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Marshall Cohen's OIA Session "Turning Adversity into Opportunity"

Marshall Cohen’s session at the OIA Rendezvous was illuminating.  He spoke on “Turning Adversity to Opportunity” (a recurring theme this year).

He flew through his presentation at light speed – we didn’t have enough time for all he could have shared. 

He started by talking about how the current retail paradigm "as we know it" has failed.  And, we need to rewrite the rules. 

Retailers and manufacturers alike, need to take action.  Being conservative in this current climate won’t cut it.  “Don’t get stuck…DO something.  If it’s wrong, course correct,” he said.

The beauty of the recession is that it’s "a cleansing period."  Get rid of what’s not working, reassess and move forward.  “It’s the perfect opportunity.  And opportunities multiply when seized.”

Here are some nuggets from the presentation, which stood out to me:

• Innovating your messaging is very important.  With social networking, one person can reach millions. Get involved, connect with your consumer.
• It’s time to innovate your product. Gone are the days of depression shopping – when someone just goes shopping when they feel down.  Today, consumption is based on NEED. Make the consumer need your product.
• Everyone’s talking about the “New Economy.”  There is no “New Economy” the economy we just had for the last 5 years was abnormal. We probably won’t see this again in our lifetime.  How is it right that a person can buy houses/cars, etc. that they can’t afford (no money down!  no interest!)?
• We are going back to the consumption style of 1999…with limited credit.  You need to justify why you make your product.  Gone are the days of buying “anything, whenever.”
• The downward trend of the economy shows signs of leveling off (we hit bottom in 3/09).  We are on the road to recovery.  Unfortunately, the consumer is the last to feel the recession and the last to come out of the recession. We will have a slow gradual recovery.
• We won’t be feeling the inflated growth we had in the last 5 years, however, instead we will have growth rates similar to 1999 (I think he said around 3%).
• We have over-retailed.  Every mall on the 405 in LA has a mall – do we really need this much retail space?  Does there need to be a Starbucks on every corner? This will change.
• This holiday season will be marked by:  cautious spending, shorter shopping lists (you might not buy for an in-law you have in the past), lots of gift cards.  It will be a passion play…only that which they are most passionate about will get consumer dollars.
• In a recent exercise study that Cohen did on lifestyle, health and fitness, they discovered that 23% of the US never exercises.  And that the main reason they don’t is: “no motivation” (45% of respondents gave this answer).
• What does this mean for retailers?  MOTIVATE!  You need to motivate the consumer to choose your product through innovation and uniqueness.  The way you do this – is through connectivity!  Connect with your consumer.
• Tier your message.  53% of US surveyed feel “somewhat fit,” 23% not very fit and 18% very fit.  This means there is a huge opportunity on the lower end of the consumer spectrum.  Those catering only to the super fit consumer will lose out.  Create a product mix that offers good/better/best.  Make the tiers distinctive.  Either put them all in the same store (with the distinct differences) – or put them in different stores all together.
• In retail, think color! “Retailers are scaling back to black and white…right now, and that’s the wrong move.”  Cohen gave the example of an ice cream store.  90% of ice cream sold is either chocolate or vanilla.  So, if there are two stores available, one offering only choc/vanilla and the other offering 31 flavors…which store would you choose?  Retailers need to take the risks on color…

Great stuff!  Wish I could have captured it all.  At the end, he said, “think real.”

Relevant
Exciting
Altering (this product changes your life dramatically…subtlety WON’T cut it!)
Lifestyle marketing (which has evolved to DNA marketing)

Thanks for reading!  If you haven’t already, please become a fan of plum on Facebook.  And, if you haven’t LinkedIn to us, send us an invite!  We love to connect with talent.

Diversity! A Business Case to Diversify Your Workforce

I attended the second diversity session (there was one before, but I was at Boaz’s presentation and I wanted to diversify my attendance (see? it’s already working!)).

This session was a panel moderated by an old colleague from my last company, Enrique Washington.  It included Anna McGough, HR leader from REI, & Lee Wills-Irvine  from Qualcomm, Monica Simon diversity consultant, and Steven Gutierrez from Holland & Hart, LLC a partner with the law firm of Holland & Hart and current chair of the firm’s Labor & Employment Practice Group.
 
They talked about the incredible (and fast moving) changes to the US demographics, and the need to diversify your workforce now, if you want to engage the minority consumer.  At this point, many are projecting that in the year 2050 Caucasians will be the minority and the new majority will make up 53% of the US.

What is your company doing to attract a diverse workforce? If you aren’t working on it now, you better get started. 

Check out what Qualcomm is doing to attract diverse talent:   They were voted one of Outside Magazines top 50 companies to work for, BTW. (Interesting considering they aren’t an outdoor brand…)

Here are Qualcomm’s stats:

• 23% of their managers are women
• 35% of their workforce is minorities
• 43% are over 40
• 51% of all new hires are minorities

That’s impressive.

REI has also done some great things on the diversity side not only for REI employees, but from the perspective of outdoor participation. Anna indicated that REI has had particular success in diversifying its southern CA locations with community outreach strategies.

I have spent quite a bit of my time focusing on diversity recruiting in different roles I held at NIKE.  It takes time to make these changes – it takes a long term commitment to a strategy of diversification with genuine dialog within your organization (why, how, etc.) to make an impact in your workforce.  (Not to mention strategies for integration and retention…but that’s another blog.) However, the business case emerging today proves that if you don’t get started now – you may be sorry. 

Supercharging your Business, Employees and Self

Yesterday I had the pleasure of listening to Boaz Rauchwerger, at the OIA Rendezvous.  His session was "Supercharge Your Business, Your Employees and Yourself."  He was amazingly entertaining and had many great suggestions for improving your life. 

I arrived just in the nick of time and was greeted personally at the door by Boaz, and pointed to a chair selected just for me designed to keep the front of the room packed completely (all chairs full).  And, he proceeded to offer suggestions on how to run a good meeting.  Here are a few:

• No empty chairs (make the room feel full to increase engagement).
• Don't make people sit for more than 30-40 minutes.  (we got up twice during the session, once to shake hands with our neighbors, another time to stretch).
• No distractions.
• As the presenter you must be enthusiastic (if you aren't - fake it until you are!).
• The group runs at the speed of the leader.

He offered suggestions on relating to people (with 5 questions to use to create rapport):

• You are in the people business (everyone is, so get good at it!).
• You are genuinely interested in other people (you need to be able to relate to them to create rapport).
• Everyone's favorite topic is themselves (so ask about them!).
• People are as interested in you as you are in them.

Boaz's style was out of control!  He said, "I talk at 300 words per minute, with gusts up to 600."  His style was rapid fire and thoroughly engaging.

Other lessons he peppered into the presentation (and had us write it down):

• I will have a good time.
• If it's not what I want, I won't say it (meaning, don't go around saying negative things like, "business is slow"  Instead, if someone asks about your business, say, "UNBELIEVABLE!" - one word...which covers everything...).
• Words are previews of things to come (so select the good ones).
• I'll fake it until I make it.
• It's easy for me to change. (Affirmation!)

He also handed out a bright yellow sign with these words emblazoned on it:  "Every day I PLAY like a champion." 

He said, put this up in your office and repeat it (and touch it) everyday and you will inspire greatness.  You can read the story behind it on Boaz's blog.

Two books he absolutely recommends for improving business and your life: Think and Grow Rich and How to Win Friends and Influence People.  He said he has read them every month for 5 years (60 times each).

I can't possibly cover all that he did?but, suffice it to say, another great presentation put on by Vistage International.

Great work, OIA!

The Keynote Address - Kevin Carroll, OIA Rendezvous 2009

Last night, I enjoyed the opening keynote speech at the OIA Rendezvous conference in San Diego, CA.  For those of you who have never been, it is an amazing event filled with inspiring speakers and “downtime” to network with your peers and leaders in the outdoor industry.

If you haven’t heard of Kevin, check out his website.  He’s spent years at NIKE in a role as catalyst for innovation and change.  His “inspiration” came from discovering play at the age of 6…overcoming the abandonment by his dad at an early age and a nomadic mom (who left him and his brothers in a trailer for 5 days before they found their way back to his grandparents). 

For Kevin, the “Red Rubber Ball” that he found on the playground, shortly after moving in with the grandparents, enabled him to become part of the “kid community” in his neighborhood, be accepted, and inspired him to do great things (just check out all that he has accomplished).

You can check out his book here.  In it, he challenges you to find your inspiration (your equivalent of a red rubber ball), commit, seek out supporters, be courageous, and much more.  You can read his blog here to find some inspiration and read about his Red Ball Project where inspires social change through giving away balls – and encouraging play.  He exchanges new red balls for whatever handmade balls children use around the world (he has an amazing collection…made from all sorts of materials:  strips of tire, banana leaves, old garbage sacks, etc.).  Check them out on his website!

Great way to start the event…excellent speaker!  Fun times.