Online retailers are not immune to feeling the squeeze when the economy slows and brick and mortar businesses begin to feel the heat. All retailers are exposed consumers are cutting back on frills like eating out and discretionary spending. When dealing with inflation and other commodity price increases, retailers do find that it’s hard to pass through higher costs on consumers, since they have a laser Read the rest of this entry »
Starting a new business is both scary and exciting. When you are starting a new business, you need to define what your business is – what you will be selling and to whom you will be selling your product or service. Writing down a business plan (and writing it down is the crucial step) forces you to think through different aspects of starting and running your business.
The business plan templates Read the rest of this entry »
I don’t know about you, but after a crazy day of working in my business, there is one question that used to send me into overload. “Mom, what’s for dinner?”
By the time I was asked that question, my brain was usually fried from a day of work and after having to make decisions all day, this was one decision I was not prepared to make.
The sad truth about not having thought through Read the rest of this entry »
A lot has been written about this subject, and of course there is a lot of marketing hype about it all over the internet. I don’t know why, but down markets seem to bring out all the hucksters and people who have no difficulty feeding on the desperation of others. The claims I have seen are so blatantly unbelievable that they boarder on ridiculous. My greater concern is that like having billboards Read the rest of this entry »
Workforce management news is not good for U.S. employers.
Did you know that 40% of the U.S. workforce is nearing retirement? Did you know that by 2010, 64 million baby boomers will be retiring or close to retiring?How will your company function with 4 out of every 10 of your employees not there tomorrow?Did you know the current replacement pool for these positions is about 10% smaller?<br Read the rest of this entry »
Much has been written about mission and vision statements. Some organizations can’t stand them, others swear by them. Some organizations are successful without them while others believe they are in part the reason for their success. Strategy is another aspect of organizational life that has received a fair amount of both good and bad attention. Used incorrectly, all (mission, vision and strategy) simply Read the rest of this entry »
Necessity is the mother of invention! A classic example is Motorola, the originator of Six Sigma. The need for survival created the winning strategy for Motorola through Six Sigma. Motorola is now known as a quality leader worldwide and credited with starting the Six Sigma revolution. Today, that concept is hotter than ever.
Six Sigma is a tactic to manage process variations that cause defects, Read the rest of this entry »
What ever success you are looking to achieve you need to have a strategy to get there.
Once you have your strategy on how you are going to attract and get new clients you need to implement at least portions of your plan. Many businesses have failed for lack of commitment to their overall strategy.
For an example let’s say that you have a local business and you have decided one of your strategies Read the rest of this entry »
A business plan is an essential document for any new business and holds the key to the success for many new businesses. This document is one of the most important that you will produce for your business; it not only helps you to secure external finance it also keeps you focused on your business goals.
Many new businesses often have the wrong outlook of a business plan; many see it as merely Read the rest of this entry »
The need to run the business model numbersWhen a new business model is being considered, proponents must first undertake a qualitative review – i.
e. determine whether the story underpinning the model makes sense. There needs to be a logic behind the adoption of the model and a compelling case that it will be supported by its intended target audience.
Upon completion of the qualitative review, Read the rest of this entry »
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