Blog Category: Startup Advice
23 March 2012
Different businesses will have different needs when it comes to starting up. For example a builder will almost certainly require a white van, while a web designer may only need a computer.
However, there are some crucial tools that all start-ups should consider having, this post attempts to identify some of the key tools for business start-ups. Some may be obvious but others may be less so but all should be considered by those starting out on the road to self-employment to ensure they access the benefits the lifestyle has to offer.
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20 October 2010
Millions of people around the globe are just dreaming of the day they can stop waking up to the sound of alarm clocks and the smell of stale coffee with the sole purpose of going back to work for another long and grueling day. The work-from-home dream is alive and well in a lot of us. The chance to be your own boss is too good for many to pass up on.Especially in tough economic times, all different types of people turn to their computers in order to start up a business and have the freedom from the 9-to-5 lifestyle they've always wanted. The lucky ones among us are successful but it's certainly no accident that a person finds success as a work-from-home entrepreneur.If you were to take your time with starting up a work-from-home business and avoid the different get-rich-quick scams and avoid the pitfalls of rushed enterprise, you'll find that there's a lot that goes into starting any business. Something often overlooked is the tax implications of a home-run business.
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21 September 2010
For people in business in the past few years, it's been a tough road due to the economy. Of course, you can stand around arguing about what did it government entitlements, unbridled capitalism, bad luck, etc. However, knowing the cause of global collapse won't help you personally. What's important to focus on here is your own business's long-term growth.
A lot of people wonder if long-term growth is even possible in a recessive economy. After all, a recession means that people aren't out spending money. So how could you ever expect to experience growth, much less sustain it?
The real not-so-secret secret here is that people don't stop spending money altogether. They just pinch their pennies tighter and refuse to waste money on the proverbial chance, while also separating what they want from what they need. This could hurt your business, but it could actually be a good thing for your business an explosive opportunity.
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06 September 2010
There are so many things to consider when starting up a business that it's a wonder people even bother. However, the payoff is what everyone is after, and a few little regulations and hassles never seem to curb the motivated people of the world. That great vision of a successful business can cause you to forget a few things, though, like insurance.When you're starting your business planning, you're undoubtedly thinking of things like the products you'll sell/services you'll offer, how to market and promote your business, how to get financing, taking on a business partner, the tax implications, the zoning and licensing (if required), etc. Insurance can easily slip through the cracks.Do you even need insurance as a business startup, or can you just avoid it until later on down the road?
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21 July 2010
A lot of people operating home businesses are literally working 15 minutes a day and enjoying ample revenue. This isnt to say that theyre not stressed out about the business and constantly having to worry about its direction; but some bring an idea to the table and choose to outsource the day-to-day operations like content writing, linking and Internet marketing. If choosing an Internet marketing company is something youve been entertaining, then you do need to know a few things before proceeding. A lot of these companies will charge a pretty penny to put your sites name out there and deliver some traffic. Unless you pick the right one and open up a line of communication, you could be looking at a wasted investment.The first step in this process is to do a little bit of research. You may not know enough about SEO to optimize your own website, but you can certainly enter a term like the best Internet marketing companies or something similar.
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30 June 2010
One of the biggest factors in failing businesses is undoubtedly the stiff competition out there. Far too often, people assume they have an original and winning idea and leap right into their businesses completely unaware of the competition. They then find themselves up against the wall, as their efforts continuously fall short of the competitors who are already established. You can easily get around this by performing a proper analysis of your competitors before entering into the business arena. This way, if there is still competition out there, you'll know exactly how and why to tweak your ideas so that you find an untapped niche market. Any competitor analysis you do will start and end with your willingness to do some research. This isn't something you want to outsource or trust to instinct. You need to become part of the market and find out exactly what's going on around every corner. If you miss something or choose to take something lightly, it could easily come back and bite you.
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18 June 2010
Finding people you can trust in business is crucial to your success. A lot of businesses fail within the first year of operation, and one of the largest factors of failure is undoubtedly the infighting and multiple directions pulling apart the company's foundation. This can be eliminated by choosing the right people before you put the rest of your plans in motion.Even the best business ideas are irrelevant if you're not able to put your business together properly. A great team at the start-up will make a world of difference. Let's go over a few tips you can use to build the right team.
Set Clear ObjectivesYou will need to have a very clear idea of how you want to proceed in the market. This will enable you to find like-minded individuals heading in the same direction. The people you choose shouldn't be carbon copies, but they should have common goals of success and the drive to succeed.
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12 April 2010
Starting your business begins with an idea. Nothing has ever fallen into an entrepreneur's lap; it's all been about thinking up a unique idea and angle, and pursuing it fervently to see it through fruition. There are many ways in which you can go about starting a business. In this article, we'll cover the three Ps: Partner, promote and profit. First up is the partner. Now, like a marriage, you're going to want trust, devotion and still an informal relationship that involves some enjoyment outside of the business arena. Although the last point isn't vitally essential, it still helps tremendously to forge a friendship with a business partner, allowing for regular dialog and a positive attitude. Finding a business partner shouldn't be hard work if the business idea is worth pursuing. You would be surprised at how many people jump at the chance to take part in a business they think will be profitable. It's a possible life-changing venture that brings out the entrepreneur in us all.
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Tags:
advertising,
customers,
trust,
profit,
facebook,
twitter,
myspace,
entrepreneur,
business partner,
promotion,
link exchanging,
Posted in:
Business Planning,
Startup Advice,
Marketing,
Business partners, |
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09 February 2010
Practical Steps to Take in the ProcessFinding a business partner is perhaps one of the largest steps youll take throughout the process of starting and effectively running a business. Finding any type of partner can be a difficult process, but with business, youre looking for someone to not only meet your expectations, but exceed them. Youre looking for a strong working relationship, trust, and many other attributes that will help this relationship grow stronger as time passes.
The first step is perhaps the most important, and is to do with exactly what to look for in a partner for any business.
Knowing what you wantIt may seem pretty straightforward and simple, but many people simply dont know what they want in a business partner. They choose based on qualifications or monetary purposes alone and end up in a bad partnership. So approach this step by listing out the values you seek in any partner.
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08 December 2009
You wouldn’t try to sell comic books to a baseball card collector would you? They’re just not the same market. The card collector has no interest in comic books, so to set up your business to cater to the card collector would be a waste of time and money. Instead, you want to cater to the comic book collector. It’s common sense. It’s a niche market.For the many people trying to work online, the right niche market is important. Sure, you could get 10,000 visitors looking at your site, but if they all want baseball cards, you’ll have zero conversion with your comic books. Use anything as an example, and the results will always come back the same: you need to cater to your market. Traffic to people who are more likely to buy the products you’re selling. This is how good business is done, and if you want a good business, you need to learn how to find a niche market.
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25 November 2009
Thinking about starting a work-from-home business on your computer? During these tough economic times, one of the only true industries proving to be recession proof is Internet marketing. Of course, this doesn’t mean that any goose you shack up with will lay golden eggs.Truthfully, most Internet businesses fail before they even get started. Why is this? It all has to do with the type of products people sell. In order to turn a quick profit, some entrepreneurs deal in ultra-cheap products and work to make a quick turnaround. This is a disastrous business method. Sure, things may look okay in your bank account for the first week, but after word spreads that you’re the Sanford and Son of the business world, you’ll go down like the Hindenburg.
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Tags:
advertising,
return on investment,
entrepreneurs,
reputation,
satisfaction,
aim to please,
affiliates,
lasting relationships,
profit,
quality service,
roi,
resale options,
gossip,
word of mouth,
real world,
hooking up,
joint ventures,
Posted in:
Startup Advice,
Business Psychology, |
Comments (3)
03 November 2009
When starting a new job, many people choose to forfeit any type of formal training and just “wing-it,” as it were. This may be a working approach, depending on the job, but it’s not very smart if you wish to make a career out of what you’re doing.Most jobs, by and large, are easy enough to prepare for. Even some of the most advanced online techniques have training courses that are affordable and easy to follow. Choosing to participate in training could easily be the difference in success and failure. In order to answer this all-important question, you can look at it in very simple terms: does what you’re planning to do require a skill - or a set of skills - that you haven’t acquired? The question itself is simple enough; the answer, on the other hand, will demand you layout your business plan, examining every conceivable aspect, and figure out what you know and what you need to learn.
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20 October 2009
Have you drunk a Coke lately? Have you gone to McDonald’s? These brands are recognizable around the entire world. What about them makes them tried, true people pleasers? A well executed approach to branding is a key part of the immense success enjoyed by such companies. They’ve also been a very long time in the making. What you see today is a culmination of years of research and trial and error. The world’s best brands have been tweaked and reinvented and are constantly changing in small ways without changing and losing their repeat customer appeal and an awful lot of work goes into building a brand that’s so incredibly successful. Is it worth it? Put it this way: Who hasn’t heard of the names mentioned above? Obviously, 99.9% of all businesspeople aren’t going to have that sort of brand - but you never want to treat it as any less. Your brand is your name recognition; your image. It is what makes you and your business unique, desirable, and honest, and, most importantly, worth spending money on. To you, a brand should be your business’s identity, and it should be a part of you that you care enough about to constantly improve.
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06 October 2009
Always aim high. One of the biggest pitfalls of a new business is not thinking big enough. You may only want to make a comfortable living for you and your family, but the pitfall here is being content with just sustaining a nice lifestyle. With no ambition to expand your company, you may be one of the first to fold in a tight situation. So, by all means, be greedy and expand; it’s capitalism at its best. It’s also the best way for you to protect yourself from a bad economy. Even if the risks are high, it’s better to take that risk to get a foothold in different areas which may have better business during different times of the year, or may fair better during lean times. But proper risk assessment should still be employed. There’s a difference in going for the gusto and going for broke.Always be careful when choosing a business partner. Remember, even though it probably makes sense financially, most partnerships don’t work out. If money’s the problem, try to borrow as much as you need to start and grow your business. But if you absolutely must take on a partner, make sure it’s someone you can really trust. Untrusting relationships end in bitter divorce -- just ask the 50-million separated couples.
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28 September 2009
The importance of IT in today’s business is for some a top priority. Let’s take the average small business. We are not talking about a web hosting business that would spend 80% or more of its budget on IT. What should one spend on the IT side of the average small business?Make a list of your needs and wants for your business. This is easy; whether an existing business or a startup, you must know what it takes to do business in the sector you choose. Taking a look into the competition, they can offer some insight into the hidden or unseen items needed during the planning phases of your budget.Keep in mind any business should set aside at least 5% for future innovations. Starting there that 5% will usually go towards the IT side of the budget. Huge advancements are made in the IT world daily and companies often have trouble keeping up due to the lack of planning ahead with their budget. So, we start with 5% automatically. This may not be spent for a few years, but when updates to equipment like PC’s or phones are needed, you will be ready.
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15 September 2009
Getting StartedThe following guide will cover basic tips and techniques to enable the development of a marketing strategy for a business. Properly implementing a strategy is equally as crucial as the strategy you choose to proceed with.The most important thing to remember is that, in order to achieve sustainable success, the market strategy chosen must be effective. However, thousands of new businesses continue to fail every year, even with a solid strategy in place.This is in no doubt due to a lack of correct implementation. A small business that has the vision to get started with a dynamic strategy has infinitely greater odds of survival than one that starts without. Setting a business apart from competitors is essential in business. Putting a great strategy in place helps to do that.
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08 September 2009
Where can you find business angels and what do they offer? In answering this question we must understand what a business angel is. They are simply people who provide businesses, usually startups, enough money to move up to the next level. Their professions range from retirees and doctors to business owners and executives, one may just even be your neighbor. There are over a million such investors annually in the US pumping capital into businesses. So where do you find business angels? This is not easy. First, most individuals find these angels within their social network. Once your plan is solidified and it is ready to go, reach out to that network. Some steps to take:
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26 August 2009
Thanks to the many business owners of the world, our lives are made easier each and every day. Not that you always think about it, but from the time you wake up in the morning to your coffee 'til you go to bed at night with the TV on, businesses have made both your comforts and necessities possible.There are literally millions of people who attempt to start up some form of business each year around the globe. For most, they are deterred and are ultimately unsuccessful. For others, their businesses do start up, but plummet within the first year. The lucky few who make it owe their success to an unlimited number of factors. For potential business owners of the world, one way to improve your chances of success is to buy pre-owned.Instead of starting up your own business from scratch, buying an existing business can really help you be successful. There are many benefits in buying and taking over an existing business.
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18 August 2009
A mentor in life is defined as a wise and trusted guide and advisor. This can mean your parents, teacher, coach, spouse, neighbor, or even a bus driver. The idea of having a mentor has been around for years. People always need someone they can trust, and, moreover, someone who knows more than they do about a particular subject.Anyone can be a mentor and anyone can seek a mentor; but when dealing with particulars, some mentors are better than others. For example, a business mentor wouldn’t necessarily be your high-school English teacher. If you wanted or needed a business mentor, one of the prerequisites is their personal experience with business, thus someone who knows the finer points of business is a must.A business mentor can easily mean the difference between success and failure. No matter what type of business you’re planning on running, it’s always better to defer to the experts. Unfortunately, many only seek out the use of a business mentor after their previous business attempts have failed.
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11 August 2009
IT Security basically deals with the protection of software, hardware, and the network of an organization like a business. It is often confused with other areas of security like information security, but it protects a business differently. IT security protects a business and other personal and financial details by preventing dangers posed by external attacks through the use of hacking, viruses, Trojans, etc.In today’s world, most people handle their businesses electronically at some point. Financial data, personal employee records, and other vital information are stored on computers. If this information is jeopardized, the entire business can fail.There’s no way around it, information is practically the most essential resource for all businesses in today’s market, and it’s also the key to growth and sustained success. It is extremely important to ensure that your IT systems are as secure as they can be. If you experience a security breach, the initial fallout may seem minimal, but over time, this breach could prove to be disastrous.
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05 August 2009
Government officials may be trying to tax small business into extinction, but that doesn’t deter the many thousands of individuals with dreams of becoming small business owners. Unfortunately, not many people planning to go into business have enough money to get started.Even something like a website business can take thousands of dollars to get going. When you’re dealing with an on-site clothing store, corner grocery, print shop, etc, the funding needed increases exponentially. If most had the money needed to start a business, ironically, they wouldn’t need to start a business.The truth of the matter about businesses is they need to be funded by outside resources, such as loans from banks that specialize in just that. Knowing where to look, however, is only half the battle.
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Tags:
tax,
small business,
pitch,
funding,
business start-up,
investors,
shares,
timescale,
profits,
trust,
Posted in:
Startup Advice,
Investment and Funding,
Financial Planning, |
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28 July 2009
“Graphic design” refers to a number of various artistic and professional aspects which focus on visual communication and presentation. Graphic design can involve the use of numbers, images, words, and different colors and shapes to create a visual experience and representation of messages and ideas.You can find graphic design in almost every aspect of everyday life, including magazines, books, TV, etc. This kind of design has particular importance on the internet, where a person’s graphic design sets them apart from the other millions of users. The importance of graphic design in today’s marketplace cannot be undersold. The actual market is shrinking due to the vastly growing reach of technology. Because everything is contained within a “group,” the idea of individual graphic design becomes infinitely more valuable to a business.
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14 July 2009
Whether you’ve been laid off from your job or simply wish to pursue a career path with more freedom, freelancing is available for any person who wishes to participate in the gigantic marketplace. Any particular skill can be provided for freelancing and the types of buyers range from individuals to large companies.Working for one’s self has always been a popular notion. Setting your own hours, decided what you get paid, and being free to spend more time doing the things you love are all among the many positive benefits of freelancing. Getting started in freelance work can be really simple, or incredibly difficult. It all depends on the route you take.There are a few essential steps that everyone can employ to ensure their chances of becoming a profitable freelancer are increased exponentially. Playing things by ear may be the wrong move, as one failed attempt can permanently sully your name. On the reverse side of that, a good start practically ensures future work.
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Tags:
market research,
freelance,
freedom,
work definition,
freelancing jobs,
web programmer,
graphic designer,
writers,
Posted in:
Business Planning,
Startup Advice, |
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10 June 2009
Many people are struggling during these economic times. From the largest cities in the world to the smallest towns, millions of individuals find themselves needing extra income just to make it, or new jobs after an unexpected layoff. The 2009 world recession isn’t anything new. We see situations like these repeatedly. For many, the place to turn is the Internet. Freelance work is at an all-time high, and with a simple look, it’s easy to see why.A “freelancer,” simply put, is a person who seeks work through their respective profession without the long-term commitments from an employer. Freelancing has historically proved to be recession-proof, thus causing an explosion of freelancers during tough times. There are no set-in-stone prerequisites for freelancing; basically, if you can perform a task, you have what it takes to succeed as a freelancer. All types of demographics appreciate the freelancing market. One of the more popular “types” of freelancers is the stay-at-home parent. Whether it’s a busy mother who doesn’t have time for a career or a father who’s found himself out of work due to injury, or an infinite amount of other scenarios, freelancing work is available. Husbands and wives, mothers and fathers, single parents, etc; freelancing remains a popular option.
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03 March 2009
The next section to be included in your business plan is the “Legal Status and Licenses” section. With this, you will illustrate what legal status your business will have, if any. These decisions affect your tax liability and determine when your taxes will be paid. Investors are concerned about this, as it concerns money. It’s up to you to choose the appropriate legal status.If your business needs legal licensing, you need to acquire the necessary licensing before investors will lend. If your business is a work-from-home type of business, you may need to approach a landlord for permission, or something similar. Make sure you don’t fail to include any licensing details in the plan.In the “Management Processes” section, you will carefully illustrate how you plan to manage your business. Making sure that you’re organized will make your business run more fluently, and by illustrating this on the business plan, investors will know how you plan to handle your business.
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03 February 2009
Understand the Concept of a Business PlanUndoubtedly, putting together and implementing a proper business plan is one of the most important aspects of starting a new business. By doing this, you will be able to easily set targets and goals, formulate and implement ideals, verify realistic and functioning approaches to the business, and push towards the long-term success of your particular business. This essential tool works to attract the startup funding for your business. The document needs to be dynamic, jumping off the page at potential investors.The document also needs to be reviewed and monitored regularly to measure the overall performance of the business. This guide will explain various aspects of what your business plan should include and how you should formulate one for yourself. Various strategies laid out in this guide will be vital to the proper formulation and implementation of a business plan. This is aimed directly at startup businesses in need of fundraising, but the message is valid to all businesses.
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08 December 2008
The opinions as to whether or not one should protect their intellectual property are vast and varied. Let’s take a look at both sides of the issue, the pros and cons:First let’s start with the pros:
If you have a business idea, one unique to the industry you choose to compete in, protection is vital. Whether it is a logo, slogan, or even a phrase, the uniqueness of a business is a key to its survival in today’s global business market. That uniqueness will help to thrust it past the competition, even better at times than a solid marketing campaign.What would Google be without its trademark name? Critics may say to a startup, there is nothing to protect. Something so simplistic matters little to the overall picture. Well they would be wrong. As simplistic as an idea may be and look, it is the very heart of Google and has changed little since its inception.Read the rest of this entry »
25 November 2008
Wouldn’t everyone love having a T-Rex-size nest-egg under their mattress when starting a new business? A few million, a few hundred thousand, heck, even a few thousand would make a world of difference. In today’s economy, you’ll be hard-pressed to live your dreams without any sort of tribulations, however minor or severe they may be. Potential business owners, you’re definitely not alone in the dark here; there are a few ways you can get funding for your business. All you have to do is be prepared.Why do you need a lot of startup capital? Well, you’re going to need marketing, inventory, facilities, expenses, and money set aside for an infinite list of variables. Cash flow is very important. This isn’t to say you can’t start small or even with no budget, but for the sake of this blog we’ll talk about those ideas which do require startup funding.
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07 November 2008
In the realm of business, countless measures are taken to ensure success. From risk assessment to feasibility studies, people work tirelessly to implement various strategies that give any particular venture the best odds for survival. If you’re asking yourself what a feasibility study is, it’s very easily defined. Simply put, feasibility studies are groundwork investigations into the prospective benefits correlated with undertaking a particular activity or project. A feasibility study’s main goal is to take into account all conceivable factors associated with a task, and then determine if the time and other resources invested will return a wanted result. Most feasibility studies are highly detailed and fully examine every plausible angle. For these reasons alone, conducting a feasibility study is undoubtedly in your best interest. However, the decision to carry out a study is one that should never be taken lightly. You will have to invest a lot of time and a lot of money into your study. Conversely, not implementing a feasibility study can prove to be infinitely more damaging due to expenses and time lost recouping a loss. It’s always in your best interest to make the best possible use of a feasibility study. You’re going to need a clearly defined course of action consisting of multiple business models or scenarios that you want to explore.
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06 November 2008
One of the key elements when you are starting out in business is to be certain that what you intend to do, is clear and concise. After all if you don’t know what your service or product is, how do you expect to sell it?So how does desire help in determining what you want out of your new business? Well everything that gets created starts out as a thought in someone’s mind. Whether you are applying already found knowledge or ideas in a new way, or you are starting from scratch with a brand new invention, it all starts with thoughts.This is where you can falter right at the beginning if you do not realise that what you think about, you will ultimately create. This can work both ways because if your thoughts are not well founded, your product or service will also suffer.Getting yourself thinking in the right way is the first step to creating the desire with which you will use to power your energy into the creation process.
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27 October 2008
The term “dog eat dog” is a gross understatement when applying it to small businesses. A mind boggling fact: 80% of all small businesses will fail within the first few years of operation. This is a very sobering statistic, even if you’re not trying to run a small business. When you open it up and examine what a small business is, you find that it’s truly the life-force driving a capitalist environment. Excessive greed aside, small business is a staple of any solid economy, and more should be done to ensure they do not fail. But, fail they do, and in no particular order, the top-5 reasons small businesses sometimes don’t make it...One: No niche is a bad niche. Some businesses have trouble developing a customer base. These “niche” markets are essential in the success of any business, big or small, and whether you have an online business or run a land-based institution, having a customer niche is important.
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