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The Jean Claude Biver (Hublot) Story – Modeling The Masters
It’s time to launch our latest famous entrepreneur profile, this time of Jean Claude Biver from the luxury watch company Hublot.
You can read the complete profile at http://www.evancarmichael.com/Famous-Entrepreneurs/5683/summary.php.
“The watch does not represent the indication of time anymore,” Biver once said. That is, in large part, thanks to the work of Biver. Watches – Biver’s watches – have become pieces of art for the wrist. They are eagerly sought after in many markets and making fast inroads in others. What makes them so different from the rest? How did Biver build a luxury lifestyle around a watch?
Vision: “One of the fundamental errors that new CEOs make when they take the helm is that they fail to build on the brand’s roots and foundations that are already there,” says Biver. “Instead, they try to start all over again. But when they do this, their brand becomes fragile – it doesn’t benefit from the foundation and strength that history provides.” To that end, Biver made it a point to build on the existing brands instead of remaking them. Creating a new fusion between old and new became his trademark, and a successful one at that. “The past became my friend and not my enemy,” he says. “The past provided credibility.”
Exclusivity: “I abused limited editions,” says Biver. “But they did not to any lasting damage and we had it corrected.” Despite his errors of one limited edition watch too many, Biver’s strategy of limited distribution created high demand, thereby adding to the appearance of luxury and exclusivity.
Branding: “The key is that marketing and branding success is never due to just one element,” cautions Biver. “The key is everything must be aligned. There must be total alignment between the message of your brand, between the product of your brand, between the communication of the brand and your distribution. If any of these are not in synch you will fail. If you have all these you have the tools to be successful, provided that what you produce has aesthetic emotion and appeals to your consumer.” Biver implemented a unique branding strategy that utilized strategic sponsorships that created a lifestyle image – a lifestyle that complimented that of Biver’s customer.
Investment: “I always tell my people now is the moment to invest, but in what?” asks Biver. “Invest in travel costs, in promotions, in research and development.” During the most recent recession, Hublot’s sales under Biver had dropped by 15% by November 2009. In comparison to the industry standard of 30%, however, Biver is considered to have been very successful. That is due in large part to the investments he put in while others were cutting back. “We have to carry on with our creativity, with innovation, our marketing investments and that’s it,” he says.
Adaption: Biver had the business sense to understand that not all markets had the same requirements and priorities, and that he would have to adapt accordingly if he wanted to be successful. He also knew that despite the fiercely competitive industry in which he found himself, competing brands could at times be found on the same side of the fight.
“Success brings satisfaction but it brings enormous obligation,” says Biver. “First of this is the obligation to share. Success belongs to everyone who helped you. You are the tip of the iceberg and your team is everything that you don’t see. Second, success must be transmitted to others to perpetuate and repeat this success. Third, your obligation is to stay humble because you never know what the next step of your life might be. You have success today but you might have defeat tomorrow. The Tibetans say when you have reached the top of the mountain, go on climbing.”
Again, you can read the complete profile at http://www.evancarmichael.com/Famous-Entrepreneurs/5683/summary.php.
What do you think of the Jean Claude Biver story? Are there any other famous entrepreneurs you would like to see profiled?
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New Logo Contest Results
In April I posted about a contest I was running with LogoMyWay.com to create a new logo for my Top 50 Blog Lists. I’m pleased to report that after 108 entries we have a winner!
1st Place
2nd Place
3rd Place
The winning entry was created by Sa2010, a fellow Canadian and overall I was extremely pleased with the quality and diversity of the entries posted. Creating a contest with LogoMyWay.com costs $200 and you’re able to tap into a very talented pool of designers who compete for your business. You can see all of the entries for my contest here.
I’ve already put the badge up on my most recent Top 50 List, The Top 50 Human Resources Blogs To Watch in 2010 and I think it adds a nice touch to the list to allow bloggers to imbed the badge.
I would definitely consider LogoMyWay.com again and they’ve just recently put out a contest to redesign the BP logo after the oil spill. It’s received over 200,000 views and has received a lot of media attention. Check out the contest here.
What do you think are some other company logos that need to be redesigned? How did you go about choosing a logo for your business?
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New Video – How to Promote Your Business like P.T. Barnum
It’s been a while since my last Modeling the Masters video but I recently created a new video and would love your feedback on it. This time the video focuses on how you can promote your business like P.T. Barnum, one of the greatest promoters of all time.
Phineas Taylor Barnum (July 5, 1810admin
The Top 50 Productivity Blogs To Watch in 2010
We all have the same 24 hours in every day. So how come some people seem to do so much more with their time than others? The answer comes down to productivity. Making the most with what you have, whether that be time, energy or resources, is one of the keys to business success.
As small business owners, it’s even more important for us to manage our time and efforts if we want to stay in the game. But that doesn’t necessarily mean doing more. Entrepreneurs need to learn to master the work-life balance so they don’t burnout before the game even gets going. Check out the Top 50 Productivity Blogs to Watch in 2010 for tips on getting organized, becoming more productive at both home and work, and creating the life you want for yourself!
You can also view last year’s list here.
Life Hacks
Adam Pash, Lifehacker
1) Lifehacker
http://lifehacker.com/ - Lifehacker is an award-winning daily blog that features tips, shortcuts, and downloads that help you get things done smarter and more efficiently. Lifehacker launched in January 2005, and now ranks as one of the top-linked blogs on the internet according to Technorati.
2) Lifehacker Australiahttp://www.lifehacker.com.au/ - Lifehacker Australia is a technology blog with a slightly different way of looking at the world. They see technology as a shortcut to life. When they look at products, software or gadgets, they stop and ask
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Ask Evan – How to Promote Your Business With No Money
Ask Evan is a segment on this blog where I answer reader questions. This week’s question comes from Sunny:
My biggest challenge right now is advertising. I need someone to pound the pavement for me and pass out business cards and brochures. I just don’t have the funds to pay that person to do that for my business right now.
Thanks for caring,
Sunny
Dear Sunny,
Thanks for the great question – as entrepreneurs we never seem to have enough time, money, and other resources to get the job done. Here are my top 5 tips for you on how to promote your business with no money.
1) Partner Up
The fastest way to make sales and not spend on advertising is to find a company who is already selling to your target market and create a partnership where they promote your products or services to their customers in return for a percentage of the sale.
One of the easiest ways for a company to grow their business is to sell more to current customers so many business owners are open to the idea of promoting other products if there is something in it for them. The best part is: It doesn’t cost you anything until you make a sale.
Before approaching potential partners make sure you’ve done your research and are aligning yourself with someone who has the same company values as you. You don’t want to associate your business with a company that does not reflect the way you run your company so do your research and then get hunting!
If you’re looking for help but don’t have money, what else can you offer in return? Think about all the other resources and knowledge that you have – could you trade something else instead of money?
2) Commissioned Sales People
The best sales people are the ones who work on commission only but they very hard to find and usually gravitate towards the best opportunities. You might still try your luck in finding someone who wants to do it on a part time basis as a trial to see if they can generate an income from it.
You might also have to take a risk on someone with less experience and train them about what it is that you’re selling and what the key features are.
The benefit of commissioned only sales people is that, once again, you’re only paying once you get a result so the only downsides are the time you invest in the sales people and the risk that they don’t represent your company properly.
3) Barter Deals
If you’re looking for help but don’t have money, what else can you offer in return? Think about all the other resources and knowledge that you have – could you trade something else instead of money?
As an example, for one of my businesses I convinced a venture capital company to let me use their offices to incubate my company. Instead of paying them rent I helped bring in leads for their business.
What are you good at and what can you offer people to help you besides money? This can also work for your suppliers. When I was furnishing my first house I got thousands of dollars of free furniture from the company my wife and I liked in return for me giving them SEO advice.
What about making money first before spending it? Use some of the ideas above and tap into your entrepreneurial creativity to promote your business without spending money.
4) Use The Internet
Instead of printing off business cards and flyers, put them online and direct people to your website. It’s a whole lot cheaper and no matter what you are selling, people are looking for you online.
You can test out different keywords using Google AdWords on a limited budget and then focus in on your main keywords and build a SEO campaign around them. It will require work but you can do it yourself.
Online marketing consistently comes up as one of the most cost-effective ways that business owners are using to promote their companies.
5) Don’t Spend Until You Earn
This is one of the most important lessons you can learn as an entrepreneur trying to start a business. It’s easy to spend money – anybody can do it – and as entrepreneurs we sometimes feel like we have to.
We need an office, we need flyers, we need business cards, and the list goes on. What about making money first before spending it? Use some of the ideas above and tap into your entrepreneurial creativity to promote your business without spending money.
Once the money is coming in you’ll have a budget to expand but most entrepreneurs close their companies because they don’t give it enough time and they run out of money. Don’t be that entrepreneur!
If you’re looking for more ideas and inspiration on how to promote your business check out my blog post: How to Promote Your Business like P.T. Barnum.
Good luck Sunny!
Readers, do you have any other ideas for Sunny? How have you promoted your business without spending money?
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How to Get Started – July Small Business Survey
Every month I poll my readers to ask them what their biggest challenge is. This month’s survey went out to 24,855 entrepreneurs.
Some of the popular answers that came back included how to increase sales, retain customers, develop time management skills, get prospects to take action, and expand into new markets. The most common reply, however, was:
How Do I Get Started?
It seems this summer will be an exciting one for entrepreneurs as they come up with new ideas to start ventures. The optimism is back and budding business owners are excited to launch their companies. Some of the common words coming back were: “getting started,” “finding my own business,” “getting established,” and “surviving my first month.”
For some expert advice on the topic I’m turning to Robert Moment. Robert is a sought-after innovative small business and marketing coach and the author of Invisible Profits: The Power of Exceptional Customer Service and It Only Takes a Moment to Score.
The Top Ten Small Business Startup Success Secrets
Achieving small business success is yours for the taking. Turn your passions into small business profits. Small business startups around the world continues to grow exponentially, the success rate has remained fairly consistent. Are you ready to achieve small business success ? So what can you do to ensure lasting success for your small business? Take a look at our top ten small business startup secrets.
1. Market Research. Market research is the first step to starting a business, it is the last step, and it is an ongoing process. Market research tells you not only if you have a viable business idea, it keeps you in touch with your prospects and customers and helps you build your business so that it can continue to grow.
2. Master the Internet. The internet isn
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Ask Evan – How to Promote a Book (and Other New Products)
Ask Evan is a segment on this blog where I answer reader questions. This week
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New Videos: How To Model Mary Kay Ash and Hewlett-Packard
I’m really excited to release two new videos from my Modeling the Masters Series! This time we’re going to look at Mary Kay Ash and Bill Hewlett and Dave Packard.admin
The Top 50 Sales Blogs To Watch in 2010
It’s what every business thrives on. Without it, even the greatest product in the world isn’t going anywhere. What is it? Sales. Some of the best ideas in the world have crashed and burned because entrepreneurs have been unable to turn ideas into products into sales. That’s why we’ve come up with this all new Top 50 Sales Blogs of 2010. How do you reach your target customers? Who are your target customers? How do you conquer your fear of cold-calling and is cold-calling even a good idea? Get tips and strategies from some of the freshest and most innovative thinkers in the industry by visiting the blogs below.
Sales Strategy
Jonathan Farrington, Jonathan Farrington
