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Are you Satisfied?

Are you Satisfied?

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    Metronome

      In September of 1960, J.F. Kennedy engaged Richard Nixon in the first presidential candidates’ debate. Kennedy’s opening statement in that debate has now become the famous “I am not satisfied” speech.

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      Besides the rhetorical power of that speech in its repetitive use of the phrase “I am not satisfied…”, what is interesting about it is how Kennedy used it to pull the rug out from under what he knew would be Nixon’s strategy for the debate: Red-baiting. While Kennedy did start by describing the communist threat of the Soviet Union and China, the main body of the speech is about the internal failure of America. Kennedy stole what he knew would be Nixon’s main arguement (the communist threat) and turned it to a debate about domestic, social, and government failures.

      What Kennedy’s team rightly strategized was that in any competitive environment, political or businesses, sustainable success starts with focusing on your own house. You will not win the race by focusing on the competition.

      There are a number of reasons for this.

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      It’s always too late.

      Competing by focusing on the competition is always a ‘trailing’ activity. Your competition moves; you react. This carries the significant risk of always being too late to the dance, and one step behind the music. Further, it breeds a mindset that looks backwards and adjusts to the agenda of others, rather than looking forward and setting your own agenda to make your customers happy.

      It is usually inconsistent with your values.

      There are three main reasons why any initiative fails: inadequate planning, inadequate time, doing something inconsistent with who you are. In my experience new strategies undertaken by businesses that are not in keeping with their values (which are written down in their mission statement, right?) are inevitably abandoned, or worse, lead to unproductive distractions. And if your competition is dictating strategies, there is a great likelihood you will be reacting from a place outside of your best values.

      Your competition is probably wrong.

      In fact from a branding perspective, they almost certainly wrong. Your brand is primarily defined by how your customers perceive you, and by the relationship they have with you. From that perspective, making marketing decisions in reaction to a competitor will throw that relationship out of whack. If your competition really were right for your customers, they would be doing business with them. They aren’t, so focus your decision-making on the customer relationships you already have.

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      Your competitors are a distraction.

      Literally. If focus is one of the absolutely key preconditions for success, to the extent your competitors are able to distract you, they are taking your focus from your customers and your own values. By staying focused on the market environment, on what really matters to you, and on the most direct lines with your customers you will keep your competitors reacting to you rather than the other way around. This is exactly what Kennedy did in 1960. He had not heard Nixon’s opening statement yet, but his team had a pretty good idea that the main thrust would be the ‘communist threat’. Kennedy was able to use his superior rhetorical skills and the brilliant strategy of identifying the greatest threat to America’s security as being internal failures which weakened the country’s ability to deal with its enemies. This worked so brilliantly because it spoke directly to Kennedy’s ‘customers’: it touched their own deep vein of dissatisfaction with the status quo, and connected it to the ‘red scare’ of the times, synthesising a message of real power.

      How do you ensure you are keeping your focus where it belongs? Here is a quick practical checklist based on my work, that will make sure that you are focusing your energies on taking care of your own house:

      1. How are you spending your time? While some time should always be spent scanning your external competitive environment (most small businesses don’t take the time they should at this), the majority of your ‘scanning time’ should be spent finding out what your customers love about your business and what more they need from you.
      2. Size isn’t everything. Just because your competition has added a new space, a new outlet, or a new merger, doesn’t mean it’s the right thing to do for you or for your customers*. Remember that it’s about profitability, not just sales. Smaller, targeted, efficient operations are often more profitable than larger operations drunk on the big sales figures. And when it is time to move or expand, do so because your customers demand it, not because your competition is pushing you. Like your mother always said “If your competition jumped off a bridge, would you do that too??” She said that, didn’t she?
      3. Are your customers calling the shots? Building your relationship with your customers is more important and more productive than allowing your competition to drag you into a draining battle. Great customer relationships will always be your greatest sustainable competitive advantage. If you know more about your competition than about your customers, then you’ve got your priorities wrong. You’ve also got them wrong if your competition knows more about your customers than you do!
      4. Focus on financial basics: cash flow, profitability, retained earnings. Be as conservative with your financial strategies as you are extravagant in your customer service strategies. Then when the right time comes to make that competition-killing move of expanding or changing to a stronger location, you will have the financial foundation under you to make that move decisively.
      5. Does everyone on your team know where the priorities are? Communicate your priorities and values to everyone on your team and employee group. Let them know that when they are making day-to-day decisions about pricing, products, customer service, etc. that they should be very cautious about reacting to what ‘so and so’ is doing down the street. Remind them that if they are not responding to customer demand, they should re-examine their motives for action. Reacting to changes in the environment is very important, but it should not take their focus from your customers.
      6. Keep your own house in order. Literally. Is your space as attractive to your customers, and as functional for your employees, as it can be? Does your team have the tools to get the job done? Are there any barriers to productivity in your work place? Deal with those before you invest in a fancy new ad campaign just because Acme Inc. down the street did.

      As the last year or so has shown, on Wall Street and on Main Street, the most aggressive, competitive, slickest operations fall like a house of cards if they aren’t focused on what really matters: extraordinary relationships with customers, and sound financial, operational, and human resources fundamentals.

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      “It’s what’s on the inside that matters” is more than just something your grandmother would say when you first commented inappropriately on the phenomenon of physically unattractive people. It is the real foundation of a sustainably competitive business.


      * Size isn’t everything. Want real world proof? Check out the rise and fall of the Royal Bank of Scotland, vs. the Royal Bank of Canada. Until the financial sector reboot, there was lots of crying in Canada about “how come Canadian banks can’t be big and exciting and powerful and sexy like all those European and American banks??” I think we have our answer now.

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      Last Updated on December 13, 2019

      7 Steps For Making a New Year’s Resolution and Keeping It

      7 Steps For Making a New Year’s Resolution and Keeping It

      Are you keen to reinvent yourself this year? Or at least use the new year as a long overdue excuse to get rid of bad habits or pick up new ones?

      Yes, it’s that time of year again. The time of year when we feel as if we have to turn over a new leaf. The time when we misguidedly imagine that the arrival of a new year will magically provide the catalyst, motivation and persistence we need to reinvent ourselves.

      Traditionally, New Year’s Day is styled as the ideal time to kick start a new phase in your life and the time when you must make your all important new year’s resolution. Unfortunately, the beginning of the year is also one of the worst times to make a major change in your habits because it’s often a relatively stressful time, right in the middle of the party and vacation season.

      Don’t set yourself up for failure this year by vowing to make huge changes that will be hard to keep. Instead follow these seven steps for successfully making a new year’s resolution you can stick to for good.

      1. Just Pick One Thing

      If you want to change your life or your lifestyle don’t try to change the whole thing at once. It won’t work. Instead pick one area of your life to change to begin with.

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      Make it something concrete so you know exactly what change you’re planning to make. If you’re successful with the first change you can go ahead and make another change after a month or so. By making small changes one after the other, you still have the chance to be a whole new you at the end of the year and it’s a much more realistic way of doing it.

      Don’t pick a New Year’s resolution that’s bound to fail either, like running a marathon if you’re 40lbs overweight and get out of breath walking upstairs. If that’s the case resolve to walk every day. When you’ve got that habit down pat you can graduate to running in short bursts, constant running by March or April and a marathon at the end of the year. What’s the one habit you most want to change?

      2. Plan Ahead

      To ensure success you need to research the change you’re making and plan ahead so you have the resources available when you need them. Here are a few things you should do to prepare and get all the systems in place ready to make your change.

      Read up on it – Go to the library and get books on the subject. Whether it’s quitting smoking, taking up running or yoga or becoming vegan there are books to help you prepare for it. Or use the Internet. If you do enough research you should even be looking forward to making the change.

      Plan for success – Get everything ready so things will run smoothly. If you’re taking up running make sure you have the trainers, clothes, hat, glasses, ipod loaded with energetic sounds at the ready. Then there can be no excuses.

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      3. Anticipate Problems

      There will be problems so make a list of what they’ll be. If you think about it, you’ll be able to anticipate problems at certain times of the day, with specific people or in special situations. Once you’ve identified the times that will probably be hard work out ways to cope with them when they inevitably crop up.

      4. Pick a Start Date

      You don’t have to make these changes on New Year’s Day. That’s the conventional wisdom, but if you truly want to make changes then pick a day when you know you’ll be well-rested, enthusiastic and surrounded by positive people. I’ll be waiting until my kids go back to school in February.

      Sometimes picking a date doesn’t work. It’s better to wait until your whole mind and body are fully ready to take on the challenge. You’ll know when it is when the time comes.

      5. Go for It

      On the big day go for it 100%. Make a commitment and write it down on a card. You just need one short phrase you can carry in your wallet. Or keep it in your car, by your bed and on your bathroom mirror too for an extra dose of positive reinforcement.

      Your commitment card will say something like:

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      • I enjoy a clean, smoke-free life.
      • I stay calm and in control even under times of stress.
      • I’m committed to learning how to run my own business.
      • I meditate daily.

      6. Accept Failure

      If you do fail and sneak a cigarette, miss a walk or shout at the kids one morning don’t hate yourself for it. Make a note of the triggers that caused this set back and vow to learn a lesson from them.

      If you know that alcohol makes you crave cigarettes and oversleep the next day cut back on it. If you know the morning rush before school makes you shout then get up earlier or prepare things the night before to make it easier on you.

      Perseverance is the key to success. Try again, keep trying and you will succeed.

      7. Plan Rewards

      Small rewards are great encouragement to keep you going during the hardest first days. After that you can probably reward yourself once a week with a magazine, a long-distance call to a supportive friend, a siesta, a trip to the movies or whatever makes you tick.

      Later you can change the rewards to monthly and then at the end of the year you can pick an anniversary reward. Something that you’ll look forward to. You deserve it and you’ll have earned it.

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      Whatever your plans and goals are for this year, I’d do wish you luck with them but remember, it’s your life and you make your own luck.

      Decide what you want to do this year, plan how to get it and go for it. I’ll definitely be cheering you on.

      Are you planning to make a New Year’s resolution? What is it and is it something you’ve tried to do before or something new? Why not pick one from this list: 50 New Year’s Resolution Ideas And How To Achieve Each Of Them

      Featured photo credit: Ian Schneider via unsplash.com

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