Forecasting, Futurecasting and Measuring–it’s Your Business

Woot!  It’s here.  Did you check your email?  The May/June edition of the Saponifier is ready for download.

 

With its emphasis on futurecasting, you’ll find this issue very informative as you learn to negotiate business.  Tamara Dourney jumps right in with her article,  An Introduction to Predictive Analytics:  What is Futurecasting?  She describes Predictive Analysis and all of the concepts and terminology involved.  Embrace it and you’ll find yourself able to see where you are now, identify what your customer base wants, and how to provide it at lowest cost and in the least amount of time possible.

 

Marla Bosworth and Jennifer Kirkwood expand on the theme with their article,  How to use Forecasting to Spot Trends and to Develop Products.  Being small means being nimble, or the ability to watch for trends and to jump on products that meet those needs and wants.  This is something that is extremely difficult for large companies to do, but not small ones.  Stay ahead of the pack!

 

How do we find out just how well we’re doing?  Well, besides the obvious measure of money in the bank account, each business should follow the advice that Alexander Sherman doles out in,  Measuring Returns.  Teaching us how to calculate ROE (Return One Equity) and ROA (Return on Investments), Alexander shows us that we can judge how efficiently our businesses are using the capital that we pour into them.

 

If one of the trends you spot is candlemaking, check out Beth Byrne’s, Book review:  Candlemaking for Profit.  This no-nonsense treatise written by famed candlemaker, Robert Aley, is a gem when it comes to starting a candlemaking business.  You’ll want to find out why and how to get your copy.  Actually, if you’re planning to start any handcrafted business,  you’ll find value in this book.

 

Are you a technology maven?  You’ll be sure to enjoy, Web 3.0, by Cindy Noble.  Even if you aren’t among the tech savvy, you’ll enjoy learning about the new version of the internet–yes, there are versions!

 

Until next time, happy reading.

 

Beth Byrne

 

 

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