Experiences Matter

It’s a long and winding road

I’ve been privileged the last few weeks to be in England, the Netherlands, France, and Spain. 

On a long trip, there is relief and comfort in knowing exactly what you’ll get when you walk into a globally branded shop like Starbucks, WH Smith, Carrefour, or Zara. It creates mental ease to have a standard you can count on for assortment, product quality, and price.

It’s also generic and soulless. While my HeatTech layer made the chilly Paris leg of the trip more enjoyable, the visit to Uniqlo was entirely utilitarian. 

Place is now experienced through cultural institutions, sporting events, and small businesses. My memorable moments came in independent shops and restaurants. I bought blue ceramic Christmas tree ornaments at an Amsterdam antique shop, drank beer made by monks in a deconsecrated church in Utrecht, had paella made by a grandma in Valencia, and shared a small batch wine with a group “on their lunch break” at a bistro in Paris. 

Think about what makes your business different. Embrace and celebrate it. It’s hard to provide a unique experience at scale

Customer service is also a newly valuable area of differentiation. This holiday season, did you notice that wait times and error rates were up substantially? Did you experience “not my problem” attitudes? As free money has dried up, generous D2C retailers have quietly curtailed their support staff and generous return policies.

Full days of my pre-, during, and post-vacation time have been spent on chat or on hold, often to correct errors I didn’t make that yet are somehow my financial responsibility. (I’m looking at you, AmEx Travel.) 

Health insurance renewals were also quite late, continuing right up to the 15 December deadline regardless of how prepared or vigilant you may have been. And pre-ACA shenanigans have returned, even for ACA policies. 

Most of us expect companies and people to get things right, in a timely way. That isn’t happening right now. We’re at peak cost cutting, which removes managerial experience and institutional memory. The current norm is generic, poor service that wastes your time and makes you fight to get your money back. 

If you can perform reliably and accurately, it’s a major advantage. Also if you have humans who are personable. Not every person values their time. But find those who do and treat them well.

January task: 1099s and W-2s

A reminder, you need to file and distribute your 1099-NECs and W-2s by January 31.

W-2s must be filed with state and federal agencies and provided to your employees. W-2s reflect wages, taxes withheld, and pre-tax contributions like retirement and health insurance. More on W-2s here.

1099-NECs must be provided to sole proprietors and LLCs that you paid at least $600 in 2023 via your bank account. You do not need to issue 1099s if you paid your providers by credit card. If you’re not sure who needs a 1099, check out this article from our blog. 

1099s come in a few varieties beyond contractor payments. If you’re curious, check out all the 1099 types here. 

January AMA Replay 

Thanks to those of you who joined our first AMA of 2024. Access the replay here. Topics are time stamped in the description.

This year, I’ll be hosting live AMAs on the 2nd Thursday of each month at 10 AM Pacific. Add the remaining 2024 dates to your calendar using the link below.

Two ways to work with me 1:1 in 2024

Two ways we can work together 1:1:

1. Advisory Guidance: this NEW offering makes me your “who do I ask?” person. Over 12 months, it includes live 1:1 consulting with me and real time support for operating issues and questions. See the full details here. 

2. Business Design Bootcamp: if you’re ready to define a sustainable growth plan centered on impact, we have confirmed flagship Business Design Bootcamp spots available for February, March, April, and September. The Business Design Bootcamp is a top-to-bottom redesign of your corporate strategy, defining your centering principle and impact you want to have in the world, with support to pivot your operations into the new model. Learn more about the BDB here.