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Article Check - Adding a Service After You Buy a Business
The notion of doing a business retreat for myself is very new, although not novel, as we used to conduct a retreat each year as a part of both the Student Affairs staff and the Residence Life staff at the college where I once worked. When I heard about this same concept for self-employed business owners from Chris Barrow of The Business Coaching Company, http://www.thebusinesscoachingco.com, I thought, "Why am I not doing that for myself?" Thus, my Ann
If you’re venturing into an entirely new area of business, do you have the workforce and infrastructure in place to handle the changes, or will you need to hire new talent, purchase new equipment e
Every May we celebrate Mother’s Day—a time to tell mothers everywhere how much we love and honor them. In the midst of all the holiday revelry we should take some time to reflect on just what this day represents—the end of nine months of waiting and the passage through birth’s doorway to a new beginning.When I became a mother, this holiday took on a whole new meaning—especially when my daughter graduated from college. Graduation ceremonies at h
However it can be hard to add a new service to a business, particularly when you’re unfamiliar with the workings of the company, as you probably will be when you buy a business. The best person to help you understand the company, and thus make it easier for you to expand its services, is of course the seller. You might want to consider working out a deal whereby the seller stays on board as a consultant for a specified period of time, helping you get your bearings.
1) Writing a Business Plan After You Buy a Business
Business plans are usually written when you want to start a new business; however, writing a business plan is an excellent way for you to lay out on paper exactly what the company is about, and understand what it does best, what its weak points are, etc. This will prove very helpful when you’re trying to work out how to go about adding a new service. Be open to advice from anyone in your company who might have a good idea.
How well does the service you want to add fit in with the current functioning of the company? If it’s an extension of areas the company is already involved in, is it a service that existing customers will need? Or will you need to spend money to market the new facets of the company?
If you’re venturing into an entirely new area of business, do you have the workforce and infrastructure in place to handle the changes, or will you need to hire new talent, purchase new equipment e
Life, and change management, and people’s behaviors, are not linear. Excuse my language – I’m assuming the reader’s understanding of mathematics is similar to mine, which is that I just about get it, and I’m ready to go back to the textbooks if necessary. So don’t panic, bear with me. There is something about our education that assumes linear connections and the proportionality of cause and effect. After all, ideas such as ‘the punishment must fit the c
1) Writing a Business Plan After You Buy a Business
Business plans are usually written when you want to start a new business; however, writing a business plan is an excellent way for you to lay out on paper exactly what the company is about, and understand what it does best, what its weak points are, etc. This will prove very helpful when you’re trying to work out how to go about adding a new service. Be open to advice from anyone in your company who might have a good idea.
How well does the service you want to add fit in with the current functioning of the company? If it’s an extension of areas the company is already involved in, is it a service that existing customers will need? Or will you need to spend money to market the new facets of the company?
If you’re venturing into an entirely new area of business, do you have the workforce and infrastructure in place to handle the changes, or will you need to hire new talent, purchase new equipment e
Staying in touch and up-to-date with customers is a very challenging problem for all retailers. For example, when a store advertises an upcoming sale of a product, it must develop a campaign strategy, visually design advertisements, submit advertisements, and wait for a publication to reach newsstands, all before results can be measured. This method is quickly becoming obsolete, as old methods yield to new ones. The inherent delays that come with the us
1) Writing a Business Plan After You Buy a Business
Business plans are usually written when you want to start a new business; however, writing a business plan is an excellent way for you to lay out on paper exactly what the company is about, and understand what it does best, what its weak points are, etc. This will prove very helpful when you’re trying to work out how to go about adding a new service. Be open to advice from anyone in your company who might have a good idea.
How well does the service you want to add fit in with the current functioning of the company? If it’s an extension of areas the company is already involved in, is it a service that existing customers will need? Or will you need to spend money to market the new facets of the company?
If you’re venturing into an entirely new area of business, do you have the workforce and infrastructure in place to handle the changes, or will you need to hire new talent, purchase new equipment e
I remember being interviewed by a writer for an article about effective meetings that was to appear in a national magazine. The writer began the interview by saying, “I don’t want any of the old standard tips; I want new tips.”I replied, “Well, people wouldn’t need new tips if they used the old tips.” This isn’t what the writer wanted to hear, nor is this what many of us want to hear, but this is the truth. If we used what we already know, we cou
How well does the service you want to add fit in with the current functioning of the company? If it’s an extension of areas the company is already involved in, is it a service that existing customers will need? Or will you need to spend money to market the new facets of the company?
If you’re venturing into an entirely new area of business, do you have the workforce and infrastructure in place to handle the changes, or will you need to hire new talent, purchase new equipment e
DO THIS AND YOU *WILL* SUCCEED Dr Kem ThompsonNow that you've laid the right foundation for your life (business included), you need to build on it.The quality of materials you build with, however, will determine the outcomes you get this year and in the future.One thing you must do in order to succeed is to purpose in your heart that you will be proactive in every area of your life, rather than being reactive.Be proacti
If you’re venturing into an entirely new area of business, do you have the workforce and infrastructure in place to handle the changes, or will you need to hire new talent, purchase new equipment etc.?
Share your thoughts with your employees and take their feedback very seriously. They are the ones who will ultimately execute your ideas and make them work.
2) What Do the Customers Want?
Your business sense aside, the customers’ ideas are easily your most valuable pointers to what your business needs. If you find several customers asking you whether you offer a particular service, that’s a clear indication of the natural direction in which the company can grow. Your existing customer base will provide sufficient momentum to your initiatives to ensure that they get a fair chance. If you please your existing customers, word-of-mouth referral alone will help the new areas of your business grow and you may find that you don’t need to market yourself aggressively at all.
3) Share Your Enthusiasm
Being a new boss, it’s important that your first few big ideas don’t fall flat, so err on the side of caution. Be a dynamic communicator so that you have the support of your employees and customers. Set realistic goals and motivate your employees into attaining them. Constantly revise progress with your team members, so that they feel that they’re a part of the change, and have a stake in making it work. The company’s enthusiasm will be passed onto the customers, giving any sensible business plan a good chance of success.
Timing is of the utmost importance, so be prepared to put your plans on hold until t
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