Solutions Talk

Ready for a little "splurge"?

A quote worth noting: "What we're seeing is different from last year. People are willing to splurge a little -- the affordable splurge." - Danny Wegman, Chairman, Wegmans Markets

Are you suffering from recession-driven, well-intentioned "cutback fatigue"? If so...you are in good company. It seems that many are finally crawling out of their cocoons and into the markets and restaurants in their communities--in search of a little splurge.  If you are going to splurge...what better way to do it than by enjoying a favorite meal or beverage in the company of loved ones?

Those little "affordable splurges" can be good for us--both emotionally and mentally, as well. According to Scientist/blogger and noted foodie Darya Pino, “Digesting fatty foods enhances memory consolidation using the same neural pathway as emotional learning.”

Get Smart. Treat Yourself. Sounds Great!

What's that you say?

Today's Notable Quote: "Get your facts first, then you can distort them as you please." - Mark Twain

Getting the facts...and getting them straight requires something that many regard to be a lost art in this country...attentive listening. Communication experts remind us that Americans will typically hear about half of what is said during a routine conversation - we fill in the blanks by interpreting body language, gestures, facial expressions and our own imaginations.

Learning to listen is, however, critical to the would-be-successful business person in the 21st century. It is not (has it ever really been?) enough to "talk a good game" - you must be able to listen, interpret and respond accordingly.

Dr. Steven Berglas shares some tips for effective listening in the following article from Forbes Magazine: link here to read.

Lead on...2nd or 3rd in your Industry...

"Lead, follow, or get out of the way!" - Anonymous business axiom.

An interesting and quick read on signs we might be pulling out of the recession. The article,  from AOL Business and WS 24/7 says that when companies that are the second or third in their respective industries show even moderate growth for one consecutive quarter or more...hope for an end to this recession may be on the horizon! Read on...   http://money.aol.com/investing/companies-that-will-pull-us-out-of-recession

Black Friday II

Today's Notable Quote: "Sales are up...but we are still disappointed relative to expectations based on the level of discounts being offered." - an unnamed merchant, referring to the "post-Christmas" store sales.

Good is not "good enough". We must break all existing records for consumption of goods, services and experiences before the media and the chain retailers feel that we as consumers have done our part. I must say that I was impressed with the size and behavior of the crowds this "boxing day". Guess that must be due to the fact that I don't own or manage a large "overstocked/overstaffed" retail operation.

Too Many Customers?

Today's Notable Quote: “We did it knowingly.  We are interested in quality, not quantity.” - Daniel R. Hesse, Chief Executive of Sprint Nextel, explaining that Sprint had deliberately rid itself of some of the 901,000 customers the company lost during their second quarter.

In today's "constantly-connected" world, nearly nine out of ten Americans own and carry a cellphone. During the past three months--while Sprint Nextel has been shedding themselves of customers--Verizon and AT&T Wireless have picked up 2.8 million new customers between them.

Mr. Hesse's statements regarding "quality vs. quantity" bring to mind statements from Best Buy CEO Brad Anderson in 2005--when he said that he wanted to separate "angel" customers from the "devils". (Best Buy's angels boost profits by purchasing HDTVs, portable electronics, and newly-released DVDs without waiting for markdowns or rebates.  Devils buy products, apply for rebates, return the purchases and buy them back at returnedgoods discounts. They often load up on deeply discounted merchandise which they flip for a profit on eBay.)

The notion of ridding your organization of your least profitable customers (typically the bottom 20%) is not a new idea--it has been standard business practice for many companies for a number of years. What strikes me as odd in this case is the "element of surprise" in Mr. Hesse's statement. I am surprised that no one else seemed to know that Sprint Nextel had adopted a strategy to purge their customer rolls of "devils".

A "Snacking" Sensibility

Today's Notable Quote: "Over the last 20 years, most of the tools that we humans have invented havemade it easier for us to be information snackers." - Jeff Bezos, from an interview in the June 9, 2008 Wall Street Journal

Interesting times in which we live. My recent reading, both online and on the printed page has provoked me into thinking more deeply about the ramifications of my media consumption habits. My embrace of digital media has enabled me to stay "caught up" on much of the latest information--both nice and need-to-know, and yet I feel at times that I am participating in a marathon in which my objective is to gather data in tiny transactions, to be reassembled and assimilated later.

In his book, The Big Switch, author Nicholas Carr questions the long-term impact of spending more and more time online. Will the "switch" be sustaining or debilitating? Time will tell.

Cyber Snack, anyone?

Now...isn't that special...

Today's Notable Quote: "When choice is limited, I want a generalist. When selection is difficult, a jack of all trades is just fine. But whenever possible, please bring me a brilliant specialist." - Seth Godin from his blogsite.

Who do you call when you need plumbing repaired? Need contact lenses/glasses? Dental work? Consulting? Do you look for someone who is "pretty good" at a number of things...or do you seek out the best (at least, the best you can afford) in their respective field?

I enjoyed Seth Godin's blogpost, We specialize in everything - which offers an interesting perspective on this subject.

How about your business...what makes you "Special"?

Feelin' Special?

Simplicity, please!

Today's Notable Quote: "Simplicity makes me happy." - Alicia Keys, American musical performer (1981 - )

Wouldn't it be great if all things mechanical and technical were simple and straightforward to operate? This would allow us the needed time to work on other complicated things--such as relationships, work deadlines and the pursuit of bliss.

Well...as all of you know, the more things we own, the more things we have to maintain. Maintenance--and even basic operation of some gadgets or online bill-paying processes aren't always as simple as they could be. Case in point is the linked blog from Seth Godin. Read it and laugh (or cry) if you--like me--relate to his examples. The world's worst toaster 

One of many "unnecessarily complicated" 21st Century evils?

Really Big, Big, "Small" Ideas...

Today's Notable Quote: The secret of big-time advertising during the 1960s and ’70s was the “big idea.” In A Big Life in Advertising, ad legend Mary Wells Lawrence writes, “... our goal was to have big, breakthrough ideas, not just to do good advertising. I wanted to create miracles.” - from Seth Godin's Blog.

Smaller, lighter, faster. Disintermediation, e-commerce, airmail and "overnight" (not to mention "same day" courier service) have changed the face of goods and services. Same with advertising. Consumers are, and will continue to seek out new, exciting and most  of all--increasingly engaging Experiences as time goes on.

We wilingly pay more for less--particularly when we can get a napsterized or trial version of the respective economic offering.

3 R's: Reading, Riting, and 'Rithmetic...

Notable Quote: "This is a disruptive approach, the sort of thing only a market leader could pull off. It changes the world in a serious way. I wanted to be part of that." - Seth Godin, from his blogpost entitled You won't find me on Amazon's new book reader.

Seth Godin's post raises some interesting points--and links to an informative article from Newsweek . Read on for more...You won't find me on Amazon's new book reader