Tag: ITB Partners

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Employee Engagement – Why Is It So Critical Now?

Today’s employees are facing unprecedented levels of stress both personally and professionally.

Employee Engagement

In many companies, employees face uncertainty and perhaps a furlough, layoff, or pay reduction due to the economic impact of the pandemic. In other companies, where the demand for their service or product suddenly increased (PPE products, telemedicine software, or video conferencing) employees find themselves overwhelmed with excessive hours week after week, perhaps in addition to now having to home school their children. And then there are the essential employees that have been asked to risk their own health to meet the new societal demands brought on by the pandemic.

Every day, we are reminded of the toll the pandemic is playing on employees. You can hear it in employees’ conversations and see it play out live on Zoom conference meetings. The daily news is filled with employees’ reactions to their company’s actions in response to the pandemic. Some companies like Amazon and Google made national news as employees expressed concerns to the press.

How employers treat their employees and how employees perceive their company during this challenging time will have a long-term impact on employee engagement levels for years to come. We saw proof of this in the years that followed the 2009 financial crisis. During that crisis, many companies failed to demonstrate compassion and their actions did not facilitate trust. As companies focused on the economic downturn, they failed to take steps to keep their employees engaged. As a result, many companies experienced decreased productivity, reduced customer satisfaction, and higher levels of attrition for years after 2009. Similarly, their brand was impacted for years to come as potential new hires used social media and networking to uncover past employees’ perceptions of their employers.

Organizations that take steps now to prevent a long-term disengaged workforce will reap benefits not only in the short-term but for years to come after the pandemic is history. Even as companies work hard today to contain costs, there are a number of simple, low-cost actions all employers can take to keep their workforce engaged.

High Impact, Low-Cost Employee Engagement Actions

Ensure alignment of the leadership team. Senior leaders set the tone and are responsible for making sure all managers model the tone and deliver consistent messaging.

Constant, transparent communication with employees is key, especially in trying times. Companies can keep employees informed through various channels, including corporate-wide virtual meetings, manager 1:1 meetings, and electronic updates.

Develop a culture and expectation that all managers check-in with their employees on a regular basis. By checking in with employees and listening, managers will develop an understanding of each employee’s concerns, needs, and goals.

Establish and communicate the go-forward vision for the company so employees can understand and support the vision.

Create an informal or formal mechanism to take the pulse of employees. Then ensure senior management receives this important feedback and as needed, takes actions in response to the feedback.

Regardless of the specific impact the pandemic is having on your business, the key to successfully and rapidly getting back on track at the back end of the pandemic will in a large part depend upon your workforce. By focusing on these employee engagement best practices, employers will foster a culture where employees are motivated to help the company achieve its goals. An inspired workforce will work hard to achieve productivity and sales goals. A disengaged workforce will complain to customers and resign when the job market picks up. Given the strong link between an engaged, motivated workforce, and corporate success, there has never been a better time for companies to focus on employee engagement.

 

Anne Gildea-Olt

Anne Gildea-Olt is the managing member of Strategic HRM Solutions, LLC., an HR consulting firm committed to helping companies successfully navigate change, accelerate growth, and deliver proactive innovative human capital solutions.

Anne@gohrmsolutions.com https://strategichrmsolutionsllc.godaddysites.com

Thank you for visiting our blog.

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

Jim Weber – Managing Partner, ITB Partners

May Members Meeting via ZOOM

Jim Weber is inviting you to a scheduled Zoom meeting.  Kevin Garrett is our Main Speaker, Doug Reifschneider is the Spotlight Speaker

Kevin Garrett is a nationally recognized LPL Financial Advisor, and Partner in one of the largest financial planning consortiums in the country.

 

Kevin Garrett – Integrated Financial Group

Kevin and his team focus his extensive planning strategies around pursuing his clients’ goals and dreams for themselves and their families before and during retirement. He specializes in assisting women who are dealing with challenges in their lives, as well as the unique needs of sports and entertainment professionals.

 

Kevin is involved in the local community, most recently as a member of the International Rotary’s Dunwoody Chapter, Committee Chairman with the North Fulton County March of Dimes, as well as being on Advisory Boards for the St. Jude Golf for the Kids Invitational and the Fulton County school system. Kevin is a member of the Atlanta Athletic Club where he has been active on the club’s committees. He also coaches his son’s league basketball team. He lives in the Atlanta area with his life and business partner, Lesley, and their 2 sons and daughter.

SOUND ADVICE, COMPREHENSIVE STRATEGIES

Read more

 

 

Register by Clicking Here

Join Zoom Meeting

https://us02web.zoom.us/j/988485706?pwd=M1RKQ1QxM1RpZXkrUWpGS2wvL2VpQT09

Meeting ID: 988 485 706

Password: 002770

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The 7-R’s of Resiliency

Doug Reifschneider

Building portco resiliency right now 

The current COVID-19 crisis is already changing the economy in extraordinary and unexpected ways. But there are steps private equity firms can help their portfolio companies make to help weather the storm, and recover when the clouds lift, according to Doug Reifschneider, a CMO with Chief Outsiders.

 The world’s best epidemiologists only have models to predict the full depth and breadth of the COVID-19 pandemic, but companies are already feeling the weight of the economic fallout. They’re scrambling to find the best way to respond, and in many cases, survive, all the while being rightly concerned for the health of their families and communities. It’s not easy, and this is no time to pretend otherwise.

Some enterprises might be dusting off contingency plans for downturns or large-scale threats, but this moment requires more than that. It demands a resiliency program, one that’s clear-eyed and proactive. If the outlook is too bleak or too rosy, the result can be the same dangerous inertia. But Doug Reifschneider, a CMO with Chief Outsiders, has a series of initiatives that can counter that.

Building off his extensive experience in the retail and restaurant industries, Reifschneider has devised what he calls the “7 Rs of Resiliency Programs.” It’s a checklist that can help frame and direct the efforts to respond to COVID-19. “It’s based on a mental framework from the US Marines that is centered on three steps in coping with a crisis: improvise, adapt and overcome,” says Reifschneider. “Plenty of people are improvising at this point, but it’s time to look at more constructive ways to adapt and plan for recovery.”

Private equity firms would do well to look within each company of their portfolio and help guide them in executing each one of these steps.

Review costs. “Most people are already doing this, as they’d have to be asleep at the wheel if they weren’t,” says Reifschneider. Still, beyond canceling recurring services that are simply irrelevant, like window washing, it can involve hard calls about labor and supplies. A lot of restaurants, retail brick & mortar and even brand HQ’s are furloughing employees and the current stimulus will help alleviate that pain, but those cuts need to be executed without crippling the resiliency program.

Reassign tasks. Sometimes the best thing a company can do is focus on what it can give back. In the short term, that can be repurposing the business for strictly philanthropic purposes. He cites one restaurant that used its parking lot for a Red Cross Blood Drive. “It doesn’t address the bottom line, but it establishes the business as a partner in the community,” says Reifschneider.

Rethink offerings. For restaurants that never considered takeout or delivery options, this is the time to launch those. For retailers, this can involve more online ordering and curbside pick-up. But creativity is key here. Brazilian steakhouse chain Fogo de Chao was centered around its all-you-can-eat in-house dining experience. “So they became a butcher shop, offering their unique cuts of meat so folks could cook them at home,” says Reifschneider. “It’s a savvy way to redeploy inventory and keep sales from cratering completely.”

Another example is the company Wow Bao, that created a special licensing deal to allow other restaurants to produce and sell its dumplings by selling the ingredients and a few pieces of equipment to do so.

Reconsider sacred cows.  As businesses rethink their offerings, they can run smack into certain “sacred cows” that seem to be integral to their identity. That high-end eatery may balk at delivery options since that fish dish might be ruined in the thirty or forty-five minutes it takes to deliver it. “This is no time for those kinds of pretensions,” warns Reifschneider. “Find a way to make a meal pack, which are popular now, or focus on offerings that can be delivered successfully.” Several restaurants have created pop-up drive-throughs, with no more than a tent and a landlord’s blessing. And the likes of Home Depot have shifted to curbside pick-ups even as it prided itself on counseling customers in the store.

Reschedule Initiatives. Retailers and restaurants that had planned remodeling projects could move those up, but only if they have the resources to do so. “It would take only the best-capitalized businesses to embark on such remodeling projects, but if they can, it’s worth doing,” says Reifschneider. “Instead of closing for that week in August to remodel, do that now.” Of course, such initiatives can still be hindered by government directives that limit non-essential work.

Reconnect. Communication matters more than ever. “We may be keeping our distance physically, but we’ve never been more social,” says Reifschneider. “We have regular Zoom happy hours and contact clients regularly.” B2B companies will have closer relationships since they sell directly to their clients, but B2C companies shouldn’t go quiet either. They need to reach out every few days, so long as they are mindful of tone and content.

Reifschneider cites a recent study by Edelman that surveyed over 12,000 people across 12 countries on brand trust in the wake of COVID-19, which finds that 71% of respondents would lose trust in a company forever if that company is seen as putting profits before people right now.

 

“Every enterprise should take that 71% seriously, and make sure their communications are exclusively about how they’re helping their communities, their customers and their employees cope with the situation,” says Reifschneider. “Striking a tone of generosity and support is crucial.”

Ready the relaunch. There is no reliable guidance for when any company will return to normalcy. However, Reifschneider notes this shouldn’t prevent companies from planning the steps for a reopening. Employees will need to be retrained with new procedures for interacting with customers, and in the restaurant business, there are likely to be new protocols for food prep and increased sanitation. Dining rooms and showroom floors will get dusty during the shutdown, so time needs to be allocated for a deep clean. “This also might be a great time to retrain employees in customer service, stocking shelves, or getting CPUs in line,” says Reifschneider.

However, no one should take any of these steps in a vacuum. Each needs to be tailored to the market reality facing a given enterprise. “At Chief Outsiders, we vet all assumptions, with hands-on research initiatives that capture how customers and peers are thinking and acting,” says Reifschneider. “And we do this even when the market is stable and growing, let alone during a crisis that can change everything overnight.”

So perhaps the first step in any resiliency plan is for a business to get its bearings, and understand exactly where it stands at the moment. It might be all the more important to listen before speaking, to ask, and use that feedback to gauge what to do next. The best private equity firms will already have open channels with their portfolio companies and that level of candor and sense of collaboration should be extended to all stakeholders.

In times like this, humility might be a secret weapon, provided it doesn’t stop a company from acting. Fortune may still favor the bold in times like these, but only if the bold is informed and willing to help.

Doug Reifschneider
Doug Reifschneider

https://www.itbpartners.com/doug-reifschneider/

Thank you for visiting our blog.

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

Jim Weber – Managing Partner, ITB Partners

 

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Complimentary Offer For Coaching, Consulting, and Mentoring During Pandemic

Jim Weber – Managing Partner, ITB Partners

This is a difficult, even unprecedented time.  There is great uncertainty, and many are fearful.  Some are suffering through this alone. Thankfully, this pandemic comes at a time when our technology makes forced isolation bearable.

In difficult times the American Spirit shines brightest because we face our challenges together.  Given the strength of our relationships, the value we place on one another, I am confident that we will overcome this scourge.  We may be bruised, but we will emerge stronger.

 

From a personal perspective, I believe my life’s mission is to help however I can.  My goal is to focus on what I can control and avoid dwelling on issues beyond my control.

I know that my core strength is helping people navigate the new normal for employment and career management. In many respects, this was the genesis of ITB PARTNERS.

I want you to know that I am here to help you. In fact, I am happy to offer my services free of charge to help you through this difficult time.

There are many things we can discuss, but I may be most helpful in the following areas:

  1. Navigating the quarantine.
  2. Developing a Personal Recovery Plan.
  3. Maintaining relationships with your customers, clients, and network.
  4. Viable Job Search Strategies.
  5. Key considerations to anticipate from the recovery.
  6. Significant trends to consider in your planning.
  7. Evaluating options and setting priorities.
  8. How to start a business.

Ultimately, I’m available to talk with you even if to bounce around some ideas or offer introductions from my vast network.

So, here’s my offer:

If you would like a free 30-minute consultation, email Jim.Weber@itbpartners.com  with this subject: “I Want  to Schedule a Free Consultation.”   I will respond back with my calendar tool to schedule a telephone or video call.

I hope you find this useful and will schedule a call.  If nothing else, I would enjoy an update from you to know how you are coping.

Best wishes for your continued health and safety.

Thank you for visiting our blog.

Jim Weber – Managing Partner, ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

Jim Weber – Managing Partner, ITB Partners

 

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Buying Local: How Multi-Unit CEOs Can Win at Marketing in Anytown, U.S.A.

There was a time, generations ago, when buyers didn’t venture too far from their home to satisfy their basic needs. Today, most consumers don’t think twice about using a few keystrokes to get the necessities shipped from some distant warehouse to their front door.

Despite this phase shift, “buying local” remains a relevant concept and even a source of pride for communities that rally around the brick-and-mortar businesses that still dot the landscape.

So, in the face of Amazonian-sized efforts to get consumers to do otherwise, how can you, as a multi-unit CEO, provide the necessary marketing support to your local units to keep the lifeblood flowing?

Local store marketing, or LSM, though not easy, isn’t really that hard. Once you commit to a strategy, the actual motions can be exceedingly easy. Nonetheless, LSM requires patience, commitment and resources; and execution can be time-consuming and tedious. And unlike online marketing, where data flows in both directions, many LSM efforts are still measured by feet (the human kind), and not 0s and 1s.

So, how do we define LSM, and what are some key considerations to foster success?

LSM – A Definition

First, let’s consider the following examples:
• A local restaurant drops off a catering menu to your office.
• You notice that a little league baseball team is sponsored by the local hardware store.
• You encounter three dry cleaners within a mile of where you live, each with a sign that promotes their price or extra benefits.

Of these, which would you consider to be LSM? If you answered “all,” you would be correct. Whether you know it as guerilla marketing, shoe-leather marketing, neighborhood marketing or even just plain old “local marketing,” all of these fit the definition of LSM – marketing and advertising for a small business location to augment other national or regional marketing, IF the small business is part of a larger brick-and-mortar chain.

Lather, Rinse and Repeat

To be effective, LSM has to be executed every week, all the time. Sponsoring a little league team once, or replying to online reviews twice per year, or buying an ad in the local shopper twice is what we at Chief Outsiders call “Random Acts of Marketing” – those sporadic and non-strategic one-offs that do little to move the needle.

To be truly successful, LSM needs to be a fixture of every local store’s marketing plan – in the words of Vince Lombardi, “it is not a sometime thing, it is an all the time thing.” The best way to make this happen is to commit resources to it as part of your overall marketing mix. Since it typically comprises but a small percentage of your chain’s overall marketing budget, it is built for endurance – not speed – so you need to be patient with the outcome.

Site Awareness is as Important as Brand Awareness

I’ll share a true story about an experience I had when I was at Firehouse Subs. The story takes place several years ago, when online reviews weren’t yet a big thing, and mobile didn’t have the pervasive influence that it does today.
It was at a time when Firehouse Subs had about 300-400 restaurants, and we determined that, without the air cover of regional or national advertising, we had to do something to jump-start sales and get franchisees engaged.
One way we did this was by conducting “Founder’s Tours.” The co-founders, COO and many of the rest of the HQ staff went on bi-weekly road trips, known as Founder’s Tours. On one trip, we pulled up to a restaurant in central Florida and clamored out of the bus. There were 12 of us on the bus that day and when we arrived at the restaurant at around 9:30 a.m., we were given a map of neighborhoods and businesses to visit and bags filled with catering menus, courtesy cards, cookies, and chips. Of course, one person had to remain behind to be the sign waver.

That’s right – the sign waver. That’s because the two primary LRM tactics we were modeling for the franchisee were:
1. Neighborhood canvassing to get to know your neighbors
2. Sign waving to draw attention to the location

Shows example of sign waving
Sign waving in the rain

While I waved a large sign with a Firehouse Subs logo on it, six teams of two people each went into the trade area and visited as many other local businesses as they could in about two hours. When everyone returned to the restaurant, we debriefed.

Here’s what we learned:
• Each team covered a distance of about ¾ – 1 mile from the restaurant
• Most businesses were happy to receive the “free” goodie bag
• About 75 percent had heard of Firehouse Subs (Brand awareness, yes!)
• Over half of those visited did not know of the specific location of this restaurant

I’ll let that last bullet point sink in for a moment. Over 50 percent of the people we talked to within a mile of the restaurant had no idea they were less than a mile from the restaurant. Had this been a new location, site awareness would have been expected to be low. Unfortunately, the business had been open and operating for more than 4 years at the time of the Founder’s Tour visit.

That’s when we realized that brand awareness is one thing, and site awareness is another. Having brand awareness without site awareness is worthless.
How can a small business let potential customers in their trade area know where it is located?

Be active in the community, get to know your neighbors — and be visible.

In other words, commit to local marketing for your locations, and be found.

About the Author

Doug Reifschneider is a dynamic marketing leader with 30+ years of experience in the restaurant industry and a demonstrated history of driving growth through the creation and delivery of unique, creative brand strategies enhancing customer affinity and market position.

Contact Doug at:   reif78@gmail.com

Thank you for visiting our blog.

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

Jim Weber – Managing Partner, ITB Partners

 

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ITB Partners Announces the Opening of its Company Store: www.shopitbpartners.com

Many thanks to Ron Weinstock, of Weinstock Marketing and ITB Partners for facilitating this Partnership.

What is a Company Store?

A company store is an on-line, fully integrated e-commerce site that gives you complete control over your branded merchandise program.

This is not a new concept as many printers have expanded their services, providing companies an outsourced solution for the logistical management of marketing collateral and branded products.  A dedicated company store provides employees, dealers, franchisees, agents and even consumers the ability to easily purchase branded merchandise.  “The more people who see our logo, the greater the likelihood they will call ITB Partners to resolve their problems.”

“Symphonix Solutions will handle everything for us, from acquiring and warehousing the merchandise for our store to maintaining the web-portal and executing order fulfillment.” 

 

SYMPHONIX SOLUTIONS CLIENT BRAND MANAGEMENT PLATFORM IS CALLED  “ONBOARD”

From this customized web portal, you can oversee brochures, displays, promotional products and digital brand assets, control and track projects, costs, create reports control inventory and send direct response emails.

At Symphonix Solutions, we have a variety of solutions to make it easy for our clients.

The ITB Partners’ Portal is

www.shopitbpartners.com

 

To learn more about Symphonix Solutions and how we can help promote your brand and your client’s brand, contact Michelle Mehnert at mmehnert@symphonixsolutions.com.

 

 Contacts:

Symphonix Solutions

PRINT  MARKETING  TECHNOLOGY  FULFILLMENT

9825 Marina Blvd, Suite 100

Boca Raton, FL 33428

Michelle Mehnert <mmehnert@symphonixsolutions.com>

Rob Finkelstein <rfinkelstein@symphonixsolutions.com>

Boca Raton: 561-826-3242

Charlotte: 704-372-7888

info@symphonixsolutions.com

 

Symphonix Solutions

 

Since 2008, Symphonix Solutions has been helping clients manage their marketing and sales materials providing customized solutions that improve the production, distribution, and control of their assets.  “Our proprietary technology provides each client with a customized portal to track inventory, costs, and delivery from anywhere in the world.”

“Our clients want the best quality, cost-effective, easy solutions, and Symphonix delivers.” With the highest level of service and a dedicated team you can trust, Symphonix partners with the best provider network to produce the best results from people who care about your projects and consistently deliver because they love what they do.

 

Symphonic Solutions stands ready to help you and your clients with their printing needs as well!

 

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Starbucks Meets WeWork at the Automobile Service Center

By Jim Weber and Mark Grace

i’ve learned that it is a big mistake to ignore my automobile’s  ‘check engine’ light.  I’ll admit, there was a time when I viewed the indicator light as a suggestion.  Not anymore.  I respect the ‘Check Engine’ warning light and take immediate action.  Often, a failed sensor is the problem. Sometimes, when a sensor fails it cannot provide the automobile’s onboard computer with the information required to ensure the proper functioning of the engine.  In other situations, the issue may be more serious. In any event, it means a trip to the service center.

Two weeks ago, a few indicator lights activated on the dashboard of my Nissan 350-Z, including a Check Engine light.  The Z was a little difficult to start and the engine was operating below par.  Of course, I took the car to the Nissan dealership for service.

As I was the first person in line when the service center opened, my need was processed immediately.  In addition to the ‘Check Engine’ light, I asked them to check my air conditioner, as it wasn’t cooling properly.  The service attendant was courteous and efficient.  He printed a list of items to be investigated with a cost estimate for the diagnostics.

After completing the service order, I was directed to the customer lounge to wait for their evaluation.  The owners of this Nissan Dealership had recently completed a major remodel.  I suppose, remodel is not entirely accurate as they razed the old building to be replaced with a modern facility.  I was not prepared for the utility of the waiting room.  It is easily four times larger than the original.  The adjacent restrooms are larger and more presentable.

The new lounge is more like a WeWork or Industrious office center.  There are workstations and comfortable pit groups with over-stuffed chairs.  The dealership offers free Wi-Fi and an ample number of electrical outlets for computers or to recharge smartphones.  It is comfortable and well lit. An ample assortment of free beverages and snacks are provided.  They offer single-serve coffee service, with a wide selection of flavors.  There is juice, water and soda, packaged snacks, power/breakfast bars, and fresh fruit.  At some point, a few dozen fresh donuts arrived.  I passed on the snacks but enjoyed several cups of French Roast Coffee.  There is a big-screen television tuned to HGTV and another screen for viewing the work in the garage.  I was blown away by the new lounge.  It’s like a combination of Starbucks and WeWork. If I had known about the amenities available, I would have brought my laptop and stayed in the customer lounge until my car was ready.

Almost immediately after my experience with Regal Nissan, I called my friend and colleague Mark Grace. Mark is an industry expert and guru on customer experience. He has trademarked a term for customer experience called Experidigm (see experidigm.com and his eight books).  An experidigm is not just the product or service, but all the actions and feelings the customer might have related to the experience now, later, and as the product is integrated into their lives.  It was my intention to share this experience with Mark to learn if the Nissan Dealer is providing a competitive customer experience.  Also, as I thought it make an excellent blog post, I wanted to enlist Mark’s contribution, which follows.

Mark Grace

This is a great example of the shift from selling a product or service to delivering a complete experidigm of related customer activities. Yes, customer waiting is a major activity in the car repair business. Waiting is part of the experience. We’ve all waited for hours in a cold, damp, smelly, repair place staring at an ugly, cracked linoleum floor.  Compare that to Jim’s waiting, or should I now say, productive working experience. Jim might come back for more activities. The dealer could schedule quarterly events, to showcase new cars, accessories, or services.  There is a large list of activities the dealer can consider, some of which could become profit centers.

Today, consumers can choose from over a billion products.  The opportunity is integrating products and activities into a complete experience or experidigm. Brands that create experidigms, will acquire lifelong customers. Think Airbnb for staying overnight or Uber/Lift for getting from here to there – the complete experience is covered and growing larger.  Any product can be made into an experience. Customers create eperidigms by integrating the product into their lives. Brands can take the lead, increasing their profitability by enhancing the customer experience.  Let us show you how.

Thank you for visiting our blog.

Jim Weber – Managing Partner, ITB Partners

Jim Weber – Managing Partner, ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

Jim Weber – Managing Partner, ITB Partners

 

 

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Part II – It’s Not Who You Know, It’s Who Knows You! An Interview with Susan Knox of Corporate Connections

Susan Knox CEO Corporate Connections

Susan Knox of Corporate Connections and I have known each other for at least 15 years, maybe more. She is a tenth generation Georgian, born in Atlanta, with an exceptional reputation and network.  Although I have attended a few of her events over the years, we have operated at the periphery of each other’s networks.  For the past six months, we have connected much more frequently.  We found that our business models were complimentary.  After exploring the potential synergy, I became her client, and she became a member of ITB Partners.   That’s a topic for another post.  I am so pleased to have her on the ITB Partners Team as her business is unique and her personal story is most compelling.  In fact, I thought you would find her story so interesting, I convinced her to sit for an interview.  This is the second installment of our discussion.

Jim: “You said, ‘it’s in your ‘DNA,’ and that you’ve had experience hosting events.  How did you use that experience to create Corporate Connections?”

Susan: “Well honestly, it happened by default.   It’s great that it happened.  As a matter of fact, today I ran into Marvin Cosgrove who inspired me to start my business.  He was the president of the Buckhead Business Association from 1999-2000.”  

 “I was in the wholesale jewelry business for 15 years. I owned a company called The Regency Collection. I loved it!  But I saw that things were changing, as manufacturers were closing their factories in Rhode Island.  Many people don’t know that Rhode Island was the jewelry capital of the World.  But the factories in China and Taiwan started knocking off jewelry companies in the States.  I saw the handwriting on the wall.  I had an opportunity and sold my company in 1997.  

 “In 1999 I was asked to join the Buckhead Business Association Board of Directors.   One day I suggested that we hold a Buckhead Business Expo.   Marvin said ‘Okay, I trust you implicitly.’  So, I negotiated with Phipps Plaza to hold the event.  The objective was to promote the members’ businesses and to attract new members.   In 1999, there weren’t many places to go and ‘plug-in,’ as networking wasn’t what it is today. During the event, I was introducing people to one another. The members told me that I was better at introducing them then they were able to do for themselves.  Many said, ‘here is my business card, and here are my marketing materials.  We will pay you a retainer and a percentage of the deals you help us close.’  I had eight people (at the Expo) handing me checks in April of 1999, who wanted me to represent them.”  

“It was fascinating because Business Development was not a common term back then, it was either Sales or Marketing.   Coming from the Jewelry Business prepared me to do this (Corporate Connections).  In the jewelry business, we held marketing events. I loved the events side, selling jewelry to housewives with my mother and my grandmother.  It was so much fun.  So, I thought it be wonderful to do what I love and create a high-end relationship business.”

“Over the years, people have asked me, ‘how do you monetize connecting people?’  My significant other said, ‘you picked the hardest thing ever to get paid for.’  The difference is, I am very direct and intentional, very proactive, and not casual.  It’s my business model.  It’s what I do every day.  I really feel lucky to be where I am, because I have pounded the pavement, paid my dues and sat on boards.  I have volunteered, helped fund-raise for non-profits, held events in my home, and have done many others for people who want to raise money.  I think I am in the best place I can be in my life right now.”  

Jim: “So, I am familiar with your Board, from which you receive an annual membership fee.”

Susan: “That’s called the Network. Those are people I want to be a part of my business so that I can look out for you all; knowing that you are my go-to people for new connections and to make sure that you all know each other, my inner circle. ”

Jim: “Are you still in the business of helping people who come to you looking for introductions?”

 Susan: “Yes. I work on a monthly retainer (with those people) and there are certain deliverables that go with what I do.  But the basics are the same.  I publish a new client announcement to my network showcasing their businesses.  It is something I plan to do for all my members.    It is great exposure for you all as you are hand-picked, subject matter experts at the top of your game.”

“My clients are people who say, ‘Susan I really need serious business development efforts behind my brand.   I’ve got to get plugged-in.’  They may be starting a new company and need help building their business, or they may be new to Atlanta and have been referred to me.  They hire me for a couple of months, and I will put them on the map, providing direct access to people they need to know.  As you know, they could spend two years, having coffee (meetings), meeting people one by one.  Or, they can hire me, and I will plug them directly into the people they need to know, immediately.

TO BE CONTINUED…

Thank you for visiting our blog.

Jim Weber – Managing Partner, ITB Partners

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Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

Jim Weber – Managing Partner, ITB Partners

 

Posted on

Do You Plan to Achieve Your New Year’s Resolutions?

Goal Setting

It’s that time again! Time to make New Year’s resolutions.  I suppose I’m like most people who revel in the excitement of starting a new year. In many respects, the new year offers the promise of a new beginning or an opportunity for change. It’s fun to share New Year’s resolutions and I’m sure that we’re all serious about achieving our goals.  Regrettably, within a few months, most people have given up on their New Year’s resolutions. Business, on the other hand, is a different story. Companies don’t have New Year’s Resolutions.  They have a vision and objectives.  My experience is that a business is more likely to achieve its goals.  Why is that?

I talked with many people over the past few weeks and have learned much about their plans for 2020.  My friend Faith plans to start a supper club to explore new food dishes and to get back to the art of dining at home.  One of my Associates at ITB Partners has created a strategy to develop multiple blogs, monetized through advertising and affiliate programs. He realizes that becoming profitable may take as much as two years, but he is excited about his prospects.

I am working with clients who want to change careers in 2020. Some are between situations and have the flexibility to explore new options while others are gainfully employed but desire a better situation.

These conversations were most interesting. Of course, the most typical resolutions are about personal development; simplifying lives, losing weight, improving diets, and to follow a healthier lifestyle. Continuing education and developing new skills are also popular.  I also enjoyed hearing from those who didn’t have plans to change anything other than to do better executing their current strategies.

My favorite morning talk show host is changing his strategy to include more knowledgeable pundits who can talk from a strategic perspective. I have a few initiatives that I want to pursue, including a seminar program to attract more clients.

While preparing my thoughts for this post, I found an article that listed 20 goals for entrepreneurs in 2020.  Whereas the goals proposed are relevant for most, the focus of the article was on goal setting.  The article even recapped the SMART formula.  It didn’t devote any ink on how to achieve those goals.  Maybe that is part of the problem.

Exploring this issue over the Holidays, I reviewed my favorite YouTube and podcast channels. One point that resonated profoundly was made by James Clear, the author of Atomic Habits. He talks about making small, manageable changes that generate other changes, which cumulatively make a big impact. I like that idea. I like the thought of finding a linchpin to provide leverage for other goals.

Another point Clear makes is that one needs a system to achieve their goals. This opinion is shared by Scott Adams, the creator of the Dilbert cartoon.  Adams is much more direct as he says “goals are useless, without a system.”  I concur with this point; a system is required to achieve a goal. Another word for a system is routine.

I find this to be a valid perspective! It reminds me of my early career in strategic planning and analysis. The planning process we followed included strategies and tactics (a system) to ensure the desired result. We also established timetables and mechanisms to track our progress. It was a useful process that required serious thought about how to realize our goals. We had a system. Our focus was on executing the strategy.

This year, my primary resolution is to lose the ten pounds I gained between Halloween and New Year’s Day.  I am confident I will be successful, as I have a plan and a system to achieve that goal.  I have several important business goals for 2020 as well. I haven’t completed the plan to achieve those goals yet. However, as I consider planning one of my greatest strengths, I am confident that I will achieve those goals as well.

Thank you for visiting our blog.

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

Jim Weber – Managing Partner, ITB Partners

 

Jim Weber – Managing Partner, ITB Partners
Posted on

The Free Pocket Square

Pocket Square

I had arrived a little early for my luncheon meeting with an alumni friend. We get together about once a quarter to catch up, to discuss relevant issues about our university and the local alumni chapter.   It was a workday, so I was dressed in business casual attire; a navy-blue blazer, a white shirt, gray wool trousers, and black shoes.   My typical uniform.  As I had some time to kill, I decided to visit a nearby menswear store that I patronize from time to time.

 

I received a warm welcome from one of the staff members who gave me a general overview of the merchandise they recently stocked. He was helpful, in an unobtrusive way, giving me the opportunity to become familiar with their merchandise. As the season is changing, there are a few items I want to add to my wardrobe, so I wasn’t killing time entirely.

 

While wandering around the store another employee approached me and slipped a white pocket square into my jacket pocket. He complimented me on my appearance and said that the pocket square completed my look. I was pleasantly surprised by his action, thinking that he presented me with a gift. Well, maybe I was a bit confused as I didn’t take it as an overt attempt to make a sale.  His action created an opportunity for us to interact further as I continued to review their merchandise.

 

When it was time to go to the restaurant, I made my move toward the door, thanking the sales associates and promising to return. The associate who presented me with the pocket square, still in my pocket, asked if I would like to pay for the item. I had totally forgotten about it, especially since I had processed it as a gift. When I realized my mistake, I had to laugh.  It was a funny situation, although somewhat embarrassing. He got me! How could I refuse to pay for the pocket square?  I paid for the item, thanked them again, and went off to lunch. I’m a big fan of pocket squares so I am happy with the purchase.

 

Driving to my office after lunch, I thought back to the situation at the men’s store.  I had to laugh at myself again for missing the obvious point of his gesture. But something was nagging at me. I admit that it was a clever sales technique, however, it felt deceptive.

 

I may have been confused because no one has ever put an item in my pocket that wasn’t meant to be a gift. Typically, a sales associate will bring me an item, often a tie, to show me how it complements my jacket or suit coat. He wouldn’t tie it around my neck, but maybe drape it over my sleeve. If I showed interest, he might take me over to a mirror to see how the tie would look in relation to my shirt and jacket.  In those situations, I would hold the tie, folding it in a way that would allow me to bring it to my shirt collar to resemble my appearance if I were wearing the tie. I would manage this process, not the sales associate. During this time, he might talk about the item, speaking to the quality, the price, and how well it complements my attire.  You know, selling.

 

In my recent interaction, the sales associate didn’t tell me anything about the item or the price which failed to reinforce the act of selling the pocket square. OK, call me naïve, but I am confident that you would’ve reacted in a similar way if only for a moment.

 

I admit it was a clever technique if not a hit-and-run tactic. He made a small sale, and I do like the pocket square. However, I am not motivated to return to that location or to work with that associate. I hold no animosity toward him, but he didn’t create mutual trust and respect that would motivate me to return.

 

Often, it’s the little things that make the biggest impact. When working to build a relationship we should be mindful of our behavior.  We want to ensure that we don’t send any conflicting messages. Hit-and-run tactics will limit you to a low-level sales rut, with few return engagements. A lack of clarity or candor will inhibit the formation of relationships.  In that event, you may never have an opportunity to work with many prospects.  I may have returned to that store if the pocket square had been given as a gift, or if the sales associate had presented the item differently. I guess we will never know.

Thank you for visiting our blog.

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

Jim Weber – Managing Partner, ITB Partners

Jim Weber, Managing Partner

ITB PARTNERS

Jim.Weber@itbpartners.com

North Fulton Business RadioX Interview, September  26, 2019

Author of: Fighting Alligators, Job Search Strategy For The New Normal