Helping Today’s Universities Survive Market Changes and Provide Students with Better Experiences

Researchers, Dr. Daryl Green and Dr. George Taylor, share their insight at the 2019 Institute of Global Business Research Conference. 

How do today’s universities and colleges survive with rising educational cost, declining employments, and growing dissatisfaction among the US citizens?  Dr. Daryl D. Green and Dr. George Taylor III shared their solutions at the 2020 Institute for Global Business Research Conference in Las Vegas, Nevada. The Institute for Global Business Research (IGBR) is a non-profit organization, originated from many years of professional, academic teaching and research expertise of accomplished business professors from around the globe.

Due to numerous problems in higher education, universities are struggling for sustainable answers. Higher education is undergoing tremendous changes. Universities and colleges are being bombarded with disruptive change which has become fatal.  Enrollment in accredited colleges and universities have shrunk consistently since 2010 since the rising of online learning. According to Moody (2015), closure rate – out of 2,300 institutions – would triple by 2017, and the merger rate would double.  Dr. Clayton Christensen, renowned Harvard University professor, proclaimed “In 15 years from now half of US universities may be in bankruptcy.” Without making the necessary corrections, most academic institutions will not be able to survive. Dr. Green, conference presenter explains, “Small liberal arts colleges are the most susceptible to market forces.  Disruptive change has a dangerous consequence to traditional institutions. The results of disruptive change for organizations produces unpredictability and uncertainty of outcomes in the environments.” Dr. Green, Dr. Taylor, and Mrs. Violet Ford (John Hopkins University doctoral student) are developing a theoretical article, “Cultivating the Entrepreneurial Mindset in Today’s Small Liberal colleges & Universities” to discuss their initial findings with other scholars. Dr. Green and Dr. Taylor presented at the IGBR Conference.  Dr. Green is the Dickinson Chair and an Associate professor in the College of Business at Oklahoma Baptist University. He is a former US Department of Energy program manager with over 25 years of professional management experience. He is a nationally syndicated columnist, where he writes in the areas of leadership, decision-making, and culture. Dr. Green has a doctoral degree in Strategic Leadership from Regent University.

Dr. Taylor notes, “Traditional liberal arts colleges possess formal structure with identified roles and responsibilities.  Yet, the structure of many universities vary depending on their history, mission, and institutional type….Overall, there is a reliance on bureaucratic organizational structures; academic institutions, whether public or private,  incorporate key authority structures, including a governing board, a president or chancellor, a cohort of administrative leaders, and an academic senate.”  Dr. Taylor is an Assistant Professor in the School of Business at Tulsa Community College.  Previously, he served as a naval officer specializing in HR, and has over 25 years of leadership and management experience. His writings are in the areas of knowledge management, workplace spirituality, and employee engagement. Dr. Taylor has a doctoral degree in Organizational Leadership from the University of Phoenix and is 2019 EdD cohort learner attending Oklahoma University.  

In analyzing the current crises in higher education, their presentation describes a set of strategic implications that will aid universities planning to create sustainability education programs. In preparing today’s liberal arts university, administrators and senior executives of these institutions need to infuse an entrepreneurial mind-set in their faculty.  Here are their suggestions: (a)Leaders need to model the way in entrepreneurial mindset; (b)Be adaptable to changing market conditions; and (c) Universities must create entrepreneurial climates.  Dr. Green adds, “Cultivating an entrepreneurial mindset will infuse innovative thinking toward difficult problems and provide new revenue streams to universities that utilize student tuition as the principle income for these academic institutions.

To learn more about this research or to schedule media interviews with these researchers, please contact Dr. Green at drdarylgreen@gmail.com or 865-719-7239.

About AGSM LLC

AG Strategic Management Consulting (AGSM) is a start-up consulting firm focused on serving emerging and existing businesses in the areas of strategic planning, marketing, project management, and other administrative services. With a core staff of seasoned and nationally renowned professionals and a team approach to consulting projects, AGSM will offer exemplary services that meet the needs of its clients.

AGSM Consulting is also an intellectual property-based strategic consultancy which research and develops products includes books, e-books, articles, whitepapers, videos, podcasts, and other content medium to create new knowledge, training, and professional advisement

Dr. Daryl D. Green is an internationally acknowledged author and researcher.  He is the Vice President of AGSM LLC. He is also the Dickinson Chair at the Oklahoma Baptist University. Dr. Green writes a syndicated online column and blog. Moreover, he has been quoted in major media outlets, including USA Today, Associated Press, Ebony, and BET. In 2016, he retired from the federal government as a senior program manager. Dr. Green has spent more than 20 years helping organizations and thousands of individuals make good decisions through his lectures, seminars, and columns. 

OBU Business Presentation at ACBSP #6 Conference

IMG_9966

On October 4th,  Dr. John Cragin and Dr. Daryl Green shared their presentation, “Developing Entrepreneurs & Innovators in legacy institutions struggling with new market realities desperately clinging to the past” at the 2019 ACBSP Region #6 Conference at Oklahoma Baptist University, Shawnee, Oklahoma.  Dr. Cragin is a Professor of Social Entrepreneurship & International Business with extensive global experience.  Dr. Green, Dickinson Chair and Associate Professor, is a nationally recognized author and speaker.

IMG_9961

College Students Use Hip-Hop Culture to Break Down Gen Z Entrepreneurship

Recent academic research into entrepreneurship in Hip-Hop culture, which was conducted by students from the Paul Dickinson College of Business faculty at the Oklahoma Baptist University (OBU), has been published in the Management and Economics Research Journal; allowing students around the country to utilize the case study.

Although it is very rare for undergraduate research to be published, students from the Paul Dickinson College of Business at the Oklahoma Baptist University have done just that with their recent research paper, “Hip-Hop Culture: A Case Study of Beats by Dre For Entrepreneurship.” Published in the Management and Economics Research Journal, the paper examines how Record Producer Jimmy Lovine and hip-hop icon Dr. Dre were able to turn a small sub-culture into a global, multi-billion-dollar business. 

Focusing on the Beats by Dr. Dre headphone range, the students, alongside their professor Dr. Daryl D. Green, looked at how within a decade the company was able to control over 70% of the headphone market and make Dr. Dre the first “hip-hop billionaire.” The research paper observes how Beats by Dr. Dre used exceptional marketing techniques to target the millennial age group, including the use of celebrities alongside incorporating customizable headphones for each popular figure. 

In 2018, Students (L-R: JoziRose Mayfield, Sinai Gomez Farias, Braden Dwyer, & Cade Lauck) worked on a class assignment.

The student authors who contributed significantly to the research are Braden Dwyer, Sinai Gomez Farias (graduated), Cade Lauck, and JoziRose Mayfield. While faculty collaborating with students at an undergraduate level in business is rare, the OBU believes it is an important factor in helping to raise the next generation of scholar-practitioners. By involving students in their research, faculty become mentors to the students. Faculty collaborating with students at the undergraduate level in business is rare. 

Dean David Houghton, OBU business dean explains, “Faculty collaboration with students is important in raising the next generation of scholar-practitioners. By involving students in their research, faculty become more than educators. They become mentors. Sometimes, undergraduate students lack relevant professional experience, which can make it more difficult to involve them in research projects. But Dr. Green is great at finding products, services, and issues that are relevant to the students and for which they have a meaningful experience.” Yet, these undergraduates were a special kind of students.

OBU students get their research published in an academic publication (L-R: Dr. Daryl Green, JoziRose Mayfield, Braden Dwyer, & Cade Lauck).

At the time, these students turned a class assignment into relevant research to benefit others. OBU senior JoziRose Mayfield found the case study interesting: “The biggest and most important thing that I took away from this case study is analyzing the importance of demographics and product placement. Dr. Dre and his team did an exceptional job of choosing the right techniques when it comes to promoting their new brand. He made an effort to include celebrities in his product and incorporate customizable headphones for each popular figure.” Cade Lauck, a marketing major, agrees that getting their research published was a difficult process: “While working on this case study, I learned that teamwork was going to become extremely important. The communication that we had played a huge part in the coming together of the case study. I also learned a lot of information about how the communication and culture at Beats helped the company succeed.”

This collaborative research between faculty and students is significant because little research has been done in this area of Hip-Hop culture and entrepreneurship. (L-R: Dr. Daryl Green, JoziRose Mayfield, Braden Dwyer, & Cade Lauck).

Speaking on the publication, student Braden Dwyer said, “The research we conducted can be used to show students that having a creative idea isn’t enough to be successful. To be successful, as Dr. Dre has been with Beats, there must be a differentiator between you and the competitors in your market to truly stand out. Seeing our work published gave me a sense of purpose for our project. Rather than the case study just being turned in for a grade, people will be able to use our research and gain knowledge for themselves, which is a fantastic feeling.”

The results of this study are available online now, helping to assist today’s universities to infuse the entrepreneurial spirit in the next generation of business professionals. 

To view the paper, visit;

https://merj.scholasticahq.com/article/9564-hip-hop-culture-a-case-study-of-beats-by-dre-for-entrepreneurship, while for information about this research or if you would like assistance with your organization, please contact Dr. Daryl Green at 405-585-4414 (daryl.green@okbu.edu).

About Paul Dickinson College of Business

The Paul Dickinson College of Business is part of Oklahoma Baptist University. This qualified and Christian-based education is addressed to those who want to pursue a bachelor degree in business. The university provides the skills needed by the business graduates in contemporary professional careers as a leader. The business degree programs of the Oklahoma Baptist University are accredited and acknowledged by the Accreditation Council for Business Schools and Programs.

For more information on the Paul Dickinson College of Business at OBU, visit www.okbu.edu/business.

Research encourages universities to nourish entrepreneurial spirit in Generation Z

Speaking to a packed crowd at the 2019 ACBSP Conference, Dr. Daryl D. Green from the Oklahoma Baptist University, revealed that recent research shows Generation Z students are not only the most diverse and inclusive yet, but also the most ambitious. Making up nearly a quarter of the American population (some 74 million young adults), they shun the traditional employee route of their predecessors, with 72% of them wanting to start a business with 61% preferring to be an entrepreneur rather than an employee.

This high percentage reflects the differing work ethic of these students. Having never known a world without social media or smartphones, 84% of participants in a recent study by Forrester showed they regularly multitask with an internet-connected device when watching TV, whilst 66% believe technology makes anything possible. Not just digitally savvy, these students are driven to set themselves apart with nearly 50% participating in internships during high school for the purpose of advancing themselves professionally and 26% currently volunteering in their spare time. 

Therefore if Universities want to continue to attract the best students, it is important for them to adapt their teaching practices for Generation Z. Dr. Green broke this down into seven suggested practices;

  • Creating an academic environment that fosters creativity and entrepreneurial thinking
  • Setting clear expectations and boundaries
  • Engaging students digitally in the classroom and beyond
  • Breaking work assignments into smaller, manageable segments
  • Communicating regularly to provide frequent feedback
  • Being relevant and providing practical application and business role models
  • Incorporating a fluidic frequent reward system

Summing up, Dr. Green said “For the first time in history, there are now 5 generations coexisting in the work place and Generation Z, with its diversity and ingenuity, may be the best of all. This is why it is so important for universities and places of higher learning to encourage the natural entrepreneurial spirit of the most tech savvy, pragmatic and diverse generation yet; enabling them to join the workforce ready to hit the ground running and perhaps inspire businesses to adapt to the future.”  

Event Photos:

unnamed-6Caption #1:  Dr. Green presents “Wire for Life: Inspiring Generation Z to Be Entrepreneurial Leaders.”

unnamed-5Caption #2:  Dr. Green engages the audience of academics.

unnamed-4Caption #3:  Dr. Green unlocks the mystery related to GEN Z.

unnamed-3Caption #4:  Dr. Green discusses 5 generations in the workplaces.

unnamed-2Caption #5:  The audience listens as Dr. Green breaks down GEN Z traits.

unnamed-1Caption #6:  Dr. Green reunites with a former classmate from his doctoral program.

unnamedAbout Oklahoma Baptist University/Dr. Daryl D. Green: 

With its campus in Shawnee, and locations in Oklahoma City and Broken Arrow, OBU offers 10 bachelor’s degrees with 88 fields of study and 5 master’s degree programs. The Christian liberal arts university has an overall enrollment of 2,073, with students from 40 states and 35 other countries. OBU has been rated as one of the top 10 regional colleges in the West by the U.S. News and World Report for 25 consecutive years and has been Oklahoma’s highest rated regional college in the U.S. News rankings for 23 consecutive years. OBU is one of the three universities in Oklahoma and the only private Oklahoma University listed on Great Value College’s rankings of 50 Great Affordable Colleges in the Midwest. Forbes.com consistently ranks OBU as a top university in Oklahoma, and the Princeton Review has named OBU one of the best colleges and universities in the western United States for 12 consecutive years.

Dr. Daryl Green, assistant professor of business at Oklahoma Baptist University and Dickinson chair of business.  He is an award-winning author with more than 30 books. He and his wife Estraletta have several years of social and competitive ballroom dance experience, competing in Georgia, Louisiana, and Oklahoma. Dr. Green has taught social dancing classes and is a former president of the Knoxville Chapter of USA Dance Inc.  

Getting 5 Great Business Tips From A Real Father Figure

When I think about how far I have come from a boy growing up in Shreveport with humble beginnings to a retired manager from the Department of Energy with several national achievements, including books, I must thank my parents for raising me the ‘right way.’ I know my father, Edward Elias, left an immeasurable influence on my life. He was old school… hard, stern, and purposeful in making sure that his children did not land on the wrong side of life.

Several years ago, I spoke at my father’s funeral, and I could not hold back the tears. God had given me a great mentor to guide me through manhood; God was now taking him back. My dad had achieved so much despite his lack of formal education. He had set a standard for me… my measuring stick. I felt my father’s shoes were too large to fill; however, I could not hide from my responsibility. It was my turn. Would I falter under pressure? Passing the family’s collective experience to the next generation is a necessary part of building strong leadership within families. How can families preserve this rich knowledge base? Who is going to remind us of the old ways?

With that said, I’d like to share one special story about the power of a good father’s influence on  a boy’s business perspective. My father worked for the public library system in Shreveport for several decades, and he was faithful. The workers all called him ‘Elie.’ My father was also entrepreneurial. He had a lawn service on the side. In many cases, he would leave one full-time job to work a part-time job. He never complained. I now recognize that good parents sacrifice a lot for their children, even to their own detriment. In this discussion, I will share 5 business principles I learned from my own father.

When I was in junior high school, my father got me a job working for a wealthy family with a huge home. My father had several yards he was serving. I can remember him push, mowing large yards (1 acre) for $20. To me, that was cheap. He would perform a lot of work for small sums of money. Well, I started working for this family. I was a boy Friday. I worked all sorts of odd jobs outside, including cleaning out flower beds. It was really a lot of work and hard work. In the middle of the day, my father would visit me. The wife of the home would come outside and bring us water and prepare lunch for me… peanut butter and jelly sandwiches. I would thank her. I could tell that, inside, my father was laughing at me. I ate sandwiches.

My father knew I hated peanut butter and jelly sandwiches. Despite this fact, I ate those sandwiches and thanked the wife. I would work at least five hard hours. At the end of the day, the wealthy owner would come out and hand me $6. This wealthy man was extremely cheap. He thought he was doing me a favor by giving me an extra day (he was paying me a $1 per hour). However, I can remember that the minimum wage at the time was about $3.15. My father knew that this was crazy to work a teenager this hard for nothing. Yet, my father never said anything to me about this situation. The following are the lessons that I learned from my father:

  1. Always work hard, even when people are not watching you.
  2. Master a skill to the best of your abilities.
  3. Create a product or service of value and someone will always pay you for it.
  4. Always be respectful and polite to customers, even when you think you are being taken for granted.
  5. Always know your worth. People will often pay what you suggest. Make sure you are not underselling your value.

From working with my father, I learned some hard business lessons in life. In fact, that situation drove me to always get paid what you are worth in any job situation. I learned that I had to value my expertise and that some people would take advantage of you if you do not understand your value. That experience with the wealthy family taught me a lesson that I could never get at a business school or from a management expert. I learned this lesson from a hard knock.

unnamedMy father, in his own way, was grooming me for the decisions I would later have to make as a man. No! I know he never imagined that I would be an engineer. He would not have thought I would be an author of several books. He probably never envisioned as a business owner.  But—my father knew that I would need to have a basic understanding of life and how to manage as a man regardless of what happened to you. My father, Edward Elias, made a lasting impression on me as a man and a hard-working business owner. This business savvy will have a lasting impact on future entrepreneurs in our family. Knowledge is wasted if it isn’t used. I have always tried to pass on this simple wisdom of my father to everyone that I happened to meet. R.I.P my dear father!

© 2019 by D. D. Green

Please share your insight on this topic.

Providing Good Customer Service

If America is going to survive this economic crisis, businesses will need to change what they are doing. Behind this backdrop is a lack of understanding of a holistic approach in providing good customer service. Companies should not believe that they can provide good customer service while treating their employees badly. Bad treatment of employees will eventually show up in unpredictable ways.  

I’ve spent some time studying customer service as a practitioner and scholar. In fact, one of my star MBA students, Jalene Nemec Davis, and I co-authored book Good Customer Service: The Definitive Handbook for Today’s Successful Businesses.  United States companies are finding it harder to compete abroad. Is there any wonder why some individuals want to give up? This article examines how to create an amazing customer service for sustainable success. What follows will help you revamp your organization and, hence, the focus of your business’ customer service.

Defining good customer service is an essence. Before you can decide what good customer service is, you must first think about what it means to your company or your industry. Defining what good customer service is for any one company is difficult. A hospital’s idea of good customer service will differ from that of a restaurant. To help you determine how it is defined for your company, look first to your mission statement.

Every little detail counts for good customer service.  Paul B. Thornton, a Massachusetts-based business consultant and author of Leadership-Best Advice I Ever Got, suggests, “Customer service should, if written well, state what is most important to your company and why it exists. It should focus on the organization and keep everyone going in the same direction to achieve the same goal.” After all, when it comes to customer service, no matter the industry, isn’t it getting everyone to work as a team believing in the same mission? The mission being to service their customers to the best of their ability, regardless of whom they might be (shareholders, consumers, suppliers, co-workers, etc.). Look again at your company’s mission statement; does it include providing good service to your customers?

Build an organization that is built to serve the needs of the customers and be prepared to see better results. In fact, the business must determine what kind of customer service you and your company want to provide. Businesses should ‘WOW’ their customers. Organizations should create memorable moments for their buyers. Here’s a test. Take out a piece of paper and jot down what first comes to mind. Review your list. Are the items listed those that your customers truly value? If not, that is okay. In business operations, sometimes it is difficult to separate what the company wants versus what the customer wants because most companies only want to see the bottom line.

In fact, review some businesses that are very successful in the realm of customer service and see where they place customer service as part of who they are as an organization. For example, Let’s review Southwest Airlines, one of the most reputable airline companies. This airline states, “Southwest Airlines is a company that is for anyone and everyone that wants to get from point A to point B by flying. Our service and philosophy are to fly safe, with high frequency, low-cost flights that can get passengers to their destinations on time and often closer to their destination. We fly in 58 cities and 30 states and are the world’s largest short-haul carrier, and we make sure that it is run efficiently and in an economical way.”  

With enormous competition for customers, can you afford not to provide good customer service? Does your mission state measure up to the needs of your intended customers? This article demonstrated how to create an amazing customer service for sustainable success. In the end, customers are individuals who determine good customer service. Therefore, businesses should think from the mindset of the buyer, not the seller. Even if you cannot see room for improvement off-hand, what I have to say may strike up some ideas that will prove beneficial to you and your company. I pray that it is not too late.

Please share your insight on this topic.

 

© 2019 by Daryl D. Green

About Dr. Daryl Green:

Dr. Daryl D. Green is the Dickinson Chair of Business professor at OBU’s Paul Dickinson College of Business, teaching leadership, management, and marketing. In 2016, Dr. Green retired from the DOE, where he worked in the Environmental Management Program for over 27 years. He is the author of Amazon.com Hit Job Strategies for the 21st Century: How to Assist Today’s College Students during Economic Turbulence. For more information, please visit http://www.darylgreen.org.

Gaining More Job Opportunities With LinkedIn.com

Today’s job seekers face a landscape of great opportunities as employers look due to growing competition and limited job openings. In fact, college graduates are under tremendous pressure to land a high-paying job to cover their college debt. In recruiting young engineers and scientists at the Department of Energy, I soon discussed a major disconnect between what employers desired from potential employees (i.e., college students) and what today’s job seekers expect of employers. According to a Glassdoor.com survey, each corporate job on average attracts over 250 job applicants. Of those individuals applying, four to six will be called for an interview. However, one person will get a job offer. With that said, individuals need to implement the right job strategies to be successful. This article examines how LinkedIn.com can help you build your professional brand for greater job opportunities.

Are you ready for the competition for your ideal job? According to Business2community.com, 427,000 resumes are posted each week on Monster.com, an online job board; 8 million job applicants said they found their job on Twitter.com. Having an online presence is vital for today’s employment opportunities. LinkedIn is the perfect digital footprint for working professionals. Being the world’s largest online professional network, LinkedIn.com has more than 467 million members in over 200 countries and territories. Professionals are signing up on LinkedIn.com at a rate of more than two new members per second. In fact, 89% of employment recruiters have hired through LinkedIn.com. College students may flock to popular sites like Facebook, Twitter, and Instagram. However, LinkedIn is the website that makes them credible to future employers while building their own personal brand.  

Getting started on LinkedIn is easy. Connecting with the right person can increase career networking opportunities with the basic “Six Degrees of Separation” principle. In 1929, Hungarian writer Frigyes Karinthy coined the term ‘six degrees of separation.’ According to Whatis.techtarget.com, six degrees of separation is the theory that “any person on the planet can be connected to any other person on the planet through a chain of acquaintances that has no more than five intermediaries.” When a person is established on LinkedIn, the individuals can see how their connections are linked to other influential people. To get the most attention on LinkedIn, individuals need to achieve the “All-Star” status. Some of the requirements include a completed LinkedIn profile, including a professional photo and summary. Below are steps to build an effective LinkedIn Profile:

  1. Submit a professional photo.
  2. Create a catchy headline aimed at potential employers.
  3. Write an incredible summary statement.
  4. Select a unique LinkedIn URL for your profile.
  5. Obtain recommendations from professors, employers, coaches, and other influencers who can speak to your character and leadership abilities.
  6. Post relevant articles on your LinkedIn profile (i.e., LinkedIn Pulse) that demonstrate your critical thinking and writing style.
  7. List appropriate work and volunteer experiences.
  8. Upload presentations and written documents that showcase your professional abilities.
  9. Follow businesses and organizations that are potential employers or contacts.
  10. Join LinkedIn Groups that add to your professional network.

With fierce competition for jobs, job seekers need to present a great image to future employers. LinkedIn provides an excellent gateway to more employment opportunities online. This article demonstrated that LinkedIn.com can help you build your professional brand for greater job opportunities. Unlike traditional social media platforms like Facebook, LinkedIn allows individuals to establish professional networks, obtain needed resources, and foster a professional relationship with prospective employers, clients, and partners. Creating an effective LinkedIn Profile can garnish great career and professional networking opportunities.

Please share your insight on this topic.

© 2019 by Daryl D. Green

About Dr. Daryl Green:

Dr. Daryl D. Green is the Dickinson Chair of Business professor at OBU’s Paul Dickinson College of Business, teaching leadership, management, and marketing. In 2016, Dr. Green retired from the DOE, where he worked in the Environmental Management Program for over 27 years. He is the author of Amazon.com Hit Job Strategies for the 21st Century: How to Assist Today’s College Students during Economic Turbulence. For more information, please visit http://www.darylgreen.org.

Finding Your Ideal Customers

Today’s businesses must build value for customers if they hope to be successful. Yet, value is a moving target. In our discussion, we will examine how businesses should target their ideal customers by building value for their customers. All customers do not have the same measuring stick for sellers to apply a cookie-cut approach. In fact, globalization has created all types of problems for businesses. One of the issues is how to stay ahead of the competition by exploring new markets while keeping the same customer base. Doing this action is not easy. Many businesses build their profitability on this simple equation. Companies seek to reduce their inputs (i.e., outsourcing labor, using better technologies) to obtain greater profitability. Still, the process is often self-serving with little regard to the customer and lesser value on employees. Therefore, many people might insist that some businesses simply stumble on what customer value is and how it affects their business.

Creating value is not that simple. Some businesses seek to take shortcuts in building relationships with customers with marketing smoke and mirrors. Some organizations simply believe that hiring a large sales force is enough. Jeb Blount, author of Fanatical Prospecting: The Ultimate Guide for Starting Sales Conversations and Filing the Pipeline by Leveraging Social Selling, Telephone, E-Mail, and Cold Calling explains, “Lots of salespeople have the intelligence, talent, skills, and education to be top performers. Lots of salespeople are competitive, understand the sales process, and know how to ask for the business. Yet they consistently underperform the superstars… Superstars are relentless, unstoppable prospectors. They are obsessed about keeping their pipeline full of qualified prospects.” Thus, knowing your customers intimately will serve small businesses in creating value for customers.  

Creating value does generate ideal customers.  In identifying ideal customers, businesses target group of marketings who are most attracted to their products and services.  Therefore, businsses tailor their marketing, advertising, and sales efforts for these type of customers. Value is defined as “the total benefit that the seller’s products and services provide to the buyer.” Stephen Castleberry and John Tanner, Jr., authors of Selling: Building Partnerships, argued the critical need for value creation: “Selling is about creating value… The manner in which a product is handled suggests value. Careful handling communicates value, whereas careless handling implies that the product has little value.” Sadly, some business owners do not comprehend how value creation works.

John Jantsch, the author of Duct Tape Marketing, also maintains that building value for customers is no accident: “You can choose to attract clients that value what you offer, view working with you as a partnership, and want you to succeed…” For example, Shawnee’s Chick-fil-A Owner Jeff Madison understands the merit of this concept. Retired U.S. Army Colonel with 26 years of leading U.S. and multinational soldiers and civilians from cavalry scout platoon to the Pentagon, Jeff recognizes the essential of deploying a combat-proven, critically reflective, innovative and decisive strategy in ever-changing conditions. Despite all the MBA type strategies, success starts with building value for customers. Jeff explains, “We create value for our guests by connecting with our guests beyond the transaction (taking their money at the cash registers). We offer genuine hospitality and Matthew 5:41 Second-Mile Service. We carry trays to the table for guests who need assistance.” Madison seeks to build an emotional connection with customers.

With the economic crisis, local businesses need to consider changing what has not worked. In today’s discussion, I demonstrated how businesses can benefit themselves by understanding how to create more value for their customers. Being strategically conscious of these business relationships is stress-free. This process takes everyone’s total involvement. When small businesses place value creation as a high priority, prospecting for winning customers is a lot easier and more beneficial in the long run.

Please share your comments on this topic.

 

© 2019 by D. D. Green

Growing Your Small Business With Fiverr.com: Tapping into the Gig Economy

Bringing in a New Year creates a sense of renewal and opportunities. Yet, many small businesses have a ‘wait and see’ attitude riddled by uncertainty and unpredictability of the future. Most organizations have limited resources and must be cautious about their business growth. If you own a small business, what could you do with an extra stack of cash in your pocket by reducing your expenses while improving the quality of your goods and services? Over the last few years, I have been researching the freelance market in order to assist small businesses with the resource deficiencies that most organizations face.

With uncertainty in the market and competition at a peak, most organizations should rethink their business strategies. December’s outlook was not entirely positive. The fourth-quarter marked the worst start for stocks in 10 years. Many experts are skeptical about the economy for several reasons including: failure of popular tech stocks and the fallout from the trade fight between the U.S. and China. There is a weakening global economy that is wreaking havoc to U.S. companies. According to the Commerce Department in December, U.S. factory outputs were showing signs of slowing down. All of these realities demonstrate that businesses are not safe by maintaining the status quo. Things are changing… like it or not. One of the glaring trends was a search globally for talent. While Fortune 500 Companies have the financial strength for this international initiative, most small businesses could not do this… until now.  In this discussion, we examine how today’s small businesses can leverage the power of the gig economy to secure great freelance talent to maximize their performance. Continue reading