Business Process Management

Hit two birds with one stone! Properly applying business process management to your company can conveniently aid both target clients and business firms alike. Having an end to end process that can actively point out what your customer wants and make it work for the benefit of the company is one of the simple formulas for success. Run your business with a sharp approach using this method.

This process offers a sense of balance and continuity to your business. Balance in a way that the cycle of expenses, costs and tasks are in perfect harmony. The procedure allows your business to be constantly balanced by adjusting factors that can get always get your company back on track. Continuity is expressed through having a steady and consistent flow of work that is produced through this process. Growth and development does not cease within the company, it just goes round like a wheel, constantly changing and improving.

It is a straight forward process that can effectively determine the necessary steps that your company has to take so that it can deliver what your client requires of you. It is the kill switch of all business battle plans as having a competent business process management can either make or break your company. This is a tool that can help your employees understand their specific duties so that they can accomplish their work more effectively.

It is a constantly evolving mechanism that allows your organization to constantly improve and develop so that you are able to meet your goals in an efficient manner. It also expresses qualities of adaptability, as steps and processes can vary over a period of time depending on the current needs of the company. Successfully track your company’s standing and act upon weak spots and exploit strong points.

Dynamically identify and organize future actions plans for your company. The process allows you to forecast future challenges within your company so that you can take the necessary action to preempt these future problems form from happening. This is a most useful attribute that can definitely give your business the edge over the competition.

Pro actively incorporate business process management into your business and immediately feel the impact it brings to your company. You will no longer venture blindly into the business world. Use this process to be a step ahead of everybody else. Never worry about external and internal challenges ever again.

Internet Marketing for Small Home-Based Businesses

Small home-based businesses battle to stay on search engine listings and gain the advertising and marketing exposure they deserve. Small home-based business owners typically don’t have the money for expensive advertising and marketing. It is for this reason that popular big name companies seem to have taken over the online market by advertising on television, in magazines, and at the top of almost every search engine listing. Small home-based businesses should not be discouraged. It is possible for small home-based internet businesses to move up the ladder of success through effective and creative internet marketing. Small home-based internet businesses are able to gain the exposure they deserve, but they must use strategies other than standard marketing and advertising methods used by big name companies.

Small home-based businesses striving for marketing and advertising success need to grab the attention of potential customers. After grabbing the attention of potential customers, it’s critical to keep their attention. Home-based business owners should consider offering potential customers and those looking for information on the internet the high-quality information they are looking for through opt-in newsletters.

Small home-based business owners can bring in new customers and keep customers coming back by giving them the information or news they’re seeking online. For example, if a small home-based internet business sells craft items, the home-based business owner can offer valuable free information on craft projects. Those seeking craft project ideas and instructions through a craft project newsletter will find links to materials and supplies. Marketing small home-based businesses through newsletters can greatly increase earnings.

The owner of a small home-based internet business doesn’t have to be a great writer to develop an internet newsletter full of valuable information. There are a number of helpful internet programs to assist owners of small home-based businesses with developing and marketing products and newsletters. Offer people the information they are seeking, and they will sign up to receive the information. Before long, newsletter marketing efforts will pay off through ever increasing sales.

Home-based small business owners who don’t have time for newsletters should consider joining one of the many popular link exchange programs. Marketing small home-based businesses becomes effortless, and home-based businesses literally begin marketing themselves. Link exchange members assist each other with marketing, and they help increase website traffic. Potential customers gain access to small business websites they otherwise wouldn’t have found.

Marketing efforts can be increased by directly exchanging links with otherbusiness websites. Small home-based businesses can offer their banners and links in exchange for banner and links from other small business websites.There is no cost for this type of marketing, and small home-based business websites can increase traffic and sales considerably. Choose link exchange partners wisely to gain the most marketing benefits and exposure for your small home-based internet business.

Small Business Marketing For Sales Growth

Most small business owners would agree on the need to have a plan for sales growth. Yet far too many small businesses rely on “sales effort” and far too few establish appropriate marketing strategies for sales growth.

Most marketing experts suggest three marketing strategies that are open to all businesses, large and small:

o The least-cost strategy. Using this strategy, a company competes by selling uniform, standard products. Market demand for these products is usually highly elastic. An increase in price triggers a sharp drop in sales volume because (1) demand is low, supply is high, or (2) there are plenty of competitors who can supply substitutes. Buyers expect price concessions, which naturally lead least-cost firms to emphasize production at the lowest possible per-unit costs.

o The differentiation strategy. A company using this strategy attempts to offer unique products that are set off from the competition by superior quality or service. Market demand tends to be inelastic (that is, sales volume doesn’t vary in proportion to price). Goods are priced well above production costs. The company that pursues a strategy of differentiation must invest heavily in product development and innovative packaging and promotion. And it must stay closely in tune with customers’ changing needs and desires.

o The niche strategy. Using this option, a company sells a premium priced product or service to a few buyers. Unit costs are high because output is low and costs such as labor or research and development may be great. Brand identification and customer loyalty are the keys to success.

In adopting a marketing strategy, most small businesses should opt for the differentiation or niche strategy, or a combination of the two. The least-cost strategy is the least successful for small companies. There’s a simple reason why: production costs.

A company’s production costs tend to decline as it accumulates experience in producing the product. How much production experience a company has the opportunity to acquire depends on its share of the market. The larger its market share, the lower its costs.

Therefore, the dominant competitor in a market is in the best position to pursue a least-cost strategy. It can and will shave profit margins to drive out competitors who can’t compete on price. The market leader is assured that the more it can produce and sell regardless of price, the lower its cost will go. So, the least-cost strategy is usually used by very large companies that have the resources to dominate a particular market, local, regional, national or international.

A clear message here is to stay out of areas where there already is a dominant market leader unless you’re prepared for a costly business battle. That means building on your business’s own experience, pushing its competitive edge to the limit in an effort to become the dominant competitor. You can do this by:

o Developing a new product;
o Differentiating your product to appeal to a segment of the market where you have the most experience; or
o Finding a niche in a highly fragmented market where there is no clearly dominant competitor.

When developing new products, stick to your strength. There may be a virtue in staying small, at least in one sense. For one thing, contracting for a service may be cheaper than doing it yourself. Aside from that, each distinctive business function has its own little tricks, short-cuts and hidden pitfalls. In starting a function from scratch, you are committing time, money and capital to an area where competitors, because of their greater experience, may have a clear cost edge.

It’s a common story these days that new, high technology products are no sooner brought out of the designer’s “garage” than they are an instant hit in the marketplace. A production facility is quickly put together and business blossoms-until a larger competitor swoops down with a copycat product and takes the business away.

The cause isn’t just the predatory nature of big business. Often, the designer’s experience in research and development doesn’t carryover to functions that are vital to success in a competitive market: sales and marketing, distribution and financing. The new business can’t come close to matching the larger firm’s experience and proficiency in these areas. And this gives the larger firm an insurmountable edge in the marketplace.

You should consider an alternative strategy: If your business is good at R & D, consider joining with a business that is good at production, sales and marketing. If you have the edge in one geographical region, join with a business that has strong national marketing and distribution channels. Above all, concentrate your resources where your experience is greatest.

Another avenue to sales growth is differentiation. Break away from the pack and make your product stand out from the competition on the basis of superior quality and innovation. Your objective is to maintain the unique appeal a product has to quality-minded consumers. At the same time, look for ways to make carrying your product more attractive to wholesalers and retailers as well.

Profitable niches are often found in markets where there’s no clear industry leader. For example, Enterprise Rent-A-Car built the world’s largest rental car agency by specializing in “wreck replacement” rentals. At the time, the market was under served and there was no clear leader for the service. But finding the appropriate niche can take patience. And once you find it, it’s vital to cultivate customer loyalty and confidence.