I found an interesting article on the Business Week website: “Social Media Will Change Your Business.” (click here to read the complete article)

This is why I found it interesting:

1. The article was originally printed (yes, old media) in the May, 2005 version of Business Week Magazine.
2. It was also published on-line. The editors say that they continue to see this article downloaded by thousands of visitors.
3. The article is now fully “annotated” with updates, corrections and extensions to the original article.
4. For me, this reveals the true promise of electronic publishing. No longer can we say, “It is set in type.” Dead media comes alive!

For anyone interested in a quick, informative introduction to the world of “Social Media” - and how it may impact your business, your products and your customers - this is your starting point.

If you enjoy the article, share it with your friends. And… tell our readers what you think. Add your comments below.

“People are definitely a company’s greatest asset. It doesn’t make any difference whether the product is cars or cosmetics. A company is only as good as the people it keeps.”

- Mary Kay Ash 

You can compete on price - and most often you will lose (both customers and profits.)

You can compete on products - and sooner rather than later, a competitor will match your selection or copy your technology.

Or …

You can compete by hiring the best people and investing in their development.

The latter is harder to do. But done correctly, it gives your business the best competitive edge. If it is hard for you to develop an outstanding staff, think how difficult it is for your competitor to do. Your people do make the difference - but the leadership of the company has to be invested in hiring and developing the best people possible.

One company that owes its success directly to its investment in its people is Enterprise Rent-A-Car. I was reminded of this twice recently:

1. When I rented a car on my last trip - I enjoy having their employee walk me out to the car for a final inspection before handing me the keys.
2. Reading a post on the Brand Autopsy Blog.

Here are the 8 criteria that Enterprise uses in their hiring practice:

ENTERPRISE RENT-A-CAR
Critical Customer Service Skills

1. A passion for taking care of customers.
2. A willingness to be flexible.
3. A work ethic based on dedication to the company and its mission.
4. An eagerness to learn a new business and work their way up.
5. Self-motivation and goal-orientation.
6. Persuasive sales skills.
7. Excellent communication skills.
8. Leadership ability.

Source | EXCEEDING CUSTOMER EXPECTATIONS (Kirk Kazanjian)

It is not enough to just spot this potential when you are hiring staff. Each of these 8 qualities must be developed - and that require leadership. And… it requires a company culture that expects, rewards and embodies each of the 8 qualities.

How does your business stack up?

How do you compete? On price? With your product? Or with your people?

Share your story or your experience with our readers. Add your comments below.