Wednesday, May 29, 2019

Selecting Your Research Pantheon!

Research teams can be complex and best ensuring that a research product succeeds is by staffing it with the right people that have the knowledge complete the work. I'm working on conducting a research project and have put together a team of interested scientists and professors. Each brought with them certain skills and a diverse background to ensure that their contribution is meaningful.

I put together a few ideas on how to select your research team. They are generic enough to apply to most situations.

1. Define Your Research, Objectives and Plans: Before you start putting your team together you should have a pretty good idea of what you want to do. Make sure that you have everything defined before moving forward.

2. Select Your Team on Skills: Your team will determine your potential success. Ensuring that you bring on board the right skills is essential. You may want to think in terms of experts in the field, familiarity with research design, people who can help create practical outcomes, etc....

3. Create Timeline and Plan: Having milestones and timelines helps to keep people on track. It is helpful for people to know when deliverable are due. Just make sure you build in some spare time in case there is an unexpected delay.

4. Designate Tasks: To complete your timelines and time-frames you need to apply the skills specifically. Therefore, put people on the teams and tasks they can do well.

5. Regular Check-Ins and Follow Ups: It is helpful to have check-ins to ensure that you are meting your deadline. Allowing each person to go around and discuss what they are working on helps to keep everyone else informed.

Sunday, May 26, 2019

Giving Back to Kids-Keeping Orphanages Supplied

Yesterday I had the opportunity to go down to the orphanages and bring some needed supplies. One of the things they need is cleaning stuff, toilet paper, and other items that are more mundane. Most people want to buy food or bring used clothing but in many cases they need other things such as cleaning supplies, new soccer shoes, and other items. At the present time I'm focused more on providing shoes for their soccer team as well as ensuring they have the basic supplies they need.

When you frequent these orphanages on a regular basis you come to realize that these kids have needs for love, affection, and a relationship. They begin to remember you and know your name. They grab your hands and walk with you to tell you something about their lives. They want to feel special!

That is one of the reasons why I want to spend some time working with them. They are pliable human beings that allow my activities to make a difference. One kind word, a few resources, and some encouragement and these kids can do some amazing things. We set them up for a better life their parents could not provide.

Of course my dog Chewy loved the attention as well. :)πŸ’“πŸΆπŸ•πŸΆ

If you want to contribute to basic supplies or items such as soccer shoes send me your donation and I can spend when I go down. We have jerseys but no shoes for the soccer team...so this is on my mind.  PayPal muradabel@gmail.com  Venmo Murad Abel @muradabel

Please remember that my personal information is only for direct supplies, food, etc....

You may be more interested in donating to a sustained 401K that has been around for 26 years. They do a great job. If you would like to donate for the general need to sustain life through Corazon De Vida which is a U.S. based non-profit. https://www.classy.org/fundraiser/1984592

These kids need a ton of supplies.


Monday, May 20, 2019

4 Tips on Marketing in the Wine Industry

Dr. Murad Abel
Marketing is an essential down to earth need of any successful business. Whether you actively marketing on social media or you provide great customer service for referrals you will inevitably need to keep people interested in your product. In the wine industry marketing takes a unique turn as businesses must blend image, atmosphere, service and quality to achieve their goals.

With a solid strategy and focused effort they can bring interest and excitement to their wine.

Spend some time in Baja or in Napa Valley and you will soon find luxurious wine mixed with beautiful environments. Wine enthusiasts from all over the world travel to the area to get their taste buds teased by the unique offerings of each winery.

Image: Each winery creates an image that makes statements about who they are, what they want to accomplish and what they hope to achieve. Successful images fit within the core wine demographic but still niche enough to attract high return customers.

Atmosphere: The atmosphere is what creates memories and returns. No one want to sit in a garage and drink wine out of a box. Providing the right atmosphere makes a big difference in the overall ability of people to get immersed in their environment to create the total experience.

Service: Service helps people to fell special. People don't spend money or buy things unless it is out of necessity or they will feel good about themselves. Service provides them with positive feelings and images of their worth within the business.

Quality: If you are going to spend your time traveling, vising wineries and savoring the flavors you do not want to be purchasing cheap dollar store wine. Make sure your offerings are some of the best.

Saturday, May 11, 2019

How Entrepreneurs Find the Value of their Products

94th Aero Squadron
New entrepreneurs have a great product and a great idea! They next great widget is going to hit the market by store. There is a problem! They have nooooo idea what that product is worth! This is particularly true with new product launches and unique products. The value is dependent on its market and to best improve your chances of launch success you would be best served by knowing how to find a value.

A product priced too high might fail just after launch and not be able to gain momentum with consumers. A price that is too low might generate a lot of sales but could end up damaging the long-term brand image of the company. Low quality and value is not something most companies want to be seen as.

Below are three methods you could use. They may be modified based on the individual circumstances and factors associated with the market.

Cost Method: The method of cost plus some safe margin. You should figure out what you need to break even and then what you need to make a reasonable return on investment. At this point you know what number is the bench line where above means you are doing better than expected and a little below means the product has ties up capital.

Perceived Value: Consumers may see different value based on their product. Typically they make some type of mental comparison and then determine what they would be willing to pay for that product. Sampling consumer price points can be helpful in determining what the wider market would be willing to pay.

Market Comparison: It is beneficial to compare your product and its features to similar products in the market to determine its competitive place. Depending on which strategy you plan on using, the market average becomes a type of benchmark. Know how your product's features line up against competitors.

Wednesday, May 1, 2019

The 4 Ps of B2B Marketing

The 4 P's of Marketing helps us view and review a company's offering to determine if it is within the most advantageous position. The P's are simple but helpful in gaining a greater understanding of what the market is willing to buy and at what prices. If you are a small business owner and you desire to skip over the 4P's you should beware. It is your money and your time to lose if you over invest in a product no one wants and no one is willing to pay for!

To lower risks and improve opportunities for success company usually conduct analysis before they jump all in on a product. They must know which product they are going to sell, the price they are going to sell, how they are going to promote it, and where their product fits into the market. We can say they are evaluating the "4 P's of Marketing".

The 4 P's apply to Business-to-Business sales as much as they do in retail. There are some differences in the volume, amounts, services, and competitors. With B2B relationships there is a longer commitment and contracts that ensure both parties are protected. Interactions are much more personalized as people develop individual relationships with businesses.

Product: Products are the center of the marketing approach. Some products are physical and some are intellectually based. Services are also products that can be sold traded and bartered. In B2B transactions the product warranties, stocking ease, just in time delivery, etc... are part of the product offering. They are purchased together to raise the value of the supplier.

Price: The price is found through evaluating the total product and its offerings against competitive products. If such products are not found the business will need to find a utility cost above and beyond the cost of manufacturing. When the perceived value of the product doesn't meet the company's profit potential the product is taken off of the market.

Promotion: If no one knows about your product you are unlikely to get many sales. Advertising gets your voice heard in a sea of competing messages. B2B sales are more focused and intense because there are greater amounts of money and longer-term established relationships. The way in which you find candidates will also vary from phone calls and cold calling.

Place: Place can be viewed as physical in nature, such as a place on a store shelf or a place of a store, but includes position within the market.  Where your product is located in comparison to its competitors is helpful in determining which type of clients offer the greatest prospects for marketing efforts.