The Manager's Resource Handbook
Tools, Resources and Guides for Managers and Business Leaders. Real Advice from Real Bosses.
How to Negotiate and Manage Customer Requirements Seven years ago, my company was on the losing end of a $4 Million settlement. I could write a lengthy explanation as to how things got there, but it came down to one very simple thing: we gave our customer what we thought they wanted, not what they said they wanted. It was
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Before the RFP: Key Messages That Position You for Success Winning a contract comes down to finding mutual value between you and the client. The concept of value goes beyond the financial numbers, though, and is really a combination of price, product, services and trust. When you receive a Request for Proposal (RFP) from a client, how do you demonstrate the value you can
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6 Reasons to Sign a Contract Even if You Won’t Make Money With all the talk about powerhouse brands like Amazon, UBER and Apple, we often hear about companies experiencing rapid growth and making record profits. But these firms are clearly exceptions to the norms that countless small businesses experience. Without a doubt, every business owner wants to be profitable and hopes
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The 4P Marketing Model: A Case Study On a recent business trip to China, tired of taxis, elevators, conference rooms and hotels, I went out for a walk one night. My translator, whose chosen English name was Martin, elected to stay at the hotel to do some work. Always wanting to try something different, my walk coincided with my secret
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A little while back we posted an article about writing a reply to an RFP (Request for Proposal), which provided a basic outline for responding to potential clients. Since then, we have received a lot of questions from the MRH community asking for details on formats to use as well as what sort of sections and content to include. So, we wanted
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Isn’t the Customer Always Right? Actually, no, they aren’t! In the B2B space, we often find ourselves working with clients and customers to develop and sell our products and services. And yet, sometimes, things do not always go as planned. I recently paid a visit to one customer who has started to change the rules as they go. Despite the contractual commitments
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Navigate the Challenges of Contract Negotiations in the People’s Republic A Fortune 200 executive once told me “No CEO wants it on his or her watch that they missed out on China.” It goes without saying that the world’s largest marketplace is a force to be reckoned with. As anyone who has worked with Chinese companies knows, doing business and negotiating in
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A Good Capture Strategy is More Than Just a Good Price Last week, I sat through a capture strategy meeting. The sales manager responsible for the territory was presenting a new opportunity to the management team and walked us through the capture efforts. Financially, the business case looked good. The level of risk seemed low, and the customer was one we did
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Common Product Development Mistakes to Avoid and How to Steer Clear Several years ago, after doubling down on our investments, running wild with our tests and sprinting through patents to make sure we would be the first to market, we were finally ready to present our new technology to our target customer – a major global airline. After spending $3
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A Basic Outline to An RFP Response When conducting business between companies, typically referred to as business-to-business or B2B, most opportunities and contracts are generated through a process of bid solicitation. Businesses looking to outsource services will often issue what is known as a Request for Proposal (RFP) to seek information from various vendors and suppliers who they believe can do the
» Read more Competitor or Partner? It’s Not Always David Vs. Goliath Note to Reader: Competitor names are changes for privacy reasons. Last month, I was asked by a client to participate in a visit to some of their customers. The client, Acme Electric, wanted to meet with some of their smaller customers with the hopes of growing their existing sales volume
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Understanding the Business Benefits of Airline Alliances We often hear about partnerships in business, but what does this actually mean? How do they work? Regardless of the form they may take, be it a licensing deal, a revenue sharing arrangement, or a full blow Joint Venture, partnerships are designed to maximize the expertise and strengths of each partner and can make good business
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Why Consider a Horizontal Integration Strategy? Just about every firm continuously tweaks and looks for new ways to optimize their operation in the pursuit of growth and profits. In the early 2000s, made even more possible by a rapidly expanding internet, just about every industry seemed to jump on the outsourcing bandwagon. The thought was simple: why expend internal resources on
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How Can Technology Help (Or Hurt) Your Customers? As I waited for my flight to Amsterdam today, I grabbed a bite to eat at the nearby café. It was a late afternoon flight that would get me in around 7PM – just enough time to get dinner with an old friend, who was to pick me up at the
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“Unlike pizza toppings, more marketing is not always better.” I heard this phrase on a radio show not too long ago, and thought it was a stroke of genius. There are a myriad of marketing channels out there, some free, some expensive. Marketing exists in a variety of forms such as radio ads, clever roadside billboards, or simply the printed
» Read more How to Communicate Your Value Proposition to Customers Companies compete on a daily basis for a finite amount of sales and revenue in the market. Whether we are a small business, a conglomerate, a B2B or B2C firm, we all have competitors. As we chase the next sale, the next contract or the next service appointment, though, there are ways of
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Basic Lessons in Customer Service When it comes to working with customers, there are numerous ways to make a lasting impression that will bring them back to you time and time again. Sometimes a friendly tone of voice over the phone is all it takes to win a customer over. Perhaps your quick response time is all the customer needs
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Identifying What Customers Value Think about the last time you went into a store prepared to buy something, but eventually left empty-handed. What was the reason you, as a customer, did not make that purchase? There are many possible answers to this question; maybe it was too expensive, the quality may not have been to your liking, or you simply
» Read more Why Your Employees Need to Learn the Local Culture As technology advances, the world gets smaller and smaller. Email, conference calls and WeChat offer us instant communication to opposite ends of the globe. Whether you routinely jet set to far away places to meet with your customers, or you never leave your comfort of your office, working alongside people from another culture
» Read more How to Grow Your Small Business We recently worked with a small company to assist with their business development struggles. The CEO described his company’s situation as “able to perform well when we can actually get in the door.” The company employed about 20 employees and worked in the IT services industry. MRH conducted an evaluation of the business, focusing
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