Economic crisis is not the cause of business collapse

Many businesses today have been brought down not only by the global recession but also by mismanagement. It is not in order to assume that the global economic crisis should only be working against your business. Many managers who are failing today are blaming the bad economic conditions for their poor performance. A good business manager should be able to look for effective ways of handling a bad situation and getting the best out of it.

One of the most deceiving business ideas is that by putting your eggs indifferent baskets, you are going to be successful. Most of the managerial trainings include what is commonly called ‘portfolio management’. This theory supports the idea of investment diversification. This is why managers think that during bad financial moments for the business, they need to diversify their investments in order to reduce the risk of losses. This may not be a solution if the management style is wrong. A poor manager will still fail even in a diversified portfolio.

Many are left wondering about what they should do if diversification is not working. The truth is that diversification should only be left for those who are not sure of making it in one line. Instead of diversifying your investments, you should be thinking of specialization.

You should be looking for the best business strategies that can make you a king in your line of operation. Unfortunately, many business managers view success as only retaining some profits for the business. Very few people are endeavoring to be the most outstanding businessmen.
Showing posts with label marketing. Show all posts
Showing posts with label marketing. Show all posts

Friday, October 2, 2009

Guidelines on online marketing


The much anticipated fact that all businesses will one day turn online is almost a reality. This means that using the internet to do your business and earn while sitting at home has become much easier, reliable and hopefully cheaper. As a business person, you must therefore scale up your options to include interactive marketing online options. This will automatically catapult your business to the next level. In other worlds, a visionary business person should position him/herself in a way that he will enjoy the full benefits of online business.


One easy way that has proved to be an effective but affordable way of marketing is the use of e-newsletters. Such kind of letters should be linked to your website such that at a simple click your site opens. This is an extremely powerful strategy because it a relationship building tool which can turn strangers into friends and eventually into customers.


But you must understand that today, everyone is in a hurry especially when reading newsletters. This means that you must take into account the amount of time you expect a person to spend reading the letter. Therefore, try keeping it short and breaking each section into smaller, easy to read segments. This should also be accompanied by bold headlines which are eye catching and encouraging the reader to stop for a moment and think over it.

When doing online marketing, always remember to include a client who has achieved great results by using your products. Remember, it is more costly to lie. Try to be as realistic as possible.

Exchanging marketing strategies


Most of the times, when we hear of exchange programs, what quickly runs through our minds is how students and young professional in apprenticeship will visit each others countries and territories. This is mainly done to expose them to different environments and learn how things are done away from home. What never crosses our minds is that we could as well use this strategy to boost our customer base and hence expand our potential consumers.


In the real business environment, there are strategies that work for our competitors but just cannot work for you. Wise men say that one man’s meat is another man’s poison. But identifying a partnering business in the same industry you are in, can work well for you. Remember that the idea behind this is not who beats who but is focusing on the customer. Many businesses spend a lot of time trying to outdo each other instead of increasing their customer base.


Entering into a business partnership with one of your biggest competitors will ensure that you outdo all the others and consequently pushing them out of the market or else getting the lion’s share. As partners, you should concentrate on how to attract customers to your businesses. This calls for sincerity and sharing the tips that have worked and those which have not. Both of you are able to look at the possible marketing strategies that will guarantee your success and intensify your profit search.

Working in an environment where businesses work together means that the center of attention will definitely shift from the competitor.

Friday, September 25, 2009

building a marketing team

Business marketers have a big role to play in the success of their departments. Whether the marketers are working for a small company or a large entity, good, solid marketing skills are the only ways for guaranteed business success. Even the businesses which have had achievements in particular brands, the need for updated marketing skills is most essential.

A good marketer needs to develop a relationship with the people he/she intends to sell to and the people he is working with. In the work place, you are a coach for your team of marketers. Of course, if they are comfortable with their coach, they will be comfortable doing their job and being there everyday.

A good way of coming up with an excellent marketing team is from the beginning. When you recruit new marketers, it is important that during their orientation, someone shows them how to do their job correctly. Remember that training them on how to do their job so that there is no room for confusion is an effort worth repeating. This also means that when a new policy is introduced in your business, you must ensure that all the employees are informed of the changes so that they can continue to do the good job. When you help your team to do their job correctly, this department will run smoothly and fewer mistakes will be made and thus enhancing the chances of success.

You must show some sense of encourage and set a good example and one of leadership and purpose. The team leader carries the team to success because he/she is the root of the team.

Monday, August 17, 2009

Marketing- what you must know

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For every product success story, there must be a significant level of marketing. The main aim of marketing your products is to avail information to your prospective customers but the decision whether to buy those products or not, exclusively remains with the customer. This calls for proper marketing tips that present your products as the most outstanding in the market.

Every successful marketer knows that market research is vital for him/her to remain on the course of business. This means that you must discover who your potential customers are. This largely depends on what products you sell. Go ahead to know where they are particularly located. This enables you to decide the possibility of the products reaching them.

Before you think of marketing your products, think of your public image. Some businesses do not even need to market their services since the consumers already have a bad perception towards them. You must market your business first before marketing your product. Remember that you goods or services will be associated with the image of your company.

It pays a lot when you have all the information regarding the goods that you are selling. Your clients will feel more convinced about the products if you are also using them. This shows that what you are selling is not harmful and is worth trying.

You must also work on yourself before meeting your clients. Wear a smiling face and speak confidently. Your prospective customers will probably be looking forward to see if you believe in the information you are providing. Avoid anything that would suggest that there is a degree of uncertainty on the performance of your products.

Friday, July 31, 2009

Exploring new marketing methods

Have you ever thought of making fresh attempts to establish new markets in order to expand your existing customer base? The simple truth in business is that effective marketing gives you a great business potential. One thing that you must strive to achieve is re-opening any markets that you may have lost. May be you need to establish the cause of such losses to avoid doing them again.

It will shock you much just to realize how much your business is losing due to untapped markets that exist in your business environment. To have a continued increase in customer base, it is important to send a team to do research on the market potential and study other logistics. Once such a team has brought back its report, know which sectors of your market have the largest potential.

A good businessman/woman does not rely on one market as his/her sole source of income. On the other hand, do not rely on one stream of income. With the changing customer needs, there is also need to come up with new strategies to satisfy such needs. This requires an ever thinking marketing team. It means that your marketing department should be that of critical thinkers.

Marketing does not necessarily mean that you spend much finance in the media. There are other marketing strategies that do not require any resources. For example, treating your customers in a respectable way is a traditional method of marketing. On the other hand, after sale services, re-branding and re-packaging are other methods to keep you going.