Tag Archives: marketing counsel

The 2 Most Deadly Sins of B2B Marketing

deadly sinsThere are two major reasons why marketing is failing at your small- or medium-sized B2B firm:

You view marketing as business triage. Your company applies a collection of tactics (often labeled as a “marketing campaign”) only in response to a problem; typically involving the loss of a key client, or decline in revenue. When business is good, little or no time is invested in marketing. When business (inevitably) takes a dip, only then does marketing becomes a priority.

You expect marketing to deliver immediate results. Either because your company always views marketing on a “cause & effect” tactical basis, or because marketing triage must be applied quickly to revive an ailing company, the marketing function is given insufficient time to produce tangible results. It’s no surprise that marketing professionals have the shortest tenure of any corporate function in the asset management business.

The hard truth is that very few B2B business owners either understand the marketing function, or have the discipline to design, implement, measure and adhere to a consistent marketing approach that builds brand equity and market engagement over a sustained period.

To establish the infrastructure and internal culture necessary for the marketing discipline to succeed, we offer the following simple path:

  • Create a Written Marketing Plan. This need not be in a 3-inch binder; a two-page document is often sufficient. Include goals, strategies, responsibilities, timelines, budgets and ways to measure results. Without a Marketing Plan you’ll waste lots of time and money. And unless it’s a written document, you won’t have commitment or accountability.
  • Gain Senior Level Commitment. The honcho in corner office (which might be you) must understand, endorse and support the Marketing Plan. This involves more than lip service. If your Plan isn’t properly staffed and funded at the outset, there’s no real commitment to marketing.
  • Do a Few Things Very Well.Your marketing success will be based on the quality and effectiveness of a limited number of strategies / tactics. Firms sometimes go overboard, thinking there’s a correlation between the size of its marketing investment and business results. But less is usually more, in terms of marketing ROI.
  • Build and Nurture your Database.Direct and easy access to your company’s clients, prospects, referral sources and opinion leaders is essential. Without an email pipeline, the marketing value of the content you create is close to zero. If your firm’s thought leadership simply sits on its website or social media, you’re missing the opportunity to build relationships with people in your target audiences.
  • Create Meaningful Content. Self-serving, long-winded white papers and research reports have very limited appeal. Generate content that validates your company’s intellectual capital, that’s easy to read, and focuses on timely topics that people have a genuine interest in.
  • Drive Top-of-Mind Awareness. To be included on the short list of candidates for an assignment or sale, you need to build awareness with key decision-makers. To accomplish that goal, share your content directly with target audiences on a quarterly basis. (More frequently than that, and you may be viewed as a pest.)

Most importantly – with apologies to Glengarry Glen Ross – B2B firms must commit to:

A…..Always

B…..Be

M….Marketing

…for the discipline to be effective. Otherwise, the traditional short-term, hair-on-fire approach to business development will keep your company from ever reaching its full potential, regardless of its quality or reputation.

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PR Playbook: Earning Your Seat at the Senior Management Table

While waiting for the PR profession-at-large to earn a place at the senior management table, current practitioners should develop their own company-specific strategies that will enable them to rub shoulders on an equal basis with their counterparts in finance, legal, marketing, operations or technology. The timeworn adage, “Think globally, act locally,” applies very well here.

Here are a few tactics to consider for your personal campaign to gain a seat:

  • Clarify PR’s Role – The most pragmatic answer to “What is PR?” may be: “Whatever your employer (or client) needs it to be.” Exploration of how the PR profession can be applied to achieve tangible benefits for your organization begins with frank and perhaps eye-opening conversations with senior managers to gain a first-hand understanding of their current perceptions and expectations of PR. You may be surprised at the depth of misunderstanding that exists within your organization regarding your activity and its value. This is an opportunity to clarify what PR does or can do for them, to identify their needs and establish expectations.
  • Get Quantitative – The nature of PR tactics can make it difficult to demonstrate a direct correlation between that activity and tangible business outcomes. Most senior executives accept that reality, and do not expect PR to be a profit center. However, PR practitioners who understand the bottom-line orientation of the business world make it a priority to connect the dots internally, by explaining and highlighting what role PR has played in helping to produce results – whether those outcomes are measured in lead generation, search engine page rankings, revenue growth, employee satisfaction or customer experience.
  • Speak Their Language – It’s not necessary to understand all the technicalities, issues or nuances related to various corporate functions, but you need to know what’s important. For example, your CFO does not expect you to be up-to-date on Dodd-Frank compliance, but does expect you to be well-versed regarding the company’s business model (how it makes and spends money), its competitive landscape, key legislation and enterprise priorities such as market share, acquisition or going public. Speaking your company’s language has less to do with knowing balance sheet terminology, and more to do with being tuned into what’s on the priority list of its senior team and your ability to adapt PR strategies to support those goals.
  • Get Strategic – As a staff function, PR is often viewed as corporate overhead, and expendable when times get tough. Making PR an essential element in line function strategies can build internal support as well as career longevity. To make PR indispensible within your organization, focus on activities that are valued by senior management. These are typically tactics that make the phones ring, or move the revenue needle. For example, drive a successful effort to get your company’s whiz-bang technology included in a respected industry benchmark such as the Gartner Magic Quadrant (ideally, without paying Gartner’s hefty subscription fee), and watch the PR department’s stature rise internally.
  • Act Like an Agency – Outside PR firms live or die by the level of service and results they deliver to clients. An agency’s motivation and enthusiasm are driven by an appreciation that if they fail to meet expectations or add value, they will likely be replaced. Corporate PR practitioners who adopt an agency mindset – treating each operational function as an outside PR agency might manage a client – can build internal support across the organization. From a practical standpoint, this means understanding what your internal clients need, developing tailored plans of action, being accountable for agreed-upon deliverables and maintaining a sense of urgency.
  • Be Fearless – You must serve as the PR function’s ambassador within your company. Keep the pom-poms in the file cabinet, but don’t be shy about discussing what’s working, as well as what’s not and why. If you don’t point out PR’s contribution to the top or bottom lines, no one else will. Conversely, if you don’t put shortcomings out on the table, someone else is likely to do that for you. And if you’re in an environment where honest conversations regarding success and failure are not fostered, then it may not be a management table where you want to be seated.
  • Get a Life – A PR practitioner’s internal reputation and stature are also shaped by professional involvement outside of the company. Your public relations skills can be of great value to civic, charitable and cause-related organizations, and regardless of the motivation for contributing your time, these affiliations represent 3rd party validation of your expertise. This experience also broadens your career horizons, sharpens your professional capabilities and can be personally rewarding and fun.

Best practices established by individual PR professionals – not PRSA lobbying, or PR courses in MBA curricula – represent the profession’s most valuable resource in its effort to move public relations from the management farm team to the big leagues. Over time, as more practitioners gain seats, including PR in the corporate decision-making process is likely to become standard practice, rather than the exception.

Bill Gates learned the “by invitation only” lesson the hard way when he was denied admission to the prestigious August National Golf Club, because he publicly expressed an interest in becoming a member. Similarly, if you want a seat at your company’s senior management table, you won’t get there by asking for it; so take the steps necessary to earn yourself an invitation.

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Stop the Insanity. Fire Your PR Firm in 2014.

The attribution is unsupported, but Albert Einstein is often credited with the quote: “Insanity is doing the same thing over and over again, and expecting different results.” Its source notwithstanding, the axiom applies perfectly to the great number of companies that retain PR firms, year after year, to generate publicity that will have little or no impact on tangible business outcomes.

Over the past 5 decades, to rationalize hefty monthly fees, the PR profession has successfully promoted three underlying assumptions:

  • Any publicity is good publicity.
  • The more publicity, the better.
  • Publicity generates revenue.

Here are just a few reasons why it’s insane for most businesses to base their marketing strategy on any of those assumptions:

  1. Lots of Media Exposure is Worthless. The “worthless media” category can include one-off quotes or mentions in round-up stories that also reference your competitors…if you’ve gained no unique mindshare.  It can include appearances on network and cable TV…if the topics have a short shelf-life, or are unlikely to be of interest to target audiences.  And it always includes exposure in advertorials (regardless of the sponsoring publication’s stature) and feature articles in pay-to-play vanity publications…because you gain no credible 3rd party validation.
  2. Counting Media Clips is a Zero Sum Game. PR firms often justify their value by the sheer volume of media exposure they generate…regardless of whether it stakes out intellectual territory, supports a client’s value proposition, or differentiates them in the marketplace. The goal should be to create an arsenal of effective credibility tools; not simply to generate clippings to hang like hunting trophies in the “Media” section of a website.  This zero sum game is also played in social media, where scorecards of “likes” and “followers” are used as hollow substitutes for meaningful business metrics.
  3. It’s All About Merchandising. Business leaders must address two key questions in advance of seeking any publicity: “1. What type of media exposure will benefit us most?” and “2. If we gain that exposure, what will we DO with it?” Responses to Question #2 must provide clear direction regarding how it will support the firm’s sales and marketing strategy; how it will be used to drive leads; how it will initiate meaningful conversations with clients and prospects; and how it can be leveraged to gain other opportunities for targeted exposure.

Most PR firms fail to deliver on the potential of their craft because performing it correctly requires really hard work, takes time, and demands accountability for business results. Your role as a responsible client requires that you hold your PR agency’s feet to the fire by expecting results that have a measurable impact on your company’s balance sheet. It also means that you must provide your agency with the time and guidance necessary for them to deliver something more than a pile of useless press clippings.

If you’re unwilling to make that commitment, or if they’re incapable of delivering on your expectations, then it’s time to stop the insanity. Fire your PR firm in 2014.

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An End to B2B Social Media Madness

20070805-humanLemmings

Rapid, lemming-like adoption of social media tools by small and medium-sized B2B firms – fueled by an army of self-proclaimed social media experts – has resulted in wasted dollars, missed opportunities and heightened distrust of the marketing function in the C-suite. As if CMOs needed another cause for termination.

The past decade’s social media debacle is akin to introduction of desktop publishing in the early 1980s, when personal computers arrived in the business world. New software programs enabled companies, for the first time, to design and produce their own graphic materials in-house. Every company needed desktop publishing; corporate bean counters promoted the cost savings; anyone who learned how to use the software claimed to be a graphic designer, and the trend resulted in the most unprofessional and ineffective marketing & sales collateral every produced. Over time, even the bean counters came to understand that misapplied technology can be very costly.

The impact and potential of social media is far more significant than desktop publishing, but this also means that its range of casualties and cost of misapplication are exponentially greater. Simply, there are far too many B2B companies that are either:

–  using inappropriate social media tools,

–  not using appropriate social media tools correctly, or

–  missing opportunities to use appropriate social media tools.

At the risk of generating a firestorm of debate from social marketing gurus armed with clicks, likes, re-tweets and other forms of meaningless ROI validation, and based on the social media casualties we’ve seen or treated first-hand, the following guidelines are suggested for small and medium-sized B2B firms:

  • Focus on Your Website. This is the online mother ship of your brand. Don’t bother with social media tactics unless this tool is all that it can be. If your website has not been refreshed and updated in the last 3 years (which means more than simply sticking press releases in the “News” section), then your company is due for an overhaul.
  • Blog Correctly, or Don’t Have One. A company blog is the most effective way to leverage social media. But if you are unable or unwilling to generate meaningful content on a consistent basis (at least twice a month), or to merchandise your blog content properly (which means taking specific steps to promote the content with target audiences), then do not start a blog. If you already have a blog and you’re not meeting those goals, then shut the blog down. It’s a brand liability.
  • Forget Facebook, Twitter and Google+. These are primarily personal and B2C social media platforms, and there are few good reasons why most B2B firms should be investing any time or resources there. In terms of demographics, it’s telling that Twitter’s top 3 profiles belong to Justin Bieber, Lady GaGa and Katy Perry, but if your B2B firm needs quantitative evidence to support dropping these social media platforms, here is some recent research from Pew Research Center:

PRN_landscape_social_media_users

  • Use YouTube Selectively. YouTube can be a very effective social media channel for B2B firms. But your video products must be sophisticated, professionally produced, and no longer than 3 minutes. Resist the temptation to include sloppy, home-made productions, or hour-long webinar presentations. They reflect poorly on your brand, and few people will watch them. Ensure that you develop ways to drive consistent traffic to your YouTube channel.
  • Build Your LinkedIn Presence. LinkedIn is 3x more effective for demand generation than either Facebook or Twitter. LinkedIn has become an essential part of the business world’s due diligence process, and your company is conspicuous by its absence. Unfortunately, few companies take full advantage of LinkedIn’s social media potential. Their corporate profiles often do not contain adequate information, they do not merchandise blog-related and other relevant content, fail to connect through industry user groups, and their employees’ profiles are inconsistent and sometimes unprofessional. Most B2B companies would be well served to invest 100% of their social marketing effort through LinkedIn.

Very often, the root cause of dysfunction and disappointment related to the application of social media tools by B2B firms has less to do with the shortcomings of the various platforms, and more to do with the lack of a coherent and articulated marketing strategy. Chances are, if a B2B firm is spinning its wheels in the morass of social media, they’re having similar challenges with traditional marketing communication channels as well.

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4 ½ Reasons To Avoid Using Celebrity Endorsements

With those big guns, can we be sure that Tony's not using HGH?

With those big guns, can we be sure that Tony’s not using HGH?

Here are 4 ½ good reasons to avoid celebrity endorsements:

  1. OJ Simpson
  2. Tiger Woods
  3. Lance Armstrong
  4. Oscar Pistorius

4.5  Elmo the Muppet

The marketing world is littered with celebrity endorsements similar to these train wrecks. Yet companies will continue to dole out lucrative contracts to sports heroes, actors, politicians and other personalities du jour…in hopes of leveraging their popularity or notoriety.

Why do marketers continue to roll the dice with their company’s brand reputation?

One reason: celebrity endorsements require no creativity and very little effort. Nike’s ad agency simply shoots some footage of Tiger bouncing a golf ball 25 times off the face of a pitching wedge, and voila…there’s a 30-second commercial.

Companies rationalize this brand risk by assuming that the public will assign them some sympathy for having been duped by the murdering, philandering or drug abusing ways of their fallen celebrity. Marketers also may believe a celebrity’s fall from grace will provide their company with an opportunity to publicly cancel the contract, express sorrow or indignation, and gain additional time for their brand in the public spotlight.

But in terms of long-term brand management, association with a celebrity who’s fallen from grace is a losing proposition. For starters, it demonstrates poor judgment. So ignore the assurances from your ad agency, even if the celebrity they’re proposing is Mother Teresa.

But if you’re determined to use a celebrity, it may be a safer bet to hire an animal than a human. To my knowledge, RinTinTin never bit anyone, but Orca whales have a very poor track record.

Better yet…create your own celebrity. The Geico Gecko, Kellogg’s Tony the Tiger, and StarKist’s Charlie the Tuna all have clean rap sheets. So far.

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PR / Media Pros Should Stand Firm on Requiring Quote Approvals

Quote Approvals Lower the Risk of Media Burn

The practice of requiring journalists to submit on-the-record quotes for approval by a source in advance of publication has long been a sore point between the media and the PR profession. A new spotlight has been cast on the issue, with writer Michael Lewis’ acknowledgment that he’d agreed to quote approval for his Vanity Fair profile on Barack Obama, and the new policy issued by the New York Times, which forbids their reporters from agreeing to “after-the-fact quote approval by sources and their press aides.”

Notwithstanding the New York Times’ effort to protect the integrity of the Fourth Estate, there are at least 3 reasons why it makes good sense for companies and organizations to stand firm on stipulating that reporters obtain quote approval as a pre-condition for granting an interview:

  1. Reporters Are Human. They often don’t bring the depth of knowledge that’s required to cover the assignments they’re handed…so they will make mistakes. They also bring their own points of view…so they will be selective in how they quote sources. And sometimes, they don’t always play by the rules. This blogger was told by a New York Times reporter that if I pressed for a correction to an error he had made regarding one of my clients, that he would never feature any of my clients in his column.
  2. The Spoken Word and Written Word are Very Different. A comment or offhand remark that’s expressed during an interview can cast a false or unfair impression when taken out of context, and when it is read rather than heard. Very few individuals have the ability to envision…as they are speaking…how their spoken words will look in print and to know what message those words will convey. Mark Twain recognized that “talk in print” results in “confusion to the reader, not instruction.”
  3. Journalism Is a Cat and Mouse Game. Reporters are frequently looking for a “gotcha” quote that can juice up their coverage, or support a point they’re seeking to make. Their questions can be contrived, or their approach designed to wear down a source. This blogger learned that lesson the hard way, when a Chicago Tribune reporter twisted a fact-based comment in a very long conversation that enabled him to write a story entitled, “Amex Official Admits CBOE Superiority.”

If you’re willing to participate in media interviews without the safety net of quote approval….here are some guidelines that will lower your risk of being burned:

  • You Can Never Be “Media Trained” – Regardless of whatever training, practice sessions or actual interviews you’ve had, believing that you are “media trained” provides a dangerous and false sense of security. Every reporter is different, every interview is a unique opportunity, and you need to be properly prepared every time.
  • Don’t Lead Lambs to Slaughter – For a host of reasons, and regardless of their org chart position or years of experience, some people are media disasters. If your senior manager or client has a track record of interviews that did not go well, avoid putting them in harm’s way. If a heart-to-heart conversation regarding their poor interviewing skills is not an option, at least ensure that they are equipped for interviews with tightly scripted talking points.
  • Tape Record all Interviews – When there’s a recorded version of an interview, a reporter is likely to be more careful in quoting a source, and you have something more credible than written notes, if there is any controversy. It’s good form to let the reporter know upfront that you will be tape recording an interview. If the reporter objects, and you still agree to conduct the interview, then your organization deserves whatever misquotes or misrepresentation may occur.

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The Harvard Cheating Scandal: Do Administrators Need “Public Relations 101”?

Harvard University announced last week that the school is investigating 125 students for possibly cheating on a take-home final exam for “Government 1310: Introduction to Congress.” After reviewing more than 250 take-home exams turned in last Spring, the Harvard College Administrative Board has opened cases involving nearly half the 279 students enrolled in the class. The school has contacted every student whose work is under review, who now face sanctions that include suspension for up to a year.

In considering whether Harvard may have caused significant long-term damage to its own reputation unnecessarily, let’s ignore some fuzzy facts and conjecture:

  • The course, as measured by the professor’s own words and behavior, did not reflect a level of academic rigor one might associate with a prestigious university.
  • Take home exams, by their very nature, are generally considered a joke by most students.
  • Apparent confusion over at least one of the exam’s questions was exacerbated by the unavailability of the professor during the exam period, causing students to seek clarification from fellow classmates.
  • It’s unlikely that such a large proportion of the class would purposely cheat on what appears to be a gut course.

In examining whether Harvard may have caused significant long-term damage to its own reputation by acting in a hasty and imprudent manner, let’s speculate on a few likely catalysts:

  • After discovering similarities in the exams, and in advance of sending out letters to the 125 students suspected of cheating, Harvard failed to consider the high likelihood that this issue would quickly become a news item. If the school had acknowledged that risk, Harvard would (or should) have announced the scandal in advance of sending out letters to students.
  • Harvard likely became aware of the possibility of negative media coverage either after a call from a reporter, or in reaction to a threat from a student (or their lawyer) to make this a public issue.
  • Regardless of when and how Harvard began to think about negative media exposure, the most significant catalyst that caused administrators to blow the whistle on the affair was a post-Penn State fear that Harvard might be accused of hiding or covering up an incident related to institutional integrity.

If this speculation is correct: that Harvard overlooked the potential media impact of its cheating inquiry, and then blew the whistle on itself mainly as a knee-jerk defensive strategy….here are two fundamental PR lessons from this brand debacle:

  1. Assume the press will always learn about a problem, and plan an offensive strategy (well ahead of time) to minimize the damage. Because Harvard has long enjoyed a pristine reputation, it’s likely that their PR professional was not involved in this issue from the outset, or they had little input.
  2. If the press is on your damaging story, or is likely to be very soon, sometimes it’s better to keep your powder dry if you haven’t planned ahead. Harvard would have been better served if the school had completed its inquiry of the 125 “cheaters” in advance of its public announcement. Even with the media pounding on its doors, Harvard would have provided those 125 students and the school’s reputation with greater justice by responding publicly that “the issue is under investigation and a public statement will be issued only after all the facts and opinions are considered.”

Ham-fisted, panic motivated PR – even when it’s disguised as a self-righteous effort to maintain academic integrity – is not behavior you’d expect from one of the nation’s smartest institutions.

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PR Lesson from the Lolo Jones / New York Times Controversy

Did Jere Kill Lolo’s Mojo?

On August 4th, New York Times sportswriter Jére Longman – who has been covering the Olympics under an “Inside the Rings” column – wrote an article on American hurdler Lolo Jones that was considered by many readers to be overly harsh and entirely unnecessary. In his piece, Longman characterized Jones as a self-promoter who is more flash than substance, and he appeared to go out of his way to discredit Jones’ athletic credentials; ignoring her long list of athletic achievements, as well as the fact that Jones had qualified for the Olympics in spite of spinal cord surgery a year ago.

Four days following Longman’s hatchet job, after a disappointing fourth-place finish in the 100-meter hurdles, in a tearful interview on the TODAY Show, Jones expressed her frustration, telling Savannah Guthrie: “They should be supporting our U.S. Olympic athletes and instead they just ripped me to shreds. I just thought that that was crazy because I worked six days a week, every day, for four years for a 12-second race and the fact that they just tore me apart, which is heartbreaking.”

The public appears to agree with Lolo regarding Longman’s attack. In a highly unusual column entitled, “Lolo Jones Article is Too Harsh,” the New York Times public editor Art Brisbane acknowledged the volume of reader pushback the Longman piece has created, and noted that, “In this particular case, I think the writer was particularly harsh, even unnecessarily so.”

Putting aside Longman’s opinion or Jones’ reaction, and discounting speculation that Jones’ spokesperson made a serious tactical error in declining to participate in the story, there is a simple but valuable PR lesson in the New York Times coverage of Lolo Jones, which is:

MEDIA RELATIONS 101

It is not a journalist’s job to make you look good. In fact, journalists are always more likely to make you look bad…because it suits their temperaments, pleases their editors and attracts more attention.

We’ll never know Longman’s motivation for trashing Jones. He might have eaten a bad hot dog that day. He might have placed a small wager against Lolo, and was hoping to kill her mojo. Or perhaps his rant was based on moral grounds, exposing the hypocrisy of self-proclaimed virgins who appear nude in sports magazines.

Several years ago I brought a Forbes magazine reporter to meet with the CEO of a major grocery chain. The interview went very well. Or so I thought…until the story was published, which turned out to be a devastating attack on my client. After being summarily fired by the CEO for arranging the public debacle, I called the reporter to ask why she had written such a damaging piece. Her response was simple: “I didn’t like the way he treated his secretary, and he needed to be taught a lesson.”

The CEO and I learned very different lessons that day. He is unlikely to have changed the way he treated his secretary. But I changed the way I treated journalists.

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Boy Scouts of America and the Naked Rambler

Stephen Gough a/k/a the “Naked Rambler”

As reported today in The Scotsman, after spending six years behind bars for walking around Great Britain with no clothes on, 53 year-old Stephen Gough – known as the “Naked Rambler” – was released from prison in Perth, Scotland. Mr. Gough, who left the facility naked, vowed to continue his “vocation in life,” which involves not wearing clothing to demonstrate his non-conformity with social norms, and to prove that people are prejudice.  To make his point, Gough has spent most of the past decade in prison, and much of it in solitary confinement.

Yesterday, after a two-year evaluation of its current policy, the Boy Scouts of America reaffirmed its position to exclude openly gay individuals from membership; stating that “it remains in the best interest of Scouting.”

In truth, Scouting’s “extensive research and evaluations” that were used to support its position provide a convenient smokescreen for the real reasons why the Boy Scouts will continue to ban gays from the organization.

In his 2004 book, Scout’s Honor: A Father’s Unlikely Foray Into the Woods, New York Times reporter Peter Applebome explains that religious organizations represent the largest number of chartering organizations of Boy Scout troops across the county, and at least two large religious sects have threatened to pull all of their charters (and ultimately put Scouting out of business) if the Boy Scouts of America do not maintain a hard line on gay membership. Additionally, many large corporations with non-discrimination policies have withdrawn funding as a result of Scouting’s ban on gays.

So…who is more deserving of our respect?

  • The loony, naked Scotsman who’s willing to give up his freedom to maintain his ideals.

or

  • The respected youth organization that’s willing to compromise its stated underlying values to ensure its own existence.

It’s time for Scouting to man-up; to refuse to be blackmailed by its chartering organizations and financial supporters, regardless of the consequences. Time for Scouting to determine its own future. Time for Scouting to walk the talk…with or without its uniform on.

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