I am very pleased with the blog results last week. Most of you were able to post your comments without incident and many of you approached the issue from different perspectives. Keep up the good work!
However, there were a few students who plagiarized, perhaps without knowing. Remember to give credit when you use someone else’s work, and use quotation marks when you state someone else’s work word by word or with minimal changes. In addition, many of you expressed your opinions but forgot to back them up with facts. In the future, comments lacking supporting facts will not receive credit.
With regards to the increase in GDP of 5.7% for the 4th quarter of 2009, once you remove the change in private inventories, the real final sales of domestic product is only 2.2%. Restocking of inventories contributed 3.5% to GDP growth in the 4th quarter of 09. As expected, business inventories tend to increase as the economy comes out of a recession. Nonetheless, a 2.2% increase in GDP is in line with sustainable economic growth in the United States. When you consider the decline in government spending during the 4th quarter of 09, the rise in GDP must be credited to the consumer. Of course there were some government incentives that contributed to the increase and we will have to see if the consumer can continue to carry GDP growth over the next few quarters once government incentives begin to wane and inventories return to historical averages.
On a different note, productivity, or change in output per hour, was up 7% in the 4th quarter following increases of 8.1% and 6.9% in quarters 3rd and 2nd, respectively. Good for business, bad for unemployment since employers were able to get more out of every worker; and therefore, delayed hiring new workers. Consequently, the 5.7% increase in GDP did not result in a significant decline in the unemployment rate. However, over time, each worker reaches his or her maximum potential and further increases in GDP will result in new employment.
Furthermore, the unemployment rate declined during the month of January to 9.7% from 10% in December, and the broader measure that includes discourage workers fell to 16.5% from 17.3% in December. Historically high numbers, but it seems that unemployment has remained stable since last summer. And again, if GDP continues to grow at a modest pace, once productivity is maxed out, unemployment should go down.
As a business student, think about the opportunities this economic environment offers new businesses. With unemployment close to 10%, what kind of product or service can a new business offer in this marketplace? Be creative, think outside the box.
Hint: If you got a chance to watch the Super Bowl game, did you notice the commercials?
As a business student, I can see and think of many different opportunities in this economic times. One great idea is to sell goods online, especially electronic gadgets. Watching the super bowl commercials, last Sunday they were advertising the new Vizio flat screen TV with computer application to customize your daily life! Also the new TV Flo which with prescription you can take your portable hand able TV anywhere even carry on you ,maybe your back pocket or purse! So open an online website and sell goods to the world, and be more independent business student!
If I was a new business owner in the marketplace today, I would offer quality products for a reasonable price. I would try to sell my product for the least amount of money possible, but still try to make money on it. One way I would try to keep my prices down would be to buy in bulk to get a cheaper price. Therefore, I could sell the product cheaper. I would try to offer incentives, buy two or more and receive a discount. I would also try to keep my advertising to a minimum to keep my expenses down. I would also try to have the least amount of employees as possible. I would offer online shopping with free shipping. Even if I had to raise the price of the product a few dollars, I would do so to offer free shipping. Myself, as a consumer, free shipping is what grabs me when I am making purchases online. I would try to cater to the economy and offer the fairest prices. I would also do my best to have great customer service. Regarding the Super bowl commercials, I think they tried to keep their advertising simple and fun.
With such a historically high unemployment rate, there are going to be a historically high amount of people looking for jobs. Places like monster.com, careerbuilder.com, dice.com, and other businesses that specialize in job searching will benefit the most from this inopportune time. There are also a few industries that do not necessarily suffer during the economic downturn. Some services or products people will always have to use regardless of whether or not they do have a job. Some examples that I can think of right now are health care, tobacco sales, alcohol sales, and car insurance. Centers of education will also do well since layoffs will cause people to undergo training for an alternative employment.
In this case I will have to agree with Matt. That places like monster.com, careerbuilder.com, and any other businesses that specialize in job searching but can’t think of them at the moment that benefit people out of work at this time. For careerbulider.com it give you ways to help you find a job in your field if they can. Like foe a example to find a job you type in the keyword like sales, location like Boston MA or the zip code, and the last box is careers by cateory like accounting. Then they allow you to narrow the search by giving you the category, company, city, and state. They even let choose when employer’s last posted like within the last 30 days up to last 24 hour. Yes, I do agree with Matt on the career sites.
As a part owner of a clothing company named “Noize Clothing” there are many things that one could do in order to save money, as well as be original and catch the consumers eye. In 2009 we purchased approximately 250 shirts ranging in an assortments of colors. This helped us keep the cost down and it provided vibrant colors ( which was a subliminal message to get people to look at the shirt) IE a green shirt with yellow lettering would attract the consumers eye. Also within the company we have started to implement deal on tee-shirts, 1 for 10 or 2 for 15. One other thing the company has done in order to reduce prices on tee-shirts is that they have found a new screen printer. This helps save costly dollars at the end of the year sales. As far as thinking outside the box and finding the consumers, you can find Noize Clothing on Facebook, MySpace, Twitter, Flicker, YouTube, linked removed and its the First search result through Google search engine. With all of these things combined it helps us keep the cost down for the company it self, and all of its consumers. With new marketplace’s being formed with more online products, it’s clear making the decision to put our product online was a smart idea in order to find consumers.
In the economy that we are experiencing at this moment, not many people are willing to take risks in the business market, which is a huge opportunity being that there are less competitors, but there is also a huge margin for failure. The business has to provide needs and service that are in demand to be able to survive in the industry such like career searching companies because of the unemployment rate being so high these past years. Many companies like Amway Global or Mary Kay could benefit from these tough times because people can become Sole Proprietors and sell products from their home while also profiting from the sales themselves. Also, it is a good time to start a well-planned business in this type of economy because everyone out there is looking for money, meaning that you can negotiate with a lot of companies to settle for less, and that also goes with hiring employees. Finding a job is extremely difficult now-a-days that people with settle for a margin of their prior salary even though they have a high skill level in the field. That will decrease expenses, therefore generating more profit. Business is ALL about RISKS.
The question is “what kind of product or services can a new business offer in this market place”?
With the total umemployeed rate of 16.7 % per The U.S. Dept of Labor there is a need “for job training in high growth industries , such as clean and renewable energy, healthcare and biotechnolgy industries”.The Dept of Labor recently announced the top rated sites General Job Boards, Niche Job Boards, Career Tools, and Social Media Job Searchs.”
Two of the top General Job Boards advertised recently during the Super Bowl, Monster.com had it’s “Fiddle a Friend” ad with a beaver playing the fiddle and CareerBuilder .com had it “Casual Friday” ad.
In this enviorment there are opportuities for job training sites funded by government training grants and for job placement companys.
Today’s market is in very tough shape, but their are some opportunities for businesses. Watching the Super Bowl I noticed that there were many ads from businesses like monster.com and careerbuilder.com, which are businesses that help people find a job that is right for them. The opportunities that this economy offers businesses are job placement or job training. A business where someone can pay to be trained in a field that they would like to start a career and the business gets the paying customers the jobs they want. This would help the economy by lowering unemployment and people would pay for help finding a job and when these people have been put in the job that is right for them, then these people will succeed because they were trained the right way.
As a bisiness student I can think of a few ideas to be successful in these economic times. Services could be a great bisiness, the busy pepole who are at work don’t have time to maintain there house holds. Out in the work force, workers are doing more for less money or the same, so time is very valueable. A bisiness to help pepole with agonizing chores around the house might take off if priced right. Such as cutter cleaning, snowplowing, lawnmowing, bush trimming, house hold painting, any odd job that home owner dread doing on there day off from work.
As a business student and hopefully a future business owner this economic environment offer new opportunities to start or to keep your business running like the president Obama stated on his discussion on February 3, 2010 about small business that they have increase the SBA loan during the cores of this year by 70%, But the president also stated the to get the loan you going to have a business plan that works. Also another way to keep your company running is by going green now over half of the united state is going green with their products. For example if you go to greener buyer on their web site you could buy product like plastic free water bottles, water powered calculator and other green product that you think will help you. Some business investor invest in other company like in the New York time stated that Nestle a milk product establishment since 1905 is going to make a investment to a coffee plant in Mexico city. Some other product that business offer are in the ad that they put out like for example some company will offer 50 % or 25% on their product , also company offer some sort of insurance or guaranty. So there you have it some product and services that companies should offer you in this market.
With 10% of the population unemployed (Bureau of Labor Statistics) and filling for unemployment, people have to start being creative when it comes to extra cash. Business are much more short handed with their employees and these employees have a heavier work load in order to save there business from hiring new employees and making a heavier salary expense. People who are unemployed can rely on businesses that allow you to work out of your house on your own time. An example of that would be Mary kay or Avon. This allows you to earn extra cash. Also, unemployed people who are always out looking for jobs can try out the website monster.com or craiglist.com. I noticed during the superbowl there were many comercials about monster.com and careerbuilder.com. These are websites designed to help you find a job. They have many helpful ways to narrow down your search. It is no secret that Americans are stuggling to find jobs and earn money.
As a business student, I believe there are several opportunities that this economic environment has to offer new and old businesses. For example, Pepsi had commercials for the past 23 years consecutively during the Super Bowl and decided to promote itself by giving away $20 million in grant money to fund projects in six categories: health, arts and culture, food and shelter, the planet, neighborhoods and education, Pepsi thought that giving back to the surrounding community was more beneficial than spending $12 million on two 60-second spots for the super bowl (Time: Pepsi Skips Super Bowl TV Advertising for Social Media). Also, last month President Obama offered businesses a $5,000.00 tax credit for each new employee they hire this year (CNN Money) this will allow new business to grow by adding employees. Finally, I think that new businesses that are just starting out could benefit from hiring people who have been laid off that have years of business experience that would not normally be available to the job market. I strongly believe that a new business can offer opportunities such as advertising their product or service by helping their surrounding community, hiring people who are unemployed, and new businesses can tap into the unemployment list and hire people who may have the experience which could lower the unemployment rate and drive the economy back up, but only time will tell.
One opportunity the current economy has on new business is the decrease in property value this allows new businesses to buy property instead of leasing it. This saves businesses money because they own the land and building and are not only avoiding paying rent they also avoid making improvements that are only benefiting the landlord when the tenants leave this is known as triple net. I feel that the most effective forms of advertisement today are word of mouth and social networking this helps your business because you don’t have to pay for advertising. These economic times cause many consumers to pinch their pennies so as a producer one needs to meet their needs by having fair prices and have incentives on popular items
As a business student, I would have to first observe. I’ve been out there and trust me, it’s ugly. People are pinching pennies so tight these days you can hear Lincoln screaming. These are great conditions, however, to start a business only after great planning. I noticed in a few blogs above people just want to sell things and make people happy. A good business to get into is things that don’t cost much to operate, tend to, hire for. After observing, I have realized that people still go out and do the bare minimum. I don’t want to start throwing around percents, but think about the percentage of people that washes their clothes regularly. Great!! People wash clothes. Not everybody has a washer and dryer at home though, that’s why they make laundry mats, but they are run.
There are a lot of people out there doing these things already. Not so much advertising is needed for laundry mats, people go to whatevers closest, but what about something that needs to be advertised.
Personally, I’d like to open a bar on a mountain somewhere in Colorado. My clientele are just skiing up and down waiting for 1:30 lunch and a winter lager or dinner at the end of the day, some dry clothes and a night to forget. If there’s anything Superbowl commercials did was prove america loves to drink.
With the unemployment rate at a ridiculously high percentage, there are few items that many people would want to purchase. However, as a business student I have to use everything and anything to my advantage. The new brand Zhu Zhu Pets did exactly that. They manufactured a cheap and exciting gadget right around Christmas time. These robotic hamsters sold out and were at an exceedingly high price on eBay. The company found their market and kept the consumers budget in mind. This new brand created jobs and put money in peoples pockets. Simple things like this help the economy grow. For those who do not have young kids, the Super Bowl showed many opportunities for businesses with their commercials. The commercials advertised careerbuilder.com and monster.com. These two websites help people finds the jobs that best qualify them. With more and more people logging in to use these websites to find jobs, the more employed people we will have and the more the unemployment rate will drop!
With unemployment rate close to 10%, many people are looking for jobs or trying to improve their skills. As people look for new jobs or skills websites like careerbuilder.com and monster.com will be more in demand because of the unemployment rate. These websites help people find jobs. I also think that it will be great to have more organic products at a less expensive price. As we know the obesity rate in this country is growing fast and people need to eat healthy. According to the first Lady Michelle Obama, 1 out of 3 children are obese in this country; this is causing them to have serious health issues at a very young age. Parents always complain that there are not enough organic foods available, or they can not afford them. By producing more organic foods it will also create more jobs. If businesses decide to make these products available and affordable to everyone, they will have to hire more workers for the field work and for selling them. If the businesses hire more workers our economy will get better and it will also help decrease the unemployment rate. As a business student I think it will be a great idea to have a business where you can find these healthy products at a reasonable price.
With the unemployment rate at 9.7% it would be a great opportunity for a new business to provide services to the unemployed obviously. Business like resume building,career services and discount online retail stores are a great opportunity during this recession. Child care services also comes to mind especially for single mothers that are looking for a job. The Unemployment rate for single mothers is at 12.3% compared to 5.8% for married women.These are all great opportunities that this economic environment offers.But I believe these opportunities are not sustainable after our economy rebounds.The first opportunity that comes to mind that has sustainability and caters to any economic environment is the health and wellness market.In fact according to a survey conducted by International health,racquet and sports club association,”people are likely to go to the gym more often during a recession”.The unemployed often lose their health insurance and oftentimes cant afford medical coverage. People are realizing the value of staying healthy and preventive care through nutrition and exercise reduces medical cost.Affordable fitness clubs, vitamins and alternative medicines are products that can do good during this economic downturn. Health and wellness also taps into the baby boomers wallets and their obsession to stay healthy and look younger as they approach retirement.Products like Botox and wrinkle creams are great business opportunities as well.
With the unemployment rate at almost 10% I see several opportunities for business. I agree that companies like monster.com and careerbuilder.com are ideal. Also, giving career advise or counseling are extremely helpful to the unemployed. These types of businesses are doing very well in this type of economy. They are also enabling people to put money back into the economy by getting them back on their feet after being unemployed.
With the unemployment rate becoming stable once again, as long as the new products come in, chances for newer job opening become larger. If i where to think of a product to help increase in consumer spending and create jobs in the US, would be a phone built upon the android operating system(developed by Google based on the Linux kernel) that would rival the iPhone. Now a days everyone has an iPhone. If a phone that could sell just as much or even more, was assembled in the US the amount of jobs would increase as well, consumer spending will increase and so would our exports which is usually at a low compared to other countries, which wouldn’t be bad if we bumped up by a percent or two.
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As we have learned in the past week, the two generations that spends the most money are the Tweens and the Boomers, so the likelihood of the business to succeed in financial difficulties would be one that would attends the needs of those who have the money to purchase their products. A new brand with a new look for kids could easily benefit from this because most average Tween shop at the same brand stores so if someone comes up with a new brand for Tweens and advertise it well, that could easily be the next new hot thing to wear. The Boomers in the other hand wouldn’t be so interested on cloth, but they would be interested on a vacation. If someone came up with the idea of creating the perfect senior vacation hotel in Florida they would make a big profit from it because most elderly always want the nice warm weather to sit back and relax with no aggravation or kids running around, and there would be nothing better than to go to an environment where they would feel comfortable at. So if I was to open up a new business I would try to sell to one of those two generations so I could make the most profit possible.
As a Business student I think that new business should do something to create more jobs. New business should come up with the product which will need more man power than computers. For Example: Day care centers can lower the prices and more parents will be able to pay which will make day care centers to hire new people. I think that jobs have to be created in every field because one single field can’t lower the unemployment rate. Therefore, starting online businesses such as site to find new jobs, online selling, taking laundry from people’s houses to wash at lower price, car wash, the other thing I have noticed is tutoring which could be online and in classes for low prices. People have to come up with new ideas and techniques to make the economy better and to lower the unemployment rate.
As a business student finding out that the unemployment rate had falling from December to January was a good thing. However there is still more that can be done to help the struggling economy. One way to help the struggling economy is to listen to what a consumer needs and wants. A person might need a particular item, but can not afford it, what a business can do is look at competitors and see if there is any way they can lower the price so a consumer can buy it. One way to lower the price is to advertise by word of mouth. It would benefite a local business rather than to advertise on line or by a tv commercial. I know that as a consumer and a business student it is always good to see that both large and small business companies are listen to my wants and needs.
With unemployment close to 10% a new product that could help people find job would strive in this economy. Also, a product that is revolutionary yet in a price category to fit mosts needs would strive because it would hit a lot of market sectors. For example, a new business that could come out with a software for phones, that not only helps you look for available jobs but also sends your resume automatically to business fitting your capabilities. I think a program that could keep people continually connected with their job search would help people find jobs. Also, a new product that could change everything as we know it, would force people to HAVE to buy it, therefore creating jobs in production. The last way that a new product could help unemployment is investing in green energies. If our country was to shift to doing everything in a green way this would create new jobs in building the factories and it would also create long term jobs in the people who work inside of them.
I think an opportunity that this economic environment offers new businesses is a chance to work together with other existing businesses in their community. I have been observing my boss, who has just recently opened a new small business next to his existing business, and he recently went to other well known businesses, big and small, in the area and made them deals that if they pass out flyers with coupons for money off a purchase from his new business, he would pass out flyers and business cards for them and every recommendation they make he’ll give them coupons too. He went to local grocery stores, big name banks, friendly dry-cleaners, restaurants and day cares and they all agreed to help get the name of his business out there because in return he would help them. This move will hopefully bring business in because people trust what they know and businesses in their community’s opinion. The more customers come and spend money, the more people my boss will hire and in return we will help out the businesses that helped us and people that need jobs. During this recession all businesses, old and new, need help and if they work together they will be able to gain business and hire more employees.
I think in this current economic environment , one of the best new business ideas is probably to start up a franchise.The top five, according to WSI are, Subway, McDonalds, 7-Eleven Inc., Hampton Inn/Hampton Inn and Suites, and Supercuts, these are all businesses that provide an economically thrifty product,that in a bad economy would have a great chance of surviving, also with unemployment rates at 6.1 percent, people will be searching for job security,which entrepreneurship will be likely to provide,especially with already proven systems at well known franchises,with good credit and positive cash flow,possibly due to a nice severence package,I feel a franchise is a good business start up idea in a suffering economy.
Because of the high unemployment rate in the United States, people are struggling to find jobs and businesses are not able to do well. In this economy people have to buy only what they can afford, and affordable prices are important to how well a business can do. People are also wanting and being encouraged to become more healthy and active because of the high obesity rate. Businesses that help people with their health and wellness such as gyms, organic food stores, and raw cuisine restaurants are becoming more popular. I believe that if these types businesses were able to sell their products and services at an affordable price for anyone, they would be able to extremely well in this economy.
Watching the Super Bowl one can see that the commercials were advertising items that two specific groups; the “tween” age group, and the young to middle aged male group. Things like snack foods, portable televisions, and cell phones were things that “tweens” would want and eventually convince themselves they need. The godaddy ads, bud light, bridgestone and dockers commercials are aimed at males, trying to show that this will improve their life. If people were trying to start a business they would want to aim their product at one of these two groups. “Tweens” have a disposable income and according to the St.Louis Today men are shopping more than before, they a will be eager to by a new product if the new company was able to market it right.
Due to the current high unemployment rate in the United States, it has become difficult for people to keep their jobs and to even find jobs to support themselves or their families. While watching the Superbowl commercials I noticed that there were many commercials that advertised websites like monster.com and careerbuilder.com, which are websites designed to help people search for different jobs that are available and different jobs that are available for specific career fields. I believe this is because of the current unemployment rate in our country. It is good to see commercials like these because it helps advertise to people that there are places they can go to get help and advice regarding unemployment. In order for businesses to succeed in this economic environment they need to find a need for certain products and fill that need. If I was a business owner in this economic environment I would try to find a niche that would make my company different from the rest of the competition. I would try to sell good products with reasonable prices and make sure that I had excellent customer service so that customers would want to come back. The current economic recession has got people and business owners struggling to stay afloat, however with hard work and people working together, businesses will be able to survive and get more business and be able to do more hiring.
As a business student, I think surveys and advertisements are a productive way to start a new business. I think online surveys benefit businesses, consumers, and the economy in several ways. Websites such as surveyclub.com and getpaidsurvey.com allow survey takers, the consumers, to get paid for their opinion. Market research is a huge part of this industry. Businesses want to know how they can improve their goods and services and come up with new ideas. Once they come up with another product or service, they can hire more people. The survey takers benefit because they get paid and can spend the money on new goods and services. This will also help the economy become more stable with people spending more money.
Unemployment rates recently have provided an economic indicator to many new fields of businesses, those which provide both products and services. As for the Superbowl commercials, there was an unsurpassed amount of commercials regarding employment-aiding businesses, including monster.com careerbuilder.com. The rise in use of employment-based resources & services, such as those websites mentioned above, is not necessarily aiding our economy. Though these types of services are booming in today’s economy, unemployment is still high, and less jobs are available than, say, ten years ago. The most profitable of businesses are those which concern employing citizens of the U.S, like monster.com. Businesses which offer the help of finding jobs for unemployed citizens are going to be most profitable and helpful while the unemployment rates are high.
If I were to open a business in today’s economy, I would seriously consider the other people that have been unemployed. What job is most desired because of the lay offs? It would would benefit the people so that they will buy will my product or choose my company. It would also benefit the people who have lost their jobs. Pretty much the only jobs available are part time jobs at fast food restaurants and places that pay very little, or at least not enough to support a family. Business owner should think about opening up more jobs for people instead of replacing people. The more people who have jobs the more they can branch out and buy more company products.
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Pondering about a great idea to obtain financial power in the business industries,i can not help but wonder about an internet website dedicated to selling the most demanded exclusive sneakers and clothing trends. I would target urban communities and most important , i would target young urban children as well as young men and woman who have a passion for urban exclusive materials. Networking is vital so in order for such a plan to emulate i would have to network through designing fliers that would be eye stalking catching the buyers gaze as if it were there first elementary crush. I would have to network in such urban areas as well as put up adds in popular other urbsan clothing sites to introduce my vision. I feel a company can stand out through such competitors if the networking is unique and different introducing a different approach to advertisment
As being both a business student and working as a bartender to pay for school I take in a lot of what people have to say with current affairs such as the tough economy. One thing patrons always ask is “how is business going lately?.” My only reply is that people may not be working as often but they sure are still drinking plenty. The change seems to be in the brands and quality in liquor people drink. The New York Times reports that brands such as Popov vodka which is sold at around $10 a fifth grew 5.5% in sales in 2009. Top shelf brands such as Grey goose which go for $30 and up for a 750 ml bottle plummeted in 2009 by 5.1%. Coming up with a quality spirit for an inexpensive price would be the key to a new business venture’s success in today’s economy.
With the current unemployment rate up to about 10%, if I were to open a business I would focus on creating an online resume builder. This would be a great business to own in this economy because so many people are out of jobs and could use the site to help the get back on track. Creating the website itself would open up jobs to people who would want to help run and maintain the site. The opening of more online companies like this may make a noticeable improvement for the unemployment rate. In today’s current economy, I think websites that help create resumes would succeed greatly.
What people understand is that private consumers and business or any consumer is putting all the risk to the market and to the government. The risk that we are talking about is going to be in trouble “economy”. We see that government does spend more money than last year, than the year of 2008. But this time the expense that the government give out is too, valuable to the consumer.To be able to drop the number of unemployment and to the government need to spend on the consumer, unemployment and students. The secondary market start to spend more than before because we will starts to see the business is growing and run through the market. People start to have more jobs and more job and it mean that people will spend more of their money and it will make our economy get better.
One of the best things a hiring company can do right now is to post their job listing through a headhunter service, like Monster.com. The Bureau of Labor Statistics reports the unemployment rate is at 9.7%, which is 133.916.000 unemployed Americans, aged 20 and up. This increase means that employers are starting to hire back people. The obvious thing for a hiring company to do is to look for help where the help is also looking. So, one of the easiest ways to look for work is search through monster, and related headhunter web sites.
Very similar to television spots on television around the time of noon to six p.m they are targeted towards people who are either unemployed or not working towards an education, many commercials include local college’s that are telling viewer’s to go get a degree, this is similar to what advertisements were presented during the Super Bowl. The main television spots were job search engines, like Monster, or Career-builder, which shows the we are aware of the increase and unemployment, and thus spending more money to get the word out to convince citizens to find a job, which in time will help our economy out even more.
From working in an industry where the only product that we offer to the customer is our service, which is delivering packages to people all over the world on a tight schedule. I think taking advantage of starting a new business in this economy you don’t just offer the customer a product you offer them your services. And in this day and age you have parents who work all day long and even seven days a week and don’t have a chance to do any chores around the house. Which is why it would be perfect to start a business that does not only yard work around the house, but could clean inside the house as well. And i believe that this would take off because many of people may need a helping hand with all that they have going on in their lives and will be willing to pay if we offer our service at a reasonable price. This will also help many of people obtain jobs through our service, which would help out the unemployment rate.
From the high unemployment rate students coming out of college will want to be looking for good ideas for a small business because large business are get more work out of less employees. The Wall Street Journal said “About a quarter of the 8.4 million jobs eliminated since the recession began won’t be coming back and will ultimately need to be replaced by other types of work in growing industries, according to economists in the latest Wall Street Journal forecasting survey” The future isn’t looking good either “unemployment rate to only fall to 9.4% by the end of the year—down from 9.7% in January” said Izzo from The Wall Street Journey. Therefore, starting a job after college would be ideal instead of searching for job after job. I believe a business to start would have to leave the product out of it and start a service. Such as a local restaurant this will help locally with unemployment.
With the unemployment rate sky high and jobs continuing to disappear I believe the new trend we will see in employment will be with online jobs. GoDaddy.com, for example is a domain registrar that allows companies to move from store locations to the internet and products to be ordered without the consumer ever leaving home. They also make it simple for anyone who might have an idea for a website to get that site up and running and maybe even eventually profitable. According to the IAB (Internet Advertising Bureau), the internet is a place that generates billions of dollars annually in advertisements alone and that number has been steadily growing since 2000. With help from websites such as GoDaddy and an internet marketplace that is ever expanding, we will see many jobs in the future go from office or blue-collar work to the comfort of ones own home.
Getting educated in alternatives to pharmaceuticals and producing holistic services of healing is a virtually untapped market. With health care being such an issue having a cheaper healthier choice to get better and maintain health is becoming more and more appealing, especially being so close to a “new agey” city like Salem. I have been taking an Herbal Pharmacology class at Northshore and from two weeks of class alone I’m convinced i could create and market affordable products to heal yourself and succeed in doing so. The key is to combine cheap materials into something of value.
With unemployment at 10%, a new business could offer several services and products in this marketplace. As a business student, and many others alike, I feel I have some ideas that would be great offers and services. For example, online shopping is now HUGE! There are several services I would offer for Online Shoppers, such as discounts, and offering reloadable cards. I got the idea for reloadable cards from Diana Ransom from the Wall Street Journal, and think it’s a great idea. Diana Ransom States, “Like Starbucks, small business owners can also consider offering shoppers reloadable prepaid cards. For a reloadable card that gets processed through Visa’s Prepaid Load Network, a cardholder’s financial institution is required to pay a retailer’s financial institution 5 cents each time a card is reloaded. Other fees are up to the card issuer. While some issuers may not charge any transactions fees, usage fees such as low-balance charges and inactivity and load fees may fall to consumers.” I feel she is correct in what she is saying, and I support her ideas. Discounts are also a great advantage for online shoppers. Diane Ransom also states, “Not only is this practice more palatable for the card networks, federal law actually allows merchants to provide discounts for cash purchases…” With my internet online shopping I would love to have discounts and prepaid cards because they are great privilages to have. This makes the online shopping world more popular than going out to the store to purchase items. To me, Americans are quite lazy and having online shopping is a wonderful business investment.
With unemployment being close to 10%, the ideal thriving businesses right now are online job search engines. Sites like monster.com, and careerbuilder.com, which both had ads during the Super Bowl, are excellent places for unemployed people to find jobs. Americans are lazy, and the ability to search and apply for jobs without actually driving from business to business is ideal for our population of lazy unemployed adults. Online job sites also offer the ability to make your resume look professional, which is a large source of their income. Sites like monster and careerbuilder also make a killing off advertisements. When it comes down to it, the internet has a large opportunity for business advancement, and if someone was looking to start a profitable business in this economy, the internet would defiantly be an ideal place to do so.
Nowadays, every possible business and/ or jobs are out there. So that, with this economy and the high unemployment rate of 9.7% it is difficult to come up with a new idea of a business that would actually be successful. However, we are still able to take someone’s idea and use it but change it a little. For example, iTunes as you know have these cards of loaded music that you can buy from target, their store or online, but sometimes they only offer you certain songs or they are too expensive. Then this made me think of a new way to sell music. One could create mix playlists of popular new and old songs or songs of a certain genre or artist and sell them all together at a lower price than what iTunes offers. And this will be a way to help the consumer to save and for you to gain money.
Since Unemployment rate is so high and increasing we need a way to motivate people into doing those job that we might not have token when the economy was boosting. What I mean is if someone get fired from a high paying job they have been working for about 15 years say making over a hundred thousand a year. now your jobless and de motivated cause you know if you get a new job there not going to pay you the same amount that you were making. Or what if you can’t find a new job? The field where you started working has change drastically over that last 15 years and maby now you lack the skills to get another job . The company can hire someone half you age with a greater skill level and make more than half they were paying you. what would you do if you were the employer hire an old unskilled worker or a young high skilled worker.
What kind of product or services can a new business offer in this market place? I think all the webpage are changing traditional business models ( The Internet Commerce) will give rise to a new kind of business. One of the most important are the Advertising Model such as Portal like yahoo.com, Classifieds such as Monsters.com and Craiglist.comp;User Registration such as New York Times. Query-based paid placement such as Google.com. All of these types of advertising are improving new ways of business in this market places. That’s why many people dont want to take risk in this place and they use webpages to sell their services, because sometimes are free.
In this economic state, I would want to sell a service or product that is needed on a regular basis. Some of these things could be as simple as food, cloths, transportation and housing. I see a lot of the postings before this one mention companies like careerbuilder.com and monster.com, sure, for the people running those companies business is great but for the person going on there and posting there resume, are they aware that for every job openning there are 6-10 people interviewing any giving day. I would argue that this is a good time for young entrepreneurs to invest in the fields I mentioned before. In my profession, wedding videography and photography, I’m lucky because people are always getting married so I maintain a steady, if not heavy workflow. As long as I maintain and increase the quality of work, I can guarantee myself a solid year of work. Of course, my success was created with the right educational and 9 years in the field.
After watching the super bowl commercials i think a couple companies will benefit from the commercials. Today there is a 10% rate of unemployment in the united states. Watching the monster.com commercial and career builder commercial i think will help some unemployed people. These business help unemployed people find a job in specific areas where they have skills they know how to use. I think these business successfully decided to advertise at the perfect time and will benefit from it but will also help people find jobs too.
As a business student, I can think of a variety of products and services. One would be to start a website like E-bay; An E-Bay with lower rates. Another E-Bay website would create jobs for civilians. It would give more tax money to the Federal Government. More people working will make unemployment decrease. I would definitely consider starting a website to help the economy. Sorry, no chance to watch the Super Bowl.