What Risk Really Mean

Risk is a neutral word, which means it can be positive or negative.

The next time someone asks you, "What if you fail?",

Ask them "What if we succeed?"

Or go further to ask, "What are the challenges if we really succeed? Are we ready to succeed?"

Courage To Start A Business

Do you need courage to start a business?

Hmm... I used to think "yes". But I think what's more important is a solid plan, and the commitment to follow through.

The Three Things a CEO Needs

Quote from a VC:
"A CEO does only three things. Sets the overall vision and strategy of the company and communicates it to all stakeholders. Recruits, hires, and retains the very best talent for the company. Makes sure there is always enough cash in the bank."

By the way, avc.com has great reads for anyone interested in business.

What Content Marketing Means

In my previous post, I defined content marketing as the creation of owned media that provides values to target audience to build and nurture long-term relationships.

Yet, it has no mention of things such as the company or profits. C-class executives who do not really treasure customers are not going to understand the importance of content marketing.

Content Marketing is So Important

Content marketing is, by this blogger's definition, the creation of owned media that provides values to target audience to build and nurture long-term relationships.

It's really important that businesses start to take content marketing seriously, because (1) it's really the best way to create value for your customers, (2) it creates assets that your business owns, and (3) it's one of the oldest form of marketing, ie it had been proven to work.

It's inevitable that businesses will eventually be involved in the media business. It fact, it has already gripped every industry. One must realise that being in the media business also puts one competing with others outside their own industry.

Limit Your Limiting Thoughts

Instead of saying, "Why is this so impossible to achieve?", ask "How do we make this possible?"

Remember, asking the wrong questions will give you the wrong answers.

The (Sad) Culture of Free

While running my business, whenever my manager do certain things, I often ask my manager, "Doing this will get you a certain type of customers. Are they the type of customers you want?"

In asking that, it was not to deter, but to ensure the right promotional/marketing etc efforts are in alignment with what the business is trying to achieve.

This thought made me recall what the governmental organisations do: the exploitation of "free" to boost their numbers. At events, they will give away free stuff like goodie bags.

While nothing is wrong with that promotion method, when used for years, the type of audience they have attracted are those who want free stuff.

There is a misuse of the "free" strategy. If the result is the attraction of people who have no understanding nor care for what an organisation is trying to achieve, the event, and eventually the organisation itself, has failed in its purpose.

The Rise of Invective Marketing

Note: this is NOT a type of marketing that organisations should use! Yet, there is a rise in this trend among common folks seeking fame, especially in social networks. These trolls (as I call them) get a certain number of following, then they say something controversial that gets people to comment/share. And these trolls get the attention they want. Like This Old Marketing podcast says, please don't do this. It's wrong, if not just pathetic.

Are You Sure You Should Use Facebook?

Hmm... is it so hard to understand that not facebook page for a business is part of an organisation's plan? Having a facebook page does not mean doing social media. Having, or not having, a facebook page pages boils down to what the marketing plan of the organisation is. Or more importantly, what the content marketing plan is. Is your facebook where your audience is? Can you provide a consistent stream of content that is of value to the audience? How does facebook factor into the overall marketing plan?

Experience Over Product

I am one to go for service. Of course, food quality has to be of a good standard, and I will choose a restaurant with average food and smiling waiters, than a restaurant with excellent (and probably exorbitantly expensive) food but a waiter with the terrible i-hate-life face. The underestimation of the value of the smile is an indication of lack of care for customers, no matter how the company writes how it values customer relationships.

Believe in the Power of Digital Content for Social Good

I am penning this down as a personal reminder, for I am about to take steps into the Dark Side. This Dark Side has no interest in the social good. Being numbers driven, it is the commercial worth of the content that matters to the Dark Side. Do not forget the beauty of connectiveness, the wonderful people behind their causes, and the people saved by digital content.

Online Collaboration For Newbies (Bonus)

I need to mention something important for the previous three posts: YOU have to take the initiative. 

In many cases, you will become the designated leader of the group, as you will be taking initiatives, making sure milestones are met, keeping everyone aligned with the goal, and looking out for the members.

Online collaboration may just be putting infomation online, but you will be the one to bring about collaboration.

Online Collaboration For Newbies (Part 3)

Stagnation of activities can come easily, for example a facebook discussion stops as everyone is waitjng for everyone else to take action or to speak up.

The solution comes in two fold.

First, build momentum by engaging those who speak up. Don't worry about being inclusive during the discussions. What you want to do is bring the conversation to a good frequency, at which point hopefully the quiet ones will join in.

Second, be a "nagger". Always check in with the members. Are they going well with their part of the work? Any difficulties they may be facing? Deadline in six days? Touch base with them in three days. You may be naggy, but you are engaging.

Online Collaboration For Newbies (Part 2)

If task allocation is an issue during your online collaboration, then there are two factors you need to look out for.

One, ensure everyone is on track towards the team's goals. You want to ensure everyone is productive towards the same goal.

Two, clear and defined milestones/tasks for each member. "Everyone try to do XXX," will only result in nobody is doing! While you might not be able to play to each person's strength as you do not know them well enough yet, the show must go on, and get everyone to deliver.

Online Collaboration For Newbies (Part 1)

Online collaboration is not as easy for some teams. If you have recently formed a new team through an online platform, you may face some problems.

Some of the problems may include the alignment of the goals of various members, task allocation and responsibility sharing, and stagnation of activities from online discussions (I will just talk about these three across three posts).

Alignment of the goals of various members. It's difficult to get a sense of other members' alignments because honestly, you are not meeting them face-to-face. It's like agreeing on a contract with a stranger, but he isn't going to shake hands with you on it. Just doesn't feel right, does it?

That is not to say that they are not trustworthy! Everyone believes what they are saying. Though some new collaborators may not know to check each others' alignment with the team's goal, or some members may say what they think the team wants to hear.

The way to overcome this is to be sure about each others' goals. Be open about it, video chat if you need to. This will show the earnest need and your sincerity towards the rest of the team. It's useful to return to this too, especially when the team starts to be in danger of losing sight of what it is trying to achieve.

The Invisible War on Work

Mentioned my previous blog, Mike Rowe reminds us that we have declared a war on work.

While we have declared war on work from various fronts, the particular one that bothers me the most is the mindset we have of manual/menial/dangerous work.

For example, the iPhone is a wonderful modern tool that connects us, and is brought to us by these innovative and aspiring companies.

But we do not recognise, or even choose to ignore, the traditional factories that produces the pieces of the iPhone, and the hands of the workers that piece them together. 

Like Rowe says, we must not forget that innovation without imitation doesn't work. The obsession for innovation should not blind us to the these networks of manual labour that give us these automated technology. These are the sides of the same coin.

Customers Are NOT Always Right

A phrase I haven't heard in a long time, brought up by someone the other day, "The customer is always right."

No, the customer is NOT always right. You don't hear tech support saying, "Yes sir, that CD tray on your PC doubles as a coffee cup holder."

It's easy to accept it literally, while forgetting to the true meaning behind it, which is the spirit of customer service.

Behind each business transaction is a customer want. An unhappy customer is one with an unmet need. 

To say "the customer is always right" is to have the will to try to find out what that need is, and wanting to help the customer achieve it. 

"I'm glad you think our CD tray can be used as a coffee cup holder, but it is not. If you use it as a coffee cup holder, you will damage the CD tray, resulting in you being unable to use it to its full potential! Your CD tray can play your favourite track from your music CDs. 

I read from your case file that it's a rewritable. What this means is that you can use it to create your own customised CD playlist! You bought a great choice of PC. Would you like me to run you through how to use it?

By the way, I know a great contact for great coffee holders. Would you like me to share it?"

Imagine the potential of "The Customer is Always Right". When shared correctly, of course.

Gamers Can Change The World (Part 3)

Gamification is a strategy that businesses are taking notice of, taking elements of games and applying them in the workplace. Gamification may be a recently coined term, but businesses have been using game-elements for their own purposes for a long time.

There is no doubt why businesses will do that - gamification encourages tackling of difficulty and/or mundane work, motivates staff to pursue mastery in their own work, and can even be used for external clients. 

These offer one more promise of solving the bigger issues that plague our world.

Ignore A Person's Weakness? Really?

For those who are still concerned about developing strengths while "ignoring weaknesses" (from my previous article), fear not. 

It not about ignoring weaknesses, but about we can handle it. And we've been handling it for centuries: teamwork.

A team mate not only contributes his/her unique strength, but also covers any weakness gap that is in the team. 

Critical weaknesses cannot be covered for, as it still has the potential to bring the whole team down. 

What Are Your Strengths?

Those who are familiar with Marcus Buckingham's works will know where I'm coming from. Though I want to go beyond his call for a strength-focused approach, as I believe it is incomplete.

Buckingham suggests that focusing on developing strengths is superior to "fixing" weaknesses. By doing so, the potential of a person's excellence greatly increases. 

Having applied this theory in my own business (client-based), I strongly believe in it. By leveraging on my staff's strengths, they have been able to provide their own versions of customer excellence to their respective clients. 

Of course, the naturally thing to ask is: what about weaknesses? Now, everyone will have weaknesses, and not every weaknesses can be ironed out (god forbid this! Humanity will become boring!) 

Focusing on ironing out weaknesses will produce common individuals, while able to handle daily responsibilities without a problem, will be without the ability to handle situations requiring a special mojo. 

Focusing on developing strengths will prepare an individual to handle difficult cases in spite of their weaknesses. When that particular case arise, they will realise that they were readying themselves for this moment. They were readying themselves to shoot for the stars.

But beyond the focus of strengths, there are also "critical weaknesses", and these must be ironed out. These are weaknesses which will cause failure FOR SURE. Imagine an insurance agent with bad habit of lateness, making every client of his wait for 30-60min for every appointment. No matter what strength he may have (good at selling, extreme care for the client, expert at saving money for clients etc), no one is going to trust a person who cannot keep the promise of time. That is a "critical weakness". And it must be sorted out.