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Mindset

2018: The Year That E-Cigarettes and Vaping Go Mainstream

vaping

vaping

E-cigarettes and vaping is one of the fastest growing global sectors, with a recent Research and Markets report estimating that by 2021, the global vaping market will be worth 32.11 billion USD. This level of growth is all the more impressive when we consider the fact that seven years ago, vaping and e-cigarettes were a fledgling industry, seen by many as a niche product that would quickly fade into obscurity.

Now, though, we’re living in a very different reality. Sales of e-cigarettes, both in America and abroad, have gone through the roof. In light of these enormous developments for the sector, there’s reason to believe that e-cigarettes and vaping are highly likely to remain one of the fastest and largest-growing business sectors in 2018. Here’s a closer look at how e-cigarettes look set to become a household name over the next 12 months.

Growth into the American Market

One of the key factors that has driven the growth of the vaping industry is its expansion into the American market. The growth rate of e-cigarettes and vaping products is largely due to its increasing popularity across the North American market and especially in the USA, according to a new report by Beige Market Intelligence.

This growth builds on e-cigarettes’ already established position in the British business market. In Britain, approximately 12 million adults currently smoke cigarettes and 2.6 million use vaping products. Of those 2.6 million, 700,000 have completely switched from traditional cigarettes to vaping, while 1.3 million regularly use both tobacco and vapour products.

Although the value of the traditional tobacco cigarette market remains much larger than that of the e-cigarette and vaping industry (weighing in at about 20 times larger), the e-cigarette market in the UK is still currently valued at $1.16bn (£913m) in 2015 but predicted its growth would reach $5.67bn (£4.46bn) by 2021. Additionally, the UK Vaping Industry Association (UKVIA) has stated that retail sales are worth around £600m, with the positive influence of public health bodies providing an important boost.

This trend has been replicated in the US. In June 2016, an in-depth report by Bloomberg found that the US e-cigarette market is now the largest in the world, with Americans buying more electronic cigarettes and other vaping products than anyone else on the planet. Plus, as more traditional Big Tobacco companies, which are predominantly American, make the move into the e-cigarette business, we can expect this trend to continue.

Driven largely young entrepreneurs

One of the most remarkable features of this notable growth of the e-cigarette sector is that it has been driven primarily by younger entrepreneurs, who have been able to predict and respond to the needs of customers.

Smart businessmen and women on either side of the Atlantic have quickly established themselves as experts in this trend. Whether it’s the owners of successful e-cigarette manufacturers, developers of a flourishing online business such as Electric Tobacconist, or managers of brick-and-mortar vape shops, many have not just capitalised on the vaping boom, but have contributed positively to it, too.

According to the 2015 Vape Shop Index, released by ECigIntelligence, Roebling Research, E-Cigarette Forum and the Smoke-Free Alternatives Trade Association (SFATA), U.S. brick-and-mortar vape shops generated annual non-online sales of more than $300,000 per store. The index also found that 69% of the vape shop business owners were independent single-store owners, while 16% owned two shops and 15% had three or more stores.

These findings overwhelmingly indicated that the trend that has already been observed in the UK: that the majority of these highly successful vape shops are owned by small, hard-working businesses that make enormous contributions to the economies of both countries.

Although it is impossible to know for certain the direction that the e-cigarette and vaping industry is going to go in 2018, we could hazard a guess that the combination of hard-working small businesses and demonstrated consumer interest in the sector are going to make for a powerful, successful combination.

Pascal Culverhouse is the Founder and Managing Director of The Electric Tobacconist USA, where vapers will find all the major American vaping and e-liquid brands with a price-match guarantee. Pascal started Electric Tobacconist Ltd in July 2013 to compliment his seasonal family business, and after proving so popular and successful, he left the family business and has found himself with a growing number of staff and seven-figure turnover.

Public Health England’s new harm reduction approach to decreasing smoking rates across the UK has not only been widely accepted Dan Marchant of Vape Club says: “The NHS advocating vaping as an alternative to tobacco is an enormous breakthrough and will do an outstanding amount of good for public health and tobacco control in the UK.

Mindset

How To Stay Ahead Of The Curve And Thrive

mindset

mindset

In business, surviving is not good enough. Keeping your head above water so to speak suggests your business is a disaster waiting to happen so you’ve got to change what you’re doing so your business gets a different result.

Clearly if you have started the year believing your business is in ‘survival mode’ right now, it’s most likely behind the curve and you’ve lost control of its destiny, so it’s time to do things differently so you gain back the control.

What Does Staying Ahead of The Curve Mean?

Ahead of the curve or phased another way ‘ahead of the pack’ is an idiom or set phrase.

A more detailed definition of an idiom is, it is a group of words that have a figurative meaning as opposed to a literal definition.

Essentially ‘ahead of the curve or pack have the figurative meaning: you’re out in front, i.e. leading. Relating to business, the products, services etc are better than competitor offerings.

Clearly this is the perfect position for your business to be in. You’ve got something that’s better than the competition however this doesn’t mean your business automatically succeeds.

Having the world’s best products or service is the perfect starting point, but if at the same time they’re the world’s best kept secret, your business is not likely to succeed and thrive.

Operating a business requires a plan, systems, processes, strategies and great people.

Leadership

Stepping into the leadership role and driving the business in the right direction falls on your shoulders as the business owner/operator.

If being a leader is not for you, don’t persevere in the role, hire someone more suited to taking calculated risks, and asserting control of the operation.

The creator of leading edge products may start the business however they can only take it so far. Their skillset usually doesn’t extend to executive leadership and failure to let go of the operations is why so many small businesses fail with the first few years.

Mindset

When a business is stagnating, change is needed. Continuing to take the same actions and getting the same results will likely drown the business if not immediately it will happen, so there’s a chance you’ll be in denial for while, and even feel optimistic that it’s turned the corner. However without an injection of inspiration and change, the end is nigh. Therefore fight any resistance to change starting with your mindset.

Adopting a ‘growth mindset’ that motivates productivity is key and it’s likely injecting the business with external resources is also required. The saying: you can’t teach an old dog new tricks is likely to apply to you, with the right professional input, you’ll break those hard and fast habits for the business.

In this article these areas of change promote the right mindset to focus on putting your best foot forward so your business does an about turn and eventually gets ahead of the curve and thus it’s main competitors.

Be Extraordinary, not Ordinary

Fight the desire to follow everyone else. Focus on where you want your business to be i.e. leading, not following. Set your one standards and live by them and them alone. To do so effectively you’ll need to set up some key measurements in place so you know you’re on the right track.

Objectives

Start with defining the key objectives of the business. Use the four Ws and one H i.e. what, where, why, when and how. To leave nothing to chance, remember to aim BIG.

If your objectives are to achieve the same as your competitors your business won’t be ahead of the curve, so that’s not good enough. You reap what you sow so go for it and surprise yourself with your new ‘take over the world’ attitude.

Do everything better

To do better you need to analyse what’s been happening in the business up to now. There will be some parts that are working well and they will need just tweak or two to improve their performance. That’s the easy part. 🙂

There will be major change required in the poor performing areas and this is where you need to use your external resources i.e. consultants, or mentors who are not emotionally tied to the business.

Implement the changes and deal with the resulting initial fallout with the help of your new operations leader or leadership team (internal and external stakeholders).

Now Own It

Now is the time to ‘own it’. Dominate the market and keep going. Remember to review your progress and keep refining your processes and systems. Good luck and let us know how you’re doing in our comments area.

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Mindset

Worried about tricky job interview questions? Here’s how you can nail them!

MBA for Entrepreneurs

MBA for EntrepreneursSo you have meritoriously cleared the first screening round and have been invited for a face to face interview?

Firstly, congratulations on landing a job interview in this competitive job scenario, but the real test of your ability is yet to commence.

The Interview

With the growing need for securing a position in a reputable organization and the dearth of relevant skills and knowledge, the recruitment process especially the interviews are becoming increasingly tough to crack. The questions are no longer straightforward, “so elaborate me in this skill of yours?”, Instead, they have evolved and taken a more practical form.

The severity of interview questions depends on the industries, but there are specific reasons behind interviewers shooting tough questions:

  • This way they measure your experience level and expertise in the skill that you have mentioned in your resume;
  • This helps them analyze your body language and thought process when met with extremities;
  • This also helps them gain a better understanding of your personality.

But just like the tough and tricky questions, there are crafty ways of answering them. In our today’s post let us discuss some common tricky questions and how to answer them tactfully:

Q: What has been your greatest achievement so far?

Interviewers ask this question to gauge upon your values and how is your attitude towards problems. This way they observe what you can bring to the table and how can you contribute to the organization’s goals. The Interview board is looking for candidates who can fill the gap with their practical experience. Hence tailor your answer that best demonstrates your expertise with skills in equal measure.

Q: What is your weakness?

This is one of the trickiest questions, answering which without giving any thought could land you in a soup as it might reveal your shortcomings. Remember not to mention any of the skills that are required in the position you are hopeful of. A similar question they can ask is, “Do you have any regrets?”. Articulate your answers in a manner that it shows that you are self-aware but are also working on your being better day by day.

Q: Why are you leaving your present company?

The immediate answer of most candidates for this question is, throwing their current company under the bus for whatever negative experience forced them to leave it. But we would suggest you prepare for it if that is the case. Maneuver your answer so that it implies that your experience in the present company is fulfilling, but you’re looking for a greater playfield to enhance your skills and expertise. If you are being laid off, be honest and say that instead of bashing your previous employer.

Q: Explain the gap in your work history?

Unless you have explicitly mentioned in your resume that you have utilized your skills in those gap years, be prepared to get pressed on this subject by the interviewer. It is advisable to stay honest but also refrain from talking foul of your previous employer. Emphasize how the knowledge gained in your gap years will add value to the position you have applied for.

Q: How do you react in the face of failure?

Another way of asking the same question, “Are you willing to fail?” Although your immediate response would be “No” because to say yes would be to put your proficiency in a suspicious state of not being up to the mark. The contention behind asking this question would be to judge how to retaliate in tough situations and what would be your thought process in the event of a failure?

A smart way to answer this question is by acknowledging the importance of failure in helping you become a better person and then quoting examples of events where you have failed and learned a lesson from it and how that lesson will help you add value to the position and organization you are interviewing for.

So instead of sitting worried about the interview, we would suggest you brainstorm and come up with creative sometimes funny answers that you can reply to the interviewer. Just like it is not necessary that all questions will be tough; similarly it is not essential that all questions are going to be easy.

Like they say always prepare for the worst, a candidate should always stay prepared for whichever questions, easy or tough, where the aforementioned list will be of assistance.

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Mindset

How to Start a Resume Business to Help Others Succeed

working at desk

working at desk

Do you have a knack for writing resumes? Are you the person your friends always turn to when they need help beefing up or reworking their resumes?

If so, you may want to consider starting a resume writing business. A resume business involves helping others create their resumes from scratch or rework their resumes for a set fee. 

You may work with anyone from waiters to engineers to business executives. And, the best part is that you get the satisfaction of knowing your services helped someone land their dream job

So, where do you get started?

Read on to learn how to start a resume business to help others succeed. 

Do the Necessary Housekeeping Involved in Starting a Business 

First things first, you’ll want to get some of the boring stuff out of the way. That is, you’ll need to take care of all the housekeeping that comes with starting a business. 

Here’s what should be on your initial checklist to start your business:

  • Create a business plan: Consider your initial startup costs, your target market, and how long it will take for your resume business to break even
  • Register your business: Be sure to check with your Secretary of State about any licenses or registrations you may need
  • Register for taxes: There are a variety of state and federal taxes you will need to register for before you open your business
  • Open a business bank account and set up business accounting
  • Get business insurance

While these tasks certainly can feel tedious, you’ll be thanking yourself later on for taking care of them right away.

Promoting Your Resume Business 

The best resume writing services spend a lot of time promoting and marketing their business. 

Word of mouth can certainly be a great place to start, but after a while, those leads will dry up. 

In order to get the word out about your services, you will first want to create a website. Here you can share a little bit about yourself and your qualifications, and you can also list your services and rates. 

It’s also a good idea to create social media profiles on Instagram, Twitter, and Facebook. You may even want to consider starting a Youtube channel where you create short videos about writing the perfect resume. 

You will also want to create some simple marketing materials to start, such as business cards and flyers. 

Lastly, it’s a good idea to get in touch with local staffing agencies, as they can often refer you to job seekers who need help creating resumes. 

If you’re struggling to get clients, it can also be beneficial to offer your services for free so you can get some samples and references on your website. 

Get the Right Credentials 

People will take you much more seriously as a resume writer if you have the right credentials. 

Joining professional associations is a good way to demonstrate that you are qualified to write resumes. Two associations you’ll want to consider joining are the Professional Association of Resume Writers and Career Coaches and the National Resume Writers’ Association

Are You Ready to Start Your Resume Business?

As you can see, starting a resume business takes some work. However, once you get the ball rolling, things will be much easier and you’ll soon be able to focus solely on finding and helping your clients. 

If you have any questions about starting a resume business, leave a comment below. 

And, be sure to check out these 5 content marketing ideas that can bring traffic to your resume website. 

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