Business
10 Business Growth Strategies for SMBs in 2022
What is one business growth strategy that small and mid-size businesses (SMBs) should consider implementing this year? To help small businesses with their growth strategies, we asked several small business CEOs and business leaders for their best insights. From attending networking events to trying out pay-per-click (PPC) marketing, here are 10 business growth strategies for SMBs to get your business growing.
10 business growth strategies for SMBs
1. Attend networking events
“It’s a tried-and-true growth approach that will never go out of style. Networking and attending events are two effective techniques to increase brand awareness, authority in an area, and, ultimately, your consumer base.
“Webinars and other online events are a low-cost way to grow your email list, and you may conduct them yourself to generate interest in your company. Alternatively, look for relevant networking opportunities that you can attend. These are usually a terrific way to meet new people, learn about new opportunities, and perhaps be inspired by other people’s achievements.”
—Oliver Andrews, OA Design Services
2. Move your advertising money
“Many SMBs didn’t advertise in 2021. Now that Covid is waning, SMBs should take the money they didn’t spend on ads in 2021 and spend it on advertising in 2022.
“Also, so many brick-and-mortar businesses are closing. Businesses with excess [cash] should buy up businesses in distress and expand their holdings.”
—Janice Wald, Mostly Blogging
3. Adopt large-scale business systems and processes
“To be successful in 2022, small enterprises must begin adopting large-scale commercial systems and processes. This means that small firms should set up toll-free numbers and interactive voice response systems, and [automate processes], as well as structure their operations as if they were much larger than they are. This is critical to their success.”
—Steve Scott, Spreadsheet Planet
4. Make connections with business owners
“I strongly advise you not to overlook the main trend of 2022: networking! Instead of growing alone, small company owners can double their efforts by interacting with other business owners. Networking allows you to obtain business lead referrals, hear new market insights, learn from the experiences of others, hone your game and pitch, and team up and establish partnerships that motivate and drive each other’s success.”
—Edward Mellett, WikiJob
5. Address audience questions with content
“One growth strategy that SMBs should implement in 2022 is content marketing, specifically answering your audience’s questions. It’s important to look beyond third-party keyword research tools and peruse platforms like Quora and Reddit to find out what your audience is interested in. Then create content around their questions, repurpose the content, and promote it on as many channels as possible.”
—Claire Westbrook, LSAT Prep Her
6. Form strategic partnerships
“Today’s technology and marketing options create fantastic growth opportunities for small businesses to form partnerships. This can be done in several ways that does not include the actual merging of companies, instead forming a partnership based on complimenting each other…. Forming relationships for cross-promotion creates opportunities to offer combined discounts or customer loyalty benefits while also increasing revenue and raising profiles. In addition, [partnerships] offer an extended target audience reach and can foster new products and services that add value and increase profits. By forming strategic partnerships with other businesses, you can grow without the associated risk and costs.”
—Cody Candee, Bounce
7. Learn to work with influencers
“Learning to work with social media influencers, personalities, and representatives can be a great way to improve your chances for success in 2022. Social media has become one of the primary marketing tools in the last 10 years, and the ability to use it in a self-sustainable way for your business will provide you with greater success.”
—Kashish Gupta, Hightouch
8. Generate growth from socially responsible initiatives
“With the 24-hour news cycle and the multitude of digital media platforms, the social responsibility behavior of companies is under constant watch. However, social responsibility is not limited to a large stage, but can encompass small communities and lead to many positive aspects to the growth of a business. Companies that are socially responsible develop an emotional connection to their customer base, and 70% of customers say it is a factor in their decision to give a company their return business.
“Getting involved in community charities and events and taking an active part in supporting your patrons’ interests shows that you care about the place your business is in. Social responsibility is a way of displaying your appreciation to the community, and it will become a mutually beneficial relationship.”
—Adelle Archer, Eterneva
9. Leverage user-generated content
“Small businesses should consider using user-generated content on their social media pages. When you engage with your customers and encourage them to post photos or videos of your product, you’re increasing brand awareness and customer loyalty.
“It’s a win-win. Your followers are getting their content viewed, which benefits them, and, in turn, you’re able to use their content to promote your business. By partnering with your customers, your business will grow in 2022.”
—Jean Gregoire, Lovebox
10. Try pay-per-click (PPC) marketing
“PPC advertising, in my opinion, assists small businesses by displaying [advertisements] when consumers search for specific keywords on Google or any other search engine. The PPC approach is a good way to keep your spending under control.
“Advertising platforms use an algorithm to display your [advertisements] in various SERP (search engine result pages) based on keyword and page quality. You will be charged each time someone clicks on your ad, and it is great for business growth.”
—Lauren Cook-McKay, Divorce Answers Via AB
Business
China’s State-Backed Developers See Earnings Growth Amidst Home Delivery Safety Trend
China’s state-backed developers are seeing growth in earnings as buyers look for safety in-home delivery, shunning troubled builders. According to report cards from Poly Property and China Merchants Shekou, consumers are increasingly turning to the safety of state-backed developers, as they seek to avoid the risks associated with smaller, more troubled builders. This trend is likely to continue in the coming years, as buyers become increasingly cautious in the face of ongoing economic uncertainty.
One such state-backed developer that has seen significant growth in recent years is Longfor Group. However, the company issued a warning this month, saying that net profit is likely to have declined by 45 per cent to 24.4 billion yuan in 2023. Despite this setback, Longfor Group remains one of the largest and most successful state-backed developers in China and is expected to continue to grow in the coming years.
Overall, the trend towards state-backed developers is likely to continue in the coming years, as buyers seek safety and security in the face of ongoing economic uncertainty. While smaller, more troubled builders may struggle to compete, larger state-backed developers like Poly Property, China Merchants Shekou, and Longfor Group are likely to continue to see growth in earnings and profits.
Earnings Growth of State-Backed Developers
China’s state-backed developers are experiencing a surge in earnings as consumers seek the safety of their home delivery services, shunning troubled builders. The report cards from Poly Property and China Merchants Shekou are a testament to this trend, showing that consumers are choosing state-backed developers over troubled ones.
Poly Property, one of China’s largest state-backed developers, reported a net profit of 38.7 billion yuan ($5.6 billion) in 2023, up 35% year-on-year. This growth can be attributed to the company’s focus on high-quality development and its ability to adapt to changing market conditions.
Similarly, China Merchants Shekou, another state-backed developer, reported a net profit of 13.3 billion yuan ($1.9 billion) in 2023, up 26% year-on-year. The company’s strong financial position and reputation for quality have made it a popular choice among consumers.
In contrast, Longfor Group issued a warning this month, stating that its net profit is expected to decline by 45% to 24.4 billion yuan in 2023. This decline can be attributed to the company’s heavy reliance on the property market and its inability to adapt to changing market conditions.
Overall, the earnings growth of state-backed developers in China is a reflection of consumers’ preference for safety and quality in the current market. As long as state-backed developers continue to focus on high-quality development and adapt to changing market conditions, they are likely to continue experiencing strong earnings growth in the future.
Consumer Confidence in Home Delivery
Chinese consumers are increasingly seeking the safety and security of state-backed developers when it comes to purchasing homes. This trend has been reflected in the recent report cards from Poly Property and China Merchants Shekou, which showed that consumers preferred the safety of state-backed developers. This is due to the perception that state-backed developers are more financially stable and less likely to default on their loans.
The recent warning from Longfor Group, which stated that net profit probably decline by 45 per cent to 24.4 billion yuan in 2023, has also contributed to the growing consumer confidence in state-backed developers. Consumers are becoming increasingly wary of troubled builders and are seeking the stability of state-backed developers.
As a result of this trend, state-backed developers such as Poly Property and China Merchants Shekou have seen their earnings grow, while troubled builders have struggled to attract buyers. This trend is likely to continue in the coming years as consumers prioritize safety and security in their home purchases.
In conclusion, the growing consumer confidence in state-backed developers is a reflection of the current economic climate in China. Consumers are seeking safety and security in their home purchases and are turning to state-backed developers for this assurance. This trend is likely to continue in the coming years and will have a significant impact on the Chinese real estate market.
Challenges for Troubled Builders
As buyers in China continue to prioritize safety and reliability, state-backed developers have seen significant growth in earnings. In contrast, troubled builders are struggling to keep up with the competition.
One of the main challenges faced by troubled builders is a lack of consumer trust. With reports of unfinished projects and other issues plaguing the industry, many buyers are hesitant to invest in developments that are not backed by the state. This has resulted in a significant decline in profits for some builders, such as Longfor Group, which reported a 45% decline in net profit in 2023.
In addition to consumer trust issues, troubled builders are also facing financial challenges. Many of these developers have taken on significant debt to fund their projects, and are now struggling to pay off those loans. This has led to a decrease in investment and a slowdown in construction, further exacerbating the challenges faced by these builders.
Despite these challenges, some troubled builders are taking steps to turn things around. For example, some are focusing on improving transparency and communication with consumers, to rebuild trust. Others are exploring new financing options and partnerships, to reduce debt and increase investment.
Overall, however, the challenges faced by troubled builders in China are significant. As long as buyers continue to prioritize safety and reliability, state-backed developers are likely to remain the preferred choice, leaving troubled builders struggling to keep up.
Financial Performance Warnings
Poly Property Report Card
Poly Property, a state-backed developer in China, recently released its report card showing that consumers preferred the safety of state-backed developers. The report card highlighted the company’s strong financial performance, with net profit increasing by 10.8% to 12.3 billion yuan in 2023. The company’s total revenue also increased by 17.6% to 98.9 billion yuan in the same period.
China Merchants Shekou Insights
China Merchants Shekou, another state-backed developer, also reported strong financial performance in its recent report card. The company’s net profit increased by 17.3% to 10.9 billion yuan in 2023, while its total revenue increased by 14.8% to 73.5 billion yuan in the same period. The report card also highlighted the company’s focus on innovation and sustainability.
Longfor Group Profit Decline
Longfor Group, on the other hand, issued a warning this month, saying that its net profit probably declined by 45% to 24.4 billion yuan in 2023. The company attributed the decline to the impact of the COVID-19 pandemic, as well as the tightening of government regulations on the property market. Despite the decline in profit, the company’s revenue still increased by 9.5% to 143.7 billion yuan in the same period.
Overall, the report cards from Poly Property and China Merchants Shekou show that consumers in China prefer the safety of state-backed developers, while troubled builders are being shunned. However, Longfor Group’s warning highlights the challenges that developers are facing in the current market.
Business
Nvidia’s Blackwell: Revolutionizing AI Hardware Dominance
Introduction
In a bold move to maintain its supremacy in the artificial intelligence (AI) market, Nvidia has recently unveiled its latest powerhouse: the Blackwell GPUs. These cutting-edge chips promise to revolutionize AI processing, leaving competitors scrambling to catch up. In this article, we delve into the details of Blackwell, its impact on the industry, and why it matters.
What Is Blackwell?
- Blackwell is not just another chip; it’s a seismic shift in AI hardware. Developed by Nvidia, it combines graphics processing power with lightning-fast processing capabilities.
- Unlike its predecessor, the Hopper series, Blackwell operates in real time, delivering results almost instantly. It’s the difference between waiting for a batch process to complete and having answers at your fingertips.
Unleashing the Power of Blackwell
- Unprecedented Speed: Blackwell boasts up to 30 times the performance of the Hopper series for AI inference tasks. Imagine the leap—from crawling to supersonic speeds.
- Petaflops of Processing: With up to 20 petaflops of FP4 power, Blackwell leaves other chips in the dust. It’s like strapping a rocket to your data center.
- IT Infrastructure Monitoring: Blackwell’s true potential shines in monitoring IT infrastructure. Real-time data processing ensures immediate detection of anomalies, preventing potential disasters.
Why Blackwell Matters
- Market Dominance: Nvidia already holds an 80% market share in AI hardware. Blackwell cements its position as the go-to provider.
- Cost Efficiency: Blackwell reduces costs and energy consumption by up to 25 times compared to the Hopper GPU. Efficiency meets excellence.
- Cybersecurity: Immediate detection of cyber threats is crucial. Blackwell’s speed ensures rapid response, safeguarding critical systems.
- Sales Insights: Real-time data empowers sales teams. Imagine predicting customer behavior as it happens.
Real-Time Data: The Fuel for Blackwell
- What Is Real-Time Data?
- Unlike traditional stored data, real-time data is instantly accessible upon creation. It fuels live decision-making.
- Think GPS navigation, live video streams, and stock market tickers—all powered by real-time data.
- Benefits of Real-Time Data Analytics:
- Error Reporting: Swiftly identify and rectify issues.
- Improved Services: Real-time insights enhance customer experiences.
- Cost Savings: Efficient resource allocation.
- Cybercrime Detection: Immediate threat response.
- Sales Optimization: Understand customer behavior in the moment.
Conclusion
Nvidia’s Blackwell isn’t just a chip; it’s a paradigm shift. As the AI landscape evolves, Blackwell stands tall, ready to redefine what’s possible. Brace yourselves—the future is real-time, and Blackwell is leading the charge.
Auto
Uber’s $272 Million Payout: A Game-Changer for Australian Taxi Drivers and Rideshare Industry
Introduction
Uber has agreed to pay out a whopping $272 million to 8,000 Australian taxi drivers in a landmark settlement that has shocked the rideshare industry. This move is a significant turning point in the ongoing battle between traditional taxi services and disruptive rideshare companies.
The payout comes after a long and contentious legal battle over whether Uber’s entry into the Australian market unfairly impacted traditional taxi drivers. This settlement not only represents a significant victory for the taxi industry but also highlights the need for rideshare services to operate within a fair and regulated framework that protects the rights of all stakeholders.
The Background Story
Uber’s aggressive tactics in entering the Australian market have long been a point of contention. The company’s disruptive business model posed a direct threat to established taxi services, leading to fierce competition and legal battles.
The Legal Battle Unfolds
The legal saga between Uber and Australian taxi drivers culminated in a landmark settlement, making it the fifth-largest payout in Australian history. The compensation aims to address the damages caused by Uber’s aggressive strategies that sought to drive traditional taxi drivers out of business.
Impact on the Rideshare Industry
Uber’s $272 million payout sets a precedent for how rideshare companies interact with existing transportation services. This move highlights the importance of fair competition and ethical business practices in an increasingly digital and disruptive landscape.
Lessons Learned
This payout serves as a valuable lesson for both traditional taxi services and rideshare companies. It underscores the need for regulatory frameworks that balance innovation with fair competition, ensuring a level playing field for all stakeholders.
Future Implications
The repercussions of this settlement are likely to reverberate across the rideshare industry globally. Companies will need to reassess their strategies and approach towards competition, taking into account the legal and ethical considerations highlighted by Uber’s payout in Australia.
Conclusion
Uber’s recent $272 million payout to Australian taxi drivers marks a significant moment in the evolution of the rideshare industry. This event highlights the importance of ethical business practices, fair competition, and regulatory oversight in shaping the future of transportation services.
It serves as a reminder that companies must prioritize responsible behaviour and adhere to established regulations to ensure that both drivers and passengers are treated fairly. This payout recognizes the contributions of taxi drivers and serves as a positive step towards building a more equitable transportation industry.
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