Expertise is Just a Commodity

I'm an expert!   That used to be all it took to attract customers.  Not today.  Experts are a dime a dozen.  In our post Madoff world most people don't trust an "expert."  Today trust and integrity constitute value.  People want to deal with someone they know and trust.

I'm starting to see this permeate advertising.  State Farm's current "I'll be There" t.v. commercials post the phrase "We all need someone to believe in.  To rely on.  To trust."   Ally Bank, the new name for GMAC touts the fact that it's a bank "that values integrity as much as deposits."   Their television commercials don't pull any punches in their depiction of  "a typical banker" ripping off a child.   Ouch!

Yet we're a more impersonal society than ever.  So how do you translate this to a wired world.   Online brands will become even more important than ever before.   Those companies that solidify their brand value will accelerate their market share.  Those that can't will fail.

How do you create a trusted brand online?   Gorilla marketing word of mouth campaigns. People want to hear from other people, preferably those that are similarly situated (demographically, socio-economically, and even regionally).    A prime example is Yelp, the website that allows people to review what they like and don't like.   Angie's List provides another example.  I believe these web based intermediaries will continue to grow as more and more people look for trusted sites they can use when navigating around the web.  

What are your thoughts?

Some Good News on the Economy?

I had two interesting calls today from executive search consultants. Both said the same thing independent of each other...."we're as busy as we've ever been. Companies are no longer looking for people that can help with turnarounds, but they are looking for people that can grow an organization." I don't know if this is a trend or an anomaly...but maybe things are starting to improve!!

The Age of the Self Employed

The current recession will have a lasting impact on all of us.   A lot of basic tenets many of us relied on have proven to be dead wrong.   One of the most damaging -  "buy and hold" has managed to decimate the portfolios of the investing public (mine included).    There are lots more.   One trend I foresee.  More people will be self-employed.   

There's a great article posted on the Daily Beast website that describes the new realities of work.   People no longer work for companies they do "gigs"- hopping from one opportunity to the next, selling their unique skill set.   My sense is that the ranks of the self-employed are going to mushroom over the next decade and companies that can figure out how to tap into this trend will profit.   

It's not just offering products and services that self employed people need, it's understanding their unique needs.  Unfortunately there is not much recent research on this segment.   My sense is that companies that tap into this segment will see tremendous improvements in productivity.   And those companies that figure out the unique needs of this group will experience significant growth.  

At the beginning of the decade many talked about the new generation of workers as free agents....bouncing from one company to the next.   Company loyalty suffered.   Motivating these free agent employees was tough.  Ironically, the self-employed might be an easier group to motivate because they want to secure their next "gig."   

I believe the era of the self-employed will usher in a new period of worker productivity.   Am I too optimistic?  

Best.  Brian.

Who Pumps the Pumper

Everyday's a challenge in these difficult economic times.  No more so then when dealing with the people you work with....especially when you are the business leader.   You're expected to keep your team "pumped up," motivated, and inspired.    It can be very demanding because your employees are watching you for clues about what you really think.   Any inconsistencies will be discovered.  So how do you pump yourself up?  

A very close friend suggested I start meditating first thing in the morning.   "Start the day right," he counseled.  Focus on the day ahead, all that you will accomplish, all that you look forward to, and all that you are thankful for.   He even gave me a book... The Monk Who Sold his Ferrari.    I didn't expect much, but I started meditating first thing in the morning.   And I must admit, it's made a big difference.   I'm excited to start each day and take on whatever challenges I may encounter.   

Give it a try and let me know what you think.   Best.  Brian.

Advice from a 94 year old business legend

Another great article...http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/04/26/BUPL178GN8.DTL&hw=Shorenstein&sn=001&sc=1000

Great Article on the Sales Profession

Love this article about the sales profession by Ben Stein in yesterday's New York Times. Here's the link.  http://www.nytimes.com/2009/04/26/business/26every.html

Welcome!

Well here goes!  My foray into blogging.    Now when I see an article that grabs me, I'll post it here.   When I want to write about something I believe is important, you'll see it here.   I'm looking forward to generating comments and creating a dialogue about the ever changing business issues that confront us.   

First some general observations.   Notwithstanding the current economic environment, I'm an optimist.   Yes things are tough right now, but the disruption is creating unique opportunities for those people and companies that can see beyond the next several months.   This is a time to try to leap frog the competition.  Look at things differently...and pounce!   

By way of background, I started my career as a corporate and securities lawyer but quickly knew I wanted to move out of the law and into business.   I've had a varied and exciting career that's allowed me to learn and grow every step of the way.   

I started my business career as a member of the senior management team of a diversified consumer finance and retail business that catered to the Hispanic community.   We had a great run culminating in taking the company public.   I then spent almost a decade at the Farmers Insurance Group of Companies in various roles including, Chief Marketing Officer (yes a lawyer can become a CMO), and President of the company's highly successful financial services division.   I was then asked to turn around a global software company as the organization's CEO.  Far and away my most challenging experience - but also the most satisfying because of the great people I worked with and the fact we were able to successfully sell the company.    

Throughout my journey I've learned some key lessons: 

1.  People are your most important asset - yet too many organizations treat people like chattel.

2.  Anything is possible as long as you believe it - attitude does matter.

3.  It's all in the details - there is no quick route to success, you have to work hard.

Let me know what you think about this Blog.  I look forward to exchanging ideas with you.   

All the best.  Brian Cohen.