Three focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. Today technology is a part of all our lives in varying capacities. It is especially critical in the business world and if you’re not maximizing your usage of it, you’re likely falling behind. The following guest post is entitled, Business Technology Tools: Secrets to Success.
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With continuous technological advancements, businesses are under constant pressure to adopt the latest tools and platforms to stay ahead of the competition. However, with a plethora of options available in the market, it can be challenging to identify which technologies will be most beneficial for your business.
Below are some must-have technologies that can help take your business to the next level.
Recruitment Software
Of course, every business needs employees to function. However, the process of recruiting can be time-consuming and expensive. Luckily, many recruitment software simplifies the process by automating repetitive tasks such as posting job ads and sorting through resumes. It allows you to spend more time interviewing candidates and making the best hiring decisions for your business.
So if you don’t have one yet, it’s time to get a hold of this technology tool. Many providers offer this tool at an affordable price, usually around $45 to $950 a month, depending on your needed features.
But if you’re on the tighter end of the budget, don’t fret. You can find many recruitment management software for free. So, there’s no excuse not to use this tool.
Customer Relationship Management (CRM) Software
CRM software helps businesses manage their customer relationships effectively. It provides a 360-degree view of customers, captures customer interactions, and stores essential customer information such as contact details and purchase history. This valuable data can help identify trends, improve marketing strategies, and boost sales.
Suppose you’re not using a CRM system yet. In that case, you’re missing out on many opportunities to understand better and serve your customers. Like most applications, CRM software is available in both free and paid versions. However, suppose you want more features and customization options. In that case, you’ll need to opt for the paid versions, which can cost anywhere from $12 to $300 per month.
Whichever CRM system you choose, ensure it integrates smoothly with your business’s existing systems and processes. You can avoid disruptions and get the most out of this tool.
Social Media Marketing
With over 4 billion active social media users worldwide, businesses can no longer afford to ignore the power of social media marketing. Platforms like Facebook, Twitter, and Instagram provide firms with an incredibly effective way to reach out to their target audience.
Businesses can build a solid social media presence by creating engaging and relevant content. It will help them boost brand awareness, drive traffic to their website, and generate leads. That’s why it’s essential to have a social media marketing strategy in place.
Many companies now offer services to help businesses with their social media marketing efforts. So, if you don’t have the time or resources to do it yourself, consider outsourcing this critical task to a reliable agency. This way, you can focus on running your business while leaving the social media marketing to the experts.
Data Analytics
Data is one of the most critical assets for any business. With the help of data analytics tools, companies can make sense of large data sets and glean valuable insights. It can help improve their decision-making process.
Data analytics tools help businesses track and analyze customer behavior, understand market trends, and optimize their marketing and sales strategies. This way, they can make more informed decisions to help grow their business.
And since a computer predicts the future better than any human, businesses that use data analytics will have a significant competitive advantage over those that don’t.
Many data analytics tools are available on the market, so, regardless of your budget and needs, you should be able to find one that fits your needs.
Task Tracking Software
Before the internet, it was nearly impossible for businesses to track the progress of their employees’ tasks. But now, with task tracking software, companies can easily monitor employee performance and productivity.
This type of software allows managers to assign tasks to employees, set deadlines, and track the progress of each job. This way, they can ensure that tasks get completed on time and that employees are working efficiently.
Many task-tracking software applications are available, so it’s essential to find one that fits your business’s needs. Some of the most popular options include Asana, Trello, and Basecamp. Whichever one you choose, make sure it’s easy to use and that it integrates seamlessly with your business’s existing systems.
The above are just a few essential technologies that can help businesses grow. By investing in these tools, you’ll be able to understand your customers better, track employee performance, and make more informed decisions. So, don’t wait any longer; get started today and see the difference for yourself.
This personal money story for Father’s Day 2022 discusses the subject of taxes and once again is inspired by my father. Here on the Big Words Blog Site, I’ve crafted several stories discussing how Dad’s sage wisdom has impacted my life, whether through a direct lesson, or from my observations of him. Some of his most poignant lessons have involved money and arguably created my love for financial literacy, though he and I don’t see eye to eye on everything money related today. One of Dad’s most important lessons involves an area that is the bane of some people’s existence, while being a pillar to the wealth-building strategy of others, taxes.
We’re All Playing One Big Financial Game
Recently it occurred to me that we’re all playing one big financial game, now a video game in our modern technological age. Certainly, money isn’t the sole key to happiness, but life is certainly better when you have an abundance of it versus a scarcity. I would thus define winning this game as having an abundance of it versus just scraping by and financially struggling. Among the factors that go into winning the game include: the family you come from, personal (and family) life choices, your financial IQ, personal grit or ambition, delaying gratification and your current environment.
Your financial IQ may be the most important of all the factors I listed, and it can be impacted by the other factors. This concept is covered in numerous books. Your financial IQ includes your ability to earn money, your ability to save money, your ability to invest money, your understanding of credit, your understanding of insurance and understanding taxes. If you’re born into a high financial IQ family, you will likely learn all these principles starting from the crib. If not, you must learn them along the way, if at all. Furthermore, learning them is going to be impacted by your own personal drive and curiosity. For now, let’s focus on many people’s least favorite topic, taxes.
Taxes: What They’re For And Paying Your Fair Share
First, I want to admit that I don’t know everything about taxes. I would highly encourage readers to subscribe to economist, Antony Davies’, YouTube channel entitled Words & Numbers. It’s one of my new favorite channels because it’s not politics driven, but instead economics and facts driven. I’m currently reading his and James Harrigan’s book, Cooperation and Coercion. Upon listening to his content, one of the things that you immediately start to understand is that our politicians are not always honest with us about who pays what and how much in terms of taxes. Furthermore, they’re not always clear about the ramifications for the tax changes they promote. Often, in the pursuit of a political office, they incite class warfare.
In any case, while some taxes are necessary for our municipal, state and federal governments to perform their tasks, there can be too many taxes and they can have harmful effects on everyone. Furthermore, a part of one’s financial health is managing your taxes. The more you read, learn and start understanding about money, the more you start learning that in our ‘progressive’ tax system, not everyone is taxed the same and there are a number of reasons why.
As extensively covered in the Rich Dad Poor Dad books, employees are taxed differently than businesses (small and large). As an employee, your tax burden changes the more earned income you generate, and you start to lose deductions the more your salary increases. In the above-mentioned Rich Dad books, there is a clear distinction between high income professionals and business owners, and each has different rules in our current tax code. As employees, one of your tools for diminishing taxes is tax deductible gifts or donations.
Tax Deductible Giving
Around the time I moved in with Dad for my postdoctoral fellowship, a couple of things coalesced in my mind in this area. First, I got a copy of the Cashflow 101 e-game which I played regularly on my personal computer. Just briefly, the game is designed to teach you financial literacy and the goal is to get out of the ‘rat race‘ (the realm of working 9-5), and onto the ‘fast track‘, or the realm of the wealthy, where you can live on your investments and pursue your dreams. One of the things I realized when playing the game was that the rat race contained yellow ’donation’ squares. When you landed on those squares, you had the option of donating money.
If you chose this option, you received extra rolls of the dice with multiple dice. I refused the option initially and then realized that there was an advantage to making donations. You also received greater opportunities to earn and invest. Finally you increased your likelihood of passing over ‘downsized’ squares which meant you lost money and turns. The underlying lesson was that you ultimately received rewards for giving. I’m not saying that you should give strictly to get, but in our financial system the government does allow you to write off gifts to certain entities and thus lowering your tax.
“Did you get your taxes done yet? Did you get your taxes done yet? Did you get your taxes done yet?” That’s all I heard the first tax season I moved in with Dad just after finishing graduate school. He literally walked through the house asking me if I had done my taxes. I didn’t know why he cared so much, but it started to scare me. Just finishing my doctoral training, a period in which I didn’t have much money, I owed the IRS tax money that year. For those unfamiliar with the process, we had to pay estimated taxes on our $17,000 to $22,000 graduate stipends every year. So yes, the poor do pay taxes too.
Reducing Your Taxes
“I like to make gifts to things that are tax deductible!” One day we were at Dad’s desk, and he had a pile of solicitations from his alma mater and other charities. He made his poignant declaration as he pondered them. He prepared his tax returns himself at that time and it was quite the ritual every year as I observed him.
In hindsight, Dad was probably also feeling some anxiety himself. He lived in one of the highest taxed states in the country – New York. He also owned his home outright and probably wasn’t going to get much in way of homeowner related deductions. In other words, he was likely going to have to make payments to the federal and state governments.
This explains his preoccupation at that time with tax deductible gifts. Unfortunately, I don’t remember the exact verbiage, but we did have a talk about making charitable gifts to certain entities and lowering your tax payment. It was my first time learning these lessons and I was in my late 20s. I know that my mother put money into church in my younger years, but we never talked about the gifts being tax deductible.
Where Can You Make Tax Deductible Gifts?
Well, I just named a big one which will make a lot of people bristle in our increasingly secular society, church. Whether you want to admit it or not, churches are businesses, some bigger than others. Some also do more good than others. Not all pastors, for example, take the tithes and offerings to the church to buy expensive suits, fleets of fancy cars and private jets. Some churches actually use the money raised for missionary activities and helping the poor.
That said, if you belong to a church and give regularly, you will have the opportunity to deduct at least a portion of that money from your tax liability, regardless of what the pastor and the church do with it once you drop it in the plate or donate online. This also explained why Dad kept giving tithes and offerings to his church even when he stopped physically attending. Each week he dutifully wrote his check and put in the church’s envelope with the same smiley face on it. That smiley face always made me laugh. I or my then stepmother, would take it to the church on his behalf.
If you don’t attend church, what about making donations your alma mater? My alma maters are Johnson C. Smith University and the University of Michigan. Many people make generous donations to their alma maters every year. It’s the consistent donations from alumni that ensure that their alma maters maintain solid futures.
Other institutions experience anemic alumni giving and are not so fortunate, causing them to face a loss of accreditation and/or closure. The Historically Black Colleges and Universities are a good example of this. There are also scholarship funds like the United Negro College Fund. Furthermore, throughout the year and around the major holidays, there are regularly solicitations to feed the hungry, especially around the Thanksgiving and Christmas holidays. When watching TV and now online, there are opportunities to give for pretty much any cause around the world whether it be feeding hungry people, or relief from wars.
Again, giving is a wealth-building and maintenance strategy for certain demographics. Come election time, the wealthy regularly get demonized for not paying their ‘fair share’ of taxes relative to the middle and lower classes. I would once again point readers back to the above-mentioned book Cooperation and Coercion for a more substantive discussion of the validity of these claims. I’ll end this point by stating that the charitable giving and philanthropy these high net worth demographics make isn’t highlighted as much (or enough).
Giving Is A Personal Choice
There are several contexts for giving and generosity. It’s something I’ve had to conceptually piece together over my lifetime. My parents helped. The Rich Dad Poor Dad books helped. Dave Ramsey and his Financial Peace University curriculum helped. Life experiences have contributed as well. It’s been a process.
After finishing school and launching off into the adult world of work, one quickly learns that at any given time there can be multiple financial concerns and considerations pulling at you depending on your lifestyle. Perhaps you don’t earn that much money. Perhaps you’re just starting your career and live in an expensive metropolis. Perhaps you have a large student loan payment or are encumbered with some other massive debt. Perhaps your family is dependent on you as the breadwinner, and not just in the context of a nuclear family. In any case, sometimes you might have your hands full just getting your own financial house in order, and you don’t have money available to give.
It may not make sense to willingly give money away. I think the underlying principle in this world, though, is that when you bless others, you get blessed. As my mother often says, “It’s in the Bible,” and there are numerous scriptures which discuss this such as Proverbs 11:24-26 (Give freely and become more wealthy; be stingy and lose everything. The generous will prosper; those who refresh others will themselves refreshed. People curse those who hoard their grain, but they bless the one who sells in time of need.) If you’re not into biblical scripture, just know that under our current progressive tax code as described above, the Internal Revenue Service (IRS) allows you to deduct monetary gifts to nonprofit entities from your tax liability. And finally, there are advantages to paying fewer taxes or none at all.
Closing Thoughts On Tax Deductible Gifts
Thank you for reading this piece. I didn’t write this narrative to tell anyone how to give as everyone’s life is unique. Furthermore, I am not a financial professional, and I am not rendering advice. My intent is to present the information and let the reader decide. This story was rooted in one of many memorable experiences with my father, a retired educator, and it just so happens that I’m publishing it around Father’s Day 2022. Here on the Big Words Blog Site, most of the content published these days is from customers by way of shorter, informational pieces. As the owner of the site I like to publish something of my own from time to time. I started writing this piece months ago, and with the many other things I have to do, I was only able to finish it now.
Author’s Thoughts/Reflections
Tax deductible gifts are a really big deal, and many people give with their tax liabilities in mind. I’m recalling a couple of our Johnson C. Smith University Washington DC Alumni Chapter meetings where members wondered how their gifts to the school would be handled in terms of tax, if they were given through the chapter itself instead of independently.
We often learn a lot from our parents through observation. Many of the life lessons from my father have been money-related. Many of those lessons have involved being very careful with it which can be a strength in some contexts, while it can be a source of conflict and ire in others. As with most things in life, I’ve learned a balance is good and optimal.
The Big Words LLC Newsletter
For the next phase of my writing journey, I’ve started a monthly newsletter for my writing and video content creation company, the Big Words LLC. In it I plan to share inspirational words, pieces from this blog and my first blog, and select videos from my four YouTube channels. Finally, I will share updates for my book project The Engineers: A Western New York Basketball Story. Your personal information and privacy will be protected. Click this link and register using the sign-up button at the bottom of the announcement. Regards.
Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. An important sector of our economy is the food and beverage industry. If you want to start in this sector, there are some tips that you need to be aware of. The following contributed post is entitled, Tips For Starting A Food And Beverage Manufacturing Business.
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Starting a food and beverage manufacturing business can be an incredibly lucrative endeavor. However, there are a few things that you need to keep in mind before getting started. The following blog will discuss some of the essential tips for starting your own food and beverage manufacturing business!
One of the most important things that you need to do when starting a food and beverage manufacturing business is to have a solid business plan in place. This business plan should include everything from your target market to your financial goals. Without a strong business plan, it will be challenging to make your business successful.
Make sure to do research and put together a comprehensive business plan before starting your food and beverage manufacturing business!
2) The Right Building Will Make All The Difference
Another important tip for starting a food and beverage manufacturing business is to make sure that you have the right building in place. The last thing that you want is to set up shop in an old, run-down warehouse. Not only will this give your customers a bad impression, but it could also lead to health code violations.
Make sure to find a clean, modern facility with urethane flooring that meets all of the necessary requirements for your food and beverage manufacturing business!
3) Invest In The Right Equipment
One of the most important investments you’ll make when starting a food and beverage manufacturing business is in the equipment you’ll need to get started. Depending on the products you plan on making, you’ll need to purchase specific types of machinery and equipment. Do your research to determine what type of equipment is best for your needs and budget. Once you have the right equipment, you’ll be able to produce high-quality products that will meet customer demands.
Another essential investment to consider is in packaging materials. You’ll need to find sturdy, reliable packaging that will protect your products during shipping and handling.
4) Hire Qualified Staff
One of the most important things you can do for your food and beverage manufacturing business is to hire qualified staff. You’ll need to find individuals who have experience in the food and beverage industry and who are passionate about what they do. These individuals will be responsible for ensuring that your products are of the highest quality and that they meet customer demands.
Make sure to take your time when hiring staff for your food and beverage manufacturing business. You want to ensure that you’re only bringing on board individuals who will help contribute to the success of your business!
In conclusion, these are just a few tips to keep in mind when starting a food and beverage manufacturing business. Be sure to have a solid business plan in place, invest in the right equipment, find the perfect facility, and hire qualified staff. With these tips, you’ll be well on your way to making your food and beverage manufacturing business a success!
Three focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. With the invention of the smartphone, a host of new possibilities were also created. The following contributed post is entitled, Quick and Easy Ways to Make Money From Your Phone.
There are many ways you can start a side hustle and earn some extra cash. However, this can take a lot of time and investment. If you are looking to make quick money without a large monetary or time investment to get you started, then there are plenty of alternatives from the convenience of your phone.
Mobile phones have only become more sophisticated with time, and you are now able to house everything on a small device, from your photos and contacts to streaming your favorite Netflix shows and making money.
Put your smartphone to good use and make some extra cash. Here are some of the top ways you can make money from your phone that are quick and easy to do.
#1 Market research firms
There are a plethora of market research firms around the world that will allow you to sign up and take part in the research. Some of the easiest ways you can do this are to sell your data. Once you have found a company you are happy to work with and installed their app, you don’t have to do anything else for it. Market research firms will use your data for their research and in return, you get paid for it.
#2 User testing
There is a demand for user testers all around the world. Many big brands want people to test their applications and websites before they go out to market. You can do all of the user testing from your phone. All these companies ask for in return is feedback that will help them improve their branding, websites and services. You can simply test websites and leave reviews, or you can take part in online interviews (which can be done on your phone if you have a video conference app installed).
#3 Betting
Betting is a fun, convenient and easy way to earn some extra money from your phone. It is also extremely simple to get started with. There are many types of betting that you can get involved in, and many that carry fewer risks, for example, binary options, which come with two different payouts. You just need to find reputable binary options trading brokers to help you get started.
#4 Surveys
If you have 5-10 minutes per day, then you may wish to work through some surveys. These are simple to complete and can be done on your smartphone. There are a variety of different surveys to choose from, some are a few minutes and some are much longer. You can opt for cash, or gift cards in return for your time.
#5 Investment apps
If you don’t need cash right now, you can use your smartphone to invest your money to help you secure your future. There are a variety of apps on the market, for example, Betterment, that can guide you to invest and take control of your money. Many of the applications will enable you to create your own goals, that will help you to create a plan tailored to your budget and needs. This is a great and hassle-free way to get started with investing and making money.
If you don’t have the time or desire to start a side hustle, but you would like to earn a little extra money, these are some of the top ways to get started using your phone.
Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. When you run a business, you want to make sure to ensure profits, but you also have to figure out how to you save money as well to maintain operations so that you’re always cash flowing. The following contributed post is entitled, Money-Saving Strategies For Small Businesses.
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Balancing the books is one of the most difficult challenges for small businesses. Most startups and small companies operate on tight budgets, so it’s hugely beneficial to capitalize on opportunities to save. Generating profits doesn’t just boil down to bringing money in. It also depends on controlling spending and regulating outgoings. In this guide, we’ll explore some money-saving strategies for small businesses.
Flexible staffing structures
Staff wages account for a significant proportion of expenses for most employers. In some cases, it’s not possible to explore an array of options, but often, business owners can save by embracing flexible systems and structures. If you have a small core team, for example, you could consider options such as offering short-term contracts for specific projects or seasonal work, hiring temporary employees, adding part-time staff or outsourcing. Outsourcing is an increasingly popular option for businesses of all sizes because it facilitates access to additional services and skills without adding to the wage bill on a permanent basis. Examples of services and tasks that can be outsourced effectively include digital marketing, cleaning, IT support and logistics.
Most businesses rely on equipment, technology, tools and supplies to provide customers with products and services. The cost of buying and maintaining equipment can spiral. If you’re looking to upgrade technology, replace tools or buy equipment or supplies for your company, it is worth comparing prices, getting quotes for hire packages and looking for ways to save by buying surplus or second-hand equipment. For glassware, furniture or kitchen equipment, for example, search for discount restaurant supplies, compare hire prices versus purchase costs and look for companies or stores that offer used and preloved products. For retail units and cafes, you could look for second-hand fittings and try upcycling furniture.
Reducing energy consumption
The cost of gas and electricity has risen sharply in the last 12 months. Reducing energy consumption is an effective way to lower bills and make a positive contribution to the environment. There are multiple ways companies can reduce consumption, including boosting energy efficiency by upgrading to smart appliances and swapping old light bulbs for newer versions, using sensors and thermostats to prevent wasting energy and insulating business premises. If you use company vehicles, or you have a business fleet, it’s also worth exploring green vehicles. Electric and hybrid cars are often more expensive to buy but you can start saving on running costs immediately. You can also implement policies and guidelines to encourage your staff to use less energy. Even the smallest things, like turning computers and electrical appliances off at the socket, can make a difference.
Financial issues are the most common cause of business failure. If you run a small business, and you have a tight budget, you can increase profits by boosting sales and reducing expenses. Look for ways to lower spending by exploring flexible staffing structures, searching for the best deals on equipment, tools, resources and supplies, upgrading to smart technology and lowering energy consumption. If you can increase your income while reducing spending, your books should look much healthier.
Do Timely Maintenance and Repairs
Any business owner knows that saving money is essential to success. After all, the bottom line is what matters most. One way to save your business money is by investing in regular maintenance and repairs. You can proactively address potential issues instead of waiting for something to break down. This can often be done at a fraction of the cost of repair or replacement. In addition, regular maintenance can help extend your equipment’s life, saving you even more money in the long run. For example, professionals should take care of commercial air conditioning repair in a timely manner. By taking a proactive approach to maintenance, you can save your business money and keep it running smoothly for years to come.
Explore funding streams
Many business owners borrow money to set up a company or grow their venture. If you’re ready to take the next step and try to expand, it’s beneficial to explore funding streams and weigh up the pros and cons. Some options may be more accessible than others, and it’s also important to consider the cost of borrowing. Check terms and conditions and interest rates and look into options like working capital financing. Try to avoid borrowing large sums if you’re in debt and your company isn’t yet showing signs of generating profits within the next 12 months. It’s best to start small, pay back loans and then borrow more if you’re in a position to grow the business further. If you borrow too much, you may struggle to get back into the black.
Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. A construction business is like any other business in that there are keys to success and failure. The following contributed post is entitled, 5 Critical Things To Think About Before You Embark On Any Construction Project.
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There are many kinds of construction projects. However, no matter what kind of construction project you’re undertaking, there are certain critical things you need to think about before you get started. Here are 5 of them:
Define the scope of work
No matter what kind of construction project you’re embarking on, it’s critical that you take the time to define the scope of work. This means clearly outlining what work will be done, whether it includes demolition before the construction can begin, who will be responsible for doing it, and when it needs to be completed.
Indeed, the who and when of a construction project are vital aspects because you will need the help of specialists at every stage of the process. For example, you may need to use a concrete demolition contractor to help you prepare the site for construction. The good news is that by choosing an expert in this field you can be sure they will not only complete a quality job but will carefully clear up the site as well, making the next stage of the process that much easier.
Create a budget and timeline
Before you embark on any construction project, it is critical that you create a budget and timeline. This will ensure that the project stays on track and within budget. The demolition process is one of the most important and costly aspects of any construction project. Therefore, it is important to have a clear plan and budget for this process.
Also, it is important to have a clear timeline for the project as a whole. This will ensure that all aspects of the project are completed in a timely and efficient manner.
Identify the materials you will need
When embarking on any construction project, it is critical to think about the materials you will need. Depending on the type of project, the materials you need may vary. For example, if you are building a house, you will need lumber, nails, and drywall. On the other hand, if you are building a deck, you will need lumber, nails, and decking material. By identifying the materials you will need ahead of time, you can be sure to have everything you need on hand when it is time to start construction.
Understand the permits required
Before you embark on any construction project, it is critical that you understand the permits required. Depending on the scope and size of your project, you may need a variety of permits from the city, county, state, or federal government. Failure to obtain the proper permits can result in delays, fines, and even legal action.
Think About Equipment Efficiency
Another important consideration many overlook is the kind of equipment you’ll need to move materials around the site. For larger builds or jobs that require heavy lifting at different angles and heights, using the right machinery can save time and reduce risk.
Actually, here’s a nice example: looking into rotating telehandlers for sale can be a smart move, since they offer 360-degree rotation, making it easier to maneuver loads without constantly repositioning the entire machine. Of course, this is one example, but the message is that sometimes you might need more than the average machines and equipment if you truly want to be efficient.
Prepare for the unexpected
It’s always important to be prepared for the unexpected when embarking on any construction project. By having a plan in place for potential problems that could arise, you can save yourself a lot of time and money in the long run. Make sure to have a contingency fund set aside in case something does go wrong, and don’t be afraid to ask for help from professionals if you’re ever in over your head. With a little preparation, you can avoid major headaches down the road.
Two focuses of my blog are Career Discussions and General Education. Once you’ve started your career, at some point you’ll like ponder how to continue to move forward in it. This is especially true if and when it stalls. The following contributed post is entitled, 3 Reasons Why Your Career May Be Stalling.
According to some reports, 50% of Brits are expecting to change their professions, while others seek answers to explain the slowdown in their careers. Indeed, the reasons are many, but few people take a moment to find out why. Sometimes, it is a professional burnout, and other times, it may be due to a general lack of interest in what used to excite you. Below is a discussion of these and other possible reasons for stalling careers.
1. You’re engaged in the wrong job
The first question to ask yourself is why you’re currently working in a particular role. Did you apply for the job simply because you needed to make a living? Or did you get engaged in the role because you felt you had something to offer? If your answer is close to the first question, that may be the reason your career is stalling. You probably got the job because it filled an immediate need and would pay the bills.
When this happens, the possibility of growing indifferent to the role and your current career may be greatly increased. If financial motivation is the only reason you got into the job, you could experience a stall in your career. The general lack of interest becomes the fuel that drags your career to the ground. Experts advise that there should always be a potent personal reason apart from money when choosing a career.
2. You stopped committing time to personal development
When was the last time you enrolled in a professional development course? Do you still find a reason to study more about your field? There are new demands for careers, and without continuous development, you may find yourself lagging. Even worse, your career may grind to a halt because you don’t seem to know the latest trends in your field. For example, the IT world continues to evolve rapidly due to technological advancements. If you fail to learn new trends, you may not be useful in the role in a few years. What happens subsequently is a stall in your IT career. Indeed, this can happen in any professional field. And it is up to you to find solutions. Career advancement doesn’t happen just by showing up for work. Your actions and inactions play significant roles in your success.
3. A slowdown in the industry you’re in
Due to technological advancements, some ‘professions’ have become obsolete since human resources are no longer needed. For example, lift operators no longer exist since anyone can operate one these days. More recently, the pandemic caused industries worldwide to drastically slow down. Many organisations let go of millions of employees worldwide, and some careers recorded a tremendous slowdown.
Admittedly, an industry slowdown may not be your fault, but when it happens, it would be advisable to be proactive. For example, during the pandemic, healthcare-related workers were in high demand, and you could easily take a health and social care course to join the field. Therefore, you have the choice to move on to the next industry or find ways to be relevant in your current role.
Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Ideally your business will thrive and flourish. Sometimes though there are unforeseen circumstances your business may fall into hard times. The following contributed post is entitled, Your Business Is Failing, So What Comes Next.
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Your business is failing. This is a fact that you are going to have to accept before you can do anything about it. If you don’t, then you’re not going to get very far because you won’t be making the right changes. So, if you have accepted that your business is currently failing and now you need to take the next steps, we can help. Keep reading down below to find out more about what you should be doing next.
The first thing that you need to do is find the problem. You need to go through your business bit by bit and find the problem that is causing your business to fail. As soon as you identify what this is, that’s the point where you can start making changes. But, in order to identify the problem, you need to look at your business as a whole and in parts. It might take a few specialists going through to locate the issue, or it might be glaringly obvious. It doesn’t matter how you find it in the end, as long as you do so this is the first thing that you need to do, and we recommend getting started right now.
Work On Your Marketing
So, one of the most common reasons that a business fails is because your marketing isn’t up to standard. You need to be able to attract as many people as possible to your business, which means that your marketing needs to be bold and it needs to stand out. It might be the case that you are not capable of putting this out, or it might be true that none of your marketing materials are landing with your target audience. If this is true for you, then we highly recommend hiring an agency to help you. It could be a startup marketing agency, or it could be a professional that has had plenty of years in the market. Look at reviews and decide which business is going to be the best for you.
Consider Your Leadership
Another problem that your business might be having is your leadership. Without strong leadership, your business is going to fail spectacularly. You are the head of your business, and this means that you have got to be the one to take responsibility for what goes on. You also need to be able to manage your business as a whole, and your employees effectively. However, this is not going to happen if you aren’t a good leader.
It’s a tough question to ask yourself, and you might not like the answer, but you need to be truthful with yourself about your leadership skills. Don’t kid yourself into thinking that you’re going to a great job if you aren’t, as this is not going to help your business. Pick out three things that you do well, and then look into three things that you don’t do so well and need to improve. We promise you that this is going to help your business a lot, as when there is strong leadership in business, the rest of the business follows this strength.
Sort Out The Money Situation
A final common reason that businesses fail is because they don’t have the money to fund their business any longer. This is a huge problem as you need money in order to make money. So, if it gets to a point where you can’t fund your business properly, you need to get this sorted as soon as possible. Having an accountant is a fantastic idea as they can often find ways for you to save money on your everyday expenses, but you are also going to need more cash.
You can get this from a number of places such as from a bank loan, from another investor, or from crowdsourcing if you are lucky. Figure out which is going to be best for you and yield you the best results, and then go for it,
We hope that you have found this article helpful, and now see some of the things that you need to do if your business is failing. There are a lot of things that could be wrong with your business and causing it to fail, but you need to make sure that you are plugging all the holes that you find as it were. We wish you the very best of luck, and hope that you manage to boost your business back up to the right place.
Three focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. If you have a website, a key concern is traffic. That is how often are people visiting your website and where on it are they going. The following contributed post is entitled, Traffic And Conversions: Getting The Perfect Balance.
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For the online marketing of your business to be successful, you basically need to tick off two boxes. You need to ensure that you are getting a high level of traffic to your website and guaranteeing that they stick around. This is all about finding the right balance for traffic and conversions.
Getting the right traffic for your website is dependent on people finding your business in the first place. Here are some of the tactics that will be worth exploring.
Affiliate Marketing
What is affiliate marketing? In short, affiliate marketing is where people send traffic directly to your website or business. You need to reward them for their service, but the thing you need to focus on is that it will provide your business with direct and immediate traffic. You just need to make sure that you are using high quality affiliates. They must be able to deliver the traffic levels that are going to mean a service like this is worth it.
Influencers
Another point to consider would be whether you are using influencers. Influencers have an incredible level of way and power on the market. Particularly if you choose to work with an influencer with a significant level of reach. To find the right influencers, you need to complete plenty of research. Similar to affiliates, there are services that can put you in contact with the right influencers. Some points to consider here is whether or not influencers have a brand profile that matches your own. If they don’t then their support probably isn’t going to have much impact on client interest.
SEO
SEO is very much the bread and butter of any online marketing campaign. The right SEO tactics will ensure that you always gain the support that you need in terms of traffic requirements. Unfortunately, it’s getting harder to know what is the right SEO. The preferred and accepted tactics change all the time. You need to make sure that you are working to constantly keep track of the different solutions and ensure that you don’t fall short here. Keywords and links are still useful but they’re not the final piece of the puzzle.
On the other side of SEO in terms of online marketing tactics, there’s PPC. PPC marketing stands for pay per click. Essentially, it’s paid advertising. If you use this service, instead of appearing somewhere in the search engine results pages, your website will appear in the sponsored results. You might think that these links are seen as spam and avoided as much as possible. However, that’s not the case at all. PPC links get about 30% of the overall traffic. While this isn’t the majority, it’s certainly not nothing. The trick with PPC is setting up a campaign that is going to be cost effective for you.
Guest Posting
Another way to get more traffic to your website would be guest posting. Guest posting requires you to find blogs and websites that are relevant to your target audience. For instance, if you’re running a tyre shop, then you might check out a mechanic’s website. You can then reach out to the owner of that website and ask if they would be interested in a guest post opportunity. They get high quality content and you get another link directly to your website on a page that appeals to the audience that you’re marketing your services to.
If your conversion rate is poor, you’ll have a high bounce rate. This means that users are leaving your site without making a purchase or engaging. Here’s the key factors that can impact this.
Content
It was Bill Gates who claimed that content is king. It’s still true today and important for business owners to keep in mind. However, you do need to make sure that you are delivering the right content. Low quality content isn’t going to give people a reason to stick around for a few seconds. It can’t look like spam. This is why if you don’t have time to create high quality content, you should consider hiring a service to complete the work for you. You just need to set a style guide to ensure that the content created matches your business brand.
Design
When you are exploring the different ways to make your website stand out, your design should be a top priority. It’s vital that you choose a design which matches your brand but also makes a lasting impression. One of the cheapest ways to hit the right marks is with a template. These are usually free on website builders. However, you do need to spend a little time customizing your template to ensure that it stands out. If you don’t do this, then your website is going to end up looking like those of various other businesses and potentially even competitors.
Structure
Another important element to consider would be the structure of your business website. If your website has a confusing or difficult to follow structure, then it’s always going to make customers think twice about sticking around. They don’t want to spend an age searching for what they need from your business. That’s why you need to ensure that your website follows the three click rule. Simply put, this is about ensuring that your customers are never more than three clicks away from what they are searching for in your business.
Speed
Following on from site structure, another way that you can waste the time of users is with a website that is slow to respond. Customers these days expect website pages and content to load in a matter of seconds unless they can blame their poor internet connection.
If you are worried about issues with speed, then make sure that you do run a test online. There are various free tests that will show you how your website will respond on different devices. Remember, a mobile responsive design is often key here. The majority of customers will be accessing your website through a mobile device. This is where you need to excel in terms of performance.
Engagement
Another key factor to consider is engagement. High levels of engagement can be achieved by content as we have already mentioned. But there are other tactics worth exploring as well. For instance, you might want to think about options like live chats. Setting up a live chat solution on your website will ensure that people can immediately connect with someone in your business. Alternatively, they could use an automated solution to gain the answers that they need to commit to the purchase of a product or service. This also helps you avoid the issue with the perception of a slow response to queries so it delivers a lot of benefits.
Security
Finally, you should think about security standards for your business website. Issues with security are always going to be a turnoff for any customers or clients. Customers are wary about security these days and they absolutely have a reason to be. Problems with security could put their personal data at risk and this has already been proven countless times on the market. You should use the services of a professional security team to ensure that your website is set up the right way to mitigate any issues here and provide customers with the peace of mind that they deserve.
We hope this helps you understand some of the key steps that you can take to ensure that your traffic and conversions are at the right point. In doing so, you can gain the high sales numbers and level of demand that your business deserves.
Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. The agricultural sector can be quite competitive. As with any business, managing your company’s resources is key. The following contributed post is entitled, A Quick Guide To Better Managing Your Agricultural Company Resources.
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As an agricultural company owner, you understand managing your resources effectively. You need to ensure that your crops and livestock are well taken care of, but you also need to make sure that your resources are being used in the most efficient way possible. In this quick guide, we will provide some tips on better managing your agricultural company resources.
The first step to better managing your resources is to make a plan. You need to sit down and map out what you need to do to achieve your goals. This includes figuring out what resources you have available and how you can best utilize them. Once you have a plan, it will be easier to stay on track and use your resources effectively.
Make sure to review your plans regularly and update them as needed – this will help you keep on top of changes in your business and ensure that your resource management strategies are always up-to-date. If you don’t have time to make a comprehensive plan, plenty of software programs and online tools can help – more on that later.
2) Automate and streamline your processes
The next step is to automate and streamline your processes as much as possible. This includes using online tools to manage your inventory, ordering supplies, and tracking shipments. There’s no excuse for not taking advantage of technology to help you run your business more efficiently in today’s day and age.
Automating your processes saves you time, but it will also help you avoid mistakes that can cost you money. For example, if you’re manually tracking inventory levels, it’s easy to lose track of what needs to be ordered, leading to stockouts (and lost sales). Automating this process with an online tool can help you avoid that mistake and keep your inventory levels under control.
3) Remember to maintain equipment and machinery
Another important tip for managing your resources is to remember to maintain your equipment and machinery. This includes regularly servicing your vehicles, replacing Agricultural Wheel Rims, keeping your tools in good condition, and ensuring that your buildings are well-maintained. Neglecting this can lead to costly repairs down the line – not to mention lost productivity while your equipment is out of service.
By taking care of your assets, you can avoid these problems and keep them running smoothly for years to come. Additionally, maintaining a good relationship with your suppliers will help you get better deals on replacements or repairs when necessary.
4) Keep an eye on your costs
Finally, it’s essential to keep an eye on your costs. This includes your operating expenses, raw materials costs, and employee wages. By monitoring your costs closely, you can ensure that you’re not overspending and that your profits are healthy.
There are many ways to track your costs, including accounting software or hiring a bookkeeper. Whichever method you choose, make sure to review your numbers regularly to identify any areas where you may be able to save money.
Following these tips can help you better manage your agricultural company resources. By taking the time to plan, automate, and streamline your processes, you can save yourself time and money in the long run. Additionally, don’t forget to maintain your equipment and machinery and keep an eye on your costs – doing so will help you avoid problems.
