When we were kids (yes, we had cars and televisions back then), there was no doubt that the DC universe of superheroes was cooler than the Marvel Universe. DC had Batman and Superman, the two coolest crimefighters, plus we had the Justice League cartoons on Saturday mornings and Lynda Carter’s Wonder Women on TV. DC… Continue reading Do you Prefer Superhero Strategy Lessons from DC Comics or Marvel?
The Pygmalion Trap The Greek myth of Pygmalion, the sculptor who falls in love with the statue he creates, is one of the most enduring stories of all time. The tale shows up in the works of Ovid, the Roman poet who lived in the time of Caesar Augustus. In the 18th and 19th century,… Continue reading Don’t Fall in Love With Last Decade’s Business Model
A man in a well-tailored suit will always shine brighter than a guy in an off-the-rack suit.
– Michael Kors
Mr. Kors may be right, there is nothing quite like a real custom-tailored suit. But it has also been one of life’s luxuries reserved for the fortunate few – a bespoke suit from one of London’s Saville Row tailors will set the owner back at least $2,000 and it could be several times that amount. So, most of us usually settled for an off-the-rack suit, it didn’t fit perfectly, but it was a fraction of the cost.
Is your strategy precise or robust? Precise: “Exactly or sharply defined or stated” (Merriam Webster Dictionary) or “Marked by exactness and accuracy of expression or detail” (Oxford English Dictionary) Robust: “Capable of performing without failure under a wide range of conditions” (Merriam Webster Dictionary) or “Sturdy in Construction” (Oxford English Dictionary) It is with some… Continue reading Strategies to Stand the Test of Time
It’s that time of year again – no, we are not referring to the holiday displays starting to appear in stores which seems to happen earlier each year as the holiday season gets longer. We are referring to the equally long season of budgeting that is ongoing for many of you reading this. CFO Magazine… Continue reading Can you make the headache of budgeting a thing of the past?
We continue to believe that done well, market segmentation is not just a critical marketing tool, but can be the defining element of your overall strategy. In our previous blog post, we shared of the most common difficulties in getting to a workable needs-based segmentation. So what can you do to avoid those mistakes above and unleash the power of an effective segmentation?
In our Grassroots Strategy workshops with clients, the highlight of the week is often market segmentation. Done well, it is one of the most important changes in the way you think about your business and customers – the customers you choose to serve and how you serve them impacts both the revenue and the expense sides of your income statement. But too often, teams struggle to do it well.
Decision making in times of unusual uncertainty is one of the greatest, perhaps the single greatest, challenges of leadership. Navigating the current COVID-19 crisis and crafting appropriate responses has been a challenge for leaders around the world. And whatever happens, we are likely to have years of second-guessing as to what we could have done differently. To some extent this is inevitable – with so many unknowns, it is a certainty that we either over-reacted or under-reacted, deploying certain measures either too early or too late; and we may never know which, as we cannot go back in time and try something different.
With all the major sports leagues shut down, perhaps it is more important than ever that we keep alive that grand American business tradition – the sports analogy. So here it goes: boxer Mike Tyson once said “Everyone has a plan ’til they get punched in the mouth.” At this point in the Covid-19 crisis, that sums up where most companies are with regards to their 2020 plans – we are reeling from being punched in the mouth.
Our hearts go out to all those who have lost loved ones, and our thanks to those who have been risking their lives on the front line fighting this invisible enemy. As we write this, there appears to be a light at the end of the tunnel, people are talking about plans to re-open the economy. But to Mr. Tyson’s point, those can’t be the same plans that we had coming into the crisis. You’ve been punched in the mouth, what do you need to change before the bell rings to start the next round?
What do Rock ‘n’ Roll, innovation and defense technology have in common? If you’ve heard this story, you probably have a guess. If not, it might surprise you to find the answer is one person: Skunk Baxter.
Pricing is one of the most important levers your organization has, therefore pricing decisions are some of the most important it will make. Set the price too high, and you won’t sell anything. Worse yet, set the price too low and you are leaving money on the table.
That leads to the question, what department or function within your organization is in the best position to set the price in order to maximize earnings?