Tag Archives: business strategy

What Your Small Business Should Learn from Big Business Mistakes

Photo by Alim Mohammed on Flickr

They’d lost seven million dollars in one year…

But after two years of losses, the numbers finally looked better. By the fall of 2010, Starbucks had earned $152 million, compared to that awful loss the year before.

That was a giant shift for a company many thought was dying, and the success was sweet.

But it sure wasn’t easy.

In his book Onward: How Starbucks Fought for Its Life without Losing Its Soul, Howard Schultz, Starbucks ceo (they don’t use capitals), tells a story of transformation as they went from hanging-on-by-a-thread to alive-and-thriving through the Great Recession.

It’s a powerful story, and a fascinating read.

“Personally, for the first time in a long time, I felt as if we were winning.” He writes.Not that we had won, because there is never a finish line, but that despite the odds, the brand and our partners were prevailing.”

It was the fall of 2010, and that’s what Schultz thought just before calling investors with long overdue good news.

Schultz, the company’s founder, had stepped away from the CEO role eight years earlier, when everything was going well. Starbucks was opening stores around the globe at an astonishing rate. Profits were steady and always on the increase.

Yet by 2006, he’d begun sensing an intangible change when he visited stores. Something was missing; the customer experience had shifted in ways that he could feel, but not explain. Traffic was down considerably.

Something was just flat off.

And it bothered him.

A lot.
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Income Strategy #12: Turn Your Offers into Packages

Photo Credit: FaceMePLS on Flickr

I couldn’t avoid it any longer.

I was snowed in for the rest of the week, with nowhere to go and no more excuses. My very first coaching client was eager to get started. And I knew I had to get a response to her fast.

That meant I had to create my first-ever coaching program, or ‘package’.

Why?

Because even though I’d never worked that way before, I’d knew that packages were key to building a successful coaching practice, and serving my clients best.

Because packages change EVERYTHING in your business. Continue reading

How to Manage Your Energy When Leading an Event

The tornado siren went off three times.

We were on day one of a family reunion, a three-day camp out at a beautiful state park in southern Alabama. My cousin, a project manager by trade, literally spent the last year planning the whole thing.

We had a special awning set up to provide shade, tons of good food, a rented speed boat AND bass boat, 100 years’ worth of family photos, a Saint Bernard…

…and now, a tropical storm and a tornado warning.

So while everyone headed to the campground bath house or other shelter, I couldn’t help but think about this week’s blog post.

I made today’s video for you right before heading to that reunion. And although this wasn’t a business event – the planning that went into it, and the energy it takes to manage it – was much the same.

And I’m not even talking about when little things like hurricanes, tornadoes and power outages hit. :) Continue reading