Marketing

What’s better for growth: a partner or a strategic alliance?

May 19, 2020 By Jan Triplett Leave a Comment

Partner or Strategic Business Alliance? Photo by Giorgio Montersino.

Get a partner or set up a strategic alliance — which is better for your business growth? Many business owners want a “partner” to share the load. Partners exert a lot of control no matter how little of the business they own. Use a strategic alliance instead to grow your business and keep more control.

What is a Strategic Alliance?

“If we are together, nothing is impossible. If we are divided all will fail.” Winston Churchill

The most accepted definition of a strategic alliance is that it’s “a formal or informal agreement between two or more individuals or entities to achieve a common goal”.

In 2005, companies reported that 18% of their revenue was generated through strategic alliances. The economy has changed but there are still thousands of alliances formed each year and are critical as we re-think business post COVID-19.

According to Ard-Pieter de Man and Dave Luvison, authors of Collaborative Business Models: Aligning and Operationalizing Alliances (from Business Horizons Volume 62, Issue 4, July–August 2019, Pages 473-482), “the big challenge is to align company interests with alliance interests”. This peer-reviewed article is definitely worth reading and thinking about especially for larger organizations.

It pays to know more and think more before deciding that a strategic alliance is right for you.

[Read more…]

Repositioning Makes Old Products New Again

November 6, 2013 By Jan Triplett 2 Comments

Dogs have slept with humans for years. Now it’s used as a repositioning reality™ for Serta. Photo from Commons at flickr.com

Repositioning helps customers think of your product or service in a new way.

Sometimes it works. I grew up with $10 tennis shoes. Nike told younger generations they were “training tools” (with appropriate tool and endorsers names) not just shoes. Nike got it right and made big profits. [Read more…]

Business Owners Hierarchy of Needs

June 22, 2013 By Jan Triplett and Daniel Diener Leave a Comment

What motivates business owners? It depends on where they are in the owners’ hierarchy of needs.

You’ve probably heard of Maslow’s “Hierarchy of Needs”. He identified how a person’s needs dominate motivation and behavior and that there is a specific order in which they should be met.

His theory suggested that the basic needs (physiological, safety, love and belonging) had to be met before the individual will desire and pursue higher levels of needs (esteem, self actualization, and self transcendence).

If a need is not met, the individual will feel tense and anxious. Although people may have several needs at any time, one will dominate their actions. [Read more…]

Always Dress for TV

June 2, 2013 By Jan Triplett Leave a Comment

Be ready. Have what you need to dress for TV.

Always dress for the TV camera.

My staff have always known if the media calls, come find me — even in the bathroom. I know they are on deadline and I try to respond asap.

Sometimes it results in a story or comment from me. Sometimes for clients or colleagues. Sometimes nothing. But that media person now knows or remembers that I have ideas and contacts when they need them the next time. [Read more…]

6 Ways to Improve Your Sales Projection Formula

May 1, 2013 By Jan Triplett Leave a Comment

Measure sales carefully to be profitable.

Your sales projection formula is key to more accurate financial projections and to the success of your business.

Sales projection formulas are always wrong. Here are six ways to improve them.

Sales projection formulas are wrong because…

Sales projections are not supposed to be right.
They’re a snapshot of what to expect each month based on relevant criteria and are defensible. Improve the sakes projection formula you use by making sure you don’t accept the projected sales numbers without question. The answers you get from salespeople in terms of what they think will close have to be reasonable and with some sort of basis not just hope. [Read more…]

First Looks Forum Eye-opener for a First-time Entrepreneur!

October 29, 2012 By Jan Triplett 1 Comment

It was a great experience meeting and talking with SXSW Interactive Festival director Hugh Forrest.

I’m taking a different approach towards starting up my own self-sustaining business. What long-time and successful business owners were able to offer me, a musician by trade, at the Business Success Center (BSC) and Texas Entrepreneurs Networks (TEN) First Looks Forum in October was an eye opener.

I compose, perform, teach and am currently a student at the University of Texas, and am also about to graduate soon. I have a tough time balancing the aforementioned and trying to get higher paying gigs. [Read more…]