HOW TO PLAN FOR BUSINESS OWNERSHIP AND COMPENSATION (PART 2) Compensating With Stock Giving someone ownership rights in a company is a serious decision that should receive very careful consideration. There are several things to contemplate before taking on an equity partner, be it an investor or key manager. For […]
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HOW TO PLAN FOR BUSINESS OWNERSHIP AND COMPENSATION (PART 1) Two of the most perplexing issues faced by an entrepreneur heading a new corporation are how much of the company to sell to potential stockholders and how much to pay key managers. Whatever method is ultimately chosen, it should […]
Manage What? for Managers Responding Assertively to a Customer Complaint You are the assistant manager of a paint store. Your store manager and all the service technicians have already gone home for the day. The phone rings and you find yourself talking to Mrs Philip, a customer who says (in […]
HOW FRANCHISING CAN AID YOUR BUSINESS GROWTH GETTING STARTEDÂ One of the most readily available ways of starting your own business is to buy a franchise. Compared to other forms of start-up, this is often a relatively risk-free method of getting established in business, because the development of the product […]
WHY YOUR BUSINESS NEEDS A BRAND STRATEGY Most entrepreneurs generally start out by focusing on what they’re good at and what they can sell, but this is the cart-before-the-horse method of creating a long-term viable business. What every business needs first is a good brand strategy. If you don’t have […]
HOW TO ORGANIZE A START-UP TEAM The organization of a business process and the site for the business are critical aspects of the management and the operational plan, but it is the people who implement those processes and use the company facility on a daily basis. The roles and responsibilities […]
HOW TO IMPROVE PRODUCT INNOVATION AT YOUR COMPANY More often, even big companies struggle with innovation. An example was Gerber’s 1970s attempt to penetrate the adult food market. Instead of developing a new line with its own unique distribution strategy, the baby food brand re-labelled existing pureed products and simply […]
HOW TO DEVELOP A MARKETING PLAN (2) The Marketing Plan in One Paragraph Many experienced marketers suggest that the first step in creating the marketing plan is to condense all the ideas about marketing strategy into a single paragraph. Impossible? Not at all. Crafting a single well-written paragraph forces the […]
HOW TO DEVELOP A MARKETING PLAN (1) For any company, an effective marketing strategy begins with a marketing plan. The marketing plan for an entrepreneurial company is a living guide on how the company plans to build customer relationships over its life in order to fulfil the mission statement in […]
BENEFITS OF CREATING RELATIONSHIP MARKETING WITH CUSTOMERS (PART 3) Just-in-Time Marketing Customer wants are often tied to major events or rites of passage, such as birthdays, marriage, purchase of a home, pregnancy, and relocation. Keeping track of dates that are important to customers gives the company an opportunity to contact […]
