Articles Tagged ‘Decision-making’

The Five Decisions

Wednesday, June 15th, 2011

Tough decisions and business go hand in hand. Having many options of what to do, which path to follow, can make any corporate executive second guess the right decision for his or her company. Just making one bad choice, bad business partnership, bad product launch can heave the company down a undesirable course.

The right decision today may be the wrong decision in five years. Many times these “tough decisions” evolve over time. Being aware of your company’s BIG PICTURE while making these decisions is a must. Being committed to the decision – being clear, concise and having the employees buy-in to the chosen course will keep you from being lost in a sea of vagueness. In today’s marketplace having a vague purpose will take you down as fast as a cheetah taking down an antelope. Not good!

5 Major Sales and Marketing Decisions:

1. Who is our ideal client?
After you’ve made that first sale, continue to analyze your customers and potential clients. Research their demographics as well as where they are located. Know their psychographics – what do they like to read? Do they own a pet? Do they spend their money on new electronics or are they savers? Pay attention to the purchasers who “refer to a friend,” pay their bills on time, blog about their great experiences, advise on improving your services and even purchase from your business partners. Studying this information, knowing who are your customers will help you decide who are your “best” customers. It will help you decide if you need to adjust your target audience.

Many small business owners whom I work with as a business coach understand that there are big decisions in the marketing process. For others, it’s hard for them to believe that in the business to business world this process is reachable. They don’t believe that this business intelligence is obtainable or they choose to only focus on the immediate gain. They forget that by studying where they’ve been (former purchasers), they will see a big pay off where they are going (the best purchasers). Corporate American hungers for the business intelligence that is cutting-edge, progressive and genius. It hungers to leverage the new sales, marketing, promotion and cost-saving tactics that develops in the small business culture.

2. Why do people work with us?
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Knowledge is Power

Thursday, April 21st, 2011

I had lunch with an extremely talented CEO the other day.

It was the first time that we had met and as I often do in these meetings, I asked him about his background, both personal and professional.

Throughout our conversation, he talked about a handful of lessons that had shaped his career and led to his success. These lessons often came from a mentor or a good book.

What I found interesting (and typical for most of the highly successful people I have met) is that he attributed most of his success to a handful of very simple lessons that he had learned over a 30-year career. It was these “turning points” in life that provided him with the knowledge and confidence to achieve his dreams.

The same is true for each of us. Our success if is a direct result of the decisions that we make and the decisions we make are based upon our knowledge and experience. Thus, the better your knowledge, the better your decisions and ultimately your results.

Unfortunately, most people undervalue learning. As you probably know, the average adult reads less than one non-fiction book per year.

As a society, we have convinced ourselves that we are too busy to learn.

I would argue that our ability to process and interpret information is a key competitive advantage in a commoditized world.

What are you doing to improve yourself?

C.J. McClanahan
Reachmore Strategies
317-576-8492
cjm@goreachmore.com

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