Category Archives: Business Growth

Great business ideas for expansion and growth

7 Compelling Ways To Get The Best From Your Employees To Boost Your Business- Part 1

‘Management, above everything else, is about people.

It is about the accomplishment of ends and aims by

the efforts of groups of people working together.

The people and their individual hopes and skills are the

greatest variable and the most important one.

                                                                                                  …….SIR JOHN HARVEY-JONES

 

Getting the best from your employees

There are seven important strategies you should consider and put into practice if you want to get the best out of the people who work for and with you. By using these seven strategies you will have a clear sense of direction towards creating a high-performance team. You will also be better equipped to help your organization transform itself into a stimulating and motivating place to work.

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Let’s look at each of the seven strategies in turn.

 

  1. Be motivated yourself :

You will never be able to inspire others if you do not feel inspired

yourself. Enthusiasm is infectious, and when it’s combined with

commitment and trust it’s a great example as a motivator to others.

 

To be able to be a good example to others you should be:

  • Public: make sure you act in the open so those around you can see where you are coming from and where you are going
  • Spontaneous: do not appear calculated, act naturally, show people your genuine character
  • Expressive: do things because they are natural to you, not for effect as this can be counter-effective
  • Self-effacing: setting a good example is not glory-seeking,you shouldn’t expect attention from it.

In terms of motivating others your own commitment is paramount. Showing and practising commitment to the task, the team and each individual will get you results. As Ghandi once said, “We must be the change we wish to see in the world”.

Motivation is contagious so you should be infectious! If you are not motivated yourself, you cannot motivate others and you should examine the reasons why you lack motivation. Symptoms include:

• Having little or no interest in the job

• Having a sense of not fitting in and being out of place

• Avoiding talking about your job

• Wanting to arrive late and leave early

• Wanting to leave the job and having an active dislike for it.

You should feel that you have found your vocation and the best way to put your talents to good use. You will have a sense of enjoyment and fun in doing your work, not of toil or drudgery.

This doesn’t mean that you won’t encounter problems but you

will have lots of motivation to overcome them.

 

Checklist: Are you doing the right job?

• Do you enjoy the majority of your work?

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• Do you have one outstanding talent that you can name

without thinking too hard?

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• Has that talent been recognised by others around

you, by reward or promotion?

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You can strengthen your motivation by reminding yourself:

A. To feel and act enthusiastically and in a committed way in your work

B. To take responsibility when things go wrong rather than blaming others

 

• Did you discover it in your early years at work?

(Specific talents usually become known quite early on.)

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• Can you identify the key talents of those around you?

_____________________________________________________________________

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• Does you work continually stretch your abilities?

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• Would you consider taking a cut in pay to do a job

which used your specific talents?

_____________________________________________________________________

_____________________________________________________________________

• Would you pay for a training course to help develop

your natural talents?

_____________________________________________________________________

_____________________________________________________________________

 

C. To identify ways you can lead by example

D. Act on the 50:50 principle

E. To motivate by word and example rather than manipulation

F. To set an example naturally rather than in a calculated way and never ask someone to do something you would not do yourself

G. Not to give up easily

H. To ensure you are in the right job for your own abilities, interests and temperament

I. To be able to cite experiences where what you have said or done has had an inspirational effect on individuals, the team or the organization

J. That the three badges of leadership are enthusiasm, commitment and perseverance.

 

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Watch-out for the part 2 of this premium business post, subscribe by entering your name and email for our business tip and guide.

 

Marketing To Women- World’s Largest Segment Your Business Should Consider

Controlling the Company Checkbook

Women are the world’s most powerful consumers. They are the big Spenders, whether you’re talking about households, corporate purchasing, or small businesses.It may not always be noticed, but when it comes to business buying,women play a significant role as well. Whether you target the corporate market or the small business market, there are compelling reasons to get smart about marketing and selling to women.The big-business market: climbing the corporate ladder.cash4wealth Obviously, it is no longer unusual to see women in the corridors and conference rooms of today’s corporate offices. In fact, today, 49 percent of all professional- and managerial-level workers are women. Even more interesting to the businesses that sell materials to major companies is the fact that 51 percent of all purchasing managers and agents are women. Human resources executives, who play a key role in deciding on the financial services providers for their companies, are predominantly women. Office administrative managers, who choose the businesses that will provide their company’s supplies and services, are mostly women. And business communication leaders, who buy the production and media services for their company’s marketing, advertising,and PR, are very often women. If knowing your customer is the key to selling to her effectively, lots of business-to-business companies had better start learning how women buy.

Effectively targeting women generates higher customer satisfaction—among both women and men

The small-business market: the new “entrepreneurs.” Most people are unaware that women-owned businesses, businesses whose ownership is at least 50 percent female, comprise 40 percent of all companies in the US. Would it surprise you to learn that these women owned businesses employ 35 percent more people in the United States alone than the Fortune 500 companies do worldwide? Does that give you some perspective on the buying power they control?

The Power of the Purse

From 1987 to 1999, the number of women-owned businesses grew 103 percent, or one and a half times the national average. What’s more, their employment levels grew 320 percent. Their revenues grew most of all, up 436 percent! And the fastest-growing women-owned businesses were the larger companies, firms with more than 100 employees.

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Companies targeting the small business market and looking to open new accounts need to focus in on the fact that women business owners account for a full 70 percent of all new business start-ups over the past decade! And, lest you leave with the impression that women-owned businesses are  fledgling enterprises uncertain to survive, know that 65 percent of women-owned businesses have made it past their five-year anniversary, compared to 58 percent of their male counterparts. Clearly, marketers who sell to small business owners have every reason to focus on women. Increasingly, the buyer for small office/home office (SOHO) equipment, supplies, communication technology, travel, banking, and business services has a female face. The four factors we’ve just discussed are powerful enough alone to sound the alert for marketers. However, there’s more. Not only do women make up a large market, but they also are more profitable.

Profitability in the Women’s Market

Marketing to women will deliver more profit to your bottom line than putting the same budget against an all-male target.

More Profitable Customers

Two dimensions of the women’s buying process make them more profitable customers than men in the long term: loyalty and referrals. First, because women are more demanding in making the initial purchase in a category, they recoup their time investment by staying more loyal to the brand they’ve chosen in subsequent purchase cycles. Second, because word of mouth is more prevalent among women, they are more likely to recommend to others those brands or salespeople that impress them favorably—in essence, you’re getting free marketing of the most powerful kind. How many marketing opportunities do you know that can deliver higher sales and higher profits at the same time?

Why Market to Women?

Higher Customer Satisfaction—Among Men, Too Effectively targeting women generates higher customer satisfaction—among both women and men. Companies as diverse as BMW, Wyndham Hotels, and Merrill Lynch have found that marketing and service improvements designed to enhance brand appeal among women have resulted

in greater customer satisfaction among men as well. The reason? In many respects, women want all the same things as men—and then some. Accordingly, when you meet the higher expectations of women, you are more than fulfilling the demands of men. You’ve got two satisfied customers for the price of one, so which market would you emphasize?

Better Returns on Your Marketing Dollar

Marketing to women delivers a better return on your marketing dollar through both higher customer acquisition and greater customer retention. While in many categories the traditional male targets are saturated, the corresponding women’s segments are untapped and virtually uncontested by competition. Furthermore, because women are more inclined to long-term brand relationships, enhanced loyalty means every marketing dollar invested in acquiring women customers results in a higher overall retention rate. It just makes sense to put greater focus where you get more bang for your buck.

Marketing to women delivers a better return on your marketing dollar through both higher customer acquisition and greater customer retention.

Gone are the days when father knew best, the days when a loving husband bought a new washing machine for his wife’s birthday, or brought home a new family car as a surprise. Marketers in big-ticket industries recognize the shift, but so far only a few of them are realizing they need to get savvy about how women make decisions, what motivates their purchases, and how they respond to marketing differently than men. Whether you’re an established market leader looking for new markets or an innovative newcomer who thrives on new ideas, the women’s market is the kind of big idea that can make a major difference to the bottom line (not to mention boosting your own visibility as a farsighted marketing leader!). And if anyone says to you, “Where’s the incremen tal market? Women are already buying cars and computers, so how will marketing to women build our business?” here’s your answer: “Sure, they’re buying—but wouldn’t you rather they bought your brand instead of your competitor’s?” The largest, fastest-growing market in the world is waiting.

Throughout the world, women control consumer spending. They’re accumulating income and invest-able assets never before seen in history. And, they’re expanding their decision-making presence in corporations and small business. The business is there; the real question is where are you?

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Strategic Marketing Tips That Will Sure Boost Your Sales

Business Visionaries Plan for Success

Where there is no definite and adequate plan, most individuals and firms will fail at marketing before they even begin. Plans provide goals for your growth. Plans provide your investment a purpose and a return. Without a plan, you will end up wherever you happen to wander.

cash 4 wealth

Who says Visions Are Not Realistic?

A good personal or business plan must begin with a vision of what you want your business to look like in some distant time. A vision is reality in the future—this is different than a dream. Your vision of a future business state usually entails producing topline revenue. So, revenue is a great place to start. What is the total amount of revenue in your future business state? You may want to visualize the revenue in service categories or markets.

Having a firm grip on a solid and important vision will provide the motivation to keep going when circumstances weaken your drive

The vision you have established is your “What.” Once you can visualize your “What,” then develop your “Why.” Why do you want to grow to a certain size? Is it to provide you a better life? Provide better service to more clients? Most importantly take note – Create a firm that can be passed on to another generation of professionals? If you have a strong “Why,” you can accomplish almost any “What.” With a vision of the future, you must set forth action plans that will likely lead to your desired result. Use action plans that include steps such as involvement in a trade group, writing articles in important journals, speaking at industry meetings, and meeting with important targeted clients and prospects.

Your Action Needs a Clear Vision

Many professionals begin their plans with the action steps. This is a huge mistake. When you begin your plan with the action steps, you will not have the motivation to carry out the steps.Having a firm grip on a solid and important vision will provide the motivation to keep going when circumstances weaken your drive. Remember, though, all plans are dynamic, not carved-in-stone documents. Be prepared to reach for unexpected opportunities. All plans begin with intended strategy. But circumstances will prove that certain actions do not work. Other circumstances will give rise to opportunities you did not consider.With a dynamic plan, your realized strategy will be a happy ending.

Motivating Your Employees for Marketing

Do you want better sales results from associates? If you pay staff members a flat salary for hours worked, then you will get just that: hours. An imaginative bonus plan will stimulate employees to help attract and retain clients.

cash 4 wealthFinding and retaining loyal employees is one of the secrets to marketing success. When you create pay plans that are imaginative and fun, and when you can tap into other motivators such as recognition and family support, you will keep your best people and keep them excited about their work. They can also help you recruit more people like them.We have researched this concept thoroughly over the past few years with many firms and other consultants. We have found five characteristics of incentive pay plans that create success.

1.    Reward for Effort

Jay Conrad Levinson says it takes an average of 27 marketing attempts to move a prospect to readiness to engage. Keeping momentum in a long sales cycle is important, but difficult. No wonder most people give up after the second or third attempt. It is the cumulative effect of repeated marketing efforts that yields new clients. Firms that reward effort create an environment that encourages staffers to build relationships that can pay off in the long term. Rewarding effort need not break the bank. Let your associates know that at least half of their bonuses and raises depend on marketing efforts.

2.    Reward the Results Your Associates Can Control

Don’t wait for the client to pay the bill. Pay for creating the lead.Pay them even if the lead does not become a new client. Initiating introductions to qualified prospects is a valuable habit for you to support. Pay bonuses for regular attendance at civic and business club meetings.

3.    Make Rewards Timely

Quickly reward the effort and results you want repeated. Again, don’t wait till the client pays. Quick rewards encourage more action.

An imaginative bonus plan will stimulate employees to help attract and retain clients. Finding and retaining loyal employees is one of the secrets to marketing success

4.    Reward Publicly and Often

If you can pass out bonus checks regularly at staff meetings, you will create excitement. When you reward publicly, you are employing a more powerful motivator than money: recognition. Being recognized by one’s peers for a job well done is more long-lasting than money.

5.    Reward with Products, Vacations, or Entertainment

Products such as televisions or trips are remembered long after cash has been spent. When you reward with tangible items you impact the employee longer and you may positively affect his or her spouse.

cash 4 wealth

In Conclusion

Remember that marketing is an investment activity. What you do with your billable time determines your income this year. What you do with your marketing is an investment in your future income. As part of your marketing plan, clearly set forth the amount of time and money you are willing to invest. Make sure the amounts invested make sense as related to your intended result. Finally, it’s not what you know about marketing or what you plan to do about marketing that counts. It is your commitment to marketing action that will achieve results for you.

This article is made available to you free of charge, sharing its contents to friends and business partners through any of the social media on this webpage will be your way of saying thank you to us. If you desire professional consultancy on how to grow your business and boost your sales, do not hesitate to contact us here.  

6 Steps To Be Your Own Boss-Choose The Right Business

Jeff Bezos did not start Amazon.com because he was in love with books. He started it because he discovered that Internet usage in the early 1990s was growing at a whopping 2,300 percent a year. Armed with that valuable insight, he analyzed the marketplace and the opportunity, and concluded that the best way to tap the commercial power of the Net would be through book sales. Because it was not about the books, but rather the opportunity, Bezos is the prototypical second category entrepreneur.

If you are looking for a business to start, the number one thing to discover is whether that business can sell something people need

There is no shortage of people who start their own business because, simply put, they want to be their own boss; that is as great a reason as any. cash4wealth

The chance to make your own decisions, rise or fall by your own ingenuity and hard work, the opportunity to make more money, and the freedom that comes with being a small businessperson are some of the great joys in life. It is no wonder that many people long to start their own business. When done right, it is special.

In 1986, Roy and Bertrand Sosa emigrated to the United States from Mexico.

When they got here, they quickly discovered that they needed a checking account

and credit card, yet credit cards were difficult for new immigrants to obtain. Their

firsthand market analysis convinced them that there was a huge market waiting

to be tapped, and so the brothers started NetSpend, a small business designed

to offer traditional financial services to recent immigrants and people with poor

credit histories. Using prepaid phone cards as their model, Roy and Bertrand

copied and tweaked that model to create a business plan for prepaid debit cards.

Then they had their big break. The brothers Sosa discovered the Small

Business Administration’s (SBA’s) Small Business Investment Companies

(SBIC) program. SBICs guarantee the investment made by investors (called

venture capitalists, or VCs.) Because the investment is SBA guaranteed, SBIC

VCs are induced to invest in projects they might otherwise say no to, like Net-

Spend. Armed with SBIC VC money, in five years NetSpend went from 0 to

400,000 accounts, and growing. When asked what advice they had for other

would-be entrepreneurs, the brothers offered three rules:

 

1. Figure what pain or need the customer has that you can solve.

2. Create strong, win-win partnerships and relationships.

3. Start with baby steps, but think big.

 

Choosing The Right Business

The question is what would be the best sort of business to start? If you want to create a great business, a successful business, then here is a critical tip: Find a business that fulfills a market need. That sentence should become your mantra. The best businesses find a need, a niche, and fill it. Do that and almost everything else will fall into place. If you are looking for a business to start, the number one thing to discover is whether that business can sell something people need. “Figure what pain or need the customer has that you can solve.” There are several ways to come to the correct decision and find that great business.

 1. Research, Research, Research, and Then Do Some More Research.

Your first step is to analyze both the marketplace and the opportunities available. Look around, find some businesses doing something that looks good to you, and learn about those businesses. How hard are they to create? How much money do they make? How much money would you need to start a similar business? The options are many and there is no shortage of associations and web sites ready to help you find the right business to start. Among the places you should look are:

www.SBA.gov/starting_business/

www.Startupjournal.com/

www.uschamber.com/sb/business/startup.asp

www.FranchiseHandbook.com

The Google search engine is another great place you can do more search.

Look for a business that catches your eye, that seems to have great potential for growth, and that is interesting.

2. Product or Service? When it comes down to it, your business will provide people either with a product or a service. Service businesses tend to be less expensive to start as there is no inventory to buy. Whereas product businesses mark up prices on scores of products and profit on the difference, service businesses, like those of lawyers, doctors, and consultants, sell time and expertise. An initial decision then is which of these best suits your temperament, skills, and goals.

3. Analyze Your Skills and Experience. Suppose you have spent your career doing marketing for major corporations. You then have invaluable skills that should be tapped when deciding what business is right for you. Even if it is not a marketing business, you would be foolhardy not to choose a business that does not somehow tap into your well of knowledge and skill. Now, it may be that you are tired of doing whatever it is you have been doing and that in fact is why you want to start your own business. Understandable, for sure. Just be open to the option of finding a business that gives you a leg up on the competition because of your background.

 4. Consider Your Options. You could create a business from scratch. You could buy an existing business. You could start a franchise. You could create a home-based business. The possibilities are many. The important thing is to (1) realize that there are in fact a variety of options when you are choosing a business, and to (2) learn about the pros and cons of each (read those chapters, research the industry, speak with people in those sorts of businesses).

5. Narrow Your Choices. Once you have analyzed the market, the opportunities available, your skills and experience, and your goals, you should be able to narrow your choice down to a few sorts of business. The next step may be the most important. You must—repeat, must—go out and find some people who own and run these sorts of businesses.

Business selection do’s and don’ts:

• Do be patient. A good selection process takes time and requires knowledge

about the industry, marketplace, and competition.

• Do look for opportunity. As hockey great Wayne Gretzky once said, “Go to

where the puck is going, not where it is.”

• Don’t pick a business that is too challenging. You will be challenged enough.

• Don’t pick a business that cannot compete. Superstores like Costco, Sam’s

Club, Target, and Wal-Mart will beat you on price. Find a business, a niche,

where you will have an advantage over the competition.

  Again, theory and books are great, but nothing beats speaking with someone who lives that business every day.

6. Start Your Engines. Whether you want to start a business because you want to start a business or because you want to spend your time surrounded by your passion, the important thing is to do your homework and find a niche that fills a market need. Do that, and you are well on your way.

 If you need consultancy or help with your business or you desire to start one do not hesitate to Contact us. Why not share this post if it has benefited you.

Does Your Sales Impact on Your Business Positively? What Should You Do?

Planning is one of the first functions in the process of sales management. As a business owner, sales director or manager, sales reps, marketers etc,

Before you undertake any other managerial function, having a good plan is imperative. The reality is often that certain aspects of a plan are carried over from the prior quarter, half, year, and so on.

Typically top management deals with long-range plans, that is, where the organization is heading, what changes may be necessary to generate more profits, what new products will be introduced, and other strategic issues that may occur over the next three to five years or longer

As is true with many of the areas of management, you do not often have the chance to start with a clean slate. However, just as your business likely already possess some star salespeople, your business current plan likely has certain very useful aspects.

2009 University of Wisconsin - Eau Claire College of Business Sales Warm Up

Corporate Strategy with the Sales team

 

Plans exist at all levels within an organization. Typically top management deals with long-range plans, that is, where the organization is heading, what changes may be necessary to generate more profits, what new products will be introduced, and other strategic issues that may occur over the next three to five years or longer. On a departmental level, planning is just as crucial. While your business will incorporate some long-term strategies, the majority of the plan deals with the short and medium term (up to one year and between one and three years).

Medium-Term Planning: This part of the sales plan deals with the means by which longer range objectives are to be met. The focus is on defining roadblocks to success and then planning solutions.

Short-Term Planning: This is probably the most important focus for the sales manager. Short-term plans concern goals that need to be met over a period of ninety days to one year. These are most often very tactical in nature, having specific objectives that exist within the framework of higher-level plans.

Whatever the time period associated with each part of the plan, nothing can operate in a vacuum. Corporate planning needs to take into account departmental plans, and each plan needs to consider the period of time.

 The Sales Plan

The sales planning process deals with numerous constituents. However, the key ones to focus on are:

• Customers (industry and markets)

• Employees (the sales team)

• Your products/services (R&D, finance, engineering, manufacturing, operations, suppliers, etc.)

• Competition Of course, you will need to ask many questions when preparing the sales plan that will fit into one of these four categories.

Depending on your industry, the questions you will need to answer could be as follows:

  1.  What is the length of a typical sales cycle (one week, one month,

one year, etc.)?

2.    How do you segment your customers (industry, regions, etc.)?

3.     Do you have major, key, or strategic accounts, and does a separate

structure exist to manage different types of accounts?

4.    Do you have global customers?

5.     At what level will your salepeople be selling (multilevel, senior level, team selling, etc.)?

6.    Do you have many competitors or are you involved in hyper competition       (a few major players controlling        and competing in the market)?

7.    How do you match up to your competition in terms of products,

reputation, etc.?

8.     How does the sales team tie into the new product/service development process?

9.     How is research conducted on products, markets, competition, etc.?

Depending on your business, you will need to answer these and many other questions, sometimes in great detail. However, before taking a look at some of these questions in more depth, you should understand your corporate structure and how sales fits into this structure, and also how sales touches the customer.

 

 Where sales fits in the corporate structure

It is critical that your department’s planning process ties in with the overall corporate plan. The corporate plan should also be one where you have some influence, meaning not only does the plan filter down to you from the top, but this bigger plan should also be developed taking into account your guidance in the sales plan and sales forecasting for the future. If not, the corporate expectations are out of touch with your part of the business. This could mean that your team is working toward something that does not match the goals and expectations of the overall business. As importantly, this can have a major effect on the resources and budget you are allocated to generate the desired results.

Most important, whatever corporate structure you are in, the goal is to serve the customer

In order to be an integral player in the corporate-wide planning effort, you need to know the key areas that could affect your team both directly and indirectly. One way to look at the overall role that sales plays in your organization is by looking at your corporate structure. There has been a long-standing debate about the best fit and

reporting structure for sales. Some believe that it is a part of the marketing function, while others say it belongs as a stand-alone unit. The answer is that it really does not matter. What is key is that they collaborate well with one another.

Of course, sales not only needs to tie closely in to marketing but also needs to work in tandem with the entire organization. This includes R&D, finance, human resources, manufacturing, customer service, and so on. Most important, whatever corporate structure you are in, the goal is to serve the customer.

If you were inspired by this post please share and don’t forget to leave your comments and observation. Contact us for any assistance or consultancy need. Surely you will be glad you did.

5 Important Tools Your Business Should Go With

In today’s day and age, your business is only as successful as the technology you utilize. Companies of various sizes are doing everything they can to keep their overhead expenses to a minimum, but how are they using technology to better their strategies? Here is a must read Guest Post by Bradley Derringer, a professional blogger.

There are a number of ways business owners can not only make life easier on themselves, but can help make their businesses more profitable. With customers pinching pennies to make ends meet, business owners need to be proactive in how they draw customers to the brand. Here are five tools every business owner should seriously consider adding to their arsenal.

cash 4 wealth

Tax Software

Ok, we all know the headache tax season brings, so why try and tackle everything on your own? Sure, it would be a dream to hire a CPA or bookkeeping team to handle all of your accounting and tax season needs, but not every company can afford the associated costs. Instead, software options such as Sage 50 and Quicken provide business owners with far more than a standard tax return. Aside from providing you with your tax returns, these software options assist you in maximizing your annual deductions, while also allowing users to manage and track their every business expense. Both of these options allow you to view multiple client files simultaneously, so you can work on more than one account at a time. And so long as your software is installed on various computers, you have the ability to work on your documents in the office, at home, or on the road.

You need to think of social media as one of your marketing strategies in order to achieve the success you’re currently only dreaming of. With a social media management program, you can manage multiple accounts from various social media feeds in one easy-to-use platform

Credit Card Reader

Whether you meet customers in person or solely operate as an E-commerce entity, cash has a limited function in business, as most retailers now accept credit cards, both online and through mobile credit card readers. With quality merchant services or a top-notch credit card reader, such as Square or Intuit, you’re able to accept credit cards for any purchase a customer wants to make. However, if you already use Intuit’s accounting software, you’ll be pleased to learn you can conduct your credit card processing with QuickBooks.

Both systems allow you to pay a monthly rate or a per-transaction fee, along with a percentage of the transaction in exchange for providing you with the ability to accept credit card payments. Mobile credit card readers are very simple to use; just plug the device into your smartphone’s audio jack, and you’re ready to swipe. Accepting credit cards online or through your mobile device provides both your customers and your business with a sense of security, ensuring prompt payments in a secure fashion.

Email Marketing Software

One of the greatest ways to generate more interest in your brand is through an outreach program. With email marketing software, business owners are able to utilize a streamlined email formatting platform to reach out to those who subscribe to your company, as well as prospective customers. With a service such as MailChimp or Constant Contact, it’s easy for a business owner to create the perfect emails for specified recipients. Allowing users to separate contacts in to different lists, you can target your specific audience with each email you send. Email marketing can help boost company revenue by targeting those who are already interested in what your company has to offer, as well as reaching out to like-minded individuals who are currently prospective customers.

Social Media Management

If you haven’t heard about the need to keep up with a strong social media campaign, you’re probably falling behind your competition. Many businesses post no less than twice a day on Twitter and Facebook. Social networks are just as important to your company’s success as positive cash flow and quality production processes. Managing your social media accounts can take up a lot of time, especially if you aren’t well-versed in social media.

However, there are services available, such as HootSuite and Gremln, which make it easier than ever to keep up with your posts. You need to think of social media as one of your marketing strategies in order to achieve the success you’re currently only dreaming of. With a social media management program, you can manage multiple accounts from various social media feeds in one easy-to-use platform. Many of the options available also allow you to schedule posts in advance, so if you know you’ll be taking that well-deserved vacation or have a new product you need to promote, schedule your Tweet or post, and then move onto the other matters demanding your attention.

Assistance Without the Salary

Between social media, accounting, and overseeing every project in your company, it can become tiring trying to handle too much at one time. With programs such as Odesk and TextBroker, you no longer need to bury yourself in projects, as each of these serves a very specific function. If you’re looking for great, unique content for your website, but are tired of rewording the same descriptions you’ve been using for years, TextBroker puts you in the driver’s seat for great content without having to write it yourself. Simply post your requirements, and you’re able to choose the quality of writing you pay for. Odesk works in a similar fashion, putting business owners in contact with various freelancers from around the world. However, with Odesk, you can find the right freelancer for whatever task you need assistance with. Odesk allows you to post your jobs for free, and then allows thousands of freelancers to bid on your projects.

Bradley Derringer is a blogger for TechBreach, giving you the latest on all things tech.

Managing People – The Invaluable Asset Your Business Required

To see what you can be, start with who you are.

….ANON

 Globalization, empowerment, cross-functional teams, downsizing, restructuring, learning organizations, knowledge workers. If these buzzwords don’t sound familiar, they should, they are changing your life and the way you manage people for the optimal growth and success of your business, weather a small cottage business to a conglomerate.

Increasingly we live in a world where the rate of change is accelerating;goals are becoming more varied and complex and where knowledge as a key strategic asset is contributing to business success.

 Are you a business owner? A Director, Chairman, CEO, CFO, MD etc. then you are a Manager. Managers are saddled with the responsibility to manage people. I would say managing people constitutes at least 80% of the managerial function. It is the most difficult and yet most rewarding functions. Most managers do not want to own up to the fact that they are inadequate as far as managing people are concerned. Even some organizations do not want to accept that all managers need continuous training and support in relation to their function of managing people.

employee,cash4wealth

 It became popular because, in my opinion, organizations and managers began to realize the importance of the skill of managing people, and that this skill needs to be sharpened on a continuous basis.

Increasingly we live in a world where the rate of change is accelerating;goals are becoming more varied and complex and where knowledge as a key strategic asset is contributing to business success.

 People are our greatest asset

 Is this hype or reality? For those organizations who genuinely believe in their people, managing people becomes the foremost managerial skill.

Managing people is not a matter of manipulation. It is about working with your staff and colleagues on a partnership basis to achieve the strategic goals of the organization.

 The success of an organization depends on managing 3 sets of Expectations. They are:

• Organizational expectations;

• Employee expectations; and

• Customer expectations.

 What does managing employee expectations involve? It involves

Understanding and the subsequent application of the following:

• Understanding of human needs and behavior.

• What makes people tick?

• How to form collaborative relationships.

• How to recruit and select staff.

• Understanding the nature of psychological contract.

• How to retain staff.

• How to formulate performance goals involving your staff.

• How to monitor and measure staff performance.

• How to lead and motivate staff.

• How to communicate effectively with your staff.

• How to develop talent in your organization.

• How to make your staff work effectively in teams.

• How to empathize with your staff.

• How to act as a mentor or a coach.

• The nature of change.

• The significance of work-family balance.

• How to gain commitment from your staff.

• How to create a thriving work environment.

• Above all, understanding self.

This is a very daunting task but it is imperative to acquire competences in all these aspects to manage effectively. In practice various dimensions of managing people and the importance of people in bringing about organizational success, come together in different forms.

 

Listen for possibilities

 “If you should try to understand me

Through the eyes of your experiences,

Your only understanding will be

Misunderstanding.

For we have walked different paths

And have known different fears.

And that which brings you laughter just

Might bring me tears.

So if you can learn to accept me

And the strange things I say and do,

Maybe through your acceptance

You will gain understanding.”

 …..Anon.

Continuous Improvement

It is also important to constantly review motivational and leadership factors involved in enhancing organizational effectiveness, irrespective of how successful you are at present. If a successful organization like Dell finds it necessary to do so, so should other organizations.

Managing people is not a matter of manipulation. It is about working with your staff and colleagues on a partnership basis to achieve the strategic goals of the organization.

 So what has Dell done? The following is an article which appeared in Management Centre Europe E-Newsletter written by the author.

people asset,cash4wealth

Managing by principles – Dell’s way

By Sultan Kermally, freelance writer and management author.

In Business Week 0f November 3, 2003, there is a cover story

on Dell entitled ‘What You Don’t Know About Dell’. In this article

the writers highlight the following six management principles

Dell have adopted and presented them as ‘Management secrets

of the best-run company in technology’. These principles are:

• Be direct.

• Leave the ego at the door.

• No excuses.

• No easy targets.

• No victory laps.

• Worry about saving money, not saving face.

And finally this is what Frederick Taylor, the father of scientific management has to say:

“The search for better, for more competent men,

from the presidents of our great companies down

to our household servants, was never more

vigorous than it is now. And more than ever

before is the demand for competent men in excess

of the supply.

What we are all looking for, however, is the readymade,

competent man; the man whom someone

else has trained. It is only when we fully realise

that our duty, as well as our opportunity, lies in

systematically cooperating to train and to make

this competent man, instead of in hunting for a

man whom someone else has trained, that we shall

be on the road to national efficiency.”

 ……FREDERIC TAYLOR: Principles of scientific management, 1911

If you desire consultancy on managing and growing your business contact us here

7 Creative and Successful Steps to Product Sampling Tips

Here is a Guest post by Mark Thomas on succesful and creative sampling tips for your business products and services, this is a must read for every entrepreneur . Mark Thomas is a Marketing professional who’s been working as a consultant for production companies.

How To Impress

Marketing and advertising a product might seem easy but in order to be successful there are some points to take into consideration. The first and most important steps is having a marketing/advertising plan. Next is having a budget. Then doing some market research into where you want to meet your audience, where they will be the most captivated and where you will get good advertising and customers. Presentation of the product is vital as you get just one chance to impress. Sounds like a tall order? It’s actually not that complicated. Let’s get into the details of each step, shall we?

sampling product,cash4wealth

 First Step

The first step is to budget how much money you have to spend and set up a plan on how the campaign will run.  It might seem easier to skip this step… I know I would have the tendency to want to do so… but it is much wiser to plan and budget your actions than to later find out mistakes were made that could have been avoided. Check out online sites for pricing on displays.

Planning and Budgeting

Set your budget for the marketing/advertising sampling campaign.  Sit down preferably with others from the company and decide how you want to run the campaign.  Finding the right place at the right time is crucial to captivate your audience and potential customers so a little leg work and research here would go a long way to being successful.  Is the train station a good place to go during rush hour? Would it be feasible to put an exhibition display stand in that area where throngs of people converge at certain hours of the day? Or how about the local shopping centre during the Saturday morning/afternoon rush? Would a trade show pop up display look good and inviting to the shopping public? All these questions need to be answered and it will all depend on what the product is and how you are setting up sampling.  Some companies try to go to sports fields/parks on a special day to hand out samples with permission from the sports grounds, of course.  Then there are conferences and exhibitions that are sometimes are set up so that products from the same or similar categories are together to compare and contrast.  It also saves on advertising.

Sampling Presentation

Presentation of the product sample is just so important as you get only one chance with the potential customer.  Depending on what the product is will also decide how you will set up the sample. If you are trying to promote a new milkshake product, then small cups of the actual product is the only way to go.  Or you could consider setting up a few exhibition stands to your prefered venue. Taking all the equipment to the event area to create it is another logistic to consider. Some companies like to join together with other companies that complement their product and offer a package deal sample.  So if it is a health product then it could be in a “health package” sample that is given out to people.

Most importantly set up something where there is a follow up for those customers who expressed a real interest e.g. discount coupon, email coupons and social a media page.

This may help in keeping down costs by joining forces with others. You might want to use popup displays or a sampling booth for the sampling campaign.  Write this into your plan and check out pricing to find out if it will fit into your budget.

Taking the Orders

So you have planned, budgeted, researched, and presented the sample. But have you thought about how the customer can get in touch with you? Make sure that there are ways for the customer to place an order to contact your company that is viable and accessible for everyone.  This means that not only on paper but also a digital contact.  Most people nowadays have mobile technology.  QR codes are on the rise in use.  Have something ready in a leaflet format that has the information on the product and company and then the QR code for the consumer to scan to go to the website or see a video or get more information electronically on the product. Most importantly set up something where there is a follow up for those customers who expressed a real interest e.g. discount coupon, email coupons and social a media page. If you are at the point where you can take orders then have something ready to take orders at that moment of sampling.

The Steps Are The Same

So whether you want to market a new toy or a new brand of milkshake, or even coming up with a package deal that promotes both the toy and the milkshake, the steps are the same as follows:

  • Budget
  • Plan
  • Decide on a place
  • Decide on a time
  • Presentation of sample
  • Contact information
  • Follow up

These steps are quite easy to follow and if you do them constantly, you will end up with samplings that are creative and successful. If you are new to this kind of promotion strategy, you can always visit online sites to give you some help.

Author Bio: Mark Thomas is a Marketing professional.His projects include promotions of new fashion lines and accessories showcasing them in exhibition stands for events in Australia and trade show pop up displays. Although he works alone, he is quite popular with the masses he works with. Mark is a football fanatic. He considers himself a keen observant of people.

 

Any Press is Good Press – The Worst Marketing Tactics that Paid Off

Any Press is Good Press 

The saying that “any press is good press” has been proven to be a myth over and over again, especially when it comes to marketing. Many bad marketing tactics end up ruining a company or brand’s reputation. However, some companies have been able to make these bad marketing tactics work for them.

Does this prove that negative press can in fact be good? You may be able to turn a bad situation into a good one. This is true. However, if nothing was done, a bad image could destroy a brand.

The story of Casa Sanchez who made a marketing blunder by offering free meals for life to people who had the company’s logo tattooed on their body is a classic case. The company was headed for financial trouble when the word got around and people started to get tattoos of the company’s logo.

The situation was turned around by limiting the number of people who would actually be given lifetime free meals, but this certainly turned out to be a bad marketing tactic. In a sense, the tactic paid off because it increased the brand’s awareness.

When would a bad marketing tactic pay-off? Brands that are well known will somehow be able to get away with just a slap on the wrist, but struggling brands could be doomed by a single bad marketing strategy.

When Calvin Klein decided to use young models in sexual poses, the ad became popular with the younger generation. The advertising campaign did not fare too well with the older generation, but still it gained popularity. Calvin Klein would have gotten away with it, but they decided to take it one step further and this turned out to be a big mistake.

Good or Bad Marketing Strategy what way out?

Well known brands do not have to worry too much about making a marketing blunder as they still have a good chance of recovering.

Unfortunately, if you’re a small company or a brand who is trying to get into the public eye, a marketing mistake will could cost you dearly. Although being a big company or a well known brand does not in any way keep  you from losing large amounts of revenue on a bad strategy.

When Coca Cola decided to go with a new flavour and label it the New Coke, the public did not like the idea that their favorite brand was abandoning their core asset. Fortunately, Coca Cola admitted that this was a big mistake and went back to the original flavor, but not after they had been dubbed as losing the war with their rival Pepsi.

Marketing mistakes can sometimes pay off but not all the time. It is a huge risk to use controversial marketing tactics that can easily backfire. It is always better to use safe marketing techniques when you are still struggling with the brand. Making a marketing mistake during these times could cost you dearly. You may be able to gain a bit of popularity, but then would it increase your revenues?

your are welcome to share your comments,can the worst marketing tactics ever pay off?