Globe your Business

Globe Your Business!

and the world is yours…

In America today, our society flirts with a population of 300 million. There are over 150 nations represented in that 300 million. Whether by means of divorce or the exercise of choice, women are rapidly entering and advancing in the workplace. Senior citizens account for approximately 25 percent of the population, many of whom continue to work and be active and productive. Teenagers and young adults account for over 25 percent of our population and are continuing their education and enhancing their work skills. The Eurodollar has become a prominent form of currency. All throughout European countries, English is rapidly becoming the language of choice. The Internet is growing at exponential rates and proportions as it enters new homes and schools all across the world each day. Major Banks and corporations continue to merge as they not only strive to survive but do so by striving to grow. Barriers of gender, race and religion are being superseded by the desire and necessity to do business as we strive for social and economic change. The world is at an impasse of opportunity that must not be passed.

Everything I just highlighted in the previous paragraph is a good thing. In America, we are the land of opportunity. We are the home of the free; free enterprise and free trade. We want others to participate in our process of business and explore the opportunity to form, build and grow. The module of Capitalism is ours and one we should never forget nor forsake. It is indeed a positive that our population continues to grow. It’s a positive that women are more prevalent in the workplace as their voice and decisions are crucial to a well-balanced and productive society. In America, we celebrate our senior citizens living longer and healthier with the ability to remain productive. In America, we encourage our teenagers and young adults to continue their education and enhance their work skills. The Eurodollar initially designed to compete with the American Dollar has only reminded us that we can never rest on our rewards of the past. We must continue to be innovative and creative as we compete in an ever-growing marketplace. In America, we welcome competition as it makes us better. Many banks and major corporations have received fruitful revenues as a result of merging, thus providing better products and services to the general population. In America, we want our consumers to have viable choices that enable them to make intelligent and informed decisions. The integrations of race, gender and religions has been an extraordinary positive and productive mechanism as we not only build companies; we build communities. In America, we welcome diversity as we pool the intellectual and cultural resources that proudly present themselves to us. This is the world that we fought for, united. This is the world we fight for, united. This is the world with unity; we will not only keep but grow. The world of free enterprise is our world, in America!

It’s always improper to encourage others to do something without offering proper encouragement. In tune with that, I offer you sample and generic suggestions to “globe your business.”

1. Expansion: In this global economy if you’re not seeking expansion; it’s not because you shouldn’t be. Every two to three year cycle should not only elicit an overall evaluation; it should be a question of growth. Such a question will accompany issues of how, when and where. If your business is doing well then you must explore the option of “reproducing” what is already working. That is to say, open another location. Every 30 to 90 days you should have explored other locations including various cities, states and potentially other countries. Every city is a potential market and every market is an opportunity for growth and expansion. For every city you’re not exploring, assume that your competition is. If not you, have an employee or multiples take some time each month to investigate potential locations and markets. Research of information is the best commodity in the business of competition. You must not only keep up but you must stay ahead. As time is always of the essence and even more so in the world of business, you and your current employees may be consumed with duties and obligations. I suggest you begin an intern program with high school or college students. In many cases, they will work for free as they seek the chance to learn from those who are already doing what they desire to do in the future. You’ll create an opportunity to educate a young person, provide them work experience and learn about markets and trends you may not otherwise have explored. This is being innovative and productive. Meanwhile, you’ll also be advertising your program for free, as schools and students will compete for the opportunity. This advertisement won’t be limited to just the Internships but expose your company to the community and the extensions thereof. Many senior citizens are desperate to exercise their minds and be desired as well as productive in their golden years. I recommend not eliminating them from this equation; however I would advise offering them some compensation package. No matter who you bring in or how often, the idea here is to continually be aggressive and still maintain your current margins while elevating your social status and learning about new frontiers.

The person(s) you bring will provide you with different perspectives as they are not jaded by virtue of experience in the industry. Their eyes will reveal the eyes of the consumers at-large. Take advantage of it!

2. Employees: Over the past 10 to 15 years, employers have steadily increased worker productivity through bonuses, incentive packages and commissions. I’ve always believed that the world should be on commission but that is just a fantasy of mine. The reality is that administrative duties demand salaried positions. However I believe that even in those positions, employees would like and appreciate the opportunity to bring something more to the company they work for and in turn be compensated. If you have no commission structure or bonus plans in your company, I strongly advise you to construct one and soon. If need be, create a “new” position and design it as one of commission only. This will give you an opportunity to see what type of applicants you attract and how well a commission structure can function. Everyone in your company should be rewarded for generating new business and provided an incentive for retaining valuable clients. That’s what you want! Thereto, this is another opportunity to diversify your company whether it is by gender, race or national origins. With each new and different face, you’ll receive new and exciting perceptions and ideas. No one knows everything about any one thing, let alone everything about everything. You should never rule anyone out because they appear different than what’s previously been successful for you and your company. With that, your employees will begin to learn from one another because of such diversity, enabling them to be better equipped as they venture into our unique and multicultural marketplace. These types of social skills can rarely be achieved through observation and must be cultivated through interaction on a daily basis. As you diversify your company’s employee base; you now have a new opportunity to continually educate and motivate your audience. You want your employees to want to come to work. You want your employees to bring positive energy and excitement as they walk in the door. This type of energy and excitement must be initiated from the top and that’s you. As they see you as enlightened leader, so too will they seek enlightenment and progress a willingness to learn. In your company meetings, be receptive to the suggestions of your employees and encourage them to speak out and speak up. In 1945 as World War II was nearing an end, then President Harry S. Truman was faced with an imminent dilemma. The American economy was fragile and thousands of troops would be returning home without a job to turn towards. At this time, the President created tax benefits to encourage those present to start a new company or expand the ones they currently owned. Those benefits remain in tact and since have grown without government restraints. Small businesses account for over 52% of all employees in America. This is what you must remember to do, be innovative and creative and remember to create jobs and opportunities for our fellow citizens. In America, that’s who we are.

3. Marketing: No matter what any or all surveys may reveal; the greatest marketing tool of every company is you and your employees. The best commercials, billboards or paid advertisements will mean nothing if your employees don’t embrace and embody the promotion. As you bring in employees and with a commission structure in place; your company is always on stage. The public you’ve yet to see, the clients you’ve yet to secure and the extensions of consumers you’ve had are always watching and observing. It’s not just enough that they abide by the employee handbook rules; they must be an embodiment of your overall company concept. As they enter into new towns, frequent their grocery stores attended their weekly services and participate in school events; your employees are directly representing you. A common and accepted question amongst Americans is “Where do you work?” As you seek employees with character, you must too remember to build character; this is leadership. While you can’t navigate their behavior nor should you want to; you still must involve these issues in group meetings and potentially invoke a character clause in their employee contract. A commission structure and bonus incentives will be reason enough to keep this dialog alive and robust. As you guide them through potential situations, you want them to bring up scenarios and potential clients that have an interest in your company. You must create a “spirit” of marketing in your company and its employees. Furthermore, as you do research in other towns seeking potential locations and opportunities; you will also be “in effect”, marketing who you are and what you do. This is called “generating a buzz”. Allow the idea of generating a buzz to keep you on edge, as your employees’ minds will always be working. Make your company, their company. As you market your company and its products, don’t be afraid to exhibit your employees along with it. Your employees are well-groomed and articulate. Put their picture in the promotion, include their voice and enable them to host shows, volunteer work and promotions within the community. This will keep your company approachable and receptive to the public. Just because our nation is becoming large doesn’t mean that we have forsaken the warmth of human contact and the familiarity of recognizable faces and voices. Your clients will enjoy that your employees are the faces on television, on billboards and in the brochures they’ve received. They’ll enjoy that voice they heard is the one they’re speaking to. A company with thousands of employees can maintain the values of closeness and speak volumes in their respective cities and towns. So as you market your employees’ new ideas and suggestions, don’t forget to market your employees as well. And don’t forget to teach your employees how to market. Show your company off!

4. Niche ID: Being competitive in the marketplace means providing services and products that others already provide. That is to say, there is no need to re-invent the wheel. What others have proven to do that works, you can do as well. But in order to remain competitive and grow your business; you must separate yourself and your company. This is one of many reasons why you diversify your employee base, so you can continually be faced with new ideas from a varying audience. Many companies seek the services of Madison Avenue for this very reason, new ideas and separation. When you look at your company, what do you see? Do you see different ages? Do you see women? Do you see different races or religions? Do you see a rainbow of cultures? If you don’t see any of those things, I’m afraid you’re missing something valuable. As a business owner and executive, your duties will always be monumental and not leaving you time for thought on many other accessible ideas for growing your company. You must surround yourselves with a team that not only maintains a competitive pace but can elevate your company through separation of identity. As a consumer, the inevitable question when faced with two diverging roads is “What’s the difference?” This question can only be answered by you and your company’s structure. The point here is not to create big and dramatic changes but something special and unique. As all business owners are salespeople in some form or fashion, in differentiating your company you will inevitably reveal the features and benefits of said separation. A lemonade stand cannot only be about a competitive price but must have something to create a buzz and a legitimate reason to attract onlookers. Upon achieving such a goal, you must then again be preparing for yet another round of separation and enhancement. These are the seeds of growth and as you water it, your company tree will not only grow tall; it will grow prominent. The most formidable tree is revealed in its roots and born of its seeds. Through the dividends of time coupled with the attention of proper nurture; the nature of your company tree will be proud in a forest of those unwilling. Build a strong tree and there your lemonade stand shall be. As you can see, there are many ways and measures to globe your business. The biggest issue is for you to remain diligent and aggressive in your pursuit. While seeking measures of growth, remember to venture potential mergers, re-evaluate your company’s status every 2 to 3 years and inspire and motivate your employees. Don’t allow you or your company to go into a proverbial slump or stump its identity and goals. As you diversify your company’s look, bring in people that are willing to push the company forward and thrust its position in the community. Your three (3) part equation is to: Evaluate Motivate and Navigate. Financial resources are an inescapable reality of life in the world of business. As a Commercial Finance Specialist, I say to you with confidence that there are banks, lenders, venture capitalists and angel investors seeking to assist you in your growth. While no repository is prepared for the diversity of the marketplace, a broker remains in tuned with the flows and trends that are available to business uniqueness. Seek out those opportunities and prepare yourself properly with accurate record keeping, comprehensive business plans, sound visions and ethical executions. Good luck and remember: Globe Your Business!

Sincerely,

J. R. Parler

JRParler@yahoo.com

Commercial Real Estate & Finance

J.R. Parler

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