Category: Business Content

Business Content!

Business Content, Opportunity, and Small Business Ideas, Businesses can privately own, not-for-profit or state-own. An example of an Online eCommerce industry is Google Searching Web and also Facebook Social Site.

While a mom-and-pop catering profession is a private enterprise. Every industry requires some form of investment and enough customers to whom its output can sale on a consistent basis in order to make a profit. An organization or economic system where goods and services stand exchanged for one another or for money.

A business (also known as an enterprise, a company, or a firm) is an organizational entity and legal entity made up of an association of people, be they natural, legal, or a mixture of both who share a common purpose and unite in order to focus.

Their various talents and organize, their collectively available skills or resources to achieve. Specific declared goals are involved in the provision of goods and services to consumers. A profession can also describe as an organization that provides goods and services for human needs.

Business - ilearnlot

  • What is the Growth Strategy for Case Study Starbucks?

    What is the Growth Strategy for Case Study Starbucks?

    Case Study Starbucks Growth Strategy; Today, Starbucks coffee shops and Kiosks can found in a variety of shopping centers, office buildings, bookstores, and other outlets. Starbucks is capitalizing on taste changes that predate the company’s founding. In the early 1960s, American adults consumed an average of three cups of coffee each day. Today, consumption has declined to less than two cups, with only half of American adults as coffee drinkers. Also learn, Starbucks’ Entry to China, What is the Growth Strategy for Case Study Starbucks?

    Studies, Learn, The Growth Strategy for Case Study Starbucks!

    During this time, decaffeinated coffee sales soared. In addition, a new category of intensely loyal coffee drinkers was born. This group of adults consumes “specialty” or “premium” coffees, including regular and decaffeinated versions with a variety of origins and flavors. Sales of specialty coffee have climbed from about $45 million annually to more than $2 billion today, accounting, for about 20 percent of all coffee sales.

    Because Starbucks markets whole beans and coffee beverages, its competition comes from two distinct groups of firms. A number of regional coffee manufacturers distribute premium coffees in local markets, while several large national coffee manufacturers such as Nestle, Proctor & Gamble, and Kraft General Foods market and distribution specialty coffees in supermarkets. Coffee beverages are distributing by restaurants, grocery stores, and coffee retailers. Seattle’s Best Coffee is a fierce competitor.

    The case of History!

    In 1971, three academics, English Teacher Jerry Baldwin, History Teacher Zel Siegel, and writer Gordon Bowker opened Starbucks Coffee. Tea and Spice in Touristy Pikes Place Market in Seattle. The three were inspired by entrepreneur Alfred Peet (whom they knew personally) to sell high-quality coffee beans and equipment. The store did not offer freshly brewed coffee by the cup, but tasting samples were sometimes available.

    Siegel will wear a grocers apron, scooped out beans for customers. While the other two kept their day jobs but came by at lunch or after work to help out. The store was an immediate success, with sales exceeding expectations, partly because of interest stirred by the favorable article in Seattle Times.

    Other things:

    Starbucks ordered its coffee-bean from Alfred Peet but later on, the three partners bought their own used roaster setting up roasting operations in a nearby ramshackle building and developed their own blends and flavors. By the year 1980s, the company had four Starbucks Stores in the Seattle area and had been profitable every year. Later on, Siegel left the company and Jerry Baldwin took over day-to-day management of the company. Gordon Bowker remained as an owner but devoted most of his time in his Design Firm.

    In 1981, Howard Schultz, the vice president of U.S operations for Swedish Maker of stylish kitchen equipment and coffeemakers decided to pay Starbucks a visit. He was curious about why Starbucks was selling so many of his company products. He was impressing with the company management and the quality products they make. Schultz asked Baldwin whether there was any way he could fit into Starbucks and it took a long time to decide his request. He tries many times until one day he was given a job of heading marketing and overseeing the retail stores.

    The case of Challenges:

    • What are some of the challenges associated with Starbucks aggressive growth strategy?
    • Could an unanticipated change in coffee consumption patterns disrupt Starbucks in the same way that it paved the way for the company’s growth in the 1980s?
    • What problems might arise from Starbucks’ efforts to expand rapidly into nations such as India?
    • Comment on the pricing strategies of Starbucks.
    • How would you see the competition of Starbucks in India, with players like Costa Coffee, Mc Donalds, Barista and Café Coffee Day? Draw out a competitive strategy for Starbucks.

    Here are Some More Knowledge these Case for better Understand.

    Howard Schultz spent most of his working hours in the four stores learning the retail aspects of the company business; Schultz was overflowing with ideas for the company. His biggest inspiration and vision for Starbucks future came during 1983 when the company sent him for an international housewares show to Milan, Italy. There he spotted an espresso bar and went to take a coffee.

    H. Schultz was impressed with the coffeehouse services and decided to stay at Milan for a week to explore. All coffee bars and learned as much as he could about the Italian passion for coffee drinks. He made a decision to serve fresh brewed coffee, espressos, and cappuccinos in its stores and try to create an American version of Italian coffee bar culture.

    Schultz shared his idea with Baldwin and it took nearly a year to convince Jerry Baldwin to let him test an espresso bar. In April 1984, the first espresso bar was opened and it was a success too. Yet Baldwin felt something is wrong. After Schultz failed to convince Baldwin for the expansion of business, he left Starbucks in 1985. Schultz started the “Il Giornale” coffee bar chain in 1985 and the coffeehouse was very successful.

    In 1987 Starbucks owner Jerry Baldwin and Bowker decide to sell the whole Starbucks chain to Schultz’s Il Giornale. Which rebranded the Il Giornale outlets as Starbucks and quickly began to expand. Starbucks opened its first locations outside Seattle at Waterfront Station in Vancouver, British Columbia, and Chicago, Illinois, that same year. At the time of its initial public offering on the stock market in 1992, Starbucks had grown to 165 outlets.

    The growth of Coffee Stores!

    In 2009 The Company plans to open a net of 900 new stores outside of the United States. Chairman Howard Schultz projects that the Starbucks mobile app will grow from its present 6,000 stores to more than 20,000, 75 percent of which are in the United States. Also, The company added 280 intentional locations in 2001 and is targeting. With an additional 650 stores in Europe by 2004 and 900 locations in Latin America predominantly Mexico by 2005, Starbucks is also moving into China.

    Retail stores account for more than 80 percent of revenues, with specialty operations accounting for the remainder. Starbucks Corporation is an American coffee company and coffeehouse chain. Starbucks was founded in Seattle, Washington in 1971. As of 2017, the company operates 27,339 locations worldwide. Also, Starbucks first became profitable in Seattle in the early 1980s. Despite an initial economic downturn with its expansion into the Midwest and British Columbia in the late 1980s, the company experienced revitalized prosperity with its entry into California in the early 1990s.

    Location:

    The first Starbucks location outside North America opened in Tokyo in 1996; overseas properties now constitute almost one-third of its stores. Also, The company opened an average of two new locations daily between 1987 and 2007. Starbucks considers the main representative of “second wave coffee”, initially distinguishing itself from other coffee-serving venues in the US by taste, quality, and customer experience while popularizing darkly roasted coffee.

    Since the 2000s, third wave coffee makers have targeted quality-minded coffee drinkers with hand-made coffee based on lighter roasts, while Starbucks nowadays uses automated espresso machines for efficiency and safety reasons. On December 1, 2016, Howard Schultz announced he would resign as CEO effective April 2017 and would replace by Kevin Johnson. Johnson assumed the role of CEO on April 3, 2017.

    What is the Growth Strategy for Case Study Starbucks
    What is the Growth Strategy for Case Study Starbucks?

    Reference:

    1. Case Study – //www.mbaknol.com/management-case-studies/case-study-starbucks-growth-strategy/
    2. About Starbucks – //en.wikipedia.org/wiki/Starbucks
    3. Photo Credit URL – //cdn.someecards.com/posts/guy-uses-drone-to-pick-up-starbucks-order-0rb.png

  • What is a Dollar?

    What is a Dollar?

    What is a Dollar? Meaning, Definition!

    Dollar (often represented by the dollar sign $) is the name of more than twenty currencies, including (ordered by population) those of the United States, Canada, Australia, Taiwan, Hong Kong, Singapore, New Zealand, Liberia, Jamaica, and Namibia. The U.S. dollar is the official currency of East Timor, Ecuador, El Salvador, Federated States of Micronesia, Marshall Islands, Palau, the Caribbean Netherlands, and for banknotes, Panama. Generally, one dollar is divided into one hundred cents. The Currency, a system of money in general use in a particular country. What is a Rupee? Now, you learn What is a Dollar?

    “The history of the dollar. For symbol “$”, see Dollar sign. The Slovenian philosopher, see Mladen Dolar. The municipality in Spain, see Dólar.”

    Exchange Currency in US Dollar 

    One US Dollar ($1) Rated to Others Country:

    1. 1.38 Australian Dollar
    2. 1.00 Bahamian Dollar
    3. 2.00 Barbadian Dollar
    4. 2.01 Belize Dollar
    5. 1.00 Bermudan Dollar
    6. 1.44 Brunei Dollar
    7. 1.34 Canadian Dollar
    8. 0.82 Cayman Islands Dollar
    9. 2.70 East Caribbean Dollar
    10. 2.13 Fijian Dollar
    11. 207.21 Guyanaese Dollar
    12. 7.76 Hong Kong Dollar
    13. 128.80 Jamaican Dollar
    14. 91.00 Liberian Dollar
    15. 13.96 Namibian Dollar
    16. 32.01 New Taiwan Dollar
    17. 1.44 New Zealand Dollar
    18. 1.44 Singapore Dollar
    19. 7.39 Surinamese Dollar
    20. 6.75 Trinidad & Tobago Dollar

    History of Dollar

    On 15 January 1520, the Czech Kingdom of Bohemia began minting coins from silver mined locally in Joachimsthal (Czech Jáchymov) and marked on the reverse with the Czech lion. The coins were called Joachim’s thaler, which became shortened in common usage to thaler or taler. The German name “Joachimsthal” literally means “Joachim’s valley” or “Joachim’s dale”. This name found its way into other languages: Czech tolar, Hungarian tallér, Danish and Norwegian (rigs) daler, Swedish (riks)daler, Icelandic dalur, Dutch (rijks)daalder or daler, Ethiopian ታላሪ (“talari”), Italian tallero, Polish talar, Persian dare, as well as – via Dutch – into English as dollar.

    A later Dutch coin depicting also a lion was called the leeuwen daler or leeuwen daalder, literally ‘lion daler’. The Dutch Republic produced these coins to accommodate its booming international trade. The leeuwen daler circulated throughout the Middle East and was imitated in several German and Italian cities. This coin was also popular in the Dutch East Indies and in the Dutch New Netherland Colony (New York). It was in circulation throughout the Thirteen Colonies during the 17th and early 18th centuries and was popularly known as “lion (or lyon) dollar”. The currencies of Romania and Bulgaria are, to this day, ‘lion’ (leu/leva). The modern American-English pronunciation of dollar is still remarkably close to the 17th-century Dutch pronunciation of daler. Some well-worn examples circulating in the Colonies were known as “dog dollars”.

    Spanish pesos – having the same weight and shape – came to be known as Spanish dollars. By the mid-18th century, the lion dollar had been replaced by Spanish dollar, the famous “pieces of eight”, which were distributed widely in the Spanish colonies in the New World and in the Philippines.

    Types of Dollar with Countries Bases

      Antigua and Barbuda East Caribbean dollar XCD    
     Australia and its territories Australian dollar AUD 1966-02-14 Australian pound 1910-1966
    Pound sterling 1825-1910
     Bahamas Bahamian dollar BSD   Bahamian pound
     Barbados Barbadian dollar BBD    
     Belize Belize dollar BZD/USD 1973 British Honduran Dollar
     Bermuda Bermuda dollar BMD    
     Brunei Brunei dollar
    (Alongside the Singapore dollar)    		 BND
    (SGD)    		    
     Canada Canadian dollar CAD 1858 Canadian pound 1841-1858
    Spanish dollar pre-1841
    Newfoundland dollar, pre-1949 in the Dominion of Newfoundland
     Cayman Islands Cayman Islands dollar KYD    
     Dominica East Caribbean dollar XCD    
     East Timor United States dollar USD    
     Ecuador United States dollar USD 2001 Ecuadorian sucre
     El Salvador United States dollar USD 2001-01-01 Salvadoran colón
     Fiji Fijian dollar FJD    
     Grenada East Caribbean dollar XCD    
     Guyana Guyanese dollar GYD    
     Hong Kong Hong Kong dollar HKD 1863 Rupee, Real (Spanish/Colonial Spain: Mexican), Chinese cash
     Jamaica Jamaican dollar JMD 1969 Jamaican pound
     Kiribati Kiribati dollar along with the Australian dollar N/A / AUD    
     Liberia Liberian dollar LRD    
     Marshall Islands United States dollar USD    
     Federated States of Micronesia United States dollar USD    
     Namibia Namibian dollar along with the South African rand NAD 1993 South African rand
     Nauru Australian dollar AUD    
     New Zealand and its territories New Zealand dollar NZD 1967 New Zealand pound
     Palau United States dollar USD    
     Saint Kitts and Nevis East Caribbean dollar XCD    
     Saint Lucia East Caribbean dollar XCD    
     Saint Vincent and the Grenadines East Caribbean dollar XCD    
     Singapore Singapore dollar SGD    
     Solomon Islands Solomon Islands dollar SBD    
     Suriname Surinamese dollar SRD 2004 Surinamese guilder
     Taiwan New Taiwan dollar TWD 1949  
     Trinidad and Tobago Trinidad and Tobago dollar TTD    
     Tuvalu Tuvaluan dollar along with the Australian dollar TVD / AUD    
     United States and its territories United States dollar USD 1792 Spanish dollar
    colonial script
     Zimbabwe United States dollar USD   Zimbabwean dollar

    Note: All Countries Dollar exchange rate, 21 December 2016.

    What is a Dollar Meaning Definition - ilearnlot

  • What is a Rupee?

    What is a Rupee?

    What is a Rupee? Meaning, Definition!

    The rupee is the common name for the currencies of India, Indonesia, Maldives, Mauritius, Nepal, Pakistan, Seychelles, Sri Lanka, and formerly those of Afghanistan, Burma and British East Africa, German East Africa and the Trucial States. Basically, the rupee is monetary unit of India, equal to 100 paise in India, Pakistan, and Nepal. As Wall as equal to 100 cents in Sri Lanka, Mauritius, and Seychelles. What is a Rupee? a system of money in general use in a particular country.

    In the Maldives, the unit of currency is known as the rufiyah, which is a cognate of the Sanskrit rupya. The Indian rupees (₹) and Pakistani rupees (₨) are subdivided into one hundred paise (singular paisa) or pice. The Mauritian and Sri Lankan rupees subdivide into 100 cents. The Nepalese rupee subdivides into one hundred paisas (both singular and plural) or four sukas or two mohors. Definition of Organization, What is Glocalization? Meaning, Definition!

    Rupee Exchange Currency to per US dollar

    1. 67.84 Indian Rupee
    2. 35.95 Mauritian Rupee
    3. 108.52 Nepalese Rupee
    4. 104.85 Pakistani Rupee
    5. 13.27 Seychellois Rupee
    6. 149.76 Sri Lankan Rupee
    7. 13440.00 Indonesian Rupiah
    8. 15.36 Maldivian Rufiyaa

    “All currency Exchanging to per US dollar on a date of 24 December 2016, rupee use in the country of India, Mauritius, Nepal, Pakistan, Seychelles, Sri Lanka, and Indonesia use to Rupiah, the Maldives using Rufiyaa.”

    History of Rupee

    The history of the rupee traces back to Ancient India circa 3rd century BC. Ancient India was one of the earliest issuers of coins in the world, along with the Lydian staters, several other Middle Eastern coinages, and the Chinese wen. The term is from rūpya, a Sanskrit term for the silver coin, from Sanskrit rūpá, beautiful form.

    The Indian rupee was come first introduce issued and termed as rupiya, the silver coin, by Sher Shah Suri (1540–1545), continued by the Mughal rulers. The Kabuli rupee and the Kandahari rupee were using as currency in Afghanistan prior to 1891 when they were standardized as the Afghan rupee. The Afghan rupee, which was subdivided into 60 paisas, was replaced by the Afghan afghani in 1925. After the middle of the 20th century, Tibet’s official currency was also known as the Tibetan rupee.

    The Indian rupee was the official currency of Dubai and Qatar until 1959 when India created a new Gulf rupee (also known as the “external rupee”) to hinder the smuggling of gold. The Gulf rupee was legal tender until 1966 when India significantly devalued the Indian rupee and a new Qatar-Dubai riyal was established to provide economic stability.

    Types of Rupee used by Countries

     

     India Indian rupee INR ₹ 67.73
     Indonesia Indonesian rupiah     IDR Rp 13,024
     Maldives Maldivian rufiyaa MVR Rf 12.80
     Mauritius Mauritian rupee MUR Rs 35.65
       Nepal Nepalese rupee NPR रू 106.76
     Pakistan Pakistani rupee PKR Rs 104.67
     Seychelles    Seychellois rupee SCR SR 13.20
     Sri Lanka Sri Lankan rupee LKR රු 147.04

    What is a Rupee Meaning Definition - ilearnlot

  • The Importance Benefits of Corporate Retreats in Business

    The Importance Benefits of Corporate Retreats in Business

    Following are the Importance Benefits of Corporate Retreats in Business!

    Corporate retreats should handle in such a way that they are loved by everyone. Not only executives or big leagues, but also other employees should keep in mind while planning an office retreat. Office retreats have a lot of benefits, including Rewards – Corporate retreats are a good way to reward your employees. On corporate retreats, management can show their gratitude and appreciation toward their employees through many recreational and meaningful activities. Second Skill building – Besides team building, skills building is another important advantage of corporate retreats. Office retreats ensure that employees are able to build skills as well as know how to perform as a team. Why Small Business needs Corporate Retreats Good for Productivity? Now, learn Corporate Retreats in Business.

    Increases in Revenue

    Increasing sales and revenues are related but different goals, and each needs its own strategy. Although the tactics for each might be different, they should complement each other. Understanding how sales and revenue are related and how to balance your need to increase both helps you market efficiently and optimize your profits. What is Revenue? The income generating from the sale of goods or services, or any other use of capital or assets. Associated with the main operations of an organization before any costs or expenses are deducted. Revenue is shown usually as the top item in an income (profit and loss) statement from which all charges, costs, and expenses are subtracted to arrive at net income. Also call sales, or (in the UK) turnover.

    Increase the number of new customers

    After the corporate retreat, the employees will have a wider global perspective and confidence in dealing with people from different cultures and countries. With this values learn, the employees are able to increase the number of new customers. By increasing the number of new customers the organization is the most direct approach to increase the revenue of the organization. With a wider perspective, the employees are able to look into more opportunities and have a larger target market.

    When the target market is enlarged the employees are equipped with the confidence in dealing with people from different cultures and countries. Which make the have better opportunities to capture the market. Also, the organization is able to increase the market share due to the huge diversity of the target market. As a result, they can be the market leader in the industry as they are able to capture the most diversity of customers.

    Increase the value of each sale made to customers

    The communication and influencing skills gain after the corporate retreat are able to help an organization to increase. The revenue by increasing the value of each sale made to customers. It means that the employees will have the power to communicate. Influence and persuade the customer to increase the value of each purchase. For example, if the customers normally purchase 500 units. The employees can persuade and influence the customers to increase the value of each purchase to 800 units. The employee might come out with packages to convince the customer to purchase more. Therefore, the employees can apply the innovation and creativity skill to design valuable packages to generate more revenue for the organization.

    Increase the number of times that customers buy from you

    Besides, corporate retreat trained employees in building and maintaining relationships. Through this skill, the employees are able to utilize this skill to generate more revenue. By building and maintaining a good relationship can increase the number of times that customers buy from you. The employees are should keep in touch with the customers so that the customers will do purchasing more frequent with you. For example, many organizations such as Hotels and Airlines which come out with loyalty cards. Where have a lot of strategies to increase the number of times you visit? There are various ways to build and maintain relationships with the customers such as e-mail, mail, text messaging, phone call and point and benefit given to attract the customers visit them often. Hence, innovation and creativity play important roles in developing strategies for building and maintaining relationships.

    Decreases in Cost

    What is Low-Cost? A type of pricing method where a business sets a comparatively low price in order to enhance the demand for its product among consumers, as well as its competitive position in the market. A low-cost pricing strategy is an alternative marketing approach that a business can use as an alternative to differentiation and focus pricing strategies, and it tends to be most successful when the product is fairly generic and high volume production is possible. Also, call a low price strategy.

    Employee feedback for cost reduction

    After the corporate retreat, the employee will motivate. So this will be the best time to get their contribution to the company. The managers can get feedbacks through personal interview, daily communication or improvement box. The reasons the managers should get feedback’s from the employees because employees have a direct relation to the work process and have more experience regarding the daily operations of the company. On the other hand, managers make cost reduction decisions based on theories such as studies, reports, and charts. But, the company has to start using feedback’s given by the employees so that they will contribute more as they feel they are part of the solution. Besides, rewarding them is very important to encourage feedback.

    Decrease in Turnover Rate

    The main key to decrease the turnover rate is through job satisfaction. The satisfied employees will show positive attitude and morale during the job. In order to create job satisfaction, the organization should fulfill the employees’ needs. Hence, after the corporate retreat, the employee’s relationships built or maintain, communication & influencing skills are enhanced and more towards team focus. Therefore, the employees will have job satisfaction as the company fulfilled the social need of the employees.

    According to the Maslow’s hierarchy of Needs Theory of Motivation, human beings have a social need. Moreover, the employees will more loyal to the company as they feel the sense of belonging. This is because they are given attention, opportunities, and recognition in the company. According to Maslow’s hierarchy, this fulfills their self-esteem need. Besides, according to the Herzberg’s Two Factor Theory of Motivation, it wills the motivators factor for the employees which will create satisfaction. As a result of job satisfaction through the skills develop from the corporate retreat which fulfilling the need for employees, the organization will able to reduce the turnover rate in the organization. How to Get Benefits of Corporate Retreats in Organizations?

    The Importance Benefits of Corporate Retreats in Business - ilearnlot

    Reference

    1. Importance Benefits of Corporate Retreats – //www.mbaknol.com/modern-management-concepts/benefits-of-corporate-retreats/
    2. What is Revenue? – //www.businessdictionary.com/definition/revenue.html
    3. What is Low-Cost? – //www.businessdictionary.com/definition/low-cost.html
    4. Photo Credit URL – //www.yourworldwithcreflo.com/wp-content/uploads/2015/01/bigstock-Group-Of-Friends-Having-Fun-To-58863764.jpg

  • How to Get Benefits of Corporate Retreats in Organizations?

    How to Get Benefits of Corporate Retreats in Organizations?

    Here are Following Tips Get Benefits of Corporate Retreats in Organizations!

    Corporate retreats can be of any type, such as a sports retreat, or a seminar-style retreat. They are to promote a feeling of teamwork and to build a better understanding among company employees. Corporate retreats can also help employees gain some problem-solving skills that lead to better teamwork and better overall productivity. These team-building activities focus on events where everyone has to work together to reach a common goal. New Roles of Human Resource Management in Business Development. The study of learning, Benefits of Corporate Retreats in Organizations.

    The examples are river rafting, rock climbing, mountain climbing, everyone hiking blindfolded while holding on the same rope, team scavenger hunts, friendly competitions between company departments, etc. Corporate retreats can be customized to fit the company’s need. They can make the employees learn about what the temporary retreat goals are, as well as the long-term results that the company is striving for.

    Why can corporate retreats increase productivity? This is because organizations can derive some valuable skills from corporate retreats. These skills include team spirit, problem-solving, leadership, innovation, and creativity.

    Team Spirit

    Corporate retreats promote a feeling of teamwork among company employees. For example, a company organized a corporate retreat where the employees had to build a bridge out of boxes and unstable wooden planks. The employees are working towards a common goal which is building a bridge. This will get them to see the power of acting as a team. They will be able to understand success in each activity depends more on teamwork than individual effort. Under the pressure of reaching a difficult goal, each individual undergoes rapid growth. This growth occurs in group efforts then enhancing the relationships between employees. Employees become connected with shared experience. They share the commitment and help from one another. Trust can also build through corporate retreats.

    Problem-solving

    The second skill gain from corporate retreats is about problem-solving. Take rock climbing as the example. Rock-climbing is a problem-solving in the vertical world. We can see varying degrees of linear thinking skills, pre-planning skills, impulsivity vs. thoughtfulness, decision-making skills, focus and concentration, frustration, tolerance, self-confidence vs. insecurity, introversion vs. extroversion, emotional lability, risk-taking vs. caution, and the list goes on. Rock climbing offers the added mental element of continuous problem-solving in the midst of a physical workout. The climbers attempt to ascend a select route without falling. Through rock climbing, they can train on those skills.

    Leadership

    Through corporate retreats like mountain climbing, rock climbing, river rafting, etc. individuals gain an awareness of faith in their own ability to lead and follow. They have opportunities to test their ability in critical group decision-making and thereby become more confident leaders. Besides, team building events often allow people who are not usually in charge at work to take the reins and direct their teams. This can not only help them work on their leadership skills but also give them a better understanding of what it means to be a leader. The result of this is that they can have a better understanding of their superior’s working situations. They can also aid communication channels within the workforce.

    Innovation and Creativity

    Another skill derives from the corporate retreat is innovation and creativity. Employees are more able to think out of the box outside the working environment. In outdoor settings, they are taken out of their ‘comfort zone’ and immerse in a changing environment. By handling new circumstances, the team learns to turn problems into opportunities for success. Each challenge mastered is a satisfying achievement that prepares them for even more opportunities. Besides, some team-building activities may require innovation and creativity. Like the previous example, company’s corporate retreat is about building a bridge out of boxes and unstable wooden planks. In this case, in order to build a better and safer bridge with those limited resources, the employees need to innovative and creative.

    Other Good Tips also Better, Benefits of Corporate Retreats

    There are only two sides to a corporate retreat. It is either loved by employees or hated by them. But nevertheless, corporates retreats have a lot of different advantages to offer. Corporate retreats should handle in such a way that they are loved by everyone. Not only executives or big leagues, but also other employees should keep in mind while planning an office retreat. Office retreats have a lot of benefits, which will we discuss in this article.

    Interaction

    One of the major benefits of corporate retreats is team building. People may work together for years in an organization. But as soon as they go on an offsite retreat to have sun fun, new and everlasting bonds are built. It is a known fact that people tend to be their true self when they are relieved from pressure. Corporate retreats help remove this pressure and let a person open up. Every employee of an organization is considered to the same on an office retreat. There is no bias or preferences towards anyone. This makes a person feel important and he is easily able to get connect and interact with others.

    Rewards

    Corporate retreats are a good way to reward your employees. An informal announcement of a bonus or an incentive may come as a lovely surprise. Moreover, it will do wonders when the employees would already light head and in a fun mood. On corporate retreats, management can show their gratitude and appreciation towards their employees through many recreational activities which maybe follow with presents.

    Goals and Objectives

    During office hours, people are not as focus as they are on a retreat. They are their true self and can give great ideas. Moreover, due to bonding and relationships which are built on a retreat, people move in the same direction and start working to achieve the same goals and objectives. This is because, after a retreat, not only business relationships but also personal feelings come into play while working in an office.

    Recruitment

    Executives and HR managers also use corporate retreats as a chance to hire and recruit professionals. Corporate recruits give them a chance to learn more about the people they are thinking about hiring for the organization. As mentioned earlier, a person is his true self during a retreat. Due to this, HR managers are able to study their behavior and relationship or rapport with other employees of the organization. This will give them an idea if the newly appointed employees will be able to work in the office environment or not.

    Skill building

    Besides team building, skills building is another important advantage of corporate retreats. Office retreats make sure that employees are able to build skills as well as know how to perform in a team. It does not matter if you have a low budget. A short retreat in a local area will help you as much as an expensive retreat. Just make sure that you include educational as well as creative recreational activities.

    Corporate retreats have the negative side too. Burger King’s corporate retreat in 2001 is a failure. A dozen Burger Kings employees burn themselves while participating in a fire walk-a team building exercise that requires teammates to walk barefoot across an 8-foot pit of burning-hot coals. The results were injuring employees and some very negative publicity for Burger Kings. The concept of this corporate retreat was that when the employees experience humiliation together, they will feel bonded. In fact, organizations should steer away from ridiculous physical challenges, and then they can get benefits from corporate retreats.

    How to Get Benefits of Corporate Retreats in Organizations - ilearnlot

    Reference

    1. Benefits of Corporate Retreats in Organizations – //www.mbaknol.com/modern-management-concepts/benefits-of-corporate-retreats/
    2. Others Benefits of Corporate Retreats – //www.business2community.com/human-resources/what-are-the-various-benefits-of-corporate-retreats-0279236
    3. Photo Credit URL – //www.doorwaysarizona.com/wp-content/uploads/2015/01/bigstock-Group-Of-Friends-Having-Fun-To-58863776.jpg

  • Why Small Business needs Corporate Retreats Good for Productivity?

    Why Small Business needs Corporate Retreats Good for Productivity?

    Small Business needs Corporate Retreats Good for Productivity with Make a Comeback!

    Small business owners can improve productivity by investing in a company retreat. Simply getting away from the stressful atmosphere of the workplace can do a world of good. Your employees can work only so hard before cracking. A company retreat allows them to regroup and rediscover their passion for their work. When they return, their stress levels will be lower, meaning they’ll have the energy to work as hard as necessary without sacrificing quality.

    Cooperation

    Retreats that include team activities build camaraderie, training you and your workers to identify and incorporate the personal strengths of individuals to achieve group goals. The cooperative skills gained at a retreat will improve the performance of your workforce by showing employees how to work together effectively. As the owner, you might feel separated from your employees and find it hard to fit in during group activities. Hiring an outside facilitator instead of running the show yourself allows you to participate on the level of your employees, according to the book “201 Great Ideas for Your Small Business,” by Jane Applegate.

    Improve Morale

    Low morale hurts productivity, making workers sluggish. Often, low morale is a problem of perspective. For example, after putting in long hours to complete a difficult project, your employees might have forgotten the more pleasant aspects of their jobs. Company retreats remove workers from their typical contexts, revitalizing them and inspiring them to take pride in their work again. How Do You Know Your Company Wants Help From The Outside?

    Fun

    When your employees stop having fun at work, they are more likely to leave, so a company retreat can improve staff retention, according to “Rejuvenile: Kickball, Cartoons, Cupcakes and the Reinvention of the American Grown-up,” by Christopher Noxon. Having fun also stimulates creative thinking, which can improve productivity.

    Communication

    When workers relax, they communicate better, both with you and each other. Opening lines of communication build connections, spurring conversations that might not have happened otherwise, allowing employees to gain new perspectives on the business.

    Considerations

    Some company retreats have an agenda in addition to relaxation. For example, the relaxed atmosphere of a company retreat can foster effective brainstorming sessions for new company strategies. The key is to define a reasonable agenda that doesn’t overload the employees with work during the retreat. After all, the goal is to stimulate future productivity by helping your employees reconnect and relax. Asking them to do too much will decrease the retreat’s beneficial effects.

    [amazon_link asins=’B01FGJ76R4,0470919663,0874172306,B01A9EN6T8,B01LZ6ED2I,1517711916′ template=’ilearnlot-ProductCarousel’ store=’ilearnlot-20′ marketplace=’US’ link_id=’f114f1a1-fe11-11e7-9262-25876cfa1169′]

    Corporate Retreats Need to Make a Comeback

    Instead, corporate retreats have transformed to perform a vital service for businesses. That ultimately generates more revenue without the wastefulness of past generations. Here’s why your business needs to budget for a corporate retreat in 2014.

    It Builds Morale

    Like spending vacation time, going on a corporate retreat allows. Your employees to renew their enthusiasm and excitement for work.

    If your company prefers sunnier climates, a beachside retreat could provide the dose of Vitamin-D your employees need to recharge. Or, if a wilderness corporate retreat sounds more enticing, you and your employees can hold your retreat while admiring the great outdoors. It’s been found that connecting with nature can improve the work performance of your employees.

    Mark Duvall of Old Man’s Cave Chalets is an advocate of such retreats:

    “We see a lot of repeat business from our corporate clients. Getting away from the office and computers allows them to connect with one another and focus on high-level strategy, without the usual distractions.”

    No matter where you go, the time away from the office will make your employees more excited and productive after returning to work.

    It Genuinely Forges Bonds Between Your Employees

    Your company may spend time trying to encourage your employees to build relationships with the office, but this often results in some common workplace challenges.

    Attempts to make your employees be friends often feels inauthentic, and can actually damage your business. Plus, if your office has difficult employees, the efforts spent managing them can place. An expensive strain on company time and financial resources. There may also be very little your employees have in common with each other (other than who processes their direct deposits), limiting their incentive to build relationships.

    When you spend time at the corporate retreat, however, your employees will participate in common activities they can talk about when normal work life resumes. This allows them to genuinely get to know each other better and develop authentic friendships based on shared experiences. This new found common ground will also increase their attachment to your company as an organization, decreasing expensive turnover rates.

    It Provides Valuable Training

    A highly-skilled team of employers means your business will run more efficiently and need less constant supervision from management. The retreat environment is the perfect place to develop creativity, teamwork, problem-solving and other valuable skills that result in increased productivity (and profits) for your company.

    Plus, skill building. You can use the skill building training at retreats as a way to focus in-office training efforts throughout the year, or until the next retreat (that is, as long as your retreat includes more productive activities than three-legged races).

    It Can Lure New Talent To The Team

    Trying to court new employees, especially ones in high demand, takes more than a few free lunches. Inviting a prospective hire to your company’s retreat can quickly integrate her or him into your corporate culture. Show off your company’s assets in an environment that highlights company strengths and make choosing your company the natural decision. It also decreases the amount of time needed to help the new employee feel part of your team. Allowing them to begin effective work sooner.

    To begin planning your corporate retreat, begin planning your budget and choosing one of the many attractive retreats along the country. Your corporate retreats don’t need to be the pinnacle of luxury retreats to be a smart investment for your company. 201 Great Ideas for Your Small Business.

    Small Business needs Corporate Retreats Good for Productivity with Make a Comeback - ilearnlot

    Reference

    1. Are Company Retreats Good for Productivity – //smallbusiness.chron.com/company-retreats-good-productivity-37136.html
    2. Corporate Retreats Need to Make a Comeback – //www.huffingtonpost.com/john-rampton/why-corporate-retreats-ne_b_4374384.html
    3. Photo Credit URL – //community.mystar12.com/wp-content/uploads/2015/02/People-Group-2.jpeg

  • What is Customer Relationship Management? with Video Clip

    What is Customer Relationship Management? with Video Clip

    What is Customer Relationship Management (CRM)? It is an approach to managing a company’s interaction with current and potential customers. It uses data analysis about customers’ history with a company and to improve business relationships with customers. Specifically focusing on customer retention and ultimately driving sales growth. Positive Relationships with Individual and Organization Outside. So, what is the question going to learn; What is CRM? with Video Clip.

    Here are explain; What is Customer Relationship Management (CRM)? with a video clip for a better Understand.

    One important aspect of the CRM approach is the systems of CRM that compile data from a range of different communication channels. Including a company’s website, telephone, email, live chat, marketing materials, and more recently, social media. Through the CRM approach and the systems used to facilitate it, businesses learn more about their target audiences. How to best cater to their needs. However, adopting the CRM approach may also occasionally lead to favoritism within an audience of consumers. Resulting in dissatisfaction among customers and defeating the purpose of CRM.

    Customer relationship management (CRM) is a term that refers to practices, strategies, and technologies. That companies use to manage and analyze customer interactions and data throughout the customer life-cycle. To improve business relationships with customers, assisting in customer retention, and driving sales growth. Also, CRM systems are designed to compile information on customers across different channels or points of contact between the customer and the company. Which could include the company’s website, telephone, live chat, direct mail, marketing materials, and social media? CRM systems can also give customer-facing staff detailed information on customers’ personal information, purchase history, buying preferences, and concerns.

    Objectives of CRM

    Customer Relationship Management (CRM) as the name suggests the primary focal point is placed on the customer. The key objective is to increase customer value over time by increasing customer loyalty. If a company develops better customer relationships, it also improves business processes as well as its profits. In general, CRM is a more efficient automated method use to connect and improve. All areas of the business to focus on creating strong customer relationships. Also, All forces are coupled together to save, improve, and acquire greater business to customer relationships. The most common areas of business that are positively affected include marketing, sales, and customer service strategies.

    Customer Relationship Management (CRM) helps create time efficiency and savings on both sides of the business spectrum. Through correct implementation and use of CRM solutions, companies gain a better understanding of their strongest and weakest areas and how they can improve upon these. Therefore, customers gain better products and services from their businesses of choice. To achieve better insight into CRM, it is essential to consider all of its components.

    Strategy and Solutions of CRM

    Customer relationship management (CRM) is a business strategy that spans your entire organization from the front office to the back-office. It is a commitment you make to put customers at the heart of your enterprise. Also, The right CRM strategy and solutions can help you securely, reliably, and consistently:

    • Delight your customers every time they interact with your business by empowering them with any time, anywhere, and any channel access to accurate information and more personalized service.
    • Reach more customers more effectively, increase customer retention and boost customer loyalty by leveraging opportunities to up-sell and cross-sell and driving repeat business at a lower cost.
    • Drive improvements in business performance by providing your customers with the ability to access more information through self-service and assisted-service capabilities when it is convenient for them.
    • Enable virtualization in your enterprise as more of your people and resources extend beyond your offices and around the world.
    • Balance sophisticated functionality with rapid implementation and effective support for a faster return on your CRM investment.

    Present Day of CRM:

    Today’s customers face a growing range of choices in the products and services they can buy. Also, They base their choices on their perception of quality, value, and service. Each consumer has specific behavior. But buying habits are sometimes difficult to understand. Therefore companies always want to gain some insight into consumer behavior and habits to better control this behavior. Having an impact on consumer behavior means being able to change consumer’s perception of the product or service, to establish a relation between the company and its clients.

    Another concept that is closely related to CRM is Customer Relationship Marketing. Which is a practice that encompasses all marketing activities direct toward establishing, developing, and maintaining successful customer relationships? Also, The focus of relationship marketing is on developing long-term relationships and improving corporate performance through customer loyalty and customer retention.

    What is ‘Customer Relationship Management – CRM’:

    Customer relationship management (CRM) refers to the principles, practices, and guidelines that an organization follows when interacting with its customers. From the organization’s point of view, this entire relationship encompasses direct interactions with customers, such as sales and service-related processes, and forecasting and analysis of customer trends and behaviors. Ultimately, CRM serves to enhance the customer’s overall experience.

    With the growth of the Internet and related technologies. Customers are concerned about the privacy and safety of their personal information. Therefore, businesses need to ensure the storage and analysis of their customer data have the highest levels of protection against cybercriminals, identity theft, and other breaches of security.

    BREAKING DOWN ‘Customer Relationship Management – CRM’:

    Elements of CRM range from a company’s website and emails to mass mailings and telephone calls. Also, Social media represents one-way companies adapt to trends that benefit their bottom line. The entire point of CRM is to build positive experiences with customers to keep them coming back so a company creates a growing base of returning customers.

    Software:

    Special CRM software aggregates customer information in one place to give businesses easy access to data. Such as contact data, purchase history, and any previous contact with customer service representatives. This data helps employees interact with clients, anticipate customer needs. Recognize customer updates and track performance goals when it comes to sales. Also, CRM software’s main purpose is to make interactions more efficient and productive. Automated procedures within a CRM module include sending a sales team marketing materials based on a customer’s selection of a product or service. Programs also assess a customer’s needs to reduce the time it takes to fulfill a request.

    Cloud Solutions:

    Cloud-based systems provide real-time data to sales agents at the office and in the field as long as a computer, smartphone, laptop or tablet connects to the Internet. The convenience of this type of system has a trade-off. If the company goes out of business or faces acquisition, access to customer information may become compromised. A business might have compatibility issues when and if it migrates to a different vendor for this kind of software. Typically, cloud-based CRM programs cost more than in-house programs. Every Leader has to need Social Media Skills with Qualities.

    Management:

    All of the computer software in the world to help with CRM means nothing without proper management and decision-making from humans. Plus, the best programs organize data in a way that humans can interpret readily and use to their advantage. For successful CRM, companies must learn to discern useful information and superfluous data and weed out any duplicate and incomplete records that may give employees inaccurate information about customers.

    What is CRM Customer Relationship Management
    What is Customer Relationship Management? with Video Clip
  • How Do You Know Your Company Wants Help From The Outside?

    How Do You Know Your Company Wants Help From The Outside?

    How Do You Know Your Company Wants Help From The Outside?

    When Your Company Should Seek Help From The Outside! There’s no reason you should do it all. Everyone needs help once in a while. Days are jam packed with meetings and checking off to-do lists. That leaves little time to nurture your business and employees. There’s no shame in working with a person on the outside to help you grow your business. Be The Change You Want to See in The World.

    Do yourself a favor and stop doing it all alone. Work in teams and build partnerships outside your company to stay ahead of the curve. Don’t sell yourself short just because your schedule is busy. Find ways to work around it and still succeed. See times when your company should seek help from the outside.

    Marketing

    Marketing is a large undertaking. There are various forms of marketing that exist and need to be addressed. This takes a lot of resources and knowledge to do it right. Digital marketing is involved and to complete it right you have to know what you’re doing. Advertising online and on social media is complicated and takes careful planning and execution. Don’t be afraid to search for outside agencies to help you achieve your goals. They’re the experts, and it’ll be helpful to have an agency take some work off of your employee’s plates. New Roles of Human Resource Management in Business Development.

    Definition: Marketing is defined by the American Marketing Association as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”

    Technology

    You don’t have to try and learn about technology if it doesn’t interest you. Educate yourself, but leave the rest up to the professionals who know what they’re doing. There’ll be times your computer crashes, or you need them for e-forensics to collect and analyze data. There’s a continuous list of reasons why it’s good to have IT experts on your side. You don’t want to risk losing data or files and having to start all over again on your assignments. You don’t have to know it all, but you do have to know when it’s time to call and get help. 

    Technology is the collection of techniques, skills, methods, and processes used in the production of goods or services or in the accomplishment of objectives, such as scientific investigation.

    Motivation

    There are times when business is slow, and your team is feeling down. This is exactly when you need to bring back the energy to your group. Hire a motivational speaker or host a fun activity in the office. Do Good Always! If spirits are low, it’s leadership’s job to get the team feeling good again and inspired to do their work. Throw some excitement their way and let them know you’re willing to do whatever it takes to make them feel happy to be at the office.

    “Motivation is the reason for people’s actions, desires, and needs. Motivation is also one’s direction to behavior, or what causes a person to want to repeat a behavior. A motive is what prompts the person to act in a certain way, or at least develop an inclination for specific behavior.”

    Consulting

    There are times a business falls into a rut and can’t crawl their way out. This is when you should check into hiring an outside consultant to help you brainstorm and innovate. They know how to work with businesses and bring them up to a higher level of functioning. They’ll work with you and pick your brain to create better ways of doing business and working with your customers. If nothing else, use them to bounce ideas off of each other and reinvent yourself.

    “Management consulting is the practice of helping organizations to improve their performance, operating primarily through the analysis of existing organizational problems and the development of plans for improvement.”

    Conclusion

    A business can’t always do it all themselves. Be Your Extraordinary Self! It’s smart to build new relationships and not put the weight of the company on your shoulders. These are those times when your company will need help from the outside world.

    How-Do-You-Know-Your-Company-Wants-Help-From-The-Outside

  • How To Make Your Small Business Stand Out? Many Ways You Can Try IT!

    How To Make Your Small Business Stand Out? Many Ways You Can Try IT!

    How To Make Your Small Business Stand Out? Many Ways You Can Try IT!

    There are many small businesses out there, but they’re not all the same. It’s important to distinguish yourself from the competition right away. Avoid getting clumped together with all the other guys. You have the power to communicate your uniqueness. Do You Really Want to your Own a Business? How to Make Start Up Your Small Business Stand Out.

    Doing nothing will only keep you invisible. You have to take action and constantly be brainstorming ways to offer a distinctive edge. You have to want to be the best to get to that level. Unfortunately, there are no shortcuts, but there are techniques that’ll get you to where you want to go. See how to make your small business stand out.

    What marketing method is more effective than direct mail, web sites, referrals, or publicity? It’s differentiation from your competition. Use these tips to figure out what your competitive advantage is.

    Quite often small business owners will ask me to reveal the most powerful marketing strategy I have seen. I can say without hesitation that the most powerful marketing strategy has little to do with advertising, direct mail, web sites, referrals or Blogs.

    No, before any of those things will really have any impact on your business you’ve got to uncover and communicate a way in which your business is different from every other business that says they do what you do. You’ve got to get out of the commodity business. You’ve got to stake your claim on a simple idea or position in the mind of your prospective clients.

    Here’s what I mean. I have a client that provides custom computer programming. Essentially, they use programming languages to build custom applications for businesses. What they do is often hard to explain and even harder to put a price on, making it difficult for a prospective client to compare different companies. As a way to differentiate their business, they have begun to offer something they call Perfect Coaching. Perfect Coaching is a unique blend of training and programming and, here’s the key, no one else in their business is offering anything like it. Prospects like the sound of it and are asking to know more. It’s too early to tell but I suspect this point of difference will open a lot of doors for them.

    Five Best Ways to differentiate

    Let’s look at a number of tried and true ways to claim a unique point of difference. By mbaknol.

    Business Cards

    One way to differentiate yourself is with your business cards. Go online and choose or create a business card design that fits the look of the company. Craft or reinvent your brand with a free business card maker and start showing off who you are to customers. Personalize the card and choose a theme, images and text that create a custom business identity. This may seem like a small adjustment, but a business card has the ability to close business deals and make new connections.

    Volunteer Locally

    Get involved with your community. Show your face in public and meet new people. Volunteering with local organizations is a great way to give back and tell others about your business. Make it part of your routine and get around to different areas and groups. Volunteering feels good and it’s an activity outside of your normal daily tasks. Get to know people in your community and you may find you have a lot in common with them. You never know when a new connection will lead to a sale. While it’s not your objective of volunteering, it certainly would be nice.

    Clean & Organized Office

    Clients will be coming in and out of your office. Put effort into cleaning and organizing your office so it’s presentable. Have refreshments and a waiting area for customers if they arrive early. Show them you care about their business by keeping a tidy space. These are little gestures that make a big difference. Have your clients leaving feeling well taken care of and satisfied with the service.

    Communicate & Demonstrate your Benefits

    Make sure your business stands out by communicating and demonstrating your value to the public. Have it on your website, in your office pamphlets and announce it during speaking engagements. Tell people when you see them in person who you are and why you’re better than the rest. Show the benefits of working with you by offering unparalleled customer service.

    Start A Blog

    Demonstrate your thought leadership by starting a blog. Post information that’s important to your clients and potential customers. Keep it current and share content that’s worth reading. How to Identify a Good Website Designer? A blog is a great resource for your customers and allows you to stay on top of your game with your industry knowledge.

    Another Best 10 Ways to Make Your Business Stand Out!

    Let’s look at a number of tried and true ways to claim a unique point of difference. By businessknowhow.

    Product

    Can you offer a product that is so unique or even trendy that your business is associated with that offering? Or, can you extend a product and offer a valuable service to make the product more useful to the customer.

    Service

    Same goes for a service. Many times this can be the packaging of a service as a product. Consulting is often delivered on an hourly basis. Packaging a consulting engagement based on an outcome, with defined deliverables and fixed package price is a very effective way to differentiate a service offering. Don’t forget to give the service a powerful name!

    Market Niche

    Carve out an industry or two and become the most dominant player serving that industry. A really nice bonus to this approach is you can usually raise your prices dramatically when you specialize in this manner.

    Offer

    Can you become known by an offer you make? I know an accountant that offer his tax preparation clients a 100% refund on their preparation fee when they refer four new clients. They are the 100% refund tax guys.

    Solve a Problem

    Is there something that prospects in your market fear or seem to believe is universal for what you do? If so, focus on communicating how you have the answer. Painless dentistry for example. I know a remodeling contractor who found that what his clients appreciated the most was the way his crews cleaned up at the end of the day. He began to promote the fact that he owned more ShopVacs then any other remodeling contractor on the planet.

    Message of Value

    Many times there are things that you do that don’t get communicated. Extra that you provide or services you think should be included. Your positioning might just rest in more effectively communicating what you do. I know an office furniture dealer that has adopted the message – We Make Your Business More Valuable – to communicate all the things they bring to the party. Now, everything they do is focused on delivering on that statement. Everyone else in the industry sells furniture.

    Unique habit

    I know a financial planner who has his client’s car detailed right out in his parking lot when they come in for their annual review. They can’t help but rave to their friends about this unique touch.

    Guarantee

    Can you offer a guarantee so strong that no one else in your industry would dream of doing it. This one frightens some people but, you probably guarantee your work anyway, you just don’t say so. Come out and boldly announce that you guarantee results and watch what happens!

    Customer Service

    Everyone knows the story of over the top customer service provided by Nordstrom’s. Create your own over the top customer response system and word of mouth advertising will flow liberally. One of the greatest ways to kick this off is to over deliver on your first customer contact. Give them something more than you promised, give them a gift, give them a related service for free.

    Against the competition

    Many times you can create your category niche by looking for holes in the offerings of your competitors. If every one in industry fails to address a certain problem, boldly grab on to solving that problem and use your competition as the point of difference.

    Clues to uncovering your difference

    Look at your current clients. What common elements exist among your best clients? Interview your clients. See if they can tell you why they chose to work with, why they stay, why they refer? Study your competitors more closely. What do they do that you could do better, what don’t they offer they you could, how do they position themselves?

    Communicate the difference

    Once you find your chosen strategy or combination of strategies to differentiate your business, all of your advertising and promotion should be centered around shouting about that difference.

    Commit to it, stay at it and resist the temptation to wander off in the next new direction. Building a brand, and that’s what I’m talking about, takes time and patience. The payoff, however, is what differentiates the winners from the losers in this big marketing game. 201 Great Ideas for Your Small Business.

    Conclusion

    Competition is fierce these days. It’s difficult to make a name for yourself when there are so many other companies out there. This is how to make your small business stand out.

    How-To-Make-Your-Small-Business-Stand-Out-Many-Ways-You-Can-Try-IT