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How to Market Your Business to Millennials

6/28/2018

1 Comment

 
by Samuel Gitukui

​Millennials are a group of young people between 18 years and 34 years. They hold a significant section of the client market of any business. However, this is a group that is also diverse. In the US alone, up to 43% are a different race other than white and a quarter of them speak a second language other than English.

As much as millennials are diverse they do come with some similarities. Understanding them is the first step towards knowing how to market your products. Second, you can also perform niche marketing to target different segments of the millennial market. Let’s find out how.

       1.      Mobile Marketing

It’s nothing new that marketing through mobile phones is essential in the modern business world. More than 90% of millennials are always using their smart phones. This places further emphasis on the need to do mobile marketing.

Factors such as call to action, fast loading times and good graphics need to be taken into account. You can add advertisements and links to mobile applications. This is an excellent way to reach a group of people who spend a lot of their time on their mobile devices.

       2.      Adapt to Their Way of Thinking

Millennials are a generation that question the traditional way of thinking and doing things. Concepts such as family and community tend to be looked at from a different perspective. 

Considering the current economic situation, millennials also have a challenge with things like buying a home. For some, however this is not even a priority. They are set towards a traveling lifestyle where business is also carried out on the go.

Marketers need to adjust their habits accordingly if they want to reach out to millennials. A good example is instead of going after a group of people based on their stage in life, you can do so based on social groups. These are groups that focus on social factors which in turn creates a greater attachment for them.

       3.      Go Online

Most millennials have spent their entire lives with the internet. This means that it is far tougher to convince them in a face to face conversation. To be able to reach them more effectively, you need to employ online based marketing which is in fact an extension of mobile marketing.

Remember you are dealing with a group that focuses on solving their issues their own way by finding solutions online.

You need to place emphasis on becoming even more engaging. Why? Because millennials value the opinions of friends. What this means is that if you are able to engage a group of people and make them loyal, they will go ahead and refer their customers.

If you cannot find a way to be relevant and engaging, this group of people are very likely to ignore your presence and associate it as just another source of noise which is often the result of a global interconnected system with too much information at any one time.
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How to Handle Failure and Stress in Business

6/28/2018

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by Samuel Gitukui

What separates successful entrepreneurs from the rest is their ability to bounce back from failure. Have no doubt about it! Everybody fails at something every once in a while. When it comes to business this can be a major setback or a chance to bounce back even stronger than before.

Let’s consider a few tips to handle failure and how to step back in the game without losing your motivation.

       1.      Mourn

This might seem like the last thing a strong-willed entrepreneur needs to do but those feelings of disappointment are every real. You want to take the time to embrace this period. Like everything else, it will pass and only then will you move on.

However, as much as you need to mourn, you also have to make sure that it doesn’t continue for too long. Otherwise you will be spending too much of your energy wallowing on things past.

Give yourself a recovery period. Whether its 48 hours or one week, once this time lapses, get back in the game, find out where you went wrong and get better ways of doing things differently.

       2.      Replay the Scenario

Once you are ready to bounce back, it’s time to analyze what happened. A point to note is that you need to avoid being biased and be willing to acknowledge that you indeed made mistakes. This can be daunting. However, it is the first step towards making the right changes.

Having someone else look at the situation will give you another unbiased opinion. Once you find out that you actually did things wrong and there was a better way to handle the situation, you can make the necessary adjustments for your next move.

       3.      Take Responsibility and Forgive Yourself

For some people, getting over a hard situation takes longer than it actually has to because they still haven’t forgiven themselves for the blunder. Instead, they blame themselves which puts them further into mourning.

Once you have forgiven yourself, you can find the courage to try again.

       4.      Do What Makes You Happy

The feelings that follow failure and disappointment are negative and will do little to help you recover. In order to ward off these negative feelings you have to replace them with positivity.

The best way to do this is to engage in an activity that you like. Gradually as you begin to feel joy, you will find that things take a positive turn.

Failure is a part of life. When it occurs too frequently however, it may bring down your motivation and drive to an all-time low. If you want to achieve success, the possibility that things may not go as expected is a reality you will have to face and confront. 

Knowing how to handle failure and stress means that you have a solution in case things go awry. You will be able to get back up on your feet and try again. In this way, you will see your business thrive.
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Buzzing Blockchain Words You Will Encounter in the Wild

6/25/2018

3 Comments

 
by Summer Worsley

It’s official: buzzwords from cryptocurrency and the tech that drives it have been included in our dictionaries. These “new” words have made the leap from post-work conversations over drinks and water cooler chats to codification in our bastions of language.

2018 saw the Merriam-Webster dictionary adding words and phrases such as blockchain and crypto to their pages.

Of course, the job of dictionaries is to describe language that people actually use. If enough people are using certain words then dictionaries codify them as lexical items in their own right.
As Merriam-Webster puts it, “if you’re likely to encounter a word in the wild” then it deserves recognition.
 
The Buzz around the Block(chain) 

The hype over cryptocurrencies, and their rapid rises and falls, has been on a lot of people’s minds of late. But it’s the blockchain, the tech that drives the digital currencies, that could cause radical changes to how we manage ownership and digital property.
While the value of the cryptocurrencies themselves fluctuate, and sometimes wildly, the value of the buzzword “blockchain” remains an enticing and lucrative idea that investors are scrambling to get involved in.

Before we get into the buzz though, what exactly is the blockchain? Let’s take a look.
 
What is the blockchain? 

The blockchain is an open-source ledger which is decentralised. Blockchain technology means that people can both create and manage digital property, such as cryptocurrencies, independently of banks and other third parties. All entries to the blockchain ledger are time stamped and stored as code across a wide network of computers, providing a measure of accessibility and transparency.
 
Why does this matter? 

Blockchain technology has the potential to disrupt and dramatically change the ways in which we make and manage transactions. Intermediaries such as lawyers, bankers, and brokers may become redundant as the blockchain technology validates and safely records transactions for us instead. In an increasingly digital world, the administration and management of our property needs to change to keep up.

This said, it is important to remember that blockchain tech is still relatively new. There will be many barriers that have to fall, both societal and bureaucratic, before we see wide-spread use across industries. Is it all hype or will the technology really seep into our daily lives? Only time can really tell us, but experts are saying that the blockchain is here to stay and are touting it as a lasting digital revolution.

With that in mind, let’s get our heads around some of those blockchain buzzwords that we’ll all be increasingly encountering in the wild.
 
Buzzwords to Wrap your Mouth and Mind Around 

Like all fields and industries, blockchain and cryptocurrency have a meta language of their own. As awareness and recognition increases we’ll likely hear more and more of this lingo.

Without further ado, here’s our buzzword glossary:

P2P
Peer-to-peer. The decentralised interactions between parties in an interconnected network. P2P participants deal with each other directly through a mediation point.

ICO
Initial Coin Offering. Refers to the initial creation and then sale of digital tokens. These tokens are then sold to the public, normally in exchange for bitcoin or other cryptocurrencies. ICOs are now being used as start-up funds for new businesses.

Address
Cryptocurrency addresses. Addresses are used to receive and send transactions on the network. Addresses are a string of alphanumeric characters and are sometimes represented as a scannable QR code.

Agreement Ledger
A distributed ledger used by two or more parties. Used to negotiate and reach agreement.

Bitcoin
The most well-known cryptocurrency.

bitcoin (lowercase)
The collection of technologies used by Bitcoin’s specific ledger. The currency is itself one of these technologies.

Cryptocurrency
A form of digital currency based on maths. Encryption techniques regulate the generation of units of currency and then verify the transfer of funds. Cryptocurrencies operate independently of a central bank or third party.

Digital Identity
An online identity adopted or claimed in cyberspace. These digital identities can be held by individuals, organisations, and electronic devices.

Ethereum
Ethereum is an open software platform. It is based on blockchain technology and allows developers to both build and deploy decentralised applications. Similarly to Bitcoin, Ethereum is an openly distributed, and public, blockchain network. The key difference between the two blockchain applications is that the Bitcoin chain is used exclusively to track ownership of cryptocurrencies and the Ethereum chain is focused on running the programming code of decentralised applications.

Participant
An actor or agent who can access the ledger, read records, or add records to it.

Private Currency
A currency which is issued by an individual or firm, typically secured against uninsured assets.

Ripple
A payment network built on ledgers which can be used to transfer any currency.

Replicated Ledger
A ledger with one master copy of the data and many slave copies. Master copies are authoritative and slave copies non-authoritative.


Smart Contract
A smart contract is a contract whose terms are recorded in a computer language instead of standard legalese.

Wallet
A digital version of a billfold. Online wallets store and save digital property.
 
Phew… we feel smarter already, if slightly overwhelmed. Are you up on all the latest blockchain buzz? Drop us a comment below if we missed anything crucial!
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Machine translation: Why you shouldn't make it too easy for the program.

6/20/2018

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Introduction

Ever wondered about what you have to do to get a free translation?

One way is to hire a good translator on a long-term basis. My advice for making your money go further: interact on a regular, as-needed basis and build up a database of texts and terminologies that you can use again and again and adapt to suit new developments or new product launches. Not actually free, but cheap in the long run because you’ll avoid delays and costly mistakes.

The other way is to use one of those free computer programs available online. You’ve probably heard of them: Bing Translator, Google Translate, DeepL.

But no doubt you’ve also heard about the problems associated with using one of those programs indiscriminately. That’s right. They get it wrong! But what other options do you have? How about writing in a ‘simple’ way to make it easier for the program to understand the text and do its work properly?

The idea of restricting certain elements of language use with the aim of improving comprehension is quite old, actually, and the simplification approach has been successfully implemented in a number of ‘controlled’ language varieties. It is also claimed that controlled, simplified language facilitates machine translation.

This is the topic I would like to discuss with you over the coming weeks here on the blog. As it is written, this blog article would not pass muster for ‘writing in a Plain English style’. Why not? What are the guidelines and recommendations for writing in a plain English style? Does it improve computer translation results? Or does it create new instances of ambiguity?

Watch out for weekly updates throughout July and August here on the Witinall Blog! Come and join the discussion!
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3 Top Tips to Make Your Business More Resilient

6/18/2018

3 Comments

 
by Samuel Gitukui
The future is unpredictable and this means that even while your business may be doing well now, there is always the possibility that something could go terribly wrong. Think of a natural disaster that is simply out of your control. Sometimes a public relations issue may go viral.

It might seem that there is nothing you can do about such cases but in the actual sense there is. By following and putting in place a few measures, your business will be in a far better position to weather out the storms. Let’s find out a few ways to ensure your business remains resilient.

       1.      Bring in a Partner

A co-founder may be one of the best decisions you can make with your business. Some people will often start their enterprise solo. However, it a well proven fact that co-founders contribute to the overall success of the business.

By having another person assist in the management of the business, you are able to balance your strengths and weaknesses. Securing funding is also easier as the lenders can see that the business is under more than one management, which often signifies a well-functioning enterprise.

When choosing a co-founder, you need to do a bit of analysis. This should be the type of person that you not only get along with but is also strong in the areas that you are not. If you are good at being a wordsmith but poor in marketing, the right partner should be skilled at marketing.

The key note here is not to rush. After all, the enterprise is expected to continue for a long time. You don’t want to get into business with someone you cannot get along with, only to end up separating after a couple of months.

       2.      The Employees Are Part of the Game 

Sometimes the business will be in a chaotic situation. There’s is a PR problem to deal with, there a deadline that have not been met and there are suppliers that need to be paid. And even then, the employees are not panicking but continue to do their work.

But how do you do this? By showing appreciation, giving positive feedback, always motivating your workforce and offering guidance when necessary. It’s all about communicating and offering support.

This does not mean that you should strive to be popular. It simply means that you need to show your employees respect and they will in turn respect you and be willing to help you out.

       3.      Show Resilience in Tough Situations

Sometimes a co-founder by your side is not enough to solve the problem at hand. Things will get sticky even for a workforce that is willing to have your back. When this happens, they will look up to you for advice and guidance.

You will have to show them that you are still the leader in the company and offer a way forward. The best way to approach this is by taking a step back. You will not make rush decisions and will have more time to analyze and come up with a solution.​
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The Importance of Integrity and Honesty in Leadership and Business

6/18/2018

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by Samuel Gitukui
Integrity and honesty in business is one of the most important traits that any entrepreneur can have. In fact, the foundation of leadership has to lie in honesty and integrity. It might seem like something that need not be taken seriously, but trust me, it translates to success in the future.

In the words of billionaire Jon Huntsman, “There are no moral shortcuts in the game of business or life. There are, basically, three kinds of people, the unsuccessful, the temporarily successful and those who become and remain successful. Their difference is character.

There are stories of people who became successful and later lost business simply because of a lack of integrity. Cheating will catch up to you eventually, and the success that those leaders once had will just be temporary.

But what does integrity mean. This simply means that you do the right things the right way just because it’s the right thing to do. Leaders who are honest and have integrity are not interested in being flashy. They just concentrate on doing things the right way.

Integrity means that once you make a promise as a leader, you are keen at seeing it through. This also means that you will be very selective when it comes to which promise and who you are making that promise to. Otherwise, people who are less honest—the “yes” type, will agree to anything just to close a deal.

The truth tends to confuse a lot of people even in leadership. There is a difference between how you want things to be and how things actually are. Integrity means that you are not afraid of the truth. As much as a business leader needs to be brave, he also needs to be accepting of the fact that there is a possibility that they could be wrong.

Failing because you will simply not accept the fact that you are wrong is a very real possibility.

In this day and age there is too much information going around. There is every possibility that you could make an assumption that is wrong. This is not to say that as a leader it is wrong making assumptions but it’s important to leave yourself open to the possibility of being wrong.

Integrity and Honesty should be the underlying principle with every entrepreneur. There are no excuses for this. It is not situational but should be a constant state of mind. If for example you are able to compromise on the small things, you will eventually find that you will also compromise the integrity with the big situations simply for convenience sake.

As a leader with integrity and honesty, you will be able to treat people justly even when they are unfair. This will eventually create a more hospitable working environment and relationship with your employees. What’s more, when they view you as both strong and just, they are more willing to respect you and follow your lead. 
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How to Stay Ahead of the Game Through Improved Business Strategy

6/13/2018

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by Samuel Gitukui

Having a business is one of the best choices most entrepreneurs admit to ever making. It gives you a sense of security where you are not worried about your income. However, to remain in the game, you need to avoid being complacent.

Remember that yours is not the only business offering that service or product. If you do not stay up to date and ahead of your competition, you may find yourself in a tricky situation where everything suddenly becomes uncertain. To do this, shift your focus on your business strategy. It’s time to up it. let’s take a look.

       1.      Take a Wholistic View

Keep an eye on the trends. We are not simply talking about applying new paint to your office to make it look more presentable when we speak about the business strategy. The first thing that you need to do is find out how the customers’ interests are changing and how the competition is adapting to provide even better services.

You want to be more appealing to your customers. But how can you do this? Business magazines, attending conferences and reading trade journals are a few ways to keep yourself up to date.

Once you learn of new methods in your industry, the task now becomes implementing them in your business in the right way.

Before you start adding new concepts to your business, you need to first consider how it will affect the entire business as a whole. You want to implement new strategies in such a way that it joins neatly into the fabric of the organization.

Any significant change that you make will certainly reverberate through the business in what can be viewed as a ripple effect. This is why its important to take your time, learn the concept in its entirety and find out how to best merge it with your business.
​
       2.      Go Back on Previous Concepts

Whenever you introduce something new, it’s easy to get carried away and lose focus on the past. However, as much as you need to keep up to date, you also need to go back on previous concepts and find out if there are any improvements that need to be done.

In this way, you will not run the risk of losing ground as you look for even more customers. The trick is learning how to strike a balance between going back and moving forward.

       3.      Be Open to Advice

The best advice comes from people who are leaders in your industry and who you can get in contact with. They can tell you how to make the right changes. As an entrepreneur, you just cannot presume to know everything.

However, on the other hand you need not reveal too much as you are asking for advice. Business requires you to stay on your toes. Look for solutions but never reveal too much about your organization as you may unwittingly pass on information that the competition could use to their advantage.
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How to Gain More Clients with the Power of Persuasion

6/13/2018

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​by Samuel Gitukui

Some people are naturally more persuasive than others. It comes down to their personality and the fact that they tend to be likeable people. When such a skill is brought into the business concept, it can prove to be an invaluable tool.

But what happens when you doubt your personality? Does that mean that you simply cannot take advantage of the power of persuasion? The good thing is, such tricks can be learnt and taken full advantage of. After all, which business person wouldn’t want to be able to convince others to buy more of their products?

Let’s take a look at 14 tricks that can significantly raise your ability to persuade people. Without further ado…

       1.      Understanding Your Audience

Before you even take the initiative to talk to someone, you need to understand them. Some audiences are made up of highly strong-willed individuals with dominant personality traits while others may be shy.

With the former, you need to also show that you are assertive for them to be willing to listen to you. The opposite is true with shy people. By lowering your assertiveness, you are less likely to appear too strong.

       2.      Create a Rapport

Most people approach other people as a target to be achieved. It’s no wonder their ability to convince them is questionable. For someone to be willing to do what you ask them to do, you need to create a connection at a more personal level.

Imaging if someone simply started explaining to you the benefits of a product. Your first impression would likely be that this is yet another sales person trying to sell me something. However, if someone began by telling you a story and creating a conversation and then gradually introducing a product, you would be more likely to make a purchase.

       3.      Don’t Be Too Pushy

People are naturally weary of people who come on a bit too strong. In fact, the natural reaction is to head the other way which would give you little chance to get them to buy your products. Subtlety is the name of the game. You need to be confident and yet still able to let your audience ease into the conversation.

Once your audience gets comfortable, your chances of convincing them goes up. By appearing friendly and introducing your product while giving your target a bit of time to make a connection, you can convince them that this is the best solution for their needs.

       4.      You Can’t Show Doubt

Using words such as “I think” or “possibly” is not the best way to appear persuasive. This instead makes you sound unsure. You need to appear confident and introduce the concept it in an articulate manner.

You also want to avoid talking too much. A good way to approach this is to ask questions and give your audience the chance to respond and to provide you with their views and opinions. This also helps to create an even better connection.

       5.      Express Yourself the Right Way

One of the best ways to get people to open up and become more receptive is by using the right tone, and body language. Crossed and uptight will normally revoke the same feelings from the audience. Try letting loose, less formal and talk in a casual and friendly way.

In this way, people will view you as a simple person to interact with which only makes it easy to establish a fruitful two-way conversation. Note that the trick is to share positive energy and you can only do this if you feel positive yourself. Other ways include maintaining eye contact and being enthusiastic.

       6.      Talk in a Clear Fashion

Remember what we said about being articulate? You will have to learn the subject so well that you can easily explain it to a child fast and easy. And when you are trying to persuade someone, you will also be able to tell them all about the important factors with a few short and concise words. After all you want to avoid being too mouthy.

If you can explain it to someone who doesn’t know anything about the product, you can definitely persuade someone who has some background information.

       7.      Uphold Honesty and Integrity

Trust me, people can tell a fake. If they spot any untrustworthy character in you, your chances of making a sale are pretty much over. People want to deal with people they can trust and they feel are genuine as opposed to someone who could sell you something that could potentially cause you harm.

To be persuasive, you simply need to be yourself. One of the biggest mistakes that people make is trying to be another person simply to make a sale. You do not have to step outside your character. Simply talk in a friendly way and show that you can be trusted by displaying a deep understanding of the product.

       8.      Accepting Other People’s Point of View

Try using statements like, “I see what you are saying” and “that’s a good question”. This expresses your willingness to listen and concede to the opinions of others. What that says to them is that you are not forcing your opinions and views onto them.

By showing that the opinions of others are valid and worth being considered, you gain more respect and appreciation which makes you better able to persuade them.
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       9.      Ask Questions

As much as you need to explain your views, it is also highly important that you listen and ask questions. Most people get too much into explaining and do not give the other party a chance to talk. By asking relevant questions, you give your audience a chance to speak back.

People like people who listen. As you ask questions you are showing that you are attentive and that you care about what the person is talking about. That alone is enough to gain you the respect as well as the appreciation necessary to convince them to do what you want them to do which is to purchase your products.

       10.  Make the Presentation More Vivid

People are far more likely to understand a concept where visual presentations are made. But what if the situation doesn’t allow for this? You can breathe life into your explanations by including stories that help the audience to relate with the situation.

These stories will resonate in the minds of your audience for a long time. They create their own imagery which also makes it easier to persuade them.

       11.  Creating a Long Lasting First Impression

The first impression is crucial. You can make or break the progress of a conversation with the first impression. In fact, research has shown that people already have an impression of you within the first few seconds.

The remainder of the time people are often justifying their judgement. With this information in mind, you can decide on the right approach to create a strong first impression. You can achieve this by having the right posture, tone of voice, smile and being enthusiastic.

Once you succeed in making the best first impression, your potential clients will remember you and may stay loyal to your products.

       12.  Offer Your Clients Some Time

Being patient is a virtue that anyone in business should master. If you rush and become too urgent, the audience will likely hold onto their original opinion. However, people need time to accept change. By being patient with your clients, you are more likely to change their opinion to yours.

Sometimes the presentation might be a completely new concept to your audience. Before they can be familiar with it and get comfortable with it, they will obviously need time. Allow them a period for things to sink in. You will be surprised at the results.

       13.  Refer to Someone by Their Name

Names should not only be used when you meet a person. It is always as a good idea to refer to them by their name every now and then during the conversation. It gives them a feeling of validation making them more open to having a conversation with you which brings you even closer to making a connection.

Some people have trouble with names and tend to forget easily. However as with everything else, you can improve on this by training your mind to recall the names of different faces. In due time you will find that you can recall much more easily.

       14.  The Importance of Smiling

When you smile during a conversation you will find that people often smile back. Have you ever tried touching your eye when looking at someone and found that they were doing the same? This is because of human psychology where people naturally mirror the actions of someone else.

People who are good at persuading others will often carry a smile. This makes their audience drop their guard and engage them in a conversation which in turn makes it simpler to convince them. 
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What is Business Strategy?

6/11/2018

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by Sarah O.

You’ve heard it time and time again – what is business strategy?  It’s time that we answer this question and how it relates to having a successful business. Business strategy refers to how your particular business plans to achieve its objectives and improve its performance in the particular field it specialises in. There are many points to note when it comes to business strategy or business performance, take a look at a few…

Standing Out As A Business

1.      Business strategy is not just about competition - something that a lot of people don’t realise. When we think  about competition, it usually involves an unhealthy increase of rivalry between competitors that produces disastrous results. Healthy competition in business is completely different because it is coupled with uniqueness. When we think about what that means, we can immediately conclude that as a business, when it comes to your business plan and performance, you will need to ensure that you stand out amongst other competitors and do so remembering that your company needs to stand out. There is a level of respect that is evident when, as a business, you carry yourself with confidence to demonstrate that what you offer is of more value to consumers without demeaning other businesses and what they have to offer.

https://www.inc.com/entrepreneurs-organization/the-importance-of-standing-out-in-business.html  Have a look at this entrepreneur's views on this point and why it is so important when we consider the growth of a business.

Let’s Make Profit
 
2.      Business strategy also involves a vision of making profit. Nothing new – this is standard for any business.  We know that it is very important to have customers in mind and in what their needs are, which of course is a bonus, but a profit margin is also very crucial. What you are looking for here is progress and development – progress within your business that will demonstrate that you are elevating and moving forward producing additional profit.
 
Branch Out & Explore
 
3.      Another note to keep in mind as a business, is that it is very important for you to branch out and explore the field you are settled in. Don’t be afraid to look outside the box regardless of the industry you have chosen. The world is ever changing, and we are learning new information every day, that keep us in the loop of the changing environment.  So, it might be that, if you are regularly assessing the success of your business and you see that there is no progress – then have a look at other areas that you can branch into as there might just be another market that you can squeeze into. 
 
Strategic Literature and Tools
 
4.      Take advantage of strategic literature and tools that are available for you to use. This will give you a firm foundation to allow you to become familiar with strategic essentials that will help your business. For additional support, there are business analysts and specialists available that are dedicated in providing advice and support to businesses to be successful.

Business strategy is becoming more and more important. As your organisational structure changes, you will need to make sure you know what is going on in order to adapt accordingly. If you choose to opt out of implementing a business strategy, then you will increase the risk of your business not only losing profit, but more importantly – you will lose your valuable customers. 

Strategy definitely has a lot to do with being competitive and in making whatever product or service that you offer – better. This is something that should be kept in mind and will serve as a driving force to ensure that as a business, you are developing and meeting the needs that you should be. 

Now we are going to focus on how you can reach your audience and use your business strategy to do so.

Business Strategies To Reach Your Audience

So, you’ve set up your business, you’re ready to go…now what?  What is the next step?  As you already know of the importance of communication – we need to keep that channel open. In order to know where to delve into, you will need to be disciplined as to where to cast your line. Knowing where to go will allow you to reach the correct audience and to do so with consistency. Have a look at the following tips and give them a go…

1.       Who Is Your Target Audience?

Before you examine how to reach your audience, you need to determine who your audience actually is! This is where market research comes in handy!  Market research involves the gathering of information and data to use to analyse and interpret about target markets and consumers. Businesses that make use of market research are able to use that information to target their audiences and any potential customers. This aids customer satisfaction and allows a company to remain reputable.

2.      Networking All The Way!

Social media has been taking the world by a storm!  Many businesses are now taking advantage of the importance of joining the ranks in reaching people. You too can benefit from this avenue – which not only reaches the adult members of the public but also the younger generation of our time.

3.       Combination!

Do not be set on jumping into just one avenue. Explore all areas that will allow you to reach your audiences. Be consistent but do so in different areas, adapting it to where it is necessary. Combine every avenue together and see what works for your business.

4.       Track & Evaluate Your Strategy!

Whatever avenue to decide to choose, you must make sure that on a regular basis – you assess your strategy. If you have branched into different avenues, monitor these areas to ensure that your desired audience is being reached.
 
5.       Communication!

It is very important to communicate with your newfound audience!  This is an opportunity to connect with your audience to show them that you are interested in them and that you understand their needs.  Check out http://smallbusiness.chron.com/tips-knowing-target-audience-communicating-within-organization-36023.html for more tips on communicating with your audience!

Take advantage of these key tips and you’ll experience business growth and success – exactly what you are looking for! If possible, review your strategic skills and consider where you want to take your business to succeed.
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Top 6 Tips for Attracting New Clients to Your Business

6/4/2018

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by Samuel Gitukui

When you have a business running, one of the main ways to stay on top of your game is to not only retain your current client base but to attract new customers as well. Mastering this skill ensures that your business remains on an upwards trend as the years go by.

Let’s take a look at top 6 ways to get new clients.

       1.      Make Contacts

The best contacts are businesses that are in the same industry as yours but will not necessarily be competing for the same market as you. By creating friends who have a business that is beneficial to yours, they can send their customers who need certain products that you sell your way. It becomes a win-win situation.
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       2.      Be Diverse in Your Marketing

One of the benefits of the modern business environment is that it provides many different channels through which you can reach customers. Whether its YouTube, email, Facebook or Twitter. By marketing yourself through these different channels, you ensure a steady stream of customers. 

       3.      Data Analysis

We simply cannot stress the importance of data analysis. There is an old saying “Numbers don’t lie”. By analysing what your clients are doing, you will learn about their buying habits and interests and adjust your strategies accordingly. It’s about providing the customers with what they want, and this is difficult when you don’t have the right information.

       4.      Learn From the customers Themselves

A lot of entrepreneurs do not take the time to get feedback from the customers. Loyal and long-term customers will give you invaluable information on the quality of the service or product as well as what can be improved and what can be taken out.

By making the necessary changes and improvements, you will set your business to gaining even more satisfied customers.

       5.      Check the price

It’s no secret that most customers are price sensitive. If you want to have a wide reach you need to know how to manipulate the price to get the customers to you while still operating well above your costs.

For example, you can forgo selling 10 units of a products for a $4 profit from each unit to $3 profit from selling 20 units. At the end of the day, you will have made more money.

Once customers find that they can get a high-quality product for less, they will pass on the word and send even more customers your way.

       6.      Provide Alternative

There are some customers who simply cannot get the product they need because what is in the market doesn’t suit their situation. Think for example a company offering renewable energy services. A person who lives in an area with a lot of trees may not be able to make use of solar panels. However, community panels are a good alternative.

Entrepreneurs need to always remain on their toes to prevent their businesses from becoming obsolete. Customer interests, tastes and preferences are always changing and to ensure that you keep getting new ones, the above strategies will help.
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Making Performance Reviews Something to Look Forward to

6/4/2018

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by Samuel Gitukui

Employees dread the end of year performance reviews. They view it as a time to criticize their work and show them just how much they are underperforming. However, it doesn’t have to be like this. By making certain changes to the reviews, you can turn it into a favorable experience for both employees and management alike. Let’s take a look!

       1.      Make the Whole Process Simple

One of the things that make end of year performance reviews so boring is how lengthy they are. If you can make things simple and less time consuming, employees will be more willing to see it through. 

One area where there can be improvement is in the questions. Add relevant questions that touch on the actual performance improvement of the employee such as where they can do more and make progress and how the company can offer help. 

Second, instead of setting goals that are too high, you can start by setting achievable, more realistic goals. It is always a good idea to automate the process. As a manager or entrepreneur, you will be more able to track the employees throughout the year.

       2.      Find a Constructive Way to Pass on Negative Feedback

You might think that employees are apprehensive of feedback but research shows that the majority of them are open to constructive criticism.

The trick lies in how to pass on this feedback. Care should be observed. You do not want to bring the morale of your employees to an all time low.

You can achieve this by speaking to them in a way that is not offensive and make the employees more accepting of making the necessary changes.

       3.      Add in Some Positive Feedback

This is one of the best ways to help employees look forward to the end of year performance reviews. You want it to be a chance for them to be recognized for the things they did right. Positive feedback is crucial and will help employees stay motivated for the coming year.

In fact, data shows that companies that offer positive feedback to their employees have 14.9% less employee turnover compared to organizations that offered the employees no feedback at all.

It’s all about recognizing the benefits that the employees bring to the company and appreciating them for it. This will also serve to motivate the other employees because they are able to see that this is a company that recognizes the efforts of its workers.

4.      Ask for Peer Feedback

One of the best ways to improve performance reviews is to solicit some feedback from the employees themselves. Not only will management have a different perspective but the employees will not see this as a purely management exercise. It will foster a feeling of togetherness in the organization.

The main aim of conducting performance reviews is not to criticize employees, it is to help them develop for a better performing business. By following the tips above, you can keep your employees motivated and help them increase productivity.
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