All posts by admin

7 Steps Effective Strategic Planning Process

[ad_1]

This TQM article provides an insight of a typical Strategic Planning Process that was used in several organizations and proven to be very practical in implementation. the key processes of this typical Strategic Planning Process are lined up into 7 steps. Detail of each steps are illustrated below:-

Step 1 – Review or develop Vision & Mission

Able to obtain first hand information from various stakeholders (Shareholders, customers, employee, suppliers communities etc).

You may use templates to evaluate how the stakeholders think about your organization. To find out whether their action are aligned with the organization’s objectives.

To review or develop company’s Vision and Mission with the involvement of other stakeholders to ensure it is still current with the business changes and new challenges. Also use this session as a mean for communication.

Step 2 – Business and operation analysis (SWOT Analysis etc)

One of the key consideration of strategic planning is to understand internal (own organization) Strengths and Weaknesses as well as external Threats and Opportunities. These are commonly known as the four factors of a S.W.O.T. analysis.

Involvement from various stakeholders to provide their points of view about your organization is key. In the process, you will gain better buy-in from these implementers of strategies and policies.

Step 3 – Develop and Select Strategic Options

You may use templates to develop several key possible strategies to address the organization’s objectives. More important, these possible strategies are develop based on the inputs from stakeholders (step 1) and Business and Operation analysis (step 2).

It is often several possible strategies are developed and everyone of them seems important. Since it is quite normal that an organization would have several key issues to tackle, you will be able to use a proper tools to select a few from the possible strategies. You will b e able to apply several prioritizing tools as introduced in this step.

Step 4 – Establish Strategic Objectives

During this step, you will be able to view the overall picture about the organization and able to select a few strategic options objectively. Template may be used to understand various strategic options, set key measures and broad time line to ensure the selected strategic options are achieved.

While it is quite common that measures and timeline is given by top management, it is the intention of this step 4 that these measures and timeline is SMART . What it meant was Specific (S), Measurable (M), Achievable (A), Realistic (R) and Time-bound (T). when the strategic options are SMART, it will help to ease the communication toward the lower level of the organizational hierarchy for implementation.

Step 5 – Strategy Execution Plan

Many organization failed to realize its full potential of its strategies are due to weak implementation. In this Step 5, a proper deployment plan is developed to implement these strategies.

Step 6 – Establish Resource Allocation

Very often, management team assigned selected strategies to key personnel and left it to the individual to carry out the task. While most organizations operate with minimum resources, it often ends up work overloaded by individual.

Step 7 – Execution Review

One of the key success factors for an effective strategy deployment is constant review of its progress and make decision for any deviations to plan. It is vital to decide what to review and with who the review is done. New decision may be required as the status of the strategies progressed.

In summary: Follow this 7-steps in Strategic Planning will ensure various options are considered including its execution, resource allocation d and Execution Review. This 7-Steps form a complete cycle for new or existing Strategic Planning initiatives

[ad_2]

Strategic Management – Some Important Concepts

[ad_1]

Some of you may have seen articles that I have posted challenging those who would degrade the role and status of the terms manager and management. In those articles and comments I said I would post further articles on strategic management. This article is the first of, hopefully, a series of articles on strategy and strategic management.

This particular article describes some general concepts, drawing on insights from General Systems Theory that may be useful in strategy formulation and strategy implementation. I am not going to produce a list of activities that you must undertake to do strategy. I am not even going to recommend a method (I hate the term methodology incorrectly applied – methodology is the study of method!). Instead, this article concentrates on underlying concepts that will be useful to anyone with responsibilities for strategy formulation and strategy implementation in a business organisational context. These concepts are applicable to both commercial and not for profit organisations.

I shall use the definition of strategy and tactics given by M P Schutzenberger and his concepts of “flexibility” and “span of foresight” and show how these can be applied in strategic management and how these can be useful in supplementing your preferred strategy method.

M P Schutzenerger (“A tentative Classification of Goal Seeking Behaviour” – Psychology Review Vol.63 1956) defines a tactic as a means of choice which proceeds according to a criterion of optimality that is applied locally, stage by stage. He defines a strategy as a means of choice which takes into account the situation as a whole. In this paper he also defines two concepts; the span of foresight and flexibility. The span of foresight is how far you can make predictions ahead of time. Flexibility is how quickly your organisation can move from one plan to another plan.

Before we look at how these concepts may assist us in strategy formulation and implementation, it is worth exploring these concepts further.

Let us look at strategy and tactics. Suppose we have perfect foresight, then strategy is relatively easy. We look ahead with our perfect foresight and determine where we want to be. We then produce a plan that will drive the organisation towards this ideal position. In such a world, the tactical plans are a ‘drill-down’ of the strategic plan and everything dovetails neatly. Strategy implementation is just ensuring the organisation conforms to the overall strategic plan. Indeed, this is the assumptions made when we do ‘corporate plans’.

In normal business corporate planning, the Board and the CFO or FD produces a set of assumptions and each subunit produces a three year forecast that is aggregated. There is a a process (either negotiation or tell) that ensures that the plans are consistent resulting in a 3 year forecast of which the next year’s forecast becomes the operational budget against which performance is measured. Note, this method assumes that we can predict with some certainty at least twelve months ahead if not three years ahead.

Suppose we cannot predict with certainty that far ahead. What can we do? How can we do strategy in these circumstances? Well it turns out we can even if we cannot predict perfectly we can still do some strategic planning. If the environment is stochastic (this is a fancy mathematical term that means there are random elements) then Schutzenberger showed in such an environment, the optimal strategy is just the simple tactic of doing one’s best in the local situation. He illustrates this with an example.

Suppose a dog is running to meet its owner in some open ground. Most dogs would follow the line of sight to its owner. If its owner is walking in a straight line at a constant speed, the optimal path is not the path the dog would take but it can be determined by simple mathematics (basically a solution of two simultaneous equations). The optimal path is a straight line that intersects. Dogs don’t do maths so adopting the simple tactic of always running to its owner will get the goal it wants. However, if the owner is pacing backwards and forwards at random, it can be shown mathematically that the dog’s tactic of always running towards its owner is the optimal strategy. The tactic becomes the strategy.

In real life, there are many instances where we can’t predict precisely how things will work out but we can see an underlying structure with a random element. Examples would include sales, patients attending casualty, help desk calls etc., in a given period. In such circumstances our corporate planning tools can be used if we adopt flexible budgeting.

Let us now get back to the two other concepts; span of foresight and flexibility. Span of foresight is basically how far you can see ahead. If we include instances of stochastic environments, as defined above, it is a measure of how well we can forecast and predict, not only in sales but all other factors that may impact on our organisation. Most strategy methods require you to analyse environmental factors such as political, technological, legislative, societal, competitive etc factors to be considered in your strategic analysis. The span of foresight is basically how far you can look ahead with any confidence.

If you are in the music business, ten years ago, your span of foresight may well be several years. Ok, you may not be able to predict exactly which artist or band might make it but you could probably guess the size of the market and probably your market share. However, if you are in this industry now with internet downloads etc, your span of foresight may well be significantly less.

Flexibility is a similar time based measure. It is how quickly you can change your strategy. Your flexibility may be dependent on the flexibility your workforce, the contracts you have with your suppliers, your infrastructure (both technical and physical), even your methods of operation.

It does not take a rocket scientist to see that your flexibility should be shorter than your span of foresight yet how often have organisations failed to recognise this.

The British motor industry in 1950s and 1960s is a classic case. Production facilities had been consistently starved of investment and little investment was put into creating a flexible workforce. In those days where new models took years to create and product-lifecycles were relatively long, inflexibility was not recognised as a strategic issue. In contrast the Japanese motor industry invested significantly in flexible production (Kan-ban, QC, JIT etc) plus faster new product development resulting in their dominance in this sector.

Some organisations are running similar risks today. I have always asserted that management has some similarity to the fashion business. A new fad comes along. People adopt it regardless whether it is relevant to their organisation or not. In many instances, the new fad or fashions yield short-term financial benefits at the risk of compromising the organisations’ future flexibility. Yet rarely is this recognised.

In the 1980s, the deregulation in Financial Services allowed many insurance companies to innovate with new products. In many instances, the speed of innovation necessitated the introduction of packaged solutions that did not run on the organisations own IT infrastructure and created islands of independent IT outside the control of its in-house departments. This was fine while organisations wanted to view the world through a product perspective but in the last decade, organisations were moving towards a customer centric perspective and found great difficulty in implementing solutions because of the need to iron out inconsistent views of a single customer. In many instances, this lead to implementing ‘clunky’ data warehouse software just to get a unified view on what each customer bought off the organisation. Basically implementing product-based solution decreased the organisations flexibility when it came to implementing customer-wealth management.

Another area that could lead to compromising flexibility is that of outsourcing. Don’t get me wrong, I am a fan of outsourcing when it is the sensible thing to do as part of a coherent strategy. However, it can be a source of organisational inflexibility often obscured by the cost reduction business case. Outsource providers need a period of operation with some guarantee of obtaining a return on their investment. Hence they would tend to negotiate contracts that ‘locks-in’ an organisation for a certain period. Also, to make a return, they need to define clearly what service, what volumes and what service levels they have committed. Now, the tighter the contractual terms you negotiate with your outsource provider, the greater the potential inflexibility and the greater potential for higher costs to you as your supplier plays “the change control game” with you and your procurement department.

It is not only outsourcing that increases inflexibility. There would appear to be a heuristic relationship between the complexity of a situation and its impact on your flexibility. Using external resources through contract may save you effort in controlling the work but you take on added complexity in that you have externalised control and have to take on contract risks.

You may even believe that you have negotiated a great contract with your supplier where you have passed all risks to them at a favourable price. Two examples will illustrate what appear to be great deals when negotiated, but may not be so good in operation. The first is the construction project for The new Wembley Stadium undertaken by the English Football Association. It is now years late and even when it is delivered, there will be years of court cases with the contractor.

The second example of an external contract is the administration of the Congestion Charge in London. The Mayor’s office did a great job in negotiating a contract with Capita for the provision of the administration and technology to support the Congestion Charge in London. This contract pushed most of the risks to the supplier. After one year of operation, the traffic in the designated the area was significantly reduced, well below the assumptions made by Capita. Since they were paid on a percentage of the revenue collected, Capita was not making the expected returns. The Mayor’s Office had to make an ex-gratia payment of about £30M to its supplier to keep the contract going.

So when you are doing strategic thinking, try and be clear how far you can actually see ahead with any accuracy. This will be a good clue to your ‘span of foresight’. Also, look critically at your organisation and try and assess its flexibility. Basically, ask yourself how quickly you can execute a major change in strategy. This is an indication of your ‘flexibility’. Make sure your flexibility is less than your span of foresight.

To sum up, this article is revisiting the fundamentals of strategy formulation and implementation. It looks at business strategy from a General Systems perspective and has highlighted the difference between strategy and tactics. It has also highlighted the importance of two strategic concepts; an organisation’s “span of foresight” and an organisation’s “flexibility”. We have also seen how the normal business planning tools such as corporate planning is dependent on a ‘predictable’ type of environment.

Whether you are a leader or even a manager with strategy responsibilities, I would recommend using these concepts in your work. This should be used alongside your preferred strategy methods. I shall be publishing further articles on environment classifications following the work of Emery and Trist and propose way of looking at an organisations’ strategic stance base on some ideas of mine.

[ad_2]

Strategic Management

[ad_1]

Strategic management is the process of specifying an organization’s objectives, developing policies and plans to achieve these objectives, and allocating resources so as to implement the plans. It is the highest level of managerial activity. It is not a task, but a rather a set of managerial skills that ought to be exerted throughout the organization, in a wide array of functions.

An organization’s strategy must be appropriate for its resources, environmental circumstances, and core objectives. The process involves matching the company’s strategic advantages to the business environment the organization faces. One objective of an overall corporate strategy is to put the organization into a position to carry out its mission effectively and efficiently.

A good corporate strategy should integrate an organization’s goals, policies, and tactics into a cohesive whole, and must be based on business realities. Business enterprises can fail despite ‘excellent’ strategy because the world changes in a way they failed to understand. Strategy must connect with vision, purpose and likely future trends.

Strategic management can be seen as a combination of strategy formulation and strategy implementation, but strategy must be closely aligned with purpose.

Strategy formulation involves doing a situation analysis: both internal and external, both micro-environmental and macro-environmental; setting objectives–crafting vision statements (long term view of a possible future), mission statements (the role that the organization gives itself in society), overall corporate objectives (both financial and strategic), strategic business unit objectives (both financial and strategic), and tactical objectives; and planning. This three-step strategy formulation process is sometimes described as determining where you are now, determining where you want to go, and then determining how to get there. These are the essence of strategic planning.

Strategy implementation involves allocation of sufficient resources (financial, personnel, time, technology support); establishing a chain of command or some alternative structure (such as cross functional teams); assigning responsibility of specific tasks or processes to specific individuals or groups; managing the process–monitoring results, comparing to benchmarks and best practices, evaluating the efficacy and efficiency of the process, controlling for variances, and making adjustments to the process as necessary. When implementing specific programs, this involves acquiring the requisite resources, developing the process, training, process testing, documentation, and integration with legacy processes.

Strategy formulation and implementation is an on-going, never-ending, integrated process requiring continuous reassessment and reformation. Strategic management is dynamic. It involves a complex pattern of actions and reactions. It is partially planned and partially unplanned. Strategy is both planned and emergent, dynamic, and interactive.

For strategic management to be a success, organizations must not fail to follow the plan. They should be guided by the set of objectives that they have formulated, envisioning a prosperous business. They should strive to understand customers more thoroughly. Over-estimation of resource competence and under-estimation of time requirements should be avoided. Employee and senior management commitment should be obtained through keeping communication channels open and healthy. Most crucially, the management should acquire the ability to predict environmental reaction and manage change.

Copyright 2007 Ismael D. Tabije

[ad_2]

Strategic Management

[ad_1]

In strategic management, managers must know how the different parts of the organization and its environment fit together. It is crucial in understanding how they affects and influence each other.

To understand what is strategic management, we need to ask the following questions:-

How did our organization reach the situation it is today?

Why is it producing these particular products or services?

Why you are located here?

Why are you serving a particular part of the market place?

Why are you organized this way?

It boils down to decisions of course!

How these major (or strategic) decisions about products, location, structure and senior management appointments are made and how they are implemented can be defined as the process of strategic management.

Corporate planning process can be adhoc or opportunistic (less structured) approach for small firms; fashion clothing retailer. It is more logical and structured approach to making strategy for big MNCs like Glaxo, Philips, SIA etc.,

Who undertakes the strategic decisions or the corporate planning process?

CEO

Senior management team, Staff analysts (technical work)

Implementations by middle and junior managers.

Strategic Reviews and Scenario Planning on a quarterly or half yearly basis well facilitated by a professional facilitator and consultant brings about the best result in Organizational Change Development.

Organizations that do not plan strategically will ultimately lead to failure!

Don’t take it lightly if we are serious about our organizations survival and success.

PLAN, PLAN…PLAN!

If your organization needs such professional service, contact us

And we will be very glad to advise and serve you.

[ad_2]

New Business Ideas? How Cool Are These 5 New Killer Small Business Ideas?

[ad_1]

While doing research for my various book projects, I came across these brilliant new small business ideas that I thought you would get a kick out of:

1. Fair Trade Vending Machines

Fair Trade products are gaining momentum in normal grocery retail channels through coffee (close to 50% of coffee sales in Tesco in the UK apparently) and sugar so the next logical step is to offer Fair Trade products through vending machines – especially in socially conscious environments at first, such as colleges and universities. This actually gives people the physical means to do nifty stuff for our world rather than them just having the vague, unfulfilled desire to help.

Neat.

2. Self-Powering ‘Eco-Nightclub’

Tapping into the need for energy consciousness in all aspects of our lives, one London disco – Surya – harnesses piezoelectricity (whatever that is) by generating 60% of its energy needs from its dance floor when danced on. The green funkster responsible is 35-year-old property developer Andrew Charalambous who believes that his new baby is the world’s first ecological nightclub. The club’s slogan? “All you have to do is dance to save the world”.

Hard to argue with that.

3. Optical Illusion ‘Truckvertising’

While advertising on large trucks like ‘mobile billboards’ has been around for ages, creating clever, striking and engaging optical illusions with those advertising spaces has not. What a brilliant way to promote your new small business in your area or as a small business in itself. The trucks themselves also serve as ads for such a brilliant small business.

4. Wearable Airbag For Motorcyclists

The “D-Air System” is a part of a specialized motorcycle jacket that deploys in 40 milliseconds when it senses that the rider is falling. Such a technology seems likely to become mandatory for all motorcyclists to wear given the legal necessity of cars to have airbags since 1989 in the US. This looks like a classic case of a neat tech device potentially saving many lives.

Good job.

5. ‘Miss Army’ Knife – The Female ‘Swiss Army’ Knife – Get It? (a.k.a. Miss A Kit)

Designed for women, the Miss Army Knife, like its iconic male counterpart, features a range of tools in one utility device except for female use. Tools on the Miss Army Knife include tweezers, nail file, safety pin and corkscrew.

Brilliant name and product.

[ad_2]

Tek small business

[ad_1]

The attraction for people to buy a small business is obvious. The amount of small business marketing and the cost is small compared to the middle-market business.

People generally anxious to start their own small business, the level of financial input and time to put in a business can be far greater than imagined. At least 50% of these types of businesses fail with the majority not get passed the first 2 years. The odds are better for people to gain the franchise; However, it has to keep in mind to royalty payments of 10% must be met annually.

One of the many problems acquire a small business can be the asking price. Many small business owners are not sure how to properly valuate companies. . Using mythical formulas or “sweat equity” based on how much work has been put in is totally useless

To assess small business this is a good guide is;

retailers 30% of annual sale

services 60% of annual sales

Distribution company 35% of annual sales

production company, 50% of annual sales

course, these are accompanied by in fact, business value is only really worth what you are willing to pay for it. Other items are: cash, assets, growth potential and risk. The terms and conditions of the lease, state machines and how many workers are employed, list is really endless.

In short, before even contemplating acquiring a small business, you must understand that the failure rate is very high. Proper research, good timing and a good amount of luck should help your business being one of the success stories.

If you want more information on this topic please visit our website at www.businessservicesuk. com.com , we have a team of professionals who are well versed in the art of business recovery. Our website offers a range of Services including free business directory and Free Website Review service.

[ad_2]

Information System of small business

[ad_1]

According to the “18 Amazing Facts About Small Businesses in America” ​​by Aimee Groth and Kim Bhasin (Business Insider, August 24, 2011), there are 28 million small businesses in the US, more than the company in 1162 to 1. Some say it is very easy to take the trade in small businesses. However, since small businesses always run on a low budget but enormous marketing and planning and implementation will also require information in small businesses are usually not given enough attention. Today, even small business owners only need to run a lot of information that can not rely on manual processes. To help owners of small businesses “in making the right and quick decisions, they need to adjust to the right information for their business.

My uncle is a hair salon with five stylists. She does not work there, but it has manager to take care of the shop. She was very nice, soft ware to all the transactions in the first, but since it was so complicated when employees stopped and she had to hire new people. They just have a high rate of staff turnover in hair salons general. Plus the salon, she does not have a receptionist to business but each stylist has to do it with her / himself when checking out a customer. Low Budget keeps it from having someone who can do it and save time for stylists. Whenever the manager who train new employees to use the software is frustrated, my cousin decided to go back to manual recording. With all the data they put on paper, my uncle has to take it to the system at the end of the day. It is not only time consuming but also the risk of making mistakes which data was performed twice.

There is no need to discuss how useful information for companies. However, when considering transitional one for the small business owner needs to calculate all costs included. It may seem to be one-time costs, but it really is not. Small business computer system design begins with a need assessment of the technology spending that will be required to create an effective, reliable and expandable system. This needs to be evaluated will include hardware, software, upgrades and office staff training. Apparently, not upgrades and training do not sound like one-time costs. Upgrades will fix the cost of the supplier will take for you when you need one, typically for 3 months or 6 months to keep up with changes in technology. Training can be a one-time cost to the supplier when you buy a system, but then you still have to train new employees. Even if you train them yourself or have other staff to train them, it’s still a cost to your business of opportunity where time to train can be used to make income / profits for the company. Finally, there is one other cost that has not been considered yet: using cost. When you have to use the software, it is the cost of employing them to record information. Back to my cousin’s hair salon. She does not have enough money to hire one person to keep books, so she takes the risk of recording data wrongly. Mistakes can from their workers by placing incorrect data manually or from themselves by taking it back to the end of the day. It should not be so if the cost of training and use of the system were considered when it set up information Salon is.

Finally, in an increasingly complex and competitive market place today, small businesses face frequent many of the same ICT challenges as much larger companies, and get the right information to small businesses should be seriously considered in order to help owners with the right and quick decision-making.

[ad_2]

Banking and Company Credit Card Rules for Small Business

[ad_1]

Is your small business with banking and credit policy? If not, perhaps you might want to think about it. Developing such policies and procedures is not a difficult task. It will not take you long at all to do relatively simple operations to achieve banking and credit strategies.

Below please find a summary or guidelines to assist you in developing your own small business banking technology.

What I usually recommend is that you print out this article and then change the outline best fit your business and banking needs. Then, after the changes in the industry itself and tape it to a legal pad, then on the following pages of the legal pad write a paragraph or two on each number and letter item. When you have written and re-written these pages you now have a rough draft, then type in your ideas and plan processor computer and it’s your operations in a place as you expand you business to its full potential.

banking and credit cards

i. WELLS FARGO BANK

A. Current

b. Company Credit Cards

C. Supply Ordering

D. Interest Accounts

E. Numbers places

II. Credit Card Processing

A. How it works

B. Percentages

C. Royalty Payments

III. ATM cards

A. Private Use

B. Credit Cards

C. Business Fund commingling

IV. PERSONAL funds

[ad_2]

Why strategic alliances important for Small Business?

[ad_1]

Global Edge defines strategic alliance “cooperation between the two companies aims to achieve a strategic goal.” Traditionally taking place strategic alliances between large companies and include formal arrangements such as “international licensing, management contracts and joint ventures” – but more and more small businesses are banding together in informal ways to form strategic alliances of their own. What are some of the benefits of forming small business strategic alliances? As a small business owner, how can you pick to start conversations with potential allies and what should you look for in a strategic partner?

sharing resources

strategic partnerships provide an opportunity to pool and share resources. Many small businesses need to operate within a certain capital resource framework – both from an economic and intellectual standpoint. Lack of money and certain types of skills make it difficult to build a small business

“alliances are extremely useful to small business owners – Many times small business owners have limited resources, one of the man power. Another is money, “says Ross Karp, president of the chapter and founder of My Network Group Inc. in New York City. “By forming a cooperation you need a partner to bounce ideas off of to help go after customers who you are marketing to. Karp goes on to say that strategic alliances help small businesses develop or access different skill sets . ” We all have different skill sets that can compliment each other. By working to our strengths and help our weaknesses we are maximizing our time and energy. “

King Eric, VP Business Services at Delta Community Credit Union in Atlanta, Georgia, also believes that the right type of strategic alliance can benefit small business” Strategic alliances can be very useful -. especially if cooperation is based on free core competencies and culture. The concept of cost sharing, especially in the start up mode, can be a great balance sheet management tool. “

new service

Small businesses can also use strategic alliances expand their service offerings. To establish strategic alliances with (like-minded) vendors who share the same target market and provide products / services that compliment brands can help small businesses prosper your. It is a little my business, I have used strategic alliances to offer customers access to a wide variety of marketing related service providers -. must channel to “best of breed” talent for my clients has helped my small business develop a compelling value proposition

More Benefits

In addition to sharing resources and increasing supply, the strategic partnership existing small businesses with a number of other benefits. “Companies that are close geographically (and share a target market) can combine resources to double their efforts ads, “says Hilary Hamblin, Independent Marketing and Advertising Professional in Florence, Alabama. “They can share information database and mail information to two or more mailing lists instead of one. Companies can refer customers to other companies in the Community, and even get a discount for bulk purchases of certain products.” Guy Timberlake, Chief Visionary and CEO for The American Small Business Coalition (The ASBC) in Washington, DC, adds “gaining access to competitive intelligence” and access to potential customers as two more potential benefits associated with forming small business strategic alliances.

Marci Tomascak, independent Public Relations and Communications Professional of New York City, shares a story that describes another benefit – the opportunity to participate in co-marketing programs. “I went to the well-known bridal shop to pick up the store to investigate the purpose. While I was there the” greeters “at the front of the store spoke to me in a little and we got chummy. Before I went to the store, shop hand, they had given me insight razor. It was a great alliance where there is no competition. Not only does the bridal store have a great give away prospective brides and bridal parties but the razor company gets people to try their product. “

How to Get Started

How do you start the process of creating a strategic partnership? In my experience, the best way to reach potential strategic partners is to start networking. I like to investigate other small businesses in the local market in my area and try to find products or services that compliment my brand and provide solutions for my clients. As a next step, I usually send an email introduction outlining how our small business could benefit from working together. What really works for me is a casual meeting over coffee – I meet people face to face in a non-business setting is a great way to quickly find out if you can envision working together Ross

. Karp agrees that forming alliances with network works best. He also believes that it is important to understand your target market and to determine what services (offered by potential allies) compliment the product / service offering. “For example, a real estate broker could team up with a mortgage broker, attorney, insurance planners, etc.” says Karp.

Things to Consider Before forming an alliance

An important aspect of any business arrangement, it formal or casual, is the performance of due diligence. “As the level of contribution to effectively and efficiently pursue new business, the same research and examination should be leveraged when trying to develop cooperation,” says Guy Timberlake of The ASBC. “Simply put, consider the business case to develop and take advantage of such a relationship.”

King Eric also suggests looking to see “how collaboration affects the combined market share. Is overlapping target groups? Is overlapping interests? Is one part of the Community stand to benefit more than the other?”

[ad_2]

Opnun Small Business

[ad_1]

1. Grein fyrir hvers vegna þú vilt að setja upp eigin litla fyrirtæki þitt.

Það er eins og að fara til járnvöruverslun að hugsa um að þú viljir bora, þegar í raun þú í raun bara þurft gat. Hver er munurinn? Munurinn er sá að með laser-brennidepill, kristal-tær yfirlit yfir hvað þú vilt í lok geta gegnheill hraða framförum í átt að markmiði. Ímyndaðu þér ef of þung manneskja fór í megrun án pund tap markmið eða tímaramma markmið td “Ég vil missa 10 £ í næstu 30 daga”.

Mataræði þeirra myndi sennilega ekki ná árangri. Á sama hátt, taka þátt í bardagalistir bekknum án markmiði að ná ákveðnu belti eða mót í ákveðnum tímaramma myndi líka sennilega ekki ná árangri. Í tengslum við opna lítið fyrirtæki, þú þarft að ákveða hvað tekjur, lífsstíl og persónuleg markmið sem þú ert að skjóta fyrir. Hafðu í huga að framfarir er aldrei eins hratt og einhver af okkur vilja í óþolinmóð veröld okkar svo hugsa í skilmálar af ári til árs og mánaðar til mánaðar vinnslu. Til dæmis, “eftir August næsta ári, ég vil hafa Level 3 mín persónulega þjálfun hæfi, hafa byggt upp viðskiptatengsl með 7 gyms, hefur 25 einstaklinga persónulega þjálfun og vera að gera $ 1.100 á viku hagnaði.

Jafnvel þetta ætti að vera frekar bora niður til jafnvel meira ör-sérstakur markmið. Án þessa ‘gervitungl siglingar “aðferð fyrir lítil fyrirtæki þitt, hvernig getur það að fá til hvaða áfangastað?

2. fyrsta hring lagið er erfiðasta.

Með þessu meina ég fyrstu viku, mánuð og ár af nýja fyrirtæki þitt verður erfiðustu. Hvers vegna? Vegna þess að þegar við lærum eitthvað nýtt, gera við mistök. Og þá meira mistök. Og sennilega jafnvel meira eftir það. En það er allt í lagi vegna þess að galli leið okkar áfram er ekki bara ein leið til að læra, í raun, það er eina leiðin sem við lærum. Fail leið fram og sleppa öllum kjánalegt hugmyndum sem galli er slæmt. Þú bara getur ekki lært án galli. Galli er mikill vegna þess að það bætir við þekkingargrunn og árangur er ómögulegt eða í það minnsta afar ólíklegt án þekkingargrunn. Svo ekki sóa tíma fresta um hvort hefja lítið fyrirtæki.

Þú ert að fara að vera galli og skrúfa upp á fyrstu sex mánuðum til árs samt svo hvers vegna ekki að byrja núna? Það er, ef þú fylgja lið þrjú hér að neðan.

3. Ég kalla þetta stökk milli færa bíla aðferð.

Þegar gera stökk frá venjulegu 9-5 vinnu til nýs lítið fyrirtæki, það er afar mikilvægt að hinn tekjulind er að flytja (eins og bíll akstur samhliða í bíó), þ.e. að gera peningar. Það er brjálaður að hoppa úr stöðugum tekjur uppspretta við einn sem er ekki enn veltingur. Hins vegar gera upprennandi athafnamenn þetta allan tímann. Séð hvað gerist í bíó til strákur að reyna að hoppa frá brennandi bíl í örugga eitt hjá honum og saknar? Ouch! Já, hafa tvö störf fara í einu er erfitt starf og já það verður stressandi um stund. En er ekki að lifa lífinu á eigin forsendum með frelsi að tími og peningar, hugsanlega fyrir the hvíla af þinn líf þess virði?

4. Sem lítið fyrirtæki er öruggasta, besta og mest ábatasamur fyrir þig að fara í?

Ég fæ spurði þessa spurningu mikið og besta ráð mitt er að fara í fyrirtæki sem hentar eigin einstaka persónuleika þínum mjög vel td það er gott peninga í sjálfsölum en þú getur, til dæmis, vilja hýsa reimt sögulegar ferðir í þínu svæði vegna þess að þú elskar sögu, hefur áhuga á yfirnáttúrulega og elska að hitta og tala við fólk. The fyrirtæki hefur til að passa eigin persónuleika þínum vel. Og það ætti að hafa mjög lágt fjárhagslega hæðir – helst næstum því ekkert. Netið gerir öfgafullur lágmark-kostnaður markaðssetningu og selja meira hægt en nokkru sinni áður svo ekki hoppa ekki í dýr langtíma búð leigir starfs- samninga, kaup búnað og svo framvegis. Vinna frá heimili, nota internetið, setja flugmaður í letterboxes sjálfur, komast út og tala að miða markaði (ókeypis) og gera allt eins lítið fé og mögulegt er. Þá ef fyrirtæki ekki – sem hún gæti, að minnsta kosti um stund -. Þú hefur aðeins fórnað tíma

5. Final lið.

Á meðan á starfsævinni mínum í markaðssetningu og viðskipti, ég hef hitt marga mjög ríkur og vel athafnamenn og ég hef líka hitt marga mistókst athafnamenn. Hver er helsti munurinn á milli hópanna tveggja? Intelligence? Nei. Þokki? Nei. Luck? Nei. Tilkoma frá ríkri fjölskyldu? Nei. Í staðreynd, the aðalæð mismunur var að þeir sem höfðu gert það haft algerlega pigheaded þrjósku til að gera hvað sem það tók að læra ákveðna kunnáttu til að græða peninga. Þrjóska. Ekki vanmeta mátt það ef þú ert alvarlegur óður í að ná árangri. Sjálfbær bilun var annars hugar við sjónvarp, of mikið eitthvað, stökk frá einn fá ríkur kerfi til annars og annað og öðrum glansandi hlutur sem kom inn í sporbraut þeirra. Í stuttu máli, sigurvegarar voru ekki annars hugar. Tapa voru.

Nú fara og opna lítið fyrirtæki sem gefur þér frelsi og stjórn á lífi þínu.

[ad_2]