Persevere, Answer Questions, Do Demonstrations, Create Payment Plans…and Reassure

The extended period of uncertainty following the recent recession continues to raise the cost of doing business.  These days, an experienced sales person expects to explain the value to more people, provide free demonstrations, answer lots of questions, create payment plans, and reassure decision makers.  You might find that reassuring people is becoming the most important step.  Cash is tight. Jobs are at risk.  Few people are willing to take a chance or be an early adopter because they can’t afford to look like a fool.

As a few of my recent blog entries have shared, I have been working on a new economic development initiative that will help midsized companies rebound. When folks see the statistics, hear the approach, and review the business model, anyone who interacts with midsized businesses quickly sees the value and gets excited that it could help the economy. It’s one of those win/win/win models where:

• The clients pay a little to gain a lot
• The service providers make a difference, earn some money, and benefit from great marketing
• The sponsors invest a little and are applauded as visionary leaders

But even something like this has difficulty attracting sponsors.  WHY?

In some corporations, their own bureaucracies are so difficult that a regional President has very little chance to shift priorities for even $15,000. In other corporations, the decision has been made about which nonprofit organizations will receive their support.  Even if/when too little return on investment is resulting from those decisions; it is too difficult to consider a change.  Other corporations say they like innovation, but sponsor only traditional approaches.

The concept I/we have been working on isn’t a traditional 501C3 or 501C6 entity. I have recruited over 50 service providers and we are determined to launch this initiative in 2012. Like other sales people these days, I have to persevere, answer questions, do demonstrations, create payment plans, and reassure. Interestingly, involving the legal and accounting firms in the sponsorship calls is needed to help reassure corporate executives.

Aldonna R. Ambler, CMC, CSP has earned the right to be called THE GROWTH STRATEGIST™. She has won over 2 dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across 4 recessions.  Her midsized BtoB service, technology, and distribution clients get on…and then stay on…the published lists of the fastest growing privately held companies. All of her own service businesses (strategic planning, executive advisory, growth financing, talk show, speaking, search) help privately held midsized companies achieve accelerated growth with sustained profitability™. Ambler is wrapping up her 7^th year hosting a weekly peer-to-peer-to-peer on-line talk show at http://www.Business.VoiceAmerica.com and www.growthstrategistshow.com that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. Family owned businesses are being emphasized in 2011. Ambler is in the process of launching her 8^th enterprise. She can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com.           

 

What Role Does Loyalty Play in Your Organization?

This will inevitably be one of those blogs where I ask you to think rather than provide a firm answer. It’s just that I’ve noticed some business people getting into trouble with loyalty issues recently.

In one situation, the CEO seems to view loyalty as belonging to him.  In his mind, the board members, the employees, the vendors, the customers are all supposed to be loyal to him. That often means that anyone who disagrees with him isn’t being loyal. A consultant who is paid to provide an objective viewpoint is quickly dismissed if his/her conclusion isn’t that this CEO is always right. He denies that this is true, but it is so obvious to everyone else.

In another organization, the millennial generation employees are not inclined to be loyal to anyone but themselves. They have seen their Baby Boomer parents suddenly let go and their retirement savings reduced when the financial industry imploded. They don’t trust that Social Security will be there for them when they retire. They may like what they do, but loyalty to the company or the employer isn’t even an option.

The CEO of another client organization resists loyalty to him.  He wants people to be loyal to the business, its mission and the results it achieves. He is concerned about where the company would be if loyalty is aimed at him and he is suddenly killed in a car accident or develops prostate cancer like his father did.

Often it is the truly visionary leaders, like Steve Jobs, who can generate loyalty for both them and the company. Nido Quebein seems to be able to spark that dual loyalty (for the CEO and the organization) as the Provost of High Point University in North Carolina. But that is rare these days.  Too many CEOs view themselves as visionary because they enjoy doing new things. But if they are indecisive inconsistent leaders, they will get superficial loyalty from employees and vendors.

Do you know the role loyalty plays in your company?

Aldonna R. Ambler, CMC, CSP has earned the right to be called THE GROWTH STRATEGIST™. She has won over 2 dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across 4 recessions.  Her midsized BtoB service, technology, and distribution clients get on…and then stay on…the published lists of the fastest growing privately held companies. All of her own service businesses (strategic planning, executive advisory, growth financing, talk show, speaking, search) help privately held midsized companies achieve accelerated growth with sustained profitability™.  Ambler is wrapping up her 7^th year hosting a weekly peer-to-peer-to-peer on line talk show at http://www.Business.VoiceAmerica.com and www.growthstrategistshow.com that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. Family owned businesses are being emphasized in 2011. Ambler is in the process of launching her 8^th enterprise. She can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com.

 

How to Move Your Market from Complaining to Placing Orders for Your New Product

Companies like APPLE® haven’t waited for customers to specifically ask them for completely different telephones or even faster, thinner, and lighter products.  Folks from that corporation observe how people work and communicate and then create products to address the problems and wishes before the customers even have a chance to complain about it.  APPLE® has been so good at innovation that their products haven’t just responded to a recognized need the products create a need.

But the reality is…most of us are not APPLE®.

We can’t all create a need, but if we wait until customers actually ask us to provide a new service or product, those customers have been frustrated for a long time.  We run the risk of competitors figuring out how to address the problem before we start to develop a product/service. The company that only provides a new product when it’s been directly requested is playing it safe, ends up with a smaller portion of the available business, and is viewed as conservative and reactive.

When it comes to product/service innovation, there is an important zone between “bleeding edge – create a need” and “reactive – wait to be asked.”                

If your company interacts with its customers, conducts focus groups, asks about where the clients are headed, listens to customer complaints and frustrations that are unrelated to your company’s existing products/services, you will have a sense of the “felt pain.”

The best products/services of tomorrow address today’s’ felt pain.

In addition to developing a product/service that fixes a problem, it’s important to invest in marketing.  During the complaining phase, customers aren’t asking you to provide a product/service….in part because they don’t believe anyone will address their problem. They don’t know you have the capacity to do anything. They have no idea that the new product/service exists. How can they request it from you?

I am now in the process of launching my 8^th enterprise. This one involves collaboration among several competitors who are industry leaders.  Why would customers believe that is even possible or know to request it?  The new business concept lowers the price of a mission-critical service so midsized companies can actually afford to have the excellent product/service that only major corporations have been able to afford.  Why would the customer ask for that when it doesn’t seem possible to them?

The strongest businesses introduce new products and services that truly address felt pain…and they do so boldly to move the market place from complaining to placing an order.           

 

Aldonna R. Ambler, CMC, CSP has earned the right to be called THE GROWTH STRATEGIST™. She has won over 2 dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across 4 recessions.  Her midsized BtoB service, technology, and distribution clients get on…and then stay on…the published lists of the fastest growing privately held companies. All of her own service businesses (strategic planning, executive advisory, growth financing, talk show, speaking, search) help privately held midsized companies achieve accelerated growth with sustained profitability™. Ambler is in her 7^th year hosting a weekly peer-to-peer-to-peer on line talk show at www.Business. VoiceAmerica.com and www.growthstrategistshow.com that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. Family owned businesses are being emphasized in 2011. Ambler is in the process of launching her 8^th enterprise. She can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com.

 

Launch a Second Enterprise or Create a New Department

George owns a content management website development company. Their capacity to attract and maintain programmers with sufficient experience in their content management software is simultaneously the optimizing and limiting factor for their growth. So, he is seriously considering opening a training program to build their pipeline of qualified programmers. An attorney quickly told George to start a second business.

The attorney is correct. A training company or school is a very different business from a website development company. This is especially relevant because George wants to open the school on another continent. But I was struck by the casual matter-of-fact tone of the attorney’s advice.

Yes, George can work with the attorney to file official papers to open a school. But before that makes any sense, George will need to have someone in place with experience opening and running a professional school. What credentials will instructors need to have?  How will recruitment and selection of instructors be handled? Who are the prospective students, and how will they be reached?  What would the curriculum be? How will competence be measured, a passing grade be earned, or certification achieved? What competition exists? What tuition is normal? What drop out and no show rates are common? What prevents graduates from deciding not to come to work for George’s company after they have been trained? What percentage of an instructor’s time can realistically be in the classroom? What will the hard costs be for facilities, work stations, telephones, utilities, etc?  How much gross profit and net profit should George expect from the school? Will the key person be a partner and eligible for profit sharing? How long would it take for the school to produce capable employees to achieve ROI on the venture?

His core business is growing. Recruitment is just not going fast enough. Search firms have produced disappointing results. George is VERY busy handling proposals and making sure that major clients are happy. Realistically, he won’t have time to oversee the launch of a second business right now.

It’s funny.  When we suggested that the content management website development company could establish its own recruitment department, George dismissed the idea because he thought that having a recruitment department would be too expensive and distracting.

Aldonna R. Ambler, CMC, CSP has earned the right to be called THE GROWTH STRATEGIST™. She has won over 2 dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across 4 recessions.  Her midsized BtoB service, technology, and distribution clients get on…and then stay on…the published lists of the fastest growing privately held companies. All of her own service businesses (strategic planning, executive advisory, growth financing, talk show, speaking, search) help privately held midsized companies achieve accelerated growth with sustained profitability™.  Ambler is in her 7^th year hosting a weekly peer-to-peer-to-peer on line talk show at http://www.Business.VoiceAmerica com and www.growthstrategistshow.com that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. Family owned businesses are being emphasized in 2011. Ambler is in the process of launching her 8^th enterprise. She can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com.

 

Your Sales Force MUST Embrace the Strategic Plan or You Don’t Have One

Many of you are in very dynamic industries with rapid technical advancements, globalization, certifications required for preferred vendors, and an evolving pool of competitors. To keep up with (better yet…get ahead of) the changes around you, you are increasing the frequency of your market research, customer satisfaction surveys, and strategy sessions.

The process of research and analysis has led several of our clients to the conclusion that the rules have changed sufficiently in their industries that they must dramatically change their business models. A few are making the move from billing for hours to value/results-based pricing. A few are getting into private label products and focusing on niche markets. Some are going after much larger accounts and essentially “firing” the bottom 10% of their customers. One is dramatically modifying the role of the distributor in their industry. Another weighed the pros and cons of leading a roll up while another is seriously considering a merger to get the help they need with backroom operations. Most have to also address sticky succession issues.

An inexperienced person might jump to the conclusion that production level personnel would be the most resistant to change, assume their jobs are now at risk, and not want to learn.  In all of the cases mentioned above, the waged employees have not presented a challenge.  They have been excited that their employers are doing research, considering the future, starting new things, providing opportunities to learn new skills, and investing in survival and growth.

In a few instances, our clients have had to bring in a CFO instead of expecting their Controller to generate scenarios or deal with bankers and investors. In one case, the HR Manager was over his head and didn’t know how to change the company’s approach to recruitment. We got them into the Top Grading approach, which helped.

Absolutely, across all of these examples of companies changing their business models, the sales force has been the most reluctant to help, learn, accept, and change.  With the unemployment rate as high as it is these days, one would think that sales people would be a little more willing to try a new approach, go after larger accounts, learn to use updated systems, etc.  Despite involving sales people in the research, utilizing participative approaches to strategic planning, and providing training and coaching for success, these clients have had to put sales people on notice, let some of them go, and dramatically step up recruitment to attract future oriented sales people.

Nothing will torpedo a new strategic direction faster than sales people continuing to talk about the past or criticizing their employers for wanting to change.

 

Aldonna R. Ambler, CMC, CSP has earned the right to be called THE GROWTH STRATEGIST™. She has won over 2 dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across 4 recessions.  Her midsized BtoB service, technology, and distribution clients get on…and then stay on…the published lists of the fastest growing privately held companies. All of her own service businesses (strategic planning, executive advisory, growth financing, talk show, speaking, search) help privately held midsized companies achieve accelerated growth with sustained profitability™.  Ambler is in her 7^thyear hosting a weekly peer-to-peer-to-peer on line talk show atwww.Business.VoiceAmerica.com and www.growthstrategistshow.com that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. Family owned businesses are being emphasized in 2011. Ambler is in the process of launching her 8^th enterprise. She can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com.

 

Why VIRTUAL Growth Should NOT Be a Goal

Yep.  Advanced technology makes it very tempting to grow your company through subcontractors and vendors.  That option is particularly reassuring if you are reluctant to accept the responsibility, cost, and risks associated with building a team of employees. Even if you didn’t want to take the virtual route, these days you may feel compelled to do so because so many service providers view themselves as “entrepreneurs” rather than employees. You may benefit from the flexibility that comes with growing virtually.  When a vendor or subcontractor under-delivers, you simply replace them … right?

But be careful.  Despite the obvious benefits, VIRTUAL growth also brings its own share of challenges. Just because a bright owner knows how to design great websites or create social media programs doesn’t mean he/she knows how to train people, grow a business, develop a team, etc.  Pretty soon, the business management problems of a trusted vendor become your problems as deadlines are missed, your LINKED IN account gets shut down, or your “Golden 50” program screeches to a halt. The vendor won’t want to tell you that he/she is having difficulty managing his/her business.  You don’t see them every day, so you miss warning signs. Now you must invest time in fixing the problems, getting things back on track, reviewing invoices, renegotiating the contract, and looking for a replacement. No one feels any sense of loyalty or security.  Folks are expendable at any time. Bridges are burned over and over and over.

As a result of virtual relationships, we have seen more and more company Presidents spending way too much time looking for new vendors, diving back into the details, worrying, and not doing their own jobs. When the commitment to virtual growth becomes the goal instead of a tool, it can stifle productivity, profitability, and perspective.

The VIRTUAL approach isn’t limited to marketing, bookkeeping, HR management, IT, etc.  The biggest risks, in my opinion, come when a company relies too heavily on subcontractors for client services, production, etc.  It is too easy to become a subcontractor for most companies.  We know a few firms that use very thorough multi-step screening processes when they hire employees and then utilize a very superficial contracting process for important subcontractors who interact with their customers on a daily basis!  Their entire future and reputation is on the line because growing virtually has been elevated to a goal.

We’ve seen companies with fabulous supervision and coaching programs in place for employees that are not utilized with key subcontractors at all! Subcontractors can easily value their flexibility over your customer satisfaction goals. They can easily modify your process and methodologies. Because they are independent, they have to keep looking for their next great opportunity.

If you rely heavily on subcontractors and vendors to grow your business, consider:

• Strengthening your selection, training, supervision, and performance evaluation processes.
• Certifying and/or licensing to convey the value of your methodologies and intellectual property.
• Hiring a manager with sourcing, purchasing, and contract administration experience.
• Asking yourself if and why growing virtually has been elevated to a goal for you.
• Reviewing your approach to team building.

Aldonna R. Ambler, CMC, CSP has earned the right to be called The Growth Strategist™. She has won over two dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across four recessions.  Her midsized B-to-B service, technology and distribution clients get on…and then stay on…the published lists of the fastest growing privately held companies. All of her own service businesses (strategic planning, executive advisory, growth financing, radio show, speaking, search, etc.) help midsized companies in Achieving Accelerated Growth With Sustained Profitability®. Ambler is in her 7^th year hosting a weekly peer-to-peer-to-peer online radio program atwww.business.voiceamerica.com or www.GrowthStrategistRadioShow.com that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. She can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com.

 

Mergers Become More Possible During Tough Economies

Maybe you have also heard a business attorney declare from a speaking platform that “There is no such thing as a merger! One company always ends up in the dominant position!” I can understand that viewpoint.  After 40 years as a business growth strategist, I have concluded that the overwhelming majority of acquisitions can be traced back to a company being in search for a more effective CEO.  Acquisitions and mergers are not just about the exchange of money. When there is clear leadership in one of the entities, that’s who ends up in control.

But mergers are more possible during difficult economic times, because comparable competitors may want to work with one another. Neither may want to dominate the other or step back and be told what to do. They may just need to share the risks, reduce their operating costs, benefit from shared marketing, be able to take vacation again, be ready to handle larger accounts, retain top performers or lay off “dead wood.”  By working together, they may feel less isolated and worried. Today’s mergers can be as simple as a “stock swap and keep going.”

Lately, I’ve noticed more trucks with dual name businesses like “SMITH & JONES Electrical Contractors.”  In my opinion, the enemy of entrepreneurship is isolation.  If you are still interested in being in business, but scaling your company to an efficient size has become more and more difficult, it may be time to consider a merger with a competent competitor.

 

Aldonna R. Ambler, CMC, CSP has earned the right to be called THE GROWTH STRATEGIST™. She has won over 2 dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across 4 recessions.  Her midsized BtoB service, technology, and distribution clients get on…and then stay on…the published lists of the fastest growing privately held companies. All of her own service businesses (strategic planning, executive advisory, growth financing, talk show, speaking, search) help privately held midsized companies achieve accelerated growth with sustained profitability™.   Ambler is in her 7^thyear hosting a weekly peer-to-peer-to-peer on line talk show atwww.Business.VoiceAmerica.com and www.growthstrategistshow.com that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. Family owned businesses are being emphasized in 2011. Ambler is in the process of launching her 8^th enterprise. She can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com.

 

A Few Reminders About Why Collaboration Is More Important During Tough Times

This past Sunday morning I was watching “This Week with Christiana Amanpour” on television. She is an excellent interviewer when it comes to foreign policy, global issues, political regimes, etc.  During one segment of the broadcast, she was interviewing Former US President Bill Clinton about the upcoming conference of his CLINTON GLOBAL INITIATIVE.  Unemployment is not just a US problem so CEOs from around the globe will be brainstorming ideas to create more jobs.

President Clinton provided about a dozen examples of places with lower unemployment rates and more resilient economies.  Every example involved collaborative effort.  San Diego has a successful technology initiative.  MIT and other institutions are working together and getting results around Boston. He mentioned Austin, Texas and finished the list with Mayor Bloomberg’s idea for New York City to establish a technology research center on unused land on Governor’s Island.

And then today, I was interviewing Dave Clements on my weekly talk show. He is the Director of the Lacrosse Convention and Visitors Bureau in Wisconsin. The subject of today’s broadcast was “What Presidents of Midsized Businesses can learn from an Executive of a Nonprofit Organization.”  Sure enough, Dave talked about collaboration.  They squeeze lots of wonderful events out of their $800,000/year budget by doing strategic alliances, joint ventures, and bartering. He also shared advice about how to get the most out of employees, how to position your organization as a hub of positive activity, how to win despite the perception that you are up against a large well financed competitor, why to never turn down media interviews, and how to turn liabilities into assets.  The primary message was collaboration.

And last week, I proposed an idea to an association that involves collaboration among members. At first, the idea doesn’t seem possible to business leaders who are hearing nothing but bad news. After all, each person is very busy handling the impact of the bad economy.  Why would anyone want to collaborate?   Frankly, during tough times, I find that people also need to feel a sense of progress.  If there is a project for which each person is asked to play a small part and it somehow adds up to a positive change, most people will give it a try….if negative people don’t kill their enthusiasm. 

 

Aldonna R. Ambler, CMC, CSP has earned the right to be called THE GROWTH STRATEGIST™. She has won over 2 dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across 4 recessions.  Her midsized BtoB service, technology, and distribution clients get on…and then stay on…the published lists of the fastest growing privately held companies. All of her own service businesses (strategic planning, executive advisory, growth financing, talk show, speaking, search) help privately held midsized companies achieve accelerated growth with sustained profitability.™ Ambler is in her 7^thyear hosting a weekly peer-to-peer-to-peer on line program at www.Business. VoiceAmerica. com and www.growthstrategistshow.com that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. Family owned businesses are being emphasized in 2011. Ambler is in the process of launching her 8^th enterprise. She can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com.

 

Not Doing BOLD Marketing Kills New Products

OK.  You’re scared.  Money is tight. You don’t know if your customers will respond to your new product/service. So you are tempted to slowly ease into the product launch. I can hear you now.  “Let’s see if a few customers bite before we invest a ton of money on this.”  But deep down you do know that if you are timid with the marketing and sales messaging related to your new product, your customers won’t bite, they won’t take a chance, they won’t be excited…or worse…they won’t even notice.

Think about the most successful companies.  APPLE® generated so much interest in its I Phone®, folks stood in long lines to be among the first people to buy it. Even when they had to fix some connection problems, customers forgave them and wanted more. Think about fast food restaurants. McDonalds® is successful in large part because it knows how to market its food. One company’s “burger, fries, small drink, and a toy in a box” is a HAPPY MEAL® in the hands of master marketers. Designers convince fashion conscious women to change the length of their hemlines and height of their heels year after year through effective marketing.

Enthusiastic marketing is even more important during an uncertain economy.  You need to be insistent, consistent, and persistent because so many people are preoccupied, worried, and have lost trust. Make sure your new product will truly help your customers, so you can honestly point out the benefits and tell them why it is important for them to try your product/service. Most companies are continuing to sell the same products through these tough times and a small percentage of businesses have improved their products.

If your business is actually introducing something new, important, and timely…gosh…don’t hold back!      

 

Aldonna R. Ambler, CMC, CSP has earned the right to be called THE GROWTH STRATEGIST™. She has won over 2 dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across 4 recessions.  Her midsized BtoB service, technology, and distribution clients get on…and then stay on…the published lists of the fastest growing privately held companies. All of her own service businesses (strategic planning, executive advisory, growth financing, weekly talk show, speaking, search) help privately held midsized companies achieve accelerated growth with sustained profitability™.  Ambler is in her 7^th year hosting a weekly peer-to-peer-to-peer on line program at http://www.Business. VoiceAmerica. com and www.growthstrategistshow.com that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. Family owned businesses are being emphasized in 2011. Ambler is in the process of launching her 8^th enterprise. She can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com.

 

Survival Versus Thrival

George’s business has three stores.  The oldest one makes money but is still a bit too dependent on one key salesperson.  The second one hasn’t hit its sales or profit goals in a long while. And the third, a relatively new location, seems like it has great potential but hasn’t yet reached the inflection point.

If George has a survival mentality, he will close the second store, try to relocate one or two sales people back to the first store and give the salespeople in the newest store a deadline for hitting their goals.   George and a very small business might survive, but will he have something of value to sell when he wants to retire?  Will he be able to attract experienced sales people? Will his business deserve exciting marketing campaigns? Could he attract the best vendors and utilize premium pricing? Would the key salesperson in the oldest store continue to produce?

A thrival mentality asks different questions. Does the key salesperson represent the old way of doing business and should the company actually focus more on the newer sales people? Should something like incentives or a marketing campaign be added to the third store to lift it more quickly over breakeven? Is there an exciting theme or approach that could differentiate George’s business from competitors? If so, should George be looking for additional locations or considering franchising his business?

Thriving during uncertain economies involves thinking much bigger than your company is today. It actually requires bolder marketing messages because so many people are so preoccupied and distracted they will not see or hear your message right away. Growth during recessions is often easier when people like franchisees or investors share the risk.

If things don’t work out for “Survival George,” he will be on his own. If things start to go badly for “Thrival George,” bankers, franchisees, employees, vendors, and even local economic development agencies will be invested in the company and care about its future.

 

Aldonna R. Ambler, CMC, CSP has earned the right to be called THE GROWTH STRATEGIST™. She has won over two dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across four recessions.  Her midsized BtoB service, technology, and distribution clients get on–and then stay on–the published lists of the fastest growing privately held companies. All of her own service businesses (strategic planning, executive advisory, growth financing, radio show, speaking, search) help privately held midsized companies achieve accelerated growth with sustained profitability™. Ambler is in her 7^thyear hosting a weekly peer-to-peer-to-peer on line program at www.Business.VoiceAmerica.comand www.growthstrategistshow.com that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. Family owned businesses are being emphasized in 2011. Ambler is in the process of launching her 8^th enterprise. She can be reached toll free at 1-888-Aldonna or atAldonna@AMBLER.com.