Wednesday, 18 May 2016

Important things you need to be aware of when starting a manufacturing company.

1. Start with an idea-: The first thing you need is an idea. What is that thing you want to start manufacturing? It is important to come up with innovative ideas and not just a copycat kind of manufacturing business. I mean, you can copy but it has to be a better version of what already exists. Some of the ways to come up with innovative ideas include-:

Choose a niche you like-:
There might be a product you are passionate about; this is a good place to start from.

High demand products
-: There are certainly some products whose demand exceeds supply or products that typically have high levels of demand; you can look into any of these products.

Fill a gap-:
You could also look for existing gaps in the market that you can fill. For instance, if you live in a place where getting clean, portable drinking water is a problem, you can consider production of packaged water to fill this gap.

Profitable Business Ideas in the Manufacturing Industry

Are you interested in starting a manufacturing company? Do you want to learn what it takes to run a manufacturing company? If YES, here are 50 profitable small scale manufacturing business ideas you can start with little money and no experience.
One of the major vehicles that drive the economy of any nation is the manufacturing industry. Countries that are considered to be industrialized, advanced and economically buoyant are countries with vibrant and active manufacturing sector. No doubt the manufacturing industry is indeed an industry that is wide and all – encompassing – simply because manufacturing is all about producing goods, equipment, chemicals, machines, et al.

Monday, 2 May 2016

How Can I Tell If There Will Be Strong Demand for My Product?

How can I test my idea to ensure that I'm entering a profitable, or at least healthy, market? I would like to understand the steps involved and when I can be sure my product is ready to enter the market?
There are two parts to this question. 
A) How big/healthy is the market you are trying to enter (or, what is your primary demand)? And, 
B) is there an opportunity within that market for your product (what is your secondary demand)?

Your Employees are Stressed Out About Their Financial Futures, Study Says

A vast majority of American workers are worried about their financial future, according to a new study by Bank of America Merrill Lynch.
The latest Workplace Benefits Report has revealed that American workers’ stress about their finances has increased, while confidence in their financial futures has decreased. Specifically, three in five employees today feel stressed about their financial futures, up from 50 percent in 2013.
For the study, Bank of America Merrill Lynch conducted a nationwide survey of more than 1,200 employees with 401(k) plans at companies of all sizes.

Key Takeaways

Some of the key findings of the study about employee financial stress include the following:
  • More than half (55 percent) admit to needing help managing their finances, including saving for retirement and managing debt.

Sunday, 1 May 2016

Things You Are Doing Wrong With Email

Email continues to be our primary means of communicating, both personally and professionally. Because of this, it needs to be an important consideration as part of our personal brand, reflecting in every email we send who we are and how we want to be seen.
Unfortunately, we seem to be getting worse rather than better when it comes to email etiquette.
Each day, over 200 billion emails are sent and received around the globe, and U.S. workers spend an average of 6.3 hours on email daily. Add to this the constant flow of information and content from countless other sources, and it is easy to understand how we might be suffering from email fatigue and getting lazy. 
With that said, here are a few common email mistakes you can avoid.
  1. Including vague subject descriptions: We all look to the "sender" first when deciding whether to open an email, then to the "subject" line. Clearly describe the purpose of your email so that if you aren’t cool enough to pass the first criteria, at least you can win them over with the second.

Marketing Principles to Dominate Your Target Market

If marketing is critical to the success of any business -- and believe me, it is -- how do we reconcile that with the reality that few business leaders actually understand marketing and give it the focus it deserves?
I think I've figured out the answer. While selling is relatively straightforward and intuitive, marketing is not. Marketing is complex and nuanced. That’s why it mystifies so many, and yet it’s absolutely critical to business success. That’s why the four principles I’m about to put forth are important.

Principle 1: In competitive markets, it's winner take all.

While markets tend to grow and shrink over time, at any point in time, markets are static, and so is market share. Those near the top enjoy higher margins, pricing power, and more money for employees, perks, and future development. Those near the bottom will soon be goners. And it’s a tough slog for everyone else.

6 Secrets for Success in the Craft Beer Industry

In Start Your Own Microbrewery, Distillery, or Cidery, the staff of Entrepreneur Media Inc. and writer Corie Brown with Zester Daily Contributors explain how you can get started in the craft alcoholic beverage industry, whether you want to start your own microbrewery, distillery or cidery. In this edited excerpt, the authors suggest six critical elements that will determine whether you succeed or fail in the craft alcoholic beverage industry.
To thrive in today’s craft alcoholic beverage business, you'll need to bring brains, heart, and brawn to your venture. And while your entrepreneurial personality may trend one way or the other, what matters is how you take those small identifiers in your own story and work them in your favor. Following are six key characteristics that will help you succeed in the craft alcoholic beverage industry.  

1. Start prepared

There's no time to learn on the job these days. You may not need specific credentials, but you need to come to craft with enough business savvy to stay ahead of the throngs of other newcomers. Ask yourself if you and your partners have:
  • An understanding of the business of producing perishable goods;
  • Detailed knowledge of alcoholic beverage production processes;