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Tag: Building

  • Enterpriship – The Art and Science of Entrepreneurship, Leadership, and Management

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    Every individual who starts, owns, or is a member of the management team of an enterprise, should strive to build sustainable advantage. Sustainable advantage is essential to value creation because cash flows become predictable and reliable over long periods of time. As a consequence, it is easier to plan for investments in new endeavors and to maintain contingency reserves for downturns.

    Building sustainable advantage requires proficiency in the disciplines of entrepreneurship, leadership, and management. Collectively, these three disciplines embrace “enterpriship.”

    Enterpriship is both an art and a science. Art is an occupation that requires both knowledge and skills; science is method for systematizing knowledge. Through both knowledge and skills, enterpriship provides a systematized approach to building sustainable enterprises by employing the techniques of entrepreneurship, leadership, and management.

    Entrepreneurship is a competency for starting, developing, and assuming risk for an enterprise. Leadership is a competency for aspiring, inspiring, and motivating others. Management is a competency for directing and controlling events and activities – management as a “team” has the authority and responsibility for the enterprise.

    Being proficient in all three competencies requires experience. Entrepreneurs may lack the leadership and management competencies, leaders may lack entrepreneurial and management competencies, and managers may lack the entrepreneurial and leadership competencies to build a sustainable enterprise.

    Upwardly mobile entrepreneurs have to demonstrate to investors that they can build large markets. Lifestyle business enterprise owners, such as dry cleaners, hairdressers, professional service providers, restaurateurs, and retailers, are responsible for everything in their businesses. Executives and managers in larger enterprises are under constant pressure from investors to generate quality earnings on an ongoing basis.

    The enterprise depends upon the use of all three enterpriship competencies as do the employees, customers, suppliers and investors.

    When entrepreneurs start enterprises, they tend to focus on the benefits and features of their products and/or services. Intrapreneurs, who are agents of change in established enterprises, tend to do the same thing. However, focusing on products and/or services alone is insufficient for building sustainable advantage over time.

    Without people there is nothing in business. Processes must be effective and efficient at delivering quality products and/or services conveniently. If an enterprise can’t deliver, a competitor will.

    Hence, the management team collectively must be proficient in entrepreneurial, leadership, and managerial roles that dictate successful people-oriented, process-oriented, and product and/or service capabilities.

    The entrepreneurial role is both process-oriented and product-oriented, through which innovative ideas are transformed into value at every stage of an enterprise’s development.

    The leadership role is people-oriented, through which direction is set that others will follow to achieve results – equally applicable to top-level executives, team leaders within functions, or anywhere in between.

    The managerial role is process-oriented, through which resources (time, materials, and supplies) are applied to activities to achieve results.

    These three roles embrace the planning and policy development, deployment and execution, and performance measurement activities of the enterprise. Deployment means positioning the resources of the enterprise in the best markets for its products and/or services. Execution means getting things done through people and processes effectively and efficiently.

    Unless the management team employs these three enterpriship competencies collectively to address people, process, and product and/or service capabilities, the enterprise will be unable to build sustainable advantage over time, and will ultimately decline, and maybe fail.

    If the management team can systematize building sustainable advantage through the effective and efficient use of people and processes, then there more time to spend on developing the benefits and features of products and/or services. Enterpriship provides the approach…

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    Source by Nigel Brooks

    Views: 1

  • Effortless Entrepreneur – Book Review

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    By: Nick Friedman & Omar Soliman (2010)

    ISBN 978-0-307-58799-2

    Book Price: $17.00

    Multimillion-dollar franchise

    Nick Friedman and Omar Soliman are founders of, “College Hunks Hauling Junk.” This company has become a multimillion-dollar franchise and the nation’s premier junk removal service. Nick and Omar have been named among the Top 30 Under 30 Entrepreneurs in America by Inc., and have been profiled in the New York Times.

    Entrepreneurial success

    Nick and Omar supply readers with 13 chapters leading to entrepreneurial success. They discuss the following topics; the making of an entrepreneur (Ch. 3); creating your business foundation (Ch. 4); building staff and client loyalty (Ch. 7); optimizing your ability to make the sale (Ch. 10); working smarter and playing harder (Ch. 13), etc.

    Passionate pursuit of business dreams

    Nick Friedman and Omar Soliman relate their journey with passion and energy. This book conveys more than a love for building a business; it also exhibits practical steps along the journey. Nick and Omar relay, “As we expanded and built systems that allowed our company to function more effectively, we discovered that we could spend less and less time doing the everyday grunt work… and more time doing the things we really enjoyed… “

    The crux of this book shows how anyone can convert a common serviced industry into a wealthy enterprise. The authors state, “… now we’re trash men. Of course, by trash men we mean we’re Gen Y entrepreneurs in our mid-twenties who understand that trash is cash and transformed a summer gig into a multimillion dollar business.”

    Nick and Omar use challenging words to arrest readers from inactivity saying, “To succeed as an entrepreneur, be prepared to act on your ideas. Otherwise, you’re just another dreamer who wishes and longs and prays to have a business but never gets further than sneezing… people who turn ideas into reality make the difference… “

    Vision motivates! Friedman and Soliman express this key to success through practical examples as they share, “… the more passionate you are about achieving goals, the greater your chance for growth. Our vision was clear when we started… we didn’t blink twice at spending $13,000 to buy our 1-800-Junk-USA phone number… “

    Shift into entrepreneurial breakthrough

    Nick Friedman and Omar Soliman energize readers to shift into Entrepreneurial breakthrough in business.

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    Source by Dr. Steven J. Lynne

    Views: 1

  • Implementing the Character’s Emotion

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    Now that you’ve made your choices, how do you generate these emotions and make them readable to the audience? And in doing so, does the actor actually feel the emotions or simulate them? These are the questions often asked about portraying the emotion.

    It stands to reason if you want to affect the audience and move them, you, playing a credible character, must feel these emotions. But you must feel them in such a way that they are conveyed to the audience. The degree to which you feel each emotion will depend upon the method used to carry out this feat and your ability to master it.

    Actors involved in what is termed “Method Acting” use the affective memory to generate emotions. Here the actor recalls a specific event in his own life that has produced the required feeling. For example, remembering a fight you had with another student in high school could arouse the emotion of anger. Recalling the death of a close relative might generate the emotion of grief. The actor has to go back, replay the experience leading to the desired emotion, and relive those moments in his mind. Through this method, the required emotion is revived.

    There are some benefits and also some dangers in this type of emotional generation. Usually, emotions derived this way seem real and deeply moving, more so to the actor than the audience. That’s because there is a tendency to internalize these emotions so much that they are not fully evident to the viewer. The method does make producing emotions seemingly easy, but at a price.

    You will find that emotions take time to evolve naturally and resist abrupt changes when deeply seated in ones memories. This is one reason few method actors make it big in comedy. The changes come too quickly and the method actor usually lacks the required emotional agility. Likewise, the method process takes up valuable rehearsal and production time as the crew and cast wait for the actor to call up the right emotion.

    Actors using the method are likely to develop a self-indulgent feel “good” attitude which gravitates towards feelings closest to them and more comfortable for them to generate. The performance then becomes one that portrays the actor’s reality and not that of the character’s. You can see how this may stifle the actor’s imagination and limit the search for emotional truth. The method can likewise put a strain on the actor’s psyche. Using past events, some best left forgotten, can lead to situations where it affects the actor’s mental stability.

    Another danger is that of becoming bored with affected memory when repeated retakes or performances are required. There is also the possibility of being so caught up in past events one does not relate as the character.

    Another way to generate emotions is to rely on our emotional conditioning, the response to the word for each feeling, and the ability of the body to remember the resulting psychical (of the mind) and physical manifestations. This is the most simple way to produce a whole galaxy of emotions with little effort on our part. Through our childhood development, we are conditioned by the meaning of words, especially with regard to feelings. We respond to them without any conscious thought.

    Consider what happens when you are reading a good book or script. You become involved in the story and the characters. You see and feel their imaginary lives. And when you read the action description:

    She looks at his mangled body, then turns away in horror.

    The word itself is the key to what she felt. We don’t have to stop, reflect back on our own life and re-experience some past event. The response is there before we have time to think. The word itself is the signal to release all the information we have on that emotion and to invoke an immediate physical response.

    This response, while different for each person, still has common traits and a behavior that tells others which emotion is being felt. It’s almost a language in itself and a part of our non-verbal communications.

    The answer lies in the fact that in physiological terms, all emotions have similar traits. That is to say, if we were to test the breathing, heart rate, skin temperature, etc., of two people, one feeling rage and the other joy, the “physiological” signs would be similar. Only the face, gestures, and movements would signal which emotion they were actually feeling. But the flush face, the pulse and breathing rate, etc., all signifying the energy behind the emotion, would determine the size of the emotion.

    Through this process we have learned how to reach and find the emotion. But now, we must learn to nurture these feelings, making them big enough for the performance and adapting them to build credible characters.

    As we said before, emotions are feelings large enough to change your life or destroy it. They need to be powerful feelings, but all that you start with is the small sensation that the name of the emotion evokes. How can we make it bigger?

    As the word for the emotion is read, the actor feels a response centered somewhere in his body. For instance, the emotion “fear” might be felt in the stomach. For another actor, it might be in the shoulders and neck. “Suspicion” causes a response around the eyes. “Lust” in the hips or groin. “Desire” could be centered in the lips or eyes.

    For each actor, the physical response will vary. But the important thing is that the actor feels these responses and gains awareness of the physical symptoms in various parts of his body.

    How do we increase this energy level? There is a technique taught by Don Richardson, a well know TV director. It entails having the actor do some physical exercise, such as push-ups, until he’s completely out of breath. Then after a few moments, have him go directly into the scene with his intention and emotion located and his energy level at a peak. The result is astounding for the actor has no choice but to emote fully.

    The next step is to start from a totally relaxed state, retaining the selected intention and emotion, and then adding what one felt at the peak when doing the push-ups. The small emotion is now fired up by a burst of adrenaline flowing through the system as the body recalls the effect of the push-ups. The emotion is thus achieved on a large-scale as the body remembers the intense physiological state attained earlier.

    Now the emotion has to be adapted to create your specific character and make him credible. Credible emotions evolve out of the character’s perception of reality, their past experiences (emotional conditioning), and their struggles as they strive toward their goals. Character traits also play an important role in how emotions are adapted. For instance, is the person you are portraying mainly rational, mainly emotional, or a balance of the two, and as a result, would the feelings be out flowing, repressed, or even denied? Is there a great deal of inner conflict where the emotions hinder the character from attaining his objectives? What is the dynamic range of feelings, deep, shallow, explosive, etc? All these questions entail a good deal of research into creating the emotional side of a credible character.

    To assist you in this regard, I’ve compiled discussions on the various root emotions. These will aid you in adapting emotions to your specific character needs as well as improving your emotional range and awareness.

    The third way is indicating the emotions through mechanical acting. In this approach, the actor imitates the physical responses, mimicking the feelings as displayed by others.

    People often look down on mechanical acting. Yet sometimes, it becomes a necessity, either as a training or rehearsal tool exploring possible expressions and gestures, or when the actor’s capabilities cannot fulfill the complex demands of the scene. Demands such as acting style, blocking, stage business, and/or quick precise attitude and emotional changes. In such situations, producing the proper emotional illusion through a mechanical response will, at least, get the actor through these difficult moments. In addition, the director may specify certain emotional responses to attain his vision of the story, responses that may later be embellished by editing, music, and sound effects.

    In certain types of performances, particularly comedy sketches, parities, certain sit-coms, and stand up comedy, experience with mechanical acting is helpful. This is because the focus is centered on dialogue emphasis, precise timing, and clarity of attitudes. Likewise, exaggerated surface emotions have the potential to change unexpectedly while deeply felt realistic emotions lack this agility.

    This is not to say that the actor can not feel these emotions. In fact, he may feel them strongly, but the expression begins as a duplication of some physical response. Life studies, the observing of real people, nurture such emotional beginnings.

    ROOT EMOTIONS

    Root emotions are active feelings that clearly convey what is felt by the characters. They do not include happiness, sadness, sorrow, loneliness, or nervousness as these are not an emotion, but state of being. The state of being is the result of an emotion. Root emotions, on the other hand, are the cause and have the potential to affect change.

    Certain weak and complex emotions should likewise be avoided. Self-pity is weak in that it plays an effect and is often resented by the audience. Disinterest and boredom are likewise poor choices as there is no active force to motivate the character.

    Love is also a poor choice in that it is a complex emotion made up of many other feelings. Playing the feeling of love immobilizes the character rather than inviting action. A better choice would be to play a definitive emotion such as desire, lust, joy, exhilaration, or exaltation. In an unstable relationship, other emotions such as jealousy, suspicion, bewilderment, guilt, or embarrassment, along with certain other emotions, could be used. By using one single root emotion at a time, subtle shadings within the realm of love can be clarified as well as changes in the intensity.

    The emotions of the characters also plays into the psychological experience of the audience. It might be the voyeurism of spying on the character’s intimate moments. It could also be the vicarious experience of identifying with character’s situation or problems. It could also be the visceral feelings we experience as we watch the scene unfold, emotions moving us and giving us a sense of being entertained. Strong emotional choices and well-portrayed feelings, ones that connect with the viewer, can make for interesting and memorable scenes. They can help create anticipation, arouse curiosity, and hook us enough to be intrigue and involved.

    I’ve divided the most frequently used root emotions into five different categories. Each category is further clarified as to the focus of the emotion as well as the general clarifications.

    ROOT EMOTIONS

    DARK EMOTIONS (Active – Directed at or against someone, something.)

    Rage

    Anger

    Hatred

    Contempt

    Jealousy

    Envy

    SURVIVAL ORIENTED (Reactionary – Selfish – Focus usually on the expected or imagined.)

    Terror

    Horror

    Fear

    Dread

    Despair

    Grief

    Suspicion

    Apprehension

    GOAL ORIENTED (To find, to obtain, to provide – Focus usually on wants.)

    Revenge

    Ambition

    Greed

    Hope

    Desire

    Lust

    Determination

    Compassion

    Curiosity

    EGO ORIENTED (Self evaluation & result – Focus usually on masking or repressing the emotion.)

    Guilt

    Shame

    Indignation

    Intimidation

    Embarrassment

    Resentment

    BRIGHT EMOTIONS (Enjoyable – upbeat – Focus usually on the continued enjoyment.)

    Exaltation

    Joy

    Pride

    Exhilaration

    Wonderment

    Bewilderment

    In review, root emotions motivate you to fight for something, to change your (the character’s) life or destroy him (the character’s dramatic soul). To be a strong sympathetic character, always play the fighter’s side of the emotion, thinking you can win rather than loose. The physical look of one particular emotion will vary depending on the story situation, the characters, and the natural casting chemistry within and between actors.

    To further your knowledge on this subject, explore the physical sensations, sources, forms, and dynamics of the most common root emotions. Observe emotions in life as well as performances. What are the defining characteristics? Such research will also serve as a guide in stretching the clarity, strength, and polarity of your emotional repertoire.

    This chapter has covered the basic skills used in building and implementing dramatic emotions. Use these skills as tools to nurture and release the character’s true feelings, and make them readable to the audience. Most important, create emotions that serve the story, its genre and purpose.

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    Source by Erik Sean McGiven

    Views: 0

  • How To Start Marketing Your Business

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    To new business owners, starting a business is often its own reward. They are thrilled to be able to be their own bosses, and to successfully get a business up and running. Often they are happy just to keep the dream alive.

    But every business needs to grow. That doesn’t mean you have to reach out to a larger market – it means working toward increasing your share of the one you are targeting. This will keep your business healthy enough to survive obstacles such as tough economic times.

    In order to keep moving forward, we need to market our businesses constantly. We need to dedicate a certain percentage of our resources to building our brand and reaching our target market. Here are some simple things you can do to help your business grow.

    Have a clear picture of your target market.

    Find out what types of people use the products and services you provide and respond to your business philosophies. If you’re not marketing to the right people, all will be lost.

    Research, research, research.

    Determine how to best reach your target market and what they expect out of your offerings. Study your competition carefully, and make note of what they’re doing right and wrong.

    Choose your marketing channels wisely.

    If your target market rarely reads, there’s no point in advertising in a magazine. Use what you’ve learned about them to find the best possible outlets for your message, and focus your marketing efforts there.

    Give your advertising a chance.

    Studies show that consumers require repeated exposure to a product before they will even consider buying. So don’t be surprised if one ad run doesn’t bring spectacular results. If you’ve done your homework and found a viable way to reach your market, run the ad at least two more times before you evaluate the results.

    Take advantage of free publicity.

    Sending out press releases and finding other ways to attract the media will give you high-quality exposure, and it won’t eat into your budget.

    Keep track of the effectiveness of your marketing efforts.

    If what you’re doing is working, you should be generating more revenue. Use some of that revenue to do more marketing. If it isn’t working, make adjustments and try again.

    Sometimes you’ll have to take a step back with your marketing plans. But that’s not a sign you’ve failed. It’s a sign that you’re a smart marketer. Sometimes the market changes, and it’s up to us to monitor those changes and adjust our marketing plans accordingly. No successful company markets the same way forever. By evolving with our target market, we can make our marketing work better.

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    Source by Jon Allo

    Views: 0

  • Sell Junkyard Auto Parts and Make Money From Home

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    A lot of people make some serious money from home selling junkyard auto parts. My husband’s been doing this for a while now and just loves it! I’m still amazed at how untapped this market is. Maybe because when you sell junkyard auto parts you’re not sitting at a computer all the time?

    But working from home doesn’t always mean making money online or just from your computer, especially if you’re doing any type of arbitrage deals.

    And there are thousands of people looking for cheap auto parts online. Why not get in the game and be one of their salvage auto parts suppliers?

    This is business that you really don’t have be a mechanic or detail specialist to make some real money, especially if you’re just dealing with interior or exterior restoration parts or basic engine parts.

    For example, a head rest is a head rest. Unscrew some parts and pull it out. Door panels are door panels. Unbolt them from the hinges and take it off. Engine components may be a bit trickier but you can always go on YouTube and find out what the parts are, what they do and even how to remove them.

    But even in this type of a business, you may want to specialize in a niche. What do I mean by a niche when it comes to used auto body parts? Pretty easy. Here are some ways to drill down a niche just by specializing…

    1. … in a particular make and model of vehicle
    2. … in sports cars
    3. … in truck parts
    4. … in engine parts
    5. … in exterior body parts
    6. … in interior restoration parts

    Just think about all of the parts that go into building a vehicle, whether it’s a truck or car. Some parts are even interchangeable between makes and models. For example, I needed a new front fender for my 2001 Mercury Villager. Did you know that the 2001 Nissan Quest has an identical body to the same year Mercury Villager?

    They do! So my husband took the parts off of a junked Quest and replaced the fender and front light assembly on my Villager.

    The cup holder assembly in my Villager cracked too. But instead of replacing that unit, he found a narrow console with built-in cup holders from a Dodge SUV that fit perfectly between the front bucket seats of our Villager. Same color and texture as the interior of our car; that console looks like it came with our van!

    So now we have three “new” cup holders in the front, and two additional cup holders for the rear seat, from one $10 used Dodge console.

    You will have to do some research on eBay before going out and spending money. You can’t just go out and buy any junkyard auto parts and expect them to sell. There are some steps involved to making this a profitable at-home business.

    1. First, get a price list from your local salvage yard. Look for the least expensive parts on the list.

    2. Look up the parts on eBay and filter by Sold listings. Take an average of what those parts are selling for and see what your profit margin is. For example, if it’s going to cost you $10 to buy the part and it’s selling on average of $85 or more, and there are a lot of them being sold, you’ve got a winner.

    3. Take into consideration how much time and effort you want to put into pulling the parts off the vehicles. Some parts are pretty easy and you’ll only need a couple of screw drivers on hand. Other parts can be rather tricky, depending on whether you’re dealing with interior, exterior or under-the-hood parts.

    4. Another thing to think about is the weather! Here on the east coast it gets really blustery during the winter. And in the spring, it can get pretty muddy out in the yard. So you need to make sure you’re dressing for the weather – be prepared for anything.

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    Source by Karen S Musselman

    Views: 0

  • What’s The Difference Between Direct Sales And Network Marketing?

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    My purpose and commitment is to really help you understand and appreciate the MLM industry. One of the things you need to know when shopping for a business opportunity that is built on the multi-level marketing format, is not only how these businesses work but which one will compliment your skill set, personality and area of expertise.

    The Difference Between Direct Sales and Network Marketing

    Direct Sales and Network Marketing are both based on the multilevel marketing business model. MLM or Multilevel simply refers to the business structure in which the compensation plan is mapped out. The Direct selling and Network marketing vehicle is the actual distribution system or the way the products are dispersed.

    With Direct Selling, the emphasis is usually on direct, person-to person product distribution, which typically involves the independent sales representatives earning a commission from the products that they sell directly to the customers.

    The usual way of getting their products out to the masses or finding customers is by hosting product parties, trunk sales, booths and etc., by way of their circle of influence. Advancing in rank is dependent upon the volume of products sold.

    In some companies you can recruit other people to hosts parties in which they would be offered a discount on the products for hosting that party and also earn free products if they sell a certain amount of merchandise.

    This is important to know if happen to be a really good sales person or if you hate the thought of selling in this way, when choosing a mlm company.

    Some examples of Direct Selling companies are:

    Avon, Natura, Vorwerk, Herbalife and Mary Kay

    Now with Network Marketing, the emphasis is on team building. Building a team of partners who are in agreement to use the company products in their household as well as share products with others outside of their network.

    You are basically the customer as well as the business owner and you are able to sponsor, support and train others who want to build a business of their own. So the importance here is on building an organization of like minded individuals who use and move product within and outside their network.

    In network marketing, you also have the flexibility to host product parties or have a booth, etc., in order to promote your products if you so choose. You are the business owner, not just a sales representative so you have the power to run your business as you see fit.

    This model is a great if you love networking, team building and training others.

    Some examples of Network Marketing companies are:

    Sisel International, Vemma, Amway and Visulas.

    Some direct sales companies also incorporate the network marketing team building model as well depending on the compensation structure, so make sure to do your research.

    Understand that the purpose of both models is product distribution, but, it’s the way the distribution happens and the way you, the marketer, gets compensated, that makes the difference.

    On a side note, steer clear of companies that don’t have a product OR they have a limited product line that offers little to no value to the public.

    End the end, the difference between direct sales and network marketing is fairly minimal. Both serve as an opportunity for the ordinary individual to build their own business, delivering quality products to the masses in a less expensive and more personal way.

    By eliminating the middle men; expensive advertisers and merchandisers, the network marketer and direct seller can create residual/ passive income from home with less time, less money and less hassle than the traditional business model.

    So Tell Me…

    Have you ever owned a network marketing or direct sales business?

    What did you like or dislike about it?

    Did you find it too challenging? If so, tell me why.

    I would love to hear from you!

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    Source by April Ray

    Views: 0

  • Why Your Workplace Needs Drug and Alcohol Testing

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    Modern workplaces have shown emergence of drug and alcohol misuse by employees both within and outside their offices. It will not be wrong to say that almost every workplace accounts for at least a couple of incidences related to drug and alcohol abuse. It is for this reason, that every workplace must have a drug and alcohol testing program. But it is not enough only to test employees for such substances. It is important to educate them and make them aware of the negative results of addiction too.

    Drug and alcohol management therapies form the next stage of the drug management programs initiated by employers for their employees. It is quite encouraging to see business organizations striving to make their workplaces secure and drug and alcohol free.

    Here we must be aware that we are not discussing use of drugs and alcohol at the workplace alone. Of course, this kind of behavior by an employee can have serious repercussions. Besides the possibility of injuring himself, the employee can hurt or injure others in the vicinity too. There is also the danger of causing harm or being injured if the employee who is under influence is operating any heavy machinery. More often than not, the reason for accidents and mishaps at factories and workplaces and sites is an employee who is working under the influence of drugs or alcohol.

    Most employees refrain from consuming drugs and alcohol at their workplaces. However, they are not stopping themselves when they are out of their workplaces. It is not enough if an employee does not use alcohol at the workplace. It is important that he keeps away from it even when away from work.

    Going beyond drug testing, drug management programs can educate employees about why they need to take control of their lives. They are counseled by experts and also sent for medical examination to detect any health problems they may be facing due to drug and alcohol abuse.

    The business owner or employer may have spent years building up a good reputation. But one small incident can tarnish the reputation of a business organization. That is why t is important for employers to be aware of their employees’ behavior. A good drug and alcohol testing management program takes care that the privacy of both the employer and the employee in question is now jeopardized.

    Your employees make your organization what it is. They deserve a safe environment. In the same way, your clients, associates and visitors to your workplace must feel good about coming to visit you.

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    Source by Avisha Jain

    Views: 0

  • Customer Trust and Loyalty

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    Customer trust is a precondition for prosperity. Yet, most businesses…

    o Act as if customer trust develops because the business believes it is honest.

    o Build only a shallow type of trust that does not lead to profitable relationships and loyalty.

    o Have no strategy to build the type of trust where customers increasingly value the relationship.

    Now is an excellent time to aggressively and systematically work at building customer trust. Virtually all businesses have been tainted by the general rise in societal distrust of companies.

    o A recent Datamonitor study of consumers in the USA and Europe found that 86% are less trusting of companies than they were five years ago.

    o 80% of people stop buying products or services from companies when their trustworthiness comes into question (Edelman 2005 Trust Barometer)

    o People spread distrust to friends and associates, the people we trust most.

    o Over 33% who lose trust in a company, openly campaign against that company on the Internet.

    The Datamonitor and Edelman research demonstrates that it goes beyond a few isolated cases. Furthermore, according to a Yankelovich study, more than two-thirds of people don’t believe advertisers and marketing. They see it as self-serving distortions.

    Customers want to do business with companies they trust but, don’t know who to trust. Therefore, companies that proactively demonstrate trustworthiness stand to gain a tremendous source of competitive differentiation.

    What is trust and why is it important to customer relationships? Webster gives two definitions of trust that help separate the wheat from the chaff.

    1. firm belief or confidence in the honesty, integrity, reliability, justice of another person or thing.

    2. confident expectation, anticipation, or hope; as in trust in the future.

    Most companies believe they are trustworthy but only measure up to the first definition. They want to be known as a company that is honest, reliable and fair. They expect their products live up to expectations and when they don’t they think they treat customers equitably.

    Do you think your company measures up? If you say yes, ask yourself what you proactively do to build this trust. Many companies have no deliberate strategy.

    If you have a deliberate strategy, now might be a good time to question how well it is working. As mentioned above, Yankelovich’s research shows that most customers don’t believe your marketing and advertising. And, the Edelman Trust Barometer concluded that when looking for a credible source of information on a company or product, CEO’s, employees, public relations people and celebrities rank in the bottom half.

    Measuring up to the first definition of trust is essential to sustainable and profitable customer relationships. However, even if customers believe your company is honest, reliable and fair, this is no guarantee they will be loyal and profitable. To garner commitment, profitability and high lifetime value, a company must measure up to Webster’s second definition as well.

    Businesses that meet the first definition but not the second, run into the Satisficing Trust Barrier. Satisficing trust is the trust that allows a customer to feel comfortable in buying products or services from a company. It is a sense of confidence that the company will stand behind the product. It is sufficient trust to purchase a well-defined product, a commodity. In a world of abundance and overwhelming choice, satisficing trust does not insure repeat business. Customers buy commodities that offer the best trade-off between satisficing trust, price and convenience. Some companies become complacent because they feel they offer the best combination of the three. Unfortunately for them, all it takes to lose customers is for a competitor to create the perception of a better deal. No real relationship value has been accrued by the company who wins business this way.

    The operative words in the second definition of trust are “hope” and “trust in the future.” Many purchases these days are not commodities; they are not well defined and may not have a track record. To make these types of purchases the customer must take a “leap-of-faith,” and this requires trust. In this type of trust the customer must believe that the vendor company is truly interested in a win-win relationship. That is, they are interested a long-term relationship where both parties benefit. This type of trust grows out of experience with a company demonstrating a real commitment to win-win. Since virtually all customers have been “burned,” companies often have to subjugate their short-term interests to stimulate the development of faithful trust.

    Customer want to build relationships that help them more confidently make “leap-of-faith” decisions. Being able to rely on this trust helps them simplify things in an increasingly complex world. When this happens, trust in the relationship becomes more important to customers than price and convenience. It starts with “hopeful trust.” Customers want the best for themselves. They want to adapt and to embrace change, and they will place extremely high value in relationships that help. Customers are on the lookout for signs from companies that their “hopeful trust” will be well placed. But this “hopeful trust” is just a test. If experience demonstrates that trust in the relationships is justified, faithful trust will emerge.

    When trust morphs from “hopeful” to “faithful,” a very significant twist occurs. The main concern of customers shifts from price and utility to the seeking of advice and guidance. When price is an issue, customers withhold information. When they seek guidance, they openly share. “Faithful trust” enables this openness. It also enables both parties to prosper and builds a basis for co-adaptation, now and in the future.

    The trustworthy company gets the immediate sale, but they get much more. Snafus or mistakes that might have once terminated a relationship are now overlooked for the sake of the relationship. Customers become turbocharged advocates. They don’t merely tell others what you sell; they vouch for you and the relationship value you deliver. They come to depend on your business and, as a consequence, they want you to thrive.

    The real-life story of Billy Blue, a men’s clothier in San Francisco illustrates the power of fully trusting relationships. Billy Blue’s thriving business took a nose dive during the dot.com crash. The downturn was so severe its owner, Billy Bragman, considered closing his doors. Instead, he wrote his customers a letter explaining the situation and asked them to buy more clothes. Even though many of his customers had their own business “trial and tribulations,” they increased their clothes purchases. One guy sent a check for $2,500 with a note saying, “You know what I like; just send me some new clothes.” Billy Blue customers could easily have turned to other men’s stores but they chose to support Billy Blue. They valued their relationship with Billy Blue and didn’t want it to go out of business.

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    Source by John Todor

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  • Advantages And Disadvantages Of Living In Apartments And Villas

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    Today, villas are becoming very popular. As opposed to the space you get to enjoy in a villa, residing at an apartment can be very restrictive, most especially when you have kids. Property experts emphasized though that living in both have their own pros and cons. By being aware of these pieces of information, you can decide if buying a villa instead of staying at an apartment in a hotel is a smart decision or not.

    Living In An Apartment

    Certainly, security is better if you choose to live in an apartment. A non-resident individual can’t just enter in an apartment building. Neighbors will also be very close to know it something bad is going on and can quickly call the police. When it comes to water, gas, and electricity, life will be a lot easier. These things will be provided by the building. Maintenance will also be stress-free due to the fact that the real estate owner is responsible for the building’s upkeep. In case there will be a park where your family and friends can spend quality time in, it is likewise the building owner’s responsibility to keep it clean and damage-free. Most importantly, you will get access to important facilities.

    On the other hand, maintenance costs can be very expensive – this will depend on which building you bought the apartment in. Since you have nearby neighbors, your conversations may possibly be heard. But you can always make your apartment soundproof. You may also have a limited space. Moreover, expansion is not possible because if you purchase an apartment, the area you have invested in is fixed. Of course, you can’t just break down a wall if you want to make your area more spacious.

    Buying A Villa

    If you choose to buy a villa, you will get to enjoy freedom. You will not feel like you are a prisoner inside. This further means that your movement won’t be limited. In fact, you can expand if you really want to and decorate your room with whatever design you prefer. Moreover, you can have a garden in your yard. A garden will make your property more beautiful. If not, you can choose to install a swimming pool in your yard if it does not have one yet. Lastly, a villa will certainly make you appreciate what a real home feels like.

    On the contrary, security is not tight if you live in a villa, most especially when you are away. Apart from that, you will also need to pay for facilities, and manage gas, electricity, and water by yourself. Most importantly, the location might be a bit hassle to you if you are working within the city.

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    Source by Brian E Bell

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  • Make Money Through Internet Entrepreneurship

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    There are many opportunities in internet entrepreneurship that anyone can utilize to make more money. You can be a laptop entrepreneur where you use your laptop anywhere to do business online at your own pace. This entrepreneurship is flexible and, if utilized efficiently, can enable one to make more money online.

    You can be an expat in another country and still earn money through internet entrepreneurship. You can go anywhere in the world and still do business online as a laptop entrepreneur. The profession is flexible and offers many options. However, it is not for the faint-hearted. Building a brand name on the internet does not happen overnight. It needs someone who is persistent to succeed. Competition is fierce and, therefore, needs one to put more efforts to success online.

    As a laptop entrepreneur, you can choose to do internet marketing, email marketing, social media marketing, web designing, web development, customer support management, article writing, blogging, and programmer, to mention just a few among hundreds of options. There are vast opportunities in these professions while working online at your own pace. However, you need to build your name before you can have a comfort zone of working from home.

    There is a growing demand of web designers online because big companies want an optimal online presence. They want to compete online because there is a large customer base on the internet. Whoever helps these companies to rank high in search engines can get sufficient income. Once you do a good job then many companies will come for your services as a laptop entrepreneur. Your channels will widen and thus making living good for you.

    A laptop entrepreneur who specializes in search engine optimization is also in high demand. Many websites need search engine optimization in order to increase their visibility online. Therefore, someone who excels in SEO can earn a lot of money just by working through internet entrepreneurship. Big and medium-sized companies are willing to cash-out on laptop entrepreneurs who can give them positive results. There is a plethora of opportunities on internet entrepreneurship.

    The other growing trend is seen in internet marketing. Everything is about gaining more traffic online. Companies are willing to pay internet marketers who can help promote their products to a lager customer base online. Opportunities are vast for a laptop entrepreneur. The profession is for someone who enjoys working alone and taking risks associated with internet entrepreneurship. A determined, committed, self-motivated, and self-disciplined person can survive in an online business and, therefore, make more money.

    Article writing and blogging are also good channels to follow as a laptop entrepreneur who wants to maximize earnings online. They are also a form of marketing and generating traffic to websites. There are opportunities for laptop entrepreneurs.

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    Source by Corey Ferreira

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