Archive of March, 2020

March 16, 2020

According to statistics published in 2019 by the Small Business Administration, about 20 percent of business startups fail in the first year. About half succumb to business failure within five years. By year 10, only about 33 percent survive.

It’s not enough to just deliver what you delivered last year. There is no normal anymore. To evolve and grow, keep in mind the following:

  • Disruption is the new normal. No matter your business, assume that it will be disrupted by a trend, technology, consumer or competitor. Pay attention to what your current or future customer will need and begin to test or offer that service or product now. Disrupt yourself before someone else does.
  • Niche expertise becomes more important. As ecommerce and services become more competitive, you will need your product or service to have specific capabilities or expertise. For example, rather than offering accounting advice, consider services related to the coming transfer of wealth from baby boomers to their Gen X or Millennial children.
  • Remote work. With competition comes higher costs. Consider hiring a talented remote employee without the resulting overhead expenses.
  • Data analytics are becoming critical. The hidden value of your company is the data it generates or the data you can acquire to better understand your customer. How do you know what to offer your customers next if you don’t really know what problems the customer is really trying to solve?
  • Automation/outsourcing of redundant tasks. How much of your employees’ time is spent on redundancy or repeating their tasks each week/ Outsource or automate those tasks and have employees focus on increasing your current customer service levels or generating new sales.
  • Population is aging. Over the next 15 years, 70 million baby boomers will hold tremendous financial and real estate wealth. Most will want to spend their wealth trying to live an amazing life as they try to avoid death. Analyze the research data on this group. What product or service can you offer them to help them achieve their goals?

 

SOURCE: forbes.com, 2/24/2020

March 16, 2020

Whole books have been written about how much practice athletes need to succeed at the highest levels, but if it’s not paired with sufficient sleep, even 10 million hours of practice won’t help. Sleep reinforces motor skills learning, and sleep in the initial 24 hours after training seems especially crucial—a finding that led researchers Matthew P. Walker and Robert Stickgold to propose that “It’s practice, with sleep, that makes perfect.” After an afternoon working on your tennis serve, golf swing, or swim stroke, you need a full night’s rest to make the lessons stick.

March 16, 2020
March 16, 2020

Elementary and middle school students in Bandung, Indonesia, have been spending too much time with their smartphones, according to Mayor Oded Muhammad Danial, who has come up with a clever distraction. Authorities recently began distributing 2,000 baby chicks in cages with signs that read: “Please take care of me.” Students will be required to feed their pets before and after school and can keep them on school premises if they don’t have space in their backyard. Danial said the chick project, dubbed “chickenisation,” is part of a larger endeavor by President Joko Widodo to broaden...

March 16, 2020

Another diver has snapped a rare photo of Inspector Clouseau, the world’s only known pink manta ray.

First spotted lurking in the water off Australia’s Lady Elliot Island in late 2015, the 11-foot male fish – cheekily named for the detective in the “Pink Panther” franchise – has been glimpsed only a handful of times since. So rare are the sightings that the photographer behind Clouseau’s most recent close-up, was certain the ray’s coloration was because of malfunctioning camera equipment.

March 16, 2020
  • DJI Osmo Mobile 3 

This motorized smart-phone stabilizer can dramatically improve the quality of your camera-phone videos, eliminating unintentional jiggles. The gimbal’s arm can also flip quickly between portrait and landscape orientations. $119, store.dji.com

  • Langogo Genesis 

This hand-held translator device uses advanced AI and noise-canceling microphones to provide amazingly accurate translations of 105 languages and dialects. $299, langogo.ai