Competitive Sales Quotes

Chasing a man is not winning. The only thing you win is the loss of your dignity. Confidence is knowing your value, instead of expecting a man’s love to provide you with value.

Spelling Bees are useless and unnecessary competitions. Before Microsoft Word and Google, Spelling Bees had value, but now they are all superflewus.

Truly, nothing is better than to crush your competition, to drive down their profit margins, to hear the lamentations of their sales representatives.

Get up in the morning on a mission to save prospective clients from the shabby, ill-fitting, overpriced and worthless alternatives that those charlatans - who are your competition - are trying to get away with flogging them.

there are only three ways to increase your business: 1. Increase the number of clients. 2. Increase the average size of the sale per client. 3. Increase the number of times clients return and buy again. Only

Although most introverts seek time alone as an alternative to people and competition, solitude is a power source for the introvert. And for someone wanting to exert control, solitude is indeed threatening. Many sales schemes rely on “today only” impulse purchases because “sleeping on it” will help you realize that you don’t need the product. Cults gain their power by depriving members of any time alone. Clients in my office comment on what a difference it makes to have time to think, and value psychotherapy for its attention to inner processes.

If low price is the only basis of competition with rival products, similarly produced, there ensues a cut-throat competition which can end only by taking all the profit and incentive out of the industry. The logical way out of this dilemma is for the manufacturer to develop some sales appeal other than mere cheapness, to give the product, in the public mind, some other attraction, some idea that will modify the product slightly, some element of originality that will distinguish it from products in the same line. Thus,

Brainstorm your big idea(s). (2 hrs) Identify your product, customer, competition, and sales/marketing strategy. (2 hrs) Identify your plan for operations, management, capitalization, and finances. (4 hrs) Create a life plan. (4 hrs) Validate your business idea. (8 hrs) Type up your finished business plan. (4 hrs) Execute and follow through on your plan.

Your company is its own competition and can deliver itself debilitating blows the competition only dreams of.

Give me 10 pins and a hardwood lane, and I’ll bowl. Just as long as that bowl is full of spaghetti. I’ll always be a champion, when I’m the only one in the competition.

Salespeople on commission, for example, are seldom sensitive to the costs of the sales they produce.

As is our confidence, so is our capacity.” —WILLIAM HAZLITT

Problems are opportunities, and conquered opportunities equal money earned.

Besides shopping at garage sales, I love hosting garage sales. Every year my mom and I dig through our houses and find a bunch of crap (I mean really terrific stuff) to sell so we can earn some money so we can go back out and buy some more crap (I mean really terrific stuff) that we’ll use for a bit and then turn around and garage-sale in a couple of years. It’s the circle of life suburban style.

Since the values of the market were the highest criteria, persons also became valued as commodities which could be bought and sold. A person's worth is then his salable market value, whether it is skill or 'personality' that is up for sale. [...] The market value, then, becomes the individual's valuation of himself, so that self-confidence and 'self-feeling' (ones experience of identity with one's self) are largely reflections of what others think of one, in this case the 'others' being those who represent the market. Thus contemporary economic processes have contributed not only to an alienation of man from man, but likewise to 'self-alienation' - an alienation of the individual from himself. As Fromm very well summarizes the point: Since modern man experiences himself both as the seller and as the commodity to be sold on the market, his self-esteem depends on conditions beyond his control. If he is 'successful,' he is valuable; if he is not, he is worthless. The degree of insecurity which results from this orientation can hardly be overestimated. If one feels that one's own value is not constituted primarily by the human qualities one possesses, but by one's succes on a competitive market with ever-changing conditions, one's self-esteem is bound to be shaky and in constant need of confirmation by others. [Erich Fromm, Man for himself] In such a situation one is driven to strive relentlessly for 'succes'; this is the chief way to validate ones self and to allay anxiety. And any failure in the competitive struggle is a threat to the quasi-esteem for one's self - which, quasi though it be, is all one has in such a situation. This obviously leads to powerful feelings of helplessness and inferiority. [p.169f]

War metaphors invade our everyday business language: we use headhunters to build up a sales force that will enable us to take a captive market and make a killing. But really it’s competition, not business, that is like war: allegedly necessary, supposedly valiant, but ultimately destructive.

They suspected that children learned best through undirected free play—and that a child’s psyche was sensitive and fragile. During the 1980s and 1990s, American parents and teachers had been bombarded by claims that children’s self-esteem needed to be protected from competition (and reality) in order for them to succeed. Despite a lack of evidence, the self-esteem movement took hold in the United States in a way that it did not in most of the world. So, it was understandable that PTA parents focused their energies on the nonacademic side of their children’s school. They dutifully sold cupcakes at the bake sales and helped coach the soccer teams. They doled out praise and trophies at a rate unmatched in other countries. They were their kids’ boosters, their number-one fans. These were the parents that Kim’s principal in Oklahoma praised as highly involved. And PTA parents certainly contributed to the school’s culture, budget, and sense of community. However, there was not much evidence that PTA parents helped their children become critical thinkers. In most of the countries where parents took the PISA survey, parents who participated in a PTA had teenagers who performed worse in reading. Korean parenting, by contrast, were coaches. Coach parents cared deeply about their children, too. Yet they spent less time attending school events and more time training their children at home: reading to them, quizzing them on their multiplication tables while they were cooking dinner, and pushing them to try harder. They saw education as one of their jobs.

Their customers’ business environments are more competitive than ever, technological advances are radically altering their industries and markets, and their margin for error is always shrinking. The increased complexity of their environment translates directly to increased complexity in the problems they need to solve.

It wasn’t until 1959 that the Red Sox finally joined the rest of the major leagues and brought up a black player from the minors to play in Boston. This tardiness on race and its lingering effects put the team at a competitive disadvantage for years and was far more responsible for the extended World Series drought in Boston than the 1919 sale of Babe Ruth to the Yankees—the so-called Curse of the Bambino. As

Porter noted that powerful and sustainable competitive advantage is unlikely to arise from any one capability (e.g., having the best sales force in the industry or the best technology in the industry), but rather from a set of capabilities that both fit with one another (i.e., that don’t conflict with one another) and actually reinforce one another (i.e., that make each other stronger than they would be alone).

The “German problem” after 1970 became how to keep up with the Germans in terms of efficiency and productivity. One way, as above, was to serially devalue, but that was beginning to hurt. The other way was to tie your currency to the deutsche mark and thereby make your price and inflation rate the same as the Germans, which it turned out would also hurt, but in a different way. The problem with keeping up with the Germans is that German industrial exports have the lowest price elasticities in the world. In plain English, Germany makes really great stuff that everyone wants and will pay more for in comparison to all the alternatives. So when you tie your currency to the deutsche mark, you are making a one-way bet that your industry can be as competitive as the Germans in terms of quality and price. That would be difficult enough if the deutsche mark hadn’t been undervalued for most of the postwar period and both German labor costs and inflation rates were lower than average, but unfortunately for everyone else, they were. That gave the German economy the advantage in producing less-than-great stuff too, thereby undercutting competitors in products lower down, as well as higher up the value-added chain. Add to this contemporary German wages, which have seen real declines over the 2000s, and you have an economy that is extremely hard to keep up with. On the other side of this one-way bet were the financial markets. They looked at less dynamic economies, such as the United Kingdom and Italy, that were tying themselves to the deutsche mark and saw a way to make money. The only way to maintain a currency peg is to either defend it with foreign exchange reserves or deflate your wages and prices to accommodate it. To defend a peg you need lots of foreign currency so that when your currency loses value (as it will if you are trying to keep up with the Germans), you can sell your foreign currency reserves and buy back your own currency to maintain the desired rate. But if the markets can figure out how much foreign currency you have in reserve, they can bet against you, force a devaluation of your currency, and pocket the difference between the peg and the new market value in a short sale. George Soros (and a lot of other hedge funds) famously did this to the European Exchange Rate Mechanism in 1992, blowing the United Kingdom and Italy out of the system. Soros could do this because he knew that there was no way the United Kingdom or Italy could be as competitive as Germany without serious price deflation to increase cost competitiveness, and that there would be only so much deflation and unemployment these countries could take before they either ran out of foreign exchange reserves or lost the next election. Indeed, the European Exchange Rate Mechanism was sometimes referred to as the European “Eternal Recession Mechanism,” such was its deflationary impact. In short, attempts to maintain an anti-inflationary currency peg fail because they are not credible on the following point: you cannot run a gold standard (where the only way to adjust is through internal deflation) in a democracy.

Q:What is the proletariat? A:The proletariat is that class in society which lives entirely from the sale of its labor and does not draw profit from any kind of capital; whose weal and woe, whose life and death, whose sole existence depends on the demand for labor – hence, on the changing state of business, on the vagaries of unbridled competition. The proletariat, or the class of proletarians, is, in a word, the working class of the 19th century

Your competition's sales slide presentation is equally pathetic. Here is the secret solution: Convert the time you're currently wasting watching television re-runs in the evening and develop your own PowerPoint presentation that is 100% in terms of the customer's needs and desires, one that engages the prospective customer by asking questions and promoting dialogue, one that uses a little humor to keep the sales presentation alive, and one that supports every fact and claim with testimonials.

In marketing terms, a commodity is an undifferentiated product that is just like its competitors. It isn’t usually very innovative, and offers a similar set of features and price point compared to competitive products. In other words, its defining characteristic is its “sameness” compared to other similar products. When a product becomes a commodity, the price that it commands in the marketplace tends to erode. People aren’t willing to pay extra for your product. They consider it and those of your competitors to be interchangeable, so no one company has an edge in sales.

Is the competition really some mythical beast? No, not really. Knowing how to play your group of salespeople as a team, to overcome the group objective of winning the customers support, is the objective. The opposing team in proper viewpoint is not just the similar competing business to yours. Nor is it the competing franchises of your home office. No, in order to really be effective in the market place as a surviving business, you must go beyond that philosophy. You must be willing to expand your viewpoint to fully understand who the competition truly is. Your true competition is simply this: Anywhere that your customer would spend his or her dollars as opposed to spending them at your company or place of business.

If you want waiters in tuxedos with white linen cloths over their arms, menus with unpronounceable words all over them, and high-priced wines served in silver ice buckets when you go out for Italian food, our little restaurant is not the place to come. But if you mostly want good, solid, home-cooked pasta with tasty sauces made with real vegetables and spices by a real Italian Mama and will trade white linen for red-and-white checked plastic tablecloths, you'll like our place just fine. If you're okay with a choice of just two wines, red or white, we'll give you as much of it as you want, from our famous bottomless wine bottle — free with your dinner. This restaurant owner took competitive disadvantages and turned them into a good, solid, “fun” selling story.

mark-down, which discounts the selling price to customers and, so long as demand is ‘elastic’, results in increased sales of the product line. However, this is an expensive method of selling products, as it reduces the profit achieved on the products. In fact mark-down is the single largest cost to a fashion retail business after the cost of the products themselves. It is worth remembering at this point that the main – and frequently only – source of income for a fashion retailer is the profit from the sales of its products. Less profit per garment means less income to pay its bills. Furthermore, this tactic is less effective when general trading conditions are poor, as the competition is usually doing the same thing. It is vital then that the fashion retailer knows what its customers want and are expecting. Problems in defining and then keeping up with changing customer needs and expectations are arguably the most important factor in successful selling. Large retail businesses like Marks & Spencer

His baseline attitude toward humans was that they could all just go fuck themselves and that he was not going to expend any effort whatsoever getting them to change the way they thought. This was probably rooted in the belief that had been inculcated to him from the get-go: that there was an objective reality, which all people worth talking to could observe and understand, and there was no point in arguing about anything that would be so observed and so understood. As long as you made a point of hanging out exclusively with people who had the wit to see and understand that objective reality, you didn't have to waste a lot of time talking. When a thunderstorm was headed your way across the prairie, you took the washing down from the line and closed the windows. It wasn't necessary to have a meeting about it. The sales force didn't need to get involved... ...It was time, in other words, to call out the sales force, take Jones to lunch, begin gardening personal contacts, shape his perception of the competitive landscape. Forge a partnership. Exactly the kind of work from which Richard had always found some way to excuse himself, even when large amounts of money were at stake. Yet now his life was at stake, and no one was around to help him, and he still wasn't doing it. He simply couldn't get past his conviction that Jones could go fuck himself and that he wasn't going to angle and scheme and maneuver for Jones' sake.

Cultivating loyalty is a tricky business. It requires maintaining a rigorous level of consistency while constantly adding newness and a little surprise—freshening the guest experience without changing its core identity.” Lifetime Network Value Concerns about brand fickleness in the new generation of customers can be troubling partly because the idea of lifetime customer value has been such a cornerstone of business for so long. But while you’re fretting over the occasional straying of a customer due to how easy it is to switch brands today, don’t overlook a more important positive change in today’s landscape: the extent to which social media and Internet reviews have amplified the reach of customers’ word-of-mouth. Never before have customers enjoyed such powerful platforms to share and broadcast their opinions of products and services. This is true today of every generation—even some Silent Generation customers share on Facebook and post reviews on TripAdvisor and Amazon. But millennials, thanks to their lifetime of technology use and their growing buying power, perhaps make the best, most active spokespeople a company can have. Boston Consulting Group, with grand understatement, says that “the vast majority” of millennials report socially sharing and promoting their brand preferences. Millennials are talking about your business when they’re considering making a purchase, awaiting assistance, trying something on, paying for it and when they get home. If, for example, you own a restaurant, the value of a single guest today goes further than the amount of the check. The added value comes from a process that Chef O’Connell calls competitive dining, the phenomenon of guests “comparing and rating dishes, photographing everything they eat, and tweeting and emailing the details of all their dining adventures.” It’s easy to underestimate the commercial power that today’s younger customers have, particularly when the network value of these buyers doesn’t immediately translate into sales. Be careful not to sell their potential short and let that assumption drive you headlong into a self-fulfilling prophecy. Remember that younger customers are experimenting right now as they begin to form preferences they may keep for a lifetime. And whether their proverbial Winstons will taste good to them in the future depends on what they taste like presently.

supposed weakness on national security. Ours was a brief exchange, filled with unspoken irony—the elderly Southerner on his way out, the young black Northerner on his way in, the contrast that the press had noted in our respective convention speeches. Senator Miller was very gracious and wished me luck with my new job. Later, I would happen upon an excerpt from his book, A Deficit of Decency, in which he called my speech at the convention one of the best he’d ever heard, before noting—with what I imagined to be a sly smile—that it may not have been the most effective speech in terms of helping to win an election. In other words: My guy had lost. Zell Miller’s guy had won. That was the hard, cold political reality. Everything else was just sentiment. MY WIFE WILL tell you that by nature I’m not somebody who gets real worked up about things. When I see Ann Coulter or Sean Hannity baying across the television screen, I find it hard to take them seriously; I assume that they must be saying what they do primarily to boost book sales or ratings, although I do wonder who would spend their precious evenings with such sourpusses. When Democrats rush up to me at events and insist that we live in the worst of political times, that a creeping fascism is closing its grip around our throats, I may mention the internment of Japanese Americans under FDR, the Alien and Sedition Acts under John Adams, or a hundred years of lynching under several dozen administrations as having been possibly worse, and suggest we all take a deep breath. When people at dinner parties ask me how I can possibly operate in the current political environment, with all the negative campaigning and personal attacks, I may mention Nelson Mandela, Aleksandr Solzhenitsyn, or some guy in a Chinese or Egyptian prison somewhere. In truth, being called names is not such a bad deal. Still, I am not immune to distress. And like most Americans, I find it hard to shake the feeling these days that our democracy has gone seriously awry. It’s not simply that a gap exists between our professed ideals as a nation and the reality we witness every day. In one form or another, that gap has existed since America’s birth. Wars have been fought, laws passed, systems reformed, unions organized, and protests staged to bring promise and practice into closer alignment. No, what’s troubling is the gap between the magnitude of our challenges and the smallness of our politics—the ease with which we are distracted by the petty and trivial, our chronic avoidance of tough decisions, our seeming inability to build a working consensus to tackle any big problem. We know that global competition—not to mention any genuine commitment to the values

One of my seminars is “Leadership in the 20th century: How being a century behind still puts you ahead of all your competition still living in the 19th century.

War metaphors invade our everyday business language: we use headhunters to build up a sales force that will enable us to take a captive market and make a killing. But really it’s competition, not business, that is like war:

YOU NEED TO SELL THE SAME WAY THAT YOU BUY.

a 2003 study, which demonstrated that consumers’ preference for an online retailer increases when they are offered competitive price information.[xxxvi] The technique has also been used by Progressive, the car insurance company, to drive over $15 billion of annual insurance sales, up from just $3.4 billion before the tactic was implemented.

EARNINGS McDonald's Plans Marketing Push as Profit Slides By Julie Jargon | 436 words Associated Press The burger giant has been struggling to maintain relevance among younger consumers and fill orders quickly in kitchens that have grown overwhelmed with menu items. McDonald's Corp. plans a marketing push to emphasize its fresh-cooked breakfasts as it battles growing competition for the morning meal. Competition at breakfast has heated up recently as Yum Brands Inc.'s Taco Bell entered the business with its new Waffle Taco last month and other rivals have added or discounted breakfast items. McDonald's Chief Executive Don Thompson said it hasn't yet noticed an impact from Taco Bell's breakfast debut, but that the overall increased competition "forces us to focus even more on being aggressive in breakfast." Mr. Thompson's comments came after McDonald's on Tuesday reported that its profit for the first three months of 2014 dropped 5.2% from a year earlier, weaker than analysts' expectations. Comparable sales at U.S. restaurants open more than a year declined 1.7% for the quarter and 0.6% for March, the fifth straight month of declines in the company's biggest market. Global same-store sales rose 0.5% for both the quarter and month. Mr. Thompson acknowledged again that the company has lost relevance with some customers and needs to strengthen its menu offerings. He emphasized Tuesday that McDonald's is focused on stabilizing key markets, including the U.S., Germany, Australia and Japan. The CEO said McDonald's has dominated the fast-food breakfast business for 35 years, and "we don't plan on giving that up." The company plans in upcoming ads to inform customers that it cooks its breakfast, unlike some rivals. "We crack fresh eggs, grill sausage and bacon," Mr. Thompson said. "This is not a microwave deal." Beyond breakfast, McDonald's also plans to boost marketing of core menu items such as Big Macs and french fries, since those core products make up 40% of total sales. To serve customers more quickly, the chain is working to optimize staffing, and is adding new prep tables that let workers more efficiently add new toppings when guests want to customize orders. McDonald's also said it aims to sell more company-owned restaurants outside the U.S. to franchisees. Currently, 81% of its restaurants around the world are franchised. Collecting royalties from franchisees provides a stable source of income for a restaurant company and removes the cost of operating them. McDonald's reported a first-quarter profit of $1.2 billion, or $1.21 a share, down from $1.27 billion, or $1.26 a share, a year earlier. The company partly attributed the decline to the effect of income-tax benefits in the prior year. Total revenue for the quarter edged up 1.4% to $6.7 billion, though costs rose faster, at 2.3%. Analysts polled by Thomson Reuters forecast earnings of $1.24 a share on revenue of $6.72 billion.

DAY 12: BUILD A SIMPLE SPEAKER ONE-SHEET Now that your flagship presentation has some texture and shape, you can summarize it on a speaker one-sheet. Local networking groups, chambers of commerce, and association chapters often want to see this before booking you to speak in front of your hand-selected target market of prospects. Lay out a simple one-sheet in Microsoft Word, or pay a little extra for a designer to format it more professionally. The building blocks are: 1.  One or more Topics/Programs 2.  Target Audience(s) 3.  Benefits (especially in headlines and program titles) 4.  Your Mini-Biography 5.  Your Sample Client List 6.  Testimonial clips about the quality of your programs 7.  Your Contact Information

Salespeople fail to attract new customers because beyond being self-focused, they’re long-winded and their message is often confusing. Many salespeople don’t invest the energy to sharpen their story, but instead serve up a pitch that neither differentiates from the competition nor compels the buyer to act.

Dear KDP Author, Just ahead of World War II, there was a radical invention that shook the foundations of book publishing. It was the paperback book. This was a time when movie tickets cost 10 or 20 cents, and books cost $2.50. The new paperback cost 25 cents – it was ten times cheaper. Readers loved the paperback and millions of copies were sold in just the first year. With it being so inexpensive and with so many more people able to afford to buy and read books, you would think the literary establishment of the day would have celebrated the invention of the paperback, yes? Nope. Instead, they dug in and circled the wagons. They believed low cost paperbacks would destroy literary culture and harm the industry (not to mention their own bank accounts). Many bookstores refused to stock them, and the early paperback publishers had to use unconventional methods of distribution – places like newsstands and drugstores. The famous author George Orwell came out publicly and said about the new paperback format, if “publishers had any sense, they would combine against them and suppress them.” Yes, George Orwell was suggesting collusion. Well… history doesn’t repeat itself, but it does rhyme. Fast forward to today, and it’s the e-book’s turn to be opposed by the literary establishment. Amazon and Hachette – a big US publisher and part of a $10 billion media conglomerate – are in the middle of a business dispute about e-books. We want lower e-book prices. Hachette does not. Many e-books are being released at $14.99 and even $19.99. That is unjustifiably high for an e-book. With an e-book, there’s no printing, no over-printing, no need to forecast, no returns, no lost sales due to out of stock, no warehousing costs, no transportation costs, and there is no secondary market – e-books cannot be resold as used books. E-books can and should be less expensive. Perhaps channeling Orwell’s decades old suggestion, Hachette has already been caught illegally colluding with its competitors to raise e-book prices. So far those parties have paid $166 million in penalties and restitution. Colluding with its competitors to raise prices wasn’t only illegal, it was also highly disrespectful to Hachette’s readers. The fact is many established incumbents in the industry have taken the position that lower e-book prices will “devalue books” and hurt “Arts and Letters.” They’re wrong. Just as paperbacks did not destroy book culture despite being ten times cheaper, neither will e-books. On the contrary, paperbacks ended up rejuvenating the book industry and making it stronger. The same will happen with e-books. Many inside the echo-chamber of the industry often draw the box too small. They think books only compete against books. But in reality, books compete against mobile games, television, movies, Facebook, blogs, free news sites and more. If we want a healthy reading culture, we have to work hard to be sure books actually are competitive against these other media types, and a big part of that is working hard to make books less expensive. Moreover, e-books are highly price elastic. This means that when the price goes down, customers buy much more. We've quantified the price elasticity of e-books from repeated measurements across many titles. For every copy an e-book would sell at $14.99, it would sell 1.74 copies if priced at $9.99. So, for example, if customers would buy 100,000 copies of a particular e-book at $14.99, then customers would buy 174,000 copies of that same e-book at $9.99. Total revenue at $14.99 would be $1,499,000. Total revenue at $9.99 is $1,738,000. The important thing to note here is that the lower price is good for all parties involved: the customer is paying 33% less and the author is getting a royalty check 16% larger and being read by an audience that’s 74% larger. The pie is simply bigger.

The only perceptions that matter are those of your customers. Yet companies often design their marketing, advertising, and sales messages from a purely managerial perspective.

The essence of business consulting Business consulting is becoming a well-liked hit everywhere in the world. Consultation providers are important to business folks since they help them in making informative choices. That is solely potential after serving to them understand the workforce within the enterprise world. Managers who analyze the functionality of their businesses are bound to make higher earnings than those that don’t consult an expert for surveillance. They should perceive the risks concerned, weaknesses and strengths in order for their businesses to survive competition. It is with enterprise consulting that companies are capable of analyze as well as improve upon their strategic operations. This turns into attainable because of the experience across assorted fields translating into a spectrum of new ideas. Any effective enterprise consulting will allow you to faucet into their varied sources, capabilities as well as services. Your online business will take pleasure in proven approaches, ideas and even methods. Because of this you would not have to reinvent the wheel again. You make use of confirmed strategies and construct upon them. In spite of everything, this can ultimately translate into increased productiveness in addition to more sales for your online business. As a Richmond Business Help way to grow to be more productive in addition to worthwhile, the companies of a enterprise consulting cannot be ignored. Simply just remember to are on the same page as them. It's highly vital for a business to be on the identical wavelength as their enterprise consulting team. The enterprise states its wishes whereas the enterprise consultants rework it into an achievable aim. The business states its desires and the enterprise consultants define whether or not it's practical and the simplest method to turn dreams into reality. Involving a professional guide will information you in making crucial choices. They usually present you with different scenarios that are more likely to happen in the market in the present day. Additionally they explain how your decisions are prone to impression on what you are promoting in the future. In addition they present strategies on find out how to diversify the product line rather than relying on a single product. They are going to guide you to ensure that there's utmost progress and competition is at per. Enterprise consultants enhance the information stage of a business. Their data is effective. They've been involved in varied tasks earlier than and understand all of the facets involved in the planning process. Additionally they have a clear understanding of the dangers concerned in each enterprise growth step. You possibly can due to this fact depend upon them for the event of your enterprise.

Raising capital. Organisations like Rio Tinto, TomTom and GKN have all raised significant sums through the equity markets. Refinancing debt. Some companies, like Yell and Schaeffler, have rolled over billions in bank finance. However, many businesses are still finding banks reluctant to lend and have turned to bond issuance as an alternative. Divestment. Companies can sell off valuable assets, such as Barclays did with Barclays Global Investors, and it is always better to do so before a crisis; otherwise it will be seen for the fire sale it is and the price will be a fire-sale price. Furthermore, any sell-off that weakens a firm’s core capability or its long-term competitive position may also shorten its life. Cut costs but not capability The managing uncertainty survey revealed that the most common action that companies took when the financial crisis struck was to cut costs. Some 82% of respondents cut costs. When asked about their future responses to uncertainty, 76% indicated they would continue to focus on cost reduction.

People say I can handle pressure, but there is one sporting competition where if I were in the finals, I’d surely choke, and that’s the hotdog eating competition.

and

They can sell at that price—and go broke and you can, too! If you base your price on your competitor’s price—and they are going broke—you will, too. Typically, someone among your competition is going broke and usually is cutting prices on the way out. Owen Young, who is credited with having built General Electric, once said, “It’s not the crook we fear in modern business; rather it’s the honest guy who doesn’t know what he is doing.

1. It is better to risk boldness than triviality. 2. A bad plan is better than no plan. 3. Competitive markets destroy profits. 4. Sales matters just as much as product.

s s i o n o f R a t i o n a l S o f t w a r e C o r p o r a t i o n i s t o e n s u r e t h e s u c c e s s o f c u s t o m e r s c o n s t r u c t i n g t h e s o f t w a r e s y s t e m s t h a t t h e y d e p e n d o n . We enable our customers to achieve their business objectives by turning software into a source of competitive advantage, speeding time-to-market, reducing the risk of failure, and improving software quality. We fulfill our mission with the Rational ApproachTM, a comprehensive softwareengineering solution consisting of three elements: • A configurable set of processes and techniques for the development of software, based on iterative development, object modeling, and an architectural approach to software reuse. • An integrated family of application construction tools that automate the Rational Approach throughout the software lifecycle. • Technical consulting services delivered by our worldwide field organization of software engineers and technical sales professionals. Our customers include businesses in the Asia/Pacific region, Europe, and North America that are leaders in leveraging semiconductor, communications, and software technologies to achieve their business objectives. We serve customers in a diverse range of industries, such as telecommunications

o n o f R a t i o n a l S o f t w a r e C o r p o r a t i o n i s t o e n s u r e t h e s u c c e s s o f c u s t o m e r s c o n s t r u c t i n g t h e s o f t w a r e s y s t e m s t h a t t h e y d e p e n d o n . We enable our customers to achieve their business objectives by turning software into a source of competitive advantage, speeding time-to-market, reducing the risk of failure, and improving software quality. We fulfill our mission with the Rational ApproachTM, a comprehensive softwareengineering solution consisting of three elements: • A configurable set of processes and techniques for the development of software, based on iterative development, object modeling, and an architectural approach to software reuse. • An integrated family of application construction tools that automate the Rational Approach throughout the software lifecycle. • Technical consulting services delivered by our worldwide field organization of software engineers and technical sales professionals. Our customers include businesses in the Asia/Pacific region, Europe, and North America that are leaders in leveraging semiconductor, communications, and software technologies to achieve their business objectives. We serve customers in a diverse range of industries, such as telecommunications, banking and financial services, manufacturing, transportation, aerospace, and defense.They construct software applications for a wide range of platforms, from microprocessors embedded in telephone switching systems to enterprisewide information systems running on company-specific intranets. Rational Software Corporation is traded on the NASDAQ system under the symbol RATL.1

The entrepreneurs who stuck with Silicon Valley learned four big lessons from the dot-com crash that still guide business thinking today: 1. Make incremental advances Grand visions inflated the bubble, so they should not be indulged. Anyone who claims to be able to do something great is suspect, and anyone who wants to change the world should be more humble. Small, incremental steps are the only safe path forward. 2. Stay lean and flexible All companies must be “lean,” which is code for “unplanned.” You should not know what your business will do; planning is arrogant and inflexible. Instead you should try things out, “iterate,” and treat entrepreneurship as agnostic experimentation. 3. Improve on the competition Don’t try to create a new market prematurely. The only way to know you have a real business is to start with an already existing customer, so you should build your company by improving on recognizable products already offered by successful competitors. 4. Focus on product, not sales If your product requires advertising or salespeople to sell it, it’s not good enough: technology is primarily about product development, not distribution. Bubble-era advertising was obviously wasteful, so the only sustainable growth is viral growth.

Transport costs increased as the city grew, making the sale of mud less and less profitable; competition in the form of guano and chemical fertilisers undermined sales further.

But the crucial point is that Marx's definition of class and class conflict under capitalism is hopelessly muddled and totally wrong. How can 'capitalists' , even in the same industry let alone in the entire social system, have any thing crucial in common? Brahmins and slaves, in a caste system, certainly enjoy a common class-interest, in conflict with other castes. But what is the common 'class-interest' of the 'capitalist class'? On the contrary, capitalist firms are in continual competition and rivalry with each other. They compete for raw material, for labour, for sales and customers

After all, there’s usually little stopping your competition from discounting their way to a win. In that game, loyalty is essentially irrelevant, as customers aren’t looking for a partner, they’re looking for a bargain.

But it isn’t the fun of DIY invention, urban exploration, physical danger, and civil disorder that the Z-Boys enjoyed in 1976. It is fun within serious limits, and for all of its thrills it is (by contrast) scripted. And rather obedient. The fact that there are public skateparks and high-performance skateboards signals progress: America has embraced this sport, as it did bicycles in the nineteenth century. Towns want to make skating safe and acceptable. The economy has more opportunity to grow. America is better off for all of this. Yet such government and commercial intervention in a sport that was born of radical liberty means that the fun itself has changed; it has become mediated. For the skaters who take pride in their flashy store-bought equipment have already missed the Z-Boys’ joke: Skating is a guerrilla activity. It’s the fun of beating, not supporting, the system. P. T. Barnum said it himself: all of business is humbug. How else could business turn a profit, if it didn’t trick you with advertising? If it didn’t hook you with its product? This particular brand of humbug was perfected in the late 1960s, when merchandise was developed and marketed and sold to make Americans feel like rebels. Now, as then, customers always pay for this privilege, and purveyors keep it safe (and generally clean) to curb their liability. They can’t afford customers taking real risks. Plus it’s bad for business to encourage real rebellion. And yet, marketers know Americans love fun—they have known this for centuries. And they know that Americans, especially kids, crave autonomy and participation, so they simulate the DIY experience at franchises like the Build-A-Bear “workshops,” where kids construct teddy bears from limited options, or “DIY” restaurants, where customers pay to grill their own steaks, fry their own pancakes, make their own Bloody Marys. These pay-to-play stores and restaurants are, in a sense, more active, more “fun,” than their traditional competition: that’s their big selling point. But in both cases (as Barnum knew) the joke is still on you: the personalized bear is a standardized mishmash, the personalized food is often inedible. As Las Vegas knows, the house always wins. In the history of radical American fun, pleasure comes from resistance, risk, and participation—the same virtues celebrated in the “Port Huron Statement” and the Digger Papers, in the flapper’s slang and the Pinkster Ode. In the history of commercial amusement, most pleasures for sale are by necessity passive. They curtail creativity and they limit participation (as they do, say, in a laser-tag arena) to a narrow range of calculated surprises, often amplified by dazzling technology. To this extent, TV and computer screens, from the tiny to the colossal, have become the scourge of American fun. The ubiquity of TV screens in public spaces (even in taxicabs and elevators) shows that such viewing isn’t amusement at all but rather an aggressive, ubiquitous distraction. Although a punky insurgency of heedless satire has stung the airwaves in recent decades—from equal-opportunity offenders like The Simpsons and South Park to Comedy Central’s rabble-rousing pundits, Jon Stewart and Stephen Colbert—the prevailing “fun” of commercial amusement puts minimal demands on citizens, besides their time and money. TV’s inherent ease seems to be its appeal, but it also sends a sobering, Jumbotron-sized message about the health of the public sphere.

1. Make incremental advances Grand visions inflated the bubble, so they should not be indulged. Anyone who claims to be able to do something great is suspect, and anyone who wants to change the world should be more humble. Small, incremental steps are the only safe path forward. 2. Stay lean and flexible All companies must be “lean,” which is code for “unplanned.” You should not know what your business will do; planning is arrogant and inflexible. Instead you should try things out, “iterate,” and treat entrepreneurship as agnostic experimentation. 3. Improve on the competition Don’t try to create a new market prematurely. The only way to know you have a real business is to start with an already existing customer, so you should build your company by improving on recognizable products already offered by successful competitors. 4. Focus on product, not sales If your product requires advertising or salespeople to sell it, it’s not good enough: technology is primarily about product development, not distribution. Bubble-era advertising was obviously wasteful, so the only sustainable growth is viral growth.

Pernod, the world’s secondlargest distiller, has faced competition from craft spirits and a shift to whiskey from vodka in the U.S. and other markets, and has been held back by a slowdown in China. Sales of its Absolut vodka fell 4 percent in Pernod’s last fiscal year.

Loyalty isn’t won in product development centers, in advertisements, or on toll-free help lines: Loyalty is won out in the field, in the trenches, during the sales call. It’s the result of the conversations our reps are having with customers every single day. The entire remainder of customer loyalty—all 53 percent—is attributable to your ability to outperform the competition in the sales experience itself. Over half of customer loyalty is a result not of what you sell, but how you sell. As important as it is to have great products, brand, and service, it’s all for naught if your reps can’t execute out in the field.

A third example of this was when we said, "Let's make some kind of coupon system"—because we had this idea that we would send people an automatic email when they visited our website that would tell them—and we had all these crazy ideas like, "Buy our software within the next 72 hours and get 25 percent off." (That thing was actually a bot that we wrote years ago, and it still runs. If you try CityDesk, which is our least popular product right now, you will get an automatic email with a 25 percent–off coupon that you have to use in the next 72 hours.) When we launched that, it did increase our sales a little bit. It gets people to evaluate the demo version right away—because they don't want to lose their 25 percent off coupon which is going to expire. These were all marginally good marketing ideas. Unfortunately we spent a lot of time chasing them. The one thing we learned over 5 years is that nothing works better than just improving your product. Every minute, every developer hour we spent on any one of these crazy things—although they had some marginal return on the work that we put into them—was nothing compared to just making a better version of the product and releasing it. If we had taken all the effort we put into these crazy schemes and put it into moving our software development schedule ahead by the equivalent amount, it would have paid off much more. That was probably the biggest mistake we made. And that's the advice I give everybody. All those little coupon schemes, this is what General Motors does. They figure out new rebate schemes because they forgot all about how to design cars people want to buy. But when you still remember how to make software people want, great, just improve it. Talk to your customers. Find out what they need. Don't pay any attention to the competition. They're not relevant to you. Only talk to your customers and your potential customers and see what it is that caused them not to buy your product or would cause them to buy more copies of it. And do that, and then ship it. That was something we really, really should have focused on, but, you know, we didn't know any better.

Are we expanding our sales force appropriately to match needed sales growth and market penetration?   2. Are our reps properly trained, and what is the lag time between training and an effective rep?   3. Is our compensation package and awards program sufficient to attract and retain high performers?   4. Is our field sales forecasting system functioning properly to anticipate negative trends?   5. Can we continue to leverage the sales expense line without damaging sales?   6. Is our expense budget tracking system effective?   7. Are we accurately monitoring sales force morale?   8. Is our pay schedule competitive?

High-velocity sales organizations are not born; they are developed. They require the necessary business environment to attract and keep high performers, and they require an efficient sales process, effective strategy, and management that believes in them. High-velocity sales organizations are your most powerful competitive advantage.

If your customer is dead set on buying the cheapest option today, then chances are pretty good they’ll be dead set on buying the cheapest option tomorrow as well. And that may or may not be you. After all, there’s usually little stopping your competition from discounting their way to a win. In that game, loyalty is essentially irrelevant, as customers aren’t looking for a partner, they’re looking for a bargain. And that’s not what this story is all about. This is a story about a customer’s willingness not only to keep buying from you, but to buy even more over time and to advocate on your behalf. And if that’s your goal, price is simply a bad way to get there.

Retail advertising is characterized by four main aspects: Creating an image of the shop Establishing its location Variety or special kind of goods offered, and Competitive price offers The

Despite initial enthusiasm from Page’s distributors, as an overall category, innerwear remained a low-profile product in retail stores. This would ultimately necessitate a high-pitched, pan-India advertising campaign from Page, but the costs were prohibitive. Competitive intensity from incumbents had already increased substantially during 1995–2000. When the company reached sales of Rs 21 crore in FY2000, Rupa and Maxwell were already at Rs 150 crore each. One level above them, in the mid-premium segment, brands like Liberty, Libertina and Tantex (TTK Tantex) were firmly ensconced. Associated Apparels (Liberty and Libertina) reported sales of Rs 100 crore during the same period. In a stroke of luck for Page, both TTK Tantex and Associated Apparels fell prey to labour strikes. TTK Tantex saw labour-related plant shutdowns in 1997 that lasted for two years, sending the company’s revenues into a steady descent (see Exhibit 55). The TTK Group had twenty companies across many sectors and, due to lack of management bandwidth to handle the crisis, sold the innerwear brand in FY02. In the same year, Associated Apparels had a labour strike in one of its factories that disrupted its supply chain. The exit of both TTK Tantex and the crippling of Associated Apparels played into Page’s hands as all the large innerwear retailers (dealers) in northern and western India shifted to Jockey.

Whereas penetration most often means that industry demand will level off, for durable goods, achieving penetration can lead to an abrupt drop in industry demand. After most potential customers have purchased the product, its durability implies that few will buy replacements for a number of years. If industry penetration has been rapid, this situation may translate into several very lean years for industry demand. For example, industry sales of snowmobiles, which underwent very rapid penetration, fell from 425,000 units per year in the peak year (1970-1971) to 125,000 to 200,000 units per year in 1976-1977.6 Recreational vehicles underwent a similar though not quite so dramatic decline. The relation between the growth rate after penetration and growth before penetration will be a function of how fast penetration has been reached and the average time before replacement, and this figure can be calculated.

Sell confidently. Sell competently. Sell compellingly. Sell competitively.

Take, for instance, the task of training a sales force to sell a new product. The three types of production operations can be easily identified. The conversion of large amounts of raw data about the product into meaningful selling strategies comprehensible to the sales personnel is a process step, which transforms data into strategies. The combination of the various sales strategies into a coherent program can be compared to an assembly step. Here the appropriate product-selling strategies and pertinent market data (such as competitive pricing and availability) are made to flow into one presentation, along with such things as brochures, handouts, and flip charts. The test operation comes in the form of a “dry run” presentation with a selected group of field sales personnel and field sales management. If the dry run fails the test, the material must be “reworked” (another well-established manufacturing concept) to meet the concerns and objections of the test audience.

It’s important to treat each patient the best way, every day, patient satisfaction and experience must be a priority. From the moment they check in, to the moment they check out, friendly faces will calm them down.

The smart business person sees an opportunity to generate referrals by collaborating with their competitors.

Most commercial software vendors, though slow to wake up to this new reality, are beginning to move aggressively to court developer populations and update their engagement and outreach capabilities. Instead of relying strictly on an enterprisefocused sales force, armies of technical evangelists and developer engagement professionals are being unleashed on unwitting developer populations in an attempt to ensure a given software vendor’s relevance for the population most likely to be making technical decisions. The problem facing software vendors, however, is that while recognizing the problem is indeed the first step, the solution is less than obvious. Commercial software vendors are particularly disadvantaged, because they are compelled to compete in a two-front war with both free software and software made available as a service. From a competitive standpoint, this means downward pressure on price with potentially higher costs driven by a need to compete with different models.

If you are in a competitive industry, great online reviews are not just nice to have, they are a requirement!

My dad continually reminded salespeople that their main job was to help the customer win. When you speak the account’s language and frame the sales story around what is most meaningful to the client, you stand out from the competition. Customers see you differently because the words you choose demonstrate a commitment to their success.

It will involve figuring out where in the country a product will work better, in terms of both efficacy and revenue. It will involve more than sending out an army of sales reps who often can’t get in the door anymore. It will take advantage of new digital promotion tools and targeting. It will harness big data for a far better understanding of competitive advantages, ideal patient populations, and how medicines can be personalized to the individual.

Startups should risk boldness, have a plan, avoid competitive markets, and focus as much on sales as product.

Brain scans have shown that high-end brands evoke the same neural response as religious images; that, shocking and lamentable though it may be, an iPod has the same effect as Mother Teresa. Also, the windows displaying these material icons extend from floor to ceiling, completely exposing the bright interiors, and the entrances are wide and doorless, so the instinctive fear of entering an unfamiliar enclosed space is overcome. Inside, young, attractive sales staff approach, seeking eye contact with friendly encouraging smiles, creating the illusion of youth and attractiveness in the shopper. The loud soul music suggests a bar or club where mutual attraction can blossom but, unlike the brutally competitive bars and clubs, here there is no possibility of rejection. Spending money is the easiest orgasm. Open the wallet and flash the bright card.

Business was booming for Tiffany & Co. in the late 1990s, thanks to the introduction of a new affordable silver jewellery line. The $110 silver charm bracelet inscribed with the Tiffany name was coveted by teenage girls, causing sales of the new silver product line to skyrocket 67% between 1997 and 2002. By 2003, company earnings had doubled and the silver jewellery line accounted for a third of Tiffany’s U.S. sales. And yet the queues of excited girls didn’t fill the store managers with joy. Sure, sales were up and stores were busy, but the people close to the brand, who understood its heritage, began to worry that this lower price point would forever change how the brand was perceived by its high-end customers. “We didn’t want the brand to be defined by any single product.” —Michael Kowalski, CEO, Tiffany & Co. Despite some unease from investors, Tiffany raised prices on their most popular silver products by 30% over the next three years and managed to halt the growth of their highly profitable silver line. And so the company sacrificed short-term gain and profits for the long-term good of the brand by telling the story they wanted customers to believe—that Tiffany’s represents something special. A client recently told me about her friend’s excited engagement announcement on Facebook. All she did was post a photo of the Tiffany blue box—not a picture of the ring in sight. The box alone was enough to say everything she wanted to say. QUESTIONS FOR YOU How are you least like the competition?

Empirical evidence suggests that the relationship between the profitability of larger share and smaller share depends on the industry. Exhibit 7-1 compares the rate of return on equity of the largest firms accounting for at least 30 percent of industry sales (leaders) to the rate of return on equity of the medium-sized firms in the same industry (followers). In this calculation small firms with assets less than $500,000 were excluded. Although some of the industries in the sample are overly broad, it is striking that followers were noticeably more profitable than leaders in 15 of 38 industries. The industries in which the followers’ rates of return were higher appear generally to be those where economies of scale are either not great or absent (clothing, footwear, pottery, meat products, carpets) and/or those that are highly segmented (optical, medical and ophthalmic goods, liquor, periodicals, carpets, and toys and sporting goods). The industries in which leaders’ rates of return are higher seem to be generally those with heavy advertising (soap; perfumes; soft drinks; grain mill products, i.e., cereal; cutlery) and/or research outlays and production economies of scale (radio and television, drugs, photographic equipment). This outcome is as we would expect.

You are who Google says you are

Search engine optimization is the systematic and well-analyzed way of improving the quality of content posted online and making sure it's the right quantity for an easy read. Today, SEO has become an important online content promotion strategy that no business or content creator has embraced. One of the major benefits is driving traffic to your website. Once you hire an agency specializing in SEO, you are assured of high search rankings and easy find for potential searches. You also get to enjoy a competitive advantage since you do not pay for search engine optimization ads but get to have a chance to increase your sales and revenue through the high rankings.

The keys to obtaining a competitive advantage and increasing sales are quite simple: Get close to your customers and know how to make them happier.

Pricing is perhaps the most important decision you will make. Pricing affects your revenues, profits, cash flow, asset needs, financing, and financial needs. Pricing affects the company’s culture, and it influences the customers’ perception of your products or service and of your company, especially when it is not easy for them to compare value. Price too high and customers may buy if they think you offer high value, or they might think you are overpriced and not buy, or you may attract competition. Price too low and you may not cover costs and fail even if you get sales, or your offering may be perceived as a “discount” product and attract unwanted customers.

Dacă în rândul femeilor depresia este cauzată de lipsa de iubire (aceasta este logica), în cazul bărbaților ea se datorează falimentului și pagubelor financiare. Pentru mulți dintre oamenii de afaceri pierderea soției are aceeași însemnătate cu pierderea companiei. În timp ce femeile obișnuiesc să fie competitive una cu alta mai curând pentru ceea ce sunt, majoritatea bărbaților rivalizează pentru ceea ce posedă. Desigur, există și excepții, însă tendința este clară: dacă vrem ca un coleg să se îngălbenească de invidie, nu ne rămâne decât să menționăm, fără a-i acorda totuși prea mare importanță, o ingenioasă investiție în dolari. Invidia îl poate nimici. Nici măcar posedarea vreunui talent special (sportiv, științific, muzical) nu ar fi în stare să producă un asemenea efect: în rândul bărbaților virtuozitatea este admirată și respectată, însă rareori invidiată. Deși ar trebui să suprimăm concurența dintre persoane, dacă aceasta este totuși necesară, atunci ar trebui să preferăm să concurăm prin ceea ce suntem, nu prin ceea ce posedăm. Emanciparea femeii și intrarea acesteia în câmpul muncii au dat naștere unei noi tipologii pe fondul acestei opoziții dintre competitivitate și posesiune: femeia de succes în afaceri. Pentru bărbatul instabil, succesul financiar al perechii sale constituie un adevărat blestem. Unii preferă să fie săraci decât să depindă financiar de parteneră. Alții tind să o eclipseze, să îi pună bețe în roate și/ori să îi disprețuiască meritele, încercând astfel să compenseze cumva lezarea stimei de sine.

Cu toate că testosteronul încă ne mai curge prin vene și că uneori ne face plăcere să ne luăm la pumni cu câte un necunocut care s-a uitat chiorâș la noi, în ființa umană prevalează alte atribute (valori și principii) care domolesc acele tendințe vechi și, în aparență, de nestăvilit. Altruismul, prietenia, respectul, munca în echipă și sacrificiul cu bună știință în favoarea idealurilor, toate acestea se opun agresivității oarbe și haotice. Este adevărat că nu prea ne dăm silința să le cultivăm ori să le punem în practică, însă important este că mijloacele există și că ne sunt la îndemână. Biologia nu ne poate explica decât anumite aspecte ale comportamentului nostru, fără a-l și justifica. Logica umană are nevoie de o bază etică și morală, adică de umanizare. După cum spunea Jung, „să-i permitem războinicului interior să se manifeste întrucât numai așa îl putem depăși”. Dacă lipsa dorinței de a obține glorie poate reduce proporțiile războaielor și dacă respectul favorizează crearea condițiilor indispensabile pentru atenuarea agresivității, atunci ce ne împiedică să ne schimbăm? De ce nu-l putem înfrânge pe mercenarul din noi? Răspunsul este simplu: cultura patriarhalistă preamărește și rpomovează o imagine agresivă și distorsionată a bărbatului: „Dacă nu ți se dă de bună voie, atunci ia-l cu forța.” Educația realizată în societate nu recomandă depășirea stadiului de războinic, ci mai curând îl glorifică și conservă într-o fază primitivă. Indiferent de vârstă, majoritatea activităților cotidiene ale bărbatului gravitează în jurul unor înfruntări fundamental competitive și/sau distructive. Dacă am analiza îndeaproape conținutul anumitor filme, jocuri pe calculator, haine bărbătești, sporturi rezervate bărbaților, jucării și benzi desenate, am observa că în toate aceste cazuri apologia violenței masculine se află pe cele mai înalte culmi ale sale. Iată cum se păstrează în viață acel spirit de prădător care se presupune că sălășluiește înlăuntrul fiecărui băiat. Răpăitul tobelor încă mai răsună.

Black economist William J. Wilson is tired of hearing whites blamed for everything. “[T]alented and educated blacks are experiencing unprecedented job opportunities…” he writes, “opportunities that are at least comparable to those of whites with equivalent qualifications.”78 As George Lewis, a hardworking black man who is vice president and treasurer of Philip Morris, says, “If you can manage money effectively, people don’t care what color you are.”79 Reginald Lewis is a black lawyer and investment banker. In 1987 his company, TLC Group, raised $985 million to acquire BCI Holdings, an international food conglomerate with $2.5 billion in sales. Mr. Lewis, whose net worth is estimated to be $100 million, is not very concerned about race. “I don’t really spend a lot of time thinking about that,” he says. “[T]he TLC Group is in a very competitive business and I really try not to divert too much of my energy to considering the kind of issues [race] … raised.

After a time, the ads for POWER products grew less prominent in The Final Call; it seems that many who enjoyed Minister Farrakhan’s speeches continued to brush their teeth with Crest. That the POWER campaign sputtered said something about the difficulty that faced any black business—the barriers to entry, the lack of finance, the leg up that your competitors possessed after having kept you out of the game for over three hundred years. But I suspected that it also reflected the inevitable tension that arose when Minister Farrakhan’s message was reduced to the mundane realities of buying toothpaste. I tried to imagine POWER’s product manager looking over his sales projections. He might briefly wonder whether it made sense to distribute the brand in national supermarket chains where blacks preferred to shop. If he rejected that idea, he might consider whether any black-owned supermarket trying to compete against the national chains could afford to give shelf space to a product guaranteed to alienate potential white customers. Would black consumers buy toothpaste through the mail? And what of the likelihood that the cheapest supplier of whatever it was that went into making toothpaste was a white man? Questions of competition, decisions forced by a market economy and majoritarian rule; issues of power. It was this unyielding reality—that whites were not simply phantoms to be expunged from our dreams but were an active and varied fact of our everyday lives—that finally explained how nationalism could thrive as an emotion and flounder as a program.

This means I can call up a client and say, “The bad news is that your buyer backed out because he decided to join a competitive curling team in Moscow. But! The good news is I got you another offer!” The bad news is instantly replaced by the good news. For people who sell other things, this could mean that a product won’t be ready on time or an order was placed incorrectly. Instead of calling up your customer and dropping the bad news, take time to think about what little surprise you can add to remedy the situation and maintain the relationship. “I’m so sorry that your order won’t be received on time. Please know that I’ve reduced my commission to make this a better deal for you, you get free shipping, and 20 percent off your next order.” Sometimes surprise comes in the simple form of exceeded expectations.

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There are many different Sponsor Programs available including several that give you a competition-free exclusive position. Sponsors are needed for each hour for the phone banks; for the Interview Area, where guests are interviewed by celebrity hosts; for table banners; and much more. There are even a few 1 and 2 minute Video Presentation Opportunities (company exposure) available. In all cases, representatives of your firm come on the show for you, your people, and your products. We will also assist you every step of the way with your employee fundraising event or other promotion, to raise the funds for your sponsorship. There really is no good reason not to participate. As a sponsor, you'll be showing your concern for the community, in connection with a situation that, at one time or another, will affect over 35% of all families! Arthritis is one of the most common, frustrating, debilitating diseases. It is understandably of great concern to a great many people. Also, the Arthritis Foundation has an excellent track record in terms of appropriate use of funds for research and education (rather than organizational overhead). We believe that real cures for arthritis are just around the corner; you can help get us there! With our Telethon on Channel 10, we will benefit from their superior production capability, involvement of their popular celebrities, and advance promotional opportunities. Our Telethon will be on for several hours immediately before and again immediately after an NBA Basketball Game, which we believe will increase our viewership. And, of course, we're mixing our live, local show with a “feed” from the National Telethon, featuring major Hollywood entertainers. Everything points to our highest, most responsive viewership ever! You'll be in good company, too, with local and national sponsors like: Thrifty, Sears, Allstate, Greyhound, Prudential, and Procter & Gamble. To summarize, you have an opportunity to … Help a good, worthy cause Gain valuable TV exposure and publicity Get all the benefits with little or no money out of your present budget — we'll work with your employees to raise the funds! Possibly have exclusive position, if you act quickly Have complete, step-by-step assistance from our staff Why not give me a call; let's arrange a meeting where I can personally explain the different “standard opportunities” available and then “brainstorm” with you about the best way for your business to participate. There's no obligation, of course, and certainly no pressure, but, together, we just may figure out the perfect situation for your business. Thank you for you consideration, Joel L. Beck Telethon Chairman for the Arthritis Foundation JLB/va _______ Letter reprinted with permission of Dan Kennedy (writer) and Joel Beck, former telethon chairman, Arizona.

principles are probably more correct: 1. It is better to risk boldness than triviality. 2. A bad plan is better than no plan. 3. Competitive markets destroy profits. 4. Sales matters just as much as product.

This noncompetitive sale of public property for private gain was being duplicated around the country. The government has orchestrated the sale of state assets to new private business ventures that had close ties to top officials and their families. The government used the same dictatorial powers to declare privately held lands part of new “development zones” to sell those, in turn, to business ventures tied to the government. This was all done behind closed doors with no competitive bidding, public hearings or judicial review.

Howard Schultz, the man who built Starbucks into a colossus, isn’t so different from Travis in some ways.5.22 He grew up in a public housing project in Brooklyn, sharing a two-bedroom apartment with his parents and two siblings. When he was seven years old, Schultz’s father broke his ankle and lost his job driving a diaper truck. That was all it took to throw the family into crisis. His father, after his ankle healed, began cycling through a series of lower-paying jobs. “My dad never found his way,” Schultz told me. “I saw his self-esteem get battered. I felt like there was so much more he could have accomplished.” Schultz’s school was a wild, overcrowded place with asphalt playgrounds and kids playing football, basketball, softball, punch ball, slap ball, and any other game they could devise. If your team lost, it could take an hour to get another turn. So Schultz made sure his team always won, no matter the cost. He would come home with bloody scrapes on his elbows and knees, which his mother would gently rinse with a wet cloth. “You don’t quit,” she told him. His competitiveness earned him a college football scholarship (he broke his jaw and never played a game), a communications degree, and eventually a job as a Xerox salesman in New York City. He’d wake up every morning, go to a new midtown office building, take the elevator to the top floor, and go door-to-door, politely inquiring if anyone was interested in toner or copy machines. Then he’d ride the elevator down one floor and start all over again. By the early 1980s, Schultz was working for a plastics manufacturer when he noticed that a little-known retailer in Seattle was ordering an inordinate number of coffee drip cones. Schultz flew out and fell in love with the company. Two years later, when he heard that Starbucks, then just six stores, was for sale, he asked everyone he knew for money and bought it. That was 1987. Within three years, there were eighty-four stores; within six years, more than a thousand. Today, there are seventeen thousand stores in more than fifty countries.

Compare net-promoter scores from specific regions, branches, service or sales reps, and customer segments. This often reveals root causes of differences as well as best practices that can be shared. What really counts, of course, is how your company compares with direct competitors. Have your market researchers survey your competitors’ customers using the same method. You can then determine how your company stacks up within your industry and whether your current net-promoter number is a competitive asset or a liability. Improve

Retailers have to generate increased sales in each location to justify the investment, and every manufacturer has to demonstrate how their brands help to achieve this versus competitive brands, either through increasing store traffic or increasing basket size, or both.

Two changes have weakened manufacturers’ hold over shelfspace. Independent stores, who were heavily influenced by the manufacturers, have declined dramatically in the face of competition from major chains and are now insignificant in most categories The large, sophisticated retailers have stopped seeing their shelfspace as a commodity for sale, and now see it as a crucial resource to be used in pursuit of their own objectives. In particular, retailers who are actively marketing their private label brands in competition with manufacturers will use shelfspace to promote their own brands. They have taken back control of ‘their’ shelfspace.

Top brands stayed on top because of the continual investment and commitment of the manufacturers during a time when mass media gave them an affordable and highly effective route to the consumers’ minds. They were able to defend their positions because they could afford more R & D, more advertising and a bigger sales force than any interlopers. Manufacturers became used to the idea of owning space in the consumer’s mind and believed it was theirs by right. But brand mindspace is not a permanently acquired asset that continually delivers profits. Rather, it represents a position that must be continually defended, especially today, where competition from retailers comes as a shock to most manufacturers.

The family farm is failing because the pattern it belongs to is failing, and the principal reason for this failure is the universal adoption, by our people and our leaders alike, of industrial values, which are based on three assumptions: 1. That value equals price—that the value of a farm, for example, is whatever it would bring on sale, because both a place and its price are “assets.” There is no essential difference between farming and selling a farm. 2. That all relations are mechanical. That a farm, for example, can be used like a factory, because there is no essential difference between a farm and a factory. 3. That the sufficient and definitive human motive is competitiveness—that a community, for example, can be treated like a resource or a market, because there is no difference between a community and a resource or a market. The industrial mind is a mind without compunction; it simply accepts that people, ultimately, will be treated as things and that things, ultimately, will be treated as garbage. Such

The more concentrated the competition, the more you have to worry about it. If you don’t realize when a case involves high competitor concentration, you could easily make a strategic recommendation that’s flat-out wrong. The easiest way to assess competitor concentration is to ask the following questions: How many competitors are there? How big are they (in terms of sales or market share)?

We would have won, but the other guys gave the deal away.” “The customer selected us technically and thinks we are the better company, but our competitor just gave the product away. We would never sell so cheaply as it would hurt our reputation.” Anybody who has ever run an enterprise sales force has heard this lie before. You go into an account, you fight hard, and you lose. The sales rep, not wanting to shine the light on himself, blames the “used car dealer” rep from the other company. The CEO, not wanting to believe that she’s losing product competitiveness, believes the rep. If you hear this lie, try to validate the claim with the actual customer. I’ll bet you can’t.

Let’s look at the case of Opsware. Why did I sell Opsware? Another good question is why didn’t I sell Opsware until I did? At Opsware, we started in the server automation market. When we received our first inquiries and offers for the server automation company, we had fewer than fifty customers. I believed that there were at least ten thousand target customers and that we had a decent shot at being number one. In addition, although I knew the market would be redefined, I thought that we could expand to networks and storage (data center automation) faster than the competition and win that market as well. Therefore, assuming 30 percent market share, somebody would have had to pay sixty times what we were worth in forward credit to buy out our potential. You won’t be surprised to find that nobody was willing to pay that. Once we grew to several hundred customers and expanded into data center automation, we were still number one and were more valuable stand-alone than any of the prior acquisition offers. At that point both Opsware and our main competitor, BladeLogic, had developed into full-fledged companies (worldwide sales forces, built-out professional services, etc.). This was significant, because it meant that a large company could buy one of us and potentially execute successfully (big enterprise companies can’t generally succeed with small acquisitions, because too much of the important intellectual property is the sales methodology, and big companies can’t build that).

One interview technique that I’d used to sort the good from the bad was to ask a series of questions about hiring, training, and managing sales reps. Typically, it would go like this: Ben: “What do you look for in a sales rep?” Candidate: “They need to be smart, aggressive, and competitive. They need to know how to do complex deals and navigate organizations.” Ben: “How do you test for those things in an interview?” Candidate: “Umm, well, I hire everybody out of my network.” Ben: “Okay, once you get them on board, what do you expect from them?” Candidate: “I expect them to understand and follow the sales process, I expect them to master the product, I expect them to be accurate in their forecasting. . . .” Ben: “Tell me about the training program that you designed to achieve this.” Candidate: “Umm.” They would then proceed to make something up as they went along.

General Questions What are the business issues (service quality, product quality, speed, capacity, cost, morale, competitive landscape, impending regulations, etc.) we wish to address? What does the customer want? What measurable target condition(s) are we aiming for? Which process blocks add value or are necessary non-value-adding? How can we reduce delays between processes? How can we improve the quality of incoming work at each process? How can we reduce work effort and other expenses across the value stream? How can we create a more effective value stream (greater value to customers, better supplier relationships, higher sales conversion rates, better estimates-to-actuals, lower legal and compliance risk, etc.)? How will we monitor value stream performance?

One version of Borrowed thinking is a technique I call the Different Lens. To begin, brainstorm a list of people, industries, or perspectives. Examples may include: an archaeologist, a 4-year-old, someone living 200 years in the future, Elon Musk, a Navy SEAL, a zoologist, Brad Pitt, Picasso, a professional bowling champion. The more diverse and strange, the better. Next, take a stack of index cards and write one name or role from your list on the back of each. You’re now armed for a Different Lens brainstorm session. First, clearly articulate the real-world challenge you’re facing. Perhaps it is developing a new product to combat a competitive launch. Maybe you’re looking for a way to improve closing rates throughout your sales force, attract and retain Millennial workers, or reduce error-rates in your manufacturing plant. Once the challenge has been identified, turn over one card. If the card reads “architect,” the group brainstorms how an architect would approach their real-world challenge. Once the ideas start to dwindle, flip over the next card and look at the problem through the next lens. Instead of thinking about how your competition is solving this problem, think about how Beyoncé would slay it. Before long, you and your team will see the problem in a whole new light, and by borrowing the thinking from others, you’ll gain a fresh perspective that will lead to the innovative solutions you seek.

The two most important qualities for success in business are patience and foresight, and the man who lacks patience is not cut out for success in competitive enterprise.