Lessons learned from the circus
We’ve all been to the circus before, but did you know that there are business lessons that can be learned if you were one of the insiders running the show? There sure are.
You may already know Bill Sussman, President and CEO of Collective Bias, a shopper social media company that drives sales for brands and retailers by working with a community of expert bloggers who create social content consumers actively seek out and trust.
Sussman has previously held leadership positions at Nickelodeon, Walmart, Triad Retail Media and Ringling Bros and holds an MBA from Columbia University and a B.S. from the University of Pennsylvania’s Wharton School.
Sussman offers insight from his time at the circus in his own words below:
What can you learn from clowns and tigers?
As CEO of the five-year-old new media startup company, Collective Bias, I recognize that today’s marketplace can be a tumultuous balancing act. I look back at my time spent as VP of Marketing for Ringling Bros. and Barnum & Bailey Circus for inspiration.
As a shopper social media company representing some of the world’s biggest brands, we must constantly evolve to remain relevant. My days at the circus instilled in me core business lessons that I still apply to managing and motivating teams and advancing my company.
So, what can you learn from clowns, acrobats, elephants, and tigers? Here are the five lessons they taught me.
Lesson #1. Support Your Marquee
Sprawling an image of a ferocious tiger across a billboard or clipping the antics of a clown into a commercial were reliable marketing tactics to draw attention and attract crowds. But bringing the audience into the arenas was only the beginning of true success. To be completely captivating, the tigers had to be controlled by strong discipline, deliver an exciting performance and also be supported by other engaging acts.
A properly enchanted audience supported long-term success by returning in the future, spreading word-of-mouth advertising and buying add-on product.
No matter what type of act you create – from orchestrating a circus performance powered by live animals to creating a marketing campaign driven by online influencers – each department plays a unique role in the success of the overall production. It is essential to identify and maintain the right balance between each department.
In today’s high-tech environment, it is relatively easy to lure customers with flashy technology solutions and lofty promises. But no product stands alone. Not only must the technology function seamlessly, every department in the company has to serve in a supporting role. At Collective Bias, our community team ensures the right influencers are selected for programs. Client service teams work to ensure the program meets client objectives. Analytics assesses the impact and provide measurable results to prove ROI. A successful delivery means a loyal customer base and a means to grow sales year after year.
Lesson #2: The Key to Success is Individual Excellence
Each circus act operates independently, striving for personal excellence. Hours of discipline and practice lead to a solid performance. They are motivated by individual contracts with the show and negotiate what they need to lead to success. The clowns may request support from make-up and props and the trapeze artists need practice facilities and safe equipment. Each one knows how they are expected to contribute to the final show when the lights go down.
Members of business teams are motivated by ongoing professional development and constructive feedback along their career tracks. While they are dedicated to the success of the business and need clearly defined roles, they are also motivated by their own personal career goals. As a leader, I can’t expect top performance without giving every team member an environment in which to thrive.
We must not only reinforce the work we value but also provide actionable direction and plans for improvement when necessary. For example, my Sales teams need to know that there is something in it for them with every incremental dollar they bring into the company. Contributing to hitting overall company goals isn’t enough. I make sure to provide that extra motivation.
Lesson #3: Every Business Needs a Cast of Characters
One of the most appealing aspects of the circus is the fact that it brings together a mash up of diverse acts under one tent, for one night. Similarly, a well-run business leverages unique qualities as assets and nurtures individual personalities to make a stronger whole. Who needs an entire company full of people with the same personality?
Whether it is Play-Doh on the conference table or a lap dog in the office, our employees are allowed a certain freedom of movement. I love that our business development team consists of some “tightrope walkers” who thrive on calculated risk and enjoy operating without a net.
That said, I don’t want that same personality type in my CFO. That role is better served for a “juggler.” And we must never underestimate the need for the clown. Working with some of the world’s leading brands is serious business, but after a ten or twelve-hour day, we all need some comic relief to lighten the mood.
Lesson #4: Know Where Your Net Is and Don’t Be Afraid to Jump
This may seem like an oxymoron in the startup industry. Are you wondering, “Where is my net?” as you embark on the biggest endeavor of your lifetime? Our trapeze artists would spend hours before practice testing the net and setting up safety lines. Then further hours throwing themselves wildly through the air honing their act. And, in those practices, they missed frequently.
You need a net. You will fall. One sewn together from your values, your morals, your family and your friends will give you the courage to jump. If you have maintained your own personal net, no matter where business takes you, it will always prevent you from falling too low.
The concept of Collective Bias was created on the back of a cocktail napkin. One of our founders, Amy Callahan, raised in the area where our corporate HQ is located, surrounded by family, friends and business contacts, took the idea, jumped and found a receptive audience. Five years, and a few bruising falls later, we are all very glad that she did.
Lesson #5: Treat Every Day like Opening Night
One of the biggest challenges at the circus was creating the same level of excitement week after week. For each new city, the show coming to town was a huge event! But for the marketing team, that luster easily wore off. I needed to find a way to bring out the same enthusiasm from our team and performers at week 50 of the tour as we did on opening night.
All teams need motivation, especially in an industry that is built around the evolution of social media. The circus quickly taught me to use this inherent change as a company advantage. Collective Bias is in the business of shopper social media – a space that can be difficult to define and is constantly shifting. I use this to inspire our teams to push the envelope every single day.
How does Google’s latest algorithm change the online campaign your team is working on? Will Pinterest’s new sponsored posts affect a new business deck being presented tomorrow? Keeping up with social media as it evolves is our business and by using that as a motivating factor, we continue to evolve as a company.
Ultimately, every day brings a new business opportunity or chance to perform, and that is incredibly exciting. Whether it’s entertaining a new audience or powering a new online shopping campaign, we must approach every situation like opening night: with a fresh perspective and with our very best performance.
This web platform for cannabis is blowing up online distribution
(BUSINESS NEWS) Dutchie, a website platform for cannabis companies, just octupled in value. Here’s what that means for the online growth of cannabis distribution.
The cannabis industry has, for the most part, blossomed in the past few years, managing to hit only a few major snags along the way. One of those snags is the issue of payment processing, an issue compounded by predominantly cash-only transactions. Dutchie, a Bend, Oregon company, has helped mitigate that issue—and it just raised a ton of money.
Technically, Dutchie is a jack-of-all-trades service that creates and hosts websites for dispensaries, tracks product, processes orders, keeps stock of revenue, and so much more. While it was valued at around $200 million as recently as summer of 2020, a round of series C funding currently puts the company at around $1.7 billion—approximately 8 times its worth a mere 8 months ago.
There are a few reasons behind Dutchie’s newfound momentum. For starters, the pandemic made cannabis products a lot more accessible—and desirable—in states in which the sale of cannabis is legal. The ensuing surge of customers and demand certainly didn’t hurt the platform, especially given that Dutchie is largely responsible for keeping things on track during some of the more chaotic months for dispensaries.
Several states in which the sale of cannabis was illegal also voted to legalize recreational use, giving Dutchie even more stomping ground than they had prior to the lockdown.
Dutchie also recently took on 2 separate companies and their associated employees, effectively doubling their current staff. The companies are Greenbits—a resource planning group—and Leaflogix, which is a point-of-sale platform. With these two additions to their compendium, Dutchie can operate as even more of an all-in-one suite, which absolutely contributes to its value as a company.
Ross Lipson, who is Dutchie’s co-founder and current CEO, is fairly dismissive of investment opportunities for the public at the moment, saying he instead prefers to stay “focused with what’s on our plate” for the time being. However, he also appears open to the possibility of going public via an acquisition company.
“We look at how this decision brings value to the dispensary and the customer,” says Lipson. “If it brings value, we’d embark on that decision.”
For now, Dutchie remains the ipso facto king of cannabis distribution and sales—and they don’t show any plans to slow down any time soon.
Ford adopts flexible working from home schedule for over 30k employees
(BUSINESS NEWS) Ford Motor Co. is allowing employees to continue working from home even after the pandemic winds down. Is this the beginning of a trend for auto companies?
The pandemic has greatly transformed our lives. For the most part, learning is being conducted online. At one point, interacting with others was pretty much non-existent. Working in the office shifted significantly to working remotely, and it seems like working from home might not go away anytime soon.
As things slowly get back to a new “normal”, will things change again? Well, one thing is sure. Working from home will be a permanent thing for some people as more companies opt to continue letting people work remotely.
And, the most recent company on the list to do this is Ford Motor Co. Even after the pandemic winds down, Ford will allow more than 30,000 employees already working from home to continue doing so.
Last week, the automaker giant announced its “flexible hybrid model” schedule to its staff. The new schedule is set to start in the summer, and employees can choose to work remotely and come into the office for tasks that require face-to-face collaborations, such as meetings and group projects.
How much time an employee spends in the office will depend on their responsibilities, and flexible remote hours will need to be approved by an employee’s manager.
“The nature of work drives whether or not you can adopt this model. There are certain jobs that are place-dependent — you need to be in the physical space to do the job,” David Dubensky, chairman and chief executive of Ford Land, told the Washington Post. “Having the flexibility to choose how you work is pretty powerful. … It’s up to the employee to have dialogue and discussion with their people leader to determine what works best.”
Ford’s decision to implement a remote-office work model has to do in part with an employee survey conducted in June 2020. Results from the survey showed that 95% of employees wanted a hybrid schedule. Some employees even reported feeling more productive when working from home.
Ford is the first auto company to allow employees to work from home indefinitely, but it might not be the only one. According to the Post, Toyota and General Motors are looking at flexible options of their own.
Unify your remote team with these important conversations
(BUSINESS NEWS) More than a happy hour, consider having these poignant conversations to bring your remote team together like never before.
Cultivating a team dynamic is difficult enough without everyone’s Zoom feed freezing halfway through “happy” hour. You may not be able to bond over margaritas these days, but there are a few conversations you can have to make your team feel more supported—and more comfortable with communicating.
According to Forbes, the first conversation to have pertains to individual productivity. Ask your employees, quite simply, what their productivity indicators are. Since you can’t rely on popping into the office to see who is working on a project and who is beating their Snake score, knowing how your employees quantify productivity is the next-best thing. This may lead to a conversation about what you want to see in return, which is always helpful for your employees to know.
Another thing to discuss with your employees regards communication. Determining which avenues of communication are appropriate, which ones should be reserved for emergencies, and which ones are completely off the table is key. For example, you might find that most employees are comfortable texting each other while you prefer Slack or email updates. Setting that boundary ahead of time and making it “office” policy will help prevent strain down the road.
Finally, checking in with your employees about their expectations is also important. If you can discuss the sticky issue of who deals with what, whose job responsibilities overlap, and what each person is predominantly responsible for, you’ll negate a lot of stress later. Knowing exactly which of your employees specialize in specific areas is good for you, and it’s good for the team as a whole.
With these 3 discussions out of the way, you can turn your focus to more nebulous concepts, the first of which pertains to hiring. Loop your employees in and ask them how they would hire new talent during this time; what aspects would they look for, and how would they discern between candidates without being able to meet in-person? It may seem like a trivial conversation, but having it will serve to unify further your team—so it’s worth your time.
The last crucial conversation, per Forbes, is simple: Ask your employees what they would prioritize if they became CEOs tomorrow. There’s a lot of latitude for goofy responses here, but you’ll hear some really valuable—and potentially gut-wrenching—feedback you wouldn’t usually receive. It never hurts to know what your staff prioritize as idealists.
Unifying your staff can be difficult, but if you start with these conversations, you’ll be well on your way to a strong team during these trying times.
Opinion Editorials3 days ago
3 things to do if you *really* want to be an ally to women in tech
Opinion Editorials1 week ago
Questions you wished recruiters would answer
Business Entrepreneur4 days ago
15 tips to spot a toxic work environment when interviewing
Business Entrepreneur1 week ago
Zen, please: Demand for mental health services surges during pandemic
Opinion Editorials3 days ago
4 simple tips to ease friction with your boss while working remotely
Opinion Editorials2 days ago
Why robots freak us out, and what it means for the future of AI
Opinion Editorials1 week ago
6 skills humans have that AI doesn’t… yet
Business Entrepreneur1 week ago
This startup makes managing remote internships easier for all