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Identifying your target market is something important for every small business. Mostly, we get into two types of target market – the Natural Market & the Niche Market. What does each of them mean to us?
The Natural Market – When I mention natural market, it means the prospects that surround you neighborhood, the people whom are meeting or calling them daily, your relations, etc.Yes! Pick up your telephone directory or mail list & start contacting each of them to tell them about your product or service. The benefit you gain here in the natural market is that it’s easy to get appointments as most of them are known to you. You get sufficient time to convince them about the value what you provide. You may also get a sale or more referrals by them.
The Niche Market – Let me now talk about the Niche market. After spending some time prospecting in the natural market, gradually you will come to know the proper age group or location or professionals who are in dire need of your product or service & are ready to buy too. Once this is known, you need to have a signature presentation ready for them, create customized brochure for the niche market & start pitching to them. This always cuts short the selling time & leads to quicker prospecting for getting leads.
Facing problems on how to find target market then get marketing advice
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Tuesday, October 18, 2011
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Each Company keeps trying to get business leads for their sales funnel that can soon turn into possible sale. Marketing tactics like strong lead generation machine that will always keep generating leads to your business.
Amplify your online existence via blogging – Make your product to be easily sighted in
GOOGLE and other search engines. This is a great and effortless manner to get sales leads. This takes place since most of the callers while searching online will come through blogs before going to your website. That is why you must link your blog article with the company site.
To advertise your business through blogs always remember to focus on writing about what customer needs.Do not chat more about the product rather speak what the product can do or work out a problem faced by customer. Keep the online readers connected in the blog so that they will click your website to know more about the product.
Business blogging needs the service of a
freelance blog writer who knows how to get traffic for your site after doing a competitive research for your business. The writer will make use of keywords in the article which readers commonly use while searching for your product online. The writer will also give a headline to the blog that will boost your ranking in search engines.
Blogging is a cost effective but powerful means used these days to get more business leads.If you have questions on benefits of blogging,
talk to us.
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Tuesday, September 6, 2011
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Having read a lot of those positive P’s and S’s in several articles & books, I wanted to mention something on those W’s.Yes! There are some negative W’s that creates a lot of damage for any start-up business. Being an entrepreneur, I too had faced the consequences on the same. Let me tell you about those 3 W's –
The 3 W’s are
Wrong Product, Wrong location, Wrong Person.
Well, there are seem different but the fact is they are interconnected to each other. Even if one is better and the other is worse you get the damage. Let us say, you have designed a good product but the market for buying the same is not there in the particular geographical location or else even if both are fine then the sales person promoting same is not confident enough to explain about the product.
Another instance where start-ups fail, can be that the organization might be having excellent sales persons but the product is not fine & when location is good then it’s getting tough to achieve sales. The market might be choosier on having the perfect product with no flaws.
I say that the 3 W’s should be converted into 3 P’s i.e.
Perfect Product, Perfect Location and the Perfect salesperson for the job. These three things are important for any start-up business to get successful.
Talk to us to know more.
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Saturday, July 30, 2011
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So,you finally decided to become an entrepreneur and you need advice on setting up a business.Practical advice for small business owners is readily available by from the business advice corner Shriyans at a small fraction of cost.
Their advice for growing businesses have helped several start-ups in successfully running their business.Whether you wish to know which business idea is the best or which market venture can be taken or need advice for company formation or need affordable marketing strategies to promote your product,just reach them for assistance.
It is one potential resource online that offers practical advice without paying much money.Today even the smallest business requires advice even on the smallest matters like designing professional business cards,creating a great business site,good online content that brands your product or service,tips on selling the product,etc.
We,help small businesses unlock their potential by assisting them in their early stages of development.
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Tuesday, January 18, 2011
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Cost effective marketing strategy has been the most sought out word among the small business community. All are looking ways to increase online sales as internet marketing has really proven very effective in recent days for getting business and brand visibility.
We can find ways of a low cost promotional strategy for your small business. After working with several clients who are either start-ups or have limited, our internet marketing strategies took a step ahead on creating an affordable low cost promotional strategy.
One SEO Optimized article can be created & the same posted in 3 article directories. Each article will have a back link to your site or blog which is always welcomed by Google. The next step will be creating a marketing ad that will used in Google ad word marketing strategy as well posting the same ad in few free classified sites. All these improve & increase search ranking of your site or blog in the next few months. Polishing web content & editing the same with updated content is also done time to time.
Keyword Research is one of things we keep in mind when aiming at getting higher search engine rankings and traffic for our site or blog. Keyword density should also be kept in mind while using the keywords in each page.
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Wednesday, July 21, 2010
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What is Business Process Management?
Business Process Management also called as
BPM is a practice of improving the effectiveness and efficiency of an organization mechanizing the business process. According to the business model, each company will have different Business processes. When the business reacts to market conditions, this process tends to advance over a period of time. The BPM you choose should be easily adaptable to any type of conditions and requirements and should be a perfect fit to the company.
What is the life cycle of BPM?
Business process management is having five stages and is grouped as- design, modeling, execution, monitoring, and optimization.
Design-
Process design involves of identifying the existing process and if necessary re-designing it. Perfect designing increases the lifetime of BPM and reduces the issues. The main areas includes- Standard Operating Procedures, representation of the process flow, Service Level Agreements, escalations and task hand-over mechanisms.
Modeling-
Modeling gives the theoretical design and brings up different variables. It also involvers in “What if Analysis”.
Execution-
The mentioned design and process has to be executed with the help of available resources.
Monitoring-
It includes tracking of individual processes so that the information can be easily seen and performance based statics can be easily provided.
Optimization-
Optimization involves getting performance information from modeling and monitoring phases, identifying the cost savings and again applying those in the design of the process. This overall process creates great business value to the organization.
Any more tips or advice needed then
consult us.
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What is Appointment setting?
Appointment Setting is one of the effective marketing tools. It is defined as setting-up a time, date to meet the prospective customer. A tel-caller or sales executive has to convenience over the phone and take an appointment to the client. It’s not so easy to convince a client. You need to have lots of skills and conversational manner. Sales people actually start the process from taking the
Appointment Setting.
Benefits of Appointment Setting:
Appointment Setting with MAN:
Here, you may be confused about
“MAN”, but it actually means
M-who is having
Money,
A- having complete
Authority,
N- having a
Need of the product. So, you are making appointment with a prospective client, so convincing him/her will be easy.
You can have a time for you:
You can fix an Appointment at a fixed time of your wish and you have to utilize your time carefully and get benefited at the end.
Targeting sales according to Need:
You have to gather minimum information from the prospective client, before attending the appointment. So, according to the customer’s requirement, you can pitch the product.
The process of
Appointment Setting has been effective from ages. However, with the change in time, you have to innovative think and set appointments with the prospective clients. This whole process should have a well-planned system or program to convenience clients and make them understand your product or service and beet the competitive edge.
Need any more tips of advice then
consult us .
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Tuesday, July 20, 2010
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What is Account Management?
Account Management is the process which involves from the selling of your product or service in an organization to proper managing all the
Accounts of your clients.
For instance, you have sold some telephone connections in an organization. Your job is not done after selling. You have to look in every client’s problems or issues and try to solve it as early as possible. You can do the other way by informing about the new products or services which fits to the customers.
Necessary Talents and skills:
One of the skills you need to have is to maintain good relationship with all the clients of the organization and provide them customer delight. You need to maintain large
Accounts effectively and be able to keep meticulous records.
Successful Account management:
The ingredients of successful
Account Management is to plan and structure a very well studied process to make sure that the representatives have good clarity on what tasks needs to be accomplished in every customer dealings and also ensure that this process will constantly create more profitable results.
At this time creative selling will be more effective as the science and art of
Account Management merge to exploit company’s bottom line.
Account Planning:
The aim of
Account Planning is for representative to manage the account’s decision making process so that the representative is continuously moving up in the relationship tree. An effective
Account Plan concentrates on building a long-run positioning in the account. This helps to continue the sales process even after the exit of the particular individual.
Here are some crucial steps in account planning:
1. Developing an account profile
2. Identifying the hunting person
3. Recognizing their needs and requirements
4. Deciding how to open each door
5. Build an action plan with different steps, metrics, resources, etc…
Don’t prolong the
Account Management than it needs to be. The major aim is to make the most of account penetration. Look different ways to sell every product or service to your existing business entity in the account. Use referrals and testimonials while finding new relationships. Be planned and organize it properly and have meticulous records with your efforts.
Any more advice needed then
consult us
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Saturday, July 17, 2010
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One of the major ingredients of marketing is to know about your competitors. Even you have been in the business since long time, you have to find out your competitors regularly and update your
competitor research.
You need to find out the similarities and differences between your product and their product, strengths and weaknesses of both the firms, difference in prices of the products and many more things. It also includes your plans to compete and the strategies that you use to beat the edge. Competitor analysis is an essential part of the corporate strategy.
Importance of Competitor Analysis-
1. Customer Awareness: Do consumers know about your product or service or are they more bothered about your competition?
2. Quality of the Product: How to stack up your product or service beside the competitor?
3. Availability of the Product or Service: Is your Product or Service easily available to the customers or your competitor’s?
4. Customer or Technical support: How well you are handling your customers than your competition?
These simple answers will provide some information and a basic analysis of competitors and with this you can formulate a marketing or business strategy.
Before starting your Competitor Analysis, you have to answer these questions-
1. You need to write a list of your competitors.
2. What are the objectives of your competitors?
3. SWOT analysis of your competitors
4. How will they respond to your marketing strategies?
Although this is a simple list, but you have to carefully dig and find out your competitors. These things must be done in an ethical way.
Shriyans Management Consultants P Ltd has been assisting many organizations in finding out their competitors and providing a report on the same.
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Friday, July 16, 2010
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Here are some tips for those who want to start their career as entrepreneurship. These can be helpful for starting and running a business or even selecting an organization to join. A good and successful idea is often found with shallow introspection rather than by having a look at external sources. If a creator is passionate about his venture and works on the idea, then his venture will surely become successful; in spite of markets highs or lows.
If you don’t love your work or job, it’s impossible to start a business and run it successfully. Building a business, setting targets and chasing them is not the final task, but creating a venture is about being able to do something on a permanent basis with complete involvement.
1. Build a product or service that you will pay to use or directly use it-
It is vital to start producing a product or a service that you can use for yourself or love to get involved in it; something that you keep on doing, even if it doesn’t bring more money at initial stages.
2. Build a ‘Back Bone’ Business model-
When you started to work on an area, it is important to think of its business model. This may not come right after your first attempt; it may also take some months or years. If you are starting a product or service, the people should be dependent on the product or service and use it.
3. Create an asset around your venture-
When you look for an expansion, the scale of assets in the financial papers will matter most. An investor or even a customer sees your financial assets in your annual report, but not your turnover. Every time look into your financial spending and cash flow patterns.
4. Start going with the wave-
No one can try going against the flow of nature and economic cycles. Keep on your eyes open to figure out an upscale market. Investigate on the spending patterns of the people around you, have an eye at the government’s budget and find out the primary agenda.
Every venture has its own life cycle of starting, growth, maturity and end phases of life cycle. These life cycles are directly influential on the spending structure of the government and the people.
5. Carry some magnets to attract masses-
Magnets are nothing but smart and successful people. It’s most important to invite smart people to your business. No matter how difficult is to bring the smart people, its worth of getting smart people to be a part of your organization.
Once they are in, you should use the skills and expertise and then make them focus on the agenda of your organization.
6. Build a culture, not just a product-
Human mind is an astonishing creator. Some minds may create and some minds may destroy. Trillion-dollar businesses like coffee, food, auto, software, aviation, real estate work on the principle of culture, but not the product.
These types of businesses dig deep into the human behavior and build a platform for intellectual exchange and socializing that has now become one of the parts of our daily life.
So, follow these simple, but most powerful tips to attain success in the business. Want any assistance in setting up a business then talk to our expertise in
Shriyans Management Consultants P Ltd .
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Thursday, July 15, 2010
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Many entrepreneurship magazines and books are filled with many successful Business ideas of entrepreneurs. They are rich as they had a great Business idea. These types of stories give a wrong perception about great ideas- where they come from and what they are?
Here are some facts about those Great Business Ideas:
1. They were generated out of nowhere- The great business idea creators tend to do in a structured way. They don’t wait for the bolt of lightning to hit, but idea generation is the top-priority activity in order to set periods of time.
2. Getting ideas isn’t a problem, but implementing them is a problem- This is a misconception of the people. However, the reality is that problem with implementation arise from not screening carefully enough the ideas that were generated. If this was done before, then a lot of frustration will be reduced and as ill-thought-out ideas will be screened before even implemented.
3.
There is no stupid idea- We know that all ideas will not work out and are bad. But there’s nothing wrong in that‼ Sometimes, the most powerful Business ideas come from what seemed to be illogical or stupid.
4.
We can generate all the ideas we’ll ever need if we sit down at a meeting- Having a meeting and discussing the business ideas and to feed off each others creativity and enthusiasm is a great thing. However, great ideas shouldn’t restrict to a meeting, but they should be shaped and through an ongoing dialogue.
Well these are some of misconceptions about ideas, which may become great business ideas. Now it’s your turn to discuss your thoughts and ideas that may one day become a big business idea for others. So, think deeply on your ideas by having a discussion with your friends or family or any others.
So, why not talk to our business consultants in
Shriyans Management Consultants P Ltd about your ideas and have a discussion on the same
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Tuesday, July 13, 2010
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Do you want to set up your own Business & become your own boss?
Then here is a small Business guide, which will assist you a solid start for your new venture. From naming your business to your firm, preparing the business plan, taxation advice, etc… As we know any start up venture will have some ups and downs at the initial stages. Success will never be guaranteed immediately. But, we will assist you in minimizing the trickier elements concerned in setting up of your Business.
Here are some steps on how to set up a new Business:
1. Go on research for your new venture. This is vital and you have to spend a lot of time and it should dig deep into the market and find out the chances for the existence of your Business. Investigate on your goals and financial aspects of your life.
2. Hire a lawyer to complete all the legal formalities and registration of your start up venture.
3. Evaluate the easiness for entry into your selected market and the size of the targeted market.
4. According to your funding ways, you can give a structure for your business: a sole proprietorship, limited partnership or a limited liability company or partnership. The structure concludes the taxation and liability factors.
5. Create a detailed business plan, which will include all the departments, fund-raising and many more things.
6. Get all the permits, local licenses and ID numbers. There will be different requirements and procedures for different businesses. Also, plan for all the health, environmental or safety issues, which may have an impact on your business.
7. Consult for patents, copyrights and trademarks if you have any innovative product.
8. Purchase the infrastructure and the necessary items like the systems, telephone connections, etc…
9. Divide all the departments differently and then recruit the employees for those particular departments. Hire people for their skills, attitude, energy and then qualification.
10. Begin working on the business plan with vision and mission statements. Don’t completely depend on the business plan. Make it flexible according to situations.
11. Develop a Marketing plan that depicts all the marketing strategies and the ways that we follow to attain the marketing objectives and goals.
12. Fix for the grand opening of the firm. Be prepared for immense commitment of time and energy.
Want assistance for Setting up a new Business or new venture? Contact
Shriyans Management Consultants P Ltd, a Team of professionals, who will assist you in Business planning, Marketing Plan, Licenses, Market research, Business consulting, marketing of your new product or service.
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What is Financial Management?
To have a positive cash flow in an organization or enterprise, Financial Management is required for the planning of the future. It also comprises of maintenance and administration of financial assets, identifying & managing risks, etc… The major concern for Financial Management is the evaluation rather than applying the techniques.
The main aim of Financial Management is to achieve various organization goals at a particular time. Financial Managers also control the monetary transactions put in by external investors. Financial Management makes the goals of the organization come true.
What is the work in Financial Management?
A financial manager looks at the available data and evaluates the organization position and then plans for the future accordingly. Some experts call Financial Management as money or monetary management. It’s even important to our existence as every aspect in our life goes with some sought of financials.
Process of Financial Management:
While speaking at the organization point of view, financial management is associated with financial control and financial planning. Financial planning goes with the available financial resources and then plans the size and timing of expenses, whereas financial control refers to observing of cash flow and managing the movement of budget in the organization.
Shriyans Management Consultants P Ltd has a
Team of Financial planners, who can guide you while investing in your existing business or start up venture. Contact them for more assistance.
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What is strategic Business Planning?
Strategic Business Planning is one of the ways to make out the long-term goals and to construct a route for the business to fulfill its objectives. One shouldn’t confuse with the business plan, which is a more substantial and detailed document. Strategic Business Planning is a step-by-step mapping to accomplish the stated vision and mission of the business or organization and to serve its customers efficiently, profitably and constantly. In other words, we can tell as a frame work for a business plan.
What is the use of strategic business planning?
For some business issues like product development strategies, market planning, etc… the strategic business planning acts as a systematic & management tool. A strategic business planning includes the present and future planning, company’s mission in terms of future expansion, strengths and weaknesses, future opportunities, and some threats that which may occur by competing business rivals.
Why do businesses need strategic business planning?
Small businesses need these strategic business plans as they found to compete with larger corporations in this highly competitive world. Due to the rapid increase in technology, the business management is becoming complex and for this purpose, the strategic business planning helps the business to foresee and quickly react to the market changes and can improve the areas that are lagging behind. For instance, we can’t say that the company is going well if it has good financial control. We can’t determine the future of the organization and the direction. Here, some measures have to be taken to evaluate and improve upon the controllable variables.
Here are some success factors for a business to achieve its vision and mission:
1. Should maintain quality standards of the product.
2. Continuous market research to fulfill your customer needs.
3. Attaining credibility
4. Cost-effective manufacturing of the products
5. Administrative and system policies which ensure that all employees do their jobs effectively.
6. Profitability of the business
Shriyans Management Consultants P Ltd has been providing strategic business planning for start ups and for small businesses. Contact them for more assistance.
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As a small business consulting group, Vizag Recruits have been globally committed to provide effective business consulting solutions that enable growth for its clients. It has the skills and expertise for serving various sectors coming under
Service Industries, FM CG, Education or IT.
Strategic Business Planning – A strategic business plan is developed by our team after identifying your current situation, competitors, market trends, advertising programs and budget. This will lead to business growth and expansion that is sustainable in the long run.
Financial Management – Our team of financial experts provide customized financial advisory services that will benefit your investments in the long run. Your Investments are given the personal attention and dedication with a sole aim to grow profitable.
Profitability Improvement – Every successful business always looking forward to improve & increase their profits. We provide strategies on how to power up those profits and position your company for higher growths every year. You will be happy to know that we have the best resources who are masters of increasing your company profits and making business grow faster.
Sales and Marketing – Whether it is setting up a marketing department or preparing a marketing kit or making an effective corporate presentation, our team will provide you the best solutions that will create brand awareness in the market. We can also create the marketing or sales structure along with defining the role of each team member. Speak to our
Experts about this.
India Entry Consulting –More and more foreign entities are interested to expand or setup their business in India. We provide end – to end services in taking strategic marketing decisions, exploring Indian markets, completing all legal formalities, Tie-up right vendors. So, expand confidently with having us as the consulting partner.
Import Export Opportunities – Import Export business is still the favorite one for many entrepreneurs with plenty of growth and profitability. A recent entry into segment by our team is exploring the role of being a consultant in taking care of all documentation involved here and access to new markets.
So, extend a hand to us and let us help you in meeting any of your business initiatives.
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How often we have cracked our heads when we are not getting sales inspite of several advertising done in the market? How often we have blamed our team for the failure of not getting business? How often our blood boils up when we see the ad expenses soaring high & higher?
Well all these years, working with several top notch companies as a Sales Professional I had learned the mistakes made by them and this has helped in proper market planning when the time came to market my company and its services.
The One simple formula I have learned is –
“Marketing should be done at the right time & to the right target with the right tools”. This really helps you in controlling costs & getting quality leads that have a better chance to become sale.
Most businesses either miss this point or may neglect this. They prefer to continue spending bags of money on advertising, shouting at their sales team and in the end blaming each other for the failures. This saga will continue until you seriously plan to do something differently.
With a proper market planning you can surely save those millions of rupees every year spent on advertising that yield no results. There are several cost-effective advertising techniques that help you reach the target market. You need to incorporate messages that are having compelling and interesting messages which may match the interest of your target customer.
I can go on saying more, but there is never an end to it.
Shriyans Management Consultants P Ltd is small business marketing experts who can guide you to successful marketing.
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What is a Business Proposal?
A written form of offers from a seller to the prospective buyer is a business proposal. In the complex sales process, business proposals are one of the main key steps whenever the buyer believes more than price in a purchase.
There are 3 categories of business proposals.
Formally solicited, informally solicited, Unsolicited-Solicited proposals are written forms in response to the published necessities which are being contained in a
Request for quotation (RFQ), Request for proposal (RFP) and for invitation for bids (IFB).
In a
RFQ, the customer wants to buy huge amount of a particular item. Here, he will not consider the price, but considers many other factors related to the product. Here, we should include the cost data, small descriptio ,n and the issues that the customer wants to know, such as quality control, etc…
In a
RFP, the seller will provide complete stipulations of what the customer wants to buy and some other options to evaluate the product. When the need is not satisfied by the product or service, then the customer prefers to have an RFP. They range from 10 pages to 100 pages without cost data.
When the customers want to buy a service such as construction, then they will have
IFB’s. Here, the primary consideration is the price and they also mention the other requirements. These proposals are lengthy and most of the length includes the cost estimation and schedules.
Sometimes the customer will issue a
Request for Information (RFI), before an RFP or RFQ or IFB. The main purpose of the RFI is to acquire marketing intellect about the products, services, and the vendors that are available in the market.
Informally solicited proposals are the written forms resulting from the conversations between a prospective customer and the vendor. This type of proposal is normally known as sole source proposal, as this is from a single vendor and doesn’t compete with other vendors. Here, there are no customers’ needs; just the information is gleaned from customers meetings. These proposals will be there from 2 to 25 pages. These are simply called as marketing brochures.
Want a business proposal written then take the help of
professional business writers.
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