Category: Business Development

Success comes in many forms in Business

Success means different things to different people whether we are talking about business or private life. In Business, the obvious assumption is that a successful entrepreneur is someone who is financially secure. What they earn, what they own, what they spend can give the impression of success. More, more, more is what we all ultimately strive for in terms of success – or is it?

Stop and reflect on your own life. Think about what success means to you. Don’t limit yourself by focusing on the big things. They are important but they also seem to demand way too much of our attention.

Take a moment to focus on all the little successes you have had – either in the past or today. These are the everyday things that make life worth living. To be able to make choices. To be able to motivate and inspire others. To share life (both the joys and the sorrows) with others. To feel and to show feeling. To love and to be loved. To make the most of every situation no matter the circumstances.

How to launch a product successfully

According to reports, 250,000 new products are introduced to the world each year. We’re overwhelmed by so many new product entries, which range from sophisticated new technologies like the Nest thermostat and infomercial sensations like Pyjamas Jeans. To complicate things, brands are introducing new line extensions like Kraft Sizzling Salads, Disney Appmates, and a wealth of “new and improved” products from venerable brands like Gillette and Kleenex.

But the fact remains that the success rates of new product introductions and innovations have improved little over the last 20 years. Reports show that 66% of new products fail within two years, and a startling 96% of all innovations fail to return their cost of capital. This is due to a number of factors, including economic conditions, an explosion of consumer touch points, shifts in decision-making behaviour, and the deluge of information marketers have to sift through to ensure they are up to speed with the latest trends.

International Development

T International Development he decision to embark on an international expansion can be both exciting and frightening: seemingly endless growth opportunities exist, but there can be significant risks involved.

The checklist for setting up international operations is lengthy and varies country to country. And what’s worse, one missed detail could mean serious negative consequences for your business, in the form of fines and frustrated employees.

Not sure where to start? Here are 10 tips to keep in mind when thinking about international expansion:

Business Partnership can at times feel like a Marriage

Joining up with partners can result in offspring where the whole is greater than the sum of its parts. In today’s era of globalisation, the ability to form successful partnerships plays a vital role in your company’s success. It’s not enough to get engaged, you want to get married and you want that marriage to last a long, long time.

Here are a few important steps in forming a long lasting and fruitful relationship with the right partner company:

Recognising Opportunities

Whether we are going through a good phase in our lives or whether we are in the doldrums, it is always a good idea to be on the lookout for a better opportunity. We tend to get so engrossed in our daily lives that we often end up ignoring opportunities that pass in front of our very eyes.

Here is how you can realise if there is an opportunity to be grabbed and how to work on it:

Why investing abroad can be a good idea

Investment The trend toward investing abroad has been gaining popularity since the 1990s. Companies choose to invest in foreign markets for a number of reasons:

Market seeking

Firms may go overseas to find new buyers for their goods and services. The top executives or owners of a company may realise that their product is unique or superior to the competition in foreign markets and seek to take advantage of this opportunity.