Online Business Marketing Seminars » Social Entrepreneurs

Advantages and Disadvantages of Joint Venture

ewwink — Sun, 05 Jun 2011 11:12:09 +0000

Smart entrepreneurs and business owners know that Joint Ventures are the fastest and most effective way to radically increase sales and profits with virtually no money and no risk, as long as its done correctly.

The Advantages of Joint Ventures are speed, access, sharing of resources and the leveraging of underutilized resources, high profits, back end income, low or no risk opportunities and massive leverage.

The Disadvantages of Joint Ventures are the possibility of being ripped off or disappointed by unscrupulous and unprofessional JV partners, and hurting your reputation and/or customers and associates by associating with the wrong people, even unknowingly.

There is a way to locate and contact really solid JV partners, however. The DollarMakers Joint Venture Forum might be the solution for you. We carefully screen Members and the support and education provided are very effective. For more information on the advantages and disadvantages of joint venture read below.

Women – The Innovative Entrepreneurs

ewwink — Wed, 20 Oct 2010 00:33:44 +0000

More than one-third of entrepreneurs in the United States are women, and the growth in the number of woman-owned firms is more than double the rate of all U.S. firms. Stay-at-home moms are multi-tasking more than ever. In between childcare, cooking and cleaning, they are cranking out inventions that are making them millions. In America, women start 424 new enterprises every day that’s more than twice as many as men. These mothers of invention have nurtured their creative ideas outside the corporate box. Knowing how to stretch a dollar, these resourceful women started simple, by keeping costs down and production up!

Today, women entrepreneurs employ more people than the Fortune 500 combined. Throughout history there are many successful woman entrepreneur models such as Madame C. J. Walker (born Sarah Breedlove) listed in the Guinness Book of World Records as the First Female African-American to become a Millionaire by her own achievements. Orphaned at the age of seven, Walker built a thriving beauty products business in the early 20th century, employing over 3,000 people. She was noted for working hard, honest business dealings and quality products led her to success.

According to a recent U.S. national poll, try to guess who was the most admired entrepreneur? Was it Bill Gates? Donald Trump? Nope — Oprah Winfrey stood out head and shoulders above the rest. The story of Oprah’s life success is truly inspiring as she overcame many challenges. Today, Oprah is admired as the most influential woman in the world.

Today, over 11-million creative woman entrepreneurs are using their ingenuity to fill niches on their own terms. The reasons women start their own company varies but research shows 46% want more control over their schedules, 23% were frustrated with the corporate environment, while 24% saw a niche and filled it. These successful woman entrepreneurs all share a common characteristic: they think outside the box.

The Small Business Administration’s Women-21.com or EthosMentor.com both one-stop shop resources centers for woman entrepreneurs; the fastest growing group of business owners. An explanation for why women have emerged as an important entrepreneurial group and why they have moved beyond traditional sectors can be found in examinations of changes in women’s human capital-especially their educational access and occupational representation.

Several online social networks offer support for woman entrepreneurs of all backgrounds such as; MillionaireMoms.com, MomInventors.com, BlackEnterprise.com, Woman’sWork.com, BlackBusinessWomanOnline.com, and HomeBasedWorkingMom.com . Today, woman entrepreneurs are the first generation from the cross platform, device agnostic, multimedia world in which we live in. Now, they take cues from both to put a personal stamp on business. They don’t just tap the insight of other women entrepreneurs, but encourage networking and support their success.

Here’s some popular networking techniques used by woman entrepreneurs:

Keep It Small: Networking at the executive level is rarely done via big parties or industry mixers, regardless of gender. Woman entrepreneurs mainly connect through one-on-one meetings or small, exclusive dinners and get-togethers giving everybody a chance to relax. It fosters a great climate for brainstorming and meeting new executives.

Keep It Selective: One of the key elements to networking isn’t just how but who. It’s most advantageous to connect with like-minded individuals and coordinate dinners or drinks with an eye on synergy between attendees. It can also help guests feel more comfortable in sharing insight or contacts.

Keep It Consistent: They regularly make an effort to connect with fellow women in business to put heads together and conjure new ideas. It’s done via a variety of ways, from email, to cell texting to instant messaging to in-person meetings, but most importantly, it’s constant.

Keep It Focused: While gatherings are often in a social or relaxed environment, make no mistake – it’s all about business. Networking can be fun, but keep it productive as well.

The success of women entrepreneurs is a dynamic trend. Perhaps a hybrid of Baby Boomer work ethic, 70s freedom, and the great women in business boom of the 80s and 90s, they’re an inspiration of drive, ambition and an anything-is-possible mindset. What’s interesting is that it goes beyond the business world into every corner of their lives. They have rich social lives and good friends, husbands, great families, and live comfortably. They love style, looking good, support social change, and most of all, are happy.

Now it’s your turn to take the steps to achieving your dream and go for the gold waiting for you at the end of the finish line. For more information visit: www.ethosmentor.com

Effective Management

ewwink — Fri, 10 Sep 2010 13:04:28 +0000

Effective management

Dr.N.C.Martin, Ph.D

Lecturer – HOD

Department of Social Work

Shree Chandra Prabhu Jain College, Minjur, Chennai.

Planner

A Manager has to take a long-term view; while a team member will be working towards known and established goals, the manager must look further ahead so that these goals are selected wisely. By thinking about the eventual consequences of different plans, the manager selects the optimal plan for the team and implements it. The manager ensures that work is not repeated nor problems tackled too late, and that the necessary resources are allocated and arranged.

Provider

The Manager has access to information, which the team needs. The role of a manager is important because authority, which the manager holds uniquely within the team and the manager, must exercise the power for the benefit of the team for the effective productivity.

Protector

In any company, there are problems, which can deflect the work force. The manager should be there to guard against these and to protect the team. If a new project emerges which not given an impossible deadline. If someone in your team brings forward a good plan, you must ensure that it receives a fair hearing and that your team knows and understands the outcome. If someone is in your team has a problem at work, you have to deal with it.

Inspires a Shared Vision

An effective manager is often described as having a vision of where to go and the ability to articulate it.

Qualities of a Manager

Good Communicator

The ability to communicate with people is the most important skill by managers and team members. The Manager is also the team’s link to the larger organisation. He must have the ability to effectively negotiate and use persuasion when necessary to ensure the success of the team and project. Through effective communication, manager support individual and team achievements by creating guidelines for accomplishing tasks and for the career advancement of team members.

Enthusiasm

If Managers are negative – they bring staffs down. Manager with enthusiasm, with a bounce in their step, with a can-do attitude. Many people tend to follow people with a can-do attitude. Enthusiastic Managers are committed to their goals and express this commitment through optimism.

Competence

Managers will be chosen based on their ability to successfully lead others rather than on technical expertise, as in the past. Having a winning track record is the surest way to be considered competent. Expertise in management skills is another dimension in competence. The ability to challenge, inspire, enable, model and encourage must be demonstrated if managers are to be seen as capable and competent.

Ability to Delegate Tasks

Trust is an essential element in the relationship of manager and his or her team. You demonstrate your trust in others through your actions – how much you check and control their work, how much you delegate and how much you allow people to participate.

Cool Under Pressure

In a perfect world, projects would be delivered on time, under budget and with no major problems or obstacles to overcome. A leader with a hardy attitude will take these problems in stride. When leaders encounter a stressful event, they consider it interesting, they feel they can influence the outcome and they see it as an opportunity.

Team-Building Skills

A team builder can best be defined as a strong person who provides the substance that holds the team together in common purpose toward the right objective. In order for a team to progress from a group of strangers to a single cohesive unit, the leader must understand the process and dynamics required for this transformation. He or she must also know the appropriate leadership style to use during each stage of team development. The leader must also have an understanding of the different team players styles and how to capitalise on each at the proper time, for the problem at hand.

Communicate the big picture

If you want your employees to work hard and be committed to your business, you have to keep them in the loop. Open communication helps foster loyalty and gives employees a sense of pride. It helps them understand how their work contributes to the company’s success.

Delegate work and responsibilities

Some employees, share their workload with them and assign the work according to people’s strengths and weaknesses, and let employees develop their own good work habits and abilities.

Help employees set goals

Setting deadlines and goals helps keep employees focused, busy and motivates them to do their work. Talk to each of your employees about the company’s goals, and work with them to set individual goals directly linked to your business’s mission. Make sure employees understand their professional growth path in the company.

Recognize problems

It is impossible to know about personality conflicts, lagging productivity or other problems in the office if you have your head in the sand. If you notice a change in an employee’s work habits or attitude, try to get to the root of the problem before it starts affecting the rest of your staff.

Effective dealing of Problems

The first step in dealing with a problem employee is to identify the trouble. Many times, a simple, honest talk with an employee will dissolve issues such as occasional tardiness or minor attitude problems. Coaching requires a manager to work one-on-one with problem employees or to assign another employee to work with the employee to overcome their shortcomings. The mentor should provide the employee with feedback and solutions for improving their performance. Coaching requires patience and a substantial time investment, but it can help modify an employee’s behavior.

Poor performance

Poor performance is not always due to a lack of skills; the employee may simply be disorganized or sloppy. These habits can usually be corrected with proper guidance. If performance difficulties relate to a lack of skills, consider coaching or additional training.

Job incompatibility

In some cases an employee becomes a problem because their skills aren’t compatible with their assigned tasks or regular duties. In this case, offering the employee additional training or assigning them a different set of tasks is usually the most appropriate course of action.

Sloppy work

When you notice that, an employee has made some errors, point out the mistakes to the employee and monitors their work more closely. If the problem persists, speak with the employee and detail the most serious examples of problems with their work. Remember to remain positive and focus on how important the employee’s contribution is to the company.

Create an effective message

Consider the specific informational needs of executives, middle managers, supervisors and employees, and tailor your message to fit each audience. An effective message should also explain how your employees´ day-to-day duties directly affect the company’s performance and should touch on the values and pride of the employees. A direct, face-to-face interaction can help reinforce positive attitudes inspire employees and help them adapt to the change.

Listen to your employees

Employee feedback is critical in managing change. Holding focus groups with employ

ees is a great way to gauge reaction and monitor the progress of change. You also can encourage employees to provide feedback through email or the company intranet. Communication is the cornerstone to successful change management. Talking to your employees is not a one-time event, and you need to reinforce your message by communicating early and often.

Conclusion

To be an effective manager you must know yourself, your strengths and your weaknesses, and those of the people around you. You must know your objectives and have a plan of how to achieve them. You must build a team of people that share your commitment to achieve those objectives, and you must help each team member to achieve their best which will be able to attain a common goal.

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