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Tag: strategy

Directions in business strategy to maximize business growth

Directions in business strategy to maximize business growth

Business
Business growth rarely happens by accident or by osmosis. A growing business is usually the consequence of a business strategy successfully deployed in order to achieve that specific outcome. The highest rates of business growth can be achieved by combining four separate strategic directions into a well designed, consolidated, and highly focused effort to: acquire more new customers/clients, sell more products/services to the existing customer/client base, improve profit margins by raising prices and/or reducing the costs of supplying the products/services, and increase the existing retention rates of current customers/clients. Acquiring More New Customers/Clients The most commonly used strategy to promote business growth is to adopt a business strategy directed ...
Proven strategies to cope layoff

Proven strategies to cope layoff

Career
In the months, weeks, and days leading up to a "restructuring", the stress levels within the company escalate as rumors spread and tensions build. When the day finally arrives, many people are actually relieved to be laid off. If they are lucky, they receive a severance package that will give them some breathing space while they refocus and look for another job. They often qualify for employment insurance benefits, and they have the sympathy and support of their friends and family. After the initial period of shock, grief, sadness, and anger, most people recover from being laid off and move on to more satisfying employment opportunities. The Effects of Downsizing on Layoff Survivors But what about those they leave behind? Beyond the pep talk they receive on the day many of their ...
Small advertising agency business strategies

Small advertising agency business strategies

Advertising
Small advertising agencies had to reevaluate their business plans when the 2008-09 recession forced their clients to cut back on spending, reducing agency fee and commission income right in the middle of the industry’s digital and marketing revolution. Even for those that survived, there had to be lingering questions about how to weather future downturns in the economy. Should they diversify their services to maintain a balanced source of income? Should they specialize to become the best in their field, particularly one of the newer digital fields? Advertising Age Small Ad Agency of the Year Rockfish Interactive of Rogers, Arkansas had already been doing both well enough to be named the Advertising Age Magazine “Small Ad Agency of the Year." According to Ad Age, Rockfish took in ...
What to expect working at a start-up

What to expect working at a start-up

Business
In this struggling economy where one may be forced to accept a position with any size business, understanding the differences inherent in working at a start-up, small, or large company sets expectations and diminishes frustration. Size does matter. Start-up Companies Working for a start-up company is sexy and exciting, filled with endless possibilities. The path is new and uncluttered with corporate politics and muddied company history. For the newcomer, it’s a blank page waiting to be filled. Because it is unchartered territory, it’s also pretty scary. There are many questions to consider prior to signing on with a newly formed or young company. Before taking the great leap, it would be wise to consider a few of the following topics. Risk tolerance Risk tolerance is genera...