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Case Upon - Before You Take the Entrepreneurial Plunge, Consider Various Business Models
Follow their methods to create your own fortune.What a privilege. Over the last weekend I attended an action packed Entrepreneurs Bootcamp on Internet and Direct Response Marketing.Do the names of these famous entrepreneurs mean anything to you?Ted Nicholas - Master author and copywriter, millionaire by age 25, multi millionaireYanik Silver - Brilliant Internet Marketer, multi millioniareArmand Morin - Search on Goolge and you will find his name on 744,000 pages! Multi millioniareDerek Gehl - Partner of the late Cory Rudl of Internet Marketing Centre fame, multi millioniarePlus other famous entrepreneurs, too many to mention.The event was in aid of a children's charity and raised in excess of ?400,000. It was created and hosted by Andrew Reynolds, from the UK, another self made millionaire, who has developed his 'Cash on Demand System' over the last 10 years netting a cool ?30,000,000 in the process.This is heady stuff and it really was a privilege to be able to meet with and listen to these masters.If you have been anywhere near the internet in recent times you must have come across some of these people, all outrageously successful in their own niche.All nice easy people, comfortable with what they are doing. Honest and open, sharing their ideas and techniques.A number of common themes came across;1. Anyone wanting to be successful in business today must have a presence on the internet.2. There are many different and varied ways to succeed online.3. Master the workings of some of the key structures of the way the internet works and you too will succeed.4. The returns can be immense.5. Words, how you use them and put them together in your business are vital to your success.The great men I have mentioned a
Some businesses sell undifferentiated products or services. This means that the product or service offered b
Imagine your blood racing as the previously closed doors of the executive suites magically open … because you know the secret words.The words that establish trust, build your credibility as the authority, and compel the decision maker to meet with you and only you.The words that get you face-to-face, high-level meetings, trim weeks off of the sales cycle and add tens of thousands of dollars to the size of the contract. Words that repeatedly level the playing field and position you as equal to your executive-level prospects.Words That Keep Gatekeepers From Asking Annoying QuestionsLike, "Who are you?" "Don't you know, he doesn't handle that sort of thing?" and "Could you send me something in writing?"To really "get" the power of the words you gotta know that your high-level prospects are consumed with finding answers to three pressing questions:1. How to increase revenues2. How to decrease expenses.3. How to quantifiably improve communications.To grab the executives' undivided attention you must quantify your ability to do one of these things. Use a number that's significant enough for consideration, a number that's not so high as to make him think, "Yeah, right."Here's How To Create The Benefit Statement, The "Phrase That Pays" … Big.Fill in the blanks about what your products and services do for your clients: "We (increase/decrease) __________ your (revenues/expenses) _________ by 20%."Then use the statement,• In your cold calls to company presidents• In your email signature• On the top of your faxable one-sheet executive summaryRecently, one of my clients came to me with this benefit statement:"Lighting the path for people and companies worldwide so that they can see the path to their dreams and goals. Our goal
First, there are product oriented businesses versus service oriented businesses. In the case of the former, questions arise as to the source(s) of supply, how the inventory is to be managed, whether the product is perishable, and how the product is delivered into the hands of the customer. The business may need a substantial physical infrastructure. In the instance of a product like new cars, you need a lot, a parts department, service and cleanup capacity, and a sales, financing, and administration area. You will also need lighting, security, and other amenities to ensure that buyers have a sense of confidence in the business. If you’re selling ice cream, you need to keep it cold; this implies freezers and refrigerated trucks, perishibility, and substantial energy bills. If you’re selling clothes, you need display and storage space for a variety of sizes and styles. In all of these cases, you need the product itself in inventory. You might also wish to categorize this type of business as having one other similarity among others of like kind: these are “brick and mortar” businesses.
Service businesses may also require “bricks and mortar,” so just because a product is not physically stocked or otherwise identified as tangible, one must not jump to conclusions. A day spa, a bank, or a hotel, are all examples of service businesses that are also brick and mortar businesses. Generally speaking, brick and mortar businesses rely on a “place” where they must exist, and acquiring such a place requires capital. The “place” characteristics of a given business may carry great weight in the eyes of its customers or clientele. It should not be a surprise that many hotels and apartment complexes invest heavily in lobby and entrance areas when designing their facilities.
One might expect that professionals such as attorneys would charge significantly more, or less, simply judging by the type of offices in which their practices are located. Let’s compare two hypothetical situations. The first is the instance of an attorney whose office comes complete with marble floors, collectable paintings, and an attractive, albeit somewhat pouty, reception area representative. We could then compare this to another attorney, whose office is combined with an income tax service and a small engine repair business. The difference between the two is about $300 an hour. There’s a reason that high profile celebrity defendants hire so-called “dream teams” for representation: they get positive results.
Some businesses sell undifferentiated products or services. This means that the product or service offered by
Employees spend almost half of their lives in office. It is like a second home to them. However, the only difference remains in the fact that in maximum part of the working population in UK spends sitting in the office. And it is due to this fact, selecting the right kind of office furniture becomes an integral activity. Not only to provide the employees a good working condition, appropriate office furniture, like computer desks, also lends a touch of professionalism to the ambiance.An employee is a great resource. Not just the aptitude, but this resource also comes with the attitude factor which makes this resource – the ultimate and the best. But at the end of the day, an employee is a human being and it is the primary duty of the employers to take care of their staff and their well being. The right kind of computer desks, adjusted at the right heights, with a support at the back of the chair is a must to keep employees fit and healthy.At the same time we can not discount the importance of space in the office. It is very important to have adequate space in the office for free movement, smooth to and fro and at the same time not affecting the sitting arrangement. Hence, the office furniture play a significant role in the premises of the organisation. Therefore, it is a must to have only office furniture, which are ergonomically designed to suit your premises.It is also very important to have furniture, especially computer desks, seats and equipments as per the requirements of the business. Yes, this is true – not every kind of business can have the same kind of office furniture. It also depends on the man hours spent sitting. For instance, in a call centre, employees are expected to sit for a longer period of time, therefore their requirements from their computer desks are different from that o
Service businesses may also require “bricks and mortar,” so just because a product is not physically stocked or otherwise identified as tangible, one must not jump to conclusions. A day spa, a bank, or a hotel, are all examples of service businesses that are also brick and mortar businesses. Generally speaking, brick and mortar businesses rely on a “place” where they must exist, and acquiring such a place requires capital. The “place” characteristics of a given business may carry great weight in the eyes of its customers or clientele. It should not be a surprise that many hotels and apartment complexes invest heavily in lobby and entrance areas when designing their facilities.
One might expect that professionals such as attorneys would charge significantly more, or less, simply judging by the type of offices in which their practices are located. Let’s compare two hypothetical situations. The first is the instance of an attorney whose office comes complete with marble floors, collectable paintings, and an attractive, albeit somewhat pouty, reception area representative. We could then compare this to another attorney, whose office is combined with an income tax service and a small engine repair business. The difference between the two is about $300 an hour. There’s a reason that high profile celebrity defendants hire so-called “dream teams” for representation: they get positive results.
Some businesses sell undifferentiated products or services. This means that the product or service offered b
There are many governmental jobs that are advertised almost every day through every medium, ranging from newspapers, to television and radio and even the Internet. This is because there are millions of government jobs that are available every time in the nation. However, there is one major problem that often comes to notice whilst relating to government job descriptions. This is that most government job descriptions are vague and not to the point. Besides this, they sometimes advertise for requirements that far exceed the actual needs of the job.The reason for bulking up the qualification in job advertising is simple: while the government wants to fill a managerial level position, they would advertise for it and seek the qualifications of a executive level position, hoping someone overqualified will apply and accept the job. It is hence very important to work through the clutter when talking about government job descriptions.One can do that by first of all knowing the true strengths that one possesses. It is easy to decide from there what field you would like to go into. Then one can decide whether one would like to go in for private sector jobs or rather opt for government jobs in that field.If one chooses to get a government job, one can search the newspapers and the various Web sites for the particular job. Often when you are not expecting it, suddenly a government job description pops that matches what you were seeking. Hence, it is very important to be an alert opportunist.Once one finds a government job description, matching what one was looking for, the next step is to understand the job profile, which most of the time can be extremely confusing. This is in fact, one of the major complaints that the government gets. However, there is nothing one can do about it and one needs to simply read the ad
Service businesses may also require “bricks and mortar,” so just because a product is not physically stocked or otherwise identified as tangible, one must not jump to conclusions. A day spa, a bank, or a hotel, are all examples of service businesses that are also brick and mortar businesses. Generally speaking, brick and mortar businesses rely on a “place” where they must exist, and acquiring such a place requires capital. The “place” characteristics of a given business may carry great weight in the eyes of its customers or clientele. It should not be a surprise that many hotels and apartment complexes invest heavily in lobby and entrance areas when designing their facilities.
One might expect that professionals such as attorneys would charge significantly more, or less, simply judging by the type of offices in which their practices are located. Let’s compare two hypothetical situations. The first is the instance of an attorney whose office comes complete with marble floors, collectable paintings, and an attractive, albeit somewhat pouty, reception area representative. We could then compare this to another attorney, whose office is combined with an income tax service and a small engine repair business. The difference between the two is about $300 an hour. There’s a reason that high profile celebrity defendants hire so-called “dream teams” for representation: they get positive results.
Some businesses sell undifferentiated products or services. This means that the product or service offered b
I was just reading an interesting article that maintains that initial customer satisfaction with cars is positively correlated with their long-term dependability.So, if our rides are solid during the first 90 days, they’ll probably hold up well for the next three or four years, so they say at J.D. Power & Associates.Topping the article were photos of some reliable cars: the Buick Century, Toyota Echo and Acura CL., which are no longer made, by the way.If you study these pictures you’ll notice something dramatic: All three models are ugly.I have two pet theories: (1) Car makers TRY to make models ugly because that induces us trade them in more often; and (2) Ugly cars, for some unexplained reason, are more reliable.Just think about the most beautiful designs in history, many of which came from Jaguar, before it was acquired by Ford. The lines were gorgeous, interiors burnished and silky, and they rode pretty well, too.But they were always in the shop.Exotic and gorgeous sports cars are known to be finicky and expensive to maintain and repair.Recently, my head has been turning to the Range Rovers I’ve seen ambling down the highway. They boast clean, symmetrical lines, nice large windows, and a certain amount of grace and poise.And Range Rover is yet another impressive luxury nameplate absorbed by Ford.Where did it rate in a recent initial customer satisfaction survey?Dead last, but I’m coming to expect that from cars that are drop-dead gorgeous.
One might expect that professionals such as attorneys would charge significantly more, or less, simply judging by the type of offices in which their practices are located. Let’s compare two hypothetical situations. The first is the instance of an attorney whose office comes complete with marble floors, collectable paintings, and an attractive, albeit somewhat pouty, reception area representative. We could then compare this to another attorney, whose office is combined with an income tax service and a small engine repair business. The difference between the two is about $300 an hour. There’s a reason that high profile celebrity defendants hire so-called “dream teams” for representation: they get positive results.
Some businesses sell undifferentiated products or services. This means that the product or service offered b
We often use the phrase, “Get Your Feet Wet” when we are just beginning to learn how to do something or are about to pioneer a new initiative. When we participate in a project for the first time, there is usually a hesitancy to step out into the unknown.There's no better way to learn than by doing. This requires that we move away from our comfort zones and step out into the unknown, which usually exceeds our reach and makes us stretch to get it.Stepping Out Into the UnknownThe unknown elicits strong emotional responses, the chief of which is fear. We’re afraid to take chances or that we will make mistakes. While mistakes are embarrassing, they can be used to jumpstart and enhance our learning. Other reactions to the unknown include: Hesitancy. Being cautious and tentative; playing it safe.Discouragement. Disappointment and worry; backing up and settling for less than our best.Pessimism. Focusing on the problems and challenges instead of the solutions and opportunities. While the above list is not all inclusive, it is helpful in understanding our emotional response to the unfamiliar…strange…mysterious…uncharted territory. To step out into the unknown requires courage, commitment and conviction.How to Get Your Feet Wet at Work Courage. Prepare for your next challenge or opportunity by doing your homework. Learn as much as you can and apply that learning when working in indeterminate assignments or dealing with vague requests. Take a leap of faith into the unknown and just do it. Don’t wait until everything is perfect and you are entirely ready—physically, emotionally, and financially. You’ll never be absolutely and totally ready or ultimately prepared. Most times
Some businesses sell undifferentiated products or services. This means that the product or service offered by one business is the same, or substantially the same, as the one offered by competing businesses. A gallon of gasoline is probably a good example. (At the present time, it appears that every provider has the same goal: reap substantial profits from consumers.) One station may attempt to distinguish itself from another through slight pricing differences. Oil companies may proclaim “we do research to protect the environment with clean burning fuels that are better for your car"; but, a gallon of gas is a gallon of gas in the eyes of most consumers. Any slight price differences, auxiliary services such as clean rest rooms and a convenience store, and location largely determine where consumers will ultimately spend their money (in ever increasing amounts, it seems).
All business models require some form of promotion. The “person on the street” typically confuses terminology that is actually quite specific. The terms promotion, advertising, and marketing are often incorrectly used interchangeably, for instance. Marketing is inclusive of price, product, place, and promotion. A business can be promoted through word-of-mouth and referral; therefore, a good reputation and testimonials should be cultivated by any business. Some products require heavy paid advertising. “Paid” is the critical word here, in that it suggests that the advertiser has some choice in placing a message before a desired audience. By definition, advertising is paid, non-personal communication; ordinarily it is underwritten by an identified sponsor; it is meant to be informative, if not persuasive in nature. By far, most advertising is local, even though one might tend to first think of national advertisers and brands in an advertising recall test (a test of what someone remembers).
Another way to promote a product is through personal selling efforts. Some types of businesses use independent representatives for this purpose, because it makes sense. For example, suppose that one has a line of porcelain figures that are sold primarily through gift stores. However, as a small business, it would be hard to afford a staff of in-house sales representatives to call on thousands of gift stores nationwide. One could use a firm that represents several product lines (such as greeting cards, writing pens, and silver) and simply add the porcelain figurines to the list of products that might be presented to gift store owners and buyers d
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