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how to write a marketing plan? step by step guide + templates
how to write a marketing plan step by step guide + templates. Firms that are successful in marketing invariably start with a marketing plan. Large companies have plans with hundreds of pages; small companies can get by with a half-dozen sheets. Put your marketing plan in a three-ring binder. Refer to it at least quarterly, but better yet monthly. Leave a tab for putting in monthly reports on sales/manufacturing; this will allow you to track performance as you follow the plan. download your marketing plan template |https://app.box.com/s/ch81gi95ztzohhj0yfrczujcf78ozc6x plan should cover one year. For small companies, this is often the best way to think about marketing. Things change, people leave, markets evolve, customers come and go. Later on we suggest creating a section of your plan that addresses the medium-term future--two to four years down the road. But the bulk of your plan should focus on the coming year. You should allow yourself a couple of months to write the plan, even if it's only a few pages long. Developing the plan is the "heavy lifting" of marketing. While executing the plan has its challenges, deciding what to do and how to do it is marketing's greatest challenge. Most marketing plans kick off with the first of the year or with the opening of your fiscal year if it's different. Who should see your plan? All the players in the company. Firms typically keep their marketing plans very, very private for one of two very different reasons: Either they're too skimpy and management would be embarrassed to have them see the light of day, or they're solid and packed with information which would make them extremely valuable to the competition. You can't do a marketing plan without getting many people involved. No matter what your size, get feedback from all parts of your company: finance, manufacturing, personnel, supply and so on--in addition to marketing itself. This is especially important because it will take all aspects of your company to make your marketing plan work. Your key people can provide realistic input on what's achievable and how your goals can be reached, and they can share any insights they have on any potential, as-yet-unrealized marketing opportunities, adding another dimension to your plan. If you're essentially a one-person management operation, you'll have to wear all your hats at one time--but at least the meetings will be short! What's the relationship between your marketing plan and your business plan or vision statement? Your business plan spells out what your business is about--what you do and don't do, and what your ultimate goals are. It encompasses more than marketing; it can include discussions of locations, staffing, financing, strategic alliances and so on. It includes "the vision thing," the resounding words that spell out the glorious purpose of your company in stirring language. Your business plan is the U.S. Constitution of your business: If you want to do something that's outside the business plan, you need to either change your mind or change the plan. Your company's business plan provides the environment in which your marketing plan must flourish. The two documents must be consistent.
personal finance 101, personal finance basics, and fundamentals
personal finance 101, personal finance basics, and fundamentals. personal finance is the science of handling money. it involves all financial decisions and activities of an individual or household – the practices of earning, saving, investing and spending. matters of personal finance include the purchasing of financial products, like credit cards, life and home insurance, mortgages and of course various investments and investment vehicles. banking is also considered a part of personal finance, including checking and savings accounts and 21st century online or mobile payment services like paypal and venmo. all individual financial activities fall under the purview of personal finance; personal financial planning generally involves analyzing your current financial position, predicting short-term and long-term needs and executing a plan to fulfill those need within individual financial constraints. it depends on one's expenses, income, living requirements and individual goals and desires. among the most important aspects of personal finance are: assessing expected cash flow, buying insurance, calculating and filing taxes, savings and investment, and retirement planning. as a specialized field, personal finance is a fairly recent development, though colleges and schools have taught aspects of it as "home economics" or "consumer economics" since the early 1900s. the field was initially disregarded by male economists, as "home economics" appeared to be the purview of home-making women. however, more recently economists have repeatedly stressed widespread education in matters of personal finance as integral to microeconomics and the overall economy. market theory and practice are largely guided by assuming the presence of the invisible hand: the idea that all consumers in a market economy will act rationally, or in their own self-interest. in theory, this makes market fluctuations predictable and provides assurance that their movements have been in the interest of the consumer. however, scholars and behavioral economists in the late 20th and 21st centuries began to question that assumption, arguing that consumers actually act irrationally as a result of under-education in a more complicated and less comprehensible economy. many consumers simply do not have the information to make the most rational financial decisions for themselves, or they are manipulated by circumstance or misinformation to perceive a decision as being more rational than it actually is.
how to write a business plan? step by step guide + templates
how to write a business plan? step by step guide + templates. Looking to build a business or expand the one you're already running? You'll need to build a business plan before you do. A video tutorial walks through the process of defining your business, researching the market, and determining your product. download your business plan template |https://app.box.com/s/l7736t4fi9mvmb0fj459oqd9d0x3g5nq
accounting 101, accounting overview, basics, and best practices
accounting 101, accounting overview, basics, and best practices. learn about external financial statements, internal managerial accounting reports, income tax systems and how they interact in business decision-making. in this course, we review the accounting equation, the three primary financial statements, how to use accounting basics to aid decision making, and how income taxes figure into business and personal decisions. this video tutorial includes: what is accounting? working with balance sheets and income statements, determining the costs of products, performing a break-even analysis, determining average and marginal tax rates, and understanding tax deductions and credits.
marketing 101, understanding marketing basics, and fundamentals
marketing 101, understanding marketing basics, and fundamentals. marketing refers to the activities of a company associated with buying and selling a product or service. it includes advertising, selling and delivering products to people. people who work in marketing departments of companies try to get the attention of target audiences by using slogans, packaging design, celebrity endorsements and general media exposure.
business 101 everything you need to know about business and startup basics
business 101: everything you need to know about business and startup basics. Learn the foundation concepts underlying all businesses, small to large. a video tutorial that covers all the basics, explaining concepts such as business goals, stakeholders, profits, and various types of businesses. Outlines what you need to think about if you were to start your own business, such as determining what your product or service will be, making and delivering your product or service, and funding your business.
branding 101, understanding branding basics and fundamentals
branding 101, understanding branding basics and fundamentals. Every business wants to be a customer's first choice. Building and managing a brand can play a significant part in making that happen. The concept of a brand extends far beyond just your company logo to your business' core values and to every interaction you have with customers and suppliers. In effect, your brand creates and maintains your reputation and so reflects your customers' experience of your organisation. Customers and employees can build up emotional attachments to certain brands, allowing for strong loyalties and even a sense of ownership. This can help maintain employee motivation and increase your sales but it can also cause problems if you don't consult these stakeholders as your business grows. Your brand is what you are really selling to your customers, not just a product or service for which there may already be many existing providers. A strong brand can make any business stand out from the crowd, particularly in competitive markets.
human resource management basics and fundamentals
human resource management basics and fundamentals. The process of hiring and developing employees so that they become more valuable to the organization. Human Resource Management includes conducting job analyses, planning personnel needs, recruiting the right people for the job, orienting and training, managing wages and salaries, providing benefits and incentives, evaluating performance, resolving disputes, and communicating with all employees at all levels. Examples of core qualities of HR management are extensive knowledge of the industry, leadership, and effective negotiation skills. Formerly called personnel management. Human resource management: A degree or level of freedom and discretion allowed to an employee over his or her job. As a general rule, jobs with high degree of autonomy engender a sense of responsibility and greater job satisfaction in the employee(s). Not every employee, however, prefers a job with high degree of responsibility.
MBA, marketing course
MBA, marketing course, whether you're rebuilding your marketing program from the ground up or leading the first campaign of your career, this video tutorial will help you lay the foundation for a successful marketing endeavor. we explain marketing's role business; provides frameworks for analyzing a business, its customers, and its competitors; and shows how to develop a successful marketing strategy and use that strategy to inform everything from pricing to promotion. you'll also learn to address tactical challenges and present the plan to get buy-in throughout a business, from the c-suite to the sales team, as well as use the marketing plan to guide outside agencies and vendors. finally, you'll learn how to launch the campaign and measure its performance. this video tutorial includes: marketing basics, assembling the team, creating the marketing plan, analyzing your products, customers, and market, segmenting customers, creating a value proposition, developing a strategy, setting goals, setting prices, using social media, presenting your plan to leadership, budgeting your plan, and measuring success.
business finance 101, business finance definition, basics, and best practices
business finance 101, business finance definition, basics, and best practices. Business finance is the funding we need for commercial purposes. Put simply, it is the money business people require to start, run, or expand a business. If you already have the money you use it. However, if you don’t there are several options. Investment finance, which we also call equity finance, means selling part of your business. You can do this by selling shares to an investor. However, bear in mind that you will lose some control. If the investor buys shares, he or she will also receive a share of the profits your business makes. We call firms or individuals that make their living by providing business finance venture capitalists. Crowdfunding is becoming an increasingly popular way of getting business finance. We also call it crowd-source capital or crowd financing. In most cases today, people use the Internet for crowdfunding. The aim is to get as many small investors as possible. There are websites dedicated to crowdfunding. Some people prefer to borrow the money in the form of a loan and repay over an agreed period. With a loan, you do not lose your independence. Furthermore, you still retain your stake in the business. People usually get business loans from banks. However, community development finance institutions and other businesses also offer loans. In fact, many successful businesses began with loans from friends or relatives. In a typical loan arrangement, the borrower has to pay back the capital plus interest. The capital in this context means the original amount.
MBA, business course
MBA, business course, learn the foundation concepts underlying all businesses, small to large. a video tutorial that covers all the basics, explaining concepts such as business goals, stakeholders, profits, and various types of businesses. outlines what you need to think about if you were to start your own business, such as determining what your product or service will be, making and delivering your product or service, and funding your business.
bookkeeping 101, bookkeeping overview, basics, and best practices
ookkeeping 101, bookkeeping overview, basics, and best practices. bookkeeping 101, bookkeeping overview, basics, and best practices. accountants use the credits and debits recorded in ledgers or "books" prepared by bookkeepers to create a company's financial statements. in this course, we walk you through the four key steps in the bookkeeping process: analyzing, recording, summarizing transactions, and preparing financial reports. we explain the components of a journal entry (debits and credits) and the essential questions a bookkeeper/accountant asks in reviewing those transactions. we also explain how accountants translate ledger information into financial statements, and the role of computer programs such as quicken in helping businesses manage their accounts.
marketing research for beginners, understanding marketing research fundamentals
marketing research for beginners, understanding marketing research fundamentals. Definition: The process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's target market, the industry as a whole, and the particular competitors you face. Market research provides relevant data to help solve marketing challenges that a business will most likely face--an integral part of the business planning process. In fact, strategies such as market segmentation (identifying specific groups within a market) and product differentiation (creating an identity for a product or service that separates it from those of the competitors) are impossible to develop without market research. Market research involves two types of data: Primary information. This is research you compile yourself or hire someone to gather for you. Secondary information. This type of research is already compiled and organized for you. Examples of secondary information include reports and studies by government agencies, trade associations or other businesses within your industry. Most of the research you gather will most likely be secondary. When conducting primary research, you can gather two basic types of information: exploratory or specific. Exploratory research is open-ended, helps you define a specific problem, and usually involves detailed, unstructured interviews in which lengthy answers are solicited from a small group of respondents. Specific research, on the other hand, is precise in scope and is used to solve a problem that exploratory research has identified. Interviews are structured and formal in approach. Of the two, specific research is the more expensive.
sales 101, sales skills & techniques you need to know
sales 101, sales skills & techniques you need to know. It all starts with knowing what you’re talking about. Prospects today are sometimes better informed than salespeople themselves. Sales conversations start much later in the information gathering process than they used to – by the time customers first talk to a salesperson, they are already overwhelmed with information. Instead of a hawker, they need an intelligent advisor who helps them filter the clutter of information they’re faced with. You need to know the market and your prospects’ pain points as well as you know your own product. You’ll only ever be truly good at it if you have a genuine interest in developing this knowledge. Modern sales skills demand spending more time researching prospects and learning about the market than other traditional sales techniques. This can inform every interaction you have with a prospect from first contact and nurturing to your sales pitch and closing the deal. The good news, you now have the tools you need to do this. For example, LinkedIn allows you to gather insights on sales prospects you never would have had access to in the past. It’s “the age of social” – that doesn’t just refer to social networks, but also to a social skillset. If the salesperson of the past was a talker, the modern one is a listener, who is sensitive to customers’ needs and preferences. Good modern salespeople spend a good deal of time researching prospects on social networks – to learn about their professional role and issues as well as their personal interests. Whether it's on LinkedIn as mentioned, or even on Twitter, it helps get to know your prospect as an individual, and establish a personal, meaningful connection. The pushy salesperson’s attentiveness is, at best, cosmetic. A great salesperson’s interest is sincere. And customers appreciate that effort, even if you get it slightly wrong. Salespeople have always had to be confident – but there’s a big difference between confidence fueled by ego and confidence backed by facts and research. Today’s informed buyers don’t want to be sold to – if they sense empty rhetoric, they’ll put up their defenses. Solid facts and personal relevance will earn their respect. The best way to learn what moves prospects is by talking to the people who know – other salespeople. Where “the lone wolves” of the past had their own secret pitch, the most successful salespeople today are great collaborators: they share best practices and give advice to each other – and they understand that offering their own unique insight will get them something equally valuable in return.
MBA, management course
MBA, management course, Management is the process of reaching organizational goals by working with and through people and other organizational resources. Management has the following 3 characteristics: It is a process or series of continuing and related activities. It involves and concentrates on reaching organizational goals. It reaches these goals by working with and through people and other organizational resources. MANAGEMENT FUNCTIONS: The 4 basic management functions that make up the management process are described in the following sections: PLANNING ORGANIZING INFLUENCING CONTROLLING. PLANNING: Planning involves choosing tasks that must be performed to attain organizational goals, outlining how the tasks must be performed, and indicating when they should be performed. Planning activity focuses on attaining goals. Managers outline exactly what organizations should do to be successful. Planning is concerned with the success of the organization in the short term as well as in the long term. ORGANIZING: Organizing can be thought of as assigning the tasks developed in the planning stages, to various individuals or groups within the organization. Organizing is to create a mechanism to put plans into action. People within the organization are given work assignments that contribute to the company’s goals. Tasks are organized so that the output of each individual contributes to the success of departments, which, in turn, contributes to the success of divisions, which ultimately contributes to the success of the organization. INFLUENCING: Influencing is also referred to as motivating,leading or directing.Influencing can be defined as guiding the activities of organization members in he direction that helps the organization move towards the fulfillment of the goals. The purpose of influencing is to increase productivity. Human-oriented work situations usually generate higher levels of production over the long term than do task oriented work situations because people find the latter type distasteful. CONTROLLING: Controlling is the following roles played by the manager: Gather information that measures performance Compare present performance to pre established performance norms. Determine the next action plan and modifications for meeting the desired performance parameters. Controlling is an ongoing process.
finance 101, finance overview, basics, and best practices
finance 101, finance overview, basics, and best practices. finance 101, finance overview, basics, and best practices. if you're looking to grow your career and take on greater responsibility within your organization, you'll need to demonstrate a basic understanding of finance and financial management—even if you're not in a financial role. you don't have to be a numbers person! you just should appreciate their role in business. in this course, we help you develop the financial acumen necessary to: understand finance basics and fundamentals, interpret financial reports and make decisions based on available data, manage inventory and receivables, create an accurate budget, cost a product or service, analyze customers, understand your income taxes, and communicate your contribution to the bottom line.
MBA, sales course
MBA, sales course, when sales forces are managed well, companies drive more revenue. in this course, we explain what sales management is, why it is important, and how you can get the skills you need to become an outstanding sales manager and recruit, train, retain, and manage a high-performing sales team. we also reveal how to motivate individual salespeople and teams with compensation and quotas. last, we provide an overview of creating and managing sales territories, including sales forecasting and evaluation of territories' performance. this video tutorial includes: acquiring talent, motivating your salespeople, forecasting sales performance, setting quotas, and evaluating and compensating salespeople.
understanding customer analysis - quick overview
understanding customer analysis - quick overview.
entrepreneurship 101, understanding entrepreneurship basics and fundamentals
entrepreneurship 101, understanding entrepreneurship basics and fundamentals. An entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise. An entrepreneur is an agent of change. Entrepreneurship is the process of discovering new ways of combining resources. When the market value generated by this new combination of resources is greater than the market value these resources can generate elsewhere individually or in some other combination, the entrepreneur makes a profit. An entrepreneur who takes the resources necessary to produce a pair of jeans that can be sold for thirty dollars and instead turns them into a denim backpack that sells for fifty dollars will earn a profit by increasing the value those resources create. This comparison is possible because in competitive resource markets, an entrepreneur’s costs of production are determined by the prices required to bid the necessary resources away from alternative uses. Those prices will be equal to the value that the resources could create in their next-best alternate uses. Because the price of purchasing resources measures this opportunity cost— the value of the forgone alternatives—the profit entrepreneurs make reflects the amount by which they have increased the value generated by the resources under their control.
time management pro tips for beginners
time management pro-tips for beginners. learn time management basics and fundamentals.
understanding assets, liabilities, and equity - quick overview
understanding assets, liabilities, and equity - quick overview.
understanding social media marketing - quick overview
understanding social media marketing - quick overview.
MBA, business planning course
MBA, business planning course, looking to build a business or expand the one you're already running? you'll need to build a business plan before you do. a video tutorial walks through the process of defining your business, researching the market, and determining your product.
marketing strategies 101, online marketing strategy basics, and best practices
marketing strategies 101, online marketing strategy basics, and best practices. it may seem obvious but knowing exactly what you want from your digital marketing efforts is key to achieving success. it is too often that we are given the brief of simply making improvements to the web to “get more visitors”. an online marketing strategy needs to be durable. the digital ecosystem is characterized by rapid change. the process of arriving at the strategy and the goals must, however, remain constant. it is possible to adapt within the strategy changing the tactics or the channel percentage but the underlying strategy remains until the is a significant paradigm shift. in this course, you will learn about online marketing strategy, content marketing strategy, social media marketing strategy, and email marketing strategy. define the audience: by understanding your audience you will be in a better position to give them what they are looking for. clearly, their needs have to coincide with your product or service’s benefits to be able to have a mutually valuable relationship. it is quite likely that you will have different types of people looking at your site and for each of them, you need to have the correct information available to be able to influence them to make the call to action – whatever that might be. content marketing takes a variety of forms and depending on how you form your strategy, could accomplish a number of different goals. for example, you could use white papers, ebooks and other long-form content to attract downloads, signups, and conversions, or you could use an on-site blog to attract more inbound traffic to your site. social media marketing isn’t the get-rich-quick scheme you may have been promised, but there is significant potential in building and nurturing a social media audience. again, content will come into play heavily here, as it will likely be the factor that attracts your audience, to begin with. here, you stand to gain greater brand visibility, a greater reputation and far more inbound traffic with your syndicated links. email marketing has the astounding potential for ROI because it costs almost nothing to execute. start collecting subscribers from your existing customer base, your social media followers and other new opportunities; from there, even a simple content newsletter can help you encourage repeat traffic to your site, facilitate more engagement with your brand and keep your brand top-of-mind with your audience.
investing 101, investing overview, basics, and best practices
investing 101, investing overview, basics, and best practices. What is 'Investing'? Investing is the act of committing money or capital to an endeavor (a business, project, real estate, etc.), with the expectation of obtaining an additional income or profit. Investing also can include the amount of time you put into the study of a prospective company. income that results from investing can come in many forms, including financial profit, interest earnings, or the appreciation of the asset. Investing refers to long-term commitment, as opposed to trading or speculating, which are short-term and often deal with heavy turnover and, consequently, a higher amount of risk. Intelligent investing is key to building wealth. Investing always contains risk as the business you invest in could go down in value or even close down completely. It is important to research the business and analyze the risk of investing before putting money down. To learn more about how investments generate capital and why an investment might benefit you, read "How Will Your Investment Make Money?" The term investing can also refer to time. For example, you could invest your time in working on a project or mentoring a promising young talent. In both of these situations, the same desired outcome applies as investing money: You're hoping to reap some sort of benefit. This benefit could come in the form of professional success (which can also lead to monetary profit) or the satisfaction of supporting another person. How to Invest? You can make an investment at a bank, with a broker or an insurance company; one can invest directly – via an angel or seed investment in a startup venture – and in several other forms. In many cases, institutions pool investment money from several individuals to make more large-scale investments, such as a majority stake in a company in order to gain more voting rights. Each individual investor can continue to hold a claim on the portion of the larger investment in some cases. Brokers handle orders for many public company stocks in exchange for a fee or commission. If you want to try your hand at investing but don't know where to start, read "Investing 101: A Tutorial For Beginner Investors." Types of Investment While a fixed income investment refers to an opportunity that brings in a set amount of interest income on a regular basis, such a bond or preferred share of a company, investments also take the form of common equity stakes. Both preferred and common company shares are forms of corporate ownership in publicly traded companies. In private equity, forms of investment also include equity stakes; however, these stakes are not traded on a public exchange.
understanding job description - quick overview
understanding job description - quick overview.
MBA, advertising course
MBA, advertising course, learn the fundamentals of effective advertising and marketing communications. in this course, we provide an overview of the current media landscape, and the building blocks and relative costs of a basic advertising plan. we outline the basic process of getting your message to market and provides tools to help you refine your market focus, define your customer profiles, and establish your overall media strategy. whether you want to do it yourself, partner with ad agencies, or work in a corporate marketing department, this course will help you understand what the ad footprint of any company, regardless of size, needs to succeed. this video tutorial includes: defining your audience, crafting your message, placing your ad, establishing a digital, competitive, and editorial presence, working with advertising partners, and working with an ad agency.
digital marketing 101, digital marketing overview, basics, and best practices
digital marketing 101, digital marketing overview, basics, and best practices. Digital marketing is an umbrella term for all of your online marketing efforts. Businesses leverage digital channels such as Google search, social media, email, and their websites to connect with their current and prospective customers. Digital marketing is an umbrella term for all of your online marketing efforts. Businesses leverage digital channels such as Google search, social media, email, and their websites to connect with their current and prospective customers. The reality is, people spend twice as much time online as they used to 12 years ago. And while we say it a lot, the way people shop and buy really has changed, meaning offline marketing isn’t as effective as it used to be. Marketing has always been about connecting with your audience in the right place and at the right time. Today, that means that you need to meet them where they are already spending time: on the internet. Enter digital marketing -- in other words, any form of marketing that exists online. Click here to download our free guide to digital marketing fundamentals. At HubSpot, we talk a lot about inbound marketing as a really effective way to attract, convert, close, and delight customers online. But we still get a lot of questions from people all around the world about digital marketing. Whilst a seasoned inbound marketer might say inbound marketing and digital marketing are virtually the same thing, there are some minor differences. And after having conversations with marketers and business owners in the U.S., U.K., Asia, Australia, and New Zealand, I’ve learned a lot about how those small differences are being observed across the world. So What Exactly is Digital Marketing? From your website itself to your online branding assets -- digital advertising, email marketing, online brochures, and beyond -- there’s a huge spectrum of tactics and assets that fall under the umbrella of digital marketing. And the best digital marketers have a clear picture of how each asset or tactic supports their overarching goals. Here’s a quick rundown of some of the most common assets and tactics: Assets website Blog posts Ebooks and whitepapers Infographics Interactive tools Social media channels (Facebook, LinkedIn, Twitter, Instagram, etc.) Earned online coverage (PR, social media, and reviews) Online brochures and lookbooks Branding assets (logos, fonts, etc.) Tactics Search Engine Optimization (SEO) The process of optimizing your website to ‘rank’ higher in search engine results pages, therefore increasing the amount of organic (or free) traffic that your website receives. Content Marketing The creation and promotion of content assets for the purpose of generating brand awareness, traffic growth, lead generation, or customers. Inbound Marketing Inbound marketing refers to the ‘full-funnel’ approach to attracting, converting, closing, and delighting customers using online content. Social Media Marketing The practice of promoting your brand and your content on social media channels to increase brand awareness, drive traffic, and generate leads for your business. Pay-Per-Click (PPC) A method of driving traffic to your website by paying a publisher every time your ad is clicked. One of the most common types of PPC is Google AdWords. Affiliate Marketing A type of performance-based advertising where you receive commission for promoting someone else’s products or services on your website. Native Advertising Native advertising refers to advertisements that are primarily content-led and featured on a platform alongside other, non-paid content. BuzzFeed sponsored posts are a good example, but many people also consider social media advertising to be ‘native’ -- for example, Facebook advertising and Instagram advertising. Marketing Automation Marketing automation refers to the software that exists with the goal of automating marketing actions. Many marketing departments have to automate repetitive tasks such as emails, social media, and other website actions. Email Marketing Companies use email marketing as a way of communicating with their audiences. Email is often used to promote content, discounts and events, as well as to direct people towards the business’ website. Online PR Online PR is the practice of securing earned online coverage with digital publications, blogs, and other content-based websites. It’s much like traditional PR, but in the online space.
advertising 101, advertising skills & techniques you need to know
advertising 101, advertising skills & techniques you need to know. Advertising is a marketing tactic involving paying for space to promote a product, service, or cause. The actual promotional messages are called advertisements, or ads for short. The goal of advertising is to reach people most likely to be willing to pay for a company’s products or services and entice them to buy.
managerial accounting 101, managerial accounting definition, basics, and best practices
management accounting 101, managerial accounting definition, basics, and best practices. managerial accounting helps managers make decisions using an organization's financial data. an understanding of managerial accounting helps you figure out how much a product costs, analyze when your company breaks even, and budget for expenses and future growth. in this course, we cover all the fundamentals, including costs and cost behaviors, cost-volume-profit (cvp) relationships, cost flows, standard costing, and activity-based costing, and budgeting. course topics include planning, controlling, and evaluating costs, controlling product flow costs, performing cvp analysis, understanding cost flows in different industries, understanding standard product costing and variances, understanding activity-based costing, budgeting, and capital budgeting.
financial forecasting 101, financial forecasting overview, basics, and best practices
financial forecasting 101, financial forecasting overview, basics, and best practices. Financial forecasting is the processing or estimating or predicting how a business will perform in the future. The most common type of financial forecast is an income statement, however, in a complete financial model all three statements are foretasted. In this guide on how to build a financial forecast, we will complete the income statement model from revenue to operating profit or EBIT.
understanding agile marketing | workflow - quick overview
understanding agile marketing | workflow - quick overview.
understanding demographic segmentation - quick overview
understanding demographic segmentation - quick overview.
understanding twitter marketing - quick overview
understanding twitter marketing - quick overview.
setting goals 101, understanding setting goals basics and fundamentals
setting goals 101, understanding setting goals basics and fundamentals. If you want to succeed, you need to set goals. Without goals you lack focus and direction. Goal setting not only allows you to take control of your life's direction; it also provides you a benchmark for determining whether you are actually succeeding. Think about it: having a million dollars in the bank is only proof of success if one of your goals is to amass riches. If your goal is to practice acts of charity, then keeping the money for yourself is suddenly contrary to how you would define success. To accomplish your goals, however, you need to know how to set them. You can't simply say, "I want" and expect it to happen. Goal setting is a process that starts with careful consideration of what you want to achieve, and ends with a lot of hard work to actually do it. In between, there are some very well-defined steps that transcend the specifics of each goal. Knowing these steps will allow you to formulate goals that you can accomplish. 1. Set Goals That Motivate You When you set goals for yourself, it is important that they motivate you: this means making sure that they are important to you, and that there is value in achieving them. If you have little interest in the outcome, or they are irrelevant given the larger picture, then the chances of you putting in the work to make them happen are slim. Motivation is key to achieving goals. Set goals that relate to the high priorities in your life. Without this type of focus, you can end up with far too many goals, leaving you too little time to devote to each one. Goal achievement requires commitment, so to maximize the likelihood of success, you need to feel a sense of urgency and have an "I must do this" attitude. When you don't have this, you risk putting off what you need to do to make the goal a reality. This in turn leaves you feeling disappointed and frustrated with yourself, both of which are de-motivating. And you can end up in a very destructive "I can't do anything or be successful at anything" frame of mind. 2. Set SMART Goals You have probably heard of SMART goals already. But do you always apply the rule? The simple fact is that for goals to be powerful, they should be designed to be SMART. 3. Set Goals in Writing The physical act of writing down a goal makes it real and tangible. You have no excuse for forgetting about it. As you write, use the word "will" instead of "would like to" or "might." For example, "I will reduce my operating expenses by 10 percent this year," not "I would like to reduce my operating expenses by 10 percent this year." The first goal statement has power and you can "see" yourself reducing expenses, the second lacks passion and gives you an excuse if you get sidetracked. 4. Make an Action Plan This step is often missed in the process of goal setting. You get so focused on the outcome that you forget to plan all of the steps that are needed along the way. By writing out the individual steps, and then crossing each one off as you complete it, you'll realize that you are making progress towards your ultimate goal. This is especially important if your goal is big and demanding, or long-term. Read our article on Action Plans for more on how to do this. 5. Stick With It! Remember, goal setting is an ongoing activity, not just a means to an end. Build in reminders to keep yourself on track, and make regular time-slots available to review your goals. Your end destination may remain quite similar over the long term, but the action plan you set for yourself along the way can change significantly. Make sure the relevance, value, and necessity remain high.
administrative human resources 101, administrative human resources basics, and best practices
administrative human resources 101, administrative human resources basics, and best practices. hr administration is vital to the success of every business and every employee. effective hr administrators make sure companies stay compliant with regulations, and keep their employees motivated and engaged. if you are a small business owner who wants a deeper understanding of hr, someone looking for a job in hr, or an administrative professional whose duties include hr, this training course is for you. it provides a general introduction to the role and duties of an hr administrative professional. we outline some of the considerations of the human resources professional, such as balancing the needs of employees with the interests of the organization. we reveal how to conduct an hr audit to identify hr practices that need improvement. we then outline core hr responsibilities: staffing, training, documentation, compensation and benefits, performance reviews, job descriptions, compliance with state and federal regulations, and more.
strategic planning 101, strategic planning definition, process, and best practices
strategic planning 101, strategic planning definition, process, and best practices. how to implement a strategic planning process in your organization—a process that can be repeated yearly and ensures you get input from all relevant stakeholders. in this course, we show you how to establish and articulate your organization's core competencies, vision, mission, and strategic filters. using these criteria, we show how to prioritize competing initiatives, how to allocate resources to best support those initiatives, and how all of these factors combine to create a compelling strategic plan.
business communication 101, business communication skills basics, and best practices
business communication 101, business communication skills basics, and best practices. communication plays a fundamental role in all facets of the business. it is therefore very important that both internal communication within your organization as well as the communication skills of your employees are effective. the following six reasons will explain why effective communication should be a focus in your business. 1. builds and maintains relationships: relationships are built and can be maintained by positive encounters with others. communication will be key to this process – without effective skills, it will be difficult to properly construct and foster productive relationships. 2. facilitates innovation: when employees feel comfortable in openly communicating new ideas, cooperation and innovation will be at an all-time high. in addition, if staff are unable to convey their ideas due to limited communication skills, it is likely that the idea will not be implemented to its full potential. 3. builds an effective team: if open communication within a workplace is encouraged, a more cohesive and effective team will emerge. good communication within a team also tends to boost employee morale. when employees feel that they are well informed of the company’s direction and vision, they will feel more secure within their role. regular internal communication can also lead to an improved work ethic if staff are reminded of achievements and feel that they are working towards a common goal. 4. managing employees: when managers are effective communicators, they are more able to inform staff adequately of their responsibilities and what is expected from them. good communication skills also help managers to provide constructive feedback to their staff, build better relationships, and understand personal goals that staff may wish to work towards. 5. contributes to the growth of the company: a lack of communication can lead to the collapse of any organization. whilst that is a bold statement – without proper marketing collateral and communication internally and externally, most organizations will struggle to survive. communication can also lead to productivity and helps to avoid unnecessary delays in the implementation of policies. 6. ensures transparency: when regularly communicating both internally and externally, organizations remain more transparent. this is important in building trust in your brand, in your services and also internally when it comes to the trust that employees have in higher management.
financial planning 101, personal financial planning basics and fundamentals
financial planning 101, personal financial planning basics and fundamentals. Financial Planning is the process of estimating the capital required and determining it’s competition. It is the process of framing financial policies in relation to procurement, investment and administration of funds of an enterprise. Objectives of Financial Planning Financial Planning has got many objectives to look forward to: Determining capital requirements- This will depend upon factors like cost of current and fixed assets, promotional expenses and long- range planning. Capital requirements have to be looked with both aspects: short- term and long- term requirements. Determining capital structure- The capital structure is the composition of capital, i.e., the relative kind and proportion of capital required in the business. This includes decisions of debt- equity ratio- both short-term and long- term. Framing financial policies with regards to cash control, lending, borrowings, etc. A finance manager ensures that the scarce financial resources are maximally utilized in the best possible manner at least cost in order to get maximum returns on investment.
understanding business performance analysis - quick overview
understanding business performance analysis - quick overview.
financial modeling 101, financial modeling basics, and best practices
financial modeling 101, financial modeling basics, and best practices. what is financial modeling? planning for the future of your small business is an important part of success. financial modeling takes different shapes, but basically, it’s about plugging different numbers and scenarios into a formula very often on an excel sheet and seeing the effect they have. a well-built financial model will help a business owner understand the costs and profits from their management decisions. what will it cost to open a new location, hire a new employee, and how does that impact the bottom line? these can even tell businesses they have enough customer service people to take on the number of customers they want to next year. that’s why using financial statements and market research will give you more accurate results. it’s even a good idea to consider a professional consultant to get an objective base to start from. you can get a bunch of different scenarios by changing the variables which can be factors like the size of your target market, price per unit (which can even include extra selling costs like transportation) and estimated profit. one of the best things about financial modeling is it’s always a work in progress. as time goes by and your small business conditions change, you’ll always have the ability to plug in new numbers to see what comes out. as you might imagine, there are a variety of financial models to choose from. however, there are a few that are considered standards: three-statement model. this is one of the more basic ones that covers incomes statements, cash flow, and balance sheets. discounted cash flow model. don’t let the name scare you off. this model builds on the previous one to value a company. budget models. as the name implies, this is the model that’s used to put a budget together. other models that small business should find helpful include a forecasting model and option pricing model that basically makes use of the calculator built into excel.
personal branding pro tips for beginners
personal branding pro-tips for beginners. learn branding basics and fundamentals.
business budgeting 101, budgeting definition, basics, and best practices
business budgeting 101, budgeting definition, basics, and best practices. It's a basic tenet of business - before you can make money you have to figure out how to spend it. Drafting a budget is a key way to help you turn your dreams for business success into reality. Using this vital tool, you can track cash on hand, business expenses, and now much revenue you need to keep your business growing -- or at least afloat. By committing these numbers to paper, your chances of succeeding with your business are helped by anticipating future needs, spending, profits and cash flow. It also may let you spot problems before they mushroom, so that you can switch gears. "It's like a roadmap for your company" Conversely, if you don't have the discipline to sit down and assemble a business budget, you may not have insight into how your business is performing from year to year, whether there are cuts you can make to improve performance and whether you have the needed funds to purchase new equipment -- be it computers, trucks, machinery, or a new factory.
understanding social media marketing basics and fundamentals
understanding social media marketing basics and fundamentals. Goal setting is a staple of all marketing and business strategies. Social media is no exception. Of course, with a range of social capabilities, it can be difficult to determine exactly what your objectives should be. For guidance, here are some common social media marketing goals to consider: Increase brand awareness: To create authentic and lasting brand awareness, avoid a slew of promotional messages. Instead, focus on meaningful content and a strong brand personality through your social channels. Higher quality of sales: Digging through your social channels is nearly impossible without monitoring or listening to specific keywords, phrases or hashtags. Through more efficient social media targeting, you reach your core audience much faster. Drive in-person sales: Some retailers rely on social media marketing efforts to drive in-store sales. Is your brand promoting enough on social to reward those who come to you? What about alerting customers to what’s going on in your stores? Improve ROI: There’s not a brand on social media that doesn’t want to increase its return on investment. But on social, this goal is specific to performing a thorough audit of your channels and ensuring cost of labor, advertisements and design stay on track. Create a loyal fanbase: Does your brand promote user-generated content? Do your followers react positively without any initiation? Getting to this point takes time and effort with creating a positive brand persona on social. Better pulse on the industry: What are your competitors doing that seems to be working? What strategies are they using to drive engagement or sales? Having a pulse on the industry could simply help you improve your efforts and take some tips from those doing well.
personal branding 101, how to stand out from the crowd?
personal branding 101, how to stand-out from the crowd? What do you wish for people to associate with you when they think of your name? Is there a certain subject matter in which you want to be perceived as an expert or are there general qualities you want linked to your brand? Once you understand how you wish your brand to be perceived, you can start to be much more strategic about your personal brand.
MBA, business analysis course
MBA, business analysis course, when you're trying to grapple with user demands and market changes, it can be difficult to mentally zoom out and assess your organization's operations. business process modeling helps you see the big picture by allowing you to translate your business processes into easily understood pictures. in this video tutorial, we walk you through the most widely used business process modeling diagrams—context, functional flow, cross-functional flow, and flowchart—and explains the purpose of each one. we share unique features, explains how to use that technique to create a diagram, and points out how to avoid common pitfalls. we also pull it all together by comparing process diagrams to help you determine which diagram you should use to document your organization's business process. this video tutorial topics include: using common modeling tools, determining when to use a modeling diagram, avoiding the pitfalls associated with each diagram, creating diagrams, and leveraging key stakeholders.
what is growth hacking? understanding growth hacking basics and best practices
what is growth hacking? understanding growth hacking basics and best practices. growth hacking is a set of cross-disciplinary skills with 1 goal and 1 goal only: to grow a startup or a business. this means the only focus of a growth hacker is growth, growth and growth. the ultimate goal is to find a predictable, repeatable and scalable growth process. therefore, growth hacking is a process. and this is this process that many companies used to find new growth hacks. what people often forget when reading about successful growth hacking examples like uber, airbnb or facebook, it's that it took a long learning process before finding an effective growth hack. the growth hacking process can be applied either when you are building a startup from scratch or when your business is more advanced. first, it’s important as a startup to choose which metrics or kpis (key performance indicators) to focus on. each startup needs to have its own metrics. startups are defined by their search for growth and choosing the right kpis is key for your startup. in order to bring growth, a growth hacker has many channels he can use: seo, sem, social media (smo, smm), content marketing, pr, email marketing, online/offline event organizations, video marketing, aso, referral marketing (viral growth), ui/ux, gamification, business development/strategic alliances, sales… having an effective sales and marketing strategy in place is what can make your startup go from failure to success. growth hacking is nothing without analytics. without data analysis, growth hacking would be ineffective. you need to be able to track what you’re doing. every action you take needs to be trackable, if you can’t, then you cannot see results and you cannot improve your strategy. having a data-driven mindset is crucial. you don't just want to focus on acquisition, but also on your conversion rate optimization (cro), your retention, etc. users’ feedback is extremely important. during a/b testing, you need to get feedbacks from users. sometimes it can be annoying to get feedbacks, especially when it’s negative but it is crucial to improve your product and make it more user-centric. negative feedback is the most important actually. you need to take care of unhappy users/customers, they are the best ones. why? 96% of unhappy users leave your product without telling you why, which means you most likely won’t know what was wrong. the 4% telling you why, explain you and allow you to improve your product, which means they can become evangelists if they really like your product’s improvements. if they complain, it is usually because they need your product the most and they just want it to be perfect.