Archive for the ‘Management Tips’ Category
February 15th, 2010 | 
Author: Teams of people working together have the potential to deliver great results. At the same time, you are probably always looking for actions you can take to boost team performance. So what 5 actions could you take to boost team performance?
Action 1: Make the results clear
Your team will have been tasked with achieving something. The question is how clear have you made the results that you want them to deliver? For example, reviewing a process as a result is pretty vague. On the other hand, reviewing a process and recommending 5 ways to eliminate waste is much more tangible.
Action 2: Communicate well
A key foundation in any team is communication. You need to be able to get your messages across effectively, both verbally and in writing. Of equal importance is that you need to have effective listening within the team to maximise potential.
Action 3: Celebrate successes
A team will have an overall end point or result that it is trying to achieve. To achieve the end result, there will be a vast range of things to be achieved along the way. Sometimes teams fall into the trap of forgetting to celebrate the successes that they have achieved along the way. Remember to celebrate the successes along the way to achieving the end result.
Action 4: Leverage the team
The real value of teams is the diversity of skills, experience, expertise and attributes. On the other hand, this value is only worth anything if it is put to use. Make sure that you are putting the diverse qualities and skills of teams to work.
Action 5: Build trust
People work best and deliver better results when there are high levels of trust on the team. Building trust and getting people to the point where they know that they can rely on each other can make a huge difference. Remember that without trust nothing will be achieved.
Bottom line: Boosting team performance can be a win-win all round. So what action do you need to take to boost team performance?
Posted in Business Agreements, Business Brokers, Business Deal, Business Tips, Fast business, Management Ideas, Management Tips, New Business, Retail Business, Small business, Team building, business, business ideas, business management, foreign business, latest business tips | 
Tags: Team building | 
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I can only speak from a furniture stand point but my guess would be it’s not much different across most retail establishments. There are three types of furniture businesses out there; the Big Chain, Big Independent and the Small Independent.
The Big Chain guy has multiple stores in multiple states, they succeed on perceived image or perceived low pricing which in many cases is an illusion. Typically if they spend a dollar on a product they sell it anywhere from 1.85-2.20. They use suggested retail pricing to compare to which is three times the cost of the product, some times four times the cost, thus if a dollar is spent suggest retail price is as much as 4.00. The Big Chains effectively use special financing to their advantage offering up to two years without interest. Often the Big Chain uses their buying power to squeeze their suppliers into cutting off the smaller stores and big independents local to them so their customers can’t price shop. The best way they protect themselves from price shopping is they get their suppliers to make certain collections exclusive to only them. Normally if you see something priced in a Big Chain Store it’s a safe bet you can find it cheaper elsewhere.
The Big Independent guy typically has multiply stores in one state or his state and a bordering state. In many cases they operate much like the Big Chain, they have enough buying power to affect the smaller guys in their area, keeping them from carrying certain collections or certain suppliers. While most of the Big Independents have the same pricing structure as well as offer attractive financing, they will at times come down to make the sale so there are certain situations where you can wheel and deal and get a lower price from the Big Independent.
The Small Independent guy normally has one store, at times two maybe three locations but most of the time he operates out of one building. There are some small independents that use the same pricing structure as the first two examples but this retailer is normally your best chance to get the lowest price. He will start his pricing at the 1.85-2.20 and come down from there, sometimes this type of retailer isn’t the most trustworthy. Because of his size he doesn’t need as many procedures and policies to guide his employees so trust your instincts and guard yourself by using a credit card when dealing with them.
Posted in Big business, Business Agreements, Business Brokers, Business Deal, Business Intelligence, Business Tips, Fast business, Internation business, Management Ideas, Management Tips, New Business, Retail Business, Small business, business, business ideas, business management, foreign business, latest business tips |
Tags: Retail Business |
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Business brokers act as matchmakers in the world of business. They bring together small and medium-sized businesses. Small businesses have their own limitations owing to their limited presence in the market. Though most of the business brokerage firms help in selling all sizes of businesses, there are specialized business brokerage firms for selling small businesses also. Through their contacts with big corporations, they can get a good selling price for a small business.
For this they could charge a small fixed fee and then a commission. The commission is calculated with the sales price as the base. It is generally negotiable. Various surveys have indicated that as many as one-third of the business brokerage firms in the US fall into the small businesses category. The small business brokerage field can yield a lucrative income.
Even a sole proprietor in this business has an average income which runs into six figures. The smaller businesses can sell for around 200,000 dollars. That could mean revenue of around 10 to 15 thousand dollars from one single transaction, for a small business brokerage firm.
Many of the small business brokers operate in small towns and cities where big brokerage houses do not have branches. It only takes good networking, a small amount of capital and knowledge of the laws concerned to start this business.
You can take a franchisee of certain big business brokerage firms and start making matches in your hometown. The business has a low risk factor and can earn you good money. But remember: the margins are coming down increasingly, as competition is getting stiffer with the entry of several new businesses brokerage firms, which are keen to tap the small business sector also.
In the current Global Business paradigm outsourcing and purchasing from international vendors is the norm in Corporate America. Even small and medium sized businesses must be thinking here to trim costs, remain competitive and survive. With these truths unveiled perhaps I might be so bold as to recommend a very good book, on International Purchasing:
“International Purchasing Handbook” by James M. Ashley – 1998.
There are almost too many traps to consider in international purchasing. This book spends quite a bit of time explaining how global sourcing in the Pacific Rim, must be understood by international purchasing agents if they hope to succeed. Finding experts is paramount and understanding how these suppliers think is too and that is before you even get into language barriers, legal barriers, tariffs and getting payment to them or receiving payment. How to use brokers, clearing houses, freight forwarders and trading companies are clearly defined in this book with case studies, examples and warnings.
Importing on your won, there is a whole chapter on commercial invoice, certificates of insurance, certificates of origin and payments in accordance with importing rules and regulations. There is also a chapter on developing a sourcing plan, finding international sources and making international relationships; empathy, understanding, history, etiquette, friendliness, and how to win and dine. Sub-chapters on Singapore, Taiwan, Hong Kong and South Korea, with topics on Southeast Asia, Europe – both East and West. Some discussion on Middle East, Israel, and Latin America too.
Learn how to negotiate with foreign partners and suppliers. How to negotiate with various cultures and how to document tactics, all key to international purchasing and well defined in this work. The book is filled with contracts and things you need to know when contracting once you have negotiated terms, more importantly how to enforce these contracts and how to consider the costs in every single clause of the contract. There is a chapter on various laws in international business as well as trade quota issues and explanations of International Agreements and Associations:
- GATT
- WTO
- NAFTA
- ASEAN
- APEC
- AFTA
- ATPA
- OECD
- CCET
- CBERA
- CCET
- CBERA
- IBCC
Posted in Big business, Business Agreements, Business Deal, Business Intelligence, Business Tips, Fast business, Internation business, Management Ideas, Management Tips, New Business, Small business, business, business ideas, business management, foreign business, latest business tips |
Tags: International Business |
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