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Free Samples Can Boost Sales

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I recently visited San Francisco and was astounded by the American retail culture.  It was simply amazing how vendors were so open in letting you taste and experience their products, allowing you to seriously consider and try before purchasing.

 

boudin bakery

 

For example, the Boudin Bakery in Fisherman’s Wharf allowed you to try some of their breads, including their famous sourdough loaf, after you toured their food museum (which cost US$3).

 

see's chocs

 

If you stepped into most See’s candy stores, retail staff will cheerfully offer you samples of chocolate to try (above)!

Even at the San Francisco Ferry Building farmer’s market, every stall was cheerfully handing out samples.

 

apple samples

 

A fruit vendor carefully lays out a variety of beautifully-cubed apples for passers-by to try.

 

nuts about nuts

 

Here a nice lady hands out nuts for people to try.  After sampling their cajun-spiced almonds and butter-toffee coated almonds, I succumbed to temptation and bought a few packets.

 

oil and bread

 

A vendor selling naturally pressed olive oil products lays out bread cubes so you can try out their flavoured oils.  Judging by the number of people who were buying bottles of the stuff, it must have been a successful tactic.

 

 

ice cream sample

 

A man in an ice-cream parlour at The Cannery (Del Monte‘s first canning plant, now refurbished into a shopping destination) handed us a sample of their home-made ice cream. Yum!  And yes, I dutifully succumbed to my sweet tooth.

Perhaps the following sign sums up the “go-ahead-and-try” attitude the best:

 

sampling sign

 

If you can’t read it, it says “Sampling is mandatory! We’re watching!”.  How precious.

“Sampling is expensive and not practical, especially in a culture where people are cheap,” I hear you say.  I think it may be even more expensive in the long run if you don’t try.

If you run a retail store and have products that are suitable for this tactic (or even if you run just a tiny push-cart business), seriously consider using samples to entice and convert interested passers-by into actual customers.

Uncommon Wisdom On A Ketchup Bottle

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heinz quote

 

Spotted on a Heinz ketchup bottle: Henry John Heinz, who founded Heinz in 1876, said:

“To do a common thing, uncommonly well, brings success.”

I think it’s an important lesson for entrepreneurs.

Cheapening Your Brand – Or Is It?

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cheap wine

 

Spotted in a deli cum general goods store in Sausalito, San Francisco: wine branded and labelled “Cheap White Wine” and “Cheap Red Wine”.

In a market known for snootiness and snobbery, a wine producer has decided to take a totally surprising tack to differentiate himself from his competitors.  Sure it’s risky. Hell, it can be damaging to the company’s brand.

But it’s definitely innovative. And it may just carve a totally different market segment for itself.

Would you dare do something as risky as this?

When Film Imitates Life

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terence koh

 

Royston Tan may be the more familiar name in the local film-making scene, but Terence Koh also has similar film-making dreams. Having wanted to be a filmmaker all his life, he took some time off work just to realise his ambitions.  Today the founder of Delicious Films is finally on the verge of producing his first movie, “25 To Life”.

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Can the Singapore Education System Produce Entrepreneurs?

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Singapore’s Minister for Defence Teo Chee Hean (and ex-Minister for Education) made a speech at the recent Entrepreneur of the Year Awards held on 11 October, excerpted here by The Straits Times in an article entitled “Will more varsity grads mean fewer entrepreneurs”.

Here’s a comment he made that is food for thought:

“Our graduates, whether from our ITE, polytechnics or universities, must not only have the foundation and the factual knowledge that our education system is so good at equipping them with. They must also have the customer education, creativity and innovation, flexibility, and risk-taking mindset that will require to succeed in the new world. Whether they are running their own businesses as entrepreneurs, working in a corporation, or in the public sector, they must have this entrepreneurial mindset.”

Well said, Minister, except it seems like a major admission that the local education system is weak in creating entrepreneurs.  Perhaps we are better at creating cogs to fit into the vast machinery that is the Singapore system, as opposed to hungry entrepreneurs willing to think out of the box.

When Professional Becomes Personal

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It’s true and I found it out the hard way – that Singaporeans don’t take kindly to criticism, however well-intended.

One of my colleagues, who comes to me constantly for “advice” – a.k.a expecting me to make his decisions for him – asked me how he could approach certain areas of his work.  However, after sharing some constructive professional advice, he took personal affront over what I said.  He felt that it was a personal attack and that I was putting him down.

Hello?

YOU asked me for advice.  I didn’t offer it unsolicited.  If you can’t deal with the truth, DON’T ASK.

Unfortunately, it seems that many organisations – MNCs, small SMEs or even governments – are built similarly.  They go about asking for “feedback” and when they hear things they’d rather not hear, they react like petulant children.  They throw tantrums and slap those who offered them the advice they asked for in the first place. 

I’d name names if I could, but I prefer not to get my pants sued off.  After all petulant people – and organisations – do silly things.

Just like my colleague, who hasn’t spoken to me since. Which is just as well.

Entrepreneurs Behaving Badly

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Local entrepreneurs have been getting into the news recently for all the wrong reasons.

Over the weekend we read with fascination how entrepreneur Looi San Cheng, owner of Tip Top Curry Puff, was jailed two weeks for tax evasion. 

Tip Top Curry Puff, which started operating in the corner of a grimy Ang Mo Kio coffeeshop since 1979, has been so successful it expanded its business to China under his son’s guidance. Such success even led it to being lauded by Prime Minister Lee Hsien Loong last year for entrepreneurial spirit.

And then came the charges of tax evasion.  The authorities found that Looi had been under-declaring his takings for years, despite consistently making more than $100,000 in annual profit for the past six years.  During one year, Looi even claimed that he made a loss!

In another recent case, the founder and chairman of listed technology firm Stratech Systems Dr. David Chew was hauled to court for kicking a 61 year-old locksmith in the groin.  Ouch. 

A well-known local businessman (he was The Rotary-Asme Entrepreneur of the Year in 1999), Chew allegedly attacked the locksmith when the latter picked the lock of the gate of Chew’s Belmont Road home (at the orders of his wife).

Tsk tsk.

How about some good news for a change?

Has any local entrepreneur made a contribution to society lately?  Supported a cause, or donated to charity?

Let me know.

Misguided Selling Can Affect Reputation

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What happens when your sales person overpromises to a customer, and you find that you are unable to deliver?

I have a situation in which a sales person oversells the qualities of a product while refusing to explain clearly the terms and conditions binding to customers.  His reason is that “if we tell the customer everything, they won’t buy” (and he loses his commission). So he’d rather oversell.

Which leads to customers getting angry and terminating their relationship with us, when they finally read the fine print.

“My job is to sell right?  I’ll let the customer service people deal with it.”

Such thinking is shortsighted. 

The sales person doesn’t realise, or care about, the mess he creates in the company’s back end. The fact that – in many companies – sales people are often isolated from logistics, operational and customer service colleagues, only compounds the problem.

It’s a bigger problem than just losing sales.  It’s also a credibility and trust issue.

Telling the truth may lose you that sale.  But not telling the truth loses you much, much more.

Making Music His Life

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gilbert

 

Producer and songwriter Gilbert Ong has high hopes for Singapore’s music industry.  The founder of Rhythmiz Music Production believes that given the right platform, locally-produced music can make it big in the world.

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You Don’t Have To Do It Alone

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I was recently contacted by an entrepreneur – let’s call him John – who was seeking some marketing advice for his new technological startup.  Having little idea of how he can market his innovative video imaging products, John sourced my contact in a local entrepreneurial forum and – knowing that I used to work in a consumer electronics company – approached me for advice.

We met up and John admitted that he had no marketing knowledge and so needed to get as much advice as he could from others. I shared whatever limited knowledge I had with him. When I mentioned someone in the forum who may be able to help him in the area of customer service, John replied that he had already also approached the person and gotten some advice.

To me, John represents the rare entrepreneur who readily recognises his own deficiencies and in so doing, realises that his best chance for success is to approach for help.  Most entrepreneurs I know – in fear or ego – wouldn’t consider doing what John did.  And then sometimes their great ideas FAIL for the LACK OF KNOWLEDGE.

The moral of the story is:

You don’t have to do it alone.  Look around, and ask around.  You’ll never know who can help your business reach another level.

PS: I can’t reveal who John is as yet. He’s still holding on to a full-time job for the moment as his business incubates. But I do wish him all the best and will interview him for this blog when he’s ready. ^^

Small Business But Mighty In Service

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small & queen

 

Usually I rant and rave about poor customer service (such as the one against a particular local bank), but I’d like to share about extraordinary service and savvy marketing when I come across it.

I recently wrote about pushcart businesses. Small&Queen is a pushcart business located on the 2nd floor of Suntec City between Towers 3 & 4, very near giant hypermart Carrefour. It peddles a variety of fashionwear and accessories targeted at women, especailly a range of self-designed ladies’ handbags.  It was this range of handbags that caught my fiancee’s eye, who was on a hunt for a suitable birthday present for her mum.

The two lady operators stood by politely and smiled (i.e. they didn’t harrass us) as even we fingered and rifled through their goods. We were torn between two different designs and just about settled on one when they – whom I’m pretty sure are the owners – complicated things further by politely mentioning that both designs came in two colours each.  They patiently unwrapped these bags – which were kept in storage – and showed them to us. They asked if it was for my fiancee or a gift for someone else, and to cut a long story short both ladies helped us make a smart and informed purchase and made us felt special.

Icing on the cake – they had a gift wrapping service!

Some points I picked out:

1. They had an intimate knowledge of their products, and the type of customers their products appealed to.

2. A gift wrapping service provided convenience, which showed that they had their customer in mind. We didn’t even mind paying for the added service.

3. Politeness and helpfulness (not the kind of eagerness that oozes from overzealous salesmen hungry for a sale) goes a long way.

4. They were well-located outside the restrooms (like I recommended previously), which we spotted after our toilet break.

As Small&Queen has shown, you don’t need to go to be a 5-star hotel to provide great service.  Many bigger businesses should take note and learn.

Ms Elsie Koh and Ms Toh Chin Chin, it was a pleasure being served by you.

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link

The credit card is becoming need of every one. Now, any one can apply for a credit card and get it with in few hours. There are different types of credit cards available in which business credit cards are common in business people because of its many unique services. Also, the credit card fee for this is very nominal on heavy transactions. Now, bank of america card is also very much common especially for individual consumers and it is also very common in small businessmen. The amex is another company which is also providing different types of credit cards, in which bad credit credit cards are very common for those persons who are near to bankrupt.

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Â

Despise Not The Humble

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mr bean

 

 

Local soybean products seller Mr Bean is in the running to become Singapore’s Entrepreneur of the Year 2007.  Its co founders Mr Kang Puay Seng and Mr Loh Jwee Poh has transformed the business from a single humble outlet in People’s Park Centre in 1995 to its current island-wide chain of 34 outlets around Singapore.

Think about this a little closely. The soybean is very humble product, a dietary staple in Chinese cuisine since time memorial.  It is now recognised as a great source of protein and has since become a permanent fixture in vegetarian diets.

So what makes Mr Bean a success? The soy bean is not new. Neither is it particularly sexy.

Ya Kun Kaya Toast made traditional local breakfast staples hip with people of all ages. Mr Bean does the same with soya bean pancakes and soya bean milk.

Despise not the humble.  Are there other similarly humble, yet overlooked, products out there that you can build your business around?

Helping You Do It Better

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andro cream

 

I chuckled at the latest TV ad promoting… ahem… sexual performance cream Andro (for men), manufactured by local Singapore startup Lynk Biotechnologies.  It’s nice to know that local firms can give you… an additional edge to perform better.

The ad features local funnyman Gregory Teo, who starred in various Mediacorp comedies such as Happy Belly.

[edit]: I just found out that the ad went through close scrutiny from the Health Sciences Authority of Singapore, which may have prevented the ad from being even better.

Something’s Cooking…

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I apologise in the lack of recent posts, but I’ve been extremely busy with a new project… yes something’s on the boil and all will be revealed soon…

Stay tuned to find out!

 

What’s the Story, Morning Glory?

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I attended the official opening of the Singapore International Storytelling Festival organised by the Book Development Council of Singapore last Friday, and came away with a revelation.

The thing which struck me was a comment made by Dr. Vivian Balakrishnan, Minister for Community Development, Youth and Sports, who said that (I’m paraphrasing here) by-and-large “the young has lost the art of storytelling”.  He further explained that while the youth of today has many more avenues for communication – online forums, blogs and what-not – much of the content is vitriolic and even banal.  Very few of them know how to harness the power of a story to communicate, convince and convert their audiences. Sadly enough, I agree with Dr. Balakrishnan.

However, what saddens me more is that this problem is not only limited to our youth.  Many local businesses also do not know how to connect to their audiences by telling a story. They do not realise that it is no longer enough to think that “if you build it, they will come”.

You need to connect with your customers emotionally, and you can do that via a story.

For example, I think that one of the better local “storytellers” in Singapore today is Ya Kun Kaya Toast.  Despite a low-end product (they are, after all, only selling coffee, eggs, and toast with a coconut-egg jam!), Ya Kun’s strategy of sharing its founder’s simple, humble heritage has clearly worked. Today there are around 25 Ya Kun outlets in Singapore, as well as many more in Indonesia, Malaysia and even Korea and Japan!  You can read Ya Kun’s story here.

If you’d like to know how you can put together a brand story, consider attending one of the Singapore International Storytelling Festival’s seminars, Developing Marketing and Brand Messages through Stories. Conducted by Evelyn Clark, author of Around The Corporate Campfire: “How Great Leaders Use Stories To Inspire Success”,
it will help you fuse your corporate communications plan and developing a creative platform to share your story to key audiences.

You can find out more about the seminar here.

Pushcart Entrepreneurship

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pushcart

(pushcart stall outside National Library for rental)

Pushcarts – selling all manner of products – are now a common sight in Singapore. These OMOs (one-man operations) can be found almost everywhere, including in crowded outdoor areas and within even more crowded shopping centres!

An acquaintance recently asked me what I thought about pushcart businesses, as she was considering starting one. I’ve summarised the essence of our discussion as follows:

1. Selling the Right Products

Having the right products make or break your pushcart business. Consider the following points:

– Targeting the right market. Remember that the passing crowd in Raffles City Shopping Centre is very different from the one in Hougang Mall, so pick the right product for the right place. We hear that the pushcarts ones selling jewellery in Raffles City Shopping Centre does a roaring trade, considering the largely female, executive crowd in that area. On the other hand, a $5 bra-and-panty set would probably sell better in the latter than the former.

– Product positioning. I’ve seen some sell accounting software, insurance and investment tools from pushcarts. Riiiight… what were they thinking? When I buy such products, I want to get it from a credible source I trust and not from a pushcart vendor. I’d imagine that their business would’ve been poor.

– Does it require me to try? Sell products whose function and aesthetics are immediately evident. Clothes don’t sell particularly well from pushcarts because there is no way for them to try for size and cut.

– Limited display and storage space. This means that large bulky items are out of the question. 4 large feathery cushions and you’re pretty much outta space. So go for small items, where you can display a larger variety that appeals to a larger audience.

2. Pricing – Not Too High, Not Too Low

Do you really think many people would buy a really expensive product – a Gucci handbag (authentic ones, at least) – from a pushcart? The idea is to encourage impulse buying – don’t make them stop to really think about the cost of their impending purchase. That is the reason why one of the best-selling products is handmade jewellery priced below $10. Most women don’t blink over paying $10 for a pretty brooch or cute bracelet.

Price your goods such that it makes it easy for people to pay. $9.99 may make your product look cheaper (as opposed to $10.00), but don’t make them fiddle for coins or notes. Go for $1, $2, $5 or $10 permutations. They are likely to be in a hurry, and you don’t want to wrestle with loose change either.

3. Location, Location, Location

Many pushcart vendors think that the best places are those with the heaviest traffic flow. Wrong. Heavy traffic means that people are usually in a hurry and are simply rushing (or worse, pushed along) to their destinations. I’d pick cul-de-sacs and corners, spots where the terrain helps keep people near your pushcart for those critical few seconds so that your products catch their eye.

Similarly, one of the best places would be just outside the restrooms! You may be squeamish, but think of how you can capitalise on the fact that there’s going to be a long queue for the ladies’ restrooms. Their gal friends, husbands and boyfriends are hanging outside waiting – right next to your pushcart. It’s a near captive audience. $$.

4. Pushcart, Pull Strategy

Passers-by are, well, passing by. They may not be in a shopping mood. You need attract people to your pushcart, yet not appear too pushy (pun fully intended). Clear, attractive signage is mandatory. Make it clear what you’re offering, and at what price. Let your signs do the talking.

Some people believe in hiring SWTs (sweet young things, also known as pretty girls) to attract passers-by. I’m not saying that it doesn’t work, but make sure your products appeal to the audience that will be drawn to your pushcart (horny army boys, sleazy ah-peks etc).

Being too pushy is counter-productive. Remember, since pushcarts are small, personal space can be quite limited. Ask me too many questions, and I’m going to walk away.

Pushcarts are a great way for people to start their journey into business and entrepreneurship. Being an OMO forces you to be heavily involved every aspect of business, from accounting and operations to customer service. Many businesses started from a pushcart stall. Maybe yours can too!

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link

The increased use of mobile phones leads people to get unique ringtones for their cell phones. Many mobile users like music ringtones and they love to download latest ringtones. Now days, mp3 ringtones are also getting popularity in youngsters. But, many ringtone lovers like to make their own ringtones by using any ringtone software which are easily available free of cost.

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Dishes To Make You Happy and Comfortable!

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happy dish

Strange English notwithstanding, the Japanese company that makes these stainless steel dishes do have their focus on the right thing. If you can’t read it from the picture, the statement on the label reads “We will make the valuable customer comfortable and happy”.

Whatever business you’re in – whether you run a restaurant, provide telecommunications services or make stainless steel dishes – making your customer feel valued and happy should be a top consideration.

(For chuckles, try and read it with a Japanese accent.)

 

Not All Product Innovation Should Be A Technological One

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bus floor

bus seats

Can I ask iris why our buses are falling apart? Between peeling floorboards and deteriorating interiors, travelling on some SBS Transit buses is getting increasingly uncomfortable.  And don’t tell me the floorboard popped out overnight.

The newly-introduced ask iris service is a double-edged sword. Knowing when your bus is going to arrive is a nice-to-have (but not a must-have). In fact, knowing that the next bus is some 30 minutes away is just as frustrating as not knowing when it’ll arrive. I applaud the bus service for the effort, but not all product innovation should be a technological one.

My advice to SBS Transit is – fix and renovate your buses first. Put your money where your mouth is.  Your core business is not information technology. Providing your commuters with a comfortable ride from Point A to Point B is.

Learning To Let Go

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My CEO, who is also a director in a venture capital firm, made an interesting comment recently.  He said that the reason why most local SMEs don’t grow is not due to the lack of talent, but the fact that too many local bosses have a “control” mentality.

These bosses, who used to handle most functions when their company was small, can find it difficult to delegate some of these functions to their subordinates as their companies grow.  What usually happens is that they get too stretched, and before long, things fall apart.

Edit: I left the company. Ironically, he’s a control freak himself.

The Smallest Things Can Kill Your Business

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It’s amazing how the smallest, totally unexpected thing can lead to a minor catastrophe like the one we almost experienced today.

Things were humming along just nicely until a sudden power outage.  Everything, including our servers and transmitters, stopped.  Although the emergency power kicked in almost immediately, our operations ceased for that one, critical moment. Thankfully, we managed to get everything up and running just five minutes into the problem.  We later traced the problem to a rice cooker in the pantry, which was connected to the power supply without a circuit breaker.

Do you have a crisis management plan in place?  It’s not just about power.  It’s about assessing all the various environmental factors – large or small – that has the potential to lay your business low.

Imagine, a business that almost halted because of a problematic cooking appliance.

The Cheetah And The Crocodile

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It was my first day at the new workplace yesterday, and my boss invited me to lunch with some other members of the management at a nearby Peranakan place.

Over lunch, there was a very intense discussion about how underdogs like us can challenge far more powerful competitors in the marketplace. A senior colleague likened these incumbents as strong, powerful cheetahs, and asked, “So how do we beat them at their own game?”

My boss answered, “Let the cheetahs run against each other and fight it out.  We just do what we do best.”  It’s true.  There’s no use fighting against those who have deeper pockets and better resilience.

A cheetah uses its incredible speed and power to overcome its victims. Instead of trying to outrun one, why not be a crocodile instead?  A crocodile lies in wait along rivers and streams until its prey approaches the water for a drink, and then pounces on it.  It’s a totally different approach.

My first lesson on the job?  Do what you do best.  Don’t try and do what your stronger competitors are doing and hope to do it better.

An Angel Investor

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I came across this heartwarming story in an entrepreneur forum, and I thought it was worth sharing here.  Enjoy.

*****

The business executive was deep in debt and could see no way out.

Creditors were closing in on him. Suppliers were demanding payment.

He sat on the park bench, head in hands, wondering if anything could save his company from bankruptcy.

Suddenly an old man appeared before him.

“I can see that something is troubling you,” he said.

After listening to the executive’s woes, the old man said, “I believe I can help you.”

He asked the man his name, wrote out a check, and pushed it into his hand saying, “Take this money.  Meet me here exactly one year from today, and you can pay me back at that time.”

Then he turned and disappeared as quickly as he had come.

The business executive saw in his hand a check for $500,000, signed by Henry Ford, then one of the richest men in the world!

“I can erase my money worries in an instant!” he realized.  But instead, the executive decided to put the uncashed check in his safe. Just knowing it was there and might give him the strength to work out a way to save his business, he thought.

With renewed optimism, he negotiated better deals and extended terms of payment. He closed several big sales. Within a few months, he was out of debt and making money once again.

Exactly one year later, he returned to the park with the uncashed check.  At the agreed-upon time, the old man appeared.  But just as the executive was about to hand back the check and share his success story, a nurse came running up and grabbed the old man.

“I’m so glad I caught him!” she cried.  “I hope he hasn’t been bothering you. He always escapes from the rest home and goes around telling people he’s John D. Rockefeller or Henry Ford.”  And she led the old man away by the arm.

The astonished executive just stood there, stunned. All year long he’d been wheeling and dealing, buying and selling, convinced he had half a million dollars behind him.

Suddenly, he realized that it wasn’t the money, real or imagined, that had turned his life around.

It was his newfound self-confidence that gave him the power to achieve anything he went after.

Don’t let life discourage you; everyone who got where he is had to begin from where he was.

 

A High-Flying Business

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Not.  A man fixes an aircon compressor located outside a Marine Parade HDB flat. The technician puts his full weight on the compressor mount, some seven stories above the ground.  One hopes that the rope hanging nearby is part of a safety harness, which may be the only thing that keeps him from a fatal fall.

Aircon maintenance may be a neccessary business, but it can certainly be a dangerous one.  Let’s hope the company has fully reviewed its safety procedures.

Breaking Customer Promises

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renovations

I am not a happy camper.

The kopitiam (coffeeshop) near my place, which I frequent very often, is undergoing renovation. They put up a sign declaring that business would resume on the 10th of July. It’s already the 16th, but the kopitiam still has not reopened for business.  I found out from the contractors that they needed additional time for National Environment Agency (NEA) officers to inspect the place.

The trouble is, for the kopitiam, your customers don’t care what kind of problems you are facing. All they know is that you have broken your customer promise – and failed to deliver.

In another incident I placed a business order of goods that a supplier promised would take 5 weeks, from concept and design to actual shipment, to deliver. It has been more than 2 months, and I was just told I can only receive the goods in another two weeks.

The issue here is trust.  In your anxiety to nail a deal or sale, you may have over-promised customers. If you do, make sure you deliver.  And you can’t give a “we’re cheap what, what do you expect?” kind of excuse – unless you want your reputation to be known as cheap-but-unreliable.

Game for Entrepreneurship?

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exorogame

Local entrepreneur and CEO of Exoro Pte Ltd, Mr. Alvin Sim, has come up with a unique board game that actually encourages entrepreneurship. Just as Rich Dad, Poor Dad Robert Kiyosaki’s Cashflow 101 game teaches the important concept of cash flow, ExoroGame simulates realistic business elements and real-life company scenarios in a strongly interactive yet educational format.

Exoro recently organised Singapore’s first National Youth Entrepreneurship Conference, which challenged some 200 students and entrepreneurs to get a head start in starting and maintaining their own busineses.

Let’s produce more entrepreneurs!

You can find out more on Exoro and ExoroGame here.

11,660 New Millionaires In Singapore

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It’s official. According to this AsiaOne story, the annual Merrill Lynch and Capgemini World Wealth Report has reported that the number of Singapore millionaires has grown by an impressive 21.2 per cent last year, or some 11,660 new millionaires. Singapore saw the fastest growth in high net-worth individuals across the world, and even beat India which saw a 20.5% growth. This brings the total millionaires in our dear island state to some 66,660 – this constitutes around 1.5% of our population, so three out of every 200 people here are millionaries.

Many of them have attained their newly-minted status due to the burgeoning stock market in Singapore, as well as the incredibly heated property market which has seen many people become instant millionaries from the en bloc craze. Some of them are senior management executives with large remuneration packages.

If most of these new millionaires are stock market and property investors or senior C-level executives, my question is: Where are our new small business success stories?

If they’ve somehow disappeared, I think we have some cause for concern.

Can You Outsource Your Company’s Marketing Function?

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I recently applied for a senior marketing position in a small consumer electronics company.  After attending a series of three interviews, I hadn’t heard back from them since.

Today they finally called – five months after the first interview.  After telling me that their general manager was suitably impressed with me, they told me the bad news.  Instead of the original permanent position I had applied for, they offered it in a freelance capacity instead.  They had just restructured and was thinking of using part-time help to market their line of consumer electronics.

Honestly, I don’t know what shocked me more – that their HR took so long to get back, or the fact that a company can ever conceive of outsourcing one of their most critical functions.

I politely turned their offer down.

Upgrading Vs. Sidegrading

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In my opinion there are two types of innovation: upgrades and sidegrades. An upgrade is an innovation which sees a discernible improvement over the previous product or service.  A sidegrade, on the other hand, sees an improvement in one area but has sacrificed functionality or quality in some other area.

While both are considered innovations, the difference may have a significant impact on how marketers market a product and how a market will perceive it. I suspect some marketers either do not know, or choose to ignore, the difference.

For example, a company recently released a “new, improved formula” for its fortified drink.  My question is: the formula may be new, but is it really improved?  By tweaking various ingredients doesn’t necessarily mean that it has improved – in fact consumers have complained that it no longer tastes the way it used to.

Consider these (I’m going on a limb here with these examples):

  • Dual Core processors – upgrade (better performance).
  • 3G phone and networks – upgrade (larger bandwidth and faster data transfer).
  • iPod – upgrade (took an mp3 player and added sex appeal).
  • Diet Coke – sidegrade (less than 1 calorie, but tastes different).
  • Condoms with spermicide – upgrade (provides better protection).
  • Healthier char kway teow cooked with vegetable oil instead of lard – sidegrade (some consider it a downgrade!).

Feel free to correct me on any of the above.

So the next time you innovate on your product and service, consider if it is a true upgrade or only a sidegrade.

PS: Is Windows Vista an upgrade or sidegrade? I’ll let you decide.

Saying No To Your Dream

By
admin
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0

I just turned down an opportunity to join a start-up company.  I know, it sounds like it goes against what I stand for (especially at a time where I’m looking out for opportunities). But hear me out.

I was approached by a couple of acquaintances who have plans to start a lifestyle consultancy, who believed that my PR and marketing experience (not that I’m overflowing with it) would stand the company in good stead.  The business sounds promising – the concept is good, and the owners have the requisite experience to carry the company’s growth for at least the next two years.

So why did I turn them down?

One reason I – painfully – pointed out to them that they really don’t need me at this stage when the company is in its infancy. Some starting entrepreneurs make the mistake of trying to get too many parties on board at the start.  Many heads may be better than one, but too many cooks also spoil the broth. In addition, the business can comfortably support two at the start, but three may have been a stretch.

Another reason was that, for personal reasons, I need job security and steady finances at this point of time.

Thankfully, they fully understood.

I’ll be taking up an advisory role instead.

Public Relations: Going It Alone

By
Daniel Goh
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1

I recently gave some pointers on what small businesses should consider when looking for a public relations agency.

Earlier this week, Guy Kawasaki posted on his blog an interview he had with Margie Zable Fisher of prsite.com on “The Top Ten Reasons Why PR Doesn’t Work“. Responses to the post was fast and furious, and some pointed out that most of Margie’s arguments shifted blame from the agency to the client. One of them, Glenn Kelman, CEO of Redfin, responded with why small businesses should do their own PR.

I know I may be stoned by some fellow PR practitioners for saying this, but I agree with many of Glenn’s 11 pointers. Here’s two of the most important points he got right:

Passion + Expertise = Credibility

You know your business best. Hence, what you say carries weight. There’s simply no way that an agency is able to learn and understand your business inside out.

Journalists are wary of the lack of credibility behind many of the “well-oiled” press releases and statements that appear today. Who would blame them? Many are written by PR hacks, approved by an internal communications manager and never even crossed the desk of the person who made the statement or quote.

So meet directly with the journos and talk with them. They’ll find your approach refreshing.

You don’t have to seem all grown up and boring.

Like Glenn points out, it is important to be yourself. Many agencies follow a standard format of what has worked for their other clients – but that may not suit you or your business. Remember, the media (the good ones, at least) doesn’t follow what is established. They follow what’s new and different, and what’s interesting to their readers.

But one of the main reasons I think why you should do your own PR, which Glenn failed to point out, is this:

You owe it to yourself and your business.

PR is a learning process for any business. It’s crucial for the business owner to understand, and own, the process. By all means get some advice, if you need to know how to start. But remember: if the agency screws up, at most they lose a client.

You have far more to lose.

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