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Atricle Dump - Nine Trade Secrets You Should Keep To Your Self
Is Your Corporate Wellness Program Floundering?Companies are instituting corporate wellness programs, often with mixed results. The idea behind a corporate wellness program is actually quite solid: these programs are opportunities for employees to get the help they need to prevent illness.The general idea of a corporate wellness program is that since as many as 80% of illnesses can be avoided with some preventative care, more attention to corporate fitness can improve productivity, reduce company costs, and ca
6. Marketing strategy – All products and services need to be marketed or promoted to the people. Otherwise, they would not get around to buying your product or service. You can do so by various means such as advertisements in media, banners, letters etc. This is all a part of your marketing strategy and should be kept secret from your competitor.
You may wonder that this would be quite easily apparent to t
China last year became the first country ever to import more than $1 billion of American scrap, according to the newspaper American Metal Market. The demand is so high that most scrap suppliers that sell to China are looking everywhere to grab up any materials available. Copper scrap exports to China, including Hong Kong, have quintupled since 1998, and China now accounts for 70 percent of the total. China's purchases of American copper scrap last year were equal to about 40 percent of American consumption. –New York Times<
Let’s look at some of the most common trade secrets that you should keep from your competitor:
1. New products – Any changes that you make in your product or service line should be kept under wraps till you are ready to reveal it to the public at large. Otherwise, you never know, maybe your competitor would beat you to it. These new changes, could take the form of new products that you may be launching or closing off some earlier ones etc.
2. Pricing strategy – Everyone uses a customised strategy to decide the price of their goods and services. It would be fatal to reveal this to competition, which of course would be ready to give an arm and a leg for it. This is also illegal and thus the Federal Fair Pricing law prohibits competitors from doing so.
3. Target market – Your key customer base and strategy to attract them is quite crucial and should be guarded well. All intelligent businesses keep this in mind and never ever reveal their actual customers and the means of engaging them, to their competitors.
4. Customer count – The numbers of customers that you have or the amount of sales that you have made is also one of the most well kept secrets. Otherwise, your competitor would be able to judge your exact position and standing in the market.
5. Guard yourself – Be always on your guard and take care of what you say or write. This is particularly important in case of your own and competitor’s product. Make sure that you avoid commenting on competitor products and services. Try playing safe and say that you have not tried their products or services to comment about them. Otherwise, anything that you say or write against your competitors can be used against you in any adverse way, be it in legal matters or in marketing ones.
6. Marketing strategy – All products and services need to be marketed or promoted to the people. Otherwise, they would not get around to buying your product or service. You can do so by various means such as advertisements in media, banners, letters etc. This is all a part of your marketing strategy and should be kept secret from your competitor.
You may wonder that this would be quite easily apparent to t
CPR is defined as an emergency procedure that is performed when breathing or heartbeat has stopped. When problems occur in the functions that are the lifeblood of their organizations, emergency procedures have to be performed.Cash generation, Productivity and Retention™ are as vital to the health of organizations as breathing and heartbeat is to the human body. Maximizing the function of each of these components will result in robust organizational health.In subsequent issues of this newsletter, we will explor
2. Pricing strategy – Everyone uses a customised strategy to decide the price of their goods and services. It would be fatal to reveal this to competition, which of course would be ready to give an arm and a leg for it. This is also illegal and thus the Federal Fair Pricing law prohibits competitors from doing so.
3. Target market – Your key customer base and strategy to attract them is quite crucial and should be guarded well. All intelligent businesses keep this in mind and never ever reveal their actual customers and the means of engaging them, to their competitors.
4. Customer count – The numbers of customers that you have or the amount of sales that you have made is also one of the most well kept secrets. Otherwise, your competitor would be able to judge your exact position and standing in the market.
5. Guard yourself – Be always on your guard and take care of what you say or write. This is particularly important in case of your own and competitor’s product. Make sure that you avoid commenting on competitor products and services. Try playing safe and say that you have not tried their products or services to comment about them. Otherwise, anything that you say or write against your competitors can be used against you in any adverse way, be it in legal matters or in marketing ones.
6. Marketing strategy – All products and services need to be marketed or promoted to the people. Otherwise, they would not get around to buying your product or service. You can do so by various means such as advertisements in media, banners, letters etc. This is all a part of your marketing strategy and should be kept secret from your competitor.
You may wonder that this would be quite easily apparent to t
Tis the season when we are wracked with indecision on who to buy for and what to buy. We don’t want to insult anyone, but neither do we want to bust our budgets. Here are some of my thoughts on this dilemma.First of all, this is not a competition or at least it should not be one. The largest or most expensive gift is not always the one most appreciated.Make a list – a short list. Your gift giving list should include your immediate boss and perhaps those co-workers you think of as friends. If this gets unco
3. Target market – Your key customer base and strategy to attract them is quite crucial and should be guarded well. All intelligent businesses keep this in mind and never ever reveal their actual customers and the means of engaging them, to their competitors.
4. Customer count – The numbers of customers that you have or the amount of sales that you have made is also one of the most well kept secrets. Otherwise, your competitor would be able to judge your exact position and standing in the market.
5. Guard yourself – Be always on your guard and take care of what you say or write. This is particularly important in case of your own and competitor’s product. Make sure that you avoid commenting on competitor products and services. Try playing safe and say that you have not tried their products or services to comment about them. Otherwise, anything that you say or write against your competitors can be used against you in any adverse way, be it in legal matters or in marketing ones.
6. Marketing strategy – All products and services need to be marketed or promoted to the people. Otherwise, they would not get around to buying your product or service. You can do so by various means such as advertisements in media, banners, letters etc. This is all a part of your marketing strategy and should be kept secret from your competitor.
You may wonder that this would be quite easily apparent to t
Whether you’ve created a corporation or limited liability company, you must maintain records. Here’s a primer on the basic corporate records you need to maintain.Corporate RecordsWhen forming a corporation or limited liability company, you are creating an entity independent from yourself. In so doing, this independent entity must take actions for itself, not you. For instance, a corporation will have a corporate bank account through which all revenues and debt payments are handled. As a shareholder, even with
5. Guard yourself – Be always on your guard and take care of what you say or write. This is particularly important in case of your own and competitor’s product. Make sure that you avoid commenting on competitor products and services. Try playing safe and say that you have not tried their products or services to comment about them. Otherwise, anything that you say or write against your competitors can be used against you in any adverse way, be it in legal matters or in marketing ones.
6. Marketing strategy – All products and services need to be marketed or promoted to the people. Otherwise, they would not get around to buying your product or service. You can do so by various means such as advertisements in media, banners, letters etc. This is all a part of your marketing strategy and should be kept secret from your competitor.
You may wonder that this would be quite easily apparent to t
Most of us have difficulty with negative feedback. We tend to become angry, defensive, or hurt when people offer negative feedback. We blame the bearer of the information. Many leaders avoid it altogether, because it strikes at one of our most prized possessions--our image of self. We like to see ourselves as effective, skilled, and capable both with people and task. Negative feedback is an opportunity that should be welcomed and valued as a great gift.It is unlikely we can prevent ourselves from experiencing negativ
6. Marketing strategy – All products and services need to be marketed or promoted to the people. Otherwise, they would not get around to buying your product or service. You can do so by various means such as advertisements in media, banners, letters etc. This is all a part of your marketing strategy and should be kept secret from your competitor.
You may wonder that this would be quite easily apparent to the competitor but the idea is that they should not come to know of your plans before you launch your scheme. Otherwise, there are strong chances that they will try to beat you to it.
7. Product sources – One should never reveal to their competitor their sources and contacts through which they work such as names of suppliers, distributors, wholesalers etc.
8. Technical and other aids in business – At times you may be using some particular technical or computer tool that has made your business processes much easier and better. This is an advantage that you have over your competitor. Therefore, it would be advisable that in order to maintain this advantage you keep it a secret from them.
9. Don’t trust your competitor – No matter how cordial your relations are with your competitor don’t ever trust them. Never tell them about any episode that you have had with your customers, either good or bad. This also holds true for your staff, products and services. This is so because you don’t know how they may use this information and at times, it may have bad repercussions.
Practice Caution
Everyone wants to follow the leader. If you are able to make your business a success then you can be sure that there would be many who would want to follow in your path and use the same business model as yours. This is part and parcel of success. However, no matter how much you are prodded, it is never safe to talk about your business and its workings with any outsiders. You would come across many a situation, when you would be asked about various aspects of your business but be cautious and don’t reveal the details.
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