Underperformers - Finding the Root Cause By Akhil Shahani

Let's go back to age old wisdom which says that all men are not made equal. And as the boss of a diversified workforce, you probably believe in that more than anyone else. In any group, you will find overachievers and underperformers. While getting rid of the latter may seem an obvious solution, it's not necessarily the best or the right thing to do.

Often, a below par performance has more to do with external circumstances, than any inherent laziness or lack of talent in the individual. As the senior person in the organization, it is your responsibility to find out the real reasons behind the poor showing of an underperformer, and take steps to remedy the situation.

In many cases you may find that some simple changes can work wonders. The trick is to get to the bottom of things. Here is a list of the most common causes of poor performance.

No clarity of job description. Oh, that's just great! Say that you're looking to deepen existing client relationships, but your sales manager believes that his priority is to recruit new clients. Obviously, you think he doesn't do his job.

This can be rectified by laying down clear job descriptions for important, if not all employees. Put down key deliverables, being as specific as possible. Once expectations are put in writing, there's far less room for confusion.

Inadequate support or resources. You can't blame employees for turning out a poor show if they don't have the necessary tools. If your finance manager is doing the job of the cost accountant in addition to trying to manage her own responsibilities, you need to reward her instead of pulling her up on her slip ups!

Evaluate the resource needs of your staff from time to time, and do your best to fulfil them. Sure, you can't always satisfy all their needs, but any support from your side will result in a more motivated workforce.

Lack of training. Training is usually looked upon as a cost rather than an investment, and that's where the problem lies. If you expect your employees to cope with the growth and increasing complexity of the business, you must make sure they have the necessary skills.

Formulate a training plan and stick to it. Let the results speak for themselves.

External distractions. Imagine writing a strategy paper if the neighboring building is undergoing repairs. Or sitting in an area adjoining the copier station!

Outside factors such as noise, excessive heat or even a disruptive neighbor can reduce the most capable people to underperformers. Fortunately, this situation can usually be easily remedied (except in the case of the latter) with some rearrangement.

Personal issues. What do you do when a top performer suddenly slacks off? Sit down with her or him and probe gently, taking care not to seem too interfering. Personal problems do get in the way of performance, and if you have the patience to wait it out, your underperformer will soon return to his or her winning ways.

Dealing with underperformers is a difficult, yet essential task. Make sure that you do what is fair, else you might just be throwing the baby out with the bathwater.

Are Companies Training Their Employees Right? By Akhil Shahani

Companies spend a small fortune each year on training their employees. Right from human resources personnel to line managers, everyone swears by the "T" word, almost as if it makes the world go round. Scratch the surface a bit; ask them about the real results they achieved from the last training program they were involved in and you might get a very different reaction. We think training might be the most misused, misunderstood, overestimated, yet underutilized tool in corporate history... well, maybe not quite, but you get the picture.

So, are we saying that companies that invest in training their employees have got it all wrong? Aw, give us a break! The last thing to do is throw the baby out with the bath water. Allow us to explain.

Don't think of it as annual ritual. We think that most businesses approach training like it was some kind of festive tradition - do it once a year and be done with it. Training is not an isolated experience, and learning isn't something that can be swallowed in three quick gulps. Like it or not, every person is continuously engaged in the training process - how would they learn, otherwise? Most real training happens during the normal course of a work routine, the more people go about their tasks, the more they learn. And that which is learned during this type of process, is rarely forgotten, unlike the information contained in glossy presentations and glib talks that form the essence of a lot of training programs!

Which brings us to our next point, and that is, there must be transfer of knowledge. The holy purpose underlying the efforts of all those firms training their employees must be that the trainee learns something, which can be put to good use, during the normal course of work. Knowledge by itself is of no value, unless it can find application of some sort. And since we've already said that transference happens best when one is on-the-job, it's easy to see that one feeds off the other. If we change our mindset to one that believes that training is not a one-off, but "infinitely-on" activity, and formalize the everyday learning a little bit, it can really pay off! Let's take the example of a research company - regular sharing of information among team members about new resources, techniques and concepts, multiplies the knowledge capital right away. Isn't that a type of training, in itself? Of course, there are plenty of situations where a structured training program is called for, like when new technology is involved, or a fresh recruit has to be taught a manufacturing process. But don't forget that the real learning begins once the training program ends.

We talked about results earlier. Many senior executives mistakenly believe that training their employees is a waste of time and money, because the results are not there to see. Hold on, a bit. Could this merely be a case of myopic hindsight? What efforts are being made to ensure that the goals of the training function are in sync with the company's objectives? Has someone tried to align the two? If so, what were the expected deliverables? You know what we're getting at. On the other hand, could it be that the process is not working because of practical limitations, such as the inability to gather all concerned at one place at one time? Technology has found a way around this - companies such as Walk the Talk offer a host of CD based training materials that enable people to learn when they can, where they can.

Get people together. If the newly gained knowledge is applied as it should be, it is likely to impact others within the company. So, take the big picture into account. Take the example of a new sales reporting or invoicing system primarily used by the accounts department - make sure the sales and customer service teams know about it too. And finally, make sure that senior management is involved at important times. If the CEO believes in the worth of training, and says so, the guys down the line have no choice but to believe it!

Paying attention to some of these ideas might make a big difference to the success of your company's training initiatives. Do give it a try.

10 Tips to Maintain Your Visibility at Work By Sharon Alexander

Whether you work in education, for a corporation or a non-profit organization, you will need to let people know your work. If you notice there are certain people in your current organization who always seem to get recognized for their visibility at work.

If you want to move up in your career and you want to show that you can influence people in your job, it's time to look at strategies to create visibility at work. Here are 10 tips to help you maintain visibility at work:

1. Take a self-inventory -- this is basically an assessment of where you are in your current position. What are the skills and attributes you have that are important to the company. If you aren't sure, ask your boss.

2. Keep up with professional development -- make sure that you take any opportunity to upgrade your skills or your knowledge in your profession. If a new opportunity comes along, you want to be able to take it.

3. Take credit for the jobs you do well --when someone notices that you have done a good job, gracefully thank them and then suggest that you are pleased with what you did.

4. Show initiative and motivation - volunteer for committees or new products that come up. Sometimes taking a project that is a bit risky that you know you can make succeed will put you in the forefront of the bosses' mind.

5. Write articles - share your information that you discover in a company newsletter or other publication that is appropriate. Also join a professional organization and write for their newsletter. This will insure your visibility at work.

6. Promote others -- when you want visibility, help someone else to become visible. If you are a part of a team and they have finished putting together a project, make sure that they get visibility for their contributions.

7. Get involved -- let people get to know you through company gatherings. Talk to people from all over the company and get to know a wide selection of people in addition to those you already know.

8. Keep a portfolio -- whether you are in a job where a portfolio is necessary or not, it is a good idea to keep a portfolio of all the projects you've worked on and seen through to the end. Even the first page of each report is good. This will give you something to talk about to your boss at a later date.

9. Ask for a promotion when its time -- some people become visible but forget to ask for a promotion when the timing is right. Use your portfolio to help and outline what you've done and why you feel a promotion is a good idea.

10. Share your knowledge -- be sure to share your knowledge at conferences, in special meetings or whenever the opportunity is appropriate. The more you can maintain your visibility at work the better.

Maintaining visibility at work is important, especially if you want to move up the career ladder. These tips should help you out, the important thing is not to loose focus.

Things Not to Do While Starting a New Business By Akhil Shahani

Starting out on your own is indeed a risky business - most of the time you are not sure that you are doing the smart thing. To help you on your way, here is a list of things that you should avoid while starting a new business.

Think of the new venture as a puzzle that you are putting together. Choosing a location, hiring staff and building a customer base are among the many pieces of the puzzle that you must assemble to build a strong business. Missing out on even a single piece will leave a gaping hole. Risk of failure is high during the initial three years and often, because of a lack of prior understanding of the mistakes to avoid while starting a new business. Not sure what we're talking about? Relax! We've made a list of warning signs that you need to attend to before venturing out on your own.

* No business plan - The first piece in the puzzle is a business plan, without which you will go nowhere. While an idea is necessary to start a new venture, it needs to be thoroughly fleshed out in the form of a business plan to ensure that your enterprise starts off on a sure footing. A business plan forces you to think about your goals - and helps you find answers to questions like "What do I want to accomplish and how am I going to do it?" Remember that if you fail to plan, you are actually planning to fail. While a business plan is essential, remember that it is only a guide to help you through the process; it is not an end in itself. As situations unfold and priorities change, you can always go back to your plan and change it. The planning process is tedious and time-consuming but it will benefit you more than you could imagine.

* Ignoring the internet - In today's digital world, not having a website to promote your business is as good as not having the business at all. A website can be a great marketing tool to spread awareness about your new venture. Ignoring it probably ranks very high on the list of mistakes to avoid while starting a new business. Also acquire an email facility with your website's domain name. This sounds a lot more professional than a free internet mail service.

* Insufficient funding - The US Small Business Administration (SBA) considers inadequate or ill-timed financing to be one of the main reasons why small businesses fail. Effective cash flow management will help get funds into the bank as quickly as possible. Do plenty of research to find the right financing option as there are many choices including angel investors and venture capital firms, commercial banks, SBA assistance, home equity loans, and credit cards.

* Choosing the wrong business structure - The typical structures for a start-up business include sole proprietorships, general partnerships, joint ventures, limited partnerships, limited liability partnerships and others. The decision you make now will have long-term implications, so consult with an accountant and attorney to help you select the form of ownership that is right for your type of business.

* Not making time or effort - There is no quick road to success - it takes long hours, strategic planning and commitment. It takes a huge amount of time and effort to start a business and run it, particularly in the early stages. Be sure that you have what it takes to last the long haul.

* Improper or no research: Well, you have a great idea and want to start a new venture. Now what??? One of the crucial mistakes that a new entrepreneur makes is to believe that he has the best idea ever. While your idea might seem brilliant to you, you have to see if the market is ready for it. Talk to people, read about the market in your area of business and gather as much information as you can before setting out. This will enable you to come up with a clear and focused business plan which is an essential ingredient for a successful venture.

Starting a new business could be a rewarding or thankless experience, depending on how you go about it. The key is to avoid making mistakes and stay focused on the goal.

Bradford & Bingley - How to Bungle a Share Issue By Leslie Hardy

The problems besetting Bradford and Bingley started on 14 April 2008 when it denied reports that it intended to raise funds through a rights issue of new shares and sought to reassure depositors, shareholders and the market that it had a strong capital and liquidity base.

On 22 April, Mr Stephen Crawshaw, the Chief Executive, stated that he saw 'excellent growth' during the first quarter of 2008 and that the bank was well funded.

However, on 14 May, B&B announced a rights issue, priced at 82 pence a share in an effort to raise GBP300 million from shareholders. Mr Crawshaw apologised.

This attempt to mislead the markets had backfired, and the share price, which stood at around 185 pence at the end of April, went into free-fall.

On 2 June, B&B issued a profits warning. Mr Crawshaw resigned and was replaced by Mr Rod Kent. At the same time, B&B announced that it planned to sell a 23% stake in the bank to TPG for GBP179 million, by way of new shares. TPG, formerly Texas Pacific Capital, is a global financial institution. A further GBP258 million was to be raised via a revised rights issue at 55p per share. The rights issue was to be underwritten by Citigroup and UBS.

On 23 June, an alternative offer was made to B&B by Mr Clive Cowdery, who represented four of B&B's largest shareholders - Legal & General, M&G Investment Mangers, Standard Life, and Insight Investment. Mr Cowdery was offering to buy stock at 72 per share. The talks stalled due to B&B's refusal to open its books to Mr Cowdery. At the time, B&B took the view that the proposal by TPG was more attractive and described Mr Cowdery's bid as 'uncertain' and criticised it for ceding too much control to his Resolution investment group.

On 3 July, TPG stated that it intended to withdraw from the deal due to Moody's reducing the credit rating of B&B from A3 to Baa1. The credit rating agency cited B&B's obligation to buy mortgages of up to GBP350 million per quarter from GMAC, a global finance company, until 2009.

The general reaction to this news was one of hysteria and an avalanche of criticism from UK institutions. However, B&B admitted that TPG did have an option to withdraw, should there be a downgrading of its credit rating. Therefore, TPG was not only well within its right to withdraw, but probably correctly concluded that B&B had severe problems of which they had not been previously aware.

The quality of this dubious GMAC portfolio continues to attract severe criticism from shareholders. Moody's also expressed reservations about B&B's buy-to-let mortgages and self certification loans, although these were overshadowed by the GMAC commitment. Several independent commentators have suggested that B&B could lose in excess of GBP400 million, due to write downs, in a final reckoning of its unwise commitment to GMAC.

In addition, the bank remains tied into deals with Aire Valley Master Trust, who have some GBP13 billion of mortgage assets. B&B has GBP11 billion of mortgages in its Aire Valley securitisation programme, which is triple A-rated.

However, Moody's downgrade of B&B's own credit rating means the bank does not enjoy the sufficiently high rating required under the interest rate swap that it provides to the Aire Valley trust.

B&B has to address this matter within 1 month. There are three possibilities - firstly, it could inject an undisclosed amount of extra cash, secondly, it could nominate an intermediary as a counter party, or thirdly, it could find a guarantor.

On 4 July B&B claimed that it had a renewed commitment from the four major institutions who were originally part of the Clive Cowdery offer. This would enable the GBP400 million rights offer to proceed at 55 pence a share.

Behind the scenes, the Financial Services Authority (FSA) was working hard to ensure that B&B did not collapse, as had Northern Rock.

The FSA rescue on Thursday 3 July made an undisclosed facility available to B&B. It has been described as a classic bank of England lifeboat operation. The lifeboat refers to the activities of the Bank of England in lending funds to small financial institutions in the 1970s.

At the same time, the Bank of England has exerted influence, some would say pressure, on some of the largest British banks in an effort to ensure that the underwriting of the rights issue by Citigroup and UBS goes ahead.

At the current market price, which is considerably less than 55p, the underwriters will end up purchasing all the new shares. However, due to the Bank of England's efforts, these losses will now be shared with HBOS, Lloyds TSB, Barclays, Abbey, RBS and HSBC. This will amount to purchasing some GBP230 million or a 33% share in B&B.

Meanwhile B&B has disclosed that the chaotic rights issue of GBP400 million will now cost GBP54 million. This is because the prospectus is now in its third version. Worse still, Goldman Sachs will receive a fee for introducing TPG to B&B. This is despite the fact that no deal was done and TPG walked away.

It now looks that B&B is safe, for the moment, from bankruptcy or being taken into public ownership. However, the rights issue will place the other leading UK banks into a loss making situation. The disaster at B&B was precipitated by a lack of honesty in the statements of the Chief Executive. Once his attempts to mislead the markets were publicised, the share price went into free fall.

Duplicity, or lying, by chief executives of banks is a most dangerous and unwelcome development. Banks operate on the basis of trust, namely depositors entrust them with their life's savings. Bank managers have traditionally advised borrowers to be cautious and ensure they can meet their commitments. This is now exposed as a sham. B&B issued self certification mortgages to anyone who could fill out an application form, and engaged in ill considered deals with global giants such as GMAC.

The embarrassment of announcing a rights issue of new shares was unfortunate, but the fact that the prospectus had to be revised on two successive occasions demonstrates incompetence and ineptitude.

The only player who has emerged from this saga with an untarnished reputation is the Bank of England. In the aftermath of their disastrous handling of Northern Rock, they have regained some credibility.

This has not been achieved by the granting of any new powers to the Bank of England. On the contrary, they have reverted to their traditional and historic role as a lender of last resort. Bankers who were in trouble would arrive in Threadneedle Street at 3pm and drink tea with the Governor. After talking about, Ascot, Wimbledon, Eton or whatever, the banker would indicate that his bank was insolvent and would be forced to declare bankruptcy on the next day. At this point, the Governor would offer a loan, and the matter would be concluded with a handshake.

It is gratifying to see that the Bank of England understands its role in turbulent times.

How to Be a Good Recruitment Consultant By Edwin Abl

In order for someone to be good as a recruitment consultant they require a blend of several types of skills, without these the role can be very demoralising and unsuccessful.

It is not hard to land yourself a role in recruitment, after all recruitment is a sales role and therefore does not necessarily require a strong academic background. But for many being a good recruitment consultant is incredibly difficult - so I will try to explain why it is so difficult and how you can position yourself to be the best possible success you can be. Remember as with any other sales positions the 80/20 role generally applies. So 80% commission will be earned by 20% of the sales team, if you want to be part of that 20% then read on and hopefully you can fine tune your recruitment skills.

This is more prevalent in agency side recruitment as there is a whole other breed of recruiters whom work internally and on-site for clients/Recruitment Process Outsourcing companies. The same attributes will still be relevant for both types of consultant but it is a slightly different role meaning a slight difference in approach and behaviour. I will go through some areas of differentiation though and tips for both types of consultant.

Firstly, let's explain why the role can be difficult. Recruitment consulting can be very boring, mundane and repetitive on a day-to-day basis, I'm not really selling this to you am I!

The type of character required to be successful as a consultant must be prepared for this and deal with that aspect of the role. On the flip side it can come with much reward; you actually deal with people everyday giving you a great insight into human nature. You can earn high commission, probably earn salaries not nearly possible in other positions at a very young age; making a deal gives you a good buzz and sense of fulfilment when a candidate is truly grateful for (helpful to) your assistance in finding a new role. Therefore if you are considering going into a career in recruitment take note of the above. Really have a look at yourself and ask yourself if it is really what you want to do, then assess whether you have the right background to succeed. I'm not saying if you don't have every attribute naturally you can't succeed but then if you are willing to work hard and learn new skills you will be successful. The basic background behaviourally to be a good consultant is determination, the ability to listen, resilience, honesty, pro-activity, monetary drive (not with everyone but it will help) and competitiveness.

The two that are most important here are determination and the ability to listen, without these two you will find life very difficult.

So you think you have the behavioural attributes and you are keen to start a career in recruitment, now let's assess the skills you can develop on the job and tips to be successful. If you are working as an agency side recruiter you will be exposed to much more of a sales position and with a sales position comes hard targets/high expectations to deliver. You will be expected to develop business from scratch (most of the time) and start making money for your employer as soon as possible.

Right, before you start your role do as much research as to your market, companies in the market and the skills profile to the type of person you will be recruiting on a day-to-day basis. The more you do at this point the faster you will hit the ground running. On starting, make sure you develop a disciplined day plan designed every morning/evening, break up the day into segments and make sure you stick to this. It is very easy to get sidetracked, but keeping focus is very important to being a success, the more focus you have the more identity you have for what you want to achieve which will mean better results. Be open and honest with everyone you deal with and treat people with respect, if you really do stay in recruitment for years you will be surprised how many times you will come across the same people, so remember what goes around comes around.

When developing new business, try to do something different and stand out from the crowd. I would say this is one of the ways you can really put yourself in that 20% of high achievers, don't just pick up the phone and mindlessly cold call. Do your research; read industry press, websites regarding fast growth companies, attend networking events in your sector, market your services via email in a way recipients will open their mail - use headings such as "as discussed" etc. You see you have to be slightly clever about doing things, if you employ a variety of tactics and work hard I guarantee you will see a healthy reward. The reasons for failure are on your shoulders ultimately, if things aren't happening for you then CHANGE your tactics.

I have really focused on the agency side consultant, so let's look at how to be a good on-site recruiter. You will be less sales focused from a new business perspective but still will feel the pressure of targets. To be good in this market you must be much more consultative and client facing (you may sit with a client), with the ability to multi-task successfully as often you will have a wide range of open requirements. You will be dealing with recruiters yourself so the ability to communicate effectively to them and handle other stakeholders in the process is important. On-site recruiters need to balance the use of external agencies and resourcing by their own methods successfully, as they are judged not only on filling roles but cutting costs - not making as much money as possible like an agency consultant. You should be communicative, open for trying new resourcing methods and pro-active in your approach.

Hopefully this provides an overview of what makes a good recruitment consultant and the little tips that could help you be more successful. Remember like any job it is not easy being successful, but if you have the drive and ambition to succeed then you can make anything happen.

Free Software For Sending Bulk SMS Messages By Mansi Aggarwal

With an ever increasing and exponentially growing penetration rate of mobile phone users in India, the SMS text messages are becoming an essential mode of inter-personal communication. Sending SMS messages to a limited number of users may be convenient but sending bulk SMS messages through mobile phone would be a hilarious task.

Following the cardinal principle"necessity is the mother of invention," SMS XL 1.5 comes to your rescue. Moreover, the best part of this innovation is that it is completely free for everyone who uses a mobile phone and a computer. Two applications, the mobile phone messaging services and the Microsoft Excel, have been interwoven to create an all-new interface for sending bulk SMS messages in one go. is now offering this SMS XL 1.5 plug-in and user interface making it easily accessible for everyone at no cost.

With SMS XL 1.5 plug - in you do almost nothing.
It is that simple. Whatever data you have just import it in to the Microsoft Excel. You get so many SMS message templates. You can even create your own as well. Pick the most suitable one and that is all. The software will do rest of everything.

Your SMS message will automatically be added to the mobile phone numbers of your phone-list. The SMS plug-in actually links the SMS message and the mobile phone numbers. This plug-in also ensure sending your SMS messages to the bulk users individually. This is how everyone in your mobile phone number list will be receiving a text-message instantly.

With this unexpected free software, you will be performing multiple message sending functions within few seconds only. It facilitates you with an easy access to a huge number of mobile phone users almost instantly.

If you are a user of desktop computer and work frequently on MS Excel then this utility is of extreme importance for you." SMS plug-in for Excel" is an innovative concept and you can send bulk SMS within few seconds with its application. In your office whole of your staff would be benefited with this utility as it helps saving time largely.

Most striking features of this free software and SMS plug-in include its ease of use, ease of creating SMS message templates, user-friendly set up, and personalization of each SMS message. Sending SMS messages directly from the MS Excel spreadsheets is an added advantage for all those who are active in direct marketing, multi-level-marketing (MLM), and network marketing businesses.

Wholesale Supplier Catalog - 3 Important Things to Check in a Catalog For Wholesale Supplies By Dennis William

There are things you should look for when you are checking out a wholesale supplier catalog. This is important information that you might need in the future. Catalogs of wholesale suppliers contain much information, but you do not really need to memorize or take note of everything. Just remember a few things and it could be as good as remembering the entire product directory or listing itself. And what are these things? Here they are:

First thing to take note of in a wholesale supplier catalog is, of course, the things that you might buy in the future, items in the directory that could be useful for you. Now, if the product listing is a very thick one and there are very many things listed, it could overwork and strain your memory a bit trying to memorize a lot of things. If this is the case, don't make things hard on you. Take out a pen and paper and write down the items.

Next to the items you have taken mental note of or written down on a piece of paper, check their respective prices. Basically, this is what a catalog is all about - a list of a wholesale supplier's products and their prices. Try to determine if the prices are cheaper, more expensive, or just about the same compared to the actual price you personally know about.

Also, the last thing you should not fail to check if you are looking and taking note of a wholesale supplier catalog is the discount you will be getting for purchasing items listed. Do not forget, you are holding a product listing of a wholesale supplier and not a retailer's product listing. When we buy in large scale or in bulk, we normally get discounts for that. Again compare the discounts offered with discounts you know offered from another wholesale supplier.

After finishing your notes about the items, their prices, and the discounts you get from the wholesale supplier's catalog, you will have no problem deciding where to buy things from since you already know from which distributor you will be able to save more. But if you don't have plans buying anything yet, keep your notes. You might be surprised about changes implemented by the different distributors regarding their price list. Those who offered cheaper goods before could change and offer goods at a more expensive price. To be sure of things, check the updated wholesale supplier catalog once more and do the things again mentioned above.

DHL, Fedex and UPS International Shipping Guide Comparison By Jenny Cadalina

We have reviewed the international shipping guides from DHL, Fedex and UPS for use by a novice shipper. We have evaluated these guides on the following points:
- Content Layout
- Ease of understanding for a novice shipper
- "How To" instructions provided
- Links to Shipping resources openly available without registration.

For the novice shipper international shipping guides can be a geat way to start to learn about the international shipping process. However writing a useful shipping guide for this audience can be a little tricky because it can become very confusing very quickly. In our estimation DHL provides the best How To Ship International Guide in the form of their "DHL Guide to Exporting" from all four standpoints. This is primarily because their document answers the following questions in a manner that is easy to understand and complete:
- What do you need to start?
- How do I distinguish between Document and Non Document item?
- What forms are the basic forms that I need?
- What kind of shipping resources are available to me?
- What services do you provide?

The "Fedex International Shipping Reference Guide" comes in a close second and the "UPS Navigate International Shipping With Confidence Guide" comes in at a distant third.

The "DHL guide to exporting" differentiation between Document and Non-document item is one of the aspects that push it over the top to first place. Fedex uses a flow chart to differentiate between Document and Non-Document packages that we believe would be confusing to a novice shipper. It is important for the novice international shipper that knowing whether a shipment is a document or not can ofen be the difference betwen a dutiable and non-dutiable shipment. In addtion, it is not always obviuos what is or is not considered a document. The definitions for this category vary from country to country.

Finally DHL won first place because of its inclusion of free shipping resource links that are avialable to the public without first registering. These include their "Trade Document Library" which is a treasure trove of additional country specific documents that may be needed to export to your country besides the basic general documents and "Interactive Classier" for finding Harmonized B and Schedule B numbers. The Fedex guide does not refer to their own classifier they point you to an external government site. UPS make referenced to a TradeAbility tools to find harmonized tariff codes but they do not provide a link to it.

Should You Use a B2B Telemarketing Company? By Mac McIntosh

There are many services provided by B2B telemarketing companies you might consider if your business isn't doing very well in the market today. They can help you build beneficial leads, identify sales cycles, problems you might have, identify opportunities, increase revenues, and more. When you seek help from a B2B telemarketing firm they can help you with current problems you might have but not realized. These problems could be with your existing website, employees, processes and more. It could be something so simple stopping you from being successful and they can help you identify the problem and fix it.

Building beneficial leads is one of the biggest benefits of a B2B telemarketing firm. You might think that your target audience is a certain group of people and find out that the products you offer are actually being purchased by a much younger and hip crowd. They can help you identify the audience and work effectively targeting them so you will have more sales and possibly long-term customers. When you use a B2B telemarketing business they can also help you identify opportunities that you may not have noticed before. It is important to always be on the lookout for every opportunity that you can. They can help you identify the opportunity and go after it the right way.

A B2B telemarketing company will also help you build the pipeline right away so you can accelerate the cycle of your sales. The ultimate goal is to improve your business through more revenue. However, you also want to build integrity through your customers. A company can help you achieve all of these goals. There are many reasons you might consider a B2B telemarketing business. They will be able to help you with issues with sales, current problems causing you to fail, identify opportunities, and much more.

Strategic Analysis By Bassem Atef

What is The BCG Growth-Share Matrix? What are the main aspects of The BCG Growth-Share Matrix? How to develop Good BCG Growth-Share Matrix of a company? Where to find information for The BCG Growth-Share Matrix?

INTRODUCTION
No strategic management or marketing text appears to be complete without the inclusion of the Boston Consulting Group (BCG) growth-share matrix. When used effectively, this model provides guidance for resource allocation. And despite its inherent weaknesses, is probably one of the most widely used management instrument as far as portfolio management is concern. For instant, each SBU (strategic business unit) of large companies such as General Electric, Siemens, and Centrica require different strategies to compete effectively and efficiently. It is not a question of one strategy fits all SBUs since the likelihood for each of them experiencing the same market growth rate, industry-threats and leverage is very slim. This is where the BCG model comes into play as a management analytical tool. The ensuing examines the underpinnings of the model, for what it is used, how to use it and why it is used.

WHAT IS THE BCG GROWTH-SHARE MATRIX?
To begin with, BCG is the acronym for Boston Consulting Group-a general management consulting firm highly respected in business strategy consulting. BCG Growth-Share Matrix (see figure 1) happens to be one of many of BCG's strategic concepts the organisation developed in the late 1970s, and is being taught at leading business schools and executive education programmes around the world.

It is a management tool that serves four distinct purposes (McDonald 2003; Kotler 2003; Cipher 2006): it can be used to classify product portfolio in four business types based on four graphic labels including Stars, Cash Cows, Question Marks and Dogs; it can be used to determine what priorities should be given in the product portfolio of a company; to classify an organisation's product portfolio according to their cash usage and generation; and offers management available strategies to tackle various product lines. Consider companies like Apple Computer, General Electric, Unilever, Siemens, Centrica and many more, engaging in diversified product lines. The BCG model therefore becomes an invaluable analytical tool to evaluate an organisation's diversified product lines as later seen in the ensuing sections.

WHAT ARE THE MAIN ASPECTS OF THE BCG GROWTH-SHARE MATRIX?
The BCG Growth-Share Matrix is based on two dimensional variables: relative market share and market growth. They often are pointers to healthiness of a business (Kotler 2003; McDonald 2003). In other words, products with greater market share or within a fast growing market are expected to wield relatively greater profit margins. The reverse is also true. Let's look at the following components of the model:
Fig. 1: Source: 12manage.com 2006

Relative Market Share
According to the proponents of the BCG (Herndemson 1972), It captures the relative market share of a business unit or product. But that is not all! It allows the analysed business unit be pitted against its competitors. As earlier emphasized above, this is due to the sometime correlation between relative market share and the product's cash generation. This phenomenon is often likened to the experience curve paradigm that when an organisation enjoys lower costs, improved efficiency from conducting business operations overtime. The basic tenet of this postulation is that the more an organisation performs a task often; it tends to develop new ways in performing those tasks better which results in lower operating cost (Cipher 2006). What that suggests is that the experience curve effect requires that market share is increased to be able to drive down costs in the long run and at the same time a company with a dominant market share will inevitably have a cost advantage over competitor companies because they have the greater share of the market. Hence, market share is correlated with experience.

A case in point is Apple Computer's flagship product called the iPod, which occupies a dominant 73% share the portable music player market (Cantrell 2006). Analysts believe it is the impetus for Apple's financial rebirth 40% of Apple's sales is attributed to the iPod product line (Cantrell 2006). Similarly, Dell's PC line shares the same market dominance theory as the iPod. The PC manufacture giant occupies a worldwide market share of 18.1%, which is commensurate to its large market revenue above its competitors (see figure 2).
Figure 2: Source: Reuters 2006

Market Growth
Market growth axis, correlates with the product life cycle paradigm, and predicates the cash requirement a product needs relative to the growth of that market. A fast growing market is generally considered attractive, and pulls a lot of organisation's resources in an effort to increase gains. A case in point is the technological market widely consider by experts as a fast growing market, and tends to attract a lot of competition. Therefore, a product life cycle and its associated market play a key role in decision-making.

Cash Cows
These products are said to have high profitability, and require low investment for the fact that they are market leaders in a low-growth market. This viewpoint is captured by the founders themselves thus:

The cash cows fund their own growth. They pay the corporate dividend. They pay the corporate overhead. They pay the corporate interest charges. They supply the funds for R&D. They supply the investment resource for other products. They justify the debt capacity for the whole company. Protect them (Henderson 1976).

According to experts (Drummond & Ensor 2004; Kotler 2003; McDonald 2003), surplus cash from cash cow products should be channelled into Stars and Questions in order to create the future Cash Cows.

Stars
Stars are leaders in high growth markets. They tend to/should generate large amounts of cash but also use a lot of cash because of growth market conditions. For example, Apple Computer has a large share in the rapidly growing market for portable digital music players (Cantrell 2006).

Question Marks
Question Marks have not achieved a dominant market position, and hence do not generate much cash. They tend to use a lot of cash because of growth market conditions. Consider Hewlett-Packard's small share of the digital camera market, behind industry leader Canon's 21% (Canon 2006). However, this is a rapidly growing market.

Dogs
Dogs often have little future and are big cash drainers on the company as they generate very little cash by virtue of their low market share in a highly low growth market.
Consider Pfizer's Inspra (Gibson 2006):

"Pfizer launched this drug in Q4 2003 and continues to pump money into this problem child, despite anaemic sales of roughly $40 million in the $2.7 billion heart-failure market dominated by Toprol-XL (metoprolol). It was thought to gain market share and become a star, and eventually a cash cow when the market growth slowed. But, according to industry's experts, Inspra is likely to remain a dog, despite any amount of promotion, given its perceived safety issues and a cheaper, more effective spironolactone in the same Pfizer portfolio. Because Pfizer invested heavily in promotion early on with Inspra, the drug's earnings potential and positive cash flow is elusive at best. A portfolio analysis of Pfizer's cardiovascular franchise would suggest redeploying promotional spend on Inspra to up-and-coming stars like Caduet (amlodipine/atorvastatin) or torcetrapib to ensure those drugs reach their sales potential."

HOW TO DEVELOP GOOD BCG GROWTH-SHARE MATRIX OF A COMPANY?
SBUs or products are represented on the model by circles and fall into one of the four cells of the matrix already described above. Mathematically, the mid-point of the axis on the scale of Low-High is represented by 1.0 (Drummond & Ensor 2004; Kotler 2003). At this point, the SBU's or product's market share equals that of its largest competitor's market share (Drummond & Ensor 2004; Kotler 2003). Next, calculate the relative market share and market growth for each SBU and product. Figure 3 depicts the formulas to calculate the relative market share and market growth.
Fig 3

Oftentimes, if you are versed with a particular industry and companies operating in it, you could draw up a BCG matrix for any company without necessarily computing figures for the relative market share and market growth. Figure 4 depicts a fairly accurate BCG growth-share matrix for Apple Computer developed in the spring of 2005 without the author calculating the relative market share and market growth.
Fig. 4 Source: Asong (2005)

Once the products or SBUs have been plotted, the planner then has to decide on the objective, strategy and budget for the business lines. Basically, at this juncture the organisations should strive to maintain a balanced portfolio. Cash generated from Cash Cows should flow into Stars and Question Marks in an effort to create future Cash Cows. Moreover, there are 4 major strategies that can be pursued at this stage as described in the ensuing section.

AVAILABLE STRATEGIES TO PURSUE

Build
The product or SBU's market share needs to be increased to strengthen its position. Short-term earnings and profits are deliberately forfeited because it is hoped that the long-term gains will be higher than this. This strategy is suited to Question Marks if they are to become stars.

Hold
The objective is to maintain the current share position and this strategy is often used for Cash Cows so that they continue to generate large amounts of cash.

Harvest
Here management tries to increase short-term cash flows as far as possible (e.g. price increase, cutting costs) even at the expense of the products or SBU's longer-term future. It is a strategy suited to weak Cash Cows or Cash Cows that are in a market with a limited future. Harvesting is also used for Question Marks where there is no possibility of turning them into Stars, and for Dogs.

Divest
The objective of this strategy is to rid the organisation of the products or SBUs that are a drain on profits and to utilize these resources elsewhere in the business where they will be of greater benefit. This strategy is typically used for Question Marks that will not become Stars and for Dogs.

WHERE TO FIND INFORMATION FOR THE BCG GROWTH-SHARE MATRIX?
Information for the BCG Growth-Share matrix is generated from multiple sources including company's annual reports, sec fillings and a host of specialised research organisations such as IDC, Hoover, Edgar, Forrester and many more. Armed with this information, developing a BCG growth-share matrix should pose less of a problem.

Limitations
The BCG model is criticised for having a number of limitations (Kotler 2003; McDonald 2003):

• There are other reasons other than relative market share and market growth that could influence the allocation of resources to a product or SBU: reasons such as the need for strong brand name and product positioning could compel resource allocation to an SBU or product (Drummond & Ensor 2004).

• What is more, the model rests on net cash consumption or generation as the fundamental portfolio balancing criterion. That is appropriate only in a capital constrained environment. In modern economies, with relatively frictionless capital flows, this is not the appropriate metric to apply - rather, risk-adjusted discounted cash flows should be used (ManyWorlds 2005).

• Also, the matrix assumes products/business units are independent of each other, and independent of assets outside of the business. In other words, there is no provision for synergy among products/business units. This is rarely realistic.

• The relationship between cash flow and market share may be weak due to a number of factors including (Cipher 2006): competitors may have access to lower cost materials unrelated to their relative share position; low market share producers may be on steeper experience curves due to superior production technology; and strategic factors other than relative market share may affect profit margins.

• In addition, the growth-share matrix is based on the assumption that high rates of growth use large cash resources and that maturity of the life cycle brings about the expected profit returns. This may be incorrect due to various reasons (Cipher 2006): capital intensity may be low and the business/product could be grown without major cash outlay; high entry barriers may exist so margins may be sustainable and big enough to produce a positive cash flow and a growth at the same time; and industry overcapacity and price competition may depress prices in maturity.

• Furthermore, market growth is not the only factor or necessarily the most important factor when assessing the attractiveness of a market. A fast growing market is not necessarily an attractive one. Growth markets attract new entrants and if capacity exceeds demand then the market may become a low margin one and therefore unattractive. A high growth market may lack size and stability.
Given the aforementioned weaknesses, the BCG Growth-Share matrix must be used with care; nonetheless, it is a best-known business portfolio evaluation model (Kotler 2003).

3 Sectors to Find the Best Recession Proof Business Opportunities and Help Secure Your Future By Jan H Roos

With the US economy slipping into recession, many people are rightly worried about losing their jobs and even their houses. It begs the question: are there any recession proof business opportunities out there? The answer, as you'll see, is yes, there definitely are some areas that are not affected by the shrinking economy.

Communications

One impressive sector is communications. Specifically, wireless communications. The growth of the cell phone industry continues at a pace, unaffected by the recession. Not only are more people using cell phones (in the US and worldwide), they're upgrading and changing phones more often.

These factors bode well for anyone getting involved in cell phone business opportunities. In particular, online cell phone businesses stand to see real growth, even if the recession deepens in the short term. This is because more people are getting used to buying products online, and also because prices are lower online due to less overhead and lower labor costs.

Health Care

Health care business opportunities also stand up well in the face of recession. This is due to several factors. Medical technology and drug creation are expanding rapidly in recent years. This provides more products and services that need to be administered on a regular basis. Even during recessions, people still get sick and need treatments.

The other reason health care is a great recession proof business field has to do with demographics. The US population is aging. The fastest growing segment is centenarians (those 100 years old and older). Add the fact that the Baby Boomer generation will soon be retiring, and you have the recipe for a great business opportunity during any kind of economy.

Debt Reduction / Collection

Then there's the entire debt industry. Sadly, this field is not only recession proof - it tends to prosper during economic downturns as people borrow more and more to stay afloat. Business opportunities include debt relief counseling programs and information products detailing ways to reduce debt.

Now may be a good time to look into this area, as the US economy appears to be on the brink of dropping into a deep recession. Unemployment is rising, and mortgage and lending institutions are collapsing. The entire debt field looks poised to expand.

Bad economic times don't necessarily mean you should wait to get started. There are plenty of recession proof business opportunities out there. It just takes a bit more due diligence and research to find the right one.

Legally Spy on Your Competition By Mark Warner

Did you know that by legally spying on your competition you can find some new and potentially ground breaking marketing ideas for your own business? It's true, and in most cases, it's completely legal.

You should be looking at your business from the customer's point of view - that is looking at your business as a client would. What's more important than that is looking at your business from the outside - looking for new trends in the market, new ideas and new ways to advertise and market your business.

One way to look at your competition legally is to purchase goods and services from them. This is pretty basic, and you can learn how they up sell, cross sell and what back end products and services they offer - just by getting these services yourself. This is an incredibly easy way to stay on top of your competition and learn how their kicking butt in the market place. This is perfectly legal and offers you the opportunity to look at their business from a client's perspective, and as a result, it helps you understand how your business looks to your clients as well.

You should be able to answer a few questions about your industry at any given time:

• Who is doing something amazing in your industry that is really grabbing customers?
• What does your competition do for marketing and advertising?
• What is your competition doing that is really shaking things up and making a difference to their bottom lines?

The best thing you can do is to find something that already works and then improve on it with a different spin and better marketing. That's all it takes - personalizing someone else's great idea and making it your own. By doing this, you are increasing your business by doing something that someone else has already proven works - by personalizing it, you aren't copying your competition, you're expanding on an idea and making it your own.

Major businesses do this every day - purchase their competition's products and services, learning how they market themselves to customers, how they up-sell their products, the back end products and services they sell that complement the original products and services and how clients perceive the business.

Looking at your competition as a client will open your eyes to your own business through the eyes of your own clients. It is likely that your competition is reading this article too, and might be doing the same thing - spying on you and your marketing ideas to learn from your successes.

Legally spying on your competition is a tale as old as time - all major corporations do this. It's one of the major reasons competing companies have similar products. Look at the two big soda companies - Coke and Pepsi, for example. How is it that they both came up with the idea for a product that has zero calories yet tastes like regular soda? One followed the other, certainly. One company then took the idea and expanded on it by adding something to the zero calorie drink. Now, the original company can take that idea and expand on it as well, and the circle of business continues.

How to Get More Referrals, Attract New Clients & Decrease Costs During a Recession By Joanne Black

Have your phones stopped ringing yet? The economy is lagging and dragging. We've felt the effects in the United States. Now we're seeing global implications.

So, how do you tackle economic uncertainty?

Cut advertising, travel, training, marketing, and discretionary expense line items? Cut purchasing? Ouch!

The pipeline starts to dry up and the anxiety level goes through the roof. Many people think that since there's nothing they can do, they should just do nothing. But "nothing" is futile thinking.

What If You Could Reach Your Market Without Incurring Any Hard Costs?

The only budget you need to worry about is your simply your time... your time to ask for referrals!

You know about referrals. When a qualified prospect is referred to us, we get a new client typically between 70 and 90 percent of the time. Additionally, we are pre-sold. Our selling time decreases. Credibility increases. And, we ace out the competition.

There is no other business-development process that can claim these results. Results are the only thing that matters. And, now you will be able to achieve results simply by implementing the following 8 "Killer" strategies.

8 "Killer Steps" to Attracting New Business in a Lagging Economy

1. Broaden Your Perspective

What business are you in? Redefine and reinvent yourself. Determine how you can create a leap in demand for your products and services. Build new alliances and consider alternate distribution channels. Don't go solo. It's important to assemble a group of advisors and get their input and creative ideas. Include people who have differing points of view from you. Not easy, but critical.

2. Be Nimble and Innovative

You'll never have all the facts. Make quick decisions. Be fearless and make tough choices. Create new uses for your products. Why not a new business model?

3. Dazzle Your Current Customers

Your current customers need care and feeding. Don't ignore them at the expense of new business, because they are your best source for new business.

4. Prioritize Wisely

The most important activity for any salesperson is to do what's "closest to cash" the first thing every single day-whether it's following up with a prospect, writing a proposal, or closing a deal.

5. Become an Expert

Companies hire experts because they can't afford to make mistakes. Position your company as the expert with a specific product or in a specific market niche. Become an expert and people will be more likely to refer you.

6. Stay Connected

If you want to get more referrals you have to network like crazy. Attend a minimum of one event a week. You never know who you will meet and what you will learn. Never let your network go down. Networking is an essential referral marketing activity. So go make connections and build your business.

Talk to people and find out how you can help them. How is their business doing? Are they impacted by the lagging economy? How? Don't email, call. You make connections by talking to people and by spending the time to have a robust conversation.

7. Don't Cut Prices, Increase Value

There's a lot of chatter about cutting prices in a lagging economy. Many small business owners think businesses are cutting back, so prospects don't have money for their projects. But, by cutting prices, you're cutting your profits even further. Instead, consider how to "get in and get started." Divide your offering into smaller chunks, get results, and create traction. Or, give more value. When you offer high-value products and services, people will refer you and you will get more sales, even in a recession economy.

8. Commit to Building Your Referral Business

Referrals are always terrific, but they mean even more in a lagging economy. Don't let the lagging economy trickle down on you. Take charge and make your phone ring again! Let your prospects know how much you care about them. Tell and show just how much you appreciate their business. Inform them that you'd like to help people just like them. And, don't forget to thank your prospects and clients for their referral.

Follow these tips and you will get more referrals. You will attract new business. You will get more clients. You will accelerate your sales. And, you will achieve higher results without increasing your cost of sales. In fact, there's a great chance that you will decrease your costs!

Preparing Your Business For Sale - Information Required by Business Brokers and Intermediaries By Scott Mashuda

The specific information that will be required by a business broker or intermediary to prepare your business for sale depends upon the industry in which your business operates. However, certain information will be necessary and beneficial regardless of industry:

• Three to Five Years Historical Financial Statements / Tax Returns - Although a business buyer will be paying you for what the business is set to accomplish going forward (as of the date of sale), they will look to your historical financial statements (and tax returns) to assess the risk of your anticipated earnings stream.

• Interim Financial Statements for the last Three Fiscal Periods - Very few business transactions will close at the end of a company's fiscal year. As a result, interim financial statements will be required by a buyer, and your broker / intermediary to fill the void between the company's most recent fiscal year end statements and the current date / date of sale.

• List of Assets Included and Excluded in the Sale - Your broker / intermediary will need to demonstrate to a buyer exactly what they are getting in return for their investment. Having a prepared list of both tangible and intangible assets included and excluded from the transaction not only helps clearly present to a buyer what they are getting but also helps eliminate any discrepancies at closing.

• Schedule of Indebtedness of the Business - Whether the proposed transaction is an asset sale or a stock sale will determine the relevancy of this information. If only the assets are being purchased by the acquirer, the existing debt obligations will remain the responsibility of the seller and be of interest to the acquirer only to make certain that all claims to the assets are removed at closing. However, if the buyer is purchasing an equity stake in the company, they will need to understand the company's full financial picture in order to make a buying decision.

• Prior Appraisal and Valuation Reports - Although a current valuation or appraisal may be one of the services offered by your broker / intermediary, providing previously completed valuation reports will help your representatives and buyers understand how your business has changed and grown over time.

• Business Plans and Projections - Although a buyer will look to the historical financial statements for an understanding of risk, price will be determined based on what the business is set up to achieve going forward as of the date of sale. Nobody has a better understanding of this than you, the seller. The best way to demonstrate your future expectations is to prepare a business plan that includes financial projections.

• Marketing Materials - Nobody knows your business and its products or services better than you do. Chances are you've been selling the benefits of your products and services to customers for years. There's no need for your representatives to recreate the wheel. The benefits of your products and services to your customers are the same ones your broker / intermediary will need to sell to a prospective purchaser.

• Economic and Industry Data - Although your broker / intermediary will do their own economic and industry research, there may be information available to you as an industry insider that is not readily available through external sources. Providing this information to your broker / intermediary will help them cast your business in the best possible light when working with buyers.

• Copy of any company lease obligations - Similar to the schedules of indebtedness, these are most relevant when assumed by a buyer. However, even in an asset sale buyers will want to know that no third party claims exist to the purchased assets.

• Organizational Chart - There is a difference between ownership and management. Although the sale of your business will result in a change of ownership, most buyers will not want to see a change in management. The skills and expertise of your workforce and management are one of the things attracting the buyer to your business. An organizational chart will provide a new owner with a clear picture of identified roles and responsibilities.

• Copies and Descriptions of Patents, Trademarks, Trade Names, Existing Research and Development and Other Intellectual Property - Although the majority of this information will not be fully disclosed or revealed until the due diligence phase, having this information prepared in advance will allow for a more timely process and help to attract a diverse group of buyers.

• Stockholder Agreements - Similar to the schedule of indebtedness and lease obligations, stockholder agreements are most important to a buyer considering an ownership stake in the existing company. However, even a buyer purchasing the assets will want to know that no outside entities have a claim to these assets.

• List of Competitors - Providing a list of competitors to your broker / intermediary will not only help insure that the proper precautions are taken to maintain confidentiality but, it may also provide a starting point for uncovering potential acquirers.

Not all of this information may be readily available or necessary to complete your transaction. However, the more information that you can provide your broker / intermediary about your business the better job they can do in marketing your business. The result of your hard work will be more buyers brought to the table by your broker / intermediary, all competing for your business.

The New 80-20 Rule For Business? By Linda Feinholz

To an outsider, watching my day might be completely confusing, as I do plenty of tasks that don't appear to have anything to do with my work. I know, though, exactly why I'm using my private 80-20 formula: 80 percent of my time is on 'business' and 20 percent is on 'being fit and limber for business.'

As I drove to the office supplies store today I found myself reflecting on the irony - my income has quadrupled and my responsibilities have spread, down, down, down. From strategist to file clerk. Maybe you're experiencing the same discovery?

Fourteen years ago I did strategic planning and operations analysis and leadership training and management skills coaching... as an inside consultant at one of the Disney business units. My time was spent with the top tier of business leaders in that multi-national corporation. My day was neatly organized and so was my office.

I had one file cabinet, one bookcase, one white board and pictures up on the wall. Back then, I straightened my project folders on the corner of my desk, turned out the light and walked out the door with ease.

My time at work consisted of 80-percent meetings, and 20-percent working on material to discuss in the meetings. And that filled a very full week. My hours outside of work had me limber and fresh and ready to head back each day.

Like many of you, I chose the 'more' entrepreneurial route and its unexpected complexities. I thought it would all be simpler and more straightforward. Sell work. Deliver work. Instead, I've gone from tight control over all of my attention at the office, to having twelve times as many issues call on my attention, including the sorting rack for my office.

I've got triple the files and bookcases (even after tossing out 60 percent earlier this year). I've counted 400% as many 'projects' when all my business development notes, client files, project folders and now radio show To Dos are lined up. All for my attention this week.

On a purely intellectual basis, it's a real diversion of a high priced resource for me to be standing comparing desk sorters. On a physical basis, it's a high priority task. I've got too many different things I'm working on to shoehorn papers into a system that isn't exactly how I want it at hand.

And from an emotional point of view, it's a relief to have my systems set up exactly how I want them so I'm motivated to come back to them the next day.

What does my time consist of? I think. I write. I calendar meetings.

My workday is no longer 8 a.m. to 6 p.m. focused on projects. Instead, it's a blend of marketing to attract clients, doing client work, and designing the work I want to be doing in the future.

One of my long time mentors, Kendall SummerHawk has a saying: Focus on what puts you closest to the money. I love that phrase! And it reminds me constantly to refresh where I'm putting my attention, and to know why.

Yet, for all that the "closest to the money" idea is a powerhouse one, it only tells a piece of the story when we're in charge of prioritizing it all. I like to say "Take the 80-20 Rule and re-divide it."

The 80-percent of my time is focused on 'money.' It now consists of 3 equal parts - one-third marketing, one-third client work, one-third designing the next offering I want to bring to market.

And the 20-percent looks a lot like 'rest, recreation and wandering around' to someone else. In that corporate setting, I was walking from building to building going between meetings each day. Today, I might sit for 8, 12, 16 hours without moving if it were not for those 'errands' I put myself on.

Scientists have noted for years that their breakthrough discoveries come to them when they're in the shower, on their bikes, doing anything other than focused work. And I've discovered the same process holds true for me as well.

In fact while my body is in motion on seemingly mundane tasks, activities that cannot be billed to any client, my mind is in motion, too. I'm observing, reading, pondering. I'm creating new ideas and insights that I then bring to my clients.

So excuse, me, won't you? I'm off to limber up pulling weeds for 10 minutes and have a breakthrough moment.

The Bailout Package is the Start of a New Era For Businesses By Philip Casini

The bail out package is tactically a fix for the banking woes. But it also should serve as a strategic wake up call that the days of highly leveraged businesses are over, and a new era of "credit thin" business has begun. The enormous amount of leverage that businesses small, medium, and large could depend on from the banking community to grow is no longer available. And it went away really fast. Yes, the lending process will return, but it will only do so in a modest form compared to the way it was just a short time ago. The cost of financing will now be high, because banks simply don't have the markets anymore to support the lending levels they once did.

Companies that make the necessary business adjustments and transition to the new era are the ones that will survive. So what can you do for our business? Assuming that top priority now has to be remaining cash flow positive, look in new places for efficiency gains within the company that will allow you to operate in the new era. One of the hidden areas may be in the product or service development processes.

There is a great imbalance in many companies today between the enormous efficiencies of outbound marketing and sales, and the ability to serve the opportunities uncovered. The internet revolutionized outbound marketing. Public relations, marketing communications, and target marketing directly to your customer can now be done at a fraction of the cost compared to just a few short years ago. Internet marketing uncovers selling opportunities all the time. But the infrastructure for creating the products and services needed to deliver on these new opportunities has not evolved as quickly. A gap has formed which results in lost sales. Resolving this gap is a potential source for new found profits. The transformation of the product or service development process can affect both the revenue and the cost side of profitability , making it an attractive place to start the transition.

A revenue growth strategy that allows companies to aggregate targeted customer needs, rather than a one-size-fits-all product or service for a broader market, means that the opportunities uncovered by the internet marketing can be can be captured with a high sales success rate. High margin opportunities can be a larger part of the mix. As the opportunities aggregate, the product or service as a whole will contribute more margins.

From the cost perspective, the process has to manage several, if not many, product or service derivatives. While derivative development has been unpopular of late, and seemingly counter to the mantra of focusing on core competencies, the reality of target marketing is that the customers increasingly expect to get exactly what they want. Almost want they want is a lost sale. At some level then, a product or service derivative strategy must be formed. In order to do this, a product or service management process must integrate engineering, sales, marketing, and support services much more tightly so that reaction to rapidly changing market requirements can be managed effectively and efficiently. This calls for a departure from the "survey the market-build the product or service- and sell to customer" approach which no longer works. The process has to become more "find a customer-have the base product ready- make the changes to fit the exact needs rapidly- and deliver". This is much more a customer driven process.

Changing both revenue and cost side strategies, using product or service development process as a the cornerstone, can have a multiplicative effect on profits. This is why making the investments now to realize these gains is perhaps number one agenda topic for all businesses as the new era begins.