Tag Archives: success

Great Advice from Successful Business Founders

22 Sep

Our most popular post to date — by far — has been The Best Advice Received — and Passed On — by Leaders of Industry.” That post referred to advice by some of our best-known business “luminaries,” who have managed large firms.

However, there is also quite A LOT that we can learn from the entrepreneurs who have introduced and managed successful businesses that started out quite small.

Recently, Entrepreneur‘s Matt Villano interviewed several company founders and titled the article: “The Best Business Advice You’ll Ever Get.” [Notice the similarity in the title of our earlier post. :-) ] As Villano notes:

“Being an entrepreneur doesn’t mean you have to go it alone. Most successful business owners will tell you they could not have accomplished their goals without help — from a mentor, colleague, even mom and dad. For many, their ability to evaluate, internalize, and act on the counsel they received was instrumental in getting their companies off the ground. In an effort to tap some of this wisdom, we called on business gurus to tell us the very best piece of advice they’ve received. From hiring to philanthropy and more, their responses were as varied as the companies they run.”

These are some the executives whom Villano interviewed and who provided advice:

  • Dennis Crowley, CEO, Foursquare
  • Rick Alden, Founder, Skullcandy
  • Petera Relan, Founder, 9+
  • Sheila Johnson, Founder and CEO, Salamander Hotels & Resorts
  • Melinda Emerson, Founder and CEO, Quintessence Group
  • Christine Day, CEO, Luvo
  • Rehan Choudhry, Founder, Life is Beautiful
  • Reece Pacheco, Founder, Shelby.tv
  • Nick Lazaris, President and CEO, Coravin

Click Dennis Crowley’s photo to read Villano’s full interviews.
 

Photo © Ewan Burns

 

ClickFox’s 2014 Brand Loyalty Survey

19 Sep

ClickFox, a firm specializing in the analysis of customer experiences, has released the results of its 2014 brand loyalty survey: “ClickFox research this year identified Apple as the top brand consumers can’t live without for the third consecutive year. Amazon, Dell and Coca-Cola tied in a distant second to Apple as the most revered brands in the study. Starbucks, Google and Microsoft fell slightly from their top rankings in the 2013 ClickFox Loyalty Survey.”

Here is an infographic from ClickFox on the 2014 study.
 

 

Social Media Maturity: An MIT Infographic

9 Sep

Some firms and individuals have reached a level of maturity with their use of social media — based on their levels of experience and activity. Others are still at the early or developing stages of social media use.

Recently, MIT’s Sloan Management Review did a global study on this topic: “The findings from our July 2014 global study on social business indicated that ‘social business maturity’ is related to the level of results that companies achieve. A new infographic illustrates how social business creates value, and outlines the primary drivers for companies seeking to advance toward social business maturity.”

Here is that infographic.
 

 

Sensory Marketing – Strengthening Brand Perception by Appealing to All the Five Senses

5 Sep

This guest post was written by Ram Kumarasubramanian. After working for several years,  Ram graduated from Hofstra University’s Zarb School in 2012 with an MBA in Marketing and membership in the Beta Gamma Sigma honor society. He is currently a Master of Science in Information student at the University of Michigan School of Information specializing in Human Computer Interaction. You can connect with him via Twitter or LinkedIn.

Ram
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Sensory marketing or sensory branding refers to the attempts made to indulge and appeal to the senses of the customers while promoting a product, by adopting a multi-sensory brand experience approach.

While brands have always placed an emphasis on providing cues that are geared towards creating the intended perception in the consumers’ minds, multi-sensory marketing aims to step up the experience by engaging all of the five senses or at least a majority of them. Sensory marketing (SM) has come into focus in recent times because of the increased competition for consumer attention. It is yet another weapon that brand strategists are looking to add to their arsenal to keep their products on top on the consumers’ consideration set.

Sensory Marketing is particularly relevant in segments such as luxury goods, retail, and food to name a few.

Take the example of Abercrombie and Fitch that uses a strong masculine scent in its stores, a particular type of lighting that is not too bright, store associates who look like model,s and loud music to resonate with its target market of young consumers.

Australian supermarket Coles uses multi-sensory marketing to induce customers to shop more. Here is a video explaining the techniques adopted by the supermarket to engage all the senses. These include an open layout for the store, access to watch the bakers and butchers in work, allowing customers to handle products without any barriers, and,use of specific scents as well as free product sampling.
 

 
Heinz Beans Flavor (launched in 2013) espouses sound, taste, and smell, touch and sight in unique ways. Food architects Sam Bompas and Harry Parr walk us through the creation of the product that leverages the idea of multi-sensory marketing in this video.
 

 
Applications of sensory marketing can be found in the most unexpected of products. Take the case of tennis balls. Holland-based Vennootschap onder Firma Senta Aromatic Marketing is one of the pioneers in this area and registered the “smell of cut grass” for tennis balls.

A Harvard Business Review study notes that retailers such as Apple have designed stores that allow customers to touch products to enable them to experience a feeling of ownership. The study also notes that the tactile sensation provided by something as trivial as the hardness of the chairs in which shoppers are seated alters the tendency and extent to which the consumers negotiate.

Examples of multi-sensory marketing in food industry are fairly common. Oxford University professor Charles Spence worked with British Chef Heston Blumenthal to create a dish called the “the sounds of the sea.” The dish served at British restaurant ‘The Fat Duck’ is best enjoyed when accompanied by the sounds of ocean waves. Professor Spence also recently noted that global FMCG companies are looking to leverage mobile applications to improve taste perception of their products in addition to changing the color, shape and size of the products without altering the actual formulations.

Although the notion of appealing to the senses to sell products is not new, it is evident that the future belongs to companies that create more than just products or services. It lies within the grasp of brands that are willing to innovate and create buying experiences that take advantage and charm for all of the five senses – touch, taste, sight, smell, and sound.

 

Planning for Career Success

28 Aug

As we have written about a lot before (for example, see 1, 2, 3), career planning is something that requires a lot of time and effort.

Are you in college now or thinking about returning to earn a graduate degree? Here is a series of steps to follow. [Note: If you are already working, most of the steps in this chart are still relevant are you. :-) ]

Click the image for a larger version.
 
Preparing-for-Career-Success
 

Having Realistic Career Expectations

12 Aug

Are you realistic in your expectations regarding your current job and your long-term career prospects?

“Our expectations serve us like a yardstick where we kind of measure people both ahead of time and after an event. We think we know what to expect of others and ourselves, so we check to see if all of that expectation is missed or met. What happens when our expectations are continuously missed? We turn grouchy, to start with. If our expectations are continually abused, it can become the catalyst of unrest and great unhappiness. We hate to be disappointed. The question is – Are your expectations realistic or are you a control freak? It’s good to be good, but it’s annoying to work with someone who wants to be perfect. Besides, it’s just not possible, so you could be unrealistic and also be a real pain in the backside.”

Here are Tannahill-Moran’s seven questions to consider:

 

 1. Are your expectations clear? “Sometimes we have them, but we can’t exactly pinpoint what they are. If you can get clear first, you can examine them more closely.”

2. How did you form your expectations? “We sometimes cook up expectations and fail to communicate them.”

3. Are your expectations consistent? “You’re confused and don’t know WHAT to expect. Time to ask.”

4. How do your goals compare to peers? “Make sure you know where the bar is set for your peers to see if it is within a reasonable range of your own.”

5. Are you properly communicating your expectations? “We often go about doing our work without really communicating what we need, when we need it, and what details go with it.”

6. Do you seek feedback? “Depending on your situation, you could do that with your boss; but if that isn’t an option, consider a respected mentor or peer.”

7. Are your expectations adversely affecting your work or career? “One sure way to know if your expectations are reasonable is if your work is being negatively impacted by someone else. It’s not unreasonable to expect others to meet quality, quantity, and deadlines as it relates to the work you do.”

Click the image to read more.

 

 

Making a New Job Less Stressful

27 Jul

Starting a new job can be a stress-filled time. So, what can you do to reduce your anxiety and optimize your relationship with your boss?

According to Careerealism:

“Building a relationship with your new manager isn’t complicated. It must be intentional, genuine, and built on a foundation of respect. As a new employee, ideally you should be spending some time with your manager every day for the first couple of weeks, even if only for a brief check-in. These meetings are ideal opportunities to jump-start the dialogue. Here are five simple conversations you need to have with your boss when you start a new role.”

 

 

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