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We live in a relentlessly competitive world. The daily pressure to work "better, cheaper and faster" can make even talented business owners and entrepreneurs lose site of first principles. As you cope with the decisions and details of running your business, focus on the fundamentals! Regardless of the type of business or the products or services you sell, here are my suggestions for the Top 10 Basics that will make your fortune: 1. Customer Benefits. You and your customers must clearly understand the benefits that your products and services provide. Most buying decisions are based on the consumer’s perception that a new color will add prestige or that a smaller, lighter product will be more convenient. Customer’s buy benefits. 2. Extra Value. Customers must receive more in value than you charge for your goods and services. Most of us don’t want a "fair" exchange, we want a bargain, the sense that we got extra value for our money. 3. Extraordinary Service. This means attention to detail. Answering the phone on the first ring, providing an 800 number and 24-hour customer service numbers are examples. L.L. Bean has made a fortune with it’s "no questions" guarantee. So can you! 4. Know your Audience. Every business has to know their audience. Volvo and Nissan have very different audiences, and their advertising, pricing and even the location of their dealerships reflect this. Young adult audiences may value low price, while another group may value quality, performance, reliability or some other item. This is even more critical for service organizations who’s products are invisible (consulting, education, coaching, etc). 5. Location. In the old days, this meant the street address of your shop or store. Now it means getting your marketing messages into your customer’s hands when and where they are receptive. Be certain your website is located at the top of the search engines. Make your Yellow Page ad larger or distinctive. NASCAR race fans are the most brand-loyal consumers in America. If you want to reach them, buy space on a race car! 6. Convenience. Customer’s expect to shop at their convenience, to pay by credit card, to call an 800-number, and to have their questions answered correctly the first time. Obviously, most service providers (medical, legal, consulting) can not be available 24-hours a day, and how you handle that problem will say much about you and your business to potential customers. Make it easy to do business with you! 7. Innovation. New is good, newer is better. Customers expect the benefits of the most modern technology. At a minimum, they expect the convenience of email, voice mail, pagers, and fax. If there is a faster, better, cheaper and more reliable way to do it, adopt cutting edge techniques before your competition does! 8. Reliability. Consumers assume they can rely on your products and services. If they are purchasing your time and expertise, they rely on your availability, your advice, your attention to detail, and your follow-through. Durability may be less important in a throw-away age, but consumers demand 100% reliability. Be available for them every single time! 9. Planning. Planning takes on strange twists when a computer chip "generation" lasts 6 months and a website may be "old" in 6 weeks. Planning is the ability to monitor, influence, and profit from change. Planning means having a mission statement and the flexibility to respond instantly when new information allows you to fulfill your mission more effectively. Planning means you control your destiny. 10. Communication. Communication means instant, 2-way communication between every level and every branch of an enterprise. It means communicating with your vendors and competitors, and working with your customers so they become your most important designers, researchers and customer service experts. It means an "open door" policy and flat organizational models. It means listening is more important than speaking. It means ideas rule the world. Starting A Child Daycare. - Complete business package to help you easily and quickly start your own profitable home-based day care business! Ninjasecretsrevealed.com. - Who Wants To Discover Ancient Secrets Of The Mysterious Ninja Clans Of Feudal Japan. And How To Become A Ninja Today?
To listen to the interview, click on this MP3 file link DISCUSSION: Interview Time Index (MM:SS) and Topic Eileen, you have a promising history of significant impact and contribution to society, the community, education, research and the ICT industry as an undergraduate. Thank you for sharing your experiences and insights with our audience. :00:43: :01:40: :02:20: :04:02: :05:27: :06:08: :07:34: :08:27: :09:09: :09:41: :10:54: :11:45: :12:11: :14:12: :14:45: :15:38: :16:12: :17:07: :20:21: :20:53: Eileen’s Profile:Eileen Chen is a junior studying within the College of Information Sciences and Technology at the Pennsylvania State University at University Park Main Campus. She is also in the Schreyer Honors College. She expects to earn a Bachelor of Science degree in May of 2013 with a major in the option of Integration and Application in Information Sciences and Technology and a minor in Supply Chain and Information Sciences and Technology. She received the David Suarez Memorial Scholarship (a remembrance from his colleagues at Deloitte Consulting/Deloitte & Touche), the Dipple Trustee Scholarship, the Raytheon IST Scholarship, and the Delta Gamma Lamp of Knowledge as well as achieved Deans List all semesters. Eileen worked as a teaching intern for an introductory Java course during the Fall 2011 semester and a computer lab consultant for Penn State ITS Lab Consulting. She recently joined Dr. Brian H. Cameron, the Executive Director for the Center of Enterprise Architecture in the College of Information Sciences and Technology and the founding president of the Federation for Enterprise Architecture Professional Organizations (FEAPO), as a research assistant. She is currently working with FEAPO and the Communications Committee. She also assisted Dr. Cameron in preparing for the Center for EA at Penn State Meeting, which she attended in October 2011. While learning about the innovative subject of enterprise architecture, she is also gathering research for her honors thesis. Learning in the classroom and work environment is important to Eileen, but she also values the knowledge she gains outside her coursework. She is passionate about giving back to the community, and her main focus is bettering the quality of life for children. She currently serves as a Technology Captain for the Penn State IFC/Panhellenic Dance Marathon, affectionately referred to as THON. As the largest student-run philanthropy, THON raised $9.56 million in 2011 benefitting the fight against pediatric cancer. Eileen also serves as Administrator and Website Chair for Bee House, a special interest organization with the sole purpose of fundraising for THON. Her sorority, Delta Gamma, in which she serves as the Director for Electronic Communications, also fundraises for THON and other philanthropies. In addition to THON, she has participated in the LeaderShape Institute, the General Electric Student Leadership Conference, Role of a Resident Assistant Course, the National Collegiate Honor Society, Be Engaged House (a leadership and service special living option), and intramural volleyball. Article Index: | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 |
More Articles:1. Parenting Your Employees to Better Performance By Inez Ng Have you ever worked for someone who was such a micro-manager that it drove you crazy? And have you ever worked for someone who was so hands-off that you felt like a lone warrior on the battlefield? These are examples of you working for leaders who did not adapt their style based on the employee’s needs. I would venture to guess that you were not entirely motivated to put out your very best effort every time when you were feeling such frustrations.What can you, as a manager, do to prevent t… 2. Lateral Thinking, Logical Thinking, Applied Creativity By Kal Bishop Certain processes enhance creative output and others enhance innovative output. Defining creativity as problem identification and idea generation and innovation as idea selection, development and commercialisation, this article will tackle stages two and three using the three-stage process of lateral thinking, logical thinking and applied creativity.The start of the process involves building a sizeable idea pool of quality ideas. In this article, we can define quality as being a large number o… 3. Company Liability: Give Sex, Get Favors By Rhonda Goetz Sexual Favoritism falls under the Hostile Environment category of the federal law that governs harassment and discrimination in the workplace.The Civil Rights Act of 1964 makes it illegal to discriminate on the basis of race, color, religion, age, national origin, and sex. Businesses are required to comply with both federal and state laws governing harassment and discrimination.Sexual Favoritism is not a federal law unto itself (although some states declare it as such), but an aspect of either… 4. Agenda-ize to Make Your Meetings More Productive By Larry Galler Every business that I have ever seen has meetings of some kind. Some are productive but the vast majority of meetings start late, rehash some old stuff, and end even later, rarely producing much in the way of progress. It seems that many meetings happen by inertia, existing because they always have existed and will always exist no matter if they produce anything of value. This is expensive in terms of wasted time and talent. If your business is in this endless loop of non-productive meetin… |
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