Cutting-edge companies today are taking the old saying “the customer is always right” and putting a new twist on it. Instead of blindly stating that customers are always right in every possible situation, these companies instead are creating and adopting a customer-centric culture. In this kind of culture, all...
There are two main approaches your business can take when it comes to segmenting markets: You can either go deep or go wide. Going wide is sometimes referred to as a horizontal segmentation strategy, while going deep is sometimes referred to as a vertical segmentation strategy. An example of...
We’ve all heard the saying, “Don’t put all your eggs in one basket.” It is often quoted when discussing the importance of diversifying an investment portfolio so it isn’t vulnerable to wild price fluctuations by just one or a handful of stocks. This saying is also appropriate when it...
Wage and salary issues are at the forefront today for many business owners and entrepreneurs. Finding the right balance between paying wages that will help you attract and retain the best and brightest employees and still maintaining your company’s profitability is an ongoing challenge that shows no signs of...
Properly managing the human resources function is one of the biggest challenges for many Los Angeles and Southern California business owners and entrepreneurs. A business is only as strong as its employees: hiring the right employees and retaining them for the long term is one of the most important...
Almost all Los Angeles and Southern California business owners and entrepreneurs have at least one thing in common: they have lost a customer at some point in time. As much as businesses hate losing customers, 100 percent customer retention is pretty much impossible for most firms. Whether through their...
Most Los Angeles and Southern California business owners and entrepreneurs have heard of the concept of lean manufacturing, but many of those who own non-manufacturing businesses think that lean doesn’t apply to their companies. If this describes you, you should think again. The concepts that underlie lean manufacturing can be applied...
Many Los Angeles and Southern California business owners and entrepreneurs have identified employee motivation and retention as two of their top business concerns. Some have implemented a wide range of initiatives and programs designed to increase motivation, reduce turnover and boost retention — this includes everything from adopting more flexible...
Millennials have been getting a lot of attention lately. Loosely defined as those born between 1980 and 1999 — or in other words, those who are currently between 16 and 35 years old — the members of the millennial generation (also known as Generation Y) are probably the most...
Some Los Angeles and Southern California business owners and entrepreneurs have been through the process of an organizational turnaround. This topic is especially relevant right now as both the national and California economies begin to finally show some signs of life more than five years after the end (at...