Category Archives: Business Development

Business Development, Retail, Sales & Marketing

8 Tips For Starting A Wholesale Business

A wholesaler buys from manufacturer and resells to retailers. If you are thinking of starting a wholesale business in any industry, here are 8 Tips For Starting A Wholesale Business based on my experience of running whole business in different industries.

1. Good Negotiation skills:
a. To persuade manufacturer to get the products at low price, you would also need to negotiate with them for the margins even if the quantity of purchase in not high.
b. Need negotiations skills to deal with retailers, pass on less margin to them, yet be competitive and retain sales.

2. Create a strategy to get the best possible price and margins through negotiation, collaboration, managing credit and cash, bulk purchasing. You may even have to book some import orders. Continue reading →

5 Questions, Business Development, Business Strategy, Contracts & Legal, FAQ, Jobs & Careers, MyOrbit Blogs, Sales & Marketing, Start-ups

Should You Start Your Own Business?

https://encrypted-tbn2.gstatic.com/images?q=tbn:ANd9GcQoQGiPdVTgIIfg2-Te9dWSYZOlcPv_1HGrAHZX83JaJQgR1H4xOne of the most commonly spoken/unspoken questions from people is (what if) I start my own business? Starting and running a business is tough and will need a lot of time and energy. So the answer is never the same for two people. It depends on what your goals are. Are you unsatisfied with your current job? Or do you feel there is a lot more you can do if you could decide the direction of your efforts? While it is more than possible for you to find, apply for, and be awarded a new job, did you know that is not your only option? Have you ever thought about starting your own business? If this is a thought that has yet to cross your mind, you may want give starting your own business some serious consideration.

If you are serious about starting your own business or at least learning if running your own business is something that you are capable of doing, please continue reading. A few important points to be considered by those who are interested in leaving the traditional workplace to start a business are as follows: Continue reading →

Business Development, Business Strategy, FAQ, Sales & Marketing, Start-ups

5 Keys to a Successful Business

Business owners are some of the most optimistic, and often the craziest people in the world. No-one starts a business believing that it will fail. We are all absolutely convinced that our idea is a great one, that we will be successful (where others have failed) and that this business will change our lives for the better. If we did not feel that way, we would never take the risk to invest our own money, or borrow from others to start our business. The reality is however, that, according to the SBA, most businesses eventually fail and more that 50% do not survive beyond the first 3 years. Even if you manage to get that far, things can still go horribly wrong, as many seasoned business owners found out during the recession which hit us during 2009 to 2012.

So, does this mean that you should not start a business at all? Absolutely not. I believe that your business can be an outstanding success, if you approach it in the right way, avoid repeating previous mistakes and impose discipline on yourself as the owner. Here are some of my suggestions on how you can make sure that your business succeeds:

Continue reading →

5 Questions, Business Development, Insurance, Jobs & Careers

Insurance and Financial Services Sales Job Interview Questions

Question from Sam: Hello, I have managed to get an interview for an insurance and financial services sales position, and now I want your help! New York Life, Prudential and Metlife want to interview me, but I don’t have financial experience. Can you please tell what kind of questions will be asked?

Answer: Here is a list of basic questions they will are very likely to ask you:

• Have you ever been in sales before? If so, what was your closing ratio?
• What do you know about our company/products/industry?
• What is the most difficult problem you have ever solved?
• Explain a time when you have worked effectively under pressure.
• Explain something that you have attempted and failed. What did you do next?
• How do you feel that your personal or academic background fits with the position that you are seeking?
• What do you believe will be the biggest challenges of this position?

The demand-supply situation for job is highly favorable towards the employers, i.e., htere are more candidates than jobs. Try to share examples from your past work, and if possible, ask the intervieweers to call your previous managers, or references on the phone. Positive references help a lot in all kinds of job interviews, from entry level jobs to the senior  executives, and company board positions.

All the best!

Biotech, Business Development, People

Business Executives in Pharma Biotech Industry

Patrick Mahaffy, CEO & Founder, Clovis Oncology
Dan Burgess, CEO & Founder, Rempex Pharmaceuticals
Faheem Hasnain, President & CEO, Receptos
Remi Brouard, Vice President External Innovation, Sanofi-Aventis R&D
Polly Murphy, Vice President, Worldwide Business Development, Pfizer
Mark Noguchi, Gloabl Head of Alliance Management, Roche
Roger Pomerantz, SVP and Head Worldwide Licensing, Merck
Mark Edwards, Managing Director, Bioscience Advisors
George Golumbeski, Senior Vice President Business Development, Celgene Corporation
Kurt Graves, Executive Chairman, Intarcia Therapeutics, Inc.
Natasha Hernday, VP of Corporate Development, Seattle Genetics Continue reading →