The Donald Cooper Corporation Newsletter
Volume 3, Issue 1 - January 2004
 Greetings !
If this is your first time receiving our Newsletter, "Welcome"!! We post all articles from past newsletters on our website in the Free Articles section. For your convenience, these articles are available by category.
1. Here's a fundamental decision that you must make in your business!
(time to read this article is about 70 seconds)
For a printable version of this article, click here.
Every business, large or small, needs to address one fundamental question...and most never do! The question is, "In our target market, for our chosen customers, are we going to be the cheapest...or not be the cheapest?"
Why is this question so important? Because everything you do in your business will depend on your answer. Where you're located; what you sell; how you present it; the staff you hire; how you train them and how you pay them; the policies and processes that you put in place and your advertising and promotion will all depend on how you answer this one simple question.
If your decision is to be the cheapest, just about everything you do must be focused on low overhead, cost control, maximizing inventory turns, world-class operational efficiency and effectively communicating your powerful "lowest price" message to a saturated and cynical public. The rallying cry of your business will be, "Let us save you some valuable time. We are the cheapest and here's how we do it!"
Just about everyone says that they're the cheapest these days so, if you don't tell your target customers, in a believable way, "how you do it", they'll never believe you.
Wal-Mart, Costco and Southwest Airlines are great examples of companies that have succeeded wonderfully at "being the cheapest". They're cheap, they're efficient...and they make money!
On the other hand, if your decision is not to be the cheapest, you must still be highly efficient, but you must also be passionately focused on delivering enough functional and emotional value to easily explain the price difference between you and whoever is the cheapest. And then, you must effectively communicate that value in a way that clearly differentiates you from "the cheapest".
In this case, the rallying cry of your business, and the focus of your advertising will be, "We may as well tell you right now, we're NOT the cheapest...and here's why." Your "here's whys" will be the compelling functional and emotional value that you deliver that make you worth the extra money.
So, if you're not the cheapest, what are your clear and compelling "here's whys"; your added functional and emotional value that "grabs" your customers and clearly differentiates you from your competitors? Because, if you don't have any compelling "here's whys", you had just better be the cheapest!
2. Two powerful business tools are now available on our website...FREE!
(time to read this section is about 40 seconds)
When we listen to our staff, two wonderful things happen. First, we learn from them and, second, we honor them. And, of course, when we don't listen to our staff two things also happen...we do not learn from them...and we dishonor them.
When I ask clients about what they're doing to get valuable ideas and feedback from each and every one of their staff, they tell me that they know it's important and they're going to get around to doing it some day. Well, "some day" is now because we've done the work for you!
We're making it easy. On our website, right now, we offer two powerful FREE tools that will help you listen to, learn from and honor your staff. The links below require Adobe Acrobat Reader, which can be downloaded free here.
Tool #1: "7 Questions to Ask Your Staff That Could Change Your Business Forever!"
Click here to download Tool #1:
Tool #2: "How & Why to Do a Skills Inventory of Your Staff!"
Click here to download Tool #2:
Both of these tools come with "How To" instructions and are formatted to be printed on your letterhead for distribution to each of your staff. It couldn't be easier than this! If you have any questions about how to download or implement them, just call us at 416-252-3704.
3. How much quality is enough in your business?
(time to read this article is about 75 seconds)
For a printable version of this article, click here.
"QUALITY" is one of those words that's thrown around in business today without ever properly defining it. And, just like those other famous words, "Service" and "Value", if you can't define it you can't deliver it, because you don't know what the hell it is.
Since people buy things for one reason only... to make some of their physical or emotional stress go away, clearly, "enough" quality is the amount of quality required to remove your target customers' physical or emotional stress. Any amount of quality that you deliver over and above that is simply a waste of time and money.
Recently, someone tried to sell me new "high quality" shingles for our cottage roof that were three times the price of regular shingles. "But they'll last 40 years!" I was told. I'm 62 for God's sake! What do I care? Twenty-year shingles make my stress go away just fine.
Rolex offers a "quality" dive watch for $6000 that's waterproof to a depth of 4000 feet. I'm a scuba diver and what I know is that the average dive is 40 to 80 feet...and you're pretty much dead at 200 feet. So, that extra 3800 feet of "waterproofness" would seem to be a level of quality that's hugely expensive and has no functional value.
But, since Rolex sells lots of these $6000 watches, being waterproof to 4000 feet must have some great compelling emotional value to a whole bunch of folks with a lot of money on their hands.
Back in our sporting goods manufacturing days at Cooper Canada, we sold 2000 pairs of our top professional, hand-sewn hockey goal pads every year...at $800 a pair. We sold 50 pairs a year to players who needed that level of quality and 1950 pairs to players who simply wanted that quality. Clearly, quality delivers both functional and emotional value!
Generally, the more quality you deliver, the higher your costs. So, in your business, when deciding how much quality it makes sense to deliver, just remember this. If it delivers a level of functional or emotional value that your customers are prepared to pay for, it's a good investment. If not...forget it!
4. We can help you with the two biggest problems in your business!
(time to read this section is about 90 seconds)
The two biggest challenges facing every business in the world today, including yours, are simply this...
1) How to attract and keep more loyal and profitable customers...and,
2) How to attract, lead and keep the best staff at every level of your organization.
Here's how we can help. Last month we launched our incredible new 3 hour Video Workshop on..."Human Marketing...how to Increase Market Share & Profitability in the Face of Ever-stronger Competition!"
Together with its detailed Implementation Guide, this $80 investment can transform your business! First, we coach you on how to set up a small task force of your best people (if you're a one person business, you are the task force) and then we guide you through a series of insights and processes that will create compelling customer-owning value in your business! Value that will "grab" your customers, clearly differentiate you from your competitors and grow your bottom line!
Companies cheerfully pay me $8000, plus expenses, to deliver this program live. So at 80 bucks (on your choice of CD video or DVD format) what could possibly be holding you back? To order, click here to go to our online store, or read on for a special offer!
Now, what about that #2 problem...finding, leading and keeping the best staff? Not having the right people on your team carries a huge cost in lost business, inefficiency, frustration and missed opportunity! Finding, leading and keeping great staff is far too important to leave to chance. So here are two solutions...
#1) Just released is our "The 8 Essential Steps to Finding & Keeping the Best Staff!" 90-minute DVD Seminar, with step-by-step Implementation Guide, for only $60.
#2) And, available February 10th is..."The Simple Truth About Effective Business Leadership!" Surveys indicate that up to 50% of lost efficiency in any business is caused by ineffective leadership.
This 90-minute DVD Seminar is not about personality based or charismatic leadership. It's not about standing up and "rallying the troops" with a punchy speech. What it is about is an effective 10-step "process" of leadership that will help you make the difficult but essential transition from "doing" to "leading"...from being a "player", to being an effective "coach". With a step-by-step Implementation Guide this DVD Seminar is real value at $60.
Everybody loves a deal, so here's the deal...If you order the "Human Marketing" Video Workshop and "The 8 Essential Steps to Finding & Keeping the Best Staff" Seminar for a total of $140, before March 1st, 2004 we'll include the $60 "The Simple Truth About Effective Business Leadership" Seminar for FREE...and we'll pay the shipping!
To order these individually, or to get this limited time "solve your two biggest problems package", simply complete your order for these three products on using our online store (click here to order now) and we'll adjust the cost of your order upon receipt.
NOTE: If you've already bought the "Human Marketing" Video Workshop and you now order the "8 Essential Steps" just call (416-252-3704) or email Sharen Skene and tell us that and we'll include the Leadership Video for FREE.
5. Do you have "Brand Busters" in your business?
(time to read this article is about 50 seconds)
For a printable version of this article, click here.
A few months ago I stayed in a hotel that had recently been taken over by an excellent one of Canada's finest hotel chains. In fact, one of the wonderful highlights of 2003 was a four-day stay in one of their hotels. The location, the architecture, the rooms, the food, the staff, and the service were extraordinary and uplifting!
But, back to the "recently taken over" hotel. It was dark, cold-feeling, shabby and oppressive. The staff, perhaps cheered by the prospect of better things to come, tried to make up for the tired, depressing surroundings, but they just couldn't pull it off. This hotel is what I call a "Brand Buster"!
Knowing this fine company, I'm sure that they'll eventually invest a lot of money to fix that place up. But in the meantime, it's damaging their Brand one visitor at a time. And with the low ceilings, cold exposed concrete and bad lighting, they may never be able to get it to a point where it honors their Brand.
A "Brand" is a promise to deliver a consistent set of qualities, standards, values and experiences. When you break the promise, you damage, or "bust" the Brand.
Every product, service or location we offer, every policy we create, every price we set, every action we take either honors and builds our Brand...or it damages our Brand. Nothing leaves our Brand neutral.
Take a hard look at your business. What products, services, locations, policies, prices, actions or inactions might be "busting" your Brand...and what will you do to fix them?
6. Act now and create dozens of marketing breakthroughs and service innovations in your business for only $25!
(time to read this section 40 seconds)
If you can't afford the new DVD Seminars described in Section #4 above, there's still hope!
As we complete the transition to the new DVD Seminars on marketing, management and leadership we still have small quantities of the previous Human Marketing Audio Cassette and Video Seminars (VHS format) available. So, we're reducing their price to a paltry $25 to move them out.
These are not "dogs"! Thousands of companies throughout the world have used them to redefine and reinvent themselves to create marketing breakthroughs and customer-owning service innovations. But we have the new DVD's coming so here's the deal...
Special Deal #1: The Human Marketing 4-1/2 hour Audio Cassette Seminar, that many folks have said is one of the three or four best marketing and service tapes ever created, was a great deal at $40...and now is a "steal" at only $25. The most we ever sold to one client was 2500 pieces. He bought one for each of his staff! Note: So that there's no confusion...this is not a CD. It plays on audio cassette players.
Special Deal #2: Our Human Marketing 2-1/2 hour VHS Video Seminar that so many companies have used to guide them through a process of redefining and reinventing their value and their business was $60...and is now only $25.
Taxes (if any) plus $5.00 for shipping will be added...but it's still a hell of a deal! We don't have too many left and when they're gone, they're gone! To order, simply click here to visit our online store.
Any questions, email Sharen Skene or call 416-252-3704.
7. Bits & Pieces:
(time to read this section is about 60 seconds)
1) Lessons from a guy on a ladder! I recently got into a philosophical discussion about the secret to creating an extraordinary life with a wonderful gentleman who was up on a ladder repairing our kitchen ceiling. Douglas came to this country with nothing and works doing home renovations while studying both philosophy and social sciences at university. He is full of more joy and wisdom than you would normally expect from a guy on a ladder in your kitchen.
Here is his simple formula for an extraordinary life, "Live every day as if it's your last... and plan for the future as if you'll live forever!" I love it!
2) Lessons from a mouse! I spoke at a Conference at Disney World again last week and was reminded that every business person needs to go there every few years to be reminded of the incredible power of vision, passion, creativity, attention to detail, consistent implementation, constant training, empowerment and creating a brand.
Stay at the Disney Wilderness Resort or The Grand Floridian. Take the monorail. Walk the park, visit Epcot and check out the Wild Animal Kingdom. Then, when you've experienced the magic as a "customer", take the "Backstage Tour" and learn how they do it. As a business person, it's the "how they do it" that really matters. And then, keep asking, "What can we learn from this?" and "What's possible in our business?"
You can write off every penny of this trip because, if you really pay attention, it will be more valuable than any Conference you could ever attend. So, when are you going?
3) More lessons from a mouse! As amazing as Disney is, you can also learn what not to do. They mark up phone calls made from your room by 55% over and above the phone company's charges...and I think that's outrageous! Now, to be fair, they do tell you about this when you're checking in, while most hotels are sneaky about it.
I asked the front desk manager if I was the only person who has complained about these charges and he said, "Oh no...everybody complains!" But, apparently, the mouse doesn't listen. Bad Mickey!
What might you be doing in your business that's ticking your customers off...and what are you doing to fix it?
8. Do the math...the simple truth about making more money in your business!
(time to read this article is about 30 seconds)
For a printable version of this article, click here.
Let's keep it simple...there are only three ways to make more money in your business.
1) First, you can increase your prices. If you can get just 5% more for everything you sell, you'll increase your profit by 60% to 100%, depending on your gross margin.
2) Second, you can increase sales. If you can sell just 5% more stuff, while controlling expenses and margins at current levels, you'll increase your profit by 20% to 50%, depending on your gross margin.
3) Third, you can reduce expenses. Cutting costs by just 5% will increase your bottom line by 20% to 30%.
Don't take my word for it...ask your accountant. And if your accountant doesn't understand it, get a new accountant!
Now just imagine, if you could increase your prices by 5%, then sell 5% more stuff, while reducing your expenses by 5%...you'd wouldn't know what to do with all the money you'd make. It might be tough to do, but it's sure worth a try!
9. On that cheery note...that's all for this month!
"Thanks" for all of your great feedback and suggestions! We especially love to hear of your successes using our insights. Don't forget to visit the Free Articles section on our website for lots more valuable info.
If you know of others anywhere in the world who will find value in this E-Newsletter, we'll appreciate your sending this along to them.
Kindest regards,
Donald Cooper, MBA, HoF
Certified Speaking Professional
Preview a Video Clip of Donald in action!
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