Growth by Partnering

If corporate growth is what you seek, but you lack the patience to endure the slow pace of organic growth and don't have the capital necessary to finance an acquisition binge, then you might want to consider the various benefits associated with partnering. While the concept of creating a strategic partnership is familiar to many, the reality is that few companies take advantage of them. Let me…

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Stop Selling and Add Value

I was subjected to one of the worst "sales" presentations I've ever witnessed yesterday. In fact, so much so that I decided to author this post as a reminder to those who still don't understand that generating new business relationships is not about selling - it's about establishing trust, rapport, and the creation of value without selling. What I'm about to espouse will cause many an eyebrow to…

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Social Media Responsibility

My wife pointed me to an LA Times story today that made me cringe…The article recounted how TV personality Bill Nye (“The Science Guy”) suddenly passed out while speaking at USC. While this caused a tense moment, he appears to be okay now. However, what incensed me was how the crowd reacted. Witnesses noted the crowd did nothing, they did not come to his aid, and they were of no help to Bill…

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Marketing Success

How do you know when marketing is out of control? Those of you familiar with this blog know that I'm generally a strong marketing advocate. That said, my typical pro-marketing position assumes that certain key fundamentals are in place to ensure that the lunatics don't somehow become in charge of the asylum. In today's post, I'll discuss how to keep marketing in check so that brand focus is…

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Culture Trumps Strategy – Not

Does culture trump strategy? I think not, and I'll explain why. Even though I have seen this phrase quoted by some very bright people whom I respect, it just doesn't resonate with me. I thought perhaps I was misunderstanding what was being said, so I decided to Google the phrase "Culture Trumps Strategy" and found that Stanford offered an Entrepreneurship Lecture by this title, I found several…

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How to Build a Brand

Assuming that you have deep pockets, a talented staff, and a lot of patience, growing a recognized brand isn't difficult...spend heavily across all mediums with consistent, creative, on message advertising while simultaneously conducting aggressive public relations and social media campaigns. Avoid controversy, maintain a high likeability factor, consistently and proactively engage your…

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In Support of Strategy

What's with all the "strategy bashing" of late? How could sound strategic planning possibly be a bad thing? Things have spun so far out of control that I recently had a CEO ask: “Is strategy still relevant in today's business world, and if so, what role does strategy play in the overall make-up of a CEO's duties and responsibilities? Let me begin by stating that strategy has never been more…

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10 Things That Sell

Each week I receive a tremendous volume of e-mail asking questions about a wide variety of business topics. I received one of these e-mails yesterday which piqued my curiosity as it was not only a great question, but it also challenged me to answer the question in a specific format. The question was: "Can you provide a list of 10 things that appeal to buyers, and explain why they appeal to buyers…

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Cutting Employee Churn

Today's Myatt on Monday's question comes from a CEO who asked: "Our employee turnover is higher than I would like it to be. If you had to point out one factor that drives employee churn, what would that be?" Few things in business are as costly and disruptive as having the proverbial revolving door for employees to exit from. Even worse is not knowing how to stop the door from turning. While an…

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Understanding Your Customers

Many businesses find that understanding their customer base is often easier said than done, which is why I've written often on the importance of maintaining an external focus with an emphasis on customer centricity. Let me put this as simply as I can...If you want to succeed in business, you must be in touch with the demands of the marketplace. While many businesses think they understand their…

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Family Business

Family Business...a quote from Charles Dickens sums up my feelings about family businesses: "It was the best of times, it was the worst of times." Oh what a conundrum...Family business; should I, or shouldn't I? Today's Myatt on Monday's question comes from an entrepreneur who asks: "Should I involve family members in my business venture?" In my opinion there really isn't a right or wrong answer…

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Employment Agreements

The need for a sound employment agreement is not something to be trivialized. I recently received an e-mail from a CEO who was unceremoniously "asked" to resign by his board of directors. He asked me to author a post on the value of employment agreements in the hope of preventing other CEOs from unnecessarily subjecting themselves to a forced resignation scenario. So, in today's post, I'll…

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Search Engine Marketing

Search Engine Marketing has always played a critical role in managing the visibility of a company's online brand. However, with the Internet becoming what is arguably today's dominant medium, Search Engine Marketing has also risen to become a key driver in a company's overall brand strategy. Regrettably, the maturity of the products and services that comprise search engine related disciplines…

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Innovate or Perish

Innovate or Perish is a battle cry that I have long espoused to my clients. I can't think of a better example of what can happen to those companies that fail to innovate than the rumors circulating about the Tribune Co. The Tribune Co., owner of the Chicago Tribune, Los Angeles Times, and other once-revered trophy brands is hemorrhaging under the burden of huge debt obligations, insufficient cash…

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Increasing Sales in a Down Economy

Increasing sales in a down economy should be a subject near and dear to the heart of all those that read this blog. Few things are as important in today's economy as building your sales funnel and increasing revenue. It is no wonder that amongst the most frequent e-mail inquiries I receive each week are messages asking for suggestions about how to increase sales. This week I received an e-mail…

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Effective Compensation Plans

"Can you provide any tips for modeling a winning compensation plan?" is today's Myatt on Monday's question which was asked by a CFO of an Internet marketing company. While certainly a great question, I must admit that I have been reluctant to address the topic of compensation in previous posts as compensation theory is not only complex, but it often varies greatly based upon the situational…

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