Trent365

I saw that great quote on @thechrisdo Instagram account recently.

(I've since realised it was first attributed to Peter Drucker)

But I don't like it.

To me, if you take it literally, it suggests that first you create the business, then you create the customer or the demand.

Building a product or service and then trying to convince people that they need it, is hard work.

A much better approach would be that a business exists to service a customer. Not to create one.

Just my 2 cents.

PS: zero disrespect intended to Chris Do, who I reckon is a brilliant brand guy!

#customerdemand #customerservice #businessstrategy

In simple terms, your Strategy is the overall plan of what you're trying to achieve...

Your Tactics are the specific action steps that you take to achieve that plan.

Tactics are what is visible. Strategy often is not.

When we see a competitor doing something clever, we might want to copy them.

But remember, what we're seeing is just the Tactics. 

Without following the same overall Strategy as them, we probably will not get the same result.

Of course, that doesn't mean that we still can't get a good result from simply copying the Tactics.

If the Tactics are sound, then we can absolutely still benefit from copying them.

But if you really want to replicate their success, you need to understand their Strategy too.

#strategy #tactics #competition

The power an impact of a good story is beyond question.

We make our buying decision based on the story around that purchase - either the story being told by the brand...or the story we tell ourselves about it.

Sure, we also look to the utility, functionality, price and a number of other factors.

But really, that's just a way to help us justify the decision we have already made.

As I'm heading down the rabbit hole of Web3 and NFTs, I'm realising this is even more true in this space.

Fascinating stuff.

#storytelling #marketing #NFTs

Hotels like to say that they create a 'home away from home' and that's why their guests chose to stay there.

But most of us don't actually want a hotel to feel like home.

We want it to be better than home. 

We want it to be something special.

They key to success, is giving us something that is familiar, so that it is comforting for us, but not the same.

In a hotel setting that familiarity might come in the form of our favourite snacks in the minibar or favourite soaps & shampoo in the bathroom.

And the same formula, in my mind, applies no matter what business you are in.

Give them something familiar...but not the same.

#familiar #differentiation #marketing

It's very easy to be critical of someone else for living in their own bubble.

'They don't really understand my point of view, because they're living in their own bubble.'

But the reality is, we are all living in our own bubbles.

We take the same route to work...so we have no idea of the challenges faced by commuters on the other roads.

We live in our own bubble.

We shop at the same supermarket...so we have no idea what great deals or cool products might be on offer at the other store.

Again, our own little bubble.

And this is just part of human nature.

I don't necessarily think there's anything wrong with that.

But the next time you're planning to cast judgement on someone else for living in their own bubble...

Just remember...you do too.

#perspective #empathy #understanding

What makes Christmas special to you?

Is it spending time with family?

Or maybe taking a moment to reflect on a spiritual or religious significance?

Maybe it's the joy of giving and receiving gifts?

Or just the peace and quiet of no bloody work emails!

Here's an idea...make a list of all the things that make Christmas special to you and then pick a day during the rest of the year when you're going to focus on just that one thing.

Think of it like a practice run for Christmas.

After all, it'd be a shame to enjoy some of that Christmas spirit throughout the rest of the year too, right?

HO HO HO!

And if you don't celebrate Christmas, you can still do the same for whatever occasion you do celebrate.

#celebration #reflection #joyoflife

Andy Grove, the long time CEO of Intel, once said, 'Only the paranoid survive.'

You need to be constantly looking over your shoulder otherwise someone will sneak up behind you and take your business.

But Hiten Shah put a slightly different twist on this when he said recently, 'Only the paranoid thrive'.

I think that's a better perspective.

Because if you just deliver a really good product or service, you probably will survive.

Just doing what you do and doing it really well, should be enough to survive.

But if you really want to thrive...that's where a little paranoia can come in handy.

#famousquotes #surviveandthrive competitiveedge

A little Self Confidence is a good thing.

A little too much and it can become a bit of a problem.

The same applies to Self Doubt.

A little Self Doubt is healthy. It's constructive.

But too much Self Doubt can be crippling.

If the goal to get to a state of Self Awareness (which it should be) you need to find the right balance of both.

NB: Thanks to Tim Urban for the perspective

#selfawareness #selfconfidence #selfdoubt

These days we seem to be obsessed with instant response times from the businesses we interact with.

If we don't get an instant response, we assume they don't care enough about us, and we take our business elsewhere.

Which begs the question...

Does the market determine what is the right response time or does the business?

The reality is that the market does NOT dictate response times. However, the market does influence expectations when it comes to response times.

If your competitors are responding in a few minutes and you're not...then you're already behind the eight ball.

Unless...you can give them a reason for why they should wait.

One idea would be to setup an auto-responder or your emails or a bot on your website so that every message is replied to instantly.

But in that instant reply, tell them why it will take a bit longer to respond in more detail.

'We want to be thoughtful and considered in all that we do. Give us a few hours to come back to you in more detail.'

Something like that.

#autoresponders #instantgratification #thoughtful

All the Cool Kids today want to be an entrepreneur.

Why slog it out, working for the man, doing something you don't enjoy, when you can be your own boss...and make lots of money? Right?!?

The reality for many, of course, is that they can make more money sticking with their corporate job than pursuing their passion project.

Will they be happy? Probably not.

So, Gary Vaynerchuck's question to you is this...

Would you rather make $200,000 a year doing a job that you hate OR...

Make $65,000 a year as an entrepreneur, doing something you love?

That's the real promise of entrepreneurship.

#entrepreneur #happiness #perspective