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Wednesday
May152019

How Efficient Is Your Small Business?

Between filing taxes on time and hiring the right people, you are going to be running a business, bringing in more clients and managing customer expectations. There are plenty of ways to make your small business as easy as possible to run, and you need to strategize to make that happen.

Efficiency is critical in a business, and

whether you want to be more efficient by managing the way that you handle your customer's data, or you want to be more active in your IT department, you need to learn how you can make your company more productive. Let's take a look at how you can improve the efficiency of your small business.

Delegate Where You Can

Your business can only run for a finite amount of time in the day, which means you need to let go of some of the tasks that you want to get done and allow someone else to handle it. You can click here to learn more about the types of services that you can pay for to take a load off your plate. Small business owners often find it hard to let go of tasks, but by doing so, you can ensure that you are playing to your strengths while someone else plays to your weaknesses.

Go For Automation

Repetition is a thief of time. From typing up the same emails to performing the same marketing tasks, you need to cut the time that's being wasted. Automating the tasks that are on repeat in your business is going to change the way that you work. With automated programs working for you, you can make your business far more efficient than it is right now. Plus, you can free up some time for the tasks that you actually want to do rather than the ones that you have to do.

Focus Is Key

Did you know that flitting from task to task is going to be harder on your efficiency levels than focusing on one task at a time? Take the time to delegate tasks to yourself and make sure you block out the time in your calendar so that you can focus on these things one by one.

Embrace Changes

The worst thing that you can have in your workplace is complacency. You are the central point of the culture of your company, and part of this will mean embracing the ideas of others. Without change, your business will stagnate, and you end up being the type of business owner that digs their heels in and remains in the past. Being willing to make changes as time goes on is how you stay efficient because the ability to adapt is going to ensure you are stable.

Being able to run a business successfully requires you to be as efficient in your processes as possible. You have to pile your energy and your resources into making sure that your business is productive and focused.

Monday
May062019

Count Your Lucky Stars You No Longer Have To Worry About These Old-School Entrepreneurial Problems

Don’t misunderstand: running a business is still tough. But thanks to the changing way in which companies operate and advances in technology, running a business is a lot easier for a mompreneur today than it was for the founders of old. So many more aspects of a company are already taken care of for you, allowing moms to get on with what counts: delivering a great product.

Check out all this stuff that mompreneurs no longer have to worry about. 

Managing Your LLC Company And Tax

If you run an LLC, then there’s nothing worse than having to deal with all of the administrative burden imposed by the government. Worse still, if you don’t comply, you’ll get a hefty fine in the post and if you ignore it, be dragged through the courts. Not good.

But unlike the entrepreneurs of old, you don’t have to deal with any of this. All you need to do is call up a third-party company that manages things like payroll, statements, and tax, and they’ll do the whole lot for you, on time, every time. As an LLC, you no longer have to go through the rigmarole of submitting a tax return or telling the authorities that you’re still in business - you just focus on your work and let somebody else take care of all that for you.

Managing Your Computer Network

Computers can be a mystery, even to the most experienced IT professionals. But now, thanks to the power of the cloud, you can get managed IT services that take care of the whole thing for you. These services not only provide you with software through the cloud, but they also negate the need for you to have any IT infrastructure in-house. These firms deal with the whole lot.

The current market for these services is enormous. The majority of startups now use them because it helps them sidestep large, upfront bills. When you get services delivered over the internet, you no longer have to pay for servers and other expensive items up front. You just pay for the resources you need on a month-by-month basis, and that’s it.

Managing Your Digital Marketing

Digital marketing is a fast-paced and evolving subject which requires your full-time attention if you want to stay up to date. Of course, most mompreneurs have neither the time nor the inclination.

The good news is that there are thousands of companies out there who offer digital marketing services. Most of these companies will do anything you want, from SEO boosts for your website to better social media engagement. Some specialize in areas like reputation management and marketing for specific sectors, like dental practices.

One of the good things about these services is that they are much better at delivering results than most people are by themselves. Firms already have a network of websites that they can use to provide backlinks, as well as professional writers who can whip up any content you want in a matter of minutes.

In summary, there are many reasons for mompreneurs to be grateful.

Tuesday
Apr302019

Do Businesses Really Fit Into The Ever Changing Marketing World?

Marketing your business has seemed to have gotten harder and harder. It’s a digital world these days, and that means a lot more competition is on your plate, and the rate at which the world moves on to the next best thing is faster than ever. How does a small business like yours keep up?

Well, by studying the patterns of this ever changing marketing world, and finding a place to fit yourself in it. After all, there’s lots of successful ways to advertise your business out there, and you could use any one of them to reach the customer base you know and love. Both old and new tactics have great rates of effectiveness, and you need to know which ones have the most legs for your personal company needs.

So here’s to exploring the ever changing marketing world. You’ve got a lot of work to do, and a lot of effort to put in, so let’s make sure all that doesn’t go to waste.

So, How Fast Does the Market Change?

It’s been about ten years since Facebook allowed its users to upload their own photos to the platform, and since then, the world has gone hungry for both social media and the technology that allows us to access it. And that’s the crux of the marketing situation at the moment - everyone has their own little internet portal they can craft to show off the perfect elements of their life, to tell the whole world what they like and don't like, and who they follow, and the internet algorithms target them with specific adverts as they go. It’s a fast paced world, and you’re won’t get the same adverts on your page two weeks running.

This little example only goes to show that the market can change fast, and as consumers, we forget what came before. Do you remember the ads on your Youtube recommended section last week? Think about the tech that’s been and gone in that same ten year period: How long were we using blackberry phones until their stock crashed, and we’ve not heard a peep out of the company since? The peak of their popularity occured between 2009 and 2013, before Apple and Google overtook them - that’s only 4 years before the market moved on to something bigger and better.

What Does the New World Look Like?

The new marketing world is a digital one, and it’s only going to get more and more technologically minded. The allegations that your Alexa or your Smart TV have been listening in on your conversations, even when turned off, to bring you adverts that are so specifically targeted it’s like your house is bugged, are a scary thing to think about. Especially from a small business marketing point of view.

How do you compete with the corporate giants out there, who have the tools to constantly monitor a consumer’s profile, and who are capable of changing their vast algorithms overnight to constantly fit the market? Reading up on Slybroadcast might reveal a thing or two, but when you properly consider how intrusive advertising can become, you can offer an alternative.

You can offer the customer a step back, and instead outright ask them what they want from you - surveys, customer reports, answering their feedback on review sites etc., all prove popular with the current shopping generation.

What Old Techniques do People Still Respond to?

Because we live in an ever changing marketing world, we can simply discard the oldies and goodies of the advertising efforts of yesteryear. And that’s a mistake a lot of us can make. It’s tempting to think that anything a business from the 40s or 50s did would not work on the generation we’re serving, but it’s a misconception you should use to your advantage.

There’s still some older marketing techniques out there that work, such as word of mouth. If you have a small business, you’ve got the chance to really take the time to impress a customer. And when you do, they are guaranteed to go out there and spread the word about how well you treated them. Don’t ever underestimate the power of gossip and conversation within a community; it keeps small businesses in business more often than anything else!

So, do all the new and small businesses being started every day really fit into the advertising world we know? In some ways, yes, and in some ways, no. You have to change with the way we market, after all.

Wednesday
Apr172019

5 Tips To Avoid Small Business Bankruptcy

Running is a business is expensive, even if you're operating as small as is possible. If you've found yourself struggling with finances when running your self-started business, you're not alone. Bankruptcies in the U.S. increased to 25,227 companies in the second quarter of 2016, from 24,797 companies in the first quarter of 2016. Thousands of companies struggle to stay afloat, especially those that are run by independent business owners. Use these tips to help you make ends meet and keep your doors open.

Watch Your Credit Limit

While it can be tempting to put business expenses on a card and say "I'll pay it off later," this can be one of the most devastating habits for your business. Debts add up surprisingly fast, and putting it on a credit card just puts off the stress until later. A maxed-out credit card uses 100% credit ratio, but FICO recommends that your credit utilization ratio should not be higher than 30% of your original credit limit.

Slim Down Spending

Take a good long look at what you're spending on every aspect of your business, from leasing your space to paying for advertising. Some of your expenses likely can be cut down on, if not eliminated entirely. For example, you might be able to manage your online presence yourself, especially since 96% of consumers cite design over content as the main reason they trust a site.

Review Your Business Plan

Just because your business is struggling doesn't mean it's time to scrap the plan entirely. Go back to your original business plan and compare where you are now to what your goals were. If you find that you've strayed from the plan, see what changes you need to make to get back to where you wanted to be. If you're on track, but things don't seem to be working, it might be time to revise your original strategy.

Sell What You Can

Who doesn't love a yard sale? Chances are, you've got a few spare items sitting around your workplace that are taking up space without being used. Set up a yard sale for your business, or post listings online for items you no longer use. This will free up space in your workplace while also giving you a bit more capital to work with.

Come Up With A Strategy

Arguably the worst thing you can do for your business when you find yourself drowning in financial problems is nothing. Ignoring the problem or acting like it's going to get better on its own is a one-way ticket to bankruptcy. As soon as you notice your business struggling to make ends meet, it's time to come up with a plan of action. Don't wait until it's too late to address your financial issues; get a head start whenever you can.

Managing your finances when you own and operate a small business can be a struggle. However, when debts start to catch up with you and you're struggling to keep the lights on in your business, it's good to have a few tips you can rely on to stay afloat.

Friday
Apr052019

10 Tips For Forex Trading Success

There are plenty of ways to make money, but it’s true that, in some instances, the chances of being successful are against you if you’re not already in a fortunate position. Take property, for example, which can be a fantastic money spinner. If you’re not already rich, then how can you afford to buy a house to rent out or sell on? Similarly, if you have limited capital, then it can be difficult to get a company up and running. Fortunately, there are options that have a low barrier of entry, like Forex trading. You can begin with as little money as you like, though it’s better if you have $500 or so to play with (in order to make the potential profits worth your time).

If you’re new to the game, then it’s important that you’re following some essential rules to improve your chances of becoming successful, which, of course, is never guaranteed. Below, we've outlined ten tips that are important to keep in mind.

What’s Your Goal?

When it comes to any type of trading, including Forex trading, it’s important that you have in your mind a target that you’re trying to reach. Some people begin trading just out of interest or because they think it’ll lead to profits -- yet, while this approach might help in the short-term, it’s not getting to lead to effective long-term practices. You may be putting money away for your retirement. You may want to boost your income. Whatever it is, a realistic target will give you something to aim for, something that’ll keep you on track.

Start Slow

The world of Forex is complicated, and anyone who tells you otherwise is not telling the truth. While it’s tempting to get lost in a daydream of possibility when it comes to profits, it’s important to remember that this is a field that can take years to master. Once you’ve had the initial thought, keep it there for a while -- the more you read and understand what’s entailed, the closer you’ll step towards being able to trade this way. You’re not going to gain anything by rushing into it, but you might lose your initial investment. Stay smart.

Currencies You Understand

The beauty of Forex trading is that you can trade in currencies from all over the world. This is why the market is so appealing -- there’s some $5 trillion floating around there! But actually, the portion of that market that you should be focusing on should be much smaller. While you might be tempted by, say, the New Zealand dollar, if you’ve never held one of them in your hand and have limited (or no) understanding about the value, then it’s better if you don’t trade it. Instead, focus on currencies that you already know. The US dollar is, of course, a popular option, as are large currencies such as the euro. You may eventually gain a pretty solid understanding of other options as you progress, but in the early days, keep things simple.

Control Your Impulses

The downfall of most people, when it comes to trading, in fact when it comes to most things, is their greed. They get carried away by the possibilities, and leave their logic at the door. It’s never a good idea to make a financial decision that’s based on emotion, for the simple reason that emotions usually betray us! As such, it’s worthwhile learning how to separate your emotions from your decision making. An excellent tool is meditation. A lot of the world’s best investors and minds rely on it to make better decisions. It’s easy enough to begin, and can help in other areas of your life too!

Get the Right Tools

As we’ve already said, forex trading can be complicated, even to someone who has plenty of experience. As such, it’s important that you have the right tools that’ll help to demystify the processes, and allow you to make informed decisions. One such is Metatrader 4 from FP Markets -- it’s a platform that’s designed to give traders a subtle advantage when it comes to Forex. With real-time quotes, news, and market insights, it’s an essential tool for traders. Elsewhere, it’ll be beneficial to have software that allows you to keep tabs on your finances -- those profit margins will be a valuable insight into your level of success.

Get Studying

There’s plenty of potential for making money when it comes to trading, but it won’t just come your way. This is a complicated field that demands that the people who succeed have done their homework. Before you begin trading and during, make sure you’re reading as much as you can about the various approaches one can take. A good idea is to add the best books about forex trading to your bookshelf -- there are some essential reads that cover everything from getting your career underway to advanced approaches.

Track Your Results

It’s easy to get wrapped up in the excitement of trading, but don’t forget that this is a results business. At the end of the day, it’s that final number -- your profit number -- that counts, nothing else. As such, it’s important that you’re closely tracking your results. As well as giving you an insight as to how well you’re doing, over time you’ll begin to get insights about the trades that worked for you.

Join A Community

As you might expect from a market that’s so large, there are plenty of communities, forums, websites, and more available that’ll connect you with other forex traders -- these exist in the real world as well as online. All throughout your trading career, though especially in the early days, they’ll provide invaluable advice, tips, and insights that’ll help you move forward. Remember to contribute -- you’ll get out what you put in.

Play the Long Game

If you were thinking that forex might be a path towards wealth, then we’ve got some bad news -- it won’t be. There are no fast money-making options in this world! If you’re going to trade in currencies, then you’ll need to be patient. It’s all about playing the long game. Moving slowly allows you to understand, inch by inch, what’s involved in becoming successful. The focus, when it comes to forex trading, should be to make small profits -- it’s about trying to catch multiple small fish, rather than one heavyweight. If you’re willing to sit out there with your rod for long enough, you’ll return home with your fair share!

When To Step Back

There are only two sure things in life: death and taxes. Everything else is unpredictable. Though you may do everything by the book, there’s always a chance that it won’t work out, or that you make one critical error that sets you back. Indeed, if you’re trading forex for any significant period of time, you’re going to make mistakes -- no one gets every step they make correct. That’s not what’s important. What matters is that you know when to step back. If you’ve had a few losses, go back to the drawing board, read some more, and go back with a more robust approach.

Conclusion

With so much money spinning around the market, it’s little wonder that forex has proven to be a popular option for traders. If you’ve been convinced to enter the great game, then start taking our advice. Get reading, figure out the amount of money you can afford to lose, and get investing. It might just take you on a journey that you had never expected.