Atticus Newsletter Articles
Our newsletter articles, written by Atticus Principals, provide thoughtful insight into topical business issues. We strive to provide you with information that can be applied to your business right away.
If you have any comments or questions about any of these articles, we would like to hear from you.
Articles
Competitive Selling - The Newest Evolution in Sales
We all know, or should recognize, how vital the sales department is in any company. Unpredictable sales make business management downright difficult if not impossible. And worse still is that undeniable bottom line – no sales, no company!
The 2nd Annual Atticus Survey: Help Businesses are Looking for in a Sluggish Recovery
In 2010, business leaders say they are turning their attention more to rebuilding company sales, business processes and work forces when compared to last year when saving money and survival were their top priorities.
Succession Planning is Usually Done Too Late
When a business doesn’t do succession planning in advance, events may force it to do so when it’s too late. Many factors determine whether succession planning is necessary, and sometimes the logical and easy choice will be to simply sell the business whole. However, many owners want their businesses to continue after they've left.
Three Surefire Ways To Botch Buyer Surveys
If companies don’t listen to what their customers are saying, they’re not going to be customers for long. Effective surveys and interviews are two of the best ways to listen to your customers and to forge lasting partnerships and relationships.
Once a year, especially during a slow recovery, business owners and executives must answer nine key questions if they want to ensure that their company isn’t simply drifting along without a clear sense of where it should be going or how it will get there.
The Old Normal Is Not An Option
Manufacturers must hit the reset button because the “old normal” isn’t coming back. Cash is hiding in the supply chain but too few companies even think to look for it there.
How The Economic Downturn Changed Buying Habits
The hey-hey 90s are long gone, and there is an ongoing shift in buying patterns that has major implications for businesses of all sizes, regardless of whether they sell services or products.
Protecting Profits from A Soaring Loonie
Hedging currency risks with options can shield a business from the horror of selling at one price and getting paid at another, lower price. In a time of wildly fluctuating values between the Canadian and US dollar, hedging takes one potential problem off the table.
2010’s Biggest Digital Trend: Delivering ROI on Digital Media Investments
Shoppers are looking to the opinions of other shoppers before buying something – both online and in-store. The bigger the ticket, the more online research they do, bringing together retailers, manufacturers and social media.
Leadership Means More than Sitting in a Corner Office
There is a recurring theme in many companies: the disconnect between the message managers think they are conveying about acting with the best of intentions and the one actually being received by employees.
Here’s A Surprise: IT Should Produce Its Own ROI
New technology is usually sold by making a “good business case.” But, too often, companies cannot identify actual cost savings or revenue increases pegged to new IT.
As The Economy Goes Down, Crime Goes Up
Whether you run a small shop or a growing operation, your business may be increasingly vulnerable to theft and other crime during the recession. And burglar alarms or motion detectors aren’t the answer.
Atticus Survey: Recession-Survival Help that Business Wants
As companies begin feeling the effects of the recession, there are five management areas where executives and owners are looking for strategic and tactical help. Atticus research during the fourth week of January turns up intriguing information.
News reports abound about businesses being hit by an “economic tsunami”. But executives and owners who understand that we’re experiencing not just an economic, but a “competitive tsunami” as well, are the ones most likely to survive the recession, and emerge from it strong and healthy.
Which Half of Your Marketing Budget is Wasted?
Many companies spend a lot of money raising awareness, creating “brand loyalty,” showing up at trade shows and promoting their products or services. In good times, a few wasted dollars aren’t noticed; in a deepening recession, it’s crucial to assess how the money is spent.
Credit Crisis? Nonsense! It’s Easy to Borrow Money – if You Know Where to Look
It’s actually easier right now for many small and mid-sized businesses to borrow operating funds than it is for major corporations, if they’re willing to pay the price and know how to navigate a slice of the financial world where knowing someone who knows someone is key.
Turning Data Into Knowledge Produces Recession-Proof Customer Relationships
The challenge for many companies is recognizing the difference between being overwhelmed with data versus building a knowledge base that can be used strategically with customers for everyone’s benefit. Converting data into knowledge is crucial for strong customer partnerships – particularly in a downturn.
You Don’t Know What You Don’t Know
Managing in a troubled economy means getting enough information so you can ask the right question that gets you more information so you can ask the next question. But first, you must know what you don’t know.
Is Business Heading Up, Down Or Sideways?
It’s hard not to pick up a paper or go on-line without seeing the dire news of problems on Wall St., in London and across major Asian business centers. The question isn’t whether a global business downturn has begun, it seems to be how bad it will get.
The Worst Decision Is To Do Nothing
It’s easy to think that by doing nothing means not making a mistake. But doing nothing is a decision, allowing outside forces to control the future. Not enough executives ask themselves, “Did I make a decision or was my decision to do nothing?” With recession looming, it’s more vital than ever for businesses to remain master of their own fate.
A Solid Logistics Plan Ensures Peak Season Survival
In logistics and processes, the unexpected happens far too frequently. Yet even the unexpected can be anticipated with a bit of preventative medicine.
Selling “Value Added” Doesn’t Work Anymore
Companies are changing how they sell, employing new approaches that mirror the way people want to buy. This means that people who sell don’t need sales “skills” but must become experts in understanding and managing the buying process.
India’s innovation, skills and growing managerial prowess aren’t just being reflected in the IT industry. The fact that India is also becoming a global source for small-run and mass-niche manufacturing is something that should be looked at by Canadian companies.
Maintaining Growth In A Threatened Recession
By focusing on key needs and weaknesses, a company can punch through a recession’s growth-limiting “concrete ceiling”.
With Global Credit Tight and Banks Saying “No,” There Are Still Lenders Who Will Say “Yes.”
Small-to-midsized businesses are feeling the global credit crunch first. Savvy borrowers know their business and financial plans must be more than a spreadsheet with sales goals in order to obtain borrowed capital. Even when money is tight, many lenders are eager to finance a good story.
Micromanaging Is A Common Mistake of Owner-Managers
It’s the “law of unintended consequences” kicking in: When one person insists on making every decision, too often the micromanaging reduces efficiency and productivity in the business instead of adding solid controls.
The Head, Body and Heart Must Work Together When Managing Change
Change within a company is often frightening, and it can become absolutely terrifying for some people if management does not understand the importance of engaging everybody’s heart, body and mind in the process.
Well-Managed Companies Are Not Always Well-Led
The reverse is equally true. As a business expands, good management does not always equal good leadership. It is critical for owners of growing businesses to know which one they are best at doing, and to hire people to take care of the other.
Selling Is Dead. Companies Still Selling May Die Soon, Too
There is a revolution occurring in sales that every executive must understand. Recent scientific studies indicate that new models are creating a transformation in the way we view selling, leading to a new framework and an urgent need for new skills. Companies that adapt quickly see sharply increased revenue – and profits.
Driving Blindfolded Is A Recipe For Disaster
Owners, executives and managers need to bring a scientific decision-making process to their businesses. To do so they not only have to measure the past but also to plan and measure the future. The way to do this is to stop driving blindfolded and look at the executive dashboard.
Developing A Proactive Strategy To Deal With The Soaring Loonie
That is the challenge confronting many Canadian businesses that profited from exports to the US when Canadian dollars were cheap, especially since the Loonie is likely to outpace the US dollar for years to come.
Outsource Your Business for Greater Financial Success
Companies outsourcing supply chain management are improving profits by up to 20% and productivity as much as 40%.
Stop Selling And Grow Your Business
Businesses continue to use sales techniques that customers say mean little to them. In savvy, growth-oriented companies, sales people are not learning sales skills; they’re becoming experts in managing the buying process, increasing sales and margins as they do and making their competitors irrelevant.
Adequately Insuring Intellectual Property Is The Latest Business Headache
With so many fast-growing and highly profitable businesses dependent on ideas stored as “1’s” and “0’s” on a server, insurers are scrambling to catch up.
Data Backup and Recovery A Concern for Businesses of All Sizes
Eventually some part of your computer system will fail. What will you do to protect the business when – not if – that happens?
Helping Lenders Say “Yes” When A Credit Crunch Looms
If a credit crunch is coming, emerging and midsized businesses will feel it first. So, smart borrowers realize that their business and financial plan must tell a story that’s more than a spreadsheet and sales goals. The really smart ones also know that many non-bank lenders are eager to finance a good story – even when money is harder to find.
Finding Hidden Gems: Driving Revenue by Licensing Intellectual Property (IP)
Identifying new sources of revenues from existing IP assets is often overlooked, but a focused strategy can turn an expense into cash.
Don’t Let Your Best Customers Become Your Competitor’s Best Customers
Build “account share” by making customers more loyal as part of a company-wide strategy. This is how key customers let suppliers into their “inner circle,” giving them a larger share of their business.
Strategic Alliances Should Be A Solid Growth Tool
A well-thought out alliance should produce “1+1 = 3” outcomes. But too many strategic alliances end up being less than the sum of their parts because serious questions were brushed over before sealing the deal.
Don’t Pile Misery On Top Of Misery
Few executives realize what can happen to a business if disaster strikes – even if insurance covers repairs and regardless of what caused the interruption.
Why Cross-Selling Efforts Often Fall Short
It’s an on-going issue for nearly every business: how to effectively sell more to existing customers. Not surprisingly, most companies say that their suppliers go about it the wrong way.
Self-Delusion and Other Popular Paths To Failure
A new study suggests that too many executives delude themselves into thinking that success lies at the end of a path of specific steps. Actually, following that road usually leads to failure.
Nurture Sales Leads Until They’re Ready To Buy
A new report says that half of all sales leads want to buy, just not right now. Meanwhile, they’re not fully tapped. Between 40% and 80% of new business leads are lost, not followed up upon, or otherwise mishandled because of poor company processes.
Gain A Competitive Edge By Not Feeding The Beast
It pays to take a hard look at ways to improve your internal operations: Many companies keep feeding a “hidden organization” in their company whose profit-robbing appetite is enormous.
Keeping Sales Goals From Being A Mad Dash To The Finish
Atticus’ interactive sales tool shows the real cost of not working towards sales goals beginning early in the year. An on-line demo is showcased.
Managing Perceptions: Minimizing Customer Complaints Before They Become Problem
Customers are angry and their frustration is approaching rage. Although many companies care deeply about service, too many consider the complaints desk a cost centre worthy of cutting.
Harvard B-School Change Guru Says World Is Changing Faster Than Businesses Are Adapting
Changemesister John Kotter claims the good news is that organisations are better at managing change. The bad news is the world is changing even faster.
Follow-up: More Multi-Billion Dollar Acquisitions By India
Last month, we reported on India’s growing might as a global economic powerhouse. Then, The Tata Group acquired Anglo-Dutch steelmaker Corus for £5.75-billion (about C$12-billion) and India's top aluminium producer, Hindalco snapped up Canada’s Novelis Inc. in an all-cash deal.
A Marketing Plan Is Simply The Roadmap
Too often, senior executives and business owners mistakenly believe that they have a marketing plan when what they really have is a set of sales goals. But a carefully thought-out marketing plan, driven by the overall objectives of a business, is a roadmap detailing how the company will use marketing and sales to get from where it is to where it wants to be.
AN ATTICUS CASE STUDY: When learning and teaching go hand-in-hand, both partners gain
The overworked phrase “doing business in China” carries with it visions of tremendous possibilities as well as potentially huge headaches. Just getting started can be difficult: Searching for the right joint venture partner and then concluding negotiations.
Vietnam joins the WTO – Will it be the next Asian "Hot Spot"
As recently as two or three years ago, few companies in Canada considered Vietnam as a possible source for off-shore manufacturing or sourcing.
India: Another Asian Tiger Stalks The Earth
In 2006, India became a net exporter of capital. It only took a decade for India to transform itself from an emerging economy to a global business force.
The on-line version of The Times, a London UK daily newspaper, just published the results of a new study which harshly criticizes business executives for their lack of leadership skills, poor training for managers and the tendency to "focus on the here and now rather than encourage debate or long-term planning or change, because they are so focused on keeping things going."
Raw Material Optimization - An Abundance of Cost Optimization Opportunities
Businesses are increasingly establishing a competitive advantage by re-engineering their supply chain. Any positive change requires fresh thinking and a new approach, not only to stay in business but to sustain consistent growth as well.
Do we have a North American Common Market?
As the “Border comes down” and we see the blending of Canadian and US markets, the question becomes more important: “What is the most efficient way to run a business that spans both countries?”
How to retire on the value built in your business
Corporate types take their pensions and professionals convert their RSPs. But business owners face a unique situation as they look towards retirement. Who’s going to buy my business? What’s it worth? How will I get paid out?
Disruptive Innovation – Battle Cry of Emerging Enterprise?
“Disruptive Innovation” describes how new technologies can overthrow the competitive advantage of even industry powerhouses. The phrase is now used to insinuate opportunities that are beyond the reach of established competitors. But that is not a complete interpretation.
Do You Have Real Brand Or Just A Catchy Slogan?
Slogans are catch phrases; a brand is something you and your customers or clients believe in.
The Impact of Effective Human Capital Management
Human capital is a leading indicator of shareholder value. Can the way a company manages its human capital significantly affect its financial performance?
Don't Let A Faulty Document Retention Policy Become Your Company's "Smoking Gun"
Not just publicly-traded companies need a strong, up-to-date document retention policy. Every business that might be sued, brought before a tribunal or face regulatory scrutiny needs one – and not just for paper documents.
Survey: Few Ontario Businesses Have A Document Retention Policy
Less than half say they have such a policy even though 80% say they’ve been involved in a lawsuit. Of those with a policy, only a few have enforcement procedures in place to make sure it is followed.
Interim Management Offers Relief for Hard-Pressed Canadian Manufacturers
Experience in the United Kingdom shows how Canadian companies facing cost or profit squeezes can use interim managers to become leaner and fitter, faster.
Time - The New Currency for the New Economy
Jim Croce sang about how he wanted to “save time in a bottle.” His hit remains a favourite, even more so now that time is such a valuable currency.
Project Management is More Than The Apprentice: What You See Isn’t What You Should Get
As reality TV goes, The Apprentice is hugely successful. As a realistic depiction of a project manager, it flops.
Coming Across as Believable: Many Executives Fall Short
Many knowledgeable, authoritative and credible executives, managers and professionals can appear totally unbelievable at the very moment when they need to be most convincing.
Project Management and the CEO: It Starts At The Top
Why be concerned about project management? The success of any project begins at the CEO’s desk and the buck starts with you!
Why Emotional Intelligence Matters in Business
There is ample evidence that emotional intelligence is a better predictor of an executive’s success than IQ, industry experience or technical expertise.
A Different Approach to Freight Costs
Many managers do not realise that the impact of freight can be one of the largest costs facing an organisation.
Making Skills Work: The Myth Of The Natural-Born Leader
Chairmen and chief executives regularly argue in their annual reports that “our people are our greatest asset”, but companies avoid the issue of management skills and training.
For Canadian companies, the time to assess China is now.
Don’t Wait For A Crisis To Plan A Crisis Communications Strategy
Even organisations that cannot imagine facing a crisis could suddenly be mired in one. The time to develop a crisis communications strategy is not when the fire trucks and ambulances are arriving.
Lawyers and their clients: One is in the attic and the other’s talking spaghetti
A new Atticus Interim Management Study shows wide gaps between what clients say they really want and what their lawyers think they want.
