Reality Check... Part II

Are you ready? Here's more of reality.

Reality is understanding that our competitors can be friends
but not to forget that we are still competing; therefore,
professionalism should always be upheld. Reality is recognizing
that while customers bring in the dollars, employees help you
multiply it. Reality is realizing that times have changed because
business changed it, hence, you have a big say in influencing
the future.

"It is a world made for elephants, with experts prophesying that
80% of online sales will eventually go to only 30 companies."
~ Charles Handy

Isn't it ironic that both forecasting and fantasizing starts with an
"F", or is it just coincidence? Well, we can not just leave the future
to such if you really want a fortune.

Do not just rely on self-improvement. Adapt the best practices
and emulate world-class performers.

Attract business-to-business purchasing on the internet. Allow
customers to access pictures of products, catalogs, or shop among
online vendors for the best margins and terms. While shopping
online is a breeze, take necessary precautions when making your
purchase. Shop with online merchants that you know and trust.

Focus on building customer share rather than market share.
Notice, McDonald's practices cross-selling and up-selling.

Do not base decisions on intuition alone, gut-feel or pedestrian
approach but combine them with models and facts.

Examine marketing scorecards to know what is happening to
market share, customer loss rate, customer satisfaction, and
product quality against those of competition. A change in
marketing indicators predicts movements in financial results.

"When nobody wants something, that creates an opportunity."
~ Carl Icahn

Recognize that every employee must be customer-focused.
Each of them has to think, do, and act as a customer would.
Refrain from relying on the old impression that marketing is
the sole responsibility of sales and marketing personnel.

Train your people to be entrepreneurs... and gain new customers
with the objective of having them in your camp for the long run.

You are the Head! Go for it!

Take note...
"Pull off a coup and you're a national hero, fail and you're an
evil criminal; in business it's the same difference between
bankruptcy and making a fortune." - Jeffrey Archer

Reality Check...

To survive difficult times, and more so, to thrive -- it is a must
that you face the realities of the times.

"The number one impediment to cultural change in large
organizations is a lack of urgency fostered by too much
historical success." - John P. Kotter

Notice? The marketplace is not what it used to be. To do more
of the same routine activities that made you successful in the
past will make you obsolete. To do exactly what competition is
doing will not give you the needed competitive edge. To use your
past performance as your benchmark will make you a history in
the marketing world. Companies must overcome the paradigm
of doing things based on past behaviors and past successes.
Past actions are based on their best knowledge in dealing with
the circumstances present at that time. In thinking about the
future, companies must make the changes today to create the
business of the future.

Challenging times are always around us. Crisis is like a double
bladed weapon. It becomes a danger or an opportunity. Every
crisis situation presents an equal opportunity. Economic
slowdowns come and go, hence, preparedness is a virtue.

"The important things of tomorrow are probably going to be
things that are overlooked today." - Andrew S. Grove

Realize that there's not just the 4 Ps of the marketing mix but
there's also the 4 Ms of the new economy: men (people, human
asset), money (resource allocations, budgets), machines
(hardware), and materials (software).

The course your company takes tomorrow depends on the
choices you made today. Thus, understand that developing a
sustainable competitive advantage is not enough, you have to
keep on inventing new advantages.

There are no short cuts to success so do not try making short
cuts to your marketing plan. Figure out how to develop it in order
to achieve desired organizational goals. Be ahead of schedule.
Aim to be better and faster than rivals. Grab competitors' market
share and move target customers to your side, then you will know
that the smoke is just about to set a lovely fire.

Now get people moving in your camp.

Take note...
"For an effective reality check: Hire someone different from you."