Service Exports USA: A Growth Opportunity Section 2 Part 6

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CREATING YOUR EXPORT PLAN

Export Readiness: Market Factor Assessment 

Last week we looked at tariffs and at which markets to pursue.  Unless you are trading within the North American Fair Trade Agreement area (the United States, Canada and/or Mexico) or in markets linked to the U.S. by trade agreements, tariffs can become a major factor in determining your pricing.

We also began the important strategic steps of laying the foundation of the actual strategy of use entering a foreign market by summarizing possible expansion needs that may need financing. We did this by defining your Short Term and Long-Term goals. Now that those have been determined, we are now ready to develop your Marketing Plan.

The Marketing Plan helps to prepare your business to enter the international marketplace. Here we will cover the process of creating one.

Often, an industry will have a few key indicators or measures that will help determine the industry strength and demand within an international market. A manufacturer of medical equipment, for example, may use the number of hospital beds, the number of surgeries and public expenditures for health care as indicators to assess the potential for these products.

The worksheet needed here: Market Factor Assessment. This worksheet outlines ... 

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13 Businesses With Brilliant Global Marketing Strategies

Thanks to the internet, global reach is no longer reserved for deep-pocketed brands, nor is it an incredible hassle for already over-burdened marketing managers.In fact, a global presence is possible for any business with a creative strategy and an understanding of world markets. What is good global marketing?To give you an idea of what a great global marketing strategy looks like, we've compiled a list of brands that totally "get it."

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Going Global: How to Expand Your Business Internationally 

For most entrepreneurs, building and maintaining a local customer base is one of the first steps on the road to success. Once they have achieved this goal, some business owners feel they're ready to take on the next step: expanding internationally.

Becoming a global company is ...

Reduce Payment Fraud For Your Business

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Originally Published by

www.xero.com

Small businesses tend to use paper documents.

Payment fraud costs US companies billions of dollars every year. So it’s an issue every business needs to be concerned about.

Does your business pay bills using cheques? Do you send out printed invoices? You could be revealing sensitive business information to criminals

Small businesses often have fewer people and resources available for accounting tasks. Which is why many business owners record their transactions on paper. While that may sound like an easy option, there are hidden dangers with using paper documents.

Online bill payment software is fast, easy – and safe

It’s much safer and easier to use a payments solution that enables you to do all your work online. Online payment software makes it easy to pay your bills online quickly and easily from anywhere – as long as you have an internet connection. And you only have to key in data once, which means fewer errors – and no more manual double entry.

Using paper checks and invoices is risky.

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Managing The Risk of Business Fraud

All organizations are subject to fraud risks. Large frauds have led to the downfall of entire organizations, massive investment losses, significant legal costs, incarceration of key individuals, and erosion of confidence in capital markets. Publicized fraudulent behavior by key executives has negatively impacted the reputations, brands, and images of many organizations around the globe.

 Combating Paper Based Fraud

Paper-based fraud is a crime of opportunity that can be prevented through the use of anti-fraud services and by implementing tight internal controls. It is important to remember that check fraud continues to grow rapidly and a ects companies of every size and type.

Navigating the On-Demand Economy Part 2

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The On-Demand Blueprint

Part 2

This is an essential guide, published by Cloud factory, for businesses navigating today’s on-demand economy and the various models and workforces you can tap to gain a competitive advantage. You may find it interesting and helpful if you are or work with:

• Marketing Teams - That need creative and specialty services, such as logo or template creation.
• Start Ups - Looking to create or scale products and services.
• Executives - Looking for innovative service models that could give their companies an edge in a competitive market.
• Investors - Looking for a new competitive advantage for portfolio companies.
• Entrepreneurs - who seek to develop a new service or product.
• Enterprise Companies - Whose products or services include routine, repetitive back office work that can be automated and/or outsourced.

The Secret Sauce: Software + Humans

For decades, movies introduced us to fascinating technology, like fingerprint and retinal scanning or using software to analyze thousands of records in seconds to find a match to a single record. Much of this technology is available today. Computers can recognize the written word, voices, faces and more. They also can process, distribute and analyze high volumes of data with speed and accuracy.

But computers can’t do everything we see in the movies. They’re only as powerful as the software that runs them. And while the forces of artificial intelligence ...

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Navigating the On-Demand Economy Part 1

A New Breed of Small Business Is Emerging

The Emerging Impact On Business

SMALL BUSINESS OVERWHELMED

CONVENIENCE DOMINATES

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Dispatches From The New Economy: The On-Demand Economy And The Future Of Work

6 Tips For Getting Started With An On-Demand Workforce

Fortunately, making the transition to a flexible workforce isn’t as overwhelming as you might think. Whether you’ve got an aggressive timetable or are opting to take a more conservative approach, we’ve crafted a simple framework that you can follow to make sure your organization has considered every aspect of building an effective on-demand workforce.

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Kodak - The Giant That Fell

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“Imagine a time well into the future where someone might not understand what it means to “Google” something. That mental image is impossible for anyone with regular Internet access to fully realize.” jpwatchdog.com

"You press the button, we do the rest," In 1888, George Eastman coined the slogan for Kodak as they put their first camera into the hands of a world of eager consumers wanting a simple way to take pictures.

Until Kodak, the only way to have a picture taken was to hire a professional photographer. With the introduction of Kodak’s first camera, suddenly photography became a part of the family. The camera accompanied us on family outings, vacations, holidays and birthdays. Scores of pictures of living generations were snapped and placed into photo albums.

The term, “Kodak moment” was used for almost a 100 years ...

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This is the  2nd in a series on the rise and fall of giants

and the lessons that we can perhaps learn.

More Information Regarding the Rise & Fall of Kodak

Kodak: 130 years of history

1994 - Apple launched one of the first consumer digital cameras, the QuickTake. It was actually designed by Kodak and had been released months before Apple's version in Japan under its own brand name. The camera took photos at a resolution of 640 by 480 pixels.

2004 - Kodak stopped selling film cameras in the face of increasingly popular digital alternatives.

2005 - Kodak was the largest seller of digital cameras in the US, with revenue reaching $5.7bn. By 2007 it had fallen to fourth place and by 2010 to seventh.

How Success Killed Eastman Kodak

Since peaking in February 1999 at about $80 a share, Kodak shares have suffered a steady tumble that wiped out 99% of their value — to 78 cents a share as of Sept. 30.  At the end of June, Kodak’s liabilities exceeded its assets by $1.4 billion. It then owed $1.4 billion and had $957 million in cash, down $847 million from the end of 2010.

The moment it all went wrong for Kodak

"The world's biggest film company filed for bankruptcy yesterday, beaten by the digital revolution. 

The only problem is, the enemy started within"

A Shopping Revolution That Occurred In The Last Century

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Service Exports USA: A Growth Opportunity Section 2 Part 5

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CREATING YOUR EXPORT PLAN

Export Readiness: Markets to Pursue

A quick recap

• Profiled your business
• Market Expansion: Benefits/Trade-offs
• Industry analysis
• Product analysis

Last week, we took a look at the most Penetrable Foreign Markets for your product. After defining and narrowing the search to the top three the week prior, we then examined those markets in detail.  We also took an in depth look at the political risks and legalities of those markets and the Regulatory Compliance requirements.

Moving on to this week, we will take a look at tariffs and at which markets to pursue.

Tariffs are the taxes imposed on ...

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Donald Trump has floated big tariffs. What could the impact be?

Where Hillary Clinton and Donald Trump Stand on Economic Issues

Google's Impact on the Global Economy by Michael Hendrix

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The impact of Google on the American economy underscores how the Internet can boost the American economy.

Google’s latest Economic Impact report finds the company contributing $165 billion of economic activity for 1.4 million businesses and non-profits in 2015, up from $131 billion in 2014. Ads and search lead to clicks, and some clicks lead to business.

The incremental revenue gained has a not insignificant impact on job creation as well.

The Missouri Star Quilt Company, for instance, is now the largest employer in its rural county. Its 250 employees “ship thousands of packages every day to customers around the world.” As Al Doan, its founder and CEO says, “The Internet let us build a business that's changed our town and changed our family.”

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Google  Economic Impact Report

The New Digital Economy

The Importance of the Digital Economy

Navigating the On-Demand Economy

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Part 1

The Essential Guidebook for Businesses Navigating the

On-Demand Economy

The On-Demand Blueprint

The new mantra: Invest in what you need only, when you need it, and be certain solutions can scale as your business grows.

Learn how businesses are leveraging the on-demand economy as a strategic competitive advantage.

Hiring on-demand is the new way of getting work done. Participate now or you might be playing catch-up later.

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The forces of globalization and technology are changing the way the world works. Together, they have created a significant trend: on-demand work forces that help businesses scale faster and smarter while they reduce risk and control costs.

“There are an estimated 17.7 million independent workers in the United States, and the number is growing. They represent a major contribution to the U.S. economy, generating nearly $1.2 trillion in total income, a 20% increase from 2012. Experts (MBO Partners’ 2013 State of Independence in America) predict the number of independent workers to grow to 24 million in 2018”

Let’s take a look at the ecosystem of the on-demand work forces ...

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theondemandeconomy.org

Know These 3 Things to Make Money in On-demand Economy

100 On Demand EconomySide Gigs for Rideshare Drivers 

The Criteo Report Part 4 Mobile Trends

The Criteo Report Part 4 Mobile Trends

Executive Summary

Part 4

These trends and forecasts come from Criteo’s Q4 2015 State of Mobile Commerce Report, based on its unique pool of online shopping data.

Criteo’s analysis of shopping data from Q4 2015 demonstrates that mobile is an established channel for retail transactions in a world where mobile devices are at the center of the connected consumer.

As the fifth quarterly Mobile Commerce Report, this is the first report to analyze year-over-year growth in key verticals and devices as retailers shift to people-centric strategies.

To recap, in part one, we went over how that when it comes to device and transaction share with the U.S. retail market, Smartphones dominated the market in 2015. 60% of retail transactions belong to mobile compared to just 45% in 2014.

In part two of the series, we got a good look at the U.S. holiday sale period of 2015 and how mobile influenced shopping and sales.  52%, HALF OF CROSS-DEVICE MOBILE TRANSACTIONS ARE A RESULT OF MOBILE-ONLY BROWSING

After reviewing part three of the report, we have a clear understanding that apps drive more transactions and value by removing barriers to purchase.  In fact, retailers see an impressive20% higher conversion rate on their apps. And, not only do apps convert a higher percentage of customers, they also bring in more revenue per transaction.

On our final look at The Criteo Report, part four we are going to look at how mobile is affecting global trends...

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The Mobile Revolution Is The Biggest Tech Shift In Years, And Companies Are In A Race To Keep Up

Yahoo predicts next 'mobile revolution' is around the corner

Service Exports USA: A Growth Opportunity Section 2 Part 4

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CREATING YOUR EXPORT PLAN

Export Readiness: Exploring Foreign Markets

To recap: we have profiled your current business. And last week, we did an industry analysis, which helped us find key aspects of your industry that may affect your exporting decisions. We also went over how to find your sources to collect the data needed to help you determine the analysis.

This week we begin with the worksheet: Most Penetrable Markets.

Once you have defined and narrowed your search to a few prospective foreign markets for your product, you will need to examine them in detail.

List the top three markets that your research has shown to be ...

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Enforcement & Compliance

 Sanctions that prohibit trade with designated countries

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Export Risk Assessment

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Managing Your Export Risk

THE INVENTORY COUNT UPDATING PRICES Part 6

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Week FIVE Recap

Who should be doing an inventory count? It is easier to list when an inventory count is not necessary

• Completely paperless
• Absolutely have no office supplies (such as paper and ink for a printer)
• No business cards or product flyers, brochures, no products sold and then delivered to your customers
• Have no need for cleaning product or items to clean your to clean your office (Some have a cleaning company come in and clean)

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WEEK SIX - Today

In the weeks prior I went over extra information. But you will actually do 4 steps and you will get that down to on average 4 days for a business with high sales volume with a lot of inventory.

With this step it is important that you can concentrate and work without interruptions, including phone calls and in a quiet place. I recommend this because you will be working with numbers.

Other Reasons Why

• Your Profit and Loss statement is going to come from this information.
• The information to compare where your business is compared to last month, last quarter and last year.
• Help you improve your bottom line.
• Alert you to a possible theft problem
• To do projections on sales
• Can you get that equipment that you need?
• If you need to expand operations, such as another store
• Do you need to raise prices?
• Do you need to hire?

These are just a few examples

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What is inventory control?

Stock control and inventory - Info entrepreneurs

3 Inventory Management Methods for Your Online Store