Business Coaching

By now you may have seen the headlines: “Did Porn Cause the Financial Crisis?” And if you’ve read any articles about it, you’ll know that no, it’s not a joke. It seems that when senior staffers at the Securities and Exchange Commission (SEC) were supposed to be managing the financial system, they were downloading tons of porn, which played a part in the downfall of the U.S. economy.

Come on, guys. Really?

Read the full article here.

Just goes to show that when you think you’re on top of your game and can slack off, you really might not be…business coaching keeps everyone accountable!

Brad Sugars, founder and chairman of the ActionCOACH business coaching firm, is currently on a 52-city tour across North America, giving his 28 reasons why his “Business is Booming.” He’s caught on film talking about the No. 26 reason and strategy, Building a Database, above.What business wouldn’t like to have a bigger database? It’s essential to business to have an ever-expanding database, because that can lead to more referrals and more customers

To see Brad Sugars’ other 27 reasons live on-stage in your city, register here, and use the code LV003 for a free ticket!

Subway is breaking into the breakfast business.

In terms of business coaching, someone is coaching Subway on the path to success.

Subway has launched its breakfast menu, which includes various breakfast sandwich options like steak, egg and cheese and bacon, egg and cheese on a light wheat English muffin, flatbread or a sub, and coffee until 11 am. This has McDonald’s very concerned — McDonald’s is already struggling to compete against Burger King and Starbucks in the breakfast category.

It might be surprising to learn that Subway is causing McDonald’s to sweat, but it makes sense. The sandwich franchise has more than 22,000 locations nationwide, and with this addition to its menu, breakfast could appeal to its existing customer base. In addition, Subway is partnering with Starbucks, another McDonald’s competitor, and serving Seattle’s Best coffee with their breakfast combos.

There is one catch to the whole breakfast business, however: with the economy still down, the demand for on-the-go breakfast is down, too, by 2% according to marketing research firm NPD Group. With less people getting in line for a fast-food breakfast, why are so many players jumping on the breakfast train?

It seems that Subway is planning — or at least hoping for — a mild economic recovery. This way, when the economy does recover and more people are working, Subway will have their breakfast menu in place and, hopefully, will attract more customers because it will already be known.

What do you think? Does Subway have a chance at overtaking McDonald’s in the breakfast category?

Tide created a genius ad that clearly demonstrated the power of its detergent.

Advertising a business can be done in several different ways: networking, direct mail, e-mail, cold calling, magazine/newspaper ads and billboard ads. But you can’t just put up a business’ name, an image and list what they do. They need to put something up there that provides necessary info like that, but also will stay in potential customers’ heads.

In business coaching, and in general, when someone looks at an ad, not only do you want them to think your ad is cool, clever and different, you’ll want them to think that your company is better than the rest – because it came up with that ad.

These ads do a great job of being eye-catching, proving a point in some cases, and advertising their product well:

-When it comes to billboards, some agencies think they should do something big, loud and eye-catching to make a statement. But Tide took a different approach and proved its point much better. On the side of a busy road, Tide put what appeared to be all white boards up, but there were cut-outs of clothing made of cotton with self-cleaner on there, too; after a few weeks, the boards got dirtier, but the clothing cut-outs stayed white, demonstrating the long-lasting whiteness of Tide detergent. This sent a powerful message to everyone driving by that Tide keeps whites white.

-Clear Wireless recently launched a campaign that saw them climb inside the box to think outside the box. As a mobile internet service provider, Clear wanted to demonstrate their wireless network will work absolutely anywhere. So they got a truck with clear sides and set up an office complete with desk, computer and lounging area with a television. Then they hired someone to sit at that desk and “work” while the driver travels the streets of major metropolitan areas. It’s a novel approach that definitely attracts attention as people wonder just what the heck that is that just pulled up next to them at the stoplight.

-Visual metaphors also project powerful messages. Morgan Stanley Dean Witter knew this, and created a print ad that demonstrated what they did as a company through a metaphorical ad: a photo of a guy bungee jumping over a vast cliff over a stream. It also had two arrows; one that read “you,” pointing to the guy, and one that read “us,” pointing to the bungee cord. The message was, loud and clear, that the company will save you during times of risk – just like the bungee cord tied to the guy’s ankles…the only thing keeping him from plunging into the water below.

These ads go to show that in marketing, if you step outside the box and think about how these techniques may be used to deliver your message, you’ll ultimately improve your bottom line.

Zombie brands are easier to market to consumers because they're already known.

If the names Memorex or TDK ring a bell, they should. They were big brands back in the ’80s and ’90s — Memorex produced CDs, portable electronics and home entertainment; TDK created electronic products like EMC components, sensors and power supplies  – and these brands died, so to speak. But now, these “zombie” brands are making a comeback.

And with the recent recession, there are more recent zombie brands that are making comebacks — Sharper Image, Circuit City and Brim, for instance. With new marketing teams in place, and for some, like Brim, new branding companies entirely (Kraft abandoned Brim, but River West Brands bought them), let the revival begin.

Why are zombie brands attractive? People already know the company and its reputation — including their taglines. This slashes marketing costs in half because the consumer awareness is already there.

Built-in success? Only time will tell, but the fact that some of these brands went bankrupt or out of business, but still stand a chance is a great lesson. In business coaching, there can be benefits to be found out of something seemingly negative. These zombie brands could find success again.

You can learn the ins and outs of social media via Web tools.

Social Media exploded and confused many business owners in the process. “What on earth is a blog?” “Who are all these people who want to be my friend on Facebook?”

But it’s not impossible — small business owners CAN learn how to use social media to their advantage. And there’s no need to look to a “social media guru.” Look no further than Web tools already out there, like blogs, webinars and online forums. Check out the article SmallBizTrends.com wrote about it here to find tips small business owners — or anyone — are using to learn the ins and outs of social media.

What else can you learn as a business owner? Click here to find out what a business coaching session might teach you.

Malcolm McLaren, manager of the Sex Pistols, died at 64 of cancer.

There are great bands that are considered legendary, and that changed the way of the world in certain respects forever — the Beatles, Elvis Presley and the Sex Pistols, for example.

But how much change is influenced because of the actual band itself, or the management and promotion of it?

The Sex Pistols are arguably one of the most influential bands of all time, but some of that credit should go to their manager, Malcolm McLaren. According to an article in the Wall Street Journal, without him, there might not have even been a British punk scene to begin with.

McLaren had an eclectic background of designing clothing — even co-owning a store with Vivienne Westwood — and managing punk bands.

The band released the single “God Save the Queen” in May 1977, shortly before Queen Elizabeth II’s silver jubilee celebration. On June 7, the day of the celebration, the band attempted to play the song from a boat outside the Palace of Westminster on the Thames River. The police stopped the performance, which is just what McLaren intended — the debut album, “Never Mind the Bollocks, Here’s the Sex Pistols,” was released four months later and reached the top slot on the U.K. album charts, partly because of the publicity from the Thames River incident.

The band eventually broke up, but McLaren knew how to market the band not only to get the public’s attention, but also to the appropriate niche. The Sex Pistols became a punk sensation.

It’s the same with business coaching, really…clients often have questions about how to market their company or products better. Helping to come up with unique and creative ideas to promote clients is all part of business coaching. And some of those ideas, like McLaren’s idea above, might be off the cuff, but they get the desired results.