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Simply Services Small Business Newsletter |
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Small Business Dashboard
Bexar County, State of Texas & United States
Main Article
We all have to make decisions. We make decisions that impact our family and our careers. But when it comes to small business making decisions can have a huge impact. While large corporations can make a decision and write off the consequences, small businesses do not have that luxury. Any decision could be critical to the future of the small business.
Sometimes comparing two or more products or vendors can be difficult. Which is the better deal? Who has a better reputation? Who has more features? It can be overwhelming to make the best decision. One tool that can be used is a decision matrix. A decision matrix is basically listing out your criteria, seeing which product has them and weighing their importance. Like anything you can go overboard but it's best to keep it simple. You can use Excel or just create columns and rows on a sheet of paper. Across the top list the products you are considering, in the row list the criteria or features of each product. You can assign a weight or value to each feature. Score each feature using a scale like a five point scale with five being the top score. You would then multiply the score times the value assigned to get a weighted value for each feature. Add up the weighted values for each product and you get a total which should help you better determine which product has the features you need. Below is an example of a decision matrix: We have listed out criteria or features and have weighted each one. Cost is assigned a five because it is very important to us. Likewise color is assigned a one because it is not critical. We scored each feature on a five point scale for each product and calculated the weighted value. We added up the weighted value and see that Product B is our best choice. This tool can help small businesses and can be applied to any decision making need and help avoid costly decisions. Thanks for your interest and we hope to continue to have meaningful conversations. |
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Small Business News
Three interesting small business items from the last week have been Aetna pulling out of ACA, how seniors are staying in the workforce via small business ownership and LeBron James has a new show where he gives small business owners in Cleveland a chance to realize their dreams. Click to read more and access a handy ACA compliance and cost saving guideom Reuters. Click on the link to read the article: Article Link |
Money
CAN Capital's 2016 Small Business Health Index reveals that 64% of small business owners expect growth in the next 12 months. The survey also found that small business still face significant challenges. Click on the link below to read more. Click on the link to read the article: Article Link |
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Technology
Uber has disrupted transportation with its ride sharing but now they are taking the disruption one step further. Before the end of the year Uber will introduce self driving Volvo's in it's Pittsburgh market. Click on the link to read the article from Bloomberg. Click on the link to read the article: Article Link |
Trends
Bill Dunkelburg is Chief Economist for the National Federation of Independent Business since 1971, Dr. Dunkelberg is a nationally known authority on small business, entrepreneurship, consumer behavior and consumer credit and government policy. Click on the link to read the article: Article Link |
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Tips & tools
Jim Blasingame has spoken to many business owners and conducted over a thousand interviews. Most recently Jim was asked his thoughts on what makes a small business owner successful. Click on the link below to see his thoughts. Click on the link to read the article: Article Link |
The coming future
Self driving cars have gone from the realm of science fiction to the introduction of autonomous vehicles by Uber in Pittsburgh. As accidents are reduced it will shrink the auto insurance industry. Read the article which explores what impact this may have and what the insurance industry may look like in just a few years. Click on the link to read the article: Article Link |
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Interested in getting your small business name out and supporting The Simply Svcs Small Business Newsletter, call 210-737-5059
Interested in getting your small business name out and supporting The Simply Svcs Small Business Newsletter, call 210-737-5059
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