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Are You Ready to Start a Small Business?

November 17, 2012 by Melanie Bayon

Start a Small Business-

So, you have a great idea to start a small business, but you’re not sure if you’ve taken all the steps you need to in order to make your business a success?

Many people get to the “great idea” stage, but can’t get beyond that because they don’t know where to go, but if you feel you have a good product or service to sell, you can make it profitable if you do some leg work first.

Research… Before You Start a Business

The first thing you need to do is check that your idea can actually work. Carefully analyze how much it will cost to produce your product and then double it. (Everything costs twice what you expect).

Look up similar products to see if you have something that people will want to purchase and what price they are willing to pay. Don’t count on producing the lowest cost product. Competing on price is a losing game. Create a unique product or a higher quality product or a product that fills a unique niche. Supplying a “want” is easier to sell than a “need”. One way to discover a want that needs to be filled is to keep your ears open. Whenever you hear someone say the words “I wish” you know a want is about to follow. If enough people have that same wish, that idea may be the basis for a new market sensation.

Find out how much time it will take to make your product and if there are any extra costs, like shipping, that might eat into your profits. If you can give numbers and facts for all of these areas and show your product to be profitable, you’re at a good spot to give your business a shot.

One big difficulty for new businesses is the cost to get started, so make sure you have the cash on-hand to cover the early costs or get a loan to help you get through the rough spots. There are plenty of lenders out there that specialize in small business loans, so you shouldn’t have a problem finding a loan if you have a detailed plan.

If you need help creating a business plan the U.S. Government operates the “Small Business Administration” which provides training, counseling, information on loans and grants and information on working with the government. Often the best strategy for getting started is to start small and see how it goes and work out the bugs before getting yourself into a lot of debt. Many businesses don’t generate a profit for the first year or two so during that period you want to keep debt to an absolute minimum.

Do You Have Customers?

The greatest idea in the world is worthless if you can’t get it to your customers. Use as many ways as you can think of to get your idea to your target customers as quickly as possible to help your Small Business get off the ground. Self-advertise locally, get your product in any shops or businesses you can, and make yourself a presence on the web. Open Twitter and Facebook accounts dedicated to your product and even get a website going with information so people outside your immediate area can start buying. Getting your name and product idea passed around is the quickest way to get consumers to start purchasing from you, so you need to get yourself out to as many people as possible as quickly as you can.

Some Guru’s suggest gauging demand for your product by running Google Adwords ads before you’ve even created a product and see what people click on and even test sales pitches. Once you find out what they want you can tailor your product to thier needs and know what kind of prices to charge and better gauge your profitability. Of course you can’t actually accept any money until you are ready to ship the product but this way you know what people want and how to sell it to them before investing heavily in a product that you can’t sell. Murphy’s Law definately applies to a new business, everything takes longer and costs more than you expect. So, you need larger margins than you ever thought possible in order to run a profitable business.

One interesting new way to raise funding (and guage interest and even find customers) for your new idea is through “crowd sourcing”. Organizations like Kickstarter.com allow you to presell your idea to potential investors not necesarily for a share of the profits but often for the priviledge of receiving one of the first items produced or simply a line in the credits page of your new movie or App. Recent items funded include a new ultra thin wallet where investors get one of the first items off the assemply line. In this case, the entrepeneurs wanted to raise $10,000 and ended up raising $203,488 because people kept ordering their wallets through Kickstarter. Other successful projects that received funding included a space age jacket that can change how much it insulates based on how much Argon gas you pump into it and several new Photography projects, video projects and computer apps. On kickstarter you won’t receive any money until your project is “fully funded” based on your initial cost estimates and what you list as needed to get started. But it is an excellect way to get start-up funding, gauge interest and recruit customers all at once. And you don’t give up a share of the business or burden your start-up with debt.

Have You Talked to a Lawyer?

Before starting a big venture like your own business, it’s always good to check with a lawyer first. A couple of hundred dollars could help you avoid any law or copyright infringement, which could save you thousands of dollars or more down the road. Knowing that your business is secure and legal will keep your business from getting bogged down in legalities as it begins to grow, which can be invaluable you’re your company becomes successful. But remember, Lawyers are by nature overly cautious. Many a good business would never have started if they had asked a Lawyer first. So keep it legal but don’t let the Lawyers discourage you if your market tests show you have a profitable idea.

Starting a Small Business takes Time and Determination

If you aren’t willing to put in the time and effort to making your business work, there’s no way it can be successful. However, even a good, well tested, idea can take a lot of effort to get it off the ground. You have to truly believe in your idea and be willing to make sacrifices to get it off the ground. If you’re willing to work hard and push your business into becoming successful, you can make it happen.

If you take the time to make sure your business is viable, find your target customers, and then put in the work and effort necessary to make your business successful, you’ll be able to turn your “great idea” into a profitable business that will get as big as you are willing to push it. You can do it if you’re passionate and prepared.

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Container Tracking System – Great Help for Anyone in the Shipping Business

November 5, 2012 by Urbanosaurus

Container Tracking- High Tech

Not every product can be found for purchase in a nearby store. This is logical, since not all products are manufactured everywhere. That is why certain products are shipped, via various sorts of transport vessels, from the location where they are manufactured, to the address of the buyer. The shipping industry is responsible for a a growing number of jobs as more products are shipped long distances. In 2010 China alone exported the equivalent of 31.3 million 20 foot containers (TEUS) while the U.S. exported 11.2 million TEUS. The U.S. was the largest importer at 17.6 million TEUS and China was second at 12.0 Million TEUS. According to the U.S. Bureau of Labor Statistics in 2010 82,600 people in the U.S. worked in occupations related to shipping via water alone with an expected increase of 20% over the next 10 years. Median pay was $46,610/yr. in 2010. Another 82,200 people work as Cargo and Freight Agents coordinating incoming and outgoing shipments for transportation companies. The BLS estimates a 29% increase in these jobs over the next ten years. In 2010 Cargo and Freight agents earned a median salary of $37,150/yr.

We would think the container shipping jobs are all relatively low tech jobs but that is not necessarily so. Some jobs involve operating heavy equipment like cranes but a high tech aspect to shipping you may not be aware of is Container Tracking.

Since products are shipped very long distances, it is beneficial, both for the company that is sending the product and for the party that is awaiting its arrival, to be able to track and monitor the shipment. In these situations Container Tracking Services are used.

What is a Container Tracking System

The Container Tracking System is an on-line program that is used to track and monitor the container that is shipping a particular product or products. Apart from being able to constantly see the location of the container on a world map (usually provided by Google Maps), one can also monitor various other data that is connected to the shipment. This data includes the temperature within the container, the humidity, various images of the inside of the container that are constantly sent and updated (this is a sort of video surveillance), and so on. This can help prevent spoilage and theft or misdirection along the way.

Why Do Employment Levels Lag Behind Economic Indicators?

November 3, 2012 by Will Kerr

Stagnant Employment Levels-

One of the most common complaints when an economy begins to turn the corner and pull out of recession goes something like this: ‘If things are getting better, why does it still hurt?’

People read the news about a recovery, and wonder why they still can’t find work. As with many things in life, a jobs recovery takes time. Economists refer to the unemployment rate as a lagging indicator, which means it follows broader moves in economic activity with a time delay, typically of a few months. Although it’s little consolation for the desperate job seeker, there are good reasons why this is so. Understanding this doesn’t ease the pain of joblessness, but it can make forward planning a little easier when you understand that the jobs recovery is around the next corner.

Batten Down The Hatches

When economists talk about recession they use a rather dry technical definition that doesn’t always match the experience of individuals in the labour force. To an economist, a recession comprises two consecutive quarters of negative GDP growth. That is to say the Gross Domestic Product, the total sum of all economic activity of the economy in question, falls for 6 months (two quarters).

The good news about unemployment being a lagging indicator is that employers usually try to weather the storm when recession hits. Even after the requisite two quarters of decline have passed, businesses generally continue to hope the downturn won’t last too much longer and won’t be too deep. Sales may drop, some customers walk away, but the business will try to hold on to staff.

After all, the staff are a major investment and asset. They cost a lot to recruit and train, and their experience and abilities are what keep the revenues rolling, so employers will usually wish to keep them in place for when conditions pick up again. Of course, there’s also an undeniable human factor. Whilst it’s easy to look at the numbers and decide a change of approach is needed, it’s much harder, especially for small workforces, to let members of the team go. Call it optimism, compassion, or a lack of responsiveness, layoffs are usually a last resort.

Creative Destruction Takes Time

However, if the recession is particularly deep or prolonged, lay-offs become increasingly necessary to reduce operating costs and ensure the business stays afloat. Hence, as the lay-offs follow [Read more…] about Why Do Employment Levels Lag Behind Economic Indicators?

What are the Opportunities for Nurses in Health Informatics

November 2, 2012 by Justin Epley

With today’s advances in technology, health informatics has become one of the fastest-growing fields for healthcare professionals. Health informatics specialists are in demand not only in hospitals, but also in private practice and emergency care clinics throughout the country.

Health informatics involves the processing of information through computers and other electronic devices. This information includes medical records as well as patient care delivery and instruction. Many of the leading software and hardware companies are actively hiring nurses to train healthcare professionals to use highly specialized technical equipment. These nurse informaticians, as they’re called by the American Nurses Association (ANA), are in demand throughout the health industry.

Training You’ll Need for Health Informatics

To apply for an advanced position as a nurse informatician, you’ll need to get a certification. Nurse informaticians are required to have the basic clinical and technical knowledge required of any nurse and are also required to have strong communication and verbal skills, as well as good analytical skills. [Read more…] about What are the Opportunities for Nurses in Health Informatics

Highly Skilled Worker Shortage in a Recession?

October 30, 2012 by Jorgen Rex Olson

Could Vocational Training Solve Unemployment?

The shortage of highly skilled workers became a global concern several years ago and continues to grow despite the emergence of an economic recession. A report compiled by Deloitte for the Manufacturing Industry shows 600,000 jobs in the U.S. need employees who are skilled in various jobs. The number is expected to increase over the next five years, the report states, as many current workers reach retirement age. Many of these careers offer generous pay and immediate employment upon completing vocational school. Shortages are also predicted in health care and other fields.

Why the Lack of Skilled Workers?

One reason for the lack of skilled workers centers on society and parents placing too much value on a four-year college degree, which came with the promise of landing a lucrative job. Many college graduates find scarce employment opportunities in their field of study and end up in debt from the costs of earning their degree.

This push towards college and away from vocational training contributed to the current shortage of trained, skilled workers in many areas, including healthcare, manufacturing, technology, and other vocational careers. During this same period, many [Read more…] about Highly Skilled Worker Shortage in a Recession?

State Employment and Unemployment Rates- September 2012

October 29, 2012 by Tim McMahon

Unemployment Rates by State-

The U.S. Bureau of Labor Statistics (BLS) has released the individual state unemployment rates and once again NORTH DAKOTA has the lowest unemployment rates… literally begging for employees. They have “man camps” where men from all over the country are showing up and parking RV’s and cashing in on the high paying jobs available in the pipeline industry. And because the pay is so good it is driving up the wages everywhere else as Denny’s and McDonalds have to pay $15/hr in order to attract employees. Stories abound of labor being so scarce that Walmart quit stocking shelves and just places the pallets straight on the floor in the aisles and people grab the stock straight from the pallet.

On the other end of the spectrum we have Nevada where the gambling industry is hurting and they have 11.8% unemployment. This is followed by Rhode Island, California and New Jersey at 10.5%, 10.2% and 9.8% respectively.

Source: BLS Data is based on Unemployment rates for selected states, seasonally adjusted, September 2012

The full Unemployment Data for all 50 States plus D.C. is:

Unemployment, Part-time Workers and Obamacare

October 26, 2012 by Tim McMahon

When the most recent unemployment data was released just a couple of days after the second Presidential debate, there was some speculation that the numbers were “rigged” or “fudged”. We’ve been saying for a long time that even though they should be two sides of the same coin, the “Employment” numbers don’t track with the “Unemployment” numbers.

See: Employment vs. UnEmployment.

Basically, what the comparison chart shows is that unemployment is falling faster than employment is rising. Historically, in a recovery employment rises faster than unemployment falls.

But this time somehow “magically” unemployment is falling faster than employment is rising. How can that be?

Discouraged Workers are not the Answer

Some possible explanations up until this point were that people had given up looking for work (became “discouraged workers”) and so they were no longer counted as unemployed under the standard U-3 definition. This would of course make the U-3 number look better but wouldn’t indicate an improving economy. However logical this possibility sounds, the data does not hold up. If we look at the Bureau of Labor Statistics numbers for Unemployed persons by duration of unemployment we can see that the number of people unemployed for more than 27 weeks in September 2011 was 6,217,000 but in September 2012 that number had fallen to 4,835,000 so the long term unemployed had fallen considerably.

In the table below we see the number of “discouraged workers” in thousands according to the Bureau of Labor Statistics. Once again we see [Read more…] about Unemployment, Part-time Workers and Obamacare

5 Excellent Tips to Ace your Next Phone Interview

October 25, 2012 by Justin Epley

Companies are increasingly finding it difficult to hire the best employees. One way firms are dealing with this problem is by holding initial phone interviews before scheduling a face-to-face interview. As a job seeker, you need to prepare yourself well if you wish to pass this initial huddle. Below is an overview of a few major tips you need to concentrate on to ace your phone interview.

Phone Interview Tip #1: Be cooperative

You should endeavor to answer all the questions fielded at you without evading any of them. You should be cooperative with the interviewer even when you feel the questions are being repeated. One of the mistakes many people make is that of referring the interviewer to their resumes. Something like “check my resume to understand what I am saying” will not go down well with most interviewers. Remember, it is not only your answers the interviewer will be interested in. Your manner of answering the questions will be used to determine your intelligence, level of cooperation, communication ability and many other things.

Phone Interview Tip #2: Do not ramble

It is tempting to talk too much but doing that will actually hurt your chances of acing the interview. In fact, it is better if you wait for two or more seconds after the interviewer has stopped talking before answering. This will eliminate your chances of interrupting the questioning process, something that can actually be viewed as rude. Rambling may also lead to numerous ‘ums’ and ‘ahhs’ in your conversation, and you cannot pass an interview that way. [Read more…] about 5 Excellent Tips to Ace your Next Phone Interview

Will Big Bird Lose His Job?

October 7, 2012 by Tim McMahon

In the presidential debates in Colorado on Wednesday Mitt Romney said, that although he likes Big Bird (and debate moderator Jim Lehrer), if elected he plans on cutting the $400 million subsidy that goes to PBS. PBS of course is the corporate home of Sesame Street and loveable “Big Bird“. Since that statement the Democrats and the blogosphere has errupted with crys against the big mean man who wants to kill big bird.

Big Bird Won’t Lose Job

But according to Sherrie Westin, executive vice president for Sesame Workshop, Sesame Street actually receives very little funding from PBS anyway.

About 12% of PBS’ revenue comes from the Corporation for Public Broadcasting. For 2015 Congress has budgeted $445 million for the Corporation for Public Broadcasting. The remainder of the funding, as they are so fond of saying, “Comes from Viewers like you…”

PBS CEO Paula Kerger said PBS too will be just fine, as it too isn’t funded directly by the government. “In fact, the money that comes from the government into the Corporation for Public Broadcasting goes to our member stations.”

One blogger put it this way… “I think the fact that taking government funding away from PBS will not hurt it is kind of Romney’s point. Isn’t that basically the definition of unnecessary spending? “

Big Bird is a “Cash Cow”

The show is very profitable in its own right. Big Bird probably has more licensing deals than Michael Jordan… he’s a virtual “cash cow”. So don’t worry Big Bird will still have a job if Romney is elected.

On the day after the debate Big Bird posted on his Twitter page, “Big Bird: My bed time is usually 7:45, but I was really tired yesterday and fell asleep at 7! Did I miss anything last night?”

Did you even know that Big Bird had a Twitter page?

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5 Ways to Earn a Living Online

October 3, 2012 by Emma Morgan

Earning Online-

In today’s economy, more people than ever are looking for ways to earn a living from the comfort of their own home. As people find it increasingly difficult to find work outside of the home, earning a living online becomes more attractive. If you’ve found yourself unemployed and struggling to find work, or if you just want a way to put a little more money in your bank account each month, finding a source of income online can be just what you’re looking for. Here are five of the best ways to earn a living online:

1.Customer Service

Companies across the country hire virtual call center representatives to perform customer service tasks. While some of these companies restrict their independent contractors to a set schedule, many allow you to set your own hours. Even better, many allow you to schedule yourself in short blocks of time, allowing you to easily work around your other commitments.

2.Write Articles

If you like to write, becoming a freelance writer may be the best work-at-home gig that you can find. Whether you choose to write for a content mill site or venture out on your own, writing articles for websites can be very lucrative. If you write for content mill sites, you can reasonably expect to earn anywhere from $4.00 to $11.00 per article. If you go it on your own, you can [Read more…] about 5 Ways to Earn a Living Online