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Book Review: Small Business Answer Book

Book Review: Small Business Answer Book

    A book review by Reg Adkins. Small Business Answer Book (John Wiley & Sons, Inc. 2003), by Courtney Price.

    Since 1997 Courtney Price has written at least 5 books. Most of the books deal with business and management.

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    If you are well established and profitable in your business this book probably is not for you. But, if you have yet to make the leap to join the growing number of entrepreneurs or you are a fledgling business owner this is a good place to start.

    I particularly liked the third chapter of the book which examines the advantages and pitfalls of buying and existing business. This chapter breaks out a list of what danger signals to look for when buying a business.

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    1. Inadequate market potential.
    2. Serious competitive problems.
    3. Technological problems (for example a company that makes 78 rpm records would be technologically obsolete in all but the most narrow niche markets).
    4. Disadvantageous cost characteristics (an example would be if a competitor has a distinct cost advantage over you, like he not only sells the item but manufactures it as well).
    5. Seller backing out (this is particularly the case when you are negotiating to buy a family owned business that the owner has significant emotional investment in).

    Price also does a fair job of pointing you in the right direction to look if you are interested in buying a business. There is nothing earth shattering or particularly creative about it. It is just a list of sources you may have considered anyway. The benefit being the list is already compiled in one place for you.

    My favorite part of the book is the 12 page appendix. It does a good job of compiling a list of many of the small business resources you may need.

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    All in all, if you have just started, or are getting ready to start a new business this book is worth the $15.00. If you are well established and already profitable, buy your spouse a box of chocolates instead.

    Reg Adkins writes on behavior and the human experience at (elementaltruths.blogspot.com).

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    Last Updated on September 28, 2020

    How To Study Effectively: 7 Simple Tips

    How To Study Effectively: 7 Simple Tips

    The brain is a tangled web of information. We don’t remember single facts, but instead we interlink everything by association. Anytime we experience a new event, our brains tie the sights, smells, sounds and our own impressions together into a new relationship.

    Our brain remembers things by repetition, association, visual imagery, and all five senses. By knowing a bit about how the brain works, we can become better learners, absorbing new information faster than ever.

    Here are some study tips to help get you started:

    1. Use Flashcards

    Our brains create engrained memories through repetition. The more times we hear, see, or repeat something to ourselves, the more likely we are to remember it.

    Flashcards can help you learn new subjects quickly and efficiently. Flashcards allow you to study anywhere at any time. Their portable nature lends them to quick study sessions on the bus, in traffic, at lunch, or in the doctor’s office. You can always whip out your flashcards for a quick 2 to 3 minute study session.

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    To create effective flashcards, you need to put one point on each flashcard. Don’t load up the entire card with information. That’s just overload. Instead, you should dedicate one concept to each card.

    One of the best ways to make flashcards is to put 1 question on the front and one answer on the back. This way, you can repeatedly quiz yourself into you have mastered any topic of your choice.

    Commit to reading through your flash cards at least 3 times a day and you will be amazed at how quickly you pick up new information.

    As Tony Robbins says,

    “Repetition is the mother of skill”.

    2. Create the Right Environment

    Often times, where you study can be just as important as how you study. For an optimum learning environment, you’ll want to find a nice spot that is fairly peaceful. Some people can’t stand a deafening silence, but you certainly don’t want to study near constant distractions.

    Find a spot that you can call your own, with plenty of room to spread out your stuff. Go there each time you study and you will find yourself adapting to a productive study schedule. When you study in the same place each time, you become more productive in that spot because you associate it with studying.

    3. Use Acronyms to Remember Information

    In your quest for knowledge, you may have once heard of an odd term called “mnemonics”. However, even if you haven’t heard of this word, you have certainly heard of its many applications. One of the most popular mnemonic examples is “Every Good Boy Does Fine”. This is an acronym used to help musicians and students to remember the notes on a treble clef stave.

    An acronym is simply an abbreviation formed using the intial letters of a word. These types of memory aids can help you to learn large quantities of information in a short period of time.

    4. Listen to Music

    Research has long shown that certain types of music help you to recall information. Information learned while listening to a particular song can often be remembered simply by “playing” the songs mentally in your head.

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    5. Rewrite Your Notes

    This can be done by hand or on the computer. However, you should keep in mind that writing by hand can often stimulate more neural activity than when writing on the computer.

    Everyone should study their notes at home but often times, simply re-reading them is too passive. Re-reading your notes can cause you to become disengaged and distracted.

    To get the most out of your study time, make sure that it is active. Rewriting your notes turns a passive study time into an active and engaging learning tool. You can begin using this technique by buying two notebooks for each of your classes. Dedicate one of the notebooks for making notes during each class. Dedicate the other notebook to rewriting your notes outside of class.

    6. Engage Your Emotions

    Emotions play a very important part in your memory. Think about it. The last time you went to a party, which people did you remember? The lady who made you laugh, the man who hurt your feelings, and the kid who went screaming through the halls are the ones you will remember. They are the ones who had an emotional impact.

    Fortunately, you can use the power of emotion in your own study sessions. Enhance your memory by using your five senses. Don’t just memorize facts. Don’t just see and hear the words in your mind. Create a vivid visual picture of what you are trying to learn.

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    For example, if you are trying to learn the many parts of a human cell, begin physically rotating the cell in your minds eye. Imagine what each part might feel like. Begin to take the cell apart piece by piece and then reconstruct it. Paint the human cell with vivid colors. Enlarge the cell in your mind’s eye so that it is now six feet tall and putting on your own personal comedy show. This visual and emotional mind play will help deeply encode information into your memory.

    7. Make Associations

    One of the best ways to learn new things is to relate what you want to learn with something you already know. This is known as association, and it is the mental glue that drives your brain.

    Have you ever listened to a song and been flooded by memories that were connected to it? Have you ever seen an old friend that triggered memories from childhood? This is the power of association.

    To maximize our mental powers, we must constantly be looking for ways to relate new information with old ideas and concepts that we are already familiar with.

    You can do this with the use of mindmapping. A mind map is used to diagram words, pictures, thoughts, and ideas into a an interconnected web of information. This simple practice will help you to connect everything you learn into a global network of knowledge that can be pulled from at any moment.

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    Learn more about mindmapping here: How to Mind Map to Visualize Your Thoughts (With Mind Map Examples)

    Featured photo credit: Alissa De Leva via unsplash.com

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