============================================================
Monday Morning Motivators – October 30, 2006
============================================================
Espresso business tips are designed to "caffeinate" your mind
while your java
gets you going. Subscribing and Unsubscribing at www.mondaymorningmotivators.com
"Perpetual optimism is a force multiplier.”
-- Colin Powell
============================================================
Table of Contents
============================================================
1. Non-Value-Added is not Always Waste – Linda Fayerweather
2. Marketing Monstrosity #4 – Targeting the Unreachable - Rebecca Booth
3. Flexibility Beyond the Gym
- John Meyer
4. Fine Print
============================================================
1. Non-Value-Added is not Always Waste
============================================================
Lean is about eliminating waste or the errors and inefficiencies that impact costs, quality, customer satisfaction, and delays. All activities within a value stream must be in one of the following three categories:
• Value-added. Adding value or worth to the product or service.
• Non-value-added. Work that may not directly add value to the customer and is currently required for business or regulatory reasons.
• Waste. Non-value-creating work that can be eliminated immediately.
This is not as simple as it seems. At first glance, all support and administrative activities may appear to be non value-added. The challenge becomes deciding the difference between the non-value-added work and waste.
Copyright 2006 Linda Fayerweather
Changing Lanes LLC
www.ChangingLanes.biz
============================================================
2. Marketing Monstrosity #4 – Targeting a Market You Can’t Reach
============================================================
A lot of financial advisors fall prey to not “thinking outside the box” when it comes time to create a target market. The vast majority only wants to get referrals from doctors, lawyers and CPAs. In the Toledo marketplace alone, there are over 3600 financial services people, but only 1437 doctors, lawyers and CPAs. So they’re trying to reach a market that they can’t reach because there’s too much competition. One financial advisor in town is ubersmart when it comes to target markets. Her market: employers who are willing to have her visit with their employees to talk about saving for retirement.
Avoid this marketing monstrosity by:
• Knowing how much competition you have in the marketplace.
• Identify characteristics of potential buyers by creating a detailed customer profile. What do these people have in common? What are their needs, wants, desires?
Copyright 2006 Rebecca Booth
Marketing Goddess
Imagine That!
www.marketingsolutioneers.com
===========================================================
3. Flexibility Beyond the Gym
===========================================================
Being flexible and adaptable are essential elements for survival and progress.
Never close your mind to learning new ideas and methods of doing something. Just because you have always done something one way, doesn't necessarily mean that it is the best way. Once you have named your limitations, they are now yours! If you remain open-minded and flexible to others suggestions, you will grow and prosper through their knowledge.
Copyright 2006 John R. Meyer
District Director, BNI Ohio
http://www.bni-ohio.com
Monday, October 30, 2006
Monday, October 23, 2006
Got Data? Not Much!
============================================================
Monday Morning Motivators – October 23, 2006 ============================================================
Espresso business tips are designed to "caffeinate" your mind while your java gets you going. Subscribing and Unsubscribing at www.mondaymorningmotivators.com
"Sooner or later, those who win are those who think they can.” -- Paul Tournier
============================================================
Table of Contents ============================================================
1. Got Data? Not Much. – Linda Fayerweather
2. Marketing Monstrosity #3 – Not Targeting a Niche - Rebecca Booth
3. Become a Great Storyteller - John Meyer
4. Fine Print
============================================================
1. Got Data? Not Much.
============================================================
What data do you collect on your administrative processes? If you are like many companies limited data, if any, is collected on those internal processes. For support and administrative operations, determining what data to include depends on what questions you’re trying to answer about your value stream and how you define the “product” produced by these operations.
For example, if your goal is to reduce days waiting for receivables, it would be helpful to define “invoices” as the product and identify the
• Total number of invoices issued,
• Cycle time and queue time for processing, and
• Total cycle time including collection.
From this information, you can determine where bottlenecks most likely occur and eliminate areas of waste in your “future state” process.
Copyright 2006 Linda Fayerweather
Changing Lanes LLC
www.ChangingLanes.biz
============================================================
2. Marketing Monstrosity #3 – Not Targeting a Niche Market ============================================================
If your target market is “everybody,” then your target market is really “nobody!”
Most small businesses want to sell their products to any person on the street.
The truly successful entrepreneur knows that they won’t lose money by niche-ing down. Instead, clients outside the target market are perceived as being “icing on the cake.”
You can avoid this marketing monstrosity by:
• Looking at a niche as being inclusive versus exclusive. Think of it as that cake.
• Spending the majority of your marketing dollars trying to get your niche market to recognize you, versus having you spend money willy-nilly in all sorts of publications to market to “everybody.”
• Remembering customers outside your niche are “icing on that cake.”
• Thinking specifically to receive more!
Copyright 2006 Rebecca Booth
Marketing GoddessImagine That!
http://www.marketingsolutioneers.com/
===========================================================
3. Become a Great Storyteller
===========================================================
One sure fire way to help people remember who you are and what kind of business you are looking for is to be a great storyteller. People will remember how you helped others if you tell powerful stories about the situation or circumstances. What was the problem the person had? How did you help them? What were the results?
Copyright 2006 John R. Meyer
District Director, BNI Ohio
http://www.bni-ohio.com/
Monday Morning Motivators – October 23, 2006 ============================================================
Espresso business tips are designed to "caffeinate" your mind while your java gets you going. Subscribing and Unsubscribing at www.mondaymorningmotivators.com
"Sooner or later, those who win are those who think they can.” -- Paul Tournier
============================================================
Table of Contents ============================================================
1. Got Data? Not Much. – Linda Fayerweather
2. Marketing Monstrosity #3 – Not Targeting a Niche - Rebecca Booth
3. Become a Great Storyteller - John Meyer
4. Fine Print
============================================================
1. Got Data? Not Much.
============================================================
What data do you collect on your administrative processes? If you are like many companies limited data, if any, is collected on those internal processes. For support and administrative operations, determining what data to include depends on what questions you’re trying to answer about your value stream and how you define the “product” produced by these operations.
For example, if your goal is to reduce days waiting for receivables, it would be helpful to define “invoices” as the product and identify the
• Total number of invoices issued,
• Cycle time and queue time for processing, and
• Total cycle time including collection.
From this information, you can determine where bottlenecks most likely occur and eliminate areas of waste in your “future state” process.
Copyright 2006 Linda Fayerweather
Changing Lanes LLC
www.ChangingLanes.biz
============================================================
2. Marketing Monstrosity #3 – Not Targeting a Niche Market ============================================================
If your target market is “everybody,” then your target market is really “nobody!”
Most small businesses want to sell their products to any person on the street.
The truly successful entrepreneur knows that they won’t lose money by niche-ing down. Instead, clients outside the target market are perceived as being “icing on the cake.”
You can avoid this marketing monstrosity by:
• Looking at a niche as being inclusive versus exclusive. Think of it as that cake.
• Spending the majority of your marketing dollars trying to get your niche market to recognize you, versus having you spend money willy-nilly in all sorts of publications to market to “everybody.”
• Remembering customers outside your niche are “icing on that cake.”
• Thinking specifically to receive more!
Copyright 2006 Rebecca Booth
Marketing GoddessImagine That!
http://www.marketingsolutioneers.com/
===========================================================
3. Become a Great Storyteller
===========================================================
One sure fire way to help people remember who you are and what kind of business you are looking for is to be a great storyteller. People will remember how you helped others if you tell powerful stories about the situation or circumstances. What was the problem the person had? How did you help them? What were the results?
Copyright 2006 John R. Meyer
District Director, BNI Ohio
http://www.bni-ohio.com/
Monday, October 16, 2006
Map This
============================================================
Monday Morning Motivators – October 16, 2006
============================================================
Espresso business tips are designed to "caffeinate" your mind while your java
gets you going. Subscribing and Unsubscribing at www.mondaymorningmotivators.com
"Sooner or later, those who win are those who think they can.”
-- Paul Tournier
============================================================
Table of Contents
============================================================
1. Map This – Linda Fayerweather
2. Marketing Monstrosity #2: Doing What Your Competitors Do - Rebecca Booth
3. Manage Yourself as a Resource - John Meyer
4. Fine Print
============================================================
1. Map This - Administrative “Value Streams”
============================================================
Administrative implies “office work” or to some, lots of Muda*. Achieving a lean office begins with mapping and analyzing each “value stream”. Value streams are the steps that comprise a given process from boss to co-worker to customer (internal or external). This can be challenging as often many people touch and add value to many different services and processes. Even so, it’s a vital first step to identifying the following:
* Who benefits from the work being done, and are their requirements being met?
* Are there steps in the process that don’t add value to the receiving “customer”?
* Are work tasks evenly distributed?
* Are work areas disorganized?
* Is there a continuous flow of work, or are there large ebbs and flows in work volume?
* Is there a lot of variation in how workers perform value-added tasks?
* Does material/information sit for a long time?
To get started, pick one process and identify all the steps to complete using postit® notes stuck to a flat surface. Study it; ask for input and feedback; move the tasks around; add or subtract; refine and you will end up with your first value stream map. Start small, document it and you will have a procedure that adds value and is repeatable by others.
Copyright 2006 Linda Fayerweather
Changing Lanes LLC
www.ChangingLanes.biz
*Muda = Waste
============================================================
2. Marketing Monstrosity #2 – Doing What Your Competitors Do
============================================================
While it’s important to know what your competitors are doing, you shouldn’t let it dictate the marketing strategy for your business. Let your competitor be the “low price leader” while you focus on value. Oft times, low prices leaders attract low-end, high maintenance customers. By placing your focus on value, you’ll drop those problematic clients for a client who has higher standards. People are happy to pay more for a product that has more value to them in the long run.
Avoid this marketing monstrosity by:
• Meeting an unmet need or want of your target market – one that your competitors don’t meet.
• Identifying a niche market which will give clients a reason to choose you over your competition!
Copyright 2006 Rebecca Booth
Marketing Goddess
Imagine That!
www.marketingsolutioneers.com
===========================================================
3. Manage Yourself as a Resource
===========================================================
Others won't know you are a fountain of information unless you manage yourself as one. Always be prepared to give a referral. Carry others’ business cards with you. If you can't carry business cards, have your hand-held data base with you at all times so you can at least give out a name and phone number. If someone asks you if you know a plumber and your palm-pilot is sitting on your desk, it's hard to give a name and phone number on the spot.
Copyright 2006 John R. Meyer
District Director, BNI Ohio
http://www.bni-ohio.com
Monday Morning Motivators – October 16, 2006
============================================================
Espresso business tips are designed to "caffeinate" your mind while your java
gets you going. Subscribing and Unsubscribing at www.mondaymorningmotivators.com
"Sooner or later, those who win are those who think they can.”
-- Paul Tournier
============================================================
Table of Contents
============================================================
1. Map This – Linda Fayerweather
2. Marketing Monstrosity #2: Doing What Your Competitors Do - Rebecca Booth
3. Manage Yourself as a Resource - John Meyer
4. Fine Print
============================================================
1. Map This - Administrative “Value Streams”
============================================================
Administrative implies “office work” or to some, lots of Muda*. Achieving a lean office begins with mapping and analyzing each “value stream”. Value streams are the steps that comprise a given process from boss to co-worker to customer (internal or external). This can be challenging as often many people touch and add value to many different services and processes. Even so, it’s a vital first step to identifying the following:
* Who benefits from the work being done, and are their requirements being met?
* Are there steps in the process that don’t add value to the receiving “customer”?
* Are work tasks evenly distributed?
* Are work areas disorganized?
* Is there a continuous flow of work, or are there large ebbs and flows in work volume?
* Is there a lot of variation in how workers perform value-added tasks?
* Does material/information sit for a long time?
To get started, pick one process and identify all the steps to complete using postit® notes stuck to a flat surface. Study it; ask for input and feedback; move the tasks around; add or subtract; refine and you will end up with your first value stream map. Start small, document it and you will have a procedure that adds value and is repeatable by others.
Copyright 2006 Linda Fayerweather
Changing Lanes LLC
www.ChangingLanes.biz
*Muda = Waste
============================================================
2. Marketing Monstrosity #2 – Doing What Your Competitors Do
============================================================
While it’s important to know what your competitors are doing, you shouldn’t let it dictate the marketing strategy for your business. Let your competitor be the “low price leader” while you focus on value. Oft times, low prices leaders attract low-end, high maintenance customers. By placing your focus on value, you’ll drop those problematic clients for a client who has higher standards. People are happy to pay more for a product that has more value to them in the long run.
Avoid this marketing monstrosity by:
• Meeting an unmet need or want of your target market – one that your competitors don’t meet.
• Identifying a niche market which will give clients a reason to choose you over your competition!
Copyright 2006 Rebecca Booth
Marketing Goddess
Imagine That!
www.marketingsolutioneers.com
===========================================================
3. Manage Yourself as a Resource
===========================================================
Others won't know you are a fountain of information unless you manage yourself as one. Always be prepared to give a referral. Carry others’ business cards with you. If you can't carry business cards, have your hand-held data base with you at all times so you can at least give out a name and phone number. If someone asks you if you know a plumber and your palm-pilot is sitting on your desk, it's hard to give a name and phone number on the spot.
Copyright 2006 John R. Meyer
District Director, BNI Ohio
http://www.bni-ohio.com
Monday, October 09, 2006
Office Wasting Disease
============================================================
Monday Morning Motivators – October 9, 2006
============================================================
Espresso business tips are designed to "caffeinate" your mind while your java
gets you going. Subscribing and Unsubscribing at www.mondaymorningmotivators.com
"Lean is about leadership. It starts at the top - from the highest level all the way through the organization."
-- Glenn Haley, Business Manager, Owens Corning
============================================================
Table of Contents
============================================================
1. Office Wasting Disease – Linda Fayerweather
2. Avoiding 10 Typical Marketing Monstrosities - Rebecca Booth
3. Be Willing to be a Resource - John Meyer
4. Fine Print
============================================================
1. Office Wasting Disease
============================================================
Although Office Wasting Disease will not affect your hunting season, it can and will stall out your profit. Don Tapping, author of Value Stream Management for the Lean Office states that “60 to 80% of all costs related to meeting customer demand are administrative.” If your company wants to be “Lean,” Lean must be understood, implemented, and sustained throughout the entire organization.
Benefits of Lean Office:
--Company level, lean can help accelerate those processes that touch external customers and suppliers (be thinking order entry, customer service, distribution);
--Managerial level, lean streamlines support processes (such as IT or human resources) and improves communication and cross functional cooperation;
--Department level, lean reduces activities that add time with little value, improves workflow, and measures progress;
--Individual level, lean can reduce paperwork and errors and clarify roles, responsibilities, and objectives.
Here are the reasons why Office Lean is not the norm and Office Wasting Disease is affecting businesses:
1. Lack of clearly defined administrative “value streams”;
2. Limited data collection;
3. Lack of understanding between “waste” and non-value-added activities in office environments.
Next week: Exploration of administrative value streams.
Copyright 2006 Linda Fayerweather
Changing Lanes LLC
www.ChangingLanes.biz
============================================================
2. Avoiding 10 Typical Marketing Monstrosities
============================================================
Over the next several weeks we’ll be discussing monstrous marketing mistakes that small business owners and entrepreneurs make time and time again. We hope that you benefit from knowing what the mistakes are before you set out to market your product/service.
Marketing Monstrosity #1 – Sinking Money into Unproven Products
Is your business idea based on valid market research or on a hunch? All too often, entrepreneurs fall in love with their own product/service before they determine if there’s a real market out there for it. Worse yet, they throw tons of cash into the venture only to see it fail.
You can avoid this marketing monstrosity by:
• Doing your own market research with potential users – not your friends or family – before the product’s been developed.
• Test drive the idea in the marketplace once you have a few working prototypes in place.
Copyright 2006 Rebecca Booth
Marketing Goddess
Imagine That!
www.marketingsolutioneers.com
===========================================================
3. Be Willing to be a Resource
===========================================================
You may not know all the answers, but you should be prepared to find them. If you are asked a question and you don't know the answer, let the person know that you will try and find the answer for them or at least refer them to the right person. This will go a long way in building your credibility.
Copyright 2006 John R. Meyer
District Director, BNI Ohio
http://www.bni-ohio.com
Monday Morning Motivators – October 9, 2006
============================================================
Espresso business tips are designed to "caffeinate" your mind while your java
gets you going. Subscribing and Unsubscribing at www.mondaymorningmotivators.com
"Lean is about leadership. It starts at the top - from the highest level all the way through the organization."
-- Glenn Haley, Business Manager, Owens Corning
============================================================
Table of Contents
============================================================
1. Office Wasting Disease – Linda Fayerweather
2. Avoiding 10 Typical Marketing Monstrosities - Rebecca Booth
3. Be Willing to be a Resource - John Meyer
4. Fine Print
============================================================
1. Office Wasting Disease
============================================================
Although Office Wasting Disease will not affect your hunting season, it can and will stall out your profit. Don Tapping, author of Value Stream Management for the Lean Office states that “60 to 80% of all costs related to meeting customer demand are administrative.” If your company wants to be “Lean,” Lean must be understood, implemented, and sustained throughout the entire organization.
Benefits of Lean Office:
--Company level, lean can help accelerate those processes that touch external customers and suppliers (be thinking order entry, customer service, distribution);
--Managerial level, lean streamlines support processes (such as IT or human resources) and improves communication and cross functional cooperation;
--Department level, lean reduces activities that add time with little value, improves workflow, and measures progress;
--Individual level, lean can reduce paperwork and errors and clarify roles, responsibilities, and objectives.
Here are the reasons why Office Lean is not the norm and Office Wasting Disease is affecting businesses:
1. Lack of clearly defined administrative “value streams”;
2. Limited data collection;
3. Lack of understanding between “waste” and non-value-added activities in office environments.
Next week: Exploration of administrative value streams.
Copyright 2006 Linda Fayerweather
Changing Lanes LLC
www.ChangingLanes.biz
============================================================
2. Avoiding 10 Typical Marketing Monstrosities
============================================================
Over the next several weeks we’ll be discussing monstrous marketing mistakes that small business owners and entrepreneurs make time and time again. We hope that you benefit from knowing what the mistakes are before you set out to market your product/service.
Marketing Monstrosity #1 – Sinking Money into Unproven Products
Is your business idea based on valid market research or on a hunch? All too often, entrepreneurs fall in love with their own product/service before they determine if there’s a real market out there for it. Worse yet, they throw tons of cash into the venture only to see it fail.
You can avoid this marketing monstrosity by:
• Doing your own market research with potential users – not your friends or family – before the product’s been developed.
• Test drive the idea in the marketplace once you have a few working prototypes in place.
Copyright 2006 Rebecca Booth
Marketing Goddess
Imagine That!
www.marketingsolutioneers.com
===========================================================
3. Be Willing to be a Resource
===========================================================
You may not know all the answers, but you should be prepared to find them. If you are asked a question and you don't know the answer, let the person know that you will try and find the answer for them or at least refer them to the right person. This will go a long way in building your credibility.
Copyright 2006 John R. Meyer
District Director, BNI Ohio
http://www.bni-ohio.com
Subscribe to:
Posts (Atom)