Risking New Ideas


If we want people in the organization to start taking some risks, we need to replace no with yes and replace limits with encouragement. The key to the development of a risk-taking organizational climate lies in the ability of management to convey the attitude that new ideas are always a hot commodity. New ideas do not have to be perfect at birth. As the saying goes: “It doesn’t have to be right the first time. It just needs to be real.”

The best risk-takers are those who act without concentrating on all the jeopardies and instead work around the fears that hang up other people. That doesn’t mean that they don’t think before they act; it does mean that in this environment, they take some well-planned chances. I’ve watched associates get better month by month at learning how to make the right risks pay off for them, personally and professionally.

When we communicate that we expect mistakes to occur when people are putting out and working hard, we create an atmosphere of encouragement.  A lot of people in corporate life have made careers out of surviving rather than succeeding; they’ve had to cope with atmospheres laced with fear, suspicion, and blame. Get rid of the blame and start celebrating the efforts and new ideas. Plan to make mistakes and still make it through.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

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Techno-stress and Well-being of People


The technological revolution has redistributed levels of stress in the workplace. Many jobs that formerely involved high stress levels, such as burning the midnight oil to do year-end inventory checks, can now be done in minutes, with less stress, thanks to  computers. Jobs that were formerly considered to have little stress, such as routine typing, now involve much more stress because of computers.

Computerized clerical workers suffer higher levels of stress related complaints than any other occupational group, including air traffic controllers. Worker’s compensation claims for computer-related stress form the fastest growing category of illness in the workplace. The human cost of the poorly planned march towards technological utopia has been significant, and can affect any part of the body.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Ethical Problems in Product Strategy


Product quality, planned obsolescence, brand similarity, and packaging questions are significant concerns of consumers, managers, and governments. Competitive pressures have forced some marketers into packaging practices that may be considered misleading, deceptive, and/or unethical. Some firms make package larger than necessary to gain shelf space and consumer exposure in the supermarket. Odd-sized packages make price comparisons difficult. The real question seems to be whether these practices can be justified in the name of competition. Growing regulatory mandates appear to be narrowing the range of discretion in this area.

Product testing is another area that raises ethical concerns. To help assure consumers of product quality, many companies use seals of approval for their goods and services. Recently however consumers have begun to question whether the use of these seals is ethical, since they have to be purchased at fees ranging from $10,000 to $1 million. The seals also do not promise that the product is the best one on the market. Many of the organizations that offer seals of approval do not conduct product testing themselves or even compare brands.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Impulse Products


Impulse products are products that are bought quickly—as unplanned purchase—because of a strongly felt need. True impulse products are items that the customer hadn’t planned to buy, decides to buy on sight, may have bought the same way many times before, and wants right now.

This buying behavior is important because it affects place—and the whole marketing mix—for impulse products. If the buyer doesn’t see an impulse product at the right time, the sale may be lost. That’s why retailers put impulse products where they’ll be seen and bought—near checkout counters or in other heavy traffic areas of store. Grocery stores sell gum, candy bars, and magazines this way. And life insurance is sold at airports at convenience booths or vending machines.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

Building Business Pipeline


  1. Every week, select ten companies or organizations that meet your ‘target’ market profile. List these names, addresses and phone numbers. Select these carefully and include referrals.
  2. Make a research cell to each and identify the most appropriate initial contact. You do not need to speak to this person at this stage, talk to the receptionist or assistant instead.
  3. Send a one-page ‘success’ letter and a very brief overview of what benefits you can offer. Mail on a Thursday or Friday. Focus on your capabilities and how you can benefit the prospect.
  4. Telephone each ‘suspect’ that you mailed within 3-5 days. As 50 percent will be unavailable, log callbacks in your diary. Don’t be surprised if they don’t remember your letter, review it on the phone. Dropping names or using benefits by association can be useful.
  5. Have a prepared call sheet, questions and reasons for an appointment (your goal is a short initial meeting). Offer a benefit to your meeting: share ideas, examples, etc.
  6. Set aside time each week for research, mailing and planning – consistency is vital for this to work. You might find it better to aim for one hour a day rather than one whole day each week.
  7. Maintain accurate but brief reports to monitor your progress and to track activity.
  8. After approximately 10-12 weeks of containing new suspects, reduce the new contacts by between 50 percent and 80 percent and instead go back through all those people you contacted previously and re-contact them, i.e., stay in touch with suspects and prospects every three months. Things often change and if you have selected potential prospects well, it may only be a matter of time before you do business.
  9. Make sure that the subsequent 90 day contact contains something new, interesting or different, even if only very slightly. This also makes sure that you don’t appear too pushy.

10.  No matter how busy you get, always make time to keep in touch with new suspects and prospects in this way on a planned and consistent basis.

The rules:

  1. Do not allow any one customer to contribute more than 30 percent of you sales in any given quarter.
  2. Make sure that at least 30 percent of your sales pipelines is from new business, the rest should be from existing customers or referrals. Do not rely on existing customers to the exclusion of new customers.
  3. Always have a third more sales in the pipeline than you need.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Market Survey


Stated most simply, the objective of a market survey is to determine a reasonably attainable sales volume in a specific market area for a specific type of business. This means finding out how many potential consumers of the planned merchandise or service there are in this market and how many of them can reasonably be expected to become customers of the firm under consideration.

The thoroughness of a market survey will vary under different conditions. The survey is essential for stores that plan to develop much of their own customer traffic. If sales are to depend on the firm’s merchandising policies, sales promotion efforts, special services, or uniqueness, a particularly thorough market survey should be made in advance. Firms that plan to rely on the established customer flow already generated by other businesses in the area may follow less thorough procedures. The latter types of firms have often been described as “parasite stores,” meaning that their location has been dictated by the existing firms in the area that have attracted a substantial traffic flow and which the new firm will tap for its own sales. Examples of small firms in this category are a restaurant in a skyscraper lobby, a medium-priced dress shop next to a large department store, an office-building tobacco shop, or a drugstore in an airline terminal. In these cases, the amount and nature of the traffic and its sales potential are pretty well established. Such firms may still, however, exert various types of sales promotion activities to increase total income within the traffic.

The chief concern here is with the types of firms that may rely heavily on a market survey to help them build much of their customer traffic.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Creative Destruction


Technological discontinuities, regulation and deregulation, globalization, changing customer expectations, and macroeconomic, social, or demographic changes are sources of innovation. Biotechnology, the web, fiber optics, digital movies, cable modems, massively parallel processors, and electric cars are all technological discontinuities of some sort as they offer an order of magnitude performance advantage over previous technologies. They also result in some sort of capabilities obsolescence. Such changes where an old order is destroyed by technological innovation is creative destruction.

Customers demand and expect certain levels of quality and price versus performance in the product that they buy. For various reasons, firms are no longer limiting their activities to their country of origin. Social or demographic changes, such as the changes from planned economies to capitalist ones, are also discontinuities. These are all sources of new ideas to profit from.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

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