BUSINESS AND MONEY MAKING

INTRODUCTION

Business and money making are very connected particularly when it comes to profit motive organizations. However not all business is money making. Money making is the sustenance side of a business. There is also value in business. Value is good as it supports sustenance.

MONEY MAKING

Money making is vital part of any business. The various pressures countered by money making are investor pressure, asset depreciation pressure, overheads, contingency fund, costs etc. Money making is often criticized as a wrong motive for business. However, this is sometimes called impractical. Money making is the more transient part of a business. Money making while crossing limits may affect value which is lethal to any business. Money can be shared by business segments. However balances are maintained as money in the system is limited. Money is tangible part of business.

Business is often disconnected from money making as crimes like theft, smuggling etc have money making as prime motive. Business is generally a noble activity and some dignity is restored by separating it from money making. Charity organizations are non profit businesses where money making may not be a prime motive. However fund or money distribution and consumption optimization is important.

VALUE

Value is any positive impression created by business on targets. Value is perpetual part of a business and aids money making. Value can be created and passed on other segments of a business by trust and word of mouth. A new product from a good brand would inherit and retain the value of its old ones. Value is intangible part of business and a crucial one too. Value is tough to create and needs a good thought process.

Value is connected to business to enhance good competition where education matters and role of money is reduced. Some high value goods are so called because of reduced costs and prices. Some good engineering or process innovation can generally create value. Crucial business metrics like customer satisfaction is improved by providing more value.

MONEY MAKING TECHNIQUES

Increasing prices of largest product sales segments is a very common money making technique. However, this could cause big trouble for customers causing switching of brands.

Other money making techniques are improper contract drafting like using ambiguous words, planting and using a catch in terms of contract once accepted etc. These techniques reduce the brand’s trust and loyalty factors which could be the end of the road for the business.

Some money making techniques are classified as crimes and affect business dignity.

Some standard business processes that aid money making by creating wealth are
1. Brand building like SEO etc.
2. Creating value for customers
3. Building relationships
4. Planned and phased releases, penetrations and expansions
5. Well planned investments

CONCLUSION

Money making is important in business but various factors like ethics, motive, vision etc. streamline
it’s role. The importance of value in business is more than money making and value is more integral part of the business. Value gives a better perspective to business overall in terms of its necessity and purpose.