Ever have one of those days (or weeks) when you just felt like sticking your head in the sand? I love a good challenge and embrace the opportunity to learn from every scenario presented to me. But I have no patience for people who don’t practice a high standard of business ethics and morals.
In this month’s blog, let’s talk about why shared business values are so critical in selecting your partners, clients, customers and anybody with whom your business interacts.
Beth
I admit it, I’m a bit of a domain hoarder. In fact, I own over three dozen domains. I’m a marketer still plagued by the fact that I didn’t buy marketingedge.com in time. So now whenever an idea for a product or service pops in my head, I check to see if the domain is available…and buy it. They automatically renew, so oftentimes I forget I own them – which can create issues….
Recently, an organization that I did business with a few years ago decided that they should be the legal owners of a domain that I bought in 2008. This is a group to whom I had donated hours and hours of my time to help them create their product.
Instead of picking up the phone to call and ask me to transfer the domain to them, the head of this non-profit organization hired a lawyer (who I presume works pro bono) and sent me a certified letter DEMANDING that I turn over the domain to them.
As a small business owner getting a letter from a law firm via certified mail does not constitute ‘a great day.’ I turned to two different legal experts for advice and spent hours piling through contracts since I needed to know my rights. Frankly, I was shocked. If you’ve done any work with me, you know that I am a huge supporter of small businesses (for profit and non-profit). It’s simply not part of the ethical business standard that I follow to try to cause harm or disrupt the operation of any other organization. I won’t get into the legal issues here, but both lawyers assured me that I had not done anything wrong and could not be held liable. Nonetheless, I spent days dealing with this before I spoke to the organization’s president.
What was most surprising and what I wanted to know was why she decided to hire a lawyer rather than simply calling me. Her response? It was easier to hire the lawyer. REALLY? When did hiding behind lawyers become the easiest way to handle conflict... especially when one party doesn’t even know that conflict exists.
A simple call would have been more than sufficient to resolve the issue. I would have given her the domain had she just asked. Instead, this non-profit organization forced me to hire my own legal experts to confirm my rights.
In the end, I have agreed to give them the domain because I still believe in the stated mission of the organization and it is the right thing to do. But I’m disappointed (no, horrified) by this organization’s actions against me and by the fact that their stated mission to support small business owners somehow did not extend to me.
Contrast this recent domain-name trouble with an earlier one. About a year ago, I received a call from an organization that was running a national event called The Small Business Tour. They were using the domain name: thesmallbusinesstour.com and contacted me because I owned SmallBusinessTour.com (which, at the time, automatically directed to my website m-edge.com). It was causing confusion amongst individuals who wanted to register for their tour. They were interested in purchasing the domain from me.
The woman who called me was terrific and we had a great exchange about our business models and goals and quickly recognized that our missions intertwined. She asked me if I would be interested in being a speaker and sponsor for the “Tour.” To make a long story short, I pointed my site to their site (it’s still pointed there) and also got involved with the event. It was a win-win and they are great people whom I totally respect.
Both of these incidents raise the question: Should goodwill be a core value of a business or organization?
Where do YOU draw the line for what constitutes right and wrong in terms of ethical and honorable business practices?
Please email me your thoughts on this compelling issue and, as always, I look forward to being inspired by what you have done to propel your business forward
I haven’t slept well over the past few weeks plagued by a ‘Go – NO Go’ decision over a major contract that was certain to have a huge impact on my business and my personal life. Why is walking away ALWAYS so darn hard, even when you know it’s the right decision?
A few years back I was involved with helping a non-profit organization create a curriculum for a program to educate inner city businesses throughout the U.S. They ran the program through the SBA and now, in its fifth year, the program is offered in almost 30 cities. The contract with the SBA to run the program recently became available for bid and boy, did I want it. I really, really wanted it (did I mention that I wanted the contract?).
The current program is excellent and I have a lot of respect for the organization running it but, like every entrepreneur, I was (and still am) confident that I could make it even more effective in terms of its economic impact on urban businesses. I’ve run a variety of uniquely designed business accelerator programs since then for a number of organizations engaged in helping small business owners grow, including the state of Massachusetts. So taking the lessons learned, I am totally confident that I could deliver one heck of a program. So, what’s the problem? Why not go for it?
Well, honestly I wish it wasn’t such a complicated decision but the bottom line is, I don’t currently have the business model nor infrastructure required to effectively run the program in so many cities (30 simultaneously). My fear is that running a program of that scale would either destroy my current business model or my mental stability or both. The thought of not sleeping for an entire year is not very appealing. Have you been in a similar situation where you really (REALLY!) wanted to do something but your gut told you, Stop and evaluate what this will mean in terms of your business and your life? It’s akin to a chef who loves to cook opening a chain of restaurants across the country all at the same time. She might be able to handle running one (although preparing amazing meals and running a business are different) but a chain, I don’t think so!
Welcome to Biz-Edge where we answer YOUR business questions. In the ninth of the Summer 2012 Series, I address a question about understanding who your competitors are, even when they don’t look nor act exactly like you.
Competitors don’t always offer the same product as you do. Therefore, in understanding and clearly defining who your competition is, it’s critical to think of them in terms of the solution they provide because that’s what you will end up competing on. Watch how I respond to a question about defining competition to grow a business.
Have a question about business growth? Here’s your opportunity to ask questions about business challenges you face so you can gain an EDGE in business. Plus, hear advice that we’ve given other small business owners and entrepreneurs to help them make bold leaps forward. Complete the form at the Biz-Edge Website andI will try my best to answer it via video.
Welcome to Biz-Edge where we answer YOUR business questions. In the eighth of the Summer 2012 Series, I address a question about how to best gauge interest in a new product.
Market research is not just an option for large businesses. If you are thinking about launching a new product, it’s critical to gauge customer interest before you release it, to ensure the best outcome. Watch how I respond to a question about how small businesses can learn more about their customers’ needs.
Have a question about business growth? Here’s your opportunity to ask questions about business challenges you face so you can gain an EDGE in business. Plus, hear advice that we’ve given other small business owners and entrepreneurs to help them make bold leaps forward. Complete the form at the Biz-Edge Website andI will try my best to answer it via video.
Welcome to Biz-Edge where we answer YOUR business questions. In the seventh of the Summer 2012 Series, I address a question about the importance of aligning customer perception with reality to secure a solid brand.
Branding is all about the customer experience and perception IS reality. Watch how I respond to a question about the challenges and danger of misaligning one’s brand/value promise with what the customer actually experiences when they interact with a business.
Have a question about business growth? Here’s your opportunity to ask questions about business challenges you face so you can gain an EDGE in business. Plus, hear advice that we’ve given other small business owners and entrepreneurs to help them make bold leaps forward. Complete the form at the Biz-Edge Website andI will try my best to answer it via video.
Welcome to Biz-Edge where we answer YOUR business questions. In the sixth of the Summer 2012 Series, I address a question about the importance of setting goals as it relates to business success.
Research proves that if you set very specific goals (SMART ones), your chances of achieving them increase significantly. Watch how I respond to a question from one of the entrepreneurs participating in a business growth program that I teach in Massachusetts who wonders if it’s really worth his time to set goals.
Have a question about business growth? Here’s your opportunity to ask questions about business challenges you face so you can gain an EDGE in business. Plus, hear advice that we’ve given other small business owners and entrepreneurs to help them make bold leaps forward. Complete the form at the Biz-Edge Website andI will try my best to answer it via video.
Welcome to Biz-Edge where we answer YOUR business questions. In the fifth of the Summer 2012 Series, I address a question about the importance of physical business cards in the networking process.
With the prevalence of technology engrained in almost everything we do, is it time to get rid of physical business cards and begin using a v-card?. Learn how I responded by watching this week’s video.
Have a question about business growth? Here’s your opportunity to ask questions about business challenges you face so you can gain an EDGE in business. Plus, hear advice that we’ve given other small business owners and entrepreneurs to help them make bold leaps forward. Complete the form at the Biz-Edge Website andI will try my best to answer it via video.
Welcome to Biz-Edge where we answer YOUR business questions. In the fourth of the Summer 2012 Series, I address a question from a reader of my Small Business Growth & Innovation Newsletter about the role of luck in business.
Are you seizing lucky business opportunities? I’m often asked why I wrote about the role of luck in business. It turns out lucky business owners (defined as those whose businesses are growing) are actually engaged in different business activities than folks who are simply working hard (but not able to seize lucky opportunities). Learn more about what these activities are by watching this week’s video.
Have a question about business growth? Here’s your opportunity to ask questions about business challenges you face so you can gain an EDGE in business. Plus, hear advice that we’ve given other small business owners and entrepreneurs to help them make bold leaps forward. Complete the form at the Biz-Edge Website andI will try my best to answer it via video.
Welcome to Biz-Edge where we answer YOUR business questions. In the third of the Summer 2012 Series, I address a question from a reader of my Small Business Growth & Innovation Newsletter about perfecting your elevator pitch.
When was the last time you worked on perfecting your elevator pitch? At the heart of every business’ success story is their ability to convey their value proposition succinctly and clearly to key stakeholders. If you haven’t worked on perfecting your elevator pitch, now is the time to do so if you want to accelerate growth. Watch this week’s video to discover tips on perfecting your pitch and check out my Elevator Pitch Template at my website (m-edge.com) to start today!
Have a question about business growth? Here’s your opportunity to ask questions about business challenges you face so you can gain an EDGE in business. Plus, hear advice that we’ve given other small business owners and entrepreneurs to help them make bold leaps forward. Complete the form at the Biz-Edge Website andI will try my best to answer it via video.
Welcome to Biz-Edge where we answer YOUR business questions. In the second of the Summer 2012 Series, I address a question from a reader of my Small Business Growth & Innovation Newsletter about outgrowing your business model.
Have you adjusted your business activities to reflect the growth of your business? As our businesses grow, a common challenge that many owners face is their inability to change their role in the business. If you’ve been wearing every hat to grow your business to its current stage and that’s not working for you any longer, watch this week’s video for some tips on how to make changes that will get you to the next level!
Have a question about business growth? Here’s your opportunity to ask questions about business challenges you face so you can gain an EDGE in business. Plus, hear advice that we’ve given other small business owners and entrepreneurs to help them make bold leaps forward. Complete the form at the Biz-Edge Website andI will try my best to answer it via video.
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