All Fortunes Begin with an Idea!Written by Damien Senn
A new idea is merely combination of two or more old ideas. The creation of a new idea is critical first step in establishing any business. People who dream of setting up their own business but don’t succeed, generally fall into one of three categories: (1)too few ideas (2)too many ideas or (3)waiting for ‘perfect idea’. Any of these three states of mind may hinder budding entrepreneur. ‘Would be entrepreneurs’ with too few ideas. These individuals typically say “if only I had ‘an idea’ for a business.” Just remember that if you say you don’t have ‘an idea’ it really means you have ‘no-idea’! If this applies to you, you need to get cracking on that ‘first idea’ fast! As soon as you are able to dream something up, you’ll have essential ingredient that all successful businesses are built upon. ‘Would be entrepreneurs’ with too many ideas. Can you ever have ‘too many ideas’ I hear you say? Well if your creative process leaves you feeling overwhelmed for choice then it’s definitely a possibility! Many highly creative people experience inertia in business purely because they have so many ideas. They don’t know where to start or which idea to implement first! If you fall into this category, just pick one of your ideas (it doesn’t need to be your best one!) and begin to mentally develop it further. Consider first key steps you need to take to push your business idea forward. Remember that you don’t have to have a 100 page business plan or a fully formed idea before you can start taking action! All you need is a little focus. ‘Would be entrepreneurs’ waiting for perfect idea. This is equivalent of expecting to know how to swim once you’ve found perfect swimming costume. If you fall into this category, even if you do manage to find ‘perfect idea’, ask yourself whether or not you are going to have right skill base to get it off ground. Many successful entrepreneurs have failed many times before their ‘perfect idea’ came along. It is through being prepared to fall down and stand up again that you develop tenacity required to succeed in business.
| | CRM 101: Customer Relationship Management for BeginnersWritten by Scott Hawksworth
Customer Relationship Management, abbreviated “CRM,” is term for a business strategy that is designed to improve customer service. CRM is also designed to increase customer satisfaction and gain new customers, thus increasing a business’ revenue. CRM is a term that can be applied to software and an entire business strategy.How Does CRM Work? Essentially, CRM works by gathering information about customers and analyzing information collected. An example of this would be supermarket discount cards (I.E. Kroger Plus Cards, ACME cards, Giant Eagle cards, etc...). When a consumer scans his or her card, and then his or her items, items that customer bought are entered into a database. This gives businesses an accurate idea of which customers buy what. Businesses then analyze this information. After analyzing data collected, businesses can adjust their marketing campaigns and increase sales. Customer Relationship Management brings company closer to customer. CRM closes a “relationship gap” that can be formed between business and its customers. CRM is also useful for customer service. Businesses can use automated CRM applications to analyze customer complaints, or compliments, and change business processes accordingly. Interestingly enough, CRM products also run many automated call-centers for businesses (I.E. customer service systems). CRM applications and practices are used to make businesses more efficient and improve customer satisfaction. What Can a Business Gain From Using CRM? There are many goals that businesses have when implementing CRM techniques and applications. The business wants to improve customer service, which will subsequently improve customer satisfaction. The business also wants to maximize revenue by advertising right products to right people. In other words, businesses want to know what customers want. Once a business finds what a customer wants through a CRM method, business can then provide customer exactly what he or she desires. This will lead to returning customers, and gaining of new customers. CRM processes also are designed to monitor all of contact between customers and companies. Maintaining a positive relationship with one’s customers is an essential element in business. Well-rounded CRM works to ensure that this element exists.
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