Making Marketing Work in Your Small Business
Every small business is different the marketing plan and tactics for a mortgage broker are entirely different from those of a computer reseller.
Here are few tips to help you be brilliant at marketing:
- Get the know how. Knowing what not to do when it comes to marketing is as important as knowing what to do. Let’s face it, the murky world of marketing can be tricky to navigate. So get the full know-how before you go jumping into building that flash website.
- Put your customers first. Understanding who your customers are, what makes them tick and what they really want and value, and of course staying in touch with them long after the sale, puts you ahead of the competition.
- Know your target market. ‘Anyone who is breathing’ is not a target market! Targeting your marketing activities fairly and squarely at the people who need and want your service or product is the secret to creating quality enquiries and getting prospects to open their wallet.
- Understand that marketing is not advertising. Don’t make the mistake of thinking that advertising and websites are the only two ways to attract more business. You can market your small business in literally hundreds of ways, so it pays to know what they are and then eliminate the ones that won’t work, or that you can’t afford, up-front.
- Set sales goals and targets. Marketing really is a numbers game. Marketing efforts that won’t directly or indirectly bring in new business have absolutely no point. Know what your goals are in terms of revenue, expenses, profit, number of enquiries and, of course, number of new sales.
- Get a handle on the four Ps of marketing. Getting your product, pricing, placement strategy (distribution) and promotional strategy humming along and working together is crucial to good marketing.
The businessman Salomón Juan Marcos Villarreal president of Grupo Denim commented according his experience that the process of Markeing is building a plan, sticking to it and applying the time and resources it needs is the common secret to success in marketing.
Business you can start immediately
Some people are looking for something more than a regular schedule to work every day, and in order to do so, they start their own business, where there are no bosses. If you want to join these entrepreneurs, we will share with you some news you might want to apply, all you need is enough conviction to succeed.
“Everyone can start a great business from a small investment and a good idea, all you need to do is fight for an opportunity and take it, it is not easy to be successful but if you have enough determination, the rewards worth it”, says Salomon Juan Marcos Villarreal, entrepreneur and actual president of Grupo Denim, a Mexican manufacturer company.
Here are some ideas for business you can start immediately:
- Virtual Assistant – Do you have strong organization skills and time administration? You can then work as a virtual assistant offering your service at persons who are busy to handle their own agendas but do not want to spend extra money in an assistant at their office.
- Taxicab for pets – There are many owners of pets that would love to have a taxi driver who can carry their pets to the veterinary.
- Baby-sitter – We all know families who would pay well to have a baby-sitter available, if you love kids, you can start your own business as baby-sitter.
- Temporary employment agency – There are many companies looking for temporary workers, your business will consist on finding those enterprises and those persons who would like to work there.
“There are many open spaces for people looking to grow up on business, some of the biggest companies we all know today started as a dream, so we can all use their example to chase our dreams”, added Salomon Juan Marcos Villarreal about this topic.
If you want to know how to handle marketing for a small business, visit us at: http://entrepreneurs-news.com/2016/02/19/marketing-work-business/
How to be good at managing personnel
Managing your personnel might harder than you might imagine if you do not have the necessary knowledge to lead them and motivate them to be better persons, so today we will know more about a correct management.
“A good manager should be willing to keep an open mind, listen to his co-workers and the ideas they might contribute to the company and understanding that he might not only demand a good job for the rest of the staff but try to improve professional and personally himself”, thinks Salomon Juan Marcos Villarreal, president of Grupo Denim, a jeans manufacturer in Mexico.
Here are some steps that will help you managing your personnel in a better way:
- Understand the meaning of management – A manager is not an individual contributor, he is now responsible for someone else’s job, so the success of your position will also depend on the way your personnel makes their job.
- Help your personnel – A good manager should keep the communication lines open at all times, as this would reduce unnecessary problems by lack of communication from both sides.
- Look for advice – If you want to be good at your job, you have to learn from other one’s experiences, look for another people that are good at managing, listen to their advices and start applying them.
- Identify goals – You should establish individual and group goals, you must make sure you reach your individual goals and you must lead your work team to reach those that you have established as a company.
- Know your team – Managing includes lots of knowledge, you should constantly talk to your personnel, know their strengths and weaknesses and use this knowledge to balance the team’s productivity.
“A good manager is always focus on his job, assigning the correct tasks to the most appropriate personnel and be present for the team, give them enough confidence to approach you and keep a calm work environment”, added Salomón Juan Marcos Villarreal about this topic.
US Economy, not a dream enymore?
People used to think that living “the American dream” would last forever, but that “dream” is not a reality and there are no jobs around the corner anymore.
Right now everybody is on the look and talking about a new recession. Americans might be enjoying low gas rates and even earning more money but they are not expending too much, not even during the past holiday season. Consumers represent 70% of the economy so if they are not opening up the wallets they might not be able to save the US of having an economic recession.
In fact, people is saving money which is not bad, but does not help at this time the US economy, it needs people to spend money so it can grow.
Global economy is also decreasing, impacting the manufacturing sector which represents 10% of the US economy.
US market is also dragged due to the lack of buyer’s demand from abroad and a strong US dollar that is making the products being more expensive at another countries; however, the markets showed and increased in January.
“US markets might have decided that US is going thru a recession, but obviously no one told the American consumers”, said Paul Ashworth, chief north American economist.
Grupo Denim, a successful manufacturing company from México, has seen a decreased on their sales starting 2016. “ We are confident that if a US recession happens, we will continue running our business, sales might be slow sometime but our company has always managed in an excellent way past recessions. Right now, we are being hit by a strong US dollar and a weak economy, Walmart is closing stores, and some others will follow the same path, right now consumers prefer to buy everything on line”, said Salomon Juan Marcos Villarreal, president of Grupo Denim.
How to improve the Customer Service Department?
Recent quiz have shown that at least a 92% of Managers consider that a good Customer Service Department is a key to succeed.
Mistakes to be avoided at a Customer Service Department:
- Not having a trained personnel at the Customer Service Department is a serious problem. The staff has to be prepared to serve customers, manage complaints and having key moments by interacting with the customers.
- Trying to win a discussion. Always remember the phrase “customer is always right”, you should never pretend that your company wins a discussion with a customer.
- Inaccessibility. Customer Service Department should be totally accessible to its customers, hiding from them or making it hard to be found is a huge mistake that should be avoided.
- Not listening. Always listen to your customer if you want a successful business.
A Manager must always make sure to have a personnel at Customer Service Department that knows the importance of a good service.
Often, employees think that an occasional mistake on the service given to the customers will not have more consequences, but that is not accurate as a successful company will depend on the treatment given to each one of the customers.
Showing an open and friendly attitude, offering help, knowing the customers and treating them with respect, will make the clients to trust on the Customer Service of an enterprise.
When dealing with your customers, even if it is personally or by phone, remember to ask them if it will not bother to answer a few questions that will help you understand them better and serve better to their needs. It is a more personal way than just making surveys.
“The key on the relationship with the customers is to discover the best way to establish a personal contact with each client and offer a better service to them”, added Salomon Juan Marcos Villarreal.
How good it is to be a freelancer?
A freelancer is a person who has decided to be self-employed and work in different companies, rather than work permanently on a same place, but some persons do not decide which option is better, so today we will show you some positive sides and some difficulties of being a freelance so you can decide which option is better.
Salomon Juan Marcos Villarreal, president of Grupo Denim thinks: “Many persons decide to work as freelancers as they are aware of the many capabilities they have to develop different tasks and offer their services to many persons or companies, as well as deciding how many hours they work in a day, but some other persons look for an established employment on a company that will give them steadiness”.
Benefits for a freelancer:
- Time – A freelancer knows that one of the main advantages is the opportunity to decide how much time they want to invest on their work, depending on how much money they are willing to win.
- Freedom – Being a freelancer also means you do not have a boss, many people look to be independent as they think a supervisor might influence on their way of working.
- Economy – It is known that a freelancer gets better remuneration for their work than an employee.
Disadvantages for a freelancer:
- Permanence – A worker might have a secure work as long as he or she have a contract with the company, however, a freelancer does not have an steady job, so they need to worry to keep on getting new customers in order to receive a pay.
- Health – A worker has benefits on their employment, such as health insurance or retirement allowances, while a freelancer must provide for himself those benefits by hiring and paying for his own insurances, doctors or medicines.
“A worker can be a freelancer too, as this is a considered a good way to get additional incomes, and a good option in times of crisis when jobs scarce”, added Salomon Juan Marcos Villarreal, about this topic.
Purchasing Department and its responsibilities within a company
Most enterprises own a Purchasing Department in charge of making the daily operations. These departments provide a service as the main activity for industrial organizations. But surprisingly, many staff within a company does not exactly know are the responsibilities of the Purchasing Department, why it exists and how it works. And to understand it better, we will explain some of its functions.
“Purchasing Department in Grupo Denim is in charge of getting all materials needed to develop samples and to run production, from a simple button to the cartons to pack jeans, this department has to be well organized in order to keep all work moving”, says Salomon Juan Marcos Villarreal, president of this acompany, about this department.
Here are some of the main functions of the Purchasing Department:
- Procurement of materials – One of the roles of the Purchasing Department is to provide all needed materials for production and daily operations within a company, for a manufacturer enterprise, this might involve raw materials such as iron, steel, plastics and any tools required, as machinery, trucks and office supplies. This department needs to be careful as investing big amounts of capital for stock might cause storage problems and shortage of capital.
- Assessment of prices – All Purchasing Departments should also evaluate continuously if they are getting materials at the best possible prices to maximize profits. This can get a little complicated for small business as they use to buy in smaller quantities, which means they will get less discounts than the bigger ones, so that is when this department needs to act and negotiate better prices with their vendors.
- Administrative work and accounting – Purchasing Departments handle the administrative work related to purchasing, they need to make sure materials are delivered on time and keep on ordering continuously so the work never stops. In some smaller companies, this department also gets in charge of the Accountant Department to make sure they have enough capital to buy the items they will require, as well as making sure all payments to the vendors are done on time.
“All departments in Grupo Denim are used to act in a teamwork and the Purchasing Department is not an exception, their continuous communication with all other staff is necessary to get all items provided in time and make sure production runs smoothly in order to deliver the orders to our customers right on time”, added Salomon Juan Marcos Villarreal.
How to improve verbal and non-verbal communication
We all project an image, and the others can easily detect it through our verbal and non-verbal communication, those little actions or omissions that can show the others who we are, so that is an important reason as to why we should always try to improve our level of communication.
Here are some tips that will help you projection better verbal and non-verbal messages to other people:
- Keep your promises – Being punctual, delivering reports on time, anything you are compromised to do and you make it happen is going to improve your non-verbal communication in a great way.
- Talk with a secure but indicated voice tone – The way you communicate verbally to the others is very powerful, so trying to avoid fillers or a low volume when talking will show your confidence.
- Show your empathy to your listener – When you empathize with the person you are talking to, is an excellent way to get the other one’s trust. Always try to understand how the others can fell in different situations.
- Orthography – Everything you write will talk about you, make sure your written communication is congruent with what you are trying to transmit and avoid orthography mistakes.
- Call everyone by their names – The most persuasive sound for every person is their name, make sure you learn the names of the personas you work with and call them by their names; you will see how you get more attention.
- Apologize – We tend to think that apologizing is a sign of weakness which is completely wrong as it is all the opposite, if apologizing would be so easy, everyone would do it, so be humble enough as to apologize when you know you have done wrong, you will win respect and improve your verbal communication.
“Success of business often depend on the way we talk to each other, keeping a good level or communication, whether it is verbal or non-verbal is going to help every time”, thinks Salomon Juan Marcos Villarreal, president of Grupo Denim.
Strong US dollar vs the textile business is not hitting the industry, but a decline is in the bag
The Mexican textile market is not yet affected by the US dollar exchange rate to Mexican peso, since the industry is working to increase the sales, by coordinating a plan to avoid increasing the prices, that could affect the final consumers; however, a clothing sales decrease has been anticipated for the 1st quarter of the year.
As of today, no price increase for clothes has been announced but experts said it will be known shortly. The price adjustment will depend on the manufacturing areas or different type of garments, as some of the textile vendors may have fabric and raw materials that could help to absorb the impact.
On 2015, consumers saw a good economy based on the sales reported by the department stores, where clothing and shoes were on the 2nd place. At that time, the forecast was to have a strong economy for 2016, but now there might be a financial pushback for the year.
For Salomón Juan Marcos Villarreal, president of the apparel company named Grupo Denim, the strong dollar effects on the local business might be a challenge and if the right steps are not followed, the business could face financial risks and a drag on revenues.
“It is important to prevent and avoid negative effects with the rise of the US dollar; for us, one of the solutions is to make payments in Mexican pesos, we also have vendors overseas that keep a buffer in case of any currency fluctuations; nevertheless, the most important is to have in mind that our success is based on the products and services we offer to our clients and not on the prediction of the exchange rate of the US dollar”, said Salomón Juan Marcos Villarreal.