A couple of days ago, my son took a practice SAT. He's always been an Honor Student (at least for the last few years) with an A/B average in all of his subjects. Sometimes he slides in English, but we always thought that was because of his lack of interest rather than a lack of ability.His scores on the verbal section were low, and his scores in the math section were not high enough to compensate. Based on that practice test, my Honor Roll...more
Recent corporate financial scandals have highlighted the importance of business ethics and legal compliance. Yet a recent National Association of Corporate Directors (NACD) survey of 280 corporate CEOs and directors found that "only one of three directors felt that they were highly effective in ensuring legal compliance". Building an Ethics and Compliance ProgramMost companies realize that they need to develop and implement a business ethics and...more
Many financial services power-houses—e.g., Fidelity, CitiBank, Merrill Lynch and MetLife, have adopted a marketing positioning strategy that portrays them as leaders in virtually all segments of the market. As a result, their financial sales and marketing campaigns focus on casting a very wide net in order to attract the largest possible market.The practices of these industry "Goliaths" have spawned many financial services "Davids" who believe that financial marketing success lies in following the example of these behemoths. Unfortunately, these "me too" marketers are squandering a lot of their limited marketing resources since they can not effectively compete simply by mimicking the financial marketing practices used by the industry giants. For most financial services marketing organizations, trying to pursue every marketplace opportunity is futile. A much more pragmatic, cost-effective financial marketing approach is to maximize the impact of their limited marketing resources by focusing messages on only the most receptive markets. That focus is achieved through careful market segmentation.Market segmentation is the process of partitioning the marketplace into customer/prospect...more
Effective communication skills are essential to successful business development. Yet they're often under-emphasized and sometimes completely ignored. Why? Because we communicate so much and so often (approximately 20,000 words per day) we often take it for granted. But regardless of how good your product or service is and how much expertise you...more
You must decide for yourself whether you will charge for your services or not. Should you decide to charge, the next question is "what should my fee be?"1. Determine What You Need To MakeWhen setting fees, part of the calculation is how much you need (and want!) to make. If you first decide how much profit you need to make, you can then determine...more
Here's a bunch of important things you should know about day trading before you start. First off, can you daytrade if you don't have the requisite $25,000 plus? Yes. You can start Day Trading with as little as $750 if you decide to trade using a spreadbetting account rather than a standard broker, allowing you to ignore most day trading regulations about trading frequency. To day trade stocks using a standard brokerage account (8 round trips or more per week) you will typically need more than $25,000 in your account as per Uncle Sam's regulations designed to stop newbies blowing up. You don't necessarily need a 'mega PC' and a direct access account either. The average spread betting firm will give you access to a day trading system that runs happily in the browser of any low end PC on a dial-up internet account. Just remember that the better your initial setup is, the easier you will find it. You will NOT enjoy seeing your internet connection crash just as you try to pull off a perfectly timed exit, so it pays to have alternatives for everything you use in trading. For a list of the best spreadbetting firms, consult www.traders101.com.Is day trading the most dangerous form of...more
Video conferencing is a friend of the environment. It helps reduce the volume of CO2 emissions from cars and reduces traffic congestion on our roads (as well as improving company productivity and reducing costs!). As governments throughout the world...more
Recent mergers in many industries remind me of a point that Gen. Dwight Eisenhower often made, "Generals move the pins on a map," he would say, "but the front-line troops have to get the job done."And the key to the job is leadership, small-unit...more
The greatest occupational high that financial services Marketing Directors experience is bringing a vision to market through a financial product or service innovation. Seeking to experience the same euphoria that great inventors like Benjamin...more
Do you have an idea for a business? Perhaps the only idea you have is that you NEED an idea so you CAN start a business. Before turning any idea into a business, you must first have an idea how to succeed. For most people, the definition of a...more
Practical Biz Solutions The business success newsletter for business owners, top executives, and commission sales people from Stan MannPlease forward Practical Biz Solutions to appropriate friends.Dear Reader: High Achievers have great strengths....more
Why do some teams perform well while others struggle? How can you assess how effectively your team is working now, and identify methods for improvement?Research shows that 85% of the reasons that teams of people succeed or struggle has more to do...more