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Things to Consider Before Starting a Franchise
IntroductionBuying into a franchise is an exciting and challenging experience. The thought alone of being your own boss may more than make up for the hard work it takes to support your own business. Unfortunately, many new franchisees put themselves at an immediate disadvantage by not taking into account certain aspects of the process. The following addresses certain elements the franchisee must consider in order to become a success.The disclosure documentThe Uniform Franchise Offering Circular (UFOC) is a very long, detailed document, but it is necessary for a franchisee to understand it in totality. It is recommended to take note of areas th

ntic sources. In India, there are two major sources for reliable trade statistics - Directorate General of Commercial Intelligence and Statistics (DGCIS) and Customs.

DGCIS publishes 'Monthly Statistics of Foreign Trade of India' Its March issue contains cumulative data for whole financial year (April to March). After publishing extremely voluminous books for years - DGCIS has started publishing this data in CD-ROM from 2004.

DGCIS statistics is extremely important for macro level data analysis. On

Direct Response VS Branding
One night stand …or…Dynamic, long lasting and loving relationship?Which would you choose?Ok one night stand sounds like fun…but it’s a quick fix and does not really match up to the latter. At least I hope not.Above is a simple analogy to get your attention, something your advertising should be doing…but what it should also do is reveal your company’s identity, character and beliefs. That is where the real attraction for your consumer lies, and consolidates a mutual, loyal and profitable relationship.So what is the core point of this article? Answer: Advertising for SMEs and the advice and rules you are supposed to adhere to concerning Brand

Successful companies concentrate on one foreign market at a time, moving on to the next only after succeeding in the last. Demand and trend are the two key factors that determine which countries to select first and how to set priorities.

Market research helps you identify promising markets through objective analysis of available facts and statistics. Its true, many companies start export whenever it receives unsolicited orders from abroad. Although this type of selling is valuable, the company may discover even more promising markets by conducting a systematic search.

Primary and Secondary Market Research

Market research is conducted by analysing primary or secondary data resources. In conducting primary market research, a company collects data directly from foreign marketplace through interviews, surveys, feedback and other such direct contact with potential buyers. Primary market research has the advantage of being tailored to the needs of the company and provides answers to specific questions, but it is invariably time consuming and very expensive.

Secondary market research is based on analysis of statistical data such as trade statistics. To be effective, the data should be reliable and cover significant historical period. Though it is considerably less expensive than primary research, one should be aware of its limitations. For example, the most recent statistics for some countries may be more than two years old. Moreover, the data may be too broad to be of much value to a company. Statistics may also be distorted by incomplete data-gathering techniques. Finally, statistics for services are often unavailable. Yet, even with these limitations, secondary research is a valuable and relatively easy first step for a company to take. It may be the only step needed if the company decides to export indirectly through an intermediary, since the later may have advanced research capabilities

Step 1 - Collect Data

Collect export statistics published by authentic sources. In India, there are two major sources for reliable trade statistics - Directorate General of Commercial Intelligence and Statistics (DGCIS) and Customs.

DGCIS statistics is extremely important for macro level data analysis. One

The 5 Most Important Things to Know When Writing Your Resume
The Merriam-Webster dictionary defines a resume as a short account of one's career and qualifications prepared typically by an applicant for a position.The reality is that when you create your resume, you are like an artist/painter. Your pen is the brush and the paper is your canvas. Create a masterpiece and it will sell! Paint a dud and your own resume will abuse you.The main purpose of a resume along with the accompanying cover letter is to get you the interview, pure and simple.The way to accomplish this is to show off your strengths and achievements and minimize your weaknesses (we all have them). If you write your resume correctly, strengths

over even more promising markets by conducting a systematic search.

Primary and Secondary Market Research

Step 1 - Collect Data

DGCIS statistics is extremely important for macro level data analysis. On

A New Way to Look at Your Career
You can pick up any business or news magazine at any time and read articles about the rapid pace of change, the increasing speed at which everything moves, the globalization of industry and commerce, and how technology is changing our world.Of course all of these things are true. Further reading will lead us to articles about the “new world of work” and how our working lives are changing; that we are changing jobs more frequently, are expected to multi-task, taking less time off and being completely connected all of the time. All of these facts can lull us into a belief that there is nothing we can learn from workers of the past – that the world is so differe

o specific questions, but it is invariably time consuming and very expensive.

Step 1 - Collect Data

DGCIS statistics is extremely important for macro level data analysis. On

Employee Performance - If You Want the Best, Get Personal!
This is a story about a man and three dogs.I walk a lot - usually for about half to three-quarters of an hour most mornings. I see a guy with two dogs quite a lot. We chat a little occasionally.Of the two dogs (I know I said three, so hold on a bit), one is a light brown lurcher and is quite friendly and the other is a beautiful black labrador. He is 'nippy' as my co-walker tells me, so I have been a bit careful of him, but I always try to stroke him too. Whilst I have always been cautious of dogs, I have always tried my best to make friends with them, wherever I have gone (and no, I don't have a dog, and yes, I probably would li

o a company. Statistics may also be distorted by incomplete data-gathering techniques. Finally, statistics for services are often unavailable. Yet, even with these limitations, secondary research is a valuable and relatively easy first step for a company to take. It may be the only step needed if the company decides to export indirectly through an intermediary, since the later may have advanced research capabilities

Step 1 - Collect Data

DGCIS statistics is extremely important for macro level data analysis. On

Marketing Masturbation: Branding Not to Win
There is a single fundamental truth in branding that is true regardless of industry, company, or product: IN ORDER TO BE SUCCESSFUL, YOU MUST BE WILLING TO WIN. This may sound ridiculous to say but, there are many occasions when we come across brands where the brand managers, VP’s of Marketing, CEO’s, and even members of the Board of Directors are more attached to their own preconceived notions and ideas about what they think the brand should be than in winning. Their hidden desire often times, is to hire a strategic branding and wanting them to say that they are doing everything correct. The great Vince Lombardi once said, “Winning isn’t everything, but the will t

ntic sources. In India, there are two major sources for reliable trade statistics - Directorate General of Commercial Intelligence and Statistics (DGCIS) and Customs.

DGCIS statistics is extremely important for macro level data analysis. One can find out product and country wise (as also country and product wise) statistics for whole year from DGCIS publications. You may find more information on DGCIS data including examples at Sources and Evaluation of Indian Foreign Trade Statistics

Customs department publishes port-wise "Daily List of Export and Import". This list contains brief details of every shipment made through a seaport or airport. For more information including demo data - check Eximstat Database

Step 2 - Identify Promising Markets

Identify five to ten large and fast-growing markets for products in your export basket. Check volume as well as trend for a historical perspective of 5 to 10 years. Ask critical questions - has market growth been consistent year to year ? Has there been a shift in product choice ? Was there a seasonal bias ?

For example - analysis of spice export data for last few years may show increasing sale of curry-type mixed powder spices and modest or decreasing sale of whole seeds.

Another example - increased rice export to Bangladesh may be traced to floods in that country rather than any long term change in demand profile. Such spurt in demand is unlikely to sustain for long and should be considered a temporary phenomenon.

In both cases - historical analysis of foreign trade statistics can help you identify seasonal bias or shift in demand.

Step 3 - Identify Emerging Markets

Identify some smaller but fast-emerging markets that may provide ground-floor opportunities. If the market is just beginning to open up, there may be fewer competitors than in established markets. Growth rates should be substantially higher in these countries to qualify as up-and-coming markets, given the lower starting point.

Step 4 - Assess Target Markets

Ascertain the sources of co

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One of the most effective ways to improve mental and physical health is rest. People also produce their best results when they are relaxed and comfortable at their workplace. The first concept of rest in the corporate context is stability. Therein, lies an apparent paradox. To cope with the rapid changes, the company needs to change. Yet, in the quest for growth-inducing changes, the company needs to have rest and stability.

Change management is something many companies may face throughout their existence. Whether something simple or a complete change, various things can be done to allow for a successful change. Management of the change effectively will allow for the best overall final product but it really just is not that simple. But, there are ways to get effective change management in such a way as to contribute to the betterment of the company.

Being strategic and thinking strategically in developing your marketing plan means you understand the needs and desires of your clients and customers, and you show them how your product/service satisfies those needs. You must know - what value your product or service offers and what benefits it provides; what differentiates you and your product/service from the competition; who are your stakeholders, which may include- your suppliers, your bank, your subcontractors or vendors, your associates, your staff, your clients or customers, and of course the general public; where your clients and customers are located geographically; and what are the most effective distribution channels to deliver your product or service? When developing a strategic marketing plan, your strategic thinking business coach provides the following ten (10) strategic marketing tips.

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