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Tips For Starting A Profitable Business



profitable business

How many entrepreneurs do you know start a company with the intention of failing? We hope that this number is zero, but failure can be the result of a business even if it is unintentional. Serial entrepreneurs know many different ways to fail. This is because success in not guaranteed no matter what business you get into. They also share their tips to avoid failure to help you start a profitable business.

Surround Yourself With The Right People

The phrase “It takes a village to raise a child” also applies to a profitable business. Without talented individuals working for you, it will be very hard to survive. Surround yourself with amazing friends and successful business owners so that you can have access to different skills and knowledge that can help you grow a profitable business and make it thrive.

Build a Strong Foundation

Before starting your business, ask yourself why you’re starting it in the first place. How is your product or service going to help your target audience’s lives better? How does this idea align with your core values? Do you have a solid profitable business plan to make this dream a reality? The answers to these questions will help your business have a strong foundation.

Perfect Your Pitch

You should be able to describe your company in 3-5 words.  Think of AirBnB: a place to stay. Describing your business concisely will make it easy to understand. If it is easy to understand, it is also easier to sell. When working on your pitch, stay away from mistakes like using industry jargon that is hard to understand for the layman, asking the wrong questions to those who listened to you, not making the pith relevant to the listener or only talking about yourself.

Know Your Competitors

Keep your enemies close and your competitors closer. They are not the enemy but not knowing what they’re doing could be harmful to your company. Don’t hesitate to use tools to analyze your competition. Tools like SEMrush, SimilarWeb or even Google Alert can help tell you what your competitor is up to and increase your chances of survival.

Build a “Must Have Product”

Sites like Hacker News have a ton of really cool startups ideas. However, if you really want to increase your chances of survival and success, build a must-have-product instead of a nice-to-have product. The difference between the two is easy to spot. The former is a product that is hard to live without while the latter is more disposable.

Build A Company That You Can Scale Independently of Your Staff

It’s better to grow a company that can be scaled using technology and automation. Take Groupon for example that did the opposite. They have a massive staff because they need it to keep new deals flowing everyday and to service their customers. Their company is not scalable because their growth is dependent on the number of staff their hire. This is why their balance sheet is awful.

 Find Ways To Keep Costs Low

You can think of cash as your company’s lifeblood and high cost is equivalent to a hemorrhage. Remember that all the cash in the world is not worth anything unless it’s a positive cash flow. Find ways to keep your costs low like going directly to the supplier or negotiating for better prices. Find better ways to finance transactions and ways to work out deals.

Focus on Sales and Marketing

Nothing happens in business unless a sale is made. From the start, find ways to get leads and ways to convert those leads into sales and make sure you are getting repeat sales from your customers. To do this you need an effective sales and marketing funnel that you can work, test and measure.

Always Find Ways To Increase Profits

Don’t rest on your laurels yet. Don’t just be happy with getting customers and making them buy from you. Always find ways to get them to buy more.

Embrace Creativity

Brands like Apple and Ikea stand the test of time because they have followers who are loyal to them. They also differentiated their companies from their competitors by embracing innovation and creativity. Reach out to your employees and don’t be afraid to use their ideas. Launching new products and developing a clever marketing campaign is a good way of retaining that competitive edge your company needs.

Test and Measure

Are your marketing campaigns increasing sales? Is your social media presence helping drive traffic to your website? Testing and measuring everything gives you perspective especially if you want to find ways to increase traffic and keep costs down. Use tools like Google Analytics and Unbounce to help you test and measure marketing campaigns.

Empower Your Staff

No matter how big or small you are, empowering your staff by letting their voices be heard can help boost your profitability. When they feel that they are contributing or when you give them freedom to work, you are making them feel wanted which can greatly affect their productivity and self confidence.


Why Amazon’s Second HQ Should Choose Nashville



Amazon's Second HQ

Nashville is amongst 20 cities being considered for Amazon’s second headquarters site. The “Country Music Capital of the World” hopes to boost their state’s job market with the new Amazon Headquarters. Amazon’s second HQ expects to invest more than $5 billion to build the 8-million-square-foot facility and promises to create as many as 50,000 high-paying jobs over the next 15 years. Before any decisions are made, the company created specific requirements to be met for each city. Some of the requirements include a metropolitan area with over a million people, a time distance of 45 minutes from an international airport, direct access to public transportation, and to be able to expand 8 million square feet in the next decade.

The Unemployment rate is on the rise in Nashville. City officials have their sights set on the on the jobs that Amazon’s Second HQ will provide for 50,000 residents. “It is going to increase the size of the economy,” University of Tennessee Economist Bill Fox stated, “It is going to bring in a really highly skilled labor force that is not already there, a lot of community leaders. To have somebody with the worldwide vision of Amazon look at Nashville and say, ‘This is the place we want to be’ is really good for the brand.”

The aspect of new jobs may not be enough for some to welcome the online retailer with open arms. Residents of Nashville fear the new site would affect the housing market for low income families  in the process. “If you look at the size of Nashville, a headquarters like this bringing tens of thousands of jobs, it’s going to radically affect what the housing landscape looks like,” said Javier Vivas,’s director of economic research. Amazon’s decision creates an atmosphere for the conservation of gentrification not only for Nashville, but the other 19 cities in the running. “We have a housing crisis now and all this would do is throw gasoline on the fire,” said John Summers, a former Metro Council member who now leads the Coalition for Nashville Neighborhoods. “We cannot build affordable housing to replace what’s being lost by the rapid gentrification in all of our inner-city neighborhoods.”

The community of Nashville are now able to broadcast their opinions on Amazon. While state officials deal with the financial benefits, agencies and businesses within Nashville are now able to give insight on their city as well. This is why Amazon’s second HQ should choose Nashville.

If you are an agency from Nashville, and wish to contribute, please fill out this form here:

*Sponsored by Penji

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Why Amazon’s Second Headquarters Should Choose Northern Virginia



Amazon’s second headquarters

Among the top 20 shortlist for Amazon’s second headquarters, Northern, Virginia is not a stranger to the massive tech company. Amazon CEO Jeff Bezos have frequently conducted business in the region. Bezos is known to own The Washington Post and Amazon’s cloud service AWS is situated in a huge data center in the northern Virginia region. It is no surprise that Northern, VA is listed on the list. This region proved to be a safe home for Bezos’ businesses, it would only make sense that Northern, VA is the next home for HQ2.

While the nation waits for the announcements of Amazon’s second headquarters, speculations rise as Amazon employees crowd The local news-source for Arlington Virginia have reported major traffic from an internal Amazon site. The article reporting the county’s green building council had received over 6,000 page views and 3,500 visitors from an Amazon web page that is only visible to Amazon employees. Amazon’s interest in the community’s dedication to sustainability is predicted to help the company’s future development of a sustainable building of their own.

The area is surrounded by copious international airports including Ronald Reagan Washington National Airport, Washington Dulles International Airport, and Richmond International Airport for Amazon’s consideration  of transportation. The bid for Amazon had reports of the Hub property as a potential site for Amazon’s second headquarters. This 85-acre undeveloped location is near the Dulles Airport, perfect for Amazon’s demands.

Amazon’s second headquarters

Amazon announced that they are developing a second headquarter of up to 8 million square feet in order to accommodate 50,000 workers. The plan to bring in 50,000 lucrative jobs to the new location will create billions of dollars in investment for the community. This opportunity for economic expansion does not come often, but neither does a perfect business location in Northern Virginia that is close to Bezos’ other businesses.

A possible site for Amazon’s second headquarters is on the border of Fairfax and Loudoun counties along Metro’s Silver Line. “We are very excited that Northern Virginia is included on the short list as a potential location for Amazon’s second headquarters,” spoke the chairman of the Fairfax County Board of Supervisors, Sharon Bulova. “Fairfax and Loudoun counties are able to offer a great quality of life coupled with an innovative and business friendly culture for future Amazon corporate neighbors and employees. With our highly educated and talented workforce and a location close to Dulles International Airport and a new Silver Line train station, we hope we will have the opportunity to welcome Amazon HQ2 to Virginia.”

Small businesses and agencies within Virginia are able share their professional insight to Amazon now as well. This is why Amazon HQ2 Should Choose Virginia.

If you are an agency from Virginia, and wish to contribute, please fill out this form here:

*Sponsored by Penji

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Why The Second Amazon Headquarters Should Choose Toronto



Second Amazon Headquarters

Amazon is considering their first international city for their second Amazon headquarters. The bids for HQ2 have reached Mexican regions too but the tech company have their eyes on Toronto. Prior to this announcement, Toronto has been established as a major technology center. Their advancement will only grow from here, perhaps even more when Amazon arrives.

The city reported that they are not offering Amazon much financial incentives, but is offering a 100-acre land as a potential site for their second Amazon headquarters that is approximately close to downtown Toronto. Although this site is outside of the United States border, Toronto is the best option for the innovative company.

The mayor of Toronto, John Troy expressed how proud he was of the city when Toronto attracted Amazon without offering significant tax breaks. Toronto does not have to resort to selling themselves for the second Amazon headquarters, unlike other competitors on the top 20 shortlist. Toronto is already home to a significant Google engineering operation, a major artificial research center and quantum computing institute. Due to the massive influence in technology, there are plans to direct Toronto’s waterfront into a massive tech-city for the near future. This environment will foster Amazon and future companies moving to Toronto.

 Second Amazon Headquarters

The second Amazon headquarters require proximity to a metropolitan area with a large population for employment, mass transit, an area that is 45 minutes from an international airport, and an 8-million-square-foot facility that will eventually expand to 740,000 square metres over the next decade. Toronto would be an ideal location to attract talent from overseas. This move will put Amazon’s name outside of the United States and begin their serious international affairs. North America acknowledged the massive tech company’s capability when Jeff Bezos was announced as the richest man alive in 2017. After Amazon CEO Jeff Bezos dethrones Bill Gates, the entrepreneur should look to invest in talent from overseas. This plan can start with a move to Toronto for the second Amazon headquarters.

Toronto holds a strong quality of life. Canada is notorious for their free healthcare, something that the United States is lacking. The affordable area is attractive to employees. “We’re excited to have this opportunity and to be able to tell Toronto’s unique story,” told John Troy. “There is no other place in North America that can boast the same talent, the same quality of life, the same vibrancy, the same economic strength.”

Small businesses and agencies within Toronto are able share their professional insight to Amazon now as well. This is why Amazon HQ2 Should Choose Toronto.

If you are an agency from Toronto, and wish to contribute, please fill out this form here:

*Sponsored by Penji

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