Disruptive innovation is term created by Clayton Christensen- a new invention or product that alters its market. It typically refers to technological advances that result in changes on the macro-scale, such as the digital camera that left Kodak’s traditional film cameras in the dust or the mass-produced automobile that completed revolutionized the transportation industry.
With each innovation, there is risk taken on by the company and disruption faced by the users. The companies promoting this new product do not know if it will succeed. They are challenging previously set norms and values and introducing an alternative way method that they hope will benefit the public. However, if it catches on, the users have to adjust to these developments and accept the new.
But not all innovation has to be on this large-scale. It could be small changes that you choose to implement within your company in order to become more efficient.
For your business, consider making changes to your business process. The business process is all the small parts that come together to accomplish the company’s goal. Therefore, think
If you are willing to know some of the best event marketing methods, you might search up the internet and know the entire ifs and buts of event marketing and management, but it’s better to understand the experiences first. When it comes to marketing tips for events, you don’t need to follow the old rules that are no longer applied but should go out to search for better experiences to work for your event. As we all know, with the grace of social media, marketing and promotional side of event is already taken good care of, making it much more easy and convenient to circulate the information to all. You need to keep a check that your event should reach to the right people at the right time so as to make sure you have utmost registration and participation.
So in case you are about to plan your next event, here are some rules and guidelines that can
The increasing significance of the Internet has led to the birth of the online entrepreneur. With buying and selling already possible through the World Wide Web, it only seems plausible to start an online business. But with so many internet websites doing commerce and trade, how can you really start, compete, and hopefully, make the money? Building your online trade is a very complex process, but with the following tips on starting online business today, you can perhaps make a good start right off the bat.
The name should fit. Most successful products and services enjoy huge runs in terms of sales mainly because of the brand name. It is important to remember that the name represents what you offer to the client. Therefore, it is of great significance that you conjure up a name that is easy to pronounce and remember, as well as related to the kind of goods or services you are peddling.
Know the Internet. If you are building an internet business, it is only fitting that you know how to
After the crippling recession that hit the world sometime back, the economies have just about started recuperating. So in these tough times, where the demand for jobs is high, but the supply is still very low, how do you find the job that is best suited to your skills and aspirations? Some of the tips provided in this article may help you in your search.
Build Your Resume
Basic marketing will tell you that a product does not sell without a good catchy ad. The resume is like a personal advertisement of yourself and learning how to design your resume is one of the most important aspects. If you build a good resume, with emphasis on the right words, then the interview calls will start coming in more frequently. It is important to have a strong objective statement. Talk about your skills, achievements, strengths, etc. Use a proper layout to make your resume look professional and neatly presented. It is recommended to update your resume as per the type of role and company applied for.
Online Job Search
Internet has made information a lot more accessible. Now, you can look for jobs on various online recruitment websites. There are quite
Returning to work after looking after an elderly relative
Returning to work after a serious illness
Retired, but need extra income
Needing to increase your finances
No matter what reason you find yourself looking for a job, you’ll need some job search tips to stay organized so that you stay ahead of the game in the 21st century job market.
The thing is, if you’re organized it’s a lot easier to keep track of your progress. OK, so what’s the best way to do this? Well, it just takes a few job search tips, a little planning and it doesn’t have to cost much.
If you already have the Microsoft Excel software on your computer then creating a spreadsheet is the easiest way to keep track of all your job applications. If you don’t have the software, no problem, just use a good old-fashion text pad and write everything down.
OK, so what sort of details should you be including to keep yourself organized?
There are so many parts to the job search and each requires a different approach or strategy. Start by breaking your job search down into bite-sized pieces. This is a great strategy especially if you’re feeling unmotivated/overwhelmed as a bite-sized job search will feel more manageable and help you experience small wins along the way (not to mention boost your confidence). Figure out where exactly you fall on the job search spectrum and maintain focus. For example if you haven’t received any interviews your focus will need to be on some aspect of the application process (networking, applying, revising your resume). Don’t spend time thinking about interviewing or salary negotiation at this point as it will be futile to the task at hand.
2. Get Focused on What You Want
It’s all about your target. What are you going after? Without this, watch out for endless job board roaming (yikes). When you actually do find what you want, you risk confusing the hiring manager with your lack of focus. They’ll want to know you are in it to win it ONLY with them. Spend some time getting focused on your
The main purpose of financial accounting is to provide necessary economic information required for decision-making in a business. Financial accounting follows certain rules and guidelines to prepare reports on the financial standing of an entity. These rules and guidelines are usually referred to as Generally Accepted Accounting Principles (GAAP). GAAP sets its accounting standards and guidelines for preparing financial reports for public, private, non-profitable organizations, and government-owned companies.
Readers of a financial report should be intimated if the information provided in the financial statements follow the GAAP guidelines. The accountant or auditor is responsible for ensuring this procedure.
Fundamental Concepts of Accounting
This principle treats the company as a separate entity from its owners. Personal accounts of owners/partners should be kept separate from profits and expenses of the company. So, the accounting reports are prepared from the viewpoint of business purposes and not from the owner’s outlook.
This principle states that the company has to consider the original cost of fixed assets like building and machinery, rather than market value. But today, most of the companies report only the market value.
According to this principle, the auditors should prepare
It is imperative to control the cost when you venture into the market. Cost control management deals, particularly with the control of various costs associated with running a business.
Moreover, it happens to be a shared responsibility and requires the effort of every individual related to the company. It can have three basic aspects under its purview:
1. To find out the cost centers and their variance (if any) with the industry standards.
2. To find out why we are incurring more cost than our competitors.
3. To deal with ways by which, we can drive our cost to the level at which our competitors are, or lower.
Steps Involved In Cost Control
There are a few steps that lead us to the corrective form of cost control and increase the profitability of a company. All steps involved play an important role in framing a company’s policy to stand tall in the market. The steps include:
Establishment of Standards
The primary step that a company has to follow is setting up objectives and targets that it wants to achieve in the near future. The set targets are the initials of the planning stage and act as a reference line for appraisal
For any type of business, building a network will be very useful as they can reach more clients and customers without actually spending much money on it. A single network can easily grow as long as you have a good networking plan. This helps in building long term and strong relationship between your business and your clients. Through networking, your scope of clients will become bigger and wider which your business can benefit much from. It is just very important that one knows how to take care of their network and make up a plan to make it bigger and wider so that they can have more clients in the end. Here are some useful tips to have a successful business networking.
First of all, make up a plan which will not only provide you temporary results. Think of ways wherein you will be able to enjoy the results for a long time. Long term results will require thorough planning and continuous execution of plans and methods. You can stay connected with your networks by simply sending them tools which will keep them updated with you like newsletters, press releases and simple update letters. By doing this,
It’s a good idea to select an area which you already have an interest in, for a number of reasons. You already have some knowledge and expertise in this area which is invaluable and you won’t necessarily be starting from scratch. If you chose an area which is already of interest to you it won’t necessarily feel like work, especially when the going gets tough. No matter which area you chose you will undoubtedly have rough patches, when this happens you are much more likely to persevere because you have an attachment, a vested interest and a passion. If you have no interest you’ll be much more likely to throw in the towel at the first sign of trouble.
2. Prepare a Business Plan
A business plan is not just something which you need to prepare to show to banks for a loan or to investors. A business plan is necessary and useful as it also serves as a guide to operate by. It’s a great way to set goals, measure progress and achievements and keeps you on track with spending. Keep yourself organised and create a folder on your
Online home business employs more people than any other form of business activity. People are encouraged about the fact that industry is well up to it. The recent phase of global economy has strengthened the cause. Comfort factor continues to be the prime source of inspiration. It has provided exciting range of opportunities to single mothers and old age people. They are not required to posses any extra qualities to start business from home. Tips to start home business mentions the fact up front that there are no short answers to success. Proper managerial skills and targeted approach is must. To work from home, it never advertizes the fact that people can mix and match things over here. Start realizing it fast that business is about dedicated vision, either from home or office. The good part is that one can chose particular timings and working environment to his or her advantage. Investment is another key area. Tips to start home business emphasizes on the point that there is wide investment margin available. It depends on the situation and specific business requirements.
Tips to start home business present global marketing strategy. To make it bit more interesting, it
1. Business to Business – where your delegates are other businesses. These often take the form of training, informing or networking and occasionally awards ceremonies or conferences. If this is relevant to you here are my top 5 tips:
Dig out existing customers’ details so that you tell them first!
Make sure you give people plenty of notice to get the event in their diaries, I recommend at least one month in advance, preferably two.
Think of an innovative way to let your target audience know about the event – a quirky hand-delivered invite or special voucher incentives to give people to bring along with them work well.
Don’t miss all of the obvious opportunities to market your business event: on your website (do you have a news section?); on the bottom of your invoices; posters near or in your premises (if you have them) or, if you don’t, at the venue where the event will be held and at any business networking that you do
Give them an irresistible reason to attend! Can you get a high profile guest speaker, perhaps, or offer expertise that’s topical and cutting edge?
2. Consumer Events– marketing to the general public. These are
The aim of any business organization is to make profits. Every year, a company makes an estimate of the revenue it expects to make in that financial year. To achieve this, it develops a number of financial, production and business strategies. A business development manager ensures that the business strategies to attain revenues, are implemented. Growing the business, finding new clients, building on the relationship with old ones, providing the customers with the kind of products and services they demand, closing deals, these are some of the jobs that a business development manager in an organization is expected to perform, to achieve the preset business goals.
A business development manager meets up with the prospective clients of the business. He gives them a presentation on the company’s products and services. He stays in touch with the clients and convinces them to try the company’s offerings. Thus, a major part of his job involves increasing the consumer base of the company.
In a large organization, a business development manager usually heads a team of sales executives, business development executives and other sales staff who work under him. Keeping his team motivated, explaining to them their individual sales goals, ensuring that they
Buying, selling, or maintaining a property has never been an easy task. Yet, if done efficiently, this work can turn out to be rewarding. Property preservation involves safeguarding and protecting the properties that are owned by the bank, or those that have been foreclosed or defaulted. Apart from securing, the work also involves preparing the properties for sale. This business is one of the fastest-growing ones since 2010 and is expected to go much more further. The paragraphs below will give you some tips on how to start a property preservation business.
People buy a house, a bungalow, etc., by taking a loan from a bank or any financial institution. Sometimes, unfortunate situations crop up, and people are unable to either repay the loan or fulfill the contract requirements on time. This causes the property to revert to the bank. Many a time, the homes are left in an unmarketable condition. Here is where the concept of property preservation comes up. These companies/services handle the foreclosing formalities and prepare the home for resale. Such properties are called ‘real estate owned’ (REO) properties. As more and more such abandoned/vacant homes come up, this business keeps expanding, as people are needed
Though it is easy to set up a small enterprise however there are three excellent marketing tips for small business owners that can make their business successful in no time.
1. Go for mobile apps development
In this era of technology, people often remain closed with the gadgets they have such as tablet PC, iPhones, smart phones and so on. These days, they don’t use apps that are meant for entertainment purpose only, but they often look for apps that allow them to buy what they need. This is something that clearly indicates that until and unless you allow the people to access your business through mobile apps, you cannot stand among the competitors.
Going for mobile app development is one of the excellent marketing tips for small business that you own. There is no need to worry as apps development is not costly and you don’t have to spend a huge sum of money in it.
2. Use social media networks effectively
Social media is the only platform which has millions of active users across the globe all the time. Thus using these networks for business marketing is something that can introduce
Starting a wedding dress business can be a creative and interesting way of entering a business. It is not only enjoyable but also a highly profit-oriented one. Also, every day you will get to meet many women who would want a ‘perfect’ wedding dress for the most important day in their lives. It will always be better if you had an experience in managing a wedding dress business before. This will help cater to its smallest requirements in a better way. You can either go for a start-up or buy an already-existing wedding dress business. Also, remember not to overstock the wedding dress as the trends will keep changing with every season. However, do remember to get a design in various sizes for different women. The latter will prove to be extremely cost-effective for you. Here are a few essential steps for starting a wedding dress business.
It is important that you conduct market research before starting the business. Consult someone who is doing the same business in another area for guidance. Know about the age group demographics of your clients. Understand their tastes, and stock up your shop accordingly. Knowledge about having a shop in
Internet advertising promotion is like weight loss diet programs; there are therefore many choices available, but the majority of them appear to be scams. Probably the most used ways of increasing web site advertising is Google AdWords.
This is a PPC approach to advertising that anyone can simply incorporate into their internet marketing plan. When putting an online ad, it is best to keep your market in mind. You will want to have your advertisements written in the language that your target audience speaks. If you work with English, after that don’t advertise to countries that don’t have a big English speaking segment of the populace.
You should also test 2 new advertisements at the same time. This is called an A/B split test. Like this, you can observe which advertisement performs better by attaining a higher click on through ratio. Continue to utilize the advertisement that performs better and eliminate the one which performed very poor. That’s the moment when you can actually write up a very new ad and test it along side the one which performed the best. Continue doing this to ensure that you could have the most effective ad.
Any kind of business thrives on customer support. In essence, businessmen do consider (and should consider) their customers to be the ultimate judge and deciding factor for the organization’s success. No venture can imagine ignoring the needs of its customers. Managing and understanding the needs of the customers is one of the prime responsibilities of the customer service managers. They ensure that the communication between all the departments is maintained effectively so that quality products are delivered to the consumers.
Customer service managers work for the satisfaction of the customers.
They may work at various levels, right from managing and dealing the customers at the reception, to the higher level offices where they’ve to make the officers and seniors aware about the customer needs and expectations.
They have to manage a team of staff and chalk out a customer service policy for the entire organization.
There are various job profiles associated with the job of these managers. For example, it offers various opportunities in the field of customer care managers, corporate services manager, customer relationship manager, and customer operations manager.
Each of these have their own specific responsibilities to carry forward and manage the
Keeping customers happy at all times is the key to business success. Your reputation depends on how happy your customers are; so the quality of the products and services is essential. There are various ways to achieve this, and it can be done by offering great deals and rewarding loyal customers, as well as having a helpful and convenient customer service line. Other tactics can include resolving queries, such as refunds and returns, as well as offering help and advice for breakages and repairs when a product stops working. This may involve keeping spare parts at hand to send them to the customer for any repairs needed.
Spare parts management is an important aspect considered by many businesses, as they need to ensure that the right spare part and resources are available to the customers in the correct place and at the correct time, when required. Spare parts are additional parts that are sometimes needed for a functional object, for example, a car, a boat or an engine, which may be used to repair damage caused.
Spare parts are not always available, due to additional costs that the business may face for stocking these. Customers might
Consider the following statistics:
It costs 4 – 5 times more to get a new client than to retain an existing one.
A happy customer talks about his positive experience to 5 other people, whereas a disgruntled one will talk about it to 12 other individuals.
A 2% customer retention rate is equivalent to profits made by 10% of cost reduction.
These facts go on to reinforce the importance of customers for a business. They are the source of profits as well as an effective advertisement for your products or services. Here are some handy tips for a business to help retain its most important asset:
1. Customer Service Etiquette: Besides a good product or service, it is the way a customer feels when he deals with you, is what brings him back to you again and again. Greet them with a smile when they walk in. Make them feel important. Be at their call any time they need help. Listen to what they have to say and try to accommodate their needs. If you can’t, then politely explain the reason behind why you can’t fulfill a specific request.
2. Listen and Deal with Complaints: There is nothing worse than