The Business Crisis Counselor
By Richard Solomon
Thursday, March 27 2008
When there is an apprehension of difficulty, getting prepared to deal with the possibilities is less difficult/easier than when everything has already hit the fan. It is possible to manage personal apprehensions well before the fact at a stress level that doesn't have everyone reaching for their anxiety medications.
Since very few people ever have the misfortune to do this both ways -- way before the fact and at the moment of attack -- it's hard to appreciate the difference in levels of difficulty.
Having seen it both ways, I can reliably report that early warning prophylaxis is easier on the soul, easier on the budget, and far superior in the sense that the options are maximized. What you can do once an assault has begun or is about to begin immediately is greatly restricted by comparison. When assault has begun, triggers are pulled that may limit defensive strategies.
Denial is the most expensive company dynamic. Even if you are reasonably satisfied that "nothing is wrong," you need to take into account that if the sentiment is reliable and nothing is wrong in fact, that verification is worth a great deal in psychic revenue as well as downstream risk.
To view the rest go to: Personalities Under Stress: Timing Preparedness in Crisis Management The Business Crisis Counselor
Showing posts with label business management. Show all posts
Showing posts with label business management. Show all posts
4.21.2008
3.03.2008
Helpful Tools: How To Find New Clients | eHow.com
How to Find New Clients
Step 1:Picking new places to advertise your business. Check into new publications in your area. Many of them will offer free or low cost advertising price.
Step 2:Check out networking groups in your area. When you find a local networking group in your area get involved. These are called GBR, which stand for Group Business Referral. If you cannot find one in your area think about starting one with other local business owners.
Step 3:National groups are another great place to find clients. There are a number of these groups and most have local chapters. Just a few minutes and surf the internet for groups that pertain to your business. One example is National Association of Women Business Owners; they have chapters all over the United States.
Step 4:Get to know new business owners in your area. Once you find the new businesses, go and take some time to introduce yourself.
Step 5:Develop a website. We are all becoming do dependent on the internet so use it to your advantage. If you have a website, take the time and money to maintain and update it. Make it stand out against all the others.
Step 6:Talk with family, friends and neighbors for referrals. When invited to parties look at them as new people to talk with about your business.
Step 7:Use bulletin boards in local places of business, such as grocery stores, retail business, and libraries.
How To Find New Clients eHow.com
Step 1:Picking new places to advertise your business. Check into new publications in your area. Many of them will offer free or low cost advertising price.
Step 2:Check out networking groups in your area. When you find a local networking group in your area get involved. These are called GBR, which stand for Group Business Referral. If you cannot find one in your area think about starting one with other local business owners.
Step 3:National groups are another great place to find clients. There are a number of these groups and most have local chapters. Just a few minutes and surf the internet for groups that pertain to your business. One example is National Association of Women Business Owners; they have chapters all over the United States.
Step 4:Get to know new business owners in your area. Once you find the new businesses, go and take some time to introduce yourself.
Step 5:Develop a website. We are all becoming do dependent on the internet so use it to your advantage. If you have a website, take the time and money to maintain and update it. Make it stand out against all the others.
Step 6:Talk with family, friends and neighbors for referrals. When invited to parties look at them as new people to talk with about your business.
Step 7:Use bulletin boards in local places of business, such as grocery stores, retail business, and libraries.
How To Find New Clients eHow.com
2.27.2008
Helpful Info: Multicultural Marketing
Survey: Marketers still don't get how to do multicultural marketing
By Beth Snyder
BulikAdAge.com
(February 25, 2008)
Marketers are hiring more talent and spending more money than ever to chase multicultural consumers, yet they are divided on how to reach them -- and unsure they're getting good returns on their investments. While 84% of the marketers believe multicultural marketing is "critical to my business," almost 40% said they don't know the financial value of multicultural groups to their companies, according to a study for executive search firm Heidrick & Struggles by Brandiosity.
They also had a variety of opinions on which agencies to hire to reach the Hispanic, African-American and Asian groups. Of the 60 companies that were surveyed on which shops they use for multicultural-marketing services, 58% said they tap general-market-research firms; 51% said they use multicultural agencies; 42% use general-market agencies; and 35% use multicultural-research firms. 'Same stuff' as 20 years agoIn fact the overall picture painted by the survey suggests there's still a good deal of confusion about the multicultural market.
Pepper Miller, president of Miller Hunter Group, a market-research and planning group in Chicago, said marketers really don't understand it any better than they did 20 years ago. "I entered the business in 1985. The other day I found a paper I wrote back then, and I read it and I thought, 'Man, this is the same stuff we're saying now!'" More than two-thirds of the respondents were chief marketing officers or senior VPs of marketing. Another 14% were VPs, managers or directors. They represented a wide variety of industries including retail, consumer package goods, telecom, financial services, fast food and apparel. Carla Palazio, partner at Heidrick & Struggles, said the recruiting firm commissioned the study to discover what companies need -- particularly what sort of talent they're looking for -- to target multicultural segments, specifically through the eyes of the CMO.
What it found was a disconnect: Multicultural marketing is perceived as very important -- but there are still a lot of companies that lack a real companywide strategy to address it. "The root of this is the lack of awareness at the organization. While the CMO understands it well, they almost have to evangelize [the value of multicultural marketing] to the rest of the company," Ms. Palazio said. Indeed, among the 20 biggest challenges executives expressed, almost half could be categorized as problems proving merit inside the company. They listed roadblocks such as "explaining to management their importance," "getting buy-in and support from company leadership," and "getting senior level marketers to understand that the world is changing." Mike Fasulo, CMO of Sony Electronics, said he has experienced some of the disparities the study uncovered. "I can respect some of those statistics, because it took us two years before we went to market because we wanted it to be comprehensive and sincere."
Mr. Fasulo's group made multicultural marketing a priority about three years ago and today has an internal team dedicated to it, as well an outside multicultural agency, research and insight initiatives, and retail partnerships. Undervalued worthHowever, he was surprised that more companies didn't know the financial worth of multicultural segments, because the data are there. In electronics, for example, he said many product categories overindex for multicultural groups vs. the general population, including flat-panel TVs, satellite radio and video gaming. And though the economy has slowed, both disposable income and growth of multicultural segments "far exceed" the general market, Mr. Fasulo said. Respondents also were asked which minority segment was most important to their businesses. The majority selected Hispanics first at 65%, followed by African-Americans at 30% and Asians at 24%.
However, the respondents were split over the idea that it "takes a Latino to market to a Latino." Some 35% agreed, while 39% disagreed. "For myself, I believe I've had an easier time," said Alberto J. Ferrer, managing partner at the Vidal Partnership. "But I see many non-Hispanics do well. They tend to be open, willing to listen to the agency, and they don't live in the land of clich�s -- or, as I wrote in one of my blogs, the land of sombreros and maracas." As for using general-market researchers rather than multicultural agencies or researchers, Ms. Miller said: "That is such a big mistake. I'm still so frustrated with general-market research. So much of it is disrespectful, and it's just too vanilla -- and not just for African-Americans but for Latinos and for Asians, too." Lack of structureBut why the disparity between increased efforts and lower perceived effectiveness? One reason may lie within the study, in that 44% of the executives said their companies were not effectively organized to handle multicultural marketing.
So new hires and ad-budget increases become lost or marginalized in a system not structured to handle them. Isaac Mizrahi, director of multicultural marketing at Sprint and one of the survey participants, agreed that the results seem contradictory. "When I see results like this, it makes me wonder what exactly is their definition of multicultural marketing," he said. The findings indicate "there is still a significant amount of education that needs to happen," he said. "There are a lot of preconceived ideas about multicultural markets. And to be honest, it's not an easy area. It takes a lot of time, a lot of insight and research, and truly understanding the marketplace before you even propose something." Ms. Palazio said multicultural marketing will grow when other marketers see the results of companies such as Home Depot, Verizon, Bank of America and ING. "They're already seeing 10% to 12% of revenue coming from this segment," she said. "That's the easiest way for other companies to have a reality check."
Mr. Ferrer said: "There is a bona fide business opportunity here, and if you don't see that, you're not a smart businessperson. It's not about being a bigot; it's about being smart. ... I understand people not doing [multicultural marketing] because of tight budgets or [lack of] company support, but not knowing is just silly."
Survey: Marketers still don't get how to do multicultural marketing
By Beth Snyder
BulikAdAge.com
(February 25, 2008)
Marketers are hiring more talent and spending more money than ever to chase multicultural consumers, yet they are divided on how to reach them -- and unsure they're getting good returns on their investments. While 84% of the marketers believe multicultural marketing is "critical to my business," almost 40% said they don't know the financial value of multicultural groups to their companies, according to a study for executive search firm Heidrick & Struggles by Brandiosity.
They also had a variety of opinions on which agencies to hire to reach the Hispanic, African-American and Asian groups. Of the 60 companies that were surveyed on which shops they use for multicultural-marketing services, 58% said they tap general-market-research firms; 51% said they use multicultural agencies; 42% use general-market agencies; and 35% use multicultural-research firms. 'Same stuff' as 20 years agoIn fact the overall picture painted by the survey suggests there's still a good deal of confusion about the multicultural market.
Pepper Miller, president of Miller Hunter Group, a market-research and planning group in Chicago, said marketers really don't understand it any better than they did 20 years ago. "I entered the business in 1985. The other day I found a paper I wrote back then, and I read it and I thought, 'Man, this is the same stuff we're saying now!'" More than two-thirds of the respondents were chief marketing officers or senior VPs of marketing. Another 14% were VPs, managers or directors. They represented a wide variety of industries including retail, consumer package goods, telecom, financial services, fast food and apparel. Carla Palazio, partner at Heidrick & Struggles, said the recruiting firm commissioned the study to discover what companies need -- particularly what sort of talent they're looking for -- to target multicultural segments, specifically through the eyes of the CMO.
What it found was a disconnect: Multicultural marketing is perceived as very important -- but there are still a lot of companies that lack a real companywide strategy to address it. "The root of this is the lack of awareness at the organization. While the CMO understands it well, they almost have to evangelize [the value of multicultural marketing] to the rest of the company," Ms. Palazio said. Indeed, among the 20 biggest challenges executives expressed, almost half could be categorized as problems proving merit inside the company. They listed roadblocks such as "explaining to management their importance," "getting buy-in and support from company leadership," and "getting senior level marketers to understand that the world is changing." Mike Fasulo, CMO of Sony Electronics, said he has experienced some of the disparities the study uncovered. "I can respect some of those statistics, because it took us two years before we went to market because we wanted it to be comprehensive and sincere."
Mr. Fasulo's group made multicultural marketing a priority about three years ago and today has an internal team dedicated to it, as well an outside multicultural agency, research and insight initiatives, and retail partnerships. Undervalued worthHowever, he was surprised that more companies didn't know the financial worth of multicultural segments, because the data are there. In electronics, for example, he said many product categories overindex for multicultural groups vs. the general population, including flat-panel TVs, satellite radio and video gaming. And though the economy has slowed, both disposable income and growth of multicultural segments "far exceed" the general market, Mr. Fasulo said. Respondents also were asked which minority segment was most important to their businesses. The majority selected Hispanics first at 65%, followed by African-Americans at 30% and Asians at 24%.
However, the respondents were split over the idea that it "takes a Latino to market to a Latino." Some 35% agreed, while 39% disagreed. "For myself, I believe I've had an easier time," said Alberto J. Ferrer, managing partner at the Vidal Partnership. "But I see many non-Hispanics do well. They tend to be open, willing to listen to the agency, and they don't live in the land of clich�s -- or, as I wrote in one of my blogs, the land of sombreros and maracas." As for using general-market researchers rather than multicultural agencies or researchers, Ms. Miller said: "That is such a big mistake. I'm still so frustrated with general-market research. So much of it is disrespectful, and it's just too vanilla -- and not just for African-Americans but for Latinos and for Asians, too." Lack of structureBut why the disparity between increased efforts and lower perceived effectiveness? One reason may lie within the study, in that 44% of the executives said their companies were not effectively organized to handle multicultural marketing.
So new hires and ad-budget increases become lost or marginalized in a system not structured to handle them. Isaac Mizrahi, director of multicultural marketing at Sprint and one of the survey participants, agreed that the results seem contradictory. "When I see results like this, it makes me wonder what exactly is their definition of multicultural marketing," he said. The findings indicate "there is still a significant amount of education that needs to happen," he said. "There are a lot of preconceived ideas about multicultural markets. And to be honest, it's not an easy area. It takes a lot of time, a lot of insight and research, and truly understanding the marketplace before you even propose something." Ms. Palazio said multicultural marketing will grow when other marketers see the results of companies such as Home Depot, Verizon, Bank of America and ING. "They're already seeing 10% to 12% of revenue coming from this segment," she said. "That's the easiest way for other companies to have a reality check."
Mr. Ferrer said: "There is a bona fide business opportunity here, and if you don't see that, you're not a smart businessperson. It's not about being a bigot; it's about being smart. ... I understand people not doing [multicultural marketing] because of tight budgets or [lack of] company support, but not knowing is just silly."
Survey: Marketers still don't get how to do multicultural marketing
2.25.2008
Helpful Example: Great Exposure
How your ROI becomes greater than your initial investment
MWPRInsight
holy matrimony (http://www.holymatrimonyonline.com/) owner Vicky Johnson has been extremely busy these past few months. In a low cost and creative way, she has strategically showcased her large budget weddings placing the spotlight on her wedding planning firm. And, it has been paying off. Her blog, http://www.dcnearlyweds.com/ is the most popular wedding blog out there and has caught the attention of media, highly recongnized planners and admirers far and wide.
This is an example of how creative marketing doesn't necessarily have to mean expensive budget. Your ROI can indeed be greater than your initial investment.
Checkout the hits:
- Grace Ormonde Wedding Style Platinum List 2008 http://www.weddingstylemagazine.com/
- Washington Express 1/23/08 All for Favors Say Aye Do. http://www.readexpress.com/read_freeride/2008/01/wedding_guide_all_for_favors_say_aye_do.phpThe
- Hill: 2/1/08 Planning a Wedding is not a piece of cake. http://thehill.com/op-eds/planning-a-wedding-is-not-a-piece-of-cake-2008-02-06.html
- DC Nearlyweds named Most Comprehensive Wedding Blog by Wedding Blog Awards.com http://www.weddingblogawards.com/2007/12/dc-nearlyweds-wins-our-most-comprehensive-wedding-blog-award.html
- Style Network's Whose Wedding Is It Anyway? Season 7 Featured Planner Air dates to be announced.
2.14.2008
Helpful Tools: Hard times spreading just like the flu
Ad drop prompts Tribune cutbacks
As many as 500 jobs targeted by company
By Phil Rosenthal Tribune media columnist
February 14, 2008
Stressing he still believes Tribune Co. cannot cut its way to prosperity but citing the impact of "a weak economy and significant declines in advertising volume at our newspapers," Chairman and Chief Executive Sam Zell announced cutbacks at the flagship Chicago Tribune and its sister papers Wednesday.
Between those and previously reported reductions at Tribune Co.'s corporate offices, sources said these cuts were likely to eliminate at least 400 to 500 positions companywide, or about 2 percent of its workforce. Zell said Tribune Co.'s broadcasting and interactive divisions, both of which have new leadership as of this week, remain under examination.Chicago Tribune Publisher Scott Smith told staff that the paper looks to eliminate about 100 jobs in nearly all areas, or about 3.5 percent of its roster, by the end of March through buyouts, layoffs, attrition and closing open positions.
"It was a rough year last year, but I would say business got a whole lot tougher at year end and so far this year," Smith said in an interview. "If we thought it was a one- or two-month blip in business conditions, we would make sure we weren't overreacting. But there are no signs of near-term improvement in business. That's why we made the decisions now."Zell, who led the $8.2 billion transaction that took Tribune Co. private late last year, wrote to staff that these reductions were necessary because of "the reality of our significant debt levels and financial covenant obligations." He expected most of the affected positions will be in support-service areas, such as finance, human resources and technology."I can't turn this ship from its course of the past 10 years within just a few months," Zell said in his memo. "Further, while I will do everything in my power to drive, pull and drag this company forward, I can't promise we won't see additional position eliminations in the future if we continue at our current rate of cash-flow decline. But, make no mistake. This is not my ultimate strategy."It will be up to the management of individual Tribune Co. papers how reductions are achieved. The Los Angeles Times aims to cut 100 to 150 jobs, including 40 to 50 in the newsroom, while the Baltimore Sun and Hartford Courant each look to get rid of 45 jobs. A source said New York's Newsday intends to eliminate 70 to 80 jobs.The effect on Tribune Co. papers in Florida (Orlando Sentinel and South Florida Sun-Sentinel), Pennsylvania (The Morning Call) and Virginia (Daily Press) was not immediately known.
The Daily Press last month said it was eliminating 14 positions after reducing its staff by close to 100 in recent years.Smith said total revenue for the Chicago Tribune Media Group was down 5 percent in January, and ad revenue was down double digits, continuing a trend from last year, while cash flow decreased beyond the 8 percent drop recorded in 2007.An incentive for employees to volunteer for buyouts is the indication the company will reduce its severance packages next year, but not everyone who volunteers for a buyout will be accepted. Exit packages, voluntary or not, will be paid through the overfunded part of Tribune Co. employees' cash-balance pension plan, which the company estimates has $300 million more than it needs.----------
philrosenthal@tribune.com
As many as 500 jobs targeted by company
By Phil Rosenthal Tribune media columnist
February 14, 2008
Stressing he still believes Tribune Co. cannot cut its way to prosperity but citing the impact of "a weak economy and significant declines in advertising volume at our newspapers," Chairman and Chief Executive Sam Zell announced cutbacks at the flagship Chicago Tribune and its sister papers Wednesday.
Between those and previously reported reductions at Tribune Co.'s corporate offices, sources said these cuts were likely to eliminate at least 400 to 500 positions companywide, or about 2 percent of its workforce. Zell said Tribune Co.'s broadcasting and interactive divisions, both of which have new leadership as of this week, remain under examination.Chicago Tribune Publisher Scott Smith told staff that the paper looks to eliminate about 100 jobs in nearly all areas, or about 3.5 percent of its roster, by the end of March through buyouts, layoffs, attrition and closing open positions.
"It was a rough year last year, but I would say business got a whole lot tougher at year end and so far this year," Smith said in an interview. "If we thought it was a one- or two-month blip in business conditions, we would make sure we weren't overreacting. But there are no signs of near-term improvement in business. That's why we made the decisions now."Zell, who led the $8.2 billion transaction that took Tribune Co. private late last year, wrote to staff that these reductions were necessary because of "the reality of our significant debt levels and financial covenant obligations." He expected most of the affected positions will be in support-service areas, such as finance, human resources and technology."I can't turn this ship from its course of the past 10 years within just a few months," Zell said in his memo. "Further, while I will do everything in my power to drive, pull and drag this company forward, I can't promise we won't see additional position eliminations in the future if we continue at our current rate of cash-flow decline. But, make no mistake. This is not my ultimate strategy."It will be up to the management of individual Tribune Co. papers how reductions are achieved. The Los Angeles Times aims to cut 100 to 150 jobs, including 40 to 50 in the newsroom, while the Baltimore Sun and Hartford Courant each look to get rid of 45 jobs. A source said New York's Newsday intends to eliminate 70 to 80 jobs.The effect on Tribune Co. papers in Florida (Orlando Sentinel and South Florida Sun-Sentinel), Pennsylvania (The Morning Call) and Virginia (Daily Press) was not immediately known.
The Daily Press last month said it was eliminating 14 positions after reducing its staff by close to 100 in recent years.Smith said total revenue for the Chicago Tribune Media Group was down 5 percent in January, and ad revenue was down double digits, continuing a trend from last year, while cash flow decreased beyond the 8 percent drop recorded in 2007.An incentive for employees to volunteer for buyouts is the indication the company will reduce its severance packages next year, but not everyone who volunteers for a buyout will be accepted. Exit packages, voluntary or not, will be paid through the overfunded part of Tribune Co. employees' cash-balance pension plan, which the company estimates has $300 million more than it needs.----------
philrosenthal@tribune.com
2.11.2008
Helpful Tools: Folio Magazine
Publishers Prepare for Recession
Executives to continue investing, emphasize innovation during tough times.
By FOLIO Staff
Publishers are facing a cost crunch and a potential revenue shortfall in 2008, particularly as the economy seems to inch toward recession. American Business Media recently polled some of its members about how they see the economy affecting their business. One was Hanley Wood, one of the hottest b-to-b publishers of the last decade, which is facing a down housing market. “The economy will not be a boost to anyone this year,” CEO Frank Anton told ABM. “Unfortunately, the economy will definitely be sluggish at best and at worst, we will face a recession.”
FOLIO: asked publishing executives around the industry what steps they’re taking, if any, to prepare for a potential recession—where they will invest and where they will scale back, and what products they will turn to for continued growth and what products may bear the brunt of a downturn. Most say they are expecting softness in print while online continues to grow. Following the recession in 2001, publishers claim they learned the hard way about cutting their budgets too much, and that a downturn is the time to reinvest and gain market share while competitors fall back. Whether that will happen remains to be seen.
Below are verbatim responses from publishers representing different aspects of the industry, including large and small, b-to-b and consumer, and city and regional.
NAME: John Koten
TITLE: CEO Mansueto Ventures
RECESSION PLAN: Our plans call for about a 10 percent increase in spending this year. At worst, we will slow the rate of that growth but we will not cut back spending in any of our divisions this year.
We will continue to invest in all areas of our business. We look at our company as a long-term proposition and we can afford to do that because we are not subject to the short-term pressures of public ownership. There’s more opportunity to differentiate ourselves in the marketplace and to offer value to customers right now, when others are cutting back. The Fast Company brand has a lot of momentum right now, so that’s where we will be investing the most.
What we’ve learned from the past is to avoid triggering a downward spiral, where cost cutting exaggerates the negative impact of broader economic forces. If you have to take a hit, take it. But don’t try to pass along all the pain to your customers because your business will pay for it in the end.
NAME: Jeff Lapin
TITLE: President, Farm Progress
RECESSION PLAN: Recessions are transitory but the damage can be permanent if we answer by taking our foot off the gas. It’s important for us to continue to focus on delivering value to our customers and not let up on making targeted investment if we expect our business to deliver solid long-term growth.
NAME: Steve Palm
TITLE: CEO, New Bay Media
RECESSION PLAN: Different segments of our markets are performing differently. Those that are hot will continue, those that are challenged will continue to be challenged. I don’t think it’s any different than 12 months ago.
We’re not holding off on the sales end. We’re continuing to look for good salespeople—with not only print but those with online and integrated sales experience—wherever and whenever we can get them. Where we’re likely to postpone hiring, and we’re not talking about any headcount reduction at this point, are areas where customers don’t feel it—back office, finance, HR, accounting.
We’ll continue to make big investments in the Web as part of planned growth. We have been looking at digital editions in addition to e-newsletters.
NAME: Peggy Walker
TITLE: President and COO, Vance Publishing
RECESSION PLAN: Our fiscal year begins on April 1 so we are in the midst of budgeting right now. We have included a risk factor in our revenue budgets because of economic uncertainty. The factor varies by market segment. For example, some of our products are tied to the housing industry and we’ve accounted for that slowdown. Other markets in which we publish are not as sensitive to the economy such as agriculture where we don’t have a significant risk factor in the budget.
NAME: Christina Grdovic
TITLE: VP and publisher, Food & Wine
RECESSION PLAN: It’s business as usual over here. 2007 was our best ad performance year in our history and the magazine is breaking records at the newsstand. With 2008 being the 30th anniversary of the magazine, we have a lot of exciting things going on. We’re going to continue to invest in our entire brand.
One area of investment of particular focus is our online platform, foodandwine.com. We’re in the process of enhancing the look and feel of this medium while we’re integrating our sales force in a more competitive way. We expect this to be a big growth business for us.
Should advertisers be narrowing their media choices as times get tougher, they will be looking to maximize their buys for the greatest efficiency. Events and platforms such as our Food & Wine Classic in Aspen and Food & Wine Best New Chefs are proven in delivering ROI, so I feel we’re in a very strong place and a clear choice for advertisers and marketers.
NAME: Larry Burstein
TITLE: Publisher, New York
RECESSION PLAN: The interesting thing about us is that we’re a magazine with a very broad ad base. When you hear about different magazine ad sectors—like the auto sector or the beauty sector or the fashion/retail sector—getting hit by the recession, we’re in a position where we can look at the local ad buyers. We’re not dependent on any one category. So the answer to the question of “How are you preparing for a recession?” is we’re not doing anything.
As a weekly magazine with a two week close, it means that ad buyers can make quicker decisions with their money. I suppose conversely they could pull their advertising out quicker (in a recession) but overall I’m happier with a shorter window.
Being in the New York market, there’s a disproportionate amount of (sales opportunities) here, which in a period of economic downturn sometimes take longer to take effect.
NAME: Kerry Gumas
TITLE: President and CEO, Questex Media
RECESSION PLAN: In our case, I would say about 60 percent of our publishing business is serving a marketplace that’s a b-to-b market, but one that’s ultimately consumer demand driven—entertainment, beauty, and travel, for example. So we have a pretty diverse look at the marketplace and my feeling is that so far we’ve been very fortunate because we haven’t seen any significant change in marketers’ plans for 2008 in the sectors that we’re operating in.
We’re still looking at launches--we’ve got a fairly active program. I don’t think we can stop that, I think that’s fundamental now to the business, you have to have some innovation going on. I think you need to be smart about picking the opportunities.
On the acquisition front, we have a pretty active program and we’re going to continue to hold that as part of our strategy going forward. But at this point we’ve been through nine in the last year, so we’ve been pretty busy. I think not so much for economic reasons but for the pace that we were on I do want to slow down and make sure we’re focused on integrating correctly and this is a good time for us to do that.
NAME: Cynthia Good
TITLE: Editor and CEO, Pink
RECESSION PLAN: It will be a challenging time but there will be bright spots of growth. Pink is expanding—I think it’s because it’s a niche and fills a need. We are investing in sales and technology staff. Because of the tight squeeze on the economy, there’s more pressure to bring in revenue and visibility online. With this economy, there’s the same demand for content but it needs to be disseminated in a different way. We are also investing more in strong freelancers. It’s critical to outsource. It’s a way to eliminate risk and be conservative with new ventures.
We are also doing a review of all our numbers, energy and resources. As the owner of a small business, it’s important to pay attention to where every penny is spent. We are not lowering anybody’s salary but there’s pressure to hold down pay raises. I’m frustrated that we can’t give bigger raises. I think writers especially should be paid more.
http://www.foliomag.com/2008/publishers-prepare-recession
Executives to continue investing, emphasize innovation during tough times.
By FOLIO Staff
Publishers are facing a cost crunch and a potential revenue shortfall in 2008, particularly as the economy seems to inch toward recession. American Business Media recently polled some of its members about how they see the economy affecting their business. One was Hanley Wood, one of the hottest b-to-b publishers of the last decade, which is facing a down housing market. “The economy will not be a boost to anyone this year,” CEO Frank Anton told ABM. “Unfortunately, the economy will definitely be sluggish at best and at worst, we will face a recession.”
FOLIO: asked publishing executives around the industry what steps they’re taking, if any, to prepare for a potential recession—where they will invest and where they will scale back, and what products they will turn to for continued growth and what products may bear the brunt of a downturn. Most say they are expecting softness in print while online continues to grow. Following the recession in 2001, publishers claim they learned the hard way about cutting their budgets too much, and that a downturn is the time to reinvest and gain market share while competitors fall back. Whether that will happen remains to be seen.
Below are verbatim responses from publishers representing different aspects of the industry, including large and small, b-to-b and consumer, and city and regional.
NAME: John Koten
TITLE: CEO Mansueto Ventures
RECESSION PLAN: Our plans call for about a 10 percent increase in spending this year. At worst, we will slow the rate of that growth but we will not cut back spending in any of our divisions this year.
We will continue to invest in all areas of our business. We look at our company as a long-term proposition and we can afford to do that because we are not subject to the short-term pressures of public ownership. There’s more opportunity to differentiate ourselves in the marketplace and to offer value to customers right now, when others are cutting back. The Fast Company brand has a lot of momentum right now, so that’s where we will be investing the most.
What we’ve learned from the past is to avoid triggering a downward spiral, where cost cutting exaggerates the negative impact of broader economic forces. If you have to take a hit, take it. But don’t try to pass along all the pain to your customers because your business will pay for it in the end.
NAME: Jeff Lapin
TITLE: President, Farm Progress
RECESSION PLAN: Recessions are transitory but the damage can be permanent if we answer by taking our foot off the gas. It’s important for us to continue to focus on delivering value to our customers and not let up on making targeted investment if we expect our business to deliver solid long-term growth.
NAME: Steve Palm
TITLE: CEO, New Bay Media
RECESSION PLAN: Different segments of our markets are performing differently. Those that are hot will continue, those that are challenged will continue to be challenged. I don’t think it’s any different than 12 months ago.
We’re not holding off on the sales end. We’re continuing to look for good salespeople—with not only print but those with online and integrated sales experience—wherever and whenever we can get them. Where we’re likely to postpone hiring, and we’re not talking about any headcount reduction at this point, are areas where customers don’t feel it—back office, finance, HR, accounting.
We’ll continue to make big investments in the Web as part of planned growth. We have been looking at digital editions in addition to e-newsletters.
NAME: Peggy Walker
TITLE: President and COO, Vance Publishing
RECESSION PLAN: Our fiscal year begins on April 1 so we are in the midst of budgeting right now. We have included a risk factor in our revenue budgets because of economic uncertainty. The factor varies by market segment. For example, some of our products are tied to the housing industry and we’ve accounted for that slowdown. Other markets in which we publish are not as sensitive to the economy such as agriculture where we don’t have a significant risk factor in the budget.
NAME: Christina Grdovic
TITLE: VP and publisher, Food & Wine
RECESSION PLAN: It’s business as usual over here. 2007 was our best ad performance year in our history and the magazine is breaking records at the newsstand. With 2008 being the 30th anniversary of the magazine, we have a lot of exciting things going on. We’re going to continue to invest in our entire brand.
One area of investment of particular focus is our online platform, foodandwine.com. We’re in the process of enhancing the look and feel of this medium while we’re integrating our sales force in a more competitive way. We expect this to be a big growth business for us.
Should advertisers be narrowing their media choices as times get tougher, they will be looking to maximize their buys for the greatest efficiency. Events and platforms such as our Food & Wine Classic in Aspen and Food & Wine Best New Chefs are proven in delivering ROI, so I feel we’re in a very strong place and a clear choice for advertisers and marketers.
NAME: Larry Burstein
TITLE: Publisher, New York
RECESSION PLAN: The interesting thing about us is that we’re a magazine with a very broad ad base. When you hear about different magazine ad sectors—like the auto sector or the beauty sector or the fashion/retail sector—getting hit by the recession, we’re in a position where we can look at the local ad buyers. We’re not dependent on any one category. So the answer to the question of “How are you preparing for a recession?” is we’re not doing anything.
As a weekly magazine with a two week close, it means that ad buyers can make quicker decisions with their money. I suppose conversely they could pull their advertising out quicker (in a recession) but overall I’m happier with a shorter window.
Being in the New York market, there’s a disproportionate amount of (sales opportunities) here, which in a period of economic downturn sometimes take longer to take effect.
NAME: Kerry Gumas
TITLE: President and CEO, Questex Media
RECESSION PLAN: In our case, I would say about 60 percent of our publishing business is serving a marketplace that’s a b-to-b market, but one that’s ultimately consumer demand driven—entertainment, beauty, and travel, for example. So we have a pretty diverse look at the marketplace and my feeling is that so far we’ve been very fortunate because we haven’t seen any significant change in marketers’ plans for 2008 in the sectors that we’re operating in.
We’re still looking at launches--we’ve got a fairly active program. I don’t think we can stop that, I think that’s fundamental now to the business, you have to have some innovation going on. I think you need to be smart about picking the opportunities.
On the acquisition front, we have a pretty active program and we’re going to continue to hold that as part of our strategy going forward. But at this point we’ve been through nine in the last year, so we’ve been pretty busy. I think not so much for economic reasons but for the pace that we were on I do want to slow down and make sure we’re focused on integrating correctly and this is a good time for us to do that.
NAME: Cynthia Good
TITLE: Editor and CEO, Pink
RECESSION PLAN: It will be a challenging time but there will be bright spots of growth. Pink is expanding—I think it’s because it’s a niche and fills a need. We are investing in sales and technology staff. Because of the tight squeeze on the economy, there’s more pressure to bring in revenue and visibility online. With this economy, there’s the same demand for content but it needs to be disseminated in a different way. We are also investing more in strong freelancers. It’s critical to outsource. It’s a way to eliminate risk and be conservative with new ventures.
We are also doing a review of all our numbers, energy and resources. As the owner of a small business, it’s important to pay attention to where every penny is spent. We are not lowering anybody’s salary but there’s pressure to hold down pay raises. I’m frustrated that we can’t give bigger raises. I think writers especially should be paid more.
http://www.foliomag.com/2008/publishers-prepare-recession
2.10.2008
MWPRInsight: A Lesson in Diversity PR
Corporate America -- Don’t Preach Diversity, Practice It
New America Media, News Analysis, Earl Ofari Hutchinson
Posted: Oct 31, 2007
Editor's Note: Stanley O’Neal, forced out of the top job at Merrill Lynch, is the highest ranking casuality of the sub-prime loan fiasco -- even as diversity in corporate America is still an issue.
With the forced retirement of Merrill Lynch CEO E. Stanley O’Neal, the ranks of African-American top gun Fortune 500 company CEOs was sliced from six to five. O’Neal’s fall had nothing to do with race, but rather questionable investments that caused the company’s stock to plunge, and supposedly being a loner type in a corporate culture that thrives on “good old boy” insider networking. But the demise of O’Neal, for whatever reason, still raises fresh questions about how committed many corporations are to making diversity a reality in their boardrooms and in management.
The answer varies widely from corporation to corporation. Fifty companies appear on Fortune Magazine’s list of corporations with the best track record for diversity. Minorities made up almost 21 percent of their boardrooms in 2003, compared with 11 percent two years earlier. The figures almost certainly have edged up even more since then. But for every one of the 50 corporations that makes diversity more than a buzz word, there are dozens more that pat themselves on the back for having one Latino, Asian or African American on their board, or for hiring a handful in lower-level management positions.In recent years, some of America's biggest and best-known corporations that have been widely praised as having a good track record on minority hiring and promotions have been plastered with discrimination lawsuits. Texaco, Coca-Cola, Boeing, Lockheed Martin and Toyota have been thrust into the legal hot seat and have made costly settlements or signed consent decrees with the EEOC.
Forty years after the passage of the 1964 Civil Rights Act that forbade workplace discrimination and Executive Order 11246, signed by Lyndon Johnson in 1965, that prodded firms to promote management diversity, many companies still practice their own subtle brand of workplace apartheid. Despite the well-publicized rise of O’Neal and other black executives at AOL-Time Warner, American Express and Aetna, black CEOs are still a rarity at most of the Fortune 1000 corporations.
The overwhelming majority of senior managers at these companies are white males, and as is evident from the rash of management discrimination lawsuits, women and minority managers are still paid less on average than their white, male counterparts. They are still just as likely to be pigeonholed in departments such as head of “special markets” or “minority affairs.”An embarrassing and highly publicized corporate discrimination case may bring the issue onto the public radar, but then it’s back to business as usual. That business, more often than not, is discrimination. It takes place quietly and far out of public view. The worst offending corporations employ a variety of tactics to mask discrimination. They issue glowing press releases, brochures, assorted handouts and annual stockholder reports loaded with pictures of smiling women and minority employees that tout their commitment to diversity. With much public fanfare, they establish minority and women hiring and training programs.
The refusal of many companies to make diversity the watchword in middle and upper management is bad enough, but even worse is the relentlessly hostile environment that many companies create and maintain toward minorities.Since 1990, the number of complaints of racial harassment toward employees has climbed. Black and Latino employees have been poked with sticks, called racial slurs, have had pictures of burning crosses and white sheets placed near their lockers, have discovered the initials KKK carved on tables and benches, and even found nooses hanging at or near their desks.
Most CEOs are not hypocrites when they say that they work hard to hire and promote more minorities and women. But the degree of real commitment to diversity hinges on the commitment of a corporation’s top CEO and its board. When CEOs implement an outreach program that includes a diversity task force, aggressive recruiters, and a mentoring program aimed at moving talented female and minority employees up the corporate career ladder, diversity will be readily apparent in the company’s hires and promotions.O’Neal’s departure was disappointing, given the still relative paucity of minority and women Fortune 500 CEO leaders. But even if O’Neal had stayed in good grace with Merrill, and had a long shelf life there, the challenge to corporate laggards on diversity wouldn’t change. And that is, don’t just preach it – practice it.
New America Media Associate Editor Earl Ofari Hutchinson is an author and political analyst. His new book is The Latino Challenge to Black America: Towards a Conversation between African-Americans and Hispanics (Middle Passage Press). Corporate America -- Don’t Preach Diversity, Practice It - NAM
New America Media, News Analysis, Earl Ofari Hutchinson
Posted: Oct 31, 2007
Editor's Note: Stanley O’Neal, forced out of the top job at Merrill Lynch, is the highest ranking casuality of the sub-prime loan fiasco -- even as diversity in corporate America is still an issue.
With the forced retirement of Merrill Lynch CEO E. Stanley O’Neal, the ranks of African-American top gun Fortune 500 company CEOs was sliced from six to five. O’Neal’s fall had nothing to do with race, but rather questionable investments that caused the company’s stock to plunge, and supposedly being a loner type in a corporate culture that thrives on “good old boy” insider networking. But the demise of O’Neal, for whatever reason, still raises fresh questions about how committed many corporations are to making diversity a reality in their boardrooms and in management.
The answer varies widely from corporation to corporation. Fifty companies appear on Fortune Magazine’s list of corporations with the best track record for diversity. Minorities made up almost 21 percent of their boardrooms in 2003, compared with 11 percent two years earlier. The figures almost certainly have edged up even more since then. But for every one of the 50 corporations that makes diversity more than a buzz word, there are dozens more that pat themselves on the back for having one Latino, Asian or African American on their board, or for hiring a handful in lower-level management positions.In recent years, some of America's biggest and best-known corporations that have been widely praised as having a good track record on minority hiring and promotions have been plastered with discrimination lawsuits. Texaco, Coca-Cola, Boeing, Lockheed Martin and Toyota have been thrust into the legal hot seat and have made costly settlements or signed consent decrees with the EEOC.
Forty years after the passage of the 1964 Civil Rights Act that forbade workplace discrimination and Executive Order 11246, signed by Lyndon Johnson in 1965, that prodded firms to promote management diversity, many companies still practice their own subtle brand of workplace apartheid. Despite the well-publicized rise of O’Neal and other black executives at AOL-Time Warner, American Express and Aetna, black CEOs are still a rarity at most of the Fortune 1000 corporations.
The overwhelming majority of senior managers at these companies are white males, and as is evident from the rash of management discrimination lawsuits, women and minority managers are still paid less on average than their white, male counterparts. They are still just as likely to be pigeonholed in departments such as head of “special markets” or “minority affairs.”An embarrassing and highly publicized corporate discrimination case may bring the issue onto the public radar, but then it’s back to business as usual. That business, more often than not, is discrimination. It takes place quietly and far out of public view. The worst offending corporations employ a variety of tactics to mask discrimination. They issue glowing press releases, brochures, assorted handouts and annual stockholder reports loaded with pictures of smiling women and minority employees that tout their commitment to diversity. With much public fanfare, they establish minority and women hiring and training programs.
The refusal of many companies to make diversity the watchword in middle and upper management is bad enough, but even worse is the relentlessly hostile environment that many companies create and maintain toward minorities.Since 1990, the number of complaints of racial harassment toward employees has climbed. Black and Latino employees have been poked with sticks, called racial slurs, have had pictures of burning crosses and white sheets placed near their lockers, have discovered the initials KKK carved on tables and benches, and even found nooses hanging at or near their desks.
Most CEOs are not hypocrites when they say that they work hard to hire and promote more minorities and women. But the degree of real commitment to diversity hinges on the commitment of a corporation’s top CEO and its board. When CEOs implement an outreach program that includes a diversity task force, aggressive recruiters, and a mentoring program aimed at moving talented female and minority employees up the corporate career ladder, diversity will be readily apparent in the company’s hires and promotions.O’Neal’s departure was disappointing, given the still relative paucity of minority and women Fortune 500 CEO leaders. But even if O’Neal had stayed in good grace with Merrill, and had a long shelf life there, the challenge to corporate laggards on diversity wouldn’t change. And that is, don’t just preach it – practice it.
New America Media Associate Editor Earl Ofari Hutchinson is an author and political analyst. His new book is The Latino Challenge to Black America: Towards a Conversation between African-Americans and Hispanics (Middle Passage Press). Corporate America -- Don’t Preach Diversity, Practice It - NAM
2.09.2008
MWPRInsight: Example of Why Athletes Need Personal PR
Johnson, Winslow air grievances at Pro Bowl
USA Today
HONOLULU (AP) — Who says the Pro Bowl is all fun and games? Chad Johnson is unhappy about the silence of his teammates and Kellen Winslow is looking for a new contract.
Both are using the Pro Bowl as a forum for their grievances.
Johnson reiterated his unhappiness with the Cincinnati Bengals. The receiver is at his fifth Pro Bowl, after replacing New England's Randy Moss, and he wasn't looking at the surroundings as paradise. "All the voices talked for 16 weeks," Johnson said of Cincinnati's disappointing regular season. "I don't hear them now. Where you at? Now's the time to let it out. The only voice I hear is mine."
While that's not unusual with the loquacious Johnson, he wasn't smiling or joking around after the AFC practice. He was defending his self-promoting manner, although he admitted some of it didn't fit the Bengals' approach.
FIND MORE STORIES IN: Cleveland New England Pro Bowl TDs Johnson Cincinnati Bengals Randy Moss Browns Drew Rosenhaus Kellen Winslow Corona
"Consistently, I've done it," he said of his performances. "I haven't done it perfect, but consistently at a high level. I get out of line at times, but what great one doesn't? What great one doesn't get emotional? Find me a great one who hasn't done it like that and I'll be quiet." If Johnson is trying to orchestrate his exit from Cincinnati, it will be a difficult chore. He has four years remaining on his contract, worth $18.5 million, including a $3 million base for the 2008 season. Also still under contract is Browns tight end Winslow. In fact, Cleveland extended his deal even as Winslow was recuperating in 2005 from a serious motorcycle accident that cost him an entire season. Winslow breached his original six-year, $40 million rookie deal when he violated a "dangerous activities" clause while practicing motorcycle stunts in a parking lot. Although he lost close to $3 million in bonuses from that contract, he got an extension that allowed Winslow to recoup some of the money. He responded with Pro Bowl numbers, including 82 receptions for 1,106 yards and five TDs in 2007. With agent Drew Rosenhaus at his side Thursday, Winslow said he would be seeking a second opinion on his right knee, which might require surgery for the fourth time. Then he mentioned he hoped to get a new deal from the Browns. "I leave it up to Drew," said Winslow, who replaced Antonio Gates of San Diego for the game. "When I got hurt the contract got renegotiated so some things changed. But I think I've proven these past two years that I'm one of the elite tight ends. My value on the field ... they put an extra DB in the game, and that really changes the whole game. They have to guard me kind of like a wide receiver so, you know, yeah, I've got to get that new money."
After the laughter died down, Winslow added:
"This is my life, what I always wanted to do. My career didn't start out like I wanted it to with the injuries and all, and I started asking questions like, 'Why me, why'd I get hurt?' But without the struggle, there is no progress, and this is progress. I stayed positive, worked my butt off, and now I'm here.
USA Today
HONOLULU (AP) — Who says the Pro Bowl is all fun and games? Chad Johnson is unhappy about the silence of his teammates and Kellen Winslow is looking for a new contract.
Both are using the Pro Bowl as a forum for their grievances.
Johnson reiterated his unhappiness with the Cincinnati Bengals. The receiver is at his fifth Pro Bowl, after replacing New England's Randy Moss, and he wasn't looking at the surroundings as paradise. "All the voices talked for 16 weeks," Johnson said of Cincinnati's disappointing regular season. "I don't hear them now. Where you at? Now's the time to let it out. The only voice I hear is mine."
While that's not unusual with the loquacious Johnson, he wasn't smiling or joking around after the AFC practice. He was defending his self-promoting manner, although he admitted some of it didn't fit the Bengals' approach.
FIND MORE STORIES IN: Cleveland New England Pro Bowl TDs Johnson Cincinnati Bengals Randy Moss Browns Drew Rosenhaus Kellen Winslow Corona
"Consistently, I've done it," he said of his performances. "I haven't done it perfect, but consistently at a high level. I get out of line at times, but what great one doesn't? What great one doesn't get emotional? Find me a great one who hasn't done it like that and I'll be quiet." If Johnson is trying to orchestrate his exit from Cincinnati, it will be a difficult chore. He has four years remaining on his contract, worth $18.5 million, including a $3 million base for the 2008 season. Also still under contract is Browns tight end Winslow. In fact, Cleveland extended his deal even as Winslow was recuperating in 2005 from a serious motorcycle accident that cost him an entire season. Winslow breached his original six-year, $40 million rookie deal when he violated a "dangerous activities" clause while practicing motorcycle stunts in a parking lot. Although he lost close to $3 million in bonuses from that contract, he got an extension that allowed Winslow to recoup some of the money. He responded with Pro Bowl numbers, including 82 receptions for 1,106 yards and five TDs in 2007. With agent Drew Rosenhaus at his side Thursday, Winslow said he would be seeking a second opinion on his right knee, which might require surgery for the fourth time. Then he mentioned he hoped to get a new deal from the Browns. "I leave it up to Drew," said Winslow, who replaced Antonio Gates of San Diego for the game. "When I got hurt the contract got renegotiated so some things changed. But I think I've proven these past two years that I'm one of the elite tight ends. My value on the field ... they put an extra DB in the game, and that really changes the whole game. They have to guard me kind of like a wide receiver so, you know, yeah, I've got to get that new money."
After the laughter died down, Winslow added:
"This is my life, what I always wanted to do. My career didn't start out like I wanted it to with the injuries and all, and I started asking questions like, 'Why me, why'd I get hurt?' But without the struggle, there is no progress, and this is progress. I stayed positive, worked my butt off, and now I'm here.
"Anyone would want to be out here. It's like a Corona commercial."
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Johnson, Winslow air grievances at Pro Bowl - USATODAY.com
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Johnson, Winslow air grievances at Pro Bowl - USATODAY.com
MWPRInsight: Great PR
Succession plans cross from business world to NFL
USA Today
INDIANAPOLIS (AP) — Bill Polian spent three decades building NFL winners the old-fashioned way: Relying on good drafts and retaining key players. Now the Colts president believes coaching stability is becoming a larger part of the equation and, apparently, his colleagues in the copycat NFL agree.
Since season's end, Indianapolis and Seattle have each announced they will invoke rarely used coaching succession plans in hopes of keeping their perennial playoff teams Super Bowl contenders. "We've said all along that Jim (Caldwell) was a potential head coach and he's the right fit with this franchise," Polian said of Tony Dungy's eventual successor. "It just made sense to formalize it and proceed so there would be no questions about continuity and no questions about the leadership of this franchise."
The Colts announced their transition on Jan. 21, saying Caldwell had already signed a contract that prevents him from interviewing with other teams even though Dungy has given no indication when he'll leave.
Seattle assistant head coach Jim Mora joined the club Wednesday, signing a five-year contract to become Mike Holmgren's successor after next season. It could happen in Dallas, too, where many believe offensive coordinator Jason Garrett will one day take over for Wade Phillips after recently withdrawing from coaching searches in Atlanta and Baltimore.
While it's a relatively new concept in the NFL, succession plans have become increasingly popular elsewhere. Profitable companies have had hand-chosen replacements in place for years, and it's becoming more common in college sports, too.
Earlier this week, when Bob Knight resigned at Texas Tech, his son, Pat, took over, following the prearranged script. And Florida State announced in December that offensive coordinator Jimbo Fisher will eventually replace Bobby Bowden as the school's football coach.
Florida State interim athletic director Bill Proctor thinks it all makes sense. "For some reason whenever college presidents and football coaches resign, we act like a goose in a new world, like how did this descend upon us," Proctor said, using an expression more fitting of Bowden. "We say, 'Oh gosh, now we must have a national search.'
"I think it's logical to have these plans in place because a lot of times when a legend retires, you go through three or four coaches before you stabilize the program."Purdue athletic director Morgan Burke, who announced last month he would implement a succession plan for football coach Joe Tiller, has already seen the benefits.In 2004, Burke hired Southern Illinois head coach Matt Painter to replace longtime basketball coach Gene Keady, asking Painter to serve one year as Keady's assistant. Since taking over after the 2004-05 season, Painter has re-energized the Boilermakers' recruiting and this season has led Purdue to its most promising campaign in years. Still, Burke acknowledges there are risks.
"I think if you look at traditional searches, you'll find as many failures as you will successes because bringing in personnel is not 100% foolproof," he said. "If you try to force a succession plan on someone who is not ready to retire, it won't work. It will fail."Charles Elson, director of the Weinberg Center for Corporate Governance at the University of Delaware, believes one proven formula works and it sounds like something straight out of a Bill Belichick meeting — identify talented people early, create a strong bench and follow the game plan. So perhaps it's only fitting the sports world would take note.
"There are similarities between sports people and our people who run businesses," Elson said. "And just like a business, you have people who may retire or die or get injured, and if you're going to succeed, you need someone who will be in play." But there are different considerations when it comes to pro sports. While athletic directors typically use successions to help eliminate uncertainties in recruiting — the lifeblood of college success — and corporations use the policy to help pacify concerned stockholders, pro teams believe continuity is becoming a more essential ingredient.
"What (Holmgren's) done here, by announcing his retirement a year ahead of time, has afforded this organization to make a smooth transition, to be seamless, to be non-chaotic," Seahawks president Tim Ruskell said. "Which is kind of rare in the sports world — certainly in the NFL." Most teams believe when coaching staffs remain stable, progression follows naturally.
In the Colts case, that's one reason Polian turned to Peyton Manning's quarterback coach, Caldwell. Plus, Caldwell's soft-spoken, laid-back demeanor looks like a natural fit with a staff virtually devoid of big egos. "I thought it might be a little weird at first, but I think we've all been together so long and there's such a good atmosphere in the building, I think it's going to work," Colts receivers coach Clyde Christensen said. The Rooney Rule, which requires each team to interview at least one minority candidate for a head coaching vacancy, even has a loophole that could lead to more scripted transitions.
Teams can set up successions from their own coaching staff without having to interview other candidates, league spokesman Greg Aiello said. But if the general perception is a team already has a front-runner and tries to interview others, it could become more difficult to abide by the Rooney Rule as Detroit found out in 2003 when it hired Steve Mariucci.
The league fined Lions president Matt Millen $200,000 back then because no minority candidates were interviewed. Black coaches, like Cincinnati's Marvin Lewis, later said they understood why some colleagues weren't interested — because it appeared inevitable Mariucci would get the job. "That's always an issue," said Floyd Keith, executive director of the Black Coaches and Administrators. "I think it's up to the individual person who gets the interview whether they want to take it." The recent trend has, however, opened doors to some minorities.
Depending on when Dungy leaves, Caldwell could become the first black coach in NFL history to succeed a black coach who never had the interim label, and the University of Kentucky announced Jan. 18 that offensive coordinator Joker Phillips, who also is black, would take over when Rich Brooks retires. "Hey, I'm the first guy to jump up and down about Jim Caldwell, and I'm the first guy to jump up and down about Joker Phillips," Keith said. "If a search is followed, we don't have an issue with it. A transition, like those, probably is a good thing as long as the program is successful and it keeps winning."
But even the best-laid plans can go awry. Just ask the New York Jets about their presumed successor to Bill Parcells, Bill Belichick, who bolted for New England after Parcells' retirement. And, of course, there's always a chance the plan could fall apart when a suddenly trendy assistant becomes a household name and other teams try to sweeten the deal with multimillion-dollar offers and more control over football operations. It's one reason Polian does not believe succession plans will become an NFL norm.
"I think you have to have the right person in place, first and foremost," Polian said. Others, however, believe it's the wave of the future, and recent events certainly seem to indicate it could. "I think it's really an asset for Tony to have a right-hand guy working with him and I think it's great he (Caldwell) will have at least a year to get his notes," Christensen said. "I really think more people should do it because I think when you have something good, you should go for it."
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Succession plans cross from business world to NFL - USATODAY.com
2.07.2008
Helpful Hints: Business Development
Innovation: If You Lose Your Cool, You Won’t Get it Back
February 6, 2008
Building a business around being cool is really hard. Keeping it there is even harder. But the toughest of all is getting your cool edge back if you ever lose it. The good news for innovators is that refocusing on being credible can be just as profitable as being cool, without as much inherent risk.
Apple is a great example of a company that has been coming out with cool products ever since Steve Jobs and Steve Wozniak started making and selling circuit boards and computers in the late 1970s. Apple’s latest computers and iGoodies are widely perceived as must-have products with people routinely lining up to buy them as they are launched. At $1800, the MacBook Air launched last month is the latest on Apple’s hit parade.
So what will happen if Apple loses its edge? Not a problem if it takes the same approach that Kodak did years ago when its traditional business of photographic films and papers turned to ashes. Kodak is a big company with a long history of introducing cool products that date all the way back to about 1900 when it introduced the very popular “brownie” camera. Kodak saw big problems coming when digital camera sales started going through the roof. Although the company was in the digital camera game from early on, it knew it would face very tough competition from Japanese consumer electronics giants. Kodak simply wasn’t going to remain cool as the competition heated up.
Kodak was able to refocus on B2B offerings using the tremendous credibility it had established over the previous century. The company’s investor information page claims “Kodak is the world’s foremost imaging innovator. With sales of $10.7 billion in 2006, the company is committed to a digitally oriented growth strategy focused on helping people better use meaningful images and information in their life and work. Consumers use Kodak’s system of digital and traditional products and services to take, print and share their pictures anytime, anywhere; Businesses effectively communicate with customers worldwide using Kodak solutions for prepress, conventional and digital printing and document imaging; and Creative Professionals rely on Kodak technology to uniquely tell their story through moving or still images.” These are not consumer product offerings that will have people lining up in droves. Apple brags about its iPhone and having sold over 110 million iPods and over three billion songs from its iTunes online store but it has no major current B2B offerings.
A great advantage of a company that has leveraged and built up credibility to shift from leading edge consumer product offerings towards B2B offerings, is that the business becomes more predictable. This also applies to its R&D returns. Watch and see if Apple remains cool and if it shifts toward increasing its B2B offerings over the next few years. That would decrease the likelihood of the company falling flat on its face if it loses its cool.
Atomica Creative > Strategic Product Marketing • Vancouver, Canada • tnakagawa@atomicacreative.com
Innovation: If You Lose Your Cool, You Won’t Get it Back
February 6, 2008
Building a business around being cool is really hard. Keeping it there is even harder. But the toughest of all is getting your cool edge back if you ever lose it. The good news for innovators is that refocusing on being credible can be just as profitable as being cool, without as much inherent risk.
Apple is a great example of a company that has been coming out with cool products ever since Steve Jobs and Steve Wozniak started making and selling circuit boards and computers in the late 1970s. Apple’s latest computers and iGoodies are widely perceived as must-have products with people routinely lining up to buy them as they are launched. At $1800, the MacBook Air launched last month is the latest on Apple’s hit parade.
So what will happen if Apple loses its edge? Not a problem if it takes the same approach that Kodak did years ago when its traditional business of photographic films and papers turned to ashes. Kodak is a big company with a long history of introducing cool products that date all the way back to about 1900 when it introduced the very popular “brownie” camera. Kodak saw big problems coming when digital camera sales started going through the roof. Although the company was in the digital camera game from early on, it knew it would face very tough competition from Japanese consumer electronics giants. Kodak simply wasn’t going to remain cool as the competition heated up.
Kodak was able to refocus on B2B offerings using the tremendous credibility it had established over the previous century. The company’s investor information page claims “Kodak is the world’s foremost imaging innovator. With sales of $10.7 billion in 2006, the company is committed to a digitally oriented growth strategy focused on helping people better use meaningful images and information in their life and work. Consumers use Kodak’s system of digital and traditional products and services to take, print and share their pictures anytime, anywhere; Businesses effectively communicate with customers worldwide using Kodak solutions for prepress, conventional and digital printing and document imaging; and Creative Professionals rely on Kodak technology to uniquely tell their story through moving or still images.” These are not consumer product offerings that will have people lining up in droves. Apple brags about its iPhone and having sold over 110 million iPods and over three billion songs from its iTunes online store but it has no major current B2B offerings.
A great advantage of a company that has leveraged and built up credibility to shift from leading edge consumer product offerings towards B2B offerings, is that the business becomes more predictable. This also applies to its R&D returns. Watch and see if Apple remains cool and if it shifts toward increasing its B2B offerings over the next few years. That would decrease the likelihood of the company falling flat on its face if it loses its cool.
Atomica Creative > Strategic Product Marketing • Vancouver, Canada • tnakagawa@atomicacreative.com
Innovation: If You Lose Your Cool, You Won’t Get it Back
2.06.2008
Helpful Hints: Starting a Business
How to open a Bar or Nightclub
eHow.com
Steps
Step One
Beware of the Beginning New bars and nightclubs only get one shot at success. Every customer who comes through your doors is crucial to the success of your venue and you need them to have a great experience if you hope to have them return. It is vital that your venue is ready for success from day one. Many bar and nightclub concepts fail within the first twelve months because they don’t have an adequate plan in place. There are many key factors that contribute to a Bar or Nightclub failing! 1- Bad Management – The most common problem is lack of experience in opening a new venue. Many managers come from concepts that have been up and running and successful. These managers have been working in an environment where all the operating procedures are already in place and functioning. 2- Bad Owners – One common failing is partners not Seeing Eye to eye about how the bar will be run. Often, money issues arise, with one or more partners unwilling to commit money to areas they feel are not effective. The most crucial areas are promotions and hiring and paying a good operations manager. It’s not unusual for owners to think that because they have spent so much time in bars, it is easy to run a bar. At this point, I often find myself asking them if they should get their tax guy to run the bar and I will do their taxes for them! Owners and investors often need to step back and let experienced operators take over. 3- Under capitalization – Many venues begin without enough capital. During the construction phase, with all the delays and changes involved, the budget gets eaten up, leaving the concept little or no capital to properly execute promotions and operations. Many times, having a bad lease agreement and not allowing enough time for construction will drive a bar into a financial crisis before opening. Owners will find themselves paying rent while still in construction because of bad lease negotiations, construction delays and horrible city planning departments. Delays are inevitable, so add an additional 20% to the bottom line when figuring out your budget. 4- Bad Partnerships – Wow, I have fallen victim to this time and time again! Partnerships are often the best way to end up strangling someone who was your best friend six months ago. The level of stress in opening a new concept is often too much for many people, leaving them bitter and spiteful and more than one partner screwed over
Step Two
Bar Business Plan If you need to raise money, a good business plan is in order. Many bars and nightclubs need large injections of capital in multiple phases from the very beginning. For construction costs or lease obligations, sometimes this amount will be in the millions of dollars. I, for one, am not great at writing a solid business plan but I know many people who love nothing better than to raise capital for a dream in spiral-bound notebook form. I recommend you find one of the many templates available on the Internet.
Step Three
Selling the dream to Investors Many investors in the bar and nightclub business are often motivated not by ungodly returns but by the illusion of being young and cool again. They missed out on the good years, the chicks and the party life. Often, it was because of marriage or work commitments or just not ever being the cool guy. Now, they have some money and want to recreate the years they missed! I like to say to these lost souls “The easiest way to make a small fortune is to start with a large fortune and then open a bar!” If you want to invest in a bar or club, great, but let professionals run the operation and stay out of the way! Have a good time with your friends and family, buying them drinks and partying in the VIP room all night. Just stay out of the way. When you are trying to raise money for your bar or nightclub, selling this dream to investors is often 90 percent timing and 10 percent sales. Despite that, you usually will find the right person at the right time. Many people want to be a part of something exciting such as a bar or nightclub. You need to make sure you present your business plan with legitimate goals and clear ideas of what you are trying to create. Make the potential investors comfortable with the risk vs. reward factor of a bar and nightclub.
Step Four
Market Research & Analysis I can't stress enough how important research is. You need to know if your dream of opening a bar or nightclub will actually work in the real world. You need to know what it is that your market and customers actually want. There are four areas you should research: 1. Marketplace and customer base 2. Competition 3. Current industry trends 4. Seasonal effects on your business. There are many professional market-research firms that can be contracted to do this for you. Successful companies specializing in market research include Market Decisions Corporation (MDC Research) and Moore Information, both companies are based in Portland, Oregon. They are experts in gathering information and opinions from targeted population samples. They can sit down with you, analyze your intentions and goals, isolate your target market and design appropriately worded questionnaires. This will enable you to gather honest and accurate information about what people will want and expect from your concept. Where Do You Plan to Open Your Bar? Who is Your Customers? This is the first question you need to ask. You are not going to want to open the wrong concept in the wrong location for the wrong demographic. It is important to get out and hit the local hot spots. Go out and do market research or hire a firm to send interviewers (or “interceptors”) to all the bars and nightclubs frequented by your target demographic for a month or two. Ask people what they like and don’t like about the existing venues, and what they think is missing in the realm of bars and nightclubs in your marketplace.
Step Five
A QUICK CUSTOMER PROFILE You may find that the promotions you thought were targeted to specific customer groups bring in patrons you didn’t expect. Demographic overlaps are more common now than at any other time in history. Now, the rich and famous are rubbing shoulders with the masses in hot spots all over the country. But it is still important to establish which customers you are trying to attract to your concept. • College students • Twenty something • Blue-collar workers • The in-crowd/A-listers/celebrities • Working professionals
Step Six
THE COMPETITION “It is my belief that competition develops synergy! “If I am wrong, then why do so many billion-dollar casinos open next to one another?” Two Types of Competitors: Direct and Indirect You need to take a good look at other local venues long before you lock in your location and concept. This is the time to study everything other venues and concepts are doing over your entire marketplace. What is working for other venues and concepts and what isn’t? Do you feel the location you have chosen is the type of area you can jump into and provide a product on par with the other local establishments? Who are you competing against? Do you want to compete against another established concept? Is a similar concept 10 miles away going to affect yours? Direct Competition vs. Synergistic Competition Synergy is a very real effect that occurs in the bar and nightclub industry. As an intelligent operator, you are not going to open the same type of bar or nightclub next door to an existing one with the same concept. But with so many ideas to choose from, you will be able to find a twist on other local establishments. I do not believe in competing with your neighbors since you all have the same goals. If you and your neighbors understand the business, they know that people today have extremely short attention spans and are always on the move. The typical customer will hang out for anywhere from 30 minutes to 2 ½ hours, depending on many factors, including seating, entertainment and the concept’s popularity.
How to Open a Bar or Nightclub, Chris’ extensive experience in concept development, design, market placement and construction management have given him the insight to be able to design layouts that maximize flow patterns and provide energy points needed for efficient and successful operations.
eHow.com
Steps
Step One
Beware of the Beginning New bars and nightclubs only get one shot at success. Every customer who comes through your doors is crucial to the success of your venue and you need them to have a great experience if you hope to have them return. It is vital that your venue is ready for success from day one. Many bar and nightclub concepts fail within the first twelve months because they don’t have an adequate plan in place. There are many key factors that contribute to a Bar or Nightclub failing! 1- Bad Management – The most common problem is lack of experience in opening a new venue. Many managers come from concepts that have been up and running and successful. These managers have been working in an environment where all the operating procedures are already in place and functioning. 2- Bad Owners – One common failing is partners not Seeing Eye to eye about how the bar will be run. Often, money issues arise, with one or more partners unwilling to commit money to areas they feel are not effective. The most crucial areas are promotions and hiring and paying a good operations manager. It’s not unusual for owners to think that because they have spent so much time in bars, it is easy to run a bar. At this point, I often find myself asking them if they should get their tax guy to run the bar and I will do their taxes for them! Owners and investors often need to step back and let experienced operators take over. 3- Under capitalization – Many venues begin without enough capital. During the construction phase, with all the delays and changes involved, the budget gets eaten up, leaving the concept little or no capital to properly execute promotions and operations. Many times, having a bad lease agreement and not allowing enough time for construction will drive a bar into a financial crisis before opening. Owners will find themselves paying rent while still in construction because of bad lease negotiations, construction delays and horrible city planning departments. Delays are inevitable, so add an additional 20% to the bottom line when figuring out your budget. 4- Bad Partnerships – Wow, I have fallen victim to this time and time again! Partnerships are often the best way to end up strangling someone who was your best friend six months ago. The level of stress in opening a new concept is often too much for many people, leaving them bitter and spiteful and more than one partner screwed over
Step Two
Bar Business Plan If you need to raise money, a good business plan is in order. Many bars and nightclubs need large injections of capital in multiple phases from the very beginning. For construction costs or lease obligations, sometimes this amount will be in the millions of dollars. I, for one, am not great at writing a solid business plan but I know many people who love nothing better than to raise capital for a dream in spiral-bound notebook form. I recommend you find one of the many templates available on the Internet.
Step Three
Selling the dream to Investors Many investors in the bar and nightclub business are often motivated not by ungodly returns but by the illusion of being young and cool again. They missed out on the good years, the chicks and the party life. Often, it was because of marriage or work commitments or just not ever being the cool guy. Now, they have some money and want to recreate the years they missed! I like to say to these lost souls “The easiest way to make a small fortune is to start with a large fortune and then open a bar!” If you want to invest in a bar or club, great, but let professionals run the operation and stay out of the way! Have a good time with your friends and family, buying them drinks and partying in the VIP room all night. Just stay out of the way. When you are trying to raise money for your bar or nightclub, selling this dream to investors is often 90 percent timing and 10 percent sales. Despite that, you usually will find the right person at the right time. Many people want to be a part of something exciting such as a bar or nightclub. You need to make sure you present your business plan with legitimate goals and clear ideas of what you are trying to create. Make the potential investors comfortable with the risk vs. reward factor of a bar and nightclub.
Step Four
Market Research & Analysis I can't stress enough how important research is. You need to know if your dream of opening a bar or nightclub will actually work in the real world. You need to know what it is that your market and customers actually want. There are four areas you should research: 1. Marketplace and customer base 2. Competition 3. Current industry trends 4. Seasonal effects on your business. There are many professional market-research firms that can be contracted to do this for you. Successful companies specializing in market research include Market Decisions Corporation (MDC Research) and Moore Information, both companies are based in Portland, Oregon. They are experts in gathering information and opinions from targeted population samples. They can sit down with you, analyze your intentions and goals, isolate your target market and design appropriately worded questionnaires. This will enable you to gather honest and accurate information about what people will want and expect from your concept. Where Do You Plan to Open Your Bar? Who is Your Customers? This is the first question you need to ask. You are not going to want to open the wrong concept in the wrong location for the wrong demographic. It is important to get out and hit the local hot spots. Go out and do market research or hire a firm to send interviewers (or “interceptors”) to all the bars and nightclubs frequented by your target demographic for a month or two. Ask people what they like and don’t like about the existing venues, and what they think is missing in the realm of bars and nightclubs in your marketplace.
Step Five
A QUICK CUSTOMER PROFILE You may find that the promotions you thought were targeted to specific customer groups bring in patrons you didn’t expect. Demographic overlaps are more common now than at any other time in history. Now, the rich and famous are rubbing shoulders with the masses in hot spots all over the country. But it is still important to establish which customers you are trying to attract to your concept. • College students • Twenty something • Blue-collar workers • The in-crowd/A-listers/celebrities • Working professionals
Step Six
THE COMPETITION “It is my belief that competition develops synergy! “If I am wrong, then why do so many billion-dollar casinos open next to one another?” Two Types of Competitors: Direct and Indirect You need to take a good look at other local venues long before you lock in your location and concept. This is the time to study everything other venues and concepts are doing over your entire marketplace. What is working for other venues and concepts and what isn’t? Do you feel the location you have chosen is the type of area you can jump into and provide a product on par with the other local establishments? Who are you competing against? Do you want to compete against another established concept? Is a similar concept 10 miles away going to affect yours? Direct Competition vs. Synergistic Competition Synergy is a very real effect that occurs in the bar and nightclub industry. As an intelligent operator, you are not going to open the same type of bar or nightclub next door to an existing one with the same concept. But with so many ideas to choose from, you will be able to find a twist on other local establishments. I do not believe in competing with your neighbors since you all have the same goals. If you and your neighbors understand the business, they know that people today have extremely short attention spans and are always on the move. The typical customer will hang out for anywhere from 30 minutes to 2 ½ hours, depending on many factors, including seating, entertainment and the concept’s popularity.
How to Open a Bar or Nightclub, Chris’ extensive experience in concept development, design, market placement and construction management have given him the insight to be able to design layouts that maximize flow patterns and provide energy points needed for efficient and successful operations.
MWPRInsight: Potential Crisis Situation (PR is needed)
Bottom Line for (Red)
New York Times
According to the center’s managing director, Dr. Anita Asiimwe, doctors spend less time on crises and more time researching how to slow H.I.V. transmission in this tiny African nation, still recovering from a genocide in 1994.
Dr. Asiimwe thanks an unlikely benefactor for all these improvements: the American shopper.
Just over a year ago, the rock star Bono started Red, a campaign that combined consumerism and altruism. Since then, consumers have generated more than $22 million to fight H.I.V. and AIDS in Rwanda by buying iPods, T-shirts, watches, cologne and most recently — as anyone who watched the Super Bowl knows — laptops, with all of them branded “(Product)RED.”
According to Rwandan officials, Red contributions have built 33 testing and treatment centers, supplied medicine for more than 6,000 women to keep them from transmitting H.I.V. to their babies, and financed counseling and testing for thousands more patients.
Yet detractors say Red has fallen short. They criticize a lack of transparency at the company and its partners over how much they make from Red products, and whether they spend more money on Africa or advertising.
“Look at all the promotions they’ve put out,” said Inger L. Stole, a communications professor at the University of Illinois. “The ads seem to be more about promoting the companies and how good they are than the issue of AIDS.”
In the Super Bowl ad Sunday, which promoted Dell’s recent Red debut, a man buys a Red laptop and finds himself cheered in the street by strangers and kissed by a beautiful woman. At the end of the commercial, three screens flash in rapid succession: “Buy Dell. Join (RED). Save Lives.”
Read entire article http://www.nytimes.com/2008/02/06/business/06red.html?pagewanted=1&_r=1&ei=5088&en=827c3f68422f1658&ex=1360040400&partner=rssnyt&emc=rss
New York Times
By RON NIXON
Published: February 6, 2008
KIGALI, Rwanda — A year ago, staff members at the Treatment and Research AIDS Center could barely cope. Patients, unable to find care elsewhere, flowed in from every corner of the country. And if one of them was fortunate enough to find a bed here, she often had to share it.
Today, a dozen patients, mostly women, sit in neat waiting rooms, laughing and talking as children play around them. Doctors greet one another as they make their rounds, and take all the time they need to explain the complicated schedule H.I.V. drugs require.According to the center’s managing director, Dr. Anita Asiimwe, doctors spend less time on crises and more time researching how to slow H.I.V. transmission in this tiny African nation, still recovering from a genocide in 1994.
Dr. Asiimwe thanks an unlikely benefactor for all these improvements: the American shopper.
Just over a year ago, the rock star Bono started Red, a campaign that combined consumerism and altruism. Since then, consumers have generated more than $22 million to fight H.I.V. and AIDS in Rwanda by buying iPods, T-shirts, watches, cologne and most recently — as anyone who watched the Super Bowl knows — laptops, with all of them branded “(Product)RED.”
According to Rwandan officials, Red contributions have built 33 testing and treatment centers, supplied medicine for more than 6,000 women to keep them from transmitting H.I.V. to their babies, and financed counseling and testing for thousands more patients.
Yet detractors say Red has fallen short. They criticize a lack of transparency at the company and its partners over how much they make from Red products, and whether they spend more money on Africa or advertising.
“Look at all the promotions they’ve put out,” said Inger L. Stole, a communications professor at the University of Illinois. “The ads seem to be more about promoting the companies and how good they are than the issue of AIDS.”
In the Super Bowl ad Sunday, which promoted Dell’s recent Red debut, a man buys a Red laptop and finds himself cheered in the street by strangers and kissed by a beautiful woman. At the end of the commercial, three screens flash in rapid succession: “Buy Dell. Join (RED). Save Lives.”
Read entire article http://www.nytimes.com/2008/02/06/business/06red.html?pagewanted=1&_r=1&ei=5088&en=827c3f68422f1658&ex=1360040400&partner=rssnyt&emc=rss
2.05.2008
Helpful Tools: Trump University
Trump University Asset Protection 101 Puts the Wealth-Building Secrets of the Super Rich into Your Hands
by Michael Sexton
“Making money is not enough,” says J. J. Childers, author of the new book Trump University Asset Protection 101. “What most people fail to realize is that the protection of wealth goes hand-in-hand with the creation of wealth. Asset protection is an essential step for anyone seeking to create and build lasting wealth.”
by Michael Sexton
“Making money is not enough,” says J. J. Childers, author of the new book Trump University Asset Protection 101. “What most people fail to realize is that the protection of wealth goes hand-in-hand with the creation of wealth. Asset protection is an essential step for anyone seeking to create and build lasting wealth.”
Childers is an attorney whose proven wealth-structuring strategies have helped thousands of ordinary people minimize income and estate taxes - and enjoy ironclad protection from frivolous lawsuits. The end result? Extraordinary wealth, secure wealth.
Trump University Asset Protection 101 is a unique and powerful book. It belongs in your success library. In a moment, I will explain an offer that bundles this powerhouse of a book with other essential asset-protection tools, all at a most attractive price.
But first, let me give you’re a roadmap to some of the defensive strategies you’ll find in the book. With J. J. Childers at your side, you’ll . . .
But first, let me give you’re a roadmap to some of the defensive strategies you’ll find in the book. With J. J. Childers at your side, you’ll . . .
Crack the tax code and take advantage of deduction strategies and tax shelters known to the wealthy - the greatest tax shelters in the world.
Discover ways to protect assets from frivolous lawsuits.
Master strategies that will keep your estate intact for your heirs. Once known to only the super-wealthy, these high-end strategies include tactics for building your assets through tax-free compounding growth.
And now my offer to you . . .
If you purchase Trump University Asset Protection 101 now, Trump University will add over $300 in tools including:
A library of J.J. Childers’ most powerful eBooks on wealth creation, including Five Special Reports; The Top 50 Most Overlooked Tax Dedications; and Asset Protection Worksheet.
An exclusive 20% discount on your registration for Trump University’s Wealth Preservation: Asset Protection Retreat, taught by J.J. Childers himself.
An exclusive 20% discount on your registration for Trump University’s Wealth Preservation: Asset Protection Retreat, taught by J.J. Childers himself.
An invitation to a Trump University asset-protection teleseminar. (Date to be announced in the week after Trump University Asset Protection 101 reaches # 1 in sales at major booksellers.)
Please click here now to learn more and take advantage of my special offer today. As J. J. Childers says, making money is not enough. You need to protect it too.
Please click here now to learn more and take advantage of my special offer today. As J. J. Childers says, making money is not enough. You need to protect it too.
Michael Sexton is President of Trump University.
2.02.2008
Achieving Life & Business Success
Need some motivation to change your thinking and behavior? Consider this -- while less than 15% of the United States workforce is comprised of business owners/self-employed professionals, these entrepreneurs represent over 66% of our millionaires. No doubt about it, business ownership is a direct path to greater wealth and personal satisfaction.
However, wealthy entrepreneurs are no different than ordinary employees. In fact, they are ordinary in every way except one. It's not their intelligence, looks, education, age or luck. It's their mindset. That's right. Wealthy entrepreneurs simply think differently and then act accordingly.
Wealthy entrepreneurs, in particular, think and act like creators. They think about and go about creating the lifestyle, wealth, business, career, health, and relationships they want. They have a burning desire to create their results and circumstances. Then they act in spite of any fears,
doubts or uncertainties. Their desire to gain pleasure (dreams and goals) outweighs their desire to avoid pain (fears and risks).
Unlike ordinary folks, wealthy professionals don't settle for letting things happen and unfold. Instead of merely making a living, they choose to create a personal and professional life that excites them. They take charge. They proactively shape their life according to their dreams. Want to achieve greater success and freedom? Simply let go of your fears and start thinking big!
Instead of focusing on security, wealthy entrepreneurs focus on opportunities. Instead of focusing on risks, they focus on rewards. They see the upside, not the downside. They think about their goals and go about making them happen. They take action. They don't procrastinate and over-analyze. They take 100% responsibility for their results - no excuses and no blaming.
Their mode of operation is "Ready, Aim, Fire . . . Adjust Aim, Fire, Fire, Fire". The emphasis is on the firing, not the preparing. After all, nothing good happens until you take action, start moving. Action always trumps inaction. By taking action, these wealthy entrepreneurs learn from the marketplace and make real-time corrections based on current facts, not speculation.
On the other hand, others focus on obstacles and analysis. They focus on "what can go wrong". They are ruled by fear, comfort zones, and excuses. Their mode of operation is "Ready, Ready, Aim, Aim, and more Aim". They never fire! They never take action. They want to know all the answers before they start. They want to eliminate all risks and unknowns. They want guarantees. This is unrealistic and will only guarantee a lack of success.
Deadly analysis-paralysis takes over. Where are you stalling in life? What are you putting off because of fear or imperfect information? What project is on hold? What dreams are being
delayed?
Start thinking and acting like wealthy entrepreneurs - think about and then go about creating your ideal world.
Wealth Creation Strategies is a publication designed to provide information and insight to individuals interested in creating personal wealth through business ownership.
Need some motivation to change your thinking and behavior? Consider this -- while less than 15% of the United States workforce is comprised of business owners/self-employed professionals, these entrepreneurs represent over 66% of our millionaires. No doubt about it, business ownership is a direct path to greater wealth and personal satisfaction.
However, wealthy entrepreneurs are no different than ordinary employees. In fact, they are ordinary in every way except one. It's not their intelligence, looks, education, age or luck. It's their mindset. That's right. Wealthy entrepreneurs simply think differently and then act accordingly.
Wealthy entrepreneurs, in particular, think and act like creators. They think about and go about creating the lifestyle, wealth, business, career, health, and relationships they want. They have a burning desire to create their results and circumstances. Then they act in spite of any fears,
doubts or uncertainties. Their desire to gain pleasure (dreams and goals) outweighs their desire to avoid pain (fears and risks).
Unlike ordinary folks, wealthy professionals don't settle for letting things happen and unfold. Instead of merely making a living, they choose to create a personal and professional life that excites them. They take charge. They proactively shape their life according to their dreams. Want to achieve greater success and freedom? Simply let go of your fears and start thinking big!
Instead of focusing on security, wealthy entrepreneurs focus on opportunities. Instead of focusing on risks, they focus on rewards. They see the upside, not the downside. They think about their goals and go about making them happen. They take action. They don't procrastinate and over-analyze. They take 100% responsibility for their results - no excuses and no blaming.
Their mode of operation is "Ready, Aim, Fire . . . Adjust Aim, Fire, Fire, Fire". The emphasis is on the firing, not the preparing. After all, nothing good happens until you take action, start moving. Action always trumps inaction. By taking action, these wealthy entrepreneurs learn from the marketplace and make real-time corrections based on current facts, not speculation.
On the other hand, others focus on obstacles and analysis. They focus on "what can go wrong". They are ruled by fear, comfort zones, and excuses. Their mode of operation is "Ready, Ready, Aim, Aim, and more Aim". They never fire! They never take action. They want to know all the answers before they start. They want to eliminate all risks and unknowns. They want guarantees. This is unrealistic and will only guarantee a lack of success.
Deadly analysis-paralysis takes over. Where are you stalling in life? What are you putting off because of fear or imperfect information? What project is on hold? What dreams are being
delayed?
Start thinking and acting like wealthy entrepreneurs - think about and then go about creating your ideal world.
Wealth Creation Strategies is a publication designed to provide information and insight to individuals interested in creating personal wealth through business ownership.
Helpful Hints: Client Acquisition Costs
How to Determine Small Business Client Acquisition Costs and More Importantly Why Should You Know
By Leanne Hoagland-Smith
Leanne Hoagland-SmithLevel: PlatinumConsider this if you would: If everyone wants success, then why isn't there more success? What is keeping you from having more sales, ...
What does it cost you to acquire and maintain a client?
During my 25 years in business, I am continually surprised that small business owners, entrepreneurs, sales personnel and even executives in larger organizations cannot quickly identify what it is costing the organization to secure new clients and to maintain existing ones. Ongoing efforts through a variety of vehicles including marketing, referrals and cold calling are never truly measured to accurately determine client acquisition cost (CAC). Without knowing CAC, you are ignoring return on your investment (ROI) for not only your fixed marketing costs, but more importantly your customer relationship management focus may be on the wrong customers.
So how do you determine client acquisition cost?
Simply speaking for every client, you delineate all costs associated to initially acquiring that client outside of fixed asset costs such as utilities, rent, equipment, support salaries, etc. This becomes the initial customer acquisition cost and serves as a base.
Then you total up all the sales for the most recent year or quarter, if you prefer, along with the gross profit (total sales less costs of direct products and services). Also in a separate column, total up any new client acquisition costs. New client acquisition costs include sales personnel salaries and all those expenses associated with customer relationship management or CRM. Then add initial client acquisition costs to any new client acquisitions costs and subtract the gross profit from this total. The resulting sum whether positive or negative is your current return on investment in dollars. If you click here you can scroll down and download a free tool located in the Business Marketing section to help you with this task.
Now you have established your baseline for return on investment. Next keep track of all referrals from each client including the gross profit sales as well as gross sales. What you will see that in many cases a client may have a substantial negative return on investment especially if you are trying to get your foot in the door or make a name for your company. However as sales and referrals grow that negative return on investment should turnaround and become a positive one.
The real purpose of this article and activity is for you as the small business owner to begin to measure and then manage your ever growing customer base. Without knowing your CAC, you could be investing thousands of dollars in clients who have low return on investment and potentially ignoring those clients whose value was unknown. And in some cases, you may need to fire a client because the additional CAC is draining your bottom line. Again taking from a very old adage, if you can’t measure it, you can’t manage it.
Leanne helps individuals, small businesses and large organizations to double performance in real time. Click here to learn the Secret of Success and sign up for a free monthly newsletter. Please feel free to contact Leanne at 219.759.5601. If you truly don't believe doubling your results is possible, read some case studies where individuals and businesses took the risk and experienced unheard of results.
One quick question, if you could secure one new client or breakthrough that one roadbloack, what would that mean to you? Then, take a risk and give a call at 219.759.5601 to experience incredible results.
Article Source: http://ezinearticles.com/?How-to-Determine-Small-Business-Client-Acquisition-Costs-and-More-Importantly-Why-Should-You-Know&id=122382
By Leanne Hoagland-Smith
Leanne Hoagland-SmithLevel: PlatinumConsider this if you would: If everyone wants success, then why isn't there more success? What is keeping you from having more sales, ...
What does it cost you to acquire and maintain a client?
During my 25 years in business, I am continually surprised that small business owners, entrepreneurs, sales personnel and even executives in larger organizations cannot quickly identify what it is costing the organization to secure new clients and to maintain existing ones. Ongoing efforts through a variety of vehicles including marketing, referrals and cold calling are never truly measured to accurately determine client acquisition cost (CAC). Without knowing CAC, you are ignoring return on your investment (ROI) for not only your fixed marketing costs, but more importantly your customer relationship management focus may be on the wrong customers.
So how do you determine client acquisition cost?
Simply speaking for every client, you delineate all costs associated to initially acquiring that client outside of fixed asset costs such as utilities, rent, equipment, support salaries, etc. This becomes the initial customer acquisition cost and serves as a base.
Then you total up all the sales for the most recent year or quarter, if you prefer, along with the gross profit (total sales less costs of direct products and services). Also in a separate column, total up any new client acquisition costs. New client acquisition costs include sales personnel salaries and all those expenses associated with customer relationship management or CRM. Then add initial client acquisition costs to any new client acquisitions costs and subtract the gross profit from this total. The resulting sum whether positive or negative is your current return on investment in dollars. If you click here you can scroll down and download a free tool located in the Business Marketing section to help you with this task.
Now you have established your baseline for return on investment. Next keep track of all referrals from each client including the gross profit sales as well as gross sales. What you will see that in many cases a client may have a substantial negative return on investment especially if you are trying to get your foot in the door or make a name for your company. However as sales and referrals grow that negative return on investment should turnaround and become a positive one.
The real purpose of this article and activity is for you as the small business owner to begin to measure and then manage your ever growing customer base. Without knowing your CAC, you could be investing thousands of dollars in clients who have low return on investment and potentially ignoring those clients whose value was unknown. And in some cases, you may need to fire a client because the additional CAC is draining your bottom line. Again taking from a very old adage, if you can’t measure it, you can’t manage it.
Leanne helps individuals, small businesses and large organizations to double performance in real time. Click here to learn the Secret of Success and sign up for a free monthly newsletter. Please feel free to contact Leanne at 219.759.5601. If you truly don't believe doubling your results is possible, read some case studies where individuals and businesses took the risk and experienced unheard of results.
One quick question, if you could secure one new client or breakthrough that one roadbloack, what would that mean to you? Then, take a risk and give a call at 219.759.5601 to experience incredible results.
Article Source: http://ezinearticles.com/?How-to-Determine-Small-Business-Client-Acquisition-Costs-and-More-Importantly-Why-Should-You-Know&id=122382
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