I recently sat down with Scott Alexander from Jairus Marketing for another insightful discussion about a topic that resonates deeply with both of us: shifting from a founder-led business to more sustainable business models. This is especially relevant for early-stage companies, particularly those in the healthcare sector where the CEO is vital as both the visionary and primary salesperson.
Mon, Sep 25, 2017 — I’d like to start this blog by offering my hearty congratulations. Having recently completed your SWOT Analysis — that fundamental exploration of the strengths, weaknesses, opportunities and threats related to your business — and declared it a masterpiece, you now have entered a warm and fuzzy zone known as “After the SWOT.”
Sun, Dec 22, 2013 — A recent Wall Street Journal article by Francesco Guerrera, Lenders Looking All Too Similar, quoted a tycoon as stating he chose his financial services on price, because “in the end, banks are really all the same”. This is the last thing any of us want to hear about our business, especially if we are in an industry that prides itself on spending a great deal of time developing an understanding of our customers and creating and marketing solutions designed to appeal to their unique needs. Supporting the belief that strategic innovation can make a difference, Bloomberg BusinessWeek’s article Rural Banks Know Something Big Banks Don’t by Brendan Greeley argues that great customer service combined with other good business practices can produce a good return for shareholders.Over the past year I’ve had the opportunity to work with several community banks and credit unions, and have been impressed with how they are able to defy the premise of the WSJ article. Here are 5 marketing strategies on how nimble organizations have been able to understand their customer and move faster and/or smarter than their larger competitors.
Sun, Mar 17, 2013 — We were in Dallas, attending the Vistage International Conference. The ballroom was packed with 1,100 CEOs and Vistage Chairs from across the country and around the world. It’s exciting to be around successful business leaders, anticipating that with your next handshake you’ll meet someone whose story will be one you can’t forget. That’s when I met Dan Mollura, a second-generation leader of a family business, Vinyl Technology, from Southern California. They design and manufacture an array of vinyl and plastic products for customers including the Army, Air Force, Defense Department, and NASA. He’d realized over 300% growth ($8M to over $30M) in the 7 years since taking over from his father. That’s amazing. But that’s not what got my attention. He said the reason for his success was that he was more conservative, more analytical, than his entrepreneurial Dad. Wow. I had to learn more. Breaking Up Before Breaking Out Dad was an immigrant from Argentina. He had been a pioneer in the waterbed business until the industry softened; then he’d started Vinyl Tech. With several sons, Dad had his eyes on Dan and began grooming him as his potential successor. But Dad was not ready to let go, and a falling-out resulted in Dan quitting, leaving the family business to pursue real estate. Eventually, Dad recognized he needed Dan back in the business and approached the brothers to ask Dan to come back. And he did. This act of rebellion and reconciliation was clearly the moment of truth for their successful transition. It took Dad two more years to fully let go, but the process was underway, and the ground rules understood.
Sun, Feb 17, 2013 — If you are a start-up or a small business, you probably have more on your plate than a reasonable person can be expected to handle. Or at least handle in an effective way without going insane. So what should a small business leader focus on? How should you identify the really important ones from those that are merely, well, important?