Tuesday, June 27, 2017

Lessons We Can Learn From Great Business Minds of Yesteryear

Business leaders of yesteryear can teach us lessons even today. Cornelius Vanderbilt, who dominated shipping and railroads, John Pierpont "J.P." Morgan, who built a financial empire on investments and banking, Mary Kay Ash, who founded the exceptionally successful company Mary Kay Cosmetics, and John D. Rockefeller, who founded Standard Oil as was America's very first billionaire are all worthy of admiration and have lessons they can teach us. Today, though, let's look at one businessman, in particular, Henry Ford.



Who Was Henry Ford And How Did He Make An Impact in The Country?



Henry Ford, born in 1863, was a U.S. Industrialist who revolutionized automobile production, which allowed his company to mass produce cars, thus bringing the price down. This, in turn, allowed more regular folks to purchase cars and led to Ford Motors becoming hugely successful. In essence, Ford did more than creating a successful company; he revolutionized the entire transportation industry. Before his changes were implemented, most people were unable to afford such a luxury. Therefore, he took a product that was not widespread and made it applicable for the average consumer, thus changing the entire landscape of the country in several ways. Ford was able to achieve this success thanks to a few methods he applied within his business. These ideas are applicable to any type of business and can teach us as business professionals and entrepreneurs lessons on success even today:



  • Innovation is Everything: When it comes to innovation, Henry most certainly knew what he was doing. He utilized an assembly line technique that forever altered the way automobiles were produced. It's worth noting that he was not the inventor of said assembly line. He only created an innovative way to implement the technique within his business. This is a great lesson we can learn from him today. You don't have to come up with the idea or product in order to figure out a new way to utilize it.

  • Don't be Afraid to Specialize And Offer Solutions to Undiscovered Problems: Henry Ford understood his market and specialized in it. He understood that it's hard to find success when remaining too generic. He also understood his customer base better than they understood themselves. He was able to offer a product as a solution to a problem that his customer base didn't even realize they had. He once stated, "If I had simply asked people what they wanted, they would have asked me for faster horses."

  • Efficiency is Vital: Ford was such a believer in efficiency that he is credited with the creation of "Fordism." This term basically describes a system of mass production that is both standardized and efficient. He understood the importance of keeping his workers productive and achieving a maximum output. He was able to do this, in part, by providing incentives. These incentives, which included a reduced workweek and better wages, resulted in worker loyalty and efficiency.

  • Don't be Afraid to Learn Something New: Henry Ford once said, "Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young." Henry Ford was personally committed to learning. He was never content to learn all he could about a subject and just stay there. He didn't want to just "be," he wanted to grow. This is likely how he was able to come up with such innovative ideas because he never got stuck thinking or acting a certain way. Instead, Ford was always up for a new challenge. We would do well to emulate this in our own professional lives.

There are countless other lessons we can glean from Henry Ford and other businessmen and women like him who revolutionized their industries and achieved amazing success. The important point to remember is that they all stepped out, took a risk, and believed in their goals. That is the foundation for any great success.


Tuesday, June 20, 2017

Personalization Matters: Why Going the Extra Mile is Always Worth It

When people talk about the decline of "mom and pop" businesses in favor of the giant, national retailers, one of the things they bring up is that it's hard to find a store that you can walk into these days where the person behind the counter actually takes the time to learn your name. You can't walk into a national brand and expect someone to go "Hey, Phil - how did that new garden hose you bought last week work out for you? I've been thinking about you, and I thought you might like this other new product, too."



But the fact of the matter is that these days are not over - not by a long shot and especially not in the world of marketing. You absolutely can inject this much more intimate, fulfilling level of personalization into your marketing collateral - provided that you're willing to go the extra mile.



Personalization in Marketing: By the Numbers



If you ever wanted a clear cut example of why "going the extra mile" is an investment that pays off in more ways than one, look no further than the following statistics:



  • According to a recent study from Digital Trends, an incredible seventy-three percent of consumers prefer to do business with brands that use personal information to help create more enriching, more relevant shopping experiences.

  • According to a completely separate study from Infosys, eighty-six percent of consumers said that the level of personalization (or the lack thereof) absolutely plays a role in their purchasing decisions.

  • If you think that personalization is only a game for digital and internet-centric businesses, think again: direct mail success rates are continuing to trend upwards because, you guessed it, people find actual mail that they can hold in their hand much more personal and rewarding than something that is easily ignored like an email.

It's About "Walking the Walk"



The major benefits of personalization in marketing extend far beyond just statistics like these, however. It all comes back to the values that your brand represents and the promise that you're making to each and every one of your customers. Simply put, it's one thing to say that you care about all of your customers - it's another thing entirely to do the types of things that turn this from catchphrase into irrefutable fact.



Put yourself in their shoes. If you get two pieces of marketing collateral in the mail - one of which is addressed "Dear Sir or Madame" and another that has your name and maybe even specific information about past purchases that you've made - which one are you going to put more faith in? Which one would you bet cares about you more? Which one would you believe has a vested interest in making your life better?



Your customers have made their opinion loud and clear - they don't just want you to sell to them. It isn't just enough to have a product or service that is objectively better than anyone else's. They want to be a part of something larger than a single purchase. They want something that they're not going to get anywhere else - a true relationship with the people they give their hard-earned money to. Personalization and going the extra mile are just among the many, many ways that you can now do that in the modern era.


Wednesday, June 14, 2017

The Importance of Appreciation For Morale

As a hard worker, you want to be appreciated. This is simply human nature. We all want to feel our hard work is noticed and appreciated. After all, it only seems fair to be at least appreciated for giving your blood, sweat, and tears to make a profit for your employer. As an employer, you need to understand the importance appreciation has when it comes to the morale of your workplace. Appreciation is a huge aspect of a healthy, thriving workplace environment.



The Data Proves The Importance of Appreciation



A Chicago Tribune survey asked 30,000 employees who enjoyed their job why they loved their work. The most common reason cited by these employees was, "I feel genuinely appreciated at this company." This data shows what we have been talking about, showing appreciation matters. Making people feel like their efforts at work make a difference is important. The next step is learning how to communicate genuine appreciation without it coming across as fake.



What Appreciation is Not



Just because your goal is to show your employees the appreciation they deserve doesn't mean you will automatically know how to go about this. There are a few clear ways not to go about showing appreciation, though. For example, don't just depend on your employee recognition program to do the job. Appreciation at Work found that around thirty to thirty-five percent of employees don't want to go up in front of a large group and accept an appreciation award anyway. Therefore, even though an event created to show appreciation is well intentioned, it can backfire and create an adverse outcome. Often, even if a person doesn't mind going up in front and receiving such an award, the certificate or gift they receive feels impersonal. Generic, group-based awards don't feel genuine in many cases, so employees don't find this as motivating as true appreciation. Besides, saying one positive thing about an employee in front of a group hardly makes up for an entire year ignoring all the extra work an employee is doing.



What Authentic Appreciation Looks Like



Of course, money always talks, so giving out bonuses, gift cards, or other monetary rewards is an excellent way to show appreciation. However, don't be fooled into thinking that your employees only want to receive financial rewards. They also want to hear how appreciated they are on a regular basis. Keep in mind that appreciation doesn't have to be something you say, it can be something you don't say. For example, if your employee works extra hours all the time and they have to take off to handle a personal situation, don't give them a hard time because they are out of the office for one day. This only makes them resent being at work and in turn, makes them a less productive employee who will eventually start looking for work elsewhere.



Remember, don't act like your reward for their hard work or their paycheck is a gift. You aren't giving them a gift. You are simply paying them what they are owed. Look at bonuses the same way. It might seem like "extra" to you, but to your employee, they feel they have worked hard to "earn" that money by working extra hours or taking on additional responsibilities.



Creating a workplace that shows appreciation is necessary to keep employees happy and loyal. The saying, "an employee who feels appreciated will always do more than is expected" says it all. Although your employees are getting paid for services rendered, they are people who want to feel like their efforts matter to the company. This is a crucial piece towards creating healthy morale in the workplace.


Tuesday, June 6, 2017

Veterans Use the Internet to Expand Skill Set and Boost Income

As a war veteran, Shane Thomason knows firsthand what it feels like to experience victory in battle. After being home for nearly ten years from the Iraqi War, Thomason now spends his time giving back to the community and expanding his occupational skill set via the internet. Owning more than 250 websites, including RandomVeteran.com, Thomason enjoys working from home and has found much success in being able to sell unique t-shirts and other novelty items online.

Thomason isn't the only veteran taking advantage of the internet to boost his annual income. There are veterans located all across the globe who sell items and services online as a way to supplement their earnings, and for many of them, they simply do this for the same reason Thomason does -- to pass the time and keep their minds occupied.

A former civil engineer for the US Navy, Zachary Scheel, says, "Veterans are comfortable operating in high-pressure environments that are changing rapidly, where they're constantly forced to make decisions with incomplete information." And while many common internet users may not think of the online world as being high-pressure, Thomason is sure to tell you different. From selling websites at exactly the right moment to creating content on a consistent basis, operating businesses and sites online is a full-time job that requires much attention, and more so, much intelligence.

There are many skills learned through the military and overseas that can be used in business. Six of the most valuable skills veterans can carry over from the battlefield are integrity, dependability, sharp decision-making, the initiative to go above and beyond, tenacity, and adaptability. The capability to take advantage of technology is also another skill that veterans are familiar with, making them all the more apt to find success. Whether it be learning new software or performing website coding, veterans often have a knack for training themselves.

Thomason wrote articles for his local newspaper, the Grayson County News Gazette, while serving in Iraq, which greatly improved his ability to write and has translated into an exceptional skill for being able to create web content, including home pages and product descriptions, which he uses to sell t-shirts and other items on RandomVeteran.com.

One of Thomason's most valuable pieces of advice to other veterans who are considering using their skills for work is not to become a recluse. Thomason says, "helping the community by being actively involved is the primary way I am able to sustain peace in my life. Sure, working from home is great, but getting out in the community and working with the children and other veterans is what keeps me moving forward from one day to the next." Thomason is the Commander of American Legion Post 81 and spends a great deal of time giving back to his community when he is not working.

Generating business is simple when veterans take advantage of the existing skill set that they acquired while serving in the military. Veterans can also find an abundance of resources available to them. From online training courses to website builders, many of these resources are available free of charge because they have served in the military.

The Long-Term Benefits of Making Leisure Time a Priority

Listening to the waves as they cascade against the sand, feeling the warm breeze against your face, understanding that all is right with the world, at least for that moment, that is what vacation is for most people. Perhaps you would trade the ocean waves for the sound of an eagle soaring through resplendent mountaintops covered in evergreens or snowcaps. The idea, though, is that you are away from your everyday world. You stop clocking in. You aren't dealing with the stress that encompasses so much of your everyday existence. You are on vacation.



What do you think about this vacation time? Is it well deserved for your hard labor? Is it perhaps frivolous? Do you wonder if you will ever get to realize this dream, this break from your life? Well, read on to learn why vacation is not only an excellent way to rejuvenate your body; it has also been proven to be something you shouldn't put off:



You Can't Possibly Get More Done After a Break: Or Can You?



In essence, yes, you are more apt to be productive when you take the time to rejuvenate your body, soul, and mind. A report by the New York Times showed that your body "needs" the break vacation provides. There is even evidence that you become more productive once you get back from your vacation than you would have had you simply skipped your break. The Times reported the following about this aspect of the study findings:



"The importance of restoration is rooted in our physiology. Human beings aren't designed to expend energy continuously. Rather, we're meant to pulse between spending and recovering energy."



Other Benefits Besides Increased Productivity



In addition to being more productive and focused when you return from vacation, there is also evidence that you will garner a whole new perspective on things once you get a break. A CNN report stated that workers who took a break from their jobs enjoyed a new perspective on their lives when they were away from the stresses and problems of their daily existence. Family relationships are also strengthened when vacation is made a priority as family members are able to spend large amounts of non-distracted time together when away from their regular responsibilities.



Do Americans Get it Right?



In most cases, Americans don't get vacation right at all. In fact, other countries handle this issue much better. The average French worker, for instance, takes more than twice the vacation time of an American worker. Americans typically use only sixteen of their eighteen vacation days according to a 2010 study. An Assessment of Paid Time Off in the U.S. report revealed an average of 3.2 paid days off left unused by workers, amounting to around 429 million unused vacation days.



Why It's so Difficult For Americans to Relax



There are many studies just like the ones listed above that show vacation as a way to improve employee morale, increase productivity, and create a healthier working class, so why don't Americans make vacation a priority? Most of those who were asked simply said they felt they had too much work to do to take time off. Do we as American workers really feel that our European counterparts aren't also busy? No. Instead, we feel the world will fall apart if we don't keep it spinning. Workers in other countries simply don't have this belief. Therefore, if we as Americans want to make our lives better overall, we have to begin to understand that we don't personally keep the world in orbit. We can leave for a few days here and there, or a week once in a while. Our country, workplaces, and families will not only survive, but they'll be the better for it.