Inspired by the principles developed in the “Service Profit Chain”, Mike Hohnen takes you through each of the steps needed to create an outstanding service business.

You will find it here on Amazon

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We live in a world of abundance – there is plenty of choice everywhere. And since 2008 we have experienced significant drops in demand as consumers became more careful. The result is a widening gap between supply and demand in virtually any category you can imagine.
When that happens, many companies have a knee-jerk reaction, and the recipe is more or less always the same: initiate rigorous cost-cutting programs, reduce staff and/or services, offer discounts in many forms, and increase advertising aggressively.
This, however, is the equivalent of trying to steer and brake as your car begins to skid on black ice while going through a sharp curve.
As you hit that declining demand curve, you need to perform what at first seems like a counterintuitive move: hold your price, increase your services, improve your quality, and narrow your focus in the market.
In this book, you will not only understand why but also see how you can do that.

One that struck me in particular was the story of when Jobs returned to Apple after his years of involuntary exile. At that point in time Apple was on the ropes and the market was rapidly losing faith.

Jobs convened a product review meeting – Apple at that time had 10–15 different versions of the Mac on the market and even more in the pipeline. Jobs went to the whiteboard and drew a 2 x 2 matrix. On the one side he wrote home/professional on the other he wrote desktop/laptop. Jobs then announced: That is it – four products. A laptop for professional or home use and a desktop for professional or home use. Everything else is as from now abandoned/discontinued.

The lesson for us all of course is: focus. Decide what it is you want to do and do it well.

Trying to be all things to all people invariably results in being nothing to anybody.

What particularly caught my attention was this:

“S+B: In a talk at the ALIA Institute last summer, you said that the only leaders who succeed are those who have some kind of personal spiritual discipline.
WHEATLEY: Yes, I’m convinced of this. By discipline, I don’t mean meaningless, repetitive, boring practice. That disables people. Nor do I mean religious practice per se. I mean some regular activity that leads you to reflect on your struggles and challenges in a larger context. For one of my friends, Alcoholics Anonymous serves that role. For others, it can be prayer, meditation, or time in nature. I’m not sure about running or other physical exercise, because I think a practice has to connect you to the rest of life — to take you out of the false perception that you are the center of the universe.
Without that discipline, I don’t see how leaders can maintain their integrity and focus. The prevailing mass culture has schooled a lot of people to follow their passion, find their calling in life, and do what they love. Then they encounter setbacks, failures, disappointments, and very subtle impediments — for instance, their loved ones say, “Why are you working so hard here?” Many people quit. That’s what’s essential about discipline. You do it day after day, even when it’s boring, because you believe ultimately it will lead to a good outcome. The fruit of all this effort becomes apparent only after a long time when it seems not to be going anywhere. Work can begin with passion, but it’s only through discipline that people can persevere.
Brain research is also clear on why we need quiet time, especially when under stress. This spring, I went on a long, solo retreat. I didn’t interact with anyone except my teacher. I witnessed my own mental capacities coming back in full flower. I regained great powers of memory and concentration. I could understand complex ancient texts. I was so mentally alive. Now that I’ve returned to my overly distracted life, I am back to old ways; I’ll walk across a room and not remember what I went looking for. But now I know that my memory loss isn’t caused by aging or deterioration. The cause is distraction, and working in an anxious world. I can regain my mental capacities if I regularly take the time to slow down and focus.”

Read the full interview here

We don’t yet know what is next – but we do know it will be different. One thing you can be sure of is that in the next 5 years you will see more innovation than you have experienced the past 15 years – what will that mean for your business?

The future will belong to the bold. The world of business is now so crowded that only those who have a significant and dramatically different story to tell will grab the attention of consumers.

In a world of ‘green wash’ and PR spin, authenticity will shine through. In the face of unprecedented levels of marketing spend an increasing consumer cynicism, simple recommendations from ‘consumers like us’ will carry the day. In an age when we have come to expect good levels of service and product quality as a given, only in exceptional and memorable experience will earn customer loyalty. At a time when legal loopholes and corporate caveats allow companies to wriggle out of their responsibilities, those who stand by their promises will stand out from the herd. It requires courage, conviction and imagination to be bold but the rewards can be immense.

The first paragraph from:

“BOLD – How to be brave in Business and Win”
by Shaun Smith & Andy Milligan

Need I say more ?

Almost any surface or fabric in the 2030 hotel room will be capable of electronic enhancement, whether it is scent production, acting as a visual display or speaker, or as a source of ambient sound.

Read the full article her

Most employees care about the same three things–the nature of their Role, their work Environment, and their professional Development (RED)

Asa manager, you need to talk regularly with employees about the three buckets, and as you keep the dialogue going, listen for information about their preferences and aspirations. Armed with this information, you can label and link day-to-day work with their expectations.

Fascinating – and very simple.
Read an extract from the book here

Ensure your property can be reached in the fastest growing sales channel, with a revenue-driving mobile website. With more than 15 million people projected to book hotel rooms on their mobile devices in 2012, the time is now.

Read the full article on Hospitalitynet