http://ow.ly/1FsNB-
http://www.boston.com/bigpicture/2010/04/oil_spill_approaches_louisiana.html
Many of these shots are from Venice Louisianna. I had the opporutnity to do a day of fishing out of Venice in 2001 with my good friend Bob Riches ( http://www.neeseind.com/ ) and really enjoyed myself. Venice is one of those spots that is almost "ya can't get there from here" and certianly can't go further w/o a boat.
The destruction is sad. Being a principal in a company that makes spill clean up products we are sending aborbent pads etc to the spill. At this point in technology though there just isnt a single agreed upon way to really work with large volume spills other than some skimming and booms. Dispersion only works 'ok' and the firing they didnt was only 'ok'.
THese spills must be prevented! I am happy to make my living selling spill kits and absorbents for hydraulic line spills in factories vs. the destruction of nature!
Friday, April 30, 2010
More on Grainger
I hope you enjoyed the story below on Grainger. I have been working with Grainger for the past 5 years and have enjoyed watching the processes and systems grow and grow. My business partner in STARDUST Spill Products Tim McDuffie calls Grainger Master Logisticians. They can get a product from a-z as well ans anyone. What I am really growing to appreciate - and this isn't to say that Graingers competitors don't do a great job as well-is the deep internal systems that Grainger puts in place market segment by market segment. .......................... its getting late- more on this later. Using blogspot I had to get this started or I'd lose my place mark!
Thursday, April 29, 2010
The Secret to Being Grainger
http://www.mdm.com/management-strategy/2010/04/26/the-secret-to-being-grainger/PARAMS/post/25913
By Ian Heller
April 26, 2010 Comment (1)
Grainger seems to pull off the challenge of being both a margin and market share leader in distribution.
As a distribution industry consultant who spent many years at Grainger (NYSE: GWW), I often get questions about the company from other distributors. Typically, the questions go something like this:
“How does Grainger do it? They’re the biggest distributor around, they have more customers and more products and higher margins than just about anyone else, and they show no signs of slowing down. How can I be more like them?”
Sometimes, executives will give me specific examples. An electrical distributor recently told me, “One of my customers just bought 10 30 amp circuit breakers from Grainger at a 35 percent gross margin. If he’d called me, I would have sold them at a 17 percent margin. Why does that happen?”
Adding to the general confusion about Grainger: A high-priced approach is supposed to be a niche strategy. But Grainger is arguably the largest distributor of its type, it sells to nearly every type of company and offers about 1 million products. In other words, Grainger seems to be pulling off the very difficult challenge of being both the margin and market share leader in distribution.
So how do they do it? It’s really pretty simple. Almost every distributor targets one of these types of segments:
•A product category (e.g., power transmission, fasteners, tools, HVAC products, PVF, building materials, office supplies, etc.)
•A customer industry (e.g., hotels and motels, restaurant equipment, mining, healthcare, janitorial, utilities)
•Or some combination of the two (e.g., selling building materials to home builders)
Grainger’s segmentation is different. The company does, in fact, sell just about every type of product to just about every type of customer. But Grainger defines its target segment by a specific situation: when customers need products quickly and with no hassle. This target segment, which Grainger informally refers to as “speed and convenience,” allows it to operate differently than other distributors and get superior results.
So while most distributors try to get a lot of revenue out of a small number of customers, Grainger wants to get a little revenue out of every customer.
When businesses or people need products quickly, they think about suppliers differently. For one thing, they accept that they will pay a higher price to have access to products they can get immediately, a concept academics call “place utility.” One former Grainger president for whom I worked used the example of a vending machine in a hotel. You know that $2 is a very steep price for a can of soda, but it’s worth it to you because it’s fast and easy to get your Diet Coke there vs. leaving the hotel to find a very inexpensive source, like Costco. The Costco store might not be open and even if it is, you will have to buy a whole case of warm soda in exchange for saving 90%. That’s a big margin swing but the “speed and convenience” of the hotel vending machine, along with the chilling of the product, which is a “value-added service,” makes it worthwhile.
Think about the times you stop at a 7-Eleven. There are no bargains in the store, but you know and accept this before you walk in. Thus, if you wind up paying 30 percent more for milk, you will probably feel the “speed and convenience” benefits were worth it compared with driving to a grocery store.
Businesses function in the same way. On a regular basis, purchasing agents, maintenance personnel, warehouse managers, etc., need something quickly and conveniently. In those situations, they go to the supplier who is most likely to have all of the needed items (which is called “assortment convenience”), has the most effortless ordering system and can deliver goods the fastest. In these situations, customers are not very price sensitive, even if they are very hard-nosed buyers when negotiating traditional contracts. Thus, Grainger is often the real or perceived best choice for the customer.
This applies to every type of product, even “commodities.” The more urgently a customer needs a product, the less commoditized that product becomes. For example, very few HVAC contractors rely on Grainger as their primary source for refrigerant. It’s a commodity most of the time, and HVAC distributors sell it at very low margins to try to win other business. However, if you are an HVAC contractor with a customer whose cooling is out on a 100-degree day, and you need refrigerant, you are likely to point your truck right into the Grainger parking lot. You will have a high degree of confidence that the product will be in stock, and you will be in and out of the branch quickly. In this situation, price doesn’t matter, even for a commodity. It’s all about speed and convenience.
Okay, so we’ve defined Grainger’s target segment, and we’ve talked about the nature of products needed urgently. Here are some of the ways Grainger delivers value for “speed and convenience” purchasers:
The most locations. Grainger has more than 600 stocking branches in North America. Sometimes customers need things extremely quickly, even the same day, and Grainger is the closest and fastest alternative more often than other distributors. Additionally, through its enormous distribution network, Grainger can probably deliver a wider assortment of goods the next day than any other supplier.
The most inventory. Grainger carries enormous stocks of inventory. In its “2009 Fact Book,” it claims more than a billion dollars on hand. Of course, this was offset by a relatively high gross margin of 41 percent. Like every distributor, Grainger has to choose between service levels and inventory turns and, in the speed and convenience business, you choose service levels. (Related: Vendor Managed Inventory Grows )
The best catalog. In some types of distribution, paper catalogs are still essential because they are the fastest and easiest way to look up many types of products. Grainger’s catalog is particularly fast to use, adding to customers’ tendency to pick it up instead of competitors’ books. The Grainger catalog enhances the company’s ability to handle “speed and convenience” transactions faster than competitors. (Related: Balancing Online and Print Catalogs)
The easiest to use website. Sometimes, the speediest and most convenient way to purchase something is by using the keyboard that’s right in front of you. If you are a business buyer, you already know Grainger is more likely to have what you need quickly vs. other distributors. You also know that Grainger.com is a particularly well-designed and easy to use website. Grainger has always been an e-commerce pioneer; the truth is that they are still in the lead. (Related: Grainger's E-Commerce Evolution)
Let’s wrap up by getting back to the question of how Grainger can be one of the largest distributors while executing what seems to be a niche strategy. Actually, it really is a niche strategy, but the niche is enormous in the extremely fragmented industry that makes up MRO. Every single business needs products quickly and conveniently and thus becomes a relevant target for Grainger’s value proposition. In an industry the size of MRO, which Grainger estimates at $125B in its 2009 Fact Book, they hold less than a 6 percent market share. So even in this “niche,” there’s a lot of room to grow.
Remember that “convenience” is also part of the equation. Sometimes even when customers are not in a hurry, it’s just more convenient to buy from Grainger. The company is more likely to have the product on hand, it’s clearly listed in their catalog or website, and they provide very friendly and competent service. All of these considerations make customers care less about price and more willing to buy from Grainger.
So there’s really nothing mysterious about what Grainger has done. The company has succeeded by serving “speed and convenience” needs for decades. What has changed over the last several years is the company’s willingness to focus on what it does best and get out of areas that don’t leverage its core competencies. This is the result of extremely high quality leadership that is likely to find new ways of enhancing its capabilities. That means Grainger will probably get even tougher in the future and expand its market share gradually but steadily.
By Ian Heller
April 26, 2010 Comment (1)
Grainger seems to pull off the challenge of being both a margin and market share leader in distribution.
As a distribution industry consultant who spent many years at Grainger (NYSE: GWW), I often get questions about the company from other distributors. Typically, the questions go something like this:
“How does Grainger do it? They’re the biggest distributor around, they have more customers and more products and higher margins than just about anyone else, and they show no signs of slowing down. How can I be more like them?”
Sometimes, executives will give me specific examples. An electrical distributor recently told me, “One of my customers just bought 10 30 amp circuit breakers from Grainger at a 35 percent gross margin. If he’d called me, I would have sold them at a 17 percent margin. Why does that happen?”
Adding to the general confusion about Grainger: A high-priced approach is supposed to be a niche strategy. But Grainger is arguably the largest distributor of its type, it sells to nearly every type of company and offers about 1 million products. In other words, Grainger seems to be pulling off the very difficult challenge of being both the margin and market share leader in distribution.
So how do they do it? It’s really pretty simple. Almost every distributor targets one of these types of segments:
•A product category (e.g., power transmission, fasteners, tools, HVAC products, PVF, building materials, office supplies, etc.)
•A customer industry (e.g., hotels and motels, restaurant equipment, mining, healthcare, janitorial, utilities)
•Or some combination of the two (e.g., selling building materials to home builders)
Grainger’s segmentation is different. The company does, in fact, sell just about every type of product to just about every type of customer. But Grainger defines its target segment by a specific situation: when customers need products quickly and with no hassle. This target segment, which Grainger informally refers to as “speed and convenience,” allows it to operate differently than other distributors and get superior results.
So while most distributors try to get a lot of revenue out of a small number of customers, Grainger wants to get a little revenue out of every customer.
When businesses or people need products quickly, they think about suppliers differently. For one thing, they accept that they will pay a higher price to have access to products they can get immediately, a concept academics call “place utility.” One former Grainger president for whom I worked used the example of a vending machine in a hotel. You know that $2 is a very steep price for a can of soda, but it’s worth it to you because it’s fast and easy to get your Diet Coke there vs. leaving the hotel to find a very inexpensive source, like Costco. The Costco store might not be open and even if it is, you will have to buy a whole case of warm soda in exchange for saving 90%. That’s a big margin swing but the “speed and convenience” of the hotel vending machine, along with the chilling of the product, which is a “value-added service,” makes it worthwhile.
Think about the times you stop at a 7-Eleven. There are no bargains in the store, but you know and accept this before you walk in. Thus, if you wind up paying 30 percent more for milk, you will probably feel the “speed and convenience” benefits were worth it compared with driving to a grocery store.
Businesses function in the same way. On a regular basis, purchasing agents, maintenance personnel, warehouse managers, etc., need something quickly and conveniently. In those situations, they go to the supplier who is most likely to have all of the needed items (which is called “assortment convenience”), has the most effortless ordering system and can deliver goods the fastest. In these situations, customers are not very price sensitive, even if they are very hard-nosed buyers when negotiating traditional contracts. Thus, Grainger is often the real or perceived best choice for the customer.
This applies to every type of product, even “commodities.” The more urgently a customer needs a product, the less commoditized that product becomes. For example, very few HVAC contractors rely on Grainger as their primary source for refrigerant. It’s a commodity most of the time, and HVAC distributors sell it at very low margins to try to win other business. However, if you are an HVAC contractor with a customer whose cooling is out on a 100-degree day, and you need refrigerant, you are likely to point your truck right into the Grainger parking lot. You will have a high degree of confidence that the product will be in stock, and you will be in and out of the branch quickly. In this situation, price doesn’t matter, even for a commodity. It’s all about speed and convenience.
Okay, so we’ve defined Grainger’s target segment, and we’ve talked about the nature of products needed urgently. Here are some of the ways Grainger delivers value for “speed and convenience” purchasers:
The most locations. Grainger has more than 600 stocking branches in North America. Sometimes customers need things extremely quickly, even the same day, and Grainger is the closest and fastest alternative more often than other distributors. Additionally, through its enormous distribution network, Grainger can probably deliver a wider assortment of goods the next day than any other supplier.
The most inventory. Grainger carries enormous stocks of inventory. In its “2009 Fact Book,” it claims more than a billion dollars on hand. Of course, this was offset by a relatively high gross margin of 41 percent. Like every distributor, Grainger has to choose between service levels and inventory turns and, in the speed and convenience business, you choose service levels. (Related: Vendor Managed Inventory Grows )
The best catalog. In some types of distribution, paper catalogs are still essential because they are the fastest and easiest way to look up many types of products. Grainger’s catalog is particularly fast to use, adding to customers’ tendency to pick it up instead of competitors’ books. The Grainger catalog enhances the company’s ability to handle “speed and convenience” transactions faster than competitors. (Related: Balancing Online and Print Catalogs)
The easiest to use website. Sometimes, the speediest and most convenient way to purchase something is by using the keyboard that’s right in front of you. If you are a business buyer, you already know Grainger is more likely to have what you need quickly vs. other distributors. You also know that Grainger.com is a particularly well-designed and easy to use website. Grainger has always been an e-commerce pioneer; the truth is that they are still in the lead. (Related: Grainger's E-Commerce Evolution)
Let’s wrap up by getting back to the question of how Grainger can be one of the largest distributors while executing what seems to be a niche strategy. Actually, it really is a niche strategy, but the niche is enormous in the extremely fragmented industry that makes up MRO. Every single business needs products quickly and conveniently and thus becomes a relevant target for Grainger’s value proposition. In an industry the size of MRO, which Grainger estimates at $125B in its 2009 Fact Book, they hold less than a 6 percent market share. So even in this “niche,” there’s a lot of room to grow.
Remember that “convenience” is also part of the equation. Sometimes even when customers are not in a hurry, it’s just more convenient to buy from Grainger. The company is more likely to have the product on hand, it’s clearly listed in their catalog or website, and they provide very friendly and competent service. All of these considerations make customers care less about price and more willing to buy from Grainger.
So there’s really nothing mysterious about what Grainger has done. The company has succeeded by serving “speed and convenience” needs for decades. What has changed over the last several years is the company’s willingness to focus on what it does best and get out of areas that don’t leverage its core competencies. This is the result of extremely high quality leadership that is likely to find new ways of enhancing its capabilities. That means Grainger will probably get even tougher in the future and expand its market share gradually but steadily.
Wednesday, April 28, 2010
5 Guaranteed Ways to Establish Your Reputation as an Expert in Your Field via Social Media
KB- as I delve more into learing about social media and personal branding I enjoyed Susans article below. it can be found @ http://ow.ly/1EwCv - Forbes.com link
April 28, 2010 - 4:26 pm
Susan Gunelius
Social media presents an incredible opportunity for professionals to establish their online reputations as experts in their fields. Using the free (or inexpensive) tools of the social Web, you can easily develop your online reputation as the go-to person in your field.
Following are five guaranteed ways to help you establish your own reputation as an expert in your field by leveraging the opportunities and tools available to you through social media and the social Web:
1. Publish shareworthy content.
The term I use to describe amazing online content that people find useful and share with their own social Web audiences via their blogs, Twitter, social networks, and so on is shareworthy. When you create and publish shareworthy content online, people find value in it and want to share it with their own online connections thereby increasing your online exposure to broad audiences and raising awareness of who you are and the knowledge you bring to the online conversation.
With that in mind, find the tools and media that you enjoy using to express yourself and start creating shareworthy content. For example, start a Google blog, use Twitter, Facebook, LinkedIn, and so on to publish your shareworthy content. Don't limit publishing to your own blog and profiles though. You can also write guest blog posts for other influential blogs and Web sites in your niche.
2. Go multimedia.
Shareworthy content isn't limited to written words. You can also create shareworthy content and share your knowledge and expertise via audio and video. For example, start an online talk show on Blog Talk Radio or a podcast on Blubrry (both tools enable you to upload your content to iTunes for further exposure and sharing). You can also create online video content and upload it to your own YouTube channel and other video publishing sites such as Tube Mogul, which enables you to automatically share your video content with a variety of other popular video sites.
3. Leverage the features of social media tools.
You can do more than publish shareworthyLinkedIn Answers. You should also request recommendations from your LinkedIn connections to boost your credibility.
4. Join organizations and groups that actively seek experts for media opportunities.
Sites like Profnet from PR Newswire and Help a Reporter Out (HARO) offer journalists, authors, and so on the ability to connect with experts in a wide variety of disciplines. Join both sites and respond to queries that enable you to offer your expertise and gain some publicity. You can also search LinkedIn groups and Facebook groups to find people interested in your area of expertise. When you find those groups, join them and actively participate in the conversations to demonstrate your expertise and add value.
5. Integrate and cross-promote your efforts.
Your social media efforts are more powerful if they're connected. Use tools like Facebook social plugins to integrate your Web site and blog with Facebook activities, and use tools like Twitterfeed to feed your blog to Twitter. You should take the time to feed your blog posts automatically to your Facebook profile and page as well as your LinkedIn profile and groups.
You can also use widgets and tools to promote your Facebook and Twitter content on your blog or website (Facebook widgets, Twitter widgets and buttons), and so on. Furthermore, add social media icons and links to your blog, Web site, online profiles, email signature, forum signature, and anywhere else you can think of to boost your visitors and connections.
The social Web offers a place where you can not only establish yourself as an expert in your field, but you can do so across a global audience. What are you waiting for?
kevin l brown - http://www.kbsinsight.blogspot.com/
April 28, 2010 - 4:26 pm
Susan Gunelius
Social media presents an incredible opportunity for professionals to establish their online reputations as experts in their fields. Using the free (or inexpensive) tools of the social Web, you can easily develop your online reputation as the go-to person in your field.
Following are five guaranteed ways to help you establish your own reputation as an expert in your field by leveraging the opportunities and tools available to you through social media and the social Web:
1. Publish shareworthy content.
The term I use to describe amazing online content that people find useful and share with their own social Web audiences via their blogs, Twitter, social networks, and so on is shareworthy. When you create and publish shareworthy content online, people find value in it and want to share it with their own online connections thereby increasing your online exposure to broad audiences and raising awareness of who you are and the knowledge you bring to the online conversation.
With that in mind, find the tools and media that you enjoy using to express yourself and start creating shareworthy content. For example, start a Google blog, use Twitter, Facebook, LinkedIn, and so on to publish your shareworthy content. Don't limit publishing to your own blog and profiles though. You can also write guest blog posts for other influential blogs and Web sites in your niche.
2. Go multimedia.
Shareworthy content isn't limited to written words. You can also create shareworthy content and share your knowledge and expertise via audio and video. For example, start an online talk show on Blog Talk Radio or a podcast on Blubrry (both tools enable you to upload your content to iTunes for further exposure and sharing). You can also create online video content and upload it to your own YouTube channel and other video publishing sites such as Tube Mogul, which enables you to automatically share your video content with a variety of other popular video sites.
3. Leverage the features of social media tools.
You can do more than publish shareworthyLinkedIn Answers. You should also request recommendations from your LinkedIn connections to boost your credibility.
4. Join organizations and groups that actively seek experts for media opportunities.
Sites like Profnet from PR Newswire and Help a Reporter Out (HARO) offer journalists, authors, and so on the ability to connect with experts in a wide variety of disciplines. Join both sites and respond to queries that enable you to offer your expertise and gain some publicity. You can also search LinkedIn groups and Facebook groups to find people interested in your area of expertise. When you find those groups, join them and actively participate in the conversations to demonstrate your expertise and add value.
5. Integrate and cross-promote your efforts.
Your social media efforts are more powerful if they're connected. Use tools like Facebook social plugins to integrate your Web site and blog with Facebook activities, and use tools like Twitterfeed to feed your blog to Twitter. You should take the time to feed your blog posts automatically to your Facebook profile and page as well as your LinkedIn profile and groups.
You can also use widgets and tools to promote your Facebook and Twitter content on your blog or website (Facebook widgets, Twitter widgets and buttons), and so on. Furthermore, add social media icons and links to your blog, Web site, online profiles, email signature, forum signature, and anywhere else you can think of to boost your visitors and connections.
The social Web offers a place where you can not only establish yourself as an expert in your field, but you can do so across a global audience. What are you waiting for?
kevin l brown - http://www.kbsinsight.blogspot.com/
Tuesday, April 27, 2010
HECTIC - as in running like hairs on fire!
Great weekend away sailing to San Diego. 180 boats slid down the coast from Newport! Good friends, good fun-fast boat! Dolphins (lots) and a really cool little bright green sparrow looking bird landed on the boat 10 miles from shore. Took a leisurely train ride home on Sunday to the family.
Big SSP client in town this week for a conference. Doing some work with some inkworksmarketing.com clients with Darlene this week and evaluating two other projects that have my plate REALLY full!
Trying to enhance my feeble grasp on social media/networking more this week as well. Hoping for some great workouts as well!
Have a great week everyone!
Big SSP client in town this week for a conference. Doing some work with some inkworksmarketing.com clients with Darlene this week and evaluating two other projects that have my plate REALLY full!
Trying to enhance my feeble grasp on social media/networking more this week as well. Hoping for some great workouts as well!
Have a great week everyone!
Friday, April 23, 2010
The 11 Commandments of Social Media
This is great stuff by Chris Street! Enjoy
by chris street on 04/21/2010 10:31 http://ow.ly/1Cd07
Categories: Social Media
It’s no longer enough to send out monthly newsletters or email campaigns to talk to potential customers – now we’re supposed to actually engage with them, talk to them, and respond to them in real-time across social media platforms.
The worst thing? You can’t escape it.
Facebook has more than 400 million users, Twitter accounts have increased by nearly 1,382% in the last 12-month period alone, whilst Technorati currently monitors more than 133 million blogs across the Internet. To survive online, social media involvement appears to be a must-have activity. Go where customers hang out.
There are, however, some basic considerations for effective social media engagement. Here’s my Top 10 Commandments for social media:
1. Thou shall not spam
Whatever you do, don’t spam your customers or target markets. They won’t appreciate a barrage of poorly-researched, irrelevant and inbox-clogging spam emails. Spamming inboxes – whether it’s company email addresses, Twitter accounts or Facebook will win zero brownie points and alienate you from any further contact. Once credibility is lost, it’s not coming back anytime soon, if ever.
Hyperlinking and acknowledging external sources on your blog makes common sense.
2. Thou shall not steal
Stealing links to stories, news items, funky new websites and wonderful products from another source and passing them off as your own is a huge social media no-no. For example, on Twitter the re-tweet or RT function is an essential part of Twitequette, whilst hyperlinking and acknowledging external sources on your blog makes common sense. It engages and links you with the world.
3. Thou shall not covet your competitor’s blog
One of the most unattractive and unprofessional social media rules to break is that of taking your competitor’s content, services, products and online offerings – and copying it. And there’s a lot of it about. After all, ideas and innovation do have a commercial value. Advice? Brainstorm and generate new products and services within your own creative Team instead. It’s actually good fun too!
If you sell directly to them via your social media channels, you’ll lose them. Instantly.
4. Thou shall not sell – anything, ever
The whole point of social media is to attract and engage an audience – hopefully a significant one – who will them promote your business on your behalf. Your audience are NOT there to sell to. They are there because they value your content, insights and advice. If you sell directly to them via your social media channels, you’ll lose them. Instantly. Play it smart – give, give, give. Never sell.
5. Thou shall not kill
Nothing is quite as bad in social media-land as an account which is established and then sits there. Dead. No content. Nothing contributed. Setting up a social media space, such as a Facebook fan page, Twitter feed, or company blog, and then not adding content to it regularly is a sure-fire way of killing your social media credibility in front of a global audience. Add content. Add value. Just add!
6. Thou shall not take the name of social media in vain
Remember that despite the fact social media can seem quite light-hearted, harmless and fun, your inputs on social media networks are on the web for Time Immorium. So be careful what you post. Add value, contribute to the flow of conversation. Think carefully before you post anything, anywhere, anytime, which can be viewed as an attack or negative comment in your industry.
7. Thou shall not commit adultery
Social media adultery can be committed without thinking, but the effect and long-term damage is hard to recover from. Because many social media networks operate on an informality level which standard marketing does not recognise, the rules of engagement are still the same. Remain professional, polite and polished at all times. Remember your social media content is your legacy.
Make sure you cater for your audience’s requirements, needs and wants.
8. Thou shall honour thy audience
Simple really – without an audience, your social media inputs are little more than an exercise in commercial vanity. Without followers, readers, commentators and fans of your social media content, being there is effectively a waste of your marketing budget and time. Make sure you cater for your audience’s requirements, needs and wants. It is, unfortunately, all about them. Always.
9. Thou shall not forget the Sabbath Day
So, you think social media is a Monday to Friday exercise? Afraid not. In our 24/7, always-on, on-demand culture, social media plays an essential part of the online marketing mix, and your inputs need to cover the full seven days of the week. The good news is that you can pre-schedule posts, tweets and social media content using established tools to maintain an ever-present presence.
10. Thou shall not worship any false Gods
What this means, essentially, is that just because an individual or company has oodles of followers or friends on a social media network, it doesn’t make them God. Challenge them, make them think, debate their content, get involved. This adds to your credibility and also hooks you into the audiences of the big players. Think of it as a subtle way of piggy-backing for exposure. Classic tactic.
11. Thou shall not forget Commandments 1-10
Simple really, this one: be mindful of Commandments 1-10.
Bristol Editor is a newsroom-trained media blogger, who has worked on daily newspapers across the region, launched online business sites for publishers, edited business magazines, and more recently developed social media services for companies and individuals across the wider UK.
by chris street on 04/21/2010 10:31 http://ow.ly/1Cd07
Categories: Social Media
It’s no longer enough to send out monthly newsletters or email campaigns to talk to potential customers – now we’re supposed to actually engage with them, talk to them, and respond to them in real-time across social media platforms.
The worst thing? You can’t escape it.
Facebook has more than 400 million users, Twitter accounts have increased by nearly 1,382% in the last 12-month period alone, whilst Technorati currently monitors more than 133 million blogs across the Internet. To survive online, social media involvement appears to be a must-have activity. Go where customers hang out.
There are, however, some basic considerations for effective social media engagement. Here’s my Top 10 Commandments for social media:
1. Thou shall not spam
Whatever you do, don’t spam your customers or target markets. They won’t appreciate a barrage of poorly-researched, irrelevant and inbox-clogging spam emails. Spamming inboxes – whether it’s company email addresses, Twitter accounts or Facebook will win zero brownie points and alienate you from any further contact. Once credibility is lost, it’s not coming back anytime soon, if ever.
Hyperlinking and acknowledging external sources on your blog makes common sense.
2. Thou shall not steal
Stealing links to stories, news items, funky new websites and wonderful products from another source and passing them off as your own is a huge social media no-no. For example, on Twitter the re-tweet or RT function is an essential part of Twitequette, whilst hyperlinking and acknowledging external sources on your blog makes common sense. It engages and links you with the world.
3. Thou shall not covet your competitor’s blog
One of the most unattractive and unprofessional social media rules to break is that of taking your competitor’s content, services, products and online offerings – and copying it. And there’s a lot of it about. After all, ideas and innovation do have a commercial value. Advice? Brainstorm and generate new products and services within your own creative Team instead. It’s actually good fun too!
If you sell directly to them via your social media channels, you’ll lose them. Instantly.
4. Thou shall not sell – anything, ever
The whole point of social media is to attract and engage an audience – hopefully a significant one – who will them promote your business on your behalf. Your audience are NOT there to sell to. They are there because they value your content, insights and advice. If you sell directly to them via your social media channels, you’ll lose them. Instantly. Play it smart – give, give, give. Never sell.
5. Thou shall not kill
Nothing is quite as bad in social media-land as an account which is established and then sits there. Dead. No content. Nothing contributed. Setting up a social media space, such as a Facebook fan page, Twitter feed, or company blog, and then not adding content to it regularly is a sure-fire way of killing your social media credibility in front of a global audience. Add content. Add value. Just add!
6. Thou shall not take the name of social media in vain
Remember that despite the fact social media can seem quite light-hearted, harmless and fun, your inputs on social media networks are on the web for Time Immorium. So be careful what you post. Add value, contribute to the flow of conversation. Think carefully before you post anything, anywhere, anytime, which can be viewed as an attack or negative comment in your industry.
7. Thou shall not commit adultery
Social media adultery can be committed without thinking, but the effect and long-term damage is hard to recover from. Because many social media networks operate on an informality level which standard marketing does not recognise, the rules of engagement are still the same. Remain professional, polite and polished at all times. Remember your social media content is your legacy.
Make sure you cater for your audience’s requirements, needs and wants.
8. Thou shall honour thy audience
Simple really – without an audience, your social media inputs are little more than an exercise in commercial vanity. Without followers, readers, commentators and fans of your social media content, being there is effectively a waste of your marketing budget and time. Make sure you cater for your audience’s requirements, needs and wants. It is, unfortunately, all about them. Always.
9. Thou shall not forget the Sabbath Day
So, you think social media is a Monday to Friday exercise? Afraid not. In our 24/7, always-on, on-demand culture, social media plays an essential part of the online marketing mix, and your inputs need to cover the full seven days of the week. The good news is that you can pre-schedule posts, tweets and social media content using established tools to maintain an ever-present presence.
10. Thou shall not worship any false Gods
What this means, essentially, is that just because an individual or company has oodles of followers or friends on a social media network, it doesn’t make them God. Challenge them, make them think, debate their content, get involved. This adds to your credibility and also hooks you into the audiences of the big players. Think of it as a subtle way of piggy-backing for exposure. Classic tactic.
11. Thou shall not forget Commandments 1-10
Simple really, this one: be mindful of Commandments 1-10.
Bristol Editor is a newsroom-trained media blogger, who has worked on daily newspapers across the region, launched online business sites for publishers, edited business magazines, and more recently developed social media services for companies and individuals across the wider UK.
Gettin Fired Up
Totally getting fired up to go sailing tomorrow. Weather, Wind and Tide forecasts are looking favorable. Fleet of competitors is stacking up well. GREAT, (read- GREAT) crew-5 instead of 7 or 8 so lots to do and out of control mayhem if weather goes bad! LOVE IT!
Hoping for a fast slide down the coast in the Border Run - Newport to San Diego (around Coronado Islands). Its been toooooo long!
Have a great weekend all!
Hoping for a fast slide down the coast in the Border Run - Newport to San Diego (around Coronado Islands). Its been toooooo long!
Have a great weekend all!
Time Mag- Facebook looks to get personal!
Facebook wants to make the Web more social, and in the process increase the information you're willing to share. That was the takeaway from founder Mark Zuckerberg's keynote address at Facebook's F8 developer conference on Wednesday, when the company rolled out a suite of new products it says can change the Web as much as the hyperlink did.
Currently, it's challenging for websites to know anything about you, your interests or your friends. That's good in some ways — privacy, for one — but bad in others: short of having, you know, a conversation, it's tricky to share with your friends what you're interested in and discover what they like too.
Facebook's Open Graph (the collective name for the products announced at F8) seeks to change that by, in essence, serving as an overarching, personal layer on top of the Web by incorporating your friends, interests and activities. Pages making use of Facebook's new technology aren't static: they know who you are, what you like and what your friends like. "We are building a Web where the default is social," Zuckerberg said.
It's a bit confusing in principle, but it's simple in implementation. Facebook wants all Web pages to have its "Like" button, which it released at the conference. (TIME.com implemented the buttons in advance — you can see one at the top of this page.) Each time you indicate that you like something, that information is fed back to Facebook and then to the website you're on. If enough of your friends like the same restaurant on Yelp, you'll see that on Yelp and when you log in to Facebook. Like this article? Click the button, and your friends may see your recommendation when they visit TIME.com.
This isn't completely a new idea, and it makes sense intuitively that if your friends like something, odds are, you'll be interested in checking it out. But Facebook has the mass and the technology to reach the entire Web. The company has more than 400 million users, and implementing the "Like" functionality requires just a few lines of code. Don't be surprised when you start seeing the buttons and your friends' pictures everywhere you go on the Web.
It's a disquieting notion for those critical of Facebook's privacy record. The company is already under fire in Germany for relaxing its privacy settings, and faces frequent complaints to the FCC about how much user data it surfaces. But for his part, Zuckerberg says there's no privacy change that comes with Open Graph: users have to click on a "Like" button for Facebook to learn anything about their preferences, and they still have the ability to select who is able to access this information.
But it's easy to see the potential windfall Facebook stands to make. The company already has a highly developed advertising platform, allowing advertisers to target users in narrowly defined demographics, like 20-year-old female juniors at the University of California, Berkeley, for example. If Facebook is suddenly able to tap into your preferences as well, the platform could be that much more powerful. While the company was tightlipped on any monetization plans going forward (no changes to the ad platform were announced), it could soon have the ability to target advertisements more narrowly than anyone else. Whether it actually will remains to be seen.
Another thing missing from Facebook's presentation was any talk of extending the Open Graph concept to the offline world. Despite the massive growth of location-based social sites like Foursquare and Gowalla and the heavy emphasis on attaching location to tweets at Twitter's Chirp conference last week — its version of Facebook's F8 conference — Zuckerberg did not mention any plans to incorporate map data into status updates or user data anytime soon.
But a potential clue to the company's plans was tucked into the registration material for F8. Each attendee received a plastic badge with radio-frequency identification, which they could use to post their location at the conference to Facebook, in a nifty application dubbed "Facebook Presence." Is this the company's next big thing? For now, it's one of the few pieces of information that even Facebook wants left off the grid.
Read more: http://www.time.com/time/business/article/0,8599,1983721,00.html#ixzz0lwoxNqE2
Currently, it's challenging for websites to know anything about you, your interests or your friends. That's good in some ways — privacy, for one — but bad in others: short of having, you know, a conversation, it's tricky to share with your friends what you're interested in and discover what they like too.
Facebook's Open Graph (the collective name for the products announced at F8) seeks to change that by, in essence, serving as an overarching, personal layer on top of the Web by incorporating your friends, interests and activities. Pages making use of Facebook's new technology aren't static: they know who you are, what you like and what your friends like. "We are building a Web where the default is social," Zuckerberg said.
It's a bit confusing in principle, but it's simple in implementation. Facebook wants all Web pages to have its "Like" button, which it released at the conference. (TIME.com implemented the buttons in advance — you can see one at the top of this page.) Each time you indicate that you like something, that information is fed back to Facebook and then to the website you're on. If enough of your friends like the same restaurant on Yelp, you'll see that on Yelp and when you log in to Facebook. Like this article? Click the button, and your friends may see your recommendation when they visit TIME.com.
This isn't completely a new idea, and it makes sense intuitively that if your friends like something, odds are, you'll be interested in checking it out. But Facebook has the mass and the technology to reach the entire Web. The company has more than 400 million users, and implementing the "Like" functionality requires just a few lines of code. Don't be surprised when you start seeing the buttons and your friends' pictures everywhere you go on the Web.
It's a disquieting notion for those critical of Facebook's privacy record. The company is already under fire in Germany for relaxing its privacy settings, and faces frequent complaints to the FCC about how much user data it surfaces. But for his part, Zuckerberg says there's no privacy change that comes with Open Graph: users have to click on a "Like" button for Facebook to learn anything about their preferences, and they still have the ability to select who is able to access this information.
But it's easy to see the potential windfall Facebook stands to make. The company already has a highly developed advertising platform, allowing advertisers to target users in narrowly defined demographics, like 20-year-old female juniors at the University of California, Berkeley, for example. If Facebook is suddenly able to tap into your preferences as well, the platform could be that much more powerful. While the company was tightlipped on any monetization plans going forward (no changes to the ad platform were announced), it could soon have the ability to target advertisements more narrowly than anyone else. Whether it actually will remains to be seen.
Another thing missing from Facebook's presentation was any talk of extending the Open Graph concept to the offline world. Despite the massive growth of location-based social sites like Foursquare and Gowalla and the heavy emphasis on attaching location to tweets at Twitter's Chirp conference last week — its version of Facebook's F8 conference — Zuckerberg did not mention any plans to incorporate map data into status updates or user data anytime soon.
But a potential clue to the company's plans was tucked into the registration material for F8. Each attendee received a plastic badge with radio-frequency identification, which they could use to post their location at the conference to Facebook, in a nifty application dubbed "Facebook Presence." Is this the company's next big thing? For now, it's one of the few pieces of information that even Facebook wants left off the grid.
Read more: http://www.time.com/time/business/article/0,8599,1983721,00.html#ixzz0lwoxNqE2
Thursday, April 22, 2010
Keys to a successful elevator pitch - Inc.com
http://ow.ly/1BRtf
The key to a successful elevator pitch. It's not about all the details; it's about simplicity. That's the advice offered by Steve Blank in a recent blog post. "[A]nyone can make a complicated idea sound complicated," he writes. "The art is making it sound simple, compelling and inevitable." Blank goes on to suggest explaining how the world will be a different place as a result of your product or service. Group gift-buying site eDivvy gives it a shot with an elevator pitch from our March issue.
http://www.inc.com/magazine/20100301/elevator-pitch-edivvy.html#
The key to a successful elevator pitch. It's not about all the details; it's about simplicity. That's the advice offered by Steve Blank in a recent blog post. "[A]nyone can make a complicated idea sound complicated," he writes. "The art is making it sound simple, compelling and inevitable." Blank goes on to suggest explaining how the world will be a different place as a result of your product or service. Group gift-buying site eDivvy gives it a shot with an elevator pitch from our March issue.
http://www.inc.com/magazine/20100301/elevator-pitch-edivvy.html#
Wednesday, April 21, 2010
8 Things You Should Know about Your Online Profiles
Social media has made our personal information not only public, but also very accessible to pretty much anyone with online access. This is great if you want your pals to be able to find you wherever you are at 9pm on Friday night or see you at the beach in your hot new swimsuit, but it’s not ideal when you’re trying to keep a low personal profile amidst employers, co-workers, or personal foes. Here are eight things you should know about online profiles that can help you optimize your professionalism and personal safety online.
1. LinkedIn is the new job recruiter.
This online professional networking site is much more than a way to keep up with where prior coworkers are employed. It’s also the one-stop-shop for recruiters who are literally combing the site everyday for people—possibly including you—with specific qualifications. It is now common practice for recruiters and companies to research possible job candidates on LinkedIn, which means your profile here should be perfectly polished and treated as your actual resume—because it is!
2. Even an online alias doesn’t mean you’re anonymous.
Think you’re keeping your information private by using a fake name or partial name? Think again! While an alias can help you remain anonymous online, personal information is often thinly veiled behind a clever pseudonym. A screen name, tag line, or other alias can actually reveal vital information, such as an address, birth date, maiden name, or age—all of which can be traced back to personal identity. It is especially important for kids to be careful of what kind of message their screen name sends because it can make them vulnerable to online predators. When creating a screen name, the general rule is to avoid using your age, birth date, or any information tied to your physical address or bank account.
3. Status updates can tip off the wrong people.
We take the time to ask neighbors to pick up our newspapers when we’re out of town; we install home security systems, and organize neighborhood watch systems. And yet we freely let the world know our exact location on Twitter, Foursquare, and Facebook. With a status along the lines of “Headed to a long vacation!” you might just be letting intruders know when best to rob your house of everything from your freshest spring décor to your chic patio furniture.
4. Government agencies can access even your “private” online information.
Even if you set your settings to maximum privacy, government agencies can still access your private pictures, information, statuses, and online friends’ information under the Patriot Act, so if you want to remain “under the radar,” keep your truly personal information offline.
5. Job recruiters browse Twitter and Facebook.
While LinkedIn may be where the pros browse your professional stats, the more socially driven social media sites are where prospective employers go to see what you’re really like. Negative comments, foul language, and party antics, when displayed online, can do more to hurt you than controversial comments from a past employer. So, make sure your Twitter feed, Facebook profile, personal blogs, and Google search results are consistent with the type of reputation you hope to keep.
6. Everyone can be/is a private investigator.
People no longer have to hire a professional Sherlock Holmes to find out your address, criminal record, salary, the price you paid for your home, where you work, your interests, or daily routines. There are search sites, such as Spokeo.com, that collate all the information ever posted on the internet with your name attached, making anyone with a computer a PI. Again, if you don’t want the world to know something about you, don’t put it into online words or images.
7. Privacy settings are constantly in flux.
Even if you have your Facebook settings set to private, what “private” actually means can change without notice. Keep abreast of the latest settings to make sure you’re in control of what information is available to others.
8. Your profile is not a safe place to vent.
Though we may call it cyberspace, the internet is not nearly as vague or anonymous as the “space” terminology we attach to it. With the rise of social media networks, the internet actually increases accountability and decreases anonymity—especially in the job search realm in which you could be questioned about every picture or status update. So next time you think about sending a negative thought or action into the “cosmic void,” ask yourself if you would say it to someone’s face. If the answer is “no,” then it doesn’t belong in the blogosphere either.
http://shine.yahoo.com/channel/life/8-things-you-should-know-about-your-online-profiles-1299552/
Kevin L. Brown
1. LinkedIn is the new job recruiter.
This online professional networking site is much more than a way to keep up with where prior coworkers are employed. It’s also the one-stop-shop for recruiters who are literally combing the site everyday for people—possibly including you—with specific qualifications. It is now common practice for recruiters and companies to research possible job candidates on LinkedIn, which means your profile here should be perfectly polished and treated as your actual resume—because it is!
2. Even an online alias doesn’t mean you’re anonymous.
Think you’re keeping your information private by using a fake name or partial name? Think again! While an alias can help you remain anonymous online, personal information is often thinly veiled behind a clever pseudonym. A screen name, tag line, or other alias can actually reveal vital information, such as an address, birth date, maiden name, or age—all of which can be traced back to personal identity. It is especially important for kids to be careful of what kind of message their screen name sends because it can make them vulnerable to online predators. When creating a screen name, the general rule is to avoid using your age, birth date, or any information tied to your physical address or bank account.
3. Status updates can tip off the wrong people.
We take the time to ask neighbors to pick up our newspapers when we’re out of town; we install home security systems, and organize neighborhood watch systems. And yet we freely let the world know our exact location on Twitter, Foursquare, and Facebook. With a status along the lines of “Headed to a long vacation!” you might just be letting intruders know when best to rob your house of everything from your freshest spring décor to your chic patio furniture.
4. Government agencies can access even your “private” online information.
Even if you set your settings to maximum privacy, government agencies can still access your private pictures, information, statuses, and online friends’ information under the Patriot Act, so if you want to remain “under the radar,” keep your truly personal information offline.
5. Job recruiters browse Twitter and Facebook.
While LinkedIn may be where the pros browse your professional stats, the more socially driven social media sites are where prospective employers go to see what you’re really like. Negative comments, foul language, and party antics, when displayed online, can do more to hurt you than controversial comments from a past employer. So, make sure your Twitter feed, Facebook profile, personal blogs, and Google search results are consistent with the type of reputation you hope to keep.
6. Everyone can be/is a private investigator.
People no longer have to hire a professional Sherlock Holmes to find out your address, criminal record, salary, the price you paid for your home, where you work, your interests, or daily routines. There are search sites, such as Spokeo.com, that collate all the information ever posted on the internet with your name attached, making anyone with a computer a PI. Again, if you don’t want the world to know something about you, don’t put it into online words or images.
7. Privacy settings are constantly in flux.
Even if you have your Facebook settings set to private, what “private” actually means can change without notice. Keep abreast of the latest settings to make sure you’re in control of what information is available to others.
8. Your profile is not a safe place to vent.
Though we may call it cyberspace, the internet is not nearly as vague or anonymous as the “space” terminology we attach to it. With the rise of social media networks, the internet actually increases accountability and decreases anonymity—especially in the job search realm in which you could be questioned about every picture or status update. So next time you think about sending a negative thought or action into the “cosmic void,” ask yourself if you would say it to someone’s face. If the answer is “no,” then it doesn’t belong in the blogosphere either.
http://shine.yahoo.com/channel/life/8-things-you-should-know-about-your-online-profiles-1299552/
Kevin L. Brown
Personal Branding
so many of us work hard to grow our products, company or services brand but think so little on their own brand. Who am I, What value do I bring, Who is my audience, Why does someone do business with me? These are all great questions to constantly be asking oneself as we define who we are. As a biz exec, father, wife, etc - we all have a 'brand'- WHATS YOURS?
I am working hard on mine! Let me know your thoughts!
I am working hard on mine! Let me know your thoughts!
How to Build a Remarkable Personal Brand
Bloggers are not simply writing blogs, nooo, they’re all personal brands, and that includes YOU ! Just writing great content isn’t enough anymore these days – you’ve got to treat yourself like a brand that’s in the hard game to win.
You are the company, the logo and the service.
Make sure it’s remarkable and kicks-ass – after all, you want your piece of the cake, right ?
Inhale those following tips and boost your own personal brand:
1- Build an epic mindset. You are going to dominate your part of the web, it’s not a choice, it’s your destiny. Great personal brands have great egos – maybe that’s what makes them great. Always leave the future open – you can (and will) do everything you want with your blog. Love your brand and your blog more than your mother ! If you don’t love your brand, no one else will !
2- Tweak your design. Most people say design isn’t that important. WRONG ! You don’t have to win any awards, but make sure that your design is really good and that it fits your brand values. I have worked countless hours on mine, and I can tell you, I’m getting messages every week that tell me how cool it is. A personal brand is an overall package, and your design is an important part of it.
3- Reinvent the way you blog. Great brands stand out – there’s no competition whatsoever ! Standing out means you DO NOT censor yourself, you come with creative ways of writing posts and you invent your own writing style. Deep down in your digital soul, you’re remarkable – sharpen those edges and feed them to your audience !
4- Face yourself. Well, not only yourself, but also your blog. Too many blogger hide behind their banner and posts, which is simply devastating ! Show us who you are – Use a real pic as your avatar, show some personal pictures on your about page and even better, use video (even one on your about page is sufficient.) If I don’t remember your face when I visit your blog, then you are doing something wrong!
5- Personalize.You know why it’s called a personal brand? Yep, because it’s PERSONAL. So, treat your brand like your best buddy. Don’t say “we” when you’re just a single person, always speak directly to your readers and openly admit your failures and victories. Make it so personal that your readers think of you as an old childhood friend ! This will establish an emotional connection between you and your audience, and that’s a big GO-GO when it comes to selling your stuff.
6- Promote your brand. A great brand is nothing without an audience. Your community is your blog’s life blood ! Common advice dictates that you should be everywhere – but that’s totally nuts. Instead, pick your favorite platforms (mine are Twitter and Facebook) and totally DOMINATE them. Use them like you breathe the air – 24/7 !
7- Rinse and repeat.
Wrap Up
You know it’s hard work, but you also know that it’s ridiculous fun and that you don’t have any other choice ! Becoming a remarkable personal brand will set you worlds apart from your competitors, and maybe, just maybe it will ensure you a throne in the heaven of internet legacy !
How do you treat your personal brand, and what do you do to maximize its impact ??
By
http://www.marsdorian.com/
Kevin L. Brown
You are the company, the logo and the service.
Make sure it’s remarkable and kicks-ass – after all, you want your piece of the cake, right ?
Inhale those following tips and boost your own personal brand:
1- Build an epic mindset. You are going to dominate your part of the web, it’s not a choice, it’s your destiny. Great personal brands have great egos – maybe that’s what makes them great. Always leave the future open – you can (and will) do everything you want with your blog. Love your brand and your blog more than your mother ! If you don’t love your brand, no one else will !
2- Tweak your design. Most people say design isn’t that important. WRONG ! You don’t have to win any awards, but make sure that your design is really good and that it fits your brand values. I have worked countless hours on mine, and I can tell you, I’m getting messages every week that tell me how cool it is. A personal brand is an overall package, and your design is an important part of it.
3- Reinvent the way you blog. Great brands stand out – there’s no competition whatsoever ! Standing out means you DO NOT censor yourself, you come with creative ways of writing posts and you invent your own writing style. Deep down in your digital soul, you’re remarkable – sharpen those edges and feed them to your audience !
4- Face yourself. Well, not only yourself, but also your blog. Too many blogger hide behind their banner and posts, which is simply devastating ! Show us who you are – Use a real pic as your avatar, show some personal pictures on your about page and even better, use video (even one on your about page is sufficient.) If I don’t remember your face when I visit your blog, then you are doing something wrong!
5- Personalize.You know why it’s called a personal brand? Yep, because it’s PERSONAL. So, treat your brand like your best buddy. Don’t say “we” when you’re just a single person, always speak directly to your readers and openly admit your failures and victories. Make it so personal that your readers think of you as an old childhood friend ! This will establish an emotional connection between you and your audience, and that’s a big GO-GO when it comes to selling your stuff.
6- Promote your brand. A great brand is nothing without an audience. Your community is your blog’s life blood ! Common advice dictates that you should be everywhere – but that’s totally nuts. Instead, pick your favorite platforms (mine are Twitter and Facebook) and totally DOMINATE them. Use them like you breathe the air – 24/7 !
7- Rinse and repeat.
Wrap Up
You know it’s hard work, but you also know that it’s ridiculous fun and that you don’t have any other choice ! Becoming a remarkable personal brand will set you worlds apart from your competitors, and maybe, just maybe it will ensure you a throne in the heaven of internet legacy !
How do you treat your personal brand, and what do you do to maximize its impact ??
By
http://www.marsdorian.com/
Kevin L. Brown
Work-Life Balance Digitally Destroyed
One in Three Permanently Connected to Employer
BY Kit Eaton- Fast Company
If you're the sort who takes a sneaky peek at your work email on your BlackBerry while in the bar with pals in the evening, don't feel too guilty.
Web conferencing company InterCall (arguably biased toward reporting people are connected more to work) reports that 30% of U.S. workers who employ technology as part of their jobs feel the need to maintain a digital link to their employer at all times. Weekends and vacations, too. It's not even just about curiosity or misplaced work-place loyalty--25% of employees say that they feel like their job security depends on remaining available digitally beyond normal office hours, and 17% say that if they don't check in while on leave, they'll suffer management's displeasure. Furthermore, 50% of survey respondents said that arranging time off work was becoming much harder.
Can you say "CrackBerry" and "iPhoneaddiction?" And can you add on "Bye-bye any notion of work-life balance" just for good measure? One in three people is basically sacrificing their entire life (in a small, but nonetheless meaningful) way to their employer, which really is pushing the "live to work" saying to its limits. While it's understandable that the recession has strained companies to the point that they'd prefer staff not to take too much leave--particularly as we begin to move into a better economic climate--which explains one of these figures, one in four people are still worried about job security to the degree that they're permanently reachable online.
Technology is supposed to facilitate one's work experience, making tasks smoother and more efficient, not push work so far beyond a traditional 9-5 office-based lifestyle. The way some employers question employee loyalty, or even make hiring and firing decisions based on Facebook data about staff's private lives outside the office is already worrying. And when you blend in the recent controversy about a school disciplining its students about activities carried out in private at home, monitored through school laptops, the alarm bells are roaring. Isn't it time to tell your company that your life is your life, and work-based tech should be kept at work?
http://www.fastcompany.com/1622778/work-life-balance-connected-smartphones-recession-blackberry-iphone-rim-apple
By Kevin L. Brown
BY Kit Eaton- Fast Company
If you're the sort who takes a sneaky peek at your work email on your BlackBerry while in the bar with pals in the evening, don't feel too guilty.
Web conferencing company InterCall (arguably biased toward reporting people are connected more to work) reports that 30% of U.S. workers who employ technology as part of their jobs feel the need to maintain a digital link to their employer at all times. Weekends and vacations, too. It's not even just about curiosity or misplaced work-place loyalty--25% of employees say that they feel like their job security depends on remaining available digitally beyond normal office hours, and 17% say that if they don't check in while on leave, they'll suffer management's displeasure. Furthermore, 50% of survey respondents said that arranging time off work was becoming much harder.
Can you say "CrackBerry" and "iPhoneaddiction?" And can you add on "Bye-bye any notion of work-life balance" just for good measure? One in three people is basically sacrificing their entire life (in a small, but nonetheless meaningful) way to their employer, which really is pushing the "live to work" saying to its limits. While it's understandable that the recession has strained companies to the point that they'd prefer staff not to take too much leave--particularly as we begin to move into a better economic climate--which explains one of these figures, one in four people are still worried about job security to the degree that they're permanently reachable online.
Technology is supposed to facilitate one's work experience, making tasks smoother and more efficient, not push work so far beyond a traditional 9-5 office-based lifestyle. The way some employers question employee loyalty, or even make hiring and firing decisions based on Facebook data about staff's private lives outside the office is already worrying. And when you blend in the recent controversy about a school disciplining its students about activities carried out in private at home, monitored through school laptops, the alarm bells are roaring. Isn't it time to tell your company that your life is your life, and work-based tech should be kept at work?
http://www.fastcompany.com/1622778/work-life-balance-connected-smartphones-recession-blackberry-iphone-rim-apple
By Kevin L. Brown
Tuesday, April 20, 2010
Could this be the start of the end for Groupon?
IncMagazine Groupon to start requiring companies to honor gift certificates for five years: http://ow.ly/1ANvL
How To Implement a Profit Sharing Plan
INC.MAG- http://ow.ly/1ArTl
How to create a profit sharing plan that motivates your employees and drives revenue.
By Peter Vanden Bos | Apr 19, 2010
A smart CEO understands that employee performance is tied directly to how vested they feel to the company they work for. That's why many companies have begun to consider profit sharing plans, because they can be a powerful incentive for employees to work harder for the company and gain a sense of satisfaction from knowing they'll all get a cut of the profits. It's also likely that the added productivity will increase the overall financial performance of the company.
Sue Holloway, an expert in compensation at WorldatWork, a human resources organization focused on employee benefits, explains that the objective of a profit sharing plan "is to foster employee identification with the organization's success." By implementing such a program, the CEO is saying, "We're all in this together, and everybody's focused on profit," says Holloway.
Recent statistics show just how popular variable pay programs, including profit sharing plans, have become. Eighty percent of businesses surveyed by WorldatWork reported having some sort of incentive or bonus program in 2009. So how do you make sure your plan will achieve financial results for your company, while increasing employee productivity and morale?
First, make sure you're profitable. And make sure you expect to continue making money for at least the next three years, to the best of what you can anticipate, says David Wray, president of the Profit Sharing/401k Council of America, a national nonprofit association of 1,200 companies committed to those employee benefits. "If you announce the plan and you have no profit sharing for a couple of years, it loses its credibility as a motivating force," Wray explains. "If you have a bad year and you don't pay that year, then people usually get it."
If you are profitable, here's what you need to consider when choosing and implementing a successful profit sharing plan.
Implementing a Profit Sharing Plan: Determine Your Purpose
The most important step in implementing a successful profit sharing plan is to have a clear idea of what you want to accomplish through the initiative. Various plans serve very particular purposes. Traditional profit sharing plans are designed as a retirement benefit. Employers contribute a specific, predetermined amount of their annual profits into a deferred trust, which the employees earn access to upon retirement from the company. This type of profit sharing plan suits companies with an aging workforce. You can achieve higher participation in a deferred profit sharing plan, if most of your workers are considering how they will fund their retirements. If you're looking to attract top-level senior executives, a deferred profit sharing plan can lure talented executive recruits, and also keep them working for you longer, as they will not be able to achieve full ownership of their trust until a specific date. And if you have a 401(k) program already in place, many employers combine that trust with their profit sharing plan and save on administrative costs.
If you're simply looking for a way to motivate your employees, a traditional, deferred profit sharing plan may not be the easiest way, says human resources specialist and a compensation expert Roberta Matuson, founder and president of Human Resource Solutions located in Northampton, Massachusetts. It requires a fair amount of paper work and is subject to regulation by the IRS. You are allowed to decide on a yearly basis what amount you want to contribute, or if you want to contribute at all, but the maximum annual contribution is $49,000, or 25 percent of an employee's compensation. There are also rules concerning who's eligible: 70 percent of your work force between the ages of 21 and 65, with one year of service, must participate, although there are some exceptions. An annual filing of the 5500 Form is also usually required, vesting is regulated, and the plan must not favor higher-compensated employees.
Your other choice is a cash profit sharing plan, which is not a retirement plan, and has become increasingly common. In this plan, an employee's predetermined share of the profits is paid directly in cash or check (sometimes stock), and those bonuses are taxed as a part of an employee's overall wages (unlike a deferred plan). Employers have a lot more leeway to establish the rules for their program and to determine who's eligible and how much they are paid out of the profits. The cash plan also typically appeals to a younger-skewing workforce, or one that tends to live paycheck to paycheck.
Implementing a Profit Sharing Plan: Drafting a Comprehensive Plan
Any successful plan will have clearly defined written terms, but there's plenty to consider when drafting the document. "What I've found with profit sharing programs, is that if they're not really thought through, they can become a huge negative," Matuson says. One way to avoid this is to make sure you solicit input not only from the experts, but also from within. Include all sectors of your company in the discussion, as they'll all be getting a share of the profits. The process of drafting your profit sharing plan is highly individual and should cater to your company's individual needs and goals. Some of the most successful profit sharing and bonus programs have evolved each year as the CEOs of those companies fine tune different aspects of the plans that aren't working each year.
You need to decide upon the formula in which you will allocate the profits among employees. For example, it's typical for companies to determine that 10 to 15 percent of their pre-tax profits will be eligible for distribution. "Every company has to look at their own way of operating and recognize their own realities," Wray says. "You have to look hard at your balance sheet and income." You also might want to consider setting a specific revenue target to meet in order to contribute to the profit sharing pool. Think about your shareholders too, and make sure that you still have enough earnings to allow for the company to increase in value.
Another issue to decide beforehand is the eligibility of your employees. Some profit sharing plans are only targeted toward the management level, although a deferred plan requires the eligibility of all employees. How much each employee earns, as a percentage of their compensation, can also be different with the cash plan. Although, make sure the percentages are equal if you choose a deferred plan, as you will be subject to annual nondiscrimination testing by the IRS.
Jack Stack, CEO of Springfield, Missouri, based remanufacturer SRC Holdings and co-author with Bo Burlingham of A Stake in the Outcome: Building a Culture of Ownership for the Long-Term Success of Your Business, has a bonus plan similar to a cash profit sharing plan. He allocates a slightly different maximum for hourly and salaried employees. And while distribution of profits usually occurs annually, it doesn't always have to: he distributes quarterly, which serves as a more immediate reminder of the benefits of the program for employees.
You also want to consider how employees who leave the company before the allocation date will be paid, if at all. Many plans have provisions that require employment at the time of allocation to receive profits, so that you aren't giving a share of your profits to someone who quit nine months prior. Ari Weinzweig, CEO of the Zingerman's Community of Businesses, an Ann Arbor, Michigan-based group of local food specialty businesses, learned to specify that, in order for employees to be paid under the group's plan, the business would need to have cash available, because profitable years can occur with restricted cash flow.
Choose your vesting schedule: whether you want employees to acquire gradual ownership, or whether you want to set a certain date in which they receive 100 percent of their trust. And finally, if you select a deferred profit sharing plan, make sure you fill out the proper documentation for the IRS and follow their guidelines.
How to create a profit sharing plan that motivates your employees and drives revenue.
By Peter Vanden Bos | Apr 19, 2010
A smart CEO understands that employee performance is tied directly to how vested they feel to the company they work for. That's why many companies have begun to consider profit sharing plans, because they can be a powerful incentive for employees to work harder for the company and gain a sense of satisfaction from knowing they'll all get a cut of the profits. It's also likely that the added productivity will increase the overall financial performance of the company.
Sue Holloway, an expert in compensation at WorldatWork, a human resources organization focused on employee benefits, explains that the objective of a profit sharing plan "is to foster employee identification with the organization's success." By implementing such a program, the CEO is saying, "We're all in this together, and everybody's focused on profit," says Holloway.
Recent statistics show just how popular variable pay programs, including profit sharing plans, have become. Eighty percent of businesses surveyed by WorldatWork reported having some sort of incentive or bonus program in 2009. So how do you make sure your plan will achieve financial results for your company, while increasing employee productivity and morale?
First, make sure you're profitable. And make sure you expect to continue making money for at least the next three years, to the best of what you can anticipate, says David Wray, president of the Profit Sharing/401k Council of America, a national nonprofit association of 1,200 companies committed to those employee benefits. "If you announce the plan and you have no profit sharing for a couple of years, it loses its credibility as a motivating force," Wray explains. "If you have a bad year and you don't pay that year, then people usually get it."
If you are profitable, here's what you need to consider when choosing and implementing a successful profit sharing plan.
Implementing a Profit Sharing Plan: Determine Your Purpose
The most important step in implementing a successful profit sharing plan is to have a clear idea of what you want to accomplish through the initiative. Various plans serve very particular purposes. Traditional profit sharing plans are designed as a retirement benefit. Employers contribute a specific, predetermined amount of their annual profits into a deferred trust, which the employees earn access to upon retirement from the company. This type of profit sharing plan suits companies with an aging workforce. You can achieve higher participation in a deferred profit sharing plan, if most of your workers are considering how they will fund their retirements. If you're looking to attract top-level senior executives, a deferred profit sharing plan can lure talented executive recruits, and also keep them working for you longer, as they will not be able to achieve full ownership of their trust until a specific date. And if you have a 401(k) program already in place, many employers combine that trust with their profit sharing plan and save on administrative costs.
If you're simply looking for a way to motivate your employees, a traditional, deferred profit sharing plan may not be the easiest way, says human resources specialist and a compensation expert Roberta Matuson, founder and president of Human Resource Solutions located in Northampton, Massachusetts. It requires a fair amount of paper work and is subject to regulation by the IRS. You are allowed to decide on a yearly basis what amount you want to contribute, or if you want to contribute at all, but the maximum annual contribution is $49,000, or 25 percent of an employee's compensation. There are also rules concerning who's eligible: 70 percent of your work force between the ages of 21 and 65, with one year of service, must participate, although there are some exceptions. An annual filing of the 5500 Form is also usually required, vesting is regulated, and the plan must not favor higher-compensated employees.
Your other choice is a cash profit sharing plan, which is not a retirement plan, and has become increasingly common. In this plan, an employee's predetermined share of the profits is paid directly in cash or check (sometimes stock), and those bonuses are taxed as a part of an employee's overall wages (unlike a deferred plan). Employers have a lot more leeway to establish the rules for their program and to determine who's eligible and how much they are paid out of the profits. The cash plan also typically appeals to a younger-skewing workforce, or one that tends to live paycheck to paycheck.
Implementing a Profit Sharing Plan: Drafting a Comprehensive Plan
Any successful plan will have clearly defined written terms, but there's plenty to consider when drafting the document. "What I've found with profit sharing programs, is that if they're not really thought through, they can become a huge negative," Matuson says. One way to avoid this is to make sure you solicit input not only from the experts, but also from within. Include all sectors of your company in the discussion, as they'll all be getting a share of the profits. The process of drafting your profit sharing plan is highly individual and should cater to your company's individual needs and goals. Some of the most successful profit sharing and bonus programs have evolved each year as the CEOs of those companies fine tune different aspects of the plans that aren't working each year.
You need to decide upon the formula in which you will allocate the profits among employees. For example, it's typical for companies to determine that 10 to 15 percent of their pre-tax profits will be eligible for distribution. "Every company has to look at their own way of operating and recognize their own realities," Wray says. "You have to look hard at your balance sheet and income." You also might want to consider setting a specific revenue target to meet in order to contribute to the profit sharing pool. Think about your shareholders too, and make sure that you still have enough earnings to allow for the company to increase in value.
Another issue to decide beforehand is the eligibility of your employees. Some profit sharing plans are only targeted toward the management level, although a deferred plan requires the eligibility of all employees. How much each employee earns, as a percentage of their compensation, can also be different with the cash plan. Although, make sure the percentages are equal if you choose a deferred plan, as you will be subject to annual nondiscrimination testing by the IRS.
Jack Stack, CEO of Springfield, Missouri, based remanufacturer SRC Holdings and co-author with Bo Burlingham of A Stake in the Outcome: Building a Culture of Ownership for the Long-Term Success of Your Business, has a bonus plan similar to a cash profit sharing plan. He allocates a slightly different maximum for hourly and salaried employees. And while distribution of profits usually occurs annually, it doesn't always have to: he distributes quarterly, which serves as a more immediate reminder of the benefits of the program for employees.
You also want to consider how employees who leave the company before the allocation date will be paid, if at all. Many plans have provisions that require employment at the time of allocation to receive profits, so that you aren't giving a share of your profits to someone who quit nine months prior. Ari Weinzweig, CEO of the Zingerman's Community of Businesses, an Ann Arbor, Michigan-based group of local food specialty businesses, learned to specify that, in order for employees to be paid under the group's plan, the business would need to have cash available, because profitable years can occur with restricted cash flow.
Choose your vesting schedule: whether you want employees to acquire gradual ownership, or whether you want to set a certain date in which they receive 100 percent of their trust. And finally, if you select a deferred profit sharing plan, make sure you fill out the proper documentation for the IRS and follow their guidelines.
Small Biz Tools from Inc.com
Inc.com has more than 100 free tools that are available to Inc.com members. From sample policies and agreements to worksheets and checklists, Inc.com has tools to help you in every area of your business. http://www.inc.com/tools#
The Border Run
Looking forward to a nice "slide" down the coast this Saturday! Newport Beach to San Diego! 200 sailboats racing to San Diego! Should be a blast! While I havent been racing much in last few years this years race is with some old and great friends on a fun boat! http://www.theborderrun.org/ !
Have always loved the classic Newport to Ensenada Race and will get back to doing that race when/if things get better in Baja but for now a nice weekend to San Diego will do just fine! After 15 or so Newport Ensenada Races The Border Run will be different but hey-I will be sailing!
Have always loved the classic Newport to Ensenada Race and will get back to doing that race when/if things get better in Baja but for now a nice weekend to San Diego will do just fine! After 15 or so Newport Ensenada Races The Border Run will be different but hey-I will be sailing!
Monday, April 19, 2010
Facebook Surpasses Google in Business Traffic
by Krishna De on 04/18/2010 05:26 2 comments , 5469 views
http://ow.ly/1AcEs
Do you allow your employees to access social networking sites at work?
I meet PR professionals and marketing managers each week who can not access Facebook from their work computer as it has been blocked. I also see that in some organisations there is an area often near the reception or staff restaurant where certain PC’s have been allowed access to social networking sites.
Yet other organisations I meet allow all of their staff to access social networking sites from their work computer as they are confident in their firewall and they have clear codes of conduct, social media policies and a culture that is about their staff delivering against their goals so that it’s the outcome that matters. I am not advocating one approach over another – it does depend on the culture and readiness of the organisation. In my experiecne however there is often no connection between the IT department, the HR department and the Marketing and Sales Departments in terms of a rigourous and healthy debate about what is relevant for the organisation and their people.
This week some research was published by Network Box a managed securites company who researched 250 IT managers (it’s unclear about the geography or sector they were from) about their biggest security concerns in the year ahead. The top answer was “employees using applications on social networks” while at work, with 43 per cent of respondents saying this is a major concern.
In a separate question, 36 per cent of respondents commented that they are concerned about malware passed via networks such as LinkedIn or Twitter, and employees trusting (and clicking on) links sent by contacts within their networks. The research also notes that more business internet traffic goes to Facebook than to any other Internet site – the analysis of 13 billion URL’s used by businesses in the first quarter of 2010 indicated that 6.8 per cent of all business internet traffic goes to Facebook – an increase of one per cent since the last quarter of 2009.
The research also indicated that 10 per cent of all corporate bandwidth is taken up watching YouTube videos, an increase of two per cent since the last quarter of 2009.
The top five websites visited by businesses in Q1 2010 were:
1. Facebook – 6.8 per cent of all traffic
2. Google – 3.4 per cent of all traffic
3. Yimg (Yahoo!’s image server) – 2.8 per cent of all traffic
4. Yahoo! – 2.4 per cent of all traffic
5. Doubleclick – 1.7 per cent of all traffic.
The top five websites using the most bandwith in Q1 2010 were:
1. YouTube – 10 per cent of all bandwidth used
2. Facebook – 4.5 per cent of all bandwidth used
3. Windows Update – 3.3 per cent of all bandwidth used
4. Yimg (Yahoo!’s image server) – 2.7 per cent of all bandwidth used
5. Google – 2.5 per cent of all bandwidth used.
It’s great to have the statistics, but then what? Will this data be quoted by business managers saying there is a need to restrict access to the Internet from the PC’s in the office? Is that like saying you have to go through the office switchboard to make a phone call? Won’t staff just find other ways of searching the Internet such as through their mobile phone?
And by restricting access are we restricting innovation?
http://ow.ly/1AcEs
Do you allow your employees to access social networking sites at work?
I meet PR professionals and marketing managers each week who can not access Facebook from their work computer as it has been blocked. I also see that in some organisations there is an area often near the reception or staff restaurant where certain PC’s have been allowed access to social networking sites.
Yet other organisations I meet allow all of their staff to access social networking sites from their work computer as they are confident in their firewall and they have clear codes of conduct, social media policies and a culture that is about their staff delivering against their goals so that it’s the outcome that matters. I am not advocating one approach over another – it does depend on the culture and readiness of the organisation. In my experiecne however there is often no connection between the IT department, the HR department and the Marketing and Sales Departments in terms of a rigourous and healthy debate about what is relevant for the organisation and their people.
This week some research was published by Network Box a managed securites company who researched 250 IT managers (it’s unclear about the geography or sector they were from) about their biggest security concerns in the year ahead. The top answer was “employees using applications on social networks” while at work, with 43 per cent of respondents saying this is a major concern.
In a separate question, 36 per cent of respondents commented that they are concerned about malware passed via networks such as LinkedIn or Twitter, and employees trusting (and clicking on) links sent by contacts within their networks. The research also notes that more business internet traffic goes to Facebook than to any other Internet site – the analysis of 13 billion URL’s used by businesses in the first quarter of 2010 indicated that 6.8 per cent of all business internet traffic goes to Facebook – an increase of one per cent since the last quarter of 2009.
The research also indicated that 10 per cent of all corporate bandwidth is taken up watching YouTube videos, an increase of two per cent since the last quarter of 2009.
The top five websites visited by businesses in Q1 2010 were:
1. Facebook – 6.8 per cent of all traffic
2. Google – 3.4 per cent of all traffic
3. Yimg (Yahoo!’s image server) – 2.8 per cent of all traffic
4. Yahoo! – 2.4 per cent of all traffic
5. Doubleclick – 1.7 per cent of all traffic.
The top five websites using the most bandwith in Q1 2010 were:
1. YouTube – 10 per cent of all bandwidth used
2. Facebook – 4.5 per cent of all bandwidth used
3. Windows Update – 3.3 per cent of all bandwidth used
4. Yimg (Yahoo!’s image server) – 2.7 per cent of all bandwidth used
5. Google – 2.5 per cent of all bandwidth used.
It’s great to have the statistics, but then what? Will this data be quoted by business managers saying there is a need to restrict access to the Internet from the PC’s in the office? Is that like saying you have to go through the office switchboard to make a phone call? Won’t staff just find other ways of searching the Internet such as through their mobile phone?
And by restricting access are we restricting innovation?
M&A Outlook Looks Up
By Jenel Stelton-Holtmeier
http://www.mdm.com/mergers-acquisitions/2010/04/15/ma-outlook-looks-up/PARAMS/post/25861
April 15, 2010
2009 was a quiet year for mergers and acquisitions. While there were some big deals - US LBM Holdings comes to mind as one of the most active players - for the most part, companies were holding off on making major investments.
But, according to a recent survey from Brunswick Group LLC, 2010 is setting up to be completely different. The survey, which polled market participants in the M&A community including banker, lawyers and other advisors, revealed that 78% of respondents expect M&A activity to increase, while 22% expect it to stay the same.
And venture-backed activity has already picked, with the National Venture Capital Association and Thomson Reuters reporting 111 venture-backed M&A deals in the first quarter, nearly double the activity of a year ago. Four of those deals were in the Industrial/Energy sectors.
Why the drastic change? CEO and board confidence has improved, say respondents to the Brunswick survey. And credit availability is beginning to open up some.
"This year's results reveal a substantial change in sentiment in the M&A world and advisors appear to be quite optimistic that the deal activity we've seen in the first quarter of the year will continue and potentially accelerate during the remainder of 2010," said Steven Lipin, senior partner, Brunswick Group. "While it may be premature to sing Bon Temps Rouler, overall the community is feeling much more positive."
http://www.mdm.com/mergers-acquisitions/2010/04/15/ma-outlook-looks-up/PARAMS/post/25861
April 15, 2010
2009 was a quiet year for mergers and acquisitions. While there were some big deals - US LBM Holdings comes to mind as one of the most active players - for the most part, companies were holding off on making major investments.
But, according to a recent survey from Brunswick Group LLC, 2010 is setting up to be completely different. The survey, which polled market participants in the M&A community including banker, lawyers and other advisors, revealed that 78% of respondents expect M&A activity to increase, while 22% expect it to stay the same.
And venture-backed activity has already picked, with the National Venture Capital Association and Thomson Reuters reporting 111 venture-backed M&A deals in the first quarter, nearly double the activity of a year ago. Four of those deals were in the Industrial/Energy sectors.
Why the drastic change? CEO and board confidence has improved, say respondents to the Brunswick survey. And credit availability is beginning to open up some.
"This year's results reveal a substantial change in sentiment in the M&A world and advisors appear to be quite optimistic that the deal activity we've seen in the first quarter of the year will continue and potentially accelerate during the remainder of 2010," said Steven Lipin, senior partner, Brunswick Group. "While it may be premature to sing Bon Temps Rouler, overall the community is feeling much more positive."
Inaugural New York to Barcelona Race Setting Transatlantic Sailing Record
When traveling from New York to Barcelona, 15 days would hardly seem like record time, unless the mode of transport was sailing.
The first New York to Barcelona transoceanic sailing record is now underway and the two competing boats are expected to arrive in the Spanish port city this week.
The 3,750 nautical mile race between one American and one Spanish sponsored boat will establish an official sailing record between the cities.The two part event included a warm-up regatta in New York harbor on April 3 in which each boat won one race. The official record began on April 8 and while the the estimated race time was 18 to 22 days, the race has been proceeding at a faster pace, and the boats are already along the Spanish coast with a projected total travel time of 15 days.
The race aims to strengthen partnerships between the cities, and each boat has two Spanish and one American crew member on board. The idea for the event came about because there is no official sailing record between New York City and Barcelona. Since both are cosmopolitan cities, cultural centers and major ports, they were natural choices to participate.
Josep Gonzalez is project manager at Fundacio Navegado Oceanica Barcelona, one of the main organizers. He explained during an interview before the regatta, “The goal is to promote both cities as destinations for international sports events and tourism. In the longer term we want to encourage adults’ and children’s interest in sailing. We’re trying to position the sport as an alternative to soccer, which is so popular.”
The boats’ two sponsors are W Hotels, Starwood’s boutique hotel brand based in New York, and Estrella Damm, a beer brand produced by S.A. Damm, a Barcelona brewery. According to Gonzalez, “Both sponsors were attracted to sailing because the sport protects the environment.”
The race’s daily progress seems closer than usual, thanks to the extensive use of digital technology. Various interactive tools are being used in an effort to keep the media informed and to teach school children about sailing. The Web site, www.ny-bcn.org, will provide the latest race updates. The sailors are also Twittering from the boats (http://twitter.com/RecordNYBCN).
In addition, Gonzalez said “There will be daily video-conferences between the crew and the media as well as between the sailors and students. Online spectators will be able to see what’s happening on the boats in real-time, including any problems the sailors experience along the route.” They can also follow the race on Facebook.
After all the preparation, Gonzalez is not overly concerned about nature’s impact on the race. He said, “The weather may be an issue, but that’s part of sailing.”
By Nancy Lazarus for PeterGreenberg.com. Visit Nancy on the Web at www.nlmarketresearch.com.
The first New York to Barcelona transoceanic sailing record is now underway and the two competing boats are expected to arrive in the Spanish port city this week.
The 3,750 nautical mile race between one American and one Spanish sponsored boat will establish an official sailing record between the cities.The two part event included a warm-up regatta in New York harbor on April 3 in which each boat won one race. The official record began on April 8 and while the the estimated race time was 18 to 22 days, the race has been proceeding at a faster pace, and the boats are already along the Spanish coast with a projected total travel time of 15 days.
The race aims to strengthen partnerships between the cities, and each boat has two Spanish and one American crew member on board. The idea for the event came about because there is no official sailing record between New York City and Barcelona. Since both are cosmopolitan cities, cultural centers and major ports, they were natural choices to participate.
Josep Gonzalez is project manager at Fundacio Navegado Oceanica Barcelona, one of the main organizers. He explained during an interview before the regatta, “The goal is to promote both cities as destinations for international sports events and tourism. In the longer term we want to encourage adults’ and children’s interest in sailing. We’re trying to position the sport as an alternative to soccer, which is so popular.”
The boats’ two sponsors are W Hotels, Starwood’s boutique hotel brand based in New York, and Estrella Damm, a beer brand produced by S.A. Damm, a Barcelona brewery. According to Gonzalez, “Both sponsors were attracted to sailing because the sport protects the environment.”
The race’s daily progress seems closer than usual, thanks to the extensive use of digital technology. Various interactive tools are being used in an effort to keep the media informed and to teach school children about sailing. The Web site, www.ny-bcn.org, will provide the latest race updates. The sailors are also Twittering from the boats (http://twitter.com/RecordNYBCN).
In addition, Gonzalez said “There will be daily video-conferences between the crew and the media as well as between the sailors and students. Online spectators will be able to see what’s happening on the boats in real-time, including any problems the sailors experience along the route.” They can also follow the race on Facebook.
After all the preparation, Gonzalez is not overly concerned about nature’s impact on the race. He said, “The weather may be an issue, but that’s part of sailing.”
By Nancy Lazarus for PeterGreenberg.com. Visit Nancy on the Web at www.nlmarketresearch.com.
Friday, April 16, 2010
Fastenal 1Q earns rise 15 percent; shares jump
The Associated Press
Tuesday, April 13, 2010; 11:08 AM
WINONA, Minn. -- Fastenal said Tuesday that its first-quarter profits rose 15 percent, helped by a revival of sales of nuts, bolts and other fasteners to manufacturers.
Company shares rose $2.17, or 4 percent, to $54.07 in morning trading after the results surpassed Wall Street expectations.
"The improvement in the first three months of 2010 continues the trend we saw in the latter half of 2009," the company said in a statement. "The slow-down in the final three months of 2008 and all of 2009 relate to the general economic weakness in the global marketplace."
The company reported net earnings of $56 million, or 38 cents per share, up from $48.7 million, or 33 cents per share, in the year-ago quarter. Sales were up 6 percent to $520.7 million, helped by a 15.7 percent increase in sales to manufacturing customers during the quarter. Manufacturers historically make up about half of Fastenal's sales, but have been a weak spot in recent quarters. Overall manufacturing sales fell 18.8 percent in 2009, driven by an especially severe contraction in demand from industrial producers.
Sales to the nonresidential construction industry slid 14.7 percent during the first quarter.
Analysts surveyed by Thomson Reuters expected Fastenal Co. to earn 33 cents per share on revenue of $520 million.
http://www.washingtonpost.com/wp-dyn/content/article/2010/04/13/AR2010041302099.html?sub=AR
Tuesday, April 13, 2010; 11:08 AM
WINONA, Minn. -- Fastenal said Tuesday that its first-quarter profits rose 15 percent, helped by a revival of sales of nuts, bolts and other fasteners to manufacturers.
Company shares rose $2.17, or 4 percent, to $54.07 in morning trading after the results surpassed Wall Street expectations.
"The improvement in the first three months of 2010 continues the trend we saw in the latter half of 2009," the company said in a statement. "The slow-down in the final three months of 2008 and all of 2009 relate to the general economic weakness in the global marketplace."
The company reported net earnings of $56 million, or 38 cents per share, up from $48.7 million, or 33 cents per share, in the year-ago quarter. Sales were up 6 percent to $520.7 million, helped by a 15.7 percent increase in sales to manufacturing customers during the quarter. Manufacturers historically make up about half of Fastenal's sales, but have been a weak spot in recent quarters. Overall manufacturing sales fell 18.8 percent in 2009, driven by an especially severe contraction in demand from industrial producers.
Sales to the nonresidential construction industry slid 14.7 percent during the first quarter.
Analysts surveyed by Thomson Reuters expected Fastenal Co. to earn 33 cents per share on revenue of $520 million.
http://www.washingtonpost.com/wp-dyn/content/article/2010/04/13/AR2010041302099.html?sub=AR
Monday, April 12, 2010
To Win the Sale, Win Your Customer's Heart
To Win the Sale, Win Your Customer's Heart
4:21 PM Tuesday April 6, 2010
You're unappreciated in your company, and you've begun to doubt your importance there.
Huh? How did I know that? I didn't. But I'm rarely wrong when I make that assumption about people, and especially about potential clients. In fact, that premise is central to my company's approach to forging an emotional connection with prospective customers. Everything that happens during buyers' first contacts with our company counteracts their sense of being undervalued and lets them know how important they are to us.
To get a sense of what we do, imagine that you're a prospective buyer and that you've come to our company, at our invitation and cost, to pay us a visit (we routinely invite customers to our facilities). You're going to experience these seven steps to an emotional connection:
•You get picked up at the airport.
•At our headquarters, you're greeted with a welcome sign listing your name and title and all the names and titles of the people with you, along with pictures of your packaged products (we make cans and other types of packaging). By the way, our employees saw the same sign when they came to work, so they know that your visit is the most important thing going on today.
•At the security desk, the guards tell you that your visit is so important to us that you've been preregistered.
•Our salesperson ushers you to the office of the CEO, who is waiting to greet you.
•From there, the salesperson escorts you to the boardroom, the most important and prestigious room in the company, to symbolize your importance to us. Other management types are waiting to greet you.
•With all of our top managers in the room, you're asked to tell us about your company and to brag about yourself.
•We outnumber you five or six to one, so that you can vividly see how important you are.
Selling is both a feeling and a thinking proposition. Treating people as we do opens their hearts by inflating their sense of importance, and it makes them more receptive to the thinking part of the sales process, which takes place next, in these four steps:
•We begin a series of presentations in which our top people tell you who we are, what we do, and how we do it. These are not sales pitches.
•You're taken to a plant where you can judge for yourself whether we walk our talk. Tours are conducted by the people who would be making your packaging, and you're encouraged to ask any questions you want.
•At a reception in your honor, you meet many more people in the company.
•At a gracious dinner in our executive dining room, the people you would be doing business with engage you in unhurried conversation.
Many sales organizations do little to create an emotional connection with prospective customers and concentrate instead on hype-filled sales pitches. We do the opposite: By conveying our warm feelings, we create an emotional bond without appearing phony or insincere. Then, by making an objective presentation, we show that we respect our customers' ability to make their own judgments. The art of selling is in the heart, not the brain.
Clif Reichard (creichar@ball.com) is a sales consultant in his 55th year selling rigid packaging substrates.
4:21 PM Tuesday April 6, 2010
You're unappreciated in your company, and you've begun to doubt your importance there.
Huh? How did I know that? I didn't. But I'm rarely wrong when I make that assumption about people, and especially about potential clients. In fact, that premise is central to my company's approach to forging an emotional connection with prospective customers. Everything that happens during buyers' first contacts with our company counteracts their sense of being undervalued and lets them know how important they are to us.
To get a sense of what we do, imagine that you're a prospective buyer and that you've come to our company, at our invitation and cost, to pay us a visit (we routinely invite customers to our facilities). You're going to experience these seven steps to an emotional connection:
•You get picked up at the airport.
•At our headquarters, you're greeted with a welcome sign listing your name and title and all the names and titles of the people with you, along with pictures of your packaged products (we make cans and other types of packaging). By the way, our employees saw the same sign when they came to work, so they know that your visit is the most important thing going on today.
•At the security desk, the guards tell you that your visit is so important to us that you've been preregistered.
•Our salesperson ushers you to the office of the CEO, who is waiting to greet you.
•From there, the salesperson escorts you to the boardroom, the most important and prestigious room in the company, to symbolize your importance to us. Other management types are waiting to greet you.
•With all of our top managers in the room, you're asked to tell us about your company and to brag about yourself.
•We outnumber you five or six to one, so that you can vividly see how important you are.
Selling is both a feeling and a thinking proposition. Treating people as we do opens their hearts by inflating their sense of importance, and it makes them more receptive to the thinking part of the sales process, which takes place next, in these four steps:
•We begin a series of presentations in which our top people tell you who we are, what we do, and how we do it. These are not sales pitches.
•You're taken to a plant where you can judge for yourself whether we walk our talk. Tours are conducted by the people who would be making your packaging, and you're encouraged to ask any questions you want.
•At a reception in your honor, you meet many more people in the company.
•At a gracious dinner in our executive dining room, the people you would be doing business with engage you in unhurried conversation.
Many sales organizations do little to create an emotional connection with prospective customers and concentrate instead on hype-filled sales pitches. We do the opposite: By conveying our warm feelings, we create an emotional bond without appearing phony or insincere. Then, by making an objective presentation, we show that we respect our customers' ability to make their own judgments. The art of selling is in the heart, not the brain.
Clif Reichard (creichar@ball.com) is a sales consultant in his 55th year selling rigid packaging substrates.
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