Tuesday, May 16, 2017

Noting The Critical Stages In Business Development

For all intents and purposes, setting up a business is always a gamble. Members of the organization inevitably face the realities of risk, and this is why it is important to be aware of the critical stages of business development.

Image source: powerstartgroup.com

1. Start-Up Stage

As with all things, birth is always the first milestone. This is where most of the concepts and ideas are formed, along with the commitment to get a clear vision of the future in view early on. At this point, business owners make the best effort to build a customer base, and the first batch of stock is purchased here, too.

2. Growth Stage

Growth is defined by expanded capabilities as a result of proper preparation done in the previous stage. Here, a company may reap a few low-lying fruits. Also, it gives the company an idea as to whether they have done right or wrong. This is the period of many opportunities to make adjustments.

3. Maturity Stage

The maturity stage is characterized by the company running like a well-oiled machine and operations have reached a predictable point. The company sustains itself and increases its capabilities. If things are going well, the company can either choose to expand with much bigger steps like buying more assets, or it may even be sold at a profit.

Image source: bethelsplace.org

4. Decline Stage

The decline stage is one which no company aspires for, because this would lead to its closure. It may reveal gaps in management, a state of irrelevance for the product, or a high level of attrition. It may sound pessimistic, but it is good to note this so that when early signs appear, steps can be made to avert it.

Steven Rinder is a leader is business development. In his spare time, he likes to run. For more about Steven, find him on Pinterest.

Sunday, April 30, 2017

Strategic growth through social media

Breakthroughs in technology have redefined the global lifestyle. As connectivity has reached its most advanced state, it seems that almost everyone wants to have a piece of the action. The result is a personal stake in a completely engaging interconnectedness which we now know as social media. If one wants to grow as a business, social media is now a viable channel for doing so. 

Image source: makeawebsitehub.com

Shareability is probably one of the biggest draws that hook people on social media. This becomes the platform by which people agree or disagree. It doesn’t really matter, so long as there is a lot of buzz, especially if it’s your product that is the topic. Sharing creates a lot of mileage for business. 

If your company has a social media presence, then you are also interested in subscription. Whether this is in the form of likes, friends, followers, or views, once an individual considers you interesting enough, he is willing to become your subscriber. Clearly, this allows your network to grow. 

Another characteristic that makes social media an effective growth platform is instantaneity. The moment you share something that’s worth a person’s time and attention, it reaches your network of subscribers, and maybe even their individual networks. 

Strategic growth through social media is all about getting into the general consciousness of the market. This can be achieved successfully. Once people know who you are and how it makes sense for your business to be a part of their lives, then you know that you’re all primed for growth. 

Image source: institute.wycliffecollege.ca

Steven Rinder is a seasoned expert on business development. He is also a running enthusiast. For more about his interests, visit this Pinterest page.

Thursday, March 30, 2017

Chasing time: The quest to break the two-hour marathon

Nike’s recent much-publicized Breaking2 initiative -- to beat the two-hour marathon -- had the running community abuzz about the doability of the feat. With both running experts and enthusiasts weighing in on such herculean attempt, it is important to extract the valid points from all the discussions. 

Image source: askmen.com

Experts from the field of sports physiology agree that a sub-two-hour marathon is feasible. However, it requires a perfect blend of variables. For instance, Dr. Michael Joyner of the Mayo Clinic calculated in 1991 that 1:57:58 is the physiological limit for a man in the marathon, the best possible time for an athlete with a maximal O2 uptake (VO2max) of 84 ml.kg-1.min-1, a lactate threshold of 85 percent of VO2max, and exceptional running economy. 

Meanwhile, Alex Hutchinson of Runner’s World concluded that it would be in the year 2075 when the sub-two marathon is finally conquered. In his article, Hutchinson, after assembling a database of more than 10,000 top marathon performances, crunching numbers, and plotting trends, identified several factors that need to align to create the perfect race for the perfect runner. 

While the quest to break the two-hour marathon seems impossible for now (Nike’s attempt ended with Kenyan Olympic gold medalist Eliud Kipchoge clocking in at 2:00:25), several groups are still pressing on to conquer the dream. There’s the Sub2HR Project, initiated in 2014 by Yannis Pitsiladis, a professor of sports and exercise science at the University of Brighton in Britain. The Sub2HR Project is eyeing to break the two-hour barrier within five years. Another project is spearheaded by Nike archrival, Adidas, though details are scarce on the company’s sub-two effort. 

Image source: qz.com

Seasoned business executive Steven Rindner is also a running enthusiast. For more articles on the world of running, visit this blog.

Wednesday, February 15, 2017

A Strong Comeback: Running After An Injury

For any experienced runner, returning to training and joining races after an injury is not as easy as putting on their running shoes and heading out to their favorite trail. Even if the injury is a minor one, many runners still question if they are indeed ready, and more importantly, confident, to run again.

Image source: runnersworld.com
Running coaches emphasize the importance of patient progression. Making a strong comeback after an injury calls for a gradual approach that some runners may find frustrating especially after being sidelined for weeks. While the eagerness to return to running is commendable, the objective is to do so in a manner as healthy as possible. And that entails a slow, pain-free progress. One must first learn to walk before they run (again).

When crafting a re-entry strategy, several factors need to be considered:

  1. The site and severity of the injury
  2. How many weeks sidelined
  3. Fitness level before injury
  4. Years of experience as a runner
  5. Any cross-training during time off

Answers to these queries are essential because the worst thing that can happen post-injury is a re-injury. Setting parameters will help in staging a successful comeback. And while there are numerous approaches or rules on how to do so, the common denominator is to build a solid running foundation slowly but surely.

Image source: running.competitor.com
Running is all about pacing. Whether you are just new to the sport or training again after a stress fracture, crossing the finish line successfully requires smart moves.

Steven Rinder is a seasoned business executive with a background in media, technology, and real estate industries. He also enjoys running and joining marathons. Read more running insights here.

Tuesday, January 10, 2017

Race To The Top: The Best Marathon Runners Of All Time

In every endeavor, be it personally or in the business world, it is helpful to look for inspiration from individuals who have had success in the same pursuit. Those who wish to find success in marathon can learn from these runners who are considered to be some of the finest athletes the sport has ever seen:

Image source: xogsoor.com

Dennis Kimetto

The world record holder in marathon, no runner has yet topped the Kenyan’s 2:02:57 mark which he set in the 2014 Berlin Marathon. As a matter of fact, Kimetto is the only marathoner to break the 2:03:00 barrier.

He was a subsistence farmer who had casual training before meeting Geoffrey Mutai, the record holder in the Boston and New York City Marathons, in 2010. After that, he was invited to Mutai’s training camp, and not long after, he was already finishing world-class times in marathons.

Haile Gebrselassie

The Ethiopian running legend has set 27 world records in athletics throughout his illustrious career. Widely considered as the greatest distance runner of all time, he is a two-time Olympic Gold medalist in the men’s 10,000-meter event. He has also won nine major marathons, but had he entered the marathon scene at a younger age (he first joined marathons in the early 2000s when he was in his thirties), he probably could have won more marathon events.

Image source: alchetron.com

Paula Radcliffe

The British running legend set the fastest time for the women’s division in marathon during the 2003 London Marathon. She completed the course in 2:15:25, which is more than three minutes shorter than the next fastest time.

Read more about running and marathons by visiting this Steven Rinder blog.

Wednesday, December 14, 2016

The role of customer decision journey in business development

Ever since it was developed, the sales funnel system has been the primary framework in business development. It is the process of finding and connecting with prospects to turn them into leads, and eventually to customers and repeat buyers. It has been the ideal setup, for a long time, in ensuring that a business avoid losing or “spilling” potential customers – individuals or other businesses.

The concept stems from the marketing tool AIDA, which means attention, interest, desire, action, and has the objective of building customer relationships.

Image source: digitaltonto.com

In the modern environment, though, the sales and marketing process is anything but linear, which is an assumption in the sales funnel system. There is a need for businesses to determine the different factors that affect customer behaviors to make sure that marketing resources and effort spent are converted into real sales.

This is where the customer decision journey (CDJ) steps in.

CDJ veers away from the funnel and focuses on the “circular” or looping journey a customer undergoes in deciding to purchase a product or service. Its phases are the following: initial consideration of the brand or supplier, active evaluation or information gathering about potential purchases, closure of the transaction, and post-purchase wherein the consumer experiences the product or service.

Image source: ijad.co

By applying CDJ, a business can find out what matters to consumers, where to channel resources to maximize results, and foster a healthy relationship between marketing and sales.

Business executive Steven Rindner has a strong background in business and corporate development and growth strategy across various industries, namely, healthcare, media, technology, and real estate. Subscribe to this blog for more business articles.

Wednesday, November 16, 2016

Improve Mental Health Through Running

Almost everyone is aware of the physical benefits of running, but not all are knowledgeable about its impact on mental health. Research shows that people suffering from mental illnesses such as depression and anxiety greatly benefit from running. Running is not only an aerobic exercise that promotes the release of stress-fighting hormones (which consequently improve or stabilize mood), but it also strengthens certain neurological pathways in the brain related to memory and cognition.

Image Source: dailyburn.com

Those who are depressed complain of having low energy and lack of self-esteem. Depression is a vicious cycle wherein the absence of brain chemicals affects the physical body, preventing hormone production. For people with depression, it can be difficult to take the first step in improving their well-being. Running, however, is the easiest exercise to do because it requires very little in terms of gears and equipment. All one need is a good pair of running shoes.

Many health experts recommend running, particularly, running a marathon, because there is an element of purpose. Participants need to train to join a marathon with the goal to finish the race. This type of training helps build confidence. Studies show that people who completed their first marathon have improved mental health particularly in how they assess their self-worth, self-respect, and self-confidence. Marathon training also builds key life traits such as discipline, motivation, determination, and inner strength.

Image Source: atriathletesdiary.com

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