Cash Flow and Marketing: What You Need to Know

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Cash flow is important in the lifespan of any business, but one of the key things to understand is that it’s about more than just “money in versus money out.” It’s a valuable look into the bigger picture of what you’re doing, and by having a handle on this aspect of your finances, you can take advantage of business opportunities when they arise.

First, you need to understand how every element of your business relates to this cash flow concept, including marketing. To that point, marketing has a very specific relationship with cash flow that you’re going to need to be aware of moving forward.

Hone Your Budget

Yes, it’s true that marketing costs can often seem unpredictable. However, working hard to hone your marketing budget can make these unexpected situations easier to deal with.

To get started, sit down and think about your upcoming marketing efforts in relation to your other expected cash inflows and outflows. You can’t afford to throw just anything at the wall to see what sticks;  you have to be more precise than that. Create a realistic marketing budget (that includes room for experimentation if needed) that is proportional to the rest of your expected business expenses and revenue streams.

It’s All About That Return

What matters most? Return on investment. For this, focus on the metrics that provide you the context necessary to understand your marketing efforts.

Essentially, stop thinking about marketing ROI as just “how many sales did that last campaign bring in?” and don’t be afraid to break things down on a more granular level. Start looking at metrics like your customer acquisition cost. If one of your campaigns was aimed at increasing more traffic to your website, start breaking things down based on metrics like “time spent on site” and “conversion rate.”

It’s important to know how your marketing collateral is performing in terms of overall sales and revenues, but in terms of your cash flow you need to dive deeper than that. As long as you’re able to A) show that your marketing is giving you something in return, and B) you can identify exactly what that something is and when it occurs, you know where the value of every marketing dollar rests.

This, in turn, will give you the context necessary to understand marketing’s affect on cash flow and vice versa. When you know that “X action will pay off in Y way after Z amount of time,” you suddenly know the impact that every marketing decision you make actually has and when that impact is going to occur. This makes long-term cash flow projections not only easier to make but more accurate as well.


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5 Ways to Find the Strength to Try One More Time.

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Have you ever wondered what it takes to become an Olympic athlete, a NASA astronaut, or a leader in a major organization?

The one trait that all of these individuals likely possess is persistence: the ability to get back up, dust themselves off after a fall, and keep trying. No matter your talent, regardless of your genius and irrespective of your education, persistence is often the trait that sets people apart from their peers in terms of their level of success.

Succeeding at anything in life requires a great deal of effort over a period of time — very few people simply decide to be the best at their craft and are able to do it without a battle. How do these individuals find the strength to try one more time . . . repeatedly?

1. Be Prepared

Planning for success helps you think through all of the reasons why someone would disagree with your ideas, and also gives you the bulletproof mentality that you’re prepared for any question that comes your way. Think of all the reasons why something won’t be successful, and then consider arguments against that point. Become your own devil’s advocate, and it will be that much easier to find a positive response and an open door for your next request.

2. Be Adaptable

Being adaptable provides you with the mental agility to not hide in a corner when you’re kicked to the curb. As Larry Ellison, the founder of Oracle Corporation states:

“When you innovate, you’ve got to be prepared for people telling you that you are nuts.”  

You have to be willing to adapt your thinking and your processes and find a way to create change while not straying from your core ideas. You can’t listen to every naysayer, but you can look for the nuggets of wisdom that they share and use that information to your advantage the next time you try to move forward.

3. Be Confident

You may be surprised that confidence is not the first attribute we consider, but the reality is, you need to have a plan in place that you can trust and support before confidence will help you through to success. Confidence in yourself, your family, and your ideas — as well as a burning passion to make a change in the world — are what can help you continue on even when it feels as though there’s no path forward.

4. Do the Work

Unfortunately, there are few things in life that can replace hard work. Whether that hard work is from an athlete completing the same moves repeatedly for months or even years or a business leader who is told “No” more times than they can count, the ability to simply buckle down and execute on your vision is critical to long-term success.

5. Inspire Others

Perhaps one of the most rewarding things you will ever do with your life is to inspire others to be their best. Take the time throughout your life to inspire others. When you realize how many people you have impacted and how many are watching your success, it’s a lot easier to find the strength to try again in difficult times.

Finally, in the words of Thomas Edison: “Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.” Shouldn’t you give it one more shot?


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The Rise and Fall of Nate Silver: A Lesson in Risk Communication


Political prognosticator and analytics guru Nate Silver rose to national fame by correctly predicting elections. But in 2016, Silver joined almost every other analyst by projecting a victory for Hillary Clinton over Donald Trump. Was Silver’s good luck over?

Cognitive Bias and the “Failure” of Data

Actually, Silver’s estimate for the 2016 election was closer to correct than almost anyone else’s. He saw Clinton as a heavy favorite, but still gave Donald Trump a roughly one-in-three shot of winning. But the world didn’t remember that part of the projection once the election results came in. They just remembered the part Silver got wrong. Nobel Prize winner Daniel Kahneman has an explanation: cognitive bias.

Kahneman studied how people make decisions and judgments, and he quickly discovered that they don’t make any sense. People like to think of themselves as logical and rational, but they mostly use logic to justify believing whatever they want to believe anyway. And one thing people absolutely love to believe is that the future is certain. Human minds loathe uncertainty. Uncertainty breeds anxiety and fear—sometimes paralyzing fear. So when given a number like “one in three” or “ninety percent,” they subconsciously convert the odds to “yes” or “no.”

This cognitive bias is often very useful. You probably never consider the statistical chance that you’ll be run over by a bus because if you did, you might never leave the house. It’s far easier, and probably mentally healthier, to treat the risk of bus accidents as a 0. But the tendency to round probabilities up or down can be disastrous in the business world.

Communicating Risk

Have you told your boss that there’s a 90% chance you’ll make the sale? If the deal didn’t go through, you were probably in a bit of hot water. Has a supplier ever told you her product’s failure rate was less than 1%? You’d probably be pretty mad if your order was a dud. The problem with both of those statements of probability is that they do a poor job of communicating risk. They invite the mind’s cognitive bias to take over and convert the estimate into a certainty. When that certainty turns out not to be so certain, it feels like a broken promise.

That’s why the world decided Nate Silver was wrong. They had rounded up the probability of a Clinton victory to a guarantee. When Trump won, it felt like Silver had broken his word. His failure wasn’t in the data—it was in the way he communicated the risk.

The lesson here is that quoting numbers won’t save you. Don’t just toss out percentages—put them in context. Visualizations are one useful technique. If a product will fail one time in a hundred, a graphic with 99 white shapes and one black shape gets the message across far more effectively than the numbers. Analogies are also effective. A 90% probability? That’s about the same as the chance that an NFL kicker will make a 32-yard field goal. Anchoring the numbers to a familiar context creates a lasting impression. It forces the mind to acknowledge uncertainty.

In business and life, people care about honesty. But if your goal is to be trustworthy, it’s not enough to state the facts. You have to make those facts sink into others’ minds. When it comes to probabilities and risks, that task is taller than it looks.


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The Art of Time-Blocking: A Simple Tip to Revolutionize Your Productivity

time calendarMost people just aren’t that good at multitasking. Trying to remain focused (and organized) is one of the most significant time wasters, especially in the life of a business professional. When you try to do too many things at the same time, you become a “Jack of all Trades, Master of None.” Just when you’re trying to get work done on that big project, another email comes in that you have to respond to. You hop over to your email client and suddenly the phone is ringing, or you realize that you have to proof a new design before it heads out the door. It’s maddening.

Thankfully, there is a better way. By adopting the fine art of time-blocking, you may have just found the simple, yet effective technique you’ve been looking for to unlock a bold new era of productivity in both your personal and professional life.

What is Time-Blocking?

At its core, time-blocking is the idea that you should segment your day into clearly defined (and strictly adhered to) blocks of productivity. Organize the tasks you need to complete by category and set aside a specific amount of time for those categories each day.

If you feel like you’re spending an unfortunate amount of time responding to emails every day at the expense of everything else, set aside 9:00 am to 10:00 am every morning to just focus on emails. Devote every ounce of your attention to this one task and when it’s over, move onto the next one. Outside of the occasional emergency, don’t respond to emails for the rest of the day. Get it done, and then move on.

The Benefits

The beauty of time-blocking falls into two distinct categories. First, it’s an incredibly effective way to eliminate distraction. Instead of trying to divide your attention between ten little tasks, it’s almost like you’re tackling just one big one (i.e. emails, and nothing more). Not only do you get those initial tasks done faster, but the ultimate quality of your output is also much higher because you’re no longer trying to do too many things at once.

Next, time-blocking is also an excellent way to build up a strong sense of momentum that will carry you through the rest of your day. As you begin to move from block to block, you’ll constantly be surprised by just how much you’re getting done. This wave of productivity (not to mention the wave of euphoria) builds on itself, driving things home towards the finish line (and the end of the work day).

Success Comes When You Look Ahead

Another one of the keys to success regarding time-blocking is a little bit of forward thinking. This isn’t something you can make up on the fly. You need to consider the types of tasks you need to do each day and what you have to get done by week’s end. Look ahead a little bit and make a list of your top priorities. Then, separate those into categories and get down to business.

Remember, it’s important to be honest with yourself. Time-blocking won’t suddenly create an extra hour in your day, but it will help you make better use of the hours you already have. If you try to add too many things to your list to the point where it becomes unrealistic, you’ll end up working against your goal and not towards it. You’ll quickly begin to feel overwhelmed, which is something that you do not want.


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Indra Nooyi: A Story in Being Yourself and Persistence

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Have you ever heard of Indra Nooyi? Maybe not, but you’ve probably bought her product at one time or another in the past year. Ms. Nooyi is the CEO of Pepsi-Co., the makers of the popular and well-known Pepsi soda brand. However, her position at Pepsi is not necessarily what is the most amazing fact of her story. Granted, reaching the status of being a Fortune 500 company CEO is huge and significant, but how Ms. Nooyi got her start is the real story. That’s because she risked everything with no safety net to fall back on.

Some Compelling Advice

Indra Nooyi came to the U.S. like so many other great minds, arriving as a student immigrant. Ms. Nooyi jumped to a slot in Harvard’s master’s degree program in business. However, graduating wasn’t her biggest challenge. It was translating her academic success into a result: getting a job. Ms. Nooyi’s first real interview was total failure – no connection, no rhythm, no job. However, she received a piece of advice from a professor that Ms. Nooyi has carried forward since then to her role as a CEO. She was told to simply “be herself.”

Ms. Nooyi clearly took the advice she received to heart. Not only has she been herself as intelligent, smart, persistent, and daring, she has also scored an enviable position of 75 percent plus support by her own employees worldwide. See if you can find a politician with as much support even when winning a national election.

What Makes A Person Successful?

For business owners and leaders, the lesson from Ms. Nooyi is to never forget what really makes a person successful. It’s not the suit, it’s not the past laurels, and it’s not the school degree. What makes the difference that catches people’s attention and gets their support is one’s personal confidence and persistence. Ms. Nooyi gambled everything with not just coming to the U.S. to succeed but to also establish herself in a highly competitive arena: business consulting. Had she failed, Ms. Nooyi would have had to return back to India and likely would have disappeared into a vast number of IT companies there; everything for her was on the line. But she persisted. And Ms. Nooyi, with her new advice on being herself, was quickly hired. That in turn became her path to eventually becoming Pepsi-Co.’s latest CEO.

A Better Choice

Business leaders trying to keep a company going will at some point face a challenge where everything has to be put on the line to get to the next level. Many don’t take that leap. It’s too risky, it’s too costly, or it’s too unknown. Yet from Ms. Nooyi’s example, the last thing anyone should be doing is trying hard to fake their way through the issue. Be yourself. Trust your skills and trust your gut to make the right the decision. That’s what got a person to a leadership role in the first place, so why should he or she be any different at the moment that counts the most? Risk, responsibilities, fears of what-if can all combine to make someone think behaving differently may be the best path forward. Clearly, from Ms. Nooyi’s example, there’s a better choice.


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

Time Management
The 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.


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AR, VR, and Other Ways to Use Technology in a Print Campaign

QRticketsFrom the affordable headsets that take users into another setting or world via virtual reality to games like Pokémon Go and even children’s coloring pages, technology is impacting the way we live and seek out entertainment. It may seem like virtual or augmented reality is firmly fixed in the digital world (and therefore of no interest to those who create and use printed pieces), but a surprising amount of technology can be incorporated into printed media.

Augmented Reality and Printing

Augmented reality technology provides an overly to the “real world” you can see via your phone’s camera, adding digital elements to the space around you. Pokémon GO is the best recent example of AR in action, and retailers like IKEA also use it to allow you to see what furniture pieces would look like in your own home.

Adding AR elements to your printed pieces gives people a whole new way to interact with your postcards, business cards, catalogs, and more. It also adds an element of fun and makes it more likely that the recipient of the piece will want to hang onto it and even show it off.

While not everyone will “get” AR right away, recent hits like Pokémon Go show that AR can be accepted by a wide group of ages and demographics. From including an interactive game in your materials (as Toys R Us did in a recent catalog) to using a playful mascot or other element, creative use of AR can help your printed piece make a splash in the real world.

QR Codes

Those little square barcodes are an ideal match for printed pieces and can bring visitors to your site. Since QR codes are designed to be read with a smartphone, you give the person holding your printed material the ability to visit your site in an instant. Use a QR code on your printed piece to link to a special offer, unlock content, or even provide additional information. QR codes are small and won’t take up much space on your printed materials, and incorporating one allows your prospects and recipients to interact with your business in a whole new way.

QR Codes and Virtual Reality

Immerse your reader in your printed materials by providing a QR code that links the viewer to a virtual reality experience or unlocks additional content. If you already have a VR showroom, game, or content, then making it easy for users to access it by simply scanning a QR code ensures you get plenty of extra traffic, without taking up space on your materials.

Variable Data Printing

This type of technology won’t change the look of your printed pieces, but it can help personalize the materials you create. Your customer won’t notice anything special about the printing, but they will think you’re really in tune with what they want and need.

The ability to create on-demand pieces that match your customer’s preferences boosts the likelihood that your offer will resonate with them. Used primarily in direct mail, but adaptable to other pieces, variable data printing allows you to target the elements used in a specific piece to the intended recipient. This technology is particularly useful for targeted marketing campaigns with a personal touch.

Adding a dash of high tech to your printed materials gives you additional ways to connect with customers and helps you get the most from your printing investment. Your pieces are also more likely to start a conversation, grab attention, and even be saved by the recipient, boosting their long-term value and ensuring your brand is remembered when your prospect needs something.


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What You Need to Know About Color in Design

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In a recent study conducted by KissMetrics.com, visual appearance and color ranked more important to consumers than just about everything else when viewing marketing materials. In fact, ninety-three percent of people who responded to the survey said that visual appearance (which color is a part of) was the most important factor they used when making a purchasing decision. Only six percent said texture, while on percent placed a heavy value on sound and smell.

Color and Marketing: Breaking it Down

Along these same lines, an incredible eighty-five percent of consumers said that color was THE primary reason why they chose to buy a particular product or service. It goes without saying that the right color design is the perfect place to start with your marketing materials.

In terms of your long-term success, one of the most valuable resources that you have available to you is and will always be your brand. It’s something that lives on long after a purchase is made. It’s the narrative and the set of strong, relatable values that are at the heart of your business. Additional studies have shown that the careful use of color can increase brand recognition by up to eighty percent, which, in turn, goes a long way towards increasing consumer confidence at the same time.

But What Do Colors Mean?

However, none of this is to say that your marketing materials should be jam-packed with as many colors as possible. Quite the contrary, in fact. Different colors have all been known to affect people on an emotional and psychological level in a variety of ways. Consider the following:

  • Yellow is often associated with optimism and youthful enthusiasm. This is why it’s often used to grab the attention of people like window shoppers.
  • Red is almost always associated with a sense of energy and excitement. In fact, red is a great way to create a sense of urgency in your readers (and when used right can even increase their heart rate, too!)
  • Black is considered to be very powerful and very sleek, which is why it is usually used to market luxury products.
  • Green is normally associated with wealth – which makes perfect sense because money is green. It also happens to be the easiest color for the human eyes to process, which is why green is often used to underline important information in marketing copy.

To that end, it’s important to use different colors depending on exactly what it is you’re trying to accomplish. Are you trying to highlight an upcoming clearance sale and want to create a sense of urgency? Make sure those fliers and posters have as much red on them as possible. Are you trying to attract the attention of a more sophisticated level of clientele, or do you want to positively influence the overall impression that people get when they see your products? Try using as much black as you can.

Color is a powerful tool when used correctly, but it’s important to remember that it is just one of many. But, provided your use of color matches up with both your audience and your long-term objectives, you’ll find that it can be a terrific way to put your campaigns over the top and start generating the types of results you deserve.


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How to Live Your Passion in Any Profession

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We all want to live a purposeful life. Some individuals are lucky enough to be in a professional role that allows them to live out their passion through their profession. Even if you aren’t able to make money while at the same time living your passion, you can still integrate your passion in your current profession. After all, “Often finding meaning in life is not about doing things differently; it is about seeing familiar things in new ways,” says author Rachel Naomi Remen. More on this below:

Understand You Don’t Have to Change Careers:

No matter what your current profession might be, you have the propensity to make a difference and live your passion. This means, living your passion doesn’t have to include a career move. Not everyone can get a job that embodies their passion. That’s why it’s good to “bloom where you’re planted” so to speak. Whatever your profession, find ways to live your passion within it. The following are a few ways to do that:

Treat People Like They Matter:

To live a life of purpose, you should treat those around you like they matter. For example, a cafeteria worker might feel her job doesn’t matter. Yet, what if while doing her job, she gives kids the only kind words and the most genuine smile they will get each day? Doesn’t that make her job of serving food more purposeful? Another example could include a handyman that takes the time to talk to the widow whose house he is repairing. It might not seem like much to the man, but to the lonely widow who was yearning for company, it can make a great difference. In the service industry, each customer served is another opportunity to make a difference.

Volunteer Your Time To Causes You Believe In:

If your nine to five job isn’t world-changing, that doesn’t mean you can’t still make a difference and live out your passion. Find organizations that are addressing the areas you feel need attention. Join their cause through volunteering your time. If possible, you can find ways to combine your day job with your volunteer efforts. For example, let’s say you work in an office and you want to give back to kids who have cancer. Ask your co-workers to make donations along with you. Organize a visit to a local hospital and take gifts to the kids. Make baked goods, sell them to your co-workers, and then give the proceeds to the organization. You could also take part in a run that benefits the cause and ask your co-workers to join in. The main thing to remember is you don’t have to keep your passion and your profession separate. In fact, many businesses are more than willing to give back to worthy organizations. It’s good PR, and they can write it off on their taxes.

Don’t Give Up:

Above all else, to live a life of passion and purpose, you can’t give up. Even if things haven’t worked out exactly as you would have planned, you can still live a life that changes the world. Of course, this doesn’t mean you have to remain in the same career, but you shouldn’t feel the only way to live a life of passion is to change your profession.


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Avoid These Common Print Marketing Mistakes for Visually Compelling Content

attentionCompelling images are the perfect way to attract attention and create an emotional connection with your customers and prospects. Avoid these common mistakes as you design newer and richer content moving forward.

Mistake #1: You Didn’t Keep It Simple

Why do you think audiences have gravitated towards visual print marketing content over the last few years? If you thought “because people are bombarded with information these days from nearly every angle,” you’d be right! From the moment people wake up in the morning, their smartphones are sending them emails and push notifications. They’re wading through dozens of blog posts. They’re reading massive reports at work all day long. Information is everywhere, and it can often feel overwhelming.

Solution: Make your print marketing visually impactful, and easy to read and interpret.

Visual print marketing is an excellent way to relieve people from these stresses – or at least; it’s supposed to be. It can allow you to take your message and wrap it up in a way that is easy to understand and a refreshing change of pace from everything else.

Think about it in terms of infographics. Infographics are an incredibly popular form of visual content because they take complicated ideas and break them down to just what you need to know and nothing more. Apply this same concept to your print marketing designs.

Mistake #2: You Failed to Account For Light

When you’re leaning so heavily on your visuals, you MUST account for the number one factor that can destroy the feeling you were going for – light.

How that gorgeous new flyer or banner you’re creating looks on a computer screen and how it looks in a store window in your neighborhood can be very, very different depending on the lighting quality of the area, the direction of the sun, and more.

Solution: Ask yourself how light will affect every decision you make, from the richness of the colors you’re choosing to the specific type of paper (and finish) you’ll be using.

Accounting for these simple mistakes will put you ahead of the game and on your way to stunning and compelling visual print marketing.


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