The good old days are not coming back

After this recession is over--some say it has already passed while others say we have another "dip" to deal with--we have to face one thing: the old days are not coming back.

I don't think that is a negative or positive statement, just merely fact.

There will be industries that do not recover, there will jobs or positions that will go unfilled. Yet a new economy will roll forward.

What are you doing to make sure your job is valuable today and in the future? What are we doing to make sure our businesses are relevant today and tomorrow? What are manufacturers doing to make sure their new products are viable today and tomorrow?


Barry LaBov
LaBov & Beyond
www.labov.com

Decision: Fun Stuff or Profitable Stuff?

Large corporations have an interesting dilemma today--do they focus on the profitable products they produce or do they funnel resources toward the more exciting opportunities out there?

With technology speeding ahead faster than ever, some corporations are focusing on new products, new segments and new ways of communicating. These efforts can be exhilarating and they often feel right.

At the same time if we don't watch out, the tried and true product that is allowing the corporation to survive, may be ignored. In tough economies, this can spell disaster.

Consider this : there is a corporation that makes most of its profit from one product. Yet, its energies--its emotions--are focused on a small segment that represents no profit and very little in sales. Another corporation is forsaking its bread and butter services and instead has most of its resources focused on communicating with customers in unique and fun ways.

In each of these cases, there has to be a balance. Today, there isn't enough business to go around to allow a corporation to take its eye off the ball (profitable products) and still thrive.

New ideas and technologies are vital for future growth, but you have to have a future in order to use them.

Barry LaBov
LaBov & Beyond
www.labov.com

Resourcefulness--the new value story

In our new economy, it's obvious that cheap has become chic. It is cool to save money, to hold off buying. Bankers will tell you that people aren't spending over their means like they once did. This is not bad, in fact there is a lot of good to this.

My buddy, the brilliant Dan Merchant, told me a great way to describe the new approach people are taking in their purchasing: resourcefulness.

People are more resourceful. They want as much as ever, but want it for less. They'll forsake the unimportant stuff, but still want the really important stuff. They'll spend three days at the Ritz at a reduced rate instead six days at full rate. They'll shop for a great tasting wine that costs $18 instead of loading up on the $200 stuff that has cache but lower ratings.

Getting more for less and being involved in the decision--that's what consumers are doing and that's what manufacturers have to realize in creating their products. People don't want crappy, inexpensive stuff--they want cool stuff (not necessarily stuff that is perfect or bloated with all the extras) that they can get at a great price.

Now it's our job to help our customers feel resourceful.


Barry LaBov
LaBov & Beyond
www.labov.com

Follow-up: Lost Art, Secret Weapon or Business as Usual?

Take a quick inventory. How often (what percentage of the time) do people follow-up as promised? If you're a corporate exec, how often do your people report back as promised on the various issues you've discussed? How often do your suppliers or partners live up to what they said and communicate it to you? Or do you have to track down those individuals or teams to learn what is going on?

If you're a supplier--how often do you follow-up as promised on all expected information--good and not-so-good?

And internally at your company, how often do you follow-up as promised on what you've committed to with your superiors, co-workers or direct reports?

Follow-up, you'd think, should be a no-brainer. You promise, you do. But today it is not a given. Too often, follow-up is an option.

Do yourself a favor. Track what your follow-up score is--how often you live up to what you've said to others. And track the follow-up score of those that report to you (suppliers or direct reports).

I'll follow-up with more on this subject. I promise.


Barry LaBov
LaBov & Beyond
www.labov.com

New Competitor for Service Firms?

If you're an aggressive service firm, you not only focus on the customer, but you're also well aware of your competition. The competition today may be hyper-aggressive, or it may be in a slumber - either way, it's imperative that you know their status.

There is a new competitor that we need to be aware of today: the customers themselves. More customers are taking services in-house. They see no problem pulling in basic functions ranging from Web to marketing to customer relations and so on.

There are two reasons for them doing this. 1) Obviously, it saves saves money, at least initially. But the biggest reason it's being done is 2) it's viewed as a way to increase job security. If they can have their in-house team produce services, that team would seem to be less likely to be laid-off, they would be proving their value to the organization.

I have no issue with the client going in-house, if those services can be done by them just as well as their supplier would do them. But as suppliers, we need to make sure our clients understand the real value we bring - that may influence whether they bring that work in-house.

Otherwise, if suppliers don't make clear what unique value and talent they bring, they have another competitor in a crowded recessionary market.


Barry LaBov
LaBov and Beyond
www.labov

Corporate Speak Hindrance

People are simple. I know I'm real simple - ask anyone who knows me. Things are so complicated today that we have no more room for more complexity and interference.

We have too many choices for entertainment, for information, for news and for political views. We have too many choices for management advice. Too many options for transportation and communication - do you want to communicate in-person, on the web, on the phone, via email, over LinkedIn, Facebook or by smoke signals?

Which leads to those things we use to communicate with others: words. We already have enough words, yet we are creating new ones and we're adding acronyms almost on an hourly basis. Go to this site if you want to see a list of some of the corporate lingo we overuse daily.

Do you want to break through and really inspire people? Talk clearly, avoid the corporate speak and be real. Avoid the useless language that gets in the way.


Barry LaBov
LaBov and Beyond
www.labov.com

Old Dog, New Dog

Sometimes we old dogs get complacent. We have it figured out. Then a new dog comes along and we're uncomfortable. After some time, we get a little more used to it. Then we might even get a little energized. And maybe, we actually have more fun with that new dog than we've had in a long time.

Whether we're talking about the workplace or whether we're actually talking about about canines, it's all the same.

Team up an established employee with a hungry, enthusiastic one and you might see some great results.

If nothing else, it'll be fun to watch.


Barry LaBov
LaBov & Beyond
www.labov.com

PS I thank Sonya (young pup) for giving this old dog this insight.

You can spot the most successful people

The rap on successful people is that they're egotistical, they're selfish, and they're brash. Of course, that's an understandable prejudice, since it's perpetrated by people who feel they aren't successful--how else can they rationalize their shortcomings?

In truth, the successful people I've known are generally pretty nice, fair and giving people. After all, they've been successful due to others wanting and helping them to succeed - who would want a lousy, selfish jerk to do well?

Those real successful people are also smart, but no smarter than most of us. They just somehow have that drive and focus to achieve, yet at the same time, have involved and engaged others in the journey.

Not all the great successes I've known are nice, but more often than not, they have plenty of good traits. Even the difficult ones usually are pretty decent once you get to understand them.

Our world is all about people and very few of us can succeed without their support and belief.

Barry LaBov
LaBov and Beyond
www.labov.com

Statements You May Not Realize You're Making

Think about this:

One afternoon at 4:30 p.m., a corporate CEO announces tough decisions - he lays off 3,000 employees, cuts benefits, shutters factories and takes away things like company picnics and holiday parties.

The next morning at 7:55 a.m., he drives in to the office in his $120k luxury sports car to start the day.

There's something wrong with this picture if you happen to be the ex-employee, current employee or local citizen.

There's a statement being made that no longer works. It used to be if your CEO drove that $120k car, it implied that your company was on the rise, going somewhere. Now that statement could be interpreted as: there's a CEO looking out for himself (or herself) who doesn't care about the little guy.

I think corporate business jets, if properly utilized, can help grow business. But there's no real rationale for the $120k luxury car parked in the CEO's parking space.

By the way: I'm not in any way throwing stones at the CEO. The car is probably on lease or part of the employment package. But it will be judged nonetheless.


Barry LaBov
LaBov and Beyond
www.labov.com

I Met This Famous Guy

Back when I had hair, I was in a rock band. I loved, and practically worshiped, some of the great rock bands. I recently met a guy that was involved with many of my rock-and-roll heroes.

I couldn't wait to ask him the questions I'd stored up for decades. Then I met him.

Basically, every question I asked was dismissed. His view of the era was dramatically different from mine. You see, he was a performer in the era; I was a spectator. I glorified what he was involved with. He looked at it as his job - one he really loved, but a job nonetheless.

Freud said "Sometimes, a cigar is merely a cigar." Sometimes we (I) blow things out of proportion when they are merely no more than what they are.

Barry LaBov
LaBov & Beyond
www.labov.com