Businesses today need to be quick to get ahead. Whereas at one time the big were eating the small -- the fast are now eating the slow. Those who are fast have certain characteristics; they are strategic, organized, and understand their priorities.
Their priorities are rooted in both the company's vision, as well as its needs. Among the necessities of a company, four things that every business must have are:
People want to get together, even if it's not face-to-face. As we saw in the Facebook movie, The Social Network, the concept underwent several overhauls in the process of being made, but was finalized when a friend asked Mark Zuckerberg the relationship status of a girl he liked.
By creating a way for people to get in touch, stay in touch, and communicate quickly on an individual or mass basis, Facebook fulfilled a need that only the Internet could offer. This need was desired both by individuals, corporations, and non-profit agencies. Even the US Marines have a Facebook page, and they're gaining new followers every day.
Marketing and Branding
Allstate provides products to law firms. This is seen most greatly in their Allstate Style Index Tabs, which has Helvetica type as opposed to Helvetica Bold. That's it; there is no other difference! While the difference is nil, law firms trust the Allstate brand and made the change to the tabs, which they are sticking with.
For newer companies, being able to be faster than Allstate, or other behemoths, is the key to success. This is found in guerrilla marketing through social media, which can help create a strong brand presence. As customers are engaged, they will become loyal, which will be seen as a stronger response is found in response to promotions and buyer programs.
When it comes to operations, there are many aspects to keep in mind. Among them are the policies and practices that define the organization. This includes approaches to quality management, internal and external communication, and customer service.
Interestingly enough, all of these can be considered marketing, as well, because when people have a great customer service or quality experience, they talk, Tweet, and write reviews about it. The same goes for when they have a bad one.
Lastly, money matters. Without capital, a business cannot function. If the mission and vision are the heart and soul of an organization, then cash is the lifeblood.
Complementing this is having good credit, a strong reputation that can bring credit and cash flow, understanding the advantages of accelerated depreciation, good bookkeeping, and ensuring that vendors and creditors are paid on time.
While all four of these things are crucial to business, if one was to be ranked above the rest, it would be marketing and branding. The reason for this can be found in numerous examples where non-existent markets were made, such as with Listerine (originally a floor cleaner), the Pet Rock (it's a rock!), and the Snuggie (a blanket with sleeves, or a bathrobe with no belt).
The Good, The Bad, The Ugly: A Step-by-Step Guide to Starting a Business
So you want to start a business but you don’t know the steps to take to get there. Entrepreneurship is no simple journey. It entails a significant amount of time, hard work, failure, and rebuilding. But a true entrepreneur is not afraid of the struggles that come with such a rewarding endeavor. If you are ready to start your company, there are quite a few things to know and steps to follow before taking the plunge.
Being a small business owner means wearing a lot of hats ranging from a customer service representative, accountant, and project manager. This leaves little room to focus on marketing. One of the best ways to market your business is through local press coverage. The primary goal is to attain new customers and make your business known. While media coverage is a goal of many businesses, it is a tedious task.