Business Traning Slideshow – Mistakes Made In Managing Sales People and Sales Forces

Here are three of the 10:
2.Complex compensation plans Sales people should know what they earn on every close
3.Confusing the terms “sales” and “marketing” Marketing people don’t hear “no” everyday
4.Bad sales management “Beating up” salespeople never works

Enter the USA Market – 10 Questions Come to Mind When Entering American Marketplaces

Quite frankly, these questions work when Americans wish to market overseas as well!

When firms enter the US market, several questions come immediately to mind. These are the first that arrive.

What is the mode of entry (MOE)? License? Direct sales? Distribution agreements? Joint venture? Web based? Acquisition? All of these have various pros and cons. It is helpful to understand the MOE so that a budget can be properly prepared.

What is the budget? There are several ways to arrive at a budget. The first is usually to determine a firm’s goals and objectives, strategy, MOE and then understand the costs. Many firms do not do this, however. Many firms take a dollar amount, and “throw it at the market.” This is common with market research activities.

If your MOE is sales, (either direct or through some type of reseller) how will you find, train, motivate, compensate and support the network? The sad expression used is “once distribution is won, the deal is done.” Nothing could be farther from the truth. “Distribution” whether through reps or companies, must constantly be supported.
How will you support your sales? Will you consign free inventory? Will you translate and localize your marketing? Will you be doing advertising, public relations and web based marketing?

Do you have an understanding of the marketing oriented culture that the USA holds dear? Have you witnessed the American media machine that Americans love?

Have you seen the impact of Social Media on American business?

If your firm is European or Asian, is that an advantage or a disadvantage? If it is an advantage, can we use the advantage in marketing?

What is your story? Why is it different? Why is it better? Why do we need to know your story?

Who is the client, what is his problem, what is your solution, and why is it better?

Are you using an International Strategy or an American Strategy?

How will you measure success or failure?

10 Questions for Foreign Firms Wishing to Enter the USA 3D Printing Market

These are questions for foreign companies or, really, any other firms. See International Business Videos online.

international business

Global Business Video Advice – Should Companies Use Importers in International Trade?

One minute vignettes about International Business Strategies and International Marketing Efforts. This video discusses if a company should use an importer. Do Importers make sense in global business?

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http://www.linkedin.com/in/billdecker

https://twitter.com/billdecker

Latest Article on Bitcoins in International Transactions

Wednesday, June 25, 2014, 5:36am MDT, reprinted with permission from the Denver Business Journal

Strategies: Bitcoin and other crypto-currencies and the international payments dilemma
Bill Decker

There is a rage about the “para currencies” (known as crypto currencies) that have developed and their impact on business. Bitcoin is the newsworthy currency, and much controversy surrounds this payment option. Other major players include Namecoin, Litecoin, Dogecoin, Peercoin and Mastercoin.

Crypto-currencies work with one main ingredient: faith. Users of Bitcoin, for example, download the app (Bitcoin Wallet) and purchase the virtual currency online. There are numerous exchanges for people to buy and sell this currency. The transactions are ostensibly secure and encrypted. This enables a user to trade currency through an exchange, or make purchases online with any merchant that will accept Bitcoin. The user may or may not know the buyer of the currency. All the information is kept in an available digital ledger, which handles clearing and settlement of transactions.

Thus, the buyers or merchant that accepts Bitcoins could be a legitimate business, or a drug dealer. One might never know.

Because the currency is virtual and not backed by a name-brand bank or government, it is inherently controversial.

There are several virtual currencies already in existence. We have been using e-commerce for two decades. Companies such as PayPal take approved credit cards, but the user’s bank account resides in the cloud. Only recently has PayPal issued physical credit cards. And because PayPal resides in the United States, the company must share all information with the government. But one PayPal bank account can be used to make purchases from other PayPal account holders. It becomes difficult to track purchases when virtual accounts pay virtual accounts.

Before PayPal, however, stores and companies were using virtual currency with gift cards. This was a faith-based system as well. When holding a gift card, we are betting that the store will be around when we wish to use it. However, many of us have gift cards for stores that have since gone out of business.

Europe has been using stored-value telephone cards for decades. In the United States, we often purchase calling cards as well. We hand over the funds and have an allotment of minutes that can be used only after we have paid.

Frequent-flyer miles are also a virtual currency. Again, many of us have held mileage awards only to find out that the airline went bankrupt, the miles had a time limit, or the number of miles needed for a given trip has changed. Are air miles taxable? What happens when we sell them? If we work for a firm and accumulate the miles from business trips, who owns them: the traveler or the company the traveler works for?

The U.S. dollar relies on a faith-based system as well. There was a time when one could take a dollar, walk into a bank and exchange it for gold or silver. Those times have ended and we take a leap of faith that the United States will back those dollars. But how often do we hear about the dollar depreciating or appreciating? And what is the dollar worth in France? The relative value of these currencies vary and firms without an International payment strategy can lose everything.

There are pros and cons with crypto-currencies. On the pro side, there is convenience. Desktop and mobile payments are made in seconds. It is far easier than going to a bank and having a letter of credit drawn.

Some other pros?

Lower transaction costs. It can cost several thousand dollars for some of the bank drafts and international payment mechanisms. Crypto-currencies offer a low cost of doing business.

Currency controls are bypassed. There are countries that are difficult to move money from. Crypto-currencies have no governmental controls.

These currencies can evade the tax man. If no government can really monitor these currencies, how can they tax the transaction?

However, for every pro there is a con. There are things to really worry about when using crypto-currencies: virtual is, by nature, scary.

The warning for business is that the recipients of funds are often unknown. This means that we can use a crypto-currencies to purchase a wristwatch and the currency can end up with drug dealers, terrorists, or in countries that can trigger a U.S. government inquiry.

There seems to be no real mechanism in place to make claims, or get refunds. Once the crypto-currencies are released from the buyer, he or she has little recourse.

Is the crypto-currency value stable? A quick Google search for Bitcoin shows that the value fluctuates. An entity receiving these currencies may take a loss.

What is the after market for crypto-currencies? How can you turn them into dollars or Euros? This is still somewhat unclear and left to the domain of various exchanges, none of which are regulated.

Will the use of crypto-currencies stand up to an audit? What other governments might harass you you when you use crypto-currencies?

As you can see, there are two sides of the Bitcoin.

Fun 3D Printing Video Cartoon – 3D Printing In Rural Areas and 3D Print Cop

Here is a fun video about 3D Printing to enjoy and have a quick laugh. See more at YouTube

3D Printing Cartoon About 3D Printing Industry Being Too Hectic

So the 3D Printing Page will help newbies, students and people not in the loop learn about 3d printing.

Bioprinting and 3D Printing – Will the FDA Regulate 3D Printing of Body Tissue and Body Parts?

Using 3D bioprinting for fabricating biological constructs typically involves dispensing cells onto a biocompatible scaffold using a successive layer-by-layer approach to generate tissue-like three-dimensional structures. Given that every tissue in the body is naturally compartmentalized of different cell types, many technologies for printing these cells vary in their ability to ensure stability and viability of the cells during the manufacturing process. Some of the methods that are used for 3D bioprinting of cells are photolithography, magnetic bioprinting, stereolithography, and cell extrusion.

An early-stage medical laboratory and research company, called Organovo, designs and develops functional, three-dimensional human tissue for medical research and therapeutic applications. The company utilizes its NovoGen MMX Bioprinter for 3D bioprinting. The printer is optimized to be able to print skin tissue, heart tissue, and blood vessels among other basic tissues. Organovo anticipates that the bioprinting of human tissues will accelerate the preclinical drug testing and discovery process, enabling treatments to be created more quickly and at lower cost. Additionally, Organovo has long-term expectations that this technology could be suitable for surgical therapy and transplantation. So far, they have signed research partnerships with various pharmaceutical companies, such as Pfizer, along with institutes such as Harvard Medical School.

3D-bioprinting attributes to significant advances in the medical field of tissue engineering by allowing for research to be done on innovative materials called biomaterials. Biomaterials are the materials adapted and used for printing three-dimensional objects. Some of the most notable are high-performance polymers and bioengineered substances that are usually stronger than the average bodily materials. These constituents can act as future substitutes, even improvements, for the original body materials. Alginate, for example, is an anionic polymer with many biomedical implications including feasibility, strong biocompatibility, low toxicity, and stronger structural ability in comparison to some of the body’s structural material

international business investment

International Business Advice – 5 Things to Consider About Foreign Investment in Your Firm

In International Business, three trends are coming together that make American companies look more and more at getting overseas investors: money is easier to move internationally, there is an abundance of new wealth coming from the third world, and there are scores of new intermediaries saying they are connected to this wealth. These intermediaries take the shape of brokers, investment bankers, P/E fund managers and management consultants. Opening your firm to foreign money also opens up many cans of worms. Suddenly your firm will be dealing with issues of culture, law, taxes and transaction costs. Make sure you have answers to these 5questions:
1. Will your other investors mind? Will your current investors care if more funds come from country X? Does country X help or hurt them financially, legally or psychologically? Getting your current investors’ permission might be necessary.

2. Will your overseas investors have access to your company’s trade secrets? Frequently, investors want to understand and potentially copy your intellectual property. It may be impossible to track the actual source of overseas money. Thus, some overseas investor could be connected to a real (or future) competitor. Investment dollars might come from a real (or future) client or vendor. Will they be able to access your “secret sauce” and do you mind if they do?

3. Do you understand how to deal with the investor’s culture? We are back to the No. 1 stumbling block in international business: the differences in culture. If your way of doing business is completely different than what your investors are accustomed to, then there may be potential conflict on the horizon. How will you deal with their views on risk, profit, law, ethics and management? How will they deal with yours? How much education and hand-holding will be necessary? How active will your investor be in running your business?

4. Do you realize it may take more time to deal with an overseas investor? The single biggest cultural difference is our perception of time. The overseas investor may be willing to invest, but not as quickly as your firm wishes. Investors are often known for showing high interest initially, and then stalling. In places like Asia and the Middle East, that syndrome is even more widespread.

5. Are there tax consequences to your company taking foreign money? Even if you completely and fully understand the U.S. tax ramifications, does country X’s tax practices agree with ours? Are you suddenly filling out a tax return for country X?

Few investors are in a rush, especially when investing overseas. While they are taking their time it’s an opportunity for your firm to take yours and do proper due diligence.

Fun 3D Printing Quick Video Show

3dprinting channel announces….funny video on 3d printing from 3dprintingindustry on Vimeo.

Enjoy!