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What are the top 10 most profitable businesses in India? #business #name #availability


#most successful businesses

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Despite being a huge economy that ranks at number 3 in the GDP (PPP) league globally, India is a nation where the agriculture and unorganized sectors dominate employment generation. Contrary to what a lot of people may believe, we do not have a majority of our workforce employed by the organized sector.

The Indian workforce can be categorized by a simple and approximate formula – 65-35-15-85. Of the entire workforce, around 65% are engaged directly or indirectly in Agriculture, a massive number. This number will include farmers, farm labourers, transport workers, mandi workers, marketing people, rural business persons of all types etc. That leaves around 35% of Indian workforce, which we can call non-farm workforce. Of this 35%, not more than 15% are employed by the organized sector. They are paid salaries on fixed dates (almost), enjoy statutory benefits and can associate their work with some brandname of some credible size. The remaining 85% (of this 35%) are engaged in unorganized sector, that does not enjoy any of these characteristics. Are these not shocking statistics, for India, after nearly seven decades of economic independence? By the way, I have not counted homemakers and housewives, whose contribution anyway does not get counted in the GDP calculations.

We are a nation of 1.3 billion people (that’s 130,00,00,000 people). So it is clear there is abundance of labour available in India, that is untrained, unskilled (or at best partially skilled) and has a poor chance of making it in the formal organized sector. What do these people do? Well, they create small businesses of their own, and get on with their lives quietly.

Mainstream academia and media often speak disparagingly of these millions as “Mom-and-Pop” shops, because the comparison yardstick is the West, where most of retail is organized. But if these millions were to give up their businesses, and start pestering the governments of India (central and state) forSarkarijobs, the whole system will crumble and break down in no time. We should be very thankful to these entrepreneurs who quietly create opportunities for themselves, and even employ many more.

I assume by small. the question means really small, even micro. And “top 10” must be the range and spread. The ones I am listing below, are usually proprietorships of the most unstructured format. I am intentionally not counting the Small-scale enterprises in the manufacturing sector. I am also leaving out individual contractors that use the internet economy to work from home, on projects anywhere in the world (these are educated and very capable people).

In my opinion, ten of the smallest of businesses (not counting agriculture related work) that are widespread across India, totally taken for granted, and where literally crores of Indians (1 crore = 10 million) are self-employed, can be listed as:

  1. Small retail shops – Millions of them spread across the length and breadth of India. They are usually owned by a single family, and entire work is done by two or three members of the same family. They do not formally book every transaction, and issue no receipts. Hence, they generally pay no taxes at all. In fact, if they are forcibly dragged in the tax net, many of them will simply become unviable! So what will happen? Right now we have around 1 million young people entering the workforce each month. Or 1.2 crore each year. We will substantially increase the number if these shops collapse.
  2. Paan ki dukaan – Indians love their paan, supari, cigarettes, tobacco, and gutkha! And this gives birth to the legion of Paan Shops we see everywhere. They form a key part of the marketing plans of consumer goods giants like Unilever etc. As they say, the Ps of marketing are Product-Price-Promotion-P lace-and-Paan shops.
  3. Readymade Garment shops – Thousands of these small shops cater to the needs of the local communities they serve. While all conceivable brands are available in big malls, the small shops cater at an atomic level to their customers’ needs. And they are busy all year round. One can be often surprised at the economical rates these offer.
  4. Tea stalls – Popularly called chai-ki-tapri. these are hangout places (for a few minutes) for the local small office-goers, daily wage labourers, and anybody passing by. Usually run by a single entrepreneur, they employ chhotus, young boys barely 8 or 10 years of age. It can be seen everywhere in India. They serve tea (of coffee), some basic snacks like pakoras, etc. Wholesomely unhealthy if taken on a daily basis.
  5. Auto Repair shops – If you do not wish to spend a lot of money to get your vehicle (2 wheeler or 4 wheeler) repaired at the branded sales outlet or service centre, then the roadside repair shop is always at your disposal. Business is always brisk, and the technicians working can be amazingly skilled.
  6. Mobile repair / accessories shops – The past few years have seen employment generation through this route. Tiny shops that are run by just one or two people can cater to a vast range of your repair / recharging needs. Found almost everywhere.
  7. Grocery Daily need shops – A type of the small retail shops. Some of them are organizedkirana stores, others much smaller but equally useful. They develop customer relationships through home delivery, some credit, and informal support for a range of needs. Usually have dedicated and loyal clienteles. The arrival of organized retail has, so far, not affected them much.
  8. Small restaurants / coffee shops – Lots of them dot the highways as dhabas. or all commercial roads in cities of all sizes. They are usually much cheaper compared to branded cafes. I remember enjoying a hearty meal (for a family of four) for Rs 36 when we hungrily went to a very small “south Indian” restaurant on a mountain side in Munnar, Kerala. What a meal it was! And what a rush the restaurant was handling. Such experiences make you want to become a food entrepreneur (the yummy margins! ).
  9. Seasonal shops – Every festival in India brings unique buying needs, and that leads to sprouting of such shops in specific areas of all towns and cities. So, during the Ganesh Chaturthi festivals, shops spring up overnight selling pooja samagri (material for religious prayers) and idols. Similarly, Deepawali sees fire-cracker shops and Holi brings with it gorgeously colourful temporary shops. All dealings are naturally in pure cash!
  10. Hawkers of all types – Not to be outdone by the above, we have a whole range of hawkers who shout themselves hoarse strutting their stuff door-to-door, all day long. They do this on bicycles, or thelas, and it must be very exhausting work.

I personally feel that society ought to respect these individuals much more that it currently does. They are the most basic building blocks of our goods and services markets. The entrepreneurial streak of these unsung heroes can be very motivating if we see the sheer struggle their daily lives entail.

As India moves forward, while our economy will get more structured, the simultaneous growth of our population is going to make formal employment generation a huge challenge. Interesting times ahead!

There is a contradiction in the question: What are the top 10 internet business models that are currently the most profitable and easiest to copy in a new market?

The most profitable business model will not be the easiest to copy since by definition anyone can copy that business model, compete with the original business model and so bring down the profits of the business model as a whole.

Examples of most profitable internet business models typically depend on dominating the long-tail. This requires these businesses to operate at a lower cost than if manual / human processing was required, and capitalize on improving the signal to noise ratio using algorithms at scale. It is difficult for substitute businesses to develop the same scale later as collecting huge amounts of long-tail data takes a long time (years)

Google search: Have data on long-tail search terms and creates a market place where participants can bid to reach most relevant customers.

Amazon.com: Have organized information of long-tail products for sale and offer unparalleled selection, prices are reasonable, inventory overheads are low (they need to stock a few items globally compared to a few items per physical store)

Ebay: Created an auction marketplace where buyers can bid for long-tail products offered by sellers world-wide. The larger the number of buyers, the larger the number of sellers and Ebay makes a cut off each transaction.

Wikipedia or Yahoo Answers: Long-tail content is generated by users at little / low expense to the company, content is relevant and used years after it was originally created. Bulk of the content is accessed only a few times every month but collectively drives billions of page views a month. This can be harvested by basic online advertising.


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Are there any government loans available? #small #business #development #center


#government small business loans

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Mr Mark Brennan commenced in his role as the Australian Small Business Commissioner on 2 January 2013.

Dr Craig Latham commenced in his role as Deputy Small Business Commissioner on 21 May 2013.

The role of the Australian Small Business Commissioner is to represent small business interests and concerns to the Australian Government.

There are Small Business Commissioners in Victoria, New South Wales, Western Australia and South Australia.

If you are in a business dispute, Dispute Support can assist you to find the right dispute resolution service

A good understanding of your dispute will help you to make informed decisions about the best way to try to resolve the dispute.

Tips from the Australian Small Business Commissioner to help you build strong business relationships and avoid disputes

Find out about dispute resolution services available in your state or territory.

There are publications available to assist you to understand, manage and prevent disputes.

It is difficult to know where to begin when starting your own business. It’s important to consider whether you really understand what’s involved and that you are aware of your tax and legal obligations.

Are you are thinking about expanding your business? Here are some suggestions that could help you grow your business.

Once you decide to sell or pass on your business, you need to consider how much your business is worth, the best time to sell and whether you should make use of a broker or other professionals to maximise selling opportunities.

There are resources available to assist you with starting and growing your business.

The family business sector accounts for 70% of all businesses in Australia.

Family Business Australia’s top ten tips for surviving a family business.

Family Business Australia’s best practice principles for family business.

Read case studies from family businesses.

Find out about upcoming events and training tailored for family businesses

Find answers to the most frequently asked questions about starting, growing and exiting a business.

Planning should always be the first step in developing a business.

Checklists that contain a series of questions to guide you through the various stages of setting up your business including before you start, when you start, when you buy and when you run your business.

Links to help guide your business.

View news articles from the Australian Small Business Commissioner.

Find out about upcoming small business events that Commissioner and his Office are involved in.

Keep up to date with the Commissioner’s newsletter.

View submissions and reports by the Office of the Australian Small Business Commissioner

The latest small business news from across the Australian Government, including ACCC, ASIC, ATO and business.gov.au

View blog posts from the Australian Small Business Commissioner.

View series of related blog posts.

Top 5 FAQs

Easy way to stay up to date

Are there any government loans available?

Support


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What are some profitable business ideas to start in a small town? #e #business


#profitable business ideas

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you can have the best idea in the world, but if people don t care. you won t make a dime!

i m in a facebook mastermind group, and i asked what stopped everyone in the group from starting their own business, and most of the responses were.

i have no idea

my friend had a difficult time starting his business. he kept complaining to me how he doesn t have any good business ideas. he was waiting for the perfect idea to fall on his lap.

so i told him to not wait for the perfect idea. just start with a boring idea that has DEMAND.

so i gave him my 5 day business formula to find an idea, test demand, and get people to send him money.

he applied my formula, and in 5 days he got 5 sales. with no product, and no website! he just posted on facebook and got 5 people to send him money.

he applied it in other areas as well, and it also works! it works for online, offline, physical products, or even local services.

he finally realized that at the end of the day, its not about finding the perfect idea. its about starting with a boring idea and test if there s demand — test if people are willing to pay for your idea.

you can have a perfect idea, but if there s no demand. it doesnt matter. it will never take off!

you dont need to start a HUGE company like google or facebook on day one! just start something small. and then slowly grow from there.

the 5 day business formula is something that i ve used before but have never thought about teaching to anyone. it s something similar from the lean startup and the startup weekend methodology where you build a minimum viable product. except that my process doesn t involve building a product or even a website. you use what i call lightweight testing to test your idea without investing alot of time or money into it.

i ve used it to test a local food delivery service, web freelance service, and other types of businesses and product ideas.

its a useful way to test your business idea without spending any money or time on building a product, or a website.

it goes something like this:

1. brainstorm a list of ideas. a minimum of 20 ideas is good. it doesnt matter if its a good or a bad idea. at this stage, you re just listing down all kinds of ideas. (ideas are all around you. see what products people are currently buying.)

2. afterwards, you do some research. is there demand for your idea? you can talk to people, do kw research, or use my eavesdropping technique. http://www.hustletothetop .com/ge.

3. if there s no demand, you go back and choose a different idea from your list and test it again until you find an idea that has demand.

4. if there is demand, you simply get people to pay you money to validate whether your idea is something that people are willing to pay for or not! its not enough that people say yes . see if they pay! it doesnt even have to be the full amount. if they pay, then you have a validated business idea.

5. then you manually deliver the product or service. if you dont have a product, you do dropshipping.

6. once you have a validated idea — ie. 3 to 10 sales — that people are willing to pay for. then you reinvest your profits into the business — build a website, etc — and create systems to automate and systemize your business so that the business works FOR you.

thats just the gist of it. you can use it to start a niche online business, or a local offline service business to earn some money on the side.

1. ideas are worthless. it s all about execution and demand! dont waste time waiting for the perfect idea to fall on your lap. just start with a boring idea and test if there is DEMAND. at the end of the day you ll make more money with a boring idea that has demand, instead of chasing after the mythical perfect idea that will never happen.

2. you dont have to start something new. just copy what other businesses or products that are already selling well. customers pay for products or services that solve their problem. they dont pay for you to have a unique business idea.

3. if you cant beat them, join them. instead of working against your competitor, why not work together. they already have the hot selling product. just help them to sell it while you split the profit. that s how i first started my online business in the tourism niche.

The last part of your question start in a small town creates the impression that your physical location is a determining factor in your choice of business ideas.

With the technology we have available today you can stay in a small town, however, and access a global market – serving customers who do not necessarily live in or visit your town. This opens more opportunities that definitely can be more profitable.

One business idea is to sell software solutions that will help people work smarter instead of harder.

In a related post you will see the reasons why you do not need technical knowledge, a technical team or up-front capital to pursue this business idea.

You can focus all your efforts on marketing existing solutions and/or you can create your own solutions.

Practical steps you can take:

  1. Find an itch in the market that needs scratching . This is the key success factor and it will determine the probability of achieving success. If you can identify a need and solve it, well, then you are in business.
  2. Create (or clone) a simple yet effective solution for this itch .
  3. Market your solution. The better your solution scratches an itch , the easier marketing should become.

This business will require some effort up-front, but after selling your first solution you ll start earning recurring income – without much additional effort.

Plus, you can stay in a small town with all the benefits of a close-knit community without being restricted to their spending potential.


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What are some good home-business ideas for a stay-at-home Indian woman? #how #to #finance

#at home business ideas

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There are many things you can do. Plus, you have the advantage of being more educated than your peers.

Firstly, I d suggest you to try and build an audience for yourself. The best way to get started with that would be to write a blog.

Do you have a hobby? Do you have a particular skill? You could help others pursue that hobby or learn that skill and make some profit from it too.

More often, we tend to have gained some skills by doing something, skills which complement the main thing. So, if you were a teacher, you d also to need to have good communication, crowd control and problem solving skills in addition of having the skill to teach. Try to explore these hidden skills of yours.

You mentioned that you had a child, did you pull off some clever skills or hacks while you were pregnant or your baby was growing up? Chances are many other women will also be in the same problem as you were in, write a book (eBook will be a good option here) detailing the problems and solutions you came up with. Sell it to the audience you have created. Initially, the money will not be that great, but if you keep coming up with good content and market yourself, there should be no problem in being able to run earn the money you want to.

Try reading new books, they help a lot. I recommend The $100 Startup. This book specifically profiles people who have earned around $50,000 a year doing things they love. Almost all the businesses mentioned here are not skill intensive and can be operated by anyone. Plus, the author also gives actionable advice on how and where to get started and what can you do to enjoy freedom and earn money.

Here s a list of what all you can do, according to me. Although, it would have been easier to answer this if you would have told, in which city you live and how much investment can you do. Still, I will try to do my best.

1. Teach what you know the best: Investment Banking — Apply in schools to teach commerce students of higher grades or apply in colleges. With industry exposure and experience I am sure you will easily get a job. Later, you can earn some extra money by giving tuitions in the evening. A teacher, teaching in a college and then giving tuitions can easily earn around 50,000.

2. Start Blogging: [ A lot of people below have listed blogging to earn money through Ads or affiliate marketing, but this will take time, it takes atleast 3 to 4 years to start earning a healthy amount through blogging and that too if you are regular blogger and understand lot many complexities like SEO, coding etc.]. Write about things that you understnad, you are at home, so you have time to research and read. Write your own articles and analysis about various mergers, economic trends, stock advices, etc etc. Publicise your blog through facebook and linkedin. Now use this as your customer base. Then start a separate consultancy and advisory. The way Google earns money. Give some services for free like research and analysis, in your case, and then earn from the presence of people. Later, with high traffic you will also be able to earn money from Ads. Also, if you will have a set of audience reading you per day, later you can also start writing for newspapers or magazines.

3. Start an Activity Centre: [ This is the reason, I asked how much investment you have. In both the options mentioned above, you will not need any investment but for this one, you will need an initial investment ]. Take a space on rent, or better if you have a hall and one room vacant in your home. Put 2 Pool tables, some table chair, an LCD or a Music system will also work, Free Wifi and provide some snacks. All this will cost around 2 lakhs of investment. Charge around Rs. 20 per person/per hour for the pool table. 8 people = Rs. 160. Assume that the shop remains operational for around 10 hours, our of which people play pool for say 5 hours, or for 5 hours the tables remain occupied. This will amount to Rs. 800. [Some times it may happen the tables are not fully occupied, that s why I decreased no of hours of occupancy. ] Provide snacks like, Masala Cola, Soda Lemon, Juice, French Fries, Burgers etc etc. They have high margin and it doesn t takes much expertise to make them. The free wifi and these snacks will make it a fun chill out and hang out place. People will come and spend time. Even if you will be able to make Rs. 400 from the snacks vertical. In aggregate you will be able make around Rs. 36,000 to Rs. 40,000 per month. Later you can expand to have a gym on the next floor or something.

4. Open up a Coaching Centre. This is similar to the 1st point. Education is the best business in India these days. One can easily earn Rs. 20,000 to 30,000 just by giving home tuitions in the evening, 4 to hours thats it. So you obviously will not give home tuitions, but open up your own coaching centre. Hire a teacher in the start, to teach subjects in which you are not very good. Preferably hire a college student as, they will be more enthusiastic and eager to teach and will charge less money, all they are concerned about is to make some extra bucks. Start with teaching commerce students, teach subjects that you know. May be 1st year you will not make much, but yes second year onwards you will have a decent income. And trust me this will rise exponentially. May be in 3 or 4 years, you will be earning much more than what you have expected above in the description, provided you give some good results and better branding.

5. Start Investing — You understand companies and you understand market. Start with a decent amount of Rs. 2 lakhs. Have a varied portfolio. With some technical analysis and a good knowledge, it wont be hard to make 20% return. And obviously later you will earn compounded returns. You will be able to make much more money after 2 or 3 years.

I hope some of these points will help and If any of these do work, then give me some tips on Investment Banking, or preferably teach me. P As, I want to be an Investment Banker and currently working in the same field. )


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Where are They Now? Patrick Donnelly in Cincinnati Business Courier Forty Under 40 Retrospective

#cincinnati business courier

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Where are They Now? Patrick Donnelly in Cincinnati Business Courier Forty Under 40 Retrospective

June 20th 2016 at 3:13PM

Twenty years ago, Patrick Donnelly, then associate principal and director of client services at BHDP, was recognized in the Forty Under 40 class of 1996 from the Cincinnati Business Courier. In a rare retrospective of all winners from this highly motivated class, the Business Courier reports on the current standings of each nominee.

Today, Patrick Donnelly continues his work at BHDP, now as an owner and client leader.

As the article reports:

A lot has changed since 1996. The Forty Under 40 awards were only in their second year and the Business Courier received 120 nominations. (This year, we received 426 nominations.) However, the focus was the same: We were seeking up-and-coming business leaders making a difference in the community.

The emphasis is on leadership and potential leadership – whether it is in business, finance, politics, nonprofits, education or public service. Focus is also placed on the nominee’s community involvement. Most of our honorees have made good on the early promise they showed. Among them we count 14 company presidents, nine sitting CEOs, three business owners, two law partners and one judge.

2016 BHDP Architecture. All rights reserved.


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Quizzing in India: What are some of the best business quiz questions you –

#business quiz

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Personally, my favorite questions are those which have me wide-eyed and wondering –Seriously? – when the answer gets revealed. Two that come to my mind:

1. What will be offered by Kashi Vishwanath temple in association with Shri Prakash Raghuvanshi?

This was asked by Pickbrain at Tata Corporate Crucible, Gurgaon in Sept 12. Now I have spent the last 4 years in Banaras (location of the temple) and I honestly thought this question lame (I mean could be any offering- clothes, jewellery, left-over temple flowers, exotic sweets). Until the answer was announced:

Ans: PACKAGED MANURE (1)

2. X has had over 43 pets including 21 dogs, 12 horses, 3 ponies, 6 cats, a parrot, a chimpanzee, a panda, a lion cub, a giraffe and a zebra.
AND… 80 careers everything from a rock star to a paleontologist to a presidential candidate.

Question asked in a school quiz in Dubai several years ago. The guesses ranged from Arnold Schwarzenegger, some Arab Sheikh, Elvis Presley. One team actually came very close to the actual answer with Sarah Palin! (2) Of course, the answer was:

Hard to pick one, but here are some of my favourites:

1. In 1928, AT T s Western Electric established a division for the specific purpose of installing and servicing their loudspeakers and electronic products for motion picture use. Called E.R.P.I. (Electrical Research Products, Inc.), it was purchased as part of a consent decree in 1936 by a group of E.R.P.I. executives, including George Carrington, Sr. and Mike Conrow. They changed the name to All Technical Service Company .
How do we know this company today?

Ans. Altec ( All Tech ) Lansing.

2. A person with ___________ is open and available to others, affirming of others, does not feel threatened that others are able and good, for he or she has a proper self-assurance that comes from knowing that he or she belongs in a greater whole and is diminished when others are humiliated or diminished, when others are tortured or oppressed.
What modern-day product takes its name from the above mentioned philosophy mostly because it is based on the same principle?

3. Started in 1945 by two friends Burt X and Irv Y. with the merging of their respective individual shops, XY has since become one of the leading companies that sell Z. It is distinctly recognized by its logo which contains a number – signifying the number of varieties of the product it sells.

Its new logo, revealed in 2005, is hailed by many as one of the most innovative logos of all time for its clever inclusion of the above mentioned number into it.

Ans: Baskin-Robbins (X-Y) and if you don t know what they sell, I suggest you go out more often.

A few questions which I really liked.

1.After India became independent in 1947, the Planning Commission was entrusted to oversee and direct the development of the nation. India grew rapidly in the 1950s, and in the late 1950s the Commission started facing difficulties in finding suitable people for the large number of enterprises that were being established in India as a part of its industrial policy. To solve this problem, the Planning Commission in 1959 invited Professor George Robbins of the University of California. What resulted?

2. The name of this website stems from a Hindi phrase used on anyone who attempts to achieve the impossible. Started by Wharton graduate Allwin Agnel in 2003, its mascot is named ‘Monsieur Green’. Which website?

3. The following table gives the exchange rates of a certain currency in three different denominations. Identify what has been blanked out.

4. In what way is this photo of Lord Pethick Lawrence and Mahatma Gandhi, taken on April 18, 1946 significant to this day? (Question Courtesy: Navin Rajaram )

5. As a part of the Windows Vista makeover what did Microsoft add to the game Minesweeper (blanked out in the pic shown below) and why?

6. Shown below is a character from an unique language which caused an outrage from a certain group when it was dropped from Wikipedia’s official logo in 2010.Which Language?

7. This is Hannah Steller photographed by her older brother, Dustin Steller. The photo was originally uploaded to iStockphoto in August 2005 as a result of which, it made her immensely popular all over the world.
How/what is she known as?

8. It was discovered that defects in the sphere from knicks and scrapes of normal use, could provide it with a truer flight than a pure sphere. Thus,makers started creating intentional defects in the surface by hammering to give it an evenly dimpled shape which would cause it to have a more consistent flight. Funda behind what?

9.This is a letter sent to ‘Lady Gaga’ by the firm she had previously threatened to sue for a certain product. What was the product and the controversy?

Further to our letter of 9th March, we note that we have not heard back from you or from your client Lady Gaga despite your demands that we respond to your letter by 4.00pm on 9thMarch.

In fact you have not even confirmed receipt of the letter which was emailed and delivered to you by hand.

As you will have noted from the contents of that letter, the product your client described as ‘nausea-inducing’ and ‘possibly unfit for human consumption’ was given a clean bill by the authorities last week.

We are therefore seeking your permission to re-launch our ______ in a way which will not offend, upset or distress your client in any way. As such we are holding a ‘Name the Baby’ competition and asking for the approval of one of the following names.

10. In an interview to Walter Issacson, when asked about life and death, Steve Jobs said Sometimes I don t. It s 50-50. But ever since I ve had cancer I ve been thinking about it more, and I find myself believing a bit more. Maybe that s because I want to believe in an afterlife, that when you die it doesn t just all disappear. The wisdom you ve accumulated, somehow it just lives on.” He further added that he implemented this philosophy in his products. What feature or rather minimalism was implemented in Apple products because of this?

——
(Please answer in comments. I hope that the answers can be can be worked out by a combination of knowledge and by a few assumptions. I would add the answers after a few people have attempted)

I would also like to add the biz questions (Twitter, Campbell s Soup, Ambergris and Kit Kat mail) from my answer to What are some of the best quiz questions you ve seen to this list as well.


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Small business: 21 tips from entrepreneurs who are killing it #business #web #hosting


#small business tips

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21 tips from small businesses that are killing it

STARTING a small business is a dream for many Australians, but it can be daunting.

Here, entrepreneurs who are killing it in a range of industries share their best piece of advice for making your company a success.

1. Deliver a consistent customer experience.

Damian Cerini, owner of cycling tour business Tour de Vines, says you need your business to almost run itselfbefore you look at growth. The thing about working for an employer is that the business model is already set, it s about the execution of the idea, whereas a new business is about testing the idea first and developing the systems.

2. Add a personal touch.

Angus Askew, co-director of commercial asset financing company Magnolia Lane Financial Services, says: In our industry like most service industries everyone is essentially selling the same thing, you ve just got to do it better. Our number one goal when dealing with a new client is to establish a relationship and make them feel special. Make sure you are remembered. We make it our priority to see all of our customers face to face. Create a rapport as this is what will result in repeat business and an income stream for life.

3. Leverage social media.

A strong marketing strategy is essential in every industry, says Anthony Kittel, director of manufacturing firm REDARC. That means social networking on LinkedIn, Twitter, Instagram, Facebook or all of the above. Our brand is everything, so whatever we can do to promote that brand and consumer awareness is critical.

Author and Flying Solo editor Kelly Exeter says a less frantic life made her more productive.

4. Write your own business bible.

Matthew White, whose firm Ergoflex sells memory foam mattresses, says the volume of information available can be overwhelming. He recommends writing ideas and tips in a notebook or tablet as they come up. It has helped me make some major decisions, and also saved me hours of searching for something I ve read somewhere.

5. Focus on your specialty.

In the first few years, there can be a lot of pressure to diversify your offering, says Paris Cutler, director of cake decorating company Planet Cake. Stick to what you do best and do it better and with more focus than anyone else.

6. Outsource the things you don t do.

Resist the temptation to chase work outside your offering, and use a specialist to fill in any gaps, says Rhys Roberts from accountancy firm Viridity. I outsource my HR, my IT, much of my marketing and more. The time you free up you can spend doing what you are good at.

7. Aim high and be persistent.

Determination is one of the vital qualities needed when you start on the long road of setting up a small business. Rochelle Miller, co-founder of fashion retailer Another Love, says: Believe in yourself and your strengths. Don t take no for an answer. There will be bumps along the way, but everything has a solution or another option.

Consultant Andrew Griffiths thinks about ways to improve his business each day.

8. Embrace a life less frantic.

Kelly Exeter, author and editor of small business community Flying Solo says it s all about finding the right balance for you. I am learning that I don t just need physical space to thrive, I need mental space too.

9. Follow your own path.

Designer and illustrator Beci Orpin says she s not naturally business-minded, but has always worked really hard and built up a strong folio of work. My business is all about me: my style and what I create, so an important part of developing that was staying true to myself not worrying about what other people were doing.

10. Take time out to think about how to improve.

Use your best hour in the day to consider ways of moving forward, advises Andrew Griffiths, a small business author and consultant. He does this first thing every morning. Then, each Friday, I find a quiet place and ask myself a question: How is my business better this week than it was last week?

11. Harness your keystone habits .

Entrepreneur and blogger James Clear says we should find the one or two habits or routines that make everything else fall into place. Improving your lifestyle and becoming the type of person who has their act together isn t nearly as hard as you might think.

Life coach Kathryn Hocking researches what competitors are doing.

12. Practise mindfulness.

Freelance journalist and editor Jodie Macleod says it increases productivity, reduces stress and improves memory and focus. Mindfulness is when you are aware of your thoughts, feelings, sensations, breath and everything occurring in the present moment, without attaching judgment to those observations.

13. Every setback is a stepping stone to success.

Lucinda Lions from branding agency Slogan Creator says it s important to stay positive wherever possible, and see feedback, not failure. I remind myself tomorrow is a brand new day, a new opportunity to think differently and make better choices.

14. Hire from within your networks.

When Sarah Wilson from I Quit Sugarbegan feeling overwhelmed with work, she decided to get an assistant. She put a call out to her community, knowing taking someone on would involve sacrifice. Five years later, they still have a successful working relationship. Start out small and then leave the invitation open for expansion.

15. Keep it manageable.

Kate James, start-up coach at Total Balance, says it s important to remember that it s not all about non-stop growth bigger isn t better if you ve stopped enjoying what you do. You need to define your own version of success. Mine is that I need to love my business.

Sarah Wilson says you need to know when to ask for help. Source: Supplied

16. Know when to work for free.

Vanessa Emilio from Legal123, says sometimes working for free is worth it. Free doesn t mean offering an entire job or product for free. It could mean a free initial consultation, free component of a project or complimentary muffin with every coffee.

17. Stay excited and believe in your business.

SEO copywriter and consultant Kate Toon says start-ups should think about clients needs and possible issues and create rational responses to persuade them your business is the solution. Inject warmth, professionalism and even humour, where appropriate. Being human beats boring every time.

18. Learn to say no.

Recognise when a client has unrealistic expectations and nip it in the bud early, or consider referring them on, says author and media commentator Andrew Griffiths.

Try a formal, structured response and keep returning to it. Try, Thank you for the opportunity, but we are so heavily committed we can t give your project the time and attention it needs.

If you re on a tight marketing budget, think about how you can trigger word-of-mouth interest. Warren Harmer of The Business Plan Company mentions a small florist that did this brilliantly by 1) Offering quality; 2) Providing value; 3) Inspiring team members to love their job and clients and 4) Creating a physical environment that excited their market.

20. Turn competition into inspiration.

Life coach Kathryn Hocking suggests you research what competitors are doing to help identify what makes you unique. Your relationship doesn t have to be adversarial: they could be a mentor, partner or friend. Focus on your own purpose and connect with peers that have similar values and who inspire you to greater levels of success.

21. Know when to take a dream detour .

Sometimes it s hard to know whether to grab a fresh opportunity or stick to your path. Business mentor Lynda Bayada says you need to outsmart your head so you can listen to your heart. Give yourself space and trust yourself. And you ll find that s half the battle won.


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What are some profitable business ideas to start in a small town? #dallas #business

#profitable business ideas

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you can have the best idea in the world, but if people don t care. you won t make a dime!

i m in a facebook mastermind group, and i asked what stopped everyone in the group from starting their own business, and most of the responses were.

i have no idea

my friend had a difficult time starting his business. he kept complaining to me how he doesn t have any good business ideas. he was waiting for the perfect idea to fall on his lap.

so i told him to not wait for the perfect idea. just start with a boring idea that has DEMAND.

so i gave him my 5 day business formula to find an idea, test demand, and get people to send him money.

he applied my formula, and in 5 days he got 5 sales. with no product, and no website! he just posted on facebook and got 5 people to send him money.

he applied it in other areas as well, and it also works! it works for online, offline, physical products, or even local services.

he finally realized that at the end of the day, its not about finding the perfect idea. its about starting with a boring idea and test if there s demand — test if people are willing to pay for your idea.

you can have a perfect idea, but if there s no demand. it doesnt matter. it will never take off!

you dont need to start a HUGE company like google or facebook on day one! just start something small. and then slowly grow from there.

the 5 day business formula is something that i ve used before but have never thought about teaching to anyone. it s something similar from the lean startup and the startup weekend methodology where you build a minimum viable product. except that my process doesn t involve building a product or even a website. you use what i call lightweight testing to test your idea without investing alot of time or money into it.

i ve used it to test a local food delivery service, web freelance service, and other types of businesses and product ideas.

its a useful way to test your business idea without spending any money or time on building a product, or a website.

it goes something like this:

1. brainstorm a list of ideas. a minimum of 20 ideas is good. it doesnt matter if its a good or a bad idea. at this stage, you re just listing down all kinds of ideas. (ideas are all around you. see what products people are currently buying.)

2. afterwards, you do some research. is there demand for your idea? you can talk to people, do kw research, or use my eavesdropping technique. http://www.hustletothetop .com/ge.

3. if there s no demand, you go back and choose a different idea from your list and test it again until you find an idea that has demand.

4. if there is demand, you simply get people to pay you money to validate whether your idea is something that people are willing to pay for or not! its not enough that people say yes . see if they pay! it doesnt even have to be the full amount. if they pay, then you have a validated business idea.

5. then you manually deliver the product or service. if you dont have a product, you do dropshipping.

6. once you have a validated idea — ie. 3 to 10 sales — that people are willing to pay for. then you reinvest your profits into the business — build a website, etc — and create systems to automate and systemize your business so that the business works FOR you.

thats just the gist of it. you can use it to start a niche online business, or a local offline service business to earn some money on the side.

1. ideas are worthless. it s all about execution and demand! dont waste time waiting for the perfect idea to fall on your lap. just start with a boring idea and test if there is DEMAND. at the end of the day you ll make more money with a boring idea that has demand, instead of chasing after the mythical perfect idea that will never happen.

2. you dont have to start something new. just copy what other businesses or products that are already selling well. customers pay for products or services that solve their problem. they dont pay for you to have a unique business idea.

3. if you cant beat them, join them. instead of working against your competitor, why not work together. they already have the hot selling product. just help them to sell it while you split the profit. that s how i first started my online business in the tourism niche.

The last part of your question start in a small town creates the impression that your physical location is a determining factor in your choice of business ideas.

With the technology we have available today you can stay in a small town, however, and access a global market – serving customers who do not necessarily live in or visit your town. This opens more opportunities that definitely can be more profitable.

One business idea is to sell software solutions that will help people work smarter instead of harder.

In a related post you will see the reasons why you do not need technical knowledge, a technical team or up-front capital to pursue this business idea.

You can focus all your efforts on marketing existing solutions and/or you can create your own solutions.

Practical steps you can take:

  1. Find an itch in the market that needs scratching . This is the key success factor and it will determine the probability of achieving success. If you can identify a need and solve it, well, then you are in business.
  2. Create (or clone) a simple yet effective solution for this itch .
  3. Market your solution. The better your solution scratches an itch , the easier marketing should become.

This business will require some effort up-front, but after selling your first solution you ll start earning recurring income – without much additional effort.

Plus, you can stay in a small town with all the benefits of a close-knit community without being restricted to their spending potential.


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UK entrepreneurs top 100: From Richard Branson to Edwina Dunn, these are the most

#top entrepreneurs

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UK entrepreneurs top 100: From Richard Branson to Edwina Dunn, these are the most influential business founders in the UK on social media

Richard Branson, Victoria Beckham and Brent Hoberman all made the cut (Source: Getty, Official LeWeb Photos on Flickr)

Emma Haslett, Harriet Green

Whether you re an aspiring entrepreneur or have spent years building a business, you could do worse than to hear the stories of those who ve been through it all before.

So we ve put together a list of the UK s best and brightest at building businesses to get you inspired – from those who are near the beginning of the process, to some of the UK s most experienced entrepreneurs.

Our entrepreneurs list is based on active users of Twitter and their Klout scores, which takes into account various metrics from Twitter, Facebook. Google Plus, LinkedIn. Instagram, Foursquare and Wikipedia.

This list is no longer being updated. It was last updated on Friday 15th July 2016.


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About Sumy Designs – Who We Are and What We Do – Sumy Designs

#business website design

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Who We are and What We Do

We are Sumy Designs, LLC. Our business is based in West Lafayette, Indiana.

Our History: Sumy Designs was created by two sisters, Susan Sullivan and Amy Masson in 2006. Susan had been working as an advertising and marketing director with a large publishing firm while Amy had been teaching computer technology. After leaving those respective career paths, a friend asked if we’d like to make a website for her. We said yes. A friend of this friend saw that website and asked us to make a website for her. We said yes. And so and so forth and now we have created many, many sites for many happy clients across the US, Canada, and England.

Susan is our designer, in charge of all things creative and beautiful. She has the vision and skills it takes to create custom masterpieces for every project.

Amy is our resident technical expert, with the skills to make every website function as it should.

Interesting fact: While the business is based in West Lafayette, Susan lives in the Dallas Forth Worth area. We work together virtually, via email and video chat, to seamlessly design, manage, and maintain projects of all sizes.

Where’d you come up with the name Sumy? It’s a combination of our first names. SU san and aMY.

Our Support Team

While Amy does the behind the scenes work and Susan does the design, there are a lot of other areas that need attention, so we have recruited a team of fabulous people to work with us to bring these jobs to completion. Being a virtual business, we are able to employ people from all over the country to work with us.


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