Understanding Intent versus Impact in the World of Marketing

It is essential to understand as much about your audience as possible, especially the differences between "intent" and "impact" in the world of marketing. Intent is something that you have total control over - it's what every font selection, every color choice, every turn of phrase and every piece of collateral is ultimately building towards. Impact, on the other hand, is something else entirely. Making an effort to understand the difference between these two concepts is the key to maximum success moving forward.

It All Comes Down to Perspective

The major difference between intent and impact ultimately comes down to a matter of perspective, or an acknowledgment that sometimes a statement (or in this case, a marketing message) isn't necessarily as "black and white" as you may have thought it was. In addition to knowing who the people you're marketing to actually are, it's important to understand as much as you can about the way they think.

Before you send any marketing message out into the world, there are a few key questions you need to ask yourself:

• How will this message play in different regions of the country? Are there certain terms that are used one way on the coasts and another way in middle America? What difference does that make, if any, in terms of how that message would be received?
  
  


• How do pain points differ based on audience? Is a very specific problem that one portion of your audience has not an issue at all to others? How does something like economic status play into how a particular message might be received?
  
  


• How will the culture change the way the impact of a message varies when compared to the original intent? Even if you're not a global company, think about things from that perspective. You would probably have to make some adjustments to your messaging when marketing to customers in Europe versus those in the United States as you're talking about two totally different cultures with different norms and taboos. Are there any cultural implications that might adjust the impact of your message in a way you're unprepared for?

This approach will help give you as much insight as possible into the various perspectives of the people you're trying to reach, which can not only make campaigns resonate more but it can also help avoid sticky issues like this one at the same time.

At the end of the day, the difference between intent and impact in the world of marketing can be summarized like this. "Intent" is the thing that you were trying to do - the message you were trying to convey or the goal you were trying to accomplish. "Impact" is what you actually did, which itself is influenced by a wide array of different factors. Sometimes a message that you had complete confidence in is received in a way that you could never have predicted and these are the types of moments you need to be ready for.

What Your Customers are Worth (and Why it Matters)

What is the value of a customer? What profit can they bring this week? This year? Over a lifetime? It may seem like a simple concept, but many small businesses have no idea what a regular customer is worth to their business. This creates two problems:

• Uncertainty about effective marketing. What is the number of new customers you'd like to attract and what is an appropriate budget to do that? Defining a customer value will guide your marketing strategies!


• Ambivalence regarding customer retention. With a metric for measuring customer values, you can navigate appropriate parameters for retaining them or expanding their business. Research shows that increasing customer retention rates by merely 5% increases profits by 25% to 95%!

Customer Lifetime Value

While there are many complex formulas for calculating a Customer Lifetime Value (CLV), a basic approach is to break calculations into five digestible portions, like this:

1. Average Order Value (AOV). On the most basic level, AOV is calculated by how much money is spent per customer in a year, divided by how many orders are placed by that customer in that timeframe.


2. Purchase Frequency (f). Take the number of orders/visits/transactions from the past year and divide it by the number of unique customers you had. The total equals frequency, or how often an average customer purchased from you.


3. Customer Value (cv). The base value of a customer can be calculated by multiplying the AOV by the purchase frequency (cv = AOV * f). In this instance, the customer value is being calculated for one year.


4. Average Lifespan/Time (t). A customer's lifespan is how long they actively connect with your business before they move on or go dormant. This can be a complex calculation, but to keep things simple you can either give a broad estimate (an educated guess) or you can calculate an average based on a select number of known customers (adding the length of each of their commitments and dividing by the number of customers). For example: Total Length of Commitment/Number of Individual Customers = Average Customer Lifespan (t).


5. Customer Lifetime Value (CLV). Now that you've got a general idea of a customer's value for a year and the average customer lifespan, you can use these variables for a lifetime value: Customer value (cv) * Average Lifespan (t) = Customer Lifetime Value (CLV)

While this is a very simplified equation, even a ballpark CLV can give you a more accurate idea of how valuable each client is to your business. What should you look to spend in order to gain a customer? How much should you spend to extend their loyalty? A benchmark CLV will give you a helpful base for marketing, loyalty programs, and sales goals for the upcoming year. Take a look at a more complex approach Starbucks has taken to determine their CLV as a whopping $14,099!1

Your Customers Are Your Future

A customer represents the future of your success and your livelihood, and it will be difficult to thrive if you aren't willing to risk or invest to attract new business. What are your obstacles to expanding your reach or enlarging your advertising? Has the uncertainty of direct mail marketing kept your business from growing? Why not rely on our expertise? We offer sophisticated, simple ways to reach a mass audience for an amount that works within your budget. Need a creative concept or help to carry it to completion? We offer prompt, knowledgeable service for every custom design mailing. Give us a call today!

Visuals Need a True Narrative For Maximum Effectiveness

Human beings are visual learners, which is part of why visual communication is so effective (and important). Whether you're talking about a B2C or B2B situation, marketing presentations allow your message to transcend the world of more straightforward marketing tactics and take on a whole new potential audience at the same time.

Case in point: according to one study, people only tend to remember about 10% of what they hear just three days later. If they receive the same message when paired with relevant visuals, that number jumps to an incredible 65%. It makes sense, then, that 37% of marketers said that visual resources like presentations were one of the most important forms of content for their business in general.

However, presentations are NOT necessarily a silver bullet, and you shouldn't treat them as such. Without a strong narrative at the core of your marketing, in general, it's far too easy to get lost in fluff that ultimately doesn't matter - affecting the impact on your audience as a result.

What's in a Narrative? Quite a Bit, It Turns Out

Call it whatever you'd like - a narrative, a central idea, the main thesis, etc. Every campaign needs a straightforward idea (preferably one that can be summed up in a sentence or two) at the start of it all, acting as a solid foundation from which everything else is built.

For the sake of comparison, let's look at the power a simple narrative brings to the table regarding another visual communication medium: filmmaking. The movie "Star Wars" from 1977 is one of the most successful films of all time. It spawned billions in merchandising sales, one of the most successful franchises ever, and even led to the $4 billion acquisition of LucasFilm by Disney a few years ago.

But "Star Wars" isn't really about crazy aliens, amazing spaceships, thrilling outer space battles and all of that other stuff. At heart, "Star Wars" is a simple and relatable narrative: a young boy who grew up on a farm dreams of a better and more exciting life, so he jumps at the chance to join the Rebellion and travel the stars.

It's not any more complicated than that. Every single scene in the movie reinforces that narrative in some way. It all relates back to that simple idea.

Simple and Effective

Your marketing needs to be the same way. Whatever idea that you're trying to convey or message that you're getting across, it needs to be A) stated up front, B) as short and as simple as possible and C) relatable in some way. As long as you have those three elements, every other decision you make with regards to content needs to refer back to it, and your marketing will soar.

Having a strong, true narrative (and identifying it before you begin work) keeps you focused. Without a true narrative at the heart of it all, you're left with marketing that doesn't really justify its own existence.

Boosting Customer Engagement with Fall-Themed Promotions

Fall is a beautiful time of year with cooler weather in some regions, and connotations of family in all parts of the country. Fall brings with it traditional themes of back to school, falling leaves, carving pumpkins, football, and fall holidays. One of the most popular traditions during the fall season is the range of pumpkin-flavored treats available. Using these themes, you can create campaigns to drive new customers and return business.

1. Giveaways and Contests

It is always fun to promote a coupon or giveaway with a fall flavor. These can include coupons to neighboring businesses for cross-promotion or sweepstakes for fall gifts. For B2B companies, it is best to keep these rewards under $10 because some industries have strict limits on what they can receive as gifts. Easy gifts are seasonal doughnuts, bags of coffee, pumpkin pie or other food specialties of the season. If you prefer to offer non-food rewards, small sports-related gifts make good selections. It is best to have rewards that appeal to most clients whether men or women and any age.

2. Seasonal Discounts

Offering seasonal discounts as companies ramp up for the year can drive business. These discounts should be offered in early August to allow for planning time. Giving customers bulk discounts for large orders is a good incentive for any product or service.

3. Educational Videos

Combine some video with your print promotions to encourage loyalty from your customers. Videos can truly be on any subject to help customers better understand what you do and how best to approach you for specific jobs. Humorous videos are an excellent way to help customers remember what they have learned. You can promote custom products and services that make your business unique and invite them for a free sample after viewing the video.

4. Fall Infographics

The football theme is a great one for fall infographics. You can lay out a play-by-play scenario for a custom service on a colorful direct mail infographic that will catch your customer's eye. Use it as a poster in your building, email it to your customer list, and hand it out with orders. Infographics are great for simplifying complex ideas with simple illustrations and graphic arrows.

These are just a few ideas to get promoting this fall. Remember, if you need help with your printing and marketing, give us a call today!

Healthy Employees Are Productive Employees: Why to Incentivize Health at Work

Productivity really is the secret to everything in terms of your business' success. Happier employees tend to be more productive, which is why it is essential that you focus on things like corporate culture and team-building exercises whenever the opportunity arises.

Many people don't realize, however, that this is only one small part of a much larger story. It isn't enough for your employees to be happy - healthy employees are also significantly more productive than those who are not, which is why if you're not already making health and wellness top priorities within your organization now would be an excellent time to start.

Healthy Employees and Productivity: Facts and Figures

According to a series of studies that were recently conducted on the subject, healthy employees may be a whole lot more valuable than you've even realized:

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  On average, employees who eat healthy foods (or who at least make an effort to do so) tend to be about 25% more productive than those who do not.

  
  


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  Employees that exercise for at least a half hour each week are an impressive 15% more likely to have higher job performance than those who do not.

  
  


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  Healthy employees also take fewer sick days, which is not surprising. The true revelation, however, is just how far this benefit goes: absenteeism is a massive 27% lower in employees who A) eat healthy, and B) exercise regularly.

  
  


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  The most important statistic of all is the fact that overweight and generally unhealthy employees cost employers in the United States an astounding $73.1 billion collectively per year, part of which has to do with the fact that they tend to file twice the number of workers' compensation claims than those who do not.

  
  

At this point, the answer to the question "how important are healthy employees?" becomes resoundingly clear: very, very important. But saying that you value your employee's health is one thing. Actually taking steps to show that this is true is something else entirely.

How to Value Health at Work

Luckily, valuing healthy employees is simply a matter of a series of small choices. You can begin by making sure that healthy snacks are available for employees in the office who may be "burning the midnight oil," for example. If you're one of the many workplaces around the country that has a vending machine on-site, consider restocking that vending machine with healthy snacks like fruits and vegetables instead of the traditional potato chips and sweets. People will absolutely start to eat them, especially if they don't really have an alternative.

You'll also want to consider emphasizing health in terms of things like employee benefits packages. Consider throwing in a free gym membership to a local fitness club that employees can take advantage of after they've worked with your organization for X number of weeks or months. It may not be something that everyone uses, but those who do will benefit greatly. You'll also benefit, too, as this is a clear sign that you actually care about the health and fitness of your employees - something that will make it easier to attract top talent in the future.

Also remember that according to one report by Quantum Workplace, employees tend to be 14% more engaged when they are provided some time off to "recharge their batteries," so to speak. So the next time you think it's a good idea to make people work incredibly long hours week after week, you may want to think again.

Bullies, Burgers, and Buzz

What do Whopper Juniors and bullying have in common these days? They are both being talked about. A LOT.

Recently, Burger King released a three-minute video in honor of National Bullying Prevention month. The viral video revealed that 95 percent of customers were willing to report their smashed, "bullied" Whopper Jr., but only 12 percent stood up for a high school student being harassed in the same store. The "No Junior Deserves to be Bullied" spot received national attention, generating countless online shares and loads of free publicity. One blogger said this:

"Yes, this is basically a three-minute Burger King ad. And, yes, it's not subtle. But this PSA is better than it has a right to be, and is certainly more than you'd expect from a restaurant that doesn't really have an ethical obligation beyond selling burgers . . . this weirdly good anti-bullying PSA will wreck your day."

Viral: Why Certain Messages Multiply

Have you ever wondered why some YouTube videos go viral? Or why some products receive more word-of-mouth and top-of-mind awareness? Whether we're in marketing, politics, or public health, it's helpful to consider why certain products or ideas catch fire. Wharton marketing professor Jonah Berger, author of Contagious: Why Things Catch On, devoted nearly a decade to researching this very question. We all know that word-of-mouth marketing is the most dynamic form of influence, but why do some things seem to create more buzz? Berger gives several ideas for getting your ideas to stick and to SPREAD.

1. Social Currency. What we talk about influences how other people see us - whether we look clever, silly, or thoughtful. How can our product or idea be a fun or interesting thing for someone to share with others? Many who shared the Burger King ad found it to be a compelling social commentary, a fun (but thoughtful) perspective worthy of passing along.
   
   


2. Triggers. People often talk about whatever comes to mind. Just like a Subway ad might be effective in a subway station, a trigger is an association that prompts people to think about related things. Burger King wisely released this PSA during Bullying Prevention month, because what is on the top of the mind is often at the tip of the tongue. Burgers and bullies were on our lips in October.
   
   


3. Emotion. How can we craft messages and ideas that make people feel something? Our relational bent prompts us to share things that are surprising, inspiring, funny, beautiful, or motivating. Burger King tapped into a heartfelt issue, knowing that when we care, we are more likely to share!
   
   


4. Stories Sell. Why are Super Bowl commercials so fun? Because nothing tops a great story, and these ads tell them well. Top marketers know that one way to replicate a message is to embed it in a "Trojan Horse," or a noteworthy narrative people are bound to repeat. In this instance, the Whopper Junior had a supporting role in the greater story of bullying and social justice. But Contagious reminds us the product or idea has to be essential to the plotline: "We need to make our message so integral to the narrative that people can't tell the story without it."
   
   

Getting Your Message to Spread and Stick

Looking for ways to get your message to spread and your brand to stick? From large-scale publicity to customer care and referral options, we have opportunities in all sizes. We'll help you package your stories, triggers, and ideas with several time-tested tools and tricks. Give us a call to talk options!

Ways to Protect Your Brand in the Real-Time Information Age

A brand is more than just a company logo, and it's bigger than any one particular product or service. Instead, it's the feeling that people get when they think about your company. It's what goes into the instinct they have regarding whether or not to make a purchase.

A brand is also massively important in terms of how successful your marketing efforts will be in the long-term. The impression someone has of your brand is something that occurs almost immediately. 48% of consumers say that they are more likely to become loyal to a brand if their first experience is a positive one, regardless of whether or not that experience actually took the form of a purchase.

That means your brand must be protected at all costs, particularly in the real-time information age that we're now living in. People are being marketed to from nearly every angle. If you don't work hard to strengthen and hone your brand, you run the risk of being lost in the shuffle. Hope is not lost, however, as there are a few key things you can do to protect your brand as much as you can.

Consistency is Key

One of the most important things you can do to protect your brand is focus on something that real-time information doesn't provide: consistency. According to one study, 90% of consumers expect that their experience with a brand will be similar across all channels - whether you're talking about print, in-person interactions, or digital content.

Don't Wait For Your Audience to Come to You

Another study estimates that, on average, you really need about five to seven positive brand impressions with a consumer before they start to remember your brand in a similar light. This is good, but you need to remember that in a real-time information age, you don't necessarily have the time to wait for a consumer to initiate those impressions.

Also, consider the fact that brands that are consistently presented are three to four times more likely to experience brand visibility. YOU must be reaching out to your audience by way of consistent, enjoyable and helpful experiences whenever and wherever you can. Increase the frequency of the print marketing collateral that you're putting out there and focus on being helpful, educational, and informative.

The Unmistakable Benefits

Give people as many opportunities to experience your brand as you possibly can and your entire identity will benefit as a result. If brand visibility is something of a numbers game, you need to play those numbers as well as you possibly can. Don't wait for someone else to hopefully do it for you.

Successful branding brings with it a wide range of different benefits, from increased customer loyalty to an improved image, to a relatable identity and beyond. But in an age where information is everywhere, your brand is something that you also need to work hard to proactively protect. If you don't, you run the risk of watching those important relationships with your audience begin to deteriorate.

Maintaining a Work/Life Balance: Why Perspective Is Key

Work/life balance? No problem, right? But then those daily tasks start to add up and your nights start getting longer. You start going in on the occasional Saturday, then the "frequent" Saturday. Pretty soon you're so bogged down with your "to-do" list that you can't even think about taking that vacation with your family.

Maintaining a proper work/life balance is a challenge, sure - but it's also a lot easier than you might think.

Enjoying Life is a Task, Too

When the pendulum that is your work/life balance begins to swing decidedly in the direction of "work, work, work," you start to encounter a few key problems almost immediately. You're trying to do too much at the same time, and the quality of work tends to suffer. You're also getting burned out, which leads to less getting done because you lack the motivation to push on when you need it the most.

This is a large part of the reason why experts agree that you should look at downtime for what it is: a mission-critical task that you need to preserve your productivity throughout the week.

As you begin to build your schedule each week, make sure to add leisure activities at strategic points when you'll need them. Don't be afraid to add "go to the movies" to your calendar for Thursday, or pencil in that lunch with your old college friend on Monday afternoon.

If You Want to Move Up, Plan Some Down Time

Human beings NEED downtime to stay efficient. It's a way to periodically re-charge our batteries. It's the reason why people say you shouldn't cram all your studying into the night before a big test in college and should instead break your coursework down into smaller, more manageable chunks in the weeks proceeding that moment. The former is an absolute recipe for disaster, and the latter supports the way your brain operates.

If you add in leisure items to your list of things to do, you'll enjoy the added benefit of being able to check them off said list throughout the week. When you do this, it releases endorphins into your brain - meaning that you get a boost of satisfaction from having accomplished something, anything, and you get to take a mental breather at the same time.

None of this is difficult advice to follow - all it requires is some perspective about the things that matter most in life. Yes, work is important, but actually living your life is important, too.

Print Advertising Feels Like Printing Money

Wouldn't it be great if you could print your own money? Life would be so much easier, right? Well, maybe not, but here's a little secret that feels like printing money: print advertising.

Print Advertising is Like Printing Money

Good advertising can go a long way for your business. Sometimes it's hard to explain what good advertising is, but you know it when you've seen it. Whether it's a heartfelt image or a tagline that makes you think, there's just something about incredible advertising that has a way to move and motivate you.

Good print advertising can inspire you to make a change, donate to a cause, or purchase that cool, new tech device. It provides everyone who passes it, holds it, or takes it out of a mailbox the chance to see that printed information. And, since print advertising is often locally targeted, it means that you can create a far more personal connection to your community than you can with digital ads.

Every time someone sees your printed advertisement and, in turn, goes in and buys a product or service from you, you're essentially printing your own money! These customers may have never come to your business and purchased your product or service without seeing the advertisement.

You Like What You See, You Buy What You Like

Picture this: You're walking down the street. Maybe you just finished grabbing a coffee with a friend, and you're heading back to your car. You check your watch to make sure you're still on time to pick up the kids from school. You look up and there, on the side of a building, is a poster for a brand new product one of the local boutiques is offering. It stops you in your tracks as you gaze up at it. It's incredible! How come nobody else ever thought of that before! You pull out your phone and snap a picture, so you remember to pick up the item later.

All of this is the power of print advertisement. People pay little mind to online advertisements, and TV ads are often on while the viewer is off grabbing another beverage from the kitchen. Print ads, however, are there regardless of what a person is doing and how often they pass a certain intersection. And every time someone sees the advertisement and buys something, you've just printed more of your own money.

So, what are you waiting for? Now is the time to start printing your own money in the form of print advertising!

Want to Be Successful? Take Time to Dream

One of the most famous dreamers of our time is Steve Jobs, the Co-founder and CEO of Apple, an iconic visionary who believed so deeply in the power of his dreams that he was able to bring them to life for millions of people. Jobs believed that the era of mediocrity was over and that you should put in the work on every project to make it great. His famous recommendation to a Disney retail executive to "Dream bigger" when it came to Disney stores resulted in a new type of store experience that continues to delight children of all ages. How can you leverage these same tactics and take the time to dream big in your own life?

Dream Fearlessly

Individuals often lose confidence in their dreams because everyday reality creeps in and has a way of tamping down your passion. Big dreamers are different. Even if you think they're relentlessly optimistic, it requires constant hard work and commitment to make dreams come true, and a fearless need to be successful.

Believe in Yourself

Constantly second-guessing yourself doesn't leave a lot of time for forward movement, making self-confidence a critical requirement for living your passion. You have to identify every element of your vision down to the smallest detail, and then break it down into the small steps required to make it happen. Professional athletes are very familiar with this concept, as they are coached to visualize making a basket, getting a hole in one, or nailing a complicated gymnastics floor exercise.

Take Action

Dreaming is great, but once the dream is solidified it is time to begin moving! Harness your beliefs and stay focused on reaching your goal. There will be others who will support you along the way -- great! There will also be those individuals who are constantly looking to undermine your skills, your ability, and your passion. Graciously ignore them, and keep taking steps to move your dreams forward into reality. Pausing too long to consider the consequences can often result in a missed opportunity, which may not come around again.

Compete to Win

Successful dreamers are by nature quite competitive. They're always looking around for how their competition is doing something and finding a way to improve upon the concept, or better yet -- revolutionize it in their own way. Solving problems for your customers is a daily devotion, allowing you to rise to any challenge and overcome it as you follow your dreams.

Leave Space for Dreaming

What can you stop doing (immediately, next week, in six weeks) that will free up additional time for dreaming? It can be incredibly difficult to fuel your passion when you're so caught up in everyday activities and overall busyness that you aren't able to stop and think. Actively look for ways that you can create space in your daily activities that provide a block of time in which to think about the future and how you'll get there. Your future self will thank you!

Finally, and perhaps most importantly, persevere. When things don't work out exactly as you had planned -- keep going. Remind yourself that nothing good comes overnight, and success can take years to achieve. Stay resilient, be patient and keep dreaming!

What Leadership Really Means in the Era of Working Remotely

More employees are working remotely than ever before. According to research conducted by GlobalWorkplaceAnalytics.com, roughly 50% of the workforce in the United States holds a job that is "compatible" with at least partial telework. Of those people, about 20 to 25% of them actually do work remotely at some frequency.

More than that, a further 80 to 90% say that they would really like to work remotely at least part time - pointing to a trend that is only going to get more popular as time goes on.

Employees who are all able to work from home (or wherever they'd like, really) sounds fantastic... if you're an employee. But what if you're an employer? More than that, what if you're a leader? How do you continue to do your job of bringing people together to benefit the greater good if they're all spread out over a potentially massive geographic area?

The Job Hasn't Changed...

The "good news" is that the leadership qualities required to steer any organization towards success have not changed, nor are they likely to ever do so. You still need to be an excellent communicator, making sure that everyone is on the same page, that they know what "success" looks like, and that they all still feel like they're contributing to something much more powerful and important than themselves.

You still need to be willing to lead by example, never asking someone to do something that you're unwilling to do yourself. You still need to inspire people to give their all not because their paychecks depend on it, but because they just can't help themselves.

... But the Tools Have

Things have changed, however. In terms of communication, for example, you need to be willing to adapt your process to rely less on face-to-face interaction and more on the digital resources that you have available to you. Collaborating on a project no longer involves sitting in the same room and hammering out ideas. Now, it'll involve using some cloud-based solution to give everyone editing access to the same files at the same time.

This type of thing will require an adjustment from your perspective, but it is one that is undoubtedly worth making. Typical telecommuters tend to be much happier with their jobs than people forced to come into the office every day, which will directly affect both productivity and work quality in a positive way. 73% of telecommuters say that they're more satisfied with their company than they've ever been before. Most of them work more than 40 hours per week. They also tend to work harder to create a friendly, cooperative, and positive work environment - something that you're also trying to do by being the best leader you can be.

In truth, how you're able to change your management style to keep up with the demands of the modern telecommuting workforce will go a long way towards deciding what type of leader you'll be today, tomorrow, five years from now, and beyond.

The Persisting Power of Loyalty

What is loyalty? Loyalty is words combined with actions. It is devotion tested by time. It is steadfast security that grows from a most prized character quality. Theodore Roosevelt said, "It is better to be faithful than famous." American author Elbert Hubbard agreed: "If put to a pinch, an ounce of loyalty is worth a pound of cleverness."

Relationally, loyalty builds trust, security, affection, and the ability to thrive. The same is true professionally - only as we build loyal customers and employees will we begin to see business prosper and flourish to its fullest potential. So how can you grow something so intangible, yet so critical, to the foundation of your organization?

Three Primary Pathways

The good news is, you already have buy-in at some level. Whether you have a small business or thousands of employees, customers and co-workers have entrusted you with their money, their well-being, or their future. And people who have "bought in" are looking for reassurance that they've made a good decision! How can you move them from the point of trial commitment to a place of wholehearted ownership? Here are three pathways to press into:

1. Cultivate Loyalty. Being so focused on bringing prospects through the front door, sometimes, you can forget about those going out the back. Enduring connections happen when you urge your clients and employees to stay the course by encouraging them to renew their commitments and helping them VALUE what is VALUABLE.
   
   


2. Celebrate Loyalty. This can be as simple as a Christmas card or as heartfelt as a personal phone call. As a company, be sure to set tangible goals and conspicuously celebrate the progress that's been made. Look for strategic ways to cast vision, gather testimonies, craft impact pieces, and honor important milestones. Creatively appreciate your clients and co-workers, and publicly commemorate a job well done!
   
   


3. Reward Loyalty. According to the book Marketing Metrics, the probability of selling to an existing customer is 60-70 percent, and they typically spend 67 percent more than first-time clients. Additionally, persuasive personal recommendations are most likely to flow from your base. What are you doing to reward that devotion? Aren't your most valuable clients or employees worth a little extra expense? Consider personalized incentives, tailored service packages, or preferential terms, discounts, or benefits. Give these influencers personal access to your leadership and go the distance to meet and exceed their expectations. Don't forget, authentic personal relationships are a powerful motivator.

Prioritize People

Are you looking to cement your customer base so your organization can flourish to the fullest? Prioritize people as you cultivate, celebrate, and reward loyalty. Companies that can do this will experience enormous benefits through a thriving reputation, consistent customer retention, and enhanced employee satisfaction.

Your Company's Waste Makes This Man Rich

Matt Malone would probably be considered an odd fellow and maybe even mentally ill by those seeing him on the street. However, for those who know Malone personally, they might think that he's a genius.

Malone is, in modern terms, known as a dumpster diver. That involves essentially going into large dumpster bins and rummaging around to see what people have thrown away.

Malone was first introduced to the practice by accident when working in a company that got rid of far too much valuable, working equipment. What he realized at first was that the items were still usable, valuable, and most importantly, functional. However, when he took them home and started making inventions with the items, he realized something more - people wanted what he was finding and were willing to pay real cash for the items.

Diamonds in the Rough

Today, Malone is at an expert level, finding gems in the rough and converting them into sales of hundreds and even thousands of dollars. In fact, he makes more in dumpster-related sales than he does in his regular job.

However, this article is not about Malone's success. It's about the fact that Malone's earnings are possible because businesses regularly throw away thousands of dollars of perfectly fine commodities and equipment simply because it's not needed, no longer perfect, or no one knows what to do with it in the office. As a result, companies small and large are bleeding expenses daily without seeing the full benefit from what was bought. And that makes Malone a rich man.

Whether it's security cameras, unused ink toner, or usable furniture, companies move out perfectly viable goods and products to their collective dumpsters every day. And this obvious waste and loss of company money is because there is no incentive within most companies to try to make things stretch further. Don't need that toner anymore? No problem, buy a new one and throw the old one in the box in the hallway. The janitor will take care of it regardless of the fact we spent $300 to buy it on the last office supply order.

Reuse, Resell, Recycle

People regularly make fun of the TSA and government airport security, but the security agency has one step up on some of the smartest companies. Instead of adding more trash to landfills with all the nail clippers, pocket knives and nail files they confiscate from travelers at the security gates, they bundle them into large bins and sell them on eBay, recouping actual cash from free confiscations. How many companies actively recoup funds by reselling what they don't need? Not enough, which is why Malone and dumpster divers like him are becoming rich people.

Many parts of the world look at the U.S. and see it as synonymous with waste and laziness. But it doesn't have to be this way. A simple bit of attention on equipment and inventory can change behavior dramatically in every office and program.

General Motors got smart and now saves a $1 billion a year. By simply making it clear not to waste and to proactively consolidate extra material for reuse or resale, companies can add a small, but valuable additional revenue stream to their bottom line. That may be bad news for Mr. Malone, but he's likely not too worried. So many businesses are throwing away so much product daily, he's unlikely to run out of free trash discoveries and supply for a long time.

Why Does Elon Musk Want Dissenters in his Company?

In many companies and organizations, there is a position that most employees learn to avoid. It's the position that stands out from the crowd and represents the minority voice on the team. Instead, folks learn to see which way the water is flowing and the music is playing, and they align their interests and concerns accordingly. It's often couched in phrasing as "being a team player" and being a "proactive player instead of a negative burden" or similar.

Elon Musk, the well known chief executive of SpaceX which just recently solved how to create a space rocket that can land itself and be reused again, follows a different path with his employees. He actually wants people to tell him when they think he's going down the wrong path. As Musk puts it, the lone dissenter or minority voice often points out issues and facts that if ignored can turn into costly problems later on. However, if a company team only follows the majority path, it can quickly turn into the fatal path of groupthink and "yes" men, ignoring major warning signs a big disaster is about to occur.

The Reward Dissenters Bring

Elon Musk and SpaceX are no strangers to risk. They operate in the high stakes game of off-Earth space transport and travel. A mistake in this environment has almost always meant total loss and millions of dollars wasted. So from Musk's perspective, a dissenting voice provides multiple benefits. It forces the supported path to be defended better by showing why the concern raised is not an issue, a form of vetting before moving forward. Second, the minority opinion frequently brings up risks or concerns that may be glossed over otherwise because they are inconvenient to the supported path. Again, the biggest business mistakes often start with small, ignored issues, like a small leak in a levee.

The idea of rewarding the person who raises potential problems goes against the trend of American business. For decades business managers have been taught that the team is all-powerful and that many minds in synergy produce more than the individual alone. However, this also assumes a lot of mistakes are made along the way to develop that experience. In rocket-building, however, mistakes can't be tolerated, so Musk believes in asking every question and giving a chance for dissent, an antithesis to traditional corporate culture.

Think This Doesn't Apply to You? Think Again

Some might argue that the same situation of a rocket company doesn't apply to a business creating software or coffee-makers. Businesses can afford to have mistakes and still make sales. However, in practice, this logic fails when the company gets sued and loses a major product warranty or personal injury case. Litigation has killed more than one small or medium business with a great product or service but no defense to a mistake that harms someone.

Musk doesn't believe every dissenting opinion should be followed. In fact, he notes in his advice they can be incorrect. However, listening causes the path chosen to be analyzed just a bit further to identify weaknesses missed. And in Musk's business, if it exists, avoiding that weakness can mean his multi-million dollar rocket landing again in one piece. What does it potentially mean for your company?

Reputation Management: Why You Need to Keep a More Proactive Watch Over Your Most Valuable Asset

While it's true that your brand's reputation will play a significant role in an essential factor like word-of-mouth, the real power of paying attention to what people are saying about you runs a bit deeper.

The Importance of Reputation Management: Facts and Figures

Consider the following statistics to help paint a vivid picture of the situation you're dealing with:

• According to one study, an incredible 74% of people now consult Yelp or a similar service when looking for some type of business or service provider - even if they plan on carrying on a relationship exclusively in "real life."


• The above statistic may actually be on the conservative side - another study indicated that 97% of consumers say that they read online reviews about local businesses on a regular basis before deciding whether or not to make a purchase.


• Speaking of which, a one-star rating hike on a service such as Yelp often equates to a 5% to 9% rise in overall revenue. Let that sink in for just a second.


• Another study by the World Economic Forum revealed that on average, more than 25% of a company's market value could be tied back directly to its reputation and general perception.


• A massive 86% of people say that they would pay more for services if they could guarantee they were being provided by a company with higher ratings and a larger number of positive reviews.

As these and other statistics indicate, reputation management is a lot more than just doing what you can to control word of mouth. Even people who discover your brand, your products, or your services entirely independently of anyone else could still shy away from that purchase if your reputation isn't what they were expecting.

The most alarming statistic of all, however, is the fact that 50% (!) of business owners say that they have found incorrect information on their business listings. This means that not only is this info damaging your reputation in a potentially harmful way to your bottom line, but it's doing so needlessly as it is incorrect in the first place.

Getting a Grip on Your Reputation

The most important thing to understand about reputation management is that it is NOT something you do once and then forget about. This will require you to look online on a regular basis to see what people are saying about you, what information is getting posted, and taking advantage of any opportunities for course correction as they present themselves.

But even going beyond just correcting false information, there are a number of other essential proactive steps you can take to help strengthen your reputation as much as possible.

Send follow-up surveys to buyers to see what you did properly and, more importantly, what mistakes you made. If someone sends you an email with a legitimate issue, be sure to follow-up on that issue within 24 hours.

Never, under any circumstances, encourage people to leave "fake" or "artificial" reviews about you or a competitor. The consequences far outweigh anything you will gain. This includes offering gifts for good reviews. If you're caught, and you likely will be, there is no telling what damage you might sustain.

In the end, reputation management is something that you will have to do on a regular basis moving forward. It's a large part of why many businesses hire employees with this particular job in mind. But then again, when you're talking about what is arguably the most valuable asset your business has, it makes perfect sense that this amount of effort would be required.

3 Gems for Small Business Owners from Jack Ma

At a recent business leader meeting put on by American Express, Jack Ma from the Alibaba Group was the guest celebrity speaker. The reason why was that Mr. Ma was invited to share a bit of his wisdom and advice, particularly to small businesses. American Express has been maintaining a campaign of supporting and driving sales to small businesses to help them grow nationwide.

A Little Bit of History

Jack Ma did not come from well-established roots like, for example, President Trump. Ma was born and raised in mainland China, competed against thousands of others for a rare spot in the Chinese university system, and could not find regular employment many times. Then, with a spare moment of luck, he was exposed to the internet and realized nobody had catered websites to the Chinese. From there, his success took off, most notably with Alibaba.com.

Simple Gems of Advice

In his speech, Mr. Ma focused his advice to small businesses on three points:

1. He advised business owners and those considering the venture to find out why businesses fail. Schools typically only teach success stories, but it's critical to know what causes some people not to succeed to avoid the same mistakes.


2. Business owners should listen carefully to their next-door neighbors. They are, literally, average consumers who can tell a business owner a library of secrets about what a consumer actually looks for when shopping. The problem is, people tend to avoid their neighbors thinking they're too nosy. It's an opportunity missed.


3. Small businesses should "fix the roof when the sun is shining." It's an analogy that essentially means a business owner should be making changes and additions when things are going well. When things are rough, or there's a major challenge, it's not the time to be spending energy and money on fixes. Get to a good point again before thinking about changing operations or adding to costs.

Get Out of the Weeds

A lot of what Mr. Ma provided in his speech may seem like common sense for small business owners, but it's hard to focus on thinking strategically when one's head is buried deep in just trying to make it through the day. This is why his advice is so important; it reminds business owners to take a moment once in a while to get their head out of the weeds and think in terms of running a company again instead of momentary crisis management. In Ma's opinion, smart and successful business owners are looking, learning, and timing their decisions with the best opportunities. And, they are not ignoring the best sources of business lessons when they become available.

If You're Not Already Blogging, Now Would Be an Excellent Time to Start

Many people fail to realize just how important blogs are to a successful business because they still think about what blogs used to be. In the early days of the internet, many blogs were essentially "live journals." If you wanted to read about what a trendy high school girl was having for lunch with her friends, she probably had a Blogspot blog that would let you do just that.

But today, blogging has become much more powerful and is one of the best ways to connect with your target audience.

The Power of Blogging: Breaking It Down

It's been said that an incredible 79% of shoppers spend half of their shopping time researching products on the internet. While it's true that product pages, technical specifications sheets, and other resources are important, users are also gravitating towards something much more human and valuable - blogs.

Think about the things that the right blog allows you to accomplish. First, it lets you dive deeper into certain topics, products, and services more than you ever could on a traditional product page.

Blogging is also a great way to position yourself as a thought leader in your industry, regardless of what that industry happens to be. It's a chance for you to show that you really can walk the walk in addition to talking the talk, which ultimately helps build brand loyalty over the long-term.

Blogging, in general, also has a number of clear advantages over other forms of communication when it comes to engaging with your audience, as illustrated by these stats:

• According to The West Program, 77% of all internet users said that they actively read blogs on a regular basis.


• Worldwide, an estimated 346 million people read blogs. The fact that your website has one allows you to attract as many of these people as possible.


• Most importantly, a whopping 61% of all online consumers in the United States said that they had made at least one purchase based on information they read on a blog.

An Easy Way to Expand Your Reach

Remember, your blog is not a silo. The content that begins on your blog will ultimately make its way across social media as your users begin to share it, thus bringing more people back to your website over time.

Blogging can also help tremendously with SEO and search engine visibility. One of the factors that Google's algorithm looks for when determining rankings comes down to how often a website is updated. If you publish one high-quality piece of content to your site every day, guess what? That counts.

Nobody is saying that blogging is the ONLY technique you should be using to connect with your audience. In truth, your long-term success will come down to you employing as many techniques as you can in order to further your quest of reaching the right people at the right point in their purchasing journey.

Millennials Hate your Marketing -- Here's Why (and what you can do about it)

You've done it! You researched the young adult market, identified their buying power, and now that "just for millennials" campaign has launched and you're waiting for the leads to roll in. But instead, nothing happens.

What's behind the lack of attention and response from this coveted age group? Adults under the age of 30 make up about 1.4% of the U.S. population and pack about 1.3 trillion in buying power domestically. This massive market is made up of savvy consumers who are digital natives and who are very aware of marketing and advertising.

So, why aren't they paying attention to your marketing? It could be one of these three reasons.

You Treat Them as an Afterthought

It's a common misconception that millennials, particularly young ones, don't have the money to buy things or that they waste their money on the wrong things, like avocado toast and pumpkin spice lattes. The problem with this approach is that brands who see these young adults in this way tend to promote the most heavily discounted or bottom of the line products using cost-conscious gimmicks.

Both entry-level products and marketing gimmicks drive millennials away. These savvy users what the newest, the latest and the best, and they can pay for it. Don't assume your youngest targets can't afford your best or most recent models. If they are truly captivated with your brand, they'll find a way. Offer your best products and your most innovative lineup to this group and if they like what you have to share, they'll keep coming back for more.

You Roll out a "Millennial" Product

You may call it that internally, but labeling your product as a millennial offering is a sure way to drive young adults away from it. Promote it that way on social media and you could get a lot of attention - in a negative way. That innate disapproval of marketing means that millennials are going to be suspicious of any product that announces itself as aimed at them (and could even mock it relentlessly online). You can target millennials with a campaign, approach, or product, but don't overtly mention it in your materials to avoid a backlash.

You're Not Social

If you're dabbling in social media because you are supposed to, but not truly interacting, you're likely driving away the very consumers you want to attract. Millennials are social media savvy and use channels regularly for entertainment, engagement, and social chatter. A steady stream of promotion is going to drive these coveted young adults away. Instead, pull back on the promotions and truly engage.

If you have an employee who already loves social media, this might be the right person to have monitor and post, even if they are not officially on your marketing team. Social media channels that speak to and "get" millennials can lead to huge brand success, while a mismatch in your messaging can cause millennials to see your brand as out of touch or irrelevant.

Harnessing the power of this massive demographic is well worth the effort, but the first step is ensuring that your current messaging isn't driving your young adult targets away from your brand. Taking the time to learn how millennials spend money, what matters to them, and even why they love engagement so much can help you tailor your efforts to resonate with this coveted group.

Boost Happiness Without Stress: How to Stop Multitasking

Have you ever felt as though you're not as productive as you'd like to be, even when it seems as though you're working all the time? Perhaps the problem is not the number of hours that you're working, but instead, the focus that you're bringing to each particular task. Studies have shown that multitasking can be incredibly bad for our brains, and is truly a way of doing more things incompetently instead of getting more done! If you're always checking Facebook, waiting for your email inbox to ding like one of Pavlov's dogs, or getting interrupted by physical visitors at your desk, you're not going to be as effective and efficient as you'd like to be. The outcome? More stress -- and that's something we can all do without!

Your Brain on Multitasking

Did you know that your brain is incapable of multitasking? It's true, and what your brain is doing when you think you're ultra-productive is pinging back and forth between tasks at a high rate of speed. The problem is that things often get lost in translation or fall between the cracks of our mental map, making it tough to figure out where we were in a task we abandoned a few minutes before. This "epidemic of distraction" (as some researchers label multitasking) is incredibly prevalent in modern society and starts at a very young age. The cognitive overload that we suffer as a result of multitasking can cause headaches, poor sleep, a feeling of being overwhelmed, and even depression.

Dangers of Multitasking

It's not too strong of a word to say that multitasking is dangerous to our brain because it is. This negative practice has been shown to decrease creativity and cognitive control, and lead to serious memory problems. The more you include multitasking in your daily work, the more likely you are to become distracted easily over a longer period. Think about it: if you're training your brain to be looking for the next distraction constantly, then are you likely to be able to focus well on one task? Probably not. Even something as seemingly simple as glancing at your phone as you're stepping off a curb can be dangerous to your health for a variety of reasons. If you're fortunate enough to be out of the way of oncoming traffic, your gait may be affected by your distraction causing a serious fall on the unstable or uneven ground.

Practicing Mindfulness

One of the best ways to overcome a tendency to multitask is to create mental space for yourself to focus on one task at a time, also known as mindfulness. Try stopping yourself when you start to become distracted. Put away everything else on your desk or computer, close programs (don't minimize them!), and create a space for yourself to think and to breathe.

Don't let yourself fall into the trap of feeling like you need to work at double speed -- and multitask -- to get everything done. Instead, take a break and focus on getting the most out of each busy day. When you're able to concentrate on one task at a time, you'll find that you're getting a lot more done and staying calmer in the long run.

How to Inspire Those Around You Like the True Leader You Were Meant to Be

Even business professionals with the best of intentions often make the mistake of assuming that solid leadership is about one thing and one thing only: delegating responsibility. You've worked hard your whole life and you've ascended through the ranks - now is the time when people should start listening to what you have to say, right?

Yes, but not in the way you think.

You're the Inspiration

In truth, employees shouldn't be doing what you say just because you're the one saying it. They should be following your guidance because they want to, they're inspired to, and if given the opportunity, they'd be steering that proverbial ship in the same direction that you've chosen. To get there, though, you're going to have to do more than just bark orders. You're going to have to inspire. Here are a few key things to keep in mind when trying to inspire others.

Leaders Who Inspire Support Their Employees in More Ways Than One

One of the most common traits among leaders who inspire their workforce is that they tend to support their employees, both personally and professionally. After all, everyone wants to have meaning in their lives and wants to be encouraged to follow their passions.

To help support this, you need to create an environment where learning is encouraged and where everyone feels like you have your own personal interest in their success. You need to be a leader that fosters development - someone who looks for and utilizes every opportunity for a person to take a positive step forward. Doing this won't just inspire pride in one's work, it'll go a long way towards inspiring loyalty, too.

Inspirational Leaders Set the Tone

Another essential trait that you'll need to focus on to both inspire those around you and to become the true leader you were meant to be is to lead by example. This goes far beyond just "treat others how you want to be treated." You need to show that you're willing to do what you want others to do, too. Never ask someone to do something that you would never be willing to do yourself. Don't be afraid to get in there and get your hands dirty, so to speak. If you want your team to put in long hours and work hard on that next big project, you have to put your money where your mouth is and show that you're ready and willing to do the same.

Inspirational Leaders Value Trust Above All Else

A truly inspirational leader knows that human beings are exactly that - human. The road to success isn't going to be an easy one and if you aren't willing to trust the employees around you, they will soon recede into their comfort zone. They'll quickly start to feel like the risk of stepping outside that box isn't worth it and that the environment they're spending so much time in just doesn't support them in doing so anyway.

By trusting your employees (and being willing to accept that not every challenge is a simple one to overcome), you're creating a situation where people are more willing to take on challenges and risk any failures that come their way. You need to show people that even if something goes wrong, you believe in them and that you have their back. You need to make them believe that even when they have a setback, you'll still be by their side, urging them to move forward. Rest assured, at that point, they will.

Why Patience is One of the Most Important Qualities a Leader Can Have

The chasm between a leader and a great leader is a deep one. It is one that is often filled with qualities like clarity, decisiveness, courage, passion, and a healthy amount of humility given the circumstances.

But one of the major qualities that is essential to leadership that people don't talk about nearly enough is patience. When patience is practiced wisely, it can have a dramatic effect on your entire organization from the top down.

The Ripple Effect of Patience

In general, patience is more important than just being willing to wait for results. Yes, all people are different and employees need to be given room to move at their own pace for the sake of quality. But, the true benefit of patience runs much deeper.

First and foremost, patience shows respect in a way that also encourages productivity at the same time. If you're the type of leader who delegates responsibility but then spends hours each day telling people to "hurry up" or to "get things moving," ultimately all you're really doing is creating frustration or fear in an environment where you can afford neither.

Being willing to wait for someone to work at their own pace shows an employee that you value their overall contribution to the larger organization. You didn't just choose any person for this job; you chose the right person for the right job. Sometimes, that takes a little more time than you'd like, but that is perfectly fine. Patience is also an important acknowledgment that every person progresses at a different pace. If you're up in arms every time someone takes a little more time to complete a task, what you're doing is communicating that they're not as good as someone else when given the same responsibility.

Patience Also Says a Lot About You, Too

Being patient with others isn't just about your employees - it also speaks volumes about you. When you're constantly working from a place of "I needed this yesterday," all you're doing is artificially inflating the stakes of the business you're trying to run. You're not making considerate decisions; you're making ones fueled by little more than raw emotion and a ticking clock.

Patience shows that you're the type of leader willing to stop and let things breathe for a moment. It shows that you're willing to listen and consider all variables before making a thoughtful judgment about what to do next. It shows that you're not the type of person to make snap decisions that you'll later regret and that your employees shouldn't be willing to settle for that, either.

These are just a few of the many reasons why patience is one of the most important qualities a leader can have. It's also important to remember that you need to be patient with yourself. Patience is a virtue, yes, but it's also something of a discipline. You'll need to acknowledge the importance of patience and the role it plays in your business so that you can grow into the type of leader who no longer has to make an effort to be patient with others. Instead, it will become an afterthought.

Wish You Were More Productive? Try These 3 Tips!

Being productive means making room for the things you really want and uncovering new and innovative ways to work smarter, not harder. Thankfully, it's a lot easier than you probably think it is. If you want to become more productive, here are a few key traits you should focus on.

Take Frequent Breaks to Recharge Yourself

Although this may seem a bit on the counterintuitive side, studies have shown that taking frequent breaks throughout the day help to recharge yourself. Our "biological clock" has two basic forms that are dictated by our natural twenty-four (circadian) rhythms and our shorter than a day, but longer than an hour (ultradian) rhythms. Our ultradian rhythms essentially function in 90-minute intervals. This is why it's so easy to go from "firing all cylinders" to "boy I need a nap" and back again throughout the course of your work day.

Remember that managing your time and managing your energy are not mutually exclusive. Taking breaks will help get you over the hump and allow you to come back better and stronger than ever.

The Results Are All That Matters

In a piece originally published by Forbes on how to be a more productive manager, it stated how one of the key traits to focus on is leaning into the results, not the process. One of the reasons why we often feel overwhelmed at work is because we're just not getting the results we're after with a particular task. This causes our productivity (and as a result, our morale) to take a nosedive.

Because of this, it's important to make your number one priority a high-quality, consistent, and reliable output, rather than simply trying to do as many things at the same time as possible.

Discipline, Discipline, Discipline

According to the experts at PsychCentral.com, one of the essential things that you can do to become more productive at work is to maintain a strict sense of self-discipline at all times. Highly productive people aren't just able to eliminate tasks that are ultimately time-wasters - they also have a high degree of personal responsibility and are constantly looking for ways to improve themselves, both of which fall back under the distinct umbrella of discipline.

Hitting goals, meeting deadlines, fulfilling promises - these are the true goals behind that task you're trying to find the time to accomplish. Maintaining focus on these through strict self-discipline is the perfect way to suddenly find more time in each day.

These are just a few of the key traits that you can focus on to instantly become more productive at work. This was the good news - the better news is that gains like these in your professional life will undoubtedly have a ripple effect on your personal life, too. You'll be happier at home, and you'll have more time to spend with your loved ones. It really is a win-win situation.

Your Willingness to Accept Feedback Will Affect All Areas Of Your Business

Many people make the mistake of assuming that feedback automatically equates to complaining. After all, people tend to not speak up about issues unless the topic reaches a boiling point, right? In reality, feedback doesn't have to be like this at all. When given properly, feedback is constructive and can help to both reinforce what you're doing right and pinpoint what you may be doing wrong.

No one is immune from the concept of feedback because no one is perfect. When you learn to accept feedback (regardless of where it is coming from or how positive or negative it may be) it will have a dramatic effect on all areas of your business.

Accepting Feedback Helps Employees Feel Engaged

A willingness to accept feedback has a direct relationship with something all business leaders should be concerned about: employee engagement. Feedback goes beyond open and honest communication and enters into a realm where employees are free to speak their minds when they feel it is necessary to do so.

If employees don't feel like they can come to you with issues they see as essential, it can have a negative effect on your entire business. According to one study conducted by Execu-Search, 42 percent of all employees feel like company leadership does NOT contribute to a positive company culture. This goes a long way towards explaining why, according to a Gallup study, 51 percent of the U.S. workforce is not engaged.

The most alarming statistic of all is that these types of disengaged employees cost businesses between $450 billion and $550 billion annually. As a leader, this is the type of situation that you're creating for yourself by being unwilling to accept feedback from those around you. Even if you don't agree with something that an employee has to say, just the fact that you're willing to listen to them goes a long way towards keeping morale (and company culture) as strong as it can be.

Feedback Acknowledges the Importance of Continued Learning

Feedback is also critical to the modern business for the simple reason that it sets the tone for everything that comes next. It's less about your willingness to listen and more about showing that you're always looking for ways to improve, to do better, to make stronger decisions, and to increase your performance.

Luckily, it isn't hard to accept feedback at all, and you get can plenty of practice because it's around us all the time. Every time you're talking to an employee, or a customer, or a vendor, you're getting feedback. Going out of your way to hear it can help make employees feel more valued, which in turn motivates them to work harder. It can also make your customers feel more valued, which strengthens your long-term relationships.

This type of actionable information is crucial for you to make stronger, more informed decisions in your position moving forward. Going out of your way to get constant, honest, and (yes, sometimes) raw feedback helps make sure that your actions are aligned with the goals of your business.

The Art of Time-Blocking: A Simple Tip to Revolutionize Your Productivity

Most people just aren't that good at multitasking. Trying to remain focused (and organized) is one of the most significant time wasters, especially in the life of a business professional. When you try to do too many things at the same time, you become a "Jack of all Trades, Master of None." Just when you're trying to get work done on that big project, another email comes in that you have to respond to. You hop over to your email client and suddenly the phone is ringing, or you realize that you have to proof a new design before it heads out the door. It's maddening.

Thankfully, there is a better way. By adopting the fine art of time-blocking, you may have just found the simple, yet effective technique you've been looking for to unlock a bold new era of productivity in both your personal and professional life.

What is Time-Blocking?

At its core, time-blocking is the idea that you should segment your day into clearly defined (and strictly adhered to) blocks of productivity. Organize the tasks you need to complete by category and set aside a specific amount of time for those categories each day.

If you feel like you're spending an unfortunate amount of time responding to emails every day at the expense of everything else, set aside 9:00 am to 10:00 am every morning to just focus on emails. Devote every ounce of your attention to this one task and when it's over, move onto the next one. Outside of the occasional emergency, don't respond to emails for the rest of the day. Get it done, and then move on.

The Benefits

The beauty of time-blocking falls into two distinct categories. First, it's an incredibly effective way to eliminate distraction. Instead of trying to divide your attention between ten little tasks, it's almost like you're tackling just one big one (i.e. emails, and nothing more). Not only do you get those initial tasks done faster, but the ultimate quality of your output is also much higher because you're no longer trying to do too many things at once.

Next, time-blocking is also an excellent way to build up a strong sense of momentum that will carry you through the rest of your day. As you begin to move from block to block, you'll constantly be surprised by just how much you're getting done. This wave of productivity (not to mention the wave of euphoria) builds on itself, driving things home towards the finish line (and the end of the work day).

Success Comes When You Look Ahead

Another one of the keys to success regarding time-blocking is a little bit of forward thinking. This isn't something you can make up on the fly. You need to consider the types of tasks you need to do each day and what you have to get done by week's end. Look ahead a little bit and make a list of your top priorities. Then, separate those into categories and get down to business.

Remember, it's important to be honest with yourself. Time-blocking won't suddenly create an extra hour in your day, but it will help you make better use of the hours you already have. If you try to add too many things to your list to the point where it becomes unrealistic, you'll end up working against your goal and not towards it. You'll quickly begin to feel overwhelmed, which is something that you do not want.

The One-Trick Pony Syndrome

Have you ever heard the phrase, "a one-trick pony?"

Researchers believe the "one-trick pony" phrase comes from an entertainment background. According to research, the earliest reference was associated with circus ponies used to perform a trick or feat that impressed audiences. The ponies involved could do an amazing act, such as walking on their hind feet, but that was all they could do. Eventually, the audiences got bored with the show. In one version of the story, a pony had a dog partner that would ride on it. While the audience got sick of seeing the pony do the same thing every time the circus was in town, the dog gained fame because it learned and began to perform new tricks. In time, the dog became the star, and the pony was relegated to hauling circus carts.

Is Your Business A One-Trick Pony?

The moral of the story here is not to allow your business to get stuck on only one good thing. It's tempting to think that if you have something good going, why ruin it? Well, over time that good thing will become less and less popular. The number of customers who want it will diminish and the business will have to start cutting prices to keep it attractive. Eventually, the product or service won't sell at all.

Palm PDAs and Blackberry were both perfect examples of the one-trick pony mistake. They both had a really good product for a while, but both companies failed to upgrade and develop new products. Eventually, someone else did, and their customer base walked away. Those text screens on a Blackberry and similarly on a Palm PDA simply looked old and obsolete versus smartphones like the original Apple iPhone. The world had changed.

It's Time to Diversify

Is your business riding the wave right now of a star pony? If so, now is the time to be looking for and generating a new path. Diversify into a new product or new service. Not only does it protect your business' longevity, but multiple revenue streams from different customers will eventually offset each other when one of them starts to weaken.

Companies that map out their product/service life cycle and plan for eventual loss with replacement "ponies" are the firms that survive and grow. Don't let all your energy, money, time, and effort go down the drain with a one-trick pony. Instead, use the initial success to be your springboard for the next one.