4 P’s in Business Success

Years of observation and some business involvement in the past have made me conclude that there are 4 P’s one needs to be constantly aware of and focused on when one is engaged in business.

Passion. The most successful businesses I have known of not only in terms of profit but also in terms of the quality of their products and services, are those born out of passion. Their business owners simply love what they do or make. It is something they can do or be focused on regardless of time. They are willing to do everything to produce their product or provide their service. And from an outsider’s perspective, these people are identified with it. It’s almost like they are synonymous with it even. Think Steve Jobs. Think Bill Gates.

Profit. Simply put, a business may be born out of passion but for it to flourish and bring in returns, one needs to think about profit. I think the challenge here is how do you maximize your resources to bring in maximum profit. This means one must always be aware of the latest trends as well as needs of one’s market or target customers/clients. One must also know about the tools and technology that can be used to understand the market better as well as how to improve profit. For instance, one may not know or understand embedded analytics but as it can be a tool to further improve one’s knowledge about one’s clients or customers then a business owner must learn about it.

People. A business owner may be the most passionate about his/her product or service and may have the best strategy and tools to gain profit for it but if he/she does not have the right people to work with, create with, I think the business will not succeed or last. The business owner needs THE best people for his/her business. As people or personnel are key in furthering and making a business last, it only makes sense that the business owner knows how to take care of them. A successful businessman once told me that happy and satisfied personnel is equal to good profit. If one does not take care of one’s personnel, it would lead to bad business and less profit (or even none!) eventually.

Perseverance. Not all days mean good business. There will be challenges at times, but success means staying on — choosing to stay on. The person behind the business always understands that not all days will be sunny in one’s business corner, but that the sunny days will eventually be around.

Pushing Forward with Online Business

The internet has changed the way people do business.

I’ve known friends who have started online businesses which includes selling items online to selling their services online (like providing their writing, web design or marketing services).

It seems to me that, thanks to the internet, starting a business has never been easier as it has been compared to, say, 5 to 10 years ago.

Now while it appears that the internet has made starting a business easier, it seems to me that people have also somehow forgotten that just like other “offline” businesses they also need to consider the importance of the following:

Creativity and originality. People who start online businesses can sometimes do it just because it’s the trend. A couple of their friends are selling stuff online and seeing that they profit from it they also decide to start their own. They fail to consider that creativity and originality matters. What sets your business apart from the others? What need is it meeting? These are questions that need to be asked.

Knowledge of the market. To go into business is to know your market. Who is buying the goods? What is the demographics of the clients or customers? What makes them choose your products? These are but just a few of the questions that one who runs an online business needs to think about.

 

Quality of products or services. My stand is if one can not provide quality services or products, one should not be in business in the first place. Okay. I can be gracious and say that they can be in business, but they should work on improving their products and services. If this is no longer possible for them then they should really consider closing shop.

Manage the business and its resources well. One can have the best products but when management is not done well, I think the business will eventually fail. The business resources would include the data that a business or a company has. As the business grows and expands, one must learn how to manage available data and use it for the best of the business or company. Check out this page to know more about data management.

Passion and profit must go together. I think that passion is key in growing a business, but one needs to be able to gain good profit from it to sustain it. And if it’s only profit that is operative word for the business then I think it will not last.

By all means, let’s be entrepreneurial and use the internet to do so but let’s not forget to do it well. No, not just well but let’s do our best.

Yes, We’re Back!

It came suddenly.

My normal blogging life came to a standstill just before I could bid good bye to January (or say hi to my birthday).

It all had to do with hosting problems. And as it all seemed complicated to me, I began thinking that perhaps it was time to say (sing) that it’s closing time for this blog.

Well, as weeks rolled on, these things made me consider to continue blogging. And that perhaps this is really not the end of this blog or of my blogging life for that matter but rather a new beginning.

So here’s to more words, more blog posts from my corner of the world to yours 🙂

3 Reasons Why Brands Would Benefit from Working with Bloggers

Before the use of the internet became more widespread, it was through the print media (newspapers, magazines) and the broadcast media (TV, radio) that we get to know about the latest brands.

There were times, of course, that the people behind these brands would do a promotional campaign by making their presence felt during major city or national events, sometimes they would even organize campaigns in malls or shops or even visit homes, offices, schools.

Well, brands can still do that. But with the advancement of technology and the internet being a regular part of our life, other avenues of brand promotion should be explored.

One major avenue for brands to reach out more people is working with bloggers. Doing so means positive benefits for the brand. Here are 3 reasons why brands would benefit in working with bloggers:

More People Accessing the Net. Even way back in 2010, a CNN article noted that based on a survey, more Americans get news from the internet as compared to TV or radio. BBC News also cited that among the younger generation, time spent online has overtaken time spent on watching TV. With more and more people across different demographics accessing the net, it is imperative for brands to establish their presence online. And one major way to do that is to work with bloggers who can help these brands be seen, read about online.

Not Limited to Just One Exposure. Think about it. If your brand has an advertisement or article written about it in a magazine or newspaper, chances are no one will really keep a copy of that magazine or newspaper for a great length of time. Hard copies of magazines, newspapers, even flyers or brochures about your brand will eventually get hidden or even thrown away somewhere. But this is not the case if you work with bloggers. If they feature your brand on their site or make a review about it, that blog post will stay present online. It can continue to be accessed through time by anyone. Your brand never really goes away but stays right there will people of all ages and backgrounds and at different times (years) can easily find it. And to ensure that your brand makes the best impact to the online world, consider the services of Nancy Behrman.

More Interactive Opportunities. Should a person see a brand on a TV advertisement, they could not readily ask information about the brand nor can they give easily give feedback. On the other hand, when a brand works with bloggers, people can directly connect with bloggers to ask information or to give feedback even by way of their blog post comments about the brand. This would help the brand’s audience or market get to know the brand better as well as give the people behind the brand the opportunity to also know the brand’s impact to the market and in how the brand could still be improved. For help not only in promoting a brand online but to also make certain that a brand continues to improve its image and presence online, enlisting the help of Behrman Communications is not a bad idea at all.

Over all, for brands to work with bloggers, it can only mean a positive step forward in bringing more brand awareness and more opportunities to further improve and grow a brand.