SPENCE: THE WISDOM IN UNREAD EMAILS.
My 2015 emails held these nuggets COMMENT
Every year around this time, I go hunting for wasted wisdom in the unopened newsletters from the past 12 months. I seek and destroy the filler and timewasters, but I share the best tips and insights with you.
HOW TO HIRE TO BREAK ALL YOUR SALES RECORDS
In a post on American Express’s small business site, OPEN Forum, Chris Ostoich, a Cincinnati tech entrepreneur, suggested that a growth company has to hire completely different people than a steady, established business. He urges hiring for five qualities: Hacker behaviour Look for motivated people who are always trying to do more with less. GRIT A term coined by author Paul G. Stoltz, GRIT is demonstrated by people who go after important goals and never give up. Self- awareness Self-aware people know their own strengths and weaknesses, and understand how to make their best contribution. Aversion to interruptions We need to concentrate to do our best work. Look for people who get annoyed when interrupted, yet also know how to schedule opportunities for conversations and coaching. Drive to work better Employees who strive to improve provide the drive growth companies need.
“When you hire people with these five traits,” Ostoich says, “you’ll see that every week your teams are turning up the dial on sales, operations, marketing and customer success.”
SHORT COURSE ON VIDEO MARKETING
Last June, a newsletter from Toronto accountants Bennett Gold offered a short course on online video marketing. First it identified the most important video metrics: Completed views ( how much of a video was watched); con - versions (the percentage of viewers motivated to take action); and brand lift ( increased customer perception of your brand). Then offered specific pointers to launch your video career: Start realistically Decide if you want your video campaign to raise awareness or sell a product. Create multiple versions Shoot three or more introductions and endings to your core video. This lets you test multiple versions and customize for different audiences. Expand formats Adapt your videos so they can be viewed on smartphones and tablets as well as desktops. Keep it short If your message is longer than 60 seconds, consider splitting it into segments. Apply interactivity Interactive features engage viewers and draw in customers. These may include calls to action, links displayed as subtitles, or letting viewers click on objects shown in the video.
Along the same lines, the Inc. Wire November newsletter offered 16 reasons to adopt more visual marketing tools ( think videos, photos, illustrations and infographics). Among its points: 81 per cent of people just skim content they read online; the average visitor gets distracted in eight seconds; and posts that include images produce 650 per cent higher engagement than text-only posts.
BOOST YOUR RETURN ON IDEAS
In October, the U. S. newsletter Smart Brief on Leadership linked to a Fortune magazine article on the frictionless economy: “a new world in which labour, information, and money move easily, cheaply, and almost instantly.” Examples included Tesla’s ability to solve a serious flaw in its Model S sedan through a software patch rather than a physical recall; Apple maintaining its brand as a manufacturer even though almost all its products are made by other firms; and upstart companies such as Uber, Airbnb and Alibaba that own few assets and no inventory.
McKinsey finds that while “asset- light, idea- intensive sectors” generated 17 per cent of Western companies’ profits in 1999, today they generate 31 per cent. How will you increase your “return on ideas” in 2016?
HATE TO NEGOTIATE? READ ON
Negotiation is an essential tool for entrepreneurs, but it’s woefully underused. In March, U. S. sales consultant Mark Hunter outlined “6 Negotiating Tips for the Person Who Doesn’t Like to Negotiate” in his weekly Sales Hunter newsletter.
Use silence with confidence. (“Yes, it can seem awkward, but it’s amazing how it will improve your position.”)
Take control by creating deadlines.
Know in advance what you will offer the customer and what you won’t.
Don’t let the other person rattle your self-esteem.
Be ready to walk away, and don’t hesitate to do it.
Never allow yourself to think the deal you’re negotiating is the only one you’ll ever get. When one deal falls apart, Hunter concludes, “I’m amazed at how new opportunities always seem to emerge.”
WHAT DO YOU NEED TO LET GO OF?
In his December newsletter, Toronto management and marketing consultant Donald Cooper asked the provocative question, “What or who do you need to ‘ let go of ’ in 2016?”
He says the New Year is the best time to throw out corporate baggage, including products or services that are out- of- date or losing money; customers that take too much of your time or disrupt your business; suppliers who let you down; locations that no longer make sense; employees who are toxic or unproductive; and all negative attitudes that may be closing your mind, hardening your heart and hurting your business.
Rick Spence is a writer, consultant and speaker specializing in entrepreneurship. rick@rickspence.ca Twitter.com/RickSpence