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Greetings!
BEWARE THE PLACEBO
Last week's 'New Scientist' provided
firm evidence that proves a threat doesn't need to be real to harm us, just
perceived. It cites the case of a young man undergoing a drug trial who
attempted suicide by taking the whole box of pills he'd been given.
Immediately regretting his
decision, he called for help and was rushed to hospital where his blood
pressure dropped dangerously low and his breathing quickened. He did not
respond to treatment until the doctor revealed that what he thought was a
powerful drug was in fact a harmless placebo. He burst into tears and within 15
minutes his heart rate and blood pressure had returned to normal.
Business advisers and coaches
are very familiar with this phenomenon in the enterprise world. We allow
ourselves to be beaten by the things people tell us will harm us. The current
recession is a good example. The downturn has in reality created many
opportunities for the flexible, adaptable entrepreneur. Too many though remain
oblivious to what is possible, choosing instead to believe the pundits who say
that businesses will suffer.
Before you blame the recession
on your ills, make sure you're being fooled by a placebo!
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VENOMOUS COBRA
The Times last weekend reported that Indian lager brand Cobra 'is in the
middle of urgent restructuring talks'. The paper claims that the brewer's
advisers are in talks with creditors to 'hammer out a deal', saying that
'creditors are likely to have to endure significant losses'.
A tragic story, but for many
perhaps, no big surprise: The Times went on to explain that Cobra has never
made a profit and last year, lost almost £16m on sales of £34m.
Of course there's nothing
particularly wrong with investing in a brand to build volume then sell it on to
a larger organisation with the resources to turn it into profit. But is that a
strategy most of us can afford to follow?
For
the vast majority of businesses, it is wiser to follow the advice of Mr
Micawber, than the example of Lord Bilimoria. That is, to make sure that your
business always spends less than it earns. Few of us can afford to run at a
loss in the expectation of a profitable future trade sale.
Of
course you should have a long term goal, but also make sure you're profitable
today. The one thing every business has in common with Cobra is the ability to
rise up and bite you if you get it wrong!
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'To me, the poor are like
Bonsai trees. When you plant the best seed of the tallest tree in a six inch
flower pot, you get a perfect replica of the tallest tree, but it is only
inches tall.' Muhammad
Yunis, 'Creating a World Without Poverty.'
Yunis founded the Grameen Bank, an organisation that provides
microfinance and more to help people escape from poverty. He also won a Nobel
Prize.
Are you or those you work with pot bound and unable to grow further?
Sometimes you need help to break out. Mentoring can help and right now, if you
are an employer as well as an entrepreneur you may be able to get a grant to help
you. Follow the link to see how that might fund you to work with me!
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WHY BEING A COMMUNITY CHAMPION MAKES SOUND BUSINESS SENSE
Before the recession, companies being nice to people was called 'Corporate
Social Responsibility'. The handy acronym CSR was used to cover a multitude of community
focused, but not necessarily measured activities that made people feel better
about the organisation. It was usually viewed as a cost, not an investment.
Now things are different. Businesses
that develop and demonstrate a strong social conscience are finding it makes
sound economic sense too. Why spend money advertising the benefits you offer
your customers when you can demonstrate those benefits by investing the money
in things they care about instead?
For example:
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People with disability adapted cars choose to
use a garage that employs disabled workers because they are better qualified to
understand their needs.
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Businesses choose to use a training provider
that gives away 10% of the places on its open programmes to voluntary
organisations that will benefit but can't afford to pay.
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Companies choose to buy timber from an importer
who invests in community woodland projects at home and abroad.
Social enterprise is not just
for social entrepreneurs. Investing your marketing budget in becoming a
champion in your customer community can now give a better return on investment
than advertising.
Why not ask me to help you, or the businesses you work with, do just
that?
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AN ANORAK MOMENT
In 1966 I started secondary school and made the four mile journey on the bus. Sad child that I was, I either sat right behind the driver top watch him in his cab or upstairs above his head so I could pretend to drive.
Last week I had my first drive of a 1954 Bristol Lodekka double bus, the very same model that took me to school all those years ago.
It's an ambition that's taken 43 years to realise. Do you make time to realise long held dreams? If not, why not?
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