From the NAW Blog:

Companies like Amazon and Netflix have used cutting-edge Artificial Intelligence (AI) tools to drive growth and disrupt business-to-consumer (B2C) markets. Business-to-business (B2B) distributors have been slow to adapt this technology, however. This will soon change. B2B distributors that leverage the power of AI technology have the potential to turbocharge revenue and disrupt their own markets. Those that fail to do so will risk getting left behind.

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From the NAW Blog:

Artificial Intelligence (AI) has existed for more than 20 years and its impact on the workplace has received more attention in this digital era. Because AI promotes deep learning and predicts human accuracy, it has drastically transformed the way we work and accelerated growth in ways humans could not.

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From the NAW blog

Retail isn’t distribution, but lessons from Best Buy as a “disruption survivor” offer essential insights for distributor leaders. As reported recently on Inc.com, Best Buy was nearly killed by losing business to Amazon, but turned things around through a combination of corporate strategy and emotional intelligence. Best Buy was terminally ill, but has become healthy through smart, assertive leadership and real-world innovations around people, relationships and physical space. Five powerful insights are revealed in the Inc.com article, three enumerated as a list, and two revealed in other paragraphs and an attached video. All are important and relevant for distributor leaders.

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From the NAW Blog

In our recent Facing the Forces of Change® challenge paper, Creating Innovations and Shaping the Future of Business, we identified a growing movement in wholesale distribution, in which leading distributors are innovating business services as a means of fighting disruption. Since the publication of our challenge paper, our continuing research has revealed evidence of distributors striving to identify and align with market trends to find willing buyers of new service offerings. While most distributors focus on end customers for service opportunities, it may turn out that suppliers are a target-rich environment.

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Working Capital is an important concept for every business to understand. From Amazon or Apple to a small locally owned business, business owners need to understand the importance of working capital. At its heart, working capital is defined as, “the amount of a company’s current assets minus the amount of its current liabilities,” or simply, a company’s available capital for daily operations at any given point in time. Thus, working capital provides a measurement to determine a company’s operational efficiency and short-term financial health.

At the basis of working capital is the calculation, which is generally the difference between the current assets and the current liabilities. Current assets are assets that can be converted into cash within one year or less. This would include assets such as cash equivalents, marketable securities, accounts receivable, inventory, and prepaid expenses. While current liabilities include short term debt such as accounts payables, accrued liabilities, and other similar debts.  Subtracting the current assets by the current liabilities will provide the working capital figure. The working capital is positive when there is an excess of current assets compared to current liabilities.
However, a working capital calculation not only plays a role as a financial measuring tool, but it can play a large role in Merger and Acquisition (M&A) transactions.

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From the NAW Blog:

Looking ahead to the coming connected world, consider a scenario in which all transactions are digital. Orders are received from a variety of virtual channels including a distributor’s online store and mobile apps, as well as customer e-procurement platforms and online marketplaces. Data transparency is nearly ubiquitous. Suppliers, distributors and customers succeed on what they do with data, not by hoarding it. Distributors no longer shield their customer data as a means of preventing disintermediation and disruption. Artificial intelligence and data-driven services enhance customer experiences and redefine collaborations with suppliers. Breakthrough results are achieved by sharing data up and down the value chain and by aggregating data across the market.

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From Entrepreneur

Your operations can be streamlined by following these simple things READ MORE

From Inc

Every organization can reap the benefits of disruption. All you have to do is start thinking like an outsider. READ MORE

From Entrepreneur

Don't ignore how much is beyond your control but never take your focus off of what is within your control. READ MORE

From Entrepreneur

The best time to tweak your business for the better is when everything is already going well. READ MORE

From MultiBriefs: Exclusive

Ready or not, this year's tax filing deadline is approaching quickly — April 17. And the big question for many businesses across the U.S. is how to avoid audits. READ MORE

From Business 2 Community

Entrepreneurs bring all sorts of skill-sets to their venture, such as the ability to sell, or to organize activity, or to raise funding. Some might have a business background, but others might need to learn the ways of business while on the job. Here are 14 terms you and every entrepreneur should know, because they involve central concepts that affect your business. READ MORE

From the Profit-Tips channel

Some companies function with such destructive consumption that they are actually unprofitable to do business with. One such type of business functions much like the Borg Collective in Star Trek; expecting you to handle very large numbers of small orders, provide and fund additional logistics, and waive or modify the policies that normally protect you from losses. These are companies that will eat up your profits; it is wise to keep away from them. This video gives a guideline for how to avoid getting caught in their grasp. Watch the video.

From the Profit-Tips Channel

Everyone eventually faces the loss of a significant account. Sometimes it’s one that represents such a large share of business, that “normal” operations are no longer possible. How you handle the situation will determine whether it’s an unpleasant blip, or a near death emergency. This video shows what to do to keep your ship from afloat when the inevitable happens. Watch the video.

From the Profit-Tips channel

There’s a strategy that sets apart the companies with astronomical profit rates from everyone else. These amazing companies have profit rates not double, but six to eight times those of their competitors! They all utilize the same strategy for driving the highest-possible profit rates, the greatest cash-flow, and the fastest growth. In this video, I’ll share the strategy, and how you can get started implementing it. Watch the video.

From the Profit-Tips channel

Mathematically, half of all companies have below-average customer service. There’s a fifty-fifty chance yours is one of them. Here’s why most companies don’t do so well with this, and what can be done to get to the top of the heap. Watch the 4-minute video.

From the Profit-Tips channel

Check out my new 4-minute video: The Customer Benefits Budget: Engineering Customer Relationships.

From the Profit-Tips channel

Check out my new 6-minute video: Accounts That Eat Your Lunch.

From the Profit-Tips channel

Check out my new 5-minute video: How to Make (a Lot) More Money: Profit-Driven Business Strategy.

From the Profit-Tips channel

Check out my new 5-minute video: Mix & Balance: How to Get Big Profit Gains.