Great Small Business Ideas to Start: Age-sensitive management Understanding the traits and desires of the different age groups present in the workplace will allow you to provide them with the incentives and motivation they truly value, improving overall corporate performance and morale. The idea Tesco, one of Britain’s most successful retailers, employs people of different … Read more
Great Small Business Ideas to Start: Direct selling Closely linked to the buyer’s cycle is the ability to sell direct to customers. Dell rose to be the best-selling computer supplier in the world by tailoring products to each individual need in a way that customers valued. Dell’s approach was very simple: understanding its customers and … Read more
Great Small Business Ideas to Start: The buyers cycle To understand how to influence someone or to sell an idea, it is essential to know how people buy. The buyer’s cycle provides a clear picture of the stages that need to be influenced to make a successful sale. The idea One of the factors behind … Read more
Great Small Business Ideas to Start: Rethinking the budget Is budgeting an indispensable, practical tool for effective management? Or is it a corporate ritual and hassle that far outweighs any benefit it provides? There is a third view: that it is useful, but only up to a point, and that by rethinking the budget a … Read more
Great Small Business Ideas to Start: Empowerment When employees at all levels of a company are empowered to make the decisions they feel are necessary, individual job satisfaction, corporate efficiency, and productivity soar. The idea Rosabeth Moss Kanter, Harvard Business School professor, argues that companies can improve performance by allowing employees to make decisions without … Read more
Great Small Business Ideas to Start: Branding The creation of a powerful and well-respected brand is the key to increasing market share and company value. Brands are key intangible resources that need to be carefully developed and maintained. Their features include reputation, trust, loyalty, and understanding among customers. The idea A brand is a design, … Read more
Great Small Business Ideas to Start: Precision marketing Decide who your ideal customers are—then decide where they go, what they do, and what they want. Use this information to target them precisely at key points in their everyday lives. The idea Precision marketing involves asking four questions—who, what, when, and how—to create a sharply effective … Read more
Great Small Business Ideas to Start: Managing by wandering about (MBWA) It sounds immensely trivial, but participating with employees and observing their day-to-day activities in a friendly manner can help you to discover and solve problems, gather knowledge, and form valuable relationships. The idea A personable and hands-on style of management, MBWA advocates walking around … Read more
Great Small Business Ideas to Start: Developing employee engagement Employee engagement is widely seen as being vital to improving business performance, effectiveness, and productivity. Researchers at Gallup identified several variables that, when satisfied, form the foundation of strong feelings of engagement The idea Business researchers at Gallup identified 12 questions measuring the effect of employee … Read more
Great Small Business Ideas to Start: Avoiding commoditization When a product becomes easily interchangeable with other products of the same type, it is said to become a “commodity.” The process of a previously differentiated and specialized product becoming interchangeable is known as commoditization. While it is believed to increase overall economic efficiency, it can be … Read more
