How quickly can your company get back to doing business after a tornado, fire, flood or computer crash? Every year, thousands of companies are unprepared. The US Department of Labor states that over 40% of small businesses that experience a disaster never reopen, and of the remaining companies, at least 25% will close within 2 years.
1. Continuity plans. Most business owners agree that having a plan is important, but too few take the steps to prepare. Plans vary according to each individual company's needs, but the basics are the same no matter the industry, size or location.
Identify what types of emergencies - from a temporary electrical outage to a large geographic catastrophe - could affect your company, the likelihood of each happening, and how they could affect your business. Then, with that in mind, determine your needs. Once this information is collected, it is easier to put a plan in place to help resume operations.
2. Determine your immediate needs. What data do you need the day after a disaster? Check with your IT provider on availability. Does your telephone service have emergency options to ensure you don't miss any phone calls? Have your customer, vendor and employee information readily available.
Can you run the business from a different location? Develop relationships with other companies so you can set up temporarily. Also, create a relationship with a competitor you trust who can meet your customers' needs short term. This will help you maintain your relationships with your customers even when you are not able to provide the product or service yourself.
Have back-up vendors and shippers in place in case your primary ones are disabled. Establish relationships in advance and maintain them. Place occasional orders so that they regard you as an active customer when you need them. Keep extras of hard-to-replace parts or supplies on hand and store them off site.
3. Information. Many companies store their important files in a safe or on an external hard drive in the office. If the building is damaged or items stolen, it is highly likely your data will be, too. Online backup is a safe, low-cost option. You can establish frequency of backup, which will allow you to resume doing business quickly.
4. Have adequate insurance coverage. Review your policy with your agent so you understand what is covered and what is not. Do you have Cash Value or Replacement Value coverage? Is this coverage on your building or contents or both? Do you have flood insurance? Should you? And don't forget about coverage for water backup of sewers, drains, or sump pump failure. Another area many business owners don't consider is Business Interruption Insurance. These are issues only you and your agent together can address.
In conjunction with your insurance policy, compile an asset inventory with photographic records and a written report. Knowing what you own, when the items were purchased and the cost will help reduce the process when filing your insurance claim because it will help you remember everything you owned. Even if you have adequate insurance coverage, most policies require a detailed list of what was lost, damaged or stolen. During the stress of recovering, you will most likely forget many items, and the time savings is imperative so you can begin rebuilding your business. Be sure to secure this information off site, and update the inventory annually.
Disaster may never strike, but if something does happen, having plans in place will help you through the transition and increase the odds that a temporary business interruption does not become a permanent one. According to the SBA, small businesses provide nearly 45% of the nation's payroll. A commitment to being prepared will support your employees, customers and the local economy.
<<<Monday, April 28, 2008
The Essence Of Marketing And Brand ROI by Sam Miller
In close connection to marketing, brand ROI or return on investment is the measurement on whether the brand name of a product is generating income for the business. Not really income per se, but it sees to it that the name of the product has impact on how well the product is known and how people connect the name with something else.
Marketing strategies of today use branding as a key focus in introducing a new concept or innovation on current products that has several competitions worldwide. Simply put, a brand name should affect how customers and consumers make decisions on what to buy. Notwithstanding the price, a brand name can move the business forward if the name is associated with good things that consumers are looking for. This may have something to do with the product's quality, the credibility of the product and the company, and the tenure of the company in the business. Many companies have established their brands for being present in the market for many years that it is seemingly impossible for them to change names. The brand is already part of the pop culture, and may even be substituted as a name for the common name of the product. This normally happens if the brand name is the first of its kind in the industry or, say, it is a machine that was first released under the brand name.
Business establishments invest in brand marketing. This investment in making people aware that their product exists is expected to yield results. The results may not be in direct profit, but strong brand names often lead to businesses having an easy time getting approved for loans to sustain and expand the business even further. Also, a strong brand name is very likely to increase the product's value in the future. As the product gets into a phase in which it is already considered a common household word, businesses may raise the financial value or worth of the product, and yet expect that the consumers will stay loyal. The most common example is designer clothing. People will always be willing to shell out money that reaches the high heaven just to get designer clothing.
The branding of these designer clothes has something to do with how it was advertised. There is surely a heavy investment for artists and actors who endorse the product for several months. Flyers and billboards are also added expenses, add to that the television and radio commercials and marketing enterprises done in malls with the appearance of the product endorser. As a result, the brand is associated with class. And the brand ROI is more than what was actually spent in the marketing strategies implemented.
Once a brand has built credibility, brand ROI is surely to follow. In the many years to come, it will not be easy to erase the brand name from people's minds. The simple name of the product itself will ring a bell in people's minds that it is what their money is worth. Only then can a company say that the target set on brand ROI has been achieved.
Marketing strategies of today use branding as a key focus in introducing a new concept or innovation on current products that has several competitions worldwide. Simply put, a brand name should affect how customers and consumers make decisions on what to buy. Notwithstanding the price, a brand name can move the business forward if the name is associated with good things that consumers are looking for. This may have something to do with the product's quality, the credibility of the product and the company, and the tenure of the company in the business. Many companies have established their brands for being present in the market for many years that it is seemingly impossible for them to change names. The brand is already part of the pop culture, and may even be substituted as a name for the common name of the product. This normally happens if the brand name is the first of its kind in the industry or, say, it is a machine that was first released under the brand name.
Business establishments invest in brand marketing. This investment in making people aware that their product exists is expected to yield results. The results may not be in direct profit, but strong brand names often lead to businesses having an easy time getting approved for loans to sustain and expand the business even further. Also, a strong brand name is very likely to increase the product's value in the future. As the product gets into a phase in which it is already considered a common household word, businesses may raise the financial value or worth of the product, and yet expect that the consumers will stay loyal. The most common example is designer clothing. People will always be willing to shell out money that reaches the high heaven just to get designer clothing.
The branding of these designer clothes has something to do with how it was advertised. There is surely a heavy investment for artists and actors who endorse the product for several months. Flyers and billboards are also added expenses, add to that the television and radio commercials and marketing enterprises done in malls with the appearance of the product endorser. As a result, the brand is associated with class. And the brand ROI is more than what was actually spent in the marketing strategies implemented.
Once a brand has built credibility, brand ROI is surely to follow. In the many years to come, it will not be easy to erase the brand name from people's minds. The simple name of the product itself will ring a bell in people's minds that it is what their money is worth. Only then can a company say that the target set on brand ROI has been achieved.
planning for your own business event. by Krishna Singh
Any outstanding constraint of moment, there is power and capital which is face by those who are organization, there was enlarge in hire the incident for conspirator to arrange a particular occasion. Live it’s a social occasion or a community incident, there are very few planner to take care of your side. The task of the occurrence in plotter range from the design of argument the private command of the occasion itself.
Here is some list in which you can find out the route of deed to be followed, from this you can create your personal business enterprise.
1. necessary skill and education: you have the power to stand in your leg you have to be dynamic and sociable person with the large executive skill. You have to developed a excellent skills. Person an happening this would be necessary for all the aspect of the incident as glowing as converse with the buyer and the supplier to which make certain the whole thing work out the trade.
In this field if you create a degree then it is extra positive for business enterprise or you have a record of this area while a few people might have the lean to see for the requirement. They also have a earlier period knowledge through which they get the workplace or otherwise your quarter would might be approach in helpful.
2. necessary apparatus & materials: since an incident conspirator you have to handy in all occasion. So it is very necessary to get a cellular phone, fax machine and also internet link to keep a firm spray of statement in which your user as glowing as your supplier. during the calculation you have to spend a tall rate of computer and also a color printer. As you are necessary to call your customers, the supplier and the occasion site it is necessary in which your possess carrying. A automobile in which there is group of space which would be the perfect while you might have a transportation utensils and the equipment as glowing.
3. objective advertise: Action also categorize below two chief advertise sector. There is a common sector which would include the comfortable occasion such as birthdays, wedding, baby showers, reunions, anniversaries, etc. below the company parties, there would decrease a occasion which was detained by the personal organization. Corporations, businesses, charities, non-profit association and the supporting party. There also include a business parties, meetings, creation launches, trade shows, fundraisers, political rallies and so on.
Now it is on you, you have to make a decision to which sector you have to go or which catering your services to also you have to make a decision whether you would provide to all proceedings below the certain section or at one or two of them. For if you have preferred the business section in focus in just a business party and guidelines.
create up cost: The create up cost is chiefly sat on the part in which your trade has been placed and also the advertise promote to which you food preparation. You would also make the investments for the more than individual and also for production license/taxes, promotion textile, and also a official guidance etc.
This article submitted by Kn Singh. Surat India Yellow Pages, Business, TextileS, Diamond
Here is some list in which you can find out the route of deed to be followed, from this you can create your personal business enterprise.
1. necessary skill and education: you have the power to stand in your leg you have to be dynamic and sociable person with the large executive skill. You have to developed a excellent skills. Person an happening this would be necessary for all the aspect of the incident as glowing as converse with the buyer and the supplier to which make certain the whole thing work out the trade.
In this field if you create a degree then it is extra positive for business enterprise or you have a record of this area while a few people might have the lean to see for the requirement. They also have a earlier period knowledge through which they get the workplace or otherwise your quarter would might be approach in helpful.
2. necessary apparatus & materials: since an incident conspirator you have to handy in all occasion. So it is very necessary to get a cellular phone, fax machine and also internet link to keep a firm spray of statement in which your user as glowing as your supplier. during the calculation you have to spend a tall rate of computer and also a color printer. As you are necessary to call your customers, the supplier and the occasion site it is necessary in which your possess carrying. A automobile in which there is group of space which would be the perfect while you might have a transportation utensils and the equipment as glowing.
3. objective advertise: Action also categorize below two chief advertise sector. There is a common sector which would include the comfortable occasion such as birthdays, wedding, baby showers, reunions, anniversaries, etc. below the company parties, there would decrease a occasion which was detained by the personal organization. Corporations, businesses, charities, non-profit association and the supporting party. There also include a business parties, meetings, creation launches, trade shows, fundraisers, political rallies and so on.
Now it is on you, you have to make a decision to which sector you have to go or which catering your services to also you have to make a decision whether you would provide to all proceedings below the certain section or at one or two of them. For if you have preferred the business section in focus in just a business party and guidelines.
create up cost: The create up cost is chiefly sat on the part in which your trade has been placed and also the advertise promote to which you food preparation. You would also make the investments for the more than individual and also for production license/taxes, promotion textile, and also a official guidance etc.
This article submitted by Kn Singh. Surat India Yellow Pages, Business, TextileS, Diamond
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