Software for Small Business When starting a small business, whether online or offline, it is extremely important to keep in mind what types of software will be needed to provide you with the information, record keeping abilities, productivity, comfortability, security, and management capabilities that will help you succeed. There are, literally, billions of different types of software ranging from informational to security to management types for you to choose from. It is always a key step in the early stages of forming the business to sit down and write out what needs, both current and future, will be necessary for the company to survive from a software standpoint.
Surviving the first year the small business is formed is always the hardest. Software for small business can aid you through these initial steps if you choose appropriately to match your small business needs. Depending on your type of small business there will always be a few types of ��"specialized” software needed, but there are certain types of software for small business that are common to all new companies. Let' examine the software for small business that is common to almost all new companies:
1. Accounting Software
2. Communication Software
3. Security Software
4. Database Software
5. Ecommerce Software
6. Management Software
7. Sales Software
8. Industry Specific Software
As you can see, there is a formidable amount of small business software that is considered the essentials for starting a new business in today's world. While the software listed is not in any way all the small business software you will need, it does cover the majority of the basics needed. It is important to also note that small business software is often bundled in packages where you can actually get multiple needs covered for one price.
There are many brands for each of the essential small business software needs listed above, many of which have their own unique benefits ranging from price to ease of implementation to adaptability. When looking for small business software it is always a good idea to sit down and construct a list of pros and cons for each software product to compare them before making a purchase. Going on brand name recognition alone has lead many companies astray. It is crucial to decide what your needs are first, and then to decide which of the potential small business software products best fulfills those needs. Malcolm Young is a financial services entrepreneur.. Article on software for small business, small business software, small businesses, software small businesses by Malcolm Young
Read more: http://ping.fm/OKald
Friday, October 30, 2009
Thursday, October 29, 2009
5 Small Businesses Marketing Tips
Starting a small business can be overwhelming if you’ve never done it before. You need a wide variety of skills for setting up and marketing your new business, especially if you choose to market online. Before you get started though, there are several things you might want to consider. By setting a firm foundation for your business before you build it, you’re more likely to see success. 1. Find the focus of your business. This is a primary mistake I see many small businesses make because many haven’t taken the time to really decide what is most important in their businesses. This includes determining who your customers are, what your goals are in starting a business, and what you’re trying to sell. You may also want to consider the value of your product or service for your target market, as well as how much competition you face. Although competition is good for your business, if you choose the wrong market, or you choose one that’s too competitive, like travel, you may find yourself having trouble connecting with your market at all. The lifeblood of any business is your customers, and if you fail to connect with them, or you fail to offer an appropriate solution to their problems, you can find yourself out of business fast.
1.Focus on the tasks in your business that will help you reach your goals and don’t waste time on things that won’t grow your business.
2. Know the value of your business. Price is an important issue in business, but it’s not the only factor. Quality, as well as providing an appropriate solution for your customers is also important. Use what your business offers to appropriately market your business, and consider the value of your product when pricing. If you offer physical products, the cost of making, marketing, and distributing your products is an issue. You want to make sure you correctly mark up the price of your product so that not only is it a fair price, but you also cover the cost of making your products. You should consider this BEFORE making your product.
3. Become the best in your industry. It’s not enough to know a lot about your product or service. You want to become the expert in your field. This will bring customers to you. The way to do this is to know as much as possible about your topic, which means constant educating yourself on the latest information in your industry. You also want to provide stellar customer service. This means going the extra mile to make sure your customers are satisfied with the purchases they make. Build value into your products or services and strive for constant improvement. Word travels fast on the internet, and you want others to say positive things about your business.
4. Emphasize customer care. There are many ways to do this. Providing FAQs not only helps you because it keeps you from answering the same questions over and over, but it also offers your customers additional information on your products. Answering support tickets promptly, as well as issuing refunds quickly when necessary gives your business a more professional appearance, but it also shows that you are attentive to your customers’ needs. The secret to a well run customer system is to automate your systems as much as possible, especially if you sell digital products. The way to do this is to sell your products through systems that allow you to automate the sales process so the customer is immediately taken to the product. If you sell physical products, then you’ll need to process orders as quickly as possible. Just make sure you have a system in place. Personalize your communications with customers, as well as your readers. Using autoresponders can help with this, as well as writing conversational messages that are easy to understand.
5. Design an effective marketing strategy for your business. Although I believe that every free internet marketing technique will work for every business, we’re all different, and there may be certain techniques you are more comfortable doing when first starting out. Design your marketing plan ahead of time, select the appropriate techniques to try, and then test and track those techniques to get the results you want.
1.Focus on the tasks in your business that will help you reach your goals and don’t waste time on things that won’t grow your business.
2. Know the value of your business. Price is an important issue in business, but it’s not the only factor. Quality, as well as providing an appropriate solution for your customers is also important. Use what your business offers to appropriately market your business, and consider the value of your product when pricing. If you offer physical products, the cost of making, marketing, and distributing your products is an issue. You want to make sure you correctly mark up the price of your product so that not only is it a fair price, but you also cover the cost of making your products. You should consider this BEFORE making your product.
3. Become the best in your industry. It’s not enough to know a lot about your product or service. You want to become the expert in your field. This will bring customers to you. The way to do this is to know as much as possible about your topic, which means constant educating yourself on the latest information in your industry. You also want to provide stellar customer service. This means going the extra mile to make sure your customers are satisfied with the purchases they make. Build value into your products or services and strive for constant improvement. Word travels fast on the internet, and you want others to say positive things about your business.
4. Emphasize customer care. There are many ways to do this. Providing FAQs not only helps you because it keeps you from answering the same questions over and over, but it also offers your customers additional information on your products. Answering support tickets promptly, as well as issuing refunds quickly when necessary gives your business a more professional appearance, but it also shows that you are attentive to your customers’ needs. The secret to a well run customer system is to automate your systems as much as possible, especially if you sell digital products. The way to do this is to sell your products through systems that allow you to automate the sales process so the customer is immediately taken to the product. If you sell physical products, then you’ll need to process orders as quickly as possible. Just make sure you have a system in place. Personalize your communications with customers, as well as your readers. Using autoresponders can help with this, as well as writing conversational messages that are easy to understand.
5. Design an effective marketing strategy for your business. Although I believe that every free internet marketing technique will work for every business, we’re all different, and there may be certain techniques you are more comfortable doing when first starting out. Design your marketing plan ahead of time, select the appropriate techniques to try, and then test and track those techniques to get the results you want.
Wednesday, October 28, 2009
Globally Effecting Small Businesses
Written by Shelley Godra
A small business in the United States need to be aware of the undeniable affect globalization has on their future profits. For example, when managing an Italian restaurant in Philadelphia, one must realize that there are global factors that affect the business. These factors can be affected by political, social, and economic changes. Political relations can change people’s view of Italy. Social changes can affect customer’s tastes and demands. Economic factors can affect prices of imports and in turn raise the prices of the Italian restaurant.
First, political factors can range from new regulations to country relationships. For example, new regulation has been set in place regarding the United States and Mexico. There are more immigration laws and barriers; therefore, fewer Mexican immigrants are coming into the US. This can hurt the Italian restaurant because there are fewer prospective employees that will work for low wages, and the restaurant must spend more money on its employees’ salaries. The United States and Italy currently have a good political relationship; however, if political relations changed in the future, the change may influence customer’s opinions of Italy. Customers who think less of Italy because of unfavorable relations will eat less Italian food and this would also hurt the restaurant.
Second, social changes can affect where consumers choose to eat. In the past twenty-five years, people’s tastes have changed dramatically to become more sophisticated and cultured. In order to keep up with the chic changes, the Italian restaurant may decide to incorporate a larger variety of food into its menu. The restaurant could also attract more of the sophisticated crowd by inviting a celebrity chief to come and cook one night for its customers. There have also been social changes specifically in the Philadelphian region. Two decades ago, Southern Philadelphia was inhabited with many Italians; since then the Italians have moved out to the suburbs and Southern Philadelphia is populated with other ethnic groups. This change in residents could change the kind of food demanded in the area. The restaurant can no longer assume that the population wants the traditional Italian food and, like overcoming the sophisticated class, the restaurant could offer more variety in its menu.
Finally, economic changes most often than not affect the meal prices of the restaurant. Global food shortages, specifically in Italy, due to weather could increase the prices of imports. Many of the ingredients the restaurant needs, such as olive oil, would come from Italy. Currently, our economy is not doing well, and United States residents have less disposable income. Less disposable income means less money to spend on luxury goods like eating out. Also, the price of oil has been steadily increasing in the past few years. This would deter people from driving into the city from the suburbs because gas is too expensive; this change would cause a shortage in customers.
In conclusion, there are many factors that affect managing an Italian restaurant in Philadelphia. Some factors can be controlled, however, global factors are outside our reach of influence. Global factors such as political, economic, and social changes can hurt an Italian restaurant in Philadelphia by creating higher priced imports, less employees, and less customers. Some of these changes can be overcome by offering new food options and keeping up with what the consumers want.
A small business in the United States need to be aware of the undeniable affect globalization has on their future profits. For example, when managing an Italian restaurant in Philadelphia, one must realize that there are global factors that affect the business. These factors can be affected by political, social, and economic changes. Political relations can change people’s view of Italy. Social changes can affect customer’s tastes and demands. Economic factors can affect prices of imports and in turn raise the prices of the Italian restaurant.
First, political factors can range from new regulations to country relationships. For example, new regulation has been set in place regarding the United States and Mexico. There are more immigration laws and barriers; therefore, fewer Mexican immigrants are coming into the US. This can hurt the Italian restaurant because there are fewer prospective employees that will work for low wages, and the restaurant must spend more money on its employees’ salaries. The United States and Italy currently have a good political relationship; however, if political relations changed in the future, the change may influence customer’s opinions of Italy. Customers who think less of Italy because of unfavorable relations will eat less Italian food and this would also hurt the restaurant.
Second, social changes can affect where consumers choose to eat. In the past twenty-five years, people’s tastes have changed dramatically to become more sophisticated and cultured. In order to keep up with the chic changes, the Italian restaurant may decide to incorporate a larger variety of food into its menu. The restaurant could also attract more of the sophisticated crowd by inviting a celebrity chief to come and cook one night for its customers. There have also been social changes specifically in the Philadelphian region. Two decades ago, Southern Philadelphia was inhabited with many Italians; since then the Italians have moved out to the suburbs and Southern Philadelphia is populated with other ethnic groups. This change in residents could change the kind of food demanded in the area. The restaurant can no longer assume that the population wants the traditional Italian food and, like overcoming the sophisticated class, the restaurant could offer more variety in its menu.
Finally, economic changes most often than not affect the meal prices of the restaurant. Global food shortages, specifically in Italy, due to weather could increase the prices of imports. Many of the ingredients the restaurant needs, such as olive oil, would come from Italy. Currently, our economy is not doing well, and United States residents have less disposable income. Less disposable income means less money to spend on luxury goods like eating out. Also, the price of oil has been steadily increasing in the past few years. This would deter people from driving into the city from the suburbs because gas is too expensive; this change would cause a shortage in customers.
In conclusion, there are many factors that affect managing an Italian restaurant in Philadelphia. Some factors can be controlled, however, global factors are outside our reach of influence. Global factors such as political, economic, and social changes can hurt an Italian restaurant in Philadelphia by creating higher priced imports, less employees, and less customers. Some of these changes can be overcome by offering new food options and keeping up with what the consumers want.
Tuesday, October 27, 2009
Remote Working: Turning Them Into Us
*found on BNET
By: Wayne Turmel
The problem with team-building (remote or co-located) is that sometimes it feels like you’re trying really hard to be a good teammate, but other people are letting you down - it feels like it’s not you, it’s "them".
Whether "they" are head office, our guy in Birmingham or that inscrutable group in Bangalore, it’s impossible to create a truly effective team unless you start thinking us. We develop trust when our goals, motives and competencies are aligned. But when you are miles apart, how can managers ensure people are pulling in the same direction?
Without getting all soppy, here are some tips for helping create stronger ties between team members.
Who are these people?
Studies have shown that when you have a visual picture of someone, you immediately begin to form a tighter bond with them. Putting faces to names is an important part of how we assess the strength of information we receive, whether we can trust people and whether we want to make an effort to work closely with them.
Hint:
Find a place to post photos on your intranet, social networking site (NING or Facebook are free) or just send out pictures (preferably candid but non-incriminating) periodically so that people know who they are dealing with.
What’s their problem?
Humans are naturally suspicious creatures. When faced with a lack of hard evidence, they tend to make things up - and it’s seldom the best-case scenario (it's nature’s way of helping you avoid becoming someone’s lunch). Why did she miss that deadline? Obviously she’s an idiot, is a prime example. Of course, most people are not idiots, but when lacking information to the contrary, it’s just easier to make that assumption. Constant updates and honest feedback on how projects are progressing and what challenges teammates face will keep people in the loop and encourage active assistance rather than reactive situations where the deadline passes and panic ensues.
Hint:
Encourage people to post regularly to discussion boards and social network sites, where the first person or best person to answer can help. When you get an individual message from a team member with a problem or question, suggest they post to the group site. This is better than just bombarding people with emails because they won’t have to hunt for the file or wonder if they are reading the latest version. You also get a small piece of your life back.
I have no idea how they got that job
Did you know that idiot in your New York office has an advanced degree from the same university that rejected you? Or that she worked on a high-level project before winding up on your team? Knowing the backgrounds of your teammates is often helpful, not just for creating human connections but knowing to whom you should turn for answers.
Hint:
Post profiles of your team members where people can find them, and make sure that all new members provide a profile on their first day of work. Besides education and credentials, personal information like whether or not you have children, your hobbies and whether you work from home or an office are all important.
What do they do all day?
One of the biggest causes of mistrust in remote teams is waiting for information and assuming it’s being withheld for some reason. We sent the request why don’t they respond? The simple fact could be that they are busy with something else, or they don’t know you’re waiting for that response, tapping your foot and calling them names. It could be the middle of the night where they are and dragging themselves out of bed to give you that piece of information just never occurred to them. Whatever the reason, it helps if we know what others are working on and have a clear indication of their priorities.
Hint:
Take time at the beginning of a team meeting, teleconference or Webmeeting for updates. If you work as part of a large team, this might take up too much time, so try showcasing one person, team or location for each meeting. A client of mine in the non-profit sector regularly rotates meeting-host duties to showcase individual team members. Each host offers an update on their work.
It’s just easier for me (the manager) to do it
You’ve been there. A team member asks for a piece of information, or the latest version of something that another team member elsewhere has sent. You could tell them that’s why you have shared drives and they can find it on the SharePoint group site you spent so much time and money on, but it’s the path of least resistance to just stop what you’re doing and re-send it. Stop that, you’re enabling bad habits.
Hint:
When someone requests the latest version of a piece of group work, take the time to send a polite but firm note to remind them where that information resides. You might even suggest that they contact the teammate responsible for that information directly and just let you know how that works out for them.
Use good old people skills to augment technology if you want to facilitate human contact and develop trust in your team. It will dramatically increase the return on your investment.
By: Wayne Turmel
The problem with team-building (remote or co-located) is that sometimes it feels like you’re trying really hard to be a good teammate, but other people are letting you down - it feels like it’s not you, it’s "them".
Whether "they" are head office, our guy in Birmingham or that inscrutable group in Bangalore, it’s impossible to create a truly effective team unless you start thinking us. We develop trust when our goals, motives and competencies are aligned. But when you are miles apart, how can managers ensure people are pulling in the same direction?
Without getting all soppy, here are some tips for helping create stronger ties between team members.
Who are these people?
Studies have shown that when you have a visual picture of someone, you immediately begin to form a tighter bond with them. Putting faces to names is an important part of how we assess the strength of information we receive, whether we can trust people and whether we want to make an effort to work closely with them.
Hint:
Find a place to post photos on your intranet, social networking site (NING or Facebook are free) or just send out pictures (preferably candid but non-incriminating) periodically so that people know who they are dealing with.
What’s their problem?
Humans are naturally suspicious creatures. When faced with a lack of hard evidence, they tend to make things up - and it’s seldom the best-case scenario (it's nature’s way of helping you avoid becoming someone’s lunch). Why did she miss that deadline? Obviously she’s an idiot, is a prime example. Of course, most people are not idiots, but when lacking information to the contrary, it’s just easier to make that assumption. Constant updates and honest feedback on how projects are progressing and what challenges teammates face will keep people in the loop and encourage active assistance rather than reactive situations where the deadline passes and panic ensues.
Hint:
Encourage people to post regularly to discussion boards and social network sites, where the first person or best person to answer can help. When you get an individual message from a team member with a problem or question, suggest they post to the group site. This is better than just bombarding people with emails because they won’t have to hunt for the file or wonder if they are reading the latest version. You also get a small piece of your life back.
I have no idea how they got that job
Did you know that idiot in your New York office has an advanced degree from the same university that rejected you? Or that she worked on a high-level project before winding up on your team? Knowing the backgrounds of your teammates is often helpful, not just for creating human connections but knowing to whom you should turn for answers.
Hint:
Post profiles of your team members where people can find them, and make sure that all new members provide a profile on their first day of work. Besides education and credentials, personal information like whether or not you have children, your hobbies and whether you work from home or an office are all important.
What do they do all day?
One of the biggest causes of mistrust in remote teams is waiting for information and assuming it’s being withheld for some reason. We sent the request why don’t they respond? The simple fact could be that they are busy with something else, or they don’t know you’re waiting for that response, tapping your foot and calling them names. It could be the middle of the night where they are and dragging themselves out of bed to give you that piece of information just never occurred to them. Whatever the reason, it helps if we know what others are working on and have a clear indication of their priorities.
Hint:
Take time at the beginning of a team meeting, teleconference or Webmeeting for updates. If you work as part of a large team, this might take up too much time, so try showcasing one person, team or location for each meeting. A client of mine in the non-profit sector regularly rotates meeting-host duties to showcase individual team members. Each host offers an update on their work.
It’s just easier for me (the manager) to do it
You’ve been there. A team member asks for a piece of information, or the latest version of something that another team member elsewhere has sent. You could tell them that’s why you have shared drives and they can find it on the SharePoint group site you spent so much time and money on, but it’s the path of least resistance to just stop what you’re doing and re-send it. Stop that, you’re enabling bad habits.
Hint:
When someone requests the latest version of a piece of group work, take the time to send a polite but firm note to remind them where that information resides. You might even suggest that they contact the teammate responsible for that information directly and just let you know how that works out for them.
Use good old people skills to augment technology if you want to facilitate human contact and develop trust in your team. It will dramatically increase the return on your investment.
Monday, October 26, 2009
Evaluating three find-an-adviser websites
Before deciding where to wine and dine your significant other, chances are you will take a gander at a restaurant review or two online.
These days, a plethora of review sites and tools have made the Internet most people's first stop when shopping for restaurants, cars and almost everything else.
Although still in their infancy, similar websites all created by entrepreneurial financial advisers have sprung up to help investors find or evaluate financial professionals.
These sites include EvaluateMyAdvisor.com, fabeetle.com, and financeanswers.com, as well as a fourth due to launch next month. (The founders of that site prefer that it remain unnamed until the launch date is closer.)
Industry leaders and advisers, though optimistic about the future of such sites, are skeptical about how much real value they deliver to consumers now.
Investors are questioning things more than ever before, so it is natural that you would see people coming up with sites like these, said Financial Planning Association president Richard Salmen, who is also senior vice president of GTrust Financial Partners. The firm manages $400 million in assets.
Conceptually I like the idea of these sites. I hardly buy anything that I don't go out on the web and research, but what worries me about [the sites] is that it is extremely difficult to quantify or convey the overall value of what a good adviser provides, only part of which is investing, Mr. Salmen said.
Other advisers applaud the attempts, though they say that the sites need more work.
There hasn't really been anything like this [EvaluateMyAdvisor] before; it is a good shot across the bow of our industry, but I don't see this or any of these sites as the end-all. Hopefully they will evolve, said Dennis Nolte, a senior wealth adviser with Partners Wealth Management, which manages $90 million in assets.
He said that in the case of EvaluateMyAdvisor, its analytical ability seemed a bit limited. But when asked if he would like to see similar tools available from LPL Financial, his broker-dealer, Mr. Nolte wholeheartedly agreed.
It would be great to have similar tools to allow us to be better armed and ready when discussions of performance come up, he said.
I looked at the websites mentioned; below is a brief overview and some basics about each:
EVALUATEMYADVISOR.COM
Founder: Norman Pappous, most recently a Merrill Lynch & Co. Inc. financial adviser.
Inspiration: The low level of investment knowledge displayed by wirehouse advisers.
Overview: Amazed by the skill of the quant jocks he worked with on the institutional side of the business, Mr. Pappous was dismayed when he switched to retail. The site is his attempt to provide small investors with an analytical approach to deciding whether an adviser is adding to or subtracting from the value of their portfolios. After inputting historic return data or persuading an adviser to do it an investor will get back a paper report detailing how his returns compared with a benchmark, based on the asset allocation model he had agreed to with his adviser.
Cost: $500 for a performance report.
Pros: This is the first attempt I am aware of to package such a service for retail investors. If nothing else, it should prompt advisers to think about how to share or better interpret and illustrate their performance to clients.
Cons: This isn't a site your average Grandma is going to grasp (not yet anyway). It needs more detail and a better basic description of its mechanics. I would suggest adding two explanatory sections to the How it Works pages, one for investors and one for advisers.
FABEETLE.COM
Founder: Brandon Gadoci, who most recently worked for Raymond James & Associates Inc.
Inspiration: Mr. Gadoci said that he was sick to death of cold calling, seminars and networking breakfasts and wanted to find a creative way to bring advisers and clients together.
Overview:Once out of beta, the site will provide users with advanced-search capabilities that can match them up with advisers based on criteria such as years of experience, proximity, types of products or advice being sought, etc. Revenue will come from premium features, including tools that allow advisers to receive client query results that include them, use the platform to connect with clients and generate investment proposals.
Cost: None for now. Once fully launched, premium services will cost between $15 and $30 a month.
Pros: An attractive and engaging site design. It already has attracted a lot of attention through its use of social media, including Facebook, LinkedIn and Twitter. Mr. Gadoci said that the site is close to its goal of enlisting 1,500 beta users to flesh out and test its services.
Cons: Reaching a critical mass of advisers will be key to the site's success.
FINANCEANSWERS.COM
Founder and CEO: Brian Robertson, an adviser with Ackley Financial Group Inc.
Inspiration: The Madoff scandal led Mr. Robertson to wonder if a website where investors could find straightforward information on investing and advisers as well as second opinions on both could avert such conflagrations in the future.
Overview: The site provides lists of investment questions and answers that can be added to by investors and advisers, who also can post their own questions. Advisers who claim their profile on the board Mr. Robertson has the names and locations of 20,000 advisers and firms, gathered from various public sources can also set up a blog and post to it once they have updated their profile.
Cost: Free.
Pros: The site has the potential to become an unbiased repository of investment information. It also won't hurt an adviser's search engine results if they flesh out their profiles on the site.
Cons: It remains largely a blank slate waiting to be filled in by both potential clients and advisers. The site's creators deserve kudos for their intent to provide investors with a place to publish anonymous ratings of advisers.
But the feature could mean trouble for the site's owners from regulatory bodies such as the Financial Industry Regulatory Authority Inc. and the Securities and Exchange Commission over potential compliance issues, not to mention from disgruntled and/or litigious advisers.
E-mail Davis D. Janowski at djanowski@investmentnews.com.
These days, a plethora of review sites and tools have made the Internet most people's first stop when shopping for restaurants, cars and almost everything else.
Although still in their infancy, similar websites all created by entrepreneurial financial advisers have sprung up to help investors find or evaluate financial professionals.
These sites include EvaluateMyAdvisor.com, fabeetle.com, and financeanswers.com, as well as a fourth due to launch next month. (The founders of that site prefer that it remain unnamed until the launch date is closer.)
Industry leaders and advisers, though optimistic about the future of such sites, are skeptical about how much real value they deliver to consumers now.
Investors are questioning things more than ever before, so it is natural that you would see people coming up with sites like these, said Financial Planning Association president Richard Salmen, who is also senior vice president of GTrust Financial Partners. The firm manages $400 million in assets.
Conceptually I like the idea of these sites. I hardly buy anything that I don't go out on the web and research, but what worries me about [the sites] is that it is extremely difficult to quantify or convey the overall value of what a good adviser provides, only part of which is investing, Mr. Salmen said.
Other advisers applaud the attempts, though they say that the sites need more work.
There hasn't really been anything like this [EvaluateMyAdvisor] before; it is a good shot across the bow of our industry, but I don't see this or any of these sites as the end-all. Hopefully they will evolve, said Dennis Nolte, a senior wealth adviser with Partners Wealth Management, which manages $90 million in assets.
He said that in the case of EvaluateMyAdvisor, its analytical ability seemed a bit limited. But when asked if he would like to see similar tools available from LPL Financial, his broker-dealer, Mr. Nolte wholeheartedly agreed.
It would be great to have similar tools to allow us to be better armed and ready when discussions of performance come up, he said.
I looked at the websites mentioned; below is a brief overview and some basics about each:
EVALUATEMYADVISOR.COM
Founder: Norman Pappous, most recently a Merrill Lynch & Co. Inc. financial adviser.
Inspiration: The low level of investment knowledge displayed by wirehouse advisers.
Overview: Amazed by the skill of the quant jocks he worked with on the institutional side of the business, Mr. Pappous was dismayed when he switched to retail. The site is his attempt to provide small investors with an analytical approach to deciding whether an adviser is adding to or subtracting from the value of their portfolios. After inputting historic return data or persuading an adviser to do it an investor will get back a paper report detailing how his returns compared with a benchmark, based on the asset allocation model he had agreed to with his adviser.
Cost: $500 for a performance report.
Pros: This is the first attempt I am aware of to package such a service for retail investors. If nothing else, it should prompt advisers to think about how to share or better interpret and illustrate their performance to clients.
Cons: This isn't a site your average Grandma is going to grasp (not yet anyway). It needs more detail and a better basic description of its mechanics. I would suggest adding two explanatory sections to the How it Works pages, one for investors and one for advisers.
FABEETLE.COM
Founder: Brandon Gadoci, who most recently worked for Raymond James & Associates Inc.
Inspiration: Mr. Gadoci said that he was sick to death of cold calling, seminars and networking breakfasts and wanted to find a creative way to bring advisers and clients together.
Overview:Once out of beta, the site will provide users with advanced-search capabilities that can match them up with advisers based on criteria such as years of experience, proximity, types of products or advice being sought, etc. Revenue will come from premium features, including tools that allow advisers to receive client query results that include them, use the platform to connect with clients and generate investment proposals.
Cost: None for now. Once fully launched, premium services will cost between $15 and $30 a month.
Pros: An attractive and engaging site design. It already has attracted a lot of attention through its use of social media, including Facebook, LinkedIn and Twitter. Mr. Gadoci said that the site is close to its goal of enlisting 1,500 beta users to flesh out and test its services.
Cons: Reaching a critical mass of advisers will be key to the site's success.
FINANCEANSWERS.COM
Founder and CEO: Brian Robertson, an adviser with Ackley Financial Group Inc.
Inspiration: The Madoff scandal led Mr. Robertson to wonder if a website where investors could find straightforward information on investing and advisers as well as second opinions on both could avert such conflagrations in the future.
Overview: The site provides lists of investment questions and answers that can be added to by investors and advisers, who also can post their own questions. Advisers who claim their profile on the board Mr. Robertson has the names and locations of 20,000 advisers and firms, gathered from various public sources can also set up a blog and post to it once they have updated their profile.
Cost: Free.
Pros: The site has the potential to become an unbiased repository of investment information. It also won't hurt an adviser's search engine results if they flesh out their profiles on the site.
Cons: It remains largely a blank slate waiting to be filled in by both potential clients and advisers. The site's creators deserve kudos for their intent to provide investors with a place to publish anonymous ratings of advisers.
But the feature could mean trouble for the site's owners from regulatory bodies such as the Financial Industry Regulatory Authority Inc. and the Securities and Exchange Commission over potential compliance issues, not to mention from disgruntled and/or litigious advisers.
E-mail Davis D. Janowski at djanowski@investmentnews.com.
Friday, October 23, 2009
Doctors voice fears over flu phoneline...
*found on Euronews 24
By: TOM
* See...not just here...
LONDON - An overwhelming majority of doctors fear that infections and serious diseases could be missed because swine flu is being diagnosed over the phone, a poll showed Wednesday.
Nearly 90 percent of 251 general practitioners questioned by GP newspaper fear that conditions such as tonsilitis or bronchitis and potentially fatal illnesses such as meningitis may be overlooked.
The swine flu hotline was launched to reduce pressure on doctors because Britain has more cases of the virus than any other country in Europe, with an estimated 110,000 new cases a week for the past two weeks.
About half of people being diagnosed with swine flu are receiving their diagnosis over the telephone by staff without medical training who work from a checklist of symptoms.
But one doctor said it was blindingly obvious that a telephone diagnosis will very rarely, but very significantly, miss an alternative diagnosis which could lead to severe morbidity or mortality.
Another commented: The symptoms are so vague and wide-ranging, swine flu can masquerade as a vast array of other diseases.
More than 30 people have died from the A virus in the country, although almost all had pre-existing serious health problems.
By: TOM
* See...not just here...
LONDON - An overwhelming majority of doctors fear that infections and serious diseases could be missed because swine flu is being diagnosed over the phone, a poll showed Wednesday.
Nearly 90 percent of 251 general practitioners questioned by GP newspaper fear that conditions such as tonsilitis or bronchitis and potentially fatal illnesses such as meningitis may be overlooked.
The swine flu hotline was launched to reduce pressure on doctors because Britain has more cases of the virus than any other country in Europe, with an estimated 110,000 new cases a week for the past two weeks.
About half of people being diagnosed with swine flu are receiving their diagnosis over the telephone by staff without medical training who work from a checklist of symptoms.
But one doctor said it was blindingly obvious that a telephone diagnosis will very rarely, but very significantly, miss an alternative diagnosis which could lead to severe morbidity or mortality.
Another commented: The symptoms are so vague and wide-ranging, swine flu can masquerade as a vast array of other diseases.
More than 30 people have died from the A virus in the country, although almost all had pre-existing serious health problems.
Wednesday, October 21, 2009
Mobile Applications Transform the Financial Adviser
*found on Practice Management Center
By: André Guillemin
Mobile financial applications are redefining the way financial planners do their jobs by enabling them to operate from any location, using only a mobile device. No laptops. No pagers. No searching for wireless hotspots.
How It Works
Top-of-the-line mobile financial software aggregates data from different IT systems to provide access to all of your client and account information-along with market data, stock quotes and news-no matter where that information lives or what software you use at the office.
Also, it is designed to meet the needs of financial professionals who operate in client-facing positions, so it is built specifically for mobile devices and uses the phone's best functions, like messaging, calling and mapping.
What that means is that a mobile application on your BlackBerry, iPhone or Windows Mobile device allows you to see your client's information as well as communicate with them. You are no longer flying blind when you reach out to a client from outside the office.
Why It's Important
Stiff competition for consumers' time and trust combined with volatile financial markets has made it increasingly difficult for financial planners to prove their value. Like never before, financial planners are challenged to outperform the competition, tighten client relationships, assure perfect service and generate new accounts. All this requires an intense focus on client-facing activities.
In volatile times, it is tempting to stay in the office, hold down the fort and man the phones. Twenty years ago, that was a good strategy, because it was the only way an adviser could be there for his or her clients in stressful times. But in today's world, planners can have their cake and eat it too. They can get out into their communities and meet with their clients face-to-face while being available to receive or return calls.
Beyond Data
In addition to connecting financial planners to their data, mobile technology provides features and functions that save time and help users keep track of the details that bombard them on a daily basis. A game-changing capability of mobile financial applications is that advisers can use alerts to help them reach out to clients in ways that are timely and appropriate. Alerts can be set to notify advisers of virtually anything, including substantial changes in asset allocation, new industry research or events, changes in securities ratings and upcoming deadlines. Reminders can also be set for client information like birthdays and anniversaries, or planning processes such as quarterly and annual reviews.
Where sales and prospecting are concerned, financial planners can quickly perform simple activities that keep the sales process moving forward, like sending sales literature, providing an immediate quote or answering a detailed question. Mobility breaks down information barriers and helps people buy when they are ready to buy, not "later, when my assistant gets back to me" or "after I pick up that document at the office." Without losing momentum, the adviser can say, "Great! Let's move forward."
Mobile Security
One of the issues that always comes into play when "finance" and "mobility" are used in the same sentence is security. Contrary to public perception, mobile devices are very secure, and there are a number of things that software companies can do to enhance the basic security functions built into the devices themselves. One of the major ways they can do it is by using real-time data systems so that no data is actually stored on the device. Everything is transmitted over the air-so if you misplace your smart phone, there is no data on it to steal.
Although it may seem scary to be carrying around a device that connects you to sensitive client information, it is actually a very safe way to go. Surely, a BlackBerry that is fully encrypted and password-protected is a thousand times safer than carrying hard copies of client statements around in your briefcase.
As mobile devices take over the market, the use of mobile financial software is increasing exponentially and will continue to do so. Faster networks and more intuitive devices will only fuel that trend, and advisers who embrace mobile technology will see changes in the way they run their practices that enhance customer service and productivity.
André Guillemin is the senior manager of market development at Pyxis Mobile Inc. He is a specialist in mobile technology, specifically in applications for the financial services industry. Prior to Pyxis Mobile, Guillemin worked as a financial adviser at Smith Barney. Contact him at aguillemin@pyxismobile.com.
By: André Guillemin
Mobile financial applications are redefining the way financial planners do their jobs by enabling them to operate from any location, using only a mobile device. No laptops. No pagers. No searching for wireless hotspots.
How It Works
Top-of-the-line mobile financial software aggregates data from different IT systems to provide access to all of your client and account information-along with market data, stock quotes and news-no matter where that information lives or what software you use at the office.
Also, it is designed to meet the needs of financial professionals who operate in client-facing positions, so it is built specifically for mobile devices and uses the phone's best functions, like messaging, calling and mapping.
What that means is that a mobile application on your BlackBerry, iPhone or Windows Mobile device allows you to see your client's information as well as communicate with them. You are no longer flying blind when you reach out to a client from outside the office.
Why It's Important
Stiff competition for consumers' time and trust combined with volatile financial markets has made it increasingly difficult for financial planners to prove their value. Like never before, financial planners are challenged to outperform the competition, tighten client relationships, assure perfect service and generate new accounts. All this requires an intense focus on client-facing activities.
In volatile times, it is tempting to stay in the office, hold down the fort and man the phones. Twenty years ago, that was a good strategy, because it was the only way an adviser could be there for his or her clients in stressful times. But in today's world, planners can have their cake and eat it too. They can get out into their communities and meet with their clients face-to-face while being available to receive or return calls.
Beyond Data
In addition to connecting financial planners to their data, mobile technology provides features and functions that save time and help users keep track of the details that bombard them on a daily basis. A game-changing capability of mobile financial applications is that advisers can use alerts to help them reach out to clients in ways that are timely and appropriate. Alerts can be set to notify advisers of virtually anything, including substantial changes in asset allocation, new industry research or events, changes in securities ratings and upcoming deadlines. Reminders can also be set for client information like birthdays and anniversaries, or planning processes such as quarterly and annual reviews.
Where sales and prospecting are concerned, financial planners can quickly perform simple activities that keep the sales process moving forward, like sending sales literature, providing an immediate quote or answering a detailed question. Mobility breaks down information barriers and helps people buy when they are ready to buy, not "later, when my assistant gets back to me" or "after I pick up that document at the office." Without losing momentum, the adviser can say, "Great! Let's move forward."
Mobile Security
One of the issues that always comes into play when "finance" and "mobility" are used in the same sentence is security. Contrary to public perception, mobile devices are very secure, and there are a number of things that software companies can do to enhance the basic security functions built into the devices themselves. One of the major ways they can do it is by using real-time data systems so that no data is actually stored on the device. Everything is transmitted over the air-so if you misplace your smart phone, there is no data on it to steal.
Although it may seem scary to be carrying around a device that connects you to sensitive client information, it is actually a very safe way to go. Surely, a BlackBerry that is fully encrypted and password-protected is a thousand times safer than carrying hard copies of client statements around in your briefcase.
As mobile devices take over the market, the use of mobile financial software is increasing exponentially and will continue to do so. Faster networks and more intuitive devices will only fuel that trend, and advisers who embrace mobile technology will see changes in the way they run their practices that enhance customer service and productivity.
André Guillemin is the senior manager of market development at Pyxis Mobile Inc. He is a specialist in mobile technology, specifically in applications for the financial services industry. Prior to Pyxis Mobile, Guillemin worked as a financial adviser at Smith Barney. Contact him at aguillemin@pyxismobile.com.
Tuesday, October 20, 2009
Advisors’ Job Attitude, Outlook Improves
*found on FA-MAG
A new survey reveals that independent RIAs have seen their level of job satisfaction rise 10% and the number with an optimistic outlook for the U.S. economy has climbed by 25% over the past three months, according to a survey released by TD Ameritrade Institutional. Half of the 500 RIAs surveyed gave a top rating (9 or 10) to their satisfaction with their job, up from about 40% three months ago.
Advisors seem to have felt more needed over the last year and this contributes to a higher level of job satisfaction, says Brian Stimpfl, managing director of advisor advocacy and industry affairs at TD Ameritrade. People are seeing the other side of this terrible cycle and that’s drawing out some more positive feelings.
A favorable business environment is also contributing to their upbeat attitudes, Stimpfl says. Nine out of ten RIAs say their network of clients is up or remained flat over the last six months, while less than 10% report losing clients.
Wirehouses and full-commission brokerages accounting for 72% of new assets, according to the RIAs surveyed. This finding dovetails with TD Ameritrade Institutional’s own experience. What we see in ACATs [full-account transfers] is that 67% are coming from full-account channels, Stimplfl says.
Some advisors view this as an opportunity to go on the offensive, he adds. Fully 70% of the RIAs surveyed avoided cost-cutting in the past quarter and 19% increased spending.
A new survey reveals that independent RIAs have seen their level of job satisfaction rise 10% and the number with an optimistic outlook for the U.S. economy has climbed by 25% over the past three months, according to a survey released by TD Ameritrade Institutional. Half of the 500 RIAs surveyed gave a top rating (9 or 10) to their satisfaction with their job, up from about 40% three months ago.
Advisors seem to have felt more needed over the last year and this contributes to a higher level of job satisfaction, says Brian Stimpfl, managing director of advisor advocacy and industry affairs at TD Ameritrade. People are seeing the other side of this terrible cycle and that’s drawing out some more positive feelings.
A favorable business environment is also contributing to their upbeat attitudes, Stimpfl says. Nine out of ten RIAs say their network of clients is up or remained flat over the last six months, while less than 10% report losing clients.
Wirehouses and full-commission brokerages accounting for 72% of new assets, according to the RIAs surveyed. This finding dovetails with TD Ameritrade Institutional’s own experience. What we see in ACATs [full-account transfers] is that 67% are coming from full-account channels, Stimplfl says.
Some advisors view this as an opportunity to go on the offensive, he adds. Fully 70% of the RIAs surveyed avoided cost-cutting in the past quarter and 19% increased spending.
Monday, October 19, 2009
Carpal Tunnel Symptom Relief The Good and the Bad
*found on Finance News Today
by Tom Nicholson
You probably don’t even want to hear those words carpal tunnel syndrome. You’ve either heard about the condition or know someone who has the condition, and you have heard it is a nightmare to do battle with. And without preventative maintenance, you may think you are in line to get the condition as well. If you are an athlete, an office worker or a construction worker who repeats an action with your hands, then you may just be right.
We tend to take our hands for granted and assume we will always have the use of them. We don’t mind when we get a minor cut or burn since our hands can really take a beating and keep on working. The fact is that our hands are invaluable to use. We depend on them to help us complete an endless number of everyday tasks. For those that need their hands to perform their work, they are even more valuable. It is a good idea to take more action to take better care of our hands since they are so important.
But what is carpal tunnel syndrome and how does it affect our hands? Carpal tunnel syndrome is a painful condition that starts off with tingling, numbness or cold feeling in the hands. These symptoms can also be present in the forearm and elbow depending on the amount of time the symptoms have been present. For some people, even loss of functionality in the hands and fingers can result, causing temporary loss in productivity at the job and possibly even weeks of rehabilitation? Other conditions may occur if you adjust your body to ease the pressure on your wrists such as back pain, neck pain or even shoulder pain.
Carpel tunnel syndrome will occur when a nerve that runs the entire length of the arm, the median nerve, becomes compressed at the wrist. The compression happens when the transverse carpal ligament becomes tight under pressure. This ligament is important because it allows for maneuverability of the hands by binding nerves and ligaments together at the wrist. If the hands are not kept loose and free of stress, there will likely be discomfort of pain in the area. Fortunately there are some habits that can be acquired that will prevent this from taking place.
While some people may consider surgery for carpal tunnel pain, you may want to think twice. After all, the procedure does involve severing the transverse carpal ligament in the hopes that it will relieve the stress on the median nerve. While it does tend to give immediate pain relief, the lasting effects are unknown and can be devastating if not properly considered.
The one principle that should be considered when looking for relief from carpel tunnel pain, is how it can be done in a non-invasive and natural way. The first thing to look at is your eating and exercise habits. If your body is getting the proper nutrients it will be able to fight the effects of the carpel tunnel syndrome more effectively. Think about taking a few extra breaks while you are working in order to your hands a chance to rest. In addition to these steps, stretch and loosen you your wrist occasionally to keep them from becoming overly stressed. It will help to shake the hands occasionally to keep the blood flowing to the hands and fingers. Last but not least, good posture is critical when trying to prevent carpel tunnel syndrome.
About the Author:
If you have persistent signs and symptoms that might be due to CTS that interfere with your normal activities including sleep see your physician. If you leave the condition untreated, nerve and muscle injury can occur. Click to visit carpal tunnel exercises first option to do.
by Tom Nicholson
You probably don’t even want to hear those words carpal tunnel syndrome. You’ve either heard about the condition or know someone who has the condition, and you have heard it is a nightmare to do battle with. And without preventative maintenance, you may think you are in line to get the condition as well. If you are an athlete, an office worker or a construction worker who repeats an action with your hands, then you may just be right.
We tend to take our hands for granted and assume we will always have the use of them. We don’t mind when we get a minor cut or burn since our hands can really take a beating and keep on working. The fact is that our hands are invaluable to use. We depend on them to help us complete an endless number of everyday tasks. For those that need their hands to perform their work, they are even more valuable. It is a good idea to take more action to take better care of our hands since they are so important.
But what is carpal tunnel syndrome and how does it affect our hands? Carpal tunnel syndrome is a painful condition that starts off with tingling, numbness or cold feeling in the hands. These symptoms can also be present in the forearm and elbow depending on the amount of time the symptoms have been present. For some people, even loss of functionality in the hands and fingers can result, causing temporary loss in productivity at the job and possibly even weeks of rehabilitation? Other conditions may occur if you adjust your body to ease the pressure on your wrists such as back pain, neck pain or even shoulder pain.
Carpel tunnel syndrome will occur when a nerve that runs the entire length of the arm, the median nerve, becomes compressed at the wrist. The compression happens when the transverse carpal ligament becomes tight under pressure. This ligament is important because it allows for maneuverability of the hands by binding nerves and ligaments together at the wrist. If the hands are not kept loose and free of stress, there will likely be discomfort of pain in the area. Fortunately there are some habits that can be acquired that will prevent this from taking place.
While some people may consider surgery for carpal tunnel pain, you may want to think twice. After all, the procedure does involve severing the transverse carpal ligament in the hopes that it will relieve the stress on the median nerve. While it does tend to give immediate pain relief, the lasting effects are unknown and can be devastating if not properly considered.
The one principle that should be considered when looking for relief from carpel tunnel pain, is how it can be done in a non-invasive and natural way. The first thing to look at is your eating and exercise habits. If your body is getting the proper nutrients it will be able to fight the effects of the carpel tunnel syndrome more effectively. Think about taking a few extra breaks while you are working in order to your hands a chance to rest. In addition to these steps, stretch and loosen you your wrist occasionally to keep them from becoming overly stressed. It will help to shake the hands occasionally to keep the blood flowing to the hands and fingers. Last but not least, good posture is critical when trying to prevent carpel tunnel syndrome.
About the Author:
If you have persistent signs and symptoms that might be due to CTS that interfere with your normal activities including sleep see your physician. If you leave the condition untreated, nerve and muscle injury can occur. Click to visit carpal tunnel exercises first option to do.
Friday, October 2, 2009
Some Fine Marketing Points…..
*found on Business Intel
Defining Marketing
Marketing was given birth during times when selling can no longer make a very good company stay financially afloat even though it already have very good product.
Everybody who is into reading books will positively agree that they have encountered the saying, A picture is worth a thousand words."
Actually, from a writer's point of view, a picture is worth a thousand words from a single angle of perspective so thus, business. Business in modern practice varied but there are general ways of looking at it from different angles.
In my opinion, business should be conducted from the point of view of Marketing. Well, let's start from the basics, knowing who and what are involved in the dynamics of doing business.
1. Point of view a stand point. A mental position from which things are viewed.
Marketing Point no. 1
a. It is how things around us are seen from a personal observation. 2. Marketing the commercial processes involved in promoting and selling and distributing your product or service.
Marketing Point no. 2
a. Conducting business with regards to what the prospective buyer of a product expects.
b. Catering the matching of such needs and goods between the seller and the buyer for a smooth, continuous business exchange.
c. If a person is engaged in catering the need expectation of a buyer by matching the advantage difference of a seller's product that person is on the act of marketing.
d. Caters the need of prospective buyers by having sellers promote and advertise their product interests or welfare of prospective buyers.
e. Making business activity focus on the need of the buyer in order for the seller to promote and sell his/her product for a profit. **
3. Product Commodities offered for sale.
Marketing Point no. 3
a. A good, an idea, a service offered to fill in a need in exchange for a fee.
4. Buyer A person who buys.
Marketing Point no. 4
a. A person who wants to have what he/she needs in exchange for a fee.
b. An intelligent person who knows what he/she wants, knows when, where and from whom to buy a product that satisfies his/her expectations, may it be a need or a want.
5. Seller someone who exchanges goods or services for money.
Marketing Point no. 5
a. A person wants to sell a good, offer for a fee his/her service or just sells his ideas.
6. Need anything that is necessary but lacking.
Marketing Point no. 6
a. A desire for basic gratification of a necessity.
b. Every living thing has a need. It is something that a living being cannot live without.
There are two kinds of needs.
a. Basic Needs. These are the necessities in life.
Example:
1. Food
2. Shelter
3. Clothing
b. Expressed need. These needs are in one way or another evolved from the security of having a normal satisfaction of basic needs. These are the needs any person expects to have. In short, wants.
Example:
1. Gourmet
2. State of the art mansion
3. Fashion (Designer's Clothes)
7. Advertiser someone whose business is advertising.
Marketing Point no. 7
a. Some who make known that a product exists or available for sale.
b. A person whose business is to broadcast in any media the existence of a product; may it be a good, service or ideas.
8. Promoter someone who is an active supporter or advocate.
Marketing Point no. 8
a. A person who is persuading the prospective buyers the advantage difference of a good, service, or idea of a particular seller against other seller's products.
b. A person who is in the business of promoting a seller's product for a fee.
9. Distributor
Marketing Point no. 9
a. A person who provides the means for the seller to physically distribute his/her products for a fee.
10. Business As defined by the Oxford dictionary is an activity of providing goods and services, involving financial, commercial and industrial aspects.
Marketing Point no. 10
a. It is the act of offering goods, ideas or services to the buyer for exchange with the intention to earn profit.
The Bigger Picture
Business is an activity of exchange that facilitates needs.
It can be conducted at the point of view of the Seller or it can be facilitated at the vantage point of catering the needs of the client.
The question is which point of view will be more beneficial in light of continuous business cycle.
Sources:
* Oxford Dictionary
**Plain and Simple: The Truth about Marketing
By: Joefel Cagampang
Dr. Len Schwartz
Defining Marketing
Marketing was given birth during times when selling can no longer make a very good company stay financially afloat even though it already have very good product.
Everybody who is into reading books will positively agree that they have encountered the saying, A picture is worth a thousand words."
Actually, from a writer's point of view, a picture is worth a thousand words from a single angle of perspective so thus, business. Business in modern practice varied but there are general ways of looking at it from different angles.
In my opinion, business should be conducted from the point of view of Marketing. Well, let's start from the basics, knowing who and what are involved in the dynamics of doing business.
1. Point of view a stand point. A mental position from which things are viewed.
Marketing Point no. 1
a. It is how things around us are seen from a personal observation. 2. Marketing the commercial processes involved in promoting and selling and distributing your product or service.
Marketing Point no. 2
a. Conducting business with regards to what the prospective buyer of a product expects.
b. Catering the matching of such needs and goods between the seller and the buyer for a smooth, continuous business exchange.
c. If a person is engaged in catering the need expectation of a buyer by matching the advantage difference of a seller's product that person is on the act of marketing.
d. Caters the need of prospective buyers by having sellers promote and advertise their product interests or welfare of prospective buyers.
e. Making business activity focus on the need of the buyer in order for the seller to promote and sell his/her product for a profit. **
3. Product Commodities offered for sale.
Marketing Point no. 3
a. A good, an idea, a service offered to fill in a need in exchange for a fee.
4. Buyer A person who buys.
Marketing Point no. 4
a. A person who wants to have what he/she needs in exchange for a fee.
b. An intelligent person who knows what he/she wants, knows when, where and from whom to buy a product that satisfies his/her expectations, may it be a need or a want.
5. Seller someone who exchanges goods or services for money.
Marketing Point no. 5
a. A person wants to sell a good, offer for a fee his/her service or just sells his ideas.
6. Need anything that is necessary but lacking.
Marketing Point no. 6
a. A desire for basic gratification of a necessity.
b. Every living thing has a need. It is something that a living being cannot live without.
There are two kinds of needs.
a. Basic Needs. These are the necessities in life.
Example:
1. Food
2. Shelter
3. Clothing
b. Expressed need. These needs are in one way or another evolved from the security of having a normal satisfaction of basic needs. These are the needs any person expects to have. In short, wants.
Example:
1. Gourmet
2. State of the art mansion
3. Fashion (Designer's Clothes)
7. Advertiser someone whose business is advertising.
Marketing Point no. 7
a. Some who make known that a product exists or available for sale.
b. A person whose business is to broadcast in any media the existence of a product; may it be a good, service or ideas.
8. Promoter someone who is an active supporter or advocate.
Marketing Point no. 8
a. A person who is persuading the prospective buyers the advantage difference of a good, service, or idea of a particular seller against other seller's products.
b. A person who is in the business of promoting a seller's product for a fee.
9. Distributor
Marketing Point no. 9
a. A person who provides the means for the seller to physically distribute his/her products for a fee.
10. Business As defined by the Oxford dictionary is an activity of providing goods and services, involving financial, commercial and industrial aspects.
Marketing Point no. 10
a. It is the act of offering goods, ideas or services to the buyer for exchange with the intention to earn profit.
The Bigger Picture
Business is an activity of exchange that facilitates needs.
It can be conducted at the point of view of the Seller or it can be facilitated at the vantage point of catering the needs of the client.
The question is which point of view will be more beneficial in light of continuous business cycle.
Sources:
* Oxford Dictionary
**Plain and Simple: The Truth about Marketing
By: Joefel Cagampang
Dr. Len Schwartz
Subscribe to:
Posts (Atom)
