Monthly Archives: April 2017

Building Business Partnerships

As a small business owner or business development executive there are several things to remember to do when establishing new joint venture marketing business partnerships. The following is a list of critical items to be conscious of when buildingbusiness partnerships that will make sure your business finds the right partners and mutually beneficial business deals that maximize the opportunities and results in growing your company. All business partnerships have their positive and negatives, however as a business executive it is critical that you understand the risks and areas to focus on to reduce small problems from turning into deal killers.

Top 5 To Do’s When Building Business Partnerships

1. Research – It is nearly impossible to build successful business partnership without doing a considerable amount of market research and analyzing the business of potential partners. Failing to adequately understand a prospective partner can only lead to future problems. This could be something as straightforward as not having access to the right client base or simply being a mismatch culturally. Therefore it is absolutely necessary to spend the time and resources to research the opportunity fully.

2. Examine Customer Base – Before finalizing a partnership that promises to give your brand or products access to new customers, request customer demographic data and information on a couple of their key customers that can be cross referenced.

3. Meet in Person – In-person meetings with the executive management of the potential business partner is always better. While most communication can occur in the traditional forms of email and phone calls, it is best to ask for an in-person meeting very early on in the process when determining whether a business is a good candidate for a partnership.

4. Develop Performance Based Incentives – Depending on the nature of the businesspartnership that you’re creating, compensation can come in many different forms. Packages that include revenue shares and/or bonuses will ultimately reap more rewards compared to partnerships that do not include performance based incentives for growing the partnership. Be sure to include methods for compensating specific team members as some will be capable of selling more than their peers. You may also want to offer bonus incentives to the sales team as a whole for their combined efforts.

5. Hire Experts to Eliminate Errors – Small business owners need support in executing successful partnerships and maintaining focus on existing customers and product development. Enlisting outside support will ensure the partnership is built properly. Hire a lawyer that can provide a partnership template that can be used for drafting the agreement between the two companies. Using a template will reduce legal fees when forming future partnerships simply by having a lawyer finalize and sign off on any adjustments to the template with each new partner.

You may also want to find a business consultant that specializes in joint venture marketingpartnerships. These consultants will save you valuable time by identifying new partners and making first contact. Hire the right consultant and you can get your foot in the door with your dream business partners and have their expertise at your disposal required to draft a partnership agreement that will ensure a profitable business relationship.

Keep these ideas in mind the next time you are in charge of building a business partnership and you will be much more likely to align with the right partnerBusiness Management Articles, in a mutually beneficial relationship that can be put together in a relatively quick time frame.

Business Electronic

Electronic Business involves processes such as electronic buying, supply chain administration, customer service dealings, business partner’s collaboration and electronically processing instructions. Unique technical values for electronic business assist the substitution of data among companies. Electronic business software clarifications allow the incorporation of intra / inter company processing.  E-business is performed using the internet, intranets, extranets or the grouping of all these.

Application of e-Business:

There are three main application areas of e-Business:

  1. Internal business organization: This includes customer relationship administration, project resource planning, deed management schemes and human resource administration.

Customer relationship administration is the custom of cleverly finding, promoting and examining customers. Technologies that sustain the business principles include the capture, storage and study of vendor, partner, customer and internal progression information.

Project resource planning incorporates all the information and procedures of a business into a combined system.  This system includes multiple mechanisms of software and hardware to attain the integration. A combined database to store information for different modules is the key ingredient of the project resource planning system.

Deed management scheme is a collection of computer program to follow and store electronic documents. Digital property management, image documentation, record management systems and workflow systems relate to the Deed or document management scheme.

Human resource administration is the calculated and rational approach to the organization’s treasured assets. Human resource administration is a business practice and an intellectual theory that deals with the hypothetical and the realistic method of administrating a workforce.

  1. Project communication and association:  This system includes voice over internet protocol, content administrative system, voice mail, e-mail, business process management and web conferencing.
  2. Business to business e-commerce: Includes online shop, online multi level marketing and supply chain management.

Consumers purchase products or perform tasks over the internet using online shops. Online shops suggest physical correlation of product purchasing or other services at a shopping mall.

Supply chain management is the technique of scheduling, executing and controlling the tasks of the supply chain professionally. SCM carries out the movement and accumulation of raw products.

Online marketing is the promotion of products or other service areas through the internet. One of the advantages of online marketing is low cost. In addition, it readily provides information to global audience. The cooperative nature of online marketing business is a unique quality.

Models of e-Business:

E-business model is practiced online for the benefits of customers and suppliers.  Some of the models are E-shops, Virtual communities, Collaboration stages, Third party market place and many more. All these models are emerging types of computer software.  Collaboration stage is a combined stage that maintains synchronous and non-synchronous communication through different channels. Virtual community is a collection of people at initial stage.

There are major classifications of E-business such as business to business, business to consumer, business to employee and many more. HenceScience Articles, E-business helps to make the communication faster in this fast growing world.

Logo Design Business

Business logo is a solid characteristic of a company and is represented with signs and symbols to represent the firm’s image.  There is a large collection of business logos in the market, but very few have succeeded to make a lasting impact on customers.

The most important factor considering the construction of a logo is its uniqueness and clarity.  The logo needs to be small, easy and cost effective.   There is no necessity to waste money on branding, if a company has an effective logo.

Appoint professional and talented designers to get a quality logo.  These designers can create modified commercial identity resolution with the exact image required by the company.

The best place to find business logo designers is the internet.  A company needs to select a logo design that fulfills the needs as per the budget.

Points to Select a Logo Design Service:

To achieve a perfect logo design, a company needs to follow the below listed points:

  • Request for a reference and make a follow-up to make sure that the work experience of the logo designer mentioned is genuine.
  • If the company lacks basic idea about the appearance of the logo, discuss it with the designers and implement their options.  These options help the company to select the best logo.
  • Insist for an initial plan, since it is essential to sanction some time for giving valid suggestions to the logo designers.
  • Search logo designer services with a large number of designers having variable ideas on logo design.  There are chances to get more selections from people for implementing them on the logo design.
  • Make sure that the logo designer does not implement any clip art or previous templates to the current logo design.   Because, there is a chance of being accused with copyright crime and the company will not get a unique and powerful logo with a previously used stuffs.
  • Put a request to apply the final replica of the logo in an (Encapsulated PostScript) EPS file or an Adobe illustrator in order to rate the logo whenever required.  Other formats such as JPEG or bitmap are not suitableArticle Submission, if it is a huge poster or billboard valid logo.
  • Ensure that the finalized logo is a unique design and there are not any legal rights of the designers on the logo.

Overview:

Make sure that the designers do not claim an over charged fees.  Some services provide plans that consist of the entire charge list along with the cost of review.   Search the internet and collect the information for a valid cost that will certainly avoid excess charging.

There is no doubt that the vital branding tool for a company is its logo.  An impressive logo enlightening the basic idea of the business brings out real success.

Maintaining Business Continuity during a Crisis

Preparedness Makes the Ability to Continue Business

If a business experiences a crisis of any kind, one of the first decisions that will need to be made will be whether or not the business is going to continue to operate during the crisis. Because emotions run extremely high during a crisis and people do not think as clearly, basing this decision on a clearly stated policy effectively helps remove the stress. These criteria should be one of the first things addressed in a crisis management policy.

After the Decision to Continue

Once the decision has been made to continue business operations, you must have a policy in place that will instruct those in authority what adjustments should be made to ensure that operation will be as close to normal as possible. Several items must be addressed:

* Will hours of operation be able to remain unchanged?
* Will additional staff be necessary?
* Will overtime be approved?
* Should security be enhanced or changed in any manner?
* If there are changes made that will affect employees, suppliers, or customers, this must be communicated effectively.
* Will staff positions need to be altered?
* How long will changed remain in effect?

Once these decisions have been made, the information must be communicated to all members of management and to the employees. Communication is essential to keep all involved cooperating with the ultimate goal. Your policies should clearly include communications channels to everyone from upper management to general laborers. If the decision to continue business operations is made, management must expect some adjustments to be necessary. While the crisis management policy is crucial, any time modifications are made productivity will suffer to some extent. However, a good crisis management program will allow operation to proceed much more smoothly.

As changes occur to personnel and adjustments are made to operations, expect some glitches along the way. Changes do not always happen seamlessly. However preparedness will encourage a smoother transition. Patience during the transition will be necessary.

While it may seem that continuing business during a crisis is very stressful, careful consideration will allow you to realize that terminating all business operations will also create stress for businessownersArticle Submission, management and employees. Income stops and customers will be unable to obtain the necessary product or service in a shut down. This creates stress immediately and in the long run as operation resumes.