SPIA Official Blog - Coaching Business Professionals since 1971 » Competitive Advantage

SLOW ECONOMIC TIMES ARE NOT THE TIMES TO DO NOTHING IN YOUR BUSINESS. HERE’S WHY….

Craig Stimmel — Thu, 18 Aug 2011 18:02:33 +0000

An Article by Karen Whitman, SPIA Partner: There is definitely a risk to business owners with a “wait and see” attitude. Just to name a few: Loss of market share Lost customers Loss of profitability Loss of cash flow Loss of liquidity Inability to keep up with technology Loss of productivity Loss of key employees Panicked employees (Worst scenario)—Loss of your business The greatest risk is the fear induced by the thought of the above happening in your business. This kind of fear can actually paralyze a person’s thinking, and it is the thoughts that control actions. Disabled thinking equals immobility in your business. Even though your business may not be at risk, this thinking makes you feel threatened. It goes back to the old adage, “If you think you can, you will, and if you think you can’t, you don’t!”

INTEGRATING SOCIAL MEDIA INTO A POWERFUL MARKETING STRATEGY

Craig Stimmel — Tue, 02 Aug 2011 16:26:05 +0000

In Y2011, we find ourselves striving to take advantage of Social Media Marketing (SMM). Today its all about looking for the “best” marketing strategy to connect with a company’s target audience. So, recognizing this flow of progress, we might ask ourselves, really how much has marketing really changed in the last twenty-five years? From the beginning, the basic objective of every successful marketing strategy has been the same – establish or develop stronger connections or relationships with people.

Analyzing A Business Opportunity …. Is It A Winner – or – Something Else?

Craig Stimmel — Tue, 14 Jun 2011 20:19:45 +0000

Whether you have a wonderful business idea – or – you are investigating business opportunities for yourself or a client, it is critical that you put each idea through a “reality check” – an analysis to determine if they are truly valid and worthy of further effort. All of your ideas must have a demonstrated need, ready market, and ability to provide a solid return on investment. Is the idea feasible in the marketplace? Is there demand? Can it be done? Are you able to pull together the persons and resources to pull it off before the window of opportunity closes? These questions must be considered and answered.

You Want Me To Do What? Visit Your Website and “Dig Down?”? What’s In It For Me?

Craig Stimmel — Fri, 19 Mar 2010 14:51:34 +0000

Be honest! Some things never change. A website's success is all about answering that famous question: What's in it for me? In order to capture someone's attention (and keep it) you have to offer them something they want today!!! And they must feel enough urgency to act on it today.

Making the Best of Trade Shows & Conventions

Craig Stimmel — Mon, 25 Jan 2010 16:22:57 +0000

One man’s trash is another man’s treasure – what you get out of a Convention or Conference depends on what you actually do with all of that training and the info in that ‘wonderful plastic bag’

Keeping in Touch with your Customer Regularly

Craig Stimmel — Fri, 08 Jan 2010 14:15:13 +0000

Why Would I Want To Say In Touch With My Customers
They'll Keep Coming Back - Right?

Business people sometimes swear that it really doesn’t make any difference. Yet, over my 35 year career as a professional adviser, I have heard this comment from at least 90% of the businessmen/women I meet. Is their reality accurate? From what the experts suggest, it isn't. Knowing the right answer to that question makes a BIG DIFFERENCE to a company’s ability to grow and prosper!

The market – both consumers and the business community receive a large number of emails together with direct mail letters/catalogs – all focused on convincing them that another vendor can serve them better – offering faster service, a larger spectrum of products/services or more attractive pricing and more. Today’s savvy competitor is out there communicating with your customer. Whether he/she elects to listen and buy depends entirely on how effective you are in convincing them to stay with you.

Do I really need a Unique Selling Proposition (USP)? And Why?

Craig Stimmel — Fri, 11 Dec 2009 14:48:48 +0000

Closing deals takes more than the old “we have great service” line. It takes a carefully crafted USP!

How Can I Distinguish My Company From The Competition?

Craig Stimmel — Sun, 06 Dec 2009 15:14:04 +0000

I don’t have to tell anybody in business that competition today is stronger, more aggressive and less sensitive to the impact it has on local competition. We only have to look at category killer stores (BestBuy, Frys, Lowes/Home Depot) together with big-box stores (WalMart/Target/etc) to get a sense of how different today’s marketplace is from that of even as recently as 20 years ago. The difference is most heavily felt with retailers whose cost of product they buy from vendors is significantly higher than that of their mega competitors. How big a difference? It can be as much as 20-30%. This explains why clients and friends in business often say that “X competitor” is selling product at less than I can buy it from my vendors”.