The Balancing Act of the Political (and Business) Landscape!

As of this writing we Americans are still waiting to hear who will be our next President. Without taking sides, I'd like to use this situation as an obvious and excellent example of a common dilemma that business people work through on a near-daily basis. Namely, the trade-offs between time, quality, and cost.

These three components enter into almost every decision we make as business folks. The more consciously they are recognized and factored into the decision-making process, the greater our chances of being successful!

Time
Even before the polls closed nationwide, we all witnessed the importance of the time element as each network raced to be the first to declare key states like Florida, Iowa, and Wisconsin, for one candidate or the other. In the news business, time frequently supercedes quality.

In our businesses, aren't we sometimes guilty of this, too? Rushing to market before working out all the bugs in a new product . . . hmmm. Or, worse yet, accepting less than what the customer wants (and was originally spec-ed in) just to meet an introduction date?

Quality
In the election scenario, the quality of the vote count has been the driving argument for the last thirty days. We've all learned dirty little secrets about "chads" (how many of you knew that word existed before November 7th?) and questionable election processes and procedures -- even for those of us from Chicago!

Folks working together on a business product or program must agree on the sought after level of quality. It's usually not easy, but it is a necessary step in the process. This is especially true for programs that take more than a day to complete or for programs effected by changing market or internal conditions.

Cost
The stock market sinks, the overseas community views the U.S. as weak, and some election workers miss Thanksgiving dinner with their families!

Some say these are all just a sampling of the costs -- financial, diplomatic, and personal -- that are associated with this protracted election process. True, there are costs associated with any effort; and, generally speaking, the longer and more detailed the effort, the more it costs!

So what price do we business people pay for the same types of experiences? Personnel and production costs above those estimated. Lost opportunities in the market when a product or program launch is delayed. And on and on!

The Balancing Act in Business
How do we balance time, quality and cost factors in business? Consciously -- always!

e-This!

This is the second time this section is appearing in the big picture. It is dedicated to briefly exploring an e-marketing topic you could use in your business.

"Hunting the Hunters" is an appropriate term for the internet marketing strategy of making sure one's site is in the Top 30 directory and search engine listings displayed when searches are conducted by potential customers (hunters). The tactics to making that happen are many and varied.

One that we've investigated (and used for ourselves) is "Paid Directory and Search Engine Listings." (This is NOT the same tactic as search engine submissions.) These paid listings can be purchased on a "per thousand impression" basis or on a "per click-through" basis.

Besides getting your site listed in the Top 30 listings (first three pages), some other advantages to the advertiser are:

	Immediacy -- Pay today, be online later today!
	Defined dollar outlay -- Set and spend a defined budget. When it's gone you can opt to spend more, or call it quits.

	Pay only for the hunters -- The chances are extremely good that those coming to your site through these means are truly interested in what you do or sell.
	Accountability -- Track results by keyword, search engine, etc. to determine what's working and what isn't.

In order for this tactic to work most effectively, your site needs to be set up to give the visitor the information they want and to get the information you need from the visitor (See Service Spotlight at left.)

By the way, does anyone know why the music business uses the term "Top 40?" (Hint: It relates to the Internet's Top 30.) There's a FREE Mosaic coffee mug in it for you if you know!

This & That

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Thanks to all of the readers who guessed at the author of last month's quote. While many learned bosses may have repeated the quote in question, "Plan your work for today and every day, and then work your plan", it was first uttered by Norman Vincent Peale. Those who earned themselves a sporty Mosaic T-shirt by answering correctly include, Gary Baker, Henry Schniedermeier, Bill Weaver, Karen Gaetano, and Craig Kiefer. Congrats!

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Happy Holidays to you! May the year 2001 bring you much joy and happiness. Thanks to all of our clients for their business and trust; it is truly our pleasure to work with you. And a special thanks to all of you who have introduced Mosaic to fellow business associates throughout the year. Your endorsements are a huge compliment and a tremendous responsibility -- something we never take lightly. Now . . . let's party!

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