The Jholdas Group

What’s in a name (or names as many companies choose)? Nothing unless you are trying to establish a brand. A brand is more than a name. It is an implied promise, a category of thought that a company occupies in the mind of the public.

When you think Volvo you think safety. When you think Fedex you think dependable delivery. When you think Arlanta Braves you think America’s team.

Companies, especially small ones, need to think very carefully about the space they want to own on the market and brand accordingly. Otherwise youay end up like British owned Rent-To-Kill who did well when they supplied plants to office buildings but fell flat when they acquired US temporary service, Talent Tree.

Bad things happen that companies can’t control. Like airlines. They can’t control weather or weather delays or the cascade of customer problems that come with a monsoon like Atlanta has just experienced. Delta had equipment scattered all over the US and out of position due to the storms and flooding. It happens and, while frustrating, it is acceptable and understandable. Given all that they had going against them today, I am just glad I got to my destination (even though it took a long, long time).

What I’m not OK with, however, is that when there are things that companies can control go wrong. Like attitude. Now, I admit it. I committed the unpardonable sin by not ending my cell phone call when the boarding door was shut; being on a conference call with several key people I planned to end my part of the call politely and hang up. Unfortunately I never got the chance. I was spotted by Frau Blucher (aka the Flight Attendant) who proceeded to confront me with an attitude that said “I’m not putting up with you!” Her exact words were “Did you hear the announcement? That was for EVERYBODY!” followed by a stare that would freeze water.

I’ve thought about this a lot today. Clearly I’m ticked. But I’m also thinking about my business. Things go wrong—things I can’t control. Customers tend to understand those. But what about my attitude? What about the way I speak to people? In the service business (and who’s not in the service business) there is literally no place for bad attitude and rude speech!

1. Renegotiate every monthly expense you have from rent to cell phone bills.
2. Manage your receivables like your life depends on it.
3. Offer discounts for faster payment from your customers.
4. Cut your variable costs by at least 10%; there’s still more to reduce.
5. Refinance all bank related loans for a lower rate and longer terms.
6. Make all purchases via credit card (even vendors) to gain 30 days of float.
7. Make sure you pay off all credit cards monthly to avoid penalties and high interest.
8. Try to work out a settlement with some of your creditors.
9. Travel less; teleconference more for the duration.
10. Use contingent workers in more positions than ever.

The government has invested heavily to translate a Spanish language version of the I-9 and then decided that it can only be used in Puerto Rico. Hmmm. Let’s think about this. 16% of the US population is Hispanic and many don’t speak or read English well. Being able to use a Spanish language I-9 would be so helpful to them but not today.

Now, before you think this is a political blog think again. Are there things we do in our branches or back office that are as nonsensical. Dare to point them out. We, at least, can change!

Sticky refers to how long a person stays on your website. It also refers to how difficult it is for a customer to stop doing business with you or switch to another provider. Obviously the stickier we are the better—but not all stickiness is created equal. For example, I have 2 months left on my contract with Verizon and would really like to switch to ATT so I can get the new iPhone. But I will have to pay a cancellation fee ($175) even though I’ve been a high dollar customer for years. Will I stick? Maybe—but I won’t be happy about it! Sticky shouldn’t be based on contracts and threats. It should be based on providing such a level of service, such value, such benefit to the customer that it becomes a true loss to switch. Now that’s a sticky I can live with.

So the President have a fantastic speech tonight. Sincerely I was impressed and score this a major victory for the Administration. I have to say though that the factually deficient, syncretistic bill he proposed will pass and will ultimately have roughly the impact of Johnson’s failed war on poverty (which only served to create a permanent underclass).

There’s very little that employees shouldn’t know about the numbers of your business (compensation aside) and even less that they can’t understand with a bit of explanation. Try having a company wide discussion of your P&L and letting folks see what’s really going on.

There’s no substitute for being there but technology can give you the next best thing. Check out solutions like Go To Meeting, Go to Webinar, Skype Video, and CynergiSystems’ new product “CQ.”

Most meetings are too long, unproductive, cover too many topics, and leave participants frustrated. One simple way to stop “meeting abuse” is to put a severe time limit on them. If there’s one topic, limit the meeting to 15 minutes and makes sure people have info in advance to avoid wasting time “informing” them at the meeting. When the time is up—stop.