A key focus of my blog is Financial Literacy/Money. While your credit score isn’t necessarily the be all and end all for your personal financial health depending upon your own unique circumstances, it’s definitely better to have a good score versus a bad score. If you have a lower credit score and want to raise it, it’s absolutely doable. The following sponsored post is entitled, 3 Tips for Raising Your Credit Score.
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Your credit score is important as this number is often what qualifies you for the loans you need to make big purchases. Unfortunately, many people have subpar credit score due to having too much debt. It is never too late to work on improving your credit score so if you use these three tips, you can boost your score so you can qualify for large loans in the future.
Pay Off Debt
Paying off debt is the simplest way to improve your credit score but it can be difficult to do when you live paycheck to paycheck. Start by tracking your monthly expenses and creating a budget. Then make sure you have paid all of your bills and place any extra money you have on your lowest credit card bill. Paying more than the minimum payment will help you pay off the card more quickly.
Keep Lines of Credit Upon
One of the biggest factors for your credit score is the ratio of debt to available credit. The higher this ratio is, the lower your credit score will be. For this reason, it is a good idea to keep lines of credit open even after you have paid them off. Your credit score will increase as debt goes down and you have more available credit for each of your cards.
Monitor Your Accounts for Fraudulent Charges
While most credit card companies catch large fraudulent charges to your account, they may not notice small charges that add up over time. If you aren’t monitoring your accounts, you may find yourself paying for these charges without realizing it. Make it a habit to check each of your accounts regularly so you can initiate a charge review if you have any fraudulent charges.
Improving your credit is a lengthy process but it can be done. Use these three tips to get started.
Two key focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. When running a company or a business, one of your critical jobs in addition to selling your product or service is managing waste. In doing so you’re managing costs, which ultimately impact your profits and revenues. The following contributed post is entitled, 4 Ideas To Improve Waste Management For Your Company.
Waste management is important for businesses for many reasons; firstly, waste equals loss of revenue, and secondly, waste compromises sustainability goals. Besides this, wasted time means loss of productivity and workplace morale. To improve waste management within your organization, these four ideas will support your progress.
1. Adopt Lean Principles
To produce less waste, companies need to adopt a strategic approach based around lean principles. Lean principles have the end goal of reducing waste by improving production processes. Lean focuses on reducing waste in seven different areas, including motion, inventory, defects, overproduction, transportation, and overprocessing.
Several different lean software packages can help businesses to reduce waste; one of the leading platforms is Pipefly. With this lean management platform, you’ll support your company to reduce errors, decrease lead time, and improve efficiency. Pipefly can support users to adhere to lean principles, beginning with ‘identifying value.’
Lean philosophy is all about using less resources while offering more value. Using Pipe Fly, you can map your value stream, create flow, establish pull, and work on continuous improvement. With all these important areas covered, you’ll greatly improve your waste management!
2. Improved Recycling Practices
To improve your waste management, it’s crucial to put highly effective recycling practices in place. When you are choosing supplies and resources, choose those that are easily recyclable and biodegradable. Materials such as plastics and cardboard are fairly simple to recycle. For materials such as e-waste or metals, you’ll need to hire specific companies and ensure that you adhere to the correct waste disposal regulations. Norstar is a great company for all your metal recycling needs; the service includes free pick up and focuses on sustainability initiatives.
3. Motivate Your Staff
Simple but true, to improve your waste management, you’ve got to motivate your staff. Create a waste reduction plan, write up new recycling policies, and train your team. It can be helpful to set goals together; having something to aim for will serve to motivate you. What’s more, creating goals as a team can improve employee satisfaction and create a stronger company culture. Once you reach your goals, it’s time to set new ones, keep going until you’ve eliminated waste from all areas of your business! To help you set goals for your business, try using apps such as ‘Goals On Track’ or ‘Habit Tracker’.
4. Vet Your Suppliers
When you’re looking to reduce waste, it’s good to vet your suppliers and see if improvements can be made. Waste includes wasted money and time as well as resources. Due to this, you’ll want to make sure you’re getting top quality items at a great price. To find the right suppliers, it can be useful to use a supplier information management database. A SIM database allows you to search for suppliers based on specific credentials, (including sustainability initiatives). Now more than ever, companies must prioritize sustainability across all areas of their business operations. With less waste, you’ll boost your profits and provide more value to your customers.
Three focuses of my blog are Current Events, Financial Literacy/Money and Business/Entrepreneurship. We’re still in the Coronavirus/Covid-19 storm with no end in sight. Furthermore, the effects will be felt long after the storm has passed. Even in the aftermath, businesses will have to figure how to move forward. The following contributed post is entitled, Lockdown May Be Over, But Your Business Is Still Vulnerable.
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The fear and uncertainty of spring are now a distant memory. Businesses of all shapes and sizes all over the country are dusting themselves down and trying to resume a semblance of “Business As Usual”. Yet, while the lockdown may be over (for the time being at least), things are still far from back to their normal speed. You will likely be making fewer sales (unless your business name rhymes with Glamazon). You may have had to lose members of staff or radically change your operations to enable your team to work from home. You may have had to invest heavily on a physical and digital infrastructure that allows you to operate safely.
While it’s nothing you can’t navigate, you know better than to kid yourself. The next year and change could make or break your business. And while you should absolutely retain your sense of optimism, you also need to be aware of the very specific vulnerabilities your business faces in this challenging time…
Customers are scared to come back
While your business may be ready to receive customers now, not all customers are ready to do business. Many of your customers will have lost their jobs or at least lost a portion of their income. As such, consumer confidence is still at its lowest in years throughout much of the world. As such, you need to devote your marketing efforts to making customers know that they can return to your business without endangering their safety or their financial security.
Entice them in with promotions and targeted offers. Let them see what measures you’ve taken to keep them safe on and off-site. Establish yourself as someone they can rely on in this time of crisis.
Remote employees mean cyber security vulnerabilities
Unfortunately, times of crisis tend to mean open season for cyber criminals. And in the wake of the pandemic, they’ve been hard at work coming up with all kinds of phishing hoaxes, ransomware attacks, DDoS attacks and all manner of other nasty schemes designed to exploit vulnerable businesses. And although you may be able to protect yourself on-site, when employees are working remotely, this can create extra vulnerabilities. Work with an outsourced IT company like Levit8 IT Solutions to ensure that you’re covered on and off-site.
Cash flow is more important than ever
You’re more than likely facing a future of increased expenses and reduced sales. Which means that cash flow is more important than ever. Take your eye off the ball and you may find that you lose control of your finances resulting in unpaid vendors, late fees, charges from your bank and all manner of other avoidable costs that can further restrict your cash flow.
You need to focus on more than just staying afloat
Finally, if you’re to thrive in these punishing times, you need to focus on more than just staying alive. You need to focus on how each department’s performance metrics tie in with your broader business KPIs and goals. You need to ensure that you’re doing everything you can to maintain your profit margins and invest in Business Intelligence solutions to mine actionable insights from your data. Strategy is more important than ever. Don’t just react!
Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. As a new business owner, you always have to watch your costs and carefully manage debt if you’re going to use it. In general, you have to keep your operations financially healthy for as long as you can. The following contributed post is entitled, 3 Ways To Avoid Bankruptcy When Starting A Small Business.
Staring a small business can be fulfilling, exhilarating and downright stressful at times. There are a lot of things that are involved when it comes to creating something from the ground up. One of the biggest hurdles most business owners face as they are starting up is the finances. The common known phrase it takes money to make money rings true. If you are a small business owner, you may be wondering how can you avoid small business bankruptcy when the money is tight. Well, here are some useful tips to keep in mind when it comes to capital and your small business.
Have A Plan
Planning is the ticket to a stress-free life in your journey as a small business owner. Creating a business plan with clear goals, detailed steps of execution, in-depth regulations and governing of the workflow is imperative to your company’s success. Your plan will give you the blueprint for making educated decisions about where you want your business to be located, the pricing of your product or service as well as how much it costs to run your business, and what to invest in. You also want to keep in mind that when you are asking for funding, investors are going to ask for a business plan, so it is better to have one than not.
Make Sure Your Product Or Services Are Quality
There is nothing that will bankrupt your small business faster than not providing quality products or services. You want to be sure that when you launch you are providing customers with the very best your business has to offer. Cultivate a strong and authentic brand for your product or service. If you already have existing customers, maintain great relationships with them. Put your focus on reaching your target market.
It Is Ok To Borrow But Do Not Borrow Too Much
This can be tricky. There is nothing wrong with borrowing money to get your business off the ground. The issue comes when you have found yourself borrowing too much money. Then you have found yourself in a tough situation that could lead to bankruptcy. That is why being mindful of how much you need to borrow is important. In a perfect world you may have saved up a nice chunk of money that you can invest in your business, but more than likely you will have to borrow some money.
No matter what, you want to be sure that you will get a return on your investment. Keep track of the monthly interest, how many installments you will pay and for how much and the term of your loan before you decide to sign. When going over your business finances, be sure to deduct loan payments from your profits that way you can fully understand how much the loan will cost you. Once you know how much the loan will cost you, down to the penny, you will have a better handle on paying the money back.
Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. A medical practice can be lucrative, but you have to know how manage costs. Managing you costs will assure that your practice stays open for years to come. The following contributed post is entitled, Top Tips For Cutting Costs In Your Medical Practice.
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2020 so far has been a tough one for the medical industry. In fact, it is fair to say it has been one of the hardest-hit industries, with staff working flat out to deal with the pandemic, but also facing an uphill struggle trying to keep themselves safe and securing appropriate PPE. Whether privately owned or state-owned, the medical industry is going to have to do all it can to claw back some much-needed cash over the next few years.
While there are obvious things you can’t cut in order to provide the very best care to your patients, there are some things you can do to cut costs and make some savings to help your medical practice get through the next few months and years.
More and more businesses are turning to outsourcing and that is because it is an effective and efficient business practise. Yes, it costs you money, but in the long-term, the savings it can create can be invaluable. It gives you time back to work on growing your medical practice and providing the best care to your patients and allows specialists to do the jobs to the best of their ability.
It can be difficult to know what to outsource – certain tasks are better than others. If you have a website, you might want to pass the management of it over to a web specialist who knows their stuff. Other options include your billing telehealth services, human resources and payroll.
Encourage remote working where possible
More and more medical practices have implemented remote working during the pandemic, taking video calls with patients rather than face to face interactions. It is a way of working that no one would have thought possible a few months ago in the medical industry, but many practices have found that not only is a great way of keeping staff and patients safe but is actually a really cost and time effective way of seeing patients.
Of course, not every single appointment can be done this way – there are still some people that will need to be seen, but think about whether remote working can be done as far as possible for as long as possible in your practice.
Reduce the necessities
The one thing the pandemic has done for us is to show us what is important and what isn’t. Take a look around you and think about what has remained unused or unneeded during the past few months. For example, if you have a fleet of company cars that have stayed in driveways or out in the parking lot, look at getting rid of them, or at least reducing the number of them. If those overseas business trips haven’t been missed, consider getting rid of them altogether, or streamlining the most essential ones.
The medical industry – and indeed, many other industries – are going to have a tough few years ahead of them, dealing with the economic and health fallout of the pandemic. By following these tips, you can make savings and get through it without too many problems.
Three key focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. Technology has created changes in all aspects of world including business. It has transformed the private sectors in several key ways. The following contributed post is entitled, 5 Ways Technology Has Transformed the Private Sector.
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Technology has dramatically affected our daily lives from portable telephones to self-driving cars and even cashless systems. The relationship between technology and business is an ever changing phenomenon that is both interesting and intriguing. Through this relationship, companies have found new and improved ways of carrying out their activities. This article takes a look at five ways technology has transformed businesses in the private sector.
Technology is an excellent investment for businesses, and these investments have created a phenomenon in companies known as business process automation. What this means is that human interference is not necessary for the processes and operations of the business. There are many software programs, machinery, and other tech solutions that help companies complete their tasks. These solutions are faster than humans and do not require much financial support- like wages (or an increase) and other forms of financial aid.
2. Improvement of communication
There are so many ways in which businesses can reach out to their current and potential customers. Social media platforms like Facebook, Twitter, and Instagram have all created features which can be favorable for companies, helping them improve their customer care service. There are also some tech solutions, like live chatbots on company websites, which allow many companies to be more responsive. For example, if you should have a flood disaster in your area, it may take a while for an ambulance to get to you. But, a commercial water damage company might be able to give quick response time due to their advanced communication technology.
3. Increase in efficiency and quality
Unlike human beings, technology allows for faster processing of data and easy retrieval of information. Humans make mistakes, even when performing repetitive tasks, and also tend to consume time. But these issues are removed when technology takes their place. Such a thing usually happens in the manufacturing business, and many factory hands are replaced by machines to improve the efficiency and the quality of the products made.
4. Improvement in security
Security is a vital component in the operations of businesses, and technology has played a crucial role in its improvement. Facial recognition systems, fingerprint scanners, retina scanners, and secure software algorithms are some of the developments technology has made in security for safety at the workplace. With these improved security systems, the business can run safely with little fear of experiencing a breach in security such as theft or a leak in sensitive information.
Machinery does not necessarily have to replace humans for the business to be productive, but technology can help employees to be more productive. One of the significant elements of productivity is time management. With computers, data can be retrieved and processed faster, giving employees the time to work on other things- meaning that more tasks are done in a day. Alongside this, though, the right machines can also have a dramatic impact on productivity, with options like stainless steel fabricators making it much easier to work with challenging materials.
With technology, the private sector is experiencing a great advantage, and the improvements in the various components of business make technology a worthy investment to make.
With technology, the private sector is experiencing a great advantage, and the improvements in the various components of business make technology a worthy investment to make.
A key focus of my blog in Financial Literacy/Money. A significant part of your personal success and quality of life is your personal financial health. Taking control of your finances is particularly important when you’re struggling. The following contributed post is entitled, Take Control of Your Finances When You’re Struggling.
Everyone experiences money troubles of different kinds. Even when you’re financially comfortable, you can have times when you’re trying to work out how to stretch your money further. There are also times when you can feel like you’re really struggling and you don’t know how to get back on track. Your money problems are ruling your life, but you don’t know how to make them go away. You could be in a lot of debt or struggling to pay the bills, and you feel like you have no control. If you want to start getting control of your finances, have a look at these steps.
Make a Plan for Your Debts
Most people have some kind of debt, whether they’re paying off a phone, have a credit card or have a mortgage. Some debt is good debt, but there’s also plenty of bad debt, and it can weigh on you heavily. Making a plan to pay off your debts should be a priority if you’re having financial problems. You might need to look into tax relief options if you’re struggling to pay off a tax bill or consider debt consolidation if you have a number of debts. Look at different strategies for paying off debts too. You might pay off the cheapest or the most expensive first.
Everyone who wants to get their money under control needs to start budgeting. When you set a budget to stick to, it helps you to control your spending. The first thing that you need to do is take a look at what you’re currently spending. Work out how much your fixed expenses are, then come up with a reasonable budget for more variable expenses, such as groceries and clothes. Once you have a budget, you can track your spending, and you’ll be more conscious of whether you’re sticking to your budget.
Review Your Spending
After creating a budget, you might be able to start saving some money by lowering both your fixed and variable expenses. For example, review your bills to discover whether you could save any money. Find any subscriptions or services that you no longer need or that are wasting your money. Do you really need cable TV? Do you use that Netflix subscription? Getting rid of unnecessary spending can help you pay off debts faster, save more or have more money to spend on things that you want or need.
If you feel like you need to reconnect with your money, consider using cash only to pay for things. You can set up automatic payments for bills, but when you do things like go grocery shopping, withdraw a set amount of money for the month so that you know exactly how much you have left. Stop using your credit card and even debit card for a while, and slowly start to use them again if you feel comfortable.
You can take back control of your finances. Start taking a close look at any debts, your spending and how you could save money.
Three focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Current Events. In the aftermath of Covid 19, communication is going to be critical for businesses of all kinds. In addition to the human health crisis it caused it arguable caused business crises as well. The following contributed post is entitled, Why Better Communication Is Essential After Covid 19.
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Because “organizational change” is now in the daily vocabulary of companies and – due to the Covid 19 crisis, it often acts as a synonym for adverse surprises or has an unpleasant effect on employees. The importance of proper communication stands out as the overriding priority because now more than ever, businesses need to ensure, across all industry niches, that they are working as a team to override the issues caused by Covid. It may also be that you need to branch out and look at seeking legal representation to ensure that you are getting back on track.
The first principle of a good strategy is to make tough choices for the best use of limited resources and not try to communicate everything to everyone at the same time. A message that is general and not two-way, rarely stimulates the mood for a change in behavior or way of working. The questions that need to be answered is: “who, when, why”. Which means a careful analysis, with whom we want to communicate, at what stage and for what purpose. Of course, each stage of change requires its own specific “audience” and it’s important to know who you’re wanting to target. In the initial stage, the audience is numerically small and exceptionally high.
Internal marketing
It is also recommended to avoid “internal marketing” of change through the Intranet, with posters, slogans and related messages, which may increase the information, but do not convince anyone in favour of any change. Instead focusing on better campaigns and better use of social platforms to spread awareness and implement changes, including new ideas, ways to connect, ways to market research and promote better services.
The wording matters
In large organizations it is not possible for the CEO to be extensively involved in communication which is why the email and phone systems used are vital. It is also important to look at ways to improve your business such as custom wire manufacturers to ensure that your connection is impeccable. Look at what your staff need. Do they need new technology? Do they need to have better schedules and reassess what they need to do in order to achieve new goals following Covid 19. Do they need upgraded systems or better security to protect the business?
A proper process of change gives employees the opportunity to ask questions, to disagree, to provoke opposition, in order to finally assimilate the need for change. In short, make the change part of their business because often it is the employees that can see the workings of the company better and may be about to troubleshoot more effectively. Communication with its advantages to balance and bring the best quality and financial results for the business, reducing costs, saving time and increasing productivity and efficiency. Be sure to set new goals and problems to solve all the current issues before moving forward. Covid 19 may give you the chance to shake up the business and reset it to achieve a healthy and successful future.
Two of focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Today the Cannibus business is very lucrative for those who know how to successfully work in it. It’s not all fun and games though and there are some key aspects to consider. The following contributed post is entitled, 4 Things You Need to Know Before Starting a Cannibus Business.
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The cannabis industry has seen continual growth over the last several years, especially as it continues to become legal in more states. It’s becoming so popular that about 14% of Americans now use CBD products on a regular basis.
So, it’s no surprise that people who are passionate about the benefits of cannabis are considering starting their own businesses. It’s important to keep in mind that because of the long history of cannabis, there are still some stereotypes and specific schools of thought on it. Needless to say, for the time being, it is still a niche business, which needs to be taken into account as you get started.
But, if you’re willing to educate yourself and know what to expect before you get started, you can absolutely start your own successful cannabis business from the ground up.
Let’s take a look at a few things you should know before you decide to jump in headfirst.
Cannabis still isn’t legal in every state. In the states where it is legal, there are typically a lot of rules, regulations, and strict guidelines to follow.
The last thing you want is to get started only to get shut down right away because you’re not compliant with one of those rules.
It’s important to educate yourself on every aspect of the law as it pertains to your business. You may even benefit from hiring a receivables management crew that specializes in the cannabis industry, so you can put your focus elsewhere.
2. Choose Your Niche
Saying you want to start a cannabis company simply isn’t enough. You actually should think about making your niche even smaller in order to be more successful. Think about what you’re most passionate about within the industry and where you think you would sell.
You can either choose to be a grower/cultivator or sell retail products. You can even create your own variety of cannabis-infused products and get into the manufacturing side of things. Once you have a better idea of how you want your business to run, you can start to work faster toward getting it off the ground.
3. The Right Name Will Go a Long Way
Because the cannabis industry continues to grow in popularity and more businesses continue to pop up, it’s important to stand out. That starts with the name you choose for your business. While it can be tempting to turn it into something humorous or even “edgy,” think about who you will be marketing to, in the long run.
Your goal should be not only to draw in customers who are already interested in cannabis. Instead, it should be to make everyone realize that cannabis isn’t a “dangerous” or bad thing, and it can actually help with a variety of different ailments.
So, choose a name that reflects who you are and what you want your business to represent. Make sure it’s memorable without being crass, and make sure it describes what you have to offer so no one gets confused.
4. Be Careful With Marketing
Again, because of the laws and regulations in place, marketing can sometimes be an issue for cannabis business owners. One of the easiest and safest ways to market your business is through social media.
Simply creating accounts on various platforms and staying active on each one is a good place to start. You can also purchase sponsored posts or advertisements. That allows you to target specific age groups, locations, etc., so you can focus on bringing in the right audience to help your business grow.
As you do start to become more popular, social media marketing will start to do even more work for you. Once people know who you are and the quality of your business, they will leave reviews, recommend your place to friends online, and be more willing to interact with you on social media. Marketing experts know that word-of-mouth advertising simply can’t be beaten, and that includes online. So, even if you don’t know much about social media, don’t be afraid to get your feet wet, or hire someone who has experience working on those platforms.
Is a Cannabis Business Right for You?
Though the industry is rising in popularity right now, that shouldn’t be the only reason you consider starting a cannabis business. It should be something you’re genuinely interested in or passionate about. That will give you the drive to make sure everything is legal and compliant, and it will motivate you to market your business well.
If you do have an interest in the cannabis industry, keep these tips in mind as you consider starting your own business, and you’ll have a better chance of reaching success in your community quickly.
A key focus of my blog is Financial Literacy/Money. A key aspect of your financial health is managing and navigating taxes. The tax code is ‘mammoth’ in terms of size and is continuously evolving. It’s thus difficult for the lay person to keep up with it depending on your personal financial circumstances. When appropriate, it’s thus wise to hire a professional. The following sponsored post is entitled, Organize Your Taxes with a Professional.
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No one in their right mind looks forward to the tax-preparation season. If you are like many people, you probably put it off as long as possible, often well past New Years Day in any given tax-preparation cycle. And as time goes on, the number of complexities seem to ever increase. It can be difficult to plan and be organized.
One way to stay ahead of the process is to take a look at your financial and tax situation well ahead of time. By doing this, you can systematically unveil some opportunities to save on your tax bill. Heck, you may even get money back that you didn’t think you have coming.
Just a Few of the Tax Items to Keep Track of
The US Congress and the Internal Revenue Service are the proud creators of a gigantic, labyrinth-like tax code. Embedded in this monumental set of laws are numerous potential tax-saving possibilities. The key is that you need to know about them in order to take advantage of them.
Here are a few of the things you may need to understand and keep abreast of:
• Tax-loss harvesting • Charitable giving • Deferring income • Deferring capital gains • Medical expenses • Extra mortgage payments
These are but a few of so many to be aware of.
Perhaps it’s Time to Work with a Professional
The federal government is the proud creator of an immense, labyrinth-like tax code. It can drive you bonkers. Perhaps its time to partner with a professional tax organizer Glen Burnie MD. Here are just a few of the benefits of hiring a competent and knowledgeable professional:
• Pay the least amount of taxes • Professional, up-to-date monitoring of the tax code • Recommendations of tax-savings you never thought about • Representation if ever needed
So, consider making tax preparation season less of a hassle and claim every deduction you are entitled to!
