Greece: Champion of Inflation in Europe!

First (once again in Europe) in price increases in ten basic product categories and inflation in general for June 2010.

See the chart below

You and your Smartphone!

You can use it to do amazing things and get a sound competitive advantage in sales and marketing

You spent several hundreds of Euros (or dollars) in the latest Smartphone model; perhaps an iPhone, a Blackberry, a HTC (like me!), etc. You have huge touch screens, lots of apps, fancy graphics and interfaces and you showoff. Admit it! One of the reasons of that purchase was just for showing off.

But you can certainly use your latest gadget to help you with your work. I mean REAL help. It’s way more than sending emails and having your contacts organized. Those are for kids. You can do great things and perhaps the most important application installed in your Smartphone is excel (for Windows Mobile or similar products for other platforms).

I will concentrate mainly in sales administration and help, but certainly you can use it for other things too (such as marketing functions, production functions, etc.). After all, we are all salesmen!

Let’s start!

Continue reading You and your Smartphone!

Bold incentives for new investments

New act for the development of the economic environment and businesses in Greece is about to be discussed in the Parliament tomorrow and to pass soon. In order to provide the necessary environment for new investments into the country, important incentives will be given especially in the field of taxation.

An example:

For an investment of 100 million Euros, the entrepreneur will not pay taxation till that investment yield profits of 40 million Euros!

Source: 25 July 2010, ” To Proto Thema” Newspaper, Business Stories, p. 4-5

Banks’ stress tests

5 out of 6 Greek banks succeeded in the European stress tests. 92 European banks participated in these tests. 1 German and 5 Spanish banks failed.

Fnac transition to Public

The transition of Fnac (Greece) to Public was made in a couple of days. 2 of the 3 stores of Fnac have reformed to Public in less than 4 days. There has not been made any remodeling of the stores yet; those will be done gradually over time. The 3rd store will operate regularly as Fnac until the end of this month (July) so as to give the opportunity to its members (Fnac Club) to redeem their points (they had a point system – the more you had purchased the more points you had got. You could convert these points to future discounts).

Business blogging and disclosure

The bad thing with business blogs is that you cannot reveal all the information available to you. The reason for that is obvious. I cannot expose information considering our operations or our competitors’ intelligence. I cannot reveal my strategic plans and / or policies in order to outperform competition and increase sales, revenues, profits, or lower costs, etc…

One can only speak vaguely or refer to past events. Still there are important lessons to be learned though :)

New design and blog updates

I made serious updates in this blog today. I’ve changed wordpress version and I’ve completely altered the design (making it more simple). Please tell me if you like it and provide me with feedback. There might be slight or bigger changes in the next few days; I haven’t made up my mind yet.

Aldi: the second multinational to leave Greece…

Aldi, the large German multinational super market chain, has recently decided that will stop its operation in Greece by the end of this year. Aldi has recently entered the Greek market with great ambitions and has already launched 38 stores. This decision was released just one week after the announcement and immediate closure of Fnac in Greece.

By all means this is another sign of the bad state of Greece’s economy!

Economic Crisis in Greece: Some Numbers

The following numbers have been published in the “Ta Nea” newspaper and are based in two separate researches of the:

  • “National confederation of Hellenic Commerce”
  • and the “Athens Chamber of Commerce and Industry” 

70% of entrepreneurs state that they don’t have profitability anymore
40% of them cannot respond to their financial obligations
30% are thinking of downsizing
22,5%  may change the country in which they conduct business in order to pay less taxes.
51% of businesses may close if the economic environment will not change or improve in the next 12 months.
81,9% face decrease in turnout and profitability problems

There is no need to comment on the numbers! The situation speaks for itself!

In the same article of the newspaper:

By the end of this year there might be 60.000 businesses closed (so far this number exceeds 16.000) and 110.000 people may lose their job!

N00bs in retail!

It’s very frustrating to interact with people “dangerously” inappropriate to conduct any sort of business activity. Unfortunately, there are lots of them in the retail sector. People are hired only on the criteria of low salary demands and are completely uneducated on selling or managing. It’s very sad and drives me crazy.