Category: Financial Literacy and Money

Getting Prepared For The Unexpected

The first principle of my blog is Creating Ecosystems of Success, and two key focuses are Financial Literacy/Money and Health/Wellness. In life, we never know what is going to happen which is in part exciting but problematic at the same time. It is likewise important to understand this, and to try to figure out ways to be proactive about the unexpected. The following contributed post is thus entitled, Getting Prepared For The Unexpected.

* * *

Image by stevepb on Pixabay

While it’s great to think positively about the future, it’s also good to be prepared for the unexpected as you never know what might happen – good or bad, it could be an unplanned pregnancy, a new job opportunity or you could lose your job, have an accident or get ill? Any of these events could have and probably will have a significant impact on your finances. So, are you prepared?

Be Realistic
Nobody plans for illness and no one prepares for a tree falling on their car. However, if you do prepare for unexpected events then, you’ll know how to deal with them, it won’t be such a shock and will hopefully mean you have some money or people or access to cash or the right people to help you through it. It’s tough to focus on adverse and traumatic events until you have to, however, if you do and you can think about what could/might happen, and what you would do about it, mentally walking it through, it can help you to work out what you might need.

Start with an Emergency Fund
A priority step for preparing for the unexpected is to have a substantial emergency fund in place. Your emergency fund should ideally cover you for 3-6 months of living expenses. If you are single, or you are a single-income family, you may want to consider building an emergency fund of up to a year, which will provide security for you and your family should you lose your job and have a hard time finding another one, or suffer an unexpected illness or gap in your earnings.

It is nice to know you have the money there while you are dealing with other issues such as job loss, illness or anything that might affect your income. Think about what you already have or is there anything you can sell, can you sell annuity payment for example? Do you have any money coming in from an inheritance that you could put by in case of an emergency?

Think About The People You Know
Professionally and personally, do you have people in your life who will be willing and able to help you if you need them? Do you know people to give you advice, coaching, or counseling? Each person you know will be able to offer something different; some people will be great at providing practical help such as meal deliveries, or personal friends who will stop by your home to help out. Having a support system can be invaluable when an unwelcome event occurs.

What About Your Job?
If you have an accident or fall ill and find yourself having to be away from your job for an extended period, this can add additional stress as you might be worried about your work, your clients and your team. Will they be able to manage without you? If you get a system in place for these kinds of eventualities, this will help to keep your mind at rest, as well as improve your team and employer know that everything will be taken care of.

Why You Should Upgrade Your Office Technology

Three of the focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. In today’s digital age, it’s critical that your business runs on the most up to date technologies possible. Likewise it’s critical to keep your systems up to date. The following contributed post is thus entitled, Why You Should Upgrade Your Office Technology.

* * *

There are aspects of your business that are ever in flux. Your ideas need to evolve; your customer’s experience develops in accordance with the feedback you receive, your staff learn new skills, and so on. One thing that you may think holds steady is the nuts and bolts of your business: the location of your office, the furniture, the technology and software you use to push your business forward. But in fact, these things should also be in flux, especially your technology Below, we take a look at a few reasons why you’ll want to consider upgrading your business technology.

Source: Pexels.com

You’re Behind the Times

You might think that you’re operating at full capacity, but are you? F you’re using outdated technology, then the chances are that while you’re running at 100% with the technology you’re using, in comparative terms you’re only doing things at 75%. You can only do the best with what you have, but what if the best you have isn’t good enough? If it’s been some years since you last updated your equipment, take a look at any developments that have happened since then — you might just see what you’re missing out on.

Your Competitors Are Doing It

Even if you think you’re working well enough with what you have, it’s worth keeping in mind that what you’re doing is only one small piece of the jigsaw puzzle of running a business. What your competitors are doing is also important to your long-term business success, too. So while you may assess things and decide that you’re happy with what you have, cast your mind to the companies you’re in competition with for customers. Would you be quite as confident in your decision if you knew they were upgrading their technology?

It’s Easier Than You Think

There are normally two big considerations that prevent a company from upgrading their technology: the time involved to make the transition, and the cost. Both of these issues, however, are based on incorrect assumptions. For starters, let’s think about the cost. You shouldn’t think about the technology as a dead cost, because it’s not — if it helps you work more productively, then it’ll boost your profits. It’s an investment. In any case, the costs will be offset by the sale of your old equipment, which can be achieved by working with a company that offers data center liquidation. On the time front, if you transition your data into the cloud, then there’ll be no great data migration process. You can just have your new equipment installed, and be back to work at full speed in a day or two.

It’s Safer

Finally, keep in mind that keeping your technology and software up to date is an important part of staying protected about malware and other cybercrime threats. This type of crime has risen significantly in recent years and is especially targeted at small businesses. With the latest tools at your disposal, you’ll be in the best position to keep the threat at bay.

The Small Business Advice You Need

Two of the key focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Starting a business is one of the most challenging endeavors one can attempt. There are certain keys to consider when starting business. The following contributed post is thus entitled, The Small Business Advice You Need.

* * *

Resources for small business owners, leaders, and management can help them to continue to grow their businesses. Many small businesses start with a burst of creativity and commitment, but as the reality of running an SME sets in growth can plateau because owners get overwhelmed by day-to-day issues.

https://pixaby.com/photos/office-business-colleagues-meeting-1209640/

Many of these issues center around developing a coherent business strategy. How, for example, does a small business owner develop a credible business plan needed to access finance or loans? What responsibilities does an owner have towards staff? How does a small firm attract and retain the right people? How do SMEs cope with local skills gaps? How does a small company get access to the latest SME news to keep abreast of world developments and plan accordingly? How can efficient data management and analysis benefit companies? How does a business develop and market new products or services? What are the advantages of running promotional events? How does an SME compete in world markets? How does a small firm take advantage of the UK government apprenticeship scheme? Many business owners are not business experts, they are passionate about the product or service they provide, but many lack the knowledge or skills in management and running an SME. They need small business resources to give them tips and advice that can support them and are actionable. They need information to be in easily accessible formats made by knowledgeable stakeholders such as key government members, world business leaders, and business associations.

Learning from others

It is always good to look at how others have become successful and learn from their stories. There are many entrepreneurs that small business owners can look up to and perhaps even try to emulate. Perhaps the most well-known of them all is Sir Richard Branson. He knows exactly how to be successful in business, having built up the Virgin empire from nothing. He has bought and sold a number of companies and always seems ultimately to do well – he is renowned for his business expertise. But there are other business owners who are just as intrepid and just as good at business, even if the names might be either surprising or unknown. Justin Matthew is the owner of JMH Consulting Ltd, and is a social media pioneer – he is another successful businessman. Pete Cashmore also ranks as one of the UK’s most successful business owners. He owns and runs Mashable, a multimedia and entertainment platform. Then there is Saul Klein, founder of LocalGlobe which is a British venture capital company. And what about Michael Acton Smith who is the founder of Mind Candy, a children’s entertainment company that created Moshi Monsters? The one thing all of these people undoubtedly have in common is that they will have asked for small business advice when they needed it. Why don’t you do the same?

Sourcing effective resources

With the increase in SMEs has come a huge increase in the availability of best small business resources. But how do I as an SME owner, leader or management source the best of the available advice and tips? Are there any signs I can look for when reviewing their services?

The short answer is ‘yes’, but that’s hardly helpful! Within the business community, there is the will and motivation to help small firms to grow and reach their full potential. Whether this is for selfish reasons, for example increasing the available local supply of products or services that a big company needs, or purely philanthropic is open to some debate. However, there are some features you can look for to indicate you are getting the best advice service. Consider the format that information is presented in. Do you want a long article with a high powered author, using all the latest jargon or do you prefer having the latest SME news and other relevant information presented in bite-sized pieces in videos, interviews, and articles. Would a searchable resource be useful so you can go straight to that information about staff pensions or data analysis you need rather than going through mountains of irrelevant information. Do you need small business resources that quickly, simply and authoritatively tell you what you need to know for example about alternative funding such as equity investment or other finance options, presented by a key government member? Do you prefer an engaging, collaborative approach? Maybe you need annual report due dates or something specific? By asking yourself these questions, you will be able to narrow down your search for information successfully.

Finding the small business advice you need does not have to be difficult. Use the above details for inspiration!

Ecommerce Trends Dominating the Consumer Market

Three of the focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. Much of the business that occurs today, does so online via ecommerce. As such if you’re a business owner, or considering starting a business, it’s important to keep your eyes on the trends taking place. The following contributed post is thus entitled, Ecommerce Trends Dominating the Consumer Market.

* * *

When you come up with a business concept, you want something that is timeless. Products, services, and other business concepts that revolve around the fad or trend of the moment tend to go bust pretty quickly – consumers change their minds and move on to the next thing. Sure, this could be beneficial if you’re looking for a quick money spinner. But if you’re looking for your business to make it in the long run, you’re going to have to come up with a more long lasting and classic concept to move forward with. Trends that you shouldn’t ignore, however, include trends with consumer spending. You should notice how, when, and why your consumers are spending money and capitalise on this! Here’s how!

Watch the Market

The first step that you need to take is to gather consumers’ data whenever you can – just make sure to get their permission first. Look at how they are reaching your website – are they going direct, are they arriving through PPC links, are they being redirected through social media feeds? Notice when they are buying products – do people tend to wait until payday or are they spending earlier in the month? How they are paying for them? Are they using card or merchant services like Paypal? You can learn so much through simply watching.

Make the Most of Market Research

Whether you conduct market research of your own accord, or make the use of market research that others have carried out, you need to be making use of information taken directly from consumers who have been interviewed, surveyed, or questioned in another fashion. Take a look at some of the information gathered by Trade Vitality below to get off to a perfect start!


Infographic Design By Trade Vitality

3 Of The Best Ways To Make Money Today

Two of the key focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. In 2019 there are several ways to make money aside from working a 9-5. The following contributed post describes a couple of them and is entitled, 3 Of The Best Ways To Make Money Today.

* * *

You will no doubt have heard plenty about different ways to make money in the past. As it happens, there are so many great ways to make money that you might even struggle to choose between them, and this is certainly not going to be helpful if you want to be able to make the most of your finances in the future. However, there are a few ways of making money which generally come out on top, and those are what we are going to focus on solely in this article. Here, we will look at some of the best ways that anyone can make money today, so long as they put the right effort in, are sensible about it, and in some cases, have a little luck on their side. Consider all of the following if you are truly keen to be able to make a lot more money than you might normally think possible.

Image

Foreign Exchange

Chances are, you have thought about betting on the foreign exchange at some point in your life, but thinking about it and actually doing it are two very different things. The truth is that if you want to make money here, you will need a few different things on your side. First of all, and probably most importantly of all, you will need to find a decent platform like KnightsBridge FX to be able to use. The platform determines not just how easy you find it to carry out the necessary actions, but also how much you are likely to stick with it, and you will want to try and find an exchange which you feel you can use in a strongly intuitive sense. With that, you will have more chance of then making real money from it – but you will also need to make sure that you are genuinely paying close attention to the markets too, otherwise you can’t expect to make any money at all.

Matched Betting

If you have never looked into matched betting before, you are about to discover something of a revelation. Matched betting is when you take advantage of free bets given out by bookmakers by laying your bet at a betting exchange, so that you always make a guaranteed profit, no matter which bet wins or which one loses. You will need to read up on this in some detail before you attempt it, so that you can make sure you are doing it right – but as long as you do that, it is a sure-fire way to make real money, and you could even make thousands a month, depending on how much you have to bankroll initially. This is a powerful and exciting way of earning money, and you should think about it seriously if that is what you want to do.

Image

Write An Ebook

If you feel you are something of an expert on a given subject, you might want to think about writing an ebook. This can be a good way to help others with that thing, while lso actually being able to make a lot of money in the process. Writing an ebook doesn’t need to take too long, especially if you are already a good enough writer, and you will find that it is a highly rewarding means of bringing in some extra cash.

Easy Ways To Add Value To Your Home This Year

A key focus of my blog is Financial Literacy/Money. The biggest investment for many people is their home. Many things effect home prices – some of which are in our control and some of which aren’t. If you can add value to your home, it’s worth the effort. The following contributed post is thus entitled, Easy Ways To Add Value To Your Home This Year.

* * *

No matter which way you look at it, buying a home is a major investment. In fact, it’s likely to be the biggest one that you make throughout your entire life. However, that doesn’t necessarily mean that you’ll stop with one house. If you plan to work your way up the property ladder and buy bigger and better houses later, then you need to make sure that your current home turns a profit. With that in mind, here are six improvements you can make to add value to your home this year.

Credit To

1. Spruce Up The Garden
When potential buyers arrive at your home, they may already know the asking price, and will immediately start to question whether or not it is worth the investment. For this reason, it’s vital that you make a great first impression. As the first thing buyers see, this means that your garden must be in good shape. From weeding to painting, there are lots of ways to boost curb appeal.

2. Repair The Damaged Roof
Any sort of structural issue can significantly harm the value of your property, but, because it’s on show for everyone to see, a damaged roof can be an even bigger problem. When you repair this issue, you could take the opportunity to make your roof more energy efficient, by investing in Tamko shingles. As energy costs are on the rise, this can be very appealing to potential buyers.

3. Upgrade The Kitchen Area
The kitchen is the heart of most homes, so, naturally, it’s a place where surveyors and home buyers pay a little more attention. With that in mind, you should look for ways you can upgrade your kitchen space. If you plan to sell your home with appliances included, then start by replacing these with new energy-efficient models. This can help you to save money in the meantime too.

4. Replace Any Old Windows
Good-looking and energy efficient windows add instant appeal to your home. Not only do they look great and cut energy costs, but they can also make the house more comfortable, by trapping heat and reducing noise pollution. Because of this, you should consider replacing your old windows with double glazing. Just make sure that the finish and style are right for your home.

Credit To

5. Add Extra Living Space
As long as it’s in keeping with your home and done well, adding living space is always a good investment. You could add an extension or a conservatory, for example, or even convert the attic or basement. This can increase your buyers list, by making your property an option for larger families. If you don’t have the find to increase living space, try to add some extra storage instead.

6. Make The Space Lighter
Increasing living space can be beneficial, but it’s also quite costly. If this is just too much for your budget to handle, then make your home lighter instead. This will give the illusion of space, which will increase your home’s value. There are a number of ways to go about this, but some of the simplest include keeping your windows clean, painting the walls white, and adding mirrors.

Whether you want to sell your home or not, improving its value can only be a benefit. Hopefully, with the advice above, you have some idea of where to start.

Marketing With Gifts

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. In any business, the critical aspect is its marketing. Sometimes marketing requires creativity such using gifts for potential customers. The following contributed post this therefore entitled, Marketing With Gifts.

* * *

There are lots of different strategies that companies can employ in order to market effectively. Obviously, which one is best depends on the business themselves because every business is different and so what may work for one business may not be very effective for another.

https://cdn.pixaby.com/photo/2014/11/24/11/38/pen-543858_340.jpg

Nevertheless, there are a few marketing strategies which seem to be widely adopted by a whole host of different types of companies in different industries. One of these strategies is the distribution of promotional gifts. This is a method which has been effective for a long period of time, which is obviously a testament to how successful it is.

However, the success of such a strategy depends on what promotional products a company decides to opt for. Therefore, bearing this in mind, this blog post aims to give businesses a helping hand by revealing some of the best promotional items and gifts and why they are so effective.

One of the most widely used promotional products is a pen. There are two main reasons as to why this is the case. The first reason is that they are relatively cheap to produce; this is especially the case in comparison to other types of promotional items. The second reason is that a pen is an item which is always needed and so the company will become ingrained in the individual’s mind that is using it. Moreover, a pen is also something which will advertise a company for many months and even years to come.

Another option which is a great idea to consider is that of promotional bags. Reusable bags are something that always comes in handy, especially when a lot of supermarkets now charge for individuals to use the plastic carrier bags. And in addition to this, more and more people are caring about the environment, so this is something that they will appreciate. A final point worth noting is that the advertising potential for this product is huge as the bag is not something that will only be seen by the person in possession of it, as all the people in which the person passes on the way home after doing their shopping will see it too.

In addition to bags and pens, another great option is to go for promotional mugs. After all, who doesn’t love a good cup of tea or coffee when they are working? Moreover, everybody else at the place of work will see the mug as well and so they will take note of the company in question.

A final product worth considering is mouse pads. Gifts such as this are unique and they appeal to consumers more because they are not something that they would expect to get from a business. Moreover, it is obviously something which will come in extremely handy as all people need one.

All in all, promotional gifts are a great way to market a business. Nevertheless, it is highly important to put some serious thought and consideration into what products to have distributed.

Is The Private Health Sector Where The Money Is At?

Three of the focuses of my blog are Current Events, Financial Literacy/Money and Business/Entrepreneurship. The Health Sector touches everything from our personal well-being, to the economies and governments of whole countries. As such it’s important to keep an eye on the sector. The following contributed post is thus entitled, Is The Private Health Sector Where The Money Is At?

* * *

Private health care is something that’s either going to be really familiar to you, or something that’s going to totally be an alien concept. To those of you who receive state funded health care, or the equivalent in your own country, then you will definitely notice a difference between the two. Sometimes you might go private for a really minor procedure that you just can’t be bothered to wait for. Something like a dentist appointment. Your eyes are opened to a much better standard of healthcare, and it’s easy to see why so many are making millions from an investment into the private health care sector. But the current health situations in so many countries at the minute is just poor, so do you think the private health care sector is where the money is really at? Well, let’s do some digging and find out if it would be worth your while to invest in the private health care sector.

Image Source

The Growing Market

The growing market for private health care is definitely one that’s moving at a quick rate. You’ve got countries like the US which is all private health care and all treatments cost. But there are countries like the UK, where funded health care is available, so not as many people go private. But still, more and more are now turning to private health care for better and faster treatment, no matter how much it’s going to cost to do so. Some are going private because they feel in countries like the UK, that the NHS is too stretched to have the time to deal with their issues properly. But the market is also growing, because the price that private trusts are now able to charge, is going up. A more premium service than ever before is being offered, and it’s a luxury that everyone wants a taste of at the minute.

The Investment Needed

The investment needed is going to be rather big, but there are plenty of ways that you could do it. You could start up your own center, employ doctors on a locum basis, and go from there. Of course, it’s just not that easy. There are far more rules and regulations than with any other investment you could have chose. From setting up healthcare payment systems, to ensure you’re working at the highest levels of safety, to keeping to safeguarding rules etc. it’s so complex that it’s not your average investment, but it would more than likely pay off in the end. Or you could just simply invest money in a private organisation that’s already established, and have a percentage back on the investment. There are simpler ways, but they are still both hard routes to follow.

What It Could Do For You In Terms Of Business?

It could give you endless opportunities to make money. The private sector isn’t just going to go away, and if anything, it’s only going to get bigger as time goes on. There are so many private investors at the minute as well, that you’re best off getting your foot in the door before the popularity increases more, and the value decreases.

What Every Business Owner Should Know About Product Manufacture

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Once you create a quality product, the next step is to figure out how to produce it – specifically the manufacture of that product. The following contributed post discusses this and is entitled, What Every Business Owner Should Know About Product Manufacture.

* * *

You’ve come up with an amazing product design that you know has the potential to be incredible. The design aspect of things has been dealt with, as has the marketing side of things, now it’s time to focus on the actual manufacturing process of the product. This is a somewhat complex part of the process, however, it doesn’t have to be overly stressful, it’s just a case of knowing what steps you need to take, that’s all.

Bearing that in mind, below are some tips and pieces of advice about the manufacturing process.

Photo Source

Create a prototype

The first thing that you want to do once the design process has been completed for your product is to create a prototype. Creating a prototype will give you a chance to see how the product functions and to start testing it, it also allows you to have something to show possible investors so they know what they are backing and if it is worth it.

Consider your manufacturing options

Before going to production with your product you will need to decide how you are going to manufacture the product. You need to know if you are going to make the products yourself or if you want to outsource. If you are looking to manufacture to order then doing it yourself would work if you have the tools to do so, but as you get bigger and sell more then you will need to look at upgrading your tools and factory space to meet demands. If you are going to be making bulk amounts of your product from the outset then outsourcing to a manufacturing machine shop will help you to meet bulk orders if you don’t have space or tools straight out the gate.

Get a quote for the price of the project

Before you are able to manufacture you will need to get quotes for the equipment, space, and materials needed to create your product. If you need to have investor backing to make this product a reality then having all the finances in black and white to say what you need from them will make it easier for them to make a decision so it is crucial to know what you need to spend. Also if you go in blind and just throw money at it you could end up spending way more than needed if you have got quotes and researched the pricing more, especially if you are outsourcing some of the work.

It is a very exciting time to have the possibility to get a new product on the market, especially if you are confident about it. Although it is exciting you need to make sure you take your time and plan it effectively to make sure it becomes successful and there are no unwanted problems along the way. If you rush in getting a product out without the correct funds and testing you can end up cutting corners which will usually end in a faulty product and the inevitable failure. If you follow the above tips you will be ready to manufacture and release your product to the world.

How To Promote Your Small Business

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Regardless of your product or service, unless you properly market it, no one will know about it and you likely won’t make any significant money. Thus the marketing and promoting your business are arguably it’s most important components. The following contributed post is entitled, How To Promote Your Small Business.

* * *

So, you’ve done all of the hard stuff. You’ve set up your business, registered it, got all of your team on board, and you’ve hired the perfect office for you and your employees. However, the enquiries into your services just aren’t coming in as fast as they should be doing, and you need to market your small business to get the customers coming through the door. Whilst it can be difficult to do this sometimes, there are many ways to go about promoting your business, without spending a lot of time and money.

We’ve noted them down here for small business owners!

Image credit

Utilize social media

Social media is the perfect place to promote your small business, and it is one of those things that everybody seems to be using on a daily basis now. Of course, your ads are likely to be a little more successful if your target audience is young people, but nevertheless, the audience on social media really is a varied one. To get the utmost success out of a social media campaign, you need to make sure that your profiles are all consistently marketed and that they look professional, and you should target your ads at the group of people who are most likely to be interested in your services. Outsourcing to a social media consultancy could also be a good idea!

Invest in banners and business cards

Marketing your small business via the medium of print is also a good idea, and creating banners that you can put up in your local area (with permission, of course) is a great way to put your brand into people’s minds, especially those who are likely to use your services. Having professional business cards is also a good idea if you want potential customers to be able to get in touch with you easily, so look into companies like Crescent Printing if you need banners, brochures or business cards. These things really will market your business as a professional and respected company, so invest in some good printing!

Create ads for local radio

If you have a business that relies upon the trade from your local area, then using local radio station to market your brand could really help you to extend your reach. Not only is it beneficial because a lot of people listen to the radio on the way to, and from, work, but it also has the added benefit of being a cheaper option than television advertising. You don’t have to spend too much cash on actually making the advert, and playing it won’t cost you as much, either! If you know what your target audience is (and where they live) then look into the opportunities for local (and national) radio, and see whether this could help you.

So, if you’re a small business owner but you’re not too sure how to promote your brand, try out these simple tips, and you could see that you’re selling more, without having to spend a lot of cash to make it happen! Good luck, and happy marketing!