Mark Zuckerberg, Andrew Gower and Chad Hurley prove that success is not only for seasoned businessmen. What makes them spirited in the trade is that they realize they also have 24 hours-a-day to work their dream out, just like what Bill Gates and Rupert Murdoch have in a day.
Business deals with the rapid changes in the world. A product introduced to be used for texting and calling has now changed. Now, it can be used for browsing the internet. Modern man calls it “tablet PC”. Charles Darwin describes the phone to have undergone “evolution. ”
Changes also come to the pricing of products, goods and services. Economists always expect inflation, means an increase of prices. But not at all times since deflation also exists. The bottom line is that prices change. Everything changes.
Cost-cutting is a normal phenomenon. It may hurt the business and its employees, leading to bad publicity. However, sincere explanation why such move should be implemented can help broken hearts heal.
The truth is there are other ways to implement cost-cutting without roughly hurting people. These ways deal with proper financial management. These strictly involve buying of needed office materials, hiring of efficient people, paying of bills on time and other simple ways to stop recurring non-sense and extravagant expenses.
One of the best ways to show love to customers is by offering them luxurious rewards (if they stay loyal). Promotions may come in the form of freebies, cash, discounts or special products. Promotions also offer a temporary escape during crises.
However, offering promotions should not be a habit at all. It has been misunderstood that the goal when running promotions is to purely attract a massive number of new customers. Businesses run promos to give back to loyal customers during special times, like Valentines and Christmas.
Advocacy plus Charity
A business exists with its obligation of giving back to the society. Thus, a number of corporate foundations have been built through time to help victims of human rights violations, casualties of natural disasters, people in remote areas and are in need of educational materials etc. Supporting an advocacy stays as a very powerful PR tool in building a trusted brand.
Going business comes with great responsibilities. And big businesses have bigger responsibilities. This principle may have been heard from Spiderman, but it is true. This explains why international brands implement big campaigns while the less famous ones support community events. However, it is not the size of the project that matters. It is the sincerity of the business in supporting the cause.
In the past decades, business was a bit different. It was producer or manufacturer-oriented. Now, it is customer-oriented. Today, every business decision positively affects customers. This trend gave rise to the customer support department. This new department aims to reach out to customers so availed products, goods and services are utilized properly.
Off-shore companies have also multiplied in number to compliment the needs of other companies. Sounds weird but outsourcing human resources is much cheaper and wiser to do.
The business of doing business in this generation is defined by going online. In short, it is by setting up a corporate website. No business nowadays exists without a website. Most businesses also go social media when marketing their offers. This explains why Zuckerberg, Gower and Hurley are successful at a very young age.