Two Benefits of Hosting Comic-Con in San Diego

Over a hundred and thirty thousand people attended this year’s Comic-Con convention in their enthusiasm to submerge themselves in the spirit of “geekhood”. Comic enthusiast contributed $203 million and booked over 378,000 rooms in the area over the past three years (1). This means big windfalls for hotels, restaurants and other businesses in the area. 

There are two benefits from Comic-Con that helped to steer a course for San Diego. The first is the immediate benefits to local businesses and the second is the long-tail of marketing of San Diego to the world. Businesses may see a short burst of revenue but also may find their environment improving over the long-run. 

Sometimes people need an excuse to see the beauty of San Diego. Conventions such as Comic-Con give young people a reason to visit San Diego who might have otherwise have optioned for another place. Some of those people will be impressed by the area and may come back for a vacation or another time when a large event is being held. 

Just in the same way as Comic-Con grew from a small event in the 70’s, to the powerhouse draw of celebrities today, areas also grow in appeal. Because we are creatures of habit, visiting once often perks our interest into visiting again. The same mental processes occur in consumer choices in events or any other buying behavior. 

Some businesses will receive enough revenue during this period that it makes a difference between hiring another employee and laying off another employee during the year. Small businesses need this revenue to increase their profit margins and make small changes in their expansion. Hotels, restaurants, bars, retail, and other associated establishments should have seen a spike in revenue. 

Comic-Con offers value for the area and should be encouraged. Whether we are concerned about marketing the area to the rest of the world or getting a little extra cash into the hands of local businesses owners the value of similar events cannot be underestimated. With San Diego’s vacation weather it should be a popular option for future events.

Managing for Others or Managing for Yourself

Managing is an art form that relied heavily on critical thinking and communication skills to keep large groups of people working toward the same goals. Stronger managers focus on the development of their teams to meet market needs. People who can manage for others versus themselves is a great asset any organization. Managers who can meet performance goals and do so in a way that creates a better department should be in high demand. 

It is in our natural best interest to manage for ourselves and this can make it a difficult competing ideology against managing for others. When someone becomes aware they should manager for others they have done so against the backdrop of years of learning, insight and reflection.  People who create these conclusions have thought about what is important.

They must also be able to step above their biological and emotional needs to take a higher road in workplace decisions. When choices are required they look to promote the group over themselves. This can be difficult if someone is still struggling with unresolved issues.  We see this over and over again among people in leadership positions making self-interested decisions. 

Consider how one manager will take the credit for work by their subordinates while another will give credit where credit is due. The first still has overpowering needs to feel important, competent, secure and liked. They are willing to break social norms and trust in order to get the next promotion or raise.  The latter person has resolved their issues and can step above them to create greater trust with their team.

Hiring managers is more than meeting metrics. Even though meeting is important it is also necessary to continue to meet them over and over in a sustainable way. If a manager brings his/her team to a higher level of performance and solidifies their trust they can keep the performance at a higher level for longer periods. Poor managers will only hit the target for a short period of time until subordinate’s motivation decreases.  Building a team, keeping people engaged and motivating them to a purpose is the ultimate purposes of “management”.

Balancing Your Budget and Developing Long-Term Savings

There are many things to buy and in today’s consumer culture it is more difficult than ever to say “NO”. Learning to live within your means and save for the future is a discipline you can learn over time to create financial security. Putting effort into changing habits makes a big difference in how successful you will be in creating a savings plan.

Balancing your budget is as much about habit as it is about planning. Learning where to find deals on products, understanding value, and making better choices takes time to ingrain as a way of thinking. Start small and slowly move toward higher levels of spending discipline.  You can still get what you want but should learn the best use of your money.

You will have to give up the idea of spending as a type of wealth. If you are truly wealthy you can spend on lots of things you enjoy; but they do it with cash. Wealthy people don’t normally just waste money and have a keen sense of value. Spending all your disposable income and maxing out your credit cards has nothing to do with wealth.

Make a differentiation between what you need and what you want. There are differences as paying for your needs food, shelter, clothing, car, etc. are your baseline. This is where you can live a reasonable life without extras. What you want is everything else you spend on top of your baseline.

Spending choices are an extension of how you see yourself. If your self-perception is trendy you will buy the latest and greatest products that are popular on t.v. or you may gravitate toward sports and sport products. Getting your ego under control can go a long way in helping you save money. Ask yourself if this is really something you need?

There are two hurdles to saving money that include your habits and your self-perception. Changing both can lead to better fiscal choices and higher levels of financial security. Start small and make little changes until you start creating a cushion in monthly income.  Make a habit of putting that money away for long-term savings so that market rates can help you to your goals. Over time these choices will add up to serious cash in your bank account.

Will San Diego’s Increasing Exports Lead to New Employment Opportunities?

San Diego’s economy is picking up speed in ways that may lead to greater employment opportunities. According to the U.S. Department of Commerce, San Diego realized $18.6 billion worth of goods which is a substantial increase of over $700 million from 2013 (1). Should the city expect increasing employment opportunities in the near future?

The majority of exports was in computers and electronics, transportation, machinery, plastics and rubber, metal, and processed food. In these sectors greater sales often lead to greater profits and expansion of buyer networks that often leads to production expansion for companies. 

Corporations expand production to sell more items while seeking to increase their returns from economies of scale. Expanded production sometimes leads to more efficient operations which in turn impacts profit margins. Profit margins stoke the fire of expansion as firms have healthy returns and seek to maximize those returns through additional investments. 

It is those investments in capacity that eventually leads to increasing employment.  Highly skilled and educated employees are likely to find higher wages than employees that have not learned market relevant skills. 

The economic system relies on exports and sales. Only through pro-growth strategies that encourage alignment of the local hubs to international needs can long-term employment stability be found. When market adjustment doesn’t happen, or employment is artificially inflated through excessive legislation, there will be long-term economic consequences.

San Diego should expect increasing employment opportunities in those sectors that have long-term relationships/contracts with international companies and fit within current growing market trends. A boom in growth in 2014 often results in increased hiring in 2015. There are many other factors that can impact this but if the invisible free market hand takes precedence we should see new hiring.

Keeping Customers at the Center of Your Business

Customer satisfaction is the vital sign that acts like a pulse to the health of the rest of the organization. Companies that keep their customers in focus win over the long run. Ensuring that policies & procedures, training, recruitment, facilities and resources are focused on customer satisfaction is important for sustainability.

All businesses are in the business of serving customers. How many cars would sell if they didn’t serve the needs of their customer? Would it be any different for a spa or vacation? Companies that make the mistake of not running their daily operations with the customer in focus eventually start seeing the errors of their ways through poor customer retention and sales. 

Policies & Procedures: The internal mechanisms and operations should ensure every activity is focused on the customer. 

Training: Training should seek to ensure quality completion of jobs and friendly customer interactions; it should set the standard for employees. 

Recruitment: The right kind of personality should be sought after in all recruitment decisions. 

Facilities: All organizations should be designed around the needs of their customer through décor, functionality, and proper use of space. 

Resources: Reinvesting in value producing products and services. Resources should not be wasted on activities not in alignment with strategic initiatives

Get the Most Out of Your Self-Defense Class

The world can sometimes be a dangerous place. I read last week about a lady who was in a shopping mall and got into a verbal altercation that later resulted in being jumped by others. The sad story occurs over and over throughout the country. Having basic self-defense classes helps in raising your confidence levels and giving you those few moves that can protect you from serious injury.

I have been doing Kenpo for a few years, engaged in martial arts previously, and do some kickboxing but decided to attend a free self-defense class. I learned very quickly how the basics can help you. A few simple moves can go a long way when you don't have time to think and things heat up quickly.

For example a chicken wing block whereby your put your elbow up by the side of your head is simple and easy to remember and protects your head from injury. Soft spots such as the neck, eyes, groin, and nose are very helpful for striking which puts an opponent down quickly. It doesn't take much to give yourself the few moments you need to escape.

Everyone should learn the basics. Kids might need a basic self-defense class that protects them while others could use a few counter strikes to stun or injure their opponent. Students should be able to understand the difference between self-defense, playing around, and being an aggressor.

8 Standards of International Corporate Ethics

Ethics goes a long way in building trust in an international business system. As information spreads faster along quickening fiber optic cables the world will continue to integrate in terms of interrelated laws, regulations, cultures, and business standards. Having an international standard of ethics is important in ensuring that companies are encouraging  better business environment. 

 When companies move into international locations they will need to understand and respect the cultures of those nations. There is a difference between respecting local culture and becoming involved in unethical practices. When few options are left, organizations can seek to remove themselves from such countries. Each company will decide what they stand for.

Today’s world needs a new way of looking at business and how that business interacts with other countries. Developing strong international ethical systems means that both companies and countries come to an understanding of what a “good international citizen” is. Below you will find 8 ethical standards (Be George, 1997):

1.      Do not intentional direct harm.

2.      Produce more good than harm for host countries.

3.      Contribute to the host countries development.

4.      Respect human rights.

5.      Respect local culture.

6.      Pay a fair share of taxes.

7.      Cooperate with local government when beneficial.

8.      Withdraw from a country if it becomes impossible to act with integrity.

De George, R. (1997). Human rights and the multinational enterprise. Dilemma, 6, 6–14.