Archive for July, 2009

Retail Prophet Joins the RetailWire BrainTrust Panel

Thursday, July 30th, 2009

We’re happy to announce that Retail Prophet has become a member of the  Retail Wire Brain Trust panel.  Retail Wire is the retailing industry’s premier online discussion forum.    Each business morning, Retail Wire editors pick news topics worthy of commentary by its “BrainTrust” panel. Retail Wire

RetailWire is a great source of industry news for executives and retail owners alike.  It provides a quick and efficient way to keep in touch with what’s happening in the industry on a day-to-day basis.  Moreover, the panel format, really crunches issues through multiple perspectives, balancing news and opinion in a productive way.

We’re looking  forward to adding our  voice to the conversation!

3 Big Ideas for Business Sustainability

Saturday, July 25th, 2009

By Justin K. Lacey (Guest Blogger)

After 5 days, 24 lectures, 3 field studies and 2 “open space” sessions, what have I discovered about sustainability while attending the UBC Summer Institute in Sustainability? I learned a great deal in fact; some of it incredibly relevant for entrepreneurs and small business owners.Dandelion

Instead of providing you with another checklist or a bunch of recommendations to help you incorporate sustainability into your small business, I thought it would be more inspiring to provide you with three “big ideas” that I took away from my week back at school.

Big idea #1: Do nothing. That probably sounds counter intuitive, but what I see as a major issue is the pace of modern life. We are all extremely busy in both our personal and professional lives. Many of us are “type A” personalities driven by action items and deliverables. Our problem is that we are so driven by the requirements of our daily routine we find neither the time, nor the opportunity, to stop and think. I mean think long and deep. This type of serious reflection is what is required for us to think our way through this difficult time.

Big idea #2: Don’t look for the blueprint. There is no roadmap, blue print if you prefer, for any business to successfully implement sustainability. The best route is to educate yourself, and seek people who have done similar work in the past. Unfortunately no two sustainability strategies are the same, so you will need to chart a course that is tailored to your business.

Big idea #3: See opportunity where others see challenge. Every successful person, no matter their realm or discipline, will tell you that your state of mind has an incredible impact on your success. You must not view the issues associated with sustainability as challenges; rather view them as opportunities for you to create business value while addressing the environmental and social issues key to the long term viability of your business.

Let me leave you with a quote from Richard Buckminster “Bucky” Fuller, an American architect, author, inventor, and visionary who was concerned with the question “Does humanity have a chance to survive lastingly and successfully on planet Earth, and if so, how?

“On spaceship Earth, there are no passengers. We are all crew”.

Thanks for reading.

Justin K. Lacey is the founder of Walk Softly Communications and a friend of Retail Prophet.

Business Case Be Damned!

Friday, July 24th, 2009

By Justin K. Lacey (Guest Blogger)

Over the last couple of days at the UBC Summer Institute in Sustainability, we’ve spent a great deal of time discussing, in one way or another, the “business case” for sustainability. It’s an area of great interest for businesses large and small, and many feel that it’s the key for companies to identify those opportunities that add business value while promoting environmental and social benefits.Sustainability

What I find ironic is that, all of a sudden, there exists this belief that every business on planet earth completes an exhaustive business case before they make any business decision bigger than where to order lunch for the afternoon brainstorming session.

I have worked for companies large and small, all quite successful, and we made many decisions without the aid of a detailed business case. And even when we did complete a business case, assumptions and “gut instinct” were never too far removed from the final recommendation. Business people have pet projects and initiatives that they feel are “strategic” and always find a way to get them implemented – business case be damned.

Truth be told, none of that really matters any more – the business case for sustainability is incredibly strong, and getting stronger each and every day. Reduced energy usage, improved efficiency, enhanced brand image and greater employee engagement are all positive factors that need to be included in the business case for any sustainability initiative. And as the cost of various “externalities” (a term coined by economists to describe the full “cost” to the environment of a given business activity) are factored into the price of all sorts of goods and services, the case for sustainability is only going to get stronger.

As a small business owner or entrepreneur, the key is to identify specific environmental or societal issues that are strategic to your business. Every business relies on something the earth provides, or a service from a particular group of people.  The key is to identify opportunities that both add value to your business and contribute to addressing the environmental or societal issues affecting your company’s long term viability. If you feel your business is too small to make a difference on its own, then you need to work with other, like-minded businesses or work through your trade group or business association.

Over time, each and every business will do the math and determine that the business case for sustainability is in fact the only business case that matters.

Tomorrow will be my final guest post and I will be providing a few final, likely random, thoughts about business, sustainability, and my 5 days at UBC.

Justin K. Lacey is the founder of Walk Softly Communications and a friend of Retail Prophet

Does Sustainability need its own Marlboro Man?

Wednesday, July 22nd, 2009

By Justin Lacey (Guest Blogger)

If you’ve lived anywhere on planet earth during the latter half of the 20th century, you’ve probably heard of the Marlboro Man.Marlboro

The brainchild of Leo Burnett, a famous advertising executive also known for creating such icons as the Jolly Green Giant and the Pillsbury Doughboy, the Marlboro Man was designed to help sell filtered cigarettes to men. At the time, filtered cigarettes were considered feminine, and Phillip Morris (now Altria) was experiencing great difficulty in convincing men to try Marlboro cigarettes.

Phillip Morris originally introduced the Marlboro brand as a women’s cigarette in 1924, but was looking to reinvigorate the brand and make it much more appealing to men. The Marlboro Man rode to the rescue.

For roughly 45 years, from 1954 to 1999, the Marlboro Man convinced men of all ages that filtered cigarettes were masculine, almost a sign of strength and virility. He completely reversed a commonly held impression of filtered cigarettes, and made Marlboro cigarettes synonymous with the aspirations of so many men of the day: cool, confident and rugged.

Can we not do the same for sustainability? Should we?

So often I see companies employ traditional marketing technique to promote green products and services. They leverage and modify what has worked in the past with the hope that it will appeal to a new, more environmentally and socially conscious generation. I am not convinced.

I think we need a completely new approach. We need the Leo Burnett of our day to convince us that sustainable consumption is just not the right thing to do, but it’s the thing we want to do. Sustainable consumption must make us feel good about ourselves; that we are making the right choice for ourselves, our family and the planet. I have yet to see any “green marketing” that comes even close.

Maybe the new approach for “selling” sustainability, the Marlboro Man for our time, is already here. Maybe we already have what we need to connect and engage consumers on the importance of buying socially and environmentally sustainable products. Maybe you are our new Marlboro Man.

Most agree that the production, distribution and sale of many goods and services will need to become increasing local if we are to effectively reduce green house gas emissions.  As a local business owner, consumers will increasingly look to you for information and guidance on the products and services you offer. We will rely less on brands, and more on those on the front line of commerce to help us make choices that are good for the planet and make us feel good about ourselves. We need a new, different kind of Marlboro Man. Are you our new Marlboro Man?

Tomorrow, I will be writing about the business case for sustainability.

Justin K. Lacey is the founder of Walk Softly Communications and a friend of Retail Prophet

Sustainability is the Business Challenge for the 21st Century

Tuesday, July 21st, 2009

By Justin K. Lacey (Guest Blogger)

What does sustainability mean? And in particular, what does it mean for entrepreneurs and small business owners?

With so much talk these days about the environment and sustainability, I am sure these are the sorts of questions many small business owners ask themselves. Unfortunately, there are no easy answers.Green

For most, the science is indisputable; we are witness to unprecedented changes in our environment.  The polar ice caps are melting, sea levels are rising and low lying coastal areas face an uncertain future. Unfortunately, the global objective has slipped. Our challenge now is to limit global warming to just 2 degrees Celsius, and avoid the catastrophic impacts associated with a 5 to 6 degree Celsius increase in global temperatures.

There are some that challenge the cause of climate change. Is it anthropogenic or a result of other forces or events naturally occurring in our environment? I would argue this is a distinction without a difference. Our climate is warming, and the risk of inaction is simply too great. Whether we like it or not, sustainability is our challenge for the 21st century; it is the context for businesses large and small.

So, what is sustainability? Some describe it as the triple bottom line; people, planet and profit. I have heard others describe it as equilibrium amongst economy, efficiency and equity. The concept of inter-generational dependence is favored by some, describing sustainability as “development that meets the needs of the present without compromising those of the future generations.” [WCED, 1987]

I find most, if not all, definitions of sustainability too abstract for application in the world of business. For me, a definition must have relevance in my daily routine; it must give me direction on how my behavior should change, provide guidance on what I should do differently when I walk into the office on Monday morning.  A definition that is too broad means everything, and means nothing.

Today, I heard a definition of sustainability that I found particularly appealing and useful for today’s small enterprises. Coro Stranberg, Principal of Strandberg Consulting, put it this way: “Sustainability is creating business value by incorporating environmental and social strategies into your business”. In terms of implementation, Coro went on to suggest that the best approach is to try and leverage your existing business plan; find opportunities to incorporate the concepts of sustainability that complement existing business strategies. However, the environmental and social strategies that create the greatest value for your business will likely be unique and depend upon factors specific to your business environment.

Tomorrow, I will be writing about how the Sustainability movement needs its own “Marlboro Man”.

Justin K. Lacey is the founder of Walk Softly Communications and a friend of Retail Prophet

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