FemiStevens

December 9, 2009

Four Quadrants of Innovation

Filed under: Innovation — FemiStevens Inc. @ 10:05 pm

 

Incremental versus Disruptive

by Hutch Carpenter

I recently wrote up a post, “Innovation Perspectives – No Shooting Stars.” In it, I discussed the issue of organizations myopically focusing on only disruptive innovations to the exclusion of more incremental or sustaining innovations.

In doing more research on the subject, I began thinking about the dynamics that apply when a firm pursues different kinds of innovation. A post by Venkatesh Rao, Disruptive versus Radical Innovations, was very useful for distinguishing between disruptive and radical innovations.

Building on that, I wanted a framework for delineating innovations based on their technology and business impacts. Because they’re not necessarily the same. The four quadrants below describe the dynamics for innovations according to their technology and market impacts:

Incremental versus Disruptive Innovations
In each quadrant, there are different rationales and issues that apply. Let’s take a look.

Existing Tech, Manage Existing Market

The lower left quadrant represent innovations that leverage existing technology, and service existing customers. This is every day innovation. The block-n-tackle innovation that keeps companies nimble and operating at rates above industry averages.

Example? See how Wal-Mart improved the fuel efficiency of its vehicle fleet:

“Wal-Mart has taken a number of steps, including the installation of diesel Auxiliary Power Units on all its trucks, and applying aerodynamic skirting. On the tire side, Wal-Mart is working with super single tires. and is testing nitrogen-filled tires and an automatic filling process to maintain constant tire air pressure.”

Improving the customer experience is also a critical opportunity. In an era of social-media empowered customers impacting your brand, the consequences of failing to improve the customer experience are higher than ever.

But this quadrant is the one often pooh-poohed by many in innovation. I like the way PriceWaterhouseCoopers puts it in this blog post:

“An unintended consequence of the Innovators Dilemma has been that companies have begun believing that unless they were pursuing a strategy of seeking disruptive innovations, they were somehow losing out.”

Wal-Mart’s efforts have paid off. The retailer has held relatively strong during the Great Recession, as seen in its stock price. And Toyota famously gathered over million ideas a year from its employees to emerge as a global leader in the automotive industry.

Existing Tech, Create New Market

In this quadrant, existing technology is leveraged to create a new revenue streams. This is the quadrant where the following phrase applies:

“Good artists borrow. Great artists steal.”

The simple application of a technology that serves one purpose toward a different purpose can be disruptive from a market perspective. It’s not a large technological leap. It’s the intelligent application of what’s already at hand.

Twitter is a great example. The technology itself is…simple. Web form. Subscription model. Limit to 140 characters. Yet it’s revolutionized the way people share and find information, causing Techcrunch’s MG Siegler to compare it to a modern day Walter Cronkite. All for a simple little web app. Here’s what WordPress founder Matt Mullenweg says about Twitter:

“Whether the Twitter team intended it or not, they’ve built a killer and highly addictive reader platform with dozens of interesting UIs on top of it.”

The thing with these innovations is that they are very much a market-determined disruption. This isn’t some sort of EUREKA! the moment the technology is rolled out of the labs. It takes the market to say that it’s disruptive.

Clayton Christensen (Innovator’s Dilemma) types of innovation will often fall in this quadrant. Existing technologies applied in new ways to address the lower end of the market.

Venkatesh Rao has a great perspective on this quadrant:

“In fact, in most documented cases of disruption, the disruptive innovation was a minor/incremental change and well within the technical capabilities of the incumbent (and was often taken to market by a renegade spin off from the original company).”

This quadrant is the best one for producing organic growth for companies. It has lower risk, but produces meaningful revenue growth.

Radical Tech, Create New Market

If any one quadrant defines the popular view of innovation, it’s this one. And that’s not without good reason. In the previous quadrant, existing technologies are applied to new markets. Well, existing technologies have to come from somewhere. That’s this quadrant.

This is the cool stuff that the press writes about. Check out AT&T’s Technology Showcase for a great example of some of these new technologies.

Amazon’s Jeff Bezos has done well in this quadrant. His latest innovation, the Kindle, is an example. It includes a new “electronic ink“. Ability to read text aloud. It’s incredibly thin profile.

And it’s paying off. Amazon reports that the Kindle set a new sales record this November. Which points to the Kindle as a strong new revenue stream down the road, and a new source of sales for Amazon’s book sales. A home run in this quadrant.

These types of innovations are important for maintaining the long-term growth rates of companies. They provide needed growth, replenishing changes in existing markets.

Which leads us to the final quadrant…

Radical Tech, Manage Existing Market

There are times a company’s business is under attack, and it needs to address changing behaviors in its market. Innovations in this quadrant share the high risk profile of the previous quadrant, but they have a defensive nature to them. They don’t seek to find new opportunities, they seek to address changes in customer behavior.

Hulu strikes me as an example of this. A joint venture of NBC, Fox and ABC, Hulu lets users view shows on computers. This initiative addresses the emerging market shift away from televisions to viewing on all sorts of devices. It’s a better answer for this shift than the music industry initially had for the proliferation of MP3 songs on various P2P sites.

Gary Hamel has noted the increasing volatility of markets across the globe. Customers have better access to information about new options, and are willing to shift their spending more quickly. With this dynamic, expect some increase in activity for innovations in this quadrant.

Companies Need a Portfolio of Innovation Opportunities

In a recent Accenture survey, 58% of executives said their organization is looking for the next silver bullet rather than pursuing a portfolio of opportunities. When I hear that, I think first of the upper right quadrant (radical tech, create new market). These types of innovations are incredibly important, and should be part of a company’s innovation efforts.

But there’s really a good basis for expanding that view to look at the other types of innovation: technology vs. market, disruptive vs incremental.

December 6, 2009

How to Discover Your Life’s Purpose – 7 Purposeful Questions

Filed under: Uncategorized — FemiStevens Inc. @ 2:34 pm

Your eyes see, your ears hear, your nose smells. Doctors solve medical problems, lawyers solve legal problems. Your shirt keeps you warm; your watch tells you the time. Everything created solves a problem.

I believe you were created to solve a problem and your success is dependent on your ability to discover that problem and solve it. Finding this problem is discovering your purpose, solving this problem is accomplishing your purpose.

Today I want to discuss 7 questions that will help you discover your purpose.

7 Questions to Help You Discover Your Purpose:
1. What do you love to do?
Your purpose is directly related to what you love. The most purposeful people in the world spend their time doing what they love. Bill Gates loves computers, Oprah loves helping, and Edison loved to invent. What do you love? Is it reading, writing, playing sports, singing, painting, business, selling, talking, listening, cooking, fixing broken things. Whatever you love, it’s directly related to your purpose.

2. What do you do in your free time?
Whatever you do in your free time is a sign of your purpose. If you like to paint in your free time, then that’s a “sign.” If you like to cook, then that’s a sign, if you like to talk, then that’s a sign. Follow the signs.

I love to learn in my free time, I have an obsession with learning. Of course, this is a sign of my purpose …which is to teach.

What do you do in your free time? What would you like to do if you had more free time? Would you teach dance a class or a business course?

3. What do you notice?
A salesman notices an uninspiring sales pitch, a hairdresser notices someone’s hair is out of place, a designer notices a awkward outfit, a mechanic hears something wrong with your car, a singer notices when someone’s voice is out of pitch, a speaker notices an uninspiring speech.

What do you notice? What annoys you?

I notice when information is not presented in a clear, practical, and simplistic form. This is a sign of my purpose. I’m obsessed with practicality and simplicity. When I teach, I try to teach in a very practical and simple way.

4. What do you love to learn about?
What kinds of books or magazines do you like to read? Do you read about cooking, business, or fishing, whatever it is, it’s a sign. I’m always reading about self development, particularly as it relates to successful living. Of course this is also related to my purpose, which is to teach people how to succeed.

What do you love to learn about? If you have a library, what books do you have in that library?

5. What sparks your creativity?
Is it painting, designing, building, speaking, or selling?

Writing sparks my creativity. I often feel like a sculptor or painter when I write. I carefully sculpt ideas on paper, ideas that impacts people’s lives; it’s a very creative process. Each word must be crafted for maximum impact.

What sparks your creativity, do you have ideas for new food recipes, or a new creative automotive Web site?

6. What do people compliment you on?
What “fans” do you have? If no one likes your cooking, then you probably won’t make a good chef.

Do people compliment your writing, or your singing, or your amazing ability to sell? Once again, this is a sign of your purpose.

People always compliment me on my speaking ability, something I was too frightened to do for most of my life. I find it intriguing that my purpose was hidden in something that I was frightened to do.

7. What would you do if you knew you couldn’t fail?
Would you start a salon, go on American Idol, start your own business? What would you do if success was guaranteed? It’s a sign to your purpose.

I’d do what I’m doing right now, which is teaching. Nothing is more important to me, what about you?

By: Mr Self Development

November 8, 2009

Four Styles of Leadership

Filed under: Leadership — FemiStevens Inc. @ 9:22 pm

Leading with vision, empathy, humility and ethicsAt the recent Forbes Global CEO Conference in Kuala Lumpur, Malaysia, my colleague Tim Ferguson, editor of Forbes Asia, led a panel on leadership. What struck me–and not for the first time–is the variety of leadership styles that work. And work really well. There is no single leadership secret; there are many. They are hiding in plain sight, and we can learn from them.

Visionary

One of the panelists was Helmut Panke, former chairman of German automaker BMW. As auto executives go, Panke was a late bloomer, not even entering the auto business until his mid-30s. He was a nuclear scientist and university lecturer. He came to BMW as head of planning and control in 1982. As head of strategy during the 1990s Panke retooled BMW’s brand from yuppie toy to performance luxury car the equal of rival Mercedes-Benz. Panke rose to become chairman of BMW’s management board in 2002 and there fulfilled his goal of BMW’s becoming the biggest seller of luxury automobiles, overtaking Mercedes.

Panke says leadership is chiefly about vision. During his BMW tenure vision and brand became one and the same. While serving as BMW chairman, Panke was fond of saying such things as: “Every model we make has to earn the right to wear the BMW badge.” Another Pankeism: “I want to be able to blindfold a person, set him down in a BMW and have him know it’s a BMW by the feel of it.” (If you could hear Panke’s German accent, the statements would sound even more forceful.)

Apple ( AAPLnews - people )’s Steve Jobs and Whole Foods ( WFMInews - people )’ John Mackey are examples of visionary business leaders today. For them, vision, product integrity and brand will always be one and the same.

Empathetic

Another leadership style is that driven by empathy. Admiral Bill Owens is an example of this. Owens, an Annapolis graduate, was a nuclear submariner from the 1960s through the 1980s. He served in Vietnam and later as commanding officer of the U.S.S. Sam Houston and the U.S.S. City of Corpus Christi. During Operation Desert Storm in 1990-91 Owens served as commander of the U.S. Sixth Fleet. In 1994 he was appointed vice chairman of the Joint Chiefs of Staff, serving under Chairman John Shalikashvili.

Owens retired from the military in 1996 and now lends his leadership lessons to several corporate boards, including Indian software services giant Wipro ( WITnews - people ) and recently Daimler AG. (Full disclosure: I am a longtime friend of Owens’. We hail from the same town–Bismarck, N.D.–and currently sit on the boards of two private companies together.)

Owens told conference attendees that the top-performing sub commanders had “soul” and showed empathy for the sailors under their command. The very best sub commander Owens ever saw in the Navy was an officer who once spent an entire night consoling a homesick new enlistee.

Corporate America is replete with great empathetic leaders. Bill Hewlett, cofounder of Hewlett-Packard ( HPQnews - people ), was a legendary one. He liked to roll up his sleeves and inspire engineers by walking the floors and listening to their concerns. Empathetic leadership under founder Herb Kelleher and current CEO Gary Kelly is the reason that Southwest Airlines ( LUVnews - people ) even today has some of the happiest flight attendants in the skies.

Humble Servitude

A third style of leadership is that demonstrated by Wal-Mart ( WMTnews - people ) Chairman S. Robson Walton. At the conference Walton was interviewed onstage by Steve Forbes. Walton said it is the job of leaders to “listen to customers, listen to customers, listen to customers” and thereby establish a service spirit for the whole company. Walton took over his father Sam’s empire in 1992, when Wal-Mart was doing $55 billion in annual revenue, almost all of it in the U.S. Today Wal-Mart is a global giant, with sales of more than $400 billion.

Rob Walton’s secret is that he does not pretend to be Sam Walton, who founded Wal-Mart in 1962. Sam was an archetypal entrepreneur. Rob chooses to be the humble-servant leader. Under Rob Walton’s leadership his company has listened well–even to its many critics–and prospered.

Moral/Ethical

An insistence on companywide ethical behavior–i.e., every employee practicing the Golden Rule in all company dealings–can be a powerful form of leadership. But it is also a fragile form, subject to human frailty. One mistake and a moral/ethical leader can easily look like a hypocrite.

If that’s too much pressure for you, consider Francis Yeoh, head of Malaysia’s YTL Corp., which builds utility plants, high-speed rail service and hotels. An advocate of moral leadership, Yeoh is also an outspoken Christian in a Muslim-majority country. In other words, Yeoh and his company have no room for ethical lapses. Yet Yeoh says the moral way is the only way to go. YTL’s compound annual growth rate of 55% over the last 15 years (in pretax profits) is proof that the higher bar of moral/ethical leadership can pay off.

In the U.S. such companies as S.C. Johnson, Deere & Co. ( DEnews - people ), American Express ( AXPnews - people ) and Starbucks ( SBUXnews - people ) have done well by doing good.

There are many more leadership styles beyond these four. If there’s any secret to leadership, it is “fit.” Leadership style must fit the leader, and it must fit the organization.

Read Rich Karlgaard’s daily blog at http://blogs.forbes.com/digitalrules or e-mail him at publisher@forbes.com. See Rich Karlgaard’s new TalkBack video series at http://forbes.com/talkback.

October 13, 2009

Competitive Strategy 101

Filed under: Uncategorized — FemiStevens Inc. @ 9:16 pm

ChampionThere is a military adage that says, “No strategy ever survives first contact with the enemy.” No business strategy ever survives the first contact with the marketplace either. It must be adjusted to deal with the realities of the moment.

Know Your Enemy
Here is a question for you: Who is your competition? Exactly? Your choice of competitor determines almost everything you do in your market, just as the choice of an adversary determines everything a general does in the process of conducting military operations.

Determine Customers’ Buying Motives
Once you have determined why it is that people buy from you, you must then answer the question “Why do people buy from my competitors? What value or benefits are your potential customers convinced they receive when buying from your competitor rather than from you?”
Marketing Myopia
Many people dismiss or ignore their major competitors. They criticize or belittle them when their names come up. Often they think and say that customers who prefer competitive offerings are simply ignorant or misled. As a result of this self-inflicted myopia, they fail to observe and learn how to outdo their competitors in tough markets.

Offset Competitors’ Advantages
As you study your competitors, look for ways to offset or neutralize the advantages their customers perceive them to have. What are your competitors’ weaknesses? How can you exploit those weaknesses? What do you do better than they do? In what ways are your products or services superior to their offerings? In what areas do you have a distinct advantage over your competitors? What can you do to offset your competitors’ strengths and maximize your own advantages? How can you better position yourself against your competitors in a tough market?

You Must Be Clear
The greater clarity you develop with regard to your competitors’ strengths and weaknesses and to the reasons your potential customers buy from them, the better able you will be to counter them and compete effectively. Rigorous competitive analysis can be a vital key to business success. In its absence, you will always be at a disadvantage.

Action Exercises
1. Who is your competition with the exact customers you are trying to attract?
2. What would happen if you changed your offerings in such a way that you targeted a different group of customers who would be easier to sell to?
3. Why do your potential customers buy from your competitors? What advantages do they perceive?
4. What are your competitors’ unique selling propositions? What special feature or benefit do their products or services have that yours does not?
5. In what ways are you superior to your competitors? What can you offer that they cannot? How can you emphasize this advantage in your sales and marketing efforts?
6. Where are your competitors vulnerable? How could you exploit their vulnerability to your advantage?
7. How could you alter your marketing strategy in such a way that you could achieve dominance with a specific customer or market segment in a particular area?

Contribution: Brian Tracy

October 10, 2009

How To Blog Everyday

Filed under: Global Generic — FemiStevens Inc. @ 8:08 pm

Blog 1I put up a blog post (almost) every day, and sometimes, I put up more than one a day. On top of this, I write for clients, write for other projects, work on books, and other things. Some of you don’t have all these other writing commitments, but still want some ideas on getting more writing out the door. Here are some thoughts into my process that I hope will give you a framework for writing a blog post (almost) every day.

 

How to Blog Almost Every Day

  1. Read something new every day. Need a starting point? Try Alltop. (Hint: read something outside your particular circle to get new thoughts).
  2. Talk with people every day. I get many of my topic ideas from questions people pose to me, or through conversations.
  3. Write down titles and topic ideas in a notepad file. ( I’ve given you 100 blog topics and another 20 blog topics just to get started.)
  4. Maintain a healthy bookmarking and revisiting habit. I use Delicious.com
  5. Find 20-40 minutes in every day to sit still and type.
  6. Follow an easy framework. Here are 27 blogging secrets to start you on what I mean.
  7. Get the post up fast, not perfect. You can edit if you have to, later. Perfectionism kills good habits.
  8. Dissect other people’s posts to understand what makes them tick. The more you understand of HOW they write, the more you can take the best parts of it into how you write. (hint, my 27 blogging secrets post gives you my patterns.)
  9. Find useful and interesting pictures. I use Flickr photos licensed under Creative commons for most of my photos. This helps me sometimes get a great photo for a post I already have in mind, but it also gives me post material sometimes.
  10. Think about what your customers and prospects need. I write from the perspective of the communities I serve. Every post is aimed at something I believe will be helpful to my community in some form or another. This focus takes some weight off my worries about what I should write about or not. I write about what my community needs.
  11. Mix things up by sometimes blogging on paper first.
  12. Mix things up by writing guest posts for sites that aren’t like yours. This gives your mind new formats to think about. I did this recently as part of a project and I loved it.
  13. Mix things up by changing the lengths of your posts: some long, some brief. Learn what makes an impact how.
  14. Never worry about throwing up the occasional “best of” post, once you get enough material. Example: here’s My best advice about blogging.

It’s not easy, but once you develop the habits, they stick with you. I’m writing quite regularly now, but it took me several years to get my groove down to a science. Some days, it’s still thrown off. Busy schedules can get the best of us, no matter what. That said, try to keep some content “in the can,” so that you’re rarely at a loss to keep your audience happy.

What do you think? Any other ideas to add?

I put up a blog post (almost) every day, and sometimes, I put up more than one a day. On top of this, I write for clients, write for other projects, work on books, and other things. Some of you don’t have all these other writing commitments, but still want some ideas on getting more writing out the door. Here are some thoughts into my process that I hope will give you a framework for writing a blog post (almost) every day.

 

 

How to Blog Almost Every Day

  1. Read something new every day. Need a starting point? Try Alltop. (Hint: read something outside your particular circle to get new thoughts).
  2. Talk with people every day. I get many of my topic ideas from questions people pose to me, or through conversations.
  3. Write down titles and topic ideas in a notepad file. ( I’ve given you 100 blog topics and another 20 blog topics just to get started.)
  4. Maintain a healthy bookmarking and revisiting habit. I use Delicious.com
  5. Find 20-40 minutes in every day to sit still and type.
  6. Follow an easy framework. Here are 27 blogging secrets to start you on what I mean.
  7. Get the post up fast, not perfect. You can edit if you have to, later. Perfectionism kills good habits.
  8. Dissect other people’s posts to understand what makes them tick. The more you understand of HOW they write, the more you can take the best parts of it into how you write. (hint, my 27 blogging secrets post gives you my patterns.)
  9. Find useful and interesting pictures. I use Flickr photos licensed under Creative commons for most of my photos. This helps me sometimes get a great photo for a post I already have in mind, but it also gives me post material sometimes.
  10. Think about what your customers and prospects need. I write from the perspective of the communities I serve. Every post is aimed at something I believe will be helpful to my community in some form or another. This focus takes some weight off my worries about what I should write about or not. I write about what my community needs.
  11. Mix things up by sometimes blogging on paper first.
  12. Mix things up by writing guest posts for sites that aren’t like yours. This gives your mind new formats to think about. I did this recently as part of a project and I loved it.
  13. Mix things up by changing the lengths of your posts: some long, some brief. Learn what makes an impact how.
  14. Never worry about throwing up the occasional “best of” post, once you get enough material. Example: here’s My best advice about blogging.

It’s not easy, but once you develop the habits, they stick with you. I’m writing quite regularly now, but it took me several years to get my groove down to a science. Some days, it’s still thrown off. Busy schedules can get the best of us, no matter what. That said, try to keep some content “in the can,” so that you’re rarely at a loss to keep your audience happy.

What do you think? Any other ideas to add? –Chris BROGAN

October 4, 2009

7 Great Business Tips

Filed under: Uncategorized — FemiStevens Inc. @ 2:08 pm

Great secrets of great companies and personalities are communicated in tips. The lines below will save you years of research and rigorous sessionsNavigation 1. Those who can discover and run with them are the ones who end up being more successful and great.

Simply put:

1. Always assume it is your responsibility to make things better

2. Get others involved, create synagestic collaborations or masterminds

3. Stay connected and engage expert and professional of proven skills

4. Recognize and celebrate good work. Be thankful.

5. Streamline your schedule and meeting by prioritizing them.

6. Balance your risk.

7. Listen. Listen. Listen.

Enjoy!

October 3, 2009

Entrepreneurs: The Movement

Filed under: Uncategorized — FemiStevens Inc. @ 10:30 am

chess4

Who will save the economy? It is all up to you. The entrepreneur. The Kauffman Foundation recognizes that entrepreneurs are the backbone of this economy, but rarely represent their opinions and ideas in a unified voice. To provide a platform for the entrepreneur’s voice, Build a Stronger America was launched last week. The website, Twitter feed, and Facebook fan page all encourage entrepreneurs to submit their ideas to solve real world problems.

As Carl Schramm, president and CEO of the Kauffman Foundation, explained in a story on the Huffington Post, “The vast majority of new jobs during tough economic times are created by entrepreneurs, and since 1980, all net job growth has come from businesses less than five years old. Entrepreneurs nationwide know firsthand the transformative effect that starting a business can have on individuals and on their communities.”

Schramm goes on to point out a great disconnect. While Americans understand the value of entrepreneurship and its contribution to job creation, “our national dialogue doesn’t include comprehensive discussion of policies that promote private sector, job-creating reform.” Build a Stronger America, “is intended to fill that void by giving entrepreneurs the voice they need.”

The U.S. Dept. of Commerce appears to be listening, having just launched the new Office for Entrepreneurship and Innovation. According to Commerce Secretary Gary Locke, the Office will, “help entrepreneurs transform ideas into companies” by helping new business owners, “get training, credit and access to government research, in a bid to encourage the ‘right kind’ of risks by business leaders.” Secretary Locke believes that the primary focus of government support should be focused on the first step in the business cycle – moving an idea from “somebody’s imagination or from a research lab into a business plan.”

As an entrepreneur, what do you think? Can entrepreneurs self-organize to share their voice and influence a national dialogue?

Contribution:Jen van der Meer (Inhabitat)

How to Seal That Deal-Venture Capitalist

Filed under: Consumer Products — FemiStevens Inc. @ 8:28 am

Entrepreneur

 

You will find these 12 lessons insightful as they come directly from the gurus(Mike Moritz of Sequoia Capital, Paul Graham of YCombinator, and Guy Kawasaki of Alltop) in venture capitalism. If you’re an entrepreneur who is thinking of raising venture capital, these are the most valuable nuggets you’ll ever read as I did:

 

  1. Entrepreneurs don’t have to be “proven” to impress venture capitalists, but they do have to get things done and be creative, enterprising, determined, and smart.
  2. Entrepreneurs do not have to present proven things. When things are already proven, they tend to be uninteresting.
  3. Entrepreneurs should not only be good at building things—they should also enjoy doing it. The question is: “What have you built outside of school or work?”
  4. Entrepreneurs must prove to their investors that the company is the most important thing in their lives.
  5. Sequoia loves the underdog. That is why the firm is funding so many companies in China, India, and Israel. And, it turns out, these foreign companies are kicking butt in revenue and innovation.
  6. It’s okay if entrepreneurs do not know how to make money yet. The most important thing is that they have a great product.
  7. The best financial forecast is developing something that people really care about. If that is the case, the money will follow.
  8. Venture capitalists have super fine-tuned BS detectors. Entrepreneurs can’t fake sincerity or the pursuit of excellence.
  9. Generic language, like “passion,” is a turn-off for investors. Entrepreneurs should not say that they have passion—they should show it.
  10. The smarter the investor, the more entrepreneurs should be candid.
  11. Entrepreneurs should not surprise investors, so be forthright.
  12. Today’s startup environment is a world in which entrepreneurs must be self-sufficient. Entrepreneurs cannot rely on getting outside money.

Contributions: various.

May 18, 2009

Four Most Important Investments

Filed under: Uncategorized — FemiStevens Inc. @ 2:05 pm

Investment 11. Invest in Yourself: This means investing in professional skills, and in your personal development. Jim Rohn says, “Invest more in yourself than in your career”, and I think that’s good advice. This means reading! It means attending the best seminars, and talking with the best people. Invest in yourself because the most skilled, the most attractive and the most competent people are NEVER unemployed.

2. Invest in Technology: You can not maintain a professional practice without efficient tools! Streamline and automate everything! A few dollars and a few days of training to use the right tools will pay dividends for years to come.

3. Invest in Communication: Unless you can communicate efficiently with your customers, suppliers, colleagues and staff, all the skills in the world mean nothing. You have to explain. You have to answer questions. You have to calm their fears, solve their problems, and provide value they can understand. This means appropriate use of technology (see above), and it means learning to work well with people. Effective communication is essential.

4. Invest in Customer Care: A few customers well taken-care-of, will provide all the marketing you need! Single-vendor relationships are increasingly common, and a happy customer who comes back, and who recommends you to their friends, and asks for more and more of your services, will make you rich. Extreme customer care doesn’t cost; it pays!

May 3, 2009

Consumer Product Evolutions

Filed under: Global Generic — FemiStevens Inc. @ 9:04 pm

C0Nsumer PR0duct ev0LUTI0N_1The whole essence of business competitivenes is all about relevance, employing various tools to attract and sustain the customers’ loyalty.
We gravitate towards those things that are relevant to us, obeying the natural law of attraction.
The trend always appeals to one or more of our dominant emotions and senses.

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