It’s the dawn of 2012 – the year we’ve all been waiting for, thanks to the Mayans and their spooky calendar forecasting the end of the world in December. Some of my friends have jokingly threatened to max out their credit cards, take up smoking, stop exercising, move to a beach house, and live it up this year. Why not, right? If the end time is coming, who cares about bad credit scores, smoker’s cough, or expanding waistlines?

I don’t know about you, but I’m not ready to throw in the towel just yet. The Mayans may have foretold doomsday, but I’ve got my own set of predictions for 2012. I’m not suggesting who’s going to win the next election or the Super Bowl. My predictions are less about events and more about dynamics – the nature of the dynamics between us and our companies, our colleagues, our families and friends, and our communities.

If we’re not careful, gridlock will become a way of life. In 2012, we’ll continue to see gridlock in politics (neither side of the aisle is willing to compromise), travel (out-dated and under-funded infrastructure vis-à-vis our roadways, the FAA, and a lack of fuel-efficient travel alternatives), and customer service (a generally lackluster and synthetic approach to handling customer service issues). Whether it’s in politics, travel, or customer service, gridlock is evidence that assets have been overleveraged; that there is little more to give. So, if all signs point to more impasses, more stalemate, and more logjams, is gridlock something we’re going to have to get used to? Maybe not… I think 2012 has the potential to be the year of anti-gridlock.

What follows are 10 things I think will influence all of our relationships in the coming year to help push through the gridlock that was 2011, whether the Mayans were right about the End of Days or not.

1.  Non-traditional education is in. We all agree that computers (and iPads) should be used in school, and that we should tailor teaching to the way our kids learn, not the other way around. In 2012, we will see the needle move in our antiquated education model. There will no longer be a devotion to one-size-fits-all. The curriculum is no longer a sacred cow. The Khan Academy and Moodle are testaments to this. Open source learning platforms like these will make it possible to get curriculum from anywhere in the world, quickly and inexpensively. This is a game changer.

2.  Tablets will rule the day. The same way smart phones revolutionized the way we navigate our world (now, we can even use our phones to pay for a cup of coffee at Starbucks) so too, will tablets. Tablets are going to be an essential part of our everyday lives, for everything from reading books to shopping to doing our jobs. American Airlines is even allowing its pilots to use iPads in the air versus carrying on hefty flight manuals and charts, and the company estimates it’s going to save over a million dollars a year in fuel costs as a result. Just another environmentally-friendly step closer to eradicating paper. In fact, I think tablets will be the nail in the coffin for conventional newspapers.

3.  Videos, videos, and more videos. Whereas social media was the hot item in 2011, mobile media will be all the rage in 2012. I’m not talking about high-end production in terms of video quality. No, it’s all about the content. It’s so easy for anyone, anywhere, to capture a moment, an experience, or an event and then quickly distribute it worldwide; and what’s going to distinguish all of those feeds will be the content. People will gravitate to what’s most valuable.

4.   The ball is in the employee’s court. Throughout the late 2000’s, providing an excellent client experience was the focus of the most successful companies. But beginning in 2012, we’re going to see the emergence of a talent war which will force companies to not only provide an excellent client experience, but also a superior employee experience. Even though we still have high unemployment rates, there are tens of thousands of jobs available because there is a lack of qualified workers to fill them. There is going to be more competition for talent than ever before, especially in highly technical fields. Those who are qualified will be a hot commodity, and employers will have to compete to attract and keep the best and brightest.

5.   Stories still sell. This is a prediction that would probably come true every single year, not just in 2012. We, as human beings, are always going to be compelled by the will-to-win story, the story of a person or a company who had to struggle to overcome a challenge. We love the underdog because their stories give us hope, which is something we always need. So, stories will be the continued medium for how we communicate – and how we sell.

6.   Grit is the new currency. This goes back to #5: we will really begin to appreciate people who have worked through hardship and persevered. The more challenge you’ve overcome, the more trustworthy you are. In fact, grit is the leading indicator to trust. There’s something pure about someone overcoming a challenge versus someone who’s won the lottery or who’s famous for being famous (Hello, Paris Hilton! Hello, Snooki!). The latter do not inspire compelling, lasting relationships built on trust. They’re the antithesis of grit, and people will soon tire of them.

7.   Advice is a must. In a world where competition is fierce, people will be looking for every edge they possibly can. With fewer resources, less energy, and less to leverage, every decision becomes more critical. They’re looking for the newest, the best, the tried and true – whatever it is that’s going to help them move forward more quickly and efficiently. From consulting to continuing education, if it’s going to help folks net better results, people are going to be into it.

8.   Emotional intelligence finally breaks into the MBA programs for real. At last, the idea that ones’ emotional intelligence is as important to their success as their IQ will become institutionalized, and it will happen in an incredibly important place: the programs that train our business professionals. The notion that it takes more than book smarts to be a great business leader has been teetering on the brink of mainstream thinking for quite a while, but this year it will finally take flight in American MBA programs. It’s about time.

9.   This will be a reinvesting year… again. 2012 will not be a year to make withdrawals, but rather to continue making deposits. Reinvest, reinvest, reinvest, reinvest. I know we’re all tired of this. We’ve been doing it ad nauseam for three years now. But it is what it is, and we can’t expect the economy to be massively different than it was in 2011. Don’t expect to work any less hard. In fact, be prepared to work twice as hard, and be prepared for it to take twice as long to get us back to a pre-2008 economic landscape. We will probably have to do the same thing again next year, too. I know that’s blunt, but there’s no way to sugarcoat it. This is our new reality. It’s about living within our means. Being pragmatic with our finances. Investing in relationships and reinvesting in our companies, in our infrastructure, in our health, and in our communities. Trust me; these investments really will pay off… eventually.

10.   Gratitude is the common ground. Despite the difficulties we’re bound to face in 2012, we still have a pretty unique opportunity in this country. So if we want to find something to rally around, it would be in the form of gratitude, because it can always be worse. Our situation is not permanent. It’s not the end of the world. We have such incredible freedoms and opportunities, and so many choices compared to people in other countries. Sure, we have challenges headed our way, but at least we can be grateful for another year to be who we are, to really begin to share our perspectives with each other, and to listen to one another’s stories, because I believe that could actually move us out of gridlock and into a brighter tomorrow.

Joe Mechlinski is the President of entreQuest and has partnered with countless leaders to effectively improve their team’s performance, their clients’ experience, and their company’s profits.

With all that has been written in the days following the death of one of America’s greatest corporate leaders, it would not be of the Apple kind of creativity if we just repeated what is already out there.  In honor of Steve Jobs, we’ll try to “think different.”

Though his body proved vulnerable in the end, the mindset of Mr. Jobs was truly an unstoppable force.  Those business professionals out there who have experienced entreQuest trainings know that we often discuss the Pareto Principle – or “the 80/20 rule” – where 20% of the workforce is generally responsible for 80% of the revenue.  With Apple valued at $350 billion at the time of his death, we speculate that the S. Jobs Principle could amount to a “99/1 rule” – where 1% of the visionaries accounted for 99% of the innovation.  Jobs was one leader in technology but he revolutionized almost every corner of its market.

For all of his success however, Steve Jobs met face-to-face with failure over and over and over again.  It could almost be speculated that his secret to winning was losing.  He dropped out of college.  He started-up an office in his parents’ garage.  After making $117 million with his first commercial commuter designed for the masses called Apple II, he missed the mark with the following models named Apple III and Lisa.  His leadership then slumped so much that the board ended up firing him.  He was hired back for an annual salary of $1.00.  He posted a quarterly loss after the cube-shaped Macintosh fell short.  And his body developed cancer.

By our society’s standards, that’s a fair amount of disappointments.  But by Steve’s standards, that’s just fair game.  He was a winner who didn’t dwell upon setbacks but rather constantly reset himself and his team for comebacks.  Not the kind of comebacks that required Apple to alter its story or its ambitions but the simpler kind of comebacks that showed a lesson had been learned and a new approach was being tried.  These were the experiments that resulted more often than not in big peaks of economic glory for Jobs (and everyone holding jobs under him).  For example there was NeXT Inc., Pixar Animation Studios, iMac, iPod, iTunes, iPhone, and iPad.

Steve Jobs had a vision for advancing technology to standards in design, aesthetics, ease, functionality, entertainment, and cool-factor.  Even more, he believed he could make this vision a reality and that made him maintain a mindset that he would wind up a winner.  And he did – even before Apple grew to become the most valuable company in the world as it remains at present.

Though Jobs has died, we now hold the living versions of his longtime vision.  With this technology in our hands, all we who remain here in the marketplace need is to adopt his mindset to turn our own career stories from fantasies to facts. 

For more information on how you yourself can “Choose to Win,” read the entreQuest article published in SmartCEO Magazine at this link:  http://www.entrequest.com/wp-content/pdf/entrequest_Mindset_12.03.pdf?phpMyAdmin=d2c4aa6766ft5760658.

Joe Mechlinski is the President of entreQuest and has partnered with countless leaders to effectively improve their team’s performance, their clients’ experience, and their company’s profits.

(*Information Sources:  “Steven Paul Jobs, 1955 – 2011″ by Yukari Iwatani Kane and Geoffrey A. Fowler.  The Wall Street Journal.  Thursday 6 October 2011.)

One of our favorite perks of our own corporate growth here at entreQuest is that we have more opportunities to work with companies that are headquartered all over America.  Not only does this mean traveling to unique cities and being introduced to different niche cultures, but we’re also permitted that wonderful feeling of making a greater impact far and wide.
 
All that said however, there’s a lot of truth behind the phrase: “think globally, act locally.”  With our business being born and bred in Baltimore, Maryland, the newsmakers that stem from this town always hit a little harder home for the eQ team.
 
So when this week’s Baltimore Business Journal published further insight on a merger between our big-time neighbor, Constellation Energy Group, and Exelon Corp. of Chicago, we had to read into it.  The first line of the BBJ’s front page article was most striking: “The $7.9 billion deal that would cost Baltimore its last Fortune 500 company…”
 
Initially a loyal Charm City resident’s heart might want to sink at that thought.  However the avid entrepreneur should think a little more along the lines of one of this town’s unofficial mottos: “Why be less when you can B-MORE?”
 
If and when Constellation Energy downsizes its Baltimore presence, who is willing enough and determined enough to take its place as our leading local fiscal force?  Will the title be crowned upon Under Armour to PROTECT THIS HOUSE we call home?  Will Legg Mason get a LEGG UP?  Will T. Rowe PRICE IT OUT?
 
Fly into Atlanta and you can taste Coca-Cola.  Tour around Detroit and no matter what car you’re driving, it’ll feel like the wheels of The Big Three.  Trek through Denver and you’ll be called from all angles to “tap the Rockies” with Coors Light.  Universal Pictures had such a hold in Los Angeles, it became its own enclave on the official map as Universal City.  Every Fortune 500 Company began as a small business at one point before it became an international phenomenon, not to mention its hometown’s hero.  Do you have what it takes to become Baltimore’s big biz? 
 
Look no further than down the street to find out how you can grow because here at entreQuest, our job is to revolutionize your sales.   In our partnerships with our clients, the sky is the limit which is especially important when trying to take the place of a Constellation.
 
Give us a call and we’ll discuss strategies for your company’s success.  After all, two heads are always better than one to “think globally” and two hands get more work done to “act locally.” 

Joe Mechlinski is the President of entreQuest and has partnered with countless leaders to effectively improve their team’s performance, their clients’ experience, and their company’s profits.

(*Information Source: ”Pulling the Plug? How Constellation’s Sale to Exelon Could Change Baltimore-Area Business: Effects on Real Estate” by Daniel J. Sernovitz.  The Baltimore Business Journal.  Friday 6 May 2011.)

Because eQ is so heavily invested in the power of a story, we decided to explore it at the level of two huge news stories taking the attention of the nation.  The eQuest at hand was to determine who was selling their own story better – Charlie Sheen or Wisconsin’s teachers?  The answer was surprising – even to us.

In case you didn’t hear, Charlie Sheen is on a drug.  It’s called Charlie Sheen.  Or so the TV and movie star says in regards to his sobriety.  His battle with addiction entered the forefront, again, when CBS suspended its production of “Two and a Half Men” – a sitcom seated at the top of the rating charts.  For the past week, Mr. Sheen has launched an all-out offensive against his bosses using the media as ammo appearing on “20/20,” “Today,” “Piers Morgan Tonight,” “The Howard Stern Show,” among multiple other outlets to public waves.  His one-liners have ranged from silly to shocking, but always sensational.

Then there’s Wisconsin where public employees have been protesting Governor Scott Walker’s budget plan which would limit their collective bargaining rights.  Much of the coverage has revolved around teachers whose involvement in the demonstrations caused dozens of schools to close across the state during their absence.  The message the teachers want to send to Madison: support the unions, support the schools, support our families, etc.

eQ believes that a story is the most important part of a company’s foundation for it encompasses the organization’s mission, purpose, values, and history.  The story is the basis for confirmation that all parts of a business are properly aligned to one another including revenue goals, marketing materials, sales strategies, community involvement, essentially everything from the inside out and around again!

So when we looked at the two business entities discussed above – Charlie Sheen and the Wisconsin teachers – who do you think we found exemplified their own story better?

Call him Chris Taylor, Bud Fox, Ricky Vaughn, or that guy who’s done a lot of drugs and once locked a prostitute in the bathroom…  It’s Charlie Sheen!   Why?  Because he’s perfectly in character so to speak.  How different is this torrential downpour of a media tour he’s staging now different than the life he’s always acted out in the public eye?   Though he may be making a huge mistake for the future of his acting career (and possibly the future of his life if he is actually stubbornly struggling with addiction) and though his behavior is the antithesis or professionalism (please rest assured it is definitely NOT what eQ would EVER recommend for businesspeople outside a small population of playboys in Hollywood), Mr. Sheen’s wild escapades are a part of the story he’s selling.   In fact, the numbers would show this story of his has managed to make him more money over the years.

Meanwhile the teachers, regardless of whether any of us think their current cause is right or wrong, aren’t exactly protesting in a manner that aligns with their mission.  Almost everyone would agree that the majority of Wisconsin’s educators are not only smart and creative, but they have their students’ best interests at heart.  So why collectively engage in an event that would obstruct learning?  What would have been (and can still become) a much better course of action is to combine those creative smarts of theirs into creating an after-school project that would try to TEACH the state of Wisconsin all about its beliefs on the subject of the budget cuts without temporarily sidelining the students.  

What the specifics of such a program would be, we’re not sure as eQ wasn’t hired to help.  But we are absolutely positive that these teachers could have come up with an incredibly unique and unprecedented form of protest with much greater potential for gaining support had they pooled their talents and efforts wisely and stuck to their story.

Kristen Zatina is a writing specialist at entreQuest who scours worldwide business news for corporate inspiration.

(Information Sources:

“Charlie Sheen’s Rants Benefit CBS Rivals” by Sam Schechner.  The Wall Street Journal.  Monday 28 February 2011.

“CBS Chief Hopes for Return of ‘Men’” by Sam Schechner and Lauren A.E. Schuker.  The Wall Street Journal.  Monday 28 February 2011.

“Wisconsin Protesters Defy Order to Leave” by Amy Merrick and Kris Maher.  The Wall Street Journal.  Monday 28 February 2011.

“Wisconsin Governor Issues Ultimatum to Democrats” by Amy Merrick and Kris Maher.  The Wall Street Journal.  Tuesday 1 March 2011.

“Wisconsin Governor Seeks Deep Cuts” by Amy Merrick and Kris Maher.  The Wall Street Journal.  Wednesday 2 March 2011.

Wisconsin Education Association Council: http://www.weac.org/Home.aspx

Charlie Sheen: http://www.imdb.com/name/nm0000221/)

If there was a category for Best Hosts of an Academy Awards show, it’s unlikely the Oscar goes to…  Anne Hathaway and James Franco.

Didn’t get a chance to watch last night’s biggest event in Hollywood?  Well the critics’ reviews were in this morning and the emceeing duo failed to impress.  After a fairly strong opening act thanks to digital editing and cameos by Alec Baldwin and Morgan Freeman, the level of comedy and charisma drastically dwindled from Anne and James.  So much so in fact that when Billy Crystal came out to make a presentation halfway through the evening, you could almost feel the crowd begging him to stay out on stage for the rest of the ceremony.  Crystal’s worst improv would have surely beat Hathaway and Franco’s best script.

In retrospect, it could be said that three factors leading up to the red carpet basically predicted that the hosts would not provide a remarkable experience for their audience.  Business leaders tune in because these factors could play a role in how your company can avoid delivering anything less a remarkable experience to your clients.

1. MISSING the TARGET:  As everyone knew beforehand, Anne and James were picked for their potential to attract a younger demographic for the annual show.  Unfortunately, Anne and James’ potential to entertain their existing audience of the distinguished and the devoted seemed poorly researched.  Though they are both talented actors who can definitely dazzle in designer fashions, their personalities seemed an improper match to an 83 year-old treasured tradition of the American motion picture industry – even from the perspective of a younger viewer.  Bob Hope was the classic.  Billy Crystal was a continuation.  Steve Martin was consistent.  But two young celebrities charged with commemorating the year’s finest film productions and top talent?  It seems the Academy put its story aside in an effort to rein in some ratings but ultimately no organization can succeed a strategy when it loses sight of its original mission.

2.  FORGETTING the PURPOSE:  Along those same lines, a leader must always remember that it’s not about them, it’s about something greater.  Whether you’re leading ceremony or leading a business, if you forget about the “what’s in it for them” (“them” being your viewers or your clients), you will not only lose sight of your target, you’ll end up losing your target itself.  Several times during the show, Miss Hathaway seemed to let her stardom take center stage when she should have been putting the spotlight other people and other productions or even making jokes that everyone could relate to and therefore participate in instead of just shaking around in her dress for her “personal moment.”   It’s beginning to make sense why Hugh Jackman pulled out of their duet…  The second we try to get more out of our performances and/or partnerships for ourselves is the very second our viewers eye up the remote control or our clients consider the competition.

3.  LACKING the MOTIVATION:  Before Oscar night, James Franco was quoted as saying: “Nobody thinks I’m Chris Rock or Billy Crystal.  I can try anything and nobody has high expectations, so nobody cares if I’m not that great.”  It’s hard to believe he’s referencing his great fortune to be selected for one of Hollywood’s highest honors in hosting its most acclaimed awards show!  If an organization ever took pleasure in its prospects not having high expectations or not caring if their business is not that great, then such a company is setting goals that are absurdly low and their revenue numbers are likely going to loiter at that level too.  While the Academy and ABC should be somewhat saluted for taking a risk in taking on two younger-than-usual hosts, hopefully they learned the most valuable lesson from last night for the next time.  That being that no matter who they choose as the host, make absolutely sure they approach the Oscars with an attitude to outdo Chris Rock and Billy Crystal, and a willingness to try and exceed the highest expectations of his or her most loyal fans, and the awareness that every viewer will care very much if you’re not that great.  Your greatness is a measure of your clients’ greatness in choosing to invest in your performance.  Don’t let them down.  And by all means, don’t let yourself be a downer before you even start the show.

Kristen Zatina is a writing specialist with entreQuest who scours worldwide business news for corporate inspiration.

(Information Sources:

“‘Clumsy and Downright Painful:’ Anne Hathaway and James Franco’s Skits Fail to Impress Critics” by Sarah Bull.  The Daily Mail.  Monday 28 February 2011.

“Academy Spreads the Oscars Around” by Ethan Smith and Michelle Kung.  The Wall Street Journal.  Monday 28 February 2011.)

How relevant is toothpaste to your business?

It could be as enlightening as it is whitening.

Yesterday The Wall Street Journal published an article titled “Whitens, Brightens and Confuses” about how manufacturers have been offering too many products.  Differentiated by flavor, preventative ingredients, cosmetic value, all-natural vs. pyrophosphate-enforced, gel vs. paste, etc., such a wide variety has customers feeling overwhelmed by choices in the dental care sections of stores.

Companies like Procter & Gamble, maker of Crest, noticed that their excess of solutions was becoming more burdensome than an excess of plaque among their consumer base and subsequently it has been reducing its tube-shaped offering over the past two years.  The conglomerate’s director of global oral-care research and development Matt Doyle said: “We’ve come to realize that fewer is better.”

Other businesses are squeezing down too.  In 2007, a total of 102 new toothpastes were introduced to stores.  Last year, that number was 69.  In March of 2008, there were 412 distinct types of toothpaste on shelves.  Last month, that number was 352.

Whether you run a B-2-C or to B-2-B, we all must adapt our businesses to the pace of the age in which we’re currently operating.  An overabundance of choices might have served us well in the past as we were able to offer anything and everything to anyone and everyone.  It’s becoming grossly apparent, however, that consumers want to make quicker decisions without deliberation.  Can your business meet this need?

With Google searches and smart phone apps, the masses are moving towards simplicity.  People like to throw a few words into the Google search box and skim over the first few links yielded.  If they don’t see what they want, they change the words in their query.  People also want their smart phone to only deliver them the most pertinent headlines and provide only the commands and choices that are absolutely necessary for an efficient and entertaining mobile existence.

Is your business successful at this kind of sought-after simplification?  Is your team doing the Google-like work by sort through the choices for your consumer target so that only the top options are presented?  Is your message akin to a smart phone app making the minimum meaningful?

Consider taking a hint from the trends of toothpaste of clenching down on choices before a bite’s taken out of your business.

Kristen Zatina is a writing specialist at entreQuest who scours worldwide business news for corporate inspiration.

(*Information Sources: “Whitens, Brightens and Confuses” by Ellen Byron.  The Wall Street Journal.  Wednesday 23 February 2011.)

The Small Business Optimism Index recently rose to its highest level since December of 2007.  This survey finding by the National Federation of Independent Businesses revealed that small business owners are more confident they’ll experience an increase in sales over the next few months.

Interestingly this same Baltimore Business Journal article that reported the above ray of light also cast a shadow of doubt stating that only 3% of small business owners plan on increasing their workforce in the next three months.

So what does this tell a sales growth consulting company like entreQuest?  That small businesses are on the cusp of confidence but they need reassurance before taking action and reinvesting their capital into hiring the right people again.

This type of behavior is not surprising at all with the current state of the economy.  In fact, the optimistic but cautious attitude of most small business owners is completely appropriate.   That said, if your self-assurance is stepping up, why are you sitting still?

There is a better exit strategy from the recession than remaining in a hiring freeze especially when conditions are warming up for a brighter business outlook.  What is it?  Well that depends on the nature of your particular business and the mission of your particular company.  One theme runs central, however, and that is that if no business can be too big to fail than no business can be too small to succeed.

entreQuest knows this to be a fact because we just spent the entire recession watching our client companies grow.  They were hiring while most businesses were firing.  They were ramping up their strategies while most businesses were shutting down part s of their operations.  They were up-selling their offerings while most businesses were downsizing their divisions.

As an outside source of corporate growth solutions, entreQuest can assess every aspect of your organization and determine the best strategy for your team to act on your intuition and actually increase sales in the next few months.  Maybe hiring is the right move to make now, maybe it’s not.  Maybe outsourcing your sales management roles is a better course to take now, maybe it’s not.  Maybe your company’s story is the best piece to create now, maybe it’s not.

Whatever we may discover alongside you and your team about the present state of your organization and its future potential for growth, you’ll have the confidence to do more than just hope and wait.  Like our current partners, your optimism will turn into action which will turn into growth over the next three months and long after that.

Kristen Zatina is a writing specialist at entreQuest who scours worldwide business news for corporate inspiration.

(Information Source: “Feeling Optimistic?  Many Small Businesses Say They are in 2001″ by Kent Hoover.  Baltimore Business Journal.  Friday 11 February 2011.)

What do Neiman Marcus and Nascar have in common?

Not much aside from the fact that they both start with the letter “N,” they’re both into brand names for clothing, and it just so happens that right now they’re both in the same position of evaluating their current client base and making adjustments for improvement.

For Nascar, it’s a matter of winning back the loyal fans who slipped away during the recession.  Last year, the Daytona 500 had an audience of 8.8 million which was way down from the 12.5 million viewers in 2006, not to mention there was a steady decline in the race stand attendance as well. 

So what are they doing about it?  After polling 12,000 of its fans, Nascar made some changes and we’re not talking about lanes.  The organization ridded its racecars from “wing” spoilers that made them look like a convoy of Honda Civics off the set of “Pimp My Ride.”  There will no longer be penalties against drivers for minor acts of aggression like shoving, swearing, and rubbing bumpers.  Plus the Dayton International Speedway now allows fans to carry-in as many as 36 cans of beer as opposed to the former maximum of a 6-pack.  And the results?  Well, we’ll know more after this coming Sunday’s Daytona 500.

For Neiman Marcus, it’s a move to attract more of its less affluent customers.  Traditionally, Neiman Marcus targets the approximately 100,000 people who spend upwards $12,000 a year in its stores – a group which accounts for half of its sales!   In December of 2008 however when sales plummeted more than 30%, the company knew it would have to make changes and we’re not talking about outfits.

So what did they do about it?  18 months ago, the retailer began broadening its luxury lines to included lower priced merchandise that would be more affordable to a population they title as “aspirational” – those with a  net worth of below $1 million.  And the results?  This past January, Neiman Marcus posted positive trends with not only a sales gain of 9.8% in January for stores open at least a year but also a sharper sloped increase in revenue over its competitors Saks and Nordstrom.

Neither Nascar nor Neiman Marcus had to change their business, their values, or their story.  The closing line of Nascar’s history section on its website reads:  “But no matter the year, there have always been – and always will be – constants: Close, safe competition, fair stewardship and drivers who are genuine American heroes.”  The corporate profile of Neiman Marcus summarizes its purpose as: “We have stayed true to the principles of our founders – to be recognized as the premier luxury retailer dedicated to providing our customers with distinctive merchandise and superior service.”

The “WHY we do what we do” – or what eQ calls a company’s story – did not have to change but the “HOW we do what we do” – or what eQ calls a company’s processes – did alter a little to fit a broader audience.  For Nascar, it was going back to its most loyal fans and figuring out what they defined as the behavior of “genuine American heroes.”  For Neiman Marcus, it was reaching forward into a broader market that would allow it to retain its claim to luxury but reinforce its position as premier.

The importance of aligning a business’ processes with its story cannot be reiterated enough.  And while we’ll have to wait for their fiscal futures to unfold before we can be certain, it’s very likely that both Nascar and Neiman Marcus will soon have one more thing in common: corporate growth.

Kristen Zatina is a writing specialist at entreQuest who scours worldwide business news for corporate inspiration.

(Information Sources:  “Neiman Marcus Opens Customer Door Wider” by Rachel Dodes.  The Wall Street Journal.  Tuesday 15 February 2011.

“Nascar Revs Up Rough Side to Win Back Fans” by Valerine Bauerlein.  The Wall Street Journal.  Monday 14 February 2011.

www.neimanmarcus.com

www.nascar.com)