Friday, September 30, 2011

Don’t Re-Position Brand Facing Number One

So you’re not as cool or popular as the number one player. Your sales are down. Your appeal is down. You’re so dull no one gives a #^$& if you got Jennifer Lopez as a client. I don’t claim to have all the answers but my advice to anyone considering repositioning their brand. Don’t position your brand almost identical to the major players because they have certain strengths you can’t match. Don’t set out to be Pepsi-Cola when you could be Hamburger-Cola (if you can create a cola that taste like hamburger, I might try it). One could easily go head to head with FaceBook but who needs another identical Facebook.

Google wasn’t the first search engine and it sure didn’t set out to be like Yahoo or MSN search. Google just did its thing regardless who was first or who might copy. Eventually another thing will replace Google and Google will be like Yahoo and Yahoo will hopefully be bought out by FaceBook which Microsoft will then manage.

No matter how brave you are, you don’t fight a heavy weight in a boxing rink. You take him to the tracks and you race him. MCI vs AT&T

The Power of Marketing Focus - BJ Mannyst Sponsored

 


For all the Founders Under 40™ Group members, GreatestFounders™ Members, Freelancers, Founders, CEOs and Business Owners out there, great marketing talent, development, and execution is more critical now than ever. If a company like R.I.M can not win some marketing battles against Apple, then what would a company with no marketing clout accomplish?


Accomplish very little and depending on other factors such as industry. Companies like Apple, Nike, Intel and P&G set the bar pretty high. They are like Kobe Bryant, he might dominate today but that doesn’t mean he stops working on his game.



Marketing focus requires unwavering discipline to find an opening in the market and mind of the consumer. As you know, the mind is crowded with so many brands. And in order to increase a brands success, it must step up focus. Many TV networks are starting to realize the fragmented audiences so they’ve created more specialty channels. Companies are choosing to be either: Low or High-end, Hispanics or Asians, Traditional or Rebellious, etc. It seems like it’s the end for the middle ground?


So what I recommend companies or brands do is to stop reaching the whole market, you can’t have your brand appeal to the young and turn around with a campaign to reach young professionals. Each target needs a different approach and possibly a new offering. 

 

A narrow focus also requires a narrow focus name and tag. BJ Mannyst could try to do products or really expensive marketing services but we focus on service businesses, inexpensive-quality, business advice, no nonsense, and we’re not afraid to take on new tactics. And plus we’ve got strategic partnership with Founders Under 40 Group, GTA SM BD and others. 



So less is a lot more, be narrow focused first then diversify, take a page from Wal-Mart. There’s Wal-Mart and there’s Sam’s Club. There’s Lady Gaga and there’s Celine Dion. 



You don’t get marketing focus overnight. It’s step by step. I’m always learning and improving my focus.

Wednesday, September 14, 2011

Hey, Stop Copying to the Bone - Copycat

There are people who can’t innovate and can’t implement worth $^#$. They simply copy or steal people’s ideas. Apple creates iPhone, iPad everyone else copies or adds an Android OS and calls it an ePad. I’ve got nothing against copying and taking ideas from places, it’s when a few try to ruin your brand and reputation by duplicating you identically. Hey copycats learn from others but don’t go out coping to the bone. Turn it to your own using your strengths and weaknesses.

Just recently came across someone trying to copy Founders Under 40 by using the brand name on a another group. Hey buddy. Look into entrepreneur.com, inc.com those are trademarks and you can’t use the words anyhow. You can’t use FoundersUnder40.com either.
Sunday, September 4, 2011

Top tips for successful start-up

  • Make sure you have the right person at the helm. It will be easier to encourage a positive organisational culture if the people at the top offer strong leadership, commercial experience and business skills – combined with the right attitude and values, this will help to ensure that you achieve your social purpose.
  • Build the right team. No single person can be expected to possess all of the skills needed so make sure you have a strong team who can focus on their own area of expertise. Build a team with marketing, business development, financial management, product development, operational and human resources experience.
  • Build a team with shared vision and values.
  • You will probably be running a business with limited resources so you need to be resourceful in your attitude to problem solving.
  • Things change so you will need to conduct regular reviews. Be prepared to think on your feet and alter plans accordingly. This will sometimes mean responding very quickly to situations that you could not have envisaged.
  • Bureaucracy needs to be kept to the minimum and good team communication is essential.
  • Start with good practice and this will pay dividends as the organisation grows.
  • Build trust with all members of staff not just management. Be prepared to trust your staff and delegate responsibility for day-to-day tasks.
  • Don’t take your eye off the ball as far as the market is concerned. You need to focus on sales and your customers will soon let you know if you are not giving them what they want.
  • Marketing never stops. Don’t think that just because you have put effort and resources into marketing at the beginning, you can sit back, relax and wait for the money to roll in.
  • You will have to ensure that you are aware of shifting developments in the markets: socially, and economically and that you remain on top of any new technology.
  • Have patience. It usually takes three to four years for a new business to move towards viability.
  • Don’t forget why you started! You will have good days as well as bad but if you remember your original motives behind starting a business you can take heart in the real difference you can make.
Friday, September 2, 2011

Interesting article on:The Six Traits of a Successful Small Business Owner

A new report attempts to identify a winning formula.

The Guardian Life Small Business Research Institute report hopes to explain why only 1 in 2 small businesses will survive more than five years, according to Small Business Administration figures. The study - called Six Dimensions That Characterize Success-Oriented Small Business Owners - is based on analysis of a survey of 1,100 small businesses with between 2 and 99 employees. (The Institute is run by the Guardian Life Insurance Company of America, and it conducts ongoing research on what it calls "the Index of What Matters Most" to small businesses.)

  •     The ability to collaborate. Those who can delegate, build strong relationships with their management teams, employees, and others are more likely to click with customers.
  •     Being self fulfilled. Good small business owners put a high price on the fulfilment their companies provide them, relish being their own boss, and enjoy being in control of their personal income.
  •     Future-focused. Small business owners who thrive are good at both short- and long-term planning.
  •     Curious. Good entrepreneurs are always reading and asking questions.
  •     Tech-savvy. Perhaps not surprisingly, the best small business owners invest time and money on their company's website and are likely to "rely a great deal on technology to help make our business more effective and efficient."
  •     Action oriented. Successful founders are proactive and always "differentiating ourselves from our competitors," survey respondents said. They were less worried than other small business owners about the state of the economy, and more likely to look at adversity as "a kick in the rear to help you move forward."
First published on Inc.com
Thursday, September 1, 2011

9/11 Remembrance - On Behalf of Myself and Founders Under 40 Group

 
On behalf of myself, and Founders Under 40 Group team & members,
We would like to acknowledge the lives that were lost and affected on that tragic day.  All our best wishes go out to the survivors, family members, and friends.  This statement has nothing to do with America, Middle East, Muslim, Christianity, Man or Woman, Evil or Good.

We are all in this together, people.  Our prayers go out to everyone around the world.

How do you test whether you have a good idea?


  • You will need to determine whether or not there is a market for your service or product.
  • You may be able to identify a need but it will only be a market if someone is willing to pay you for your product or service.
  • Who are your customers?
  • Why will they buy goods or services from you rather than your competitors?
  • How much will they be prepared to pay?
  • These questions might be difficult to answer but if there is no market for your idea then there is no point proceeding. If there is a market, it should give you a green light to explore your idea with a view to development.
  • A well thought out business idea should identify a market for any proposed product or service

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