Starting A Retail Business Retail Key Performance Indicators (kpi) Maximise Sales

Starting a retail business means youre excited. Did you know by adopting Best Practice Retail Sales Performance Standards you can immediately increase your sales and profit expectations by as much as 30%!

Why because achieving sales objectives is more than just about whats on your shelves and what your store looks like its about having a customer focused mentality driven by key performance indicators (KPI) to inform staff at every level about the condition of the playing field.

Complicated? Not at all. Retail Sales Performance is just like Sports Coaching. How would sports coaches know how to focus their athletes without statistics? How would racing car managers know how to fine tune their engines and performance its all about statistics. When last did you watch a game on TV without them? They tell us about trends, behaviors, opportunities to increase performance, and they forecast the short to medium term future enabling us to understand why and where we are heading.

Statistical measurement of fundamental sales performance drivers for any retailer is a prime need. With all manner of spreadsheets, POS systems reports, Dashboards and Scorecards, we use Key Performance Indicators (KPI) to communicate the strategy of the shareholders to the individuals in the company and we employ feedback systems to report the results. It is common practice to compare what we have forecast with what has actually taken place statistically so we can make judgments, changes and plans.

It is important to recognise that the standard (senior level) business indicators such as profit margin and wage costs do not drive bottom line sales on the shop floor. You cannot walk up to a Salesperson and say We did 80% of budgeted sales please increase your performance. Thats like the manager of a football team saying to a player We lost the past few games you have to do better. To the salesperson or player the information is useless they cannot see a clear reason for their under performance.

What sports coaches do is take the Team Managers expectations (of winning) and filter them down to each individual player on the team so each player can win for them (and the team). The coach measures performance of a few highly enlightening KPIs that tells the players exactly in which areas to improve. In soccer it may be recording the number of times a player touched the ball, or number of attempts at goal. In baseball the coach could track number of players on 3rd base or number of strike outs etc.

It is common practice in retail to employ only five (5) KPIs to track individual performance and deliver the on-target information for coaching purposes more than five and the reporting system is too complex, confusing, and ambiguous. The five KPIs for retailers are:

Sales per hour – a statistic tells us about the speed at which each individual salesperson is selling or attending to customers compared to everyone else on the shift.

Average Sale the average selling price of each individual salesperson compared to everyone else on the shift higher averages show a greater knowledge of product as the salesperson is able to sell higher ticket items. Low statistics reveal the salesperson lacks skill in either product knowledge or effective probing.

Items Per Sale tells us about the ability of the salesperson to add-on to a sale.

Conversion Rate tracks how many visitors to the store are turned into customers.

Wage to Sales Ratio compares a salespersons hourly wages to hourly sales. This KPI identifies your clear performers and underperformers and their value to you.

The most common reason retailers do not track the five vital KPIs at a staff (team player) level, is their inability to easily and quickly, record and calculate data, to create meaningful reports. After all, one needs to track hours worked, set goals, track planned versus actual performance, and somehow level the playing field for all Salespeople. It can be a lot of work.

In a sports match the playing field is level at all times because everyone is simultaneously on the field. In a retail environment some salespeople will work during fast periods and others during slow periods of the day. A salesperson working during the lunch hours should be expected to sell more than a salesperson working early morning or late afternoon. So any realistic reporting system is going to have to weight individual sales targets otherwise the data becomes ambiguous.

Critical to any Retail Sales Management Solution is the ability to determine the most deficient statistic of the five KPIs because it is logically understood that improving the worst KPI first will have the greatest increase in sales and staff motivation.

Imagine if you had a really simple to use Staff Roster (time and attendance software) that automatically assigned individual, weighted, sales targets to each salesperson, based on when they were working then integrated with your POS (point of sale) terminal to instantly calculate the five (5) key performance indicators, and figure out the most deficient KPI – on demand! What if that software went further by having integrated sales behavior coaching tips built right into the system?

Playing the retail sales game to win means knowing why you are losing and how to go about fixing problem behavior areas. It’s easier to improve retail sales skills than it is to re-stock a new product or brand.

To win in retail, measure the five principal KPIs using an affordable solution and put Best Practice in place for your fast track to success.

Good luck with your brand new store!

Limousines Can Help You Close our Business Deals n Style

A bun person wh wnt t l a dl sure nd t rjt a successful image even f he/she hn’t hvd tht level f u. Just mgn a CEO f a Fnnng company arriving t a business dnnr n a taxi cab!, you nd I knw we wuldn’t do bun wth a person lk tht, because a uful rn wuld rrv ung rr transportation such a limousine r elegant sedan.

Blv t or nt, ll f th mll t gnfnt details mk a big dffrn t the tm a bun dl is being thd and closed. Th becomes mwht f a rqurmnt if u have business lnt ltd in mrtnt areas such Bvrl Hll, Las Vg, Sn Frn, Hnlulu, New Yrk, Washington DC, t.

Lt tk Washington DC an xml. n th Brntwd DC area there r properties vlud vr $800,000 dllr. It lmt rtn tht rltr nd ln officers trng t mr nd buld a relationship wth thr client wuld rnt a limousines in Whngtn DC or limo rental services in VA t give them a grnd tur rund these rtgu neighborhoods. It only mk n tht mn wh willing to pay n $800 thund r 1 million + mrtgg wuld b ntrtd n tl.

Signing a bg bun deal n a lmun or limousine rentals washington dc while tkng a tur rund the Washington DC r is sure to make a mrn n ur lnt, ftr ll, t bt ttng down n a boring ff!. Th rdu a sense of wnrh and mk th lnt mgn wht t wuld b lk t tull live n this great Whngtn DC area. As a business owner u might b interested t knw tht ll f these Washington DC limousine rides or or tull tax ddutbl u dn’t have t worry but incurring in great xn.

This w u n mk a grt mrn n ur lnt, project a successful mg, nd tll gt the benefits f tx deductions. By the w, ml, hmgn bttl, etc can l b wrttn ff business xn to qulf for tx deductions, ftr all you used ll of these resources to l a business dl. A bun person wh wnt t l a dl sure nd t rjt a successful image even f he/she hn’t hvd tht level f u. Just mgn a CEO f a Fnnng company arriving t a business dnnr n a taxi cab!, you nd I knw we wuldn’t do bun wth a person lk tht, because a uful rn wuld rrv ung rr transportation such a limousine r elegant sedan.

Blv t or nt, ll f th mll t gnfnt details mk a big dffrn t the tm a bun dl is being thd and closed. Th becomes mwht f a rqurmnt if u have business lnt ltd in mrtnt areas such Bvrl Hll, Las Vg, Sn Frn, Hnlulu, New Yrk, Washington DC, t.

Lt tk Washington DC an xml. n th Brntwd DC area there r properties vlud vr $800,000 dllr. It lmt rtn tht rltr nd ln officers trng t mr nd buld a relationship wth thr client wuld rnt a limousines in Whngtn DC or limo rental services in VA t give them a grnd tur rund these rtgu neighborhoods. It only mk n tht mn wh willing to pay n $800 thund r 1 million + mrtgg wuld b ntrtd n tl.

Signing a bg bun deal n a lmun or limousine rentals washington dc while tkng a tur rund the Washington DC r is sure to make a mrn n ur lnt, ftr ll, t bt ttng down n a boring ff!. Th rdu a sense of wnrh and mk th lnt mgn wht t wuld b lk t tull live n this great Whngtn DC area. As a business owner u might b interested t knw tht ll f these Washington DC limousine rides or or tull tax ddutbl u dn’t have t worry but incurring in great xn.

This w u n mk a grt mrn n ur lnt, project a successful mg, nd tll gt the benefits f tx deductions. By the w, ml, hmgn bttl, etc can l b wrttn ff business xn to qulf for tx deductions, ftr all you used ll of these resources to l a business dl.

Make A Name For Yourself In The Pr Industry In Delhi

Public relations in India have become one of the most sought after professions amongst the youth. It is a prestigious and demanding industry and many reputed international PR organizations have opened their offices here and are doing excellent business. In the times of effective communications, it is of utmost importance that your voice is heard at the right place and the right time. This is where one should make the best use of the PR platform. The last decade has been a witness to the meteoric rise of this sector where both Indian and multinational firms have flourished extensively.

Earlier when people talked about wanting to be in the media sector, the only option left to them was to become a journalist. The boundaries of media were limited to journalism only. But as times changed and boundaries were pushed, people realized the potential of the public relations industry. People with a powerful knack to influence other people and to mould constructive opinion are fit for the job of a PR consultant. A thorough, in depth knowledge of the media fraternity and how it functions is also an essential pre-requisite. Those wanting to make a mark in this domain can take up a professional course and upon completion, can join any of the reputed public relation firms in Delhi or in any other cities.

There are many challenging yet interesting services that are offered in this industry. Since the image of your client is your primary responsibility, you should do your best to live up to their expectation. Positioning them in the right media platform and garnering positive responses for them is one of the foremost duties of a PR professional. You also get to meet the whos who of the corporate, bureaucrat and glamorous world. At the same time, you should be ready to face any crisis situation that might befall upon your client.

There are many renowned media agencies in Delhi and one of the leading agencies is Publicist Network Pvt. Ltd. Established in the year 2010 in New Delhi, Publicist has made a strong presence within a short span of time. It is a goal oriented organization and believes in delivering tangible results to its clients. Its team of dedicated professionals bring onboard years of experience in different sectors like real estate, automobile, entertainment, etc. Owning to its excellent performance, Publicist was awarded Emerging Communications Consultancy Firm of the Year by Study World and the Best PR Agency award presented by Indian Realty Awards.

How to Lower Costs in the Interlining Industry

There are so many strategies go in to making your company run and be successful. One aspect that is very important in a successful business model is making sure that your company is being run efficiently, so is that in the interlining industry. When talking about lowering the costs in the company, many executives only focus on procurement costs and operational costs. For example, from the view of the director in the procurement team, a balanced budget control on base fabrics for products of woven interlining, non-woven interlining and fusible interlining is essential, but mine are focusing on the strategic planning. One of them is efficiency in the business model. Efficiency is a tool to run the company successfully, but at the same time we must make sure the total costs are not increasing. Here are some tips on how to increase efficiency while lowering costs, which are applicable for the manufacturers of woven interlining, non-woven interlining and fusible interlining.

The first tip to increase efficiency while lowering costs is to have contingency measures to keep the employees busy during machine down time. The machine down time is a part of interlining manufacturing as the production lines need to be switched for products of woven interlining, non-woven interlining and fusible interlining, or have maintenance done to the machines. Making full use of the machine down time will certainly make a positive effect on increasing the efficiency. For instance, having the production lines organized and working space clean during the machine down time will help saving costs on housekeeping and have less time wasted, as everything is well-organized and available for the employees to use.

The second tip to increase efficiency while lowering costs is to provide the excellent customer service. It is already the era to provide excellent service rather than only merchandises like woven interlining, non-woven interlining and fusible interlining in the interlining industry. Pioneer interlining suppliers like us are striving for providing the best customer service. This will help us have efficiency when dealing with clients as they tend to keep coming back. On the contrary, the companies might not get very far without excellent customer service even if they spend a lot on advertising.

The third tip to increase efficiency while lowering costs is to control the defect rate. There should be some strategies to control the defect rate on the manufacturing process of woven interlining, non-woven interlining and fusible interlining, to have as little waste as possible. This will help save money on the materials and time on the manufacturing procedures, as you dont need to use as many resources as before. This defect rate control, in other words, contributes to increasing the efficiency.

The fourth tip to increase efficiency while lowering costs is to remove the middle man. You should go into details of each single part of the supply chain to see whether there is a middle man. This will not only help save money, but guarantee the quality of your supplies for woven interlining, non-woven interlining and fusible interlining, to remove the inefficiency caused by re-ordering in the supply chain; also conduct at least one check around each year to see whether you are still getting the best price on the supplies.

The Real Definition of a Enterprise Strategy

Thank you Dr. Richard Rumelt.”

I always knew I was excellent at devising techniques for the organization possibilities that came my way, but I never ever gave a lot thought to what a organization tactic really was. In Dr. Rumelt’s interview with Dan P. Lovallo and Lenny T. Mendonca as introduced in The McKinsey Quarterly, he nailed it!/p>

In contrast to a company plan which is usually performed on a repetitive time frequency, a company technique program is done when an opportunity or a crisis takes place. Some companies could go for very some time devoid of at any time getting the want to do a technique plan. Other people may possibly do them often.

At the heart of a strategy strategy is the recognition of the opportunity (or the crisis) when it takes place and the comprehending of whether the sources available (money, expertise and time) can be deployed to take advantage of the chance. Once content that the right assets are accessible and that the possibility passes the check of currently being worthwhile, the business leader has to devise the tactic to create a successful end result.

Dr. Rumelt utilizes Steve Careers success with the iPod as the end result a strategic plan can create. In fact Careers was so excellent at comprehending the genuine meaning of company strategy what it was, that it occurred without having respect to dates on a calendar and that it depended on recognizing that some thing was taking place, that when he was asked, “What are you undertaking? What’s the lengthy expression technique (for Apple)?”

Careers replied, “I am heading to wait for the subsequent massive factor.”

And when he understood what was happening with the want getting expressed in the marketplace and how the technology Apple was currently employing he leaped at the opportunity he noticed.

The strategic strategy is what need to be utilised whenever anyone recognizes the predicament Dr. Rumelt labels, “price denial.” Basically described this scenario is when there is an unfulfilled need to have that buyers will spend for which no one is providing to fill. His instance is the substantial fee of misplaced baggage occurrences now taking place in the airline market.

Would the buyer spend for a baggage delivery ensure? Indeed. Is such a support being supplied? No. Why not? Definitely the airlines could figure out how considerably they would have to charge for this services which, in a entirely ridiculous solution, could be provided by getting employees hand location the insured pieces of luggage in a special compartment on the plane and hand retrieve very same upon arrival. But this support is not accessible, the client is denied this service.
This is a earnings generator the airlines are lacking.

That’s what accurate strategic organizing is all about how to increase the possibility and decrease the crisis. Such a strategy is not done yearly it is done when the option or the need to have arises.

In a properly run organization (defined right here as one particular with couple of if any crisis) exactly where the leader has encouraged actively in search of out opportunities, strategic organizing ought to be heading on all the time. Besides creating new profit centers this practice will generate a considerably more powerful management crew and an abundance of mentoring situations which will provide out the very best of all involved.
Apple Jobs

Advantages Of Internet Forum Marketing

If you also deal in the online marketing methods, you ought to ensure that you are investing some simple and uncomplicated plans and strategies to carry out the related tasks. You do not require any typical or sophisticated strategies when you are dealing in this field. Here are some online marketing policies which can bring you close to some deserving incomes.

As much as the internet marketing is pertained, you must make sure that you are conscious about the market stores which are targeted by you! These individuals can use your products to sell and generate their own incomes. It is this place where you can use the online forums and generate some outstanding revenues. The internet forum is the online conversation group. It is a platform where people can interchange their ideas and strategies which are related with the online marketing and common interest.

The internet policy which is used by you to register for the forum can help you to introduce the product which is advertized by you! There are many people who stand perplexed and make the continuous efforts to launch the profile which can embrace your websites. There are countless forums which can help you to compose the signature file and compose the short list or ad which can help you to introduce the trade which is being dealt by you!

Never fail to remember that you should develop the address for your website. You must fall short to retain the information that you have to create the address for the website which is developed by you! As soon as the visitors read your signature file or the profile, they will turn eager to know about the product which is being publicized by you!

This is possibly one of the easiest and unsophisticated methods which can help you to come close to your target! This is the best idea which can help you to generate thousand dollars in the upcoming years! The reason for this huge scope is that most of the forums can help you to come across the useful content.

The well-organized and unsophisticated forums can attract the traffic and compel them to visit the site over and over again! Spaced out from all this, it is a free training for every individual who wants to generate income in this field. You can easily be trained to come across the people who post some valuable and unbeaten content in their forums.

The internet marketing strategy is on of the easiest way to generate the profits in this field! Of course, it will take some time and needs the investment of quality efforts, but you can come close to some grand profits which can be enjoyed on a long run!

Outdoor Advertising Is A Fail Proof Method To Attract The Target Audience

Outdoor advertising is an integral part of all marketing campaigns. This type of marketing offers you the widest range possible and is made very eye catching by the advertising company.Research shows that a passerby notices an out of home advertising medium more than any other with billboard advertising, hoardings etc surrounding all of us when we step out of our homes and offices. This form of outdoor advertising has been found to be very cost effective and greatly increases the target coverage.

Among the most respected Out of Home advertising companies in the USA today is the Interstate Outdoor Advertising Company. This company has been in this industry for over 25 years and with the acquisition of R.C Maxwell Company a pioneer in advertising in America helped it to become one of the largest out of home advertising companies.Today they are among the fastest growing outdoor advertising companies in the world and have more than 1000 outdoor locations. They have a presence in virtually every location in the USA and when an advertising campaign is worked out the target audience is identified and the company ensures that every possible means of out of home media is employed in order to catch the audiences eye.

Some of their fail proof methods in outdoor advertising are Bulletins, 30 Sheet posters, Transit Shelters, Kiosks, Vertaculars, Trestles, Wallscapes and Spectaculars and the time tested Billboard advertising.These out of home media products are located strategically at major malls, airports, freeways, arterial roads, on pavements in busy areas etc and manage to catch the attention of passersby.

Some of the biggest names in products have advertised through Interstate Outdoor Advertising.You can view their ads and also the types of advertising mediums that are used by this for out of home advertising on their website www.interstateoutdoor.com.The site is very informative and detailed and with the help of videos, pictures and testimonials from their various clients will be able to convince you about how well they can advertise for you.

They will handle all the work that goes with advertising outdoors from the required permission to planning and designing your ad campaign. Their staff is very professional and are all experts in this field with each having many years of experience in this field of out of home media advertising and will definitely live up to the great reputation that they have.

China Steel Industry – Overview, Trends, Prospects And Swot Analysis

Emerging Markets Direct (EMD) announced the release of their latest China Steel Industry Report 2H10. It states that China ranked number one in crude steel production (reaches 567.8 million metric tons) again in 2009, which is 13.5% higher than previous year and sharing 46.3% of the world’s total.

The report first profiles the China Steel Industry.Driven by China’s economic development, production of steel reached 426.6 million tons as of August 2010, and is expected to reach 640 million tons for the full year. Finished steel products also increased significantly, EMD outlines the growth scenario of finished steel products, out of which heavy rail track material has an impressive growth of 52.8%.

The Chinese industry is highly fragmented with approximately 800 steel mills, majority state-owned in nature. EMD lists out the production by province out of which Hebei province comes first among other Chinese provinces (22% of total China production).

The EMD report then covers market trends and outlook. The Chinese government introduced measures to curb the over-heated property market in August 2010. According to our report, China’s steel consumption is expected to decelerate in 2011. As the no.1 steel importing country, what will be the impact? EMD gives you an overview of the import numbers and steel price.
It also provides a discussion on the export market. In 2009, China fell from no.1 to no.4 in the export of steel product. Exports rose by 153% YoY in the first half of 2010 due to the revival of the marco-economic condition. With the removal of tax rebates on certain steal products in July, will exports still increase in the coming months? What is the impact of China exports on other ASEAN countries?

What are the prospects of the China steel sector? What is the outlook for steel price? How does the performance differ between Chinese and non-Chinese steel producers? What are the factors leading to the difference in their EBITDA? The China Steel Industry report gives you the background to answer these questions.

Finally, it describes the competitive landscape and leading players of the industry. The China Steel Industry report provides basic company profile, history, financial highlights, performance data, recent development and SWOT analysis of Shanghai Baosteel Group Corporation, Baosteel Co. Ltd, Anshan Iron & Steel Group, Angang Steel Company Ltd., Wuhan Iron & Steel Group, Hebei Iron & Steel Group Company Ltd.

Table of Content
1. Industry Profile
1.1 Global Steel Industry
1.2 China Steel Industry
1.2.1 The Structure of the Industry
1.2.2 Fragmentation of the Chinese Steel Industry
1.3 Industry Production
1.3.1 Production of Steel Products
1.3.2 Production by Province
2. Market Trends and Outlook
2.1 Steel Consumption
2.2 Imports Market
2.3 Exports Market
2.3.1 Impact of China Export on Southeast Asia
2.4 Prices
2.5 Market Outlook
3. Leading Players and Comparative Matrix
3.1 Leading Players
3.1.1 Shanghai Baosteel Group Corporation
3.1.1.1 Baosteel Co. Ltd
3.1.2 Anshan Iron & Steel Group Corporation
3.1.2.1 Angang Steel Company Ltd
3.1.3 Wuhan Iron & Steel Group
3.1.4 Hebei Iron & Steel Group Company Ltd
3.2 Comparative Matrix
3.3 SWOT Analysis

4. Tables and Charts
Table 1: Major Steel Producing Countries (million metric tons) in 2008 and 2009
Table 2: Top 20 Steel Exporting Countries in 2009 (million metric tons)
Table 3: Top 20 Steel Importing Countries in 2009 (million metric tons)
Table 4: Major Chinese Steel Producers (million tons) in 2008 and 2009
Table 5: Production of Finished Steel Products (thousand tons) in 2008 and 2009
Table 6: Steel Production by Province (thousand tons) in 2008 and 2009
Table 7: Steel Imports by Quantity (thousand tons) from 2003 to 2009
Table 8: Steel Export by Quantity (thousand tons) from 2003 to 2009
Table 9: Price of Whorl Steel 22mm Q235 by Province (RMB per ton) from 2006 to 2009
Table 10: Baosteel Co. Ltd Distribution of Business Income and Cost of Principal Business Segments (RMB million)
Table 11: Leading Players Financial Highlights 2008 and 2009
Chart 1: World Crude Steel Production (‘000 metric tons) from 2003 – 2009
Chart 2: World Steel Production by Geographical Distribution in 2009
Chart 3: Production of Steel and Steel Products from 2001 to August 2010
Chart 4: Production of Iron Ore, Pig Iron and Coke from 2002 to August 2010
Chart 5: Production of Steel Billet by Large and Medium Enterprises from 2002 to August 2010
Chart 6: Imports of Iron Ore from 2000 to 2008
Chart 7: Steel Product Exports in China from January 2009 to August 2010
Chart 8: Exports of Selected Steel Products by Value from 2007 to August 2010
Chart 9: Trade Balance of Iron & Steel from 2005 to August 2010
Chart 10: Prices of Selected Steel Products (RMB per ton) from January 2009 to July 2010
Chart 11: EBITDA per Ton Forecast from 2004 to 2011
Chart 12: EBITDA per Ton by Region from 2006 to 2015
Chart 13: Baosteel Co. Ltd Distribution of Steel and Steel Products

About Emerging Markets Direct
Emerging Markets Direct is the online research store from ISI Emerging Markets, a Euromoney Institutional Investor Company. We deliver in-house industry research report, industry analysis and data vital to support all kinds of business decision, academic and research purposes. Our flagship product Emerging Markets Direct Report covers the top 20 industry sectors of India, China, Malaysia, Thailand, Indonesia, Vietnam and Indonesia. ISI Emerging Marketsin-house analysts crunch the numbers from our proprietary CEICdatabases and combine the results with on-the ground industry insight. The result is reliable, hard-to-get industry data, analysis and insight. Previously available only to subscribers of the ISI Emerging Markets Information Service,Emerging Market Direct reports are available now at our online research store. Our Other products are: CEIC snapshots, CEIC datatalk, Intellinews.

Why Real Estate Investment Includes Risk Analysis

The bottom line about any real estate investment analysis is that it is a risk analysis. If risk was not an issue with investing, and all the results of any given investment were known with certainty, than creating an analysis for any type of real estate investment would simply be a matter of arithmetic. But the truth about real estate investing is that many factors come into play (i.e., the economy, tenant trends, etc.) that make it impossible to ever know with absolute certainty enough about a typical property to remove every element of the unknown.

Since the ability to accept varying levels of risk will differ from investor to investor, many simply avoid real estate altogether and opt to put their money only in relatively risk-free investments such as government Treasury bills. But the price for this lower level of insecurity, of course, is a lower rate of return. Why, because a relationship always exists between risk and rate of return. Therefore, when investors are attracted to the certainty, they in effect force down the rate of return they are willing to accept as a tradeoff for their unwillingness to accept uncertainty.

Okay, so what about the risk takers? What can investors who prefer to collect the higher rates of return associated with real estate investment do to deal with (and perhaps minimize) the ambiguity? Investors must exploit tools that can potentially measure this risk. One method is by applying what is known as a “probability distribution” to prospective real estate investment opportunities.

For example, rather than using just one set of rents to ascertain potential cash flows and returns for a rental property, the investor should consider several rent scenarios that reflect an estimated probability of their occurrence.

In my real estate investment software, for instance, a form is provided that allows users to apply three different rent scenarios to a rental property. This way, rather than just having to accept whatever rents are presented by the seller, the investor can analyze the cash flows and returns based upon a range of rent probabilities (i.e., most likely, somewhat likely, and not likely but “wow, wouldn’t it be great”).

The logic is straightforward. Say, for example, that you’re doing an analysis on a ten-unit apartment complex made up of ten two-bedroom, one-bath units each reportedly with the potential of renting for $700 per month. My own experience warns me that “potential” rents may (or may not) be likely, so I always prefer to run my own rent scenarios. In this case, then, you would use our Rent Scenarios form and assign three rent probabilities based upon your own measurement of risk, and instantly you are the results so you can analyze what impact each rent might have on cash flows, rates of return, and profitability. The outcome if monthly rents are more likely at $650, for instance, could affect your willingness to chance buying the property.

This is only one of a variety of mathematical and statistical approaches to risk analysis that will help you address the uncertainties of real estate investment. But you get the idea. The best way to deal with uncertainty is to measure it. And the probability distribution we illustrated for rents is a good first step.

You can see a screenshot of our Rent Scenarios form at http://www.proapod.com/Tour/basic/screenshot_4.htm

Companies Need Creativity And Innovation To Move Forward

We aren’t all mind readers; we can’t say that we are all the
same as well. There are those who are truly better than others in some
things but not into everything. Like a person who really runs very fast
and joins marathons and runs races, maybe those guys aren’t that good in
math. We all have our strengths and our weaknesses and if we are smart
enough we should be banking on those strong points than force ourselves
to do good on work which we are weak in. our creativity and innovation
truly shines in those areas where our talent can be exploited, yeah sure
we also need to work on the field which we are weak in but wouldn’t
society benefit from us if we work in our best?

To be honest people nowadays seem to only think of
one goal, earning money, not everyone mind you but most. Companies only
want to earn profit, they see something that works, they train everyone
to mimic that brilliant idea and exhaust that technique till it’s
ineffective. Now how about we let those employees work on the same
techniques but don’t limit them? Would that work?

Of course it
will, probably some of these people who just blindly follow into those
who are in position to lead have their own ideas on how to better the
process that is already used. Maybe these people know how to innovate,
now to use creativity to boost production. We aren’t truly the only ones
smart in this world, and if we are open to that idea, we can then pool
up our knowledge and have a better world.


So just the fact that we don’t know people as much as we know ourselves
leaves us to think that, maybe that guy you pass by in the hallways
every morning knows more than you do about your job. Maybe it time you
get to open your mind to the idea that conducting a study once and a
while, asking around people how to make something better, which in truth
is just a front for you to know more about how to upgrade your work
techniques, is what you need. Companies that do not know how to innovate
are the ones that slowly lose their business and customers. A business
can’t lay stagnant, they have to grow and flow with the tide.


The more you think about it the more you will understand that even
though your company is doing good today, if you don’t upgrade you ideas,
if you don’t try to be more creative, you will lose a lot more that you
think. We have to move with time, play it how a smart man will.