Category: Business
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6 Steps to Starting a Business in Michigan
You’re finally ready to take that plunge, and the great state of Michigan is an ideal place to open a new business. Whether you’re setting up a shop in a quaint small town like Frankenmuth or a thriving metropolis like Detroit, you should take some critical steps to give your business the best chance of success. Every business is different, and no business owner will have the same path to opening day. However, there are a few critical steps that every new enterprise must take to cover their bases and protect their investment, including: 1. Finalize a Concept: Before you invest in opening a business, you need to know your concept, goal, and customer base. This includes how you’ll market yourself, how you’ll distribute your product and provide your services, and how you plan to grow and build on your success. Before you open your doors, know your industry and your place in the market and address all important considerations to ensure you don’t have to course-correct. Having a solid business plan can save you a lot of money, especially when developing your branding and dealing with third parties to design your logos and advertising. 2. Register Your Business: Before you can legally open your doors, you need everything to be in order with the government—both federally and locally. You must pay taxes, so make sure to get online IRS EIN Tax ID. You must pay taxes, so make sure you file with the IRS for a Federal Employee Identification Number. This helps formally identify a business in the eyes of the law. Michigan has one of the more detailed and structured business registration laws in the U.S., so make sure you apply for any necessary licenses and permits before you open your doors. This could avoid costly fines and shutdowns later. It’s common for many businesses to need multiple permits, with specific commercial and industrial activities warranting independent certification. 3. Open a Bank Account: You may have a personal bank account, but this isn't the account you want to run your business out of. A business should have an independent bank account for several reasons, including greater liability protection for your personal assets and purchase protection for your customers. It also comes in handy during tax season when you need to identify business expenses. Business accounts can accept credit card payments more efficiently and allow more opportunities for funding. Setting up a business account with a bank will give you access to a line of credit that can be useful if unexpected costs crop up or you need to make a significant up-front investment to get your business started. 4. Obtain Proper Insurance: This is possibly the most critical step in setting your business up for success. Even if you do everything right, an unexpected disaster could put your business in a tight spot, and insurance gives you a safety net. You should look into property insurance and insurance on any valuable asset you have in the business. However, there’s one type of insurance that’s not only essential—it’s mandatory. Michigan workers' compensation laws require any business with three or more full-time employees or with one or more people for at least 35 hours a week to have workers' compensation insurance. This insurance covers costs if an employee gets injured in the course of the job. This protects the employee and covers you as, in most cases, an employee gives up the right to sue when accepting workers' compensation funds. 5. Hire a Strong Team: A business is only as good as its employees. While many small businesses start with a shoestring team of their owner and maybe their family or some close friends, hiring your first batch of employees is a critical step. You should be able to trust these people with the fate of your business, so make sure to interview and vet each new hire carefully. Ideal characteristics to look for include the ability to think on their feet, a history of commitment, and good people skills. Not every prospective employee has the experience you need for your business, so it's ideal to have specific skills training plans. This also ensures everyone is on the same page when they first start. 6. Spread the News: You’re almost ready to launch, but a business is only off to a good start when people know about it. This is especially important for a startup, and it’s better to spend smart on marketing than to spend big. This means knowing your customer base and knowing how to appeal to them. Targeted advertising, both online and brick-and-mortar, is more effective than mass advertising. Even if you’re operating on a budget, don’t be afraid to start by offering promotions to allow people to sample your product or service for a lower price. This can be a great way to build long-lasting loyalty once they get a taste. A Good Start Pays Dividends: A business’ success or failure is often determined before they open their doors. These tips will protect your investment and increase your brand awareness. If you cover all your bases, you’ll have the tools you need to secure your spot in the market. Read Also: Start-up Business Management: How to Reduce Risk and Guarantee Success Why Virtual Offices Are The Future Of Business Business Pieces of Advice: Stepping Stones for a Startup Owner
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The Challenges of E-Commerce SEO
SEO is an essential part of running any business with an online presence (which, in this day and age, all businesses should have). Think of SEO like a bright sign with flashing lights, telling people passing by that your business is here and draws them inside to check it out. However, some businesses will find implementing SEO to boost their site's rankings easier than others will. Especially when it comes to businesses in the e-commerce sector, SEO can be quite a challenge. Even if you've been researching how to improve SEO for your company, you may not be able to find resources that apply to e-commerce companies. Playing By Google's Rules The goal of any business with an online presence is to rank high enough on Google's Search Engine Results Pages (SERPs) to be seen by customers. Although this is a challenge for any business, E-commerce businesses will find it especially difficult. This is because Google prefers websites that rank high on their E-A-T scale, which measures sites based on Expertise, Authority, and Trustworthiness. In other words, Google prefers informational websites over commercial ones and rewards those that highlight genuine knowledge and don't appear to be trying to make quick money. This criterion is part of Google's method of quality control. As an e-commerce business, your website lies in the YMYL (Your Money Your Life) category. This category encompasses websites whose content can affect the reader's financial, physical, and medical wellbeing. Because the stakes are higher, the scrutiny is higher as well. YMYL websites with misleading or inaccurate information can trick users into making an uninformed decision, causing them harm. Your e-commerce business fits into this category by allowing customers to make purchasing decisions that can cause them financial harm. Managing A High Volume of Content Most e-commerce sites offer listings of hundreds if not thousands of physical and digital products. Product listings are not necessarily written with the utmost care, but Google still parses them like it does any other text on your site, and therefore measures them with its E-A-T criteria. This can be an issue because, due to the sheer number of product descriptions required, many e-commerce sites rely on automation to update these listings. While automated services can be helpful in some regards, they can also lead to typos, grammatical errors, dead links, inaccurate information, and other mistakes. All of these issues can be detected by Google, lowering your website's E-A-T score. Although time-consuming, your best option would be to hire someone whose job is going through every listing individually to update and correct any errors, making sure it meets Google's standards. Bouncebacks Based On Loading Time Your website's bounce rate is the percentage of users who visit briefly and then leave using the back button or by clicking on an external link without browsing other pages on the same site. While one reason for high bounce rates can be a dull or outdated website, this issue can also be caused by poor hosting. E-commerce sites often have lots of buttons, listings, and pop-ups. Pages aren't simple and include many elements. Having so many processes that must run simply to present a page can result in extended load times for users. Unfortunately, most people online are impatient. If your site doesn't load as quickly as visitors think it should, they're likely to leave without browsing, let alone making a purchase. The Google algorithm sees the high bounce rate as a sign that people find no value in your website, so it lowers your ranking and sends fewer people your way, resulting in fewer purchases and reduced revenue. Fortunately, fixing this issue can be fairly straightforward. Either make your website's landing page (the first page that loads for visitors) simpler to avoid long wait times, or contact your website hosting service and look into upgrading to more powerful servers. User Reviews User reviews are a great and almost guaranteed resource for building your E-A-T levels. Google prefers sites that let users review products, as this creates a sense of social credibility and allows people to share feedback, building trust. The more positive reviews your products have, the more Google will boost your website up the SERP. However, too many negative reviews have the exact opposite effect, hurting your website's ranking. You can avoid negative reviews using a review posting tool that allows you to read submitted reviews before they are posted. Knowing Where to Start When faced with the challenge of implementing SEO as an e-commerce business, deciding where to start can be overwhelming. Google doesn't give you a gold star for trying, and starting multiple SEO strategies only to quit them midway can even flag your site as suspicious in Google's eyes. One way you can get started properly is by using Ahrefs' Site Explorer to identify SEO opportunities. You can use this particular tool to analyze what competitors are doing in terms of SEO and piggyback off it, or implement a skyscraper method where you do what they're doing but better. Or you can use it to analyze your own site to find new competitors or broken backlinks. Site Explorer also provides keyword research, backlink profiles, PPC campaigns, and more. Still, a great tool is only useful in the hands of someone who knows how to operate it. Having dedicated SEO experts focused on boosting your site can have better results in the long run. SEO strategies are multi-faceted, and high-quality approaches are time-consuming. Staying Up to Date Google's algorithms are constantly changing, meaning your SEO strategy needs to change with them. As the owner of an e-commerce company, you'll need to be particularly flexible and adaptable. Just like posting only a few times on your site and still expecting increasing returns is a flawed strategy, undertaking a half-baked SEO strategy will hurt you more in the long run. Having experts on your marketing team allows you to smoothly ride all SEO waves and grow your website. Read Also: 8 Key SEO Strategies for E-Commerce Websites How to Monitor the SEO Health of Your Website 5 affordable e-commerce shopping carts for small business Best E-commerce Platforms for Your Box Subscription Business
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Importance Of ADP Payroll Services For Small Businesses
Most businesses don’t want to spend their time, resources, departments, and assets processing payroll, which is a big mistake. If you are a business owner and want to take your business to the next level of excellence, you should embrace payroll services. Yes, it is one of the most critical things that need to be considered by businesses of almost all dimensions. To improve business functionality, customer services, product innovation, and decision-making procedure, and eventual outcomes, then you should invest in payroll services. Managing payroll is a critical aspect: Of course, there is no denying that managing payroll is a critical aspect and is quite challenging. Still, with powerful and robust software solutions, it becomes easier for businesses to manage their payroll. Besides that, payroll software solutions help companies to know and understand new tax and labor laws, which allows them to stay ahead of the game. “Payroll has always been a complicated matter for businesses.” According to a report, most businesses come under intense scrutiny and legal frameworks because they do not have a sound payroll management system. Thanks to ADP Payroll: Most experts believe that modern businesses should invest in ADP Payroll Services because they are designed for companies that want to stay ahead in their niche and compete with their most formidable competitors. Since it is mighty, it can reduce the entire burden of businesses. It can also keep the whole record of employees. ADP Payroll has the potential to transform: When it comes to accuracy, seamless execution of payroll and HR department, and comprehensive capabilities, nothing can beat ADP Payroll. It has incredible features, which makes it an ideal platform for enterprises. In other words, ADP Payroll has the potential to transform the HR sector in its way. Since it promotes seamless working and record management, it gives fantastic opportunities to businesses. Safe, fast, efficient operations: Today, every business section is experiencing a massive and unbridled shift in technology, so why not the payroll one. Thanks to ADP Payroll, which is here to assist businesses to curb current and future challenges. ADP Payroll not only ensures safe, fast, efficient operations but also commitment towards the organization. Indeed, it can act as a mechanism for organizations to manage their payroll and HR departments smoothly and minimize disputes and other types of complaints. Why ADP Payroll? Unquestionably, ADP Payroll provides the most crucial support to the business. Still, some companies believe that a manual system is also capable. Let us see why a company should invest in ADP Payroll – The service is entirely cloud-based. No need to maintain any software or waste your time in exhaustive download. The services are accessible through the Internet. It is fast, secure, and aligned. It can help you with tax information, workers’ compensation, earnings, etc. “Businesses should understand the primary importance of making organizations more easily adaptable to change.” Transform operation models: You will be surprised to know that such payroll solutions can significantly transform operation models, business models, and eventually the entire business ecosystem in a positive way. ADP Payroll is an ideal choice for enterprises of all levels. Of course, it is good to stay highly selective when it comes to payroll services and solutions; however, when it comes to ADP Payroll, no need to worry at all. The bottom line: Whether you want to streamline your departments, gain employee insights, keep a record, build competencies, or outperform your competitors, you can always rely on ADP Payroll. Hence, if you want to improve business performance and outcomes, then you should pick ADP Payroll… Read Also: Why OKRs Help Businesses Grow and Improve Is A Time Card App Really Necessary? Data Points To Yes! 5 Perks of Having QuickBooks Pro for Your Business
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Starting A New Shoe Business: Here Are 5 Areas You Need To Concentrate On
Starting a retail business is not easy as it sounds. The difficulty level increases further when we are talking about show retail business. The market is filled with several brands already. So, why would audiences buy your shoes? If you are thinking of entering the market with a shoe brand, prepare something new and unique to give your audiences. Despite shoes worn on the lowest section of your body, they add value to your fashion sense and remain a topic of discussion for fashion enthusiasts. In this perspective, shoes can certainly be a lucrative business. How To Start A Shoe Business? Shoes hold a major part of the fashion and practicality importance. Hence, it gives lucrative business opportunities. Entering the retail shoe market can be divided into several steps. Step 1: Look For Manufacturers Decide on what type of shoes you want to make. Whether you will produce normal shoes or leather shoes? If it is the leather shoes, whether they are normal, tanned shoes or vegetable tanned leather shoes? If they are vegetable tanned shoes, where to buy vegetable tanned leather? You must be prepared with everything before you can launch your business. Once you're ready to make your idea a business, the very first step is securing a manufacturer who can supply you with all the needed raw materials. Step 2: Write A Business Plan Now that you have secured a manufacturer, the next step is to secure a groundwork business plan. Like any other business plan, a show business plan has the same components. Product description. Target sales venue. How will you sell your product? Legal forms. Projected revenue. Total marketing cost. Once you have laid out a ground plan for your business, you can take your idea to an investor or bank for funding your business. Step 3: Hire Professional We know that most people want to be the business's sole employees and want to do everything by themselves. Well, that is a good sign that you are giving everything to your business. But the real problem will arise when the demand increases, and you will not be able to do everything by yourself on time. Hence, hiring industry professionals to help you out with your business is the best way to move forward with your business. Step 4: Choose A Storefront Once you have covered up all the necessary aspects of your business, the next thing that remains is to decide on a storefront of your business. There are two ways in which you can sell your product: online and offline. With the online approach, you need to invest in creating a good eCommerce website for your business. However, if you decide to go the traditional way, you need to secure a place to set your shop and relevant documents associated with a brick-and-mortar business. Step 5: Put Your marketing Plan Into Action The final step is to market your business and let the people know about your product and brand. Marketing helps the business convey your goals and what you want to achieve from this business. Having a strong online presence is the key to reach wider audiences’ bandwidth. Today, every brand is using social media to leverage its marketing effort. You can also do the same and reach out to your audiences. Conclusion: The shoe market is a massive field. You will find shoes for everything- jogging, walking, men's shoes, women's shoes, formal shoes, party shoes, and so on. There is no end to the type of shoes you can in the market. Hence, you must come up with a niche to offer your services. Decide what type of shoes you want to sell. Remember, your personal choice should not influence the business plan and shoe types; you must look into the market trends and then decide. Otherwise, your business will live a short life. Read Also: 5 Steps to Accelerate the Growth of Your Startup Online Marketing: Selling Your Product And Services Why Should Retailers Use Pricing Tools For Their Businesses 5 Things Most People Don’t Consider When Starting Their First Business
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Why Virtual Offices Are The Future Of Business
During this worldwide pandemic, people have been forced to work from home much more than they venture into the office. Not only is this the safest and smartest option to remain healthy during these trying times, but having a virtual office makes the argument for increased productivity while working remotely. A virtual office space enables professionals to be physically present at a certain address without being at the company’s location. By providing flexibility, a virtual office can help those who work far away from their typical workplace remain productive. Benefits of a virtual office: Administrative staff- A virtual office solution in your home or co-working space typically features an administrative assistant and staff trained to help you improve your productivity so you can focus on what really matters - your business. The staff will answer your phone, take messages, and greet clients while calling in for their phone meeting. When searching for a virtual office in Boca Raton, make sure you find a service that features an administrative staff to increase your focus and productive hours on the job. Click here if you’re aiming to put a stop to that tiring search. Conference space- The second benefit of a virtual office is the on-demand conference space used to speak with clients, host a meeting, or set up a business presentation or proposal. Most virtual offices in Boca Raton will use this feature to be beneficial for start-up companies and entrepreneurs who need to frequently pitch their idea. On-demand business center- Another aspect most virtual offices feature is an on-demand workspace that is the perfect solution for preparing for an interview, organizing for a meeting, or reviewing the notes from your latest team collaboration. As you search for the perfect virtual office in Boca Raton for your small business, make sure you find one with an on-demand workspace. Rent Virtual Offices in Boca Raton: There are many options for virtual offices while living in Boca Raton. If you live too far away from your workplace to make the daily commute, or you want to physically distance during Covid times, a virtual office can be the best solution for your predicament. Here are some of the most popular virtual office options in the Boca Raton area that might be of interest to employees, business owners, or entrepreneurs: Federal Highway Office Center - This Boca Raton virtual office is located right in the center of the city, featuring collaborative workspaces, networking events, and call answering help. Yamata Road Office Center - Yamata is a convenient choice for those who want a mail-handling service and on-demand conference rooms for important business meetings. West Palmetto Office Center - Lastly, this virtual office in Boca Raton offers receptionist services and on-demand conference rooms to help your business flourish. Conclusion: Virtual offices could be the wave of the future, helping reduce daily commute time and boosting productivity through services like receptionist call answering, on-demand conference rooms, and administrative staff. When looking for a virtual office in Boca Raton, you will be happy to find there are plenty of options to suit your business needs. Read Also: 4 Reasons Your Home Business Needs A Virtual Receptionist Balancing the Books with Outsourcing – Virtual Receptionists
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Mutual Funds Vs Stocks: Which One Is The Best Option For You
Many people already know that mutual funds and stocks can be excellent sources of income and present great opportunities for investment. When it comes to monetary assets that give outstanding dividends, then the concepts of stocks and mutual funds are quite easy to understand and they have the potential of maximizing your earnings. Both stocks or funds are now known to be some of the most popular investment vehicles that many investors are interested in. This article discusses mutual funds vs stocks. Mutual Funds Versus Stocks It’s worth noting that stocks refer to the physical representation of part of a company’s value that can be traded on the stock market. Therefore, when a company decides to go public and issues its shares, it means the combined value of the shares either owned by persons or the company is what makes the total value of that company. As a result, being a shareholder means you own a small part of the company and you can take part in all the annual shareholder meetings. On the other hand, mutual funds are made of a pool of funds gathered from several investors to buy securities, such as stocks, bonds, and other assets. Simply put, mutual funds refer to a collection of bonds and stocks that fund managers manage. Hence, if it's a debt mutual fund, then it can have government bonds and securities, while an equity mutual fund can have stocks. Ideally, an investment in mutual funds is a type of investment in bonds and stocks that is managed by an investment firm. Direct investment in stocks is considered to be an active type of investment that involves you handling the buying and selling of the products yourself. For a new investor, perhaps it’s a good idea to choose mutual funds as it allows the experts to handle the investment on your behalf. Direct investment in a share is great for people who understand the market and can manage it themselves. Key Differences Between Mutual Funds And Stocks Keep in mind that shares are usually offered to the public as a business growth strategy for companies while mutual funds are just an investment for people. Because mutual funds are a portfolio of stocks belonging to a company and managed by a fund manager, it means you cannot control the trade of stocks. Also, you cannot decide to exit from some of the stocks that are in the portfolio. As explained earlier, with mutual funds, an investor is not involved directly in the management of a portfolio except when it’s the time to choose the fund. This is the reason why it makes sense for new investors to opt for mutual funds, especially those who know little about the stock market. Direct investment in shares needs a good knowledge of the company's performances and the stock market. No doubt, it’s a hands-on activity that needs quick market decisions and is suitable for experienced stock traders. Read Also: Why Off-Plan Investment Is Beneficial For Expats Mistakes that Expats Make when they Move Overseas 6 Steps to make Your Trade Show a Success
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How To Cope Up With Debt For New Residents In Canada
For new residents in Canada, it is not unusual to incur debt. Moving and settling in a new country often involves a lot of money, after all. If you are not careful, you will find yourself coping with unmanageable dues, dealing with bouncing checks, and avoiding calls from collection agencies. There is no absolute way to get rid of debts altogether, but with proper planning and execution, you will be able to get your finances back on track. Freeing Up Money To Reduce Debt The first thing to do to take control of your debts is to free up some money. This will involve creating a spending plan, paying your debts consistently, and tracking your progress. With a spending plan, you will be able to determine how much money you can work with. Start by summing your monthly expenses and removing them from your income. The money left over is the money you will use to pay down your debt. If you are spending more than you earn and have no spare money, you need to review your spending habits and determine which ones you have to cut down. Sitting down with a budgeting expert may be advantageous. One way to reduce spending is by not using credit, at least until you have paid off your debt. This includes your overdraft. If you have to use it, you must treat it like a bill that you need to settle. Another way to free up money is by spending less than you plan to spend. Many people get into debt because they buy things they cannot afford. Follow a simple rule – if you do not have money, do not purchase it. If you can be gratified with less than what you usually want, you can use the cash you saved and pay down your debt. Eventually, you will have adjusted to your new setup and learn to put away money for other financial priorities. Tracking your spending and identifying which areas to cut back from also helps. You need to exercise honesty in doing this, otherwise, it will not work. Many people end up being surprised by how much they actually spend daily. Once you have mapped out your spending habits, it will be easy to pinpoint areas where you can cut back. The next step will be to allocate the money you found and settle your debts. Using Funds Strategically To Eliminate Debt Once you have freed up money, you can use it to pay down your debts. There are different ways to do it strategically. New residents in Canada typically apply for a mortgage to be able to afford a home. Banks and lending institutions require a minimum of 35% down payment, paid in cash, with a maximum of 65% of the value of the home provided as a mortgage. Monthly payments will be based on the mortgage option they will choose. In paying a mortgage, a bi-weekly payment may be better than a monthly option to accelerate the process. It may seem like you are paying the same amount of mortgage, but you are actually settling your debt faster by including an equivalent of one extra payment annually. This way, you will be able to pay everything off several years earlier. For more information about the mortgage, visit this page: https://alpinecredits.ca/home-equity-line-of-credit-vs-mortgage/ Another smart way to settle your debt is by paying as much extra as you can afford. With a minimum credit card payment per month, it will take a long time to pay off the balance. Meanwhile, some borrowers choose to settle their most expensive debts first, then work their way to the least. In this snowball method, you will be focusing all your extra payments on the debt with the biggest rate, while making minimum payments on all the others. First, arrange your debts in the order of their interest rates. Then, pick the one that is charging you the most and prioritize it. Once your most expensive debt is settled, use all the money you were reserving and allocate it to the next highest loan. Continue this scheme until you are left with the least expensive debt to pay down. Many attest to this strategy as very effective in getting out of debt quickly. If your debts are becoming too unmanageable and you are really struggling with your financial obligations, it may be time to start speaking with a credit counselor. Credit counselors are experts in helping people assess their situation and eventually put together a working plan to set their finances back on track. They will also negotiate with your creditors to explore your options. Credit counseling is a legal process that is usually for free or at a very low cost. Other Ways To Cope-Up With Debt Having your own vehicle when living in Canada is useful as there are places where public transport is limited. When buying, it is better to choose a quality used car rather than a new one. You can go to a local library or read reviews online to see your options. Meanwhile, if you do choose to buy a new car, pick one with good fuel economy. By keeping it for 15 years, you can stretch your dollars and have plenty of time to save for another vehicle. Reducing your grocery bills also helps. Watch out for sales then stockpile your cupboard with non-perishable items like canned goods, rice, and cereals. Freeze bread and meat properly. Live off your stocks and skip doing groceries every month. This way, you can save up to 25% of your annual bill. If this is not manageable, try skipping once every other month. You can still save a good amount of money. Finally, if you want, you can get a second job or pick up additional shifts to earn extra money. For this to work, you have to consistently allot all your extra income to pay your debts. This does not always suite everyone, but if you can do it, you will find yourself free of debt faster. You also do not need to work extra shifts forever, just until all your debts are paid off. After that, you can consider scaling back again. More Resources: How to Eliminate Hassles of Outstation Travels The Five Most Important Things to Know Before Moving How to Save Time During Your Workday?
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Support As A Service For Your Company: Full Guidance And Useful Tips
Customer support is a powerful thing that can help your business to grow. Customers pay attention to how quickly and effectively you respond to their requests and what information you provide. For example, according to McKinsey, 70% of customers measure their experience based on customer service level. If the company is not ready to provide good customer service, it’s better to find other solutions than to lose customers. And one of these solutions is called support as a service. Support as a service: what is it Briefly, it means outsourcing customer support functions. Let’s imagine that you are managing a middle-sized company and are going to organize customer support. What options do you have? At least two. First, you may build a customer support department inside the company. Second, you may hire an outsourced customer service responsible for clients’ communications and requests. What choice is better? You may pick up any of these options considering available financial, human, physical, and other resources. Let’s compare the main pros and cons of both decisions. An in-house customer support department- Pros: The customer support team is fully involved in all processes. You hire every team member. You may manage everything on your own. The success of your external communications with the customers is in your own hands. Cons: It’s pretty expensive (needed equipment and installation may cost thousands of dollars). You pay customer agents for the whole working day and not for the number of calls. You are not flexible and can’t change the whole customer department in case something doesn’t work. An outsourced customer support team- Pros: You may choose from a variety of different providers unless you find an appropriate one. You may influence all processes that take place inside an outsourced team. You should not think about any technical aspects of customer support. You pay only for the delivered service. You free up a lot of resources inside the company and use them for more critical tasks. Your customer service team may speak different languages. Cons: It’s possible to get poor service because not all providers guarantee good quality. Sometimes you may experience issues, misunderstandings, and mistakes. Your customers may not be satisfied. Related Reads: Making Sure You’re SOX Compliant Support as a service: who uses it During the last five years, support as a service became widespread among different businesses. This model has a lot in common with another approach called SaaS (software as a service) or providing cloud software solutions on demand. Support as a service is popular in: E-commerce: People like shopping online (especially now, during pandemic times). They also want to choose goods on the weekend or late in the evening after work. So, customer support has to be ready to provide customers with the required information at any time. In these circumstances, an outsourced customer support team is the best option for businesses. Tech and finance business: Hiring a customer support agent with the relevant tech or software experience may last for several months. It’s a lot, taking into account that the company loses money during this time. Professional support as a service provider knows how to find required team members fast and effectively. Season businesses: Before Christmas or summer months, some companies experience an increasing number of customers’ requests. As a result, their internal customer support departments cannot handle all questions and answer them quickly. An outsourced customer support team on demand may solve this issue and take over part of requests only for a limited time. Available services- Another essential question is what exact services an outsourced customer support team may provide. In general, all normal functions of customer support. Calls: According to Zendesk, more than 50% of customers prefer to use phones for communication with the brands. That means that voice customer support plays a significant role in building a positive customer experience. Emails: Letters are an excellent alternative to calls. They allow sharing more detailed information with customers. But for better results and effectiveness, you should establish special rules on how soon customer agents have to answer letters, tone of voice to use, etc. Live Chats: If your company works with millennials and young generations, think of using modern communication tools like live chat or messengers. According to Statista, live chat has growing popularity in almost all industries. Support as a service: how to start Here is a checklist of everything you need to do to start collaborating with an outsourced customer support company. Read Also: How Customer Success Can Help Grow Your Business Key Marketing Tips To Gain More Customers For Your Health Care Practice 4 Simple And Cheap Methods To Attract More Customers
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Insurance Business: What Startups Need To Know
The insurance business can be confidently classified as complex. It requires serious financial investments and good knowledge of the insurance industry, and the constantly growing competition does not allow you to relax. But, taking into account the fact that the demand for insurance services is only increasing, it is promising and profitable to engage in such business. In this article, we are going to tell what a new insurance company should pay attention to. Staff: Surely experienced and professional management is essential for a company. But the main driving force in this business is insurance agents. It is they who bring clients to your company, who bring profit. You may hire juniors (if they have the necessary skills and hold promise to become professionals), but at the very beginning of the work, it is very considerable to get at least a few experienced employees. It is not so easy as it may seem at the first glance because good insurance agents have always been and will be worth their weight in gold. You can only entice them from other companies by offering more favorable terms of cooperation. Office: If you are going to work in a megapolis, then you should ideally open at least one office in each part of the city. To create the image and recognition of the company, it is better to adhere to the developed corporate style in the interior design and uniforms of employees in all offices. If you know for sure that you will not be satisfied with what has already been achieved, do not forget to take care of your company's headquarters. Promotion: Like any business, the insurance business needs a constant flow of potential customers. An advertising campaign must be directed to a specific target audience. Presentations should be held permanently in places with high people traffic. First of all, you need to understand your potential clients. Study their motives, income, determine which insurance products they need in the first place. Personal contact: The basis for success in the insurance business is personal contact with the client. Therefore, the personal qualities of insurance agents come first. Sociability, communication skills, excellent knowledge of insurance products, the presentable appearance of specialists are the foundation for success. The means of sales technology, work with objections, and knowledge of the elements of psychology are a must for an insurance staff. Website: It is needful to make a good website with a user-friendly interface where you will place the products of the insurance agency. Social media promotion can also significantly increase your customer base. Social networks: It is necessary to post articles on social networks that describe both the benefits of the insurance products you sell and cases that show how insurance has helped people in difficult situations. Contextual advertising: Contextual advertising will also work well if it is correctly targeted to the desired type of customers and region. A catchy signboard and office in a high traffic area will attract customers to simple packages. More than 80% of information about the agency should be of an image nature and aimed at creating a positive attitude of your insurance services' buyers. Taking into account the specifics of the business, you need to try to make your advertising memorable. In the end: At first, you can attract clients with more favorable insurance terms. Emphasis can be placed on a wide variety of provided services. Do not forget to take care of the convenience of your employees as well, and install a program that will perform part of the work for you and automate many operations. To do this, just contact one of the insurance software development companies. All types of insurance are enshrined in law in each country. In fact, you can insure anything you want if it falls under one of the existing types of insurance. In addition, you shouldn't skimp on insurance agents. Such specialists need to be interested in a high level of earnings, growth prospects, and bonuses. Read Also: 6 Things You Should Know Before Starting A Business 7 important advise for start-ups and entrepreneurs Creative Marketing Strategies to Put Your Small Translation Business 6 Signs Of Poor Management That Can Lead To Loss in 2021
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5 Tips for Creating a Successful Call to Action in Your Business Emails
Email marketing is an amazing digital marketing strategy to drive more sales and retain customers for a longer time. And every SEO reseller is using it in their strategy. It's among the most ROI-driven marketing practices that bring significant results when performed right. However, as we are moving towards a highly-digitized era where customers' inboxes are generally flooded with promotions, standing out becomes difficult. To entice your prospects to open your email and click on the CTA to take any action, you need to rethink how you have been performing it. You need to pay closer attention to details and improve it as your customers want to see them. In this article, we will have a look at the top five tips for creating a successful call to action in your email to drive maximum revenue. If you are just starting out, these tips will help you take the lead and grow your business. 1. Keep it real: For generating trust and improving the overall click-through rate, you need to keep everything real and not some sort of a gimmick or loaded with terms and conditions. Be very clear about what you are offering and what benefits the readers will get if they click on the button. For example, you can highlight text like there are no hidden charges, you pay what you see, and more like them. These types of text not only help you improve the call to action but also help you gain trust faster among your customers. This thing applies to every section of the email — be it the subject line, body text, or the main CTA, there should not be any misleading clickbait that will increase the bounce rate or unsubscribe rate. 2. Short and active: Ask your copywriter to draft every email in the active voice with very short and crisp sentences. It makes no sense in writing long lines or paragraphs and it has the main reason behind it. Many people check their emails on the go from their smartphones and if the email is lengthy, they might skip it save it to read later. However, as an average user receives a lot of emails a day, the probability of opening back the email is very low. That's why you should keep the email text as simple, and short as possible. However, make sure it's conveying the entire message that you want to present to the readers. You can keep the email body text within 100 - 150 words as it's easier to read and incite users to take the desired action. 3. FOMO works: Creating a sense of urgency using the fear of missing out technique works if you implement it correctly. No one wants to miss out on great deals especially when they need that product or services. You need to make your audience feel they will miss out on something really great if they don't take action right now. You can specify in bold text that it's a time-sensitive offer only or you can run a counter on the landing page. This technique will bring a higher CTR and will make your call to action more prompt and active participation. You will find a lot of free FOMO templates for creating your copy more exciting and click-worthy. 4. Use the right colors: This trick sounds ordinary but it brings extraordinary returns and improves the overall call to action of your business email. Pick the colors that reflect your brand and don't change the color theme frequently. Your readers should register a common theme so that when they will open your email, it will remind them of your brand. Apart from colors, don't overdo animations as they might load slower on some devices due to any reason. Keep the color scheme simple, attractive, and clutter-free. You can use email marketing tools and pick any premade campaigns if you are not into designing them. 5. Creativity: Smart creativity is the key when it comes to a successful call to action in your business emails. Be creative because you need to stand apart from the rest and attract your busy readers' attraction in a limited time span. You need to understand the fact that people's attention span is very limited and you need to make every aspect click-worthy without getting spammy. Instead of using a free stock image, ask your graphics team to create bespoke images that can match your custom offer and improve the CTA. Follow these simple steps for creating a successful call to action and drive more sales to your business. Email marketing is not hard and it can drive substantial results to your business strategies. If you are not into emails, it's the right time to get started and drive additional traffic and revenue to your business. Keep experimenting with different formats to check which works best for you. Read Also: Online Marketing: Selling Your Product And Services How to Integrate Email Marketing With SEO 3 Easy Ways to Grow Your Email List Best Way To Earn Passive Income In 2020: Email Marketing
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Canada Is the First Country to Allow Trading BTC on Its Stock Exchanges
Bitcoin has officially been introduced at the traditional stock exchange. The first country to make this significant move was Canada. Before that, the only way to buy and sell BTC was by using a digital currency stock exchange, which is still the most popular way to trade Bitcoin and other cryptocurrencies. The Great White North officials authorized a Bitcoin fund that was immediately introduced to the stock market. This event will pave the way for many investors to access the popular cryptocurrency and try to make a profit with its help. The Bitcoin index fund was proposed by a company called Purpose Investments. The Toronto Stock Exchange approved the start of the fund on February 18. As announced by the spokesperson from the Ontario Securities Commission, the fund uses the acronym BTCC. The role of the fund’s administrator belongs to a Canadian company called CIBC Mellon Global Securities Company. The sub-custodian is the Gemini Trust Company. There are no similar traded Bitcoin funds anywhere in the world. It means that Canadian stock traders could start a trend where many other stock exchanges will introduce a cryptocurrency-backed fund. Purpose Investments issued an official press release declaring that the fund was the first in the world to be physically settled in BTC and not derivatives. It means investors will access cryptocurrencies conveniently without self-custody risks and all associated dangers that digital cryptocurrency wallets bring. The main risk brought by digital wallets is the usage of keys. A private key is the only thing that allows you access to your cryptocurrencies. This key is like a password, but it’s irretrievable, meaning your Bitcoin storage will be lost forever if you forget the key. For instance, if you lose your Facebook password, you can always send a request to change it. The platform, being a centralized entity, will grant you that request. Unfortunately, that option isn’t available when it comes to digital wallets, meaning a lost key is gone forever. Many people don’t feel confident about this arrangement and believe handling your own keys brings a certain risk. That is why an exchange-traded fund seems like a better option at the moment. In other words, being in charge of your own fortune requires having a high level of responsibility and keeping your private keys safe and secure. Bitcoin Reaches New Heights: When Bitcoin was introduced to the world in 2009, it was worth almost nothing. You could buy hundreds of Bitcoins for a couple of dollars. The first time that the cryptocurrency peaked was in December 2017, when the price reached almost $20K. After that, the price started going down, with many pessimists predicting the ultimate fall of BTC. However, there was no reason to worry. After a somewhat quiet period in 2018, when the BTC rate reached as low as $3,500, a slight bump happened when the price increased to more than $10k in 2019. Then, the Covid-19 pandemic started, and people started looking for a way to store their wealth. At that moment, Bitcoin turned out to be one of the most lucrative solutions. Therefore, they joined a stock exchange cryptocurrency and started massively buying BTC. The price first reached around $30K, and it is currently being traded at about $45K. This was a reason good enough for many people to consider buying “digital gold.” Another reason why this cryptocurrency increased in value was the fact that big companies started investing in it heavily. For example, Tesla invested approximately $1.5 billion in bitcoin, and many smaller investors followed its steps. What About Other Cryptocurrencies? So far, Bitcoin has been the most popular cryptocurrency, traveling the longest distance on the road to widespread adoption. However, it’s definitely not the only crypto out there, as many other altcoins are pretenders to BTC’s trone. Some of them might even get a similar treatment by traditional stock exchanges. The most likely candidate for that is Ethereum, a cryptocurrency supporting the Ethereum platform. Besides Ethereum, Bitcoin Cash is doing a pretty good job, as well as Tether, Binance Coin, Ripple, Litecoin, and more. Final Thoughts: The introduction of Bitcoin to the traditional stock exchange gives Canadian investors more room to access the cryptocurrency. They’ll be the first ones to test how that works and whether one can make a profit by investing in the Bitcoin ETF. If all goes well, we could expect other exchanges to do the same. All eyes are now on the Wall Street exchange, which is expected to copy the homework from the Canadian stock exchange. Will there be additional Bitcoin funds used by investors to trade on stock exchanges around the globe? At this moment, everything seems possible. Read Also: Exciting Facts About Cryptocurrency And Crypto Wallets How to Buy Bitcoin From Norway HybridBlock: Why Binance Is Investing In Crypto-Fiat Trading Everything You Must Know About Bitcoin Circuit: Legal or Scam
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Commercial Construction After COVID-19: How Developers Can Adapt
The COVID-19 pandemic has disrupted the construction industry heavily. With people focusing on social distancing measures and businesses going online to cater to their customers, the commercial sector took a hit. The pandemic fuelled a boom in e-commerce has increased the demand for retail spaces, while many office spaces were left vacant. Fortunately, some companies have been taking up strategies that can benefit the commercial construction sector greatly. Speaking of adapting, the commercial real estate sector can focus on strategies like adaptive reuse. Apart from this, developers can also focus on creating spaces that are safe from COVID-19. When both these strategies are combined, the developers can repurpose vacant spaces into structures that are higher in demand and also ensure the indoor spaces are safe from the novel virus. Over the last few months, plenty of safety measures and precautions have been provided by organizations like ASHRAE and the CDC. The IWBI created the WELL Health Safety standard by providing scientifically proven measures for fighting against infectious diseases including COVID-19. Creating Safer Indoor Spaces: After a lot of research on the transmission of the coronavirus, extremely important evidence came into the picture that COVID-19 transmission can be airborne, especially in poorly ventilated indoor spaces. Therefore, creating safer than ever indoor spaces should be a top priority for developers. ASHRAE released a detailed guide for building owners on measures for promoting a safe indoor environment. The recommendations can be summarized in 3 main areas: Increasing outdoor air ventilation as much as possible, while minimizing indoor air recirculation. Upgrading the air filters to MERV rating 13 or higher. Installing Ultraviolet Germicidal Irradiation (UVGI) system for killing harmful airborne viruses and bacteria. Depending on the building conditions, the applications of the above-mentioned measures may vary but the main principle of ventilation, filtering, and purification still holds. Apart from new construction, they can also be implemented for existing buildings and in renovation projects as well for improving the indoor air quality. It is highly recommended to consult professionals that can identify the optimal measures for all building types. The IWBI came up with a list of 22 effective measures against COVID-19, and building owners can obtain the WELL Health Safety Seal by implementing at least 15 measures that are subject to verification. Mixed-Use Projects: A Viable Option While many companies are struggling with low occupancy in commercial buildings, the demand for housing is on the rise. A mixed-use project can not only provide housing spaces but also offer spaces for commercial use as well at the same time. Some of the interesting benefits observe are that in a mixed-use building, the occupied residential spaces will require services that can be easily accessible and provided from the commercial spaces in the same building. Also, business owners are drawn to such buildings as their potential customers are already there. Professionals working from home are also attracted to mixed-use developments as it offers various services within walking distance. Apart from this, mixed-use projects are highly beneficial for entrepreneurs planning to open a franchise, since they can have immediate access to a large number of potential customers. Repurposing Vacant Buildings with Adaptive Reuse: As mentioned earlier, some types of commercial buildings, like warehouses, are rising in demand, while some are seeing high vacancies. Adaptive reuse can be an excellent strategy for such building owners as the vacant buildings can be repurposed into structures like apartments, which are always in high demand. Work from home, implemented as a social distancing measure to fight against the spread of COVID-19 transmission, is now becoming a permanent solution for many companies. This led to less use of office space, which resulted in vacant office spaces and buildings. Repurposing such buildings is a viable strategy for office building owners. Conclusion: The commercial real estate sector was highly disrupted in the pandemic as the demand for some buildings increased greatly, while the others are now facing imminent vacancy. For staying competitive, developers implement the strategies mentioned above. Read Also: Commercial and Residential Construction: Key Differences Lifting and Rigging Equipment—Your Hardware Guide 3 New Age Engineering & Construction Technology All You Must Know About Construction Business Management Software
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