KEY STRATEGY- Better align all several companies, passions and goals.
Last year, I hosted a planning meeting with some of my top advisers to figure out how to make Oddpodz a profitable and sustainable venture.
Oddpodz has been a work in progress:
If we had a theme song, it would sound something like this.
Try, learn, fail.
Get clearer on who we are. Do it. Adjust.
Try more, learn, fail.
Try again, learn, make small progress forward.
Try again, learn, get clearer on what we need to be to. Do it.
(Repeat chorus) Try more, learn, fail. Keep at it. Improve everyday.
Like Seth Godin proclaims, Try stuff. Fail. Repeat. This is the fuel for success.
That day of planning lots of great ideas were generated. And we’ve implemented many of them, which have made us better, stronger and smarter.
However, the number one recommendation that day was to better align my core competencies (as the leader of the company and the Branding Diva®) with all of my interests, my speaking, my consulting and Oddpodz. I’ve done that this past year and it is working. I have more balance, peace and influence, and made more money in two of my other businesses, which is allowing me to fund Oddpodz long tail. Long tail is a term that was coined by Chris Anderson, founder of Wired. Long tail means: the distribution and inventory costs of businesses successfully applying this long tail strategy allows them to realize significant profit out of selling small volumes of hard-to-find items to many customers instead of only selling large volumes of a reduced number of popular items.
Oddpodz, the site, will remain a content rich series of blogs to help creative-minded entrepreneurs. Under the corporate entity we will are developing niche tools specific to segmented industries. This will be our long tail. The first one is for restaurants. I’ll be sharing more on this soon.
So what does alignment look like?
- Doing what you do best. For me, it’s writing. Oddpodz is a publishing model.
- Be a clear brand voice. Not watered down with a distractions. Oddpodz is an extension of ME.
- Help people with your expertise. Mine is branding, marketing, entrepreneurial expertise. Oddpodz focus is just that.
- Laser focus on highest margin revenue and brand opportunities first. Oddpodz is a long tail company, my other companies are not. That’s OK.
- Strategically leverage and streamline everything. As Oddpodz is getting older, we are simpler and a cross-promoted company with a known brand, MOI!
Are you an entrepreneur with several ventures, some doing well, and others challenged? Can better alignment with your core, your brand, be the answer?
It’s an idea.
For more on strategies, check out: 12 questions to ask yourself while planning your 2011 marketing strategies.
[…] – In The #1 strategy that is giving me more money, influence and balance, Karen discusses her focus on trying to align all of her business ventures. These strategies can be […]