Characteristics of Today's Thriving Companies
Characteristics of Today's Thriving Companies
Technology & Power Networks
The firms that are thriving today are using technology to quickly establish and grow relationships. The internet, with all its power and speed, has enabled the best companies to manage a massive number of client relationships with ease. Consider how many people can be reached through online video, podcasts, webinars, and long-distance teleconferencing. Even a small firm can build international relationships if they take the time to understand technology and its diverse uses.
This capability has led to the creation of Power Networks - hundreds or even thousands of high-end professionals who work together to increase each other's wealth and influence. Consider Amazon.com which continues to improve its financial standing - up more than 30% over the last two quarters. The company thrives because it leverages technology to manage a massive database of users and buyers.
Eliminating Intermediaries & Establishing New Distribution Channels
Today's thriving companies are evaluating the opportunity to purchase or even eliminate middlemen and streamline distribution. China has become a powerhouse in product development and many companies are now using Chinese firms to handle not only manufacturing but packaging and shipping as well.
Customization
As companies get better at using technology and customer data, they are able to customize products and services to fit the needs of specific consumers. Dell Computer is an excellent example. They allow customers to establish specifications for their own computer. Dell takes a couple days (or less) to build the computer and ship it out when it is done. The company has done well even in the recession. When I last checked their performance, they were up 9% year over year.
Merging Markets
The fences that once kept companies relegated to one geographic boundary or one type of product or service are dissipating. Disney, once just a player in cartoons and theme parks, has created a global conglomerate that now includes cruises, retail stores, major motion films, hotels, and education. Disney's revenue was up 7% year over year, a good performance in light of the size of the company and the difficult economy.
What can you do to take advantage of these trends? First, make sure you are using technology to your advantage. Your website should be a place where people can initiate or continue building a relationship with you. Once that process has begun, make sure client data is placed in a CRM system and that you have processes in place to move them up the sales ladder. Second, use your data to strengthen your relationships with customized product offerings. Finally, analyze the strengths of your firm and consider branching out into other markets.
Characteristics of Todays Thriving Companies - To learn more about this author, visit Bill Tamminga's Website.
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While there is a shortage of cash for many firms today, others are making more than enough to survive. What are the characteristics of the companies that thrive? What are they doing that others are not? Most importantly, can you duplicate these characteristics into your business?
Technology & Power Networks
The firms that are thriving today are using technology to quickly establish and grow relationships. The internet, with all its power and speed, has enabled the best companies to manage a massive number of client relationships with ease. Consider how many people can be reached through online video, podcasts, webinars, and long-distance teleconferencing. Even a small firm can build international relationships if they take the time to understand technology and its diverse uses.
This capability has led to the creation of Power Networks - hundreds or even thousands of high-end professionals who work together to increase each other's wealth and influence. Consider Amazon.com which continues to improve its financial standing - up more than 30% over the last two quarters. The company thrives because it leverages technology to manage a massive database of users and buyers.
Eliminating Intermediaries & Establishing New Distribution Channels
Today's thriving companies are evaluating the opportunity to purchase or even eliminate middlemen and streamline distribution. China has become a powerhouse in product development and many companies are now using Chinese firms to handle not only manufacturing but packaging and shipping as well.
Customization
As companies get better at using technology and customer data, they are able to customize products and services to fit the needs of specific consumers. Dell Computer is an excellent example. They allow customers to establish specifications for their own computer. Dell takes a couple days (or less) to build the computer and ship it out when it is done. The company has done well even in the recession. When I last checked their performance, they were up 9% year over year.
Merging Markets
The fences that once kept companies relegated to one geographic boundary or one type of product or service are dissipating. Disney, once just a player in cartoons and theme parks, has created a global conglomerate that now includes cruises, retail stores, major motion films, hotels, and education. Disney's revenue was up 7% year over year, a good performance in light of the size of the company and the difficult economy.
What can you do to take advantage of these trends? First, make sure you are using technology to your advantage. Your website should be a place where people can initiate or continue building a relationship with you. Once that process has begun, make sure client data is placed in a CRM system and that you have processes in place to move them up the sales ladder. Second, use your data to strengthen your relationships with customized product offerings. Finally, analyze the strengths of your firm and consider branching out into other markets.
Characteristics of Todays Thriving Companies - To learn more about this author, visit Bill Tamminga's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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