Tuesday, November 27, 2012

Building A Client Base

For business owner, having a strong client base is the most important aspect of running your business. Customers are our biggest assets and without them, our businesses would crumble.

In order to build a strong client base, you must first know your target groups. Who would be interested in your services? Focus on organizations whose membership belong to that group. You can offer demonstrations and answer questions. A business owner will thrive if they are outgoing. Strike up conversations with people who may be interested in your services. This can be done anywhere such as a supermarket, a party, wherever. Offer incentives. Give discounts on a weekly basis or to certain groups.

You can build partnerships with other local businesses. This is a great way to network yourself out and gain new customers. If you have not already, join a networking group. These groups usually meet monthly, and is a great way for business owners to get their services out to the community.

Volunteering in the your local community will also help build a client base. If you have a local Chamber of Commerce, you may consider joining, as newcomers always get information from this source.

Tuesday, November 20, 2012

About Richard Power

Richard Power has made quite a name for himself in the business and corporate world. Before he embarked on that journey, he got a start as an accountant for PricewaterhouseCoopers LLP. This would be the wheel that set Richard Power in motion. Throughout his business career, Richard has held a number of high ranking titles including but not limited to President, Vice President, and Executive Vice President. Richard played a key role while in these positions which is how he climbed his way up in the corporate and business world.

Richard Power previously worked for Tyco International. Power was a former vice president and division chief financial officer. Tyco International owed severance pay and interest of about $1.2 million to the former senior executive accused of participating in an accounting scandal at the diversified manufacturer. In 2007, Richard Power sued the company for breach of contract and about $9 million in severance pay in 2002. Power, who reported to now-jailed chief executive Dennis Kozlowski, claimed that in a phone conversation, the two agreed, in the event of his termination, Power would receive severance pay equal to the greater of $1.5 million or twice his salary and bonus in his last year of employment. Power was fired by Tyco's new management in 2002. U.S. District Judge Gerard Lynch, who heard the case in Manhattan, ruled on Thursday that Tyco had, in fact, breached an oral severance agreement with Power. Finding that neither Power nor Kozlowski were credible witnesses in the case, Lynch awarded Power $900,000 plus interest. The figure is twice Powers' fiscal 2001 salary, but excluded the $4.2 million cash bonus he received that year.

Today, Richard Power resides in Florida and now runs two of his own companies, Maxko Corporation and Power Consulting LLC.

Tuesday, November 6, 2012

Tips For Networking

Networking goes hand in hand for operating a successful business. Here are a few tips that can help you with networking.

Always arrive early. This will give you time to mingle before a meeting. Mingling plays a very important part in networking success. Don’t just stand around waiting for someone to approach you, you should get out there and start up conversations with others. Share with others your passion. When you love what you do, it shows, and people will take notice. Keep that smile on your face, it goes a long way in the business world.