How to Profit in a Highly Competitive Market ?

How to Profit in a Highly Competitive Market ?

How to generate profits in a highly competitive market ? Well, the answer is simple DON’T COMPETE.

Competition implies consuming time, effort , resources , value diminishing and decreasing profit margins.So, do you still want to compete ???

Ok then let’s face it ! why you want to compete ?is it because you are pursuing larger market share and thus increasing your profits. Or is it also about dominating the market so you can impose your own prices.

What really happens most of the time when you compete is that you get to increase your cost structure trying to serve more or saturate the market or serve the current customers better ….And then you will try to create those desperate market offers or discounts or differentiate your service or product .

Let’s say you dominated the market and you achieved the largest market share possible. BUT, does that mean you are a winner? maybe yes , but for how long? especially in our extremely dynamic era with its surprising trends??? What is dominating today may be swiped away with with a new trend or new invention.

I think you need also to ask yourself that if I had the largest market share would that mean or guarantee higher profits than everyone else?

Actually, there is a false understanding that the larger the market share the more profits you gain!!!

The truth is the more you are niche-focused the more the profits you earn. Let’s take an example from the auto industry; Toyota globally have a higher market share than Bentley while Bentley generates more profits than Toyota.

Another example from the hospitality industry four and five stars hotels exist everywhere much more than luxury resorts like the ones in Maldives or in Santorini , but still the luxury resorts make more profits, they are even less likely to suffer from seasonal variations.

Another example from the aviation and airlines industry there are airplanes that anybody can go for and there are private jets.

What does this tell us ? or What does niche focused mean? When you are Niche-Focused you will : 1-Earn more Profits and and have higher profit margin . 2-You will need to sell Less. 3- And your cost structure will be Lower .

But how can you be niche focused ? I will give you 4 Tips out of 12 to put you on the correct track to choose your niche; 1- Study the process that your targets experience with a certain product or service. like before using the product or service , then during using it and after using it. You will get to know a lot of gaps that competitors aren’t covering and that would be a great Niche opportunity to utilize. Like when you do your daily workout or when you read a book , or when you use your laptop or even use your toothpaste. Study the journey and tap the un-tapped needs . Look for Pain Points. 2- Explore what issues are prohibiting your targets from buying a certain product in your area of interest. Like why aren’t they using Paypal services as a payment gateway? 3-Ask Influencers ( could be a parent or buyer or a purchasing director or financial manager or a retailer or dealer …) what are the problems when buying a certain product or service, you will reveal a lot , you will get to know many pain points that are uncovered. 4- Think of people who might have an interest in common life aspects and would love to have and satisfy but can’t for different reasons. Like older people who would like to have a bachelor degree or a high education certificate in a certain field.

In addition to those 4 tips please keep in mind these extremely valuable directives :

1- Do not pursue incremental improvements because they will not distinguish you nor you will be providing a real value to your targets but you are only pursuing contemporary gain . 2- Do not benchmark your service or product with industry key players or major competitors because you will limit your thinking of finding your creative targeted niche. 3- Do not Pursue price competition because you will decrease your profit margin and increase your costs.

Please understand that competition is against business solid successful continuity , because you will be draining your resources , efforts, money , time and the most of all you are swimming far away from what customers value .

If you want to master tactics and mechanisms in achieving Niche-Based Businesses (Extremely Profitable Zone ) then please feel free to contact me via email: Dr.salamamin@yahoo.com or via Skype : Dr.Salam Amin       .

 

 

How to Get New Clients For Your Business ?

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How to Get New Clients For Your Business ?

Gaining , acquiring or getting new clients is one of the most fearful topics to too many businesses. While it shouldn’t be , especially if you get to know and understand your target customers pains, needs and solutions they are looking for and then craft your road map to winning them .

Before getting into the methods of gaining new clients, I would like to give you two valuable advices so you won’t waste your time, efforts and money especially if you are bootstrapping or you have a small budget or even not but to save you from frustration and thinking to give up or thinking that your business isn’t successful. The First advice is : Be patient and keep asking yourself what I should do to improve , what’s wrong and how I should fix things . The second advice : Don’t you ever depend nor think that advertisement is enough for your business to gain clients quickly.

So now let’s dive into the methods of getting new clients for a product and service based businesses. Of course, this process comes after you determine who exactly is your target market and get to know them in depth. You then can just start implementing one or two or some of these methods.

1- Search your target audience via google, social media , chamber of commerce and any other directory that they might be registered in Directly and Indirectly. And that means if for example you are targeting hospitals’ general managers in a certain location then you should search them not only by hospital in this location which is the direct way ,but also indirectly through their interests , groups ,forums, hobbies, demographics , problems they share, groups and associations they join, food they like , memberships, habits and their daily routine, apps they use and places they shop from either online or offline……Then connect with them and build a rapport ( establish an emotional relationship with them).

PS1 – If you want to go further deep step target people who are expected or qualified to be future hospital general managers.

PS2 – Use also Hashtags when searching.

PS3- Use general short and specific long tailed words like if you are in the real estate industry and you are targeting wealthy people search for people who are interested in mansions ( General ) or luxury homes with inside swimming pools .

2- Send to your potential customers gifts representing your business and products more than once because this way you will crave your products in their minds better than others and the possibility to win them as customers are higher. In case you are a service provider you can start giving practical tips and solutions and even start correcting and fixing things for them after their permission.This way you will prove and showcase how important your services are and you will outperform others because you already started working with that potential customer before them.Then your chances that they will ask for your paid services are higher than others because you already won their attention.

3- Grow your Email List and Whatsapp Broadcast lists , try to do that constantly because it will increase your number of clients in an unexpected way.Of course you should look into growing other types of lists depending on who you target like if you are targeting teens they are heavy users of KIK app.

4- Make strategic partnerships ; like if you are selling beauty products consider partnering up with hotels and with other types of accommodation providers to gain mutual benefits .You as a beauty product seller you will provide samples of well designed elegant gifts to hotels so they can surprise their guests for an exchange for hosting promotional events or the benefits even would be more than that for both partners like the beauty product seller will have guests and their networks to know them and the hotel might also think of getting the partnership to a higher level by providing more types and variety of these products to pamper their guests. Also the hotel gains a lot in this relationship its actually one way to gain repeated customers with low costs.

Again you can go more in depth with strategic partnerships to get people and businesses to know you and make business with you. Think of creating partnerships with businesses that are in the area of interest of your target market so you can show up there and offer something of value to them .Offer them something they can test and try or something they can instantly apply to sense , measure and touch how valuable your products and services are to them.

5- Running Ads but be so focused here like its not running ads anywhere on social media, adwords or on TVs, but precisely state where and when people show on different platforms on-site and off-site .Like state exactly newspapers they are interested in put an ad there in that specific time.Or if there are certain events running like conferences or cocktail parties or any type of event show up there with your ads in different ways .

6- Influencers & Decision Makers : make sure to target them proficiently when you conduct your ads or through directly engaging with them on their channels on social media or emails by comments, tweet, shares, DM or PM. Because if you are selling like occasional products on fathers day you should target wives and women not men or if you are selling basically baby products then you should target moms or if you are doing B2B make sure to contact purchasing director .

7- Least but not last buy linkedin sales or business plan, they are part of its premium at the upper right of your linkedin account page.

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In every business industry there are very smart strategic methods that resonate with it to win new customers proficiently. Like in the hospitality industry there are extremely successful ways that can be implemented to win direct booking customers rather than getting them via OTAs or agents. Also the same with the aviation industry and others….

So its all about different efforts that should be taken and implemented but distinctively and at specific time frames . Engagement is a king in business. And finally create your own style to position your business in the heart and minds of people.

There is no one ultimate correct way for my business or yours to get clients, we both should always be creative and question ourselves as business owners on how and what we can do to get and win new customers .

For more deep results-driven actions feel free to contact me at Dr.Salamamin@yahoo.com or at skype : Dr.Salam Amin.

4 Tools for #Hotels to Maximize Their Ads Reach.

In this blog I will write about two tips to get the most of  hotels and accommodation providers ads campaigns ; The First Tip  is :  The most Important ads tools that each hotel should apply to increase their digital reach .And the Second is:  The 4 Tools that will maximize Hotels Ads Reach.

 

The First Tip is :  The most Important Ads Tools that each Hotel should Apply to Increase their Digital Reach.

 

The Second Tip  is : The 4 Tools that will maximize Hotels Ads Reach.

 

Tools and methods are infinite and they are continuously changin,g so you need to continuously  update your tools to ensure that your campaigns are effective and delivering the results that you are up to.

 

Remember you can always consult me at any time about your hotel or business .You are more than welcome . Let me share you your Success story.

Drsalamamin@yahoo.com

Whatsapp me  00962795116324

Skype Dr.Salam Amin.

Please after you read my blog  leave a comment. I will be delighted to hear from you.

How Could Profits lead to Bankruptcy?

How Could Profits lead to Bankruptcy?

If your Business is Profitable but still it is getting sick, then this is called the case of a profit trap that usually businesses get into unconsciously.

In this blog I will be talking about four profit traps that could lead businesses to bankruptcy.

Profit trap no. 1 : Your business is profitable but still it is not generating enough cash to grow, to invent, to innovate, to improve, for shareholders distribution, or for capital purchases…And the reasons for that vary; it might be dampened sales rate,  frustrated demand , fluctuations in the commodity pricing and availability, a rival poaching your customers or a technological shift that your business is not aware of. In this case of a profit trap I advise you to consider these solutions after investigating the reasons behind your current business situation:

  • Broaden or shift your resources .
  • Conduct smart agreements with suppliers.
  • Creatively entice customers needs and usage.
  • Go for clustering…
  • Look for multiple niches…
  • Partner intelligently with key players.

 

Profit trap no. 2 : Detrimental Profits.

And that is when your profits enchants in too many roots that are profitable and expensive but perishable and your resources are bounded and your paramount is to get the highest return out of them. So, in this case you are supposed to specify your first and foremost streams in order to obtain and recoup the highest return out of your  available and confined resources.

 

Profit trap no. 3 : Diluted Profits.

It is when your business is generating great profits but they are diluted due to over expanding .Sure, we business owners like to expand but dear you should first invest in strengthening your business and then expand wisely.

 

Profit trap no. 4 : Cash is not collected.

In this case of a profit trap your business is profitable and it is generating enough cash but the cash isn’t collected. If you are conducting transactions and giving credits state duration and rate limits. And I prefer if you use the cash paying privileges technique.  

 

Please be aware of these traps they could end your business in an unexpected way or it could be sold to a competitor, remember your business is profitable.

 

Remember you can always consult me at any time about your  business .You are more than welcome . Let me share you your  Success story.

Drsalamamin@yahoo.com

Whatsapp me  00962795116324

Skype Dr.Salam Amin.

Please after you read my blog leave a comment.I will be delighted to hear from you.

 

How to Beat OTAs & Increase Hotel Revenues?

How to Beat OTAs  & Increase Hotel Revenues?

OTAs are continuously recreating and restructuring themselves either by acquisitions or broadening their services or both.They are increasing their international market share and so shrinking hotels revenues.They are now even trying to control your hotel inventory by providing distribution and marketing tech.

 

But, that’s not because they are smart and successful at what they do but because hotels of all types that are suffering from their diminishing market share and profits are not playing right in the market and definitely not moving strategically with all the effort that should be done to beat OTAs…

 

In this blog I will be providing you with some actions to help you as hotels of any kind or size to conquer OTAs competition. But the full information will be in my coming WEBINAR.

 

Below I will write for you a variety of actions that will attract lookers and then convert  lookers into bookers.

 

  • The first action is maneuvering : Spread the minimum number of rooms to be located on important OTAs that target your audience       (because you don’t need to locate yourself on any  random OTA) . But before that make sure to appear on the OTAs first page by paying the commission they ask for even if it is costly for you as a hotel. I know you will say what the hell is she saying ???she wants us to pay OTAs even more …Remember I said choose or locate the minimum number of rooms and the idea here is to attract potential guests attention through OTAs sites .Because most and more than 82% of  people who visit OTAs will go and visit the hotel websites when their offerings and prices that are located on OTAs  are suitable for them .And this is what we exactly want to get them to do to visit your hotel website. From there you have to gain their absolute attention and make them book directly by having a perpetual smartly designed website.

 

In order to make your  hotel website attractive , so useful and most of all of great value to your potential guests  make sure to :

  • Place the offers that are on OTAs on your hotel website ofcourse with the same price on OTA due to rate parity agreement but with  additional or FREE amenities or offerings when booked directly;  like free dinner or enjoying a  massage for free…etc.And ofcourse insert the button book now and between brackets ( it’s Secure, easy and quick).
  • Provide a 15 seconds video for the room and the amenities the guests will enjoy  and this is also for the sake of increasing the time  on your  hotel site.
  • Place in a clear message that bookings are commission free and Secure .
  • Ease the process of booking as much as you can make it clear and transparent with no hidden or surprising fees. And easy to navigate.
  • Use SEO  but that’s not all , use SEM( search engine marketing ) for your website .
  • Place reviews of your hotel from OTAs on your website.
  • Make sure that the download time of your hotel website is not more than 3- 5 seconds.
  • Mobile – optimized.
  • Provide  virtual tour for your hotel and play visual stories.
  • Provide unique captivating packages on your site especially for  older people , honeymoon , anniversaries, special occasions, business  events,…
  • High quality images.
  • Always and continuously update your website & social media content.

 

To have more  detailed information on optimizing hotel websites wait for my  coming webinar .

 

  • Secondly : Locate your hotel on google business listing.
  • Thirdly : Make sure that your hotel is on Hotel & Travel Search engines.
  • Fourthly: Use pinterest business account , create your profile on Google plus ,sign in  for google places listings and don’t forget to benefit from foursquare for business .
  • Fifthly :Use Proof to increase your website conversions.
  • Sixthly:  **Ads ** ads for your website , offerings, packages, story videos that brings guests emotions into play and ads for your hotel app. The ads that are beneficial to use if promoted correctly and designed with knowledge to target audience like:
  • facebook ads try to make them through power editor .
  • Instagram ads is another powerful tool.
  • linkedin ads especially if you wanted to target business events or professional people who take decisions and influence them.
  • Its so important to use bing ads and yahoo ads and GEMINI they drive proven results also.

 

These six actions or tactics are just a small part from a comprehensive process that should be applied towards achieving desired results like restoring your hotel market share locally and internationally and increasing it and your revenues. Also alot of actions can be taken to abandon at some point the use of OTAs, which I will be explaining  extensively in my coming webinar.

 

At the end of this blog I would like to remind you to paying a great attention to detail and content in your website and social media channels .Ask yourself  as a person of interest or in charge what type of customers or potential guests am I targeting? so, What content should I use , Where to locate it  and  each detail? when to locate it? .Pay attention to details like using science of colors .Again make sure that you are crafting and using  solid content ,thus weak ,random content or let me call it bad un knowledgeable content will throw  blocks on your road to success and I can see alot of this type of content on various hotels sites and social media channels.

 

Please keep in mind that you are always welcome to contact me via:

Whatsapp:+962795116324

Dr.Salamamin@yahoo.com

The Most Important Positive and Negative Impacts  of Brexit on  European Market, GCC & MENA region.

The Most Important Positive and Negative Impacts  of Brexit on  European Market, GCC & MENA region.

A lot of debate, speculations and assumptions are still going on آ regarding the huge event of Brexit because of آ the uncertainty that covers its possible positive and negative implications on the آ global economy either directly or indirectly.

In this blog I will put آ to you the most important positive and negative impacts of Brexit on European the Market, GCC, Japan ,China & Mena region. I will also put some quick tips for businesses to help them move forward.

Some countries will enjoy the positive effects of آ Brexit while others will fear the threatening challenges that might emerge and tackle their interests as a result of آ Brexit. Well, at least this is what many think of.

In my opinion as a Turnaround specialist and strategic business advisor, آ Britain  decision to enjoy an autonomy over its economy can be turned around آ for each business sector even for each company or corporate آ to benefit from for their own good despite level of Brexit impact on their location and economy.Definitely , we can’t deny some negative effects but still with smart and strategic restructuring and Turnaround moves آ each business sector, company , MNC or corporate can diminish the side effects and maximize the positive ones of Brexit.

Note: At the end of this blog I will be giving some tips for businesses to overcome financial and economic issues as a result of Brexit.

I First put to you first beneficial links about Brexit Hidden Opportunities and Threats :

Brexit and The EU Market:

Brexit Impact on the MENA آ region & GCC.

Brexit and Japan

Brexit and China

Hopefully, I saved you some time putting some major آ beneficial links for you to recap the potential effects of Brexit on different regions. But I also would like to mention some quick tips for every business owner and every person responsible for running a business of any kind and sector, and these are:

  • Broaden your thoughts and strategies and think out side the box to get advantage from Brexit impact and to turn negative effects to positive effects.

  • Re-build and restructure your business platforms and profits approaches…

  • Conduct new -creative types of arrangements, agreements ,cooperations and partnerships to gain new type of privileges that would offset any losses or disadvantages resulting from Brexit.

  • Expand into new lines of Business…Its a great Opportunity.

  • Laser -Focus and think of the unexpected implications of Brexit and start preparing …

  • Shift and Diversify your Business Focus.

Business success and sustainability needs smart آ work and actions despite circumstances and national or global events…So let me آ share and boost your آ business success, and please don’t  hesitate to contact me Dr.Salam Amin .

dr.salamamin@yahoo.com

Skypes : Dr.Salam Amin

www.sosyourbusiness.com آ

Why Some Managers and Executives Hesitate to ask for Our services?

       

 

Why Some Managers and Executives Hesitate to  ask for Our services?   In this blog I am not going to tell you here are the services that I  Dr.Salam Amin the founder of SOS Your Business will provide you or here is what SOS Your Business offers.But what I look for always is how to impact businesses and how to  add Value to our customers and to our prospects who are seeking business help.In this blog I will manifest our business actions towards achieving  business long-term sustainability.Also I will mention TWO  highly important Notes  regarding our Services….

** Please wait for our coming strategic blogs regarding Walmart , Amazon, and Uber….

In SOS Your Business we look at what matters to our customers ? what are their challenges & fears? What are their needs? And we provide, achieve and conquer them using creative and sustainable methods , techniques and solutions…

 

In other words, SOSYourBusiness-Dr.Salam Amin  aims at impacting and moving every business forward associated with strong immune system against economic financial fluctuations. And this was proved with our previous success stories which seemed in many cases to be  hopeless cases or extremely hard to transform their unpleasant results to pleasant ones.

 

Now lets mention the two important Notes about Dr.Salam Amin Services ; The first Note is:

 

PLEASE PLEASE PLEASE Keep in mind that any company or business that ask for our services will not be a reason to kick out the CEO or any of the key people who handles running the company or in charge of its operations. BUT,we will be your strong supporter as a manager, executive , as an organizaton leader , corporate executive director , or as a General manager. I am  your solid pillar that will work hand by hand with you to support your business and move it forward  to nourish and expand ,to overcome your business challenges whether you are an  organization , holdings ,university, hotel , governmental organization, ministry, NGO  , resort  , or in various types of sector or industry  like retail sector,  car industry , Malls, Product based businesses, services based businesses…..

 

The Second Note : Dr.Salam Amin Services are aligned and tailored  to match your business needs and to achieve your business desires especially as a business owner and as board of directors. Thus, you can ask for  Dr.Salam Amin’s  services  in many different ways like:

  • One- Mission Services : ( One time Contract ) in which you are looking for external help  and you want to outsource,  this type of service is for solving a specific problem or to help  you with a specific mission for a limited time like planning your business expansion and designing all the necessary methods , tools , tactics, strategies , plans, procedures…or for figuring out new creative solutions to boost your revenues and Profits, or take your business out of a bankruptcy situation, market penetration ,or handle for you a merger or acquisition , divestiture , amalgamation process ,reorganize your logistics, restructure your supply chain.Or you are asking Dr.Salam here to know  why and what’s  wrong with your company ,organisation, production process , decreasing customers ,visitors, guests, clients and weak performance results .

So this type of our services is crafted according to your type of need and objectives especially if they are temporary.

 

  • Long-Time-Contract : in this type of services you are asking us to be your Private Business Advisor , Your Private Business Consultant , part of your company board of directors or management Team ,or lead your business and enhance its life and existence.To be laser focused , to pierce  and to expect the unexpected  for the sake of taking  all the necessary steps , actions …to back up your business  and to prevent it  to be in crisis mode .

Simply here when you ask for this type of service you are doing two things : the first is protecting your business from being open and exposed to risks and crisis.The second is continuously maintaining the progress and success of your business and its increasing sales , revenues, and profits…

 

At the end of this blog please remember that Dr.Salam Amin Services are customized to achieve your goals and objectives.And that SOS Your Business will always be working by your side supporting and assisting your business not take your place .

 

Always ask for our services and honor us to share you your business worries, problems, challenges ,ambitions and desired destinations. Where ever your business is located in Europe , MENA region , Australia , Africa….. Let’s enjoy the success together. Call us!!!

 

Skype : Dr.Salam Amin

dr.salamamin@yahoo.com

www.sosyourbusiness.com