eLaunchers Blog

Operating Philosophies 2

Posted by Stephen E. Roulac, Phd on Jan 10, 2020 10:06:56 AM

11 Promoting Traffic at the Expense of Profitability 

Seeking to establish themselves in a new market, some companies may emphasize customer traffic—to the exclusion of whether they make any money on those so-called customers.

As Peter Drucker has observed, it is a fundamental business truth that the purpose of business is to create and retain a customer. But if you do not make any money on your customers, you do not have a business. Generating traffic without revenue and profitable customer transactions is a sure way to financial ruin. This lesson was relearned by many dot-com technology companies in the 1990s, who promoted traffic to their websites but failed to establish a viable business model. Numerous dot-com companies that failed did not sufficiently understand that, at the end of the day, maximizing hits is much less important than generating revenues in amounts more than the expenses incurred in
achieving those revenues, so that the business can make a profit and sustain itself.

Promoting customer traffic at the expense of good business is a mistake. 

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Topics: Business Growth, Systems and Processes, success, Strategic Coach, Financial Education, entrepreneurship, business planning

Operating Philosophies 1

Posted by Stephen E. Roulac, Phd on Jan 10, 2020 9:40:06 AM

1 Failing to Employ a Structured Decision Process
Decisions made without a structured, systematic process may be less than optimal.

Business school courses, academic textbooks, and training programs concerning decision making provide structured approaches, decision models, and tips to make better decisions. The classic approach involves defining the problem, identifying alternatives, undertaking quantitative analyses and qualitative assessments, exploring the risks, and then choosing the best course of action. While a structured decision making process is central to management, too often that approach is ignored.

Failing to employ a structured decision process can be a mistake.

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Topics: concepts and strategy, Business Plan, Strategic Coach, Financial Education, entrepreneurship, identify your why

4 Business Strategy Mistakes on "Strategy"

Posted by Stephen E. Roulac, Phd on Dec 23, 2019 12:29:50 PM

1 Strategic Incongruency

Strategy, to be effective, must be congruent.

If balance and consistency between different parts of the business strategy are lacking,
the resulting incongruence compromises the prospects of business success. Strategy congruency means that there is a reasonable connection between one part of a strategy and another part of a strategy. The purposes of one part of the enterprise are complementary to those of another part of the enterprise. The goals of one division are supportive of, and in parallel with, the goals of another division. 

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Topics: Business Growth, success, Business Plan, Strategic Coach, entrepreneurship, mentorship

12 Business Strategy Mistakes on Plans and Goals

Posted by Stephen E. Roulac, Phd on Dec 20, 2019 2:29:44 PM

1 No Plan

A surprising number of companies operate with no plan.

If you operate with no plan, you are proceeding in reliance on spontaneous, reactive, and even impromptu action—rather than on the basis of deliberate, considered approaches to the business. If what is to be done is not much thought about in advance, the opportunity for reflection, consideration and choosing the best way is quite limited. Without a plan, the benefits of plans—focus on priorities, assignment of responsibilities, accountability for results—cannot be realized. Enterprises with plans achieve greater and more frequent success than those that lack them. For as it has insightfully been said, failing to plan is planning to fail.

Not having a plan is a mistake.

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Topics: Business Growth, concepts and strategy, Strategic Coach, entrepreneurship, business planning

How can Dan Kennedy’s Indian data scientist attract more wealth for you?

Posted by eLaunchers on Jun 7, 2019 3:09:46 PM

Dan is famous for teaching us that, "The money is in the list… You want to be in an ‘Income At Will’ position…

You need to build an iron fence around your herd…. You must magnetically attract the right people to you…”

So how do you do all of that?

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Topics: data science, digital marketer, Magnetic Marketing, Marketing to affluent, Strategic Coach

Why Metrics are Critical for Marketing …..and What You’re Missing When You Don’t Use Them

Posted by Parthiv Shah on May 31, 2019 1:44:59 PM

There are significant reasons why marketing metrics are critical.  If you don’t know what works, what doesn’t, what’s weak, what’s healthy, you’re in the dark.  You’re missing out on pertinent information when you don’t use them.

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Topics: digital marketer, Marketing to affluent, authority marketing, Strategic Coach

Why Practitioners Struggle to Expand Their Practices

Posted by Parthiv Shah on May 31, 2019 12:35:27 PM

I travel a lot for work and often meet some enthusiastic and extremely bright practitioners all over the country. An underlying struggle I see all of them face is being unable to market their practice to reach a broader set of patients. As a marketing expert, this is something that breaks my heart to see - a 100% competent medical professional worrying about who their next client is going to be.

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Topics: digital marketer, lead generation, content creation, Strategic Coach

It’s Just Like Taking the Kids to the Circus

Posted by Parthiv Shah on May 24, 2019 11:54:16 AM

Image Credit: Pixabay

I was speaking to the children of a neighbor recently, and I asked them if they had ever been to a circus. I mentioned the animals, the clowns, popcorn, peanuts, soft drinks, and taffy apples.  That’s when the fun began.  Their father and I were astounded when the lid came off the jar. 

The discussions that ensued, sometimes multiple and concurrently as to the need to go, the desire to go, how old does one have to be, why should they want to go, can we go now was deafening.   There were questions about how it could possibly be fun with all the noise, smells, and scary faces of the clowns got tossed around too. 

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Topics: concepts and strategy, Marketing to affluent, Strategic Coach

Are Your Leads Alive, Dead, Or On Life Support?

Posted by Parthiv Shah on May 17, 2019 12:24:52 PM

This is a question you better know the answer to if you ever want to close those leads and convert them into paying customers, clients, or patients. If your leads are alive, dead, or on life support is as critical as it gets when attempting to grow a business. 

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Topics: Sales, lead generation, Marketing to affluent, Strategic Coach

So, You Want to Be a Coach; Do You?

Posted by Parthiv Shah on May 17, 2019 12:24:24 PM

As the corporate world is slowly dismantling itself through continual layoffs, downsizing, even insolvency, those who still have years of productivity in them are heading for self-employment in the field of coaching.  You want to be a Coach, Do You?  What was once a closely guarded group of industry experts and psychologists is not so private and specialized group.

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Topics: success, Business Plan, Strategic Coach, Continuing Education, Financial Education

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In this blog, we share what we learned from our reading and our experience. We publish two articles a week. Our blog editor Stacey Riska reads, researches and interview industry experts to write these articles. We also get articles contributed by others that Stacey publishes periodically to this blog. If you have a blog idea or blog article, kindly send it to sriska@elaunchers.com for review.

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