Tuesday, August 28, 2012

Six Signs of a Healthy Business Partnership

On my flight down to San Francisco this past weekend, I was reading an interesting article all about how most married couples could not fathom the concept of working together day in and day out. As I read it I had to chuckle as my husband and I have successfully ran a business together every day for the past ten years and have grown closer and have been able to build a stronger business because of our partnership.

Although we are married there are certain principles we follow that have helped us to shape a strong, productive professional partnership that hasn't broken down despite the immense amount of challenges we have faced. These six signs of great partnerships have become very apparent to me over the past few years and I hope they help you become a better partner to your partner (whether spouse or otherwise).

    They trust each other: When Dan makes a plan, I trust that he has my best interests at heart and that he has the capacity to do a great job inside his role without my interference. I don't second-guess his choices nor question every move that he makes.

    The respect each other: I don't tell him how to do his job (unless I can share some helpful input) and he doesn't tell me how to do my job. I verbally honor him in front of our colleagues and regularly express my gratitude to him for what he brings to the partnership.

    They give each other the freedom to mess up: Neither of us is perfect and both of us have made some big mistakes in the history of running our business but we are committed to letting the mistakes stay in the past and to not let them interfere with the organization's future. We don't blame, judge or criticize but work together to pick up the pieces and move forward.

    They play to their strengths. I don't try to do his job and he doesn't try to do mine. We give each other lots of space and don't attempt to manage each other. I accept who he is and the limitations he has as a leader and he does the same for me. We meet in the middle and work as a unit instead of looking at it like a who-is-the-best contest.

    They are honest with each other: Because we trust each other, we can be honest with each other when it comes to making difficult decisions. We share our doubts, fears and apprehensions with each other and don't worry about looking weak. The communication is open and we both accept that sometimes we may see things differently and have the permission to talk about it.

    They both are willing to "take one for the team": When something needs to be done that neither want to do, both are willing to do it if it is necessary. One doesn't push the dirty work to the other without being willing to do his/her fair share of work that sucks also. They strive to keep a balance and make sure that one person isn't having all the fun while the other handles all the mess.

Friday, August 24, 2012

The Production Has An Effect On Price Of Rice In Pakistan

Rice is produced by monocot seed and it is a staple food of South Asia. Most of the people from this area rely on this crop because 30% world's population meets the demand from this. The prices of Rice are different according to geographical area and this is caused by the fluctuation of currency rates in the world. The price of Rice in Pakistan also modifies with the passage of time and technology. The last monthly sales in October were made $584.74 per metric ton. Pakistan is the best country with respect to their natural resources, fertility of lands, and environment. It is very important for any country that if they want to grow more crops then it must have fertile land and availability of resources.

So Pakistan is one of the main country which has fertile land and that's why it produces enough quantity of Rice that is used for domestic purpose and rest for exports. It has 4th in number all over the world which grows best quality of Basmati. It is a cash crop after the wheat and cotton in the country. It is an annual crop which is produced in a plenty of water. In a last few decades, the association in Pakistan focuses on the promotion of the exports of rice and also tries its level best to meet the demand of a country.

There are different categories which are grown in the country and the names are; Super Basmati, Basmati Pk-385, Irri-6, and Irri-9 etc. The first two Basmati are well known all over the world due to their flavor and quality. It is labor intensive crop which required a liberal water to grow. In Pakistan, the prices have not same all over the year, it depends on the production of crop. If there is a dilemma in the supply of water and electricity, the quantity of crop declines sharply mean while there is a shortage of rice and the demand is increased. So there must be stability in the production of rice and then price will remain same.

If we look on the statistics, it shows that in April 2008, Pakistan has greatest exports $647.04 of last 5 consecutive years. Now a day the comparison shows that the sales of the Rice declines. Last year the price drops nearly 3 to 6 % due to the decrease in demand of foreign countries. There is also a huge stock available in the local market. When the condition of the environment and electricity better then the price is encouraging in the right of customer and sometimes there is an excess quantity which exports to earn a profit. Instead all of these, the people of Pakistan afford normal price against good quality of Rice.

Wednesday, August 15, 2012

Startup Enterprise Ideas - Concerns To Consult Just Before Launching A Business

Nowadays, due to the heavy workload prevailing in different industries and due to several other reasons like becoming their own boss are making people to search for startup business ideas. When a person decides to quit his job and start his own firm, he will have to ask several questions himself to decide whether he will be in a position to shine in his business in the current competitive market. Here are some the questions to find answer for before beginning a firm:

How is the product or business different from that of competitors? As most of us know, some of the buyers would have already been using a particular product under a particular brand name and most of them do not opt for trying out the product under a different brand name. For instance, if an individual decides to manufacture toothpaste, most of the people would have already been using a particular brand of toothpaste and they continuously purchase the same branded toothpaste and they hesitate to go for a new brand due to fear about mouth wellness. In such a situation, the new businessman will have to create a good impression among the consumers about his product by way of advertisement techniques and he will have to clearly explain through his ads as to how his product will be different from that of the product of his competitors.

Is there good demand for the product? Before introducing any business or product, it is essential that the individual will have to conduct a thorough market research to decide whether there will be sustainable and sufficient demand for his product or service in such a way that his business can thrive.

What is the business model? Different manufacturers engaged in the manufacture of similar type of products will have their own model and when it comes to starting up a new business, it is essential to plan about the business model (i.e.) the new entrepreneur will have to decide on the charge to be fixed for the product and he will also think whether there will be opportunities for earning additional income as compared to what he has invested in the manufacture of the product. The viability of the business model should also be analyzed and this could be done with the help of doing thorough market research about the model followed by competitors.

Once he has decided on the cost of the product, he will have to judge whether the cost is reasonable and is close to that of the product cost of his competitors. With the help of the above-mentioned startup business ideas, future entrepreneurs can create a good business organization.

Friday, August 3, 2012

Time Management for the Owners of Small Businesses

The owners of small businesses often perform the job roles of a number of employees in addition to managing the business. Many feel that the perfect day would have an hour or two extra to complete those tasks they never seem to have time for during the course of the day. Some start working six or seven days a week, becoming tired and running the risk of burnout. Effective time management can add that hour or two to your day. Implement the tips below to use your time as best you can.

Use a Diary

Using a diary allows you to see what needs to be done on particular days. While some still prefer using a pen and paper system, electronic diaries allow you to set reminders for recurring tasks and appointments. Diaries can be synchronised between your mobile phone, office PC, laptop, and various other electronic devices. Instead of realising that you have a meeting on the opposite side of town five minutes before it is due to start, set a reminder to call your attention to the meeting an hour before you have to be there.

Make a To-Do List

Making a to-do list allows you to plan your day properly. Be realistic about what you can achieve in a single day and do not make the list too long. Try to keep it to eight to ten tasks, but keep in mind that some things are more time-consuming than others. Effective planning and strategising are core business fundementals and this also applies to day-to-day activities. Integrate your to-do list with your diary. In other words, a day with three meetings should not have a long list of additional tasks. Travelling time and the expected duration of the meetings should be taken into account at the planning stage.

Prioritise Your Work Load

Prioritising your workload allows you to complete the most important tasks of the day first. Number the tasks, with number one being the most important. Aim to always complete numbers one to three. Days do not always run according to plan and knowing that the three most significant things you had planned were done will make you rest easier. Prioritising your workload cuts down on time spending procrastianting, allows you to identify unnecessary jobs, and aids you in identifying and delegating jobs you can assign to other employees.

Learn to Delegate

Effective delegation is one of the keys to successful time management. It frees you to get on with more important tasks (such as numbers one to three on your to-do list), allows you to improve communication within the business, and aid in the personal development of your staff. Business owners often feel the need to do most of the work themselves, but staff are there to assist them and should be trusted to do so. This increases their feeling of worth, shows that you have confidence in their abilities, and allows them to learn more about the business. Give clear instruction and be sure to follow up for the best results.

Wednesday, August 1, 2012

Attracting Clients Is Easy As ABC

There is it - you just made the decision to leverage your business into the one-to-many conversation by offering a workshop. You start promoting it three months ahead of time and are thrilled at the possibility of working with so many more people in your area of genius.

So, you prepare all of the materials for your workshop and put a lot of effort in getting your program down cold. You're sure that the 1,000 postcards you sent out will result in phone calls from people. As the date gets closer, panic sets in and you're frustrated because you're not getting calls. All of that time, effort and money, and nobody registers.

You thought you did everything to fill your workshop. You sent over 1,000 postcards to a targeted audience with a compelling picture on the front that gets their attention. You identified the workshop specifics, including the takeaways of the workshop on the back of your post card.

Then, comes the call to action. You put your address and phone number. However, you have left no other way for your prospect to get to know you. So unless your prospect, who has never met you before, has an urgent need, that postcard likely will find its way in the garbage.

So many business owners miss the mark in cultivating the relationship (and in combining their online and offline marketing strategies.) Even though you send out what seems to be a perfectly-timed direct mail piece, don't forget the underlying concept of sales and marketing: people do business with people they know, like and trust.

The solution to attracting clients, can be as simple as ABC - Always Be Cultivating. The post card missed out by not giving a way to connect further to nurture the relationship and build trust. The reality is many people may need to get to know you first before registering for your workshop.

Try this tried-and-true process instead:

1. On the postcard, invite them to your website where you have a free gift waiting from them. It could be an eBook, audio, or white paper. Remember to describe the outcomes they will get from your gift. In order to receive the gift, they would simply need to opt-in with their name and email. Once they download that eBook, you will have their email so that you can develop the relationship further.

2. Prior to your workshop, invite them to a free teleseminar. As they achieve small wins along the way, they will see the value in working with you. They will also have a better idea on the transformation they will experience by attending your upcoming workshop.

3. Continue to engage your prospects by connecting through social media, too.

With a carefully planned marketing mix and thought-out sales process, you will find that you convert more prospects into invested clients. When you take into consideration the entire process, filling your practice and your workshops is easy as ABC.