Posts Tagged business
Seven Ways to Increase Revenues
To grow any enterprise, you must continually seek ways to turbo charge it’s engine. You must develop strategies that will drive sales to ever-higher levels while ensuring that your growth in revenues translates into higher cash flow and profits. Essentially there are seven ways to increase revenues. Mastering any one of the seven will produce significant results. Success in all seven will lead to dramatic growth.
Make More Sales
The first and perhaps most obvious way to increase revenues is simply to make more sales. Of course, one of the best ways to accomplish this objective is by expanding your customer base. If you own a restaurant, how can you attract more patrons? If your business supplies parts to OEM’s, what strategy will allow you to sell to a greater number of manufacturers? If you run a print shop, what steps can you take to bring more customers in the door? What new strategies will allow you to attract more customers?
Sell More Often to Existing Customers
In addition to expanding your customer base, you can also make more sales by selling more often to the same customer. Customer acquisition costs can be enormous. Once you have developed a customer, look for ways to increase the number of times you sell to him in any given period. In addition to increasing your sales revenues, such sales will also be more profitable.
Posted by eBrand Media Research Department in Growing a Business on August 25th, 2010
eBrand Media Research Brief: Retailers increasingly invest in site optimization
By Tom Polanski, EVP, eBrand Media and eBrand Interactive
According to Internet Retailer’s recent monthly survey, retailers are creating interactive page treatments and adding video, customer reviews and other advanced features. Merchants also are making site optimization a top priority and redesigning their web sites to achieve speedier navigation and faster performance.
The survey finds retailers updating their web sites, with 49.9% of merchants having rolled out a new design in the past year, including:
– 26.6% in the last six months
– 13.3% within 90 days
Improved site optimization is the top priority for 72.9% of merchants, followed by:
– Clearly organized home, category and product pages at 62.4%
– Better navigation at 49.4%
– Improved site search at 47.1%
– Faster checkout at 40%
Posted by Tom Polanski in Website Optimization on May 4th, 2009
What is Chapter 11 bankruptcy? Patterns and consequences of clients under protection
By Tom Polanski, EVP, eBrand Media and eBrand Interactive
Unfortunately there are an increasing number of companies seeking Chapter 11 protection. If your client is exhibiting some of the symptoms below, be very, very aware. If you think your client fully fits the paradigm below, in my opinion, try to extricate yourself from the relationship as quickly as possible, and don’t rationalize:
* Your client expanded rapidly in 2006-2007
* Payments are late
* The phone is never answered
* E-mail aren’t replied to
* Voice mail isn’t responded to
* Partial payments made
* Promises that the check will be sent next week
* Increased number of complaints lodged with BBB, on forums, and in social media
* Promises of an upcoming infusion of capital
Some of the above are obvious but its interesting how a few of my peers convinced themselves that all would be well…until their client filed for Chapter 11 protection. I think Jeff Harbaugh does an extraordinary job here in detailing what a Chapter 11 is, and the consequences thereof:
“A Chapter 11 is a “reorganization” bankruptcy. That is, it is filed with the assumption that the filer will use the protection of the court to reorganize its finances so that it can continue as a going concern. That doesn’t always happen, but it’s the intention going in.
There are a number of schedules you have to file with the court when the bankruptcy occurs. These included assets and liabilities, income and costs, a schedule of existing contracts and some others. Typically, the owner of the business becomes the “debtor in possession” and is responsible for the continued management of the business and control of the associated assets. He is in a position of fiduciary responsibility with the same powers and obligations as if a Trustee had been appointed to manage the business. He’s required to file the monthly reports, can hire attorneys, accountants, appraisers or other professionals to help with the case, and file tax returns.
Posted by Tom Polanski in Growing a Business, Marketing, The Economy on March 25th, 2009
The eBrand Media Four P’s of Persuasion
By Brian Tracy
eBrand Media believes there are four “Ps” that will enhance your ability to persuade others in both your work and personal life. They are power, positioning, performance, and politeness. And they are all based on perception.
Develop Personal Power
The first “P” is power. The more power and influence that a person perceives that you have, whether real or not, the more likely it is that that person will be persuaded by you to do the things you want them to do. For example, if you appear to be a senior executive, or a wealthy person, people will be much more likely to help you and serve you than they would be if you were perceived to be a lower level employee.
Shape Their Thinking About You
The second “P” is positioning. This refers to the way that other people think about you and talk about you when you are not there. Your positioning in the mind and heart of other people largely determines how open they are to being influenced by you.
In everything you do involving other people, you are shaping and influencing their perceptions of you and your positioning in their minds. Think about how you could change the things you say and do so that people think about you in such a way that they are more open to your requests and to helping you achieve your goals.
Posted by Tom Polanski in Personal Growth on February 27th, 2009
Those who are the most disciplined experience the greatest freedom
By Tom Polanski, EVP, eBrand Media and eBrand Interactive
That seems paradoxical at first glance, doesn’t it? However the more you think about it, the more sense it’ll make. One example is exercise. Include some sort of physical activity into you day and studies indicate that there’s less chance of devastating illness, and that means, freedom from Doctors and Emergency Rooms. Another is meditation. I meditate everyday. This has resulted in a more focused, in the moment, and disciplined mind, which allows me to do my work in a more efficient manner with fewer mistakes and a lower level of frustration. That means I have remnant time and good cheer to apply elsewhere.
I could go on and on but I think you see what I mean. Go down your personal list, and I think you’ll find areas of your life where you could be more disciplined. Think it through, and you’ll identify benefits in improving your level of discipline in all areas.
I’ll bet there are quite a few “movers and shakers” in the financial industry who’re looking over their shoulders right now because they weren’t morally disciplined. Madoff is definitely not free.
In regards to your profession, Brian Tracey writes: Discipline yourself to do what you know you need to do to be the very best in your field. Perhaps the best definition of self discipline is this: “Self discipline is the ability to make yourself do what you should do when you should do it, whether you feel like it or not.”
It is easy to do something when you feel like it. It’s when you don’t feel like it and you force yourself to do it anyway that you move your life and career onto the fast track.
What decisions do you need to make today in order to start moving toward the top of your field? Whatever it is, either to get in or get out, make a decision today and then get started. This single act alone can change the whole direction of your life.
There is a powerful seven step formula that you can use to set and achieve your goals for the rest of your life. Every single successful person uses this formula or some variation of this formula to achieve vastly more than the average person. And so can you. Here it is:
Posted by Tom Polanski in Personal Growth on January 23rd, 2009