business structure for today's economy in bulgaria
DESCRIPTION
TRANSCRIPT
Adjust Your Business Structurefor Today’s Economy
© Expressive Business Strategies 2009 All Rights Reserved
The Economic Fundamentals Never Change
People have unfulfilled needs, andBusinesses want to fulfill those needs…For a price
The Attributes Unique to Today’s Economy
Global, globally competitiveTied to a global economyCompetitive saturationFast-pacedFast-changingEfficientKnowledge-basedCommunication required
Do You Need to ChangeAny Part of Your Business?
Ideas: Tailoring aspects of your business for today’s economy
Idea: Focus on what you know,outsource what you do not know
Become an expert at something Focus on your core competencies – the essential
things you do best You cannot, should not, do everything What is your business’ core product or service? Control the things that affect your success Outsource what you don’t do well Time has great value
Idea: Make it easy to find you Web site – your focal point Social networks – Like-minded people Search engines – customers in discovery mode Blogs – people looking for information Professional associations – peers and business contacts Networking – The people around you Conferences – peers, competitors, co-learners, potential
future employers and employees Signs – For people driving by Advertising - Let people know you exist Email signatures – every email is a free ad Reviews – Show people you exist and what you know
Idea: Make it easy to contact you Make it easy to contact you Phone (toll-free, cell) Fax Email Instant Messaging Texting Web Mail Business cards Brochures
Idea: Make it easy to do a transaction
Minimize barriers to making a transactionHave multiple product price pointsAccept all forms of paymentUse internet-based economies like Amazon,
eBay to get into the head of the internetDo business with reputable, world-wide banks
that won’t get rejected
Idea: Learn from others
Study how successful businesses operateStudy long-established businesses in your field
to see how they operate and learn why they have been in business so long
Study new businesses to learn if there are new methods you can incorporate
Idea: Build a virtual business
Virtual = “a working substitute for the real thing”
Hire for essential tasksOutsource non-essential tasksPartner with businesses that complete your
business processexample You do the design, and contract with a
manufacturer to build the product
Change is continuousRefine your skillsStudy other businessesLearn new thingsMeet new peopleTravelTalk with strangersHelp others less fortunate than yourself
Idea: Never stop learning
Questions