Speed

Have you ever truly looked over the value of speed as it relates to your companies growth, strategies, sales, delivery and expansion? I personally rate this as one of the highest valued items in our agency and in any company.

Speed. How fast you can take an idea into execution to make that idea a reality. Speed is your friend and time is your enemy. Speed of delivery. How fast can you deliver your product or service with the highest level of quality. Speed of sales. How fast can you find your audience, prospect, sell and close them to create hoards of new business.

Speed is something you should measure, if you don't already. People talk frequently about competition, what the other companies are doing etc. If you master speed, the truth is, there isn't any real competition out there. Most companies are slow. Most people are slow. Competition is a highly overrated concept. Focus on speed and the "competition" becomes something that you view from a distance scratching your head wondering how and why they don't get it.

Even looking at today's economy, if people and companies operated faster, new companies started fasted, decisions were made faster, speed became a central and crucial element of the marketplace, we wouldn't have a problem. The economy would recover swiftly and new fresh funds would be produced and circulated quickly.

Sometimes simple answers are the hardest to figure out but are ultimately the best solution.

Make a point this week and next to execute tasks faster. Speed up your cycles. Look at how you can take the time out of the equation on situations and your production will increase. Look at all the applications of speed and figure out how to put them into action.

- Speed of sales
- Speed of promotional ideas to get them into action
- Speed of quality delivery
- Speed of internal communications
- Speed of external communications
- Speed of news to the market
- Speed of promotional updates or changes such as websites etc
- Speed of hiring, training and executing actions
- Speed of meetings and phone calls

While this may sound a little overboard - it's not, I assure you. There are slownesses all throughout your personal actions day to day as well as throughout your company and I promise, it's costing you the game. Take speed seriously. Get disciplined about it and your "competition" will become a silly concept. Companies are slow, people are slow ..... take advantage of it.

- Robert Cornish
CEO, Richter10.2 Media Group

Get Organized

Just a brief comment on the importance of being organized and having clear systems and administration for your company.

I personally feel that a huge amount of profit is lost in this area. A lot of companies are strong in sales or delivery or customer service but not many are truly strong in administration. In other words, your process, operations, systems etc. Really think it through and make a checklist of the areas that need to be addressed.

Here is a starting point:

- Flow charts for all key areas and functions like sales, delivery, finance posted on the wall so they are viewable for training and drilling

- Progress boards to monitor and track key actions so you can manage and push progress week to week

- Clearly defined positions and actions for each person in written format so your people can study them and become competent for their position

- A form of measurement for all key company indicators that can be tracked weekly to compare from week to week and to set targets for improvement

- Checklists or procedures for handling specific actions like collecting income, closing sales, delivering to new clients in order to have exact sequences that are followed every time without fail

These are just a few basic fundamental points to look into. The basic message here is that time and time again I see companies losing opportunities and income simply by lack of planning, lack of systems and lack of organization which results in chaos and confusion in the company making people look busy when in actual fact it's unproductive business.

Make all systems and functions clearly defined and ensure you have procedures that are organized and orderly in all areas and your production level will go through the roof. It's not time you lack, it's a lack of administration that organizes processes to create more time for you. Inefficiencies are expensive.

Our agency tends to get about a months work done in a week simply because we are organized and can execute and have systems for everything. Don't run around and say your busy and have no time... get organized, be ruthless about your systems and create time in order to focus on doing more to expand your company. Dissect your processes and jam in orderly operations and you'll see what I mean.

- Robert Cornish
CEO, Richter10.2 Media Group

A Lead Vs. A Reach

We recently introduced our Pay Per Performance model which takes all of the risk off the clients and strongly motivates our team to produce results. While discussing this over and over with many prospective clients, the question of a lead vs. a reach has come up frequently and so I wanted to write a brief note to clear it up.

While it’s easy to confuse a reach with a lead, they are distinctly different, one supremely better than the other. By the explanation below, I'll let you be the judge to decide which one is better...

Lead: It’s just that - a lead. It’s someone that may have some interest. It’s a possible business connection or a possible business development opportunity.

Reach: It’s someone reaching, interested, with a relationship already established. They already know about you, have heard about you and have a general understanding of what you do and now they want more. It’s the diamond of prospective clients that you wish you had daily.

Now let's look at the dictionary definition of each as taken from The American Heritage College dictionary:

Lead: 9. To begin or open with. To go first or guide. 3a. Information pointing toward a possible solution; 7a. The introductory portion.

Reach: 4a. To succeed in getting in contact with or communicating with. b. To succeed in having an effect on. 3a. Range of understanding; comprehension. 1. To stretch out or put forth; extend 3. To arrive at; attain

So from the above definitions, it's clear that a lead is the start, an introductory part or a beginning and a reach would be much further along than that and in fact is closer toward the end of the cycle. A reach entails someone reaching out for something. The introduction and start have all taken place and now it's at the point of stretching or reaching for more.

So as it relates to business development and new client procurement, which would you rather have?

Our agency exclusively deals with reaches for our clients... not leads. Our performance model is based on number of reaches which to me, is the most valuable thing to our company and and our clients companies.

For more information about our services, here is a link to a presentation on SlideShare - http://www.slideshare.net/Richter10point2/richter102-elevator-pitch-3791206

We Don't Cost a Dime...

There are many business items that are expenses which require a full financial review as well as budget analysis but we don't happen to be one of them.

We don't cost our clients a dime, in fact we typically make them at least 3 times what they pay us.

Think of us like a sports agent - we're here to make you money. That's our full time job!

Since I spend quite a bit of my time meeting with prospective clients and then following up to get them to move forward with a strategy, it always seems to boggle my mind when a deal is a touch slow or it's being treated as an expense.

When we have an opportunity in our agency to invest money into something that will make us more money, I personally clear the approval lines and get the finance people to cut the check because income lines need to be lightening fast and disbursement lines for expenses and budget related items need to be relatively slow and thorough.

My point here is this, review every financial item within your company and separate them in two columns:

1. Expenses that cost money but are required and related.
2. Expenses that drive revenue.

Once this is done you can prioritize and make the 2nd column items urgent. Buying a few desks can wait - put the urgency on income related spending!

The Power of Introduction

Defining the parameters of the platforms you use to establish and maintain you relationships online is vital to making your products and services known to the correct public. Consider the total time, money and energy you put into marketing your business. Are you satisfied with your results? Are you reaching those people most likely to be interested in your products and services?

"Work smarter, not harder" is especially applicable in the social media universe. Connecting to any random person on social media, sending out mass marketing style emails and blasting blogs constantly, but never taking the time to really introduce yourself to the correct audience is definitely working hard, not smart. Social media is full of people waiting to be found. Take the time to find the appropriate person and introduce yourself. You may not have a network of 23,000 friends and fans in the next six weeks, but what would that actually accomplish in terms of new business in the door anyway?

Building relationships with the correct public for your company can be easy once you make a sincere introduction. A great rule to live by is to only send out the exact kind of message you yourself would like to receive as a busy professional. Start simply, with basic information about who you are, what you do, and find out what might be needed or wanted from you by the person receiving the message. And don't forget to invite them to respond in kind, and when they do, really listen and acknowledge what they're communicating in return.

Selling your services and products to someone you've taken the time to forge a genuine connection with brings in more business, and is more enjoyable to both parties. Leave the spam to spammers. Life and business are about people. Always remember there's another "you" on the receiving end of every communication and you'll see great results from all social media has to offer.

White House Embraces Social Media

What is Social Media? Wikipedia defines it. “At its most basic sense, social media is a shift in how people discover, read and share news, information and content.”

With the success of Barack Obama’s campaign through the use of social media web tools to gain fundraising and support, the White House has officially launched pages on Facebook, Myspace and Twitter. This transition keeps web savvy citizens up to date on the latest news and information. You can probably imagine that Obama himself is too busy lately to keep up with his old Twitter account, so this new account is the perfect way for others in the White House to “tweet” on his behalf and keep people informed about what’s going on. 

In their ways of “old habits and stale thinking”, as stated by Obama, they are fundamentally changing the way that they do business in the White House. I believe the plan is to build a new foundation for the 21^st century and the way to go about it is by reforming the government so it is more efficient and more creative-through social media. 

In a recent blog post titled WhiteHouse 2.0, the White House says,

 “In addition to WhiteHouse.gov, you can now find us in a number of other spots on the Web: Facebook .com/WhiteHouse, Myspace.com/WhiteHouse and Twitter.com/WhiteHouse.”

As you can see, technology has profoundly impacted how and where we gain information. These sites like Myspace, and Facebook have become the ways of communication to one another. If you look, you can see the demographics continue to shift. Now more than half of the Myspace visitors are age 35 or older. New users pour onto these sites every day, not only to keep up the communication with their friends but also to get insight on what’s happening around the world. 

 It seems the White House has noticed that WhiteHouse.gov is an important part of the Administrators effort to reach the public quickly and effectively-but it isn’t the only way. 

Ali Magnano

Director of PR

Richter10.2 Media Group

http://richter10point2.com

The movie promotion strategy...

I was just reading several different magazines that all had the same person in each magazine and while reading I thought about the different demographics of each magazine. I was wondering why this particular celebrity was in the magazine I was reading because it didn't seem to relate; and then it occurred to me that the strategy is to gain the attention of every single media outlet and demographic to promote their new and upcoming movie.

I realize this may sound like a "no brainer" sort of speak however I hadn't thought of it before. I am now thinking about what a brilliant strategy Hollywood applies to promote their new up and coming movies and how they seem to be absolutely recession proof. Take a look at it yourself and you can start to think about how you are currently promoting your company in comparison to how you SHOULD be promoting your company....on a Hollywood scale!!!

Let's look at it for a minute, here are some of the strategies Hollywood applies to promote a new movie:

• An article with the lead actor in the movie in every single magazine they can be featured in
• Newspaper articles, reviews and advertisements
• Billboards
• Park Benches
• Postcards
• TV Commercials
• Internet Banners
• Websites
• MySpace
• Facebook
• YouTube
• Posters on the side of buses
• Taxi cab signs on top
• Posters in movie theaters
• Trailers on every media rich site online

Just think for a second if you didn't think about how much this all costs but what it would mean to your company and your bottom-line. Imagine creating this level of attention and controlling all of these medias to generate interest in your company. 

This level of promotion would drive in sales and revenue on a massive scale. Now, take a second and look at what you are currently doing to promote your company, really look at it. How are you promoting? 

Now although you may not be able to afford the same strategy Hollywood applies to promoting new movies, there are ways to gain a massive amount of attention and promote your company online that serve the same purpose and cost a fraction in comparison. While the entire world is going online for everything they need both business and personal, it is absolutely vital to utilize the internet to promote your company and get the attention needed to drive in sales and boost revenue. 

Take a full Web PR strategy as an example, this can include:

• Company blogs

• Articles

• Web Video

• Press Releases

• Communication tools

• Social Media outlets

• Press Kits

• RSS Feeds

This is just to name a few, now imagine if your company had a thorough quality Web PR campaign strategy that put your company name in a huge amount of pockets online to dramatically increase attention and actively make your company known which resulted in generating interest, reaches, sales and revenue. 

What is your online strategy now? Do you have a campaign in place? 

When there are little or big dips in the economy, the safest path to surviving is to dramatically increase your promotional actions that help to increase your sales actions and steadily increase your revenue. I realize that most people start cutting back and contracting their promotion efforts but those same people typically go out of business all together. 

From recent news I have read on some of the latest movies, Iron Man ($314M Gross), Indiana Jones ($317M Gross) and Tropic Thunder ($120M Gross), it doesn't appear that the economy has affected Hollywood in any way which leads me to the idea of promoting your company on a Hollywood scale to gain a massive amount of attention and generate interest to drive in sales and run revenue through the roof while sailing your way through the "bad economy"

By Robert Cornish

Managing Director of Richter10.2 Media Group

www.whywebpr.com