Launch Pad is MOVING to 4M Performance Portal

First, I want to thank you for being a follower of Fund House's blog, 'Launch Pad'.  I have been authoring this blog for over two years and it has reached a solid following of over 700 business-centric individuals which access it on a weekly basis.

Where Knowledge Drives Success

Second, as you are aware, an adjacent business under the Fund House umbrella is about to be launched - '4M Performance'.  4MP, is an online, members only portal which is wrapped around the four determinants required by any business (of any size) to  accelerate revenue growth and market-reach: Management, Marketing, Money, and Momentum.

This being the case, 'Launch Pad' is now being posted to the 4MP portal as one of six major sources of information and data available to future 4MP Members. The entire 4MP portal is under construction and will be available for membership sign-up this spring. Therefore there will be no more posts to this Fund House blog as we amass the content for the 4MP portal.

4MP will be available on a 24/7 basis at a cost of only $7 per month. It will have live broadcasts with member Q&A sessions, webinars, podcasts, a large reference section, blog posts, info-videos, and more. It is the first and only online portal to offer such a wide-range of business information, data,  takeaways, how-tos, as relevant, executable advice.

I look forward to seeing and communicating with you on 4MP's broadcasts and webinars. Look for pre-launch emails, posts, and social ads promoting membership in 4MP. Then, sample the trial member content and see for yourself why you owe it to your business to have 4MP on your side.

To success,
Jim Lavorato

4M Performance: Spring 2020 Launch

Much awaited online business platform, 4M Performance, will launch in spring of 2020. 

The one-of-a-kind members only portal is based upon the 4 tenets of business acceleration: Management, Marketing, Money, Momentum. It offers a unique approach to providing solutions and information via a dynamic setting that is very engaging and hands-on for its members.

"Offering members' a truly engaging and interactive experience to solving their business problems and providing information from a wide-array of business experts is not easily accomplished. 4MP has been in the conceptual stage for several years. I had to wait until technology reached a point whereby a platform such as 4MP could be offered at an affordable price while maintaining the requisite audio and video quality that I wanted,"  says Jim Lavorato, CEO, 4M Performance

Live streaming and Q&A with business experts, webinars, podcasts, videos, blog posts, reference sources, and a selection of business forms, templets, and checklists. 4MP offers take-aways and how-tos that are financially feasible and executable for the start-up or small business.

Finally, an interactive site that is secure and free from pop-up ads and solicitations. 4MP is all about imparting knowledge which will drive your business's success. A no-nonsense site which cost less per month than an one enhanced coffee. 

Look for the 4M Performance site to go live in the next several months, we'll advise you of its opening.  There is nothing else like it !



 

All Future Posts Will Be 4M Performance Related

4M Performance - 1st Qtr. 2020

All posts starting today will be devoted to one of the 4M Performance accelerators: Management, Marketing, Money, Momentum.

Marketing

For many brands TV is the best media for reaching target markets. Yet, there is no doubt that TV as an ad medium is on the decline. According to Nielsen, TV viewership is decreasing at a rate of  3-4% a year, principally due to cable-cutting by consumers - who are switching to content streamers.

To compensate, TV ad load (time spent each hour devoted to ads) has been on the rise. For 2017 the ad load rate was 10.9 minutes per hour, in 2018 it was 11.2 minutes - the rate will increase again in 2019. Higher ad loads offset the decrease in viewership so revenues can remain constant. This trend bodes very badly for those brands that rely on TV advertising as ad loads cannot continue to increase to compensate for declining viewership. To counter, the networks and advertisers need to improve their targeting and audience measuring.

TV ads need to get more targeted and measurable 

The two largest streamers, Netflix and Amazon Prime, have no commercials, although both use paid product placement in their content and Prime sells/rents movies. The likelihood of either using ads, given the slew of players now in or entering the subscription streaming game, is a non-starter.

My prediction is that there will be a move away from the number and frequency of 60 and 30 second TV ads. These will be replaced with 5 to 10 second highly targeted ads. I also predict that long infomercials, and perhaps QVC and HSN, will become passe' as viewers' attention spans get shorter and shorter and access to products becomes easier and easier.

Jim Lavorato, Founder 4M Performance

2020: New Year or Perfect Vision

2020 will be a year where you'll need perfect vision and rock-steady conviction. The beginning of the new decade will bring, as the Chinese proverb warns, 'interesting times'.

In 2020 the business landscape will be fraught with change and disruption. Following are a few thoughts that may assist you in navigating the upcoming upheavals. 

4M Performance

- 2020 will introduce this one-of-a-kind, online business accelerator which will ignite revenue growth and market-reach. Going live in the first quarter, at a cost of only $7 per month, 4MP will allow its members face-to-face access and interaction to a cadre of business experts to solve their management problems and provide information and takeaways the are executable and financially feasible. Look for more information on 4MP in the coming months. 






Retail Businesses

 - Over 23,000 retail stores/outlets shuttered their doors in 2019 (a record), yet retail sales will reach their highest level ever. Problem: the U.S. is over-stored. For example, there are 23 sq.ft. of retail space per person in the U.S. vs. only 5 sq.ft. per person in England.

The trend favors BIG retailers (online and brick & mortar). To survive, small retailers will be required to find a niche while providing the very best service possible.

Streaming Entertainment

What became a major battle ground in 2019 will continue, in earnest, throughout 2020. The race to amass streaming subscribers by a slew of online content providers is just getting started.

A recent study by the Wall Street Journal showed that the average American is willing to spend $44 per month on streaming platforms, which equates to 3.6 services per household. Netflix will continue to dominate with Disney its biggest competitor.

Food (Meal) Delivery

Who will come out on top?

2020 will be the year of the 'great food fight'. The highly competitive meal delivery service, fueled by venture capital, is populated with high growth/no-profits businesses. Demanding service requirements, low fees, and disloyal consumers make meal delivery so competitive that Amazon exited in 2019.

Companies like DoorDash, Uber Eats, Grubhub, and Postmates, dominate. In an effort to gain scale, Caviar was eaten by DoorDash, while Eat 24 and Seamless were gobbled-up by Grubhub.

The survival strategy is team-up with restaurants (preferably the large chains) or other retailers outside the food industry. As such, DoorDash teamed with Wendy's, McDs, Cheesecake Factory, and Chipotle. While Uber partnered with McDs and Starbucks. Grubhub with Taco Bell and KFC. Postmates has partnered with Old Navy for delivery.

Another tactic is to use subscription plans to help retain customers. For example, Postmates offers free delivery for a fee of $9.90 per month.

2010 - 2019 : The Most Profitable Decade in History?

As we enter 2020, we are looking back on what many will view as the most profitable decade in U.S. history. Lower tax and interest rates spurred investment and business profits.

The U.S. became energy independent - increasing its leverage in foreign affairs and reducing global hostilities by taking the energy factor out of the war equation.

All of the stock exchanges made new highs and returns on equities were huge.  Netflix, the decade's best performing stock, saw a $10,000 investment in 2010 turn into $470,000 10 years later.

I look forward to 2020 and the opening of a new decade. The business environment offers great opportunity but competition is only a click away. Consumers are willing buyers but are more selective and more disloyal then ever before.


May the New Year bring you health and prosperity.

Jim Lavorato, Founder, 4M Performance 
           
             

Best Ads for 2019

Most viewed YouTube ads for 2019. Traditional vs. social media marketing - they both work.

  

BRAND                                 AD                                           VIEWS

Amazon            'Not Everything Makes The Cut'                 39.5 million

                             (Super Bowl Ad)

Hyundai            'The Elevator'                                               37.9

                              (Super Bowl Ad)

Gillette              'We Believe: The Best Men Can Be'           37.0

Apple                'Introduction: iPhone II                                31.8

Bosch                'Internet of Things'                                       23.3

Doritos              'Chance the Rapper + Back Street Boys'      16.7

                                  (Super Bowl Ad)

Audi                  'Audi Presents:Science Fair'                         14.8

Stella Artois      'Change Up The Usual'                                 13.9

Nike                  'Dream Crazier'                                            11.1

NFL                   'The 100 Year Game'                                     7.3

                             (Super Bowl Ad)

Marketing is one of the most very important accelerators for any business. Both traditional and social media marketing must be used to cover and capture your Brand's consumers.

Jim Lavorato, Founder, 4M Performance 

Analyzing Your Site's Conversion Rate

Is the C-Rate a good metric?

The percentage of sales to site visits = the conversion rate. The rate is normally in the 1-5% range. If you experience a 5% or above rate you're in 'fat city'.

The rate is determined by several factors:
- The industry sector in which your business operates. For example, the average C-rate within the healthcare industry is 1.8-2.1%, food and beverage .9-1%, transportation 1.4%.
-Your target demographic: age, gender, etc.
-How competitive your product or service is.
-How much money you budget for social marketing.

If your site is getting good traffic but not many conversions (a high bounce rate) you need to change your online marketing strategy. You are not getting enough market coverage, the site is not engaging, you are targeting the wrong demographic, your product is not needed so demand is low.

Make sure you study the site's analytics to determine where your marketing or product is falling short of your sales goals. Perhaps you can try one or more of the following fixes to get your C-rate where you want it.

-Incorporate good infographics and videos in your marketing.
-Redo your narrative. Stick to the benefits of your product to the buyer and explain them in terse, straight-forward wording.
-Use podcasts and, if possible, a webinar or other form of live streaming which
would include a Q&A session.
-Analyze your competition. How are they marketing? Do they have a blog? Where do you rank in a Google search vs. the competition?
-Use and post customer testimonials.
-Ensure that your access, login, and payment processing is easy to use and response is short. Take all credit/payment options and make sure your site is secure.

AD: Member Sign-up 2020

The question of whether the C-rate is a good metric remains? I believe it is one determinant but only one and you should not rely on it entirely to rule your marketing plan. Social media marketing is inexpensive as compared to traditional marketing paths but may not be the way your product is "best" marketed. Radio, TV, public relations, charity partnerships, print, public speaking, seminars and workshops are just a few marketing avenues to be used.

Using a mix of social and traditional marketing is best for most products especially if marketing to a local/regional demographic.

Jim Lavorato, Founder
4M Performance

Subscription-based Sites Getting Harder to Scale

Currently developing a subscription-based portal - 4M Performance (scheduled to launch early 2020) - I wanted to impart what I faced when building, then managing a subscriber site.

Based on info from Statista https://www.statista.com
there will be over 198 million U.S. subscribers to pay-to-play platforms within three years - and growing rapidly.


Currently, online user video 'watch-time' averages five hours per day and is filled with incredible diversity, quality, and volume of content. It follows you from device to device throughout the day and video viewing has become personal.

That scale, rapid growth, and personalization puts incredible pressure on any new subscription platform despite better technology as consumer expectations are extremely demanding.  Subscribers want ease of use, TV-like experience, and flexibility.

From my experience, the biggest problem starts with the seemingly harmless login button. Once the subscriber hits the login a myriad of activity starts. Requests are initiated to directories, billing systems, rights management platforms, third parties that authorize access and other customer transparent technologies - that all need to work flawlessly.

To me, there are four critical areas that require attention:

1. Platform scalability:  High service availability and fluid responsiveness needs to be a primary design principal that is integrated into your identity and access management software at inception.

2. Capacity planning: How many subscriptions are expected and what kind of service levels are you targeting? Working backwards from this answer, your streaming services must stand up to load tests.

3. Failures: There needs to be a plan for how failures will be contained. For example, forcing the process into a temporary mode that can catch up once all systems are again available vs. just crashing. In short, every potential failure needs to be analyzed and problem-solved.

4. Early subscription tactics: The initial rush to subscribe and the resulting stress to the platform can be mitigated by encouraging early registration, using exclusive or  teaser content.

Access and ease of use by subscribers will drive customer loyalty - the lifeblood of any direct-to-consumer site. Here are several best-to-use tactics.

Customer engagement: A single login and ease of access across all content and data available. Also, reduce as many subscription and payment processing challenges as possible.

Lifetime Value: The sign-up page should serve as a utility that manages the full customer life-cycle. It should be integrated with reporting, email, and CRM systems. It should tell you who is engaged, who is likely to churn, and who needs a login reminder.

In summary, subscribers must be able to trust that your content will be accessible when it matters most. Additionally, it  must bestow a great experience as subscribers will be holding you to the same high standard that the mega- streamers are providing.

Hope this helps and good luck with you subscription platform.

Jim Lavorato, Founder 4M Performance

Drip ... Drip ... Drip : Does It Work?

Does email drip marketing work? Or is it just another web annoyance, ie. pop-ups.

Drip Marketing: Works Great For Some Companies

Auto-scheduled, pre-written emails sent to customers or prospects over some period of time (aka drips) have been touted as generating 18x more revenue vs. running other types of database marketing campaigns. Let's explore.

The real benefit of drips is that they (should) build trust. Rather than blast you can run personalized and relevant campaigns that are welcoming, educational, product or content specific. Drips must be succinct yet sincere. Touting your value without sounding pretentious.

Lead Nurturing Drips are the most successful. These are personalized campaigns that 'hand-hold' prospects or current customers - focusing on listening to needs and desires and then sharing information and solutions until they are ready to buy.

Here are some tips to running a positive results campaign:

- Determine the goal.  Are you trying to nurture new leads? Push a new product/service to existing customers? Enhancing brand awareness?  What CTA are you targeting?

- How many drips will be included in the campaign. Determine how many drips or 'touches' your campaign will have - most  consist of  between 4 and 12 emails spaced between 5, 7, or 14 days apart.

Ad: 4M Performance Look For It Soon

- Create and personalize the content. Your drips cannot be construed as irrelevant or non-specific to your audience. Your content should be personalized and friendly. What's in it for the recipient should be your mantra.

- Know who to omit from the drip and who to include. Are the right people getting the right message at the right time? What are their pain points? Their        goals? Why do business with you? What will get their attention? On the flip-side, know when to take someone out of the drip. There must be a trigger              mechanism that will un-enroll a recipient the moment they've completed the desired action the drip intended.

Composing a drip campaign.

The intro drip in the campaign should be short and honest. A few sentences explaining what you do and the reason for the email. Conclude with a simple CTA , a yes/no response will do.

The second drip should refer to the first drip. Use new messaging that addresses your reader's pain. Conclude with a request for information regarding some aspect of the recipient's company.

The third drip should be the shortest. Zero-in on the key reason for your email and conclude with an outright ask for a purchase.

Each drip can be sent anywhere from two days to a week apart. Drip marketing isn't for everyone. But it can be of great benefit for many companies, especially start-ups. KEY: It must be used properly and be customer-centric.


Jim Lavorato
Founder 4M Performance

Blogging: Why It's So Very Important

Blogging, done right, equates to increased inbound marketing, improved SEO, influence building, and connection to your demographic target - it's a must for small businesses and start-ups.

Use Google or WordPress for blogging 

Best blogging has the following elements:

1. Terse and to-the-point. The quick punch not the long dissertation
2. Use visuals - and make sure they are relevant to the blog post
3. Always be writing to your target demographic - feel their pain and address it
4. Answer all questions and queries quickly - problem solve
5. Compose in easy to read and understandable verbage and try to incorporate key SEO words
6. Post 'in' stories. We communicate in stories - so post in storylines.
7. How often? Post at least twice a week (more if possible). Key: Relevance (no BS).

Don't neglect other forms of content marketing. Where and when appropriate use videos, podcasts, webinars, infographics, and, very important, shared content from other experts and clients.

Which content is best for your company? Should you go-it-alone or hire a writer? If you are not a good writer than opt for more visual content in your blog posts. Compose podcasts. Use videos.

Be aware, that search is based on written text and not visuals. So, always use keywords in the file names and links to posted graphics/pictures. Fill in "alt text" box areas.

To recap. The goal of blogging is to provide useful, pertinent information to your target market - while increasing traffic to your website, building your cred, gaining greater SEO, and entertaining your customers and potential customers with amusing, informative, well-composed narratives.

Sign your posts with your name, company name, and contact info.

Jim Lavorato
Founder: 4M Performance
jlavorato@fundhouse.us

The Future of Packaging: It's Exicting

I've posted about edible packaging (boxes, bags, food containers) particularly as it relates to take-away restaurant food. But it can be expanded to include frozen and other non-parishable products.

I believe that edible packaging will become commonplace in the future. In addition, there will be 'smart' and reusable packaging of a wide array of products - replacing paper and plastics.

Points to consider:
- There exists tremendous waste associated with present packaging from over-packaged products to the extensive use of plastics.
- 30% of all harvested food is lost through waste, low shelf-lifes, and transit.

In testing at KFC

Virtually everything is packaged. Therefore packaging is the focal point of many new technologies. For example, what and how will the package communicate. What's in the box? When was it filled? How much does it weigh? Was it stolen? Are the contents spoiled? Where is the package in the supply chain? And so on.

The evolution in packaging will be consumer driven and not governmental, as consumers support purchasing products that minimize waste. Packaging impacts everyone! It effects our survival: food, healthcare, personal care, everything. Today, there are concerns regarding spoilage, authenticity, origin, tracking, etc.

Edible containers for humans or pets

In the future, packaging that is sustainable, personalized, and reusable will be the norm.Veggie and protein based packaging that can be consumed (by humans or pets) or reused in a different application will be common.

Originally, packaging served as a container. It evolved to include advertising and now will play an even greater role spurred-on by the growth of e-commerce, emerging markets, shifting consumer preferences, interest in sustainable materials, and the use of advanced packaging technologies, like sensor embedding.

Look for it soon and it's all good!

Jim Lavorato
Founder/President, 4M Performance & FundHouse Ventures

The 'Age of Asia': Part 2 - Doing Business

Sponsor of this post

Part 2 (Part 1 of this post was made on 10/23/19 please read that post first).

Asia is relevant for all U.S. businesses, large and small. The question is: how to take advantage of this expanding and exciting market.

Businesses need to reassess their Asian operating/marketing model - and it is not all about China. Companies need to understand the differences within the entire Asian geographic area and each of the four regions, as discussed in Part 1, need to be treated differently.

Obviously, Asia is fraught with political risks and territorial conflicts and each country has differing business rules and laws that must be dealt with. But, despite short-term issues regarding trade tensions and China's decelerating growth, the Asian business prospects are very extremely favorable.

Environmental issues remain a problem which need addressing but all other determinants, such as, trade flows, capital, people, transport, and infrastructure are favorable in all 'four Asias'. Asia is not only growing in scale but is also integrating at a very rapid rate - U.S. companies must take advantage of this integration or be left on the sidelines.

There is no single Asia. The countries are highly diverse and each deserves special treatment. The four distinct economic regions differ in terms of scope and economic development thus requiring different market strategies. Any firm contemplating business in Asia needs to unlock the opportunities arising from the 'four Asias' but must take into consideration the nuances of each - doing so, will provide for long-term sales and profits.


Jim Lavorato, Founder/CEO
Fund-House Ventures & 4M Performance
James@4MPerformance.com

The 'Age of Asia' : Part 1 - What You Need To Know

The Asian century has begun. Collectively, the economies of Asia currently account for more than 50% of global GDP and 40% of worldwide consumption. Asia will shape the way globalization emerges over the next decades and have profound impact on the rest of the world. This is Part 1 of a two part series on the 'Age of Asia'.

Jakarta, Indonesia

This is Part 1 of a 2 Part post. McKinsey & Co. is the source for the basis of these posts. 

Asia can be segmented into four distinct business regions:

1. Advanced Asia : Australia, Japan, New Zealand, Singapore, S. Korea
2. China
3. Emerging Asia : Bhutan, Brunei, Cambodia, Indonesia, Laos, Malaysia, Mongolia, Myanmar, Nepal, Philippines, Thailand, and Vietnam
4. Frontier Asia and India : the 'seven stans' (Afghani, Kazakh, Kyrgyz, Paki, Tajiki, Turkmini, and Uzbeki) Bangladesh, Fiji, Maldives, Sri Lanka, and India

The regions are very diverse. For example, Advanced Asia has a per-cap GDP of $30-60,000, is highly urbanized, and has domestic markets that exhibit high-end consumer consumption. In contrast, Emerging Asia provides labor and has steady growth while being highly culturally diverse. Frontier Asia, conversely, has the least integration with the rest of Asia, but represent great new markets as they do integrate with their Asian neighbors.

Rising internal consumption and developed supply-chains are driving the Asia-to-Asia growth. Advanced Asia and China are investing in Emerging Asia. Frontier Asia and India have huge potential but they are hampered by a lack of modern infrastructure and heavy bureaucratic regulations; however, they have a large, young population and plenty of capital for investment. 

There are a number of Asian mega-cities that are competing to become innovation centers, equivalent to Silicon Valley.  Beijing, Shenzhen, and Wuhan in China, Jakarta in Indonesia, Yangoni in Myanmar, and Hyderabad in India are examples.    

Tourism between the Asian countries is booming and in contrast to the past, where Western culture had significant impact culture now flows in both directions, particularly from Japan to the West.

________________________________________________________________

In Part 2 of  'Age of Asia' we'll discuss how western businesses cope and prosper in dealing with this expanding Asian juggernaut.

AD: Fund-House Ventures      www.fundhouse.us

The 10-4-1 Social Media Rule

Posting once a week to your company blog? Don't. A once a week post will not generate enough traffic to your website and not enhance your social media engagement one bit. To get any social media traction you need to post at least 3x per week.

The 10-4-1 Rule is a tried and true way of posting to get the most audience conversions. If you post 15x per week the posts should be broken-down as follows:

• 10 posts should be sharing 'other people's content' to your followers. Principally information gleaned from experts in the industry or others, such as authors and influencers.
•  4 posts should be sharing 'your content that's not directly sales related'. Posts on how to save money, do something better, how-to videos and podcasts. If that content is valuable, your members/followers will share the information with others and over time you will become the expert or influencer.
• 1 post should be a direct sale pitch. A CTA for a special deal, check this out, ends today, sign on, etc.
• Post to Tweeter, Facebook, LinkedIn, Instagram and Google
• 
  

4M Performance - Coming Soon!

In addition, every business must:

1. Have a social media marketing strategy
2. Setup engaging social media profiles
3. Build a rock-solid following
4. Learn how to use each platform for maximum impact

Jim Lavorato, Principal

Fund-House Ventures, LLC and 4M Performance

jlavorato@fundhouse.us

Business Burnout : It's REAL

Burnout is a real issue!

Burnout: It is more common than thought

In a recent Gallup survey, 25% of all U.S. workers felt burnout at work MOST of the time, while 45% reported similar feelings, through less frequently.

And, it's not only in the U.S., similar studies in Europe and Asia conclude that working long hours coupled with increasing levels of stress had a significant role to play in the creation of the 'burnout culture.'

What is burnout?

The pressure of your work and the physical and mental affects of that pressure. Burnout is also related to specific personality types. High achievers are particularly at risk. Often, given their "I can do everything" personalities - these high impact types don't see the burnout coming.

Burnout is a state of chronic stress. It shows itself with physical signs such as complete exhaustion, feeling ill, an inability of sleep, extreme anger, anxiety, and depression. The ultimate solution for many suffering burnout is leaving their job. For others, it leads to complete exhaustion, a sense of failure and being unable to find the strength to do anything about it.

Ad for 4M Performance

Can Burnout Be Cured

Less confrontational workplaces, less comparing of self with others, and re-engaging with people seems to work. Talking to loved ones, colleagues, friends helps and of course recognizing that your burnout exists and you have it.

There is no easy answer. As long as there are high achievers there will always be burnout. It doesn't make a difference if you are a Baby Boomer, Gen X, Millennial, or Gen Z'er the stress and pressure of life and work will take its toil. Some ways of eliminating burnout:

• Control access to your social media
• Say NO to taking on more responsibility and learn to set boundaries
• Document what is causing your stress
• Spend more time with friends, not colleagues
• Take a vacation and mini breaks throughout the year
• Nourish your creative side 

Jim Lavorato, Principal

Fund-House Ventures & 4M Performance

7 Steps to Classical Problem Solving

To be successful in solving any problem a classical seven step approach is required. Those seven steps are defined below:

#1 Define the problem. What is it that needs 'fixing'. Many times this is unclear and needs to be pinpointed.

#2 Disaggregate the problem. Take the problem apart and attack it in pieces. In business you have the profit tree. Revenue = Price + Quantity. Cost = Cost X Quantity. Both need to be broken down and studied.

#3 Prioritize. How important is each component in the disaggregate process and do I have the power to change it. What do I analyze?

#4 Breakdown what has been prioritized. Define a work plan to accomplish tasks and define and fix biases.  Develop a work plan that reflects the level of precision required, the time frame you have, and the stakeholders you need to bring into the process.

Problem solving is not a linear process, it is iterative. Most problems can be solved in a day or even a few hours. If you see a 50 page work plan that goes out six months you know it's wrong! It will be outmoded very quickly by the learning process of the seven steps. This is why diversity in the problem solving team is so important.

#5 The work plan is done. Now you've got to do the analysis. Look at statistics before analyzing and understand the scope and shape of the problem before applying complex analytical approaches and models. Test-and-learn is the methodology to be used.

#6 & 7  Once analyzed the decision maker needs to have the question, "What should I do?" Answered. This is where the people tasked with implementing the problem's solution get motivated to action; otherwise, you haven't solved anything. The bias must be to action or you will end up where you started.

The seven step process allows for biases to be avoided. I am talking about cognitive biases not personal ones, like gender, race, etc. I am talking about biases we carry with us, such as overoptimism, anchoring, and availability (you think you have seen this problem before and therefore have the answer to it). Also the sunflower bias - bias based upon hierarchy.

Jim Lavorato, Principal
Fund House Ventures & 4M Performance

Funny Trends in Retail

As you know, I include odd-ball, but useful trends in products or businesses that I think are not only unique but push the envelop in a good way. Here's several recent ones I found.

Restaurants for One Guest

Restaurant 1:1 - Solo dining only!

With single person meals - the Irma Restaurant chain in Denmark operates the 'Restaurants 1:1'. Set up to seat single diners only, the chain said they wanted to break the stigma around solo dining for a main meal.

The 1:1 only requires one chef and one wait-staff and is set up for intimate dining. Diners can converse with staff or other diners while enjoying their solo meal.

So far the restaurants are a hit and there is a month wait for a reservation.

KFC's Wearable Picnic Anywhere Attire

KFC's latest marketing creation is the 'Picnic Polo' , which allows the wearer to instantly create a picnic anywhere. 

The gingham print polo shirt is designed to convert into a blanket (a large pocket in the shirt houses the picnic blanket extension) for impromptu tailgates and such.

Branded by KFC as the must have for office parties, summer concerts on the lawn, airport hold-overs, or family/twosome outings in parks and rec-areas. "Please pass the gravy".

Porsche On-Demand Subscription Service

All the benefits without ownership

Started last year, the Porsche subscription program allows customers to access the use of 20 different Porsches at prices which vary from $2,100 on up.

There is a subscription fee to join and you must have insurance but the program, started in Atlanta is being expanded to four other cities - Las Vegas, Phoenix, San Diego, and Toronto.

Flexibility and choice push would-be Porsche customers to the on-demand program, with over 80% of members not being previous Porsche owners.  "Happy driving".

Jim Lavorato
Founder Fund-House Ventures & 4M Performance
jlavorato@fundhouse.us  

PR : Often Neglected It Can Make A Business Soar!

You have been toiling for weeks in an effort to launch your new business. You are more than excited. It's your dream come true.
Then..... launch comes and goes. Now, one month later, you've run out of social media marketing ploys and the excitement is over ..... now what?

Could you have gone down another path? One key marketing element that many entrepreneurs overlook is a public relations strategy.  Fact is, many business people don't know or have an understanding of PR and its critical value.

PR is how your business is portrayed to the consuming public and is interwoven with your brand - it matters, Big Time.

Hiring a good PR person or firm (also known as a publicist) can be the make or break of many businesses and must be considered particularly when launching a new business, product, or service.

Why PR Matters

- 'Our Team'  'About Me'  'Our Mission'       'Our Vision'  these buttons appear on very website and lead you to a            narrative (hopefully a compelling one) that may never be read and              therefore never connect with customers. You need to get your WHY            out to the public - it needs to get displayed! That's where PR comes in.

- Market-reach is significantly increased with the right PR strategy: TV and radio shows, broadcast streaming (live and recorded), podcasts, magazines, print media, etc. can be of great influence when placed in front of the right audience.

- PR can have tremendous impact on the public perception of your brand. The more positive exposure and news about you and your company from a variety of sources the greater your importance in the marketplace.

Memberships Start in December 2019

PR is the icing on the cake. It's about exhibiting the positives. Good things happen to good companies and PR is the extra marketing element that will place your business above the fray.

By: Jim Lavorato, Founder/Principal
Fund-House Ventures / 4M Performance

How Does Your Website Stack-up

From start-ups to multinationals - websites are requisite. The all important link between the 'business' and the world. Websites are as varied as the businesses they represent - some are very nicely constructed, while others are poorly conceived and displayed.  How does yours stack-up?

Websites are portals for the world to look through and be informed as to the Why, What, and How of the business. In addition, they must be engaging, customer-centric marketing and sales vehicles. Following are some issues/questions developed by 4M Performance that you can use to compare your site against the norm.

•  Putting up a static website does nothing for the business - it must be active. 
•  Companies running online marketing campaigns get 4X more traffic and 6X more leads.
•  The most clicked-on pages are 'About' and 'Contact'. 
•  Look closely at your Conversion Rate. What is your site's ratio of contact form submissions   vs. site visits. Hopefully it is in the 2% or higher range.
•  How hard is it NOT to submit a lead form?  Make sure your contact page is appealing by:          - Putting it on the Home page                                                                                                          - Putting it on VERY page                                                                                                              - Attach a compelling offer to it         
•   Get more 'qualified' leads. At 100 site visits per month you can expect 1-3 leads. With 600 -      1,000 visits you'll get a healthy flow of leads and a higher conversion rate.
•   Focus on the pages that get the most traffic. Review your site's stats. Note which pages get        the most visits and make sure lead/contact buttons are on these pages along with compelling      offers.

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  4M Performance Memberships Available in December

 A website must be viewed as part of the business' larger branding and marketing effort. A great site needs to be marketed (consumers must find it) and marketing needs an amazing site.

Jim Lavorato
Founder/Principal
Fund-House Ventures / 4M Performance

      

Look To Airports When Thinking Retail

                                                       

According to the International Air Transport Association 4.4 billion people took an airplane in 2018 - this figure is expected to grow to 8.2 billion by 2037.  Airports are a great place to open a business and getting better all the time.

Airport Retail on the Rise Worldwide

A properly designed and executed airport retail strategy can result in huge success. Why are airports exception to the retail rule? Because foot traffic is never going to be a problem in this space. And this is the reason why top luxury brands are popping up and placing great emphasis on airport retail. In fact, these brands are realizing more success in airports than traditional retail environments, such as stand-alone shops in malls or in department stores.

4M Performance - Accepting Memberships in December

Very few sales channels have guaranteed traffic and certainly not ones that are growing at the rate  airports are. Anyone looking to open a store, shop, or food establishment of any sort must include airports on their list of where to locate. Airports present a unique opportunity to take advantage of a captive customer sales strategy - go for it.

Jim Lavorato
Principal/Founder
Fund-House Ventures & 4M Performance

Startups ..... Juggling Bowling Balls

There are lots of things to consider when launching a business and the process, for many, is overwhelming.

The failure rate for startups averages 50% - but this doesn't account for the ones that start but never reach the launch point. Here are some tips to assist in getting your 'rocket' off the launch pad.

Have a Plan

What, When, How, and How Much are the bowling balls you'll be juggling and that the Plan should answer. Spend the time thinking and developing the Plan which must include benchmarks and goals to be reached over specific time periods.

Money, Money, Money

Make sure you have the funds necessary to launch your new venture. This is a must. If you don't have the money - don't start until you do! That includes all the funds relevant to the kind of business you are contemplating and is enough to cover all of the anticipated expenses.

Marketing The New Venture

There are only two endeavors that generate sales for any business: marketing and innovation - everything else is an expense. You must have a marketing budget and it should be one of the more significant expenditures in your Plan.

Spend your marketing dollars wisely and track the return value of each promotion dollar. Use both online marketing and traditional media. Segment and pin-point your target market.

Create An Identity

You are the protector of your company's brand. Every business, no matter size, must have a brand and that brand needs to be forged and nurtured. The Brand is the Business - they are one in the same.

You must create an identity for your new business and that identity is market driven. It is based upon a promise you are giving to new customers that your business well perform and 'serve up' exactly what you are marketing.

     Only two actions generate revenue:         Marketing and Innovation -                     everything  else is an expense!





Use Technology to Increase Productivity

Make sure you are using all of the latest technology in building and operating your new business. Only purchase what is needed to manage the business in a efficient and productive way. If necessary  (I say necessary because many of the business apps available come with free tutorials and/or host assistance) seek professional help. Keep in mind that what cost thousands just a few years ago can now be had for hundreds.

CX

The most important task required for a startup is making sure your business is providing a great Customer Experience. This is crucial. Place yourself in your  customers' shoes to ensure that they are receiving what you would require as a customer. The experience must be honest, engaging, easy, and complete.

These startup tips are the ones you'll need to juggle. They are hard. They take time. They demand effort and thought. And they are essential to success.

James Lavorato
Founder & Principal
Fund-House Ventures and 4M Performance

Jim Lavorato Bio

I've been authoring this blog for almost two years and several readers have requested I post my bio, here it is:

Mr. Lavorato is currently President of Entertainment Equipment Corp., which he launched in 1988. EEC sells, installs, and services projection, sound and related equipment to motion picture theaters and educational institutions.

Throughout his career he has been at the forefront of cinema technology - working, for example, with the major Hollywood studios and the Texas Instruments Corp. to spearhead the movie industry's transition to digital presentation and distribution with the development of digital cinema and was instrumental in the success of the first commercial release of a digitally screened feature film ('Star Wars: Attack of the Clones' 2001).

In May of 2000, he founded Cinema Training Central, which offered the first training programs devoted to the cinema exhibition industry.  Further expanding EEC's scope, in 2009 he co-founded the Arboreal Group - an environmental consultancy which transforms existing movie theaters into sustainable structures through the implementation of a compliance and certification process.  Arboreal was conceived and developed based upon the U.S. Green Building Council's LEED Rating System.

Over his career he gained extensive domestic and international experience, living and working in Boston, Buffalo, Los Angeles, New York City. Phoenix, and Pittsburgh, and holding assignments in Frankfurt, Hong Kong, London, Singapore, Tokyo, and throughout Central America.

Prior to launching EEC he had a successful career at the Mellon Bank  where he attained the position of Senior Vice President. He also functioned as the Chief Financial Officer of Mellon International, being responsible for all financial activities at the Bank's Wall Street operations.

Previous to Mellon Bank he worked as a Corporate Analyst for the Itek Corp. which developed and manufactured high-tech optical systems and products used by the U.S. Air Force and NASA. Prior to Itek he worked as a Financial Analyst for the United Brands Company in their Chiquita Food Division.

He has authored numerous articles on the entertainment and media industries. His works have appeared in Film Journal International, Boxoffice Magazine, Theatre World, and is currently a contributing editor to ScreenTrade Magazine. He also authors two blogs - Cinema Mucho Gusto, which provides news, information, and commentary on the cinema industry and Launch Pad, a business advisory provided by Fund-House Ventures/4M Performance - cinemamuchogusto.blogspot.com, fhventures.blogspot.com

In 1978 he earned a Masters in International Management from the Thunderbird School of Global Management, Phoenix, AZ. In 1973 a Masters in Business Administration from Suffolk University, Boston, MA and in 1971 a BA in Accounting from Suffolk University.

Currently he is a member of the U.S. Green Building Council. A certified SCORE Mentor, and a past director of the International Cinema Technology Association.

He resides in Scottsdale, AZ.

The Launching of 4M Performance

4M Performance will be launching shortly. An adjacent product to Fund-House Ventures, the investment and coaching company for emerging and established small businesses, 4MP is an online subscription- based business accelerant. 

As the name implies 4MP will center around the four basic growth factors required by any business, of any size: Management, Marketing, Money, and Momentum. All of 4MP's web-based services will focus upon these four determinants and will ignite very member's business revenue generation and market-reach.

Look for more on 4MP in the coming weeks. Its official launch date has not been as yet set but that doesn't mean you can't have a headstart on obtaining pertinent and useful information about managing your business. Just by reading the posts on Launch Pad (the name of this blog) you'll gain specific and solid information about the current business landscape and how to transverse its many perils and pitfalls.

You will be receiving upcoming news and the official 4MP launch party date/timing shortly. 

Best,
Jim Lavorato, Principal & Founder
Fund-House Ventures & 4M Performance.
James@4MPerformance.com

The Customer Quadrant

The above graphic is called the Customer Quadrants Determinant and is used by businesses in planning how to assess and attack adjacent markets, introducing new products, or launching a new promotional campaign, among other things.

The #1 quadrant is the easiest to market to, which is selling a current/existing product/service to a current customer base.

The #2 quadrant is next, and a bit more difficult to attack. That is, selling a new product/service to a current customer base.

#3 is again more difficult. Marketing an existing product/service to a new customer base.

And lastly, the #4 quadrant - the most difficult and expensive. Marketing a new product/service to a new customer base.

Each quadrant demands a different marketing and sales approach to be successful and a different level of funding and staff to succeed. However, revenue growth and profitability is commensurate as the quadrant number increases.

Jim Lavorato, Principal & Founder
Fund-House Ventures, LLC and 4M Performance
www.fundhouse.us
James@4MPerformance.com