To be able to run a successful small business, you need to discover more about your customers, your competitors as well as your market. Industry analysis is the procedure of examining information to help you understand which services and products have been in demand, as well as how to become more competitive. Market research can also provide important insight to assist you to:
Reduce business risks
Spot recent as well as imminent challenges within your marketplace
Identify sales opportunities
Tips on how to Conduct Market Analysis
When you start your enterprise, be aware of the basics connected with market place analysis by simply following all these measures:
Identify Recognized Federal Sources of Sector and Business Info
The united states government supplies a wealth of information and data about corporations, sectors plus monetary issues that will help during conducting market exploration. All these options offer beneficial details pertaining to customers in addition to contenders:
Income and Earnings
Identify Additional Sources of Analysis
Trade organizations, business enterprise newspapers, academic institutions and various third parties collect and examine research information with regards to business developments. Utilize Internet in addition to database queries to seek out details relevant to where you are and marketplace.
Understand the Global Market place
Today’s economic climate is actually a globalized market, consequently it’s important to be aware of the intercontinental aspects that have an impact on your company. These resources allow you to analyze prospective international market segments with regards to your merchandise:
Market Research Guidebook intended for Exporters
Identifies helpful information for company proprietors attempting to sell their goods to foreign countries.
Country Market place Research
Reports on trade factors inside countries worldwide.
Assists U.S. firms discover new international business relationships.
As you open the doors of your business for the very first time you will be struck with the responsibility of making decisions. They will come from every direction and it will seem incredibly overwhelming. Each and every choice you make could have a significant impact on your business, and making the right decision could determine whether or not your company lives to see tomorrow.
Though this may seem daunting, there IS in fact something that you can do about it. Rather than making all of those choices on your own, you should consider taking on a business mentor.
The Role of a Business Mentor
So what is a business mentor exactly? How do they help you? The thing to remember about business is that no matter what you are facing and no matter how hard it seems, there is someone who has been there before, and they have not only faced the challenge; they have actually succeeded. Now there are those who might say that the best way to overcome a challenge is to take it on yourself, but seriously, why do that when someone can just give you the answer and you can move on? A business mentor is exactly the person to do this, and they will help you with no benefit to themselves other than the satisfaction of seeing you succeed.
The Process of Finding a Mentor
Government Based Mentors
Believe it or not there are actually a number of government organizations that will help you to find a mentor, especially as a small business owner. These mentors can be obtained either online or in person:
- SCORE: This organization is sponsored by SBA and provides free, confidential mentoring to the aspiring business owner. This is accomplished through a nationwide network of executives, leaders, volunteers, etc. SCORE is a multipurpose organization, providing mentoring either online or in person, whichever is more convenient for you.
- SBDC’s: This is a small business development center, and it is designed to help small business owners find their footing. With an SBDC you can obtain financial counseling, marketing advice, and other guidance. In fact, some SBDC’s will actually assist with information technology, manufacturing, etc. There is a lot to learn, but there is no reason or you to learn it by yourself.
- WBC: It is recognized that women may have unique needs in business, particularly in the entrepreneurial side of things. A Women’s Business Center will help women to start and grow their small business with the aid of nearly one hundred educational centers. This source of support is particular key if you’re thinking of pursuing one of the much sought after business grants for women.
- Veteran’s Business Outreach Centers: The centers supply veterans with small business development services such as business coaching, consulting and mentorship.
- Minority Business Development Agency: specialized advisors help minority and underserved population company owners gain access to contracts, market research, capital and entrepreneurial consulting and mentoring.
Looking for more? Don’t worry, there are plenty of additional programs out there to provide assistance, all of which can be found at Business.USA.gov.
Taking Advantage of Trade Associations
There are many trade associations that work to offer mentor services which will undoubtedly help you to build your business with little to no problem. Typically, such programs will be conducted through one on one mentoring sessions, and there are also group sessions for those who are interested. For an even better experience, business owners can be connected with several different mentors.
Government Contractors Mentoring
Selling to the federal government is an entirely different task and you might need a special mentorship to participate in such business transactions. The General Services Administration does provide a program which will encourage the larger contractors to aid small businesses in their endeavors.
Inside Your Own Network
They say it’s “all in who you know”, and that is not incorrect. Do you have an old boss that inspired you? What about friends or acquaintances? You can’t be the only person you know that has ever tried to start a business, and perhaps some of your network has been successful. In this case, you should seek advice from within and make sure you follow the words of those who have already made success for themselves.
One on One with a Mentor
Once you do make the leap of faith and start speaking with a mentor, make sure that the relationship ill be mutually beneficial, and of course, mind the following tips:
- Don’t waste the mentor’s time by not being prepared!
- Know how to run your business properly; your mentor should not be running the business or making decisions for you.
- Plan everything in advance. Before your session is actually scheduled, make sure you plan every single thing in advance such as your business goals, obstacles you are facing, or even regulatory requirements that you donít understand. This goes hand in hand with being prepared and not wasting the mentor’s time.
- During the session, make sure that you take notes and review them later on.
- Finally, when the session ends, thank the mentor for their time and assistance.
You’ve begun to investigate funding for a small enterprise. You started talking to friends and family, banks and even looked into the possibility of business grants for women. But, do you really have what it takes to run your own business?
Starting your own business can be an exciting and fulfilling adventure. It can certainly offer many advantages like actually being your own boss, setting up one’s own routine and earning money doing activities that love. Nevertheless, learning to be a productive business person calls for extensive planning, imagination and diligent work
Think about whether you possess the required qualities and abilities often related to successful small business owners:
- No problem with taking risks: Being your own boss means you’re responsible for handling challenging decisions. Entrepreneurship involves uncertainty. Are you someone refrain from uncertainty at all costs? If that’s the case, then entrepreneurship is probably not the perfect life pursuit to suit your needs. Do you like the thrill relating to taking calculated risks? Then you should read more.
- Self-aware: Entrepreneurs need to make a whole lot of decisions independently. If you learn you can depend on your intuition – and you’re unafraid of obstacles every so often – there’s a chance you’re on your way to becoming an business owner.
- Engaging: You could have the biggest concept on the planet, but if you are not able to sway buyers, workers along with future banks or business partners, you may find business building to be challenging. If you enjoy presenting and public speaking, interact with new people with ease and find you construct compelling propositions based in facts, it’s doubtless you’re ready for making the innovation come to life.
- Adroit at negotiation: As a entrepreneur, you have got to negotiate everything from rental agreements to contract terms to pricing. Refined negotiation expertise will help you reduce costs and keep your small business operating smoothly.
- Creative: Are you able to imagine innovative ideas? Do you envision completely new different ways to remedy challenges? Business owners need to be able to think innovatively. For people with experience on the way to profit from modern options, business ownership may be a good match.
- Sustained by many others: Prior to starting a business, it’s crucial that you have a powerful support system in place. You’ll have to make many critical actions, mainly in the first few months of opening up your business. Unless you have a very good support network of individuals that may help you, give some thought to looking for a business mentor. A mentor is normally somebody that has experience, successful and willing to deliver guidance and advice. Study the Measures to locating a Mentor document for help on getting and working with a a mentor.
Continue to think you may have what it takes to become a business owner and begin a new organization? Great! Finally contemplate these twenty questions to help ensure you have considered the most suitable financial and business details.
Facebook is a marketing platform which is truly available to anyone and everyone. You can reach people from all over the world. This article is going to assist you in coming up with a strategy that helps you to succeed in Facebook marketing.
When you publish something on your website or other social media accounts, link to it from your Facebook page. For example, link your blog to your Facebook so that a summary of every post appears automatically on your page. It’s also possible to rig it so that any time you post a tweet, it is immediately posted to your Facebook wall.
Make a group rather than a page. Launching a group on Facebook may inspire subscribers to start their own community online and interact with one another. Allow your subscribers to post content on your Facebook page.
Always be sure that you’re answering things when people ask you questions or leave you comments. Thank the person for taking the time to contact you, and do your best to provide a helpful answer to their question. Share links to your business’s site or Facebook page if you have the information they need.
Have you looked into using custom tabs on your Facebook page? The tabs let you organize your page information to make it easier for customers to navigate. If your business is holding an event or sponsoring a contest, including a tab makes sure visitors know about it.
The key to successful marketing with Facebook is having a strong base of fans. You don’t need to spend much money until you’ve gleaned 5K fans or so. This will allow you to market to a larger audience so that your expenses do not go to waste.
Consider buying advertisements on Facebook. Make your ad targeted to a certain gender or age. You can control the budget, and the amount of effort put into it is completely up to you. Additionally, you don’t have to make a commitment that’s long-term. You have the ability to stop the ad at your convenience.
Be aware of when it is appropriate to post on other Facebook pages. If you post on someone else’s page, it can lead to attention. Just be sure you’re getting positive attention. Only post to another page when it is valuable content. Avoid spamming because this will just annoy people.
Contests are a fun way to build an audience. Provide a freebie to those who sign up for a mailing list or even just to click “Like”. It doesn’t cost much, and it is a great way to reach out to customers.
Figuring out what marketing strategy works best for you is the first step. This article showed you several useful strategies that have worked for pros. Don’t ignore them; put them into practice as soon as possible!
For a lot of folks, Facebook is somewhere to waste their time. It can really be a profitable use of time for you when you put it to work as a marketing application. Millions log on to Facebook every day. By utilizing effective strategies, you can attract these people and obtain incredible results for your business. The information in this article will allow you to realize Facebook’s marketing potential.
Sponsoring a contest can be a fantastic way to get more followers on Facebook. Take advantage of this great idea. Provide discounts and prizes to those who give your page a “like.” Be sure to follow through on any promises you make.
When using Facebook to market your business, always remember to post in a professional manner. Even though Facebook is pretty relaxed, do not let yourself become too lax in your posting. People are going to trust your business when you remain professional.
You can improve the value of your Facebook page by changing the tabs to suit your business. Such tabs let you arrange information on the Facebook page in a manner that works well for your visitors. For example, a contest can have its own tab so that it stands out.
Custom Audiences can help you gather together all of your followers’ email addresses and send specific advertisements just to them. Conversion rates go up and costs go down thanks to leads more easily being turned into sales.
Make sure that you focus on quality when updating your page. Your followers will lose interest quickly if the content in your updates routinely has no value. Make sure your updates are helpful, educational or entertaining. Look at the information on Facebook Insights in order to determine which updates have been most successful. Then, you can give your readers more of the same content.
While many people use Facebook as a means of playing games and sharing quotes, it is a great way to increase your business. Since you have looked at the article above, you can use Facebook as a helpful marketing tool. If you use what you have learned to your advantage, incredible things will follow.
The ability to easily contact people around the world is what makes Facebook so popular. Facebook is so popular, that it is a marketing medium best not ignored. Keep reading for helpful tips on using this venue successfully.
Interact with your fans regularly so you know what it is they want. Take everything that is posted into consideration. Successful businesses often get their best ideas from potential customers. Don’t ever ignore your fans as they have a good idea as to what they are looking for.
Reply to any comments left on your wall. This should include monitoring the wall comments as well as @ messages concerning your company. When it is someone complaining, you must reply immediately.
You don’t necessarily need a page, a group may be better for you. Starting a Facebook group may actually urge your existing subscribers to build an online community of their own so that they can interact. Do not hesitate to use a page and a group so your subscribers can receive your updates through your page and share their own content on your group.
When you utilize Facebook Offers, you are able to promote freebies and contests you’re running on your site. All that you must do is give them the offer and then set up a Promo Post on the wall of your Facebook page. If the offer is good enough, promote it to those who aren’t fans, too.
The first step to success with Facebook marketing is having a solid base of fans. That means you really shouldn’t put too much investment into marketing products or promotions there until you have at least 5,000 fans. If you have that may fans, you can see some real success.
You can offer prizes for Facebook “likes”. You can gain a large amount of attention quickly by the use of the “like” button. Think about offering something people are going to be interested in. It could be something everyone gets or even a sweepstakes. If the incentive is something that they value, they won’t hesitate to click on that “like” button.
Respond to any comments in your inbox or on your wall. Respond to those who have taken the time to contact you. Think of Facebook posts in the same way that you think of phone calls: you respond to them and answer questions about your business.
Be sure that all of your posts have useful information. Link to great deals, new product information or the latest cutting edge updates to give your fans something in return for the time they spend on your page. Refrain from promoting your brand too much, as this can get frustrating.
Ensure there are easy to find areas in your Facebook page so followers can sign up. This will allow them to register for contests easily. Use contests or freebies to entice them to give you their contact information.
Since so many people are using Facebook, you should be, too. Whether you are a small business or a start-up, there are ways to use this marketing for your benefit. Keep these tips in mind to get more from Facebook marketing.
Social media is something that has become very popular in the last few years and that’s why Facebook marketing is a good idea. Knowing how to effectively use this tool is important. This article contains valuable information on conducting a social media marketing campaign.
A great way to interact with your subscribers is to respond to their comments on your wall. You will have to closely monitor your wall and watch for @ messages pertaining to you. Make sure to reply to all inquiries or complaints.
Be sure that anything that you post online has a link to your Facebook page on it. If you’re a blogger you should put a link to your Facebook page at the end of your posts. It’s also possible to link Twitter to Facebook so that all your tweets display there too.
Do not let spam overtake your page. You can monitor your page by using filters, even if you are not online. Any administrator can type in keywords using this tool that will automatically filter it out.
Consider Facebook as a good way to share your content. It’s not all about chatting it up with your friends; it’s also a great place to share content too. Use it in that way for your brand. Use Facebook to promote your blogs from other channels. Facebook usually drives up a bunch of traffic.
Utilize custom tabs. You can use these tabs to put like-minded information in a particular spot and this will improve the layout and effectiveness of your posting. For example, if you are holding a contest, you can include a tab for the contest information.
Consider buying a Facebook advertisement. You ad can be customized to be shown only to certain ages or genders. You may also use a given budget and do a lot or a little as you can manage. Finally, there is no long-term commitment. Your ad can be ceased at any time.
Most people market on Facebook because they want to improve their sales. Setting monthly goals will help you do this. This will help you to increase the amount of money that you bring in. Try switching your strategy if you’re not seeing an uptick in business.
Be sure that your posts offer some value. Link to great deals, new product information or the latest cutting edge updates to give your fans something in return for the time they spend on your page. Avoid too many postings that show on their feed so that your fans won’t be tired of your name showing up.
As this article has shown you, it really isn’t that hard to use Facebook when you want people to get interested in something you’re selling. The thing you must remember is that you won’t see results right away. Start off slowly and implement what you’ve just learned.
Facebook has become a very popular social media network. Millions join daily, and there are millions already on there. Due to this, you can put your business on Facebook and use it to show the world what you have to offer. This article shows you how it’s done.
Use a contest to build talk about your brand. Give away a desirable product to get people excited. Make an announcement of who the latest winner is, and whenever you want to bump up your subscriber base, use this strategy.
Make sure that all content you publish online is at least linked to from your Facebook. If you write a blog, make sure that new posts appear on Facebook. Link your Twitter and Facebook pages to have your tweets posted on your page.
Consider creating a Facebook group rather than just a page. Launching a group on Facebook may inspire subscribers to start their own community online and interact with one another. You can use both of these options to keep your customers informed about and involved in your business.
Use the custom tabs to maximize your Facebook marketing efficiency. These allow for increased organization, making your page very user friendly. When you run a contest, put it on its own tab, for instance.
Think through your updates before you post them. If your updates have no value, your subscribers will lose interest fast. Keep your updates helpful, educational, or entertaining. Utilize Facebook Insights to learn which updates have the best success so you will be able to give your audience something similar.
If your need for customer interaction is not a regular thing, then a Facebook page will not be of benefit. Random customers have no incentive to keep up with your posts. You should definitely be focusing on targeted Facebook ads.
Your want to post content with value. Stated otherwise, all followers ought to gain something from your postings, even if it is just a helpful hint or a bit of advice. Don’t make every post an ad, though.
Regularly update your Facebook profile. Whenever there are changes in business information, change it on Facebook. An outdated profile page will give the impression that your Facebook page is out-of-date and not useful. You might want to change some items on the page, but people will love those updates.
As was stated earlier, Facebook can allow you to reach tons of potential customers. After reading this advice, you are ready to start using these ideas right away. Get started with your new Facebook marketing strategy today.
People worldwide seem to be obsessed with Facebook nowadays. That means that you are able to reach a lot of people by marketing on Facebook. If you’d like to be more knowledgeable on this subject, then this article will be helpful.
It is crucial that you regularly interact with your followers. If a person takes time to post on your page, make a note of what they said. Many businessmen that are successful have received great marketing ideas that work from the general public. Don’t ignore your fans.
Offering contests is an effective way to increase your fan base. Offer users prizes and discounts in exchange for encouraging people to like your page. Follow through with your prizes and discounts, or you will lose customers.
Avoid allowing spam to take over your Facebook page. Take advantage of filters which allow constant monitoring of your Facebook page, even when you are away. If you have different page administrators, they can help you with this.
Think about making a group rather than a page. Creating a group on Facebook will make other people more likely to start a community with each other where they can interact. Always try to have a group and a regular page so that you can give your subscribers updates and allow them to mingle with each other, as well.
Never ignore a message that someone sends you. Thank the person for taking the time to contact you, and do your best to provide a helpful answer to their question. Share links to your site or FAQs page to help answer common questions.
You need a good fan base when you are using Facebook as a marketing strategy. This means that you shouldn’t waste time really marketing services, products or offering promotions until at least 5,000 followers are achieved. After you hit that many people you should see your conversion rates start to rise.
Sometimes, you need to post stuff about your brand other places besides your own page. This can really help you to gain exposure. Make sure your posts get the attention you want. Only post things that are worthy of posting. Make sure that you avoid spamming other pages.
Be sure you give your business some personality. If the information you post is bland, then people are going to think this about your business and products. You need to retain your professionalism all the time, but give your company a bit of sparkle.
As mentioned before, there are millions and millions of people with Facebook accounts. You might be surprised how well Facebook marketing works to promote your product or service. Just apply the advice from this article and get ready to see things improve.
Facebook is widely used in the United States. But, it can also be used to boost business. Facebook gives you some good ways to get yourself out there. Whether you’re paying to advertise or not, you will find the following tips to be useful.
Give away free items to loyal or potential customers. Offer these free items to those who subscribe to your page. Post who the winners are to your Facebook page; do this often to grow your business.
Always be sure that you’re answering things when people ask you questions or leave you comments. Make sure to give helpful answers, and thank them for their time. Share links to articles if they answer questions posed on your site.
The custom audiences feature allows you to upload an existing email contacts for your customer base and target ads towards them. This is a good way to improve your conversion ratio and reduce what you spend to develop your campaign.
Do not leave out people that are already fans. Some marketers focus on getting new subscribers instead of taking care of their exist audience. For powerful Facebook marketing, you need an audience that feels respected. Communication leads to a great relationship with your customers.
Companies that only deal with customers occasionally, such as real estate agents or car dealers, do not need to have a Facebook page. Your clients really have no need to follow you on Facebook since they generally only deal with you once and they’re done. Invest in targeted Facebook ads instead.
Make sure you answer posts and comments on your wall. It is important that you acknowledge that a person who takes time to interact with your business is important to you. You would not ignore phone calls, so why would you ignore Facebook posts?
This article has hopefully given you some solid information to help you get started with your marketing campaign. Using Facebook to assist with your marketing does not cost a lot of money, it just takes some time. The sooner you get onto Facebook, the better your chances of getting a jump on your competitors. You never know when they might start up their own page!
Facebook is very popular because of how it brings people together. Use this power of the Facebook platform to market your business more broadly. Continue to read to learn how you can use Facebook to your best advantage.
Hold Facebook contests. Prizes will open the eyes of potential customers out there. Just be sure you actually follow through or your business will not be trusted.
If you’re marketing your business on Facebook, you should be professional about it at all times. Even though Facebook is pretty relaxed, do not let yourself become too lax in your posting. If you stay professional, people will trust you.
When marketing through Facebook, you’ve got to make your page stand out from the competition. Add pictures and color. People are much more drawn to decorative pages than plain ones.
Think of Facebook as a way to share content. It can be used for so much more than chit chat. Think of it in this manner. Use it to write full length blog-like posts, and even promote your website’s posts via your Facebook channel. You will see that Facebook brings you a great deal of traffic!
Another option, besides a Facebook page, is to create a Facebook group. Starting a Facebook group may actually urge your existing subscribers to build an online community of their own so that they can interact. Don’t hesitate to create both a page as well as a group so that your subscribers will be able to get information directly from you.
When someone sends you a message or comments on your page, reply to it. Try to answer their question with a helpful answer, and thank that person for contacting you. Don’t hesitate if you find a link that leads to an answer, even if it’s not something you’ve written.
A fan base is a must before you begin marketing on Facebook. Wait until you have a decent number of fans before you invest a lot of money in marketing. When you hit that mark, your conversions will start happening rapidly.
Don’t forget the people that are already subscribed to your page. Lots of folks worry so much about attracting new followers that the previous customer group falls by the wayside. Your audience must feel respected. This will help fortify your brand and personality.
Sometimes you’ll need to post on Facebook pages that are not your own. This can really help you to gain exposure. You need to make sure it is good attention. You should be posting when there is something important to say. Avoid spam at all costs.
Instead of looking the other way when it comes to Facebook, start using it to your advantage. Facebook marketing works for businesses both large and small, local and global. Keep these tips in mind in order to maximize your Facebook marketing efforts.
The ability to easily contact people around the world is what makes Facebook so popular. You need to use it to market to those millions of users. Keep reading for ideas that you can use on Facebook for your own marketing messages and goals.
Facebook Offers allows you to promote contests or free giveaways to your customers. Set up your offer and turn it into a Promoted Post on your wall. If the offer is especially awesome, consider promoting it to Facebook in general as opposed to just your following.
Always answer to the comments and questions people send you on Facebook. Be appreciative that they took the time to write you, and answer their inquiry in the best manner possible. Share links to articles if they answer questions posed on your site.
Improve the Facebook marketing interface of your page using custom tabs. These tabs will let you keep things organized better on your profile page so that people can easily get the information they need. For instance, your current giveaway can have its own tab that lets your followers know how things work.
Make sure to build a fan base when marketing on Facebook. This means that your focus should be on building your follower count until you have around 5,000 people following you. When you reach that goal, you get more followers from promotions.
Choose your updates very carefully. Subscribers will get bored if your updates contain no value. Your updates should be educational, helpful or entertaining. Facebook Insights can help you keep track of which updates are particularly popular, allowing you to try and repeat your success time and time again.
You don’t need a business page if you don’t have many frequent repeat customers, such as a Realtor or car salesman. These clients only show up every now and then, so they are not interested in following daily posts. Try making your ads on Facebook.
Respond to any comments in your inbox or on your wall. If someone reaches out to you, they deserve to be acknowledged. It’s like a phone call: you would never leave it at a message left on your machine, would you?
Instead of ignoring Facebook and its marketing potential in improving your business, embrace the fact that this method is very effective. Whether your a start-up, or large corporation, Facebook marketing can work for you. Keep this tips in mind to take full advantage of Facebook marketing.
Lots of people use Facebook as a means of passing the time. That said, you might be able to turn time spent on Facebook into money if you make use of it to market products and services. Tons of people are on Facebook every day. If you are able to reach out to those people then the results will be amazing. The following article will teach you all there is to know about Facebook marketing.
Holding contests is a great way to expand your Facebook fan base, so do your best to take advantage of it. Provide fans with coupons or even a product when they share or Like your page. Always follow through with any contest. If you say you are giving away a prize, make sure you do so.
Be sure that anything that you post online has a link to your Facebook page on it. If your site has a blog, include a summary and then link the posts automatically via your Facebook. Connect your Facebook page with your Twitter profile to have your tweets posted to Facebook.
Consider Facebook as a good way to share your content. It’s for more than sharing photos and playing games. Think of it as such. Compose actual blog postings and make sure your posts are promoted via other channels as well. Facebook will bring you a great deal of traffic if you do.
One way to target your customers with specific ads is to add your email list to the “custom audience” feature on Facebook. This increases your conversion rate and lowers the cost of your campaigns as many more of the people you advertise to will convert from leads into full fledged sales on your site.
It is important to have a lot of followers when using Facebook as a marketing tool. This means that your focus should be on building your follower count until you have around 5,000 people following you. Large numbers of fans will cause the rate of conversation to skyrocket.
Give someone something valuable if they “like” your page. Likes can get your Facebook page a lot of new attention. Think about offering something that is free and exclusive when they “Like” your page. You can offer a discount on your products or even give a free item. People are more likely to respond to your requests if you give them an incentive that is worth their time.
A company that deals with their customers occasionally, such as a Realtor or automobile dealer, really will not benefit from a Facebook page. Those customers are random, so they do not have any reason to read your daily posts. As an alternative, consider advertising on Facebook instead.
A lot of people are on Facebook to game or quote but you can make money! Facebook can help to jump start your business. The limits are endless if you use the knowledge you’ve gained.