Comments

As opposed to your favorite authors sharing your worldview, I'd hazzard that the majority of the "little guys" don't. I've run up against the "We've got to compet on price!" mindset. It's tough to turn it around.

Posted by Dustin at July 20, 2005 3:19 PM

It all depends on the business you're in. In service industries, for example, it is possible to run rings around larger competitors by offering a more personal service. Not so easy in manufacturing where sheer purchasing power gives a big business a massive advantage over a small fry. Price is always a factor, not the only one, but an important one, especially for a new, small business looking to establish itself among already established, better known competitors.

There are a couple of things I'd add to the list, the first being hard work. Corporate managers tend to work hard, but not too hard, for the sake of their paycheck. An entrepreneur lives in their business and has no problem going the extra mile. If they don't, they'll go bust and this fear is a big part of what drives them and everybody on the payroll to out-work and out-think their larger competitors.

Another is cashflow. Larger competitors tend to have deep pockets which allows them to solve any unforeseen problems that come up by writing a check, while also allowing them to use those resources to drive their smaller, less well funded competitors, to the wall. It doesn't matter how good of an idea you've got or how great your marketing, if you run out of cash, you're out of business.

I'm not sure it's a lark competing with the big boys in any industry and I certainly wouldn't like to be up against the likes of Walmart etc. I'm not saying it can't be done - the majority of businesses in the world afterall, are small and growing and every big business around had to start somewhere - but it isn't a doddle competing against the monstrosities.

I think the biggest thing for an entrepreneur to watch out for is after they've worked their backsides off and established their business in a cut-throat competitive market and are generating lots of cash and things are looking good, along come some of those larger competitors knocking on your door with a sweet offer to buy you out, telling you how they're going to make you instantly rich while letting you continue to run the business in the capacity of President or some other attractive title. And there'll be a not too subtle threat that if you don't sell out to them, they'll throw all of their resources against you and drive you out of business. This has happened to me.

That's the time to throw them out of your office and redouble your efforts because if you don't, you'll always wonder what you could have accomplished and how far you could have gone under your own steam without selling out.

Posted by Noel Guinane at July 20, 2005 4:19 PM

I work with a lot of small businesses (I'm also a small biz person) - so I know how daunting it can be when facing competition from the "Big Boys." However,(as you note above) small biz actually has a lot of potential advantages - not the least being they're much closer to the customer. The owner/CEO is usually right there, up close and personal - not thousands of miles away on a Mahogany Row, hiding behind phone systems and personal assistants.

Posted by Mary Schmidt at July 20, 2005 5:04 PM

I don't know Noel. Pride has it's place, but I suppose it depends on why you started the business in the first place. I work to live rather that live to work; and if I was offered an attractive package to step aside; I would consider the venture a success, accept it, and then start another one if I had still had an urge to create something. That or spend the next 20 years working on a novel in Bora Bora.

Everyone has different definitions of success. I know many small business owners that choose not to force growth. They don't want the stress or time and effort involved. They want to spend time with their family and make a decent living providing a quality local or regional service. And there's nothing wrong with that. Most small business owners I know would relish the thought of Starbucks handing them a big check to step aside.

The reality is, most small businesses need to worry more about existing or emerging small business competition in their area than they do about the big players further afield who aren't necessarily watching them.

Posted by Tom O'Leary at July 20, 2005 7:51 PM

I went to Starbucks this morning (in Sydney) and ordered a Venti Skinny Cappuccino. It came back to me approximately half full of milk and the other half cappuccino froth. For this privilege I paid 50% more than the average price in Sydney. If this is a threat to local competitors then they must be kidding.

Posted by Valerio DiBattista at July 20, 2005 10:22 PM

Tom, I agree that it depends on why you started the business. One characteristic common to entrepreneurs I've known is independence - they go into business for themselves because they are motivated by an idea and do not want to bring it to life working for someone else. And another characteristic is that as they grow, they look to acquire other solid businesses that are being run by people who are not interested, for whatever reasons, in growing them, even though the potential for growth is clear and present. They're willing to put in the work necessary to turn a mom and pop store into a national phenomenon, as Sam Walton did with his business.

In the case of a small local supermarket, I think they have to be very much concerned when the big chains target their geographical area for expansion. Often, they don't buy the small fry out - they just run them into the ground by offering customers better value and more convenience for their money.

But I agree that most small business owners only attract the attention of the big boys farther afield if they've got something hot on the go and that's when they have to decide what's more important - money or independence. The main motivation for every entrepreneur I've known is the freedom to run their own show the way they want to run it. Money is secondary.

Posted by Noel Guinane at July 21, 2005 3:05 AM

Folks,

Tom's list is indeed impressive (as usual)! Kudos to Tom for that 'sexy 16' Small Business Success List!

I have formerly been a management consultant with one of the Big-5 Accounting Firms (now Big-4 rather..) and having worked with larger corporates in India & oversea and presently heading a SME (Small & Medium sized Enterprise) as its Finance Head, i feel that there is strong feeling of 'Fire under the Belly' in SMEs (owner-managers etc..) in terms of the way they operate across all / most of the functions. And as very rightly said by Noel above, "An entrepreneur lives in their business and has no problem going the extra mile. If they don't, they'll go bust and this fear is a big part of what drives them".

I strongly believe that the right time for people to start out on a journey called 'entrepreunership' is when they have had SOLID experience working with larger corporates knowing the policies, procedures, strategies, functions, vision, mission, goals & ofcourse daily routines et al!!

Last but not the least, if u wanna make it BIG in SMALL business, i quote Steve Jobs of Apple & Pixar fame - "Stay Hungry and Stay Foolish"...so apt u know.....

Posted by K.Sriram (from India) at July 21, 2005 3:50 AM

Perhaps it's a cultural thing. Every entrepreneur I know in Ireland started their own enterprise, like you said, for the independence. None of them, and I know many (being that it's not a big place) have a Sam Waltonesque desire to conquer the nation or the world. Then again, work/life balance is more cherished here in Ireland than in the States. 9am is an early start here, and communities are small and very involved.

Entrepreneurs are motivated by different things, and I would venture to say that less of them have the drive or desire for world domination that Sam Walton did.

Posted by Tom O'Leary at July 21, 2005 4:00 AM

This actually reminds me of a story:

A very successful businessman from New York was on holidays in Ireland. One day, while doing some sightseeing in the fishing village of Killybegs, Co. Donegal; he saw a man come in to shore with a substantial catch aboard his small boat. He approached the man and said "Must be a good spot you've found." The young fisherman replied, "aye, I do alright for meself I suppose." Then the man looked out to the sea and back at the man and his small boat and said, "Did you ever consider getting a bigger boat?" "Now why would I do that?" replied the young fisherman. "Well, with a bigger boat, you could bring more fish in each time you went out." "Now why would I want to do that?" replied the young fisherman. "Well, you could sell more fish, and your business could grow. You could hire more people and soon enough you'd have a fleet of boats and a very competitive business. Heck, you could be the largest fish merchant in Donegal, in Ireland even!" "Now why would I want to do that?" replied the fisherman. "Well, so you could make more money and retire early and do the things in life that you enjoy doing." "And what do you think I'm doing now" replied the young fisherman with a casual grin on his face.

Often, we spend our life trying to grow things for the sake of growing them or to satisfy our own ego by being "successful".

...and yes, I know that the jobs created by those businesses who did decide to grow are important for the economy, blah blah blah. Just make sure that your personal goals are being met when you start a crusade to grow something big - otherwise, you might be taking a long detour to a place where you already are.

Posted by Tom O'Leary at July 21, 2005 6:42 AM

I would not like to have the impression created that starting your own business is a nice past-time-like thing to do. It's anything but! If you're not living and breathing your business for at least the first five years, your chances of succeeding as an independent businessperson are exceedingly low. That's not to say there isn't a great sense of personal satisfaction that comes from building a business against the odds, but the quality of life in the first few years of any business comes pretty much solely from the business itself at the expense of all other interests.

Maybe you can plow your retirement savings into a nice little country shop and serve the local community from 9 to 5, closing on Sundays to go fishing and a half day on Wednesday's for a spot of gardening, but to my mind there's nothing exciting in doing that, plus you're still vulnerable to a competitor, maybe an Asian family, moving into your neighborhood and out-working you and your livelihood out of existence. In fact, you're inviting it.

My point is that if someone is not prepared to pour everything they've got, mind, body and soul, all the hours in the day and all the money they can lay their hands on, into building their own business, don't even think about going the self-employment route. There are lots of people out there claiming to be self-employed, but there's nothing behind their letterhead, neither a great idea nor even a desire to put the work in to build the business into a respected enterprise they and everyone working in it can take pride in.

An old guy once told me to dream big dreams and work hard. I've never had cause to doubt his advice. If the first part of that is not for you, the second part is inescapable if you're serious about building your own business.

Posted by Noel Guinane at July 21, 2005 6:56 AM

Noel, the thing is, many entrepreneurial pursuits outside of America ARE Mom and Pop businesses that were started either because there wasn't much work in a given area or someone wanted the independence of making a living without working for someone else. In Ireland for example, people are very resourceful and have their hands in several different things at once. Here the "big dreams" involve spending time with your family and friends and playing gaelic football or "over 40" soccer, going for a few beverages at the pub afterwards.

I think the pursuit of dominance or wealth is rare enough in Ireland. People here don't have time for someone who thinks she's a big shot. They drink in the same pub as the farmer down the road and talk about the local GAA match rather than the stock market. Status is defined by contribution to the community and finances are very private matters.

That's not to say that people here don't work hard, or that there aren't people who have more "materialistic or ego-enhancing" dreams (sure Ireland has seen more growth in the last 10 years than anywhere in the world) but in most instances people in Ireland work hard enough to live rather than to attain more than they have or need to be comfortable. Time is a very valuable commodity here.

There is no denying, however, your point about the need to invest your soul into your business (especially in the first 5 years) if you want it to thrive. That's why it's so very important to do something that you love doing.

Posted by Tom O'Leary at July 21, 2005 9:46 AM

Tom, I don't disapprove of the businessperson that wants to stay local anymore than I disapprove of the businessperson that wants to go global. Both are fine by me. The point is that if you are planning to build your own successful business, hard work is a given no matter what size your dreams are, gargantuan or provincial, or where in the world you're doing it, and on this I think we agree.

Posted by Noel Guinane at July 21, 2005 10:50 AM

We do indeed Noel. Hard work, endurance and a big helping of persistance!

Posted by Tom O'Leary at July 21, 2005 11:29 AM

I don't think I have ever had a "great" experience at Wal Mart. I go in, get my stuff, check out, load it into my car, and go home. I don't talk to the employees and the employees don't talk to me. Most of them don't even smile. I get the feeling that they don't want to be there and even more, I get the feeling that they don't want me there.

Posted by JLP at AllThingsFinancial at July 21, 2005 11:38 AM

Respectfully disagree on "hard" work - how about a preference for "smart" work? One can toil forever and not do the right things right at the right times. Actually I prefer smart career deals - work seems so 19-20th century to this knowledge worker ... I mean dealer. Totally agree on import of endurance and persistance.

It seems how we think and speak to ourselves is key - stay upbeat and almost everything is a learning experience for an entrepreneur.

Example: I guessed that it might be smart to use a gravity inversion table [$99 Costco] every day - and luckily after 3 mos. the body is an inch taller - posture is 100% better - it seems incredibly easy and fun compared to stretching, pilates, yoga, pharama. Seem to glide through the day now almost. Need those riches Noel to buy into a starter $750k gated Santa Fe home. :>)

Posted by Sean at July 21, 2005 4:10 PM

Though there's always room for doing things better, there's really no alternative to hard work, not if you're starting a business from scratch and hope to build it into something you're proud of. I'll agree that anyone's success depends to an extent on good luck, but you know what the Americans say: the harder you work, the luckier you get!

Posted by Noel Guinane at July 21, 2005 4:53 PM

I think you are right that it is a "lark" for the little guy to win...but like David vs. Goliath, it does happen....and often on a biblical scale.

I think that anyone can succeed if that follow the advice you give. They also need to remember that "people do business with those they know and like". Small businesses can win with some great relationships with customers.

A local ice cream shop I know beats the big chain hands down because the owners are always there, know us by name, and pay special attention to our kids. We go there because of that personal touch.

While "networking" is an overdone word, it is still an important part of success for business professionals.

Posted by Thom Singer at July 21, 2005 8:49 PM

There are plenty of people who work "hard" on a daily basis, never have their own business nor have the financial security of the ceo of the company where they work "hard". For most who start a business where there is a passion and love for what they do, you would never hear them say they work hard. They work. It does not matter if it is the first day, year or five years from now, the passion and love for what they have created brings that something extra to what they are doing. You can also find these same people in large corporations, in a department in the back, in the corner, in the dark. Those who are monomaniacs on a mission. These people do more than is necessary or required all the time. Somewhere right now someone is becoming excited and passionate about an idea that will become the next Walmart, Apple or Home Depot. And then there are the many who are just as passionate about being the small niche business that becomes all they want it to be without the additional 900 stores.

Posted by Randy Reynolds at July 21, 2005 10:30 PM

Beat Wal*Mart? HELL YES!!!

Is it possible to beat the Wal*Marts in an industry? Yes it is. But the answer lies not in thinking like the Wal*Marts, but rather like the Sam Waltons of the world!!

His story is the classic example of knowing the "Giants" weaknesses and systematically going about beating them in their own home turf.

But there is a sad reality to this idea. It is that most business owners will be so focused on putting out today's fires, that they will not find the time to strategically plan (meaning take two minutes out of any day to put their heads up and have a bloody good look at what is going on outside their business).

And few, if any, will have the ability to look at their industry and see the places for improvement. And a microscopic few will also possess the knowledge/insight that, if successfully implemented, would truly shake the foundations of that industry (I believe some people call this "innovation").

And thus, we will only see but a few companies who beat the Wal*Marts of the world. But it is not impossible - just improbable.

Posted by Dean Jones at July 22, 2005 12:03 AM

Fantastic list and right on track. Also love the quote from Jobs: "Stay Hungry and Stay Foolish".

One thing Ive never understood is the tendency for many small businesses to copy the big guys... and then, predictably, get crushed. I agree, it doesnt have to happen that way.

A small example from Greenville, South Carolina, USA: A friend opened a Smoothie Shop in downtown Greenville. He decided to copy the franchise chains in the region. He opened several stores at once. All his energy focused on imitating the big guys. Two years later, the business closed down.

Another example from Greenville: Coffee Underground. Focused their energy on creating a funky, cool, warm, local experience. Waiters and waitresses know regulars by name and drink/food preference. Most servers also knew my profession and my basic interests (they were encoruaged to chat with customers). The shop hosted local music, film clubs, poetry readings, and club meetings. The drinks and food were excellent (food made fresh on site).

Result: Wild success and no threat from Starbucks or the other chains.

.....

Posted by AJ Hoge at July 22, 2005 3:40 AM

From a designer' point of view, you nailed that list perfectly Mr. Peters.

Most failing companies/businesses/products today are lacking on great design and its hurting them when challenging either big competitors or even the small ones.

Design visually separates the weak from the strong, and I believe with an appropriate lovemark and great design built around that lovemark, a small company can easily get the foothold it needs to conquer many.

Posted by Levi Brooks at July 22, 2005 10:40 AM

I'm 'the' "little-guy".
Have been a brand unto myself even before you wrote "Brand You", so when I did read it - it was exhilarating to know that I was doing the right things, the right way.

I sell my expertise on my website. I sell my services in e-mails. I sell my capabilites each time I meet someone each time I communicate.

The media I use include the web and face-to-face. I am a designer, Innovation Consultant, Business Networking Consultant, Photographer and writer [and others I have not defined yet]. I am a niche myself.

Blogs, business networking and websites - they have added to my "marketing". The best way to advertise is to tell people about what I do [word-of-mouth]. Tools like openBC and LinkedIn have allowed me to market my services to the world and not only my local region.

I am a one-person industry. I am a brand.
The service I offer cannot be replicated because I cannot be replicated - so I have no competition. Ask WalMart to match that!

Posted by Naina Redhu at July 22, 2005 12:21 PM

Naina - I'm not buying or recommending "I am a brand I have no competititon I am a niche" - services rejected because it needs to be all about the customer and you write like it is all about you and "expertise".

Posted by Sean at July 22, 2005 3:59 PM

And of course, make sure that your chosen niche can support your industry. In a small country like Finland (where I write this), the small niches get really small and while you may be the biggest and fastest and smartest fish in the pond, you may still starve. Because there is then a risk that you slip back to being a generalist, just to make that cash flow.

Posted by Risto Pakarinen at July 22, 2005 4:52 PM

I think anyone in business for themselves is a businessperson first; their specialty is secondary to the fact that they are a businessperson who knows how to do business and I agree that it's all about the customer.

I've also seen small businesses trying to copy their bigger competitors and getting crushed for doing it. When I was growing up, my uncle ran European operations for the car rental company, Avis. He wanted to go into business for himself so what did he do? He set up a small car rental firm in direct competition with Avis, and he brought a big company mentality to a tiny start-up. Of course Avis targeted his business, dropped their prices, launched a special ad campaign in his cachment area and drove him to the wall, in my view not because he represented much of a threat to their business since he only had one outlet, but because he had had a senior position with them and they did not want any of their other senior execs to get the same idea.

viagra online price Though I agree it can be done, it really isn't easy competing against big companies because they have deep pockets and an established name, and very few of them welcome new competition. The most valuable asset anyone in business for themselves has is their reputation and it takes time to build one. You might be an incredibly hard worker and have enough cashflow to keep your business going, but until you've got a reputation, you've really got nothing and all of your moves in the first few years are aimed at building one; with customers, suppliers, bankers, etc. As you're building it, you can expect your competitors to do everything possible to undermine it.

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For example, Richard Branson already had his reputation made as a savvy businessperson before he launched his start-up airline, Virgin Atlantic, consisting of one airplane, in competition with British Airways. His autobiography, Losing my Virginity, provides some insight into the lengths a larger competitor is willing to go to undermine a newcomer to their market.

Posted by Noel Guinane at July 23, 2005 3:53 AM

Ten days ago I posted on how Christian booksellers were lamenting that Wal-Mart was taking share from them at an alarmingly fast pace.

Then came the NYT article on how Costco was taking lunch from Wal-Mart.

Now there's your list of 16 ways to beat Wal-Mart.

Of the 16 ways, I like the first: Be niche-aimed. Wal-Mart is trying to be all things to all people. Focus wins. Well almost always ... the Christian booksellers are focused, but are still losing share to "all things to all people."

So that's where I jump to your No. 4 Idea: Compete on value/experience/intimacy, not price. Well, to that, I would say surely the Christian booksellers understand the value of customer intimacy, and yet they are losing share.

You say to sell based on emotional bond. Dead on. And yet they are losing share.

Then I catch a phrase stated by the Christian booksellers: our Christian customers owe us loyalty. Now, that won't cut it. As customers, Costco has proven we want to do the right things. The booksellers need to get a handle on the messages that will most resonate with their customers. We do want to do the right thing, but it must be relevant to our personal needs, wants and expectations.

The important thing about your list of 16 ways to beat Wal-Mart is that they are all important. No cherry picking. Get the business right and do the right things.

Posted by Dale Wolf at July 23, 2005 10:50 AM

The passion and creativity going on in any small business is a far more better and powerful than it is in any big company.

It is also a question of not comparing your small business with the big ones. Have you ever seen a fly comparing herself with a mamut? Are like two worlds apart, open your eyes. Those kind of attitudes are the ones that wouldn't bring any small business to suceed. And I hapen to like them (!)

Posted by Omara at July 23, 2005 11:10 AM

Omara - reality check time for you - there is plenty of passion, creativity, and entrepreneurship in some giant companies. Nike, Microsoft, Starbucks, Virgin Atlantic and Southwest Airlines come to mind - they have cultures that TP praises - keeping new ideas flowing/clear branding, and promoting small teams that emulate radical new startups.

Plus many employees and associates that started with those companies and invested in their culture are easily worth a few million dollars each - and that to me is just about the ultimate in feel good medication = financial independence.

Posted by Sean at July 23, 2005 11:44 AM

It is a lark indeed - life is a lark ... I'm high on a tenth slice of pineapple [Del Monte] - and it occurs to me there is still some life in the olde real estate investment market - the NW USA is being snapped up a bit - however, places like Pocatello, Idaho, et. al are still potential bargains - and Washington State has no state tax and no sales tax on food and pharma.

May we all have a heavenly vacation time of it, and a nice slice of pineapple perhaps and/or choc cheesecake ...

Posted by Vacationman at July 23, 2005 4:00 PM

Sean reality check for you that is not my experience. I may need more facts than only mentioning a few big guys and Mr. Peters as argument of authority.

Posted by Omara at July 24, 2005 8:30 AM

Time to buff the brain Omara - it is Dr. Peters - Stanford University [MBA & doctorate decades ago] ... the performance of Nike, Microsoft, Virgin Atlantic, Costco, et. al is public record - do a bit of research if you have the energy ... plus Dr. O'Leary makes the case in the Costco note above.

Posted by Sean at July 24, 2005 2:10 PM

I've been inside big and small companies and I have to agree with Omara. I found a lot more entrepreneurial flair in small companies. There are exceptions, maybe when the founder is still around, but in the main, big companies are not built to handle entrepreneurs.

Bureaucratic rules and regulations, groupthink, an aversion to risk and incremental growth is their focus and these things do not encourage much creativity, innovation or risk-taking.

Posted by Noel Guinane at July 24, 2005 4:20 PM

Noel - totally disagree - I worked at Nike [Beaverton, OR] and it flourishes in a campus like atmosphere - the resources for start-up like activity are vast, whereas budget is always a main limiting factor for new business. The Costco example is prime as to the benefits [Tom O'Leary] of a larger more stable enterprise that provides health care and family support salaries - this pushes creativity/innovation in a secure/productive environment. Debt ridden creative/innovative types are a dime a dozen.

Risk-reward ratio should be measured - I know of plenty of Microsoft, Nike and Starbucks millionaires - that began with them well after their start-up phase - they are still nimble and fast moving, whereas most startups fail leaving employees with nothing [or worse - plenty of debt]. The way to compete with Wal$Mart is to stay in business 1st - maximize billable hours.

Posted by Sean at July 24, 2005 6:01 PM

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Sean, there're always exceptions. Look at Apple, but that's not typical of big business and it's still being run by the founder.

Did you really include Microsoft in the innovative, creative list? You must be joking or at the very least trying to push my buttons ;)

Posted by Noel Guinane at July 25, 2005 3:30 AM

Microsoft is a bit soft in some areas - but hard cash - they rule!

http://www.businessweek.com/magazine/toc/05_31/B394505creativecorp.htm

The link above hopefully goes to the new August 1 issue - BusinessWeek online site - there is a focus on several cool articles relating to creativity and innovation: "Tomorrow's B-School? It Might Be a D-School" - Dr. T's alma mater Stanford University is featured - DESIGN we say. The Yuan is in there too.

Newsweek August 1: Robert J. Samuelson - Since 1995 Ireland's growth rate avg: 7.9% - Germany 1.3%. In 1990 per capita Ireland incomes 28% lower than Germany - 2004 Irish are 26% higher than Germany [my 1/8 Irish heritage approves].

50% of Ireland's manufacturing employment is from foreigh multinationals - 6% Germany. Seems innovation, creativity and growth must respect global economics and openness to new design and new frontiers.

Posted by Sean at July 25, 2005 7:20 AM

Great, I must confess that I like when someone agrees with me! thanks Noel. It's also quite interesting when someone doesn't agree with my point, it helps me stretching my mind. However guys, I was commenting on my personal experience and, really, whatever your opinions none of them will change that.

Here are my responses for you Sean:

*Do your really believe that it is possible "totally disagreeing" about something?...
*Did you mean creativity and innovation linked to security? (!)
*Do you think possible that from all those startups you mentioned that didn't take off nobody learned anything or started another successful thing afterwards? please, "do a bit of research if you have the energy".
*I have related to Phd and doctorates since I have memory in my close circle althought I am not one of them. Do you need people to have such certifications for respecting and considering their views? Now, that would be another issue, wouldn't it?.

Posted by Omara at July 25, 2005 7:34 AM

Omara - please check the BusinessWeek link above - the articles are quite inspiring ... the Radical Evolution book Dr. T mentions is also extra cool - the authors site is quite amazing ...

http://www.garreau.com/

Posted by Sean at July 25, 2005 7:43 AM

Trevor, great to have you here and I quite like your message, especially the quote.
There must have been some sort of incident with the website because your post appears repeated many times, thanks God it is a good one :-)

Re. Sean's last post, it looks pretty much like an hesitation to me, but thanks anyway.

Posted by Omara at July 25, 2005 2:02 PM

Sean, I had no idea my post came across as giving more importance to my expertise. Come to think of it, I'll be giving better service to my clients if I am an expert. If I am not good at what I do AND have low self-confidence in my abilities, I will be doing a disservice to my customers.

It has to start with "It's all about me and my expertise". I need to be sure that I'm doing what I'm doing for the right reasons and that it will ultimately be for the benefit of my customers. If I start with a half-baked idea about what value I am going to add to customers... well we all know what would happen.

Posted by Naina Redhu at July 26, 2005 12:17 AM

viagra with overnight shipping At the moment (I change, therefore I am!), I believe that in order to do right for your customers, your focus must be on your customers rather than your efforts and capabilities. It's difficult to force fit what you do into a market where needs have already been identified. In order to do something that benefits customers, your actions have to be guided by customer needs, desires, budgets, etc. Then, you focus your efforts on solutions to those needs, desires and budgets...

I suppose it is a question of what your motivation for business is? Do you want to drive your own market or be driven by the market? Normally, there is a balance between responding to existing market forces and designing, developing, and doing innovative market-persuasive "stuff"

Posted by Tom O'Leary at July 27, 2005 5:50 AM

Commerce Bank is a great example of the "innovation, passion, and enthusiasm" you speak of, Trevor. They have the most exuberant corporate culture I've ever witnessed and they'll try anything to create a memorable experience for their customers. Andy Rooney loves 'em: http://www.cbsnews.com/stories/2004/11/22/60minutes/rooney/main657032.shtml

Posted by John O'Leary at July 27, 2005 2:02 PM

Thanks for that article John - brilliant

Sad to say I have yet to come across a Bank here in the UK that is fun to visit!! - Passion is a word that is not in thier vocabulary methinks.

Maybe we should have performers in the building entertaining the customers while they wait in long queues!!

No wonder I now do all my banking online and I love that control. If I never meet another bank employee for the rest of my life that will be fine as far as I am concerned - no disrespect intended to any Bank employees reading this - but please tell me why I need to see you at all.

Posted by Trevor Gay at July 27, 2005 4:16 PM

Funny how these tips apply not only to business, but to starting a blog(s). Could that mean that blogging is inherently a [mini] business, as many are quitting their day job to find out.

Posted by ER at July 28, 2005 11:33 AM

Senor Trevor - I agree - have been doing the online and ATM only thing for a number of years - Bank of America has zillions of free ATMs in every state - makes it easy to do finances during business and travel expeditions.

How does passion relate to lifeforce and spirtuality I wonder?

Posted by Sean at July 28, 2005 5:37 PM

I would add: Know Your Products. Be able to discuss your products intelligently with the customer. If there's something you don't know, be willing to find out quickly and get back to the customer with an answer.

Posted by Lloyd Lemons at July 29, 2005 12:03 PM