Dominate Your Target Market


Once you have all the guests that come to you naturally taken care of, then it's time to go after some high concentration target markets.When you pay $500 for an ad in a business journal, you are competing with every other advertiser to get the reader's attention. You're nothing but a minnow in a great big sea.Don't believe me? In small print offer a $100 bill for the first person who calls. You won't get very many calls.How would you like to be the Donald Trump of restaurant and catering and dominate? It's possible if you strategically pick targeted industries or groups and keep your name in front of them on a regular basis.The first step in dominating a market is to understand the pain or fear they could feel if things screw up or the positive outcome that they seek. These are referred to as hot buttons.

Everyone feels their problems and challenges are unique to them and their industry. Let's face it, everyone fears paying for food that they don't enjoy or if they are catering they fear running out of food. When you can show them you 'speak' their language you now become a specialist, not a generalist. Use your guarantee to help accomplish this.Brain surgeons make more than internists. Become a specialist. It's easy. Interview some of your customers in a particular target market to understand their pain or desires and incorporate those hot buttons in all your letters to that target group. You will also want to get testimonials from others in that group. Wilson Property Management will think much more of you with a strong testimonial from Atlantic Property Management than with a testimonial from the local youth group.Your goal is to dominate your niches. The good news is you can dominate the whole city niche by niche.We dominate the church goers on Sunday, businessmen for lunch during the week and families with kids at night and weekends.

In catering we also dominate Office Catering, Doctors Office Catering, Weddings as well as large employer and retail store niches. Because we take the time to know these groups, we own the market.What niche are you going to dominate?1) Look At Your Customers and Identify Target Markets2) Build A List of All The Companies/People In That Niche (yes even social caterers can use this strategy - just make a list of all the people who throw big parties, How about organizations that throw social galas, you can dominate that market in no time too.) 3)Identify Your Target Market's Hot Buttons 4)Get Testimonials From Your Guests/clients In Your Target Market 5)Customize/target letters and marketing pieces in the System, Incorporating Testimonials and Hot ButtonsOnce you see how powerful dominating a niche can be, you'll go about dominating your marketplace niche by niche. You'll find it cheaper than mass media.

Business Planning Documents: How to Create a Great Marketing Plan


A marketing plan is essential to the overall development of any company. Before beginning, make sure the project is well-researched. It is easy to figure out how to put together a business plan or a sales plan simply from a basic Google search, but a marketing plan requires a little more investigation. A trip to the local book store or even a near by university research library can be very advantageous in this task. Take care to ensure you understand the components of how each section is put together and get a full understanding of terms and where to find supporting data. The plan will rest on how realistic the data is inside of it and the content that is presented.

The basic components of a marketing plan are as follows:Here is a sample of how the table contents should turn out:Once the writing is complete, it is important to ensure that the marketing plan is in a presentable format. Consulting a Technical Writer or Graphic Designer to assist you in putting the document in a well-presented template will add to the credibility of the work as well as the audience's receptiveness. Take the time to select a delivery method that not only looks great but suits the audience as well. Some options to choose from are: bound manual, web page, PDF or a flash presentation on a CD.Once the content is complete and the company has selected how the material will be presented, set it aside for a few days or even weeks and come back to it with fresh eyes to check for grammatical or formatting errors.

When it is done to full satisfaction, it is then time to distribute the marketing plan as desired and rest assured that the comprehensive marketing plan that will support the company endeavor!Charlene Rossell, Technical WriterWriter - Now accepting applications for a MuseRequest a FREE SEO Marketing Strategy document today!

Strengths For Business


When the business of the sustainable, you should continue to send forces to improve management. At the heart of a successful business is the ability to work, to achieve results, as compared to how it is done by competitors. For real progress, a business must strive to work better than others. Required to self assess their actions and measure their effectiveness. Even with a stable business can achieve much more. In order to really make a good profit, you need to have ambitions to go to that next level. This is why you should learn to think and act strategically. Next are the basic principles that allows you to master the strategic business habits. To improve the competitive advantage, consider the following questions. What exactly do you as a business, can do better than others? What skills do you have and what special about the business, which could provide a basis for competitive advantage? After careful thought, you can see exactly who your direct competitors. Often seen as a competitive advantage of choosing a reasonable and effective in the marketplace. But to make this the best choice when you can only carefully study the business.

The choice may depend on the position of the market and of how it presents your products. A special ability that sets your business compared to other, closely related to competitive advantage. But it is even more important, that means that you have what the competitors do not have. Often, a special ability and characterizes profitability. Often, knowing what it is, you can use it optimally. Special ability can represented skills, experience, advanced technology, resourceful staff. Businessman is very useful to look at the merits of their employees to identify their hidden talents. Using the principle of synergy, stands as one of the basic principles of strategic thinking. Here, you, as a businessman, you will need to find out what elements can twine, expand, merge, modify, to create a better ability to make money. Exploring the potential use of the principles of growth and synergy, it is a very powerful tool to analyze the business. Study your competitors to ensure that a clear understanding of how your business fit into the overall industry which you are engaged. You should do that regularly, as business requires readiness to respond quickly to changing circumstances.

Create and apply strategic principles necessary not only for the growth of the business, but to maintain existing market positions. Strategic thinking allows a businessman to do careful planning. This can not be mastered at once, but gradually it should. Study of previously aspects of the business, watch, learn, do not hurry, do not make hasty planning, first think. Every business is unique. Only serious research will help to collate the information. When you gradually find areas requiring attention and support, you can take steps to improve them. In order to form a strategy to not only explore the strengths and weaknesses, and try to see the long-term. Strategy often requires the skills and confidence to identify a suitable case for changes. Implementation of these actions will enable your business to operate more consistently and to lay a solid foundation for further development.

10 Ways to Realize Hidden Opportunities


"Great moments are born from great opportunities," said the late Herb Brooks, one of the world's most famous hockey coaches.Brooks certainly seized opportunity during his career. He agreed to coach the 1980 U.S. Olympic team that beat the "unbeatable" Soviet Union in Lake Placid, New York during the famous "Miracle on Ice" game on the way to winning the gold medal. It was a modern-day "David vs. Goliath" matchup. Many coaches would refuse such an overwhelmingly difficult job. In fact, several did.But Brooks saw opportunity in the monumental challenge of leading a bunch of young, amateur, college all-stars against the essentially professional players of the Soviet Union and other European hockey powers.That opportunity paid off, to say the least.Whether you're talking about sports, business or any other subject matter, seeking, finding and capitalizing on opportunity are among the most important things a professional must do.There's one big problem with opportunity, however. It is often hard to find and even harder to harness."We are all faced with a series of great opportunities brilliantly disguised as impossible situations," said Charles Swindoll, an American religious author.

I agree wholeheartedly with Swindoll's characterization. The best opportunities are often hidden. They are often located in places we least expect to find them and are presented by people we least expect to provide them.That reminds me of the old story that sales managers like to share with their young trainees: "On his way back from a three-day fishing trip, a multi-millionaire visits the showroom of an upscale, luxury car dealer. The salespersons, seeing an unshaven, disheveled, poorly dressed man, essentially ignore him. Offended, the multi-millionaire buys a top-of-the-line model the next day from a direct competitor." There are a lot of ways to tell that classic missed-sales-opportunity story, but they all sound something like that.If opportunity is so important to our success, and so difficult to find and recognize, we need to focus more of our energy on it. Unless you're naturally good at it, finding and capitalizing on opportunity needs to be a deliberate focus:Open your eyes and ears - we can no longer afford to be indifferent, or even worse, oblivious to the world around us. Be on the lookout for ideas that could lead to new opportunities.

Even more important than eyes and ears, keep your mind open too. Many of us miss opportunities, because they don't fit into our pre-existing paradigms.Remember that all people count - sometimes we get so obsessed with the "right" people, we miss out on valuable opportunities from people, who on the surface, can do seemingly nothing for us.Fight through the fear - one of the biggest reasons we miss out on extraordinary opportunities is because we are too afraid to leap. Herb Brooks wasn't too afraid to leap; we shouldn't be either.Let your creative juices flow - the Nobel Prize-winning scientist Albert Szent-Gyorgi once said, "Discovery consists of seeing what everybody has seen and thinking what nobody has thought." The more creative you are, the more opportunity you will discover. See the world in a different way, and doing things like nobody else, and just watch the opportunities that manifest.Take risks - As the old saying goes, "nothing risked, nothing gained." Unless you take a chance and do something new, you'll keep running into the same old opportunities.Work really hard - "Opportunity is missed by most people because it is dressed in overalls and looks like work," said the great inventor Thomas Edison.Set meaningful goals - make those goals specific too. The more you clarify what you really want, the quicker you will recognize it when it shows up.Find quiet time - many people have found great opportunities, because they prayed for them or spent time meditating about them. Such activity creates focus in your mind, and a focused mind is a powerful mind.Believe - visualize success and tell yourself that good things will come. A positive mind is more receptive to hidden opportunity.Prepare - as the old Boy Scout motto says, "be prepared." You never know when the perfect opportunity will open up. If you're not prepared, you might not act on it quickly enough. In his autobiography, former New York City Mayor Rudy Giuliani said he believes in "relentless preparation." He constantly prepares for crisis, so he will perform properly. Same thing applies to opportunity.

Business Continuity Planning BCP – The Show Must Go On


Business Continuity Planning prepares an organization for the internal interruptions like power failure, technical problems - and external threats like natural calamities, supply chain problems and more.BCP ensure that your organization has the backup of both hard and soft assets to prevent or recover from a crisis situation. It allows you to continuously deliver your products or services even under adverse conditions.Vital steps of BCPExpect the UnexpectedYour business can get interrupted from a number of possible scenarios. Downtime resulting from natural calamities, like hurricane, fire or flood, or from internal issues like power outage, hardware failure, or any kind of human error, leads to decreased productivity and hence loss to the revenue.While a CEO develops his disaster recovery strategy in advance, he should consider all possible downtime and disaster scenarios and should chalk out preventive measures for each.For example, there should be a fire alarm system in the building along with sprinklers and other fire fighting equipments. There should be a timely checking and maintenance of the equipment to make sure they are working fine.Conduct a Business Impact AnalysisBusiness impact analysis will help you develop the action plan you need to follow at the time of any structural or natural disaster. It involves three steps:You should know about your key product and services that bring you highest these particular product and services, you should decide the duration you can stop delivering them.Identify your critical inputs so that you can continue to offer your products and services.

Educate Your Manpower About BCPBeing the CEO of the company, you should ensure all your employees are aware of Business Continuity Planning. They should know exactly how to act in any kind of crisis situation. For example, conduct regular training sessions on BCP for your employees. Organize fire drills on fortnightly or monthly basis to help your staff stay proactive.If you are running an IT company, maintain a reliable data storage system and encourage your staff to store the data in that system in order to prevent loss of data due to any technical problem.Plan to Keep Your Manpower, Systems, and Information interconnectedThe business continuity plans and strategies must cover information , systems hardware and software, manpower, and processes, operations and services along with their connectivity with each other. If the connectivity between workforce, and systems & data disrupts, there will be no business.As part of thought and planning process, you should look for the best strategy to manage critical systems and components during bad times.

Be Ready With Continuity StrategiesYou can continue to run your business effectively after disruption, if you give some forethought and develop efficient continuity strategies. These strategies may include:Review Your PlanThe needs of business keep on changing with the market. Review your business continuity plan every six months and make the necessary changes. Keep an extra copy of the plan at some other site.You can also seek assistance in developing business continuity planning at executive business coaching. At CEO coaching, you will get to meet like-minded professionals from non-competitive organization who will share their good and bad business experiences.Knowledge sharing at a CEO peer group will help you define your strategies in a better way so that the show goes on in any condition.

Pricing Strategy


While developing your pricing strategy, it is important to remember that there is an implicit relationship between price and value. We expect to pay more for gourmet food than for fast food and for a luxury car than for an economy model. At the same time, value is a matter of opinion, not fact.In order to get this information, you need to use a research tool that will give you the data in a clear, concise, objective manner. Because if you are researching eBay pricing and sell-through rate data by "eye-balling it" on eBay, you're very likely going to miss something.Product line pricing strategies can be further complicated by competitive activity by product, not exclusively by line. If you have five competitors for one of your products in the line, and then only two competitors for the other products in the line, you might use a different price strategy for the product with lots of competition, than the other line products.The challenge for businesses with this strategy will come from having too many competitors in the market. If there are too many competitors, each with a full line of products in the varying stages of the product life cycle, buyers will find it difficult to make decisions based on quality or service or value for the price.For new product in a new market, the cost mark-up is the most popular method. There is no need to think about pricing at all, just simply add an amount of profit on top of the cost and that is the final price.

At first, the method may seem attractive but eventually the sellers will find out that their profit is not up to their expectation, and the customers are suspicious of the attractive price.Pricing your product or service is one of the most important issues that you need to tackle. You must be wondering as to what is the procedure to follow to develop the best pricing strategy for your company. While there is no particular approach that you must adopt, definitely, there are some important things that you should bear in mind while creating one.Other factors that affect your pricing strategy are the economics of your business. Depending on the current situation of your business's performance, your mark-on has to ensure sufficient profits to sustain your business. Sometimes, to increase your sales volume, you can lower your mark-on to price selected merchandise.Today's buyers prefer to waiting for the 1st price reduction before they come in - to see some flexibility on the part of the seller.

The bigger the "hair cut" the more assured the buyer feels about getting a deal. A steal, even! Exactly the same way one feels at the mall when a $400 jacket is on sale for 75% off!Businesses using market penetration pricing are usually trying to penetrate the market by growing their share of the market. They assume that the lowest price will win market share. Make sure that if you use this pricing strategy that you test your market, your price sensitivity and your price elasticity or in-elasticity first.This pricing strategy is also used in product line pricing. This strategy bundles, and usually packages, like products together to be priced as companions (for example, a mixer and a mixing bowl) and as captives (for example, pens that have to have a specific refill (not generic), razors that can only use a specific blade, etc.).

Business Continuity Planning BCP – The Show Must Go On


Business Continuity Planning prepares an organization for the internal interruptions like power failure, technical problems - and external threats like natural calamities, supply chain problems and more.BCP ensure that your organization has the backup of both hard and soft assets to prevent or recover from a crisis situation. It allows you to continuously deliver your products or services even under adverse conditions.Vital steps of BCPExpect the UnexpectedYour business can get interrupted from a number of possible scenarios. Downtime resulting from natural calamities, like hurricane, fire or flood, or from internal issues like power outage, hardware failure, or any kind of human error, leads to decreased productivity and hence loss to the revenue.While a CEO develops his disaster recovery strategy in advance, he should consider all possible downtime and disaster scenarios and should chalk out preventive measures for each.For example, there should be a fire alarm system in the building along with sprinklers and other fire fighting equipments.

There should be a timely checking and maintenance of the equipment to make sure they are working fine.Conduct a Business Impact AnalysisBusiness impact analysis will help you develop the action plan you need to follow at the time of any structural or natural disaster. It involves three steps:You should know about your key product and services that bring you highest these particular product and services, you should decide the duration you can stop delivering them.Identify your critical inputs so that you can continue to offer your products and services.Educate Your Manpower About BCPBeing the CEO of the company, you should ensure all your employees are aware of Business Continuity Planning. They should know exactly how to act in any kind of crisis situation. For example, conduct regular training sessions on BCP for your employees.

Organize fire drills on fortnightly or monthly basis to help your staff stay proactive.If you are running an IT company, maintain a reliable data storage system and encourage your staff to store the data in that system in order to prevent loss of data due to any technical problem.Plan to Keep Your Manpower, Systems, and Information interconnectedThe business continuity plans and strategies must cover information , systems hardware and software, manpower, and processes, operations and services along with their connectivity with each other. If the connectivity between workforce, and systems & data disrupts, there will be no business.As part of thought and planning process, you should look for the best strategy to manage critical systems and components during bad times.Be Ready With Continuity StrategiesYou can continue to run your business effectively after disruption, if you give some forethought and develop efficient continuity strategies. These strategies may include:Review Your PlanThe needs of business keep on changing with the market. Review your business continuity plan every six months and make the necessary changes. Keep an extra copy of the plan at some other site.You can also seek assistance in developing business continuity planning at executive business coaching. At CEO coaching, you will get to meet like-minded professionals from non-competitive organization who will share their good and bad business experiences.Knowledge sharing at a CEO peer group will help you define your strategies in a better way so that the show goes on in any condition.

Services And Trends of Trade Service Solutions


Trade services are soon emerging as one of the crucial areas for research and policymaking in terms of the global trade scenario. A General Agreement of Trade-in-Service (GATS) was implemented back in 1995. However, it was only recently that there was the realization of close link ups between goods and service exports, and the development of an improved information system, that researchers have given greater significance to trade certain aspects for instance "Comparative Advantage" and "Trade Liberalization".

However, since efficient research on this same lagged, the negotiations and policy analysis have to supplement whatever assessment can be gained on the service sector.An essential cause for the lack of systematized structured facts and data concerning services exports is due to the diverse nature of the industries that constitutes it. The World Trade Organization clearly defines 12 service industries, where every industry segment highlights a distinguished trait, measurement concerns and economic incidence. Furthermore, each service industry section has four trade modes in it and that trade in services comprise of imports and exports as well.Recently, there has been a rise in the trade servicesorganizations providing a shared data platform, over multiple vertical markets to enable the trading members interact with others and operate their regular business.

The features and functions of trade and service companies are built on this aspect. At the same time, constituents in every market need the appropriate business information on which certain time-sensitive and critical decisions depend. Essential information generally source from incongruent sources and hence, organizations need to come up with a procedure to efficiently interpret and manage it. Eminent trade in service enterprises specializes in the following sections:-These services help them in gaining a competitive advantage over the other market players.Recently, numerous service providers in trade services offering in the product and pricing data to the electrical industry have come with up innovative pricing solutions. To elucidate, solutions that offer an internet base user data system thereby providing end consumers and users with an advanced and detailed outlook on every manufacturer price as well as product developments in the future years. The admission to these systems in customized for every single distributor available via a secure username and password. To share few names would be the electrical pricingand copper pricing.

Answer These Business Plan Questions Before Presenting


Rather than presenting your business plan to funders only to hear difficult questions for the first time, why not think ahead of the questions funders will ask and incorporate those answers into the plan ahead of time? Here are some key questions and how you should go about answering them in your business plan.Why Are Your Chosen Managers Qualified?Funders are looking to see not just that the founders want to start the business in question, but that they have the qualifications to launch and run the business. They must at least have the qualifications to be hired to run a similar existing business.

Furthermore, some entrepreneurial skill from launching other businesses, products, services, or programs will be helpful. It should also be clear that each manager has functional experience in the areas which they will have responsibility for (such as operations, sales, marketing, finance, etc).Can This Business Scale Up?Investors will be especially interested in your business using its initial operations to create a foundation for much greater growth.

Wherever possible, explain how the business can add additional locations, products, services, or customer markets in the coming years, spreading the startup costs over more and more revenue. Investors will not be as attentive if your plan describes a small business which is created more or less to stay small.When Will The Business Break Even?Know when the business will reach break even from a cash flow standpoint (when monthly cash inflows begin to exceed cash outflows and the company no longer has to dig into cash reserves) and from the perspective of covering all of the initial startup costs and earning profit on top of that. Cash flow break even should occur within the first year if possible, while break even over startup costs may be in the first or second years generally. Funders want to see that your break even point is realistic, but that you are acting aggressively enough that it will not take too long.

Strategic Realignment to Affordable Care Organization Model Providers Perspective


"While physicians embark on such transformational healthcare model, their quantum of Medicare reimbursement, and its amicable distribution among themselves is sure going to be complex issue. Given such complex calculation on Medicare reimbursements and qualifying incentives, an external medical billing services that is best acquainted with Medicare environment becomes more pronounced."Browse all: physician medical billingAs time closes in on the Accountable Care Organization model of healthcare under Medicare, physicians across the US are busy realigning their practice models and alliances in congruence with the mandate of Section 3022 of the Patient Protection and Affordable Care Act (ACA). Commencing with January 2012, physician networks intending to participate in the program will be required to enter into an agreement with the Secretary to participate in the program for not less than a 3-year period, and be accountable for quality healthcare to at least 5,000 Medicare beneficiaries.

Coupled with the mandatory agreement with the Program Secretary, physicians also have an ominous task of setting up of mutually complimentary alliances among themselves that can efficiently enable division of diagnosis, treatment, and supervision of their target group of patients. Yet, incentives for keeping Medicare expenditure as minimum as possible will not be guaranteed until and unless the participation physicians:Commit themselves for evaluation vis-a-vis their ACO's patients' health needs Therefore, amidst such governing principles, the intending physicians need to realign their practices in a way that best meets the Accountable Care concept. While physicians embark on such transformational healthcare model, their quantum of Medicare reimbursement, and its amicable distribution among themselves is sure going to be complex issue.

Given such complex calculation on Medicare reimbursements and qualifying incentives, an external medical billing services that is best acquainted with Medicare environment becomes more pronounced.About - known for a healthy rapport with Medicare for more than a decade, and self-sufficient in the requisite qualification and competence, such as certification from American Association of Professional Coders (AAPC); expertise in advanced technology interface for medical billing and coding; proficiency in applying standard CPT, HCPCS procedure and supply codes, and ICD diagnosis coding as per CMS guidelines and HIPAA compliant medical reporting - should be a preferential recourse to physicians on the verge of forming Accountable Care Organization model.Browse all: medical billing companies, medical billing outsourcing