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The United Capital Source Business Journal

Laundromats have been a constant presence in our communities for so long that the struggles of running them often go overlooked. Monthly expenses are enormous, equipment is constantly in need of repair, and a less-than-perfect location can easily put an otherwise-prepared laundromat into bankruptcy.

Robert Herjavec knows a thing or two business strategy. He earned his spot on Shark Tank by growing his Toronto-based Internet security firm from three workers to over 220 in just over a decade. Herjavec Group raked in approximately $150 million in revenue last year, thanks in no small part to an array of up-to-date marketing tactics.

Business problems that don’t have relatively obvious solutions are often solved by creativity. In these cases, you don’t need more people, more equipment, or more space. What you need are ideas, innovation, or simply the ability to think outside the box. Creative people can implement new methods for boosting productivity while putting themselves in the shoes of customers to understand what will please them most.

The fitness industry is undoubtedly seasonal, but unlike most seasonal businesses, gyms and fitness centers experience not one but two busy seasons. There is a surge in memberships before the summer as well as in the middle of winter. The latter trend is due to New Year’s Resolutions, which produce a mob of new gym-goers, or “resolutioners,” every January without fail.

The auto industry is undoubtedly going through a number of changes, forcing dealerships to take on new strategies if they wish to stay competitive. These strategies obviously come with a cost but current marketing trends suggest the most popular options are indeed worthy investments. Different customers have different demands, and meeting them has proven to be very rewarding, even from a long-term perspective.

Owning a business is naturally embedded with risk but there are certain risks business owners can avoid if they take the time to examine every option available to them. Doing this would reveal that one business's risk is another business's opportunity to take a major leap forward.