The Wealthy Business - by EnergizeGrowth

Three Scary Growth Planning Statistics

I was the guest speaker for a CEO webinar today entitled "Four Strategies to Energize Your Business Growth and Thrive in the Recovery."

Our event host polled the 77 B2B companies who participated. We asked three questions.  I wanted to know how effectively and consistently they are positioning their companies for the recovery. Their responses were quite revealing and somewhat disappointing. Let me know if any of these surprise you.

The Secret Weapon for B2B Market Research

I just discovered a new website and want to share it with you. If you and your teams are in the midst of launching new services or products, this site will save you loads of analysis time.

Have you seen Wolfram Alpha yet? This tool may just be a category killer against Bing and Google.

See for yourself:  http://www.wolframalpha.com/screencast/introducingwolframalpha.html. It's worth watching the 7 minute video. 

This proves once again that innovation and viral marketing give us hope and confidence in any economy--even when the major indices tell us otherwise.

Let me know what you think.

Six Questions to Conquer the Growth Woes of Women-Owned Businesses

I read Monday's article in The Wall Street Journal new research which reveals that women-owned businesses are alot smaller than men-owned companies. The author, Sharon Hadary, claims that "the differences between women and men begin with their own reasons for starting a business."

What role are our current education systems playing in encouraging women to play small, and how do we break free from that limiting paradigm?

 
Sharon Hadary and Chris Vaugh (courtesy HerStartup) 

GE CEO Jack Welch once said, "Insecure managers create complexity." In today's crazy-busy world, how much additional complexity are you piling onto your employees and clients? Model simplicity, confidence, and security. Speak simply and carry a big message.

Got Growth? A Webinar You Can't Miss - May 27

A recent global survey published by the Conference Board revealed that CEOs are (finally) shifting their focus to growth. They discovered that the 2008 top priorities--namely worries about global economic performance, business confidence, geofinancial instability, and integrity of capital markets--dropped precipitously to the bottom of the list.

Now is the time to shift YOUR focus to growth. Together with my sponsor, Renaissance Executive Forums, I will show you how.

Please join me on May 27, 2010 from 8am-8:50 am PT, 11-11:50 am ET for "Four Strategies to Energize Growth and THRIVE in the Recovery."

Based on my worldwide research of innovative CEOs and my recent client successes, I will
show you the G.R.O.W. Formula - a proven, customer-centric model to help you:

• Develop new marketing & business growth strategies
• Capitalize on hidden opportunities
• Generate innovative thinking to expand your solution options
• Challenge you to exceed higher goals

If you are serious about building a sustainable, healthy business, please join us.  Get ready for this action-packed, high-energy session.

Space is limited. Reserve your Webinar seat now at:
https://www1.gotomeeting.com/register/472278864

As you know, I seldom lead pro bono CEO sessions. This is a rare opportunity to bring your questions, gain new ideas, and refine your action plan for the remainder of 2010. I hope you won't miss it.

Here is the link again:
https://www1.gotomeeting.com/register/472278864

"See" you on the webinar!

Three Ways to Royally Defend Your Brand

You have to hand it to the Swedish Royal Family.  They know how to build and defend their brand fortress amidst the cynical masses. And today's organizations, faced with similar wary tribes, can learn from their innovative marketing strategies.

While Magnus and I visited our family in Stockholm last week, we serendipitously chose to stay in Gamla Stan (Old Town) on the exact day of King Carl Gustav's 64th birthday. We spent hours wandering the museums, observing crowds, and basking in 800 years' worth of historical symbols. To top it off, I caught a glimpse of HRH Carl Gustav marching across the Palace courtyard. (see below). That's where the branding campaign started to reveal itself.

 

The Finnish Line: Three Questions to Foster Top Line Growth

I just completed a highly interactive, fun half-day growth planning session with several of the titans of Finnish business.  The general economic malaise that Greece has generated has clearly instilled a sense of trepidation among many of these leaders. In light of the recent barrage of natural disasters, economic crises, and Senate hearings, how much are these companies willing to take risks and grow?

In Finland, the CEOs I met are deeply concerned about the future of their economy. Rightly so. Although they are very committed to international trade, they are not innovating at a rate that would propel today's startups towards rapid or top line growth. Their economy is heavily dependent on a few large companies, such as Nokia, Onninen, and Stora Enso. My friend Kirsti Lindberg-Repo, a seasoned Adjunct Professor of Marketing at Hanken School of Economics and five time author, has tested this. At a recent seminar, she asked Finnish CEOs "What holds Finnish companies back from becoming the next Nokia?" One response caught her by surprise: "The CEOs themselves do not want to grow." In other words, they are happy running a slow-growth company as a lifestyle business.

Kirsti Lindberg-Repo,  Heikki Lehmusto, and Lisa at Kosmo Restaurant in Helsinki
 

Petteri Kilpanen offers a completely different view. As CEO of TBWA/Helsinki, one of the top five advertising agencies in Finland, he refuses to accept slow growth as the answer. "Three years ago, our operation employed 50 people.  We found ourselves competing against many other agencies for advertising campaigns. I decided this was not enough to help Finnish companies. I wanted to shift our focus from providing advertising and marketing strategies to helping them grow their businesses and think bigger."

That's exactly what he and his team accomplished. Over the next three years, the company developed innovative educational programs. They grew 30 per cent annually and expanded to 300 professionals. They proudly work with organizations such as Nokia, Apple, and Nordbank.

Ask these three questions to assess your own tolerance and preparedness for risk and growth:

1.  Which projects or growth ventures are draining our company or threatening our growth potential? If you’re like many entrepreneurs, you may have fallen prey to the feeling of “we cannot afford to say no to any client business this year,” and may have inherited your competitors’ nightmare clients. 

2.  What shiny pennies are destroying our growth potential? Shiny penny syndrome is a chronic habit of becoming easily distracted by new ideas that appear on your “business sidewalk.” It’s easy to be blown off course and seduced by the latest fad (e.g. social media, anyone?)  Continually focus on what you do best. Allow for some flex time in your daily tasks, just in case a great opportunity or unexpected situation arises.

3.  What stage of growth are we experiencing, and what can we do to scale the next wall? Unless you understand what stage of growth you’re facing, your key performance indicators (KPIs) won’t mean anything. In fact, they will just create busy work. Be clear on the emotional and political dynamics that a startup faces, and how they differ from a rapid growth company or a business facing its end of life phase. Be clear where your company fits on that life cycle map. (you can find the "Stages of Growth" map in my book).

As the economic turnaround continues, you must outline a growth plan that fits your values and vision.  And you need to dig deep to find the courage to invest in new top line generating venutures. Without them, you will never see the "Finnish line."

Copyright 2010, Lisa Nirell.  All rights reserved.