The Basics of Business - 4th Printing

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400\slmult0 \fs24\cf0\f0\charscalex100 {Copyright � Curt Porritt,
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{The scanning, uploading, and distribution of this}\fs24\cf0\f0\charscalex100
{ book via the Internet or}\fs24\cf0\f0\charscalex100 { via any other
means}\par\pard\li1280\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {without the
permission of the au}\fs24\cf0\f0\charscalex100 {thor is illegal and
punishable}\fs24\cf0\f0\charscalex100 { by law. Please purchase
only}\par\pard\li1400\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {authorized
electronic or printe}\fs24\cf0\f0\charscalex100 {d editions and do not
participat}\fs24\cf0\f0\charscalex100 {e in or encourage piracy
of}\par\pard\li2053\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {copyrightable
materials. Your support of}\fs24\cf0\f0\charscalex100 { the author\uc1\u8217Xs
right}\fs24\cf0\f0\charscalex100 {s is appreciated.}\par\pard\li3173\ri0\sl-
\fs18\cf0\par\pard\li3173\ri0\sl-306\slmult0 \fs24\cf0\f0\charscalex100\b {Printed
copies of this book can be purchased at:}\b0 \par\pard\li2880\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li2880\ri0\sl-480\slmult0 \fs36\cf0\f0\charscalex100\b
{www.CafePress.com/BusinessBasics}\b0
\par\pard\sect\sectd\sbkpage\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\margts
xn666\margbsxn293\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\b {Table of Contents}\b0 \par\pard\li1133\ri0\sl-
\fs18\cf0\f0\charscalex100\b {WHAT MAKES A BUSINESS
SUCCESSFUL?........................................................................
......................}\b0 \fs18\cf0\f0\charscalex100\b {.1}\b0
\par\pard\li1133\ri0\sl-360\slmult0 \fs16\cf0\f0\charscalex100\b {CREATING A
SUCCESSFUL
STRATEGY...........................................................................
......................}\b0 \fs16\cf0\f0\charscalex100\b {....4}\b0
\par\pard\li1373\ri0\sl-346\slmult0 \fs20\cf0\f0\charscalex100
{C}\fs16\cf0\f0\charscalex100 {OMMON}{ }\fs20\cf0\f0\charscalex100
{M}\fs16\cf0\f0\charscalex100 {ISTAKES}{ }\fs18\cf0\f0\charscalex100
{..................................................................................
........................................................4}\par\pard\li1373\ri0\sl-
226\slmult0 \fs20\cf0\f0\charscalex100 {T}\fs16\cf0\f0\charscalex100 {HE}
{ }\fs20\cf0\f0\charscalex100 {C}\fs16\cf0\f0\charscalex100 {IRCLES
OF }\fs20\cf0\f0\charscalex100 {B}\fs16\cf0\f0\charscalex100 {USINESS}
{ }\fs20\cf0\f0\charscalex100 {S}\fs16\cf0\f0\charscalex100 {TRATEGY}
{ }\fs18\cf0\f0\charscalex100
{..................................................................................
.............................6}\par\pard\li1613\ri0\sl-226\slmult0
\fs18\cf0\f0\charscalex100\i {Jiffy Lube }\i0 \fs18\cf0\f0\charscalex100\i
{Strategy .........................................................................
...............................................................7}\i0
\par\pard\li1613\ri0\sl-226\slmult0 \fs18\cf0\f0\charscalex100\i {Wal-Mart Strategy
...................................................................................
...........................}\i0 \fs18\cf0\f0\charscalex100\i
{..........................9}\i0 \par\pard\li1613\ri0\sl-240\slmult0
\fs18\cf0\f0\charscalex100\i {Amazon.com }\i0 \fs18\cf0\f0\charscalex100\i
{Strategy..........................................................................
..................................}\i0 \fs18\cf0\f0\charscalex100\i
{......................10}\i0 \par\pard\li1373\ri0\sl-226\slmult0
\fs20\cf0\f0\charscalex100 {W}\fs16\cf0\f0\charscalex100
{HAT}\fs20\cf0\f0\charscalex100 {\uc1\u8217X}\fs16\cf0\f0\charscalex100 {S}
{ }\fs20\cf0\f0\charscalex100 {Y}\fs16\cf0\f0\charscalex100 {OUR}
{ }\fs20\cf0\f0\charscalex100 {S}\fs16\cf0\f0\charscalex100
{TRATEGY}\fs18\cf0\f0\charscalex100
{?.................................................................................
.............................................}\fs18\cf0\f0\charscalex100
{11}\par\pard\li1853\ri0\sl-200\slmult0 \fs18\cf0\f0\charscalex100 {EXERCISE:
Choosing a Strate}\fs18\cf0\f0\charscalex100 {gy for
Your}\fs18\cf0\f0\charscalex100
{ Business.........................................................................
.......}\fs18\cf0\f0\charscalex100 {.............. 14}\par\pard\li1133\ri0\sl-
360\slmult0 \fs18\cf0\f0\charscalex100\b {THE FOUR CORNERSTONES OF
BUSINESS...........................................................................
..................1}\b0 \fs18\cf0\f0\charscalex100\b {8}\b0
{E}\fs16\cf0\f0\charscalex100 {XTERNAL}{ }\fs20\cf0\f0\charscalex100
{C}\fs16\cf0\f0\charscalex100 {OST}{ }\fs18\cf0\f0\charscalex100
{..................................................................................
{...............19}\par\pard\li1373\ri0\sl-226\slmult0 \fs18\cf0\f0\charscalex100
{I}\fs14\cf0\f0\charscalex100 {NTERNAL}{ }\fs18\cf0\f0\charscalex100
{E}\fs14\cf0\f0\charscalex100 {FFORT OR }\fs18\cf0\f0\charscalex100
{H}\fs14\cf0\f0\charscalex100 {EADCOUNT}{ }\fs16\cf0\f0\charscalex100
{..................................................................................
...............................20}\par\pard\li1613\ri0\sl-226\slmult0
\fs18\cf0\f0\charscalex100\i {Products Vs}\i0 \fs18\cf0\f0\charscalex100\i {.
Serv}\i0 \fs18\cf0\f0\charscalex100\i
{ices..............................................................................
............................}\i0 \fs18\cf0\f0\charscalex100\i
{........................21}\i0 \par\pard\li1373\ri0\sl-240\slmult0
\fs20\cf0\f0\charscalex100 {S}\fs16\cf0\f0\charscalex100 {PEED OF}
{ }\fs20\cf0\f0\charscalex100 {D}\fs16\cf0\f0\charscalex100 {ELIVERY}
{..................................................................................
{..........22}\par\pard\li1373\ri0\sl-226\slmult0 \fs18\cf0\f0\charscalex100
{Q}\fs14\cf0\f0\charscalex100 {UALITY}{ }\fs16\cf0\f0\charscalex100
{..................................................................................
........................................................................23}\par\par
d\li1853\ri0\sl-200\slmult0 \fs18\cf0\f0\charscalex100 {EXERCISE: Defining
Qualit}\fs18\cf0\f0\charscalex100 {y in Your
Business ..........................................................................
..........}\fs18\cf0\f0\charscalex100 {................ 24}\par\pard\li1373\ri0\sl-
240\slmult0 \fs20\cf0\f0\charscalex100 {M}\fs16\cf0\f0\charscalex100
{ANAGING }\fs20\cf0\f0\charscalex100 {A}{ }\fs20\cf0\f0\charscalex100
{S}\fs16\cf0\f0\charscalex100 {TRATEGIC}{ }\fs20\cf0\f0\charscalex100
{B}\fs16\cf0\f0\charscalex100 {USINESS}\fs18\cf0\f0\charscalex100
{..................................................................................
..............................26}\par\pard\li1613\ri0\sl-226\slmult0
\fs18\cf0\f0\charscalex100\i {Jiffy Lube }\i0 \fs18\cf0\f0\charscalex100\i
{Prior}\i0 \fs18\cf0\f0\charscalex100\i
{ities ............................................................................
..............................}\i0 \fs18\cf0\f0\charscalex100\i
{..........................28}\i0 \par\pard\li1613\ri0\sl-226\slmult0
\fs18\cf0\f0\charscalex100\i {Wal-Mart Pr}\i0 \fs18\cf0\f0\charscalex100\i
{iorities .........................................................................
...................................}\i0 \fs18\cf0\f0\charscalex100\i
{........................31}\i0 \par\pard\li1613\ri0\sl-226\slmult0
\fs18\cf0\f0\charscalex100\i {Amazon.com }\i0 \fs18\cf0\f0\charscalex100\i
{Prior}\i0 \fs18\cf0\f0\charscalex100\i
{ities.............................................................................
.............................}\i0 \fs18\cf0\f0\charscalex100\i
{......................33}\i0 \par\pard\li1373\ri0\sl-240\slmult0
\fs20\cf0\f0\charscalex100 {I}\fs16\cf0\f0\charscalex100
{DENTIFYING }\fs20\cf0\f0\charscalex100 {C}\fs16\cf0\f0\charscalex100
{ORPORATE }\fs20\cf0\f0\charscalex100 {P}\fs16\cf0\f0\charscalex100 {RIORITIES}
{..................................................................................
............................35}\par\pard\li1853\ri0\sl-200\slmult0
\fs18\cf0\f0\charscalex100 {EXERCISE: Assessing }\fs18\cf0\f0\charscalex100 {Your
Prio}\fs18\cf0\f0\charscalex100
{rities............................................................................
...............}\fs18\cf0\f0\charscalex100 {.......................
37}\par\pard\li1133\ri0\sl-360\slmult0 \fs18\cf0\f0\charscalex100\b {POSITIONING
YOUR
BUSINESS ..........................................................................
............................}\b0 \fs18\cf0\f0\charscalex100\b
{............42}\b0 \par\pard\li1373\ri0\sl-346\slmult0 \fs20\cf0\f0\charscalex100
{P}\fs16\cf0\f0\charscalex100 {ERCEPTION IS}{ }\fs20\cf0\f0\charscalex100 {9/10}
{\super \fs10\up4\cf0\f0\charscalex100 {TH}}\fs20\cf0\f0\charscalex100
{O}\fs16\cf0\f0\charscalex100 {F}{ }\fs20\cf0\f0\charscalex100
{R}\fs16\cf0\f0\charscalex100 {EALITY}{ }\fs18\cf0\f0\charscalex100
{..................................................................................
.................................43}\par\pard\li1373\ri0\sl-226\slmult0
\fs20\cf0\f0\charscalex100 {T}\fs16\cf0\f0\charscalex100 {HE}
{ }\fs20\cf0\f0\charscalex100 {A}\fs16\cf0\f0\charscalex100 {RT
OF }\fs20\cf0\f0\charscalex100 {S}\fs16\cf0\f0\charscalex100 {ELLING}
{ }\fs20\cf0\f0\charscalex100 {V}\fs16\cf0\f0\charscalex100 {ALUE}
{ }\fs20\cf0\f0\charscalex100 {I}\fs16\cf0\f0\charscalex100 {NSTEAD OF}
{ }\fs20\cf0\f0\charscalex100 {P}\fs16\cf0\f0\charscalex100 {RODUCTS OR}
{ }\fs20\cf0\f0\charscalex100 {S}\fs16\cf0\f0\charscalex100 {ERVICES}
{................................................................45}\par\pard\li137
3\ri0\sl-226\slmult0 \fs20\cf0\f0\charscalex100 {G}\fs16\cf0\f0\charscalex100
{ETTING THE}{ }\fs20\cf0\f0\charscalex100 {W}\fs16\cf0\f0\charscalex100 {ORD}
{ }\fs20\cf0\f0\charscalex100 {O}\fs16\cf0\f0\charscalex100
{UT}\fs18\cf0\f0\charscalex100
{..................................................................................
{..49}\par\pard\li1373\ri0\sl-226\slmult0 \fs20\cf0\f0\charscalex100
{T}\fs16\cf0\f0\charscalex100 {HE}{ }\fs20\cf0\f0\charscalex100
{K}\fs16\cf0\f0\charscalex100 {EY}{ }\fs20\cf0\f0\charscalex100
{Q}\fs16\cf0\f0\charscalex100 {UESTIONS }\fs20\cf0\f0\charscalex100
{A}\fs16\cf0\f0\charscalex100 {LL}{ }\fs20\cf0\f0\charscalex100
{C}\fs16\cf0\f0\charscalex100 {USTOMERS }\fs20\cf0\f0\charscalex100
{W}\fs16\cf0\f0\charscalex100 {ANT TO }\fs20\cf0\f0\charscalex100
{K}\fs16\cf0\f0\charscalex100 {NOW}{ }\fs18\cf0\f0\charscalex100
{................................................................................53
}\par\pard\li1853\ri0\sl-213\slmult0 \fs18\cf0\f0\charscalex100 {EXERCISE: How Does
Your Business Address These Five}\fs18\cf0\f0\charscalex100
{ Questions?................................................................
5}\fs18\cf0\f0\charscalex100 {5}\par\pard\li1373\ri0\sl-226\slmult0
{ }\fs20\cf0\f0\charscalex100 {P}\fs16\cf0\f0\charscalex100 {ATH
OF }\fs20\cf0\f0\charscalex100 {M}\fs16\cf0\f0\charscalex100 {OST}
{ }\fs20\cf0\f0\charscalex100 {C}\fs14\cf0\f0\charscalex100
{OMMUNICATION}\fs18\cf0\f0\charscalex100
{..................................................................................
...........................56}\par\pard\li1373\ri0\sl-226\slmult0
{ }\fs20\cf0\f0\charscalex100 {B}\fs16\cf0\f0\charscalex100 {ENEFITS
OF }\fs20\cf0\f0\charscalex100 {P}\fs16\cf0\f0\charscalex100 {ARTNERING}
{..................................................................................
......................................57}\par\pard\li1613\ri0\sl-240\slmult0
\fs18\cf0\f0\charscalex100\i {Creating The \uc1\u8220XW}\i0
\fs18\cf0\f0\charscalex100\i {in-Win-
Win\uc1\u8221X ....................................................................
.................................}\i0 \fs18\cf0\f0\charscalex100\i
{...............59}\i0 \par\pard\li1613\ri0\sl-226\slmult0
\fs18\cf0\f0\charscalex100\i {Choosing Good}\i0 \fs18\cf0\f0\charscalex100\i
{ Partners ........................................................................
....................................................60}\i0 \par\pard\li1613\ri0\sl-
226\slmult0 \fs18\cf0\f0\charscalex100\i {Always Have }\i0
\fs18\cf0\f0\charscalex100\i {A
Contract...........................................................................
..............................}\i0 \fs18\cf0\f0\charscalex100\i
{....................66}\i0 \par\pard\li1133\ri0\sl-360\slmult0
\fs18\cf0\f0\charscalex100\b {MANAGING YOUR
EMPLOYEES .........................................................................
...............................}\b0 \fs18\cf0\f0\charscalex100\b {........68}\b0
{C}\fs14\cf0\f0\charscalex100 {OMMUNICATING}{ }\fs20\cf0\f0\charscalex100
{Y}\fs16\cf0\f0\charscalex100 {OUR}{ }\fs20\cf0\f0\charscalex100
{P}\fs16\cf0\f0\charscalex100 {RIORITIES}{ }\fs18\cf0\f0\charscalex100
{..................................................................................
..............................69}\par\pard\li1853\ri0\sl-200\slmult0
\fs18\cf0\f0\charscalex100 {EXERCISE: Learning Fr}\fs18\cf0\f0\charscalex100 {om
Your
Employees..........................................................................
...............}\fs18\cf0\f0\charscalex100 {...............
69}\par\pard\li1373\ri0\sl-240\slmult0 \fs18\cf0\f0\charscalex100
{I}\fs14\cf0\f0\charscalex100 {DENTIFY}{ }\fs18\cf0\f0\charscalex100
{T}\fs14\cf0\f0\charscalex100 {HE }\fs18\cf0\f0\charscalex100
{M}\fs14\cf0\f0\charscalex100 {AVERICKS}{ }\fs16\cf0\f0\charscalex100
{..................................................................................
............................................7}\fs16\cf0\f0\charscalex100
{0}\par\pard\li1373\ri0\sl-226\slmult0 \fs20\cf0\f0\charscalex100
{T}\fs16\cf0\f0\charscalex100 {AKE}{ }\fs20\cf0\f0\charscalex100
{O}\fs16\cf0\f0\charscalex100 {FF}{ }\fs20\cf0\f0\charscalex100
{T}\fs16\cf0\f0\charscalex100 {HE}{ }\fs20\cf0\f0\charscalex100
{B}\fs16\cf0\f0\charscalex100 {LINDERS}\fs18\cf0\f0\charscalex100
{..................................................................................
{..71}\par\pard\li1853\ri0\sl-200\slmult0 \fs18\cf0\f0\charscalex100 {EXERCISE:
Checkin}\fs18\cf0\f0\charscalex100 {g Your
Biases.............................................................................
....................}\fs18\cf0\f0\charscalex100 {.......................
73}\par\pard\li1373\ri0\sl-226\slmult0 \fs18\cf0\f0\charscalex100
{C}\fs14\cf0\f0\charscalex100 {HOOSING}{ }\fs18\cf0\f0\charscalex100
{G}\fs14\cf0\f0\charscalex100 {OOD}{ }\fs18\cf0\f0\charscalex100
{E}\fs14\cf0\f0\charscalex100 {MPLOYEES}\fs16\cf0\f0\charscalex100
{..................................................................................
........................................74}\par\pard\li1613\ri0\sl-240\slmult0
\fs18\cf0\f0\charscalex100\i {The Art Of In}\i0 \fs18\cf0\f0\charscalex100\i
{tervie}\i0 \fs18\cf0\f0\charscalex100\i
{wing .............................................................................
.................................................74}\i0 \par\pard\li1613\ri0\sl-
226\slmult0 \fs18\cf0\f0\charscalex100\i {Getting A Good Mi}\i0
\fs18\cf0\f0\charscalex100\i {x Of
Employees..........................................................................
......................}\i0 \fs18\cf0\f0\charscalex100\i {.............80}\i0
{H}\fs14\cf0\f0\charscalex100 {OW}{ }\fs18\cf0\f0\charscalex100
{T}\fs14\cf0\f0\charscalex100 {O}{ }\fs18\cf0\f0\charscalex100
{M}\fs14\cf0\f0\charscalex100 {OTIVATE }\fs18\cf0\f0\charscalex100
{E}\fs14\cf0\f0\charscalex100 {MPLOYEES}{ }\fs16\cf0\f0\charscalex100
{..................................................................................
...................................82}\par\pard\li1613\ri0\sl-240\slmult0
\fs18\cf0\f0\charscalex100\i {The Top Ten Empl}\i0 \fs18\cf0\f0\charscalex100\i
{oyee
Motivators ........................................................................
........................}\i0 \fs18\cf0\f0\charscalex100\i {.............83}\i0
\par\pard\li1613\ri0\sl-226\slmult0 \fs18\cf0\f0\charscalex100\i {Performance-Based
Compensation.......................................................................
..........................}\i0 \fs18\cf0\f0\charscalex100\i {............85}\i0
\par\pard\li1613\ri0\sl-226\slmult0 \fs18\cf0\f0\charscalex100\i {Breaking The
Corporate
Rulebook ..........................................................................
......................}\i0 \fs18\cf0\f0\charscalex100\i {.............88}\i0
\par\pard\li1613\ri0\sl-226\slmult0 \fs18\cf0\f0\charscalex100\i {Be Honest With
Your
Employees .........................................................................
.........................}\i0 \fs18\cf0\f0\charscalex100\i {..............90}\i0
\par\pard\li1613\ri0\sl-240\slmult0 \fs18\cf0\f0\charscalex100\i {Lunch And }\i0
\fs18\cf0\f0\charscalex100\i
{Learns............................................................................
...........................................................91}\i0
\par\pard\li1613\ri0\sl-226\slmult0 \fs18\cf0\f0\charscalex100\i {Get The
Employee\uc1\u8217Xs Fam}\i0 \fs18\cf0\f0\charscalex100\i {ily On Your
Side ..............................................................................
...........}\i0
\fs18\cf0\f0\charscalex100\i {........91}\i0 \par\pard\li1133\ri0\sl-
346\slmult0 \fs18\cf0\f0\charscalex100\b {WHAT MAKES A GOOD BUSINESS
GREAT? ............................................................................
...............94}\b0
\par\pard\sect\sectd\sbkpage\pard\sect\sectd\sbkpage\pgwsxn12240\pghsxn15840\margls
xn666\margrsxn133\margtsxn666\margbsxn173\pard\li1133\ri0\sl-213\slmult0
{Chapter 1}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
\fs32\cf0\f0\charscalex100\b {What Makes a Business Successful? }\b0
\fs24\cf0\f0\charscalex100\i {\uc1\u8220XMoney is better than poverty}\i0
\fs24\cf0\f0\charscalex100\i {, if only for financial re}\i0
\fs24\cf0\f0\charscalex100\i {asons.\uc1\u8221X (Woody Allen) }\i0
\fs18\cf0\par\pard\li1133\ri0\sl-400\slmult0 \fs24\cf0\f0\charscalex100
{I\uc1\u8217Xve known many people in my career who are
passi}\fs24\cf0\f0\charscalex100 {onate about business. They love it.
They}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{can\uc1\u8217Xt get enough of it. Many of these people }\fs24\cf0\f0\charscalex100
{are financially independent. But still they}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {involve themselves in all kinds of pet
busine}\fs24\cf0\f0\charscalex100 {ss projects \uc1\u8211X everything from
investing in new}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{start-ups, to speaking engagements, to becoming }\fs24\cf0\f0\charscalex100 {a
member of someone\uc1\u8217Xs board of directors.}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {Many will even start up their
ow}\fs24\cf0\f0\charscalex100 {n companies again and again. Once someone has
success in}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{business, it tends to get in his or her blood.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {I call
this desire to be in}\fs24\cf0\f0\charscalex100 {volved with business,
\uc1\u8220XThe Bill Gates Syndrome.\uc1\u8221X The basic}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {question is, \uc1\u8220XWhy did Bill Gates
continue to work }\fs24\cf0\f0\charscalex100 {after he made his first billion
dollars?\uc1\u8221X It\uc1\u8217Xs}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {certainly not because he needed more money.
He}\fs24\cf0\f0\charscalex100 {re is a man who could afford to do
anything}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {he wanted
to do in life. And yet he chose to }\fs24\cf0\f0\charscalex100 {stay engaged in
business. I\uc1\u8217Xm sure most people}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {would agree that a man like this has achieved
\uc1\u8220Xb}\fs24\cf0\f0\charscalex100 {usiness success.\uc1\u8221X It
w}\fs24\cf0\f0\charscalex100 {ould be interesting to}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {ask Bill Gates what his definition of a
succe}\fs24\cf0\f0\charscalex100 {ssful business is and what goals he
was}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {personally
pursuing by staying involved in business.}\fs24\cf0\f0\charscalex100 { What aspect
of \uc1\u8220Xsuccess\uc1\u8221X did he feel he}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {hadn\uc1\u8217Xt achieved
yet? }\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Sadly, most of us aren\uc1\u8217Xt Bill
Gates. Some }\fs24\cf0\f0\charscalex100 {readers of this book will be the
independently}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{wealthy types. Most will not. Some of you l}\fs24\cf0\f0\charscalex100 {ove
business and can\uc1\u8217Xt get enough of it. Others}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {are just in it to pay the bills or
accomplish so}\fs24\cf0\f0\charscalex100 {me specific goal or other, but would
certainly}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {not take
the Bill Gates approach to life and }\fs24\cf0\f0\charscalex100 {business. You
would be on a yacht in the south}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {pacific or fishing in Alaska or touring
Europe}\fs24\cf0\f0\charscalex100 { \uc1\u8211X anything but going
to }\fs24\cf0\f0\charscalex100 {an office every day. If}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {money is your only measure of success, when
is enough, enough? To some people, success in}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {business clearly involves more than just
the accumulation of wealth.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {Answers
regarding what makes a business suc}\fs24\cf0\f0\charscalex100 {cessful will vary
from person to person. You}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {need to decide why you want to be in business. When
will you have achieved \uc1\u8220Xsuccess\uc1\u8221X and}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {what will you do with it once
you\uc1\u8217Xve achieved }\fs24\cf0\f0\charscalex100 {it? These are the first
questions you must}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{answer in order to succeed in business. Answer}\fs24\cf0\f0\charscalex100 {s may
range from \uc1\u8220XI want to be my own boss\uc1\u8221X}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {to \uc1\u8220XI want to be
independently }\fs24\cf0\f0\charscalex100 {wealthy\uc1\u8221X to \uc1\u8220XI want
to change}\fs24\cf0\f0\charscalex100 { the world in meaningful
ways\uc1\u8221X}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{to \uc1\u8220XI simply enjoy doing it.\uc1\u8221X These are all
valid }\fs24\cf0\f0\charscalex100 {answers. The point is, if you\uc1\u8217Xre only
goal is}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {to become
rich then you may never achieve happin}\fs24\cf0\f0\charscalex100 {ess from your
business. The term \uc1\u8220Xrich\uc1\u8221X is}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {relative. There is no end to it. If you
don\uc1\u8217Xt }\fs24\cf0\f0\charscalex100 {know what your final goal is, how will
you know}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {when
you\uc1\u8217Xve succeeded? Hence, rule number one for succeeding in business is
simply to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {define
what success means to you.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Regardless
of your reasons for going }\fs24\cf0\f0\charscalex100 {into business,
there\uc1\u8217Xs one har}\fs24\cf0\f0\charscalex100 {d, fast rule that applies
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {all businesses.
It is that no business, whethe}\fs24\cf0\f0\charscalex100 {r large or small, and no
businessperson, whether}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {experienced or not, will be
a }\fs24\cf0\f0\charscalex100 {success in today\uc1\u8217Xs economy for
ve}\fs24\cf0\f0\charscalex100 {ry long if the business
isn\uc1\u8217Xt}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\ma
rgrsxn133\cols2\colno1\colw9133\colsr-0\colno2\colw2306\pard\li1133\ri0\sl-
226\slmult0 \fs20\cf0\f0\charscalex100\i {What Makes a Business Successful }\i0
\par\column\pard\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-
\fs18\cf0\par\pard\li0\ri0\sl-226\slmult0 \fs20\cf0\f0\charscalex100\i {Page
1}\i0
\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\pard\s
ect\sectd\sbkpage\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\margtsxn666\margb
sxn173\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {profitable
and cash flow positive. In some ways this is an unfortunate development of
our}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {society. But it
is also a hard, }\fs24\cf0\f0\charscalex100 {cold reality. Regardless of
your }\fs24\cf0\f0\charscalex100 {personal reasons for engaging
in}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {business, the
bottom line is that businesses them}\fs24\cf0\f0\charscalex100 {selves exist to
make money. Whatever other}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {goals may be involved with running a
business, }\fs24\cf0\f0\charscalex100 {in the end making money is almost always
a}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {prerequisite to
achieving thos}\fs24\cf0\f0\charscalex100 {e goals. If your business
doesn\uc1\u8217Xt generate more money than it}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {spends, it simply won\uc1\u8217Xt be around
for very }\fs24\cf0\f0\charscalex100 {long and you won\uc1\u8217Xt achieve your
goals for}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {success.
There\uc1\u8217Xs a basic but profound sayi}\fs24\cf0\f0\charscalex100 {ng that
applies to}\fs24\cf0\f0\charscalex100 { all
businesses:}\par\pard\li1853\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1853\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\i {\uc1\u8220XIf your outgo exceeds your
income, your upkeep will be your downfall.\uc1\u8221X}\i0 \par\pard\li1133\ri0\sl-
{If people running businesses woul}\fs24\cf0\f0\charscalex100 {d only adhere to
this one pr}\fs24\cf0\f0\charscalex100 {inciple, far fewer
businesses}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {would
fail. Unfortunately, most people I\uc1\u8217Xve en}\fs24\cf0\f0\charscalex100
{countered in business }\fs24\cf0\f0\charscalex100 {don\uc1\u8217Xt think this
way.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Ironically,
the once successful, independently }\fs24\cf0\f0\charscalex100 {wealthy business-
lover }\fs24\cf0\f0\charscalex100 {types are often the}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {worst at following this rule. Many of these
peopl}\fs24\cf0\f0\charscalex100 {e have a tendency to try to spend their
way}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {out of problems
until the company fails, accumula}\fs24\cf0\f0\charscalex100 {tes a large amount of
}\fs24\cf0\f0\charscalex100 {debt, or is turned}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {over to someone else to run it for them.
Don\uc1\u8217X}\fs24\cf0\f0\charscalex100 {t make this mistake. Rule number two
for}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {succeeding in
business is don\uc1\u8217Xt let your outgo exceed your
income.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Having been a professional
cons}\fs24\cf0\f0\charscalex100 {ultant during much of my
car}\fs24\cf0\f0\charscalex100 {eer, I\uc1\u8217Xve had the opportunity
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {work with
literally dozens of companies rangin}\fs24\cf0\f0\charscalex100 {g from small, two-
man start-ups to large,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {global corporations with thousands of
empl}\fs24\cf0\f0\charscalex100 {oyees. It has amazed me how many times
I\uc1\u8217Xve}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{walked out of a vice president\uc1\u8217Xs or CEO\uc1\u8217Xs
o}\fs24\cf0\f0\charscalex100 {ffice thinking, \uc1\u8220XHow have these guys stayed
in}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {business this
long?\uc1\u8221X Common se}\fs24\cf0\f0\charscalex100 {nse is often killed by the
co}\fs24\cf0\f0\charscalex100 {rporate think tank. Reason
is}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {frequently
replaced by politics. And many busin}\fs24\cf0\f0\charscalex100 {esses are only
successful because they were}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {lucky enough to be in the ri}\fs24\cf0\f0\charscalex100
{ght place at the right time.}\par\pard\li1133\ri0\sl-213\slmult0
{I\uc1\u8217Xve decided that achieving success in
business }\fs24\cf0\f0\charscalex100 {can be boiled down to three basic
elements:}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
333\slmult0 \*\tx1853\fs24\cf0\f1\charscalex100 {\uc1\u61608X}\tab
\fs24\cf0\f0\charscalex100 {What you know;}\par\pard\li1493\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1493\ri0\sl-333\slmult0 \*\tx1853\fs24\cf0\f1\charscalex100
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {Who you know;
and}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Pure, dumb luck}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Everyone
wants to say that if you\uc1\u8217Xre smart and work hard, you\uc1\u8217Xll
succeed. This is, after all,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {the American dream. Oh that it
we}\fs24\cf0\f0\charscalex100 {re true in every case. We\uc1\u8217Xve
a}\fs24\cf0\f0\charscalex100 {ll seen brilliant people
with}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {brilliant
ideas fail simply because they were }\fs24\cf0\f0\charscalex100 {in the wrong place
at the wrong time and we all}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {know some absolute idiot who has succeeded simply
because they knew someone or}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {happened to be in the righ}\fs24\cf0\f0\charscalex100
{t place at the right time.}\par\pard\li1133\ri0\sl-213\slmult0
{I\uc1\u8217Xve decided that if you have all three of}\fs24\cf0\f0\charscalex100
{ these factors going for you, you will succeed in}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {business every single time. It\uc1\u8217Xs
as simple as}\fs24\cf0\f0\charscalex100 { that. Nothing will
st}\fs24\cf0\f0\charscalex100 {and in your
way\uc1\u8230Xperiod.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {Having two of these three elements
gives }\fs24\cf0\f0\charscalex100 {you a pretty good chance for success. (And by
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {way, it
doesn\uc1\u8217Xt matter which two. In spite of }\fs24\cf0\f0\charscalex100 {our
hopes of it being otherwise, these three}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {factors are equally weighted. Give each
of }\fs24\cf0\f0\charscalex100 {them 33% of the sum of}\fs24\cf0\f0\charscalex100 {
business success.)
If}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\col
s2\colno1\colw7693\colsr-0\colno2\colw3746\pard\li1133\ri0\sl-213\slmult0
2 }\i0 \par\column\pard\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-
\fs18\cf0\par\pard\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-413\slmult0
\fs20\cf0\f0\charscalex100\i {The Basics of Business}\i0
{you\uc1\u8217Xve only got one of the three going for
you, }\fs24\cf0\f0\charscalex100 {then you\uc1\u8217Xre definitely fighting an
uphill}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {battle. And
if you lack all three, give up a}\fs24\cf0\f0\charscalex100 {nd go do something
else. You haven\uc1\u8217Xt got a shot.}\par\pard\li1133\ri0\sl-213\slmult0
{Unfortunately, we only have contro}\fs24\cf0\f0\charscalex100 {l, or at least
influence, on }\fs24\cf0\f0\charscalex100 {two of these three. It does
you}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {no good to give
yourself either criticism or pr}\fs24\cf0\f0\charscalex100 {aise caused by pure,
dumb luck. And there\uc1\u8217Xs a}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {lot of it, both good and bad, involved with
every }\fs24\cf0\f0\charscalex100 {business. So, my advice would be to
forget}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {about the
luck factor. You may be blessed or}\fs24\cf0\f0\charscalex100 { cursed by
it\uc1\u8230Xmaybe both, just at different}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {times or in different areas. That\uc1\u8217Xs just the
wa}\fs24\cf0\f0\charscalex100 {y it is. Hence, rule number three for
succeeding}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {in
business is to focus on those things that }\fs24\cf0\f0\charscalex100 {can
positively influence your business and give it}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {the best possible chance of success,
namely, }\fs24\cf0\f0\charscalex100 {develop your knowledge/skills and learn how
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {get other people
to}\fs24\cf0\f0\charscalex100 { help you succeed.}\par\pard\li1133\ri0\sl-
{For the most part, this book focuses on rule }\fs24\cf0\f0\charscalex100 {number
three. It helps entrepreneurs understand}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {the basic principles of building a solid
bus}\fs24\cf0\f0\charscalex100 {iness model and stresse}\fs24\cf0\f0\charscalex100
{s the importance of }\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {developing positive
relationships }\fs24\cf0\f0\charscalex100 {with other people who can
he}\fs24\cf0\f0\charscalex100 {lp your business succeed.
This}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {book provides
a structured process that will help}\fs24\cf0\f0\charscalex100 { you to think
strategically and to define and}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {manage your business in ways that will produce the best
possible results. It is intended for}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {both the \uc1\u8220Xexperienced\uc1\u8221X entrepreneur
who is still }\fs24\cf0\f0\charscalex100 {interested in learning more as well
as the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {budding
young business owner who is just trying }\fs24\cf0\f0\charscalex100 {to provide for
his or her family. The}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {concepts found in this book apply to any
busin}\fs24\cf0\f0\charscalex100 {ess, regardless of
its }\fs24\cf0\f0\charscalex100 {size, offerings, or long-}\par\pard\li1133\ri0\sl-
280\slmult0 \fs22\cf0\f0\charscalex100 {term goals. If you put them into practice,
your }\fs22\cf0\f0\charscalex100 {chances of success w}\fs22\cf0\f0\charscalex100
{ill increase
exponentially.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\mar
grsxn133\cols2\colno1\colw9133\colsr-0\colno2\colw2306\pard\li1133\ri0\sl-
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs20\cf0\f0\charscalex100\i {What
Makes a Business Successful }\i0 \par\column\pard\li0\ri0\sl-213\slmult0
3}\i0
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {Chapter
2}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
386\slmult0 \fs32\cf0\f0\charscalex100\b {Creating a Successful Strategy}\b0
\fs24\cf0\f0\charscalex100\i {\uc1\u8220XThe secret of success is constancy of
purpose.\uc1\u8221X (Benjamin Disraeli) }\i0 \par\pard\li1133\ri0\sl-
\fs18\cf0\par\pard\li1133\ri0\sl-400\slmult0 \fs24\cf0\f0\charscalex100 {I once saw
a Dilbert cartoon that showed Dilbert\uc1\u8217Xs misguided boss seeking advice
on}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {corporate
strategy from Dogbert, who was smugly }\fs24\cf0\f0\charscalex100 {sitting behind
his large desk that merely}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {said \uc1\u8220XConsultant\uc1\u8221X on it. Dogbert
declared, }\fs24\cf0\f0\charscalex100 {\uc1\u8220XIt\uc1\u8217Xs easy to create a
strategy. Write down}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{everything you do preceded by the words,
\uc1\u8216XIncreas}\fs24\cf0\f0\charscalex100 {e our market share
by\uc1\u8230X\uc1\u8217X\uc1\u8221X To this advice}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {the boss responded, \uc1\u8220XWhat if we
change what we}\fs24\cf0\f0\charscalex100 { do?\uc1\u8221X Dogbert replied,
\uc1\u8220XCall me and I\uc1\u8217Xll sell}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {you some more valuable
advice.\uc1\u8221X}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {As silly
as it sounds, many businesses take an }\fs24\cf0\f0\charscalex100 {approach similar
to Dogbert\uc1\u8217Xs when creating}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {their corporate strategy. That is, many
busine}\fs24\cf0\f0\charscalex100 {ss leaders don\uc1\u8217Xt know
how }\fs24\cf0\f0\charscalex100 {to create a solid,}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {long-term strategy. Or worse, they
don\uc1\u8217Xt see the }\fs24\cf0\f0\charscalex100 {need to create one at all. As
a result, they}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {look
at what they perceive are }\fs24\cf0\f0\charscalex100 {their current strengths and
basi}\fs24\cf0\f0\charscalex100 {cally say, \uc1\u8220XLet\uc1\u8217Xs build a
more}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {successful
business by doing more of what we are }\fs24\cf0\f0\charscalex100 {already
doing.\uc1\u8221X Usually this involves little}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {more than staying in their comfort zone
by }\fs24\cf0\f0\charscalex100 {doing the things with wh}\fs24\cf0\f0\charscalex100
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\fs24\cf0\f0\charscalex100 {familiar and viewing the rest as
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346\slmult0 \fs24\cf0\f0\charscalex100 {In some cases this approach actually works
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is}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {usually due to
pure dumb luck rather than some }\fs24\cf0\f0\charscalex100 {predetermined plan.
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\fs24\cf0\f0\charscalex100 {for being in the right place at the right time
w}\fs24\cf0\f0\charscalex100 {ith the right product. Unfortunately, even
those}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {companies
fortunate enough to succeed in th}\fs24\cf0\f0\charscalex100 {is manner generally
only succeed until some }\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {competitor comes along with a well-conceived
st}\fs24\cf0\f0\charscalex100 {rategy that quickly puts the lucky
company}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {out of
business. Even those companies who have experienced great success in this
manner}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {will usually
have difficulty maintaining that }\fs24\cf0\f0\charscalex100 {success when the
competition gets tough. And it}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {doesn\uc1\u8217Xt seem to matter whether a company is a
}\fs24\cf0\f0\charscalex100 {startup with a clean slate of brand new
ideas}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {or a large,
experienced company that has been }\fs24\cf0\f0\charscalex100 {in business for
years. Microsoft, for example,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {is perhaps the king of building solid
strategies}\fs24\cf0\f0\charscalex100 { that have put even their most
formidable}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{competitors out of business.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {This
chapter will help you to think outside th}\fs24\cf0\f0\charscalex100 {e box
concerning your business. It will help you}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {to view your business in new ways and
assist}\fs24\cf0\f0\charscalex100 { you in creating a more successful, long-
term }\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{strategy.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\b \i {Common Mistakes}\b0 \i0 \par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Perhaps the most common mistake companies
make}\fs24\cf0\f0\charscalex100 { when trying to create a strategy is
that}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {they tend to
focus only on their products or }\fs24\cf0\f0\charscalex100 {services. This is
often followed by a direct}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {competitive appeal of some kind to either cost or
quality or both. For example they may say,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {\uc1\u8220XWe\uc1\u8217Xll storm the market and beat
our comp}\fs24\cf0\f0\charscalex100 {etition because nobody else has feature XYZ
in}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {their
product.\uc1\u8221X Or another common strategy is, }\fs24\cf0\f0\charscalex100
{\uc1\u8220XWe\uc1\u8217Xll be successful }\fs24\cf0\f0\charscalex100 {by providing
the same }\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {quality
as our competitors for 10% less than they sell
it.\uc1\u8221X}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\mar
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{The Basics of Business}\i0
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li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-213\slmult0
{While statements such as these may be true}\fs24\cf0\f0\charscalex100 { and may
even give you a solid advantage in}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {competing for customers, a focus on your
offeri}\fs24\cf0\f0\charscalex100 {ngs is only one part
of}\fs24\cf0\f0\charscalex100 { the strategic puzzle}\par\pard\li1133\ri0\sl-
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compared }\fs24\cf0\f0\charscalex100 {to a comprehensive, long-term
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333\slmult0 \fs24\cf0\f0\charscalex100 {Another common mistake companies make when
cr}\fs24\cf0\f0\charscalex100 {eating a corporate strate}\fs24\cf0\f0\charscalex100
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focus on specific, }\fs24\cf0\f0\charscalex100 {strategic subsets.
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potential}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {customer.
But this is often exactly what you need}\fs24\cf0\f0\charscalex100 { to do in order
to achieve long-term success.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {No company can be all things to all people.
Al}\fs24\cf0\f0\charscalex100 {most every business that tries will
eventually}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {fail. In
order to create a successful strategy }\fs24\cf0\f0\charscalex100 {you must focus
your efforts on specific areas and}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {then become the best at meeting those specific needs.
As strange as it sounds, creating a}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {successful strategy usually deals as much
with}\fs24\cf0\f0\charscalex100 { what you\uc1\u8217Xre NOT going to do as it does
with}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {what you ARE
going to do. We\uc1\u8217Xll explore this con}\fs24\cf0\f0\charscalex100 {cept more
in later se}\fs24\cf0\f0\charscalex100 {ctions of this
book.}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {The bottom
line is that you must find or crea}\fs24\cf0\f0\charscalex100 {te something within
your chosen realm of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{business that makes you unique and therefore wort}\fs24\cf0\f0\charscalex100 {hy
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333\slmult0 \fs24\cf0\f0\charscalex100 {For example, here are two businesses
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\fs24\cf0\f0\charscalex100 {compete with each other because of their
unique}\fs24\cf0\f0\charscalex100 { focus. Let\uc1\u8217Xs compare Motel 6 with
Marriott}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Resort
hotels. Even though these two businesse}\fs24\cf0\f0\charscalex100 {s are in
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successful.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {The
column on the left shows the specific areas}\fs24\cf0\f0\charscalex100 { of focus
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\fs24\cf0\f0\charscalex100 {business. The column on the right shows how
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\*\tx1493\fs24\cf0\f3\charscalex100 {\uc1\u61623X}\tab \fs24\cf0\f0\charscalex100
{Basic furniture}\par\pard\li1133\ri0\sl-306\slmult0
{No concierge}\par\pard\li1133\ri0\sl-306\slmult0
{No large meeting rooms }\par\pard\li1133\ri0\sl-306\slmult0
{No restaurants}\par\pard\li1133\ri0\sl-306\slmult0
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\fs24\cf0\f0\charscalex100\b {The Bottom Line: }\b0 \par\pard\li1133\ri0\sl-
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346\slmult0 \fs24\cf0\f0\charscalex100\b {Marriott Resort Hotels}\b0
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\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\pard\l
\fs24\cf0\f0\charscalex100 {By focusing on different approaches to the
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businesses}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {have
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\fs20\cf0\f0\charscalex100\i {Page 5}\i0
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413\slmult0 \fs24\cf0\f0\charscalex100 {The question that should be running through
you}\fs24\cf0\f0\charscalex100 {r mind right now is whether or not these
two}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {hotel chains
are leaving money on }\fs24\cf0\f0\charscalex100 {the table by not targeting all
t}\fs24\cf0\f0\charscalex100 {ypes of travelers. The
answer}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {is,
\uc1\u8220XYes they are. And that\uc1\u8217Xs}\fs24\cf0\f0\charscalex100 { why
they\uc1\u8217Xre so successful.\uc1\u8221X}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {If either
of these hotel chains tried to target}\fs24\cf0\f0\charscalex100 { both types of
customers they would quickly find}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {it difficult to succeed. Not just because neither
ty}\fs24\cf0\f0\charscalex100 {pe of customer would stay at such a
mixed}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {up hotel,
although that\uc1\u8217Xs probably true as well, }\fs24\cf0\f0\charscalex100 {but
also because neither business would be}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {able to provide both types of
tr}\fs24\cf0\f0\charscalex100 {avel experiences wit}\fs24\cf0\f0\charscalex100
{hout incurring more cost and effort. It is}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {also difficult to create a
consis}\fs24\cf0\f0\charscalex100 {tent message or brand under
thes}\fs24\cf0\f0\charscalex100 {e circumstances. It is only
by}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {specializing and
streamlining that they have been}\fs24\cf0\f0\charscalex100 { able to become so
successful within their}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {target markets. If one hotel tried to focus
on }\fs24\cf0\f0\charscalex100 {both types of customers it would actually
result}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {in doing a
poor job at targeting }\fs24\cf0\f0\charscalex100 {two types of
traveler}\fs24\cf0\f0\charscalex100 {s, rather than a
good }\fs24\cf0\f0\charscalex100 {job at targeting one}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {type of traveler.}\par\pard\li1133\ri0\sl-
{This same principle can be applied to most}\fs24\cf0\f0\charscalex100 { successful
businesses.}\fs24\cf0\f0\charscalex100 { When
differentiating}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{yourself from your competitors }\fs24\cf0\f0\charscalex100 {you should always be
able to }\fs24\cf0\f0\charscalex100 {find some significant
advantage}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {that
becomes the main focus of your business.}\par\pard\li1133\ri0\sl-213\slmult0
360\slmult0 \fs24\cf0\f0\charscalex100\b \i {The Circles of Business
Strategy}\b0 \i0 \par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {In
order to succeed, every company must have }\fs24\cf0\f0\charscalex100 {a working
solution for three basic components}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {of business. They must 1) have something to
se}\fs24\cf0\f0\charscalex100 {ll, 2) have someone to }\fs24\cf0\f0\charscalex100
{sell it to, and 3) have}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {some way of getting what they sell in front of
t}\fs24\cf0\f0\charscalex100 {hose they want to sell it to. If any company
is}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {lacking in any
of these three basic component}\fs24\cf0\f0\charscalex100 {s it will fail. It is as
simply as that.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {These
three components of busin}\fs24\cf0\f0\charscalex100 {ess are perhaps best
viewed}\fs24\cf0\f0\charscalex100 { as three circles or
Venn}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{diagrams.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsx
n133\cols3\colno1\colw4573\colsr-0\colno2\colw2720\colsr-
0\colno3\colw4146\pard\li1960\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1960\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\b {Products}\b0 \par\pard\li2253\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100\b {And}\b0 \par\pard\li1986\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100\b {Services}\b0 \par\column\pard\li0\ri0\sl-
{Customers}\b0 \par\pard\li66\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100\b {And
Their}\b0 \par\pard\li266\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\b
{Needs}\b0 \par\column\pard\li133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li133\ri0\sl-320\slmult0 \fs24\cf0\f0\charscalex100\b {Ways
To}\b0 \par\pard\li200\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\b
{Access}\b0 \par\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\b
{Customers}\b0
{All businesses need to focus on all three of these }\fs24\cf0\f0\charscalex100
{areas in order to be in}\fs24\cf0\f0\charscalex100 { business in the
first}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {place.
However, successful strategies are }\fs24\cf0\f0\charscalex100 {created when a
business focuses on a specific}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {subset within one of these circles \uc1\u8211X a circle
wi}\fs24\cf0\f0\charscalex100 {thin the circle so to }\fs24\cf0\f0\charscalex100
{speak. To state the obvious,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {there\uc1\u8217Xs no company in the world that sells
all pr}\fs24\cf0\f0\charscalex100 {oducts and services to all types of
customers}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {using all
known methods to acce}\fs24\cf0\f0\charscalex100 {ss those customers. Bringing
th}\fs24\cf0\f0\charscalex100 {is statement down to
reality,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{there\uc1\u8217Xs no successful company in any given
indu}\fs24\cf0\f0\charscalex100 {stry (including yours)
th}\fs24\cf0\f0\charscalex100 {at sells all products}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {and services available to
that }\fs24\cf0\f0\charscalex100 {industry to all potential
customers }\fs24\cf0\f0\charscalex100 {within that industry using
all}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {known industry
methods to access those customer}\fs24\cf0\f0\charscalex100 {s. Just like the
examples of Motel 6
and}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\co
ls2\colno1\colw7693\colsr-0\colno2\colw3746\pard\li1133\ri0\sl-213\slmult0
293\slmult0 \fs20\cf1\f0\charscalex100\i {Page 6 }\i0 \par\column\pard\li0\ri0\sl-
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
413\slmult0 \fs24\cf0\f0\charscalex100 {Marriott Resort Hotels, good
st}\fs24\cf0\f0\charscalex100 {rategy comes when a company
fo}\fs24\cf0\f0\charscalex100 {cuses on one of these
circles}\par\pard\li1133\ri0\sl-320\slmult0 \fs24\cf0\f0\charscalex100 {better or
more effectively than their competition does.}\fs16\cf0\f3\charscalex100
{\uc1\u8727X}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
306\slmult0 \fs24\cf0\f0\charscalex100 {When done properly, the result of focusing
your }\fs24\cf0\f0\charscalex100 {strategy on only one of the three circles
is}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {that all of the
choices you make regarding the other two circles will be based on
that}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {decision. For
example, if your strategy is focu}\fs24\cf0\f0\charscalex100 {sed on a specific
type of customer (the middle}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {circle), then every
decision }\fs24\cf0\f0\charscalex100 {you make regarding the types
of}\fs24\cf0\f0\charscalex100 { products you sell and how
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100 {access your
customers should be based on that type}\fs22\cf0\f0\charscalex100 { of customer.
Likewise, if your strategy is}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {focused on how you access customers (the
third }\fs24\cf0\f0\charscalex100 {circle), then every decision you
make}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {regarding
products and type}\fs24\cf0\f0\charscalex100 {s of customers should be based on how
you access your}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{customers, and so forth.}\par\pard\li1133\ri0\sl-213\slmult0
{Let\uc1\u8217Xs look at a few successful businesses to }\fs24\cf0\f0\charscalex100
{illustrate how this works. Each of these}\par\pard\li1133\ri0\sl-280\slmult0
\fs22\cf0\f0\charscalex100 {businesses have succeeded by focusing on a
subset }\fs22\cf0\f0\charscalex100 {of one of the three
ci}\fs22\cf0\f0\charscalex100 {rcles of business and}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {using that focus to determine how they will
approach and execute within the other two}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {circles.}\par\pard\li1133\ri0\sl-213\slmult0
373\slmult0 \fs24\cf0\f0\charscalex100\b {Jiffy Lube Strategy}\b0
\fs24\cf0\f0\charscalex100 {We\uc1\u8217Xll start with Jiffy Lube. On which
circle }\fs24\cf0\f0\charscalex100 {does Jiffy Lube base its entire strategy and
on}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {which subsets
within each circle does Jiffy Lube }\fs24\cf0\f0\charscalex100 {focus as a result
of that strategy? Jiffy Lube}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {has made a name for itself by offering a
specific }\fs24\cf0\f0\charscalex100 {subset of services
th}\fs24\cf0\f0\charscalex100 {at can be quickly and}\par\pard\li1133\ri0\sl-
280\slmult0 \fs22\cf0\f0\charscalex100 {easily provided to its customers. In other
words, }\fs22\cf0\f0\charscalex100 {they focus on the first circle of strategy,
that}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {of products
and services. This is what different}\fs24\cf0\f0\charscalex100 {iates them from
their competitors. This main}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {focus permeates every decision they
ma}\fs24\cf0\f0\charscalex100 {ke regarding the other two
circles.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Think about Jiffy Lube for a minute.
What }\fs24\cf0\f0\charscalex100 {can you buy at Jiffy Lube? You can only buy
a}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {certain number of
car care produc}\fs24\cf0\f0\charscalex100 {ts and services. These
offerings}\fs24\cf0\f0\charscalex100 { are strategically limited
on}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {purpose in order
to meet a specific, reoccurring }\fs24\cf0\f0\charscalex100 {need of car owners.
Basically Jiffy Lube said,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {\uc1\u8220XEvery car owner needs to change their oil on
a }\fs24\cf0\f0\charscalex100 {regular basis. What othe}\fs24\cf0\f0\charscalex100
{r services are kind of}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {like that? What else can we do for a car in
a}\fs24\cf0\f0\charscalex100 {bout the same amount of time it takes to
change}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{oil?\uc1\u8221X As a result, you\uc1\u8217Xll never
see }\fs24\cf0\f0\charscalex100 {a Jiffy Lube store with products or services that
take a long}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {time to
deliver. They have chosen to focus on th}\fs24\cf0\f0\charscalex100 {at specific
subset of se}\fs24\cf0\f0\charscalex100 {rvices that both
meets}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {a basic need
and can ge}\fs24\cf0\f0\charscalex100 {t you in and out
quickly.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Let\uc1\u8217Xs look at how this
affect}\fs24\cf0\f0\charscalex100 {s the other two circles.
We }\fs24\cf0\f0\charscalex100 {should notice that every
other}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {decision
Jiffy Lube makes in the other two circle}\fs24\cf0\f0\charscalex100 {s is based on
their chos}\fs24\cf0\f0\charscalex100 {en strategic focus
of}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {offering a
specific subset of products and serv}\fs24\cf0\f0\charscalex100 {ices. On what
types of customers does Jiffy}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {Lube focus? Most of the
differe}\fs24\cf0\f0\charscalex100 {ntiators within this category
su}\fs24\cf0\f0\charscalex100 {ch as wealth, geography,
make}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {of vehicle,
etc. make no difference to Jiffy Lube}\fs24\cf0\f0\charscalex100 {. Due to the type
of services they provide,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {they target pretty much anyone with a car.
Th}\fs24\cf0\f0\charscalex100 {ere\uc1\u8217Xs not much strategic differentiation
there.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
426\slmult0 \fs12\cf0\f3\charscalex100 {\uc1\u8727X}\fs20\cf0\f0\charscalex100
{ Michael Porter, a professor at Harv}\fs20\cf0\f0\charscalex100 {ard University,
is probably the originator and foremost advocate of this}\par\pard\li1133\ri0\sl-
226\slmult0 \fs20\cf0\f0\charscalex100 {type of strategic thinking. I highly
recommend reading his work entitled }\fs20\cf0\f0\charscalex100\i {What Is
Strategy}\i0 \fs20\cf0\f0\charscalex100 { printed in the
Harvard }\par\pard\li1133\ri0\sl-226\slmult0 \fs20\cf0\f0\charscalex100 {Business
Review, November-December 1996}\fs20\cf0\f0\charscalex100 {. Several of the
examples used }\fs20\cf0\f0\charscalex100 {in this book
co}\fs20\cf0\f0\charscalex100 {me from Michael}\par\pard\li1133\ri0\sl-
226\slmult0 \fs20\cf0\f0\charscalex100 {Porter\uc1\u8217Xs
writings.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn
\fs20\cf0\f0\charscalex100\i {Creating a Successful Strategy}\i0
7}\i0
ect\sectd\sbkpage{\shp
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{\sp{\sn pVerticies}{\sv 8;1;(0,0);}}
{\sp{\sn pSegmentInfo}{\sv 2;4;16384;45824;24577;32768}}
{\sp{\sn pVerticies}{\sv 8;10;(0,720);(160,93);(186,106);(26,720);(0,720);
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{\sp{\sn fLayoutInCell}{\sv 1}}}}{\shp
{\*\shpinst
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413\slmult0 \fs24\cf0\f0\charscalex100 {Jiffy Lube has chosen services that apply
to a}\fs24\cf0\f0\charscalex100 {ll of them. In fact, that\uc1\u8217Xs probably one
of the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {reasons they
chose to provide t}\fs24\cf0\f0\charscalex100 {hose services in the first
place.}\fs24\cf0\f0\charscalex100 { Everybody needs them. It\uc1\u8217Xs
all}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {about the
services.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Likewise, how does Jiffy Lube access its
custom}\fs24\cf0\f0\charscalex100 {ers? Really, the
only }\fs24\cf0\f0\charscalex100 {way they access their}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {customers is via
strategically }\fs24\cf0\f0\charscalex100 {located retail stores. They
obviou}\fs24\cf0\f0\charscalex100 {sly want these stores to
be}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {located in
places that are easily seen and easil}\fs24\cf0\f0\charscalex100 {y accessible to
motorists. It must fulfill the}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {\uc1\u8220Xquickly in and out\uc1\u8221X mentality. But
when all is}\fs24\cf0\f0\charscalex100 { said and done, the way in which they
access}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {their
customers isn\uc1\u8217Xt a very unique approach e}\fs24\cf0\f0\charscalex100
{ither. Again, literally every decision they make}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {about accessing their customers is based on
}\fs24\cf0\f0\charscalex100 {their main focus surrounding the types
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {services they
offer.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {So, put in the form of a Venn diagram,
Jiffy Lu}\fs24\cf0\f0\charscalex100 {be\uc1\u8217Xs circles of
business }\fs24\cf0\f0\charscalex100 {strategy look like
this:}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\
cols3\colno1\colw4186\colsr-0\colno2\colw2693\colsr-
\fs28\cf0\f0\charscalex100\b {MAIN FOCUS}\b0 \fs28\cf0\f0\charscalex100\b { }\b0
\fs24\cf0\f0\charscalex100\b {Products}\b0 \par\pard\li2240\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100\b {And}\b0 \par\pard\li1973\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\b {Services}\b0 \par\pard\li2106\ri0\sl-213\slmult0
{Quick Car }\par\pard\li1960\ri0\sl-226\slmult0 \fs20\cf0\f0\charscalex100 {Care
Services}\par\column\pard\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-
213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100\b
{Secondary Focus}\b0 \par\pard\li373\ri0\sl-213\slmult0
{Needs}\b0 \par\pard\li413\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li413\ri0\sl-
\fs18\cf0\par\pard\li413\ri0\sl-226\slmult0 \fs20\cf0\f0\charscalex100 {Anyone
Who}\par\pard\li560\ri0\sl-226\slmult0 \fs20\cf0\f0\charscalex100 {Has a
Car}\par\column\pard\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-
{Customers}\b0 \par\pard\li240\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li240\ri0\sl-
{Strategically Located}\par\pard\li573\ri0\sl-226\slmult0
\fs20\cf0\f0\charscalex100 {Retail
Stores}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133
\fs18\cf0\par\pard\li1133\ri0\sl-306\slmult0 \fs24\cf0\f0\charscalex100 {Notice
that Jiffy Lube isn\uc1\u8217Xt tr}\fs24\cf0\f0\charscalex100 {ying to be all
things to all }\fs24\cf0\f0\charscalex100 {people. Rather, they focus on
a}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {specific subset
within each of th}\fs24\cf0\f0\charscalex100 {ese three circles. If you want a
ne}\fs24\cf0\f0\charscalex100 {w set of tires or to fill
your}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {gas tank, also
things that cars need on a fairly }\fs24\cf0\f0\charscalex100 {regular basis,
you\uc1\u8217Xve got }\fs24\cf0\f0\charscalex100 {to go elsewhere.
Jiffy}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Lube is fine
with this because }\fs24\cf0\f0\charscalex100 {those services fall outside of
th}\fs24\cf0\f0\charscalex100 {eir main strategic focus.
Their}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {customers
certainly need these other services }\fs24\cf0\f0\charscalex100 {and Jiffy Lube
could certainly provide these}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {other services, if they chose to do so.
However,}\fs24\cf0\f0\charscalex100 { offering them would disrupt their ability
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100 {successfully
maintain their stra}\fs22\cf0\f0\charscalex100 {tegy. This specialization
allows }\fs22\cf0\f0\charscalex100 {them to streamline
everything}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {they do
and thereby gain a competitive advant}\fs24\cf0\f0\charscalex100 {age over other
types of car care businesses.}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {They actually \uc1\u8220Xsteal\uc1\u8221X business from
their comp}\fs24\cf0\f0\charscalex100 {etitors by not offering as many services
as}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {their
competitors offer. This may sound st}\fs24\cf0\f0\charscalex100 {range at first,
but it is nonetheless true.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {Jiffy Lube
understands that by choosing this }\fs24\cf0\f0\charscalex100 {strategy there will
be tradeoffs involved. There}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {will be desirable products that they won\uc1\u8217Xt
se}\fs24\cf0\f0\charscalex100 {ll, even if their customers request
them.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {However,
they\uc1\u8217Xre willing to accept these tradeoffs and let those customers go
elsewhere.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {They
understand that it\uc1\u8217Xs largely the things they}\fs24\cf0\f0\charscalex100
{\uc1\u8217Xve chosen NOT to do that have made them a}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100
{success.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn
\fs20\cf1\f0\charscalex100\i {Page 8 }\i0 \par\column\pard\li0\ri0\sl-
\fs18\cf0\par\pard\li0\ri0\sl-280\slmult0 \fs20\cf1\f0\charscalex100\i {The Basics
of Business}\i0
ect\sectd\sbkpage
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{\*\shpinst
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413\slmult0 \fs24\cf0\f0\charscalex100\b \ul {Wal-Mart Strategy}\b0 \ul0
\fs24\cf0\f0\charscalex100\b \ul { }\b0 \ul0 \par\pard\li1133\ri0\sl-333\slmult0
\fs24\cf0\f0\charscalex100 {Now let\uc1\u8217Xs compare Jiffy Lube\uc1\u8217Xs
strategy with }\fs24\cf0\f0\charscalex100 {that of Wal-Mart. On which circle does
Wal-}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Mart base its
entire strategy and on which subs}\fs24\cf0\f0\charscalex100 {ets within each
circle does Wal-Mart focus as}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {a result of that strategy? }\fs24\cf0\f0\charscalex100
{We can get a hint from thei}\fs24\cf0\f0\charscalex100 {r slogan,
\uc1\u8220XAlways Low Prices.}{ }\fs24\cf0\f0\charscalex100\i {Always}\i0
\fs24\cf0\f0\charscalex100 {.\uc1\u8221X}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {Wal-Mart\uc1\u8217Xs main strategy is to focus on a
speci}\fs24\cf0\f0\charscalex100 {fic type of customer }\fs24\cf0\f0\charscalex100
{and the needs of that}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {customer, namely, the budget customer who
doesn\uc1\u8217Xt}\fs24\cf0\f0\charscalex100 { want to spend a lot for the things
they}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {buy. Hence,
the middle circle is the focus of th}\fs24\cf0\f0\charscalex100 {eir strategy. This
main focus permeates every}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {decision they make regardi}\fs24\cf0\f0\charscalex100
{ng the other two circles.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {What types
of products (first circle) can }\fs24\cf0\f0\charscalex100 {you buy at Wal-Mart?
The answer is, \uc1\u8220XAlmost}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {anything as long as it doesn\uc1\u8217Xt
co}\fs24\cf0\f0\charscalex100 {st a lot.\uc1\u8221X You\uc1\u8217Xll never see
e}\fs24\cf0\f0\charscalex100 {xpensive products in a Wal-
Mart}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {store. This is
because whenever they decide }\fs24\cf0\f0\charscalex100 {to offer a new product to
their customers, the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{main criteria it has to meet is affordability. It}\fs24\cf0\f0\charscalex100
{ must focus on their main strategy of meeting}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {the budgetary needs of their target
customers.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Given this strategy how does Wal-Mart
access }\fs24\cf0\f0\charscalex100 {its customers? While their Web presence
is}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {increasing,
their main focus has been strategica}\fs24\cf0\f0\charscalex100 {lly located retail
stores. You\uc1\u8217Xll probably never}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {see a Wal-Mart store located in an
expensiv}\fs24\cf0\f0\charscalex100 {e neighborhood. That\uc1\u8217Xs simply not
their target}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{customer and they know it. Literally ever}\fs24\cf0\f0\charscalex100 {y decision
they make about accessing their}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {customers is based on the main focus of
targ}\fs24\cf0\f0\charscalex100 {eting the budget customer. I know this in
part}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {because I live
in Utah. Utah residents are well}\fs24\cf0\f0\charscalex100 { known for their
conservative spending habits.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {From my home I can drive to four different
Wa}\fs24\cf0\f0\charscalex100 {l-Mart stores within 30 minutes. I\uc1\u8217Xm told
that}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {these four
stores are among the highest reve}\fs24\cf0\f0\charscalex100 {nue-generating Wal-
Mart stores in the world.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {So, Wal-
Mart\uc1\u8217Xs circles of bus}\fs24\cf0\f0\charscalex100 {iness strategy look
like
\fs24\cf0\f0\charscalex100\b {Secondary Focus}\b0 \par\pard\li1946\ri0\sl-
{Lots of Low-}\par\pard\li1960\ri0\sl-240\slmult0 \fs20\cf0\f0\charscalex100 {Cost
Products}\par\column\pard\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-
{MAIN FOCUS}\b0 \fs28\cf0\f0\charscalex100\b { }\b0 \par\pard\li266\ri0\sl-
\fs24\cf0\f0\charscalex100\b {Customers}\b0 \par\pard\li333\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\b {And Their}\b0 \par\pard\li533\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\b {Needs}\b0 \par\pard\li373\ri0\sl-213\slmult0
{The Budget}\par\pard\li453\ri0\sl-240\slmult0 \fs20\cf0\f0\charscalex100
{Customer}\par\column\pard\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-
{Customers}\b0 \par\pard\li240\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li240\ri0\sl-
{Strategically Located}\par\pard\li573\ri0\sl-240\slmult0
\fs20\cf0\f0\charscalex100 {Retail
Stores}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133
373\slmult0 \fs24\cf0\f0\charscalex100 {We\uc1\u8217Xve learned at least three
vital }\fs24\cf0\f0\charscalex100 {lessens about Wal-Mart\uc1\u8217Xs
strategy:}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
333\slmult0 \*\tx1853\fs24\cf0\f0\charscalex100 {1.}\tab \fs24\cf0\f0\charscalex100
{They avoid trying to be all things to all }\fs24\cf0\f0\charscalex100 {people by
focusing on a sp}\fs24\cf0\f0\charscalex100 {ecific subset
within}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {each of the
three
circles. }\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn
\fs18\cf0\par\pard\li1133\ri0\sl-360\slmult0 \fs20\cf0\f0\charscalex100\i {Creating
a Successful Strategy}\i0 \par\column\pard\li0\ri0\sl-213\slmult0
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
{Their main strategic focus is their target customer.}\par\pard\li1493\ri0\sl-
\*\tx1853\fs24\cf0\f0\charscalex100 {3.}\tab \fs24\cf0\f0\charscalex100 {Literally
every decision Wal-}\fs24\cf0\f0\charscalex100 {Mart makes regarding the products
they offer or the}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{manner in which they offer them is determin}\fs24\cf0\f0\charscalex100 {ed by
their main strategic focus of their}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {customers\uc1\u8217X needs.}\par\pard\li1133\ri0\sl-
{Just like Jiffy Lube, Wal-Mart knows that by }\fs24\cf0\f0\charscalex100 {choosing
this strategy there will be tradeoffs}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {involved. There will be
desirable }\fs24\cf0\f0\charscalex100 {products that they won\uc1\u8217Xt
sell}\fs24\cf0\f0\charscalex100 {, customers that won\uc1\u8217Xt shop
at}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Wal-Mart, and
geographic markets in which they will never be able to put a store.
However,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{they\uc1\u8217Xre willing to accept these tradeoffs and
let }\fs24\cf0\f0\charscalex100 {those customers go elsewhere. As with
Jiffy}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Lube, they
understand that thei}\fs24\cf0\f0\charscalex100 {r chosen strategy is determined as
much by what they\uc1\u8217Xve}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {chosen not to do as it is
by }\fs24\cf0\f0\charscalex100 {what they\uc1\u8217Xve chosen to
do.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\b {Amazon.com Strategy}\b0 \fs24\cf0\f0\charscalex100\b
{ }\b0 \par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100
{Let\uc1\u8217Xs look at one more, very different st}\fs24\cf0\f0\charscalex100
{rategy from another successful business \uc1\u8211X}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {Amazon.com. On which circle does Amazon.com
base its entire strategy? On which subsets}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {within each circle does Amazon.com
fo}\fs24\cf0\f0\charscalex100 {cus as a result of that
strategy?}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Unlike Wal-Mart, Amazon.com was one of
the }\fs24\cf0\f0\charscalex100 {first companies to truly capitalize on
the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Internet as a
way to access customers. This has always been their main strategic focus
and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {still is today.
As a result, literally every deci}\fs24\cf0\f0\charscalex100 {sion they make
regarding the products they offer}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {and the customers they target is based on the way in
which they access their customers.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Think
about the types (subsets) of products }\fs24\cf0\f0\charscalex100 {sold by
Amazon.com. The tabs along the top of}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {their website tell us everything. They
are:}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Books}\par\pard\li1493\ri0\sl-280\slmult0
{Apparel and Accessories }\par\pard\li1493\ri0\sl-280\slmult0
{Electronics}\par\pard\li1493\ri0\sl-266\slmult0
{DVD}\par\pard\li1493\ri0\sl-280\slmult0 \*\tx1853\fs24\cf0\f1\charscalex100
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {Magazine
Subscriptions}\par\pard\li1493\ri0\sl-280\slmult0
{Toys and Games}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {What do
these types of products have in comm}\fs24\cf0\f0\charscalex100 {on? With the
possible exception of the toys}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {and games category, these products are all
relati}\fs24\cf0\f0\charscalex100 {vely easy to ship. Getting your products
into}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {the hands of
your customers in a cost effective,}\fs24\cf0\f0\charscalex100 { low effort, and
quick manner is an absolute}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {must for every business. So, if you only sell
thin}\fs24\cf0\f0\charscalex100 {gs via the Internet, it only makes sense
that}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{you\uc1\u8217Xll specialize in products th}\fs24\cf0\f0\charscalex100 {at are easy
to ship. Products }\fs24\cf0\f0\charscalex100 {like books, CDs, DVDs,
clothing,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {and
electronics fall squarely into that focus. }\fs24\cf0\f0\charscalex100 {It
wasn\uc1\u8217Xt until later that Amazon began selling}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {the larger items. But even today, they
are }\fs24\cf0\f0\charscalex100 {known mostly for their }\fs24\cf0\f0\charscalex100
{smaller, easy-to-ship}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {products that lend themselves
to }\fs24\cf0\f0\charscalex100 {accessing customers via the
Internet.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {What kind of customers does Amazon.com
targ}\fs24\cf0\f0\charscalex100 {et? They target anyone with access to
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Internet. They
don\uc1\u8217Xt care what your income }\fs24\cf0\f0\charscalex100 {is, where you
live, how old you are, whether}\par\pard\li1133\ri0\sl-280\slmult0
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doesn}\fs24\cf0\f0\charscalex100 {\uc1\u8217Xt matter as long as you can buy things
on
the}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\co
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413\slmult0 \fs24\cf0\f0\charscalex100 {Internet. Literally every
deci}\fs24\cf0\f0\charscalex100 {sion Amazon.com makes in the
ar}\fs24\cf0\f0\charscalex100 {eas of products or target}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {customers is determined solely by their
de}\fs24\cf0\f0\charscalex100 {cision to access customers via the
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346\slmult0 \fs24\cf0\f0\charscalex100 {Hence, Amazon.com\uc1\u8217Xs strategy
looks something like
\fs24\cf0\f0\charscalex100\b {Secondary Focus}\b0 \par\pard\li1946\ri0\sl-
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{Needs}\b0 \par\pard\li520\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li520\ri0\sl-
\fs18\cf0\par\pard\li520\ri0\sl-253\slmult0 \fs20\cf0\f0\charscalex100 {The
Online}\par\pard\li360\ri0\sl-240\slmult0 \fs20\cf0\f0\charscalex100 {Media
Shopper}\par\column\pard\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-
{MAIN FOCUS}\b0 \fs28\cf0\f0\charscalex100\b { }\b0 \par\pard\li400\ri0\sl-
\fs24\cf0\f0\charscalex100\b {Ways To}\b0 \par\pard\li480\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\b {Access}\b0 \par\pard\li266\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\b {Customers}\b0 \par\pard\li480\ri0\sl-213\slmult0
{The
Internet}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn1
33\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-293\slmult0 \fs24\cf0\f0\charscalex100 {Just as
with Jiffy Lube and Wal-Mart, Amazon.c}\fs24\cf0\f0\charscalex100 {om understands
that this}\fs24\cf0\f0\charscalex100 { strategy cannot be}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {all things to all people. There are still a
lo}\fs24\cf0\f0\charscalex100 {t of potential customers that either don\uc1\u8217Xt
have}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {access to the
Internet or are not comfortable buyi}\fs24\cf0\f0\charscalex100 {ng things on the
Internet. In addition, there}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {are a lot of products that
don\uc1\u8217Xt }\fs24\cf0\f0\charscalex100 {lend themselves to being
easily}\fs24\cf0\f0\charscalex100 { sold and delivered via
the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Internet.
Amazon.com knows this and is willing }\fs24\cf0\f0\charscalex100 {to let those
customers }\fs24\cf0\f0\charscalex100 {go elsewhere in
order}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {to focus on
their main strategy of accessing cust}\fs24\cf0\f0\charscalex100 {omers via the
Internet. They certainly have}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {enough money these days to open multiple
retail }\fs24\cf0\f0\charscalex100 {stores in various places around the
world.}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Perhaps
they\uc1\u8217Xll even do this some day. But it }\fs24\cf0\f0\charscalex100 {would
have to be viewed as a completely}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {different and separate business
th}\fs24\cf0\f0\charscalex100 {an their current Internet
busin}\fs24\cf0\f0\charscalex100 {ess. It would require a
whole}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {new set of
rules to follow and an entirely }\fs24\cf0\f0\charscalex100 {different way of
thinki}\fs24\cf0\f0\charscalex100 {ng. For all intents and}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {purposes it would be a distinct business,
havi}\fs24\cf0\f0\charscalex100 {ng only the name of the company and some
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the products in
common with thei}\fs24\cf0\f0\charscalex100 {r traditional
on}\fs24\cf0\f0\charscalex100 {line business.}\par\pard\li1133\ri0\sl-
\fs18\cf0\par\pard\li1133\ri0\sl-360\slmult0 \fs24\cf0\f0\charscalex100\b \i
{What\uc1\u8217Xs Your Strategy?}\b0 \i0 \par\pard\li1133\ri0\sl-346\slmult0
\fs24\cf0\f0\charscalex100 {Now that you understand the three circles of
stra}\fs24\cf0\f0\charscalex100 {tegic positioning you should be able to
begin}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {creating your
own long-term strategy. You should }\fs24\cf0\f0\charscalex100 {be able to
determine which of the three}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {circles of business
strategy }\fs24\cf0\f0\charscalex100 {provides the biggest
competitiv}\fs24\cf0\f0\charscalex100 {e advantage for your
company.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {What
you\uc1\u8217Xre looking for is an area of focus with}\fs24\cf0\f0\charscalex100
{in one of the three ci}\fs24\cf0\f0\charscalex100 {rcles that
provides}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {meaningful
differentiation from your compe}\fs24\cf0\f0\charscalex100 {titors. What makes you
unique enough to attract}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {specific types of customers and to meet
their }\fs24\cf0\f0\charscalex100 {needs better than any of your competitors?
In}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {other words, on
which one of the three circle}\fs24\cf0\f0\charscalex100 {s of business can you
focus most effectively? }\par\pard\li1133\ri0\sl-213\slmult0
{Unfortunately, I can\uc1\u8217Xt tell you what your focus
s}\fs24\cf0\f0\charscalex100 {hould be in this book. In order to do that
we}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {would probably
have to sit dow}\fs24\cf0\f0\charscalex100 {n together and discuss it. However, you
should have some }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{faith in your management team. Have them }\fs24\cf0\f0\charscalex100 {sit down
with you in a conference room, work}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {through the exercises in this
book }\fs24\cf0\f0\charscalex100 {as a team, and discuss the
part}\fs24\cf0\f0\charscalex100 {iculars of your business.
All}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\co
\fs18\cf0\par\pard\li0\ri0\sl-320\slmult0 \fs20\cf0\f0\charscalex100\i {Page 11}\i0
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {businesses
are different. It is }\fs24\cf0\f0\charscalex100 {likely that you\uc1\u8217Xre
already set up to create a very good, long-term }\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {strategy. You just need to identify,
define, and refine it.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {Here are a
few helpful questions to }\fs24\cf0\f0\charscalex100 {get you going in the right
direction:}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
333\slmult0
\*\tx1853\fs24\cf0\f0\charscalex100 {1.}\tab \fs24\cf0\f0\charscalex100\i
{Products and Services:}\i0 \par\pard\li2213\ri0\sl-280\slmult0
\*\tx2573\fs24\cf0\f0\charscalex100 {a.}\tab \fs24\cf0\f0\charscalex100 {Is there
anything about your product or se}\fs24\cf0\f0\charscalex100 {rvice that would
be}\fs24\cf0\f0\charscalex100 { difficult or take}\par\pard\li2573\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {a very long time (years)
for }\fs24\cf0\f0\charscalex100 {your competition to
reproduce? }\par\pard\li2213\ri0\sl-280\slmult0 \*\tx2573\fs24\cf0\f0\charscalex100
{b.}\tab \fs24\cf0\f0\charscalex100 {Is there anything you can add to
your }\fs24\cf0\f0\charscalex100 {product or service that would
be}\par\pard\li2573\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {difficult for
your competition to reproduce?}\par\pard\li2213\ri0\sl-280\slmult0
\*\tx2573\fs24\cf0\f0\charscalex100 {c.}\tab \fs24\cf0\f0\charscalex100 {Is there
anything about your products th}\fs24\cf0\f0\charscalex100 {at specialize on a
specific subset of}\par\pard\li2573\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{customers better than your competition?}\par\pard\li2213\ri0\sl-280\slmult0
\*\tx2573\fs24\cf0\f0\charscalex100 {d.}\tab \fs24\cf0\f0\charscalex100 {Is there
anything about your products th}\fs24\cf0\f0\charscalex100 {at would allow them to
be accessed in}\par\pard\li2573\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {a
unique manner that would be difficu}\fs24\cf0\f0\charscalex100 {lt for your
competition to replicate?}\par\pard\li1493\ri0\sl-213\slmult0
{2.}\tab \fs24\cf0\f0\charscalex100\i {Customer Needs:}\i0 \par\pard\li2213\ri0\sl-
280\slmult0 \*\tx2573\fs24\cf0\f0\charscalex100 {a.}\tab \fs24\cf0\f0\charscalex100
{Can you define a subset of customers th}\fs24\cf0\f0\charscalex100 {at
particularly like what you offer,}\par\pard\li2573\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {more so than other types of potential
customers?}\par\pard\li2213\ri0\sl-280\slmult0 \*\tx2573\fs24\cf0\f0\charscalex100
{b.}\tab \fs24\cf0\f0\charscalex100 {Look at your current customer set.
Wh}\fs24\cf0\f0\charscalex100 {ich ones are the easie}\fs24\cf0\f0\charscalex100
{st to keep happy}\par\pard\li2573\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{and which ones are always complaining? What trends do you notice? Look
for}\par\pard\li2573\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {subsets such as
specific vertical market}\fs24\cf0\f0\charscalex100 {s, horizontal markets, size of
business}\par\pard\li2573\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {(if
you\uc1\u8217Xre a B to B business), type of bus}\fs24\cf0\f0\charscalex100 {iness
(B to B), spending habits, etc.}\par\pard\li2573\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {Look for anything that
differentiates }\fs24\cf0\f0\charscalex100 {your customers from your
competitors\uc1\u8217X}\par\pard\li2573\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {customers in some way or
other.}\par\pard\li2213\ri0\sl-266\slmult0 \*\tx2573\fs24\cf0\f0\charscalex100
{c.}\tab \fs24\cf0\f0\charscalex100 {Is the set of customers you want to
ta}\fs24\cf0\f0\charscalex100 {rget large enough to }\fs24\cf0\f0\charscalex100
{warrant a strategic}\par\pard\li2573\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{focus? If you could capture 10% to 30%}\fs24\cf0\f0\charscalex100 { of that
customer base, would your}\par\pard\li2573\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {business have grown to an acceptable size to meet your
goals?}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
333\slmult0 \*\tx1853\fs24\cf0\f0\charscalex100 {3.}\tab
\fs24\cf0\f0\charscalex100\i {Accessing Customers:}\i0 \par\pard\li2213\ri0\sl-
{Do you have a way to access a certain se}\fs24\cf0\f0\charscalex100 {t of
customers that is difficult to}\par\pard\li2573\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {replicate by your competition? This can be anything
from the physical}\par\pard\li2573\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{location of your business, to having }\fs24\cf0\f0\charscalex100 {synergistic
partners\uc1\u8217X introduce you to}\par\pard\li2573\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {their customers, to advertising in specific locations.
There are a lot of options.}\par\pard\li2213\ri0\sl-280\slmult0
\*\tx2573\fs24\cf0\f0\charscalex100 {b.}\tab \fs24\cf0\f0\charscalex100 {Think
about how you access most of your customers now. What\uc1\u8217Xs working
the}\par\pard\li2573\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{best/worst? }\par\pard\li2213\ri0\sl-280\slmult0
\*\tx2573\fs24\cf0\f0\charscalex100 {c.}\tab \fs24\cf0\f0\charscalex100 {How does
your competition access their }\fs24\cf0\f0\charscalex100 {customers? Can you
replicate their}\par\pard\li2573\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{efforts? Which competitors are the mo}\fs24\cf0\f0\charscalex100 {st difficult for
you to replicate and}\par\pard\li2573\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{why? }\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Here\uc1\u8217Xs an example of how this
works. As }\fs24\cf0\f0\charscalex100 {a newly appointed President and CEO of
an}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Internet
marketing firm, I needed to create}\fs24\cf0\f0\charscalex100 { a long-term
strategy for what was then a}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {struggling company. As a
result}\fs24\cf0\f0\charscalex100 { I immediately began asking
th}\fs24\cf0\f0\charscalex100 {e types of questions
outlined}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {above.
Here were my conclusions:}\par\pard\li1493\ri0\sl-213\slmult0
{1.}\tab \fs24\cf0\f0\charscalex100\i {Products and Services:}\i0
\fs24\cf0\f0\charscalex100 { The company had some very c}\fs24\cf0\f0\charscalex100
{ool technology and a repeatable}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {process that made its services much
more}\fs24\cf0\f0\charscalex100 { valuable than most of its
competition.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margr
sxn133\cols2\colno1\colw7693\colsr-0\colno2\colw3746\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1853\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {However, I
felt this was a temporary adva}\fs24\cf0\f0\charscalex100 {ntage that would
be}\fs24\cf0\f0\charscalex100 { exploited by our}\par\pard\li1853\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {competition as soon as they figured it out.
I couldn\uc1\u8217Xt think of any way to keep them }\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {from figuring it out, thereby
replicating }\fs24\cf0\f0\charscalex100 {both our technology
and }\fs24\cf0\f0\charscalex100 {some form of our}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {process. In addition, the services
themse}\fs24\cf0\f0\charscalex100 {lves were becoming fairly common.
Search}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {engine
optimization, pay-per-click-manageme}\fs24\cf0\f0\charscalex100 {nt, affiliate
program management, etc.}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {were great services within }\fs24\cf0\f0\charscalex100
{a rapidly growing industry. But other companies offer the}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {same types of services without a lot of
va}\fs24\cf0\f0\charscalex100 {riation. My conclusion was that the
products}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {and
services circle simply wasn\uc1\u8217Xt unique }\fs24\cf0\f0\charscalex100 {enough
to use as the focus of our strategy.}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {While obviously important to the success
of }\fs24\cf0\f0\charscalex100 {the company, our early advantages in
this}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {area were not
sustainable.}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100\i {Customer Needs:}\i0 \fs24\cf0\f0\charscalex100 { This
was easy. Due to the nature }\fs24\cf0\f0\charscalex100 {of Internet marketing,
especially}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {search
engine marketing, the only real limita}\fs24\cf0\f0\charscalex100 {tions placed on
our target customer were}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {that they had to be able to}\fs24\cf0\f0\charscalex100
{ deliver their product}\fs24\cf0\f0\charscalex100 {s to either a nationwide or
worldwide}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{marketplace and they had to be able to }\fs24\cf0\f0\charscalex100 {afford us. The
simple reasoning was that}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {people search the Internet for almost
anythi}\fs24\cf0\f0\charscalex100
{ng these days and they do it from all over}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {the world. If you can\uc1\u8217Xt deliver your
products}\fs24\cf0\f0\charscalex100 { to those people then there\uc1\u8217Xs no
real}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {benefit to
them finding your we}\fs24\cf0\f0\charscalex100 {bsite via search engines.
(E}\fs24\cf0\f0\charscalex100 {ven that is going away as}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {local search becomes a reality). In the
ear}\fs24\cf0\f0\charscalex100 {ly days these two limitations
eliminated}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {many
small businesses right away. However,}\fs24\cf0\f0\charscalex100 { we even solved
these limitations over}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {time. In the end, almost any business
wa}\fs24\cf0\f0\charscalex100 {s a potential customer. No unique
strategy}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{here.}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100\i {Access to Customers}\i0 \fs24\cf0\f0\charscalex100 {:
At the time, most of our leads came from somewhat
traditional}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {sources
like ads, networking, taking our own }\fs24\cf0\f0\charscalex100 {Internet
marketing medicine, etc. Word}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {of mouth was also important to the
compa}\fs24\cf0\f0\charscalex100 {ny over the years but is not exactly a
great}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {foundation
for a solid strategy. I soon discove}\fs24\cf0\f0\charscalex100 {red two
interesting aspects about selling}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {Internet marketing services. The first
wa}\fs24\cf0\f0\charscalex100 {s that most people didn\uc1\u8217Xt understand it
very}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {well.
Literally every company wants more tra}\fs24\cf0\f0\charscalex100 {ffic to their
website, but most are fairly }\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {clueless when it comes to actually
knowing }\fs24\cf0\f0\charscalex100 {how to do something about it. The
second}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {observation
was that most companies were}\fs24\cf0\f0\charscalex100 { still spending
larg}\fs24\cf0\f0\charscalex100 {e portions of their}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {marketing budgets on more traditional
mark}\fs24\cf0\f0\charscalex100 {eting and advertising firms, most
of}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {which offered
limited or no Internet marketi}\fs24\cf0\f0\charscalex100 {ng services. The light
bulbs began to turn}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{on. If I could effectively access the clients of}\fs24\cf0\f0\charscalex100
{ these marketing and advertising firms in}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {a way that was advantageous to those firms, I could
win.}\par\pard\li1853\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1853\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {From this line of thinking emerged a
great}\fs24\cf0\f0\charscalex100 {, long-term partnering strategy to help
us}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {access new
customers. I found that the clie}\fs24\cf0\f0\charscalex100 {nts of most
advertising firms were}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {consistently asking for more help with
th}\fs24\cf0\f0\charscalex100 {eir Internet presence \uc1\u8211X something
these}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {traditional
marketing firms simply didn\uc1\u8217Xt know}\fs24\cf0\f0\charscalex100 { how to
provide. It was hurting their}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {business. By partnering with
advertising }\fs24\cf0\f0\charscalex100 {firms we quickly created a win-win-
win}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {situation for
our partners, their clients, }\fs24\cf0\f0\charscalex100 {and ourselves. The
advertising firms could}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {now provide high-quality
Inte}\fs24\cf0\f0\charscalex100 {rnet marketing
solutions }\fs24\cf0\f0\charscalex100 {to their clients
(thereby}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {attracting
new business, generating more }\fs24\cf0\f0\charscalex100 {revenue, and solidifying
their existing}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{relationships). The clients of these firm}\fs24\cf0\f0\charscalex100 {s could now
get the Internet marketing}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {services they wanted from
somebody }\fs24\cf0\f0\charscalex100 {they already knew and trusted. And
our}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\co
\fs18\cf0\par\pard\li1853\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {company
would receive a steady stream of wa}\fs24\cf0\f0\charscalex100 {rm (if not hot)
leads }\fs24\cf0\f0\charscalex100 {on a regular basis.}\par\pard\li1853\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {This was unique and, once a solid
partners}\fs24\cf0\f0\charscalex100 {hip was formed, it was almost
impossible}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {for our
competition to either steal our }\fs24\cf0\f0\charscalex100 {partners away from us
or access those}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{customers as effectively as we could. As }\fs24\cf0\f0\charscalex100 {long as we
made our partners successful by}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {effectively complimenting their services
w}\fs24\cf0\f0\charscalex100 {ith ours, they would have no reason
to}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {partner with
anyone else but us. Ever}\fs24\cf0\f0\charscalex100 {ybody was happy and it gave us
a long-term }\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{strategic focus around which to base all }\fs24\cf0\f0\charscalex100 {other
business decisions. Our marketing}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {efforts immediately shifted from
marketi}\fs24\cf0\f0\charscalex100 {ng to potential clients to marketing
to}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {potential
partners.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {By trying to answer
questions }\fs24\cf0\f0\charscalex100 {like these about your own
busin}\fs24\cf0\f0\charscalex100 {ess you\uc1\u8217Xll begin to
identify}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {things
that already are or can easily become }\fs24\cf0\f0\charscalex100 {unique. First,
start by tr}\fs24\cf0\f0\charscalex100 {ying to identify
those}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {things that
are not unique about your business.}\fs24\cf0\f0\charscalex100 { This can be a
painful process as you discover}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {that some of the things you\uc1\u8217Xre most proud
of}\fs24\cf0\f0\charscalex100 { about your business rea}\fs24\cf0\f0\charscalex100
{lly aren\uc1\u8217Xt all that}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {different from what your competition does
or}\fs24\cf0\f0\charscalex100 { easily could do. Remember, just
because}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {something
isn\uc1\u8217Xt particularly unique to your busin}\fs24\cf0\f0\charscalex100 {ess
doesn\uc1\u8217Xt mean that it isn\uc1\u8217Xt important
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100 {your business.
There\uc1\u8217Xs nothing especially unique about selling books. A lot of companies
do}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {that. But
selling books is vital to Amazon.com\uc1\u8217Xs}\fs24\cf0\f0\charscalex100
{ success as an online business. They simply}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {focus all of their efforts on selling them
in }\fs24\cf0\f0\charscalex100 {a different way than their competition. As
you}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {work your way
through this process, you\uc1\u8217Xll be ab}\fs24\cf0\f0\charscalex100 {le to say
the same thing about many aspects}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {of your business as well. The goal isn\uc1\u8217Xt
necessari}\fs24\cf0\f0\charscalex100 {ly to scrap anything about your business
that}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {is not unique.
Rather, the goal }\fs24\cf0\f0\charscalex100 {is to identify or create a
uniq}\fs24\cf0\f0\charscalex100 {ue area of focus
within your}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{business and then align all other areas of your}\fs24\cf0\f0\charscalex100
{ business with that unique area of focus.}\par\pard\li1133\ri0\sl-213\slmult0
following exercise will help you choose a }\fs24\cf0\f0\charscalex100 {solid, long-
term strategy for your business by}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {identifying which circle of
strate}\fs24\cf0\f0\charscalex100 {gy should become your main
focus.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\i {EXERCISE: Choosing a Strategy for Your
Business}\i0 \par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Clear
your management team\uc1\u8217Xs schedules for an}\fs24\cf0\f0\charscalex100
{ entire afternoon. That may be difficult to do,}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {but it\uc1\u8217Xs a lot easier than trying
}\fs24\cf0\f0\charscalex100 {to survive in busine}\fs24\cf0\f0\charscalex100 {ss
without a solid stra}\fs24\cf0\f0\charscalex100 {tegy. You may
want}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {to meet away
from the office so there will be}\fs24\cf0\f0\charscalex100 { no interruptions or
distractions. Explain the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {basic principles behind the
three }\fs24\cf0\f0\charscalex100 {circles of business life from
this}\fs24\cf0\f0\charscalex100 { chapter or have them
read}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the chapter
before the meeting. Di}\fs24\cf0\f0\charscalex100 {scuss these circles with
them }\fs24\cf0\f0\charscalex100 {until you\uc1\u8217Xre satisfied that
they}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {understand the
relationship between the following issues:}\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {Every business needs a working
solution for }\fs24\cf0\f0\charscalex100 {all three circles of business
(products,}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {customer
needs, and access to customers) in order to be successful.}\par\pard\li1493\ri0\sl-
{Focusing on subsets of these three ci}\fs24\cf0\f0\charscalex100 {rcles creates
long-term strategies.}\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {No business can be all things to all
peopl}\fs24\cf0\f0\charscalex100 {e. You must allow your competition to
meet}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the needs of
some types of }\fs24\cf0\f0\charscalex100 {customers better than you
\fs24\cf0\f0\charscalex100 {Good strategic positions usually deal as much with what
you are NOT going to do as}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {they do with what you ARE going to
do.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\co
ect\sectd\sbkpage
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2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
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2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
\fs24\cf0\f0\charscalex100 {A good strategy usually focuses on one of
the }\fs24\cf0\f0\charscalex100 {circles of strategy and uses the
other}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {two circles
to support that main focus.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {Once
you\uc1\u8217Xre comfortable with everyone\uc1\u8217Xs
leve}\fs24\cf0\f0\charscalex100 {l of understanding,
have}\fs24\cf0\f0\charscalex100 { each of them write}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {down the circle they think would be the
best}\fs24\cf0\f0\charscalex100 { strategy for your company. This should be
done}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {without help
or influence from the other team }\fs24\cf0\f0\charscalex100 {members. Their
answers need to reflect their}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {honest opinions. Then ask them to write down
at}\fs24\cf0\f0\charscalex100 { least three reasons }\fs24\cf0\f0\charscalex100
{why they think their}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {chosen circle of strategy would provide
the }\fs24\cf0\f0\charscalex100 {best focus for your company. They should
also}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {write down any
thoughts they have regarding }\fs24\cf0\f0\charscalex100 {why the other two circles
would not be good}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{strategies for your company. They may actually wa}\fs24\cf0\f0\charscalex100 {nt
to do this first and use the process of}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {elimination to select what they feel is the
be}\fs24\cf0\f0\charscalex100 {st circle of strategy for your company. They
may}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {also want to
review the questions }\fs24\cf0\f0\charscalex100 {found earlier in the section
entitled}{ }\fs24\cf0\f0\charscalex100\i {What\uc1\u8217Xs Your Strategy}\i0
\fs24\cf0\f0\charscalex100 {.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {Creating a table similar to the one below
may }\fs24\cf0\f0\charscalex100 {help each team member with this
exercise.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn
133\cols7\colno1\colw3346\colsr-0\colno2\colw320\colsr-0\colno3\colw1893\colsr-
0\colno4\colw373\colsr-0\colno5\colw1840\colsr-0\colno6\colw373\colsr-
453\slmult0 \fs28\cf0\f0\charscalex100\b {Pros}\b0 \par\pard\li1213\ri0\sl-
240\slmult0 \fs20\cf0\f0\charscalex100\i {(of choosing each as}\i0
\par\pard\li1280\ri0\sl-226\slmult0 \fs20\cf0\f0\charscalex100\i {your main
strategy)}\i0 \par\pard\li1786\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1786\ri0\sl-
506\slmult0 \fs28\cf0\f0\charscalex100\b {Cons}\b0 \par\pard\li1213\ri0\sl-
240\slmult0 \fs18\cf0\f0\charscalex100\i {(of choosing each as}\i0
\par\pard\li1280\ri0\sl-226\slmult0 \fs20\cf0\f0\charscalex100\i {your main
strategy)}\i0 \par\column\pard\li0\ri0\sl-213\slmult0
\fs24\cf0\f0\charscalex100 {1.}\par\pard\li0\ri0\sl-413\slmult0
\fs24\cf0\f0\charscalex100 {3.}\par\column\pard\li0\ri0\sl-213\slmult0
\fs24\cf0\f0\charscalex100\b {Products or}\b0 \par\pard\li186\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100\b {Services}\b0 \par\column\pard\li0\ri0\sl-
{1.}\par\pard\li0\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100
{3.}\par\column\pard\li133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li133\ri0\sl-
\fs24\cf0\f0\charscalex100\b {Types of}\b0 \par\pard\li0\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100\b {Customers}\b0 \par\column\pard\li0\ri0\sl-213\slmult0
413\slmult0 \fs24\cf0\f0\charscalex100\b {Access to}\b0 \par\pard\li0\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100\b {Customers}\b0
\fs24\cf0\f0\charscalex100 {Once finished, compare everyone\uc1\u8217Xs answers
a}\fs24\cf0\f0\charscalex100 {nd reasons for choosing them. You may
want}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {to write
things down on a white board so ev}\fs24\cf0\f0\charscalex100 {eryone can see the
discussion as it develops.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {Emphasize that at this point there are no
righ}\fs24\cf0\f0\charscalex100 {t or wrong answers. This is a
brainstorming}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{session.}{ }\fs24\cf0\f0\charscalex100\i {It is very important that you take good
notes }\i0 \fs24\cf0\f0\charscalex100\i {throughout this entire process for
future}\i0 \par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i
{reference.}\i0 { }\fs24\cf0\f0\charscalex100 {These notes will be used and
referred to extensively as you move forward and}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {begin to implement your new
346\slmult0 \fs24\cf0\f0\charscalex100 {After everyone has been allowed to share
his }\fs24\cf0\f0\charscalex100 {or her views, assess how much unity there
is}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {among your
executive team. It is unlikely that al}\fs24\cf0\f0\charscalex100 {l of them will
agree at first. However, the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {more they agree, the better, because this
s}\fs24\cf0\f0\charscalex100 {uggests a clear and
logical}\fs24\cf0\f0\charscalex100 { strategy that seems}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {fairly obvious to everyone in charge of
r}\fs24\cf0\f0\charscalex100 {unning the company. You shouldn\uc1\u8217Xt be
discouraged}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {if
there isn\uc1\u8217Xt an immediate consensus among your }\fs24\cf0\f0\charscalex100
{team members. However, if there is a great}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {deal of strongly opinionated disparity
am}\fs24\cf0\f0\charscalex100 {ong your team, then your company probably
needs}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {some
significant reworking and introspection if }\fs24\cf0\f0\charscalex100 {it is going
to survive for very long. It means}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {your executive team members have likely
been}\fs24\cf0\f0\charscalex100 { working in conflicting directions that
will}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {eventually
cost you dearly (if it hasn\uc1\u8217Xt already done so).}\par\pard\li1133\ri0\sl-
{The goal of the exercise is now to come }\fs24\cf0\f0\charscalex100 {to a
consensus among the team. Again, you may}\par\pard\li1133\ri0\sl-266\slmult0
\fs22\cf0\f0\charscalex100 {want to refer to the questions from the section
entitled}\fs22\cf0\f0\charscalex100\i { What\uc1\u8217Xs Your Strategy}\i0
\fs22\cf0\f0\charscalex100 {. These
questions}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn
\fs18\cf0\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-386\slmult0 \fs20\cf0\f0\charscalex100\i
{Creating a Successful Strategy}\i0 \par\column\pard\li0\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {will help
to identify the strengths and wea}\fs24\cf0\f0\charscalex100 {knesses of each
suggestion. Let each person defend}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {his or her point of view. Ma}\fs24\cf0\f0\charscalex100
{ke sure everyone has a chance }\fs24\cf0\f0\charscalex100 {to express his or her
honest}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {opinions.
This may create a bit of}\fs24\cf0\f0\charscalex100 { conflict, but as long as you
ma}\fs24\cf0\f0\charscalex100 {nage the level of emotion
in}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the room it will
be an extremely insightful di}\fs24\cf0\f0\charscalex100 {scussion. Here are some
additional points that}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {may help to move the discussion
along:}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Did anyone change his or her mind
after }\fs24\cf0\f0\charscalex100 {listening to the others? If so,
what}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {specifically
made you rethink your position? }\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {Is there one of the three circles
that ever}\fs24\cf0\f0\charscalex100 {yone agrees is NOT under consideration?
If}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {so, eliminate it
early in the discussion so}\fs24\cf0\f0\charscalex100 { you can focus on the other
two circles.}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Does your company already have a
successful}\fs24\cf0\f0\charscalex100 { track record in one or more of
{circles? }\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {How difficult will it be for your
competiti}\fs24\cf0\f0\charscalex100 {on to duplicate your efforts in any of
these}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {circles? The
more difficult, the better. }\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {If you choose any given
circle}\fs24\cf0\f0\charscalex100 {, how will that affect the decisions you make
regarding}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the other
two circles? What will change and what will remain the
same?}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Is there a large enough set of customers
that }\fs24\cf0\f0\charscalex100 {value your chosen
circle}\fs24\cf0\f0\charscalex100 { to the point that}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {they will ignore your competition and
buy }\fs24\cf0\f0\charscalex100 {from you instead, even if your
competition}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {is
better than you in one or bot}\fs24\cf0\f0\charscalex100 {h of the other two
categories?}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Which circle would your current
customers }\fs24\cf0\f0\charscalex100 {say is your strongest point? Which
circle}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {do they tend
to complain about the most}\fs24\cf0\f0\charscalex100 {? Which one appeals to them
the most? }\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Be careful how you view the answers to
ques}\fs24\cf0\f0\charscalex100 {tions involving your customers.
Customers}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{don\uc1\u8217Xt always accurately express what they
valu}\fs24\cf0\f0\charscalex100 {e the most. For example, Southwest
Airlines\uc1\u8217X}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{strategy is to focus on the budget customer. They}\fs24\cf0\f0\charscalex100
{ meet the needs of a particular kind of}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {traveler by providing lower
fare}\fs24\cf0\f0\charscalex100 {s to many destinations. The
tr}\fs24\cf0\f0\charscalex100 {adeoffs involved with this}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {strategy include things such as targeting
sma}\fs24\cf0\f0\charscalex100 {ller airports, no first class seating, no
baggage}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {claim, no
meals, an entire fleet of only 737 ai}\fs24\cf0\f0\charscalex100 {rcraft, etc.
Those are }\fs24\cf0\f0\charscalex100 {the types of
decisions}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{they\uc1\u8217Xve consciously made in the other two
circle}\fs24\cf0\f0\charscalex100 {s in order to focus on their core strategy
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {targeting the
budget customer. As a result, I\uc1\u8217Xm to}\fs24\cf0\f0\charscalex100 {ld that
Southwest receives a steady stream }\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {of complaints regarding these
ne}\fs24\cf0\f0\charscalex100 {gative tradeoffs. However, most of these complaints
occur as}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {repeat
customers are buying tickets or boardi}\fs24\cf0\f0\charscalex100 {ng a plane to
another }\fs24\cf0\f0\charscalex100 {destination.
Southwest}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {puts up
with these complaints because they\uc1\u8217Xve }\fs24\cf0\f0\charscalex100
{already proven that th}\fs24\cf0\f0\charscalex100 {eir target
customer}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {values low
fares more than they}\fs24\cf0\f0\charscalex100 { value any of these other
benef}\fs24\cf0\f0\charscalex100 {its. If they didn\uc1\u8217Xt, they
would}\par\pard\li1133\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {be paying
higher fares in order to fly on another }\fs22\cf0\f0\charscalex100 {airline
instead of Southw}\fs22\cf0\f0\charscalex100 {est. So, just
because}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {a customer
complains about something doesn\uc1\u8217Xt }\fs24\cf0\f0\charscalex100
{necessarily mean that }\fs24\cf0\f0\charscalex100 {it should change.
Make}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {sure you
understand what they truly value ra}\fs24\cf0\f0\charscalex100 {ther than what they
say they value.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {It is
vital that the team tries to choose one of}\fs24\cf0\f0\charscalex100 { the three
circles as your}\fs24\cf0\f0\charscalex100 { main strategy. You
may}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100 {come to a point
where you have to agree to di}\fs22\cf0\f0\charscalex100 {sagree on certain issues.
But don\uc1\u8217Xt give in to
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {temptation
of saying that you will focus on more than one of the circles. Any team
members}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {that
disagree with your final decision must st}\fs24\cf0\f0\charscalex100 {ill commit to
supporting th}\fs24\cf0\f0\charscalex100 {at decision. If
they}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{don\uc1\u8217Xt they will likely manage their department in ways that will depart
from your overall}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{strategy and, hence, the long-}\fs24\cf0\f0\charscalex100 {term success of your
business.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {As you proceed with the rest of the
chapters}\fs24\cf0\f0\charscalex100 { and exercises in this book, you may want
to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {revisit this exercise. It\uc1\u8217Xs certainly
possible that}\fs24\cf0\f0\charscalex100 { your preliminary
view }\fs24\cf0\f0\charscalex100 {of the three circles of}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {strategy will either change or become even
more}\fs24\cf0\f0\charscalex100 { solidified as you consider other issues
that}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {follow. This
is fine and to some extent expecte}\fs24\cf0\f0\charscalex100 {d. It is better to
rethi}\fs24\cf0\f0\charscalex100 {nk your strategic focus
in}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {order to create
a better one than it is to }\fs24\cf0\f0\charscalex100 {stick with a faulty or
inadequate
strategy.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn
253\slmult0 \fs20\cf0\f0\charscalex100\i {Creating a Successful Strategy}\i0
466\slmult0 \fs24\cf0\f0\charscalex100 {Chapter 3}\par\pard\li1133\ri0\sl-
\fs18\cf0\par\pard\li1133\ri0\sl-466\slmult0 \fs32\cf0\f0\charscalex100\b {The Four
Cornerstones of Business}\b0 \par\pard\li1133\ri0\sl-213\slmult0
{\uc1\u8220XThe ability to focus attention on important }\i0
\fs24\cf0\f0\charscalex100\i {things is a defining characteristic of}\i0
\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100\i
{intelligence.\uc1\u8221X (Robert J. Shiller) }\i0 \par\pard\li1133\ri0\sl-
\fs18\cf0\par\pard\li1133\ri0\sl-400\slmult0 \fs24\cf0\f0\charscalex100 {Now that
we\uc1\u8217Xve discussed the basics of creati}\fs24\cf0\f0\charscalex100 {ng a
solid, long-term strategy for your business,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {we\uc1\u8217Xre going to talk about how to
incorpor}\fs24\cf0\f0\charscalex100 {ate that strategy
thro}\fs24\cf0\f0\charscalex100 {ughout your company and}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {make it an effective, living, integral
part}\fs24\cf0\f0\charscalex100 { of your every day business life. This
is}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {accomplished by
properly focusing the actions}\fs24\cf0\f0\charscalex100 { and behaviors of your
team members}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{regarding their respectiv}\fs24\cf0\f0\charscalex100 {e responsibilities.
Employees must }\fs24\cf0\f0\charscalex100 {focus on those aspects of
your}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {business that
will give you a competitive advantage that is difficult to replicate by
other}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {companies in
your industry.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {It is
especially important that your management}\fs24\cf0\f0\charscalex100 { team is on
the same page and has the same }\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {priorities. These managers must manage
thei}\fs24\cf0\f0\charscalex100 {r departments in such a way that
employees}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{understand the general prioriti}\fs24\cf0\f0\charscalex100 {es and guidelines
required to}\fs24\cf0\f0\charscalex100 { support and maintain
your}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {corporate
strategy. Unless everyone}\fs24\cf0\f0\charscalex100 { in your company is working
from the same set of rules}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {and priorities, your strategy may become
nothi}\fs24\cf0\f0\charscalex100 {ng more than a confusing, meaningless
goal}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {that sounds
good on paper but never really help}\fs24\cf0\f0\charscalex100 {s your company
succeed. This section will tell}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {you how to focus the activities of your
employees}\fs24\cf0\f0\charscalex100 { in such a way that your strategy becomes
a}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {living, working
corporate success.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {There are
four basic principles that serve as th}\fs24\cf0\f0\charscalex100 {e cornerstones
of all businesses. They apply to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {business in general as well as to specific
areas }\fs24\cf0\f0\charscalex100 {of business, including each of the three
circles}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {of business
strategy. These four }\fs24\cf0\f0\charscalex100 {cornerstones of business
are:}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100
{External cost;}\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {Internal effort or
headcount;}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Speed of delivery; and}\par\pard\li1493\ri0\sl-
{Quality of products or services}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Let me
tell you what every customer in the entire}\fs24\cf0\f0\charscalex100 { world
wants. It is re}\fs24\cf0\f0\charscalex100 {ally quite simple.
They}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {want to buy
something that is low }\fs24\cf0\f0\charscalex100 {cost, requires low effort on
th}\fs24\cf0\f0\charscalex100 {eir part, is delivered to
them }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {quickly
and/or works quickly, and provides }\fs24\cf0\f0\charscalex100 {the highest
possible quality. If what your}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {company sells matches this description you\uc1\u8217Xre
o}\fs24\cf0\f0\charscalex100 {fferings will be among th}\fs24\cf0\f0\charscalex100
{e best in the world.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Now let me
tell you what the goal is of every co}\fs24\cf0\f0\charscalex100 {mpany in the
world. It is equally as simple.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {Every company wants to produce desirable
products }\fs24\cf0\f0\charscalex100 {or services without paying a lot to
either}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133
\cols2\colno1\colw7693\colsr-0\colno2\colw3746\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {external
or internal resources }\fs24\cf0\f0\charscalex100 {and do so with as much
speed }\fs24\cf0\f0\charscalex100 {to market and quality as
is}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {required to meet
their customers\uc1\u8217X needs. If }\fs24\cf0\f0\charscalex100 {your company can
achieve these goals it will be}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {much more likely to be profitable and
successful.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {If you currently run a business
or }\fs24\cf0\f0\charscalex100 {have done so in the past,
thi}\fs24\cf0\f0\charscalex100 {nk about any of the
complaints}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{you\uc1\u8217Xve heard from your customers. When broken down to their most basic
element, I}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{guarantee that they will fall into}\fs24\cf0\f0\charscalex100 { one or more of
these four cornerstones of business. Even}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {though they didn\uc1\u8217Xt word it this way and you
may not }\fs24\cf0\f0\charscalex100 {have realized it at the time, this is
true}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {of literally
every complaint ever registered by }\fs24\cf0\f0\charscalex100 {any customer of any
company anywhere in the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {world. Pretty bold statement? All you have
to}\fs24\cf0\f0\charscalex100 { do to prove me wrong is to think of
a}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {complaint, either
by you as a consumer or by one }\fs24\cf0\f0\charscalex100 {of your customers,
that}\fs24\cf0\f0\charscalex100 { falls outside of the}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {scope of cost, effort, speed, or quality.
Perhaps }\fs24\cf0\f0\charscalex100 {there is something, but in asking this
question}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {to
countless business men and women, it generally }\fs24\cf0\f0\charscalex100
{doesn\uc1\u8217Xt take long to }\fs24\cf0\f0\charscalex100 {isolate one of
these}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {four areas as
the main concern.}\par\pard\li1133\ri0\sl-213\slmult0
take this one step further. If you have }\fs24\cf0\f0\charscalex100 {internal
inefficiencies wi}\fs24\cf0\f0\charscalex100 {thin your business, it
is}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {likely because
you are deficient in one or mo}\fs24\cf0\f0\charscalex100 {re of these four areas.
You may blame a }\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{problem on a specific employee, a process, }\fs24\cf0\f0\charscalex100 {a
technology, a vendor, or even yourself. But,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {regardless of whose fault it may or may not be, the
inefficiency will boil down to your}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {business spending too much money, expending
t}\fs24\cf0\f0\charscalex100 {oo much effort, being too slow, or
not}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {producing high
enough quality to meet the needs }\fs24\cf0\f0\charscalex100 {of your target
customers. Knowing how to}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {properly focus on these four keys of
busine}\fs24\cf0\f0\charscalex100 {ss will largely determine whether
you\uc1\u8217Xll be}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{successful in business or not.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {I studied
philosophy in college, whic}\fs24\cf0\f0\charscalex100 {h is often little more than
an}\fs24\cf0\f0\charscalex100 { effort to define what it
is}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {you\uc1\u8217Xre
talking about. I\uc1\u8217Xm afraid old habits die hard. My need for good
definitions has}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{followed me into my business life, where I have found it to be invaluable. The
following}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {sections
of this chapter will be spent defining }\fs24\cf0\f0\charscalex100 {our four
cornerstones. Please don\uc1\u8217Xt skip these}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {sections. You would be surprised how many
people}\fs24\cf0\f0\charscalex100 { have differing definitions of these
four}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {concepts,
especially quality. In }\fs24\cf0\f0\charscalex100 {fact, the chances are pretty
go}\fs24\cf0\f0\charscalex100 {od that some of your
managers}\par\pard\li1133\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {will have
differing definitions of one or more of}\fs22\cf0\f0\charscalex100 { these basic
principles of business than do the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {rest of your management team. It is
important }\fs24\cf0\f0\charscalex100 {that everyone
understand}\fs24\cf0\f0\charscalex100 {s what these
concepts}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {mean as
they apply to your specific business.}\fs24\cf0\f0\charscalex100 { Only then can
you eff}\fs24\cf0\f0\charscalex100 {ectively apply them to}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {your chosen strategy and achieve the
success you desire.}\par\pard\li1133\ri0\sl-213\slmult0
360\slmult0 \fs24\cf0\f0\charscalex100\b \i {External Cost}\b0 \i0
\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Simply put, this is
the money your business pays}\fs24\cf0\f0\charscalex100 { to people outside of your
company. During}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the
last few decades, this has }\fs24\cf0\f0\charscalex100 {become a vital part of
doing bus}\fs24\cf0\f0\charscalex100 {iness. The terms \uc1\u8220Xvendor\uc1\u8221X
and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{\uc1\u8220Xoutsource\uc1\u8221X have become as common in
busin}\fs24\cf0\f0\charscalex100 {ess as profit and
loss.}\fs24\cf0\f0\charscalex100 { It\uc1\u8217Xs important
to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {understand that
this wasn\uc1\u8217Xt always the case. In}\fs24\cf0\f0\charscalex100 { the past,
many companies were virtually self-}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {sufficient. Today, they need to outsource
and }\fs24\cf0\f0\charscalex100 {partner in order to streamline, focus
their}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {efforts, and
be successful.}\par\pard\li1133\ri0\sl-213\slmult0
{One of the most extreme examples of self-s}\fs24\cf0\f0\charscalex100 {ufficiency
was WordPerfect Corporation. I}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {worked there for over eight years. I
watched }\fs24\cf0\f0\charscalex100 {WordPerfect grow from 250 employees to
over}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\c
ols2\colno1\colw9026\colsr-0\colno2\colw2413\pard\li1133\ri0\sl-213\slmult0
\fs20\cf0\f0\charscalex100\i {The Four Cornerstones of Business}\i0
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {5,000.
Then I watched it go back down to 500, and then}\fs24\cf0\f0\charscalex100
{ literally to zero as its remnants were}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {either sold off or died out
entirely.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Other than being a great company to
work}\fs24\cf0\f0\charscalex100 { for, WordPerfect was known as a
fairly}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {conservative
company. One of the goals of its lead}\fs24\cf0\f0\charscalex100 {ership was to be
comple}\fs24\cf0\f0\charscalex100 {tely self-sufficient.}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {As a result, WordPerfect delved into many
di}\fs24\cf0\f0\charscalex100 {fferent types of
\uc1\u8220Xbus}\fs24\cf0\f0\charscalex100 {inesses\uc1\u8221X other
than}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {software
development. In its hay day th}\fs24\cf0\f0\charscalex100 {e company provided its
own food services,}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{manufacturing, distribution, mark}\fs24\cf0\f0\charscalex100 {eting, PR,
localization, and l}\fs24\cf0\f0\charscalex100 {iterally everything else
it}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {needed in order
to meet the needs of its cu}\fs24\cf0\f0\charscalex100 {stomers and
employees. }\fs24\cf0\f0\charscalex100 {It even had its
own}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {construction
company to keep up with the rapid }\fs24\cf0\f0\charscalex100 {growth it was
experiencing at the time. One}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {of the only major components
requ}\fs24\cf0\f0\charscalex100 {ired but not owned was a
prin}\fs24\cf0\f0\charscalex100 {ting press to print the
large}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {manuals that
accompanied the company\uc1\u8217Xs software products during that time. And
I\uc1\u8217Xm told}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{that was under serious cons}\fs24\cf0\f0\charscalex100 {ideration more than
once.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {I learned a great lesson when
N}\fs24\cf0\f0\charscalex100 {ovell acquired WordPerfect in the mid 90\uc1\u8217Xs.
One of the first}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{things they said was that they were willing }\fs24\cf0\f0\charscalex100 {to spend
up to 20% more for anything that could}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {be outsourced instead of being produced in
house. }\fs24\cf0\f0\charscalex100 {As a result, one of the first things they
did}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {was to sell off
many parts of the company }\fs24\cf0\f0\charscalex100 {to outside vendors. (Talk
about a clash of}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100
{corporate cultures!) I didn\uc1\u8217Xt understand this
stra}\fs22\cf0\f0\charscalex100 {tegy until one day, in
front}\fs22\cf0\f0\charscalex100 { of a large group of}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {complaining WordPerfect managers and
direct}\fs24\cf0\f0\charscalex100 {ors, one of
Novell\uc1\u8217Xs}\fs24\cf0\f0\charscalex100 { executives made
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {following
statement:}\par\pard\li1853\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1853\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\i {\uc1\u8220XWe need to decide how many
different businesses we want to be in.\uc1\u8221X}\i0 \par\pard\li1133\ri0\sl-
{It had never occurred to me until then that}\fs24\cf0\f0\charscalex100 { all of
these components of WordPerfect}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {Corporation were, in fact, completely
different}\fs24\cf0\f0\charscalex100 { types of businesses. What in the world
did}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {food services
or construction }\fs24\cf0\f0\charscalex100 {have in common with
softwa}\fs24\cf0\f0\charscalex100 {re development?
Nothing!}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {As part of this change in
st}\fs24\cf0\f0\charscalex100 {rategy I was asked to create an
out}\fs24\cf0\f0\charscalex100 {sourced solution for one of
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {mainstays of
WordPerfect\uc1\u8217Xs hi}\fs24\cf0\f0\charscalex100 {story, knowing that as I
succ}\fs24\cf0\f0\charscalex100 {eeded in my task,
numerous}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {employees,
many of whom I had hired myse}\fs24\cf0\f0\charscalex100 {lf, and with whom I had
become well-}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{acquainted, would be laid off as a }\fs24\cf0\f0\charscalex100 {direct result of
my efforts. }\fs24\cf0\f0\charscalex100 {Needless to say, this wasn\uc1\u8217Xt
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {definition
of \uc1\u8220Xbusiness success\uc1\u8221X that}\fs24\cf0\f0\charscalex100 { I had
envisioned for my career.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Since then
I\uc1\u8217Xve learned that successful }\fs24\cf0\f0\charscalex100 {outsourcing
\uc1\u8211X having a budget to spend on other}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {companies \uc1\u8211X is vital to most
successful businesses. Managing this external cost well
will}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {largely
determine how successful your business }\fs24\cf0\f0\charscalex100 {can become.
You, like lit}\fs24\cf0\f0\charscalex100 {erally all of
your}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {customers,
need to have quick access to high-}\fs24\cf0\f0\charscalex100 {quality products and
serv}\fs24\cf0\f0\charscalex100 {ices at a good price.}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {One of the main reasons for this is to
reduce }\fs24\cf0\f0\charscalex100 {your internal effort as a company and
enable}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {you to focus
on what you do best.}\par\pard\li1133\ri0\sl-213\slmult0
360\slmult0 \fs24\cf0\f0\charscalex100\b \i {Internal Effort or Headcount}\b0
\i0 \par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {\uc1\u8220XTime
is money\uc1\u8221X is an old clich�, but is still ba}\fs24\cf0\f0\charscalex100
{sically true when it comes to internal effort in}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {business. Regardless of how much you pay
your}\fs24\cf0\f0\charscalex100 { employees, if they can accomplish the
same }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {thing today
with less effort than it took }\fs24\cf0\f0\charscalex100 {yesterday,
you\uc1\u8217Xre ahead of the
game. }\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn13
466\slmult0 \fs24\cf0\f0\charscalex100 {Internal effort is often
confus}\fs24\cf0\f0\charscalex100 {ed with external cost. Many
peop}\fs24\cf0\f0\charscalex100 {le in business as well as
many}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {college
professors make the mistake of lump}\fs24\cf0\f0\charscalex100 {ing these two
categories into one group called}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {\uc1\u8220Xcost.\uc1\u8221X}{
}\fs24\cf0\f0\charscalex100\i {Do not make this mistake.}\i0
\fs24\cf0\f0\charscalex100 { Things have changed in today\uc1\u8217Xs economy. The
popular}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {triangle of
cost, speed, and quality is inadequa}\fs24\cf0\f0\charscalex100 {te. In order to be
su}\fs24\cf0\f0\charscalex100 {ccessful in business
you\uc1\u8217Xll}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{need to view internal effort and external cost}\fs24\cf0\f0\charscalex100 { as
completely separate items. You need to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {decide what makes sense to do internally
and }\fs24\cf0\f0\charscalex100 {what should be
outsource}\fs24\cf0\f0\charscalex100 {d, even if it
\uc1\u8220Xcosts\uc1\u8221X}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {you more. Saving money internally is a very
diffe}\fs24\cf0\f0\charscalex100 {rent activity than saving money
externally.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {One of the executives of a company I worked
}\fs24\cf0\f0\charscalex100 {with was once asked, \uc1\u8220XWhat is the purpose
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {your
company?\uc1\u8221X With almost no hesitation the }\fs24\cf0\f0\charscalex100
{executive answered, \uc1\u8220XTo hire as many people}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {as possible and pay them as much as we
can.\uc1\u8221X}\fs24\cf0\f0\charscalex100 { A noble goal, indeed
\uc1\u8211X }\fs24\cf0\f0\charscalex100 {one that (along
with}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {other
problems) ultimately resulted in laying off almost all of their employees and
paying}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {them nothing
(because they now had no jobs). There was never anything wrong with
the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {hearts or
intentions of this company\uc1\u8217Xs leader}\fs24\cf0\f0\charscalex100 {ship.
They were the kind of people you loved to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {work for. Unfortunately, sustaining such
lo}\fs24\cf0\f0\charscalex100 {fty goals while battling some pretty
stiff}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {competition
has its drawbacks.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Every
company needs employees, even if you }\fs24\cf0\f0\charscalex100 {are the only one
and you outsource literally}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {everything else your company does. Because
yo}\fs24\cf0\f0\charscalex100 {u have employees who are unwilling and
or}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {unable to work
for free (at least not for ve}\fs24\cf0\f0\charscalex100 {ry long) you need to
accomplish as much as }\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {possible with as few employees as possible.
Wh}\fs24\cf0\f0\charscalex100 {en trying to grow a business, it is
always}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {better to be
able to pay some employees some}\fs24\cf0\f0\charscalex100 {thing than it is to not
pay any employees}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{anything.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Low internal effort is clearly one of the
ke}\fs24\cf0\f0\charscalex100 {y elements of business success.
Unfortunately,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {many
companies today define th}\fs24\cf0\f0\charscalex100 {is as working their
employees}\fs24\cf0\f0\charscalex100 { harder and longer.
This}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {solution
inevitably results in employee burn out, hi}\fs24\cf0\f0\charscalex100 {gh turnover
rates, and more effort spent in}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {training, hiring, and managing your company,
not}\fs24\cf0\f0\charscalex100 { to mention the creation of a
very}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {unappealing
and unmotivating work environment. Li}\fs24\cf0\f0\charscalex100 {fe is too short
to be wasted in such an}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {environment. As will be discussed in later
ch}\fs24\cf0\f0\charscalex100 {apters, successful companies eventually
learn}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {that working
smarter beats working harder every time.}\par\pard\li1133\ri0\sl-213\slmult0
373\slmult0 \fs24\cf0\f0\charscalex100\b \ul {Products Vs. Services}\b0 \ul0
\fs24\cf0\f0\charscalex100 {Here\uc1\u8217Xs an extra thought
concer}\fs24\cf0\f0\charscalex100 {ning the management of
intern}\fs24\cf0\f0\charscalex100 {al effort and headcount. If
you}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {choose to
engage in a service-oriented business }\fs24\cf0\f0\charscalex100 {there are some
things that need to be taken}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {into consideration that don\uc1\u8217Xt
always }\fs24\cf0\f0\charscalex100 {apply to a product-oriented
346\slmult0 \fs24\cf0\f0\charscalex100 {Most investors prefer product-oriented
companie}\fs24\cf0\f0\charscalex100 {s to those that are
mo}\fs24\cf0\f0\charscalex100 {re service-oriented.}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {This is largely because companies that sell
pr}\fs24\cf0\f0\charscalex100 {oducts are generally more profitable than
those}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {that sell
services. Oversimplifying the issue,}\fs24\cf0\f0\charscalex100 { in most cases
product companies make}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {something once and then go sell as many of
t}\fs24\cf0\f0\charscalex100 {hose things as possibl}\fs24\cf0\f0\charscalex100 {e.
Service businesses}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{generally have to use people every time they se}\fs24\cf0\f0\charscalex100 {ll
something - usually a team of people. This}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {presents a particularly difficult situation
when}\fs24\cf0\f0\charscalex100 { it comes to managing internal effort
and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {headcount
within a services business. If }\fs24\cf0\f0\charscalex100 {you sell too much,
you\uc1\u8217Xre understaffed and
can\uc1\u8217Xt}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\ma
rgrsxn133\cols2\colno1\colw9026\colsr-0\colno2\colw2413\pard\li1133\ri0\sl-
320\slmult0 \fs20\cf0\f0\charscalex100\i {The Four Cornerstones of Business}\i0
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
413\slmult0 \fs24\cf0\f0\charscalex100 {deliver what you\uc1\u8217Xve sold. If
you }\fs24\cf0\f0\charscalex100 {sell too little, you\uc1\u8217Xre
overstaffed }\fs24\cf0\f0\charscalex100 {and can\uc1\u8217Xt afford to pay
your}\par\pard\li1133\ri0\sl-306\slmult0 \fs24\cf0\f0\charscalex100 {employees.}
{\super \fs16\up4\cf0\f0\charscalex100 {1}}\par\pard\li1133\ri0\sl-213\slmult0
quickest, simplest, and most valuable advi}\fs24\cf0\f0\charscalex100 {ce I could
give you if you\uc1\u8217Xre in a services-}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {oriented business can be summarized in
tw}\fs24\cf0\f0\charscalex100 {o words: process and automation. The
more}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{you\uc1\u8217Xre able to use repeatable, easy-to-train,
ea}\fs24\cf0\f0\charscalex100 {sy-to-implement processes, the more
efficient}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {and
profitable your services business will be. }\fs24\cf0\f0\charscalex100 {The more
things you can automate, the fewer}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {people you\uc1\u8217Xll need and the faster and more
e}\fs24\cf0\f0\charscalex100 {fficient your employees wi}\fs24\cf0\f0\charscalex100
{ll be. There are at}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{least four major benefits of being process-}\fs24\cf0\f0\charscalex100 {oriented
and using automation in a services }\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {business:}\par\pard\li1493\ri0\sl-213\slmult0
{1.}\tab \fs24\cf0\f0\charscalex100 {It is easier to train new employees and get
them up to speed;}\par\pard\li1493\ri0\sl-213\slmult0
{2.}\tab \fs24\cf0\f0\charscalex100 {You\uc1\u8217Xre able to employ lower
pa}\fs24\cf0\f0\charscalex100 {id people with fewer
skills;}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{You (and your customers) will experience less human error;
and}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{What you do will be easier to explain a}\fs24\cf0\f0\charscalex100 {nd sell to
your prospective customers.}\par\pard\li1133\ri0\sl-213\slmult0
{I\uc1\u8217Xve met a lot of people in the services
business }\fs24\cf0\f0\charscalex100 {who have struggled because they
didn\uc1\u8217Xt have}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {a solid, repeatable process. Many of these
pe}\fs24\cf0\f0\charscalex100 {ople believed that th}\fs24\cf0\f0\charscalex100
{eir business didn\uc1\u8217Xt lend}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {itself to a repeatable
process }\fs24\cf0\f0\charscalex100 {or automation. Yet, my
experien}\fs24\cf0\f0\charscalex100 {ce has been that most
service}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {businesses
lend themselves to both process and }\fs24\cf0\f0\charscalex100 {automation to some
degree \uc1\u8211X some more than}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {others. The bottom line is that the more you
can }\fs24\cf0\f0\charscalex100 {turn your service into a product, the easier
it}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {will be to
manage headcount and the more }\fs24\cf0\f0\charscalex100 {competitive your company
will be. The more}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{haphazard and unorganized the delivery of your serv}\fs24\cf0\f0\charscalex100
{ices is, the more difficult it is to remain}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {competitive and profitable.}\par\pard\li1133\ri0\sl-
\fs18\cf0\par\pard\li1133\ri0\sl-360\slmult0 \fs24\cf0\f0\charscalex100\b \i {Speed
of Delivery}\b0 \i0 \par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100
{The next vital component of our four cornerst}\fs24\cf0\f0\charscalex100 {ones is
speed. The specific definition of speed}\par\pard\li1133\ri0\sl-280\slmult0
\fs22\cf0\f0\charscalex100 {will vary from business to business. For some
bu}\fs22\cf0\f0\charscalex100 {sinesses, such as those that provide
services,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {speed
often means delivering when something is}\fs24\cf0\f0\charscalex100 { promised. For
example, when Bob\uc1\u8217Xs Tire}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {and Oil says my car will be fixed on Friday,
I }\fs24\cf0\f0\charscalex100 {expect that to happen. For other
businesses,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {such as
the software industry, speed often }\fs24\cf0\f0\charscalex100 {means as soon as
you possibly can. The sooner}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {companies like these have the next version
of}\fs24\cf0\f0\charscalex100 { their product ready,
the }\fs24\cf0\f0\charscalex100 {sooner they can start}\par\pard\li1133\ri0\sl-
266\slmult0 \fs22\cf0\f0\charscalex100 {marketing and selling the new features.
Still ot}\fs22\cf0\f0\charscalex100 {her businesses will equate speed with
reducing}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the amount
of time it takes their customers to do something. For example, no customer
likes}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {to wait in
long lines at the local department stor}\fs24\cf0\f0\charscalex100 {e or wait to
get a sales associate to help them }\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {with something. You\uc1\u8217Xll need to define
what}\fs24\cf0\f0\charscalex100 { speed means to your business. Simply
ask}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
{1}\fs20\cf0\f0\charscalex100 { One exception to this basic rule of thumb has come
about as part of the popularity of the Internet. Software
as}\par\pard\li1133\ri0\sl-226\slmult0 \fs20\cf0\f0\charscalex100 {a service or SAS
has introduced whol}\fs20\cf0\f0\charscalex100 {e new aspects of being a service-
orie}\fs20\cf0\f0\charscalex100 {nted company. Using technology
to }\par\pard\li1133\ri0\sl-226\slmult0 \fs20\cf0\f0\charscalex100 {provide a
service instead of using people can eliminate }\fs20\cf0\f0\charscalex100 {some of
the difficulties of managing a service-oriented }\par\pard\li1133\ri0\sl-
226\slmult0 \fs20\cf0\f0\charscalex100 {business and make it much more like a
product business in this
regard.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn13
{yourself, \uc1\u8220XIf we could do or provide something
fa}\fs24\cf0\f0\charscalex100 {ster and thereby achieve}\fs24\cf0\f0\charscalex100
{ greater sales, more}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {up sell opportunities,
and/or }\fs24\cf0\f0\charscalex100 {greater customer retention, what would it
be?\uc1\u8221X }\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {People
remember speed of delivery. As long as}\fs24\cf0\f0\charscalex100 { you can do so
without}\fs24\cf0\f0\charscalex100 { losing the sale, I}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {highly recommend the approach of under
promisi}\fs24\cf0\f0\charscalex100 {ng and over delivering in the area of
speed.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{You\uc1\u8217Xre expected to deliver when you say
you\uc1\u8217Xre}\fs24\cf0\f0\charscalex100 { going to deliver.
You }\fs24\cf0\f0\charscalex100 {only get one point for}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {that, nothing more and nothing
less.}\fs24\cf0\f0\charscalex100 { But a point is sti}\fs24\cf0\f0\charscalex100
{ll a point. However, if you deliver ahead}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {of schedule you get multiple points and if
you }\fs24\cf0\f0\charscalex100 {deliver later than promised you\uc1\u8217Xre
docked}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {multiple
points. This is sometimes unfair but nonetheless true. The more points you get,
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {more customers
you gain and retain. So, if you }\fs24\cf0\f0\charscalex100 {can realistically
deliver something in four}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {days, it is sometimes a good idea
to}\fs24\cf0\f0\charscalex100 { tell your customer you\uc1\u8217Xll
deliver }\fs24\cf0\f0\charscalex100 {it in five days and
then}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {deliver one
day ahead of schedule. The excepti}\fs24\cf0\f0\charscalex100 {on to this rule
come}\fs24\cf0\f0\charscalex100 {s when you start losing}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {sales because your competition claims they
can do the same thing in three days.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Speed also
applies to internal}\fs24\cf0\f0\charscalex100 { operations. How quickly can
yo}\fs24\cf0\f0\charscalex100 {u meet the needs of someone}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {else in your company so they, in turn, can
meet }\fs24\cf0\f0\charscalex100 {the needs of customers? All of the
definitions}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {of
speed that apply to customers also apply }\fs24\cf0\f0\charscalex100 {to co-workers
who depend on someone else in}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {order to do their jobs. For all intents and
purpos}\fs24\cf0\f0\charscalex100 {es, they are \uc1\u8220Xcustomers\uc1\u8221X as
well and, to some }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{extent, need to be treated as such.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {Whether
we\uc1\u8217Xre talking about meeting your custom}\fs24\cf0\f0\charscalex100
{ers\uc1\u8217X needs, your employees needs, or the}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {demands you place on your suppliers, the
ability to deliver on time, or better yet, ahead of}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {schedule, will have a profound
effect}\fs24\cf0\f0\charscalex100 { on the success of your
\fs24\cf0\f0\charscalex100\b \i {Quality}\b0 \i0 \par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Of the four cornerstones, quality is always
the }\fs24\cf0\f0\charscalex100 {most difficult for companies to define. This
is}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {because
different people within a company view quality in very different ways. To
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {engineer,
quality may mean that}\fs24\cf0\f0\charscalex100 { the product in its current
fo}\fs24\cf0\f0\charscalex100 {rm functions properly. To
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {marketing
person it might be far more important }\fs24\cf0\f0\charscalex100 {that specific
features are in the product in}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {the first place, regardless of whether or not
th}\fs24\cf0\f0\charscalex100 {ey have all the bugs ironed out. To the
sales}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {guy, who has
to continually demo the product to }\fs24\cf0\f0\charscalex100 {prospects, quality
may mean ease of use.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Believe it
or not, when it comes to quality the most common mistake businesses make is
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {have too much of
it. All good business owners}\fs24\cf0\f0\charscalex100 { tend to take pride in
their company and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{naturally want to produce the best they }\fs24\cf0\f0\charscalex100 {can. This is
a good way to view and run your}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {business. However, high quality usually
comes }\fs24\cf0\f0\charscalex100 {at a high price. Every time you increase
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100 {quality of your
product or servi}\fs22\cf0\f0\charscalex100 {ce you\uc1\u8217Xll find
there\uc1\u8217Xs a tradeoff }\fs22\cf0\f0\charscalex100 {involved. Usually this
tradeoff}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {will be in
the areas of more external cost, more}\fs24\cf0\f0\charscalex100 { internal effort,
or decreased speed to market.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {You need to continually ask yourself
(and }\fs24\cf0\f0\charscalex100 {your employees) whether or not the
quality}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {standards
you\uc1\u8217Xve set are more or}\fs24\cf0\f0\charscalex100 { less than your
customers need in order to buy what you sell.}\par\pard\li1133\ri0\sl-
{Here\uc1\u8217Xs a real life example of th}\fs24\cf0\f0\charscalex100 {e tradeoffs
involved with qualit}\fs24\cf0\f0\charscalex100 {y. To this day I still
believe}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {that
WordPerfect Corporation had a much better wo}\fs24\cf0\f0\charscalex100 {rd
processor than Microsoft. In fact, in a}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {survey taken in the early 90\uc1\u8217Xs, over 50%
of}\fs24\cf0\f0\charscalex100 { WordPerfect customers said that under
no}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {circumstances
would they ever switch to a diffe}\fs24\cf0\f0\charscalex100 {rent word processor.
Yet, a few years
later,}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133
{WordPerfect was laying people off while }\fs24\cf0\f0\charscalex100 {Microsoft was
cashing checks from former}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {WordPerfect customers. This is because
cu}\fs24\cf0\f0\charscalex100 {stomers ended up placing }\fs24\cf0\f0\charscalex100
{a higher priority on}\par\pard\li1133\ri0\sl-280\slmult0
\fs22\cf0\f0\charscalex100 {other aspects of word processors such as
co}\fs22\cf0\f0\charscalex100 {st, speed, and easier
avai}\fs22\cf0\f0\charscalex100 {lability. At the time }\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {WordPerfect sold it\uc1\u8217Xs word
processor for a}\fs24\cf0\f0\charscalex100 {bout $500. At one point Microsoft
offered their}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{entire suite of products (word processor, spre}\fs24\cf0\f0\charscalex100
{adsheet, presentations software, etc.) for about}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {$100. The deal was just too good for
customer}\fs24\cf0\f0\charscalex100 {s to pass up and even the most
loyal}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {WordPerfect
users began to buy and use what th}\fs24\cf0\f0\charscalex100 {ey openly considered
to be an inferior}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{product. But the manner in which Microsoft so}\fs24\cf0\f0\charscalex100 {ld these
products made these inadequacies}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {bearable, even to the point that we
came }\fs24\cf0\f0\charscalex100 {to simply accept rebooting our computers as
a}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {common way to
solve most technical problem}\fs24\cf0\f0\charscalex100 {s we\uc1\u8217Xre having.
Every customer has their}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {thresholds in the areas of cost, effort,
speed, }\fs24\cf0\f0\charscalex100 {and quality. You need to find out what
your}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{customer\uc1\u8217Xs thresholds are and then, like
Micros}\fs24\cf0\f0\charscalex100 {oft, make use of them to your advantage
by}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {giving customers
what they really want instead }\fs24\cf0\f0\charscalex100 {of just what they
sometimes say they want.}\par\pard\li1133\ri0\sl-213\slmult0
{I\uc1\u8217Xm not saying that you should produce junk
or}\fs24\cf0\f0\charscalex100 { purposely mislead your customers by
selling}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {less than
they expect. What I am saying is that}\fs24\cf0\f0\charscalex100 { you need to give
your customers what they}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {really want, and that\uc1\u8217Xs not always higher
qual}\fs24\cf0\f0\charscalex100 {ity. You have to judge quality based on
what}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {your customers
will buy, not based on what you }\fs24\cf0\f0\charscalex100
{or your employees think is really cool. You}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {must weigh your customers\uc1\u8217X desire
for quality}\fs24\cf0\f0\charscalex100 { against their
desire }\fs24\cf0\f0\charscalex100 {for lower cost, lower}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {effort, and faster speed.
There }\fs24\cf0\f0\charscalex100 {will always be tradeoffs involved and you must
be able to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {accept
those tradeoffs in order to become succes}\fs24\cf0\f0\charscalex100 {sful. In the
end, if your target customers}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {repeatedly choose your product over your
competit}\fs24\cf0\f0\charscalex100 {ion\uc1\u8217Xs product, your quality is
probably}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {good
enough.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {In order to properly define quality for
your spec}\fs24\cf0\f0\charscalex100 {ific business you must
fi}\fs24\cf0\f0\charscalex100 {rst define your target}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {market. You must understand your
customers\uc1\u8217X want}\fs24\cf0\f0\charscalex100 {s and needs. No business can
be all things}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {to
all people. Those who try, generally fail. }\fs24\cf0\f0\charscalex100 {Those who
define quality without taking their}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {target market into account will usually fail as
we}\fs24\cf0\f0\charscalex100 {ll. This will be discussed in greater
detail}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {later in
this book. For now, give the following ex}\fs24\cf0\f0\charscalex100 {ercise a try.
Most companies I\uc1\u8217Xve worked}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {with find it to be very
revealing.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\i {EXERCISE: Defining Quality in Your
Business}\i0 \par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {How do
the key people who represent the vari}\fs24\cf0\f0\charscalex100 {ous organizations
in your business define}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {quality? Use the following list as a guide for this
exercise:}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Marketing/Advertising}\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Sales}\par\pard\li1493\ri0\sl-266\slmult0
{Development (R&D)}\par\pard\li1493\ri0\sl-280\slmult0
{Product or service}\par\pard\li1493\ri0\sl-280\slmult0
{Project management}\par\pard\li1493\ri0\sl-266\slmult0
{Fulfillment/Delivery/Execution}\par\pard\li1493\ri0\sl-280\slmult0
{Finance}\par\pard\li1493\ri0\sl-280\slmult0 \*\tx1853\fs24\cf0\f1\charscalex100
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {Human
Resources}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn
of Business}\i0
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {Not all
companies have a department or manage}\fs24\cf0\f0\charscalex100 {r for each of the
areas }\fs24\cf0\f0\charscalex100 {listed above. If more}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {appropriate to your situation,
you }\fs24\cf0\f0\charscalex100 {can involve the key leaders
of }\fs24\cf0\f0\charscalex100 {your specific business in
this}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {exercise
instead of the heads of each department.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Ask each
of the people in charge of each of th}\fs24\cf0\f0\charscalex100 {e areas listed
above (or whatever leaders you}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {choose) to define quality as it applies to your
bus}\fs24\cf0\f0\charscalex100 {iness. Don\uc1\u8217Xt let them work in teams or
even}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {consult with
one another before answering. Th}\fs24\cf0\f0\charscalex100 {eir answers
don\uc1\u8217Xt need }\fs24\cf0\f0\charscalex100 {to be long, but
should}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {capture what
they feel are the most important }\fs24\cf0\f0\charscalex100 {aspects of quality as
it }\fs24\cf0\f0\charscalex100 {pertains to the success}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {of your company.}\par\pard\li1133\ri0\sl-
{Try to figure out how each person\uc1\u8217Xs
perspective }\fs24\cf0\f0\charscalex100 {may be different than the others. You
may}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {need to
covertly talk to some of them one }\fs24\cf0\f0\charscalex100 {on one, but do not
coach them at this point. Let}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {them know that you honestly want to hear
thei}\fs24\cf0\f0\charscalex100 {r \uc1\u8220Xheart of heart\uc1\u8221X views on
the matter. Once}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{you\uc1\u8217Xre satisfied that you understand }\fs24\cf0\f0\charscalex100 {each
leader\uc1\u8217Xs view of what }\fs24\cf0\f0\charscalex100 {quality is and is not
as it}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {pertains to
your specific business,}\fs24\cf0\f0\charscalex100 { ask yourself
the }\fs24\cf0\f0\charscalex100 {following questions:}\par\pard\li1493\ri0\sl-
{With which perspectives do you agree the most? }\par\pard\li1493\ri0\sl-
{With which perspectives}\fs24\cf0\f0\charscalex100 { do you agree the
least?}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Are there some perspectives that deserve
mo}\fs24\cf0\f0\charscalex100 {re attention than they\uc1\u8217Xre currently
getting}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {in the
company?}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Do different departments define
quality}\fs24\cf0\f0\charscalex100 { based on their specific task or
job}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {description? Is
their view t}\fs24\cf0\f0\charscalex100 {oo narrow? Is yours too
broad? }\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {How might each person\uc1\u8217Xs
definition }\fs24\cf0\f0\charscalex100 {of quality hurt your
business? }\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {How might it help your
business? }\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {How do the definitions of your key employees compare
with how your customers}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {would define quality? }\par\pard\li1493\ri0\sl-
{What else have you learned from these responses? }\par\pard\li1133\ri0\sl-
{Once you\uc1\u8217Xve gathered and written down
everyone}\fs24\cf0\f0\charscalex100 {\uc1\u8217Xs answers, get your team together
and}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {share the various
perspectives }\fs24\cf0\f0\charscalex100 {with them. Ask them to
criti}\fs24\cf0\f0\charscalex100 {que the definitions by
discussing}\par\pard\li1133\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {the pros
and cons of each. See if you can get }\fs22\cf0\f0\charscalex100 {everyone to come
to a consensus by agreeing on}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {one final definition that best
ap}\fs24\cf0\f0\charscalex100 {plies to your business. This
ma}\fs24\cf0\f0\charscalex100 {y be a combination of
several}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {ideas. Be
sure to discuss what needs to happen }\fs24\cf0\f0\charscalex100 {in order to
achieve this}\fs24\cf0\f0\charscalex100 { definition of
quality.}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Then
discuss whether or not this definition of qua}\fs24\cf0\f0\charscalex100 {lity is
realistic, given the other tradeoffs of }\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {speed, effort, and cost involved
w}\fs24\cf0\f0\charscalex100 {ith achieving that level of quality. What changes
need to be}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {made
within your business in each department }\fs24\cf0\f0\charscalex100 {in order to
conform to this definition of }\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {quality? What things should remain the
same?}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\
cols2\colno1\colw9026\colsr-0\colno2\colw2413\pard\li1133\ri0\sl-213\slmult0
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
400\slmult0 \fs24\cf0\f0\charscalex100\b \i {Managing A Strategic Business}\b0
\i0 \par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {It should be
clear by now that implementing a }\fs24\cf0\f0\charscalex100 {strategy is not only
about choosing which one}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {of the three circles you want
as}\fs24\cf0\f0\charscalex100 { your main focus. It\uc1\u8217Xs
also }\fs24\cf0\f0\charscalex100 {about organizing or
reorganizing}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {your
business so that your strategy becomes th}\fs24\cf0\f0\charscalex100 {e center of
everyone\uc1\u8217Xs attention. Everything}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {you do, including the people you hire, the
partners}\fs24\cf0\f0\charscalex100 { you choose, the processes you
implement,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the way
you warehouse, your methods of distribu}\fs24\cf0\f0\charscalex100 {tion, and all
other aspects of your business}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {should be done in a manner that helps you
focus }\fs24\cf0\f0\charscalex100 {on your chosen circle of strategy better
than}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {anyone
else.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {The way in which you begin to focus on your
}\fs24\cf0\f0\charscalex100 {strategy and the way you choose to
implement}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {it will
inevitably bring you back to the four}\fs24\cf0\f0\charscalex100 { cornerstones of
business. In order to be}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {successful, you must achieve one or
more}\fs24\cf0\f0\charscalex100 { of the following goals better than
{competition:}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Reduce your internal headcount or
effort;}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Reduce your external costs;}\par\pard\li1493\ri0\sl-
{Increase your speed of delivery; or}\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {Provide the highest
qual}\fs24\cf0\f0\charscalex100 {ity to your customers.}\par\pard\li1133\ri0\sl-
{Ideally you want to be great at }\fs24\cf0\f0\charscalex100 {all four of these
areas. However, as previously discussed, this}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {is usually impossible and certainly
improbable.}\fs24\cf0\f0\charscalex100 { Therefore, you must choose which of
these}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {areas are the
most important to your overall st}\fs24\cf0\f0\charscalex100 {rategy. You must be
noticeably different than}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {your competitors in one or more of these
four }\fs24\cf0\f0\charscalex100 {areas as it applies to your chosen circle
of}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {strategy.
Otherwise, creating a stra}\fs24\cf0\f0\charscalex100 {tegy is little more than
an }\fs24\cf0\f0\charscalex100 {interesting discussion that
will}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {have little or
no impact on th}\fs24\cf0\f0\charscalex100 {e success of your business.
As }\fs24\cf0\f0\charscalex100 {Michael Porter, a professor
at}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Harvard
University, once put it, }\fs24\cf0\f0\charscalex100 {\uc1\u8220XThe essence of
strategy is in}\fs24\cf0\f0\charscalex100 { the activities - choosing
to}\par\pard\li1133\ri0\sl-320\slmult0 \fs24\cf0\f0\charscalex100 {perform
activities differently or to pe}\fs24\cf0\f0\charscalex100 {rform different
activities than rivals.\uc1\u8221X}\fs16\cf0\f3\charscalex100
306\slmult0 \fs24\cf0\f0\charscalex100 {Simply put, achieving success in your
chosen st}\fs24\cf0\f0\charscalex100 {rategic focus (e.g. circle of strategy)
is}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {dependant upon
properly prioritizing headcount}\fs24\cf0\f0\charscalex100 {, cost, speed, and
quality, and then acting on}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {those priorities.}\par\pard\li1133\ri0\sl-
{\uc1\u8727X}\fs20\cf0\f0\charscalex100 { Michael Porter, Harvard Business Review,
November-December 1996,
p.64}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\c
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
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(1226,26);(1146,13);(1066,0);(986,0);(986,0);(986,0);}}
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1}}}}\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\margtsxn666\margbsxn173\cols2
\colno1\colw5413\colsr-0\colno2\colw6026\pard\li2000\ri0\sl-213\slmult0
440\slmult0 \fs24\cf0\f0\charscalex100\b {Success In:}\b0
\fs24\cf0\f0\charscalex100\b { }\b0 \par\column\pard\li0\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li0\ri0\sl-426\slmult0 \fs24\cf0\f0\charscalex100\b {Properly
Prioritizing:}\b0 \fs24\cf0\f0\charscalex100\b { }\b0
\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\cols3\
colno1\colw4280\colsr-0\colno2\colw1493\colsr-0\colno3\colw5666\pard\li2320\ri0\sl-
333\slmult0 \fs28\cf0\f0\charscalex100\b {MAIN}\b0 \par\pard\li1866\ri0\sl-
333\slmult0 \fs28\cf0\f0\charscalex100\b {STRATEGIC}\b0 \par\pard\li2186\ri0\sl-
320\slmult0 \fs28\cf0\f0\charscalex100\b {FOCUS}\b0 \par\column\pard\li0\ri0\sl-
{=}\par\column\pard\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-
\*\tx360\fs24\cf0\f3\charscalex100 {\uc1\u61623X}\tab \fs24\cf0\f0\charscalex100\b
{Headcount}\b0 \par\pard\li0\ri0\sl-306\slmult0 \*\tx360\fs24\cf0\f3\charscalex100
{\uc1\u61623X}\tab \fs24\cf0\f0\charscalex100\b {Cost}\b0 \par\pard\li0\ri0\sl-
\fs24\cf0\f0\charscalex100\b {Speed}\b0 \par\pard\li0\ri0\sl-306\slmult0
\*\tx360\fs24\cf0\f3\charscalex100 {\uc1\u61623X}\tab \fs24\cf0\f0\charscalex100\b
{Quality }\b0
\fs18\cf0\par\pard\li1133\ri0\sl-426\slmult0 \fs24\cf0\f0\charscalex100 {Perhaps
the best way to illustrate the }\fs24\cf0\f0\charscalex100 {importance of properly
focusing on the four}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{cornerstones is to look at how this may a}\fs24\cf0\f0\charscalex100 {pply to a
few successful businesses. Whether on}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {purpose or by accident, most successful
busines}\fs24\cf0\f0\charscalex100 {ses tend to focus on a specific circle
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {strategy and
then focus their efforts within }\fs24\cf0\f0\charscalex100 {that strategy by
properly }\fs24\cf0\f0\charscalex100 {prioritizing the
four}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {cornerstones
of business.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Let\uc1\u8217Xs look again at Jiffy
L}\fs24\cf0\f0\charscalex100 {ube, Wal-Mart, and Amazon.com as examples of
successful}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{companies who have used the four cornerstones in}\fs24\cf0\f0\charscalex100
{ order to get the most out of their chosen}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {strategies. What tradeoffs have these
three }\fs24\cf0\f0\charscalex100 {companies likely made in each of these
four}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {areas? What
are their priorities when it comes to cost, headcount, speed, and quality?
Let\uc1\u8217Xs}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{consider some possible scenarios.}\par\pard\li1133\ri0\sl-213\slmult0
following examples should help you to see how this works and to create a solid set
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {priorities that
support your company\uc1\u8217Xs chosen}\fs24\cf0\f0\charscalex100 { strategy.
Using a simple table format, as}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {illustrated below, we can discuss and compare how these
three companies might view the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {four cornerstones as they
appl}\fs24\cf0\f0\charscalex100 {y to their specific
strategy. }\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrs
xn133\cols5\colno1\colw3560\colsr-0\colno2\colw1440\colsr-0\colno3\colw1440\colsr-
0\colno4\colw1440\colsr-0\colno5\colw3560\pard\li1133\ri0\sl-213\slmult0
{Headcount}\b0 \par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-373\slmult0 \fs28\cf0\f0\charscalex100\b {Cost
(external)}\b0 \par\pard\li1133\ri0\sl-213\slmult0
{Speed}\b0 \par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
373\slmult0 \fs28\cf0\f0\charscalex100\b {Quality }\b0
346\slmult0 \fs24\cf0\f0\charscalex100\b {Least}\b0 \par\pard\li0\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100\b {Flexible}\b0
346\slmult0 \fs24\cf0\f0\charscalex100\b {Less}\b0 \par\pard\li0\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\b {Flexible}\b0 \par\column\pard\li160\ri0\sl-
\fs24\cf0\f0\charscalex100\b {More}\b0 \par\pard\li0\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\b {Most}\b0 \par\pard\li0\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\b {Flexible}\b0
{Here\uc1\u8217Xs how the table works: If a company is }\fs24\cf0\f0\charscalex100
{not allowed to hire another employee under any}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {circumstances (regardless of deadlines or
work}\fs24\cf0\f0\charscalex100 {load), then that company would place a
mark}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {in the
\uc1\u8220XHeadcount\uc1\u8221X row under
\uc1\u8220XLeas}\fs24\cf0\f0\charscalex100 {t Flexible.\uc1\u8221X On the other
hand, if hiring is no problem }\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {and the way in which a company solves
problems }\fs24\cf0\f0\charscalex100 {is almost always to throw more people
at}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {it, then that
company should put a mark in th}\fs24\cf0\f0\charscalex100 {e \uc1\u8220XMost
Flexible\uc1\u8221X column, indicating that
they}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\c
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
413\slmult0 \fs24\cf0\f0\charscalex100 {have a lot of freedom when it comes to
hiring ne}\fs24\cf0\f0\charscalex100 {w employees in order to achieve their
goals.}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Follow this
pattern for each of the othe}\fs24\cf0\f0\charscalex100 {r three areas (cost,
speed, and quality).}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {Sometimes
you must use a table similar to this }\fs24\cf0\f0\charscalex100 {one to assess
your customers\uc1\u8217X priorities prior}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {to accurately assessing your own internal
prioritie}\fs24\cf0\f0\charscalex100 {s. These two sets of priorities
don\uc1\u8217Xt always}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {match and there are differences in the way you
d}\fs24\cf0\f0\charscalex100 {eal with each one. In fact, the priorities
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {your customers
quite often don\uc1\u8217Xt match the intern}\fs24\cf0\f0\charscalex100 {al
priorities of your }\fs24\cf0\f0\charscalex100 {company. The
priorities}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {you need
to implement internally in order to }\fs24\cf0\f0\charscalex100 {fulfill the
prio}\fs24\cf0\f0\charscalex100 {rities of your customers
are}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {usually two
different sets of priorities. This di}\fs24\cf0\f0\charscalex100 {fference will be
illustrate}\fs24\cf0\f0\charscalex100 {d in the examples
{follow.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Using these tables we can analyze how each
of }\fs24\cf0\f0\charscalex100 {these companies focuses their efforts in
order}\par\pard\li1133\ri0\sl-306\slmult0 \fs24\cf0\f0\charscalex100 {to achieve
success in their chosen strategy.}\fs16\cf0\f3\charscalex100
\fs24\cf0\f0\charscalex100\b {Jiffy Lube Priorities}\b0
\fs24\cf0\f0\charscalex100 {For example, the priorities of Jiffy
Lube}\fs24\cf0\f0\charscalex100 {\uc1\u8217Xs customers may look something like
cols5\colno1\colw3466\colsr-0\colno2\colw1440\colsr-0\colno3\colw1440\colsr-
{Effort}\b0 \par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
373\slmult0 \fs28\cf0\f0\charscalex100\b {Cost (external)}\b0
{Quality }\b0 \par\column\pard\li266\ri0\sl-213\slmult0
{Most}\b0 \par\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\b
{Important}\b0 \par\pard\li440\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li440\ri0\sl-
{\uc1\u8730X}\par\column\pard\li253\ri0\sl-213\slmult0
{More}\b0 \par\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\b
{Important}\b0 \par\pard\li440\ri0\sl-480\slmult0 \fs36\cf0\f0\charscalex100
{Less}\b0 \par\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\b
\fs18\cf0\par\pard\li240\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100\b {Least}\b0
\par\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\b {Important}\b0
{\uc1\u8730X}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margr
453\slmult0 \fs24\cf0\f0\charscalex100 {Jiffy Lube customers tend to value speed
and convenience. With many of Jiffy Lube\uc1\u8217Xs}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {competitors a customer needs to drop their
car }\fs24\cf0\f0\charscalex100 {off and pick it up either later in the day
or}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {even on a
completely different day. The idea of}\fs24\cf0\f0\charscalex100 { driving in,
waiting about 10 minutes and then}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {driving out is very appealing to many people. Hence,
they are often willing to pay more for}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {these conveniences. While quality is important
to}\fs24\cf0\f0\charscalex100 { these customers, they tend to simply
expect }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {that their
oil will be changed properly, regard}\fs24\cf0\f0\charscalex100 {less of where they
go to get it done. It is}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {generally less of an issue when deciding
wh}\fs24\cf0\f0\charscalex100 {ere to get their oil changed. Hence,
while}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {important, it
is probably last on the list.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Because of
these priorities, Jiffy Lube\uc1\u8217Xs internal }\fs24\cf0\f0\charscalex100
{priorities, the things they need to do in order}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {to make their customers happy, may look
something like this:}\par\pard\li1133\ri0\sl-213\slmult0
{\uc1\u8727X}\fs20\cf0\f0\charscalex100 { It is possible that these three companies
see themselves}\fs20\cf0\f0\charscalex100 { very differently than
portr}\fs20\cf0\f0\charscalex100 {ayed in the analysis
that}\par\pard\li1133\ri0\sl-226\slmult0 \fs20\cf0\f0\charscalex100 {follows. These
comparisons are merely intended to illustrate}\fs20\cf0\f0\charscalex100 { how this
process works. They are not intended to }\par\pard\li1133\ri0\sl-226\slmult0
\fs20\cf0\f0\charscalex100 {reflect how these companies perceive
themselves.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrs
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
\colno1\colw3560\colsr-0\colno2\colw1440\colsr-0\colno3\colw1440\colsr-
360\slmult0 \fs28\cf0\f0\charscalex100\b {Headcount}\b0 \par\pard\li1133\ri0\sl-
\fs28\cf0\f0\charscalex100\b {Cost (external)}\b0 \par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100\b {Flexible}\b0 \par\pard\li346\ri0\sl-
373\slmult0 \fs36\cf0\f0\charscalex100 {\uc1\u8730X}\par\column\pard\li173\ri0\sl-
{Flexible}\b0 \par\pard\li346\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li346\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100\b {More}\b0 \par\pard\li0\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\b {Flexible}\b0 \par\pard\li346\ri0\sl-480\slmult0
\fs36\cf0\f0\charscalex100 {\uc1\u8730X}\par\column\pard\li173\ri0\sl-
453\slmult0 \fs24\cf0\f0\charscalex100 {When push comes to shove, what is Jiffy
Lube will}\fs24\cf0\f0\charscalex100 {ing to do or give up
in }\fs24\cf0\f0\charscalex100 {order to stay true to}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {their strategic focus? Let\uc1\u8217Xs
briefly analyze each }\fs24\cf0\f0\charscalex100 {of the four areas as they might
apply to Jiffy}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{Lube\uc1\u8217Xs overall internal strategy and the
specifi}\fs24\cf0\f0\charscalex100 {c activities they\uc1\u8217Xve
c}\fs24\cf0\f0\charscalex100 {hosen to support that}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {strategy.}\par\pard\li1493\ri0\sl-
{Speed:}\i0 \fs24\cf0\f0\charscalex100 { Remember that Jiffy Lube\uc1\u8217Xs main
strategy focuses on their products and}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {services (the first circle). Perhaps the
one }\fs24\cf0\f0\charscalex100 {thing that makes Jiffy Lube successful
is}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {that they
deliver their products and services}\fs24\cf0\f0\charscalex100 { quickly. The key
to Jiffy Lube\uc1\u8217Xs success}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {has been to focus on those products and
se}\fs24\cf0\f0\charscalex100 {rvices that can be provided to
their}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {customers
while they wait. If a product or se}\fs24\cf0\f0\charscalex100 {rvice
doesn\uc1\u8217Xt meet this requirement, then}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {it is unlikely to ever be offered at
Jiffy }\fs24\cf0\f0\charscalex100 {Lube. Speed is king at Jiffy Lube. All
other}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {decisions
regarding headcount, external cost}\fs24\cf0\f0\charscalex100 {, and quality take a
back seat to speed.}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{Again, this is not to say th}\fs24\cf0\f0\charscalex100 {at those other areas
aren\uc1\u8217Xt important. They are vital.}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {However, when deciding how to
structure,}\fs24\cf0\f0\charscalex100 { manage, and prioritize the activities
of}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {their business
in order to }\fs24\cf0\f0\charscalex100 {support their main strategy,
sp}\fs24\cf0\f0\charscalex100 {eed always wins. Literally}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {every product and service they provide is
fo}\fs24\cf0\f0\charscalex100 {cused on this goal of speed. This need
for}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {speed matches
and supports th}\fs24\cf0\f0\charscalex100 {eir basic strategy
of}\fs24\cf0\f0\charscalex100 { providing a unique set of
services}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {and the
thing that makes these services uni}\fs24\cf0\f0\charscalex100 {que is the speed at
which they can be}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{delivered. However, this means there will be a tradeoff regarding some or all of
the}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {other four
areas.}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100\i {Quality:}\i0 \fs24\cf0\f0\charscalex100 { To some
extent this is a black and white issue for Jiffy Lube. There must
be}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {a certain level
of quality because}\fs24\cf0\f0\charscalex100 { disastrous things happen
if }\fs24\cf0\f0\charscalex100 {a car runs out of oil.
It\uc1\u8217Xs}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {kind
of an all or nothing deal. If you do }\fs24\cf0\f0\charscalex100 {it right, the
customer notices nothing but}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {perhaps the speed and price. If you do
it }\fs24\cf0\f0\charscalex100 {incorrectly, major damage occurs to
{customer\uc1\u8217Xs car. This can be the death senten}\fs24\cf0\f0\charscalex100
{ce. Hence, Jiffy Lube has put a process in}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {place that is very good at checking
an}\fs24\cf0\f0\charscalex100 {d double-checking the work they
do. }\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {(Remember our
discussion earlier}\fs24\cf0\f0\charscalex100 { about the importance of
pr}\fs24\cf0\f0\charscalex100 {ocess in service-oriented}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {companies? Jiffy Lube is a good example
of }\fs24\cf0\f0\charscalex100 {this.) The next time you\uc1\u8217Xre at a
Jiffy}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Lube, wait by
your car and listen to them work}\fs24\cf0\f0\charscalex100 { on it.
You\uc1\u8217Xll notice }\fs24\cf0\f0\charscalex100 {that they\uc1\u8217Xre
always}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {yelling to
each other. Then there\uc1\u8217Xs the }\fs24\cf0\f0\charscalex100 {ominous
checklist they must fill out and go}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {over with each customer before they let you leave.
Quality must occur. But if a given}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {product or service takes
too }\fs24\cf0\f0\charscalex100 {long to achieve the
required }\fs24\cf0\f0\charscalex100 {quality, then it won\uc1\u8217Xt
be}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {offered at Jiffy
Lube. Hence, speed }\fs24\cf0\f0\charscalex100 {is a higher priority than
quality.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn1
\fs18\cf0\par\pard\li1133\ri0\sl-400\slmult0 \fs20\cf0\f0\charscalex100\i {The
Four Cornerstones of Business}\i0 \par\column\pard\li0\ri0\sl-213\slmult0
\fs24\cf0\f0\charscalex100\i {Headcount:}\i0 \fs24\cf0\f0\charscalex100 { Since
Jiffy Lube is basically a se}\fs24\cf0\f0\charscalex100 {rvice, there\uc1\u8217Xs
no way to get around}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{hiring people to perform that service. Mu}\fs24\cf0\f0\charscalex100 {ltiple
people usually touch each and every}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {car that comes to Jiffy Lube. Why?
There }\fs24\cf0\f0\charscalex100 {are probably two reasons. The first is
that}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {they
haven\uc1\u8217Xt figured out a }\fs24\cf0\f0\charscalex100 {way to automate the
servi}\fs24\cf0\f0\charscalex100 {ces they provide. The
second}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {involves the
fact that if onl}\fs24\cf0\f0\charscalex100 {y one person provided all of the
services offered it would}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {simply take too long. This would be in
di}\fs24\cf0\f0\charscalex100 {rect conflict with th}\fs24\cf0\f0\charscalex100
{eir main strategy of}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {speedy services. If it takes too long,
customer}\fs24\cf0\f0\charscalex100 {s won\uc1\u8217Xt return. Hence, they must
hire}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {more people to
achieve and maintain their strategic focus.}\par\pard\li1853\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1853\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {To combat
this problem, Jiffy Lube has cr}\fs24\cf0\f0\charscalex100 {eated a simple, easy to
learn process that}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{allows them to hire relatively low-paid }\fs24\cf0\f0\charscalex100 {employees
with limited experience or skills}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {and still provide sufficient quality to
produ}\fs24\cf0\f0\charscalex100 {ce repeat customers. I know this because
I}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {used to be one of
them. I worked at a Jiffy Lube store during my freshman year
in}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {college. I was
as unskilled and inexperien}\fs24\cf0\f0\charscalex100 {ced as they come. In fact,
I had never}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {changed
a car\uc1\u8217Xs oil before working at Jiffy}\fs24\cf0\f0\charscalex100 { Lube.
But the entire store was set up to}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {make life pretty easy for even a dummy like me. As a
result, cars come and go very}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {quickly with high-quality results. And
empl}\fs24\cf0\f0\charscalex100 {oyee turnaround really isn\uc1\u8217Xt a big
problem }\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {because
they can have the next new hire }\fs24\cf0\f0\charscalex100 {trained and up to
speed in practically no}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {time.}\par\pard\li1493\ri0\sl-213\slmult0
{4.}\tab \fs24\cf0\f0\charscalex100\i {External Cost:}\i0
\fs24\cf0\f0\charscalex100 { This is one of the tradeoffs Jiffy Lube makes in order
to succeed in}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {their
strategy. Have you ever noticed that}\fs24\cf0\f0\charscalex100 { Jiffy Lube
doesn\uc1\u8217Xt really produce any}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {products? Instead, other
compan}\fs24\cf0\f0\charscalex100 {ies produce the products
that }\fs24\cf0\f0\charscalex100 {Jiffy Lube either sells}\par\pard\li1853\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {or uses. Instead of Jiffy Lube brand
o}\fs24\cf0\f0\charscalex100 {il, you get Pennzoil or Quaker State,
or}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Valvoline. The
same is true for all of their }\fs24\cf0\f0\charscalex100 {other products such as
o}\fs24\cf0\f0\charscalex100 {il filters, air filters,}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {windshield wipers, etc. In
or}\fs24\cf0\f0\charscalex100 {der to support their main
stra}\fs24\cf0\f0\charscalex100 {tegy, Jiffy Lube has made
a}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {conscious
decision to pay a lot of money to }\fs24\cf0\f0\charscalex100 {a lot of external
partners. This allows}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {them to focus on and streamline their
serv}\fs24\cf0\f0\charscalex100 {ices rather than getting sidetracked
by}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {\uc1\u8220Xother
businesses.\uc1\u8221X This means that }\fs24\cf0\f0\charscalex100 {a good portion
of the revenue Jiffy Lube}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {generates goes to thei}\fs24\cf0\f0\charscalex100 {r
partners and vendors.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {This kind
of prioritization and th}\fs24\cf0\f0\charscalex100 {e activities that enforce it
a}\fs24\cf0\f0\charscalex100 {llow Jiffy Lube to
effectively}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {focus
on their main strategy of delivering spec}\fs24\cf0\f0\charscalex100 {ific products
and servic}\fs24\cf0\f0\charscalex100 {es. It is why their}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {strategy works. They are faster than
their }\fs24\cf0\f0\charscalex100 {competitors because their entire business
is}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {organized,
structured, and managed according to }\fs24\cf0\f0\charscalex100 {these priorities.
Whether they\uc1\u8217Xve defined it}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {in these specific terms or not, this is the
c}\fs24\cf0\f0\charscalex100 {ode by which the Jiffy
Lube}\fs24\cf0\f0\charscalex100 { world lives and dies.}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {Jiffy Lube fully understands that they will
lose}\fs24\cf0\f0\charscalex100 { a certain amount of ca}\fs24\cf0\f0\charscalex100
{r care business because}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {they don\uc1\u8217Xt do things that some or even
most }\fs24\cf0\f0\charscalex100 {of their competitors do. That\uc1\u8217Xs just
fine with}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {them
because the end result is a steady stream }\fs24\cf0\f0\charscalex100 {of repeat
customers who are often willing to}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {pay more at Jiffy Lube for the same services
th}\fs24\cf0\f0\charscalex100 {ey could get at the loca}\fs24\cf0\f0\charscalex100
{l car dealership just a}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {few blocks
away.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\
of Business}\i0
ect\sectd\sbkpage
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413\slmult0 \fs24\cf0\f0\charscalex100\b \ul {Wal-Mart Priorities}\b0 \ul0
\fs24\cf0\f0\charscalex100 {Needless to say, Wal-Mart\uc1\u8217Xs target customers
will }\fs24\cf0\f0\charscalex100 {have a fairly different set of priorities
than}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Jiffy
Lube\uc1\u8217Xs customers. The priorities of Wal-}\fs24\cf0\f0\charscalex100 {Mart
customers might look something like
453\slmult0 \fs24\cf0\f0\charscalex100 {The biggest issue for most Wal-Mart
customer}\fs24\cf0\f0\charscalex100 {s is usually cost.
Wal-}\fs24\cf0\f0\charscalex100 {Mart generally sells}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {things for a pretty good price.
Th}\fs24\cf0\f0\charscalex100 {e next biggest value is
often }\fs24\cf0\f0\charscalex100 {effort or convenience. When
I}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {go to a Wal-Mart
I can usually find most things}\fs24\cf0\f0\charscalex100 { I\uc1\u8217Xm looking
for all in }\fs24\cf0\f0\charscalex100 {one place rather
than}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {running around
to a few different stores to get th}\fs24\cf0\f0\charscalex100 {e same items. Speed
is next and deals mostly}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {with how long it takes me at the check out
line}\fs24\cf0\f0\charscalex100 {. Last, while customers expect to find
most}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {things
they\uc1\u8217Xre looking for at a r}\fs24\cf0\f0\charscalex100 {easonable price,
they generally }\fs24\cf0\f0\charscalex100 {don\uc1\u8217Xt expect to find top of
the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {line products
at Wal-Mart. They expect to find }\fs24\cf0\f0\charscalex100 {good or adequate
product}\fs24\cf0\f0\charscalex100 {s, but not the best}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {that are
available.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Given these values of their target
customers }\fs24\cf0\f0\charscalex100 {and the nature of their business, Wal-
Mart\uc1\u8217Xs}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{internal priorities will also be fairly different}\fs24\cf0\f0\charscalex100
{ than Jiffy Lube\uc1\u8217Xs. Wal-Mart\uc1\u8217Xs internal
table}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {might look
something like
\fs24\cf0\f0\charscalex100\b {Less}\b0 \par\pard\li0\ri0\sl-280\slmult0
{Flexible}\b0 \par\pard\li346\ri0\sl-480\slmult0 \fs36\cf0\f0\charscalex100
453\slmult0 \fs24\cf0\f0\charscalex100 {Wal-Mart executives may object to this
priori}\fs24\cf0\f0\charscalex100 {tization at first,
but }\fs24\cf0\f0\charscalex100 {only because nobody wants}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {to say that the quality of
their }\fs24\cf0\f0\charscalex100 {products is the most flexible
of }\fs24\cf0\f0\charscalex100 {these four categories. But
when}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {viewed as
tradeoffs, allowing only one checkmark in each column, this becomes
an}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {interesting
exercise for Wal-Mart. (As it doe}\fs24\cf0\f0\charscalex100 {s for every company,
including yours.) When}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {push comes to shove, what is Wal-Mart willing
to}\fs24\cf0\f0\charscalex100 { sacrifice in order to}\fs24\cf0\f0\charscalex100
{ stay true to
their}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\
\fs18\cf0\par\pard\li1133\ri0\sl-320\slmult0 \fs20\cf0\f0\charscalex100\i {The Four
Cornerstones of Business}\i0 \par\column\pard\li0\ri0\sl-213\slmult0
{Page 31}\i0
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {strategic
focus of meeting the }\fs24\cf0\f0\charscalex100 {needs of budget customers?
The }\fs24\cf0\f0\charscalex100 {following statements seem
to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {be basically
true:}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100\i {Speed:}\i0 \fs24\cf0\f0\charscalex100 { It may sound
strange to make speed le}\fs24\cf0\f0\charscalex100 {ast flexible for Wal-Mart.
However,}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Wal-Mart
must be able to buy, categorize, }\fs24\cf0\f0\charscalex100 {and accurately
ship }\fs24\cf0\f0\charscalex100 {large quantities of}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {many different kinds of products quickly
a}\fs24\cf0\f0\charscalex100 {nd cheaply enough to have all of
their}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {stores remain
stocked on a regular basis.}\fs24\cf0\f0\charscalex100 { That\uc1\u8217Xs no easy
task. Wal-Mart has spent}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {massive amounts of money to streamline
this }\fs24\cf0\f0\charscalex100 {process. It seems reasonable to
assume }\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {that much
of the motivation behind thei}\fs24\cf0\f0\charscalex100 {r expensive distribution
systems was to}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{increase the speed at which so many different}\fs24\cf0\f0\charscalex100
{ products could be }\fs24\cf0\f0\charscalex100 {efficiently
processed}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {through
their system. Their ability to accomplis}\fs24\cf0\f0\charscalex100 {h this is one
of their great competitive}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {advantages and allows them to focus on
thei}\fs24\cf0\f0\charscalex100 {r primary strategy of meeting the needs
of }\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the budget
customer. Most studies that deal}\fs24\cf0\f0\charscalex100 { with why Wal-
Mart }\fs24\cf0\f0\charscalex100 {is successful will}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {include some discussion of this internal
sy}\fs24\cf0\f0\charscalex100 {stem they\uc1\u8217Xve created and how it saves them
}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {so much time and
effort.}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100\i {External Cost:}\i0 \fs24\cf0\f0\charscalex100 { This
is a tough one. Wal-Mart seem}\fs24\cf0\f0\charscalex100 {s absolutely unwilling to
spend a}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {lot of
money to buy and sell expensive, }\fs24\cf0\f0\charscalex100 {high-end products.
However, as mentioned}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {above, they have invested
massive }\fs24\cf0\f0\charscalex100 {amounts of money buying
sophisticated}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{distribution systems for their warehouses.
I\uc1\u8217Xm}\fs24\cf0\f0\charscalex100 { told that Wal-Mart didn\uc1\u8217Xt
necessarily}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {develop
these systems themselves. They c}\fs24\cf0\f0\charscalex100 {ontracted with
external firms (hence,}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {external cost) to do this for them. There are multiple
benefits to such systems, not the}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {least of which are reduced headcount
in}\fs24\cf0\f0\charscalex100 { their warehouses and greater speed
of}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {delivery to
their retail stores. In additi}\fs24\cf0\f0\charscalex100 {on, Wal-Mart obviously
sells massive amounts}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {of products created by other companies
rath}\fs24\cf0\f0\charscalex100 {er than their own internally
produced}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {product
lines. Hence a large part of their }\fs24\cf0\f0\charscalex100 {revenue goes to
these other companies or}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {vendors.}\par\pard\li1853\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1853\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {I could
see Wal-Mart strategists choosing to }\fs24\cf0\f0\charscalex100 {make this
category more flexible than I}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {have indicated. But I probably wouldn\uc1\u8217Xt place
}\fs24\cf0\f0\charscalex100 {at either extreme of the table.
However,}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {I might
switch headcount and cost in th}\fs24\cf0\f0\charscalex100 {e table above.
Remember, we\uc1\u8217Xre no longer}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {talking about what their st}\fs24\cf0\f0\charscalex100
{rategy is (e.g. budget customers). We\uc1\u8217Xre now talking
about}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {how
they\uc1\u8217Xre going to implement or execute}\fs24\cf0\f0\charscalex100 { on
that strategy. Hence, cost may be}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {prioritized differently for their target
customer}\fs24\cf0\f0\charscalex100 {s than it is for their internal process
that}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {delivers that
strategy }\fs24\cf0\f0\charscalex100 {to those customers.}\par\pard\li1493\ri0\sl-
{Headcount:}\i0 \fs24\cf0\f0\charscalex100 { In order to run the world\uc1\u8217Xs
largest ch}\fs24\cf0\f0\charscalex100 {ain of retail
stores}\fs24\cf0\f0\charscalex100 { in the manner in}\par\pard\li1853\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {which they have chosen to run them, each
st}\fs24\cf0\f0\charscalex100 {ore using humans to interact directly
with}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {customers,
you\uc1\u8217Xve got to be willing to hire}\fs24\cf0\f0\charscalex100 { and pay a
lot of people. Have you noticed}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {that even with all of the }\fs24\cf0\f0\charscalex100
{people who shop at Wal-Mart, you seldom have to wait in}\par\pard\li1853\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {line for very long? Even with the new self-
c}\fs24\cf0\f0\charscalex100 {heckout lines, they al}\fs24\cf0\f0\charscalex100
{ways seem to have}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{enough human checkers to handle the load. Re}\fs24\cf0\f0\charscalex100 {latively
speaking, Wa}\fs24\cf0\f0\charscalex100 {l-Mart seems to}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {be fairly flexible when it comes to
headcount issues.}\par\pard\li1493\ri0\sl-213\slmult0
{4.}\tab \fs24\cf0\f0\charscalex100\i {Quality:}\i0 \fs24\cf0\f0\charscalex100
{ There\uc1\u8217Xs probably not a soul on earth th}\fs24\cf0\f0\charscalex100 {at
believes Wal-Ma}\fs24\cf0\f0\charscalex100 {rt sells high-
end,}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {top quality
products on a regular basis. This }\fs24\cf0\f0\charscalex100 {is one of the
main }\fs24\cf0\f0\charscalex100 {reasons they can
sell}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\c
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413\slmult0 \fs24\cf0\f0\charscalex100 {things so cheaply. Don\uc1\u8217Xt
misunderstand these }\fs24\cf0\f0\charscalex100 {priorities. I\uc1\u8217Xm not
saying that Wal-Mart}\par\pard\li1853\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100
{sells junk. Far from it. I shop there all the tim}\fs22\cf0\f0\charscalex100 {e
and am usually very satisfied with my }\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {purchases. But I know what to expect
when}\fs24\cf0\f0\charscalex100 { I shop there and that\uc1\u8217Xs okay with
me.}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Evidently
it\uc1\u8217Xs okay with millions of othe}\fs24\cf0\f0\charscalex100 {r customers
who shop there as well. Wal-}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {Mart\uc1\u8217Xs quality is fine for their target
cu}\fs24\cf0\f0\charscalex100 {stomers. If it weren\uc1\u8217Xt, people would
stop}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {shopping
there. However, if I want an}\fs24\cf0\f0\charscalex100 { Armani suit or a $5,000
watch I\uc1\u8217Xll go}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {elsewhere. And both Wal-
Mart }\fs24\cf0\f0\charscalex100 {and I are fine with
that.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {This kind of prioritization of the four
corner}\fs24\cf0\f0\charscalex100 {stones to internal success allows Wal-Mart
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {focus on their
main strategy of targeting the budg}\fs24\cf0\f0\charscalex100 {et customer. It is
why their strategy works.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {Their entire business is organized and
managed }\fs24\cf0\f0\charscalex100 {according to these priorities and the
actions}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {or
activities that reinforce them.}\par\pard\li1133\ri0\sl-213\slmult0
373\slmult0 \fs24\cf0\f0\charscalex100\b {Amazon.com Priorities}\b0
\fs24\cf0\f0\charscalex100 {Not surprisingly, Amazon.com\uc1\u8217Xs target
customer}\fs24\cf0\f0\charscalex100 {s tend to value
reduced}\fs24\cf0\f0\charscalex100 { effort more than}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {anything else. The priorities of
Amazon.com\uc1\u8217Xs}\fs24\cf0\f0\charscalex100 { customers might look something
like
453\slmult0 \fs24\cf0\f0\charscalex100 {The reason most people shop at Amazon.com
is b}\fs24\cf0\f0\charscalex100 {ecause it is so easy.
It }\fs24\cf0\f0\charscalex100 {requires very little}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {effort to get what you want at
Amazon.com }\fs24\cf0\f0\charscalex100 {and most of their customers don\uc1\u8217Xt
mind paying}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {an
additional shipping fee in or}\fs24\cf0\f0\charscalex100 {der to get that
convenience. Speed and cost are likely next on}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {the list and probably vary from customer to
}\fs24\cf0\f0\charscalex100 {customer. They may be interchangeable on
this}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {table
depending on the specific customer. Quality is}\fs24\cf0\f0\charscalex100 { last
simply because, like Jiffy Lube, it is}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {expected. If Amazon.com only sold used items
th}\fs24\cf0\f0\charscalex100 {en this might change. But the quality of
a}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {book at
amazon.com will likely be pretty much the same as the same book purchased at
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {local
bookstore. Hence it is not really a de}\fs24\cf0\f0\charscalex100 {termining factor
when considering where to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {purchase
it.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\co
\fs18\cf0\par\pard\li1133\ri0\sl-240\slmult0 \fs20\cf0\f0\charscalex100\i {The Four
Cornerstones of Business}\i0 \par\column\pard\li0\ri0\sl-213\slmult0
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
413\slmult0 \fs24\cf0\f0\charscalex100 {Given these customer priorities, what might
thei}\fs24\cf0\f0\charscalex100 {r internal priorities }\fs24\cf0\f0\charscalex100
{look like? They may look}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {something like
\fs36\cf0\f0\charscalex100 {\uc1\u8730X}\par\column\pard\li160\ri0\sl-
453\slmult0 \fs24\cf0\f0\charscalex100 {Here\uc1\u8217Xs my reasoning. See if you
would agree or disagree.}\par\pard\li1493\ri0\sl-213\slmult0
{1.}\tab \fs24\cf0\f0\charscalex100\i {Speed:}\i0 \fs24\cf0\f0\charscalex100
{ Interestingly enough, speed is also }\fs24\cf0\f0\charscalex100 {vital for
Amazon.com. (Just so you know,}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {it doesn\uc1\u8217Xt always turn out this way. Your
bus}\fs24\cf0\f0\charscalex100 {iness may have speed as a relatively
low}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {priority.) They
go to great lengths to get your}\fs24\cf0\f0\charscalex100 { purchase to you
as }\fs24\cf0\f0\charscalex100 {quickly as possible.}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {Why? Because they know you can go down
to }\fs24\cf0\f0\charscalex100 {the local bookstore and have it today
if }\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {you want to.
For the customer, decreased speed is the tradeoff for decreased effort
on}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {their part. If
you need it today, Amazom.com is}\fs24\cf0\f0\charscalex100 { a poor choice. But if
your priority is}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{buying your favorite book with the least am}\fs24\cf0\f0\charscalex100 {ount of
effort, Amazon.com is a great}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {choice. Hence, they must try to
compen}\fs24\cf0\f0\charscalex100 {sate for these tradeoffs. Amazon.com
must}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {heavily target
those customers who aren\uc1\u8217Xt }\fs24\cf0\f0\charscalex100 {sure what they
value the most, speed or}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {effort. The faster they can get you your
book, }\fs24\cf0\f0\charscalex100 {the less of an issue this is. This
makes}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {speed of
delivery an extremely high prio}\fs24\cf0\f0\charscalex100 {rity for Amazon.com.
Their entire process}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{has been automated and streamlined to }\fs24\cf0\f0\charscalex100 {accomplish this
goal as a key element of}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {successfully implementing their
\fs24\cf0\f0\charscalex100\i {Headcount:}\i0 \fs24\cf0\f0\charscalex100 { I put
headcount or intern}\fs24\cf0\f0\charscalex100 {al effort as next on their list of
priorities. I\uc1\u8217Xm }\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {guessing that one of the great
advantages }\fs24\cf0\f0\charscalex100 {of Amazon.com\uc1\u8217Xs strategy is that
they}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {require
relatively few people }\fs24\cf0\f0\charscalex100 {to interface with their
custom}\fs24\cf0\f0\charscalex100 {ers. Due to their
Internet}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {focus,
they have become very good at au}\fs24\cf0\f0\charscalex100 {tomating every
purchase. Instead of a bunch}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {of people manning a long line of cash
re}\fs24\cf0\f0\charscalex100 {gisters, Amazon.com has an
automated,}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {online
interface that quickly takes your order,}\fs24\cf0\f0\charscalex100 { your payment,
and routes everything to}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {all the right places to be fulfilled as
quickl}\fs24\cf0\f0\charscalex100 {y as possible. The more they can
automate,}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the more
profitable they will be as a comp}\fs24\cf0\f0\charscalex100 {any. Their chosen
strategy lends itself to}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {this activity very well.}\par\pard\li1493\ri0\sl-
{Quality:}\i0 \fs24\cf0\f0\charscalex100 { I put quality in the third position. I
di}\fs24\cf0\f0\charscalex100 {d this mostly because of how it
seems}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {to compare
with headcount and external costs rather than on any
specific}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{measurement of product quality itself. The }\fs24\cf0\f0\charscalex100 {quality of
their products seems a bit}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {subjective and seems to vary greatly. I
doubt}\fs24\cf0\f0\charscalex100 { that Amazon.com spends a lot of
time}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {examining the
quality of a book\uc1\u8217Xs binding }\fs24\cf0\f0\charscalex100 {or looking at
how high some piece of}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {music has scored on the pop charts. They do
se}\fs24\cf0\f0\charscalex100 {em to regulate content to some
degree,}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn13
of Business}\i0
\fs18\cf0\par\pard\li1853\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {such as
pornographic materials. (Certainly }\fs24\cf0\f0\charscalex100 {they could make
more money in this area}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {if they chose to do so. They chose not to do so. Good
for them!) However, with few}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {restrictions, if people
want }\fs24\cf0\f0\charscalex100 {to buy it,
Amazon.com will sell }\fs24\cf0\f0\charscalex100 {it. Because of this I
felt}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {that quality
seemed to be more flexible than}\fs24\cf0\f0\charscalex100 { internal headcount,
but}\fs24\cf0\f0\charscalex100 { not as flexible as}\par\pard\li1853\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {external cost.}\par\pard\li1493\ri0\sl-
\*\tx1853\fs24\cf0\f0\charscalex100 {4.}\tab \fs24\cf0\f0\charscalex100\i {External
Cost:}\i0 \fs24\cf0\f0\charscalex100 { Think about all of
the }\fs24\cf0\f0\charscalex100 {external costs that must occur in order
for}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Amazon.com to
buy, warehouse, and ship the }\fs24\cf0\f0\charscalex100 {products they sell.
Similar to Jiffy}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{Lube, they really don\uc1\u8217Xt produce any produc}\fs24\cf0\f0\charscalex100
{ts themselves. They make a living by}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {selling other people\uc1\u8217Xs products. In
additi}\fs24\cf0\f0\charscalex100 {on, they are not a shipping company
like}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Federal
Express or UPS. That\uc1\u8217Xs not their }\fs24\cf0\f0\charscalex100 {business.
And yet they offer free shipping}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {specials all the time. Who pays for
that? }\fs24\cf0\f0\charscalex100 {In the end, it seems that Amazon.com
is}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {willing to pay a
lot to third party companies }\fs24\cf0\f0\charscalex100 {in order to fulfill their
main strategy of }\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{efficiently accessing their customers via the Internet.}\par\pard\li1133\ri0\sl-
{These are some of the tradeoffs that Amaz}\fs24\cf0\f0\charscalex100 {on.com
likely makes based on their chosen}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {strategy. In order to be successful, they
must}\fs24\cf0\f0\charscalex100 { accept these tradeoffs and focus on
streamlining}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {their
entire business around their strategic dire}\fs24\cf0\f0\charscalex100 {ction. If
they don\uc1\u8217Xt, th}\fs24\cf0\f0\charscalex100 {ey\uc1\u8217Xll end up
focusing on}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the
wrong priorities and will ev}\fs24\cf0\f0\charscalex100 {entually lose
346\slmult0 \fs24\cf0\f0\charscalex100 {It would be interesting to
s}\fs24\cf0\f0\charscalex100 {ee if Jiffy Lube, Wal-Mart, and Amazon.com would
agree with}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {my
assessment of their busin}\fs24\cf0\f0\charscalex100 {esses. Maybe someday
I\uc1\u8217Xll ge}\fs24\cf0\f0\charscalex100 {t the chance to ask
them.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {The entire goal of outlining the priorities
of }\fs24\cf0\f0\charscalex100 {these companies was to explain how this
process}\par\pard\li1133\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {works and
to help you to accurately assess the }\fs22\cf0\f0\charscalex100 {priorities of
your busines}\fs22\cf0\f0\charscalex100 {s. You should now
be}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {able to give
some serious t}\fs24\cf0\f0\charscalex100 {hought to your business as it
pertai}\fs24\cf0\f0\charscalex100 {ns to the three circles
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {strategy and the
priorities that}\fs24\cf0\f0\charscalex100 { will support your chosen
strate}\fs24\cf0\f0\charscalex100 {gy. The exercise in the
next}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {section will
help you to apply these principles }\fs24\cf0\f0\charscalex100 {to your own
business. I encourage you to try}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {this exercise rather than
just}\fs24\cf0\f0\charscalex100 { read through it. I guarantee
you\uc1\u8217Xll }\fs24\cf0\f0\charscalex100 {find great rewards at the
other}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {end of this
experience.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\b \i {Identifying Corporate Priorities}\b0 \i0
\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {If our four
cornerstones are as}\fs24\cf0\f0\charscalex100 { important to the success of
your}\fs24\cf0\f0\charscalex100 { business as I have
suggested,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {then it
is vital that you and your management team are working from the same page
with}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {regard to
these four elements. In this section }\fs24\cf0\f0\charscalex100 {we\uc1\u8217Xll
try to define your company\uc1\u8217Xs view of cost,}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {headcount, speed, and quality and show you
how to}\fs24\cf0\f0\charscalex100 { engage in meaningf}\fs24\cf0\f0\charscalex100
{ul discussions with}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{your team members in order to achieve the be}\fs24\cf0\f0\charscalex100 {st
possible results. If done properly, this}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {exercise will dramatically increase your
pr}\fs24\cf0\f0\charscalex100 {obability for success by focusing your efforts
on}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {those aspects of
your business }\fs24\cf0\f0\charscalex100 {that are most
important.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {As already mentioned, the problem with our
four }\fs24\cf0\f0\charscalex100 {cornerstones is that
yo}\fs24\cf0\f0\charscalex100 {u simply can\uc1\u8217Xt have
it}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {all. It is vital
that you accept }\fs24\cf0\f0\charscalex100 {the fact that there are
tradeoffs }\fs24\cf0\f0\charscalex100 {involved with
each}\fs24\cf0\f0\charscalex100 { of these areas}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {\uc1\u8211X that external cost, internal
headcount, sp}\fs24\cf0\f0\charscalex100 {eed to market, and
produc}\fs24\cf0\f0\charscalex100 {t quality play against}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {themselves in very frustrating ways. You
mu}\fs24\cf0\f0\charscalex100 {st acknowledge that the more success you
have}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {with one the
less success you\uc1\u8217Xre likely to have with the
others.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn13
466\slmult0 \fs24\cf0\f0\charscalex100 {In most cases you\uc1\u8217Xll need to
choose between }\fs24\cf0\f0\charscalex100 {the four cornerstones. The chances of
your}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {business
becoming a booming success because it is}\fs24\cf0\f0\charscalex100 { the lowest
cost, least effort, quickest}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {speed, and highest quality of any of your
compe}\fs24\cf0\f0\charscalex100 {titors are very slim. I dare say that this
is}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {almost
impossible to do in the competitive }\fs24\cf0\f0\charscalex100 {economy in which
we live today. Companies}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {often die because they try to
be }\fs24\cf0\f0\charscalex100 {all things to all people and it
can\uc1\u8217Xt}\fs24\cf0\f0\charscalex100 { be done. But to be the
best}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {in one or two
of these four areas is usually }\fs24\cf0\f0\charscalex100 {very possible and
provides }\fs24\cf0\f0\charscalex100 {you with a
significant}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{competitive advantage.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {If
you\uc1\u8217Xve been in business for very long }\fs24\cf0\f0\charscalex100
{you\uc1\u8217Xve undoubtedly heard your employees make}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {some or all of the following kinds of
remarks:}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\i {\uc1\u8220XYou can have it this week
without the features y}\i0 \fs24\cf0\f0\charscalex100\i {ou want or next month with
the features you}\i0 \par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\i
{want, but you can\uc1\u8217Xt have it this w}\i0 \fs24\cf0\f0\charscalex100\i
{eek with the features you want.\uc1\u8221X}\i0 \par\pard\li1133\ri0\sl-213\slmult0
{\uc1\u8220XSure you can have a product like that next mont}\i0
\fs24\cf0\f0\charscalex100\i {h. All I need is twic}\i0
\fs24\cf0\f0\charscalex100\i {e as many employees}\i0 \par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100\i {than I currently have in my
department.\uc1\u8221X}\i0 \par\pard\li1133\ri0\sl-213\slmult0
{\uc1\u8220XIn order to meet that deadline without hiri}\i0
\fs24\cf0\f0\charscalex100\i {ng new employees I\uc1\u8217Xll need to hire some}\i0
\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {temporary
contractors who will cost us more in the short term.\uc1\u8221X}\i0
\fs24\cf0\f0\charscalex100 {These kinds of decisions tend to kill
companie}\fs24\cf0\f0\charscalex100 {s that haven\uc1\u8217Xt taken the time to
properly}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {prioritize
the four cornerstones of business as }\fs24\cf0\f0\charscalex100 {they apply to
their c}\fs24\cf0\f0\charscalex100 {hosen strategy. Unless
you}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {know what your
priorities are in}\fs24\cf0\f0\charscalex100 { these four areas and unless
your}\fs24\cf0\f0\charscalex100 { entire management team
is}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {working with the
same understanding that you }\fs24\cf0\f0\charscalex100 {have, you\uc1\u8217Xre in
for big trouble. You\uc1\u8217Xd be}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {surprised how many companies are working
at }\fs24\cf0\f0\charscalex100 {cross-purposes simply because
{departments have different pr}\fs24\cf0\f0\charscalex100 {iorities when it comes
to head}\fs24\cf0\f0\charscalex100 {count, cost, speed, and
quality.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {The following exercise will help you assess
your company\uc1\u8217Xs real priorities and make sure}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {your managers are not working at cross-
pur}\fs24\cf0\f0\charscalex100 {poses. I\uc1\u8217Xve done this exercise dozens,
maybe}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {even hundreds
of times with al}\fs24\cf0\f0\charscalex100 {l kinds of businesses and
it }\fs24\cf0\f0\charscalex100 {always leads to a
revealing}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{discussion among managers. It is simple and it }\fs24\cf0\f0\charscalex100
{doesn\uc1\u8217Xt take very long. However, the ensuing}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {discussion may take a while. This is a good
thi}\fs24\cf0\f0\charscalex100 {ng! I highly recommend }\fs24\cf0\f0\charscalex100
{that you try it in one}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {of your upcoming managers meetings. Or, better
ye}\fs24\cf0\f0\charscalex100 {t, set apart a special }\fs24\cf0\f0\charscalex100
{meeting just for this}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {exercise and the discussion that will inevitably
follow.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn13
ect\sectd\sbkpage
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413\slmult0 \fs24\cf0\f0\charscalex100\i {EXERCISE: Assessing Your
Priorities}\i0 \par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{Create two simple tables in your word proce}\fs24\cf0\f0\charscalex100 {ssor. The
first is intended to highlight the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {priorities of your target
customers }\fs24\cf0\f0\charscalex100 {and should look something like
{Customers\uc1\u8217X}\b0 \par\pard\li1546\ri0\sl-320\slmult0
\fs28\cf0\f0\charscalex100\b {Priorities}\b0 \par\pard\li1133\ri0\sl-440\slmult0
\fs24\cf0\f0\charscalex100\b {Effort}\b0 \par\pard\li1133\ri0\sl-213\slmult0
386\slmult0 \fs24\cf0\f0\charscalex100\b {Most}\b0 \par\pard\li0\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\b {Important}\b0 \par\column\pard\li253\ri0\sl-
\fs24\cf0\f0\charscalex100\b {Least}\b0 \par\pard\li0\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\b {Important}\b0
\fs18\cf0\par\pard\li1133\ri0\sl-293\slmult0 \fs24\cf0\f0\charscalex100 {The second
table will be used for indicting your in}\fs24\cf0\f0\charscalex100 {ternal
priorities \uc1\u8211X what you need to do in}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {order to deliver the wants and needs of
your targ}\fs24\cf0\f0\charscalex100 {et customers. Be sure to change the
word}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{\uc1\u8220XEffort\uc1\u8221X in the first table to the word
\uc1\u8220XHead}\fs24\cf0\f0\charscalex100 {count\uc1\u8221X in the second table.
The second table}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{should look like
{Company }\b0 \par\pard\li1546\ri0\sl-320\slmult0 \fs28\cf0\f0\charscalex100\b
{Priorities}\b0 \par\pard\li1133\ri0\sl-440\slmult0 \fs24\cf0\f0\charscalex100\b
280\slmult0 \fs24\cf0\f0\charscalex100\b {Flexible}\b0
386\slmult0 \fs24\cf0\f0\charscalex100\b {Less}\b0 \par\pard\li0\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\b {Flexible}\b0
\fs18\cf0\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Make
copies for each member of your management team and ask them first to place
one}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {mark in each
column of the customers\uc1\u8217X prio}\fs24\cf0\f0\charscalex100 {rity table to
indicate how they feel your}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {customers would rank the importance of each
of}\fs24\cf0\f0\charscalex100 { the four cornerstones when buying the
types}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {of products
and services you sell. Remember to}\fs24\cf0\f0\charscalex100 { focus on your
specific customer set, not your}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {competitors\uc1\u8217X. What do your customers value
th}\fs24\cf0\f0\charscalex100 {e most and why will they buy your
solutions}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {instead
of your competitors\uc1\u8217X solution? }\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {When
finished, do the same thing for your comp}\fs24\cf0\f0\charscalex100
{any\uc1\u8217Xs internal priorities. Ask your managers}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {to indicate what your
company\uc1\u8217Xs }\fs24\cf0\f0\charscalex100 {current priorities
are }\fs24\cf0\f0\charscalex100 {in the areas of headcount, cost,
speed,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {and quality.
For example, if they are not }\fs24\cf0\f0\charscalex100 {allowed to hire another
employee under any}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{circumstances in order to meet the wants }\fs24\cf0\f0\charscalex100 {and needs of
your customers (regardless of}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {deadlines, workload, or
desired }\fs24\cf0\f0\charscalex100 {quality), then they should
pl}\fs24\cf0\f0\charscalex100 {ace a mark in the
\uc1\u8220XHeadcount\uc1\u8221X}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {row under \uc1\u8220XLeast Flexible.\uc1\u8221X On the
other hand, if}\fs24\cf0\f0\charscalex100 { hiring is no problem and the way in
which}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {your company
solves problems is almost always }\fs24\cf0\f0\charscalex100 {to hire more people,
then they should put
a}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\cols
{Page 37}\i0
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {mark in
the \uc1\u8220XMost Flexible\uc1\u8221X column, indicati}\fs24\cf0\f0\charscalex100
{ng that they have a lot of freedom when it}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {comes to hiring new employees. Then instruct your team
to do the same for each of the other}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {three categories, choosing the column that
be}\fs24\cf0\f0\charscalex100 {st describes how they think the company
views}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {each area
relative to }\fs24\cf0\f0\charscalex100 {the other three.}\par\pard\li1133\ri0\sl-
{Before they start, here are the rules: }\par\pard\li1493\ri0\sl-213\slmult0
{1.}\tab \fs24\cf0\f0\charscalex100\i {They are only allowed to put one mark in
each column.}\i0 { }\fs24\cf0\f0\charscalex100 {Remember, these
are}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {tradeoffs. You
can\uc1\u8217Xt have it all and you cannot}\fs24\cf0\f0\charscalex100 { be all
things to }\fs24\cf0\f0\charscalex100 {all people. The
purpose}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {of this
exercise is to force you to compar}\fs24\cf0\f0\charscalex100 {e each category
against the others. For most}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {companies this is a fairly difficult thing to
333\slmult0
\*\tx1853\fs24\cf0\f0\charscalex100 {2.}\tab \fs24\cf0\f0\charscalex100\i {They
are not allowed to discuss, show, or share their views with anyone else on
the}\i0 \par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {team.}\i0
{ }\fs24\cf0\f0\charscalex100 {At this point this should be an
indepe}\fs24\cf0\f0\charscalex100 {ndent survey that is not influenced
by}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {anyone else.
There should be no talking at }\fs24\cf0\f0\charscalex100 {all during this portion
of the exercise.}\par\pard\li1133\ri0\sl-213\slmult0
should only take each pers}\fs24\cf0\f0\charscalex100 {on a few minutes to
complete. He}\fs24\cf0\f0\charscalex100 {re are a few things to
watch}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{for: }\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {When filling out the customer table, the
ba}\fs24\cf0\f0\charscalex100 {sic question they\uc1\u8217Xre trying to answer
is,}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {\uc1\u8220XWhy
will potential customers choose our }\fs24\cf0\f0\charscalex100 {products and
services instead of our}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {competitors\uc1\u8217X.\uc1\u8221X If you have no
competitors (}\fs24\cf0\f0\charscalex100 {unlikely) then the question should
deal}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {with why they
would buy your products and serv}\fs24\cf0\f0\charscalex100 {ices at all. Is there
even a market for}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{your offerings? What pains do your solutions solve? }\par\pard\li1493\ri0\sl-
{Some employees may feel that the tables }\fs22\cf0\f0\charscalex100 {should
match \uc1\u8211X that the company\uc1\u8217Xs priorities}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {should be the same as the
customer\uc1\u8217Xs priori}\fs24\cf0\f0\charscalex100 {ties. While it is possible
that this will be }\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{the case for some businesses, it is by no means a forgone conclusion. As
illustrated by}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the
examples of Jiffy Lube, Wal-Mart, a}\fs24\cf0\f0\charscalex100 {nd Amazon.com
mentioned earlier, customer}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {priorities and internal
priori}\fs24\cf0\f0\charscalex100 {ties are two different things. The first
indicates what your}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{customers value and the second deals with}\fs24\cf0\f0\charscalex100 { what
actions you need to take as a}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {company in order to provide that value to your
customers. If this becomes an issue}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {have your managers review the
examples }\fs24\cf0\f0\charscalex100 {of Jiffy Lube, Wal-Mart, and
Amazon.com }\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {to help
them better understand these differences.}\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {When filling out the second table
they may ask, \uc1\u8220XIs this how we think it is right
now}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {in the company
or how we think it should be?\uc1\u8221X If this comes up, or perhaps
even}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {before it
does, encourage them to do two se}\fs24\cf0\f0\charscalex100 {ts of marks on the
second table, one for}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {how they perceive things are right now
a}\fs24\cf0\f0\charscalex100 {nd another for how they think it should
be,}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {given the
priorities of your target customer. This will make for a better
discussion}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{later.}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Almost every time I\uc1\u8217Xve done this exercise
w}\fs24\cf0\f0\charscalex100 {ith my clients someone has put more
than}\par\pard\li1853\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100 {one mark in
the same column, indicating a }\fs22\cf0\f0\charscalex100 {tie between two
categories. You absolutely}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {must not allow this to happen. You may
ha}\fs24\cf0\f0\charscalex100 {ve to emphasize this during the
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
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2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
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2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
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2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
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2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
(293,120);(253,160);(226,213);(186,253);(160,320);(133,373);(106,440);(80,506);
(66,586);(40,653);(26,733);(13,826);(13,906);(0,986);(0,1080);(0,1173);(13,1253);
(13,1333);(26,1426);(40,1506);(66,1573);(80,1653);(106,1720);(133,1786);(160,1840);
(186,1906);(226,1946);(253,2000);(293,2040);(333,2080);(373,2106);(413,2133);
(453,2146);(493,2160);(546,2160);(586,2160);(626,2146);(666,2133);(706,2106);
(746,2080);(786,2040);(826,2000);(853,1946);(893,1906);(920,1840);(946,1786);
(973,1720);(1000,1653);(1013,1573);(1040,1506);(1053,1426);(1066,1333);(1066,1253);
(1080,1173);(1080,1080);(1080,986);(1066,906);(1066,826);(1053,733);(1040,653);
(1013,586);(1000,506);(973,440);(946,373);(920,320);(893,253);(853,213);(826,160);
(786,120);(746,80);(706,53);(666,26);(626,13);(586,0);(546,0);}}
2;164;16384;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1
;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45
824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824
;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;
45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;458
24;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;
1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;4
5824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;1;45824;24577;
32768}}
413\slmult0 \fs24\cf0\f0\charscalex100 {This is easily accomplished by showing them
a few examples on a whiteboard or}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {projector. For example,}\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\b {Correct: Only one mark in each column}\b0
colno1\colw3560\colsr-0\colno2\colw1440\colsr-0\colno3\colw1440\colsr-
\fs28\cf0\f0\charscalex100\b {Headcount}\b0 \par\pard\li1133\ri0\sl-213\slmult0
\par\column\pard\li146\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\b
{Least}\b0 \par\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\b
{\uc1\u8730X}\par\column\pard\li173\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\b
\fs24\cf0\f0\charscalex100\b {Incorrect: More than one mark in the same
column}\b0 \par\pard\li3706\ri0\sl-293\slmult0
\*\tx5173\*\tx6600\fs24\cf0\f0\charscalex100\b {Least}\b0 \tab
\fs24\cf0\f0\charscalex100\b {Less}\b0 \tab \fs24\cf0\f0\charscalex100\b
{More}\b0 \par\column\pard\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-
\fs24\cf0\f0\charscalex100\b {Most}\b0
306\slmult0 \fs28\cf0\f0\charscalex100\b {Headcount}\b0 \par\pard\li1133\ri0\sl-
\fs28\cf0\f0\charscalex100\b {Cost (external)}\b0 \par\pard\li1133\ri0\sl-
{Quality }\b0 \par\column\pard\li0\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100\b
{Flexible}\b0
\fs24\cf0\f0\charscalex100 {Pay particular attention if a manager or
em}\fs24\cf0\f0\charscalex100 {ployee insists that there has to be
more}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {than one mark
in a given column. Make the }\fs24\cf0\f0\charscalex100 {assumption that if this is
the case, your}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{company is asking the impossible of its em}\fs24\cf0\f0\charscalex100 {ployees.
(This, by the way, is usually a}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {true assumption.)}\par\pard\li1133\ri0\sl-
{Again, if explained properly, this}\fs22\cf0\f0\charscalex100 { portion of the
exercise shou}\fs22\cf0\f0\charscalex100 {ld only take a few minutes
to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{complete.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {After each team member has written down
thei}\fs24\cf0\f0\charscalex100 {r perceived priorities for the company,
ask}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {them to team up
with one or two people sitti}\fs24\cf0\f0\charscalex100 {ng next to them (or by
departments) and share}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {their views with each other. Tell them
their }\fs24\cf0\f0\charscalex100 {new assignment is to come to a consensus
among}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {each group by
creating one customer table and on}\fs24\cf0\f0\charscalex100 {e company table that
each represents the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{views of that group. You may need to hand out }\fs24\cf0\f0\charscalex100 {a few
blank tables again so they can start}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {from scratch. This has to be a non-
intimi}\fs24\cf0\f0\charscalex100 {dating environment
so }\fs24\cf0\f0\charscalex100 {that everyone feels}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {comfortable both sharing and defending his
or }\fs24\cf0\f0\charscalex100 {her answers. This w}\fs24\cf0\f0\charscalex100 {ill
likely take a little}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{longer than the individual exercise, but st}\fs24\cf0\f0\charscalex100 {ill not
more than five minutes or
so.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\co
466\slmult0 \fs24\cf0\f0\charscalex100 {When all of the various groups have
finished (or }\fs24\cf0\f0\charscalex100 {have at least agreed
to}\fs24\cf0\f0\charscalex100 { disagree) have them }\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {share their discussion and results with the
enti}\fs24\cf0\f0\charscalex100 {re team, group
by group. It }\fs24\cf0\f0\charscalex100 {is usually best
if}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {you have an
enlarged version of the tables }\fs24\cf0\f0\charscalex100 {on a whiteboard or
projec}\fs24\cf0\f0\charscalex100 {ted on a screen so}\par\pard\li1133\ri0\sl-
306\slmult0 \fs24\cf0\f0\charscalex100 {everyone can see what the others have
chosen. }\fs24\cf0\f0\charscalex100 {You can use different colored pens or Post-It}
{\super \fs16\up4\cf0\f0\charscalex100 {�}}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {notes to represent how different
groups }\fs24\cf0\f0\charscalex100 {have prioritized the four
categories.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
306\slmult0 \fs24\cf0\f0\charscalex100 {Have each group defend their views by
telling the }\fs24\cf0\f0\charscalex100 {entire team why they prioritized the
way}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {they did. The
goal should be to come to a }\fs24\cf0\f0\charscalex100 {consensus among the
entire}\fs24\cf0\f0\charscalex100 { team. Don\uc1\u8217Xt be
too}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {discouraged if
very different opi}\fs24\cf0\f0\charscalex100 {nions are voiced during this
disc}\fs24\cf0\f0\charscalex100 {ussion. Believe it or not, it
is}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {a fairly rare
thing to have every person on the sa}\fs24\cf0\f0\charscalex100 {me page when they
first try this exercise. In}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {most cases, management teams aren\uc1\u8217Xt even
cl}\fs24\cf0\f0\charscalex100 {ose to viewing these issues the same
way.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Which raises
the question, \uc1\u8220XAre}\fs24\cf0\f0\charscalex100 { your managers or
department}\fs24\cf0\f0\charscalex100 {s working at
cross\uc1\u8211Xpurposes?\uc1\u8221X}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {If they are, you\uc1\u8217Xre inevitably wasting
valu}\fs24\cf0\f0\charscalex100 {able time, money, and effort that will make
you}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {less
competitive and less likely to succeed in your business.}\par\pard\li1133\ri0\sl-
{In most cases you will hear some very different opinions regarding the way things
are}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {currently
perceived and the way various manage}\fs24\cf0\f0\charscalex100 {rs think they
should be viewed. You should}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {be open to listening to each person\uc1\u8217Xs
views. }\fs24\cf0\f0\charscalex100 {They are the people who run your company.
If}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {you and/or
others disagree, it is vital that each}\fs24\cf0\f0\charscalex100
{ person\uc1\u8217Xs reasoning is explained and heard. In}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {the end, you may have to agree to disagree
on }\fs24\cf0\f0\charscalex100 {some issues. This is fine. What is
not}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {acceptable is
for anyone to leave that meeti}\fs24\cf0\f0\charscalex100 {ng without a clear
understanding of how the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {company has now prioritized these four issues. You need
to get a commitment from each}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {individual that they will
adhere}\fs24\cf0\f0\charscalex100 { to the final priorities and
re}\fs24\cf0\f0\charscalex100 {asoning of the team when
making}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {any
decisions and when performing }\fs24\cf0\f0\charscalex100 {their various
responsibilities.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {You should
be aware that this discussion and th}\fs24\cf0\f0\charscalex100 {e priorities
eventually}\fs24\cf0\f0\charscalex100 { agreed upon will
vary}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {greatly from
business to business. They will be}\fs24\cf0\f0\charscalex100 { (and they should
be) different from other}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {companies, even within the same industry.
If }\fs24\cf0\f0\charscalex100 {these priorities are not customized to
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {particular
needs and goals of your company, then}\fs24\cf0\f0\charscalex100 { it is possible
that your company has no real}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {strategic differentiation or competitive advantage to
speak of.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {It is also important to
unde}\fs24\cf0\f0\charscalex100 {rstand that different
department}\fs24\cf0\f0\charscalex100 {s may have slightly
{priorities. However, the priorities of each in}\fs24\cf0\f0\charscalex100
{dividual department should support the overall}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {needs of your target customer and
th}\fs24\cf0\f0\charscalex100 {e general priorities of the
company.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {If you do this exercise properly
you\uc1\u8217Xll learn a }\fs24\cf0\f0\charscalex100 {great deal about your target
customers, your}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{company, and perhaps even your key employees.}\par\pard\li1133\ri0\sl-
{When finished with this exercise, remind ev}\fs24\cf0\f0\charscalex100 {eryone
that all three ci}\fs24\cf0\f0\charscalex100 {rcles of strategy
are}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {important and
that each of the four corner}\fs24\cf0\f0\charscalex100 {stones is also important.
The purpose of this}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{exercise is not to tell your team that some}\fs24\cf0\f0\charscalex100 { of these
aspects of your business are not}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {worthwhile and should therefore be
entirely }\fs24\cf0\f0\charscalex100 {neglected from this point forward. The
purpose}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {of this
exercise is to create a focused, priori}\fs24\cf0\f0\charscalex100 {tized approach
to your business that will give you}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {a competitive advantage. That competitive
edge}\fs24\cf0\f0\charscalex100 { will both attract
certain}\fs24\cf0\f0\charscalex100 { types of customers}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {and will be difficult for your competition
to
replicate.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsx
n133\cols2\colno1\colw7693\colsr-0\colno2\colw3746\pard\li1133\ri0\sl-
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
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2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
{After this meeting your entire management t}\fs24\cf0\f0\charscalex100 {eam should
know what your strategy is and what}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {they need to do in order to }\fs24\cf0\f0\charscalex100
{create, support, and maintain that focus. To finalize
this}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {discussion,
you have one more task to accomplish.}{ }\fs24\cf0\f0\charscalex100\i {Have each of
your team members write}\i0 \par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100\i {down the top three or four things that must c}\i0
\fs24\cf0\f0\charscalex100\i {hange in their departments}\i0
\fs24\cf0\f0\charscalex100\i { in order to better}\i0 \par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100\i {focus on your new strategy and the
priorities that support it.}\i0 \fs24\cf0\f0\charscalex100 { You should get a copy
and they}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {should
keep a copy. Follow up on these issues }\fs24\cf0\f0\charscalex100 {in your regular
managers meetings. Make a}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {checklist and, where appropriate, check things off as
they are completed. The table below}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {may be helpful as your department heads complete this
assignment.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\b {What must I change within my area of }\b0
\fs24\cf0\f0\charscalex100\b {responsibility in order to better conform}\b0
\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\b {to the corporate
strategy and the priorities that support it?}\b0
\fs18\cf0\par\pard\li1213\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100\b {The
Types of Products}\b0 \par\pard\li1400\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\b {or Services Offered}\b0 \par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {1.}\par\pard\li1133\ri0\sl-426\slmult0
\fs18\cf0\par\pard\li0\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100\b {Types of
Customers}\b0 \par\pard\li640\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\b
{Targeted}\b0 \par\column\pard\li0\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li0\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100\b {How
Customers Are}\b0 \par\pard\li586\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\b
{Accessed }\b0
\fs18\cf0\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {If
you\uc1\u8217Xve done this exercise pr}\fs24\cf0\f0\charscalex100 {operly
you\uc1\u8217Xll likely have a group of}\fs24\cf0\f0\charscalex100 { fairly worn
out individuals}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {by
the time you\uc1\u8217Xre finished. Be sure to tha}\fs24\cf0\f0\charscalex100 {nk
them and congratulate them on a job well done.}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {Assure them that if they stay focused on
th}\fs24\cf0\f0\charscalex100 {e decisions made in this meeting, the
company}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {will be
much better off than it was prior to this
meeting.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn1
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {Chapter
4}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
\fs32\cf0\f0\charscalex100\b {Positioning Your Business}\b0
\fs24\cf2\f0\charscalex100\i {\uc1\u8220XYou can make more friends in two months by
}\i0 \fs24\cf2\f0\charscalex100\i {becoming interested in other people than you}\i0
\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf2\f0\charscalex100\i {can in two years
by trying to get other pe}\i0 \fs24\cf2\f0\charscalex100\i {ople interested in
yo}\i0 \fs24\cf2\f0\charscalex100\i {u.\uc1\u8221X (Dale Carnegie) }\i0
\fs18\cf0\par\pard\li1133\ri0\sl-400\slmult0 \fs24\cf0\f0\charscalex100 {Now that
we\uc1\u8217Xve discussed the at}\fs24\cf0\f0\charscalex100 {tributes of creating a
successful}\fs24\cf0\f0\charscalex100 { business, it\uc1\u8217Xs time to
apply}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {those
principles to the external world so that}\fs24\cf0\f0\charscalex100 { you can
actually generate}\fs24\cf0\f0\charscalex100 { more revenue for
{business.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {The point of all businesses is to provide
some }\fs24\cf0\f0\charscalex100 {benefit or value to ot}\fs24\cf0\f0\charscalex100
{her people. No company}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {can survive unless they have something that
ot}\fs24\cf0\f0\charscalex100 {hers want badly enough to pay for it. At
their}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {core these transactions almost
al}\fs24\cf0\f0\charscalex100 {ways involve a relatively
finite }\fs24\cf0\f0\charscalex100 {set of factors. It\uc1\u8217Xs
important}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {to
understand that the main factors of any tr}\fs24\cf0\f0\charscalex100 {ansaction
are the same }\fs24\cf0\f0\charscalex100 {four cornerstones
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {business we
discussed earlier. As a re}\fs24\cf0\f0\charscalex100 {minder, these four
cornerstones are:}\par\pard\li1493\ri0\sl-213\slmult0
{1.}\tab \fs24\cf0\f0\charscalex100 {Low effort}\par\pard\li1493\ri0\sl-213\slmult0
{2.}\tab \fs24\cf0\f0\charscalex100 {Low cost}\par\pard\li1493\ri0\sl-
\*\tx1853\fs24\cf0\f0\charscalex100 {3.}\tab \fs24\cf0\f0\charscalex100 {High speed
of delivery}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{High quality of product or service}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {In chapter
three we discussed }\fs24\cf0\f0\charscalex100 {how these four keys help you to
better define your target}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {customers and manage the internal
operations}\fs24\cf0\f0\charscalex100 { of your business to focus on implementing
a}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {solid strategy.
In this chapter we\uc1\u8217Xll discuss }\fs24\cf0\f0\charscalex100 {how these four
keys affect your success with}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {customers and partners - those
relationshi}\fs24\cf0\f0\charscalex100 {ps that are external to your
346\slmult0 \fs24\cf0\f0\charscalex100 {Business transactions take place only when
the things you sell fall within a customer\uc1\u8217Xs}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {tolerance level of
these }\fs24\cf0\f0\charscalex100 {four elements of business. Every customer wants
to buy things that}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{are easy to get and use, don\uc1\u8217Xt cost a lot, sa}\fs24\cf0\f0\charscalex100
{ve time, and are of high }\fs24\cf0\f0\charscalex100 {enough quality to
meet}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100 {their needs.
If you can provide a desirable product }\fs22\cf0\f0\charscalex100 {or service in
such a way that it meets these}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {criteria, and you\uc1\u8217Xre successful in
communicating }\fs24\cf0\f0\charscalex100 {these advantages to your target
customers,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {you will
almost always be able to generate business.}\par\pard\li1133\ri0\sl-213\slmult0
problem customers and partners have is }\fs24\cf0\f0\charscalex100 {the same one
you have. Each of these four}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {elements generally involve tradeoffs of
so}\fs24\cf0\f0\charscalex100 {me kind. Your potential customers are
always}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {evaluating
how much they\uc1\u8217Xre willing to pay fo}\fs24\cf0\f0\charscalex100 {r reduced
effort, saved time, and increased}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {quality. Identifying what that
thre}\fs24\cf0\f0\charscalex100 {shold is for your target customers and meeting
that need is}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {vital
to the success }\fs24\cf0\f0\charscalex100 {of your
business.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {Given that
different customers will have differe}\fs24\cf0\f0\charscalex100 {nt thresholds,
there are two basic ways to}\par\pard\li1133\ri0\sl-266\slmult0
\fs22\cf0\f0\charscalex100 {identify what your \uc1\u8220Xsweet spot\uc1\u8221X
should be. Bo}\fs22\cf0\f0\charscalex100 {th techniques deal
dir}\fs22\cf0\f0\charscalex100 {ectly with the second}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {circle of business strategy
disc}\fs24\cf0\f0\charscalex100 {ussed in chapter two \uc1\u8211X that of customers
and their needs. These}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {techniques were touched on
in }\fs24\cf0\f0\charscalex100 {the previous chapter as
well.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {The first technique is to look at what
you }\fs24\cf0\f0\charscalex100 {currently sell and compare your pricing
and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {benefits to
your competition\uc1\u8217Xs. Which target}\fs24\cf0\f0\charscalex100 { customers
best match your current offerings}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {with regard to cost, quality, speed, or
effort}\fs24\cf0\f0\charscalex100 {? Do you already have a competitive
advantage}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {with a
given subset of prospects? If so, then}\fs24\cf0\f0\charscalex100
{ you\uc1\u8217Xre ready to move on to the next question,}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {which is, \uc1\u8220XHow do you let those
prosp}\fs24\cf0\f0\charscalex100 {ects know about these
advantages?\uc1\u8221X}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {The second
way to identify your sweet spot is }\fs24\cf0\f0\charscalex100 {to look at the
various customer types that}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {currently exist in your space and choose to
creat}\fs24\cf0\f0\charscalex100 {e products that focus on a specific subset
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {that group. This
decision may be based on va}\fs24\cf0\f0\charscalex100 {rious factors such as
geography, size of the}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {subset, your ability to access that subset, etc.
If}\fs24\cf0\f0\charscalex100 { there is an advantage }\fs24\cf0\f0\charscalex100
{to targeting one subset}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {of customers over another, start listing how
you }\fs24\cf0\f0\charscalex100 {must change your business in order to
better}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {meet the
needs of those customers.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {If you
completed the exercises in chapters }\fs24\cf0\f0\charscalex100 {two and three then
you }\fs24\cf0\f0\charscalex100 {should already have a}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {pretty good understanding of
your }\fs24\cf0\f0\charscalex100 {target customer and their needs. In fact,
you\uc1\u8217Xve probably}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {already discussed whether your offerings meet
th}\fs24\cf0\f0\charscalex100 {e needs of your target customers or
whether}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {you need to
adjust or revamp your offerings }\fs24\cf0\f0\charscalex100 {to better meet those
needs. If you haven\uc1\u8217Xt}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {completed those exercises,
I }\fs24\cf0\f0\charscalex100 {strongly encourage you to do
so.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\b \i {Perception is 9/10}\b0 \i0 {\super
\fs16\up4\cf0\f0\charscalex100\b \i {th}\b0 \i0 }\fs24\cf0\f0\charscalex100\b \i
{ Of Reality}\b0 \i0 \par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100
{If I had dollar for every time I\uc1\u8217Xve said
these }\fs24\cf0\f0\charscalex100 {words to my
employees }\fs24\cf0\f0\charscalex100 {over the years I
could}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {fund my next
business with it. It is a simple ru}\fs24\cf0\f0\charscalex100 {le that is too
seldom }\fs24\cf0\f0\charscalex100 {put into practice.
There}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {are many
business leaders who believe that if}\fs24\cf0\f0\charscalex100 { you provide a
good product or service you will}\par\pard\li1133\ri0\sl-280\slmult0
{automatically be rewarded with increased re}\fs24\cf0\f0\charscalex100 {venue.
This is true enough, but only if your}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {prospects and customers are aware of the good
jo}\fs24\cf0\f0\charscalex100 {b that you do. It doesn\uc1\u8217Xt matter whether
or}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {not you feel you
do a good job. It only matters wh}\fs24\cf0\f0\charscalex100 {ether or not your
customers and partners}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {believe that you do a good
job.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {In saying this I don\uc1\u8217Xt mean that
you should deceiv}\fs24\cf0\f0\charscalex100 {e your customers or partners - far
from it.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{Relationships such as those generally don\uc1\u8217Xt
la}\fs24\cf0\f0\charscalex100 {st very long and seldom produce the
desired}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {long-term
results. What I mean is that you mu}\fs24\cf0\f0\charscalex100 {st learn how to
effec}\fs24\cf0\f0\charscalex100 {tively communicate with}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {those outside entities who are important to
the }\fs24\cf0\f0\charscalex100 {success of your
business. }\fs24\cf0\f0\charscalex100 {You must be able to}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {present the benefits of your
bus}\fs24\cf0\f0\charscalex100 {iness in an appealing
manner.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Good communication can make
peopl}\fs24\cf0\f0\charscalex100 {e notice you in the first place, decide to give
you a try,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {help
them to overlook weaknesses, and turn them}\fs24\cf0\f0\charscalex100 { into repeat
customers. Good marketing and}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {effective customer service often has more
to }\fs24\cf0\f0\charscalex100 {do with efficient, fre}\fs24\cf0\f0\charscalex100
{quent communication than}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {any other
factor.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn13
\fs20\cf0\f0\charscalex100\i {Positioning Your Business}\i0
give you an example regarding effective }\fs24\cf0\f0\charscalex100 {customer
service that every frequent flyer}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {will understand. An interesting thing happens
wh}\fs24\cf0\f0\charscalex100 {en people board a plane and then the
plane}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {is delayed.
If nothing is said about the delay, }\fs24\cf0\f0\charscalex100 {passengers begin
to get agitated and even}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {worried. If the pilot or
flight}\fs24\cf0\f0\charscalex100 { attendant comes on the intercom and only tells
the passengers}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {that
the flight will be delayed but gives no explanation for the delay, people tend to
get}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {frustrated and
even angry. Then a strange thing ha}\fs24\cf0\f0\charscalex100 {ppens. If this same
pilot or flight attendant}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {talks to the passengers again and tells
them }\fs24\cf0\f0\charscalex100 {what\uc1\u8217Xs wrong or why the plane is
delayed and}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {then
tells them how long it will take to fix the }\fs24\cf0\f0\charscalex100 {problem,
for some strange reason this tends to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {calm most people down. All of a sudden passengers
s}\fs24\cf0\f0\charscalex100 {eem to be able to de}\fs24\cf0\f0\charscalex100 {al
with the situation}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{better simply because they know }\fs24\cf0\f0\charscalex100 {more about it.
Nothing has r}\fs24\cf0\f0\charscalex100 {eally changed. The flight
will}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {still be
delayed just as long whether the }\fs24\cf0\f0\charscalex100 {passengers know
what\uc1\u8217Xs going on or not. But the}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {mere fact that people know what\uc1\u8217Xs going on
ha}\fs24\cf0\f0\charscalex100 {s a tremendous effect on them, regardless
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {whether or not
that knowledge changes the situation.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {The same
is true of most business relationships}\fs24\cf0\f0\charscalex100 {. Things go
wrong in business. That\uc1\u8217Xs just the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {way it is sometimes. Those companies
that }\fs24\cf0\f0\charscalex100 {hide their mistakes or who don\uc1\u8217Xt tell
their}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {customers
what\uc1\u8217Xs going on tend to experience }\fs24\cf0\f0\charscalex100 {the same
reaction as the passengers of a}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {delayed flight. However, if you are upfront
w}\fs24\cf0\f0\charscalex100 {ith them by explaining what happened and
what}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {it will take
to fix the problem, customer}\fs24\cf0\f0\charscalex100 {s usually respect that and
tend to calm down.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{Ignorance almost always conveys the wrong }\fs24\cf0\f0\charscalex100 {perception.
Not knowing anything is almost}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {always worse than knowing what the problem
is}\fs24\cf0\f0\charscalex100 { and then conveying the specifics about
how}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{you\uc1\u8217Xre going to fix it.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {The bottom
line is that you need to present }\fs24\cf0\f0\charscalex100 {yourself as open,
honest, }\fs24\cf0\f0\charscalex100 {and competent at all}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {times. Communicate to customers and
prospect}\fs24\cf0\f0\charscalex100 {s frequently and communicate
effectively.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {You
need to tell people about your business a}\fs24\cf0\f0\charscalex100 {nd the value
it brings them. Then you need to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {keep track of the success you bring to your customers
better than they do and you need to}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {communicate that success to them before they
as}\fs24\cf0\f0\charscalex100 {k for it. You need to be one step ahead
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {them all the
way. There is huge value in setting }\fs24\cf0\f0\charscalex100 {up regular
reporting systems that constantly}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {show your customers the value that you
have}\fs24\cf0\f0\charscalex100 { brought to them. Never assume that
your}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {customers know
how great you are or how much }\fs24\cf0\f0\charscalex100 {value you\uc1\u8217Xre
delivering to them. Trust me,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {in most cases they don\uc1\u8217Xt fully
understand }\fs24\cf0\f0\charscalex100 {that value. They need to be
told!}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Whatever your business is
ther}\fs24\cf0\f0\charscalex100 {e are few things that will
br}\fs24\cf0\f0\charscalex100 {ing more confidence from
your}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {customers and
more repeat business than }\fs24\cf0\f0\charscalex100 {clear, open communication
surrounding the value}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {you\uc1\u8217Xre providing to them. They need to be
re}\fs24\cf0\f0\charscalex100 {minded of this all the time\uc1\u8230Xalmost
constantly.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {This
can be done via marketing campaigns}\fs24\cf0\f0\charscalex100 {, your website, in
person, over the phone, via}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {regular written reports, via email, or in
ma}\fs24\cf0\f0\charscalex100
{ny other ways depending on your specific type of}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {business and the customers you engage. If
they pe}\fs24\cf0\f0\charscalex100 {rceive that you offer solid value and
{you\uc1\u8217Xre on top of things, even when problems
exis}\fs24\cf0\f0\charscalex100 {t, then you\uc1\u8217Xll find they are much easier
to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {keep happy.
However, even when you\uc1\u8217Xre doing a }\fs24\cf0\f0\charscalex100 {great job
and providing }\fs24\cf0\f0\charscalex100 {fantastic value,
if}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100 {they perceive
that things aren}\fs22\cf0\f0\charscalex100 {\uc1\u8217Xt going well or if they
simply}\fs22\cf0\f0\charscalex100 { don\uc1\u8217Xt know whether or not
things}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {are going
well, then you\uc1\u8217Xll have a difficult ti}\fs24\cf0\f0\charscalex100 {me
making them happy, regardless of the actual}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {value you\uc1\u8217Xre bringing them. Proper and
effec}\fs24\cf0\f0\charscalex100 {tive communication is king in almost
any}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{business.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsx
of Business}\i0
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {Reality is
important in business. But as far }\fs24\cf0\f0\charscalex100 {as your customers
and prospects are concerned,}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {perception is 9/10ths of reality and that
is }\fs24\cf0\f0\charscalex100 {how they will make future decisions
regarding}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {your
business. Everyone in your organizati}\fs24\cf0\f0\charscalex100 {on that regularly
communicates with your}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {customers should have this principle drilled
in}\fs24\cf0\f0\charscalex100 {to their heads until it
be}\fs24\cf0\f0\charscalex100 {comes part of their}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {normal process. They need to know what to
say }\fs24\cf0\f0\charscalex100 {and how to say it before they need to do
so.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {You should try
to automate this communication }\fs24\cf0\f0\charscalex100 {process as much as
possible so it doesn\uc1\u8217Xt}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {require too much effort or
cost}\fs24\cf0\f0\charscalex100 { on your part, but it needs to happen one way or
another. The}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{following sections are designed to help you crea}\fs24\cf0\f0\charscalex100 {te
effective ways to communicate with your}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {prospects and customers.}\par\pard\li1133\ri0\sl-
\fs18\cf0\par\pard\li1133\ri0\sl-360\slmult0 \fs24\cf0\f0\charscalex100\b \i {The
Art of Selling Value Instead of Products or Services}\b0 \i0
\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {What is it your
customers actually want to buy}\fs24\cf0\f0\charscalex100 {? As strange as it
sounds, most prospects don\uc1\u8217Xt}\par\pard\li1133\ri0\sl-266\slmult0
\fs22\cf0\f0\charscalex100 {really know the answer to that question.
Whether }\fs22\cf0\f0\charscalex100 {they realize it or not, what B-to-B
(business}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {to
business) customers really want to buy is }\fs24\cf0\f0\charscalex100 {more money.
They either want to buy something}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {that will save them money or they want
to }\fs24\cf0\f0\charscalex100 {buy something that will make them more
money.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {When it
comes right down to it, those are th}\fs24\cf0\f0\charscalex100 {e two most highly
prized benefits you can}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {provide to any business,
rega}\fs24\cf0\f0\charscalex100 {rdless of what you sell. The way in which you
save/provide}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {more
money to them generally deals with one or}\fs24\cf0\f0\charscalex100 { more of the
four cornerstones of business.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {However, your customers don\uc1\u8217Xt often think in
thes}\fs24\cf0\f0\charscalex100 {e terms. You have to do the thinking
for}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {them by showing
them what it is }\fs24\cf0\f0\charscalex100 {they really want to buy
instead }\fs24\cf0\f0\charscalex100 {of what they think they
want}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {to buy. When
you start applying th}\fs24\cf0\f0\charscalex100 {is principle to your own
busin}\fs24\cf0\f0\charscalex100 {ess, you\uc1\u8217Xll quickly see
what}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {I
mean.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {I should also mention that the economy has
a }\fs24\cf0\f0\charscalex100 {large effect on what kind of money
businesses}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {want to
buy from you. This is one of the re}\fs24\cf0\f0\charscalex100 {asons some
businesses flourish while others}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {struggle, and then you often see them
f}\fs24\cf0\f0\charscalex100 {lip-flop. In general, during a down
economy,}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {businesses
will spend money in}\fs24\cf0\f0\charscalex100 { order to save money. During a good
economy, businesses}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{will generally spend money in order to make }\fs24\cf0\f0\charscalex100 {more
money. The type of value or benefit you}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {provide to your customers and the messaging
yo}\fs24\cf0\f0\charscalex100 {u use to convey that value can be
profoundly}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {affected
by these external, economic influen}\fs24\cf0\f0\charscalex100 {ces. You should
plan and adjust accordingly.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {I\uc1\u8217Xve watched very
successful }\fs24\cf0\f0\charscalex100 {businesses nosedive as the
econo}\fs24\cf0\f0\charscalex100 {my turns sour while
others,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {who have
been struggling for y}\fs24\cf0\f0\charscalex100 {ears, achieve record sales
duri}\fs24\cf0\f0\charscalex100 {ng that same time period.
Then,}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {when the
economy turns again, they both go back to the way they were
before.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {If you sell B-to-B solutions, then from
this poi}\fs24\cf0\f0\charscalex100 {nt forward you do not
sell}\fs24\cf0\f0\charscalex100 { products or services}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {anymore. You sell money. You either
save }\fs24\cf0\f0\charscalex100 {money for your customers or you make
more}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {money for
them. The easiest way to explain th}\fs24\cf0\f0\charscalex100 {is is to bring it
down to a money proposition.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {\uc1\u8220XIf you were able to buy/save a ten dollar
bill}\fs24\cf0\f0\charscalex100 { with every one dollar bill you spend,
how}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {many one dollar
bills would you spend?\uc1\u8221X The }\fs24\cf0\f0\charscalex100 {answer is
easy, \uc1\u8220XAs many as you possibly}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {can.\uc1\u8221X As soon as you can convince your
prospects }\fs24\cf0\f0\charscalex100 {of this value proposition, they will
become }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {your
333\slmult0 \fs24\cf0\f0\charscalex100 {The same is basically true about B-to-C
(busin}\fs24\cf0\f0\charscalex100 {ess to consumer) businesses, except not to
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {same extent.
All businesses exist to make }\fs24\cf0\f0\charscalex100 {money. Not all consumers
care as much about}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{money as they do about effort, speed, or qual}\fs24\cf0\f0\charscalex100 {ity. The
things consumers value can be
very}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\c
ols2\colno1\colw9026\colsr-
{Positioning Your Business}\i0 \par\column\pard\li0\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {different
than the things businesses value. It}\fs24\cf0\f0\charscalex100 { just depends on
what }\fs24\cf0\f0\charscalex100 {you\uc1\u8217Xre selling and
who}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {your target
customer is. With B-to-C businesses the discussion often focuses on things
like}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {same quality
at a lower cost or same cost but hi}\fs24\cf0\f0\charscalex100 {gher quality (or
higher speed or lower effort).}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {However, all things being equal, the
questions}\fs24\cf0\f0\charscalex100 { will still come down
to}\fs24\cf0\f0\charscalex100 { the tradeoffs between}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {those four issues (cost, quality, speed,
and e}\fs24\cf0\f0\charscalex100 {ffort). You must determine what your
target}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {customers
value the most and communicate that }\fs24\cf0\f0\charscalex100 {value to them.
Keep in mind that the product}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {or service you sell to your customers isn\uc1\u8217Xt
always}\fs24\cf0\f0\charscalex100 { what they ultimately value. Rather, it is
the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {benefit of what
your product or service provide}\fs24\cf0\f0\charscalex100 {s that they really
value. Here are a few}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {examples of what I\uc1\u8217Xm talking
about.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {If you are a shoe store, I
guara}\fs24\cf0\f0\charscalex100 {ntee that your customers don\uc1\u8217Xt
va}\fs24\cf0\f0\charscalex100 {lue red shoes. Rather, they}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {value how those red shoes will make their
lives}\fs24\cf0\f0\charscalex100 { more enjoyable or meaningful. They
value}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the perceived
result of wearing }\fs24\cf0\f0\charscalex100 {red shoes. Most of the
things}\fs24\cf0\f0\charscalex100 { we buy are merely a means
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {an end rather
than an end in and of themselv}\fs24\cf0\f0\charscalex100 {es. Therefore, instead
of telling your target}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {customers that you sell red shoes and that
they}\fs24\cf0\f0\charscalex100 { should buy some, you want to tell them
what}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {ultimate value
they will get out of those red shoes. Values such as standing out in a
crowd,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {being
noticed at a dance, being in style, etc. }\fs24\cf0\f0\charscalex100 {are the types
of things your customers are really}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {after. Red shoes are simply perceived as
one}\fs24\cf0\f0\charscalex100 { way of accomplishing these types of
goals.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Let\uc1\u8217Xs suppose you sell paint.
Advertising that }\fs24\cf0\f0\charscalex100 {you sell paint is always a tie game
because}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {there are
generally many places people can }\fs24\cf0\f0\charscalex100 {go to buy paint.
However, if your paint is}\par\pard\li1133\ri0\sl-266\slmult0
\fs22\cf0\f0\charscalex100 {cheaper, easier to obtain or
use, }\fs22\cf0\f0\charscalex100 {faster, or of higher quality
th}\fs22\cf0\f0\charscalex100 {an your competitors then
you\uc1\u8217Xve}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{got a good story to tell. In this manner, you
don\uc1\u8217Xt }\fs24\cf0\f0\charscalex100 {sell paint. You sell money or value.
Even if}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {your
customer doesn\uc1\u8217Xt realize it, this money or }\fs24\cf0\f0\charscalex100
{value will always be achieved in one or more}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {of our four key areas. Your
marketin}\fs24\cf0\f0\charscalex100 {g and sales messages should emphasize
this}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{differentiation.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {I recently
heard a fun idea from a business that}\fs24\cf0\f0\charscalex100 { cuts hair.
Cutting hair is about as common,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {unoriginal, and mundane as it gets. Yet this
s}\fs24\cf0\f0\charscalex100 {hop put a new twist on it. Because their
products}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {and
services were so mundane, they chose to fo}\fs24\cf0\f0\charscalex100 {cus on a
specific type of customer as their}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {main strategic focus. As a result they
placed}\fs24\cf0\f0\charscalex100 { large screen TVs thr}\fs24\cf0\f0\charscalex100
{oughout their \uc1\u8220Xsalon\uc1\u8221X and}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {continuously showed sports programs on each
of }\fs24\cf0\f0\charscalex100 {these TVs. Armed with this strategy
they}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {could focus
their entire business on this theme.}\fs24\cf0\f0\charscalex100 { Everything from
the name of the business to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {where they advertised to what they
said }\fs24\cf0\f0\charscalex100 {in their messaging was focused on the
target}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {audience of
adult men who would love to watch }\fs24\cf0\f0\charscalex100 {sports while getting
a haircut. Hence, the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {value proposition was relatively easy to
convey:}\fs24\cf0\f0\charscalex100 { \uc1\u8220XFor the same price as a normal hair
cut}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {elsewhere, you
can also be entertained with }\fs24\cf0\f0\charscalex100 {sports programs when you
get your hair cut at}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{our salon.\uc1\u8221X The end result is more value for
the }\fs24\cf0\f0\charscalex100 {same price. The way in which they
actually}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {made money
was almost incidental to}\fs24\cf0\f0\charscalex100 { how they attracted new
333\slmult0 \fs24\cf0\f0\charscalex100 {You must decide what value you bring to
your}\fs24\cf0\f0\charscalex100 { customers and sell it }\fs24\cf0\f0\charscalex100
{based on that value}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{rather than selling the features of the products }\fs24\cf0\f0\charscalex100 {or
services that deliver}\fs24\cf0\f0\charscalex100 { that value. Here\uc1\u8217Xs
a}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {brief description
and a few examples of how }\fs24\cf0\f0\charscalex100 {each of the cornerstones of
business may apply}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{to your customers and their needs. You should be}\fs24\cf0\f0\charscalex100
{ aware of each of the issues below before}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {you even engage your customer. These
answer}\fs24\cf0\f0\charscalex100 {s can be generic \uc1\u8220Xif you\uc1\u8217Xre
an average}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{company\uc1\u8221X answers, but the more specifics }\fs24\cf0\f0\charscalex100
{you can use in your comm}\fs24\cf0\f0\charscalex100 {unication, the
better.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn13
466\slmult0 \fs24\cf0\f0\charscalex100\b \i {Cost}\b0 \i0 \par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {Simply put, this value occurs when your
offe}\fs24\cf0\f0\charscalex100 {rings cost your customers less than
similar}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {offerings
from your competitors or}\fs24\cf0\f0\charscalex100 { when you can prove that
cost }\fs24\cf0\f0\charscalex100 {is irrelevant based on
other}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {factors. Be
cheaper than your competitors a}\fs24\cf0\f0\charscalex100 {nd you have an
effective value statement.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {Likewise, either save or make them more
m}\fs24\cf0\f0\charscalex100 {oney than they\uc1\u8217Xre spending and you have a
value}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {statement.
You\uc1\u8217Xll need to apply }\fs24\cf0\f0\charscalex100 {these concepts to your
own busin}\fs24\cf0\f0\charscalex100 {ess, but if cost provides
you}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {with a
competitive edge, you need to take a}\fs24\cf0\f0\charscalex100 {dvantage of that
edge by making your prospects}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {aware of it before they even
ask.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100\i {\uc1\u8220XYou will save $10,000 every
time you spend $1,000 on our solution. Here\uc1\u8217Xs how...\uc1\u8221X}\i0
\fs24\cf0\f0\charscalex100\i {\uc1\u8220XEvery $1.00 you spend on our product
gene}\i0 \fs24\cf0\f0\charscalex100\i {rates $3.00 additional dollars for
your}\i0 \par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i
{business.\uc1\u8221X}\i0 \par\pard\li1133\ri0\sl-213\slmult0
{\uc1\u8220XOur product is the same or better quality }\i0
\fs24\cf0\f0\charscalex100\i {as our competitors, but will cost you half as }\i0
{much.\uc1\u8221X}\i0 \par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Unless
they simply don\uc1\u8217Xt believe you, these types }\fs24\cf0\f0\charscalex100
{of statements should attract the attention of}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {almost any
prospect.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\b \i {Effort}\b0 \i0
\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Every customer
wants what he or she buys to be}\fs24\cf0\f0\charscalex100 { easy and effortless.
This applies to both the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {functionality of the product
or }\fs24\cf0\f0\charscalex100 {service itself as well as the
e}\fs24\cf0\f0\charscalex100 {ffort involved with buying
and}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {implementing
it. Reduce your customers\uc1\u8217X effort to}\fs24\cf0\f0\charscalex100 { do the
things they need to do and you have}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {a great argument as to why they should
buy }\fs24\cf0\f0\charscalex100 {from you, even if you are more expensive
than}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {your
competitors.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\i {\uc1\u8220XUsing our solution you will be
able to pr}\i0 \fs24\cf0\f0\charscalex100\i {oduce twice as much product with the
same}\i0 \par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {number
of employees, thus making your com}\i0 \fs24\cf0\f0\charscalex100\i {pany twice as
much money with no additional}\i0 \par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\i {labor costs.\uc1\u8221X}\i0 \par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\i {\uc1\u8220XOur product allows your sales people to
be}\i0 \fs24\cf0\f0\charscalex100\i { 30% more productive. How much would a 30%}\i0
\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {increase in sales
mean to your bottom line?\uc1\u8221X}\i0 \par\pard\li1133\ri0\sl-213\slmult0
{\uc1\u8220XOur service saves you the e}\i0 \fs24\cf0\f0\charscalex100\i {ffort of
building and managing y}\i0 \fs24\cf0\f0\charscalex100\i {our own internal team.
When}\i0 \par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {you
consider the costs associated with salari}\i0 \fs24\cf0\f0\charscalex100\i {es,
training, office space,}\i0 \fs24\cf0\f0\charscalex100\i { benefits, etc.
you\uc1\u8217Xll}\i0 \par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100\i {find we can save your company between $50,000 and
$100,000 per year.\uc1\u8221X}\i0 \par\pard\li1133\ri0\sl-213\slmult0
{\uc1\u8220XOur product can be applied }\i0 \fs24\cf0\f0\charscalex100\i {without
the training and equi}\i0 \fs24\cf0\f0\charscalex100\i {pment required of
similar}\i0 \par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i
{products. This cuts your time }\i0 \fs24\cf0\f0\charscalex100\i {and spending by
30% to 50%.\uc1\u8221X }\i0 \par\pard\li1133\ri0\sl-213\slmult0
{\uc1\u8220XRather than going to ten different stores we}\i0
\fs24\cf0\f0\charscalex100\i { provide everything you need under one
roof.\uc1\u8221X}\i0
colno1\colw9026\colsr-0\colno2\colw2413\pard\li1133\ri0\sl-213\slmult0
{Speed}\b0 \i0 \par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {How
much are your customers willin}\fs24\cf0\f0\charscalex100 {g to give up in the
areas of }\fs24\cf0\f0\charscalex100 {cost or quality in order
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {have it now
instead of later? If you can help}\fs24\cf0\f0\charscalex100 { your customers find
more value by delivering}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {products or services faster or reducing the
sp}\fs24\cf0\f0\charscalex100 {eed at which they perform some task, then
you}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {need to clearly
spell out these advantages.}\par\pard\li1133\ri0\sl-213\slmult0
{\uc1\u8220XUsing our solution you\uc1\u8217Xll be able to get your }\i0
\fs24\cf0\f0\charscalex100\i {product to market an average of two months}\i0
\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {faster than
normal. At two releases per yea}\i0 \fs24\cf0\f0\charscalex100\i {r and $100k
revenue per month, our solution will}\i0 \par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100\i {be worth $400k per year to your
company.\uc1\u8221X}\i0 \par\pard\li1133\ri0\sl-213\slmult0
{\uc1\u8220XUsing our services will enable you to genera}\i0
\fs24\cf0\f0\charscalex100\i {te the same amount of revenue in half the}\i0
{time.\uc1\u8221X}\i0 \par\pard\li1133\ri0\sl-213\slmult0
{\uc1\u8220XOur product will enable you to finish the job }\i0
\fs24\cf0\f0\charscalex100\i {in about 1/3 of the norma}\i0
\fs24\cf0\f0\charscalex100\i {l time. What\uc1\u8217Xs your}\i0
\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100\i {time worth to
you?\uc1\u8221X}\i0 \par\pard\li1133\ri0\sl-213\slmult0
{\uc1\u8220XNo more waiting in lines. Just swipe your card and
go.\uc1\u8221X}\i0 \par\pard\li1133\ri0\sl-213\slmult0
{Quality}\b0 \i0 \par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{How will the quality of your solution enable your customers to generate more
revenue or}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {realize
more value?}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\i {\uc1\u8220XUsing our solution will
improve your customer}\i0 \fs24\cf0\f0\charscalex100\i { retention by 40%.
Th}\i0 \fs24\cf0\f0\charscalex100\i {is means that if you}\i0
\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {normally lose 40
customers
per month, each worth $100 per month, you will generate an}\i0
\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100\i {additional $4,000
per month. Assuming that these }\i0 \fs24\cf0\f0\charscalex100\i {return customers
will purchase from you}\i0 \par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\i {every month, that amounts to $312,000 of
additional}\i0 \fs24\cf0\f0\charscalex100\i { revenue in the first twelve months
by}\i0 \par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {using our
solution.\uc1\u8221X}\i0 \par\pard\li1133\ri0\sl-213\slmult0
{\uc1\u8220XOur product costs 10% more but lasts twice as}\i0
\fs24\cf0\f0\charscalex100\i { long, thus saving you about 45% in the long}\i0
{run.\uc1\u8221X}\i0 \par\pard\li1133\ri0\sl-213\slmult0
{\uc1\u8220XStudies have shown that improv}\i0 \fs24\cf0\f0\charscalex100\i {ing
the quality of your website }\i0 \fs24\cf0\f0\charscalex100\i {can increase your
sales by}\i0 \par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {40%.
How much would a 40% increa}\i0 \fs24\cf0\f0\charscalex100\i {se in sales be worth
to you?\uc1\u8221X}\i0 \par\pard\li1133\ri0\sl-213\slmult0
note that every one of the issues }\fs24\cf0\f0\charscalex100 {above is focused on
money and value rather}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {than products or services. Y}\fs24\cf0\f0\charscalex100
{ou may have a good \uc1\u8220Xwidget\uc1\u8221X to }\fs24\cf0\f0\charscalex100
{sell me. You may even convince}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {me to buy a couple of them. But, regardless
of}\fs24\cf0\f0\charscalex100 { what you sell, if you
can}\fs24\cf0\f0\charscalex100 { convince me that
I\uc1\u8217Xll}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {get
five additional dollars for every one dolla}\fs24\cf0\f0\charscalex100 {r I spend,
I\uc1\u8217Xll spend as much money on you as I}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {possibly can. There are few businesses on
earth that will turn down a good value proposition.}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {Likewise, if you can convince me, as a
consumer}\fs24\cf0\f0\charscalex100 {, that your product will make my life
more}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {enjoyable or
meaningful (however I define }\fs24\cf0\f0\charscalex100 {those terms) without
suffering more than I\uc1\u8217Xm}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {gaining, I\uc1\u8217Xll buy as
much }\fs24\cf0\f0\charscalex100 {of it as I possibly can.}\par\pard\li1133\ri0\sl-
{Not only do the four cornerstones of business gene}\fs24\cf0\f0\charscalex100
{rate some of your best marketing and sales}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {pitches, they also help to
ove}\fs24\cf0\f0\charscalex100 {rcome complaints from your customers. Literally all
complaints}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {from
your customers will be in one of these }\fs24\cf0\f0\charscalex100 {four areas. If
you can identify which of
these}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {four areas
represent your greates}\fs24\cf0\f0\charscalex100 {t weaknesses (or what they
perceive to be a weakness), you}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {can combat those weaknesses by emphasizing the
tradeoffs with the other areas.}{ }\fs24\cf0\f0\charscalex100\i {\uc1\u8220XYes,
our}\i0 \par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {solution
takes longer than any of our compet}\i0 \fs24\cf0\f0\charscalex100\i
{itors\uc1\u8217X. However, it costs 20% less and requires}\i0
\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {no effort on your
part. If you value your tim}\i0 \fs24\cf0\f0\charscalex100\i {e and money then we
are clearly the better}\i0 \par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100\i {choice.\uc1\u8221X}\i0 \fs24\cf0\f0\charscalex100
{ Again, both you and your customer will have}\fs24\cf0\f0\charscalex100 { to
accept the fact that you\uc1\u8217Xre unlikely}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {to be all things to all
peop}\fs24\cf0\f0\charscalex100 {le. You\uc1\u8217Xre looking to meet
the }\fs24\cf0\f0\charscalex100 {needs of those prospects
whose}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {priorities
match those of your company or produc}\fs24\cf0\f0\charscalex100 {ts in these four
areas. If your customers\uc1\u8217X}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {priorities don\uc1\u8217Xt match your own priorities it
}\fs24\cf0\f0\charscalex100 {becomes much more diffi}\fs24\cf0\f0\charscalex100
{cult to overcome their}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {complaints.}\par\pard\li1133\ri0\sl-213\slmult0
360\slmult0 \fs24\cf0\f0\charscalex100\b \i {Getting the Word Out}\b0 \i0
\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {Once
you\uc1\u8217Xre comfortable with defining your}\fs24\cf0\f0\charscalex100 { value
propositions and being able to}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {communicate those to your target audiences,
the }\fs24\cf0\f0\charscalex100 {next step involves id}\fs24\cf0\f0\charscalex100
{entifying the best ways}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {to access those target customers with that
message }\fs24\cf0\f0\charscalex100 {(third circle of strategy). What\uc1\u8217Xs
the use of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {creating
a great company that provides great }\fs24\cf0\f0\charscalex100 {value if nobody
knows about it? You\uc1\u8217Xve got to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {do some marketing and you\uc1\u8217Xve got
to}\fs24\cf0\f0\charscalex100 { do so with the right
message.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Effectively accessing customers is
generally the mo}\fs24\cf0\f0\charscalex100 {st difficult aspect of creating a
{business. In most cases, there are many differe}\fs24\cf0\f0\charscalex100 {nt
ways to access or market to your target}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {customers. However, the best methods for any given
company will vary greatly from }\par\pard\li1133\ri0\sl-280\slmult0
\fs22\cf0\f0\charscalex100 {business to business. Unfortunately there are few
\uc1\u8220X}\fs22\cf0\f0\charscalex100 {one size fits all\uc1\u8221X marketing
plans out there.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{You\uc1\u8217Xll have to decide which marketing and
adve}\fs24\cf0\f0\charscalex100 {rtising techniques apply best to your
specific}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {company
and target market.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {Much of
how you plan to market your soluti}\fs24\cf0\f0\charscalex100 {ons depends on your
budget. You have the same }\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {tradeoff issues of external cost, internal
headc}\fs24\cf0\f0\charscalex100 {ount, speed, and quality
in}\fs24\cf0\f0\charscalex100 { this area as you do}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {in all other areas of business. If
you\uc1\u8217Xre on }\fs24\cf0\f0\charscalex100 {a tight budget, you may want to do
some quick}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {searches
on the Internet for ways to cost-effect}\fs24\cf0\f0\charscalex100 {ively get the
word out. }\fs24\cf0\f0\charscalex100 {The Internet provides
a}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {wealth of
information and a variety of crea}\fs24\cf0\f0\charscalex100 {tive ideas for budget
marketers. Just remember}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {that not all ideas will apply to your
business }\fs24\cf0\f0\charscalex100 {and don\uc1\u8217Xt expect
miracles}\fs24\cf0\f0\charscalex100 {. Marketing takes
time }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {and effort as
well as a bit of experimenting with new or multiple ideas. Effectively
marketing}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {on a
shoestring budget may involve}\fs24\cf0\f0\charscalex100 { anything from
having one of}\fs24\cf0\f0\charscalex100 { your employees stand
in}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {front of your
store holding a }\fs24\cf0\f0\charscalex100 {sign to creating and passing
out }\fs24\cf0\f0\charscalex100 {coupons to networking at
local}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {business
events and more.}\par\pard\li1133\ri0\sl-213\slmult0
have a marketing budget you\uc1\u8217Xll need to deci}\fs24\cf0\f0\charscalex100
{de how much of that budget will be spent}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {on research to identify the best ways
to }\fs24\cf0\f0\charscalex100 {access your specific customers and how much
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {spend on less
targeted methods of advertising }\fs24\cf0\f0\charscalex100 {such as radio,
television, newspapers, etc. As}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {you proceed, it is important to keep up with
the }\fs24\cf0\f0\charscalex100 {trends in advertising. For example, it
wasn\uc1\u8217Xt}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{very long ago that telemarketing was extrem}\fs24\cf0\f0\charscalex100 {ely
popular and online marketing didn\uc1\u8217Xt even}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {exist. Today telemarketing is declining
rapidly }\fs24\cf0\f0\charscalex100 {and online advertising
is}\fs24\cf0\f0\charscalex100 { growing faster than}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {any other method.}\par\pard\li1133\ri0\sl-
{Another trend to be aware of is someth}\fs24\cf0\f0\charscalex100 {ing called
\uc1\u8220Xinvitational marketing.\uc1\u8221X Modern}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {technology is allowing the consumer to have
}\fs24\cf0\f0\charscalex100 {more and more control over advertising.
A}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\cols
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {world of
consumer-controlled media is starti}\fs24\cf0\f0\charscalex100 {ng to take over.
Adve}\fs24\cf0\f0\charscalex100 {rtisers are facing new}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {challenges in the light of TiVo, satellite
ra}\fs24\cf0\f0\charscalex100 {dio, spam/pop-up filters, and other methods
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {weeding out
traditional approaches}\fs24\cf0\f0\charscalex100 { to advertising. Instead of
being forced to see your ad,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {they often have options to avoid it
alt}\fs24\cf0\f0\charscalex100 {ogether, responding
instead}\fs24\cf0\f0\charscalex100 { to invitational, non-}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {intrusive advertising methods that place
them }\fs24\cf0\f0\charscalex100 {in charge. These include things like
search}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {engines,
shopping channels, portal websites}\fs24\cf0\f0\charscalex100 {, infomercials,
online presentations, etc.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Regardless
of which advertising techniques you }\fs24\cf0\f0\charscalex100 {choose, there are
a few general guidelines}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {that apply to most businesses today. Here
are }\fs24\cf0\f0\charscalex100 {a few of these guidelines to consider as
you}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {create your
messaging and engage in}\fs24\cf0\f0\charscalex100 { various marketing
activities:}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\i {Emotion is stronger than reasoning.}\i0 {
}\fs24\cf0\f0\charscalex100 {As strange as it may sound to some people, when
it}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {comes to
marketing, emotion and feelings ar}\fs24\cf0\f0\charscalex100 {e usually more
important than logic and}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {reasoning. This doesn\uc1\u8217Xt mean that logic and
reas}\fs24\cf0\f0\charscalex100 {oning aren\uc1\u8217Xt important. They definitely
are.}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {But when it
comes right down to it, people ge}\fs24\cf0\f0\charscalex100 {nerally buy something
be}\fs24\cf0\f0\charscalex100 {cause they feel good}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {about it. All other things being equal,
emotions}\fs24\cf0\f0\charscalex100 { will almost always win over logic. This
is}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {relatively easy
to substantiate by simply}\fs24\cf0\f0\charscalex100 { watching commercials on TV.
If you pay close}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{attention you\uc1\u8217Xll notic}\fs24\cf0\f0\charscalex100 {e that they usually
play on your em}\fs24\cf0\f0\charscalex100 {otions long before they say
anything}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{intelligent. Some types of commercials excel }\fs24\cf0\f0\charscalex100 {at this.
For example, many commercials will}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {simply show people having a good time or enjoying
themselves in some way. Then they flash}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {the brand of a product at the
e}\fs24\cf0\f0\charscalex100 {nd of the commercial. In some cases you have no idea
what the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {commercial
is even advertising until the end of }\fs24\cf0\f0\charscalex100 {it. Whatever your
marketing campaign is and}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {whatever your value proposition is, it
must}\fs24\cf0\f0\charscalex100 { \uc1\u8220Xfeel good\uc1\u8221X to
your }\fs24\cf0\f0\charscalex100 {potential customers.}\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\i {Think benefits instead of features.}\i0
{ }\fs24\cf0\f0\charscalex100 {As already discussed, people don\uc1\u8217Xt
generally buy things}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{because of all of the features}\fs24\cf0\f0\charscalex100 { or cool things about
your products. People want you to solve}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {some problem they have or make their
life}\fs24\cf0\f0\charscalex100 { better in some way. The tendency of
many}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {business
owners is to list a huge amount of f}\fs24\cf0\f0\charscalex100 {eatures that they
have worked very hard to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {create. However, these features are
usually }\fs24\cf0\f0\charscalex100 {meaningless unless you can break them down
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {simple benefits
that will change your prospect}\fs24\cf0\f0\charscalex100 {\uc1\u8217Xs life in
some meaningful way. This is}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {sometimes called the \uc1\u8220Xso what
factor.\uc1\u8221X \uc1\u8220XGreat, }\fs24\cf0\f0\charscalex100 {your product
sounds like it}\fs24\cf0\f0\charscalex100 { has a lot of
really}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {cool bells
and whistles. So what? What does that}\fs24\cf0\f0\charscalex100 { mean to
me?\uc1\u8221X Learn to answer this question}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {before they ask it. Rather than merely telling people}
{ }\fs24\cf0\f0\charscalex100\i {what}\i0 \fs24\cf0\f0\charscalex100 { they should
buy, tell them }\fs24\cf0\f0\charscalex100\i {why}\i0 \par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {they should by it.}\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\i {Keep up with the times}\i0 \fs24\cf0\f0\charscalex100
{. Methods of advertising have cha}\fs24\cf0\f0\charscalex100 {nged dramatically
over the years,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{especially in recent years. What used to work}\fs24\cf0\f0\charscalex100 { really
well 10 years ago may not be the most}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {effective method today. As
menti}\fs24\cf0\f0\charscalex100 {oned earlier, the Internet
provid}\fs24\cf0\f0\charscalex100 {es a great example of
this,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {not only
because of its rapid adoption as a market}\fs24\cf0\f0\charscalex100 {ing tool in
and of its}\fs24\cf0\f0\charscalex100 {elf, but also
because}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{the specific techniques of adve}\fs24\cf0\f0\charscalex100 {rtising on the
Internet have ch}\fs24\cf0\f0\charscalex100 {anged dramatically within
a}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {relatively short
period of time. For example, it us}\fs24\cf0\f0\charscalex100 {ed to be that things
like banner ads were the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {primary technique used to advertise on the
In}\fs24\cf0\f0\charscalex100 {ternet. Today this technique has been all
but}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {completely
replaced by search engine marketing }\fs24\cf0\f0\charscalex100 {and rich media
presentations. About 90% of}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {all Internet users worldwide now use
search }\fs24\cf0\f0\charscalex100 {engines to find what they\uc1\u8217Xre looking
for on the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Internet
and rich media is now used to convert}\fs24\cf0\f0\charscalex100 { more than double
the no}\fs24\cf0\f0\charscalex100 {rmal rate of website}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {visitors into new leads
and/or }\fs24\cf0\f0\charscalex100 {customers. If your company is
not}\fs24\cf0\f0\charscalex100 { listed in search engines
and}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\co
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {your
website isn\uc1\u8217Xt alluring enough to keep them}\fs24\cf0\f0\charscalex100
{ interested then you\uc1\u8217Xre simply allowing}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {business to walk out the
door.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100\i {Learn to aim well.}\i0
{ }\fs24\cf0\f0\charscalex100 {This simply means that your target customer will
generally have a certain}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {set of common characteristics. The more
precise}\fs24\cf0\f0\charscalex100 { you can be in tapping into that
specific}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {target
market rather than taki}\fs24\cf0\f0\charscalex100 {ng a shotgun approach that
includ}\fs24\cf0\f0\charscalex100 {es prospects outside of
that}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {group, the
better off you will be. If you\uc1\u8217Xve done }\fs24\cf0\f0\charscalex100 {a
good job of defining your target customer}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {then you should have a list of habits or
charact}\fs24\cf0\f0\charscalex100 {eristics that will allow you to be more
specific}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {in your
marketing approaches. Where do the deci}\fs24\cf0\f0\charscalex100 {sion makers
within your target market go to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {learn about the products they
want}\fs24\cf0\f0\charscalex100 { to buy? Again, there is no
one}\fs24\cf0\f0\charscalex100 { size fits all. Each
business}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {is
different in this respect. But if you want }\fs24\cf0\f0\charscalex100 {to get the
highest return on investment for your}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {marketing dollar, you\uc1\u8217Xve got to try to
restrict}\fs24\cf0\f0\charscalex100 { your marketing
efforts }\fs24\cf0\f0\charscalex100 {to only those
prospects}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {that
match the profile of your target custom}\fs24\cf0\f0\charscalex100 {er. This is
often easier said than done.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100\i {Find out
what your target customer }\i0 \fs24\cf0\f0\charscalex100\i {really wants and
provide it for them.}\i0 { }\fs24\cf0\f0\charscalex100 {You have to be
able}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {to address the
pain of your prospe}\fs24\cf0\f0\charscalex100 {cts. There are at least two
kinds}\fs24\cf0\f0\charscalex100 { of prospects in this
regard.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {There are
those who think they know what th}\fs24\cf0\f0\charscalex100 {eir pain is and
are }\fs24\cf0\f0\charscalex100 {actively looking for a}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {solution. Then there are those
who }\fs24\cf0\f0\charscalex100 {don\uc1\u8217Xt even know that they\uc1\u8217Xre
in}\fs24\cf0\f0\charscalex100 { pain to begin with and are}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {therefore not
actively }\fs24\cf0\f0\charscalex100 {searching for a solution. If
possi}\fs24\cf0\f0\charscalex100 {ble, marketing campaigns
should}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {address
these pains in such a }\fs24\cf0\f0\charscalex100 {way that you attract the
attentio}\fs24\cf0\f0\charscalex100 {n of both types of
prospects.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {You want
the active searchers to find your so}\fs24\cf0\f0\charscalex100 {lution to their
pain while finding ways to}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {communicate to the uninformed prospects that
th}\fs24\cf0\f0\charscalex100 {eir life could be so much better than it
is}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {right now. Most
people\uc1\u8217Xs pain can }\fs24\cf0\f0\charscalex100 {be identified fairly
quickly if you know what to look for.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {The pain your prospects feel will almost
always }\fs24\cf0\f0\charscalex100 {fall into one of the categories of cost,
effort,}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {speed, or
quality. Whether they realize it or not}\fs24\cf0\f0\charscalex100 {, all prospects
want lo}\fs24\cf0\f0\charscalex100 {wer costs, less
effort,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {faster
speed, and/or higher qual}\fs24\cf0\f0\charscalex100 {ity. Usually they want all
four of}\fs24\cf0\f0\charscalex100 { these benefits. It\uc1\u8217Xs just
not}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {very realistic
to expect all four }\fs24\cf0\f0\charscalex100 {of them within a single
solution.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\i {Brevity is better than lengthy
explanations.}\i0 { }\fs24\cf0\f0\charscalex100 {People will seldom read or hear a
lot of words.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{Whether you\uc1\u8217Xre talking about we}\fs24\cf0\f0\charscalex100 {bsites,
yellow page ads, bill}\fs24\cf0\f0\charscalex100 {boards, ads in your
storefront,}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {TV
commercials, or whatever, make it brief. }\fs24\cf0\f0\charscalex100 {Websites are
a great example of this. It is}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {estimated that you have an average of
seven }\fs24\cf0\f0\charscalex100 {seconds to attract
the }\fs24\cf0\f0\charscalex100 {attention of someone}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {visiting your website. Seven seconds! If
they don}\fs24\cf0\f0\charscalex100 {\uc1\u8217Xt see anything that interests them
within}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {those seven
seconds they will bounce off of your s}\fs24\cf0\f0\charscalex100 {ite and go to
the next }\fs24\cf0\f0\charscalex100 {site. This is
perhaps}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {the
strongest example of the need }\fs24\cf0\f0\charscalex100 {for effective
inv}\fs24\cf0\f0\charscalex100 {itational marketing.}\par\pard\li1133\ri0\sl-
{One of the most important messages you can creat}\fs24\cf0\f0\charscalex100 {e for
your business is a good tagline. It is}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {likely the one piece of communication that will be seen
every time someone encounters your}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {company. It should separate you from your
comp}\fs24\cf0\f0\charscalex100 {etition, express your
pe}\fs24\cf0\f0\charscalex100 {rsonality and add to}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {your branding and marketing campaigns. Here
are }\fs24\cf0\f0\charscalex100 {some questions to consider as you try
to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {create a good
tagline:}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {If someone found your business card on
the }\fs24\cf0\f0\charscalex100 {street, would they know exactly
what}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {your company
does?
(This generally only }\fs24\cf0\f0\charscalex100 {applies to your target
customer.)}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Could your main competitors use your
ta}\fs24\cf0\f0\charscalex100 {gline? (They shouldn\uc1\u8217Xt be able
to.)}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\c
\fs24\cf0\f0\charscalex100 {Does your tagline focus more on your company or your
customers? (It should focus}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {more on your customers than your
company.)}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Is your tagline catchy and
eas}\fs24\cf0\f0\charscalex100 {y to say? (It should be.)}\par\pard\li1493\ri0\sl-
{Does it use double meanings or a play on word}\fs24\cf0\f0\charscalex100 {s? (This
is usually }\fs24\cf0\f0\charscalex100 {a good thing as
long}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {as
it\uc1\u8217Xs not overly silly or sappy.)}\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {Is it mostly emotional or mostly
logical }\fs24\cf0\f0\charscalex100 {or both? (Having
both }\fs24\cf0\f0\charscalex100 {is usually best, if}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {possible.)}\par\pard\li1133\ri0\sl-
{Generally it\uc1\u8217Xs unreasonable to assume that your
ta}\fs24\cf0\f0\charscalex100 {gline will meet all of these criteria. But
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {more of them it
meets the better your message will be. Large, well known companies
can}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {generally get
away with}\fs24\cf0\f0\charscalex100 { taglines that are based
complete}\fs24\cf0\f0\charscalex100 {ly on emotion. For example,
shoe}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {maker
Nike\uc1\u8217Xs tagline is \uc1\u8220XJust Do It.\uc1\u8221X Pretty
mu}\fs24\cf0\f0\charscalex100 {ch the only purpose of th}\fs24\cf0\f0\charscalex100
{is tagline is to play}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {on the emotions of their target customer.
It }\fs24\cf0\f0\charscalex100 {does little to describe any benefit or
product.}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Most
companies don\uc1\u8217Xt fall into this category of}\fs24\cf0\f0\charscalex100
{ being so well known that they can have a}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {wholly emotional approach
to }\fs24\cf0\f0\charscalex100 {their tagline. For most
busines}\fs24\cf0\f0\charscalex100 {ses it is best if your
tagline}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {makes sense
and follows the basic rules outlined above.}\par\pard\li1133\ri0\sl-213\slmult0
also create a simple, direct \uc1\u8220Xele}\fs24\cf0\f0\charscalex100 {vator
pitch.\uc1\u8221X A good elevator pitch usually}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {involves telling someone about
your}\fs24\cf0\f0\charscalex100 { business in 30 seconds or
mu}\fs24\cf0\f0\charscalex100 {ch less. For example, at}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {10x Marketing we created an elevator pitch
that}\fs24\cf0\f0\charscalex100 { went something like this: \uc1\u8220XWe are
experts at}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {bringing
a steady stream of pre-qualified }\fs24\cf0\f0\charscalex100 {prospects to your
webs}\fs24\cf0\f0\charscalex100 {ite, converting those}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {prospects into new customers, thereby
increa}\fs24\cf0\f0\charscalex100 {sing your revenue in
sign}\fs24\cf0\f0\charscalex100 {ificant ways via your}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {Internet presence.\uc1\u8221X This one-
sentence explan}\fs24\cf0\f0\charscalex100 {ation would almost always generate
enough}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {interest to
keep the conv}\fs24\cf0\f0\charscalex100 {ersation going. The most common response
was, \uc1\u8220XHow do you do}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {that?\uc1\u8221X Now you\uc1\u8217Xve got them. They
are asking yo}\fs24\cf0\f0\charscalex100 {u for more information rather than
you}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {trying to force
something upon them. This }\fs24\cf0\f0\charscalex100 {elevator pitch was a great
door opener.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Once you\uc1\u8217Xve created a good
elevator pitch you can }\fs24\cf0\f0\charscalex100 {use this as the basis for many
other types}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {of
communications, not just verb}\fs24\cf0\f0\charscalex100 {al. For example, it can
be the }\fs24\cf0\f0\charscalex100 {first thing people read on
your}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {website or the
first paragraph of}\fs24\cf0\f0\charscalex100 { a brochure or other marketing
collateral. The point is that}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {you need to develop a quick way to convey
value }\fs24\cf0\f0\charscalex100 {to your potential customers. If they
aren\uc1\u8217Xt}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{able to quickly determine what value or benef}\fs24\cf0\f0\charscalex100 {it your
business provides then they are unlikely}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {to want to know more about
th}\fs24\cf0\f0\charscalex100 {e details of your business or
o}\fs24\cf0\f0\charscalex100 {fferings. When trying to
capture}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{prospects\uc1\u8217X attention you need}\fs24\cf0\f0\charscalex100 { to think in
terms of s}\fs24\cf0\f0\charscalex100 {econds, not minutes or
hours.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {I\uc1\u8217Xm always amazed at how many
ways there }\fs24\cf0\f0\charscalex100 {are to make money. Sometimes I drive
down}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {popular
streets and just notice all }\fs24\cf0\f0\charscalex100 {of the different types of
busin}\fs24\cf0\f0\charscalex100 {esses that exist. It\uc1\u8217Xs
truly}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {remarkable if
you think about it. I\uc1\u8217Xve become }\fs24\cf0\f0\charscalex100 {convinced
that you can sell almost any product}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {or service if you\uc1\u8217Xve got a
we}\fs24\cf0\f0\charscalex100 {ll-defined strategy, have
the }\fs24\cf0\f0\charscalex100 {right messaging, and have
an}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {effective way to
access your target customers with that message. Again, the most
difficult}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {part of
creating a successful business almost }\fs24\cf0\f0\charscalex100 {always involves
finding ways to
effectively}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrs
of Business}\i0
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {access
your target customers with the righ}\fs24\cf0\f0\charscalex100 {t message. If you
can accomplish this you will}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {likely become successful.}\par\pard\li1133\ri0\sl-
213\slmult0
373\slmult0 \fs24\cf0\f0\charscalex100\b \i {The Key Questions All Customers Want
to Know}\b0 \i0 \par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100
{Whether they realize it or not, }\fs24\cf0\f0\charscalex100 {every potential
customer wants }\fs24\cf0\f0\charscalex100 {exactly the same thing out
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {every purchase
they make. These basic desires }\fs24\cf0\f0\charscalex100 {can generally be boiled
down to the following}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {five questions:}\par\pard\li1493\ri0\sl-213\slmult0
{1.}\tab \fs24\cf0\f0\charscalex100 {How much do I get out of this
investment? }\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100\i
{(Usually this means quality, speed, and/or effort.)}\i0 \par\pard\li1493\ri0\sl-
\*\tx1853\fs24\cf0\f0\charscalex100 {2.}\tab \fs24\cf0\f0\charscalex100 {How much
do I have to put}\fs24\cf0\f0\charscalex100 { into this
investment?}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i
{(Usually this means cost and/or effort.)}\i0 \par\pard\li1493\ri0\sl-
\*\tx1853\fs24\cf0\f0\charscalex100 {3.}\tab \fs24\cf0\f0\charscalex100 {How much
do I lose by saying no? }\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\i {(This may involve any of the four corn}\i0
\fs24\cf0\f0\charscalex100\i {erstones including cost, quality, speed, or}\i0
\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100\i {effort.)}\i0
\*\tx1853\fs24\cf0\f0\charscalex100 {4.}\tab \fs24\cf0\f0\charscalex100 {How soon
do I recover my investment? }\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100\i {(Usually this means the speed at which they }\i0
\fs24\cf0\f0\charscalex100\i {will realize the benefits or value of what}\i0
\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {you\uc1\u8217Xre
selling.) }\i0 \par\pard\li1493\ri0\sl-213\slmult0
{5.}\tab \fs24\cf0\f0\charscalex100 {If I don\uc1\u8217Xt like it once
I\uc1\u8217Xm into it, how soon can I get out? }\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\i {(Usually this involves how much they have }\i0
\fs24\cf0\f0\charscalex100\i {to risk in order to try your solution.) }\i0
\fs24\cf0\f0\charscalex100 {This may sound simplistic at first, but once
you }\fs24\cf0\f0\charscalex100 {think it through and experiment with
these}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {five
questions, you\uc1\u8217Xll find that almost every pros}\fs24\cf0\f0\charscalex100
{pect you talk to will ask some form of these}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {five questions before every purchase they
make. (By the way, so do you.) They will ask them }\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {in different ways,
using }\fs24\cf0\f0\charscalex100 {different terminology, but the basic
i}\fs24\cf0\f0\charscalex100 {ssues will almost always be
the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {same. If you
can answer these fi}\fs24\cf0\f0\charscalex100 {ve questions right upfront,
before}\fs24\cf0\f0\charscalex100 { they even have a chance
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {ask them,
you\uc1\u8217Xll greatly improve your odds of making the
sale.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {The answers to these questions can be
communi}\fs24\cf0\f0\charscalex100 {cated in numerous ways. It can be part
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {your one-on-one
sales approach or part of }\fs24\cf0\f0\charscalex100 {your overall marketing
campaign. But sooner or}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {later, you\uc1\u8217Xll need to address them in a way
th}\fs24\cf0\f0\charscalex100 {at appeals to your ta}\fs24\cf0\f0\charscalex100
{rget customers, both}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {emotionally and logically.}\par\pard\li1133\ri0\sl-
{In general, most businesses focus on the fi}\fs24\cf0\f0\charscalex100 {rst two
questions. \uc1\u8220XWhat am I selling and how}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {much does it cost?\uc1\u8221X If you don\uc1\u8217Xt
c}\fs24\cf0\f0\charscalex100 {over those two issues it\uc1\u8217Xs
pretty}\fs24\cf0\f0\charscalex100 { tough to make a sale of
any}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {kind. However,
most businesses fall short when it}\fs24\cf0\f0\charscalex100 { comes to addressing
the last three issues.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {As a potential customer, my level of comfort
a}\fs24\cf0\f0\charscalex100 {nd confidence will be greatly increased if,
in}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {addition to the
first two questions, you can give}\fs24\cf0\f0\charscalex100 { me good answers to
the last three. In many}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {cases, your customers won\uc1\u8217Xt even consciously
th}\fs24\cf0\f0\charscalex100 {ink of bringing up those issues, but they
will}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {always be more
impressed and more likely to}\fs24\cf0\f0\charscalex100 { buy if you bring them up
and provide answers}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{for
them.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\
466\slmult0 \fs24\cf0\f0\charscalex100 {Even though they may not
verb}\fs24\cf0\f0\charscalex100 {alize them, customers
always }\fs24\cf0\f0\charscalex100 {have these questions
lurking}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100 {somewhere
in their minds. Generally, one of th}\fs22\cf0\f0\charscalex100 {e questions will
be more important to your}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {prospects than the others. You need to
iden}\fs24\cf0\f0\charscalex100 {tify and prioritize the importance of
these}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {questions as
they apply to your}\fs24\cf0\f0\charscalex100 { target customers. Which one is
their biggest hot button? }\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {For
business-to-business (B-to-B) transactions, }\fs24\cf0\f0\charscalex100 {questions
three and four are almost always}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {about money. They generally want to know
how }\fs24\cf0\f0\charscalex100 {much money they will lose (either
through}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {savings or
increase) and how long it will take them}\fs24\cf0\f0\charscalex100 { to get that
return on their investment. If}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {you can answer these questions from a
monetary}\fs24\cf0\f0\charscalex100 { perspective (benefit or \uc1\u8220Xso what
factor\uc1\u8221X)}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{rather than a features perspective, you\uc1\u8217Xll be}\fs24\cf0\f0\charscalex100
{ far more successful. Again, the bottom line for}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {most businesses is that you must either
help th}\fs24\cf0\f0\charscalex100 {em to save money or help them to make
more}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {money.
That\uc1\u8217Xs what all businesses are (or shou}\fs24\cf0\f0\charscalex100 {ld
be) interested in. If you can\uc1\u8217Xt accomplish}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {one of these two goals then you may
ha}\fs24\cf0\f0\charscalex100 {ve nothing of value to a
333\slmult0 \fs24\cf0\f0\charscalex100 {As mentioned earlier,
consumers }\fs24\cf0\f0\charscalex100 {(B-to-C) are a different
stor}\fs24\cf0\f0\charscalex100 {y. Consumers aren\uc1\u8217Xt
generally}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {buying
something in order to make more mone}\fs24\cf0\f0\charscalex100 {y and they
sometimes don\uc1\u8217Xt even care about}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {saving money. For example, their concerns may
d}\fs24\cf0\f0\charscalex100 {eal more with perceived quality rather
than}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {cost, speed, or personal effort. Or they may
si}\fs24\cf0\f0\charscalex100 {mply want something fast, regardless of
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {other factors
involved. When a consumer asks}\fs24\cf0\f0\charscalex100 { these five questions
they are generally}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{struggling with how something is going to make}\fs24\cf0\f0\charscalex100 { their
lives more enjoyable or meaningful.}\par\pard\li1133\ri0\sl-266\slmult0
\fs22\cf0\f0\charscalex100 {Instead of a simple monetary issue,
consumer}\fs22\cf0\f0\charscalex100 {s usually want to know how their purchase
will}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {either
\uc1\u8220Xease their pain\uc1\u8221X by eliminating some
per}\fs24\cf0\f0\charscalex100 {ceived negative in
their }\fs24\cf0\f0\charscalex100 {life or improve their}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {quality of life by introducing some new
positive in}\fs24\cf0\f0\charscalex100 {to their life. This may involve any of
the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {four
cornerstones of business. You need to id}\fs24\cf0\f0\charscalex100 {entify what
your target customers value the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {most and answer these five questions
in }\fs24\cf0\f0\charscalex100 {a way that appeals specifically to
333\slmult0 \fs24\cf0\f0\charscalex100 {Depending on your particular business, you
probab}\fs24\cf0\f0\charscalex100 {ly have specific strengths and
weaknesses}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{regarding each of these five questions. It is }\fs24\cf0\f0\charscalex100
{important that you identi}\fs24\cf0\f0\charscalex100 {fy those strengths
and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {weaknesses. It
is also impor}\fs24\cf0\f0\charscalex100 {tant that you take
measures }\fs24\cf0\f0\charscalex100 {to overcome any weaknesses
you}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {may have in
these areas. For example, if ther}\fs24\cf0\f0\charscalex100 {e\uc1\u8217Xs no way
that a customer can \uc1\u8220Xget out\uc1\u8221X once}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {they determine to do business with you,
then you}\fs24\cf0\f0\charscalex100 { ought to either be thinking about ways
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {make that happen
in the future or how you\uc1\u8217Xre goi}\fs24\cf0\f0\charscalex100 {ng to explain
this if it ever comes up. This}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {may sound counterintuitive to some
businesses,}\fs24\cf0\f0\charscalex100 { but if you communicate these advantages
to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {your prospects
properly this will}\fs24\cf0\f0\charscalex100 { serve you well in the long
run.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Wal-Mart is a great example of answering
ques}\fs24\cf0\f0\charscalex100 {tion #5 before the customer even starts
the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {buying process.
Wal-Mart allows their customers }\fs24\cf0\f0\charscalex100 {to easily get out once
th}\fs24\cf0\f0\charscalex100 {ey\uc1\u8217Xre into it. One
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the great things
about Wal-Mart }\fs24\cf0\f0\charscalex100 {that helps them
bette}\fs24\cf0\f0\charscalex100 {r target the budget customer is that
they}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {have a very
liberal return }\fs24\cf0\f0\charscalex100 {policy. Basically, if you
don\uc1\u8217Xt li}\fs24\cf0\f0\charscalex100 {ke what you bought for any
reason}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {you can
return it for a full refund\uc1\u8230XANY reason. Y}\fs24\cf0\f0\charscalex100 {our
fault, their fault, or nobody\uc1\u8217Xs fault -}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {they generally don\uc1\u8217Xt care. What
affect do you }\fs24\cf0\f0\charscalex100 {think that return
po}\fs24\cf0\f0\charscalex100 {licy has had on their}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {customers\uc1\u8217X buying habits? How
much consumer}\fs24\cf0\f0\charscalex100 { confidence do you
think }\fs24\cf0\f0\charscalex100 {that instills into}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {people who are largely
interested}\fs24\cf0\f0\charscalex100 { in watching how they
spend }\fs24\cf0\f0\charscalex100 {their money? It has a
huge}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {effect. And it
works! You usually }\fs24\cf0\f0\charscalex100 {don\uc1\u8217Xt see long lines of
customer}\fs24\cf0\f0\charscalex100 {s waiting to return things
at}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Wal-Mart.
However, because of this policy Wal-Mart customers are not only
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413\slmult0 \fs24\cf0\f0\charscalex100 {comfortable buying things they\uc1\u8217Xre
not sure about, }\fs24\cf0\f0\charscalex100 {they also tend to buy more and they
tend to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {keep what
they buy. The customer\uc1\u8217Xs level of }\fs24\cf0\f0\charscalex100 {buying
comfort increases dramatically because}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {Wal-Mart has answered question
#5 }\fs24\cf0\f0\charscalex100 {before they even begin to
shop.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs22\cf0\f0\charscalex100 {Again, your particular types of customers
will lik}\fs22\cf0\f0\charscalex100 {ely value some of these questions more
than}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {they value
others. In additi}\fs24\cf0\f0\charscalex100 {on, your specific business and
the }\fs24\cf0\f0\charscalex100 {strategy you choose will
likely}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {lend itself
to some of these }\fs24\cf0\f0\charscalex100 {questions better than others.
Y}\fs24\cf0\f0\charscalex100 {ou need to either align your}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {business with your customers\uc1\u8217X
needs or, at the }\fs24\cf0\f0\charscalex100 {very least, come up with good
explanations}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {that
will ease their pain concerning those quest}\fs24\cf0\f0\charscalex100 {ions for
which you have }\fs24\cf0\f0\charscalex100 {the weakest
answers.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100\i {EXERCISE: How Does Your Business Address
These Five Questions?}\i0 \par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {Try to determine how your business answers
thes}\fs24\cf0\f0\charscalex100 {e five basic
questions. }\fs24\cf0\f0\charscalex100 {If possible, try not
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100 {think in terms
of service, product, or feature. Tr}\fs22\cf0\f0\charscalex100 {y to think in terms
of value or benefits. Try to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {determine how you would answer these five
questi}\fs24\cf0\f0\charscalex100 {ons if a prospect or customer asked
them }\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {directly to
your face. Then tr}\fs24\cf0\f0\charscalex100 {y to identify which questions
are }\fs24\cf0\f0\charscalex100 {the most important to or
most}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {frequently
asked by your target customers. }\fs24\cf0\f0\charscalex100 {Prioritize these
five }\fs24\cf0\f0\charscalex100 {questions from most}\par\pard\li1133\ri0\sl-
280\slmult0 \fs22\cf0\f0\charscalex100 {important to least important to your target
cust}\fs22\cf0\f0\charscalex100 {omers. Keep in mind that almost everyone
will}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {ask about cost
(question #2). However,}\fs24\cf0\f0\charscalex100 { that may not be the real
issue.}{ }\fs24\cf0\f0\charscalex100\i {Cost is usually}\i0
\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {irrelevant when
solid value can be demonstrated.}\i0 \par\pard\li1133\ri0\sl-213\slmult0
following table may help you with this
exercise:}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn
133\cols3\colno1\colw4746\colsr-0\colno2\colw2373\colsr-
346\slmult0 \fs24\cf0\f0\charscalex100\b {Customer\uc1\u8217Xs Direct}\b0
\par\pard\li1920\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100\b {Questions}\b0
\fs24\cf0\f0\charscalex100 {How much do I get out of}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {this investment?}\par\pard\li1133\ri0\sl-
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {How much
do I have to put}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{into this investment?}\par\pard\li1133\ri0\sl-213\slmult0
413\slmult0 \fs24\cf0\f0\charscalex100 {How much do I lose
by}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {saying
no? }\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
{How soon do I recover my}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {investment?}\par\pard\li1133\ri0\sl-213\slmult0
413\slmult0 \fs24\cf0\f0\charscalex100 {If I don\uc1\u8217Xt like it once
I\uc1\u8217Xm }\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {into
it, how soon can I get}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {out? }\par\pard\li1133\ri0\sl-213\slmult0
413\slmult0 \fs20\cf0\f0\charscalex100\i {Positioning Your Business}\i0
{My Answers}\b0 \par\column\pard\li0\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li0\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100\b {Relative
Importance to}\b0 \par\pard\li453\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100\b
{My Customers}\b0 \par\pard\li1906\ri0\sl-213\slmult0
226\slmult0 \fs20\cf0\f0\charscalex100\i {Page 55}\i0
ect\sectd\sbkpage{\shp
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413\slmult0 \fs24\cf0\f0\charscalex100 {Once you\uc1\u8217Xve prioritized these
questions, see if ther}\fs24\cf0\f0\charscalex100 {e are any definite
tren}\fs24\cf0\f0\charscalex100 {ds that merit special}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {attention. Remember that you cannot be all
things}\fs24\cf0\f0\charscalex100 { to all people. Your }\fs24\cf0\f0\charscalex100
{business will be better}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {able to answer some of these questions
than }\fs24\cf0\f0\charscalex100 {others. You need to learn how to emphasize
your}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {strengths
while compensating for or downplay}\fs24\cf0\f0\charscalex100 {ing your weaknesses.
Write down a list of}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{possible answers for those questions in which }\fs24\cf0\f0\charscalex100 {your
business or product }\fs24\cf0\f0\charscalex100 {may be
particularly}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {weak.
How do you compensate for your weaknesse}\fs24\cf0\f0\charscalex100 {s in one or
more }\fs24\cf0\f0\charscalex100 {of these areas? Why}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {should a customer still buy from you
instea}\fs24\cf0\f0\charscalex100 {d of your competition in spite of
those}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{weaknesses?}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\b \i {The Path of Most Communication}\b0 \i0
\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {In most cases a
prospect\uc1\u8217Xs first encounter with your company will be short \uc1\u8211X
usually only a}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {few
seconds. In general, it\uc1\u8217Xs only after
they\uc1\u8217Xv}\fs24\cf0\f0\charscalex100 {e become interested in the benefits of
your}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {business that
they will begin to read or lis}\fs24\cf0\f0\charscalex100 {ten to longer messages
about what you have to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {offer, how many cool features your product
has,}\fs24\cf0\f0\charscalex100 { or how you provide the benefits they
seek.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Because of
this it is vital that you create some }\fs24\cf0\f0\charscalex100 {initial messages
that are short, to the point, and}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {convey value or benefits
that }\fs24\cf0\f0\charscalex100 {can be easily understood and
dige}\fs24\cf0\f0\charscalex100 {sted by potential
customers.}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {In this
sense, your short messages, such as tag}\fs24\cf0\f0\charscalex100 {lines, elevator
pitches, }\fs24\cf0\f0\charscalex100 {or the answers to
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {five key
questions, are much more im}\fs24\cf0\f0\charscalex100 {portant than your longer
explanations.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {As the illustration below suggests, most
prospe}\fs24\cf0\f0\charscalex100 {cts will start out wanting to know the
basics}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {about your
business. They tend to start at the t}\fs24\cf0\f0\charscalex100 {op of this
pyramid and work their way down. It}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {does no good for a prospect to read about
how}\fs24\cf0\f0\charscalex100 { you provide your solution until after
they}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {know what you
provide and whet}\fs24\cf0\f0\charscalex100 {her or not it is a
possibl}\fs24\cf0\f0\charscalex100 {e solution to their
problem.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn1
706\slmult0 \fs44\cf0\f0\charscalex100\b {Who}\b0 \par\pard\li3746\ri0\sl-
\fs44\cf0\f0\charscalex100\b {What}\b0 \par\pard\li3746\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li3746\ri0\sl-600\slmult0 \fs42\cf0\f0\charscalex100\b {What}\b0
\fs18\cf0\par\pard\li0\ri0\sl-613\slmult0 \fs44\cf0\f4\charscalex100 {Company
Name}\par\pard\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-600\slmult0
\fs44\cf0\f4\charscalex100 { Tagline}\par\pard\li0\ri0\sl-213\slmult0
{ Elevator
Pitch}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\
{What/How}\b0 \par\column\pard\li0\ri0\sl-720\slmult0 \fs44\cf0\f4\charscalex100 {
The 5
Questions}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn
133\cols3\colno1\colw3840\colsr-0\colno2\colw1213\colsr-
600\slmult0 \fs44\cf0\f0\charscalex100\b {How}\b0 \par\column\pard\li0\ri0\sl-
706\slmult0 \fs44\cf0\f4\charscalex100 { Other
Messages}\par\pard\li2640\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li2640\ri0\sl-
{Unfortunately many companies, including some }\fs24\cf0\f0\charscalex100
{experienced sales and marketing people, will}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {spend most of their time creating lengthy
me}\fs24\cf0\f0\charscalex100 {ssages that go into great detail about
their }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {products or
services and neglect the shorter me}\fs24\cf0\f0\charscalex100 {ssages that entice
people to read these longer}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {communications. Or they will dive right into
a }\fs24\cf0\f0\charscalex100 {discussion about all of the features of
their}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {products and
services without ev}\fs24\cf0\f0\charscalex100 {er really addressing the
value }\fs24\cf0\f0\charscalex100 {or benefits those
features}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {provide.
This often results in a prospect reje}\fs24\cf0\f0\charscalex100 {cting your
message before you even get started.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {They either lose interest or get lost in
the }\fs24\cf0\f0\charscalex100 {feature discussion
rather }\fs24\cf0\f0\charscalex100 {than seeing the
immediate}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {value
proposition, which is the re}\fs24\cf0\f0\charscalex100 {al reason they are
interested }\fs24\cf0\f0\charscalex100 {in your offerings in the
first}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{place.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\b \i {The Benefits of Partnering}\b0 \i0
\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {One of the best
ways to access customers is via st}\fs24\cf0\f0\charscalex100 {rategic partners. I
think }\fs24\cf0\f0\charscalex100 {it\uc1\u8217Xs safe to say
that}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {most, if not
all, very successful businesses to}\fs24\cf0\f0\charscalex100 {day use strategic
partners to accomplish a large}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {part of how they do business. What
would }\fs24\cf0\f0\charscalex100
{Microsoft be without OEMs or development}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {partners? In fact, it could
be }\fs24\cf0\f0\charscalex100 {argued that Microsoft exists
be}\fs24\cf0\f0\charscalex100 {cause of a simple
partnership}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{originally created with IB}\fs24\cf0\f0\charscalex100 {M to bundle DOS with the
pers}\fs24\cf0\f0\charscalex100 {onal PC. IBM itself has
an}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {extremely large
partnering initiative called \uc1\u8220XP}\fs24\cf0\f0\charscalex100
{artnerWorld\uc1\u8221X that consumes over 1,000 pages}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {on their website and includes regular
conferen}\fs24\cf0\f0\charscalex100 {ces, seminars, workshops, webcasts,
marketing}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {events,
and much more. Pick a successful co}\fs24\cf0\f0\charscalex100 {mpany today and I
believe you\uc1\u8217Xll find a large}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {initiative focused on successful, long-term
partnering.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Needless to say, I\uc1\u8217Xm a big
believer in partneri}\fs24\cf0\f0\charscalex100 {ng. And you don\uc1\u8217Xt have
to be a big company to}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {partner successfully. The
basi}\fs24\cf0\f0\charscalex100 {c premise of partnering is, \uc1\u8220XNever do
for yourself what}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{someone else can do for you more efficien}\fs24\cf0\f0\charscalex100
{tly.\uc1\u8221X When I say \uc1\u8220Xefficiently\uc1\u8221X I
mean}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {accomplishing
some important aspect of your business with lower internal effort,
lower}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {external
cost, faster speed, or }\fs24\cf0\f0\charscalex100 {higher quality. At least one of
th}\fs24\cf0\f0\charscalex100 {e four cornerstones should
be}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {enhanced because
of the partnership; otherwise }\fs24\cf0\f0\charscalex100 {the partnership will be
of limited or no value}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {to your business.}\par\pard\li1133\ri0\sl-
{In this sense, partnering should probably be vi}\fs24\cf0\f0\charscalex100 {ewed
as more of an internal issue than an}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {external one. The real reason
you }\fs24\cf0\f0\charscalex100 {should partner is to compensate for some internal
weakness}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {or to
better support your }\fs24\cf0\f0\charscalex100 {strategy in specific areas such
as}\fs24\cf0\f0\charscalex100 { sales, production,
manufacturing,}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{marketing, development, etc. However, sinc}\fs24\cf0\f0\charscalex100 {e
partnering uses external resources to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {accomplish some internal goal, you need to
trea}\fs24\cf0\f0\charscalex100 {t it a little differently than you would
treat}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {most internal
issues. Perhaps the most notable}\fs24\cf0\f0\charscalex100 { difference is that
you are not in complete}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {control of your partners.}\par\pard\li1133\ri0\sl-
{Ironically, the biggest problem most companies }\fs24\cf0\f0\charscalex100
{encounter with successful partnering deals}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {with shortsightedness on the part of the
bus}\fs24\cf0\f0\charscalex100 {iness leaders involved. Many business
leaders}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {have rather
large egos and, in}\fs24\cf0\f0\charscalex100 {terestingly enough, are fairly
ins}\fs24\cf0\f0\charscalex100 {ecure. If you\uc1\u8217Xre a control
freak,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {have
difficulty trusting others, }\fs24\cf0\f0\charscalex100 {or are only interested in
a one}\fs24\cf0\f0\charscalex100 {-sided relationship, as
many}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {business
leaders are, successful partnering will }\fs24\cf0\f0\charscalex100 {likely be
difficult for you. But if you want to}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {build a truly great business,
st}\fs24\cf0\f0\charscalex100 {rategic partnering should
become}\fs24\cf0\f0\charscalex100 { a large part of your
thought}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {process and
overall strategy. Don\uc1\u8217Xt let your petty }\fs24\cf0\f0\charscalex100
{insecurities, comfort zones, and self-interest}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {destroy the opportunity to grow
your}\fs24\cf0\f0\charscalex100 { business via strategic
partners.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn
466\slmult0 \fs24\cf0\f0\charscalex100 {I once heard a great example of successful
part}\fs24\cf0\f0\charscalex100 {nering that illustrates this principle.
It}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {involved a
company that sold educational produc}\fs24\cf0\f0\charscalex100 {ts on the
Internet. They spent a lot of time}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {and effort building a strategy that focused on
ge}\fs24\cf0\f0\charscalex100 {tting a high volume of qualified traffic
to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {their website on
a regular basis. To this e}\fs24\cf0\f0\charscalex100 {nd they were very
successful. Droves of people}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {searching the Internet for
educ}\fs24\cf0\f0\charscalex100 {ational products visite}\fs24\cf0\f0\charscalex100
{d their site on a regular basis. But few}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {sales resulted from that traffic. Upon
furt}\fs24\cf0\f0\charscalex100 {her investigation and experimentation,
they}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {discovered
that most of the visitors to their }\fs24\cf0\f0\charscalex100 {site were actively
tryi}\fs24\cf0\f0\charscalex100 {ng to find one of their}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {competitor\uc1\u8217Xs products. When they
didn\uc1\u8217Xt find it }\fs24\cf0\f0\charscalex100 {on their website, they simply
bounced off and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{continued their online search}\fs24\cf0\f0\charscalex100 { elsewhere until they
found what they were looking for.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {For most
business leaders this would have been}\fs24\cf0\f0\charscalex100 { fairly
discouraging and would have likely}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {resulting in a new campaign designed to
dow}\fs24\cf0\f0\charscalex100 {nplay or kill the competition. However,
by}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {putting his
petty ego aside and thinking outside }\fs24\cf0\f0\charscalex100 {the box, this
particular}\fs24\cf0\f0\charscalex100 { business leader
found}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {a much easier
and faster way for his business to succeed. He met with his competition
and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {formed a
partnership to resell their products}\fs24\cf0\f0\charscalex100 { on his website.
Basically, he had what they}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {wanted (access to customers) and they had
what}\fs24\cf0\f0\charscalex100 { he wanted (a desira}\fs24\cf0\f0\charscalex100
{ble product). Since both}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {companies were targeting the same types of
cu}\fs24\cf0\f0\charscalex100 {stomers, this developed into a very
solid}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {relationship.
By combining efforts and em}\fs24\cf0\f0\charscalex100 {phasizing the best parts of
both companies}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{everybody won. Each partner made more money }\fs24\cf0\f0\charscalex100 {and the
customers found what they were}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {looking for more quickly and easily than
before. }\fs24\cf0\f0\charscalex100 {There was no ego, no insecurity or
distrust,}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {and all three parties benefited
from }\fs24\cf0\f0\charscalex100 {the arrangement in meaningful
ways.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Notice also in this example that the three
circ}\fs24\cf0\f0\charscalex100 {les of business
strategy }\fs24\cf0\f0\charscalex100 {were clearly
present.}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {One
company contributed desirable products a}\fs24\cf0\f0\charscalex100 {nd services,
the other company contributed a}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {great way to access customers, and both
companie}\fs24\cf0\f0\charscalex100 {s were targeting the same customer
types}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {and needs.
Yet, each company had a different st}\fs24\cf0\f0\charscalex100 {rategy when it
came to this partnership \uc1\u8211X one}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {emphasizing products and the other
emphasizing }\fs24\cf0\f0\charscalex100 {access to customers. In today\uc1\u8217Xs
economy }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {this often
results in one partner }\fs24\cf0\f0\charscalex100 {trying to acquire the other.
Bu}\fs24\cf0\f0\charscalex100 {t, regardless of which
partner}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {you are,
you are in the driver\uc1\u8217Xs seat because}\fs24\cf0\f0\charscalex100 { you
have something of value to the other}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {company.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {Jiffy Lube
is a good example of successful partne}\fs24\cf0\f0\charscalex100 {ring. Jiffy Lube
produces few, if any, of the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {products they sell. Yet, through strategic
partne}\fs24\cf0\f0\charscalex100 {rships with companies like Penzoil and
Fram,}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {they are able
to run a services }\fs24\cf0\f0\charscalex100 {business with very effective
results}\fs24\cf0\f0\charscalex100 {. It is a core element of
their}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {strategy and
it works. In this case, Penzoil a}\fs24\cf0\f0\charscalex100 {nd Fram have
desirable products and Jiffy Lube}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {has access to the right kinds of
customers. }\fs24\cf0\f0\charscalex100 {Everybody wins because of these
relationships.}\par\pard\li1133\ri0\sl-213\slmult0
purpose of successful partnering is simple}\fs24\cf0\f0\charscalex100 {: to find
synergistic companies and use their}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {strengths and resources to achieve your
cor}\fs24\cf0\f0\charscalex100 {porate goals. However, it is important
to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {remember that
the definition of \uc1\u8220Xsynergistic\uc1\u8221X }\fs24\cf0\f0\charscalex100 {is
not only what someone else can do for you.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {There obviously must be something in it for them as
well, and you must live up to your end}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {of the arrangement if the partnership
is }\fs24\cf0\f0\charscalex100 {going to succeed. It must be a win-win-
win}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {relationship
for you, your partners, and for the cu}\fs24\cf0\f0\charscalex100 {stomer. The goal
should always be to build}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {a long-term partnership
that }\fs24\cf0\f0\charscalex100 {helps each company better
meet}\fs24\cf0\f0\charscalex100 { the needs of the
customer.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Usually
this means to better accomplish the four cornerstones of business (cost,
quality,}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn1
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
413\slmult0 \fs24\cf0\f0\charscalex100 {speed, and effort) in such a way that it
supports}\fs24\cf0\f0\charscalex100 { an overall business strategy (e.g. one of
the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {three circles
of business strategy).}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {By
creating successful partne}\fs24\cf0\f0\charscalex100 {rships you\uc1\u8217Xll find
that you can }\fs24\cf0\f0\charscalex100 {better emphasize what you
do}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {well while
compensating for the things you don\uc1\u8217X}\fs24\cf0\f0\charscalex100 {t do
well. Your business will become more}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {efficient and more competitive without taking the added
time or spending the extra money}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {usually necessary to do so.
Su}\fs24\cf0\f0\charscalex100 {ccessful partnering can
catapult }\fs24\cf0\f0\charscalex100 {your business forward in
ways}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {that otherwise
would not be possible.}\par\pard\li1133\ri0\sl-213\slmult0
373\slmult0 \fs24\cf0\f0\charscalex100\b {Creating The \uc1\u8220XWin-Win-
Win\uc1\u8221X}\b0 \fs24\cf0\f0\charscalex100\b { }\b0 \par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Everybody\uc1\u8217Xs heard of the value of
\uc1\u8220Xwin-win\uc1\u8221X }\fs24\cf0\f0\charscalex100 {relationships. If only
one side of any}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{relationship wins, then somebody }\fs24\cf0\f0\charscalex100 {loses and the
relationship is }\fs24\cf0\f0\charscalex100 {inevitably doomed to
failure.}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {When it
comes to creating good business partnershi}\fs24\cf0\f0\charscalex100 {ps, you must
take this principle one step}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {further by creating a \uc1\u8220Xwin-win-
w}\fs24\cf0\f0\charscalex100 {in\uc1\u8221X relationship. If a
partne}\fs24\cf0\f0\charscalex100 {rship doesn\uc1\u8217Xt create
obvious}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {advantages
for your company, your partner, }\fs24\cf0\f0\charscalex100 {AND the customer it
will eventually fail.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {There are
some basic rules involved with cr}\fs24\cf0\f0\charscalex100 {eating a win-win-win
relationship. To some }\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {extent these rules involve little more
than }\fs24\cf0\f0\charscalex100 {common sense. Yet, it is amazing how
often}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {partnerships
fail because one or both partners can}\fs24\cf0\f0\charscalex100 {\uc1\u8217Xt live
by these simple rules. In a nutshell,}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {here are the rules to building a good
relationship:}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100\i {Don\uc1\u8217Xt be selfish.}\i0
{ }\fs24\cf0\f0\charscalex100 {If you\uc1\u8217Xre in it only for yourself,
you\uc1\u8217Xll soon find that you\uc1\u8217Xve been left
to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {yourself. While
being careful that your compa}\fs24\cf0\f0\charscalex100 {ny will win from the
relationship, you need to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {be equally concerned that
your }\fs24\cf0\f0\charscalex100 {partner and the customer will win as well.
Don\uc1\u8217Xt allow any}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {problem to become insurmountable. Whenever
c}\fs24\cf0\f0\charscalex100 {onflicts exist, as they always will,
both}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {parties have
to be willing to sacrifice someth}\fs24\cf0\f0\charscalex100 {ing in order to make
the relationship work. In}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {general, we humans hate the word
\uc1\u8220Xsacrifice.\uc1\u8221X }\fs24\cf0\f0\charscalex100 {Let\uc1\u8217Xs face
it. It\uc1\u8217Xs no fun }\fs24\cf0\f0\charscalex100 {to sacrifice. And
yet}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {most success in
life is based on giving up one th}\fs24\cf0\f0\charscalex100 {ing in order to
obtain something of greater}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {value. Successful partnerships are no
different.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\i {Think long-term, not short-term.}\i0
{ }\fs24\cf0\f0\charscalex100 {While there may be some
part}\fs24\cf0\f0\charscalex100 {nerships that are
expressly}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {intended
to be short-lived, most}\fs24\cf0\f0\charscalex100 { are not. Good partnerships
ar}\fs24\cf0\f0\charscalex100 {e always designed to
provide}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {long-term
benefits to partners and customers al}\fs24\cf0\f0\charscalex100 {ike. If a
partnership doesn\uc1\u8217Xt look sustainable}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {for the long haul, then it may
not }\fs24\cf0\f0\charscalex100 {be worth your effort to
engage }\fs24\cf0\f0\charscalex100 {in it. Partnerships are
often}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {difficult and
take a lot of time. Only invest in}\fs24\cf0\f0\charscalex100 { those that are
worthy of}\fs24\cf0\f0\charscalex100 { that time and
effort.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\i {Don\uc1\u8217Xt be controlling.}\i0
{ }\fs24\cf0\f0\charscalex100 {This is a good one. Most business
l}\fs24\cf0\f0\charscalex100 {eaders are controlling. Sorry,
that\uc1\u8217Xs}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{just the way it is. \uc1\u8220XMy way or the
highway\uc1\u8221X}\fs24\cf0\f0\charscalex100 { has been the motto of many a
\uc1\u8220Xsuccessful\uc1\u8221X}\par\pard\li1133\ri0\sl-280\slmult0
\fs22\cf0\f0\charscalex100 {businessperson. The real dilemma here is
that }\fs22\cf0\f0\charscalex100 {most successful business leaders are right a
lot}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {of the time.
They tend to make good decisions}\fs24\cf0\f0\charscalex100 { on a regular
basis.}\fs24\cf0\f0\charscalex100 { That\uc1\u8217Xs why
they\uc1\u8217Xre}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{successful. It\uc1\u8217Xs hard to give in when the
way }\fs24\cf0\f0\charscalex100 {you\uc1\u8217Xve done things has generally worked
in the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {past. Well,
here\uc1\u8217Xs some news for you, the busines}\fs24\cf0\f0\charscalex100 {s
leader on the other side of the table feels}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {exactly the same way about themselves.
They\uc1\u8217Xv}\fs24\cf0\f0\charscalex100 {e probably done a few things right as
well.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Controlling
behavior may work with most of}\fs24\cf0\f0\charscalex100 { your employees, who
need you for a paycheck,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {but it will seldom work with partners.
Unless }\fs24\cf0\f0\charscalex100 {you have something so valuable that
your}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\c
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
413\slmult0 \fs24\cf0\f0\charscalex100 {partners simply can\uc1\u8217Xt live
without it (unlikel}\fs24\cf0\f0\charscalex100 {y), most partners
will }\fs24\cf0\f0\charscalex100 {begin looking elsewhere}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {the moment you start dictating the way
thi}\fs24\cf0\f0\charscalex100 {ngs ought to be inst}\fs24\cf0\f0\charscalex100
{ead of listening and}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {compromising. Again, simple rules\uc1\u8230Xdifficult
to follow.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\i {Try to make your partner\uc1\u8217Xs
company }\i0 \fs24\cf0\f0\charscalex100\i {look good and generate more revenue.}\i0
{ }\fs24\cf0\f0\charscalex100 {The better you}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {make your partners look the more
they\uc1\u8217Xre going }\fs24\cf0\f0\charscalex100 {to want you to stick around.
This is fairly}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {easy
if you can just get your company thinking }\fs24\cf0\f0\charscalex100 {this way. It
doesn\uc1\u8217Xt generally cost you very}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {much and it can add a lot to a relationship.
Simp}\fs24\cf0\f0\charscalex100 {le things like complementing your partner
in}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {front of a
customer or solving a problem }\fs24\cf0\f0\charscalex100 {for them that
wasn\uc1\u8217Xt your fault can add}\par\pard\li1133\ri0\sl-280\slmult0
\fs22\cf0\f0\charscalex100 {tremendously to the trust and confidence of a
part}\fs22\cf0\f0\charscalex100 {ner. In many respects your partners are
just}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {like
customers. They have choices. All things being equal, they will continue to do
business}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {with you
because they trust you }\fs24\cf0\f0\charscalex100 {and feel comfortable with
th}\fs24\cf0\f0\charscalex100 {e way you do business\uc1\u8230Xjust
like}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {customers
333\slmult0 \fs24\cf0\f0\charscalex100\i {Be honest.}\i0
{ }\fs24\cf0\f0\charscalex100 {If you lie to a customer they may not
b}\fs24\cf0\f0\charscalex100 {ecome a repeat customer or they
may}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {return what
they bought from you. If you lie to }\fs24\cf0\f0\charscalex100 {a partner,
you\uc1\u8217Xve potentia}\fs24\cf0\f0\charscalex100 {lly lost a great
many}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {customers over
a long period of time. Just like }\fs24\cf0\f0\charscalex100 {hiding a lie from
repeat }\fs24\cf0\f0\charscalex100 {customers is
difficult,}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {hiding a
lie from a partner is almost impossibl}\fs24\cf0\f0\charscalex100 {e in the long
run. If you can\uc1\u8217Xt run an honest}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {business you\uc1\u8217Xll find it difficult to
establis}\fs24\cf0\f0\charscalex100 {h and maintain long-term, win-win-
win}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{partnerships.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Again,
these rules are not rocket science. You\uc1\u8217X}\fs24\cf0\f0\charscalex100 {ve
heard them since ki}\fs24\cf0\f0\charscalex100 {ndergarten. They
exist}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {in pretty
much every meaningful}\fs24\cf0\f0\charscalex100 { relationship that life has to
o}\fs24\cf0\f0\charscalex100 {ffer. Yet, for some reason,
we}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {often forget
these simple rules when it comes }\fs24\cf0\f0\charscalex100 {to creating solid
busine}\fs24\cf0\f0\charscalex100 {ss relationships. After}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {all, it is a relationship. And
a}\fs24\cf0\f0\charscalex100 {ll relationships need to be
nur}\fs24\cf0\f0\charscalex100 {tured or they will
dissolve.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Creating
the win-win-win }\fs24\cf0\f0\charscalex100 {involves not only the tangible,
financ}\fs24\cf0\f0\charscalex100 {ial or strategic issues. It
also}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {involves a lot
of intangible emotional }\fs24\cf0\f0\charscalex100 {or psychological issues as
well.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\b {Choosing Good Partners}\b0
\fs24\cf0\f0\charscalex100 {Partnerships with other companies can
be }\fs24\cf0\f0\charscalex100 {broken down into two t}\fs24\cf0\f0\charscalex100
{ypes of relationships:}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {tactical and strategic. In
tactical }\fs24\cf0\f0\charscalex100 {relationships one business makes money}
{ }\fs24\cf0\f0\charscalex100\i {from}\i0 \fs24\cf0\f0\charscalex100 { the
other}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {company. In
these relationships one of the comp}\fs24\cf0\f0\charscalex100 {anies is the
customer and the other is the}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {provider of services or goods. Examples of
tac}\fs24\cf0\f0\charscalex100 {tical relationships include hiring a company
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {do your payroll,
provide consulting or tr}\fs24\cf0\f0\charscalex100 {aining for your firm, cleaning
your offices,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{delivering boxes to ship your products, etc. }\fs24\cf0\f0\charscalex100 {In these
cases you ar}\fs24\cf0\f0\charscalex100 {e the customer or
you}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {provide these
services to other }\fs24\cf0\f0\charscalex100 {companies and they are your
custom}\fs24\cf0\f0\charscalex100 {ers. This is not the type
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {partnership
we\uc1\u8217Xre discussing in this}\fs24\cf0\f0\charscalex100 { chapter. In fact,
these types of}\fs24\cf0\f0\charscalex100 { tactical relationships
really}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{aren\uc1\u8217Xt partnerships at all. However, they ar}\fs24\cf0\f0\charscalex100
{e sometimes referred to as partnerships because}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {that tends to sound more permanent,
unified, or cohesive.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Unlike
tactical relationships, the main purpose of }\fs24\cf0\f0\charscalex100 {strategic
relationships is not to make more}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {money}{ }\fs24\cf0\f0\charscalex100\i {from}\i0
\fs24\cf0\f0\charscalex100 { the other company, but to make more money}
{ }\fs24\cf0\f0\charscalex100\i {because}\i0 \fs24\cf0\f0\charscalex100 { of the
other company.}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {This
difference is sometimes confusing to busin}\fs24\cf0\f0\charscalex100 {ess leaders.
The shortsighted view is, \uc1\u8220XIf}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {these people aren\uc1\u8217Xt paying me, what good
are }\fs24\cf0\f0\charscalex100 {they?\uc1\u8221X The insightful view is,
\uc1\u8220XBy teaming up}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {with these guys we will both make more money from our
target
customers.\uc1\u8221X}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn
666\margrsxn133\cols2\colno1\colw7693\colsr-0\colno2\colw3746\pard\li1133\ri0\sl-
466\slmult0 \fs24\cf0\f0\charscalex100 {Strategic partnerships are all about
filling a ga}\fs24\cf0\f0\charscalex100 {p for each other in one of the three
circles of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {business
strategy (desirable products}\fs24\cf0\f0\charscalex100 { or services, types of
custom}\fs24\cf0\f0\charscalex100 {ers, or access to
customers)}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {or in
one of the four cornerstones of busin}\fs24\cf0\f0\charscalex100 {ess (effort,
cost, speed, or quality). While you}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {might have a mutual referral or commission agreement in
place with a strategic partner, the}\par\pard\li1133\ri0\sl-280\slmult0
{main goal is to be able to meet the customers\uc1\u8217X needs more effectively
and thereby get them to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {buy more. Almost all strategic relationships
must}\fs24\cf0\f0\charscalex100 { involve at least one of the following
three}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{goals:}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{Obtaining new customers;}\par\pard\li1493\ri0\sl-213\slmult0
{2.}\tab \fs24\cf0\f0\charscalex100 {Retaining existing customers;
or}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-346\slmult0
\*\tx1853\fs24\cf0\f0\charscalex100 {3.}\tab \fs24\cf0\f0\charscalex100 {Up selling
additional offerings to e}\fs24\cf0\f0\charscalex100 {ither new or existing
333\slmult0 \fs24\cf0\f0\charscalex100 {If you can\uc1\u8217Xt provide one of these
}\fs24\cf0\f0\charscalex100 {three benefits to your
partner }\fs24\cf0\f0\charscalex100 {or they can\uc1\u8217Xt provide one
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {them to you,
then why partner with them? It\uc1\u8217Xs}\fs24\cf0\f0\charscalex100 { all about
making the }\fs24\cf0\f0\charscalex100 {customer happier
and}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {getting them to
spend more money on your bus}\fs24\cf0\f0\charscalex100 {inesses. If either
st}\fs24\cf0\f0\charscalex100 {rategic partner cannot}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {deliver one or more of these benefits
th}\fs24\cf0\f0\charscalex100 {en the partnership is}\fs24\cf0\f0\charscalex100
{ likely to fail. }\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {So, what
are the key questions to ask when }\fs24\cf0\f0\charscalex100 {it comes to finding
good pa}\fs24\cf0\f0\charscalex100 {rtners? There are two}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {to begin with:}\par\pard\li1493\ri0\sl-
\*\tx1853\fs24\cf0\f0\charscalex100 {1.}\tab \fs24\cf0\f0\charscalex100 {What
strategic advantage do you n}\fs24\cf0\f0\charscalex100 {eed that other companies
have? }\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{What strategic advantage do you ha}\fs24\cf0\f0\charscalex100 {ve that other
companies need? }\par\pard\li1133\ri0\sl-213\slmult0
easiest way to determine the answers to }\fs24\cf0\f0\charscalex100 {these
questions is by going through the exercise}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {at the end of chapter two about}
{ }\fs24\cf0\f0\charscalex100\i {Creating a Successful Strategy}\i0
\fs24\cf0\f0\charscalex100 {. By going through this}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {exercise you\uc1\u8217Xll clearly
define }\fs24\cf0\f0\charscalex100 {your strengths and weaknesses.
Y}\fs24\cf0\f0\charscalex100 {ou\uc1\u8217Xll also figure out which
of}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {the three
circles of business }\fs24\cf0\f0\charscalex100 {strategy you want to emphasize as
a company and in which}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {circles you may need help in order to
succeed.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Once you\uc1\u8217Xve gone through this
exercise you\uc1\u8217Xll find th}\fs24\cf0\f0\charscalex100 {at you have a pretty
solid list of criteria}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {that can be used to pre-qualify potential
pa}\fs24\cf0\f0\charscalex100 {rtners. Refer to the not}\fs24\cf0\f0\charscalex100
{es you took during this}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {exercise. Use those notes to formulate a
list }\fs24\cf0\f0\charscalex100 {of qualifying factors
for }\fs24\cf0\f0\charscalex100 {potential partnerships.}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {Again, the basic questions involve what
others}\fs24\cf0\f0\charscalex100 { have that you need and what you have
that}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {others
need.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Synergy between businesses can
co}\fs24\cf0\f0\charscalex100 {me in many different forms
a}\fs24\cf0\f0\charscalex100 {nd in literally all areas
of }\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {your business.
Once you\uc1\u8217Xve found what you feel }\fs24\cf0\f0\charscalex100 {would be a
good partner, you must clearly}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {define the \uc1\u8220Xwhat\uc1\u8217Xs in
its\uc1\u8221X of the relationship. }\fs24\cf0\f0\charscalex100 {What\uc1\u8217Xs
in it for you? What\uc1\u8217Xs in it for your}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {potential partner? What\uc1\u8217Xs in it
for the custom}\fs24\cf0\f0\charscalex100 {ers (either yours or theirs)? The
thought process}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{should go something like
{1.}\tab \fs24\cf0\f0\charscalex100 {Company}{ }\fs24\cf0\f0\charscalex100\i
{xyz}\i0 \fs24\cf0\f0\charscalex100 { has a product, customer base, or
ac}\fs24\cf0\f0\charscalex100 {cess to customers that would be
of}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {value to us.
(Try to define which one }\fs24\cf0\f0\charscalex100 {it is. Generally it
won\uc1\u8217Xt be all three.) }\par\pard\li1493\ri0\sl-213\slmult0
{2.}\tab \fs22\cf0\f0\charscalex100 {We have a product, customer base, or access to
customers that would be of value to}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {company}{ }\fs24\cf0\f0\charscalex100\i {xyz}\i0
\fs24\cf0\f0\charscalex100 {. (Ideally, the two companies won\uc1\u8217Xt
ove}\fs24\cf0\f0\charscalex100 {rlap in all three categories.
You}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {will have
strengths in one and the potential }\fs24\cf0\f0\charscalex100 {partner will have
strengths in a different}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {one.)}\par\pard\li1493\ri0\sl-213\slmult0
{3.}\tab \fs24\cf0\f0\charscalex100 {How will this partnership help both companies
to achieve one or more of the}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {following goals:}\par\pard\li2933\ri0\sl-280\slmult0
\*\tx3293\fs24\cf0\f0\charscalex100 {a.}\tab \fs24\cf0\f0\charscalex100 {Obtain new
customers;}\par\pard\li2933\ri0\sl-266\slmult0 \*\tx3293\fs24\cf0\f0\charscalex100
{b.}\tab \fs24\cf0\f0\charscalex100 {Retain existing customers;
or}\par\pard\li2933\ri0\sl-280\slmult0 \*\tx3293\fs24\cf0\f0\charscalex100 {c.}\tab
\fs24\cf0\f0\charscalex100 {Up sell additional solutions to
ei}\fs24\cf0\f0\charscalex100 {ther new or existing
customers? }\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{In addition to #3 above, how will their product/customers/access help my company
to }\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {accomplish one
or more of the following goals:}\par\pard\li2026\ri0\sl-280\slmult0
\*\tx2386\fs24\cf0\f0\charscalex100 {a.}\tab \fs24\cf0\f0\charscalex100 {Reduce my
internal effort;}\par\pard\li2026\ri0\sl-266\slmult0
\*\tx2386\fs24\cf0\f0\charscalex100 {b.}\tab \fs24\cf0\f0\charscalex100 {Reduce my
external costs;}\par\pard\li2026\ri0\sl-280\slmult0
\*\tx2386\fs24\cf0\f0\charscalex100 {c.}\tab \fs24\cf0\f0\charscalex100 {Increase
speed of delivery; or}\par\pard\li2026\ri0\sl-280\slmult0
\*\tx2386\fs24\cf0\f0\charscalex100 {d.}\tab \fs24\cf0\f0\charscalex100 {Increase
the quality of my offerings?}\par\pard\li1493\ri0\sl-213\slmult0
{5.}\tab \fs24\cf0\f0\charscalex100 {While accomplishing #3 above, how will my
product/customer base/access help this}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {potential partner to accomplish
one }\fs24\cf0\f0\charscalex100 {or more of the following
goals:}\par\pard\li2026\ri0\sl-280\slmult0 \*\tx2386\fs24\cf0\f0\charscalex100
{a.}\tab \fs24\cf0\f0\charscalex100 {Reduce their internal
effort;}\par\pard\li2026\ri0\sl-266\slmult0 \*\tx2386\fs24\cf0\f0\charscalex100
{b.}\tab \fs24\cf0\f0\charscalex100 {Reduce their external
costs;}\par\pard\li2026\ri0\sl-280\slmult0 \*\tx2386\fs24\cf0\f0\charscalex100
{c.}\tab \fs24\cf0\f0\charscalex100 {Increase speed of delivery;
or}\par\pard\li2026\ri0\sl-280\slmult0 \*\tx2386\fs24\cf0\f0\charscalex100 {d.}\tab
\fs24\cf0\f0\charscalex100 {Increase the quality }\fs24\cf0\f0\charscalex100 {of
their offerings? }\par\pard\li1493\ri0\sl-213\slmult0
{6.}\tab \fs24\cf0\f0\charscalex100 {And finally, how will our combined solution
provide increased value to our}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {customers (yours, theirs, or both \uc1\u8211X
it }\fs24\cf0\f0\charscalex100 {doesn\uc1\u8217Xt matter) in the following
areas:}\par\pard\li2026\ri0\sl-266\slmult0 \*\tx2386\fs24\cf0\f0\charscalex100
{a.}\tab \fs24\cf0\f0\charscalex100 {Reducing the effort of getting what they
want;}\par\pard\li2026\ri0\sl-280\slmult0 \*\tx2386\fs24\cf0\f0\charscalex100
{b.}\tab \fs24\cf0\f0\charscalex100 {Reducing the cost of
ge}\fs24\cf0\f0\charscalex100 {tting what they want;}\par\pard\li2026\ri0\sl-
280\slmult0 \*\tx2386\fs24\cf0\f0\charscalex100 {c.}\tab \fs24\cf0\f0\charscalex100
{Increasing the speed of getting what they want; or}\par\pard\li2026\ri0\sl-
280\slmult0 \*\tx2386\fs24\cf0\f0\charscalex100 {d.}\tab \fs24\cf0\f0\charscalex100
{Increasing the quality of what they want? }\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {If you can
answer these questions well, then }\fs24\cf0\f0\charscalex100 {you can put together
a convincing presentation}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {and/or proposal that will be
very}\fs24\cf0\f0\charscalex100 { appealing to any potential
partne}\fs24\cf0\f0\charscalex100 {r. From there, it is simply
a}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {sales effort.
Only this sales effort can resu}\fs24\cf0\f0\charscalex100 {lt in many more
business opportunities for your}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {company than any of your normal sales
efforts.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {This tends to make it sound easy. It can be
fair}\fs24\cf0\f0\charscalex100 {ly difficult to \uc1\u8220Xmarry\uc1\u8221X two
different companies}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{in a business relationship. There are many inta}\fs24\cf0\f0\charscalex100
{ngibles that can kill even the most ideal}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {relationships. Here are }\fs24\cf0\f0\charscalex100 {a
few to watch for:}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {One of the
problems you may encounter in choos}\fs24\cf0\f0\charscalex100 {ing good partners
is that other companies}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {may not understand what their strengths and
w}\fs24\cf0\f0\charscalex100 {eaknesses are. You may have to spend
some }\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {time
convincing them that they need you. This, how}\fs24\cf0\f0\charscalex100 {ever, is
not much different than any other}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {sales effort. You need to convince customers
in}\fs24\cf0\f0\charscalex100 { much the same manner. If you cannot
clearly}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {define how
you can help their business grow, th}\fs24\cf0\f0\charscalex100 {en
there\uc1\u8217Xs no incentive for them to partner}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {with you.}\par\pard\li1133\ri0\sl-
{Unfortunately, most companies are rather shorts}\fs24\cf0\f0\charscalex100 {ighted
when it comes to the benefits of }\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {partnering. Most companies tend to simply
as}\fs24\cf0\f0\charscalex100 {k, \uc1\u8220XHow can you bring me more
customers?\uc1\u8221X}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {Up selling to existing customers and
especia}\fs24\cf0\f0\charscalex100 {lly retaining
existing }\fs24\cf0\f0\charscalex100 {customers are often}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {overlooked in this analysis. Make sure
you }\fs24\cf0\f0\charscalex100 {don\uc1\u8217Xt make that mistake when
discussing}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{potential partnerships.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Another
thing to be careful of }\fs24\cf0\f0\charscalex100 {is being too synergistic with a
}\fs24\cf0\f0\charscalex100 {potential partner. You need
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {determine how
difficult it would be for a potentia}\fs24\cf0\f0\charscalex100 {l partner to
replicate what you do and start}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {doing it themselves, thereby helping to create
a }\fs24\cf0\f0\charscalex100 {new competitor. I\uc1\u8217Xve seen some
partnerships}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {in
which this seemed to be the entire goal of }\fs24\cf0\f0\charscalex100 {one of the
partners. I\uc1\u8217Xv}\fs24\cf0\f0\charscalex100 {e even seen
companies}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {hire
their partner to l}\fs24\cf0\f0\charscalex100 {earn how they do what they do and
th}\fs24\cf0\f0\charscalex100 {en turn around and try to
duplicate}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {it
themselves. The bottom line is that you want to}\fs24\cf0\f0\charscalex100 { make
sure that a po}\fs24\cf0\f0\charscalex100 {tential partner
cannot}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {easily
duplicate what you }\fs24\cf0\f0\charscalex100 {bring to the
table.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Each company has a personality. We usually
refe}\fs24\cf0\f0\charscalex100 {r to this as a \uc1\u8220Xcorporate
culture.\uc1\u8221X Whatever}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {you call it, it can cause just as many
problems }\fs24\cf0\f0\charscalex100 {in a relationship as two people with
very}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {different
views of life. Judging the management st}\fs24\cf0\f0\charscalex100 {yles of
potential partners can be difficult at}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {first, but it usually doesn\uc1\u8217Xt take very long
dur}\fs24\cf0\f0\charscalex100 {ing the negotiation process to determine that
a}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {relationship may
not work. If it }\fs24\cf0\f0\charscalex100 {feels uncomfortable, try to
dete}\fs24\cf0\f0\charscalex100 {rmine why. There are no
set}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {rules in this
regard. Sometimes opposites attr}\fs24\cf0\f0\charscalex100 {act and other times
they repel. Whatever}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{happens always try to part on good terms. You }\fs24\cf0\f0\charscalex100 {never
know what influence others will have}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {on your future business.}\par\pard\li1133\ri0\sl-
{I believe it was Novell\uc1\u8217Xs former CEO, Ray }\fs24\cf0\f0\charscalex100
{Norda, who originally coined the phrase}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {\uc1\u8220Xcoopitition\uc1\u8221X to describe those
pa}\fs24\cf0\f0\charscalex100 {rtnerships that overlapped
in}\fs24\cf0\f0\charscalex100 { some area, offering
different}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {but
overlapping solutions to customers, fo}\fs24\cf0\f0\charscalex100 {r example. This
should not always be a}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {showstopper. If you can find enough synergy in
ot}\fs24\cf0\f0\charscalex100 {her areas and can negotiate some way
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {deal with the
competitive areas,}\fs24\cf0\f0\charscalex100 { you can still create some
very }\fs24\cf0\f0\charscalex100 {valuable relationships.
Don\uc1\u8217Xt}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {be greedy. Be willing to give a
li}\fs24\cf0\f0\charscalex100 {ttle and/or ask your partner
to }\fs24\cf0\f0\charscalex100 {give a little in order to
take}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {advantage of
the rest. Remember that the goal is}\fs24\cf0\f0\charscalex100 { to generate more
revenue or higher profits}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {from the partnership than you would have
with}\fs24\cf0\f0\charscalex100 {out it. You don\uc1\u8217Xt need to get ALL of
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {business in
order to generate MORE business.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Here are a
few specific exampl}\fs24\cf0\f0\charscalex100 {es of good and bad
partnering:}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {As President of 10x Marketing I based a
large pa}\fs24\cf0\f0\charscalex100 {rt of our strategy on partnering.
Specifically,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {I
wanted to tap into the communication channe}\fs24\cf0\f0\charscalex100 {ls of other
companie}\fs24\cf0\f0\charscalex100 {s who already had
access}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {to our
target customers. 10x Marketing offered }\fs24\cf0\f0\charscalex100 {high quality
Internet marketing services with}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {a special focus on search engine marketing.
Be}\fs24\cf0\f0\charscalex100 {ing part of a relatively new but
rapidly}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {growing
industry, a lot of companies saw the be}\fs24\cf0\f0\charscalex100 {nefit of this
type of}\fs24\cf0\f0\charscalex100 { marketing but
didn\uc1\u8217Xt}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{know how to accomplish it. We began calling adve}\fs24\cf0\f0\charscalex100
{rtising firms and basically asked a
simple}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133
{question, \uc1\u8220XDo you have current cu}\fs24\cf0\f0\charscalex100 {stomers
who want Internet }\fs24\cf0\f0\charscalex100 {marketing services that
you}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {have difficulty
delivering?\uc1\u8221X The answer was }\fs24\cf0\f0\charscalex100 {generally
\uc1\u8220Xyes.\uc1\u8221X We followed up with, \uc1\u8220XIf
10x}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Marketing could
help you to de}\fs24\cf0\f0\charscalex100 {liver those services to
your }\fs24\cf0\f0\charscalex100 {customers, whether under
your}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {brand or ours,
would it strengthen your rela}\fs24\cf0\f0\charscalex100 {tionship with
them?\uc1\u8221X Again, the answer was}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {generally \uc1\u8220Xyes.\uc1\u8221X Notice we
di}\fs24\cf0\f0\charscalex100 {dn\uc1\u8217Xt even offer to bring them more
customers. These}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{partnerships worked for three reasons:}\par\pard\li1546\ri0\sl-213\slmult0
{1.}\tab \fs24\cf0\f0\charscalex100 {Because both 10x Marketing and the ad
agenci}\fs24\cf0\f0\charscalex100 {es shared the same types of
target}\par\pard\li1906\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {customers
\uc1\u8211X they had one of the th}\fs24\cf0\f0\charscalex100 {ree circles of
bu}\fs24\cf0\f0\charscalex100 {siness in common;}\par\pard\li1546\ri0\sl-
\*\tx1906\fs24\cf0\f0\charscalex100 {2.}\tab \fs24\cf0\f0\charscalex100 {Because
the ad agencies need}\fs24\cf0\f0\charscalex100 {ed to be able to offer
a}\fs24\cf0\f0\charscalex100 {dditional services to their}\par\pard\li1906\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {existing and potential customers in order
to}\fs24\cf0\f0\charscalex100 { meet their needs \uc1\u8211X services that
these}\par\pard\li1906\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {customers
were actively asking for but whic}\fs24\cf0\f0\charscalex100 {h the ad agencies
could not adequately}\par\pard\li1906\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{provide; and}\par\pard\li1546\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1546\ri0\sl-
{Because ad agencies had access to targ}\fs24\cf0\f0\charscalex100 {et customers to
which 10x Marketing}\par\pard\li1906\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{previously had no access. }\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Notice how
all three of the circles of business were completed or fulfilled because of
these}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {partnerships.
Partnerships like these enable co}\fs24\cf0\f0\charscalex100 {mpanies to obtain
more new customers, retain}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {those customers for longer periods of time,
a}\fs24\cf0\f0\charscalex100 {nd up sell more services that are
complimentary}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {with
the needs of each other. When done pr}\fs24\cf0\f0\charscalex100 {operly and
actively, each partner was happier}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {because the customers were
happier. }\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Perhaps one of the more successful examples
}\fs24\cf0\f0\charscalex100 {of strategic partnering can be found in
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {OEM (original
equipment manufacturer) agr}\fs24\cf0\f0\charscalex100 {eements made between
Microsoft and the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{various computer hardware companies. By }\fs24\cf0\f0\charscalex100 {bundling and
pre-installing Microsoft products,}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {especially Windows, onto their computers
thes}\fs24\cf0\f0\charscalex100 {e computer companies were able to
better}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {meet their
customers\uc1\u8217X needs and thereby sell }\fs24\cf0\f0\charscalex100 {many more
computers than they could without}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {the software pre-installed.
Like}\fs24\cf0\f0\charscalex100 {wise, Microsoft was able to
be}\fs24\cf0\f0\charscalex100 {tter access their }\fs24\cf0\f0\charscalex100
{target market}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {by
simply providing their software to anyone}\fs24\cf0\f0\charscalex100 { who bought a
computer. These partnerships}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {have worked successfully for many years.
Again,}\fs24\cf0\f0\charscalex100 { the reasons for this success are
directly}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {related to
the three circles of business strategy:}\par\pard\li1493\ri0\sl-213\slmult0
{1.}\tab \fs24\cf0\f0\charscalex100 {Both partners shared the
sa}\fs24\cf0\f0\charscalex100 {me basic target customers;}\par\pard\li1493\ri0\sl-
\*\tx1853\fs24\cf0\f0\charscalex100 {2.}\tab \fs24\cf0\f0\charscalex100 {Microsoft
had a desirable product that th}\fs24\cf0\f0\charscalex100 {e computer companies
couldn\uc1\u8217Xt provide on}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {their own; and}\par\pard\li1493\ri0\sl-213\slmult0
{3.}\tab \fs24\cf0\f0\charscalex100 {The computer companies had access to a
larg}\fs24\cf0\f0\charscalex100 {e customer base that Microsoft
wanted}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {to
access.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {In the end, these relationships succeed
because }\fs24\cf0\f0\charscalex100 {they make the customer happier by
providing}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {a
combined solution that couldn\uc1\u8217Xt be delivered}\fs24\cf0\f0\charscalex100 {
without the partners}\fs24\cf0\f0\charscalex100 {hip. Or, more
properly}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {stated,
the solution better enabled the customer}\fs24\cf0\f0\charscalex100 { to get what
they wanted with less effort,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {greater speed, less overall cost, and/or
highe}\fs24\cf0\f0\charscalex100 {r quality. Customers certainly
could
have}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\c
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {purchased
the computer and ope}\fs24\cf0\f0\charscalex100 {rating system separately and
combined the two themselves.}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {But the OEM was a better, more desirable
so}\fs24\cf0\f0\charscalex100 {lution. The end result }\fs24\cf0\f0\charscalex100
{was happier customers}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {and more sales for both
partners.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Here\uc1\u8217Xs a painful example. I know
of a strugg}\fs24\cf0\f0\charscalex100 {ling company that gets literally millions
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {visitors to
their website every }\fs24\cf0\f0\charscalex100 {week. However, they
generate }\fs24\cf0\f0\charscalex100 {virtually no revenue from
these}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {visitors.
Other synergistic companies would kill to have access to those visitors. There
are}\par\pard\li1133\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {probably
hundreds or even thousands of ways to }\fs22\cf0\f0\charscalex100 {make money as a
direct result of owning so}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {much access to potential customers. I
approached}\fs24\cf0\f0\charscalex100 { this company with several ideas,
mostly}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {surrounding
the idea of partnering with other }\fs24\cf0\f0\charscalex100 {businesses that
share the same types of}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {customer (e.g. those visiting the website).
The }\fs24\cf0\f0\charscalex100 {response I received was, \uc1\u8220XBut we want to
sell}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {our own
products via our website, not help ot}\fs24\cf0\f0\charscalex100 {hers make
money.\uc1\u8221X I responded, \uc1\u8220XOkay,
we\uc1\u8217Xll}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{work on that too, but if you could basical}\fs24\cf0\f0\charscalex100 {ly double
your revenue by offering synergistic}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {products and services on your site, and do so
w}\fs24\cf0\f0\charscalex100 {ith little or no development, marketing,
or}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {sales costs,
wouldn\uc1\u8217Xt that be worth investigating?\uc1\u8221X They simply
weren\uc1\u8217Xt interested. Their}\par\pard\li1133\ri0\sl-280\slmult0
\fs22\cf0\f0\charscalex100 {entire strategic focus was on their own products
a}\fs22\cf0\f0\charscalex100 {nd services. That\uc1\u8217Xs what they felt was
their}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {greatest
strategic advantage and they weren\uc1\u8217Xt }\fs24\cf0\f0\charscalex100 {about
to budge. In thei}\fs24\cf0\f0\charscalex100 {r view, strategy
only}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {dealt with the
products or servi}\fs24\cf0\f0\charscalex100 {ces that a company offers.
In }\fs24\cf0\f0\charscalex100 {reality, their greatest
strategic}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {advantage
was their access to certain types of}\fs24\cf0\f0\charscalex100 { potential
customers. As a result of their }\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {shortsightedness this company
is }\fs24\cf0\f0\charscalex100 {still struggling, even with
mill}\fs24\cf0\f0\charscalex100 {ions of people visiting
their}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {website on a
regular basis. In this case, }\fs24\cf0\f0\charscalex100 {no strategic
partnering}\fs24\cf0\f0\charscalex100 { meant no new
revenue.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Here\uc1\u8217Xs one more example of a
failed partneri}\fs24\cf0\f0\charscalex100 {ng opportunity. I was once hired to
create a}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{globalization consulting divisi}\fs24\cf0\f0\charscalex100 {on for a European
company based in the United Kingdom. At}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {the time they didn\uc1\u8217Xt have the personnel or
skil}\fs24\cf0\f0\charscalex100 {l set to provide the desired consulting
services.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Yet, they
had customers who were already aski}\fs24\cf0\f0\charscalex100 {ng for these
services. In order to meet the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {immediate demand, I began to look for
partners}\fs24\cf0\f0\charscalex100 { who could fulfill
the }\fs24\cf0\f0\charscalex100 {services we were}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {already in the process of
se}\fs24\cf0\f0\charscalex100 {lling. A seemingly willing, if
not}\fs24\cf0\f0\charscalex100 { qualified, partner was
soon }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {secured and
the relationship seemed to be m}\fs24\cf0\f0\charscalex100 {oving along well. We
soon }\fs24\cf0\f0\charscalex100 {signed a rather large}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {contract with a new client to deliver these
c}\fs24\cf0\f0\charscalex100 {onsulting services. I told the partner what
was}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {required (what
was sold) and they expressed co}\fs24\cf0\f0\charscalex100 {nfidence in their
ability to deliver those}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {services. A few weeks into the project the client
called me and basically asked why these}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {guys were providing different solutions
than }\fs24\cf0\f0\charscalex100 {we discussed. Upon further inquiry I
learned}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {that my
newfound partner was apparently more }\fs24\cf0\f0\charscalex100 {interested in
peddling their own software}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {solution to the client than providing the
gl}\fs24\cf0\f0\charscalex100 {obalization consulting se}\fs24\cf0\f0\charscalex100
{rvices we had been}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{discussing all along. This shortsighted}\fs24\cf0\f0\charscalex100 { partner was
trying to make money}{ }\fs24\cf0\f0\charscalex100\i {from}\i0
\fs24\cf0\f0\charscalex100 { the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {relationship instead of making money}
{ }\fs24\cf0\f0\charscalex100\i {because}\i0 \fs24\cf0\f0\charscalex100 { of the
relationship. They}\fs24\cf0\f0\charscalex100 { failed to see that
this}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {was a long-
term opportunity to gain access to }\fs24\cf0\f0\charscalex100 {multiple new
customers and to eventually}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {introduce their software to every one of
these }\fs24\cf0\f0\charscalex100 {new customers. They saw the partnership as
a}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100 {short-term chance
to make an immediate sale. It}\fs22\cf0\f0\charscalex100 { was a mess. We lost the
client, we dissolved}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{the partnership, and I had egg on my face. In }\fs24\cf0\f0\charscalex100 {the
end, because the customer wasn\uc1\u8217Xt happy,}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {nobody was happy. I suppose the moral is to
make sure you do your due diligence before}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {simply handing over a customer. In hindsight
I }\fs24\cf0\f0\charscalex100 {should have managed the delivery of
services}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {or at
least communicated bette}\fs24\cf0\f0\charscalex100 {r right from the start.
Mone}\fs24\cf0\f0\charscalex100 {y lost, reputation hurt,
lesson}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {learned,
hasn\uc1\u8217Xt happened
since.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133
sxn173\pard\li1133\ri0\sl-213\slmult0
\fs24\cf0\f0\charscalex100\b \ul {Always Have A Contract}\b0 \ul0
\fs24\cf0\f0\charscalex100 {Let\uc1\u8217Xs suppose for a moment that you end up
being }\fs24\cf0\f0\charscalex100 {great at everything
we\uc1\u8217Xv}\fs24\cf0\f0\charscalex100 {e discussed so
far.}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {If so,
you\uc1\u8217Xre way ahead of the game. Unfortuna}\fs24\cf0\f0\charscalex100 {tely,
not all of your potential partners are}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {going to be this way. Some will be quite
the }\fs24\cf0\f0\charscalex100 {opposite of everything we\uc1\u8217Xve discussed.
They}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {may have given
little or no thought to a l}\fs24\cf0\f0\charscalex100 {ong-term strategy and may
have little or no}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{understanding of the four cornerstones of busin}\fs24\cf0\f0\charscalex100 {ess.
In addition, perhaps their values are a}\par\pard\li1133\ri0\sl-266\slmult0
\fs22\cf0\f0\charscalex100 {little different than your or
it\uc1\u8217Xs}\fs22\cf0\f0\charscalex100 { possible that they are
simply}\fs22\cf0\f0\charscalex100 { poor communicators and
haven\uc1\u8217Xt}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{expressed their views very clearly or accurate}\fs24\cf0\f0\charscalex100 {ly.
Because of these and other reasons, it is}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {important to protect yourself and
your}\fs24\cf0\f0\charscalex100 { business as much as
possible.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {The bottom line is this: Shaking hands is
great,}\fs24\cf0\f0\charscalex100 { but it should never be used to formalize
a}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {partnership, even
if it is with}\fs24\cf0\f0\charscalex100 { your own mother. Regardless
of }\fs24\cf0\f0\charscalex100 {who you are dealing with
there}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {should never
be any objections to creating a form}\fs24\cf0\f0\charscalex100 {al agreement that
is signed by both parties.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {If there is an objection, }\fs24\cf0\f0\charscalex100
{you should immediately wonder }\fs24\cf0\f0\charscalex100 {why. If the
circumstances}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{surrounding your partnership are so }\fs24\cf0\f0\charscalex100 {obvious or your
partner so }\fs24\cf0\f0\charscalex100 {trustworthy, then why
should}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {they object
to putting it all down in writing? If}\fs24\cf0\f0\charscalex100 { nothing else
this process helps to clearly}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {define what each party
agrees }\fs24\cf0\f0\charscalex100 {to do and make sure that
ever}\fs24\cf0\f0\charscalex100 {yone has the same
understanding}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{\uc1\u8211X often a major accomplishment in and of
itsel}\fs24\cf0\f0\charscalex100 {f. Many business relationships end with
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {words,
\uc1\u8220XThat\uc1\u8217Xs not what I meant\uc1\u8221X or
\uc1\u8220XW}\fs24\cf0\f0\charscalex100 {e had a misunderstanding.\uc1\u8221X A
formal, signed}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{agreement is one of the best ways to avoid such endings.}\par\pard\li1133\ri0\sl-
{If you have the money, hire a lawyer to help }\fs24\cf0\f0\charscalex100 {draft
these documents. However, in most cases}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {these contracts don\uc1\u8217Xt have to be complicated
or}\fs24\cf0\f0\charscalex100 { expensive, especially for small businesses
on}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {a budget. There
are many standard contracts }\fs24\cf0\f0\charscalex100 {available these days that
can be easily}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{customized to meet your needs. Before you }\fs24\cf0\f0\charscalex100 {spend a lot
of money on legal services, do}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {yourself a favor and go buy a software
product }\fs24\cf0\f0\charscalex100 {that contains or creates standard
legal}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {documents. Or
just search for one on the Inte}\fs24\cf0\f0\charscalex100 {rnet. You\uc1\u8217Xd
be surprised what you can find for}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {free these days on the Internet. Try to craft
th}\fs24\cf0\f0\charscalex100 {e type of document you need yourself. Then,
if}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {you\uc1\u8217Xre
still not sure of yourself, hire a lawy}\fs24\cf0\f0\charscalex100 {er to review
your cont}\fs24\cf0\f0\charscalex100 {racts and give you
some }\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{feedback.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {All partnership contracts should
sp}\fs24\cf0\f0\charscalex100 {ell out the basic nature of
wh}\fs24\cf0\f0\charscalex100 {at each party agrees to do
and}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {not to do.
It\uc1\u8217Xs sometimes difficult to think of}\fs24\cf0\f0\charscalex100
{ everything that could possibly go wrong in a}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {business relationship. However,
th}\fs24\cf0\f0\charscalex100 {e basics should always be
c}\fs24\cf0\f0\charscalex100 {overed. Always pay
particular}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{attention to anything that deals with the }\fs24\cf0\f0\charscalex100 {exchange of
money and anything regarding}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {responsibilities of each company in
order }\fs24\cf0\f0\charscalex100 {to get some of that money. Under
what}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {circumstances
will money change from one company to the other? Are there any
limitations}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {or
special circumstances that}\fs24\cf0\f0\charscalex100 { would invalidate that
exchan}\fs24\cf0\f0\charscalex100 {ge? Include what you\uc1\u8217Xre
not}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {responsible for
as well as what you are responsibl}\fs24\cf0\f0\charscalex100 {e for. If your
partner ba}\fs24\cf0\f0\charscalex100 {lks at all this
legal}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {detail, just
tell them that you want to make sure}\fs24\cf0\f0\charscalex100 { you\uc1\u8217Xre
going to be able}\fs24\cf0\f0\charscalex100 { to provide
everything}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {they
expect you to provide. If you\uc1\u8217Xre the one w}\fs24\cf0\f0\charscalex100
{ho\uc1\u8217Xs concerned about the legal detail, then get}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {over it. You\uc1\u8217Xre either being
dishonest or stupi}\fs24\cf0\f0\charscalex100 {d. Either way the partnership is
already in}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{trouble.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Properly established partnerships can be
the mo}\fs24\cf0\f0\charscalex100 {st important thing to ever happen to
your}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {business. They
can propel your business to ne}\fs24\cf0\f0\charscalex100 {w heights that would
otherwise never
be}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\col
s2\colno1\colw7693\colsr-0\colno2\colw3746\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {achieved
by your business alone. In many respects,}\fs24\cf0\f0\charscalex100 { they are far
more valuable than well-}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {established customer relationships. By
following }\fs24\cf0\f0\charscalex100 {these relatively simple partnering
guidelines}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{you\uc1\u8217Xll be able to generate more revenue for
your}\fs24\cf0\f0\charscalex100 { business in a shorter period of time and
with}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {less effort
and cost. And that\uc1\u8217Xs what bu}\fs24\cf0\f0\charscalex100 {ilding a
profitable bus}\fs24\cf0\f0\charscalex100 {iness is all
about.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
\fs18\cf0\par\pard\li1133\ri0\sl-453\slmult0 \fs32\cf0\f0\charscalex100\b {Managing
Your Employees}\b0 \par\pard\li1133\ri0\sl-213\slmult0
{\uc1\u8220XIf you\uc1\u8217Xre riding ahead of the herd, take a l}\i0
\fs24\cf0\f0\charscalex100\i {ook back every now and then to make sure
it\uc1\u8217Xs}\i0 \par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i
{still there.\uc1\u8221X (Will Rogers)}\i0 \par\pard\li1133\ri0\sl-213\slmult0
400\slmult0 \fs24\cf0\f0\charscalex100 {Every year Fortune Magazine publishes a
list }\fs24\cf0\f0\charscalex100 {of the top 100 companies to work for.
These}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {companies are
well known for the how well th}\fs24\cf0\f0\charscalex100 {ey treat their
employees. In 2005 Deloitte}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {Consulting decided to see if there was a
correl}\fs24\cf0\f0\charscalex100 {ation between a positive work environment
and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {corporate
success. They tracked the shareholde}\fs24\cf0\f0\charscalex100 {r returns of the
56 publicly traded companies}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {on Fortune\uc1\u8217Xs 2005 list of best companies to
wo}\fs24\cf0\f0\charscalex100 {rk for. According to this study,
these}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {companies not
only consistently beat the S&P }\fs24\cf0\f0\charscalex100 {500, but
\uc1\u8220Xwalloped it.\uc1\u8221X Companies that have}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {happy employees apparently have a better
ch}\fs24\cf0\f0\charscalex100 {ance of success than those who don\uc1\u8217Xt.
As}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Deloitte
principle Bob Dalton explained, \uc1\u8220XThi}\fs24\cf0\f0\charscalex100 {s puts
real data on something that seems }\par\pard\li1133\ri0\sl-320\slmult0
\fs24\cf0\f0\charscalex100 {intuitively true.\uc1\u8221X}
{ }\fs16\cf0\f3\charscalex100 {\uc1\u8727X}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-320\slmult0 \fs24\cf0\f0\charscalex100 {Every
company and every strategy depends on pe}\fs24\cf0\f0\charscalex100 {ople to make
it work. The more effectively}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {the people work, the more efficiently the
comp}\fs24\cf0\f0\charscalex100 {any will run and the more successful
your}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {business will
be. Unfortunately, many businesses don\uc1\u8217Xt understand how to get the most
out of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the people
that work for them. Some busine}\fs24\cf0\f0\charscalex100 {sses seem to view
people as some kind of}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {necessary evil that must be endured in
orde}\fs24\cf0\f0\charscalex100 {r to make more money. Those businesses
that}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {view their
employees this way are seldom as ef}\fs24\cf0\f0\charscalex100 {ficient as those
who are able to successfully}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {motivate and develop their employees for long-term
success.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Here\uc1\u8217Xs a quick self-test: When
you think of }\fs24\cf0\f0\charscalex100 {\uc1\u8220Xhuman resources,\uc1\u8221X
which word do you think of}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {the most, human or resources? Your
answer }\fs24\cf0\f0\charscalex100 {may make the difference between creating
an}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {adequate
business and creating a }\fs24\cf0\f0\charscalex100 {great business. At the
risk }\fs24\cf0\f0\charscalex100 {of stating the obvious,
humans}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{don\uc1\u8217Xt behave like other types of resources. }\fs24\cf0\f0\charscalex100
{You can\uc1\u8217Xt simply push a button, turn up the}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {power, or spend more money
a}\fs24\cf0\f0\charscalex100 {nd expect people to react
th}\fs24\cf0\f0\charscalex100 {e same way that your other}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {resources do. Getting the most
out}\fs24\cf0\f0\charscalex100 { of your employees takes time and effort. Yet,
it\uc1\u8217Xs usually}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {not as difficult as many companies seem to make
it.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Some would say that treating employees with
re}\fs24\cf0\f0\charscalex100 {spect and dignity is merely an ethical
issue}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {and has
little to do with creating a more succe}\fs24\cf0\f0\charscalex100 {ssful business.
This type of business owner or}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {manager is shortsighted and is missing out on
one}\fs24\cf0\f0\charscalex100 { of the greatest assets their business
will}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {ever have. You
may have the greatest st}\fs24\cf0\f0\charscalex100 {rategy the world
has }\fs24\cf0\f0\charscalex100 {ever known supported by}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {fantastically prioritized
goals}\fs24\cf0\f0\charscalex100 { and objectives. However,
it }\fs24\cf0\f0\charscalex100 {may all be for naught if
your}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {employees
don\uc1\u8217Xt care and aren\uc1\u8217Xt motivated e}\fs24\cf0\f0\charscalex100
{nough to properly implement those objectives.}\par\pard\li1133\ri0\sl-
{\uc1\u8727X}\fs20\cf0\f0\charscalex100 { Source: Fortune Magazine, January 23,
2006, p.
100 }\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\c
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {The bottom
line is that employees are complex re}\fs24\cf0\f0\charscalex100 {sources that need
to be treated more like}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {humans than resources in
orde}\fs24\cf0\f0\charscalex100 {r to achieve the best
possible }\fs24\cf0\f0\charscalex100 {results for your business.
The}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {more a business
treats human resources as mere resources, the less effective that
business}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {will be at
meeting its objectives. Likewise, the more a business treats human resources
as}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {humans, the more
effective and successful that bu}\fs24\cf0\f0\charscalex100 {siness will be. It is
almost that simple. The}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {rest of this chapter deals
with}\fs24\cf0\f0\charscalex100 { specific issues th}\fs24\cf0\f0\charscalex100 {at
will help you get the most out of your}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {human resources.}\par\pard\li1133\ri0\sl-213\slmult0
360\slmult0 \fs24\cf0\f0\charscalex100\b \i {Communicating Your Priorities }\b0 \i0
\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {If managers
don\uc1\u8217Xt understand corporate prio}\fs24\cf0\f0\charscalex100 {rities, they
can\uc1\u8217Xt communicate them to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {employees. Entire departments may pursue
the }\fs24\cf0\f0\charscalex100 {wrong priorities
causing }\fs24\cf0\f0\charscalex100 {strategic corporate}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {plans to become less
effective.}\fs24\cf0\f0\charscalex100 { I\uc1\u8217Xve seen a lot of this.
Like}\fs24\cf0\f0\charscalex100 {wise, if managers understand
the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {priorities, but
have not}\fs24\cf0\f0\charscalex100 { communicated them well to their
de}\fs24\cf0\f0\charscalex100 {partments, the results can be
{same. And if employees are left to themselves to}\fs24\cf0\f0\charscalex100
{ decide what the priorities are, not only are}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {the efforts of your teams unlikely to match
cor}\fs24\cf0\f0\charscalex100 {porate goals, they probably won\uc1\u8217Xt even
match}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {each other.
You will likely have employees working in different directions, even within
the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {same
departments or even on the same projects.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {Under a
healthy management structure manage}\fs24\cf0\f0\charscalex100 {rs will communicate
expectations well and}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {employees will basically do what they\uc1\u8217Xre
told}\fs24\cf0\f0\charscalex100 { as unfolded to them in a master
plan.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Communication
is open and fr}\fs24\cf0\f0\charscalex100 {equent. Two-way communication is
encouraged. Under an}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{unhealthy management structure, employees}\fs24\cf0\f0\charscalex100
{ don\uc1\u8217Xt receive enough }\fs24\cf0\f0\charscalex100 {communication to
know}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {what their
goals are. \uc1\u8220XDo it because I said }\fs24\cf0\f0\charscalex100
{so,\uc1\u8221X only serves to create shortsighted}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {misunderstandings that usually involve more
mana}\fs24\cf0\f0\charscalex100 {gement effort and repeated mistakes in
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {long run. When
employees don\uc1\u8217Xt understand corpor}\fs24\cf0\f0\charscalex100 {ate
priorities or at least the big picture}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {regarding their departmental
prio}\fs24\cf0\f0\charscalex100 {rities, they tend to do what
th}\fs24\cf0\f0\charscalex100 {ey think their }\fs24\cf0\f0\charscalex100
{priorities should}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{be rather than follow a high-level plan to achieve}\fs24\cf0\f0\charscalex100
{ corporate goals. Because}\fs24\cf0\f0\charscalex100 { of this, it is
vital}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {that you
communicate well and frequently, ensuri}\fs24\cf0\f0\charscalex100 {ng that
employees see the big picture and}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {pursue the priorities that will bring the highest
return on investment.}\par\pard\li1133\ri0\sl-213\slmult0
{EXERCISE: Learning From Your Employees}\i0 \par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {Your employees know more than you
think }\fs24\cf0\f0\charscalex100 {they do. I guarantee
it. }\fs24\cf0\f0\charscalex100 {They\uc1\u8217Xre the ones
who}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {actually do the
work for your company. There is little doubt that they have some
strong}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {feelings
about both your business and the role th}\fs24\cf0\f0\charscalex100 {ey play within
your business. They generally}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {know what\uc1\u8217Xs working well and what
isn\uc1\u8217Xt. Th}\fs24\cf0\f0\charscalex100 {ey know what will make their jobs
easier,}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {quicker,
more cost effective, and of higher quality}\fs24\cf0\f0\charscalex100 {.
Here\uc1\u8217Xs a simple way to glean some of that}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {information from them every so
often.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Create a simple form that
has }\fs24\cf0\f0\charscalex100 {the following questions on
it:}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{What do you enjoy the most about}\fs24\cf0\f0\charscalex100 { your job or this
company? }\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{If you could change one thing about your }\fs24\cf0\f0\charscalex100 {job or this
company, what would it be? }\par\pard\li1493\ri0\sl-213\slmult0
{3.}\tab \fs24\cf0\f0\charscalex100 {What do you think our customers
like }\fs24\cf0\f0\charscalex100 {the most about this
company? }\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn
\fs20\cf0\f0\charscalex100\i {Managing Your Employees}\i0
{What do you think our customers dis}\fs24\cf0\f0\charscalex100 {like the most
about our company? }\par\pard\li1493\ri0\sl-213\slmult0
{5.}\tab \fs24\cf0\f0\charscalex100 {Do you have any suggestions that would
he}\fs24\cf0\f0\charscalex100 {lp our company improve in any of
the}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {following
areas:}\par\pard\li2213\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li2213\ri0\sl-
{Help us to do our work faster?}\par\pard\li2213\ri0\sl-266\slmult0
\*\tx2573\fs24\cf0\f0\charscalex100 {b.}\tab \fs24\cf0\f0\charscalex100 {Help us to
do our work with less effort? }\par\pard\li2213\ri0\sl-280\slmult0
\*\tx2573\fs24\cf0\f0\charscalex100 {c.}\tab \fs24\cf0\f0\charscalex100 {Help us to
decrease what we }\fs24\cf0\f0\charscalex100 {pay to our external
suppliers? }\par\pard\li2213\ri0\sl-280\slmult0 \*\tx2573\fs24\cf0\f0\charscalex100
{d.}\tab \fs24\cf0\f0\charscalex100 {Help us to increase the
quality}\fs24\cf0\f0\charscalex100 { of our products or
services? }\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Notice that this list reflects the four
corner}\fs24\cf0\f0\charscalex100 {stones of business
discusse}\fs24\cf0\f0\charscalex100 {d earlier. This is by}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {design. Distribute this form to your
employees }\fs24\cf0\f0\charscalex100 {every so often, maybe once per quarter,
and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {see what
happens. You should pay particular atte}\fs24\cf0\f0\charscalex100 {ntion whenever
the same issues are raised}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {multiple times. You should also notice the
tone}\fs24\cf0\f0\charscalex100 { your employees use when answering
these}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100 {questions. Is
it a tone of unhappine}\fs22\cf0\f0\charscalex100 {ss - of complaining for the sake
of complaining? Or is it}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {one of content and cooperation? How many
pos}\fs24\cf0\f0\charscalex100 {itive comments are there compared
to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {negative
comments? You can learn a lot about yo}\fs24\cf0\f0\charscalex100 {ur corporate
culture via such an exercise.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {Not only
will you learn a lot about how to impr}\fs24\cf0\f0\charscalex100 {ove your
business from this exercise, but in}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {most cases your employees\uc1\u8217X job satisfaction
wi}\fs24\cf0\f0\charscalex100 {ll also increase by merely filling out such
a}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {form. However,
there is a very important key }\fs24\cf0\f0\charscalex100 {to making this exercise
work for you. In order}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {to accomplish either of these results you must follow
up and report back to your employees.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {You must acknowledge that you\uc1\u8217Xve heard what
th}\fs24\cf0\f0\charscalex100 {ey are saying and then give them
reasons}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {why you
believe certain comments are valid a}\fs24\cf0\f0\charscalex100 {nd doable, valid
but impossible for some }\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {reason, or invalid and why you think
so.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Clearly your employees won\uc1\u8217Xt
always be right. }\fs24\cf0\f0\charscalex100 {In most cases
they have a limited perspective}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {of your business. You may need to help
them }\fs24\cf0\f0\charscalex100 {understand the bigger
pictur}\fs24\cf0\f0\charscalex100 {e. But that\uc1\u8217Xs
what}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {this exercise
is intended to }\fs24\cf0\f0\charscalex100 {help you do. If done properly,
with }\fs24\cf0\f0\charscalex100 {tact and genuine interest
in}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {what your
employees have to say, you can both }\fs24\cf0\f0\charscalex100 {gain their trust
and help them to become }\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {better employees and more motivated in their
jo}\fs24\cf0\f0\charscalex100 {bs. What seemed silly and useless to
them }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {can become
meaningful and help them to do th}\fs24\cf0\f0\charscalex100 {eir jobs with much
gr}\fs24\cf0\f0\charscalex100 {eater understanding than}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {before.}\par\pard\li1133\ri0\sl-213\slmult0
360\slmult0 \fs24\cf0\f0\charscalex100\b \i {Identify The Mavericks}\b0 \i0
\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {It is vital to your
business that you hire, id}\fs24\cf0\f0\charscalex100 {entify, and encourage the
\uc1\u8220Xmavericks\uc1\u8221X among your}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {employees. By \uc1\u8220Xmaverick\uc1\u8221X I
don\uc1\u8217Xt mean employees that are nothing but problematic,
rule-}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {breaking
troublemakers. Rather, I\uc1\u8217Xm referring }\fs24\cf0\f0\charscalex100 {to
those people who, with wisdom and tact,}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {tend to bend the rules and simply find a way
to}\fs24\cf0\f0\charscalex100 { get things done. These are the innovators
that}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {find a better
way to succeed by }\fs24\cf0\f0\charscalex100 {leading and improving the way things
have always been.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{These are often your most valuable and most }\fs24\cf0\f0\charscalex100 {important
employees. Here\uc1\u8217Xs an example of}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {what I\uc1\u8217Xm talking
of Business}\i0
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {One of my
best project managers was a guy w}\fs24\cf0\f0\charscalex100 {ho, after adding up
all of the time it should take}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {to deliver a project, would add one week to
his }\fs24\cf0\f0\charscalex100 {schedule as a fudge
factor}\fs24\cf0\f0\charscalex100 {. At first, this used}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {to drive the marketing and sales guys crazy
b}\fs24\cf0\f0\charscalex100 {ecause they wanted the product to hit
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {shelves as soon
as possible and wondered why th}\fs24\cf0\f0\charscalex100 {is project manager
always forecasted later}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {delivery dates than everyone else. After a
wh}\fs24\cf0\f0\charscalex100 {ile, however, they came to appreciate
this}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {project
manager as much as I did. While all }\fs24\cf0\f0\charscalex100 {of the other
PM\uc1\u8217Xs were disappointing people}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {right and left, this guy was always either
on }\fs24\cf0\f0\charscalex100 {time or early on his projects. People came
to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {trust his
judgment.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {One of the best project managers
I\uc1\u8217Xve ever }\fs24\cf0\f0\charscalex100 {known was a guy who\uc1\u8217Xs
definition of speed dealt}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {simply with getting things off of his desk
a}\fs24\cf0\f0\charscalex100 {nd onto other people\uc1\u8217Xs desks. His job was
highly}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {dependant on
other departments that were not}\fs24\cf0\f0\charscalex100 { under his direct
supervision and he had no}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {authority over them. As a result, he felt
that}\fs24\cf0\f0\charscalex100 { as long as he was not}\fs24\cf0\f0\charscalex100
{ holding anything up, his}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {projects were moving forward as quickly as
th}\fs24\cf0\f0\charscalex100 {ey possibly could. This }\fs24\cf0\f0\charscalex100
{was basically true and}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {his projects were generally
going }\fs24\cf0\f0\charscalex100 {slightly faster than everyone else\uc1\u8217Xs
projects. Not satisfied}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {with this, however, he soon unlocked a key
to }\fs24\cf0\f0\charscalex100 {increased speed by realizing that people
work}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {faster for you
when they like you. Rewards alwa}\fs24\cf0\f0\charscalex100 {ys provide better
results}\fs24\cf0\f0\charscalex100 { than criticism or}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {punishments. So, along with the various
componen}\fs24\cf0\f0\charscalex100 {ts of his project, this project
manager}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {started to
leave small gifts on the desks of t}\fs24\cf0\f0\charscalex100 {hose upon whom he
depended to get his projects}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {done. This was nothing elaborate
\uc1\u8211X }\fs24\cf0\f0\charscalex100 {just a flower plucked off a local plant
for the women and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{maybe an occasional candy bar for the men. It wo}\fs24\cf0\f0\charscalex100 {rked
like a charm. Without saying a word}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {to either his co-workers or their
managers, }\fs24\cf0\f0\charscalex100 {his projects somehow
magi}\fs24\cf0\f0\charscalex100 {cally got done before}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {anyone else\uc1\u8217Xs. He also became a
pretty popular }\fs24\cf0\f0\charscalex100 {guy. Later when he was promoted to
manage}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {a larger
team, most of the best employees vol}\fs24\cf0\f0\charscalex100 {unteered to
transfer }\fs24\cf0\f0\charscalex100 {into his department.}\par\pard\li1133\ri0\sl-
{Mavericks care about getting }\fs24\cf0\f0\charscalex100 {the job done and they
excel at finding new, often unorthodox,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {ways of making it happen.
Mave}\fs24\cf0\f0\charscalex100 {ricks are seldom content
w}\fs24\cf0\f0\charscalex100 {ith the status quo and may}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {actually cause problems every now and then
b}\fs24\cf0\f0\charscalex100 {ecause they want to improve things.
They}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {sometimes
speak out against the way things ar}\fs24\cf0\f0\charscalex100 {e or have always
been in favor of trying}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {something new that they think is a better
way.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {For some companies these types of people
are }\fs24\cf0\f0\charscalex100 {viewed as a nuisance or as
troublemakers.}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100
{However, my experience has b}\fs22\cf0\f0\charscalex100 {een that if you can
channel thei}\fs22\cf0\f0\charscalex100 {r enthusiasm and manage
them }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {well,
mavericks help companies grow and get }\fs24\cf0\f0\charscalex100 {better. They are
usually highly valuable}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {employees and you want as many of them as you can
find.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\b \i {Take Off The Blinders}\b0
\i0 \par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {As mentioned
earlier, I was one of those st}\fs24\cf0\f0\charscalex100 {range people who studied
philosophy in college.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {As such, I once encountered a scientist who
told}\fs24\cf0\f0\charscalex100 { me that he felt all }\fs24\cf0\f0\charscalex100
{philosophers should study}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {science before studying philosophy because it
w}\fs24\cf0\f0\charscalex100 {ould give them a better understanding of
and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {scope regarding
the topics of philosophy. I re}\fs24\cf0\f0\charscalex100 {sponded by saying,
\uc1\u8220XThat\uc1\u8217X}\fs24\cf0\f0\charscalex100 {s strange. I\uc1\u8217Xve
always}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {felt that
all scientists should study philosophy }\fs24\cf0\f0\charscalex100 {before becoming
scientists because it would}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {help them to better understand the theories
and }\fs24\cf0\f0\charscalex100 {issues with which scientists are
commonly}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{involved.\uc1\u8221X Neither of us knowing how to
respond }\fs24\cf0\f0\charscalex100 {to such lunacy, we both stared briefly
into}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\c
\fs18\cf0\par\pard\li1133\ri0\sl-386\slmult0 \fs20\cf0\f0\charscalex100\i {Managing
Your Employees}\i0 \par\column\pard\li0\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {the
other\uc1\u8217Xs eyes as if to say, \uc1\u8220XIf only }\fs24\cf0\f0\charscalex100
{you knew what I know, you would understand.\uc1\u8221X We}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {parted ways unchanged by the moment,
havi}\fs24\cf0\f0\charscalex100 {ng not learned a thing from each
other.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {One of the aspects of business that has
fascin}\fs24\cf0\f0\charscalex100 {ated me the most over the years involves
how}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {different types
of business leaders tend to vi}\fs24\cf0\f0\charscalex100 {ew their own background
as the most important}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {part of the company. Just like the encounter
with}\fs24\cf0\f0\charscalex100 { my scientist friend, we all tend to view
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {world of
business from our own relatively narr}\fs24\cf0\f0\charscalex100 {ow perspectives.
Here }\fs24\cf0\f0\charscalex100 {are a few examples of}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {what I\uc1\u8217Xm talking about from
actual businesses I\uc1\u8217Xve}\fs24\cf0\f0\charscalex100 { worked with, either
as an employee or as}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{a consultant:}\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100\i {If the leader/manager has a
marketing ba}\i0 \fs24\cf0\f0\charscalex100\i {ckground, then marketing is the
most}\i0 \par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100\i
{important aspect of the company. Everybody}\i0 \fs24\cf0\f0\charscalex100\i { else
is there to support the marketing}\i0 \par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\i {efforts. Marketing people ar}\i0
\fs24\cf0\f0\charscalex100\i {e generally the highest paid.}\i0
\*\tx1853\fs24\cf0\f1\charscalex100 {\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100\i
{If the leader is a developer then developm}\i0 \fs24\cf0\f0\charscalex100\i {ent
is the most important aspect of the}\i0 \par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\i {company and everyone else is merely suppor}\i0
\fs24\cf0\f0\charscalex100\i {ting the core development team in some}\i0
\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {way or other.
Developers tend to be the highest paid.}\i0 \par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100\i {If the leader has a sales
background then }\i0 \fs24\cf0\f0\charscalex100\i {sales is most important and
sales people}\i0 \par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i
{are heavily compensated.}\i0 \par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100\i {If the leader has an MBA then that
is view}\i0 \fs24\cf0\f0\charscalex100\i {ed as critical for success and every
resume}\i0 \par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {must
have \uc1\u8220XMBA\uc1\u8221X written somewhere on it.}\i0
{If the leader has a PHD then that is viewed as critical for success.}\i0
{If the leader didn\uc1\u8217Xt graduate fr}\i0 \fs24\cf0\f0\charscalex100\i {om
college, then they tend to}\i0 \fs24\cf0\f0\charscalex100\i { belittle the
importance of }\i0 \par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100\i
{formal education in the workplace.}\i0 \par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {This list
could go on. Those of you who have been}\fs24\cf0\f0\charscalex100 { in business
for a while know exactly what}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {I\uc1\u8217Xm talking about. We all tend to think that
ou}\fs24\cf0\f0\charscalex100 {r area of expertise is }\fs24\cf0\f0\charscalex100
{somehow more important}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {than everyone else\uc1\u8217Xs and
thos}\fs24\cf0\f0\charscalex100 {e in charge generally get
thei}\fs24\cf0\f0\charscalex100 {r way in these matters. I
suppose}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {this is
natural. However, this self-focused vi}\fs24\cf0\f0\charscalex100 {ew of your
business must be avoided if you are}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {to become as successful as
333\slmult0 \fs24\cf0\f0\charscalex100 {As a business leader you need to make sure
th}\fs24\cf0\f0\charscalex100 {at you take off the blinders, drop your ego,
and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {recognize that
every major area of expertise }\fs24\cf0\f0\charscalex100 {is important to the
success of your business.}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {Each aspect of a business has its place and
cont}\fs24\cf0\f0\charscalex100 {ributes in important ways to the success of
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {entire
organization. Not all are equally critical}\fs24\cf0\f0\charscalex100 { to your
success. But all are important and}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {deserving of respect and
attention.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {The following is a list of some of the
major co}\fs24\cf0\f0\charscalex100 {mponents of most businesses. To some
extent,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {these are
the day-to-day issues every compa}\fs24\cf0\f0\charscalex100 {ny has to worry about
in order to stay in}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{business.}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{Finance/Accounting}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn66
6\margrsxn133\cols2\colno1\colw7693\colsr-0\colno2\colw3746\pard\li1133\ri0\sl-
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100
{Fulfillment/Delivery/Execution}\par\pard\li1493\ri0\sl-266\slmult0
{HR}\par\pard\li1493\ri0\sl-280\slmult0 \*\tx1853\fs24\cf0\f1\charscalex100
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {Marketing}\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Project management}\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Research and Development}\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Sales}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {In
general, the smaller the business, the more }\fs24\cf0\f0\charscalex100 {hats
people tend to wear in these areas. As}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {companies grow these elements turn into departments
with managers, directors, and vice}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {presidents to oversee them.
So}\fs24\cf0\f0\charscalex100 {mewhere along the way a
pecking }\fs24\cf0\f0\charscalex100 {order is created.
Different}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{departments become viewed as being more or }\fs24\cf0\f0\charscalex100 {less
important to the company. In and of itself}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {this isn\uc1\u8217Xt necessarily a bad thing.
However, }\fs24\cf0\f0\charscalex100 {it can severely cripple a company when
false}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {views are
established based on a }\fs24\cf0\f0\charscalex100 {leader\uc1\u8217Xs narrow view
of business. These false priorities}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {often result in one or more major components of your
company becoming less effective than}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {it otherwise could be. And that results
in }\fs24\cf0\f0\charscalex100 {a less competitive, less successful
346\slmult0 \fs24\cf0\f0\charscalex100 {While it is sometimes difficult to take the
blinde}\fs24\cf0\f0\charscalex100 {rs off, it is important that you are able
to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {respect and
listen to the needs and wants of }\fs24\cf0\f0\charscalex100 {each major element of
your business. Don\uc1\u8217Xt make}\par\pard\li1133\ri0\sl-280\slmult0
\fs22\cf0\f0\charscalex100 {the mistake of thinking that your area of
expert}\fs22\cf0\f0\charscalex100 {ise and experience is either the most
important}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {or the
highest priority to th}\fs24\cf0\f0\charscalex100 {e company\uc1\u8217Xs success.
Listen to }\fs24\cf0\f0\charscalex100 {your team and do what
makes}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {sense rather
than what feels comfortable. I gua}\fs24\cf0\f0\charscalex100 {rantee your business
will be}\fs24\cf0\f0\charscalex100 { more successful if}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {you can accomplish
this.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100\i {EXERCISE: Checking Your Biases}\i0
\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {The bulleted list
above is sorted }\fs24\cf0\f0\charscalex100 {alphabetically. Take just a
minute }\fs24\cf0\f0\charscalex100 {and sort this list
according}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {to what
you think are the most important elemen}\fs24\cf0\f0\charscalex100 {ts to your
business\uc1\u8217X success. Add or remove}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {elements if needed to fit your specific
333\slmult0 \fs24\cf0\f0\charscalex100 {Now sort the list again according to which
de}\fs24\cf0\f0\charscalex100 {partments listed get paid the most in
your}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {company. Stop
here and quickly sort the list be}\fs24\cf0\f0\charscalex100 {fore reading further.
Creating a table similar}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {to the following may help with this
226\slmult0 \fs20\cf0\f0\charscalex100\i {Managing Your Employees}\i0
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
\colno1\colw2226\colsr-0\colno2\colw3333\colsr-0\colno3\colw1266\colsr-
453\slmult0 \fs24\cf0\f0\charscalex100 {1.}\par\pard\li1133\ri0\sl-413\slmult0
\fs18\cf0\par\pard\li0\ri0\sl-306\slmult0 \fs28\cf0\f0\charscalex100\b {Most
Important}\b0 \par\column\pard\li0\ri0\sl-213\slmult0
{7.}\par\column\pard\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-
\fs18\cf0\par\pard\li0\ri0\sl-306\slmult0 \fs28\cf0\f0\charscalex100\b {Highest
Paid}\b0
333\slmult0 \fs24\cf0\f0\charscalex100 {Once you\uc1\u8217Xve sorted the list,
circle the elemen}\fs24\cf0\f0\charscalex100 {t or elements that match your own
background}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {or
experience in business. Did they happen to ap}\fs24\cf0\f0\charscalex100 {pear near
the top of your}\fs24\cf0\f0\charscalex100 { two sorted lists?
If}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {so, you may have
a problem with }\fs24\cf0\f0\charscalex100 {blinders. At the very least
yo}\fs24\cf0\f0\charscalex100 {u would be well advised to
get}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {some honest
feedback from the rest of your mana}\fs24\cf0\f0\charscalex100 {gement team to see
if they have noticed a}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {tendency to focus on some aspects of your
bus}\fs24\cf0\f0\charscalex100 {iness more than you should and on others
less}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {than you
should. See how good you are at dropping }\fs24\cf0\f0\charscalex100 {your ego a
bit in order to improve your}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {company.}\par\pard\li1133\ri0\sl-213\slmult0
373\slmult0 \fs24\cf0\f0\charscalex100\b \i {Choosing Good Employees}\b0 \i0
\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Good employees are
always easier to manage th}\fs24\cf0\f0\charscalex100 {an bad employees. They are
more motivated,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{more productive, more enjoyable, and more pr}\fs24\cf0\f0\charscalex100 {ofitable
than bad employ}\fs24\cf0\f0\charscalex100 {ees. It\uc1\u8217Xs
unfortunate}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {that in
all the years of ad}\fs24\cf0\f0\charscalex100 {ding new employees to companies,
nobody has ever found a better}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {way to hire people than the standard
re}\fs24\cf0\f0\charscalex100 {sume, interview, and reference
process.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Hiring employees, especially upper-level
employees}\fs24\cf0\f0\charscalex100 {, is a major part of creating a
{business. You often delegate important aspe}\fs24\cf0\f0\charscalex100 {cts of
your company to people you hardly know}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {and then expect them to improve things.
The}\fs24\cf0\f0\charscalex100 {n, when they don\uc1\u8217Xt perform, we blame them
}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {instead of
ourselves. Here are some tips that I\uc1\u8217Xv}\fs24\cf0\f0\charscalex100 {e
found to be very useful when trying to build}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {a good employee base.}\par\pard\li1133\ri0\sl-
\fs18\cf0\par\pard\li1133\ri0\sl-373\slmult0 \fs24\cf0\f0\charscalex100\b \ul {The
Art Of Interviewing}\b0 \ul0 \fs24\cf0\f0\charscalex100\b \ul { }\b0 \ul0
\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Let\uc1\u8217Xs
face it, interviewing is a horrible way to}\fs24\cf0\f0\charscalex100 { hire new
employees. In most cases it\uc1\u8217Xs}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {extremely superficial an}\fs24\cf0\f0\charscalex100 {d
most managers don\uc1\u8217Xt do it well. }\fs24\cf0\f0\charscalex100 {Think about
the interview process}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {for a minute. For most employers, here\uc1\u8217Xs how
it usually goes:}\par\pard\li1493\ri0\sl-213\slmult0
{1.}\tab \fs24\cf0\f0\charscalex100 {You read a bunch of one to
th}\fs24\cf0\f0\charscalex100 {ree page resumes written
by }\fs24\cf0\f0\charscalex100 {the applicants themselves}\par\pard\li1853\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {(which is
questionabl}\fs24\cf0\f0\charscalex100 {e in and of
itself);}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn1
{2.}\tab \fs24\cf0\f0\charscalex100 {You believe pretty much everything
that\uc1\u8217Xs on each resume and simply take it at face}\par\pard\li1853\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {value, skipping those parts that are
to}\fs24\cf0\f0\charscalex100 {o wordy or look boring for some
reason;}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{You choose the ones that stand }\fs24\cf0\f0\charscalex100 {out in some way -
often in }\fs24\cf0\f0\charscalex100 {ways that don\uc1\u8217Xt matter
very}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {much like
formatting or a complimentary cover letter;}\par\pard\li1493\ri0\sl-213\slmult0
{4.}\tab \fs24\cf0\f0\charscalex100 {You bring in a select few for a rather
sh}\fs24\cf0\f0\charscalex100 {allow, but highly revered chat called
an}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{\uc1\u8220Xinterview;\uc1\u8221X}\par\pard\li1493\ri0\sl-213\slmult0
{5.}\tab \fs24\cf0\f0\charscalex100 {You ask questions about them and they do
thei}\fs24\cf0\f0\charscalex100 {r absolute best to say what they
think}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {you want to
hear;}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{Maybe you call a few references that were}\fs24\cf0\f0\charscalex100 { provided by
the app}\fs24\cf0\f0\charscalex100 {licant (like
they\uc1\u8217Xre}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{going to provide you with anything but positive
references);}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{You end up hiring
the one who plays this ga}\fs24\cf0\f0\charscalex100 {me better than the others
and then hope}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {for
the best. Generally the decision you ma}\fs24\cf0\f0\charscalex100 {ke is based
more on emotion than reason}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {or any solid criteria you gl}\fs24\cf0\f0\charscalex100
{eaned from this process.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {Sound
familiar? When all is said and done, it}\fs24\cf0\f0\charscalex100 {\uc1\u8217Xs no
wonder bad employees exist in every}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {company. The interview process is a horrible
wa}\fs24\cf0\f0\charscalex100 {y to decide who will be a benefit to
your}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {company and
who will be a hindrance. But as mu}\fs24\cf0\f0\charscalex100 {ch as we may hate
it, we\uc1\u8217Xve never found a}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {better way to do it. It seems clear that if you
don}\fs24\cf0\f0\charscalex100 {\uc1\u8217Xt learn how to interview well, the odds
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {hiring good
employees are against you.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {As bad of
a process as it is, there are some }\fs24\cf0\f0\charscalex100 {definite
do\uc1\u8217Xs and don\uc1\u8217Xts about interviewing
that}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {can make a big
difference in the quality of th}\fs24\cf0\f0\charscalex100 {e people you hire.
Because interviewing is both}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {a science and an art, most managers do it
poorly}\fs24\cf0\f0\charscalex100 {. Here are a few general guidelines to
help}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {you hire the
best possible people.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100\b \i {Avoid
yes or no questions during the interview.}\b0 \i0 { }\fs24\cf0\f0\charscalex100
{Your main goal during an interview is to get}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {the person talking. Make them explain
things }\fs24\cf0\f0\charscalex100 {to you. For example, instead of asking,
\uc1\u8220XDo}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {you
know how to use MS Word?\uc1\u8221X Ask, \uc1\u8220XHow }\fs24\cf0\f0\charscalex100
{have you learned how to use MS Word?\uc1\u8221X}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {Instead of asking, \uc1\u8220XDo you know
how to program}\fs24\cf0\f0\charscalex100 { in PHP?\uc1\u8221X Ask instead,
\uc1\u8220XWhat kinds of}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {projects have you worked on involving PHP?\uc1\u8221X
In}\fs24\cf0\f0\charscalex100 {stead of, \uc1\u8220XHave you had success in
previous}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {sales
positions?\uc1\u8221X Ask, \uc1\u8220XWhat was the most
di}\fs24\cf0\f0\charscalex100 {fficult sales position you\uc1\u8217Xve ever had and
how}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {did you
overcome it?\uc1\u8221X Or maybe, \uc1\u8220XWhat was
your}\fs24\cf0\f0\charscalex100 { most enjoyable sales experience?\uc1\u8221X
By}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {asking these
types of questions }\fs24\cf0\f0\charscalex100 {you\uc1\u8217Xll not only find out
more }\fs24\cf0\f0\charscalex100 {about their experience,
{also learn about their level of skil}\fs24\cf0\f0\charscalex100 {l and their
personality in general.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100\b \i {Write
things down as you interview people.}\b0 \i0 { }\fs24\cf0\f0\charscalex100
{There\uc1\u8217Xs no way you\uc1\u8217Xll be able to
remember }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{everything you talked about and make a fair }\fs24\cf0\f0\charscalex100
{comparison later if you }\fs24\cf0\f0\charscalex100 {don\uc1\u8217Xt write things
down.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {At the end of
every interview, rate your ove}\fs24\cf0\f0\charscalex100 {rall impression of the
candidate on a scale from }\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {one to ten. This enables you to look back
and }\fs24\cf0\f0\charscalex100 {compare your impressions rather than trying
to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {remember exactly
how impressed you were. If po}\fs24\cf0\f0\charscalex100 {ssible, start with the
applicant that
you}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\co
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {think will
be your best candidate. Then use them}\fs24\cf0\f0\charscalex100 { as a measuring
stick to see if anyone else}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {can beat your initial impression of that
person.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100\b \i {Split the interview process into
categories.}\b0 \i0 { }\fs24\cf0\f0\charscalex100 {The following three
ca}\fs24\cf0\f0\charscalex100 {tegories should exist}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {within every
interview:}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Experience}\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {Skills}\par\pard\li1493\ri0\sl-
{Personality}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Too many managers spend too much time
asking }\fs24\cf0\f0\charscalex100 {questions about
experi}\fs24\cf0\f0\charscalex100 {ence and skills and}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {not enough asking about personality. In
general, }\fs24\cf0\f0\charscalex100 {you\uc1\u8217Xll always be able to find
people with the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{skills you\uc1\u8217Xre looking for. If not, you just need
to }\fs24\cf0\f0\charscalex100 {advertise in different places or in
different}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {ways. But
finding people who are proactive, enjoya}\fs24\cf0\f0\charscalex100 {ble, and
teachable is much more difficult}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {and much more important to
the }\fs24\cf0\f0\charscalex100 {overall success of your
333\slmult0 \fs24\cf0\f0\charscalex100 {Experience is usually the easiest of the
three cat}\fs24\cf0\f0\charscalex100 {egories to assess. Most of this assessment
can}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {come directly
from an applicant\uc1\u8217Xs resume}\fs24\cf0\f0\charscalex100 { followed by a few
probing questions during the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {interview. Do it first and get it out of
the }\fs24\cf0\f0\charscalex100 {way. Remember to avoid the yes or no
questions.}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {One of
the questions I always like to ask duri}\fs24\cf0\f0\charscalex100 {ng this portion
of an interview is, \uc1\u8220XOf all the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {jobs you\uc1\u8217Xve ever had, which one has been
your}\fs24\cf0\f0\charscalex100 { favorite?\uc1\u8221X After they give me the
quick}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {answer I ask
them why, listening for the types }\fs24\cf0\f0\charscalex100 {of things that might
apply to my business.}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {Then I ask them the opposite question,
\uc1\u8220XWhich}\fs24\cf0\f0\charscalex100 { job was your least favorite?
Why?\uc1\u8221X You\uc1\u8217Xd be}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {amazed at how much people will tell you
about}\fs24\cf0\f0\charscalex100 { themselves while they\uc1\u8217Xre discussing
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {positives and
negatives of past employment.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Assessing
skills
should also be fairly easy for most}\fs24\cf0\f0\charscalex100 { types of jobs.
This is}\fs24\cf0\f0\charscalex100 { especially true for}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {jobs that require a very specific skill
set. If possible and applicable, I strongly recommend}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {having applicants take a pre-interview
skills}\fs24\cf0\f0\charscalex100 { test of some sort. For example,
when}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {interviewing
for an administrati}\fs24\cf0\f0\charscalex100 {ve assistant or
secret}\fs24\cf0\f0\charscalex100 {ary position, I have
e}\fs24\cf0\f0\charscalex100 {ach applicant take a}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {test involving MS Word
and }\fs24\cf0\f0\charscalex100 {Excel. I look for two things; how well they
already know the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{basic features of these applica}\fs24\cf0\f0\charscalex100 {tions and how well
they can figure}\fs24\cf0\f0\charscalex100 { things out with which
they}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {are likely to
be unfamiliar. This means that I alwa}\fs24\cf0\f0\charscalex100 {ys include
certain parts of the test that very}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {few people will know how to do. I want people
in}\fs24\cf0\f0\charscalex100 { this position to not only have a
working}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {knowledge
but also have the aptitude to figure }\fs24\cf0\f0\charscalex100 {things out on
their own without continually}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {asking for help.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {If they
don\uc1\u8217Xt do well on this test, then I don\uc1\u8217Xt
want}\fs24\cf0\f0\charscalex100 { to interview them, le}\fs24\cf0\f0\charscalex100
{t alone hire them. My}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {time is too valuable to waste by talking to
pe}\fs24\cf0\f0\charscalex100 {ople who have no chance of doing the job I
need}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {them to do. In
my opinion, this approach saves }\fs24\cf0\f0\charscalex100 {so much time as to
be}\fs24\cf0\f0\charscalex100 { invaluable to the}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {interview process. In addition,
it}\fs24\cf0\f0\charscalex100 {\uc1\u8217Xs a much more accurate way to identify
specific skills than}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{playing the question and answer game. \uc1\u8220XH}\fs24\cf0\f0\charscalex100 {ow
well do you know MS Word?\uc1\u8221X \uc1\u8220XOh, really}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {well. I\uc1\u8217Xve used it almost all of
my life.\uc1\u8221X Wh}\fs24\cf0\f0\charscalex100 {at do you expect them to say?
But a simple,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{hands-on test will tell you the
truth.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133
466\slmult0 \fs24\cf0\f0\charscalex100 {It\uc1\u8217Xs important to make these
tests applicable to the job for which each person is
applying.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Writers
need to provide an on-th}\fs24\cf0\f0\charscalex100 {e-spot writing sample, not one
}\fs24\cf0\f0\charscalex100 {they\uc1\u8217Xve had a lot of time
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {prepare and edit
prior to the interview. Engineer}\fs24\cf0\f0\charscalex100 {s need to look at some
code and identify}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{problems or improvements. The list goes on.
You\uc1\u8217X}\fs24\cf0\f0\charscalex100 {ll have to decide what\uc1\u8217Xs
important for your}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{specific positions. These tests s}\fs24\cf0\f0\charscalex100 {houldn\uc1\u8217Xt
take more than an ho}\fs24\cf0\f0\charscalex100 {ur. In fact, I recommend
giving}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {a time limit
to each test. All you want to know is}\fs24\cf0\f0\charscalex100 { whether or not
they\uc1\u8217Xv}\fs24\cf0\f0\charscalex100 {e got the basic
skills}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {you need
them to have in order to }\fs24\cf0\f0\charscalex100 {quickly train them in their
new job.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {For those skills that don\uc1\u8217Xt lend
themselves }\fs24\cf0\f0\charscalex100 {to a test, make sure you ask pointed
and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {knowledgeable
questions. Do your research. For exam}\fs24\cf0\f0\charscalex100 {ple, I used to
have to hire people with}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {Japanese language skills. I }\fs24\cf0\f0\charscalex100
{don\uc1\u8217Xt speak Japanese. So creati}\fs24\cf0\f0\charscalex100 {ng and
assessing a test was}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{difficult. After doing a bit of research I knew }\fs24\cf0\f0\charscalex100
{enough to understand that }\fs24\cf0\f0\charscalex100 {learning thousands
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Kanji characters
is harder th}\fs24\cf0\f0\charscalex100 {an learning any written
European}\fs24\cf0\f0\charscalex100 { alphabet. (I do speak
Spanish}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {and
Dutch\uc1\u8230Xor at least, I did at one time.) A }\fs24\cf0\f0\charscalex100 {lot
of non-natives speak Japanese. A lot fewer}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {can actually read it well. With very little
invest}\fs24\cf0\f0\charscalex100 {igation I discovered
two }\fs24\cf0\f0\charscalex100 {criteria that governed}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {this portion of my
interview. }\fs24\cf0\f0\charscalex100 {First, I learned that if
so}\fs24\cf0\f0\charscalex100 {meone knows 2,000 Kanji
characters}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {they can
pretty much read most things they\uc1\u8217Xr}\fs24\cf0\f0\charscalex100 {e likely
to encounter. Second, I learned that}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {Japanese newspapers are fairly difficult
to }\fs24\cf0\f0\charscalex100 {read. Even native Japanese may have
trouble}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {reading
everything in a newspaper.}\par\pard\li1133\ri0\sl-213\slmult0
{Dangerously armed with these tw}\fs24\cf0\f0\charscalex100 {o tidbits of trivia, I
made it }\fs24\cf0\f0\charscalex100 {a point to ask applicants
how}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {many Kanji
characters they knew and whether or }\fs24\cf0\f0\charscalex100 {not they could
read a Japanese newspaper.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {It worked really well. However, it wasn\uc1\u8217Xt so
much}{ }\fs24\cf0\f0\charscalex100\i {what}\i0 \fs24\cf0\f0\charscalex100 { they
answered but}{ }\fs24\cf0\f0\charscalex100\i {how}\i0 \fs24\cf0\f0\charscalex100
{ they}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {answered
that made the difference. I quickly }\fs24\cf0\f0\charscalex100 {discovered that
the good applicants had a pretty}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {good idea how many characters they knew
and }\fs24\cf0\f0\charscalex100 {were concerned that}\fs24\cf0\f0\charscalex100 { I
didn\uc1\u8217Xt know how}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {difficult it was to read Japanese
newspapers. }\fs24\cf0\f0\charscalex100 {They understood the significance of what I
was}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {asking. They
knew all about Japanese newspapers}\fs24\cf0\f0\charscalex100 { and they knew that
was a tall order. The}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {less qualified applicants would generally spit
out }\fs24\cf0\f0\charscalex100 {some quick answer like,}\fs24\cf0\f0\charscalex100
{ \uc1\u8220Xprobably\uc1\u8221X or \uc1\u8220Xof}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {course\uc1\u8221X or \uc1\u8220XI
don\uc1\u8217Xt know\uc1\u8221X or whatever. If }\fs24\cf0\f0\charscalex100 {any of
them said they knew about 1,000 Kanji}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {characters and could read a Japanese
newspa}\fs24\cf0\f0\charscalex100 {per I knew they were lying. The rest of
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {interview would
then shift into \uc1\u8220Xquick, polite,}\fs24\cf0\f0\charscalex100
{ and pointless\uc1\u8221X mode. They were wasting my }\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {time and I was wasting theirs. Move
on.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Again, assessing skills shouldn\uc1\u8217Xt
take very mu}\fs24\cf0\f0\charscalex100 {ch of your time during
th}\fs24\cf0\f0\charscalex100 {e interview. Whether}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {via a test of some sort or
by }\fs24\cf0\f0\charscalex100 {asking a few direct questions,
ski}\fs24\cf0\f0\charscalex100 {lls are almost always easy
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{determine.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Assessing personality is where you
wa}\fs24\cf0\f0\charscalex100 {nt to spend most of your
in}\fs24\cf0\f0\charscalex100 {terview. It is more
difficult}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {and more
important in the long run. I\uc1\u8217Xll take }\fs24\cf0\f0\charscalex100 {an
employee who is enjoyable, teachable, and}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {proactive over a highly skilled moron any
day.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {I\uc1\u8217Xve had some employers tell me
that assessi}\fs24\cf0\f0\charscalex100 {ng personality is impossible. I
disagree.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {However,
I have found that some managers do it well and others
don\uc1\u8217Xt.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\m
argrsxn133\cols2\colno1\colw9026\colsr-0\colno2\colw2413\pard\li1133\ri0\sl-
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {One of the
best ways to assess a person\uc1\u8217Xs personality is by using scenarios during
the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {interview.
Scenarios, as used }\fs24\cf0\f0\charscalex100 {during an interview, should
alwa}\fs24\cf0\f0\charscalex100 {ys involve placing a
candidate}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {in a
difficult position that requires them to in}\fs24\cf0\f0\charscalex100 {teract with
people in order to solve some}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {problem or other. It\uc1\u8217Xs not as hard as it
sounds}\fs24\cf0\f0\charscalex100 {. Just think of the position for which you
are}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {hiring. What
are some of the most difficult or }\fs24\cf0\f0\charscalex100 {extreme situations
that}\fs24\cf0\f0\charscalex100 { can occur with that}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {position? Explain such a situation to the
appl}\fs24\cf0\f0\charscalex100 {icant and ask them how they would handle
it.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Pay particular
attention to how they say they }\fs24\cf0\f0\charscalex100 {would interact with
other people during these}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {scenarios. I\uc1\u8217Xve found that to be the most
impor}\fs24\cf0\f0\charscalex100 {tant aspect of hiring good employees. If
they}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {interact well
with other people, chances are }\fs24\cf0\f0\charscalex100 {that they will be a
teachable team player.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {Here are
some quick examples that should be}\fs24\cf0\f0\charscalex100 { customized for your
specific business and the}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {job in question. Notice that most of these
exam}\fs24\cf0\f0\charscalex100 {ples allow the applicant to answer and
then}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {follow up with
related situations that push th}\fs24\cf0\f0\charscalex100 {e candidate to think
a }\fs24\cf0\f0\charscalex100 {little more about the}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {situation.}\par\pard\li1493\ri0\sl-
{What would you say to a customer that b}\fs24\cf0\f0\charscalex100 {ecomes
incredibly irate with you due to no}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {fault of your own? What if it was your
fault }\fs24\cf0\f0\charscalex100 {that the customer is irate? What
would}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {you say to
them in that case? What would you say to your manager? }\par\pard\li1493\ri0\sl-
{Suppose you\uc1\u8217Xve been given entirely too much}\fs24\cf0\f0\charscalex100 {
work. Each of the various projects}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {you\uc1\u8217Xve been given has a tight deadline.
Th}\fs24\cf0\f0\charscalex100 {ere is absolutely no way you\uc1\u8217Xre going
to}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {get them all
done in time. It just isn\uc1\u8217X}\fs24\cf0\f0\charscalex100 {t going to happen.
How would you handle this}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {situation? }\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {Suppose you have a tight deadline on
one }\fs24\cf0\f0\charscalex100 {of your projects, but}\fs24\cf0\f0\charscalex100 {
you depend on other}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{departments (or co-workers within your ow}\fs24\cf0\f0\charscalex100 {n
department) in order to complete the}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {project. One or more of the people you
de}\fs24\cf0\f0\charscalex100 {pend on isn\uc1\u8217Xt doing
thei}\fs24\cf0\f0\charscalex100 {r job and it\uc1\u8217Xs
killing}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {your
project. What would you do? (Give tim}\fs24\cf0\f0\charscalex100 {e to respond.)
Suppose you talked to this}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {person and did the best you could to
persua}\fs24\cf0\f0\charscalex100 {de them and you still weren\uc1\u8217Xt getting
the}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {results you
need. What would you do then? }\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {Suppose you have two separate
managers gi}\fs24\cf0\f0\charscalex100 {ving you conflicting information about
a}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {project
you\uc1\u8217Xre working on. Both are adaman}\fs24\cf0\f0\charscalex100 {t about
their opinions. There\uc1\u8217Xs no way to}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {make both of them happy. What would you
do?}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {As you can tell, there may not be a right
or wr}\fs24\cf0\f0\charscalex100 {ong answer to these types of questions.
The}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {answers you get
will generally involve various }\fs24\cf0\f0\charscalex100 {shades of gray. In
fact, before you even ask}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {such questions you may want to tell the
appli}\fs24\cf0\f0\charscalex100 {cant that there are no
ri}\fs24\cf0\f0\charscalex100 {ght or wrong answers.}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {You just want to hear them talk. This helps
to }\fs24\cf0\f0\charscalex100 {ease the pressure of thi}\fs24\cf0\f0\charscalex100
{nking they have to find}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {the one and only answer }\fs24\cf0\f0\charscalex100
{that you\uc1\u8217Xre looking for.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {By using
scenarios such as these you\uc1\u8217Xll be ab}\fs24\cf0\f0\charscalex100 {le to
learn a lot about}\fs24\cf0\f0\charscalex100 { a person. You\uc1\u8217Xll
learn}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {about their
general disposition, demeanor, character, wisdom, temperament,
experience,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{passion, ability to think on their }\fs24\cf0\f0\charscalex100 {feet, etc. Using
scenarios is by far the best method I\uc1\u8217Xve}\par\pard\li1133\ri0\sl-
266\slmult0
\fs24\cf0\f0\charscalex100 {found to learn about a candidate\uc1\u8217Xs true
persona}\fs24\cf0\f0\charscalex100 {lity during an interview. The bulk of
your}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {interview
should involve th}\fs24\cf0\f0\charscalex100 {is kind of
questioning.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margr
466\slmult0 \fs24\cf0\f0\charscalex100\b \i {Allow the candidate to ask you
questions.}\b0 \i0 { }\fs24\cf0\f0\charscalex100 {Towards the end of the interview
simply ask,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{\uc1\u8220XWhat questions do you have for me? You ma}\fs24\cf0\f0\charscalex100 {y
ask anything you want about the job, the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {company, the salary, the benefits, whatever.\uc1\u8221X
}\fs24\cf0\f0\charscalex100 {This is another good way to learn about
the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {goals and
personality of the ca}\fs24\cf0\f0\charscalex100 {ndidate. If they ask about
some}\fs24\cf0\f0\charscalex100 {thing they learned from
your}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {website, that
tells you something. If they ask a }\fs24\cf0\f0\charscalex100 {lot of questions
about }\fs24\cf0\f0\charscalex100 {raises (I.E. how much,}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {how soon, is there any way to get more,
etc.}\fs24\cf0\f0\charscalex100 {), then you have a pretty good idea what
to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {expect after
they\uc1\u8217Xre hire}\fs24\cf0\f0\charscalex100 {d. Just listen to their
questions a}\fs24\cf0\f0\charscalex100 {nd answer them honestly. Try to
get}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {them to ask any
question they may have. Sometim}\fs24\cf0\f0\charscalex100 {es you have to make
them feel comfortable}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {before they\uc1\u8217Xll open up to
you.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs22\cf0\f0\charscalex100\b \i {Make sure the interview was
comprehensive.}\b0 \i0 { }\fs22\cf0\f0\charscalex100 {The last question you should
always ask is, \uc1\u8220XIs}\par\pard\li1133\ri0\sl-280\slmult0
\fs22\cf0\f0\charscalex100 {there anything else you wish I
w}\fs22\cf0\f0\charscalex100 {ould have asked, but didn\uc1\u8217Xt?
Is }\fs22\cf0\f0\charscalex100 {there anything else you\uc1\u8217Xd
like}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {to say on your
behalf?\uc1\u8221X Don\uc1\u8217Xt make the mistak}\fs24\cf0\f0\charscalex100 {e of
thinking that you\uc1\u8217Xre so good at this that}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {you couldn\uc1\u8217Xt possibly have left
anything out. }\fs24\cf0\f0\charscalex100 {And don\uc1\u8217Xt let them leave
thinking that the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{interview was incomplete or didn\uc1\u8217Xt allow }\fs24\cf0\f0\charscalex100
{them to put their best foot forward.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {In
summary, here\uc1\u8217Xs an outline of a pretty good interview
process:}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{Before even meeting with the applicant, save yourself some time by using a hands-
on}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {skills test to
weed out those w}\fs24\cf0\f0\charscalex100 {ith insufficient or lesser
skills.}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{Interview the top candidates first (based on th}\fs22\cf0\f0\charscalex100 {eir
resume and test results) and compare}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {others to them as you proceed.}\par\pard\li1493\ri0\sl-
\*\tx1853\fs24\cf0\f0\charscalex100 {3.}\tab \fs24\cf0\f0\charscalex100 {Start the
interview by quickly covering the }\fs24\cf0\f0\charscalex100 {basic, mandatory
stuff like salary range,}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {benefits, when they could start if hired,
etc.}\fs24\cf0\f0\charscalex100 { If these are unsatisf}\fs24\cf0\f0\charscalex100
{actory to either you or}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {the applicant, then why proceed
w}\fs24\cf0\f0\charscalex100 {ith the rest of the
interview?}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{Ask them to tell you about themselves \uc1\u8211X }\fs24\cf0\f0\charscalex100
{anything that they think you ought to know}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {about them or would want to know if
they }\fs24\cf0\f0\charscalex100 {were giving the
intervie}\fs24\cf0\f0\charscalex100 {w. (Be careful here}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {not to encourage information that
doesn\uc1\u8217Xt }\fs24\cf0\f0\charscalex100 {matter, is none of your business, or
is}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {illegal such as
age, marita}\fs24\cf0\f0\charscalex100 {l status, race, religion,
etc.)}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{Ask them a quick series of questions about}\fs24\cf0\f0\charscalex100 { their
experience and skills. (I.E. favorite}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {job \uc1\u8211X why, least favorite job \uc1\u8211X
why, how }\fs24\cf0\f0\charscalex100 {a specific skill was learned,
greatest}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{accomplishments, specific skills mentioned in their resume,
etc.)}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{Give them a few different scenarios to deal with. }\par\pard\li1493\ri0\sl-
\*\tx1853\fs24\cf0\f0\charscalex100 {7.}\tab \fs24\cf0\f0\charscalex100 {Ask if
there are any questions}\fs24\cf0\f0\charscalex100 { they would like to ask
you }\fs24\cf0\f0\charscalex100 {regarding the job,
salary,}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {hours,
benefits, etc.}\par\pard\li1493\ri0\sl-213\slmult0
{8.}\tab \fs24\cf0\f0\charscalex100 {Ask if there are any other issues they
woul}\fs24\cf0\f0\charscalex100 {d like to mention to you that didn\uc1\u8217Xt
come }\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {up during the
interview.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsx
{9.}\tab \fs24\cf0\f0\charscalex100 {Give them an estimated timetable for
when}\fs24\cf0\f0\charscalex100 { you plan to fill the position and when
they}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {might hear
back from you, one way or the other.}\par\pard\li1493\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1493\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {10.}
{ }\fs24\cf0\f0\charscalex100 {Give them your card so they can follow
up }\fs24\cf0\f0\charscalex100 {with you, if desired. (Sometimes this is
a}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {great way to see
how interested and motiv}\fs24\cf0\f0\charscalex100 {ated they
really }\fs24\cf0\f0\charscalex100 {are about the job.)}\par\pard\li1493\ri0\sl-
{11.}{ }\fs24\cf0\f0\charscalex100 {Thank them for coming in and wish them
luck.}\par\pard\li1133\ri0\sl-213\slmult0
{Interviewing is tough. Being interviewed is }\fs24\cf0\f0\charscalex100 {even
worse. Nobody should leave an interview}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {feeling diminished or belittled. Always
show}\fs24\cf0\f0\charscalex100 { respect and appreciation for each
candidate.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {By following these guidelines
you\uc1\u8217Xll find yourse}\fs24\cf0\f0\charscalex100 {lf saving time, giving
better interviews,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{hiring better employees, and, ultimately, impr}\fs24\cf0\f0\charscalex100 {oving
your overall business in very meaningful}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {ways. Surrounding yourself with good people will
al}\fs24\cf0\f0\charscalex100 {most always increase your ability to
both}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {succeed in
your chosen field as well as crea}\fs24\cf0\f0\charscalex100 {te a positive,
enjoyable place to work. Good}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {managers understand that these
i}\fs24\cf0\f0\charscalex100 {ssues generally go hand in
hand.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\b \ul {Getting A Good Mix Of Employees}\b0 \ul0
\fs24\cf0\f0\charscalex100 {I once heard a joke that epitomizes some of
the }\fs24\cf0\f0\charscalex100 {different perspectives employees have
within}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {any given
business. Those of you who have been}\fs24\cf0\f0\charscalex100 { in business for a
while}\fs24\cf0\f0\charscalex100 {, especially within}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {the high-tech industry, are
likely }\fs24\cf0\f0\charscalex100 {to relate to this story very well. Those of you
who are just}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{starting out will learn to }\fs24\cf0\f0\charscalex100 {appreciate it more and
more as you gain experience. It goes like this:}\par\pard\li1853\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1853\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100\i {There
once was a man who decided to take a }\i0 \fs24\cf0\f0\charscalex100\i {ride in his
hot air balloon. As the day}\i0 \par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\i {progressed a large patch of low hanging clouds}\i0
\fs24\cf0\f0\charscalex100\i { began to roll in. It became so thick}\i0
\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {that the man
could no longe}\i0 \fs24\cf0\f0\charscalex100\i {r see the ground beneath him and
became disoriented.}\i0 \par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100\i {Getting a little worried about }\i0
\fs24\cf0\f0\charscalex100\i {the situation, he decides to}\i0
\fs24\cf0\f0\charscalex100\i { descend until he can see}\i0
\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {something he
recognizes. He descends al}\i0 \fs24\cf0\f0\charscalex100\i {most all the way to
the ground before he}\i0 \par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\i {finally begins to see things again. Still, hi}\i0
\fs24\cf0\f0\charscalex100\i {s vision was so impaired }\i0
\fs24\cf0\f0\charscalex100\i {by the fog that he}\i0 \par\pard\li1853\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100\i {can\uc1\u8217Xt determine where he
is.}\i0 \par\pard\li1853\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1853\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100\i {Pretty soon he sees a man walking
below }\i0 \fs24\cf0\f0\charscalex100\i {him. He yells down to the man,
\uc1\u8220XHey buddy,}\i0 \par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100\i {can you tell me where I am?\uc1\u8221X The man
on }\i0 \fs24\cf0\f0\charscalex100\i {the ground responds, \uc1\u8220XSure,
you\uc1\u8217Xre in a}\i0 \par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\i {hot air balloon about thirty feet above }\i0
\fs24\cf0\f0\charscalex100\i {the ground.\uc1\u8221X The balloonist chuckles}\i0
\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {knowingly and
says, \uc1\u8220XYou must be an engineer}\i0 \fs24\cf0\f0\charscalex100\i
{.\uc1\u8221X \uc1\u8220XAs a matter of fact I am,\uc1\u8221X replies}\i0
\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {the man on the
ground. \uc1\u8220XHow did you know?\uc1\u8221X The man in the balloon
explains,}\i0 \par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100\i
{\uc1\u8220XBecause everything you told me was techni}\i0
\fs24\cf0\f0\charscalex100\i {cally accurate but completely useless.\uc1\u8221X}\i0
\fs24\cf0\f0\charscalex100\i {The engineer returns a polite smile and sa}\i0
\fs24\cf0\f0\charscalex100\i {ys, \uc1\u8220XYou must be in marketing.\uc1\u8221X
Shocked,}\i0 \par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100\i {the
balloonist replies, \uc1\u8220XThat\uc1\u8217Xs true. How in}\i0
\fs24\cf0\f0\charscalex100\i { the world did you know that?\uc1\u8221X
\uc1\u8220XBecause}\i0 \par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100\i {you\uc1\u8217Xve managed to get yourself}\i0
\fs24\cf0\f0\charscalex100\i { into trouble and now you exp}\i0
\fs24\cf0\f0\charscalex100\i {ect me to fix it for you,\uc1\u8221X}\i0
\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {says the
engineer.}\i0 \par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {This is a fantastic description of the
inner wo}\fs24\cf0\f0\charscalex100 {rkings of many businesses. Which one of
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {gentlemen is
right? Well, they both are. Both f}\fs24\cf0\f0\charscalex100 {eel very justified
in th}\fs24\cf0\f0\charscalex100 {eir stereotypes of
each}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\c
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {other and,
in fact, they are just}\fs24\cf0\f0\charscalex100 {ified to a large extent. Each
one}\fs24\cf0\f0\charscalex100 { sees the world differently
and}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {has difficulty
understanding why the other person }\fs24\cf0\f0\charscalex100 {sees it any other
way. The marketer wants}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {to see the big picture so he
can}\fs24\cf0\f0\charscalex100 { steer things in the right
dire}\fs24\cf0\f0\charscalex100 {ction. The engineer wants to
look}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {at the details
because nothing he}\fs24\cf0\f0\charscalex100 { does in life works without
333\slmult0 \fs24\cf0\f0\charscalex100 {Some people believe that a good management
t}\fs24\cf0\f0\charscalex100 {eam always views things the same way
or}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {always agrees
with each other. I\uc1\u8217Xve seen ot}\fs24\cf0\f0\charscalex100 {her businesses
that have }\fs24\cf0\f0\charscalex100 {one strong personality
in}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {charge that
surrounds himself with \uc1\u8220Xyes men\uc1\u8221X }\fs24\cf0\f0\charscalex100
{\uc1\u8211X people who won\uc1\u8217Xt challenge the status quo
or}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {stand up for
their views. If the }\fs24\cf0\f0\charscalex100 {guy in charge is really
brilliant}\fs24\cf0\f0\charscalex100 {, this approach can work.
Most}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {of the time it
doesn\uc1\u8217Xt.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs22\cf0\f0\charscalex100 {The best
businesses have strong leaders who don\uc1\u8217Xt ha}\fs22\cf0\f0\charscalex100
{ve to be in charge }\fs22\cf0\f0\charscalex100 {of everything in
order}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {to feel
secure and comfortable. They\uc1\u8217Xre able }\fs24\cf0\f0\charscalex100 {and
eager to hear the op}\fs24\cf0\f0\charscalex100 {inions of others
and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {allow
themselves to be wrong or outvoted. They }\fs24\cf0\f0\charscalex100 {like to make
decisions and then delegate to}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {competent managers, rather than micromanage. The best
management teams always have a}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {good mix of personalities and
stre}\fs24\cf0\f0\charscalex100 {ngths that feed off of each other in positive
ways. This}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{means they also have their share of weaknesses }\fs24\cf0\f0\charscalex100 {and
need each other in order to produce the}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {best possible results. They recognize
that }\fs24\cf0\f0\charscalex100 {diversity encourages }\fs24\cf0\f0\charscalex100
{creative solutions and}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {resourcefulness. Two minds
are }\fs24\cf0\f0\charscalex100 {better than one only when they are not identical
to each}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{other.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {It is important that you surround yourself
with }\fs24\cf0\f0\charscalex100 {people that are different than you are
\uc1\u8211X people}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{who view and approach life in a different }\fs24\cf0\f0\charscalex100 {way than
you do. As long as you can control egos}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {(including your own), the more variety you
ha}\fs24\cf0\f0\charscalex100 {ve among a management team or even
your}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {entire
employee base, the more }\fs24\cf0\f0\charscalex100 {effective they will tend to
be}\fs24\cf0\f0\charscalex100 { and the more successful
your}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {company is
likely to become.}\par\pard\li1133\ri0\sl-213\slmult0
build your organization correctly, whethe}\fs24\cf0\f0\charscalex100 {r by accident
or on purpose, there will be a}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {natural set of checks and balances between
depart}\fs24\cf0\f0\charscalex100 {ments. It is generally best if
departments}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {depend
on each other or have a variety of in}\fs24\cf0\f0\charscalex100 {terdependent job
descriptions in order to}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {accomplish their respective
respons}\fs24\cf0\f0\charscalex100 {ibilities. As they start to
ta}\fs24\cf0\f0\charscalex100 {lk about their needs not
being}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {met, or some
person or team not giving them }\fs24\cf0\f0\charscalex100 {the support they need,
you should view this as}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {an opportunity to identify and solve problems
th}\fs24\cf0\f0\charscalex100 {at otherwise might go unnoticed for
months}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {or even
years.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {This interdependency is a great way to
fine}\fs24\cf0\f0\charscalex100 {-tune your process and improve your
business.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Avoid
bash sessions \uc1\u8211X meetings in which peopl}\fs24\cf0\f0\charscalex100 {e are
discussed instead of issues. The goal}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {should seldom be to place blame. Rather,
the }\fs24\cf0\f0\charscalex100 {objective should
always }\fs24\cf0\f0\charscalex100 {be focused on defining}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {and solving a problem. While
ther}\fs24\cf0\f0\charscalex100 {e are certainly times when
the }\fs24\cf0\f0\charscalex100 {problem is a person, most
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the time the
problem will be a process, a tool, a policy, or a procedure of some
kind.}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Whenever
these problems are identified and }\fs24\cf0\f0\charscalex100 {fixed, your company
grows. Employee diversity}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {and departmental interdependence are good
ways}\fs24\cf0\f0\charscalex100 { to continually identify and solve
such}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {problems. It
is a good idea to keep this in}\fs24\cf0\f0\charscalex100 { mind as you interview
and hire people for you}\par\pard\li1133\ri0\sl-280\slmult0
{business.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsx
\fs18\cf0\par\pard\li1133\ri0\sl-400\slmult0 \fs24\cf0\f0\charscalex100\b \i {How
To Motivate Employees}\b0 \i0 \par\pard\li1133\ri0\sl-346\slmult0
\fs24\cf0\f0\charscalex100 {Another factor that can make the
difference }\fs24\cf0\f0\charscalex100 {between a good company and a great company
is}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {the ability to
properly motivate your employ}\fs24\cf0\f0\charscalex100 {ees. When employees are
motivated, they do}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{things for you that unmotivated employees
won\uc1\u8217X}\fs24\cf0\f0\charscalex100 {t do. They stay late
to}\fs24\cf0\f0\charscalex100 { get projects done.}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {They care about doing a job
righ}\fs24\cf0\f0\charscalex100 {t the first time. They
respon}\fs24\cf0\f0\charscalex100 {d well when asked to go
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {extra mile.
They take criticism better. They l}\fs24\cf0\f0\charscalex100 {ead by example. This
list can go on and on. It is}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {impossible to adequately express the
va}\fs24\cf0\f0\charscalex100 {lue of properly motivated
employees.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Interestingly enough, when all is said and
done th}\fs24\cf0\f0\charscalex100 {ere are really only three ways to
motivate}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {employees.
They are:}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
{Punish them (worst method \uc1\u8211X used by unsuccessful to mediocre
companies/managers)}\par\pard\li1493\ri0\sl-213\slmult0
{2.}\tab \fs24\cf0\f0\charscalex100 {Reward them (better method \uc1\u8211X used by
}\fs24\cf0\f0\charscalex100 {mediocre to good
companies/managers)}\par\pard\li1493\ri0\sl-213\slmult0
{3.}\tab \fs24\cf0\f0\charscalex100 {Job satisfaction \uc1\u8211X do it because
they enj}\fs24\cf0\f0\charscalex100 {oy it (best method \uc1\u8211X used by good to
great}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{companies/managers)}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {By far the
worst form of motivation is punishment. This may include probation,
bad}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {evaluations,
threats of bei}\fs24\cf0\f0\charscalex100 {ng fired, yelling, demotions, and all
kinds of other negative}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {techniques. Perhaps the most common form
of }\fs24\cf0\f0\charscalex100 {negative motivation
invol}\fs24\cf0\f0\charscalex100 {ves verbal criticism,}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {such as snide remarks, intimidating
comments, or threats. This approach to motivation is}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {basically forcing your employees to choose
be}\fs24\cf0\f0\charscalex100 {tween the lesser of tw}\fs24\cf0\f0\charscalex100 {o
evils. Employees}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{motivated by negative reinforcement will inevit}\fs24\cf0\f0\charscalex100 {ably
have a poor attitude. They will say to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {themselves, \uc1\u8220XI hate this job but I need the
money. I\uc1\u8217Xm only here because I have to be.\uc1\u8221X
The}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {chance of
creating a great company when your }\fs24\cf0\f0\charscalex100 {employees have this
kind of attitude is }\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{absolutely zero. You may get some \uc1\u8220Xgood\uc1\u8221X
re}\fs24\cf0\f0\charscalex100 {sults using these methods, but you will
never}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100 {produce great
results. In additi}\fs22\cf0\f0\charscalex100 {on, by using negative
methods }\fs22\cf0\f0\charscalex100 {of motivation you can make
life}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{a living hell for both yourself and your employ}\fs24\cf0\f0\charscalex100 {ees.
Sometimes a little negative reinforcement}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {can go a long way. But if your main
approach }\fs24\cf0\f0\charscalex100 {to motivating employees is some form
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {punishment,
criticism, or threat, you\uc1\u8217Xre doing ev}\fs24\cf0\f0\charscalex100 {eryone
a disservice, especially yourself and}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {your business.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Rewards
work better than punishments, but not }\fs24\cf0\f0\charscalex100 {as well as most
people think. Rewards can be}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {anything, but they are usually based on some
ki}\fs24\cf0\f0\charscalex100 {nd of monetary compensation. There are
also}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {rewards
involving titles, bigger offices, more tim}\fs24\cf0\f0\charscalex100 {e off,
gifts, stock options, equity, etc. The}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {list is almost endless if
you\uc1\u8217Xre}\fs24\cf0\f0\charscalex100 { even a little creative.
People }\fs24\cf0\f0\charscalex100 {generally respond well to
rewards}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {with one
exception: If you continually set high }\fs24\cf0\f0\charscalex100 {expectations it
can be }\fs24\cf0\f0\charscalex100 {difficult to live up
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {them. Employees
that are used to being reward}\fs24\cf0\f0\charscalex100 {ed well can actually
become very unmotivated}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {whenever they\uc1\u8217Xre not getting
an}\fs24\cf0\f0\charscalex100 { extra reward of some kind.}\par\pard\li1133\ri0\sl-
{WordPerfect Corporation was a classic example of}\fs24\cf0\f0\charscalex100 { this
problem. They used to provide free}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {drinks and ice cream every day for every
empl}\fs24\cf0\f0\charscalex100 {oyee in the company. Everyone was entitled
to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {two cans of soda
and one ice cream each day. It }\fs24\cf0\f0\charscalex100 {was just a simple
nicety that kind of grew up}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {with the
company.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn1
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
413\slmult0 \fs24\cf0\f0\charscalex100 {As everyone in the high-tech industry
know}\fs24\cf0\f0\charscalex100 {s now, the time eventually arrived
when}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {WordPerfect
began to struggle financially. One of}\fs24\cf0\f0\charscalex100 { the first things
to go was the free drinks}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {and ice cream. You would have thought
they }\fs24\cf0\f0\charscalex100 {were cutting off the employees\uc1\u8217X arms.
With no}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{exaggeration I heard everything fr}\fs24\cf0\f0\charscalex100 {om, \uc1\u8220XThey
can\uc1\u8217Xt treat us this}\fs24\cf0\f0\charscalex100 { way,\uc1\u8221X to
\uc1\u8220XI guess I\uc1\u8217Xll start}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {applying at companies that know how to treat
th}\fs24\cf0\f0\charscalex100 {eir employees.\uc1\u8221X Needless to say,
it\uc1\u8217Xs unlikely}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {that any of these ex-employees found
anothe}\fs24\cf0\f0\charscalex100 {r company with free
dr}\fs24\cf0\f0\charscalex100 {inks and ice cream.}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {People are funny. It was all
abou}\fs24\cf0\f0\charscalex100 {t expectations and inexperience. But the damage
was done}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {all the
same.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {The moral of the story is, \uc1\u8220XUse
rewards, but}\fs24\cf0\f0\charscalex100 { use them wisely.\uc1\u8221X Be sure to
set proper}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{expectations. Use various type}\fs24\cf0\f0\charscalex100 {s of rewards and change
often so employees don\uc1\u8217Xt come to}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {expect something from you that was never
inte}\fs24\cf0\f0\charscalex100 {nded to be anything more than a nice
perk.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {By far, the most beneficial type of
motivati}\fs24\cf0\f0\charscalex100 {on in the world occurs when someone
genuinely}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {enjoys
the work they do. I fi}\fs24\cf0\f0\charscalex100 {rst learned this as a young
boy }\fs24\cf0\f0\charscalex100 {growing up on the outskirts
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Boise, Idaho.
Like most boys, I struggled to }\fs24\cf0\f0\charscalex100 {wake up in the morning
for either school or}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{church. It just wasn\uc1\u8217Xt any fun. }\fs24\cf0\f0\charscalex100 {My mom
would often have difficul}\fs24\cf0\f0\charscalex100 {ty getting me out of bed
for}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {either of these
two activities. However, my }\fs24\cf0\f0\charscalex100 {younger brother and I
woul}\fs24\cf0\f0\charscalex100 {d consistently wake}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {up at about 5:00 AM every week to watch
Sa}\fs24\cf0\f0\charscalex100 {turday morning cartoons. There was no
alarm }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {clock and
nobody else woke us up. We just did }\fs24\cf0\f0\charscalex100 {it out of sheer
desire. Those of you who are}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {younger may not appreciate this experience as
mu}\fs24\cf0\f0\charscalex100 {ch as some of us baby boomers do.
This}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {was back when
they didn\uc1\u8217Xt have all night }\fs24\cf0\f0\charscalex100 {programming.
Stations would sign off at about}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {midnight and then sign on again early the
next}\fs24\cf0\f0\charscalex100 { morning. Sometimes my brother and I
would}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {wake up so
early on Saturdays that the programming hadn\uc1\u8217Xt even begun yet. But
instead of}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {going
back to bed we would lite}\fs24\cf0\f0\charscalex100 {rally stare at the fuzz on
the sc}\fs24\cf0\f0\charscalex100 {reen and listen to the
static}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {until the
familiar multi-colored bands appeared }\fs24\cf0\f0\charscalex100 {and the buzz
turned into a shrill hum. And}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {this was the exciting part because we knew
th}\fs24\cf0\f0\charscalex100 {at cartoons would shortly follow. We
loved}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {every minute
of it. For some reason it was ne}\fs24\cf0\f0\charscalex100 {ver difficult to get
out of bed on Saturday}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {mornings.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {All of us
have stories like these.}\fs24\cf0\f0\charscalex100 { Just think of
those }\fs24\cf0\f0\charscalex100 {things you love to do such as play
golf,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {fish, fix
cars, play sports, etc. How hard is it}\fs24\cf0\f0\charscalex100 { to get you to
go do what you love to do? Most of}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {the time people have to hold you back
to}\fs24\cf0\f0\charscalex100 { keep you from doing what you love to
333\slmult0 \fs24\cf0\f0\charscalex100 {Imagine what would happen if you and your
empl}\fs24\cf0\f0\charscalex100 {oyees loved your work. You may say
that\uc1\u8217Xs}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{impossible, nobody loves to work. If that\uc1\u8217Xs
your }\fs24\cf0\f0\charscalex100 {view of work, then I say it\uc1\u8217Xs a shame
that}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {you spend most
of your waking hours doing somethi}\fs24\cf0\f0\charscalex100 {ng that you
don\uc1\u8217Xt enjoy. }\fs24\cf0\f0\charscalex100 {Life is too
short}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {for that. The
same applies to your employees. It}\fs24\cf0\f0\charscalex100 {\uc1\u8217Xs a shame
if they don\uc1\u8217X}\fs24\cf0\f0\charscalex100 {t enjoy at least
some }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {aspect of
their work. In fact, if your empl}\fs24\cf0\f0\charscalex100 {oyees hate their
work, they should try to go}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {elsewhere and you should try to replace them
with}\fs24\cf0\f0\charscalex100 { someone else. I know that\uc1\u8217Xs easier
said}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {than done. But
the principle is basically true.}\par\pard\li1133\ri0\sl-213\slmult0
373\slmult0 \fs24\cf0\f0\charscalex100\b {The Top Ten Employee Motivators}\b0
\fs24\cf0\f0\charscalex100 {When most people talk about job
satisfaction }\fs24\cf0\f0\charscalex100 {or employee motivation, the discussion
usually}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {begins and
ends with money. Almost everyone w}\fs24\cf0\f0\charscalex100 {ill say that money
is the thing that
motivates}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {him or her
the most at work. However, pretty much every study ever made on the subject
has}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {concluded that
this isn\uc1\u8217Xt the case. In fact, m}\fs24\cf0\f0\charscalex100 {onetary
compensation is usually not even in the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {top five most important employee motivators.
It }\fs24\cf0\f0\charscalex100 {is true that monetary rewards may
determine}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {whether
or not someone joins your company in the first place. But it is not the thing
that}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {motivates
employees to enjoy their work or to}\fs24\cf0\f0\charscalex100 { do a great job.
Even if you have a stellar}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {employee, if they are unhappy in their job
you }\fs24\cf0\f0\charscalex100 {are unlikely to get 100% out of them. And
you}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{have no chance of getting 110% from them. Great}\fs24\cf0\f0\charscalex100
{ companies are filled with employees who}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {give 110%, not because they
have }\fs24\cf0\f0\charscalex100 {to, but because they want
to.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {There are various studies out there related
to }\fs24\cf0\f0\charscalex100 {job satisfaction, but
they}\fs24\cf0\f0\charscalex100 { generally don\uc1\u8217Xt
differ}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {from each
other very much. The following list comes from Joe Phelps, CEO of The
Phelps}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Group in
Southern California. If you\uc1\u8217Xre like }\fs24\cf0\f0\charscalex100 {most
employers or managers, this list may}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {surprise you a bit. Here are the top ten
ways}\fs24\cf0\f0\charscalex100 { to motivate your employees and achieve
job}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {satisfaction
throughout your company:}\par\pard\li1493\ri0\sl-213\slmult0
{1.}\tab \fs24\cf0\f0\charscalex100\b \i {Recognition for a job well done:}\b0
\i0 \fs24\cf0\f0\charscalex100 { Mark Twain said he could live for two months on
a}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {good compliment.
It is widely known that r}\fs24\cf0\f0\charscalex100 {ecognition is the number one
motivator of }\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{people.}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100\b \i {A healthy working environment:}\b0 \i0
\fs24\cf0\f0\charscalex100 { Clean, well-lit, adequate space; the
proper}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {equipment;
and inhabited by people who }\fs24\cf0\f0\charscalex100 {care and who communicate
in an honest,}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{timely fashion. Some companies have workout}\fs24\cf0\f0\charscalex100 { rooms and
bring in trainers to help}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {their teams achieve optimum
health.}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100\b \i {Meaningful work:}\b0 \i0
\fs24\cf0\f0\charscalex100 { This means trading your time
in}\fs24\cf0\f0\charscalex100 { life to help achieve
something}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{worthwhile. This can be something with}\fs24\cf0\f0\charscalex100 {in the company,
the community or even}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {global. Remind your team that everything
th}\fs24\cf0\f0\charscalex100 {ey do that touches other people
adds}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {meaning to
their lives and their work.}\par\pard\li1493\ri0\sl-213\slmult0
{4.}\tab \fs22\cf0\f0\charscalex100\b \i {Responsibility:}\b0 \i0
\fs22\cf0\f0\charscalex100 { People need to believe that
they}\fs22\cf0\f0\charscalex100 { are responsible for their own
actions,}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {and that
they are trusted. Self-directed t}\fs24\cf0\f0\charscalex100 {eams give people
clear responsibility. They}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {are also the ultimate delegation tool for busy
executives.}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100\b \i {Accountability:}\b0 \i0 \fs24\cf0\f0\charscalex100
{ A feeling of ownership and of }\fs24\cf0\f0\charscalex100 {outcomes. It is a
sense of the}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{proverbial buck stopping with every single pe}\fs24\cf0\f0\charscalex100 {rson and
not in the lap of someone far}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {down the line. People on self-directed
team}\fs24\cf0\f0\charscalex100 {s willingly hold each
ot}\fs24\cf0\f0\charscalex100 {her accountable as }\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {well as themselves. Accountability
is }\fs24\cf0\f0\charscalex100 {the ability to follow through with
{commitments.}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100\b \i {Equitable compensation:}\b0 \i0
\fs24\cf0\f0\charscalex100 { Linked not to longevity or rank, but to performance;
being}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {treated like
partners; possi}\fs24\cf0\f0\charscalex100 {ble equity in
the }\fs24\cf0\f0\charscalex100 {business can be important. There
are}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {numerous ways
to do this such as ESOP}\fs24\cf0\f0\charscalex100 {, phantom stock, bonuses, etc.
I personally}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {favor
using performance-based commissions}\fs24\cf0\f0\charscalex100 { or bonuses. Speak
with a compensation}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{expert to find out what is }\fs24\cf0\f0\charscalex100 {best for your company, and
then put the plan into
action.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn13
of Business}\i0
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
\fs24\cf0\f0\charscalex100\b \i {The chance to learn:}\b0 \i0
\fs24\cf0\f0\charscalex100 { Opportunities to grow
into }\fs24\cf0\f0\charscalex100 {more significant positions
with}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {greater
responsibility and ultimately, to }\fs24\cf0\f0\charscalex100 {increase
one\uc1\u8217Xs value to the organization.}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {Supporting the team members in getting
adva}\fs24\cf0\f0\charscalex100 {nced degrees or improving their
skills}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {through
classes or conferences is a gr}\fs24\cf0\f0\charscalex100 {eat way to open this
door for them.}\par\pard\li1493\ri0\sl-213\slmult0
{8.}\tab \fs24\cf0\f0\charscalex100\b \i {The chance to do great work:}\b0 \i0
\fs24\cf0\f0\charscalex100 { Not just work that meets minimum standards
and}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {expectations,
but quality work: A+ work! As}\fs24\cf0\f0\charscalex100 {k your team what it takes
for them to do}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{their job really well and ask if they'll commit to that
standard. }\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100\b \i {Understanding:}\b0 \i0 \fs24\cf0\f0\charscalex100
{ Knowing how the work relates to }\fs24\cf0\f0\charscalex100 {the realization of
the overall goals}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{of the business. Sharing the company goals}\fs24\cf0\f0\charscalex100 {, and
getting input from your team at}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {company meetings is a great tool
fo}\fs24\cf0\f0\charscalex100 {r getting buy-in and creating
understanding.}\par\pard\li1493\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1493\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {10.}
{ }\fs24\cf0\f0\charscalex100\b \i {The chance to work with interes}\b0 \i0
\fs24\cf0\f0\charscalex100\b \i {ting, motivated, responsible people:}\b0 \i0
\fs24\cf0\f0\charscalex100 { People whose}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {personal and professional goals are in
a}\fs24\cf0\f0\charscalex100 {lignment with one\uc1\u8217Xs own. Encourage
your}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {team members
to introduce great people }\fs24\cf0\f0\charscalex100 {to your company; you never
know when}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{you\uc1\u8217Xll meet someone who is a great fit.}\par\pard\li1133\ri0\sl-
{The funny thing about lists like these is that }\fs24\cf0\f0\charscalex100
{employees themselves won\uc1\u8217Xt agree with them.}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {Employees will almost always say that
they\uc1\u8217Xd rather be paid than praised. And yet the
studies}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {always
prove them wrong. My own experience }\fs24\cf0\f0\charscalex100 {with this list has
made me a believer.}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{Employees always\uc1\u8230XALWAYS respond well to thes}\fs24\cf0\f0\charscalex100
{e types of motivators. It\uc1\u8217Xs sometimes}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {difficult to instill these types
of}\fs24\cf0\f0\charscalex100 { motivators into a company or department, especially
if it has}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {a history
of using negative motivators. But on}\fs24\cf0\f0\charscalex100 {ce this type of
corporate culture has been}\par\pard\li1133\ri0\sl-266\slmult0
\fs22\cf0\f0\charscalex100 {established and becomes the norm, there\uc1\u8217Xs
al}\fs22\cf0\f0\charscalex100 {most no going back. Peopl}\fs22\cf0\f0\charscalex100
{e actually enjoy going}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {to work, even if they don\uc1\u8217Xt
enjoy }\fs24\cf0\f0\charscalex100 {all aspects of the work they
333\slmult0 \fs24\cf0\f0\charscalex100 {I\uc1\u8217Xve heard that the average
employee will produce}\fs24\cf0\f0\charscalex100 { meaningful work for about five
out of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {every eight
hours on the job. The other thr}\fs24\cf0\f0\charscalex100 {ee hours are spent in
mostly unproductive}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{activities. When employees don\uc1\u8217Xt feel secure
in}\fs24\cf0\f0\charscalex100 { their jobs this rati}\fs24\cf0\f0\charscalex100 {o
can drop to only three}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {productive hours out of every eight. This is
es}\fs24\cf0\f0\charscalex100 {pecially true during acquisitions or when
lay}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {offs are
pending. However, my experience has c}\fs24\cf0\f0\charscalex100 {onsistently been
that people will produce}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {well above the five-hour average whenever
thes}\fs24\cf0\f0\charscalex100 {e top ten motivators are squarely in
place.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Only by incorporating this top ten list
into }\fs24\cf0\f0\charscalex100 {your daily corporate
cu}\fs24\cf0\f0\charscalex100 {lture can your company}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {become a great company. Without this type
of co}\fs24\cf0\f0\charscalex100 {rporate culture it is
li}\fs24\cf0\f0\charscalex100 {kely that you will only}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {become a good company at
best.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\b {Performance-Based Compensation}\b0
\fs24\cf0\f0\charscalex100 {Whenever possible, employees should be
gi}\fs24\cf0\f0\charscalex100 {ven \uc1\u8220Xa part of the action\uc1\u8221X so to
speak.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {Commissions,
bonuses, and other types of moneta}\fs24\cf0\f0\charscalex100 {ry compensation can
have a tremendously}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{positive effect on your employees and your busine}\fs24\cf0\f0\charscalex100 {ss.
Traditionally, these kinds of monetary}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {rewards have been reserved only for upper management
and sales personnel. Whenever}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {possible, this type of compensation package
sh}\fs24\cf0\f0\charscalex100 {ould be implemented with other employees
as}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{well.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133
466\slmult0 \fs24\cf0\f0\charscalex100 {The best possible way to do this is to
tie}\fs24\cf0\f0\charscalex100 { some portion of an employee\uc1\u8217Xs
compensation}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{directly to the success of th}\fs24\cf0\f0\charscalex100 {e company. Ideally this
will be revenue for which they are}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {directly responsible in some
way }\fs24\cf0\f0\charscalex100 {or other, but it can also be
co}\fs24\cf0\f0\charscalex100 {rporate revenue in general.
For}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {example, if a
large portion of}\fs24\cf0\f0\charscalex100 { your revenue is
reoccurring }\fs24\cf0\f0\charscalex100 {from repeat customers and
you}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {have project or
account managers who are dire}\fs24\cf0\f0\charscalex100 {ctly responsible
for }\fs24\cf0\f0\charscalex100 {keeping those repeat}\par\pard\li1133\ri0\sl-
280\slmult0 \fs22\cf0\f0\charscalex100 {customers happy, then you should seriously
cons}\fs22\cf0\f0\charscalex100 {ider giving those managers a commission
on}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {all repeat
business generated from those customer}\fs24\cf0\f0\charscalex100 {s. This
doesn\uc1\u8217Xt have to be a lot, but it does}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {need to be significant
enough to motivate the em}\fs24\cf0\f0\charscalex100 {ployees and make
them }\fs24\cf0\f0\charscalex100 {feel that they are}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {part of the bigger
picture.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {I\uc1\u8217Xve found that by compensating
key employees in this manner they tend to change their}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {entire attitude. Instead of complaining
about ha}\fs24\cf0\f0\charscalex100 {ving too many clients
or }\fs24\cf0\f0\charscalex100 {projects, they tend to}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {ask for more. Instead of complaining that
they}\fs24\cf0\f0\charscalex100 { don\uc1\u8217Xt have enough
peopl}\fs24\cf0\f0\charscalex100 {e to adequately do the}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {job, they tend to complain that the
compa}\fs24\cf0\f0\charscalex100 {ny is overstaffed and thereby taking money
away}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {from them. The
bottom line is }\fs24\cf0\f0\charscalex100 {that when employees are compensated in
this manner they}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{tend to make things more efficient and profita}\fs24\cf0\f0\charscalex100 {ble.
And those employees who don\uc1\u8217Xt adopt this}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {attitude know exactly why they\uc1\u8217Xre
not making as}\fs24\cf0\f0\charscalex100 { much money as
the }\fs24\cf0\f0\charscalex100 {person next to them }\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {who is doing exactly the same
job.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {If you have employees that are not directly
re}\fs24\cf0\f0\charscalex100 {sponsible for either generating new revenue
or}\par\pard\li1133\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {influencing
reoccurring revenue, you can still ba}\fs22\cf0\f0\charscalex100 {se some portion
of their compensation on the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {overall corporate revenue. This can come in
th}\fs24\cf0\f0\charscalex100 {e form of a monthly or }\fs24\cf0\f0\charscalex100
{quarterly bonus that is}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {based on actual numbers. Depending on the
situa}\fs24\cf0\f0\charscalex100 {tion, it is often a good idea to base
such}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {bonuses on
profitability or increased }\fs24\cf0\f0\charscalex100 {revenue rather than gross
revenue.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {When employees are compensated in this way
y}\fs24\cf0\f0\charscalex100 {ou\uc1\u8217Xll find they tend to
ch}\fs24\cf0\f0\charscalex100 {ange their attitudes}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {quite a bit. They become much more
interest}\fs24\cf0\f0\charscalex100 {ed in the overall well-being of the company
and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {tend to feel
like they are part}\fs24\cf0\f0\charscalex100 { of something bigger than
just}\fs24\cf0\f0\charscalex100 { their job. They begin to
take}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {notice of how
their specific jobs contribute to }\fs24\cf0\f0\charscalex100 {the whole in
meaningful ways and they begin}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {to look for new ways to do a better job.
You\uc1\u8217X}\fs24\cf0\f0\charscalex100 {ll also find that they will tend to
become }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {evangelists
for your company and products. Inst}\fs24\cf0\f0\charscalex100 {ead of simply
telling people where they}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {work, they will tend to identify and
encourag}\fs24\cf0\f0\charscalex100 {e people to engage your business and buy
your}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {products and
services. They look at life differe}\fs24\cf0\f0\charscalex100 {ntly if they know
they will be monetarily}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {rewarded in some way as a result of their
efforts. }\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {Another byproduct of this type of
compensation }\fs24\cf0\f0\charscalex100 {is that employees will begin to
identify}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {weaknesses
in your process, produc}\fs24\cf0\f0\charscalex100 {ts, tools, facilities, or
anything else that seems to be}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {limiting their ability to do a better job. If
their }\fs24\cf0\f0\charscalex100 {bonus is based on profitability instead of
gross}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {revenue, they
will also understand the tradeoff }\fs24\cf0\f0\charscalex100 {required to fix
these problems. Here\uc1\u8217Xs one}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {possible scenario to make the
point:}\par\pard\li1853\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1853\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100\i {Employees}\i0 \fs24\cf0\f0\charscalex100
{: \uc1\u8220XIf we had better hardware and soft}\fs24\cf0\f0\charscalex100 {ware
we could do our jobs better and}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {thereby generate more revenue and receive higher
bonuses.\uc1\u8221X (Notice that the very}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {issue itself has changed to a discussion
a}\fs24\cf0\f0\charscalex100 {bout revenue instead of }\fs24\cf0\f0\charscalex100
{compensation
alone.) }\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn
{Management}\i0 \fs24\cf0\f0\charscalex100 {: \uc1\u8220XIf we update our hardware
and so}\fs24\cf0\f0\charscalex100 {ftware it will cost the
company}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {$50,000
dollars. This in turn will affect our pr}\fs24\cf0\f0\charscalex100 {ofitability
for a few months and, hence,}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {your bonus amount for the next few months.
If}\fs24\cf0\f0\charscalex100 { these updates will truly make us
more}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {profitable in
the long run, then it is worth it }\fs24\cf0\f0\charscalex100 {for all of us to
sacrifice a little bit now so}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {we can make more money in the long run. Will this
investment enable you to be that}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {much more productive or would it be better
to}\fs24\cf0\f0\charscalex100 { find ways to make due with what
we}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {have?\uc1\u8221X
}\par\pard\li1853\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1853\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\i {Employees}\i0 \fs24\cf0\f0\charscalex100
{: \uc1\u8220XWe\uc1\u8217Xd rather not give up our
current }\fs24\cf0\f0\charscalex100 {bonuses over this issue. Let us see
if}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {we can find ways
to increase productivity us}\fs24\cf0\f0\charscalex100 {ing what we\uc1\u8217Xve
currently got.\uc1\u8221X Or they}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {will say, \uc1\u8220XYes, this
investme}\fs24\cf0\f0\charscalex100 {nt will make a huge difference in our
productivity and}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{we\uc1\u8217Xre willing to take a hit to}\fs24\cf0\f0\charscalex100 { our current
bonus in order to}\fs24\cf0\f0\charscalex100 { increase that amount in
the}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {coming months
and years.\uc1\u8221X}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {The ideal
scenario put aside for }\fs24\cf0\f0\charscalex100 {a moment; this is the kind of
thinking you want to instill in}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {your employees. You want them to think
outside }\fs24\cf0\f0\charscalex100 {of their own little world. They
won\uc1\u8217Xt always}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {be right and you\uc1\u8217Xll find that some
employees }\fs24\cf0\f0\charscalex100 {will always make dumb suggestions, but
in}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {general this
type of compensation package work}\fs24\cf0\f0\charscalex100 {s very well.
Employees take more pride in}\par\pard\li1133\ri0\sl-280\slmult0
{their work and tend to see the bigger pictur}\fs24\cf0\f0\charscalex100 {e. They
want to understand the big picture}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {because it directly affects them in the same
wa}\fs24\cf0\f0\charscalex100 {y it directly affects the company as a
whole.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {The other benefit of this type of
compensa}\fs24\cf0\f0\charscalex100 {tion package is that it eliminates a lot
of }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {complaints
about salaries and ra}\fs24\cf0\f0\charscalex100 {ises. In general, if an
employ}\fs24\cf0\f0\charscalex100 {ee knows that they will share
in}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the success of
the organization }\fs24\cf0\f0\charscalex100 {they not only start to do
things}\fs24\cf0\f0\charscalex100 { to help that
organization}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{succeed, they also tend to understand more when}\fs24\cf0\f0\charscalex100 { the
organization can\uc1\u8217Xt afford to pay them }\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {more. They tend not to associate their
compen}\fs24\cf0\f0\charscalex100 {sation with their
speci}\fs24\cf0\f0\charscalex100 {fic job or how much}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {money they need to live the lifestyle they
want}\fs24\cf0\f0\charscalex100 { to live. Rather, they tend to associate
their}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {compensation
with how well the company is}\fs24\cf0\f0\charscalex100 { doing and how well their
specific job is}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{contributing to that corporate success. This is by fa}\fs24\cf0\f0\charscalex100
{r the better attitude to}\fs24\cf0\f0\charscalex100 { foster and it is
also}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the more
accurate view to take.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {As with
most policies and procedures, this ap}\fs24\cf0\f0\charscalex100 {proach to
compensation also has its downsides}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {as well. Here are some potentially negative
as}\fs24\cf0\f0\charscalex100 {pects to watch for and of which you should
be}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{cautious.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\i {Be careful of setting }\i0
\fs24\cf0\f0\charscalex100\i {expectations too high.}\i0 \fs24\cf0\f0\charscalex100
{ If at all possible, treat }\fs24\cf0\f0\charscalex100 {this compensation as a
true }\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{\uc1\u8220Xbonus\uc1\u8221X that can and will change in the future.}
{ }\fs24\cf0\f0\charscalex100\i {Put this in writing and give it to each}\i0
\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100\i {employee.}\i0
\fs24\cf0\f0\charscalex100 { It should be viewed as extra
compensa}\fs24\cf0\f0\charscalex100 {tion or as a thank you, rather than
an}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {expected part of
their compensation. This can be}\fs24\cf0\f0\charscalex100 { difficult to
accomplish unless it is presented}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {in writing to the employees and
reemphasized }\fs24\cf0\f0\charscalex100 {from time to time. WordPerfect
Corporation}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {used to
give great Christmas bonuses every year}\fs24\cf0\f0\charscalex100 {. Literally
every year they gave the same }\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {speech about how the employees shouldn\uc1\u8217Xt
count on these bonuses and how they were only}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {possible because of how well the company
was }\fs24\cf0\f0\charscalex100 {doing. They made it very clear that the
day}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {may come when
there would be no Christmas bonus}\fs24\cf0\f0\charscalex100 {es or at least
thes}\fs24\cf0\f0\charscalex100 {e bonuses wouldn\uc1\u8217Xt
be}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {as generous as
they had previously been. Yet,}\fs24\cf0\f0\charscalex100 { when these bonuses were
finally taken away it}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {was still viewed by many as a negative rather than
simply the lack of a
positive.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
\fs24\cf0\f0\charscalex100\i {Make sure you do the math when it comes to this type
of compensation}\i0 \fs24\cf0\f0\charscalex100 {. If you base things
on}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {percentages,
make sure}\fs24\cf0\f0\charscalex100 { you can afford those percentages. The idea
is that this form of}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{compensation rewards people for making your comp}\fs24\cf0\f0\charscalex100 {any
more efficient and therefore, more}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {profitable. But if your accounting hasn\uc1\u8217Xt
t}\fs24\cf0\f0\charscalex100 {hought this through well enough and taken
various}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {scenarios
into account, you\uc1\u8217Xll fi}\fs24\cf0\f0\charscalex100 {nd yourself paying
your employees into bankruptcy. This}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {sounds like an obvious issue. Yet I\uc1\u8217Xve seen
mi}\fs24\cf0\f0\charscalex100 {stakes made in this area that have
cost}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {companies in
both profitability and employee moral.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100\i {Be
cautious in valuating and commu}\i0 \fs24\cf0\f0\charscalex100\i {nicating
employees\uc1\u8217X contributions.}\i0 \fs24\cf0\f0\charscalex100 { Every
employee}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {thinks
that his or her job is mo}\fs24\cf0\f0\charscalex100 {re important than
anyone}\fs24\cf0\f0\charscalex100 { else\uc1\u8217Xs job. Unfortunately this point
of}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {view seems to be
somewhat universal among }\fs24\cf0\f0\charscalex100 {all of us, executives
included. It is often}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {difficult to tactfully explain to employees
which }\fs24\cf0\f0\charscalex100 {job descriptions are vital to the company
and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {which are
merely important. (All positions in a }\fs24\cf0\f0\charscalex100 {company are
important. If they aren\uc1\u8217Xt, then}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {you should get rid of them.) In general,
key }\fs24\cf0\f0\charscalex100 {employees who have a direct and
meaningful}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {impact
on the revenue and profitability of your }\fs24\cf0\f0\charscalex100 {business
should receive the more meaningful}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {and potentially rewarding bonus or
commissi}\fs24\cf0\f0\charscalex100 {on packages. This can clearly cause
some }\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {contention
and misunderstandings. If these perc}\fs24\cf0\f0\charscalex100 {eptions are not
managed well they can make}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {a very positive bonus plan become viewed
as }\fs24\cf0\f0\charscalex100 {a platform for unfairn}\fs24\cf0\f0\charscalex100
{ess and favoritism. In}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {most cases it is best to keep
compensa}\fs24\cf0\f0\charscalex100 {tion packages as
conf}\fs24\cf0\f0\charscalex100 {idential as possible.}\par\pard\li1133\ri0\sl-
{Along with the misperceptions among employees, }\fs24\cf0\f0\charscalex100
{you\uc1\u8217Xll also sometimes encounter the same }\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {misperceptions and self-centered attitude
am}\fs24\cf0\f0\charscalex100 {ong your management team and (heaven
forbid)}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100 {even within
yourself. Make sure you understand }\fs22\cf0\f0\charscalex100 {and make good
judgments about what\uc1\u8217Xs vital}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {and what\uc1\u8217Xs merely important. The best way to
do }\fs24\cf0\f0\charscalex100 {this is to ask questions like, \uc1\u8220XIf this
position}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {was twice
as efficient, how much would that a}\fs24\cf0\f0\charscalex100 {ffect our bottom
line?\uc1\u8221X or}\fs24\cf0\f0\charscalex100 {, \uc1\u8220XIf this position
was}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {eliminated, how
much would that }\fs24\cf0\f0\charscalex100 {affect our bottom line?\uc1\u8221X In
orde}\fs24\cf0\f0\charscalex100 {r to be effective, bonus
and}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {commission-
based compensation packages have to}\fs24\cf0\f0\charscalex100 { be tied directly
to }\fs24\cf0\f0\charscalex100 {the realities of your}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {company\uc1\u8217Xs financial stability and
growth. If th}\fs24\cf0\f0\charscalex100 {ey aren\uc1\u8217Xt then you\uc1\u8217Xll
find them to be less}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{effective than they otherwise could be.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {When all
is said and done the pros of thes}\fs24\cf0\f0\charscalex100 {e types of
compensation }\fs24\cf0\f0\charscalex100 {packages outweigh
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {cons. If you do
your accounting homework and mana}\fs24\cf0\f0\charscalex100 {ge expectations and
perceptions well,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{bonuses and commissions will help you to bett}\fs24\cf0\f0\charscalex100 {er
motivate your employees, become more}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {efficient as an organization, and increase your
profitability.}\par\pard\li1133\ri0\sl-213\slmult0
373\slmult0 \fs24\cf0\f0\charscalex100\b {Breaking The Corporate Rulebook}\b0
\fs24\cf0\f0\charscalex100 {Another common mistake businesses make
comes }\fs24\cf0\f0\charscalex100 {in the form of doing what other
companies}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {have
traditionally done instead of what make}\fs24\cf0\f0\charscalex100 {s sense. While
many co}\fs24\cf0\f0\charscalex100 {rporate cultures have}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {changed since the late 80\uc1\u8217Xs and
early 90\uc1\u8217Xs, most}\fs24\cf0\f0\charscalex100 { businesses are still fairly
inflexible when it}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{comes to such things as time off, microm}\fs24\cf0\f0\charscalex100 {anaging, work
hours, telecommuting, policies,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {procedures, etc. Some companies seem to
feel }\fs24\cf0\f0\charscalex100 {that the way things have always been done
is}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {the way they
always should be done. Here are }\fs24\cf0\f0\charscalex100 {a few corporate
policies that I\uc1\u8217Xve found to be}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {very helpful when trying to
create}\fs24\cf0\f0\charscalex100 { a motivated and loyal
workforce.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsx
of Business}\i0
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100\i {Instead
of sick days and vacation da}\i0 \fs24\cf0\f0\charscalex100\i {ys, use a paid time
off program.}\i0 \fs24\cf0\f0\charscalex100 { Paid time off or
PTO}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {days are
generally accrued just }\fs24\cf0\f0\charscalex100 {like sick or vacation days
except that they combine sick and}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {vacation days together. It doesn\uc1\u8217Xt matter
whether the employee stays home because they\uc1\u8217Xre}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {sick or on vacation. It all counts the
same. PT}\fs24\cf0\f0\charscalex100 {O days have the effect of making
employees}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {not miss
work due to minor illnesses because }\fs24\cf0\f0\charscalex100 {they know
they\uc1\u8217Xre using up a vacation day. It}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {also rewards employees who don\uc1\u8217Xt
get sick as}\fs24\cf0\f0\charscalex100 { often and tends to
penalize those who are}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {always sick, or who may want you to think
that}\fs24\cf0\f0\charscalex100 { they\uc1\u8217Xre sick. I like
to}\fs24\cf0\f0\charscalex100 { let employees accrue}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {1� PTO days per month or 18 per year. These
da}\fs24\cf0\f0\charscalex100 {ys should carry over from year to year,
but}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {be sure to put
a cap on it or you\uc1\u8217Xll have some}\fs24\cf0\f0\charscalex100 { employees
accrue an }\fs24\cf0\f0\charscalex100 {incredible amount
of}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100 {days. There
should be a \uc1\u8220Xuse it or lose it\uc1\u8221X cap }\fs22\cf0\f0\charscalex100
{that only allows them to accrue up to a certain}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {level. No employee that I know of has ever
co}\fs24\cf0\f0\charscalex100 {mplained about this system and it tends
to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {make employees
feel more responsible and re}\fs24\cf0\f0\charscalex100 {warded, while removing the
temptation to \uc1\u8220Xcall}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {in sick\uc1\u8221X when they\uc1\u8217Xre having a bad
day. Encour}\fs24\cf0\f0\charscalex100 {age your employees to go home if they
ever}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {come to work
sick. The only thing worse than}\fs24\cf0\f0\charscalex100 { an employee missing
work}\fs24\cf0\f0\charscalex100 { because they fake}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {being sick is a whole department missing
work because a sick employee didn\uc1\u8217Xt stay home }\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {when they should
have.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\i {Floating holidays are also a good way to
reward employees.}\i0 \fs24\cf0\f0\charscalex100 { A floating holiday is basically
a}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {bonus PTO day. I
like giving three of them to }\fs24\cf0\f0\charscalex100 {each employee at the
beginning of the year.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {These cannot be accrued. They must be used
by }\fs24\cf0\f0\charscalex100 {the end of the year or they lose them.
The}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {advantage here
is at least two-fold: 1) the empl}\fs24\cf0\f0\charscalex100 {oyees tend to view
this as a bonus rather than}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {a normal part of their package and therefore
feel}\fs24\cf0\f0\charscalex100 { more rewarded, and 2) }\fs24\cf0\f0\charscalex100
{it tends to encourage}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {every employee to take at least some time
of}\fs24\cf0\f0\charscalex100 {f during the year. Some old school
managers}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {may think
that taking time off is a negative ra}\fs24\cf0\f0\charscalex100 {ther than a
positive. My experience has been}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {that people are better employees when
they}\fs24\cf0\f0\charscalex100 { can get away from work every so
often.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100\i {Be flexible and project-focused when
allowing employees to go on vacation.}\i0 \fs24\cf0\f0\charscalex100 { I tend to
say yes}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {to almost
every request from any employee who wants to take some vacation days. My
only}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {stipulation is
that they are willing to do any wo}\fs24\cf0\f0\charscalex100 {rk that is required
of them while they are}\par\pard\li1133\ri0\sl-280\slmult0
\fs22\cf0\f0\charscalex100 {gone. I tell them to take
their }\fs22\cf0\f0\charscalex100 {cell phones and check their
email }\fs22\cf0\f0\charscalex100 {messages. I tell them to
make}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {sure their
customers or projects are taken care }\fs24\cf0\f0\charscalex100 {of. If
there\uc1\u8217Xs something very important that}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {they need to be a part of, I
te}\fs24\cf0\f0\charscalex100 {ll them to find a way to be a
part}\fs24\cf0\f0\charscalex100 { of it while they are away.
If}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {they need to
finish a report, or respond to an }\fs24\cf0\f0\charscalex100 {important email, or
meet a deadline, I tell them }\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {to make sure it gets done while they\uc1\u8217Xre gone.
W}\fs24\cf0\f0\charscalex100 {ith today\uc1\u8217Xs technology, this usually
isn\uc1\u8217Xt very}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{difficult for them to do. You may be thinking that}\fs24\cf0\f0\charscalex100
{ this approach will ru}\fs24\cf0\f0\charscalex100 {in their vacations
and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {tend to de-
motivate the employee. Not so. If}\fs24\cf0\f0\charscalex100 { explained
properly, }\fs24\cf0\f0\charscalex100 {it is a
fantastically}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{motivating approach. For example, you can say to}\fs24\cf0\f0\charscalex100
{ them, \uc1\u8220XThis is an important project. You}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {can go on vacation as long as you can be
availa}\fs24\cf0\f0\charscalex100 {ble for that conference call next
Thursday.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{Otherwise, I\uc1\u8217Xm afraid it\uc1\u8217Xs just not a good
tim}\fs24\cf0\f0\charscalex100 {e for you to be gone.\uc1\u8221X What would you
rather}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {do, make
time for a two-hour c}\fs24\cf0\f0\charscalex100 {onference call while basking
in }\fs24\cf0\f0\charscalex100 {the Bahamas or not go to
the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Bahamas in the
first place because}\fs24\cf0\f0\charscalex100 { this call is just too important
and you need to be a part of}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {it? Never once have I }\fs24\cf0\f0\charscalex100 {ever
had an employee complain }\fs24\cf0\f0\charscalex100 {about this approach. Quite
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {opposite. They
(and their families) sing praises to my name and to the company they
work}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {for because we
are so flexible and understanding. \uc1\u8220XYou sacrifice a bit for me and
I\uc1\u8217Xll}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{sacrifice a bit for you,\uc1\u8221X is an}\fs24\cf0\f0\charscalex100 { approach
everyone can appr}\fs24\cf0\f0\charscalex100 {eciate and feel good
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100\i {Provide
some form of health and de}\i0 \fs24\cf0\f0\charscalex100\i {ntal insurance if at
all possible.}\i0 \fs24\cf0\f0\charscalex100 { If you have a
choice}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {between
giving people raises or providing in}\fs24\cf0\f0\charscalex100 {surance, provide
insurance. If your company}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {pays at least half of the premium as a
standa}\fs24\cf0\f0\charscalex100 {rd benefit, you will
1) }\fs24\cf0\f0\charscalex100 {attract more employees}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {when hiring, 2) make employees feel more
secu}\fs24\cf0\f0\charscalex100 {re and want to stay employed with your
firm }\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {longer, and
3) make spouses feel more secure}\fs24\cf0\f0\charscalex100 { so they encourage
your employees to remain}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {employed with your firm. Never underestimate
the }\fs24\cf0\f0\charscalex100 {power of getting the spouses on your
side.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {It helps a
lot!}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100\i {Christmas break\uc1\u8230Xah yes, that
time}\i0 \fs24\cf0\f0\charscalex100\i { between Christmas and New Years}\i0
\fs24\cf0\f0\charscalex100 {. It comes around}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {every year and every year I see certain
busine}\fs24\cf0\f0\charscalex100 {sses forcing their employees to come to
work}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {only to watch them get nothing done and
wish }\fs24\cf0\f0\charscalex100 {they were elsewhere the whole time.
Their}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {only
alternative is to burn some vacation days}\fs24\cf0\f0\charscalex100 {. Why do
these businesses }\fs24\cf0\f0\charscalex100 {force this upon
their}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {employees?
Mostly because somebody, somewher}\fs24\cf0\f0\charscalex100 {e in the business
world felt that it should}\par\pard\li1133\ri0\sl-280\slmult0
\fs22\cf0\f0\charscalex100 {be done that way, even though it\uc1\u8217Xs absolutely
ridi}\fs22\cf0\f0\charscalex100 {culous. Obviously not
al}\fs22\cf0\f0\charscalex100 {l businesses are this}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {way. Some need to stay open
dur}\fs24\cf0\f0\charscalex100 {ing this time. But for those
bus}\fs24\cf0\f0\charscalex100 {inesses that get little or
no}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {work done
between Christmas and New Years, }\fs24\cf0\f0\charscalex100 {do the Moses thing
and \uc1\u8220Xlet your people go.\uc1\u8221X}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {Don\uc1\u8217Xt make them use vacation
days. If it doesn}\fs24\cf0\f0\charscalex100 {\uc1\u8217Xt hurt your business
to}\fs24\cf0\f0\charscalex100 { close down during the}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {Christmas break, then why not do so? Your
empl}\fs24\cf0\f0\charscalex100 {oyees will be more motivated, rested,
and}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {once again
you\uc1\u8217Xll get their families on your side.}\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\i {Provide budgets for department and company
gatherings.}\i0 \fs24\cf0\f0\charscalex100 { These don\uc1\u8217Xt have to be
expensive}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {but are
great for both motivating employees as we}\fs24\cf0\f0\charscalex100 {ll as
bringing them closer together as a}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {team. Something as simple as buying
lunch }\fs24\cf0\f0\charscalex100 {for your employees once a month can make
a}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {huge
difference.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {These are just a few of the
th}\fs24\cf0\f0\charscalex100 {ings I\uc1\u8217Xve found to be very helpful in
making employees feel}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {motivated and satisfied in their job.
Again, }\fs24\cf0\f0\charscalex100 {the bottom line is that happy employees
produce}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {more work.
When making corporate policies, throw away the traditions and just do
what}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {makes
sense.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\b \ul {Be Honest With Your Employees}\b0 \ul0
\fs24\cf0\f0\charscalex100 {For some reason, many executives have
developed }\fs24\cf0\f0\charscalex100 {the belief that they can\uc1\u8217Xt be
honest with}\par\pard\li1133\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {their
employees. They think employees must be }\fs22\cf0\f0\charscalex100 {sheltered from
any bad news or anything that}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {may make them think poorly of their job,
th}\fs24\cf0\f0\charscalex100 {e company, or a situation. While
understanding}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {that
certain things must be kept confidential }\fs24\cf0\f0\charscalex100 {in any
business, it\uc1\u8217Xs important to treat your}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {employees like adults instead of children,
ev}\fs24\cf0\f0\charscalex100 {en if they don\uc1\u8217Xt always behave like
adults.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {I\uc1\u8217Xve watched struggling companies
tell nothing but }\fs24\cf0\f0\charscalex100 {lies to their employees in order
to \uc1\u8220Xkeep}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{up moral.\uc1\u8221X This seldom works. Employees gene}\fs24\cf0\f0\charscalex100
{rally find out sooner or later that they\uc1\u8217Xve}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {been lied to, or they just end up thinking
that }\fs24\cf0\f0\charscalex100 {their management team
is}\fs24\cf0\f0\charscalex100 { so out of touch with}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {reality that they shouldn\uc1\u8217Xt
be }\fs24\cf0\f0\charscalex100 {running the company in the
first }\fs24\cf0\f0\charscalex100 {place. Allow employees to
hear}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {problems with
which the company is dealing.}\par\pard\li1133\ri0\sl-213\slmult0
{Here\uc1\u8217Xs the key to sharing bad news with employees:}
{ }\fs24\cf0\f0\charscalex100\i {For every potentially discouraging}\i0
\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i {problem you share
with them you have to have so}\i0 \fs24\cf0\f0\charscalex100\i {me potential
solutions to share with them as}\i0
colno1\colw7693\colsr-0\colno2\colw3746\pard\li1133\ri0\sl-213\slmult0
ect\sectd\sbkpage
2;12;16384;45824;1;45824;1;45824;1;45824;1;45824;24577;32768}}
413\slmult0 \fs24\cf0\f0\charscalex100\i {well.}\i0 \fs24\cf0\f0\charscalex100
{ Employees can help if they understand the probl}\fs24\cf0\f0\charscalex100 {em
and feel that there is a plan in place}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {to solve that problem. Employees can even
d}\fs24\cf0\f0\charscalex100 {eal with not having a so}\fs24\cf0\f0\charscalex100
{lution yet but having a}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {plan to create a solution.
But }\fs24\cf0\f0\charscalex100 {employees can\uc1\u8217Xt and won\uc1\u8217Xt deal
}\fs24\cf0\f0\charscalex100 {with hearing about problems }\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {with no solutions or finding out that the
peopl}\fs24\cf0\f0\charscalex100 {e who are supposed to be leading them
have}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {just plain
lied to them. It can be very diffi}\fs24\cf0\f0\charscalex100 {cult to gain their
trust again after such an}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {experience.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {While
keeping appropriate things confidentia}\fs24\cf0\f0\charscalex100 {l, just be as
honest as you can with your}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {employees.}\par\pard\li1133\ri0\sl-213\slmult0
373\slmult0 \fs24\cf0\f0\charscalex100\b \ul {Lunch And Learns}\b0 \ul0
\fs24\cf0\f0\charscalex100 {One of the best ways to both motivate
and }\fs24\cf0\f0\charscalex100 {educate your employees is by holding
regular}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {lunch and
learn sessions. These are informal se}\fs24\cf0\f0\charscalex100 {ssions to which
your employees come to learn}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {more about their job, the
comp}\fs24\cf0\f0\charscalex100 {any, your strategy, your
custom}\fs24\cf0\f0\charscalex100 {ers, and so forth \uc1\u8211X
anything}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {that will
help them to be more productive a}\fs24\cf0\f0\charscalex100 {nd happier employees.
If you\uc1\u8217Xve got the budget,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {buy them lunch. If you have a limited
budget, }\fs24\cf0\f0\charscalex100 {then buy them desert. If you have no
budget,}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {then
encourage them to bring their own lunches on these days.}\par\pard\li1133\ri0\sl-
{Because it\uc1\u8217Xs during lunchtime nobody is generally going to miss a lot of
work. If you hold}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{these meetings at regular times, advertise them }\fs24\cf0\f0\charscalex100 {well,
and prepare properly, things tend to fall}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {into place. You can decide
if}\fs24\cf0\f0\charscalex100 { these gatherings are
mandato}\fs24\cf0\f0\charscalex100 {ry or voluntary. If you\uc1\u8217Xre
buying}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {lunch you
can generally get away with maki}\fs24\cf0\f0\charscalex100 {ng them mandatory.
If }\fs24\cf0\f0\charscalex100 {you only hold them once}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {or twice a month people
don\uc1\u8217X}\fs24\cf0\f0\charscalex100 {t generally feel like they\uc1\u8217Xre
being imposed upon.}\par\pard\li1133\ri0\sl-213\slmult0
take the time to make these gatherings }\fs24\cf0\f0\charscalex100 {well planned,
interesti}\fs24\cf0\f0\charscalex100 {ng, and worthwhile
{experience increased productivity }\fs24\cf0\f0\charscalex100 {from your employees
and help them to feel like they are}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {part of something bigger. They\uc1\u8217Xll better
understa}\fs24\cf0\f0\charscalex100 {nd how their piece of the puzzle fits into
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {bigger picture
of corporate goa}\fs24\cf0\f0\charscalex100 {ls and strategies. This can also be a
good time to let}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{employees ask questions and get to hear from }\fs24\cf0\f0\charscalex100 {upper
management \uc1\u8211X something that is done all}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {too seldom in most companies. If you ever
run }\fs24\cf0\f0\charscalex100 {out of topics, just ask the employees to
make}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {some
suggestions. They\uc1\u8217Xll usually have some }\fs24\cf0\f0\charscalex100 {and
it serves as a good barometer of what\uc1\u8217Xs on}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {their minds and what they think is
important.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
\fs24\cf0\f0\charscalex100\b {Get The Employee\uc1\u8217Xs Family On Your
Side}\b0 \fs24\cf0\f0\charscalex100\b { }\b0 \par\pard\li1133\ri0\sl-333\slmult0
\fs24\cf0\f0\charscalex100 {Sometimes employees don\uc1\u8217Xt know when
they }\fs24\cf0\f0\charscalex100 {have a good thing. Whether you\uc1\u8217Xre
talking}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {about
spouses, significant othe}\fs24\cf0\f0\charscalex100 {rs, children, roommates, or
whatever, the people surrounding}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {each of your employees can have a tremendous
ef}\fs24\cf0\f0\charscalex100 {fect on how they view their work. If
the}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {people
surrounding your employees are always }\fs24\cf0\f0\charscalex100 {saying positive
things about your employee\uc1\u8217Xs}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {job and company, that tends to make for
happi}\fs24\cf0\f0\charscalex100 {er, more motivated employees. It\uc1\u8217Xs
tough to}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {hate your
work when everyone around you tells }\fs24\cf0\f0\charscalex100 {you how cool your
company is or how they}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {wished they worked there. It can be a
very }\fs24\cf0\f0\charscalex100 {powerful tool in your }\fs24\cf0\f0\charscalex100
{arsenal to achieve and }\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {maintain job satisfaction among your
employees.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsx
isn\uc1\u8217Xt very hard to do. You just need to}\fs24\cf0\f0\charscalex100 { do
positive things that you know will be seen,}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {heard, and even experienced by the employees\uc1\u8217X
l}\fs24\cf0\f0\charscalex100 {oved ones. Here are a few suggestions
that}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {I\uc1\u8217Xve
found to be helpful in this regard:}\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs22\cf0\f0\charscalex100 {Company parties can be a very
effective wa}\fs22\cf0\f0\charscalex100 {y to get
significant }\fs22\cf0\f0\charscalex100 {others involved.
I\uc1\u8217Xve}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{found you don\uc1\u8217Xt have to do anyt}\fs24\cf0\f0\charscalex100 {hing
expensive or complicated, but you do have to do}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {something that sounds enjoyable. One
of }\fs24\cf0\f0\charscalex100 {the cheapest but most effective
activities}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {you can
do is have an annual movie day for employees and their families.
Every}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {summer a set
of popular new movies are rele}\fs24\cf0\f0\charscalex100 {ased. As soon as they
come out, have}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {your
company pay for everyone\uc1\u8217Xs families or }\fs24\cf0\f0\charscalex100
{significant
others to attend during an}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {afternoon matinee - popcorn, drinks,
and }\fs24\cf0\f0\charscalex100 {all. You\uc1\u8217Xll have spouses and
children}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {singing
praises to your name for months afte}\fs24\cf0\f0\charscalex100 {rward. You can
also just get together for}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {potluck and ice cream in the park
(company }\fs24\cf0\f0\charscalex100 {pays for the ice cream). If you
really}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {want to do a
good thing, pay for a nice}\fs24\cf0\f0\charscalex100 { dinner for your employees
and their}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{significant other (no children). }\fs24\cf0\f0\charscalex100 {This is usually a
little more}\fs24\cf0\f0\charscalex100 { expensive, but it is
also}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {more intimate
and most people enjoy a free }\fs24\cf0\f0\charscalex100 {night on the town.
Th}\fs24\cf0\f0\charscalex100 {ere are plenty of}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {ideas that bring your employees\uc1\u8217X
loved ones }\fs24\cf0\f0\charscalex100 {together. Just make sure you plan
ahead}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {and advertise
so people will be able to }\fs24\cf0\f0\charscalex100 {attend. I just have one word
of caution}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{concerning these parties:}{ }\fs24\cf0\f0\charscalex100\i {Make sure you
don\uc1\u8217Xt talk about work.}\i0 \fs24\cf0\f0\charscalex100 { Spouses
generally}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{don\uc1\u8217Xt understand what you do and they
don\uc1\u8217Xt }\fs24\cf0\f0\charscalex100 {care as long as it provides
money,}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {benefits,
and other perks (such as this part}\fs24\cf0\f0\charscalex100 {y, for example). If
you feel the need to say}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {something, compliment your employees in
front}\fs24\cf0\f0\charscalex100 { of their significant}\fs24\cf0\f0\charscalex100
{ others and thank}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{the significant others for supporting your em}\fs24\cf0\f0\charscalex100 {ployees,
especially if they\uc1\u8217Xve been doing}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {overtime or have had to travel a
lo}\fs24\cf0\f0\charscalex100 {t. Then let them enjoy the
activity.}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Bonuses are also a good way to get
fam}\fs24\cf0\f0\charscalex100 {ilies on your side, especially
Christmas}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {bonuses.
I\uc1\u8217Xm a believer that it is better to }\fs24\cf0\f0\charscalex100 {pay your
employees less and then surprise}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {them with unexpected bonuses than it is
to }\fs24\cf0\f0\charscalex100 {pay them more and never be able to
give}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {them that
extra thank you gift. Perception is}\fs24\cf0\f0\charscalex100 { everything. If it
is expected, it\uc1\u8217Xs no big}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {deal. If you surprise them, it means a
lot.}\fs24\cf0\f0\charscalex100 { And everybody can use a little
something}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {extra now
and then, especia}\fs24\cf0\f0\charscalex100 {lly during the holiday
season.}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Write thank you letters, cards, or emails
to}\fs24\cf0\f0\charscalex100 { your employees every so often.
Christmas}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {is always
a good time to do this. If appropria}\fs24\cf0\f0\charscalex100 {te, send them in
the mail so that those}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {who are close to your employee see
them. }\fs24\cf0\f0\charscalex100 {This is especially important
when}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {employees are
putting in extra hours or trav}\fs24\cf0\f0\charscalex100 {eling a lot. Most
spouses will ask what}\par\pard\li1853\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {this letter from work is and most
employ}\fs24\cf0\f0\charscalex100 {ees will want to share the thank you
notes}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {with as many
people as they possibly can.}\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {Benefits, benefits, benefits! As
already me}\fs24\cf0\f0\charscalex100 {ntioned, insurance
is }\fs24\cf0\f0\charscalex100 {very important to}\par\pard\li1853\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {most families that have children or are
planning to have children.}\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {Time off has also already been
discussed. }\fs24\cf0\f0\charscalex100 {If you follow the advice to be flexible
but}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {still get
critical work done you\uc1\u8217Xll find }\fs24\cf0\f0\charscalex100 {that
\uc1\u8220Xsignificant others\uc1\u8221X generally respond}\par\pard\li1853\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {pretty well. Make sure your motives
have}\fs24\cf0\f0\charscalex100 { been communicated and are clear to
{employees\uc1\u8217X families. Make sure they unders}\fs24\cf0\f0\charscalex100
{tand that it\uc1\u8217Xs sometimes a choice between}\par\pard\li1853\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {a slightly interrupted vacation and no
vacation at all.}\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {When loved ones visit the office,
introduce yourself to them. Compliment the}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {employee in front of others. Regardless
of}\fs24\cf0\f0\charscalex100 { how poor an employee may be
performing,}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{there\uc1\u8217Xs nothing wrong with saying something }\fs24\cf0\f0\charscalex100
{like, \uc1\u8220XWe sure appreciate the work your}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {husband/wife, son/daughter, etc. does for
us.\uc1\u8221X}\fs24\cf0\f0\charscalex100 { The end result is three-fold: 1)
the}\par\pard\li1853\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {family member
believes and tells your em}\fs24\cf0\f0\charscalex100 {ployee that their boss seems
like a really}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {nice
person, \uc1\u8220XI wish my boss was that
nice;\uc1\u8221X }\fs24\cf0\f0\charscalex100 {2) it allows the
empl}\fs24\cf0\f0\charscalex100 {oyee to show off in}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {front of someone that matters to
them}\fs24\cf0\f0\charscalex100 {, thus fostering more loyalty and
job}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {satisfaction;
and 3) the employee is often left}\fs24\cf0\f0\charscalex100 { feeling like he or
she has to live up to}\par\pard\li1853\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {that compliment. Don\uc1\u8217Xt be phony or
superfic}\fs24\cf0\f0\charscalex100 {ial and don\uc1\u8217Xt feel like you have to
take a}\par\pard\li1853\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {long time
doing this. Just taking a casual but ge}\fs24\cf0\f0\charscalex100 {nuine interest
in th}\fs24\cf0\f0\charscalex100 {e visit is usually}\par\pard\li1853\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {worth a lot to everyone
involved.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn
\fs32\cf0\f0\charscalex100\b {What Makes A Good Business Great?}\b0
\fs24\cf0\f0\charscalex100\i {\uc1\u8220XI find it rather easy to portray a
busine}\i0 \fs24\cf0\f0\charscalex100\i {ssman. Being bland, rather cruel and
incompetent}\i0 \par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100\i
{comes naturally to me.\uc1\u8221X (John Cleese) }\i0 \par\pard\li1133\ri0\sl-
\fs18\cf0\par\pard\li1133\ri0\sl-400\slmult0 \fs24\cf0\f0\charscalex100 {Does John
Cleese\uc1\u8217Xs view of the typical busines}\fs24\cf0\f0\charscalex100 {sman
hold true in your }\fs24\cf0\f0\charscalex100 {case? And if it
did,}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {would you even
care? It\uc1\u8217Xs time to seriously consider why you want to create a
successful}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {business
to begin with.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {We began
this journey by claiming that no busin}\fs24\cf0\f0\charscalex100 {ess will be a
success for very long if it isn\uc1\u8217Xt}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {profitable and cash flow positive. This is
true}\fs24\cf0\f0\charscalex100 { enough. Businesses need to make money
in}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {order to exist.
If they don\uc1\u8217Xt, they will fail. It is that
simple.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {But is this the end of the
disc}\fs24\cf0\f0\charscalex100 {ussion? Is that the final
conclu}\fs24\cf0\f0\charscalex100 {sion we come to regarding
our}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {businesses? Or
is there some}\fs24\cf0\f0\charscalex100 { further question surrounding
a }\fs24\cf0\f0\charscalex100 {successful business that is}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {broader and more fulfilling? Would it be
too trite }\fs24\cf0\f0\charscalex100 {to suggest that which all of us know to
be}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {true, but
usually have difficulty fully accepting? Th}\fs24\cf0\f0\charscalex100 {at is that
money does not always equate to}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {joy and meaning in life. We say this all
the }\fs24\cf0\f0\charscalex100 {time. We see it in the news, on TV, and
even}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {among many of
the people we know. Few would }\fs24\cf0\f0\charscalex100 {deny that when used
improperly, without}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{restraint, money can be the cause}\fs24\cf0\f0\charscalex100 { of a great deal of
grief and }\fs24\cf0\f0\charscalex100 {sorrow in one\uc1\u8217Xs life. Of
course,}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{you\uc1\u8217Xre smart enough to know better. Right?
You\uc1\u8217Xre }\fs24\cf0\f0\charscalex100 {going to be one of those great,
{entrepreneurs that handles your money well, doe}\fs24\cf0\f0\charscalex100
{sn\uc1\u8217Xt let it go to your head, and finds nothing}\par\pard\li1133\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {but great joy and satisfaction
in }\fs24\cf0\f0\charscalex100 {your hard-earned wealth.
Right? }\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
346\slmult0 \fs24\cf0\f0\charscalex100 {How we use our money is at least as
important }\fs24\cf0\f0\charscalex100 {as whether or not we have money in the
first}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {place. Let me
ask this as simply and as st}\fs24\cf0\f0\charscalex100 {raightforwardly as I
can. \uc1\u8220XHow will you use the}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {money your business generates so as to
bring }\fs24\cf0\f0\charscalex100 {about the greatest amount of joy and
meaning}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {in your
life?\uc1\u8221X After all, aren\uc1\u8217Xt }\fs24\cf0\f0\charscalex100 {these the
ultimate goals of be}\fs24\cf0\f0\charscalex100 {ing in business to begin
with? }\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {At some point along your way to business
succes}\fs24\cf0\f0\charscalex100 {s you\uc1\u8217Xre going to have to make a
decision.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{You\uc1\u8217Xre going to have to decide what to do w}\fs24\cf0\f0\charscalex100
{ith your money. This may seem like a ridiculous}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {issue to you. Let me break it down for you.
You\uc1\u8217X}\fs24\cf0\f0\charscalex100 {ll have to decide whether
you\uc1\u8217Xre building}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {your business in order to make this world a
be}\fs24\cf0\f0\charscalex100 {tter place or doing so
for }\fs24\cf0\f0\charscalex100 {solely selfish reasons.}\par\pard\li1133\ri0\sl-
{This is a tough one. Please allow me to suggest }\fs24\cf0\f0\charscalex100 {that
in the end, it is }\fs24\cf0\f0\charscalex100 {not money you are
really}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {after. It is
the assumed result of money that }\fs24\cf0\f0\charscalex100 {you seek. It is the
joy a}\fs24\cf0\f0\charscalex100 {nd meaning in life that}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {money is supposed to bring you. That is
what yo}\fs24\cf0\f0\charscalex100
{u\uc1\u8217Xre ultimately after. }\fs24\cf0\f0\charscalex100 {If you\uc1\u8217Xve
accomplished}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {this
joy and meaning in life as a result of}\fs24\cf0\f0\charscalex100 { your business,
then you\uc1\u8217Xve succeeded. If you}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {haven\uc1\u8217Xt, then you\uc1\u8217Xve
failed.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {If you\uc1\u8217Xve read this far then I
assume you\uc1\u8217Xve }\fs24\cf0\f0\charscalex100 {found something of value in
this book. I hope so.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {I hope you\uc1\u8217Xll believe me when I say that the
most}\fs24\cf0\f0\charscalex100 { worthwhile part of th}\fs24\cf0\f0\charscalex100
{is book is that
which}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {follows.
Unless you are open to the advice that fo}\fs24\cf0\f0\charscalex100 {llows, the
rest of th}\fs24\cf0\f0\charscalex100 {is book serves
little}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {purpose. I
hope to state it as }\fs24\cf0\f0\charscalex100 {plainly and bluntly as
346\slmult0 \fs24\cf0\f0\charscalex100 {Businesses exist to promote a better life
for peopl}\fs24\cf0\f0\charscalex100 {e. In the end, that is their sole purpose
for}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {existing. The
only real question is whether a busine}\fs24\cf0\f0\charscalex100 {ss exists to
make life }\fs24\cf0\f0\charscalex100 {better for the few,
at}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {the expense of
the many, or whet}\fs24\cf0\f0\charscalex100 {her it exists to make life
be}\fs24\cf0\f0\charscalex100 {tter for the many. As a
business}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {leader,
the answer to this que}\fs24\cf0\f0\charscalex100 {stion will be largely up to
you.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {If I could encourage you to do one thing in
your }\fs24\cf0\f0\charscalex100 {business, it would be
to}\fs24\cf0\f0\charscalex100 { build it in such a}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {way that it promotes a better life for as
many peop}\fs24\cf0\f0\charscalex100 {le as possible \uc1\u8211X to view that as
its highest}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {goal
and to view money as merely one of the }\fs24\cf0\f0\charscalex100 {tools used to
accomplish that goal. The purpose}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {of your business should never be to make
life }\fs24\cf0\f0\charscalex100 {better for the few at the expense of the
many.}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {The purpose
of your business should be to make life better for the many\uc1\u8230Xsometimes at
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {expense of the
few. This philosophy applies e}\fs24\cf0\f0\charscalex100 {qually to customers,
partners, employees, and}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {the community. The highest level of success in
bu}\fs24\cf0\f0\charscalex100 {siness is not just to be profitable and
cash}\par\pard\li1133\ri0\sl-280\slmult0 \fs22\cf0\f0\charscalex100 {flow positive,
although you obviously need these th}\fs22\cf0\f0\charscalex100 {ings in order to
accomplish anything else.}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {The highest level of business success comes
in }\fs24\cf0\f0\charscalex100 {providing solid value to your customers,
win-}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {win
relationships to your part}\fs24\cf0\f0\charscalex100 {ners, a comfortable and
reward}\fs24\cf0\f0\charscalex100 {ing work environment for
your}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {employees, and
a positive contribution to your }\fs24\cf0\f0\charscalex100 {community. I guarantee
th}\fs24\cf0\f0\charscalex100 {at you\uc1\u8217Xll find
more}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {satisfaction
and joy by accomplishing these goa}\fs24\cf0\f0\charscalex100 {ls than by any self-
centered, financial}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{ambition you may be entertaining. I }\fs24\cf0\f0\charscalex100 {GUARANTEE IT! Try
it and see.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {By adhering to the basic values and
the }\fs24\cf0\f0\charscalex100 {principles found in this book, your business
will}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {continue to
grow and will be viewed as an a}\fs24\cf0\f0\charscalex100 {sset to the lives of
all people with whom it is}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {associated, regardless of their
relationship}\fs24\cf0\f0\charscalex100 { with your company. Though you cannot be
all}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {things to all
people, you should continually st}\fs24\cf0\f0\charscalex100 {rive to make every
relationship positive,}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {meaningful, and fulfilling
to }\fs24\cf0\f0\charscalex100 {the best of your ability.}\par\pard\li1133\ri0\sl-
{It is important to remember th}\fs24\cf0\f0\charscalex100 {e three basic elements
spoken of }\fs24\cf0\f0\charscalex100 {in chapter one that control
the}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {success or
failure of any business and/or any career:}\par\pard\li1493\ri0\sl-213\slmult0
{\uc1\u61608X}\tab \fs24\cf0\f0\charscalex100 {What you
know;}\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-
\fs24\cf0\f0\charscalex100 {Who you know; and}\par\pard\li1493\ri0\sl-
{Pure, dumb luck.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-333\slmult0 \fs24\cf0\f0\charscalex100 {Always
understand that you probably need all thr}\fs24\cf0\f0\charscalex100 {ee to
succeed. Your sk}\fs24\cf0\f0\charscalex100 {ills and talents
will}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {only take you
so far. Who you know and your rela}\fs24\cf0\f0\charscalex100 {tionship with those
people is vital to your}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {success. Never think or act
as }\fs24\cf0\f0\charscalex100 {if you are better than others
be}\fs24\cf0\f0\charscalex100 {cause of your title or
salary,}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {especially
those who work for you. And never }\fs24\cf0\f0\charscalex100 {make an enemy out of
anyone, especially}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100
{those with whom you work. In this day of job swapping, lay offs, and acquisitions,
chances}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {are pretty
good that you\uc1\u8217Xll meet them again in }\fs24\cf0\f0\charscalex100 {a
different business situation later in life. At}\par\pard\li1133\ri0\sl-
280\slmult0 \fs24\cf0\f0\charscalex100 {that time you may want them as a customer
or n}\fs24\cf0\f0\charscalex100 {eed them as a partner or even want them
to}\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {hire you. Laugh
all you want\uc1\u8230Xright up until it
happens.}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn1
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs20\cf0\f0\charscalex100\i {What
Makes a Good Business Great }\i0 \par\column\pard\li0\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f0\charscalex100 {It is in
your best interests to }\fs24\cf0\f0\charscalex100 {view business
relationshi}\fs24\cf0\f0\charscalex100
{ps in this manner. Not only will it help}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {you to create a successful business and a pool
of}\fs24\cf0\f0\charscalex100 { people who are loyal to you in this
company}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {as well as
later in life, but you\uc1\u8217Xll also find it }\fs24\cf0\f0\charscalex100 {to be
the most rewarding part of building a}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {successful business. For what it\uc1\u8217Xs worth, it
is}\fs24\cf0\f0\charscalex100 { also the right thing }\fs24\cf0\f0\charscalex100
{to do. Every person that}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {leads or manages other people in any capacity
ha}\fs24\cf0\f0\charscalex100 {s an inherent responsibility to do the
right}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {thing. How
you deal with people will always come}\fs24\cf0\f0\charscalex100 { back to either
help you or hurt you later}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {in life. That\uc1\u8217Xs just the way life
works. }\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-
333\slmult0 \fs24\cf0\f0\charscalex100 {Build your business in such a way that it
promotes}\fs24\cf0\f0\charscalex100 { a better way of life for as many people
as}\par\pard\li1133\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {possible. Make
it a great place to}\fs24\cf0\f0\charscalex100 { work and a great company with
which to be associated in}\par\pard\li1133\ri0\sl-280\slmult0
\fs24\cf0\f0\charscalex100 {any capacity. In the end, you\uc1\u8217Xll find this to
be }\fs24\cf0\f0\charscalex100 {the greatest determini}\fs24\cf0\f0\charscalex100
{ng factor in judging}\par\pard\li1133\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {whether you\uc1\u8217Xve created an adequate business
or a truly great one.}\par\pard\li1133\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li1133\ri0\sl-346\slmult0 \fs24\cf0\f0\charscalex100 {Now go out
and build a great business! Good
luck!}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\
of Business}\i0}

The Basics of Business - 4th Printing

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