What Does A Politically Incorrect View of the Job Outlook Imply For Your Business?

Just when you thought the world was getting back to some form of normal, the economy changed again. And it looks like turbulent and roller coaster economic volatility is still here for the next few years.

For business that has to make decisions with mid-term and long-term effect, you want real information, not the recalibrated type oriented for immediate voter appeal. If so, you may benefit from mining the information in the article by best-selling author and financial advisor John Mauldin in the periodical Business Insider titled It is All About The Jobs — And Gold.

He suggests job statistics are worse than Washington wants to admit. As one example of a series of somewhat mundane sounding statistics, economic interpretations and risk management points, he refers to the fact that recent data keeps getting revised downward after being released.

Why does such a mundane sounding issue as changing prior month job data impact your business model decisions? This matters to you because (a) the optimistic spin goes out with pats on the back so you will move forward optimistically in your business tactics and strategy, (b) the revision downward gets a footnote after the fact, which is normally ignored, and (c) by revising the numbers downward after their initial release, it is easier to describe job changes in a later month as an improvement. So the short-term oriented government proclaims how well they are doing to help business and you have the wrong feel for the economic outlook.

If you are concerned about the possibility of whether or not, the economy could encounter a second downturn, even recession, think about this. His implication seems to be that we are teetering on a double dip recession, when there is such potential for upside if the administration and government were less anti-business on regulations and costs.

In spite of all these concerns, you have to make the business decisions today needed to run your business and life.

Should you hunker down to conserve cash and go more fiscally prudent in your company or view this as a strategic opportunity to be optimistic?

Every person’s situation, particularly their cash resources, is different. For those fortunate few with adequate to great access to financing, you might remember the concept that the time to make business decisions is to keep you head when others are losing theirs. Of course, keeping your head means looking at your industry and business opportunities truthfully and from an independent outside perspective. Those less fortunate in their current balance sheet position and future cash flow projections might consider how to move into the resource richer status to be able to take advantage of opportunities in this new turbulent world.

Custom Labels Will Help Your Business Grow!

Whether you want attractive colorful custom labels to promote your business inside or out, or bring your business name to the public’s attention, there is much to appreciate in custom labels. They come in a wide variety of sizes, shapes, materials, and colors that are simply amazing! Let’s look at some uses for custom labels.

First the practical applications and uses for labels

Business owners know that the best and most affordable method of promoting their business is with signs. Signs however can be bulky and not quite as portable as they wish for some situations. Stick-on labels can get the job done quite handily because you simply stick them onto any surface (except maybe the employees themselves).

Hard hats, ID tags, coffee cups, cars and truck doors or windows, and store front windows are just some of the practical applications for your custom labels. Custom implies customized and that means you can make them say whatever you want, then apply them wherever as a highly affordable and absolutely effective means of advertising your business.

Custom labels can be window clings that merely adhere and are completely removable when you wish to change it. They can be permanent and stick through wind, weather, and abuse. Labels identify by applying to badges or buttons.

A myriad of uses for the most practical and effective sales tool

1) Businesses such as radio stations give away their custom stickers as a means of promoting the station and to encourage new listeners or advertise their latest contest. These will be small and brightly colored, intended to fit on vehicles rear windows or back bumpers.

2) Pizza delivery is an excellent example of those who only want temporary promotion and can safely remove the label once the job is done.

3) Car dealers may wish to apply permanent decals to the back of cars they’ve sold to advertise a successful sale or as temporary promotion applied to the front and rear windows.

4) Businesses and schools may opt for a temporary parking permit in the form of a removable custom label.

5) Politicians love to see their name on labels all around town! They consider this the absolutely most affordable way to get their name known, perhaps to see spectacular results at the polls.

Custom labels can be bold and beautiful!

Usually made from vinyl or paper, the custom label can be printed on rolls or sheets that are easily handled. Selection of just the right label can be quick and simple and even a child can do it. In fact many kids love these labels and stickers because they can be applied to just about everything they own!

Bright and full of color and brilliant graphics, the ideal label can be applied to almost anything that the owner chooses. Just make sure they are the removable type if you might wish to take them off at a later date. With such colorful and sharp graphics these labels can provide a bold statement or more subtle message depending on the purpose. From shipping labels to user ID, a custom label is truly ideal for its many uses.

Official business labels state their purpose with style and sincerity

MasterCard, Visa, banks, security systems and guards, sports teams and their logos, and other businesses use custom labels to help identify what they represent and who handles their products. How could a sports team function without identifying themselves with brightly colored spirited logos printed on decals and are then applied virtually everywhere that team might play?

How can you know if MasterCard or Visa is accepted in a business unless they promote themselves on the entry doors? It’s all about promoting and competing and that’s what custom labels are all about!

LAST UPDATED ON: February 15, 2018

Essential Skills For Running A Home Based Business

When thinking of starting a home based business there are several areas of business set up that need looking at before making a final decision. It is easy to get excited (I know I have been there) and charge ahead without really thinking out the long-term ramifications of starting and running the business long-term.

Starting a business takes time to get going and in most cases money, so it is important to look at the whole picture and the long-term chances of keeping the business making a profit.

Take A Long Hard Look Realistically

When we are excited about a new business prospect we often get so carried away with the idea that we don’t look at the negatives, or even if we do, we choose to ignore them. But they are there and they will come back to cause problems you if you do not work through those negatives and work out how you will counteract them so that they do not impact on your business.

Tips For Owning A Successful Business

  • Know your small business inside out.
  • Be a knowledge source in your niche. Small businesses thrive with expertise.
  • During tougher economic times a small business owner has to hone their skills, cut back their stock to the essentials and learn to be an aggressive marketer.
  • Train your staff if you have them
  • Make sure that what you take on is going to last the distance in terms of long-term customer demand

You will see some small businesses that thrive no matter what the economic climate is. The owners just seem to have the know how. But in actual fact the owner has a clear picture of how they want the business to run, how they will promote it and what their long-term goal is for the business.

Some people can run a successful business by instinct but in today’s market it has become so much more difficult to be successful without putting in a lot of effort and also a lot of hard work.

Here are 14 business essentials:

  1. Sourcing or making a product or service that is in high demand
  2. Good budgeting and money management skills
  3. Having sufficient capital to start the business and back up capital to fund the ongoing business, and your personal expenses, until you are making a profit
  4. Good legal advice regarding any legal commitment you may have to make
  5. Be known as a source of excellent information in your niche
  6. Well trained staff in sales and customer communication
  7. Giving above average customer service at all times
  8. Attitude and determination to succeed
  9. Know how to market your business or employ someone to do it for you
  10. Have a Business Plan
  11. Have a Marketing Plan
  12. Choosing a memorable business name
  13. Registering your business name
  14. Registering a domain name and having an optimized website

If starting a business and you realise that there are skills you need to learn, then try to take the time before out-laying your capital, to obtain these skills. As soon as you start operating your business, you will be concentrating on the sales, and getting your business running smoothly. Learning new skills will be the last thing on your mind.

When you start out you won’t know all there is to know but as long as you have some good grounding in business then you can learn as you go.

Doing Business in China – Company Structures for Foreign Enterprises

There are only three paths for foreign investors to start doing business in China. The options are simple; you can open a representative office, a wholly owned foreign enterprise or you can run a joint venture with a local partner. Here’s a brief guide to each and their pros and cons.

Representative Office

A representative office requires an established overseas entity which should have been trading for at least two years (though this can be circumvented by buying an “aged” off the shelf company). Occasionally this requirement is ignored by the licensing authorities but there are no guarantees of this.

The representative office is allowed to establish an identity in China and to conduct negotiations with local businesses and pay invoices. It is not allowed to sell products in China or to hire and fire staff (any staff you need will be selected by the local authority and will cost you more than if you could hire direct).

Pros: In principle it’s a quick way to start a business, it enables you to do business in China legally

Cons: In practice it’s expensive, you lack control over your workforce, and you can’t sell anything locally

Wholly Owned Foreign Enterprise (WoFE)

We’re told by Chinese lawyers that this option is almost always chosen over a representative office in practice. A WoFE allows you to run your own business in China with total control over practices such as hiring and firing and where you can establish your office etc.

Because of the level of control granted to the owners many expatriates swear blind that this is the only or best way to do business in China. However it’s worth being aware that there are certain sectors in which WoFE’s may not be set up and others where the competitive nature of your business may be severely damaged by being wholly foreign owned.

Pros: In practice it’s cheaper to set up than a representative office, it offers you complete control over your business, you can hire and fire staff, setting up a WoFE is uncomplicated if a little time consuming

Cons: Lacks access to certain sectors, cannot qualify for state grants or subsidies which may be commercially damaging particularly if your business is in a “five year plan” focus area

Joint Ventures

A Joint Venture is a commercial entity that is jointly owned and managed by a Chinese investor and a foreign one. There’s been an enormous amount of media attention given to the difficulties faced by early investors in the country when starting a joint venture.

Certainly it ‘s not the easy option for conducting trade in China however joint ventures offer enormous opportunities for those willing to overcome the cultural hurdles, they qualify for subsidies in priority sectors and are well regarded by the state which may make certain barriers to business easier to overcome.

Pros: Qualify for subsidies, easier to overcome bureaucracy, will certainly have better connections for doing business inside of China

Cons: Can be a nightmare of culture clashes, partners need to be chosen carefully or you can end up with two organisations under one roof, require a high-level of co-operation and communication to be successful

The best place to start if you’re looking to set up in China is by talking to a local lawyer who can walk you through the options and the costs and give you an insight into local regulations and policies which may influence your decision.