Entrepreneurship and growing businesses

Michael Field was recently interviewed by The Profitalist for their Entrepreneur Insider Series. He shares his views on the future of marketing consulting industry, entrepreneurship and growing the businesses.

Below is an excerpt. The full article can be found at: http://www.profitalist.com/entrepreneur-insider-series-michael-field-michael-field-strategic-marketing-consultants/

Q: Where do you see your industry heading in the next 5 years?

A: The marketing industry is benefitting enormously from technology and globalisation. One positive impact is that we can now source talent from a global talent pool and increase our productivity by optimising workflow across time zones.

I see an ever-increasing reliance on technology, increased in-house marketing capabilities and talent development (especially in business development, account and relationship management) as key drivers for success in the future.

Q: What do you plan on doing/changing in order to keep growing in this time period?

A: Our business has evolved from a single person consultancy to a fully integrated strategic marketing consultancy, advertising agency, and PR, media and communications consultancy.

To remain competitive, we need to be at the forefront of these changes, ensuring that we are taking our clients with us on the journey. We are more focused on developing our client attraction and retention strategies while simultaneously developing global reach and expertise in our talent pool.

Q: What one piece of advice would you give to someone just starting out in your industry and wanting to make it to the top?

A: The one piece of advice I would offer is this: Ask yourself if you are truly committed to doing this for the long haul.

This is not a ‘get-rich-quick’ industry. It is built on long-term, mutually beneficial trust relationships. Relationships take time to build, cultivate and harvest. If you are going to set up a marketing or strategy consulting business, it is a lifestyle choice, which has multiple demands on you and your time. The rewards are not all financial. Much of the rewards for the first several years are simply surviving, winning the next deal, building strong relationships and delivering high quality work. Ask yourself if you are really up for it!

Article link: http://www.profitalist.com/entrepreneur-insider-series-michael-field-michael-field-strategic-marketing-consultants/

Contributor:

Michael Field, Managing Director for Michael Field Pty Ltd.

Sounds Like Hard Work?

Some people say I work too hard.

I am not working too hard, I am building a better and more prosperous future for my clients, my family, my team and my community.

You can never work too hard for things you care deeply about.

Contributor:

Michael Field, Managing Director for Michael Field Pty Ltd.

What are you grateful for today?

I have started asking myself this question every morning, with surprising results.

Gratitude is not a new concept. It has been an integral part of religion and philosophy since before Cicero famously said “Gratitude is not only the greatest of the virtues but the parent of all others.”

According to Wikipedia, the systematic study of gratitude within psychology only began around the year 2000. I am not sure how accurate that is given the progressive nature of pop psychology of personal development, however I have noticed a massive increase in the focus on, and study of gratitude in business over the last few years.

I will be honest – at first I was skeptical and thought it was just hippies being nice. (God knows what that says about my attitude and me at the time.)

Over time, I have found time to slow down, reflect and focus more on others rather than myself. I have come to recognise gratitude as a powerful, yet calming influence on my business and personal life. For example:

  • I am grateful for my beautiful wife and the incredible love and care she provides our son
  • I am grateful for our handsome and healthy young son and the life ahead of him, brimming with potential
  • I am grateful for my own health and my inquisitive mind, and the power of human potential when applied to meaningful pursuits
  • I am grateful for my clients – how they trust me and teach me at the same time
  • I am grateful for my team and the people who have supported my business and me through great and challenging times…

You see, just the process of writing the above few lines of gratitude has already filled me a sense of wellbeing and optimism for the day.

What is your experience with gratitude and how has it helped you in your personal or business life?

Contributor:

Michael Field, Managing Director for Michael Field Pty Ltd.