The best sectors for business acquisition opportunity today are in the IT Consulting, Direct sales distribution and Healthcare service sectors. All of these sectors have experienced significant change over the past several years due. IT has gone from a localized consulting model to a cloud based offshore model. With the cloud becoming omnipresent, IT delivery channels have been structurally upended. Distribution companies that have historically used direct sales to drive growth are now dealing with adoption of new technologically based sales and marketing tools. Customer’s today want to deal with fewer suppliers and are organizing managed purchasing platforms that may cut out certain suppliers. Most direct sales based distributors need to adopt new technologies such as skype, video conferencing and hand held tablets into their sales process to keep their sales force on the cutting edge. Health care companies particularly in the service side are under attack from technology and regulatory changes. Most health care service companies such as home care or outpatient practices have been run as lifestyle businesses. They are not equipped to deal with changes in reimbursement let alone large scale industry reorganization into accountable care organizations. While these sectors are all different, they all are wrestling with the same issue – how to become more efficient in a technology dominated world where the old fashioned way of doing things is no longer good enough. These sectors present the best business acquisition opportunities in 2014.
Cultural and language barriers – If you speak fluent and flawless English, do not expect the same from people of other countries. They speak and write English only as a second language. When you open a branch in their country, you must adapt to their manner of talking to do well. There are cultures that speak French, Spanish, Italian, Japanese, Arabic or Germany as their national language. If you want to make them your customers, you must learn their language or employ local people. Besides the manner of speaking, global countries have unique cultural behaviors and activities. It will take you time to learn their cultures and so you should be patient.
Currency – Each nation has its currency. So if you are used to a US dollar you will have to be flexible when you finally set up a branch abroad. Fortunately there are online currency calculators you can use when setting your product prices. Besides understanding how currencies of other nations work you should decide whether getting paid or paying for something in your currency is more advantageous. Competitors’ currency choice can guide you. Consider that your international customers have a right to pay for goods in their currency or yours. It will be a negotiation between you and them. Foreign currency exchange rates can fluctuate any time. This should be considered before accepting to use overseas currencies. One way you can avoid losing money due to these fluctuations is to speedup your payables cycle. The hedging technique can work as well.
Recruitment – When drafting your international growth and expansion strategy you must reflect on recruitment. Will you send some of your current employees abroad or will you hire new workers from there? The best way to appreciate and embrace new cultures is to hire local workers. They already understand local business laws, people, markets and currency among other things.
This means that the secretarial tasks can’t be completed unless the owner is willing to pay extra to the lone worker. This is usually done through overtime wages for working beyond office hours and completing all the tasks. Some workers may be pleased at the idea of making some extra money by working overtime, but others may not find it worthwhile to put in the extra hours of work. That is when the installation of an invisible entry alert beam can help the business by informing the worker whenever a customer walks in the store.
What is an invisible entry alert beam?
An invisible entry alert beam system, also known as a motion focused system, is usually located at the entrance of the store. Its main function is to send a signal to the employee whenever anybody enters the store. The signal can be in the form of a chime or any audio signal through the intercom installed at the rear of the office. The main benefit to the business is the fact that the employee can continue working in the rear of the office and also greet the customers visiting the store.
Imagine the kind of customer service a storeowner can provide when installing this system. The customer gets highly impressed and feels honored that their presence at the store prompted a worker to stop doing the job at hand and come to the front of the store to greet them personally. It surely goes a long way in developing a long-lasting relationship with the customers.
Another very helpful feature of the invisible entry alert beam is the fact that these products are available in many models, for different budgets. You can get a simple and effective system that can easily be installed at the entrance to your store. When the budget allows it, you may install a technically advanced system that offers additional advantages, like not using any electrical wires, or connecting the system to the intercom. Any small business owner will be glad of having invested in one such system.