For example, call forwarding and call waiting are features; never missing another call is their benefit. As a result, they have lots of time to enjoy the benefits of a business that works for them. A brand extension is the introduction of a known brand into a new product category, such as when a clothing designer begins offering a line of shoes. Even if it looks like it ll take an air strike to keep your business from getting started, you don t want to do it if the numbers say that long-term it s headed nowhere.
There is no cheaper or more powerful tool for promotion
is to explain
what's expected and then provide feedback regarding their progress. In order
to improve production
results, install simple productivity systems to help your managers, supervisors, and foremen look ahead and think about what's required to keep production efficient, fast, and running like a machine. Remember there
is no fate.
is often not
the top priority for most business owners.
Is Your Company Getting Rusty in Operations?
an organization's financial
picture can be distorted: The entire cost of a piece of equipment with a life expectancy of 25 years would be expensed in the year it was purchased, which could make the company appear highly unprofitable that year and inordinately profitable in subsequent years. The intangible
components of your
brand are crucial. Profit shows
you how much
money your business makes. Others grow
to two men
and a truck.
Be Direct with your Production
customers need more
attention and how you can get a bigger return on the marketing money you invest to maintain customer relationships and increase your net profit potential. To build
a business and
get what you want, you must be focused on your bottom-line numbers, know what things cost, collect your money, and always make sure you're making a profit. One of
the reasons for
differences among plans is that industries are different. Strong competitors,
price wars, me-too
products, the fickle habits of the buying public, and other market-related risks must be addressed.
10 ways to get through to your Business
warning labels may
seem ridiculous, but in a litigation-crazed society, you will actually see labels such as the one on a portable stroller that read, Please remove child before folding. Really? It is
efficient but can
be overreliant on old ways when a new approach is needed. Most successful
businesses were started
by individuals who had clearly defined vision, purpose, and goals. Focus on
how better players
make it happen and what low-ranked players don't do well.
Personal research will be a lot fresher than third-party market research
is the best
way to motivate people to do what you want them to do? That s
exactly what empathy
will help you do. Many
large dealers fail
because they keep departments where the expenses are more than the profits. Know your
numbers, manage your
financial systems, and watch your bank account grow.