This week my 5 favorite business and strategy post cover:
- It’s all about growing your business… here’s the how to do it smartly.
- What’s old is best again… networking 1980’s style.
- Don’t call it a comeback… 4 steps for reviving an ailing company.
As, always I’m looking to share with you quality information that helps increase your business development skills, enhance your level of business model innovation, and ultimately the quality of your professional relationships.
If you enjoy my weekend summary and would like even more practical, useable links than the five I highlight here every week, follow me on Twitter @DonaldMcMichael.
Good stuff I discovered this past week:
The first-mover advantage doesn’t seem to exist. According to this post on Innovation Leadership Network if your a business leader don’t think let’s be first to market, instead focus your resourced on determining if you can be the first to scale a successful concept. Why is this important? It let’s you accelerate into the growth stage of the product cycle faster and thus potentially capture a lion’s share of the market as they discover the new product.
Not all customers are good for business. Some say as many as 20% of those you service and over 50% of those who are exposed to your marketing efforts. The question for you is: Do you know which? in fact this post takes it further and says that you need to analyze your data to determine what attracts, satisfies, and retains your best clients.
Jump-start the creative process. Hey mister CEO did you ever thing about running your company as a startup? Yea… you can do it while satisfying Wall Street’s desire for steady quarterly growth. This post highlights how you can help make both the consistency and innovation sides thrive, and most importantly co-exist.
Melanie Rembrandt lays out 5 compelling reasons why you need to pickup the phone and make a call… not text or email. I knew that if I waited long enough my original networking skills, face-to-face and phone, would be of utmost value. It’s all about using a blend of mediums to build quality connections that provide mutual support.
Four steps for reviving an ailing company. Here’s how real leaders come from behind and win. Their number one asset is an understanding that organizations have their ups and downs as they travel along the business life-cycle curve. Their knack is knowing when to jump the organization to a new curve or playing field.