JUNE 2008

I hate entrepreneur magazines. I hate business success stories.  I hate stories about some sixteen year old who made $500,000 selling used comic books online.

Those stories can ruin you. Can you get good ideas from reading that stuff? Probably not. Here's why:

• Luck was probably a huge factor
• You do not see all the failure stories which far outnumber the success stories
• The first one to try something new wins, the second one fails

So what do you get ...
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Advertising is the fastest way to burn money.

Mail packets don't work.
Post cards don't work.
Telemarketing doesn't work.
TV doesn't work.
Print Ads don't work.
Radio Ads don't work.
Email blitzing doesn't work.

None of these methods of advertising will produce sales for your business. Not now. They used to work, but they don't now.

Dangerous myth: If I get my message to thousands of people and only a few buy, it's worth it. This is dangerous because it sounds so reasonable. And ...
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The way out may be narrow but it's easier than enlarging the opening.

When times get tough as they are now, rather than trying to expand your market, have you thought about reducing it? If you can appeal to a small segment of your market with something remarkable, you will achieve a greater share of that specific segment. You'll also get better margins by addressing a specific need or want rather than attempting to achieve mass ...
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Your organization is a talent pool. Do you utilize it?

Most managers sincerely believe they are open minded and willing to accept suggestions or new ideas from employees. I hear often about open door policies and freedom to speak freely at meetings. But the devil is in the details.

Let's assume you are open to hearing new ideas. When a suggestion for improvement is proffered, what happens? What's the process of evaluating a thought nugget at your ...
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