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Digg it UP - Increase Profits With a Small Investment of Time and No Money
Product life-cycles are shortening, with new products hitting the market faster and faster. At the same time, consumers are spending more time on the Internet looking for products and services, and seeking out suppliers who can deliver them with maximum value at a competitive price. This is a tough, challenging situation that should scare complacent businesses. But it offers exciting opportunities for smart business people who recognize the need to understand the external business environment and have the internal processes to enable them to quickly turn changes in the market into new p
Some credit card companies, like American Express, offers a small savings or a percent cash back reward to their customers for using vendors in their network. While saving 2 – 5 percent with credit cards is good, a 10 – 50 percent savings with buying groups is much better. Buying group members will only be contacted by the alliance vendors they select. As the buying groups get more established more vendors are inte
Yes indeed! If you are a young person who has decided that a career in public relations will be your Caviar and Champagne in life, here are four situations in which you do not want to find yourself:1. You confuse the basic function of public relations with sub-parts that make up the whole like publicity, crisis management or employee communications.2. You feel unsure in approaching public relations problems, then uncertain about what counsel to give your employer/client.3. As the years pass, you rely on career-long misconceptions about public relations but forge
The concept of many small to mid-size businesses joining together to form buying groups has been around for a very long time. The implementation of the concept has only been available for a few years. Just about all of the national buying groups that have started operations in the past five years are no longer in business. I will tell you why many of these buying groups were not successful later in the article. Some of the few surviving buying groups have formed an alliance that offers their members access to greatly discounted pricing with a total of 37 national vendors. The Hospitality Buying Group was the first national buying group to offer a FREE lifetime membership to any business in any industry. This group recently started the Hospitality Buying Group Alliance which offers free lifetime memberships to all the national buying groups in the alliance. The only investment the business members make is the time to compare the prices of the alliance vendors against what they are currently paying.
By now you are thinking that all of this sounds too good to be true. If the Hospitality Buying Group Alliance gives away lifetime memberships then how do they make any money? If the members are not a revenue stream then the only other revenue source must be the vendors. The vendors pay the buying groups commissions on all purchases made by their members. There is no risk for the vendors because they only pay the commission after they have been paid by the buying group members. The commissions are very low so the maximum discounts can be offered to the business members.
Some credit card companies, like American Express, offers a small savings or a percent cash back reward to their customers for using vendors in their network. While saving 2 – 5 percent with credit cards is good, a 10 – 50 percent savings with buying groups is much better. Buying group members will only be contacted by the alliance vendors they select. As the buying groups get more established more vendors are inter
Registered nurses offer professional and qualified nursing service for families, individuals, communities, and groups. They provide health-education programs to promote, maintain, and restore patient health. Registered nurse salaries vary according to the type of nursing, years of experience, and geographic location. It is generally dependent on the schedule, requirements, work load, experience, and training of the individual. Educational qualifications and responsibilities are other factors that affect registered nurse salaries.Over the past few years, registered nurse salaries ha
By now you are thinking that all of this sounds too good to be true. If the Hospitality Buying Group Alliance gives away lifetime memberships then how do they make any money? If the members are not a revenue stream then the only other revenue source must be the vendors. The vendors pay the buying groups commissions on all purchases made by their members. There is no risk for the vendors because they only pay the commission after they have been paid by the buying group members. The commissions are very low so the maximum discounts can be offered to the business members.
Some credit card companies, like American Express, offers a small savings or a percent cash back reward to their customers for using vendors in their network. While saving 2 – 5 percent with credit cards is good, a 10 – 50 percent savings with buying groups is much better. Buying group members will only be contacted by the alliance vendors they select. As the buying groups get more established more vendors are inte
Hiring happy, optimistic job applicants can increase your company’s productivity and lower turnover. Plus, optimistic, confident employees are vastly more delightful to have on-board.Methods to help companies have optimistic, positive employees include pre-employment tests, job interviews of applicants, managing being role-models, and reinforcing smiles.What are happy, optimistic employees? In a book I co-authored – “Spontaneous Optimism®” -- we explained optimistic people focus on solutions and not on problems, have a “can-do” mindset, and do what is needed to achieve goa
By now you are thinking that all of this sounds too good to be true. If the Hospitality Buying Group Alliance gives away lifetime memberships then how do they make any money? If the members are not a revenue stream then the only other revenue source must be the vendors. The vendors pay the buying groups commissions on all purchases made by their members. There is no risk for the vendors because they only pay the commission after they have been paid by the buying group members. The commissions are very low so the maximum discounts can be offered to the business members.
Some credit card companies, like American Express, offers a small savings or a percent cash back reward to their customers for using vendors in their network. While saving 2 – 5 percent with credit cards is good, a 10 – 50 percent savings with buying groups is much better. Buying group members will only be contacted by the alliance vendors they select. As the buying groups get more established more vendors are inte
Some people work at their jobs because they have to make a living, and they get to express themselves after work. Some people have careers that they love, and have a hard time not taking home their work with them when they go home. And then there are successful people in the diversity field. They have a passion for diversity and they live their work. Whether or not they take their work home with them, their work is always driven by the values they live every day, and their lives are driven by the values they promote at work.When organizations began to embrace diversity in the 1980s
Some credit card companies, like American Express, offers a small savings or a percent cash back reward to their customers for using vendors in their network. While saving 2 – 5 percent with credit cards is good, a 10 – 50 percent savings with buying groups is much better. Buying group members will only be contacted by the alliance vendors they select. As the buying groups get more established more vendors are inte
So you've made a sale. Great!Now what? You're not just going to sell your new customer a product and let them walk away, are you?Not when you're marketing on tight budget! You now have to use the customer in front of you to build your business, and you do that with a successful referral program.Referrals work. Word of mouth advertising is still the most powerful form of advertising available, and it's getting ever MORE powerful in 2004. The largest companies in this country have cut their advertising budgets over the last 10 years and directed that money towards gener
Some credit card companies, like American Express, offers a small savings or a percent cash back reward to their customers for using vendors in their network. While saving 2 – 5 percent with credit cards is good, a 10 – 50 percent savings with buying groups is much better. Buying group members will only be contacted by the alliance vendors they select. As the buying groups get more established more vendors are interested in offering their services to group members.
If the concept of the buying group is so good then why do most buying groups fail? Most of the failed buying groups spent a few hundred thousand to over a million dollars just to get the buying group started. To make matters worse they have large operational expenses. This is going on at the beginning of the buying group’s existence while the group has few vendors to offer potential members. To keep the group functioning they need to charge members $500.00 - $10,000.00 annually to join the group. With few vendors the members can only expect to save a few thousand dollars annually. Many small business owners are not willing to take the risk of purchasing a membership in a buying group that may not generate significant savings. This results in few buying group memberships sold. The buying group can’t pay their operational expenses resulting in reducing the sales force. This results in decreased revenues and finally the buying group ceases to exist.
The successful national buying groups that make up the Hospitality Buying Group Alliance were all started with an initial investment of just a few thousand dollars and thousands of labor hours by just one or two individuals. Their operational expenses in the beginning were just a few hundred dollars a month plus lots of labor hours by the owners. As the buying groups grew the revenues were reinvested back into the buying group. The use of technology reduces the operational cost of the buying group. This approach results in a successful buying group with a positive cash flow. This information should put potential members at ease because they know the buying group will be around for a long time.
This is a very special time in the history of buying groups because this is the first time an alliance of buying groups has ever been formed. With the free lifetime membership, total freedom to select one or many alliance vendors and a growing alliance of buying groups makes this
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