March 2015 - Vol 10, Issue 3
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Uh, That won't fit into the overhead...
I recently received an email from Tripit that informed me that I am in the top 10% of their travelers. Ugh. That explains why I am so tired. Travel is hard, which is why I am redoubling me efforts to help clients maximize their time (and mine) via web and video conference. Still, it was nice of Tripit to let me know...I think.

If you are not familiar with Tripit, it is a great tool for managing travel arrangements and getting them on to your calendar. If you manage travel for teams, this is a major time-saver. You just forward the confirmation email to Tripit and they put it in the right spot. I subscribe to the Pro version, which gets me flight monitoring. I receive text messages on delays and gate changes more reliably from Tripit than I do the airline. I have been using Tripit since 2009 and can't imagine traveling without it.

Back home, Kay and I are still fostering puppies. SInce the last time I posted a puppy pic, we adopted Maizie (on the left). She's now five months old and hanging out with foster Pepper who is about 13 weeks old. Pepper should be moving on to her forever home about the time you read this. I think that makes about ten puppies we have hosted since June.




 

InfoComm Live was Feb 25-26 in lovely San Diego, CA at the Catamaran Resort, which is right on Mission Bay.  It's hard to top last year's location at the Aquarium in downtown Atlanta (after all, we did have Beluga whales swimming up to our meeting room window!), but San Diego in February is a whole [continued]...�



I want to thank our sponsor Nationwide Wholesale Video for making it possible to share a FREE episode of Around the Table with Tom Stimson. This particular installment examines how six different CEOs weave social media into their businesses. Part marketing, part employee engagement, part recruiting - social media is filling some very important gaps in business models.   Watch this episode for FREE

Stimson Group is hosting a six-part webinar series on Sales and Marketing. Part Six is Sales Management: Connecting Thoughts and Actions and airs Friday, Mar 20th at 2pm EST/ 1pm CST.  REGISTER HERE.

If you have missed previous webinars, then just check out the archives at AV-Matters.com. Click on the link, create an AV-Matters Member login, and off you go. Members get access to exclusive content like archived webinars and free episodes of Around the Table with Tom Stimson.

Did you miss last month's webinar?   Then you probably don't know why relationships sales is hindering your growth and profitability. More importantly - you don't know what to do about it!  

Find the archive here.



Thanks for Reading!

Tom

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WEBINAR SERIES: SALES & MARKETING
Sales Management:
Connecting Thoughts and Actions 

Join us for a Webinar on Friday March 20 at 2:00 PM EDT/1:00 PM CDT

 

What You Will Learn:      


This is the final lesson in the six part series on Sales and Marketing. We will tie together all the previous episodes and view the Stimson Group Sales and Marketing program in its entirety. The webinar will focus on the role of the Sales Manager, important do's and don'ts, and how to apply the previous five lessons.

After registering, you will receive a confirmation email containing information about joining the webinar.

 

Only REGISTRANTS of AV Matters website will receive access to the video archive, the handout, and the Complete Q&A Responses on this topic. Create your LOGIN now.

 

Learn More about this and other upcoming webinars here. 

 

bestpracticesBest Practices Blog

 

 

It just struck me as funny the other day when I saw a "Going Out of

Best Practices Sponsor

Business - Everything Must Go" sign on a store that sells used CD's/DVDs. Shouldn't they have announced that their inventory was for sale sooner?

 

The only marketing or advertising I have ever seen for the little shop is this fresh Going Out of Business sign. What they really needed was a "Now Open - Everything Must Go!" sign. I am sorry when any company is forced to shut down. (Assuming they are. There is

a furniture store near me that has has been closing for three years.) I suspect that the used media business is on its way out and I have to believe that the store owners are more than aware of this. However, I have to wonder what they could have done differently.

 

I am a big fan of reality business shows (no big surprise there). Anything with a restaurant or bar makeover is fun for me. I also enjoy Shark Tank because there is are financial valuations and strategic thinking taking place in real time. However, the best of this genre is The Profit starring Marcus Lemonis. Marcus' focus is on "People. Process, and Product". The companies he features on his show are potential investments for him. They generally have a viable product and a solid revenue stream. What he's looking for are ways to improve the company to make his investment grow. He buys potential.

 

The drama of the show is there for entertainment - a delusional business owner makes good TV. However what I am drawn to is the basic business strategy. Marcus spends a lot of energy on marketing, because that is generally the one area that small business owners really don't understand or appreciate. He changes company names, closes locations, opens new ones, remodels stores, consolidates products lines, alters pricing models - you name it - all with a fair amount of resistance from the owners, who are more worried about protecting a few existing customers or out of date assumptions. He can't help everyone. Some just can't be helped. I think Marcus walks out of as many deals as he completes.

 

I like The Profit because it is so real.

 

No, I don't know the whole story on the video store in my neighborhood. There are a myriad of reasons for a small business to fail. Many of them are uncontrollable. A lot of them are avoidable. There are three things you need to know to run a successful business:

 

  1. You have to know how to produce and deliver the products or services you are providing. You have to be an expert, which means you have to keep on learning and improving. Never forget that there is always someone that can do it better.
  2. You need to understand basic accounting and finance. The numbers tell a story and often point out the right and wrong ways to go. Paying attention can help prevent disaster, but understanding can reveal opportunity.
  3. But equally important and most often neglected is that you need to plan and execute effective marketing. It's an investment that you cannot afford to skip.

Any two of the above will keep the doors open, but you really need all three to thrive. Remember, Everything Must Go.


Tom Stimson, MBA, CTS, is president of Stimson Group LLC, a Dallas-based management consulting firm specializing in strategy, process improvement, and market research for the Audiovisual Industry. Tom is a Past-President of InfoComm International and a current member of InfoComm's Adjunct Faculty.
 

 

Closing Thoughts

Here's a few scribbles from the margins:

You can't predetermine your company culture. It just happens. Company Culture is who is you are after you make the choices you need to make. Great Company Culture comes from choosing the paths that make you the happiest.

See you next month, - Tom   

Who's Tom Anyway?
About Thomas R. Stimson, MBA, CTS

Tom Stimson consults with organizations to improve their performance through strategic planning, process improvement, and team development. The Stimson Group provides coaching and tools to companies in the Audiovisual Industry that enable them to define and reach their strategic goals.

Whether you work in the Live Events or the Systems' Integration segments, or serve those companies as a manufacturer or distributor - The Stimson Group provides unparalleled expertise, industry insight, and market research that drive operational efficiencies and increase profitability. 

For more information visit the website.