Sterling Terrell

smart ideas from books

smart ideas from books

Potpourri

Culture Fit, Matters

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Everyone wants a high performer, I get it, but your next employee needs to have culture fit too.

A rock star salesman is great and all, but is it worth it if they are a jerk?

Is it worth it if they do not share your values? If they cause conflict? If they gossip?

Allowing people who are a bad fit to remain is a cocktail for unrest.

And showing everyone that money is more important than how you act and who you are, says a lot about you too.

I have seen this issue also popup in the high school sports world. 

Of course it would. Because nobody wants to give up their best player.

“Everyone needs to follow the rules X, Y, and Z. But – well – for the star of the basketball team, the rules are a little more malleable.”

As soon as you tolerate mediocrity, or unkindness, or whatever else, you and your brand are tarnished too. 

I don’t think there’s an easier or more tempting mistake to make than to hire someone who has great ability or a great track record of performance with the recognition that while they’re not a match with the current values and culture of the company, over time you believe you can bring them into alignment. I’ve made this same arrogant move multiple times over my career, and each time it ended in something between disappointment and disaster.

-Rand Fishkin, Lost And Founder

Stop Using Promotional Pricing?

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Promotional pricing is a stupid thing for a businesses to do.

If you have never encountered this idea before, you may be taken back by this fact, but it’s true.

The idea of discounting, and using coupons, etc., is derived from the simple economic principle that quantity demanded increases as prices fall.

This is nothing more than the fact that when things are cheaper, people tend to buy more.

But a problem arises when we start playing with people’s expectations. 

See temporary discounts train customers to expect discounts again in the future.

Many companies fall so far into this that customers become virtually uninterested until there is a 50% off sale. My wife does this exact thing at a popular children’s clothing store. 

I think you should stop conditioning your customers to anticipate reduced prices.

It’s about your brand. 

Promotional pricing, especially when offered to a very large audience, creates an impression that discounts and special offers are part of a brand’s ethos, and that rather than signing up at full price, you, as a potential buyer, should wait until the next promotion launches. We found that a large swath of the SEO community viewed Moz this way after our ongoing offers (usually two to three every year). If you’ve ever stopped yourself from paying full price for a brand or at a store because you suspect there’ll be a sale in the future, you’re familiar with the mind-set.

-Rand Fishkin, Lost And Founder