Month: April 2022

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Employ Data Analytics to Build Your Business

Data analytics is a suite of tools to support and improve your business planning and operations. They inform and optimize daily and strategic business operations, marketing, and risk and product management by providing insights into customer trends and existing business practices and products.

Data analytics help you uncover or highlight subtly expressed or hidden future trends and patterns in data describing your customers, inventory, products, and services. Today, ITB Partners reviews several ways in which your business benefits from advances in data analytics for accurate customer description and growth predictions.

Measuring Marketing Campaign Effectiveness

Describing customer demographics and purchasing behavior is a key strategy to improve your business and marketing plans. A good place to start is to analyze sales data sets, including customer responses to surveys, website statistics such as clicks and browsing information, and social media data.

Data visualization and spatial analysis tools, including pie charts, histograms, and mapping, make complex customer and purchasing data consistent and easier to understand. Seasonal patterns of customer purchases, among many other factors, strongly influence marketing plans. Practical business concerns, such as inventory, distribution, and actual customer in-store and even online experiences, are also affected by daily weather. Data analytics is a way to clearly show these seasonal and daily weather patterns in relation to sales figures, demographics, and feedback from customers about your products and their experience.

During the slow season, why not build your knowledge of prescriptive data analytics to predict products you should market next? Enroll in an online technology degree program or catch up on the latest trends with a short course tailored to your interests and needs. For example, customizable logo design services are increasingly available online to facilitate creative logo development and graphic design searches. Experiment with your own logo design by choosing a style and icon, adding desirable text, and combining colors, fonts, and styling in iterative and unique ways.

Understanding Product Development and Operations

Leading product managers use data analytics in creative ways to understand product viability and development. Product management often builds on successful marketing data analytics, using the same data regarding customer preferences and behaviors, and adding new data on competitors, customer service, and market penetration. Other analytical tools incorporate data on product improvement and product innovation.

Operations data analytics introduce data on product flows and processes to streamline and increase the efficiency of company activities. Mapping and optimization of process flows can benefit your business in countless ways. For example, a business could learn that multiple employees are involved unnecessarily in approving an invoice or inventory acquisition, resulting in lost time and effort. Decision-making is more efficient if individual employee responsibilities are carefully delineated, and fewer transactions require multiple approvals.

Another essential business operation to consider is customer relations and service. Graphics and analytics reveal ways to retain current customers and recruit new customers by mapping sales patterns and customer feedback and better understanding customer satisfaction.

You can also give yourself the inside track in an ever-changing technological race by pursuing a degree in Information Technology – and thanks to the flexibility of online programs, you can learn at your own pace and keep working while you study!

Data Analytics Provide a Competitive Edge

A suite of data analytics tools provides insight and understanding in improving and streamlining your company strategies, product development, and operations. Click To TweetTailor specific analytics and visualizations to increase acumen and information in risk management, marketing, customer recruitment, inventory and distribution, and many other aspects of your business.

ITB Partners is a Consortium of independent management consultants providing high value-added solutions to your problems. We look forward to meeting you!

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

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Stop Procrastinating and Accomplish More!

I put this article off for too long! No kidding! Procrastination is not one of my worst habits, but I am prone to succumb to it from time to time.

Why write about the subject now? Maybe because it is time to file our state and federal taxes. It is on my mind because people I know waited until the filing deadline to complete their taxes. I am confident they are not alone. I have known many who were last-minute tax filers. Fortunately, that is not an issue for me as I have an accountant who does our personal and business taxes. He has complete access to my QuickBooks Online account, which is always current. I have almost eliminated my tax preparation requirements. Procrastination is no longer necessary.

I have never been much of a procrastinator. I am a planner by nature and by training. I try to be proactive. The thought of putting myself through the stress and anxiety of meeting a deadline at the last minute is too painful to bear. That does not mean that I don’t procrastinate from time to time. Sometimes, I procrastinate to avoid irritating or mundane tasks. Getting my annual automobile inspection is a good example. While in college, I did not engage in last-minute, pre-exam cram sessions. Instead, I believed that I would perform better with a good night’s sleep. It was the same during my corporate career. I made a point to complete my assignments early, especially if they involved a presentation. I used the extra time to hone my subject matter knowledge and focus on the presentation. I never wanted to present work that was less than my best effort.

To some extent, everyone engages in procrastination. I have known many who wait until the last minute to complete assignments. I spend much of my time coaching my clients to overcome procrastination. Watching them race through the process of completing an important task at the last minute is painful. Helping them defeat the urge to procrastinate improves their performance, moving them closer to their goals. Click To Tweet

Ways to Approach and Correct Procrastination

Do not punish yourself for procrastinating
Commit to completing the task
Promise yourself a reward upon completion
Find someone to hold you accountable
Change your attitude toward the task
Focus on the issue
Eat an elephant, one bite at a time

To minimize procrastination, I’ve adopted a few helpful habits that may interest you. My most powerful technique is to put the task right in front of me to be in my way. I create a situation where I cannot get around the job, so I must dispatch it. A good example is putting my dry-cleaning in the passenger seat of my car. Once that is done, I cannot ignore it. I must take it to the cleaners and retrieve my clean laundry. I know that is a small, inconsequential example. Even so, the concept works with more essential matters.

No one likes paying bills, but the avoidance cost is steep. We must pay them eventually. To get this task behind me, I will put a stack of bills in the center of my desk. They are right there in front of me, screaming for attention. Furthermore, I have adopted electronic bill pay methods, including the authorization for automatic withdrawals. Now, I have one less activity to avoid.

To continue making progress in a health-related area, I set concrete milestones and plan rewards for goal attainment. For example, I will plan to purchase an article of clothing as I achieve specific points in a weight loss program. Creating a reward keeps me motivated to stay on track to achieve my objective. I find it helpful to start with a plan that segments the overall scope of larger projects into smaller components. Completing small activities generates momentum that leads to successful completion.

In conclusion, procrastination is a bad habit that inhibits your productivity and goal achievement. It is a common affliction. It is natural to avoid complex, tedious, unpleasant, aversive, and stressful tasks. Instead, we prefer to engage in the fun stuff! To defeat procrastination, consider changing your attitude toward the job. Make it a priority you cannot avoid. Break larger projects into smaller parts to be tackled sequentially. Reward yourself for completing a dreaded task. Finally, you might look for ways to eliminate routine tasks through automation. Begin practicing some of these tips, and let me know if they work for you

For more information about procrastination and how to overcome your avoidance issues, you may find it helpful to check out these links.

https://www.businessinsider.com/main-types-of-procrastinators-how-to-avoid-accountability-coaches

https://www.washingtonpost.com/lifestyle/wellness/procrastinate-why-stop-advice/2021/07/09/13b7dc2c-e00e-11eb-9f54-7eee10b5fcd2_story.html

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

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Hanetball360 TM – Revolutionary New Team Sport – to Host First Official League Games

Hanetball360 TM – Revolutionary New Team Sport – 

 Davie, FL (March 23, 2022) – Hanetball360 TM, will host its first official HBA360 league games on Saturday, March 26 at 5:30 p.m. with two matches taking place. The women’s teams open the night with the Lake Worth Charmers facing the Palm Beach Dazzles followed by the Palm Beach Avar vs. Ft. Lauderdale Gurus in the men’s division.  The contests will be played at The Rick Case Arena on the campus of Nova Southeastern University in Davie, Fla.

Hanetball360TM was created by Fritz Valdeus, Jr., the CEO of the Boca Raton (Fla.) headquartered DMIL360 Inc. The sport is played by two teams of seven players each on a Hanetball360 TM regulation rink which measures 157’ 2” long and 70’ wide.  The object of the game is to score points by “grounding” the Hanetball TM inside the opponents Grundnet TM.  The Grundnet TM is a 360-degree goal that is guarded by an Aimmeeter™(goalie). The games consist of four 13-minute rounds.  More details on how the games are played can be seen on the Hanetball360TM YouTube Channel video – https://youtu.be/tZLIFNDjjSU

This sport and HBA360 league, which was developed by and is fully managed by minorities, has been played competitively in Haiti, Cuba, and the Dominican Republic. The league is planning to have six teams based in the United States and will have additional teams located in Cuba, Haiti, and the Dominican Republic.

“The goal of Hanetball360TM is multifaceted, but one of the primary purposes, is to make a positive change in the world by promoting a revolutionary new way of thinking, called QuantumThinking360TM, said Valdeus, Jr.  “This new paradigm changes everything because Hanetball360TM is the first organized team sport to score and defend on a 360-degree field of play.”

 

The second set of league games is scheduled to be played on April 16 at The Rick Case Arena.

For more information on Hanetball360TM, visit www.hanetball360.com, watch the video on the official YouTube channel https://youtu.be/tZLIFNDjjSU  or follow on Instagram at www.instagram.com/hanetball360.

 

Hanetball360TM OPENING HBA360 LEAGUE GAMES

Saturday, March 26 at The Rick Case Arena on the campus of Nova Southeastern University.

Doors open at 4:00 p.m., the first match starts at 5:30 p.m.

Lake Worth Charmers facing the Palm Beach Dazzles (Women’s Division)

Palm Beach Avar vs. Ft. Lauderdale Gurus (Men’s Division)

For more information on the event, including tickets, please call Kenneth Stanley (561-922-6802) or Losaire Bien-Aime (561-922-6753).

Media Inquires:

Fritz Valdeus, Jr., CEO of DMIL360 Inc.
Office 561-910-0476
Direct 561-922-6806
fvaldeus@dmil360.com

 

 

 

 

 

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First, Build Trust!

Building Relationships

Recently I had the unfortunate experience of watching a client suffer through the effects of failed relationships with two of his vendors.  It was painful to watch, but it cost my client far more.  The impact of these failures was delayed project completion, an additional cost of labor and materials, and an erosion of trust with his customers.  The most painful realization was that these situations were self-inflicted wounds, easily preventable if my client had followed the proper procedures.

The fundamental issue was that my client failed to properly qualify either vendor to ensure that they could deliver on their promises.  I remember Ronald Reagan’s motto during his presidency; trust but verify.  In this case, my client invested his trust without verification.  Regrettably, the results were predictable.  These vendors were not competent to do the work my client required of them, and one was impossible to work with, continually trying to rewrite the terms of the agreement.

The long lead time for materials resulting from the Covid pandemic created a difficult situation for my client.  As a result, he looked for an alternate solution using a local vendor.  He found someone and immediately gave him four significant projects.  Admittedly, this vendor had good references, and his finished product was acceptable.  As an executive recruiter, I understand the limitations of a reference check.  Extracting useful information from them takes a certain degree of skill.  Unfortunately, I was not a part of the vetting process.  The result was unfortunate.  Although the vendor was a good craftsman, he was not a good businessman.  He could not determine appropriate priorities for his work.  He had little regard for his customer.  He did not finish the required onsite work and held my client hostage for payment he did not earn.  My client should not have trusted this vendor with the scope of work needed.  Likely, he will soon be an employee working for someone else.

The other subcontractor had done good work for my client on many routine projects.  However, he professed to be competent in one area my client had not witnessed.  That turned out to be a big mistake.  This vendor hired an incompetent subcontractor who made a mess of the project.  My client was required to find another subcontractor to demo the original work and start the project over.  We later learned that the subcontractor had hired a relative to complete his job.  My client refused to pay him for the shoddy work.  Even so, the vendor continued to demand payment for his work.  My client could not finish his work on time, which strained his relationship with the customer.

Both situations created significant angst for my client.   He gave his vendors his complete trust without adequately vetting their capabilities.  I explained how he could have used me to check the references on one vendor and how we might have further vetted the competency of the other.  My client was operating in blind faith.  That is not my preferred way to conduct business.

I use a well-defined process to build trust.  I begin by giving someone small projects to evaluate their competency.  If the first project is successful, I gradually increase the scope and complexity of further tasks assigned to that person.  The last thing I would ever do is give a significant assignment to an unproven person.  This process works for almost any relationship.

I believe that respect is given, but trust is earned.   Everyone deserves respect; it’s just a good practice among human beings.  However, one must earn trust.  It is a precious commodity to be carefully guarded.  Gaining someone’s trust requires an investment in time.  You know what you have to do to gain the confidence of your clients, customers, friends, and especially your spouse. We must be vigilant to guard against situations that put our relationships at risk. That includes developing confidence in the capabilities of our employees and vendors to help us serve our customers. Click To Tweet

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

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Network Your Way to Business Success

 

If you’re an aspiring entrepreneur, growth is a key factor in your business start-up’s success. Networking is a great way to immerse yourself in the world of business and can help you develop a base following from which to grow. ITB Business Partners – Management Consultants can be a valuable resource when it comes to providing high value-added solutions to your most pressing challenges.

What Is Networking?

Networking is basically an opportunity to connect with other people as a way to establish or advance relationships, identify potential areas for collaboration, and meet prospective clients and customers. Networking is a term used to describe everything from attending business functions to how you follow up with people you’ve been connected with or introduced to through others. As the term implies, your goal with networking is to build alliances, meet new people who can help you advance your business, and amplify your connections. It requires a sincere approach, so if you’re a hard-sell personality, you might need to temper yourself during in-person networking situations.

Why is Networking Important

While there are certainly many ways you can go about marketing and advertising your business, developing relationships, requires a more personal one-on-one touch leading to more robust business relationships. For example, if you’re in a networking event and meet somebody who provides printing services, which you need, you’re more likely to feel comfortable with someone you’ve met and spoken to than somebody you’re found online. These personal connections can be long-lasting and profitable. Your goal should be to establish mutually beneficial alliances. Once trust is established, the relationship can grow and business opportunities will follow.

Where to Network

So where are the best places to network? According to Copper Chronicles, there are a surprising number of places to network once you’re in a networking frame of mind. You can connect via online or in-person business functions offered by small business development centers, chambers of commerce, and Rotary clubs. You can also attend conferences, trade shows, and business networking events specifically designed to connect business leaders. You can also network at volunteer events, particularly those that are associated with your line of work or your Industry. Virtual networking is important too, – you can start with LinkedIn and your social media platforms. Don’t forget non-traditional yet effective methods – talk to other parents at kids’ sporting events, go to charitable events and fundraisers, join your local PTO, and if you belong to a house of worship, serve on a committee and arrive before service for coffee and connecting.

Preparing to Network

Before you start seriously networking, make sure your business is well-positioned. This means having a website, social media presence, and a business card that has your business name, your name, your website, contact information, and potentially on the back, a few bullets, or a brief overview of the products and services your company provides. To make a memorable impression, consider looking for a way to design your own business cards. Using a premade template for your cards allows you to customize your work by adding images, text color, and the fonts of your choice. Make sure your card matches your company brand so you make a notable impact.

Maintaining Networks

In addition to building networks, maintaining them is also important from a customer relationship management perspective. Don’t consider the people you’re connecting with as just “leads,” but rather, as people you can learn from and build a foundation with. In other words, develop a relationship in which you stay in touch, get coffee or lunch, offer support where you can in the form of referrals, and take an actual interest in them and their business. Establishing trust and learning about one another’s business goals can aid in finding ways to collaborate. According to Business News Daily, giving more than you ask for is another great way to establish solid connections.

While there’s nothing new about the concept of networking, digital marketing has allowed us to connect in a number of different ways, some of which will require different approaches. Be strategic in your approach to ensure you’re getting connected to the people most likely to help you build and grow your business. Click To Tweet

ITB Business Partners – Management Consultants help business managers solve their problems by matching them with high-quality independent management consultants who are experienced leaders, discipline experts, and project managers. Visit the site to learn more, sign up for the company newsletter, and reach out directly for more information.

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

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