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Executive Insight Tip of the Week, July 16, 2009
Sent Thursday, July 16, 2009
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Executive Insight
Tip of the Week
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Hi !
Welcome to this week's issue of Executive Insight.
Special Announcement
I'm teaching my two-day course on Professional Services Marketing at NYU on July 24-25. If you're in the New York area and would like a two-day booster for your business, (or know someone else who could benefit) feel free to check it out.
What Don't You Love?
I watched a great interview with Mickey Drexler, CEO of J. Crew, on CBS Sunday Morning. J. Crew has been buzzing in the fashion press, of course, because Michelle Obama has been sporting some chic items since the inauguration. And if Mickey's name isn't familiar to you, he's the person credited with turning The Gap into a retail icon.
J. Crew was floundering when Mickey took the lead six years ago, and after reconfiguring the team, he tackled the product line. He commented that "million dollar items were thrown on the floor." If they didn't love the product, they got rid of it.
Now that takes courage. How many times have we been so in love with what we've painstakingly created, or how we deliver service, or unprofitable (but very nice!) clients that we end up slowly chipping away at our business?
So this week's question is: What don't you love about your business? Think about these broad categories:
You get the idea. Be ruthless as you evaluate. Although this idea may be a little daunting, the amazing thing is that when you make this type of change, you have a lot of room to make better things happen.
What will you get rid of today?
Have a great week!
 Copyright 2009 Lisa M. Aldisert
Lisa Aldisert is the president of Pharos Alliance, Inc., a management consulting firm that works with organizations in the areas of strategy, business development, and organizational/leadership development. Give us a call at 212-332-3241 to see how we can help you create strategies that make sense for your organization, and result in increased revenue and profitability. |
 Issue #16, July 16, 2009
ISSN 1947-2889
Our goal is to provide you with timely tips so that you can more effectively run your business. We know you have a ton of mail in your inbox, so we're committed to brevity and practicality.
Leadership and the
Bottom Line
If one of your employees is critical about one of your decisions, the natural reaction is to defend your idea. Next time listen carefully and observe what you learn from the feedback.
Personal Power
When you make a change, remember that it takes time and repetition to exercise your new mental muscle. Work on it a little bit every day, and after a few weeks, it will feel natural to you.
Trend Watch
The Economist reports that companies continue to ask their customers to serve themselves. Is this truly "customer empowerment" or an easy way to outsource to you, the customer?
Editor
Julia E. Rosenbaum
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