Best Business Tips and Strategies information channel:
We would like to thank the local libraries, schools, and universities for recommending students
to visit us when doing research on any of our information topics.
Only one of every 5 businesses makes it to its 5th year, and fewer still make it to 10 years. What do the successful businesses have in common?
1. The experience and skills of the top managers. Over half of business failures are directly related to managerial incompetence.
2. The energy, persistence and resourcefulness (the will to make the business succeed) of the top managers. Many business owners have failed or come close several times before their "instant" success. Don't give up.
3. A product that is at least a cut above the competition and service that doesn't get in the way of people buying. There must be a compelling reason to buy; the product is great, the people love to provide service, and the buying experience is easy and fun.
4. The ability to create a "buzz" around the product with aggressive and strategic marketing. Make scarce marketing resources count. Do as much homework about your customers and their choices as you can before investing your marketing dollars.
5. Deal-making skills to sell the product at the highest possible price given your market. It comes down to your customers' perception of the value of your product and sometimes the power of your personality.
6. The ability to keep developing new products to retain and build a customer base. Consider gradual product development based on improvements to the current product line and sold to the current customer base.
7. Deal-making skills to work with resource suppliers to keep costs low. Keeping costs lower than competitors' and continuing to look for cost reductions even when the business is profitable is key.
8. The maturity to treat employees, suppliers and partners fairly and respectfully. Trust and respect result in productivity increases in ways that may be difficult to see and quantify.
9. Superior location and/or promotion creating a connection between your product and where it can be obtained. Studies have shown it can take seeing your product or name seven times before a customer is ready to buy.
10. A steady source of business during both good economic times and downturns. Over the long term, develop a product mix that will include winners during good economic times and other winners when times are tough.
About The Author
Jan B. King is the former President & CEO of Merritt Publishing, a top 50 woman-owned and run business in Los Angeles and the author of Business Plans to Game Plans: A Practical System for Turning Strategies into Action (John Wiley & Sons, 2004). She has helped hundreds of businesses with her book and her ebooks, The Do-It-Yourself Business Plan Workbook, and The Do-It-Yourself Game Plan Workbook. See www.janbking.com for more information.
You have permission to publish this article electronically or in print, free of charge, as long as the byline is included. A courtesy copy of your publication would be appreciated.
Ten Ways to Strengthen Your Reading Habit
Most people wish they read more. It is an activity that is both fun and enlightening.
10 Steps for Simplifying Business Plan Financial Statements
For most business owners and entrepreneurs, preparing, and communicating the financial statement section of a business plan is like trying to give driving directions to someone who doesn't speak the same language."Numbers" is the language most investors speak.
Top 7 Strategies for Writing Accounting Procedures
Part Two of Cash to Cash Cycle Series. Next: Sales; We've already found $250,000?so let's find another $250,000?Laying the Foundation. Last week, we raised the question: what would your business do with $1,000,000? To lay the foundation we introduced inventory as the first of four areas that will lead toward our million dollar goal. And you saw exactly how to achieve the first $250,000 in cash savings by avoiding delays with an increase in velocity, as well as an increase in discipline and competency.
Top 10 Ways to Start a Business For Less Than $500
We've heard numerous success stories of Internet entrepreneurs like Jeff Bezos, who started Amazon.com from his garage, using cheap plywood to construct desks.
10 High-Impact Viral Marketing Strategies
Viral Marketing is allowing people to giveaway and use your free product or service in order to multiply your marketing quickly over the internet.
Media Training: Seven Ways to Instantly Improve Your Media Interviewing Skills
Imagine if you were going to address a stadium full of people. You'd probably spend hours (if not days or weeks) agonizing over every word you were going to say.
Never Sell Again: Get Repeat Business and Avoid the Need to Prospect
If you're a business owner, you know that repeat business is critical to your success. It also makes your life much easier because you can count on ongoing business without having to continuously find new prospects and convince them to hire you.
Are You a Project Manager Or a Project Mangler?
Which one are you? An effective IT project manager, able to deliver software on time, according to specs, and within budget, or someone referred to by your peers as a project mangler? Find out with these Top 10 Signs You're a Project Mangler.10.
7 Reasons You ARE Your Own Best Product, or Lessons From the 2004 Presidential Election
The 2004 election is over--at least in the minds of the public--and analysis runs rampant as to why Senator John Kerry lost. From a business viewpoint, one could say that he simply didn't sell the product.
10 Nifty Tips for Better Business Cards
Not having a business card is as bad as using an eMail address that ends in AOL.com It's just not professional.
7 Tips To Increase The Success Of Your Online Business
1. Outsource what takes you too long to do? When you don't have time to do something, you either don't do it, or do it faster and make mistakes.
Ten Ways To Sell Your Ideas To Anyone
You have a great idea you know is a winner. All you need is support from some key people.
How to Apply the 12 Steps for Managment Conflict and Resolution
1. Admit there is a problem.
Top 7 Tips For Writing Your Marketing Plan
A lot of people are at a loss when it comes to deciding how to approach the marketing plan process and how to stay within time and budget constraints. To make for a less stressful marketing plan process, keep these 7 tips in mind:Think Strategy First An overall marketing strategy drives many decisions.
The Benefits Of Helping An Online Business Newbie
Do your remember when you first ventured out in the online business world? You probably had questions and problems along the way. Wouldn't it have been easier if you had help? When a newbie asks for your advice, educate them; answer their questions and help them solve their online business problems.
7 Online Banking Success Stories
You have seen their ads and you may have wondered if they are worth a second look. What am I talking about? Online banks! Also known as internet banks, these are financial institutions who provide the majority of their banking services over the internet.
Private Practice Success: 10 Essentials for Starting a Practice
As a counselor, therapist or healing professional (massage therapist, physiotherapist, alternative health practitioner, etc.) it is quite likely that you did not chose your profession because you wanted to be a business person.
The Top 10 Reasons Your Staff Wants to Quit
From an employee's perspective, management often conducts itself in ways that make no sense. When the economy is slow, jobs are few and far in between or people are fearful, staff will tolerate management behaviors and policies that are nonsensical (in their eyes) or they judge are harmful.
The Top Ten Qualities that Allow Business Operations to Grow Easily
My husband and I were enjoying our dinner meal one evening while discussing various plans and ideas. I was sharing that I wanted to submit articles and ads to a huge number of ezines to market my eProgram in a big way, and I wanted his help to make this happen.
11 Things Small Business Owners Can Learn From Michael Dell
1. Think Big - In college, Michael Dell said he wanted to "beat IBM.
Akron City Directory
© 2012 - 2019 All Rights Reserved