How would you save the music industry?

Business Insider just posted a blog post showing the past 37 years of the music industry in a chart. From this chart it's an easy conclusion to make that the music industry has found itself at a time where it needs to pivot. The question becomes what is the next step for the music industry?

What would you do if you were in charge?

The Quest to Grow Revenue

“It’s a mystery to me why companies cut back onlearning and training in down time. Now is whenmore focus should be put on training and capturing opportunity.”

- Crosetto, CEO of Ammex

The moral here? Simple, always keep on learning!

With that in mind here's today's educational bit. All businesses are concerned with growing top line revenue and increasing their profit line. There are no right answers on how best to approach this, but there are lots of strategies that can help guide you on your quest.

I ran into this whitepaper called "5 Crucial Strategies for Doubling Revenue" that outlines some strategies from industry experts that have tested each each of them. Thanks to Verne Harnish, CEO of Gazelles, for the note on this whitepaper.

I am not a huge fan of whitepapers, but every once in awhile I stumble upon one that would be useful. I'd highly recommend checking this out.

Here's the a quick view of the Top 5 list:

1. Dramatically Reduce Sales Cycle Time
2. Pricing with Confidence
3. Multiple Channels
4. Half the Customers; Twice the Attention
5. Web 2.0

Law of the Ladder - Day 7

I've lost my whiteboard here at work, so I'm trying something new... Snapshots from the book!

The Law of the Ladder:

The strategy to use depends on which rung you occupy on the ladder

Thought to Ponder:

You tend to have twice the market share of the brand below you and half the market share of the brand above you

Law of Exclusivity - Day 6

Law of Exclusivity:
Two companies cannot own the same word in the prospects mind.

Thought to Ponder:
Volvo = Safety
FedEx = Overnight
McDonalds = Fast

Law of Focus - Day Five of Laws of Marketing

Law of Focus:
The most powerful concept in marketing is owning a word in the prospect's mind.

Thought to Ponder:
What one word does your brand own?