Four decades ago, a new employee likely expected to spend their entire career with the same company. As the years passed, they might rise through the ranks and receive enough on the job training to succeed in their role. Neither employee nor employer gave much thought to continuing an employee’s education. For this generation, there was a social contract between employers and employees. Loyalty was valued, and it went both ways. Companies rewarded longevity and loyalty and employees put company priorities before their own. It was also industry-standard for companies to offer pensions to attract and retain valuable employees.
Creating profit in business is linked not only with our economy, or with the owners’ decisions, or with the success of the salespeople, or with the skill of the marketing reps—it’s really tied most closely with the way that owners think about business, money and profitability. From an insiders’ viewpoint, I’d like to share with you several key steps to energize your business, find new ideas and insights and connections, and become more profitable than ever.
What is marketing strategy? In a nutshell, a strategy is a plan that defines the best way to communicate with the people who should receive your message. For Pepsi, part of their strategy may have involved using a trending current event to highlight their product. For Nivea — well, I honestly have no idea what strategy led to “white purity.” I just don’t.
An entrepreneur who launches a software company can get down to work about any place that has a table, a chair and decent wi-fi access. But what about entrepreneurs with great ideas for hardware, the things that exist in the real world? Where will they find the tools they need to create a prototype? And perhaps more important, how will they learn to use the tools?
Now that your business has benefited from incremental growth in sales and product brand awareness in your target markets, it is time to consider where do you go from here? How will you grow your business? One option is to maintain the status quo by conducting business as usual while earning a steady stream of income from your existing customers.
What do power strips, toilet stalls, popcorn, sausage, earthquakes and timing belts have in common? They’re associated with products and services produced by companies that won the 2017 NCET Technology and Reno Gazette-Journal Business of the Year Awards. One of the many things I love about working at NCET is getting to meet the incredible people and companies who drive our vibrant and diverse business and technology community. One of the ways I discover them is through the annual NCET Technology and RGJ Business Awards.
I believe that a company’s ability to capture market share and deliver exponential growth starts with the mindset of its leadership. Leaders must develop themselves before they can expect a sales team to bring in results. Every great leader needs the mindset, skill set, and tool set to succeed. Here are some tips on how to develop all three.