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The 5 Senses of Marketing: How to Utilize Sensory Marketing

by Alicia Williams

Was it the horsepower under the hood, the power train, the transmission or maybe even the entertainment system? Was it the design, the color or the price?

If you’re like most of us, you’ll have answered, “A combination of all of the above.” But did you know your purchase decision was likely influenced by subconscious cues built into the car?

 

7 New Types of Leadership Models for Innovative Thinkers

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Ten Facts About Bonuses

  1. Money required for bonuses comes from profit which belongs to shareholders. It should only be invested in bonuses if it will increase shareholder wealth and/or financial security.
  2. If bonuses are distributed too widely among employees, the individual bonuses are invariably too small to act as profit motivators.
  3. Small bonuses for outstanding performers are inadequate rewards that probably act as demotivators, and do not motivate continued high performance.
  4. Bonuses should be at least 10 percent of an employee’s annual salary, and preferably much higher, if the bonus is expected to motivate continued high performance again next year.
  5. Bonuses distributed to most employees as the ‘same percentage of annual salaries’ become an entitlement after two years and do not motivate high performance.
  6. Firms cannot continue to pay out large bonuses unless they generate high profits in most fiscal years.
  7. Executives, managers and other key employees such as chief engineers, principal designers and business developers have greater impact on a company’s success than employees performing roles at lower organizational levels, so naturally they will be eligible for bonuses, and their bonuses should be larger than many other employees.
  8. Outstanding performers’ income packages should include a market-related salary, the opportunity to purchase shares in the company, and an outstanding incentive bonus.
  9. An out-of-date business culture can mask unacceptable productivity levels and dangerous marketing problems, both of which contribute to reduced profit and small or no bonuses.
  10. Some employees believe that they are already working very hard (input) and should receive a bonus when, in reality their performance level (output) is less than adequate.

 

 

 

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Business Ratios

Here is a glossary of terms regarding various business ratios.

Current Ratio

Measures whether or not the firm has enough resources to pay its debt over the next 12 months – formula:

Current Ratio = Current Assets ÷ Current Liabilities

Acceptable ratios are between 1.5 and 2 – below 1 the company may of issues meeting its short term obligations

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5 Steps to Building a PR Campaign

  1. Identify the story you want to share with the public: What makes it unique, compelling news?
  2. Set your objectives for the press release: for example do you want to announce a new product at your organization or how you are helping save an endangered animal?
  3. Prepare your draft message: Gather your facts…
  4. Write your release (see the example in the resource section)
  5. Submit your release and follow up with a phone call or email: ideally within 5 days of submitting

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