success

The Importance of Showing Gratitude

thankyouWhen the overplayed holiday commercials sweep across every screen this time of year, are we reminded to be “thankful” and show gratitude to those around us?  More importantly, are we taking the time to do so? Thanking someone can be such a simple act, yet it is often forgotten in the business world.  Of course, when a successful business deal or proposal takes place, both parties will often thank one another. However, when a proposal is refused or when a situation is less than successful for all, a thank you can easily be forgotten. Acknowledging the work that has been delivered and the relationship that has been formed is a vital part of any interaction. Thanking someone for an opportunity can mean a great deal, and moreover it could translate into future business.

Why is this so important?

Most will agree that saying thank you is a very simple gesture that can go a long way. Making the effort to do this in our personal lives can be very influential as well. When people are recognized for their efforts and kindness, they are rewarded in a way that is heartfelt and unique. An article written by Robert A. Eckert, former CEO of Mattel, for the Harvard Business Review highlights his tips for showing thanks and the importance of showing gratitude. He felt that when he said thank you more often, the effects were obvious: people showed up to work aiming to do a good job. Eckert summarized his advice for showing gratitude (in the business world in particular) into five important points:

– Set aside time every week to acknowledge people’s good work.

– Hand-write thank-you notes whenever you can. The personal touch matters in the digital age.

– Punish in private; praise in public. Make the public praise timely and specific.

– Remember to cc: people’s supervisors. “Don’t tell me. Tell my boss.”

– Foster a culture of gratitude. It’s a game changer for sustainably better performance.

While thoughtful gestures are truly the reason of this season, many forget to stop their busy lives to genuinely show gratitude where it is due.  So to that point, on behalf of the team here La Voz Marketing, we would like to express our sincere appreciation to our loyal clients, our dedicated co-workers and for the opportunity to do what we love on a daily basis.  Thank you for your continued support!  Have a wonderful Thanksgiving Holiday!

 

 

Apple Succeeds with ‘Backwards’ Bussiness Strategy

In a recent Mashable article, author Chris Taylor highlights how Apple succeeds using a unique business model to sell its products.

The iconic retail strategy, followed by most businesses in the 20th century, has been to ‘give away the razor handles and make money on the razor blades’.  The idea behind this is that you get consumers hooked on an affordable product (razor handles) and then make money on the essential accessories and add-ons (razor blades) to that product.  In 2001, Apple defied this business model with the launch of their groundbreaking iPod product.  Prior to the iPod, MP3 players resembled bulky, over sized compact disc players.  The iPod came with significantly less storage, a much higher price point (at $399), and yet consumers went crazy over them.  Two years following, Steve Jobs launched the Apple iTunes Store where songs were sold for 99 cents (a price that barely covered costs for each song sold).  People questioned the low price, to which Jobs responded: “The dirty little secret of all this is there’s no way to make money on these stores.” When asked why he would keep the price so low, when most of the profit goes back to the music company and the rest barely covers production costs, he replied: “Because we’re selling iPods.”

How is Apple taking this model to the next level?  At the iPad Air Launch event on Oct. 22, Apple announced that Mac OS X Mavericks and iWork would be Apple Unveils iPad Airfree.  This means that once consumers purchase their shiny new Apple product, the rest is free. All the coveted add-ons, apps, and now the OS itself, will be complementary with purchase.  Most business consulting management advises against such practice, predicting failure for companies who go against the well practiced “razor blade” business model.  However, Apple has proven itself unarguably successful in its unconventional strategy.  The next big question: how will Apple’s competitors compete?