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Copyright 2007 Imaginings

BUSINESS Values for The Twenty-First Century 
by Jeanne Burrows-Johnson

 (You are welcome to use this information, citing our copyright and
noting http://www.ImaginingsAZ.com as your source.)

Today’s marketplace offers opportunities and challenges previously unimagined.   Unfortunately, the current focus on bottom-line analysis of budgetary elements often leads to tunnel vision that may yield indicators of line item profitability, but diminishes valuation of overall prosperity.  Driven by fear of low profit, companies may choose to reduce the quality of their operations, thereby projecting an image of minimal value.  Consider your experiences with the following cost-cutting measures.

First Impressions.  Do you remember when the voice of a warmly welcoming receptionist made the vital first contact with a successful firm’s clients, rather than harried checkout clerks and complex digital messaging systems that encourage irritation before the onset of business? 

Advertising Nightmares.  How often are you disappointed in the results of advertising opportunities?  Do your telephone directory sales reps recommend distinctive borders to make your ads pop out from a sea of competitors?  Have they suggested fee-lowering means for identifying your firm?  Have you been offered undeliverable products, like “city-wide” specialty sections that prove to be printed in limited zip codes? 

Isolated Marketing Endeavors.  When is the last time your financial advisors pointed out the intrinsic value of a comprehensive marketing program that maximizes community visibility and encourages free word-of-mouth advertising?  Or do they apply a bottom-line of view of each ad campaign and community project, thus forcing slices of your marketing pie to be wholly profitable while undercutting the accumulative benefits of a long-term program?

OUR RESPONSE TO STRATEGIES THAT DIMINISH STATURE? 
Grow your market cost-effectively, while establishing yourself as
an industry and community leader, while demonstrating:

1.  A SOLID Commitment to THE GOLDEN RULE
Treat clients, staff, and providers with the attention and quality of service you expect for yourself!

2.  COMPREHENSIVE RESEARCH & MULTI-TIERED DEVELOPMENT
You do not have to be a Fortune 500 company to benefit from simple R&D.  Evaluate where you are and where you want to be; then break progressive expansion into manageable steps.
 

 SOLIDIFYING YOUR PLANS FOR DEVELOPMENT

The start of a business quarter is ideal for honing long-range planning and shaping concise development strategies.  Begin by evaluating your existing circumstances, impartially reviewing each aspect of your company.  Write lists of the positive and negative facets of your ongoing operation, selecting categories of consideration from your Business Plan, recent Profit and Loss Report and any customer feedback you may have.  Also, consider features of other companies you appreciate that may be missing from your organization.

Next, after a refreshing break, list options for maximizing the positive aspects of your business and resolving the negative ones.  If you envision selling your business, expand the evaluation process, by asking, “What, attracts my clients to me, and what, in addition to a good bottom line, will attract an ideal buyer to my business?”  Once you have compiled a definitive list of potential actions, ask yourself, “Does each action I am proposing reflect my inner values and relate directly to my long-term goals?”  If an action will build goodwill and establish better friendships among clients and staff, plus friends and family, it’s probably worth implementing. 

Regardless of the nature of your business, or your goals, the following suggestions may help you determine concrete ways to grow your business. 

~   WARMLY WELCOME AND SERVICE CLIENTS.   Regardless of whether clients interact with you by voice, on-site or over the internet, ensure that each one is greeted warmly and efficiently.  Set reasonable policies.  When faced with a product return or rejection of work performed, consider that a rigid return policy that avoids a $19.99 payout actually may prove costly through negative word-of-mouth advertising. 

~   PROVIDE AN INTERESTING AMBIENCE, VOLUME DISCOUNTS AND OTHER INCENTIVES.  You can encourage repeat patronage with a stimulating environment, discounts for volume or repeat purchases and other incentives.  Fresh paint, comfortable seating, a revolving art show, and a coffee and water bar can benefit clients and also ensure the energy and efficiency of the staff who service those clients.

~ RECOGNIZE THE VALUE OF EMPLOYEES.  What do you invest in employees who rapidly revolve out the door?  What level of pay, advanced training or other incentives will retain valuable staff members?  Rewarding team accomplishments and boosting productivity with better, even used, equipment can enhance the working environment.  Also, establishing employee review procedures and guidelines for performance incentives, proclaims your commitment to your team!

~ ENCOURAGE REFERRALS.  Consider offering commissions, reciprocation or other compensation to customers, colleagues and even competitors who send you clients.  This can be most cost-effective if you sell products with a high markup (i.e. food, furnishings or jewelry) or are a service provider, paying employees regardless of the assignments they may perform.

~   How do people describe you?  Periodic surveys can yield surprising information about how your business is perceived.  Gaining a sense of clientele demographics can generate ideas for increasing satisfaction and positive visibility. Perhaps teaming with neighboring firms to help a school or non-profit entity will demonstrate your commitment to the community, while producing free advertising plus prospective staff and new clients!

YOUR RE-ENERGIZED ORGANIZATION

This approach may seem simplistic, but you will not regret examining business choices with a fair assessment of their overall value to your personal as well as professional journey.  With each step forward, your will demonstrate your vision for shared success, inspiring colleagues to work as a dedicated team.  Through positive interaction, you will find renewed energy and excitement for life, which is easier on your body, mind and spirit.  Such a cooperative environment will prove light on your wallet as well, since creative ideas often generate creative means of financing.  And, when a valuable idea doesn’t fit into your current vision, place it on a “mental shelf” for review at a designated time. Upon re-examination, you may find the time for initialization has arrived--or you may decide to gift it to someone whose business plan is ideal for bringing it to fruition, with gratitude for your inspiration!

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