Monthly Archives: June 2013

Speak In Music

I was had a chat over the weekend with a friend who can speak music. I don’t mean “sing” and that’s not some sort of weird linguistic screw up in my writing. Let me explain what I mean and why it’s important to you and your business.

Rama First Nation - Ojibwe Language Dictionary

(Photo credit: Robert Snache – Spirithands.net)

Think about many of the laughable marketing materials you’ve seen over the years. Generally they fail for a few reasons, one of which is an inability to speak the language of the target audience. I remember when I was younger laughing at companies trying to be “hip.” I still laugh at the messages targeted at really young people when it’s the parents making the buying decision. It’s an inability to speak the language, and it’s just as bad as running English language ads in a country where the native tongue is something else. Of course, there are the classic attempts to speak the native language and failing miserably (the Chevy Nova being marketed in Mexico with a name that translates to “doesn’t go” isn’t great for a car and is my personal favorite). So what do we do?

We try to speak music.  What I mean is that music is a universal languageBach, Mozart, Miles Davis, and others speak to us all – language isn’t an impediment.  Even music that is language-centric can convey a message and emotion – look at the success here of “Gangnam Style” and let me know if you need Korean to “get” the song.

That was the point of the conversation.  We all need to think in more of a universal language as businesspeople.  Sure, some of us are focused on specific segments, but the more “musically” we convey our message and conduct ourselves, the better our chances of success.  My friend was explaining a feeling to me and didn’t use words – just a link to a song.  I got it right away.  It’s the sort of different thinking all of us need if we’re to break through.

And the best part is you don’t even need to buy a dictionary!  Does that make sense?

Enhanced by Zemanta

Leave a comment

Filed under Thinking Aloud

Cronuts

An unlikely source for our Foodie Friday Fun this week – the folks over at Freakonomics. I’m a big fan of both the books and the podcast because their whole schtick is looking at things very differently albeit from an economic point of view.  Today it’s the cronut, an invention by a NYC baker which is a cross between a doughnut and a croissant. As Freakonomics reports:

Cronuts are so popular that lines form at 6 a.m. — 2 hours before the shop opens — and Ansel runs out within minutes. Thanks to the wonders of the Internet (and Craigslist) there is even a cronut black market, with unauthorized cronut scalpers charging up to $40 apiece for home delivery (a mark up of 700%). And of course there are cronut knockoffs appearing all over the world. Ansel has even trademarked the name “cronut.”

So here we have an interesting and, hopefully, common problem – you do invent a better mousetrap although once it’s out there it’s not particularly hard to duplicate.  You can try to protect it via patents or trademarks but the former is costly (and the laws are changing) and the latter is hard to protect for something such as this.  Why?  Because it is almost a “generic” term such as Kleenex or Xerox (tissues and copying, respectively).  The article has a great overview of the laws involved if you’re interested.  So what can you do?

In two words, be better.  Two more:  be smarter.  You are, after, the original, and that’s an edge – sort of like what distinguishes the official sports league websites from all the other sports sites that are out there (scores and stats are commodity content, after all).  People like that – getting the original as long as the original lives up to its reputation (anyone think Hyrdox are better than Oreo’s?  Seriously?).  The inventor has a head start and it’s a small business.  Why blow the profits on enforcing the potentially unenforceable hundreds of miles away from your base of operation?  We don’t take the time often enough to think about the real value behind an argument made in principle.  What fees might come in from licensing the name to a bakery in LA?  What might it cost to get those fees?

I’ve never had a cronut.  I might even break my general eating habits to try one next time I’m in NYC (assuming I can get one).  What I won’t do – and what you shouldn’t either – is sacrifice smart business thinking over some grandiose idea.  Be better, be smarter, and you’ll reap the rewards.  You agree?

Enhanced by Zemanta

Leave a comment

Filed under food, Reality checks

Appearances Matter

I made myself a note to write about a common business situation that can cause a lot of grief if not handled in a smart manner.  Unfortunately, what prompted the note was a situation which was not handled the right way.  I’m talking about conflict of interest and how appearances really do matter.Dunce_cap_from_LOC_3c04163u

When I was in my corporate jobs from time to time I was offered “insider” pricing on some pending IPO‘s.  I was also invited to serve on advisory boards.  These offers came from start-up companies that were looking to do business with my employer and I was under no delusion that the offers were being extended because of my wit and charm or youthful good looks.  I hesitate to use the word “bribe” but I understood that it was possible someone looking at this might think that my loyalty might be by divided – business interest vs. self-interest.

What raises this is a report on a major ad agency CEO being granted stock options in a company that is a vendor to her agency.  These options might be worth as much at $3,000,000 if a planned IPO goes through.  Digiday makes the exact point:

In its S-1 filing, Tremor says any conflicts of interest related to Desmond are and will continue to be avoided because she’s “recused herself from all negotiations” with the company. While it’s unlikely Desmond regularly writes media plans for SMG’s clients, the fact remains she oversees a business that spends millions of dollars with a company she has a financial interest in.

I know from personal experience that even when your boss tells you to ignore his relationships with a vendor it’s hard when you know there’s a friendship or familial relationship.  When those relationships are more than personal friendships and extend into financial dealings, it’s impossible.

Appearances matter.  In this age, one can assume any relationship will come out and be widely known.  Any competitive vendor losing some of the agency’s business will have grounds to cry foul.  Tremor (the vendor involved) will have grounds to scream if the CEO (and now board member) doesn’t live up to her fiduciary responsibilities  It’s a bad, easily avoidable situation for everyone.  Hopefully you’re smarter than this.  Right?

Enhanced by Zemanta

Leave a comment

Filed under Helpful Hints, Reality checks