How Much is Your Brand Worth?

A billboard stands on Hwy 360 between Dallas and Fort Worth and it states:

Over 27,000 jobs lost… Over $300 million paid in executive bonuses. (then, a URL to a web site paid for by unions)

These people have picketed, worn buttons and rented this billboard.  Now, they’re using an interactive web site game to skewer their CEO.    NBC5 reported that Transport Workers Union, which represents mechanics, bag handlers and other ground workers at American, announced its latest campaign in the form of American Exec Check.  (check it out!!!)

They state, correctly, that executive pay and bonuses often have nothing to do with company performance.  (Wait a minute… Doesn’t YOUR pay have EVERYTHING to do with your/your business’ performance?)

Now, on April 15, 2009, American announced that its parent AMR Corp. lost $375 million in the first quarter as people flew less this year than they did a year ago, and officials said May and June bookings look like more of the same. (Wow… color me shocked)

Now, aside from the morality/right-vs.-wrong/accounting methodology/contract signed/whatever justification for these bonuses, the point I’m making is about the AA brand.  Everyone already hates the flying experience anyway.  But, all companies need to realize that today customers/employees/prospects have the ultimate loud-speaking system at their fingertips 24/7… the Internet.

Specifically, a blog post, a tweet, a status update, a comment to an article can bring your brand to its knees, sometimes irrevocably, in a matter of minutes.  How much is that bonus REALLY worth, AA Execs?

Thought for the Day & Questions to Ponder

“Make happy those who are near, and those who are far will come.”  Chinese proverb

1.  Have you lost your market position?  If your company was number one 10 years ago and number three now, there may be quite a few things to fix.  Tinkering around the edges won’t get you back to the top spot.  Start by focusing on your best customers (i.e. those who are happy).

2.  Are you dissatisfied with your logo?  Everyone gets tired of their logo at some point, just like we get tired of the same old clothes.  In most cases, you’re best advised to leave it alone (the logo, not the wardrobe).  However, if your logo doesn’t fit who you are anymore, and you don’t quite know why, it’s time to ask yourself exactly what does your company stand for and who are the people it’s talking to the best.

3.  Has there been a change in your business strategy?  Your brand strategy is the “face” of your business strategy.  So, it almost goes without saying that a significant change in corporate strategy should provoke a long, hard look at your brand and the customers’ it reaches.

4.  Has your market changed around you?  New players, new developments (like an economic recession), and new customers in your market change the landscape.  Your brand may be well-positioned to take advantage of emerging circumstances.  Or not.  Time to figure it out. 

 

Blessings, But Busy

So sorry, everyone, that my writings the past couple of weeks have been rather sporadic.  I’m now working with about as many clients as I can about handle on my own… which is indeed a blessing, but carving out time for family, friends, and a personal life of any kind is getting harder and harder.  All I want is sleep, sadly enough.  And, that’s no fun at all.

Therefore, I gladly took the time to read Tim Ferriss’ latest blog this week by a guest poster, Leo Babauta, about “How to Never Forget Anything Again.” Not because I’m really all that forgetful, but because as I read the article, it struck me how much these tools were time savers and “brain dump” organizers.  Which, for me, means more time with Mom, Dad, my trainer, and a glass of wine… less work and more play makes Wendi a FUN girl! 

Quick synopsis:

• Evernote– hold notes, clip web pages, store photos and audio notes, and more. Really cool feature: snap a picture of something on your camera phone, and send it to Evernote … then Evernote will scan the image and you can search for words within the note. This makes sending yourself notes really easy — you can take pictures of business cards, menus, receipts, documents and more … and it’s automatically searchable.
• Jott–  This handy app ties everything together, and is very valuable for when you’re on the go. Just call Jott from your cell phone and leave a message, and it’ll be sent to your email … or to another service you specify.
• OneNote–  This is the default note-taking tool for anyone who uses Microsoft Office, and it’s very powerful. Unfortunately for some of us, it only runs on Windows I believe.
• Backpack / Packrat–  One of the best of many web apps for collecting info, Backpack is versatile and easy to use. You can store notes, text, images, links and more … and send items via email and SMS text messages. It also has a calendar and reminders. For Mac OSX users, there’s also a desktop application, Packrat, that works well with Backpack for off-line needs.

 

Using Twitter for Business

I have to be honest… for all of my love for technology and all things “kinda geeky” when I first heard of Twitter, I just didn’t get it.  And, really, I’m still kinda doubtful, but recently I stumbled upon a blog entry by Richard Brooks, President of flyte new media, in which he gives details on how to use Twitter for business.

Twitter is the inevitable conclusion for a culture fascinated by fame and soundbites… the short attention spans due to an overwhelming amount of data we process on a daily basis.  But, at its heart, Twitter is just a communication tool.  Like the Web and the phone and the telegram before it, it’s just another connective device.

Within this participating audience are a growing number of people who use Twitter for business…. not just aggressive web marketers who “tweet” every blog post they make and create links to all their online activities.  Rather, there are professionals using Twitter in the following ways:

• Follow industry leaders who post links to important resources and influence conversations
• Post questions for quick answers and answer others’ questions to establish your credibility and expertise
• Create links to your Web site or blog (don’t over do it!)
• Keep up on the buzz in your industry
• Network with like-minded (cutting edge) people

The more people who follow you on Twitter, the more influence and networking opportunities you have.  Thus, it makes sense to try and build a following.  Try:

• Follow them:  but be discriminating.
• Post some good tweets right before following someone else:  If someone follows me and they only tweet about how hungry or tired they are, I don’t follow them back.  The same goes for people who haven’t tweeted in a while.
• Complete your bio:  People don’t follow strangers, so complete the one-line bio and include a URL in the More Info URL section of your profile. 
• Add your Twitter feed to your blog or to other social media profiles.
• Reply to people you are following, especially if they’re not yet following you:  That’s a great way to engage somone and get them to follow you, even if they didn’t follow you before. 

 

Remember Everything

Cool new item I found over the weekend… courtesy of Cali Lewis and GeekBrief.TV.
With the tagline “Remember Everything,” Evernote allows you to easily capture information in any environment using whatever device or platform you find most convenient, and makes this information accessible and searchable at anytime, from anywhere.

So, what’s the point of Evernote? We are all constantly bombarded by information, much more than our brains can handle. So, we end up forgetting all sorts of things. With Evernote, you can start capturing all of those experiences, ideas, and memories, from both your real and digital life that would otherwise slip away.

I see this as a great tool for photographers, artists, and other visually creative types who store images rather than documents. No more “senior moments.”

Ayn Rand, Where Are You?

On Monday, May 5, the Wall Street Journal’s Erin White ranked the top most influential business thinkers: Gary Hamel, No. 1. This article follows up a recent story in USA Today talking about rich entrepreneurs.

Who’s missing from both groups? Women.

Not a single one popped up in the Journal’s Top 20 list. Rankings were based on Google hits, media mentions and academic citations. But, I say where there’s weakness, there’s opportunity.

I would love to hear about more female speakers. (Better still, I’d love to BECOME one!) Yet, most of today’s wealthy women are still making their money through inheritance or divorce. So, why aren’t there more influential women business thinkers on these lists? How can this change? If you’re a man, would you be motivated to hear a female speaker? If no, why not? If yes, who?

Education from the Blogosphere

Some words found in the social media space lately… time to re-educate your-CEO-self!

Socialprise: social tools + enterprise; one of the biggest shifts in business today.

TLO (Twitter Liberation Organization): concept proposed by Techcrunch and others suggesting that Twitter is “too important” and must be open-sourced so that the platform won’t crash when usage spikes.

Distributed Polling: we are better at solving problems collectively. Fred Wilson posted a poll on YHOO stock price which was picked up and published on a number of leading blogs.

ReadBurner: the socializing of Google Reader so that friends can see what you’ve saved.

TwitPitch: Stowe Boyd, suggests a new way of “pitching”… limited to 140 characters. Now THAT’S the future with no time wasted.

This last word, TwitPitch, is my favorite! 140 characters forces you to distill your business concept down to image words/ phrases that nail exactly what you’re doing and where you’re heading… Fantastic!!

Hello? Is there anybody in there??

“Nothing was ever created by two men. There are no good collaborations, whether in art, in music, in poetry, in mathematics, in philosophy. Once the miracle of creation has taken place, the group can build and extend it, but the group never invents anything. The preciousness lies in the lonely mind of a man.”
John Steinbeck, East of Eden

Entrepreneurs have often felt lonely – believing that no one else shares their vision or their passion for building a business. But, we are not alone (pun intended) in that feeling. With today’s growing workforce of soloists, telecommuters, work-at-home parents, independent salespeople, and virtual teams, loneliness is a feeling that millions of business owners are fighting.

During the ups and downs of completing a project, or finding new customers, the feeling of loneliness can set in and limit our vision and our productivity. It can be discouraging and be a wallop to that old self-esteem. And, with the gadgets we tote around, we unknowingly make it worse. Technology that’s supposed to connect us – email, voicemail, and PDAs – often fuels our loneliness, enabling us to do a better job of isolating ourselves. For some reason we don’t treat every email or voicemail like a real person is behind it. Why acknowledge it?

We’re also intentionally distracted. We’re plugged into our new I-Pods, or tapping our PDA screen playing a game. How about using technology to interact with real people once in a while?

There’s no need anymore to pretend that you’re too busy dealing with important people and projects. I know the truth. As a small business owner, I am one of you, and it’s vitally important that we connect and help each other’s ventures grow.

Yes, it was your idea in the first place, as John Steinbeck says, but greatness was never created in a vacuum.

MOOFING Monday

MOOFING v. Derived from the acronym for “Mobile, Out Of Office.”
MOOFERS (n.) abandon the workplace between meetings, taking laptop and BlackBerry to the local Starbucks or anyplace else where they can escape interruption by talkative coworkers.

Okay… is it just me, or is it absolutely pathetic that you have to LEAVE the office to get work done?!?!! Is this the state that corporate america has sunk to? If your company has this kind of culture, maybe you should consider (I’d highly recommend!) changing the atmosphere.

Is the office of the future no office and just a headquarters in cyberspace? 42% of IBM’s 350,000 employees rarely, if ever, come to an office. IBM says it save $100 million a year in real estate costs because it doesn’t need the offices. The work force at Accenture management consulting firm is so mobile no even the CEO has an office with his name on the door.

In the future, more companies with scattered work forces and clients may do what the marketing firm Crayon is doing: making its headquarters in cyberspace. Especially, if yours is a “knowledge-based” asset company.

Crayon’s workers rarely meet in the physical world — some are in Boston, others are in Nutley, N.J. — but their online alter egos in the virtual world gather once a week. “Our belief is if we bring like minds together no matter where they are in the world we can actually create that connectedness as if we’re actually at the same place at the same time,” said Joseph Jaffe, Crayon’s CEO.

And, there it is… real productivity vs. time wasted.

Perfectionists are Losers!

Okay, so I’m getting my car washed at Park Place Lexus today, and that’s how I’m blogging. (No computer, Day 4… STILL “jones-ing)

Read this yesterday, so I just had to pass it on.
From Pamela Slim at EscapeFromCubicleNation…

“So I asked Ramit Sethi a question that I have heard from many young people who want to work for themselves:
“What if people won’t want to hire me because I am too young?”
“Give me a break,” he said. “Perfectionists are losers.”
I laughed out-loud at his bluntness, but immediately got what he was saying.”

If you have a tendency to let perfectionism overrun your world, check out how to overcome it.

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