8 Unique Features That Can Endear Your Business to Your Customers

If you are running a business as an entrepreneur, I have no doubt that you know why you are in business. In case you can not situate the reasons properly, let me assume that you are in business to create value that others want and are prepared to pay for. The value you create is the reason for your business. The people who patronize your business know what value they want from you. If you are able to provide this value as they want it, they will remain loyal to your business by patronage. They must be able to know your business for what it means to them. It is your duty therefore to decide exactly what you want your own business to be known for. The following eight features are about the best features your business can have to endear it to your customers. If your customers know your business because of one or more of these unique features, it is very likely that you will earn their loyalty for a prolonged period of time. That loyalty is what sustains you in profitable business.

01. High-quality products. Everyone I know always wants value for money. The higher the quality of your products, the better the value they offer for money.

02. The finest service. Customer service is a very important feature of any business. If the quality of your service is the finest around, it is very good for the business. If customers know your business for its fine-quality service, you will earn their sustained patronage.

03. Reliability. If customers can rely on your business to meet their expectations at all times, the business will be well-known and patronized because of that feature.

04. Unparalleled expertise in your field. Unparalleled expertise makes your products very unique. If the products stand out from others, your business could be patronized for that uniqueness alone.

05. Unique guarantees. If you are sure of the quality of your products, you can offer customers many guarantees including unique "money-back" guarantees if and when they are not satisfied with the product.

06. Lowest but competitive prices. Many customers always want high quality products at very low prices. If your business offers low prices for high quality products, that alone can be a feature it is known and patronized for.

07. Customized solutions to customers' problems. If your business is known for finding solutions to customer problems in ways unique to each customer, it can also be a feature your business is known for.

08. Fast service. If your business is known for fast service, it can help it to create the reputation it needs to make plenty of money.

Have you decided yet what unique feature or features you want your business to be known for? If you have, congratulations. You must however factor in that every customer has a compelling reason for buying any product. Every smart entrepreneur must therefore learn to tailor her business to take these reasons into cognizance by recognizing and using these unique features. Failure to do so can lead to customer dissatisfaction which can be very bad for business. Any business run with one or more of these features is bound to attract and retain customers for a long time. That by all accounts is very good for business particularly the bottom-line.

Sule Yesufu, a Certified Speaking Professional, has been a Strategic Partner in S D Y Management Consult, a firm of Investment, Small Business and Entrepreneurial Consultants since 1999. He is a Published Author and a Newspaper Columnist. An expert in Small Business and Personal Development, he focuses on communicating his ideas and thoughts mostly through his Training Seminars and popular free blog. He offers useful tips on Self-Improvement, Personal Finance, Entrepreneurship, Current News, Politics and Business in Nigeria, the most populous and vibrant country in Africa. To learn more about Sule and to contact him for consultations and private inquiries, visit his website at http://www.sdymanagers.com

For more business tips, visit: http://www.sdymanagers.com/apps/blog/

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How to Succeed in Business and Life With 3 Steps

In this post is a bit of my life story tied up with illustrations of the three things you need to attain a successful business. Even if it's an offline business, an online business, whatever you want to do, here are three steps on how to succeed:

Why are you doing it?

This is a very important and critical point to success. It aids your mental strength as well. You don't need to know a lot of things, absolutely. Just figure out what motivates you to move forward every single time in your business or anything similar. Have a clear goal of what it is.

For myself, it's basically my daughter. Many people will probably relate to this. If you have kids, you will understand what I'm trying to illustrate here. When my wife got pregnant, I realized I had to do something, because I couldn't be just waiting around and see what's about to happen. If she loses her job, what is she going to do? Will she find another one?

Something we say to ourselves,

"There's always another opportunity",

"Stop blaming the market; the market is no good",

or "I'm not going to find a job; what am I going to do with my kids?"

I didn't want to go through that nor worry that way, so I strived to take it on my own. I experimented and built my own business from scratch. I had no idea or clue on what I was doing, but I knew my "why". Simple - my family. They are my strength; they answer my "why".

In every single thing you do, find the reason behind your "why". For me, it's not only for my family; it's also my way of giving back to my parents for what they gave me. I challenge you today. When you go home, don't turn on the TV, instead, sit down and think what you do what you do. For example, why do you go to work every day? Answer it and you will know how to start your business today without doing anything. Just find out that why. Find out what drives you to your success.

Set your goals.

Have a vision. You found your "why", but what is your goal? Mine is to give a better life for my family. My family is the driver; they're the "why". What is my goal around that "why"? It's having a better life; having financial independence. You can do a part time business while you're working full-time. You don't need to quit your job. At least, you still have something left when an unexpected event happens. Focus on your business and make it grow.

If you want to focus on your career, make sure you have an alternative. A job is okay if you're feeling fulfilled and you're getting into your goals. If not, I guess you have to think about it.

What are your plans to achieve that goal?

Start researching what business you're creating. Are you going to do stock trading? Will you start an online or an offline business? Do you want to operate? Next question is, where are you going to do it? Do you plan to get some time off and travel the world? Are you starting a travel blog? Know what it is, find what it is, and from there, figure out what you need to learn to make it happen.

That's all it is. Learning is the key to success.

These three things will give you the opportunity to succeed in anything you do. This is not only for an online or offline business, but it can also help you in your job.

Again, remember the three steps.

One, know why you do what you do. Is it your family, yourself or something else? Find it.

Two, find the goal of that "why". Do you want financial independence, a better life, a safety net for your business, or do you want to be famous? I'm going to talk about goal setting later and how to set up new goals once you understand your why.

Three, what are the learning gaps that you need to fulfill that goal? These are the three things you need to succeed. Later on, I will talk about numbers two and three and how to analyze the learning gap that you have, but number one is your task.

Only you can tell yourself what your driver is. That's what will determine absolutely everything.

What are your success steps?

Jorge is a highly analytical person who got hooked with the online business world and created a simple process based on bricks and mortar businesses frameworks to help you take your business to the next level or create your own business based on your knowledge, talents and skills using online courses.You can find more about Jorge and his Three Steps Method at http://threestepsbusiness.com

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Questions Every Buyer of an Existing Business Should Ask

Starting a business from scratch is a lot of work. That's why for those who want their own business, an existing business that is for sale is hard to pass up.

Purchasing an existing business for sale could mean preventing the inconveniences of starting a business from the ground all the way up. For first time entrepreneurs, an existing business is a safer option since they can acquire the customer base, the regular cash flow, the goodwill associated with the business name (hopefully) and the contacts from the current business owner. It's a full package.

Despite its appeal, it does not mean that an existing business that catches your attention is the one that you will buy on the spot. Set the path straight by asking the right questions.

Why is it on sale?

Asking the owner why he is selling can either raise red flags or just confirm your intention of buying it. The response is also an indication of the seller's motivations.

An owner may sell his business because he is retiring and no one in his family wants to continue what was started. It is possible that the owner is migrating and the better option is to sell the business than closing it. Worse, it is possible that the owner wants to try a different industry. If the owner is selling because the business is failing, that is one example of a raised red flag that you should not miss.

What is the business' reputation?

A business' reputation is essential to its survival. Reputations are formed and characterised by the trust and confidence it has gained from its customers.

This is a question you can answer on your own. If the business is still operational, try to visit the place. Try to evaluate the kind of customer service available. Are they attentive to their needs whenever their attention is called? Do you feel valued as a customer? Are they appreciative of your presence in the store? If the business is already closed and waiting for a buyer, try to ask for customer feedback and assess from there.

What is the future of the business?

When buying a business, what you should look for the most is its profitability. There is no point in buying an existing business that has no future and will require you to exert the same effort as if you started a new one from scratch. Buying an existing business means acquiring its potentials as well as its problems.

Request for financial statements from the seller. Buying an existing business means buying its income stream and the expenses of its operation. Seeing the financial statements will also let you know how you can recast it once you acquire the business.

It is possible that you will not see the financial statements on the first meeting, but you will need this eventually. If the seller does not want you to see the financial statements (maybe it's really bad, he doesn't have any documents to show at all or he thinks that you are not a credible buyer), that should be your cue to look for another opportunity.

There are definitely more questions to ask when you are in the market for an existing business to buy. Keep your questions aligned with your objectives and plans. Always think of the future and how this can be a sound decision you can make today.

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Non-Business Undergraduate Degree Holders Are Welcome Into MBA Programs Too

Should someone without an undergraduate degree in business consider getting an MBA? Absolutely. Finally, an MBA degree was originally designed precisely for those without a business background, but who found themselves working in business! MBA students are today coming from very different industries: international business, banking, law, entrepreneurship, health services - and even art!

The MBA degree has plenty to offer even to those students who do not see themselves as "business people". Understanding business is essential in today's world, no matter which path you decide to follow in your career. That is true even for artists, non-profit workers and educators!

MBA programs are versatile, and increasingly so in the 21st century. The skills you will learn while doing an MBA - such as: leadership, critical and strategic thinking, problem solving, organizational and communication skills - will serve you well anywhere. After completing your MBA, you will not only gain a universally highly regarded degree, but also valuable connections.

You will learn a lot about finance and economics. Understanding more advanced business concepts requires more advanced math skills also, so those with a knack for math will find themselves easily grasping those ideas. Finally, you will be able to see the bigger picture! And even more importantly, actively participate in today's increasingly complicated business world.

An MBA degree is ideal for those wanting a career change. No matter what your background is, gaining an MBA will allow you to plunge right into the business world. MBA is a good choice even for those who are not interested in working in the corporate world, and see themselves as entrepreneurs, since they will learn how to manage any aspect of your own business.

Even if you're satisfied with the field in which you've specialized, furthering your education with an MBA may offer new possibilities in your chosen industry or company. Want to develop into a leader, get a promotion and a higher paycheck? Getting an MBA is a great way to be considered for upper level positions in your company. Now that you understand how the business side of the things work, you can go into management in your "old" field.

Who knows, you may even find out that you have fallen in love with business while working on your MBA! And, even if that experience has failed to transform you into a business person, and you're a decidedly academic type, you can find opportunities teaching business.

Courses in MBA, from portfolio management to industrial marketing, and everything in between, are available worldwide. For starters, applicants will need to crack MBA exams.

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The Basics of Business Litigation

Owning your company and being your own boss involves a great deal of responsibility. Being a successful business owner also means understanding the basics of business litigation and being prepared for potential legal issues should they arise. Although no company goes out looking for legal problems, these issues can impact virtually any business, and preparation is essential to avoiding long term damages.

Just as a litigation process exists for consumers, a process also exists for customers. Professional litigation addresses the problems and challenges unique to the business world. Having a handle on its fundamental lessons can help any business run more efficiently and can help any business owner determine when the appropriate time is to hire a professional. With an understanding of business litigation 101; as a small business owner you can help keep your company protected from potential legal issues and be prepared to hire a professional, when necessary for legal advice.

Understanding the Basics - What It Is and What it Isn't

Simply put, business litigation involves resolving disputes as they relate to a company. According to the National Bar Association, business litigation is defined as the practice of law in dealing with legal issues related to problems that arise from business and commercial relationships. When these issues arise, most business owners will need to hire a professional attorney to assist with these legal matters. Typically, a business litigation attorney will evaluate, handle and resolve these issues before federal and state courts.

Typically, this type of litigation can mean dealing with issues between two companies or between new and old partners within the same organization. This type of litigation is not involved in disputes between a consumer or client and a company, though a reputable and well rounded attorney practice can easily handle that aspect of business law as well.

As a business owner, you know that your success highly depends on the business relationships you maintain. Dealing with ugly disputes or contract issues can tarnish the quality reputation you have built for your company, and result in significant losses. This is why being prepared and understanding these legal matters is so important.

Common Business Litigation Disputes

Preparing for business litigation issues before they happen is the best way to help protect your company from significant legal issues or damages. Here are some of the common types of business litigation disputes that impact small business owners today:

- Franchise Issues- When establishing new franchisees, brokering agreements, etc., many times a business litigation professional will be called in to handle the entire process on behalf of the business owner.

- Shareholder and Partner Disputes- Business owners who are facing potentially damaging repercussions from shareholder or partnership disputes, can call a professional to develop an offensive strategy to handle these disagreements.

- Fraud Litigation- This involves a single party knowingly lying in their contract in an effort to entice a partner or other company into a misleading deal or agreement.

- Insurance Litigation- Legal experts can help company owners with disputes over coverage between the insured and the insurers.

- Company Purchases- This includes the sale or transfer of ownership of a business.

- Breach of Contract- Business owners can get the protection they need when a party does not adhere to the conditions put forth in their contract.

The good news for small business owners is the average business litigation attorney will be well-versed in handling these types of issues and can help business owners handle these disputes with ease.

Being Prepared for Potential Litigation Issues

Discussing sensitive legal matters such as this can, understandably, make some owners a bit uncomfortable. No one relishes the idea of being in court, or having to escalate a professional dispute to that level. However, understanding the basics can be instrumental in helping any business owner avoid court and legal drama all together.

Take the time to learn about what aspects of litigation your company may be vulnerable to, and what type of common disputes tend to impact other business owners. If you're considering expanding or growing your business in any way, then business litigation can come into play. Talking to a lawyer who understands these special challenges and situations can help arm you with the knowledge you need while putting your mind at ease.

Please find more information about business litigation

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Top MBA Business School That Can Make A Difference In Your Career Path

We all know that a title next to your name can be an advantage especially if you are vying for a high-ranking position. This is what makes one stand out among the competition and with that said, getting a MBA degree can certainly make a difference. If you are opting to enrol into the program, then this article can certainly help you eliminate the various universities out there and focus on the top schools that would help you land the job that you are dreaming of.

Top MBA Schools

MBA programs are accepted and recognised internationally. You can choose a university not located in the US and still get the degree recognised in almost all companies worldwide. MBA Programs usually run for a two-year period though there are some institutions today that run an extensive one-year program. Popular MBA programs would include areas in Economics, Management, Accounting and Marketing. The following are the top universities that are considered as the best business schools around the world.

US

Stanford University ranked #1 this year in US in terms of ROI for its students. The university is very selective in terms of choosing their students though all graduates tend to receive lucrative job offers from top multi-billion companies such as BCG, Apple, and McKinsey. Annual tuition fee is $57,300 for a full-time class.

UK

The London Business School ranked fourth in the world. Based in Regent's Park, UK, the school offers non-master programmes as well as SLOAN MSc programme and specialist Masters in Finance programme. The School topped the rankings in 2011.

France

Ranked sixth in the world, Insead is located in France as well as has campuses in Singapore, and Abu Dhabi. The school ranked second in Forbes' Best International MBA Programs for 2013 and graduate students land jobs in some of the high profile companies such as McKinsey, BCG and Bain and Booz.

Spain

The IESE Business School ranked seventh in the world and is number one in MBA in Europe. IESE is the business school for the University of Navarra. With 94 custom programs and 4 campuses in the world it is the best if you are looking for a business school in Europe.

Switzerland

IMD is the best school to enrol in if you are in Switzerland. Ranking 19th in the world, it is unique as it also offers a one-year intensive MBA program. Tuition is very expensive but can be paid off in a few years as most graduates land in high paying jobs.

India

The Indian Institute of Management Ahmedabad currently ranks 26th in the world but tops the graduate schools in India. It offers a Fellow Programme in Management, Post-Graduate Programme in Management and a 1-year Post-Graduate Programme in Management for Executives.

These graduate schools are just some of the top universities that offer excellent graduate programs that one should consider. With the high success rate that these schools bring, it would certainly ensure that you would be getting the job that you want.

Topmbacolleges.com is your number one source for the latest Top MBA Courses today. If you are looking for information pertaining to graduate programs, syllabus for CAT exam and other MBA news, visit our site today.

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Stop Specialising to Get More Business

What are two of the most common words provided as advice to online business owners? You will not be able to go far online without being told "focus" and that you should have a "niche". It does, after all, make sense. People are searching online for highly specific things. They don't want just a toyshop, for example. No, what they want is a toyshop in Exeter that specialises in old metal die-cast cars from the 1960s. So, if you had a website that did precisely that you'd be onto a winner. Right?

Wrong.

The problem with having super-tight niches focused on specific target customers means that you do not demonstrate any breadth of knowledge or experience. Unless you have several interconnected websites so that visitors can get a picture of your wide expertise, then there is the potential for an element of doubt. This depends, of course, on the size of the niche. If it is as narrow as my toy cars in Exeter example the likelihood of getting more than a handful of visitors each month is pretty slim and they'd be so pleased they had found just what they wanted they'd overlook that breadth of knowledge issue.

Few websites have such a narrow target, though. Indeed, if you do have such a narrow target your problem is that you cannot create a sustainable business in that way. You simply will not have enough customers.

Hence, several online businesses opt for wider niches, leading to that problem of "what else do they know?"

This issue was highlighted in recent research for Elance, the freelancer's website. This found that instead of people booking people who were "experts" at something because that single thing was their specialism, the bookings actually went to people who constantly expanded their range of services. The research looked in-depth at the booking data on the website and discovered that the most popular workers were those who offered to do work which was an extension of their previous work in another sector or specialism. In other words, the most booked freelancers were those who were not specialists. The study also found that generalists were also not booked much - the kind of freelancer who will do anything for anyone. It seems that employers wanted a specialist but a specialist who wasn't too special.

This is the same impact seen with niche sites online. Tiny niche sites can work, but often more of a hobby income rather than a real business. To make a real business out of focus and niches a website owner needs to move beyond the narrow niche, finding ways of expanding what they do, albeit on additional, interconnected websites.

As a strategy it seems that focusing on one narrow niche online could be limiting. But constantly widening your niche and growing your business into similar or related areas is the way to attract more custom. People tend to prefer businesses that are not "too special".

Graham Jones helps business owners understand the behaviour of their online customers and provides strategic advice, workshops, training and conference speaking on the subject. Get his weekly newsletter delivered every Saturday - Sign Up Here

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