Nic's blog...
Increasing Your Prices: A Scary But Highly Successful Strategy
January 10,2012
The truth is, they won’t.
On almost all occasions a price increase can actually increase your sales volume.
For instance, an Australian based company with $9 billion in revenue was having challenges with its profit margins, so they decided to increase their prices. To do that, they categorised each of their 800,000 products as to how well they were differentiated in the market. With products that had a significant point of difference and little competition, they increased their prices significantly. With products that had lots of competition they increase prices just slightly. The result was a $200 million increase in revenue.
Price is determined by perceived......
Create A Loyal Following Out Of Your Staff
December 21,2011
“Lack of loyalty is one of the major causes of failure in every walk of life” - Napoleon Hill With the recent recession and ongoing economic volatility, many employees have found themselves out in the cold and out of a job. Staff loyalty has not been at the top of most employers’ list of concerns because after all, if someone wasn’t a good fit for the company, most organisations could afford to lose a little extra slack. However, with many businesses now recovering from last year’s financial mayhem, how to attract and keep the right kind of staff is again becoming a consideration. ......
How to Effectively Combine Work and Play
November 16,2011
The old saying is certainly true - All work and no play makes Jack a dull boy (not to mention stressed, unhappy and possibly even physically ill!). But on the flip side, too much ‘fun stuff’ and our lives can stall, productivity declines into a state of procrastination and nothing actually ‘happens’. So how to we strike a satisfying balance between our various work and personal activities, one that’s rewarding, practical and productive?
Well, when it comes to developing a work/life balance, some professionals think they should be aiming to achieve an ‘equal balance’ between their professional and personal life, but this isn’t really the case. Nor is it......
One Minute Manager - In One Minute
October 29,2011
In a company of 25 people, how many people actually work for the owner?
The answer – none.
Nobody ever really works for someone else – EVERYONE, without exception, works for themselves. As a manager, it’s my job to help other people work better, amass a greater skill set and build a marketable employment record so that they leave my team richer than when they joined.
Obviously in the process of working on their career, they’ll benefit my organization – but they don’t work FOR me – they have their own goals and objectives, their own dreams and passions. It’s a small distinction......
