Lessons from the NCAA Basketball Finals

Lessons from the NCAA Basketball Finals

It’s been a few weeks and hopefully the sting of your broken bracket has faded enough to apply some lessons from college basketball to our businesses.

Living in Indiana, I was rooting for the Purdue Boilermakers to win it all.  In my family we even have a Purdue grad, my step-daughter.

April 7th and 8th, the top teams played in the Womens and Mens championship games and as I was listening to some of the commentary during and after the games, there was a common theme that the champions had that was different from the runner-ups.

In the Women’s championship game, Iowa had Catlin Clark who was their superstar and has been a media favorite.  She scored 30 points and was the leading scorer of the title game.  Catlin Clark is a college basketball superstar.

The next night, Purdue’s Zach Edey racked up 37 points and outscored everyone of the players from both teams.

Both Catlin Clark and Zach Edey finished their season on the losing team.  Purdue lost by 15 points to UConn and Iowa got beat by a dozen points to South Carolina.

Why is it that Iowa and Purdue, both teams with nationally known superstars lost the most important games of the season?

It’s because Basketball is a team sport.

As I glanced at the scoring stats, this years college champions, both the Men’s and Women’s side, the schools that took home the top trophies had a balanced team that didn’t rely on just one superstar.

The Iowa Hawkeyes had just 5 players that scored while the Women’s champs had 9 players adding to the South Carolina Gamecocks final score.

The UConn Huskies had 7 players contributing points in their win, while Purdue’s Zach Edey, only had 4 teammates sinking the ball.

The day after the Men’s Championship game I was talking with my boss about all of this and applied it to our situation at Federated Media.

My station, WOWO is one of 10 in our company.  5 are in South Bend, Indiana and the other 5, including WOWO are in Fort Wayne, Indiana.  During the 11 years I have been with WOWO, either on the sales team or as the General Sales Manager, WOWO has grown to be the highest scoring revenue station out of all 10.  It’s not the one with the largest audience, and it’s not the one with the most popular music.  They don’t play music, WOWO is a news/talk station.

WOWO’s sales team has depth and balance.  When I was hired in 2013, I was the 5th person on a 5 person team and typically that position is a revolving door.  However in a few years I became 2nd in longevity and when I was promoted to General Sales Manager in 2020.  The year before, in 2019, I was named the top Account Executive in our entire company so my priority was to hire someone to replace myself.  Nearly 4 years later, I hired myself back to the sales team for WOWO and left most of the management duties.

Then and now the WOWO Advertising Sales Team of Account Executives has been filled with strong players.  Tracy has been with us 23 years.  Rob joined 11 years ago and we just added another Federated Media veteran, Brad who spent two decades with our sister station WMEE and returned 6 months ago, this to on the WOWO team.  Having a strong team has helped us nearly triple the revenue results and it doesn’t rest on one person.  Everyone has a slump every once in a while and if you don’t have the others to carry your team through, it can be very challenging.

What about your organization?  How much of the success relies on one person?  Are you vulnerable if something were to happen to that person?  I understand that most companies in the past few decades have become lean and reduced redundancies and back in 2020 with the Covid pandemic, our company did too.   However, we should also create backups for people, not just systems.

Need help on any of this?  Ask me and if it’s not in my portfolio of services, I have connections to people who can assist.

 

 

 

You Can’t Whine & Win at the Same Time

You Can’t Whine & Win at the Same Time

Congratulations, you have successfully completed 6 months of 2022.

How do you feel about that?

Well first off, for making it this far this year, you and everyone else gets a participation trophy.

However the real trophies in life come from more than just showing up.

If this sounds like a little rant, it is, so buckle up.

We often hear news stories and articles talking about “the average” this and that.

You know what an average is right?

You take it all, the good, the bad and the stuff in-between; add it up and then divide by the number of figures you averaged.

There’s an old joke about three guys at a shooting range.  The first one misses his target by 6 inches to the left.  The next one also misses his target by 6 inches to the right.  The third guy happens to be a statistician and says, “Well I don’t even need to shoot, ’cause if you average out your two shots we got us a bulls-eye.”

No matter what you are doing, there is going to probably someone better than you and worse than you.

You certainly don’t want to be in the worst group, right?  In business those who are doing the worst are failing.

The next group, the one in the middle. These are the ones who are doing average work.  Their business is not quite failing or not making boat loads of money either.  They are just surviving, for now.  Or maybe they were surviving and then something happened and now they aren’t doing so well.

The last group, those are the winners.  Above Average.  Top Performers.  They get more than a participation trophy, they get the prize money for coming in 1st, 2nd or 3rd.

You can tell alot by observing and listening to the people in these three groups.

At the bottom, there is often a lot of grumbling and blaming someone else or something else for their troubles.  Rarely do these people and their businesses succeed.  They are too busy whining and You Can’t Whine And Win At The Same Time..

In the middle you’ve got those that wish things were better but don’t commit to the changes needed.  Their businesses are built on Hope and Hope Alone.  “If the stars align…” Right.  Similar to the bottom group but at least they have ideas on how to get better.

Those at the top are a different breed.  They are not willing to settle for mediocre.  They don’t want to be average.

Of course there are fewer of these winners than the other two groups but they are also significantly outpacing the others.

And finally when I say, You Can’t Whine And Win At The Same Time, Winners also whine sometimes too.  But they don’t get stuck there and make whining a lifestyle.  Winners push thru the tough times and realize that they are not helpless victims of circumstances.  They adapt, they innovate, they create, they find a way to move forward and don’t let the set backs paralyze them forever.

If you run a business that wants to win and you are in the Fort Wayne, Indiana area, contact me.  I have some marketing wisdom to share.

If you are an individual with a winner’s heart and attitude, contact me too because I am always looking for that kind of person to consider for openings on the WOWO Radio Advertising Sales Team.

Scott@WOWO.com is my email or you can find me online by Googling ScLoHo.

 

3 Ways To Grow

3 Ways To Grow

As owners or managers of a business, it’s our responsibility to not only figure out how to keep our business functioning properly and effectively, but also how to GROW our business.  Staying even or going backward are not options.  Growth is vital!

Growing a business is more complicated than just increasing sales.  Understanding that there are only three ways to grow a business is a great place to start.

1.) Sell more of what you are currently selling.

2.) Sell what you are currently selling for more money.

3.) Add additional product(s) or service(s) to what you are currently selling.

Regardless of how you slice it, nearly everything you can come up with to grow a business will fall under one of these three headings.

We suggest that you look at each area and identify within your business how you might increase your sales.

1. Selling more this year than you did last year isn’t as easy as it sounds and simply opening up your doors and hanging a “We’re Open” sign isn’t the answer. What can you do to get the same people, or new people, to buy more of your products or services?

2. Can you increase prices? If not on every product or service, can you increase the pricing on some of them? Which ones? Identify them!

3.  Adding products or services gets tricky. Think within your business category and then think outside of it. Are there products or services that you can add that won’t distract from or replace your current offerings?

Attracting a customer and getting them to open their wallets can be a difficult and costly process.  But once they’re in your showroom and have their wallets open, an accompanying up-sell is relatively easy.  Once the customer has chosen a new outfit, getting them to consider adding a pair of shoes or belt is relatively easy and it can be a big step towards growing your business.

The formula works regardless of if your business is retail, service, medical, or professional.

If you would like to see a simple worksheet that can help you start the process of utilizing the three ways to grow your business, click here.

6 Lessons Learned From Surviving A Pandemic

6 Lessons Learned From Surviving A Pandemic

Now that we’ve made it this far in a once in a century pandemic, I thought I’d share with you a piece that I wrote for radio insiders.

First, the backstory.

This summer, radio consultant Loyd Ford reached out to me to be a guest columnist on his website that is designed for people in the radio industry.  People who work at radio stations on the air or behind the scenes.  I’ve done both but for the past couple of decades, what I do is not on the radio with the exception of a few ads I voice on WOWO radio where I am the General Sales Manager.

So what I am about to share was written for a very specific niche audience, however I believe you too will perhaps get some insight and ideas for you and your business.

6 Lessons Learned During A Pandemic was first published earlier this month at https://rainmakerpathway.com/free-blog/f/6-lessons-learned-from-surviving-a-pandemic

At the beginning of 2020, none of us thought that Surviving a Pandemic would be on our to do list, but sure enough, it rose to the top of the surprises for the year.

Now that we are in year two and continuing to battle the lingering effects of the Coronavirus that still rears it’s ugly head and will impact the communities we work and live in, I’ve got a few hints on how to move forward, no matter what happens next.

1. Pivot for your people. Pivot was an overused word in 2020, but it was appropriate. We are in the people business, otherwise we would not be needed. When our radio stations needed to allow our air talent to broadcast from home, our engineers made it possible. When our sales and office support staff needed to stop coming to the office and needed some leeway to accommodate kids at home instead of in school, we worked with them instead of being inflexible.

2. Don’t dwell on the past. In Northern Indiana, we saw our weekly revenue reports going from our best ever, to being cut in half, and then negative numbers. Weeks went by with only a fraction of the new business that we had been used to and had budgeted coming in. Instead of getting stuck there, our company made some cuts and also adjusted. When we closed the books on 2020, we finished further ahead than we thought we would when everything hit the fan in March 2020.

3. Create a Plan B, Plan C & Plan D. This is a lesson that I’ve had to relearn and apply more than ever. If you never have to use the alternative plans, fantastic. However the process of creating the alternative plans helped us leap forward and update practices that needed to be revised.

4. Care about your business partners. I gave my sales team the latitude to do what they felt was needed to help their customers. Some got reduced spot rates, some received extra no charge ads. Some had to suspend their ads because they were shut down and had no way to make money. We ran free ads informing our listeners and their customers what was going on. Meanwhile we heard about other local broadcasters that stuck to the letter of the law and refused to help their advertisers because they were trying to hang on to their radio revenue. In the end, the business owners remembered who cared and we have stronger and more robust relationships with them.

5. Adapt to the new ways. Video conferencing was never really on my to do list for 2020, although I was familiar with Zoom because of a client I meet with who does a weekly Zoom meeting with her marketing team across the country. Now video calls are another tool for connecting. In the retail world, they adapted to curb side pick-up and delivery. What ways can we adapt to make life easier for people to do business with us?  We also added an online payment portal in 2020.

6. Follow the Basics. No matter what the circumstances there are basics we need to do every week, like prospect, meet, present, sign, and service. Repeat. Business owners need and want our help to make bring them customers.

Our Guest Expert

Scott Howard is the General Sales Manager of WOWO Radio in Fort Wayne, Indiana, one of 6 local stations owned by Federated Media. WOWO is nearly 100 years old and continues to be both the most listened to station and top billing station in both our company and also in Fort Wayne.

Scott has been with WOWO since 2013 and his background includes sales and management positions in both Indiana and Detroit after starting his broadcasting career on the air and in programming a few decades ago.

Since 2004 Scott has been writing and publishing media and marketing insights every week at https://www.scotthoward.me/and launched the Genuine ScLoHo Media and Marketing Podcast also updated weekly with over 200 episodes under 10 minutes each at https://podcasts.federatedmedia.com/show/scott-howard-media-marketing/

You can find him online by Googling, “ScLoHo” which is his online persona. Besides leading, teaching, training and mentoring the WOWO Local Sales Team, he also is called upon the guest lecture at area colleges and universities annually.

 

Thank you Loyd for the opportunity and I will be contributing to his website regularly in the future.

Friendly Competition

Friendly Competition

“Keep your friends close and your enemies closer” is a sometimes quoted and often misquoted saying that is credited to the book The Art of War from over 4000 years ago and the Godfather Part 2 movie a mere 40 years ago.

While much has been said about that quote, today I’m going to share another personal story about a friend of mine who just passed away this past month unexpectedly and how that quote started off a friendly competition that became a true friendship and mentorship for nearly two decades.

I’ll conclude with some lessons and wisdom for you to apply to your life and business.

This friend of mine is Ron Latham.

I thought I first met Ron in 2003.  I’ll explain more about that in a moment.

In 2003, I was returning to the world of media and marketing to join a group of radio stations in Fort Wayne, Indiana.  Travis Broadcasting was their company name which a year later became the Summit City Radio Group.  Ron was one of the older salespeople in his early 60’s and I was in my early 40’s.  Ron was very competitive and instead of just being boastful, he went out and beat his competitors.

As one of 6 new salespeople that started in early 2003, he didn’t really pay attention to me or the rest of us, he just went out and did his thing while we did ours but I later learned, he took pride in being the best each month.

About a year after I started, management held a sales meeting and announced new goals and budgets for each of us.  When the meeting adjourned, as we were all walking back to our offices, most of my coworkers were unhappy, including Ron.  I asked him, what’s wrong and he told me over his shoulder, “I don’t care about their stupid goals, I have my own that are higher than those.”   I responded, “I just have one goal.”

Ron stopped walking and turned around and said with a little snarl, “Yeah, what’s that?”

I told him, “To beat you.”

That lit up his eyes with a competitive spirit that said, “Game On.”  We made a little side wager, loser would have to buy lunch at the end of each month.

Ron hated to lose, and I did too, but I’ve been what I call “quietly competitive”.  Cool and calm on the outside, but a fighter just below the surface.  Over the next several months, this lunch wager was fun.  We compared billing and the first month I won.  Probably shocked the old guy that someone like me was able to beat him at something he’d been doing for 40 years.

“Anyone can get lucky for a month,” he said as we ate that first lunch that he paid for.  The competition continued.  Month two, he got his revenge and I bought lunch.  Month three and month four came and went and I won those two months. Then it was his turn to be on top for a month while I got a free lunch the month after that.

Within 6 months a new found respect and friendship developed out of this friendly competition and while I believe I beat him by at least one month before we stopped, everyone really won.  Ron’s billing grew to new heights, as did mine and we helped a bunch of local businesses with their advertising and marketing.

Ron decided to leave those radio stations when they did some programming changes that wiped out a big chunk of his monthly billing and income, but he was a wanted man, in a good way.  He had offers to sell advertising at other places including the monthly Hispanic newspaper.  That’s a story in itself.

The publisher of the Hispanic newspaper, Fernando met Ron and did a Spanish Language weekend radio show which expanded to 7 nights a week.  The programming changes I mentioned cancelled Fernando’s radio show, however Ron joined forces with Fernando and became the Gringo Sales Manager for the Hispanic paper.  See, Ron couldn’t speak a lick of Spanish, and didn’t want to learn.  But he saw the opportunity for mainstream businesses to advertise in the paper and invite the Hispanic community to spend their money in their stores.

After Ron turned 65, he moved to California for about a year with family but couldn’t stand it and returned to Fort Wayne.  Ron had an apartment in the same historic high rise that the Hispanic newspaper was located and the paper was Ron’s main gig.  It didn’t pay a lot he said but it was his “buttered popcorn money”. He and some of his older buddies would get tickets to the local college football games in the fall, Komets hockey in the winter and Tincaps baseball in the summer.

Ron was always a huge sports fan and basketball was his main game.  However he also took up golf and other activities to stay in shape.

In 2013 I joined WOWO radio.  I learned that the WOWO radio sales team had a tradition of taking a day off in the summer to go golfing. The only golf that I knew was miniature golf so Ron offered to teach me and once or twice a week we’d spend an evening at the golf course using some passes he traded for advertising in the Hispanic newspaper.  When the big event came that summer, I wasn’t the worst, but we quickly played “best ball” to keep the game moving.  My golf skills have only gotten worse since that first year and I never was able to beat Ron.

I did beat him bowling a few times and miniature golf too.

Remember the lunch wager I mentioned awhile ago?  When Ron returned from California, he and I started a new tradition of a weekly lunch without the wager since we worked for two totally different forms of media.

Over the nearly two decades that we were friends, I learned a lot from Ron.  He started out as a bit of a mentor to me.  We explored ideas and brainstormed.  If I had a client that I needed some extra input on, Ron was a great person to bounce my idea off of.  And it turns out, he did the same with me.

My step-daughter who is now in her 30’s was on the girls basketball team in high school and Ron’s wife at the time was the head coach for another girls team in town, one that won multiple championships.  I learned a lot about the game of basketball too from my friendship and conversations with Ron over the years.

I noticed over the past year that Ron was slowing down a little bit, as all of us were forced to live our lives differently with the onset of the Covid-19 Pandemic that shut down so many things including all the sporting events that Ron would have normally been doing.  He and I continued our nearly weekly lunches when the world began opening up, even if it meant a trip thru the drive thru and sitting in a parking lot “socially distanced” in our own cars.

March 4, 2021 was the last lunch we had together.  He turned down the opportunity I offered him to return to his beloved WOWO Radio as a part-time, “free lance” salesperson.  WOWO was where he started his advertising career 60 years earlier.

A week later, he contacted me in the middle of the night with a plea for help. It was a few days after he had contracted the shingles virus in his ear and the constant pain was making it impossible to get any rest.  I went to his home, contacted medics who took him to the hospital and the last time I saw Ron was when I visited him in the Emergency Room to deliver his phone.  The medical staff were assessing his situation and over the next two weeks discovered some other undiscovered health issues that ultimately made it impossible for him to recover.  His only son was allowed to be with him in Ron’s final day since the hospital was abiding with the strict precautionary protocols brought on by the current pandemic.  That was the only person outside of the medical team who got to see Ron after I saw him in the ER a couple weeks prior.

I found three pictures to share of Ron and myself.  The first was from 2009, when he and I were in our weekly lunch routine while working for different media companies,  I think he was scowling at me having another hot dog or something.

The middle picture was snapped in 2004 about the time we were in the middle of our friendly lunch wager competition at a basketball tournament that our radio stations were sponsoring.

And the last picture was a shocker to both Ron and myself.  When he was preparing to move to California, they were downsizing and Ron found a box of old pictures from the 1980’s.  Turns out we did NOT meet in 2003.  We actually played basketball on the WMEE Basketballer’s team. This picture from 1982 features a gangly radio disc jockey named Scott Howard whose only qualification to be on the team was I was the night time WMEE radio disc jockey, sitting next to a much better basketball player named Ron Latham who was a ringer for our team so we wouldn’t be entirely embarrassed when we went out to play in charity games.

With the passing of my friend who was 18 years my senior but we developed a friendship like brothers, I have some lessons to pass on.

  1.  Friendly Competition can be life changing.  While you may view your competition as the enemy because they are going after the same customers you are, that’s just an illusion.  You and your competition are different in ways that may not be obvious. Those differences is what is likely going to determine who the customer buys from.  Learn from each other and you’ll both be better. In the fast food world, some people prefer a flame broiled Whopper while others prefer a Big Mac.  Apply that to what you do too.
  2. Mentor One Another.  Just as I learned from Ron when he and I started working together in 2003, he was also learning from me over the years.  I recall a comment he made 10 years ago about how he could never do things my way because we just thought differently.  But we both used the other persons strengths to improve ourselves.  Today, I have 5 very different people on my advertising sales team at WOWO radio.  They are doing the things that Ron and I would do in bouncing ideas back and forth and mentoring each other.  How can you develop that in your world?
  3. Get Personal.  When you make it all about business or competition, you lose out on the human side of competition.  Do you know the names of your competitors family members?  Do you ever hang out with them?  If something were to happen to you, could you reach out to them for help?

Thanks for indulging me today with this reflection of my nearly 2 decades of friendship with my adopted older brother, Ron Latham that I disguised as some lessons for all of us in what can happen with a little Friendly Competition.

Compare With Caution

Compare With Caution

Comparing one product or service or one business to another is always acceptable… when you are the consumer. 

But as a business selling itself, comparing comes with caution!  Make sure you’ve given deep consideration before you compare your product or service with your competition!  

This word of caution holds true whether you are making a comparison in your advertising message, or communicating face to face with a customer. 

Think back to the last time a salesperson was comparing his or her company, product, or service to their competitors’. If they went too far and made unsubstantiated claims, degraded the competition or its people, it can easily backfire. Instead of gaining confidence in the product, service, or company, they may end up losing credibility and therefore the sale.

In our Do’s and Don’ts of Comparative Advertising many of the rules that apply in advertising also apply when selling person to person. 

This applies to major companies as well as small local businesses. In the famous  “Get a Mac” advertising campaign, Apple gave great consideration to the possible retaliation that the PC manufacturers could re-attack with.  If you are ever considering comparing your business to another, you should too.

Like dynamite, comparative selling and advertising can be a very powerful strategy, but it can also blow up in your face. 

Proceed with Caution!

To see the complete list of the Do’s and Don’ts of Comparative Advertisingclick here.

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