RIM places its future on super hero cartoons

2011 is a year Research in Motion (RIM) would like to forget. It was the year of their failed Playbook launch with mediocre sales, RIM’s enterprise server crashed twice leaving BlackBerry users out of touch with the world and causing havoc to businesses globally. Not to mention a 75% decrease is RIM’s stock prices.

On New Year’s eve, RIM launched its Be Bold 2012 marketing campaign in an attempt to revive interest in RIM devices, particularly its flagship touch screen BlackBerry Bold, in the United States.

On Monday, as a part of the Be Bold marketing campaign, RIM introduced four cartoon super heroes to be the face of its brand. Gogo Girl can save the day with her “brilliant strategy, a smile or a spatula,” Max Stone is “tough, proud and a little wild,” Justin Steele is “always ready to  stick up for his friends and Trudy Foreal is “not afraid to call it as she sees  it.”

RIM has really lost sight of who their true users are and why they use of their products.  Looking for super heroes to  to act as their spokespeople is not the way to maintain their market share or brand image. RIM’s core business has been on the business market, not the consumer market which is Apple’s focus. Their new cartoon super heroes are more suited for the Apple brand.

RIM needs to get back to basics and focus on its strengths, providing excellent business products for the business market. Using cartoons as the face of  RIM’s  brand does not instill confidence in business consumers that RIM can deliver on its brand promise; providing technology for businesses that they can rely on and trust.

RIM needs to ask itself as a business owner; ”would I really want to place my trust into a company who relies on cartoons or fiction to help me with my business needs? ” For this business owner, the answer is no.

For RIM to remain with this marketing plan using super heroes  to come and save the day will help set RIM on course for a disastrous 2012.

The Buzz About Using Pinterest

2012 has brought about a new buzz of how Pinterest can be used for marketing a business. Pinterest  is an online pinboard that can be used to organize and share things you and the friends of your community love.

Pinterest’s users are 54% female who love to share their favourite things with their friends. The majority of Pinterest members and browsers are shoppers or those with some disposable income, which is interesting to note, because the greatest age demographic is the 28-34 age demographic, which accounts for 28% of their users. If your business’s target market is females, Pinterest is going to be the social trending of the year..

Innovative ways to use Pinterest Pinboards

For the 28-34 age demographic group, the most popular pinboards are wedding pinboards to save  the images of bouquets, wedding dresses etc.

Food Boards are used to feature recipes, and recipe cards, table setting decor, or favourite kitchen gadgets. These boards are for foodies and if you are in the business of selling anything related to food you willl want to seriously consider creating a food Pinterest pinboard to highlight your products or food services and all things related to food.

Travel Board can be used to create a bucket list of travel destinations you would like to entice your friends or clients to view. Images of things to do, palces to dine, hotels etc can be used to entice users to help plan their trips and use your travel services.

Promoting your Products with Pinterest (the right way)   

This is a great video  Promoting your Products with Pinterest(the right way )  by Megan Auman of Designing an MBA is definintely worth a share.

Do you have an exmaple of how you have used Pinterest to promote your business, and would like to share, please post your comments below. We would welcome to hear from you.

When you start any new business there are forces that can pull you in many directions.  The pull  to  start  things right away: business cards, website, Twitter name  or company logo design. But it is the stuff that you have to do is where you really need to begin. It is your business core your key product/service that you are selling. this where it should all begin.

So what is your french fry?

Let’s say you want to open a french fry chip wagon business, you could worry about the ketchup, salt and other condiments, the name, type of vehicle you need or decoration. But the first thing you really need to worry about is your potatoes /french fries. The french fries are the core of your business. Everything else is secondary. A french fry chip wagon  isn’t a french fry chip wagon without the french fries.

You can take away the ketchup, gravy or vinegar, some people may not like ketchup on their fries. But it is the french fry  what makes the business.

Perhaps you what to launch a professional consulting firm, that provides photography for the events industry; again it is the pictures that are the core of your business. Website design, business cards, blog or how you position your subjects all rank second to the pictures. The core of your business really is the photos. Everything else is secondary.

Figuring out your business core

Ask yourself this question: “If I took this away, would what I’m selling still exist?”  Ikea has been very successful at defining their core. Their focus is on home furnishing for living.

So figure out what your french fry is?

Which part of your equation can’t be removed? If you can continue to get by without the/an added  thing, then those things aren’t the core of your business. When you find it, you’ll know. Then focus all your efforts on making your  business core the best it can be. Everything else you do depends on that core business foundation. And success will follow.

How Big is Your Vision Statement and BHAG?

Author Jim Collins coined Big Hair Audacious Goal  or BHAG (bee-hag) to indicate a meaningful, organizational changing goal that gives direction and strategic advantage for years to come.  We all know that goals are vital for everyone, but is it possible to create a BHAG on an small entrepreneurial level? Absolutely.

The driving element of a BHAG is willingness to completely change your mindset and commit to doing something differently from the way you have been doing it.  To Think Big!

A BHAG  it is similar to a vision statement it describes a picture of the company’s future and the direction it is headed. It encapsulates the customer focus and market position it should have.

How do you go about writing your vision statement?

Writing a vision statement should answer the following questions:

• What will the business look like in 3 to 5 years from now
• What things you are going to try and achieve
• What customer needs you are going to address

If you can envision the big picture and are ready to take a bold and life-changing step, then it’s time to develop a BHAG.

Examples of a BHAG

“A computer on every desk and in every home” – Bill Gates

“The perfect search engine….  it would understand exactly what you mean and give back exactly what you want.” Google

“I have a dream that one day this nation will rise up and live out the true meaning of its creed: “We hold these truths to be self-evident: that all men are created equal.” Martin Luther King

Thinking Big

The key to success is doing something EVERY DAY that puts you closer and closer to your goal. Bite off one chunk at a time and you will soon find yourself achieving things you never thought possible.

One little action step at a time… Here’s to your big, hairy, audacious first quarter in 2012!

If you are having trouble kick starting where to begin with your vision statement and BHAG,  contact us for a FREE 30 minute consult on where to start. At Knowledge Bridge, we help bring your business ideas to life.

Website Content Strategy  Checklist

Here are a few things to consider when developing a  website content  strategy for your business to help convert lookers into buyers:

Define your Goals:

What exactly do you want to achieve with your website’s content: members, sales, or just pure information to the members of your community. If you are looking to find more followers, you need to think about what can be created to generate more followers to the website, how can I use social media tools like Facebook, Twitter, LinkedIn or a blog can be used. For example, if you are a cupcake baker you may want to consider posting images of your cupcakes on Flickr.com; or as a building renovation contractor posting a video (link to YouTube) on basic renovation projects like how to install hardwood floor.  Additionally, you can add to your appeal by posting before and after photos of a recent renovation project you completed on Flickr.com. Keep in mind not all social media tools are needed to achieve your business goals .

Continuous updates of your website content

Create a calendar of when you will launch your new content and stick to it so your content always remains fresh. Web content needs frequent updating at a minimal rate of least once every few weeks; you must update our content to keep it fresh and help maintain your web ranking on search engines such as Google or Yahoo.

Think like a Website Content Editor

Website content should have:

• Numerous terms related to the keyword;
• Variations of the your keyword that are highly important to your business;
• Key words that reflect the search terms people are searching for when looking for
  your services;
• Content must be free of errors;
• Approximately four sentences per paragraph.

Keeping Website Content Fresh

Think of new ideas and angles on how to promote your services such has commenting on the recent news, trends and updates of your industry. For example if you are a real estate agent, you may want to comment on the importance of having a home inspection to protect home buyers from any unexpected expenses.

Make the call to action button really big. Offer something you think your audience wouldn’t want – like a free coffee mug or t-shirt.

To find out more about creating a website content strategy for your business contact us. We have been creating website content that sells products and services for our clients for the past nine years.

Having the right mix of ingredients  is the key to marketing to your perfect customer. So how do you go about marketing to your perfect customer?

In order to market to your perfect customers, you have to get to know them. In order
to get to know your perfect customers, you need to spend some time thinking about them.

Who is your perfect customer? What do you know about them? Of course your perfect customers will include a mix of people, but if you can answer the questions below and see the common elements of your perfect customers, you will be able to target your marketing efforts more effectively.

Basic Perfect Customer Questions:

If you were to describe who your perfect customer is, who  would they be?

• Are they male or  female, and what’s their age range? Female,  40 – 55
• What level of education have they reached?  Post secondary education
• What kind of jobs do they hold? Prospective  small business owner, single mother
• Income level: high annual income earner of over $75K
• Spending habits:  Our clients spend 15% of their annual income on education and training, have an entrepreneurial spirit, and are looking for independence.

More questions to ask:

• How do they like to spend their free time?
• Do they have any  experience with the product or service you offer?

• What kinds of problems or key pain points are they currently having that you can
  help them solve?  For example your firm provides a dog walking  service for dual income professionals who work long hours but still want to have a pet.

Learning from your perfect customers

To really understand your perfect customers’ needs, ask for their opinions and feedback. Ask
your best customers out for coffee or lunch, and find out more about them. Consider  online surveys, or informal focus  groups. Poll  your blog  readers if  you have a blog, or send out a survey with your email newsletter.

Connecting  to your perfect customer

Keep your perfect customer  in your mind front and centre with all  your targeted marketing efforts.

Reach  out and fulfil their needs by speaking a customer language that resonates
with them. Using the latest marketing jargon and buzz words may resonate with
you but not your perfect customer.

Use directed marketing tools that reach your target audience be it postcards for seniors who are not online savvy, or Linkedin  ads for young entrepreneurs seeking a business mentor  who rarely read a print ad in the local newspaper.

To create the best marketing recipe to reach your perfect customer, you need to understand who your perfect  customer is, know their needs, and ask for their feedback. Speak in your perfect
customer language and choose marketing tools that reflect their preferred  method to receive information (electronic or print mediums) to ensure that your  marketing recipe remains targeted and successful.

Not sure where to start with  creating your own successful marketing recipe that reaches your perfect  customer? Contact us, we have been connecting our clients to  their perfect customers for the past nine years.

Business Development Bank of  Canada What’s Your Business Worth

Business Development Canada (BDC) uses four methods to determining the value of a business:

1. Asset-based approach
2. Business comparison
3. Company’s past earnings
4. Doing it yourself

BDC suggests you can make your own  estimation by using several of these different ways to value the business.   However, ultimately, the business is worth whatever you think it’s worth, based on the criteria you set forth.

CBC Canada’s Report on Small Business: 

How much is your small business worth? The Art of Business Valuation written by Tom McFeat,  addresses the age old question “How am I doing in my business?”  and “Why as business  owner  would I need to what my business  is worth?” Tom McFeat states the reasons are  numerous  for understanding your business worth including:

• Expropriation
• Tax disputes
• Estate planning
• Shareholder disputes
• Dividing assets in a divorce
• Buying, selling or merging a business
• Litigation support
• Owner’s death

Succession Planning and Knowing Your Business Worth

If you are thinking about selling your business or looking into succession planning? It pays to do your research and find a qualified business valuate.  In Canada, you can find a qualified business valuator to know your business’ worth  through the Canadian Institute of Chartered Business Valuators.

In the United States qualified business valuators can be found though:

1. American Society of Appraisers (appraisers.org)
2. The Institute of Business Appraisers (go-iba.org),
3. National Association of Certified Valuation Analysts (nacva.com).

If you choose to use the services of a business valuator, expect to pay between $3,000 and $5,000 for their services.

CNN Small Business

CNN’s easy to use business’s worth calculator  is one of our favourite tools.

Buying an Existing Business

For some entrepreneurs, buying an existing business represents less of a gamble than starting a new business from scratch.  When you buy a business,  you take over their formula for generating cash flow and profits, customer base, reputation and employees who are familiar with all aspects of the business.  However, determining what the business is really worth, is  ultimately,  what a business owner is willing to sell their business, and a willing buyer who is willing to buy the existing business for the price it is currently offered at.

Formula for Success

If you are looking for a successful formula for running your business, or getting it on the right track give us a call. We have helped associations, real estate brokers, and small business grow their business twice over.

Reality TV shows such as The Dragon’s Den and Shark Tank let aspiring entrepreneurs (aka will be dragons)  pitch their business to a panel of business moguls.  These will be dragons are seeking venture capital and mentors to help grow their business to the next level. The Dragon’s Den and Shark Tank panel of judges decide whether or not the budding business dragons’ businesses are exceptional and need to grow or be burned in the Dragon’s Den or turned into shark’s bait.

In true reality, it really is a dragon’s den out there in the business world: stiff competition, staying financial viable, securing customers etc.  So you best be prepared to answer the questions in a Dragon’s Den or survive the scrutiny a banker when you are seeking funds to grow your business.

How to be prepared to enter into the Dragon’s Den

It takes more than passion to convince bankers or venture capitalist to invest into your business and products. As part of your business plan you  need to prepare you sales pitch, know your numbers, total sales projected revenues for the next quarter, and next fiscal year.

Preparing Your Dragon’s Den Sales Pitch

So you have found yourself in an elevator with a wealthy investor like the moguls in the Dragon’s Den. What would you say about your company in the time it takes the elevator to go from the top floor to the lobby?  A great sales pitch needs to be clear concise and to the point and should include these four components:

1. The Problem Your Business Solves:

“We create promotional marketing packages for bed and breakfasts in leisure markets who want to increase their mid-week occupancy rates.”

2. Who Has the Problem?

“Small innkeepers who, do not have the expertise or time to run, test monthly promotional campaigns to increase their market share among the leisure travel market.”

3. How Big the Market for the Solution Is?

“Currently there are 350,000 bed and breakfast operators who service the business traveller; these owners spend an average $5000 a year on promotional campaign generation (0r $5.2M per year in Canada alone). We currently have 60% market share or $3.15M in annual sales and expect to increase our market by 2% in the next quarter.”

4. Your Qualifications to Run Your Business:

“Our team consists of four partners with more than 15 years of creating award winning promotional packages for the bed and breakfast industry.”

Support in the Dragon’s Den

If you are seeking start or grow your business and want a solid business plan to demonstrate your worth in the Dragon’s Den. Contact us. As a bonus, we are really nice to work with.

* Dragon’s Den is a trademark of CBC Canada

The classic thought to grow a business  is through business connections. It is not what you know, it is who you know. If you make a few powerful friends and nurture these connections  your business will prosper.

Having larger number of acquaintances—who might be called “not-so-close friends too also helps your business grow. As CS Lewis said, “Friendship is born at that moment when one person says to another: ‘What! You too? I thought I was the only one!”
Thus it goes to show friends will recommend your product or service even if they do not have a close relationship with you.

Friends want to be connected to you. Tool such as LinkedIn or Facebook helps us to overcome our primal instinct: the fear of meeting strangers and making a connection. With just one click you can create like interest groups, reach out to like minded individuals who use your products or services.

Four ways you can leverage your weak connections for business growth:

1. Offer a glorious product or service

2. Think “customer to customer”

3. Reach out to non-customers

4. Embrace weak connection technologies

If you want discover business strategies to leverage your business connections or  increase your sales, contact us we are here to help.

Define your Goals:

What exactly to do you want to achieve with your website’s content: members, sales, or just pure information to the members of you community. If you are looking to find more followers, you need to think about what I can create to generate more followers to my website how can I use social media tools like Facebook, Twitter, LinkedIn or a blog. For Example if you are cupcake baker you may want to consider posting images of your cupcakes on Flickr.com;  or as a building renovation contractor posting a video on basic renovation projects like how to install hardwood floors. In addition you can add to your appeal by posting before and after photos of a recent renovation project you completed on Flickr.com. Keep in mind not all social media tools are needed to achieve our business goals 

Continuous updates of you website content

Create a calendar of when you will launch your new content and stick to it so your content always remains fresh. Web content needs frequent updating at a minimal rate of least once every few weeks; you must update our content to keep it fresh and help maintain your web ranking in Google.

Think like an editor.  Website content which contains numerous terms related to the keyword, as well as stem variations of the keyword that are highly relevant to your business and reflect the search terms people are searching for when looking for your services. Content must be free of errors, four sentences paragraphs,

Think new ideas and angles on how to promote your services such has commenting on the recent news, trends and updates of your industry.

To find out more about creating a website content strategy for your business contact us.