These myths have cost companies billions of dollars in wasted payroll money.
Myth #1) Structure spoils spontaneity.
I once attended a two-day long disaster that easily cost over $40,000. Thirty people spent the first hour seeking an issue to discuss, then spent the next 15 hours arguing over insolvable problems. When I asked the manager who called the meeting, "Where's the agenda?" the reply was, "I didn't want to spoil the spontaneity by imposing a structure."
Reality: If spontaneity were a universally sound business practice we would build buildings without blueprints. Of course, no smart business leader works without a plan.
The Fix: Set a goal and then prepare an agenda. Ideally, this agenda should be so clear, complete, and specific that someone else could use it to lead the meeting to obtain the accomplish the goal.
Myth #2: Since it's my meeting I should do all the talking.
Some meetings are run like a medieval court. The chairperson sits on a verbal throne while the subjects sit in respectful silence. The big talker justifies this by thinking: if the other people in the meeting knew anything worthwhile, they'd be leading the meeting.
Reality: If you're the only one talking, you're working too hard. In addition, realize that most people protect themselves from extended monologues by sending their thoughts off on a holiday. That is, no one is paying attention to you: they're busy daydreaming, doodling, or dreaming.
The Fix: Convey large amounts of information by a memo or email. Then call a meeting based on participant driven activities that test or reinforce comprehension.
Myth #3: Meetings are free.
Most meetings are paid for with soft money. That is, it's money that has already been spent for wages. In addition, no purchase request is necessary. No budget needs to be approved. All someone has to do is call a meeting.
Reality: Meetings are very expensive. They use people's time, and payroll is the largest part of running a business. When people hold bad meetings, they waste the most important resource in a business - the time people that spend working to earn a profit for the company.
The Fix: Design meetings to earn a profit. After all, a meeting is a business activity, not a company picnic.
dinsdag 18 augustus 2009
vrijdag 14 augustus 2009
3 Tips For Choosing A Payment Gateway: Collecting Money Online
As a consumer, when you check out of your local convenience store, you may swipe your credit card through a point-of-sale device and your gas, coffee, and donut are paid. But what if you are the retailer and your business is online? It’s not like you have a card-swiping device at every customer’s PC! There must be a way for you to process that information. Essentially, that is the job that a payment gateway does for online retailers. Roy Banks, president of http://Authorize.net, a leader in the payment gateway industry, describes his company’s function as “the digital version of a hardware point of sale terminal.”
What is a Payment Gateway?
Payment gateways allow online merchants such as eStore owners or auction sellers to accept credit card payments over the internet. They authorize the cardholder’s credit—that is, they check to ensure that the customer has enough money on their credit card to cover the charges. They then place a hold on that amount so the buyer can’t turn around and spend that same money elsewhere before it gets transferred to the retailer’s merchant account. Banks describes this as “the technology…necessary to consummate a payment transaction.”
A Payment Gateway is NOT a Merchant Account.
Many people confuse merchant accounts with payment gateways but they are not the same. Merchant account services act, for the most part, as a liaison between your business bank account and the payment gateway. When a customer orders a product from your online business their card is processed via the payment gateway. The money is then moved over to the merchant account service. The merchant account service then moves those newly captured funds to your business bank account.
3 Tips for choosing a Payment Gateway:
1. Is it PCI-compliant? That means that the company’s security has been audited by a third party and found to be up to industry standards. Since payment gateways store all your customers’ credit card information (sparing you the stress), it also means you can sleep better at night, knowing your customers’ valuable information is safe and sound.
2. Good customer support. ‘Nuf said.
3.Lastly, it is important that the payment gateway you choose be integrated to the third-party solutions you are planning to use. That means things like store front platforms and shopping carts—you want them to be compatible with your gateway.
Payment gateways will not only allow you to collect the monies from your sales, many also offer an array of security features, some of which will help you avoid becoming a victim of fraudulent orders! In the end, they will make your ecommerce business a less-stressful, more pleasant experience—for both you and your customers.
What is a Payment Gateway?
Payment gateways allow online merchants such as eStore owners or auction sellers to accept credit card payments over the internet. They authorize the cardholder’s credit—that is, they check to ensure that the customer has enough money on their credit card to cover the charges. They then place a hold on that amount so the buyer can’t turn around and spend that same money elsewhere before it gets transferred to the retailer’s merchant account. Banks describes this as “the technology…necessary to consummate a payment transaction.”
A Payment Gateway is NOT a Merchant Account.
Many people confuse merchant accounts with payment gateways but they are not the same. Merchant account services act, for the most part, as a liaison between your business bank account and the payment gateway. When a customer orders a product from your online business their card is processed via the payment gateway. The money is then moved over to the merchant account service. The merchant account service then moves those newly captured funds to your business bank account.
3 Tips for choosing a Payment Gateway:
1. Is it PCI-compliant? That means that the company’s security has been audited by a third party and found to be up to industry standards. Since payment gateways store all your customers’ credit card information (sparing you the stress), it also means you can sleep better at night, knowing your customers’ valuable information is safe and sound.
2. Good customer support. ‘Nuf said.
3.Lastly, it is important that the payment gateway you choose be integrated to the third-party solutions you are planning to use. That means things like store front platforms and shopping carts—you want them to be compatible with your gateway.
Payment gateways will not only allow you to collect the monies from your sales, many also offer an array of security features, some of which will help you avoid becoming a victim of fraudulent orders! In the end, they will make your ecommerce business a less-stressful, more pleasant experience—for both you and your customers.
dinsdag 11 augustus 2009
3 Key Secret Components For Wholesale Profit Success
Everyday it is getting more attractive to start selling wholesale items online and offline because of the profit potential many products carry. Now a days if you plan to make a part-time income or make a full-time living by selling wholesale items, you need to know three basic components that almost every seller online and offline do not use to their advantage.
In order to have success within the wholesale business you need to follow the three steps key components 98% average Joe marketer does not apply and fails to recognize as vital important factors for company short-term and long-term success as competition is getting heavier every day, such key steps are:
Key Component Number 1: Research. Product and market research both online and offline is a must for the initial start-up success of a potential profitable wholesale business.
You need to discover what wholesale items are profitable, which items are viable and saturated, item acceptance-nationally or worldwide, market population, item conversion rate, return on investment and competition research to name a few.
Know how to make this research before deciding to sell a product and more importantly, a wholesale item. Since when we sell wholesale, profits are less since we sell to merchants, retailers or clients and therefore need more research time to enjoy possible future profits.
Key Component Number 2: Test. Most successful businesses test their product and system before even starting to sell the main item both online or offline.
One of the tools you can use for your immediate advantage is the use of surveys. By using and completing a survey to a potential customer, you obtain valuable rapport on customer likes and dislikes about your idea, product or business concept. Use this free survey resource to your advantage before selling for immediate feedback.
Key Component Number 3: Take Action. Start offering the wholesale item for a fee and gather final conclusions if your item will or will not sell. By doing the proper research, testing and getting into an action process mode, you will win or lose money. No matter what happens in your sales experience with your new item, you earn profits or you gain considerable knowledge and experience.
Very importantly, you must take action with your new idea or recurring wholesale business venture as doing so will increase your experience and potential profit success within your niche and industry.
In order to have success within the wholesale business you need to follow the three steps key components 98% average Joe marketer does not apply and fails to recognize as vital important factors for company short-term and long-term success as competition is getting heavier every day, such key steps are:
Key Component Number 1: Research. Product and market research both online and offline is a must for the initial start-up success of a potential profitable wholesale business.
You need to discover what wholesale items are profitable, which items are viable and saturated, item acceptance-nationally or worldwide, market population, item conversion rate, return on investment and competition research to name a few.
Know how to make this research before deciding to sell a product and more importantly, a wholesale item. Since when we sell wholesale, profits are less since we sell to merchants, retailers or clients and therefore need more research time to enjoy possible future profits.
Key Component Number 2: Test. Most successful businesses test their product and system before even starting to sell the main item both online or offline.
One of the tools you can use for your immediate advantage is the use of surveys. By using and completing a survey to a potential customer, you obtain valuable rapport on customer likes and dislikes about your idea, product or business concept. Use this free survey resource to your advantage before selling for immediate feedback.
Key Component Number 3: Take Action. Start offering the wholesale item for a fee and gather final conclusions if your item will or will not sell. By doing the proper research, testing and getting into an action process mode, you will win or lose money. No matter what happens in your sales experience with your new item, you earn profits or you gain considerable knowledge and experience.
Very importantly, you must take action with your new idea or recurring wholesale business venture as doing so will increase your experience and potential profit success within your niche and industry.
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