Have you ever wonder what it is like to be the owner of a barbershop? Well Raymond Jackson, owner and operator of Your Barbershop, is the one you should learn from. Not only do you get to work for yourself in this recession-resistant growth industry, you get to revive an American tradition while serving upscale clientele with your staff of professionally-trained employees, all with the support of the latest technology, proven operating philosophy, and an experienced management team at your disposal. In a two-hour interview, Mr. Jackson was asked a series of questions pertaining to his work atmosphere, personal goals, and personal thoughts about his establishment. This report will illustrate the necessities of running an established business.
When asked, “What, in your own opinion, would make another successful in this position?” he said, “You need a lot of people skills.” He believes in order to run a barbershop; you need to be able to meet the needs of the customer. If the customer is not satisfied, you will lose their business. You must be patient. If not, the customer will not return for more service. It’s all about keeping the customer satisfied. This led him to the topic of supply and demand. Most of his profit is dependent on what the customer wants. For example, if the customers come in and want to purchase a bottle of water, you have to provide the water at their convenience. This will keep the customer satisfied and ensure their return for more business. Sometimes business gets slow. He feels the need to bring in more customers. To achieve this goal, he offers various incentives such as discounts. The discounts allow more people to come in and e...
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... in its current state, and consumers directing more of their resources on fuel costs, have your business felt a slowdown?
a. No, due to the fact that customers still tend to keep up their appearance
13. As a small business owner, how do you plan your budget for your business?
a. By paying attention to the supply and demand of the customer
i. He buys what is needed
14. What does your company do to retain existing customers?
a. Consistency
i. Keeping up with what the customers want
15. What is your number one source of new business and how do you get it?
a. Siblings/families/friends
i. Referrals
ii. Growth of family
16. What is competition’s biggest advantage over you and how do you intend on fixing this problem?
a. Advantage
i. Technology
1. Computers
2. Accessories
b. Intentions
i. Add these things and more in the near future
Ms. Powell is a leader who gets results. She uses three distinct leaderships styles. These styles are authoritative and coaching. Amazingly enough Ms. Powell is very flexible and able to move between the three rather easily. When using her authoritative approach, she is acting as an expert and defines goals for her team ("Authoritative," n.d.). Usually, authoritative leaders allow their team to figure out the best way to achieve the established goals. However, this is not the case, nor the preferred method as a Mary Kay Independent Beauty Consultant. Instead, Ms. Powell provides a step-by-step path to success that is provided to her from the Mary Kay Cosmetics Headquarters. These step-by-step guides are considered training and provide the requirements to achieving specific levels of professionalism within the company. Thus, these leaders tend to look for people to work with them, people who can mobilize toward a vision (Goleman, 2000). Ms. Powell displays this characteristic when working with her beauty consultants. However, another major characteristic of Ms. Powell is she recognizes that not all of her consultants will be as energetic or eager as she with regards to selling cosmetics. Therefore, she moves toward a coaching style of leadership.
This book is important to business students because it shows that even the most seasoned executive runs into unexpected challenges and can find themselves in uncharted territory. Jim Barton’s experiences and lessons can be lessons for anyone. Any employee, whether they are support staff or a top executive, should always maintain an open mind and be ready to learn from a situation or the people around them at any time.
Competition is seen daily amongst Pepsi and Coca-Cola. In most cases individuals even compare the two just because they are major competitors that are always creating and innovating new ideas. The key to competition always making sure there is a plan to become successful. Businesses have to always have to stay ahead of the game. The businesses must always be put into place and remain one step ahead of the competitor. One business may target only the elderly generation. While on the other hand another business is targeting the generation to come or the present generation. Children may not like what the older generation
“What the CEO Wants You to Know” is written by Ram Charan, a Harvard Business School graduate, who was born in the slums of India, but worked his way to the top of the corporate ladder. Charan spent the past 35 years working as an author, motivational speaker, and a renowned business advisor to many of the world’s top chief executive officers. Ram Charan has worked with numerous companies including GE, Bank of America, Ford, Intel, DuPont and Verizon. The experience and knowledge Ram Charan has gained through his life’s work were used to write the book “What the CEO Want You to Know,” with the intention of helping individuals succeed in the business environment. The last chapter of the book begins with the statement “I hope you are convinced that professional excellence alone is not sufficient.” The book is organized into four parts. In part one, you learn the universal language of business though concepts like inventory, cash generation, pricing, return on assets, customer focus, product quality, product mix, and growth.
Mr. Joseph Dunn has been in the ski business for twenty five years. His business offers ski equipment as well as repairs. Furthermore, the business hourly turnaround on repairs has allow Mr. Dunn’s business to be a recognized name in the industry and has built a clientele of loyal customers. Nonetheless, Mr. Dunn wishes to expand his business and purchase a nearby dely. However, Mr. Dunn has no experience in that area, but knows that acquiring the deli would help him achieve a greater market share. Thus, Mr. Dunn now faces the dilemma of how to proceed on with his new endeavor. The following analysis will employ the leadership techniques to propose possible solutions to Mr. Dunn’s new business endeavor.
Joe operates a successful commercial landscaping and tree trimming business, and client's keeps his operation extremely busy. Although Joe employees at least 50 workers, with landscaping being seasonal, he experiences a high turnover. In addition to landscaping and tree trimming, equipment rental is also available to the clients, which adds an additional division to the business. With $250,000 of capital, and past year's revenues of $500,000, Joe is looking for guidance to take his business to the next level.
The definition of a hero can be incredibly hard to explain or can be entirely summed up in a few words. Heroes are usually ideal or admired people, yet, a hero can be somebody you don’t expect, someone unpredictable. The barber in this story is a hero, he’s a hero to his people and a hero for himself. He’s not a coward, although, if he went through with slitting Torres’ throat, he’d be plagued with the horror of being a murderer.
Q: What is one marketing strategy (other than referrals) that you’re using that works really well to generate new business?
The town has a population of 6,731 (US Census Bureau, 2015). The owner grew up in this town and has connections with most of the population. He understand where to place advertisements in the city and how to get the businesses name out in the community where it needs to be. Supporting local charities will be a large source of marketing. Things like sponsoring a local little league team or sponsoring a team to run for breast cancer awareness or being a booster for the high school basketball team. All these things will plaster the name of his business all over the town and shed positive light on the business while overall having a very minimal impact on the marketing budget. TJs Barbershop will also be looking for businesses within the community that provide different services than haircuts but target the same demographic that it can cross promote with. Cross promoting is where customers of one product or service are targeted with promotion of another product. Since TJs Barbershops target demographic is males from the ages 13 to 80 we can look for automotive shops, sporting goods stores or gyms. We would offer these stores a chance to offer their clients services at TJs Barber Shop for a discounted price. That way they are offering their clients a special coupon and TJs Barbershop is getting the free
In today’s world, it’s hard to compete for accompany that don’t known well their competitors. It ‘s like walking blind into a fire. For instance, knowing a great deal on what a competitors is offering in term of products can help a company to differentiate it’s product and make it more appealing for the customers. If the competitor’s products have weakness, one could build a better product without the same weakness the competitor had and from there gain competitive advantage. Furthermore, knowing the price of the competition can allow one to set competitive prices as
The potential competitors I will encounter on my way to achieve my goals are individuals seeking the same job as me, those with direct production management experience, and individuals with similar educational backgrounds and work experience as myself. My biggest competition is the individuals that have the direct experience and background as a production control manager. They are my biggest competitors because they have the necessary tools needed to get the job and American Airlines will be able to verify their work ethics from their prior employers. Furthermore, these individuals are more familiar with the kind of work American Airlines is seeking and they may have the capacity to catch on quicker than the individual with no experience. My peers are also competition. They are campaigning and pushing for the job generally as hard as I
As our text explains, "The action of competitors exerts pressure to put more money now into marketing, research, and product development" (Drafke, 2009. p. 143) it is truly a never ending competition. Therefore, there are many aspects that affect the resources a business has to work with from prices of product, operating costs, payroll, and many more. The business world uses all its resources to stay on top of the competition. . That is why any business must stay on the forefront of technology, as this is a huge asset in the world today for any business. It must use technology help in managing time, cost containment, and product in order to compete in this world of overabundance
Pricing. Our product is priced lower than our competitors in our industry. Even though our competitors have a different kind of product compared to us.
No company that falls behind the competition is guilty of standing completely still. But sometimes our efforts fail because of the level of commitment to change.
DO NOT against the competition. INSTEAD companies should make the competition among your competitors become irrelevant.