Happy Birthday to DigNuggetville: Three years and Still Going…

Hola Todos!

Three years ago today, DigNuggetville was launched and keeping with tradition, I’m reposting the “Inaugural Post” outlining the mission and goals for DigNuggetville.  Except for the auto industry comment, the blog has been true to the mission outlined below.

As I have been hinting to in recent posts, Year 3 of DigNuggetville will feature something totally new – something I have been brewing up for the past 3 months or so. I look forward to its debut in the very near future.

Thanks for interest in DigNuggetville and keep reading those nuggets!

Best regards,

Dr. Dan-o

 

 

August 10th, 2011

Hola Todos!

I hope the summer has been treating us well.  For some time now, I have been cooking up the idea for – DigNuggetville - so WELCOME to the inaugural post.

The number one mission of this blog is to disseminate, distribute, broadcast, circulate, etc., nuggets.  As you recall, nuggets are takeaways – a kernel of information you would like to stow away for future use.

Now in class, I made you record things in your journal (and yes I know a few of you out there still keep your journal alive).  Either way, I want to continue our conversation and share more nuggets.

The recording of nuggets is strongly rooted in learning theory and is the foundation of my teaching philosophy.   Broadly speaking, the main thrust of our discussion will involve (but not limited to) my main areas of interest:

  • Marketing Strategy
  • Marketing Research
  • Servant Leadership
  • Web 2.0/Social Media
  • Personal Selling and Sales Management
  • Consumer Behavior
  • Books/Business Media Recommendation
  • Networking (e.g., the old fashion face-to-face kind, as well as, the newer social media kind)
  • All things Apple Inc, Google, and the entire auto industry (just kidding)

Most importantly, I would like to hear from you.  If you are having a problem at work or want to talk through a career related decision, these are things I help out former students colleagues with on a weekly basis.  In summary, if there is something you would like to ask, please post a question.

Again, welcome to Dr. Dan-o’s creation – DigNuggetville.com

Best regards,

Dr. Dan-o

 

Innovation: What Can We Learn from Improvisational Comedy?

Hola Todos!

You never really know where a great nugget will come from and when I was reading Tina Fey’s memoir Bossypants (actually, I was listening to it in the car), her description of improvisational comedy sounded like something that would be very useful for coming up with new ideas.  First, I will paraphrase her thoughts from the book and second, I will give you my interpretation on how improv could fit with innovation.

 

The Rules of Improvisation

The first rule of improv is to AGREE. Always agree and SAY YES.  When improvising, this means you are required to agree with whatever your partner has created.  The Rule of Agreement reminds you to respect what your partner has created and to at least start from an open-minded place. Start with YES and see where that takes you.

The second rule of improvisation is to not only say yes, but to also say YES, AND. You are supposed to agree and then add something of your own.  YES AND means, “Don’t be afraid to contribute.”  It’s your responsibility to contribute.  Always make sure you’re adding something to the discussion.  Your initiations are worthwhile.

The third rule is to MAKE STATEMENTS.  This is a positive way of saying “Don’t ask questions all the time.” In other words, whatever the problem, be part of the solution.  Don’t just sit around raising questions and pointing out obstacles. We’ve all worked with that person and that person is a drag.

The final rule of improvisation is THERE ARE NO MISTAKES only opportunities. In other words, there are no mistakes, only happy accidents.  And many of the world’s greatest discoveries have been by accident.  I mean, look at Reese’s Peanut Butter Cups or Botox. 

I could not write down these ideas when in the car so I went to the library and took out the book to get the word-for-word translation.  I thought these four rules would work well when the task at hand was to develop totally new ideas from scratch. When people are positive, the creative juices flow. Having teammates add something to your original idea will take it somewhere you didn’t expect it to go. Not asking questions or being negative will keep the stop signs from popping up. And not worrying if the idea is a good one or a mistake will free those cognitive juices up to focus on idea development.

Something to try at work today…

Best regards,

Dr. Dan-o

 

Daniel M. Ladik, Ph.D.,

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

Leadership: Remembering Warren Bennis

Hola Todos!

Today we remember a true leader, Warren Bennis, who passed away last week.  Professor Bennis was a leadership scholar who penned nearly 30 books, which have explored the importance of judgment, the need for transparency, the importance of being adaptive and the secrets of genius teams.

An excellent tribute published in the Washington Post summarized many of Professor Bennis’ leadership theories:

For Bennis, leadership was a personal journey, something individual and introspective that must be learned through life’s experiences. He was a staunch believer that leaders are made not born, formed out of “crucible” moments and struggles that prepare them to lead. As he wrote in On Becoming a Leader — essential reading for anyone — leadership is about self-discovery and self-expression. “Before people can learn to lead, they must learn something about this strange new world.” For Bennis, leadership was a personal journey, something individual and introspective that must be learned through life’s experiences. He was a staunch believer that leaders are made not born, formed out of “crucible” moments and struggles that prepare them to lead. As he wrote in On Becoming a Leader, leadership is about self-discovery and self-expression. “Before people can learn to lead, they must learn something about this strange new world.”

My favorite line from the quote above is “he was a staunch believer that leaders are made and not born.”  I have linked to Professor Bennis’ ideas three times on DigNuggetville.  The first was, not surprisingly, was to stress leaders are made, not born.  The second was to stand on the shoulders of giants to highlight one of my favorite leadership quotes.  Professor Bennis said,

“Three words leaders have trouble dealing with: ‘I don’t know.’  I think good leadership will often start with questions whose answer is: “I don’t know, but we’re going to find out.”

Finally, in learning to fail…forward, I passed along Professor Bennis’ concept of the crucible.  A crucible is an intense learning experience and for almost all of the leaders profiled in his book Geeks & Geezers, their crucible was a horrible failure. Leaders learn from their (horrible) experiences. They fail, but in failing , they then moved forward with their lives to do something even better than before.  Without the their crucible, these leaders would have never reached this better place without their failure.

Go to a bookstore and pick up something excellent from Professor Bennis today…

Best regards,

Dr. Dan-o

 

Daniel M. Ladik, Ph.D.,

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

 

Nugget Keyword Dictionary – What is Bootstrapping?

Hola Todos!

Yesterday, we had an interesting nugget keyword – click bait – so let’s continue the trend and have another nugget keyword, bootstrapping.

Investopedia defines bootstrapping as, “A situation in which an entrepreneur starts a company with little capital. An individual is said to be boot strapping when he or she attempts to found and build a company from personal finances or from the operating revenues of the new company.”

The upside to bootstrapping is the entrepreneur maintains full control as no angel or venture capital money or influence is needed.  The downside is, depending on the situation, it may take longer to scale as the entrepreneur only has personal funds and/or operating revenues to build the business.

As I hinted in yesterday’s post, I will have an announcement for something new coming soon and yes – it will be bootstrapped.

Stay tuned…

 

Best regards,

Dr. Dan-o

 

Daniel M. Ladik, Ph.D.,

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

Nugget Keyword Dictionary – What is Click Bait?

Hola Todos!

I was reading an interesting article on the Apple 2.0 blog and much of the discussion focused on Click Bait.  The Urban Dictionary defines Click Bait as, “An eye catching link on a website which encourages people to read on. It is often paid for by the advertiser (“Paid” click bait) or generates income based on the number of clicks.”

Wikitionary take the definition one step further adding, “Website content that is aimed at generating advertising revenue, especially at the expense of quality or accuracy, relying on sensationalist headlines to attract click-throughs.”

I’m not sure how much click bait is out there but my guess is the percentage is high – very high. Sensationalistic headlines are not new – just take a look at the tabloids on a weekly basis – but that tradeoff of article quality or accuracy for quantity of eyeballs is pushing web sites to aim for the lowest common dominator just for the sake of revenue.  These links/web sites do not generate much value (or none at all) and it’s only a matter of time before consumers are totally attuned to these tricks and therefore, tune out.

Very soon, I will be announcing a new something something from the realm of DigNuggetville, and it will be as far removed from click bait as one can possibly get.

Stay tuned…

Best regards,

Dr. Dan-o

 

Daniel M. Ladik, Ph.D.,

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

The Blueprint: The Best Inbound/Content Marketing Explanation Ever

Hola Todos!

I probably could have stopped at the title and just posted the link and that would have been that but I cannot overstate how nuggetworthy this podcast truly is. I’ve linked to Michael Stelzner’s Social Media Marketing Podcast many times in the past but there are few podcast I listen to over and over again.

Titled “Growing with Content: How to Start a Respectable Platform Other Will Love” is basically the story behind how SocialMediaExaminer.com got started. In the process of telling his story, Michael gives us much of his “secret sauce.”

Two of my favorite nuggets include: (1) give a gift to a friend and not expect anything in return.  Although he did not mention it by name, this is the Principle of Reciprocity straight out of one of my favorite books of all time. (2) Build relationships early before you need them. This nugget echoes my “farming not hunting” metaphor I picked from Reid Hoffman’s networking book.

Listen to this podcast today, and then tomorrow and again next week…

Best regards,

Dr. Dan-o

 

Daniel M. Ladik, Ph.D.,

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

 

 

 

Time Management Revisited: Rethinking Time and The Power of Multipliers

Hola Todos!

Time management has been a common theme on DigNuggetville going all the way back to Post #7 on August 22nd, 2011 – “Big Rocks First!

Today’s time management nugget is courtesy of Jennifer Aaker, the General Atlantic Professor of Marketing at Stanford’s Graduate School of Business. In her 4-minute video featured on the Leanin.org blog, Professor Aaker tells us not to multi-task in attempt to accomplish multiple different goals at the same time.  Rather, Professor Aaker asks us to rethink time and work on one activity that can fulfill multiple goals.  She calls this nugget a “multiplier.”

On a related note, Professor Aaker is a stellar marketing scholar and I would put very few professors in her echelon.  Back when I was in my doctoral program and President of American Marketing Association’s Doctoral Student Special Interest Group (DocSIG), Professor Aaker graciously agreed to be the keynote speaker at one of our conferences.  She recently published an excellent book titled “The Dragonfly Effect” which details effective and powerful ways to use social media to drive social change. A fantastic presentation on the book by Professor Aaker titled “How Ideas Take Flight” can be found on the Stanford Entrepreneurial Thoughts Leaders series.

Something to check out today…

Best regards,

Dr. Dan-o

 

Daniel M. Ladik, Ph.D.,

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

RE2PECT: One of the Best Ads of the Year

Hola Todos!

Yesterday, Nike’s tribute ad to retiring Yankee legend Derek Jeter was buzzing all around the blogosphere – and rightfully so.  It is without question, one of the best ads of the year. Even at 90 seconds, I watched it once and then I immediately watched it again.

Created by famed agency Weiden + Kennedy, the ad begins with long time (1951-2007) Yankee PA announcer Bob Sheppard stating, “Now Batting for the Yankees, Number 2 Derek Jeter, Number 2.” Soon after, we see #2 running through is trademark routine, which includes a sight tipping of his cap. The pitcher, Red Sox’s Jon Lester returns the tip and that small acknowledgement goes viral including dozens of celebrities.

My two favorite hat tips in the ad are: the Red Sox fans in the Boston bar (their facial expressions are priceless) and the Godfather-esque scene in the dark restaurant with retied Yankees Mariano Rivera, Andy Pettitte, Joe Torre (in the middle, of course), Tino Martinez and Jorge Posada.

Check out that ad today…and watch it twice…

Best regards,

Dr. Dan-o

 

Daniel M. Ladik, Ph.D.,

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

Summertime Book Recommendations: 2014 Edition – UPDATE

Hola Todos!

Earlier this summer, I posted a number of excellent books for the 2014 Summer Book Recommendation Reading List. We all need a new nugget or two to expand our knowledge base and a good book is an excellent way to accomplish that goal. Here’s what I’ve read so far:

-The Humor Code by Peter McGraw: Excellent – I’ve always been interested in how humor can make someone more likable

-Social Media Explained by Mark W. Schaefer: Perfect for my fall social media class – I now have some more nuggets to pass along

-The Checklist Manifesto: How to Get Things Right by Atul Gawande: Different – not what I was expecting – sort of like a giant New Yorker article meaning great storytelling and less theory (although the theory is there in the reference list).  In sum, the more complicated something is, the more you need a checklist so you don’t miss something

-Jony Ive: The Genius Behind Apple’s Greatest Products by Leander Kahney:  This is a must read for any Apple/tech industry watcher. Design (e.g., how something works and NOT how something looks) is embedded into the culture of Apple and I feel is one of the main key distinctions between Apple and everyone else

Here is what I’ll be reading next:

-The Everything Store: Jeff Bezos and the Age of Amazon by Brad Stone: I am leading a discussion this fall at Seton Hall on Amazon and there is not a more complete book out there on the Amazon mindset

-The No Asshole Rule, by Robert Sutton – an interesting leadership book: My wife read this while I was reading The Checklist Manifesto and I’m working on a salesforce study that I’m sure this book would be helpful

 

Happy reading…

Best regards,

Dr. Dan-o

 

Daniel M. Ladik, Ph.D.,

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

Brands, Brands, Who Owns the Brands?

Hola Todos!

I need to apologize for the radio silence for the past few weeks.  It’s summer and summer is all about being outside.  We also had an incredible vacation to Puerto Rico for some R & R.  But the main reason DigNuggetville has been quiet (but not my Twitter stream) has been the World Cup – I’m totally addicted as I have been since 1982 when I saw Italy win it all.  I’ve watched better than 80% to 90% of the matches and if you include highlights, I’ve seen them all.  This Tuesday and Wednesday afternoons, as well as, Sunday are BLOCKED for the semifinals and final matches.

That said, one of my Seton Hall students, Zachary Joback, sent me an interesting email over the weekend:

Hey Dr. Dan-O,

I was on Facebook and found this cool picture of all the major brands and who owns them all. Thought you’d think its cool and / or could use it in your classes. Also, here is a link to the page for some other cool graphics you can use.

I agree Zach – this is cool stuff.  Most of the time, infographics present some weak material via social media in a user-friendly graphical way; sort of like a quick sugar rush from a candy bar that the feeling doesn’t last.  These, however, are much better than most.  While not perfect, these infographics do a nice job of illustrating the myriad of brands and the few firms that really own them.

Something to check out today… 

 

Best regards,

Dr. Dan-o

 

Daniel M. Ladik, Ph.D.,

Associate Professor of Marketing

Stillman School of Business

Seton Hall University