Having recently signed licensing agreements with the catalog brands from nonprofit organizations, Winterthur Museum and the National Wildlife Federation, Allston, Mass.-based catalog holding firm BlueSky Brands now operates five titles, including Paragon Gifts, Bits & Pieces and Bits & Pieces UK. BlueSky Brands CEO Richard Hebert discussed with Catalog Success his companyโs recent acquisitions, business strategies and plans for the future. Catalog Success: What are BlueSky Brandsโ goals? Richard Hebert: Weโre looking to grow organically, as well as through acquisition. Weโve been pretty acquisitive so far, having obtained five retail direct-to-consumer brands in addition to the AB&C Group, our fulfillment company. And you will certainly see
Management
These are complex deals and for the launch of my new section on CatalogSuccess.com, I will explain some of the metrics and reasons for this unique transaction structure.
First, however, hereโs the deal: BlueSky Brands, which owns the for-profit Paragon and Bits and Pieces catalogs, signed exclusive licensing agreements to manage and operate the direct-to-consumer catalog and Internet merchandising businesses of Winterthur Museum & Country Estate and the National Wildlife Federation (NWF), both of which are nonprofit organizations.
Winterthur and NWF have operated successful direct response merchandising business for years. In this deal, BlueSky formed two operating brands: Winterthur Direct (WD) and National Wildlife
Reallyโฆ I mean it!
If youโre not already in the catalog business, donโt start one. In fact, you can stop reading here.
Donโt even waste your timeโฆ
O.K., you got me. Iโm being ironic.
In fact, a few paragraphs down, Iโll tell you why now is the best time to start a catalog business. But, only as long as youโre willing to follow the few simple rules of the catalog business. Rules that run counterintuitive to your current business model.
To me, this is a fitting way to start my first weekly blog (silly word blog, but less silly than saying the word โspamโ
A key point of employee goal-setting is to help your staffers become more productive. Thatโs why you donโt want to confuse activity with progress. Put systems in place for measuring productivity throughout your catalog company. Then live by those productivity measurements. Remember this mantra: What gets measured gets done. Create policies ensuring that the โurgentโ doesnโt take precedence over the โimportant.โ And do everything you can to eliminate redundancies and busywork. Once youโve set the measurements, give feedback, both formal and in real time. Establish ongoing evaluative processes so that employees receive managerial feedback on how well theyโre meeting their goals. But donโt limit
We all mess up sometimes -- a meeting falls flat, you lose your temper with a co-worker, or you step on the gas instead of the brake and smash into someoneโs house. Well, some mistakes are bigger than others. But whether youโre a salesperson who lost an account or an employee who just told off your boss, donโt start looking in the want ads yet. If you play your cards right you, too, can get a second chance for a do-over by using your sense of humor. Laughter breaks tension, changes the mood and creates an opening for a do-over. And a little light-hearted,
If your companyโs goal is profitable, multichannel growth, business modeling can offer you a clear strategy to achieve that goal. Simply put, a business model defines how your company generates revenue, and describes how your pricing, service and channel strategies work together. The process of detailing revenue sources, customer relationships and organizational structure identifies opportunities and challenges. This reveals the correct behaviors that should be your companyโs focus. A unique, sustainable and hard-to-copy model will begin to take shape as you continue this process. Identifying your companyโs current components is the first step to creating your optimal business model. Begin by answering the following
Almost half of the U.S.-based working adults who completed a recent online survey said theyโre given no clearly defined goals on the job. โToo many companies are dropping the ball in regard to helping their employees set and work toward well-defined goals,โ says Joanne Sujansky, CEO of KEYGroup, a consultancy that commissioned the online survey taken by more than 1,700 workers ranging in age from 18 to 64. โWhen employees donโt have crystal-clear goals to work toward, theyโre going to waste time and resources. Theyโre going to be inefficient.โ Following are some of Sujanskyโs tips for setting goals for your employees: Share the big
When in search of top management talent for your multichannel business, you have several options for help, notes Les Gore, managing partner of Executive Search International, a Newton, Mass.-based executive recruiting agency specializing in direct marketing, in his white paper โStrategies for Finding Top-Notch, Experienced Talent.โ Retained searches are generally best when youโre recruiting for high-level positions such as chief executive, president and vice president. Offering a more consultative search, the retained search firm probably will spend a day at your site, observing your operations, conversing with key personnel and getting a clear understanding of your companyโs needs, notes Gore. The recruiter will develop
In preliminary conversations about long-range strategic planning with direct marketing CEOs, Don Libey, president of consultancy Libey Inc., asks the following two questions. Whatโs your exit strategy? โUntil the objective of the end is known, we cannot create a strategy to get there,โ writes Libey in the new book โLibey and Pickering on RFM and Beyondโ (MeritDirect Press), which he co-authored with Christopher Pickering, partner at MeritDirect. โYou operate businesses very differently depending on whether they will be sold to a competitor, sold to an investment group, given to the children, structured as an employee buy-out or liquidated for cash,โ Libey writes. โFor each end game,
As the head of a catalog company, you likely oversee a number of supervisors who are responsible for another group of employees. While dealing with and managing various management styles isnโt always easy, human resource professionals Michael Simpson and Gina McClowry offer the following scenarios and resolutions in their white paper,โPractical Approaches for Managing Managers,โ which recently was released by the Society for Human Resource Management. ยฅ Dealing with a manager who doesnโt support your vision. When a manager doesnโt support the companyโs vision or direction, it can lead to lowered morale among the entire staff, note the white paperโs authors. In most cases, deal