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September 25, 2007

Do It Wrong Quickly – Marketing in the Age of the Web

Filed under: Information Technology,Innovation,Jack Covert Selects,Marketing,Publishing Industry — 800-CEO-READ @ 9:30 am
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A little background…Pearson, a major international publisher of educational and resource materials, puts out some of the best books on Internet marketing, technology support, and learning HTML and multimedia software. (And they’re not paying me to say so.) You’ve probably seen Pearson’s many imprints on your resource books — IBM Press, Financial Times, Prentice Hall, Peachpit Press, Longman, and Wharton, among many others. Peachpit’s Quickstart guides, for example, give non-technicians the basic tools to make heads or tails of programs once mastered exclusively by programmers and graphic designers. As much of our creative work becomes do-it-yourself or stays in-house, it’s almost necessary to start a reference library. Over the next few months I’d like to recommend a few titles to get you started.
As we’re thinking about ways to expand our online presence, Todd and I have been talking a lot about the best ways to approach new projects. It used to be that we decided to do something–print a new brochure, redesign a web site, incorporate a new technology–and then presented a plan to a designer. There might be some initial back-and-forth about needs and goals, but what the designer came back with in the end was essentially a finished product. We had to be sure we knew exactly what we wanted before we asked (and paid) for it. Today, though, there’s a lot of wiggle room. Especially online, we can try and fail at something new without taking a significant hit (or any at all, sometimes).
A few weeks ago Todd wrote about a book called Super Crunchers by Ian Ayres:

http://800ceoread.com/blog/archives/007328.html.

It was also featured in Jack Covert Selects in August:

http://800ceoread.com/blog/archives/007292.html.

One point Ayres makes in Super Crunchers is that by applying randomization, we can learn a lot about our customers/users’ needs and preferences–a lot more than we could know by traditional trial and error.
This week I opened up Do It Wrong Quickly: How the Web Changes the Old Marketing Rules (IBM Press). The subtitle might make you think “Um, where have you been?” but the author, Mike Moran, actually gets at something close to what Ayres talks about in Super Crunchers. Using a bow-and-arrow analogy, Moran suggests that the archer with three arrows has a higher chance of success than the archer with one. In other words, it’s great if your shot in the dark hits the bull’s eye, but chances are it won’t every time. On the other hand, if you take three shots at the same time, you might not hit the bull’s eye, but you’ll score more points–and learn more along the way.
I’m probably not doing justice to the author’s message, here, but I think that the important thing to take away is that it no longer makes sense to expect that even a carefully thought-through, well-executed marketing campaign will hit the target in today’s world. In fact, Moran believes that the new marketing means getting away from the plan-then-execute approach, and starting to try lots of approaches at the same time. In addition to systematic ways of assessing your online marketing (conversions, metrics), you have to listen better to your customers. He talks about the social media phenomenon, incorporating multi-media approaches in your message, and creating deeper relationships with your customers by engaging them in a conversation.
As Moran puts it, “whether change gets your blood pumping or leaves you in a pool of sweat, marketing is undergoing a revolution more profound than any of us are likely to see the rest of our lives.” Do It Wrong Quickly is a friendly invitation to that revolution.

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September 24, 2007

Ask 8cr! – Happiness

Filed under: Ask 8cr! — Aaron @ 11:24 am
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Welcome to “Ask 8cr!” – a new section of our blog where we’ve created a forum to find out what kinds of issues and challenges people are having in the workplace. We then take these issues and apply a business book we feel offers a viable solution. Others then chime in via the comments section. The person with the selected challenge gets a free copy of the book, but everyone who reads these posts, wins. Do you have a challenge at work? Send it to me at jon(a)800ceoread(dot)com.
Today’s challenge deals with identifying what career path will truly make you happy. Here’s a note from one of our readers:
“Currently, I’m a free agent or on sabattical or unemployed … depends on how one looks at the situation. Have been since early April. Since I’ve never really known what trips my trigger regarding a job, it’s been very difficult to lock into one or two specific areas that I might like. In fact, I know the kinds of jobs I DON’T want to perform. I have an M.A., have worked in theatre management, fund raising, and been an investment advisor. Am ready for something new, but don’t know what.” – Lynn
Maybe you’re like Lynn, looking for work, but sort of dreading all of it in general. Or, maybe you have a job, but it’s lost its luster to the point of making you wonder why you even wanted it in the first place. Or, maybe you’re completely happy with your position, but have the nagging feeling that the company you’re with stinks. Whatever the case, you’re looking for happiness – not a job, not a career, not a company. So, how do we predict such things? How can we know what we should really be looking for?
Daniel Gilbert has written an incredible book called Stumbling on Happiness. Using scientific research (he’s a Harvard psychologist), humor, and a writing style all of us lay-folk can understand, Gilbert details how the human mind gets used (and not used) that can help us all realize why we’ve made the decisions we have, and how to set ourselves back on our own paths toward happiness.
Interestingly, Gilbert discusses how people have the strange compulsion to want to “live in the moment,” as if doing so will give us a heightened sense of enjoyment. Rather, “living in the moment” is just what inhibits us from fulfilling what our brains are really driving us toward – our interests, and thus, our happiness. Our brains, he says, are built to think about the future. Telling your brain not to think about the future is like telling your heart not to beat so much. From this principle, the book progresses through a series of other examples of how the brain works, and how, in its intricacy, we have the ability to manipulate it to our advantage and disadvantage. Understanding this stuff is huge, as it makes you think much more about how you think. Sounds confusing, but it’s something we should do a bit more often to help break out of the patterns that keep us following a path out-of-sync with our true happiness.
Stop stumbling and pick this book up. It’s an enjoyable and helpful read for all. And if my opinion isn’t good enough, read what Jack Covert had to say about it here.

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September 21, 2007

Social Contract Networking

Filed under: Social Responsibilty — dylan @ 12:25 pm
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I believe very strongly in personal responsibility and hard work, but have never really understood it when people say that someone else should “pull themselves up by their own bootstraps”. I mean really, if someone were to accomplish that feat literally, they’d pull their own feet out from under themselves and fall right on their backside, so even as a metaphor it seems absurd. I know it’s just a figure of speech, but its very utterance seems to deny any existence of a social contract. Even if one does deny the inherent existence of such a contract in society, and there are plenty who do, is it not incumbent upon a democratic government to provide some material support to its most disadvantaged citizens when the private sector fails to do so? Does it not help move the business of the country forward, or at least keep it stable, when it does so? FDR thought so, and though he was considered by many at the time as a “traitor to his class”, his New Deal policies are seen by many others as the savior of American capitalism and society, tempering the sometimes harsh realities of the market with social safety nets.
The Indian government set up its own kind of new deal for their most disadvantaged citizens when they wrote their constitution back in 1950. The Dalit community, often referred to as the “untouchables”, make up 16% of the Indian population, and after centuries of living at the bottom of a rigid caste system, the 1950 constitution offered many of them the prospect of a better life. As reported in Wednesday’s WSJ, there is some controversy surrounding these policies today. Yaroslav Trofimov writes:

Under India’s constitution, Dalits are entitled to [certain] benefits, including 15% of all federal government jobs and admissions in government-funded universities. This provides the country’s most downtrodden with a way to escape their traditional occupations such as emptying village latrines, burying cow carcasses, and tanning animal hides.
But there is a catch: Any Dalit abandoning Hinduism for Christianity or Islam loses these privileges, and can be fired from jobs gained under the quota. The rules are enforced by vigilant local officials who keep a close eye on villager’s comings and goings.
[...]
Such thorough enforcement means that secret lives have to be lived throughout India’s society. “If they ever find out I’m a Christian, I will lose my position, no question about it” says a Dalit school teacher who behaves as a Hindu when he teaches in a state school near Medipally but decorates his Hyberabad apartment with pictures of Jesus and the Virgin Mary.

Now what to do? The private sector isn’t yet meeting all the needs of the disadvantaged in this situation, and the government has put restrictions on their programs to do so. This is when charities often enter the picture, but as Phil Smith and Eric Thurman note in A Billion Bootstraps, even “experienced philanthropists from Andrew Carnegie to Bill Gates have complained that giving money away is often more difficult than making it in the first place.” The authors call the U.S. non-profit sector a “$900 billion black hole” because there are few reliable statistics about it and it can be very difficult to know exactly what is being done with the money you contribute. This is not to suggest we shouldn’t donate to charity, but Smith and Thurman’s book offers both a humanitarian and entrepreneurial alternative by documenting the world of microfinance. Muhammad Yunus, who wrote the forward for this book and has written his own book on the topic, won the Nobel Peace Prize last year for his pioneering work in the field of microcredit. Realizing that the largest contributor to poverty is not lack of skill or ambition, but access to capital, those in the vanguard of this “barefoot banking” movement began making small loans to individuals mired in poverty with no access to traditional loans. One such example from the book:

In Tamil Nadu, the southern-most state in India, Shanti, a 28-year-old mother of two young sons, weaves delicate silk saris to sell in the neighborhood. Born into the extreme poverty rampant in this region, Shanti’s weaving skills were hard won, and she has worked diligently since childhood just to survive. Though renowned for the quality of her saris, Shanti was earning only $2.60 per day, barely enough to allow her to care for her children. Desperate for the capital required to expand her business, she became indebted to a local loan shark who charged outrageous interest rates. Later, she learned about microcredit and took a loan for $60 that she invested in her business. Her income has since increased to more than $6 a day, and she is now free from crippling debt. Today, Shanti is able to focus on growing her business and creating a better life for her family.

This is globalization on a human scale. If we can foster friendship and goodwill through this kind of entrepreneurship and cooperation, I think we may start to gain back some of the admiration and standing we’ve lost in the world over the last few years. And though I’m still not sure about the bootstraps analogy, A Billion Bootstraps has given me an even greater appreciation for what hard work and perseverance can accomplish with just a little support.

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The Little Prince Debate

Filed under: Social Responsibilty — Roy @ 10:15 am
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Tom Peters refueled a little inner office discussion between the sales staff here at 8CR with a blog post over at TomPeters!, when mentioning The Little Prince by Antoine de Saint-Exupery. It wasn’t until recent discussions, and Mr Peters’ blog post that I looked past the personal value of the book, and thought of The Little Prince as a very valuable business tool. People look to a variety of business books for the answers of becoming better in their field, yet forget some of the basic principles that help in accomplishing these tasks. Revisiting this classic fable made me look into similar books that address a bit more of the human dilemma. Here are a few books worth flipping through (None of these books are really classified as business books, but contain invaluable insights that could improve the way we do business, and how people can progress in their chosen professions):
If you get a chance, go back and revisit Jack’s posts on Chasing Daylight.
If anyone is a big fan of Mr. Rogers Neighborhood, I’m Proud of You: Life Lessons from my friend Fred Rogers by Tim Madigan has just been released in paperback.
A good friend, who coincidentally gave me my first copy of The Little Prince, handed me a copy of Thich Nhat Hanh’s book Peace is Every Step about ten years ago. She said that if it didn’t lower my blood pressure I should seek professional help. I was very excited to see his latest book The Art of Power sitting on top of a pile of books in the office. Here is a little blurb from the back cover:

“Our society is founded on a very limited definition of power, namely wealth, professional success, fame, physical strength, military might, and political control. My friends, I suggest there is another kind of power, a greater power: the power to be happy right in the present moment…….”

Wouldn’t the environments we spend time in be more enjoyable with a stronger presence of the human value in them? I would like to think so.

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September 20, 2007

More NYC food

Filed under: Customer Service — Todd Sattersten @ 4:06 pm
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Shaking At The ShackShake Shack

We have eaten at some incredible restaurants on this trip. Yesterday was Balthazar for breakfast and Bouley for dinner.

I had to take a break from all that fine dining and eat lunch today at the Shake Shack. This is another establishment run by Danny Meyer’s Union Square Hospitality. The burger joint is located in Madison Square Park and was quite popular today with the sunny, 80 degree day we are having in New York City today. I waited in line for 30 minutes to place my order and waited another 15 minutes to get my Shack Burger, Fries, Coke, and Strawberry Custard Shake. It was really good.

Shake Shack Menu

P.S. It was awesome to see Milwaukee-based Usinger’s bratwursts (aka Wisconsin Bratwurst) on the menu.

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Local Friend Recommends

Filed under: Start-ups — Todd Sattersten @ 3:06 pm
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Our friends at OnMilwaukee.com recommend a great business title in their most recent “OMC Recommends: Cool stuff we like right now” column. Jeff Sherman says this about Randy Komisar’s The Monk and The Riddle:

It’s a bit outdated, but Randy Komisar’s novel is a great read. Not only does it help solidify the impact that passion and purpose (two of reasons, if you were wondering, why OMC has become the amazing company it is today) have on our lives, but it’s a decent outline for both new and time-tested entrepreneurs.

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More on the digital vs. paper debate…

Filed under: Publishing Industry — Kate @ 2:16 pm
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We often get into philosophical debates here on everything from what constitutes a sport to the evolution of the book industry. Many times, these conversations are conducted through a string of emails. Rebecca introduced you to one debate. I thought you might like to see it unfold.
Here’s a piece of the digital vs. paper debate — featuring Jon, Rebecca, Todd and Dylan. It’s lengthy and poses interesting questions and points about business books and reading in general. I did edit bits and pieces to trim it a bit for your — the reader’s — sake. And so it begins:

Todd opens:

I saw this on the Apple Keynote:
32% of the music released in 2006 was digital-only (no CD was released)
Think about a similar phenomenon in publishing and what that would mean…

We all think. Jon responds first:

I still don’t know if there’s that strong of a connection between these types of publishing. Downloading a song and carrying it around makes sense. Downloading a 300 pg novel doesn’t. How will this change?
Maybe language will change based on technology. Maybe people will start using less words, more images/sounds/etc. Then a 300 pg novel could be reduced to a much shorter presentation with generally the same message.
Sort of like Kanji, but much further.
This leads to much bigger questions – Is this beneficial? Is this progress? Will it lead to an even greater sense of illiteracy?
Thanks for the happy morning thoughts, Todd!

Keep reading…

(more…)

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800-CEO-READ Business Book Awards 2007

Filed under: Book Reviews — katie @ 9:38 am
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800-CEO-READ is excited to announce our first annual Business Book Awards. With thousands of business books published each year, there can seem like an overwhelming pool of options to choose from when trying to find the best of what you’re looking for. That’s where we come in. We are encouraging authors to submit their books published in 2007 for us to review and recognize as the top business titles of the year.
Books will be judged in the following categories:
1. Sales
2. Leadership
3. Human Resources/Organizational Development
4. Entrepreneurship/Small Business
5. Finance/Economics
6. Advertising/Marketing
7. Globalization
8. Fables
9. Biographies/Memoirs
10. Personal Development
11. Innovation/Creativity
12. Industry Books
13. New Perspectives
Along with winners for each category, there will be three overall awards including:
Best Business Book 2007
One title will be selected as the overall best business book of the year based on exceptional presentation of ideas and content.
Author’s Choice
Any author with a book published in 2007 is eligable to vote on their favorite book of the year.
Reader’s Choice
Readers will also have the chance to participate by voting for their choice via an online poll starting November 10, 2007.
Important deadlines to know for the 2007 Awards are as follows:
All entries must be postmarked by October 30, 2007.
Semifinalists will be announced December 17, 2007.
Final winners will be announced January 15, 2008.
For information on how to enter a book and to learn more about the awards, please visit www.800ceoread.com/bookawards.
For any other questions, please e-mail Katie Schutrop at kschutrop[at]800ceoread.com.

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September 18, 2007

A big push for digital books? Not quite yet…

Filed under: Innovation,Publishing Industry — 800-CEO-READ @ 8:53 am
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There was an article in last week’s issue of BusinessWeek called “Amazon Does Downloads, Sort of: Why its push into digital delivery of books, movies, and music seems halfhearted.”
Here at 800-CEO-READ, there is an ongoing discussion about, you guessed it, whether digital will eventually take over the book industry and books as we know them will go away. We all agree that the physical book will never go away – it’s too bound up in our culture, and it’s still the most portable way of carrying ideas around with us, not to mention the fact that experts overwhelmingly agree that reading printed matter is easier on the eye than reading a screen. But we are seeing more and more cool technology when it comes to books. Todd and Dylan got to see a prototype of an electronic book at the Tools of Change Conference, in June.
The author of the article, Scott Kirsner, looks into the e-commerce side of the digital debate. Despite the fact that Amazon has acquired Mobipocket (an online, digital- book-seller), and even though it is expected to open a downloadable music service, sell an e-book device called the Kindle, and offer NBC TV shows through Unbox, a movie-download service, Amazon has been awfully timid in venturing too far out into the possibilities of selling digital content.

“Amazon’s toe-in-the-water approach may seem odd, considering how it helped pioneer online shopping in the mid-1990s. You might think that fulfilling orders for digital media would be more efficient than pulling CDs off shelves, boxing them, and handing them over to UPS for delivery. But as long as digital music and e-books come with heavy restrictions on how and where consumers can use them, the market will be limited and rights holders will have the power to shake down sellers. That’s O.K. if you’re Apple Inc. and see music as a “door opener” for iPod and iPhone sales. But for Amazon, there’s still much more money to be made shipping real stuff.”

Yes, heavy restrictions will continue to make downloadable content more difficult to acquire–and whether it should be is another conversation–but the last two words of that passage stuck out to me. “Real stuff.” Not only do many industries still depend on real stuff–for manufacturing, packaging, shipping, stocking, and so on–but buyers have shown that they still want tangible, material objects for their money.
I suspect, however, that Amazon’s plunge into selling digital content isn’t too far off. And it’s more likely to be a swan dive than a belly flop.

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September 17, 2007

Greenspan In Today's Papers

Filed under: General Business,History and Biographies — Todd Sattersten @ 9:12 pm
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IMG_1430.JPG

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