The Donald Cooper March Business Newsletter
Volume 6, Issue 2 - March 2007
Donald's "Quote of the Month"
"We need to get everyone singing from the same hymn sheet."
...my Grandma Cooper |
"Greetings", my apologies for not getting out a February Newsletter. It was our busiest February ever with never-ending speeches back and forth across the continent. This month I'm in Australia twice and New Zealand for a week...and Vancouver twice. So, this is coming to you from somewhere over the Pacific.
We have timely, thought-provoking articles on creating a clear and profitable direction for your business, delivering your "Brand Promise", managing your people and growing your bottom line...all of which will take about 9 minutes to read.
Other versions of this Newsletter: PDF
1. Is everyone in your business "singing from the same hymn sheet"?
(time to read this article is about 90 seconds)
When we're kids, our grandmothers are a great source of warm cookies, wonderful hugs and, if we're lucky, wise sayings that will guide us for a lifetime. In my family, when we weren't communicating effectively and things weren't getting done as they should, grandma Cooper would say, "We need to get everyone singing from the same hymn sheet."
Grandma never ran a business, but she sure got that one right. As I work with businesses, large and small, to create clarity of purpose, direction, focus and accountability, grandma's words constantly ring in my ears.
Whether your business is large, small, or just starting out, your first job as a leader or manager is to create clarity about the value you commit to deliver, where the business is going, how it will get there and how you'll behave along the way. Frankly, most businesses don't have that kind of clarity...and it's killing them!
Imagine a business in which the people in charge are focused on and constantly working to develop clarity about...
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The compelling value and experience that the business commits to deliver to every customer, every day...and what that value and experience must look like in 3 to 5 years to be competitive and profitable. Value and experiences that will "grab" your target customers, differentiate you from your competitors, make you "famous" and grow your bottom line. |
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What the business commits to become in 3 to 5 years, including... |
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how big it will be. |
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the bottom line that it will generate. |
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where it will do business, including where it will buy, sell or produce. |
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what the business model will be and how the organization will be structured. |
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the values it will live by, |
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the technology that will drive it. |
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what the organization will need to learn and the talent it will need. |
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how it will communicate with customers and prospects as a group...and as individuals. |
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who its competitors will be and what their compelling value will likely be. |
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what % of its growth will come from the organic growth of what it's doing now...and what % must come from new products or services, new locations, new markets or acquisitions. |
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what will the working capital requirements be, how much of that will come from operations, how much from outside...and from where? |
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the processes, systems and training that will be required to make all of this happen. |
Then, imagine that this business is so well run that it attracts and keeps the very best people in the industry. And, because its leaders have clarity of purpose and direction, everyone on the team knows exactly what the business stands for, what it commits to deliver and what it commits to become...and they're all passionate to help make that happen! Imagine also that this is a business where success is celebrated and rewarded...and non-performance is dealt with.
Finally, imagine that this business gives back to the communities in which it does business and is respectful of the planet on which we all journey. Imagine the incredible power of that level of clarity and commitment. My guess is that nobody could beat them.
This, in a nutshell, is the function of leadership. Realistically, how close is your business to this extraordinary level of clarity and commitment? Is everyone in your business "singing from the same hymn sheet"? Is there even a "hymn sheet" to sing from...and, if not, what needs to be done to make that happen?
Note: If your business needs help to create the kind of clarity, focus, commitment and improved profitability that I'm talking about in this article, be sure to read the short piece below about my cost-effective solution.
2. My transformational 2-Day Management "Boot Camps" are coming to a number of Canadian cities in the next few months.
(time to read this section is about 40 seconds)
Here's the line-up...
Calgary, AB - April 12 & 13 Winnipeg, MB - May 7 & 8
Edmonton, AB - April 23 & 24 Toronto, ON - May 14 & 15
Vancouver, BC - April 26 & 27 Saskatoon, SK - May 28 & 29
Montreal, PQ - May 1 & 2
Note: If you live in some other part of the world, and would like to chat about how we can bring a 2-day transformational Donald Cooper Management Boot Camp to your area, just email Sharen at sharen@donaldcooper.com. |
Why did we create these extraordinary and intensive 2-day events? It's simple...every year, hundreds of business owners and managers ask me to work with them, and their management team for just a few days to help them rethink, refocus and re-energize their business.
The problem is that many of these businesses simply can't afford my regular fee. So, we've created this innovative "shared" Management Boot Camp format that's an incredible "win-win". Simply put, a small group of businesses "share" me for the 2 days and save a bundle!
Here's a direct quote from one company President who brought his team to one of these extraordinary events...
"Donald's management 'Boot Camp' has delivered the best take-away value of any program that we've attended. He delivers effective tools that will have a profound impact on any business."
3. An important business lesson from 3500 cheese factories that aren't around any more...and from a few that are:
(time to read this article is about 90 seconds)
Last week I met with the economic development group of a large Canadian municipality that wants me to deliver a full-day Workshop for the business people in their area.
The head of this organization asked me what message of hope I might have for the beleaguered manufacturing sector in his community. I sense that he didn't like my answer.
To quote my late Father, "Being successful in any business today is very much a matter of being an intelligent fugitive! Knowing when to leave one place and move to another. Knowing when your current business model is no longer viable...and having the courage to change it. Knowing when your whole industry is fundamentally changing...and getting ahead of the curve."
For Christmas, my wife bought me an obscure and delightful book about the artisanal and farm made cheeses of Canada that, surprisingly, offers many clear business insights. In the introduction we learn that during the pioneer times of the 1800's there were over 3500 small, local cheese factories in southern Ontario. They were spaced about 5 to 10 miles apart, so there was one in every community.
A little cheese history here: In early times, cheese making was simply a way of preserving the nutritional value of milk before it spoiled and had to be thrown out. And, without refrigeration, that happened very quickly. So, farmers milked their cows, consumed some of that fresh milk themselves, sold what they could to townsfolk in the local area and whatever couldn't be sold immediately was then taken to one of the 3500 nearby small cheese factories.
Because the mode of transportation was horse drawn wagon and there was no refrigeration, the cheese factory had to be nearby...and that's why there was one every 5 to 10 miles. But eventually, two technologies changed the business model and the entire industry. Those two technologies were the internal combustion engine (that made trucks possible) and refrigeration.
Now, refrigerated trucks could transport milk great distances to large, efficient cheese factories and, over time, we've gone from 3500 local, small and inefficient cheese processors in the 1800's to four or five huge operations owned by multinationals, today.
But here's the neat thing. Some niche players have survived and, indeed, thrived. Typically, they're true experts, they're stubborn as hell about quality and they're incredibly passionate. They're serving that small part of the market that's willing to pay more for extraordinary quality and experiences. That part of the market exists in just about every industry from cheese to financial services, from private motor coaches to watches.
So, as technologies and markets change, we all have choices to make. And, that's not new. It has been going on for a few hundred years.
What changes in markets and technologies have fundamentally changed how your industry does business over the past 50 or 100 years...and how did the survivors adapt, innovate and grow? Did what you do even exist 50 years ago? And, if not, who started it...how...and based on what combination of insight, courage and tenacity?
And, what's likely to happen next...and then next after that? What decisions will you make? Will you be an intelligent fugitive? Will you adapt, will you innovate, will you go big...or will you find a profitable and fulfilling niche market that the big guys can't or won't serve?
What could you learn from the 3500 cheese factories that aren't around any more, from the five big ones that are...or from the dozens of small, passionate and wonderful artisanal cheese makers across Canada who are happily doing what they truly love to do?
4. The stupidest Valentine's Day advertising idea ever!
(time to read this section is about 40 seconds)
I'm constantly amazed at how stupid big companies can be. Last month Elizabeth Arden created a special Valentine's Day promotion for its Britney Spears signature fragrance, Midnight Fantasy.
Through the marketing magic of a company called Vari-Talk, consumers could arrange to have Britney send a "personalized" phone message to a friend.
So, according to this brilliant scheme, if for example, you're a guy named Tom and you have a girlfriend named Stacy, you could have sent a very special Valentine's Day message that would sound something like this..."Hey Stacy, what's up? This is Britney Spears. I'm over here with your friend Tom. We're just celebrating the release of my new fragrance, Midnight Fantasy."
Now, have you ever heard of anything so absolutely stupid? This knucklehead Tom is supposed to send his girlfriend a phone message saying that he's over at his house with a trashy singer who forgets to wear underpants "celebrating" some kind of midnight fantasy. Just what girlfriend Stacy wants to hear on Valentine's Day. It's so much more endearing than a simple, "Stacy, you're the only one for me!", don't you think?
I can just picture Stacy heading over to Tom's house with a loaded revolver or a 14-inch kitchen knife. And, trust me, that one always ends badly.
5. This month's special offer:
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Since many of this month's articles are on the subject of leading your business and your market, this month's "Special Offer" is my excellent DVD Video Seminar on...
"The Simple Truth About Effective Business Leadership"
Complete with my step-by-step Implementation Guide, which you will download from our website, this 90 minute video seminar is guaranteed to make you a more effective leader and manager.
Regular price $60. This month's special price ...$30 + $5 for shipping and handling and any applicable taxes. To order, click_this_link.
Bonus: When you order the Leadership DVD Seminar now, I'll include my "Four questions to ask when things aren't going as they should in your business". These 4 simple questions will make you a world-class manager, create clarity, focus and accountability in your business...and help you to deal with non-performance.
6. Bits & Pieces:
(time to read these bits of wisdom is about 90 seconds)
Item #1: Before the 1990s, Mainland China's political system prevented its people from pursuing wealth, and China stagnated under the shackles of Communism. Nonetheless, over 50 million ethnic Chinese people living outside of Mainland China, driven by their entrepreneurial spirit, were able to prosper in places like Hong Kong, Singapore, Taiwan, Canada, the USA and others.
Here's an amazing fact. If those Chinese people living outside of China were a country, their total economic output would be the third largest economy in the world, after the U.S. and Japan. And, in many cases, they have prospered within cultures that were nothing like their own. They did it, usually starting off with nothing, through hard work, adaptability and business smarts.
Now, with the political and economic changes in Mainland China, that same entrepreneurial spirit, dedication and adaptability is springing back to life in the Mainland Chinese. We're only beginning to see the results of this entrepreneurial renaissance.
There are already an estimated 450,000 millionaires in China, measured in US dollars.
Item #2: What's wrong with this picture? Women represent 46% of the workforce in the USA... but hold just 6% of the highest paying jobs in America's 500 largest companies.
Item #3: What is the real cost of oil? Oil has been trading around the $60 a barrel level for some time now but what is the real cost of oil?
If you add up the cost of military action in the Middle East to protect the West's "interests" there, plus the cost of shoring up the regimes of "friendly" oil rich regimes, plus the cost of aid to oil rich countries...then divide that by the amount of oil that we get from those countries, the actual cost of oil is more like $266 a barrel.
Item #4: The Canadian Post Office has recently introduced a very neat program that allows companies or individuals to design their own unique postage stamp.
For example, a bride and groom could create and have Canada Post produce for them a small run of special stamps featuring their wedding picture to be used on envelopes for sending out wedding gift "thank yous".
Or, you could have a special stamp produced with your dog, cat or other pet on it. Real estate agents could have stamps with their picture on it, to match their business cards.
But the bigger question here is how could you use existing and inexpensive technology to customize your products and services for your customers?
Item #5: A great Italian restaurant in the heart of Montreal. After weeks of expensive and often pretentious dining in places like San Francisco and Las Vegas, last month I found myself in a delightful family-style Italian restaurant in downtown Montreal during a blizzard that turned the city into a ghost town.
This restaurant, Santa Lucia, at 1264 Stanley St. near Rene Levesque (514-393-8623), reminded me that a wonderful meal doesn't have to cost a fortune...and that wonderful, heart-warming hospitality often comes in unexpected places.
I had beautiful homemade soup, veal in a mushroom and cognac cream sauce with al dente vegetables and oven roast potatoes, plus dessert for $18.00. I could have had coffee too, if I drank the stuff...which I don't. Compare that with breakfast for two in San Francisco that mysteriously came to $93 and you get the picture. So, if you live in or near Montreal, visit Santa Lucia.
Item #6: Believe it or not, the largest Ford car dealership in the world is in Moscow. And, in some twist of irony, the name of that dealership is New York Motors.
Item #7: In response to our increasing concern about obesity and healthy eating, Krispy Kreme Doughnuts has just launched their new whole-wheat doughnut with only 180 calories. Thank you Krispy Kreme...the world is now officially a better place.
7. Here's a simple exercise that will put you in front of your competitors:
(time to read this article is about 50 seconds)
Many of my clients seem to be oblivious as to what their competitors are doing. They list for me all the wonderful things that they do that their competitors don't. Then I have to break the news to them that they're living in "la-la land". Here's one of the simple process that we work through with clients to give them a clear competitive advantage over their competitors.
First, sit down with a few of the best minds and hearts in your business and list 3 things that each of your major competitors does better than you. It could be in the area of price, or service, customer relationship building, advertising, sales training, "product" selection, technology, reputation or operating efficiency. It could be something as small as free parking ...or something as fundamental as their competitor having a more effective business model. Whatever it is, swallow your pride and write it down.
If you don't know what your competitors do better than you, shame on you. Stop pretending that what your competitors do doesn't matter and find out why they're getting the business or making the profit that you're not.
The next step is to get out in front of them by doing what they do, but doing it even better...or by doing the opposite. Either beat them at their own game...or make up a new game. It's that simple.
8. Our Quiz of the Month:
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Thanks to all of you who answered our January Quiz question, which was..."What wacky business venture did Hooters Restaurants introduce in 2003...and then shut down in 2006?"
The answer is "Hooters Air", a scheduled airline based in Myrtle Beach, Florida. Although they've ceased operations as a scheduled carrier, the fun of flying with the Hooters girls will still be available to charter clients.
Congratulations to Trevor Kowalski of Schulte Industries, this month's winner who selected our "Creating a Winning Culture" DVD Seminar as his prize.
This month's Quiz: Oil is the #1 traded commodity in the world. What commodity is number two? Is it...
1) Copper 2) Uranium 3) Iron ore 4) Wheat 5) Sugar 6) Coffee
Send your guess to Sharen Skene, our wonderful Director of Marketing, at sharen@donaldcooper.com. Each correct answer received within 10 days will go into the 'pot' and one winner will be randomly selected. The winner will receive their choice of any of our excellent DVD Video Seminars worth $60 to $80.
9. Are you a "Toyota" or a "Hyundai"...two different approaches to improving efficiency and quality in your business:
(time to read this article is about 30 seconds)
Toyota and its up-market division, Lexus, are about to become the number one car company in the world by making reliable vehicles that people want. How simple is that? Toyota has invested time and money to constantly improve the way it makes cars in order to improve efficiency and minimize defects. So, briefly stated, their focus has been on making it right in the first place.
Hyundai, on the other hand, improved the quality of its cars, not by improving the manufacturing process, but by stepping up inspection to catch defects and then having them re-worked.
This is two fundamentally different approaches to getting it right. And what is the result? On average, it takes Hyundai 66% more hours to make a car than Toyota.
So, in your business, are you focused on getting it right the first time or are you focused on catching mistakes and then fixing them as best you can? Are you the Toyota or the Hyundai of your industry?
10. That's all for this month:
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"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 our Free Articles section on our website for lots more valuable info on how to sell more, manage smarter and make more money in your business.
Also, let us know what you'd like to hear more about...or less about. And, do send us your stories and examples of great, horrible or just plain bizarre business practices that you find in your travels.
Finally, 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 and inviting them to sign up at www.donaldcooper.com.
Donald Cooper, MBA
Canadian Speaking Professional
Member of the Canadian Speaking Hall of Fame
For information about booking Donald for your company or Association, contact Sharen Skene our wonderful Director of Marketing at Sharen@donaldcooper.com.
Back Issues of our Newsletters are available on our website (along with lots of other valuable articles and implementation tools). | 