The question is – Why did you choose a particular profession? Were you tested scientifically in our childhood about your aptitude, or whether it was your family profession, or you wanted to become one because you had fancy for that, or you had nothing else to chose so you chose your current profession?

Along the way in life, we stop asking these questions and continue doing what we are doing. We never think about why we are doing a particular kind of job. We never look around for total change in the job. For example – an engineer would very rarely think about dropping out of his/her profession and becoming a full time musician. Why?

why most of us don’t think about changing our profession altogether? Why don’t we think in that direction at all? One reason is to maintain status quo, which gives us comfort. We want to live in our comfort zone. The second reason is that we never question ourselves- Am I in a profession that I like fully? Can I choose another profession that will give me more success and joy?

Please think about what I have said and rethink about your profession. You may find something else that may give you not only satisfaction but great success.

When a member of your staff is injured, the first step will be figuring out whether the employee was in the course of employment. If the employee was hurt on the job, then they have the ability to file a claim. This will put the ball in the court of the business owner. They will have to pay for any medical damages that might arise as a result of the accident. They could also have to pay for lost wages and other damages. The potential price tag is very high, making this a truly high stakes game.

Small business liability insurance is a resource that exists to protect against this contingency. When something bad happens and a compensation claim is filed, the small business owner will submit a claim of her own to the insurance company. That company will then handle the investigation of the claim. They will take over to some extent, removing the hard work and stress from the already busy business owner. A small business owner with an adequate amount of liability insurance can be completely insulated in this situation. The insurance company will pay out the claim. This will benefit both the employee and the owner. The employee will get compensation for his injuries. The business owner can remain solvent and free of financial distress.

If you examine the electronic bill payment landscape you will note that the current usage surge is largely by the Generation X demographic, in spite of the fact that a single-source option is not yet in place. Forecasters thought that banks would probably be the single-source option, but there is still no solid consolidated infrastructure among those banks that have systems in place.  The way it’s working now is very much like the way automated teller machines (ATMs) used to operate, that is providing access only to certain cardholders with specific affiliations.

While banks are taking steps toward  consolidating infrastructure, in 2004 we will likely see a continued proliferation of individual organizations, where each has its own presentment and payment strategies and solutions.  Consumers will have to go to multiple sites to pay their bills, and for the short term will put up with that system.

For the long-term though, the single-source EBPP system is going to be the process of choice for consumers.  Eventually, they’ll want to receive and pay all bills electronically from the single site, but that won’t happen until the above mentioned consolidation.

Many banks will work overtime during 2004 to educate consumers about the benefits of online banking, because it will be a cost saving to them.  There is a lot o upfront costs to banks and financial institutions, the ultimate benefits of processing payments through the Fed’s automated clearing house (ACH) instead of through the Postal Service are immense.  It all boils down to a cost-saving issue.

I wonder how long it will take the average entrepreneur to embrace this new EBPP?  Will you and I be comfortable maintaining a web site or some type of electronic presence so that we can electronically bill our customers/clients for goods or services?  Perhaps this is how our forefathers felt when Henry Ford tried to replace the horse and buggy with his auto machine, but I must say I find a certain comfort in the good, old-fashioned “paper trail”.

I must confess that I do use the electronic trail on occasion, especially when I know the mail won’t beat the due date on my supplier’s invoice, but to transact all commerce via EBPP is another matter.  One must admit however, that at least 1/3 of our office space these days is dedicated to files filled with paper.

Still, that old “paper trail” is comforting – much like the cookie crumbs dropped while walking in the woods that assure us we’ll find our way home again.

]]> http://www.a-discerningbusiness.info/?feed=rss2&p=38 0 http://www.a-discerningbusiness.info/?p=34 http://www.a-discerningbusiness.info/?p=34#comments Mon, 12 Dec 2011 12:03:40 +0000 admin http://www.a-discerningbusiness.info/?p=34 A personal crisis doesn’t have to spell disaster for your business if you’re prepared.  Every business occasionally endures a crisis, but what happens when your dilemma isn’t falling profits but personal.

Because we have no idea what type of personal crisis may await us – an ugly divorce, debilitating disease, or ailing parent/child/spouse, we must be prepared. Just as you plan for advertising and promotions, you must plan for life’s surprises.

Paul Krasinski, founder of Lion Strategy Advisors, New York, suggests finding somebody NOW who can take over your responsibility and carry on for at least 20 days.  He/she needs to be someone who can communicate well with staff and command respect, and may or may not be the person you feel closest to in the company.

Once a personal crisis hits, Krasinski recommends “full disclosure” to your employees. This avoids the feeling of being hit by a bomb, and that business will go on as usual.  In case you think this doesn’t work, let me give you a case history.

Dana Weidaw, 28 and president of her own PR firm had only been in business 1 year when she tested “full disclosure” with her employees.  She was diagnosed with an aneurysm which required a surgeon to drill through her skull.  She had just landed her first major client and was publicizing a major hockey arena.  If all didn’t go well with the project, this client could turn out to be her last.

Before missing 7 days of work, Weidaw prepped her full-time employee, another agency she was working with, and her client by sharing the nitty-gritty details of her crisis.  She assured them everything would run according to plans and smoothly in her absence, and found that everybody was willing to work around her crisis.  Weidaw found that, by nature, people are very sympathetic.

A word of caution though, you need to know when to talk.  During and after a crisis – full disclosure is great.  If you’re “contingency” planning though, it might be prudent not to advertise that if your personal life goes in the tanker good old Gary or Suzy will be in charge.  Your employees may needlessly dwell on why they weren’t picked to run the show instead of them.  Above all, you don’t want to cause widespread distress or distract your staff from day-to-day operation.

Just as surely as you plan for financial allocations for your business, always have a crisis plan in place.  This may need adjustments from year to year as staff leaves and are replaced, so when planning for each year’s business needs include your crisis plan.

Distribution is now largely in the hands of giant corporations such as Wal-Mart and Costco. There are more brands and fewer producers, products “life” have been shortened, and it’s cheaper to replace than to repair – all complicating the process further.

Marketing has always started with identifying the needs of your customer, but many companies are now focusing on the product.  They focus on what category it falls into, and then what sub-category (for instance pudding and then what flavors). By focusing on the product, companies then focus on who’ll use the product, and those considered “not using” are excluded from the picture.  In doing this, you’ve just given your competitor a target market.

You may have captured 75% of your “user market” because you have a USP (unique selling position) i.e.; more flavors, more convenient packaging, longer shelf life, etc.  But why can’t YOU also take care of the other 25% instead of your competitor?

To do that, requires a new way of thinking known as “Lateral Marketing”.  Stop thinking about how you can keep the 75% in love with your product (Vertical Marketing), think about drawing in the 25% of the market that wasn’t your customer.  This is done by innovative thinking.  This may be seen as further “segmenting” the market-place, but at the same time it’s making it bigger.

 Let’s say you sell soap.  You’ve captured 75% of your market because of some formulary development that makes more suds with less product.  The 25% that your competition is trying to capture would rather spend less for soap, than use less.  Your method of also capturing that 25% is to start thinking “innovation” and not different product.

Lateral Marketing works within the original category of product and complements it, not competes with it.  You could come up with a soap with more bleach, with less foam, fragrance free, with more foam.  You can innovate by size – selling in large economy packs, selling in individual packs, and do this without ever changing the formula of the product.  This type of marketing works best for mature markets with no growth (after all, what new uses can you come up with for soap).  It also can create markets from scratch, requires greater resources, and may redefine your company’s mission and business focus.

This innovative method of marketing doesn’t create “new” categories or markets, it always occurs “within” the category where the idea originated.  If you’ve done everything right, you’ve garnered the 25% of customers that might have got away and it didn’t require a lot of overhead – you’re still producing soap!

Most entrepreneurial business owners need a guide to navigate their way toward substantial, sustainable growth.  It can be done even in a slow economy as demonstrated by such companies as Harley Davidson, Starbucks, and WalMart.  Even smaller companies such as Paychex and Oshkosh Truck have been able to make gains in revenue, gross profits and net profits.

Here are 5 disciplines of sustained growth:

1. Retain Your Customer Base:  Keep the growth that you have already earned by coaxing customers into complex relationships that make it a hassle for them to switch to your competitor.  Tailor your products/services using data gleaned from your customers giving you an advantage.  Proactively managing customer defections will help you anticipate and pre-empt them. Bonding with customers wherever emotion is tied to an interaction is another great way to retain them.

2. Gain Market Share at the Expense of Your Rivals: Give customers a reason to abandon a competitor’s product/service for yours.  Do what it takes to lower the switching costs.  Pulling customers away from a competitor can be difficult, so you must devote many resources to raiding their customer base.  Offering higher value and quality are crucial to this end.  Buying a competitor is another way to do this.

3. Exploit Market Position:  Show up where growth is going to happen by spotting it early.  This can be done by watching the industry for shifts in buying criteria, product or service innovations, and population trends.  You must be able to spot positioning opportunities to make the most of them by continually using a systematic approach to the process.

4. Invade Adjacent Markets: Before moving into a nearby market, decide whether it offers significant long-term growth and profitability.  Determine whether you have an advantage over a competitor, and ensure you can match its standards of quality and value.

5. Invest In New Lines of Business:  If you take this approach, never overpay for a new line.  You must find simple strategies instead of complex ones, and partner with the new business by assessing its leadership team and balance sheet.

Although a successful growth portfolio might not include all five of these disciplines, it must contain more than one.  Only a balanced growth portfolio can keep an organization growing when the market shifts dramatically.

In closing I wish a happy and safe Memorial Day to all my entrepreneurial buddies and readers. Drive carefully!

A man at an interview should always wear a long sleeved shirt either in white, cream or pale blue.  Monograms are not a good decision on the first interview.  If you tend to perspire often, cotton shirts are the way to go professionally cleaned and starched.  The higher the cotton content, the better the shirt will look.  Make sure your shirt fits the neck properly and that the sleeve cuff ends just at the wrist.  All your interview clothes should be professionally cleaned and pressed and ready to go.

Ties that are cheap looking do not give off a good first impression.  A pure silk tie makes the most powerful professional impact, has the best finish and feel, and is easiest to tie well.  The tie should complement your suit, not match it.  No outlandish, flamboyant ties are necessary.  The length of the tie should be extended to your trouser belt.

Shoes should be brown or black leather.  No other materials or colors are acceptable.  Socks should complement the suit, blue, black, gray, or brown.  A briefcase is a symbol of authority, which makes a strong professional statement.  Brown or burgundy are the colors of choice.

As with women, men’s jewelry should be kept to a minimum.  No visible body piercing or tattoos -if you can help it.

This clean cut, well manicured image says a lot about a professional man.  He should smell wonderful, have a nicely trimmed hair cut and appear clean and crisp.  Good luck.

Nowadays there are so many people who succeed and generate a lot of money but on the other hand they do not understand the true meaning of life so they take advantage of that success in a way that is not good. You can find out everything related to that market. You will find various kinds of information about online shopping. You will not be disappointed and lose because you’ll get some service from the online services. You do not need to use cash to pay for your groceries because you can do money transfer through bank.

Hope it can make happen when you have another chance to see the results more pleasing. You can see further information and simply by visiting a site that has been provided so you will understand how to learn it. ? You definitely want them without requiring a lot of things that can make you more comfortable to improve something that is most interesting in making the work. This can make it easy for you so that you only need a few things just to be able to do online shopping with the best possible way. This market provides a wide range of needs and in it the same as the goods sold in other markets but the market is indeed more convenient and affordable.

Lifestyle goals such as exercise and healthy diet have to become habits in order to be effective.  Career change also takes time and planning, and it doesn’t happen overnight.

Your world has shifted.  There’s voice mail, e-mail, pagers, and faxes that have made a “waiting” period unacceptable and almost obsolete.  With information immediately available, we expect relationships and goal achievement to be done the same.  As you read this you know that it is unreasonable to expect that, don’t you?  We’ve been led by advertisers to believe that we deserve immediate gratification, and that it is readily and effortlessly available!

When you want to train a puppy, you know that it’s going to take time and consistent reinforcement.  You’re ready for that, because you want your puppy to behave in an acceptable way.  Why then, are you so patient with the puppy and so hard on yourself?

When you plant seeds in the garden, you tend them, water them, hope for sunlight and nurture them.  Are you nurturing yourself?

The best way to move gently and effectively towards your goals is to take a reasonable approach.  Break your long-term project goal into sub-goals.  Break it into doable, short-term chunks.  Today prepare the soil; tomorrow plant the seeds.

Each action you take and each step is satisfying because you know that it is contributing to the completion of your goal.  You cannot rush Mother Nature with your garden, and the same is true for your goals.

This process is much more than “bloom where you’re planted”, because when you’re the gardener you choose what to plant and how to nurture it.  Do the same for yourself, and grow yourself beautifully.  Your goals will be accomplished in due time, and you won’t end up up-tight and frazzled.

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