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Realistic Target Setting - Part 1
Some of the most common worries about setting targets for performance measures are:* challenge 1: Striking that sensitive balance between making the target achievable but also a stretch.* challenge 2: Creating that sense of urgency that will motivate people to hunger after the target.* challenge 3: Having a measure or means of monitoring progress as the target timeframe approaches.I'd like to share some ideas with you, about how to lessen the burden when you come face to face with worries like these.idea #1: don't strike a balance between achievable and stretch - do bothWhat I've learned is that it takes practice and confidence-building to achieve a target or goal. Why not set at least two or three targets for any single

well as the Customer acquisition, service and marketing expenses.
• Some include also elements relating to the value gained from Customer referrals as well as cross selling & up selling.

All these approaches may or may not be suitable to the context of a specific Business. Asserting that a model which does not incorporate a

Recruiting
It is very important for an enterprise to be adequately staffed. Systematic steps have to be taken to ensure that the right types of persons are available to the concern in right numbers. This process is called recruiting and it takes time and attention to find out persons who are not merely willing to work but are also suitable for the positions lying vacant. It goes without saying that the management should, to begin with, attempt to make an estimate of the requirements of individuals required in the different departments.The number of workers required by an enterprise depends upon the scale of production, the degree of mechanization and methods of work. The management must, therefore, keep a watch on developments in these fields so as to be able to take

In order to serve their Customers according to their value (apply value-based-servicing), Businesses try to assess the value of each Customer. One approach to assess Customer value is by estimating the Customer Lifetime Value (hereafter CLV).

A strict approach to the definition of CLV (or LTV) is the net present value of future cash inflows and outflows or profits (based on the principles of financial management), related to a specific Customer. An important factor affecting the CLV is the retention rate (or alternatively the Customer lifecycle termination probability).

Theoretically speaking, a comprehensive assessment of customer value should comprise all different aspects of a customer’s contribution to the Business’s success (e.g. referrals to other Customers, cross selling potential).

A number of different approaches of varying complexity have been proposed for the calculation of the CLV:
• Some focus on cash inflows and do not integrate the customer survival factor
• Some estimate the cash inflows only: the revenue that this Customer is expected to contribute to the Business in the future.
• Some approaches which are more complicated, attempt to estimate both cash inflows as well as cash outflows: the revenue that this Customer is expected to produce for the Business in the future, as well as the Customer acquisition, service and marketing expenses.
• Some include also elements relating to the value gained from Customer referrals as well as cross selling & up selling.

All these approaches may or may not be suitable to the context of a specific Business. Asserting that a model which does not incorporate a

Direct Sales VS Human Sandwich Signs?
Which is better to stick a college student out side of your business wearing a silly sandwich sign or sending out direct mail marketing pieces to all the residents within a 10-mile radius of your store? Sounds like a funny question indeed, and yet this was a question asked by a marketing student in a marketing class where I gave a speech.Okay, I said so tell me more about my business, what kind of a business is it and what is the daily traffic going buy? Is there a safe place for this human shield to stand away from bad drivers? What is the speed of the traffic out front? Are they whizzing by at 55 mph or are slowed to a stop due to a stop sign or intersection?The student decided that the business was a pawn shop, we would pay the student sandwich s

ash inflows and outflows or profits (based on the principles of financial management), related to a specific Customer. An important factor affecting the CLV is the retention rate (or alternatively the Customer lifecycle termination probability).

All these approaches may or may not be suitable to the context of a specific Business. Asserting that a model which does not incorporate a

Marketing, Marketing, Marketing
On my mind and the minds of a lot of my clients recently is marketing. Whether you run a small business, are self-employed, work for someone else or are on the job hunt, MARKETING IS KEY.Ultimately, your ability to thrive, to survive no matter what the circumstances, to succeed where others fail, to make bold changes in your life will be in great part due to your ability to market YOU.If you are in the job market, you are marketing yourself, what you can do for a prospective employer and how you fit into their organization.If you are employed and you have career development goals, you better be engaging in effective marketing activities to build your personal brand and expand your network.If you are self-employed, your first product is

all different aspects of a customer’s contribution to the Business’s success (e.g. referrals to other Customers, cross selling potential).

All these approaches may or may not be suitable to the context of a specific Business. Asserting that a model which does not incorporate a

Medical Billing - EA0 Record Fields 1 Through 9
When doing medical billing of claims by electronic means, the EA0 record that gets transmitted is one of the largest records in a claim file, containing 55 unique fields that need to be sent. These fields give the payer information about the claim itself including when the condition was diagnosed to what the condition is, indicated by a number of very cryptic codes. We're going to be starting a multi part series on the EA0 record with this article.EA0 field 1, positions 1 - 3, is the record type, which needs to be filled with EA0. Anything else in this field and the claim will be denied.EA0 field 2, positions 4 - 5, is reserved for future use. Like all the other fields in NSF 3.01 specifications, it is unlikely that this field will ever be used

r> • Some estimate the cash inflows only: the revenue that this Customer is expected to contribute to the Business in the future.
• Some approaches which are more complicated, attempt to estimate both cash inflows as well as cash outflows: the revenue that this Customer is expected to produce for the Business in the future, as well as the Customer acquisition, service and marketing expenses.
• Some include also elements relating to the value gained from Customer referrals as well as cross selling & up selling.

All these approaches may or may not be suitable to the context of a specific Business. Asserting that a model which does not incorporate a

What To Do When A Co-Worker Turns Nasty
A friend of mine laments that work would be great if only there were no other people there! No matter where we work, we will work with others. Often, those relationships are cordial if not friendly, but there can be challenges. You will not love all of your co-workers, and some will be downright nasty.Bullying doesn't just happen in schools. More frequent incidents of co-workers who bully others are being reported. When co-workers turn nasty it can make for an uncomfortable, if not dangerous, working environment; but there are ways to handle the situation so that it doesn't get out of hand.Set clear boundaries. If you don't set limits and let the co-worker know that their behavior is unacceptable, you can bet it will continue. Let the offender know

well as the Customer acquisition, service and marketing expenses.
• Some include also elements relating to the value gained from Customer referrals as well as cross selling & up selling.

All these approaches may or may not be suitable to the context of a specific Business. Asserting that a model which does not incorporate all CLV factors is invalid or incomplete, may be of academic value, but in the real Business world things are not so simple.

It can be easily understood that the estimation of the CLV, according to the above ‘strict approach’ definition is a very difficult task. This is due to the following reasons:
• The difficulty in the estimation of the duration before Customer lifecycle termination (survival probability). The business needs to implement a so-called survival function which is time-dependent, and apply it to each Customer. Moreover a survival function has its limitations since it only gives the probability of a Customer ‘surviving’ beyond a certain point in time.
• It can be difficult to assign costs related to a specific Customer (acquisition, marketing, serving, retaining, terminating). If the Business is not applying cost accounting at the Customer level, cost assignments can only be based on averages (e.g. cost analysed per Customer segment).
• The availability and quality of information related to the factors affecting CLV. Historical information may also be needed.

Each Business should evaluate:
• The readiness of its Organization, vis-a-vis predictive modeling for CLV
• The available data sources, relating to the factors affecting the CLV
• The cost to build and maintain

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First of all, anyone who is looking for the item with the best profit is on the right track. You may think that is obvious, but many sellers spin their wheels listing items that do not make a profit. Sure, they make some money, but they are not making a profit on their auctions. What you need to do is find items that make money after all the eBay fees, product costs, and shipping costs are paid.

Have you ever noticed how untrusting people are? What is the cause of all this? Is it the media scaring people into believing that everyone is a scam artist? Is it the government causing mistrust amongst the masses to further propel law enforcement agencies, which in turn make more rules and regulations to control? Is it the Internet where everyone runs around using a false “pen name” as they practice deceit?

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