Back in 2016, Rich Cohen’s article “Mick and Keith’s Guide to Business Success” appeared in the Wall Street Journal highlighting business and marketing strategies that have served the Rolling Stones well throughout their long musical career. This article provides the reader with ideas, history and reflections that can assist all of us in developing and revising our own business development. It is also interesting and fun to read.
So what can we learn from a rock & roll group that has been around for the past 50 years?
Branding or “Choose the right name.”
Picking your business name is important as it tells your consumer who you are and what you do. Sure some names may sound great during a midnight-creative session, but will that name stand the test of time? We know that a company name may evolve over the years – two examples that are Apple Computer now known as Apple and Starbucks Coffee to Starbucks.
Market Segment or “Know what the market wants from you.”
Do you know how many competitors you have with similar products or services? How do you differentiate your business from your competition? When the Rolling Stones released their first single back in the 1960’s, they had to figure out how to differentiate themselves from the Beatles. Instead of copying the Beatles’ style, the Rolling Stones became and promoted a more edgy, sexy style attractive to a certain market. Over the decades, that style has evolved to reflect changing musical tastes.
Creative Flow or “Beg, borrow, steal.”
You know your products, services and your competitors’ offerings. Is there something that you can “beg, borrow or steal” from your business environment that can strengthen your offering? Anticipate changing trends in your business environment and begin to “beg, borrow and steal” from companies that are disrupting their industries with new products, services or delivery systems.
Change is Good or “Never stop reinventing.”
Each new day brings an opportunity to improve your business strategy and maintain your individual elasticity to express your passions, dreams and direction. Each new day your business strategy needs to respond to the ongoing changes in the market that your serve. Respond by reinventing your business strategies and your ability to stretch your passions and dreams.
Finally, there is plenty of advice on how to create, fix or manage your business strategies, here at AGG Consulting, we will point out some useful tools that are currently available and release a few marketing and business development tools of our own.