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Think about what gifts to give to business clients

Jul 26 2010

Posted by Gordon as Business Concepts, Business Enhancements, Strategies, Tricks of the Trade

Businesses who are going to give gifts to valued clients should do their homework when it comes to the type of gifts they plan to give. This, after a Royal Mail research revealed that presents that are ill-considered can actually damage a business relationship.

The research said that about 57 per cent of businesses felt that less than 5 per cent of gifts that were sent their way last year were designed with them in mind. But more telling was that 34 per cent said they will feel that their business is really important if a supplier sent a ...


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Check out your competitor

Jul 19 2010

Posted by Gordon as Business Concepts, General Management, Strategies, Tricks of the Trade

Studying your competitor is one of the most important responsibilities of an entrepreneur. By gaining knowledge about a competitor they will be more equipped to handle the competition. But how do you go about this function especially if you have limited financial resources? Company formation and business solutions experts agree that it doesn’t necessarily have to be expensive to study the competition. Some of the competition-studying tactics that can be done are: • Study the competitor’s website • Talk to the competition (depending on the sector, this is possible but you must follow certain etiquettes) • Ask friends and associates • Investigate the competitor’s SEC papers • Use ...

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Start-ups need long-term vision

Jul 12 2010

Posted by Gordon as Business Concepts, Business Enhancements, General Management, Strategies, Tricks of the Trade

The usual problem of trying to find funding and finance to set up a business is no longer the biggest barrier to enterprise. This was the finding of a poll of early stage start-ups that overwhelmingly rated credit management as the biggest obstacle. The study was carried out by the Better Payment Practice Group (BPPG) as it polled over 200 small enterprises about the difficulties they have experienced in starting and operating a business into a thriving success. A similar small business enquiry made by Enterprise Insight, the group behind the forthcoming Enterprise ...

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Naming a business – a few tips from experts

Jul 05 2010

Posted by Gordon as Business Concepts, Business Enhancements, Company Formation Tips, General Management, Off Shore Companies, Strategies, The Sole Proprietor, Tricks of the Trade, UK Companies

In an earlier post, we reported that most UK small businesses are no longer seeing the need to name their companies based on their family names. In the survey conducted by British Gas Business , 74 per cent of business owners now prefer more memorable names that are not related to any kind of family ties in forming their business . According to British Gas Business’ commercial director, Adrian Harvey said “Small businesses have to punch above their weight to compete against larger competitors with more established brands. A company’s name plays an important role in ...

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Competitor One-upmanship: Devise the Plan

Jun 28 2010

Posted by Gordon as Business Concepts, Sales and Marketing, Strategies, Tricks of the Trade

One of the most common pitfalls for business owners is to make marketing plans without any competitor information. This is akin to devising a battle strategy without knowing who your enemy is! An effective marketing plan is based on information. The better the information, the more effective the plan. Analyse your competitors’ strengths and weakness. Their strengths are the threats to your business, and their weaknesses are your opportunities. Be as objective as possible, since this will be the backbone of your whole plan. A subjective view can break even the most well-thought out plan because ...

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Competitor One-upmanship: Resource Management

Jun 21 2010

Posted by Gordon as Business Concepts, Sales and Marketing, Strategies, Tricks of the Trade

Now that you’ve done research and devised an impregnable battle plan the final step would be to “amass your forces”, so to speak. This is where your available resources and how you manage them will come into play. At this stage, it will be important to determine how your competitors are using and managing their resources . But this is not a battle to overwhelm a competitor with sheer numbers, rather it is a conscientious allocation of available resources. Use just enough to get the job done and follow your marketing strategy without any wastage. The question you ...

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Competitor One-upmanship: Perception is Key

Jun 14 2010

Posted by Gordon as Business Concepts, Sales and Marketing, Strategies, Tricks of the Trade

In the battle for market share and domination over your competitors, the right information can be your best defence and most potent offensive weapon. Now that you know who your competitor is, with an intimate knowledge of what makes him tick and how he is placed in your market, the next step would be the battle for perception. This is where inspired marketing, clever information dissemination and a feel for the pulse of your market will come into play. The questions that you would need to ask when dealing with perception is: How does my competitor position himself? ...

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Competitor one-upmanship: Know your Enemy

Jun 07 2010

Posted by Gordon as Business Concepts, Sales and Marketing, Strategies, Tricks of the Trade

Business is a chess game. As you plot your moves, you also need to anticipate your opponent’s plans, and block them — knowing full well that he is doing the same thing. Sun Tzu said it best: “If you know your enemy and know yourself, you need not fear the result of a hundred battles.” This kind of strategic thinking lets you stay two steps ahead of competition. The first question to ask is: who are my competitors ? Direct competitors offer the same product or service to the same market, e.g. two travel agencies selling tickets to ...

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The anatomy of a successful entrepreneur (Part 2)

May 24 2010

Posted by Gordon as Business Concepts, General Management, Strategies, Tricks of the Trade

Company formation professionals and business solutions experts agree that the entrepreneur plays a very big factor in the ultimate success of any start-up business venture. The successful entrepreneur must acquire certain characteristics that would ensure that he has the right disposition to handle his business and face any obstacles that may come his way. Here are some more characteristics a successful entrepreneur must possess: Goal setting – The willingness and ability to set realistic yet specific business goals. It also means having the foresight to make the necessary plans to achieve the goals that have been set. Flexibility ...

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The anatomy of a successful entrepreneur (Part 1)

May 17 2010

Posted by Gordon as Business Concepts, Strategies, Tricks of the Trade

There are many factors involved in making a business successful. But there is a common misconception that most of the factors that do matter are all external – part of the environment of which the entrepreneur has no total control. But both company formation and business solutions professionals agree that the most important factor hits much closer to home. It is the entrepreneur himself who is the initial barometer of business success. In order to prepare for success an entrepreneur has to acquire the following characteristics: Innovation – Entrepreneurs should have a creative mind and be ...

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