Nicholas Bate

Deep Thinking

From Malcolm Gladwell on success.
From Matt, productivity plus guru.
On piebald.

Convenience comes at a Price

Many of us shoppers are being a bit more careful about what we throw into our shopping trolley; many items which seemed obvious and convenient just 12 months ago are now seen as expensive, a bit of a luxury. Heck-we can make that sauce ourselves. Heck-pasta only takes minutes anyway. We pay a price for convenience and that is our decision of course. But perhaps our banks and our corporations have become too much of a convenience for many of us and we need to keep an eye on them, a little more.
Anything else become so convenient we've lost the plot, a bit?

Life is a beach?

And this photographer lives on a beautiful one.

Rare

1. Raw beef on your plate. Paris-avec frites.
2. Starting a meeting on time.
3. Curious elements buried in the depths of the periodic table.
4. 'The economy will be OK' pundits.
5. Consistent, stable, trustworthy, inspiring politicians.
6. Good endings to great thrillers.
7. Presenters not using PowerPoint.
8. A drawer full of perfectly matched, not a single hole in sight, socks.
9. Easy, peasy check-in at the airport.

Blast from the Past 1: What is it costing you?

First posted 10th July 2007.

Let's be absolutely clear....

What is it costing you

emotionally?
physically?
financially?
creatively?

to delay the actions you need to take?

Start.

Monday's 7 Rules for Radicals

1. Don't work on being liked; decide to be respected.
2. Isms (race/sex/age..) will always exist: step above and around them.
3. Skip the melodrama.
4. If it isn't working, try something different.
5. Be loyal.
6. Be greater than the daily bull**it.
7. JFDI!

You did last week's didn't you?

Monday's 7 Rules for Radicals

1. Do it; apologise later.
2. You can see it; you need to say it.
3. Chase challenge, not comfort.
4. Build your brand; you run your own business now.
5. What legacy do you want: 'my boss wouldn't let me'? I don't think so.
6. Measure yourself by results not departure time from the car-park.
7. Become a Radical and change the World.

We are all in the coffee business

Some businesses are

Espresso businesses
Lean, mean and to the point. They are rapid to cause effect. They are no-nonsense businesses. They are not necessarily cheap when considered in terms of hit/time, but they are good value and they don’t waste your time.

You may well want to be an espresso business. But you will need to be good. You can’t hide a bad espresso. Is the crema authentic? Has the cup been pre-warmed? Attention to detail is critical. Especially as espresso drinkers know what they want.

Latte businesses
Of course you could be a latté business. Not quite so powerful in one go as an espresso business, but the effect is there and it’s a little gentler on the stomach. It’s good value. And most people trust a latte; they’ve had one before and they will have one again. Unlike an espresso, it’s more difficult to make a bad latte.

Cappuchino businesses
This business certainly looks good: flowers in reception area and expensive furniture. First taste is great. Afterwards though you are sometime unsure as to whether you made the right choice: it all went so quickly. But funnily enough people will want you again, because of that very effect

Mocha businesses
Only trouble is do your customers know what they really want? Will they be loyal? And do you know what you are trying to provide? You’ll probably always be a smaller share of the market. But that’s OK because your margin is surprisingly high if you get it right.

Frappuchino businesses
You are cool, there is no doubt about that. Flexible. An amazing array of flavours. But a little seasonal and sometime slow to deliver. And quality control can go wrong. It’s a high risk business you have decide to run, but when you are on a roll, the margin is delirious.

It’s best to know what business you are in. It’s no longer coffee; black or white, sugar or not (except, that is, in one or two Northern England seaside towns, and don’t we love Scarborough?).

Know your market segment. Love your market segment.

Time for a coffee?

They Try Harder

I have always thought the Avis 'We Try Harder' campaign was (and is) an inspired campaign. It says it all: we may not be number 1, but that is not what is important: it's what we do for you that counts. In three words the campaign shifted the measure from 'position' to 'results'. And that's what we must always come back to: results. In the blogging world it is a huge shame to see greats such as Guy Kawasaki drifting from providing useful thought leadership to becoming a 'hits and clicks generator'. The good news is there are several out there who may not be in the 'top 100' (yet), but from a value point of view they should be.

They Try Harder ( a mini selection):

Michael Wade
David Maister
Tim Sanders

Setting your fees

Now that you have got your start-up launched (how to: see here) it's worth giving lots of attention to setting fees. Just imagine the impact of an extra 10% per hour over a month...

Here are my thoughts:
1. Price by value not cost. Keep increasing your value and hence increase your fees.
2. As you pull away from the crowd and get better and better your fees can be disproportionately greater.
3. Don't discount. There is no discount for volume if you are a consultant.
4. Keep an eye on your competitor's pricing: not to copy them but to know what your customers will be comparing you with.
5. Be clear on payment terms, T&C and extras/expenses.

and then check out the usual wisdom and thoughfulness from David Maister on this subject.