The Competitive Advantage
March 21, 2017
I was in Memphis this past weekend. My son-in-law, Wade (that’s him with the cheeky sign), is wrapping up medical school… and it was “Match Day.” During Match Day, graduating med students from all across the country “open their envelope” at exactly the same time to find out where they will be doing their residency.
Wade ‘matched’ in orthopedics at the Medical College of Georgia… he and my daughter are very excited. And it’s at this point that the story gets interesting.Continue Reading
January 25, 2017
Answer: It’s a lot higher than you think!
Creating a “client for life.”
True story. I’ve been working with a large firm in our industry for the past several weeks… and one of the data-gathering projects we did early on was to look at Revenue by Client, for each of the past several years.
Of all of the insights that this exercise can provide, the most interesting – in this case – was that 40% of their clients only did one project with them… and then never returned!
We’ve done this “one-timer” analysis for many firms and the resulting information is ALWAYS a surprise… because the percentage of one-and-dones is ALWAYS higher than the client expected!Continue Reading
December 20, 2016
True story… I received a notification from the State of Tennessee recently that it was time to renew my ‘dba.’ Fine… so I filled out the form, wrote the check and sent it in. A few days later, I received an envelope back from the department I had responded to. On top of my form and my check – which they were returning – was a letter from the head of the department and, across the top, stamped in big letters: REJECTED.
Crap! What did I do… wrong amount on the check, improperly filled out form, what? Nope. I had sent in my form and my money too early! ARE YOU KIDDING ME? So, let me get this straight… one of your customers (me) pays TOO promptly… and your response is to send the money back?
You can’t make this stuff up!Continue Reading
December 6, 2016
Planning for revenue growth in 2017: Part 5 of 6
If you’ve been reading along with this series for the past several weeks, you know that we’ve covered several fundamental, but critical, ways to enhance your marketing & sales as you move into 2017, including:
- Understanding the perception of your firm in the marketplace
- Sprucing up your LinkedIn profile
- Starting to blogging
- Picking up the phone
Today, we explore what should be at the hub of your marketing efforts – your website… and how to do a website update.
Without suggesting you embark on a complete re-do of your website – especially before the end of 2016 – here are 4 easy tips to help get your website ready for 2017:Continue Reading
November 29, 2016
Planning for revenue growth in 2017: Part 4 of 6
If I were to ask you what each of your clients think about you, you would probably say something about them generally liking you… after all, they’re sending you their business. And you’d probably be right.
But what if you’re not?Continue Reading
October 18, 2016
Here are 6 ways to make that happen.
In the 4+ years we’ve been open, I don’t think I’ve spoken with a single research firm that doesn’t have 40-50-60% (or more) of its revenue tied up with just 3, 4 or 5 clients. Losing a small client is bad enough, but losing one of these ‘Key Accounts’ can be devastating. So, what can you do to ensure this doesn’t happen to you?Continue Reading
September 27, 2016
Early last year, I wrote a post about a blue-tooth frying pan that notifies you when it’s time to flip your pancakes. Silly!
Well… the “innovators” are at it again! In the October 2016 issue of Fast Company, there’s a small article on Nike’s new self-tying shoes! Whuut?!
Now, if these were being developed to help frail seniors or those with physical disabilities… I kind of get it. But they weren’t. They seem to have a somewhat less noble purpose, according to a Nike engineer, “You can feel it tighten, hear the motor run, and see the laces [move]. It’s a shoe that ignites the senses.” Seriously?!Continue Reading
May 31, 2016
This past week, I spent some time online doing research for new project management software. I did a Google search for highly-rated platforms, then went to the website of those that interested me.
One of the first things I do when investigating software is to watch a video demo to get a feel for the platform. This week, though, on the websites of two of the platforms I was investigating, the videos weren’t working! Videos are perhaps the most important element on a website selling software… and they were broken. And these are software companies!
Which got me to thinking about all businesses… after a new website launch, how often do we go back and look through it to make sure everything is functioning properly? If you’re like most businesses, not very often… or more likely – never! At least not until a client calls to alert you about a problem… and by then, the damage has been done.Continue Reading