Category: Financial Literacy and Money

Have You Got What It Takes To Start A Business? Let’s Discuss

Two key focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Starting a business requires a specific set of skills not everyone possesses. In addition to the skills needed by an entrepreneur, there are also a set of tangibles as well. The following contributed post is entitled, Have You Got What It Takes To Start A Business? Let’s Discuss.

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The end of the year is in sight and because of that, a lot of people are starting to think about goals and resolutions for the next twelve months. It might be that you want to focus on your lifestyle. Improving your health and fitness and placing more focus on your mindset. Maybe it is financial goals that you have in mind. For many, it is about progressing their career, starting a business from an idea and working for themselves. There are many incentives to want to do it, it might be more time, improvement on your lifestyle once more poor simply an ambition you want to conquer. But do you have what it takes? With that in mind, here are some of the things to think about.

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Work on your idea and create a business plan

One of the first things you need to think about doing would be to work on your idea and create a business plan. This might sound obvious, but many people are in love with the idea of working for themselves but have no clue how or what to do to make it happen. You may already have an idea that you have worked on for some time. Or it could be that you just have the desire to do it. Working on your idea and then creating a business plan to support it can help you to make the dream more of a reality.

Do you personally have the right skills to do it?

Another thing to think about would be to decide whether you have the right skills to make it happen. Sure you may think that you have that entrepreneurial flare but do you have business know-how to go with it? This is when speaking to business coaches for entrepreneurs could help you do that. They may be able to give you confidence and the boost that you need in your skills to help you on your way to starting a business from home or working for yourself.

Where will you work and when?

Working for yourself does bring up the question of where you will work and when is the best time to do it? Many businesses will start off from home, and this can give you great flexibility as well as keeping the costs down. But you might also need to think about when the best time to work is. For some people, they may be more productive in the morning, whereas others will find working in the evening is the best time to make the most of family life and other commitments during the day. Having dedicated time and also a dedicated space to work can help you to stay focused.

The financial backing to do it

Finally, you may need to consider what financial backing you have? This might be because you need to think about supporting yourself and your family in those early set up days. Or feeling the need for an investor to help you kick start the venture in terms of products and creating a brand.

Let’s hope these suggestions help you to start your own business next year.

Tips On Finding A Good Wholesaler

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Depending upon the type of business you’re running, finding a good wholesaler could be the difference between your operations sinking or swimming as they can help you properly manage the costs of your goods and services. The following contributed post is entitled, Tips On Finding A Good Wholesaler.

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https://www.pexels.com/photo/men-going-around-a-warehouse-1797428/

There are many businesses that use and sell wholesale products, from general home stores to event planning companies. Unless these businesses make their own products, they need to find a good wholesaler to provide them with the products they require.

If you take a look on the Internet, you will see that there are many companies offering items on a wholesale basis. Nevertheless, the importance of choosing with care cannot be overlooked, which is why we have put this handy guide together. Keep on reading to discover how to find the best arwholesale company for your requirements.

First and foremost, you will want to take a look at the company’s product selection to ensure they have a wide range of products for you to choose from. Choose a specialist company, for example, if you need mannequins, then shop at the likes of https://shop.moremannequins.co.uk/, rather than a general store.

Aside from this, you also want to be sure that the company has the capability to cater to bulk orders. Is there are a restriction on the number of items you can purchase? It is imperative to make certain the wholesaler can handle the level of demand you are going to place on them, otherwise you will only be frustrated when they can’t complete your orders.

Quality is a vital factor. After all, the level of quality the company offers is going to reflect on you. Therefore, if you purchase cheap artificial flowers, for example, which look tacky and you can easily tell are fake, they are going to look bad for your business and your brand image, as you are presenting these flowers to your customers as your products. You may want to consider making a small order initially to check that you are happy with the products being sold.

Aside from this, it is a good idea to read reviews that have been left by previous customers to see what they have to say about the wholesale products they purchased from the company in question. You should be able to pick up on anyone with a bad reputation with ease.

Aside from this, the price is, of course, a pivotal factor when it comes to purchasing wholesale products. Needless to say, you should never choose a company simply because it is the cheapest. However, you do need to make sure the products are reasonably priced, especially as you will want to make a profit yourself. It is a good idea to go for a company that offers special deals and discounts, whether it is free delivery or reductions on bulk orders, as this presents you with an effective way of making your money go further.

3 Ways To Improve Your Business

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. As a business owner, you must be constantly looking to evolve and improve. Doing so will increase the likelihood of your business thriving. The following contributed post is entitled, 3 Ways To Improve Your Business.

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When you run your own business, you are working hard building and maintaining it and are likely to always have an eye on how to improve it. The difficulty can sometimes be in stepping back from the day to day and seeing what else you might be able to do differently, which is why today we are sharing with you 3 ways to improve your business, in the hope that we can spark a few ideas for you.

Image Pixabay – Pixabay License

Concentrate on your customers

Your customers should always be the focus of your business, of course, so how much do you know about them? How well do you understand their requirements and needs? How satisfied are they with your service and products?

If you do not do so already, you need to seek customer feedback regularly. Get feedback directly, do not attempt to second guess how your customers feel about your business.

Your customers will have an opinion and they can probably offer you valuable criticism that you can use to improve on what you currently do. Be open to hearing everything that they have to say and take it all on balance before devising new plans and strategies.
Customers appreciate that you are taking the time to ask for their views and will be more likely to engage with you and continue to buy from you if they can see that you are taking their ideas and feedback on board.

Work with the professionals

It can be easy to fall into the trap of thinking that you need to learn and master every single aspect of your business, after all it is all yours. However, there is absolutely no need to do this as there are experts out there only too willing to step in and support you.

Whether your busy would benefit from managed IT from companies such as UOTech.co Managed Services or you would appreciate some support around your marketing strategy, it can make a lot of sense to start working with the professionals. It will mean that you get some guidance from specialists in their field, they can take a burden from you and free you up to focus on other areas of your business.

Build an effective team

Your business can be improved if you are working to build an effective team. To do this, you will need to recruit wisely and then put the time in to training and coaching them consistently. Everybody should be clear on their role within your team and be confident to carry out that role. They should be made to feel valued and an integral part of your business.

Look after your team by showing how much you appreciate and value them. Work on the ambience of your office, take the time to spot when they have done something well and thank them, and look out for ways to reward them appropriately. Keep the lines of communication open so that everyone feels that they are a part of your business and feel able to contribute their own ideas to help you to continue improving.

Making Money From Your Craft Skills

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Do you have a craft that you think can make money for you? If so you can create a potential income stream for yourself as customers will spend money for unique crafts that they see value in. The following contributed post is entitled, Making Money From Your Craft Skills.

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Image Credit Pixabay.com License CC0

If you have a creative skill that you do not make the best use out of, why not find a way of starting a small business that you can run in your spare time in order to make some money from your skills? There is no need to hide your talents when there are lots of opportunities to take these items out to a wide range of people who may be interested in buying them for gifts or for their own homes.

It has never been easier to make money off the creative skills that you possess, and not only will you hopefully find a nice extra source of revenue, but you will also enjoy the experience of creating and find that it makes you feel great.

Set Up A Stall In A Craft Fair Or Christmas Market

An excellent opportunity to sell your items would be to set up a stall in a craft fair or a Christmas market. There are plenty of openings for stalls in these types of events and it is worth doing some research online to find out what is available in your local area.

Once you have found a market that you can join, you will need to create a stall. Buy a hop-up display if you would like to create a more professional look. Use the signage to highlight your products and services as well as including your name and any brand that you would like to create associated with your crafts. Make sure it is eye catching and professionally designed.

Christmas markets have boomed in popularity in recent years and you will find that there are a lot of people who will be looking for gifts for their loved ones. This is a great opportunity for you to make some real sales. Start looking for a stall as early as possible as these events can be very popular.

Make sure that when you run your stall that you are focused on providing great customer service. Often, the thing that seals the deal when it comes to selling craft products is the service that you deliver. People like to know a bit about who made the item as it adds to the product that you have made.

Set Up An Etsy Store

Online marketplaces such as Etsy are a great place for you to sell your crafting goods. Stores are very easy to create and you can upload descriptions and photos of your products in order to attract customers in.

Getting your items onto your store is only half of the work though. You will need to market your Etsy store through the use of social media. This can be a lot of work and you will need to build up followings on major sites such as Instagram, Facebook, and Pinterest in order to attract some interest in your items.

Sales will take some time to rise on your Etsy store so have a long term strategy and keep working at it. The important aspect of doing this is that you enjoy the work that you are creating though, so ensure you retain that passion.

4 Ways To Improve The Security Of Your Business

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. No matter how novel and exciting your business idea is, you must secure it. You must optimize the security of your business on numerous fronts. The following contributed post is entitled, 4 Ways To Improve The Security Of Your Business.

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Regardless of the kind of business that you operate, you’ll want to keep all of your assets safe and sound. Whether it’s stock, technology, data, or money, there are several ways that you can enhance your security.

1 . Invest in CCTV

A good CCTV system is a must-have to keep your premises protected. CCTV cameras can function to deter criminals from targeting your property. As well as this, a CCTV monitoring system means that you’ll have evidence should a crime occur. The theft or damage of equipment or data will cost your business time and money both. CCTV can serve as a good damage control solution should the worst happen. Should extreme damages occur in the event of a break-in, it’s a good idea to call upon commercial restoration companies to provide help. Such companies can also assist in the event of high scale damages; from extreme weather to other structural disasters.

2 . Hire a security guard

To protect your business premises, a security guard can be a great call. Having a well-trained security professional will provide you with peace of mind that your building and employees are safe. A security guard will be able to monitor video surveillance around the building and ensure the correct access to the correct people. They can check ID and direct visitors as needed. Again, a security guard alone can be a great deterrent to potential thieves.

3. Cybersecurity

In the modern business world, cybersecurity is just as big an issue as physical security. It’s essential to put means in place to protect yourself online. When employees are accessing your network, ensure that you implement a multi-factor authentication system. Such a system involves several different checks to prove the identity of the employee. From biometric traits like fingerprints to codes sent via SMS; you can be sure that the right people have access. It can also be useful to hire an IT professional to perform a cybersecurity audit. An audit can identify and fix the weak points in your security system. When you implement new security solutions, ensure that you train your staff in terms of best practices. Using the internet to help your business can only be successful if you know how to stay safe online.

4. Install an alarm system

An effective alarm system is a great way to improve the security of your business. Such systems can alert the police quickly and efficiently should there be a break in. Regardless of an alarm system, it can be a good idea not to store all your valuables on-premises. Some businesses like to invest in storage solutions to have another place to keep valuable data or assets. Spreading your assets over multiple locations can be a good damage control solution.

Lastly, make sure that you backup your valuable documents and data and use the cloud as much as possible. If you’re concerned about cybersecurity, it can be beneficial to invest in a cybersecurity insurance policy. These policies can cover you in the event of a data breach, including any loss of revenue incurred as a result.

How To Make Money From Your Property

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Real estate is currently one of the most lucrative investment classes out there. There are numerous ways to make money by owning a property and the only limitation is the owner’s creativity. The following contributed post is entitled, How To Make Money From Your Property.

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Being able to make money from your property is something that many of us can likely do depending on a few factors. To make a bit of extra cash here and there can be very beneficial for our household savings, so here’s how to make money from your property.

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Start Growing And Selling Produce

If you’re a bit of a green thumb in the garden, then there might be a business in what you are successfully able to grow. In this world, where we’re trying to be more sustainable in order to help and support the environment, people will likely want to buy locally. This is because it’s more sustainable and kinder on the environment when you’re getting your fresh produce from a few doors down. First, you want to figure out exactly what you can sell and preferably, you want food and herbs that are going to be quick to grow and harvest. You may also have quite a bit of land to work with and so having somewhat of a farm might be a useful business to operate on the side of your full-time job. It’s important that if you start expanding beyond selling locally, then you may need to get clued up with some Agriculture lawyers who can give you advice on contracts, etc.

Rent Out A Room

You might have quite a big-sized property, so big in fact that you have too much to make use of. Renting out your space has now become very profitable after the creation of sites like Airbnb, which lets pretty much anyone put up a room or home as a holiday let. If you want though and have a freehold property, you could rent out a room. This can be done directly with yourself, or you might want to let a property agent sort it all out with no real effort needed from yourself. As long as you’re happy sharing or if it’s the whole property, coming to terms with it never being the same as how you had it, it’s worth doing. Some tenants might damage the property by accident, so there’s always that which needs thinking about in regard to the extra expenditures you might need to make further down the line.

Create A Side Hustle

A side hustle is something you do to make money on the side of your current job. And before long you can find yourself looking for further investments, checking out the best investment properties and even researching the best swiss bank account you can find. It’s an exciting prospect and worth thinking about. It might be from a hobby that you currently have and which you can transform into a money-making venture. Being able to create a side hustle is exciting because you end up having control over what you create or produce and you become a one-man band, doing everything that’s involved with running a business. Whether you’re selling handmade items on Etsy or running an online blog that works with brands, having something on the side can provide you with that little extra income that you or your household might need in emergencies. Side hustles can often also turn into full-time ventures if you work hard enough.

Sell It As An Event Space

Your home might be very functional in terms of a space to hold events. It could be unique enough to be the set of a film or television show. Or a place for fashion companies and brands to shoot their own content for business. So there are plenty of opportunities where your home can become an event space or an opportunity for a company to come in and use it to feature their services or products. As a homeowner, this can be a very interesting experience because you get to see your home being used in a different light while making money off others who require your space. There are plenty of people out there that might need your home for a day or two, so take advantage of what’s online so that you can benefit from using your home as a place for others to do business.

Making money from your property is one benefit that’s come from the modern-day world that we now live in. Now that we have access to so many more resources, we have the opportunity to be able to do more. We can create side hustles and businesses from the comfort of our home. We’re able to feature our homes as event spaces, filming opportunities and even to rent it out through online holiday accommodation sites. So if you need a little extra income, take a look at what your property might be able to offer you as an income.

Using the Internet to Help Your Business

Three of the focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. In today’s digital age, using the internet is critical if you’re running a business. It can help make your operations known not only in your immediate location, but around the world as well. The following contributed post is entitled, Using the Internet to Help Your Business.

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No matter the size of the business that you work for, whether you work from home, have a small business, or work for (or are in charge of) a large corporation, there won’t be one day that goes by that you don’t use the internet for your business. It is a vital part of the day-to-day running of your business, but it can also be used as a really important tool to help promote your business and to grow your business. In fact, there are so many ways that you can use the internet for your business, that it can seem quite endless, and as a result, it can be a little overwhelming.

So if you want to know how to use the internet in the best way for your business, then starting small and staying simple will help you to use the internet in the best way to make the business more efficient. One of the last things that you want is to make sure that everything is used daily so that it can pack the biggest marketing and promotional punch. Here are some of the ways that can make a difference.

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Set up a business page on multiple sites

If you have an established business with some loyal customers already, then it is important to encourage them to leave some positive reviews on various sites that you can register with. It helps to validate your business. Use sites like Google to list your business, as well as sites like Yelp and other local business finding sites, like how Interstate Dry Wall is listed on local business finder pages. These sites are great to help you to advertise your business, and it allows you to list things like your location and business phone number so it can help potential customers.

Take advantage of email marketing

If you are able to keep your current and past business clients and customers informed about what your business has been doing or latest information and deals, then it can really pay off. It can help to create a good relationship with customers and clients, and it means that it is more likely that they will use your business again in the future. You could send out a weekly email, or perhaps less often like a monthly email. You can also really personalize what you send out, so that it can be personal for a customer’s birthday or deals over certain holidays, and so on. You can also track who opens emails and who doesn’t, if you use a newsletter subscriber, so you can measure the success of them.

Use Social Media

Social media has risen and grown over the past decade or so, and there is no sign of it slowing down. So are you making the most of sites like Facebook, Instagram, YouTube, and Twitter, for example. It is important to make sure that you don’t use too many sites, as you won’t be able to manage all of them to a good standard. So think about your ideal customers and the sites that they would use, and then you can go from there.

Is Your Business Secure Enough Online?

Three of the focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. No matter what kind of business you’re operating, cyber-attacks can threaten business at any time if the appropriate measures are not taken. The following contributed post is entitled, Is Your Business Secure Enough Online.

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It might sound obvious, but it’s important to keep your business safe. Anyone who runs their own business knows how important security can be. But the truth is, the day-to-day running of a business can make it easy to forget that simple fact. Security is often something that takes place behind the scenes which can make it easy to neglect. Making sure that doesn’t happen is of particular importance these days because of one simple thing: the internet. It used to be that you only had to worry about the physical security of your business. But now there is so much business conducted online that it has opened up whole new areas of risk. Without the proper security online, your business can be in real danger. Luckily, just as new threats arise, new services appear to combat them. Here are some ways to keep your business safe online.

Set up a secure firewall

You wouldn’t leave the doors to your business unlocked at night, would you? Then why do the same with your online presence? Malware is software that is designed to infiltrate and attack computers and networks. This can do untold damage to your business, even going so far as to destroy it. That’s why it’s so important to get your security up to scratch. Set up firewalls beyond the one’s that come with your router. There are plenty of firewall services that will kelp you to keep up with malware’s increasing complexity.

Back it all up

Few business owners would imagine a situation worse than logging on to see that an enormous amount of vital information has disappeared. The idea of files and data simply vanishing is the stuff of nightmares to most businesses. That’s what makes it even more surprising just how often companies neglect to back up their valuable data. Making sure that you’re backing up your data means that if the worst should happen then, you can easily retrieve it. There are plenty of backup services available and which one you choose will come down to your business.

Filter out spam emails

If you’re running a business online then it’s likely that you’re going to sending and receiving a lot of emails. The last thing you want is for spam to be cluttering up your inbox making it that much harder to find what you’re looking for. Antispam software is an excellent way to clean up your emails and reduce risk and distractions for yourself and employees. Running emails through verification to ensure that senders are who they say they are is a crucial step in upping your email security. It’s also a good idea to reach out to companies that can help you stop spam emails. And it’s always important to encrypt your emails. Unencrypted emails is basically a buffet for hackers and cyber criminals

Whether you’re working on your own or as part of a team the first step to improving security is improving your own practices. Making sure that you’re staying safe online will make keeping your business secure that much easier. Avoid accessing potentially dangerous sites at work. Keep your passwords updated regularly. Don’t click any suspicious looking emails. These simple things really will go a long way to protecting you and your business. Plus, if you’re showing safe online behavior, your employees are that much more likely to follow suit.

5 Quick Things You Can Do To Make Your Business More Successful

The first principle of my blog is Financial Literacy/Money and Business/Entrepreneurship. As a business owner you should always be looking to improve. Your continual evolution will set you well above your competitors. The following contributed post is entitled, 5 Quick Things You Can Do To Make Your Business More Successful.

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If you want to make your business more successful, there are a few things you can do to make this happen. Below, you’ll find 5 quick things you can do to make your business more successful – take a look:

  1. Post More Content
    If you don’t currently post enough content, then it goes without saying that this is the first thing you should work on. Content marketing is extremely powerful, and you can create it in a number of ways. You could make videos, write blog posts, and even start a podcast. Add value and share your expertise.
  2. Start Conversations On Social Media
    Start and get involved in important conversations on social media. The more conversations you start, the more people will get involved. People will likely remember you, too!
  3. Run Competitions
    Run competitions and make sure the prizes are awesome. People love entering competitions online and you will likely increase your audience tenfold.
  4. Give Customers an Incentive To Come Back
    Make sure your customers have a good incentive to come back. You can do this by providing unbeatable customer service, but also by giving them a discount code or deal exclusively for them. Make them an offer that they can’t refuse.
  5. Give Away Branded Items
    Branded items are an ideal item to give your customers. Branded bags, for example, are something that will come in handy many times while also letting people know that your business exists. The infographic below can tell you more:


credit to BagzDepot

5 Questions to Ask When Building or Renovating Commercial Premises

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. One of the most important aspects of your business is its location and your commercial premises. There are a couple of key details you need to know about your commercial premises. The following contributed post is entitled, 5 Questions to Ask When Building or Renovating Commercial Premises.

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If business is going well and you’re turning a regular profit, the next logical step might be to move to a better premises. Whether you’re considering building from scratch or renovating an existing building, here are five questions to ask yourself.

How big will you build it?
A bigger office will be more expensive to buy, rent or build, so it doesn’t make sense to build an enormous structure if you don’t need to. However, one thing to bear in mind is that your business might grow over the years and so more space might be needed. To get around this, you could either build it more extensive than you need, or leave space to extend upwards or outwards in a few years if you need to.

What security measures will you add?
Offices are full of high-value equipment as well as cash and customer data which can be used in crime, making them targets for burglars. Since they’re usually empty after after office hours, it gives criminals plenty of chance to strike. So when you’re building or renovating your office, think about security. Have good quality windows and doors installed, as well as shutters or lockable window grilles if needed. Have CCTV and a burglar alarm fitted, as well as floodlights which can keep burglars at bay.

How will you keep it safe?
When you’re creating a building that people are going to be spending time and working in, it’s, of course, a legal requirement for it to be safe and usable. Make sure you’re following all guidelines on construction advice, use an experienced company and ensure everything is signed off at the end. You’ll need a fire protection consultant to ensure it meets fire safety standards; this includes things like the materials used, fire doors, windows, escape hatches and more.

How will you make it accessible?
Modern buildings need to be designed with accessibility in mind, during the planning stages consider how accessible it is for those in wheelchairs or limited mobility. You’ll need to think about things like disabled parking, ramps, lifts and more.

What location should you choose?
The area that a business is placed in can be the difference between success and failure for some companies. Shops or retail companies, for example, will rely heavily on foot traffic as a way to get customers. For this reason, you will need to be in a prime location for this. If you don’t rely on footfall to generate customers for your business, then you could build your office a little further out where you’ll get more for your money. However, location is still relevant as you will need to think about how easy it will be for your staff to get to. Look into things like transport links and road access.