OCTOBER 2012
FEATURING
ENGAGING GENERATION Y IN BUSINESS ARE YOU WINNING THROUGH FAITH, OR FAILING IN FEAR? EMPATHY IN SOCIAL MEDIA
CREATIVITY THE CASE FOR
Contents
Editors note
PAGE TWO
Give me the boy and I’ll present you the man
PAGE FOUR
How many opportunities are you losing?
PAGE SIX
Are you winning through faith, or failing in fear?
PAGE EIGHT
Creativity the case for
PAGE TEN
Increase employee performance and profits in 90 days
PAGE THIRTEEN
Getting seen by your audience online
PAGE SIXTEEN
How to minimise the negative effects of stress
PAGE TWENTY
Empathy in social media Engaging generation Y in business Preparing for the unforeseen Are you missing this one vital tool in your business?
PAGE TWENTY TWO PAGE TWENTY SIX PAGE TWENTY EIGHT PAGE THIRTY ONE
PAGE ONE
Starting a new business? Where do you start? For seasoned business professionals, starting a new business never seems as daunting as it does for the new kid on the block. Just where do you go to find out how to start and run that new business idea? Well you can start online, however with literally thousands of websites talking on the subject you might well be left asking “where do I start and who’s advice do I listen to?” You could get yourself a few books and there are many great books on the subject. Again, where do you start? One of the best places to start is to talk to someone who has already ‘been there and done that!’ You may already know someone. You may otherwise need to approach someone like a mentor or business coach who is ready to sit down with you and start that conversation and help you establish a path forward. Again, finding the right person that will fit with you and your type of business is really important. Planning, in any business is very important, so don’t just rush into this new business. Put as much time into planning this as you can afford. The more you understand this new business before you start the better chance you’ll have of it being a success. Seek as much advice as you can find, again use some wisdom as to who you listen to. Well, if you or someone you know is looking to start up that new business, we want to wish you the best and hope you get some inspiration from the content in the magazine. The Market Share magazine, we hope, will be an inspiration and a source of valuable insight to business teachers, business owners and business ‘gonnabes’. If you have thoughts and feedback regarding the magazine and it’s content we would love to hear from you. So for now, enjoy the mag and we look forward to hearing from you at www.marketsharegame.co.nz or www.facebook.com/marketsharegame MARKET $HARE MAGAZINE
Warm regards
PUBLISHER NICK HINDSON
Nick Hindson Business Evangelist
nick@marketshare.co.nz
GRAPHIC DESIGN & COVER PHOTOGRAPHY
PAGE TWO
TITANIUM DESIGN JULIAN HINDSON KATE HINDSON julian@titanium.net.nz www.titanium.net.nz
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Nick Hindson 027 444 7286 0800 BIZ GAME (0800 249 4263) nick@marketshare.co.nz
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Give me the Boy and I’ll present you
the Man 7 simple principles to grow personal leadership in young children Give me the boy and in 20 years I’ll show
Article by Yvonne Godfrey
3. Encourage thinking and problem solving
you the man!
The nature or nurture debate lives on, but there is no question that our formative years set the scene for the adult we become. We can start developing leadership earlier than we think. 1. Show respect to your kids
Validating children’s ideas encourages them to think up more. They will also learn to think and to solve problems. Children can learn how to use logic, reasoning skills and the instinct to develop solutions by having to solve problems from a young age. When the toy is missing help the child to go through the options of where to look. Don’t just find it for them.
and their friends
Greet children with anticipation no matter how young. Get down to their level. Look them in the eye and smile. Make them feel valued and valuable. 2. Acknowledge ideas and trust children’s judgment
I once ‘lost’ my only car key. I was away from home and frantically called Anna, my grandson’s mother. At five years old Taylor suggested that we should form three teams and look for my key. It turned out to be sitting neatly on the boot for all to see. Great work Taylor!
4. Respect other people’s things and territory
Teach children the value of their own things - toys, sports gear, musical instruments and pets. If they can’t look after their own things, they will never respect anyone else’s. 5. We learn responsibility by being given it
Young people break things. They are clumsy and have little regard for other people’s property. Now apart from that is there any other reason why your 14-year-old can’t mow the lawn? Small kids can put their plate in the dishwasher or the sink and they can make their beds at 5 years old. This is where responsibility starts!
PAGE FOUR
Validating children’s ideas encourages them to think up more. 6. Disciplining the will
7. Accept consequences for actions
The will determines our ability to initiate and follow through on goals and desires which fosters independence. Children begin asserting their will from a baby. It helps them to establish their identity and to ultimately live independently of parents.
Allow your child to accept the consequences of his decisions. Don’t bail your children out. We all make mistakes but being ‘saved’ from every bad move does nothing to make us think more carefully about what we are deciding and choosing.
The will is to be disciplined but not broken. Nobody likes to be disciplined but afterwards, it yields feelings of safety and security. Children who have never been properly disciplined don’t feel whole. They can’t lead themselves and will therefore never lead others.
To contact Yvonne to speak at your school or conference: (w) 09 413 9777 (m) 027 249 5444 (e) yvonne@miomo.co.nz
PAGE FIVE
Article by Colleen Sluiter
How many opportunities are you losing? Critics say that Marketing is hype. The dictionary describes “hype” as: “Exaggerated or extravagant claims. Something deliberately misleading. A deception. Excessive publicity and ensuing promotion.”
It’s not in the name; it’s about whether it’s really in the DNA of your business.
Does your business express the uniqueness already interwoven into the fabric of what you stand for and who you are?
Stop being a look-alike.
Come out from among them. As a marketer who is a strong advocate of ethics and truth I would be horrified if these were the true descriptions relevant to my profession. Despite this criticism, when a business achieves really well, Marketing is attributed with having played a significant part. Without marketing how did more people buy, how did they preserve pricing, and how did they maintain market share? Given that the pie is an established size, how does one remain positioned to receive a growing portion of it? Come out from among them.
Savvy marketers have long been telling businesses to separate themselves if they want to win the price battle. Stop being a look-alike. Come out from among them. Some call it a Unique Selling Point. Since Jim Collins’ books became well read, some talk about the Hedgehog Concept. Many discuss Positioning Statements.
Being like everybody else eats profitability. Without uniqueness you lose business value and significance in the marketplace. People pay a premium for rarity. How to create uniqueness.
The good news is that you can create uniqueness by the value you add. Dr Myles Munroe says in his book Release Your Potential: “The end of a thing is hidden in its beginning”. Here are business examples. If I have a field of potatoes I can sell them for $3 a kilo. If I turn the potatoes into chips I can sell them for $3 a helping i.e. the chip is hidden in the potato. In the same way the car is hidden in the pile of parts; the ground-breaking CEO is hidden in that nerdy bookkeeper you have just employed…the list can continue endlessly.
PAGE SIX
My question is: “What is hidden in your business?”
What strengths, uniqueness, abilities and creativity lie dormant within your business? Are you burying value?
PAGE SEVEN
1. Your business is better than anyone else at something. Do you know what it is you are better at? That’s where the value is and that is what the world is waiting for from you. 2. An original always has higher value than an imitation. An original cannot imitate anyone or anything. What specifically should your business be doing? Add value through rarity. 3. Another comment by Dr Myles Munroe is this statement, profound in its simplicity:
“Don’t bury the potential of your business in the cemetery of your last accomplishment!” There is greater value ahead of you, than what you have already accomplished. What if the caterpillar stopped at step 2? Said another way, don’t rest on your laurels. 4. Add value by letting your people work in the areas of their passion and strengths . 5. A best kept secret to guarantee value for your customers, and profits for you Positively impact your customer’s success . Colleen Sluiter (W) 09 422 0420 (M) 021 838 831 (e) colleen@bigbusinessinsight.com
Are you winning through faith, or failing in fear? Chuck Yeager was the World War II hero who first broke the sound barrier. Everybody who had tried it before had reached a certain speed when the plane started to shake so violently that it seemed as if the plane would explode! Some planes did disintegrate, and, unfortunately, the pilots died. Worldly experience showed that it couldn’t be done, but Yeager want to try anyway. With two broken ribs and in extreme pain, he wondered if his body was capable of holding out under the stress. At seven hundred miles an hour, the plane began to rattle and shake violently. But then he broke through into “a great calm”. He had done it!
Article by Elias Kanaris
Breakout comes before breakthrough
As you progress with your business and things seem to be shaky and unstable, what are you going to do? Will you bale out of the plane and press the ejector seat or will you pluck up the courage to push through that ‘sound barrier’ and get to experience a great calm for yourself? They say that fear is False Evidence Appearing Real. In fact, it can be categorised into two key areas:
1. Fear that you won’t get what you need. 2. Fear that you won’t be able to hold on to what you have.
PAGE EIGHT
“reaching up and grabbing hold of nothing and holding on to it until it becomes something!” Are you living in the faith zone?
4. Focus On What You Can Achieve
I once read a great definition of living in the faith zone by Jentezen Franklin as “reaching up and grabbing hold of nothing and holding on to it until it becomes something!” So, if you feel like you are holding on to thin air, here are five things for you to consider to help you achieve your breakthrough:
Whether you are a skateboarder or a skier, they say that you will travel into the direction that you are looking at. A driver in a remote area will hit the solitary tree or lamppost because that’s where he’s looking. So keep your eye on the prize ahead to avoid a nasty accident!
1. Use What You Have In Your Hands
5. Visualise What Victory Will Look Like
Before you go off and make any further investments, check out what you have around you now. An ancient Jewish story about a farmer called Shamgar says that he killed 600 Philistines using an “oxgoad” - a large pointed stick. They say that it was the only thing he held in his hand.
When the going gets tough, use the art of visualisation to help you pull through. Many successful people will encourage you to use visual messages to help keep you on track. Whether it is a picture of the goal that you are looking to achieve, or a written affirmation of what you are going for, keep it in open view at all times. When fear starts to grip your situation and you are ready to quit, have the faith that you can complete the journey you started and use these five tips to make the breakthrough you desire in your business.
2. Start From Where You Currently Are
Figure out where you are on your journey and plot out a new course to navigate. Even a GPS system will need to know where you are and it will recalculate a new route. Do the same for your situation so that you never get too far off course!
Take care & start lifting the lid on your potential!
Don’t set unrealistic expectations on what you are able to do. An Olympic athlete would have trained for years to gain the honour of competing for his country. So, keep a level head about your activities and step out with faith to achieve a new personal best - not a world record!
Elias Kanris (W) 09 280 4418 (M) 021 615 449 (e) elias@eliaskanaris.com
PAGE NINE
3. Do What You Are Able To Do
Creativity The Case for: As if to confirm ‘Creativity’s rise to the public consciousness, Jonah Lehrer’s excellent book ‘Imagine: How Creativity Works’ has remained a permanent fixture in the New York bestselling list for the first half of this year. Lehrer’s book makes a compelling case for creativity in business by considering examples as diverse as
Article by Lloyd Gutteridge Photography by Julian Hindson
of what Steven Johnson has called the Eureka moment. That supposed instant moment of insight or genius insight, which creates the need, thought or idea. Research has confirmed that in order to be creative, businesses need the ‘right’ working culture, a committed group of collaborators, and most importantly bloody hard work. Resilience rather than instant success is the key to the Eureka moment.
We have to revisit and revolutionize our educational systems
in order to facilitate
risk-taking, collaboration, experimentation and ultimately creativity. Bob Dylan, Pixar and Nike. In these and many other cases, creative processes drove established and new business entrepreneurs or artists to new critical and commercial heights. However, what is clear from Lehrer’s book is that these creative processes were diverse and achieved with considerable frustration. Imagine: How Creativity Works also amplifies the long held belief that creativity is never the process
In Lehrer’s final chapter the argument focuses on education as a launch pad for creativity. In fact in many of the research findings I conducted during my sabbatical in 2011 they concluded the same thing. We have to revisit and revolutionize our educational systems in order to facilitate risk-taking, collaboration, experimentation and ultimately - creativity.
PAGE TEN
Why is the move for greater creativity so important to develop sustainable businesses?
One well-established argument is that with the World Wide Web making knowledge and by assumption - competitive advantage - so easily available to all firms and their competitors, unique successful strategic problem solving has become impossible unless a new creative insight is found. All firms will have the same access to the same tools and textbooks. With growing globalization, economies or businesses that are not ‘ahead of the curve’ will be left behind. As an example consider the launch of the iPhone in 2007 by Apple. It has become an icon of the new century and a category killer in the mobile market. Nokia’s market capitalization fall from $100bn in 2007 to $6bn in 2012 is testament to this, despite Nokia’s market leader status in 2007 in the mobile hand held market. We should not forget that this
market share in 2007 was running globally at over 60% and Nokia did produce Smartphone’s! Moreover, one is tempted to ask whether the iPod ‘killed’ the Sony Walkman/Discman? (We have recently learned from Sir Jonathan Ive - Apple’s chief designer, that the iPhone was in danger of being obsolete even before one sale was made due to early prototype ergonomic problems.) Have I already said that creativity takes time? As a teacher in the secondary school environment I have tried to model creativity both inside and outside the business classroom. Part of my fear is being relevant in today’s rapidly changing world. I often wonder whether I will become structurally unemployed given the rise and spread of online learning? In my final article I will detail my first attempts to be creative and reflect on why I struggled even though the engagement and creativity from my students was clearly evident. Fancy playing with Lego anyone? PAGE ELEVEN
encourage, empower and acknowledge
your employee’s performance, attitude, results
Article by Eloize Tzimas
Increase employee performance and profits in 90 days Follow the 5 Laws of Coaching listed below and you’ll recognize that coaching is likely the most effective way to build employee engagement, skills, motivation, performance and profits. While there are other ways to build skills, such as external or internal training, most of them will require
So what is coaching?
“Coaching is a conversation”. It’s that simple! It’s so effective when applied regularly with your sales people, contact centre frontline employees, support team, and other stakeholders that you may engage with.
Coaching is in fact quick and easy to do
- once you know how. a significant level of resources. The resources required may be an investment in time, money or more frequently both. When delivering training, coaching can be seen as a vital component of embedding new behaviours and skills in the workplace, post training. Coaching, when you know how to do it properly, can take you only a few minutes of your time and requires no additional resources or money invested in it. Coaching is in fact quick and easy to do - once you know how. Of course, there are some traps you want to avoid. Like any skill, coaching can be improved through experience and effort. But once you decide to begin coaching your people your coaching skills and the results you see - will improve rapidly.
• Coaching is about conversations and human beings. • Coaching is about connecting with your employee at a deeper level. • Coaching is about empowering, engaging and supporting your employee to success. • Coaching is about inspiring people to be their best. • Coaching is also about having courageous conversations with employees to get them back on track. So many leaders confuse coaching with mentoring, or performance management, or coaching is only used for underperformers. During my 15 years of coaching clients and designing coaching programs for teams and organisations, coaching has been misunderstood. PAGE THIRTEEN
There are four key conversations you can
Law 2
have with your employee:
Build a Relationship of Mutual Trust.
• Coaching conversation for high performance • Coaching conversation for under performance to get back on track • Coaching conversation on the job - in the moment coaching • Courageous coaching conversation for low-engaged employees
The foundation of any coaching relationship is rooted in the manager's day-to-day relationship with the employee. Without some degree of trust, conducting an effective coaching meeting is impossible. Establish Focus - Clear goals for the coaching session. • Identify employee goals and outcomes.
Now that we’ve established that coaching is a conversation, let’s look at the how.
Law 3 Explore possibilities and encourage,
Again this is simple, use a model that assists with the conversation, there are various models to use, dependent on the conversation you’re having, but here’s a model I have used, especially when encouraging a step change in performance and results with an employees’. It’s a Coaching Conversation Model. Each step uses a series of questions that take you to the next step. The following explains each part of the model. The Coaching Conversation Model • Establish Focus. - Objective of coaching session, or agreed outcome. • Discover possibilities - Exploring possible pathway to the outcomes. • Plan the Action - Of all the options what’s the most compelling to take action on. • Remove the barrier - what could get in the way. • Recap and wrap up - Agreement and accountability Coaching is not a one off meeting, taking the time and meeting regularly with your sales reps, retail employees, new employees just through an induction program all around performance is vital to having a motivated, engaged, empowered team. And finally here are 5 laws of Coaching that you want to always follow: Law 1
empower and acknowledge your employee’s performance, attitude, results, etc.
• Employees generally value having a coaching session that helps them grow and stretch. Spend most of the time actively listening and ask questions. On occasion make suggestions if the employee needs help. Law 4 Plot the roadmap of actions
• Write down the key points of the session, especially the actions being committed to by your employee. And remove barriers that can stop the employee achieving their goals or outcomes. Identify what’s missing, what resources they need and what could get in the way of their success. Law 5 Wrap-up and agreement
• Set up accountability measures, check-ins and next coaching session. Always commit and keep the coaching session you’ve scheduled with your employee. I’ve seen manager’s reschedule employee coaching sessions numerous times, because something else, more important has taken precedence. This will result in the employee not feeling valued. Without fail performance starts to decline.
Pre-Coaching Activity - Prepare, prepare, prepare PAGE FOURTEEN
• Have the facts and figures that you need, get clear on your objective. • List your expectations of both parties up front. • Toolbox at the ready - have templates and any tools you need for the session ready.
For more information on coaching or to enquire about our customised coaching program for new managers go to: www.stepchangetraining.co.nz Eloise Tzimas 027 600 6940
IGNITING A PASSION FOR BUSINESS IN YOUNG NEW ZEALANDER’S OUR GOALS • Grow our economy through business education • Help New Zealanders build better businesses • Increase the financial literacy of our next generation
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NEW ZEALAND’S BUSINESS STRATEGY BOARD GAME
Getting seen
Article by Jennifer Young
by your audience online Imagine you are organising a party. You book the venue, choose the caterer, get a DJ and purchase the decorations to ensure everything looks great. On the day of the party you wait for your guests to arrive; only no one shows up! You suddenly realise you have forgotten to send out the invitations. SEO can be likened to sending out the invitations to your event/website. Search engine optimisation (SEO) refers to the science behind optimising a website to appear higher in search engines for your target keywords. It gets you seen amongst your audience searching for your products or services and drives up your website visitors, which transpires to a likely increase in sales and recognition.
Know that Content is King
Search engines love content, the more content that you can add to your website the better (within reason!). A good analogy for this is the ‘fish and fishing pole’. Think of the searchers as fish and each word on the page an additional fishing pole in the water. The more text you have on a website the more searchers you are likely to ‘catch’. This explains why text heavy sites often outrank thin e-commerce sites. It is important that the content you add to your site is unique. A good idea is to add a frequently asked questions page which you can update regularly or, even better, add a blog to which you post new content regularly.
Make your personal knowledge on your subject known Inbound marketing is now overtaking traditional outbound marketing methods, such as mail-outs, TV and radio in terms of their ROI. This is because with inbound marketing the customer is actually looking for a specific product or service, whereas outbound marketing can be likened to a ‘scatter gun approach’ throwing a message out to the masses in hope of reaching a target audience.
PAGE SIXTEEN
One of the main benefits of the prevalence of inbound marketing is that SMEs now have the opportunity to compete with large business on a much more level footing and with a smaller budget. There are a number of things any SME can implement to help increase its online presence.
Add a Personal Touch
Customers often like personal opinions. Make your personal knowledge on your subject known; this will help you become an authority in the eyes of a searcher/potential customer (for example, through a blog or social media.) Remember Local Search
There are many ways to optimise for local search, one of which is to incorporate geographical terms in your on-page optimisation (i.e. city and country name on the copy within the website). The other thing that is quick and easy to do is register with Google Places, Yahoo/Bing Local and Finda - this allows people to find your business through the map searches.
Track and Analyse Your Results
PAGE EIGHTEEN
Every website owner should have an analytics package installed. Google Analytics is free and easy to install and provides a huge amount of useful information, such as number of visitors, search terms used, country of origin and much more.
Pure SEO are New Zealand’s leading search engine optimisation (SEO) and search engine marketing (SEM) experts. For further details of how to increase visitors to your website, sign up to their free newsletter or give them a call. www.pureseo.co.nz / 09 950 3888
How to Minimise the Negative Effects of Stress Article by Dr Alex Rodwell
In today's often fast paced world, stress is almost a constant. The negative effects of stress effecting wellbeing, job loyalty, satisfaction, productivity and life enjoyment are well documented, can be wide reaching, and often go under the radar. Is the old reactive approach outdated? When should we look for a better strategy?
You age faster under increased stress Five drawbacks to ignoring
(Take note if you have 3 or more of these)
the signs...
1. You are bothered with tiredness or having trouble waking 2. You often crave foods high in bad fats and/or sugar 3. Your concentration and productivity is not as high as it used to be 4. You find yourself feeling 'flat' or 'apathetic', rather than living life to the full 5. You find yourself emotionally reacting to people around you more resulting in stress at home or the workplace
1. You age faster under increased stress 2. It is harder to burn fat or grow muscle under increased stress 3. You are more likely to develop a health challenge 4. The quality of your relationships will suffer 5. You are less likely to be noticed for promotion
PAGE TWENTY
Five signs to watch out for...
What can I do for myself?
1. Take short breaks during your work/study 2. Stand up and have a stretch 3. Drink plenty of water 4. Walk often and choose your food wisely 5. Count your blessings daily - those who count their blessings have more to be grateful for
strategies for dealing with challenge and adversity 4. If you haven't already take yourself and your family to your local Chiropractor to have nerve systems checked for nerve interference or subluxation 5. Take positive action today - it is only in this moment that we can influence tomorrow and our future
Where can stress store in my body?
1. Your muscles 2. Your spine 3. Your mind and nerve system 4. Your breath 5. Your emotions How can Gentle Chiropractic Care assist my family and me?
1. Assist with clearing physical anchors to different stressors 2. Enhances brain power 3. Gives you a mini break - time to relax and recharge 4. Reduced stress, hormone production and rate of aging 5. Enhance wellbeing and quality of life
It is not what happens to you, but how you perceive it that counts
1. If you face a challenge, obstacle and setbacks - it is not the end of days 2. Have faith that you will pull through, and take wise action 3. Surround yourself with people that will love and support you and who you can love and support 4. Look to discover a benefit or learn from your situation, no matter how grave 5. Instead of asking why is this happening to me, try asking a different question - what can I learn from this? And, what can I start doing differently today to get a different result? Dr Alex Rodwell is a low-force chiropractor based in Freemans Bay and the North Shore.
How does your 1on1 Demartini
Method ® Consulting Transform Chronic Stress? 1. Balances perceptions 2. Dissolves stressors, challenge and conflict 3. Awakens gratitude and love of the heart and certainty and presence of the mind 4. Assists people to discover their values, the values of others, and enhances communication 5. Once learnt, it is a tool that can be used for a lifetime - for more info visit www.thegratitudeclub.info What can I do proactively for my family
1. Don't wait until stress reaches a crisis point 2. Don't live in denial - if you are experiencing challenges, ask for help 3. Encourage your children to have positive
Dr. Alexander J. Rodwell B.App.Sci, B.Chiro.Sci. Chiropractor and Wellness Enthusiast Contact me to run a ‘Lunch and Learn’ workshop for your workplace in the Auckland Area! Chiropractor, Wellness Enthusiast The Chiropractice - A Creating Wellness Centre 96 Franklin Rd. / Freemans Bay, Auckland 1005 Ph +64 (0)9 361 3826 www.dralexrodwell.com www.thechiropractice.co.nz email: info@dralexrodwell.com
PAGE TWENTY ONE
and me?
To claim your very own free stress evaluation, simply visit www.mychiro.co.nz
Article by Matthew Clayton
Empathy in social media Social Media is really nothing more than conversation, interaction and information sharing based around the interests of individual users. One thing that I am constantly observing from New Zealand businesses is a lack of understanding of what Social Media actually
Empathy in regards to social media is basically the ability to understand the thoughts, feelings and mindsets of our audience. This empathetic methodology is the central point of focus supported by three pillars - Engagement, Content and Visibility.
The question is no longer
“Should I use social media? “The question is
“How well am I using social media?” is. Don't get me wrong, some companies do it really well; usually the ones who have either very talented young marketing managers or a large marketing and advertising budget to throw around. Traditionally marketing and advertising has been based on the model of Product, Price, Place and Promotion. Sales people have been impulsing consumers through Greed, Indifference, Fear of Loss, The Jones Theory and Sense of urgency for a long time. When we apply these methods to Social Media we usually do more harm to our business than good. Why? Social Media is not designed to be a channel for traditional marketing methods. No one wants to be sold to on Facebook. How many things have you bought from Twitter?
Inspire me, Indulge me, Reward me, Empower me, Entertain me, Inform me. To create successful social media, consider using this methodology. Creating ‘persona’ profiles about your target customers e.g. age group, interests, etc allows you to alter and change your empathetic methodology to suit each persona segment. The customer mindsets of the youth and the old are the same however the interests and mindsets are stimulated by different things. Understanding each persona segment (or demographic if you like the term) allows you to employ the empathetic methodology all the better. Firstly, create your business and brand goals. What are you trying to achieve with social media?
PAGE TWENTY TWO
Social Media is interest based. We engage and share that which we are interested in. When using Social Media we are not consumers - we are communicators. How do we then use Social Media to effectively market and advertise our business, generating positive ROI and increasing sales? We communicate!
The customer mindsets of Empathy are as follows:
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NEW ZEALAND’S BUSINESS STRATEGY BOARD GAME
Be realistic. Secondly, figure out who is going to execute; a good mix of internal industry knowledge and external media expertise generates the best results for companies usually, especially when it comes to building social applications or multiple platform strategies. Remember to figure out who you are and why you are relevant to each customer persona before you start creating content. The more research and planning you do the easier everything becomes.
a cycle of listening, learning, measuring, refining is very important. Remember to keep content short, sweet and simple. Typically, photo and video content gets around 450% more engagement than written content - start using more photos and videos and less written content to instantly improve engagement. When creating content, focus on fulfilling each customer mindset for each customer persona. Ensure you create the appropriate opportunities within your content for engagement.
The next logical step is to start using the support pillars of empathy.
3. Visibility.
2. Content.
The final support pillar of the empathetic methodology is visibility. Think of visibility as the windows to your business or brand. Visibility incorporates both marketing and advertising, as well as the content you are producing. People want to see your business and touch your brand. Social media is simply another window to you - treat it like one. Ensure that all advertising and content is based around the same messages from your brand so that the visibility, or windows to your business, are performing to achieve the same goals. Integration is far better than isolation and consistency is much better than being a one-hit-wonder. Ensure that your traditional media points people towards digital media and vice versa. Lastly, make sure that the visibility of your online presence is up to scratch and that your content is sending the same messages to consumers. Paid social and search advertising is a great way to increase visibility quickly however there are many free methods to do so over a slightly longer period of time.
Content is what you create and share. Great social content is usually formed by creating a conversation around an interest or topic with plenty of calls to action or opportunities for engagement within that content. Rewarding and amplifying user generated content in line with your business goals and creating
So sure, this may sound all well and good but some businesses are still wondering whether they should be using social media. The question is no longer “Should I use social media? “The question is “How well am I using social media?”
1. Engagement.
Too many businesses focus on Facebook 'likes' or Twitter 'followers' without focusing on engagement. If you have 1000 likes and a 0.01% engagement rate you are probably producing some average social content. Small engagement percentages are usually due to a bunch of traditional content being funneled through social channels.
PAGE TWENTY FOUR
So what is engagement? Engagement is the value created by user interaction and sharing of your content. In order to create engagement with your social media you must be present, responsive, consistent and personable. Engagement is an action or behaviour undertaken by a user when exposed to your content. It does not matter if a million people are seeing your message if only 100 are engaging with that message.
Advertisers who employ social media heavily do so for mainly two reasons:
1. The amount of time people spend using social media platforms. 2. The amount of analytical tools available for measuring user behaviour.
The last thing to remember is to have fun and be authentic! Social media is a marvelous tool for business. There are conversations about everything imaginable happening on social media platforms right now - join the conversation! Matthew Clayton Founder / Director
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Without a focus on social analytics, companies are practically wasting their investment in social media. Keep an eye on the various analytical tools at your disposal across the social platforms to see exactly what is working and what isn't. Your initial content strategy is an educated guess - analytics remove the guesswork and give you invaluable data. This is the same for your website. If you are not tracking the traffic on your website, there is very little point having one!
This is an extremely brief explanation of the empathetic methodology and social media however it should give you a good basis on how to use social media successfully. Remember, Social Media platforms are for communication, not consumption. By employing the empathetic methodology and sticking to it, positive mentions of your brand and sales will likely increase. Keep an eye on the various analytical tools at your disposal across the social platforms to see exactly what is working and what isn't.
Engaging Generation Y in Business Generation Y are starting to venture into the business world and the need for your business to remain relevant and appealing has never been greater. What will you be doing in 2012 to make your business a magnet for Generation Y talent? It’s not hard to find opinions and research attempting to define Generation Y’s appeal and perspective on business. It’s not surprising; in a rapidly increasing population the need for business to be constantly aware of the market and innovating can sometimes seem a mammoth task.
Article by Johny O’Donnell
With that comes a new set of opportunities for business. Succession planning has always been a sticky point for many businesses and with rapidly growing demands on business the value of having fresh thinking and open (or shall we say less cynical) minds in your business is invaluable. It’s important to address a common myth of Generation Y’s perceived lack of loyalty. In my experience as a young person, nothing could be further from the truth. The drivers of loyalty may have changed; progressive pay incentives probably have
“if you’re not innovating, you’re deteriorating” But while many businesses pour resources into finding the answers, the truly innovating businesses are leading the way by bringing young people up through the leadership ranks faster than ever before and realising the very real asset fresh innovative thinking is for business in 2012. Across the world we are witnessing an emerging group of young business leaders begin to challenge the traditional notions of business. They belong to a generation that believes there is more to business than profit and they bring with them a whole set of tools (most notably social media) to challenge those tradition notions.
less relevance now than ever but if a company gets it right or at very least opens the door to change then loyalty is a no brainer for their employees. We need to be careful to strike a balance between identifying the common drivers of Generation Y while not attempting to define the values of the most diverse and radical generation to grace business to date. Whilst embracing that diversity it appears there are some common dominators amongst Generation Y that will make for a number of interesting conversations in coming years about the changing role of business. These values don’t belong to
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Generation Y but they appear to be becoming more accepted than our existing notions of what drives performance. Financial incentives will always have their place and are by no means redundant amongst my generation but financial incentives in themselves are not enough to sustain an employee’s interest or gain their loyalty to the business.
Most young people are acutely aware what an asset they are to any business at the moment, particularly in New Zealand as we chase the tail of the social media and online phenomenon. This realisation could create a perception of arrogance from some young people
It’s not easy for businesses to step out of the ordinary, it involves a huge element of risk and can be especially challenging if the traditional means of business are still working well for you. But if you think things are competitive now, you’re in for a shock! My advice to all business owners is be proactive, take leadership and challenge yourselves to make your business a magnet for Generation Y talent. What action will you take in the next 90 days to prepare your business? Johny O’Donnell is one of New Zealand’s leading experts on Generation Y specialising in decisionmaking, volunteering and business.
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One of my favourite quotes “if you’re not innovating, you’re deteriorating” has more relevance in 2012 than ever before. Young people are hungry for change; businesses that live and breathe values, groundbreaking products or services, strong company cultures and the list goes on.
but in reality represents a very real situation many businesses find themselves in, needing tech savvy team members!
Preparing for the unforeseen The best time to prepare for your death is when you're young, fit and healthy. This is usually a subject that people ignore until it is too late and then questions like, “Who will look after the children?” “ How do you want your assets divvied up?” “How will I provide for my loved ones if something happens to me tomorrow?,” and so on become an issue if you do not address them. Don’t leave this very important matter until you are incapacitated or not in the position to get the benefits that will compliment your situation. At that point it may be too late. Consider the following very important points and make sure that you have them in place before something happens. 1) Record keeping and filing system
Make sure that you have one place or file where you can file all your documents. This includes your financial advisers contact details, your will and policy contracts and any information that someone will need to deal with your estate in the event of your death. Also make sure that you have proof of ownership on everything. 2) Financial wellbeing of surviving spouse, partner or children
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This is an area that has been neglected for many years and this is still the case today. If you have minor children, please consider their wellbeing and providing a safe and secure environment, is the least you can do. Consider the changes that will take place in the event of your death and what have you
Article by Braam Swanepoel
done to make provision for your spouse or partner to deal with this new situation financially. Financially secure families are usually stronger and can make better decisions because they don’t have pressure on them to make the decisions immediately. 3) Personal financial wellbeing in the event of disability or trauma
Your biggest asset that you have is your ability to earn. What do you do to protect that? Many people don’t think twice on insuring their cars but they don’t even consider insuring themselves against potential or permanent loss of earnings. How long will your savings last if you lose your ability to earn? What will happen if you have no income for six months or more? Do you or your family need that kind of pressure?
4) Consider life insurance
5) Do you have a will?
Many people argue that if they have a trust they don’t need a will. That is not correct and you still
Braam Swanepoel Kingdom Financial Services Ltd (w) 09 440 9029 (m) 021 546 436 (e) braam@kingdomfs.co.nz
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Life insurance is the cheapest way of making provision for your family and insuring that they will be in the best possible position if something happens. You owe that to your family and that is the least one can do to make sure they are well looked after and are in the position to make good decisions. Taking out insurances such as income protection, total & permanent disability cover, critical illness and family protection benefits cover can help financially if something does happen. Unfortunately bad things happen to good people as well.
need to have a will to handle the personal effects that aren't owned by the trust. You will also need to choose an executor, who could be a friend or family member or a professional executor such as a lawyer or trustee company employee. These are just a few things that you need to consider. Please, do yourself a favor and give us a call for a no obligation appointment or quotation to make a difference in your family today. Thank you for the opportunity.
Are you missing Article by Jeremy Wilson
this one vital tool in your business? Businesses these days use numerous tools and resources to help with growth and vitality, from accounting and technology to networking tools. These are all great processes to have in place and will be positive attributes to your business in numerous ways. However, a very powerful tool, which is necessary for your business to be a success, is your performance dashboard. To achieve successful business growth a business owner needs a business dashboard in order to make clear choices. It will also keep you on track to achieving your goals. Your Key Indicators; Just Like Your Car...
The business dashboard is just like the dashboard in your car. The average car dashboard has displays such as the speedometer, fuel gauge, tachometer, charging system gauge, oil pressure gauge and engine temperature gauge. These displays tell you how the components to your machine are working and when an issue arises the dashboard lets you know, perhaps through a flashing warning light, if there is a problem or if it’s time to check on something. The business dashboard has metrics in place like the cars gauges which will alert you to issues which need to be dealt with, some of which a business owner could easily miss without a dashboard. Relevancy + Frequency = Success
Basically a business dashboard can be weekly or
monthly systems that will help you spot at a glance what is happening in all of the components that are relevant in your business. From business to business the types of metrics in the dashboard will differ, however, the end result is the same, to keep you up-to-date on what is happening in your business and giving you warning time to spot challenges and obstacles in order to find solutions, in good time. Cash Flow Example
A really topical example these days is measuring your cash flow performance and safety levels. For a whole lot of reasons it is very hard to see if you are cash flow positive or negative and by exactly how much. A good dashboard system would let you know this and finetune the business accordingly. Get the system right and you’ll naturally find yourself making the right decisions. Example: A Retail Business
For retail businesses the key point is to sell your product in order to make an income so revenue is an important metric. By comparing your accurate figures, from your dashboard, against your outgoings you can keep an eye on what is coming in and what is going out. You’ll see if more money is going out than there is coming in - and make the necessary adjustments before getting in trouble. A little like slowing down in the car before you pass the nice policeman.
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The dashboard takes away the guesswork and let’s you focus on what you’re good at. Look at the dashboard example above. You can very easily see a number of key metrics immediately, to know where your business is in terms of cash flow, and how close you are to the proverbial cliff (and whether you’ve moved a step towards or away from the edge this month) This is just one example, and what I’ve covered is a base list - a place to start. However, the main point is to find what the most important metrics are that make your business flow and include them in your dashboard.
able to pinpoint what it is. The dashboard takes away the guesswork and let’s you focus on what you’re good at. You get to tell at a glance where an issue is occurring all while understanding the business’ financial position. Overall a business dashboard will help you keep your business on track by allowing you to correct issues which aren’t on track, have up-to-date business data at the ready and keep you motivated to reaching your goals for your business.
Act Quickly, Tweak Later
Note too that you won’t get it right first time, but when you start using a dashboard, you’ll know quite quickly what is right (or not) for your business. Just like when it comes to your vehicle, there is no point in knowing there is a problem but not being
If you’re not sure about where to start in creating your business dashboard, visit the successgroup.co.nz or contact the team and ask about their free business Warrant of Fitness as the first step to construct your very own dashboard.
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