The definition of insanity is repeating the same thing over-and-over and expecting different results. It’s a powerful line. Catchy, cutting and also wrong. Yet there’s a lot to be learnt from it, especially when considering how your company’s behaviour reflects its vision. First, let’s clear-up that line on insanity. Despite being forever linked to great thinkers such as Einstein and Mark Twain, it only first appeared in the 1984 mystery novel Sudden Death. For those interested, insanity is no longer recognised in the medical profession. It in fact only stands in legal circles, to explain not being able to distinguish fantasy from reality when discussing court proceedings.
In 1860, Robert O’Hara Burke and William John Wills set off from Melbourne, heading north to explore the Australian interior. It had taken them three years to raise funds for and awareness of the expedition, during a gold rush. Neither had the faintest sense of bushcraft; their “essential supplies” included a cedar-topped table and chairs, rockets, flags and a Chinese gong. They broke down on the first day, took until midnight to reach the suburbs of Melbourne, and - to cut a long story short - their expedition was a disaster from which neither of them returned.
Staff turnover is part of any business, but SME owners understand that once you have a team of people who work well together to deliver the objectives of the business, it makes good sense to ensure you keep them employed within the business.
We’ve already looked at lead generation (and how it’s not the be all and end all of marketing) and big ideas (which are useless without informed predictions to back them up). In the latest instalment of Marketing Mythbusters we’re looking at one of the biggest misconceptions around - Return on Investment. To put it bluntly: too many business leaders believe marketing is nothing but a cost, an expense that doesn’t pay off in real terms.
After a year or ten at the helm of your business, you’re wondering where to go next. What was a challenging, rewarding experience with new leads and new products every quarter has become a grind. You’re putting in the hours, but where’s the payoff? You have an exit plan, but how do you get there?