How can small businesses best use cutting-edge technologies? Geo-fencing is a great example, providing location-based advertising to drive traffic, revenue, and ROI for local businesses. What does the future hold for small businesses as they integrate advanced tech to personalize customer experiences?

In this episode of the Value Creators Podcast, Hunter Hastings explores these questions with Barbara Wardell and Ernesto Cullari of Cullari and Wardell, a pioneering service provider in geofencing and location-based marketing solutions. Barbara and Ernesto share their expertise in helping small and medium-sized businesses harness advanced technologies to attract customers, increase conversions, and create sustainable growth.

They emphasize a customer-centric approach, leveraging tools like GPS tracking and demographic data to tailor highly targeted ads that resonate with local audiences. By combining technology with a deep understanding of small business challenges, they demonstrate how geofencing can deliver measurable results, from attracting new customers to optimizing location choices based on foot traffic studies.

Barbara and Ernesto also discuss the importance of hyper-specialization, ROI measurement, and the evolving future of advertising, where AI and privacy-sensitive data play a pivotal role. For small business owners, this episode offers actionable insights into leveraging big tech to compete effectively while maintaining the personal touch that defines their success.

This conversation is a masterclass on how to think and act as value creators, showcasing how innovation, technology, and customer focus can unlock new opportunities for small businesses.

Resources:

➡  Learn What They Didn’t Teach You In Business School: The Value Creators Online Business Course

Barbara Wardell & Ernesto Cullari’s Agency

Connect with Hunter Hastings on LinkedIn:

The Value Creators on Substack

Knowledge Capsule:

 The Role of Small Businesses in the Economy

• Small businesses are the “heart” of the economy, offering personalized services and filling niches that large corporations overlook.
• The success of small businesses relies on their ability to remain competitive by leveraging technology and better communication to attract and retain customers.
• Examples like family pharmacies and local doctors’ practices illustrate how personalized service can outperform larger corporate competitors.

Leveraging Big Tech for Small Businesses

• Small businesses can now access advanced technologies traditionally reserved for large corporations, such as geofencing, big data, and targeted advertising.
• This technological democratization allows small businesses to compete effectively with larger rivals.
• Tools like GPS tracking, mobile targeting, and data analysis are used to level the playing field.

Introduction to Geofencing

• Geofencing involves drawing virtual boundaries around specific locations to deliver targeted ads based on customer behavior.
• Businesses can target competitors’ customers, drawing them to their services by offering personalized and timely advertisements.
• The technology tracks customer visits and can distinguish between natural traffic and those influenced by advertising.

Advanced Targeting Capabilities

• Geofencing allows businesses to target specific demographics and behaviors, such as lease renewals for car dealerships or specific zip codes for localized ads.
• It can be used for niche industries like laundromats, tailoring ads to different languages and regional preferences to maximize customer engagement.
• Event-specific targeting and weather-based ads expand the application range of this technology.

The Value Learning process in Advertising

• A comprehensive value-learning approach ensures that customers are targeted at every stage, from value awareness to value conversion.
• Tools include connected TV, audio ads, online retargeting, and native ads, all tailored to different stages of the customer journey.
• Businesses are advised to utilize a mix of media to guide customers from first exposure to making a purchase.

ROI Measurement and Long-Term Data Analysis

• Geofencing provides precise ROI metrics by tracking customer visits and conversions.
• Businesses can calculate the cost per visit and compare it with customer lifetime value to ensure advertising effectiveness.
• Long-term foot traffic studies help identify trends, customer behaviors, and optimal business locations.

Applications Across Industries

• Geofencing is versatile, used in diverse sectors such as retail, healthcare, real estate, and events.
• Examples include targeting hurricane-affected areas for home repairs, or specialized clinics using connected TV ads to reach potential patients.
• Industries like HVAC services and medicine can also benefit from targeted advertising strategies.

The Future of Technology in Small Businesses

• The future will see more small businesses integrating AI-enabled tools for ad creation and management.
• Geofencing is set to expand, leveraging privacy-sensitive location-based data for highly targeted and effective advertising.
• The concept of “extended businesses” allows small companies to outsource expertise and access big tech solutions without significant in-house investments.

Importance of Specialization

• Specializing in a niche, such as laundromat advertising or HVAC services, allows businesses to master their offerings and outperform competitors.
• Cullari & Wardell exemplifies this by focusing on geofencing and scaling its expertise to new industries.
• Hyper-specialization fosters innovation and positions businesses as leaders in their fields.

The Role of Personalized Messaging

• Personalized and localized advertising resonates better with target audiences and builds trust.
• Ads on platforms like Amazon, Hulu, or Spotify enhance credibility and help businesses appear more professional and trustworthy.
• Tailored messages, such as targeting customers during lease renewals or specific community events, drive better engagement.

The Power of Foot Traffic Studies

• Foot traffic studies provide actionable insights into customer behaviors, helping businesses select optimal locations or plan expansions.
• By analyzing trends like demographic shifts or shopping patterns, businesses can adapt to changing market forces.
• These studies also help businesses align their offerings with local economic conditions.

Overcoming Technological Barriers

• While technologies like geofencing can be intimidating, partnering with experts ensures effective implementation.
• Businesses can start with affordable ad spends and scale up as they grow, making advanced marketing accessible even for smaller budgets.
• Agencies like Cullari & Wardell provide the expertise to close the loop on advertising by linking campaigns directly to measurable outcomes, like foot traffic and conversions.

Has the pace and volume of change increased in the modern age? Is dealing with change more of a problem for businesses today than in the past? What is the recommended way to manage change?

Erik Schön is a student of ancient philosophy, and he reminds us that the challenges raised by change are ancient, not modern. And the ancients had good ways to deal with them. In this episode of the Value Creators podcast, Erik Schön discusses the genesis of his book, The Art Of Change, the latest of a trilogy of works that include The Art of Strategy and The Art of Leadership. Erik distills highly relevant ancient wisdom, particularly from texts like The I Ching and Lao Tzu’s Tao Te Ching. He builds a modern business application from these classic ideas based on his extensive experience in leadership and strategy.

Resources:

Connect with Hunter Hastings on LinkedIn

The Value Creators on Substack

Connect with Erik Schön on LinkedIn

Get Schön’s book on Amazon: THE ART OF CHANGE: Patterns for Success.

Yokoso Press

Show Notes:

0:00 | Intro
1:20 | The Art of Change: Background
4:34 | Practitioner’s Point of View: Developing a Resilient, Adaptable Mindset
7:53 | Persist with Change through Perseverance
11:29 | Balancing Proactive Action with Patience
14:17 | Finding Balance
15:17 | Erik’s Idea: Is Learning defined as Knowledge Accumulation?
16:06 | Flow of Knowledge and the Flow of Learning
18:24 | Embrace Natural Flow; Avoid Forceful Actions.
19:59 | Balancing of Two Elements at the Same Time
21:59 | Integrity
23:54 | Finding Balance in Flexibility and Integrity
24:36 | Idea of Purpose
27:29 | Integrity and Flexibility Guide Practical Actions
31:04 | Harmony
34:10 | Maintaining Direction Fosters Persistence and Integrity
36:39 | The Subtitle of The Art of Change is Patterns for Success
39:41 | Six Questions in Each Chapter
42:00 | Embracing Change as an Art Form: Left Brain Thinking
45:02 | Wrap – Up

Knowledge Capsule

Erik Schön’s trilogy includes:

• The Art of Strategy (inspired by Sun Tzu’s The Art of War)
• The Art of Leadership (inspired by Lao Tzu’s Tao Te Ching)
• The Art of Change (inspired by the I Ching)

The sub-title of The Art Of Change is “Patterns For Success”.

• Patterns emerge from complex adaptive systems; they are not always predictable but form as individuals interact with their environment.
• “The Art of Change” book presents these patterns as 64 chapters, offering timeless insights that guide users based on specific challenges or goals.
• Each chapter contains six questions aimed at prompting reflection and offering multiple perspectives for addressing current challenges, such as teamwork.

Using Patterns to Address Teamwork

• Six guiding questions for teamwork include aligning collaboration approaches, matching skills with needs, and fostering feedback, integrity, and support.
• These questions are designed to deepen understanding and provide actionable insights for collaborative effectiveness.

The Concept of Art in Change, Strategy, and Leadership

• Viewing leadership and change as an art emphasizes balance between structure and creativity, blending practical wisdom with structured approaches.
• The term “art” contrasts with rigid, formulaic methods and encourages adaptive, context-sensitive responses.

Erik’s aim in The Art Of Change is to offer a practitioner’s perspective, using first principles from ancient times to address modern leadership, strategy, and change.

Are we experiencing an increasing rate and amplitude of change in today’s world? It’s a concern that has persisted throughout history. Erik argues that change has always been a part of human existence and draws parallels to ancient times in China, emphasizing that despite turbulent conditions, people found ways to thrive.

They did so with the right mindset that prepared them for a full range of changes. Erik introduces the idea of balancing expectations with surprises in order to maintain flexibility in decision-making. He advises minimizing expectations to avoid being caught off guard and to stay present in the moment.

Erik Schön explores the concept of balance through the lenses of integrity, flexibility, purpose, capability, competition, collaboration, and harmony, drawing insights from the I Ching.

• Integrity and Flexibility: Schön describes integrity as a combination of heart, mind, and gut feelings, and walking a straight path while maintaining flexibility in different contexts. The balance between integrity and flexibility is crucial, as one must adapt while remaining true to oneself.
• Purpose: Schön explains that purpose, represented in I Ching, can be both individual and collective. It involves guiding one’s life and actions (or a group’s) like directing a river to prevent flooding, signifying the importance of having direction in fulfilling personal and organizational goals.
• Capabilities and Competition: Capabilities refer to the ability to meet stakeholders’ needs. Rather than focusing on competition as winning, Schön advocates for a perspective of collective success, emphasizing collaboration to achieve shared purposes. This view aligns with I Ching’s principles, which stress teamwork as essential for survival and thriving.
• Harmony: Harmony is likened to music, where individual elements (or team members) come together to create a coherent whole without losing their distinct qualities. Schön uses a culinary metaphor to illustrate this, where diverse ingredients enhance each other’s flavors, underscoring the value of coordination and diversity within unity.

Eric encourages embracing both practical strategies and the artistic elements of change for personal and organizational development.

Understanding Change and the Role of Mindset:

• Schön advocates for a mindset that expects both the expected and the surprising elements of change, as this balance prepares leaders to adapt flexibly.
• He uses the concept of approaching situations without rigid expectations, which helps reduce surprises and enables practitioners to remain adaptable and in the present moment.
• By staying present, individuals can better navigate change, manage expectations, and avoid being overwhelmed by unexpected challenges.

Perseverance and Balance in the Face of Change:

• Perseverance is illustrated through mythical stories such as the carp, symbolizing persistence by overcoming challenges to transform into a dragon, the ultimate shapeshifter.
• Schön highlights the importance of balancing action with patience, drawing from I Ching‘s principle of “timely balance” to decide when to act or wait.
• This balance—knowing when to push forward and when to observe and adapt—enables leaders to remain resilient and responsive to the dynamics of change.

Balancing Patience and Action

• Embracing both patience and action simultaneously allows for adaptable and mindful decision-making.
• Achieving a mindset that can “hold two thoughts at once” is key to navigating complex situations.

Integrity in Yijing Philosophy

• In Yijing, integrity is depicted as “walking straight, following your heart and mind,” symbolizing alignment between one’s gut, emotions, and intellect.
• The Chinese character for integrity combines symbols representing heart, mind, and action, conveying a comprehensive approach to personal alignment.

Flexibility as Complementary to Integrity

• Flexibility involves staying open to possibilities and adapting to each moment while maintaining one’s core integrity.
• True balance is found by discerning when to uphold integrity and when to adapt, avoiding over-flexibility that can compromise values.

Continuous Journey of Balance

• The balance between flexibility and integrity is a journey rather than a fixed destination, continually influenced by context.
• Erik describes this adaptability as the “art of being human,” a practice of responding thoughtfully to the people and situations of each moment.

Purpose in I Ching and Business

• I Ching views purpose as both a personal direction and a guiding force for teams or organizations, similar to the concept of the Tao (The Way).
• The Chinese character for purpose is illustrated by a moving foot and head, symbolizing purposeful direction in life or leadership in teams, and even society.
• Purpose in I Ching is also metaphorically represented by guiding a river to prevent flooding, highlighting purpose as a force that shapes and controls the flow of actions.

Ancient Principles in Modern Context

• Terms like purpose, integrity, and flexibility, though perceived as “soft” concepts, are vital operating principles, as seen in organizations like the US Marines.
• These principles bridge ancient wisdom with present-day needs, reminding that humanity’s fundamental values have remained consistent across time.

Capabilities and Competition in I Ching

• I Ching emphasizes building capabilities to meet stakeholder needs, aligning with business goals to serve customers and colleagues effectively.
• Competition is reframed as a path to success, achieved by fulfilling one’s purpose alongside stakeholders rather than purely defeating competitors.
• Collaboration takes precedence in the I Ching philosophy, emphasizing teamwork as essential for achieving shared goals, mirroring societal reliance on cooperation for survival in historical agricultural communities.

The Concept of Harmony

• Harmony is illustrated with musical and culinary metaphors, where diverse elements (like notes or ingredients) complement each other without losing individual qualities.
• The Chinese character for harmony combines rice and mouth, symbolizing the blend of unique contributions into a cohesive whole, promoting unity of purpose.
• Harmony is key in team settings, encouraging diversity in roles (e.g., team members with different skills in a sports team) while aiming for alignment and coherence.

Direction and Persistence

• Direction is a central theme in I Ching, encouraging individuals and organizations to maintain their path and purpose, even when obstacles arise.
• Persistence, reinforced by a clear direction, allows flexibility to adapt while staying true to core values, fostering long-term balance and integrity.

Direction and Purpose in Leadership

• Emphasizing a clear direction and a purposeful “north star” helps guide organizations and teams toward meaningful goals.
• The purpose may evolve, but the consistent movement toward it creates learning opportunities and prevents stagnation.
• Even without a precise destination, moving towards purpose allows teams to adapt and adjust direction as needed.

Patterns for Change and Success

• Patterns emerge from complex adaptive systems; they are not always predictable but form as individuals interact with their environment.
• “The Art of Change” book presents these patterns as 64 chapters, offering timeless insights that guide users based on specific challenges or goals.
• Each chapter contains six questions aimed at prompting reflection and offering multiple perspectives for addressing current challenges, such as teamwork.

Using Patterns to Address Teamwork

• Six guiding questions for teamwork include aligning collaboration approaches, matching skills with needs, and fostering feedback, integrity, and support.
• These questions are designed to deepen understanding and provide actionable insights for collaborative effectiveness.

The Concept of Art in Change, Strategy, and Leadership

• Viewing leadership and change as an art emphasizes balance between structure and creativity, blending practical wisdom with structured approaches.
• The term “art” contrasts with rigid, formulaic methods and encourages adaptive, context-sensitive responses.