Today we live in a highly modernized period where we can find lots of innovations, practical techniques, and technological advancements compared in the past. Business industry is one of the industries that benefits to the modernized revolution of science and technology. Thus, business communication has a great factor and mean contribution to the success of different businesses. However, computer era invaded the communication world and people thought that the growth of this new dimension will get rid the usual paper we used when it comes to business correspondence. But business correspondence can be use in papers as well as in electronic mail. The types of business correspondence that are use in the business community are business letters, business reports, faxes, memos, and email. Every company uses email to communicate internally and externally to colleagues and clients which is of course related to the field of work. Business letters are commonly used in companies as to request payment, thank customers or to solicit business. There is also a reference line that includes important details such as relevant account, order or purchase number. Remember to include the contact information where the recipients will be able to easily reach you if they have questions or concerns. Regardless of the details, all business letters should follow a standard format which includes the date, the name and address of the recipient as well as sender name and address. Memos are little documents with demanding requests and written properly. Memos should include To, From, Date and Subject. There should have a brief explanation on the exact information or clear instruction which is conveyed to the employees. Business reports refer to a variety of reports including a business proposal, marketing plan, project analysis, or financial overview. To make business reports effective, include summary or recommendation that is not based on personal opinions and make sure to find out exactly what kind of information youre client wants and the questions they want answered in the report. A good communication aids in the exchange of intelligent information or ideas, and with great agreement this may lead to a very successful business. Anyone who is involved in a business must know the importance of writing a good business correspondence. The techniques and style must be simple and the words should be clear and comprehensive. And most of all, it is easy to understand and there must be sincerity behind it.
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Do you want to learn MLM strategies to improve your network marketing business? Do keep reading, because I will be going through a few of those with you today. Pay attention as well, because you may get new ideas just by reading this article. By the end of this article, I hope you will have a better idea of how you can improve your current system, so without further ado, let me get started.
Learn MLM Strategies – Set Your Goals
It is important that you set your goals. Think about what you want to achieve out of your business ventures. Where do you see yourself one year from now? How much do you project to make per month? Goals are the driving force behind motivation. Imagine a game of soccer without any goal posts. What would motivate the players to win the game for their team? The game would lack its original purpose, wouldn’t it? If you are running your network marketing business but have absolutely no idea where you want to be or what you want to achieve out of it, it is as good as saying you are without a purpose in the business.
Learn MLM Strategies – Train Your Downlines
You will most probably get your own downlines in future. You must treat them as gold! Do not neglect your downlines. They are there to help you. Your level success does not depend on you alone. It also depends on how successful your downlines are. Therefore, it would behoove your to train your downlines to become self-sufficient and independent dirstributors. If they are able to build their own individual networks on their own, you will make things easier for yourself, because you can then spend more time building your own network. However, as with all beginners, they may need a lot of help at the start. Help them, bring them for training in MLM, and watch them grow!
Learn MLM Strategies – Automate As Much As Possible
As with almost every business, it is a wise decision to automate your operations as much as possible. This is where you can capitalize on the internet and implement it into your business. You can start your own support group and invite your downlines to join it. You can also conduct training sessions there. As for building your own network, you can collect the email addresses of your leads and follow up with them via email. In both of these methods, you can communicate with a large group of people conveniently and seamlessly over the internet.
In every industry there are misunderstandings,, common myths, fictional stories and personal opinions. Business coaching is no different. The more popular this industry becomes the more susceptible it become to untrue allegations.
This article helps to shed some light on this industry and provide you with some business coaching facts.
Many of the business coaching facts found in this article are courtesy of survey results provided by the International Coach Federation. Others are the finding of separate studies.
Fact: There are over 25, 000 business coaches in the U.S. alone. Many of them coach both online and offline businesses. While business coaching may seem like the new kid on the block, the truth is the foundation is well established.
Fact: Over 40% of Fortune 500 companies use business coaching. Business coaching is not just for inexperienced entrepreneurs. Even large corporations and people with MBA’s utilize business coaching.
Fact: Coaching is about learning not teaching. Coaches are not teachers. They can teach you a lot but they are not there to teach you how to run your business. They may not know how to do things better than the client.
A coach can observe patterns and set the stage for new actions and then work with the individual to put these new, more successful actions into place. They are not there to do the work for you.
Fact: Most clients do not turn to coaches simply for monetary advice. They turn to their coach for help on time management as well as career guidance and business advice. To a lesser but still significant extent, they seek coaching on family, relationships, wellness and spirituality.
Fact: 98.5% of coaching clients said their investment in a coach was well worth the money
Fact: Coaching is a process not an event. The true process of coaching requires getting at the ‘root cause’ of deficiency. If your company is lagging there is a reason.
Business coaching is need to help get to the root cause. You have to be willing to accept the cause, overcome it and then begin changing the effect it has on you and your business. All of this is a process.
Fact: Coaching is not the same as consulting or counseling. Coaching is about creating a win-win alliance. Coaching looks at businesses holistically.
Fact: 61% of clients report having greater job satisfaction due to coaching.
Fact: Coaching can produce a 529% return on investment and significant subtle benefits to the business.
Fact: Not all business coaching firms are genuine. They will try to set up cult-like organizations. These organizations try to control businesses, push products on them, and do not have the business owner’s best interest at heart. This is why it is important to research an organization thoroughly, and ask your coach for qualifications and references before continuing to work with them.
Fact: According to most clients to be a sounding board is the number one role of a coach. They want a coach who will provide honest feedback and really listen to them. They also use them as motivators, friends, mentors and spiritual guides.
Fact: More than two thirds of clients attributed to their coaching a higher level of self awareness, smarter goal setting and a more balanced life.
These Business Coaching facts should help you see what you can get out of coaching but also what you may have been wrong about. A business coach helps your business performance by giving you an outside perspective.
They don’t build your business for you, complete tasks for you nor should they compare clients or coworkers within an organization. They help you reach your business goal by deciphering what is limiting your progress.
We know that taxation has got many advantages: they form the source of government revenue, they act as a tool to redistribute income, reduce inflation among many others. However, do you know that taxation also has its own limitations?
Well, issues of taxation are not just a preserve of the politicians. And complaining about high taxation is not just meant for the “selfish capitalist who doesn’t want to share.” There are many negative impacts of taxation in the economy, and that is why taxing business and individuals too much can easily lead to a decline in productivity.
It May Discourage Hard Work
In an effort to redistribute income from the rich to the poor, the government might find itself discouraging people from working hard to become rich, since with increase in income, the greater will be the increase in taxation.
For example, if someone knows that beyond a certain level of income, he will pay the government an extra 50 cents for every extra dollar he earns, he may be discouraged from becoming more enterprising. In the long run, this will reduce the productivity of the whole economy.
May Discourage Saving Habits
Since direct tax falls on income and not consumption, individuals may be penalized for saving money and investing it. Take a case where two people are earning the same amount of income during there working years. If each one of them earns $1,000,000 during their active years, they will be required pay the same amount of tax like $100,000. If one person decides to save and invest $200,000 and the other person decides to save and invest $100,000, the first person would have consumed less during his active years compared to the second person. If both persons earn then same amount of interest on their investments, the first person will earn more and taxed even more, and the second person will earn less and be taxed less. From this, you can see that someone will be tempted to avoid saving because there is actually no reward for saving money.
It May Discourage Foreign Direct Investment
Foreign investors look for opportunities to make money. For this reason, they are always looking for places or locations that are favorable to them. These are the locations that give them the chance to achieve their plans. High taxes may discourage investors from going into a particular country as these taxes will obviously eat into the income of the business entity.
With increased globalization, different countries aim to attract investors through a variety of measures such as reducing taxes and so on. It is therefore very easy for a company to move from one country to another simply because of the tax incentives offered in another country.
As people continue to debate about the importance of taxation and the negative effects of the same, it is important that governments understand that that although tax increases may seem beneficial in the short-run, they may end up being counter-productive in the long-term.
As Tom Peters, the American writer who has written extensively on business management practices says, “Do what you do best and outsource the rest!”. There is no harm in outsourcing. In fact, outsourcing is not a novice idea and there are lots of businesses that outsource more than one project. Outsourcing content projects is a common practice among many businesses. Most of them lack the core expertise that is required to handle content projects and this is why they prefer to get it done by experts. On the other hand, there are businesses that can’t handle software projects skillfully, and therefore, consider outsourcing software development to be a safer option.
How does outsourcing benefit your business?
While outsourcing is undeniably beneficial for your business, you need to know the exact benefits. Does it help you focus on the core activities or manage the risks better? Handing over the responsibility of some of the most financially rewarding projects to a third party is indeed a smart move for your business. But before you make that move, let’s take a look at the exact benefits of outsourcing.
Lets you focus on the core aspects There are several functions, which are not related to the core aspect of your business. The moment you start expanding your business, the workload of the non-core functions continue to increase. As a result of this, the core activities get neglected and the quality deteriorates. In a situation like this, outsourcing seems to be an easy solution. Since you transfer the responsibility of some of the projects to a third party company or an individual, your key resources can focus on the primary business tasks.
Allows access to skilled expertise One of the main reasons why businesses prefer to outsource some tasks is that they get access to skilled expertise. It may not always be possible for a business to hire employees for a particular skill set. Outsourcing seems to be the most feasible solution in a scenario like this. This allows you to get the job done by professionals, who are expert at handling it. This also saves you the hassles of hiring full time employees and training them for specific projects.
Enables better risk management The moment you outsource a project, you share the risks associated with the project with your outsourcing partner and thus, reduce the burden. By outsourcing a task to a company that is competent enough to handle that, you can rest assured of the quality of the task.
Lets you run your business 24X7 By outsourcing projects to a country like India that is in a different time zone, you can make use of all 24 hours. By the time your working hours are over, the Indian company with which you are working can take over and continue with the work. They can work on several critical tasks and make considerable progress by the time you get back to work the next day. This way, you can abide by the follow-the-sun working model. This also helps you focus on time and material development.
These are some of the ways in which outsourcing helps your business.