A Message From Howard
CEOs, Presidents and Business Owners:
Your business success is determined every single day. Business success doesn’t take place because of a good or even a bad marketplace. It takes place because of you. You’re the one that has worked through the difficulties and slogged through the challenges of your business. But one day something happens in your business that…
Perhaps you’ve heard the saying: Isn’t that person getting too big for their britches?
Or… Don’t they think they’re something?! I remember them when…
And that’s exactly what’s happened at Toyota. They got too enamored with their own success and stature. According to news reports, the company has known for quite some time that they have a potentially life threatening mechanical defect with the gas pedals on several Toyota makes and models. And now even owners of the popular, eco-friendly Prius are coming forward with concerns. Yet the company hasn’t dealt with it. Until now, when finally the US government met with Toyota and pressured officials to do something about the safety hazard. As a business person and consumer, you have to ask the obvious question – Why? Why did Toyota let this problem spin so out of control?
Toyota has spent years building an image and building a company that ultimately became the biggest car manufacturer in the world. Although Toyota may recover from their financial and image losses at some point, for now the business is in serious trouble. Car dealers can’t sell popular models. Owners of Toyota cars are worried every time they drive that it will be their gas pedal that sticks.
Could this business fiasco and public relations nightmare been avoided? Probably so. Now Toyota will spend millions and millions of dollars and an extraordinary amount of time trying to rebuild their reputation for well built cars with consumer safety being foremost in the company’s priorities rather than rank and profits. It could take years to undo the damage. It’s only a matter of time till the lawsuits are filed against Toyota.
Don’t get too big for your britches. Don’t think you are too big to fail. Pay attention to your business. Remember, you don’t need to be the biggest business to be profitable or to be influential in your industry. What’s important is making a profit, keeping customers and employees happy and designing your products and/or services to meet the needs of those who buy them. And always… putting the customer first.
An article published in the USA Today (Tuesday, February 2nd), featured Olympic bound American skater, Evan Lysacek. As the article states, Lysacek won the 2009 world championships, was first in the 2009 Skate America competition and took gold at the Grand Prix Final in December. He is hoping to become the USA’s first men’s figure skating gold medalist since Brian Boitano in 1988. But the men’s skating field is crowded with talent going into the Olympics.
Lysacek’s challenge has been getting more first place finishes than second and third place finishes in recent years. In the past year he asked, “What do I have to do to take that next step and be better than everyone else?”
His coaches told him, according to USA Today, that you have to stretch yourself – beyond your current capabilities. In other words, get out of your comfort zone.
And that is exactly what Lysacek has done in preparation for the Olympics and the quest for gold. He stretched himself with music selection, costumes, skill set and has worked on changing his overall perspective and mindset. The article goes on to quote Lori Nichols, one of sports top choreographers, as saying, “You should do something you do best, but, if a skater gets bored, there’s a flatness to his program…”
The same applies to business. When you keep doing the same thing over and over again in your business you run the risk of getting bored and not doing things as well as you use to without even realizing it. Get out of your comfort zone. Change your perspective. See things through the eyes of your customers and clients, your employees. Because of economic conditions the marketplace is changing. Is your business making the changes necessary to reflect the times in order to attract and keep business?
Getting out of your comfort zone and making the necessary changes in your business can often mean both big and small changes. After you’ve dealt with all the big changes necessary to move your business forward then you need to deal with the small issues that can be just as important to the bottom line. Paying attention to details is vital to business success.
When you understand what it takes to get to the top, it’s a lot easier to get there. Stretch yourself beyond your capabilities. See how it takes you and your business to the next level of success.
CEOs, presidents and owners are so busy each business day. It’s easy to forget three basic important points that are essential to your company’s success.
1) Keep the customer happy. There is a saying that it is ten times harder to find a new customer than it is to keep a current customer. After we deal with customers for a long period of time, we can tend to take them for granted. Some companies focus so much on attracting new customers that they forget to maintain the customer relationships they already have. This creates a revolving door of customers without any solid base of consistent, repeat customers. After a period of time, established customers feel neglected and eventually become a new customer someplace else, for example, at your competitor. So always be thinking about how to make it a better customer experience for your loyal customers. And don’t forget to sometimes, just for no reason at all, thank them for their business. Always have an open door policy for customer feedback.
2) The second point is also about customers. Whatever business you are in you need to understand that your company is a sales organization. If you are not constantly selling, before you know it the sales volume will fall and your company will be losing money. Even with your best efforts you will lose customers just through the natural process of attrition. They may go out of business, they may be bought by another company, or the person making the buying decisions may suddenly decide to buy from other sources or vendors. Always be looking for the next sale. Don’t wait until you need the business. Be proactive.
3) Finally, remember you are in business to make a profit. It’s what keeps you in business. Gives employees raises. Provides for funding when you need it. Allows you to be more flexible in the marketplace.
No matter what the economy, these three points will always bring you business success.
