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The Nusqu Group

A New Paradigm Of Business

Direct Marketing Success Steps

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By Richard Okolo

When considering a direct marketing program, there are four critical components. Make sure to specifically review these key points before implementing a marketing program:

- Acquire the best mailing list you can. There are many ways this can be done. Usually, for a free you can purchase mailing list(s) based on the demographics of your target market(s).

- Include a strong offer in your solicitation. You need to capture your audience’s attention. The easiest way to do this is to offer something for free (as long as it is not at a substantial cost to your bottom line).

- Work carefully on your script. Failing to express your offer can destroy your effectiveness and adversely affect your sales.

- Work out the financial specifics. It is imperative to make offer(s) that attract interest without giving your product(s) away.

Of all four of these, the best mailing list is the most important. Nothing can make up for marketing to the wrong prospects.

Copyright © 2011 The Nusqu Group. All Rights Reserved.

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Written by admin

June 9th, 2011 at 5:00 pm

Posted in Business

What Are Your Contingency Plans?

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By Richard Okolo

Every company should have a plan that addresses extenuating circumstances beyond it’s control. Profitability is very dependent on the extra effort(s) of all employees and critical to overall longevity. Each percentage of extra effort extend by a company adds value and offsets contingent adjustments. Losing that last portion of effort may cause a firm to resort to unconventional methods of problem solving, which can be more of an expense to any business.

Specifically, unanticipated operating circumstances usually affect “human capital” the most. Management should take into consideration how operations would continue to without a specific employee or piece of equipment — both temporarily or on a long-term basis. Having in place contingency plans can save any company substantial expenditures.

Copyright © 2011 The Nusqu Group. All Rights Reserved.

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May 19th, 2011 at 5:00 pm

Posted in Business

Online Safety Tips

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By Richard Okolo

With the growing number of Internet users logging on, often times people feel because they are sitting in front of a computer they are not susceptible to being a victim of “cyber-crime”. We have compiled some safety measures to bare in mind when surfing the web:

1. Keep your personal information private (e.g. your name, phone number, address, passwords and social security or credit card numbers). Never share this information with anyone. Remember, if you receive an email asking for your information, don’t give it out. Legitimate businesses never ask for personal information via email.

2. Join children as they surf the Internet. This will allow you to see what they are doing and with whom. Monitor their chat buddies and ask them if they know them personally. Install internet monitoring software to keep records of what children may be doing online when you are away. NEVER agree to let children meet someone in person who they have met online.

3. Keep the computer your child uses in a central location. That way they are always within view of you and this allows greater accessibility to monitor their internet surfing.

4. Don’t share photos of yourself with strangers. This should be stressed especially to children. Maintain your anonymity at all times. Often, instant messaging tools allow for pictures to displayed. Never put up personal pictures of any kind as they can be saved by those whom you chat with.

5. Install anti-virus and spyware/adware software on your computer and use a firewall. Hackers can gain access to personal and/or important information, so make sure that you protect your PC by installing and updating security programs for your computer.

6. Remember, not everyone on the web is who they say they are. Unfortunately, some people log on to the web only to do harm to others. Use your common sense and only correspond with your friends and/or family. If you suspect someone is not who they say they are, cut off all interaction with them promptly.

Copyright © 2011 The Nusqu Group. All Rights Reserved.

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May 9th, 2011 at 5:00 pm

Posted in Technology

Safe Removal Of Important Information

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By Richard Okolo


Ever wonder if when you delete something that it is actually gone? Most people think that just deleting a file on their computer is sufficient enough to be rid of the file. If this is what you thought, think again.

Deleting a file does not remove it from the hard drive and it still can be recovered. Individuals with advanced computer knowledge can retrieve the file(s) and extract information.

Many individuals and businesses are not taking the proper precautions to avoid file retrieval. Often computers donated to charities have large amounts of data still on them which can be accessed (even if deleted). Credit card numbers, banking and financial records, intellectual property, and pornography are just some of the items that have been recovered from donated PC’s.

One way to wipe files off of your computer is to overwrite them. This process “ensures” that the file is no longer accessible. However, there is no guarantee with this method. There are software applications which are able to do this for you.

Another way is to reformat your computer. This will clean your PC and allow for a fresh operating system to be in place. This may or may not work for all deleted files and should be used in conjunction with overwriting software (as mentioned previously).

Another method involves actually destroying the hard drive. This can be done by removing the hard drive form the computer and smashing it apart. Although the hard drive will need to be replaced (if the PC is to used again), the good thing is that information cannot be extracted.

Overwriting computers should be handled by an outside company to prevent conflict of interest (e.g. internal espionage). The best method is to completely destroy the computer and either purchase and/or lease new PC(s).

Copyright © 2011 The Nusqu Group. All Rights Reserved.

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April 29th, 2011 at 5:00 pm

Posted in Business,Technology

Identity Theft Protection

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By Richard Okolo

As we have moved into the “information age”, we have available to us almost anything we need to access on ourselves. Technology has made it a simple process to obtain our personal information quickly and efficiently. But as with every convenience, there are consequences as well. One of the big issues facing consumes today is identity theft.

Identity theft is when personal and confidential information is stolen. This information is then used by criminals to access bank records, apply for credit, transfer funds, and even assume the identity of the person(s) victimized. We offer some steps to help assist in limiting your chance(s) of becoming another identity theft statistic. Some of these include:

1. Make a habit of shredding all important financial and confidential documents when they are no longer needed.

2. Monitor all of your financial statements meticulously and report any discrepancies immediately.

3. Become familiar with the regular billing dates of specific transactions and follow up on notices which are not correct.

4. Be extremely careful using your PIN number at debit card machines and payment centers.

5. Carry only the credit card(s) that you need; store other(s) in a secure location.

6. Use a locking mailbox (if needed) to have your bill payments sent to.

7. Never carry your birth certificate, passport and social security and/or social insurance card(s) with you. Keep these documents in a safe deposit box.

8. Never leave a paper trail; keep all credit card, ATM, gas and retail receipts in a safe secure place.

9. Be very defensive with your personal information. (e.g. If any information is requested, verify that the person and/or company asking really needs it before providing it to them. Also, ensure that you know who is asking and for what reason(s). Be on guard against anyone who asks for such information.)

10. Obtain and thoroughly review your credit report regularly. If you notice anything unusual, contact the proper companies immediately.

Copyright © 2011 The Nusqu Group. All Rights Reserved.

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April 9th, 2011 at 5:00 pm

Posted in Technology

Can You Sell Yourself?

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By Richard Okolo


Throughout life, all of us will be required to present ourselves in a particular manner to individuals and groups alike. This is a lifelong process which can occur frequently and periodically. All of us have gone through some sort of interview process. Although the most common interview is for employment, there are various others such as:

• credit and/of loan application
• renting an apartment
• financing a car purchase or lease
• applying for credit (e.g. credit cards, line of credit, mortgage, etc)
• opening a bank account
• immigration status (e.g. student visa, green card, landed immigrant status)
• acceptance into an institution (e.g. private school, university, etc)
• auditions (e.g. ballet, theatre, talent agent, record company, etc)

Quite frequently, people are being screened to see whether they fit the standards that businesses and organizations have set in place. In order for individuals to adhere to their policies and regulations, they will have to sell themselves.

No what does selling yourself mean? Well, it means that people must be able to believe in what you have to offer. It is imperative that those seeing and listening to you are convinced that you are what you say you are. This is no easy process, but you can improve your chances of “being bought”. Here are some areas to consider:

Preparation

What are my strengths and what areas do I need improvement in?

This requires what we like to call “professional introspection”. You must be honest with yourself. You may be a great at planning and organizing, but lack the social aptitude to be an effective communicator. Try to clearly define what makes you great at what you do and what areas need more attention paid to.

Ask yourself if you are believable?

One of the great entrepreneurs of our time, Dave Thomas, was just this. Dave Thomas (1932-2002) is the founder of the Wendy’s fast food chain. Throughout the last two decades, many television commercials featured Dave in them. This was quite unusual since most corporations used actors or mascots as their main pitch people. Coincidentally, the long running Dave Thomas Campaign showcased Dave as a down-to earth, charismatic grandfather caricature. This persona gave people the impression that he was trustworthy and honest.

Dave turned himself into a celebrity. Various schools, universities and businesses alike asked him to speak at their functions. Dave Thomas was able to parlay his affable personality into a profitable marketing campaign for Wendy’s, making it one of America’s top fast food restaurants.

If you are able to make yourself believable, others will rarely question what you have to offer and take you at more than face value.

The Screening

Look the part. Make sure to dress appropriately. You should take heed to consider your target audience. Whenever you sell yourself, you appearance does matter. It is better to overdress that look too casual.

Be prepared. Be punctual for any meeting(s) you may have. By now, all the research and preparation should be done. You should now be ready to explain and ask about relevant areas related to what you are looking for.

Be conscious of body language. Give a firm handshake at any meeting(s) you have. Try to maintain eye contact and avoid staring. Display good posture and don’t forget to smile. These nonverbal actions show that you are genuine and sincere.

Display a winning attitude. You must exude confidence and determination. Having a positive mind frame and being upbeat will assist you tremendously. Others must be able to see that you have qualities which will produce desired results. Signs of self doubt and indecisiveness make one look unprepared. A can-do attitude is acceptable; this is what you want to display during the entire screening process (especially in face to face situations).

Ask questions. If you do not understand certain concepts, ask for clarification. People will be more that willing to give you answers to things you may not be clear about. This also shows you have a willingness to learn (a positive aspect of your repertoire).

These are just a few tips to enhance your appeal when you sell yourself.

Copyright © 2011 The Nusqu Group. All Rights Reserved.

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March 19th, 2011 at 5:00 pm

Posted in Business

Three Critical Managerial Skills

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By Richard Okolo


Managers in the business world must have a wide range of skills and attributes in order to effectively lead and delegate business objectives. The skill set list can be quite extensive, so we decided just to pinpoint three critical skills that managers need in order to thrive in any business environment. They are as follows:

I. Basic Job Skills.

To be successful, a manager must have a fundamental understanding of job skills on various levels. Background knowledge of elementary business principles is essential. Managers must understand fully the industry in which their company operates in. This includes knowing about your competitors and how to better service your customers. Possessing personnel skills is important for establishing your role as a leader. Your employees will only follow you as far as you can lead them. None of these skills require an extensive educational background or dozens of years of experience. It’s your managerial duty to fill in the gaps in any area which you lack and strengthen your weak links.

II. Secure With Changing Directives.

A second skill set critical to effective management involves life skills. Managers must be individuals who are secure within a wide range of circumstances.

As you may know, an effective business is a constantly changing environment. Methodologies that work today may not be suitable for tomorrow. With this, effective managers must be able to cope with change and make adjustments on both personal and professional levels. This includes a strong ability to deal with problems at a conceptual level. At any given time, business will present ambiguous problems requiring solutions from management. Finding solutions to problems and overcoming obstacles is essential. Managers who learn to cope during changes in business will thrive and find success.

III. Strong Character Traits.

The last set of traits necessary for a manager is a well-developed sense of character. There are several key character traits that lead to strong and efficient leadership in a managerial role.

Knowing who you are creates a sense of consistency in dealing with business issues. This includes clear examination of your strengths and weaknesses in a organization. A selfless attitude towards your personal desires and the ones of your organization is an important trait as well. Although a healthy ego can help, the best managers are humble individuals who freely give praise and credit to those who deserve it. Integrity and pride in your job are character traits that support leadership. Put these skills together as a package and you’ll thrive in any environment.

Copyright © 2011 The Nusqu Group. All Rights Reserved.

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March 9th, 2011 at 5:00 pm

Posted in Business

Adding Business Value For Profitability

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By Richard Okolo


Do you seem to notice that your customers are more focused on the price rather than the value? Has your business ever lost an account and your not quite sure why? Perhaps the answer is that your customers did not see that value that you add.

One of the most vital aspects of business today is how does your organization show and demonstrate the value added by your products and/or services to your consumers. The dollar value is the measure! Whatever your firm does to make your clients more profitable is the value added. Most customers do not know how to quantify the value you’re adding; therefore you must do it for them.

The reason dollar value is the measure for value is because your clients have to be able to differentiate between your value-added package(s) and those of your competitors. A company that can show the value they add significantly gains a competitive advantage. The great thing is that there will be clients willing to pay a premium for your value-added products and/or services.

Measuring The Value Your Firms Adds

There are three steps in measuring the value your firm adds;

  • Identifying the value your company has already provided and/or can provide
  • Determining how the value impacts your customer(s)
  • Measuring the impact of the value on your customer(s) profit margin

There must be a unique selling proposition (USP). This proposition is based on your ability to improve your customers net income.

The next thing is that you must sell your customers a profit improvement proposal. In it, you are offering a guarantee of value instead of just stating it.

There are four areas to consider when creating a profit improvement proposal

  • Price; At what cost will the value be added
  • Added Value; How much value will be added
  • Performance; Will the value added allow for long-term viability
  • Client compatibility; How well does the value meet your client’s goals and objectives

The Competitive Advantage

A profit improvement proposal has the ability to provide your firm with a competitive advantage for the following reasons:

  • Most firms cannot show the value they provide; especially if the customer does not either expect and/or ask for it.
  • Most customers cannot measure the total cost savings your value will provide. By being able to show them the positive impact of their investment, management can now incorporate this into their goals and objectives.
  • You can use the profit improvement proposal and the subsequent results to show to other potential clients. If others can see how you have added value to prior clients, they more than likely will want to conduct business with your firm.

Conclusion

Remember, adding value to any firm is a business decision with requires diligence and in-depth analysis. The bottom line is to create ways for your clients to gain more profitability by maximizing output and minimizing costs. Most importantly, make sure your clients see the value that your company will add.

Copyright © 2011 The Nusqu Group. All Rights Reserved.

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February 9th, 2011 at 5:00 pm

Posted in Business

Update Your Business Plan

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By Richard Okolo


Now that the past year has gone, this new year would be a good time to update your business plan. Many small businesses prepare a business plan at their date of formation and never seek to update their plan. What would be the reason to update your plan?

There are numerous business planning objectives that should be addressed on a regular basis (preferably done on a annual basis). Some of them may include:

Customer focus changes. These should be incorporated (especially if they were not previously). This may include changing your customer support and/or offering new services to expand your business among the marketplace.

Technology changes. These often cannot be encompassed properly in advance. Revise your company’s technological needs (e.g. software and computer upgrades). Also, your customers may demand new or upgraded technological requirements from your business. Be ready to address this area often as technology changes very quickly.

Financial circumstances. These change frequently and must be reevaluated. Is your company growing and needing new equipment? Are you looking at hiring more people for an expanding business? Assessing your financial requirements periodically will greatly help your “bottom line” in a positive way.

In short, proper business planning often provides an effective roadmap for running a business. Make this a regular exercise.

Copyright © 2011 The Nusqu Group. All Rights Reserved.

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January 21st, 2011 at 5:00 pm

Posted in Business

Building A Winning Team

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By Richard Okolo

“Sooner or later, false thinking brings wrong conduct.”
Julian Huxley

Quite often in business companies presume they will succeed based solely on what they offer and not whom they employ. To create a winning team in your firm you need to create a professional, cohesive working environment which maximizes the skills and talents of your employees. Here are a few ways to achieve this.

1. Invest In All-Stars

Great teams are built on the best talent. This philosophy extends to all professions and organizations. As a manager, you must adopt this ideal thoroughly. By selecting and recruiting the best talent that is out there, you ensure that your company always remains competitive.

Think about this. Have you ever wondered to yourself why Microsoft is one of the most successful companies in the history of business? It’s because Microsoft is always on the lookout for new talent no matter where it’s located. Rumor has is that Chairman Bill Gates personally visits the University Of Waterloo in Canada and offers it’s computer science graduates jobs. Microsoft is one of the few Fortune 500 companies that have 14 year olds on its payroll! Microsoft is not afraid or apprehensive in taking risks to employ new talent. This is the route you as a manager should take when assembling your all-star team.

Talented individuals are very rare and hard to find. Sometimes when you do find them it’s hard to get them on your team. Therefore, hiring managers must take into account the skills and talents of a potential employee and not any other characteristics that they may have which do not bear on their job function.

2. Professional At All Times – Your Reputation Counts

“The most destructive force in the universe is gossip.”
Dave Barry

I cannot stress how important it is for any business to have exceptional rapport with their customers and the community at large. Your business is mostly what others see. Who works for you dictates how well your firm will do. Therefore, you must create a professional business atmosphere at all times.

The first person this usually starts with is your secretary and/or any person who handles direct business calls and inquiries for you. Many times I have visited a firm which has a person at the front desk who is rude and uninviting. More so, I have seen high level executives fail to greet business clients with a firm handshake and a sincere greeting. This type of behavior must be eliminated if you want your reputation to be favorable to both the public and private sector.

I will give you an example. Think about going to your favorite restaurant. The decor is exquisite. The waiter/waitress is pleasant and the table you are at is impeccably neat. Then you order your favorite dish and it looks absolutely delectable; except it’s served to you on a garbage can lid. Not the best way to present a meal is it? Think about how you would feel if that happened to you. That feeling you have is how others will feel about you if your business etiquette does not reflect professional exuberance.

Remember, people are very visual and what we see is usually what we remember. The last thing you want in a company is an employee who displays improper manners toward existing and potential clients. Remember, you never get a second chance to make a first impression.

Word of mouth advertising is the most cost effective and you can’t “afford” to have free advertising ruined by “bad apples” on the tree.

Make sure your firm implements training programs which teach professional business etiquette. Follow up these programs periodically. Perform quality assurance evaluations and screen calls to enforce your policies.

3. Practice Effective Management

“You cannot lead anyone else farther than you have gone yourself.”
Anonymous

The most valuable assets that exist in any company are your “human assets”. As a business owner, you must look at your employees as investments which need to be cultivated properly. As I stated earlier, you must invest in great employees but you also must correctly manage them for success.

According to Steve Muhlhauser, California Assistant Regional Administrator for Business Development for the U.S. Small Business Administration “Poor management is the greatest single cause of business failure” .*

Managing a business encompasses numerous activities which include planning, organizing, controlling, directing and communicating. Businesses fail mostly from ineffective management. Therefore, you must ensure that your leadership skills are effective.

It is imperative that a successful manager be a good leader. This includes being one who is persuasive, motivational, and able to direct in pressure situations. By being well rounded in various areas, you foster a work environment which maximizes productivity while directing your employees’ activities.

Quite often, your leadership style will reflect your own personality. However, keep in mind that what works with one individual or group may not work with the next. Good leadership requires a flexible approach that is based on the people involved and the situation(s) at hand.

Let me give you an example. Think about having a garden. What happens when your plants don’t receive enough water, sunlight, fertilizer, etc; nothing grows right? It’s the same way with your employees. If workers are not given the proper tools and support systems to perform, they too won’t grow. Make sure you nurture your human resources adequately and follow up periodically.

A cohesive workplace is one which fosters the unique skills of all its employees. When your employees thrive your “bottom line” will thrive also.

4. Communicate Clear Goals & Objectives

“Tell me I will forget; show me I may understand; involve me I will understand.”
Chinese Proverb

According to The U.S. Small Business Administration, about 90% of all small businesses fail within their first few years of operation. Although many factors exist which lead to Chapter 11, one major problem is the failure to communicate effectively in the workplace.

A friend once told me a very interesting story of a small company he once worked for in the high technology sector. When he was hired his job position was clearly defined along with what was expected of him. But as time went on, he was often shifted between tasks and not either shown what to do or told what was needed of him. The more time went on the less he saw himself working at what he was hired to do. Along with this, all the employees at his firm were frequently paid late due to financial problems. Surprisingly, management never explained to their employees what was going on. He eventually quit and a couple of months later that company went out of business.

Never allow your firm to suffer from lack of effective communication. Always inform our employees of any changes that may impact their jobs. If something is required of them, inform them politely and periodically reinforce your directives. Most importantly, allow for feedback and encourage open communication forums. Having worked in various companies with all types of people, I know how important different constructive viewpoints are to any firm. If no new ideas are introduced into a company, monotony sets in and stagnant results often occur.

If problems do exist within the structure of the company that you should tell your subordinates about, do so! Company morale and loyalty is greatly enhanced when a firm is honest and fair with its employees.

5. Hire People Smarter Than Yourself

This is probably the most important point of the five because it often requires one to put aside their own indifferences and focus solely on the individual employee at hand.

Back to Bill Gates (he is a great reference point). He dropped out of university and at 19 started his company. How did he make his firm so successful? By hiring people smarter and more skilled than himself!

As part of our human nature, we tend to shy away from people we see as more intelligent and skilled than ourselves. This is often because we see those individuals as threats to our egos rather than assets to our growth and success. To be a successful manager you must divert away from this type of thinking.

I have often seen brilliant people go for job interviews and not get the job because they were too “qualified or knowledgeable”. Many companies have individuals that bring their own personal insecurities into the workplace. Don’t let yours be one of them.

By hiring individuals more talented than yourself, you actually show that you are the “smart one”. That’s because you realize that your company will become much easier to operate.

Those “smart” people working for you will create a more cost effective work environment. Now you look like a genius because of the genius minds doing more of your work for you. This often leads to greater profits and exponential net growth. Smart folks make smart business.

Lastly, when you surround yourself with these “smart” people learn to delegate. Keep these points in mind as you delegate:

- Be confident of what your employees are doing and have faith in their competency to perform.

- Empower them to make decisions from time to time.

- Be sure you know just enough to stay on top of things. Don’t sweat the small stuff.

But most importantly, trust and respect your employees. Then and only will they trust and respect you.

“A wise man will make more opportunities than he finds.”
Francis Bacon

*From The U.S. Small Business Administration – Business Development Success Series Vol. 11 May 13, 1996

http://www.sba.gov/gopher/Business-Development/Success-Series/Vol1/Win1/win16.txt

Copyright © 2011 The Nusqu Group. All Rights Reserved.

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Written by admin

January 15th, 2011 at 3:00 pm

Posted in Business

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