Learn How to Improve Now from a Great Futurist (No, Not Me)

18. Strategic planning. Libey advises, meet daily, follow strategic plans, tweak them, change them a little, but always stay with the focus, culture and niche dominance.

19. Communication. Top tier companies communicate at every level, Libey said. “Everybody’s got the same story, goal, vision and is doing what they’re supposed to do,” he pointed out. “They communicate to customers who communicate back, and to vendors who also communicate back. They have a successful sphere of communication. Other companies, keep it all a secret.”

20. Board of directors or advisors. It’s a mistake to have board members who are just dollar oriented. A catalog company board should consist of a true industry expert in the particular product line the marketer serves, a multichannel marketing expert, a solid financial person, and a private equity person who understands and uses sources and applications of money. This board member should also understand catalog ratios and know the analytics cold, Libey advised.

In lieu of a lawyer, also name a trusted advisor to your board, he pointed out. “This could be someone you’ve grown up with, relied on and have absolute faith in to tell you the truth,” Libey said. “It’s not about big names.” With a sold board in place, “then listen to what they tell you. Don’t just make them a rubber stamp.”