Lessons We Can Learn From Great Business Minds of Yesteryear

thinkstockphotos-87751432Business leaders of yesteryear can teach us lessons even today. Cornelius Vanderbilt, who dominated shipping and railroads; John Pierpont “J.P.” Morgan, who built a financial empire on investments and banking; Mary Kay Ash, who founded the exceptionally successful company Mary Kay Cosmetics; and John D. Rockefeller, who founded Standard Oil and was America’s very first billionaire are all worthy of admiration and have lessons they can teach us. Today, though, let’s look at one businessman, in particular, Henry Ford.

Who Was Henry Ford And How Did He Make An Impact in The Country?

Henry Ford, born in 1863, was a U.S. Industrialist who revolutionized automobile production, which allowed his company to mass produce cars, thus bringing the price down. This, in turn, allowed more regular folks to purchase cars and led to Ford Motors becoming hugely successful. In essence, Ford did more than creating a successful company; he revolutionized the entire transportation industry. Before his changes were implemented, most people were unable to afford such a luxury. Therefore, he took a product that was not widespread and made it applicable for the average consumer, thus changing the entire landscape of the country in several ways. Ford was able to achieve this success thanks to a few methods he applied within his business. These ideas are applicable to any type of business and can teach us as business professionals and entrepreneurs lessons on success even today:

  • Innovation is Everything: When it comes to innovation, Henry most certainly knew what he was doing. He utilized an assembly line technique that forever altered the way automobiles were produced. It’s worth noting that he was not the inventor of said assembly line. He only created an innovative way to implement the technique within his business. This is a great lesson we can learn from him today. You don’t have to come up with the idea or product in order to figure out a new way to utilize it.
  • Don’t be Afraid to Specialize And Offer Solutions to Undiscovered Problems: Henry Ford understood his market and specialized in it. He understood that it’s hard to find success when remaining too generic. He also understood his customer base better than they understood themselves. He was able to offer a product as a solution to a problem that his customer base didn’t even realize they had. He once stated, “If I had simply asked people what they wanted, they would have asked me for faster horses.”
  • Efficiency is Vital: Ford was such a believer in efficiency that he is credited with the creation of “Fordism.” This term basically describes a system of mass production that is both standardized and efficient. He understood the importance of keeping his workers productive and achieving a maximum output. He was able to do this, in part, by providing incentives. These incentives, which included a reduced workweek and better wages, resulted in worker loyalty and efficiency.
  • Don’t be Afraid to Learn Something New: Henry Ford once said, “Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young.” Henry Ford was personally committed to learning. He was never content to learn all he could about a subject and just stay there. He didn’t want to just “be,” he wanted to grow. This is likely how he was able to come up with such innovative ideas because he never got stuck thinking or acting a certain way. Instead, Ford was always up for a new challenge. We would do well to emulate this in our own professional lives.

There are countless other lessons we can glean from Henry Ford and other businessmen and women like him who revolutionized their industries and achieved amazing success. The important point to remember is that they all stepped out, took a risk, and believed in their goals. That is the foundation for any great success.

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3 Easy Time Management Tips: How to Create More Hours in a Day

thinkstockphotos-517866414The one natural resource there never seems to be enough of is time. There are only so many hours in a day. You don’t need to wish that tomorrow will suddenly be a 35-hour day to get all of your work done. Instead, you need to start using a few small, yet critical, time management tips today to work smarter, not harder, with the hours that you DO have available to you. Here are three tips to get you started.

1) Learn How to Travel Productively

These days, a significant portion of your work probably isn’t taking place within the confines of your office. Whether it’s meetings with clients or unexpected personal issues, you likely find yourself stepping away from your desk more and more. The key to time management isn’t learning how to keep up with your obligations in spite of these sudden duties. It’s learning how to fit in work time around them.

Even if you don’t have a mobile tablet that you carry around with you wherever you go, it’s still easier than ever to work remotely. If you’re not already using a cloud-based file sharing service like Dropbox or iCloud, you need to start. Changing a document on your work computer makes those adjustments instantly available to every other device you have. Likewise, services like Dropbox for Business allow for real-time collaboration on files, letting people get together to work on a project even when they don’t have the time to literally “get together” at all.

Remember, the smartphone that you likely carry around with you is more powerful than the technology that NASA used to send men to the moon in the 1960s. There are hundreds of thousands of apps that are available in the iTunes and Google Play app stores right now for you to use to customize that device in any way you see fit. Stop thinking about it like a device that you merely use to send and receive calls and start looking at it as your office on-the-go.

2) Hold Better Meetings

Meetings are just a fact of life. But one of the many reasons why people tend to dread that weekly “catch-up” gathering is because they’re huge drains of productivity. The answer to this problem isn’t to stop holding meetings altogether; it’s to start holding better meetings.

Think long and hard about why you’re having a meeting. If it’s just to convey information, you could probably save everyone a lot of time and just send a lengthy email or inter-office memo instead. A meeting should always justify its existence. If it doesn’t, it needs to drop off the schedule. Likewise, plan out an agenda for your meeting ahead of time and stick with it. Make sure everyone who needs to contribute knows what is expected of them before you all walk into a room, giving everyone a chance to be as prepared as they need to be.

3) Get Organized and Stay That Way

Again, time management isn’t about finding more hours in a day; it’s about working smarter, not harder with the hours you already have. One study estimates that as much as thirty percent of our working time each day is spent looking for misplaced items. It stands to reason that if you never feel like you have enough time to get things done, the true issue might just be that you need to take a look around and organize your life more effectively.

“Take It From Me”- Why Testimonials Are So Effective

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Marketing is all about giving your customers the information they need to make an informed purchasing decision. Everything you do – from the copy you craft to the images you choose – is built around that simple purpose in mind.

But marketing itself has evolved over the years, away from the heavy reliance on the spec sheets of yesteryear. It’s essentially become an open line of communication between you and the people you’re trying to serve. People don’t want to be “sold to” anymore – or at least, not in the way they used to.

This is why customer testimonials are so important. Instead of “taking your word” for it that your product or service is going to impact their lives positively, it lets real customers hear from other real customers why the decision they’re about to make is a good one.

The Power of Testimonials: Facts and Figures

In addition to communicating with your audience, another essential goal of your marketing materials should involve building as much trust and credibility as you can. Your customers don’t just want to know that you can solve their problem – they want to know that you can do it better than anyone else. To that end, customer testimonials are incredibly effective – particularly in the world of print.

Part of the reason why testimonials are so important is that they help create a deeper, more emotional appeal for your branding. Consider the following statistics:

  • According to one study, the regular use of customer testimonials can help you generate roughly sixty-two percent more revenue not only from every customer but from every time they visit your brand.
  • Ninety-two percent of people said that they read testimonials when considering a purchase.
  • A further eighty-eight percent of consumers said that they trusted these reviews just as much as personal recommendations, according to the same study.
  • To top it off, seventy-two percent of those who responded to the survey in question said that positive reviews and testimonials helped them trust a business significantly more.

Simply put, customer testimonials create something of a self-fulfilling prophecy regarding your connection with your target audience. Someone enjoys your product or service, so you encourage them to leave a positive review or testimonial. Consumers naturally trust each other more than they trust just marketing collateral, so that testimonial adds more weight to the decision they’re trying to make. Those initial happy customers, therefore, encourage more purchases, which creates more happy customers, etc.

When you combine customer testimonials with other effective marketing tactics – like a heavy reliance on not just print but on print techniques that help your collateral stand out and make a unique impression – suddenly your message is being amplified in the best possible way. You’re giving an opportunity to let regular customers become brand advocates, which does more in terms of building trust, credibility, and emotion than you could ever do on your own. You’re also creating more brand advocates in the process, which is always a good thing.