911 Essay

911 Essay

Business

5 Practical Reasons Why Small Businesses Fail – How to Ensure Success

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Are you an entrepreneur looking to set up a brand new business?

Congratulations! You probably have no idea what a significant contribution you’ll make to the economy of the country.

Take a look at these statistics released by the U.S. Small Business Administration Office of Advocacy. Small businesses make up 99.7% of companies working with employees on salary. Further, they created jobs for close to two-thirds of the population between the years from 1993 to 2016.

However, the SBA also has some worrying numbers you need to look at closely.

About 20% of small businesses fail within the first year and close to half of new enterprises close shop within 5 years of opening. Only a third of the small companies opening today will make it through their first 10 years.

Let’s take a closer look at the essentials for a successful business that many entrepreneurs tend to overlook.

1. Lack of Expert Assistance Can Contribute to Why Small Businesses Fail

The statistics you’ve just read are not designed to discourage you. On the contrary they are intended to warn of the worst case scenarios and that you may want to plan well in advance for them. Even as you work hard to get your new enterprise off the ground, it is advisable to have a professional assisting you through your efforts. Hire the services of an expert who can work with you as a one on one business coach to help you stay focused on your goals. He can also guide you through the aspects of business planning that you may lack in. For instance, you may have an amazing idea for a product or service but executing the production and managing the company are completely different fields.

2. Understanding What the Audience is Looking For is Essential

How do your customers view your products? Do they like how the product works? What are the downsides? What can you do to make the service better? Not knowing what the consumer is looking for is one of the main reasons why small businesses fail. The success of your business depends on how your audience receives your products and services. And, to understand what they think, you need to build a connection with them. Like a feature in the Forbes explains, the internet and social media channels are the best medium to get the necessary feedback.

One of the first steps you must take at the time of setting up your business is to develop an online presence. Create your website side-by-side and open digital channels so your customers can communicate with you. Use their tweets and FB updates to develop that special Unique Value Proposition (UVP) that sets your offerings apart from the rest.

3. Underestimating Cash Flows and Financial Requirements May Affect Sustainability

Many entrepreneurs make the fatal error of not planning for hidden expenses. Because of their lack of experience, they are likely to overlook various operational, management, and maintenance costs. As a result, they spend their seed money too quickly. A business coach can help you foresee those expenses and plan well ahead for them, as well as help you determine whether you should take out a personal loan to help. He may also help you keep a close watch on the areas where you’re making large purchases. That’s because getting into a large debt is another of the prime reasons why small businesses fail.

Like the folks at All Business warn, entrepreneurs also go wrong in estimating how soon their product will take off and the revenues will start to come in. Work with an expert advisor for an estimate on how soon after the product launch you can expect to see any real profits.

4. Detailed Planning Can Affect How the Business Performs

Before you actually go into production, you may want to plan every detail of your business operations down to the last detail with the help of your business coach. In addition to working out the finer nuances of the product you’re planning to develop, you could work on how you intend to advertise and sell it. Choose your marketing channels and locations carefully. You may also want to study competing companies and the kind of products they’re selling successfully. Also, plan for the workforce you may need to hire and the functions it will be performing. Many small businesses fail because their owners haven’t executed the planning stage properly.

Most important, work with your business coach to understand the legal and taxation aspects. Is your business compliant with the laws of your county and state? What are the company registration laws and other regulations? What are the taxes you could incur? Will your cash flow be sufficient to cover these expenses?

5. You May Want to Find Your Feet Before You Consider Expansion

Once you taste success and the revenues start to come in, it is understandable that you can’t wait to expand your horizons. Perhaps, you may want to add more products, rev up production, or capture a wider market base. This article in SmallBizTrends explains that many small businesses fail because they start growing too soon. A smarter move is to understand carefully how the market works. Give your product and services time to develop a dedicated customer niche that will choose only your products above the others in the market.

You may also want to work out the added expenses you’d incur for hiring new employees or say, purchasing advanced machinery and equipment. Are you ready to take on this expense? Will your business be able to sustain the financial pressure?

Your New Company Need Not be a Statistic in the 20% of Small Businesses

Setting up and running a company may involve a lot more aspects than you initially plan for. Accordingly, it is wiser to have an expert business coach on board who can assist you with the decision-making process. Such professionals also help you remain focused on your goals and keep you accountable for the targets you initially had in mind.

Use all the assistance you can get to prevent your company from becoming a part of the 20% statistic. And, there’s no reason why you’ll have a successfully running (and, expanding) business on your hands 10 years down the line.

For Steven Scott Statistician Is the Coolest Job Title in the World

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A lot of people wonder why they should study statistics. According to Steven Scott statistician is probably the best job title anyone could ever have.There are many things that somebody can do if they become a statistician comma and that alone should be sufficient reason to consider it as a career.

 

Steven Scott Statistician Roles

 

As a statistician, you have the opportunity to truly changed the world period you can contribute to your community in a range of different ways. Perhaps you will be able to reduce disease and hunger, perhaps you will make medication more effective, perhaps you will become able to manage the way climate change impacts the world, perhaps you will be able to protect endangered species. These are just some of the things a statistician can do.

 

Additionally, the career of a statistician is a lot of fun. There are different styles of statisticians and there will be one out there for you. For instance, a Moneyball statistician works with major sports teams helping to find next season’s best players. Data Science statisticians usually work on major political campaigns. This shows the length and breadth of opportunities that are out there.

 

Not just that, statistician is a true scientist. If you have any curiosity within you, then it is likely that you will enjoy this field of work. You can ask the important questions and be involved in actually answering them. If you want to keep your brain engaged and find out how and why the world works, then statistics are your field of study.

 

It also helps that statisticians aren’t quite a bit of money. There has been a significant increase in demand for their skills and this has led to an increase in salaries as well. Someone with only 3 years of experience can expect to earn around $80,000 per year and those who have accumulated around 9 years of experience can expect to earn as much as $150,000 per year. Additionally, this is climbing.

 

There are numerous ways to become involved in statistics as well. Naturally, a bachelor’s degree in statistical reasoning, mathematics, sociology, or regular statistics, is an excellent starting point. Not just that, there are numerous online resources that help people remain more involved in statistics and develop their critical thinking skills. For instance, the New York Times Learning Network and the American statistical Association have developed a ’What’s Going on in This Graph?’ weekly challenge.

 

This challenges and encourages everybody to look at the world in a different way based on a graph that is provided to them and come up with answers to posed questions within the graph and article. The answers have been nothing short of fascinating and have really shown some of the greatest minds in the world. If you would like to make the world a better place by increasing people’s understanding of their surroundings and by building your own understanding of it as well, then becoming a statistician may be right for you.

How to Be a Successful Blogger Like Eva Lovia

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Being a blogger is a great career choice for anyone who wants to let their creative juices run free, and create an online community with like-minded people. One online personality who I absolutely adore is Eva Lovia, a social media influencer, restaurant reviewer and TV and online personality who’s work on travel and food are absolutely sensational. Eva is active across the internet and has created a strong community of followers around her work. If you want to be a blogger, this is the type of career you should be aiming for, and here is how to go about it.
 

Picking a Niche

People like Eva have gained a great amount of success not only because they create great content and provide value for their readers with their talents, but also because they picked a niche to stay within. In the case of Eva Lovia, this niche is food and travel. The reason behind this is that if you just write and produce content about your life in general, you won’t gain a loyal following, keep it niche an you will, as Eva’s Twitch following on her channel MadeWithLovia can attest.  

Engaging

It doesn’t matter if you have 2 followers or 2 million followers, you should always do all that you can to engage with your followers. The reason why a travel and cooking blogger like Eva is so widely respected is that she always look to engage with the audience and add value to the general user experience. Remember that when you are looking to be successful in this way, you are relying on people to come and see what you are offering, if you cannot engage with them then you are diminishing the value that they are getting, and not living up to the community idea of what blogging is all about.  

Reaching Out 

As well as engaging with your followers and readers, you should also be looking to get in touch with other bloggers within your niche, and look to form mutually beneficial partnerships. Eva for instance is a social media influencer because of the amount of following that she has, this means that if she mentions the site or blog of someone else, it is possible that her followers will then go and check out the site of her friend. Making partnerships like this can really help you to reach the top.  

Content is Key

Whatever kind of marketing you invest in, whatever kind of strategy for success you come up with, you should always remember one thing, content is king. Even if there is nobody looking at your content, you shod keep pumping it out and making sure that it is of very high quality. Any blogger lives and dies based on the quality of their content and this should always be your main focus above everything else.  

Stick to these tips, and you could become as successful as Eva.

The rise in private equity investments (and why companies are craving them)

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Over the last few years it would be fair to say that private equity investments really have come into their own. More and more companies dabbling in this financing seem to be on the scene, while the figures are suggesting that more are also pledging their money.

One only has to look at Sun Capital, led by Marc Leder, to see this. Their portfolio has grown considerably over recent times, and they are not the only ones.

Bearing this in mind, let’s now take a look at some of the reasons private equity investments are becoming so common and ultimately, more businesses are looking out for them.

Private equity firms have a track record of creating value

Something that pretty much every private equity firm has in common is that they create value. This is the bread and butter of their business; if they can’t do this there is no point in them investing.

For the business that is being acquired, this is obviously crucially important. It means that they are going to benefit instantaneously in ways that they probably wouldn’t have been able to take advantage of in the past.

For example, in the case of Sun Capital, this is an investment company that knows the restaurant trade inside-out. They own countless chains and immediately, this means that any business of this ilk that they take over is going to benefit from their expertise. This might be in the form of knowledge, in relation to what has worked for other restaurants. Or, it might be financial savings, due to the fact that they can have cost efficiencies through the sheer amount of equipment or ingredients they purchase.

They don’t tend to interfere profusely

There are some forms of investment that results in the investor interfering profusely. They will micromanage the existing management team, and this can be a nightmare.

When it comes to private equity, this is rarely the case. They are keen to leave existing management teams in place, and this means that wholesale changes don’t really occur.

Of course, as we have already alluded to, they do try and pass on some operational expertise. However, this relates more to strategy – meaning that you don’t have to have any concerns about meddling in day-to-day practices.

There is a vested interest in you succeeding

Sure, in every investment type the person or company pledging the money is going to want a healthy return. When it comes to private equity, they tend to arrive with a clear exit strategy though. Ultimately, they want your business to succeed, and they want this to occur in record speeds.

The upshot of this is that you will always have commitment; whether this is of the financial variety or related to their knowledge. You don’t have to worry about them slipping off and taking a backseat; it’s simply not sustainable for them to do this and they’ll want to help you every step of the way.

How Business Impacts The Environment

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Every segment of our world today is paying more attention to our environment. Individuals are recycling, governments are regulating, and business is looking for opportunities to improve the bottom line with greener techniques and procedures.

When the green movement really began to explode in the 1990s, much of the low-hanging fruit was still available. It was easy to rein in simple things like thermostat management and reduced water consumption in both industries and in our personal lives. These simple but effective steps continue to bring about some positive movement.

Over time, the challenge has become greater, and companies are having to dig deeper to find ways to reduce their impact on the environment. An area where many have had success is in equipment operation.

As one of the most expensive and energy-hungry parts of any business, equipment is an obvious choice for upgrades. After firms have identified and addressed the easy steps, it becomes much more difficult to achieve green goals, and equipment is one way to move forward.

The transition here is best seen as a change from finding a greener way to do old things to find a new way to be green with things. Getting that mindset established is key to making real progress, and there are real opportunities to do it with equipment upgrades.

Because the equipment is so expensive, it isn’t necessarily cost-effective to replace it just for environmental purposes. When that time does come, specifications should always be geared toward achieving maximum efficiency in each piece that is purchased or leased.

Part of the specification process should be a visit to http://ajweller.com to check their specialized steel products. These modern alloys are far tougher than traditional steel, and that durability is beneficial to the environment in several ways.

Decreased Frequency of Replacement

Heavy steel components are difficult to deal with. While many can be recycled or refurbished after their useful life ends, others cannot be handled in this manner. As a result, they end up as rusting piles of waste that represent thousands of BTU’s of energy used to refine them into the final product.

With more durable steel, these transitions are less frequent, and the part retains more value after replacement, making it more likely to be recycled.

Better Energy Usage

Worn parts are inefficient parts. Any moving component that has begun to deviate from original specifications will cause the machine to use more energy. A simple parallel is car tires; we know that a half-deflated set will force the engine to work harder to maintain speed.

With durable steel alloys, the wear on equipment components is much slower, allowing the machine to use less energy during production.

Reduced Downtime

Idled machinery is the enemy of industry. It represents workers with nothing to do and accounts receivable with nothing to receive. It also means energy wasted on lighting and climate control in a facility that is not producing, and the startup power required to resume production is costly as well.

Old steel alloys were notorious for generating downtime because the heavy-use components of machinery would often break down. An upgrade to better steel will keep those hard-working machines in operation a higher percentage of the time.

Cutting costs in industry is challenging, and doing so while being more environmentally conscious is an even taller order. Yet the process is becoming easier all the time thanks to new products like those produced by A.J. Weller. They are allowing industry to maintain high quality and low environmental impact.

How Big Of A Space Can Trade Show Display Companies Prepare?

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Any business that needs help with creating a nice display for a trade show might think about going big. This includes producing a larger display that features more room for posting larger images or more information that people who walk by a display might want to see. But when getting such a display ready, it is a necessity to look at how well the space can be sized.

Trade show display companies can help with producing large displays that can be as big as they have to be. A business can get such a display ordered to be as large as needed, but it helps to look at what can be done in this situation.

Eight Feet Is the Standard

In most places, a display can be around eight feet in height. This is a good enough measurement as it creates a display that is tall enough to be easy to see and notice without being overly massive to where it might feel far too overwhelming.

This can be used for general displays where certain graphics may be posted. It can be laid out with an image of something a company wishes to sell. Sometimes it might just be the logo of a business repeating in a pattern. Either way, an eight-foot display stand can be versatile. Trade show display companies will work hard to produce displays that fit this size standard.

A Ten-Foot Display Can Be Wide

Another option to find is a ten-foot display. This can be made to be ten feet high for displaying something even larger. It could do well when placed on the back end of a wall in a convention center or other site. Such a display would require an extra bit of physical support for it to stay intact.

A ten-foot display can also be just as wide. This would work for when the display needs to be more dynamic.

Go Even Bigger

A trade show display can be made with an even larger body. Although eight or ten feet is the height standard, a display may be wider than that. A display could be twenty feet wide, for instance. It could include more room to show off some unique features or images. It may also come with a design that can bend around in many spots to create a wavy look while on display. This can be attractive, but it must be designed with the right images placed around the best possible spots. Extra supports would also be required for something as large as this.

A big trade show display can be attractive if prepared right. Trade show display companies can help with planning out displays that can be big or small, but it helps to look around to see what might work for the demands one might have for getting it all ready. The goal is to prepare a great display that has a striking look that is intriguing without being too rough or otherwise hard to bear with in any situation. By having an attractive display you will be able to bring in more potential customers and have great success at the trade show!

How To Convey A Value Proposition To Potential Customers

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If a salesperson can’t adequately convey the value proposition of a product or service to a customer, he or she is unlikely to feel any urgency about buying it. In basic terms, a value proposition is a promise of value. It lets the prospect know how the product or service can solve a pressing problem.

A value proposition should outline specific benefits as well as explain why the customer should buy from that company instead of the competition. With sales closing averages hovering near 30 percent, it’s clear that not enough salespeople have perfected the art of delivering a convincing value proposition.

Start by Listening

Part of the problem is that sales professionals do too much talking and not enough listening. They’re trying to sell what they assume the customer needs without hearing what he or she is trying to say. To create a better customer value proposition, try asking the following questions:

  • What do you plan to do with the product or service you purchase from our company?
  • What metrics will you use to determine that you have solved the problem?
  • What will you and your business gain by purchasing from us?
  • What criteria do you use to select the best proposal?

It’s also important for sales professionals to understand that they can’t and shouldn’t try to reach everyone. This is no better than throwing sand at a wall and hoping that it sticks.

Go Beyond Trying to Get a Customer’s Attention

Any company can make a lot of noise, spend a lot on promotions, and get thousands of potential customers to notice what it’s trying to sell. Without a strong value proposition ready for the onslaught of leads, this type of attention often dies out quickly with little follow-through from the new prospects.

It’s also worth considering that coming across too flashy might turn people away instead. Consumers have developed short attention spans from advertising overload. They’re not interested in clutter, confusion, or an inconsistent message. Companies should work hard to build consistency in messaging and a positive brand image before even considering a new value proposition.

The Example of Slack

Slack is a productivity app that bills itself as simple yet dedicated enough to handle collaborations of large teams working on complex projects. Upon navigating to the website, visitors soon learn that Slack can simplify their working lives while making business more pleasant and productive at the same time. Who doesn’t want that? The homepage photo shows a picture of a robot on Mars, which happened because members of NASA’s Jet Propulsion Lab used Slack to work together on the launch. The message is clear. If NASA trusts Slack and uses it successfully, anyone can.

Slack also advertises that users can integrate all tools they use online into its platform. As this is a common pain point for users of cloud-based productivity apps, it makes sense to address it immediately. Finally, Slack wraps it all up with a simple three-word slogan “Be Less Busy.” It promises to help users achieve that with its many features.

Listening, offering true value, and demonstrating how the product or service hits multiple pain points are all good place to start for salespeople looking to improve their value propositions.

What Small Businesses Can Learn From Fast Food Joints

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When you are thinking about opening up a small business, or you’ve already got an existing small business that maybe isn’t progressing and growing as you had hoped, it’s normal to look outside your own goals and operations and see what other businesses are doing. How are they succeeding? How are they making a mark in their industry and managing to meet all the goals they set out to achieve?


While you may be tempted to look at the competition for inspiration and answers, there could be an industry that offers even more answers, and that industry may come as a surprise to you. No matter what kind of small business you own, did you know that you can actually learn a whole lot from fast food joints and how they operate? Sure it may not answer all your questions, but it can certainly shed light on areas that can then help you to succeed.

So what can small businesses learn from fast food joints? Let’s take a closer look.

They Know How to Find Staff and Fast

The employees you have are what help to make or break your company, so with that in mind you don’t have time to sit around and wait for that right candidate to fall into the job. This is where you can look to fast food joints. When they need staff they are proactive and take every measure to make sure they find the right person, and quickly. They understand that means posting their fast food jobs online, in the store, and even in the local newspaper if need be.

Then there is the job ad itself. They are usually specifically laying out what work experience is required, and the skillsand traits that can make a person a good candidate. Again, that can provide you with tips on how to craft your own job postings.

Be Transparent About Your Suppliers

Another thing that fast food joints are known for is using high-quality suppliers and then broadcasting it to the world. They want to be transparent when it comes to the food customers can expect, and show them that it’s better quality, which is therefore healthier. This is another lesson that small businesses can use, as they move to be more transparent about their suppliers and the quality of the products.

Branding is Everything

Fast food joints are pros when it comes to recognising that branding is everything. They know that they need to be aggressive in their marketing, getting the word out, and carving that niche for themselves in a highly competitive industry. Carving a niche and branding is essential for any company, regardless of the size of it or the industry it is in. Building a name for your company takes time, but it’s something that needs to be done.

Be Consistent At All Times

Fast food joints, especially those that are franchises, also need to be consistent. This means consistent in their menu options, the quality of their food, and the quality of their service. Consistency is something that customers appreciate and quite frankly demand, no matter what industry you are looking at.

While it may not seem like your small business has anything in common with fast food joints, as you take a closer look it’s clear that there is a lot you can learn from them.

Check Out This Guide On How to Track, Manage And Protect Business Leads

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Leads are the lifeblood of businesses. It is already an established fact that generating new leads will provide an opportunity to help your business grow. But you have to nurture these leads if they are going to turn into actual customers. However, they can leave faster than they came if you don’t have a working lead management strategy in place.

There are best practices that can be employed to ensure your sales force is effectively retaining and converting leads. From attracting prospects through strategic marketing campaigns to maintaining a working relationship that will keep them doing business with you; tracking, protecting, and managing your leads are activities that cut through your daily business activities that you should take seriously.

Competent Response service

The initial enquiry is an important aspect of sales. If the prospect isn’t impressed with the first response you provide, that relationship will likely end before it even begins. It is important that all incoming calls concerning enquiries are responded to professionally and courteously.

Availability is also an issue when it comes to converting and maintaining leads through calls. You may lose a big potential client by staying away from the phone even for a minute. Existing clients might be facing issues they also need to resolve quickly, and if you’re not available, they may turn to competitors for solutions. As a result, ensure there is always someone beside the telephone to take incoming calls. Your business can also benefit from employing a professional telephone answering service.

Customer Relationship Management (CRM) software

The days of going through tedious processes such as using excel sheets to keep record of and manually track leads are long gone. The process of tracking and managing leads have been made a lot easier through CRM software. The adoption of CRM is already widespread and your competitors are already likely integrating this systematic approach into their lead campaign strategies. Studies have revealed that overall adoption of CRM software has tremendously increased over the years, with Gartner forecasting that the industry will be worth $40b by 2018. The migration of CRM applications to the cloud has also become a game changer in lead management.

Your CRM software is an automated business tool that tracks everything concerning your existing customers and potential ones. The tool provides data that include the last time the customer contacted, the outcome of your customers’ interactions, and the best move to take based on their feedback.

Online strategies and Social Media

You can track and manage leads through internet strategies such as email and social media marketing. If you have a social media presence, you can track the needs of potential leads, identify what they are interested in, understand their pain points, and maintain a close relationship with them. Through emails, you can also reach out to your prospects and notify them on new products and offers.

Boost your business today through proper lead management procedures

Your leads should be treated specially as customers. Even if there is a chance they will not turn into clients, you shouldn’t take any prospect for granted.

Plastic Surgery to Fix Hardened Implants in Los Angeles and Other Issues Following Breast Augmentation

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Breast surgery is one of the most common cosmetic procedures in the world. Women want to look feminine and have a beautiful bus line. Sometimes, this means that women have to undergo breast augmentation surgery, creating a curvier, fuller look. Other women look at having a breast reduction. And other still simply look to have their existing breasts lifted.

There are many types of cosmetic surgery and many reasons to have it. No matter what however, doctors should ensure their patients have realistic expectations of how they will look after the procedure. Additionally, physicians must tell their patients that’s some things can go wrong as well. With breast implants, for instance, the implant could harden at some point. Dealing with this is simply part of overall maintenance. Hence, plastic surgery to fix hardened implants in Los Angeles may at some point be required.

The Need or Plastic Surgery to Fix Hardened Implants in Los Angeles

Breast implants are used in breast augmentation surgery period the implant is usually filled with either saline or silicone. While these implants last for a very long time, they do not last forever period sooner or later, they will have to be replaced. In most cases, women find they have to replace their implants once they Harden. Unfortunately, hardening of the implants is not reversible and the only solution is to remove them and replace them. Silicone implants generally do not harden as much or as quickly.

Another problem is that ageing and gravity cannot be stopped. Even with implants, breasts will start to hang downwards period eventually, this may look as if a woman never had surgery. If a woman notices this, they do need to speak to the doctor. Once gravity takes hold, women can choose to have their implants replaced for larger or even slightly harder ones.

Modern medical science has come a long way. In the past, breast implants were made from silicone. Unfortunately, some of these started to leak and cause significant health problems. So much so in fact, that they were removed from the market and had to be redesigned. In November 2006 however, the US Food and Drug Administration approved the new implants.

Today, we are on what is known as the third generation of implants. Most of those are silicone again. However, they are far better engineered and they feel a lot more natural. Unsurprisingly, women love them much more as well.

Should you have breast implants that are over 15 years old, you may want to make an appointment to have them reviewed. Well it is likely that there is nothing wrong with them, they may require a little bit of maintenance. You should also have a feel to see whether they have started to harden. If so, it might be time to consider a replacement. While you may not be looking forward to having more surgery, you are likely to be incredibly happy with the end result.