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 STARTED 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 […]
HOW TO HIRE THE RIGHT TEAM Today, with ever more employees suing their bosses for wrongful discharge, sexual harassment, and racial/gender/age discrimination, it is increasingly important an entrepreneur understand how to hire. Hiring is not a simple matter of placing a help-wanted ad in the newspaper, receiving resumes, and then […]
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 […]
WHY SMART COMPANIES OUTSOURCE PRODUCT MANUFACTURING When new businesses fail, most of the time it’s due to running out of cash. Poor cash flow management is the nemesis of the more than 80% of new ventures that go out of business in the first year. It takes a lot […]
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 DEVELOP A MARKETING PLAN (4) Strategies For Pricing Pricing a product or service is as much a part of the marketing strategy of the financial strategy. Pricing is one of the many features associated with a product or service; it becomes the central selling point when the product […]
HOW TO DEVELOP A MARKETING PLAN (3) Components of the Marketing Plan Every marketing plan incorporates the traditional 5 P’s of marketing: people, product, price, place, and promotion. Once these aspects of the plan have been addressed, it is time to discuss the creative aspects, such as the advertising and […]
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 […]
