Posted by Dave Lorenzo - Business Coach

Decker Marketing has 15 Ideas to Create a Great Conference. Here are my favorite:

Send a Countdown to Hotel Sell Out — Every conference has a preferred hotel with reserved room. Most attendees are procrastinators on booking the hotel. With a regular email tell them how many rooms are left.

Separate Content and Exhibitor Fees — Should exhibitors be able to pay their way to speak? Would this create great content? Good magazines separate editorial from advertising. Conferences should do the same. If part of a conference’s product are great speakers and topics, the event organizer should find the best speakers and topics…period. At online online retail conference, for example, you can pay to speak (and it costs a lot). Even if I had more budget than I knew what to do with, I wouldn’t want to be associated sponsored speaking because as an attendee (and I am both), I wouldn’t want to listen to sponsored speakers. I think the topics aren’t as interesting and the content suffers. Anyone paying to speak will be more likely to ’sell’ in an effort to recoup that investment.

Create Roundtables — Shop.org has a popular section of their conference where brand leaders, sometimes with their agencies and vendors, present topical case studies. Roundtables are popular because they are targeted, small enough to allow Q&A and discussion, and they are great for networking. It’s also a great way to find out what topics are most popular! One roundtable on organization issues had to put two roundtables together to meet the demand.

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Posted by Dave Lorenzo - Business Coach

A client of mine, Vincent, recently started his own business. He hired a Web designer, who sent him a long list of questions about his vision and goals for the site. One section of the questions required that Vincent investigate the Web sites of other small businesses in his field and comment on their look, feel, and interface. In doing this, Vincent gathered a lot of information about the competition and reinforced for himself what he wants to make sure to do and avoid doing in his own work. Whether or not you need your own Web site designed, this is a great exercise you can use to improve your business.

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Posted by Dave Lorenzo - Business Coach

“Seen as the pillar of capitalism in that it may stimulate innovation, encourage efficiency, or drive down prices, competition is touted as the foundation upon which capitalism is justified. According to microeconomic theory, no system of resource allocation is more efficient than pure competition. Competition, according to the theory, causes commercial firms to develop new products, services, and technologies.”

No matter your skills, size, experience, or field, you can find some advantage over your competition. Additionally, you can innovate and adapt your business to overtake your competitors in key areas. Don’t let a company’s size threaten you. Oftentimes, exactly the edge that a small business has over a large one is its manageable size and ability to react quickly. Think of other players in your field as friendly competition. Become allies with them, if possible. Keep in mind that their presence will keep you on your toes and inspire the evolution of your business and career.

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Posted by Dave Lorenzo - Business Coach

The competition need not be feared. After all, if you’re in the same line of work, you have a lot in common and can learn from each other. They’re not going anywhere, so you may as well make the best of them. I asked the panel of professionals:

In your career, who is your competition? What have you learned from them?

Other PR and design agencies, as well as companies bringing in their own designers to work internally. I have learned so much from them—both what and what not to do. I often try to form partnerships with people so I can learn more. (Jill, Marketing/PR Creative Director)

If you can’t beat ’em, join ’em, they say. You’re going to benefit much more from having talented competitors on your side than standing in opposition to them.

Young adults with time on their hands to experiment with new technologies to leverage existing paradigms. I can’t do it all by myself. I can’t learn everything I want to or develop all my ideas by myself. However, with my situation I often collaborate with colleagues or hire contractors to fill in my inadequacies. (Will, Web Designer/Database Administrator)

I commend Will for his realizations. No one can do it all, and we can all learn from what our colleagues and competitors are doing. Don’t discount the possibility that developing relationships with your competitors might actually result in leads and new business for you. It happens all the time.

I suppose the other nurses are my competition, but it doesn’t feel like that. The biggest thing I have learned from the competition is what not to do. (Jane, Nurse)

One of the most important things you can observe in competitors and colleagues is their mistakes, and the ways in which they fall short of customers needs and expectations. Even major corporations have weak spots, and you can take advantage of opportunities to fill those gaps.

I think my competition is my boss, unfortunately. She loves to micromanage me, which I can’t stand, and she’s been very clear that she doesn’t want me going any further than I already have. (Lynn, Operations Management Supervisor)

This is a red flag situation. If Lynn is not able to talk to her boss about advancement, I would recommend she speak to someone else at her company, or considering moving on to a place that will allow her to develop in her career. If you feel held back in your current position, you really need to assess why that is and what you can do about it.

Two other people who were hired at the same time and trained with me. I make every effort to go above and beyond what is asked of me. It sounds cheesy, but people know my name already. (Marianne, Forensics Researcher)

Marianne has only been with her new employer for a few weeks, so it is certainly noteworthy that people know her name. Invest the time and energy in making a great impression right from the start. Let your new colleagues know that you’re there to get the job done and contribute your own unique value.

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Posted by Dave Lorenzo - Business Coach

Who are the most successful individuals in your company or field? Take note of what they do, how they behave, why people like them, and what people say about them. An awareness of the strengths of the competition informs you of potential areas of improvement for yourself. Maybe the new guy in your department is already on friendly terms with the managers, and you wonder how he does it. Most likely he is friendly, makes conversation, and puts forth the effort to get to know the people around him. There’s no big trick to being well liked—just be positive, friendly, inquisitive, and excited about what you do. Don’t waste your energy feeling bad about areas in which your peers excel. Take a hint from their successes, and use it to make your own progress.

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Posted by Dave Lorenzo - Business Coach

No matter how big or small, general or specialized, traditional or groundbreaking your business, your circumstances afford you unique advantages. This Business Week article presents ideas on differentiating your independent business from the megacorporations.

“‘The number one way small businesses can compete with chains is by nurturing the relationships they have with the customer,’ says Joe Erickson, editor of RestaurantOwner.com, an online resource and networking tool for independent restaurateurs. ‘Collect their names, birthdays, anniversaries, and their specific likes, and use that [information] to start a direct mail campaign.’”

The greatest advantage small businesses have over the big guys is the personal touch. A community presence and long-standing relationships with loyal clients gives these businesses an edge over companies with locations all over the country. You can find a Starbucks in every American city, but your favorite local bakery with the sweet old man who remembers your name is unique in all the world.

Think about what makes you or your business one-of-a-kind. The fact is there is no one in the world with your specific blend of experiences, insights, and ideas. Superachievers know this, and they believe fiercely in what makes them singular in all the world.

If you’re having trouble pinning down just what’s so special about you, another way to figure it out is to listen to people’s complaints. What does your supervisor want in the workplace but never get? What kind of grievances do you hear from clients routinely? You have the power to get to the root of those problems and solve them. In so doing lies the key to building personal equity and earning lasting trust and opportunity.

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