Steve McKee of McKeeWallwork joins Steve Major on the podcast.
Steve McKee is the president of McKee Wallwork. He has written two books When Growth Stalls and Power Branding. He has nearly three decades of experience as a leading brand strategist and is the pioneer of MWC’s noted Charrette® planning process. He’s a longtime marketing columnist for BusinessWeek.com, and the founder of a tech startup in San Francisco. He has been published or quoted in The New York Times, USA Today, Advertising Age, Adweek, Investor’s Business Daily and The Los Angeles Times (among others), and has appeared on CNBC, ESPN2, CNNfn, Bloomberg radio, and network television affiliates across America.
McKee Wallwork deals with stalled, stuck & stale clients.
McKee Wallwork grew rapidly and then stalled.
7 characteristics of a company that has had growth stall – 3 external and 4 internal.
The external three – Market Tectonics
- economic factors
- agressive competition
- changing industry dynamics
The internal factors
- lack of alignment
- lack of focus
- loss of nerve
Lack of Focus
Too often never had focus.
Michael Jordan – you can only be good at one thing.
Power branding – branding is an investment, not an expense. Branding is not advertising.
90% of the battle is showing up.
Loss of nerve
When not thriving there is temptation to cut back on things that really matter. More anxious cash in business – more dubious business prospects.
Lack of alignment
Clarity of management. Focus in market place.
Focus on objective not strategy.
Focus on target audience -niche.
Power Branding – the narrow the target the more intensity of attraction and appeal.
Branding is about the business you seek, not about the business you will take.
Based on your objective – target audience as narrow as possible and as broad as necessary.
Mostly arguments are on strategy. Build consensus on objectives.
Prices is an indicator of value not reflection of value.
Look out 3-5 years and position accordingly.
Linkedin – Steve McKee
Twitter – SteveMcKee
Book – When Growth Stalls
Website – McKee Wallwork