Posts in ‘Business Strategy’

Pop-up retail, meet pop-up office

by Marc Watley on January 31, 2011

Gap did it next to their flagship 5th Avenue location in New York.  Method did it in San Francisco’s Union Square shopping district. (Method, those funny teardrop-shaped bottles of good eco-friendly soaps and cleaners found at stores like Target and Whole Foods).  You’re likely most familiar with Boo! – The Halloween Store that ‘pops up’ every fall.  Right – now I know you’re with me.  Pop-up stores are seemingly everywhere these days, and if retailers can enjoy success with these temporary locations, why not B2B-focused organizations?

The beauty of a pop-up office is the ability for a growing company to take full advantage of high-visibility retail space, making a high-impact presentation and increasing exposure to prospective customers in a particular market. Think of it as your booth at a 90-day-long trade show.

Last November, BusinessWeek did a story on pop-up stores and interviewed Erik Joule, Levi Strauss’ Sr. VP of Merchandising. “Success is exposure.” Erik said.  His Levi’s ‘workshop’ pop-up space in Manhattan reportedly draws 3,000 visitors each week.  Procter & Gamble apparently enjoyed similar success with their pop-up initiative, drawing some 14,000 visitors in just ten days!

Think about it: Let’s say your business is a Software-As-A-Service (SaaS) company, and you’re launching a software development and testing application focused on growing technology companies.  You’re based in, say, Dallas, but you desperately need exposure to – and presence in – Silicon Valley in order for your new product to succeed. You also know that University Avenue in Palo Alto or Castro Street in Mountain View, for example, are both hotbeds of Valley activity – with everyone from Googlers to Facebookers to VCs constantly rushing along these thoroughfares to coffee/lunch/dinner meetings.  These are the exact folks you need to reach, and ideally you’d like to have a company presence with proximity to one of these two areas.  Here’s how I’d go about this:

  1. Location. Find a small, high visibility vacant storefront on one of these streets and arrange for a temporary lease (with an option to extend if possible). With luck, I might be able to negotiate down to 50% of the market lease rate.  I might also consider reaching out to the local Chamber of Commerce, whose goal is to have zero vacant spaces in these busy areas and who might offer leverage during negotiations with the landlord.
  2. Strategy. I’ll work with a retail design professional to create my ‘storefront’ for maximum impact. (A local art college would be a good place to start, given they typically employ ‘working’ faculty.) Ideally, I’d want to have an open, inviting area for all passers-by, perhaps with large monitors looping mini-commercials of my new product.
  3. Move in. Gather one or two of my Dallas team, hop on a plane, and ‘move in’ to the new location. I might also consider bringing on a local sales rock-star with a solid track record of winning SaaS deals in the Valley to help with lead generation.
  4. Marketing. With the location and team in place, we’ll need lots of PR for the new pop-up shop. Enter social media: Facebook page. Press release. TechCrunch story.  Tweets galore.  I think you get the picture.
  5. Launch! Now to invite as many folks as we can find to our launch party (yes, with cocktails), barking on the street if I have to.  We’ll schedule and host regular interactive lunch-n-learn product demos, offering something a bit higher-end than pizza for lunch.  The door is always open, presenting a standing invitation for all puzzled-looking pedestrians to come on in.

Right now is a particularly good time to consider a pop-up office. Despite the recent corner-turning of the economy, most cities’ central business districts still have plenty of empty storefronts and ground-level offices. Aside from taking long walks through central business districts of prospective cities (which you should do), there are several online resources available to help find available retail spaces for lease; a couple that immediately come to mind are Rofo and Pop Up Insider.

Imagine your delight in giving directions to a prospect: “We’ve taken over the old Kenneth Cole location – you know, at the corner of Fifth and Main?” Oooh…was that a light bulb I just saw illuminating above your head?

Week In Review : Jan 23 – Jan 29, 2011

by Magesh Tarala on January 30, 2011

The Origin of Leaders #5: Habits. Routine sets you Free!

by Conor Neill, Jan 24, 2011

Aristotle says “we are what we habitually do”.  Who I am and become is directly related to my daily habits! For instance, you are not a smoker if you smoke 1 cigarette.  You are not a smoker if you smoke 2 cigarettes.  You become a smoker at some point where it becomes a daily thing! As the routine is repeated more and more regularly it takes less and less effort or self-discipline to begin and complete the routine. more…

Project Reality Check #6: Shall we Dance? Managing Change Orders

by Gary Monti, Jan 25, 2011

Over the years, PMI® has shown in the Guide to the Project Management Body of Knowledge® more and more acceptance of the need to address change as the project progresses. Why? Stakeholders rarely understand everything needed to address their needs. Regardless of the level of detail and planning brought to a situation there always is some variance in performance present. This is where change orders come into play and why they are so important. But remember, it is dangerous to believe enough change orders will compensate for vague contracting, lack of planning, and little or no discipline. more…

Social Media and Tribes #27: Gen Y changes TV viewing experience

by Deepika Bajaj, Jan 26, 2011

Gen Y watches over 3 hours of TV a day, but it’s not a couch potato experience. They’ve turned TV viewing itself into social media. If you see them watching TV, do not assume that that is ALL they are doing. Check how they are texting, commenting and tweeting. They don’t just watch a movie, they are sharing, collaborating, distributing and connecting. more…

Flexible Focus #38: Flexibility without Forcing

by William Reed, Jan 27, 2011

When your body is stiff, then physical stretching can feel more like pain than gain. A similar thing happens mentally when your values or beliefs are forcibly stretched beyond their limits. The key to expanding your comfort zone is to have more degrees of freedom. When you have more degrees of freedom in your mind and movements, then you experience flexible focus in action! more…

Leader driven Harmony #9: Don’t Be a Baby Bird (PartI)

by Mack McKinney, Jan 28, 2011

As the parent bird swoops in, the baby birds open their beaks and the parent plops a juicy worm or insect right into junior’s gaping mouth.  The baby just sits and eats.  The parent does all the work. Are you one of those?. more…

Week In Review : Jan 16 – Jan 22, 2011

by Magesh Tarala on January 23, 2011

Still busy? – Even with all the productivity enhancing gadgets

by Vijay Peduru, Jan 17, 2011

A recent article in NYT  talked about how kids are wired for distraction by always being online . Every Gadget they use is connected to the internet and the kids are always distracted. It is not just the kids even we grown-ups do this. Each one of us wants distractions and these tools are just another avenue for our distractions. We want distractions because we want to escape from things which are bothering us. Choose to face the problem and use the time previously used for distractions for more enjoyable tasks. more…

Free eBook: Freedom, money, time and the key to Creative Success

by Himanshu Jhamb, Jan 18, 2011

In Mark McGuinness’ own words: Creative people are those who work hard, but because they love what they do, it doesn’t feel like work. Your key to success doesn’t cost a dime… Get your FREE copy of Freedom, Money, Time and the Key to Creative Success by clicking here OR by going directly to the download page. It’s a light read – 34 pages in all. And it’s full of practical advice you can apply to your own situation. more…

Project Reality Check #5: The Devil is in the Details

by Gary Monti, Jan 19, 2011

Expected Monetary Value (EMV) connects the customer with the team. This tool is very powerful. At the core, an EMV calculation comprises probability times impact to get a weighted number. The EMV model is a great way to connect with stakeholders and work rationally while keeping relationships intact. more…

Flexible Focus #37: Navigate with Nanba!

by William Reed, Jan 20, 2011

Earlier in this series in an article called Mobile Mandala, we introduced an exciting new iPad Application called theMandalaChart for iPad, which is available in the iTunes Store. We are proud to announce the first of these templates, a set of 30 Mandala Charts for the iPad application called the Nanba Diary. These pages explain how the MandalaChart and Nanba Diary work for you. more…

Leader driven Harmony #8: Get a FIRE going in Your Belly!

by Mack McKinney, Jan 21, 2011

Let’s pretend you have a major, life-threatening disease and are seeking treatment.  Do you want to be treated by a physician, physician’s assistant or nurse who just kinda likes their job?  Who just muddles through the day?  Who is about as good at the job as most other physicians?  OF COURSE NOT! Same applies to you if you are providing some service or product to someone. In this article Mack tells you how do you get to be the best and how you can rise past the others in your field and become the “go-to” person?. more…

Before I talk you into shelling out $1,000 for this e-book (just kidding – it is Free to download!), a little bit on what this book is about:

  • Creative Success and
  • More Freedom, Money and Time for you.

Being Creative

Are you a creative person? Well, before you answer that question, it stands to reason we first define what being a “creative person” means. In the author’s (Mark McGuinness) own words:

“By creative people, I mean people who take creative approach to work and life. People who work hard, but because they love what they do, it doesn’t feel like work.

They may be artists, writers, musicians, actors, filmmakers, coaches, scientists, cooks, entrepreneurs, healthcare professionals – or tackling complex, meaningful, inspiring challenges in other fields.

If this sounds like you, read on.

Why do creative people need Freedom, Money and time?

Creative people need three things to be happy.

  1. Freedom – to do what you want, when you want and how you want it. Not just in holidays and spare time – but also doing meaningful work, in your own way.
  2. Money – to maintain your independence and fund your creative projects. Of course you want a nice place to live, but you’re not so worried about a bigger car than the guy next door. You’d rather spend money on experiences than status symbols.
  3. Time – to spend as you please, exploring the world and allowing your mind to wander in search of new ideas.

Usually, you’re lucky if you get two out of the three. But if one of them is missing, it compromises the other two.

Without money, you don’t have much freedom, because you have to spend your time chasing cash.

Without time off, money doesn’t buy you a lot of freedom.

And if you’re doing something you hate for a living, it doesn’t matter how big your salary is, or how much holiday you get. You still feel trapped.

Surely there must be a more creative solution?

If this still sounds like you and you’d like a little more freedom, money and time in your life, read on.

What I got from this book?

In one word, Plenty! Here’s a list of the top 10 things I learned:

  1. Am I creative?: Creativity is not just a fancy label that only artists with long hair and thoughtful expressions carry – even though you might think you are not creative (or not creative enough), after reading the book, you might change your mind.
  2. It’s about Quality of Life: I want Freedom, Money and Time. Why? Simply to improve my quality of life.
  3. Don’t Compromise: It is OK to be Unreasonable about having all three – Freedom, Money and Time. Just one or two out of the three will just not do!
  4. Being skillful does not guarantee you money – Yes, you need to be skillful to make money, but, as Mark found out in his 2nd business, it’s not guaranteed.
  5. Your first love and the Market: In Mark’s own words – “Your market may be next door to your first love”. With poetry being his true love, he found “market-love” when he looked next door!
  6. Sharing adds; not subtracts: In today’s “knowledge based” marketplace, the more you share, the more you increase your chances of success. Why? Because it depicts your knowledge and people trust knowledge sources.
  7. Sales without Marketing is like surgery without an anesthetic:  Mark’s suggestion. Don’t try either. It’s way too painful.
  8. Your biggest enemy. Is sometimes (ok, most of the times), Ready?… YOU! Let go of your prejudices that limit your capacity. These usually start with thoughts like “I don’t think I can do that” OR thoughts that contain sentences that have the words “never” or “always”, in them.
  9. The wrong business model can crush you. Yeah, I know you knew this already. But, it’s these simple things that we neglect and overlook… until it’s too late. Mark shares his story about how this one got him!
  10. Never Give Up! – Well, before you take this too literally and rush to make some 2011 resolutions (you’re 17 days late!), there are some things that you should give up (like smoking?) … and then there are some that you should Never give up. I am talking about the latter – like pursuing your dreams. Persistence does pay! Keep creating and innovating!

About the e-Book

A few quick points about the e-book:

  • It’s FREE!
  • It’s a light read – 34 pages in all.
  • Describes Mark’s unconventional career journey, as a poet and creative coach, and the lessons he’s learned the hard way about finding the right combination of freedom, money and time.
  • It’s full of practical advice you can apply to your own situation, if you want to earn a living from your creative talent, or if you’re a freelancer or small business owner and want to make your business less stressful and more profitable.
  • Mark and his partners have also prepared an in-depth training program to accompany the e-book, and I’m pleased to be an affiliate partner for the launch. But the e-book itself is free to download, with no need to even give your email address.

Get your copy of Freedom, Money, Time and the Key to Creative Success by clicking here OR by going directly to the download page.

Also, please feel free to share the e-book with anyone who you think would find it helpful.

Week In Review : Jan 9 – Jan 15, 2011

by Magesh Tarala on January 16, 2011

Project Leadership #4: Trust is bidirectional

by Himanshu Jhamb, Jan 10, 2011

Trust is a key ingredient for a project’s success. Establishing bidirectional trust with the stakeholders – Client, Management and Team, lowers the cost of transaction and improves the quality of your projects. This happens only if you care for the stakeholders – all of them. Project that operate in this mode will flow smoothly and be phenomenally more successful! more…

Project Reality Check #4: Know the Business, Gain Power

by Gary Monti, Jan 11, 2011

Project managers (PMs) have to deliver; yet power to get the job done can be elusive. But PMs can take care of themselves and the team knowing they are lower on the food chain and get some power. How? By understanding and communicating in the language used by those with more strategic positions and power. This language also needs to provide a portal through which the PMs can express project concerns. The language is risk management.  more…

Social Media and Tribes #26: Social Media in 2011. Are you still in the GAME?

by Deepika Bajaj, Jan 12, 2011

By the end of 2010 the concept of social media became part of our lives because there was a need for an “Online Conversation” – to talk, listen and engage with your influencers. “SO WHAT? WHAT NEXT?”. You may have just scratched the surface of social media…new challenges and new opportunities are in the horizon. The bars are being raised and the learning curve is steep….What matters is Are You Fatigued or Are you Adapting? more…

Flexible Focus #36: Charting New Territory

by William Reed, January 13, 2011

It is time again to look back and gain some perspective on where we have been in the last eight weeks. Revisiting these articles will help you re-explore the territories where we have been, and see also how they fit together. And also reflects the amazing range of topics possible to address with the Mandala Chart. more…

Leader driven Harmony #7: Failure is required (Part II)

by Mack Mckinney, Jan 14, 2011

In the previous post Mack discussed the danger of not experiencing enough failure in life and how well-meaning people who shelter us from failure can rob us of the mental toughness that we need to get through life. Now a days, people who have tried and failed are much more attractive to most employers than people who have led sheltered lives, protected from failure, with teachers and parents hovering over them and protecting their increasingly brittle self-images. So, push yourself hard enough that you sometimes screw-up. more…

Week In Review : Jan 2 – Jan 8, 2011

by Magesh Tarala on January 9, 2011

ROI for Business Intelligence

by Matthew Carmen, Jan 3, 2011

There are many other direct and indirect efficiencies and benefits that can be realized through the proper planning and implementation of BI tools and systems.  The more end-user groups that participate in the planning of a company’s BI system, the easier it becomes to change the ultimate corporate culture. Once the buy-in from the users is attained, the real savings begin, and a platform to accelerate corporate growth now exists. more…

Project Reality Check #3: Hangman – The Triple Constraint

by Gary Monti, Jan 4, 2011

Project management has a lot in common with the game “Hangman” in that the project manager is expected to figure out what the stakeholder(s) in control want without them telling the PM directly. But project managers also have to ensure sufficient time and money are left to implement the scope. This is the triple constraint. more…

Keys to a successful Strategic Planning Process

by Steve Popell, Jan 5, 2011

Marrying the Vision and Mission statements is essential, because it helps to get across to your employees how truly important each of their jobs is in the grand scheme of things. You want your employees to make the connection between them. If your strategic planning group crafts meaningful Vision and Mission statements, you will create an environment in which this kind of connection will be a small step, not a leap. more…

Flexible Focus #35: Move less, Attract more

by William Reed, Jan 6, 2011

The abundance mentality is a shift in mindset, a broader and more generous view. It is also the realization that you are not stuck with what you start with. Regular practice with the Mandala Chart gives you the ability to take any idea and quickly multiply it by eight to generate new ideas, applications, perspectives, or connections. more…

Leader driven Harmony #6 : Failure is required (Part I)

by Mack McKinney, Jan 7, 2011

It is important that you fail in order to succeed. When learning a new skill, you have to be allowed to fail. If not, you will not be prepared to face situations in real life and you may panic in those situations. more…

Keys to a successful Strategic Planning Process

by Steve Popell on January 5, 2011

The time-tested strategic planning process includes the following elements.

  • Vision (3-5 years)
  • Mission (3-5 years)
  • Long-Range Goals (3-5 years)
  • Short-Term Objectives (next 12 months)
  • Task Assignments (to accomplish the Short-Term Objectives)
  • Action Items (What do we do Tuesday?)
  • Follow-up (to compare actual performance with plan)

Some give short shrift to the Vision and Mission as “touchy-feely” and somehow remote from daily operations.  This is a mistake.  In fact, developing a clear Vision and Mission, and communicating the same to all employees, can play a critical role in the company’s future success.

The Vision

Any worthwhile strategic planning process must begin with your Vision for the company at some specific date in the future.  What will be your company’s identity?  When customers, suppliers or professionals hear your company’s name, what image do you want them to conjure up?  What overriding quality do you want front of mind?  In other words: Who is this company?  Here are a few examples of vision statements that speak to this identity question.  Note that none of these statements says anything specific about what the company does for a living or about the customer base.

  1. We make the defense of the U.S. homeland stronger and more flexible.
  2. We help our clients’ teams to function more cohesively and effectively.
  3. We improve the quality of health care in America.
  4. We make transit passengers safer.

When your employees fully understand (intellectually and viscerally) your company’s Vision, they will be able to see how optimum performance in their individual jobs will contribute to the fulfillment of that vision.  This connection is critical for long-term job satisfaction, high achievement and career track progress.

When an outsider sees and understands the Vision, the first question that comes to mind is “How do they do that?”  This is where the Mission comes in.

The Mission Statement

The Mission statement describes your company’s function in concrete terms.   Using the same examples, here is a group of Mission statements that address the question “What does this company do, and for whom?”

  1. We train dogs to assist Customs inspectors to locate drugs and explosives.
  2. We deliver workshops to privately held companies on verbal and written communication, listening skills and teamwork.
  3. We make timely delivery of top-quality components to medical instrumentation OEMs.
  4. We manufacture shatter-proof glass for public transit vehicles.

Marrying the Vision and Mission statements is essential, because it helps to get across to your employees how truly important each of their jobs is in the grand scheme of things.  For example, these dog trainers are obviously in support of the drug and explosive interdiction business.  But, interdiction is a means, not an end.  The end is that we are all safer in this country.

In this example, you want your employee to make the connection that “If I do my job really well, I will be saving lives. I may never know the names or, even, the home towns of those I save, but they will be alive because of me/”  If your strategic planning group crafts meaningful Vision and Mission statements, you will create an environment in which this kind of connection will be a small step, not a leap.

Good luck!


PhotoPopell This article has been contributed by Steven D. Popell. Steve has been a general management consultant since 1970. Steve is a Certified Management Consultant, business valuation expert, and inventor of ExiTrak®– a process designed to assist the privately-held company owner/manager to build an attractive strategic acquisition candidate

Week In Review : Dec 12 – Dec 18, 2010

by Magesh Tarala on December 19, 2010

The Origin of Leaders #4: Self-discipline. Cultivating the habit of completion

by Conor Neill, Dec 13, 2010

The only people who can change the world are those that want to. Many don’t want to. Some want to, but don’t accept the discipline of hard work. Anything you want will never be as hard as you imagine it will be! So, get started and push on through. Do it “just because.” Even if it is a failure as a product, it will teach you. You will come out stronger. more…

Chaos and Complexity #14: What makes Complexity complex?

by Gary Monti, Dec 14, 2010

The hallmark of complex systems is emergent behavior. The components of this behavior are Adaptability, Connectedness, Interdependency and Diversity. It is the responsibility of the leader to maintain a balance among all four variables and each of these attributes must be at the “in-between” setting to create positive tension. more…

Social Media and Tribes #24: Getting better with Social Media – Christmas Wishlist

by Deepika Bajaj, Dec 15, 2010

Social media was a boon for Deepika while she was confined to bed rest after undergoing surgery. She could stay in touch with friends, help others, blog, shop and more. If only Social Media could make you Starbucks and chicken soup:) more…

Flexible Focus #32: Folding the Square

by William Reed, Dec 16, 2010

Origami and general the art of folding is deeply ingrained in Japanese culture. This is an essential aspect of Japanese sense of creativity and aesthetics. The reason is that, not only does it result in a host of useful and practical solutions to problems and products, but it also illustrates how many possibilities open up when we work within a certain set of limitations. The Mandala Chart can facilitate the process of connecting discipline and spontaneity through flexible focus. more…

Leader driven Harmony #3: How to make your writing Crisp, Flavorful and Satisfying (Part I)

by Mack McKinney, Dec 17, 2010

Clear, sharp writing is almost a lost art.  And it is sad because to get along in life you must be able to explain yourself clearly. In business if you cannot craft a grammatically correct, well-written document that people find pleasing to read, you will always be working for someone else who can. There are five key considerations in writing: Purpose, Audience, Content, Style and Mechanics. This post is about Purpose. more…

Week In Review : Dec 5 – Dec 11, 2010

by Magesh Tarala on December 12, 2010

Data Backup: Ignore at your own Peril

by Marc Watley, Dec 6, 2010

You can lose your precious data in a flash just like Marc when he was robbed at gun point. Corporations though seem to live at gun point all the time. Whether personal or corporate data, you better back it up or suffer the consequences. Thankfully there are a variety of solutions for individuals and businesses that offer a wide variety of features. Marc has some recommendations. more…

Chaos and Complexity #13: Earned Value versus Sunk Cost

by Gary Monti, Dec 7, 2010

Chaos and complexity play a huge role when working with schedules. In this article, Gary has a list of measurement scales and the more your project lies to the left of these scales, the better are the odds of creating a credible schedule. That’s when traditional project management tools can be applied and hence earned value can be calculated. What ever it takes, avoid entering the world of sunk cost! more…

Social Media and Tribes #23: Customer service tribe hits a home run!

by Deepika Bajaj, Dec 8, 2010

There is no better PR than a compelling customer service story and that too FREE of charge! That’s the home run that United Airlines scored when Deepika was afforded an wonderful in flight experience. This is an example of how customers are sharing their experiences.  more…

Flexible Focus #31: Mobile Mandala

by William Reed, Dec 9, 2010

One of the best ways to benefit from the Mandala Chart is to put it to use, engage in it physically. There are four primary ways of doing this and the best way is to combine one or more of these for full engagement. Now, doing that may be at your finger tips with the introduction of MandalaChart iPad application. more…

Leader driven harmony #2: Communication by Handshake (Part II)

by Mack McKinney, Dec 10, 2010

Who would have thought there are so many nuances in a handshake? Well, first impressions leave a lasting impression and most assessments of a person is made in the first few crucial seconds of meeting them. So, read this article and practice a good handshake. more…

Week In Review : Nov 28 – Dec 4, 2010

by Magesh Tarala on December 5, 2010

Social Media and Tribes #22: Pink and Grow Rich – My thanksgiving gift!

by Deepika Bajaj, Nov 29, 2010

Deepika has released her e-book “PINK and Grow RICH“. If you believe you have to characteristics of a leader or you see yourself as a person who has one reason for not being who you could be, this is a must read for you. more…

Chaos and Complexity #12: Terrorism

by Gary Monti, Nov 30, 2010

Terrorism thumbs its nose at best-practice, top-down approaches. And terrorists are good at it. They create large force multipliers extending beyond the battlefield. They are always looking for tipping points.Terrorists work to make things chaotic (if not random) and committed security team members work to build the bonds needed to trap the terrorist and keep things safe. That is complex behavior. At times the best that security teams can do is reduce the chaos to complexity. This means trade-offs are inevitable. more…

Getting off on the right foot with a neutral business valuation specialist

by Steve Popell, Dec 2, 2010

Collaborative divorce is a splendid out-of-court process that can assist the spouses to communicate more effectively and to negotiate more productively.  If the parties make the necessary commitment to the process, they have a much better chance to maintain human decency, protect their children, and to help the entire family to get on the other side of the divorce decree in one piece. more…

Flexible Focus #30: The 8 frames of life: Home

by William Reed, Dec 2, 2010

Home is the 4th in the 8 Frames of Life of the Mandala Chart. Yet, broken homes, dysfunctional families, domestic violence, and broken hearts are pandemic in our society, an outward reflection of an inner conflict. The Mandala Chart is a comprehensive compass for life, and provides helpful perspectives on themes surrounding our Home. more…

Leader driven harmony #1: Communication by Handshake

by Mack McKinney, Dec 3, 2010

This Series is about life and business and the first topic should be of interest to anyone doing business anywhere –the business handshake. A predictable, firm handshake is an important tool in business, in fact, in life, in general.  A handshake is over in a few seconds yet it helps us reach a number of conclusions about the other person. more…