I thought product would end my envious glances and my collegue's iphones, it hasn't. ...<< MORE >>

The end of September brought up the anniversary of our first year in business at Thompson Marketing Consultants. I would like to share some of the insights that I have gathered this year with you.

Its your business, you make the rules!

A fellow thought leader, Taki Moore,  shared this one with me recently. We were having a discussion about clients who want lots of time and support but are not willing to pay for it. Clearly, this is an unsustainable business position.

If you're in your own business, then you make the rules about who you're going to play with and on what grounds. Sometimes it takes a lot of confidence and courage to stand your ground when a client is demanding unfavourable terms. A person in a position of power, knowing their strengths and value won't cave into this pressure.

This is something that I'm still coming to grips with. But it is a powerful position when you are prepared to walk away from a client if the terms are not to your liking.


"Every dollar is a good dollar" is not true

Business sustainability (not the ecological kind, although its equally important) means that you can't afford to lose money on clients. Sometimes this is not so easy to see upfront, but the real cost of acquiring, servicing and keeping a client needs to be understood BEFORE dealing with them. Knowing this one from the start would have saved me a lot of time, money and pain.


If a client is a pain to acquire they will be a pain to service

A simple principal I have discovered - the best clients are easier to sell to, will be less demanding and will have no issues paying. Its the one that you really have to work hard to convince that will complain and demand more of your time and destroy your profitability.

Apologies to any clients who might be reading this and thinking its you, I promise its not!


Having fun

If you're not having fun, you're no fun to deal with. Who wants to spend time, build relationship, or do business with a boring person or company?

Early on, I thought that being professional meant being formal, serious, and kinda boring. The more of my own personality and story that I have allowed to show through with clients, the more success this has brought in.


Don't wait to do something great

I have a vision for social enterprise and action that I expect to take several lifetimes to fulfill. I was putting off getting started in this until we had achieved a greater measure of success, and more capital. Why? I thought I had too.

Upon re-examination, I realised that I could build social enterprise into every step of the business from right where I was. What I had been putting off was not going to tie up nearly as much capital as I had expected. We could get started making a global impact from as little as $10 a week!

Just a few insights, there were plenty more but I'm keeping some to myself. Have a great 2009!

        

Seth Godin wrote the post below recently. Its stating the obvious, but there are so many get rich quick schemes online, I thought it was worth a mention.

Too good to be true (the overnight millionaire scam)

You probably don't need to read this, but I bet you know people who do. Please feel free to repost or forward:

Times are tough, and many say they are going to be tougher. That makes some people more focused, it turns others desperate.

You may be tempted at some point to ...<< MORE >>

Now heres thinking - it takes more than weaponary to win a war. The BBC reported this week that they will be employing a new media tactic in Afghanistan to combat Taleban propaganda.

Whichever way you swing politically, you have to give them credit for being innovative in their approach here. According to the BBC report

"The programme involves using new media like mobile phones and the internet to empower ordinary Afghans to contradict the prevailing Taleban message.

Non-governmental organisations would distribute mobile phones to Afghans for them to make their own video diaries.

Anti-Western films already circulate ...<< MORE >>