The Don't-Do Lists
Don't underestimate the importance of what not to do in certain situations. Here, we compiled a list of 14 scenarios and asked business leaders and experts for their tips on what they assiduously avoid doing in each.
Most of us keep to-do lists. But you'd be a fool to underestimate the importance of what you don't do. With that in mind, we asked 16 business leaders and experts to share their own don't-do lists—the things they assiduously avoid doing or saying when going on sales calls, planning business lunches, motivating employees, and more. There's a lot to learn here ("Don't trust your gut" when designing a logo, for instance). And plenty to argue with ("Do not be afraid to recommend someone else's business or product" to a prospective client. Really?). Our two cents: Don't not read this story.
What Not to Do When You Decide It's Time to Step Aside
After serving as CEO of Salt Lake City-based retailer Backcountry.com for 14 years, Jim Holland, the co-founder, handed over control of the business in 2011 to a successor, longtime employee Jill Layfield.
1. Don't assume that it's a matter of finding another you.
I'm still plugged in and own a significant piece of the company, but I encourage Jill to think for herself. Because my experience is relevant and valued, Jill regularly asks what I think, but I usually pass it back to her to make the call.
2. Don't underestimate the talent under your nose.
Often, people get wowed by the shiny resumés of rock-star outside candidates. As a result, they fail to see the value of the people they have. Because you know your own people so well, you might focus too much on their faults. But the reality is, everyone has faults—and there's only so much you can learn about an outside candidate in a couple of interviews.
Three Things You Never Want to Do—If You Want to Close
John ("Grizz") Deal, co-founder of Denver-based Hyperion Power, is a salesman's salesman. During his career, he has gone on thousands of calls, hawking products as diverse as software and satellite imaging and nuclear power generators.
1. Do not dump your marbles on the table.
When you go into a meeting, you've got two guys staring at you with an empty pad of paper. It's intimidating. The natural inclination is to get it all out, because you're afraid they're going to walk out of the room. Don't go into a meeting immediately saying, "Here's what I'm selling." Don't just re-create what is on a brochure. Introduce yourself, and listen and figure out why they think they're there and why you're there. I've seen great salespeople turn into infomercial guys. They get a patter down, a standup routine, and create a one-sided conversation. By just getting people talking, I've seen sales calls turn into partner meetings and turn into investor meetings.
2. Do not work so hard closing that you close the door.
There are lots of reasons a deal might not close. Some people may be excited about your product, but they may not be able to afford it, or the timing might not be right. Some salespeople just dump them and move on. I categorize those people as advocates, as opposed to potential customers. I send them Christmas cards and ask them if they want to receive our newsletter. You're making them part of your team instead of being a customer.
3. Do not be afraid to recommend someone else's business or product.
As much as one-third of the time, I recommend someone else's product because we don't fit their needs. You could try to push them through the sales process, but eventually they're going to figure out you're not a good fit. This way, you make friends in the industry. I say, "You tell them that I sent you." Maybe your competition will do the same for you. If you put the best interest of your customer first, you'll make money.
How to Bring Ideas to Life
Not sure if your new business idea will fly? Be sure to avoid these don'ts when starting a business. Find out what not to do when bringing an idea to life.
What not to do when designing a logo
Milton Glaser is one of the most celebrated American graphic designers. Most famous for his "I ♥ NY" logo, the New York City-based designer has spent decades creating logos and developing corporate identities for hundreds of businesses, large and small.
1. Don't trust your gut. Everyone is an expert. They don't like blue, or they want fatter letters. It's hard when you have a manufacturer who's been making something for 50 years and thinks he understands the subject—but designing logos, he doesn't know anything about anything. I try to convince clients there's a rational process involved.
2. Don't focus-group it to death. It's a nightmare presenting a logo to a board of eight people and trying to find consensus. It's amazing how much mediocre work there is, even in the face of so much collective energy and marketing groups. At the end, you have something that is weak and ineffective and looks like 100 other things.
3. Don't just do it. The worst trend is the Nike swoosh. So many clients and designers think of a logo as being a peculiar kind of shape that stands out from others. But there has to be a fundamental editorial proposition behind the logo.
How to Turn a Social Network Into Your Network
Andy Dunn, founder and CEO of the New York City-based menswear manufacturer Bonobos.com, owes it all to Facebook and Twitter. The social networking sites bring in a third of Bonobos's customers and helped push sales to $9 million last year.
1. Don't be a wimp.
People avoid Twitter and Facebook because they don't understand it. That's a little bit like 90 years ago saying, "I don't get this telephone thing."
2. Don't hide from unhappy customers.
If someone complains, don't duck. We have the equivalent of three full-time people who handle customer service through Facebook and Twitter, and we aim to close 95 percent of those tickets within two hours. We call our customer service people Ninjas and have made customer service a salaried job with an equity stake and hired energetic and empathetic college graduates. They work in our New York City headquarters just down the hall from the people who are designing the products.
3. Don't blather about yourself.
If you're self-serving, you miss the point of what social media is about. About 80 percent of what we say on Twitter and Facebook isn't self-promotional. We do quizzes; we ask questions, things like, "What's your favorite summer music memory?" or "What's your response when someone says, 'Nice pants'?" Be irreverent. There's more to having a conversation than just promoting your product.
