Category: Financial Literacy and Money

Advice On Borrowing Money Because Of Losses Due To COVID-19

Two of the focuses of my blog are Current Events and Financial Literacy/Money. The Coronavirus/COVID-19 Crisis/Pandemic has thrown many people’s personal finances into chaos. One avenue for managing this economic hardship is borrowing which can actually confound matters. The following contributed post is entitled, Advice On Borrowing Money Because Of Losses Due To COVID-19.

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If you are thinking about borrowing money, you need to do so with a great amount of care. This is especially the case during the current pandemic. However, a lot of people have found themselves in a position where they need to borrow money. This is especially the case for those that are not eligible for government assistance. In this blog post, we will talk you through some options that are available, as well as providing some advice. It is important to be aware that there is no one singular borrowing solution that is great for everyone. You need to make sure you can always make the repayments, otherwise, you could find yourself in a much bigger cycle of debt.

Unfortunately, the need to borrow money is something most people experience. If you don’t have rich grandparents or generous friends, the only other option is to borrow money from a financial institution or a lending company. Nonetheless, there have been many horror stories of individuals who have taken out a payday loan for example, and then struggled to make the monumental repayments. If you are borrowing money you have to be extremely careful regarding the path you go down.

A credit union is the best place to start
The best place to begin when it comes to borrowing money because of losses you have incurred during COVID-19 is with a credit union. Joining a credit union means that you will essentially be part of a community whereby people are encouraged to save, and lenders lend to other members when they are in need.

There is no guarantee that joining a credit union is going to be an option for you. You will only be able to secure a loan if you are a member. There are a lot of credit unions that are going to require you to save first before you can opt to take out a loan. However, this is not always going to be the case, so it is certainly worth looking at the different credit unions that are out there and seeing whether you will be accepted into any of them.

If you can’t join a credit union, what about a loan secured against your vehicle?
There are many loans to choose from, however, car logbook loans are popular with a lot of people to help them through the COVID-19 financial strain. One of the best things about a logbook loan is the fact that almost everyone can apply. This does not mean everyone will be approved, however, it does mean that there is hope for those with a bad credit history. If you wish to take out a logbook loan you will need to be over the age of 18-years-old, the car must be in your name, and it must be paid for in full. In addition to this, you have to show that you are going to be able to make the repayments. Nonetheless, credit history checks are not always carried out, and therefore if you have a bad history you needn’t be fearful. There is every chance that you may be accepted if you meet the other criteria put in place.

In addition to this, if you take out this type of loan you will still have access to your vehicle. A lot of people worry that they have to hand over their car until they have paid the money back. This is definitely not the case. The only time the company can take your vehicle is if you fail to meet the terms that have been outlined in the contract. Otherwise, you can continue to live life as normal.

A lot of people like car logbook loans because of the easy application process. If you were to borrow money from a bank, for example, it is likely that you would experience an extremely segmented process. You would have to hand over one document, then come back and fill out several forms, then you will be asked for further documents, then you will need to wait for something to be checked, and so on and so forth. It seems to be never-ending. However, with a logbook loan you are usually only required to fill out an application form online and you will be informed of everything you need to provide prior to doing so.

Last but not least, this article would not be complete without mentioning the amount of money you can borrow and the repayment terms put in place. Flexibility is undoubtedly the name of the game when it comes to this type of lending. There are so many companies offering logbook loans and therefore you are assured to find a loan that fits in with your circumstances and your needs. In addition to this, you only borrow what you need. This lessens the risk of you experiencing any difficulty when paying back the cash.

What happens if you have a bad credit history?
Let’s clarify the fact that there are criteria in place you will need to meet when applying for any type of loan. A lot of people have a tendency to assume that anyone with bad credit will not be accepted, but this is not the case. Nevertheless, what makes some of the online loan companies different from traditional lenders is the fact that they do not consider your credit rating first and foremost. If you were to apply for a loan from a bank, for example, you would need a good credit rating to get past the first stage. However, some online lenders are more bothered about the current monetary situation you find yourself in, rather than any mistakes you have made in the past.

They want to know that you are going to have the ability to make the repayments every month, and this is why they want to see that you have a regular income coming in. This is their main priority. This does not mean that your credit rating won’t be considered; some direct lenders will conduct a credit check as well. Nonetheless, this does not necessarily mean that your bad credit rating is going to hold you back. There is every chance that you will be approved if you show the lender you are someone trustworthy to lend to.

Top 5 Reasons Why Efficiency is Vital Within Your Business

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. No matter what kind of business you’re running, increasing its efficiencies will maximize its productivity and profits. The following contributed post is entitled, Top 5 Reasons Why Efficiency is Vital Within Your Business.

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No matter what industry you’re in, you should always ensure that you’re promoting efficiency within your workplace. A part of your business that you shouldn’t neglect, there are so many long term benefits that come with improving it.

Now, there are so many ways that you can do this, from investing in employee training to implementing new processes and utilizing updated software solutions (e.g if you’re within the oil industry, Petrobase.io’s services could prove to be invaluable).

But what are the benefits that you can take advantage of? To ensure that you’re in the know, here are 5 reasons why you should start boosting the efficiency within your business:

It Will Increase Profitability

One of the most prominent reasons why efficiency is essential within your business is that it brings with it the opportunity for higher ROI. When your workers start to become more efficient and you’ve changed your processes so that it’s less expensive to produce goods/services, you’ll start to see your profits increase – something that all businesses want to achieve.

Higher Productivity = Improved Customer Service

When productivity is improved, you’ll start to see your customer service ratings increasing by the minute. Recognizing that they are getting more time and attention, they will always opt for your business over others.

It’s simple, once the systems within your business run faster and smoother, they start to feel the benefit – something that will help your business to thrive in the long term.

It Will Improve Communication

Within any business, the employees are the most valuable assets. So it’s a good idea to invest in systems that make their roles as simple as possible. Once they have the materials and equipment, they will be happier in their jobs – an element that’s crucial to lowering employee turnover.

By promoting efficiency in all aspects of your business, you’ll start to notice that the communication flows effortlessly between all levels of the hierarchy. And one way that you can do this is by welcoming an open door policy. This will also help to boost morale and make the workplace far more productive.

It Helps to Save Time

Whether you run a small business or a large organization, you’ll often feel as though there aren’t enough hours in the day. And this is often felt across your business. However, a lot of this is taken up by time-wasting activities – such as unproductive meetings or out-of-date systems.

To ensure that this doesn’t continue, implement steps within your business to make it more efficient. You’ll then start to see that time is saved and that productivity increases.

It Creates a Healthy Work Environment

If your business is years behind your competitors, you’ll not only be limiting the amount of profit that you could receive, but the work environment could be taking a hit. To guarantee this doesn’t happen, you need to save time when you can, make processes straightforward, put morale as a priority, etc. From this, you’ll be able to create the best possible workplace for everyone.

Final Thoughts

So, those are 5 of the top reasons why efficiency is vital within your business. Something that you should continuously try to improve, it will ensure that your business is competitive, profitable and that your employees are proud to work for you.

How To Get Your Employee Productivity Up!

Three key focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Organizational and Management Discussions. When you’re running a business or an organization, one of your challenges is getting and keeping your you employee’s productivity up. It’s an important consideration as employee productivity is the lifeblood of your business or organization. The following contributed post is entitled, How To Get Your Employee Productivity Up!

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If there is one thing that most employees of various businesses can agree on, it’s that they don’t feel motivated enough to give their all when they turn up for work. Everyone can sit at a desk and twiddle their thumbs while moving from task to task, but you want the people working for you to feel like they have some excitement – some reason to keep going!

Your people are going to create worth for your business, and you want to repay them for that. It’s their job to make money for you, and it’s your job to continue to make your staff feel inspired and like they want to be in your place of business. Of course, there is no true guarantee of being the best company in the eyes of your staff, but your ability to inspire hard work is important. So, let’s take a look at how you can get your productivity up in your employees!

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● The very first thing that you can do is get to know your staff. Your employees are so much more than just a job title and a list of skills on a resume. You want people in your business that you can have fun with and build up an office camaraderie with; and you need to get to know them for that to happen. You do need to make sure that you keep your personal and professional lives separate, but it’s still important to get to know them on a personal level.
● Planning events with Mtievents.com can help you to offer your employees something real to aspire to. Fun has to be a part of the business mix, and you can inject it in so many more places if you have regular events planned. Incentivising your staff is vital for productivity, as is planning your next business party!
● One of the most important things that any business needs is open communication with their staff. Your people should feel like they can come to you with anything, and demonstrating an open door policy is so important for that to occur. Don’t forget that your staff will likely have problems outside your business, so if you’re showing that you can offer them support at work, you’re going to do well at motivating them.
● Training is one of the biggest tools that you have for success in your business. Education allows people to scale up their skills and progress and while that may mean they progress beyond your business, it’s a part of your job to ensure that they have the best possible future. From in-house training to e-learning, you have options to give your staff. Why not lay them out to them and offer help?

People who work for you should feel like they have something to work for. It’s up to you to motivate and inspire people and it’s up to you to ensure that you are offering something that they cannot say no to. Try the tips above and make it work!

What Online Dating Teaches You About Brick & Mortar

Three of the focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. While online dating was made possible by technology, it can teach lots of lessons about brick and mortar businesses. There are strategies the process of online dating can teach individuals who are looking to start brick and mortar businesses. The following contributed post is entitled, What Online Dating Teaches You About Brick & Mortar.

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At first, it can be odd to put online dating and brick and mortar businesses in the same article. They don’t seem like they could have anything in common. But you would be wrong to dismiss their connection. Both rely on alertness, creative thinking, and ruthless decision-making for success. Indeed, online dating encourages users to decide without having met face-to-face the object of their interest. More often than not, you can’t get to know someone after only a quick chat online. As for brick and mortar businesses, tenants need to be quick to secure a location. Many also have to decide on whether or not to accept an offer from a landlord without having even visited the place. It’s not uncommon for business owners to sign on a shop space via a real estate agent or during online interaction. In other words, the skills required for a successful online date are very similar to the skills needed by brick and mortar businesses to protect their shop presence.

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Is it safe to go with the first choice?
Just like on an online dating platform, you can’t go with your gut instincts without doing your research when it comes to brick and mortar safety. Are you safe from physical damage? It’s a question that both daters and business owners ask themselves. The process of coming to an answer is the same. Indeed, the first worry before accepting an online invitation to a date is to ensure the arranged location for the meeting is safe. Similarly, brick and mortar business owners should evaluate the potential threats around the shop location before accepting an offer. Flood risk or high crime rates are dangers you need to understand, as they could put your business at risk.

Appreciate that it takes time to build a symbiotic relationship
Meeting someone for the first time is tricky. There are very few stories of love at first sight. It takes time to build a trust relationship, which is why online daters often agree to go on multiple dates and develop their bond before making a decision. The same principle applies to brick and mortar business owners. Whether you’re a tenant or you own the commercial property, you can’t turn the place you’ve first visited into a success overnight. Structural work, interior decor, and professional landscaping take time, as experts from https://www.neumannsmith.com/ explain to their clients. However, committing to the project and dedicating your energy to enhancing the property and creating a meaningful connection with your audience is the key to success. As such, it’s important to see what something could be if you were to invest work in it rather than expect things to be perfect from Day One.

Don’t be afraid to say no
Brick and mortar tenants, especially, need to review all their options before signing up for a deal that might seem too good to be true. Just like with online dating, if the object of your interest is still free despite their assumed qualities, it’s because there might be something fishy about them. As this article on https://www.bluevine.com explains, one of the first things to clarify with your landlord is the lease agreement. A fantastic location with an unsuitable lease agreement could be a blow to your business.

In conclusion, in many ways, online dating and brick and mortar businesses follow a similar path to success. Balancing research, knowledge-gathering, and long-term improvements with the hectic pace of a fast-moving environment is a delicate art to master.

How To Buy A Property Abroad

A key focus of my blog is Financial Literacy/Money. Most of the time we think of buying property domestically, but there is also the potential buy property abroad. Some people would discourage it, but you can successfully do it if prepared. The following contributed post is entitled, How To Buy A Property Abroad.

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Buying a property is a stressful enough experience when you’re buying one in the area you live in. Buying abroad is even more of a tough task, whether you’re going to move abroad, buy a vacation home for yourself, or buy a property as an investment to rent out as a home or a vacation property. Buying a home that is in a country that you aren’t in is hard, but not impossible. You need to do a lot of research before you decide, to make sure you’re making the right choice.

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  1. Ask all the questions you can think of about where the property has been built before you think about it too seriously. For example, you need to know if the land the property was built on should have been set aside for land agriculture. Does the land have a history of problems like flooding? Make sure you know about any potential issues before you decide to buy anything.
  2. Bring in a local independent lawyer to help you and to advise you during the sale. Ideally, you need the lawyer to speak English and the local language of the country you are looking at property in. If you’re buying a home in a foreign country, then it is enormously beneficial to have someone locally who can help you to understand any laws and make sure you aren’t being ripped off. A local lawyer will also explain things to you to help you avoid any potential permit issues that you might not know about.
  3. Research the area. You want to know a lot about the area you’re going to buy a property in so you aren’t burned with nasty surprises later on. You should check if the area is known to experience earthquakes or other natural disasters, for example. Do some research into what the neighbourhood is like to live or stay in as well. Is it noisy at night? Is it generally a safe area? Does it suffer from traffic problems? All of these things could impact your ability to let the property out if you plan on buying it as an investment, as well as damaging your own enjoyment of it if you’re buying for you.
  4. Look into the planning permission requirements in the local area. If you want to make any changes to a townhouse that you’re buying, then you will need to be aware of any permissions you will need in order to do so. Your property may also need some licenses to allow you to live there. Make sure you look into this properly before you make arrangements to move. If you don’t have the right permissions in place, then you may not be able to legally live in your new house or arrange things like the utilities.
  5. In some countries, poor construction standards can be an issue. To avoid being caught out by this, always get an independent valuation from a local professional surveyor who is not otherwise connected to the sale. Even a new build should be checked properly for any potential problems. Have the property looked over for poor soil, insufficient foundations, substandard building materials, or questionable building locations like flood areas.
  6. When you’re buying a property in another country, you will need to make sure you can actually understand the contracts. You might only get one contract which is in the local language. To make sure you understand what you’re signing, you should get a professional translation done. If you get two copies, one in the local language, and the second copy in English, make sure you still get the translation checked so you know the two copies actually do match.
  7. If you’re planning to buy a property in order to rent it as a home or a vacation let, you need to think about how you will manage the property. Make sure you’ve included the cost of maintaining the property into your budget as well as the cost of buying it. Will you manage the property yourself or will you bring in a managing agent to look after it for you? A local managing agent is the best idea if you aren’t planning to move to the area, as an agent will be able to look after things like lost keys or repairs that are needed without you having to worry about it. Make sure that you can earn enough profit from renting your property out to cover the costs of hiring this management agent.

Do You Understand These Aspects Of Your Business?

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. It’s one thing to want to start or run a business, but there are some key aspects to be mindful of. The following contributed post is entitled, Do You Understand These Aspects Of Your Business?

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When you start your own business, you probably have a good idea of what sorts of things will be the most complicated things you’ll have to deal with. Pretty much everyone knows that accounting and bookkeeping are going to come with a lot of complexity, as well as anything else involving finances. The problem is that many business owners don’t realize just how complicated a lot of the other aspects of a business can be. If you go in expecting something to be simple and easy, then that’s just going to set you up for a rude awakening further down the line. The best thing that you can do is to think about things as carefully as possible very early on. That way you notice anything that will take an extra amount of time and effort before it becomes an issue. With that in mind, here are three aspects of your business which might be more complicated than you think.

Finding your demographic

Of course, everyone knows how important it is to find your target demographic. If you don’t know who it is that you want to be selling your product or service to then, you’re going to be wasting a whole lot of time and energy. The problem is that a lot of businesses do market research that ends up being pretty shallow overall. They might get a decent idea of the age and gender of their target demographic, but they’ll rarely look into the finer details nearly as much, if at all. You should make sure that you’re putting the effort in early to figuring out exactly who your target customer is. What other services do they use? Who do they tend to pay attention to when it comes to product recommendation? Questions like these will make narrowing down your marketing strategies far easier in the long run.

Streamlining

One of the most common issues in new businesses is that they’re too complicated. It’s always a good idea to make sure that you’re streamlining your business as best you can, whether that’s through services like Optisign that streamline your order management, or through focusing your business on singular markets rather than trying to spread yourself to thin. A leaner business is always going to be a better business.

Managing employees

In an ideal world, you’d find the perfect candidates, and that would be that. Sadly, that’s not the world we live in. Not only is it a serious challenge to find the right candidates, but you can’t neglect to support and manage them for their entire period of employment. Each employee is different, and you can’t use a one-size-fits-all approach to managing them. You’ve got to make sure that you’re flexible without losing control of your employees, as well as making sure that you have their respect but that they don’t come to resent you for overworking them.

The reality of running any business is that it is such a complicated affair that if you’re not paying attention to the little details, the whole thing is going to come crashing down around you.

What You Should Know About Your Employee Responsibilities For Health And Safety

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. When you’re a business owner with employees, you have some responsibility for your worker’s safety but they share some as well. In each case you have to be transparent with them. The following contributed post is entitled, What You Should Know About Your Employee Responsibilities For Health And Safety.

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As a business owner, you will know that health and safety are incredibly important. Being complacent can be an extremely expensive mistake, the costs that come from injuries and ill health caused by poor health and safety and working conditions are staggering and can severely damage any company.

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With that in mind, it’s essential for you to know who’s responsible for what in relation to upholding the health and safety in the workplace, following your health and safety policy, and reporting any issues.

For the most part, it is the employer’s responsibility. You need to make sure your employees have the correct safety gear, for example, and you will also need to remain compliant with local laws. With regards the latter, you should check with the local government on health and safety laws in your state and follow them to the letter. Your electrical equipment will need to be certified safe, and if there is a risk of air pollutants, you will need to hire a specialist in Ambient Air Sampling.

However, health is safety is not only your domain. Your employees also have a level of responsibility. Regardless it’s imperative that anyone on site is kept safe, including visitors knowing the fire drills, contractors working safely at heights, or your employees learning the new policies.

Some of the responsibilities your employees have to include:

Take Some Responsibility For Their Own Care For Health And Safety

Your employees need to take an active approach when it comes to the care of their personal health and safety whilst in the workplace, They should be avoiding anything that could compromise this. There is certainly no size fits all for how you put this into action. How it works is going to depend heavily on the working environment you are working in. There are going to be different natural hazards that occur in different workplaces such as an office compared to a warehouse.

It’s best for you to carry out a risk assessment on each working zone in your workplace and with each individual member of staff. You can then discuss the ways your employees can help to look after their own safety with them on a personalized basis.

Cooperation With The Policies

A big part of your employee’s responsibility is to make sure they are following the instructions that you have set in place for health and safety. They’re there for a reason so, make sure they are following the rules. This includes them completing any needed training, communicating with you if there are any issues, and noticing any hazards that appear that are unusual.

It’s a good idea to make sure you keep track of any training your employees complete, this way you can put steps into place to give them the time to complete anything that is missing or updated.

Not Putting Others In Danger

Ok, so your employees need to be looking after their own health and safety, but they also need to be making sure they’re not putting others in danger too. In order to make sure they are fulfilling their duties, every employee needs to put into practice everything that they’ve learned through their training. This includes things like misusing equipment, not wearing protective equipment and taking unnecessary risks. If they see any dangers they should be reporting it straight away. Whether it’s wiring near their desk, drawers have been left open or fire exits been blocked, you can’t physically have eyes and ears everywhere at once. This means your employees need to think of health and safety as part of their job role.

Ultimately you need to make sure you communicate and train your employees to practice the health and safety policies at all times, the above areas will help you to make sure they are following their duties.

Tailoring Your CBD Sales For Success Through COVID-19

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Despite the Coronavirus/Covid-19 Pandemic/Crisis, there is still and demand for CBD (Cannabidiol) products. The following contributed post is entitled, Tailoring Your CBD Sales For Success Through COVID-19.

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CBD sales have increased across the world in recent years, with 14% of Americans now regularly using these products. Yet, even CBD sales have taken a hit in recent weeks as COVID-19 changes lives, buying habits, and priorities.

Given that this is the first real hurdle for the CBD industry since legalization, it’s natural to feel some worry over what this means long-term. At this stage, after all, the market is still green, and there’s no true way of knowing how loyal existing customers will prove once the pandemic has passed.

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Luckily, as is evidenced by current front-runners like CBD Unlimited Inc., the CBD industry does stand more chance than many of weathering this storm and even enjoying boosts. That said, losses elsewhere prove that only companies who continue to put one foot in front of the other will enjoy these benefits.

With that in mind, you need to look forward and keep fighting. And, we’ve got a few of the ways you can do that for success both now and once lockdowns lift.

Perfect your online presence

Given that 70% of CBD sales take place online, the chances are that you already have an ecommerce shop. But, if you’ve primarily focused on your in-person dispensary until now, your basic online efforts won’t be enough to keep you afloat. Instead, now is the ideal time to turn to a CBD marketing agency. Not only will they be able to get your web design just right, but they’ll also be on hand to ensure that you forever adhere to local legislation, and appeal to the right people. As simple as that, you’ll be in the best position to begin flourishing in this lockdown landscape. Even better, you’ll be able to go head-to-head with your largest online competitors once all this is over.

Highlight benefits with COVID-19 in mind

While CBD sadly doesn’t cure COVID-19, it can at least address some of the issues/symptoms that relate to this pandemic on a broader scale. By changing your sales narrative to account for this, you may find that even consumers who haven’t considered use before test out your products. That’s invaluable at a time when few companies are even considering acquisition, and it could see you at the market forefront at last. Luckily, there are plenty of benefits that you can highlight in this sense. For instance, CBD has suspected anti-viral properties, as well as helping to ease potential infection complaints like nausea and fatigue. Not to mention that, outside of the virus itself, CBD can work wonders for reducing the anxiety that we all undoubtedly feel right now.

Expand your expertise

Now is also the ideal time to focus on areas of your business that allow you to expand. For instance, you could enhance your sales for the moment by focusing on things like ‘anxiety packs,’ or even just expanding your range to incorporate items like massage oils and bath bombs to tune into that consumer need. Equally, you could follow in the steps of CBD companies like Beam, who are expanding awareness for their brand using free Instagram live workouts/meditations. Honestly, the more innovative you are, the better chance that you’ll be able to achieve the sales you need. So, have fun with throwing some ideas around, and test them out to see which best capture your audience’s new concerns.

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Stretch, release, and stay beaming ✨ Take care of each other and we’ll be right here with you too. #bettertogether

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Show your support to healthcare workers

Now is also the time to show your support for our much-needed health care workers. Public awareness has shifted very much towards provider support as doctors and nurses put themselves on the front line. As such, CBD companies like Beam have also decided to offer up to 50% discounts for all medical professionals, with a further 10% of their net profits going to Greater Boston Food Bank. This effort greatly helps the community, but it also highlights your company ethics in a way that few people could argue against. While you should, of course, do such things out of kindness and nothing more, that’s certainly not going to harm your sales along the way.

A final word

This is a hard time for every industry and, despite being medicinal, CBD is no exception. The fact is that consumers are distracted, and ultimately buying less due to loss of income, etc. But, as some of the best CBD businesses on the market right now are proving, that doesn’t mean you can’t still expand and grow during lockdown. Simply start by implementing these tips and feeling their benefits.

What Does It Take To Run A Successful Healthcare Business?

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Healthcare businesses aren’t just large corporations. In some instances they are small healthcare businesses. If run properly they can be lucrative. The following contributed post is entitled, What Does It Take To Run A Successful Healthcare Business?

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It is estimated that the global digital healthcare industry will be worth more than $234 billion by 2023. Healthcare is one of the most prosperous sectors and it provides millions of jobs worldwide. While setting up a business in this industry can be lucrative, there are no guarantees of success. To make it to the top, you have to ensure you check a lot of boxes. Here’s a handy guide to what it really takes to run a profitable healthcare venture.

Understanding the market
The healthcare industry is complex, and it would be impossible to launch and run a well-oiled, streamlined business in this sector without in-depth knowledge of how the market works and what is involved in the management of a company that provides medical services. Before you start working on a business plan or try and convert ideas into a functional model, it’s crucial to spend time looking into the mechanics of the industry, researching rules and regulations and analyzing what companies that will be your competitors are doing. It is also incredibly beneficial to look at how the market has been performing in recent years and how it has changed and evolved. The digitization of healthcare, for example, has revolutionized the way providers communicate with patients, how patients make appointments and how practitioners access, store and share data.

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Finding your niche
The healthcare sector is broad and it covers a raft of services and sub-sections. If you’re thinking of setting up a new business, it’s wise to find your niche. What kinds of services are you keen to provide, and who are you targeting? Analyze the demand for services and create an accurate picture of who you are going to treat. It’s important to have an ideal customer in mind when strategizing and drawing up marketing, branding and sales campaigns. Competition within this industry is fierce, and you may want to avoid a market that is already saturated. You need to ensure that your business will stand out from the crowd, and that there is a demand for the services you plan to provide. If demand is low, and your competitors already have an established client base, it will be tough to make waves with a new venture. Look for gaps in the market or offer a new spin on existing models.

Once you know who you want to target and the kind of brand you want to create, conduct thorough research to get to know your customers. Ask questions using surveys and online polls and feedback forms, and use the information and data you gather to inform your decisions going forward.

Getting your figures and finances sorted
Launching any kind of business requires funding. Whether you plan to set up a small, local healthcare company, or you have grand plans for a chain of practices or a national or global brand, you’ll need to ensure that your finances are in order. If you’re borrowing money, or you’re approaching investors, you should have calculations to hand, and you should be able to provide explanations to outline where your money is going. Cost out all your expenses, work on price points, produce realistic turnover projections and make sure you can answer questions related to the numbers. If you’re presenting as part of a pitch to secure funding, or you’re approaching a lender for a business loan, rehearse your presentation, have confidence in what you’re saying and try to preempt questions and prepare answers.

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Checking the legal boxes
As a business owner in the healthcare sector, it is vital to understand the regulations and legalities involved in providing services to patients. There are policies and procedures in place to protect patients, clients and members of staff, and you must adhere to the rules at all times. Make sure you are familiar with the laws that govern practice in your state or country. You will be required to provide high standards of care in clean, safe settings, to take steps to minimize the risk of negligence, accidents and injuries and to shield sensitive data and personal information. It is always beneficial for healthcare business owners to liaise with legal experts to ensure that everything is in place to check the boxes and ensure best practice guidelines are followed. All staff members should be aware of the latest updates in policies and regulations.

Investing in the right equipment and technology
Equipment and technology play an increasingly integral role in medical research and the provision of short and long-term care. As a budding entrepreneur, it’s an exciting time to be starting out in the healthcare field. Before you decide what kinds of machinery, tools or equipment to purchase and what type of technological systems and gadgetry to employ, analyze the competition, look into emerging trends and see what is available on the market. There are some investments that will make more financial sense than others. Spend your money on machines, technology and medical equipment that will benefit your patients, your staff and your accounts. Your purchases should be relevant to the services you plan to provide, and it’s wise to cost out expenses before you make any final decisions.

Cutting-edge technology can make the difference in the world of modern healthcare. If you choose your investments wisely, you should be able to provide the latest treatments, to offer high standards of care on a consistent basis, to improve efficiency and customer service and to minimize the risk of mistakes and human error. Consider what is essential for your business and then explore options that will further enhance the patient experience. From a vaccine fridge and treatment beds to blood pressure monitors, PPE and computerized records systems, it’s critical to ensure you have everything you need to treat patients before you open for business. If you don’t have the right equipment, or you’re using outdated technology, you could lose out to rivals and your profit margins might suffer. Once you’re up and running, it’s useful to conduct audits on a regular basis to see if you could benefit from making changes or upgrading your tech.

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Building a strong team and hiring the best talent
As a patient, there are few things more important than being able to trust the person who is in charge of your care. The team you hire will represent your brand, and in many cases, patients will judge your business based on the individuals they meet and the standards of care they provide. When hiring, look to build a strong, cohesive team made up of talented individuals who have the skills and experience needed to excel in the roles available. Use the interview process to get to know the candidates and look for people who show enthusiasm, passion and commitment, as well as having a brilliant resume. You want to be able to trust your team to take on the responsibility of representing your brand. Working in healthcare is not easy, and you need drive, energy and compassion to succeed. It’s important to think about the kind of person you would want to look after or treat you if you were a patient. The individuals you hire should embody the ethos of the business.

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Marketing your business
Achieving success in business is not just about receiving 5-star reviews. It also involves turning over profits. In the healthcare sector, marketing plays a key role in connecting patients with practices and driving sales. Use the findings of market research to engage with people who are likely to have an interest in the services you offer and choose techniques and platforms that will enable you to reach the right audience. The healthcare industry is unique, and for most patients, the number one priority is finding a reputable provider that champions optimal levels of care. Your marketing and branding strategies should reassure prospective patients that you are trustworthy and reliable at the same time as up-selling your USP and encouraging customers to want to learn more.

In this day and age, it is vital for healthcare businesses to engage with clients online, and having a fantastic website is an excellent place to start. People who search for healthcare providers and practices online are often looking for information, and providing accurate, factual guides, FAQ pages and informative, interesting blog posts can help you attract attention. It’s a great idea to vary the content you share on your website and social media channels. Infographics and video clips can break up text and make information more digestible. The brain processes visual content 60,000 times faster than text, and videos are much more likely to be shared than text posts.

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Attracting positive reviews
Research suggests that over 70% of patients consider reading online reviews a crucial part of choosing a medical practice or a doctor. To attract new patients and keep hold of existing clients, you have to ensure that you provide the highest possible standards of care and customer service. Offer training for staff members, always ensure patients receive a warm welcome and go out of your way to help every individual feel safe, comfortable and relaxed. Try to ensure that appointments run smoothly and efficiently, communicate with patients on a regular basis and make it easy and quick to organize and pay for treatments. Invite patients to leave feedback and reviews, read comments and take ideas and opinions on board. It’s essential to learn from both the positives and the negatives.

Launching a successful healthcare business isn’t straightforward, but if you make the right choices, you’re committed to providing the highest standards of care and service for your patients and you deliver on promises, it could be a very rewarding decision.

Online Shopping: Securing Your Private Data

Two of the focuses of my blog are Financial Literacy/Money and Technology. While online shopping has made our lives easier and in some ways more efficient, it has introduced new and unique dangers to us as well. There are unscrupulous individuals our there who are looking to take your personal data and information for theft. The following guest post is entitled, Online Shopping: Securing Your Private Data.

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Online shopping has become easy. You’re not only able to find the local or overseas products you want on the internet. You also have multiple options for shipping and payment. But all these ease can sometimes come with a price: your security.

Every time you click on the “check out” button, you’re entrusting sensitive information, like credit card numbers and PINs, e-mail addresses, and home and work addresses to an online store. When hackers get a hold of your personal details, your identity may be stolen. So you need to be consistently on-guard against security threats.

Follow these steps to safer online shopping:

Stick With Tried-and-Tested Sites

The Philippines has a wide variety of trusted online stores and marketplaces to choose from, like Lazada, Shopee, and Zalora. They have robust security and buyer protection policies. For overseas purchases, buying from Amazon and shipping to the Philippines through a forwarder is your best bet.

You may find some obscure online stores that provide deals that are too good to be true. It’s best to stay away from these shops or at least search them up on review sites, like Trustpilot to see if they really are legit. As for branded online shops, check with their official website or social media to see if they do own the store.

Look for a Private Connection

Every time you visit a reputable website, you’ll see a lock icon on your web browser’s address bar. This symbolizes that the site is encrypted. No one else can see or access what you download and upload on the site except you and the website’s servers and admin.

It may also be a sign that the site you’re visiting is legitimate. As such, you should look for this lock in every online store you visit to ensure your payment and personal information aren’t intercepted by cybercriminals.

Pay Smart

Credit and debit cards offer a convenient way to pay for your goods. However, using them to pay for products online may not be the safest route. Illegitimate online stores and data breaches on legitimate ones may cause your payment data to land in the hands of hackers.

Use a prepaid card from your bank, which you can load up with the exact amount of the product, plus the shipping fee. Unlike credit cards, which have spending limits, prepaid cards are useless to cybercriminals when they’re empty. Cash on delivery is great as well, as you get to receive the product and inspect its packaging before actually paying for it.

If you have no choice but to use your credit or debit card, however, consistently check your transaction history on your bank’s website. If there are products you’re sure you didn’t pay for, call the provider immediately to file a dispute and get your money back.

Buying from online stores is a great way to get the local and foreign products you’ve always wanted. As convenient as they are, however, you should practice caution when buying from them. Consider these suggestions for a safe and secure online shopping experience every time.