Archive for Business
Time – An Entrepreneurs greatest asset
Posted by: | CommentsWhen you think about the one thing you are limited on its time. Time is the one thing you can never get more of and can never get enough of. As an entrepreneur one of the skills you will need is how to manage your time correctly, how to utilize the time you have in the most profitable way.
When I started this blog it was to cut down on one on one time I was giving entrepreneurs and business owners. I love helping people and I love talking about business and great ideas. The problem is there is only so much time in the day. So I started this blog as a way to reach more people with advice at one time.
This lead to me giving some seminars at Nefesh B’Nefesh. Attending a live seminar is more powerful and has a greater impact then writing a blog post.
And so I spent more time over the last six months preparing and giving seminars then writing useful blog posts. Sure I still post from time to time and usually with some great content that I found that I want to share with my readers, but not the longer more in-depth posts that I have written in the past.
One of the best books I have read on time management and the one that has the most positive effect on me is “The 4 hour Work Week” by Tim Ferris. A new and updated edition is coming out on the 15th and if you never read the first edition, or even if you did, I strongly suggest getting this new edition when it comes out.
One of the things that Tim stresses is cutting out unimportant emails. This for me is a huge challenge since I am pretty much addicted to checking my email, but I am trying and doing better.
One of the things I did was I had all my community newsletter emails go straight to a folder in my email box. Sure I never read them and I know less about what is going on in the community, but I must have saved myself a couple of hours a week and feel less stress of having to read them or I might miss out on something. So far the really important things in the community I find out from other sources and I no longer have the need to read each one when it comes in.
I have also started to opt-out of other types of email newsletters and blogs and only stick with the few that I find really valuable.
What about you? How do you save time? Any tricks you want to share?
View & Download: The 10 Commandments of Starting A Business Presentation
Posted by: | CommentsNo-Risk Leverage for All Your Marketing Activities
Posted by: | CommentsOne simple way to gain quick leverage in your marketing is to focus the right message to the right customer. Consistently.
I know that sounds very obvious, but look around you and at your own company: Is it done?
A useful tactic is to create a handful of customer profiles, or ‘sketches’ of different types of customers. You can then articulate the right messages to the right people in the right way at the right time.
How do you create customer profiles? Use the following three questions as your guide:
- What are the REASONS that people buy your type of product or service? What are their desired results? Make sure you understand the logical reasons as well as the emotional and psychological satisfactions people want.
- When people think about your products and services, what are some common CONCERNS they have? Assumptions they make? Misconceptions? Fears? Worries? Questions?
- The third question helps you add dimension to your answers to the first two.
Think of factors such as geography, age, past experience, price range, how they found you, marital status and so on. Which of these or similar factors may influence either the REASONS someone would want to buy from you and or the CONCERNS they are likely to have (beliefs, worldview) about buying your products and services?
Once you’ve answered these questions, you should be able to create four or five common customer profiles.
Now that you have the profiles:
- It’s likely that one or two of them represent more value for your company than the others. The old 80-20 rule. Separate those out for special attention.
- For each profile, but especially for the one or two that represent significant opportunity, ask: How can we optimize our marketing and sales processes to better appeal to the hearts and minds of customers within this profile?
Let me know your results.
Reply if you have any questions.
Finally, answer a short survey and get a free 15 minute consultation as a thank you: http://www.dovgordon.biz/more-customers.html
Dov Gordon
+972-2-992-0396
New mall is opening, what kind of food is secondary to what is really important
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- Image via Wikipedia
I saw this on one of the Bet Shemesh Email lists today:
Have your say and eat it! Choose today what food will be served in the Dolev
Mall
Y&G Surveys, designers of consumer and public opinion surveys, invite you to
rate your food preferences:
Which eatery would you be interested in having in the new mall on Nachal
Dolev? (Rank between 1 ? 5, where 1 is of greatest importance.)
Coffee Shop
Burger
Pizza
Pita, Felafel
Ice Cream Parlor / Fresh Juices / Crepes
Now I am as excited as the next guy for havine some new places to eat in Ramat Bet Shemesh, but they are asking the wrong questions or focusing on thewrong things. In my 7 years so far living here I have seen many retaurants come and go and have never been excited about any of them besides Aroma and now Hashamen for great Shwarma.
Lets take an example. Asking us if we want another pizza place in this community, well if it will be anything like the existing 4-5 places we have I would say no, don’t bother. But what if it was a Pizza Hut or Sbarraos with a Mehadrin Hechsher? Or even a branch of Giant Pizza from Modiin? Well then I would be excited and welcome it. What if it was a Pizza Place with a choice of 15 different toppings, a full salad bar and perhaps some pasta dishes or Heaven Forbid Eggplant Parmajan and Cheese Fries? Well then I say who cares what the name is, bring it on!
Now if I had to choose one place I would like, I would have to say a coffee place, A mehadrin version of Aroma with a bit of a different meny would be most welcomed. But will it have the speed and cleanliness of Aroma?
Another falafel place I don’t think is needed and the falafel in town is pretty good. Another burger place is also not something I think is so needed. A separate ice cream store can also just be combined with a great coffee shop or deluxe pizza venue.
How about asking us for our own ideas? Not sure if it would succeed or not, but an American style fast Chinese place would be great, something like they have in Malcha Mall or Center 1.
In anycase I think what people in this community in the Dolev area is looking for is:
- Mehadrin Hechsher
- Cleanliness
- Speed of order
- More options on the menu
- Unique menu
- Free Delivery
What type of food being served is secondary.
The biggest problem with businesses in Israel is the lack of passion
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- Image by The Falafel via Flickr
Passion = Success
Have you ever gone into a store in Israel and the cashier or person running the store is on his/her cellphone? What happens when you walk in? Usually absolutely nothing. And if you have the nerve to ask a question to the worker they give you this look like why are you interuppting them when they are on the phone.
If you want to be successful in anything in life it helps to be passionate. In fact, if you look at those whom are most successful you will see they are very passionate about their business. If you see someone rise to the top in his/her company, chances are they are passionate about their jobs.
If two people are up for a promotion, but only one can get it, who do you think will be chosen with everything being equal except one person is more passionate about the job then the other.
If you are planning a wedding, it helps and make the wedding a success if you are planning it. The same thing about school. Who do you think ends up getting the better grades? Of course the students that are passionate about learning. The same is true in perhaps everything in life. If your passionate about your marriage you will have a better marriage.
That’s why when starting a business the number one thing you should look at is if your passionate about the idea. If you are, the chances of your success just trippled.
Below is an article from Entrepreneur about turning your passion into a business. It is a must read and sure to inspire.
The Puzzle Model: Piecing together as a business model
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- Image via Wikipedia
Just read another great post by Seth Godin called “How to be a Packager“. In it Seth starts out by talking about putting a book together and being the one that manages the flow. Everything from putting the authors together to designing the cover to selling the book. Kind of like a wedding planner for books.
“A book packager is like a movie producer, but for books. You invent an idea, find the content and the authors, find the publisher and manage the process. Book packagers make almanacs, illustrated books, series books for kids and the goofy one-off books you find at the cash register. I did everything from a line of almanacs to a book on spot and stain removal. It was terrific fun, and in a good year, a fine business. Along the way, I worked with just about every major publisher and created more than a hundred books. I packaged (with various levels of success) video games, college professors, Julia Robert’s astrologer, an award-winning children’s novelist, the Weekly World News, Kinko’s and (almost) Craftsmen Tools.”
He then goes on to talk about using this model but for other ventures. The truth is this is not a new model and as I said on top it’s sort of like being a wedding planner. There are many industries and businesses that are built on being what Seth call a “Packager”.
Now while Seth is talking about taking perhaps existing products and or content and packaging them together, I would like to spend a couple of minutes talking about “Packages” that save time and the value they bring.
This is probably best noticed with consultants. Consultants have the experience and the knowledge to direct and guide you to the solution you are looking for. While it is possible to find the information on your own, a consultant can save you tens or even hundreds of hours. You just need to ask yourself how much is your time worth.
Another similar deal is a web design firm. Where as I am a big advocate of using FREE website designers, this is mostly for informational type of websites, easy E-commerce sites or for when you are just getting started. But if you are looking for a more advanced type of website, a web design firm will create a whole package for you including hosting, paypal integration, blog software, forms, design, etc.
The point is even though you can do something yourself with enough time, is it really something you should do? Again, it depends on how much you value your time.
Another thing to think about is how can you create a new business by saving time for people whose time is valuable. Think out of the box. The same with being a packager. What can you package together that will bring value and save time for those that need what ever it is your selling? There is plenty of opportunity out there and the article by Seth Godin is a good way to inspire you and get you started.
Just because you can, doesn’t mean you should
Posted by: | CommentsIn the seminar I gave last week I mentioned a few times that “Just because you can, doesn’t mean you should”. What I mean by that is just because you can start a website or blog, doesn’t mean you should.
I said that the first thing you should do before starting a website or a blog is to write down your goals and what you hope to accomplish. The main reason I say this is because once you publish something on the net it sort of stays forever. Even if you delete a post or a website doesn’t mean that someone with the know how can find it and repost it. If you are going to publish something make sure you will never mind anyone finding it or reading it even in the distant future.
This comes to play a lot when you are building a large business or are more in the public eye. I try very much to stay away from topics of relegion or polotics when I publish something on the web because you are always going to end up upsetting someone and you never know if that will some how come back to haunt you.
Now if you really don’t care what other people think (as I am known to be) then go ahead and publish what you want. The reason I don’t is because I don’t only represent myself. I represent the companies I have founded and the future companies I have yet to found. I represent current and future investors, employees and clients and even though it may not “be fair” to have your personal feelings affect your company doesn’t mean it doesn’t.
So if you ever plan on launching a company or business larger then your local neighborhood I strongly reccomend that you be extra careful on what you post online. Yes it can be hard and those that know me know that I am a passionate person, but you sometimes you need to hold back.
This is one of the reaons why I “have two names”. Online most people know me as Richard Kligman yet in my neoghborhood and amongst my friends I am known as Nachum Kligman, but that is for later and a much longer post.
PS: Similarly to creating something online, just because you can create a product doesn’t mean you should. Check out the pics below for an example. 
How to Be Super-Valuable to Your Customers. My wife taught me this…
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- Image by Getty Images via Daylife
My wife taught me this lesson a few years ago: “If you want to help me, ask me what would be most helpful!”
Uh, oh. It was no longer up to me to choose dishes, bedtime or picking up a floor full of toys. But you know what, we’re both happier since!
The same simple truth applies to business.
If you want to be valuable to your customers, don’t tell them what their favorite color should be. Equally important: Don’t decide for your employees how they can best help your customers! As obvious as this sounds, we mess this one up all the time.
My friend and colleague Dr. Guido Quelle, member of the Million Dollar Consultant® Hall of Fame recently discovered something interesting. Research conducted by his Dortmund, Germany based firm, Mandat Managementberatung GmbH, showed that this behavior is way too common.
When you design and institute a process, it obviously makes sense to get input from those who will be affected by it. Yet nearly 60% of survey respondents reported that internal or external customers of new processes provided little (50%) or no (8%) input! They simply weren’t asked. Only 12% of respondents reported that “Desired outcomes of processes are coordinated fully with internal and external customers.”
We all know this. So why do we do it?
We do it to avoid discomfort, conflict or some other feared problem. Or we “don’t have time” and want to move fast.
Almost always we’re trading away a small delay or discomfort today for a bigger problem tomorrow.
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Here’s a useful exercise for your next staff meeting. Ask everyone to write down three areas where, individually or collectively, you are creating problems that can be avoided and / or are laying the foundation for big problems in the future by taking the easy road today.
