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Oh, the Places You’ll Go!
Posted in Best Practices, Executive Insights
Congratulations!
Today is your day.
You’re off to Great Places!
You’re off and away!
You have brains in your head.
You have feet in your shoes.
You can steer yourself
any direction you choose.
You’re on your own. And you know what you know.
And YOU are the guy who’ll decide where to go.
Oh, The Places You’ll Go! by Dr. Seuss is the ultimate graduation story. It encapsulates both the joy and the terror regarding graduation, from the parent’s point of view.
One of my best friends has two children who are graduating this year. What is ironic is how different the two celebrations are. Her youngest son is graduating from high school, and they are celebrating in a big way. His grandparents are coming in town for the ceremony. My friend and her husband are hosting a party and inviting all of her son’s friends and many of their own friends to come celebrate with them. They ordered special decorations and a custom cake to commemorate the occasion.
Her daughter is getting her Master’s degree. To celebrate, my friend invited a few family members for dinner. Her daughter didn’t even attend the graduation ceremony.
What is particularly ironic is that virtually all of the kids in our community graduate high school, but it is truly an exceptional accomplishment to earn a Master’s degree. And then it hit me; graduation celebrations are not about celebrating accomplishments, as much as they are about motivating children for the future. The hope is that we, as parents, can still motivate our high school graduates to do well in the future. The graduation celebration reinforces the idea that if the young man steers himself in the right direction, he will be rewarded for his efforts. A parent may (or may not) be able to influence an 18-year-old to behave according to certain standards, but by the time someone has earned a Master’s degree, it’s clear that he or she is internally motivated to succeed.
In Great By Choice, Jim Collins suggests that unsuccessful parents and bosses have one thing in common—demotivation. I recently attended a conference for senior Public Relations Counselors and David Baker reinforced this concept when he said, “Quit trying to motivate employees–it cannot be done. Motivation is an internal force. You can, however, demotivate them. If you’re doing that, stop.”
According to Collins there are three main ways for managers to demotivate employees:
- Hype – failing to acknowledge the real difficulties the organization faces.
- Futurism – being obsessed with distant goals or visions without keeping an eye on the present.
- False Democracy – inviting employees’ input when the leader has already made a decision.
One of the best articles I saw about how to demotivate your staff is by Wayne Mates. He suggests five factors:
- Set unrealistic expectations
- Waste their time
- Create constant fire drills
- Treat them as expendable resources
- Don’t share the wealth
On the other hand, celebrating our employee’s successes may not be a true motivator, but it certainly makes for a better work environment.
And in honor of my friend’s daughter, Mazel Tov! You should be proud of your accomplishments.
I know I am.
Build on your strengths
Posted in Executive Insights, Integrated Marketing (IMC)
It’s a classic scenario. Young “Susie” is great at English, but struggles with math. What do we typically do? We get a tutor or extra help to improve her math skills.
Everyone should have a minimum level of proficiency in basic math skills, but instead of forcing Susie to “get” math, I think we should pour fuel on her passion for English, build on her strengths and simply accept she’ll need help with math.
The same can be said for business. Stop focusing on your weaknesses, recognize what you’re great at and do more of it. Hmmm, sounds a lot like the serenity prayer.
I often think about a parenting class we attended shortly after our first son was born, more than 20 years ago. The teacher began by asking all parents of “average” children to raise their hands.
Obviously, not a single hand went up in the air.
We all think our kids (insert our job, our business, our lives) are “above average.” He went on to suggest average isn’t bad, it’s just the middle of the pack. These days, I often say I aspire to average, particularly when receiving reports on my health!
The teacher continued to explain that if your kid loves making music … or being entrepreneurial … or is fascinated by history, well, give them more of that. Ignite those embers!
The reality is that all of us are truly “average” at most things, but we’re all “above average” on some things, just as we are “below average” at others.
A simpler approach to growing your business
We used to start with a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis. Think differently – focus on the S and skim over the rest. Our foundation positioning philosophy is Think Excellence, Not Difference, which is diametrically opposed to traditional marketing thinking that espouses differentiation and niches. So you can see, I’m used to thinking differently.
My goal for my business is focus on what we do great, and work toward making ourselves even greater. For example, our clients appreciate our holistic integration of all marketing and communications touch points – so, let’s do more of that!
We know our strengths and we build on them. It’s the most effective strategy to grow a business, just as it’s the best approach to helping your children succeed.
I never could hit a curve ball. I stopped playing baseball in seventh grade.
My stick figures barely represent people. I try not to draw in public.
But we’re pretty darn good at helping our clients clarify their messages, connect with the people who matter most, and change opinions and behaviors.
Do what you do best, and you’ll not only be more successful, you’ll have more fun along the way.
Onward and upward.
Tagged Eric Morgenstern, Executive Insights, Morningstar Communications, strengths | 1 Comment May 10, 2012From Mad Men to Executive Women
Posted in Executive Insights
As a big fan of AMC’s Mad Men, I am pleased to see how the show addresses the rise of women in the workforce and the changing roles of women in the late 60s. This week’s episode showed Megan demonstrating her chops in the creative arena with the idea that saved the Heinz business, and I especially appreciated Peggy’s wholehearted praise for Megan’s success (since women in the workforce are not always so good about supporting their corporate sisters).
Yet, two stories I read just today demonstrate we still have a long way to go to achieve equity in the workplace. The HBR article “Nice Girls Don’t Ask” leads with the fact women still, on average, make less than men for the same work and are under-represented in top jobs. It accounts for part of this disparity because women don’t ask for what we want and don’t negotiate. It then goes on to encourage managers to coach women to develop these critical skills. Here, here!
Monday’s Wall Street Journal featured a story on how more women are queued up for CEO positions with corporations in the coming years (although they only highlight 10 women in the story, which underscores the need for more progress) than ever before. Thankfully, businesses are beginning to realize they need women in leadership roles, especially with some fairly recent data emerging, like the fact corporations with at least three women on the board deliver a higher return on investment. And initiatives like the Win|Win campaign spearheaded by the Central Exchange in Kansas City help by enlisting large corporations to commit to increasing gender diversity at the executive leadership and board level.
So, while we’ve made strides since the era of Mad Men, I’m guessing if Sterling Cooper Draper Price were around today, women would be under-represented on the executive team.
Tagged Executive Insights, Leadership, Morningstar Communications, Sheri Johnson, women’s business issues | Leave a comment May 1, 2012Extraordinary Bosses
Posted in Best Practices, Executive Insights
Photo courtesy of www.huntingtoncopper.com
Engagement and fulfillment at work are fueled by a variety of factors. For most of us, it’s a combination of the work we do and the people we do it with. My philosophy is to do good work with good people. It’s pretty simple.
So much of the office experience is colored by the relationships we have with our co-workers. We all know the things that make for a difficult workplace, no need to even touch on them. And we have a pretty good idea of what makes a positive working environment and the importance of strong leadership.
Inc. Magazine identified eight core beliefs of extraordinary bosses. My favorite is No. 5 – Management Comes from Vision, Not Fear. The mark of an extraordinary boss, according to this list, is “inspiring people to see a better future and how they’ll be a part of it. As a result, employees work harder because they believe in the organization’s goals, truly enjoy what they’re doing and (of course) know they’ll share in the rewards.”
It’s so simple, but not often practiced. Once you’ve had a chance to read the article, let me know what you think. How does your organization measure up? If you have an extraordinary boss, doesn’t it make all the difference? I’d love to hear some of the things your extraordinary bosses do to enrich your workplace.
Tagged extraordinary bosses, Morningstar Communications, Rachel Spear, vision | Leave a comment April 24, 2012One Billion Dollars
Posted in Executive Insights, Social MediaIn Austin Powers: International Man of Mystery, Dr. Evil threatened to hold the world ransom for… $1 million. Because Dr. Evil was thinking in terms of 1960s economics, he thought he was asking for a huge amount of money.
Today, it’s not $1 million, it’s one billion. Yesterday, there were three large transactions in the communications field — each worth about $1 billion. Cerberus bought a majority stake in AT&T’s Yellow Pages business, Microsoft bought 800 patents from AOL, and Facebook purchased Instagram.
On the surface it appears as if each of these transactions was over-valued, especially to those of us who weathered the 2001 Telecom crisis. However, if you dig deeper you can see the logic behind each deal. Daniel Gross with the Contrary Indicator wrote a great analysis about why these deals made sense.
Cerberus is a private equity firm. Their primary focus is on making cash now, not for the long-term. And as hard as it is to believe in today’s world, there are still people who rely on the Yellow Pages as their primary source of information when they are considering making a purchase. In 2011 AT&T’s Yellow Pages had EBITDA (earnings before interest, taxes, depreciation and amortization) of about $ 1 billion.
Microsoft has accumulated quite a bit of cash from its legacy business – to the tune of $19 billion dollars, and more is flowing into the company on a daily basis. Most likely the move to buy the patents is defensive. Microsoft may use the patents to further its own business, but their primary value is keeping the patents out of their competitors hands.
Daniel Gross called Facebook’s purchase of Instagram a “bolt of youthful exhuberance.” In Barbara Ortutay’s article she quoted Webush analyst Michael Pachter. He said buying Instagram, not only eliminates a rival but gives Facebook technology that is gaining traction. Facebook believes that it can turn the 30 million users of Instagram into revenues and profits. In fact, it’s not quite right to say that Facebook paid $1 billion for Instagram, because a significant portion of the transaction is in Facebook stock, which doesn’t even trade yet.
So are these deals overvalued? To me it feels a lot like it did in 2001, just before the first technology bubble broke, but I’d like to think that we have learned from our mistakes the last 11 years. Perhaps, in the not-too-distant future we will all laugh about how small $1 billion dollars is.
Tagged AOL, AT&T, Barbara Ortutay, Daniel Gross, Facebook, Instagram, Michael Pachter, Microsoft, Morningstar Communications, Shanny Morgenstern, Yellow Pages | Leave a comment April 10, 2012Just another reason I love vacations
Posted in Executive InsightsI somehow was lucky enough to enjoy two vacations abroad in the first quarter of this year. And although I took some significant ribbing about it, I admit, it was lovely to unplug, relax and enjoy the history and culture of the very different destinations.
The side benefit I didn’t realize until I returned was how much getting away allowed me to be more productive at work when I jumped back into it. Just in the last week I’ve spoken to at least a half-dozen friends and business associates who expressed feelings of being overwhelmed at work, too busy to focus and burned out. In an era where we are all pulled in so many different directions, both at work and home, feeling overwhelmed seems to be an ever-increasing occurrence, especially when we take work with us on our smart phones wherever we go.
If you read my infrequent posts, you know I’m a big fan of HBR, and just this week I found two articles specifically addressing the issue of focusing and improving productivity. I especially liked Tony Schwartz’s blog about doing one thing at a time (with advice that includes taking regular and real vacations, so I am doing something right!).
Interestingly, the other post is from several years ago, but was trending as one of the most commented on stories in the last 24 hours, and it speaks to the ignore list. I like that thought. What can you cut out of the long list of tasks so you can focus, get all the important things done and still find time to re-energize? And, hey, if your ignore list includes skipping reading my blogpost, I hope it’s because you’re planning a get-away!
Tagged Morningstar Communications, productivity, Professional Development, Sheri Johnson, Strategic Communications | Leave a comment March 27, 2012Your Favorite Store
Posted in Best Practices, Executive Insights, Integrated Marketing (IMC)One of the cornerstone principles at Morningstar Communications is Think Excellence, Not Difference(TEND). In fact, here is an article that Eric published in 2004. The TEND philosophy is based on the fact that consumers don’t make their buying decisions because of a Unique Selling Proposition – consumers decide what to buy based on who they believe will satisfy their needs the best. As marketers our job is to determine how our clients and customers define excellence, figure out a way to provide it and then communicate our message of excellence in a proactive and integrated way.
United Parcel Service’s ‘What Can Brown Do For You?” is an excellent example of putting the TEND philosophy into action. All State has been using the “You’re in Good Hands” slogan for more than 60 years. And the latest proponent of the TEND philosophy is jcpenney.
My sister-in-law, is an assortment planner for the top-selling Worthington line at jcpenney. She sent me their new catalog to get my reaction and I am honestly blown away by how well it was done. The look is clean, and bright and exciting without going over the top or being too cheesy. The copy is absolutely terrific. I love how jcpenney has simplified its pricing strategy.
According to Second Wind, “the new brand strategy, is solidly based on consumer research regarding how jcpenney’s middle-class shoppers actually shop. Research revealed that only one in 500 items sold at full price, and 72 percent of revenue came from merchandise sold at 50 percent off or more.”
In her Forbes article about the jcpenney rebranding Sarah Heller wrote, ”It’s refreshing, daring and probably exactly what the retailer needs. It’s probably what a lot of retailers need but few have the leadership and support to do it.”
When Ron Johnson, CEO of J. C. Penney Company, Inc. said “We want customers to shop on their terms, not ours,” he truly was embracing Think Excellence, Not Difference.
Tagged Forbes, JC Penney, jcp, jcpenney, Morningstar Communications, Rebranding, retail, Ron Johnson, Second Wind, Shanny Morgenstern | 1 Comment February 21, 2012The Butterfly Effect
Posted in Best Practices, Executive InsightsIn chaos theory, the butterfly effect is the sensitive dependence on initial conditions; where a small change at one place can result in large differences someplace far away later. Edward Lorenz claimed that a butterfly flapping it’s wings in one part of the world could determine if a hurricane happens in another part of the world.
In my case the butterfly effect started with an earthquake and ended with exceptional customer service.
Last Fall I ordered my dream car – a 2012 Mini Cooper S from Baron Mini Cooper. (His name is Pepi because he has a lot of spice and pep.) Since my car was manufactured to my specifications in England, Tom Seling, my salesperson told me that it would take about eight weeks for my car to arrive. I tracked Pepi’s progress and was pleasantly surprised when he arrived after only four weeks.
I eagerly drove to the dealer to pick up Pepi; went through some basic how-to training and started to drive home. Before I left the parking lot, an error message appeared saying that I needed to drive carefully to the nearest Mini dealer to have my anti-lock braking system (ABS) repaired. At first I figured it was just something the car dealer forgot to reset when they were prepping the car for me, however it actually was defective. Not only that, but the dealership needed to order the part from England and they told me it would be a few days before they could repair my car.
Baron prides itself on their customer service and everyone from my sales person, to the mechanic to the manager were mortified. Apparently this particular problem hasn’t happened to Baron since Baron started selling Mini Coopers in 1999. I was truly disappointed, but they gave me another 2012 Mini Cooper S as a loaner and told me that they would let me know when my car would be repaired.
Here’s where the butterfly effect comes in. There was a world-wide shortage of ABS parts. The manufacturer that Mini Cooper had been using for the ABS was located in Japan and because of the tsunami in March, they were temporarily unable to deliver the parts to Mini Cooper. Mini Cooper found another supplier, but it was inferior quality and many systems failed and needed to be replaced.
In the meantime, Tom kept in contact with me and told me that it might be another six weeks before my car could be fixed – and of course, I could continue to drive the loaner until then.
When my car arrived, only three weeks later, Tom drove Pepi to my house so that we could switch cars. He gave me some Mini gifts AND a check for three months of my lease payments.
The earthquake near Japan, was completely out of Mini Cooper’s control – however what they could control is how they handled it. They turned what could have been an opportunity to lose a customer into a positive experience.
In the end, I am even more impressed with Baron Mini Cooper and I LOVE my car.
Tagged Butterfly Effect, Customer Service, Mini Cooper, Morningstar Communications, Shanny Morgenstern, Tsunami | 1 Comment January 24, 2012It’s all about the people. Always.
Posted in Executive InsightsWhen someone asks me, “What’s the secret to building a successful strategic communications firm?” I answer, in hushed, reverent tones… “Surround yourself with people smarter than you and work for smart, successful companies.”
Last fall we created, hosted and facilitated a panel discussion with six CEOs of organizations that have lasted more than 100 years. We have ongoing, sustaining relationships with all of them: Hallmark Cards, Tension, Saint Luke’s Health System, The City of Kansas City, Stinson Morrison Hecker and Alphapointe Association for the Blind. When asked how each of their businesses has stood the test of time, there was one, unifying theme: it’s all about the people. The single most important variable for long-term success is how well you attract, retain and connect with the right people.
When I think about the people that matter most to me, my head spins. I start with my family, and then roll to my colleagues at Morningstar Communications, my clients, industry contacts, alumni, civic contacts, and our extensive business networks and suppliers / partners. Then come all of my Jewish relationships, other business owners, fellow entrepreneurs in HEMP, old college buddies, neighbors, and my list goes on and on. The common ground is they are all people who matter to me.
However, this is not a numbers game. It’s not how many friends you have on Facebook, connections on LinkedIn, or followers on Twitter. Those are just pathways – opportunities to build and strengthen personal associations. It’s how you activate those relationships.
I recently gave a presentation at The Kauffman Foundation as part of Global Entrepreneurship Week on Intentional Networking. Effective networking is all about creating and fostering two-way relationships that benefit both people. This approach works for people you already know, and those you have yet to meet.
I often cite quotes from a wide array of proven leaders. This one, however, you can attribute directly to me: “The only thing you ever own is your reputation and your relationships … everything else is transitory.”
We may switch jerseys and play for a new team, clients become colleagues, employees become competitors. But one thing is absolutely certain … you truly own your ability to keep and foster great relationships.
Who matters to you? How do you build and strengthen those relationships? How do you express your appreciation and respect to them? Do you perform a random act of kindness … give an authentic compliment … comment on a post … send a hand-written thank-you note?
The most important key to long-term success is simply how well you connect with the people who matter most to you.
And that, my friends, will always be true.
Onward and upward.
Tagged Eric Morgenstern, intentional networking, Morningstar Communications, people, relationships | 3 Comments January 5, 2012Blogging Through the Year
Posted in Best Practices, Executive InsightsAs the year comes to a close, we are bombarded with year in review lists – top news stories of 2011, most totally awesome meltdowns of 2011, chart-topping songs of the year … you get the picture. So here’s one more – a few of my favorite Luminary Blog posts from the past year.
We started the year in January with an insightful post from Tricia Jaworski about social media resolutions for your business. As we close out the fourth quarter, how was your year in social media?
After all of the hard work that goes into securing a media placement, it is important to maximize your success. Once you have that great story in print what do you do to make the most of it? Holly Eckold tells you how.
Listening is one of the most important pieces of communication and we often forget that part of the equation. Meg Schulte shared how listening leads to learning, particularly in social media.
Eric Morgenstern wrote a great post on one of my favorite topics, collaboration. He shared how cooperation, even among frequent competitors, can create excellent and mutually beneficial outcomes. It’s “win-win” or no deal when it comes to successful collaboration.
And finally, as a not-so-secret word nerd I love this post by Michelle Boyd about the importance of strong writing skills.
Those are but a sampling of the insightful and interesting posts from the Luminary Blog in 2011. Stay tuned in 2012 for even more great posts from our stellar team. Happy Holidays!
Tagged blog review, Luminary blog, Morningstar Communications, Rachel Spear | Leave a comment December 13, 2011 ← Older posts