Marc Krisjanous

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Jun200929

Business ‘ruined’ by TV show Target

I have to admit this is my third revision of this post.

Each previous revision was quite frankly too abusive towards the TV3 show Target that I ran the risk of legal action.

You may not have read the articles published on both NZ Herald and Stuff web sites this weekend about Cafe Cezanne and the poor café owners terror experience of nearly losing their business to what appears to be gross incompetency and lack of internal processes on the part of “Target”.

I have never watch the show “Target” and now, after reading about the massive lack any internal processes to double check their facts I will recommend no one watch them.

Everyone in the real world knows how incredibly hard it is to not only start a business but keep it in the black. It takes years and years of hard work and dedication to make it work. Only a business owner knows of sleepiness nights, long hours and zero cash flow.

Then along comes some show called “Target” and it a matter of minutes puts all that hard work at risk.

How can a production with a budget that most small businesses only dream about cause such destruction and get away with it by issuing a silly apology? I would assume that the editors or whoever approved the release of that episode have never owned a business before. They nestle in the lap of employee status where everything is okay and their wages are in their bank accounts on time.

I have talked to few people today about Cafe Cezanne and all state what a wonderful café it is.

In order to help Cafe Cezanne I have done the following and I hope you can help somehow as well:

Wrote this blog post and published it on a business focused web site.
Posted it on our Twitter profile with over 4000 followers mostly of which are NZ based.
Posted a link to the NZ Herald article on another NZ based discussion forum that is frequented by many NZ journalists.
Posted a question to the TV3 Twitter profile asking them why “Target” is still on air.
Rung the owners up to provide my support. (If I lived in Auckland I would also be having lunch there today).

We are currently in the worst recession for the last 6 decades. We cannot let some TV show that shows a lack of incompetency that brings me to my needs still be on air!

Do what you can – ring the Cafe Cezanne owners to voice your support, go to the café for lunch, ring Tv3 and demand they take the show off the air. Anything to help these business owners out!

May200931

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Social Media Explained in Plain English

No one really knows what “Social Media” is as many people use the term for different things. This video however explains in plain English what I consider social media to represent.

May200926

Marc Krisjanous

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Yes! You to can earn a million bucks from your website!

In Seth’s latest blog post he states a simple fact about earning a revenue on the Internet.

A million blind squirrels

My dad likes to say, “even a blind squirrel finds an acorn now and then.” And it’s true. You shouldn’t pick your strategy by modeling someone else’s success. The success might have been strategic and planned, but it’s just as likely to be a matter of blind luck. Someone had to get that big deal, and this time it was him.

The numbing reality of the net is that now we can see all the blind squirrels, all the time. A recent piece in the Times talked about bloggers getting six figure book deals in just a few weeks after posting community-driven goofy websites. It’s easy to read this and say, “I should do that! I could do that!”

What’s missing from the article is that for every 10,000 goofy websites that get launched, one turns into a six-figure book deal and the other 9,999 fade away. If you want to build a goofy website, go for it. Just don’t expect to be the lucky squirrel.

We had the same pattern here in New Zealand with Trademe.co.nz which after being sold for over 700 Million NZD saw the start-up of over a 100 Trademe like sites all believing that they were also going to cash in on the buy up.

This does not happen! Seth states clearly in the last paragraph that for every 1 there is another 9,999 that do not make it.

I put it down to the fact that once there is a leader in a business category (which in the case of Trademe.co.nz is a New Zealand based online trading/auction site) it is extremely hard trying to compete for any reasonable amount of the market pie within the same business category.

“The 22 Immutable Laws of Marketing” book which provides 22 immutable common sense laws for marketing states this clearly.

1. the law of leadership – it is better to be first than it is to be better: “The basic issue in marketing in creating a category (i.e. a given type of product or service) you can be first in. It’s the law of leadership. It’s better to be first than it is to be better. It’s much easier to get into the mind first than it is to try to convince someone you have a better product than the one that did get there first.”

The best thing you can do is find a niche for yourself within a business category that does not exist or does not have a clear leader yet and work on becoming the leader. Once you are “first in the mind” of the consumer it will be very hard for any other business to steal your revenue pie.

Click here to read a summary of all 22 immutable laws of marketing.

Cheers

Marc

May200907

Marc Krisjanous

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My Top Twitter Articles for Business

As we all know there are an enormous amount of articles, blog posts and other commentary on how business can effectively use Twitter.

In order to not forget the great resources I have already located and frequently refer to I have created this post. The post is live in that I will constantly add to it.

First of all for business people wondering how Twitter can help with revenue have a read of this article which mentions that Dell generated over 1 million USD so far from using Twitter.
http://venturebeat.com/2008/12/15/tw…on-in-revenue/

Getting Started

Top 5 Reasons to Tweet
This article provides 5 reasons why you should be looking at Twitter.
http://technmarketing.com/web/top-5-reasons-to-tweet/

Ten Things you Must Know before Using Twitter
Basic usage guide and extra tools to help you with managing Twitter.
http://technmarketing.com/web/ten-th…using-twitter/

Top 5 Steps after Joining Twitter
Now you have joined Twitter and know the basics this article helps you prep your profile such as hints on writing a good “bio” statement and designing your profile page.
http://technmarketing.com/web/first-…ining-twitter/

We are a twittering
A good and detailed article on Twitter by flokka. Gives a good introduction and links to other articles about Twitter.
http://etc.flokka.com/2009/04/23/we-are-a-twittering/

ABCs of Simple Business Outreach Using Twitter
Great article for business including privacy issues using Twitter.
http://www.foxnews.com/story/0,2933,518481,00.html

Do’s and Don’ts for Business

11 Things to Avoid When Using Twitter
Once you have setup your Twitter profile read this article on what NOT to do! Think of it as an etiquette guide for not upsetting people.
http://technmarketing.com/web/11-thi…using-twitter/

The Art of the Twitter Fart
A comprehensive list of things a business should not do on Twitter. This article is fantastic for making you aware that you can damage your brand on Twitter.
http://blog.bwagy.com/the-art-of-the-twitter-fart/

Ten Top Twitter Tips
Actually has some great tips such as “Tweet early, Tweet often.”
http://chep2m.wordpress.com/2008/05/…-twitter-tips/

50 Ideas on Using Twitter for Business
A magnum opus of Twitter tips for business!
http://www.chrisbrogan.com/50-ideas-…-for-business/

10 Twitter Tips for the Workplace
Good solid tips for business
http://www.pcworld.com/businesscente…workplace.html

Tools and Web Site Integration

10 Awesome Ways to Integrate Twitter With Your Website
Integration tips for your desktop and web site.
http://net.tutsplus.com/articles/10-…-your-website/

10 Twitterific tools
Tools to help you manage your Twitter experience.
http://edition.cnn.com/2009/TECH/03/…ols/index.html

Please send me your recommendations via Twitter @BusinessTalk (http://www.Twitter.com/BusinessTalk)

Cheers

Marc

May200907

Marc Krisjanous

0

Having the right people in your team – how a profiling system helped me

I want to share with you what I learned from an event I attended and how it greatly helped the success of my business.

A couple of years ago I attended a Roger Hamilton’s Wealth Dynamics weekend event. I don’t usually attend “wealth creation” seminars however I found this event to be very helpful with my business.

The event focused around a profiling system that Roger has invented based on a 5000 year old Chinese system to profile people using basic elements found on the Earth. Roger applied the 5000-year-old system to wealth generation but I have also applied it to creating a successful business.

Every person has a core profile and two sub-profiles. The core profile defines how you act and think as a person and thus how you can generate wealth by applying the skills that you have inbuilt and that are natural to you.

There are 8 profiles in total and I have listed a brief introduction to each profile below. The two sub-profiles also affect who you are but not as much as the core profile.

As an example my core profile is a “Mechanic” which means I love to improve existing systems to make them better. I love detail and loads of documentation and processes! Any role in business where I can be a “Mechanic” will get me out of bed every morning and give 110% to the role. So for me to be passionate and excited about what I do within my business it needs to be around what a “Mechanic” loves. If I have to do any other task that does not fit into the “Mechanic” profile I will not give it 100%.

So the key message here is find out the profile of each of your team members and make sure they are doing a role(s) that is best suited for their profile so the business gets 110% from each member.

Below are the 8 profiles:

1 – THE CREATOR
Generates wealth from products: Examples include Bill Gates, Richard Branson, Walt Disney

Creators come in 2 different forms, introvert and extroverted. The introverted are the inventors, inventive and able to multi task on many ideas at the same time. Introverted investors include, Thomas Edison, Walt Disney and Bill Gates.

The extroverted creator is a pioneer, innovative but focused, creating not just products but business strategies as well. They are visionaries and motivate others by their drive and innovation. The more they stay in their creative space, the better their creations become. Richard Branson is an example of an extroverted Creator.

2 – THE STAR
Generates wealth from personal brand: Examples include Michael Jordan, Michael Jackson, Michael Schumacher

Stars are creative and extroverted, which means they take their cues from the reaction of those around us. The more they stand out, the more at home they feel, the more they attract. Like Creators, Starts are best when they are left to innovate. But rather than innovate products or systems that they do not have patience for, they innovate and magnify their brand. Stars include the likes of Martha Stewart and Oprah Winfrey.

3 – THE SUPPORTER
Generates wealth leadership: Examples include Jack Welch, Steve Balmer, Steve Case

Supporters are outgoing, loyal and fantastic networkers. Their value is in the heat of the moment, the relationships they create, the wealth of energy, enthusiasm and time they can offer. On their own they will find themselves out-witted by the innovation and timing of others. But given the opportunity to build his or her own team the team can outpace, outsmart and out perform the most quick-witted competitor.

4 – THE DEAL MAKER
Generates wealth from the deal: Examples include Donald Trump, Rupert Murdoch, Li Ka Shing

Dealmakers are generally reactive, acting on opportunities as they happen. Dealmakers can be found aggregating connections within an industry or region. Dealmakers can also be found where there is significant value differential such as property, mergers, and acquisitions. While others may burn relationships to build bridges, dealmakers burn bridges to build relationships. Dealmakers are great connectors.

5 – THE TRADER
Generates wealth from trades: Examples include George Soros, Kirk Kerkorian

Some Traders are introvert and some extrovert. Introverted Traders operate best through data, research, and can make their money in front of a computer screen. Extroverted Traders will trade with people. The sense the highs and lows with people, they can see them in your eyes.

Traders are sensory, reacting to events as they take place. For this reason they are more likely to have a day-to-day strategy, rather than a 3 year plan. George Soros and Peter Lynch make it look easy, but it is their canny sense of timing rather than a fixed system that they make their money.

6 – THE ACCUMULATOR
Generates wealth from appreciation: Examples include Warren Buffet, Paul Allen

The Accumulator is the safest of profiles, relying on a system of incremental growth to achieve wealth.

Many wealth seekers adopt an Accumulator strategy when they first start, but then get itchy feet and move on. The natural Accumulator becomes successfully by patiently sticking with it.

Accumulators do not need a lot of people to make a lot of money. Warren Buffett’s investment company, Berkshire Hathaway only has 15 staff.

7 – THE LORD
Generates wealth from cash flow: Examples include John D Rockefeller, John Paul Getty

Successful Lords are not seen and rarely heard, until they emerge and control an entire industry. Lords such as Carnegie in the 1990’s and Mittal in the 2000’s emerged in control of the steel industry after years of quietly building their empires.

Lords can be found wherever there is a fixed asset that is generating cash. They become the aggregator of cash flow whether it be oil, diamonds, steel property etc. Lords control every aspect of the delivery chain to build great wealth.

8 – THE MECHANIC
Generates wealth from system: Examples include Sam Walton, Ray Krok, Jeff Bezos

The Mechanic is an enigmatic character has the ability to control and manage people without having to demonstrate any charismatic leadership qualities. Creative thinking and systems focus leads to a well-oiled machine that manages for them.

Where the Star emerges, the Mechanic endures. What they build tends to last. They are the endless perfectionist, the Mechanic is always finding ways to make the system simple and smart, whatever the product.

How I applied the Profiles to my Business
After the event I knew I needed to stop selling and employ a person who had a “Star” profile as they would be best suited to sell our products/services. I also needed to get a “Supporter” to help manage the businesses day-to-day running.

This meant I could focus on making our systems, products more and more better which is what I love doing! I had a person who loves to sell and promote the brand and I had a supporter to help manage the running of the business.

Since that event 2 years ago our business has gone from strength to strength because when we need another sales person or creator whatever we get the applicants on the short list to take a profiling test to see that they have the correct profile.

I would recommend to take a bit more look at Rogers profiling system or any other character profiling system for your own business because its important to know what your staff (and you) are love doing.

Below is a link to Rogers profiling application where you can find out what profile you are (cost is $100.00 USD). It’s an affiliate link so if you don’t like the thought of affiliate payment just search for “Roger Hamilton” to get more information.

Wealth Dynamics Profile Test

Cheers

Marc

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