Posts Tagged ‘Business’

Being Right Versus Being Profitable

Tuesday, April 15th, 2014 by

Here is an interesting scenario that I heard today. Imagine you had a business relationship with another company that was helping you make money and vice versa. While it was a win-win situation, it turned out one side wanted to jump ships as they felt the grass was greener on the other side. So the other business took this as a bit of an insult. While they were certain they would fail if they moved, the other option was to essentially do what it takes to keep that relationship as businesses wise you could keep using them to help you grow, so to speak.

It didn’t end up that way as this was too much of an insult for the business and so they parted ways. As the years went by this created more competition for the business as a result of the other company now helping the competitor. In the end they were right as they did fail financially, but this also meant all this time competing with them resulted in less profit as well. Kind of an interesting question there. Would you be inclined to do what’s best for business, so to speak, or would your ethics and principles take the front seat in the decision making?

Kind of tricky as I think this is one of those scenarios where people’s answers will probably vary depending on if the situation is actually placed in front of them. A more common/simple example would be like an employee who you felt went out of line. Example, if your best salesman whom you helped when he had nothing starts acting like he is the only one that matters while constantly saying he is thinking of going to a competitor for more money would you do what it takes to keep him or would you simply let him go just to be right?

One of those things where many people say you should take the emotion out of making business decisions. I bet it is easier said than done though huh?

Reading The Terms of Service For Free Phone Apps

Sunday, April 13th, 2014 by

Interesting topic I was hearing today about how so many apps out there for smartphones request that when you use it you authorize the company to do things such as record your voice, turn your camera on or other things like seeing your contact list. Essentially, it was how many times the apps are free because you are essentially exchanging a lot of personal information about yourself and that data is worth a lot of money.

This is nothing too new in general as companies have been doing these types of things forever. There were just some examples that got people thinking more such as how some free bank apps say that you give them permission to record your conversations with the justification that if they record you if there was ever a dispute such as a transaction fraud they can use this recording as verification. Of course the different spin on this was people were saying anyone in the organization can just turn it on.

I usually try to minimize the apps I install personally. I never thought it was a good idea to just install everything simply because it is free. Can’t put a price on your privacy.

Amy’s Baking Company Story

Wednesday, April 9th, 2014 by

I bumped into a story today about an episode of Kitchen’s nightmare. It dealt with a restaurant called Amy’s Baking Company and what made it interesting was how the owners seem to have this cyber battle with its customers. For example, there was apparently one incident where a customer posted a bad Yelp review and the owner left a rather nasty response as you can see here http://blogs.phoenixnewtimes.com/bella/2010/08/ouch_todays_hard_lesson_on_yel.php

It was awkward listening to the owner justifying all this too where it was essentially a situation of if you hit them then they hit you back. It’s sure an interesting case study though of social media and how it can impact a business I thought. At the same time, is it better to simply ignore or respond to what you feel are just negative artificial comments that are trying to get a reaction out of you?

I think the best comment I heard was that if people are truly just posting negative stuff because of like a crowd mentality then as a business you need to make it as easy as possible for those that support you to get their voices out there. When you think it about it, it’s basically your customers that will be doing the “debating” for you as opposed to yourself. That’s the way it should be in the end isn’t it? Example, you focus in providing the best and it will take care of itself from there.

Of course I don’t have first-hand experience with this place and am relying on solely the media that is available. But wow, it sure shows you that you can’t just go ballistic even if someone is saying what you feel is inaccurate. Unless your goal is just to get TV ratings that is.

Trying To Find Last Minute Reviews

Monday, April 7th, 2014 by

Today while shopping I saw that there was a bundle of coconut water on sale and it sounded like a reasonable deal. The problem was I had no experience with this particular brand and since it was a bundle of six one litre packages it would be a waste if I didn’t actually like it. Therefore, my first reaction was to go online and attempt to find user reviews of the product.

This made me think how this is like the new way that many people decide on whether or not to buy your products or services. There have been a few occasions over the week where I have seen other people and businesses do the same when they are looking for some kind of third party solution. Kind of shows you the importance of investing in social media in general and trying to make sure as many people as possible put out a good word for you huh? Of course this can mean more fake reviews too and so you need to try and screen those out.

Maybe I should find like some kind of mobile community for things like this. It would be very handy.

Flexibility To Juggle Schedules

Tuesday, April 1st, 2014 by

I was recently asked to work on a project that was given very little notice, but it sounded good and so I accepted it. The first thing I thought of was how I was going to juggle my schedule around to adapt to it? The solution was pretty simple as I essentially sacrificed my personal time to get other work done ahead of time where I won’t have to worry about it later. So in the end it will work out fine.

It made me think how it can be important to be able to be flexible to take various opportunities as they can appear at any time. One important factor too is that I have planned ahead of time to have the capability to do work even when I am not in like an office. This doesn’t necessarily means that everyone needs like a super laptop for example or that it is tech related. It could even be knowing other people who can help you do the work in tight time situations as well.

Usually people only start thinking about this when they actually need to find a solution for it. That’s too late I think. Spend a little time investing in a solution and maybe it will help your hectic lifestyle as well I think.