LUCRUM Radio: Episode 6 – Rob Franks
August 7, 2008
Rob Franks is the Corporate Director of Strategic Pricing for the Cintas Corporation, located in Mason, Ohio. Cintas is one of Cincinnati’s largest employers, and one of the nation’s leaders in providing business services such as Uniform Rental, Floor Mats, Shop Towels, First Aid & Safety Service, Document Storage and Destruction, and on and on.
I have a special love for Cintas, as the company provided me with my first “Real Job.” As a young management trainee, I spent time driving the uniform trucks, replacing the floor mats, wandering the halls of the corporate offices, flying around the country training service reps to use handheld computers, and selling first aid products and services. Needless to say, I learned a lot about business at Cintas.
The company runs a tight ship, and is known for delivering high quality service at a premium price. It was a great place to learn the art of selling because we were never the cheapest game in town. Sure it might be easier to sell if you are really cheap, but that is not really sales. That is peddling a commodity. Thus I learned early on that it is foolish to try to compete on price alone. Long term growth relies on understanding the customer and delivering value. In short, making the customer realize that you get what you pay for, and if you paid for Cintas you truly got more for your money. This has served me well in the years since.
So when Rob agreed to talk to me about marketing, pricing, technology and business strategy, I was exhuberant. This interview took me down memory lane, and then off into the future. Rob is a pioneer in marketing, especially when it pertains to price. Rob has a firm grip on the relationship between pricing and value – and why they a vital part of the marketing mix of a firm.
Now in an era of uber connected consumers, the need for a company to have a clearly articulated pricing strategy that is in line with it’s value proposition is greater than ever. The transparency created by the internet makes it easier for consumers to compare products and services and assess relative value. Therefore companies have to be very careful when it comes to price.
Listen along as Rob describes his ideas about pricing and learn why little differences in price make a big impact on profit.
Thanks Rob for agreeing to do this podcast and for enlightening me with your words.
[display_podcast]
LUCRUM Radio: Episode 6 – Rob Franks
LUCRUM Radio: Episode 5, Craig Jolley Part 2
August 1, 2008
Listen as Craig Jolley, Web Marketing Manager with National City Mortgage, and I continue our discussion of emerging technology and how it will impact the future of business.
Craig has some great takes on how the “journey is as important as the destination” in terms of making technology that has an impact. He shares his thoughts on where technology has come from and where it is headed.
Thanks for Craig for taking time to speak with me, and for sharing his insights.
Enjoy!
[display_podcast]
LUCRUM Radio – Episode 4: Craig Jolley Part 1
July 24, 2008
Episode 4 of LUCRUM Radio is the first in a 2 part interview of Criag Jolley, Internet Marketing Manager for National City Mortgage. Craig has an extensive history in using the web as a way to advance the interests of businesses. Listen as we talk about how the web has evolved, the future of the internet, and telecommuting & the virtual office, LinkedIn, Twitter, Facebook and more. Thanks to Craig for taking the time to talk with me.
[display_podcast]
We are…..LUCRUM!
July 15, 2008
This weekend LUCRUM employees and some of our friends participated in a fundraising event for the Epilepsy Foundation in Dayton, Ohio. The event, called Mudstock 2008, raised $85K for the organization and brought over 2,400 people together all in the name of mud…Mud Volleyball that is!
Since I was bringing the mack daddy of all tents, an 18′x22′ white monstrosity of a tent, I started off at 6am and got to the fields at 6:30. Lucky for me, because I could drive the SUV right into the field and to a good people watching spot. This saved me from trekking all the poles and stuff all the way from the parking lot.
We all had a great time and talk about team bonding! All your ideals and character assessments go right through the window when playing mud volleyball. I mean, how dignified can your Vice President be when he’s covered head to toe in mud?
Between games we’d play cards in our huge tent (next year we’re charging admission), or nap….oh, and we played LCR. But without money or drinking involved it only lasted a few rounds before we needed new entertainment. With 2,400 people all around us that wasn’t hard to do. We pitched tent right next to the showers so it was fun to see folks shuffling up to the water covered in mud.
There were a few bands that played, plenty of food and drink. I’d say the organization did a top notch job of keeping it all together.
Next year we’re definitely dressing up. We saw a team in cowboy gear and another with viking hats. Some dressed for prom with tuxedo shirts.
Thanks to everyone who participated and I hope to see more of you out there next year!
LUCRUM RADIO: Episode 1, Doug Ross
June 12, 2008
Lucrum Radio is our new podcasting series. It will feature interviews and discussions with thought leaders in business and technology, providing a forum for sharing knowledge with the world.
Episode 1 of LUCRUM Radio got us off to a great start. It features an interview with Doug Ross, CTO of Western Southern Insurance. In the podcast, moderated by fellow LUCRUM employee Andy Erickson, Doug and I discuss topics such as collaboration technology, crowd-sourcing, organizational dynamics, the integration of IT and Marketing, and the role technology can play in differentiating an organization from the competition.
Give the podcast a listen, and let us know what you think…
Special Thanks to Doug Ross for his willingness to participate in the project, and for doing such an amazing job of delivering insightful, innovative thinking.
[display_podcast]
Recipes for Success
June 11, 2008
Using unique experiences to reach out to customers…. is the theme of a recent WSJ article that featured John Bostick, executive chairman of LUCRUM, and also President and CEO of dbaDirect. The article talks about how different small companies create unique opportunities to meet with their customers. The article was published on Friday, May 30, the very day after I attended one of John’s classes up at Jungle Jim’s in Fairfield, Ohio (another exercise in unique customer experiences – they have every imported food you never knew you needed ‘ 6 acres of food under one roof’ http://www.junglejims.com )_
The class I attended was called ‘Hot Thai Summer Sizzlers”. John prepared some wonderful Thai dishes, and Jim Hennessy showcased several unusual beers that enhanced the flavors of the food (except for the Paulaner Heffe – beer and clove are not good flavors in beer, in my opinion!). In the class, John prepared and discussed the origins of many of the exotic dishes he was preparing, but in an easy to understand and appreciate manner – demystifying many otherwise exotic dishes and convincing me that just maybe I should try this at home sometime. Everything was delicious, and while, a few offerings were too spicy for some of the attendees – don’t say he didn’t warn you about the peppers! – the different beer offerings were a great way to ‘cool the palate’. Several LÛCRUM customers and their family members attended, and as the WSJ article discussed, it was a great way to get to know people outside the normal business environment. John and I both share the common experience of having worked for IBM, and are rooted in the belief that ‘people buy from people they like’. So, having the opportunity to get to know our customers in a more relaxed environment is something ingrained in us, starting with our days at ‘Big Blue’. The best testimony to the value they received from the class is the number of folks that were signing up for the next class! – Obviously, it was an enjoyable, informative session.
Just like trying new foods and beers can provide an enjoyable experience, trying new business offerings and concepts can also lead to a positive experience. For example, one of the offerings that is unique to Lucrum is our ‘Strategic Alignment Session’. Using a guided methodology, our consultants facilitate sessions for customers – taking them on a journey – starting at the beginning, and discussing their history (which quite frequently, everyone has a slightly different recollection of!), and using that shared history to guide the participants on the journey, resulting in a shared experience, mutual goals and ways to achieve those goals. These sessions are one of those things that you just don’t fully appreciate until you’ve actually observed, participated in, or spoken to someone about. I sat in on one session during my first weeks with Lucrum, and was impressed by the way our consultant (Eric Duell, in this case) led a diverse customer group at a local chemical firm through this process as they attempted to design a new customer pricing system. In the past few months, Eric has conducted sessions for 2 of my customers – both in very different businesses – one, a large financial institution, where we helped an off-shore firm develop a new sale and marketing plan. And then most recently, we drove a few hours north and used this same process with another custom in the non-profit sector, bringing together a very diverse group including marketing, IT, creative, and education departments, resulting in a new vision for a major website re-design for their institution.
In both instances, there were participants who walked into the session, thinking “this better be good, they convinced me to give up 2 days (or 2 – ½ days) of my time”. By the end of the first session, or even sooner, you could see that their impressions had changed, and they were eager participants in the process – and walked away from the sessions with a new vision and ideas on how to lead their organization through the next phase of their business plan. And, some were even ready to ‘sign up again’ for more sessions – to utilize this process in other aspects of their business.
LUCRUM in The News…
March 21, 2008
If you happened to pick up the March 21st edition of the Cincinnati Business Courier, you might have read an article about LUCRUM. The article outlines some of the highs and lows that we experienced in 2007, and goes on to talk about some of our future plans for growth. The great thing about having a company blog is that I can immediately share my feedback on the article as part of our ongoing conversation – one that you are welcome to join by placing comments below.
There is only so much information that can be published in a 1/4 page article, so I will elaborate more on it here. LUCRUM is very excited about our partnership with Diane Egbers of Leadership Excelleration Inc (mentioned in the article). Diane has been working with the senior managemnt team to develop a 5 year strategy to address some of the shortcomings mentioned in the article. With her assistance, LUCRUM has made changes to both personnel and policies in an effort to become more nimble and better able to serve the emerging needs of our clients. This effort began in late 2007, and we are already seeing positive results. The Business Development Group has added 4 senior members in the last 4 months, and will be joined by another new member next week. We are not stopping there. Look for LUCRUM to add Business Development personnel in the coming weeks. Along with the new Business Development team members, comes new opportunites and clients. LUCRUM has engaged 10 new clients in the past several months, and is working on exciting data warehousing and business intelligence projects. In addition, we continue to leverage our partnership with Salesforce.com, as we are Cincinnati’s only certified Salesforce provider. The new marketing team led by David E. Bowman, is making great strides in changing our approach to Marketing. We are shifting from the traditional approach of marketing as a monologue to engaging the world in a dialog. My invitation above, seeking comments on this post, is a direct result of that shift in mindset. David is bringing in great young talent like Greg Levine, a recent Xavier graduate, to help further his efforts.
Not only are we investing heavily in restructuring our Business Development Team and Marketing Department, but our Delivery Organization, led by Jodie Heflin, is focusing on providing world class technical solutions for our clients. LUCRUM does not take client satisfaction lightly. In fact, we view it as the key to our future growth and success. Jodie and her team have worked hard to address the systemic problems that led to the issues listed in the Business Courier article. Since her tenure as leader of the Delivery Organization began in September 2007, LUCRUM has been delivering a level of service that is unmatched in the industry.
Ultimately, LUCRUM is a company that is about people. With Andy Erickson as the leader of our talent acquisition effort, LUCRUM is hiring the best and the brightest to join us in our goal of creating world class technical solutions. Be sure to check the People section in future editions of the Business Courier, as I plan on having new hires to LUCRUM making regular appearances there.
In summary, while not all of the information about LUCRUM in the article was positive, the negative information it contains is a part of our past. These problems have been dealt with. We have moved forward. And ultimately we are now a stronger company as a result. We have amazing people, a renewed sense of purpose, and a strategy for success. LUCRUM is focused on the future, and in the spirit of the 2008 theme for the Business Development kickoff meeting in Florida, “the future’s so bright we’ve gotta wear shades.”
Thanks to Laura Baverman for thinking enough of our company to write about us. I have attached a link to the article here. I hope you give it a look. Even more, I hope you will leave your thoughts on the article in the comments below.
Are People the Answer? Not Necessarily…
March 17, 2008
Happy St. Patty’s Day. We owe much of our country’s early infrastructure development to the large group of Irish immigrants that came over in the 1800′s. Masses of capable workers were the solution to getting the canals, railroads, and roads built in this country over a century ago. My wife’s family is Irish. She’s the 6th of 10 kids and has quite a nice family. In the 1800′s “people” were the answer to most economic growth initiatives. Nowadays, I’m not so sure that’s still the answer.
In a March 4th article in the Dayton Business Journal (Dayton, Ohio….the one team that should have made it into the NCAA March Madness and didn’t) there’s an article that quotes Robert Half, the Menlo Park, California-based IT Staffing firm, that shows Ohio has a robust hiring plan in IT for 2008. By polling CIO’s at Ohio-based Headquarters of large firms, they see a “fertile job market” where 10% of them are predicting adding staff in Cincinnati while 4% are predicting staff reductions. There’s other cities mentioned as well that show an increase in hiring people into IT. I have a problem with the very concept the article was written on. It’s really a “nothing article” since IT isn’t about “how many people are in your organization” but rather how are you increasing productivity of your end users, your vendors, your clients! We are in a race to add more computing power unleashing the power of DATA. Everyone defaults their focus on IT meaning Technology and thus, Technology is taken care of by PEOPLE. Then we talk about “how many people are in your organization?” as if one has an army of talent to lead into battle in the world economy…not so, from my viewpoint. The article didn’t say what the other 86% of the CIO’s are doing in the Cincinnati market??? The stronger companies are focusing on creating collaborative environments where the power of INFORMATION and not TECHNOLOGY is the key to their value proposition.Nick Carr in his recent book The Big Switch is espousing that the IT world is going to change significantly one more time. This metamorphosis is going to close down separate Data Centers just like the industrial revolution 100 years ago reallocated individual power generation dynamo’s into a centralized power generation model shared through the electric grid. In their case, the grid had to be built after the centralized power generation facilities went up. In our case, the grid is the Internet and all of that fiber that started to be laid 10 years ago and is now providing huge bandwidth. Centralized data centers needed centralized people to run the physical aspects of them. Frankly, the logical attributes are virtualized just in the same manner the centralized data centers’ hardware and processing infrastructure are being virtualized. Everything from developing logical architecture (SOA), application requirements, application development and testing, and even managing all of the databases once in production can be done “anywhere, anytime, by anyone.” People are certainly needed and yet, processes are even more important. For maximum productivity, the people shouldn’t be in Ohio. Let’s be frank. The people should be where the processes are most mature and their costs become the lowest common denominator (read: Asia although our falling dollar may make other places and even the US more competitive). By providing computing power “just in time” with managed services on a “just in time” basis as well, there isn’t much of a need for an IT organization. Perhaps we rename IT the “Processes and Measures Services Organization.” Even the word “Information” is not needed since Information is an assumed need every time!
Ironically, Robert Half does have a division called Provititi whose main services offerings are centered around “Processes and Measures!!!” Now that’s cool! So, next time, I hope the Dayton Business Journal writes a story about Productivity Improvement measures for the Ohio-based companies! (I would be happy to serve as a source.)
Excellence Without Exception – 2008 Heath Care Conference Recap
March 13, 2008
Last week I attended the Greater Cincinnati Health Council 12th Annual Health Conference & Expo, where LUCRUM was an exhibitor. The theme of the conference “SOLUTIONS 2008 EXCELLENCE WITHOUT EXCEPTION,” and the event was very well attended. This was LUCRUM’s 2nd year as an exhibitor, and my first year working the booth.
Attendance at our booth was GREAT the whole day! I spent the day meeting and speaking with a variety of healthcare personnel discussing Healthcare and IT. There was a lot of talk about the unique challenges that Health Care organizations face in implementing and capitalizing on Information Technology to reduce costs and improve the patient experience. This was a huge opportunity for LUCRUM to get recognized and educate attendees on our capabilities. We handed out dozens of invitations to our upcoming webinar – 5 Simple Steps to IT Health. I am looking forward to hearing my colleague, Marlene Schrand, give this presentation next week, as I know that she will deliver 30 minutes of insightful information.
As for the seminar, The LUCRUM Logo Triangle Highlighters and Globe Stress Balls were a hot item! Talk about getting your name out there where it hasn’t been before! LUCRUM Globe Stress Balls will be flying around Hospital ER’s, Conference Rooms and Nurses Stations for quite a while! Hopefully they don’t result in any new admissions or ER visits.
These regional industry conferences are a great way to make contact with a large number of prospective clients and re-enforce our commitment to current clients. I look forward to representing LUCRUM in future conferences. It is encouraging and exciting when I see our Sales, Delivery, and Marketing departments work so well together at these events.
To register for the March 20 webinar, simply visit the Contact LUCRUM page here on the site. I hope you will join us.
30 Minutes
March 13, 2008
For those of you who managed to get to Orlando for the HIMSS08 conference, you know one of the important topics was how to make IT projects successful within Healthcare. But when it comes right down to a practical, ‘how do you really do this’ plan – where do you start? So I’ve put together a ‘to the point’ webinar to discuss 5 key steps you need to take when implementing a new IT system. And you’ll probably be surprised to find that none of those steps have anything to do with technology – it’s all about people, process, and planning. Get that right and you’re 80% of the way there. So please join me for 30 minutes – (that’s it – I promise!). It will be time well spent.
To Register simply visit the Contact LÛCRUM page and select register for webinar.