Business War and Competition

Archive for the ‘Business Tips’ Category

4. Choose a slogan that sells.

The slogan is kind of a complementary tool in your marketing strategy by helping to create an image. The slogan sums up in one sentence what you give to your customers. There is a difference between companies with a slogan and not because a good slogan defnitivamente sold.

5. Create a culture of customer service.

All the above points are related to aspects of subjective image. However, there is a fundamental element that defines a 80% what your company is: people. Your partners or employees. They are the ones who have direct contact with the client and are the people who carry on their shoulders the importance of conveying an accurate picture.

In fact you have a great physical presence, with a good name, great logo and colors selected, but the first contact of an employee with the client, can bring down all but one has a genuine culture of service. Read the rest of this entry »

In a highly competitive world where your customers will likely alternative to other 10 companies that make or offer the same as yours, the image is undoubtedly one of the differentiating factors that will make your business the option to choose.

This article will discuss how to improve the image of your company from today and increase corporate value that your customers expect.

The image of your company or corporate image as usual call is a very important element because it can powerfully convey a message that is positioned in the minds of customers.

And if you can position yourself in the mind of your customer, then you will have achieved an advantage over your competition and your profits will increase. Hence, large corporations spend millions of dollars to create, maintain and renew the image of their companies because they know and understand the power in this factor.

1. The name of your company.

The business name that you give your business is probably very important because it will be used for all purposes of the company. Read the rest of this entry »

A company and its employees do not live on work hours consumed, but the work done. Assuming this is a first step to focus on the present moment and shoot effectively. Would not it be more effective to analyze and speculate less and start paddling with energy?

If workers and managers have the discipline of Zen monks, when you meditate, just meditate, when they eat, just eat, when they work, only work, eight hours would be more than sufficient to deal effectively with the tasks.

In practice, it has been shown that overtime is not often compensate for deficiencies in the functioning of a company. If a worker is usually a ten-hour day, instinctively slow down the pace of work because he knows that “have time” to do so.

The greater the chaos, the closer the solution

Zen is sometimes advisable to enlarge a problem that has not been able to solve so far. As the Chinese proverb: The bigger the mess, the closer the solution. Read the rest of this entry »

* A sound business concept. The most common mistake that entrepreneurs make is not picking the right business to start. The best way to learn about your prospective business is to work for someone else in that business before beginning your own. Can be a huge difference between his concept of a fine business and reality.

* Understand your market. A good way to verify that the business market is known as a test market your product or service before starting. Think you have a large kite that will capture the imagination of kite fliers in the world? Then, make some of them first hand and try to sell them.

* Industry strong, growing and stable. Remember that some of the greatest inventions of all time, like airplanes and cars, did not result in economic benefit to many who tried to exploit these great advances. For example, the cumulative earnings of all airlines since Wilber Wright flew that first plane are less than zero (the Airline losses have been greater than their profits.) Success comes to those who find businesses with great economics and not necessarily great inventions or advances to mankind.

* Administration capable. Find people who you like and admire, have good ethical values, skills and are smarter than you. Plan to hire people who have the skills that you lack. Define your unique ability and seek out others who turn your weaknesses into strengths.

* Adequate financial control. Learn later the importance of training in accounting, computer software and cash flow management. Most employers do not have accounting backgrounds and must go back to school to acquire such knowledge. You bet your savings in a game where you do not know how to keep score? People mistakenly do it in business.

* A consistent business focus. If you think of specific products or services, find that specialists outperform non-specialists. Focus on something you can do so well will not be subject to competing with someone with a lower price.

The possibility of identifying a declining margin allows you to adjust their prices or business costs. In the worst case scenario, it is clear that the gross profit and gross margin disappear altogether.

In this case, you’re like the people who lost money on sales, but imagined that he could compensate with volume. Do not follow this path.

1. Know how to walk the relationship between debts and assets. This relationship may allow you to know the number of items you have in the company and that belong to someone else, your bank, for example.

An increase in this ratio may be a bad sign: it may be due to a major expansion or indicate that you are taking bigger steps without being able to do that.

2. Do you know what is the average time to collect your receivables? Probably this is one of the most important information for companies that must care costs as it indicates the time during which you will act as “banker” to whom you owe.

To calculate this, you need to know the average daily sales and divide by the number of accounts receivable.

3. Do you know what is the value of accounts payable? An increase in accounts payable may mean that you bought or negotiated over longer periods.

But an increase in unplanned or poorly managed can be an internal warning that the company’s financial structure is weakening.

4. Do you know what is happening with inventory? The ability to control inventory and to know how long this delay to be sold or processed to identify if the business is growing or shrinking.

This ability also indicates the value that could be used in other payments and investments and is subject to non-performing assets.

Undoubtedly the economic crisis has wreaked havoc on millions of families around the world, this will bring unprecedented changes in how the American middle class, the most voracious of the world consumes. Of course, this kind of attitude will change the way companies will have to win customers and the type of business products and services that will have to develop and offer non-stop service this segment.

For example I can cite you the case from Direct TV.

This company developed a pre-payment system for satellite television service that is accessible to many sectors of the population of Latin America do not currently have bank accounts or have the resources to join the system on a monthly basis.

This type of solution is unthinkable in a society like the U.S. or Europe. To John Gerzema, president of the firm Young & Rubicon, which manages the largest database in the world about the attitudes of consumers, the end of consumerism as we know it is close.

These are some of the concepts delivered in an interview that he made the INC magazine. Let

Job losses, reduced working hours and problems of family budgets are under way to consider the definition of the good life.

People are finding happiness in things like “do it yourself”, self-improvement, faith and activities in their community.

This does not mean that consumers are dead, you are simply imposing conscious consumption. As a result people are buying the brands of companies whose securities are similar to those of the consumer.

Similarly rejecting the brands whose values do not match with theirs. For this executive, the concept of quality is changing: now it is associated with ethics, the things made by hand and not in series, the feel good about the things they buy.

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Business Planning is the process through which analyzes the current situation (where we are), goals set (where we want to), and defines the strategies and courses of action (how we spot) to reach these goals.

Whatever the size of a business, planning is critical to its success, as it serves as a basis for other administrative functions (organization, coordination and control), and can reduce uncertainty and minimize risks.

Business Planning process

The steps required to make a planning or planning, are:

1. Current Situation Analysis
First we do an external analysis, which allows us to know the status of the environment and identify opportunities and threats, and an internal analysis that allows us to know the status or capacity of the company and identify strengths and weaknesses.

The external review will assess the economic, social, governmental, technological, as well as competition, customers and suppliers. Evaluate aspects that already exist and that there may be aspects (trends).

And in the internal analysis will assess the resources available to the company, financial, human, material, technological, etc.

2. Set goals
Once the analysis of the situation, we establish the objectives of the company, according to the resources or the capacity that it owns, according to the external environment we have discussed.

Read the rest of this entry »