Friday, February 1 at 3 p.m. EST
 |
| |
Robert H. Bloom has discovered that every enterprise has at least one strategic asset-one existing strength-that can form the foundation for future growth. He calls this an Inside Advantage. This strength usually lies unrecognized in an activity the business is currently performing or in a concept or an idea that the business already owns. Finding this hidden potential and becoming well known for it will grow the business.
This strategy reflects Bloom's 45 years of experience in growing businesses and brands of every size and type, including famous companies such as Southwest Airlines, T-Mobile, T.G.I. Friday's, Zales, Nestlé, and L'Oréal, as well as not-so-famous B2B firms, not-for-profit organizations, and start-ups. Now, through his Growth Discovery Process, he is making his strategy available to all people who know their craft but don't know how to craft a growth strategy.
Bloom's process is a plain-language path of discovery with only four steps. Whether you are a business leader, a manager, or an entrepreneur, this Growth Discovery Process will enable you to gain a profound insight into the core values of your enterprise. It will guide you to a clear understanding of who your customers are and what your special offerings to those customers should be. Finally, the process will stimulate a host of ideas-what Bloom calls Imaginative Acts-for highlighting your Inside Advantage and making it well known to current and prospective customers.
Doing what you're good at and doing it better than anyone else will create growth. The Inside Advantage will help you capture that magic moment when customers will select your product or service over those of your competitors.
Robert Bloom joined us on Friday, February 1st for our first segment in the BizBooks Series. Read the transcript of the conversation below.
BizBooks: Good afternoon BizBox readers,
Welcome to the first segment in the BizBooks Ask the Expert Series. Today with he have with us author and entrepreneur Robert Bloom.
As US Chairman and CEO of Publicis Worldwide, he helped craft and implement the growth strategies of some of the world’s largest companies and brands. Now, through his Growth Discovery Process, he is making his strategy available to all people who know their craft but don't know how to craft a growth strategy.
Welcome Robert, let's get started.
Robert Bloom: Thanks! Let's discuss how to unlock the hidden growth in your business.
Read The Inside Advantage and start kicking now.
_______________________
Washington, D.C.: I would like to break out, leave my current company and start my own gig. Using your strategy, where should I begin?
Robert Bloom: All start-ups require two elements to assure sustainability:
1) adequate working capital for 3-5 years.
2) an ambitious but realistic strategy. My book concentrates on strategy.
Begin by securing your capital and then use The Inside Advantage to define your strategy.
_______________________
Arlington, Va.: The company I work for is all over the place with multiple product lines and try to be all things to all people. This multi-personality strategy I feel is preventing us from finding success. Any recommendations?
Robert Bloom: Your company needs a sound growth strategy. My recommendation is that you put a copy of The Inside Advantage on the desks of your senior management team.
_______________________
Raleigh, N.C.: If you could boil your strategy down into "Cliff-Notes", how would you do so?
Robert Bloom: WHO is your core customer?
WHAT is your uncommon offering?
HOW will you differentiate your business from all competitors?
OWN your uncommon offering make it well known to your Core Customer.
_______________________
Arlington, Va.: Good afternoon Robert,
Are your techniques applicable to self-run businesses as well? I am a real estate agent and have been in the business for 10 years. Lately I just feel that I need a kick start. Thanks!
Robert Bloom: My Growth Discovery Process has proven to work for any type – any size business. You must be the driving force of your “kick-start”. Read The Inside Advantage and start kicking now.
_______________________
Chicago, Ill.: With new technologies and blogging, it has become even easier to communicate and learn from your customers. Do you have any examples of companies doing it right?
Robert Bloom: The key to 'getting it right' is strategy, not communications. Steve Jobs gets it right because he has a brilliant strategy, not because he communicates well.
_______________________
Houston, Tex.: Was there an "a-ha" moment for you with this strategy where it all seemed to click?
Robert Bloom: My first "a-ah" was when it worked for my small business. The Inside Advantage describes this and many other "a-ah" moments like my ad agency's launch of Southwest Airlines and the T-Mobile brand.
_______________________
San Diego, Calif.: I lead a customer service team in a medium sized technology company. I feel that our group needs a kick start and your experience intrigues me. What is the best way to approach my group with your method without causing dissension?
Robert Bloom: Give a copy of The Inside Advantage to each member of your group.
Schedule a meeting two weeks later to discuss the book’s practical, plain language approach to generating consensus for your customer service team.
“Customer” is the most important word in your group’s name. Kick start your growth by delivering the most valuable customer experience in your competitive set.
_______________________
New York, NY: Can your growth strategies work with a small, 10 person IT consulting firm?
Robert Bloom: My Growth Discovery Process has proven to work for any size or type business. Every business has an undiscovered or underutilized strategic asset inside it that can be used to generate growth. I recently helped a not-very-big software services firm discover its inside advantage.
Learn about this firm by clicking www.insideadvantage.org
_______________________
Boston, Mass.: I have read many business self-help books before, can you help me understand what makes your so different?
Robert Bloom: My book is written by an successful entrepreneur and career strategist - it contains a process that's been proven in the marketplace - there is no theory or consultant-speak. My cases illustrate my direct experience with companies I've worked with. My process has four easy to understand simple steps.
_______________________
Arlington, Va.: Are you planning a follow up to the Inside Advantage?
Robert Bloom: Not at this time as The Inside Advantage was just published three months ago.
_______________________
Atlanta, Ga.: Do you feel that your strategy can speak to bloggers and those who just run websites? (Those that are not selling a true product)
Robert Bloom: The Inside Advantage is full of examples of services (like sites and blogs) that discovered how to grow by using my GDP.
_______________________
Washington, D.C.: Good afternoon Robert,
I am a government employee and wonder if your techniques and strategy can translate to government-run departments and businesses?
Robert Bloom: My Growth Discovery Process is business size and type agnostic. Governments have customers who need and want services that offer benefits to them - tangible benefits as well as emotional benefits. Your organization must understand that “customer” is the most important word in their vocabulary.
_______________________
New York, NY: Do you feel that the strategy can be effective if in fact you have multiple lines of core customers?
Robert Bloom: My Growth Discovery Process (GDP) has been used successfully on many occasions to create a strategy for a business that has multiple products, services or brands. There are specific examples in The Inside Advantage.
_______________________
Atlanta, Ga.: Can you help me understand what you mean when you say that there's no such thing as a commodity?
Robert Bloom: Commodities exist only because the firm has allowed its company to become a commodity. Read my book for a great illustration of a B2B company - SKF - pages 117-8 that has become a world leader by taking the right steps to avoid remaining a commodity.
_______________________
Arlington, Va.: Is there a company out there right now that you feel could user your expertise?
Robert Bloom: Far, far too many companies need and would benefit from my Growth Discovery Process. Here a just a few big ones that are struggling rright now - FORD, DELL, Yahoo, Starbucks. There are a lot of small ones who have even morer urgent need.
_______________________
New York, NY: Have there been any instances where companies have met your strategy with resistance? And if so, how would you overcome this?
Robert Bloom: It's only normal that in this time of over-hype, people are skeptical of something as profoundly simple as WHO, WHAT, HOW, OWN IT!. Too many business books are filled with complex theory and complex advice. The Inside Advantage provides no theory and no advice - it delivers a process that's proven to work for every size and every type business.
_______________________
New York, NY: The company I work for has been suffering for quite some time with faster and more efficient competitors who seem to always have a jumpstart on the market. Can your strategies help pull us from #4 to #1?
Robert Bloom: My Growth Discovery Process will define a sound strategic framework for your business. The strategy is a road map – it enables and empowers growth. That is its job. Your job is to use this strategy to “pull” your firm from #4 to #1.
_______________________
Boston, Mass.: Can you describe your toughest client? (without naming names of course)
Robert Bloom: There are no easy clients and no easy solutions. My process - while only 4 steps - is very hard work. Read the book - there are 4 examples of actual work that demonsstrate the hard work that's involved.
_______________________
New York, NY: I run a company that has been around the block a few times and feel like we have lost our inside advantage? Where should I begin?
Robert Bloom: Begin by reading The Inside Advantage cover to cover. Then put it on the desks of the top dogs in your firm. If they don't read it or act on it, they deserve to keep going around the block.
_______________________
Arlington, Va.: How can I help my small business stand out?
Robert Bloom: Small biz or big biz - the answer is identical. Start by defining your Core Customer (Part One of The Inside Advantage), then define your Uncommon Offering (Part Two), then define your Persuasive Strategy that differentiates your firm (Part Three), then create a series of Imaginative
Acts that will make your Uncommon Offering well known to your Core Customer (Part Four). Then you will own and leverage your Inisde Advantage.
_______________________
Atlanta, Ga.: What are some of the biggest mistakes that you see companies make when trying to adopt this strategy? What should we be on the look out for?
Robert Bloom: Thinking that it's easy - it is simple, but hard work. Using cliches and jargon and ad slogans instead of real words that are specific and have meaning and are understable. Fudging on the truth and creating something that's unaffordable. My process is not about re-engineering - it's about discovering an underutilized or undiscovered exisiting strategic asset you aleady own.The book has FAQs in each Part that will help you overcome most problems.
_______________________
Chicago, Ill.: My company has built a product and is now searching for a market to fill that product. This obviously is not the right way to go. Should we scratch our product and start over?
Robert Bloom: Start with the customer as The Inside Advantage explains.
Try to define the Core Customer that wants and needs your product. Work hard at this to make sure that there is a vivid desciption of this customer and that they really exist in enough quantity to buy lots of your products at the price point you can offer it.
_______________________
San Diego, Calif.: Do you have any tips on how to get to know your customers better?
Robert Bloom: The book is filled with tips, actual examples, and real life illustrations of ways to know your customer. One is to create a vision of the customer im your head so you can almost see and talk to that person. Read Part One of The Inside ASdvantage.
_______________________
Chicago, Ill.: What are some strategies that would help get our entire team on board and buying into the strategy?
Robert Bloom: The entire team MUST be in the room when the strategy is created. Read the 4 actual examples of the process in the works. There is know way better way to achieve consensus and buy in than having the team there when the strategy is created by them.
_______________________
BizBooks: Looks like that's all the time we have for today. Thank you Robert for taking the time to answer our questions. And thanks to everyone for joining us.
Robert Bloom: Thanks! Start unlocking the hidden growth in your business by discovering your firm's Inside Advantage today.
Go to www.insideadvantage.org
_______________________
