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Hub You - What Is Business Sense?
As a small business operator, personal checks may be one method to receive payment for your goods or services. As a way to receive payment, a personal check is actually better than credit cards because the fees are less and there can be no charge back.Fortunately, most people are honest and studious in taking care of their checking account. But sooner or later every small business operator will receive a bad check. The first thing to do is politely contact the individual and give them an opportunity to make the check good.Most times you'll find that the customer has simply been careless with their checking account or finances. They will probably be embarrassed about the incident and will immediately replace the check with a good one. Unfortunately, there are rare occasions when the individual who gave you the bad check decides to make themselves scarce.Note: If a personal check is for more than a few dollars, it's best to let the check clear before delivering the product or service. Say, for example, that someone wants to buy your car with a personal check for twice what the car's wo
What about Guinness Nigeria Plc. Its premium brand Guinness stout says: Guinness brings out the action in you. But what the brewery has failed to do is to explain how the consumption of Guinness will galvanize consumers into action.
Take this from Oceanic International Bank. Its lighted billboards in Lagos metropolis sends the corporate message in two words: Experience peace. Good promo. But in these days of consolidation, banking distress and all, Oceanic Bank will definitely make more impact if it sends out detailed promotional messages on how a relationship with the bank guarantees peace. That is the latest trend in corporate communications, a shift from promotional hypes to information loaded promotions which communication experts call infomercials.
Business sense means that corporate bodies, the professional and man
Architecture is (normally) about buildings, cities and infrastructure (and the like). You can see it around you and everybody has an opinion about it. You either like the style of that building or you don’t and all the nuances in between.Business is less visible but also there – everybody has an opinion about it. You should make more profits, cut your costs, build an infrastructure and construct an organization that formalizes the (human) interaction, etc, etc.If we do all that, why bother about calling it business architecture? Well you shouldn’t but some concepts will help you with issues that most managers are dealing with: Coherence. How do we make sure that what we invent on one end will fit with a solution at the other end. Balance. How do we know whether we are using all our talents and not only a small part of them. Overview. What the hell are we doing anyhow. Our business have become so complex that I’m wondering if all elements point in the same direction to meet that goal.So architecture can help us. The nice thing about architectur
Take this from the book of Proverbs. Wisdom is the principal thing. Therefore get wisdom. And in your getting, get understanding. Riches and honor are with me. Enduring riches and righteousness. Translate this into your business, you get what I call Business Sense. As we progress into year 2005, it is necessary we refresh our minds on what this sense is all about. That is the mission of this article.
So what is Business Sense? How you do your business. Not really. Strategies for doing business. Well you may be correct, but not quite. Doing business with the sixth sense. No you are off the mark for though Business Sense has something to do with feelings, it has more to do with wisdom.
But what exactly is Business Sense? It is the application of wisdom for today's business, or simply put, common sense in business. It is more than knowledge, facts, and figures. It is copious use of ideas especially those that are so simple, ordinary, or basic that they are disregarded. It is insight, the ability to interpret developments and the business environment differently, and to see, discern, and use differently and profitably, what others see but ignore because they look so ordinary or appear foolish. If you put your attention on those simple issues and things about they way you work and live, and use them for business, you are operating with business sense.
Business sense. Two words, So profound, readily available, so simple to learn and apply, yet largely ignored. You can call it common sense. Though it readily abounds, it is not so common in acquisition and application among the professional and managerial class who rule the corporate world.
They have studied in the best schools locally and abroad, acquired the latest technology and skills, and apply the best management methods, but are still struggling with the challenges in the marketplace. It is as if the more degrees, diplomas, and certificates our professionals acquire, the less they make use of common sense in business.
Not so for traders at the Alaba International market in Lagos. What they lack in formal education they make up with a copious supply of business sense. Little wonder, virtually all the banks flock to wherever these traders cluster to set up branches.
No economic sector or concentration of businessmen/women or professionals who exchange value have been able to attract such corporate attention from the financial services sector in Nigeria. These traders thrive while many other sectors are complaining. Do not blame the banks for chasing the traders. They badly need the cash which these traders generate daily. That is why they gravitate towards the traders. No other group maintains such a gravitational pull on a sector as formidable as the banks.
A teenage boy who moves into this market to learn the trade begins from the fundamentals- book keeping, retailing, pricing, and delivery of goods. Within four years, he has polished his negotiation skills and with the dexterity he has acquired, he can sell coal to a tourist form Newcastle in the UK. He is well equipped to deal confidently with consumers who are becoming very articulate and demanding. The hard times has made them to be very price sensitive and value conscious in their purchases. Patriotic messages may not move them anymore to vote for your brands with the dwindling value of their money. Neither will promotional hypes do that anymore.
What business sense tells you is that consumers want more promotional information to guide them in their purchases. Two decades ago, a nursing mother in Nigeria would hardly glance at the nutrition facts on a tin of baby milk. Today, before she buys, she picks up tins of SMA and other brands of baby foods to determine the one that offers the best value for her money. Now you can understand why Nestle Nigeria Plc mounted a promotional campaign to teach consumers Nutrition Facts. That beverage and baby foods maker has caught the vision of business sense.
What about Guinness Nigeria Plc. Its premium brand Guinness stout says: Guinness brings out the action in you. But what the brewery has failed to do is to explain how the consumption of Guinness will galvanize consumers into action.
Take this from Oceanic International Bank. Its lighted billboards in Lagos metropolis sends the corporate message in two words: Experience peace. Good promo. But in these days of consolidation, banking distress and all, Oceanic Bank will definitely make more impact if it sends out detailed promotional messages on how a relationship with the bank guarantees peace. That is the latest trend in corporate communications, a shift from promotional hypes to information loaded promotions which communication experts call infomercials.
Business sense means that corporate bodies, the professional and mana
Flyers are highly regarded as one of the most handed out promotional tools. This print material is effectively used to deliver persuasive informative messages about companies’ products and services. Its production can be done using different printing processes and application. The printing production works to develop and print striking and sophisticated flyer prints.Each developmental process involved makes an application of good graphic designs and informative text content that will make clients aware of the good products and excellent services provided. However going for a flyer printing jobs might be quite expensive if you purchase minimal pieces of flyer prints. Sequentially to lessen the printing cost and attain high quality prints you can go for a reliable flyer printing service.Flyer printing is an effective printing process that entails to provide compelling flyer prints ideal for your marketing campaign and promotions. Going for flyer printing jobs can give in numerous advantages that will help you economically lessen your printing budget and achieve total satisfaction.The f
But what exactly is Business Sense? It is the application of wisdom for today's business, or simply put, common sense in business. It is more than knowledge, facts, and figures. It is copious use of ideas especially those that are so simple, ordinary, or basic that they are disregarded. It is insight, the ability to interpret developments and the business environment differently, and to see, discern, and use differently and profitably, what others see but ignore because they look so ordinary or appear foolish. If you put your attention on those simple issues and things about they way you work and live, and use them for business, you are operating with business sense.
Business sense. Two words, So profound, readily available, so simple to learn and apply, yet largely ignored. You can call it common sense. Though it readily abounds, it is not so common in acquisition and application among the professional and managerial class who rule the corporate world.
They have studied in the best schools locally and abroad, acquired the latest technology and skills, and apply the best management methods, but are still struggling with the challenges in the marketplace. It is as if the more degrees, diplomas, and certificates our professionals acquire, the less they make use of common sense in business.
Not so for traders at the Alaba International market in Lagos. What they lack in formal education they make up with a copious supply of business sense. Little wonder, virtually all the banks flock to wherever these traders cluster to set up branches.
No economic sector or concentration of businessmen/women or professionals who exchange value have been able to attract such corporate attention from the financial services sector in Nigeria. These traders thrive while many other sectors are complaining. Do not blame the banks for chasing the traders. They badly need the cash which these traders generate daily. That is why they gravitate towards the traders. No other group maintains such a gravitational pull on a sector as formidable as the banks.
A teenage boy who moves into this market to learn the trade begins from the fundamentals- book keeping, retailing, pricing, and delivery of goods. Within four years, he has polished his negotiation skills and with the dexterity he has acquired, he can sell coal to a tourist form Newcastle in the UK. He is well equipped to deal confidently with consumers who are becoming very articulate and demanding. The hard times has made them to be very price sensitive and value conscious in their purchases. Patriotic messages may not move them anymore to vote for your brands with the dwindling value of their money. Neither will promotional hypes do that anymore.
What business sense tells you is that consumers want more promotional information to guide them in their purchases. Two decades ago, a nursing mother in Nigeria would hardly glance at the nutrition facts on a tin of baby milk. Today, before she buys, she picks up tins of SMA and other brands of baby foods to determine the one that offers the best value for her money. Now you can understand why Nestle Nigeria Plc mounted a promotional campaign to teach consumers Nutrition Facts. That beverage and baby foods maker has caught the vision of business sense.
What about Guinness Nigeria Plc. Its premium brand Guinness stout says: Guinness brings out the action in you. But what the brewery has failed to do is to explain how the consumption of Guinness will galvanize consumers into action.
Take this from Oceanic International Bank. Its lighted billboards in Lagos metropolis sends the corporate message in two words: Experience peace. Good promo. But in these days of consolidation, banking distress and all, Oceanic Bank will definitely make more impact if it sends out detailed promotional messages on how a relationship with the bank guarantees peace. That is the latest trend in corporate communications, a shift from promotional hypes to information loaded promotions which communication experts call infomercials.
Business sense means that corporate bodies, the professional and man
Small and medium sized businesses throughout the UK are risking not being compliant with the new fire prevention laws that came into effect on 1st October 2006.Virtually all non-domestic premises in England and Wales are affected by the Regulatory Reform (Fire Safety) Order (RRO) 2005. The RRO states that anyone responsible for premises must carry out a fire safety risk assessment or face possible prosecution.A survey carried out by the Federation of Small Businesses in March highlighted the potential problems. A spokesman for the FSB commented, “We carried out a survey in March 2006 which showed 59% of firms in England and Wales were unaware of the new requirements”.So what can businesses do to make sure they are compliant?1. New fire safety guidance has been published by the department for communities and local government and can be downloaded from it's website at www.firesafetylaw.communities.gov.uk2. If you are still not sure if or how the new laws affect you contact your local fire safety of
They have studied in the best schools locally and abroad, acquired the latest technology and skills, and apply the best management methods, but are still struggling with the challenges in the marketplace. It is as if the more degrees, diplomas, and certificates our professionals acquire, the less they make use of common sense in business.
Not so for traders at the Alaba International market in Lagos. What they lack in formal education they make up with a copious supply of business sense. Little wonder, virtually all the banks flock to wherever these traders cluster to set up branches.
No economic sector or concentration of businessmen/women or professionals who exchange value have been able to attract such corporate attention from the financial services sector in Nigeria. These traders thrive while many other sectors are complaining. Do not blame the banks for chasing the traders. They badly need the cash which these traders generate daily. That is why they gravitate towards the traders. No other group maintains such a gravitational pull on a sector as formidable as the banks.
A teenage boy who moves into this market to learn the trade begins from the fundamentals- book keeping, retailing, pricing, and delivery of goods. Within four years, he has polished his negotiation skills and with the dexterity he has acquired, he can sell coal to a tourist form Newcastle in the UK. He is well equipped to deal confidently with consumers who are becoming very articulate and demanding. The hard times has made them to be very price sensitive and value conscious in their purchases. Patriotic messages may not move them anymore to vote for your brands with the dwindling value of their money. Neither will promotional hypes do that anymore.
What business sense tells you is that consumers want more promotional information to guide them in their purchases. Two decades ago, a nursing mother in Nigeria would hardly glance at the nutrition facts on a tin of baby milk. Today, before she buys, she picks up tins of SMA and other brands of baby foods to determine the one that offers the best value for her money. Now you can understand why Nestle Nigeria Plc mounted a promotional campaign to teach consumers Nutrition Facts. That beverage and baby foods maker has caught the vision of business sense.
What about Guinness Nigeria Plc. Its premium brand Guinness stout says: Guinness brings out the action in you. But what the brewery has failed to do is to explain how the consumption of Guinness will galvanize consumers into action.
Take this from Oceanic International Bank. Its lighted billboards in Lagos metropolis sends the corporate message in two words: Experience peace. Good promo. But in these days of consolidation, banking distress and all, Oceanic Bank will definitely make more impact if it sends out detailed promotional messages on how a relationship with the bank guarantees peace. That is the latest trend in corporate communications, a shift from promotional hypes to information loaded promotions which communication experts call infomercials.
Business sense means that corporate bodies, the professional and man
Do you need to start or grow your business but have little money? Before you look to banks and similar sources of financing, why not bootstrap your way to business success?A bootstrap is a small loop of leather or other material that is found on the top rear or sides of a boot. The purpose of the bootstrap is to help you pull your boot on.In business, bootstrapping has come to mean helping oneself without seeking outside help. It means using your own resources to finance, promote, and develop your business.Here, then, are some ways of financing your own business by using your own initiative and depending less on outside bank financing.1. Operate a Home-Based BusinessOperating your business from home could save you a fortune. First of all, you eliminate the costs of expensive commercial rent, commuting, et cetera.As well, your business use of home expenses would be deductible for income tax purposes. Since your home is your base of operations, your travel and automotive expenses from your home to clients would be deductible.ravitational pull on a sector as formidable as the banks.
A teenage boy who moves into this market to learn the trade begins from the fundamentals- book keeping, retailing, pricing, and delivery of goods. Within four years, he has polished his negotiation skills and with the dexterity he has acquired, he can sell coal to a tourist form Newcastle in the UK. He is well equipped to deal confidently with consumers who are becoming very articulate and demanding. The hard times has made them to be very price sensitive and value conscious in their purchases. Patriotic messages may not move them anymore to vote for your brands with the dwindling value of their money. Neither will promotional hypes do that anymore.
What business sense tells you is that consumers want more promotional information to guide them in their purchases. Two decades ago, a nursing mother in Nigeria would hardly glance at the nutrition facts on a tin of baby milk. Today, before she buys, she picks up tins of SMA and other brands of baby foods to determine the one that offers the best value for her money. Now you can understand why Nestle Nigeria Plc mounted a promotional campaign to teach consumers Nutrition Facts. That beverage and baby foods maker has caught the vision of business sense.
What about Guinness Nigeria Plc. Its premium brand Guinness stout says: Guinness brings out the action in you. But what the brewery has failed to do is to explain how the consumption of Guinness will galvanize consumers into action.
Take this from Oceanic International Bank. Its lighted billboards in Lagos metropolis sends the corporate message in two words: Experience peace. Good promo. But in these days of consolidation, banking distress and all, Oceanic Bank will definitely make more impact if it sends out detailed promotional messages on how a relationship with the bank guarantees peace. That is the latest trend in corporate communications, a shift from promotional hypes to information loaded promotions which communication experts call infomercials.
Business sense means that corporate bodies, the professional and man
An irate and unhappy customer can be a headache for the employee dealing with them, but, if you use the correct tact, it can become a win-win situation. A few rules of conduct and you should both walk away happy.First, always remain calm. Don’t jump to the defensive. If you are relaxed, it will help your customer better keep their composure. Don’t argue with the customer and don’t place blame on them. This will only lead to a vicious circle of words and accomplish nothing. Be professional.Show the customer respect. Listen to their words, not their tone. Their words will tell you what the problem is. Don’t interrupt them. Let them say everything they have to say. Show empathy for their problem. If they feel they have someone who cares about the situation, they are more likely to work with you.Once the customer has aired their complaint, repeat the actual problem so that you both know that you understand. Now you are prepared to work out the problem together. Including the customer in problem solving gives them a sense of having some control over the situation. Listen to their ideas a
What about Guinness Nigeria Plc. Its premium brand Guinness stout says: Guinness brings out the action in you. But what the brewery has failed to do is to explain how the consumption of Guinness will galvanize consumers into action.
Take this from Oceanic International Bank. Its lighted billboards in Lagos metropolis sends the corporate message in two words: Experience peace. Good promo. But in these days of consolidation, banking distress and all, Oceanic Bank will definitely make more impact if it sends out detailed promotional messages on how a relationship with the bank guarantees peace. That is the latest trend in corporate communications, a shift from promotional hypes to information loaded promotions which communication experts call infomercials.
Business sense means that corporate bodies, the professional and managerial class must bend down from their ivory towers; go back to the fundamentals of doing business which we so often ignore, and get connected to the consumer. These fundamentals or common sense are readily available but hardly appreciated or used. Business sense teaches vision, mission, ethics, corporate care, charity, courage, humility and defining your business properly.
Business sense is not taught in the real sense in academic institutions and managerial courses. The approach in these places is more academic that real.. This sense is acquired more through real life experiences, insightful observation, and learning the hard way in the School of Wilderness Experience. That is the essence of this article series, to complement the teachings of these unique business schools, and prompt professionals to use common sense and what almighty God has deposited in them.
Dan Thomas, founder and president of Focus, a management consulting firm in Polo Alto, California, USA, wrote a book titled Business Sense. In the book, he shows how managers can use core management processes he calls Five Freedoms, to achieve success. As Dan s book moves through the offices of corporate America, see how Ken Blanchard, co-author of One Minute Manager, described the book: The biggest problem in business today is that common sense is seldom common practice. This book is all about using common sense in business. If you have any sense, you will read it and share it with others. No need commenting on the common sense remark of Ken. The message is clear.
For you to acquire and apply business sense in your business, you need to humble yourself, have a large heart, be of lowly spirit, keep an eye on business fundamentals, and above all be close to your creator. That put's you in the right frame of mind to recognize and apply common sense. If you are fixated on your academic achievements, total quality management, best practices and all, you will not apply common sense. No one is jettisoning these management methods. They are very necessary. But you need to lubricate their application with common sense. That is what brings lasting results.
You may be agonizing how to deal with that management, production, or marketing problem not knowing that the solution is one common sense application which you have not considered.
As I sign off today, take this classic example of a common sense solution to a big problem from the scriptures which most of you know more than me. The story of David vs Goliath. This giant had instilled morbid fear into the entire army of Israel. The solution for Goliath was readily available, yet no Israeli soldier or General saw it. Even if they did, they must have written it off as some managers in the corporate world are doing now as they confront the many Goliaths in the marketplace today.
The Israeli soldiers who lacked faith in God put all their trust in their spears and other armoury which paled into significance against Goliath's. It took the courage and common sense of a teenage boy, David who trusted almighty God. He dipped his hands into the brook there, picked five smooth stones for his sling and ran towards Goliath. You know the rest of the rest of the story. That was a simple solution for a big problem.
The common sense approach is even more real for today's marketplace. Dear professional, this is my call to you today: begin to apply wisdom in your business today. In subsequent articles, I will share my thoughts and the insights of other professionals like you on common sense in business. Apply them and it shall be well with you.
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