Posts Tagged ‘Harvard Business Review’

Who Are You Trying to Influence? Their Personality Types May Impact Your Effectiveness!

Wednesday, April 22nd, 2015

By Justin Grensing, Esq., MBA

There’s a certain feeling one gets when having a light bulb moment – a great idea that is so brilliant it absolutely must be acted upon. Similarly, a polished business strategy or project plan that is the result of hours and hours of consideration and mental exertion can be like a child one has groomed for success. But when that idea or plan gets shot down because it’s too risky or too expensive, or because your managers, customers or business partners simply don’t get it, it’s certainly a bubble-bursting moment.

Just as a great product or service is useless if it can’t be sold to the marketplace, a great idea is useless if it can’t be sold to the right stakeholders. What works for one executive won’t necessarily work for another; different leaders have different motivations, fears and triggers. Identifying those cues really requires knowing what type of executive you’re dealing with. (more…)

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Surviving and Thriving in a Blue Ocean

Thursday, March 5th, 2015

In a previous blog post, we discussed the difference between blue oceans and red oceans. As a very brief recap, red oceans are the “what is” of the industry; it’s what is being done. Blue oceans, by contrast, are an open frontier. They are the unknown. They are the space where companies create their own new markets.

The benefits of blue oceans are apparent. There’s no competition yet. You invented the market and are in many ways a monopolist. Given the benefits of blue oceans, every business would operate in them if they could; however, it’s not that easy. (more…)

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Think Before You Give That Next Customer Discount

Thursday, January 29th, 2015

A few years ago I was lamenting my cable bill with a friend who told me she had recently told her cable company she wanted to cancel her service because, based on how little she watched TV, she couldn’t justify the monthly fee. Rather than lose a customer, the cable company offered a steep discount. I’ve heard of others who have used the same strategy successfully.

I recently came across a Harvard Business Review piece called “The Downside of Discounts,” which reminded me of these cable company discounts. (more…)

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Are You Competing for Market Share in a Red Ocean?

Tuesday, December 16th, 2014

As marketers, we are constantly trying to assist the clients and organizations we work with to expand and capture market share. And while this goal is fundamental to mainstream marketing and business strategy, it overlooks a key concept often neglected by many organizations: blue ocean strategy. (more…)

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Interested in Content Marketing? What’s Your Strategy?

Thursday, December 4th, 2014

Top executives at successful manufacturing companies will tell you that even if you have the world’s greatest product, your business will struggle if you don’t have a great distribution strategy. The same is true for online content. Often, content providers and marketers focus too much on the message and not enough on the delivery of the message. It’s like coming up with a great idea, but not sharing that idea with anyone.

Jayson DeMers discusses this common shortcoming in an article for Harvard Business Review called “Why No One’s Reading Your Marketing Content.” As DeMers says, “Having a smart distribution model is just as important as developing good content in the first place – it’s how you bring in more business.” (more…)

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Engaging Customers in Real-Time Product and Service Development

Wednesday, November 26th, 2014

Traditional forms of marketing often pose a challenge for businesses in that they are often necessarily reactionary. Generally, marketers can’t determine customers’ satisfaction with a product or service until it’s already been created and introduced. By that time, it may be too late. (more…)

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The Innovator’s Edge: Addressing Needs That Don’t Exist!

Thursday, October 16th, 2014

Despite the fact that business and advertising classes and textbooks tell us that the first stage in the consumer decision-making process is identifying a need, there are certainly instances when consumers don’t know they have a need. That’s where innovators can have an edge.

Lee E. Miller and Kathleen Hayes Onieal recently wrote a blog post for Harvard Business Review called “Getting People to Believe in Something They Can’t Yet Imagine.” In the blog post, Miller and Onieal discuss the fate that often befalls new, groundbreaking innovations: Nobody believes they will catch on! The very fact that something is so revolutionary and unheard of often makes getting buy-in from key decision-makers next to impossible. The authors point out some of the reasons for this, including organizational inertia, fear of change, financial disincentives and fear of failure, among others.

So what can be done to overcome these obvious challenges? Certainly, companies introduce innovative products and services all the time. What makes the champions of change within those organizations succeed? Miller and Onieal point to several paths to success: (more…)

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Sometimes “no” means “yes.” Don’t give up too soon!

Tuesday, August 26th, 2014

There’s often a big difference between siblings, even those close in age growing up in exactly the same environment. That was certainly the case between my brother and I. He was the kind of kid that would ask for something and not take “no” for an answer–even when threatened with punishment. I, on the other hand, would take rejection or refusal at face value and move on. I have that same tendency today and I know it’s not the right way to approach life–or building business.

The point was driven home to me recently when catching up on some reading. (more…)

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