Everyone’s Thinking About the Economy We keep hearing about a possible recession, which makes small to medium size businesses (SMBs) in any industry understandably nervous. We forget that the economy cannot grow forever and that up-and-down economic cycles occur historically. With the eventuality of an economic downcycle, your business model cannot only be to operate in good times and wait
Targeted marketing of fabrication production capabilities can be the key to differentiated growth. In 1993, Don Peppers and Martha Rogers introduced a new concept that became the foundation for many of today’s marketing programs. Their book, “The One to One Future: Building Relationships One Customer At A Time,” has become a classic reference for personalized marketing and sales. One industry expert summarized
INTRODUCTION No one knows whether U.S. manufacturers will face a major recession, or a more moderate economic slowdown, in the next two years. The Federal Reserve cannot confidently project our economic performance over this period. ITR Economics, a private blue-chip company that makes its livelihood off economic forecasts, has projected an economic slowdown for 2023 for several years. In our
No one knows with 100% confidence whether U.S. businesses will face a major recession, or a more moderate economic slowdown, in the next two years. The Federal Reserve cannot confidently project our economic performance over this period. ITR Economics, a private blue-chip company that makes its livelihood off economic forecasts, has projected an economic slowdown for 2023 and recession in
The most frequent problem for many businesses is growth. It’s not always easy to concentrate on generating revenues and profits for the current month and the current year while developing new markets and product opportunities which will keep a business healthy. Lacking a defined plan for future growth can put any business at risk and force it to respond to
DITCH THE SALES FUNNEL and GROW REVENUE FASTER, MORE PROFITABLY The model of a “funnel” to represent a sales pipeline is ripe for retirement. A gentleman named E. St. Elmo Lewis is given credit for initiating the idea of a funnel in 1898. It would be amazing if a business model like a funnel would still find relevance 120 years
THE NEW “GROWTH KID” ON THE BLOCK: INTRODUCING HORIZON (ZERO) Since the introduction of Horizon Growth planning in the late 1990’s, businesses which have successfully understood and adopted this multi-year approach to generation of new revenue and profit streams have realized the benefits of forward planning. Horizon Growth planning was introduced in 1999 in a book titled The Alchemy of
“WHEN IS RETURN ON LEARNING (ROL) MORE IMPORTANT THAN ROI?” If you completed a class on finance and accounting, you are likely familiar with Return on Investment (ROI). Are you ready to take the pop quiz on how to calculate it? No? That’s OK, it’s not my objective here or to question your degree. What I do want to do
SEVEN (7) WAYS NOT TO SCREW UP YOUR VALUE PROPOSITION Screwing up value propositions creates a critical risk to the health and growth of your business. How important you think they are might be colored by your personal experience. For me, a value proposition is a powerful summary of who you are and what you offer. It defines what is
What do Bob Dylan, Soundboards, and "Big M" Marketing Have in Common? My wife has always been a huge Bob Dylan fan. Me too, but not like her. Years ago she bought Dylan tickets in the center section for his last concert at the State Theater in Minneapolis. When we arrived at the theater, the usher said, “Oh, there’s a