October 2015 - Vol 10, Issue 10
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Are You Worth It?
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It's October and that means it's time for The State Fair of Texas, which has a huge marketing problem - and it is the same problem many of you have. I have been going to the State Fair since I was eight years old and it is a magical thing to behold. Unfortunately the magic is quite old, very predictable, and it presumes I have forgotten what goes on there since last year. In other words, the marketing message is the same as always.
Don't get me wrong, I love the Fair. I would go every year, but I probably won't make it this year. There's nothing new to see - in fact, the Fair touts how cool it is that the same acts appear on on the same stages year after year! Their motto seems to be, "If it was good once, it will be good always." I see less value in that than I did a year ago (or ten years ago).
When I said The State Fair has a marketing problem, I would be more accurate to imagine it has a leadership problem. My perception is that the management is stodgy and younger folks come in with ideas that go like this, "We need to ramp up social media and share short videos of folks telling us their favorite thing to do at the Fair."
(Harrumphs around the table) "Why? Everyone knows who we are and why they come."
"Isn't the population growing every year? Aren't people coming to Texas from other regions - they don't know why to come yet."
(More harrumphs) "We sell every exhibit space and attendance grows every year. It's working as it is."
"But isn't profit shrinking?"
"Bah, we just need to cut more costs. Let's start with marketing..."
It was easy for me to decide to skip the fair this year. Maybe that is what management needs to address?
Change is hard, especially if you think things are working currently. But are they? We kid ourselves that our messaging is understood, but there's always room for improvement. This month I have a new webinar on what makes companies successful. It's going to be a bit painful because everyone is going to recognize something about themselves and their companies that is actively hindering success.
Other Goings On
A new website for trstimson.com is just two weeks away. I'm very excited about the new look, messaging, and content. Along with it will come a new newsletter from me featuring a short blog, video, or tool that will spark fresh ideas for making your business more successful. Look for an announcement in your email soon. ( here's a sneak peek)
InfoComm AVEC is just around the corner. If you have not registered - there is still time left. The AV Executive Conference is an extraordinary experience - I liken it to going back to college for a few days. I attend because I LEARN something every year, MEET great people, and DISCOVER new techniques to become a better manager, leader, and strategist. I hope to see you there.
And LDIShow is next week in Las Vegas. I'll be there Wed through Friday. Email me if you have time to meetup.
To close, this month marks the beginning of my tenth year as a Business Consultant. I can't thank everyone enough for allowing me this opportunity. Wow, what a ride!
Tom
214-553-7077 direct
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FREE Webinar
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Friday October 30, 2015 / 2:00 EST / 1:00 CST
What is a Healthy Company?
- Do you want choices about where and how to grow, what strategies to pursue, what products and services to include?
- Do you want to be attractive to new business, the best employees, and strategic partners?
- Are you ready to be profitable, have cash reserves, and access to strategic credit?
As a business consultant, Tom Stimson helps companies discover a better future, uncover their hidden capabilities, and redefine success. In this live presentation, he will share with you the best practices, practical challenges, and fresh approaches that have helped his clients break out of a self-limiting mindset. Hear about the pains and gains of reorganization, improved market focus, and process re-prioritization.
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Sponsor Profile |
I recently sat down with Angela Alea, President of LASSO, and received a demonstration of their workforce management solution. While there seem to be a lot of products and matchmaking services for professional labor appearing in the marketplace, LASSO got my attention with its ability to share information in real time while leveraging data to forecast true labor costs, travel, and utilization. - Tom Stimson
Tom Stimson: Angela, thank you for sponsoring AV Matters. As you and I have discussed, I have a passion about staffing. My first company was a staffing business for AV Technicians and Stagehands and much of my business career has revolved around putting the best people on jobs and getting them paid. So I was very excited to learn about what LASSO provides. Could you explain what it does and who would benefit from it?
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Angela Alea, President and Chief Sales Officer, LASSO Workforce Management Solutions
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Angela Alea: Of course, and thank you for sharing your knowledge with the industry. LASSO's software addresses a supply and demand issue we see in the Events & Creative Services industry. Our software is built for small and medium sized enterprises (SME) that manage short-term labor for events or other projects. LASSO is a solution that handles many functions that can be challenging for smaller companies with many moving parts, but it's highly scalable and can grow with you.
Tom: Don't most of these companies already have people to schedule and manage part-time support?
Angela: Of course, but making the process efficient and accurate is vitally important. Short-term labor is difficult to find, schedule and manage. LASSO provides a full-cycle solution and gives companies visibility for hiring decisions, whether it's availability, quality, labor costs (accounting for fringe and travel by state), full time vs. part time, or compliance. We also provide Time & Attendance and Payroll solutions that integrate with Scheduling for easy accounting and payment.
Tom: There are so many changes going on in employee classification, Affordable Care Act provisions, and retirement benefits. From the demo it looks like you are trying to address some important reporting needs?
Angela: LASSO gives you the data you need to properly categorize employees, schedule with true cost considered and stay compliant. Tom, as you know, there's a huge change in the market with full time employment declared at 30 hours per week averaged over a look-back period. As a result, some companies are unknowingly not providing benefits to contractors or part time employees who are classified as full time employees according to the law.
Tom: I know that compliance and regulations are important, but what other features in LASSO are your customers most excited about?
 Angela: Based on our many conversations in the market, the headache of scheduling is a huge hurdle, but the uncovered potential savings are shocking once you can actually see the data. Many of the people who we talk to don't know if they've gone in the red on an event until after the fact! Our mobile app is also very exciting; being able to manage your event on the go is a huge benefit.
Tom: I think you had me at potential savings, but mobile app is exciting too. How can someone learn more?
Angela: A demo of our software is the best way to see the real-time changes that are the nature of the business - you'll be able to see the administrator side and our mobile app used by the field team and potential talent for your events. You can request a demo on our website: www.lassoworkforce.com.
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Best Practices Blog |
I would say that most of my conversations with owners about their businesses will circle back to the need for growth. More revenue, more profit, more customers, more market share, more products, more services... And what is almost sure to follow is plea for growth that doesn't involve, well...growing. As in, "Our goal is to grow this year, but not in October because we are already busy that month..."
The simple truth is that in order to grow, you have to do more business than before. You will have to stress the system one way or another. There are no shortcuts, no tricks to soften the impact. You can't just call it "organic" growth and slip it past the team. Real, permanent growth requires preparation, marketing, management, and celebration. And stress. There will be surprises. You'll work late. You'll spend money you did not plan on. You might give up, but you will still suffer the unexpected ups and downs.
Sometimes, companies do grow without forethought, but these are the same companies that shrink unexpectedly, so let's not embrace that paradigm. You do have an alternative. It's called Intentional Growth. It involves identifying the steps that will lead to more business, creating a scalable response mechanism to the demand, and preparing to respond quickly and definitively to surprises along the way. It means choosing the stress that you are willing to deal with. Intentional Growth does not compromise on expectations. You will maintain quality and service. You will apply the pricing model you carefully researched. You will follow through with the marketing even when you are unsure how well it will work. You will say yes to new opportunities and new customers. You will look forward to the surprises. And, you will make changes to the plan when necessary.
Stay positive. Not everyone will like your new direction, but you will find the right ways to help those customers through the transition. You will need capital that you have avoided tapping in the past, but you will call it an investment instead of a 'cash hit'. Some employees may not agree with the plan. You will them every opportunity to make the plan better, but do not negotiate away your goals.
Intentional Growth won't eliminate stress on you and your team, but you can choose what kinds of pressure you are willing to take on. If there is demand for what you do, if you have competition, then you can grow. The question is, will you do the things that assure it?
Tom Stimson MBA, CTS helps owners and management teams rediscover the fun and profit that comes from making better decisions about smarter goals. He is an expert on project-based selling and a thought leader for innovative business processes. Since 2006, Tom has successfully advised over two hundred companies and organizations on business strategy, process, marketing, and sales.
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Closing Thoughts
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"If you put a number on the screen, be prepared to answer for it. Numbers tell a story, but it's your job to put a voice to it."
- Tom Stimson
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Who's Tom Anyway? |
About Thomas R. Stimson, MBA, CTS
Tom Stimson helps small business owners and management rediscover the fun and profit that comes from making better decisions about smarter goals. Tom's clients learn how to move past the bad math and stagnant thinking that overcome so many entrepreneurs.
"My clients often struggle with day to day issues, which hinder their ability to focus on strategic goals or even try new ideas. Together, we will learn how to set aside the noisy distractions of past decisions and make stronger, more strident choices. Before we are through, you will learn to love your business again." -Tom
For more information visit the website.
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