Managing Your Employees And Forming Business Alliances

Selasa, 19 Juni 2012

Since you're reading this article, I know for a fact that you would like to make more money in your business. And there's nothing wrong with that. You don't have to feel guilty about making more money - it's just a natural thing that goes on in a business owner's mind. So if you're in business looking for money, you should know that there is money all around you.

Quite easily, the fastest way to earn more money in your business is by selling to your repeat customers. If you have a large customer database, you want to make sure that you're selling to these people on a monthly basis. These are the people who know you and like you, so it's important that you focus on creating a relationship with this group of people.

In this article, we're going to take a look at some ways that you can have success in your business right away. I personally use these tips, and they have made me a lot of money. So I'm passing these strategies here for you so that you can implement them in your business. Here's the first marketing tip:

1) Manage your employees

Assuming that you have a franchise or a business with employees, you will want to make sure that your employees respect you, and are willing to do a good job for you on a daily basis. There are a lot of ways to make your employees like you and make them want to go above and beyond for you. One of those things is the employee of the month award.

Analyze each of your employees progress and see which one of them made the most effort this month to make customers feel happy, and that is making you a lot of money each and everyday. Another way to do this is with free gifts. You can purchase a gift card from a popular retail store, and hand it out every month to the employee who gave you the best effort this month. All of these are great ways to make more money in your business, all while making your employees feel special also. Let's take a look at another tip:

2) Create new alliances

Get out there and start mingling with similar business owners in your city. The first place you will want to start your search at is your local chamber of commerce. There are a lot of business owners there who are successful, and there are some people there who aren't as successful. It's your job to link up with these people to form new alliances in your business.

Even if you're shy, you can still benefit from using the chamber of commerce to connect up with fellow business owners. The first thing that you will want to do is to hand out your business card. Make sure your business card is designed to get new people to call you, and to make yourself look like an expert of some sort. This way if a fellow business owner comes across someone who could use your services, they can just hand them one of your business cards.

Top Reasons To Form A Strategic Business Alliance

Senin, 18 Juni 2012

A strategic alliance is when two or more businesses join together for a set period of time. The businesses, usually, are not in direct competition, but have similar products or services that are directed toward the same target audience. Below are ten reasons to create a strategic alliance.

1. You could offer your customers a larger variety of products or services. This will allow you to spend less time and money developing new products to sell.

2. Your number of sales people will increase because you're combining with other business. You won't have spend to time and money hiring new employees.

3. Your marketing and advertising budget will increase. When you form a strategic alliance with other businesses you both will share the advertising and marketing costs.

4. You can now offer your existing customers more back-end and upsell products. This will increase your sales and profits.

5. Your business will gain a larger number of skilled people working on the same project. You will gain the knowledge of the other businesses employees.

6. You will be able to beat your competition by selling to a larger target audience. You will also increase the total number of existing customers you can sell your products and services to.

7. You can exchange endorsements with your alliance partners. You'll add more credibility to your business and gain your potential customers trust to buy.

8. You can expand your business more rapidly. You can develop new products and services faster with a larger work force.

9. You'll be able to solve your customer's problems faster with a larger base of customer service people. You'll also learn new ways to improve your customer service from your alliance partners.

10. You'll have a larger number of "strategic thinking" people. This will allow both businesses to come up with profitable business ideas quicker than before.