1. Bundle a product offering. Bundling a product or service will increase your average order value, which in return increases profit. Fast food restaurant menus are a great example of this. 2. Features. Remove features from your product or service and offer them as an option. As a result, the overall gross price of the product will … Read more
There are several ways investors can put their money into private and public markets to help generate profits. There are many investment instruments like hedge funds, private equity, growth equity, and mergers and acquisitions. These all offer a good way for a company to raise capital with the hope of generating profits at the end. … Read more
Failed projects can cost a lot of money and, often worse, time. There are other costs as well: demoralized stakeholders and investors, disappointed managers and employees who worked on the project, and upset customers. A failed project can do damage to your company that can take years to fix. Many projects either fail to meet … Read more
Most meetings are dominated by a few big talkers who have a lot to say about everything. While they can be valuable contributors to your meetings, they can also silence some of your less confident team members. However, the quiet participants might have ideas that could contribute a lot to the meeting as well. To … Read more
Sometimes there’s no way around it. Sometimes the economic conditions make it urgent. Sometimes senior management is simply demanding efficiencies. Whatever the cause, when cuts and layoffs are inevitable, businesses, and the leaders within them, are much better off when they embrace cuts as a moment for creativity and innovation. In Japan, where monolithic corporations … Read more
Thinker and politician Niccolo Machiavelli ignited a 16th-century moral controversy when he condoned political murder in The Prince, his guide for the Italian noblemen that surrounded him. Of course, the murderous conduct of Renaissance noblemen is well behind us, but Machiavelli’s insights on human behavior remain relevant. His realistic, tough, but fair approach to leadership … Read more
Years ago, a successful career usually meant achieving upward mobility. Ambitious employees climbed the corporate ladder to reach management positions. Today, fulfilling career paths run in many different directions, and fewer employees spend their entire careers at one company. However, some things stay the same. Most workers still value career growth even more than salary … Read more
Great leaders share many common traits. Though criteria for leadership in the workplace can vary from company to company, the majority of effective leaders exemplify certain skills. By focusing on developing these same skills, you can take your leadership abilities to the next level. Develop the important traits necessary to become a great leader: 1. … Read more