To Stay in Business, You Must Stay Relevant

Entrepreneurs and small business owners need to be relevant in order to stay competitive in the marketplace.

When small business owners and entrepreneurs are asked, "What do you want to be in your business?" answers range from being liked, being loved, being important, being the best, being reliable, being ethical, being honest, the list is long. Being rich is often mentioned but is surprisingly down on the list.

What we really need to do to achieve our goals is to be relevant; closely connected, and appropriate to the matter at hand. Focus on what matters most. Don't try to be all things to all people. Serve a clearly defined target market, and serve it well.

Are you relevant? Is your business the right kind of business for the time, for the marketplace? Is your product or service of value to the rest of us. Can we identify with what you're saying, with what you're selling. The old way of doing business may be gone forever. This viewpoint is both fearful and motivational at the same time, Diametrically opposite that viewpoint is that many hugely successful new ideas come about in a stressed marketplace and/or down economy.

Being relevant is not just about having the latest and greatest. Relevancy is what we are now, a.) a large collective (a cooperative enterprise.) such as a society or nation and b.) a small collective such as our circle of personal and business contacts. Recognizing this allows us to decide whether Offering the latest and greatest new ideas may or may not be the right choice, when perhaps the group you are trying to reach and relate to is looking for a product or idea that is tried and true, full of old-fashioned value and comfort.

Relevancy is how we develop strong business relationships; relationships based on relevant feelings, real-time opinions, and solid business practices. Ask yourself "Am I making sense, am I giving and receiving benefit from what I'm saying and practicing?

By being mutually relevant with our business networks and relationships, we can extend our trust to a higher level and a bigger collective, and fear less about unexpected changes in relationships and subsequently in our business dealings. Out of this relevant thinking may emerge that "next big idea" we all look for.

Geography plays a role in relevancy. What is of importance to one part of a nation may not be pertinent or important to another part of the same country, much less from one country to the next. Relevance is considered based on needs, wants and desires of the populace at hand.

Do you want your business to prosper, and to stay prosperous during an up economy or a down economy? Do you want to be there when the next big idea comes along?

Be real, be relevant, and pay attention! 

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BEST WAY FOR MONEY MAKING IDEA

 

BEST WAY FOR MONEY MAKING IDEA

These days, more and more people are becoming interested in the idea of owning their own businesses and working for no one else except themselves. Of course, having your own business would provide you with plenty of flexibility in terms of time as well as your finances. However, getting started is not as easy as one would think. After all, there are many different things to consider. First off, you have time constraints. If you're a mom and need to take care of kids, you would want a money making idea that wouldn't eat up too much of your free time.

If you're still working and intend to start your business as something on the side, you would need one that would mesh perfectly with your current schedule as well as something that will not add further stress. Still out of ideas? Well, to help you get started, here's a quick rundown of the best money making ideas currently available.

1. Freelance - Yes, freelancing isn't exactly the first thing that enters your thoughts when you think about businesses but in today's world with all the technology available, you can easily make a significant amount of money through it. If you're good at designing websites, writing articles, creating digital art and so on, you could easily find jobs online since there are a lot of companies currently outsourcing work to freelancers such as yourself.

2. eBay - Millions of people visit this website every single day. So if you look at it, that's about a million people potentially looking for something that you might be selling. That alone makes it a great money making idea to try. You don't have to begin big, of course. You can start by selling small arts and crafts products that you have created. Want a smaller more nurturing community of sellers? Etsy is another great option to try.

3. Affiliate Marketing - If you're really business savvy and have great online marketing skills then it would be wise to turn your attention to affiliate marketing as it is considered by many to be one of the best money making ideas currently available out there. Yes, it would require quite a bit of time and energy whilst you're still in the learning stages but once you have everything down, it would be relatively smooth sailing from then on.

4. E-Books - Do you have information to share? Do you think people would be interested in it? If you answered "yes" to both questions then you ought to consider writing an e-book. E-book's are a hot sell these days especially if yours contains relevant information that plenty of other people could use. Just make sure that you research everything well and that you only provide them with facts. If you are presenting new ideas or suggesting new processes, make sure that you test them to see if they actually work. You wouldn't want to tarnish your reputation if you intend to publish more e-books.

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5 CORE PRINCIPLES OF SUCCESSFUL PROMOTIONAL PRODUCTS MARKETERS

There are people who just get it and people who just won't. But in promotion, if you haven't nailed it yet, here are five most important values promotional products marketers adhere to. To be ahead of the pack like them, you might want to commit to these principles as well.

The customer is always right.

As cliché as it sounds, this old adage never ceases to be applicable and effective in the advertising industry. No company can be successful without the help of their prospects. After all these people are the ones who buy and influence other people to buy your products and services. Therefore, companies ought to always follow what they want. But of course, there should always be a balance of expressing who you are as a brand and giving what your target market demand. Experience should be enough to teach you how to find the so to speak, "golden mean."

Say less, do more.

Marketing is about communicating a message. But, contrary to what many people believe, communication is not done only through words, but also through pictures and other things. So, when you plan a design, always keep it simple. Don't stuff too many words on the promotional products. Try to talk to your target market visually-through colors and lines. If you're going to use words, be a minimalist. One word can do. Even a carefully selected image can lead you to a home run. As they say, a picture says a thousand words.

Cheap doesn't always mean "go buy it".

America's dwindling economy has turned each one of us to low-cost buyers, which is not bad. It's just that there are times that we are able to save more, if we will choose the more expensive item. Cheap items usually (but not all the time) are made from low-quality materials and therefore normally expires after a month or two. So, you have to change it regularly. On the contrary, expensive stuff last for years so there's no need to spend again for another one in the near future after purchase. When you think about it, you save more if you will choose to buy the former rather than the latter. Same principle applies to business promo items. However, if you are hardworking and resourceful enough, you can definitely find an advertising merchandise supplier that can offer you both cheap price and high-quality.

Planning is winning.

If you go to a battle without any strategy which you made beforehand, chances are, you are going to lose. Planning is winning half the battle. Preparation gives you form, spirit, organization and inspiration. If you don't have it, most probably, everything will be a mess.

No man is an island.

You need a team to execute your plan. If you don't have one, then most probably, you'll fail or will fail to beat the deadline, as there are so many components in using promotional products for a promotion. And accomplishing all of that requires a lot of hands at work.

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MANAGING A BUSINESS FOR COMPETITIVE ADVANTAGE

COMPETITIVE ADVANTAGE:

Competitive advantage theory suggests that states and businesses should pursue policies that create high-quality goods to sell at high prices in the market. Competitive advantage rests on the notion that cheap labor is ubiquitous and natural resources are not necessary for a good economy. Competitive advantage attempts to correct for this issue by stressing maximizing scale economies in goods services that garner premium prices.

WHEN IT OCCURS:

Competitive advantage occurs when an organization acquires or develops an attribute or combination of attributes that allows it to outperform its competitors. These attributes can include access to natural resources, such as high grade ores or inexpensive power, or access to highly trained and skilled personnel human resources. New technologies such as robotics and information technology either to be included as a part of the product, or to assist making it.

ROLE OF INFORMATION TECHNOLOGY:

Information technology has become such a prominent part of the modern business world that it can also contribute to competitive advantage by outperforming competitors with regard to internet presence. From the very beginning, i.e. Adam Smith's Wealth of Nations, the central problem of information transmittal, leading to the rise of middle-men in the marketplace, has been a significant impediment in gaining competitive advantage. By using the internet as the middle-man, the purveyor of information to the final consumer, businesses can gain a competitive advantage through creation of an effective website, which in the past required extensive effort finding the right middle-man and cultivating the relationship.

PROCESS OF COMPETITIVE ADVANTAGE:

The term competitive advantage is the ability gained through attributes and resources to perform at a higher level than others in the same industry or market The study of such advantage has attracted profound research interest due to contemporary issues regarding superior performance levels of firms in the present competitive market conditions. "A firm is said to have a competitive advantage when it is implementing a value creating strategy not simultaneously being implemented by any current or potential player" Successfully implemented strategies will lift a firm to superior performance by facilitating the firm with competitive advantage to outperform current or potential players. To gain competitive advantage a business strategy of a firm manipulates the various resources over which it has direct control and these resources have the ability to generate competitive advantage. Superior performance outcomes and superiority in production resources reflects competitive advantage.

WHEN COMPETITIVE ADVANTAGE  LEADS TO LEADERSHIP:

Above writings signify competitive advantage as the ability to stay ahead of present or potential competition, thus superior performance reached through competitive advantage will ensure market leadership. Also it provides the understanding that resources held by a firm and the business strategy will have a profound impact on generating competitive advantage. Business strategy as the tool that manipulates the resources and create competitive advantage, hence, viable business strategy may not be adequate unless it possess control over unique resources that has the ability to create such a unique advantage.

CONCLUSIONS:

Summarizing the view points, competitive advantage is a key determinant of superior performance and it will ensure survival and prominent placing in the market. Superior performance being the ultimate desired goal of a firm, competitive advantage becomes the foundation highlighting the significant importance to develop same.

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