BLUE THING #5: Featured Company of the WeekThe Sears Tower in Chicago (the tallest building in the United States) no longer belongs to Sears. Neither does any significant or loyal portion of the US consumer marketplace. They have been mismanaged, rudderless and out of touch with their traditional middle-American market. They have not conducted any ongoing market research, and have not performed any significant product-line or business sector profitability analysis to shed the loss-leaders and promote the more lucrative lines. They have been so stagnant that any trustee in bankruptcy will have to wear a pith helment, hip boots and mosquito repellent. And to think that the original Sears, Roebuck & Company virtually started the catalogue and buy-by-mail sales industry.
Lessons:
1. Stay in touch with the dynamics of your customer base and marketplace through constant research;
2. Constantly analyze the profit and cost centers of your business -- prune the dead branches so that the living ones can flourish,
Amen!
Published by THE NATIONAL NETWORKER Newsletter. All rights reserved. Subscribe Free - Click HERE.The National Networker Companies
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