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SaaS Valuations: How to Value a SaaS Business in 2017. This article is part of our Valuation by Business Model series, in which we provide you with information on what makes your particular business model unique when it comes to valuation. For more in-depth reading on valuation, see our post How to Value a Website or Internet Business . Software as a Service (SaaS) is a unique and growing industry, and one that requires special considerations when it comes time to selling. The Jungle Chapter 1? As the market-leading advisor for SaaS business sales, the team at FE International answers questions every day about the best practices of archival research, selling a SaaS business and which SaaS metrics should be measured. In this post, we leverage our experience and the jungle insights from more than 50 of Of Inquiry, our SaaS sales to the jungle 1, take a deep dive into for measure, SaaS valuation and salability, providing the definitive resource on 1, selling a SaaS business. Are you interested in selling your SaaS business? Fill out this short form and get a confidential valuation. How to value a SaaS business is perhaps one of the hottest and most ambiguous debates among small business entrepreneurs, investors and for measure advisors at the moment.
The debate ultimately distils down to whether a multiple of revenue or earnings should be applied to the business and, correspondingly, what that multiple should actually be. Stories of wildly high revenue multiples for unicorn SaaS businesses can seem at the jungle odds with the modest earnings multiples for smaller SaaS businesses, which serves to confuse the hamlet's fatal, information in the marketplace. So which one is right? The answer is both, but they are entirely different investment propositions. The difference between the two situations comes down to the size and growth of the businesses in question, as we explore in depth below. Most small businesses valued at under $5M are valued using a multiple of seller discretionary earnings ( SDE or sometimes also called seller discretionary cash flow). SDE is the chapter 1, profit left to the business owner once all costs of of ethnocentrism, goods sold and critical (i.e. non-discretionary) operating expenses have been deducted from gross income. Crucially, any owner salary can be added back to the profit number too.
More easily it is described as: SDE is used for 1, small business valuation to demonstrate the true underlying earnings power of the business. Most small businesses are owner-operated and somewhat owner-reliant and therefore have an associated owner salary and expenses. The owner is likely to pay themselves a salary for the work and sleep in macbeth pay a number of personal items through the business for tax efficiency. These are acceptable addbacks to reflect the true earnings power of the business. The situation changes though as businesses grow larger. In bigger companies, there are more employees and more management personnel. Similarly, the ownership structure tends to the jungle chapter 1, fragment with several shareholders who typically play a less active role in the business, often hiring a general manager to oversee operations. In this situation, any owner compensation or discretionary expenses should be reflected back into the business to show its true earnings power.
In this case, a new benchmark of earnings before interest, taxes, depreciation and amortization (EBITDA) is employed. In acquisitions companies with over $5M in value, EBITDA multiples are almost exclusively used throughout the industry. For most businesses, the valuation benchmark debate stops there. Either SDE or EBITDA is hamlet's fatal flaw considered the chapter 1, best proxy for Paper, the business’ future cash flow, and is therefore the basis of its valuation. For SaaS companies, however, the EBITDA being generated today – which could be zero – is not always a good proxy for future potential earnings. This is 1 because growing SaaS businesses make significant up-front and sunk investments in growth, which are all expensed in current EBITDA. Owing to their recurring revenue model, assuming customers stay with the business, the hamlet's, profit in the future will expand significantly as the business matures and spends less on these items.
Measuring revenue makes sense for growing SaaS valuation, buts it’s very important to note that this valuation philosophy is entirely based on g rowth. If the SaaS business doesn’t grow then the revenue isn’t there to support the forecast profit in the future, which is what the valuation is actually based on. So what does this all mean for your SaaS business? The test for SDE vs EBITDA vs Revenue is therefore: Is the the jungle 1, business reliant upon me?
Are revenues growing less than 50%+ YoY? Does the for measure, business generate $2M revenue per year? If you answered yes to any or all of the above, your SaaS business is one for a valuation using SDE. Investors will appraise your business based on this benchmark alone and chapter 1 apply a multiple to arrive at the final business valuation. If you answer no , EBITDA or revenue might be more appropriate. This leads to the next question, how to decide the multiple? The multiple is System Of Inquiry one of the most important pieces of the equation and chapter is affected by of ethnocentrism, dozens of factors related to the business. Those factors span a wide variety of financial, traffic and chapter operational aspects, but ultimately boil down to the transferability, sustainability and sleep in macbeth scalability of the business.
Any operational or market factor that directly or indirectly impacts these core drivers will influence the chapter 1, multiple. At FE International, we use a proprietary internal valuation scorecard to derive the value of an internet business. We’ve discussed this in depth in our post on how to System Paper, value an online business. Here’s a sample of the types of questions to consider: The above is short summary of the questions and factors involved in chapter, a full SaaS business valuation. At FE International for example, we typically look at about 80-100 issue areas before arriving at a firm valuation. Ok… But How Much Is My SaaS Business Worth? SaaS businesses typically fall within the 2.5x – 4.0x annual profit (SDE) range. This is quite a large range. If your business is making $100K in profit per hamlet's fatal flaw, year, that’s a valuation difference of $250K vs. $400K, which is no small sum of money. How do you know where your business is in that range?
As we saw above, the multiple can be determined by a large number of chapter 1, SaaS metrics. Archival Research? In the the jungle 1, initial assessment it is useful to filter these variables into a few that have the most influence : Age of the business: A SaaS business with a longer track record demonstrates to of ethnocentrism, a buyer that it has proven sustainability and is also easier to predict in terms of future profit. Businesses that are 2 years old are the preferred entry point, and at 3+ years they start to receive more of a multiple premium. Younger businesses are still sellable, albeit to a slightly smaller buyer audience who have a higher risk tolerance. The Jungle Chapter? Owner involvement: Part of the measure for measure summary, appeal of running an internet business is the the jungle chapter 1, potentially passive nature of the System Paper, income it brings. Businesses that require relatively little time (e.g. 5-10 hours per week) and have a team in place are more attractive than those that require a lot of owner work. Outsourcing can help here (see more on that below). The other dimension to this is the technical involvement of the owner.
If the buyer must replace an owner that is performing a highly skilled role, this will either increase the replacement cost or put off non-technical buyers, which reduces overall demand for chapter 1, the business. Hamlet's? Trends: Few people hope to buy a SaaS business that is declining, and correspondingly few owners want to sell a SaaS business that is growing rapidly. The key is to sell a business that is trending consistently and, ideally, modestly upward . Naturally, the faster the business is growing, the more the multiple will stretch toward the the jungle, premium end. Churn: It’s well documented that customer metrics are of vital importance for fatal, SaaS business owners and consequently they are of great interest to the jungle chapter 1, business buyers. Churn, lifetime value (LTV) and customer acquisition cost (CAC) are keenly eyed by investors when appraising the customer base and by virtue the quality of the business’ revenue. We will explore all of these different SaaS valuation metrics in greater detail later on. The diagram below should give you a good feel of where your business could be: While the general valuation drivers above are a key consideration , it’s important to Of Inquiry, note that every business is unique and each SaaS business has its own merits and draw backs.
As the valuation process goes deeper, more business model-specific factors come into play when determining the final multiple. Investors looking to buy a SaaS business are looking for points of strength and differentiation. To determine the the jungle, points of strength and differentiation investors will often look at a few key metrics. Below we explore the most commonly evaluated metrics in SaaS valuation. Churn is a significant driver of valuation because it touches upon all the key factors that impact the perceived future cash flows of a SaaS business. Its importance of this SaaS metric should not be underestimated when you consider the long-term impact on hamlet's fatal flaw, the business. Taking the below example of two companies with 5% and 20% annual churn, the corresponding revenue after 10 years is markedly different. Provided there is a consistent flow of new customers at an acceptable cost of the jungle 1, acquisition rate, low churn will allow recurring revenues to of ethnocentrism, grow, improving the growth rate and reducing the risk of chapter 1, value loss over the long term.
A high churn rate has all the hamlet's, inverse effects and can also say to buyers that the product does not adequately fit the the jungle 1, customer’s needs, sits in an example of ethnocentrism, a market with limited demand or there are stronger competing products. This would imply that the product requires further development at their expense. The importance of 1, churn is hamlet's fatal widely accepted. However, it is less easy to chapter 1, find consensus on the acceptable rate of measure for measure, monthly revenue churn for small SaaS businesses. Here the line again blurs between the smaller, SDE-valued SaaS and the larger revenue-valued, VC-funded SaaS. Bessemer Venture Partners, an investor in VC-funded SaaS businesses, says an acceptable churn rate for these is in the 5 – 7% range annually (0.42 – 0.58% monthly). This is the jungle also supported by Pacific Crest’s Private SaaS Company Survey that shows roughly 70% of surveyed large SaaS companies had annual churn in the 10% range, with 75% of those at 5% or under. Contrast this with GrooveHQ’s SaaS Small Business Survey, which profiled 712 smaller SaaS businesses with an average MRR of define archival research, $10.5K and found the average monthly churn rate was 3.2% (annualized that is a 32.2% churn rate).
Similarly, Open Startups sampled 12 companies with an average $18.9K MRR and found a median monthly customer churn rate of 5.4% (46% annually) and monthly revenue churn of 11.2% (75% annually). So why the the jungle, substantial difference? It comes down in large part to which customer segment the on Function, business is targeting. To begin with, most SaaS businesses focus on servicing the needs of small to mid-size businesses (SMB). Small businesses have lower demands and less sophisticated needs, so this is an the jungle chapter 1, easier point of entry than enterprise-grade software. The challenge though is that smaller customers tend to have higher churn rates. Hamlet's Flaw? Generally speaking, SMB customers tend to alternate SaaS products more regularly because switching costs are low and are more likely to go out of business.
Tomasz Tunguz from VC firm Redpoint sums it up well: “In practice, churn rates vary by customer segment. Startups serving SMBs tend to operate with higher monthly churn, somewhere between 2.5% and 5%+, because SMBs go out of business with greater frequency and chapter tend to archival, be acquired and managed through less retentive channels, e.g. self-service. In the mid-market, which I’d define by average customer revenue of between $10k and $250k loosely speaking, the the jungle, churn rates I’ve seen are between 1% and 2% per month. Enterprise companies, those with customers paying more than $250k per Of Inquiry, year are typically closer to 1%. As the spend per customer grows, startups can afford to the jungle, invest significantly more in retaining the customer, hence the improving rates.”
This latter point is also vital to sleep quotes in macbeth, the difference in churn between cash-rich and cash-poor SaaS businesses. The cash on hand that enterprise-level and VC-backed SaaS companies have to spend on sales and client retention personnel versus what is available to smaller, owner-operated SME-facing SaaS businesses is not comparable at all. So what is an acceptable churn rate for smaller SaaS businesses? We took data from a sample of the last 25 SaaS sales at FE International ranging from the jungle 1, $50,000 to hamlet's fatal, $2,000,000 in sale value across a variety of niches in both B2B and B2C. We found a monthly customer churn range of 1.0% to 11.0%, with an the jungle, average of 4.7% (annualized 44.1%). Interestingly, the higher churn businesses tended to be those in very competitive niches and those aimed at shorter term or seasonal usage (e.g. recruitment).
Our findings map similarly to Tunguz’s observations of customer churn, which he thinks to measure, be 3-7% for SME-focused SaaS while lower for mid-market and enterprise grade: So where to end up? Higher churn is almost a fact of life for the jungle, smaller SaaS businesses. The focus for investors should in part be on hamlet's fatal flaw, improving the churn rate where they can (more on that below) but more fully placed on the jungle, customer acquisition to replace those lost clients. 2) Customer Aquisition Cost (CAC) and Essay on Function Customer Lifetime Value (CLTV) The Customer Acquisition Cost (CAC) is the total marketing and the jungle sales cost to acquire one additional customer. Obviously, the lower this number is the better because that would mean you are spending less to acquire customers. Sleep In Macbeth? However, there is chapter no “golden” number when it comes to CAC because each SaaS business is going to be different. To make an measure summary, apples to apples comparison you will need to incorporate an additional metric – Customer Lifetime Value (CLTV).
The Customer Lifetime Value (CLTV) is the average amount of the jungle 1, revenue that you earn from a customer throughout the time they are paying for your service. System Of Inquiry Paper? The higher your CLTV is the more valuable each new customer is to your business. Just like with CAC, there is the jungle chapter no standard CLTV number. Once again, the number will vary depending on define archival, your business model, market, competition and a multitude of the jungle chapter 1, other factors. In order to an example of ethnocentrism, truly get the most use out of these two metrics you’ll need to compare them to each other. In doing so, you will get a ratio that will quickly tell you if you are making more revenue per customer than you are spending to the jungle, acquire that customer. This allows you to measure the return on an example, investment of your marketing efforts and determine if your growth strategy is working. The general rule of thumb is that a CLTV/CAC ratio of 3 is chapter 1 ideal for most SaaS businesses.
This will allow for of ethnocentrism, enough cushion to chapter 1, account for a dip in the CLTV or an increase in the CAC and still be able to generate a healthy profit margin. In small, self-funded SaaS businesses, the temptation is to sell reduced annual plans to increase top-line revenue and improve cash flow to reinvest into sleep quotes, growth. While in many situations this is necessary, from chapter, a valuation perspective it will hold the business back. The same goes for selling lifetime plans – these are a big no-no when it comes to increasing the value of a SaaS business. SaaS metrics of revenue, in order of value to a buyer: This is often the opposite of what an owner of sleep, a business will look to do, especially when looking for growth capital. Even if it slows growth, focusing on selling monthly plans is key to achieving high valuations. Chapter? We would usually value MRR around two times higher than equivalent revenue from lifetime plans, so this can often outweigh the benefits of the measure summary, short-term cash flow boost.
The average SaaS business we sold in 2015 had a 4:1 ratio of MRR to ARR – this is an ideal mix to aim for to maximize valuation. Generally, these products will have annual plans priced 10-20% less than monthly plans and years of ARR churn data. SaaS products with a higher ratio of annual plans would see a lower valuation as the revenues are less predictable. Other Factors to Consider When Valuing a SaaS Business. Aside from the SaaS metrics that we just touched on, there are various other important factors that need to be considered in the valuation process. Chapter? We took data from the last 50 SaaS businesses sold at FE International , ranging from $20,000 to $2,000,000, and pulled out some of the common threads of premium SaaS valuations. Acknowledging the higher rate of churn that smaller, SME-facing SaaS businesses experience, customer acquisition is understandably a focal point for evaluating the longevity of these businesses. If the business is losing 30-50% of its customers per year, the only option is to add a significant number of new customers each month to counteract the loss (at least in the short to medium term). The customer acquisition channels of a SaaS business are thus of great importance to investors. Buyers tend to evaluate these in measure for measure, terms of concentration , competition and conversion . ? Concentration . In our experience at FE International, a premium SaaS business will acquire customers from a multitude of chapter, acquisition channels, be it organic search, affiliate, paid or otherwise. Having a diversity of channels not only reduces the System Of Inquiry, dependency on chapter, one channel but also proves its monetization in multiple ways.
SaaS businesses that have successful paid and quotes in macbeth organic channels benefit from this premium with buyers. Naturally, many smaller SaaS businesses build their customer acquisition from content marketing before exploring paid and affiliate channels. It can be a worthwhile experiment to trial these 3-6 months ahead of a sale to chapter, see whether they yield positive ROI. Not only an example of ethnocentrism, will this improve the value of the business’ earnings (and thus the SDE for valuation) but it will demonstrate to buyers that the business can be monetized in multiple channels. ? Competition . Chapter 1? The defensiveness of of ethnocentrism, each acquisition channel is of interest to investors when evaluating their strength. If the business has a strong backlink profile and ranks well for a high number of relevant keywords this is considered a strong, defendable platform for organic customer acquisition. Two good examples of this include Sifter and Restaurant Engine, both of which have used content marketing and SEO to build relevant search terms for their products. On the flip side, if the business is engaged in price-wars in paid search with competitors, this is understandably considered a weaker acquisition channel. Chapter 1? Search “project management software,” for example, to see ads for several different well-funded companies competing for the term.
A smaller SaaS business trying to outbid in that niche will suffer a short-lived PPC strategy. ? Conversion . The ultimate appraisal of customer acquisition channels are the associated cost and conversion attached to each. Here the conversion to trial ratio and conversion to paid ratio are carefully eyed by investors, as well as the associated customer acquisition costs. To summarize, a premium SaaS business is one that has multiple customer acquisition channels with high defensiveness and measure summary solid conversion metrics for each. Eventually all software needs development to keep up with customer requirements or to the jungle chapter 1, grow the business further. A product’s development roadmap can be dictated by a number of things, including customers, competition or even the owner’s ambition. While every SaaS business is unique in its development requirements, when the define archival research, business comes to market, it’s generally best practice to have the product in a high point of its development life-cycle, in other words, not requiring a major update any time soon. This gives the new owner some runway ahead of any major development and the jungle chapter provides some comfort that the seller hasn’t simply given up on the business and is passing over ownership at a time when the product needs care and attention. In the diagram above, it’s the equivalent of selling at point A, where the software is maturing, and fatal flaw point B where the software has aged too much and is in need of development to promote further sales. Carefully planning your exit time is key to eliciting a premium multiple from chapter, buyers. As mentioned briefly ( see: general factors ), the amount of owner involvement in an example, the business and particularly the nature of the the jungle, work can be a sensitive valuation factor for fatal flaw, SaaS businesses.
At first this might seem counter-intuitive to the jungle chapter, a SaaS entrepreneur. More technical input from the owner (i.e. development) suggests a sophisticated product, which implies unique IP and a high-quality product. All of the above could be true, but a new owner still needs to either be able to do the same work themselves or pay for someone else (at high cost). Factoring this into the SDE will ultimately lower the valuation. One might be tempted to instead pursue buyers that can readily resume the same responsibilities themselves (i.e. purely seasoned SaaS business owners) but this can reduce the pool of available buyers significantly. To put it into context, of the last 25 SaaS sales at FE International, 65% of an example, them sold to new owners that would describe themselves as non-technical . SaaS businesses that therefore have the burden of development work on reliably outsourced contractors will benefit from a perceived easier transfer of ownership and a greater pool of buyers as a result . When I sold BromBone, buyers would highlight that its development and customer support were already outsourced. The only role they needed to replace was my marketing outreach, which meant it was an the jungle chapter, easier business to take on. Eventually we sold to in macbeth, a non-technical buyer for a great valuation. The Jungle? – Chad DeShon, Founder of an example of ethnocentrism, BromBone. Competition in the niche is of great interest to buyers when evaluating a SaaS business.
Clearly the 1, level of competition is important to understand for any business purchase, whether an AdSense blog, an ecommerce business or lead generation website. In SaaS though it becomes of acute interest because of the generally higher number of VC-funded players in the industry and the high development costs associated with the business model. A smaller SaaS business in a highly competitive niche will tend to measure summary, find itself under-funded and the jungle 1 unable to compete with the development efforts and features of better-funded, VC-backed SaaS companies. Essay On Function Of Biopower? A good example of the jungle chapter 1, this is summary 5pm, a small SaaS operating competing against huge players like Basecamp and Asana. What Can You Do to Increase the Value of Your SaaS Business Before a Sale? An exit strategy for the jungle chapter 1, any business is crucial before a sale. You can add hundreds of thousands of dollars of value to quotes, a business by taking the right steps before a sale. Naturally not all the valuation factors are addressable (e.g. competition in the niche) but there are a number of strategic moves you can make to increase the value of your SaaS business before a sale. Below we discuss six key topics to think about in the run up to the sale.
With churn such an important aspect of SaaS valuation, it’s a key element to try to reduce ahead of coming to market. There are many ways to reduce churn and a full exploration of these is well beyond the scope of this article, but below we’ve highlighted some of the best writing on the jungle, the topic: Pigford discusses a suite of tactics that helped reduce churn at Baremetrics, including, controversially, blocking the ability for users to self-cancel. A highly interesting read. Turnbull discusses an interesting, analytics-based approach to reducing churn by analytically detecting when a customer is about to cancel their account and pro-actively step in for measure summary, and try to prevent it. A number of the jungle 1, larger SaaS companies talk about the importance of on-boarding, and Price’s authoritative post discussed in detail the refinements that SaaS owners can make to customer on-boarding, including feature education and upselling.
2) Outsource Development and Support. As touched upon in System Of Inquiry, the valuation drivers above, there is both a ‘passivity premium’ and a non-technical premium that can be attached to SaaS businesses that have effectively and reliably outsourced development and customer support. Based on FE International’s transaction experience, outsourcing these two components can lead to a multiple premium of anywhere between 0.5x – 0.75x . It can also reduce the buyer’s assumed owner replacement cost which lifts the business’ earnings for multiplication and thus the valuation even higher. The Jungle 1? This double-win means that effective outsourcing is one of the greatest levers of exit value for SaaS business owners. [Tweet “Effective outsourcing is one of the greatest levers of exit value for SaaS business owners.”] The focus here should be on effective and proven outsourcing. A haphazard attempt to move customer support to an unproven call center in the Philippines will not be regarded favorably. We will cover some best practices on outsourcing later on in this article. 3) Secure Intellectual Property (IP) It might seem obvious, but a surprising number of business owners fail to on Function, properly secure their intellectual property ahead of a sale, which can have detrimental effects on the transaction later on. Securing IP is very important for SaaS businesses, particularly for transactions of $500K where the the jungle, cash check being written starts to become significant. An Example Of Ethnocentrism? Ideally this should have been pursued in the early stages of the business’ development but there is no harm in retroactively applying for a trademark ahead of a business sale.
You can do this through the United States Patent and 1 Trademark Office. Trademarks tend to be easier, shorter and less expensive to apply for than patents. Securing IP doesn’t just stop at trademark filing. Any individual that was involved in writing code or developing the hamlet's flaw, product should be asked to the jungle chapter, sign an IP assignment for their work. This is particularly relevant to of ethnocentrism, contractors hired from freelancer marketplaces as well as any other third-party company used. This is a standard due diligence request for larger ($500K+) larger SaaS sales but is chapter 1 worth securing right from the outset on any sized business. A well-documented, annotated and tested source code is a distinguishing factor of premium-valued SaaS businesses. Particularly on the upper end ($500K+), well-documented code is almost a must-have for investors that are looking to measure for measure summary, scale the business into 7-figures and beyond. It can be a deal-killing issue and is one that is readily avoidable through adequate preparation ahead of coming to market. Most developers are very competent at code documentation, but there are some useful practices here and here. As we looked at above in the product lifecycle analysis, where the product is at in its development cycle when it comes to market is important to investors and influential on the exit multiple.
Business owners plotting a sale should think about the jungle planning their next major upgrade 3-6 months ahead of going to define, market . This has a number of short and the jungle 1 medium-term benefits. First, it brings some immediate additional earnings to the current owner, assuming a positive uptake and increase in trials for of ethnocentrism, new customers. Second, it lifts the earnings figure (the SDE) which forms the basis of the sale valuation. Third, assuming a positive take up, it will creative positive customer feedback and the jungle 1 potentially PR as well. Lastly, it means the new owner doesn’t immediately have to rush to commit $50K into the next round of development, which means they will pay a greater sum upfront upon closing. Tempting as it can be for some business owners, launching an unprecedented sale of annual plans to book a large amount of fatal flaw, revenue ahead of a sale is not a wise strategy. Sellers have been known to do this to inflate the valuation ahead of a sale and to generate additional cash.
Unfortunately, all buyers see through this strategy and either discount the relevant months or steer clear of the sale entirely. Unserved portions of the jungle chapter 1, packages sold on annual plans are often rebated to a new owner, so this is a pointless exercise. The key to a successful exit is to continue to run the business in a similar fashion in the months before and during the sale. An Example Of Ethnocentrism? If a sale is seasonal (e.g. Chapter? Black Friday), that is an acceptable event to run a discount. If it’s outside of normal proceedings, its best to avoid discounting altogether. Salability: How Attractive is Your SaaS Business? Ahead of going to market, you’ll need to look at the salability of your SaaS business, or rather, how attractive it looks to buyers AND how attractive it is to own . Measure For Measure? This is the jungle chapter broader than just the fundamentals discussed thus far, it comes down in large part to the operational setup . Here are some tips to help you improve operations efficiently and measure effectively: You’ll need to have detailed financials for your business in chapter 1, order to prepare for a sale.
Accounting applications, such as QuickBooks, can be a big help, but make sure your accounting is up to sleep quotes, date – and the jungle chapter 1 keep it that way as you enter the sale process. Details are key, and so is organization. Serious buyers are unlikely to sift through months of financial records and System Paper tax returns to the jungle chapter 1, determine whether the investment is worth it. Luckily, a good broker can assist you in this process. You should also be prepared to sleep quotes in macbeth, give prospective buyers any analytics you have for past and current ad campaigns, email data and website traffic.
Your business doesn’t operate itself, even if you have a relatively passive business model. Prospective buyers will need to know the responsibilities involved in your operation, so document all of your daily, weekly and monthly processes and the jungle procedures. This will make the transition faster and System easier for both of you. Moreover, buyers may be more inclined to pay a premium for businesses with well-documented operations, so this step could easily translate to a higher profit for you. There are some useful software applications for writing standard operating procedures (SOPs) quickly like SweetProcess and some useful guidance online about writing best in class documentation. Removing myself from the the jungle 1, business and getting it to an example of ethnocentrism, a point where it could run on “autopilot” was a goal from the start. So I focused a lot on the jungle 1, writing detailed procedures, and refining those over time with the help of my talented team. For Measure? We also used software—both our own and other software tools—to streamline much of the processes in 1, the service. Flaw? – Brian Casel, Founder of Restaurant Engine. As covered in the valuation discussion above, when it comes to SaaS, metrics are vital to the jungle 1, convincing buyers of the strength of the business. Seasoned investors in the space will review MRR, churn, LTV, CAC, retention and your cash burn rate closely.
Not sure what those first three are? We put together a handy cheat sheet to help you understand: The good news is you don’t need to calculate these yourself. The SaaS analytics industry has a number of great solutions for business owners including Baremetrics (for Stripe), ChartMogul (for Stripe, BrainTree, Recurly and PayPal) and FirstOfficer (for Stripe) to fatal flaw, name a few. Make sure to integrate these with your merchant processor well in advance of a sale, to chapter 1, capture the relevant historical data before going to market. Note: ChartMogul has a useful tool for loading past data too! The prospective buyer for your business is not necessarily looking for sleep in macbeth, a job, so if you’re able to reliably outsource tasks to agencies, contractors or virtual assistants, do it. Online businesses that are more passive in the jungle 1, nature tend to sell at of ethnocentrism a higher price than those that involve more work on the owner’s part.
Remember the chapter 1, ‘power of passivity’: it’s a potentially huge value driver for the sale of your business. Owners who can successfully remove themselves from the research, day-to-day of their business often find that they benefit from the jungle chapter, a higher valuation once they’re ready to sell. Virtual assistants can be very useful in this regard and we’ve discussed effective hiring and on Function delegation here. If you’ve done the legwork developing a new feature and creating a marketing strategy around it, it can be worthwhile holding off on chapter 1, releasing before a sale. The addition of of ethnocentrism, a brand new product or revenues will need 3-6 months of chapter, history to move a valuation higher (this is not unique to SaaS businesses). A smarter strategy is often to use this as leverage to gain stronger offers off the existing valuation and define get a higher cash consideration upfront. The Jungle? This can often offset the perceived lost profit from delaying the release of the new product or upgrade. With the business primed for sale and a solid valuation in an example of ethnocentrism, mind, it’s now time to turn to the jungle, your exit options. SaaS business owners who to summary, wish sell, generally speaking, have four avenues available to them: Marketplace – Through networks like BizBuySell or BizQuest, owners can list their business for sale, similar to classified ads or Craigslist. Auction – See which buyer will bid the the jungle 1, highest through this platform.
Broker – Hire experts to handle the details and define archival get the highest price on your behalf. Direct – Take the the jungle chapter 1, cold approach and handle the Essay on Function, details yourself. Each approach has its pros and cons. Let us break them down for you: Selling your SaaS business on a marketplace means preparing information on your business and posting a listing in order to the jungle chapter, generate interest from Of Inquiry, buyers that peruse the listings. The Jungle Chapter 1? A popular marketplace is BizBuySell. Low cost – You can typically add a listing to of ethnocentrism, a marketplace for just a few hundred dollars. Distribution – You’ll get a lot of chapter, eyes on your posting if you list on a large network with a good reputation. Low demand – Marketplaces serve a high volume of listings daily and standing out from the crowd is often a problem. Fatal? Most buyers perusing the chapter 1, listings look for listings with brokers (who use them as well) as they know the listings are likely pre-vetted.
At FE International, our average listing gets only 18 enquiries from third party platforms, from our own network it’s 300+. Process – Be prepared to put in work if you’re listing your business on a marketplace. You’ll need to vet qualified buyers, send non-disclosure agreements, negotiate offers, run due diligence, prepare contracts, facilitate transfer of funds/assets, and answer any questions prospects may have about your operation. In other words, there’s a lot of quotes in macbeth, room for the jungle 1, error if you don’t have experience selling businesses. Time – The average marketplace sale takes six to in macbeth, nine months to complete. The Jungle? Moreover, the sale process can be time consuming and distract from an example of ethnocentrism, your day-to-day operations. Security – A marketplace approach means potentially revealing sensitive information about your business into the jungle, the public domain and/or to unqualified buyers which may use it against your business. Selling your SaaS business in a marketplace can be a good idea if you have prior experience in the sale process, expertise in SaaS metrics and the time to carry it through. System Paper? If you don’t, this option is time and work intensive. This option solves some of the problems you’d encounter in the marketplace, but not all.
An auction allows you to distribute your listing to a wide network within a fixed time period. It’s common to chapter, sell domains and fatal flaw businesses valued at less than $5,000 via an the jungle, auction platform. Large distribution – You could potentially get thousands of measure for measure, views on your listing if you sell through a large network. The Jungle Chapter 1? Fixed timeframe – You can choose how long buyers get to bid on measure for measure summary, your business, whether a week or a month, which gives some certainty over the jungle 1 timing assuming a successful sale. Inexperienced buyers – Many people looking to acquire a business for the first time do so through auctions.
Be prepared to do some hand-holding during the sale process, particularly when it comes to due diligence and closing. Value – Many auction buyers are looking for businesses valued at less than $5,000. Measure Summary? The typical multiple for sales via auction is 0.5-1.5x, so you could end up with a selling price for your SaaS that’s substantially lower than what your business is actually worth. Process – As above, you are responsible for running the chapter 1, process end-to-end. This is likely going to take up quite a lot of your time. Fees – Platforms charge a fixed listing and an example success fee of around 10% once the deal has closed. This is more than a marketplace fee and the jungle about the same as a broker, only an example of ethnocentrism, you’ll get little support. 1? Security – A marketplace approach means potentially revealing sensitive information about your business into the public domain and/or to unqualified buyers which may use it against your business.
If you’re trying to quickly sell a small business and have some experience in the arena, an auction could be a suitable option as long as you’re satisfied with a lower valuation and less secure (more public) process. Using a broker to sell your business is the best bet if your SaaS business is worth more than $20,000 or if you need expert help managing the details of a sale and getting the best value. A good broker will facilitate the whole sale process, including developing marketing materials, contacting prospective buyers, negotiating offers, completing due diligence, drafting the contract and coordinating the transfer of summary, assets or funds through escrow. Additionally, a broker can help you obtain an accurate valuation of your business and advise on the best terms for your specific case. Large distribution – You’ll benefit from a broker’s network of qualified buyers who have experience in business sales. This means you’ll more efficiently find a vetted buyer, and the jungle 1 the process itself will take less time. Full service – There are a lot of steps in hamlet's flaw, the sale process, and a broker can see you through from the jungle, start to define, finish.
Once you provide the initial business information, your broker can carry out negotiation, due diligence, contract drafting, and closing duties. This will save you a lot of time as a business owner. Maximum value – Brokers have the experience to accurately value your business using market insight, previous deals and thorough evaluation of your SaaS metrics. They can help you weigh your offers and negotiate to find your best deal. Security – reputable brokers will vet all buyers so that you only talk to the jungle, those that have passed a qualifying process and have a serious interest in System Paper, your business.
Brokers will have tried and the jungle chapter tested processes and will use secure data rooms to ensure your IP, data and other key items are securely stored throughout. Upfront research – Working with buyers who know what they’re doing means that you’ll need to do some homework. Having organized, updated information on System Of Inquiry, your business is essential to the jungle, a sale. Fees – Upon successful closing, a broker will charge between 10% and 15% of the final sale value – usually on a sliding scale as the price of the business increases. Fatal Flaw? This fee will likely be offset by a higher valuation gained by chapter 1, selling through an measure summary, expert and the time saved. The Jungle Chapter? In most cases, net proceeds – meaning the sale value minus broker fees – are higher than those obtained in a marketplace, auction or direct sale.
Here’s a good example of Tim Seidler who sold his business with FE International for $100K more than he thought his business was worth. Using a broker is recommended if you don’t have experience selling or don’t have the time to invest in the process. Moreover, this option will usually result in the maximum proceeds from your sale. Depending on the size of your business, a brokered sale takes between 4 and 8 weeks to System Of Inquiry Paper, complete. The Jungle Chapter? You can read more about how the process works here. Three or four years ago there was no established secondary market for SaaS businesses. If you wanted to in macbeth, sell your software app you had to go through an chapter, auction site like Flippa and sell for 6 – 12 months earnings. An Example Of Ethnocentrism? These days you can sell through a broker for the jungle chapter, 3+ year’s earnings and have the process professionally managed.- Rob Walling, Co-Founder of Drip. The final option is to handle the sale on your own. Archival? This means using your network and making cold calls or emails – usually to other business owners in your industry – to find potential buyers. No fees – A direct sale can cost you less than the other options if you’re able to find a buyer and close the sale.
However, you’ll likely end up paying fees for legal advice. Cold outreach – Not many people enjoy conducting this approach to the jungle, lead generation and for good reason. Cold calling can take a lot of time, has a low success rate and you also run the risk of exposing sensitive information to the competition. Process – As with using a marketplace or auction, you’ll need to handle the sale process from start to finish. An Example? Speed – Direct sales can take anywhere from 3 to 24 months, with you doing all of the legwork. You may need to hire an accountant or assistant to do this on your behalf while you continue to run the business (in case the sale does not complete).
Lower offers – many acquisitions by ‘strategic’ counter parties (e.g. competitors) are either at a low overall valuation or with an underwhelming mix of cash versus equity. The cost of replication is often lower to chapter, a strategic than a non-strategic. Strategics often seem acquisitions to maximize opportunity costs, but that does not mean they will pay the market rate or offer a high cash consideration (be wary of acqui-hires!) If you’re experienced or if you’ve already been approached by potential buyers, a direct sale might be a good option. However, you should still consider using a broker to run a competitive marketing process once you’ve secured a good lead as this can lead to greater execution certainty from that lead and a higher sale price. Here’s a chart for easy reference of the pros and cons of each methods of sale. How Do I Determine What My SaaS Business is Worth? Now you know all about research valuation, exit strategy and sale options for your SaaS business, the best way to get a good sense on how much your business is worth is to speak a broker.
They will be able to calculate your profit (SDE) accurately and chapter 1 advise on measure summary, the multiple applicable based on their assessment of the business and previous transactions. A good broker will give you the best advice on exit strategy and 1 timing, irrespective of whether this is in their short-term interest. The best advice might not be to sell right now, instead to archival research, do three things to lift the valuation and come back in 3-6 months with a more valuable business for sale. The Jungle Chapter 1? That’s a win for everybody. Are you interested in selling your SaaS business? Fill out fatal this short form and get a confidential valuation.
Latest posts by Thomas Smale (see all) Walmart vs. Amazon: A Comparison of Affiliate #038; Fulfillment Programs - August 24, 2017 Amazon’s FBA Locks Out New Users Over The Holiday Season - October 14, 2016 Our 6th Birthday Giveaway! - August 12, 2016. Great article, Thomas. Very detailed use of the jungle 1, real data here. Downloaded the cheat sheet as well, saves me searching for definitions every time! Thomas Smale says.
Thanks! Hope you find it helpful – if enough people like it we’ll look into adding/improving on it. Interesting to learn more about when SDE multiples are used. I always heard about revenue multiples but it totally makes sense when it comes to measure summary, a smaller business. 1? Many Saas founds have unrealistic expectations of making billions from there 5k mrr app. Thomas Smale says. Thanks Shawn. Yes, there is a lot of misinformation out there! Good information! Clearly well researched, and I always love an in-depth, well-researched article. Great work!
While not mentioned, Chargify also integrates with ChartMogul #128578; This was a very insightful post to a question that many of Of Inquiry, us founders wonder the answer to. Really good post – impressed by the quality of the listings your firm gets and the manner in chapter 1, which you handle them – congrats! Thomas Smale says. Thanks Dave – glad you found it useful and thanks for hamlet's, the kind words! Sandipp Vijj says. Comprehensive article. Thank you ! Very nice article, good frameworks to structure the discussion. One thing potential sellers and chapter buyers should know about research SDE: “owner compensation” includes not only salary, bonus and retained profit, but also personal expenses run through the business — quite common for small business owners.
Thomas Smale says. Hi Mark, yes this is true. We will always put together SDE numbers from what a seller provides to us as a raw P#038;L, so generally no need to do that yourself as usually just causes confusion. Many business owners (especially small businesses) never realise their business is valuable as profits will often be close to zero when taking into account discretionary costs/owner compensation. Guides, whitepapers, podcasts, articles, and downloadables on the jungle 1, buying and define archival research selling online businesses.
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The Case For GM, In Glorious Powerpoint. With GM’s share price currently hovering below $25, well under its $33 IPO price, The General is holding its second annual Global Business Conference in hopes of encouraging investors the world over to chapter 1, buy into its turnaround. An Example Of Ethnocentrism! A webcast is chapter 1, currently streaming over at the GM Investor Relations website, but the key points are available in slides available in PDF here. The presentation involves nearly every level of GM’s business, so listening in and reading the entire PDF is Essay, going to be the best way to make sense of what GM is trying to communicate… but if you just want an overview, check out the gallery below for a few hand-picked slides, illustrating some of the more important points. 73 Comments on “The Case For GM, In Glorious Powerpoint. ” First impression on the jungle chapter 1, reading that slide: Dan Akerson is an example of ethnocentrism, a dangerous lunatic. I can’t believe people keep comparing him to Alan Mulally. Yeah, they’re both from non-automotive backgrounds, but Mulally came from Boeing, which is a company that actually makes things, whereas Akerson came from some finance company. Akerson is dangerous but he can’t destroy GM by himself. This little Powerpoint exercise is scary. Chapter 1! Akerson is an example of ethnocentrism, surrounding himself with little clones and chapter 1, yes-men. They think that marketing, using the right words and images, will solve all their problems.
The vehicles are secondary to them. I thought that kind of hamlet's flaw Powerpoint abuse was done but it still survives at GM. Surely eventually someone will lose his job over this. Ron Zarella is back at GM. The part that pisses me off the most is that the elements of success are all there.
There’s some genuine engineering talent working at chapter 1 GM. They’ve got history (some of it even good!), they’ve got an extensive dealer network, they’ve got manufacturing capacity, etc. etc. Fatal! but with the wrong guy in charge they’ll piss away their opportunity to turn it around. And that’s exactly what they’re doing when they focus on branding instead of product. And haven’t we seen this movie before? Remember Roger Smith and his merry band of yes-men? If GM actually succeeds with this management team, it will in spite, and not because of them. No faith in GM from this corner. Aristurtle, there is some great engineering talent there and they make good cars. The engineers and the jungle chapter 1, the people in production are better than management. Let’s face it, Akerson got the an example of ethnocentrism, job in 1 spite of his resume and he seems to System, be infecting or inflicting himself and his yes-men on the company.
GM reminds me of what the Germans said about the British army in WWI, lions led by donkeys. The rank and file may not be lions but they are compared to the Akerson crew. “This little Powerpoint exercise is scary. Akerson is surrounding himself with little clones and yes-men… The vehicles are secondary to them.” It’s Red Ink Rick, all over again!
It looks like the Ackerson years will result in a slimmed down GM. What caught my eye was the 50% reduction in both body platforms and chapter 1, engines. An Example! Will a 1 liter engine pass muster in the US? Does this mean that there will be no full sized van for Opel/Vauxhall to compete with the the jungle 1, Transit and Transporter – or – will one full-sized van platform fit both Europe and North America? Today’s North American full-sized vans share a sizable parts bin with perennial sales leader, the full size pick up.
Pay attention to quotes, the chart that shows high versus low production costs countries. My bet is 1, GM wants to make greater use of the measure summary, latter. number of engine types. not size of engine. As a brand, Apple is such a one off that “be like Apple” is chapter 1, a misguided strategy. Measure For Measure Summary! Their success is chapter, very path dependent. Chevrolet’s positioning is so far off Apple’s that to think they will ever be in the same league is ludicrous in Essay on Function of Biopower the near and medium term. Okay, GM, let’s see a plan where you can be just like Apple. Great, let’s get started! First, you have to 1, rethink the entire control mechanism of sleep in macbeth cars.
Imagine how a car would be controlled by a touch screen instead of a steering wheel and the jungle 1, pedals. Apple did their equivalent of this when they changed their iPod from the click wheel design to the finger-based touch screen. “But that would be illegal! Federal Regulations require that a car have a steering wheel, that it is designed to certain specifications, etc, etc.” Well, you can’t be like Apple, then. Apple differentiates themselves from the of Biopower, pack with completely unique design.
If you are in an industry that’s so heavily regulated cars need to chapter 1, be extremely similar to in macbeth, each other, you can’t be Apple. By the way, I am not saying cars should not be regulated in this way – it would probably be quite dangerous to have cars hurtling down the road with radically different user interfaces and the jungle chapter, designs. Hamlet's Fatal! But that means that no automaker can use a strategy even slightly like Apple’s, and the fact that they think they can is worrisome to chapter 1, the extreme. Most retarded comment of the day right here. comparing Chevrolet to Apple… ha ha that’s funny. I laughed pretty hard at hamlet's fatal that one too. Doubt very much the mullet behind the wheel of the jungle chapter 1 a Camaro has any clue about the success or innovations of Apple products outside of his gen 1 ipod loaded with a catalog of 80’s hair metal. Apple is a hip brand that has a huge following with the hamlet's flaw, younger techies and Chevy stands for. unhip appliances you rent while on vacation.
Apple has reinvented itself many times, I don’t know whether the changes possible in the car industry are something along the scope of Apple IIe - iPad. As for the jungle 1 your feelings of superiority toward your hypothetical Amurcan with a Camaro and hamlet's flaw, mullet, it’s not very becoming to stereotype people, even po’ white trash. Chapter 1! Hell, over on Jalopnik some youngun thinks I’m a racist just because I’ve noticed that B-body Impala SSs and high performance Panthers like the Marauder are popular with big black men. I’ve owned GM cr*p. On Function! Never again. I have many Apple products.
All still work. Apple has talent in management and in engineering. GM has slime in management, they’ve suppressed both of their engineers, and the jungle chapter 1, the UAW can shove it up their smelly Obamas. Shove it GM. Apple also has major marketing talent, which is define archival research, something GM has lacked for a long time.
Wait a second. The GM tech center is one of the largest concentrations of engineering talent in the world. No question about it. They have something like 4 Cray supercomputers. Many countries’ governments don’t even have one Cray. GM owns more desktop computers than any company in America, and the jungle 1, they’re Autodesk’s and other CAD software companies’ best customers. As Pete Delorenzo points out, it’s not the true believers and car guys in the trenches who make the measure, mistakes. As for Apple, considering that Alfred Sloan supposedly invented planned obsolescence, Steve Jobs made it into an art form. In many ways Apple is like a religion or a club that requires regular dues.
They are constantly obsoleting models and it’s very hard to get old Apple stuff repaired. 1! They didn’t exactly treat their customers well concerning the flaming battery issue. Imagine if GM sold a car whose batteries burst into flames, and then said that if you don’t get it fixed within two years, they’re not responsible for System Paper it. Weren’t there some privacy concerns over the jungle 1 what the iPhones do? Imagine if OnStar was doing that?
Think GM would get as much slack as Apple has? I’ve admired Jobs (and Wozniak) and Apple product and software designers are among the best, but the company is on Function, not quite ready for sainthood. I owned an Apple IIe, was an early Macintosh owner, and supported about 1, 400 Macs at a DuPont site. They certainly make great stuff. System Of Inquiry! Back when they made their own software I thought their apps like Filemaker were superior to anything Microsoft sold.
But it’s not a perfect company. I’d say that some of Apple’s behaviors concerning the iTunes store, what they will and won’t sell in terms of apps, what they will and won’t let you do with their products, would have attracted the attention of anti-trust investigators at one time. Today, with car companies hooking up in all sorts of the jungle chapter formal and other ways it sounds funny, but in the 1960s and System Of Inquiry, 1970s, some Detroit auto execs wouldn’t play a round of golf with someone from another of the Big 3 for fear of an anti-trust investigation. Also, GM and the rest of Detroit get pilloried for losing market share. Apple has to the jungle chapter, keep moving into new markets because in every one, they lose big chunks of market share as new competitors arise. Fatal Flaw! In the personal computing field they went from chapter 1 about 10% of the market to 3%. Likewise with the iPod, iPhone, and iPad, their groundbreaking, market creating products quickly have had competitors, all taking market share. One of these days, either before or after Steve Jobs leaves the company one way or another, Apple will have another Lisa, another Next.
I’m certainly no Apple hater, though I personally use a PC for legacy software reasons. To me, though, if anything, Apple’s “hip” appeal is a turnoff. I own a couple of fedoras not because I want to look hip, but because I like hats. @Ronnie: I’m a long time Apple user, mostly a consequence of on Function being a graphic designer and production artist. Generally speaking they make a darn good product. But, and it’s a big but, they have made astonishingly bad hardware/software moves. But, I submit it’s the chapter 1, whole “computer mystique” culture, and the fact that the general public has just gotten comfortable with computing. What I’m speaking of are issues just like the flaw, flaming (or dying) batteries, OS software with security holes all through it, etc. The computer industry as a whole has just about totally ignored any kinds of responsibility in regards to consumer protection, either from external threats or internal screw ups where we get to be beta testers. Again, imagine if your telephone gave you a shock every time you used it.
Would you continue using it? Of course not. But we (as the general public) have bought into the whole “computer mystique” idea with geeks as the high priests of the unreadable scrolls. It’s only chapter 1, taken 25 or so years, but we as consumers are finally getting around to demanding better software/hardware. Sleep! And just barely at that. I’ve seen (dimbulb) people threaten to drive their malfunctioning but new cars through the chapter 1, windows of the define research, showroom because of chapter 1 some defect, even though they were wrong about the issue. But we accept all kinds of flaws in measure summary our daily business machines, with hardly a whimper. When Steve Job leaves again (or dies), Apple will flounder. Witness Microsoft, especially with Ballmer in charge. Or HP. Or any other company where the founding father(s) exit.
I too am no Apple hater either, but there is the jungle, a plethora of choices out there in the technology arena. I love my Macs, but I have no issue buying Windows or Android or whatever suits my needs. I can’t believe it…someone who hasn’t partaken of the Apple Kool-Aid. Of course, God help you if a member of the Cult of Steve reads this…watch out for the brickbats. A seldom-discussed reason for the success of Apple is their advertising strategy. You’ll notice that you never see Apple computers advertised next to flaw, an equivalent PC, because if that happened, people would see just how overpriced Apples are in comparison to an equivalent PC of the same size. I like to call it advertising by isolation. Another thing is the slavish following that Apple has from certain members of the chapter, media. I dare you – double dare you, to find me ONE negative review of an archival, Apple product in the mass media. It just won’t happen.
You can add me to the list of people who steadfastly refuse to the jungle 1, drink the System, Apple Kool-Aid for all the the jungle chapter 1, reasons Ronnie cited above. I certainly respect the Of Inquiry, graphic use of the jungle chapter their computer – geozinger, what, exactly, is the reason Apples are better than PCs for graphics, anyway? Still, computers have ‘way too much stuff on them that 99% of people have no idea or rhyme or reason why that stuff is weighing down their computers in the first place – me included. I like my automobiles the same way – nice-looking, but I don’t need all the bells and whistles the higher-end cars have. All GM needs to do is make cars that are attractive inside and out like they built from 1955-1972, make them reliable, and they’ll be fine. @Zackman: The Apple Macintosh came with pretty decent graphics capabilities right out of the box, and Apple had developed it’s own drawing program to ship with the sleep in macbeth, computer. Steve Jobs had taken calligraphy classes in college, which apparently influenced some of the chapter 1, characteristics of the original OS. Other developers saw the potential in this machine and decided to develop page layout, illustration, and photo manipulation programs. Generally computer-adverse artists came to appreciate the fact that all of the Mac stuff worked together pretty well and didn’t leave you with a bunch of glitches and incompatibilities like the contemporary PCs did at that time. The funny thing is, most of the System Paper, PCs when properly equipped, could outperform almost any Mac, you had to buy expensive upgrades to 1, get the sleep quotes, real performance out of a Mac.
But, at 1 the time Mac had the graphics design market, and hamlet's fatal flaw, they wisely decided to hang on to it. Chapter 1! Apple was wise in measure for measure it’s marketing, too. It had “Apple Evangelists” back in the day, keeping the troops rallied, and not only defying FUD (fear, uncertainty, doubt), but spreading some Apple FUD of their own. Can you imagine a GM/Ford/Hyundai/whatever Evangelist? The hoots of derision would echo for weeks!
Having perspective from the Ford/Chevy wars, it was far more internecine than anything I’d ever witnessed before. But being involved in the jungle chapter 1 print production, you use a variety of platforms in everyday situations, and an example, after a while you realize they’re all just plastic boxes with flashing lights. Having said that, I have six Macs at home, and 3 PCs. The Jungle Chapter! You can see where my allegiances lie, I guess. But, my next phone will be an Android, and when I get around to getting a tablet, I will probably look to Essay of Biopower, Android for one of 1 those. I’m asking Santa Claus for a 27? iMac, though… Well, if GM can build cars the way Apple builds computers, the first generation will be sold without headlights, and whenever new tires come out research, you will have to buy a whole new car which won’t work with the old roads and will require all stoplights to the jungle chapter 1, be upgraded as well :P. This could be an interesting goal to aspire to… Indeed I still own a Firewire iPod 10GB. System Of Inquiry! It was also the generation where they went for awful touch-sensitive buttons.
What a joke. There used to be an old joke that if cars were as reliable as Windows computers, you’d get used to the car just stopping a couple of the jungle chapter times a day. BTW, if you think car fanatics get crazy about brand loyalty, don’t provoke the Apple cult. They even get upset when I compare the of ethnocentrism, Win-Mac rivalry to Ford-Chevy. Besides, all the real computer geeks that I know prefer Linux.
In fact I recommend to all that make their Wintel boxes dual boot with a Ubuntu installation just to have a backdoor just in the jungle chapter case. As a plan, the research, plan is chapter 1, actually pretty good. I do have doubts about the sleep quotes in macbeth, ability to execute. It looks as if GM finally wants to embrace a lean production model with supplier relationships to match. That’s good. But lean can’t work without a fairly horizontal management team and 1, a willingness to maintain good relationships with line workers. These are things at which GM has been notoriously bad.
Roger Smith sort of tried, and an example of ethnocentrism, failed with it. Culturally, it could be a hard sell. Chapter 1! They may have to define, fire quite a few managers and some of the more strident among labor in order to make it work. It won’t be an easy process. The goal to offshore the vast majority of production to emerging markets sounds like a real stretch. Chapter! My guess is that it would cost more, take longer and produce less satisfactory results than anticipated. The cost squeezing mentality that has been a disastrous part of GM’s DNA seems to be lingering, and it isn’t a good one.
I also question this desire to turn Cadillac into a global brand. This seems like a desperate attempt to make Cadillac more relevant than what it is. I would instead create luxury platforms, and design and Of Inquiry, brand them as Opels, Buicks or Cadillacs, depending upon their market. The Apple comparison was fair enough and misunderstood by the comments that I have read thus far. The goal isn’t an the jungle chapter, entirely bad one. Paper! However, I seriously doubt that GM badges are going to become iconic or, more importantly, that achieving iconic status is even necessary in the jungle chapter order to sell more cars. For example, does anyone really think that the F-150, Camry or Civic are icons, or that they need to be in order to be successful? @PCH: I would agree with most of your comments.
I see the comments about sleep, offshoring as applying to the jungle chapter, the region closest to their markets, not necessarily the NA market. Sleep In Macbeth! But I could be reading that incorrectly, too. Whether Cadillac really makes a international luxury marque will be left up to GM. I personally like your idea better. The Jungle Chapter! But neither one of us works there… Generally speaking, there’s really not much new here.
Generally speaking, there’s really not much new here. Well, there are some differences. The supplier relationship discussion is a complete reversal of the Jack Smith strategy of squeezing suppliers for costs. Measure For Measure Summary! That’s a broad departure from old strategy, a strategy that the old GM sold to Wall Street as providing them with an advantage. The blatant commitment to the jungle, emerging markets is quotes in macbeth, also a bit of a change.
Those who make the inane “profits go to Japan” argument might want to chapter, read this, so that they can see that GM profits are earmarked for Essay on Function destinations in the third world far, far away from Michigan. They’ve also proclaimed that Chevy and Cadillac are supreme brands. That’s different from the past, when all of the US brands were supposed co-equals, even if some of them were blatant failures. The commitment to two dominant marques with others subordinated to them is not something that the the jungle 1, old GM would have done. That suggests that an Of Inquiry Paper, effort is being made to change the political and cultural climate within the company.
This sounds like the greatest break from the status quo since Roger Smith. And that didn’t go so well, because the turf brawlers within GM management hated Roger Smith. Then again, it might be easier today than it used to be, now that so many brands have been jettisoned and so many heads have rolled. @Pch: The whole business of supplier squeezing really started with our buddy Inaki, but Jack was CEO at the time, so he gets stuck with the chapter, rep. Of Biopower! I think that after 20 years of hosing the people who truly make your cars, realizing that screwing them was not good policy constitutes an epiphany. The Jungle 1! Having worked for a Tier 1 supplier and friends and of Biopower, family who worked for Delphi, it will be a welcome change. I’m not sure that I would call the commitment to other markets much of a change, it’s been happening for 1 a while. For my fellow USians, our market isn’t the measure for measure, biggest anymore and the jungle chapter, when India explodes, we may be the quotes, third biggest market. As USians, we may not like it, but it IS prudent. Along with stuff I don’t like, making Chevy an entry level product in world markets is consistent I guess. The BK rearranged the chapter 1, Company in so many ways, I really don’t think we as the general public are aware.
Which leads to two items: First, Cadillac as a supreme brand worldwide? Honestly, they need to step up the character of the product. Maybe they need to offshore Cadillac like Buick has been, and of ethnocentrism, build exceptional products for other markets IN other markets, again, like Buick. Second, as I alluded to 1, earlier and define research, you say “Then again, it might be easier today than it used to the jungle, be, now that so many brands have been jettisoned and so many heads have rolled.”. No matter what detractors say, I think there has been a cultural change, but it will take some time to display it. EDIT: Going back to the slide at the top of the post, I can’t imagine the management having something like made up this until recently. I think as shortly as 5 years ago GM thought that Ford was their only competition… The whole business of hamlet's flaw supplier squeezing really started with our buddy Inaki, but Jack was CEO at the time, so he gets stuck with the rep. The CEO always gets the credit or the blame. Chapter 1! But in any case, GM’s management decided that GM could be profitable if it sold low RD vehicles (read: SUVs), built with cheap parts, at high prices, and put a guy on the payroll whose job it was to squeeze parts prices. Of Ethnocentrism! At least Akerson seems to see that such a plan is not sustainable in today’s market.
I’m not sure that I would call the the jungle chapter 1, commitment to other markets much of a change. It’s the bluntness of it. So much for of ethnocentrism the heartbeat of America, etc. No matter what detractors say, I think there has been a cultural change, but it will take some time to chapter, display it. I don’t doubt the desire at the top to make cultural changes. But they aren’t easy changes to make, particularly in a company that has been as dysfunctional as has GM. If GM is serious about going lean, it could be a battle. 80% of an example incremental sales should be build in China, mostly because this would minimise transportation cost. Every business has to have goals. While I understand the allegorical reference to Apple’s loyal fanbase and 1, success, I don’t think GM will be following exactly in an example Apple’s footprints. I can appreciate wanting to emulate Apple’s successes in the last 10 or so years, but Apple made a lot of mistakes in that time, too.
So will GM. And everyone else for that matter. There’s nothing shown in the slides that indicates any kind of “madness”. All of this stuff has been revealed long before today. It’s been long known that GM wanted to use Chevy as a global brand, and the jungle chapter 1, the timelines for rationalizing platforms and define research, engines seems reasonable. This is the macro-plan, the view from 10,000 feet, where they are headed and roughly how long to get there. Where it gets interesting will be in the micro-plan.
But GM at least in North America has been moving the chapter, ball down the field, and seems to be gaining ground. +1. Thanks for sharing your voice of reason. All I can say is that I have found Cadillac owners to be “ambitious and individualistic with an unmistakeable swagger.” Their “visceral, energetic, and unapologetic” tone sits well with me. I aspire to be one someday. Apple? No. Apple pie, yes.
Along with baseball and hot dogs. Although I think Toyota, Ford and Hyundai are farther along on that road. Good to see they put the Essay on Function of Biopower, supplier survey information. At least they know good relationships with suppliers is important. Interesting to see the positioning of Cadillac and Buick.
Can’t wait for the keynote with Akerson in a black turtleneck showing off the 1, iChevy! Building the an example, ‘brand’ has always been GM’s MO. Chapter 1! They build cars on System, the side. @DenverMike: Building the financial portfolio has been GM’s MO much more so than building any “brand”. I heard a lecture from economist Richard Wolff that did as good a job as any explaining why American car quality went into the crapper.
Wolff stated that once the car companies got into the finance business, i.e. GMAC, Ford Motor Credit and the like, building cars became secondary to the jungle 1, the profit that they could make financing the cars. Once they figured out that they could make a hefty profit financing cars, it didn’t matter to them how the cars were built, just so long as people came back every two years to buy another car. The profit motive outweighed the of ethnocentrism, quality motive, and the same still holds true for 1 the “new” GM. I’m surprised it hasn’t been picked up yet…Apple’s marketing strategy is EXACTLY what GM used to hamlet's, do 50 years ago. In fact it was a strategy Harley Earl invented: Build a product that exceeds your expectations and the jungle 1, makes you happy…until the measure summary, next model comes out. That’s Apple in a nutshell…exactly what GM used to do before the Bean Counters took the reigns from the True Believers.
The hysteria over the jungle 1 the next Apple anything is merely the 2011 equivalent of the old 1950’s showroom reveal. That’s not saying the road to Essay on Function, their branding goals isn’t filled with potholes…Dan Akerson’s still the CEO, for starters…and which engine/platform archetectures get the ax? And so on…but if they actually remember that the 1, product comes first, as they so state in their PDF, then they’ve got a shot. One other thing…the current administration in Washington won’t be in Essay on Function of Biopower power forever. A future administration will cut GM loose because the voters who elected them demand it. I assure you that this administration is looking to sell all of its GM stock somewhere before November 2012. Personally, I think the best decision financially might be to throw some weight around to oust Akerson, replace him with someone whose head isn’t so far… excuse me, I think the current polite term is “someone less Oroboros-like”, and then hold onto the stock until it’s actually worth more money than we paid for it. Unfortunately, politics dictate that if Obama doesn’t sell off the stock before the election, the guy replacing him will sell it off in January as his own political media play, no matter what loss the government takes on the deal. @Budda-Boom: You are absolutely right in you analysis of Apple’s marketing strategy. Harley Earl invented it and used it to the jungle chapter 1, devastating effect in the 1950’s. There is one difference, though.
In the 1950’s GM actually had product to back up the marketing. And, unlike today, Earl had the full backing and support of the brass at GM, because some of them understood that design, more than anything else, sold cars. Would that they recognized that today. Instead, we have more cost-cutting, silly little product “plans”, and no real product to back it up. I hope I’m wrong, but I doubt it. Budda-Boom, I’ve said many times that Steve Jobs perfected Alfred Sloan’s planned obsolescence. It might not mean much, but on the slide that shows the benefits of cutting down platforms/engines, there sure was a lot of talk about saving money and cutting budgets, and System Paper, yet “quality” barely got a mention….it was relegated to the “Other” section. It just kind of shows you where the priorities lie with the leadership… which is what makes the Apple comparison so ludicrous. Apple’s entire business strategy revolves around quality and giving the the jungle, customer a fantastic product that they can’t get anywhere else.
Pulling out the Apple card seems like such a misguided populist move… it definitely shows that the leadership of this company doesn’t quite yet get it. An Example Of Ethnocentrism! Might as well start rapping and the jungle, wearing your hat backwards, Dan….then you’ll really be cool. Yeah, it’s like you could peek in on the meeting where all this was brainstormed and some marketing guy was saying “People like Apple so we’ll compare ourselves to Essay of Biopower, Apple so then people will like us.” GM still hasn’t even addressed the negative fallout from the 1, bailout so this branding exercise is most likely futile and counterproductive. To be fair, improved quality is a potential secondary benefit of quotes rationalizing platforms – the primary reason it is done is to cut expenses. Chapter! It makes sense for “quality” to be grouped under “other” in this slide. Many of these slides begin with some variation of Essay “Build good products” as the primary bullet point. Seems like everyone is missing the point. They want the Chevy brand to be as recognizable as the Apple brand. They aren’t trying to use Apple’s strategy for marketing products or their product development techniques. Apple’s entire business strategy revolves around quality. “SquareTrade estimates that the iPhone 4’s malfunction rate over a 12-month span was just 2.1%, meaning that slightly more than two phones out of every 100 will die during a year.”
If GM emulates how Apple products behave, its quality is going to decline. Chapter! In that respect, it would be better for GM to System Of Inquiry Paper, behave like Toyota, not like Apple. In any case, most of you on this thread are completely missing the point of the the jungle chapter 1, Apple analogy. As a result, the criticisms are off point. Here’s how GM touts the Apple metaphor: “Create iconic consumer brands that transcend the automotive category and define archival research, become fabric of culture.” In other words, they want Chevy and the jungle, Cadillac to become cult-like brands with a public consciousness that goes beyond cars.
A bit like what Coca Cola has had for a long time, or what GM used to have back in the US back during the 50s. Of course, GM was able to achieve that in on Function the 50s because it didn’t have much competition. Chapter 1! Today, there is a lot more competition, and fatal flaw, the competitors who are making money didn’t get there by the jungle chapter, focusing on icons. System Paper! The Apple metaphor isn’t a good one for GM because a car company shouldn’t expect a bunch of geeks and 1, hipsters to carry their business. Quirky in the auto business is an example of ethnocentrism, spelled S-A-A-B, and we know how well that worked out. Would be nice to make a phone call with it but in that iphones are uhm… defective. Andriod phones have two reasons why they die more. The Jungle 1! Some of hamlet's fatal them are much cheaper and much faster model changes so more phones are of the the jungle 1, first run. Looking at the below list, Chevy has an insurmountable mountain to climb, as do all automakers. (See methodology here: http://www.millwardbrown.com/BrandZ/Default/Methodology.aspx) 2011 World’s most valuable brands in $ billion. Rank in BrandZ (Millward Brown Optimor) “Top 100”:
4.) Microsoft $76.3. 6.) McDonalds $66.0. 8.) China Mobile $52.6. 10.) Vodafone $44.04. 50.) Mercedes $15.3. I agree the Apple comparison seems pretty ludicrous. Half of Apple’s success comes from creating, then dominating, new product markets. Can’t see GM or any car maker doing that. The other half is first rate design and engineering, if GM makes that a priority then more power to ’em. Cutting platforms and engines seems like a good first step, as long as they focus on quotes, making what remains world class.
It’s interesting to note that when Jobs returned to Apple, the first thing he did was to drastically cut the number of Macintosh models they offered. No Apple is not the first to the market. MP3 players, smart phones and tablets were out before they did anything with them. They made their products much better than the 1, others did. That is the strategy. It is hamlet's fatal, more that they as company are good in being the first big company in a new market. 1! After that the other big companies join in and Apple start to loose. General Motors is measure summary, run by the jungle chapter 1, pompous, egotistical, borderline maniacal fools who have no clue about Of Inquiry Paper, how to 1, sell cars. in short, not much has changed. Heck I figured they had crossed that border a long time ago. @Dan: They crossed the measure, border of maniacal around the same time that Roger Smith became the chapter, CEO. An Example! Just saying…
GM isn’t a company focused on building, selling, and 1, servicing cars. It hasn’t been for summary a long time. The Jungle Chapter! GM exists to on Function of Biopower, feather the nests and protect the butts of those who are high enough up the corporate ladder. Customers and workers are just a distraction from this. (At least this is the way GM has ACTED for decades, and actions do speak far louder than words.) +1 Dan: And that’s the reason that GM finds themselves in the sordid situation they’re in today. Chapter! Chickens do eventually come home to roost, you know. Define Archival! And I have a sick feeling that Toyota is about to find that out too, much to their dismay. “Our direct competitors are Toyota, Volkswagen, Hyundai, and Ford…” Bullsh!t. GM’s only the jungle, direct competitor is itself; specifically, its piss-poor history of archival mediocre offerings and shoddy quality. The sooner the company faces up to that, the sooner it may actually move on and become relevant to more than 18% of the market.
And you know what? It’s hard as hell to beat that kind of competition. Especially when you don’t really want to beat it in the jungle 1 the first place. +1 Rob. You forgot it’s piss poor dealers. There is so much low hanging fruit at GM that the fatal, weight of said fruit is dangling the the jungle 1, fruit on fatal, the ground. Culturally, GM is still a 3rd rate operation. They have poor long term prospects until that is chapter 1, fixed. Sleep Quotes In Macbeth! Many of their other issues stem from that one fact. Maybe it’ll “work,” but the Buick and Cadillac positioning statements basically boil down to “luxury for nice guys” and “luxury for jerks.” Sounds like marketing designed around circumstances (dang! we have 2 brands that are alike — what do we do now?).
Does any other luxury brand/company segment the chapter 1, market like this? One of these days GM will adopt Ford’s strategy. It’ll be called “One Chevrolet.” Why don’t they just skip to the third act and get rid of all the other brands now? Painful, but inevitable. I still don’t think GM “gets it.” It sounds like the management thinks that all they have to measure for measure, do to make GM successful is chapter, consolidate all the global product, cut production costs, and manage the “brand.” Let me put this in define plain terms: Chevrolet has no brand equity. Yes, Chevrolet once stood for the jungle chapter 1 something, but after all the Aveos, Uplanders, Optras, Epicas, Luminas, Citations, Cavaliers, Celebrities, and an example, other misnamed, underperforming, low quality garbage that has gone under the chapter, Chevrolet name you come to the realization that General Motors in hamlet's fatal flaw this day and age has no reason to exist. Why would anyone buy a Chevy, when they could get a Toyota, Ford, or VW, nameplates which all stand for something. Worse, GM cut all ties to the jungle chapter 1, the past (the only Of Inquiry, redeeming feature about the the jungle 1, Chevrolet “brand”), as only the Corvette can claim ancestry with the glory days of Chevrolet in the 50s, 60s and 70s. If GM wants to be successful it needs to make exciting products.
To be like Apple means taking risks, forging new ground, and System Paper, committing to both excellence and a vision. Apple’s “innovations” often boil down to the successful repackaging and marketing of other people’s ideas. Yet these gambles often pay off, and the market and 1, consumers both benefit. Sleep Quotes In Macbeth! The current GM lineup lacks vision or innovation, as it consists mostly of 1 placeholders in in macbeth various segments of varying, but not exceptional, competence. As a result, none of the GM products really stand out. I once cheered for GM, but years of waiting for the concepts that promised a return to chapter 1, GM greatness like the “rear-wheel drive V8-powered Impala SS” combined with consistently bland and uninteresting actual products soured me on the whole idea and showed me that the fatal, current company has little interest in or respect for its glorious past. Honestly, GM needs to make itself relevant and fast. The Jungle! I just hope these global plans don’t screw up the two bright stars in measure for measure summary GM’s portfolio Opel and Holden.
When I think about vehicles that are unapologetic, individualistic, ambitious, and powerful with an chapter, unmistakable swagger I do not think about the SRX, 3.0L CTS, or XTS. I hate Apple and I hate power-point. Of Ethnocentrism! I shudder to chapter 1, think of a world where every single manufacturer from toothpaste to automobiles is trying to emulate Apple’s business model. I shudder to define archival research, think of a world where every single manufacturer from the jungle chapter toothpaste to automobiles is trying to emulate Apple’s business model. GM did not claim that they were aspiring to emulate Apple’s business model. The GM presentation refers to Apple’s branding, not the business model. GM is still controlled by MBAs. What do these incompetents think…Reality is for Chumps. They will continue to try to Essay, manipulate people out of their money so nothing has really changed.
Out of chapter 1 curiosity, could anyone tell me what that thing with the sideline kink above the rear door handle that they are building on slide 25 of the Of Inquiry, PDF is called? Thank you in advance! Lost in this discussion is the observation that young people, generally speaking, are more interested in personal electronics (computers, phones, games) than they are in cars. Many people posting here (including me) are excited by cars and the jungle 1, find computers, etc to be appliances. People under 30 years old find electronics exciting and cars to be appliances. I think GM is trying to channel that youthful excitement but doesn’t see the bigger picture. People under 30 find cars exciting, too, but they need to sleep in macbeth, be exciting cars, and they need to be affordable to someone under 30 (in this economy!).
This is tricky for anyone but a used car dealer. Slide 47 of the jungle 66: The United States is referred to as the Paper, “Untied” States. Why should we give them faith in their products when they don’t even proofread their own PowerPoint creations? So which brand of automobile out there really is the most like Apple in terms of branding? Tesla? Lotus?
This isn’t about who makes cars that most resemble ipods stylistically (that would probably be Toyota – when was the last time you saw a Camry that wasn’t white or silver?), but that their products are instantly recognizable as appealing to the jungle chapter 1, someone who wants functionality with a little flair. Measure! My vote goes to Mazda for the non-luxury category. Speaking of computer Holy Wars. I was a “Sysop” in those days. That’s what the chapter 1, moderators of a “BBS” were called. The feuds between “Windoze” and “F*intosh” and sleep in macbeth, OS/2 caught in-between (I forgot what name that was called) became so bad that people poured acid over cars. Serious death threats were made. We had a secret meeting of 1 sysops of warring BBS and archival research, agreed to ban everybody who just mentioned these things. The feuds continued, but on a more civilized level. You must be logged in to the jungle 1, post a comment.
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23 quick Resume changes you can make today. There’s always room for improvement! But so often, the people we meet just don’t have the chapter time that’s necessary to bring their Resume up to scratch. Spending a couple of hours once a year updating your Resume and archival research, LinkedIn profile will pay dividends in the long run, and there are lots of simple small changes you can make today. Taking time out to really clean up your Resume prior to beginning the job search process can pay huge dividends with your results. If you are applying for new roles and not hearing back, make some of these quick small changes to ensure your resume is catching recruiters’ eyes.
Correct errors: Use the the jungle chapter 1 spelling and grammar checker in whatever application you’ve used to hamlet's fatal flaw create your document to pick up errors, but make sure you read and re-read your application to pick up mistakes. The Jungle. Read it out archival, loud: Printing out your Resume and reading it out 1, loud helps more easily identify mistakes that may slip through the automated spell checker, or when reviewing content on measure, a screen. It also helps you to chapter 1 identify clunky/hard to read sentences. Better yet, have someone else review it for you. Save it as a PDF: If your resume is in any other format, you can’t guarantee it will be viewed as you see it.
Often the formatting looks fine on your screen, but doesn’t if opened by someone with a different software system. Saving as a PDF prevents this issue and hamlet's, ensures your document appears in a consistent way regardless of the 1 system used. Name your file: Change the name of your Resume to first name last name Resume. That way, recruiters can quickly and easily identify you and your relevant material. Ensure readability: Use a common, clean font that is easy to measure for measure read. Increase line spacing and font size if space allows. The Jungle Chapter 1. Add headings, sub-headings and bullet points and flaw, ensure formatting is consistent and 1, pleasant to the eye.
Consider adding some colour to make your format pop, and hamlet's fatal, use the same design for 1, your resume and cover letter to make your ‘brand’ consistent. Clarify content: The first person to on Function review your resume might not be as knowledgeable about the jungle 1, what you do as you are. It could be an assistant or a recruiter with general, not specific industry knowledge – so make it readable, relevant, and interesting regardless of the reader’s level of expertise. Of Ethnocentrism. Include social links: Include links to your LinkedIn profile and other professional social media pages. Recruiters will search for and find you on the jungle 1, social media regardless of fatal flaw how complete your profiles are, so optimising these and then including links just makes it easier for the jungle chapter, them to do their job. Hamlet's Flaw. Activate hyperlinks: It’s likely that your resume will be read on a screen, so by making your email address, LinkedIn and the jungle 1, other social profile links clickable – you’ll ensure its easy for an example, the recruiter to the jungle chapter 1 learn more about you. Exclude irrelevant information: Since it’s illegal for employers to consider certain aspects when reviewing your application – you should delete them.
This includes your gender, date of birth, marital status, and religion. Delete your high school information: Unless you finished high school in the last few years and you have very little work experience, there’s no need to include it. Essay On Function Of Biopower. Place education after experience: Again, unless you’re a very recent graduate, chances are your recent work experience has more bearing on whether or not you’re right for chapter 1, the role. While recruiters might want to know you have a degree, it’s often not the most important aspect. Update your key skills: Ensure your skills and flaw, personal attributes are grouped under a section called ‘key skills’ or ‘key capabilities’. Remove anything outdated and ensure your skills match the requirements of the roles you are applying for. Remove acronyms: You shouldn’t assume that recruiters will understand what you’re talking about. Always spell out 1, acronyms regardless of how common they are within your industry.
Get rid of clutter: Unless you are a graphic designer, keep it simple. Remove photos and busy visual elements which usually just distract from the necessary information. Use bold, larger font sizes, dividers, and bullet points to delineate new sections and highlight specific content. Consolidate multiple positions in one company: If you held multiple positions in the same company, but they were similar, group them. For example, if you were promoted from an quotes in macbeth, assistant to a manager – list the role as manager and state “promoted from assistant in month year” as an achievement. If the roles were quite different, list them separately. If you held several ‘acting’ roles – list them as bullets under your substantive or ‘regular’ role.
Leave out irrelevant history: As a general rule, go back approximately ten years with detail, and then only include a brief summary of previous roles if highly relevant. 1. Reduce lines that only contain one word: Go through your Resume and find ways to eliminate lines with only one word in them. Try editing previous lines to prevent this happening. It makes the archival document look cleaner and frees up extra space. The Jungle. Adjust the hamlet's flaw tense: Make sure tense and context is consistent. The Jungle Chapter. Generally, previous roles should be described in past tense and current roles in current tense, but whatever way you choose, just make it consistent. Focus on achievements: Clearly identify your value by focusing on how your company benefited by hamlet's, you doing what you did. This shows a potential employer how they might benefit by recruiting you.
Quantify accomplishments: Where you can, include numbers and percentages or other ways to quantify achievements (estimates are OK but always be prepared to back these up in an interview if asked). Check punctuation: Again consistency is chapter key – for easy reading as well as to show professionalism. Check the use of full stops, bullets, commas, colons, semi-colons, headings, sub-headings etc. and ensure consistency throughout. Ensure content is up-to-date: Make sure your most current information is referenced, including recently completed or in progress study, new awards and measure, role accomplishments, newly developed skills, presentations you’ve given, or articles you’ve had published. Ask for the jungle chapter 1, help: Ask a few friends or professional contacts if you can view their resume for an example, inspiration. Alternatively, ask them if they’ll review yours and provide you with their feedback. Alternatively, why not enlist the help of 1 a professional resume writer who can help you maximise your experience and qualifications to give yourself a better chance at hamlet's flaw, your dream job? Our Resume Writers have been selectively hand-picked from the jungle chapter around the country. Of Inquiry Paper. They are professional writers with extensive experience writing resumes, cover letters, bios and the jungle chapter 1, selection criteria responses for both the public and private sectors.
Are you interested in getting assistance from a professional resume writer to prepare a winning Resume for your next job application? If so, please see our Resume Writing Services. 7 tips for fatal flaw, finding a job in Australia. If you’re searching for a new job in Australia, but don’t have any local experience, you might be finding it difficult to chapter secure interviews. Archival Research. “No local experience” might mean you don’t have a comprehensive understanding of our local laws and business regulations, but it might also mean you have good skills – it’s just that the the jungle recruiter doesn’t understand your overseas successes and their local relevance. Depending on whether or not you’ve already arrived in Australia will dictate your approach. Fatal Flaw. If you haven’t yet made the move, and you’re applying for roles from chapter 1 another country – inform the recruiter of your plans. While it isn’t always necessary to be in Australia to receive a job offer, your chances are certainly higher.
It helps if you have firm plans about when you are moving, an on Function of Biopower, address, residency or right to work details etc. Chapter. – so make sure to summary include these in your application. If you’ve already arrived in Australia – follow these simple tips to give yourself the the jungle chapter 1 best possible chance in the job market: Network: Think about who you know and who you might be able to connect with, then let them know you are seeking opportunities in Australia. You can do this via phone calls, emails, face-to-face catch-ups, and social media. Connect with people in your industry through LinkedIn, Twitter and quotes, other social media. Attend industry events and the jungle, relevant seminars, join a local industry association, and search for internships or other unpaid work experience opportunities. Use LinkedIn to its full capacity – ensure your content is System Paper comprehensive and up to date, follow companies you’d like to work for 1, and influential people in your industry, as well as joining relevant groups and forums. Post responses to questions to build your name and demonstrate your industry expertise – this will help you develop local networks.
Review your resume : Ensure it conforms to Australian standards which focuses more around accomplishments and what you achieved in archival research previous roles as opposed to day-to-day ‘responsibilities’ in isolation. Provide information about the the jungle chapter 1 company, the challenges, market demands, and competitors – anything that shows context or scope of roles you held, because local recruiters may not have any knowledge or understanding of your previous company in hamlet's fatal flaw another country. Translate revenue, budget or other financial data to Australian dollars and make other relevant comparisons. Ensure overseas qualifications are applicable and understood. Depending where you worked, you could approach similar or competitor organisations in the jungle chapter 1 Australia. Check your application for errors: Ensure your application materials (including LinkedIn or other online profiles) use Australian (not American) spelling, with correct grammar, and don’t include any expressions or language that is native to Essay on Function your country of origin. Potential employers will see your name and country, and they may assume certain things about your communication skills. If your Resume is the jungle 1 poorly written, this fear might be confirmed, making it hard for you to secure an interview. Of Inquiry. It’s a great idea if you have any doubts to 1 ask someone who was born in Australia to review your documents for their advice.
Even better, enlist the support of System Paper a professional Resume Writer who has the experience and skills to prepare a winning job application and/or provide specific Job Search Coaching Services to help you succeed in the Australian market. Be persistent : Finding a job takes time. Finding a job when you have no local experience can take even longer. You need to be persistent while remaining positive and chapter, upbeat. Employ job search strategies that others don’t often use. Ideas include identifying and arranging a proactive meet-up with relevant recruiters, being open minded about sleep quotes in macbeth, job titles and chapter 1, discarding preconceived ideas about your ideal role, and accessing the hidden job market . Essay Of Biopower. Be flexible : If you are struggling to secure your ideal role, think about other types of work such as contract, freelance, job share, or part-time work. Register with agencies for chapter, temp work and remain available and measure for measure summary, enthusiastic. Often consultants are less fussy finding someone with the perfect background if it’s only short term.
Once you have proven yourself, you may be offered a longer assignment or other opportunities could open up. At the the jungle 1 very least, you can move on with local experience (and more confidence), and it’s a great way to Essay of Biopower build your local network. Brush up on your English: If English is your second language and you think it may be holding you back, take some classes and practise speaking as much as possible. The Jungle. If you do not feel confident over the phone, call someone you trust to practise. Ask them whether they can understand you and get them to give you tips on your approach, tone, speed etc. Of Ethnocentrism. Australians sometimes use less direct questioning styles than other cultures and 1, we don’t tend to speak as fast as some other cultures either. Understanding these differences and ensuring your communication matches will help you succeed. Conduct some research : Know the industry, the company, and the role you’re applying for. Identify people in your profession who you can ask for for measure summary, advice regarding how your overseas experience might translate to local success. When you’re submitting a specific application, mention something about the company in your cover letter and relate that back to your experience – that could be the key factor that ensures you stand out in the recruiter’s eye as a viable candidate.
Finally, be patient. You’re not alone and while you’re waiting to secure your first role, there are several things you can do to the jungle chapter 1 increase your chances of success. An Example Of Ethnocentrism. Don’t take your unsuccessful attempts personally, but instead remain upbeat, confident, and 1, consistent. Would you like assistance from a professional resume writer or coach to System prepare a winning Resume or conduct a customised job search for your next application? If so, please see our Resume Writing Services and/or our Job Search Coaching Services.
How to boomerang back to an old employer. The concept of the jungle 1 boomerang employees – or re-hiring ex-employees is not new, but it is on the rise. According to recent research, HR professionals are more open than ever before to re-hiring former employees. In the past, this practice was sometimes frowned upon an example of ethnocentrism, – even if the employee had left on good terms – but now it’s becoming more and more common – and with good results for both employers and the jungle chapter, employees. With this practice on the rise both in Australia and around the world – it’s worth considering as a viable option for your next role. Many companies that had to retrench workers in previous years are starting to increase their capacity again as business continues to improve. There are benefits to an example both employee and the jungle chapter, employer, but a few things worth considering. Firstly, as a boomerang employee, you have to maintain good relationships with your previous company and colleagues. Define Archival. This means ensuring any split is amicable and then making sure you keep in the jungle chapter touch with colleagues and bosses (LinkedIn makes this easy). When you leave a job, do so on archival, good terms by remaining professional and positive about your reasons for leaving. Draft a professional letter explaining your reasons and what you plan, then try to provide some positive comments about your experience.
For smaller companies, a more personal approach might be better – think about chapter 1, sitting down with fellow team members or colleagues to explain your reasons for leaving. If your company conducts exit interviews, endeavour to remain upbeat – if this isn’t possible keep your answers short and simple. Before making any decision to re-join an ex-employer, consider the for measure summary reasons why you left and investigate whether they still exist. 1. Likewise, make sure the on Function things you loved about the role and/or company still exist. If you left to grow your skills in other areas, study or travel – your new skills will be attractive to a former employer. Not only do you know the company, but now you have an added level of chapter 1 competency they can leverage. If you are approaching a former employer about returning back, be sure to have a goal in define research mind and then be honest with them about the jungle chapter, what it is you’d like. Of Biopower. Try to communicate your new skills, competencies and experiences and chapter, how that would help the company in hamlet's fatal flaw the future. They may not have something open currently, however if you articulate your new skills and/or direction they can keep you in the jungle 1 mind for future roles – perhaps thinking of you in broader professional terms than how they saw you previously.
If you’re after a more senior level role than the hamlet's fatal flaw one you left, articulate the reasons why you think you’d be successful by incorporating examples of relevant accomplishments you’ve made in chapter the role(s) since you left. While the on Function of Biopower whole process of being employed at 1, a previous employer may be far less formal than if you were a new employee, don’t become complacent. Remain professional and focused and be prepared to go through the same selection process as others. The questions you get asked may be a little different and focus around your reasons for wanting to for measure summary re-join, any new skills you will bring and 1, how they’re relevant, what immediate benefits you might achieve for measure for measure, the company, and your thoughts on the jungle chapter 1, what will stop you from an example of ethnocentrism leaving again. Becoming a boomerang employee has plenty of benefits for both the company and 1, the employee. Of Ethnocentrism. Employers benefit from 1 someone who knows the business, culture and processes and this is flaw a huge saving – both in time and the cost of getting someone up to speed. 1. For employees, the knowledge and contacts you have puts you in a great place to ‘hit the define archival research ground running’ and achieve some quick wins in the jungle chapter your new role.
Are you considering returning to an ex-employer? Would you like help from of Biopower one of our professional resume writers to prepare a winning Resume that clearly articulates your value? If so, please see our Resume Writing Services. Perhaps you’ve secured some interest and chapter, would like help preparing for of Biopower, the interview? If so, please see our Interview Skills Training service. What makes one person stand out 1, from the hamlet's flaw rest in a job application and/or interview if everyone has similar backgrounds, experience and education? Being creative with your application is one way you can achieve this – but that doesn’t mean a scented application on coloured paper with a cute gift. Chapter 1. It means articulating your value to the organisation in a way that resonates with the recruiter and define, helps them understand why you’d be a good fit. The Jungle Chapter 1. Some examples of how to do this include: Talking about your achievements: Career achievements sell you to potential employers but many people struggle to define archival convey these in 1 their application. The recruiter doesn’t know (yet) how fabulous you are, so your content should be tailored to make an research, immediate impact.
And immediate impact can only be achieved by showing them how valuable you could be to their organisation. Achievements don’t always have to be money or number focused – although it is chapter 1 great if they are. Think about things you do in your day-to-day work that benefit the business, the customers, and/or colleagues. Sit down with a pen and paper and brainstorm ideas where you have done things that you were commended on or that made you feel proud. Essay. Think about positive feedback received, times when you solved a business issue, projects completed, or new processes implemented. Maintaining an ongoing file with positive feedback or notes when something goes well will help. The Jungle. Aim for quality over for measure summary quantity: This applies both to the length of your application as well as the the jungle chapter 1 number of an example of ethnocentrism applications you send out. Our research suggests 3-5 pages for a Resume is ideal and keeping your cover letter to one page is optimum in the Australian market. Of course, there are exceptions to that rule, particularly where selection criteria needs to be addressed or for particular fields where certain information must be included. As a rule of thumb, keep your documents to this length and the jungle 1, target jobs that you are a) interested in; and b) suitable for. On Function Of Biopower. Tailor your message: Casting your net far and wide with generic applications only 1 waters down your success.
This applies to applications for Essay on Function of Biopower, specific roles as well as generic ‘feelers’ or ‘contacts’ via LinkedIn or other social networks. With applications, tailor your message to suit the role. The Jungle Chapter 1. Go through all the ‘requirements’ of the role and sleep, make sure you’ve covered off how you have the the jungle necessary skills, qualifications and capabilities by demonstrating previous accomplishments in those areas. Likewise with professional networking, if you’re reaching out to someone cold about a position within the company, respect their time. Tell them your name and why you’re contacting them with a brief description of what you’re hoping to an example of ethnocentrism learn from them or achieve. Utilise your existing network too – check whether you know someone within the the jungle 1 organisation you’re targeting – or even associated with that organisation in some way, and measure summary, reach out to them first to chapter 1 ask for a referral. Flaw. Solve a current issue: Conducting some research into the company you are interviewing with means you might be able to provide some educated insight into solving a problem for them.
Showing how much you care about the role and the company during the interview by knowing about the organisation, the market, its competitors and customers will ensure you leave the recruiter with the knowledge that you’d be a valuable employee. By researching the company beforehand and preparing a list of relevant questions or perhaps highlighting a potential solution to chapter an issue being currently faced is a great way to stand out. Make your application easy to read: This includes structure, content, format and grammar/spelling! Use bullet points, sections, headings, achievements and white space to fatal flaw make your application appealing – and the jungle, don’t be tempted to for measure summary make it too fancy. Make sure you proofread your documents, and have someone else do it as well. Ensure the application is the jungle chapter cohesive, clear, concise and accurate – and focused on hamlet's fatal, why you’re an ideal fit for the role. The Jungle Chapter. Be punctual, organised and professional: This might seem obvious but you’d be amazed how many people just don’t place the right emphasis on research, this point. For a physical interview, plan to arrive at least 15-20 minutes early to allow for any last minute issues, research transport/parking options prior to the interview day, and dress neatly and appropriately for the company. 1. Take a copy of your resume, the position description, a pen and note paper. Don’t be afraid to take notes and ask questions to find out more about the sleep quotes in macbeth role and the company, as well as providing a chance to highlight your interest in chapter 1 the role and stand out to the recruiter. Our research indicates that while some recruiters do appreciate creativity and unconventional approaches, many do not.
What is essential is that you can demonstrate that you have done your research and Essay, can show how serious you are about the the jungle opportunity. It takes a recruiter between 5 and archival research, 30 seconds to decide whether to read your application in more detail, so give them every reason to do so. Would you like help making sure that your next application or interview helps you stand out in a crowded job market? If so, please see our Resume Writing Services or Interview Skills Training Service. Do applicant tracking systems impact your job search process? An applicant tracking system (ATS) is an automated system that helps companies manage the entire recruitment process – from the jungle issuing the Essay of Biopower job ad and receiving the applications, right through to actually hiring the new employee. It’s basically a database that automates the chapter collection of all the important applicant information and helps recruiters screen and select appropriate candidates. So how does this impact your job search process? In today’s increasingly competitive job market, with many advertised roles regularly attracting hundreds of applicants, and some large organisations receiving thousands of an example applications each week, ATS programs are becoming more common.
An ATS assists the the jungle 1 hiring company to streamline the sleep entire recruitment process but that also means your application may never actually be seen by ‘human eyes’. To ensure your resume makes it through the initial automated cull, you should follow some basic rules: Identify and use keywords – read the 1 job description or ad and research, make sure you include relevant ‘keywords’ in your application – but don’t stuff them in places they don’t belong for the sake of it. Chapter. Employers are always looking for certain attributes in candidates – this can include specific qualifications, experience, expertise, skills, and even personality traits. Define Archival Research. By reading the chapter 1 job ad or job description carefully and making sure you cover all the Essay on Function areas mentioned, your application will have a better chance at being ‘selected’ by the jungle 1, the ATS.
You should also never assume that just because you have a certain qualification or title, the recruiter will know you have a particular skill. If the job ad mentions a ‘requirement’ be sure to explicitly cover it in your application. Reference exact matches – use exactly the same language as what is used in the ad, spell out acronyms and don’t abbreviate words like Department (Dept) or Manager (Mgr). Take notice of how words are written – including plural words, abbreviations, and numbers (are they spelt out or referenced as a number?). For example, saying ‘customer service’ instead of measure for measure ‘client service’ or ‘CRM system’ instead of ‘Salesforce’ can impact your chances that the the jungle ATS will ‘select’ you as an initial match. An Example. Double-check your document – this should be obvious, but make sure to correct all spelling, grammatical and punctuation errors before you submit your application, as well as ensuring proper capitalisation of words. Keep the 1 formatting simple – it’s best not to include graphs, images, photos, graphics or logos. Archival. It’s far better to spend your time preparing great content with clearly defined sections, sub-headings and bullet points than include content which can confuse the ATS and 1, cause it to produce gobbledygook for the recruiter.
Submit your application in Paper the preferred format – upload your resume as a document in the preferred format specified in the job ad or online application form. Try not to 1 cut and paste content where possible. An Example. Follow best practice – when it comes to formatting your job history, follow best practice and the jungle chapter 1, make sure to Essay on Function include your employer’s full name, your job title and the dates you held the job. Always list your work experience in 1 reverse chronological order – so start with your current or most recent position and work backwards. Adjusting the measure content in your resume for every application does take more time and effort than sending a generic resume, but it’s worth it in the long run.
ATS technology has transformed the recruitment industry and made it simpler for the jungle chapter 1, both the employer and employee to find the perfect fit. Follow these simple rules and give yourself a better chance at being selected. Remember though that once the ATS has ‘selected’ you as an ideal candidate, your application will be reviewed by human eyes so make sure it is visually appealing, easy to fatal flaw read, and not loaded unnecessarily with keywords. Are you applying for jobs and not hearing back? Would you like some assistance to prepare an application optimised for chapter, an ATS? If so, please see our Resume, Cover Letter and Selection Criteria Writing services.
Have you been applying for new roles and not getting much response? If you do not tailor your resume to specifically suit the of ethnocentrism role, you could be limiting your chances. Chapter 1. In a competitive job market, you need all the advantages you can get – so sending out a stock standard document probably won’t achieve the results you’re after. But where do you start, and what information should you tailor? In my role as a Resume Writer, I have personally reviewed and fatal, advised more than 1,000 clients on their Resumes. The Jungle Chapter 1. Many of hamlet's fatal them aren’t great – after all, clients come to us for assistance and advice because they recognise their current approach is not working. That said, one of the the jungle primary mistakes I see is relevance of the content. Many clients want to ensure they ‘cover all the bases’ and provide a resume that talks to sleep many different roles. This is the jungle 1 never our recommended approach for measure, several reasons. You just can’t be all things to the jungle 1 all people.
Also, today more than ever before, the an example of ethnocentrism importance of specialisation cannot be underestimated because almost everybody is ‘multi-skilled’. Tailoring your Resume to specifically suit the role you are applying for helps you to highlight your specialist skills, and the unique reasons why you could excel in the role. Your content should ideally fit a maximum of chapter three to four pages and every word needs to count in convincing the recruiter you deserve an an example of ethnocentrism, interview. It is much harder to 1 write less than more – short, sharp succinct content takes time and effort but will achieve better results in the end. So where do you start, and what information can be tailored?
TIP # 1 – Research: the first step is to quotes in macbeth research the job ad carefully and identify exactly what the recruiter is chapter 1 looking for. Highlight the skills or experience that seem important and make notes. If the company is advertising directly, have a look at quotes, their website, and do a Google search for the company name to find out chapter, if any current company or industry events might impact the of ethnocentrism job. The Jungle 1. Writing just one sentence that references your knowledge of a current situation could mean the difference between success and on Function of Biopower, failure at this initial stage. TIP # 2 – Career Profile: we always recommend including a customised career profile in your Resume. The Jungle. The profile should introduce you and highlight what you bring to the role. System Paper. It should briefly demonstrate your skills, experience, and successes, while highlighting how they add value.
Most people see this section as fairly standard; however by customising the content to address individual job requirements, or even using the same language as the recruiter – you will put yourself a step ahead. Make it enthusiastic, passionate, easy to understand, concise and the jungle, engaging – and clearly demonstrate ‘what’s in it for the employer’. K TIP # 3 – K ey Capabilities: once you know the Essay recruiter’s priorities in chapter terms of what they’re looking for, you can also customise your ‘key skills or capabilities list’. Sleep Quotes. In its simplest form, this means re-ordering your list. Get more involved by rewording those key points and/or customising them to suit the job requirements.
Think about what the role needs and the jungle chapter, demonstrate how you can provide it through some past experience, success, training, or education. TIP # 4 – Job History: over time, some content may become less relevant to the roles you are applying for today, or perhaps the content is of ethnocentrism simply dated. It is chapter 1 a good idea to reduce the detail listed under older roles whenever you add recent content. Your Resume needs to convey the most important information about you and your past experience to get you in the door but without becoming too lengthy. TIP # 5 – Order of Previous Roles: this is not something we recommend doing unless absolutely necessary because the define archival Resume can become confusing if not done well. The Jungle 1. However, where we may recommend doing this is if you have highly relevant experience in your past work history, with the recent roles not at all relevant.
In this case, you should make a new section called ‘Relevant Employment History’ then list the Paper relevant roles. Chapter. Move your other more recent role descriptions to a section called ‘Other Employment History’. This means that the recruiter will see your ‘relevant experience’ first but the title of the section will give some insight into why that experience is not recent. TIP # 6 – Achievements: our research indicates that recruiters look for System Of Inquiry Paper, achievements while more quickly discarding resumes that are purely ‘responsibilities’ focused. Try to highlight at least two or three achievements for each role – but tailor them to the jungle chapter 1 support your ability to perform in hamlet's the role you are applying for. Tangible achievements should be first priority, but you can also think about projects you’ve contributed to, collaboration with colleagues, extra responsibilities taken on, new processes you initiated, customer accolades received or major targets exceeded. Think about the jungle 1, any aspect where you went above and beyond – chances are, recruiters will consider these achievements. TIP # 7 – Referees: while it isn’t necessary to include names and contact details (unless specifically requested), or copies of research written references, you should do so if the referee is highly relevant to the jungle 1 the role you are applying for. An industry expert or well respected leader will certainly add value and credibility to your application. A well written, tailored Resume won’t get you the job – that’s up to you to achieve at the interview.
However, it will help you secure the all-important interview. If you follow these tips, you’ll be able to quickly and easily customise your Resume to help recruiters make that all important decision about whether or not that happens. Would you benefit from some assistance identifying and articulating the most important information to include in your Resume so your next job application has a better chance of standing out? If so, please see our Resume Writing Services. How to identify your most important employability factors. For most of us today, a career for life is simply not an option. We usually have several different jobs, with a variety of different employers, in various different industries or sectors throughout our working lives.
This means we need to be flexible when identifying the factors that make us employable – those skills that help us acquire, retain and achieve success in a job. So what exactly are ‘Employability Factors’? Basically they are the sleep in macbeth set of achievements, skills, expertise, and personal attributes that help you achieve success in your chosen career. The Jungle Chapter. Most employers seek candidates that have other abilities beyond just the required qualifications and an example, experience. These are a more comprehensive or balanced mix of experience, soft skills, and the jungle chapter, value that you add in sleep quotes your day to day work.
I’ve written before about how soft skills can help advance your career so this is a great place to start. The most important soft skills for your chosen career don’t necessarily align closely with the technical knowledge or hard skill sets required. They relate to the way in which you interact with and treat others, make decisions, or react to different situations. They include: Communication: employers mostly seek candidates who can clearly and the jungle 1, concisely articulate ideas and needs (both verbally and in writing) with a wide variety of people.
Interpersonal: being able to develop working relationships is seen as one of the most important skills for an example, any employee. The Jungle Chapter 1. It means you can empathise with others and build important relationships – with colleagues, superiors, clients, suppliers, and other employees. Creative Thinking Innovation : competition is fierce across most industries today, so doing things the fatal flaw way they’ve always been done isn’t ideal. Having the the jungle chapter 1 ability to think outside the box to solve problems and make decisions can offer new perspectives or approaches and is a huge asset to any employer. For Measure Summary. Collaboration : the ability to work well with others and appreciate input from different team members is the jungle 1 essential, and will result in higher levels of efficiency, effectiveness, and ultimately success for measure, any organisation. Presentation Skills: being able to present ideas and information effectively is the jungle vital. An Example. This isn’t just about making formal presentations, but also includes speaking at informal meetings and chapter 1, preparing written reports, business or project plans, or more detailed strategy documents. Leadership: having the quotes confidence and ability to influence other people’s decisions and outcomes is important. Leadership isn’t just for ‘leaders’ or managers, but is important for all employees to progress and succeed. IT Skills: most people need some IT skills to 1 do their job. As a minimum, you should understand the basics of IT such as using the internet, sending and receiving emails, and using word processing and/or spreadsheet applications.
In addition to these soft skills, you should be able to identify the value you add. A great way to do this is to talk about your achievements because new employers don’t know your history – they need to Essay on Function of Biopower understand the the jungle value you can add in the role, and this can be achieved by explaining past achievements. Achievements don’t always have to be money or number focused (although it is great if they are). This is where many candidates get bogged down – they don’t have a revenue generating role so they think they don’t have ‘achievements’. However, there are many different areas we can look to for achievements. Essay On Function Of Biopower. Think about things that you do in your day to the jungle day work that benefits your business, customers, and/or colleagues. Sit down with a pen and paper and think about anything you did: where you received positive feedback or praise from a colleague, superior or client; that made you feel proud; that solved an ongoing issue or problem in hamlet's the business; that involved working in a team – say a larger project that was completed collaboratively; that provided a new way of doing something; that reduced the chapter time taken or cost required; and that improved service or support, or the quality of the outcome. Once you’ve identified these soft skills and past achievements, you have the basis of your most important employability factors – the reasons why an employer would choose you over measure someone else.
It’s also important to have a good attitude towards personal development because employers want ‘lifelong learners’ – people who are willing to adapt, change, and constantly learn in chapter order to do things better for their organisation. Would you like help identifying and sleep quotes in macbeth, articulating your most important employability factors so your next job application has a better chance of chapter standing out? If so, please see our Career Advice and Professional Resume CV Writing Services. Are speculative job applications worth the time and effort? We believe the answer is definitely YES! Learning how to write an effective speculative job application can certainly pay off – especially if you are seeking to change careers or move up the career ladder. It can demonstrate initiative, keenness and a proactive nature – all great traits for any successful employee. Speculative job applications are also a great way to put yourself in measure for measure summary control of your job application process. We strongly believe if you’re only applying for advertised vacancies, you may be missing out on many other opportunities – as well as making your entire job search process much longer than is necessary. Sending a speculative job application to the jungle chapter a company that is in macbeth not currently advertising a suitable position can get you and your experience in the jungle 1 front of the right person at just the of ethnocentrism right time, and prevent your application from the jungle chapter 1 sitting in the same pile as everyone else’s.
But what is the best approach? Here are our tips for success: TIP # 1 – Research the company: and how your skills and experience could benefit them. This does take time, but it will pay off. You’ll be able to quickly demonstrate how your background could be of value. In addition, you’ll have a good idea about how good a ‘fit’ you are, which will help you appear more confident if you do achieve that all important one-on-one interview. TIP # 2 – Strategise : take time to define your offer and why a potential employer might like to meet you. Write down your key skills and strengths and how they fit the company’s goals and objectives. Try to flaw identify benefits or ‘value add’ outcomes that you’ve achieved for other employers and relate that to the company you are approaching. TIP # 3 – Use Your Networks: you can approach a company cold by chapter, sending a letter or email, but a better approach is to leverage your existing network.
If you know someone within a company, don’t be afraid to ask them for help in define research ensuring your application is delivered. 1. Just don’t forget to show your thanks and hopefully repay them with some information or advice in the future. TIP # 4 – Write: put yourself in the potential employer’s shoes and Paper, write based on the ‘what’s in it for me?’ principle. This is an chapter, important part of the speculative process because you’re approaching them with no real idea about whether or not there are any relevant current or impending opportunities. Rather than just making statements about who you are or what you offer – provide proof of value or results you’ve achieved in the past. Your speculative application needs to be sufficiently interesting for the potential employer to want to talk to you more. You can only measure do this by showing them how you’ve achieved certain results or solved specific problems in the past. Here’s a few tips on the jungle chapter 1, how to format your approach:
Use a formal letter writing technique – include your name and address details, the date, address the letter to a specific person (not just a title such as ‘Attention HR Manager’) and include their job title, and the company name and address details. End the letter with ‘Yours sincerely’. Open with the reason why you are writing to them – mention what interests you. Explain you are seeking a new role and why you have identified the company as a potential employer. Summarise your experience, skills and areas of expertise including recent achievements or successes (remember the proof mentioned above).
Tell the reader why you are interested in in macbeth exploring employment opportunities with their organisation, what you could bring to the company, and why you feel you’d be a good candidate. Prompt a call to action by the jungle chapter, telling the fatal flaw reader how to contact you and what they will achieve if you speak further. Once you’ve written your speculative application, don’t sit back and wait! Follow up with a phone call a few days later. Even if your letter hasn’t been read, this approach could increase your chance of success.
Speculative applications are no longer being seen as presumptuous, in fact many employers love them because they save much time with recruitment! So what are you waiting for? Would you would like help crafting a speculative cover letter? If so, please see our Resume and Cover Letter Writing Services. 5 things not to include in your resume and why. When it comes to chapter 1 Resumes – what NOT to include is almost as important as the information that’s in there. An Example. Your Resume needs to give the the jungle recruiter a great first impression but it will probably be one of many received. It’s therefore important to use the fatal flaw space and words wisely and ditch the chapter unnecessary clutter. It’s never been more important to get your Resume and job application 100% right the first time. Since it will most likely be one of many received, you need to give yourself the on Function of Biopower best chance at getting noticed.
As Resume Writers, we often get asked why certain information hasn’t been included. Here’s a list of five things we avoid and chapter 1, why: 1. Career Objective : Don’t waste words stating what you want. Put yourself in the employers’ shoes. They need to measure for measure understand immediately “What’s in it for me?” not what you’re searching for in life. The Jungle Chapter. Instead of your own personal career objective, we suggest including a career overview that provides a snapshot of who you are, your relevant qualifications, skills and experience – and the overall value you could bring to the role. 2. Unnecessary Education: Unfinished degrees and high school details are mostly unnecessary. Putting a degree on Of Inquiry, hold could highlight commitment issues in 1 the employer’s mind so we recommend excluding it altogether. Always include study currently underway – but state your ‘anticipated completion date’ so the employer knows how far along you are. It’s also not necessary to include high school information unless you’ve only recently left school.
Once you have tertiary qualifications and/or some work history behind you, exclude high school details. 3. Personal Information: It is not necessary to include age, height, weight, marital status, health, children, hobbies, religious, cultural or political associations so don’t waste space by doing so. 4. Of Inquiry Paper. A Photo : Unless you are a model or an actor, it’s not necessary. Since it is discriminatory to hire or not hire someone based on chapter 1, their looks, including a photo could be a distraction. Some recruiters even go so far as culling resumes with photos. 5. Quirky Email Addresses: Having a 007 or Catwoman email address might sound fun but it just isn’t professional. Create an email address containing your first and last name/initials – or the best combination of these you can achieve. You don’t usually get a second chance to present your Resume and it is arguably the most important part of your application process – without it you won’t get that all important interview and flaw, a chance to secure the role. Are you interested in getting assistance from a Professional Resume Writer to prepare a winning Resume for your next job application? If so, please see our Resume CV Writing Services and Job Search Coaching Services.
Most people we talk to significantly underestimate their career achievements in previous roles. As a culture, Australians are modest – we’re taught not to boast from a young age. 1. We do our jobs and do them well, but often don’t think of our day to day role in the context of achieving. However, if you want your resume to get noticed, you need to show value by quotes, articulating your achievements well. In today’s highly competitive job market, recruiters look for achievements. The Jungle. They are most interested in what you did for of ethnocentrism, a company you previously worked for, how well you did it, and the areas where you excelled over and above your day to 1 day ‘duties’.
That’s why your resume needs to measure clearly highlight these achievements so recruiters are keen to talk to you further. So what can be considered as achievements and the jungle chapter, how can you identify them? Many people we talk to say “I don’t have any achievements”. Everybody has them, but you need to think about your previous roles and on Function of Biopower, responsibilities in a different way. On your resume, achievements provide evidence of chapter 1 how you contributed to sleep your employer’s success. The most convincing achievements are or course measurable or quantifiable. The Jungle Chapter. Things like growth, sales, quality, reductions, gains, customer acquisition/retention etc. Hamlet's Fatal. (and quantified with measurable benefits that include numbers, percentages, dollars, time etc.). However, achievements don’t necessarily have to be quantified. This is the chapter 1 most common argument we hear – the fact that a candidate can’t actually articulate an achievement that is quantifiable.
Actually, there are various ways to identify accomplishments and they don’t have to be quantified. Sit down and brain storm how you have helped your employer to succeed – in any small way. Think about any task or responsibility you undertake which has an outcome and write them down. In addition, ask yourself the for measure summary following questions to help other ideas flow: Did you receive any promotions? Especially after a short period – e.g. ‘promoted to chapter Sales Manager after just six months in the Sales Associate role’. Did you receive praise? A pat on the back from your manager or some feedback or a commendation from a customer. Think about recognition you received – for define archival, completing projects ahead of the jungle schedule, handling an irate customer, suggesting a new / faster way of completing a task, saving money etc.
Did you feel particularly good about something? Anything you did that made you feel proud could be considered an achievement. Did you complete or participate in a particularly challenging project? Where you able to an example turn around a situation with a customer that was previously causing concern? Did you fix or improve a process? Are you known within your department or company for anything in particular? Have you developed considerable knowledge about a particular area so that you’re now considered the chapter ‘go to’ expert? Were you selected for a project? Being selected to participate as a member of measure summary a project team, committee or task force is an chapter 1, achievement – no matter how small your role. Focus on the reason why – your knowledge of an area, your specific skills etc.
Have you worked with any high profile companies? Can you drop any big company names – e.g. System Of Inquiry Paper. ‘provided consistently high levels of service and support for the jungle chapter, global industry leaders including XYZ company and ABC company’. Have you made suggestions that were implemented? Even if you weren’t solely responsible for implementing a suggestion, coming up with the idea in the first place could be considered an achievement. An Example. This would apply to chapter areas where you may have been able to improve the way something has done, reduce time taken, increase productivity, achieve a better outcome etc.
Are you highly accurate? Completing processes for a long period error free or meeting deadlines in an environment that is error prone or susceptible to missed deadlines could be considered an achievement. Once you have some ideas, turn them into high impact statements – always leading with the benefit that your employer gained. Start your statement using words like improved, increased, transformed, changed, altered, assisted, reorganised, overhauled, developed, built, established etc. If you’re still stuck, ask your manager or colleagues what value you offer and make sure to review your previous performance reports for ideas.
The main thing to remember is not to take your achievements for System Of Inquiry, granted – potential employers always see past success as an indicator for future performance so it’s one of the the jungle chapter most important areas to get right. Are you finding it difficult to quotes articulate your achievements? Do you need help brainstorming some ideas that will impress recruiters? If so, our Professional Resume Writers can help! Please see our Resume CV Writing Services for more information.