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What Everyone Ought to Know About Marketing to a New Niche

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Marketing to a New Niche: Can You Find Another Niche for Your Products or Services?

The riches are in the niches, or so they say. If you’re thinking of pivoting your business and exploring an entirely new niche, it may make you feel a little uneasy.

Entrepreneurship itself can be very shaky at times and isn’t guaranteed. When you find a comfortable spot, it’s understandable to want to cling to that security.

Marketing to a New Niche

However, it can start to feel very routine and eventually hold you back from reaching your larger business goals. If you’re looking to successfully break into a fresh new market, here are some key steps to take.

Continue to Reach Out to Your Existing Contacts

Just because you’re going into a new niche doesn’t mean you have to leave your existing contacts and old clients in the dust. They may or may not continue to desire to work with you but that still doesn’t erase who they know and what their reach is.

The best type of marketing is still referral marketing. If you can get connected with someone to serve in your new desired niche, half of the work will already be done and you’ll just need to close the sale.

I’ve had tons of contacts reach out to me after they’ve pivoted their business and changed niches to see if I had any contacts, referrals, or leads they could connect with. It’s worth a try as you never know who knows who.

Find Out Where Your New Target Market Hangs Out

Do some research just like you did in the beginning stages of your business to find out where your new target market hangs out whether it be online or offline.

My favorite place to start looking for people to serve in my niche is in Facebook groups. Facebook is still the most popular social media platform so odds are you’ll find your target market on there one way or another.

One of the best ways to reach your niche is by presenting them with targeted Facebook ads. Facebook has already done all the hard work of learning about your target market and what their interests and habits are. All you need to do is create an ad directed toward that niche.

Create Your New Offer

Before you even think about ads, you want to create some type of offer. If you’re changing niches, all your old offers aren’t really going to apply to your new audience.

Get on the phone with a new people in your target market to learn more about what their needs are and how they think. Then, come up with an offer to solve their biggest pain point right now.

It’d probably be best to start by creating a smaller free offer to help drive people to join your email list. Once you know the people who signed up are in your target niche, you can start marketing to them using emails.

Summary

Changing directions in business can be scary. What’s even worse is not feeling confident in your ability to start all over and market to a new niche. When you think about it, it’s not much different from the marketing tactics you may have used initially.

If it’s not broke, don’t fix it!

Image via Due.com

This article, “What Everyone Ought to Know About Marketing to a New Niche” was first published on Small Business Trends

What is JOBS Act 3.0 and How Could It Help Your Small Business?

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What is JOBS Act 3.0 and How Can It Help Your Small Business?

A new bill will allow small businesses to raise capital like larger businesses. Proponents say it will help small buinesses start a new venture and grow their company in a robust economy. A bipartisan vote in the U.S. House created the JOBS and Investor Confidence Act, also known as JOBS Act 3.0 reform.

Passing with a vote of 406 to 4, the bill is also being touted by President Trump for its inclusion of additional regulatory reforms.

For small businesses, the increased access to capital and elimination of some regulations are both positives.

According to the White House Council of Economic Advisers, more than 500 new economically significant regulations have been imposed since 2010.

In a release commenting on the new legislation, Small Business & Entrepreneurship Council president and CEO Karen Kerrigan, said, “Capital is the fuel that drives entrepreneurship and sustainable economic growth. Small businesses and startups need a continuous flow of capital to launch, compete and grow, and JOBS Act 3.0 addresses an array of regulatory barriers and costs – from launching a firm to exit — that impede opportunity and growth.”

The bill is moving back to the Senate for approval and then on to Trump for his signature.

So What is JOBS Act 3.0?

The House Amendment to S. 488, also known as JOBS Act 3.0, is part of a provision with 32 individual bills. Together, they seek to encourage entrepreneurs and entrepreneurship by supporting businesses more vigorously.

Changes in the legislation ease banking regulations under Dodd-Frank to helping startups, stimulate venture capital and make initial public offerings more affordable and manageable.

You can take a look at the entire bill here.

Regarding the issue of access to capital, U.S. Chamber Center for Capital Markets Competitiveness Executive Vice President Tom Quaadman, said:

“Lawmakers acted to pursue pro-growth policies that help new businesses get started and grow into bigger businesses as well as to create new opportunities for American entrepreneurs. This bipartisan legislation will help small and mid-size businesses raise the capital they need to expand, innovate, and hire new employees. It is a win for entrepreneurs, businesses, and job creators across the country.”

Why is This Bill so Important?

According to the US Chamber of Commerce, around three-fourths of financing for businesses in the United States comes from capital markets. But the amount of regulation makes it hard to keep up with demand.

House Financial Services Chairman Jeb Hensarling (R-Texas), writes in the Wall Street Journal, “U.S. startups approached a 40-year low in 2016, and the number of domestic IPOs, though making a comeback, is half what it was 20 years ago.” According to Hensarling, China produced more than one-third of the world’s IPOs last year compared with the U.S.’s 11%.

Supporters say removing the barriers to raising capital while eliminating regulations will help startups and small businesses grow.

Photo via Shutterstock

This article, “What is JOBS Act 3.0 and How Could It Help Your Small Business?” was first published on Small Business Trends

Say What? Small Businesses Racked Up More Than $1 Billion in Sales During Amazon Prime Day

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Prime Day 2018 Results: $1 Billion in Sales for Small Business on Day 1

Saying Prime Day 2018 started with a bang is an understatement. Small and medium-sized businesses were able to generate more than $1 billion in sales on the first day.

Prime Day 2018 Results

Small businesses who took part in the 36-hour event experienced great numbers. In some cases, small business sales were 10 to 100 times higher than their average day. In an Amazon press release, a few small businesses shared their thoughts as the day was just beginning.

“Prime Day is just getting started for us, but we’re already seeing 10 times our average day sales,” said Kelly Fedio of One Savvy Life,

“We’re having our biggest day ever! So far this Prime Day, we’ve sold 102 times more units than an average day.” said Victor Chang of Furbo.

Jurgen Nebelung of Tea Forté said during the event, customers were purchasing one of the company’s products once every two seconds.

Prime Day Started With a Glitch

Even though Prime Day did great for Amazon (NASDAQ: AMZN), the event started with a technical glitch, which led the company to post this tweet.

An Amazon Web Services spokesperson told CRN on Tuesday, the problem was not related to the company’s cloud service.

Problems started four minutes after Prime Day started at about 3:04 PM Eastern. And according to CRN, it continued throughout the day, cutting 6 hours from the extended 36-hour event. This brought the event back to 2017’s 30 hours, but there were nevertheless some record-breaking numbers.

As to the reason for the technical problems, Amazon has yet to provide an explanation.

The Continued Growth of Prime Day

The inaugural event of Prime Day in 2015 generated $900 million in sales followed by $1.52 billion in 2016 and $2.14 billion in 2017.

The growth parallels the increasing number of Prime members. from 18 million in 2013 to an impressive 107 million around the world today.

When you take into account Prime members spend almost five times more than non-Prime customers, you can start appreciating the impact.

With 2018’s Prime Day slated to generate $3.4 billion in global sales, the event could see a 40% increase over last year,  Coresight Research reports.

Should Your Small Business Take Part in Prime Day?

The answer is almost certainly yes.

More than anything, Prime Day gives your small business exposure — before a global audience. This exposure will serve your company well throughout the year. And by spending $750 for a Prime Day Lightning Deal, you can increase your visibility even more.

Photo via Shutterstock

This article, “Say What? Small Businesses Racked Up More Than $1 Billion in Sales During Amazon Prime Day” was first published on Small Business Trends

HubSpot Launches Small Business Marketing Tool for Beginners

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HubSpot Marketing Hub Starter is a Small Business Marketing Tool for Beginners

Small business marketing is not as simple as used to be, and the constantly shifting technological landscape may be partly to blame.

HubSpot’s new Marketing Hub Starter has been created to simplify the process for small business owners.

According to HubSpot (NYSE: HUBS), the Marketing Hub Starter platform was specifically designed with small businesses in mind. With this new solution, businesses will have access to all of their marketing tools in one platform. At the same time, HubSpot is going to be offering comprehensive marketing solutions that are more affordable.

Kipp Bodnar, CMO of HubSpot, explained the challenges small businesses face when it comes to deploying their marketing strategy.

In a recent release, Bodnar said, “Historically, small businesses looking for an economical way to get started with marketing have had to cobble together disparate point solutions to perform tasks like sending emails and targeting ads. Unfortunately, what they save in dollars they often lose in time spent trying to connect and manage all of those systems.”

HubSpot Marketing Hub Starter Features

Powered by HubSpot’s free CRM, Marketing Hub Starter removes the need to manage disconnected tools and data on different platforms. This means you will have more time to actually market your business.

You can now convert traffic into leads with ads and forms while engaging with your audience with personalized email marketing.

The email marketing includes drag-and-drop email editor and post-send analytics. And according to HubSpot, the reporting goes beyond email opens and clicks. It tracks returning contacts, top personas, engagement over time, ad performance, and more.

The integrated tools include forms, lead ads, email marketing, list segmentation, HubSpot CRM, and reports.

Marketing Hub Starter comes with all these tools and it is now available starting at $50 per month for 1,000 contacts. There are additional tiers for companies with more contacts.

What is HubSpot?

HubSpot offers inbound marketing and sales software to help organizations attract visitors, convert leads, and close customers. HubSpot provides a comprehensive marketing solution for today’s digital and ecommerce businesses.

In addition to tools for email, websites, SEO, marketing automation, landing pages, analytics, social media and blogging, it also provides free education in its academy.

You can take the new academy lesson for Marketing Hub Starter here.

Photo via Shutterstock

This article, “HubSpot Launches Small Business Marketing Tool for Beginners” was first published on Small Business Trends

Creating Great Business Newsletters Doesn’t Have to be Hard, See This (INFOGRAPHIC)

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How to Create an Email Newsletter for Your Retail Business (INFOGRAPHIC)

A new infographic from email marketing platform moosend.com looks to help you create the ultimate newsletter with a checklist of things you should include. Appropriately titled “The Ultimate Retail Email Newsletter Checklist,” the infographic has some suggestions for how you can make your newsletter stand out.

An email newsletter lets your business connect with your customers, establish yourself as an expert in your field and build a long-term relationship with your audience. But creating the right newsletter takes some doing.

Does Email Marketing Still Work?

Yes, it does, and it has some great ROI. But in order to make it successful, you have to personalize and optimize your email campaigns.

According to eMarketer, the share of total revenue attributed to email marketing rose from 17% in 2016 to 21% in 2017.

How to Create an Email Newsletter

In an official post on the moosend blog, content writer Ine Alexakis says you need to make the emails you create count and not make mistakes. With that in mind, here is the checklist to help you make that happen.

Create the Best Content

It all starts with getting your content in tip-top shape. This means a well-edited email that is coherent and cohesive without typos.

Alexakis says, “Spelling and punctuation play an important role in every published document and online newsletter campaigns are no exception.” If there are mistakes in your newsletter, it won’t be farfetched for readers to connect them with how you run your business.

Other suggestions in this section of the infographic include adding personalization, A/B testing, sending from a “reply to” account and occasionally sending the email from different addresses depending on the event.

Target the Right Audience

Send your newsletter to the right lists and segments. As Alexakis says you can’t be all things to all people, so choose the segments carefully.

While on the subject of reaching out, make sure you always update your lists and check to see your contacts are opted-in.

Tweak for Best Results

In this stage of creating your newsletter, you need to do some more tweaking and make sure your images and overall layout are uniform.

Add standardized buttons, customize the title, check your links and have your alt-tags in place.

You also have to optimize your content to make it usable on different platforms, including being smartphone and tablet friendly.

Have a look at the infographic below for the rest of the checklist.

 

How to Create an Email Newsletter for Your Retail Business (INFOGRAPHIC)

Image: moosend

This article, “Creating Great Business Newsletters Doesn’t Have to be Hard, See This (INFOGRAPHIC)” was first published on Small Business Trends

Experts at this Online Event Reveal Secrets to Help Grow Your Business

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5 Features High-Growth SMBs Have in Common
The number of speakers who will be giving you insights into how to make your business succeed at Growth & Success Con 2018 is…er, growing, no pun intended.

From September 17 -18, 2018, you can attend the online event and learn from their experience.

These strategists, marketing experts, business and life coaches will be holding talks on a range of subjects.

These include how to make your marketing effort more efficient, faster and cheaper; how to figure out the success code; how to negotiate successfully; how to be great on camera for your video content and more.

Click the red box and register for free to attend the conference.

Register Now



Featured Events, Contests and Awards

WEBINAR: How to Compete Against Big Box Retailers and Online StoresWEBINAR: How to Compete Against Big Box Retailers and Online Stores
July 25, 2018, Online

Join small business expert Barry Moltz on July 25th at 1p.m. EST for a 30-minute conversation. Grasp the very real threat big businesses and e-commerce sites pose for small business, and how you can compete. In this webinar, Barry will answer questions like what can you do when you can’t compete on price and choice? How can you use customer requirements to create winning experiences? What’s the best way to maintain a personal relationship with customers to boost sales? And much more. Register today!


WEBINAR August 15, 2PM ET (11AM PT): How Mobile Ate the Web - and 7 Ways Small Businesses Can Capitalize WEBINAR August 15, 2PM ET (11AM PT): How Mobile Ate the Web – and 7 Ways Small Businesses Can Capitalize
August 15, 2018, Online

Browsing via mobile devices has overtaken and now exceeds desktop computer browsing. Sadly, most marketers and business owners still look at their company web presence using desktop devices – but that’s not what most of their visitors are seeing! Visitors are seeing it through mobile devices. In this webinar we’ll explore how users find and get to businesses using mobile devices. We’ll look at the latest trends, and whether your business needs them or should ignore them, including:
AMP (accelerated mobile pages), progressive Web apps vs true mobile apps, mobile templates vs responsive websites, the search engine “knowledge panel” for your business, the mobile-first Google index, leveraging third party reviews and their impact on mobile visitors, and much more. Join us on August 15, 2PM ET (11AM PT) by registering today!


Growth & Success ConGrowth & Success Con
September 17, 2018, Online

This small business virtual conference is dedicated to supporting entrepreneurs at all stages who are stuck in the daily grind of building their businesses and struggle to get solid advice and guidance. An amazing panel of experts in various disciplines and business coaches will share tips & tricks on topics including Growth, Marketing, Management & Business Building for Success. Register today!


More Events

More Contests

This weekly listing of small business events, contests and awards is provided as a community service by Small Business Trends.

You can see a full list of events, contest and award listings or post your own events by visiting the Small Business Events Calendar.

Image: Shutterstock

This article, “Experts at this Online Event Reveal Secrets to Help Grow Your Business” was first published on Small Business Trends

Tesco Boss Hails End of ‘Space Race’ as Profits Crash

0

A business (also known as an enterprise, a company or a firm) is an organizational entity involved in the provision of goods and services to consumers.Businesses serve as a form of economic activity, and are prevalent in capitalist economies, where most of them are privately owned and provide goods and services allocated through a market to consumers and customers in exchange for other goods, services, money, or other forms of exchange that hold intrinsic economic value.

Businesses may also be social non-profit enterprises or state-owned public enterprises operated by governments with specific social and economic objectives. A business owned by multiple private individuals may form as an incorporated company or jointly organise as a partnership. Countries have different laws that may ascribe different rights to the various business entities.

“There are no secrets to success. It is the result of preparation, hard work, and learning from failure.”

In recent decades, states modeled some of their assets and enterprises after business enterprises. In 2003, for example, the People’s Republic of China modeled 80% of its state-owned enterprises on a company-type management system. Many state institutions and enterprises in China and Russia have transformed into joint-stock companies, with part of their shares being listed on public stock markets.

Wall Street, New York, NY, United States of America

Business process management (BPM) is a holistic management approach focused on aligning all aspects of an organization with the wants and needs of clients. It promotes business effectiveness and efficiency while striving for innovation, flexibility, and integration with technology. BPM attempts to improve processes continuously. It can therefore be described as a “process optimization process.” It is argued that BPM enables organizations to be more efficient, effective and capable of change than a functionally focused, traditional hierarchical management approach.

Great things in business are never done by one person. They’re done by a team of people.

Many businesses are operated through a separate entity such as a corporation or a partnership (either formed with or without limited liability). Most legal jurisdictions allow people to organize such an entity by filing certain charter documents with the relevant Secretary of State or equivalent, and complying with certain other ongoing obligations. The relationships and legal rights of shareholders, limited partners, or members are governed partly by the charter documents and partly by the law of the jurisdiction where the entity is organized.

Business Discussions

Generally speaking, shareholders in a corporation, limited partners in a limited partnership, and members in a limited liability company are shielded from personal liability for the debts and obligations of the entity, which is legally treated as a separate “person”. This means that unless there is misconduct, the owner’s own possessions are strongly protected in law if the business does not succeed.

Where two or more individuals own a business together but have failed to organize a more specialized form of vehicle, they will be treated as a general partnership. The terms of a partnership are partly governed by a partnership agreement if one is created, and partly by the law of the jurisdiction where the partnership is located.

I love those who can smile in trouble, who can gather strength from distress, and grow brave by reflection. ‘Tis the business of little minds to shrink, but they whose heart is firm, and whose conscience approves their conduct, will pursue their principles unto death.

No paperwork or filing is necessary to create a partnership, and without an agreement, the relationships and legal rights of the partners will be entirely governed by the law of the jurisdiction where the partnership is located.

A single person who owns and runs a business is commonly known as a sole proprietor, whether that person owns it directly or through a formally organized entity. Depending on the business needs, an adviser can decide what kind is proprietorship will be most suitable.

Some businesses are subject to ongoing special regulation, for example, public utilities, investment securities, banking, insurance, broadcasting, aviation, and health care providers. Environmental regulations are also very complex and can affect many businesses.

Stock Graphs.

Some specialized businesses may also require licenses, either due to laws governing entry into certain trades, occupations or professions, that require special education, or to raise revenue for local governments. Professions that require special licenses include law, medicine, piloting aircraft, selling liquor, radio broadcasting, selling investment securities, selling used cars, and roofing. Local jurisdictions may also require special licenses and taxes just to operate a business.

The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.

London Street View.

Businesses often have important “intellectual property” that needs protection from competitors for the company to stay profitable. This could require patents, copyrights, trademarks, or preservation of trade secrets. Most businesses have names, logos, and similar branding techniques that could benefit from trademarking. Patents and copyrights in the United States are largely governed by federal law, while trade secrets and trademarking are mostly a matter of state law. Because of the nature of intellectual property, a business needs protection in every jurisdiction in which they are concerned about competitors.

Many countries are signatories to international treaties concerning intellectual property, and thus companies registered in these countries are subject to national laws bound by these treaties. In order to protect trade secrets, companies may require employees to sign non-compete clauses which will impose limitations on an employee’s interactions with stakeholders, and competitors.

Marks & Spencer Profits Jump for First Time in Four Years

0

A business (also known as an enterprise, a company or a firm) is an organizational entity involved in the provision of goods and services to consumers.Businesses serve as a form of economic activity, and are prevalent in capitalist economies, where most of them are privately owned and provide goods and services allocated through a market to consumers and customers in exchange for other goods, services, money, or other forms of exchange that hold intrinsic economic value.

Businesses may also be social non-profit enterprises or state-owned public enterprises operated by governments with specific social and economic objectives. A business owned by multiple private individuals may form as an incorporated company or jointly organise as a partnership. Countries have different laws that may ascribe different rights to the various business entities.

“There are no secrets to success. It is the result of preparation, hard work, and learning from failure.”

In recent decades, states modeled some of their assets and enterprises after business enterprises. In 2003, for example, the People’s Republic of China modeled 80% of its state-owned enterprises on a company-type management system. Many state institutions and enterprises in China and Russia have transformed into joint-stock companies, with part of their shares being listed on public stock markets.

Wall Street, New York, NY, United States of America

Business process management (BPM) is a holistic management approach focused on aligning all aspects of an organization with the wants and needs of clients. It promotes business effectiveness and efficiency while striving for innovation, flexibility, and integration with technology. BPM attempts to improve processes continuously. It can therefore be described as a “process optimization process.” It is argued that BPM enables organizations to be more efficient, effective and capable of change than a functionally focused, traditional hierarchical management approach.

Great things in business are never done by one person. They’re done by a team of people.

Many businesses are operated through a separate entity such as a corporation or a partnership (either formed with or without limited liability). Most legal jurisdictions allow people to organize such an entity by filing certain charter documents with the relevant Secretary of State or equivalent, and complying with certain other ongoing obligations. The relationships and legal rights of shareholders, limited partners, or members are governed partly by the charter documents and partly by the law of the jurisdiction where the entity is organized.

Business Discussions

Generally speaking, shareholders in a corporation, limited partners in a limited partnership, and members in a limited liability company are shielded from personal liability for the debts and obligations of the entity, which is legally treated as a separate “person”. This means that unless there is misconduct, the owner’s own possessions are strongly protected in law if the business does not succeed.

Where two or more individuals own a business together but have failed to organize a more specialized form of vehicle, they will be treated as a general partnership. The terms of a partnership are partly governed by a partnership agreement if one is created, and partly by the law of the jurisdiction where the partnership is located.

I love those who can smile in trouble, who can gather strength from distress, and grow brave by reflection. ‘Tis the business of little minds to shrink, but they whose heart is firm, and whose conscience approves their conduct, will pursue their principles unto death.

No paperwork or filing is necessary to create a partnership, and without an agreement, the relationships and legal rights of the partners will be entirely governed by the law of the jurisdiction where the partnership is located.

A single person who owns and runs a business is commonly known as a sole proprietor, whether that person owns it directly or through a formally organized entity. Depending on the business needs, an adviser can decide what kind is proprietorship will be most suitable.

Some businesses are subject to ongoing special regulation, for example, public utilities, investment securities, banking, insurance, broadcasting, aviation, and health care providers. Environmental regulations are also very complex and can affect many businesses.

Stock Graphs.

Some specialized businesses may also require licenses, either due to laws governing entry into certain trades, occupations or professions, that require special education, or to raise revenue for local governments. Professions that require special licenses include law, medicine, piloting aircraft, selling liquor, radio broadcasting, selling investment securities, selling used cars, and roofing. Local jurisdictions may also require special licenses and taxes just to operate a business.

The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.

London Street View.

Businesses often have important “intellectual property” that needs protection from competitors for the company to stay profitable. This could require patents, copyrights, trademarks, or preservation of trade secrets. Most businesses have names, logos, and similar branding techniques that could benefit from trademarking. Patents and copyrights in the United States are largely governed by federal law, while trade secrets and trademarking are mostly a matter of state law. Because of the nature of intellectual property, a business needs protection in every jurisdiction in which they are concerned about competitors.

Many countries are signatories to international treaties concerning intellectual property, and thus companies registered in these countries are subject to national laws bound by these treaties. In order to protect trade secrets, companies may require employees to sign non-compete clauses which will impose limitations on an employee’s interactions with stakeholders, and competitors.

Retail Sales Fall for a Third Month in a Row

0

A business (also known as an enterprise, a company or a firm) is an organizational entity involved in the provision of goods and services to consumers.Businesses serve as a form of economic activity, and are prevalent in capitalist economies, where most of them are privately owned and provide goods and services allocated through a market to consumers and customers in exchange for other goods, services, money, or other forms of exchange that hold intrinsic economic value.

Businesses may also be social non-profit enterprises or state-owned public enterprises operated by governments with specific social and economic objectives. A business owned by multiple private individuals may form as an incorporated company or jointly organise as a partnership. Countries have different laws that may ascribe different rights to the various business entities.

“There are no secrets to success. It is the result of preparation, hard work, and learning from failure.”

In recent decades, states modeled some of their assets and enterprises after business enterprises. In 2003, for example, the People’s Republic of China modeled 80% of its state-owned enterprises on a company-type management system. Many state institutions and enterprises in China and Russia have transformed into joint-stock companies, with part of their shares being listed on public stock markets.

Wall Street, New York, NY, United States of America

Business process management (BPM) is a holistic management approach focused on aligning all aspects of an organization with the wants and needs of clients. It promotes business effectiveness and efficiency while striving for innovation, flexibility, and integration with technology. BPM attempts to improve processes continuously. It can therefore be described as a “process optimization process.” It is argued that BPM enables organizations to be more efficient, effective and capable of change than a functionally focused, traditional hierarchical management approach.

Great things in business are never done by one person. They’re done by a team of people.

Many businesses are operated through a separate entity such as a corporation or a partnership (either formed with or without limited liability). Most legal jurisdictions allow people to organize such an entity by filing certain charter documents with the relevant Secretary of State or equivalent, and complying with certain other ongoing obligations. The relationships and legal rights of shareholders, limited partners, or members are governed partly by the charter documents and partly by the law of the jurisdiction where the entity is organized.

Business Discussions

Generally speaking, shareholders in a corporation, limited partners in a limited partnership, and members in a limited liability company are shielded from personal liability for the debts and obligations of the entity, which is legally treated as a separate “person”. This means that unless there is misconduct, the owner’s own possessions are strongly protected in law if the business does not succeed.

Where two or more individuals own a business together but have failed to organize a more specialized form of vehicle, they will be treated as a general partnership. The terms of a partnership are partly governed by a partnership agreement if one is created, and partly by the law of the jurisdiction where the partnership is located.

I love those who can smile in trouble, who can gather strength from distress, and grow brave by reflection. ‘Tis the business of little minds to shrink, but they whose heart is firm, and whose conscience approves their conduct, will pursue their principles unto death.

No paperwork or filing is necessary to create a partnership, and without an agreement, the relationships and legal rights of the partners will be entirely governed by the law of the jurisdiction where the partnership is located.

A single person who owns and runs a business is commonly known as a sole proprietor, whether that person owns it directly or through a formally organized entity. Depending on the business needs, an adviser can decide what kind is proprietorship will be most suitable.

Some businesses are subject to ongoing special regulation, for example, public utilities, investment securities, banking, insurance, broadcasting, aviation, and health care providers. Environmental regulations are also very complex and can affect many businesses.

Stock Graphs.

Some specialized businesses may also require licenses, either due to laws governing entry into certain trades, occupations or professions, that require special education, or to raise revenue for local governments. Professions that require special licenses include law, medicine, piloting aircraft, selling liquor, radio broadcasting, selling investment securities, selling used cars, and roofing. Local jurisdictions may also require special licenses and taxes just to operate a business.

The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.

London Street View.

Businesses often have important “intellectual property” that needs protection from competitors for the company to stay profitable. This could require patents, copyrights, trademarks, or preservation of trade secrets. Most businesses have names, logos, and similar branding techniques that could benefit from trademarking. Patents and copyrights in the United States are largely governed by federal law, while trade secrets and trademarking are mostly a matter of state law. Because of the nature of intellectual property, a business needs protection in every jurisdiction in which they are concerned about competitors.

Many countries are signatories to international treaties concerning intellectual property, and thus companies registered in these countries are subject to national laws bound by these treaties. In order to protect trade secrets, companies may require employees to sign non-compete clauses which will impose limitations on an employee’s interactions with stakeholders, and competitors.

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