Extraordinary Business

Imagine you are making a trip to another city. Unfortunately your car is broke down and you have to rely on someone else to get you exactly where you want to go. In an urban area you might call a taxi, take the bus, or ride on a train/subway. If you live out in the sticks like I do, you may have to call a friend or relative to get you where you need to go. Now what if you couldn't speak and you couldn't write anything legible for the person to understand where you were going. Also, what if the person giving you the ride couldn't speak or write anything down either? All of a sudden the communication that we take for granted on a daily basis would probably get very frustrating.

I recently spent several weeks overseas in China. My Mandarin is quite rough to say the least. I can get out some of the basics but I am a long way from holding a conversation. Fortunately most times I had a translator with me to make sure communication went smoothly.

There were times though where I was on my own and it was up to me to get the message across. For example, one day I chose to travel to Beijing which was a two hour drive by car. Fortunately high speed rail was available which was more comfortable and much faster. The challenge was getting from my hotel to the train station, then to Beijing and back.

I had already experienced the challenge of ordering food at the local restaurants. Fortunately most items were pictures and you could point to what you wanted. Yet there were times where the server needed more information that the picture couldn't provide. Now what? In some cases it was a guess. A few times I was pleasantly surprised with something I didn't think I ordered but I managed to get by. In any case, it was extremely frustrating on both sides when we couldn't understand what the other was saying.

Now imagine yourself traveling 80 miles away with little more than a street address. A normally simple process became amazingly complex. I had to plan ahead of time and make sure my translator understood exactly where I wanted to go. I then had to trust that she would write down the correct information. (She must have liked me because I made it back) On top of that, I couldn't read what she wrote so she needed to translate each phrase back to English so I would know what I was "saying".

The taxi rides were very interesting because all the taxi drivers loved to talk, or at least all the ones I rode with did. Imagine having a conversation with someone and all you can do is smile, nod and try to explain you don't understand a single word that person is saying. Again, frustrating.

So what's my point here besides learn the language? This is an extreme example of how difficult communication can be. Many people who have been in a leadership role can relate to this experience even when the people you are speaking to DO speak the same language. The key is mutual understanding.

The other day a client shared how easy their job would be if it wasn't for the people and the difficulty understanding them. Two people can interpret information very differently. We often make the assumption that because we understood what we meant, that others should get the same message. Not the case. Many problems can be avoided if we work toward understanding. This is true whether you speak to a taxi driver in China or an employee on the production floor. The better you get at understanding the easier it will be to get things done the right way.

Labels: Business Coaching, China, Coaching, Communication, customer loyalty, customer service, Leadership, process, Professional Development, Strategy

Labels: "Dan Paulson", "Daniel Paulson", "InVision Business Development", Business Coaching, Coaching, growth, InVision, Leadership, Sales, Strategy

Labels: "Dan Paulson", "Daniel Paulson", "International Business", "InVision Business Development", Business, Business Coaching, China, Culture, growth, International, InVision, Leadership, Strategy

Natasha Vora is a friend of mine who owns Indocara. Her company specializes in bringing textiles and furnishings from Southeast Asia to sell in the US. She has a small retail shop located in downtown Madison as well as an online presence at www.indocara.com.

Though Natasha and I come from very different backgrounds, we do share some similarities. We both had the opportunity to hone our skills at larger companies (in fact, we both spent time at Lands' End), and we both left to pursue businesses that we are passionate about.

Recently Natasha had the opportunity to participate in a local business radio talk show. She shared her experiences and also brought up a really good point, the importance of buying local.

Small business is the key to stimulating the economy. These companies make up the bulk of our workforce and often are the engine for economic growth. Often we forget about these businesses when we shop. The big box stores have created top of mind awareness for many of us and we often do not give it a second thought to go to the large stores when we need something.

I have also experienced the buy local dilemma. Some companies perceive that business expertise or strategy needs to come from a large company in a big city, and that is simply not the case. Yet I have lost opportunities because of the perception that the business knowledge of a company in another state must be better than what can be provided locally.

I think it is important for all of us to support our local economies as much as we can. In order for us to thrive, supporting those in our community is crucial. So before you head to that big box store, maybe check to see if it's available from a local business.

To hear the podcast for Natasha's interview, go to http://loyalearspodcasting.com/wtdy/audio/IB032409.mp3

Labels: "Dan Paulson", "Daniel Paulson", "InVision Business Development", Business, customer loyalty, customer service, Economy, growth, Leadership, marketing, process, Sales, Strategy

What if you could reinvent your business or your product and grow by 20% this year, would you do it? My guess is probably so.

Today I read an article on Inc. Magazine's website (twitter inc5000 if you are interested.) about a small chemical company that did just that.

In Max Chafkin's article, he shared the experience of OMI, a company in Barrington, IL that specialized in industrial strength deodorants. For years, the company made a healthy profit margin of 80% by selling its non-toxic chemicals to engineers and plant managers. Yet Phil Coffey, who would later own the company saw more potential.

Phil had a plan to reinvent the product that had been so successful for industrial use and tap into the consumer products market. He saw a $4.7 billion dollar industry that he could tap in to.

After purchasing the company, Phil took a risk and launched a costly consumer strategy. His risk paid off and now their Fresh Wave product is taking off. In fact, they expect 20% growth in 2009 despite the economy.

The message here is this: opportunity exists everywhere. Unfortunately most of us fail to see it because we are too wrapped up in our own issues to notice. In other cases, even if we do see the opportunity, we may be too afraid to risk it. Phil's company already had profit margins of 80%. My guess is many would be happy with that and be unwilling to take on a risky venture.

Our country was founded on people taking risks; sticking their necks out. In order for us to grow and thrive, we need leadership that is willing to do the same. We need to make educated decisions and find the opportunities we can take advantage of. It is necessary to our survival.

Take ownership of your situation, find ways to re-invent yourself, make wise decisions, and have a plan.

Now is not the time to complain about the economy, your industry, your employees, management, government, or anything else. If you are willing to let someone else control your destiny, you may not like the results.

Labels: "Dan Paulson", "Daniel Paulson", "Inc. Magazine", "InVision Business Development", "Phil Coffey", Business, Economy, growth, Leadership, marketing, Sales, Strategy

Growth is possible anytime, anywhere, in virtually any industry. All too often we miss these opportunities over concerns and fear from what we see occurring in the marketplace. Yet businesses who are poised to grow now will be miles ahead of their competition when the economy shifts.

Why would I say this? It's simple, because most businesses will cut back and wait right now. It may be because they are unable to take action (no resources) or it may be fear (concerns without a plan).

What if over 80% of your competitors chose to do nothing right now, or continued to do things the same way they have always done them? What opportunities does that leave you?

If you are able to take action, you should do so now! Just make sure you are wise in your move. Have a plan, define new opportunities, limit your risk, and move ahead.

Labels: "Dan Paulson", "Daniel Paulson", "InVision Business Development", Business, Business Coaching, growth, InVision, Leadership, marketing, Sales, Strategy

I recently read an article by Barry Thomsen. He puts out the Small Business Idea-Letter. You can find is content at http://www.idealetter.com. The article was titled "It takes time for a business to put up a closed sign."

The article hit home on a key point that I tell many business owners who are struggling; "It's not what you did yesterday that got you here. It's what you have done over the past several months or years." Almost nothing happens overnight. Most problems start out benign. They are symptoms to a larger ailment and they may go unchecked because at the time they seem to be a nuisance instead of a larger problem. They are put off because people are too busy dealing with the daily issues to worry about them. Often when companies realize they need to fix these issues, it may be when they no longer have the time or the resources to do so.

Here's Barry's list. It's a pretty good one. I have abbreviated the original article to fit in this blog. If you would like the original article, please contact Barry at www.idealetter.com.

Customer Care: Treat your customers well or they will spend their money elsewhere.

Marketing: You must advertise and promote your business. Hanging out your sign is not enough.

Owner Attitude: Make sure your attitude is one that people want to do business (or work) with.

Training/Development: Customers want a knowledgeable, courteous staff. Continually develop your people.

Spending: Manage your money wisely. A growing business needs capital. Lavish trips and expensive equipment can cost you dearly.

Ownership: Stay connected to your business. Pay attention to the details so your business will grow.

Business Knowledge: Get to know the business basics, take courses, read and learn.

Salaries: Keep your pay and that of your employees at an affordable level. Reward for outstanding performance.

Keep up to date: Your products and services have to keep up with the times.

Ownership Change: If you bought into a business, you need to learn what the customers expect. Cutting corners could cut your sales.

Build Reserves: Keep cash on hand for the lean times

Product Mix: Learn what your customer is looking for.

Pricing: Make sure your pricing matches what you are offering. If prices fall too far out of line, you may lose your customers.

Big Accounts: While those accounts may pay well, they will cost you dearly should you lose them. Balance out your business so you don't have too many eggs in one basket.

Taxes: Keep up to date on your taxes. Falling behind here can be costly.

Labels: "Dan Paulson", "Daniel Paulson", "InVision Business Development", Business, Business Coaching, Leadership, Sales, Strategy

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