Management

11 SUREFIRE TACTICS TO GAIN CONTROL OF RECEIVABLES by Ken Buehler If you have a receivables problem, now is the best time to contain it. Most agencies with receivables problems believe th...

There's nothing better for business than a booming economy. Unfortunately, it often encourages faulty thinking and spawns erroneous ideas. When sales are strong and profits meet projections, we're quick to take the credit. When things go sour, external forces get the blame.
A good economy tends to mask distorted thinking and inappropriate ideas. For example, personal computer sales have been drifting downward, even while prices have been dropping. Manufacturers are petrified. Out of near desperation, they jack up power to a sizzling 500 MHz to try to capture customer attention. Just as this happens, free PCs appear. In the midst of all this, one company rediscovers itself. To IBM's credit, it figured out what business it's in: solutions.

A CPA firm spends $11,200 on a Web site that attracts only a handful of visitors. An insurance agency invests $80,000 in an advertising campaign and no one sees the ads. An alternative health clinic sends out 8,000 direct mail fliers and gets 26 responses. A manufacturer spends $28,000 on an attractive brochure that no one uses.

14 TIPS FOR SENDING EFFECTIVE PRESS RELEASES by John Hewitt Know whom to send it to, not just where. Find out who the editor or reporter is for the section you want your release to a...

Becoming accustomed to a growing economy is easy and dangerous. Although there are always pockets of problems, we forget that success is often more the result of a good economy than our business acumen. If everyone else is doing well, our major challenge becomes how to pull ahead of the pack. Unfortunately, many business people tend to get a bit lazy-and that's when we can get caught.
There are ways to become more successful, keep business booming, and give companies the opportunity to gain a competitive advantage. Here are 15 ways to develop an extra edge:

'So dawn goes down today, nothing gold can stay.'
Robert Frost
'There are no more power elites.'
Manuel Castels in The Information Age
The painfully obvious implication of these quotes can be seen in the business world: IBM pulls its PCs out of retail venues because it no longer considers them profitable. The Wall Street Journal reported that in 1998, there were $301 billion in sales via the Internet, while the manufacturing sector did $350 billion in overall business. It took the Internet roughly 36 months to reach this figure; manufacturing needed 150 years.

19 TIPS FOR GETTING RISK SUBMISSIONS ACCEPTED We subscribe to the 'win-win' theory of negotiating when placing business with our company underwriters. The placement has to be '...

Out-marketing your competitors is easy if you do it right. It takes a combination of work and savvy, but the results can...

Just when we think we've grasped what's happening in business, something changes to disrupt the precarious balance. It may occur in the economy, an industry, a region, a particular market, or technology that alters even the most flexible business plan.

Establishing a strategy, then staying with it, was possible for most businesses until the last decade. Planning a year or more in advance was relatively easy. Ups and downs would occur but with a high degree of predictability. Hitting sales and revenue targets was almost a natural outcome.

24-7 SERVICE PAYS by Pegi Flahault A recent survey indicated that the vast majority of agents surveyed believed their customer base did not want 24/7 service, voice mail, e-mail or anyth...