5 Steps To Stop Insane Management From Driving Business Into The Ground

As a reminder the popular definition of insanity is “doing the same thing over and over and expecting the different  results”. Most companies continue to do business the same way and blame the economy and high gas prices on their declining business results when they should be looking in the mirror. There seems to be a strong undercurrent of “I am waiting for somebody to do something vs. I am responsible.”

The operative word here is most. There are sectors of the economy that have been hit by current conditions. I will leave that analysis to economist and academics. They have a lot more expertise in such matters and enjoy the intellectual debates of cause and effect. I have a laser beam focus on what individual companies can and should be doing to achieve their potential.

I am excluding from this article any company who is in serious cash flow difficulty. When a business gets to that point, crisis management… turnaround expertise is needed. MY firm International Resources does that work and we are very good at it. I always advise if you are in that situation, call me or a firm like mine right now as time is of the essence. My direct line is 727-587-7871.

What are “The 5 Steps To Stop Insane Management From Driving Business Into The Ground?”

1. Have a very clear profit plan at each line item of business performance. Measure actual performance against plan and have clear accountability for achieving the plan line item by line item. To implement this you must have timely, accurate and relevant information. No excuses…must have.

2. When people who are accountable for line item performance consistently fail to meet the stated goals, replace them. Period!

3. The number one function in a business that will be the subject of most of the excuses is sales. These excuses come from people who do not understand how to market to a consumer who places ever increasing importance on relationships. Why do you think the community building sites like YouTube, MySpace and Facebook are in the top ten most highly visited sites globally? According to Alexa, YouTube is 3 , MySpace is 6 and Facebook is 8 ) Every business must have a relationship driven marketing strategy and then implement it. See Relationship Marketing below.

4. Always be evaluating the market including on line competitors. I wonder if Microsoft, Yahoo and AOL in retrospect would have done anything different when Google first came to market?  No company is immune from being seriously weekend by competition. I look at the drugstore landscape. I live in Florida where competition is very active particularly for pharmacy prescriptions. A new format of drugstores was introduced not that long ago by Walgreens, CVS, and others with positioning of buildings with 24 hour drive through pharmacies on high cost real estate. Two things have happened with those changes. Prices skyrocketed to pay for real estate and relationships with the pharmacy customer has almost become extinct. Within this landscape I am aware of several privately held drugstores doing very well because of their attention to customer relationships.

5. Don’t push a boulder up hill. Some companies were never meant to be. People start companies or buy existing companies because they think it is a good idea. The only opinion that matter is the market. If your business was not all that strong in the past and you are basically doing everything right, the best action to stopping the profit leaks may mean closing the doors. If you are not sure Contact Me.

Reality Business: The following examples are taken from just one day’s experiences – today.

1. I was talking with a former client who is now a good friend, who told me they have exposure on a large receivable as it looks like the customer is going out of business. After asking two questions I understood that procedures installed during the consulting project were ignored. Insane management. This happens all the time where people make exceptions to sound business practices and then wonder what went wrong. Follow well founded established policies and procedures without exception. Does that mean nothing will ever go wrong? No, but the surprises will be fewer and far between.

2. During a meeting with a very successful fund manager I asked him if there was any one or two things that he attributes to his success. We were specifically talking about clients who transfer portfolios of $250,000 and higher to him from other firms. He said: “just two things: first I have a “high touch” approach which cements the relationship. The markets have been unforgiving lately. I increase my meetings with clients when competitors are shying away from making calls to people whose portfolios have been hit. Second I have marketing funnel to my target audience that has consistently worked very well.” I am not writing the details as this is proprietary but I will tell you this – you don’t have to be a rocket scientist to figure it out.

3. I was invited to lunch at a very nice restaurant in Tampa. It has a fairly steep price tag for most of the selections. There were many tables available. Like nearly every other restaurant I have ever dined, regardless of price point, when I left they have no idea who I am and have no way of inviting me back. Insane management.

All in one day!!

Relationship Marketing:

I love talking about how easy it is for retail business to install a relationship marketing program. This is actually easy for every company, but most readers can relate to experiences with restaurants, grocery stores, dry cleaners, specialty shops and other retail stores. Just ask yourself when was the last time you received a thank you note, an incentive to come in for a special on a particularly slow day or a brief questionnaire asking you how they can serve you better? It happens. I listened to a story the other night about a business getting a fax every time it rains near the lunch hour from a nearby restaurant saying “It is raining. Our business will be slow today. Come in for a free Taco.”” Of course, nearly everyone will be buying more than one taco. But isn’t that cool and how hard is that to do?

Visit http://www.localretailmarketing.com for an idea on how you can begin strengthening your customer relationships. The information is free. My firm is not if you want us to do it for you. We get it done now which can be very valuable for you.

Accept The Responsibility and Take Action Starting Now!!

Sending all my readers the energy of wellness, happiness and peace.

Steve Pohlit
http://www.stevereports.com

Don’t Miss These Free Reports from my new business consulting site:

The Top 10 Action Stops That Will Make Your Business At Least 50% More Money in 90 Days or Less While You Spending Less Time Working Click Here For The Free Report

The Key Issues That Must Be Addressed Before You Buy Any Business of Any Size. Click Here For The Free Report

Steve is the President of International Business Consulting Resources. His firm specializes in guiding companies to rapid increases in revenue and profits with a sustainable growth rate. Don’t miss my FREE Report: How To Make More Money With Your Business Now and Long Term I am building my practice and welcome new client inquiries. Call me for a fee consultation at 727-587-7871 Remember many of my business building articles can be found at Steve Reports and my prosperity building tool (best tool ever for helping you manifest your goals and dreams) is The Prosperity Tool Chest and guiding articles posted very often at Prosperity Tip

How To Use Social Media Video (YouTube) To Grow Your Business

Does 200 million page views a month catch your attention? How about knowing 41% of the members between the ages of 34 and 55 and all groups are divided nearly evenly between male and female? If that isn’t enough to get your attention consider these:

1. Members look for content by areas of interest.
2. All content is video and each video can be described using text that is rich with targeted keywords for your product or service.

Just a Couple More Things

1. The information above is about YouTube.. the 6th highest volume site on the Internet. The demographic data is for the US only and yet YouTube is International. The real number are larger but not quantified.
2. There are more than 150 social media sites on line and growing. Each one is attempting to carve out a niche of the huge general market. Of the 150, approximately one third are video sites. Once a person masters YouTube alll the skills are generally transferable to other niche market video sites.

The Action Plan Tracker

I have a business consulting firm. I teach companies how to build revenues and profits using proven principles and processes. Part of the business consulting work plan is to help the client implement an improved and more effective marketing strategy. Social media is now a required component of my updated business marketing strategy model. The numbers of people joining social media sites and becoming very active are very significant and should not be ignored.

There are a huge number of businesses that do not have websites, use blogs, test on line promotion campaigns, execute effective email campaign which are all very proven and effective marketing tools. Social media sites generally completely ignored by most companies. The exceptions are wisely building brand and loyalty.

Very recently I developed the groups YouTube Mastery on Facebook and MySpace as well as the the site www.youtubemastery.net These resources are just being developed and the website is very underdeveloped. However, I have a very clear plan and once I reach that point I take action and sacrifice some perfection. People need to know about these opportunities now and begin using all the Internet tools plus traditional marketing tools in their business now. I currently advise business owners that they need to be devoting nearly 80% of their time on marketing. Part of that 80% includes working with staff and others accountable for marketing. Marketing and developing people are the two most important areas where a business owner needs to spend their time. All other responsibilities should be delegated. What if your are an entrepreneur of one. The point is still the same.

Right Now Action Steps:

1. Join the group YouTube Mastery on Facebook
2. Visit and register at www.youtubemastery.net

These two actions will result in you getting up to speed on using social media and social media video to market your business.

Sending all my readers the energy of wellness, happiness and peace.

Steve Pohlit
http://www.stevereports.com

Don’t Miss These Free Reports from my new business consulting site:

The Top 10 Action Stops That Will Make Your Business At Least 50% More Money in 90 Days or Less While You Spending Less Time Working

The Key Issues That Must Be Addressed Before You Buy Any Business of Any Size.

Click Here For The Free Report

Steve is the President of International Business Consulting Resources. His firm specializes in guiding companies to rapid increases in revenue and profits with a sustainable growth rate. Don’t miss my FREE Report: How To Make More Money With Your Business Now and Long Term I am building my practice and welcome new client inquiries. Call me for a fee consultation at 727-587-7871 Remember many of my business building articles can be found at Steve Reports and my prosperity building tool (best tool ever for helping you manifest your goals and dreams) is The Prosperity Tool Chest and guiding articles posted very often at Prosperity Tip

Business Marketing Opportunities on Facebook vs MySpace

MySpace vs. Facebook Comparison Video

Jeff Hoffman prepared a nice video on the statistical differences between MySpace and Facebook. This video is about 9 minutes long and is worth the time. The comments I posted in response to this material follow:

Jeff does a real nice job of presenting data on the demographic differences between Facebook and MySpace. What is most clear to me is that the demographics of both sites are shifting rapidly. There are people who have been successful building networks on Facebook and who are now working to do the same on MySpace. So I wouldn’t ignore MySpace based on this information.

However, given limited resources, Jeff objectively delivers the message to businesses to spend time marketing on Facebook vs. MySpace. For me there remains a very serious question when considering Facebook vs. all other marketing tools. That is whether Facebook should be used at all. I don’t see compelling evidence of the value for companies spending time developing social networking on Facebook. However, I advise all companies , entrepreneurs, and solopreneurs to be actively developing a presence on at least Facebook. I offer that advice because I believe we are just at the beginning of understanding how to market effectively on social medial sites including Facebook.

Thank you Jeff for this video and I look forward to more content on this topic.

Steve Pohlit, President
IR Consulting, Inc
http://www.IRConsultingInc.com

PS One comment I failed to include is the potentially high ROI for paid advertising on Facebook and MySpace. This should be tested.

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Just Released from my new business consulting site: The Key Issues That Must Be Addressed Before You Buy Any Business of Any Size.

Click Here For The Free Report

Steve Pohlit
http://www.stevereports.com

Steve is the President of International Business Consulting Resources. His firm specializes in guiding companies to rapid increases in revenue and profits with a sustainable growth rate. Don’t miss my FREE Report: How To Make More Money With Your Business Now and Long Term I am building my practice and welcome new client inquiries. Call me for a fee consultation at 727-587-7871 Remember many of my business building articles can be found at Steve Reports and my prosperity building tool (best tool ever for helping you manifest your goals and dreams) is The Prosperity Tool Chest and guiding articles posted very often at Prosperity Tip

Social Media Marketing – Advice on Using Twitter From John Reese

You probably know John Reese is a very experienced credible and successful Internet marketer. I have benefited a great deal from John’s courses and newsletters. This message from John came to me by email and I am posting it here. Like John I have been skeptical about Social Media marketing including Twitter. One thing about John is that he tests everything and you will see he has been accumulating data on driving traffic to his sites and particularly his blog using Twitter. After you read John’s message come back and take these action steps:

1. set up your account at www.twitter.com
2. look up www.twitter.com/stevepohlit and follow me
3. look up www.twitter.com/johnreese and follow him
4. follow John’s guidance in adding people to follow
5. notice how people post to Twitter and start posting regularly.
(I use Ping.fm to post to Twitter and Facebook. It is supposed to update my accounts at LinkedIn and MySpace but I don’t see that working well. Maybe you will have more luck.)

Two final points from me:

1. this is part of my signature on my outgoing emails:

Network with me on

Facebook: http://tinyurl.com/4yyhf2

LinkedIn: http://www.linkedin.com/in/stevepohlit

MySpace: http://www.myspace.com/stevepohlit

Follow me on Twitter http://www.twitter.com/stevepohlit

2. Notice how I discovered valuable content written by an authority on a topic where I have some experience added comments and now publish it on my blog – with no changes to the original message. This is another way of generating valuable content for your blog (hint, hint)

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Email from John Reese starts now:

If you haven’t yet created a Twitter account
you’re really missing out.

This service has exploded in growth
in the past few months and I don’t see
it slowing down anytime soon. There
are now MILLIONS of users and it’s
becoming mainstream.

I’ve been running some interesting
tests and I’m already seeing some
great traffic results — far greater than
the traffic from Facebook or any
other “Web 2.0” service.

Facebook and the others certainly
have their place, but Twitter is more
powerful. At first I didn’t really “get it”
but now I do and my traffic stats
don’t lie. IT WORKS.

As a communications tool, Twitter is
probably only 2nd to Email right now.
It’s a great way to network with people
as well as to drive visitors to any of
your sites, blog posts, etc.

BUT DON’T WAIT…

Create a Twitter account NOW and
start ‘following’ people you want.
Others will eventually follow you in
return. Observe how others post
and you’ll quickly learn the culture,
etiquette, and uses for Twitter.

It’s not rocket science. In fact,
it’s a lot of fun.

You really need to start today because
the sooner you start the sooner your
followers list will start growing and more
people will see your posts — which will
then virally grow from there.

*******VERY IMPORTANT********

MAKE SURE TO FOLLOW ME!

(I’m actively posting all the time.)

Create an account then go here:
http://twitter.com/johnreese

Click the “Follow” link that shows
under my photo.

That’s it. Everytime I post you’ll
see it in your main “timeline”
area.

* After you click to “Follow” me
look at the right-hand side of
my profile page. Click the blue
“Followers” link and you can see
all the people currently following
my posts. Follow some of these
other marketers so you can get
involved.

Twitter is extremely VIRAL.
When you make posts (called
“tweets”) they can be exposed
to all the friends (followers)
of others. Then they can choose
to follow you.

I think Twitter is going to really
evolve into a “must use”
marketing tool. It’s a great way
to announce you’ve just made
a new blog post, released a
new product, or anything else
you’re up to.

I’m already seeing 400+ visitors
each time I make a tweet that
I’ve made a new blog post.

So trust me, this is no flash in
the pan. In fact, this may be
one of the most powerful marketing
tools ever — it just depends how
it evolves.

But so far you’d be crazy not to
use it. It’s producing great results.

Take 2 minutes to create an
account — heck you’ll want to
do it now so you can at least
get your name before someone
else takes it. Or your company
or product name, etc.

Just go to http://www.Twitter.com

Then visit my page at:
http://twitter.com/johnreese

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Info courtesy of Steve Pohlit

Sending all my readers the energy of vibrant health, happiness and prosperity.

Steve Pohlit
http://www.stevereports.com

Steve is the President of International Business Consulting Resources. His firm specializes in guiding companies to rapid increases in revenue and profits with a sustainable growth rate. I am building my practice and welcome new client inquiries. Call me for a fee consultation at 727-587-7871 Remember many of my business building articles can be found at Steve Reports and my prosperity building tool is The Prosperity Tool Chest

How To Use Multi Media For Lead Generation

It is unusual for me to watch TV. However for those of you that follow me on Twitter, Facebook, MySpace adn LinkedIn you know that I love the Stanley Cup Playoffs. While watching the most recent game I noticed an add during a commercial break that appeared to be an promotion for a home furnishings retailer. I quickly realized the promotion was for lead generation. This ad was designed specifically for viewers to request a resource on how to buy direct from over 700 manufacturers.

The promotion focused on the mark-up that retailers charge and asked “why should you pay their bills?” So this was clearly an emotionally engaging campaign. It was also targeted at anyone remodeling or building new. It also appealed to people intending on replacing home furnishings.

The focus of this ad was to motivate people to call or go to the web site to request their informational booklet. Clearly a squeeze page strategy using electronic media which in this case was TV. This was all very well done except showing home furnishing ads during a hockey game begs the question of whether this was the right program to be presenting the campaign.

While the ad was running I went over to my nearly always on computer and typed in their URL. Again – squeeze page only. The home page was there for one purpose which was to capture contact information. I was intrigued as to what they were really promoting. Is it a buying club with a monthly membership fee or something else?

I was very surprised to discover that I received a pass for an appointment to visit a physical place not more that one mile from my home and they were very specific as to the time. What is more interesting they now know my household (me) since their follow up survey wanted to confirm there was no problem having a baby sitter so I can could make the appointment. (The only baby sitter I need is for me.) They also know I am planning on at least some home furnishing replacements in the next 3-6 months. They asked and I told them.

I am likely to go to this appointment because I am very intrigued by what it is they want me to do. The location is not large enough for a showroom so my number one bet is that is is a buying club promotion. I will disclose the website with a follow up report in a few days.

In summary this is an excellent case study in lead generation. I certainly don’t know but it would not surprise me if Dan Kennedy was hired for this since he is one of the best marketers with TV media, copy and lead generation. Dan is the one who taught me how to pay attention to ads including infomercials. The effective ones on TV are effective sales letter in action. If you are interested in marketing you really should be getting Dan’s monthly newsletter. Click Here if you are interested.

This example is a great lesson in using multi-media for lead generation. TV, Phone, and the Internet are the primary tools being used and there is a mail in option presented but not emphasized. They did a good job and served as an example of why it is important to pay attention to well designed campaigns. And on that note I will ad there is no such thing as junk mail. Every piece is an opportunity to learn something even if it is what not to do.

Sending all my readers the energy of vibrant health, happiness and prosperity.

Steve
http://irconsultinginc.com

Steve is the President of International Business Consulting Resources. His firm specializes in guiding companies and their employees to achieve their highest potential. Many of Steve’s business building articles can be found at Steve Reports and his prosperity building tool is The Prosperity Tool Chest

Email Steve or call him directly at 727-587-7871

PS Don’t pass the valuable information on Blogging for Profits and How To Increase Revenue and Profits by 30% or More In 90 Days or Less.

6 Steps To Building Community: Steve Pohlit Reports on This Article

(The following excerpt is from an article posted on Imedia.com and my comment was written to offer guidance to those still questioning the value of communities or wondering how to participate. Steve Pohlit)

Jim Lynch Writes For Imedia:

The secret — the message is more important than the mechanics
There are many new and old media tools that you can use to manage your community. No doubt, these tools are important. But remember, it’s the message that attracts, nurtures and grows your membership. It?s the message that will ultimately enable you to realize the business value of a B2C or B2B community. Your message needs to be targeted, relevant, interesting, differentiating and compelling for your audience.

Communities are an exciting new way for businesses to connect with their markets. You can build your own or plug into influential communities of people with a vested interest in your success. Don’t wait to get started. Learn as you go and refine your strategy based on what you learn. This is a great opportunity for marketing professionals to deliver new breakthrough programs.

Steve Reports:

Excellent Jim – you have clearly articulated the essential elements of facilitating a community and building a relationship with the community. I appreciate the examples of Dove and Oracle in your article.

I think for smaller companies and entrepreneurs, they may be wondering how to best develop the value of a community. My current thinking is to research the social networks with relevant members like Facebook, LInkedIn and MySpace and build your network. Also join relevant groups and start your own group. At http://www.actionplantracker.com there is free guide for Facebook and the steps are easily adaptable to other social networks.

Most people do not appreciate the significance of your message but a growing number of business leaders are beginning to include transparency within a relevant community as a priority on their list of business development initiatives.

Again my compliments on an an outstanding article and message.

Be well and wishing you continued success,

Steve
http://www.stevereports.com

Part 1: Response To The Blog Squad’s Question Is Social Networking A Waste of Time

I enjoy blogs and one of my favorite sites is operated by Denise Wakeman and Patsi Krakoff professionally known as The Blog Squad.

Their latest post addresses the value of social networking sites. If you are not exactly sure what social networking sites are look at Facebook, Twitter, My Space, You Tube for starters. I read that Facebook gets more traffic per month than Google and has an estimated value of $15 billion. Facebook started in 2004 so in less than four years having an estimated value of $15 billion is a great success story.

Valuation is not the important topic today except that it is an indicator of worldwide demographic trends of people connecting with people. If you spend any time at all on Facebook, MySpace or the other popular sites you will quickly understand that people are opening their previously private lives to the world. Of course there are text profiles, website links and more. What is really interesting are the pictures being posted and personal videos. Just yesterday John Reese, a very successful business professional and expert in the field of Internet marketing whose work I value tremendously, published pictures of his home inside and out. John has been very private about his personal life but is now cracking the door open on social networking sites.

Books and courses are being written about the value of social networking sites. However Patsi from The Blog Squad suggests this may all be a waste of time. She writes in part

“Last year at BlogHer Business, we heard about
Twitter. Just for fun, we both set up an account.
But it never caught on, or at least it didn’t for
me. Then I go over to Biz Tips Blog and find out
Denise has been sucked in. Even Leesa Barns of
Podcasting fame is in love with Twitter. Again,
I’m not convinced.

Curmudgeon and introvert, I’m now accepting new
friends into Facebook even though I’m not
convinced yet it will bring big business rewards.

So Denise and I are in two camps on these new
social sites for now: She’s convinced it’s worth
it, I’m still skeptical and am waiting to see how
it all shakes out.”

Patsi raises the question that has been in a lot of people’s mind. Is time on social networks time well spent? My answer is a resounding yes it is time well spent. The reason for my answer is likely to surprise you. In Part 2 of my response, I open the doors as to why social networking is very valuable. If you want this delivered right to your email you will subscribe to my blog

Until then consider this “The significant problems that we have cannot be solved at the same level of thinking we were at when we created them. ” Albert Einstein

Steve Pohlit, Business Development Consultant and Coach
http://www.stevereports.com