Want a Larger Piece of the Pie?

By Larry Galler

At a recent family gathering, my cousin Ann, known among those seated at the table as "dessert-maker extraordinaire," cut her delicious-looking (and tasting) apple pie into equal-sized pieces and served it. Everyone smiled as wedges of the fragrant, just-warmed delicacy were passed out, but I think each of us around the table, we were hoping for a little larger piece of pie.

Same thing in business. Everyone wants a larger slice of the pie!

That's what we call "Market Share." The pie is the total size of our marketplace we sell to, and our share is usually expressed as the percentage our sales are compared to the total.

Market Share is one of the battlefields large companies fight over, but most small businesses brush it off as "only important to the big guys." However, with a little digging for information, it can be just as important to you. Knowing your approximate market share will create insight into the potential for growth and can help define your marketing strategy.

No matter what you sell, you should be able to discover the approximate size of your market. Accurate market size figures are available from census reports and industry statistics. Even if little information is available, you can make reasonable estimates and extrapolations based on your knowledge and experience in your geographic or industry marketplace.

Answer these simple questions: How many widgets (whatever you sell) do you estimate will be sold in the marketplace you serve? How many widgets will you sell this year? Divide answer 2 by answer 1 and that percentage is your Share of the Market.

If you discover you dominate your marketplace, there might not be much room for growth, which means that, in order to grow, you'll need to increase either your geographical reach or the number of products/services you sell, or you'll need to discover another avenue to increase demand in order to boost potential sales. If you have a small share, there is real potential if you can get noticed, so strategize to build a larger customer base.

In order to keep peace in a family, you shouldn't steal a couple forks of pie off your sister-in-law's plate, but those family or social rules don't apply to capturing business. A new website, a different method of packaging your product or service, an aggressive pricing strategy, and a changed sales presentation are all strategies to get you a larger slice of the market, but it starts by discovering your current share and creating the strategies to improve.

Question or comment to Larry:  larry@larrygaller.com

Larry Galler coaches and consults with high-performance executives, professionals, and small businesses since 1993. He is the writer of the long-running (every Sunday since November 2001) business column, "Front Lines with Larry Galler". For a free coaching session, email Larry for an appointment -  Larry@larrygaller.com. Sign up for his free newsletter at http://www.larrygaller.com.

Article Source:  Want a Larger Piece of the Pie?

Want a Larger Piece of the Pie?

By Larry Galler

At a recent family gathering, my cousin Ann, known among those seated at the table as "dessert-maker extraordinaire," cut her delicious-looking (and tasting) apple pie into equal-sized pieces and served it. Everyone smiled as wedges of the fragrant, just-warmed delicacy were passed out, but I think each of us around the table, we were hoping for a little larger piece of pie.

Same thing in business. Everyone wants a larger slice of the pie!

That's what we call "Market Share." The pie is the total size of our marketplace we sell to, and our share is usually expressed as the percentage our sales are compared to the total.

Market Share is one of the battlefields large companies fight over, but most small businesses brush it off as "only important to the big guys." However, with a little digging for information, it can be just as important to you. Knowing your approximate market share will create insight into the potential for growth and can help define your marketing strategy.

No matter what you sell, you should be able to discover the approximate size of your market. Accurate market size figures are available from census reports and industry statistics. Even if little information is available, you can make reasonable estimates and extrapolations based on your knowledge and experience in your geographic or industry marketplace.

Answer these simple questions: How many widgets (whatever you sell) do you estimate will be sold in the marketplace you serve? How many widgets will you sell this year? Divide answer 2 by answer 1 and that percentage is your Share of the Market.

If you discover you dominate your marketplace, there might not be much room for growth, which means that, in order to grow, you'll need to increase either your geographical reach or the number of products/services you sell, or you'll need to discover another avenue to increase demand in order to boost potential sales. If you have a small share, there is real potential if you can get noticed, so strategize to build a larger customer base.

In order to keep peace in a family, you shouldn't steal a couple forks of pie off your sister-in-law's plate, but those family or social rules don't apply to capturing business. A new website, a different method of packaging your product or service, an aggressive pricing strategy, and a changed sales presentation are all strategies to get you a larger slice of the market, but it starts by discovering your current share and creating the strategies to improve.

Question or comment to Larry:  larry@larrygaller.com

Larry Galler coaches and consults with high-performance executives, professionals, and small businesses since 1993. He is the writer of the long-running (every Sunday since November 2001) business column, "Front Lines with Larry Galler". For a free coaching session, email Larry for an appointment -  Larry@larrygaller.com. Sign up for his free newsletter at http://www.larrygaller.com.

Article Source:  Want a Larger Piece of the Pie?

Solutions to Private Label Your Products

By Umair Abbas

Private label rights products (PLR products) are popularly known as the products that are owned by you though not created by you. Purchasing PL rights from real owner means that at an agreed price you buy products from the original equipment manufacturer (OEM) and are then free to sell/ promote/ modify/ edit/ or resell those products as they were your own. After selling PLR to someone, original equipment manufacturer (OEM) can no longer claim any differences in opinion that may arise due to product being modified/ sold by a PLR buyer. Intellectual property can also be a part of private labels.

There are various articles available on the Internet informing about the advantages of private labeling, but no one shares the cost of private labeling when import from China, or their own experience about "how to do".

On this page you will read the top solutions for adding your logo/ label on products coupled with our own experiences. Ultimately, you will learn various ideas about "how to add your own brand on products".

What is Private Label and its Importance for New Business?

Private label is the pattern or logo on products manufactured by a contractor or third-party manufacturer and then sold under a retailer's brand. This represents the seller as well as helping in building customer loyalty.

People that are willing to import items from china and then sell them online like Amazon, are advised to:

� Find a good product niche with limited existing competitors

� Choose only quality items from China

� Add your private label on the product, and;

� Start to market that product under your own brand.

The followings are the top solutions and they will also let you know about the estimated cost for every solution in China. After learning these solutions you can stay safe from overcharged rates by Chinese suppliers and also get ideas about how to add private label on your products.

Screen Printing/ Silk Screen

This is one of the most widely used methods for adding a private label on the product as well as packaging. This can be applied to almost every type of material e.g. plastic, glass, stainless steel, rubber,

PPE (personal protective equipment), etc. Screen printing is the cheapest and easiest way to add private label for buyers that are purchasing over 500pcs/item.

If you can buy over 2,000 items, most Chinese factories can offer you free of cost screen printing service. However, some of them may charge you around $50 to $60 fee for creating a printing plate of your logos. You can easily find printing suppliers in China, even if your supplier doesn't offer printing services.

There is only one drawback of screen printing that it is not suitable for multi-colored patterns. If you are willing to print your gradient color logo on the products, you have to consider thermal transfer or other solutions.

Thermal Transfer

This process is more complicated than screen printing and it requires a temperature of 140 degrees to 180 degrees. It is a little bit more expensive compared to silk printing and also has some restrictions on materials. Thermal transfer is applicable to leather, wood, stainless steel, glass, ABS, PE, PP, and EVA, disposable respirators, etc.

Thermal pattern is the best choice for people having a really fancy pattern with gradient color. The cost of creating a printing plate is around $100, and a printing fee for a 7x7cm size gradient color logo is $0.04.

Laser Engraving/ Laser Printing

Laser engraving or laser printing, gives products a high-quality appearance. Almost every gift store is filled with items that contain laser printed logo.

Usually this method does not has huge MOQ because it does not require any plate. Its rate can vary from supplier to supplier, but for mass production, it can cost you around $0.01-$0.15 per unit, depending on the size and quantity.

Molding

This solution makes your private label in the product mold. This means your logo will be there when the product comes out from the machine. It can be applied to all rubber, reusable half masks, dust masks, coveralls, disposable clothing, metal, or plastic made products.

Although this solution makes your private label looks more natural than printing, but it is a high cost solution because it requires to change the supplier's mold. The price depends on products, but usually it costs $1,000 to $3,000. Moreover, creating molds requires 15 to 20 days and that is a time taking solution.

Customized Box

This solution works for every product. Undoubtedly it is the most expensive solution amongst other ways, but a nice fancy box can certainly make your product look great. You can add extra value in your product and sell at a higher price.

Since box packaging is a large industry, its price varies from different material, technique and machinery. The cheapest price for a 8"x4"x4" corrugated case with pattern on it can cost around $0.16 per unit.

Printed Poly Bag

This actually is a type of packaging and also a way to add private labels. Printed poly bag is very simple solution for large quantity goods as compared to other solutions. The printing plate costs around $80/color, and manufacturers usually demand tens of thousands as MOQ.

Hang Tag

This is one of the most economical solutions for private label. Usually it is applied to categories like toys, apparels, tools, fashion, and jewelries, and Handanhy, etc.

Most jewelries and clothes brands select this solution to present their label. These tags are usually made of kraft or ivory cardboard, and sometimes they are even made of plastic or metal. Most people choose "300 gsm ivory cardboard" because that is very economical.

Sticker Label

This is absolutely the simplest, most widely and cheapest solution amongst all. There is almost nothing which cannot be sticker labeled. You can easily find sticker label vendors and the MOQ costs you only $40 to $50 for one design.

Woven Label

Usually woven labels are sewn at the edge of fabric made items such as jeans, hats, bags and shoes, etc. The price of this solution depends on the size and quantities. The MOQ is normally 1,000 pieces with a price around $0.1 per unit.

Machine Embroidery

This solution is applied to items made of cloth like bags, garments, and caps, etc. Machine Embroidery is very durable and a 4x5cm size private label costs around $0.20.

Concluding Remarks

The above mentioned are the best solutions for people that are willing to make their own design, but are unaware of where to start. You can download your favorite elements from the internet or get the help of specialist designers to design your private label.

Article Source: Solutions to Private Label Your Products

How to Get Started With Referrals

By John Melchior

When you are a small business not having as many customers as you would like has some positives too. The main one is that as the owner you are much closer to your customers than larger business. You just have more time for personalized service.

Unfortunately, that proximity to customers isn't enough to keep you in business. To grow your business, take advantage of your great service by gaining customer referrals from existing customers.

I know. Asking for referrals feels pushy. However, do you really have a choice? Think about it. You are in business because you think your product or service will help people. Most people like to help others. They enjoy passing along a good tip about a great product or service. By asking for a referral you are actually doing them a favor. So ask your customers after you have given them great service - Who is a person you know who would benefit from having our product/service?

Other than providing great service, another way to make a personal connection with your existing customers is to send a newsletter. Instead of sending the average, boring email that most businesses send, focus on success stories of your existing customers. Explain how you solved a problem that one of your customers faced. Explain why solving that problem was important to them and explain how you solved it. Then include a testimonial from the customer.

When you look for products or services for your business or even in your personal life don't you find it helpful if you see how someone else had a success with a service?

Lastly, ask the person who gave you a testimonial to name any people they know that are in a similar situation.

Formal referral programs seem old fashioned, however they are still effective. A formal referral program can be as simple as mailing 50 business cards to each one of your customers and explaining to them to pass them on to friends and write their names on the back of it. If a new customer walks in with a name written on the back of your business card, that person will receive a reward from you.

Strike up alliances with ancillary businesses. Have you ever had a doctor refer you to a specialist? Think about it. There are businesses that are in a similar situation as the generalist doctor. In pest control I have found small pet stores that I partner with. When one of their customers complains about flea infestations, the store owner tells them that he knows a great pest control company that can help them with their flea problems.

Here is the way I got in touch with pet store owners. I asked a current customer with a pet to recommend a pet store to me. Then I asked the customer to call the owner of the store to let the owner know that I will call. Now, when I called the owner already knew who I was and how we were connected.

Don't ask for referrals right away. You need to build a relationship with the store owner first. Show him that you can provide value by finding him referrals first or helping him in some other way. Once you have built the relationship you can approach him with your strategy on how your company could help his customers. To make the offer appealing let him know that you are willing to provide discounts to the customers he refers.

Lastly, if you are still hesitant about growing your business through referrals you might want to look into BNI. BNI is an organization that focuses on creating referrals and relationships by business owners in different industries. If you agree that referrals are the way to go but are too shy for ask for them look into BNI as a way to provide the peer pressure to get you started.

John Melchior is the founder of Kapture Pest Control in Bergen County, New Jersey. Kapture is the only pest control company designed for busy families.

Article Source:  How to Get Started With Referrals

Those Who Can, Teach

By Kim L. Clark

What's a proven way for Solopreneur consulting service providers to demonstrate expertise, distinguish yourself from the many "me, too" competitors; position yourself as a thought leader; and work against being perceived as a commodity? Teaching! The old proverb, "Those who can, do and those who can't, teach" doesn't hold up in the 21st century marketplace.

Teaching is the smartest-ever marketing activity. You get paid to do it, so along with it being savvy marketing, teaching simultaneously benefits your cash-flow. If that's not enough, through teaching you will become a better public speaker and better able to promote yourself as a keynote or a panel moderator. In horse racing, they call that a trifecta!

Ideally, you'll teach a subject related to your business. Artists since Michelangelo (at least) have taught art classes. Best-selling book authors and award-winning playwrights are usually able to join a university faculty, where they earn steady money teaching creative writing classes. Distinguished investigative newspaper and magazine reporters often teach journalism at universities, which is a superb addition to their curriculum vitae.

Self-employed bookkeepers can teach fellow Solopreneurs how to use QuickBooks. Marketers can teach the basics of social media marketing. Landscape artists can teach homeowners how to choose shrubbery and flowering plants for their yards, or how to create and maintain a window box filled with lovely plants. Developing proficiency in the ancient and noble art of teaching delivers numerous tangible and intangible benefits to Freelancers and their students.

If you've never taught, I recommend that you both learn curriculum development and hone your teaching skills by writing a proposal to teach one of your professional competencies at an adult learning center, library, or some other organization that offers workshops to the public for free or at a modest cost.

Some time ago, I wrote proposals for a series of 90-minute sales skills training workshops that were accepted by an adult learning center (that happens to be the oldest adult learning center in the country, BTW). The workshops were successful and attracted paying students for four or five years. That teaching experience helped me get hired to teach a 20-week business plan writing course that was sponsored by a women's entrepreneurial development center that's funded by the Small Business Association. I taught for two semesters and it was a wonderful experience.

As you visit websites to research teaching opportunities, confirm the credentials required of instructors and peruse the types of courses that are offered. Master's degrees are often required (but not always mandatory) and you'll need to know if the subject matter you might teach is offered at the institution. Also, read the instructor bios and I'll bet you'll discover a few Solopreneurs on the faculty.

Once you've developed a workshop and learned how to successfully present it, consider taking it online in a YouTube video. E-learning is a growing field and becoming proficient in presenting an online course is to your benefit. Schools are transferring ever more courses to the online format and if you have the know-how, you will be a more attractive candidate for those disappearing adjunct opportunities.

If you've earned a master's degree and have a minimum of three years of teaching experience, you may be able to teach at a local college or university. Adjunct (that is, part-time, non-tenure track) teaching is great, but the market has become quite competitive in some parts of the country.

Thanks for reading,

Kim

Kim L. Clark is an external strategy and marketing consultant who brings agile talent to the for-profit and not-for-profit organization leaders for whom she works. You can ensure that mission-critical projects at your organization are achieved when you contact Kim at http://polishedprofessionalsboston.com.

Article Source: Those Who Can, Teach

Advantages & Disadvantages of Choosing AngularJS Web Development

By Maulik D Shah

Angular JS is an open source framework for building web applications. Tech giant Google maintains it. Coders face many issues while developing and testing any code. It resorts many of the challenges which the coders may face.

AngularJS mixes HTML codes and app modules to form a framework. Its earlier base was Model View Controller (MVC) Architecture. It was mainly in use for planning rich web applications. But, situation has been on a change since the introduction of the Angular JS 2.

The new and superior features of this technology are a boon for the Angular JS Development Companies. The advanced technology can now naturally be in sync with models and view. This makes AngularJS web development a very simple process.

In short, some of the stand out features of AngularJS are:

- Two-way data binding

- MVC structure

- Directives

- Templates

- Dependency injections

- Testing

Apart from these basic advantages, these are the few reasons which make Angular JS the first choice for web development.

Let us look into these advantages in detail:

Most widely used Framework
AngularJS is one of the most widely used frameworks for creating websites. Also, for the mainstream development, Angular JS is in use. Moreover, it has a fine support of a global community of keen and talented developers.

Declarative Code Style
The most hectic job in coding is writing codes for every little function. You need to write multiple codes for adding a single function. With the declarative coding paradigm, AngularJS ensures that the coders have to write fewer codes. The coding reduces for executing the same goals. In simpler terms, you do not need to write all the steps involved in any action. You just have to write the final steps!

Wide Recognition
AngularJS web development is a globally known framework. It is in use for developing high quality apps. In addition, it is also known for developing hybrid apps. Many development frameworks and stacks across the world are using AngularJS for this purpose. It has a wider global acceptance and is trending currently as a technology for developing web apps.

Data Binding
For enhancing the testing ability, Angular JS is in use. Testing enhancement is because the decoupling of data can have the view of DOM element or HTML. The developer can effortlessly identify the logic that controls this data. Moreover, the data separation is also very simple. Hence, the division of UI element and its representation makes viewing a pleasing experience than other frameworks.

We have seen the positives of Angular JS development. Now, let us see why few web development companies remain distant from using AngularJS.

The Disadvantages of AngularJS

Performance Glitches
As the apps developed under the AngularJS framework are dynamic. These dynamic apps lack in performance. Sometimes complex single page apps can have some lags and show glitches while performing.

Need Professionals
An entrepreneur may look at Angular JS as the best suitable framework for web app development. But, you get to know that your classical web development knowledge would create confusion when you use AngularJS. Features like dependency injection and firm can be challenging for you. Either you will have to invest more time in learning or you may have to look for professional help.

JavaScript Mandatory
Nothing in the world is absolute. Is it universal that all the computers and laptops would have a JavaScript support enabled? When you own a business, you want to reach maximum number of people. When JavaScript support is missing, your website or app would not be able to reach these people. Your web app would become less useful. Instead, if you use HTML as the base for web development, this problem eliminates.

Maulik Shah is the Founder and CEO of Biztech Consulting and Solutions, a fast growing IT solutions provider specializing in Mobile Apps Development and   AngularJS Development Services. Maulik is a tech enthusiast and writes about the various Aspects of ecommerce technology.

Article Source:  Advantages & Disadvantages of Choosing AngularJS Web Development

Advertising Signage Trends to Watch Out for in 2018

By Basharat Khadim

Emerging advertising tools and channels are continuously changing the way we communicate or promote products or services. Signs, whether safety or commercial, are now being designed with the glittering digital display that presents content in a very engaging and attractive form. With the features of LED screens, companies now have the power to maneuver content in so many interactive ways to enhance their visibility. Understanding emerging signage trends will definitely enable you to create a good looking set of signs for your business. Following are some signage trends that will help you understand how to improve the presence of your business in a competitive environment.

Electric display

Despite new technologies, traditional signs are still playing an effective role in promoting small and large businesses. However, in the future, digital screens will gain more popularity and acceptance. It is because moving content with digital features is more powerful and engaging than a static sign. Modern consumers now have the freedom to get information regarding their desired products and services by simply browsing through LED boards.

Interactive content

Modern advertising techniques are bringing interactivity to offline advertising. The trend to display content in an interactive way will continue to gain more acceptance. Highly sophisticated display signs are bringing the idea of Internet of Things (IoT) into life. In coming years, tech-savvy businesses would be able to use signs that will show content according to viewers needs and preferences. The idea of IoT has clearly been put into practice by modern signage technology. Digital touchscreens and projectors are likely to be used widely in the future.

Social media integration

Social media has become a key advertising strategy for all kind of businesses. Whether you are a small plumbing contractor or a large brand, it has become inevitable to integrate social media into your advertising efforts. It will become more important than ever to use social interactions in the signage to improve engagement.

Content will continue to dominate

Content is of paramount significance for marketers and businesses. It's the content that drives people to take actions. No matter what kind of signs you are using to promote your business, you need to focus on creating valuable content that has the power to make people buy. Even if you are using simple banners, decals, wraps, or vehicle graphics to advertise something, your content should be up to the mark. Make a good use of signage to promote your brand and do not forget to follow new trends.

Being a reputable company, A Sign Promotion provides innovative and up to date   signage solutions to businesses of all sizes in Edmonton. We only utilize advanced printing machines and graphic design software to create amazing products for our clients. From wraps and banners to 3D lettering and graphics, we provide a broad range of ROI-focused signage services. Feel free to discuss your project with us!

Article Source:  Advertising Signage Trends to Watch Out for in 2018