AC Interpreting

Archive for the ‘Business News’ Category

When I disagree with a rational man, I let reality be our final arbiter; if I am right he will learn; if I am wrong, I will; one of us will win, but both will profit”

-John Galt in Atlas Shrugged, Ayn Rand, 1957.

Richard Edelman, legendary founder of PR firm Edelman in New York’s Times Square, issued his 10th annual survey of global trust. His survey provides some data to further elaborate on the role of individual opinion in the world of consumer healthcare marketing.

Perhaps the lesson for advertisers is whether conventional ad campaigns are tapping into this unmet need for product “experts” by focusing on aligning personal taste to product performance, emphasizing price/value, and demystifying complexity. As to whether these “experts” are the consumer’s peers, or acknowledged experts, the Edelman trust survey provides some useful insight.

A word of caution, however, is in order. The Edelman survey interviewed 4,875 college-educated consumers who were in the top 25% of household income for their age and who also plug into business/news and public policy several times each week. These are clearly not the average Walmart shopper, nor are they representative of at-large US consumers. To extrapolate these data to understand attitudes manifest in the consumer mass market may be difficult.

Nevertheless, there are some lessons to be considered. Compared to the 2009 Edelman survey faith in business and government increased 18 and 16% respectively signaling a growing acceptance of authority. Second, the survey participants rated analyst reports and articles on business as the top two most credible sources of information for these individuals. Likewise experts and industry analysts are the top two individuals interviewee’s trust. In contrast to their trust in organizations and knowledgeable individuals only 17% of those interviewed see advertisements as trustworthy, an astounding rejection of the disembodied corporate message.

Understanding that these opinions were expressed by a fairly well-off and well-informed sample population there are some conclusions that can be reached. First, well-informed consumers increasingly are drawn to the animus of large organizations, both that of free enterprise and large government, yet at the same time they are highly skeptical of their advertising. In contradistinction, or perhaps because of it, they nevertheless highly value individual opinion as it emanates from various accepted sources.

Nielsen published its own trust survey earlier in 2009 surveying over 25,000 internet consumers worldwide. Similar to Edelman’s data these results confirm the desire of consumers to gain opinion from other individuals. This need is powerful and overshadows trust in advertising. 90% of those interviewed seek information from people they know. Of the top trusted sources of opinion only “brand websites” ranks among them. I interpret this to mean not that consumers necessarily value brand site opinion as they value opinion from individuals but that they may seek to understand brand attributes, labeling, and claims. Thus, the trustworthiness of information from individuals always trumps trust in advertising messages.

The growing thrall of government and the distance of multinationals will create an existential need for individual opinion. It appears that social networking may not entirely fill the bill as the fallacy of social networking may be best described by the axiom: “garbage in, garbage out”. However, for expert opinion to satisfy this need for individual opinion will require it to prove its independence of thought. It also needs to be accessible.

The results of these surveys do not directly provide an answer to the value the average consumer places on expert opinion relative to social inputs. What we do know, however, is that human nature seeks out information from other individuals and values that input more highly than advertising — at least in their own individual opinions.

A person who has just opted for bankruptcy may swear that he or she is not going to take a single loan henceforth. What is more, the person may just pull it off. The individual may ban credit cards from his or her life and may live on own income alone. This is definitely possible. However, do you think this is feasible from a businessman’s point of view? If you are running your own small business, can you afford to ban debts and loans from your life?

Such a move will be a ridiculous one because you will be at a perennial disadvantages compared to all other competitors in the market. Access to quick funds to take advantage of opportunities and business ventures is a must if you want to succeed in business. In such a scenario, if you start avoiding debt, you are only putting yourself at risk of long term losses. Instead, you should take steps to improve your credit score so that you qualify for low cost loans for your business.

The first and the most important point is that you should get over the guilt of filing for bankruptcy. If you stay guilty, you will never be in a position to utilize loan funds properly. You will always be contemplating upon your past decisions and you will be worried whether you will repay the existing loan or not.

Taking a new loan and repaying it promptly is the best and the easiest way to improve your credit score. You can take up a few projects and borrow funds from your bank or other sources including your credit card to finance the same. Just be prepared to pay high interest. Once you have the funds in your hand, utilize it smartly to get the best relief provide the best performance. Make sure you collect the funds owed on the project in a proper manner and channelize the same towards repayment of the debt as quickly as possible. Remember that no amount is too small as far credit repair is concerned.

Remember that your personal credit card usage may also have an impact on your business card limit. Hence, you will have to be disciplined in each and every debt transaction that you undertake if you want to get rid of your financial problems forever. If you improve you score, the negative mention of bankruptcy on your credit history and the negative effects of bankruptcy from your credit history.

There is nothing like a good positive news story to put your business on the map. Done right; it will create more attention and have more credibility than thousands of dollars worth of advertising.

The question is – how do you get news coverage for your business without it costing you any money?

Start by writing a press release. Keep it short and to the point. Do not ramble. Use short sentences and short paragraphs. Concentrate on the news angle you have come up with.

Write a good attention-grabbing headline. The purpose of the press release is not to tell your story. The sole purpose is to attract the attention of whichever journalist is assigned the task of going through that day’s pile of press releases. You will need to make that journalist stop and read your release.

It is important to understand that the journalist is not just sitting there waiting for your press release to arrive. The fact is – most press releases never get read.

The headline and first paragraph must not be boring. If it does not immediately scream “I’m newsworthy!”…then your press release will get thrown in the garbage without another glance. Journalists are busy people and have deadlines to meet.

If your press release grabs a journalist’s attention, he or she will most likely pass it on to another journalist and tell them to phone you. So you had better be by your phone waiting for the call. As I said, journalists are busy people. More news comes up all the time and if you are not home they might not phone again. Something else may crop up that appears more newsworthy.

Here is what I would do. I would send a great press release telling them why they would be crazy not to interview you. Tell them when and where you will be available for a photo and story. Not something alike “I will expect you at 63 Brown Street at 4pm Wednesday… please bring a photographer.”

It would be better to say “America’s biggest ever pizza will be crane lifted onto a truck at 4pm Tuesday before being delivered to feed poor families in South Dakota. Please phone me urgently to arrange a time and place
for an interview”

To feed poor families? Lifted by a crane…on a truck? It is a newsworthy gimmick. It is unusual, it is visual and it has “warm fuzzies” attached to the story. It will make the journalist think “photo opportunity…this is worth covering. I had better phone now.”

So, the first step to getting your news story published is to put yourself in the shoes of the journalist reading your release. The journo is looking to read something that will capture the attention and interest of the readers
(or listeners in the case of a radio station). He or she does not want to read an advertisement for your business.

The trick therefore, is to involve your business in the resulting publicity, without giving the appearance of being blatant advertising.

Business etiquette is fundamentally concerned with building relationships founded upon courtesy and politeness between business personnel. Etiquette, and especially business etiquette, is a means of maximising your potential by presenting yourself positively.

Writing a business letter is not simply a matter of expressing your ideas clearly. The way you write a letter and the etiquette you employ may have a significant impact on your success or failure in business.

Failure to observe correct business letter etiquette can result in you adopting an inappropriate tone, causing offense or misunderstandings, lack of clarity or purpose and hostility or soured relations.

The foundation of good business letter etiquette is ‘Think before you write’. You should be considering who the letter is addressed to, how and why? This will then influence style, content and structure.

Here we cover some of the main issues relating to good business letter etiquette:

Addressing the Letter

Always make sure you have spelt the recipient’s name correctly. It may sound simple, but you would be surprised at how many people fail to do so. The recipient’s name should include titles, honours or qualifications if deemed necessary.

Many people use the ‘Dear Sir/Yours Faithfully’ formula when addressing the receiver. Although this is acceptable for routine matters it is impersonal and should not be used when dealing with those you know, queries or complaints. With these the ‘Dear Mr…./Yours Sincerely’ formula should be adopted.

Once a certain level of familiarity is reached it is not considered bad etiquette to use phrases such as ‘Kind Regards’ or ‘All the best’ at the end of the letter.

Confidentiality

If the content of the letter is sensitive, personal or confidential it must be marked appropriately. Marking the letter ‘confidential’ will suffice in highlighting this fact. If you only want the letter read by the receiver without the interception of a secretary or PA, mark it as ‘Private’, ‘Personal’ or ‘Strictly Confidential’. If you have received such a business letter it is good etiquette to reciprocate and ensure that all future correspondence is kept at that level of confidentiality.

Style

Proper business letter etiquette requires that a consistent and clear approach, combined with courtesy, be employed. As a rule of thumb, aim to keep all business letters formal in style. Even when the receiver is familiar to you, it is advisable maintain a certain level of business etiquette as the letter may be seen by others or referred to by a third party in the future.

However, this does not mean you should use long or uncommon words to express yourself. This merely looks odd and makes the letter unreadable. It is best to read a letter first and consider whether you would speak to that person face to face in the same way. If not, then re-write it.

Letters should be signed personally. It looks unprofessional, cold and somewhat lazy if a letter is left unsigned. However, having a secretary or PA sign on your behalf is not considered a breach of business etiquette.

Humour

Humour can be used in business letters but only when the writer is completely positive the recipient will understand the joke or pun. From a business etiquette perspective it may be wise to avoid humour. This is because firstly, the letter may be read during a crisis, after receiving bad news or on a sombre occasion. Any other time the humour may have been appreciated but under these circumstances it may dramatically backfire. Secondly, the written word is open to misinterpretation. Your sarcastic or ironic remark may be taken the wrong way. Thirdly, it is possible that the letter may be read by a third party who may deem the humour inappropriate and pursue a complaint of some sort.

Responding

Good business letter etiquette calls for letters to be responded to promptly or within certain guidelines. This may normally be considered as 5 working days. If this is not possible then some sort of acknowledgement should be sent either by letter, fax, phone or e-mail.

Always use reference numbers or clearly state the purpose of the letter at the top, for example, ‘Re: Business Letter Etiquette Enquiry’. This allows the receiver to trace correspondence and immediately set your letter within a context.

When replying to points or questions the proper etiquette is to respond in the same order as they were asked.

Managing Conflict

Letters are often an arena for conflicts or disputes. Even in these circumstances there are rules of business letter etiquette that should be adhered to.

If you initiate the dispute then, 1) Explain and set out your case simply and clearly to the most appropriate person, 2) Offer information that may be required by the other party to help answer questions, 3) Indicate a time scale by which you expect a reply or the matter to be resolved.

If you are receiving the dispute then 1) inform senior colleagues who may be affected or who may be able to offer assistance, 2) Submit all replies in draft form for a senior colleague to check, 3) Stick to the facts and the merits of the case and do not allow emotions to become involved, 4) Be polite, patient and courteous.

Using business etiquette in all matters and especially in business letters will ensure you communicate effectively, avoid misunderstandings and maximise your business potential.

Many times small business owners need great ideas for publicity for the next few months. There are so many things happening in the news that a small business can use, I thought I would start writing articles to remind business owners to get out there. You have to go and stimulate publicity. You can not just hope some reporter will hear about you. You have to make them hear about you. You have to give them a reason to talk about you, AFTER they hear about you.

If you need to know how to get publicity visit http://www.wrightplacetv.com

If you want some new great ideas, continue to read.

Relationships: The Anna Nicole Situation, the Crazy Astronauts and even the Mayor of San Francisco, have relationship problems. If you are an expert in this area, this is a great time for you.

Travel: Jet Blue has had major problems from the storm. There is a new company that will pack your bags for you for a very high price. Do you have a product or service that will make travel easier, the media wants to talk to you.

Ecology: Anything Green, anything that helps the environment, anything that will change a person’s carbon foot print, even bamboo bed sheets are important to media right now.

March is Women’s History Month: Do you have information or insight on woman making history? This is the time to let the media know that you are the resource they need.

Artificial Intelligence: Google is making one, so it must be big!

Social Entrepreneurs: They are the people who do solve social problems, do good, follow their passion and create a robust business. Their solutions can
Work in many different cities and even different countries. Their impact is global, but the stories are exciting. If you are a social entrepreneur or are an expert on them, you will be a media darling!

March is also Learn Italian Month: that can be worked in with anything to do with food , style or home furnishings, just be creative!

It is news that dominates lives today. Business would almost come to a standstill and the cycle of loss and profits would play havoc had there been no market news to update businessmen and investors alike. The best way in current times to get updated with what is happening in the market is visiting a news portal. Just a click of the mouse will transport you to news pages concerning your topics of interest including politics, entertainment, business, and a never-ending list of issues. One advantage of surfing market news online is that you can read it as per your convenience irrespective of the location. From a distant place in America, you can instantly log in to watch business news on India or any other nation. Online news portals, have thus, in a way, simplified businesses more than ever before.

Reading the newspaper or watching television to get a glimpse of stock market news may not be up to your satisfaction. Maybe the print media won’t carry the up-to-the-minute information on the stock market. It may even lack detailed information. Watching a television may not be convenient as the news you are looking for may have been already aired or that you may need to wait for some time for the same stock market news to be telecasted. But with a news portal, it is altogether different. All you need to do is to just visit the page and read the various market news of your interest and read them.

You need not visit different websites every other day to gain information on the business news on India. There are numerous news portals and even newspapers and news television channels run their online portals too. There are again news portals, a counted few that are the sources of information for many other news portals. In fact, the latest stock market news gets broadcasted at such platforms and at other platforms after few minutes or hours. So once you have found out the best news portal, you can visit it everyday to collect latest information on market conditions. You can also get registered at such a platform and have an easy access of the latest happenings and events; if you subscribe, you can even receive news right at your mailbox!

Your investment in the stock market will prove profitable if you stay updated about the market. Get updated and grab the gains!