(Time to read this Blog is about 2.5 minutes)
Before we get to the main topic, here are a few things to get you thinking or smiling:
- My Biz Quote of the week:
“Customers are loyal to what’s best for them…or what they assume is best for them. What are you doing to be the clear and compelling ‘wise choice’ for your target customers?”
- Flying car doesn’t get off the ground. ‘Kittyhawk’ a secretive, electric flying car start-up, backed by Google co-founder Larry Page, has shut down. Page is reported to have lost $100 million on the project. Boeing also put $450 mil into the project.
- Quick Biz Tip: Be the ‘Caring Coach’:
One of the most powerful ways to differentiate yourself in your over-served and under-differentiated market is to be the ‘Caring Coach’ for your target customers.
Sit down for an hour or so with some of the best minds and hearts on your team and think and feel like a customer. Ask yourself, what are they confused or unclear about? What do they need or want to know to wisely choose and effectively use the products, services or experiences that we sell? What do they fear? What will help them feel confident and special?
Then, use these customer insights to develop extraordinary value and service experiences and relationship-building communication that make you their ‘Caring Coach’.
- Business owners are exiting earlier. A recent survey by The Business Enterprise Institute in the USA shows that more business owners are looking to exit their business earlier than previously.
Is this because managing a business is more demanding, more frustrating and less satisfying than ever before? It could be. But, remember, you can’t just wake up one morning and decide you don’t want to do it any more. It takes 5 to 8 years to plan a proper and profitable exit from your business.
Now, to this week’s important topic:
The 2 sides of the ‘Culture Coin’:
Creating a business culture that attracts, engages, challenges and rewards top performers, while also encouraging world-class operational effectiveness and efficiency, is key to your success. These are what I call the 2 sides of the ‘Culture Coin’.
The 1st side of the ‘coin’ is about creating a culture of clarity, commitment, empowerment, urgency, excellence, efficiency and accountability. This is the ‘world-class operational effectiveness and efficiency’ side of the coin. Lack of clarity and accountability, and failure to deal with non-performance, are three of the biggest problems in many businesses today. See Item #1 above to download my Biz Tool #A-4, ‘Our 1st Job Is Clarity’ to start solving these problems in your business.
The 2nd side of the ‘Culture Coin’ is about creating a human and respectful Culture that nurtures and encourages the talent you need to amaze customers, grow the business and generate a sustainable bottom line. This side of the ‘coin’ is about creating a culture of integrity, learning, opportunity, fairness, diversity, inclusion, empathy, respect, acknowledgement passion and joy.
How would you rate your culture on the ‘effectiveness and efficiency’ side and the ‘human and respectful’ side? Both are critically important. For help in evaluating your culture Click Here to download my Biz Tool #B-18, ’14 Keys to Creating a Winning Culture’, no charge.
That’s it for this week…
Stay safe…live brilliantly!
Donald Cooper speaks and coaches internationally on management, marketing, and profitability. He can be reached by email at firstname.lastname@example.org in Toronto, Canada.