Month: May 2018

Strategic Reasons Why You Need A Business Management Team

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I have watched or listened to several successful entrepreneurs and drop out billionaires being interviewed. I have read several business books and studied the business success strategies of famous entrepreneurs; and they all seem to share one thing in common. They all attribute their rapid business growth to their business management team. Now why is a business team important to an entrepreneur? Why should you build an in-house business management team when you can always seek external advice? What impact will a business team have on your business?

These are usually the questions I receive when I discuss the importance of having a business team with my protgs. You may be a small business owner operating a mom and pop shop but I still want you to know that you need a business team. It may not be your short term goal but you need to include it in your long term plan.

“Individuals don’t win in business; teams do.” – Sam Walton

No successful entrepreneur assembled a business management team in a day; it’s a process that can take as long as ten year before the perfect team assembles. Finding the right business team is definitely not an easy task and it is one of the ten major business challenges entrepreneurs face when starting a business. Now why do you need a business management team? Well, below are ten strategic reasons why you building a business team should be your long term goal.

Ten Strategic Reasons why You Need a Business Management Team

1. Raising Capital: One of the key reasons why startup entrepreneurs don’t get the venture capital is because they are trying to raise capital alone. A business mentor of mine once said that venture capitalists prefer an average product with an excellent business team than an excellent product with an average business team. If you should consider this statement; you will come to acknowledge that it’s the truth in its entirety. A business team is vital to the process of raising capital for your business; in fact, it increases your chances of securing the capital. Show me an entrepreneur that raised billions of dollars in capital and I will show you an entrepreneur backed by a strong business management team. Just like said in the investment world; money always follow management.

2. Taking advantage of new or existing opportunities: Having your own business management team will give you the leverage to take advantage of business opportunities effortlessly. A business team will be your eyes, ears and nose in the business world; they will not only help you sniff out opportunities but will also help you create opportunities out of thin air.

“A business idea is just another idea. But an idea backed by a strong feasibility, a thorough business plan and a smart team is no longer an idea. It’s now a solid business opportunity worth pursuing.”

3. Strategic business development: Do you want to grow your business from the inside? Do you want to strengthen your bottom line? Then build your own business management team. Strategic business development is not the doing of an individual but a collective effort of a business team. Employee performance programs, staff motivation and operational excellence are part of the duty of a business team.

4. Rapid expansion and growth: Take a close look at companies that grows rapidly and stands strong in times of economic recess and you will find a strong business management team behind such companies. The massive outside expansion of any company is the handiwork of the business team. An entrepreneur visualizes while the business team draws the plan; critique the plan and executes the business plan. For instance, take a look at the rapid acquisition move taken by Oracle Corporation; buying up a total of 57 companies within five years. That’s the power of a good management driven company.

5. Business leverage: How is a company able to operate successfully in different sectors of the economy? How can an entrepreneur successfully run a business conglomerate? The answer is leverage. The leverage of a business team is the reason successful entrepreneurs became billionaires effortlessly. Leverage is the reason why entrepreneurs such as J. Paul Getty and Carlos Slim Helu are able to run over 200 companies without burning themselves out. The leverage of a business team is a form of intellectual leverage. Just as a man is known by the friends he keeps; so is a business respected by the management team it keeps.

“Successful businessmen share the ability to hire people smarter than they are.” – Dillard Munford

“People are definitely a company’s greatest asset. It doesn’t make any difference whether the company’s product is cars or cosmetics. A company is only as good as the people it keeps.” – Mary Kay Ash

6. Increase confidence of the investors: Just like I stated above; money follows management and who provides the money? The answer is the investors. Nothing inspires or boosts the confidence of an investor than the professionalism of the business management team piloting the affairs of the company he/she invested in. Have you tried raising capital before? Have you tried sourcing for contracts before? Have you tried sending a business proposal to another company before? Have you ever tried selling a business before? Or better still buying a business? Have you ever taken a company public before? If you have engaged in any of these acts; you will come to accept the fact that one of the most popular questions investors ask is this:
Who is on your team?

Who on your team has taken a company public before?

Who on your team has experience in business management?

The questions above are real life questions asked by investors because they feel comfortable hearing the fact that the managers of their investments are competent.

7. Increase the entrepreneur’s credibility and competence: Observe the words of successful entrepreneurs and drop out billionaires carefully; and you will see that they attribute much of their success to their team. Have you ever wondered why some drop outs end up successful business owners? The reason is because they built their business on the shoulders of intellectual giants; who happen to be members of their business management team. An entrepreneur can never know it all and that’s why he/she relies on the calculative initiative of the business team. Show me an entrepreneur backed by a weak business team and I will show you an incompetent entrepreneur. So if being recognized as an entrepreneur of credibility and competence sounds good enough to be added to your resume; then build your own in-house business management team.

8. Strategic innovative thinking: Innovative companies are usually companies driven by a strong management team. Observe companies such as Microsoft, Apple, Oracle and Sony; and you will come to realize that these companies have being built, driven and sustained competitively on innovation. Now who are the engineers of innovation? It’s the business team; the brains behind the company. Tactical approach to issues, detailed competitive analysis and strategic thinking are benefits derived from having your own business team; so would you rather not have one?

9. Critical problem solving: How does a company survives a recession? How does a company survive in a fierce market? The answer still lies in the team. Entrepreneurs are known as critical problem solvers but I also want to add that problem solving is a product of collective strategies and ideas put together by a group of individuals; and such individuals in this case is your business team. Critical problem solving is the reason why teams go on brainstorming sessions. Now tell me, how do you create a brainstorming session when you don’t have a business team? I leave that for you to answer.

10. Increases the value of the business: Value appreciation is the last but not the least reason why you need a business management team. One of the most important assets of a business is the management team because with a good business management team; every other asset can be synergized into yielding positive results for the company. The reason why I call a business team your most important asset is because other assets are easy to create or control once the right business team is in place. So instead of focusing on improving your lifestyle; acquiring investments individually or running your business solely, I will advice you first build a business management team and the rest will fall in place.

Membership Sites – A Super Business Model For Recurring Income

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Membership sites are exploding on the net as the core of business opportunities. Membership sites that have month-to-month membership subscriptions can produce you a massive recurring income every single day, weekly month to month and for every single year ahead.. Membership sites are gaining popularity on account of of their solid business models and chance to create recurrent income from multiple sources. Membership sites are great revenue models, both for your own business and for having the allure to affiliate marketers who will be eager to profit from your program.

Abundant articles about membership sites appear to be by folks who have not actually owned a lucrative one. I will make the same main point in relation to membership sites that other folks do: in basic terms that they are the best marketing on the internet business model going. One of the biggest reservations about getting a membership site open is the challenge of the graft that goes into the first setup; but this is always get over.

Membership

Membership sites are thriving and more mand more favour WordPress as the content developmentstructure. The ease of WordPress blogs makes them ideal as a Membership management platform. Membership businesses are much less vulnerable to changes in the marketplace. I’ve listed below the peak OCI keywords from a search on membership sites that I conducted using Market Samurai.. High OCI means that those searching on that search term are more inclined to purchase. What is apparent is that here is a strong benefit in health-oriented membership & building online businesses around those topical key words would be profitable. The other key trend is that there is an appeal in setting up membership sites themselves: people are searching on terms like “membership site scripts” with an intent to BUY…

Membership site oriented key words with 60-99% OCI:

membership camping
gym membership
gyms membership
travel membership sites
health club membership
cash membership site
fitness center membership
membership site scripts * people are looking to set them up…
athletic club membership
membership site for sale
gym memberships
esporta membership
health and fitness membership
gym membership software
mini membership site* mini sites always a popular model
mini membership sites*
instant membership site creator* there is a market for the computer software
memberships sites
memberships site
membership sites for sale
gym membership rates
membership site software
nysc membership
build membership site
build membership sites
membership sites software
wp membership site
business membership site
membership site creator
membership site design
membership site owner
building membership sites
membership site management

Enterprise

Marketplace share is essential to any business and membership merchandising provides a way to acquire massive market share. You don’t need to be an expert… anyone can begin an Internet membership business. Here’s why you must. The membership business model translates into a dependable income stream. They offer stability – folks become members in something they are eager about or for something they need. A membership site offers you satisfaction of continual interaction with your clients. If you get an idea for a new enterprise I soundly endorse building it around a membership site.

Promotion

Internet marketing is not for lazy people! Even the most excellent and most appealing ideas need to be put ‘out there’ before they can work. If you do search phrase research in the Internet marketing niche you can observe that among the most frequently searched for expressions: is how to make money online.

If you’ve been struggling to break even with your on-line home-based business, or even if you’re earning ‘okay money’ using Internet marketing, affiliate programs, niche marketing or blogging, prepare for a MAJOR SHIFT in your beliefs. I must have tested them all: niche internet marketing, pay-per-click, affiliate promoting – in short, a whole raft of other ways to earn a living on the internet but nothing actually ‘clicked’ for me. My blog is THE most important marketing tool I’ve employed to profitably promote my membership sites. Another impressive feature of a membership site is that you simply have to generate the content once and subsequently you can keep promoting it again and again.

WordPress

WordPress is extremely well-liked for the reason that it delivers you a powerful contents management platform. With WordPress its uncomplicated to generate a multi-leveled membership site using free wordpress plugins. With a WordPress weblog you can immediately host password protected contents without special plug-ins being required. Thesis Theme is one of the most common, SEO optimized premium WordPress Themes that allows you to mark out your entire web site layout. Irrespective of whether the membership site is paid or free, WordPress is a perfect software platform to turn your blog into a cash-producing membership site.

Conclusion

Membership sites are able to sell for a top price for the reason that business people are conscious of the intrinsic worth of a buying customer base. No matter if youre seeking to sell-on or not, membership sites are magnificent way to make cash on-line. Historically membership sites required costly and complicated scripts.
A membership site can be a major informational focus. Information sells and you can undoubtedly make a great deal of cash by offering well packaged knowledge in the formula of a fee-based membership website. Entrepreneurs with huge membership sites typically have email lists numbering in the 1000’s and their brand gets known as expert. I did not anticipate that creating membership sites would be easy!

Explore The World With The International Business Management Program

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Postgraduate programs add more value to an existing college diploma or university degree through its specialized education. The courses are more intensive and students are expected to bring their skills to the programs. Due to the market trends relating to globalization, a popular postgrad program is receiving high enrollment: International Business Management offered at Centennial College. The three-semester program expands business topics including Business Law, Finance, and Marketing to a global scale.

With Centennials diverse and collaborative environment, the programs classes are filled with different ideas, attitudes, and experiences shared between students and faculty. The program is also a hit with the international student community, where a percentage of graduates are pursuing their careers back in their home countries, after a college education abroad.

The International Business Management graduate certificate program contains a course on preparing for the Canadian job market. The Employment Preparedness course gets you started in looking for career possibilities branching out of this program. In combination with your current credentials, students will prepare an application on targeted job postings resume, cover letter, and networking card. The students then participate in a mock interview simulation assignment. Centennial College student, Michelle De Souza, just finished a mock interview and is thrilled with her program: I really enjoy the IBM program because it allows me to work in groups while working on real life projects that I can use for my future career.

Students also get first-hand assistance in building their LinkedIn profiles, which is integral as a business professional, especially in North America. LinkedIn helps in building a personal brand and networking with professionals in your industry. However popular the online media may be, face-to-face communication still holds its importance. Attending networking events, presenting a sales pitch to a client, and day-to-day communication with colleagues all require good communication skills. The Business Presentations course in Centennials postgraduate business programs teaches students to become effective communicators and articulate their messages properly.

A major component of the program is the on-the-job training course, Business Experiential Learning. The internship is a competitive opportunity to practice your knowledge and learn valuable experience, before starting your career. Students complete several weeks of employment while preparing weekly reports to Centennial, based on their learning outcomes. They also gain advantage through a completion of an online portfolio in the Acadiate platform. Students have been hired directly after the internships are complete, eliminating the worrisome job hunting process and ensuring employment upon graduation.

Varying positions open, depending on your education and work background but common positions include Logistics Coordinators, Commercial Bank Officers, and International Marketing Representatives. In addition, students wishing to pursue further education in completing a Masters degree can easily transfer to Centennials partners, University of Western Sydney and Griffith University.

DISC Behavioral Styles Dealing with Dominant Dan

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How do you feel about people who like to be in charge and order you around? Are you one of these people?

This begins a series of articles on how to communicate with people who have different behavioral styles than you do people who can be intimidating, maddening, confusing, or downright irritating. The four DISC behavioral styles are based on the model defined by psychologist William Moulton Marston in his book, The Emotions of Normal People.

THE D (DOMINANCE) STYLE

In this article we’ll get a better understanding of how to deal with people who have a high D (Dominance) behavioral style. The D factor in our behavioral profile determines how we handle problems and challenges. Dominant Dan has no problem running the show. If he has a strong Core D style (Dominance is his highest factor), he’ll tend to be demanding, bold, driving, pioneering, direct, competitive, and determined. Dan must have authority equal to his responsibility in any situation; if not, he’ll find a way to take control sometimes to his detriment.

Dominant Dan has qualities that others with the same style admire; yet those who are low in the D factor see as liabilities or even as obnoxious behaviors. They include a willingness to take risks and a strong desire to win. Dan is results-oriented, argumentative, and quick to challenge. He doesn’t mind making mistakes; he’ll just correct them and move on.

D STYLE LIMITATIONS

If you’re like Dan, you need to know areas in which you are limiting your effectiveness. For example, you may act or speak before thinking, be impatient, create fear in others, try to juggle too much at once, interrupt and not listen well.

If youre low in the D factor you tend to be peaceful, agreeable, cooperative, cautious, humble, mild. You tend to think through a situation before making a decision. So you can see how people with low D factors can be intimidated by Core D Styles, and how Dominant Dan might get impatient with them.

If you work or live with those who have a Core D style, here are some of the ways in which to communicate and not communicate with them to be effective:

DO:

Be clear, specific, brief, and to the point Stick to business, be prepared and organized Be efficient

DON’T:

Ramble or waste their time socializing Forget/lose things or be disorganized Make decisions for them

If you disagree, don’t take issue with them personally.

COMMUNICATION TIPS

When communicating with Dominant Dan use direct eye contact, shake hands firmly, and use linear gestures. Your attitude should be confident and your tone of voice strong, clear, and direct.

Understand that this type of person wants to be in control. That doesn’t mean you have to let them dominate you; indeed they respect those who stand up to them. If you’re the type of person who dislikes confrontation, understand that Dan has no problem with it and at times thrives on it. Don’t let him bully you and yet try not to take his bossiness personally. It may help to realize that you probably do things that drive him nuts, too!

Admire Dan – and Dana – for their ability to take charge and efficiently get results!

Basics Of Accpac Software

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ACCPAC software can be your best bet if you are looking for effective business organization. There are various kinds of software available that can be customized as per your business requirements.

ACCPAC Accounting Software is the type of CRM system that covers all different areas of customer relationship management including internal sales, field sales, marketing information and customer care. The system enables you to trade more successfully and exchange the information at ease.

ACCPAC ERP offers an easy accessibility whereby the owner can access the service anytime anywhere. The same range of accessibility is provided to the customers and partners as well.

ACCPAC software is available in two different versions 100 and 200. Both of them take very little time to become active. At the same time, it offers an absolute integration in the office. Naturally, that saves a lot of time and money. What is even more interesting is that the ACCPAC Accounting Software accommodates the growing needs of the company. So, there are no changes required.

ACCPAC Pro, on the other hand, is a manufacturing and accounting system that maximizes the revenue and productivity. In fact, this is the ultimate business management solution tool. There are customizable modules and other features that can give you all the solutions for the business management problems.

ACCPAC ERP can be used for effective HR management, warehouse and customer relationship management along with plenty of other services. There are tools like system manager, general ledger, receivable and payable account, order entries, payroll and others that can add a lot to the growth of the company.

Again there is ACCPAC WMS, software that automate the handling process of the materials. It caters to the need of the distribution centers by enhancing the warehouse management. The system increases the accuracy in handling, accuracy of human resource and cost management. It also maximizes the productivity of the warehouse. The software will help you pick pack and transport the orders with accuracy.