Category Archives: Helpful Hints

August 28, 2017 · 12:06 pm

School’s In!

Today is the first day of school around here. If these kids are like many of the ones I’ve met over the years (and maybe even the two we raised), at some point the inevitable question pops up:

Why do I need to go to school?

As they get older, the question changes a bit (probably because they enjoy seeing their friends at school every day):

Why do I need to learn this stuff? 

That’s our topic today, and I think it’s something that applies to the business world as well. The answer to the first question is pretty obvious, and it’s not just because your parents are exhausted after driving you around all summer and need you gone for a bit. I’m a lot more interested in the second question because I think that most students, parents, and teachers get the answer wrong. You don’t need to learn “this stuff.” I can’t think of a single instance in my adult life where understanding differential equations or the structure of the carbon atom has been required.

So as a public service, I’m going to give you the answer to the second question which hopefully also answers the first. I’ve given it out before but hey, it’s the first day of school and the questions might come up again so you’re welcome.

You go to school to learn two things.

  1. How to locate and verify pieces of information (let’s call them facts) in order to formulate your thoughts.
  2. How to express the thoughts you formulate both orally and in writing to communicate your thinking.

That’s it. Learn those two things and you can pretty much do anything you choose to do in this world. Ask yourself how many business people you know who can do those two things successfully and I’ll bet you also have a list of the best business people you know. In an era when “fake news” is a term thrown around like beads at a Mardi Gras parade, understanding how to determine what news is really fake and what’s just being labeled as such to distract you from facts is critical. Not everything you read in your school books is accurate, but if you don’t have a well-developed BS detector as well as the skills to track down the truth, how will you create accurate thoughts from inaccurate information either in school or beyond?

Please feel free to print this off and hand it to your kids, large or small, who are wondering about school. Feel free to ask yourself if you managed to learn those things along the way as well. If not, maybe it’s back to school for you too?

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August 21, 2017 · 10:59 am

The First 15 Words

Humans generally read at a rate of about 300 words per minute. That works out to about 5 words per second. If those numbers are correct, you’ve already spent that long reading this far. Thank you! There’s a reason why I’m happy about it: you’ve stayed with me beyond the average length of time any of us have to grab someone’s attention.

Research from the Statistic Brain Research Institute found that 17 percent of pages are viewed for less than 4 seconds. It also shows that the average reader’s attention span has declined to 8.25 seconds in 2015 from 12 seconds in 2000. This is, as I wrote a couple of years back, is shorter than the attention span of a goldfish. And while I might be able to get half of you to read my short posts (I lose half of you at 111 words), only a quarter of you will stick with me to the end of a long (593 words) post. That’s why I rarely write a screed of more than 450 words.

Any of us who create content of any sort – ads, articles, videos, or whatever – need to be cognizant that attention spans are going down just as the number of things screaming for that attention go way up. That means we need to personalize our messaging wherever possible and to be sure that whatever messages we’re sending make sense. Be brief and make sure that those first 15 words count. If you have an offer, particularly if you’re giving the reader something, make that offer and give that gift up front. That chances of you earning some reciprocity (they’re giving you attention!) increase that way.

Attention is the currency of marketing and content. The ability to gain and keep that attention is extremely valuable. You’ve got less than 8 seconds and maybe only about 15 – 20 words to get it. Go!

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August 18, 2017 · 11:11 am

Supermarket Sweep

It’s Foodie Friday but I want to talk about Thursday. Why Thursday? That’s the day I do my grocery shopping because my preferred supermarket gives a 5% discount to seniors. Stop snickering – I managed to live this long and I deserve the benefit!

One thing I’ve gotten much better about is saving as I shop. Nothing brings joy to me these days like finding a coupon that I can layer on top of an item already on sale. This happened yesterday with Duke’s Mayo and I was nearly brought to tears. In any event, I thought I might pass along a few things I’ve learned, and as it turns out, many of them have a lot of application to your business as well.

First, I try to make some sort of a weekly meal plan. You’d be shocked how much easier shopping is when you know what you’ll be making in advance. I leave myself some flexibility – maybe the rapini looks good and I’ll swap out the asparagus I’d planned to buy. Maybe I’ll just say “beef” as a protein and rely on whatever I can find that’s on sale or, even better, a “yellow tag” special that’s deeply discounted because it’s near its last day of sale. I do look at the circulars that come on Wednesday to help me plan, and the coupons that come the previous Sunday also guide my thinking. The key is that before I step foot into the store I already know why I’m there and what, specifically, I need to buy.

This sort of planning is something I encourage clients to do with their businesses. Chasing the latest shiny object without some sort of a coherent plan rarely works out well. Yes, I’m a believer in just walking to the meat or fish or produce section, buying what looks good on an opportunistic basis, and going from there, but I’ve found that in general, I do better in the long run (and the wallet) by having a plan. Opportunities will always arise but we should only take advantage of the ones that make sense, given our overall plan.

Next, once I have a plan I go through all the coupons, tossing the ones that have expired and matching the ones that haven’t to items that are on sale or in my meal plan. It’s rare that I purchase anything at full price unless there is a pressing need and I can’t find a brand on sale or with a coupon. Like you, I have preferred brands and I’ll stock up on them when they’re on sale. That sort of opportunistic and volume purchasing is something any business can do. Make commitments to providers for a long term in return for a discount. Don’t hesitate to take advantage of lower costs provided that you’re receiving equal value. By the way, this is how your customers think which is why it’s imperative that you emphasize that value you provide to go along with your reasonable costs.

By the way, even if you don’t get a newspaper, most stores post their circulars online, and there are plenty of free online coupons you can print off and take on your trip. As in business, the key is research, planning, and the careful allocation of capital on those things that are in the plan. Make sense?

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