Five kinds of people that crisis would reveal in your organization!

         Why you need a crisis in your business

          One of the great things a crisis would do for your business or organization is it will help you define the kind of people you work with. Let's face it, even though it sounds Machiavellian, if there are no crises you ought to invent one, just to see how people around you would react. Never over the look the fact that within your work force, there are different kinds of people with different motives. Some are there just for the pay packet and benefits they can get out of it; others really have the very interest of you, the leader or the organization at heart. There are those who just like the prestige and power that your organization presents to them. Any sign of losing those privileges and the man who is not there for noble as well as gainful purposes would begin to turn. You would see different characters and characteristics emerge; often, things you did not bargain for or see clearly when you were taking these people on would begin to stare you in the face.
             The most common kind of crisis is the one that bothers on finance. Any sign that an organization would not be able to meet its obligations would send panic right through the organization and also cause jitters among those who work there. Remuneration is very important for the very existence of every organization; without it, the confidence of those who work there begins to melt and fade until attrition sets in. It would be dangerous to let staff know that the organization has financial challenges. But trials can be conducted in the form of delay of allowances or salaries for a couple of days, or requests for employees to invest monies in organizational activity that could be beneficial. Such activity as cooperatives, shares buying schemes(for private organizations) and learning facilities in which the employees is required to contribute a token for self development. 
             Other crisis that might emerge could have to do with leadership of the organization and strategy. Every organization reaches a cul-de-sac or a period of confusion over the way forward. Strategic planning is supposed to take care of such activity but often we find that followers tend to disagree greatly with leaders over the future endeavors and prospects of an organization. This disagreement in itself is a crisis.Although strategy challenges are mostly resolved in favor of the leadership who are expected to know better than the followers, the outcome is not always peace, tranquility and healthy commencement of activity. Schisms, conflicts and inbred bitterness occurs that could erupt into larger crisis in the future. 
             Your crisis would reveal the presence of five kinds of people in your organization. Know them, so you might know how to deal with them:

1.      Loyal people; These are people who identify with your cause and your ideas, its very difficult to sway them from what they believe in. Loyal people are wont to follow other people that inspire them with great visions which they buy into. These visions are usually for the greater good and would benefit a number of people within the group. Loyal people are not usually easy to buy over once the make up their minds. They are usually noble and honorable people who stand for what is right and ethical.

2.           Disloyal people: The opposite of the loyal people are the disloyal. Hardly would the crisis erupt than you would see them change in their attitude towards work. They hardly ever keep their feelings to themselves. They would try to win members and even start a movement within an  organization with disgruntled feelings and anger being the rallying point. Some of them have the mastered the ability to hide their true feelings but in the midst of a crisis you would see these feelings coming out in the different ways.

3.         Grateful people: Its error to think that grateful people are those who were disadvantaged and were given opportunities to rise to advantageous positions Grateful people are those who appreciate and use everything thing and every person that comes to their way to the best of their knowledge. They see things around them as gifts and they quick to recognize that whatever they have could have gone to someone else.

4          .Ungrateful people: Ungrateful people are the direct opposite of grateful people. They often believe that the world owes them something, and that governments, organizations and people owe them something, and if those things they believe they are owed are not coming forth, they are ready to ferment trouble. Let's note here that many of the claims to what they believe that they are owed are not accurate.

   5 .      Opportunists: We often say that opportunities knock but once! Well, that's not entirely accurate. You opportunities come to those who look for them and  are prepared to grasp them. Many people could begin as opportunists but later fall into one of the other categories of people we have mentioned. Often opportunists are seen as people who are not sincere and could turn their beliefs and philosophies at the drop of a hat. They are often described as fair weather people who move with a turn of the wind. But that is not always the case with them. Opportunists are people who are quick to change their minds about situations and other people, but when they find something they truly believe in, they stick to it. 

Cures for bad customer service

  Cures for bad customer service

Customer serivce training is increasing by the day. Every organization is concerned about retaining old customers and winning over new ones. Customer service is the frontier where major organizations will compete in the future, especially if they provide similar products and services. How they serve the customer might be the only way they can differentiate what they do.

Types of customer service:

Here is my working list of 8 types of customer service. Note that I’m making these up as I go along.
1. High Touch Customer Service
This is a popular style of customer service in high-end stores. There’s a well refined script that involves approaching customers when they enter and saying something they can agree with (e.g. “isn’t it a nice day?”), wandering off and straightening things, then watching them and re-approaching when they express interest in something and proceeding with a soft-sell. When done correctly this leads to great experiences for customers and companies.

2. Low Touch Customer Service
  No assistance at all unless you want to make a return, then they just take the item back and give you your money. Strangely this strategy can breed more loyalty than high-touch service, probably because it is often combined with super low prices.
Online example: Google, where it is nearly impossible to get in touch with a human employee but nobody seems to mind.
3. Bad Touch Customer Service
This is the bastard cousin of 1 and 2. Employees are in the store but are not helpful. They follow you around and try to make sales but don’t actually have the information or authority to provide good service. This is often the result of commission based pay for medium to low priced goods. Making returns is impossible, and customer loyalty takes a back seat to this week’s sales. I bet the bathroom in this place is disgusting.

4. Transparent Customer Service
You can see exactly how things are working and are welcome to manage things at the level you like. You can talk to the customer service and get the product exactly as you like it.
5. Understanding but Inflexible Customer Service
This is sometimes a hard one to spot. The customer service person listens to you, tries to understand your problem, acknowledges how frustrating it is, then tells you that the company is prepared to do absolutely nothing to remedy the situation. 

6. Clueless Customer Service
This one is frighteningly common, especially in call centers. The Customer Service person is given no training whatsoever, and is generally reading from a set script. They don’t work for the company, don’t understand the product, don’t use the product, and are primarily judged by how fast they can get you off the phone. You can never get the same person twice, so you have to re-describe your problem to each person. If your question is outside the set scripts they can do literally nothing for you.

7. Evil Customer Service
  It isn’t nice to call people (or even companies) evil, but this strategy is certainly evil. The goal is to trick customers into paying more or agreeing to something by using extremely specific language and refusing to stop talking. It sounds like they’re saying one thing when they’re actually saying another. Rather than doing what you ask they bully you into doing what the company wants.

8. Perfect Customer Service
 . When you call them a human answers every time, and it’s the same person who helps me in the branch office, who always knows exactly how to solve any problem. If I’m in danger of overdrawing my account they call me and let me know. They send a   messenger to pick up deposits.  When you go there in the morning they have fresh  snacks.   When customers find one of these you find one of these companies they  hold onto it with all there might.

 Nine ways to improve your customer satisfaction

“The customer experience is the next competitive battleground.” Jerry Gregoire, CIO of Dell Computers
In a business world where customer acquisition costs are sky-rocketing, small and medium businesses must focus on building a customer experience to increase customer satisfaction.
Here are nine game-changing ideas to help you 

1. Treat your customers like they are your boss

  Your customer is your salary. With no customers, there’s nobody to pay you! By taking this approach to every customer interaction you can naturally flip the angle on customer service.
Picture yourself as the boss… if your employee treated every customer the way they treated you, how good would the service be!
Here are some of the approaches we recommend businesses use:

• Thank all your customers for their business
• Go out your way to help customers
• Try to impress your customers as if you want a pay raise
• Think about your salary every time you talk to a customer
• Keep your promises and integrity

2. Focus on measuring customer satisfaction

Did you know that 91% of your unhappy customers will never purchase services from you again? Measuring customer satisfaction can help you reduce the number of unhappy customers.
So how do you measure customer satisfaction?

3. Build customer loyalty to increase customer satisfaction

Customer satisfaction is worthless. Customer loyalty is priceless.
- Jeffrey Gitomer

I agree with Jeffery and have included  four  ways to build customer loyalty to increase customer satisfaction:

• Remember special occasions like birthdays
• Strive to empower and educate customers
•  Top level managers must lead from the front with customer service
• Talk to your customers, tap into what they want and deliver

4. Avoid making these customer retention mistakes

No business is immune to unhappy customers. In fact, even companies with the best customer service in the world will still lose up to 9% of their customers to competitors.
The good news is you can do something to stop customers defecting. Here are three common customer retention mistakes that are killing your customer satisfaction:

• You are ignoring customer feedback
• You are taking customer feedback too personally
• You are using long, boring customer feedback surveys

5. Set customer expectations early

Setting expectations too high is a common mistake a lot of businesses (and salespeople) make when bringing on new business.
If you’re like most businesses, you’ve probably had the  over promising salesperson.
For those who still have these wild ones, my advice – get them in line! They are killing your customer satisfaction by setting expectations too high!
 We recommend under promising and over delivering.
There’s no better feeling than as a customer to have your expectations exceeded.

6. Learn how to survey your customers the right way

A customer feedback survey is the best way to find out how satisfied your customers are, find ways to improve your product or service, and identify customer advocates who really love your product.

7. Communication marketing is the best way to increase customer satisfaction

59% of B2B marketers believe communication marketing is still the most effective channel in generating revenue.
If it’s so good for marketers, why don’t we use it more to increase customer satisfaction?

8. Tap into social media to track and monitor customer satisfaction so you can keep your customers happy

If It costs a company $200 every time they lose a customer. Can you afford to not be monitoring and tracking customer satisfaction?
With your customers now using their mobile phones up to 150 times per day, it’s important to recognize that they might turn to social media to leave their customer complaints
Your job is to make sure you use social media monitoring tools to keep track of positive and negative feedback, and resolve them accordingly.

9. Statistics don’t lie, understand the importance of customer satisfaction by looking at your statistics

A test for entrepreneurs: Take it and see if you really qualify!

Think like an entrepreneur

If you're thinking about starting your own business, take the test. See if you have a background and personality consistent with a high probability of success in running your own business. Read it carefully and answer the questions honestly. No one is going to see the results but you. The questions are designed to stimulate introspection. Think carefully about each issue. Choose an answer before looking at the explanation. Record that answer and then read the question's explanation. Mark those questions in which your answer indicates that you wouldn't make a good entrepreneur, and come back and think about them again after considering all the questions. Have your pen and paper ready? Great, proceed now. QUESTIONS FOR SELF-EXAMINATION Are you a self-starter? I generate work for myself and others. I am adept at solving well-defined problems. I complete any assignments in an outstanding way and look to my boss for the next one. Do you like and get along with people? I have rarely met anyone I didn't like and respect. I have a few good friends that I enjoy, but have little interest in knowing a great many people. I'm not antisocial, but the great majority of people are jerks. Has your career so far been primarily in: Small business (less than 200 employees)? Medium-sized business (200 to 1,000 employees)? Large business (over 1,000 employees)? Government or nonprofit organizations? Did you engage in business activity as a child or teenager? I started one or more businesses of my own. I worked all the time in a series of part-time and summer jobs. I worked when I had to. How old are you now? 20's. 30's. 40's. Over 50. Have you ever been fired (not laid off) because you just didn't get along with your boss or the environment? More than once. Once. Never. What is your main reason for considering your own business? To be my own boss. For prestige and recognition. To get rich. How would you react if you started a business and it failed, losing most or all of your savings in the process? I'd learn from my mistakes and start over. I'd be very shaken but would eventually recover. That would be a disaster; I'd be devastated; I don't know what I'd do. What kind of gamble interests you the most? A long short with odds of 100 to 1 or more in which you can make a real killing (a payoff of 100 to 1 or more). A game in which the odds are against you (say 3 to 1) but in which you can improve your chances of winning by developing your skill at the game. How much management experience have you had? Several years supervising a variety of people and projects. A little. None. Do you become totally involved in your work, tending to talk about it over meals with your family, to friends, at parties, etc.? Yes, definitely. Mildly, but I'm not compulsive about it. No. I keep my business and personal lives separate. Are you prepared to work 80 or more hours a week for an indefinite number of years? Yes, and I'm excited about the prospect. Yes, if I have to, but I will look forward to the time when the business is secure enough for me to take it a little easier. No, that shouldn't be necessary except in the beginning. I'll work smart enough to put in reasonable hours. When you engage in competitive activities (sports, games, etc.) what is most important to you? Winning. Playing with style, grace, and good sportsmanship. Enjoying myself and getting a good workout. Do you belong to and actively participate in church groups, civic organizations, social and fraternal clubs, political organizations? Yes. I'm a real joiner. I belong to five or more organizations. I go to meetings regularly, participate actively, and run for offices often. I belong to a few organizations but am not too active in most of them. No. I try to stay away from such activities as they take energy away from my work. Do you like to solve problems yourself, or are you okay with getting help and advice from an expert? I don't like reinventing the wheel. The first thing I do when faced with a problem is to look around for someone who has already solved the same dilemm   I work on things myself for a while and look for outside help if I get stuck. I take pride in working out my own solutions to my own problems. How do you handle getting several tasks done at the same time? I'm able to get a number of things underway at once, dividing my time between them. I'm able to switch my attention to the hottest item and then return to the others without losing much momentum. In fact, I enjoy the variety of working this way. I find tasks yield to concentrated effort. I like to work hard on one thing until it's completed, then move on to the next item. How do you rate your organizational abilities? Great. I always know where I am and where I'm going. I force the people under me to function in the same way. Fair to good. I generally know what's going on, but occasionally get lost. I'm a mess. How is your health and energy? I'm in excellent health. I have a great deal of energy and almost never get sick. I have an average level of health and energy. I have a significant health problem and am tired a lot. Are you unemployed? No. I'm considering leaving my current job to start my own business. Yes, but I'm been considering my own business for some time and would have quit pretty soon anyway. Yes, I was recently laid off and I thought I'd look into starting my own business while I'm also looking for another jo   How do you handle conflict of interest (as in dissatisfied customers or firing employees)? I don't like it, but I get through it as quickly as possible and put it behind me. I rather enjoy conflict and winning by dominating others. I can't stand fights. I get through them, but it takes me days to recover emotionally. How do you feel about authority? I like running my own show but can accept authority that I feel is legitimate. I have to be able to do things my own way. I'm most comfortable when I have an authority figure to look up to. Can you make decisions? I can weigh the pros and cons and make a decision quickly. The outcome is usually pretty good. I make good decisions, but it takes me a long time. I will not be rushed in important matters. I'm uncomfortable making important decisions. ANSWERS: 1. Are you a self-starter? A small business owner must have drive and initiative. He or she has to be the prime mover for getting things done day in and day out. Some people say that this is the single most important characteristic of an entrepreneur. Unfortunately, it's sometimes hard to tell if you have this characteristic if you've spent most of your career in a corporate job in which all of your work is initiated for you by someone else. If you chose (a) and consistently generate your own ideas (event in a corporate setting), you have an advantage over those who wait for others to set their goals. 2. Do you like and get along with people? Nearly all small businesses succeed through people, primarily customers and employees. People who don't genuinely enjoy interpersonal contact on a regular basis are at a distinct disadvantage. Many start-up opportunities are in service businesses where personal contact is especially important. If you can honestly answer (a), you are better equipped to function in a small business environment that if not. 3. Has your career so far been primarily in: Small business (less than 200 employees); Medium-sized business (200 to 1,000 employees); Large business (over 1,000 employees); Government or nonprofit organizations? The most valuable experience for your own small business is (a), working in someone else's small business, especially in the same field. Big business and government experience can actually be a detriment, because the characteristics for success in those areas are often negatives in an entrepreneur. Further, the small business environment is something that must be experienced to be fully understood. If you've never been there, it's hard to know just what you're getting into. 4. Did you engage in business activity as a child or teenager? The work ethic and entrepreneurial drive show up early; (a) is the most encouraging answer. If you didn't have it when you were young, you're less likely to develop it later on. 5. How old are you now? For what it's worth, more successful entrepreneurs seem to start in their 30's than at other ages. This age seems to combine enough experience with enough youth to be enthusiastic. 6. Have you ever been fired (not laid off) because you just didn't get along with your boss or the environment? Within reason, it's better to have been fired. Entrepreneurs don't like working in someone else's structured organization, and they often make waves about it. They often have trouble with authority and are vocal if they don't agree with the way things are done. Be careful, though, a continuous history of firings can mean you have a serious personality problem. 7. What is your main reason for considering your own business? (a) or (b) put you in the entrepreneur's profile. The most pervasive characteristic of entrepreneurs is that they don't like working for someone else. They like to call the shots themselves. They also tend to be extroverts who crave recognition. Money is nice but of secondary importance. 8. How would you react if you started a business and it failed, losing most or all of your savings in the process? Many if not most successful entrepreneurs have started more than once. Failure is a very real part of small business. It is essential that an entrepreneur be resilient and able to bounce back. If you chose (c), think hard about this whole idea. 9. What kind of gamble interests you the most? Contrary to popular belief, entrepreneurs are not big risk takers. They don't like to gamble, but are willing to take calculated risks as in (b). 10.How much management experience have you had? A small business owner has to manage people to be successful. It's better to have made your managerial mistakes on someone else's payroll. (a) is the preferred background. 11. Do you become totally involved in your work, tending to talk about it over meals with your family, to friends, at parties, etc.? The best entrepreneurs devote their entire energy to their businesses. they live, eat, drink, and sleep their business. If you don't do that and your competitor does, who do you think is likely to win? Some people don't have that kind of dedication regardless of how hard they try. Some have it for whatever job they're doing. Some have it only for a certain field in which they're particularly interested. If you never experience an all-consuming affinity for work, think twice about small business. If you can only generate this kind of enthusiasm for a particular field that fascinates you, be sure that's the field your business is in. 12. Are you prepared to work 80 or more hours a week for an indefinite number of years? Small business has been described as working 16 hours a day to get away from an 8-hour-a-day job. Experience indicates that successful entrepreneurs work terribly long hours for many years before they get to relax. If you can't honestly choose (a) or at least (b), you may want to rethink your plans. 13. When you engage in competitive activities (sports, games, etc.) what is most important to you? Small business is an extremely competitive world. The best entrepreneurs fixate on winning, on being better than the other guy. 14. Do you belong to and actively participate in church groups, civic organizations, social and fraternal clubs, political organizations? Answer (a) is the best. Successful entrepreneurs tend to be outgoing people who love social contact and genuinely enjoy meetings and groups. The contacts that they make in these groups are very helpful to their businesses. If you aren't already the joiner type, don't expect to change and become one when you start your own business. 15. Do you like to solve problems yourself, or are you okay with getting help and advice from an expert? Effective businesspeople get the best answer as quickly as possible. That usually means looking to an expert---answer (a)---even if you have to pay them. 16. How do you handle getting several tasks done at the same time? Small business ownership is like a juggling act. You have to keep at least a dozen halls in the air all the time. If you can't divide your attention among several concurrent activities, you're almost certain to fail. Answer (a) is best, but this is a skill that can be learned. 17. How do you rate your organizational abilities? The ability to organize people and tasks is an extremely important entrepreneurial task. A disorganized business is generally losing customers and money. If you're not an organized person now, the type who would honestly answer (a) or (b), you probably won't become one by going into business. 18. How is your health and energy? If you haven't gotten the idea by now, your own small business is going to be a tough, stressful grind. If you didn't answer (a), and don't have a great deal of physical and emotional strength and stamina, you'd better think twice. 19. Are you unemployed? (a) is the most promising answer; (c) can be a disaster. It's rarely a good idea to try to buy a job by starting a business. If you weren't motivated to do it before you lost your job, you're probably not going to be a good entrepreneur now. Getting fired can be a lot like getting divorced. You're very vulnerable for quite some time afterward. Be doubly careful before making any major commitments. (Don't confuse this with question 6---we're driving at a different issue here. It's okay to have been fired in the past because you were independent5, but it's not a great idea to think of small business as a way to create a job if you've just been let go). 20. How do you handle conflict of interest (as in dissatisfied customers or firing employees)? Conflicts are a way of life in business. In small business, the buck stops at the owner. There are conflicts with customers, suppliers, and employees all the time. In franchising, there's an added element, conflicts with the franchiser. An entrepreneur has to be able to deal with conflict without letting it get him down. Answers (a) and (b) are okay. Answer (c) may be a real problem. If you find conflict devastating, small business may be your route to a nervous breakdown! 21. How do you feel about authority? The desire for independence is one of the primary motivators among successful entrepreneurs. Answer (b) indicates that you fit the profile. However, an obsession with independence can spell trouble. No one can be completely independent, especially of customers. Too independent an attitude can be a real problem if your business is a franchise. A franchisee has to be willing to accept the franchiser's model of the business. If you sign the franchise agreement and can't do it their way, you risk losing your investment. In that case, answer (a) is best. It reflects an independent personality but not one so fiercely freedom-loving that it cannot survive within a structure of rules. 22. Can you make decisions? Decision-making is what entrepreneurs do for a living. The ability to make reasonably quick choices and live with the outcome is an absolutely essential characteristic. (a) is the best answer, (b) is a poor second, while (c) should raise a warning flag. Do you have the right stuff? If so, it may be the beginning of the most exciting time in your life. If not, it's better to find out now. If you came up with a majority of negative responses, you probably shouldn't go into your own business. If you're like most people, you'll fall in the middle of the road on most issues. In that case, you may want to go ahead, but be careful that you really understand what you're getting into. Good luck with whatever you decide  By William Laser PHD

here is a power within us. Some people call it inner strength. But the greatest and most accurate reference to it is the Holy Spirit. If the same spirit that raised Jesus Christ from the dead would come upon us, it would quicken our mortal bodies. As soon as we persue a special relationship with God we possess this power.
We are already "endowed" with the power to do amazing things -- far more amazing than most of us will ever attempt -- if we'd only understand and BELIEVE that the power is within, not without. He has placed it within us. So let us learn to use it. And we will overcome all obstacles.

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LIfestyle traps you ought to avoid in the corporate world

Life expectancy in most African Countries these days is 57 years. Those of us who are educated and enlightened do not take care of our bodies. We put all kinds of junk in our system in form of drugs, alcohol and unhealthy food and live in air conditioning from house to car to office and back again. The general observations of lifestyle experts is that we are killing ourselves. And the lack of proper health facilities is not helping one bit. The habits often start from when we are young. Peer pressure and group activity makes us experiment with some of these social traps and sometimes we get hooked all way into adulthood. 
Those who drink as young adults are more likely to be victims of sexually transmitted diseases(STDs). Increasingly we appear to be raising a generation of people who have been smitten by these situations in their youth. Liver disease, heart attacks and various forms of cancers is often the resultant effect of this lifestyle. Smoking has led to infertility in men and women and there have even been cases of low sperm count, low libido and inability to conceive on the part of the women. According to NHS choices http://www.nhs.uk/Livewell/studenthealth/Pages/Smoking,alcoholanddrugs.aspx the indulgence can also lead to gum disease and the smoking habits has included an experimentation with Cannabis and other drugs by youngsters between the ages of 16 and 24!
The pressure of work can often push an adult into the use of drugs and alcohol as a way of escape and relief from pressure. Research among adults in Africa has shown that four out of every 10 working class men drink after a hard days work. Quite a few of them prefer beer and spirits while the rest are merely social or occasional drinkers. Smoking of different kinds of tobacco has however reduced in many countries because of the ban on advertisement and laws in some countries that prohibit smoking in public places. Harder drugs such as street cocaine called crack are still being used as social drugs among classes of people who can afford the relatively expensive habit. But the over reliance in many countries is on Cannabis which is sold freely on the street in many countries of the world. 
Cocaine and Cannabis use can both lead to dependence by the users and have drastic consequences on their lives. Experts say frequent users could descend into states of paranoia and depression and end up being hooked for long periods of time. Basically the life styles to choose to relief stress and low feelings is to get entertained, exercise and to take holidays as frequently as possible. Sufferers from addiction to any of these drugs are advised to get counseling and clinical help before the habits get out of hand.  

Understand your marketing environment now! It will make you rich!

•   Marketers do not operate in a vacuum there are a number of factors that come from the environment that people who operate there must understand. The first thing we must really understand is that each marketing environment has challenges, traits, behavioral paradigms and product preferences. By observing the market we operate in and talking to people who trade there, we can get a proper grasp of all of these and be able to know how to structure our business to suit our discoveries. 

      

 Children affect the way we do business

       A lot of these peculiarities are guided by specific cultural values which inform our Interests, moral obligations, desires, wants, needs and many other attractions:  Some of the factors that affect every marketing environment are:

•        Godliness-Many countries of the world believe in God and this belief affects how they behave in their businesses and work environments as well as how they do business. There are not many countries that refuse to acknowledge the presence of a supreme being, and even where it appears to be against the policy of a country to acknowledge God, we find that many people in such countries have begun to turn to hidden worship centres to seek a relationship with the Almighty.  
•         Age is respected in numerous countries of the world. Many countries see senior citizens and people who have served in one category or the other on behalf of their governments for a long time as people to be respected. Signs of old age should attract respect from younger people and this also has an effect on how we do business. In a countries where we have aging populations like Norway, UK and Germany, goods and services would be developed for this category of people on a large scale. In such countries special products and services for the aged are on the market and have a large following among those who patronize. 
•         Honor, as in the recognition of achievement, is also a generally recognizable factor in various countries of the world. Every country has national honors and special paraphernalia which they use to honor outstanding achievement. Often we find that such people who are recognized are often linked to certain products and services to the advantage of different companies and countries at large. City officials have been known to give thriving businessmen "keys"to their cities as a mark of honor and these moves not only boost competition among businesses but also help to improve sales of goods and services.
•        Every nation has its hotels, resort centres and tourist attractions. Hospitality therefore becomes a major factor in this regard. Most nations have the habit of welcoming visitors, as a continuous inflow of visitors  who bring their money to the destinations and spend it induce indirect employment and a boost in the sales of various goods and services. Even though there are elements of suspicion in many cultures, generally, people of a country tend to be hospitable when they understand that their countries could  benefit from visitors. 
•         

  

  Gratitude is important

•        Gratitude is also a factor. How do people say thank you? What are the common gifts that are given out on as presents during a celebration. Easter eggs are popular in the UK, but not so popular in many other parts of the world. Turkey is a common feature for thanksgiving in the United States. If we do a study of the environment we live in it would help us understand some of these things. 
•         National pride is also a behavioral trait that  affects the way we do business. Most people love their country and get involved in peculiar behaviors such as saluting their national flags, singing national anthems and observing the significance and importance of national monuments. The citizens of the United States are immensely proud of their country. This pride rings loudly during war between countries, sporting competitions and when natural disasters occur. Products that promote pride can be a hit during ceremonies of national importance. 
•        Mothers, motherhood and motherliness is a great factor that most countries observe. "She who rocks the cradle rules the world", goes the saying.  A country that revers mothers would give them due recognition and this would be embedded in the product marketing and sales, not just on mothers' day, but all year round. 
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•        Every society recognizes and panders to the innocence of children. Children account for almost half of the expenses that working adults incur: clothing, baby food, toys, schooling, playgrounds, health etc. The baby market is billion dollar one that is big everywhere in the world. Children are given prominence in all walks of life. No matter what. 
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•         Corruption is also a major factor. Countries around the world suffer from corruption and do their best to fight it. The will to fight corruption is probably what has led to cashless purchases and banking transfers. The latter day thinking encourages the reduction of cash in circulation. Credit cards, money transfers and cashless payment machines have been introduced today more than ever before. They all affect the way we do business and some people have made a business out of creating cashless purchase solutions. The processes enable monitoring authorities to track money and resolve crimes bothering on fraud and corruption. But people still give and receive bribes to get things done in many countries of the world.

•         The recognition of the family as the most important unit of existence also affects the way we do business around the world today. There are hundreds of thousands of products that focus on the family: from television and radio shows to holidays and clothing as well as travel arrangements. Many countries have a focus on old family values as a major point of reference for their national pride.

The ultimate guide on how to Carve that business niche

      

         Not every business idea would serve everybody. As such, some businesses are niche based. In other words, they are focused on a certain group of people. They cater for the needs, desires and tastes of a certain category of people.  It is important for you to know who you are in business to serve. Once you know that, it is less difficult for you to provide your service or product to the right customer. Businesses that are niche based usually focus on a narrow market. Sometimes that market is defined by age, status, education, sex or race, color, language and culture.  Niche business people usually cater for the neglected or the unexpected. Their strategy is to think in an different way from the generality of people who are in marketing and sales. 

Nouhad Kalmoni Chief Executive Officer of Silver Star

 

       Niche is not always rich!  Sometimes when the term is mentioned in business we think of exclusive and expensive items: cars like Jaguar, Mercedes Benz and Rolls Royce or expensive champagnes like the ones Alexander Amosu created way back in 2009 which has been touted the most expensive champagne in the world. Amosu asked  Olanike Fagbule "“When I can create one thing and make millions, why will I want to make a hundred substandard ones and make the same amount?” Amosu believes work smart makes up for working hard!

        Nouhad Kalmoni Chief Executive Officer of Silver Star, marketers and repairers of Mercedes Benz in Ghana once told me how he brought  top of the range Mercedes cars in Accra, sold them at a premium and was able to recover all of his money with the profit in couple of weeks. "I knew who would buy the cars!" Was his simple explanation. Such is the business of niche.  Silver Star has one of the best Mercedes Benz workshops in West Africa. 

      

      Sometimes you might find yourself catering for a small not too rich but exclusive group who cannot find certain products in their immediate environment. Foods is a good example. A relative of mine once imported Ghanaian cassava meal to the UK and Ireland for the Ghanaian population that lived there. There were alternatives to that food. But those people preferred their own. In meeting that taste my cousin was able to cut out an exclusive market for himself. 

       In Yaba area of Lagos, there used to be a professional tailor known as Kesse Jabari, Jabari who is presently running his business in the United States used cut suits for celebrities in Nigeria. His style and his cut was so impressive that he was soon able to have a continuous flow of clientele from different business sectors in Nigeria. He had carved a niche for himself on the fashion landscape of the country. He has continued his craft in the US where a large number of celebrities don't really like ready made suits because they do not fit properly. 

 Here five things to note about carving a niche.

1. Simplify and make the product the easiest to use and let it be accessible

2. Use the popular media as carefully as possible to push the product forward

3. Be distinctively relevant in the area that you have chosen

4. Identify with the group you have chosen to serve the product or service.

5. Look for different ways to approach your customers. Be different. Be new try to be exclusive.Niche marketers don't follow the trend.

 

Lessons you can learn from Warren Buffet

Warren Edward Buffett is an American business magnate, investor and philanthropist. He is considered by some to be one of the most successful investors in the world.

 Warren Edward Buffett is an American business magnate, investor and philanthropist. He is considered by some to be one of the most successful investors in the world.

By Cullen Roche  Pragmatic Capitalists-

In no way does our thinking about currencies rest on doubts about America. We live in an extraordinarily rich country, the product of a system that values market economics, the rule of law and equality of opportunity. Our economy is far and away the strongest in the world and will continue to be. We are lucky to live here. – 2004 Shareholder Letter

The U.S., it should be emphasized, is extraordinarily rich and will get richer. – 2005 Shareholder Letter

I want to emphasize that even though our course is unwise, Americans will live better ten or twenty years from now than they do today. Per-capita wealth will increase. – 2006 Shareholder Letter

Without fail, however, we’ve overcome [challenges to our country’s future]. In the face of those obstacles – and many others – the real standard of living for Americans improved nearly seven-fold during the 1900s, while the Dow Jones Industrials rose from 66 to 11,497. Compare the record of this period with the dozens of centuries during which humans secured only tiny gains, if any, in how they lived. Though the path has not been smooth, our economic system has worked extraordinarily well over time. It has unleashed human potential as no other system has, and it will continue to do so. America’s best days lie ahead. – 2008 Shareholder Letter

Money will always flow toward opportunity, and there is an abundance of that in America. Commentators today often talk of “great uncertainty.” But think back, for example, to December 6, 1941, October 18, 1987 and September 10, 2001. No matter how serene today may be, tomorrow is always uncertain.

Don’t let that reality spook you. Throughout my lifetime, politicians and pundits have constantly moaned about terrifying problems facing America. Yet our citizens now live an astonishing six times better than when I was born. The prophets of doom have overlooked the all-important factor that is certain: Human potential is far from exhausted, and the American system for unleashing that potential – a system that has worked wonders for over two centuries despite frequent interruptions for recessions and even a Civil War – remains alive and effective. We are not natively smarter than we were when our country was founded nor do we work harder. But look around you and see a world beyond the dreams of any colonial citizen. Now, as in 1776, 1861, 1932 and 1941, America’s best days lie ahead. – 2010 Shareholder Letter

Wise monetary and fiscal policies play an important role in tempering recessions, but these tools don’t create households nor eliminate excess housing units. Fortunately, demographics and our market system will restore the needed balance – probably before long. When that day comes, we will again build one million or more residential units annually. I believe pundits will be surprised at how far unemployment drops once that happens. They will then reawake to what has been true since 1776: America’s best days lie ahead. – 2011 Shareholder Letter

A thought for my fellow CEOs: Of course, the immediate future is uncertain; America has faced the unknown since 1776. It’s just that sometimes people focus on the myriad of uncertainties that always exist while at other times they ignore them (usually because the recent past has been uneventful).

American business will do fine over time. And stocks will do well just as certainly, since their fate is tied to business performance. Periodic setbacks will occur, yes, but investors and managers are in a game that is heavily stacked in their favor. – 2012 Shareholder Letter

Indeed, who has ever benefited during the past 237 years by betting against America? If you compare our country’s present condition to that existing in 1776, you have to rub your eyes in wonder. And the dynamism embedded in our market economy will continue to work its magic. America’s best days lie ahead. – 2013 Shareholder Letter

Indeed, who has ever benefited during the past 238 years by betting against America? If you compare our country’s present condition to that existing in 1776, you have to rub your eyes in wonder. In my lifetime alone, real per-capita U.S. output has sextupled. My parents could not have dreamed in 1930 of the world their son would see. Though the preachers of pessimism prattle endlessly about America’s problems, I’ve never seen one who wishes to emigrate (though I can think of a few for whom I would happily buy a one-way ticket). The dynamism embedded in our market economy will continue to work its magic. Gains won’t come in a smooth or uninterrupted manner; they never have. And we will regularly grumble about our government. But, most assuredly, America’s best days lie ahead. – 2014 Shareholder Letter

You can basically sum up Warren Buffett’s investment strategy as: “America’s best day’s lie ahead.”  The 2015 letter, not surprisingly, was no different as Buffett put things in the proper perspective:

“It’s an election year, and candidates can’t stop speaking about our country’s problems (which, of course, only they can solve). As a result of this negative drumbeat, many Americans now believe that their children will not live as well as they themselves do.

That view is dead wrong: The babies being born in America today are the luckiest crop in history.

American GDP per capita is now about $56,000. As I mentioned last year that – in real terms – is a staggering six times the amount in 1930, the year I was born, a leap far beyond the wildest dreams of my parents or their contemporaries. U.S. citizens are not intrinsically more intelligent today, nor do they work harder than did Americans in 1930. Rather, they work far more efficiently and thereby produce far more. This all-powerful trend is certain to continue: America’s economic magic remains alive and well.

Some commentators bemoan our current 2% per year growth in real GDP – and, yes, we would all like to see a higher rate. But let’s do some simple math using the much-lamented 2% figure. That rate, we will see, delivers astounding gains.

America’s population is growing about .8% per year (.5% from births minus deaths and .3% from net migration). Thus 2% of overall growth produces about 1.2% of per capita growth. That may not sound impressive. But in a single generation of, say, 25 years, that rate of growth leads to a gain of 34.4% in real GDP per capita. (Compounding’s effects produce the excess over the percentage that would result by simply multiplying 25 x 1.2%.) In turn, that 34.4% gain will produce a staggering $19,000 increase in real GDP per capita for the next generation. Were that to be distributed equally, the gain would be $76,000 annually for a family of four. Today’s politicians need not shed tears for tomorrow’s children.

Indeed, most of today’s children are doing well. All families in my upper middle-class neighborhood regularly enjoy a living standard better than that achieved by John D. Rockefeller Sr. at the time of my birth. His unparalleled fortune couldn’t buy what we now take for granted, whether the field is – to name just a few – transportation, entertainment, communication or medical services. Rockefeller certainly had power and fame; he could not, however, live as well as my neighbors now do.”

In a period of global economic weakness and excessive short-termism, it can be helpful to be reminded that there will always be challenges in the short-term. And while it would be irrational to be excessively optimistic all the time, it’s useful to remember that the greatest deterrent to most people’s wealth accumulation remains their excessive focus not on what can go right in the future, but on what might go wrong