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Hub You - Solopreneur or Small Business Owner? Understand This: You Have No Competition!
As I write my 64th article about the Yellow Pages, it reminds me of how the best things continue to stick around. For example, the YP were started as a pamphlet in Wyoming over 100 years ago. It became an easy way to keep track of a small number of local businesses. Today, they are a household name. They are still the book picked up when someone has a need. There are few service businesses that don’t have an ad in the good ole YP.With the advent of the Internet, most nay-sayers have doomed the YP to the way of the dinosaur. They claim that people prefer the speed of the digital age. They point to more surfers using online newspapers and magazines as their first choice. But there is a fatal flaw in their thinking. You cannot compare ads online.Say you are looking for a plumber on the net. After you do your local search and get a li
Unfortunately, this often m
Some businesses are exploring the idea of this fast-growing medium of vehicle wrapping as an effective advertising tool. Small businesses, large corporations, media outlets and others that want to attract attention are turning to vehicle advertising as a means to that end. But be warned: vehicle wrapping is not for the faint of heart. While some of the basic vehicle graphic application skills crossover to wrapping, the latter requires more sophisticated techniques. So if you are considering venturing into the bustling world of vehicle wrapping, then read on to learn more about what it takes to get started or if you even should!To wrap or not to wrap?Vehicle wrapping is fast becoming one of the hottest forms of outdoor advertising with media houses actually buying the space on trailers from companies like Tesco's. Your fleet
Not at all.
As a coach who has consistently defied conventional wisdom as to what makes a successful coaching practice (NOT built on coaching other coaches!), let me share with you what I have learned along the way and what saves me EVERY SINGLE TIME I start to get overwhelmed or lose my business focus. It is so basic but SO critical to the success of solopreneurs and small business owners and it all boils down to that old saying, “KNOW THYSELF”. Simple, yes, but surprisingly difficult for many and a lot richer journey than you might expect.
What follows is a simple model that will help you see exactly where you can focus your business building efforts most effectively.
First, you do need to know a few things about your industry and those who specialize within it. This will give you the context in which your business exists. Consider these three major areas for your investigation:
1. Your industry as a whole (e.g. all coaches, all massage therapists, all nutritional consultants)
2. Those who share your ‘specialty’ (e.g. retirement coaches, those who do sports massage, those who specialize in the nutritional needs of menopausal women.)
3. YOU.
Trap #1: Becoming a Commodity
Not uncommonly, new businesses suffer from a lack of definition. To niche or not to niche? It’s a scary proposition to enter in to a new field, or to opt for self-employment and we often want to keep our options (for revenue) open. It is natural when one enters new territory to search for any measuring stick one can find to learn how to succeed in one’s chosen field.
Unfortunately, this often m
Have you ever thought of starting a wholesale distribution business? Maybe you're ready for a new challenge or have realized the profits that you can make when you deal with larger quantities of product. In any case, you need to know what to do in order to be successful.The first thing that you want to do is choose the products that you will be selling to retailers. You may want to choose products that you already know something about in order to use that expertise to choose quality products that you can then sell and make profit from. Make sure that you are testing the products prior to purchasing larger quantities. You want to be sure that you are always selling a superior product.These products will need to be stored somewhere, so choosing a warehouse is the next step in your wholesale business. You need to choose an area
What follows is a simple model that will help you see exactly where you can focus your business building efforts most effectively.
First, you do need to know a few things about your industry and those who specialize within it. This will give you the context in which your business exists. Consider these three major areas for your investigation:
1. Your industry as a whole (e.g. all coaches, all massage therapists, all nutritional consultants)
2. Those who share your ‘specialty’ (e.g. retirement coaches, those who do sports massage, those who specialize in the nutritional needs of menopausal women.)
3. YOU.
Trap #1: Becoming a Commodity
Not uncommonly, new businesses suffer from a lack of definition. To niche or not to niche? It’s a scary proposition to enter in to a new field, or to opt for self-employment and we often want to keep our options (for revenue) open. It is natural when one enters new territory to search for any measuring stick one can find to learn how to succeed in one’s chosen field.
Unfortunately, this often m
The Hospitality and Lodging Industry in the United States is booming with strong growth in overall revenues and average price per room. Notwithstanding external factors such as international terrorism and the rapid rise in fuel costs, most industry forecasts predict continued growth in revenue.Recent studies show however, that the industry suffers from a considerable loss in revenue and profits because of ineffective differentiation of service offerings and branding. This trend is recent because historically hotel customers have demonstrated brand loyalty.Private label drinking water has been proven to be a powerful, cost effective method of promoting quality brand images and differentiating service offerings.Opportunity LostThe Hospitality and Lodging Industry plays a major role in the U.S. economy with business tr
First, you do need to know a few things about your industry and those who specialize within it. This will give you the context in which your business exists. Consider these three major areas for your investigation:
1. Your industry as a whole (e.g. all coaches, all massage therapists, all nutritional consultants)
2. Those who share your ‘specialty’ (e.g. retirement coaches, those who do sports massage, those who specialize in the nutritional needs of menopausal women.)
3. YOU.
Trap #1: Becoming a Commodity
Not uncommonly, new businesses suffer from a lack of definition. To niche or not to niche? It’s a scary proposition to enter in to a new field, or to opt for self-employment and we often want to keep our options (for revenue) open. It is natural when one enters new territory to search for any measuring stick one can find to learn how to succeed in one’s chosen field.
Unfortunately, this often m
In today’s fast paced world there are few people that are enjoying prosperity. I mean true prosperity. I am talking about those people who wake up when they are done sleeping. They are people who can go on a vacation whenever they want to. People who when they shop for a car, they go with the intention of buying a new Ferrari or Porsche. 95 % of the people in this country do not have that kind of lifestyle. Most will fall in to one of the categories below. See which one you fit into, and if you fit into category 3, then congratulations you are truly prosperous.Group 1- People with No Financial SecurityMost people are working harder for less real money. Many are living paycheck-to-paycheck just be able to rent movies for the weekend until Monday rolls around so they can grind out another week. Some may even be working 2 or 3 jobs j
2. Those who share your ‘specialty’ (e.g. retirement coaches, those who do sports massage, those who specialize in the nutritional needs of menopausal women.)
3. YOU.
Trap #1: Becoming a Commodity
Not uncommonly, new businesses suffer from a lack of definition. To niche or not to niche? It’s a scary proposition to enter in to a new field, or to opt for self-employment and we often want to keep our options (for revenue) open. It is natural when one enters new territory to search for any measuring stick one can find to learn how to succeed in one’s chosen field.
Unfortunately, this often m
Name tags are identification materials worn by individuals that display vital information such as name, designation and possibly designs such as logos and other artworks. Name tags industry is a high volume supplies industry catering to the events planning industry such as trade shows, conferences and meetings. The industry supplies identification materials such as tags, badges and plates to professionals, entrepreneurs and media planners.Name tags come in different forms according to the requirements of the customer. The letters can be engraved, stamped or screen-printed, and letters can be different colors like red, blue and green. The material can be plain paper, plastics such as vinyl and polycarbonates. Choosing colors, materials and the type of lettering used can customize the tags. The price of nametags is based on the quality and
Unfortunately, this often means discernment gets tossed out and you can start to read every industry directive on what it takes to succeed as relevant to your business. It may not be. In fact, some of what you read may go so against your inherent strengths that you will risk being trapped in inefficiency and find yourself stalled and overwhelmed at every turn should you try to follow their recommendations.
It’s important to understand that what is common to all distinguishes none. Identify, the overlap of those skills and techniques that are the foundation of your industry, regardless of your specialty area. While it is critical that you have a strong foundation, do not allow yourself to believe that this alone will build your business. It will not. You will simply be an interchangeable entity with everyone else in your field where prospective clients are concerned which leaves them no reason to choose you on factors other than price and gives them no reason to be loyal to you.
Businesses playing to commodity will experience high turn over of clientele, poor return on investment for marketing efforts and lack of a clear direction in their business building efforts.
BEWARE: Distinctiveness today is commodity tomorrow. Once upon a time there was only one coach, or dentist, or widget maker. It was enough to just be that. As the field grows what is distinctive f
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