Funding a new business, embarking on a period of expansion or simply looking after the day-to-day finances are all parts of dealing with money matters when you work for yourself. Although some people might be able to have an in-house team, with such matters being dealt with by someone in a dedicated position, for most small business or sole traders looking after the finances means a DIY approach is needed.Continue reading →
Addiction can have a significant impact on a business and it is likely that a small percentage of your employees are suffering from some type of habit. This could be related to alcohol, drugs and gambling or gaming problems and have both physical and mental effects that impact on their role in the company.Continue reading →
When it comes to branding your new business quickly, efficiently, and reliably, there are a number of techniques you can employ in order to accomplish this goal. However, before you engage in the exercise of branding yourself, it’s very important for you to consider just what sort of image you want to create for yourself in the eyes of the international public. After all, successful business people like Francis Josiah and others have a brand name just as surely as they have a pedigree to back it up. Continue reading →
There is no doubt about the importance of Content Marketing in companies, each day there are more businesses that incorporate best ways to make people come to your offer motivated by information that meets your questions and that you or your brand happy to share.
If you have heard before this subject will understand that occupy a scenario like social networks to communicate your message or properly update your website with information that will motivate visitors to finish buying requires a detailed and careful process that is aligned with what you want to achieve in your organization.Continue reading →
After analyzing various money management strategies that help us secure our gains on positive operations, it is up to turn two a little more aggressive money management techniques that aim to multiply gain or losses overcome an operation negative.
In the first case, it is the technique known as pyramiding operations profitably, while in the second we are talking about the strategy recommended some losing positions averaging technique that carries a risk you always have to keep in mind.Continue reading →
Experience has shown me that many companies give discounts because they cannot justify a higher price. Therefore, in the absence of arguments, it is a good discount. The lack of differentiation is the source of many problems, including the pressure to lower prices.
Few strategies have both commercial impact and differentiation. A differentiated product or service is unique from the rest, providing alternative standards for the market. A differentiated brand is less vulnerable to attacks by price competition and will be a compelling reason for customers’ preference.
The solution to give less discounts: differentiate…
A few years ago I wrote an article referring to the most important question that every company should be: Why buy from you rather than your competition? When the answer is not clear, it is when the client begins to press for the price. If the customer does not perceive a difference, it will try to justify why they should pay more for what you offer. And if their arguments are not convincing, he will push for a discount. It is a simple survival mechanism that the client has to maintain, as you would any of us, the balance between what you perceive you are getting and what you are actually paying. Remember that the price is a relative perception of value.Continue reading →
Along with owning and operating their own businesses, many company owners also seek to increase their wealth. They want to acquire as many assets as possible throughout their careers. When you are unsure of how to accomplish this financial goal, you may look to professionals who are trained to guide business owners in managing their wealth. You can get started by signing up for lessons like Sage 100 ERP training and other instruction that can be found online.Continue reading →
One of the most important concerns of any business is how to get your customers to trust him not only once but to repeat. Then we talk about loyalty. Loyalty is a term used in marketing that determines how loyal a customer is a company once known.
Indeed, this is one of the most important issues discussed in the course eCommerce for entrepreneurs. The task of loyalty is simply to get the purchase made by the customer is the beginning of the next and this must be applied the same media that incite to repeat it. Loyalty can be a measure of bond with the customer. According to some marketing surveys, only 40% of customers with a higher rate of satisfaction 80% repeat purchase, so, to the extent we get high satisfaction and perceived service quality, we will increase the possibility of the customer repeat purchase.Continue reading →
Today I’m going to play a very thorny, ambiguous topic that generates heated debates … but I think worth comment and discuss its impact on the future of startup: the popular wisdom says you have to try to find income as soon as possible, something I do not think it’s as absolute as it depends on each startup, its business model … etc.
In case there is any doubt, I’ll start with a very clear statement about what I think:
Focus on profitability not always the right answer.
A startup is an experiment designed to discover a model of profitable and repeatable business scalable.
And the key here is the bold words: there is a business and should be managed as such, but an experiment where they do not know which is the best business model to exploit a customer need, which implies it first (even before to ask if profitability or growth) ALWAYS should be to create a product that really get add value (and thus keep users) … but once that is done, we worry about the scalability of the business model.Continue reading →
Differentiation being one of the main topics that we discussed in this blog, and seeing the great reception it has among entrepreneurs (among other things because there is a great need to get out from the competition), it is not strange to think that in all background is rooted in the lack of creativity and innovation.
And is that if above the offer could hardly cope with demand and allow for each competitor had a major share of the pie, nowadays most industries are characterized by a great deal in the eyes of the market does not present many differences.
Without knowing exactly what has obeyed this phenomenon that is part of the natural evolution of many businesses and industries, I would say that the mentality of the past to make no change while there was the need to do and be extremely conservative in times where there was enough bonanza for all, they led many businesses to grow not only a great fear and resistance to change, but pass all this led to a lot of businesses still encounter huge difficulties successfully differentiate themselves. And not because they cannot do, but also because new generations have inherited part of that culture and fear of change that is stuck in the DNA of many traditional businesses since time immemorial.Continue reading →