The Role of Small Businesses; 6 Key Steps on Seizing Your Career; Yellow Trucking's Bankruptcy Impact; 7 Tips For Crafting a Strong Financial Plan
Ryan Patel
Global Business Executive | Board Director | CNN Contributor | Keynote Speaker | Webby Award Nominee | Host of "The Moment with Ryan Patel" Filmed at The HP Garage | Making Complex Topics Simple | LinkedIn Top Voice |
Welcome to?"Ryan is Curious" Headlines ,?your monthly roundup of conversations that piqued my interest across all topics and industries.?Don't forget to?subscribe? and?click the????bell?icon?on?my profile ?to ensure you don't miss anything! Let's jump right into it:
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Economic Powerhouses: The Role of Small Businesses
In these uncertain times, small businesses have proven to be the backbone of our economy, showcasing remarkable resilience, nimbleness, and creativity. Let's dive into the data I recently reacted to live on-air:
??33.2 million small businesses exist in the U.S. as of 2022, providing employment to over 61.5 million people (SBA)
??Approximately 20% of new businesses close within the first year, highlighting the challenges and risks entrepreneurs face. Only around 35% of new businesses make it to their 10th anniversary (Bureau of Labor Statistics)
??Small businesses created a significant impact by generating 12.9 million net new jobs between 1996 and 2021, accounting for 66% of net new jobs created during that period (Bureau of Labor Statistics)
Shout out to the LinkedIn News team for spotlighting me too!
Now, let's talk success tips from the thriving entrepreneurial world:
?? Know Your Market
?? Adapt to Change
?? Learn from Failures
?? Understand your Unique Selling Proposition
?? Build a Strong Online Presence
?? Customer Service is Key
?? Stay Persistent and Patient
Remember, building a successful business demands time and effort. Embrace your entrepreneurial spirit, stay passionate about your vision, and keep growing and learning. Kudos to the incredible individuals creating jobs and driving local economies forward!
????What other invaluable tips do you have for fellow small business owners and entrepreneurs? Share your wisdom below!
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6 Dynamic Steps to Seize Control of Your Career
How do you take charge of your career?
First and foremost, a heartfelt shoutout to the incredible?LinkedIn ?News team for featuring me – I truly appreciate the spotlight on your post!
So I figured I try to take the quote and simplify it into six powerful steps (you know me, I love keeping things simple):
?? Step 1: Proactivity is the Key: Take the lead! Be proactive, set ambitious goals, and let your passion propel your progress.
?? Step 2: Embrace Accountability: Accountability is a must for success – not just a buzzword, but a way of life. Understand yourself, own your actions, and thrive!
?? Step 3: Celebrate Your Achievements: Acknowledge and appreciate every achievement, big or small. Celebrate your wins to boost confidence and stay motivated!
?? Step 4: Fuel Your Motivation: Surround yourself with positivity, seek inspiration from mentors and peers. Let your motivation become an unstoppable force!
?? Step 5: Embrace Personal and Professional Growth: Growth is your lifelong companion on this career journey. Embrace every experience, and evolve into a better version of yourself!
???? Step 6: Cultivate a Sense of Gratitude: Be thankful for every opportunity, every lesson learned, and every person who's been part of your journey. Gratitude unlocks new possibilities!
????Love to hear your insights and tips in the comments below!
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Yellow Trucking's Bankruptcy: A Wake-Up Call to Supply Chain Challenges Across Industries
???? The recent headlines surrounding?Yellow , a 99-year-old trucking company, have shed light on the persistent challenges within the shipping sector, revealing insights that resonate across industries. The supply chain disruptions we've witnessed since the pandemic's onset have far-reaching consequences, causing delays, price hikes, and contentious encounters with labor unions.
Yellow's recent bankruptcy filing underscores the intricate interplay between operational costs, a fiercely competitive landscape, and the pivotal role of the workforce. While the closure of this specific company won't immediately translate to empty store shelves, it serves as a potent reminder of that there might be turbulence ahead. The trucking sector, marked by substantial operational expenses like fuel and labor, relies on a robust workforce to maintain seamless operations.
This situation reinforces the notion that supply chain intricacies transcend the boundaries of individual sectors. In navigating this ever-evolving landscape, adaptability and proactive strategies are paramount.
It's crucial for leaders to remain vigilant in devising innovative solutions that address disruptions, sustain operations, and ensure fairness for all stakeholders involved.
Any similarities or differences you see from lessons learned in other industries?
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National Financial Awareness Day: 7 Tips to Take Control of Your Financial Future
?? This past Monday (August 14) was National Financial Awareness Day, and I'm excited to start a conversation around 7 tips for creating a successful financial plan:
1?? Start with the basics: Lay the groundwork by mastering fundamental principles of personal finance - budgeting, saving, and investing. This forms the bedrock of your financial knowledge. Remember, knowledge is power!
2?? Set clear financial goals: Your journey begins with defining your financial aspirations and devising a roadmap to reach them. Be it owning a home, a dream vacation, or a comfortable retirement, clarity is your first step toward success.
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3?? Budget Like a Pro: Craft a practical budget that guides your financial journey. Think of it as a GPS for your money! This tool empowers informed decisions and shields you from overspending.
4?? Invest Wisely: Equip yourself with knowledge about diverse investment avenues to nurture your wealth. It's time to make your money work for you! Remember, diversification is key to a thriving portfolio.
5?? Emergency Fund: Shield yourself from life's curveballs by establishing a safety net. Aim for a stash of 3-6 months' living expenses in a dedicated account, just in case!
6?? Pay off high-interest debts ASAP: Unlock trapped funds by prioritizing the eradication of high-interest debts. Your liberation from financial burdens starts here!
7?? Review and Adjust: Stay attuned to life's changes and keep your financial plan agile. Regularly assessing your goals and adapting your strategy ensures your plan remains relevant. Consistency in monitoring your progress is key!
????What about your personal finance gems? Share your tips below!
Remember, crafting a robust financial plan is an ongoing journey, not a destination. The power to start lies within you!
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Cultivating Growth: Nurturing Progress Through Gratitude and Action
?? Recently, I received a raw picture of myself on stage, and it instantly brought back memories of my journey. Seeing myself on that screen, even a big one, still feels surreal. These moments serve as powerful reminders to embrace every opportunity for personal development.
Adapting to this experience wasn't an overnight transformation, but I remain dedicated to continuous improvement. Progress is what I seek... always striving to be better and more impactful.
Here are a few things that keep me motivated:
?? Track Your Progress - Keeping a record of accomplishments and milestones helps maintain motivation and provides valuable insights into what's working and where there's room for growth.
?? Stay Consistent - Consistency is the key to making steady progress. Even small steps taken consistently can lead to significant results over time.
?? Seek Feedback - Embracing feedback from mentors, peers, or experts in your field helps identify areas for improvement and fuels personal growth.
?? Stay Positive - Cultivating a positive mindset is crucial for making progress. Surround yourself with positivity and practice self-compassion during challenging times. I know that this is not easy...I know I lean on this Linkedin community to help me do that!
????Now, I love to hear from you! What's one lesson you've learned recently that had a profound impact on your growth? ??
PS - A special shoutout to the?LinkedIn ?Product team for allowing me to be a part of the beta group to test the Microsoft designer on LinkedIn... it certainly jazzed up the photo...figured I try something new! ??
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I am thrilled to announce that I will be a keynote speaker at ETA's prestigious Strategic Leadership Forum, the premier conference for payment executives. It is an honor to have the opportunity to interact with industry leaders from September 27 to 29 in Carlsbad, California!
The keynote session is titled "Key Tech Trends Shaping the Future of Payments."
We are currently witnessing an era of remarkable payments innovation and growth, driven by digital transformation, connectivity, and sustainability. These factors have led to disruptive advances in customer-centric strategies, such as embedded commerce, tokenization, and other data-safeguarding tools. Additionally, real-time payments, improvements in digital wallets, biometrics, and the emergence of new, eco-friendly forms of payment are transforming the landscape.
So as you can tell, I will be diving deep into the key tech trends that are impacting the way we pay, and I will explore the implications these trends hold for the future of payments.
I'm really looking forward to sharing insights and ideas that will shape the industry's future. It's going to be a fantastic opportunity to have meaningful discussions, connect with fellow professionals, and contribute to the growth and success of the payments ecosystem. Can't wait!
Full Post ----> Here
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How do you cultivate your inner shine in moments of solitude?
In the realm of business, it's often the behind-the-scenes moments that pave the way for success. Here I am, enjoying a quiet moment in this lounge area, donning socks featuring the diamond symbol – a powerful reminder of the importance of self-shine, especially when no one is watching. ????
In the business world, we frequently focus on external accomplishments, presentations, and meetings. But let's not forget the significance of nurturing our inner brilliance. Just like a diamond's facets, each of us possesses unique qualities that set us apart.
While solitude may seem solitary, it's during these moments that we have the opportunity to reflect, strategize, and envision our next steps. Self-care isn't just a personal practice; it's a vital component of professional growth.
These solitary moments as opportunities to refine our skills, clarify our goals, and ensure we're shining brightly from within.
Remember, even in the absence of an audience, our dedication to self-improvement will illuminate a path to success.
Love to hear your thoughts in the comments below!
PS - This is why you don't let me into fancy places by myself...the creativity kicks in ??
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Linkedin Community Shoutouts!
In each newsletter,?I?will?highlight one (or some) of the?comments made by?Linkedin community members?on my posts.?So many great (and fun) comments; so hard to narrow down, as always!
Shoutout to? Alice , James Edwards , Davina Kaonohi , Lisa Apolinski , Lygeia Ricciardi , Benita Lee , Dinesh Chandrasekhar , BlueStar , Bob Samples , Anneliese Olson , Sweta Patel, M.Optom, MS.IST-MPH , Lesli White , Tien M. , Heather CANtor , Chelsea Perino , Dawn G. , Kelvin Beachum Jr. , Ken Saita , Philip Hegarty , Stanley Florence Sr , Steve Burke , Linda Saye , Seemin Qadiri , Lorri Wagner , Suketu Upadhyay , and Ariel Serber ! ?????? ??
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Ryan Patel ?is a global business executive, board member, TV contributor, and host of "The Moment "
Check out his?Linkedin Learning Course: ?"Cultivate a Global Entrepreneurial Mindset in a Remote Working World"
Subscribe to his monthly newsletter?-?"Ryan is Curious" Headlines
Imran Crochemar
Resumes & Get-Hired Strategy ?? AI for Job Search ?? LinkedIn Optimization ?? Talent Acquisition ?? FinTech ?? Payments ?? Recruiting ?? Retained Search
1 年This covers a wide range of interesting topics, from the resilience of small businesses to taking control of our careers and financial futures. Thank you for sharing!
Retired Corporate Executive and Professor of Marketing, with expertise in marketing strategy, food marketing, and sales.
1 年Keep the good stuff coming Ryan!!
Advocate for financial education, literacy, and independence. Advisory solutions and problem solving for businesses; risk management, business planning, building brand equity, capital raising and more.
1 年Great roundup, big topics, excellent content as always. Thanks for the inclusion Ryan, much appreciated
AI Interconnect Solutions
1 年Keep on doing your great work Ryan! We love it! ??