Going global is where growth opportunities lie for many businesses. Arizona companies may find Mexico and Canada inviting options to consider. MEXICO Those looking at Mexico may find themselves in good company, as 34 percent of Arizona’s exports currently go to our southern neighbor and 35 percent of what we import comes from there. “Mexico is Arizona’s largest trading … [More]
The Plus Side of Bankruptcy
Although some people think bankruptcy is a death knell for businesses, it is actually a vital part of our economic system. Bankruptcy can allow a reorganized business to emerge stronger and better positioned to compete in the market. In fact, at its core, bankruptcy rewards entrepreneurship. Bankruptcy provides a safety net for businesses, which face economic challenges, to … [More]
Today’s Luxury Home Market
Phoenix-area home prices have been rising since hitting a low point in September 2011. The median single-family-home price rose 32.7 percent — from $150,000 to $199,000 — from last September to this September, according to the most recent report from the W. P. Carey School of Business at ASU. The average listing price of luxury homes — generally defined as those valued at … [More]
Explode Sales with Targeted Online Marketing
The Internet has accelerated strategic target marketing to a new level. We have access to virtually any type of information at our fingertips. Combining this with expert analytics, marketers today can create, evaluate and redeploy targeted campaigns at light speed. In the “old” days, the best advertisers could hope for was to promote their company via media that created content … [More]
Commercial Real Estate as Investment
Across the country, commercial real estate companies are finding that managing a portfolio is a particularly challenging task in today’s economy. The following best practices demonstrate that effective portfolio management starts with the development of a thorough review process that allows a business to respond to opportunities in the market. Frequent Reviews Are … [More]
Exploring Public Procurement in Arizona
Both well-established and emerging companies seeking to expand in Arizona should consider whether to pursue lucrative government contracting opportunities. However, confusion about when and how the government actually purchases goods and services often keeps businesses from pursuing these opportunities. Through understanding what public procurement is, how it works and why a … [More]
Jim Collins Speaks to Arizona
It starts with people. That is a basic tenet of Jim Collins’ teachings on how to effect greatness in an organization, and central to one of the challenges he gave to the assembled leaders at the Arizona Leadership Forum earlier this year. A foremost authority on leadership and author of New York Times bestseller Great by Choice, he urged everyone there to reach out to … [More]
Visitors Wanted — Get Your Website Found on the Internet
Last month, we discussed how to design a website to support your sales process. Now that you’ve created a sales-oriented site, it’s time to make sure you get found by your prospects. More than 85 percent of “clicks” go to the highest-ranking websites. The key search engine ranking components are Search Engine Optimization (SEO) and traffic building. In this article, we’ll take … [More]
Arizona’s Growing Wine Industry
From an economic standpoint, Arizona’s wine industry is doing really well, according to Peggy Fiandaca, president of the Arizona Wine Growers Association and owner and marketing director of Lawrence Dunham Vineyards. “It is growing; there are new acres of grapes in the ground and new wineries opening up. Between 2011 and 2012, we doubled the number of gallons of wine that were … [More]
Put Client Interest Over Self-Interest
Any entrepreneur willing to endure the proverbial “blood, sweat and tears” it takes to start a business knows how important clients are. They write the checks that pay the bills, so keeping them satisfied is rarely just lip service. In fact, most business owners believe they are putting their clients first — and would be shocked to hear they’re putting clients last. But in … [More]
The Changing Dynamics of Negotiation
“The advent of greater use of technology and social media has changed the way businesses are going about negotiating,” says attorney John DeWulf, of Roshka DeWulf & Patten. Parties are better able to negotiate thanks to technology that enables them to access more information not just about the subject matter (i.e., market trends) but also about the other side of the … [More]
Leadership Control vs. Business Growth
Most entrepreneurs want to grow their companies. However, the road to success is often a bumpy one. While many businesses start quickly growing revenues and profits, they frequently plateau well short of their potential. This often leaves the owner confounded regarding why his or her once-thriving enterprise has fallen on hard times. It can be a frustrating … [More]
Base Website Design on Your Sales Process
If you want your website to generate new business opportunities, you need to make sure it is designed to attract leads while it is guiding your prospect through the sales cycle. If you’re an e-commerce company, like Amazon or e-Bay, specifically focused on selling your product or service on the Internet, your site was probably designed to move a prospect through the buying … [More]
GPS Finds Its Way in Business
As fleet manager for Pink Jeep Tours, Greg McCallum deals with his share of questions: Did a jeep make it to the Grand Canyon yet? When is the Trekker getting to the hotel to pick up guests? Just where is that jeep that left not long ago? To find the answers, McCallum turns to the heavens. If you think he’s guided by the stars, you’re close. His fleet relies on on-board … [More]
What Works and What Doesn’t in Leadership Style
The best CEOs are always learning. The certainties of today — whether it’s relying on a particular business model or banking on a “category killer” or operating under a particular regulatory framework — can be up-ended and disrupted tomorrow. Corporate chiefs who internalize this reality are best equipped to steer their companies through disruption. Executives and directors … [More]
Branding Arizona
The common thread running through the minds of Valley economic development and political leaders is: Arizona needs to tell its story. The state’s image and reputation drive what happens to business in the Valley of the Sun. Arizona has never cohesively presented its message to the world. Officials say we’re always playing catch-up and trying to erase archaic and wrong … [More]
Create a Workplace that Meets Three Powerful Human Needs
Employers may be clear on what they need from their employees: hard work, efficiency, innovation, motivation, results. But what do employees need from their employer? To answer in practical terms — a steady paycheck, a quiet workspace, more training — is only partly right. Before they can meet the employer’s deepest needs, the employer must meet theirs. Psychologist Abraham … [More]
Cycling Dollars from Local to Local
Studies show a multiplier effect on dollars spent at local businesses that doesn’t exist for dollars spent at chain retailers or other out-of-state firms. Even if a local purveyor’s price is higher, the pay-off comes from keeping the money in the community. Local businesses propel dollars through an elaborate local spending cycle, generating jobs, profits, purchases, capital … [More]
