In this age of computers, various business models have cropped up that make use of modern technologies. One of them is called the click and collect.
This is most ideal for people who enjoying shopping online and would like to get their items right away without having to line up or wait for a day or two. This is how it works. Normally, a consumer purchases an item online and then instead of choosing the door-to-door delivery option, the customer decides to just pick up the product at a branch of the store near his place. So you click to purchase online and then collect your item at a brick and mortar store.
The click and collect is a multichannel concept. It makes use of the online platform and the traditional brick and mortar stores. More →
One way of determining the best path for a business to take is through competitor awareness. Competition encourages businesses to do better. The goal is to find out competitors’ strength to emulate or even top it. Weaknesses of competitors allow a business to penetrate their common market while having the chance to be the one to fill in the gap being experienced by the other.
It is natural for consumers and customers to notice a product or service that addresses a specific need which cannot be provided by another. A new brand can upset the standing of a long-established brand if it is able to manifest its ability to perform better. Its success of penetrating a leading brand’s market may be impossible to attain even if offered at a lower price if quality comes out lower as well. The task may be more attainable but still difficult when a new brand offers the same quality for a lower price. Chances for success are greatest when a new product comes in the competition with offered advantages over the others.
It is never a good idea to ignore competition. To do so would result to marketing efforts that may not be exactly apt for the company’s aim to prevail over the target market. This is why all start-up businesses are advised to conduct a market research. Information derived from market researches will show what type of competitors a new business is expected to be up against. It should also reveal the potential profitability of the proposed businesses in relation to the existing market. When data tend to provide a picture of potential non-profitability, budding entrepreneurs should consider coming up with an evolved form of the original product being considered. This is because it is highly possible that a market for an existing product has already been fully saturated but another potential market can be created when a product is reinvented successfully.
Remember the biggest excuse that business owners have when it comes to blogging? â€œI do not have time for it.â€ This is probably true for many business owners. With everything that they have to tend to at work and at home, they really might have no time to write and maintain their own business blog.
Yet there is a workaround to this problem. Why not create a team of bloggers which can handle the business blog? This can mean that you, the head of the company, can still be part of that team or it can be that you will totally leave the blog to your â€œteam.â€ I prefer the former set up though.
I believe that if you really want your business blog to help your business, you, being the leader of the company, should be deeply involved in the activity as well. Having other people working with you on the blog means that you wonâ€™t have to spend as much time on it, though. It will be a good thing for everyoneâ€™s productivity because the work for the blog will be spread between 2 or 3 people. The number of people on your team depends on how often you want to post entries. If you want entries posted everyday, then you might want 2 or 3 people on the team. You might also want to assign a reviewer to ensure the quality and integrity of your posts.
Another benefit of having several people work on your blog is intellectual variety and stimulation. Having different points of view and ideas in the blog will certainly add more flavor to your blog.
Image source: http://thegoldguys.blogspot.com/
I am sure you know that old saying by heart: the only thing constant in this world is change. With what we have been experiencing in the past year or so, I am also sure that many of you have experienced this saying first hand. Change has been happening all over the world in various sectors, and the business sector has not been exempt from that. Your own business might even have had to undergo some major changes as well.
Talking about change, how is your business when it comes to dealing with change? Are you and everyone involved resilient enough to weather any changes that might happen or are you resistant to the possibility? Let me tell you know, even without an impending change in the horizon, it is always important that you ready yourself, your employees, and your business itself to change. At one point or another, it is bound to happen. And when it does, you will only really benefit if you are ready for it.
How do you prepare yourself, your employees, and your business itself for change?
Take a close look at your company culture. Perhaps you are of the traditional kind. Perhaps the culture that has been ingrained in your business is resistant to change. If so, it is time to do something about that. Talk about change on a regular basis. Talk about it in meetings. Talk about it over coffee. The idea is to help your employees open their mind to change and for them to be able to see it as a positive thing.
Hereâ€™s to change!
For some companies, training is an inherent part of their business plan. For some, unfortunately, training is nothing but an expense. Let me ask you, how do you view training? Do you think that you have to spend time, effort, and money on training your employees?
Truth be told, I lean towards the first point of view. While training may indeed cost you, I view it as an investment. The money spent on training your employees and helping them in their professional development will only reap benefits for you and your business.
Before you start training your employees, however, you have to have a plan and to be sure what it is that you want to help them with. Here are some tips that can help you in this regard.
Have the right mindset
As I mentioned earlier, you have to be convinced a hundred percent that training is an investment. Once you are sure of this, you will not be swayed and you can lay out the specifics as to what your employees need training on.
Do not be limited to formal training
While formal training is necessary, you also have to realize that a lot of training can occur outside the classroom. You can make use of on-the-job training and save yourself some money as well.
Set an example
Continue to develop yourself professionally. Just because you own the business does not mean that you cannot continue to learn. Attend seminars and workshops when possible. Your employees will then see just how important learning is to you and perhaps take on the same attitude.
Every business requires change and progress. The business which is at a standstill is going to get finished â€“ and no businessperson would like that for sure. Here some useful tips are given which will help you for the development of your business and continuation of growth of your company.
Always be on the lookout for new customers.
Only because you have stable customers, you shouldnâ€™t sit back and watch. It is good that you have a stable customer support â€“ providing you a steady source of income. However, you can not be sure about the period of time that customer is going to stay with you. After all, stable does not mean permanent. So, you should always be searching to get potential steady customers.
Keep watch on the change in needs and expectations of your present customers.
A steady customer support does not ensure that your customers will not have changing needs. According to the saying, change is the only permanent thing in the universe. As such, it is your duty towards your customers to always have knowledge about their expectations and how to provide cheap web hosting to fulfill their needs. Of course, before change your products and services, spending money, ensure that your customers can afford to pay for these extra services as well.
Keep watch on your competitors.
You should always have the knowledge about what your competitors are doing such as if they are offering cheap web hosting services than you. Otherwise, you might lose your customers. Knowledge gives you power and having knowledge about the competitors will help you to promote your business.
The technology has been around for so long that it has managed to evolve as a primary business tool for communications. Known mostly to support and call centers, VoIP has gone mainstream saving businesses the much needed cash that hard to come by in today’s economic downturn. From high-end hardware based VoIP that has dedicated hardware designed to work similar to the private branch exchange systems of days past to more affordable soft-VoIP or software-based VoIP that uses emulators presenting the communications interface through the computer’s monitor.
Communications is one of the most expensive costs in a business and what better way to save than to use the existing internet connection for the same purpose. VoIP for business allows the downsizing of the communications infrastructure that used to cost businesses thousands of dollars turning to the ever present internet for communications that with the addition of a mic and speaker system turns into a more profitable investment.
So your online business is doing ok. Your brick-and-mortar business of course is driving all of the sales, and the site is merely an online advertisement and you’re lucky to get one or two online sales a month. That’s a huge waste of time, you know. You can do so much more with your website and your not even utilizing your site’s potential to the hilt.
You can try promoting your products on social media channels like Facebook, Twitter and YouTube, all while placing a link to your website for online sales. It doesn’t hurt if you have an online checkout/shopping cart solution in place already. Submit your site to an Australia Business Directory as well, that will work wonders if your site’s located in Australia. If you’re somewhere else, it goes without saying that you just need to look for your location’s business directory.
The problem may also be because your possible customers may be having a hard time to find your site online. Have you tried googling for your product? Did your site land in the first page of results? Then a bit of search engine optimization may be needed. It’s expensive, it will take a lot of time before you see results, but yes, it works and has great results in the long term.
Your website isn’t something you just create and put on the web and just expect people to come and visit it. It needs to be constantly tweaked and updated and promoted for you to maximize it.
Technology is something that has become an inherent part of any business. In the past, a business could survive, even flourish, without really putting much thought on technology and how it affects the day to day running of a business. Today, however, not paying mind to technology can very well be the start of the unraveling of the tapestry. So do you have a technology plan? If not, here are some ideas to get you started.
Start with the big picture
Much like having a business plan, you need to look at your technology plan by looking at the big picture. What do you want to achieve? Set your goals and then slowly work at the details.
Align your technology plan with your business strategy and goals
You canâ€™t treat the technological aspect as a separate thing. You need to know your business strategy and goals, and let those guide you as you create your technology plan. Bear your overall business goals in mind as you make decisions for the technological aspect.
Treat technology expenses as investments
One thing that keeps some people hold back on their technological improvement efforts is the fact that they see the associated expenses as merely costs. They do not see that somehow, it is an investment. Change your perspective and youâ€™ll see that investing in technology will end up saving you money in the long run.
Get expert help if needed
If technology is not your forte, donâ€™t force it. While there are things that you can learn, there are also some things that are better left to the pros. If you need help, do not hesitate to get it.
The last thing most people would think about when starting a business would be their exit strategy, after all youâ€™re just getting started! Planning your strategy is actually a MUST. Itâ€™s a must because you never know how things will turn out and having no exit strategy for every possible scenario could lead to wasted opportunity or worse, something disastrous.
You need an exit strategy for any eventually including success. If you think about it a successful business means that it could possibly outlast your ability to manage it, but only if you have an exit strategy in place so that the whole business wonâ€™t come toppling down when youâ€™re gone. So whatâ€™s your business strategy for success? Will you be leaving it in the hands of family, a trusted right hand, or go public with it? Before you decide on a strategy to go with make sure you consider the feasibility of each choice factoring things such as cost, training needs, and timetable.
Be sure that the timetable is realistic. Remember that in business timing is one of the most crucial things. If you already have existing partners/investors you should discuss the exit strategy with them because THEY might have their own exit strategies and their timing might not coincide with your plans.
You also need an exit strategy for failure; a thing people would rather not think about but is vital if you want to bounce back faster. In this case have a baseline criterion to help you determine if itâ€™s time to bail out before you lose too much. Figure out what to do with the remaining stock, with your employees, with your lease contract, and all the other practical details.
This way, however things end, youâ€™ll be prepared.