Tag: business
Choosing a Company Name
When forming a limited company the name of the company can be an important decision. Some people may choose the first name that they think of and others may select a ready made company for speed or because they like a particular name. However, many businesses may prefer to select a company name that either clearly distinguishes itself from its competitors or contains something unique or personal. Company names can be chosen for different reasons.
One of the most common ways of selecting a company name is to use something personal. A quick look through your local newspaper will probably introduce you to many personalised business names. Johnson Consulting Limited, T Smith & Son Limited, Stephens & Barley Limited are some fictional examples of what may be found. This may instantly make a company recognisable locally, it can be deemed as more personal by its customers, and often works well within geographical areas. However, it does little to tell new customers what your company does.
A popular choice for a small business is to choose a name that is ëdescriptiveí. This tells prospective clients exactly what your company does. Examples of this may be to call your business The Window Company Limited, City IT Consultants Limited or The Advertising Agency Limited. Whilst this does serve to reinforce your primary business it offers little differentiation and may easily be adapted by competitors.
A less personal option is to use a company name that is ëassociativeí. This type of company name helps to create an image or connection to your business activity. It is less direct than using a descriptive name but helps to position your companyís name within the market through peoples understanding of what words mean. For example a flick through the Yellow Pages will offer plenty of examples of this. A hairdresser called Classic Cuts or a printer called Selectaprint Limited are examples of what may be found. These names offer some differentiation but may not ultimately set your company aside from its competitors.
An alternative is to choose a company name that is ëfreestandingí. These names are completely abstract and not related to the companies business activities. A fictional example may be to call your catering company Zedoc Limited. There are many popular brand names that illustrate this point. Consider, Kodak, Gillette, or Mars, these names will probably be instantly recognisable to you and conjure up a particular product or business. This is a good way of setting your company aside from the competition but it is important to consider the market that you operate in. Will your prospective clients know what your business is offering?
Choosing a company name may be a simple process, but it is not uncommon for people to deliberate over names for quite some time. Whilst company names can, and often are, changed during the life of the company most people like to choose a name that they like from the outset. Therefore consider your market, how much you want to differentiate from your competitors and what your company name should say about your organisation. Once the decision is made focus on the important business of making your company a success.
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Originally posted 2018-04-17 01:35:00.
Business Cost Savings Through Safety
Business Cost Savings Through Safety
Setting a health and safety program in place will reduce costs. Having a program will reduce accidents and will lead to lower company worker’s comp premiums; further business insurance companies prefer their customers to have health and safety programs. These insurance companies might even discount the premium if a program can be proved to exist. The average cost of an accident is $68,000. Direct costs in accidents such as worker’s comp and fines levied can close a business. Indirect costs such as low morale of employees, legal fees, and retraining can be as costly if not more.
A working program will:
1) Improve employee morale – Shows care in their well being
2) Reduce revenue loses – Fewer accidents keeps all employees at work
3) Give a boost to the customer – Makes sure business is operating optimally
Small businesses that have a voluntary health and safety program in place have fifty percent less accidents and reported insurance claims than that of their counterparts according to OHSA stats. Most small businesses fall below the legal requirements for having a formal health and safety program in place due to number of employees on staff. Sixty eight percent of reported accidents are in the service industry which shows even businesses such as retail establishments are not free of accidents.
A health and safety program can be started by writing a health and safety policy; this is simply values that a company wishes to convey in its work processes. Secondly, is how communication between all employees and owners will function. And lastly, put procedures in place to ensure safe practices.
To find unseen hazards and unsafe practices, an audit needs to take place. Take a hard look at the workplace and record all factors that may lead to injury. These hazards might be dangerous chemicals or as simple as a letter opener. Identifying these hazards will lead to procedures to controlling them. Controls such as ‘Don’t run with scissors in your handsî are effective. Write all procedures in a manual.
Implementing these health and safety procedures will be done with behavioral change. Some programs become weak and non effective because of:
1) No definition of safety practices – No written processes
2) No teamwork – Safety is communication from the top to bottom and vice versa. A well written plan will describe what roles everyone plays in safety policies.
3) No effective goals – The ‘accident free daysî poster will come as a result of sound safety processes.
4) Wrong incentives – Money as a reward does not work well. Health and safety should be fun and worth employees effort. The right incentive plan can be cost effective and have obtainable goals. Incentive plans can include movie passes or simply ‘free coffee on the boss.î The insurance industry reports for a dollar spent on health and safety yields four to six dollars in savings.
Once all of the hard work of developing and implementing the health and safety program is done, set aside some time each month to review the workplace. Record what is found; this is a good practice to see dangerous trends that might occur such as a fire exit constantly being blocked. On the quarters of the year post a meeting with employees. These meetings are a great way to get vital feed-back from employees and keep them involved. At least once a year, do an audit to make sure your health and safety program is current with present business operations.
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Originally posted 2018-04-15 14:21:00.
Does Your Small Business Need A Web Site?
You are a small business owner. You use the internet both in your business and personally. Obviously you know there are many, many web sites out there. More then likely, you’ve even made purchases through someone else’s web site. Perhaps it is apparent that you could be doing the same thing with your own business. Certainly, extra e-commerce sales could only help your bottom line. But does your business really need a web site?
In deciding that, consider what a web site really is to a business. A well designed site can give your business exposure to a much larger group of potential customers. That makes it a powerful tool in your marketing arsenal.
In today’s hyper-competitive business environment, marketing experts tell us that having a successful marketing strategy is essential to the growth of your business. Effective use of a web site can draw in new leads and turn leads into conversions. Now these new customers (your best market) can be further wooed through follow up online newsletters, automatic appreciation e-mails (auto-responders), special offers or any number of tactics. All the while building a mailing list which is like gold to anyone’s marketing efforts. With this almost limitless and relatively inexpensive marketing tool in the form of your web site, your profits have an even greater ability to soar.
A web site does need to be well designed. Also, in addition to targeted, effective content, your site needs to be regularly maintained and updated. Using its full potential requires someone in your company continually coming up with new online marketing strategies. But these efforts, if thought of as marketing investments, can mean big rewards in the form of increased profits for your business.
In this information age, the internet is key to making innovative marketing decisions that build a successful business. Your competition knows this and he/she probably has a web site. If they are savvy enough to realize its marketing potential, then they have a competitive edge. But you can make up ground and pass them up with a well designed web site of your own.
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Originally posted 2018-04-12 00:48:00.
Add Value to All You Do
While reading some very informative material recently, I found myself inspired by a concept that enables a person to soar to higher heights. The concept of adding value to everything you do, when applied to specific areas of a person’s life, can bring that person to be highly sought after by those receiving the added value. The material I was reading focused on business and what this concept will do for the success of a business. Another way of looking at this concept is in the idea of doing more than is expected, or doing more than that which you are compensated to do. When doing this a person will be “weighed” against others who do not. In comparison, the person who adds value to all he/she does will be sought after to the degree that there will be keen competition for his/her service. As a person becomes more and more recognized for doing more than he/she is compensated to do, he/she will begin receiving more and more compensation for their services.
There is an additional benefit that comes to the person who exercises this concept in his/her business; the development of that person’s strength. In nature, do you suppose the strongest trees are those that are protected from the storms and hidden from the sun? This isn’t the case. The one that stands out in the open and bears all of the winds and rain and is shone upon by the blistering sun is the tree that develops the strength to withstand the most violent weather. This also is the case for the person who goes beyond expectation to deliver added value in everything he/she does. This is the person that becomes strong enough to succeed despite the adversities that one is sure to come up against in his/her business. The fact that most people are delivering as little as they can get by with, serves as a great advantage to you when you deliver added value. One who delivers as little as he/she can, may rest assured he/she will receive the same.
I hope this information will add value to all of your experiences.
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Originally posted 2018-04-07 01:35:00.
66 Ways To Promote Your product or Services
Some guru sells his program because he has 60 ways of marketing. One Dentist was asked about his marketing he said he had 100 ways and use them all. Well I came up with 66 so far. I will work on more sometime after tax season or you can email me with ones I might have missed.
The true is you canít use them all. Some are too costly for many of us. Some wonít work. Try as many as you like and find the ones that work and work them till they stop working or you stop working, whichever comes first.
Here they are:
1. Direct to Consumers
2. Party plan
3. Rack Jobbers
4. Wholesalers
5. Mail Order House
6. Resident Buyers
7. Fairs and Exposition
8. Chain Stores
9. Discount Stores
10. Lease Departments
11. Supermarkets
12. Free Publicity
13. Sales People
14. Franchising
15. Co Party
16. U.S. Government
17. Direct Mail
18. Co-op Mailing
19. Trade shows
20. Advertising Specialties
21. PXís
22. Premiums
23. Classifieds:
24. In Papers
25. In Magazine
26. On the net
27. In Special papers
28. Articles
29. Ezine
30. Emails
31. Sig files
32. Radio
33. Television
34. Seminars (paid to You)
35. Bill Boards
36. Flyers
37. Brochures
38. Seminars you give free
39. Telephone
40. Referrals
41. E.books
42. Free Search Engines
43. Paid Search Engines
44. Post cards
45. Yellow Page ad
46. Cross Selling with others
47. Joint Ventures
48. Telemarketing
49. Take out Boxes with ads on
50. Posters
51. Booth at Mails or stand at mall
52. Man or Women with sign about your business
53. Window Display
54. Outside Signs
55. Articles for directories on the net
56. Free downloads with ads about your business products or services
57. Free Recording
58. Free Video
59. Free CD
60. Free Report
61. Free Samples
62. Special Events
63. Contests and Sweepstakes
64. Column in a Newspaper
65. Editorial writing by you
66. Free Phone Messages
Let me know at Joetrevis@aol.com if you would like me to explain any of these in a report that your interest in. It will be at least 2 pages with a lot of information.
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Originally posted 2018-04-04 12:25:00.
The Elevator Pitch: First Contact
Entrepreneurs with businesses in early start-up differ on what they believe to be the most important element, although many professionals will argue that creating a solid business plan should definitely be the first step. A well-crafted business plan lays out all the details and strategies, includes projections for revenue and spending, and will be reviewed in detail by bankers and venture capitalists. But in fact, the most important document that should be created even before the business plan is the ìelevator pitch.î
The fact is, most people will not read a business plan unless they have been motivated to do so beforehand. The elevator pitch is that motivating factor. It’s the hook that gets them into the room. It’s the catchy jingle that gets people to pay attention to the ad. It’s the best parts of the business plan, without the boring details. The elevator pitch is the place for the excitement, not the place to include all the technology, buzzwords and explanations.
An elevator pitch should be able to be condensed into a single-page presentation, short enough to be memorized, or read easily within a few minutesóthat’s how it got its name, it’s a pitch that’s short enough to be presented during the course of an elevator ride. The elevator pitch condenses your business concept into something that can be presented in about a minute or twoóessentially, the parts that matter, the very ìessenceî of the business.
The elevator pitch skips the hard-core financials, and gets straight to the heart of what it is about the business that really gets you excited. That’s what this pitch is aboutóyou don’t need the proof of concept here yet, that comes in the full-length business plan. The elevator pitch is the commercial that gets people interested.
The elevator pitch should be inspirational and creative, hitting the high points of your business concept, and should accomplish the following:
ï Hit the high points of what it is you hope to do
ï Summarize the problem/solution aspect of your concept
ï Describe the business modelóhow is it going to make money?
ï Create excitement on the part of the reader/listener
ï Describe the profit potential without having to bring out charts and graphs
ï Tell why you/your company are well positioned to accomplish your goal
ï End with a call to action
The first couple sentences are the most critical, and should present your core concept. If you can’t tell what it is you want to do in two sentences or less, then you need to simplify your concept. There will be plenty of time to get into all the details later, once you’ve captured your audience’s interest.
Originally posted 2018-03-25 01:49:00.
The "Networking" Part of Network Marketing
Networking is obviously an essential part of network marketing. Every successful network marketer knows this to be true. Although networking is such an intricate part of network marketing, the two terms are not synonymous. However there are many similarities. Both rely heavily on people skills. Both require people to confront their fear of talking to other people. Both carry with them the risk of rejection. Both also carry with them enormous opportunity. And to some people, both are considered dirty words.
Of course people that consider networking as something that is ‘not done’ don’t understand what networking is really about. The same can be said of people that think network marketing is something that is beneath them. Many people think of networking as a way to get connected solely for their own advancement in life. In that respect a person might feel that it is unethical or not noble to network. This line of thinking stems from the idea that advancement will always come at the expense of someone else, that success in life is a zero-sum game. These people often look at network marketing from the same perspective. They think of profiting from other people’s efforts as something that is negative and not fair to them. In reality, successful networkers will tell you that it doesn’t work that way at all. Networking doesn’t have to be at anybody’s expense and the business of network marketing doesn’t reward anyone for taking advantage of others. It actually rewards people for helping other people to succeed. In that respect it may very well be the most ethical business model in the world today.
A lot of the negativity around networking can be explained by the different types of networkers. Some can be considered ‘hunters’, moving in for a quick kill, after which they move out again. They often operate without regard of the other persons interest and because of this they will enjoy the fruits of success for only a limited period of time. Often it will not take long before people find out what’s really driving the hunter. Once they see that he or she is only looking after his or her own interests, their willingness to interact with this person will quickly evaporate. By contrast, truly successful networkers are often ‘farmers’ who spend a lot of time sowing and nourishing their relationships, instead of just focusing on reaping. They invest in their network, they energize their network. They use their network, but they never ever abuse their network! And their network knows this. A true networker will always keep the interests of others in mind. That’s why working with a true networker is so enjoyable. Networkers are often very likeable and as such people like to interact with them.
Networking is a skill that is essential to all businesses not just network marketing. Although network marketing differs in many ways from the more traditional forms of doing business, the importance of networking is just as prevalent. If not more so. A network marketer that doesn’t know how to network will be out of business in no time. Network marketing is first and foremost a people’s business and this implies that the ability to effectively work with people is absolutely critical. This is why successful network marketers are extremely adept at networking. Many have found out over time that developing this skill can pay off in many areas outside their network marketing business as well. Business owners who have started a home based business on the side often apply their enhanced networking and people’s skills in their traditional business with great success. For some network marketers this spin-off has earned them more money than the income from their network marketing business itself.
So whether you are in network marketing or in a more traditional type of business, don’t underestimate the importance of becoming an effective networker. And if you really want to master this skill you may find there is a lot to learn from good network marketers. So if you happen to know anybody that fits that description, try and benefit from their knowledge on the topic. It will surely help you network your way to success!
Originally posted 2018-03-22 05:05:00.
Network Marketing Home Business
Many people that think operating a business from home is glamorous, exciting, and filled with freedoms that you can never experience if you work for someone else. Without the obligations that come from reporting to an employer everyday and they then think the money is easily acquired. This article will look at both the positives and negatives of owning a home-based business.
An important part of working from home is letting others know you have a business and this is done through networking. Network marketing is not always easy for everyone. There are individuals who are very natural at talking with others and find it quite easy to be in a room full of strangers and talk about what they have to offer. Then there are those terrified of the idea of network marketing and would prefer to stay home and pay someone else to do this portion of the business for them. Network marketing does not have to be a horrible experience for you and you do not have to have a panic attack at the thought of attending one. When you prepare for network marketing and do not go in with your eyes closed, you will find that it will make an enormous difference in the productivity of your business. Network marketing can be beneficial in building a plethora of resources and contacts that you can have at your fingertips to propel your business forward.
Decide in advance how many people you want to talk to and do just that. If it is your first time, you may only want to talk to three people. Although once you are there, you will probably find yourself relaxing and notice that you came home with more than three contacts. Do not forget the business cards of the people you meet. In the excitement, you may forget their names. It is a good idea to jot down some relevant information on the back of the card to help you remember why or why not you like that particular contact.
In order for your home business to be successful, you have to make your presence known. You can do this through advertising and word-of-mouth. However, staying inside your protective home and never letting anyone know whom you are will not generate many clients or bring an increase in your profits. Go out, have coffee, and talk to others about your services. Walk into businesses that you think will profit from your services and let them know what you have to offer. If you have children in school, you can offer your services to the PTA or other groups that your child may be involved. Do not discount your sphere of influences because it is from this circle that your business will grow.
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Originally posted 2018-03-17 05:59:00.
Local networking events
Have you ever been invited to a networking breakfast? Or a networking lunch? These may should sort of strange to the person who has never been to one before, but these types of situations are key to moving yourself to talk with others about what you do, how you do it, and what you provide in the form of services and products.
Many areas have their own type of networking events
These include business meetings to talk about the economy, or business meetings to set new ordinances for the local surroundings ñ everywhere you have people; you have the opportunity to ëdoí additional networking. The more people you know and talk with the stronger your network of business contacts and customer contact is going to become.
The first step to successful local networking is going to involve doing it
You need to get out there, and be where other business owners are, or at least where large groups of people are going to be found. Next, you need a good opening question. The best question you can ask a person when you are networking is, what do you do? This is not only going to open the door to talking with another person, but also it is going to open the door for that person in turn to ask you what you do ñ which is just what you want them to ask you!
Networking should be done in conversation when you are in situations where you donít know someone all that well. Business cards are often given out, and passed around. If you are heading off to a club meeting, or a networking business affair, you should also have marketing materials with you, such as a brochure or some type of printed matter to show and tell others what you do. As others find your materials handed to them, or presented on a table of information, they have something tangible to take with them, read later, and to think about later.
Collect phone number, emails and information about other businesses. As you collect information about others, you will soon learn that you can use this information after you are back at the office, back at your own business. Create a marketing package for each individual that you have met. Mail out the information with a personal note from you, that it was great talking with you, and you just wanted to share some additional information about your business with them, in case they ever have a need for a product or service that you provide. This is very straight marketing, after the initial networking event, make it work for you!
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Originally posted 2018-03-15 14:49:00.
How Well Do You Know Them?
It is often said that it is not who you know that matters, it is who knows you. Well I would like to extend this statement by saying that it is not only who you know and who knows you, but how well do you know them and they you?
In business, networking is the ultimate form of promotion. It can help you to obtain new clients, a new job, or even help you to move up the corporate ladder. It is the process of building relationships. Any time that you attend a meeting, trade show, or a social function, you are networking whether you realize it or not. It is the relationship that you have with people, a prospect or a client that makes the difference between success and failure.
Often we fail to realize the reasons that we have for doing business with an individual or a company. In the case of products that we regularly buy, what helps us to make the buying decision? There are those that will buy a specific brand of product because they trust that brand to be of a high quality or durability. There are others that will make a buying decision based on price, although this is less frequently the case. Often we simply do business because we feel good about it. In fact most purchases or decisions to do business are based on two things. Trust and comfort. Trust is a very intangible emotion or feeling. How do you measure it? How do you develop it?
Trust is measured by the feelings that are generated by a process of letting someone get to know more about you than just product, features and price. I know a gentleman who provides a seminar on selling to C-level executives. He says that to sell to the C-level executive you have to be more than a salesperson selling a product or service. To sell to the executive level, you have to be more of an advisor. You have to find needs other than the ones that you can fulfill and help them to fulfill these needs. In doing this, you become a “trusted advisor”. They feel “comfortable” that you have their interests in mind more than just making a quick sale and a commission.
In our daily process of seeking prospective clients, do we often just look for a person to pitch, or do we spend a bit more time getting to know them before we try to sell?
When we take the time to know a persons desires, dreams, and needs, and make an honest effort to help them realize that these things are important to us, we are really on the fast track to doing business with them. We are building the trust, confidence, comfort level, and most importantly the relationship that is needed to not only make the sale, but to create in them a resource for endless referrals.
As we go into the community meeting people who are prospective clients, we should keep the following in mind. The customer is a person just like me. The customer has needs other than the one that I can fulfill. Until I understand what the ultimate goal or dream of the prospect is, I cannot fulfill it with my product or service.
Selling and networking are about relationships. You sell in everything that you do whether you realize it or not. The time is now for more effective selling. Change the way you think about the prospect and the prospect will change the way that they think about you.
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Originally posted 2018-03-13 10:45:00.