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    Saturday, June 6, 2020

    Business Economists Have Biggest Miss Ever in U.S. Jobs-Report Shocker

    Business Economists Have Biggest Miss Ever in U.S. Jobs-Report Shocker


    Economists Have Biggest Miss Ever in U.S. Jobs-Report Shocker

    Posted: 05 Jun 2020 08:54 PM PDT

    Hong Kong tycoons rush to take assets private at rock-bottom prices

    Posted: 05 Jun 2020 06:22 PM PDT

    For many black business owners, importance of protests overshadows cost of rebuilding

    Posted: 05 Jun 2020 09:34 AM PDT

    I want to start a small business, but I'm failing to get it of the ground. Can someone help me out here?

    Posted: 06 Jun 2020 12:03 AM PDT

    I know this period of time is not the most ideal to start a private business, but I still want to ask:

    So here's my situation: I'm a 19 year old guy. I want to start a small computer repair and setup help business (from my own house). I have tried to do a lot of research but I don't quite understand how to advertise or get/keep it running.

    Administration, taxation etc. is not a problem. I have some money saved up for it, but not enough for a billboard or roadside signs if you understand what I mean. I know there's always a risk involved, but I want to INVEST that money, not do something wrong and throw it away. (How much money is enough? I have about €600-€700 to spend on it.)

    Do I need a website? How do I spread the word and make MY shop more attractive than others?

    I am willing to put A LOT of time in this! It's a great hobby and a fun way for me to start learning about owning a business.

    Anything said is appreciated.

    submitted by /u/Vinnye9
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    May sees biggest jobs increase ever of 2.5 million as the economy starts to recover from coronavirus

    Posted: 05 Jun 2020 06:06 AM PDT

    DraftKings Partners With Bay Mills Resort & Casino to Bring Sports Betting to Michigan

    Posted: 05 Jun 2020 07:15 PM PDT

    Useful? Search through all your SaaS apps via address bar

    Posted: 05 Jun 2020 03:00 PM PDT

    Hey all - have been playing around with a rough prototype that allows you to search through your connected apps via browser address bar. Would this be useful for you? If so, what other integrations would you like to see?

    For example, if you want to jump to a particular Slack comment that mentions "marketing report" you'd type: find /slack marketing report

    https://i.redd.it/dtlexjg4z5351.gif

    And if you want to jump to a particular campaign report in Mailchimp (complete with open and click rates), you'd type: find /mailchimp [Your Campaign Keyword]

    https://i.redd.it/iu4o7a65z5351.gif

    submitted by /u/copywriterpirate
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    I own a $1M house painting business and do absolutely NO painting. Every owner of a contracting business should do the same but FAIL at doing THIS

    Posted: 05 Jun 2020 06:04 PM PDT

    The entire purpose of marketing is to generate opportunity.

    • Opportunity for people to interact and potentially buy from your business.

    • Your sales process is supposed to help you capitalize on that opportunity.

    • Your sales process isn't just the exchange of funds, however.

    Your sales process is how you interact with the opportunity, from the moment they entire your store, your CRM or contact you.

    It's your initial greeting, it's your follow up process, it's your pricing structure, and yes, it's your closing tactics.

    Your sales process is the process of taking someone from a "lead" to a "customer"

    Now, once that person becomes a "customer" they must now go through our production process.

    Your production is designed to fulfill the promises of your marketing campaigns and your sales practice.

    The successful execution of these 3 areas is a guaranteed recipe for a healthy business.

    My work revolves around contractors. Here's what I've noticed:

    • Contractors, by default, focus primarily on production. This is because when they make the decision to own their own business, in most cases they do so from the position of an employee of a company doing the trade that they're starting a business in.

    They lack in sales, they lack in marketing.

    They have a hard time with marketing because they see the money they bring in they same way they seen it when they received a paycheck. In most cases, as an employee, they didn't have practice "re-investing" it. They had no need to.

    A successful contractor understands that they need to take profit, allocate a certain amount of that profit to marketing (advertising, buying leads, etc) to perpetuate the growth of the business and free themselves from the actual production (because production takes the most time)

    The idea is to find a system that works, that brings in consistent results month after month. There's 3 main issues that I've recognized are consistent with contractors who are failing to escape the day-to-day production:

    Issue 1:

    • A contractor who's focused 90% on production (Because he's really good at it) will have a very hard time escaping performing the actual production because he doesn't understand that he needs to spend money (on marketing and advertising) to create opportunities to generate more money (enough to keep a team busy to eventually free him/her from the physical labor.

    Issue 2:

    • Selling is an art, it's a skill and it's the MOST valuable aspect of the 3. Selling is the ability to convince (through building trust, showcasing professionalism) someone to transition from an "opportunity" to a paying customer.

    Issue 3:

    • Contractors have a really hard time understanding the difference between giving an "estimate" and "selling"

    If you give an estimate, you're essentially positioning yourself to be compared to another contractor merely off of price.

    If you're selling, you're building value, building trust, and closing the deal. You're creating more than just price to be compared to.

    This increases your sales ratio, this helps you perpetuate growth, and it helps you increase your conversion ratio.

    Once you have a strong marketing system (that brings you consistent opportunities)....And you've developed a strong sales system (where you consistently transition someone from a lead to a paying customer)....

    You've then positioned yourself to feel confident enough to keep a team busy.

    This is why so many contractors opt to hire subcontractors, because they're not confident in their ability to keep employees busy.

    ----- 33% 33% 33% ------

    Most contractors are doing everything themselves, especially owners of small painting businesses, flooring businesses, drywall businesses, etc.

    That's not a horrible thing, but the goal of said contractor should be to create a small system within each of the 3 categories to create predictability so they can free themselves from the physical labor aspect of their business:

    • With a strong marketing system, you'll bring in a consistent flow of leads

    • With a strong sales system, you'll capitalize on those leads and create customers

    • With a strong production system, you'll turn those customers into lifetime customers

    I know there's a lot of you who read these and wonder how it all works, especially if you don't own a business. Here's my TL;DR

    TL;DR: Your business is like a flower. Production, marketing and sales are equivalent to the Sun, Wind, and Water. If you're lacking in one, the growth of the flower is compromised. Diversify your efforts and create a system that helps you predict results in all 3 areas. Streamline your efforts.

    Thanks for reading!

    Follow me on Instagram www.instagram.com/tradethrive or join me at r/paintingbusiness

    submitted by /u/Byobcoach
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    Hedge Fund Owner Ken Griffin Buys Basquiat Painting for More Than $100 Million

    Posted: 05 Jun 2020 11:09 AM PDT

    Gap CEO Takes a Stand on Paying ‘Fair Rent’ During Reopening

    Posted: 05 Jun 2020 10:36 AM PDT

    Bombardier to cut 2,500 jobs worldwide

    Posted: 05 Jun 2020 03:32 PM PDT

    How many business credit cards can I give to employees?

    Posted: 05 Jun 2020 02:55 PM PDT

    Let's say I have around 50+ employees, is it remotely possible to give all of them a business credit card?

    submitted by /u/-Adapted
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    I'd like to learn the most basic yet essential fundamentals to start and manage a business.

    Posted: 05 Jun 2020 08:37 AM PDT

    We all know that any business is about making money after all, be it an e-commerce, service, selling physical product…ect. They all after all have a common basic needs that can make or break these businesses. For instance, knowing how to calculate the break-even point is one of these fundamentals, right? So what else are there, and even for calculating break even, what should I learn to be good at that?

    Books, websites, online courses, Youtube videos, anything that includes a well put information will be helpful. However, I prefer to master this side of the business, so the stronger the source and material the better.

    Thank you!.

    submitted by /u/pixelatedbeard
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    The Soured Romance Between China and Corporate America: For years, big U.S. firms were Beijing’s most reliable allies in Washington. Now they’re taking a harder stand.

    Posted: 05 Jun 2020 10:23 AM PDT

    Bargain-conscious Americans lift used-car sales in the coronavirus economy

    Posted: 05 Jun 2020 04:19 AM PDT

    Sourcing Manufacturers

    Posted: 05 Jun 2020 07:13 AM PDT

    Looking mass produce custom liners for planters. Does anyone know the most cost effective solution for this? Should I get quotes from local manufacturers or try to outsource internationally? Company is located in the US. Any advice would be appreciated.

    submitted by /u/ForestCityMaker
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    How do startups expand so quickly? (Deliveroo, Shipt, Just Eat, etc)

    Posted: 05 Jun 2020 08:20 AM PDT

    When we look at these popular food delivery companies, they have a common trend of being founded and quickly expanding their operations throughout the country within the year.

    I was curious how they manage this expansion so quickly?

    submitted by /u/AdaptedStudios
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    14 Year old entrepreneur with a 15 year old partner from Romania

    Posted: 05 Jun 2020 08:13 AM PDT

    Hey everyone, so i'm gonna start by giving a little background. Me and my partner (who lives in Romania) formed a web application for a competition and we actually won. It was like 150$ plus some officer hours with a professional. So they told us that we definetly have to proceed with some legal stuff. How can I do this, I am literally so confused at how the legal stuff works. He's from Romania so I think this makes it 10x more complicated. Please help!!!

    submitted by /u/Ecossentials
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    Tenants’ Troubles Put Stress on Commercial Real Estate

    Posted: 05 Jun 2020 02:18 AM PDT

    how do u guys think of 5Gbusiness

    Posted: 05 Jun 2020 09:22 AM PDT

    i just have a idea is 5G maybe rlly a big chance speak ur mind n comment below guys

    submitted by /u/luoni666
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    As a business owner, what are the 2 biggest issues you've encountered in generating new clients?

    Posted: 05 Jun 2020 08:18 AM PDT

    Hello all hope you've had a great Friday.

    Looking for peoples experiences. I know Corona has had a huge impact on businesses and as a result a lot of us have had to shift to a more digital way of working.

    I'm looking to do the same but wanted to get your opinions first.

    All experiences welcome, just looking to see what issues there are.

    Looking foward to reading your responses

    submitted by /u/VisiCast
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    Euro in the ascendancy on the back of ECB stimulus

    Posted: 05 Jun 2020 04:17 AM PDT

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