Most business growth initiatives fail. Research from Chris Zook, a Bain & Company consultant, indicates only 25% of growth initiatives succeed. The analysis reveals too many companies fail to grow because their growth strategies are not connected enough to their core business. According to Zook, businesses can greatly improve their growth initiatives when they focus their efforts on one of six adjacencies.
A few weeks ago I talked to a roomful of marketers and operators at the Florida Restaurant and Lodging Association Summit. I delivered a version of my GRANDE GROWTH presentation that shares the importance of small businesses needing to look bigger and big businesses needing to act smaller in order to find long-lasting success.
Chris Zook has done it again. He’s written another smart book on business growth. This time, Chris and James Allen turn their attention to the importance of maintaining the business soul that the founder instilled when the business began in
The headline is misleading. Branding isn’t easy but it can be made easy. How? By being simple. Yes, simple.
“Before people buy from you, they’ve got to buy into you.” — Chuck D
According to US Census data, the total amount of retail dollars Americans are expected to spend this year is approximately $4.5T. That’s $4.5 trillion retail dollars spent in physical places (stores, restaurants, etc.) and in digital spaces (online, mobile, etc.).
Businesses have a choice in how they treat employees to make profits. They can choose the low road by offering employees low wages, basic benefits and uninspiring, menial job responsibilities. Or, they can choose the high road by offering employees a living wage, better benefits and a job that motivates them to do great work. Unfortunately, too many businesses choose the low road.
Conscious Capitalism is a relatively new concept of doing business by leading with empathy, not authority. Sadly, too many businesses are led by fear and stress where bosses lead with fear and inflict stress on employees to get stuff done.
Starbucks marketers use a six-point unwritten code to ensure the marketing programs they create and implement are authentic, that they’re staying on message and on brand, and that they tell the story of what makes the product they are promoting Starbucks-worthy.
A core belief in our PASSION CONVERSATION book is the need to rewire a marketer’s brain to appreciate creating opportunities (online and offline) for the customers you serve to share their own stories. A lot of good can come out of encouraging people to talk about themselves, their lives, their hopes, and their accomplishments.