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Management by Mind Map: Management

1. Sales

1.1. Important notes

1.1.1. Happy ear syndrome

1.1.2. Action takers Window of opportunity Trigger

1.1.3. Factors for No Sales No Need No Hurry No Money No Trust No Desire

1.1.4. Customer types End user Economic user Champion Influencer Veto Power

1.1.5. Store Sales Greeting Proper attitude Proper dressing, hygiene Timing Suitable language Knowledge / Training Product knowledge Competitor knowledge Consistent Product promotion Evaluation Understand customer needs Customer categorization Identifying real customer Sales / Aftersales Sales closing Upselling / Crosselling Objection handling Explanation of extra benefits (service, etc.) Taking customers' info

1.1.6. Sales forecast

1.2. Sales process

1.2.1. Prospecting Phone talk Preparation Tips

1.2.2. Presentation Approach Break the preoccupation Speak to their lizard brain Storytelling Breaking the bread Objection Handling Compliment - this is a good question How do you mean Since you ask this you have an underlying topic, can you tell me what's your concern Our previous customers gave the same response but now they are happy with our product Closing Attention Interest Desire and Action Trial closing

1.2.3. Follow up

1.3. Sales methodologies

1.3.1. Personal sales

1.3.2. Value based selling Sales Pyramid 1- Product 2- Advantage 3- Solution 4- Benefit 5- Profit

1.3.3. SPIN selling Situation Problem Implication Need -Pay off

1.3.4. Solution selling

1.3.5. Consultative selling Profit improvement proposal

1.3.6. Challenger Sale

1.3.7. MEDDIC Metrics Economic buyer Decision criteria Decision process Identify pain Champion

1.3.8. Sandler selling system Three levels of pain Technical issues Business - Financial impact Personal interest

1.3.9. Strategic Selling - Miller Heimann

1.3.10. Target Account Selling

1.4. What's sales

1.4.1. It's a barter

1.4.2. Salesman Helping customer make the right purchasing decision You are a trained professional. You are doing a favour to them. The objective is not to close the sale but to open a relationship.

1.4.3. Rules of sales It is not about the product. It is about the needs. It is not about the seller

2. Marketing

2.1. Brand

2.1.1. Brand Image Brand Association Attributes Benefits Attitudes Secondary association Brand Equity Brand Pyramid Brand Elements Sources

2.1.2. Positioning Identify and analyze competitor Points of parity Points of differentiation Desirable Deliverable Differentiated Mantra

2.1.3. Brand Awareness Brand Recognition Brand Recall Top of the mind Aided Unaided

2.2. Competition

2.2.1. Analysis Competitive advantage Increase willingness to pay Decrease cost Comparative Advantage Tools SWOT PESTEL Porter's Five Forces

2.2.2. Strategies Aim Marketing Objective Source of Volume Attack strategies Frontal attack Flank attack Encirclement attack Bypass attack Guerilla attack Defense strategies Position defense Flank defense Preemptive defense Counteroffensive defense Mobile defense Contraction defense

2.2.3. Types Monopoly Tools The last mover Oligapoly Price is not a competitive weapon Tacid coordnation - Follow the leader Barriers to entry Need for differentiation, internationalization Perfect competition

2.2.4. Don't compete with rivals, make them irrelevant - W chan kim, Blue Ocean Strategy

2.3. Internationalization

2.3.1. Types International Export Multi domestic Global Transnational

2.3.2. Create marginal gains Increase sales Cut costs Manage risks Learn new things

2.3.3. Process Getting access Internalization Appropriation

2.3.4. Global Market Opportunity Analysis Macro Analysis Micro Analysis Cultural Analysis Hofstede Ingelhart Ownership Strategy and Structure

2.4. Pricing

2.4.1. Pricing objectives Survival Maximum current profit Maximum market share Maximum market skimming Product / Quality leadership

2.4.2. Price sensitivity Just noticable difference Perceived Ceiling Elastic Inelastic

2.4.3. Methods Markup pricing Perceived value pricing Value pricing Everyday low pricing High low pricing

2.5. Consumer behaviour

2.5.1. Motivation Psychology Motives Perception Beliefs Attitude Value Sociology Ethnicity Anthropology Culture Subculture

2.5.2. Concepts Pigou effect Maslov's hierarchy Pysical - Food, water, shelter Safety - security, protection Social - sense of belonging Esteem - Self esteem, status Self actualization - Self development Epicurus on Happiness Friends Freedom Analyzed life Herzberg Dissatisfier - Hygiene factors - must haves Satisfier - Motivational factors - Good to have Freud Everything is subcounscious Law of diminishing marginal utility

2.5.3. Thinking Mechanism Need Stated need Real need Unstated need Delight need Secret need Want Human Drives Demand Perception Buying decision Value equation Value = Benefit - Cost Benefit Cost

2.6. Marcom

2.6.1. Advertising Hook work on lizard brain Call to action Association Educate the customer

2.6.2. Sales promotion

2.6.3. Events and experiences

2.6.4. PR & Publicity

2.6.5. Direct marketing

2.6.6. Interactive marketing

2.6.7. Word of mouth

2.6.8. Personal selling

2.7. Basics

2.7.1. History Production Product Sales Marketing Holistic

2.7.2. 4 P's of Holistic Marketing People - Team Processes - Innovation Programs - 4Ps of Classic Marketing Product - what is actually sold Price - how much the product is sold for Promotion - how customers find out about the product Place - where the product can be found 2P of retail mix Performance KPIs

2.7.3. Segmentation Demographic Income Age Sex Psychoghraphic Values Opinions Lifestyle Behavioral Loyalty Usage rate Usage status Geographical Regional International

2.7.4. Market Research Types Qualitative research Quantative research Secondary research

3. Strategy

3.1. End game

3.1.1. Success / Monopoly Create market Steal market share Improve metrics

3.1.2. Failure Don't know what to do Don't know how to do it

3.1.3. Others Pareto 20/80 Parkinson's law

3.2. Business model generation

3.2.1. Customer segments

3.2.2. Customer relationship

3.2.3. Channels

3.2.4. Revenue systems

3.2.5. Cost structure

3.2.6. Value proposition

3.2.7. Key activities

3.2.8. Key resources

3.2.9. Key partners

3.3. General Strategies

3.3.1. Overall low cost - Price leader Economies of scale (Wal mart) Learning and experience (Boeing) Proprietary knowledge (Tata) Lower input costs (Toyota) Different Business models (Ryan air)

3.3.2. Overall Differentiator Product features Quality reliability Convenience Brand image

3.3.3. Focused low cost

3.3.4. Focused differentiator

3.4. Popular Strategies

3.4.1. Distruptive Innovation Distruption is bottom up, it starts with underserved low end market and extend to upper class.

3.4.2. Blue Ocean Decreasing cost + Increasing value for customer Don't compete with rivals make them irrelevant 4 Pillars Reduce Eliminate Raise Create

3.5. Monopolization

3.5.1. Brand

3.5.2. Scale, cost advantage

3.5.3. Networking effect

3.5.4. Proprietary technology

3.5.5. Be the last mover

3.6. Innovation

3.6.1. Google's 8 pillars of innovation Have a mission that matters Think big but start small Strive for continual innovation, not instant perfection Look for ideas everywhere Share everything Spark with imagination, fuel with data Be a platform Never fail to fail

3.6.2. Single unit processing

3.6.3. Bold Digitalization Deception Distruption Demonetization Dematerialization Democratization

3.6.4. Basics First principles Long term thinking Customer centric thinking

3.6.5. Tactics First principles Change the box try to tell your business without 5 words that you use most

4. General

4.1. Management is practise of decision making with aim of improving through data

4.2. Efficiency

4.2.1. Only doing is doing knowing is not doing

4.2.2. 7 habits of highly effective people Be Proactive Begin with the End in Mind Put First Things First Think Win-Win Seek First to Understand, Then to be Understood Synergize Sharpen the Saw

4.2.3. Efficiency is doing things right, Effectivity is doing right things

4.2.4. 80/20 principle

4.2.5. Kazien Plan, Do, Check action

4.2.6. Fast reading

4.2.7. Parkinson's law

4.3. Goal

4.3.1. Have a plan To have To be To do

4.3.2. Effectuation Bird in Hand - Start with what you have Affordable loss principle - set affordable loss Lemonade principle - Leverage contigiencies Crazy - Quilt principle - Form partnerships

4.3.3. Follow KPIs

4.3.4. Things get measured, gets managed

4.3.5. OKR

4.4. Loss management

4.4.1. Before getting into a position you should decide/know where(price), when or why you will exit.

4.4.2. You can't know your winning probability you can only set your exposure to risk

4.4.3. Recognition (prophet motive) or money (profit motive)

4.5. Problems of management

4.5.1. Using casual benchmarking

4.5.2. Unlearning

4.6. Operations management

4.6.1. Utilization = Actual through put / Design capacity

4.6.2. Efficiency = Actual throughput / Effective capacity

4.6.3. Bottleneck

4.6.4. Process - Assembly - Test

5. Toolbox


5.1.1. Only doing is doing knowing is not doing

5.1.2. A feature tells, a benefit sells

5.1.3. Things get measured, gets managed

5.1.4. Nothing happens before someone sells something

5.1.5. a wall is not a barricade, it is an opportunity to show your persistance

5.1.6. Peter's laws If anything can go wrong, fix it “No” simply means begin again at one level higher.

5.1.7. A successful warrior is an ordinary man with a laser like focus

5.1.8. Sales is understanding

5.1.9. Sadelik sofistikeliğin doruğudur

5.1.10. Marketing is management of profitable customer relationships

5.1.11. Brand is a promise. Strong brand is a promise kept, always and everywhere.

5.1.12. Procrastination is like masturbation, it feels good but in the end you fuck yourself

5.1.13. what gets you here will not get you there

5.1.14. an ounce of action is worth a ton of theory - Friedrich engels

5.1.15. If anything can go wrong fix it

5.1.16. Capital moves in response to increase it's marginal productivity

5.1.17. Give me six hours to chop down a tree and I will spend the first four sharpening the axe

5.1.18. Better done than perfect

5.1.19. Some beats none

5.1.20. In the end, it's not the years in your life that count. It's the life in your years

5.1.21. The problem is not that there are problems. The problem is expecting otherwise and thinking that having problems is a problem - Theodore Rubin

5.1.22. When I write an advertisement I don’t want you to tell me that you find it “creative”, I want you to find it so interesting that you buy the product – David Ogilvy

5.1.23. Hire character, train skill - Peter Schutz

5.1.24. Take away my people but leave my factories and as soon grass will grow on factory floors. Take away my factory but leave my people and soon we will have a new and better factory. Andrew Carnegie

5.1.25. Ratio brings context into numbers

5.1.26. a life without question is a life ruined / a human life without examination is not worth living. - socrates

5.1.27. Hire character, train skill - peter schutz

5.2. Books

5.2.1. Sales Consumer behaviour Spin selling

5.2.2. Marketing Talking to human

5.3. Questions

5.3.1. What game are we playing ?

5.3.2. How do we win?

5.3.3. Is there anything that will ease or make redundant other to dos?

5.4. Stories

5.4.1. Gold standard

5.4.2. Stone soup

5.5. Mindset

5.5.1. Rapid feedback Pivoting Operator doctors

5.5.2. Happiness

5.5.3. Pre mortem

5.5.4. Crowd source, Crowdfund

5.5.5. Hayatta yapmanız gereken tek şey çok az şeyi yanlış yapmaktır.”

5.5.6. Basic Principles

5.5.7. What has not changed

5.6. Definitions

5.6.1. Cost: Sacrificed economic resources for a specific subject.

5.6.2. Pigou effect

5.6.3. Black Swan

5.6.4. Problem:Difference with actual and desired outcome

5.6.5. Economic Bubble Government makes easier access to money Investors use this money to invest in risky assets Assets don't live up to the value and bubble pops

5.6.6. Pigmalion effect

5.6.7. Rule of diminishing returns

5.6.8. Curator

5.7. Remembering curve

6. Accounting

6.1. Identifying

6.2. Measuring

6.2.1. Costing Activity based costing Cost Fixed cost Variable cost

6.3. Communicating

6.3.1. Financial Statements Balance sheet Assets Liabilities & Equities Income statement Cash Flow statement all the truth is found in cash account

6.3.2. Financial Reporting Ratios Liquidity ratios Activity ratios Leverage ratios Profitability ratios Market ratios Ratio brings context into numbers

6.4. Cash Management

6.4.1. Numbers to look at EBIT Working capital Leverage

6.4.2. Core Never run out of cash Make smart investment decisions Make smart financing decisions

6.4.3. Opportunity cost

6.5. Critical Stuff

6.5.1. Working Capital

7. Finance

7.1. Time value of money

7.1.1. R - Interest Risk Free Rate Risk Premium Maturity Premium Liquidity Premium Default Premium

7.2. Futures

7.2.1. Buy long

7.2.2. Sell short

7.2.3. Others Straddle

7.3. 3 rules of finance

7.4. Hedging

7.4.1. SWAP

7.5. Investment tools

7.5.1. Bond Pricing C/r (1 - (1/(1+r)^n)) + FV /(1+r)n

7.5.2. Stock Preferred stock Price D/r Common stock g oranda artan için price D1/(r-g) D1= D0*(1+g) P = [ income x (1-b) ] / [r - (bxROE)]

7.5.3. Tresaury bill (Risk free)

7.5.4. Derivatives

7.5.5. Commodities

7.5.6. Disaggrement cause volume in the market

7.6. Pricing

7.6.1. Discount rate

7.6.2. Sharp Ratio

7.6.3. Cash flow Expected present value of future earnings

8. Human Relations

8.1. Influencing

8.1.1. Cialdini's 6 principles Principle of liking Reciprocity Social proof Consistency Authority Scarcity

8.2. Motivation

8.2.1. 5 Chemicals Endorfin Dopamin Serotonin Oxitosin Cortizol

8.3. Change Management

8.3.1. Kottler's 8 steps to change Create urgency Create a guiding coalliton lacking vision - communicate heavily remove obstacles Create short term wins Don't declare wins early Anchor changes to culture

8.3.2. Communicate heavily

8.3.3. Showcase the improvement / make a show

8.4. Communication

8.4.1. Lizard Brain What you see is all there is Halo effect Selective attention

8.4.2. Knobe Effect

8.5. Cognitive Bias

8.5.1. Confirmation Bias

8.5.2. Sunk Cost trap

8.5.3. Anchoring trap

8.5.4. Framing trap Risk averse if framed as gain Risk seeking if framed as loss aversion

8.5.5. Loss aversion

8.5.6. Cognitive stop 150 people Rubin Danbar

8.5.7. Absence blindness Effective managers solve problems, best managers avoid problems

8.5.8. Association

8.6. Negotiation

8.6.1. Potential outcomes Flight Fight Give up Evade Responsiblity Compromise Consensus

8.6.2. Topics to consider BATNA - Best Alternative to No Agreement ZOPA - Zone of Possible Agreement Nrxt best alternative

8.6.3. Significant problems that we create can't be solved at the same level of thinking twe are at when we created them - Einstein

8.7. Leadership

8.7.1. Leaders create followers

8.7.2. Effect of the first follower

8.7.3. 4 cap leadership model Visioning Relating Inventing Sensemaking

8.7.4. Liderin işi kendini lüzumsuz hale getirebilmektir.

8.7.5. Sharing is caring AA - 12th step

8.7.6. Management is doing things right, leadership is doing right things - Peter drucker

8.8. Employee management

8.8.1. One minute manager One minute goal setting One minute praise One minute reprimand

8.8.2. Operational management What people are actually doing? What people are likely to do? What people are ought to do? How to close the gap?

8.8.3. Raise A raise is a raise only for a month, then it becomes someone's salary

9. Economics

9.1. Macroeconomics

9.1.1. Aggregate demand Consumption Investment Government spending Export - Import

9.1.2. Targets Economic growth (Metric: Real GDP) Price stability (Metric: Inflation) Low unemployment (Metric: Unemployment)

9.2. Microeconomics

10. Entrepreneurship

10.1. 24 steps

10.2. Growth Hacking

10.2.1. Acquisition

10.2.2. Activation

10.2.3. Retention

10.2.4. Referral

10.2.5. Revenue

10.3. Famous Tactics

10.3.1. Consistency / Reliability

10.3.2. Enabler

10.3.3. Make bold moves but make sure to have a way out

10.3.4. Expectation effect - Surpass expectation

10.3.5. Shadow testing

11. Product

11.1. Design

11.1.1. Best products are enablers

11.2. Surpass Expectation