"COST" to bring any failing company back to shape

"COST" to bring any failing company back to shape:
(CopyRight 2012; Benjamin Goh) 
 
- C for Communication. Suggest to your boss to call for a meeting each with different groups or departments in the company. Let her speak to them and assure them that the company is in a bad shape but that it is not about to shut down. Challenge the staff to fight this battle together with the management to bring the company back to a healthy state. For those who are willing to fight, please stay. For others who are not willing to fight, they are free to go.

- O for Orientation. Orientate every staff towards the quality issues that your company is facing with the customers. The standards that every staff must note is that they are to give their best in producing the best. No internal argument or fighting but only putting all their efforts and time into making the best quality products and customer service.

- S for Standard Operating Procedures (SOP). At this point, have every department or section manager to review the existing SOPs and make sure that all of these lead to consistent quality standards, whether in product or service. It is not good to fluctuate up and down in quality...that means sometimes very high quality and sometimes very bad quality.  It is best to be consistent or the same quality so that there is no surprises to both the internal customers (staff) and external customers (buyers of your company's products and services).

- T for Training. In any downturn situation of a company, many believe that training is the last thing to do. But this is in contrary and not true. Employees need to be trained to give and do their best. They need to be motivated so that they can work and give their best despite the problems that are brewing around them. The morale is low and so, they need to be distracted from these demoralizing environment and focus on team spirit, team building, more efficient and effective methodologies in getting their work done, and of course, a series of motivational talks to lift their spirits to a higher level.

SCM - Components that is beneficial to an organization wanting to adopt a supply chain management solution
(CopyRight 2008; Benjamin Goh)

S for Scalability. It has to be scalable along with the growth of the business.

C for Consistency. There is no such thing as a fool-proof and bug-free solution but being consistent in customer support service quality is key to ensuring the right support is available at the right time within the right budget and quality!

M for Manageability. Any company wanting to adopt an SCM solution should ensure that the top management is committed to the project and that there are dedicated and adequate resources to manage the project internally or in partnership with the solution provider(s). As such, offer assistance to guide and transit the customer(s) in achieving this manageability state.

... a final note.. depending on your specific vertical industry, there are several solutions available out there and it ranges from open source software (free) to highly expensive integrated enterprise solutions like IBS, SAP and Oracle, etc.. So, the question would be your budget and your business requirements.. and then, determine what makes business sense to your company!

SCAN - an approach to qualifying sales leads

SCAN - an approach to qualifying sales leads
(Copyright 2008; Benjamin Goh)

S for Source... is the lead from a reliable source?

C for Communication... telephone or meeting depends on product and service offering and the experience of the lead qualification person.

A for Assessment... is the lead within the target market?

N for Need... can we offer a solution(s) to their problem(s)?

Customer Experience Survey - SATISFIED

Customer Experience Survey - SATISFIED
(CopyRight 2011; Benjamin Goh)

Customer experience is what makes and break a company. How delighted is the customers' experience plays an essential part in all B2B or even B2C businesses! As such, it is essential to conduct Customer Experience Surveys regularly but effectively. The following attempts to serve as a guide ..SATISFIED!

S for Simplify the language in the survey.

A for Avoid abstract and open-ended questions. Ask direct questions and use quantitative terms.

T for Target and focus on one area at a time. Never ask more than one thing in any one question.

I for Identify trends. From the survey results, identify trends and look for differences by region and/or product.

S for Set key drivers. Analyze the key drivers by graphically plotting a graph with its importance to the customer's satisfaction (on the x-axis) and our performance in the area on the y-axis. This gives us 4 quandrants. The most important would be the lower left quadrant since the items plotted here will have high importance to the customers and where our performance in this area is low.

F for Feedback to customers. Expedite all necessary activities to ensure that customers are given feedback on the survey within a week the latest.

I for Identify what is really important to customers. From the Key Drivers analysis above, brainstorm on the important issues and assign appropriate resources to act on them immediately.

E for Emphasize top management commitment on areas where it has the greatest impact and improvement on customer satisfaction. Make it known to all staff.

D for Delight the customer. Set up a customer communication session (preferably face-to-face) regularly to advise them on actions taken and also gather more feedback accordingly. Ensure that all staff are adequately trained and equipped (make sure responsibility comes with authority) to manage these sessions.

There are many online research tools and the following are some examples:
http://www.questionpro.com/
http://www.keysurvey.com/
http://www.grapevinesurveys.com/customer-survey-software.aspx
http://www.surveyshare.com/
http://www.zoomerang.com/
http://www.checkbox.com/
http://www.magicsurveytool.com/
http://www.surveymethods.com/
http://www.isixsigma.com/vc/esurveys/

SAR - Affiliate Marketing - Success Factors

SAR - Affiliate Marketing - Success Factors
(CopyRight 2010; Benjamin Goh)
- - - -
S for Synergy between both Parties.
In affiliate marketing, there must be synergy between the businesses of both parties. There must be common ground where both parties core competencies lie. And in this common ground, both parties are assisting each other in achieving their individual specific business missions and profitability. This is important as this will mean having the same target market.
- -
A for Advantages to both Parties.
Mutual benefit is critical to sustain the relationship and cooperation for affiliate marketing. This implies mutual tangible (e.g. financial) benefits and intangible (e.g. social) benefits.
- -
R for Right at Home.
As in synergy and advantages, it is most essential that the company in question is RIGHT-AT-HOME. For example, a company going for the online business, should be named as an online business company. It should be simple and easy to remember. An example would be "ebay" rather than "Electronic Marketplace Corporation" (or EMC). Other areas would include corporate culture, way of doing business, form of marketing communications, etc.

RAFT - Key to Overcoming Relationship Problems at Work

RAFT - Key to Overcoming Relationship Problems at Work
(CopyRight 2008; Benjamin Goh, www.bensglobal.com)

R - Relationship.
No one is perfect in this universe and its almost impossible to always have a perfect fit with everyone around us! Therefore, what bridges the gap between an imperfect fit and a good bond are trust and relationship. If the relationship with the peer, colleague, customer, supplier, business partner has reached a level where they feel that we care more about them and their interests and a high level of trust has been established, then half the battle would be won in establishing a good working relationship with a genuine priority for the interest of the other party!

A - Adjust, Adapt and Align.
As in the book by Ilene Hochberg, "Who Stole My Cheese" (http://www.amazon.com/Who-Stole-Cheese-Ilene-Hochberg/dp/0762412364). The story is about four characters: Two mice named Sniff and Scurry, and two little people named Hem and Haw. These four characters live in a maze and live on cheese. (It is an allegory. It doesn’t have to make a lot of logical sense.) The story describes what happens to each of the characters as they face having to deal with the change that occurs when the cheese is no longer in the same place it has always been. The story makes the point about being prepared for change as well as coping with change when it actually happens.
Change is a constant. We can't avoid change even if we stick our heads under the ground like an ostrich. We have to embrace change and move on... Therefore, make adjustment to the changed situation (failure), adapt and then aligning to the new path ahead! As a Chinese saying goes.."Its impossible to force an ox to drink water". Thus, don't expect others to change. We should change for the better to fit the situation and match the other party.

F - Faith.
Very often, we lose faith of ourselves in situations where we are pushed down constantly and even worst, feel that we are not capable when we fail to meet up to the expectations of the other party. But in reality, failure is just a milestone in the path of success and FAITH is the fuel to drive us forward. As in Philippians 3:13 of the Holy Bible, "...Forgetting what is behind and straining toward what is ahead..." Therefore, we should treat the failure as a lesson learnt and continue to strive on to the target that we set for ourselves. The attitude of wanting to learn will help in boosting our faith in ourselves. The moment we stop learning is also the moment we will lose the impetus to venture through the thick and thin of our lives. Treat failure as one of the milestones in our learning process. Learning is not just about learning from others' knowledge and past experiences (successes, failures and mistakes) but learning is also about teaching and sharing our knowledge and past experiences. The more we share, the more we gain in the process! Therefore, equip ourselves with the spirit of learning and enjoy every moment of it and grow!!!

T - Tact
In all things, exercise tact in all circumstances! There is so much we can do to convince ourselves and others of what we can achieve for the benefit of others and ourselves. Ultimately, how we present ourselves to the people around us is a critical success factor for excellence in relationship at work.

...having said all the above, if there is a genuine intention of the other party to put us down, then my advise is for us to ship out and move on to greener pastures! If all is well, then let's focus our energy on shaping up for the benefit of making this world a better place to live in!

QUANXI - Building "Leadership Connections" with our clients, partners, and teams

QUANXI - Building "Leadership Connections" with our clients, partners, and teams
(CopyRight 2010; Benjamin Goh, www.bensglobal.com)

Q for Quest for information. Always listen more than talking. Most of the time we are more motivated to sharing our ideas, solutions, products and experiences than listening to what others have to share with us. The more we know what others are thinking, the more we are equipped to understand the other party and build strong relationships. Always adopt an open-door policy.

U for Unique. Everyone wants to feel they are special and unique. Whenever we present something to others, always allow them to feel that its tailored specially for them. The in-thing today in business development is what is called "mass-customization"; making what seems to be mass produced or standard look and feel customized for the specific customer.

A for Adjust+Adapt+Align. In building any relationship, always observe the other party and then, adjust, adapt and align to match the best suited form of communication for both parties. Communication is key in building connections, especially leadership connections as misunderstanding or mis-communication always lead to distrust and disrespect and eventually, disconnection.

N for Networking. Always network with the other party in their comfort zone. For example, our team may like to play basketball instead of golf. Join them in their basketball game and allow them to see and feel that you are part of them.

X for X-factor. Presentation of oneself in speech, physical outlook and openness of mind are key to building a strong leadership connection with others. Respect is earned and so, is in successful leadership.

I for Initiate always. Its important and essential to initiate any conversation or discussion or thoughts, etc. Initiation on the part of a leader breaks the ice for others to share openly with us. It is through sharing of their thoughts and ideas that allow us to learn more and then being able to coach, mentor or even provide adequate and useful consultation to others. Initiate, initiate and initiate more connections.

PROACTIVE - Best Practices for all businesses during a time of economic downturn

PROACTIVE - Best Practices for all businesses during a time of economic downturn:-
(CopyRight 2010; Benjamin Goh, www.bensglobal.com)

P for Prioritizing customer satisfaction. Customers are our lifeblood in any economic climate. Proactively take time to call upon key customers (80-20 rule) and discuss how we can serve them better. Incentify existing customers for any new customer referrals. Remember word of mouth is one of the most effective form of advertising.

R for Revisit Your Business Plan. Review it from the perspective of someone about to invest in your business. Strategize and identify additional information that is needed in order to make decisions about the future of the company.

O for Opportunities - Seek new business opportunities (Diversify). Find new markets for your existing products and services or add complementary services or products to your existing customer offering. Focus on your core competency and stretch it to the limit.

A for Alliances. Form alliances with suppliers and complementary businesses. Form conglomerates with other companies complementing your business and jointly seek opportunities. A pack of sticks is harder to break than a single stick on its own. With more eyes looking for opportunities, the probability of winning a new business is much higher. Network and set up advisory boards that include a wide spectrum of professional expertise that they can draw on for advice.

C for Change management. Look for changes in psychology and behavior in your clientele. You can gain a longtime relationship with a customer by approaching them proactively with the view of being there to help them through their own hard times.

T for Time and Money Savings. Between revenue and cost, cost can be controlled effectively and efficiently all the time. Find ways to save time and money and thus, pass savings to the customers. You will not only retain your customers, but you may also attract others.

I for Innovate by diversifying Your Customer Base and Advertising. Review your customer base and reorganize them into vertical industries or markets. Develop vertical market experts to sell into key industries where your major customer base are. With a different advertising or slight modification in the product, you can reach a broader spectrum of the population, perhaps into another vertical market. People are looking for better ways to do business during the economic downturn. If you have established strong customer satisfaction, this is the time to get the message out through advertising.

V for Value-Add by motivating the staff. The employees are most affected during economic downturns due to the fear of personnel cuts. Find non-costly ways to reward and acknowledge their efforts. A simple note of appreciation for work well-done to individuals or departments daily will bring motivation far beyond than can be imagined. When staff are motivated, they will naturally add value to the company as well as to the customer accordingly.

E for Expand Relationships with Existing Clients/ Sign More Long-term Deals. Offer discounts to customers who are willing to sign a long-term contract (blanket order) or who are willing to pay cash up front for a contract. Find out ways that you can offer to fulfil the other needs that your existing satisfied customers have or offer more products and services that your alliances offer.

NICE - Simple and Regular (Daily) Team Recognition and Motivation techniques

NICE - Simple and Regular (Daily) Team Recognition and Motivation techniques :-
(CopyRight 2009; Benjamin Goh, www.bensglobal.com)

N for Notes (Post-It, Emails, Memos). "A note a day keeps the employee motivated." As often as you can remember, write a simple note of appreciation or "thank-you" to any employee that has show initiative, integrity, good ideas, team spirit, done her/his best even though the results were not as favorable, good performance, etc.

I for Incentives (Monetary). Very often during the bad times, company cuts on monetary rewards. In fact, the best time to use monetary rewards is during the bad times (economic downturn) since a small amount would mean much. Define the incentives and how they are measured. Make available all information so that its a fair playing ground for all to participate. Be sure to issue an award certificate together with the token monetary award. The certificate can be simply a piece of BOND paper printed using a laser printer and signed off by the direct manager and the managing director (top management) of the company. This award is to be given out once every quarter or half-yearly during a little award celebration party held during the last 2 hours (office hours) and all are served with snacks, drinks or maybe some alcohol.

C for Cards; Birthday & Anniversary. Recognition should be more than just achieving good results. Remembering a special day of an employee like her/his birthday or anniversary of joining date is also as important. If you can, also send a wedding anniversary card to the residence of your employee for their anniversaries. This allows their family to see that the company extends their care and love beyond the office walls.

E for Employee Awards (Best Monthly or Quarterly). As in "Incentives", the Best Employee Award (or Most Helpful Employee Award, etc) could be used to complement the "Incentives" award since there will be employees who, in their very own capacity, will not be able to show significant contribution to the company's bottomline. For example, an administrator would be able to ensure the best filing is done for all project files and as such, all involved in the project can easily access the files for references and accurately understand the situation at hand. Although the administrator is directly involved in the successful completion of the project, the project would not have run so smoothly without good administration and documentation. Similar examples of the above type of appreciated contribution can be rewarded through this award. Once again, a token of monetary award like say US$50 shopping voucher would mean quite a lot during such times.

Negotiating a New Lease for a Start-up Business

Negotiating a New Lease for a Start-up Business
(Copyright 2009; Benjamin Goh, www.bensglobal.com)

Option 1 - Traditional Approach.
Get a commercial realtor from a recognized realty company as this would prevent any unforeseeable problems in the future that may lead to legal action. All commercial realtors will have standard leasing agreements that are normally fair for both parties. Provide them your requirements and it will save you a lot more time and resources where you can otherwise, use for other areas of your start-up.

Option 2 - Alternative Approach.
For more than a decade, some landlords in Asia have moved into profit sharing as an alternative payment method for leasing. In this approach, business plans will have to be shared with the landlord and how the profit is to be shared will also need to be discussed and agreed upon, in addition to the method on how the profit is to be computed.

NAME - Elements of an Effective Company Name

NAME - Elements of an Effective Company Name
(CopyRight 2008; Benjamin Goh, www.bensglobal.com)

N for New name. It is important to have a completely new name that is unique and not similar to any other company's name. You want to be unique and when you are successful, your success will be easily identified as being associated with your unique company name and not associated with some other company.

A for Attractive. A company's name should be one that attracts people to want to be associated with you; as your customer, as your supplier, as your business partner, as your employee, etc. It should be catchy and yet, simple!

M for Meaningful. A company's name should be meaningful in all sense; perhaps bearing the owners' name or its origin or its business initiatives/goals/directives.

E for Easy to Remember; Simple. A company's name should be simple and easy to remember and definitely, not a tongue twister. There are many interesting company names that are unique but terribly difficult to read. If a name is difficult to read, it will also be difficult to remember.


Bens-Global is my company name and the word can be broken up into 2 words, namely, Bens and Global. Its clear that the business is global and so, the name bears it. As for Bens, its associated to my name, benjamin. However, each letter in BENS has a meaning that defines the business that we are in.

B for BUSINESS
- Growth Catalyst, Business Development, Market Entry Development, Executive Coaching, Global & Regional Management

E for ENRICHMENT
- Cost Efficiency, Strengths Enrichment, Team Building & Empowerment, Value Chain Effectiveness

N for NETWORKING
- Corporate Communications, Marketing Communications Public Relations, Professional Networking

S for STRATEGIC-SOLUTIONS
- Business Process Design, Business Process Re-engineering, Tooling Design & Development, Organization Re-engineering, Change Management

M-factors - Determining the location of a Global HQ

M-factors - Determining the location of a Global HQ
(CopyRight 2008; Benjamin Goh, www.bensglobal.com)

M for Man. It is most important to be able to employ the best in the industry where the company is in. Human resource is one of the key assets of a company and the importance is paramount. The appropriate market knowledge, domestic and/or international, where applicable, is key to successful business and market development strategies.

M for Machine. Where machines or systems are essential to the function of the headquarters (HQ), it is important to ensure that quick and adequate support is available readily. Further, the further away the support team is located from the company, the higher the cost of support and the higher the risk of higher downtime when the machine(s) fail.

M for Materials. Readily available materials needed for the operations are key to maintaining a cost advantage over the competitors. If materials are not located overseas, it will imply additional cost in freight, custom duties, trade restrictions, etc.

M for Methods or technology. Is the key technology available in this location? For example, the proximity of research centers or higher institute of learning (HIL) where the technology is most prevailing would be a competitive advantage. This will ensure the ease of accessing the latest technological breakthroughs as well as the availability of the adequate research and development resources.

M for Markets or geography. The proximity to the key markets of the business is critical. This allows HQ resources to have better access to market requirements and shorter time (thus lower cost) to reach the key markets.

M for Money or financial. If all being right, one very important factor to note when deciding on the location of the HQ is government regulations, fiscal legislation, tax incentives, government funding, etc., that will be highly beneficial for the function of a HQ in that country or state. There are many develop or developing economies that offers many government funding and tax incentives for companies setting up global HQs.

MIKI - Critical Success Factors for any Business

MIKI - Critical Success Factors for any Business
(CopyRight 2008; Benjamin Goh, www.bensglobal.com)

The Product Focus was key in the 1900s and then, the Brand Focus in the 1950s. I strongly believe that in the 2000s, we are looking at Experience Focus. With Experience Focus, we mean "Meaning Benefits", that is to create more value by adopting a process that deliberately places meaning at the center of innovation – focusing on the roles, tools and process of identifying, designing, delivering, and maintaining meaningful experiences for our customers.

As such, the key to our success in any business would be "MIKI" (Marketing – Innovation – Knowledge Mgmt – IT) as follows:

M for Marketing
Marketing is key to any company's success in reaching out and making oneself known to the target market. We need to constantly strategise how we are going to market our solutions and products and far more important, how we are going to market the company. Its about how we are going to achieve excellence in making both our customers' experiences in doing business with us and their experiences in using our solution meaningful.

I for Innovation
Innovation is like breath to a company. Without innovation, the company will eventually run out of steam and strength or even will to move on. It is critical for us to constantly innovate our solution and product offering and even the way of doing business with us. We have to on top of market trends and political, economic, social and technological developments and changes. We need to innovate in order to survive.. its not a choice!

K for Knowledge (Chain) Management
Knowledge management is the leveraging of collective wisdom to increase responsiveness and innovation. There is a distinct difference between knowledge and its management and information and its management. Information Management consists of preplanned responses to anticipated stimuli while Knowledge Management consists of unplanned (innovative) responses to surprise stimuli. As Peter Drucker states "Knowledge has become the key economic resource and the dominate – and perhaps even the only – source of competitive advantage". As such, the only irreplaceable capital an organization possess is the knowledge and ability of its people. The productivity of that capital depends on how effectively people share their competence with those who can use it. As such, it is this long term preeminence that we need most if we are to weather changing markets.

I for Information Technology (IT)
As in any business, we need tools to achieve our business objectives and goals. We need to brainstorm what are the tools that we need to achieve the short term as well as long term objectives of the new company. It takes lots of efforts (resources) and time to learn and implement a new IT tool and its also extremely disruptive to business operations if we are to change and adopt a new tool in the future. The best time to implement a new IT tool, especially that of ERP or SCM software, is when the company is new and starting off with a brand new page. By understanding and appreciating the clear objectives of the business, we are then more equipped to source for a IT tool that will meet both our short term immediate needs as well as long term future needs. With this, I mean that we need to do it RIGHT at the START, rather than trying to make it right in the future. The IT tool must be scalable to meet our business growth needs as well as flexible enough to allow for us to adapt, adjust and align to the changing market demands. Change is an expensive process and as such, we need to ensure that we are equipped to enhance the IT tool efficiently (time) and most cost effectively. If we adopt a proprietary software, we will definitely not be able to control the above. As such, should we adopt an open source freeware that will allow us to internally respond but given the choice and option to source it out to 3rd party solution houses.

MANAGE - Tips to Managing Our Manager!

MANAGE - Tips to Managing Our Manager!
(CopyRight 2008; Benjamin Goh; www.bensglobal.com)

Management is a process leading to a goal or objective. Without a goal is like driving to nowhere. Have you tried jogging to nowhere? Its really exhausting physically and mentally as there is no checkpoints to motivate oneself to push on.

M for Milestones. This is the exercise that one must take to understand clearly and completely the goals and objectives set by the manager along the route (milestones) of the project and of course, the final destination (end-result)!

A for Attention to details. Initiate brainstorming sessions to tap more ideas from the manager. If she or he is not going to reveal her or his ideas voluntarily, then one must proactively create the situation to tap as much ideas from him or her.

N for Never say die. Self motivation is key to any success. As much as others can motivate us, the more important and critical is for us to be able to motivate ourselves. The successful person is one who is highly self-motivated and is self-driven to accomplish the task(s) given to her or him.

A for Adapt, Adjust, Align. Always adopt a mindset of change. Learn to move along with the waves and be politically savvy in as many aspects as one can. Talk less, listen much more. One who accepts change and move on is one who will eventually end up the victor!

G for Group. Never battle alone. As the chinese saying goes, "its difficult to break a bunch of sticks". Team up fellow colleagues (direct or indirectly) and have regular meetings (formal or informal) to tap on their views and ideas. Someone outside has always a different angle of looking at the things we do. Learning from others' mistakes and experiences are golden rules in the road to success!

E for Evaluation. Always evaluate one's progress and if unsure, ask questions. A manager may not guide one along but it does not mean that one cannot communicate to her or him and get as much feedback about how she or he feels about one's progress. Be proactive and place as many checkpoints along the way to allow oneside to be able to measure one's progress objectively.

A final note..fill the gaps of our manager and we fill the gaps to our bridge to success!
Of course, if the manager is out to destroy us personally, then get out as we will always lose. There is no point fighting a losing battle now .. there are golden opportunities out there waiting of us!

Loyalty - What Makes a Customer Service Organization?

LOYALTY - What makes a Customer Service Organization?
(Copyright 2009; Benjamin Goh, www.bensglobal.com)

L for List and Define what extraordinary customer service really means.

O for Organize customer activities to create opportunities to ask customers what extraordinary customer service really means.

Y for Yield to a corporate culture where critical customer information are freely shared within the entire organization.

A for Allow your people to be extraordinary.

L for Lay out clearly the commitment from management, share it and reward top performance.

T for Take patience on hand and expect no magic overnight.

Y for Yield to a road ahead filled with bumps and react accordingly.

...and a final note. "Build customer loyalty, not just satisfaction" ...When you apologize for problems and really listen, you build a relationship.

ICU - 3 Most Talked About Economies in the World in 2009

ICU - 3 Most Talked About Economies in the World in 2009
(Copyright 2009; Benjamin Goh, www.bensglobal.com)

ICU sounds like Intensive Care Unit. Yes, indeed the current global economic crisis is like a patient (or similarly the global economies) housed in the ICU. It is a specialized department used in many countries' hospitals that provides intensive care medicine.

It was projected that by 2018, China will overtake the USA as the largest economy in the world, with India as number 3. As such, I like to classify my choice of the 3 countries as ICU.

I for India. Thanks to Asian giants like Gandhi, Nehru, Mao and Deng, the revival of India and China is changing the 21st century. India’s growth rate will slow in 2008-09. Principal reasons for this modest drop in economic growth include (i) a large and diversified consumption base for the Indian economy; (ii) India’s trade to GDP ratio is much smaller than that of, say, China; and (iii) Indian financial markets are still relatively insulated from global financial markets. India has a healthy external balance, with high foreign exchange reserves, low ratio of short term external debt to GDP and less than complete capital account convertibility.

C for China. Its now, by far, one of the most mentioned Asian economy in everything around us, from daily products that we use to international news that we hear. China has become somewhat the Big Brother in Asia and it is definitely a country that's worth mentioning. By 2030,China must and will play a constructive role in tiding over global financial crisis and thus, strive to create trade and investment opportunities for its trading partners and international investors.

U for United States of America. The natural BIG Brother of the world since ages before. Most countries looked up to the US for directions and support. In the 1980s global downturn, the U.S. economy accounted for about one-third of the world's economy. It now accounts for one-quarter. The U.S. government is also far more indebted than it was in the '80s.

Searching (WED), Shortlisting (ICE) and Signing-up (GET) the Right Business Partner?

Searching (WED), Shortlisting (ICE) and Signing-up (GET) the Right Business Partner?
(CopyRight 2009; Benjamin Goh, www.bensglobal.com)

In looking for a business partner, its like looking for the right spouse to "WED". As such, "WED" before you wed:-
- W for Word of Mouth. In your network circle, ask those in your network to recommend potential business partners that they have had good experiences with or not so good experiences. This allows you to gauge their recommendations and decide on who is good for your projects.
- E for Exhibitions. Visit trade shows where potential business partners may be exhibiting. Check them up and understand what your options are.
- D for Directories. Look up industry directories or trade show directories where you can find some suitable business partners. Likewise, check them up and understand what your options are.

Once you shortlist several suitable business partners, you should perform the "ICE" to ascertain who is the most suitable:
- I for Interview their key personnel. Ask them about the approach to doing business with you, how many projects they are in to ascertain if they shorthanded, etc. Escertain that you share common values, common goal, similar level of commitment, an adequate financial position and
possesses complementary strengths.
- C for Check them up on the internet (technology blogs, etc) and other possible sources.
- E for Examine their customer references. Understand from others how they are.

After you have selected the Right Business Partner(s), then you have to make sure that you will "GET" in order to guarantee a successful marriage.
- G for Goals. Have realistic budgets and schedules. Have some buffers just in case!
- E for Expense and Expectations. Plan for cost overruns and set the right expectations up front before the project(s) commence. Evaluate the partnership upon an agreed time and plan for an exit strategy just in case the partnership fails.
- T for Time. Plan for delays. Make sure that this is taken into account in the time schedule planned for the project.

HOME...key to success in working at home!

HOME...key to success in working at home!
CopyRight 2008; Benjamin Goh, www.bensglobal.com)


H for Home is a home and its never the same as the office! So, set aside a dedicated space or room that is solely just for working and nothing else. Draw clear boundaries for that special space or room!

O for Ownership of work. Always remember and keep reminding oneself that the work produced, whether at home or in the office belongs to oneself and the pride lies in the delivery and results of the work. So, feel a deep sense of ownership.

M for Mentor or Manager. Its good to have a mentor who will be able to provide you guidance and directions wherever and whenever you need it. Working at home is already a challenge and working alone can be uphill climbing. So, get a coach or a sparing partner who is available on a regular basis (weekly or monthly or quarterly) meet you up in that special space (workplace) in your home.

E for Evaluate. In order for one to be successful in any challenge, one should always and consistently evaluate one's performance as well as getting feedback from others one works with. If there is a problem, embrace with an open mind and see how one can improve the working environment or the working schedule or getting rid of any possible obstacles and hindrances.

GAM - Approach to Global Account Management Excellence

GAM - Approach to Global Account Management Excellence
(CopyRight 2008; Benjamin Goh, www.bensglobal.com)

Goals and objectives.
Essential to brainstorm and communicate with all concerned about the goals and objectives set for the global enterprise account. Conduct regular goal setting and road map sessions with customer(s) and colleagues!

Adapt-Adjust-Align.
Change is the only constant in today's rapid growing business environment. A commitment to change is key to success in meeting the competitive challenges and demands of the person-in-the-street!

Metrics.
No one plans to fail but the greatest mistake is failing to plan! In planning, set up measurable KPIs and various metrics that are agreeable to customer(s ) and colleagues! Regular reporting of KPIs and metrics are best practices for successful communication and allocation of adequate resources.

FECT - Sales funnel metrics

FECT - Sales funnel metrics
(CopyRight 2009; Benjamin Goh, www.bensglobal.com)

There many ways one can measure the success of the sales funnel and these are normally measured over a fixed period. From the results, one can then determine the necessary corrective steps.

F for Funnel Metric.
This is the total value of all deals in the funnel. Since different deals will have varying degree of closure success, weightage for all deals can be added to reflect a more accurate estimate of the funnel value.

E for Eligibility Metric.
This is the measurement of the number and potential value of deals that are eligible or being qualified into the funnel over a pre-determined period. This will provide an indication of the rate of qualifying deals that in return, provides management an indication of the sales effort in generating qualified leads.

C for Conversion Metric.
This is the ratio of the deals that are closed against the deals that are just qualified into the funnel. This provides management with an indication of the success rate of a specific sales person in closing the deals that she or he qualifies.

T for Time Metric.
This measures the time taken for a deal to flow from the moment it is qualified into the funnel to the time it is closed (whether an order is received or the deal is lost or cancelled). Very often, one will find that there are deals that are strolling or stuck. These should be taken out of the funnel and managed accordingly so that the funnel will provide a more accurate representation of the sales flow.


Use the MathMarketing’s Sales Funnel Calculator™ to compute exactly how many sales we can generate from our sales funnel, and how many prospects we need in the top of the funnel to achieve our targets.
http://www.mathmarketing.com/sales-funnel-calculator-2


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