Along with millions of Americans, I’ve been avidly following the 2016 election process. It’s been a wild, turbulent spectacle, and has commanded everyone’s attention.
We’ve seen how one man took the entire political system and threw it into a complete frenzy. I’m referring, of course, to Donald Trump.
Now, don’t worry – I’m going to steer clear of the political arena, and in no way is this an endorsement. However, I feel there are always valuable business lessons to be learned from current events.
Agree with him or not, there is no denying that Trump has positioned himself as the odds-on favorite to win the GOP nomination. To many, this has been nothing short of an astonishment. Astute businesspeople will notice, however, that he has simply applied a couple of basic, winning business concepts to his campaign:
Reid Hoffman (no relation), co-founder of LinkedIn, has a famous quote which resonates with entrepreneurs:
“If you are not embarrassed by the first version of your product, you’ve launched too late.”
It’s a simple but revealing maxim. And, truth be told, it’s one not reserved for entrepreneurs orbusiness owners, but applicable to every single one of us.
Many people tinker and re-tinker with their assignment, their product or their business – all in the name of “making it perfect”. In reality, though, that perfectionism is just procrastination in disguise.
The reason people procrastinate?
It’s no secret that I’m a big fan of building company culture.
Showing your appreciation to each employee is critical. Countless studies show that positive employee engagement will impact a business’s success. Successful leaders can build a workplace culture that gives their company a competitive advantage.
So this past Chanukah, I decided to demonstrate my appreciation to the hardworking team at Ptex Group – but in a slightly different way than in previous years.
I quietly created a special Chanukah Goody Booklet for each employee that was mailed directly to their home. Inside the booklet were various gift options for our employees and their families to choose from.
To make all this happen, I had to take a little trip down to a place that most people dread: the post office.
We all know what a nightmare the post office can be. Long lines. Confusing signs. Gloomy decor. Apathetic workers. Even longer lines.
My experience this time was no different.
After months of planning, the stage is set for the highly anticipated #LTB2015.
It’s bright and early here at the Rockleigh, but a steady flow of guests is streaming in. Guests might not have had their early a.m. coffees yet, but the energy is electric.
It’s a privilege to be blogging to you LIVE throughout the day.
I had the privilege of speaking to a group of retail business owners last month. We discussed a variety of different topics and I explained how it could help them make their businesses more profitable. One of the more interesting points of the evening was very well received and I felt it was worth sharing.
It’s something that you’ll benefit from, even if you’re not a retailer. So I’ve decided to email you the basic details and hope you’ll make use of it in both life and business.
I began my talk by asking the audience this simple question: “We all know what selling is. But do you know the difference between selling features and selling benefits?”
There were a few good answers called out by the attendees, but none were entirely accurate. So here is what I told them.
People, by nature, are always asking themselves: “What’s in it for me?” Whether it’s a potential customer, a boss, a child, or a friend you are interacting with – they’ve often got their own interests in mind. No matter what you’re trying to get them to agree to, they may resist your advances. So you’ve got to make a little sales pitch of sorts. You can choose to sell them on the features or you can choose to sell them on the benefits.
Here’s the critical difference.
The Big Apple has been turning rather sour lately.
In the most recent showdown between the New York Police Department and Mayor Bill de Blasio, hundreds of uniformed police officers publicly turned their backs on the mayor as he delivered a eulogy during the funeral ceremony of Officer Rafael Ramos.
I’ve spent my entire day listening to acclaimed political pundits from both sides of the spectrum debate the underlying causes of this rocky relationship, argue whether aggressive policing tactics are a concern of reality or perception, and squabble over the possibility of reducing tensions between police departments and the communities they serve.
Frankly, the pacifist in me is getting nauseous.
The reports of Black Friday’s death have been greatly exaggerated. I’ve borrowed Mark Twain’s famously derisive line to challenge the media’s contention that Black Friday is losing its luster.
Yes, I know that folks are claiming Black Friday sales were down 11%. But I don’t buy it (no pun intended). Take a closer look and you’ll see these numbers are skewed. While the value of an average online order did indeed drop by 1.8% compared to last year’s figures, actual online sales increased by a whopping 9.5%.
So you tell me: Is Black Friday a failure? Hardly!