Global Digital Store – Ebooks and Softwares

Category: Business

  • Turbomachine expander offers efficient, safe strategy for heating, cooling

    Turbomachine expander offers efficient, safe strategy for heating, cooling

    A new device to help homeowners cut electricity bills could also provide more efficient and safer cooling options for companies and vehicles.

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  • Japan’s ANA says to buy 20 more Boeing 787 Dreamliners

    Japan’s ANA says to buy 20 more Boeing 787 Dreamliners

    Japan’s ANA Holdings said Tuesday it will buy 20 new Boeing 787-10 and 787-9 aircraft, with the planes expected to go into service between 2022 and 2025.

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  • Swarming robots avoid collisions, traffic jams

    Swarming robots avoid collisions, traffic jams

    For self-driving vehicles to become an everyday reality, they need to safely and flawlessly navigate one another without crashing or causing unnecessary traffic jams.

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  • Businesses Pursuing New Product Development

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    With the aftermath of globalization, companies are carefully thinking about the best ways to extend their product and service offering. Thus, product development strategy is critical for their success. Yet, many companies are in defensive mode and merely want to maintain the position in the market place.

    However, staying in a holding position is a definite way for companies to be left behind. Innovative thinking that allows for product/service growth is a too sure way for sustainable success. In today’s discussion, we will explore the importance of product development for the growth of businesses, especially in a competitive market.

    Launching into new product offerings is not easy. According to one market research, approximately 75% of consumer-packaged goods and retail products fail to earn even $7.5 million during their first year. Harvard Business School Professor, Clayton Christensen, who is the world’s foremost authority on disruptive innovation, suggests that the failure rate of new products may actually be as high as 95%. Product failure rates relate to the number of products that are launched commercially but fail.

    Geoffrey A. Moore, the author of Crossing the Chasm, maintains the challenges of product deployment: “… the less successful product is often arguably superior. No content to slink off the stage without some revenge, this sullen and resentful crew casts about among themselves to find a scapegoat, and whom do they light upon? With unfailing consistency and unerring accuracy, all fingers point to-the vice president of marketing. It is marketing’s fault!” Thus, new product development is a risky proposition to senior executives making these critical positions as well as the organization as a whole.

    Businesses that want sustainable growth must develop new product and services often and consistently. Philip Kotler and Kevin Keller, authors of Marketing Management, “In an economy of rapid change, continuous innovation is a necessity. Highly innovative firms are able to identify and quickly seize new market opportunities.”

    In taking any actions on new product development, businesses should think strategically about their product development. Alexander Chernev, the author of Strategic Marketing Management, further argues that managing growth is the most preferred route to profitability compared to just cutting cost.

    He outlines four key issues in managing growth, which include: (a) gaining and defending a market position, (b) managing sales growth, (c) new product development, and (d) product-line management. Chernev maintains, “New products and services are the keys to sustainable growth; they enable companies to gain and sustain their market position by taking advantage of the changes in the market to create superior customer value.”

    With that said, new product development meaning having the ability to take a product or service idea and convert it into a tangible offering that customers want. The following are the steps that more products undergo for market consumption: (a) idea generation, (b) concept development, (c) business analysis, (d) product development, (e) market testing, and (f) business deployment.

    The Ansoff Matrix is a strategic tool for product development, consisting of market penetration, market development, product development, and diversification. In market penetration strategy, organizations seek to grow using its existing product offerings in existing markets. With this strategy in mind, organizations try to increase market share. In a market development strategy, companies try to expand into new markets like new buyers using their existing offerings. In product development strategy, businesses seek to create new products and services targeted at its existing buyers.

    In a diversification strategy, an organization tries to grow its market share by introducing new product offerings while at the same time entering a new market. Diversification is the most-risky approach due to simultaneous making new changes (new product, new market). Kotler and Keller further maintain the difficulty of sustainable product success: “It is increasingly difficult to identify blockbuster products that will transform a market, but continuous innovation can force competitors to play catch-up.” The concept sounds easy. However, it is riddled with problems.

    Without a doubt, many companies know that product development is a risky business. Although many consumers will proudly proclaim the success of many innovative products like Apple and Google, these same buyers are not aware of the numerous product launch failures in this country. In our discussion, I demonstrated the importance of product development for the growth of businesses, especially in a competitive market. Failures often lead to innovation.

    American great inventor, Thomas Edison, had his own share of failures, but learned how to innovate because of them: “I have not failed. I’ve just found 10,000 ways that won’t work.” Likewise, today’s businesses can also achieve success if they understand how to deploy their products and services to the marketplace strategically. Although there is enormous danger in failure, there is also the opportunity of unforeseen growth. Don’t wait until it’s too late.

    © 2017 by DD Green

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    Source by Dr. Daryl D. Green

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  • Are You Getting Your Share of Mailbox Money?

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    Does your business allow for “mailbox money” and a lifestyle you love? If not, what would it take for you to create this?

    Let’s start with the definition of mailbox money. This is money you receive in both your inbox and your physical mailbox.

    I first heard the term from Mary Morrissey. When I heard her definition I realized I have had mailbox money for years.

    Based on how you have your business set up you likely have a general idea of a minimum amount of money that will arrive daily whether it be a few hundred or a few thousand. Beyond the baseline, you likely won’t know from day to day how much cash will arrive. The reason? Multiple streams of revenue that fluctuates from day to day.

    Multiple streams of revenue is exactly what it sounds like; money that comes from various sources. One way to create multiple streams of mailbox money is with information products; yours and those you sell for others.

    The more information you have to offer that your market has an interest in the more revenue you can generate.

    If you have no products of your own you can start by becoming an affiliate seller. Make sure whomever you sell for and whatever you make available you are selling an outstanding product or service you are proud to make available to your market. Never, ever, ever sell anything you can’t put your personal stamp of approval on.

    Keep this in mind.

    Don’t sell simply to make money. Making money simply for the sake of making money may be short lived. Start from the point of, “What would create the greatest value and truly serve my market?” When you think in terms of being of service, the money will follow for a long time to come.

    You may have to test a few products to identify your markets’ sweet spot both with the type of information you are introducing and the price point.

    Some online entrepreneurs are very successful by selling other experts’ products. Others prefer to create their own. Still others like a combination of the two.

    I lean towards the latter.

    If you’re planning on developing your own products now is the perfect time to begin. However, you will be well served to plan out what you introduce.

    Follow these simple steps to move you in the right direction.

    • Identify what your potential customers are interested in. A survey can help considerably in this area.

    • Determine what knowledge you have that people would be willing to pay for.

    • Decide the format for the information product; video, audio, MP3.

    • Determine method of delivery; ClickBank, autoresponder, other.

    • Determine method of payment; PayPal, credit card.

    • Develop the product.

    • Develop a landing page. If you’re not qualified you can find plenty of eager designers on elance.com or get a free or low cost template program.

    • Market.

    Obviously, there’s more detail I could cover, but this will be a great place to start. I can assure you that when you have several things to offer your market, both yours and those of other experts, you’ll get very used to watching your “mailbox money” arrive on a daily basis.

    So much in fact, you will know what it means to have a lifestyle business.

    What’s your experience with mailbox money? Are you getting your share?

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    Source by Kathleen Gage

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  • Ten Ways to Offer Better Customer Service

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    Today’s savvy customers not only want excellent service, they often expect it. Customer service was the main quality focus of growth and improvement for companies in the last few decades, which is why many now expect it. Companies can lose customers over bad customer service and may retain customers who feel treated respectfully. How well customer service works depends greatly on the attitude and training of company human resources, even those not in the service areas. Below are a few ways everyone can improve their customer service skills and attitudes. 

    1. Always smile when speaking with the customer, whether in person or on the phone. Smiling lifts your attitude and the positive ness can be heard in your voice. 
    2. Greet customers by saying hello, giving them your name, and asking them how you can help.
    3. Whenever possible, be empathetic. Let the customer know you understand their feelings and want to be of help in solving their problem.
    4. Be sure to ask for their name so you can call them by it when responding. This makes the conversation seem more one-on-one friendly rather than combative. If you are on the phone, get their phone number too in case you become disconnected or need to do research. With their phone number, you can call them back if necessary.
    5. If you must put a phone customer on hold or your computers are down, let them know how long the hold or downtime might be. If it will be more than a couple of minutes, you should give them the option of holding or having you calling them back when you have completed your research or when the computers come back up. The customer may choose to call you back, but never tell them that is what they must do. Be sure to call them back in the stated timeframe even if it is only to say you still do not have an answer. Lack of communication is often more frustrating for a customer than having to wait a little longer for results.
    6. If the customer is angry or determined to complain, stay calm and don’t take their criticism personally. Ask questions so you can get to the root of the problem or issue. However, do consider their criticism as suggestions for future improvement of your company processes and services.
    7. If you do not have an answer for the customer, do not make something up. Instead find someone who can give you the correct answer. Customers don’t like being lied to or patronized.
    8. Find the best way to resolve the problem and satisfy your customer without having to go through multiple levels of approval or breaking any rules. Multiple levels of approval only slow the process down and do not help the customer, so avoid them whenever possible. However, if you must get an approval, let the customer know the process and how long it may take and exactly when they can expect a result. You can often go the extra mile for the customer without breaking any rules or going against written policies. 
    9. Once the customer’s problem is resolved, ask if you can be of any help with anything else. Be sure to thank the customer before saying goodbye. 
    10. Always remember the golden rule is the best rule of thumb for customer service “Do unto others as you would have them do unto you.” 

    These are simple ideas to improve customer service skills and attitudes in employees. It is important to always remember that customers today expect excellent customer service and will go where they can find it. Companies lose customers over bad service. So offer great service instead to help retain customers.

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    Source by Shirley Lee

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  • Secrets of the Piggyback Marketer

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    Owner/Producer of SIMPLEnetworking, Chi Chi Okezie is an expert in piggyback marketing and uses other people’s resources to grow her business, credibility and brand-name. Never stingy with information, Chi Chi has graciously enlightened us with five points on piggyback marketing as follows…

    #1 “Civil Servant”

    Golden Rule in Piggyback Marketing, “You keep what you give away.”

    Volunteering is the biggest, best and most effective tool in Piggyback Marketing. When you volunteer with a big company or organization, doors swing open in your favor. Whether you are donating money, time or services, you position yourself into a group of like minded, generous and business oriented “do-gooders”. Latching onto a credible name or brand will drastically increase your visibility and add dimension to your efforts.

    #2 “Moonlighting”

    Start teaching a continuing education class or an evening course at a well known state or private institution. Pick a course or topic in which you are an expert. By teaching the class, you are building your credibility and developing great skills in research, communication and public speaking. You are automatically associated with the state or private institution and can leverage that for business. The class becomes another product which you can market to your clients and potential customers.

    #3 “Club Hopping”

    Join a club, chamber of commerce, business organization etc. and become an active member. Usually, clubs/organizations are members of bigger clubs and organizations. You can approach the director/president of your group and ask to be a representative of that group or organization which is a member of a bigger group, organization or chamber of commerce. Next thing you know, you will be seated or rubbing elbows with board members and significant decision makers!

    #4 “Show Your School Spirit”

    Get involved in your school alumni chapter and attend events or join a committee. Your position within the chapter can be a direct link in marketing your business to fellow alumni as well as school departments and students. Also offer to do class presentations, mentor students or be a recruiter/liaison. If there is not a chapter in your city, contact the alumni dept. and suggest one – you can be the President!

    5# “Half Time Show”

    Do you know any colleagues, entrepreneurs or other professionals who present seminars, classes, workshops or talks? If so, offer to do a quick presentation during their breaks to promote your brand, industry, products or services. Or you can opt to introduce the speaker/lecturer at an event. If you can make a dynamic introduction or pull off a great presentation during a break, potential customers will flock to you for business!

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    Source by Chi Chi Okezie

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  • Entrepreneurship – Craze of Present Generation

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    An Entrepreneurship sets up an enterprise for profit motive and rightly so. But if you start your business with the 'Show me the money' attitude, rest be assured that you will not go very far!

    Ever wondered why in the world of Entrepreneurship, some carve a niche for themselves and stand out from the crowd, while others, even though successful, have a mundane existence?

    Well it all lies on certain qualities that an Entrepreneur may possess or the way certain activities are conducted by him / her. Here are special skills which you need to hone to become the Successful Entrepreneur.

    Everybody has a certain goal in life which just refuses to go away or change. You must understand this goal to be the calling of your life. Write down this goal – It will time and again remind you, how important it is to achieve this goal and will not let you sleep until you achieve it and become a celebrated Entrepreneur.

    Share your Dream with Right people – Law of Entrepreneurship

    In this world of make belief, you should be able to distinguish between the good, bad and the ugly. Many Entrepreneurial dreams die a quite death because somebody labeled it 'stupid' and constantly put you down until you also started believing your dream to be stupid and chose to abandon it. Share your dreams with only those whom you trust and are actually the propellers of your life.

    Find yourself a Mentor – Key Role in Entrepreneurship

    Someone who has already been there after many trials and turbulence is the right person to advice you. Somebody who has been there and done with can impart some priceless wisdom which you can use to carve a niche for yourself. But you must be very clear about what you will gain from the mentor-men-tee relationship. This will determine whom you can tap for assistance. The right Mentor will always short-cut your leaning process and give you the push you need and help you to stay task focused.

    Observe deeply and Practice Incessantly

    An Entrepreneur must consciously set aside some quite time to take on board any new ideas, things to learn and allow your mind to wander. You never know what your 'downtime' can fetch your business! Similarly only incessant practice will make an Entrepreneur perfect. Short cuts have never helped anyone in life. It is only your endurance for more and more practice that will give you results.

    Seek Challenges in Life

    The yardstick of success of an Entrepreneur is measured by the challenges he / she has overcome. Never be scared to consciously seek challenges in your Entrepreneurial life. Remember challenges are not setback of life. They are simply life's way of requesting you to make full use of the resources and tools available with you to resolve them.

    As an Entrepreneur you must have the skill set to select the right tool at the right time to overcome the challenge.

    Welcome Criticism – Challenge in Entrepreneurship

    In your journey as an Entrepreneur, be ready to welcome criticism from associates / citizens / clients / and sometimes even friends and family. There will be people out, there highly critical of your product / service. You must possess the gall to take such criticism in your stride and take them positively. If praise motivates you, then criticism must stimulate you to do better and better, not the opposite. If you cannot accept criticism, then your ego is getting in the way of your best judgement.

    Be Self Driven not Ego Driven

    An Entrepreneur must be proud, confident, self assured but not ego driven. Be humble and let your feet be planted firmly on the ground. Let your actions and achievements speak for you, not your boating and bragging. The more you brag, the more will sound phony. Remember, it is the empty vessel which makes the most noise.

    Carve a niche for yourself

    An entrepreneur must try to find out his niche area. Each of us has a special ability, a quite story which sets us apart from others. Play around with this strength and craft your own persona. Of you try to become a carbon copy of some you admire, you will never be able to make a name for yourself. Remember, the original always looks better than the copy. So leave your idol on the pedestal to be admired from a distance.

    What Goes Around Comes Back.

    As an Entrepreneur, you must try and help and benefit others. Give whatever you have in abundance- your time. your service or knowledge to those who are badly in need of it. You will be amazed at what you stand to gain when you give it to others.

    Value Learning over Money – Basics of Entrepreneurship

    An Entrepreneur sets up an enterprise for profit motive and rightly so. But if you start your business with the 'Show me the money' attitude, rest be assured that you will not go very far! Instead show humility and value what you have learnt in your journey as an Entrepreneur. Money will follow you steadily and surely, if you apply what you have learnt.

    Be Thankful

    Be thankful that you could become an Entrepreneur, be thankful that you could learn your failures, be thankful that you are at the receiving end of so many blessings and above all, be thankful that you are alive!

    Gratitude always unlocks the fullness of your life and indeed will make you the celebrated "A Successful" Entrepreneur.

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    Source by Akshay Lendey

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  • The 7 Traits of an Exceptional & Successful Entrepreneur

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    How often have you either referred to or considered the expression, “Success is a journey and not a Destination?” Probably many times, yet often being in a hurry to get there, we forget that success is not an end unto itself, but is instead an ongoing process.

    Though some people seem to have the Midas touch and easily turn everything to gold, most of us have to give our endeavors lots of time, effort and the sweat of our brow before seeing things come to fruition. The simple truth is that the majority of us are simply not born leaders, but become leaders by who we are and the actions we take. Consequently, whether or not you’re an established entrepreneur or just starting out on your journey, there are particular traits you’ll usually find operating within the exceptional entrepreneur. In fact there are 7 particular traits you’ll generally discover deeply embedded within the exceptional and successful businessperson.

    If you’ve already taken the plunge as an entrepreneur, you know that it takes a great deal of planning, development and strategic marketing to succeed. At any given time, there are changes to be considered and new directions to examine. In which case, whether you’re the CEO, CFO, Chief Marketer or Chief Solutions Officer of your company, your journey to success is probably full of trials and tribulations.

    To support you in your journey to success, be willing to open your mind and sense of reasoning as you consider whether these traits are part of your driving force. If they are not yet ingrained within you, I recommend that you give them some thought.

    THE 7 TRAITS TO SUCCESS

    1) Successful Entrepreneurs Gain the Respect of their Peers

    One of the first and most obvious characteristics you’ll see operating in an exceptional entrepreneur is an equitable and unbiased disposition . Plain and simple the successful entrepreneur recognizes that no one is above or below. With an attitude of respect for others, the successful entrepreneur gains the respect from everyone they encounter. Strategies, attitudes and methods filter down to each person and reflect on all actions and activities. A successful entrepreneur gives everyone the space to be great. No matter how effective or beneficial your expertise, becoming a successful entrepreneur requires building up of your character muscles, traits and habits, which correspondingly make your dreams a reality.

    2) Successful Entrepreneurs Believe and Trust in Themselves

    The savvy entrepreneur is good at trusting his or her own ideas and instincts. Starting out as an entrepreneur requires persistence, determination and a high level of self-discipline. Continuing as a successful entrepreneur requires even more persistence, determination and self-discipline. The wise and successful entrepreneur knows this and works hard at developing their level of confidence. If you have a strong code of ethics and believe in yourself, then your ideas can work. Having the desire and passion are the first steps on your journey; getting there requires believing in yourself.

    3) Successful Entrepreneurs Follow a Plan

    The successful entrepreneur follows a plan. Haphazard or trial and error have no place for the triumphant entrepreneur, for no one gets to his or her destination without a map or a guide to follow. That doesn’t mean you won’t go off course if another road seems better, but it’s still more effective to have a plan in place. Most successful entrepreneurs start out by writing a basic business plan that acts as the impetus and guide for their endeavors. It doesn’t have to be fancy or lengthy but it should include marketing strategies, goals, intentions, ideas and why you can do better than your competition. A business plan should be reviewed and updated periodically for each new idea stirs and inspires other ideas.

    4) Successful Entrepreneurs Think Creatively

    Successful entrepreneurs are not afraid of thinking creatively. Whether a business idea has already been tried makes no difference to the exceptional entrepreneur. He or she sees better ways of doing things and knows that every idea can be expanded upon, made better, enhanced or broadened . The successful entrepreneur is willing to think outside or the proverbial box, which means using imagination, trying new things and expanding on a vision. The savvy entrepreneur pays careful attention as to whether a particular strategy is working. If after giving it his or her best shot the entrepreneur realizes the particular strategy isn’t working, they know there’s no point in continuing to invest energy, time and effort in the strategy. They move on to another approach and idea.

    5)Successful Entrepreneurs Explore Their Exceptional Skills

    Successful entrepreneurs realize that we each have our strengths and weaknesses as well as a multitude of skills and talents. Successful people ask themselves often what skills they have that no one shares in quite the same way. An exceptional and successful entrepreneur explores their particular skills until they find the ones that match most closely with their ideal. They don’t try to be and do everything. If the successful entrepreneur needs help, they’re willing to find someone who can do it better, and allows in the support. The successful entrepreneur stays open to change for they recognize that as they move forward, doors open in unexpected places that carry them to their next level of success.

    6) Successful Entrepreneurs Envision Their Success

    The successful entrepreneur gives time to envisioning how they want their business to look and how they want it to be. Intention is a powerful and dynamic tool. For those who are not inclined towards intention and visualization, talk to a successful athlete and you’ll discover that before each sporting event, the successful athlete envisions exactly how he or she wants things to turn out. Imagine what it will feel like when you’ve reached a particular set of goals. Get in touch with the feelings, you’d have as a successful entrepreneur. Practice and conceive of the sense of empowerment and the joy of having succeeded. The successful entrepreneur knows they have the power to live life the way they want, but to make it a reality, they know it has to be seen first.

    7) Successful Entrepreneurs Never Give Up

    Giving up is never in the vocabulary of the successful entrepreneur. Of course there may be days when a successful entrepreneur feels discouraged or disappointed, but giving up is not an option. Having faith, trust, confidence and determination are the qualities needed for the successful entrepreneur. To keep their focus on track, they seek out the support of those that know them, encourage them and bring out their natural enthusiasm. The smart and successful entrepreneur realizes that there will be good days and not so good days. Being a successful entrepreneur requires accepting the ebbs and flows of business for it is in fact what separates the exceptional and successful entrepreneur from the one who gives up far too soon.

    © 2004

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    Source by Robert Moment

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