New Trends in E-commerce After COVID-19

Reading Time: 3 mins

E-commerce, also known as electronic commerce or internet commerce, started on August 11, 1994, when a man sold a CD by the band Sting to his friend through an American retail platform i.e. NetMarket website. The Internet was already revolutionizing eCommerce and it was estimated to grow by billions. However, the pandemic has led to a rapid increase in this growth rate. During the pandemic, the unprecedented demands of online shopping and active users have taken the e-Commerce world by storm.

• Types of eCommerce Models
• The rise in online sales
• Rise in entrepreneurship
• Role of social media
• Competition
• Trends

 

Types of Ecommerce Models

There are four main types of eCommerce models explaining every online transaction taking place.

1. Business to Consumer (B2C):

When a business sells its goods or services to online buyers (for example, shopping done with online retailers.)

2. Business to Business (B2B):

When a business sells its items to other businesses. For instance, selling software to other companies.

3. Consumer to Consumer (C2C):

When a consumer ( can be an entrepreneur) sells a good or service to another consumer (e.g. Your friend is selling old electronics through OLXto another consumer).

4. Consumer to Business (C2B):

When consumer sells their products or services to a business or organization (e.g. Photographer licensing his photos to businesses).

 

The Rise in Online Sales

During the pandemic, there was a recorded 30 percent increase in sales over 2020. This hype in online sales driven by the unusual consumer demand has evolved eCommerce to a larger extent. Lockdown extended from weeks to months, leading to more active internet users, making online shopping and selling trendy and a necessity. Moreover, the freestyle credit account system, taking over the traditional role of credit card, also made online shopping easier and more possible for all – thereby, increasing the online purchasing trends in recent times.

 

Rise in Entrepreneurship

The rise in online shopping trends brought with it a rise in the scope of entrepreneurship. Ecommerce niches that used to have low traction, now attract more clients. People with lots of spare time in the lockdown spent their time building innovative ideas to revolutionize the business trends. Moreover, the internet-based application system and client-friendly approach of getting a personal loan attracted young entrepreneurs, enabling them to open their businesses on easier terms. The new market for hand sanitizers and their large advertisement on the subject of maintaining human health is the latest example of new business trends.

 

Role of Social Media Marketing

The business pages on Facebook and sponsored ads on Instagram are also playing a substantial role in the world of e-commerce. These social media platforms are not only easy to use but are accessible for all. According to research, almost 76% of Instagram users made an impulse buy on social media mostly because of its ease of purchase. Moreover, the continuously updating social media platforms have made the in-app purchase possible. The recent trends of hand-made garments and organic product business on these platforms explain the vital role of e-commerce. Branding, by involving celebrities to recommend the product to their followers, who have become more active during the pandemic, is another innovation in marketing. Moreover, Youtubers reviewing products and advertising them in their videos is another way of attracting the target audience, while enhancing the role of social media marketing in e-commerce.

 

Competition in Digital Marketing

The expanded scope of e-commerce, presenting a variety of niches, also signifies high competition in the field – thereby, calling for quality marketing and advertising content, which in turn brings in more investments. Digital marketing techniques like search engine optimization (SEO) or social media marketing (SMM) are used to make backlinks and direct more buyers directly towards the product’s website. Large retailers who didn’t pay attention to this either faced huge losses or went through a tough time. Therefore, more e-commerce scope brought with its competition and more innovation in the marketing world.

 

Ecommerce Trends Statistics

As soon as outdoor shopping stopped due to lockdown a threshold increase in eCommerce was seen. According to the statistics of the Salesforce Global Shopping Index, between 2019 to 2020 there was a 16 percent growth in digital traffic for retailers. Moreover, the growth in average spend per visit was also seen to increase by four percent.

Portable internet devices had already increased online shopping trends but in 2020, as the internet users started spending more time online, mobile e-commerce also jumped by 25 percent. In the United States, this mobile lead eCommerce growth chart showed an increase of 28 percent.

Analyzing the goods that drive most digital traffic it was found that the percentage spike in home goods sales was the highest i.e. 51 percent. Moreover, the growth of games and toys increased by 31 and 34 percent respectively. Additionally, the phenomenal growth of 20 percent was seen in personal care products and food.

 

Conclusion

Indeed, while COVID-19 had devastating effects on the economy, it has also introduced new ways of earning. It has revolutionized the world of eCommerce, allowing more people to invest and start their home-based businesses. Therefore, one can say that as 2021 advances, the role of eCommerce becomes increasingly influential, bringing with it new trends and cultures.

 

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8 exciting ways to make money as a dog lover

Reading Time: 5 mins

Meet Bodhi, the dog who makes $2,000+ per post for his owner!

Yena Kim loves pooches just like you and me. But instead of feeding and keeping Bodhi indoors, she thought of ways to make her furry friend a means of livelihood. And she found one.

Dress him in menswear, take some cute-looking photos, post on Instagram, and get the whole world talking. Not long after, brands started flocking in with deals.

The income from Bodhi’s endorsements and product campaigns got so huge that Kim decided to quit her job as a designer at Ralph Lauren to dress her dog in men’s clothing full time.

Can you imagine!

Bodhi legit transformed his owner’s life.

We bet you’re already thinking of ways to make that cute-looking Goldendoodle doodles sitting in your apartment bring in some income for you, too.

Don’t think too far.

Instead of just keeping that fluffy creature in the house to entertain your kids and make your home a fun place to be, use these tips below to earn some extra cash as a dog lover.

• Become a local dog trainer
• Become a service dog trainer
• Become a dog walker
• Launch an Instagram page
• Start a dog treats business
• Become a dog rights lawyer
• Dog photography
• Become a dog groomer

 

1. Become a local dog trainer

There are lots of dog owners out there looking for people to help them train their dogs. As you know, some pooches are just too stubborn to handle. As such, their owners sometimes look for help curbing and training their dogs.

If you know you have a way with dogs, and can tame a dog into doing whatever you instruct them, you may want to consider reaching out to dog owners in your immediate neighborhood to see if anyone of them needs help with their furry friend. You could work to train a Goldendoodle puppy, a German shepherd, a bull dog, a Great Dane, etc.

 

2. Become a service dog trainer

Beyond the average ‘sit’, ‘stay’, and ‘fetch’ commands, some owners desire to train their dogs for special needs. This is particularly true for owners with disability problems.

Fortunately, there are lots of dogs that can serve this purpose. For example, Goldendoodles are particularly renowned for their therapeutic abilities to help disabled people live better lives.

But before they can do that they need to be trained. And this is where a service trainer comes in.

As a service dog trainer, you’ll be expected to train dogs to serve special purposes.

If this sounds like something that interests you, it may be wise to take up online courses to hone your skills as a service dog trainer, and then applying to hospitals, disaster sites, assisted living facilities, local families, or physical therapy clinics to land a gig.

 

3. Become a dog walker

If you have a dog, it’s a must for you to walk him almost every day. Else, he might develop some bad health conditions.

For example, overweight is one of the health issues of dogs like Goldendoodles. And this condition arises from insufficient walking and exercises.

That said, instead of walking your dog for the fun of it; why not make some money on the side?

That is, pick up a few more furries along with you, and walk them all together.

As it is, some folks are just too busy to walk their dogs, but they understand the importance of dog walks. As such, they’re willing to pay others to do it for them. If you have the time, this might be a nice gig picking up.

Additionally, you’ll even be getting more cardio as you walk multiple dogs.

That said, you may find it challenging walking multiple large dogs, as they may be too hard to handle. A better practice would be to choose small dog breeds over big ones.

 

4. Launch an Instagram page for your dog or start a pet blog

If none of the ideas we’ve mentioned so far interests you, how about doing something similar to what Yena Kim did with Bodhi?

Of course, you won’t be dressing your dog in menswear like here. That’s already her signature, and doing that might land you the tag ‘copycat’.

Instead, you can come up with other photography ideas for your dog. You can take him on dates and record the events. You can go to parks and capture their exploits and then post. Or you can launch an Instagram reality show based on your furry’s exceptional habits or abilities and mind-blowing exploits.

Just think of something fascinating and attention-grabbing, and start posting on Instagram. With time, people will notice you, and you’ll start getting good endorsement deals.

 

5. Start a dog treats business

If you look around, you’ll notice that dog treats are fast becoming a big business.

And the reason is because lots of dog owners are now embracing the idea of training dogs with treats. This increase in demand means that anyone with the ability to come up with lovely and tasty dog treats ideas now has a huge money-making opportunity on their hands.

So, if you know you can bake sweet doggy biscuits, do not hesitate to hit vet clinics, dog groomers, and pet supply stores with your tasty bags of doggy biscuits.

To boost your chances of making sales, you can give out free samples with your business card attached. Don’t worry; in little to no time, people will know you, and will start making demands.

 

6. Become a dog rights lawyer

Dogs cannot speak for themselves. But they have rights too.

Why not be the voice that fights for these rights?

Of course, you’ll need to get a law degree to pursue a career in this field (no small ask!). If you’re truly empathetic towards dogs and have the intelligence to pass the bar exam though, this could be a great idea.

 

7. Dog photographer

Are you good with cameras? Do you find it easy getting dogs into right angles, and giving them nice shots?

If so, you may want to chase gigs in dog photography.

Now more than ever, lots of owners are looking for photographers to do candid shots for their pooches. They’re looking for skilled photographers to snap their furry friends on birthday celebration nights, adoption party evenings, and other memorable dog-related events.

 

8. Become a dog bather or groomer

If you spot a dog grooming shop somewhere, you probably won’t walk more than three blocks before you see another. Such is the extent to which dog grooming services are now in demand.

Almost every neighborhood and corner have a dog grooming shop nearby.

As a dog lover, it might be a good idea applying as a groomer to one of the nearby shops around you.

Of course, that would mean you don’t mind getting peed or pooped on.

Alternatively, if you have the funds and notice that there aren’t many dog grooming services around you, you might want to start your own.

Most dog owners are too busy to bathe or groom their dogs. Those who even have the time aren’t skilled enough to give their dogs the best bath and cuts. As such, these folks are willing to pay to get someone to do it for them.

 

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5 Ways to Increase Your Income By Using Your Assets

Reading Time: 3 mins

For many, Covid-19 has had a huge impact on livelihoods and incomes. With unemployment set to rise to 6.5% of all workers by the end of 2021, people are having to get creative and find new ways to earn that extra cash.

There are many ways you can utilise your skills and assets to unlock additional income and make money from the comfort of your own home.

Here we share with you some key platforms and ideas to help increase your bank balance:

• Offer your skills
• Get paid for your opinion
• Turn your hobby into cash
• Rent out your space
• Sell your goods

 

1. Earn money by offering your skills on Airtasker

The task economy has boomed during the pandemic, with Airtasker, the community marketplace that connects people who need work done with people who want to work, seeing a 30% increase in registrations across the board this year compared to 2020.

If you’re a roof tiler, mechanic or a market researcher, you may have some of the most sought-after skills in the UK; but that’s not all, Airtasker has also seen a significant rise in “tech tasks” on the platform as digital natives are turning their skills into a career lifeline and offering help with everything, from digital home fitness equipment installation advice, assisting with home tech services to even creating digital presentations and CVs.

 

2. Get paid for your opinion

During lockdown, people are spending more time browsing the web for an escape from reality;  why not turn your scrolling time into some extra cash by getting involved in market research and completing online surveys.

There are many free online survey sites, such as YouGov or Best Paid Surveys (to name a few), offering cash for your opinion across a variety of topics, where your input will help shape organisations across the world. Now, this may not be the answer to earning a substantial income, but it is an easy way to make more cash from the comfort of your home or on the go. Top tip: never pay to sign up to a survey site!

Find out more about online surveys here. 

 

3. Turn your lockdown hobby into cash!

Some of us spent our lockdown refining a hobby or even learning something new (or at least trying to). Our newfound love for the great outdoors has meant that many Brits have been rolling up their sleeves and tending to their gardens. Maybe your new gardening hobby could earn you some money from those who haven’t taken to the trowel so easily? Perhaps your needlework skills have come a long way and you could fix someone’s favourite lockdown sweater or design some custom-made cushion covers. If you have caught the creative bug and painted some works of art, or tried your hand at candle making, you could sell your creations on marketplaces such as Etsy and turn your hobby into money.

Find out more ways you can turn hobbies into cash. 

 

4. Unused space? Rent it out!

As we move into spring and ease out of the lockdown, the UK housing market is predicted to heat up. Why not turn your unused space into a money-making asset and rent out your garage to help those in house-move limbo. Stashbee offers easy listing and earning, not forgetting those all-important Covid-19 safety guidelines.

As people start to head back into the office and wish to avoid public transport, why not rent out your parking space to make an easy bit of cash! Sites like JustPark are a great source for renting out your driveway, where you can find out how much you could earn in seconds – just make sure to check with your home insurance provider that it doesn’t affect your policy.

 

5. Sell your unwanted goods – or get someone to do it for you!

Spring cleaning season is upon us and as we look forward to a summer of socialising (fingers crossed), you could make some money from those unwanted items that have been gathering dust. Why not revamp your wardrobe with some new styles bought with the cash made from selling your unwanted clothes on sites such as Vinted or Depop?

For those of you who don’t have the time to photograph and list all of your products, you could always call upon help from an eBay selling assistant on Airtasker, savvy on these selling platforms they know how to get the best bang for your buck. It really couldn’t be easier! Turn your unwanted items into extra cash, after all, one man’s trash is another man’s treasure.

The post 5 Ways to Increase Your Income By Using Your Assets appeared first on MoneyMagpie.

Sweet Deal: Get Paid to Eat Vegan Sweets

Reading Time: 2 mins

If indulging in gelatine-free nostalgia goodness is your favourite pastime, then prepare yourself as we’ve got the sweetest deal you’ve ever seen.

Pick & Mix London is on the lookout for 3 official vegan sweet tasters to rate the very best vegan pick & mix around. Do you have a sweet tooth? Looking to earn some extra cash? This may well be the perfect job for you.

Co-founder, George Edwards, commented, “Our vegan sweet category has seen a 350% growth in sales since last September and after noticing that searches for “vegan pick and mix” have increased by 185% in the last 12 months, we decided that it was important for us to put even more focus on the quality of our vegan offering.”

Pick & Mix London need your help to make sure they continue to deliver high-quality, tasty vegan sweets.

What’s on Offer?

Well, it’s not a full-time position, so we wouldn’t recommend quitting your day job. But if you can tell your fizzy cola bottles from your dummies, you’re probably on to a winner. If you’re passionate about being vegan and can dedicate the time to writing thoughtful and constructive reviews of their sweets then they want to hear from you!

How does it work?

If you’re selected as a official vegan sweet taster, Pick & Mix London will send you a free vegan pick & mix bundle worth £40, and give you an extra £50 in return for your review efforts. You can expect all sorts of sweets from love hearts to flying saucers, to bon bons. All delivered straight to your door! What’s not to like?

Is this the job for me?

Co-founder George Edwards has said he is after someone who has a passion for vegan treats. It also bodes well if the candidate loves a stay-in movie night or similar style evening. Pick & Mix London is keen to build upon the experience of vegan treats and would love tasters to give thought to this within their reviews.

How do I Apply?

Applications are open from now until 30th April! Apply directly on Pick & Mix London‘s website here. Simply complete an quick 8-question survey and let Pick & Mix London know what makes you the perfect sweet taster!

Due to a record-breaking half a million Brits signed up to Veganuary at the start of this year, a high number of applicants is anticipated. Only those who have made the interview stage will hear back from Pick & Mix London.

Apply now to become an official vegan sweet taster!

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How To Run A Successful Advertising Campaign For Your Ecommerce Site

Reading Time: 3 mins

You can’t really have a successful ecommerce site if you don’t do advertising, or if your advertising campaigns are not very good. Unfortunately, an ecommerce site is not like an ordinary website. You need lots of traffic to make a good ROI and it has to also be very targeted traffic.

This is why some people fail with their ecommerce site and think that the reason was something like market conditions or not having the right manufacturer among others. The reality is probably more likely that their advertising was not working properly.

So, how do you run a successful ad campaign that will bring you lots of customers and revenue? In this article, we will go over several things to keep in mind when starting your advertising.

• Analyze your data
• Target the right audience
• Make sure your landing page is on point
• Find an influencer

 

Analyze your data

If you have been advertising for at least a few months already, then you surely have some data that has been gleaned from the conversions and the traffic coming to your site. And this data is a goldmine even if your advertising metrics are not looking good at the moment.

If you have an e-commerce expert like Bing Digital that can access this data then you can paint a very detailed picture about what is going wrong. With this data, you can then find the right strategy that will work for you on the next campaign.

You could end up seeing that your keywords are too short tail and you need to have long tail keywords that bring in the right traffic. Or, it may simply point to the weak link in your funnel and show you that your landing page is not converting and the ads are not the issue.

 

Target the right audience

If your click through rate is very low then this can signal that you are targeting the wrong people. Your target audience will click through to your site if they are who you are actually looking for. They may not convert once there, but that is a different story.

You need to figure out who the most likely person is that will want what you are selling. If you haven’t started advertising yet then do some market research to find out if the person you think is interested in your product actually is. Once you have some information then you can create an ideal customer avatar and then market to them more effectively.

Once you have the right target then you will see your CTR go up and hopefully your conversions too.

 

Make sure your landing page is on point

It could be the case that your ads are working fine and doing a great job. Yet, your conversions are low and causing a low ROI on those ads. If your landing page is not optimized for conversions then it doesn’t matter how good your ads are. People will click and then leave your site.

Make sure that your landing page is easy to navigate, has a clear call to action and people know exactly what they will get by buying or signing up for an email. On the same token, your sales page should be easy to figure out as well. This way people can understand exactly what is on offer and why they should buy. Use succinct and clear language for your copy and your conversions will rise.

If you have multiple PPC campaigns running for different keywords then it helps to have a separate landing page for each. This will bring you much higher conversion rates and people will stay subscribed longer. Every keyword has a different user intent and they have different motivations for clicking. Having a landing page tailored to their expectations will ensure that they enter your funnel since they will feel that they are getting something helpful to their specific search query and not something generic.

 

Find an influencer

There is a reason that influencers are making so much money these days. It’s because their followers on social media and Youtube trust them and will follow their recommendations. In fact, these types of product endorsements are more effective than when using celebrities.

Celebrities are not seen as somebody who understands the needs of the regular person for who these products are for. Search for an influencer that would be a good fit for your product.

Luckily, there is somebody that commands a following in just about every topic imaginable now from beauty products to automotive tools. It’s simply a matter of finding the right person that you think would best represent your product.

You can set up a sponsored post in which you pay them to highlight your product on one of their posts or videos. Or, you can barter a free product for something in return.

 

The post How To Run A Successful Advertising Campaign For Your Ecommerce Site appeared first on MoneyMagpie.

Business closing due to Covid? 4 ways to make it less painful

Reading Time: 4 mins

If the worst has happened, and your business is facing closure after a year of Covid-19 shocks, it’s important to realize that you’re not alone.  Whole sectors, such as non-essential retail and hospitality faced an unprecedented loss of income in 2020. Many businesses don’t have the financial resilience needed for survival. However, that knowledge can be a small consolation when you have to face up to the reality of closing a business you’ve worked so hard to build.

No matter how hard it is to do, managing your exit efficiently is the first step to recovery and future success. You’ll have learned many lessons over this difficult period, so don’t underestimate how much you actually moved forward.

It’s never going to be easy to close a business you’ve invested so much time and money in, but there are few things you should consider to make it as painless as possible for everyone.

• Manage your financial exit
• Manage your employees
• Manage your customers
• Plan for the future

 

Manage your financial exit

The first thing to do is to consider how you’re going to manage your exit financially, especially if you’re already in debt. If you have some cash reserves, work with your accountant to prioritize how they need to be used. If you already know that you can’t cover your liabilities, there are several options open to you, but it’s best to take specialist advice to determine the most appropriate course of action. Companies such as The Insolvency Experts can help with liquidating your business, guiding you through the process, and helping you to recover in the shortest time possible.

Also, being as open and transparent as you can be with your family will protect them from the shock that a loss of financial stability and reduction in income can bring. It’s a mistake to try and shield them from the worst. When they do learn the reality of the situation, they could be further hurt that you didn’t trust them to support you. Of course, you’ll need to tailor the message in an age-appropriate way for your children, but you may be surprised at how well they adapt to whatever comes along.

 

Manage your employees

One of the most difficult aspects of business closure, for an owner, is the human element. You’re aware of the impact it will have on the lives of their employees and the knock-on effects for entire families. They too will have gone through a long period of uncertainty as they realized that closure was first, possible, then likely, and finally inevitable.

The key to helping everyone through this time is clear and honest communication. People who’ve been aware of the situation as it has developed will already be considering what might happen in the future. Depending on the sector you’re operating in, options could be limited for them.

As the owner of the business, you’ll have to lead from the front. Let them know as much as possible, as early as possible, so they can start to secure their future by seeking alternative employment or investigating the level of government support that’s available. Don’t make the mistake of saying nothing in the hope that somehow you’ll be able to turn the situation around.

At this stage, prioritize the well-being of your employees. Be conscious of the stress that everyone is going through.  Reports indicate that mental health issues have increased during the pandemic, so be aware of the signs, and be ready to support as necessary. Changes in behavior, withdrawal, or unexpected outbursts – these may all indicate that an individual is struggling to cope, so don’t blame them if they seem to have changed. Although you have enormous stresses to deal with, you also have a duty of care for your employees, so make it clear to them that you’ll do what you can to support them. Your goals should be to ensure that everyone emerges from this crisis as unscathed as possible and that the relationships you’ve built up, perhaps over years, remain unbroken.

 

Manage your customers

It’s also likely that, over time, you’ve developed strong relationships with customers and suppliers. So it’s not going to be easy to break the news your business isn’t going to be around to support them in the foreseeable future. However, your network of contacts is a valuable asset, and if you do decide to relaunch, they can be a great support in getting a new venture off the ground.

Bear in mind that most people understand the whirlwind which hit many businesses in 2020. All of them will likely have been affected in some way, and they’ll be able to empathize. One benefit of the tribulations of the past year is the increased sense of community we all feel. There’s a sense of ‘there but for the grace of God go I ‘.

So while it’s not clear what the future holds, if you’ve established a positive relationship with your stakeholders, your openness and concern for the impact your closure may have on them will be respected. It can also help to ensure they’ll be ready to do business with you again in the future.

 

Plan for the future

Everything changes. This difficult period won’t last forever. Be realistic about your options in the short term – how are you and your family going to survive financially?  What is the outlook for your sector in the short to medium term? How could you use your skills and experience to generate a sustainable level of income?

Equally important, though, is your emotional recovery from the experience of a business closure. It’s natural to go through a period of grieving for what you’ve lost. Be patient with yourself and give yourself time to let your emotions surface. It may take time to get yourself back on an even keel, but that’s essential before you can move forward.

Finally, don’t lose sight of the energy and drive that originally created your business.  That was your greatest asset, and it’s still yours to make the most of, so when you’re ready, plan how you can thrive and grow again over the coming months and years.

 

The post Business closing due to Covid? 4 ways to make it less painful appeared first on MoneyMagpie.

3 Ways to Prime Your Small Business for Growth Copy

Reading Time: 2 mins

The key to progress is preparation. If you want to run a marathon, you have to train for it. In the same way, if you want to build a successful business, you have to plan for growth right from the start. Otherwise, you could miss out on big opportunities to advance your company and establish yourself in an industry. The good news is that it’s possible to chart a course for your small company that accounts for growth potential right now. Here are three ways you can prime your small business for growth that you’ll want to keep in mind at all times:

 

Prioritize Education

Not only should business leaders seek to expand their own skill set and knowledge base, but they should also make it a priority to educate their staff as well. Training your employees will help them take on new tasks, grow into larger roles, and allow your company to transition into new markets seamlessly. On the other hand, the cost of not training employees is quite steep, and not doing so could prevent you from growing your company as you envision.

 

Create a Strong Digital Foundation

Digital marketing and advertising efforts can take a long time to produce meaningful returns. As such, forward-thinking business leaders would do well to develop a strong digital foundation for their small business ASAP. Improving your site’s SEO, launching features like an online shop, and reaching out to new leads on social media are all tactics that can produce serious results down the line –– even if you don’t see big changes at first. By doing this work now, though, you’ll position your business to expand in the long run.

 

Retain a Customer Base

Yes, customer acquisition is obviously necessary to grow a business. However, without a strong ability to retain a current customer base, no business will be able to scale up in a sustainable fashion. It simply costs too much to replace reliable consumers on a consistent basis. So small businesses must go above and beyond to deliver positive outcomes for their most loyal customers. (Which is why customer service and product implementation are so vital.) These consumers won’t just keep your business going, they can also actively bolster it by writing positive reviews and sharing your message with others.

 

Conclusion

Business growth requires hard work, patience, and –– of course –– a little bit of luck. Thankfully, if you focus on the areas outlined above, you’ll have everything in place when it’s time to scale up your business.

The post 3 Ways to Prime Your Small Business for Growth Copy appeared first on MoneyMagpie.

How to get the best price for an old iPhone 7

Reading Time: 3 mins

The mobile phone market is consistently a bustling one. There are new models from different brands getting delivered. If you currently have an old iPhone 7 and fancy a new phone for yourself, you can sell your old handset first. It will help you with getting cash that you can use to meet expenses for the new handset. Here’s what you need to know about getting the best price for iPhone 7.

• Resale value of an old iPhone 7
• What about a broken iPhone 7 
• What about a network-locked iPhone 7
• Useful tips for selling
• Where to sell

 

Resale value of an old iPhone 7

The value is dependent on the current market rate and demand for the old iPhone 7. The rates for a used iPhone 7 in various conditions are accessible online. The resale value will be highest for generally new handsets. Good condition sets with a box, receipt, and accessories get the best resale value from buyers. The latest models will reliably have a better resale price when compared with older models with wear and tear.

 

What about a broken iPhone 7

Indeed, you can sell a messed-up iPhone 7 (many of us have been there!). Whether or not they have broken screens, display issues, or other damages, you can still sell them. Damages can likewise be a faulty camera, speaker, or defective display. In any case, a broken iPhone 7 will get you a lesser amount than a working one, as you’d expect. Rather than throwing it away, which may hurt the environment, it’s wise to sell it and bring in some cash. You can likewise sell an old iPhone 7 with water damage if it works appropriately. Obviously, it won’t get you the best price but you can still sell it instead of keeping it inactive or throwing it.

 

What about a network-locked iPhone 7

It’s possible to sell network-tied phones, but you will get paid less for them. It moreover relies upon the network it’s related to. When you get the bundling for your old iPhone, attest that your handset is network-attached to a particular transporter. Unlocking your gadget will usually get you a better price, and it isn’t hard to sort it out. You need to request your transporter, and it may take a couple of days for the work to get finished. You can use another SIM card until then. On the off chance that you don’t have one, you could back up the information on your handset, delete the settings, and restore it later.

 

Useful tips for selling an old iPhone 7

Here are some tips that you should recall when selling old mobile phones.

• Sell it at the earliest!

The more you hold back, the less you’ll get for your old handset. Prices can drop when another model is launched. Everyone wants to sell their old handsets so they can opt for the most recent one. Prices will regularly drop for any mobile phone, independent of the model and brand.

• Research for the best price

Look at all your options to sort out the best offer on hand. You may discover a trade-in price works for you, or maybe you’re willing to take less cash so you can sell it immediately. Regardless, if you don’t research all the options, you’ll not know whether you’re getting a sensible resale value.

• Factory reset

Keep yourself safe with the assistance of the factory reset option, which will erase all your data. Backup all the data first – you don’t want to lose any of your personal information.

 

Where to sell your old iPhone 7

You can consider mobile purchasing and recycling companies, there are a lot of them about these days. They deal in several models of old mobile phones and will offer you a price for them. You can browse through their websites to get a free quote for your old gadget. Ensure you fill in all details to get an accurate offer. When you are happy with the price, many will send you packaging to put the phone in. Upon receiving your old handset, they make the payment. The better sites will usually pay you within a few days of receiving your device.

Remember, it’s a good idea to take a picture of your phone before sending so you can prove its original condition, and send the phone via tracked delivery so you know it has been received. 

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5 Great HR Software Tools to Improve Productivity

Reading Time: 4 mins

Over the past twelve months, many businesses have been presented with the opportunity to take an in-depth look at the way they work.  There are processes we take for granted because we’ve always done things that way – but maybe they’re not working so well in the new business environment. Would the new business models adopted by disrupters, which turn everything we regard as essential, upside down – be right for us, or are they a passing fad?

Nowhere have these questions seemed more relevant than in the HR space. Maybe you’re looking for ways to increase the efficiency of your routine admin and record-keeping, to communicate more effectively with your employees or to streamline your performance management processes so they’re more closely aligned with the company’s business goals. There are some great tools on the market, and in this article, we’ll highlight 5 key ways they can help improve productivity.

• Automate your record-keeping
• Track timing
• Monitor engagement
• Manage performance
• Communicate more effectively

 

Automate your record-keeping

Much of the core work of the HR department has traditionally been seen as having a pure admin and record-keeping function. While this is to some extent true, over the past few years many businesses have made the transition to a far more interactive, user-friendly, and transparent approach using one of the many cloud-based software solutions.  Bamboo HR is one of the best known. Targetting small and medium businesses, these products cover the entire employee life-cycle, from recruiting and onboarding, to compensation and performance management. Customizable reports give powerful data to inform management decision-making, potentially transforming the way HR contributes to overall business performance. Other user-friendly products worth having a look at are Cezanne, Zoho, and EffortlessHR.  While each has different areas of focus, they can all take the pain out of your employee record-keeping.

 

Track timing

When you’re managing the payroll for a project team, tracking hours worked, billing accurately, and planning time off, can all end up consuming too much time.  Employee time-tracking software, such as ClickTime, reduces paperwork, improves accuracy, and assists in forecasting project costs.  You may have transitioned to remote working, either due to Covid, or to reduce costs. While this can have great benefits for work/life balance, and even improve output, employees need to be able to switch tracking on and off as they work and to make vacation requests. At the same time, you need to monitor the overall productivity of your team.  By choosing a product with a mobile option, all time-related requests can be approved wherever the users may be, without creating mountains of paperwork or an endless email trail.

 

Monitor Engagement

How does your company monitor employee engagement at present? By pushing employees to complete an annual survey? Then after months of collating and analyzing, the results are finally announced, and action plans are drawn up. How much of an impact does this kind of worthy exercise actually make? Yet leaders understand that highly-engaged employees are critical to the success of virtually every business.

The solution can be to invest in an online tool that collects employee feedback, in real-time, throughout the year. By collecting open employee feedback on a continuing basis, you’ll understand how your employees are feeling: content, energized, burnt-out, or cynical. And once people get used to the idea of giving anonymous feedback in real-time, you’ll be able to spot ‘mood trends’, get to the heart of any problems, and respond appropriately.

One of the ones we’ve seen is TINYpulse, which can be integrated with MS Teams, Gmail, BambooHR, Outlook, and also offers a validated recognition tool. Their Cheers for Peers option allows people to send “cheers” to each other when they want to recognize good performance, and tracks how many cheers are sent and received per employee.

Other tools to increase employee engagement include Officevibe (weekly surveys); Waggl (short, frequent surveys); Peakon (micro-learning sessions, attrition prediction).

 

Manage Performance

Cascading business goals to each level is an annual ritual in many companies. Then come the one-to-ones, the follow-ups, quarterly reviews, until the moment of truth – the annual performance appraisal. The risk with all this, apart from the fact that it’s so time-consuming, is that the evaluation happens retrospectively.  Wouldn’t it be more effective to have real-time data on progress, so any issues could be addressed before they have a negative impact on results?  While several of the products already mentioned incorporate a performance management module, specialized products such as Trakstar can assist with every stage of the cycle, from goal-setting and progress dashboards to performance review templates, 360-degree feedback, and even succession planning tools.

 

Communicate more effectively

Are you still using an intranet, such as that old standby Sharepoint, to communicate with your employees? Nothing wrong with that, except that it’s time-consuming to update, and not very engaging for people who are far more used to checking in with their social media several times a day (often, several times per hour!).

Is there a tool that can be used for sharing announcements and updates, without the hassle? Is there one that encourages real-time feedback and sharing?  Platforms such as Confluence, Igloo, and Huddle make communication, whether across an entire company or within teams, quick and easy. Social features give employees at all levels the opportunity to share ideas, contribute to their team’s goals, and receive open feedback. Nuxeo and Jostle.me are just two options which allow any type of file, including pictures and videos, to be stored and openly shared.

All these products allow you to create a knowledge hub, making resources and answers easy to find. Imagine how much time you could free up in HR with a one-stop-shop for all the documents managers and employees could need.

 

Summary

The business challenges of 2020 have provided us all with the opportunity to re-think the way we do things. These new-generation software tools provide the means to give HR a new way of engaging with our people and transforming the way the function is viewed by the organization. Let your team focus on partnering with the business to improve productivity, and impress your employees with the way you support and engage with them.

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Upskilling: The Key to Earning More?

Reading Time: 4 mins

The idea that your education should stop once you graduate and enter the job market is outdated. We’re living in a world where things move quickly. New industries are emerging, and old industries go through significant changes to adapt to a digital environment.

Wage growth has been slow and uneven over the past 40 years, and upskilling or reskilling could be the best way to keep up with a job market that is rapidly changing while increasing your earning potential.

• What is upskilling?
• Right skills
• New way to learn
• Job satisfaction
• Barriers

 

What Is Upskilling?

Upskilling describes acquiring new skills. In most cases, employees seek to acquire new skills to gain an advantage in their field and get access to higher-paying jobs. They can also build on existing skills to improve productivity and performance in their existing job.

Reskilling is different. You can think of it as a form of professional reconversion. You might need to acquire a new set of skills to find work in a different field if your industry doesn’t have a good outlook for the future.

 

Targeting the Right Skills

Upskilling is an investment in your future. Just like with any other investment, you need to consider the cost and potential return.

Some skills are going to be more valuable than others. You can identify these skills by talking with your employer, manager, or HR representative. Ask about the top skills they look for when interviewing candidates and ask about the skills that are the most difficult to find.

Industry experts are another interesting resource. You can learn about the trends shaping your industry through interviews, podcasts, trade publications, conferences, and virtual events. For instance, analytics is a discipline that is transforming the business world, and a growing number of businesses are looking for employees who know how to work with data.

Professional certifications can be another way of increasing your earning potential. Depending on your industry, a certification can give you access to a job with more responsibilities and higher pay.

You should also consider the skills you already have. Becoming an expert in an area you’re already familiar with can be easier than learning a new skill from scratch. If you plan on staying with the same employer, consider existing skills gaps in your current team and how you could close these gaps through education.

Be mindful of the source you decide to use to acquire new skills. You can increase your earning potential by choosing a source that employers will recognize, like a professional organization or an accredited school.

 

A New Way to Learn

On average, workers will have 12 jobs over the course of their lifetime. Todays’ job market is extremely flexible, and job seekers will work for several employers over the years and possibly change careers.

Upskilling isn’t a one-time thing. You should approach learning and professional development as an ongoing process.

Going back to school to earn a degree is one of the first things that comes to mind when thinking about adult learning, but you should know that there are other types of learning experience that can be valuable in the workplace.

Understanding to recognize different opportunities for learning will help you keep acquiring new skills over the years. You can, for instance, complete a single course online to earn a certification, take part in a training program offered by your employer, or learn through a job shadowing experience.

 

Job Satisfaction and Personal Goals

Acquiring new skills requires a commitment of your time and resources. It’s important to pick a project that supports your personal and professional goals. You should also consider how upskilling will improve your job satisfaction. Ask yourself which skills you should focus on to obtain your dream job.

Skills that can give you access to a job with better pay and benefits can have a direct impact on your wellbeing and job satisfaction. You should also consider job security since it’s a factor that can reduce work-related stress.

A job that aligns with your personal values is worth pursuing. Think about the skills that would give you access to a job where you could make a difference by working with the community or shaping a positive company culture. For instance, going after a management position would give you an opportunity to help others.

You should also consider long-term opportunities for career advancement. Upskilling to become a manager could eventually lead to opportunities for working as an executive if you keep acquiring new skills.

 

Potential Barriers and How to Address Them

Even though 94% of employees say they would stay with an employer longer if they had access to training opportunities, learning isn’t a priority for a lot of businesses.

If your employer doesn’t offer a training program, you should talk to your manager or HR representative about your project. Your employer might be able to cover some of your training expenses or adopt a more flexible schedule to give you time to study.

In some cases, company culture can be an obstacle to continuous learning. If you find yourself in this situation, you should think about seeking employment somewhere else.

Money can be an obstacle. If your employer sees your upskilling as valuable, they might be willing to cover a part of the cost. You should also consider using savings or borrowing money if you’re confident that upskilling will help you earn more in the future.

Time is another potential barrier. Studying and acquiring new skills can be time-consuming, and you already have other roles to juggle. A lot of schools and trade organizations understand this limitation and offer flexible programs.

You can find programs that use bite-sized lessons so that you can learn new skills through a series of short sessions. There are flexible delivery methods like studying online. For instance, the University of New South Wales Sydney offers a Master of Management that you can complete online on a flexible schedule.

 

Final Thoughts

Upskilling could be the key to earning more and gaining access to a job that is more rewarding if you feel that you’re stuck in your current job. Talk to your employer about training opportunities, and identify the skills that would be valuable for your professional goals.

The post Upskilling: The Key to Earning More? appeared first on MoneyMagpie.

Low-Effort Tips For Keeping Your Employees Happy

Reading Time: 4 mins

Long gone are the days when happiness was not an important element of a job. Times have changed. Employers now know that happy employees are productive employees.

Statistics have shown that happy employees stay longer in their jobs, are more productive, and are open to taking up a new challenge with enthusiasm. This is proven to be the ultimate mix for every business as, employee retention, productivity, and motivation are the perfect recipe for a healthy and prospering business.

So the question remains, how to make employees happy?

‘Money can’t buy happiness’ is well known to us. For employers, raising paycheck after paycheck is not the only motivator. A quick fun fact – research has shown that money doesn’t count as a top factor for happy employees. Let’s take a look at low-effort ways you can make your team happy.

Here are 8 ways to keep your team happy without breaking the bank.

• Say ‘Thank You’
• Be kind
• Team building
• Company goals
• Support
• Give them breaks
• Positive environment 
• Be consistent

 

1.Start by saying ‘Thank You’

A positive work environment encourages teamwork and communication. Employees rarely get discouraged by money and are more prone to leaving if they feel they are not appreciated. Encouragement and appreciation at work are stimulating the workflow and results are fantastic. Finding simple ways of saying thank you can go a long way in employee happiness. Recognition provides a sense of comfort and confidence.

 

2.Be Kind To Your Employees

This costs no money at all and can go a long way in winning the loyalty of your employee. Being kind involves not forcing your employee to take more work than they are ready for. Rather it is better to offer a project and let employees step up and offer their solutions. Also, micromanaging can drive employees insane. Learn to instill more trust and both sides can have a winning situation. Allow them to work out a solution by themselves and present it to you. Of course, if they need help employers can always offer their expertise rather than belittling them.

 

3. Social Gathering and Team Building Activities

Social gatherings provide a great opportunity for staff to bond with each other in a more casual and comfortable environment. Celebrating business milestones and even personal staff birthdays is a great chance to add a fun element to jobs, great team-building activities can take place in the office, or they can be organized at inspiring locations. The fun competition raises spirits and enhances team bonding.

 

4.Make Them A Part Of Company Goals

Keeping employees informed is an important factor to build communication and trust. Discussing the future goals of the company with them makes them feel more involved and valued. The sense of belonging will help them to work better as they will find it a team effort to achieve company goals. At the same time, it’s important to keep in mind that the company goals that are set are realistic and achievable. Unrealistic goals will frustrate and overwhelm employees making them feel less valuable and more prone to quitting.

 

5.Support All Forms Of Employee Development

Be it continuous education or technological advancements, it’s vital that the employees are developed so they can keep up with the trends and improve productivity. New methods should be introduced with proper training for all employees. Group learning ensures the whole team understands the challenges and can decide together the best solution that works for all.

 

6.Give Them Consistent Breaks

Encourage your staff to take breaks after consistent intervals so they can relax and refresh. It helps them become more productive and come back with a relaxed and focused mind. Sometimes readjusting the schedule to support a more relaxing shift too can help cheer things up at the workplace. Flexibility is important to keep a good flow at the workplace and especially out of work. Allowing employees to go early once in a while for a personal matter shows how employers respect their life outside of work too.

 

7. Positive Work Environment

Dark offices with no windows to let sunlight in can make everyone feel moody. A pleasant work environment positively motivates the employees. Lights too can be added and adjusted to make the workplace more lively. Adding plants, a comfortable seating area, and clean bathrooms are some basic things that can add to the overall work experience of an employee and make them feel more focused.

8. Be Consistent And Patient

A good workforce that stands by employers in times thick and thin is not an easy task. Allowing employees to make mistakes and helping them rectify them gives them the freedom to try new ways to improve work methods. It takes time and effort to make them trust you and give their loyalty to prosper together. To make sure this is consistent, one has to make sure that the employers take the place of a leader. Good and bad records can be discussed with employees in person regularly so they can grow. Favoritism is not a good character trait of any leader.

 

Happy Employees Create A Prosperous Business

No one likes to wake up dreading what each day at work will be like. Organizations need to find and keep employees who enjoy their job. It then also becomes important for employers to ensure they stay happy. Unhappy employees don’t only bring down the morale of the whole team but can cost your business if they were to sabotage it. Remember the movie ‘Office Space’?

So as employers move ahead with time, it’s important to keep in mind how they can make their employees happy daily. In the long term, this will bring nothing but a positive impact. Also on a more human level, making someone happy is the most rewarding thing. As an employer, you not only will benefit from better productivity from employees but also make a better place in the world for them!

 

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5 realistic ways to make money online in 2021

Reading Time: 3 mins

The upheavals of 2020 made many of us consider how we can generate extra income in this climate of uncertainty.  Having a sideline to bring in extra cash can not only make us feel more secure financially but can also provide a fun and creative outlet for our skills.

Here are four simple ways to make money online. It’s easy to get started, so what’s stopping you?

• Sell your stuff
• Sell your skills
• Sell a product
• Teach online
• Launch a blog

 

Sell your stuff

The first question to ask is how much money do you have tied up in stuff that you no longer want or need? Take a good look around your house and consider which items you could sell online to bring in some useful cash.  Select things in good condition, so they’ll sell more easily, and take the best photos you can. Next list them on one of the many popular sites: Facebook Marketplace, Gumtree, eBay, etc.  Be clear about your payment terms – set up a Paypal account if you don’t already have one. For bulkier or heavier items, also consider how you’re going to handle deliveries and who’s going to pay.

 

Sell your skills

Are you a talented writer, designer, or IT specialist? Why not monetise your skills with some online freelance gigs?

Sites such as Upwork, Freelancer, and Fivver have clients all over the world looking for people who can help them with specific projects. Bid for the work you’re interested in, agree on price and deadlines, then enjoy the satisfaction of being paid for doing what you love. Working through these platforms ensures that you’ll receive payment on completion of the job.

If you’re a designer all you’ll need to do is find an office printer so you can see what your designs look like on the page, and if you’re a writer the only thing you’ll need is Google for your research and an online thesaurus to ensure you impress your readers.

 

Sell a product

Are you a natural salesperson? Consider buying a product in bulk, to resell online. This works best if it’s something you have in-depth knowledge of and you can vouch for the quality. Before you start, do your research and ensure what you’re choosing is in a niche that’s trending. Launch yourself as an Amazon reseller, or start small with Facebook and other social media promotions.

 

Teach online

If you’re an expert in a particular field and know how to teach or coach others, why not create content and launch your online courses. Whether it’s yoga, a dance style, or a second language, you can build an audience providing your videos are engaging and people can learn from them.

Begin with free videos on Youtube, then invite your followers to join paid webinars or purchase your online courses.  Of course, this does need an investment of your time (and some cash to create high-quality videos), but when you think about it, once you have the content, people can continue to purchase indefinitely, so the rewards can be great. You’ll be sharing your knowledge and bringing in money even while you’re asleep!

 

Launch a blog

When we read about online influencers who make fortunes by blogging, it’s natural to ask how they do it. Blogging is having a significant influence on the brands we choose to buy, and companies spend increasing amounts of their marketing budget on placing their brands on the right blogs. The most popular bloggers can make a good living just via their online content, so how can you monetize your hobby or area of expertise?

Setting up a website is easy and inexpensive, especially if you use a website builder such as Wix or Weebly. The key is to ensure you create engaging content that attracts and grows an army of loyal followers, and keeps them returning to your site. Without visitors, you’re not going to earn the revenue you want, so choose a niche that isn’t already overcrowded.

Next, how to get paid? The first way is by placing external adverts on your site. Check out Google AdSense and similar programs which facilitate this by positioning ads on your blog.

If you opt for a pay-per-click model you’ll be paid a small amount each time someone clicks on the advert on your page.  Alternatively, pre-set a cost per 1000 impressions (CPM) and get paid each time 1000 people just see the ad- regardless of whether they click on it or not.

Bloggers also make money via affiliate links to particular brands they work with. A hyperlink to their product is supplied, which you embed into your content. When a reader clicks that link and buys the brand’s product (within 30 days, and providing they don’t delete their cookies), you will be paid a percentage of their total spend.

So, if you have a passion or hobby, and time on your hands to create attractive content, blogging can become a lucrative and enjoyable way to create additional income.

Find out more about making money blogging here. 

 

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Marketing for Small Businesses – On a Shoestring Budget

Reading Time: 4 mins

Everyone knows that digital marketing is a vast channel and a direct and effective way to reach your business’s target audience. however, unlike corporations and tech giants, most small local businesses only have small marketing budgets. They have traditionally relied on word of mouth.

While word of mouth is still effective, to take your business to the next level, it can often be necessary to embrace marketing’s digital age.

This article will outline how you can use digital marketing to drive highly engaged traffic to your business’s website, social media accounts and how to get people to call your business.

• Linkedin
• Gary Vee’s technique
• Build your personal brand
• Go old school
• Sign up to GoogleMyBusiness

 

Linkedin

Right now, Linkedin is often considered the best social media platform when it comes to “organic reach” – visibility of your posts and updates, without having to pay for adverts.

Linkedin is trying to increase its market share and therefore wants to attract more people to use the platform as often as possible. Thanks to this push for market share, you can use Linkedin as a highly effective marketing tool without spending any money.

You can leverage the organic power of Linkedin by using both a personal profile and a business profile. Setup both and make relevant, informative, and entertaining posts that will interest your target audience.

In general, posting links does not work well on any social media platform. Facebook, Linkedin, and Twitter know that to make money, they need to keep users on their websites and apps. Therefore, a link that could take someone away from their platform is going to get limited visibility.

Instead of posting links to your blog content, reformat content instead. Upload videos to Linkedin directly and reformat them too. Turn them into 30-second clips, GIFs, quotes, and memes. These will all tend to perform better in terms of engagement than links to external websites.

 

Gary Vee’s $1.80 Technique

This technique works on most social media platforms. On Instagram, go to the explorer (search bar), search for your city, select places, add a relevant comment to the people tagged in your area.

The example Gary uses in this video on YouTube is that when someone posted a picture of them mowing the lawn in the local area to his liquor store, he’d add a comment along the lines of “great lawn, you want a beer after this!?”

Gary recommends using this technique on 90 posts per day to “massively build up your audience.”

Gary also says that this technique can work on Linkedin as well. You don’t necessarily have to search by location, search by topic, and leave a meaningful, well-thought comment each time.

While this doesn’t cost anything, it is very time-consuming. However, you could try it for two weeks and then review its effectiveness. Make a note of your followers, connections, and the average level of engagement with a post on a given social media platform, and then measure this again two weeks later.

 

Build Your Personal Brand

While technically speaking, not digital in many respects, talking at events and conferences can be a great way to build your personal brand and business.

For example, if you’re a personal trainer, there are many avenues and lots of interest in wellness and nutrition. You could start with doing a talk or seminar at a small event and then build a reputation for speaking and presenting from there.

Another way to build your personal brand would be to create presentations and make them into videos you upload to YouTube. These videos can also be uploaded to the Facebook and Linkedin platforms. Using a tool such as QuickTime to record your screen, you can make videos by talking through a PowerPoint presentation on a specific topic.

Using PowerPoint is an excellent option if you don’t have an office and a whiteboard to film yourself with while doing your presentation. Upload your PowerPoint to Slideshare and add some links back to your website in the notes or the slides themselves.

 

Go Old school

Using print media can work well if you are looking for local customers. If you want to stand out from the competition, consider using printed materials to stand out from the crowd.

For example, if you’re looking to start up your graphic design agency, you may consider making some flyers or business cards and taking them around a local business park or industrial estate. If you want to take this a step further, you could use a “Trojan Horse” style technique. You could create a design for a paper bag or some packaging, and inside that packaging, add a small gift. Inside the gift, add a note saying something along the lines of “if you like the packaging – please consider hiring my agency (insert name) the next time you need a graphic designer.”

You can tailor each gift by researching what a business owner in a particular niche may want. Maybe it’s a voucher for Google Ads, a calendar of important days & events to help plan social media campaigns, some coffee, or a herbal tea! Maybe you could add a note with the herbal tea – “relax & let us take care of your graphic design needs.”

Many entrepreneurs like to speak on the phone or person to person. With this in mind, you should add your website and email addresses to any marketing materials. Adding your phone number is also a good idea. If you don’t have a receptionist consider using a phone answering service – such as Moneypenny or Yourcallnz. Marketing materials should also feature trust-signals and social proof such as review scores from Trustpilot and any relevant certifications or awards.

Using print materials and gifts can get relatively expensive. However, it can certainly help to get you noticed if you have specific businesses in mind. Conversely, if you are looking for a blanket marketing campaign to reach thousands of people, this strategy may not work!

 

Sign Up to GoogleMyBusiness

It is usually a good idea to sign up to GoogleMyBusiness and create a business page that will show on Google Maps.
At the time of writing, Google usually gives out a $50 voucher once you have registered your business with them. This gives you an excellent opportunity to try out Google Ads without spending any money. Ensure that you watch a YouTube video or two and read some articles about optimizing Google Ads campaigns before you start. You can waste that $50 in no time otherwise!

 

Conclusion

While marketing with a small budget is possible, it generally requires more time and effort. For example, creating great content for your blog and YouTube channel, repurposing it for social media, and promoting it on Reddit forums with the necessary subtlety is not easy. However, it is possible if you have the work ethic – almost anything is possible, especially online!

 

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Ways You Can Save A Struggling Business

Reading Time: 4 mins

For many business owners, phases of uncertainty and troubles will arise.

The responsibility of owning your own business and maintaining success can have its ups and downs, leading to times where your financial situation can reach a critical point and further challenges arise.

This situation is something no business owner should have to face, but analysing your businesse’s financial situation is critical to help get back on track. However, within this process you will have to proceed with tougher decisions and actions, but this is something you shouldn’t hesitate about. Analysing the problems quickly enough can help reduce the struggle.

• Prioritise
• Analyse who you are paying & when
• Cutting or minimising
• Don’t leave your creditors out
• Don’t overlook organisation

 

Prioritise

When analysing your business costs, you need to take into account each and every outgoing you have. From this, you will then be able to see a trend in costs that may not be as necessary as you originally thought.

Look at areas such as simple expenses and any other outgoings that may be currently not as important compared to others, or could be held until you reach financial stability again. For example, due to the current climate with the COVID-19 pandemic, many business owners and employees have adapted to working from home, which means your business premises are being left unattended. This could lead to questions, such as –

• Is this something I could negotiate with the Landlord to reduce or stop payments?
• Does remote working benefit my business?
• Could I adapt to a smaller working premises and reduce my overall rent related costs?
• Could I focus more online?

Contributing factors such as the four above can help you shift your mindset to focus on what will work best for your business in the future and what quick changes you can make immediately to help you during the present.

 

Analyse Who You Are Paying & When

Again, focusing on the prioritisation of your outgoings. You should analyse the importance of your individual payments.

If you find yourself owing an amount of money that is currently above the amount you currently hold, then you need to see which payments become mandatory.

When looking at the order of importance, you need to firstly look at any obligated payments that are capable of shutting down your business if left unattended, as these are the primary threat to your business.

From this, you need to analyse each aspect. For example if you fail to pay an employee, they may decide to find another employer who is able to pay them, resulting in the halt of production and your business not running properly. This should help you see your employees are the top priority in this situation.

Another crucially important area you need to focus on alongside the importance of your employees, is how crucial each of these payments are. For example, if you do not provide a tax payment on time, this could lead to fines.

 

Cutting Or Minimising

When focusing on the cutting/minimising phase on your costs, the first thing you need to do is remove any discretionary expenses you may have. Then, you need to analyse all of your ‘non-person’ related outgoings, for example, you and your employees may still require to travel due to your working circumstances, but could this be something that is adapted to reduce costs?

If you find you have already touched on these decreased outgoings due to your new remote working lifestyle, then an unfortunate consideration could be either reducing the hours or compensation of certain employees, or laying them off altogether. This is something that will be difficult for any business owner, but the realisation that your business would work the exact same with fewer employees could be the main contributing factor to guaranteeing the future success of your company

 

Don’t Leave Your Creditors Out

As a business owner, you may have the temptation to ignore the situation and hide yourself when the topic of owing money arises. But this is one of the biggest mistakes you could make.

Many finance professionals will still be interested in helping you, if they believe you will settle in the end.

For example, if you find yourself owing money back to a bank and you know this isn’t achievable, then still make sure you are in contact with your banker about the realistic situation. Your banker’s main focus is to receive the money they’re owed back, so if you pitch a good, stable plan to them to turn your situation around, they will still be likely to work with you and adapt to your situation.

 

Don’t Overlook Organisation

If you don’t maintain a good level of organisation as a business owner, then it will lead to difficulties, especially with your finances.

Looking back at how you have reached the current situation you are facing could be contributed by the lack of organisation you were putting into your company.

Taking the time to keep all of your company orders in place can provide a more positive effect to your company as a whole and will relieve a significant amount of stress, which could have been contributing to ineffective work output beforehand.

While you are taking the time to see what you need to do to improve your business, take that time to set yourself organisational goals that you should focus on at certain times. This technique will not only help you in the long run, but will also increase the productivity you provide to your business and ensure fantastic work is constantly being maintained by yourself and your employees.

If your business is struggling, these tips will help you effectively analyse and prioritise certain areas your business needs focus on. But action needs to be taken as soon as possible, don’t delay and take action.

Find out more information in our small business section here. 

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8 Reasons to Go into Business with a Partner

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Collective effort is necessary to ensure long-term business success. While many business leaders receive praise for their individual efforts, the reality is that getting a business up and running requires the hard work and collaboration of many individuals.

As such, entrepreneurs may benefit significantly from teaming up with a business partner to start their next venture. Here are four reasons you may want to bring on a business partner before you go any further with your plans:

• Greater financial capacity
• Increased specialization
• Long term stability
• Helps you expand
• Fresh ideas
• Increased productivity
• Emotional support
• Shared goals

 

Greater Financial Capacity

Plain and simple, bringing on a partner (or two) can be a great way to generate greater capital for your company. Combined, you and your business partner may be able to make key investments that you couldn’t have done by yourself. Ultimately, resources like capital are vital for a new company. If you have any concerns about your ability to fund a startup, then think about teaming up with a business partner.

 

Increased Specialization

Business leaders must understand a wide range of different concepts in order to build a successful organization. From marketing, to hiring, to employee development, planning, and budgeting, it can be extremely difficult for any one person to address all of these issues at once. That’s why it’s useful for entrepreneurs to invite business partners to join their venture. By expanding your leadership team, you can more effectively focus on key issues you understand best.

 

Long term stability

All businesses want to stay relevant for a long time and achieve their corporate objectives. You are no longer living in isolation if you have business partners – you’ll have more understanding, creativity, knowledge, and extra funds to you. A strong business relationship helps you, bolsters your vulnerabilities, and boosts your assets.

 

Helps you Expand

If you plan to increase your company, you’ll need not only money, but also a new partner who can handle the new management responsibilities.

Your new partner can handle the small company while you handle the old one, allowing you to expand your horizons. If you’ve been eyeing a running company for sale but can’t afford to buy it outright, consider enlisting the help of a partner who is able to put up some cash.

Both businesses achieve fresh clients and are able to expand their regions. This agreement has the potential to benefit both customer groups. For example, tourists can save time by not having to go to a coffee shop, and business owners can have their office equipment instantly resupplied by a corporation that visits them on a regular basis.

 

Fresh Ideas

Sometimes, businesses can become echo chambers for business leaders. This is obviously not a good thing. Companies need to innovate in order to survive, which is why having multiple voices at the leadership level is so crucial. Different business leaders can challenge each other and push one another to find new solutions and better practices.

 

Increased Productivity

Consider what it entails, even though it sounds self-evident. Remember how many times your to-do list has gotten out of control. Remember how many times you’ve put off reaching your goals due to a lack of time. When you work with a partner, any of the things you’ve been putting off can be assigned to someone else. Your performance will rise by a factor of two, and you’ll have more time to focus.

 

Emotional Support

When you have a partner, you not only relieve some of the pressure that comes with running a business, but you also have somebody who understands exactly what you’re going through. Your partner will be right there with you, whether you’re sad, frustrated, or overjoyed.

 

Shared Goals

Not every business partnership is motivated by money –– though many are. Rather, some business partners come together because of a common goal that they share. Perhaps you both want to create more environmentally-friendly cars. Or maybe you want to introduce organic foods to a larger consumer market. Whatever the reason, having a shared goal with your business partner can help you both stay focused and motivated. Some things are more important than profits, after all.

 

The Bottom Line

Whether your startup specializes in manufacturing lab equipment like 384 well plates, or you run a local restaurant, having a business partner on hand can be advantageous.

Partnerships have some limitations, such as personal responsibility for partners and the challenge of getting buyers (however, establishing a limited liability company can be beneficial.) Consult an accomplished business association lawyer near you to decide whether a business relationship is right for your venture. A strong business relationship helps you, bolsters your vulnerabilities, and boosts your assets. This might be what you need to remain successful for a long time and to assist the organization in reaching its targets and key goals.

 

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