Posts Tagged: Business

by rvdburgt

Lose weight and grow your Business

Is one of your goals to “lose” some excess weight? Why not have the same goals for your business?

When you hear people talking about sales goals, they’re almost always referring to gross sales. “I want to do 0,000 in revenues. I want my company to grow to million, million, etc.”

But which is more important, sales or profits? Shouldn’t the goal be to increase profits? The money you keep after paying your expenses? Doubling your revenues doesn’t equate to doubling your profits, does it? In many cases quite the opposite happens. Sales may increase, but the profits lag far behind.

Perhaps a better idea is to “trim” your business – stop calling on the unprofitable and time consuming accounts – so you can reduce your costs and dramatically increase your profit margins. This in mind, let’s look at company XYZ, Inc.

XYZ Inc. is a Mfg Rep Company. It does nearly million in total sales. The manufacturers pay commissions of 30 percent, so the company earns .8 million. The company pays out .5 million to its 30 employees and other expenses, leaving a 0,000 net profit. XYZ Inc. has nearly 600 accounts, but the bottom 200 accounts don’t do much business with them. They do, however, take up a lot of the sales and service time, effort and attention.

Doing an analysis, XYZ Inc. discovered their 200 smallest accounts spend only 0,000 annually, but take up more than one-third of the sales staff’s available time.

Considering the implications they came to these conclusions:

If they stopped calling on these small (the bottom third) accounts, sales would drop to .5 million Commission income would drop to .65 million from .8

However, they could reduce their employee count and related expenses by 1/3, or million (a 0,000 savings).The result would be a 0,000 increase in profit to 0,000. “Trimming” the business was step one.

Step two was to have the entire company focus their efforts toward improving the quality of service to their best, or their “A” Class customers. This meant the team could easily keep their best customers very happy, turning them into raving fans who referred additional business to the company. The bonus was that the prospective customers referred by the “A” Class customers were just like them – also “A” Class. They were also able to find additional products and services they could sell to those “A” Class customers.

The sales team identified their “ideal customers,” their qualities, size, values, culture, etc. – customers they wanted to do business with, and then went after them. The attitudes and morale of the organization changed. The salespeople were making more money, and everybody was having more fun because they were spending their time, energy, and effort serving their “A” Class customers. And, with their new found free time, they are able to look for new opportunities and clients with the same profile as their “ideal customers.”

XYZ Inc. can now set its sights on growing the company to million, and then million in sales, by doing business with only the “best” customers, with much higher profit margins.

So, how can you reduce some excess weight in your business this year?

Here are the three things we just went over:

Trim your customer base. Stop calling on those who take up lots of your time, are hard to deal with, price shop, etc., and don’t do much business with you anyway.

Create a profile of your “ideal customer,” and then find more clients who fit that profile.

Give your best customers a consistently incredible, “wow” level of attention and service.

“Under commit and over deliver”

Paul Chaderjian interviews Armenian National Committee of Hollywood (ANC Hollywood) activists Paul Seradarian and Rostom Sarkissian about the August 28th Small Business Tax Seminar, organized in collaboration with the office of the California State Controller John Chiang and the sponsorship of the Armenian-American Chamber of Commerce-Little Armenia Chapter, to educate and equip small business owners to succeed in the current economy. The seminar will cover a broad range of topics including the American Recovery and Investment Act of 2009, regional business opportunities and incentives, employment and payroll taxes as well as income, sales and use taxes. WHO:Armenian National Committee of Hollywood Office of California State Controller, John Chiang Armenian-American Chamber of Commerce (Little Armenia) Supporting Business Organizations (see list below) WHAT: Small Business Tax Seminar WHEN: Friday, August 28th 8:30 am Registration 9:00 am 1:00 pm Small Business Tax Seminar WHERE: Karapetian Hall 1614 N. Alexandria Avenue Parking available at church parking lot TO RSVP: Call the ANC Western Region office at (818) 500-1918. SUPPORTING ORGANIZATIONS: Thai Community Development Center; Thai Chamber of Commerce; Greater Los Angeles African American Chamber of Commerce Regional Hispanic Chamber of Commerce Community Redevelopment Agency of the City of Los Angeles; Hollywood Chamber of Commerce ANC-Professional Network and Consumer Action. The RSVP form is included in the …
Video Rating: 5 / 5

More Small Busines Articles

by vancouverfilmschool

For businesses to survive in today’s competitive global market, business managers must be properly trained and fully aware of all the latest trends of the business industry. They have to learn how to adjust their operations to meet the ever-encroaching pressure of globalization that exposes them to competition from all over the world. As a result, they must stream line, source cheaper supplies and ramp up their marketing in order to keep the bottom line out of the red.

There are many sources from which business managers can gain their skills, but the easiest and most flexible method is through the pursuit of an online degree in business management.

Background of Online Degree in Business Management

The online degree in business management targets those individuals who want to enjoy the best of both worlds during their tertiary education. Students are afforded the opportunity to study from locations convenient to them and still achieve a high level, accredited business management degree. Online business management degree courses are divided into several modules, each accompanied by its associated examination that steadily guides students through the course. The length of you course will depend on the level at which you are studying and whether you opt for an accelerated of regular schedule program. Students have access to their universities large online resources where they can research material make new contacts and communicate with their professors.

Types of Online Business Management Degrees

Business management degrees are available at all levels of study. Students can study at the associate, bachelor, master and PhD level. The training afforded through these online business management degree programs are first class and are accredited by most government educational bodies. Courses are also designed with the assistance of leading industry professionals who ensure that the courses remain relevant and applicable to today’s trends.

At the associate and bachelors level, students are given introductory courses into the science of business management. When they move up to the master and PhD levelsin business management, the online degree in business management switches its focus to research and development of the business sector.

Course Outline of Online Business Management Degree

The online degree in business management focuses on creating successful managers who will display the right attitude and ethics during the operation of their businesses. To achieve these skills, online business management degree students undergo studies in subject areas such as:

* Introduction to business principles

* Principles of management

* Business communication

* Bookkeeping

* Human resource management

* Management of teams

* Mediation

What can I do with an Online Degree in Business Management?

Graduates of online business management degree programs are in high demand. This is due to the involvement of major industry players in the design of these online business management programs. As a result, they are fully aware of the capabilities of these graduates and the contribution they can make to their organization. Graduates of Online Business Management Degree are employed as business consultants, business managers, analyst and executives. Some graduates also go on to start their own companies.

CollegeGrad.com – Career Videos, Business, Management and Administration. Behind every successful transaction there is a team. Each individual involved in business and administration performs an important piece of a big job.
Video Rating: 5 / 5

by Mark & Andrea Busse

Extra and more citizens are discovering the would-be to earn an takings online and nearly everyone of them already maintain or are in the process of preliminary single. Chances are, the competition in your organization area would solitary grow. If you are serious not far off from achieving achievement with your online organization, after that you need to unearth ways to allot by hand each improvement you can contract on your competitors. One strategy I can almost assure your competitors maintain not tried is to file down detailed campaign of exactly how they hunger their organization to succeed.

The resolution of symbols a organization diagram is to atlas barred all details of your business. Do this and you will form a solid foundation on which your online business is built on.

Writing a organization diagram in place of your organization may well be the nearly everyone of great consequence step in getting your organization to someplace you hunger it to be. If you are already running an online organization and hunger to increase in intensity profits or preliminary an online organization is still an thought in your head, at this point is a tip: Start Planning!

A high-quality organization diagram would contain the following highest categories:

1) Layout of your Business

This section would contain a detailed account of your online organization and would cover the total landscape of your organization. You might hunger to file down all details with the aim of form the total organization of your organization such as the artifact, website hosting, sequential autoresponders, be an enthusiast of up emails, mode of accepting belief cards et cetera… And how they are integrated.

2) Marketing

This is someplace you explore, decide and mark down who your target marketplace is, pardon? Strategies you diagram to wear out and how much is your monthly plan so you can articulate a high-quality marketing diagram.

Do a quick search and you will unearth many kinds of marketing strategies with the aim of you can go for in place of your organization. Most of these strategies toil but selected will every time toil better than others, so it would be wise to evaluate all possibilities and after that focus on two or three of these marketing techniques with the aim of will harvest the biggest return in place of your investment.

Some marketing techniques resolve require you to consume selected money. Be present it wage apiece click or ezine advertising, it would be a high-quality thought to consume a little money to test with the aim of marketing strategy by paying high-quality money on a rotund campaign.

3) Development

This is someplace you will mark down how you hunger your organization to be in the opportunity. Regardless of pardon? Stage you are by the side of, you ought to include a imagination of pardon? You hunger your organization to be. This may well be ready by setting up a cycle of goals which you propose to accomplish on schedule to complete with the aim of imagination.

4) Financials

Your internet organization would certainly incur expenses. Keeping and recording a collection of accounts of your organization is of great consequence as it tracks all your takings and expenditures in order. It can tell you if a some marketing strategy is giving low returns or making prohibitive profits, helps you determine your monthly plan and get cash flows and besides helps you decide if you ought to bring to an end overheads or to unearth a way to increase in intensity takings. All these would function a long way in plateful you get by your cash flows.

Once you maintain in black and white down your organization diagram in order, you will be amazed by the side of how often you refer to it. It helps you stay focus on pardon? You are liability as another online business opportunities will every time appear by the side of your doorstep may well keep an eye on to distract you. It helps you kind superlative decisions whilst faced with problems or choosing someplace you ought to consume your money in the process of expanding your organization.

Find More Online Business Articles