Your success could be your downfall
While interviewing a certain Company A one day, the colleague and me heard from its CEO an account of how he was trying to set up Blackberry accounts for his managers.
He said he had approached Telco S for help to set up those accounts, which then told him to fill in some forms downloaded off its website. He then called Telco M, which immediately sent a representative down to his office to discuss the company's needs.
Needless to say, Telco M got his business. It also got one of the CEO's counterpart's business.
Telco M is a relatively small player in the mobile field, compared to Telco S.
Company A's public relations advisor offered that Telco S' focus was probably not on Singapore, but on regional expansion.
Even if that is the case, Telco S sure isn't doing itself any favours by giving would-be clients the impression that their business doesn't matter.
The moral of the story is: Remember where you came from, and try to stay grounded at all times.
First, companies should always remember who their customers are.
It's just like how American Idol Kelly Clarkson would remember how she got her big break – by public votes (not that I know if Kelly Clarkson is actually that grounded).
Second, never turn away business, even if it seems like it'll do nothing to enhance your portfolio. Word of mouth is a very powerful marketing tool. So if you turn a seemingly small fry away and he complains to his godfather of a well-known venture capitalist with major contacts, you're as good as fried.
So try to stay grounded even if your business is scaling heights like never before, or at least try to act like you aren't that taken by the bright lights.
On a side note, if Telco S continues to be this complacent, it would soon find the carpet being pulled from under its feet. Without its competition even trying to outdo it.
Serene Lim
He said he had approached Telco S for help to set up those accounts, which then told him to fill in some forms downloaded off its website. He then called Telco M, which immediately sent a representative down to his office to discuss the company's needs.
Needless to say, Telco M got his business. It also got one of the CEO's counterpart's business.
Telco M is a relatively small player in the mobile field, compared to Telco S.
Company A's public relations advisor offered that Telco S' focus was probably not on Singapore, but on regional expansion.
Even if that is the case, Telco S sure isn't doing itself any favours by giving would-be clients the impression that their business doesn't matter.
The moral of the story is: Remember where you came from, and try to stay grounded at all times.
First, companies should always remember who their customers are.
It's just like how American Idol Kelly Clarkson would remember how she got her big break – by public votes (not that I know if Kelly Clarkson is actually that grounded).Second, never turn away business, even if it seems like it'll do nothing to enhance your portfolio. Word of mouth is a very powerful marketing tool. So if you turn a seemingly small fry away and he complains to his godfather of a well-known venture capitalist with major contacts, you're as good as fried.
So try to stay grounded even if your business is scaling heights like never before, or at least try to act like you aren't that taken by the bright lights.
On a side note, if Telco S continues to be this complacent, it would soon find the carpet being pulled from under its feet. Without its competition even trying to outdo it.
Serene Lim
Labels: downfall, listed companies, Singapore, success
The CEO Blog
Start a blog.
Yes, that's the big, bold statement I'm pushing out today.
Companies (even those with corporate communication departments) often whine about not being able to reach out to their investors, which usually comes about after their shares don't do too well and interest in their stocks wane.
They then hire big name investor relations agencies and hold some glitzy events to try to endear themselves to the public.
Considering how much capital goes into such reactive efforts, it would really be way cheaper and proactive to START A BLOG.
Here's why:
One of investors' main gripes is that management is always inaccessible. This means they can only rely on things like media reports and the occasional Q&A session (which, by the way, is not done by most companies) for their information. Even then, management still just comes across as a group of boardroom old farts who are too uppity to speak to the common people, and not living, breathing human beings like you and me.
Now, if the chief executive of listed company AWEFULLY CHOCOLATE (something I made up on the fly) were to start a blog and writes about his work, his encounter with a homeless guy on the street and the kind of music he listens to, wouldn't that make him that much more human? He could even throw in how he felt about that last deal he did with Hershey's.
By putting yourself out there and showing existing and potential shareholders how normal you are, you may get less flak when you have to take the week off to take care of your sick kid.
A good example of such a blog would be Fred Wilson's. He's an American venture capitalist and managing partner of Union Square
Ventures.
In an interview with Business 2.0, Wilson says he plays music for his readers and shows them videos he likes. He even tells them what he did over the weekend.
“And it works. About 50,000 people come to by blog every month. The site brings in about $30,000 a year now in ad revenue, and I donate it all to charity. Most important, I'm getting to know entrepreneurs of all kinds – in India, Australia, England, China, and Silicon Valley.”
He adds that his blog “acts as an amplifier and a filter”.
“I see many more opportunities, but they are also way more relevant. It makes me a better investor.”
So looking at how Wilson does it, a blog is more than just for your shareholders. It is also for you and your business. And it doesn't cost anything to start one.
Of course, one could argue that blogging appears less formal, and therefore, less credible.
But looking at how the people around me read their daily news and blogs all on one page on a news aggregator, I'd say formality really doesn't matter.
I'd really prefer to see a human running AWEFULLY CHOCOLATE, not just some airbrushed, photoshop-ed picture of a man in glasses called a CEO.
Looking forward to your comments. =)
Serene Lim
*images courtesy of avc.blogs.com and dilbert.com.
ArchivesYes, that's the big, bold statement I'm pushing out today.
Companies (even those with corporate communication departments) often whine about not being able to reach out to their investors, which usually comes about after their shares don't do too well and interest in their stocks wane.
They then hire big name investor relations agencies and hold some glitzy events to try to endear themselves to the public.
Considering how much capital goes into such reactive efforts, it would really be way cheaper and proactive to START A BLOG.
Here's why:
One of investors' main gripes is that management is always inaccessible. This means they can only rely on things like media reports and the occasional Q&A session (which, by the way, is not done by most companies) for their information. Even then, management still just comes across as a group of boardroom old farts who are too uppity to speak to the common people, and not living, breathing human beings like you and me.
Now, if the chief executive of listed company AWEFULLY CHOCOLATE (something I made up on the fly) were to start a blog and writes about his work, his encounter with a homeless guy on the street and the kind of music he listens to, wouldn't that make him that much more human? He could even throw in how he felt about that last deal he did with Hershey's.
By putting yourself out there and showing existing and potential shareholders how normal you are, you may get less flak when you have to take the week off to take care of your sick kid.
A good example of such a blog would be Fred Wilson's. He's an American venture capitalist and managing partner of Union Square
Ventures.In an interview with Business 2.0, Wilson says he plays music for his readers and shows them videos he likes. He even tells them what he did over the weekend.
“And it works. About 50,000 people come to by blog every month. The site brings in about $30,000 a year now in ad revenue, and I donate it all to charity. Most important, I'm getting to know entrepreneurs of all kinds – in India, Australia, England, China, and Silicon Valley.”
He adds that his blog “acts as an amplifier and a filter”.
“I see many more opportunities, but they are also way more relevant. It makes me a better investor.”
So looking at how Wilson does it, a blog is more than just for your shareholders. It is also for you and your business. And it doesn't cost anything to start one.
Of course, one could argue that blogging appears less formal, and therefore, less credible.
But looking at how the people around me read their daily news and blogs all on one page on a news aggregator, I'd say formality really doesn't matter.
I'd really prefer to see a human running AWEFULLY CHOCOLATE, not just some airbrushed, photoshop-ed picture of a man in glasses called a CEO.
Looking forward to your comments. =)
Serene Lim
*images courtesy of avc.blogs.com and dilbert.com.
Labels: blog, business 2.0, CEO, fred wilson, listed companies
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