What You Can do When The Business Strategy Changes

Your business may be doing incredible at present. As the economy bounces back, a great number of small businesses are discovering that income is getting up again after years of sub-standard business. Over the recent years, our economy has faced a few difficulties, yet the recuperation seen today raises questions for a lot of small business owners – is the strategy of your business relevant to today’s market needs?

You should understand that the changes in the business world are natural. With regards to business, both your clients and your rival are continually evolving. This is due to the fact that economic situations do stay steady for long, and adjusting to these progressions becomes vital for any business to be successful. Your business strategy may have been an immaculate technique for what the market required when you began your company, however as your organization develops and outer conditions change, analyzing your business strategy is necessary to your long-term achievement.

Thirty years back, newspaper organizations would not believe that their printed dissemination would drop significantly over the accompanying couple of decades. Presently, news organizations who have not embraced the changes that are accompanied with the advancement of the web are feeling smashed from advanced innovation that is, if they’ve figured out a way to stay in market for this long.

You should identify the areas of your business strategy that require changing. Only because the economic and market situations have transformed, it doesn’t imply that the core purpose of your business needs to change as well. When assessing whether your business strategy is up to date, it is essential to break down each one segment independently and review it. By figuring out the areas that require change, you can prevent a huge adjustment to your organization’s operations and focus while enhancing your company’s competitiveness and relevancy in the market.

Another technique to stay relevant to the needs of your market is to change your strategy by 10% every time your review it. This 10% change permits you to upgrade your strategy to be applicable with the times, yet is still small enough that it shouldn’t shake the core of your organization. By making small changes with time, you will see that your business will move more easily amid evolving markets.

You should stay ahead by anticipating change. The greatest thing that any business can do to ensure achievement is accurately forecasting what will happen in future within their specific industry. Similarly as with the news organizations, incorporating the web into their business model was the change numerous associations required to make so they could stay pertinent to client needs. The companies who were early adapters and rolled out the changes years back found the transitions much less demanding as customer inclination started to intensely support digital content.

By staying aware of innovation and customer changes in your field of business, you can introduce new improvements into your organization early on, rather than catching up to the technology after your competitor has already adapted it.

Tips to Increase Customer Interactivity on Business Websites

Customers are the primary requisite to make any business survive for long and thus, it is necessary for the businesses to attract customers and maintain a good relationship. With customer engagement on your site, you can easily grow your business and design it in a way that it can fix the needs of audience. The time has gone, when people used to engage customers by sending emails; customers are no more interested in one sided communication. Online presence is not enough; you need to be interactive regardless of your business level!

Where and how to engage audience?

  • Technology provides us with heaps of approaches to get engage with audience online and social media is the most effective way out of them. If you are socially active, you can easily reach to the audience and keep them updated with your posts. But be careful; do not post same stuff frequently. You have to bring variation in the posts to stop staling. By shaking it up, you can observe – what kind of posts get maximum response by the audience.
  • Conduct quizzes and offer prizes and perks to the participants in order to generate interest. Everyone loves to be awarded and rewarding audience for engaging helps you build loyalty. Another thing that you can also try is asking the visitors to caption photos or share your posts and offer them special discount for doing so.
  • Create a twitter account and talk about the things that interests you, share pictures, and respond to the audience posts. It will make people feel connected to you. If you are an Instagram user, keep a track of people behind your business and take full benefit of re-gramming a post.

What is the ideal time to post on social media?

You must be consistent on the social media platform you are using. But keep in mind, posting so often can make people sick of seeing your posts every now and then. Understanding when to post is as essential as understanding what to post. Being a market expert, you must know your audience and create audience specific posts accordingly. How often you should post is highly depend on the site you are using. If you are a Pinterest user, post four times a day, whereas three posts a day are okay for twitter account holders. Facebook users must keep the interaction as minimum as possible.

Many social sites have analytic tools to offer. Additionally, some special tools are also available enabling you to determine how good your posts are. With the help of these tools you can also check Facebook insights to know who are interacting with your page. We hope this information will aid you keep the customers engaged for long on your website.

Business Planning Of Company

General Description Of Organic Pabulums

Mission, goals and objectives of Organic Pabulums

The mission of the company is to deliver organic food item to customers as per their orders and carry out the business transactions with implementation of the advanced technology of as well as giving importance to the traditional retail marketing strategy (Barrow, 2011). The mission of Organic Pabulums generated the objectives to be followed and the goals to be reached.

The objectives of Organic Pabulums are as follows:-

  • To maintain quality in the organic products.
  • To become successful in keeping the commitments made to the customers. The orders which will be placed online online marketing must be reached to the customers within time and with proper care. Moreover, the customers who are interested to visit the retail store and pick the organic food items by their own hands can do that too. Thus it will serve to categories of customers and thereby meet their needs.
  • To provide customer satisfaction and customer’s reliability upon their services.

The goals of Organic Pabulums include reaching high target sales and each year the goals will be modified to cross the previous year’s sales and move forward on the way to success.

Philosophy of Organic Pabulums and the users of its market

Each and every business possesses a philosophy and this is not an exception. The business philosophy of Organic Pabulums is to compete with the previous personal records and to consider the personal business mistakes as the guidelines to modification and rectification. The company never compares the sales with any other concern but always attempts to cross the previous record of sales of the own firm. The challenges that are faced on the way to proceed in the business world are considered as miles stone to reach success (Barrow, Barrow and Brown, 2012). One more major point that must be included in the philosophy of Organic Pabulums is meeting the needs of all kind of customers by offering versatile retain services of organic food products. This will make the market provided by the organization accessible to all people with variable mentalities which is indeed a plus point for the company.

Description of the industry

The project of Organic Pabulums will surely be useful for countless people. Common people will possess an option in marketing organic food products from this company as they can avail online marketing as well as come to the store, visit the products, examine and buy as per their choice. As soon as a single customer will be satisfied, the message of this satisfaction will be shared among numerous people and same way a number of new customers will be the benefiters by this firm. This, growth of the company is highly predictable and thus it can be termed as growth industry. Customers may report about changing a strategy in the online marketing domain which can be considered as a short term chance. Thus customer support section will be there to value the reports of the customers. On getting high benefits from the services of Organic Pabulums, the customers may demand to include some more categories of products apart from organic food products. This is a long term change and the company must predict the outcomes of the change before planning to implement the change.

Strengths and core competencies

A research has been taken via personal interviews and telephonic interviews to various groups of people. These groups include housewives, working women, students, aged people, and people covering all other categories. The analysis of the interview infers that the entire mankind has rising needs to buy and use organic food products and they desire to solely depend on this food type in future as it is the only natural way to lead a healthy life. A prediction can be made that this business will not meet downfall in future and the rising needs of organic food products will result to the growth of the company (Blackwell, 2008). Thus, the type of the product to be sold by Organic Pabulums brings the greatest competitive strength for the firm.

Legal form of ownership

The form of ownership of Organic Pabulums is sole proprietor. This form of business is chosen as the initiative and effort to execute this business is only of a single person. Moreover, the investments made to make this business stand are also from a single source. It is neither a sub part of a limited organization nor involves partners in supporting the business (Brockhouse, 1989). A single person is solely responsible for maintenance, execution, profits, losses and all tit bits of the business. Thus the form of the business is termed as sole proprietorship.

Myths About Business Planning

Business plans have always been synonymous with entrepreneurship, largely because they act as a bridge between entrepreneurs and investors. The primary function of a business plan is to outline an investment opportunity, so a prospective investor has the required information they need to assess its attractiveness.

However, this is not the sole purpose of a business plan. They can also benefit entrepreneurs well beyond this narrow interpretation, helping them to manage cash flow, to set goals and milestones, to prioritize tasks and in helping them to deal with uncertainty.

However, an increasing number of entrepreneurs are eschewing business plans for a whole host of reasons, which are ultimately to their detriment.

Let’s look at some of the excuses entrepreneurs come up with.

Myth: Who needs a plan? It’s all in my head.

Surprisingly, I have met several entrepreneurs who think in this direction. Well…Let I take an opportunity here to tell you that “PLANNING IS A MUST”. There’s in no alternative to it. When you are working on an idea it might not need a plan but the moment you want to turn it into a venture the overall process becomes complicated by many folds. Understanding your dependencies, schedule and budget is as important as breathing in case of entrepreneurs. Documenting your plan is extremely important. “You cannot have the complete plan in your head”; if you do then it will change constantly with your thinking and there is no way to track and monitor your business. Every successful entrepreneur has a plan. If you don’t believe in planning, better start believing in miracles.

Myth: Planning is such a hassle. Who has the time?

Planning definitely takes time, I would say the longer it takes the better it is. During planning, we brainstorm to understand the scenarios the business might face. It enables us to identify the activities and also equip us with the ammunition to face any kind of hurdles. Planning also ensures that we have a clear enough idea of what we are doing and why we are doing it. If anything goes wrong, without a plan it’s very difficult to identify the root cause and even if we understand the problem, it’s too little too late as we usually haven’t prepared for it. My suggestion would be give it time, invest in planning, rather than going about like a headless chicken trying to get it right.

Myth: Business Plan is only useful for getting funded

We all know the importance of having a well drafted business plan in the fund seeking process. Especially if you are seeking funds from private investment institutions like venture capitals or angel investors. But there is a notion about business planning that it is only useful for fund seeking which is a complete myth. Business Plans help primarily the founding team to ensure that their idea is documented in a structured format. It acts as a starting point to the overall journey. Business plans help in getting strategic alliances, collaborators, advisors and future team members. A business plan cannot be viewed as a simulated document; rather it’s documentation of the reality and to some extent perceived reality.

Myth: Planning is restrictive. It takes away the flexibility.

A plan is a strategic overview of the transition from idea to implementation. Plans are based on assumptions and perceived reality. Not every scenario can be captured in the plan right from inception but most can be. While you are driving your business, certain parameters might change. Based on you operations you must update your plans, revisit them. Business plan is a flexible bible. It gives the entrepreneurs the chance to monitor their assumptions and correct them. Without a plan it is very difficult to understand what’s actually going on. If you treat the planning to be a onetime exercise then the overall purpose is defeated.

Myth: Planning should not have a budget. No need of seeking professional help.

As an entrepreneur we all come with certain skill sets. Entrepreneurs know their business the best as they are the creator of the idea. But while transforming their ideas to a venture there are some implementation hurdles. There are two ways of going about it; try and learn from the errors and get professional advice. As a practice, we should chalk out a planning phase, not too long and not too short as well. The planning phase should be long enough to give you a workable idea of what needs to be done. There are certain areas of the business like industry knowledge, market analysis, strategic initiatives which are widely accepted depending on industries. Reinventing every bits of business would involve a huge research and development with the chances of success diminishing. If there are grey areas which seem like a potential hurdles for implementing your idea, you should always set aside a budget to seek professional support.

Having all these in mind you must remember that a business plan is a strategic roadmap. It’s the starting point of your venture. It is not are placement for the hard work, perseverance and passion entrepreneurs have. It just ensures that your efforts don’t go to waste.

How To Be An Effective Manager

Being a manager requires a unique set of skills. Being an effective manager requires an even more unique set of skills. You have to possess interpersonal skills, technical know-how, time management skills and the ability to mitigate problems. A manager is also crucial for the team. He or she is responsible for the performance and productivity of the team through various different projects. Let’s take a look at what essential qualities and policies differentiate a manager from an effective manager.

Open Door Policy

This is a must to become a good manager. An open door policy encourages team members to approach you with problems. It makes the project management process much simpler since team members can comfortably communicate with the manager. Marketing managers should especially employ this policy since a there is a lot of creative work and analytical work that goes into creating a marketing strategy for a client or product. This policy allows quick communication.

Comfortable Working Space

Gone are the days when cubicles were the only way an office could be furnished. These days, an open office space punctuated with comfortable sofas and beanbags is the way to go. With a comfortable working space, team members can find a spot that allows them to focus on their work and do it effectively. The open layout is also much more beneficial that having a stuffy, cubicle filled office space.

Collaborative Environment

A team must learn to work closely amongst itself. For this, a manager should invest in project management software. Such tools allow team members to work on shared tasks without disrupting anyone’s schedule. Zapty.com is an online collaborative workspace that lets team members chat, share documents, conduct opinion polls and ask for approval on various matters and also run projects and marketing campaigns. It eliminates the need to shuffle between various tabs and allow members to focus on the task at hand. With easy access to one another, the team will pick up speed and produce the required results.

Appreciation And Motivation

Always make sure your team members know how much you appreciate them. This is a great way to boost their confidence and let them know that you, as a manager, know how hard they work. Motivate them during each project to bring out their best. Remind them that the end result, if successful, will be a team effort where each one of them will have contributed something. Plan team outings to foster team spirit and let them let their hair down once in awhile.

How to Make a Business Trip Run Smoothly: Five Tips to Live By

Business trips are already stressful. Business men seem to be constantly on the phone as they arrange their day around important meetings, struggle to guarantee that they have the proper transportation arrangements to and from every single airport and then they still have to prepare for the actual business meetings. There are quite a few things that can cause unnecessary stress on a business trip, but living by these five tips will help every trip run a little bit more smoothly.

Airport transportation

Some limo services offer worldwide service, which can be a huge relief. No matter where a business person travels, he can rest assured that a reliable limo will be waiting to pick him up from the airport. Most airports also offer shuttle services if they are located nearby the hotel. Having a chauffeur is a nice convenience, but it is not always necessary. Many businesses in the rental car industry offer convenient pick up services as well.

Making sure that reliable transportation from the airport to the hotel may not seem like a big deal, but it can save the day if there is not a taxi service available.

Business Amenities

After leaving the airport and stepping out of a limo, most people on a business trip want to relax. By the time that they realize that the hotel does not offer what they need, it is too late to get a refund, and this will cause some unnecessary stress.

Most hotels offer at least a few business amenities, such as high-speed internet. The less common ones, like a fax machine, may not be available for public use. Individuals that are about to take a business trip can help eliminate this stress by calling to check that hotels have everything that will be needed before making a reservation. If conference calls will be done via Skype or another similar program, it is important to ask about how fast the internet is as well.

A Flight Bag

Right above the importance of reliable limo services is how comfortable the flight itself is. Instead of being one of those people who boards the plane and then has to search around for everything that they will need on a long flight, be one of the people who has everything that they will need in a bag that will fit under the seat.

Make sure to include reading material, headphones, a phone charger and a laptop if it will be used. For those that are going on their first business trip, take the time to do some research about what you should, and should not, bring.

Eating

Eating before getting on a plane will mean that there is more time for sleep. Simply boarding a plane and then drifting away in a peaceful sleep to wake up and only have an hour left to go sounds like pure heaven, and this is what most people should strive for. This can help to drop jet lag, and leave a person ready to go as soon as the plane lands.

Eating is something that should also be considered while on the business trip. Individuals are encouraged to take the time to check out nearby restaurants before they book a hotel room, and call to ask about services at the hotel that they plan to stay at. If there is a current renovation project going on that eliminates room service for guests, it will be nice to know before arriving.

Business trips seem to be known for being stressful and full of eating in a limo while talking on the phone on the way to a meeting. Business trips can be made that much easier by following some of these business tips, like making sure to pick reliable limo services and sleeping on the plane.

Business Trends to Leverage in 2017

There are several business trends on the horizon which may be carried in by the New Year. Being aware of these trends allows you a great opportunity for planning in advance so that you will be able to leverage those trends for your benefit prior to the new year rolling in. The following is a sneak peek at what you can expect in 2017.

1. Businesses are going out of their way to attract top talent thus increasing the importance of doing whatever necessary to make yourself appear amongst the cream of the crop. The best way to do that is by acquiring as many skills as possible to both perform the job you’re applying for and beyond. You should also be willing to go over and beyond the call of duty, be willing to bring a lot more to the table than what’s required, and to also be able to display your willingness to do so when communicating with potential businesses – during interviews, on resumes or on social media platforms.

2. More and more businesses are turning to social media to get a glimpse at potential candidates before making their final hiring decisions. They believe that what appears on social media sites is more of a tell-tale sign about what’s really going on with respective candidates. This trend has become a form of due diligence for businesses seeking candidates.

3. In 2017, companies are leaning more towards being flexible in the workplace, allowing their staff members to have flexible work schedules so they can perform some of their work duties from home.

4. Although hiring staff members based on referrals is not new in the marketplace, it is certainly ramping up. It has become a reliable trend that companies have grown to depend on. It not only reduces the recruitment process, but it also comes from a trusted source – professionals within your micro-environment. Considering that 32% of new hires came from referral sources, this trend is certain to spill over into 2017.

5. Another business trend that is on the horizon for 2017 consists of what’s referred to as emotional intelligence which is an area that new employees should consider adapting to.

Emotional intelligence, also referred to as the game changer in new business trends, involves businesses being more open and transparent. Candidates with emotional intelligence are said to have more flexibility than those who are not developed in this area. This results in employers being more drawn to candidates when they can demonstrate this important skill set.

Those who are good at simply performing their job duties are only meeting the minimum requirement. But those who can demonstrate the ability to be likable, outgoing and trustworthy, as well as perform their jobs efficiently, tend to fit into the corporate culture a lot better. This is what businesses are going for and it’s becoming a new and growing trend.

To sum up, top candidates are becoming more demanding and the new business trend is to hire those who best represent the company. Therefore, it is very important to understand a) there’s fierce competition in the job market and b) it’s important for new candidates to bring their ‘A” game into the workplace.

7 Way to Find Investors For Your New Business

If you have a solid business plan, you may want to look for potential investors. While this is a difficult step, you may want to stay ready. It’s suggested that you should talk to hundreds of potential investors before choosing the right one for your new business. Here are a few good ways to look for the best investors.

Start-up Launch Platforms

You can contact companies that offer research, information and assistance to new business owners. They help you start your business and look for the right investors. These companies have millions of members all over the world. So, you can get in touch with a good company that offers these services.

Angel Networks

Another way is to look for angel investors. They will offer funds in addition to provide advice, mentorship and access to valuable contacts. As a matter of fact, this is all what you need in order to get your business started and then run it with great success. Make sure you do try out angel networks. These organizations have a list of tons of angel investors who help new businesses with their funds.

Crowdfunding Sites

Just like other sources, crowdfunding sites give you access to different types of good investors. They include common people who want to be part of the next big thing as well as philanthropists who want to help others with their dreams. Aside from this, crowdfunding sites may include accredited investors looking for fresh ideas for investment.

Actually, each site has different focal point for incentivizing investors. Therefore, we suggest that you read up on each site to choose one that aligns with the powerful strategic goals you have set.

Incubators And Accelerators

Since your new business is like a baby, you need to work with a good accelerator or incubator. This way you can get the investor resources to grow your business. These investors perform a big role and help you turn your ideas into a business.

At times, some incubators and accelerators provide physical space so you can establish your office. Since other start-ups will share the same physical space, you can share ideas growing your businesses together. Start-up accelerators like Ycombinator and TechStars provide advice and many other services to investors like you.

Small Business Administration

You can also contact the Small Business Administration for funding. The organization has been offering solid programs for the stimulation of the economy. Basically, they offer loans and grants to small start-ups.

Social Networking Sites

Aside from LinkedIn, many social networking websites can help you get in touch with different types of investors. These sites help you to contact investors all over the world. Moreover, they promote your products or services in other countries of the world as well. Some good names in this field include Meetup, Cofoundr, Startup Nation and EFactor, just to name a few.

Private Equity Firms

If your start-up has great potential to grow into a big business, private equity firms can help you. They can provide you with millions of dollars so you can grow your business. You can check them out as well.

Manage Stress In Business To Succeed

Business has its crests and troughs. Naturally, there is an element of stress in business. When you do not do well, stress can accumulate and bring you down even further. Therefore, a successful businessperson is one who is able to manage stress. You can never avoid stress. Managing stress is the key to becoming successful in business. I have shared some methods that can help reduce stress during the course of this article.

Relieving Stress

First, money is important, but not everything in life. You will have to learn to take the losses in stride. It is easy for anyone to preach. Nevertheless, one can reduce stress by having an open mind. This open mind allows us to absorb the losses as part of life. If you manage to do this, you have won half the battle against stress.

Ascertain the facts:

When you are suffering losses, something has gone wrong somewhere. It is advisable to ascertain the facts and analyze your mistakes with a cool head. This will enable you to plan well. When you realize your mistakes, you will not repeat them. Thus, you can find ways to beat the stress.

Identify the cause of the stress:

Stress can be of two types. When you start worrying about things you are afraid of or do not wish to happen, you accumulate ‘Bad Stress’. At the same, when you stress over real issues, you experience ‘Good Stress’. Distinguish between the two stresses and prioritize your fight against stress. This will make your life easier.

Take the advice of experts:

When you take the advice of others, you are simply sharing your burden. Your shoulders become light thereby enabling you to think fresh. At the same time, you get a third party perspective on things. A financial expert can suggest some beautiful ways to get away from financial stress. Taking the advice of such people is always beneficial to you in the end.

Pause and proceed:

This is one of the time-tested methods of relieving stress. Taking a pause or a deep breath can help you analyze things with a cool mind. You usually end up finding the solution to your problems almost immediately. Relaxing your mind and body is essential. If possible, take a break and go for a nice holiday to recharge your batteries.

Take care of your health:

There are many things in life more important than money. The sooner you realize and accept this fact, the better you will start to feel. Your health plays a great role in relieving stress. Taking care of your health is of paramount importance.