![]() Negotiations are still underway, but barring a deal, the only way to avoid a default might be for Biden to use executive action to render the ceiling moot. The most straightforward way to avoid disaster would be for Congress to vote for a clean debt ceiling increase, as it has repeatedly done in past years, but the Republican-led House has said it won’t raise the ceiling without deep spending cuts and a rollback of President Joe Biden’s clean energy agenda, all of which the president has said is off the table. While the Treasury Department has been using extraordinary measures since January to keep paying US debt, officials there have said those measures could be exhausted by June 1, potentially setting up the US for a catastrophic default later this summer. On Friday, the Congressional Budget Office warned that the federal government could run out of cash within the first two weeks of June. Have a goal to work towards and know that each step you take, no matter how big or small, puts you a little bit closer to making that goal a reality.The debt ceiling standoff is getting very real, very quickly. I’ll leave you with one last piece of advice from Williams to help you get started - take small steps everyday towards what you want. Ultimately, if you're able to come together and you're able to rely on each other, then you're going to come out the other side stronger.” It’s really about relying on people to use their strong suits and to be a well-oiled machine to work together and push through those challenges. “Without the team and the power behind us, it would have been a lot more difficult. “There’s a multitude of roadblocks and challenges that you're going to face on a day to day basis,” Williams explained. Williams credits the great synergy and camaraderie of her team as one of the reasons for their rapid success. Identify the areas of the business where there are gaps and hire people specifically for those positions, then build out the team from there.Ī team also becomes a support system of people you can rely on to get through challenging times. When you build a team, you want to create a group of people who have diverse yet complementary skills. This, along with its affordable price point is what helps it stand out on the market.īuilding a great team can accelerate your path to success, especially in the early days of a company. Yumy Bear’s differentiating factor is that it’s both vegan and low sugar. Some products were low sugar but not plant-based, while others were vegan or plant-based but high sugar. What Williams discovered during her research was that there wasn’t a candy product that checked both healthy and vegan boxes. This is what Williams did with Yumy Bear, as it didn’t have any direct competitors in the Canadian market when it launched. If you’re entering the market with a product that doesn’t have many direct competitors, look for similar options to compare it to. Think about what makes your product unique and how it can stand out. It’s important to identify the differentiating factors between your product and the competition. If you can capitalize on trends that are gaining traction early on, you’ll be able to ride the waves as they grow.įigure out how to differentiate yourself from the rest of the market. Figure out how your product can serve the market now and grow with it into the future. ![]() Look at the trends, paying attention both to historical data as well forecasts and predictions. Think about what’s going to be in demand in the next three to five years. ![]()
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