|
|
|
Entrepreneurship: What does it REALLY mean?
Introduction:
In a world where ideas drive economies, it is no wonder that innovation and entrepreneurship are often seen as inseparable bedfellows. The governments around the world are starting to realize that in order to sustain progress...
How to Cut Duty Cost and Increase Profit as an Importer
Import duties continue to be significant elements in the cost of international trade. Yet many companies and businesses still pay more duties than the law requires – which impacts adversely on landed cost and ultimately on business...
Part 1 of 5 - How "Pipe Dreams" Can Become Realities!
Take a look at yourself - inside and out. Where do you live what job do you have, how do you relate to your friends and family? What interests do you pursue, what adventures do you have? What do you truly want from life? Do you want wealth...
"Planning" To Make a Decision?
The longer I've been around companies the more I believe the words "Planning" and "Decision" are seldom used in the same sentence! And the business fallout because of poor planning when making decisions is staggering.
The effects of a...
Use Magnetic Gift Cards To Skyrocket Restaurant Sales and Profits
Gift Card and Gift Certificate Management Software
The History of Gift Cards
Whoever created the idea of gift certificates was a marketing
genius. The idea of taking someones money (which is valid
anywhere) and giving them a...
|
|
| |
|
|
|
|
|
|
Increase your sales by 30% using internet collaboration networks
Small businesses are really excluded from the global economy
Small businesses from many different industries, both traditional and hi-tech, have discovered a new way for them to succeed in the "global economy".
It involves collaboration on large proposals, R&D and fulfilment of orders assisted by relatively low cost, virtual collaboration technology.
Traditionally many small businesses join supply chains centred on larger companies.
Unfortunately the companies at the bottom of such supply chains are often treated as commodity players and replaced with cheaper alternatives when the opportunity arises.
Some brave small businesses have attempted to "go it alone" by creating sophisticated internet e-business architectures which directly link them to their major customers and partners.
However the expense, risk and sheer management effort involved in this approach puts it beyond the reach of most.
Virtual Enterprise Networks (aka VENs) give small businesses scale
The "third way" which companies are discovering is to join "Virtual Enterprise Networks" or VENs with other like-minded but complimentary businesses to market, sell and deliver collective offers to the market beyond what the individual companies could offer by themselves.
In addition these VENs are also undertaking significant collaborative product development work, often in partnership with applied research institutes and universities, which would be beyond the reach of the member companies individually.
For example, a group of UK Engineering companies are using the VEN approach to collectively bid for many-million pounds of work per annum from a large European Customer. Like many corporates this customer has a supply chain rationalisation (aka small supplier reduction) programme which would stop them dealing with any of the companies individually.
Another example is a group of Swiss component manufacturers who used VENs to move up the value chain away from contract-specific components to branded product solutions in the face of stern cost-based competition from Czechoslovakian companies exporting into their home market.
A third example is a group of Mexican manufacturers who used a VEN to support their entry into a new, more sophisticated market (the US).
So what exactly is the "Value Proposition" for a VEN?
A VEN connects businesses into peer networks that are supported by appropriate technology to give them the capabilities and competitive advantages of global enterprises particularly:
·SALES
·MARKETING REACH
·PRODUCT DEVELOPMENT
·HUMAN, CAPITAL & IT RESOURCES
Whilst exploiting their inherent competitive advantages in being able to be more agile in areas such as:
·SPEED & RESPONSIVENESS
·ENTREPRENEURSHIP & INNOVATION
·FLEXIBILITY
·LOW OVERHEADS
So what are the critical factors for making a VEN a success?
All the experience points to four main ones:
CSF1. Not over-complicating the technology support!
The surprising thing about virtual enterprise networks is that the technology support companies need to get started and win collective new business is neither complex nor costly.
When companies are starting to collaborate all they really need is a simple web-based collaboration platform which they can access from their companies (whilst travelling) which allows them to securely communicate, schedule, discuss and work on shared documents.
Typically numerous suppliers offer such software as a hosted, pay-per-use service, which requires no software, installed at any of the client PCs.
Companies operating in a network also need access to good shared business applications such as campaign management/CRM - these applications must be web-based as networks of small companies do not have shared IT infrastructures.
CSF2. Taking "Network Governance" Seriously
The biggest concern a customer will have in dealing with a network is who is accountable when things go wrong (and can I sue them if it has to come to that!).
Also customers want to treat the network like a single entity not like a collection of different companies. Thus they need to see single point of contact, seamless business processes and common values from a network.
This can all be grouped together under the term "Network Governance".
Networks, which do not invest in building this typically unravel in their first sales pitch to any large customer once the customer's procurement department starts asking probing questions.
"Marriage of Convenience networks" rarely win collective contract work from major organisations.
CSF3. Development of Common Collaborative Working Practices
A virtual enterprise network is a virtual team. However it is made up of individuals from many different organisations with different ambitions, IT awareness, business cultures many of whom do not know each other well.
It is therefore a classic Virtually Networked Team and as such needs to agree the way these people will work together, make decisions, handle conflicts, share information and use the virtual collaboration technology.
An aspect of VENs which seem to differentiate them from other forms of networking is the willingness of the members to invest in the development of these shared working practices.
Without such practices it is unlikely that trust will grow in the network to the extent necessary to achieve anything significant.
The first conflict that happens will probably destroy the network.
Strange as it may seem it is sometimes the appearance of the first good business opportunity that destroys a network as members revert to non-collaborative styles with the smell of the money!
CSF4. "ABC" Roles
The most successful virtual enterprise networks are based around 3 key roles, which can be remembered using "ABC".
"A" is for the Architect who knows what the network of companies can (and cannot) deliver. The Architect is also responsible for finding companies to fill gaps in the virtual supply networks needed to deliver specific customer opportunities.
"B" is for the Broker who sources potential customer opportunities for the network and then works closely with the Architect to qualify them and configure the right virtual teams to bid.
"C" is for the Coach who works with the individuals in the different companies to build trust, design accountability structures, resolve issues, address conflicts of interest and build them into effective cross-company teams.
I am sold - how can I get started?
Click on this link to access "A 6-week plan for setting up a Virtual Enterprise Network"
http://www.bioteams.com/2005/07/24/a_kick-start_plan.html
About the Author
Ken Thompson's shared know-how on the "how-to" of virtual collaboration and successful bioteaming is available free on http://www.bioteams.com
|
|
|
|
|
| SellingPower.com | Solutions For Sales Management |
| Targeted to sales managers and upper tier sales professionals, this magazine helps you train, educate, and motivate your sales team. |
| www.sellingpower.com |
|
| Journal of Personal Selling & Sales Management |
| The official web site of the Journal of Personal Selling & Sales Management has moved to the University of Missouri, Columbia, which is the home of the ... |
| mkt.cba.cmich.edu |
|
| Management Articles |
| Sales Management. Unleash Your Brand Ambassadors. A recent GlaxoSmithKline decision took the advertising industry by storm: The pharmaceutical giant ... |
| gmj.gallup.com |
|
| Manage Smarter - Performance Gateway |
| Manage Smarter is the online home of sales & marketing management, incentive, potential, presentations and training magazine. |
| www.salesandmarketing.com |
|
| The 5 Biggest Sales Management Blunders |
| Learn the biggest sales management blunders and how you can avoid them. Spending the necessary time wearing your sales manager hat will help foster a ... |
| sbinformation.about.com |
|
| DEI Sales Management |
| Stephan Schiffman's DEI- Management Group, offers sales training tools and educational forums designed to teach: Cold Calling and Closing Techniques, ... |
| www.dei-sales.com |
|
| Sales Management Training - Selling Seminars - Reinforcement & ROI ... |
| Offers sales and sales management training. Sign up to receive the monthly newsletter. |
| www.brooksgroup.com |
|
| Sales Management Resource International |
| Sales Management services, sales training, sales solutions, sales people. We provide a systematic approach to providing immediate sales results ... |
| www.salesmanagement.com.au |
|
| Reconnect Sales Management to Profitability - HBS Working Knowledge |
| "Work your pay plan" is one of the central tenets of sales management. ... In a similar way, top managers can reconnect their sales management to ... |
| hbswk.hbs.edu |
|
| Amazon.com: Sales Management: Books: Robert J. Calvin |
| Amazon.com: Sales Management: Books: Robert J. Calvin by Robert J. Calvin. |
| www.amazon.com |
|
| Amazon.com: Seven Secrets to Successful Sales Management: The ... |
| Amazon.com: Seven Secrets to Successful Sales Management: The Sales Manager's Manual: Books: Jack D. Wilner by Jack D. Wilner. |
| www.amazon.com |
|
| Personal Selling and Sales Management: KnowThis.com |
| KnowThis,com offers information, resources, reference and links for sales people, sales managers and other involved in managing a sales force including ... |
| www.knowthis.com |
|
| Sales Training and Sales Management: KnowThis.com |
| KnowThis.com offers information, resources, reference and links for anyone involved in sales training or sales management or other managing issues involving ... |
| www.knowthis.com |
|
| SMR Career Services |
| Sales Management Resources is a professional executive search company, dedicated to providing consumer products companies the recruitment of exceptional ... |
| www.smrcareer.com |
|
| SalesVantage.com: B2B Advertising, Marketing and Sales Management ... |
| B2B Advertising, Marketing and Sales Management Directory, Newsfeed & Business Referral Service designed for sales, marketing & advertising executives. |
| www.salesvantage.com |
|
| Contact Management Software, Contact Manager & Sales Software for ... |
| PC World Gives Prophet Contact & Sales Manager 4 Stars · eWeek praises Prophet for building a sales management solution into Outlook for a reasonable price ... |
| www.avidian.com |
|
| Sales Management- 7 Secrets to Successful Sales Management, the ... |
| 7 Secrets to Successful Sales Management, written by, Jack Wilner, one of today's leading sales management trainers, coaches and consultants, ... |
| www.7salessecrets.com |
|
| Sales Management Training |
| Sales management training for the complex sale includes business development programs and sales training seminars. |
| www.primesalesmanagement.com |
|
| Contact Management Software (SFA) price quotes - Free sales ... |
| Contact management software buying advice and free sales management software quotes from leading suppliers. |
| www.buyerzone.com |
|
| Waterhouse Group - Sales Training Programs: Consultative, Value ... |
| With over 20 years of experience in sales, sales management and sales training, ... Selling Success: The Journal of Sales & Sales Management ... |
| www.waterhousegroup.com |
|
|