Trade Best Practices
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Running a successful business of photography involves a lot more than taking good photographs. You need to understand the best ways to make a mark in an extremely competitive market.  A key principle in business is TRADE Best Practices, a model of benchmarking that helps you asses your position in the industry and what you can do to improve your standing.


Benchmarking

Benchmarking is the process of comparing your organisation with others. It can be an exchange of information between organisations, a comparison of techniques or processes, basically any interaction that improves your understanding of the workings of an organisation. It involves collecting data and quantifying it, and helps you determine what areas of your organisation need development. But collection of data, or identifying problem areas needs to be followed by solving these problems. Here is where TRADE comes in.


TRADE Best Practice

TRADE best practice benchmarking methodology is a system that allows implementation of certain practices in order for an organisation to identify and solve challenges that hinder its development. It consists of five stages:

  1. Terms of Reference
  2. Research
  3. Acquire
  4. Deploy
  5. Evaluate
 For a deeper understanding of TRADE best practices, visit the website of Centre for Organisational Excellence Research  (http://www.coer.org.nz/apply/trade-best-practice-benchmarking).

Keep watching this space for updates and practical tips from photographers about how to keep your business running smoothly .



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