Tag Archives: Business and Economy

February 9, 2018 · 9:32 am

Back To The Bar

(Only cropped, no other editing.)

(Photo credit: Wikipedia)

It’s Foodie Friday and this week I’m inspired by something the folks at Bacardi are doing because it’s something every company ought to be doing in some form. In the case of Bacardi, they’ve called it “Back To The Bar” and the reason for what they’re doing is nicely explained by their CEO and reported by MediaPost:

“Back to the Bar is our version of ‘walking the factory floor,’” said Mahesh Madhavan, CEO of Bacardi Limited. “It puts our people in touch with what’s happening in our business in real life and real time — something you can’t truly understand behind a computer screen, sitting through a presentation, or dissecting a spreadsheet.”

What every employee is being encouraged to do is to go hang around bars. In fact, they’re shutting down the company to allow employees to do so. While they’re in those bars, they’re to connect with customers and encourage them to try cocktails made with Bacardi. I imagine they’ll also get a lot of feedback on the product, consumer approaches to drink selection and other information which, as the CEO says, you can’t get behind a computer screen. It’s a fantastic idea.

Think about your own business. First, I hope you’re eating your own dog food – that you’re a regular user of your own product or service. If not, why not? As an example, over the years I’ve worked in sports with a few people who didn’t really watch sports or know a heck of a lot about it. How they got hired baffled me. I also worked with a TV executive who said he didn’t ever watch some very popular shows because he “wasn’t the demo.” I get that but I think if your job entails marketing to a particular target you need to understand the target and that includes their likes and dislikes even if they don’t mirror your own.

Next, Barcardi is getting first-hand feedback. They’re talking to people who are in a relaxed environment, probably a cocktail or two down the road, and the chances of getting uncensored feedback are excellent. It’s not a written survey or a focus group. It’s way better than those. Most importantly, it’s first hand. I have always loved the old United Airlines commercial from the late 1980’s in which Ben, a senior executive whose company lost a long-term client that morning, is handing out airline tickets to his managers and tells them to go visit clients. Ben himself is going “to visit that old friend who fired us this morning.” It’s a spectacular reminder not to lose touch with people. Don’t rely solely on email and telephone. You probably see this issue even in how your own office works if you still work in one. People don’t visit – they communicate via email or Slack or some other messaging service, even with the person in the next cubicle.

People thrive when they connect with other people. Your business thrives when it really connects with customers. When was the last time you went back to the bar?

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February 7, 2018 · 11:45 am

My Uncle’s Poetry

My uncle passed away last week. He was married to my mother’s sister and, obviously, wasn’t a young man. Still, a loved one’s death is never easy and due to a lengthy illness, this one was especially hard. I flew to Florida to attend his funeral and to offer love and support to my aunt and cousins. If you’ve ever sat with folks who’ve experienced a loss, maybe you’ve had a similar experience to what went on. There was much talking and reminiscing about my uncle and many old family memories were shared with a mixture of laughter and sadness.

My uncle was a man I’d known my entire life and yet during the time spent chatting I learned something I’d never known. There was a book on my aunt’s table. In it were poems that my uncle had written over the years, mostly to her. It turned out he had also written a play. I was very surprised by this since my uncle was a rather vocal prognosticator on whatever topic happened to be at hand. Sports, in particular, was something about which he was never at a loss for an opinion. He was in an odd way a less knowledgeable Howard Cosell and although he was frequently wrong he was never deterred from speaking his mind. The fact that he had written love poetry to his wife was not exactly something that I thought he’d be doing.

The point of this is to remind each of us that no matter how well we think we know a topic or a person we need to keep an open mind and a readiness to be surprised. If someone had told me that my uncle was a playwright I’d have thought they were joking. That fact that I saw his poetry reminded me how little I really knew or understood about him.

Be willing to be wrong. Accept that there are things you don’t know and seek them out. Get as many facts as you can. Oddly, my uncle would often opine without having some key facts at hand. Even so, it’s his last message to me as expressed through the existence of his poetry that was probably the best thing he ever said to me. Does it resonate with you too?

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February 2, 2018 · 12:16 pm

Building A Better Filter

I came across something this past week that I knew immediately would have to be our Foodie Friday topic because in a flash my reaction went from “duh” to “brilliant” to “life-changing.” It is a coffee filter. That’s right: the thing into which you put the coffee as you prepare your morning cup. It actually can remind us a lot about business.

I was visiting my sister and went to make the morning coffee. As I opened up a filter to place it into the conical thing that holds the ground coffee, I saw something on the white paper of the filter that I’d never seen before: lines. That’s right – pre-measured markings to delineate the levels of ground coffee, much as you probably have on the coffee pot itself for water. I literally giggled with glee. No measuring spoon to wash nor losing track of how many scoops I’d counted out. Just hit the same line each day with the water in the pot and the coffee in the filter and get the same brew, no matter how sleepy I was as I made the pot.

What does this have to do with business? A few things. First, coffee filters are commodity items. Not much distinguishes one filter from another and anything which can do so will remove price as the only variable. In this case, I don’t see evidence that these filters even cost any more than those without lines.

Second, this is clearly a change made with the consumer in mind. After all, it must cost a little something extra to print the lines on the filters as well as to implement a step in manufacturing that wasn’t there before. Based on the filters without measure lines, I don’t think anything had ever been printed on them, so this might even have involved purchasing new equipment to provide a customer benefit. It would have been very easy to say let’s charge more to maintain our margins or to forget the “new” product altogether but some smart manager didn’t.

Finally, it shows us that even something as simple as a coffee filter – literally a folded piece of paper – can provide room for innovation and a better product. All that’s required is to keep the focus on customer benefit and to think outside of the box (or inside the filter!). Those are things any of can and should do.

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