Category Archives: business

7 Levers of Business

This taken from 7leversofbusiness

1. Traffic
– advertise
– get leads/traffic
– from events,

2. Opt-Ins
– convert leads to real prospect
– phone/email queries, subscription
– offer something free to get in touch/follow up
– get minimum info – name, email or phone

3. Conversions
– testimonials
– guarantees
– money back
– payment options
– strong brand
– ask for the sale

4. Items per Sale
– offer add-ons – (e.g. date entry, website building)
– package the deal

5. Average Sale Price
– increase price. – give more value
– be a market leader

6. Transactions per Customer
– recurring bills
– repeat sales.
– sales other things – membership, info product
– sales same things again

7. Profit Margin
– decrease cost
– nego with suppliers
– improve product line. push for high margin products
– reduce expenditure
– reduce staff, automate things, find partners

Increase small percentage on each level will contribute significant improvement in business profit.

Internet marketing and sales

Steps for doing sales and marketing on the internet.

  1. Set several advertisement online – classifieds, google adwords, facebook ads
  2. Let the visitors land on the squeeze page and leave their email address. In return, provide free tips, free report
  3. Set at least 5 autoresponders to send out the promised report and tips to build credibility
  4. Send subscribers to a sales page to sell products
  5. Send subscribers to other recommended products as well
  6. Anyway don’t just sell, give also valuable free information
  7. Once in a while, can also broadcast email for some good news (normally more free information, tools and promotions)

Books for startups

Some books recommended for startups and entrepreneurs.

  1. Crush It – Gary Vaynerchuk
  2. The Small Army Strategy – Srinivas Rao
  3. Think like a rock star – Mack Collier
  4. Blogging the smart way – Jeff Bullas
  5. The Lean Startup – Eric Ries
  6. 4 hour workweek – Tim Ferriss
  7. Rework – Jason Fried
  8. Secrets for Blogging Your Way to a six figure income – Darren Rowse, Chris Garrett, Problogger
  9. The $100 Startup – Chris Guillebeau
  10. The Art of the Start – Guy Kawasaki

Read detail reviews for each

2 simple tips to success

Go this from my recent reading and thing this is helpful in many ways.

1. Stick to what you do – don’t always change mind, stick to what you do, believe in it and go for it

2. Be different – be outstanding, be different. In term of design, the way you do things, the way you communicate, be transparent, don’t hide, be honest etc etc.

Communicate clearly

An important skill to master is communicate clearly in simplest form possible. You can write maybe 3 paragraph to explain on something but you have option just to write maybe 2 sentences to cover what you want to deliver.

Something that you need to consider when writing.

1. Level of understanding on the recipient side. It varies among different people. So try to suit them.

2. Use shorter sentence

3. Re-read before send and try to make it even simpler. Remove the unnecessary. Simplify the rest.

When you can master this skill, your message will become clearer to the recipient. Less problem will raise because of misunderstanding or even not understand at all.

Eliminate worries

To eliminate worries, find answers to this 4 questions on any problem you face. Ask people you know to do the same.

1. What is the problem?

2. What is the CAUSE of the problem?

3. What are ALL possible solutions to the problem?

4. What solution do you suggest?

Good support service

Information Technology is popular as a service industry. The support is the most important activity.

Some of important practice on email support.

  1. Reply promptly. Not 2 days after or ignore it.
  2. If cannot settle issue immediately, give some estimation when to revert
  3. Use short and simple words. Can save time and also can avoid grammar mistakes
  4. Whenever possible, use numbering or bullet to show separation of points

Blue Ocean Strategy – Overview

I’m now reading the Blue Ocean Strategy book. Below are some important notes that I can capture from the book.

Difference between substitute and alternative
– substitute – different product, same function
– alternative – different function, same purpose

Value innovation – key factor in blue ocean
– new innovation that creates value to the customers yet reduce cost to the supplier

6 principles of blue ocean strategy

FORMULATION PRINCIPLES
1. Reconstruct market boundaries
2. Focus on big picture not the numbers
3. Reach beyond existing demand
4. Get the strategic sequence right

EXECUTION PRINCIPLES
5. Overcome key organizational hurdles
6. Build execution into strategy

Analytical Tools and Framework

  1. Strategy canvas
  2. Four actions framework
  3. Eliminate-Reduce-Raise-Create grid (ERRC)
  4. 3 characteristics of good strategy (focus, divergence, compelling tagline)

 

Staff quality

Some of the quality that all staffs should have.

  • High productivity and result oriented
  • Committed and have sense of responsibility
  • Great communication skill with team members and customers
  • Know how to prioritize
  • Proactive, starter and can initiate new things
  • Critical thinker