Click Here to Show that You've Read and Agree!

We want to make life easy for you so first read these 29 pages and 10,000 words. Then click that you have read, fully understand and agree with everything we’ve said.

That's what I faced when I signed up for online banking.

I wasn't inclined to read those 20 pages of legal sounding phrases.
I didn't want to pay a lawyer to explain them the me.

So what do you think I did?

Yep, just clicked and ignored all that legal talk. Who every reads that nonsense and who every understands it?

You know that they plan to screw you anyways.
They can afford to pay their lawyers much more that you can imagine.

So you plug your nose against the stench and jump in - and hope that you don't sink.




George Torok Host of Business in Motion Business Speaker Listen to Business in Motion audio PodCasts On iTunes Business in Motion on Facebook

How to Handle Junk Mail

By Harold Taylor 

Larry J. Sabato, in an article, Mailing for Dollars, in an old issue of Psychology Today, refers to a survey that showed that 63 percent of the people really look forward to receiving mail.  Even more than they look forward to daily activities such as watching television, hobbies, eating dinner and sleeping!  He also mentions another survey that revealed that 75 percent of the people who receive political mailings actually read them.

Contrary to the popular belief that most junk mail ends up in the wastebasket unopened, it doesn't - at least not until it has grabbed your attention and consumed some of your time.  To increase the likelihood of your perusing these unsolicited mailings, such ploys are used as personalized envelopes, "live" stamps, return postage, teaser copy, red ink, creative copy, and a personalized, conversational tone.

Direct-mail consultants spend their time devising new ways of getting you to spend your own time - and money - on various products and services offered.  Although I don't recommend you throw out all junk mail unopened, since much of it could be useful and profitable, you should be selective.  If you recognize from the envelope that the product the product or service is one you don't need or want, discard it unopened.  Otherwise, you'll be trapped into sorting through the interesting, colorful inserts that are designed to capture your interest.

 It can become very time-consuming when the direct marketers don't take the trouble to eliminate duplication.  If you receive two or three identical envelopes from the same mailer, take a minute to scribble "Return to sender" on the unopened envelope.  On the duplicates, add the statement "please remove name from mailing list."  Or have a self-inking stamp made up that says it for you.  

Unsolicited material can be valuable, keep you updated on what's new on the market, and give you some great ideas for increasing productivity in your firm.  But it is also designed to attract your attention.  So spend as little time on it as possible.  Be ruthless with those you open.  If their value is in doubt at all, scrap them quickly.  Resist the urge to read further or hold them over until later.  And don't circulate the material to others unless you can see immediate use for it.  When you do send material to others, note exactly what you want done and whether the material should be retained or scrapped.

File material you want to retain; but not in a permanent file system.  Place it in a follow-up file or idea file for future action.  Record the reason you are keeping it.  Discard inserts that are unnecessary and staple the other material together.  Don't file loose or paper clipped material.  On the pre-determined date, review it and take action.  Resist the urge to re-file it.  If you don't have time to do anything about it or have second thoughts about its value, scrap it.  Err on the side of tossing too much, never too little.

If you find the junk mail is consuming too much time, and keeping you from the priority items, have it separated from the other materials and placed in a folder of its own.  Then, regardless of when you review your mail, leave the folder until the end.  If you have used up your allocated mail time without having gone through the junk mail, no harm done.  Leave it until tomorrow.

You might even leave the folder of junk mail until fifteen minutes before quitting time.  You are normally winding down by then, and in no mood for priority tasks that require mental alertness.  With only junk mail standing between you and the evening meal or leisure time, you tend not to dawdle over those eye-appealing folders.  The secret is to review all junk mail, but do it quickly, without allowing it to infringe on priority time that could be used for priority tasks. 

George Torok Host of Business in Motion Business Speaker
Listen to Business in Motion audio PodCasts On iTunes Business in Motion on Facebook

Disaster-Recovery Insurance: Preparing for the Worst to Avoid an Expensive Mistake

“Expect the unexpected” is an old axiom that has global applications. It’s a piece of advice that falls into the same category of Murphy’s Law, the familiar, though pessimistic, adage that predicts, “Anything that can go wrong, will go wrong.”

Business owners often prepare for the worst and hope for the best. Large companies hire risk managers who predict risks and put together custom coverage plans, but small business owners must rely on their own knowledge or an agent to assist in creating plans. Even professionals can’t foresee natural disasters or other unexpected crises, which makes disaster-recovery insurance a must for small businesses with large investments in property or inventory.

A 2010 survey conducted by Travelers Insurance revealed that 94 percent of small business owners are confident that their business is protected against insurable risks; however, only 56 percent of those surveyed had disaster-recovery insurance.

Business owners without disaster-recovery insurance may not realize that their standard property insurance fails to cover disasters such as flooding, terrorism or other external circumstances that disrupt day-to-day operations. Unfortunately, this gap in coverage could have drastic consequences. According to federal statistics, 43 percent of businesses that close due to a natural disaster remain permanently closed; and 29 percent close in the following 2 years.

Natural disasters aren’t the only unpredictable risk factors. For example, would you be covered if a water main broke and flooded your building?  A business owner who has business interruption insurance will receive reimbursement for lost income in addition to necessary funds to repair damages. This business owner can retain employees while the property undergoes repairs. The employer without this type of coverage would be forced to lay off employees until repairs are completed – or to pay employees out-of-pocket.

Many small business owners purchase a standard Business Owners Policy or BOP, without researching the different areas of coverage. This may be why only 56 percent of business owners surveyed by Travelers Insurance were covered with disaster-recovery insurance. Though business owners may assume their property is protected against the unexpected, a standard BOP may be limited to maintenance and restoration. 

For small business owners who are not heavily invested in property or inventory, business interruption insurance may not be essential. However, this does not exclude the home-based business. Many independent business owners who work from home have admitted to having no extra insurance, falsely assuming that their homeowner’s insurance will be enough to protect against damages.

Most homeowner’s policies exclude business pursuits from coverage. Insurance claims filed to cover equipment, software or inventory could result in denial if an insurer were to tie the claim to a business venture. Home-based business owners who are interested in business interruption insurance should opt for a claim that includes an extra expense clause. The purpose of this clause would be to allow for the relocation of a business while the original property (the home) undergoes repairs.

Even though insurance is required to mitigate damages of the unexpected, sometimes purchasing insurance can come at a risk. A new business owner can overlook certain risks and find himself underinsured; while a business owner who chooses an unreliable agent could overspend on policies. Business owners who make self-education a priority can avoid such unnecessary and expensive mistakes.

--------------------------------

Carol Wilson is a versatile guest blogger who primarily writes about global business trends and finance. When she's not writing for sites like www.businessinsurance.org, she enjoys hiking and fishing. If you have any questions or comments for Carol, please send them to wilson.carol24@gmail.com.

George Torok Host of Business in Motion Business Speaker
Listen to Business in Motion audio PodCasts On iTunes Business in Motion on Facebook

Why Entrepreneurs Continue to Work

by WAYNE VANWYCK

In his book, Man’s Search For Meaning, Victor Frankl wrote about the importance of purpose and a goal in one’s life. An Austrian psychiatrist, he wrote from the perspective of having survived the horrors of the Nazi concentration camps. His life in Auschwitz and his subsequent research confirmed that people who lose their sense of purpose could will themselves to die.

We all need a purpose, and for many entrepreneurs it is working at their business that provides that purpose. We need something to strive for, to stretch ourselves until the day we die; thus we extend our lives. All your life, you’ve been living with gaps that you’ve tried to close. The difference between what is and what you would like it to be. You’ve had mortgages and loans to pay off, properties to buy, places to go, new product lines to develop, new ways of doing business, new markets to pursue, and competitors to beat. If you suddenly stop, and there is no work, no creative tension in your life, you’re in danger of losing your sense of purpose and your will to live.

When I was growing up, my family farmed next to a neighbour who always seemed ancient to me. In his seventies, he still farmed with a team of horses, worked hard every day and, frankly, was stronger than me - even when I was a teenager. At 80 he was still wiry and strong, and worked as hard as any of us. But, at last he agreed with those who pushed him to sell the farm, move into town, and take it easy. Within 18 months he was dead. All his outdoor activity, his exercise, his routines, his love for his horses, and his sense of purpose were gone. Although those who insisted he move from the farm had the best of intentions, tragically the move became his death sentence.

Many entrepreneurs don’t plan to retire. While it may not be a conscious decision or clearly articulated, they fear losing their sense of purpose. They continue working in order to live a meaningful life. Others, who do retire, find purpose in volunteering, coaching young entrepreneurs, investing in start-ups, being active grandparents, travelling or other avocations.

You have the choice to work or not through your retirement years. One isn’t better than the other. But to be healthy, we all need a purpose. If you choose to transition your business and retire, you must first transition yourself and identify new challenges, opportunities, and purpose to replace your need to work.

http://www.tac-focus.com/focus-areas/succession-transition-planning


George Torok Host of Business in Motion Business Speaker
Listen to Business in Motion audio PodCasts On iTunes Business in Motion on Facebook

Make The Tough Decision: Keep or Sell?

by WAYNE VANWYck

“Two roads diverged in a wood and I –

I took the one less travelled by.

And that has made all the difference.”

Robert Frost

If you’re a baby boomer business owner (BBBO) you face a difficult decision. You’ve grown a business, probably from scratch, and now you may need to decide whether to sell your “baby” or keep running it.

Whichever road you choose, there will be significant consequences. You may be thinking, “I don’t really need to decide right now. I can put it off.”

Perhaps as you stand at the fork in the road your first answer is to stay there, at the fork, for a few more years. But, standing there may become quite crowded. There are millions of BBBOs right there with you, milling around, regarding each other with puzzled looks on their faces, all pondering the same question. “Keep it or sell it?”

Seven reasons to decide now:

1. A decision is a precursor to action. Once a decision is made, you begin to move intuitively. Actions lead to results.
2. A decision, once communicated, initiates actions in those around you. As soon as you pick a path, your family, employees, customers and suppliers will pick up on your certainty and commitment and follow your lead.
3. A decision unclutters your mind. You stop waffling and begin formulating ideas and plans.
4. A decision coupled with a commitment sends a message “to the universe” that is picked up and acted upon. Goethe said it best: … "the moment one definitely commits oneself, then Providence moves too."
5. When a decision is made, you can set goals such as selling the business for a certain price or getting the business to run successfully with or without your presence in the office. Clear goals enable you to develop plans and strategies to make them happen.
6. A decision signals your stakeholders that you are in charge. You’ve thoughtfully considered the options, weighed the pros and cons, done your research and come to a decision that is right for you and right for your business.
7. A decision shows courage and leadership.

Sell it or keep it. It’s a tough decision that resides solely with you. You can get input, ideas, suggestions and support, but ultimately you, the BBBO, are required to make it. It’s your responsibility.

http://www.tac-focus.com/focus-areas/succession-transition-planning


George Torok Host of Business in Motion Business Speaker Listen to Business in Motion audio PodCasts On iTunes Business in Motion on Facebook

Best Ways to Prepare for Your Summer Vacation

Regardless of whether your summer travel plans call for camping in the wild, whitewater rafting down a raging river or taking a road trip, one objective should be to disconnect from the hustle and bustle back home and really get away from it all. If the very thought of unplugging from your workplace causes you to break out in a cold sweat, remember: Disconnection is key to full relaxation. Numerous scientific studies have shown that people who take vacations are less likely to suffer from depression and report higher levels of overall happiness than people who don't. The truth is, over time, our physical and mental health deteriorates if we don't take time to decompress and slow down. This hampers our ability to be effective players at work and can cramp our personal lives as well. So start by thinking of your vacation as an investment in your well-being, then follow these ten tips on how to prepare to go on vacation. 1. Don't leave important, must-get-done projects to the last minute. You risk not getting them finished and having them mentally weigh you down during your "off time" - or worse: working on them while you are supposed to be relaxing. 2. Select someone as your contact person who can address important issues and emergencies while you're gone. Brief her/him - and your boss - about any potential issues that may arise. 3. If you are closing your office and everyone will be leaving, let your key clients know how long you will be away. Provide the names and contact information of people your clients can reach out to if they need a resource. Leave your cell number on your email away message or cell phone voice mail saying that you can be reached if (and I mean only if) there is an emergency. I have done this fo r the last ten years and, so far, no one has called. 4. Never officially come back on a Monday. Make your re-entry easier by officially starting on a Tuesday. Use Monday for catch-up and prepare a cheat sheet ahead of time with a reminder list of to-do's to be completed immediately upon your return. 5. Once you have your work responsibilities covered, you can begin to get in the vacation frame of mind.Quietly ask yourself what you need to do to get the highest level of benefit from your vacation, and set realistic expectations for your time away. For example: It may take you a day or so to decompress. Don't try to force the relaxation; instead, ease into it. 6. Facilitate your decompression by pampering yourself a bit ahead of time. Indulge in a pre-vacation massage, golf game or long lunch - anything that helps you get into relaxation mode.  Invest in a haircut, manicure, pedicure, etc. so that you can feel confident and spoiled. 7. If you're taking a stay-at-home vacation, otherwise known as a "staycation", keep the vacation mode alive and well by keeping yourself from over-planning activities. For example: Don't make hard labor projects at home, like building a new kitchen, one of your staycation goals. Instead make your time at home unstructured. Watch that movie tha t's been sitting by the TV for weeks, sit back and read a book, spend hours pursuing your hobby. Do what you always want to do but never seem to have time for. 8. One of the easiest things to do, yet one of the most often forgotten, is to arrange for someone to check your mail and pick up newspapers while you are away. This prevents would-be thieves from knowing you're not home. 9. Pack smart by keeping the small details in mind, and make sure to take items that tend to be more expensive at vacation resorts, such as sunblock, toothpaste and aspirin.  10. Save money by booking a suite:An extra-large hotel room might seem pricey, but it's often the best deal for a big family. Ask about the availability of sleeper sofas and rollaways if you need additional beds.  11. Recent research shows that, to be the most satisfying, leisure time should resemble the best aspects of work: challenges, skills and important relationships. Do some research and identify the types of activities you might want to do on your trip such as golfing, sailing, biking or hiking. What family fun is available? If you think vegging out is a vacation, you may be sh ortchanging yourself. Oftentimes, keeping your mind occupied will be easier than just trying to instantly tune out. 12.  Lastly, when on the actual vacation itself, be sure to avoid multitasking. Being on the beach while texting does not make for a true vacation. And please don't rush throughyour plans. The idea is to enjoy your vacation in a leisurely ma nner and not race through it as if you were running a marathon. Instead, create a loose schedule whereby everyone gets to do what they want to do and ends up satisfied with the time off. You need and deserve to tune out once in a while.  This prevents you from hitting a wall in your job when there is no break. Remember, when you look back at your life, it's not going to be what you missed at work during your vacation you'll think about - but the memories made from quality time away. On that note, upon your return, keep your memories alive by framing photos of your vacation.  Let the joy of your vacation be remembered in special places in your home and office. Cheers Roz

Sign onto my new Remarkable Leader Blog http://remarkableleader.wordpress.com. Listen to my latest CD "How To Be Politically Savvy: Developing A Personal Brand For Success"                            http://www.usheroff.com/products_political_savvy_audio.html

George Torok Host of Business in Motion Business Speaker
Listen to Business in Motion audio PodCasts On iTunes Business in Motion on Facebook

Wanted: Young Business Leaders Halton/Hamilton/Niagara

Do you know of young business leaders in Halton, Hamilton or Niagara? The Business Link newspaper is searching for nominations for The Top 40 under Forty.


The Business Link will be honouring 40 businesspeople under 40 years of age (as of March 1, 2012) who are making their mark in the Greater Hamilton and Halton communities through business success, community involvement and charitable work. 


Notice the combined requirement for business success plus community involvement and charity work.


I guess that means that hermit Internet millionaires need not apply.


You can find The Top 40 under Forty nomination form here.



George Torok Host of Business in Motion Business Speaker
Listen to Business in Motion audio PodCasts On iTunes Business in Motion on Facebook

Interview with Seth Godin: We are all Weird

Listen to this audio interview with Seth Godin on the topic of Weird. If you are not yet weird, maybe you will be after listening to Seth Godin.


Success Mag interview, 2012 from Seth Godin on Vimeo.



George Torok Host of Business in Motion Business Speaker
Listen to Business in Motion audio PodCasts On iTunes Business in Motion on Facebook

Business Jobs Available

George Torok Host of Business in Motion Business Speaker
Listen to Business in Motion audio PodCasts On iTunes Business in Motion on Facebook

Who's Responsible for Your Success?

The 10 Reasons Why You Don't Sell as Much as You Could (or Should)
and What To Do About It
by Jim Domanski


Be real honest with yourself: are you selling as much as you could ... or as much as you should? If you have that vague and uneasy feeling that maybe you could be doing better but you're not precisely certain why you're not, then this article might give you some much needed perspective


1. You lack product knowledge
You might not be excelling at selling because you lack product knowledge. Maybe you're new to the job. Maybe you haven't been diligent in learning more about your products and services.

Here's the good news: you can readily fix this. Learn your products inside out. Review brochures, manuals, white papers, special reports. Read industry magazines. Subscribe to industry e-newsletters. Visit competitive web sites. Find a savvy mentor. Pick your boss's brain. Do SOMETHING. Invest a few extra hours a week. Eat lunch at your desk and read. Stay and extra half hour. Take stuff home.

2. You don't use the skills that you got when trained
You might not be selling to the degree that you would like because you are NOT using the skills you were taught in training. The trouble with learning new skills and techniques is that it means CHANGING your selling behaviour. Most people resist change even if that change means better results.

This is easy enough to fix too: find someone that will act as a coach, a cheerleader or conscience. Most often it's your manager. Engage him or her. Call them to task. Get trained again if necessary. Get them to monitor your calls and analyze what you are doing well and not so well. Get them to pat you on the back or kick you on the backside. Do SOMETHING and start applying what you learned.

3. You abuse the skills that you got in training
You may not be a good seller because you 'abuse' what you learned. This is different from #2 where you don't use ANY of the new skills. In this case, you don't use what you learned well. You have diluted, changed or altered the selling skills and techniques; you go half way; you cut a corner or two... or three...or four; you don't follow through; you've whittled away a tactic. You may not even know it.

The best thing to do is get yourself a coach - a manager, a friend, a mentor, an outsider- to objectively listen and analyze your calls. Be open to their remarks. Get training. Get your manager to provide constructive feedback.

4. You lack experience.
You're new to sales. You've just come off training. You haven't made enough calls to get a complete feel for your selling environment. You haven't dealt enough with customers or prospects. You haven't had enough victories or defeats. You lack the experience that only comes with time and effort. You lack the volume work that provides insights, confidence and savvy.

The solution? Don't quit. Keep plugging away. Keep a log book of experiences. Jot things down. Chat with others. Learn. Store those experiences somewhere. Above all, be sure to keep dialling. You'll learn by doing. Mistakes are great teachers; so are successes. Push yourself.

5. You quit too soon
Speaking of quitting: you might not be as successful as you could be simply because you quit too soon or you too easily. Quitting means any number of things. It means stopping an activity short of completion. For instance, instead of making 70 dials you quit at 55. Instead of making four or five follow up you quit at one or two. If a prospect says 'no' when you ask for the sale instead of querying further you crumble like a house cards and hang up.

What's the answer? Buck up, baby! Grow a spine. Don't be a wimp. Push a little further. Push a little harder. It won't hurt a bit and it WILL help your sales.

6. You need an attitude adjustment
Attitude can be a real sales killer and it may be holding you back from extraordinary results. Look, if you don't like your boss; if you're convinced your prices are "always" too high; if you feel your list is lousy; or you think that your competition has a better product, a better offer, better terms ... whatever; then quit. Don't waste any more of your time.

Or, alternatively, you can change your attitude. It's as simple as that. Make a choice. Negative thoughts and beliefs will hold you back from succeeding. So here's what to do. Stop whining. Stop blaming and finger pointing. And above all, stop excusing yourself. Your sales success is YOUR responsibility.

Here's what you should do: grab a yellow sheet of paper and a red marker. Write these words on it in big letters, "So, what am I going to do about it?" Post it where it will always be visible. When you feel yourself going down the self pity path, look at the poster and thing about solutions or hard work.

7. You're complacent
You might not be selling as much as you could or should because of complacency. It means you are content, perhaps even smug about your sales results. You're happy with what you are making and achieving. This is not necessarily a bad thing provided you are meeting or exceeding your objectives.

The only trouble with complacency is that it's a slippery slope. It gets easy to stop doing the things that made you successful...and you don't realize it. One day you wake up and you're behind the game. Complacency is common and it creeps up on everyone from time to time.

The good news is that complacency is relatively easy to fix. Push yourself every day by trying something new or setting more challenging objectives. Make 10 more calls. Push for one more sale. Get in 15 minutes earlier. Prospect a half hour longer. Stay an hour later once a week.

8. You're lazy
Ouch! Being lazy is different than being complacent. Lazy is several steps past complacency. Laziness is knowing what to do but consciously choosing not to do it. And excusing it. Laziness is seeing what needs to be done and ignoring it.

No one likes to admit that he or she is lazy but if your sales are down and they've been down for a while, you need to have a little 'heart-to-heart' with yourself. Only you can answer the question. As for the solution; it's self-evident.

9. You don't invest in yourself
Your sales might not be where you want them because you have done little or nothing to help get yourself to the next level. You haven't invested the time or the money for self-improvement. That you are reading this article is a good start but let me ask, have you bought a book or DVD on sales in the last six months? Have you thought of hiring a coach? The moment you invest a few bucks of your own money is the moment you have something to lose. It is also the moment you want an ROI. You create risk with an investment.

Next step? Visit a bookstore one day this week. Browse the marketing and sales selves. Find something to buy and read. Then schedule a half hour a day or a couple of hours a week to read and learn new techniques. (Not sure what to buy? See "I recommend "Smart Calling" - see the column below for more information)

10. You don't have the talent
Maybe your sales aren't so great because you lack the talent. Talent is an inherent ability to do well or at least, well enough. Not everyone has it. I can't dance a lick. I have NO talent for it. Can't sing either. Wasn't blessed with it. Golf? I play but it's a torture to watch.

Some people aren't cut out to be sales people because they don't have the talent. If you have tried everything suggested here, if you have moved from sales job to sales job and have not been 'successful' then maybe you don't have the talent. Maybe you should move on to something else. No shame in that. Call it a moment of truth but it could make your life a whole lot more enjoyable.

Summary
If you haven't gathered by now, your success is up to you. It's your choice. Making certain choices is not always easy but it is the only path to sales success. Choose wisely.


Jim Domanski
President, Teleconcepts Consulting
http://www.teleconceptsconsulting.com/
B to B, outbound tele-sales consulting and training services
Phone: 613 591 1998
-----------------

Powerful advice from Jim. If you are successful - you are responsible. If you are not - you are responsible.

George Torok

Fail Often, Fail Fast, Fail Cheap

That's powerful advice from Jim Estill. He is a successful entrepreneur who build his business from nothing to annual revenue of over $300 million. He then sold the business - like a smart entrepreneur.

I have shared the stage with Jim as presenters and expert panelists. Jim has much wisdom to offer. Of all the advice I've gathered from him this one resonates with me the most.

"Fail often, fail fast, fail cheap." - Jim Estill

Just imagine how "the fear of failing" can halt success. Instead, Jim suggests that we accept failures as necessary to growth.

Jim Estill discusses each point in more detail in this article.


For Better Innovation - Fail Often, Fail Fast, Fail Cheapby Jim Estill

Companies need to be encouraging of failure. Too often people are disciplined for trying things that do not work. I advocate the opposite. Praise those who try - even if they fail.
Read the rest of this article at For Better Innovation - Fail Often, Fail Fast, Fail Cheap

This line in the article particulaily jumped out at me.

"Having failures does not make you a failure. Not trying makes you a failure."


George Torok

Host of Business in Motion

20 Classic Case Studies Every Business Student Should Know

Enjoy this collection of 20 important business lessons illustrated with case studies.

Here are two that I particularily enjoyed reading.

David vs. Goliath

It's tough to be the little guy, especially when one of the big guys becomes your direct competition. But at Hangers Cleaners, an offbeat image and good customer service helped them pull through when P&G opened an eco-friendly dry cleaners in the same town. Hangers differentiated itself through van delivery service, funny t-shirts and hangers, as well as social networking. The company also spent time connecting with the community by partnering with local businesses and charities.

Instead of out-pricing or out-spending P&G, Hangers embraced its personality and adopted a culture of excellent service that customers found value in. As a result, Hangers has experienced growth while other local dry cleaners have reported flat or declining revenues.



Triumph in Niche Exports

Another excellent international case study comes from bike manufacturer Triumph, which lost steam in its British home base three decades ago, but found new life by heading overseas. In 2010, Triumph sold just 7,562 bikes in the UK, but 50,000 worldwide, indicating that an international interest paid off for the company. Triumph's famous factory in Warwickshire closed up shop in 1983, but the Indian factory remained, and these days, the motorcycles have become the country's Harley Davidson.

The company struggles to meet demand in India, with a six month waiting list and a new factory being built. India's middle class has embraced the vehicle as an affordable commodity, even giving them as dowries in weddings.


Read the rest of these lessons here.

20 Classic Case Studies Every Business Student Should Know

The forever recession (and the coming revolution)

From Seth Godin

There are actually two recessions:

The first is the cyclical one, the one that inevitably comes and then inevitably goes. There's plenty of evidence that intervention can shorten it, and also indications that overdoing a response to it is a waste or even harmful.

The other recession, though, the one with the loss of "good factory jobs" and systemic unemployment--I fear that this recession is here forever.

Why do we believe that jobs where we are paid really good money to do work that can be systemized, written in a manual and/or exported are going to come back ever? The internet has squeezed inefficiencies out of many systems, and the ability to move work around, coordinate activity and digitize data all combine to eliminate a wide swath of the jobs the industrial age created.

There's a race to the bottom, one where communities fight to suspend labor and environmental rules in order to become the world's cheapest supplier. The problem with the race to the bottom is that you might win...

Factories were at the center of the industrial age. Buildings where workers came together to efficiently craft cars, pottery, insurance policies and organ transplants--these are job-centric activities, places where local inefficiences are trumped by the gains from mass production and interchangeable parts. If local labor costs the industrialist more, he has to pay it, because what choice does he have?

No longer. If it can be systemized, it will be. If the pressured middleman can find a cheaper source, she will. If the unaffiliated consumer can save a nickel by clicking over here or over there, then that's what's going to happen.

It was the inefficiency caused by geography that permitted local workers to earn a better wage, and it was the inefficiency of imperfect communication that allowed companies to charge higher prices.

The industrial age, the one that started with the industrial revolution, is fading away. It is no longer the growth engine of the economy and it seems absurd to imagine that great pay for replaceable work is on the horizon.

This represents a significant discontinuity, a life-changing disappointment for hard-working people who are hoping for stability but are unlikely to get it. It's a recession, the recession of a hundred years of the growth of the industrial complex.

I'm not a pessimist, though, because the new revolution, the revolution of connection, creates all sorts of new productivity and new opportunities. Not for repetitive factory work, though, not for the sort of thing ADP measures. Most of the wealth created by this revolution doesn't look like a job, not a full time one anyway.

When everyone has a laptop and connection to the world, then everyone owns a factory. Instead of coming together physically, we have the ability to come together virtually, to earn attention, to connect labor and resources, to deliver value.

Stressful? Of course it is. No one is trained in how to do this, in how to initiate, to visualize, to solve interesting problems and then deliver. Some see the new work as a hodgepodge of little projects, a pale imitation of a 'real' job. Others realize that this is a platform for a kind of art, a far more level playing field in which owning a factory isn't a birthright for a tiny minority but something that hundreds of millions of people have the chance to do.

Gears are going to be shifted regardless. In one direction is lowered expectations and plenty of burger flipping. In the other is a race to the top, in which individuals who are awaiting instructions begin to give them instead.

The future feels a lot more like marketing--it's impromptu, it's based on innovation and inspiration, and it involves connections between and among people--and a lot less like factory work, in which you do what you did yesterday, but faster and cheaper.

This means we may need to change our expecations, change our training and change how we engage with the future. Still, it's better than fighting for a status quo that is no longer. The good news is clear: every forever recession is followed by a lifetime of growth from the next thing...
Job creation is a false idol. The future is about gigs and assets and art and an ever-shifting series of partnerships and projects. It will change the fabric of our society along the way. No one is demanding that we like the change, but the sooner we see it and set out to become an irreplaceable linchpin, the faster the pain will fade, as we get down to the work that needs to be (and now can be) done.

This revolution is at least as big as the last one, and the last one changed everything.

Tips for Getting Your Start-Up Going

By Cynthia Kocialski

Entrepreneurs suddenly have an idea and then they just want to get going building the product and starting the new business. All entrepreneurs are impatient people. It’s hard to pull on the reins and get them to stop and investigate the idea before they go full speed ahead.

Almost all serial entrepreneurs and investors know that whatever the founder believes is the first product, won’t be the product. It’s almost always a variant. The better the starting point, the faster and more efficiently the entrepreneur will arrive at the start-up’s true first product offering.

What is it and why should it exist?

Most entrepreneurs start with the product idea. Before even thinking about wrapping a business around the product, the entrepreneur should ask themselves these questions.


What is the problem that the product solves? How much of the problem do you solve for the customer? A customer wants the total solution, not just 10% of it. Is the problem one the customer desperately wants solved? Are customers currently searching for a solution and unable to find one? Are they willing to spend to solve it? Does the customer need the problem solved immediately? How do you know these answers?

If the entrepreneur doesn’t have the answers then the start-up is already in trouble. The last question is there because I am always in awe at how many start-ups have never talked to an actual customer, and their answers are based solely upon research!


TIP: Exploring possibilities doesn’t require paperwork


Many entrepreneurs believe they have to have completed and filed all the corporate paperwork with the required government agencies before starting their venture. No, you don’t. You can create a company name, print business cards, give yourself any title you like, get a domain name, put up a website, and have a corporate email account without any incorporations, licenses, or permits.


Talk is cheap and you can answer the above questions without waiting for filings. Find the answers first.


TIP: Understanding Customers’ Work Behaviors


Many entrepreneurs have difficulty getting to speak with customers. Most will cold call or send unsolicited emails. The result is being ignored. Why? In an office environment, most people are most concerned about what work they need to get done today or the meeting they have to go to in an hour. They are trying to get through their daily to-do list and you are distracting them.

The solution is getting to talk to them when they are someplace where they are there to network and connect with others. That’s why attending conferences, tradeshows, workshops, and seminars works so well. They are removed from their day-to-day tasks. If you are targeting big companies as customers or are going to a large event, consider volunteering to register attendees. I know a founder who always works speakers’ registration, his potential customers come to him and while he’s checking them in, he gets to make an appointment to speak with them during the conference. It also means the conference for free.


Some of the smaller events will provide you with the attendee list. This will allow you to do research ahead of time. You can attend the meeting and look for specific people to talk with, and this is the real reason there are name tags and badges at events!


TIP: Learning What the Customer Really Wants

Most entrepreneurs get in front of their potential customers and spend all their time telling customers about the products they are creating. At some point in the conversation, consider asking the customer what are their top problems right now. It amazes me why founders just don’t ask, “What one problem would you pay anything to solve right now?” The answer may surprise you and you may just discover a better product to offer.


A good foundation is worth a lot to a start-up. It is not something that can be done in a day, a week or even a month. But getting a good starting point will simply make the rest of the planning and execution easier.



About the Author
Cynthia Kocialski is the founder of three tech start-ups companies. In the past 15 years, she has been involved in dozens of start-ups and has served on various advisory boards. Cynthia has held various technical, marketing, and management positions at IBM and Matrox Electronics. Cynthia has engineering and mathematics degrees from the University of Rochester and the University of Virginia. Cynthia writes the popular Start-up Entrepreneurs’ Blog
http://www.cynthiakocialski.com/ and has written the book, “Startup From The Ground Up - Practical Insights for Entrepreneurs, How to Go from an Idea to New Business”.

10 Big Businesses That Started in a Garage

Every big business had to start out somewhere, right? Some have come from more humble beginnings than others, launching with no more than some basic equipment, a couple employees, a garage space and a big idea. Whether you’re a business or finance student hoping to follow your own path to entrepreneurial success or already working in your own garage on the next big thing, these stories of companies that rose from obscurity to be multi-million (or billion) dollar industries can be a big inspiration. They may very well help you finally realize your dream of getting out of that garage and onto bigger and better things.

Apple: Today, consumers will wait in line for hours just to get their hands on some of Apple’s latest products, but once upon a time this electronics giant was a mere blip on the technology industry’s radar. Back in 1976, Steve Jobs, Steve Wozniack and Ronald Wayne started a business out of a garage in Cupertino, CA, putting together one of the first prototypes of their personal computers. Over the next decades, the company would introduce several more models, including their Macintosh line in 1984, arguably what turned them from a struggling startup into a fully fledged business. Today, the company manufactures much more than computers, has almost 50,000 employees and brings in revenues of over 14 billion each year.

Google: Google might be a household name today, but back in 1998 the search engine giant was just starting out. Their corporate headquarters? A Menlo Park, CA garage. For the next five months, Google’s staff of three would work out of this garage, perfecting their search algorithm, indexing web pages, and raiding the refrigerator of their friend’s attached home. By the next year the company had outgrown the garage and eventually moved into what is today known as the Googleplex. To celebrate their 8th birthday, Google purchased the garage and intends to preserve it as a lasting legacy to the humble beginnings of their business.

Mattel: Mattel wasn’t always the toy maker we know it as today. When the Handler’s got their start in the 1940’s in a Southern California garage, they were making picture frames, not toys. Ruth Handler began taking the scraps of wood from those frames and making doll furniture, a side business which proved quite successful. Because of this, the entrepreneurs decided to change their focus to toys instead. In 1959, they introduced the first Barbie, and afterwards became a household name. Today they’re home to big names in the toy business like Fisher Price, Hot Wheels, American Girl and a number of board games.

HP: Back in 1939, Bill Hewlett and Dave Packard decided to establish their own electronics manufacturing company. Based out their garage in Palo Alto, CA, with an initial investment of only $538, the two helped establish the technology hub that would become Silicon Valley. When they started out, they made everything from high-tech electronics to agricultural products but by the 60’s were homing in on the tech market exclusively. Today, the company is an electronics giant, with some of the highest quality personal computing products on the market. They have opted to preserve the garage where they got their start, making it into a museum.

Amazon: In 1994, Jeff Bezos laid the foundations for what would be the online retailing giant Amazon in his garage, hoping to follow in the footsteps of fellow garage entrepreneurs HP. With a strong foundation, the company grew very quickly, and before long was in need of a much bigger space to house their operations. Today, there are few people who haven’t shopped with the online retailer, buying everything from food to televisions to electronic media. This small business had become one of the leading retailers in the world, with billions of dollars in sales each year.

Disney: While he would go on to build an animation and entertainment empire, Walt Disney’s first studio was a tiny, one car garage in Hollywood. There he worked on a variety of animation products, setting up a makeshift studio in the space, while he waited to see if his Alice in Wonderland pilot would be picked up by any major distributors. It was, and the company quickly moved out of the garage into a proper studio. These days, Disney is an entertainment giant for kids and adults alike with movies, theme parks and products around the world. That tiny garage was almost torn down, but the dedication of a few interested citizens helped to save it and interested visitors can go there today to see where it all began.

Microsoft: In 1975, Bill Gates and Paul Allen founded Microsoft, with just a few resources and an available garage space. Unlike Apple who developed both software and hardware, Microsoft homed in on the software market. Working with IBM, the company licensed their first OS for a mere $80,000. Later, they would go on to develop more sophisticated operating systems that would evolve into those we know as Windows today. The business would grow to be one of the most profitable and powerful in the world, dominating the personal computing market.

MagLite: Anthony Maglica started his dream of owning a business by working long hours to earn the money it would take to put a down payment on his first lathe. Working in a Los Angeles garage, he began to design and build precision parts for industry, aerospace and the military. By 1974, he was incorporated as Mag Instrument and the company was gaining a reputation for the quality of their products. In 1979, MagLite released their first flashlight, the product they are best known for today. It would help them to become a household name and secure their place in the market.

Yankee Candle Company: Unable to afford a present for his mother, young Michael Kittredge created his first scented candle from some melted crayons in his garage. Neighbors saw the candles and began purchasing them from him, eventually motivating the high school student to found a business with two high school friends. Kittredge sold the company in 1999 after a cancer scare, but it has gone on to even greater success and is now sold at many major retailers and a number of its own standalone stores.

Harley Davidson: It makes complete sense that a company selling vehicles would get its start in a garage or outbuilding, because that’s where those products eventually end up. Harley Davidson did just that, starting out in 1901 with a small business that built engines for bicycles. Of course, it wasn’t long before they started developing the motorcycles for which they are known, and in 1903 they had already released their first racing bike, constructed in a small wooden shed. Buoyed by the popularity and speed of their motorcycles, the company expands, constantly rethinking the best ways to build a bike. Today, they’re still known for producing some of the biggest, best motorcycles on the market and have become a household name.


Article Source
http://www.accountingdegree.com/blog/2011/10-big-businesses-that-started-in-a-garage/

Creative Problem Solving Process - video

Creative problem solving is a process. You need both fools and experts on your creative teams.

The Fifteen Most Common Publicity Mistakes Businesses Make

By Pam Lontos

As a business owner, you probably know that publicity is important to your success. But many businesses (and maybe you’re one of them) make crucial mistakes in their publicity campaigns. While some of the mistakes are more detrimental than others, the actual costs can be staggering.
For example, saying the wrong thing to a reporter may only cost you a quote in a national magazine. But in advertising dollars, that quote could have been worth hundreds. And you never really know who would have read the interview. Maybe a reporter for USA Today or maybe Oprah’s producer (or maybe even Oprah herself). Plus, what about all the time, money, and effort you spent in getting that reporter on the phone?
It’s true; everyone makes mistakes. By being aware of the more common ones, at least you can take action to avoid them. If you want to make the most of every publicity opportunity that comes your way, consider the following mistakes that businesses commonly make in their publicity campaigns:

Thinking hundreds of customers will walk through their door from one hit.
Fame and name recognition take time and repetition to build. In fact, a person will need to see your name and logo around six or seven times before they actually remember it. So regardless of what you’ve heard, there’s no such thing as an overnight success.

Not being unique in their approach.
No one wants to hear the same old message over and over again. So develop a hook, or unique angle that sets your business apart from others. For example, if you own a restaurant, consider what’s unique about it. What’s unique about your menu? Has the restaurant been family-owned and operated for generations? Do you offer vegetarian cuisine? The more you can make your message unique or different from the “old way,” the more attention you’ll attract.

Thinking they can’t get into a large publication.
Many small business owners feel intimidated by the big name publications. They envision high-powered magazine editors schmoozing with big company CEOs and lining up interviews with well-known figureheads for the next six months. In reality, editors scramble daily to find people to interview who have knowledge on the latest trends and topics. Realize too that editors must find new and exciting people to interview either weekly or monthly, so the more knowledgeable people they can add to their database, the better. Make yourself stand out as a reliable information source and you will get the media’s attention.

Thinking small publications don’t matter.
Even big name businesses had to build their expertise and name recognition by starting in small publications and trade journals. Although they aren’t sold on newsstands, you never know who’s reading them. So don’t overlook small publications as a foundation for your publicity.


Thinking their ideas are wonderful.
Touting your experience and explaining all the reasons why your business is wonderful to an editor is not an effective way to pitch your ideas. In fact, this is an immediate turn-off. Realize that an editor or reporter only cares about one thing: their readers. So instead of telling them all about your ideas and your business, first learn about their readers and what they want.

Pitching themselves, instead of a story for the audience.
Always pitch a publication or program by highlighting the benefits your business can offer their particular audience. Consider what uniqueness you can offer and why their readers or viewers will be interested in what you have to say.

Pitching the wrong person.
Besides wasting your time, pitching your ideas to the wrong media person will likely frustrate them. If you have an article you’d like to publish, you need to talk to an editor. But if you want to score an interview, you need a reporter.

Not finding out what reporters really want.
As you present your idea to a reporter, ask questions about what they’re looking for and what their audience is looking for. Then make changes to your initial idea based on their responses. Don’t try to “sell” your idea if it isn’t a good fit; instead, promote alternate ideas and emphasize your ability to address a variety of issues.

Not answering the reporter’s questions.
Always let the reporter or interviewer lead the conversation, because they most likely have an agenda for the story’s development already in mind. Don’t attempt to take over the conversation or talk about points the reporter doesn’t want to cover. They simply won’t include you in the final story.

Not getting to the point.
Audiences and readers love to hear firsthand accounts of experiences relating to the topic because it helps them know you on a more personal level. But don’t overload the reporter with unnecessary information that isn’t directly related to the story, and don’t ramble. If you can’t convey your message in a short amount of time, then your answer won’t be used.

Not respecting the reporter’s time.
Reporters work on time sensitive deadlines, and nothing will irritate them more than you being inconsiderate. So before you start pitching your ideas, always ask if they are on deadline. If yes, ask for a more convenient call back time.

Not gearing their pitch to the specific publication.
If you get a “no” response from an editor, reporter, or producer, always ask, “What don’t you like?” Then adapt your presentation on the spot. The more you learn about their needs and customize your message for their specific audience, the more likely you’ll be featured in their publication or on their show.

Making it an advertisement for their product or service.
Authors spend a large portion of their time selling their books because the profession simply demands it. But interviews and articles are not the right place to go on and on about your expertise and knowledge. You must let your information speak for itself. By giving solid, useable information, audiences will automatically know how great your book is.

Not providing their publicist with material and information in a timely manner.
Business owners are busy—that’s a given. But so are publicists, editors, and reporters. In order for your information to get into the right people’s hands, you need to give your publicist the requested information in a timely manner. Your publicist can’t pitch you and your book unless he or she has the most relevant information about you that showcases all you have to offer in a positive way. And if you make your publicist wait for information to send an editor or reporter, you may miss your chance to get interviewed or featured in your desired media outlet.

Not understanding the importance of frequency of publicity.
While it takes a long time to build your name recognition in the marketplace, it takes no time at all for people to forget about you. So you have to maintain the frequency of your publicity throughout the life of your business, especially when your competition maintains the frequency of theirs. Otherwise, you become old news.

Better Publicity in the Future
Just like everyone makes mistakes, everyone can avoid them by being aware of the common ones. When you make yourself aware of these fifteen most common mistakes that business owners make in their publicity campaigns, you can make the most of every opportunity and achieve a greater level of success in your business.

About the Author:
Pam Lontos is owner of PR/PR, a public relations firm that specializes in professional speakers, authors, and experts. Having been an author, speaker, and former VP of Disney's Shamrock Broadcasting, she knows the ropes of getting you good publicity and how to use it to really boost your business. Call for a free consultation at (407) 299-6128, and sign up for a free publicity tips e-newsletter at www.prpr.net.