Why Magnify Small Organizations Large Companies?

In the movie "You've Got Mail", the sub-plot aside from the love angle is that the heroine (played by Meg Ryan) was forced out of business when the big-time bookstore owner (played by Tom Hanks) moved into town.

Meg's character owned a quaint little bookstore which she inherited from her mother. Although the prices of her books were a little steep, she makes up for it in service. She packs the books in a specialized bag, and she knows all of her customers by name.

Tom's character, on the other hand, moved into town to build a branch of a big chain-bookstore which offered discounted prices and a huge building, as compared to Meg's little bookshop on one corner of the town's streets.

In the end, Meg was forced out of business because her customers went to Tom's monstrous bookshop.

Nowadays, this situation will not hold true anymore.

More and more small organizations are paving the way and giving big businesses a shot of their own medicine.

In the movie, the reason why Meg Ryan was forced out of business is because she cannot profit anymore. Her prices are steep as compared to the other big business' discounted rates.

Her only edge is that she gives personal service, she knows her customers by name and she has a very small staff, about 2 or 3 employees.

As a small organization you may turn around and have these qualities as your edge to compete against the big sharks in business.

Here are some tips on how you can hold your own against a big business:

1.

Small businesses have big competition

This means that you need to know how to survive out there.

No matter what nature of business you have, it is better to learn about the competition so that you will be able to survive.

Here are some tips on how you can survive the big competition:

>Keep your business alive

When it seems as if your cash flow is in a downward slope, keep a tight rein on your budget.

Do not spend on unnecessary business purchases and always balance your books.

If you are one to buy on impulse or if you are the type to listen to those who sweet-talk you into purchasing "necessary" items, control yourself.

Get a second and third opinion if possible, as these impulsive buys may lead to the end of your small organization.

> Do not be afraid to seek professional help

The fall of most small businesses start with decisions on problems which are not carefully analyzed.

Although you think that you already have a contingency plan, make sure that you have foreseen the results of a certain business decision.

In the long run, it is better to seek professional help rather than embark on a plan that could start the downfall of your business.

> Keep your books straight

The better option is for you to hire a professional outside accountant to figure the returns of your investment and handle the other financial aspects of your business.

> Take advantage of every free business counseling whenever available

This does not just help widen your knowledge, but it will also give you an idea of how other businesses are ran by small-scale owners.

> Know exactly where your business is headed

In your day-to-day operation, make sure that you know where you want your company to be 5 or 10 years from now.

Be always aware of the trends in the industry that you are in, practice good money management and learn how to recognize potential problems before they arise.

2.

Learn how to market your small organization

Marketing is not about trying to sell your products and services to everyone.

It is about knowing who to market your products to.

In marketing, it is good to remember these fast facts:

> Know about your customers

> Communicate with your customers

> Build a good and personalized relationship with your customers

This will be a great edge for you to have against the bigger companies.

They might offer discounted prices but it is harder for them to keep track of customers on a more personal basis.

> Do not stop the marketing process

As a small organization, you need to routinely review the markets that you need to pursue so that you can better reach out to your customers.

Remember, small organizations are big businesses these days so do not be afraid to work hard for the company that you have - not matter how small.

If you work hard, make wise business decisions, learn how to market your small business and personalize your customer interaction, your small-scale business is sure to rise to the top.

Seven Basic Tips for Wage Bargaining

Money is the most sensitive issue in the whole hiring process. Discussing the compensation often causes anxiety on both employee and employer. Here are seven ways to make the process of salary negotiating efficient.

1) Research: Before the interview process begins, contact the professional organization that represents your field of career. As soon as they provide you with your salary information, you can now examine your monthly cash requirements. Remember that once your taxes are added to your paycheck, approximately 30% of your gross monthly salary is deducted.

2) Determine your skills: You should understand that different segments of the economy require a variety of skills depending on the industry setting. Once you have established what your skills are and what they are worth to the current employment market, you would know the limitations of your negotiation.
Salary range information is available at American Almanac of Jobs and Salaries, National Association of College and Employers, Career Center, and professionals in your related field.
In stating your salary range, avoid basing your desired salary on your current salary. Always tell the truth when it comes to your past salary. It is acceptable to extend a range to approximately $6,000 to show that you are within the company’s price range but interested in more compensation.

3) Weigh the company’s compensation package: To determine your fair market value for a specific job, you should consider the economic, geographic, and industry factors of the job offer. Weigh the benefits of compensation and promotions, insurance, allowed time off and retirement settlements of the offer to ensure a fair proposed salary.

4) Sell yourself: If you know what you could offer the company requires a larger income, never say it directly. Once you sell yourself discreetly, the interviewer would understand that the proposed salary is not appropriate for your background.

5) Have a positive attitude: In negotiating, never compete. Negotiation is basically a process which could benefit both parties. Understand your needs and those of the company.

6) The final offer: Be aware when the negotiation is done. Pushing further when a deal has been set could give a negative first impression on your part.

7) Show what you are made of: The interview is only the first step in having an enhanced compensation. Once you are hired, offer your skills to the company and prove your worth by doing quality work. You may even get a promotion for doing so.

Based from a survey conducted by the Society for Human Resource Management, four out of five employees are willing to negotiate compensation. Understanding these basic tips will allow you to enhance the terms of your new job.