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Tag entrepreneur

Adapt or Parish

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Juicy Fruit®, Doublemint®, Spearment® ring a bell? We’ve all chewed them. Wrigley’s gums are a part of almost everybody’s childhood. And the story of William Wrigley Jr is nothing short of inspiring.

What budding entrepreneur hasn’t been bored at school? Expelled at a tender age, Wrigley Jr went to work in his father’s soap factory. But with a flare for sales, it wasn’t too long before Wrigley Jr went out on his own, starting his own company selling soap. With a stroke of entrepreneurial genius, he did something different to dad and added a bonus freebie of baking powder to every sale. And sales boomed. But once he realised the baking powder was more popular than the soap, he switched to selling baking powder with a different freebie thrown in. You guessed it. A stick of gum with every sale. Very soon he noticed the gum sales out did the baking powder and so he switched track again to producing his own line of gums.

The thing is Wrigley Jr never started out selling gum. But as he saw new opportunities he grabbed them. Through times of economic depression and war, Wrigley continued to adapt and reinvent his products. Taking calculated risks with marketing while his competitors pulled in the belt. And they paid off. Where other company’s sales dropped, Wrigley’s thrived.

Adaptable and tuned in to the wants of his market Wrigley Jr’s success as an entrepreneur means that his gums are still available today. Over 120 years later.

Adapt or perish. And it’s as true in business as it is in other areas of life. Wrigley Jr was a genius at it. Kodak stuffed it. And Australia Post – well time will tell. The thing is as times change, new markets open and old markets close, technology jumps ahead at lightening speed and the traditional ways of doing business become a thing of the past, we must adapt in order to survive. I’ve heard it said it’s like turning a big ship around. First you’ve got to be looking ahead and see the need. Then you’ve got to take action. Then you’ve got to be patient while it all comes together. Sometimes easier said than done.

One thing is for sure. Change happens. And there will always be upturns and downturns.

Will your business survive?

How can you adapt and thrive?

Word on the Street

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So one of my staff was up in Sydney on the weekend and she happened to catch the news. And she couldn’t wait to share it. Because word is they are selling an entire street in the Sydney suburb of Castle Hill.

It seems a genius couple have got together and talked their neighbours into selling 20 properties all in one line. A massive 1.9 hectares. Talk about creative thinking. A developers dream and cash cow in the making. Projected returns are huge. Last year when 8 neighbours got together in Epping the properties sold collectively for $30 million. They made $3.75 million each on houses that would normally have sold for $1.2 million stand alone. Pure genius. That’s money in the bank.

And the best thing about these situations is that it’s win-win. The abundant thinking of a couple willing to share their idea with others is a win-win for all involved. The neighbours. The developers. And the very lucky agent.

Getting away from being locked into traditional ways of thinking can open up so many opportunities that you might not otherwise see. And sometimes the best ideas come together when we are prepared to join forces with others. When we are prepared to network. In business circles it’s called a joint venture. And it’s a great way to make things happen by leveraging the best of what we all have to offer.

Sometimes the whole is greater than its parts.

What do you have to offer?

Who could you join forces with?

The right mentor matters

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I was at the bank the other day and noticed their new advertising campaign. Invest in yourself: The right mentor matters.

 

It sure does.

 

Their poster boy of choice is Jamie Oliver. As they say, even Jamie has a mentor. Italian chef Gennaro Contaldo. And it makes sense doesn’t it. To achieve that level of success, there must be have been somebody to guide him. Somebody to teach him the skills he needed to make it all happen. Somebody wiser and more experienced.

 

While mentoring is an age old practice, it’s becoming increasingly popular in the modern world. Because mentoring is one of those great life-hacks. In business, in sport, in career development, in fact in every aspect of life. When you have a burning desire to create something in your life, having another person to learn from short cuts your path to success. With someone to show you the ropes you can avoid many of the mistakes that come with inexperience.

 

So how do you choose a great mentor?

 

Jamie Oliver had a burning desire to make the world’s best pasta. Now that’s quite a goal when you consider he’s not Italian. He wasn’t after fame and fortune. He just wanted to make the world’s best pasta. And with his passion, drive and crystal clear focus, that goal led him to find Gennaro Contaldo. But finding Gennaro was one thing – getting Gennaro to agree to be his mentor was not so easy. It took persistence, strategy and making himself into the best mentee possible so that Gennaro couldn’t say no. Gennaro had so much experience and here was a young man who valued what he knew enough to want to learn from him. And because he believed in him, Jamie’s passion lit a fire in his mentor too. A win-win situation. Now as a celebrity chef with a string of restaurants spanning the world the rest, as they say, is history.

 

So if you’ve got a burning passion to do something, get really clear on what you want so you can find a mentor that’s the right fit. You might be amazed at who will turn up in your life when you really get focused. Then make yourself into the best possible mentee so when you approach them they can’t say no. Be persistent, be creative, be willing to sacrifice time wasting activities, be willing to listen, be willing to ask and be willing to be accountable – not only to your mentor but yourself as well.

 

A good mentor – mentee relationship is a winning combination. Terms like life-hack have become common place, but have you stopped to consider what they really mean?
To hack, or short cut, your way to success by using someone else’s knowledge and experience. To avoid pitfalls, to play to your strengths and improve your weaknesses because a more practiced eye is watching over you. What an idea!
Obviously that’s something we wanted to be a part of, so we set up a mentoring program of our very own. The basis for that program is to provide proven strategies for success, in any area, at a price that makes the decision a ‘no brainer’.
Why?
Because that’s how passionate we are about helping people, and we truly believe mentoring is at the heart of that.
If you agree, give us a call now.
Imagine how far you could go…

 

 

 

 

Bouncing Back

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So what do you do when you’re so successful that you’re limited by your own success?

Well known as THE hangover cure, Berocca have become so successful that they’ve positioned themselves into a corner. Getting back your B-B-Bounce after a big night out has become such a successful marketing campaign that their market has become limited to the brightsparks that drink themselves into oblivion on a regular basis. But what about the teetotallers or those who indulge occasionally but know when to stop short of the drink that will take them into tomorrow’s hangover?

I was watching a new Berocca ad on tv the other night and it’s a stroke of pure genius. Because whoever is driving their new advertising campaign has got it right. What do you do when your product is so successful that you’ve shot yourself in the foot? You get people to view the product in a different light. With just a slight shift in focus, Berocca is now being advertised as the perfect start to a high performance day. And with the option of a hit of Guarana for that extra kick, Berocca’s now got all bases covered. The hangovers and the high performers.

Sometimes a small shift is all that’s required to open up the market.

What’s your shift?

Spreading the risk

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Have you tried it yet? The Cadbury Chocolate Vegemite combo?

While the jury is still out on whether it actually tastes any good, it’s got me to wondering how many people actually know the real story of how Vegemite got off the ground in the first place.

Because it wasn’t an overnight success.

In fact people hated it.

Almost a century ago, when the war made imports difficult, food entrepreneur Fred Walker saw an opportunity to produce a home grown alternative to Marmite. They called it Vegemite. But it wasn’t popular. A copy cat spread just didn’t seem to impress the public.

Not to be put off, production continued, and to keep things afloat the company diversified into processed cheese by signing on with the US company Kraft (now you know why Kraft appears on the label). This smart move took the pressure of Vegemite to perform. Lucky they did because it wasn’t until another 15 years later that Vegemite actually took off! Some might say a stroke of luck, but perhaps it was sheer bloody-minded persistence that meant Vegemite got added to the WWII soldier’s ration packs once the health benefits of this great Aussie icon were finally established. Not too mention a great advertising campaign.

Sometimes it’s all about the timing. But when you’ve got to survive in the meantime you often need to diversify.

Got some brilliant ideas that aren’t quite coming together yet?

What could you do to keep things afloat?