Happy 2010! I wish you all the best, health, success, and prosperity this year and beyond.
I’ve been quiet over the past few weeks mostly because of the holidays, but also because I’ve been insanely busy with strategic branding projects for two clients. People think of a brand in terms of a name and a logo – generally a visual look along with a name that’s recognizable, like Coca Cola or IBM. But Coca Cola and IBM didn’t become what they are from their names or logos.
Here’s how I define a brand: an identity. And an identity is a lot more than a name and a logo. It’s how the company operates, how it’s perceived, how it sees itself. It’s an all encompassing exclusive idea that is embodied in all the offerings and communications, and has the power to change perception and preference. It switches rational analysis to an immediate emotional reaction.
Case in point I: Apple. An all encompassing brand, provoking immediate emotional reactions.
Case in point II: Enron. An all encompassing brand, provoking immediate emotional reactions.
See how powerful a brand is? (yes, a brand can be negative – remember, it’s an identity)
In order to strategically brand (or rebrand) a company, i.e., discovering its identity, three criteria need to be examined:
1) Where is the company at?
2) Where does it need to be?
3) How is it going to get there?
The reason for the breakdown is that the business world is non-static: companies change, product offerings evolve, executives (and therefore their strengths) move around, new markets develop, old markets get commoditized. And sometimes in a short amount of time, a company can find itself in the wrong space in the market with little customer traction and downward revenues.
Where is the company at?
This is probably one of the more difficult exercises for companies to perform (I compare it to therapy). It involves taking a deep look at your strengths and weaknesses in the product line, the service offering, the staff, and the operations to answer the question: who are we and what is our purpose? How an organization identified itself, say, 5 years ago, can be drastically different from its current position. And because of the dynamics I mentioned, this exercise often uncovers surprises along the way (that shouldn’t really surprise anyone).
Where does the company need to be?
This involves taking the binoculars and taking a far and wide look at the market and where the company needs to be. Two major mistakes are made in this exercise:
1) Going after a busy space with a lot of competition (if they’re all selling red balloons, we should be doing the same). This can be the topic of several blogs on its own, but the idea is to move into an empty space: less competition = more money.
2) Not moving far enough from the current position. It’s easy to stick around where you are, but if where you are is such a great space, why aren’t you making money? This takes a lot of guts and ambition, but sometimes where the company needs to be is far away from its current position. As long as the expectations are reasonable and realistic, it’s best to be honest about where the company needs to be regardless of how hard it’ll be to get there.
How is the company going to get there?
Believe it or not, this falls into place faster than most people expect. Once the picture is clear as to where the company is and where it needs to be, the actions that need to be taken become very clear, very fast. This is where change management comes into play: shuffling the staff, redoing the product line, repositioning the company, and communicating internally and externally. This is an emotional process that I’ve written about it in the past, but it is very rewarding with the right tools and processes in place.
The visual identity, corporate messaging, product naming, and a host of other activities that are typically considered “branding” are the result of the changes that occur as the company defines its identity and its place in the world.
This is a scratch on the surface for branding/rebranding companies – there’s so much more that comes into play which makes our jobs more interesting and rewarding. But I want to leave you with this: if someone tells you they are a brand strategist, the first thing you should find out is how much they know about change management. It’ll save you a lot of headache down the line.
Showing posts with label change management. Show all posts
Showing posts with label change management. Show all posts
January 13, 2010
October 14, 2009
Is your organization emotionally ready for change? Some tips for easier change management.
Every once in a while the economy whacks everyone on the side of the head to remind them to shape up, pushing companies into a state of shock. 2008 showed us a perfect example of a good whacking with a major collapse in the financial markets. A year on, the shock has worn off, and it’s time to shake off the dust and march forward. For many companies, this is the time to reevaluate the course of action, reposition the company, or reconfigure the organization.
For most people it’s so much easier to go back to the way things used to be. The thing about change is that it mostly strikes the emotional part of the system, and whoever charts the course, must expect and properly handle the emotional ups and downs of the organization throughout the transition.
Just over the past few weeks, I’ve either been involved with or have witnessed the firing of a CEO, birth of entire organizations, layoffs, and repositioning of companies (yeah, I’ve been kind of busy). Although I personally enjoy the prospects of change, years of dealing with various companies and organizational changes has taught me a lesson or two about dealing with the unsettling factors involved with major change within companies. I’ll share a few of them here.
Deal with the fear of change. Your other option is stagnation which is much more scary. The way you can help the organization overcome the fear of change is to provide as many facts and analyses as is possible. The more knowledge everyone has, the less emotionally reactive they become.
Don’t act out of panic. You’re almost sure to make the absolutely wrong decision. Enough said?
Take things one step at a time. Keep a strategic view, make your plans, then act accordingly. Huge mountains are conquered one step at a time.
Remove yourself from the situation. Pretend like you’re giving advice to someone else. I’m saying this from experience. Something happens when you’re removed from the situation – you become more rational and less reflexive in your decisions. If you have a hard time with this, change management consultants can help you through the transition. Hello!
Get your staff on board during the planning process. You need the affected division heads on board to make successful transitions happen. They need to understand why the change needs to occur, where the organization is headed, and how you will get there in order to transmit the ideas throughout their respective organization. The more time you spend with them before the change occurs, the easier the transition.
Communicate, communicate, communicate. Engage the organization throughout the change process both by talking and listening. This is no time to hide behind your computer screen. Pay particular attention to the quiet ones. They’re the ones listening to everyone else and can provide a wealth of information about the general morale and other on-goings within the organization.
Expect problems. Know that things will go wrong. Your staff will get cold feet, the markets will change, your finances won’t go as planned. It’s OK. Your plan should have wiggle room, but also, don’t beat yourself (or anyone else) up if things go off course. Regroup and pull things back on course. You never know, you might even decide to change the intended course halfway based on the new data.
Not everyone will be unhappy. Whenever I’m presenting to a group about the need for change, I notice a few quietly nodding their heads. Some of your staff is already on board to make these changes happen. Use them to help you in the change process. They already share your vision, and can help you during the transition.
The ending is just as important as the beginning. Once you’ve gone through the change process, don’t let the organization fall back into the old patterns otherwise your efforts will go to waste. Everything will feel wiggly for a while. Make sure all the processes, new systems, and new positions are solidly in place before you relax and grab that martini to celebrate.
I remember during a massive layoff at one of my old employers, the division heads were trained to deal with all kinds of violent behavior, people crying, etc., then one of them passed out during the exit interview for someone he was laying off. No one had thought about the strain on the management staff during the change process. Yeah, fun times.
I’d love to hear about other emotional factors you’ve witnessed during major change at your organizations, and how they were dealt with.
For most people it’s so much easier to go back to the way things used to be. The thing about change is that it mostly strikes the emotional part of the system, and whoever charts the course, must expect and properly handle the emotional ups and downs of the organization throughout the transition.
Just over the past few weeks, I’ve either been involved with or have witnessed the firing of a CEO, birth of entire organizations, layoffs, and repositioning of companies (yeah, I’ve been kind of busy). Although I personally enjoy the prospects of change, years of dealing with various companies and organizational changes has taught me a lesson or two about dealing with the unsettling factors involved with major change within companies. I’ll share a few of them here.
Deal with the fear of change. Your other option is stagnation which is much more scary. The way you can help the organization overcome the fear of change is to provide as many facts and analyses as is possible. The more knowledge everyone has, the less emotionally reactive they become.
Don’t act out of panic. You’re almost sure to make the absolutely wrong decision. Enough said?
Take things one step at a time. Keep a strategic view, make your plans, then act accordingly. Huge mountains are conquered one step at a time.
Remove yourself from the situation. Pretend like you’re giving advice to someone else. I’m saying this from experience. Something happens when you’re removed from the situation – you become more rational and less reflexive in your decisions. If you have a hard time with this, change management consultants can help you through the transition. Hello!
Get your staff on board during the planning process. You need the affected division heads on board to make successful transitions happen. They need to understand why the change needs to occur, where the organization is headed, and how you will get there in order to transmit the ideas throughout their respective organization. The more time you spend with them before the change occurs, the easier the transition.
Communicate, communicate, communicate. Engage the organization throughout the change process both by talking and listening. This is no time to hide behind your computer screen. Pay particular attention to the quiet ones. They’re the ones listening to everyone else and can provide a wealth of information about the general morale and other on-goings within the organization.
Expect problems. Know that things will go wrong. Your staff will get cold feet, the markets will change, your finances won’t go as planned. It’s OK. Your plan should have wiggle room, but also, don’t beat yourself (or anyone else) up if things go off course. Regroup and pull things back on course. You never know, you might even decide to change the intended course halfway based on the new data.
Not everyone will be unhappy. Whenever I’m presenting to a group about the need for change, I notice a few quietly nodding their heads. Some of your staff is already on board to make these changes happen. Use them to help you in the change process. They already share your vision, and can help you during the transition.
The ending is just as important as the beginning. Once you’ve gone through the change process, don’t let the organization fall back into the old patterns otherwise your efforts will go to waste. Everything will feel wiggly for a while. Make sure all the processes, new systems, and new positions are solidly in place before you relax and grab that martini to celebrate.
I remember during a massive layoff at one of my old employers, the division heads were trained to deal with all kinds of violent behavior, people crying, etc., then one of them passed out during the exit interview for someone he was laying off. No one had thought about the strain on the management staff during the change process. Yeah, fun times.
I’d love to hear about other emotional factors you’ve witnessed during major change at your organizations, and how they were dealt with.
August 17, 2009
Ten growth factors for small and medium business (SMB) during the recession
Times continue to be difficult for businesses about a year into this recession. So many small and medium businesses I’ve recently spoken with are either going under or selling out, I’m beginning to take it personally (yeah, it’s all about me!). During good times, anyone can drift along, and during tough times, the weaklings fall off the grid, but during particularly hard times like right now, only the best survive. Being average no longer cuts it.
Reality check: by definition, half of all companies are below average. Where does your company fall on the spectrum?
Best business practices that make stellar companies need to be front and center in hard times as there’s no time to snooze. You and your employees have to work harder and much smarter in order to succeed. Here’s a list of factors that will propel growth during the good times, but must be seriously considered during tough times.
Embrace change. I know it’s cliché, but you don’t have a choice. The road ahead of you has turned and you’ve either come to a screeching halt or headed for the cliff. The only way to survive is to turn with the road. Change can be scary and unsettling for some, but get used to it. A windy road awaits all of us.
Define your target market with laser accuracy. Many of you have drifted along and survived on low hanging fruit, but this is no time to be fuzzy about your target market. Take a giant step back and define your market strategy. Where is your best bang for the buck? Are you headed for where the market is going? Without this, you’re shooting blind hoping to hit the target.
Develop complementary corporate partnerships. I’m a big advocate of corporate partnerships and when times get tough, joining forces with others becomes essential. Some of the best partnerships are with companies that provide solutions complementary to yours into the same target market. A combined sales force selling combined solutions can generate strong revenues.
License your intellectual properties (IP) to non-compete entities. This doesn’t apply to everyone, but to those who develop IP… In a perfect example of working smarter rather than working harder, licensing can increase your revenues solidly over time with high margins. Some companies develop IP and patents without doing much with them. Put your hard earned IP to work and watch your revenues grow.
Boost R&D. Times are not going to remain down indefinitely. When the next “up” wave comes around, you want to be ready with new solutions for the market. This is when weaker companies scale back on R&D and smarter companies invest in their future.
Evaluate all aspects of your marketing operations. The marketing function has transformed exponentially in a very short time. You can’t expect to print some brochures, design a cool website (even with SEO), announce some new releases, and expect the market to come after you. Explore new ways in which you can continue to engage the market (sometimes at a lower cost than traditional marketing methods). Social media is not a fad. It’s here to stay, and it will turn your marketing department upside down.
Evaluate and optimize your sales operations. Make sure you have the best Sales VP your money can buy as (s)he is the one in charge of generating your revenues. Being aggressive is no longer the main success factor in sales. Your sales VP should be strategic and creative, and embody excellent leadership skills to keep your sales staff highly motivated during tough times. Evaluate all aspects of your sales operations including direct sales, telemarketing, channels, ecommerce, etc., and focus your resources on the highest ROI methods. Spend time evaluating new sales and lead generation tools and pick one that best fits your business. If you decide to hire commission-only sales people, make sure they are deeply knowledgeable about your products and your vertical, otherwise they’ll fail and leave within weeks.
Engage your employees and listen. Your employee base is a goldmine of ideas and information about your business. They know your customers, your market, and your operations. Actively encourage them to come up with ideas to improve revenue generating operations, product innovation, cost cutting measures, etc., and listen to them. You’d be surprised at the level of ideas you’ll generate simply by asking. This also gives your employees a great sense of inclusion.
Evaluate your board. The purpose of your board of directors is to help the company’s health and growth. If every single one of your board members isn’t actively involved in the growth of your company, what are they doing there? Pick individuals for your board who can specifically help the growth of your company through their expertise in your vertical, connections to potential clients or partners, or extensive experience running businesses similar to yours. And ask them to get active about your company.
Stay physically healthy. (This is your mother talking!) You need to keep healthy to handle the pressures of working harder while managing change. Stress compromises your immune system and induces depression and anxiety. Regular exercise has the exact opposite effect, and has myriad of other benefits. It’s a slam dunk.
I’d love to hear about other creative improvements you have implemented for growth in hard times, and I invite you to share your ideas here.
Next time, I’ll talk about fund allocation tips for small and medium businesses during the recession. Feel free to subscribe to this blog to get the follow up blog by email (I don’t blog that often so you won’t be spammed).
Reality check: by definition, half of all companies are below average. Where does your company fall on the spectrum?
Best business practices that make stellar companies need to be front and center in hard times as there’s no time to snooze. You and your employees have to work harder and much smarter in order to succeed. Here’s a list of factors that will propel growth during the good times, but must be seriously considered during tough times.
Embrace change. I know it’s cliché, but you don’t have a choice. The road ahead of you has turned and you’ve either come to a screeching halt or headed for the cliff. The only way to survive is to turn with the road. Change can be scary and unsettling for some, but get used to it. A windy road awaits all of us.
Define your target market with laser accuracy. Many of you have drifted along and survived on low hanging fruit, but this is no time to be fuzzy about your target market. Take a giant step back and define your market strategy. Where is your best bang for the buck? Are you headed for where the market is going? Without this, you’re shooting blind hoping to hit the target.
Develop complementary corporate partnerships. I’m a big advocate of corporate partnerships and when times get tough, joining forces with others becomes essential. Some of the best partnerships are with companies that provide solutions complementary to yours into the same target market. A combined sales force selling combined solutions can generate strong revenues.
License your intellectual properties (IP) to non-compete entities. This doesn’t apply to everyone, but to those who develop IP… In a perfect example of working smarter rather than working harder, licensing can increase your revenues solidly over time with high margins. Some companies develop IP and patents without doing much with them. Put your hard earned IP to work and watch your revenues grow.
Boost R&D. Times are not going to remain down indefinitely. When the next “up” wave comes around, you want to be ready with new solutions for the market. This is when weaker companies scale back on R&D and smarter companies invest in their future.
Evaluate all aspects of your marketing operations. The marketing function has transformed exponentially in a very short time. You can’t expect to print some brochures, design a cool website (even with SEO), announce some new releases, and expect the market to come after you. Explore new ways in which you can continue to engage the market (sometimes at a lower cost than traditional marketing methods). Social media is not a fad. It’s here to stay, and it will turn your marketing department upside down.
Evaluate and optimize your sales operations. Make sure you have the best Sales VP your money can buy as (s)he is the one in charge of generating your revenues. Being aggressive is no longer the main success factor in sales. Your sales VP should be strategic and creative, and embody excellent leadership skills to keep your sales staff highly motivated during tough times. Evaluate all aspects of your sales operations including direct sales, telemarketing, channels, ecommerce, etc., and focus your resources on the highest ROI methods. Spend time evaluating new sales and lead generation tools and pick one that best fits your business. If you decide to hire commission-only sales people, make sure they are deeply knowledgeable about your products and your vertical, otherwise they’ll fail and leave within weeks.
Engage your employees and listen. Your employee base is a goldmine of ideas and information about your business. They know your customers, your market, and your operations. Actively encourage them to come up with ideas to improve revenue generating operations, product innovation, cost cutting measures, etc., and listen to them. You’d be surprised at the level of ideas you’ll generate simply by asking. This also gives your employees a great sense of inclusion.
Evaluate your board. The purpose of your board of directors is to help the company’s health and growth. If every single one of your board members isn’t actively involved in the growth of your company, what are they doing there? Pick individuals for your board who can specifically help the growth of your company through their expertise in your vertical, connections to potential clients or partners, or extensive experience running businesses similar to yours. And ask them to get active about your company.
Stay physically healthy. (This is your mother talking!) You need to keep healthy to handle the pressures of working harder while managing change. Stress compromises your immune system and induces depression and anxiety. Regular exercise has the exact opposite effect, and has myriad of other benefits. It’s a slam dunk.
I’d love to hear about other creative improvements you have implemented for growth in hard times, and I invite you to share your ideas here.
Next time, I’ll talk about fund allocation tips for small and medium businesses during the recession. Feel free to subscribe to this blog to get the follow up blog by email (I don’t blog that often so you won’t be spammed).
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