Posts Tagged ‘business world’

Why there is a need to shift business plans occasionally

Tuesday, January 27th, 2015

Flexibility is of pivotal importance to run a successful and competitive business. Although a thorough business plan is valuable, not everything can be planned. Changes in your business also changes your plans, whether financial or strategic.

 

Competitors, target group, the market and the financial world are difficult to assess, so you will find that not everything works out according to your thoughts when you first start out. Do not stick to your plans but constantly think about possibilities to improve, from your products to your business processes. Customer requests shall set precedence for change. This is why it is always necessary to adjust your product offerings based on profitability and customer demand.

 

Furthermore, your sales channels are likely to change. Even if you first focus on direct sales, you might eventually consider alternatives. Intermediaries, online shops, etc. the ways of distributions are manifold and help to capture new markets. In this way even small businesses, which former marketed locally, now have the chance to distribute nationwide, or even internationally.

 

This leads me to talk about international business. Exchange rates affect your business, but can hardly be calculated. Working internationally means often having to deal with several currencies. Supplies are purchased from one country, equipment from another and also a part of your sales are international. This has influence on your costs and revenues and naturally also affects your plans.

 

In addition, your marketing plan has to be adapted regularly, as marketing offers continually new capabilities. Your target group changes as well. Take into consideration to stay on top of your market. Adjust your budget accordingly and your business plan should only be a guideline.

 

The joining of a new partner also brings along changes. Targets may shift, new business and financial opportunities. As the business world constantly alters, so will your competitors. Innovative ideas and a larger set of competitors can bring on new challenges if you are not open to change.

 

Don’t know how to start? Get help from business plan writer. A business plan is useful and necessary to guide you. But in order to stay competitive in our fast moving world your business has to change and adapt constantly.

Reference: www.evergreenfunders.com.

 

December 2014 Newsletter

Monday, December 22nd, 2014

Dear Friends,

 

The year 2014 is slowly drawing to an end, so we want to take the chance to say thank you. Thank you for your trust and for giving us the possibility to help you to improve and succeed.

 

A new year is often viewed as a new start in business, as time for changes and improvement. The business world is fast moving, and so are business trends. That is why we regularly share our advice, tips and thoughts with you on our blog – for our clients, business friends and everyone who is interested in business, marketing and entrepreneurship.

 

The value of mentoring

The passing on of knowledge and supporting of the next generation is a valuable experience for the mentee as well as for the mentor. Mentoring – a way to give back to your community and a chance for your personal growth.
Read more…

 

Why the understanding of basic accounting is vital for running a successful business

An outstanding business idea is the foundation for your business; however it does not guarantee success. Being financially literate is just as important.
Read more…

 

Advice for newcomers

Considering entrepreneurship? Advice is helpful, but what is really crucial for your success? Why high expectations hinder rather than help, and why a lifelong learning is vital for your success.
Read more…

 

Help us make a better website, Reframe Marketing

A vision has taken shape. Our improved and more accessible website will soon be launched. For the final-touch we need now your feedback. What would you like to have improved? Suggestions and wishes are welcomed!
Just email them to info@reframemarketing.com
Read more…

 

Look forward to staying in touch!

 

How to effectively use social media to promote your business

Wednesday, December 17th, 2014

Social media has made its way into today’s business world. The majority of companies, no matter which size, use one or more social media sites for its marketing, but hardly anyone is exploiting all of its potential. To benefit from social media marketing you have to invest time and effort. Post and period is the wrong way to succeed. You have to act, by posting, following and answering questions. Shortly said – be active.

Present your company and create a lasting relationship with your customers. Social media gives you the possibility to contact your clients directly and provide unique customer service. Listen to what people say about your company or products, reply to questions or complaints and show that customer care matters in your company.

Moreover, a social media presence contributes to drive traffic to your website. Maybe you operate a corporate blog? Refer to it on your social media account. Or you are about to launch a new product or service? Arouse attention on Twitter or Facebook to get interested people to learn more about it. Keep clients up to date about upcoming events or industry related news on youtube. But with all these, keep in mind that your social media account is not just an advertising platform but foremost a communication tool. So keep your posts informative and interesting, avoid direct promotions.

Another benefit of being active in social media is the increase of your web presence. Today a single website is often not enough. To stay relevant for search engines and to get visibility a social media account is an important key to success.

To gain the highest benefit of social media, businesses have to stop seeing it as an advertising tool or as a possibility to attract leads, but as an opportunity to increase customer loyalty and to improve their image.

 

Advice for someone considering entrepreneurship

Friday, September 5th, 2014

Thinking about starting your own business? You might be facing a lot of well-meant advices, some more, some less helpful. Let us point out what you really should consider when starting an entrepreneurship.
 
First of all, be enthusiastic about what you do! If you are not convinced of your idea, why should someone else be? Don’t think too much about being different and more extraordinary than others, because rarely a business is. Do not condition the start of your business on economic situation; there will never be the right moment.
 
Do not mistaken to think the business world is waiting for you. In the beginning many new entrepreneurs have high expectations and start to give up when they don’t see immediate results. Give your enterprise time to establish and develop, and especially yourself the time to learn. Furthermore, be flexible and gather your customer’s feedback to improve upon things.
 
In addition, never stop learning. The business world is fast moving and changes constantly, you should be ready for this. Read business books and magazines, inform yourself about the industry and economy to keep up.
 
Furthermore, be aware that being an entrepreneur also has its down side. You will exchange a regular work week with a 60 – 70 hour week and a regular salary with possible times of insecure income. But even in difficult times remember the reasons why you started this business. It gives you the chance to work in the field you love and to develop. Think about what you have accomplished, about the rewarding times as an entrepreneur and learn to count failure as a chance to gain new experiences.
 
However, even with complete commitment to your business, do not forget your private life. Sure, as entrepreneur you have many responsibilities and think you have to be available 24/7, but nevertheless give yourself time to relax. Overexerting yourself does not benefit your business but leads to exhaustion, burnout and takes away the joy of work.
 
Lastly, meet up with like-minded persons or maybe even find a mentor. To have people with experience, who counsel and support you, can be extremely helpful. As entrepreneur you are not supposed to know everything and to have a solution for every problem. To accept help is not a sign of failure, but shows your readiness to learn.