Word From Our CEO: More Energy = More Money

To quote a recent tweet by author and success coach T. Harv Eker, “A lot of money takes a lot of energy!” While the blog post linked from his tweet goes on to talk about one interpretation of this statement (more on that in a minute), I thought of it in a different light. I am of the strong belief that business owners and managers MUST have a ton of energy and be willing to use it every day in order to see their business succeed. What’s more than that, you should WANT to spend that time and energy on your business.

Using myself as an example, I write this piece from my hotel room in Tel Aviv, Israel where I am exploring a new opportunity. While I’m here, none of my regular tasks are neglected—I simply have to figure out smart ways to get everything done.

As for Eker’s intended interpretation, he makes a great case for hiring people in order to add more energy to the mix. The key, I believe, is in hiring people who bring different skill sets to the table than you might possess. Don’t have energy for administrative tasks? Eker argues, in so many words, that hiring an administrative assistant pays for itself in productivity. Same goes for any other types of tasks that you are either unfit or unable to do yourself.

So, do you have the energy you need to succeed, be it all from your own reserves or from a combination of you and your employees? What other interpretations can be made from the above quote? Share your thoughts in the comments below.

Word From Our CEO: Put it Down to Get it Done!

Thanks to our CEO/President Gadi Binness for the following post. Learn more about Gadi and connect to him on LinkedIn.

I belong to a group of local business owners here in the Tri-State area called The Alternative Board (TAB), which meets once a month to discuss and coach each other on a variety of topics and issues that we experience as small business owners. Participating in TAB meetings has helped me gain perspective on my business goals through hearing about others’ successes and failures, as well as sharing my own.

Professional gatherings like this can be an incredible source of ideas that can be implemented in your business right away. However, it wasn’t until recently that I realized that there is one thing I must do at these meetings to make sure I actually benefit from hearing others’ ideas—write it down! It may sound obvious, but in the past I had sometimes neglected to take notes and it was those times that my business probably did not benefit as much as it could have from those meetings.

That is to say, if I don’t put things in writing, I will forget about them. Whether your style is to use a simple notebook or to type notes on a laptop, the act of taking notes is a critical first step in turning new ideas into action. Not only can I refer to my notes later, but I find that I actually remember ideas better after I have physically written them down.

There is probably some psychological or scientific reason for this (and please feel free to look it up and send me your findings), but the bottom line for me is that I would not have gotten all my business ideas in place unless I wrote them all down at some point. Thus was born my new mantra (which I’ve repeated endlessly to my employees, friends, kids, and to myself): “Put it down [in writing] to get it done!”

What methods do you use to turn ideas into business practice? Please feel to share with us and our readers in the comments section below.

The Relocation Referral Engine

There’s a great new book out there called The Referral Engine: Teaching Your Business to Market Itself by John Jantsch (award winning social media publisher and author Duct Tape Marketing). The basic idea of the book is that you want your company to become a source of referrals for your customers and, in turn, your company will be sent referrals in droves.

Jantsch suggests that you should be able to refer your customers to the BEST companies that might fit their needs, outside of (but related to) the product or service you provide. For example, at Relocation Insurance Group, we refer customers to the very best movers, storage facilities, and mobile storage providers. We also use our industry experience and contacts to refer our affiliates to the very best vendors we know.

In return, Janstch tells us that the companies you refer customers to regularly will gladly return the favor when their customers are in need of a company offering your services. That is, if you are among the best! That’s the other (perhaps understated) half of Janstch’s magic formula: be remarkable. If your company is striving not only to see revenue, but to provide the very best product or service in your space, chances are you’re doing some remarkable things—and members of your network will refer customers to you.

What do you think of this idea of becoming a “referral engine”? Have any of you read the book? Leave your comments below.

New Feature: Weekly Network Roundup

Today we're starting a new weekly feature, where we'll highlight news and events from the property relocation and storage industries. Included will be content from our broad network of affiliates, vendors, and thought leaders. We hope you find our Weekly Network Roundup to be a valuable resource for business ideas, product and service commentary, and more.

Week ending Friday, May 28, 2010

Big Day for GRM Document Management - posted by GRM Document Management

Selling Below Cost While Making a Profit - posted by GoMini's

Check Out Raleigh Mover's Reviews - posted by All My Sons Moving & Storage

Calling All Social Media & Twitter Experts - posted by Drum Marketing


Honor and Remember - posted by National Association of Senior Move Managers (NASMM)

Thinking outside the Business Vertical

Recently I participated at a conference organized by a large national association operating in a market that was not immediately in our business vertical. We generated great leads which we hope will turn into a continuous flow of business.

The best outcome of this show was realizing the potential new markets outside our immediate ‘business vertical’ that need exploring. I call it ‘Thinking outside the Business Vertical’.

One could argue to concentrate on your core markets, and to some extent I agree. However, what if your core markets are over crowded by competitors? What if your core markets are saturated with similar products and you cannot generate any new sales from these markets? Can you explore new market verticals? Can you afford not to be searching for other verticals?

Is Co-opetition For Everyone?

Co-opetition – A relationship between two companies involving competition in some segments and cooperation in others

According to Wikipedia, “Coopetition or Co-opetition is a neologism coined to describe cooperative competition. Co-opetition occurs when companies work together for parts of their business where they do not believe they have competitive advantage, and where they believe they can share common costs. For instance, the cooperation between Peugeot and Toyota on shared components for a new city car for Europe in 2005. In this case, companies will save money on shared costs, while remaining fiercely competitive in other areas. For co-opetition to work, companies need to very clearly define where they are working together, and where they are competing.”

We see Co-opetition in almost every market business segment. Google, Yahoo, Microsoft, Apple and others, compete fiercely in some areas, but cooperate very closely in others (see article).

In the van lines world we see co-opetition between agents of the same van line. But does it exsist between agents of competing van lines? Is co-opetition possible between independently owned moving companies? Self Storage companies? Mobile Storage companies?

One area we see potential co-opetition between companies is in the Mobile Storage and Packing/Loading/Unloading services, in which the mobile storage company may complete for business with the moving company, but use the movers to provide loading and unloading services to its customers.

Can You Handle The Bad News?

If your job responsibility requires you to speak with customers from time to time, you may have come across customers who complained about your service, an employee who they didn’t like or agree with or about a promise made to them that wasn’t kept. If your company operates a blog or uses a survey, you must have read some negative comments about your company, services or employees. How do you handle these? Can you handle the bad news?

As an owner of our agency I have come across negative comments addressed by customers verbally or via our surveys or blogs. I must admit that as hard as I am trying not to take these comments personally, it always trigger the question: What did I do wrong? However, I always with no fail make sure to look into the issue and respond back to the customer, often times by me.

How are you handling these negative comments?

Utilizing Trade Associations

Keeping up with industry news and trends is essential in running any type of business. Online resources such as LinkedIn are a great way to hear the latest buzz and connect with others in your trade, but don’t forget about traditional trade associations. In addition to connecting you with other professionals in your industry, these organizations can help you stay abreast of relevant news and policy, and sometimes offer discounts on relevant goods and services.
As the owner of a company operating in two separate industries, I belong to organizations in both. The American Moving and Storage Association  keeps me connected to the relocation world, and the Professional Insurance Association provides insight into the latest news and policy in insurance.
How do you use trade associations to improve your business? What tools do you use to network with other industry professionals?