Why do I need a business plan?

It’s important to understand the basic purpose of a business plan before delving into the details. It is a document that helps you plan the business for the next few years and organise your thoughts. It provides the framework for decision-making, highlights long-term goals, and illustrates how they might be achieved. A business plan’s objectives are to:

• Determine whether the selected company idea is feasible by conducting a market analysis.
• Assess financial needs and expectations.
• Draw in possible lenders, investors, and collaborators.
• Plan your company’s growth, taking into account the operational, sales, and marketing procedures.
• Prepare for possible risks and know how to deal with them.

It is challenging to differentiate yourself from the competition and run your firm successfully without a thorough business strategy, particularly in the beginning.

Where do I start preparing for a business plan?

Creating a business plan is not an instant process. It requires gathering and analyzing information and understanding all aspects of the future business. To get started, decide on a few key questions:

Market research

Doing market research is one of the initial steps. You must determine whether there is a market for your goods or services. This requires you to:

• Evaluate your target market, including who your clients will be, how many people are interested in what you have to offer, and the trends in your industry.
• Examine your competitors to find out about their backgrounds, areas of strength and weakness, and pricing ranges.
• Evaluate the needs and wants of your audience in order to subsequently offer a truly in-demand product or service.

Defining business objectives

Following market research, goals must be established. This will assist with both planning business development and concentrating on the most crucial activities. First and foremost, you must comprehend:

• Goals for the short (one to two years) and long (three to five years) terms.
• What are your financial goals (e.g., profit, sales volume, revenue growth).
• What are your plans for scaling your business (e.g., entering new markets or launching new products).

Budgeting

The need for a financial plan goes beyond just attracting investors. A budget is an important element for your business. Forecasting future expenses and income will help you allocate resources correctly and avoid financial risks. It is important to calculate:

• Start-up costs – for starting the business, purchasing equipment, marketing, renting space, and other important cost items.
• Operating expenses – salaries, rent, taxes, and other ongoing expenses.
• Revenue forecast – determine how much money you need to make for the business to be profitable and how you will achieve this.

Structure of the business plan

The actual writing of the business plan can now begin as you have acquired the required data. Your paper should be clear, thorough, and logical. These are the primary sections of your business strategy that you should include.

Executive Summary

A synopsis of your company plan is called an executive summary. Given how frequently investors and other interested parties start learning about it, this portion is crucial. The executive summary ought to be clear, succinct, and educational. Add:

• A description of the business idea.
• The mission and goals of the business.
• The products or services you offer.
• Key financial needs and projected profits.
• A distinctive selling point (USP) that sets your company apart from its rivals.

Company Description

The purpose and values of your business should be explained in this area. A description of the company includes:

• the company’s legal structure (LLC, sole proprietorship, joint stock company).
• Products or services you will sell.
• A brief history of the company, if it already exists, or key points when starting it.
• Who is the owner, what are the main workers, what is their background, and what is their function in the company?

Products and Services

This is among the most crucial parts of any business plan. In this section, you describe your product or service in detail, highlight its distinctive features, and discuss how it can address issues or satisfy the demands of your target market. Add:

• An explanation of your goods or offerings.
• Your product’s advantages over competitors (e.g., price, quality, unique features).
• Pricing strategy and anticipated sales volumes.
• Plans for future product line expansion.

Market research and competitor analysis

You may demonstrate that you understand the market environment and know how to differentiate yourself from the competition by conducting market and competitor research. This area is where you should:

• Describe your target market, including the demographics of your potential clients (age, location, and income) and the number of people who would be interested in your offering.
• Examine your competition to find out who they are, what their advantages and disadvantages are, and what sets your company apart.
• Describe the strategies by which you will compete (e.g. innovation, marketing, service levels).

Marketing and sales strategy

Describe how you will attract customers and sell your products or services. Include:

• Sales channels: online store, retail, sales through partners.
• Promotion strategies: SEO, content marketing, advertising in social networks, participation in exhibitions.
• Plans for brand building and recognition.

Operating Plan

This section outlines how your business will operate on a day-to-day basis. Things to consider here are:

• Manufacturing processes – how you will produce the goods or provide the service.
• Logistics – how you will deliver goods or provide services to customers.
• Inventory management and supply chain.
• Employee organization – schedules, tasks, responsibilities.

Financial Plan

The financial section is the heart of a business plan. It is needed to show potential investors or lenders that your business is capable of making a profit. Include:

• 1-3 year revenue and expense projections.
• Balance sheet and profit and loss statement.
• Projected investment needs and sources of funding.

This section helps to show that you understand how your business will make money and what risks may arise.

Risks and a strategy for minimizing them

Every business faces risks. It is important not only to identify them, but also to develop strategies to minimize them. In this section you should:

• Specify possible risks (financial, market, operational).
• Describe ways to protect against these risks (insurance, diversification, preparation for crisis situations).

Conclusion

Although it could seem overwhelming, writing your first business plan is an essential first step in managing a profitable company. A well-written and organised business plan will help you better grasp your idea, market, and growth prospects in addition to helping you draw in investors. To stay current and adaptable to the difficulties of the industry, update your business strategy on a frequent basis.

Your business plan is not just a piece of paper, but an essential tool for a successful start and further development.

The post Your First Business Plan: Where to Start and What to Include appeared first on Arlington-Virginia-USA.

What is Limited Pay LI?

Limited Pay LI is a whole-life policy that lets you pay for a set time. Afterward, your coverage continues, but your payments don’t. The payment periods can vary – 10-20 years, or until a certain age – but the principle remains the same: lifelong coverage with a short payment timeline.

Why Choose Limited Pay LI in Arlington?

Arlington’s unique blend of history, culture, and economic vibrancy makes it an ideal setting for Limited Pay LI. The city’s high cost of living and affluent population can benefit from the policy’s strategic pros, including:

1. Planning: Arlingtonians can leverage Limited Pay LI to secure their future without the burden of lifelong payments, freeing up income for other investments or spending.
2. Legacy Protection: The policy’s lifelong cover ensures that loved ones receive a tax-free payout, making it an effective tool for estate planning and wealth transfer in Arlington’s affluent community.
3. Stability and Growth: The policy’s cash value portion grows in time, giving policyholders a cushion in Arlington in emergencies or retirement.

If you’re looking for an expert in limited pay life insurance for seniors, we recommend the experts at GetSure.org.

How Does Limited Pay LI Work?

Limited Pay LI operates like a traditional WL policy, with a few key differences. Policyholders pay for a set time, after which your LPLI is considered “paid-up,” and coverage continues for life. The policy’s savings grows, offering a financial resource that can be accessed during emergencies or retirement. The payout is paid to loved ones tax-free, making it a good option for estate planning in Arlington.

Who is Limited Pay LI Ideal For?

Limited Pay LI is ideal for Arlington residents who seek lifelong coverage with no burden of lifelong premiums. It is particularly well-suited for those who:

• Value Planning: Arlingtonians prioritizing planning and long-term security can benefit from the policy’s strategic advantages, including fixed payments and cash value growth.
• Seek Legacy Protection: Individuals in Arlington with substantial estates or intentions to leave a legacy can leverage Limited Pay LI for wealth transfer, with the payout going to your beneficiaries tax-free.
• Desire Stability and Growth: The policy’s CV component can grow , giving a financial cushion for policyholders in Arlington during emergencies or retirement.

Benefits for Arlington Residents

1. Planning Efficiency: This policy allows Arlingtonians to focus their income on other investments or retirement savings after completing the premiums, making it a smart choice.
2. Estate Planning and Wealth Transfer: For those in Arlington with substantial estates or intentions to leave a legacy, Limited Pay LI can be an effective tool for wealth transfer, with the payout being tax-free to beneficiaries.
3. Fixed Payments: The payments remain constant throughout the period, shielding policyholders from future financial instability and inflation.

How to Buy in Arlington, Virginia

1. Your Goals: Begin by setting your goals with what Limited Pay LI can offer. Contemplate how this fits into your long-term plan, especially considering Arlington’s cost of living and estate sizes.
2. Research Insurers: Dive into the insurance landscape in Arlington and Northern Virginia. Look for insurers with robust financial health, exceptional customer service ratings, and a strong presence in the local community.
3. Consult a Local Agent: Engaging with an agent who understands Arlington’s demographic and economic nuances can provide personalized insights and recommendations. They can take you through the application, policy decisinos, and any riders that could boost your coverage.
4. Evaluate the Future: Look at how your situation might evolve over the payment period. Limited Pay LI requires a commitment, so it’s crucial to project future income, plans, and potential obligations in Arlington or elsewhere.
5. Read the Fine Print: Before finalizing it, meticulously review the terms, conditions, and exclusions. Understanding the intricacies can prevent surprises in the future.

Things to Keep in Mind

• Cost vs. Benefit: Limited Pay LI generally entails higher annual payments vs traditional LI, given the shorter payment span. Weigh the cost against the benefit of freeing up future income and cash value (“CV”) growth.
• CV Growth: These typically gather CV in time, which can serve as an additional financial resource during retirement or in emergencies. However, tapping into this cash value could affect the death benefit.

FAQs

What is the difference between Limited Pay LI and traditional whole LI?

Limited Pay LI requires premiums for a set period, after which the policy is considered “paid-up,” and coverage continues for life. Traditional whole LI requires payments throughout the policyholder’s life.

Can I access the CV of my Limited Pay LI policy?

Yes, you can access the cash value of your LPLI policy through loans or withdrawals. However, doing so could reduce the death benefit and CV of the policy.

What happens if I stop paying premiums on my LPLI policy?

If you stop paying premiums, your Limited Pay LI may lapse, and you could lose coverage. To avoid this situation, you must know your policy’s terms and conditions.

Can I convert my existing WL policy to a LPLI policy?

Some insurers may offer the chance to exchange an existing WL policy for a Limited Pay LI policy. However, the terms and conditions of the conversion may vary, so it is a good idea to talk with your insurer or agent.

What are the tax implications of Limited Pay LI?

The payout goes to your loved ones tax-free. However, the policy’s cash value growth may be subject to taxation if accessed via loans or withdrawals. It is advisable to consult with a tax professional for personalized advice.

Can I customize my Limited Pay LI policy with riders?

You can enhance your LPLI policy with additional riders to enhance your coverage. Common riders include ADB, waiver of premium, and accidental DB.

What is the ideal payment period for LPLI ?

The ideal payment period for Limited Pay LI depends on your goals, budget, and timeline. Common payment periods range from 10 to 20 years or until a certain age, such as 65 or 70. It is essential to choose a payment period that aligns with your plan.

How can I determine the coverage amount for my LPLI policy?

The coverage for your Limited Pay LI policy should be based on your needs, goals, and obligations. When deciding coverage, consider factors such as income replacement, debt coverage, final expenses, and estate planning .

Conclusion

For Arlington residents, Limited Pay LI presents a chance to join finances with long-term security, wrapped in the promise of a paid-up policy after a defined period. In a city that prides itself on its rich history and vibrant future, such a financial vehicle lets people secure their legacies while enjoying the now. Given the strategic pros and cons, obtaining a LPLI policy in Arlington, Virginia, could mark a prudent milestone in one’s financial journey, allowing for a secure and wealthy future.

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The Importance of Employee Engagement

In today’s competitive business landscape, fostering a culture of employee engagement has become paramount for organizations aiming to thrive and sustain their growth. Engaged employees are not just happier; they are more productive, innovative, and loyal. This commitment directly translates into improved customer satisfaction and a healthier bottom line, making it clear why engagement is no longer optional but a core business strategy.

But what does employee engagement truly entail? It goes beyond mere satisfaction. Engaged employees are emotionally invested in and focused on creating value for their organizations. They don’t just work for a paycheck or the next promotion, but work on behalf of the organization’s goals, leading to powerful outcomes.

The Impact of Employee Engagement on Business Success

Employee engagement has a direct impact on various aspects of business success, including:

Employee engagement has a direct impact on various aspects of business success.

Engaged employees are more focused and motivated, leading to increased productivity and efficiency.

They are also more likely to contribute new ideas and approaches, driving innovation and creativity within the organization.

Additionally, engaged employees are more likely to deliver exceptional customer service, resulting in higher customer satisfaction and loyalty.

Furthermore, employee retention is improved as engaged employees are less likely to leave the organization, reducing turnover and associated costs.

Strategies to Boost Employee Engagement

Boosting employee engagement doesn’t happen by chance; it requires a deliberate approach tailored to your organization’s culture and goals. Here are some strategies to cultivate a more engaged workforce:

• Transparent Communication: Open and honest communication fosters trust and aligns employees with the company’s mission. Regularly share updates, goals, and challenges with your employees. Encourage two-way communication by providing opportunities for feedback and suggestions.
• Recognition and Reward: Regularly recognizing and rewarding employees’ efforts and achievements boosts morale and motivation. Implement a formal recognition program that acknowledges outstanding performance and contributions. Consider offering incentives, such as bonuses or employee of the month awards.
• Educational Opportunities: Providing learning and development opportunities shows investment in employees’ growth, leading to increased loyalty. Offer training programs, workshops, and seminars to enhance their skills and knowledge. Encourage employees to pursue professional certifications and provide financial support for further education.
• Creating a Sense of Purpose: Helping employees see the impact of their work on the company and its customers can enhance their sense of purpose and motivation. Clearly communicate the organization’s mission and how each employee contributes to its success. Share success stories and customer feedback to demonstrate the positive impact of their work.
• Flexible Work Arrangements: Offering flexible work arrangements, such as remote work or flexible hours, can improve work-life balance and increase employee satisfaction. Trust your employees to manage their time effectively and provide the necessary tools and technology to support remote work.
• Collaborative Environment: Foster a collaborative work environment where employees can collaborate, share ideas, and work together towards common goals. Encourage teamwork, cross-department collaboration, and provide opportunities for employees to participate in group projects or initiatives.
• Wellness Programs: Prioritize employee well-being by implementing wellness programs. Offer gym memberships, wellness challenges, mental health resources, and promote work-life balance. Show support for employees’ overall well-being, both inside and outside of the workplace.
• Career Development: Provide clear career paths and growth opportunities for employees. Offer mentorship programs, performance evaluations, and regular career discussions. Support employees in setting goals and provide the necessary resources for their professional development.
• Workplace Flexibility: Allow employees to have some control over their work environment. Provide comfortable workspaces, adjustable desks, and ergonomic equipment. Consider implementing policies that support work-life integration, such as parental leave, sabbaticals, or flexible scheduling.
• Employee Empowerment: Empower employees by delegating responsibilities, giving them autonomy, and involving them in decision-making processes. Encourage innovation and provide opportunities for employees to take ownership of projects or initiatives.

Measuring Employee Engagement

Measuring employee engagement is crucial to understanding the effectiveness of your engagement strategies and identifying areas for improvement. There are several common methods to gauge employee engagement.

One method is through employee surveys. Regular surveys can provide valuable insights into employee satisfaction, motivation, and areas for improvement.

Another method is tracking performance metrics. By monitoring metrics such as productivity, quality, and efficiency, you can identify changes in employee engagement.

Additionally, turnover rates can be an indicator of disengaged employees. High turnover rates may signal underlying issues that need to be addressed.

Building a Culture of Employee Engagement

Creating a culture of employee engagement requires a long-term commitment and a focus on continuous improvement. Here are some key steps to foster a culture of engagement:

1. Leadership Commitment: Leadership plays a critical role in setting the tone for employee engagement and modeling the desired behaviors.
2. Employee Involvement: Involving employees in decision-making processes and seeking their input can enhance their sense of ownership and commitment.
3. Feedback and Recognition: Providing regular feedback and recognition shows employees that their contributions are valued and appreciated.
4. Learning and Development: Offering opportunities for growth and development demonstrates a commitment to employees’ long-term success.

Conclusion

Implementing these strategies can transform your workplace into a hive of productivity and innovation. Remember, the journey towards high employee engagement is ongoing and evolves with your workforce. By placing your employees at the heart of your business strategy, you’re not just investing in their well-being; you’re unlocking the door to sustained business success.

The post Unlocking Business Success: The Role of Employee Engagement appeared first on Arlington-Virginia-USA.

1. Define The Right Target Market

The perfect target for your novel product or service is a relatively new and rapidly growing market. If you enter a more established market, you won’t survive unless you have an innovative product or service that stands out in the crowd, strategic price points, or excellent customer service.

It may require you to hire a research expert who can help gather important information to determine the right market for your business. Such information includes the characteristics of your competitors and the time it takes to develop your competitive product.

2. Get The Right People On The Bus

Your company’s crew must be skilled and mutually supportive. Make sure you only hire the best experts to help run your company. Choose those who have experience in their respective fields.

Also, remember that your external resources are part of your business too. In general, you will want to hire technicians, sales staff and managers, an accountant, an attorney, and marketing professionals.

3. Anticipate The Future

Keep long-term objectives in mind. Write down everything you need to account for in the short and medium term. This is especially important for a company that sees fast growth.

To handle such growth, check out near-future requirements such as buying or renting space, hardware, and supplies. In addition, outsourcing various operations may also be necessary to improve your business’ performance.

Other factors that must be considered are the increasing need for energy and resources, as well as financing, salaries, technology and raw materials. By carefully evaluating your growth potential, you will be able to set and achieve big goals with confidence.

4. Whip Your Financing Into Shape

New businesses are often built with the owner’s savings. To enable future expansion, however, you may want to get outside capital from private investors, venture capital firms, grant programs, or socio-economic funding agencies.

But before that, you should understand what investors expect from you. Only go for those external sources of finance when your business is ready to meet the expectations of investors.

5. Spend Your Time Wisely

It’s certain that your company will take time to become established, and you will encounter slow times during the early phase of your business growth. Take these periods as an opportunity to build your brand identity, which you can do through networking.

You can, for instance, participate in trade fairs, take part in a business plan competition for young entrepreneurs, or join a business community or professional organization.

6. Get The Technicalities Out Of The Way

In doing business, you need to comply with the rules so that your company can continue to run. It’s essential to choose the right legal structure for your business, build an accounting system, and comply with regulations on training, occupational safety and health, and employment standards.

You can start a business in your own name, whereas two or more people can establish a registered partnership or corporate entity with different terms and advantages. If your business includes multiple partners, you must create a shareholder agreement to define a common code of conduct.

Don’t forget to patent your works as well, or at least make sure they’re covered by a registered trademark, copyright, or trade secret.

7. Conduct A Competitive Analysis

To achieve success, don’t hesitate to learn from your competitors. They probably know how to do things right. You can emulate their business style to make more profit.

There are many ways you can analyze the competition. For example, if you own a cafe, you could stop by your competitor’s place for a cup of coffee, and then chat with other customers to find out what makes them love to be there.

But if your company is the type with little access to competitors, like a biopharmaceutical company, you will need to collaborate with a business expert and accountant to discuss not only what your rivals are selling, but also any financial details on them that may be available.

8. Organize Your Business

Keep your business organized so you can complete tasks effectively and efficiently. You can create a daily to-do list. Tick every task you have completed to ensure that nothing is forgotten in the end.

You can use software-as-a-service to improve organization. Options are many when it comes to this, including Zoom, Asana, Slack, Microsoft Teams, etc. But even a simple Excel spreadsheet can actually do the trick nicely.

9. Create An Effective Plan

Create a plan that is concise, focused, and accurately describes your business. You can revise the plan many times before it reaches the final version. Also, ask for the opinion of trusted experts or experienced entrepreneurs about your plan so that you can perfect it.

10. Be Consistent

Consistency plays a crucial role in business success. You have to keep doing what your customers love to make progress every day. With consistency as your positive habit, your business will be able to thrive in the long run.

The post Top 10 Tips for How to Start a Successful Business appeared first on Arlington-Virginia-USA.

1. Understand the Audience

Your audience may have different interests and needs. Therefore, you should analyze your target audience. Use an appropriate writing style that suits a certain audience. There are some aspects that you should consider, including the main objective of the message and the interest of the audience. You should convey the message using appropriate language and concepts. In addition, evaluate your relationship with the recipient to determine the best tone of the message. Some people may opt for a conversational tone, while others will allow you to use a formal tone.

2. Think Before you Write

Business writing requires a strategic plan. Thinking before you write will help you create effective business material. Determine the key points and relevant information that matches the document. There are four broad categories of business writing: informational, instructional, transactional, and persuasive. Instructional documents include user manuals and memos. The main objective of instructional writing is to instruct the recipient on how to complete a task. Transactional writing focuses on day-to-day communications, including invoices, official letters, and emails. Informational writing involves business reports, such as financial statements. Finally, the main objective of persuasive writing is to influence the decision of the audience. Examples of persuasive writing materials are press releases, sales pitches, and project proposals.

3. Focus on Accuracy

Based on research, accuracy is an important element of business writing. You should provide exact statistical data rather than opinions. Accurate data will boost your reputation; therefore, consider using statistics in persuasive communications. Avoiding hyperbole and opinions will establish your credibility. Your audience expects accurate information. Using statistics and relevant information will build trust.

4. Maintain Professionalism

You should communicate to your audience in a way that shows respect. Avoid unnecessary jokes because the recipient may misinterpret the message. You could access the professionalism of the business document by asking yourself whether you’d feel comfortable if it was made public.

5. Proofread

You should proofread the document before submitting it. Review the message for any spelling mistakes, grammatical mistakes, and other errors. A clear and polished document makes you appear credible and professional to your audience. You can use the help of online software to ensure you create an authentic document.

6. Avoid Using Jargon

Different industries use different terminologies. Some of these unique terms can confuse people outside the industry. The main objective of business writing is to ensure your audience understands the message. Therefore, when writing to an external audience, use familiar terms. If you can’t avoid jargon, ensure you explain the meaning of those terminologies.

7. Be Concise

In business writing, you should be precise and clear about your message. Currently, people have busy schedules; therefore, you must be concise in both the language and the structure/style of the business document. You should replace complex phrases or words with shorter, plainer language. In addition, you should remove irrelevant details and unnecessary adverbs or adjectives.

8. Review and Correct the Format

There are numerous styles of writing business documents. Each style has its unique components. Below are some elements that’ll help you design a professional business document:

– Short paragraphs

– Bullet and number lists

– Appropriate use of emphatic and bold text

– Heading above various document categories

9. Ask for Feedback

Asking for feedback will help you enhance your business writing skills. You can seek help from editors, professional writers, and trustworthy colleagues. These experts will provide insights that’ll boost the professionalism of the business document. In addition, you should evaluate your strengths and weaknesses.

Conclusion

There are numerous benefits of excellent business writing: it demonstrates your intelligence, ensures effective business communication, conveys courtesy, and portrays your credibility. The above-listed tips will help you enhance your business writing abilities.

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When talking on the phone, there is no way to trace the client’s non-verbal reactions and see his facial expressions, and not everyone likes this method of communication. So stick to the following techniques when communicating with the client:

If you can not call, it is better not to call. Instead, send a confirmation of your order by e-mail or text, and leave the calls for urgent questions.
If you can’t do without a call – ask at the beginning of the conversation if it’s convenient for the client to listen to you now. Before that, do not forget to introduce yourself and explain the purpose of your call.
Call only during business hours. If the client is from out of town, check their time zone. You may be at lunchtime, and it may be nighttime for him.
In an online chat or messenger you cannot see the client, smile at him, and make him feel comfortable with a polite intonation. Instead, you need to be able to make contact through written messages. There are basic rules for communicating with customers online:

If you want to address by name, make sure you spell it correctly first.
Spell it competently. If you’re not sure of the spelling of a word, you’d better double-check online. You can write in simple sentences so you don’t have to worry about punctuation.
If you’re going to write first, do it during office hours. But be ready to communicate with the client in the evening, and early in the morning, if it’s convenient for him.
Try to answer messages within a few minutes. Communicating with customers in chat implies a quick response, they should not wait several hours for a reply.
Write all the information in one message at the beginning of the dialogue: say hello, introduce yourself, tell them what you’re writing about. Make sure the customer does not receive multiple notifications in a row.
Communication rules for all cases
These rules can help you communicate appropriately with clients in all situations-even when you’re in a bad mood or your client isn’t very pleasant. And they work for every method of communication – in person, on the phone, and online.

Be polite to everyone.Say hello to the client, offer help if you see that he can’t decide on a choice, thank him for his purchase and say goodbye. This rule applies to all visitors, even if they got to you by mistake, bought the cheapest product or came in a bad mood.

Don’t keep customers waiting. Put all extraneous business aside and take your phone out of your hands when a guest comes to you. Because he doesn’t want to wait for you to finish doing your personal business.

If you have a really important call or other urgent matter – warn the client, apologize, ask if he can wait. The client will decide if they’re ready to spend a few minutes waiting.

If he asks about a service or product, start with a general description and characteristics of the product. Ask leading questions to see how well the person understands the topic. If you start using complicated terms and talking about features the customer doesn’t know, he or she may get confused and postpone the decision to buy.

Be honest. Find out right away what problem the person wants to solve with your product and offer a solution. Do not speak in advertising slogans – it’s better to tell the customer about the product or service in terms of benefits and results that he can get. It’s worth talking about the disadvantages of the product if it’s not going to work for the customer.

Don’t be pushy. People don’t like to be followed on their heels, telling them about good deals and really want to sell something. It’s better to ask first if they need help, tell them about promotions, and see if the client is interested. If you do persuade the person to make an unnecessary purchase, the next time he will not come to you.

Give the customer time to look around and explore the range. Because of the annoyance of the seller he will not be able to relax and focus on his choice – so he will leave without buying.

The main thing .
When dealing with your customer in any way, speak to him in the same language, be polite but not intrusive, don’t keep him waiting, and tell him everything honestly.

2. When talking on the phone, be clear and to the point, don’t forget to tell the purpose of the call and clarify whether it is convenient for the client to speak now.
3. When communicating online, double-check that you spelled the person’s name correctly, respond quickly and during business hours, write all information in one message, and don’t overdo it with emoticons.

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In economic terms, it is an intangible asset associated with the concepts: trademark, copyright, license. Competent management of the brand image and its reputation creates the right impression, increases recognition and eliminates the negative aspects about the company. The assessment starts from the day the business is opened and is equally applicable to individuals and legal entities.

Different indicators are used for evaluation. A qualitative indicator is calculated with the help of ratings made by experts or sociological questionnaires. Quantitative – using the method of excess profits or the volume of products sold.

The complex image is formed from different parameters. The indicator “business reputation” can be divided into two types:

Positive. Trustworthy attitude towards the brand. The company has clear competitive advantages associated with profits, capital, skills of employees, position in the market.
Negative. The organization is not economically stable. There is no loyal audience, the quality of goods does not meet the expectations of consumers.
To improve the result, it is recommended to engage in PR, reputation management on the Internet, media. Business with a positive image allows you to attract customers, increase the effectiveness of marketing campaigns, and increase the overall value of goods or services.

Why should the parameter be evaluated?
A positive image about a company is gathered based on the following factors:

• loyal customers;
• The quality of goods or services;
• competent marketing strategy;
• presence of partners;
• experience of the manager.

Business reputation determines the degree of responsibility of the company. The metric must be continuously worked on, improved and protected so that the business can withstand economic difficulties.

The characteristic depends on the actions of the entity or individual, as well as external events and circumstances. Creating a “good name” is an important value of a competent manager. By working on more than just financial performance, the organization builds a positive image, generates third-party trust, and occupies one of the TOP positions in the marketplace.

The post The company’s business reputation appeared first on Arlington-Virginia-USA.

Like any project, the goal of internal automation is to improve business operations. Unfortunately, my experience as a business analyst tells me that this is not always achieved. At least from the first iteration. Let’s explore what causes internal automation projects to fail and how to avoid them.

Reasons why internal automation projects fail
Lack of planning and poor preparation

The planning and preparation phase is very important for any project. In fact, it is its foundation which determines to what extent all further work will be stable and in accordance with business requirements. However, in an effort to move as quickly as possible directly to the implementation, planning is often neglected. And this leads to problems such as:

Unconvincing reasons for making a decision about automation

It seems absurd, but it’s true. With automation being expensive, management makes the decision based on their “want” or “because others have done it, why are we worse?!” And it’s not just young companies that suffer from this.

Here’s an example from my own practice.

I worked at a very large company, whose management decided that we needed to make our own messenger for internal communications. They did not like the fact that employees were using different communicators, so they tried to get everyone into one, which failed, and decided that a corporate messenger would remedy the situation.

In other words, the employees did not want to use the same messenger service for sending messages and making video calls, so let’s try to make something similar, and then they will use it. Of course, we were flattered to compete with Telegram, Skype, and WhatsApp, but it was just unclear why? And it would have been very expensive to finance such a project. In fact, this is what saved us from a pointless job. But not everyone is so lucky.

“Blurred” and unrealistic goals

A project without a goal is a waste of time and money. I think few people would disagree with that. But what counts as a goal? When we talk about automation projects, the goal should be to add some value. But not abstract, but quite measurable. Because it makes no sense to talk about efficiency if it is not supported by measurable quantitative and qualitative indicators. Yes, this is about KPIs. And in the future, when the project is implemented, it will be on the basis of KPIs that it will be possible to assess the degree to which the goals have been reached and the effectiveness of the project as a whole.

Ignoring or neglecting risks

No business exists in isolation, it is always affected by factors of external and internal environment. This impact can have both positive and negative effects.

The probability that these or those factors will entail the occurrence of negative events – these are the risks.

Usually everyone is well aware that anything can happen, but few people take a systematic approach to risks: they forecast, assess the probability of their occurrence and the degree of their impact on the business, and, most importantly, prepare scenarios for the development of events in case they occur.

It is always a great practice for businesses to do such exercises. But it is equally important to forecast and assess risks for specific projects. After all, in this case, the project will be insured against many unpleasant surprises that can affect its outcome not for the better. And the effect of their occurrence can be leveled.

Lack of resources and unrealistic deadlines

Let’s start with what are resources in terms of the project? First of all, it is a budget, of course.

The specialists, the people who will implement the project. And time.

Practice shows that projects often suffer from a lack of resources. I have seen some projects stopped for lack of budget. Then they were restarted. But it is not so easy to just pick up and continue the automation project after downtime – you need to assess what changes have occurred in the meantime, adjust plans and re-engage in the process.

Another common problem: in order to save the budget, they try to do with a minimum number of specialists. I once worked on a project where almost every team member combined several roles that were not his own. Of course, because of this the quality suffered. But in time to attract specialized professionals, alas, we were not allowed.

In addition to reducing the budget of the project, they often try to minimize the time. But to make a certain amount of work faster and cheaper is only possible within a limited scope. If you try not to pay attention to it, the quality will inevitably suffer.

Therefore, resource planning is a very important stage of project preparation. And it should be approached with all objectivity and seriousness.

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