The In-Effectiveness of Meetings

A client of mine, a Chief Marketing Officer at a consumer products company, recently shared an astonishing figure. His month of November was booked with over 120 hours of meetings by October 20th. He flashed me his Outlook calendar for the month and it was filled with bright lines and boxes. This should not be surprising given 11 million formal meetings take place each day in the United States. That is more than four billion a year according to a University of Arizona study.

Weirdly, stupidly, and hopefully not irreversibly, meetings are now synonymous with real work. So many meetings are now held that employees complain they get their work done after business hours and also lie and block their calendars to avoid the mass of invitations.

“Meetings are the most universal — and universally despised — part of business life.” Fast Company Magazine

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Lessons from the Lemonade Stand

The dependable lemonade stand is not only an enduring summer icon but also a slice piece of trade rich with business lessons. This past summer I made a point of stopping at those I spotted. I learned that the exchange of flavored water for a few coins may appear simple but represents aspects critical to business. If you look closely the humble stand provides a mini-MBA covering funding, strategy, production, marketing, customer service and reinvestment. It all starts with thinking about the lemonade stand “industry” which is:

Fiercely competitive with low barriers to entry

Both seasonal and weather dependent

Reliant on a commodity, easily substituted product

Seemingly undifferentiated overall

Unattractive from a revenue and profit perspective

For each of these conditions, one has to tailor the business to succeed. As daunting an industry as it is this has not stopped thousands of young people from starting them up each and every summer. Here are five lessons for your children and your own enterprises.

Delight with a Superior Product

Of course, we will all part with our loose change to help out a tiny entrepreneur. But if the lemonade is tart, weak, overly sweet or thimble size we will force a smile, wish them luck and complain about the product back in our car or as lemonade-stand_5we cycle away. This reaction is no different from any other disappointing purchase. I have gone back to a stand twice if the lemonade is legitimately pleasing in taste.

A superior product differentiates, communicates care and quality, provides value in the exchange, engenders loyalty and prompts word-of-mouth.

Pick a Smart Spot

Location has always been critical to business. As a child, I ran a stand at my home in Winnipeg, Canada situated on a quiet street and later that day while dumping the warm, unsold liquid treat down the drain vowed to learn from the experience. The next time I loaded up my wagon, trundled half a mile, and set up outside the gates of The Tuxedo Golf Club. With that experience I learned another lesson – have adequate stock. My location was so good that the would-be Tiger Woods cleaned me out fast.

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The Advantage of Critical Thinking

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Jeff argues that there is too much me-too marketing.

Jeff spoke at the Canadian Marketing Association’s 2014 National Convention and the presentation is now a paper. Download it here SC_SpeedKills_Paper_web. Tweets from audience members capture reaction to the content.

“A welcome call for a return to critical thinking in marketing.” Josephine Coombe

“@jeffswystun rockin it at #cmac says the ‘vast majority of businesses are mediocre’ and the pink shirt is fab!” Andrew Simon

“The majority of brands out there are mediocre. That’s why the same brands get celebrated over and over.” Kelly Mack

“It is not about speed, it is about better!” Douglas Foley

“Behind every concept, idea & challenge there is complexity. We lose the magic every time we over simplify.” Gabrielle James

“A deflated and dispirited employee base will never build anything great.” Allison Fraser

“#cmanc @jeffswystun Hallelujah! Simple and faster is not necessarily better. “Slow down to speed up”.” Brian Etking

“Thanks @jeffswystun we could not be happier at the response to your talk.” Canadian Marketing Association

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Jeff Talks Agency Strategy in Advertising Age

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What Digital Agency Clients, Staff and Lead

 

ers Say in Private
These Shops Market Themselves as Hip, but They’re Actually Pretty Old-School
By: Jeff Swystun

Digital agencies enjoy a reputation of being cool, cutting-edge and creative. They even have a bit of a bad-boy persona because they talk about challenging the status quo. Their offices are hip and their employees are hipsters. They are positioned as the future of marketing and advertising.

In the past year I have consulted to six digital agencies on branding and marketing. Between them they operate in over 12 countries, employing over 2,000. The results are revealing. First up is the dissatisfaction among employees. This cannot be attributed solely to the stereotypical millennial, because,many who shared these experiences were over 35. Comments included:

“We lecture clients about technology when our time and expense sheets are manual.”

“Fun perks promised are always sacrificed because of proposals or client work. I understand business is business, but don’t promise it if you only hand it out when convenient.” Read more