Implementing Social Customer Relationship Management in Retail

Management consultant, blog writer, dreamer

One of the most important goals for retailers is to maintain long-term and profitable relationships with their customers. The construct Customer Relationship Management (CRM) started when retailers moved the orientation of their business from their companies to their customers. However, the advent of the internet, Web 2.0, and online social networks have disrupted the traditional way that retailers communicated with their customers.  Hence, Social Customer Relationship Management (SCRM) came to the fore because of the emergence of a “social customer”.

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Home-based business – Important Startup Strategies

Management consultant, blog writer, dreamer

There are millions of entrepreneurs that do their business from their homes. In fact, according to IncFile.com, home-based business was done by at least 38 million Americans during 2017.

Although the idea of doing business from your home sounds informal and casual, entrepreneurs should do the following suggests Casey Kelly-Barton in the HostGator Blog.

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Webrooming and Showrooming – Buying Behaviors of Retail Customers in Virtual and Physical Environments

Management consultant, blog writer, dreamer

Webrooming and showrooming are popular jargons that describe how retail customers use different combinations of online and physical channels to search for information about products, corroborate this information and make the purchase 4. These customers are tech savvy and they use their mobile phones to great effect to help them to decide what to buy where and at what price.

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Borrowing Money from a Bank to Start your Business

Management consultant, blog writer, dreamer

Borrowing money from a bank to start your business is not an obvious option for prospective business owners. Unless you are well known, with a track record of starting and running successful businesses, no formal sources of capital are likely to invest in you in the early stages of your business 1.  Banks usually require an operating history to reduce their risk.

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Getting Money for Your Business – Other Individual Investors

Management consultant, blog writer, dreamer

Prospective business owners may approach other individual investors to get money for starting their businesses. A large number of private individuals invest in others’ entrepreneurial ventures. They are primarily people with moderate to significant business experience but may also be affluent professionals, such as lawyers and physicians 1.

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Start your Business: Borrow Money from Friends and Relatives

Management consultant, blog writer, dreamer

If you don’t have enough funds for your start-up business, you may borrow money from friends and relatives. Interesting, however, although the majority of informal investors, family and friends, is often willing to supply funds at negative returns, most prospective business owners will only as a last resort consider borrowing money from them 1.

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Using Personal Savings to Start Your Business

Management consultant, blog writer, dreamer

You, the aspiring entrepreneur, frequently have three sources of getting money to start your business: (1) personal savings, (2) friends and relatives, and (3) other individual investors. Using personal savings to start your business to start your business will now be discussed.

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Bootstrapping – Starting a New Business with Your Own Money

Management consultant, blog writer, dreamer

One of the first and most important questions that most of us ask when considering to start our own business is where the money would come from? The answer for more than 80% of start-up businesses is bootstrapping. Indeed, according to Lahm Jr and Little Jr (2005), the overwhelming majority of entrepreneurial companies are financed through this highly creative process.

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Thinking About Competing With Amazon.com? Think Again…

Management consultant, blog writer, dreamer

Competing with Amazon.com may prove to be a difficult if not an impossible challenge. You are up against an extraordinary company led by an extraordinary leader.

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