Archive for the 'Business' Category

Most People Send And Receive Proposals. The Question Is, What Is Your Responsibility Once You Get One?

Monday, November 9th, 2009

So you need your pool fixed, want to build an addition to your house, or you need a new engine for your 1967 Corvette. Or perhaps you want to put in central air or need your driveway paved.  Or what about a need to conduct some market research?

What do all these things have in common?

Yes there is a buyer and a seller. But that’s not what I am referring to. All of those things involve a proposal. Someone needs to understand the requirements of the buyer and prepare a proposal. As we all know, preparing a proposal can take a while and in some ways costs money. Yes it is at times mostly labor but it does cost money.

Let me know if this sounds familiar:

You have a great discussion with a client or prospect, you take down all of the specifications and you know in your heart that you could do a great job. You prepare the proposal and include what you think is a fair price. What happens next? You wait, sometimes for weeks, months or longer and you never hear anything. Not one word.

  • How do you feel?
     
  • Do you wonder what happened?
     
  • Was the project awarded?
     
  • Do you wonder why your company didn’t win the business?

I am sure all of us have experienced those feelings and questions.

The question is, what is the responsibility of the person receiving the proposal?

  • Shouldn’t they get back to you in a timely fashion with some feedback?
     
  • Do you get back to your vendors when they send you a proposal?
     
  • How frustrating is this process in today’s economy?
     
  • Any ideas on how to make the process better?

I look forward to reading your comments.

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What I Try And Do Every Day.

Monday, November 2nd, 2009

Some days I leave the office and ask, "What did I do today?" The day starts early–usually around 6:00 am and continues until around 5:00pm. Most days, time goes by very fast – sometimes so fast it’s a blur. And at times when I try and replay the day it is difficult to say I did this or that.

I know there are a few things that I try and accomplish every day. I try and move the business forward. Try to see if anyone needs help. If anyone needs a set of eyes to review some tables, if anyone needs some assistance preparing a proposal, if anyone is too busy doing whatever and needs help making a client deadline. I am not suggesting that I am the person to help but I am saying that I can find someone to help.

Also I try and stay in touch with our clients and prospects. During this year I have made more of an effort to see and reach out to our clients.

I also try and look at things differently. Is there a better way to do this or that? Is there a more efficient way to accomplish something? This person appears to have some available time.  How can they help another department?

In addition to those things, I also watch the bottom line. How are we doing financially? Where do we have wasted spending? Can we accomplish the same thing for less?

So when I review my day it looks something like this:

  • Try and find ways to help the staff
     
  • Stay in touch with our clients and prospects
     
  • Try and find ways to do something better
     
  • Watch the bottom line

 That’s what I try and do every day.

What about you?

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Attention Best Buy: Right Question, But You Need To Add Another One . . .

Friday, October 30th, 2009

Okay, let me start by saying I shop at Best Buy. Yes I have a Rewards Card and use it often and yes I run (actually sprint) to the store every time I get a Rewards Coupon. I love the store and really enjoy shopping there. As you walk into the store you are always greeted by a greeter who welcomes you. When you are in the checkout line the cashier will always ask "Did you find everything that you were looking for?"  Great question–appropriate for sure. I am sure some customers say, "Well actually, I was looking for blank and didn’t locate it."

Last week my son wanted me to go to Best Buy and purchase a new DVD movie. As always I walk into the store and the greeter welcomes me and I go in and browse. But this time something different happens: I look around and can’t find the DVD. I assume it is coming out next week. So I walk out of the store without buying anything.

Yes a "good-bye" – from the greeter – but nothing else?

I say why is that?

I believe they are missing a great opportunity to engage a customer who just was in their store and didn’t buy anything. Why aren’t they asking me:

  • I noticed you didn’t buy anything – can I help you find the item you were looking for?
     
  • Oh – I know you were looking for this but this item will also accomplish the same thing.

To me, they aren’t taking customer service to the next level.

They are missing a great opportunity and frankly they are letting revenue walk right out the front door.

What are your thoughts?

  • What do you think about what I described?
     
  • Are there other stores that do the same thing?
     
  • Do any stores stop customers that are leaving empty handed?

I look forward to reading your comments.

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Sometimes It’s Okay To Come In Second!

Friday, October 23rd, 2009

I’m sure the title of this post made you think I was nuts and perhaps crazy.  Yes I am competitive – ok very competitive and want to come in first all the time. As I get older it’s about a lot of things.   Effort and how you show up are very important.

About a month ago we found out we didn’t get a piece of business that we wanted. Yes we want all business for which we are lucky enough to send a proposal, but this business was a little different.

It was a nice-sized project, and would have given our team a chance to utilize some different skills. As part of the project we would have been given an opportunity to present this to our client’s clients and be involved in the sales process which would have been very cool. Also the main contact at the client is one of the nicest people I have ever met in the research industry. He not only is very intelligent, he is very, very caring about his research partners and kept us informed every step of the way. His communication skills are a benchmark for everyone’s communication skills. In addition, the project was in the sports industry so you can see why we really wanted this piece of business.

Our proposal that we sent was solid. The client narrowed the potential vendors from ten to four and we were one of the lucky four. Next stop: a trip to NY and a presentation in front of the client team which was ten people. Although I was there, I talked very little but rather watched our research team razzle and dazzle the client. Our team of SH and SH was great. They knocked it out of the ballpark and frankly in my mind couldn’t have done anything better. We had a terrific methodology, a great research plan and they both answered all of the clients’ questions like champions.

Frankly I was–and still am–VERY proud of both of them.

Well we didn’t get the business. Our contact scheduled time with our team to review the reasons why we weren’t selected. Side note: don’t we all wish clients would do that? How many times do you send a proposal and NEVER hear back from the client?

The bottom line for me was we not only tried our best, we really performed at a very high level but weren’t awarded the prize. Since we gave it our best, did everything we possibly could, I say "Sometimes it’s okay to come in second!"

  • Do you agree with that statement?
     
  • Do you have to win in everything you do?
     
  • What are some of the things you teach your kids about winning and losing?
     
  • Have you been proud of your team or yourself when you have come in second, third or beyond?

I look forward to reading your comments.

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Isn’t It All About . . . FOLLOW-UP?

Wednesday, October 21st, 2009

If you want to go to dinner and the movies with your friends, you need to make plans and then follow up to make sure it happens. If you want to play tennis or baseball you need to make some calls, coordinate everyone and follow up. If you go to a conference and meet a few prospects, in order to turn that into revenue and a new client you need to follow up. When you are in the middle of a client presentation and one of your contacts asks a question that you might not be 100% sure of the answer, you need to follow up in a timely fashion.  If not, your customer service will take a hit and frankly your contact will probably be unhappy.

To me it’s all about follow up. You interview for a job. Send a follow-up email/letter. You win a project . . . send a follow-up email/letter. You lose a project . . . the same thing should happen. Someone gave you a birthday present . . . Guess what? Follow up.

The question is, how is your follow-up?

  • Are you really good at it?
     
  • Do you have some best practices you could share?
     
  • Do you have friends that you make plans with and they never follow up and you never see them?
     
  • How do you feel when you give a gift and there isn’t any follow up?
     
  • How are your vendors/partners follow-up skills?

I look forward to reading your comments.

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Have You Been To Or Plan To Go To “The Shack?”

Monday, September 21st, 2009

Close your eyes and when you say or hear the words "The Shack", what comes to mind first? For me it is either Shaquille O’Neil or a greasy spoon restaurant at the beach–somewhere I would go wearing a bathing suit, no shirt, sandals and sun glasses. Well there is another meaning for The Shack. The Shack sells lots of stuff and the Shack just became the Shack very recently. Prior to being called the Shack, it was a company that was founded in 1921 close to 90 years ago as RadioShack.

I realize that over time things change and the word radio means less than it ever did. Yes technology in the past 90 years has exploded and come away from the traditional radio that my parents and their parents listened to music and ballgames on.

I won’t argue the name change. I don’t pretend to be a "name change guru" and perhaps they needed to change the name of the company.  But The Shack? A 4 billion dollar company with over 35,000 employees is called The Shack!

Maybe it’s just me, but I don’t get it.

I must admit I don’t shop there and can’t even remember the last time I was in one of their stores. So I might be missing something. I believe there is a Shack in one of my towns but it isn’t in an area that I go to often, so I never go in.

  • When you hear the word Shack what comes to mind?
     
  • What do you think of the new name?
     
  • Does it work for you?
     
  • What other names could they have gone with?
     
  • Did you shop at RadioShack?
     
  • Will you shop at The Shack?

I look forward to reading your comments.

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How Do You Stay On Top Of Your Game?

Friday, September 4th, 2009

Recently I was forwarded a great article (thanks G.A.) that was an interview with David Novak Chairman, Chief Executive and President of Yum! Brands.

The article discussed some of his business philosophy, bosses, lessons learned and his best interview question.

How do you stay on top of your game? To me I interpret that question to be how do you get better at what you do? How do you know what is happening in your industry? How do you become more relevant with your clients?

I thought this was a great question and one that I have already started using when I interview candidates.

For me I try to get better at something every day. I try and read a number of articles and subscribe to online newsletters that are relevant. I also make it a point to attend industry sessions that give me a chance to hear what experts think about a particular subject and keep in touch with many contacts in the industry to keep my hand on the pulse of the industry.

But now it is your turn to answer the question:

How do you stay on top of your game?

I look forward to reading your comments.

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Know Your Company . . . Know Your Competition!

Wednesday, September 2nd, 2009

A few weeks ago I was watching the 2008 World Series of Poker on ESPN. Please stop laughing. I know that event happened last year and yes I know who won but there wasn’t a ton of other things on and I like to watch poker on TV from a strategy standpoint. Most professional poker players would say that in order to be successful, you need to read the other players better than playing your cards. In essence, know the competition, know their tendencies, understand them . . . really understand them and you will probably beat them.

I paused for a minute or two and asked myself is the same true about all industries and specifically the market research industry. If you are a finalist for a piece of business:

  • Do you know who the competition is?
     
  • Do you know what your strengths are compared to them?
     
  • Do you try and highlight their weaknesses?

To me it was interesting to think about and relate it to our company.

Yes in this economy, price is a deciding factor on lots of projects–more than many people would like to admit. But with that said, there has to be a number of projects where highlighting your strengths vs. the competition should come into play.

If that is the case what are you doing about it?

  • Do you ask clients who else is in the bidding process?
     
  • How much information do you know about the competition?
     
  • Are you on their websites?
     
  • Do you review their ads and marketing materials?
     
  • Do you get their newsletters?
     
  • Do you know their pricing strategy? (Okay, I’m pushing the envelope a little bit and know that most people WON’T admit that.)

I look forward to reading your comments.

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It Used To Be WHY NOT And Now It Appears To Be WHY BOTHER!

Friday, August 21st, 2009

For me something seems to have changed in the past year. Maybe it is the economy or just a cycle but lots of businesses seem to be going through this. Years ago I used to feel and hear a lot of people who were treating their clients like gold. It always seemed that "WHY NOT?" was the standard. Anything could be done to please a customer and no request was ever too big. You felt the company would do anything for you 24/7. It almost seems like that has turned into "WHY BOTHER?" What’s the point? I am probably not going to get a bonus or anything extra so why should I go above and beyond. I have seen this so many times in so many retail establishments it isn’t funny! Way too many to count. But from where I am standing it doesn’t end with them.  It seems like it’s contagious and in most businesses.

Have you noticed this as well?

  • What happened?
     
  • Is it the economy?
     
  • Is it the last few generations of workers?
     
  • Is it work ethic?

Whatever it is I really don’t like it. I think the mindset really needs to change and change quickly.

Employees make the difference if the cash register rings! If revenue is going to go up it needs to be a team effort and everyone contributing to ensure every customer is happy every time they do business with the company.

What are your thoughts?

I really look forward to hearing your comments.

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Good Reference, No Reference, Bad Reference. What Do You Do?

Friday, July 31st, 2009

I am sure that most people who are reading the blog have taken a call from someone who is looking for a reference. They would like a little insight on how talented the person was, would you rehire them, why did they leave, what were their strengths and weaknesses and plenty of other questions.

The question is how do you handle it? Clearly that question is somewhat easy to answer if the employee was terrific, a hard worker, made a difference and you were sorry to see them go.

The questions is what if:

  • You only worked with them for six months?
     
  • You didn’t have a great experience with them?
     
  • They always called in sick?
     
  • They missed tons of deadlines?
     
  • You worked with them fifteen years ago.
     
  • They were difficult to manage?

What do you say then?

Does it also depend on how well you know the person asking the questions?

I must admit I do struggle with this sometimes and frankly would rather NOT answer the questions rather than giving out a bad reference. On the other hand I tend not to hide my feelings about a co-worker and will mention things that need to be improved while I am working with them.

How do you handle these situations?

With more and more people in transition, this is leading to more and more of these types of calls.

I am really interested in your comments.

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