Repeat Success is No Small Achievement

ThinkstockPhotos-503000012.jpgArnel Pineda never imagined that he would be fronting the world-famous rock band, Journey, when he began singing American rock songs with his friends’ band as a teenager.

For years his exceptional singing talent had been good enough to belt out songs with club bands doing parties, special events, contests, weddings, and regular appearances around the Philippines, Pineda’s home country. However, one evening Pineda was filmed doing his performance with a particular Journey song, “Don’t Stop Believin’.” The performance, as well as Pineda’s accuracy in singing the song so similar to how the original version was sung by the first Journey frontman, Steve Perry, shocked people. It also shocked the guitarist and an original member of Journey, Neil Schon, when he watched the YouTube video as well. One would think that the fairytale story ended at this point as Pineda rocketed to fame as Journey’s replacement singer. However, that’s not quite how things went.

Upping Your Game

Yes, Pineda could sing, no argument. And he did a darn good version of Journey as a bar band singer. However, the band made it clear to Pineda that if he were to be considered a serious contender for the real band, he would have to up his game. That meant singing all the original Journey songs to perfection.

It’s easy for the typical person to think this challenge might be doable. That’s because no one sees what Pineda had to go through to match every tone and every inflection that Steve Perry had done to make Journey’s songs famous in the first place. Unlike Perry, who could craft a new song with any version of voice he liked, Pineda had to duplicate the original to every single detail. It was a grueling process with Schon and company catching every mistake and pushing Pineda to reach the zenith of his ability. There were plenty of times Pineda wanted to quit as well, questioning his own talent. Fortunately, the Filipino singer realized his full potential and succeeded.

Success Can Be Hard to Repeat

This story is a classic case showing how hard it is to achieve success a second time once a standard or great performance has been achieved in the first place. In business, a one-time success is just that, a fortunate blip. When a business team can repeat the performance and do even better consistently, that’s a huge achievement. It proves that the success was not just good luck or a brief opportunity when things just fell into place.

Repeat success is the primary goal every business team strives to achieve. And it is extremely hard. Conditions change, markets fluctuate, customers move to new interests, team members leave and get replaced. All of these factors and more change the mix in how successful a team can be. To overcome these changes and repeat the success is really the higher level of performance that pays big with rewards when it can be achieved.

Not Just for Entertainment

Think Pineda’s story is just something that happens in the entertainment world? Look at Apple after Steve Jobs passed away. The Apple team lost a core resource in Jobs and still had to find a way to keep Apple growing and succeeding even more than what Jobs had achieved with the company. CEO Tim Cook and company did exactly that, but it was a huge challenge to fill Jobs’ shoes year after year since his passing. In many ways, Cook had to perform just as hard a Pineda to repeat a success and make it better. So the next time you see a repeat success story, don’t dismiss it so quickly. It’s frequently much harder to succeed a second time versus the first.

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From Small Things Come Big Changes

ThinkstockPhotos-470778170.jpgPierre Omidyar didn’t plan to start a mega-corporation in the late fall of 1995. In fact, all he wanted to do was get rid of some computer equipment he had laying around by selling it through a digital garage sale. However, once he realized how popular his simple web page started to become, and the fact that he could charge a fee for folks to use it, eBay was born.

In three short years, the eBay online auction concept went from a private website to a viable business that quickly began to explode. Omidyar had hit on what many in business invention call a “primal need,” something that everybody needs and doesn’t yet exist.

With the help of Jeff Skoll, Omidyar brought in Meg Whitman, the same Whitman who later ran for California’s governor, and corporate eBay took off. By 1998, eBay had gone beyond just selling used and collection items and was quickly becoming a viable brand name for online selling in general. The model continues today and competes directly against regular retail selling.

Seeing What it Could Become

The key aspect of Omidyar’s success, however, was not Whitman and her corporate choices of personnel, nor was it the smart linkup with PayPal to make eBay’s payment processing extraordinarily fluid and easy for customers. Omidyar could see that he had something valuable and, if given the resources, what it could become. This key talent is what makes the difference between inventors and idea people who never quite achieve success, and people like Omidyar who realize what seems to be impossible starting out.

Omidyar had a number of essential factors present and working in his favor:

  • Again, the primal need for an online auction platform or similar garage sale digital tool was needed.
  • Second, it could be easily accessed by anyone who wanted to participate and pay the fee.
  • Third, the tool was easy to use and produced immediate results and rewards for those using it.
  • Fourth, and most important, no one else was making the same idea happen successfully at the time.

Without these elements in place, Omidyar’s personal website might have made some small cash and even generated a small following, but it would not have turned into the worldwide corporation we know as eBay today.

Finding Ways to Make it Grow

Some explain the opportunity as a momentary blast of good luck or fate, and others argue it’s the genius of the person involved producing some incredible new service or product. In reality, eBay is neither; it is a product of Omidyar being able to see the promise of an idea and finding ways to make it grow and become more useful, accessible, and popular.

Ebay expanded and became a household name because the company took every opportunity to follow the four principles above in its business strategy. That constant commitment to creating value in a brand is why people keep coming back to eBay as a service some 20 years later, regardless of what the internet and technology have provided since.

If you need help creating value in your brand, we’re here to help. Give us a call today!

3 Signs to Help You Identify if Your Market is Changing

ThinkstockPhotos-495668090.jpgSo much of your marketing success depends on your ability to get the right message in front of the right people at exactly the right time. To accomplish this, you need to know your audience – and the market that they inhabit – as intimately as possible.

But what happens if one day, suddenly and without warning, that market begins to change? Worse yet, what happens if this trend started while you weren’t necessarily paying as much attention as you should have been? The answer is both unfortunate and straightforward: you’ll be stuck playing “catch up.”

This is a situation that you do NOT want to find yourself in. Here are a few key signs that indicate a market change may be taking place.

Product Innovation Is No Longer a Key Value Driver

You’ve worked hard to build a robust and stable business and nobody offers what you do in quite the same way. You’ve had a tremendous amount of success relying on this type of innovation up to this point as a result. However, if things start to shift in the opposite direction, you may be looking at a market change that you’ll want to adapt to as fast as you can.

Simply put, product innovation – that is, the quality of what you do and how you do it – should always be the key value driver for your business. If you start to have to fall back on things like your prices, the reputation of your brand, or simply your ability to “out market” your competition, it’s likely that your audience is reaching a maturity level that will represent a challenge in the future.

Look to Your Competitors

Competitors are not always a hurdle to be overcome. Oftentimes, they can be the “canary in the coal mine,” so to speak, especially in a situation like this one. Take a look at some of the leaders in your industry, especially competitors that are larger than you are. What are they doing? Are they growing or retracting? Are they doing something that nobody else is doing because they can see something coming down the road that nobody else does? Keeping an eye on the health of your larger competitors can be a great way to stay ahead of the larger market trends that may be right around the corner.

Listen to Your Customers

Ultimately, the most important thing you can do to identify signs that your market may be changing requires you to see your marketing strategy as a two-way street. You’re not just communicating with your audience; your audience is also communicating with you. If you’re having a hard time getting solid insight into the direction of your industry and market alone, cut out the middleman and go right to the source: ask your audience what they see as their future needs in the areas you’ve dedicated yourself to serving.

Send out surveys or questionnaires asking for raw, honest insights into the questions you’re asking yourself today. Take a current client or customer out for dinner and ask them what they see for the next five or even ten years in your industry. Never forget that without these people, your business wouldn’t exist – so it’s in your own best interest to listen to them as often as possible.

Want to Be Successful? Take Time to Dream

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One of the most famous dreamers of our time is Steve Jobs, the Co-founder and CEO of Apple, an iconic visionary who believed so deeply in the power of his dreams that he was able to bring them to life for millions of people. Jobs believed that the era of mediocrity was over and that you should put in the work on every project to make it great. His famous recommendation to a Disney retail executive to “Dream bigger” when it came to Disney stores resulted in a new type of store experience that continues to delight children of all ages. How can you leverage these same tactics and take the time to dream big in your own life?

Dream Fearlessly

Individuals often lose confidence in their dreams because everyday reality creeps in and has a way of tamping down your passion. Big dreamers are different. Even if you think they’re relentlessly optimistic, it requires constant hard work and commitment to make dreams come true, and a fearless need to be successful.

Believe in Yourself

Constantly second-guessing yourself doesn’t leave a lot of time for forward movement, making self-confidence a critical requirement for living your passion. You have to identify every element of your vision down to the smallest detail, and then break it down into the small steps required to make it happen. Professional athletes are very familiar with this concept, as they are coached to visualize making a basket, getting a hole in one, or nailing a complicated gymnastics floor exercise.

Take Action

Dreaming is great, but once the dream is solidified it is time to begin moving! Harness your beliefs and stay focused on reaching your goal. There will be others who will support you along the way — great! There will also be those individuals who are constantly looking to undermine your skills, your ability, and your passion. Graciously ignore them, and keep taking steps to move your dreams forward into reality. Pausing too long to consider the consequences can often result in a missed opportunity, which may not come around again.

Compete to Win

Successful dreamers are by nature quite competitive. They’re always looking around for how their competition is doing something and finding a way to improve upon the concept, or better yet — revolutionize it in their own way. Solving problems for your customers is a daily devotion, allowing you to rise to any challenge and overcome it as you follow your dreams.

Leave Space for Dreaming

What can you stop doing (immediately, next week, in six weeks) that will free up additional time for dreaming? It can be incredibly difficult to fuel your passion when you’re so caught up in everyday activities and overall busyness that you aren’t able to stop and think. Actively look for ways that you can create space in your daily activities that provide a block of time in which to think about the future and how you’ll get there. Your future self will thank you!

Finally, and perhaps most importantly, persevere. When things don’t work out exactly as you had planned — keep going. Remind yourself that nothing good comes overnight, and success can take years to achieve. Stay resilient, be patient and keep dreaming!

3 Gems for Small Business Owners from Jack Ma

ThinkstockPhotos-637152312.jpgAt a recent business leader meeting put on by American Express, Jack Ma from the Alibaba Group was the guest celebrity speaker. The reason why was that Mr. Ma was invited to share a bit of his wisdom and advice, particularly to small businesses. American Express has been maintaining a campaign of supporting and driving sales to small businesses to help them grow nationwide.

A Little Bit of History

Jack Ma did not come from well-established roots like, for example, President Trump. Ma was born and raised in mainland China, competed against thousands of others for a rare spot in the Chinese university system, and could not find regular employment many times. Then, with a spare moment of luck, he was exposed to the internet and realized nobody had catered websites to the Chinese. From there, his success took off, most notably with Alibaba.com.

Simple Gems of Advice

In his speech, Mr. Ma focused his advice to small businesses on three points:

  1. He advised business owners and those considering the venture to find out why businesses fail. Schools typically only teach success stories, but it’s critical to know what causes some people not to succeed to avoid the same mistakes.
  2. Business owners should listen carefully to their next-door neighbors. They are, literally, average consumers who can tell a business owner a library of secrets about what a consumer actually looks for when shopping. The problem is, people tend to avoid their neighbors thinking they’re too nosy. It’s an opportunity missed.
  3. Small businesses should “fix the roof when the sun is shining.” It’s an analogy that essentially means a business owner should be making changes and additions when things are going well. When things are rough, or there’s a major challenge, it’s not the time to be spending energy and money on fixes. Get to a good point again before thinking about changing operations or adding to costs.

Get Out of the Weeds

A lot of what Mr. Ma provided in his speech may seem like common sense for small business owners, but it’s hard to focus on thinking strategically when one’s head is buried deep in just trying to make it through the day. This is why his advice is so important; it reminds business owners to take a moment once in a while to get their head out of the weeds and think in terms of running a company again instead of momentary crisis management. In Ma’s opinion, smart and successful business owners are looking, learning, and timing their decisions with the best opportunities. And, they are not ignoring the best sources of business lessons when they become available.

If You’re Not Already Blogging, Now Would Be an Excellent Time to Start

ThinkstockPhotos-626669886Many people fail to realize just how important blogs are to a successful business because they still think about what blogs used to be. In the early days of the internet, many blogs were essentially “live journals.” If you wanted to read about what a trendy high school girl was having for lunch with her friends, she probably had a Blogspot blog that would let you do just that.

But today, blogging has become much more powerful and is one of the best ways to connect with your target audience.

The Power of Blogging: Breaking It Down

It’s been said that an incredible 79% of shoppers spend half of their shopping time researching products on the internet. While it’s true that product pages, technical specifications sheets, and other resources are important, users are also gravitating towards something much more human and valuable – blogs.

Think about the things that the right blog allows you to accomplish. First, it lets you dive deeper into certain topics, products, and services more than you ever could on a traditional product page.

Blogging is also a great way to position yourself as a thought leader in your industry, regardless of what that industry happens to be. It’s a chance for you to show that you really can walk the walk in addition to talking the talk, which ultimately helps build brand loyalty over the long-term.

Blogging, in general, also has a number of clear advantages over other forms of communication when it comes to engaging with your audience, as illustrated by these stats:

An Easy Way to Expand Your Reach

Remember, your blog is not a silo. The content that begins on your blog will ultimately make its way across social media as your users begin to share it, thus bringing more people back to your website over time.

Blogging can also help tremendously with SEO and search engine visibility. One of the factors that Google’s algorithm looks for when determining rankings comes down to how often a website is updated. If you publish one high-quality piece of content to your site every day, guess what? That counts.

Nobody is saying that blogging is the ONLY technique you should be using to connect with your audience. In truth, your long-term success will come down to you employing as many techniques as you can in order to further your quest of reaching the right people at the right point in their purchasing journey.

Why Patience is One of the Most Important Qualities a Leader Can Have

ThinkstockPhotos-624713098.jpgThe chasm between a leader and a great leader is a deep one. It is one that is often filled with qualities like clarity, decisiveness, courage, passion, and a healthy amount of humility given the circumstances.

But one of the major qualities that is essential to leadership that people don’t talk about nearly enough is patience. When patience is practiced wisely, it can have a dramatic effect on your entire organization from the top down.

The Ripple Effect of Patience

In general, patience is more important than just being willing to wait for results. Yes, all people are different and employees need to be given room to move at their own pace for the sake of quality. But, the true benefit of patience runs much deeper.

First and foremost, patience shows respect in a way that also encourages productivity at the same time. If you’re the type of leader who delegates responsibility but then spends hours each day telling people to “hurry up” or to “get things moving,” ultimately all you’re really doing is creating frustration or fear in an environment where you can afford neither.

Being willing to wait for someone to work at their own pace shows an employee that you value their overall contribution to the larger organization. You didn’t just choose any person for this job; you chose the right person for the right job. Sometimes, that takes a little more time than you’d like, but that is perfectly fine. Patience is also an important acknowledgment that every person progresses at a different pace. If you’re up in arms every time someone takes a little more time to complete a task, what you’re doing is communicating that they’re not as good as someone else when given the same responsibility.

Patience Also Says a Lot About You, Too

Being patient with others isn’t just about your employees – it also speaks volumes about you. When you’re constantly working from a place of “I needed this yesterday,” all you’re doing is artificially inflating the stakes of the business you’re trying to run. You’re not making considerate decisions; you’re making ones fueled by little more than raw emotion and a ticking clock.

Patience shows that you’re the type of leader willing to stop and let things breathe for a moment. It shows that you’re willing to listen and consider all variables before making a thoughtful judgment about what to do next. It shows that you’re not the type of person to make snap decisions that you’ll later regret and that your employees shouldn’t be willing to settle for that, either.

These are just a few of the many reasons why patience is one of the most important qualities a leader can have. It’s also important to remember that you need to be patient with yourself. Patience is a virtue, yes, but it’s also something of a discipline. You’ll need to acknowledge the importance of patience and the role it plays in your business so that you can grow into the type of leader who no longer has to make an effort to be patient with others. Instead, it will become an afterthought.