BCA: Looking Forward to the Business of Business

I was able to attend the 2010 Governmental Affairs Conference hosted by the Business Council of Alabama. With the title of “Looking Forward to the Business of Business,” I knew that it would be time well spent. I was not disappointed, and the opportunity to meet many of our Alabama Legislatures up close and personal was a rare opportunity. Many of our representatives were present, and please know that they are hard at work for all of us here in the North Jefferson area.

BCA remains committed to a pro-business legislative agenda, and the content of this event maintained that position. While key information filtered through multiple conversations, one point was loud and clear, the business community must take a lead in the political arena. The members of the business community create the jobs, not the government anyway, so why would you not step up to the plate. The bottom-line challenge here is to remind business leaders that it is our responsibility to drive the synergy of post-election leadership and stridently remind them of their need to support business now.

The event moved quickly forward with Governor Riley presenting at the breakfast event on Saturday morning. The Honorable Bob Riley reminded the audience of his consistent platforms to seek funding and support for economic development, to reform education needed to prepare the work force, and to seek ethics reform laws which foster healthy, sustainable partnership and growth. The Governor also reminded the group that economic development is grounded in the creation of a product, adding value to that product and then selling it. Making his point that economic development is not gambling, he received strong applause.

I have always been told to begin with the end in mind, and sharing insight into that effort were key note speakers Peter Hart and Frank Luntz. As a leading pollster and public policy expert, Mr. Hart has a legacy of shaping trends and is noted for representing 40 United States Senators and 30 governors. Frank Luntz has been named the “Nostradamus of Polls” and is one of the most honored communications professionals in the country. The end that we should have in mind here is having our chosen candidate win the election. To insure that outcome, we must first step back and understand the mood of the country. As I have written here before, you can not lead where you will not go, and you need to know where you want to end up. According to Hart and Luntz, there are some important feelings a float out here, and now is the time to take note.

Turning on the news you are certain to hear about the oil spill, health reform and the occasional story about Lindsey Lohan, but polls show that the issues of importance are really jobs at 55%, energy and oil at 38%, and a big desire to cut government spending at 29%. Healthcare only hits the radar with 19% stating that it is a key issue, and 44% of those are not happy that Healthcare Legislation has passed. There are a multitude of concerns floating out there that have the attention of the voter base. Think about the 36% that feel the recession will persist another 2 years, or the 33% that are concerned that they may loose their job. If you factor in immigration issues, it begins to get tough to see the end at all.

The mood is very anti-incumbent with 57% favoring someone, anyone, new. About 50% just want a third party and to start up fresh. So many issues, so little time, but one thing is certain, the needle on the magnet is starting to polarize in a big way toward the independents. Just who are these 23% of party neutral new voters? The Holy Grail of voter this year is the highly coveted disenchanted independent voter. Is that you? Even more key, are you the coveted disenchanted independent who is pro-business? Not sure what good pro-business policy looks like? You can find some strong pro-business direction by going to www.bcatoday.org where they weigh in on tax policy, right-to-work, public education, environmental and energy legislation, and common sense health reform that will take care of current problems and not create new ones.

Where is Paul Revere when you need him for a call to action? What we need now is a call to become an informed voter for once and for all. Don’t mark that box or pull that lever or hang that chad until you do a little open minded research on your candidates. And if you don’t vote, for goodness sake, don’t complain.

Remember, stay informed to better take care of your customers, or someone else will.

The next meeting of the Fultondale Chamber will be held for lunch on August 24th with Logan Hinkle, Attorney with Burr and Forman presenting on Health Reform Legislation and how to prepare your business for the impact. Location and sponsorship by the Comfort Suites in Fultondale. Logan is an Adjunct Professor at Cumberland School of Law and teaches a course on ERISA and Employee Benefits. Good Stuff. Please join us. Email to visemedical@bellsouth.net

Trends in Business Continue

I have truly enjoyed the last few weeks searching for information concerning trends in business that are driving our undercurrent of change. In my search for more information, I was able to attend a lecture this week by Frank Luntz, noted Political Pollster and Communications Professional. Mr. Luntz was the key note speaker among several noted speakers at the Business Council of Alabama 2010 Health Reform Update. Luntz has been called the Poll Czar by Fox News, and his research tells us what Americans are REALLY thinking. While the presentation by Mr. Luntz focused heavily on the health industry, I find his ideas to have far reaching relevance to many areas of business. Luntz has conducted much respected research that is helping us to better understand the hopes and fears of Americans. As the saying goes, “Seek first to understand, then to be understood,” and it holds particular relevance in today’s fight to stay competitive.

According to Luntz, what customers want is to RESPECT the company that they buy from today. Stretching this idea further, loyalty to corporations and governments has declined to such a degree that it is imperative that it be regained. How do you do this? A good start may be found in seeking ways to regain respect of the employee and the consumers. According to Luntz, the directive to company leadership should be to allow the customer to feel more in control of the buying decision. Alternatively, it is important for the employee to feel a sense of ownership in the decisions that drive business. A sense of control on the part of both the buyer and the seller is the bedrock to building trust.

This is a tall order given that consumers are expressing serious frustration with corporate America where CEO’s continue to give themselves big bonuses while they lay off people. In Luntz research he states that only 22% of people favor Corporate America, and even fewer at 15% favor CEOs. He positions that the employees view of the company, not just the consumer is at risk. According to Luntz, employee trust in employers is gone. They have grown to resent the stock options, year end bonuses, and golden parachutes that are funded by employee layoffs, wage freezes, and benefit limitations. Government does not escape this ire. Issues with healthcare remain in play in spite of a solid lack of support by American voters. Pundit Dick Morris states this morning that the bill is highly likely to get passed anyway. Astonishing! Makes you wonder who is really listening.

As companies continue to reinvent themselves for the coming decades, much of the work and energy toward branding and identity creation may want to pull from the work of Luntz. Taking a lesson from his first book entitled, “Words that Work: It’s not what you say, it’s what people hear,” Luntz encourages businesses to focus on opportunities to exhibit social responsibility and accountability, as well as measureable results. He encourages us to be mindful of our word choice and to say what you really mean to be best understood. For example, we should say “free market”, “not private.” Say words like performance, not bonus and profit. Use words like lawsuit abuse, not tort reform, prevention, not maintenance and health, not healthcare. You get the picture. Words mean something and people are listening as well as watching. Consumers want to buy from a business that has more in mind than just the bottom line. Employees want to work for a company that has more in mind than just the bottom line. Communities want leadership that is accountable and responsive and interested in more than getting reelected. Consumers are expressing a desire for companies and government leadership that can do it all. They want to work for companies that make quality products that they can afford without causing loss of jobs and without excessive wasteful spending. They want to live in cities where leadership keeps them and their children at the forefront of decision making.

Can it be done? Time will certainly tell, but there is a trend emerging from the frustration with corporate America that may be driving the growth in Stay-at-home workers. This trend represents a 23% increase from 1990, and 100% increase from 1980 in the number of people who work at home. This doesn’t include the estimated 20 million people who work from home “sometimes”. What is allowing this exodus from corporate America? According to Micro trends, the primary reason driving work-at-home is because you can. Blackberries, cell phones, videophones make the home office nearly indistinguishable from the office. Think about it, does it really matter if you take that conference call from your office at work, or the Starbucks around the corner? Besides, when you work from home, you feel more in control, more like the boss, and closer to the day to day decision making and challenges. Hey, you may just become the very boss that you were complaining so much about!

And remember, take care of your customers, or someone else will.