Thursday, 1 April 2010

LESSONS FROM POLITICS

In the Summer of 2008, Senator Barrack Obama defied all the odds to secure his parties nomination to be their representative in the forthcoming US Presedential election defeating the bookies favourite, the popular Senator Hilary Clinton. In November the same year, Obama was elected President of the United States of America.

How did he do it? What lessons can business learn from his campaign?

The Obama team knew their market - The electorate had been led by a republican government for 8 years and they were tired; the people were looking for 'change'.

The Obama team knew their competition - The Clinton campaign relied on past successes; the Clinton brand that had been so successful in the 1990's, but the 21st Century was now a different era; the people were looking for 'change'.

So, the Obama campaign very cleverly, adopted the word 'change' as their campaign slogan - and it proved a winner.

The Obama team were adequatley resourced - The team managed the scare resources available to them by using each unit of resource in the most effective way.
So, what lessons can we learn?

First, we must know our market. We must supply the goods and services that the market demand, not want we want them to have. We must sell 'Value' to our customers; i.e. if you buy this product/service, then, this is what it will do for you/your business, this is how it will effect you, or, this is how our product/service will give you an advantage over your competitors, or make your life easier.

We, too, must know our competitors and their strengths and weaknesses. Note their strengths and weaknesses then seek to adopt the strengths into your own organisation - seek excellence. Put systems/training in place to eliminate weakness; allocate sufficient resources.

So finally, be sufficiently resourced - this will involve budgeting, not just finance but any resource that is scarce, e.g. the right people. To discuss your business and strategic planning why not contact Tony Down FCCA, or a member of his team on; +44 (0) 08450 347343 or email tony@gordon-down.co.uk

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