The Profit Prophet

There is an excellent tale, by American poet John Godfrey Saxe (1816-1887),  that is based on a fable told in India many years ago. It is a good warning about how our sensory perceptions can lead to some serious misinterpretations; especially when we focus on one part in relationship to the whole.  It also deals with how people perceive things from where THEY stand not from were YOU stand. The tale in entirety follows this post. While this is an excellent tale about perception, it is also a cautionary tale for anyone trying to market a product to a general population.  While you are trying to "sell" an elephant, certain features of the elephant will be more important and more pronounced than others.  So, what you as a good marketer have to do is figure out what are the most profitable market segments to sell to and then highlight those features prominently, that includes determining if someone wants the "whole" elephant.  In some instances, and if possible, ...

I have been fortunate to be helping two startups over the past few months. I think both of these startups have a great chance because they are combining two disparate things into a new service or product. One thing that I have noticed about successful companies (both startups and giants), is that those which tend to be successful employ the “Power of ‘AND’.” This means they take traditionally mutually exclusive characteristics and then combine them into a new and novel way. Examples include Southwest Airlines (low cost fares with on-time, high quality service), Wal-Mart (low prices with large selection), and Apple (high technology with high styling) to name a few. That is not to say that companies that do not use the 'power of and' are not successful, it just seems like the odds for success tend to tilt towards people and companies who can pull this feat off. Ronald Reagan was able to combine a forceful, “hawkish” leadership, with the everyman personal touch. So...

During my early business life I was always struck by the fact that “expensive” hotels charged extra for everything, local calls, internet, movies, newspapers, breakfast, etc.; at the same time, more affordable hotels included everything. Although these less pricey hotels did not have marble foyers or linen tables, they did offer things that a very young, weary, traveler wanted: a clean room, safe & quiet environment, and some perks. For the exorbitant prices you paid at the high-end hotels, everything should have been included. What they should have done is given rebates back for things you did not use instead of nickel and diming us to death. I read an article in INC Magazine about a judge who was invited to a very expensive restaurant in the Washington, D.C. area. Even though it was a long drive, the ambiance was top notch, the food excellent, and the service superb. Still there was something that ruined the whole experience: He was charged $1 for ice in his $7 mixed dri...