Insights With Trent Munday

Just because what they want and what you want seems to be very far apart, doesn't mean that you still can't meet in the middle. Sometimes we are so focussed on what we want out the deal that when the other side wants terms significantly different to ours, we feel the only option is to walk away. No deal. But if you're going to walk away anyway, why not put your counter-offer on the table? You never know, the other side may just be testing you. You can always walk away from the deal if they won't budge. But first, be sure to try the counter-offer strategy. #counteroffer #negotiationtips #dealmaking

It seems like everyone is a content creator these days.  That's great...but it also means there's so much content out there that it can be really hard for you to break through with yours. But you don't have to break through all that noise. Instead, focus on making content that is relevant and of interest to your existing customers/clients/markets. #contentstrategy #contentmarketing #contentcreator  

One of my least favourite sayings is... It's all about the Journey, not the Destination. I'm a Destination guy. Just get me there. But that doesn't necessarily mean I'll take a straight line to get there. Sometimes, it's the less direct route that can actually end up being faster. On the less direct route you can sometimes pick up different information, tools and resources that can help you travel quicker. A straight line isn't always the fastest route. #destination #journey #lifelessons

When most of us think of a Lifestyle Brand, we think about Apple or Nike or maybe at the higher end, Luis Vuitton or even Chanel. But ultimately every brand is a Lifestyle Brand on some level, according to branding/marketing/content guru Steve Babcock. And I think that makes a lot of sense. Every brand that you have in life represents some element of your lifestyle on some level. Where this gets super exciting is that we often chose different brands depending on which specific phase of our lifestyle we're in at the time. In our 'Home Lifestyle' we might use a Bic Ballpoint Pen, whilst in our 'Work Lifestyle' we might prefer the Mont Blanc brand. So when it comes to your marketing message, make sure it connects at the Lifestyle level. #lifestylebrand #marketing #branding

You can put all the time, effort and money you like into Customer Acquisition, but you still can't control it. Ultimately, the choice to buy is mine - the customer. When it comes to Customer Retention, however, that you can control. You can control how good your product or service is. You can control the experience I have with your brand. You can control how you communicate with me once I become a customer. All of those elements, plus many more, are things you, as the business can control. So focus on what you can control. How much? I'd say about 80 / 20. #customerretention #customeracquisition #customersatisfaction

Generating new ideas of your own is difficult for many people. So here's a simple way to leverage other people's ideas, add your perspective to them, and ultimately come up with your own unique ideas on the subject in the process. The Contribution Take an idea that you agree with, then add a 'Yes, and...' eg: Yes, and...here's how it could apply to my industry. The Contradiction Take an idea that you disagree with, then add a 'Yes, but...' eg: Yes, but...this is why that wouldn't work in my industry. Apply this simple process and before you know it you'll be seen as a true Though Leader in your industry. There's lots more interesting insights like this in the book - The Thought Leaders Practice  Here's a link to the website where can download a FREE copy of the book - https://bit.ly/30pr7e1 #thoughtleader #thoughtleadership #ideageneration

Hope for Best - Plan or the Worst. Always have a Back-up Plan. You need to have a Plan B. I believe in all of that. It's very much the way I approach life. However, there is a risk that if you know you always have a Plan B, that you may not put quite as much effort into ensuring that Plan A succeeds. If you don't have a Plan B, you have no choice but to make sure Plan A succeeds. Some people simply function better knowing that there is not Back Up Plan. So just be careful that you don't let your Plan B be the excuse for Plan A not succeeding. #planb #backupplan #contingencyplan

Many of us today are thinking Local-First. With many international and even some interstate borders closed, we can't travel to seek out experiences like we once could. That presents an opportunity for you to leverage this new customer sentiment towards local products, businesses and experience. Dinner can be an experience. So too can a Spa treatment. Or maybe a hike around a local park area. One way to benefit from this prevailing sentiment is to form a local network of businesses who offer experiences. Cross-promote each others businesses to your customers. Even if this doesn't directly get your business more customers, it will help position you in the minds of your customers (and others) as a Local-Friendly business. And at a time like now, such a position would be GOLD! #localfirst #localcommunity #marketopportunities  

The concept of Red Team vs Blue Team originated in the military when they decided the best way to prepare to fight the enemy was to fight against them. So they assigned the Red Team to play the role of the enemy.  Their job, simply put, was to destroy the enemy...the Blue Team. The good guys. The same approach could be used in your business. Create the Red Team whose job it is to play the role of the competitor that could crush your business. If done with vigour, it will make your business stronger and better prepared to tackle your competitors. It might even be a good recruitment strategy.  As part of the interview process, challenge the candidates to create a strategy that would destroy your business. #businessstrategy #competitiveedge #redteamthinking

If you have a business where customer service is important - and let's face it, that's every business - and you have repeat or return customers, Voice Notes could be a great tool for you. Recalling specific customer preferences and various other bits of customer information requires you to make notes. That takes time. Voice Notes are quick and easy and effective. Do you use Voice Notes? If not, maybe you should give them a try. #voice #customercare #customerengagement

We all like positive reinforcement. Don't forget though, some people are just easily impressed. That doesn't mean you ignore their feedback. You take all you can get. But just be sure you recognise it for what it is. But when smart people acknowledge you, then you know you're on to something. Then you keep going. A Word Of Caution - Smart people get it wrong too. The only opinion that truly matters when it comes to determining your success is the market. Your customers. #smartpeople #validation #marketfeedback

Many in the Wellness space have found themselves unemployed, or at least under-employed right now. A number of them are looking to start their own ventures, their own business. Some will need access to not only money (capital) but also advice on a whole range of matters - Legal, Finance, Marketing, HR, just to name a few. That's exactly what good VC firms provide. So, the world is in need of Wellness, many Wellness people are currently available & many are already starting their own businesses. It kinda begs the question, is the time right for a Wellness Focussed Venture Capital Firm? And while we're at it, why not make it Crowdfunded rather than use the typical VC Limited Partner model? #venturecapital #wellness #crowdfunding

Have you ever applied for a job and received a stock standard rejection letter with no feedback on why you did not get the job? Or worse still, didn't even get a reply at all? If you don't know why you've failed, how can you possibly improve on it for your next job application? Many companies say that they can only respond to successful applicants due to the high volume of applications. I don't buy that. Oftentimes it's because they are worried about potential claims of discrimination if they reveal why you didn't get the job. So what if the applicant could sign a waiver to say they will not make any claims against the company for any reason IF they just give them some feedback on their application? The applicant would win by getting some useful feedback. And the company would also win by establishing themselves as a true 'People First' organisation - which of course many say they are, but their actions tend to suggest otherwise. #jobapplicants #recruitmentprocess #emloymentadvice

It's very easy to convince yourself that just because you're doing it now, just because it's Urgent, that it is also Important. But often that is not the case. Indeed, as Seth Godin says, "important things require nuance, patience and understanding" And all that consideration takes time. That doesn't mean that the Urgent stuff doesn't need to be done. It does. Just be aware that so long as you're focussed on the Urgent, you may well be missing what it is truly important. PS: Here's a link to Ep. 965 - Applying the Eisenhower Matrix To Get Shit Done - https://bit.ly/32RZqw0 #urgent #important #priorities

This COVID-19 Crisis that we're all living through is exposing many of us. Maybe it's exposed that your business wasn't doing so well after all. Maybe it's exposed that you're not quite as smart or as good a manager as you though you were. Or perhaps it's exposed that the career that you'd chosen wasn't really making you happy and you should be doing something else. Whatever it is, it's important that we don't just dismiss it and place it in the 'Just because of the crisis' basket. Instead, Face It, Embrace It, Learn From It & Move On! #challengeyourself #embracechange #selfawareness

We all learn differently. Some prefer the written word, so books is a great way to learn. Others learn better by watching a video. For some it's audio, which makes a format like podcasts ideal for them. Still others can only really learn by doing. If your preferred learning method is audio, there's not much point buying a book. Understanding how you learn best is one of the most valuable things you can learn. PS: The same applies to your team too. They all learn differently. #learningstyles #selfawareness #learning  

One of the biggest barriers to long-term change are short-term goals. Employees are concerned with hitting their KPIs, earning their bonus, etc. To do that, those short-term goals must be met. So it follows that if you can create a space where short-term results can be put on hold in favour of long-term goals, you're much likely to secure long-term success. So says Aaron Dignan in his great book on Organisational Change. Here's the book Brave New Work - https://amzn.to/39tctEk #organizationalchange #safespace #change

I'm a big fan of Learning by Doing. That generally means there's going to be a bit of Trial & Error. And that's ok...MOST of the time. But you need to carefully consider the consequences of failing If, in failing, you significantly inconvenience your customers and they lose confidence in your service, then maybe the benefits of Learning by Doing aren't worth the risk. As experienced personally by me today with a visit to the hospital. #customerconfidence #learnbydoing #consequence

Due the sudden downturn in sales, many businesses today are holding excess inventory. One of the best ways to encourage customers to buy your inventory at a time like this is to offer them a payment plan. Remember, just as your business faces considerable uncertainty, so too do your customers. Enabling them to at least partially defer their payment for a few months might be just the comfort level they need to make a purchase. If you offer a Payment Plan for your product or service, give yourself a shout out in the comments below! #paymentplans #paymentplatform #customerfirst

Many have lost their jobs, and potentially their careers, due to this current COVID-19 crisis. In that, there are some valuable learnings for those plotting out a career path. Critically, I believe it may be time to redefine what a Career Path actually means. Once up on a time, a Career was usually within the same company, for life. More recently, a Career has meant maybe a few different companies over the duration, but generally within the same field or industry. In the future, I believe the most stable Career choice will be multiple jobs, in multiple companies, in multiple industries, over time. Flexibility and Adaptability will be critical. #careerjourney #careerchanges #careerchoices