The Betty White Phenomenon

Behold the Betty White phenomenon.  At 89, she is one of the hottest and bankable stars in the industry.  She is in strong demand, and has shown she can create a demand where there normally would be none.  A mere two years ago, she was in the background as one of those actresses who “used to be on TV.”  So what happened?

A Superbowl Snickers commercial. At a young 88, she could have opted to sit back and relax for her remaining years. But as a Hollywood commodity, she understands the need to try something different. In doing so, she was the first to go where no aging star has gone.  In case you don’t believe in the power of the internet, within hours she was the most searched name and topic on social media sites and search engines.

That demand landed her on Saturday Night Live.  She was highlighted in almost every scene, and sportingly went along with the writers(I don’t know if I could have been so accommodating—some of those skits were less than acceptable). I admired her ability to “go with the flow.” She decided to take a chance, to extend beyond her comfort zone, and by doing that reach an entirely new generation of fans.  She admitted she has no use for Facebook, but that’s not the point.  That new tool called “social media” has garnered her countless guest appearances, and several new series.  And she is in control.

There is a valuable business lesson here. Doing the same thing you’ve always done will not produce the same results.  Sitting back and resting on past laurels, thinking they will carry you through isn’t what it’s all about.  The world changes.  Customers’ expectations change. Economics change.  Betty White is a brand name, and she clearly understands the business fundamentals.

Ms. White has always had the courage to change as times dictate in order to stay in demand. What about you? As a business owner, do you cling to the “way we’ve always done it” or are you willing to make the necessary changes to keep your business sustainable and profitable?

What is Your Competition?

Waste Incorporated is your principal competitor.  Every day it robs you of profits.  Waste can impact any type of business, no matter if it is small or large. Whatever waste you have is costing you money. These dollars would be additional profit for you and your people, and could be used to improve your business.  Think about it:

•  What is Waste costing you?
• How could you use increased profits?
• What opportunities are being lost?
• What is your business lacking because there isn’t money?
• What are you missing out on because you don’t have the income?

 Waste is difficult to find because it hides so easily.  It hides in people’s attitudes, in comfortable, accepted ways of working, and in unfocused activities.  Any unproductive, unfocused activity is a waste.  However, finding waste is critical because waste robs your business of profits.

 If this is so detrimental to businesses, why not just fix it?  Typically, most business owners are experts in their craft.  Business operation is not necessarily a strong suit.  Every day demands push aside long-range planning, so it is not uncommon to run a business as a series of daily events.  In addition, core problems are seldom obvious, and the business owner is so accustomed to living with the problems, they overlook symptoms.  As problems take root, distortion, bias and inhibition start to manifest and block change from the inside.  All of this makes it difficult for a business to improve by themself.  Waste costs you money.  Change, on the other hand, can make you money.

 So what is the solution? How do you rid your company of its most devastating competition? Try a full scale business analysis.  This will identify problems and roadblocks in your business, and help you prioritize a solution. Why is a business analysis important to you? Ask yourself these questions:

•  Why did you lose your last 10 sales to the competition?
• Why did your last 5 employees quit?
• What’s the best thing about doing business with you?
• Is that what your customers think?
• If your business closed, would it matter? To whom?
• What do people think when they see your literature?
• What do people think when they see your ads?
• What do you want them to think and do? Are they doing it?

 You owe it to yourself and your future to eliminate your competition once and for all!