MyBBI - About the Journal Headings

Conceptually, a business can be viewed as two major components; the products and services which are the basis of the skillset that produces benefits for the businesses clients and all of the factors that comprise how that transaction is conducted. These factors include how the potential transaction is promoted to the market, the sum total of the interactions between the customer and the business and also between the business and the business staff and suppliers.

Looking at these components separately, the first deals with the quality of implementation of ones Professional Skills or Craft and the second deals with all of the factors that comprise the Transaction, or exchange of Values. Growth is a factor of both of these components, however if there is insufficient Transactions to support the business there will not be sufficient resources or time to improve implementation of the Craft. Therefore BBI.org focuses first on methods to improve Transactions to build the resources for all betterment.

There are Five Factors that can be used to measure transaction, and countless methods to influence these factors. Let us begin by looking at these and the Transaction formula they represent.

Five Factors of Business Transactions

Number of Leads times

Conversion Rate equals

CUSTOMERS times

Number of Transactions /Year times

Average $ Purchase / Sale equals

REVENUE times

Margin equals

PROFITS

Factors one through four are the results of Marketing and Management in terms of the effectiveness of the systems employed by the business. The Margin or the cost of doing business, also known as Bottom Line, is a function of business effectiveness.

Information & Education

In today's fast moving world it is becomming extremely more time consuming to keep current on what is new and worthwhile in your area of expertise. The Dynamic content that can be accessed by the Search tools contains the expertise that has been contributed by Professional Members. The best of this information will be crafted into Static pages that organize the information into sections that explain a topic from a variety of veiwpoints.

Hone your Professional Skills and Craft - Or Learn from Experts in other fields
Keeping ahead of the Learning curve – What's New!
Finding what New concepts are a fad or are destine to stand the scrutiny of time
Find out what companies really know and believe.

About Search Tools:

     Find Content Published by Experts in their fields - Articles, Editorials, How -To...
     Find Content from the Business Journal - Search by words or words not included
     Find a Business or Associations
     Find a Professional
     Information in BBI.org, ALB.org, All BBI Members Meta-sites

Marketing

Maintaining and Acquiring Clients is the lifeblood of any businesses. All clients, even ones that have purchased before are potential clients, until the next new order is placed. It is not only about getting the order, but building the relationship that increases the probability of receiving the next order.

There are several marketing proponents that advocate:

Flooding your name in front of the potential client several times a month
Confusing the offer with questionable promotional gimmicks
Being unclear about what is included and what is not included
Create a need, solve the need, take away the solution
– pitch & close

This type of process may make sales, but there may be a very high level of buyer's remorse and ill will.

BBI is predicated on the belief that - The best client is one that is a good match for your company.

They have read and understand what you can accomplish and how it will be accomplished
They have compared your Businesses approach and level of knowledge.
They understand the level of service and quality to expect (sometimes cheaper, simple is a better solution)
They have also reviewed your agreements and warrantees on your Member meta-site.
They appreciate that you have a discount program in place to reward their trust in allowing your Business to prove that it can meet its commitments.
And they are confident that your company provides a feedback form to inform Business owners of any dissatisfaction that needs to be remedied.
All a Business need to do, is to maintain the reality of the perception that they created, to maintain a solid relationship with the client.
Providing good service reduces the ongoing drain of responding to emergencies.

Conversion rates can be improved by:

Offering a discount to offset the work required to research a new supplier, or to reward a potential client for placing trust in a new company.
Having clear, written terms and warrantees.
Offering a no or low risk method to try a service and an easy method for the client to stop the service if it doesn't fit their needs.

Reduce any other resistance by:

Having multiple channels to contact the company, physical address, Toll Free, fax, email, online communications.
Displaying outside demonstrations of company quality, BBB, Chambers of Commerce, Professional affiliations
Increase the times a year that the client purchases

Make sure the clients needs have been met with each previous encounter.

Develop a periodic communications system – New Products & Services – tailor the information to their needs
Offer the client a tickler system to anticipate when they may need to check there stock, if appropriate
Increase the amount of each sale
Find what items/services the client purchases already, but maybe not from your Business
Inform the client of they could improve their Business by adding the use of a product or service that your Business supplies.
Final better financing to allow your client to purchase more each time on better terms.
Create a Method to get an Honest Client response on your produsts and services - use this to Better your fulfillment.

About Marketing Tools:

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      Share Your Knowledge & Expertise – Gain traffic
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      How To articles

Management

Management is the system that creates the interface between your Clients, Staff and the the quality of your Craft, and how the outside would actually perceives your company. The guidelines and systems that encompass management also must take info account Legalities, the health and well beings of all of your staff members that implement your Businesses' services and impact your Bottom Line.

It is an ever-changing symphony, that needs to be constantly revised to meet the requirements of today and anticipate the needs of tomorrow.

Bottom Line

Your companies Bottom Line or Gross Profit is the culmination of how well each of the other factors is accomplished. It is the improvement of ones Craft, the numbers of clients that are well serviced and good management, maintaining quality and efficiency that improves Bottom Line profits.

One of the easiest methods to improve this factor is to purchase the products and services your business needs from a company that has better pricing or service, which reduces your cost of doing business. Another method is by financing that may allow your business to finance equipment and supplies or to structure debt that it needs to grow.

Membership

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