Category: Business
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5 Traditional Marketing Techniques That Still Work
It is the age of digital marketing but that doesn’t mean businesses should abandon traditional methods of promoting their products or services. While many people seem permanently attached to their smartphones, some people choose not to be constantly connected. Since these people may still be interested in what you have to offer, you will need to reach them through traditional marketing techniques. Digital and traditional strategies can work well together. Let’s discuss some of the old-school techniques which continue to bring in business. 5 Traditional Marketing Techniques That Still Work: 1. Neon Signs: Signage is still an excellent form of promotion and neon signs are still impactful. They are vibrant and highly visible even from a distance, yet inexpensive. This is especially helpful for small or new businesses that need lots of exposure but don’t have a huge marketing budget. Neon signs can be made in almost any shape and size so they can be used for logos, words, or anything else you may have in mind. These signs are easy to set up and they last a long time. They are great for bars, gaming lounges, tattoo parlors, and other fun, edgy businesses. 2. Billboards: Billboards are another convenient way to get your message across using visuals. The 2017 Nielsen Poster Advertising Study provides evidence that customers still respond to this traditional marketing technique. They are perfect for communicating evergreen content to large numbers of potential customers over an extended period of time. People driving along the highway or other busy streets can’t help but notice a large compelling image or carefully crafted word. Since many people take the same route every day, they will see your message frequently. If you have a product with mass appeal, billboards should be used in conjunction with your digital marketing efforts. 3. Direct Mail: Email marketing is a key part of many digital marketing strategies but you shouldn’t neglect traditional direct mail. In fact, it’s making a comeback, so you may want to prepare hard copies of your catalogs. Emails often end up in the spam folder or get ignored or deleted because people get so many of them. Direct mail is on the decline so recipients are more likely to open an envelope that comes to their home. It also seems more personal than email and is more likely to get a response. Direct Mailing Services may also bring a greater return on investment. If you're interested in direct mailing, you should take a look at this EDDM guide. 5. Flyers and Brochures: If you have a brick-and-mortar business like a store or a restaurant, don’t underestimate the power of handing out flyers and brochures. Brochures help you to share lots of information about your products or services in a tangible form. Flyers, on the other hand, are an excellent way to notify people about sales or offer special discounts. These handouts also allow representatives of your business to interact with potential customers and answer their questions. 6. Telemarketing: Don’t dismiss the idea of cold-calling in the 21st century. Research suggests calls have conversion rates of between 30 to 50%, making them one of the most effective marketing solutions. Calls were found to last almost 16 times longer than a website interaction so this traditional marketing technique should not be dismissed. Telemarketing is especially helpful in the B2B sector where you can properly segment your markets. It’s also great if you’re looking to upsell current customers or clients. Random calls will not have high conversion rates so you need to do your research and have a strategy before you pick up the phone. It’s easy to think that you should focus solely on digital marketing. However, some of the best promotion strategies involve both modern and traditional marketing efforts. Neon signs, billboards, direct mail, flyers and brochures, and telemarketing can all work well depending on your locale and target market. Read Also: Signs Your Traditional Marketing Campaign Is Working Digital Marketing: Utilize Facebook To Support Your Hospitality Business Why Every Business Needs Digital Marketing
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What’s new in soil stabilization
With increasing urbanization, population growth and the need for reliable infrastructure, it’s not surprising that the need for a diverse set of soil stabilization techniques suitable for a variety of soil and project conditions has seen matching growth. In 2017, the global soil stabilization market reached a massive US $22 Billion, and is expected to reach US $29 billion by 2023. Here we take a look at some of the soil stabilization techniques leading the field in innovation and market growth. Chemical stabilization through the addition of Lime: The addition of lime, lime kiln dust or quicklime is a popular form of soil modification and stabilization for all types of soft soils, especially wet, fine-grained and clay soils. Essentially it reacts with clay molecules, which hardens and dries out the soil with which it is mixed, improving stability and soil compressibility. Lime is the oldest soil stabilization technique still in use today and can be greatly advantageous for particularly muddy construction sites which make accessing the site difficult, and it’s also cheap. It does, however, have several disadvantages too. The production process is very energy intensive, resulting in large CO2 emissions, as high as 1.2 tons of CO2 per ton of lime produced. Achieving homogenous application is tricky, there is risk of environmental toxicity, and application over very soft soil is problematic due to the heavy earth-mixing equipment required for application. Mechanical soil stabilization through the use of Geocell engineering: Although geocells have been around since the 1970’s, the increasing global demand for more environmentally sustainable and cost-effective construction techniques has seen renewed interest in their use. Geocells – a type of geosynthetic – are constructed from strips of a novel polymeric alloy called Neoloy, which are welded together to form a honeycomb-like grid when stretched out on site. They are then filled in with local granular materials that are readily available, such as sandy soils or even recycled asphalt paving (RAP). The main environmental benefits include the ability to utilize local granular materials for infill rather than hauling in high-quality aggregates from quarries, a reduction in the required pavement thickness, improved durability of projects, and the ongoing cost benefit of reduced maintenance requirements. While awareness of this technology remains its biggest challenge, it is gaining a reputation as a good option for projects with poor soil or challenging environmental conditions. One prime example of this was the construction of an all-weather access road for MEG Energy in the Muskeg peat bog, which made use of geocell engineering in Canada. Some of the challenges facing the engineers on site included moving vehicles and materials around on the saturated, acidic soil, as well as subzero winter temperatures, extremely poor drainage and heavy rains which meant much of the site was essentially a swamp – described, in fact, as an ‘engineering nightmare’. An example of the less than ideal working conditions – geocell layer visible in back Because the peat bog soil was too deep and poorly drained for soil replacement, it soon became clear that the use of heavy-duty Neoloy geocells was the only feasible solution. Local geocell experts designed a reinforced road using one to three layers of Neoloy geocells, depending on the saturation level of the area in question. Once in place, the geocells were filled in with sand from locally available borrow pits and then compacted. The geocell layers formed a semi-rigid mattress, or a ‘floating road’ over the swampy soil. The benefits of geocell mechanical soil stabilization include: reducing stress by distributing vertical loads and extending the life of the road – meaning that even heavy rigs and construction equipment could now traverse the peat bog on a regular basis. Compaction grouting for sinkhole remediation: Building much-needed apartment housing is one thing but doing so on an area of land which is essentially one giant sinkhole is another matter altogether! This was the challenge facing contractors trying to put up a new five story complex in King of Prussia in Montgomery County, Pennsylvania. Understandably, no work on the apartment building could begin until the underlying dolomite subsoil was stabilized. The solution they arrived at was the use of compaction grouting, which involves drilling columns in a grid-like pattern, and then injecting a low-mobility soil-cement grout into the holes at high pressures. This process compacts coarse-grained soils and displaces fine-grained soils, allowing the construction site to withstand higher bearing pressures and reduce settlement – both very important in an area to prone to sinkholes. Under normal conditions, a soil profile increases in strength with depth – but on this site, the dense clays were on the surface, with weaker soils above the bedrock – hence the tendency for sinkholes to form. Drilling down to reach the unstable layer was therefore the best solution in this scenario. To complete the stabilization, the contractor - Compaction Grouting Services, Inc. or CGS - needed to drill 626 separate holes, and pump in 820 cubic yards of grout at an average pressure of 300 psi. And despite a number of challenges, including snow, rain and muddy conditions as well as a small sinkhole which opened up in an area which hadn’t been grouted – they managed to finish a day ahead of schedule. Read Also: Proper Waste Disposal And Recycling: Things To Remember Edmonton Landscape Maintenance Tips
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Business potential of stock broking agencies in India
Over the last few years, quite a few stock brokers have been forced to shut shop due to weak business. This is true not only of broking but also of other businesses where automation has been taking its toll. To survive and thrive in the stock broking business you need to be able to extrapolate the key trends in stock broking and position yourself accordingly. How do you differentiate yourself as a stock broker? That is the only way you can realize the full potential of stock broking. Remember, each year Indian investors are investing more than $25 billion into equities either in direct equities or via equity and ELSS funds. That is a lot of money. How do you grab the most of this potential? There are five things that you need to be aware of. The industry is getting divided into two segments: In the broking industry, you either need to run with the hares or hunt with the hounds. The broking industry as a whole is getting stratified into the zero brokerage discount brokers and the full-service brokers. The room for the in-between brokers is increasingly reducing. If you want to be a discount broker then focus on an efficient offering at a very low cost. Alternatively, if you want to be at the full-service end then you need to be prepared to invest in research and technology. In the past, there was room for the median brokers who were somewhere between the full-service brokers and the discount brokers. With both these categories of brokers pushing their boundaries, the gap in between is getting squeezed. First, be clear on your positioning and your strategy should follow after that. Be clear on the value proposition: This is a logical corollary to the first point. What is your value proposition? Are you offering the lowest brokerage in the market? That is an advantage that is hard to sustain over longer periods of time and the model is always vulnerable to sudden changes in the market undertone. Secondly, are you offering the best advisory services in the business? This called multi-level skills in portfolio design, need understanding, portfolio customization, portfolio review etc. This is quite complicated and any advisory is always open to an opinion about success and failure. In a competitive market, this can work both ways. Lastly, is technology your USP? In the past, technology was just a tool, but that has changed. Today it is possible to look at broking as a software company and offering a robust trading model that is super efficient and intelligent. Automate and employ technology intelligently: If you look at how brokers are adding value to their customers, most of the value addition in the last few years is coming through technology. Thanks to broadband and the use of smartphones, it is possible to trade on the fly using your mobile app. Brokers are also employing artificial intelligence and machine learning to make machines increasingly think and strategize like humans. And then there is the all-powerful call to action. Here the customer is guided seamlessly through research, screening, and execution without really realizing that they are different parts of the trading system. Engage the customer continuously through financial planning: Broking is increasingly commoditized. That is more the case when you try to offer broking as a solution rather than as a service. For an investor, the solution is the creation of wealth in the long term. The solution could also be managing risk. The solution could also entail profiting from short-term trends. Most often brokers tend to confuse between the product and the solution. Focus on the solution in this industry. When you are in the financial services industry you always start with the financial goal in mind. Help the client identify long-term goals and then prepare a plan to reach these goals. As a broker you will find out how easily equity, mutual funds, and even bond sit prettily into this scheme of things. That is the best way to increase your customer engagement and improve your ROI per customer. It is just that in this case, the ROI flows naturally. Provide a delivery platform that simple, elegant and actionable: One of the critical success factors in the broking industry will be the variety and robustness of the delivery platform that you offer. If you offer more platforms like online, offline, mobile, call-n-trade, SMS trading, non-market trades etc, then your chances of engaging the customer meaningfully is much higher. Your delivery platform should also be seamless such that the movement between research ideas; advise, screening and execution should be smooth and with minimum clicks. That is when the clients can actually experience the value proposition. The key issue here is that the opportunity in the broking industry is still huge. It is just that the nature of the opportunity is changing. As a broker, you need to position yourself in the bracket that reflects your core strengths the best. The rest will follow! Read Also: How To Become A Sub-Broker? How Businesses Can Use Stock Trading
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How to Save a Struggling Company
Operating a struggling business can feel like an extremely stressful uphill battle, especially when there doesn't seem to be any light at the end of the tunnel. Luckily, there are dozens of ways to bring a failing business back from the brink of failure. However, it will take some willpower and a multifaceted approach to pull it off. Things aren't going to fix themselves, and in most cases, a full recovery will require the implementation of some radical changes. That being said, here are some steps you can take to save even the most troubled business from its own demise: How to Save a Struggling Company: 1. Apply for a Loan: Regardless of which approach you choose to take, chances are you'll need a bit of extra funding to facilitate a full-fledged reform. If you have decent credit and can show proof that the business is earning some form of revenue, you can probably get approved for a loan on a same-day basis. Small business loans from Become. Lending Express has become a popular option for struggling companies that need extra cash flow to get out of the hole. 2. Find New Customers and Clients: While a loan can keep you from going under, to really get back on your feet you'll need to start focusing on generating additional revenue. Be competitive in your niche, provide unique products/services, and utilize aggressive promotional techniques to spread brand awareness. Most struggling businesses simply aren't making enough sales to cover their operating expenses, so the straightforward solution here is to bring more business in the door or to your site. 3. Halt All Unnecessary Expenditure: Excessive overhead is the last thing a struggling business needs hanging over them. Make a minimal list of everything your company needs to continue operating and scrap everything else immediately. After all, if you're at the stage of needing a loan or a ground-breaking ad campaign to keep the business afloat, you don't want to be wasting borrowed money on expenses that aren't even necessary. 4. Bring in New Management: When you're trying to find the root of where your business went wrong, nine times out of ten there is somebody that can be held accountable. Assess the company's primary mistakes and try to ascertain who was responsible for allowing those decisions to be made in the first place. While letting go of employees can be a difficult adjustment to make, bringing in fresh perspective and talent could be all that's needed to turn things around. Better yet, consider the advantages of taking matters into your own hands for a while. Create a Comprehensive Recovery Plan: In closing, all of the above steps should be incorporated into an overall recovery plan that will guide the business back into a state of solvency and profitability. Try to be as detailed as possible when coming up with specific goals, budgets, deadlines, and agendas. The more specific and realistic your plan is, the greater your chances of success will be, so it's important to take everything into account, even if it takes days to run all of the calculations and brainstorm it out. Read Also: Importance Of Flexibility With Business Technology 6 Loan Mistakes Every Business Owner Must Avoid
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Investing In Office Space For Your SME: What To Consider
So, your business is thriving. All the hard work is paying off and you’re starting to reap the benefits – repeat customers, growing workload, increased revenue, so is it time to move out of your 3rd bedroom-turned-office, into a more professional environment? It can be tricky to take the leap as an SME owner – so here are key things to consider when buying or renting office space for your business. Shared or Private Space? There are many options for professional working environments, including the private vs shared space debate. There are pros and cons for each option, so it really is down to how your business operates. If you are currently the only worker or you have 2 to 3 employees, you may benefit best from a co-working environment. This means you will be in a larger office space which other business people are using at the same time. You can take advantage of an office environment with internet allowance, desks, lockable storage units, and telephone systems without having to pay a hefty price tag for private space. Alternatively, if you have a larger amount of staff, or the business you run is highly confidential or sensitive, you may be better off in a private space where you can discuss business freely and openly without worrying about being overheard. There are many serviced offices across the country, with companies such as BE Offices and Prime Office Space offering both shared and private spaces so you are sure to find something to suit your business. Renting or Buying? When looking to set up your first office, you will no doubt deliberate over renting or buying. The rental market is extremely popular as it gives you the flexibility to move on at the end of the lease. So, if your business grows significantly and you need more staff, you can move to a larger space in line with business requirements. This flexibility may also be useful if you decide an alternative location may be better down the line for your business, due to localised demand for products or services. Renting also usually means fewer upfront costs than buying, but you do run the risk of rental values inflating, with a subsequent high impact on your finances. Buying is obviously a huge commitment and requires a larger investment up front. This may be suitable for you if you have a good idea of your long-term business requirements and you know that the property will serve these. This may be the case for businesses requiring large factory spaces, for example. It also gives you the ability to make any changes to the property that you desire –you own it, so you can do what you like to it. Is It Practical? It is also important to consider whether the location is suitable for you and your staff. It is easy to get to via public transport? Does it have sufficient car parking? Finally, always put your Health and Safety hat on and make sure the building abides by current health and safety standards. It may look pretty, but it needs to be a safe place to work with comfortable conditions for you and your staff. Undertake a risk assessment before you move in to highlight any potential issues and implement strategies to mitigate risks. Read Also: Choosing Open Office Space Vs Cubicle Office Space Necessary Spaces To Include In Building Your Office
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Car Insurance For Electric Vehicles Explained
You’ve taken the leap into electric vehicles, leaving behind petrol fumes and high bills at the forecourt lured by the prospect of low running costs, no vehicle tax, and low emissions. Or maybe you’re just considering ditching fuel tanks for plugs and are doing the maths, calculating whether the savings you can rack up with an EV, from the government’s rebate to lower servicing charges, can offset the higher initial outlay. While electric vehicles are exempt from vehicle tax and from charges in London’s congestion zone, and you can rack up discounts on parking permits from many councils, you can’t avoid some of the standard costs of owning a vehicle. A major, unavoidable expense is for car insurance, which is a legal requirement for any vehicle using or even parked on public roads in the UK. If you’ve never sought out or arranged insurance for an electric vehicle, you might be baffled about where to start. Cost and Providers: You may heard electric vehicles are significantly more expensive to insure and that you’ll need to see out a specialist provider. It’s true that the market for electric vehicles, and therefore for insurance for electric vehicles, is still in its infancy. As of the end of September 2018, there are just 178,000 plug-in vehicles (including fully electric vehicles and plug-in hybrids) registered in the UK, out of a total of 37.3m vehicles on our roads. But the number is rising quickly: there were 5,000 new registrations of plug-in vehicles each month of 2018, while in 2014 just 400 new plug-in vehicles were being driven off lots. With the increasing uptake of EVs and hybrids, especially in the run up to the 2040 ban on petrol and diesel vehicles, the cost and complication of insuring them will fall. Electric vehicle insurance policies will become standard fare from mainstream insurers. Today, the higher purchase price of EVs drives up insurance premiums for them, as insurers need to consider to cost of replacing your vehicle if it’s stolen or damaged beyond repair. But even now you might find insuring an electric vehicle might be comparable to, or even cheaper, than insuring a petrol- or diesel-powered car, owing to the small size and less powerful engines on EVs and the discounts some insurers can give you for driving environmentally-friendly cars. However, the process of obtaining insurance quotes and policies for an electric vehicle is different than that for EVs and a rundown will be helpful as you start your electrically-powered journey. What Impacts Cost of Insurance for Electric Vehicles: You’re probably familiar with the features of a standard vehicle that can inflate, or reduce, your monthly premiums for its insurance, including its car insurance group, the size of its engine, and purchase price. For insuring electric vehicles, there’s a new calculus, accounting for who owns the battery and the risk posed by (not kidding) power cables. leased batteries: Some EV manufacturers like Renault and Clio offer motorists the option of buying the vehicle outright but leasing its battery, with a monthly fee and mileage agreement. These arrangements spare you the steep cost of replacing batteries when they lose functionality after a few years. But if you’re leasing the battery, you’ll need to inform your insurer when obtaining quotes, as a leased battery will affect who needs to be paid if your electric vehicle is written off. Additionally, some policies may not cover leased batteries. power cables and liability: Much like your smartphone, your electric vehicle will need to be charged, just with a very big cord. If you’re charging in your driveway or garage, you won’t have to worry about the cord trailing large distances. But if you’re charging your vehicle while it’s parked on the street or at a public charging station, that cord could pose a tripping hazard. When obtaining an insurance policy for your electric vehicle, you should ensure it provides enough liability cover to protect you if a member of the public face-plants over your cable. fires from at-home charging: If your electric vehicle or cable fire while plugged in in your driveway or garage you might wonder which insurance policy will pay out: your home insurance policy or the one for your car. That ultimately depends on where the fire originates, but the risk of an electric fault within your vehicle causing a fire that then destroys you home can push up premiums for car insurance for EVs. green discounts: Some insurers will offer discounts of up to 5% on your annual premiums as a reward for you driving an environmentally-friendly car. Others will make charitable donations to green causes in your name from your premiums or plant a certain number of trees. Read Also: Why You Need Classic Car Insurance? 7 Reasons Why Teenagers Pay Extra For Car Insurance
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Proper Waste Disposal and Recycling: Things to Remember
Proper waste disposal is something everyone must remember these days. Gone are the days of indiscriminately throwing out the trash. Now we need to separate biodegradable waste from non-biodegradable waste. For example, when cleaning the yard after a party, you’ll have to separate the tissues from the plastic cups and the leftover food waste. There are a lot of things that can be found in the garbage, and a lot of them can be harmful to the environment. It is essential that you learn to segregate trash so that it can be appropriately disposed of and avoid being detrimental to nature. With that said, here are some things to remember when disposing of your waste: 1. Make sure to segregate your waste properly: Biodegradable waste like used medical supplies and broken sharp objects like glass are separated from the rest of the trash. Use different colored garbage bags or garbage containers to differentiate the items. This will ensure that contaminated items will be disposed of properly and the sharp objects will be handled properly, so no one gets hurt. 2. You can reduce the biodegradable waste you throw out: If you have a backyard with some soil or garden, dig two holes and bury biodegradable materials there instead of throwing them away, to create compost. It is a simple procedure: you dig a hole, put biodegradable waste into it, and cover the top portion again with earth. You don’t fill up the rest of the hole with dirt if you just threw in a small amount of waste. Instead, cover the trash with just enough soil to block it from smelling, and you do this until the hole is filled up. 3. Some materials, like eggshells or bones, take very long to become compost or don’t degrade at all: You may have to crush them into powder before burying them with the other biodegradable waste. If you don’t want to, you may dispose of your chicken eggshells and bones. 4. Recyclable materials must also be sorted out based on what they're made of for easier disposal: Grouping together aluminum cans separate from plastics will make it easier for the removal services. Also, you may want to find some things that are usable enough to keep, such as glass jars, which make excellent containers if cleaned well. Moreover, if you are looking for a trustworthy rubbish removal company then click here to find the best one. As an option, you may also want to call a yard waste removal service instead of waiting for the weekly public service to pick up the trash, especially if you have been clearing out a lot of things in your home to get ready for a home improvement project. These removal services will ask for some details regarding the junk that they will be picking up, so if, for example, you have a huge amount of garbage you want to get rid of, you’ll probably need to send them a picture and details about the trash. Not only will you be helping the removal service if you follow the tips above, but you can also help contribute to a cleaner environment by reducing your waste. It doesn’t take much to act on the suggestions above either, and you can plan on doing these tips in your own time thanks to junk removal services now being available to contact even on the internet. Read Also: 8 Plumbing Myths Busted 6 Tips For Keeping Your Home Clean (With Pets And Kids)
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Importance of Flexibility with Business Technology
The rapid advancement in technology has disrupted businesses in more ways than we can imagine. What was once executed by a team of professionals in a conventional context can now be accomplished by technology. Through this innovative technology, businesses have become more interconnected than ever before and employees have had to keep up to remain productive and valuable assets regardless of their location. This strategy has essentially made flexible work schedules a much more convenient option to tap into new markets and attract more customers. As a business owner, it’s imperative to consider intertwining business technology and flexibility to attain exceptional services. Enhance Unmatched Competitiveness: The most successful companies have consistently gone above and beyond to integrate new technology into their existing businesses. A flexible and tech-oriented company responds promptly to market changes by recognizing that change is inevitable and keeping up with emerging tastes and preferences has become essential in optimizing competitiveness. Remember, the notion that your company is too big is nothing short of an illusion that can spell adverse consequences down the road. As a business owner, you need to be quick in managing change and adopt technology tailored to your specific consumer needs to only earn substantial profits but also stay relevant within the industry. Optimal Efficiency: Visionary entrepreneurs have never shied from adopting new sales strategies even their current systems are working just fine. Continuously harnessing your craft as a business speaks volumes about your commitment to reinventing your operations to foster innovation and deliver better customer experience. By prioritizing on optimal efficiency, your business will be in pole position to cut down on operational costs and earn substantial profits in return. Harnessing Teambuilding Efforts: Technology has consistently proven to yield substantial benefits by harnessing teambuilding efforts. As a business owner, it’s in your best interest to incorporate technology and identify each employee’s strength and weakness. While two employees can never be the same in terms of reasoning, productivity and efficiency, managing change in this crucial juncture should be your utmost priority to nurture seasoned employees. An exceptional business owner understands the need to unite employees from various backgrounds with different skill sets to not only complement each other but also work as a synergetic team. Flexible Work Schedules: Flexible work schedules have progressively built up momentum to become a norm in upcoming businesses and startups. With millennials well versed with the highly evolving technology through applications, video calls and instant messaging, it makes total sense incorporating flexible work schedules to harness optimal productivity from each employee. Each team member is unique in their own way and location shouldn’t be misconstrued to be a barrier to efficient productivity. Rather than confining them in an office setting on a 9 to 5 schedule, consider introducing flexible schedules and monitor the substantial productivity yielded. Eliminate Communication Barriers: Achieving employee efficiency is a hallmark of shrewd planning and execution that many businesses have strived to achieve. This essentially means letting your employees exercise their creative freedom to communicate however and wherever they are without location or communication barriers. This doesn’t mean letting them get away with whatever they want. Far from it, it simply means introducing cloud-based platform through which your employees can access and upload work content wherever they are and still enjoy prime features such as screen sharing and video calls. Read Also: Information Technology And Business Success: The Things That Connect Them How Does Modern Technology Propel The Success Of Your Business?
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6 Loan Mistakes Every Business Owner Must Avoid
If you’re a business owner, it’s highly likely to come across situations where you’ll need a business loan. In such events, a business loan can fulfill the fiscal deficit to help keep the business on track. The only catch is taking a business loan can sometimes be a complicated process, and owners might end up making uninformed decisions. We’ve listed below some common loan mistakes that every business owner must avoid while taking a business loan. Here are 6 Loan Mistakes Every Business Owner Must Avoid: 1. Waiting Until Last Minute: Business loans are not only for covering up last-minute emergency expenses. The best use-cases of a business loan can range anywhere from hiring new people to investing in new technology. Waiting till the last minute, when the business cannot go without an immediate availability of cash is a recipe for disaster. It’s always a good idea to prepare for the future, more so, in the case of a business. Last-minute decisions are often hasty and a result of poor judgment where business owners are likely to take any loan deal that comes their way. It can backfire and incur more losses in the future. 2. Borrowing More Than You Can Afford: Just because you are eligible for a huge business loan doesn’t mean you should take one. Before even applying for a business loan, you should evaluate your business’s present financial situation. If you end up borrowing more than you need, paying it back can get difficult. Furthermore, not spending everything will lead to ‘dead cash’ in your bank account. So, do your math, check your statements, and only apply for an amount that your business actually needs. 3. Not Knowing About Collateral-Free (Unsecured) Business Loans: Most banks will insist on having sufficient collateral before they approve any loan. Banks that require collateral will only provide secured loans. However, some banks and lenders offer business loans without any collateral. This type of loan is known as an unsecured loan where the business owner doesn’t have to pledge any business or personal assets to the bank. Unsecured business loans with bad credit are the best option for you if your credit score didn't reach the standard requirement of most lenders. 4. Not Keeping a Good Personal Credit Score: Different financial institutions will have different criteria for giving out business loans. However, most of them will definitely consider the credit score of the owner while processing any business loan application. A good credit score shows that you’re a good steward for your money. It also helps in negotiating better rates. Hence, maintaining a good personal credit score becomes critical for business owners. 5. Not Solving Current Cash Flow Problems: As a business owner, your entity may require money for different needs. However, if you’re looking to get a loan to fix irregular cash flow in your business, it might not be the wisest thing to do. Analyze why your company has irregular cash flow and don’t be a statistic of the sunk cost fallacy. Sure, you can have a temporary fix, but once the loan money is utilized, a business can again go back to the same. In such a situation, it’s important to make sure that finances are under control after utilizing loan money. 6. Not Knowing the Agreement: Signing an agreement without reading the finer details will put you as a business owner in an undesirable situation. Sometimes the financial institution giving out a business loan can put a little remark in the agreement that will require the borrower to pay additional fees. More than that, the agreement can even have a clause of variable interest rate. Hence, it becomes essential to read the documents carefully before signing. At any point, if you’re uncomfortable with the offer, talk with the lender to negotiate a better deal. Conclusion: It’s not unusual to hit occasional financial hurdles when running a business. To help overcome these situations – business loans from financial institutions can help owners get over financial difficulties. Gone are the days of lengthy processes or huge collaterals to take a business loan, so don’t be nervous if your business is losing some steam over money. Today, the online mode for business loan applications has made the entire process seamless, and financial institutions like ABFL Direct offer loans with no security whatsoever. There are minimum paperwork and a flexible tenure for business to pay it back. Read Also: Resolutions To Help The Small Business Owners To Avoid Being Bankrupt Benefits Of NBFC Business Loans
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How to Protect Your Business from Downtime
One of the costliest experiences your business can face is network downtime. It can result in tremendous loss of profit if contracts are not fulfilled or services are not provided simply because you cannot access the relevant information you need. While there are many advantages to moving to a cloud network, there are also some things that can go wrong. As with any business practice, it is important to plan for what can go wrong and protect yourself when this happens. Expect the Unexpected: Downtime can occur at any point with little notice. When this happens, it can fully interrupt your daily business plan and can leave you spinning and looking for something to do until you can get online. To minimize the loss in this time, it is imperative that you develop a full continuity plan to be utilized in the event of downtime. You may also need to check any service level agreements (or SLAs) that you may have with a third party to make sure that you are protected from any action from then during downtime. Appreciate That It Might Sometimes Be You: These frustrating periods of downtime are not always caused by the cloud provider. Sometimes it might be as simple as a dodgy script or piece of code causing your cloud to go down. In this scenario, the onus is on you to fix it and not upon the cloud provider since the problem originated from you. Check everything frequently to ensure that you are completing things to the best of your ability. Any coding needs to be properly checked before it goes live on the site and bugs need to be found and fixed as quickly as possible. If you are introducing something from a third-party developer, make sure that is from a reputable source so that it does not damage any of the structure that you have worked so hard to build. Do not add anything to your cloud unless you know exactly what it is and where it has come from. Use a Multi-Cloud Structure: By using a multi-cloud structure which operates across different accessibility zones, you are decreasing the likelihood of your business being completely cut off from its work. This may not eliminate your downtime risk but it can certainly help to minimize it. Check that the individual cloud providers you are using for your hybrid structure aren’t using the same data centre and the same resources. If this is the case, having a multi-cloud structure for the purpose of reducing downtime is completely redundant. Prepare for Recovery: Sudden downtime can result in some awful loss of data and projects if you are not careful. Sometimes, this loss can occur even if you follow the best online practices. To best recover from downtime and data loss, you will need to use some proactive measures and potentially contact an expert to help. Disaster Recover as a Service (or DRaaS) is a service which can be implemented as part of your overall cloud package from the right provider. Along with other services like infrastructure or software, many should be able to offer disaster recovery. Find out more about DRaaS from ukcloud.com; these experts know all about it. Downtime may seem like a scary prospect which can seriously affect your performance depending on how you handle it. Like many aspects of business, you will be able to weather even periods of unexpected downtime if you have a proactive business plan in place. Be sensible, and you will be able to protect your company properly no matter what is thrown at it. Read More: 5Tricks for Using Twitter to Grow Your Business. The Top Reasons Why Your Business Needs a Security Guard. Thinking of becoming an entrepreneur? What is the cost to start a business?
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Top tips for inspecting and maintaining garage
A large percentage of homeowners stroll in and out of their garage and don’t give a second thought about it. But it is extremely important that you don’t neglect your garage and keep it in the best condition possible. For maintaining garage you have to understand the facts that can help you to achieve your goals. After all, it protects one, if not a couple of the biggest investments you and your partner have ever made (your cars), along with whatever else you have in there. Think of it this way, the odd maintenance job could save you and your family from losing out on thousands. If you’re looking for a brand-new concrete garage to protect you, your family and your belongings from the dangers of the outdoors, look no further than Dencroft Garages. Their friendly, experienced staff are always at hand to help out, give them a call now. Different Ways You Can Apply For Maintaining Garage Keep the door running smoothly A lot of new garage doors these days are self-lubricated, but if they aren’t, it is recommended that you apply oil to the rollers, hinges, and tracks every couple of months. Another important note to take is this – occasionally be checking the rubber seal at the bottom of your garage door as it can tear and wear, and allow the elements to creep under (replacing this seal can cost £100). Also, regularly check that the sensors on either side of your garage door still work by closing when something crosses its path. Clean the floor To prevent hazards, slips, and from occurring, clear your garage floor and hose it down. If there is a serious trip hazard due to a bit of concrete which has crumbled or separated, you can try to patch it back up yourself or call a contact a concrete contractor. If you’re looking for further tips and instructions to clean the floor in your concrete garage, this article has five fantastic tips to make sure your garage floor is looking the best it can be.For maintaining garage Monitor the walls You should check your walls at least twice a year to see if there any cracks or moisture. If you see any discolor or mold on the walls, then moisture is seeping from the roof or the walls and needs to be seen to straight away – call a building or roofing contractor for the further inspection. For maintaining garage you have to monitor walls. Clean interior doors Your interior door plays a huge part in the safety and insulation of your home, so once a year you should clean it and make sure that all the weather-stripping is still intact. If not, then replace the weather-stripping – this stops all the elements from entering your home. Watch for pest invasions Insects such as termites and carpenter ants can seriously damage the quality of your garage walls, so to prevent them from invading your garage, inspect dark, cool and moist spots – particularly where the walls meet. If you see chewed wood you will most likely have termites, or if there are trails of sawdust, it’s carpenter ants – this is when you should call in pest control experts. Read Also: 5 Factors To Consider When Buying A New Garage Door 5 Other Uses For Your Garage
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Creative Marketing Strategies to Put Your Small Translation Business
As the owner of a translation business, you know firsthand just how much a good marketing strategy can make or break you. However, your current advertising strategy often makes you feel like your company is getting, well, lost in translation. You need to make a change as soon as possible. But you're just not sure where you should start when it comes to updating your marketing plan. In this post, we're sharing both print and digital advertising tips that you can't afford to miss out on. When you're ready to dominate your target market and outrank your competition in the search engine results, keep on reading. Start with Your Website Especially when you're running an international business, you need advertising tips that can reach everyone on the globe -- at the same time. In short, while a strong website is important for every company, it becomes even more essential for brands who need to reach people in different time zones and across different languages. In other words? Even though you're running a translation business, it doesn't change the fact that nearly 3/4 of consumers say they prefer to read content in their first language. Start by looking for the right tools and plugins that will automatically change your site's language to the language of the user. But don't stop there. Having an intuitive and branded web design are also key digital marketing tips. This matters because people will stay on a site they find easy to use for much longer than average. Pop-ups, autoplay features, or just sites that take forever to load won't cause them to click away after three seconds. This helps you rise in search engine rankings. First of all, ensure your site loads quickly and completely on desktop and mobile devices. Use menu options at the top of your page to help users find exactly what they're looking for as fast as possible. If you're blogging (more on that in a minute) make sure you've taken the time to properly categorize your past posts. Above all, keep your homepage engaging and organized, like on this website. Finally, don't forget to include your company's contact information on not just the homepage, but every page of your internal website. Remember that consumers won't always come to the homepage first. Don't make them hunt around on your site to find out how to get answers to their questions or sign up for your services. Blogging and Guest Posting Now that we've covered how your website will drive more customers to your translation business, let's talk about how blogging can increase your site visitors by around 300%. We understand that blogging is a lot of work -- and, if you have to hire professional content services to write your posts for you, it can also be expensive. So, why is it worth it? First of all, it helps to increase your authority and brand recognition within your target market. By providing information-based (as opposed to sales-driven) blog posts, you strengthen consumer trust in your brand. Plus, blogging also tells Google and other search engines that you update your entire website more often than companies who just have a static site. This means that you'll be able to outrank your competitors in the search engine results. Plus, you'll also have more indexed pages (AKA, pages that have been read and categorized by Google.) This also helps you get higher up in the search engine result pages. Blogging also gives you an amazing opportunity to connect with your target market and shorten your overall sales cycle through the use of keywords. By naturally including keywords (what people type into search engines when they need a translation business) in your content, your website will show up in front of people who are ready to buy exactly what you're selling. But blogging alone isn't enough. You also need to get into guest posting. This is one of the best online advertising tips because it gives you the chance to broaden your market and increase your brand awareness at the same time. Write articles and blog posts for popular online journals, websites, and even forums that are relevant to the translation industry. Other Key Digital Advertising Ideas Of course, your digital marketing strategy shouldn't begin and end with site design, blogging, and guest posting alone. There are a few other digital marketing tips you should take into consideration, too. Make sure that you claim your third-party listings on platforms like Google My Business, and fill out your profiles as completely as is possible. This is especially helpful when it comes to connecting you to your target market. Those third-party listings are also important because they allow your customers the chance to leave online reviews for your business. While having a testimonials section on your website is a good idea, most consumers feel that third-party site reviews are less biased. Make sure you frequently read and respond to these reviews -- yes, even the bad ones. You want to prove to potential and current clients that you take their input seriously. Social media is also essential in the online marketing world. However, especially since you're a smaller business, we suggest that you conduct some market research to find out which platform your customers spend most of their time on. Focus your efforts there first, and then expand to other platforms. If possible, aim to post three times a day: morning, noon, and night. Finally, never underestimate the power of an e-newsletter. Not only will this allow you to let your leads and current customers know about new product offerings and flash sales. E-newsletters can also help to build up a personal connection between you and your market. You can feature employees of the month, tell customer stories, and even ask for feedback in survey form. Offline Advertising Tips for Your Translation Business Yes, having a strong digital marketing strategy is incredibly important for your translation business. However, it doesn't mean that you can completely ignore print marketing or offline marketing in general. Now, let's take a look at some seriously effective marketing ideas that don't require an Internet connection. Host an Event One of the best ways to get your name out there is by hosting an event in your local market. You don't have to spend a lot of money in order to increase your brand recognition -- you just have to focus on inviting the right people. Invite other local businesses to a dinner at an international restaurant in your area, or host a "language night" at a local school. Focus on event spaces that have a global feel -- even having a "movie night" where you show a popular international film could work. We suggest handing out promotional products at these events. This way, even if attendees don't need translations services now, they'll know who to call when they do in the future. Don't Underestimate Mailings Relying on the cousin of the e-newsletter, paper mailings, to get the word out about your business is still an effective marketing idea. People love getting "snail mail," especially as it becomes rarer and rarer. Whenever possible, hand-address your envelopes to increase their open rate. When you send out mailings, think outside the holiday card or business pamphlet alone. Instead, consider including things like a magnetic calendar, so that customers can have your company in their heads all year long. You could also include a paper card with a discount code. The same goes for simply including a physical coupon offering them a percentage off of your services. Also, slip in a few of your business cards, and handwrite a note on the back of them. You may also want to create a branded letterhead or stationary, in order to increase your brand recognition. It's all about building a personal connection between you and your leads. Grow Your Translation Business with These Tips We hope that this post has helped you to better understand how to market your translation business both on and offline. Remember that conducting thorough market research -- and knowing when to ask for the help of a professional marketing team -- will take you a long way. Looking for additional advice about how to build your brand? Want to ensure you're creating evergreen content that your market will love sharing on social media? Want to understand how good web design increases your conversions and grow your traffic? Our blog can help you to learn all of that and more, so keep coming back to us for more advertising advice. Read Also: What To Look For In A Transcription Service Provider 4 Factors To Consider When Making A Great eLearning Course
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