Tag Archive 'Business'

Sep 02 2011

The Wisdom Of Warren Buffett—Real Life Lessons From A Real Business Guru

Published by under Business & Marketing

One of the most successful investors in the world, business magnate, third richest person in the world, “Oracle of Omaha” –is that all there is to the great legend? No! There is the great philanthropist to him as well. His wisdom not only covers the realm of business and finance, but real life—where people live and face situations and have to learn to cope with them. As you read these quotes from Buffett, you will find in an eerie way that he is speaking to you about your real life situations and offering insight and practical solutions to them! Here is just some of the financial and personal wisdom that people connect with:

“A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful….And most certainly, fear is now widespread, gripping even seasoned investors.”

While everyone was enjoying the boom of the stock market, Warren Buffett was busy strategically investing his money in Treasury Bonds and strengthening his fort, so to speak. When the long financial rainy day has set in, he can buy at great prices what foolhardy investors have had to give up! The lesson here is to not go so much by what the crowd is doing, which is a sureshot way to being just average. Instead one has to be willing to be different and willing to take farsighted and calculated risks. Don’t disguise fear and inaction as being sensible! Learn the pedals well so when you take the jump finally, you know exactly where you are going to land.

“Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.”

You might ask, if Buffett himself lost close to $23 billion in 2008 while his company, Berkshire Hathaway, lost its AAA ratings, how can he advise everyone else not to lose money? Well, he is talking about the mindset and not so much the intellect of it. He is asking people to not be impetuous, or show gallantry, or look for a quick-fix strategy. It’s all about playing your cards right, educating yourself with adequate research, studying trends, analyzing and collating all the research to understand the companies one is going to invest in. Do all the homework and stay informed. Be a sensible investor rather than a cavalier when it comes to investing!

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”

It takes just one bad decision or miscalculation to make all the uphill work go downhill and snowball into a full-blown disaster. Being successful is actually easier than maintaining it and staying at the top. Play the market wisely and invest sensibly. One crucial thing to learn from Buffett is that he does not change his long-term strategy no matter how the market pitches and rolls.

“It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.”

Again it’s about keeping the mindset right. For this, you need the right tribe, a set of proactive people around you whose energies are in tune with achievement and moving forward. A lot changes when you “hang out” with people who have accomplished great things and who are doing better than you. They inspire us into action and show us how it’s done. Unfortunately, people usually do the converse and stick to their comfort zones—which they find in surrounding themselves with peers who are at par or who have accomplished much less than themselves. However, this is a first class ticket to failure! If you want to better yourself, grow personally, as well as grow your business, you need to surround yourself with greater people than yourself, seeing whom you feel that twinge of pain of wanting to do as well as them and emulate them.

“Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.”

People often become drastically attached to their businesses and investments and simply do not know when it’s time to change. To top it all they have no contingency plan. That is plain suicide! You should diversify your investments and literally never put ‘all eggs in one basket,’ and be ready to change course when the signs are clear that your current investments or business is going down the Titanic way! Not just finances, this applies to all aspects of life! When Buffett imparts wisdom, one can learn and apply it to all aspects of life, even personal ones.

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Aug 02 2011

How Do People Perceive Your Brand?

Published by under Business & Marketing

So you’re at a tradeshow where you are promoting your business. You’re showcasing your product or service and also promoting your website. Handouts, personal introductions, samples, giveaways…the works!

What is all this communicating about your brand? What is your message to your audiences? That indelible first impression—is it going to make them come back to your business, and your brand, time and again, or are they leaving on the first flight out of ‘bore-their-brains-out’ country?!

Your business ethic and belief inevitably come across through your interactions with your clients and prospects. Your website, the pamphlets, verbal communications—all speak your mind, your psychology behind your business.

1)      The Vaguer-Than-Vegas-But-Just-As-Crazy Brand:

Now here’s a business that knows not what it wants to achieve, who to interact with, who to sell to, how to market its product or service, and gropes in the dark just about everything. Such a business is aping ideas and strategies from other businesses. It tarnishes the brand image drastically. Borrowing ideologies cannot sustain any business as people are very perceptive about such lack of direction and any sagacious buyer will drop such a business faster than a hot coal!

The remedy is to figure out everything in your mind first. What is it that matters to you? What is your objective and then translate that into your business.

2)      The Loudmouth Business:

We’ve all seen such business owners. You ask them “what do you do?” and you get an epic of a reply! You’re left wondering if they’re ever going to stop, if they really have accomplished all that they claim to…if they are for real?!

You need to focus on what is most unique and interesting about your business. Your message to your audiences has to be succinct and clear. Create the interest just enough and then stop right there!

3)      The Crazy Scientist Brand:

Trying out everything and not sustaining any effort long enough is awfully irritating to your clients and prospects. Changing your offerings, your services, your message, your website over and over again shows loud and clear that you haven’t quite found what your ideology is, or found your commitment yet!

The best way to overcome this propensity is to believe in one particular project and carry it out to its end, to its fruition. There has to be commitment in every undertaking and a willingness to brave any odds.

Such measures are a sure shot to success and will guarantee a brand image that’s going to go down in the business hall of fame!

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Jun 22 2011

First Impressions DO Count For Your Website

Published by under Business & Marketing

No, we are not talking about the adornments and embellishments on your landing pages! It’s not a Van Gogh visual marvel that your customers seek when they come to your website. That helps, but only as far as the thrill ride at Disney World might last (probably much shorter)!

Think about this—how often do you go looking for a website, saying to yourself, “I want to check out some cool sites today!” Exactly…next to never! People are looking for something else and we should explore this further.

The second mistake most websites make is with that feverish sales pitch that they scarcely manage to contain. When your visitors land on your site and are bombarded with “buy this…buy that,” they just want to plug their ears and probably bounce off your website faster than a flea off a dinosaur’s back! Stop and think…and then think again! Yes, people do like to shop and buy, but you simply cannot forget the marketing gospel, that people do not like to be sold to!

How is Amazon an online leviathan? Is it a “bells and whistles” website? Not even close! Is it shouting down a megaphone “…you gotta buy this!!! You won’t get this offer again!” Yea, like maybe on Mars! Amazon has managed to do something most others miss out on totally. It has gained and built up trust with its customers. It has thought about how the user/visitor can benefit most.

Begin with an analysis of your website through webmaster tools. You would need to see how long do people stay on your page; what keywords do they use; how many leave after viewing the landing page; and so on. The answers will tell you if and where you are going wrong.

To be able to reorient your business, and then your website, you need to get into the user’s mind. What do people look for? The answer is—‘information’ and ‘solutions.’ Giving them what THEY want is the beginning of building a bridge, beginning of a relationship. People need to feel that you don’t see them as just a credit card or a wallet. When your page gives them some kind of help or benefit, they will be more likely to stay longer on your page and to check out your products/services. Once they put their implicit faith in you, they will not only buy from you, but go a step further and recommend you to others they know. Now, that’s what we call business!

To view a large variety of promotional products for your business promotion and to enjoy low price and  discounts visit our website at www.promodirect.com

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Apr 25 2011

New +1 Button in Google Search

Published by under News,Social Media

Google\’s new +1 buttonGoogle has taken its commitment to making its searches user-friendly to another level with the introduction of a new “+1” feature that is currently in the experimental mode. Appearing in quick succession after the implementation of their “website blocking” service, this one (similar to the Facebook “like” button) is their first step in the world of social media on their search engine platform.

“Today we’re taking that a step further, enabling you to share recommendations with the world right in Google’s search results. It’s called +1—the digital shorthand for ‘this is pretty cool.’ To recommend something, all you have to do is click +1 on a webpage or ad you find useful,” says an insider from Google.

To check out this feature, you need to sign in to your Google account and sign up for their “experimental search site.” Once you do that, you will get to see the “+1” tab next to the search result. Then you can recommend a particular website to others on your Google “contacts” list by simply hitting the +1 sign. For instance, if you have +1’ed  www.promodirect.com after signing into your account, whenever anyone in your contacts is looking for promotional products on the net, Promo Direct will show “+1 like” from you and consequently will be recommend to your friends and contacts.

Google spokesman says, “The beauty of +1’s is their relevance—you get the right recommendations (because they come from people who matter to you), at the right time (when you are actually looking for information about that topic) and in the right format (your search results).”

So we want to know what this means for online businesses. Here is how it will impact them:

  • User power and website ranking: With the +1 feature and easy means to block the website, Google has given power over the fate of online businesses to its users. If your website is not preferred by users, you run the risk of getting blocked or not getting a much-coveted +1 preference, thereby affecting traffic and sales.
  • +1, a part of Google Algorithm: Google plans to make +1 feature a part of their algorithm. They believe that if the users like a particular website, it gives them a good reason to rank it higher than others. So one more thing to keep you on your toes while worrying about where you rank in Google searches.

Google’s +1 feature promises to create a great user experience for its loyalists, though websites and businesses might have another take on it! Let’s wait and watch…

To view a large variety of promotional products for your business promotion and to enjoy low price and discounts visit our website at www.promodirect.com

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Oct 22 2010

Ten Commandments of writing a business bio on social networks

I: Make thy bio site-specificDifferent social networks have different space provisions and making a standard bio may not work. For example in LinkedIn you get all the space you want but sites like Twitter give you a meager 160 characters to describe yourself in entirety. The smart way to deal with this would be to create site-specific bios. Write a concise introduction about yourself for sites that don’t permit you to say more and a more detailed one for others that want you to say more.II: Show thy face

Even though it’s a business bio, it is necessary to establish a personal connection. A profile picture helps you do that and it shows the user two things; a) you are what you claim to be b) you take this social media business seriously. (A picture-less profile, photos of cartoons, celebrities, objects instead of actual photos etc are seen as frivolous, especially in a business bio.)

III: Introduce thyself

Use your full name instead of abbreviations or nick names while creating a profile on your social network. You may be making ‘friends’ on Facebook or ‘followers’ on Twitter but remember that you are creating a business bio to make official contacts, even though it is on a casual platform.

IV: Thou shan’t bore

Your business bio should only be a window to your world with concise information which will entice other members on the social network to follow you or add you on. Excess information about every teeny-tiny aspect of your life, may bore members and drive them away instead of leading them to you.

V: Thou shan’t brag

Please remember that it is a business bio that will reflect your personality. Give information that will portray you as successful yet modest. Writing about your love for cars in the ‘interests’ section is fine, but adding that you have three cars and are in the process of buying a latest model may give you the ‘he is so pompous’ tag.

VI: Thou shalt be casual

There are no hard and fast rules in social networking but writing in a casual style usually works. Incorporate a touch of friendly humor (nothing offensive, mind you), write in a conversational style and your profile will portray you as a genial person who will make an interesting addition to a friends/followers list.

VII: Thou shalt converse

Describe those aspects of yourself that are likely to stimulate conversation. For example, even though you are the CEO of a company, you obviously will have your favorite activities outside work. List your favorite movies, cuisine, favorite television shows, etc. Shared interests can eventually lead to networking. Give the link to your blog and encourage them to comment on your posts.

VIII: Keywords are thy key to quick visibility

Writing a bio for a social network is tricky because a user will reach your page, either because he knows your profile name or maybe because the website has recommended your profile to him on the basis of certain parameters. However, if neither of the above is possible then you stand to lose out. Including relevant keywords will draw traffic to your blog once your target searches for them.

IX: Thou shalt compare

Other profiles can be a great source of insight about what does and doesn’t work in an online bio. Keep a tab on your competitor’s bios on social networking sites and evaluate yourself. The day your followers, friends or profile visits exceed his, you know you have hit the jackpot.

X: Thou shalt complete thy profile

An incomplete profile is very irritating to users who want to know you better. Ensure all the basic information fields are filled and you can keep updating specific data gradually. Give e-mail ids or other contact details for your target to contact you, if he wishes to. A user is likely to add you to his friends list or follow you once he is convinced about you and your motives. A complete profile facilitates that.

Incorporate these commandments into your business ideas or marketing strategies and become the richest profile with maximum ‘likes’, ‘followers’, ‘recommendations’ and so on.

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