Post about "Small Business"

Business Process Consulting – Consulting to the Small Business Owner

Why are small businesses such a powerhouse in the economy?One of the ingredients is that successful small businesses are run by people with passion. Small business owners believe in what they are doing, and they love doing it. They are brimming with ideas.At heart, most small business people feel that they were born to make a difference in the world – to make the world a better place. The small business owner is obsessed with succeeding in making that difference and reaping the rewards that they deserve for both themselves and for the people around them.They do what it takes to make something happen – the long hours, the heartache, the joy, the desperation, the failure, the success and the elation. These people experience the full range of human emotion in the pursuit of their dream. They are the true believers.How then can the small business consultant contribute to the small business owner’s success?The answer is that the small business consultant must know how to help the small business owner learn to think strategically and thereby gain clarity, focus and direction. Such results are possible only when the consultant keeps three critical factors in mind:- While passion is often a key ingredient, a small business cannot run on passion alone- The small business person must make good strategic decisions- A successful small business person works hardA Small Business Cannot Run on Passion AlonePassion is critical in small business, but it must be channeled and directed. Single-minded focus is gained only by going through a deep thinking, soul-searching process that delivers a clear sense of Mission, Vision and Values.This process must occur at the personal level and then be reflected in the business itself, through words that spell out the Mission, Vision and Values in easily understood language.These words become the primary essence of the business. For the small business person, these statements spell out their beliefs and assumptions about their business and inform everything that they think, say and do.Every morning, when the successful small business person gets out of bed, it is with a real sense of purpose, namely, to fulfill his or her Mission.Their Mission, Vision and Values are well understood within their business, and they are the critical clauses of the employment contract that everyone in the business signs up for.Mission, Vision and Values inform and shape all business policy development and the processes and measures that are put in place to ensure disciplined execution.Making Good Strategic DecisionsOnce the value base of the business is defined, it must be aligned with good strategic decisions.Strategy Formulation is critical for success in small business. It is the thinking that this exercise generates that delivers high performing action, sustainable outcomes and lasting results.The effective small business consultant takes the small business owner through a process of thinking that ensures that the nature and the direction of the business are fully understood. The critical issues for action are identified and priorities are set.Agreed actions must then be written down, so that they cascade from the strategic level to all the operational streams of the business. Everyone in the business must know what part they play in achieving the strategic goals.Remember, small business people are energized by the demands put on them in the moment. This is because they are people of action. However, this can be a problem when they are under too much pressure. They can become overwhelmed by the clamor of present demands, and they often fail to have a planned approach.Working to a well constructed small business plan, based in good strategic thought and decision making, relieves the pain of the frenetic pace and worries of the day to day.By paying attention to the important things that further their strategic goals, the successful small business person gains the right perspective on immediate and urgent sounding distractions. Business development and risk management are all addressed, when the small business owner works to a plan.One of the important things that the small business person must have clear in their minds is everything to do with their customers. They must know who they are. They must know what they need. They must know where they are and how they are going to be reached. They must know their own capabilities in being able to deliver what their customers want.They must know the gaps in their own business that must be addressed to achieve high yielding results.When all their capabilities are analyzed at depth, the small business owner has the information he or she needs to make the decisions that will secure the future of the business. The small business consultant must ensure this is the case.A Successful Small Business Person Works HardWhen the small business owner is clear about his or her Mission and Vision, and is behaving in keeping with a well defined set of values, hard work is not an issue. Working to a well conceived plan generates sufficient enthusiasm that even small gains become immensely gratifying.Quality of thinking, combined with good decisions and focused action, evoke the work ethic that creates momentum and delivers outstanding results. Small business owners are energized and become even more motivated when they are in touch with their own value base.They feel in control when they have a good plan in place that they can work to. This is because they are paying attention to the right things, in the right way, and they can see that they are making progress.Passion, aligned with good decision making at the strategic level, puts them in control of their business and makes them feel alive. It puts them on the path of never-ending improvement, both personally and in their business.

S&P 500 Rallies As U.S. Dollar Pulls Back Towards Weekly Lows

Key Insights
The strong pullback in the U.S. dollar provided significant support to stocks.
Treasury yields have pulled back after touching new highs, which served as an additional positive catalyst for S&P 500.
A move above 3730 will push S&P 500 towards the resistance level at 3760.
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Pfizer Rallies After Announcing A Huge Price Hike For Its COVID-19 Vaccines
S&P 500 is currently trying to settle above 3730 as traders’ appetite for risk is growing. The U.S. dollar has recently gained strong downside momentum as the BoJ intervened to stop the rally in USD/JPY. Weaker U.S. dollar is bullish for stocks as it increases profits of multinational companies and makes U.S. equities cheaper for foreign investors.

The leading oil services company Schlumberger is up by 9% after beating analyst estimates on both earnings and revenue. Schlumberger’s peers Baker Hughes and Halliburton have also enjoyed strong support today.

Vaccine makers Pfizer and Moderna gained strong upside momentum after Pfizer announced that it will raise the price of its coronavirus vaccine to $110 – $130 per shot.

Biggest losers today include Verizon and Twitter. Verizon is down by 5% despite beating analyst estimates on both earnings and revenue. Subscriber numbers missed estimates, and traders pushed the stock to multi-year lows.

Twitter stock moved towards the $50 level as the U.S. may conduct a security review of Musk’s purchase of the company.

From a big picture point of view, today’s rebound is broad, and most market segments are moving higher. Treasury yields have started to move lower after testing new highs, providing additional support to S&P 500. It looks that some traders are ready to bet that Fed will be less hawkish than previously expected.

S&P 500 Tests Resistance At 3730

S&P 500 has recently managed to get above the 20 EMA and is trying to settle above the resistance at 3730. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

If S&P 500 manages to settle above 3730, it will head towards the next resistance level at 3760. A successful test of this level will push S&P 500 towards the next resistance at October highs at 3805. The 50 EMA is located in the nearby, so S&P 500 will likely face strong resistance above the 3800 level.

On the support side, the previous resistance at 3700 will likely serve as the first support level for S&P 500. In case S&P 500 declines below this level, it will move towards the next support level at 3675. A move below 3675 will push S&P 500 towards the support at 3640.