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You are here: Home / 2020 / Archives for February 2020

Archives for February 2020

Top Tips for Starting an eCommerce Business – Ecommerce

February 28, 2020 by Asif Nazeer Leave a Comment


Photo by Charles Deluvio on Unsplash

The eCommerce industry is booming and predicted to grow over the coming years. Understandably, this makes it a popular industry to enter for entrepreneurs. There is potential for great success here. Many believe that this is a type of business that can be easy to set up and run. While setting it up is relatively easy, the industry is not easy to succeed in. The competition is incredible and with millions of sites, it is hard to get noticed. With this in mind, here are a few handy tips for starting an eCommerce business.

Sell Products in Demand and with a Theme

When starting an eCommerce business, you need to make sure that you are selling products that are in demand. Though your idea may be great, demand means sales. Additionally, you need to have a theme for your store so that you can identify a target customer. You should keep this target customer in mind with every decision that you make. A few types of stores worth considering include:

  • Health and fitness
  • Beauty
  • Fashion
  • Electronics
  • Motherhood

Make Sure You Design a High-Quality Store

Your eCommerce business will need to be of the highest quality in order to convert visitors. This means that it should be easy-to-use, responsive, attractive, and helpful, with clear product details and smooth checkout experience. Additionally, your site should be mobile-friendly. After all, many people now shop online on their mobile devices.

Increase Visibility with Digital Marketing

As mentioned, an eCommerce business is fiercely competitive, so it can be hard to stand out from the crowd and get noticed. Using digital marketing assistance from an experienced agency is vital. Their expertise can level the playing field and help to direct traffic to your store from the search engines. Search engines are the first stop for customers searching for products and services.

Streamline Your eCommerce Business with Warehouse Systems

Running a successful eCommerce business is challenging. Therefore, you will need to have a highly efficient system in place for handling warehouse operations. You can achieve this through the use of the best warehouse management systems. Such systems simplify the daily tasks in the warehouse to increase efficiency, reduce stress, and speed up the day-to-day processes.

Successful eCommerce Businesses Use Social Media Productively

Everyone knows the importance of having a presence on social media for their business. However, very few use this effectively. For eCommerce businesses, social media is an excellent platform for promoting your products, engaging with your target customers, and showing your expertise. Productive use includes:

RELATED CONTENT: ENSURE YOUR BUSINESS THRIVES THROUGHOUT THE 20’S

  • Creating and sharing engaging content for your target customers
  • Directing people to your store
  • Responding to messages and comments promptly and professionally
  • Using humor while avoiding offensive or divisive language
  • Growing your network by encouraging likes and follows

Of course, it is easy to see why so many entrepreneurial-minded people are entering the eCommerce industry. However, it is essential to be aware that success is not guaranteed. Competition can make success difficult to realize, but it’s not impossible. These tips should help you lay the foundation for success in your eCommerce business and attract customers early on.



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Get the Most out of Your Funds – Capital Sources

February 25, 2020 by Asif Nazeer Leave a Comment


Are you an entrepreneur who wants to expand your business? Want to branch out to a new but complementary business to your original company? Growing a business can be challenging and it also takes time. Thus, if you want to expand or branch out your business, you may need a little help financially. Small business loans may help close your funding gap.

Small Business Loans and You

There are many ways to acquire the finances that you need for business expansion. One way is taking money from investors. However, it would also mean that you are sharing your business with your investors. Some would see this as a good thing but some would see otherwise.

If you want to keep the ownership of your business, you might want to consider getting a small business loan. This is a viable plan if the expansion you are planning won’t be too big because according to this Kabbage review, the max loan amount is $150,000 only.

Although the amount might not be as big as you would like, this is a great first step in injecting growth into your business. You only have to maximize the amount and get the most out of it.

Here are some tips on how to get the most out of the small business loan:

Invest in New equipment with a Small Business Loan

Different businesses use different equipment to make their business run more efficiently and smoothly. Others use computers, some use heavy machinery, while some businesses need custom-made machinery fit for their business.

Whatever the case may be, it is worth it to invest in new equipment to grow your business further. If the equipment can make your products better or it can increase the production of your products, then you should go for it. So take out a loan to do so, if need be.

Making your products bigger and making it in a shorter period of time means you can sell more products. Thus, more sales and more profits.

Buy in Bulk

The best thing about having more money to expend is you can buy more materials in bulk for your inventory. Buying in bulk could mean that you can get materials at a cheaper price per piece compared to buying in small batches. A small business loan could give you this flexibility.

Buying in bulk can also save you in shipping costs and it can mean that you won’t need to order more often. This allows you to save more money and get more profit from a single transaction.

Use Your Loan for Marketing

Investing in a proper and well-defined marketing plan in place for your business is essential for growth. You are able to connect with customers and reach out to potential clients through marketing so it is worth using a loan to invest in that.

small business loans for marketing

These days, there are many ways marketing is done other than the traditional and expensive ones. Although they are effective in attracting customers and clients, it is also important to expand your marketing strategy to include social media, blogging, vlogging, creating your own website and other non-traditional marketing methods.

This is essential to keep up with the times and the changes in the client’s lifestyle. Obviously, with the use of the Internet becoming more prevalent and the fact that people use the Internet daily in their lives, this can be helpful in cultivating more followers and reaching more audiences that can be a potential client.

There are many companies that will be willing to lend their services to help you achieve these goals. You can also opt to hire or outsource these tasks to people who are experts in the field. Whatever is more beneficial and best for your company, it is your choice. To bring about these changes in your business, rely on a small business loan.

Small Business Loans to Help You Maximize Technology

There are many applications that are available in the market that can help you manage your business more effectively without using too many employee hours. These technologies are worth investing in because they help you save and make overseeing and managing your business easier. If need be, take out a small business loan so that you can do this.

RELATED CONTENT: CLOUDBOOKS WILL HELP YOUR SMALL BUSINESS GROW

There are different applications available for different company needs. For example, if you need a time management app to gauge your employees’ productivity, you can take advantage of team management apps available on the market. If you need help with payroll or finance management, there are a lot of apps for those, too.

Investing in these apps can be very beneficial for your company and you. You can make managing the company less stressful and more efficient and streamlined. You can also lessen the employee hours it takes to complete the mundane tasks and make it more automated.

Loans to Hire More Employees

To see growth in your company, you also need to hire more employees to prepare for growing demands and tasks that need to be addressed. More tasks and clients to entertain means more man-hours needed to get the job done.

Hiring employees to work in the office can be necessary for particular positions. They may cost you more but that is an investment that is worth it. However, you may also need to hire employees to do important but repetitive tasks. And sometimes, these jobs are better off given to outsourcing employees.

Outsourcing can be a better option since you can save in terms of salary and taxes that you need to pay. Outsourcing the job to people from different countries like the Philippines and India saves you more because their basic salary is much lower compared to European or North American countries.

small business loans - hire new employees

There are many websites that connect skilled and knowledgeable individuals to companies that outsource these types of jobs. Examples of these websites are onlinejobs.ph, Upwork, Freelancer and more.

Get a Better Office

Any entrepreneur knows that part of getting more clients is maintaining an image of integrity, professionalism, and dependability. And part of showing that image is through the office that your business establishment occupies.

Imagine telling a client that your office is actually a garage of your mother’s house. What image would your client then have of your company? Or imagine showing your client a cramped and messy office. Do you think that would encourage trust from your client toward your company?

RELATED CONTENT: OPENING YOUR OWN OFFICE: 5 CONSIDERATIONS

Of course, businesses start small and even some of the biggest companies start in the dorm or at their parents’ garage. However, to expand your business, you also have to improve the image of your company and get a better space for your employees. A loan could help you rent or lease an office space that allows them to work comfortably and efficiently.

Conclusion

Although you might end up with a smaller amount than you would like to supplement and expand your business, you can still do a lot with the money you obtain from a small business loan. You only have to plan and prioritize what you want to spend the money on to get the most of the small business loan you have received.



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How to Stay Focused – Home Based Business

February 24, 2020 by Asif Nazeer Leave a Comment


For most people, working from home is a total dream. You get to chill out in your pajamas and set your own work hours. Plus, your coworkers consist of your cat or dog. The quiet and peace of your home might provide you with the opportunity to finally achieve the productivity levels you’ve always worked toward but could never truly achieve.

RELATED ARTICLE: STARTING A HOME-BASED BUSINESS MAY BE YOUR BEST IDEA EVER

However, working from home can also mean you get distracted more often. That’s why we’ve assembled a list of tips and tricks to keep you motivated and productive.

1. Equip Your Office Properly for Working from Home

One of the easiest ways to make sure that you’re productive when you’re working from home is to equip your office with the right tools. First, you’ll need a large desk to spread out and get organized. If you choose a desk that’s too small, you’ll feel cramped and unproductive. You may even want to consider a sit-stand converter that allows you to switch between sitting and standing throughout the day.

RELATED ARTICLE: BRIGHTEN YOUR BUSINESS WITH NEW OFFICE FURNITURE

You’ll also want to invest in an ergonomic chair that promotes a healthy posture while you’re working from home. Make sure the chair you choose has arm rests and lumbar support.

Finally, you will need to decide on what kind of computer you want for your home office-based business. For example, 2-in-1 laptops offer flexibility, while traditional desktops offer better upgrade options. The choice that’s right for you depends on your work priorities and needs.

2. Change Out of Those PJs

One of the best ways to get yourself ready for a productive day of working from home is by actually putting yourself in the mindset of doing work. So don’t just roll out of bed and drag yourself to your desk. Instead, change out of your PJs into something that helps get you into the right head space to be productive.

RELATED ARTICLE: 10 COOL DESK ACCESSORIES TO BOOST YOUR PRODUCTIVITY

However, you don’t have to put on dress pants or wear a suit. You can just put on some yoga pants. You should be comfortable, but if necessary, you could walk outside in your outfit and not look totally out of place.

3. Stay off Social Media and Stop Looking at Your Phone

Social media is a serious attention trap.
One second you’re scrolling through Instagram and then suddenly, twenty minutes
of your day is gone. If you want to avoid these kinds of apps interrupting your
concentration, consider using an app dedicated to focus.

Here are a couple of apps you can use if
you need a place to start:

  • Brain.fm: If you tend to get distracted by music that’s too stimulating, you will love brain.fm. This app gives users functional music that actually helps you stay focused throughout the day when you’re working from home.
  • Pomodoro technique: This technique is a method used to focus your productivity in 25-minute spurts called “pomodoros.” After every pomodoro, you get a 5-minute break. After four pomodoros, you get a break of 20 minutes.

4. Take Breaks to Exercise When You’re Working from Home

If you’re feeling burned out and
unproductive, you can change up your mindset with exercise. Exercise gets your
blood pumping. If you have a favorite class at the gym, sign up for it every day
at the same time so it becomes an ingrained routine. Exercise is great way to
take a productive break that can help you feel refreshed when you come back to
work.

5. Don’t Do Household
Chores During the Day

When you’re working from home, it’s easy to get distracted by laundry and other necessary household activities. If you want to avoid cleaning on days you work remotely, make sure you spend an hour or two tidying up during the weekend.

Moreover, a clutter-free work space will make your work-from-home life a lot more pleasant in the following week—and much less distracting.

RELATED ARTICLE: WORKING REMOTELY OFFERS OPPORTUNITIES YOU MIGHT NEVER HAVE IMAGINED

Conclusion

Working from home is awesome. However, it has some pitfalls you will need to prepare for. If you get distracted easily and find yourself failing to get work done, you might even want to consider going to a coworking space.

However, if you’re stuck at home, give yourself the best chance of success by setting up an amazing work space dedicated to getting your to-do list done—and maybe even a little more.

Then, with these tips in mind, you can experience the success you’ve been dreaming about.



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Benefits of Hiring the Perfect Location – Ideas

February 24, 2020 by Asif Nazeer Leave a Comment


There are plenty of reasons for organizing or running an event. However, not all events warrant hiring a venue. In contrast, some types of events really work best when an organizer hires an event venue, such as:

  • Birthday celebrations
  • Business meetings
  • Wedding receptions
  • Conferences
  • Local productions such as dance and drama

So let’s take a look at some of the main benefits of hiring an event venue.

More Space

When organizing an event of any kind it’s unlikely that you’ll have enough space in your home or office to fit all of your family and friends (or staff). Whether it’s a personal event for enjoyment or a more corporate event for business purposes, space makes all the difference toward success.

RELATED CONTENT: HOW TO ORGANIZE A SUCCESSFUL CORPORATE EVENT

Hiring an event venue such as the Midlands Arts Centre in Birmingham is the perfect way to ensure that there is enough space for everybody. This means there’s no need for anybody to miss out.

Less Distracting Environment

Typically when organizing a function or event, it will have a core purpose. Also, you would like the purpose to be the focus of people’s attention. Hiring an event venue for your event will provide you with a space that is distraction-free. You can even choose to arrange or decorate the space in a way that helps keep attendees’ focus on the purpose of that event.

An environment devoted to your purpose increases the event’s success and memorability; be it the birthday girl at a sweet 16th or the guest speaker at a business function. 

Event Venue Catering Options

One of the best and often overlooked reasons for hiring a venue for your event is the expansive catering options that could be available.

Of course, the purpose of your event should predominantly be to either achieve a goal or celebrate an occasion. All the same, people always expect the event organizer to put on a good spread. To this end, hiring an event venue often gives you a much wider variety when it comes to the food and drinks you can offer at your event.

For example, hosting your event at an Italian restaurant and wine bar would be a great idea if you were looking to provide attendees with pizza and wine (lucky them)!

Event Venue Location

Location, location, location. An individual’s willingness to attend an event is often determined by the location at which the event is held. Hiring an event venue helps make your event that much more appealing to people.

Organizing an event at a location other than your home or office allows much more flexibility when it comes to location. This flexibility can allow you to set the location of the event so that travel is more convenient for the people you wish to attend. For example, if you were holding a business conference for the West Midlands department of a large company, hiring a venue in Birmingham would be ideal.

To conclude, there are a variety of reasons to hire an event venue. The main benefits include a more spacious area and a less distracting environment. Additionally, you’ll enjoy more flexibility when it comes to location, along with improved catering options.



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Filed Under: Biz Opportunities

Keeping Records of CRM Pipeline Sales Leads to Success – Business

February 22, 2020 by Asif Nazeer Leave a Comment


Photo by You X Ventures on Unsplash

Keeping good records of CRM pipeline sales and learning to analyze those records can reveal surprising details about how best to run your business.

CRM is an acronym for “customer relationship management.” The term “pipeline sales” refers where your customers are in the buying process. What do CRM and pipeline sales have in common? And how can you use these tools to learn more about your business? Keep reading to find out.

RELATED ARTICLE: STREAMLINING BUSINESS PROCESSES FOR SUCCESS

Make Full Use of Both Your CRM and Your Pipeline

Your company’s CRM is the lifeblood of your business. This is because your profits are driven by customer purchases. Moreover, taking full advantage of the combined elements of your CRM and good record-keeping of your sales pipeline will translate into success for your business.

What is the Difference Between a Sales Funnel and a Sales Pipeline?

The sales pipeline differs slightly from the sales funnel. This is because the sales funnel is about leads, and the sales pipeline is about sales.

The funnel is wide at the top to capture an infinite number of prospects. As the potential for sales increases, the funnel narrows toward the bottom, separating potential customers from actual customers. The desired outcomes of both the sales funnel and the sales pipeline are greater profits and happier customers.

Let’s look at seven reasons why maintaining good CRM pipeline sales records will benefit you.

Good Record-Keeping Will Help You Identify Threats and Opportunities

With a systematic record-keeping process, you remain continuously updated about the status of your CRM pipeline. Moreover, using an efficient system to move prospects through the sales funnel in an integrated process enables you to mitigate risks and harness opportunities at every step of the way.

Reducing threats means knowing how to discourage progressive movement through the sales funnel. Leveraging opportunities translates into encouraging upward movement of prospects through the sales pipeline.

Learn Your Company’s Strengths and Weaknesses by Observing CRM Pipeline Sales

You can gain a good understanding of your company’s strengths and weaknesses by learning to analyze the records of your CRM pipeline sales. It’s best to do this by recording your sales funnel records.

This is because funnel records show conversion rates at each point. This will provide greater clarity about the improvements you need to make to your sales and marketing efforts. Then, you’ll know where your staff needs more training. Obviously, more training in weak areas will become key to making system improvements.

Set Goals and Achieve Them by Observing CRM Pipeline Sales

You’ll be better able to set effective goals when you understand more about where you need additional sales team training.

Naturally, you will then rely on precise record-keeping to adjust those goals as well as your sales strategies. This will lead to more successful conversions.

Develop Your Goal-Setting Skills

You want to slow or stop prospect movement toward the top of your funnel at each point. This is because you don’t want leads to leave your sales funnel but to continue downward toward the narrow end of the funnel. In other words, you want leads to progress toward sales, not toward leaving your funnel altogether.

Therefore, you need to learn more about your overall CRM sales pipeline. Additionally, you want to hone your goal-setting skills at each step. These new skills will correspondingly drive conversion rates throughout your sales pipeline. One point at which you have the best chance of achieving this goal is at first contact.

Good Record-Keeping of CRM Pipeline Sales Will Improve Company Response Times

Researchers write in the Harvard Business Review about a study that illustrates the importance of shortening lead response times.

Their research showed that companies who responded to leads within one hour were seven times more likely to achieve successful movement through the sales funnel than those who contacted the customer in the second hour.

Even more surprisingly, initial contacts made in the first hour were 60 times more successful than those made after 24 hours.

Always Remember That Prospects Are People Who Can Become Customers

Additionally, the Harvard study underscores the fact that people are social creatures. They appreciate personalized services and interactions. They also value rapid response times.

Therefore, the right technical systems and CRM record-keeping software will make all the difference to your sales and profits.

However, along with all this technical savvy, your business success also depends on how well you build your relationships with your customers. You can gain the knowledge you need by choosing an effective CRM sales pipeline record-keeping system. On the other hand, though, the effective building of human relations will require continual staff training.

Employ Enhanced CRM with Advanced VoIP

Using the advanced functionality of an innovative VoIP system as your record-keeping software will further enhance your CRM. This is because an advanced VoIP system will give you online website chat capabilities, surveys, SMS functionality, and video conferencing. This includes both inbound and outbound CRM support.

Additionally, the leads from this VoIP system will all be captured in your sales pipeline. This will enable better sales tracking and a shortened sales cycle timeline. Then your staff will have more time to make sales. In short, your company will enjoy more productivity, improved customer response times, and greater customer satisfaction.

A CRM Sales Pipeline Translates into Free Marketing and More Sales

The CRM sales pipeline differs between companies, but typically ranges between four to eight stages in the customer’s buying process. This range begins with an ocean of potential prospects who are simply looking for something to purchase, and ends with successful sales to happy customers.

Happy customers are open to upselling, which happens when employees are able to persuade the customer to purchase a more expensive product, or an additional one.

What’s more, happy customers refer friends and family to your business, promoting additional sales and profits.

Satisfied customers often write positive testimonials about your business. These testimonials can persuade others of the value customers received from your company. Pleased customers can even become fans who voluntarily promote your business and products, creating another free marketing channel.

Key Takeaways

  • CRM systems translate into accurate records that highlight the sales status.
  • Record keeping supports the identification of strengths, weaknesses, opportunities, and threats.
  • Understanding and analyzing your records empowers goal creation and achievement.
  • Training fills in the gaps, allowing for improved response times, people management, and forecasting.

Conduct research to determine the CRM sales pipeline software that works best for you. Purchasing the right product for your business will result in improved business systems, well-trained employees, greater conversions, happier customers, and a sustainable, successful business.



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10 Tips to Help You Better Understand Your Small Business Customers

February 22, 2020 by Asif Nazeer Leave a Comment


Understanding Your Customers

Creating an effective marketing strategy requires having a strong understanding of your target customers. You need to understand the platforms they use, the messages that will resonate with them, and how they feel about your business. To increase your understanding, here are some tips from members of the online small business community.

Create a Facebook Marketing Plan That Models the Customer Journey

If you want to connect with customers on Facebook, you need to do it in a way that makes sense in their journey. Understanding where your customers are in the buying cycle and creating content around that can help you create an effective Facebook marketing strategy. Learn more in this Social Media Examiner post by Jessica Campos.

Make Sense of Customer Sentiment Analysis

Figuring out how customers feel about your business can help you better shape your strategies moving forward. As you measure customer sentiment, deciphering what the results mean can sometimes be tricky. But the tips in this Target Marketing post by Rohan Ayyar can help.

Create Winning Audience Personas

In order to really market directly to your customers, it helps to have personas in mind as you make decisions. If you’re ready to take a deep dive into who your customers are, read this DIY Marketers post by Jennifer Clare Ball for some tips and explanation.

Use a Fabulous Content Management System

As you’re creating content that’s tailored to your specific audience, you need to keep it organized and optimized. A solid content management system can help you do just that, as Lisa Sicard details in this Inspire to Thrive post. You can also see commentary over in the BizSugar community.

Increase Your Business Profits

Ultimately, the goal of understanding your customers better is to bring in more business and eventually make more money. But there are also other tactics you can use to increase profits. Ivan Widjaya offers several tips for doing just that in this Noobpreneur post.

Make Smarter Martech Investments

When you truly understand your customers, you can invest only in the marketing platforms and strategies that are going to make a major impact with that specific group. In this Marketing Land post, James Moore shares tips to help you get the most out of your martech investments.

Create Authentic B2B Marketing

Both B2B and B2C businesses can benefit from some authenticity in their marketing. This can help customers feel more genuine connections with your business. In this TopRank Marketing post, Lane Ellis examines the power of authenticity when it comes to B2B marketing.

Learn How to Run Seasonal Marketing Campaigns

Throughout the year, various seasons and holiday likely influence your customers. As a result, your business might benefit from utilizing themed marketing campaigns. Get the most out of these initiatives. For example, check out the tips in this GetResponse post by Michal Leszczynski.

Write Effective Instagram Captions

To connect with customers on Instagram, you need to create captions that are designed to get results. So how do you achieve this? Tim Jakes elaborates in this Pixel Productions post. And BizSugar members commented on the post here.

Tell the Difference Between Trends and Fads in Digital Marketing

Trends pop up in the marketing industry all the time. As a result, you may find it beneficial to try new things. But other times, those trends fall away quickly. And they don’t make an actual impact on customers. To tell the difference, read the tips in this UpCity post by Lauren Snyder.

If you’d like to suggest your favorite small business content to be considered for an upcoming community roundup, please send your news tips to: sbtips@gmail.com.

Image: Depositphotos.com

This article, “10 Tips to Help You Better Understand Your Small Business Customers” was first published on Small Business Trends





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Filed Under: Strategy

Payday Loans in Singapore and Beyond – Capital Sources

February 22, 2020 by Asif Nazeer Leave a Comment


The future is uncertain, and sometimes things don’t turn out the way we want them to. Even in a multicultural and metropolitan destination like Singapore, an unexpected turn of events can cause trouble. Consider this:

A bonus promised next month makes you ecstatic and you start planning how to spend it. Since you have been putting off a much-needed holiday, the promise of the bonus means you finally get to take a break. Dates are marked off and schedules cleared. Travel is booked to lovely Singapore. The family is thrilled, and as the vacation nears . . . the bonus gets delayed a few weeks.

What would you do now? Shatter all your hopes? Shatter the hopes of your family? How can you make it work with such short notice? In short, it may be time to look into payday loans in Singapore and beyond.

What Are Payday Loans?

Borrowing money is often the only way forward when people get in a difficult spot financially. A personal loan is always our first choice. However, if you compare loans online, then you soon realize that getting approval from a personal loan lender requires too much time to meet an immediate need. Consequently, you are now in the market for a payday loan.

Payday loans help in an emergency. Such loans are authorized in a short time, from a few hours up to one or two days. Payday lenders anticipate an influx of funds to pay the loan off. For example, your paycheck. Loan amounts are small. Also, these lonas are issued for a short period of time.

RELATED CONTENT: WHY PAYDAY LOANS CAN HELP IN AN EMERGENCY

In a perfect situation, the borrower repays the amount from their next paycheck, ergo “payday” loan. For their fast approval of loans, check out A1 Credit. They usually charge a low interest rate. Their most distinguishing feature is their willingness to loan to people with a low credit score. As a result, this company is able to help people who have had trouble in the past but are attempting to turn things around.

Applying for a Payday Loan

Processing of a payday loan is different than that of traditional loans. The process is mostly online and begins with filling out an application. The lender will contact you almost instantly via telephone, then schedule a meeting to discuss your loan needs.

A payday lender approves and provides a loan in a matter of hours, rather than days. Usually, payday lenders require proof of identity, regular pay stub, and bank account information. Once your monthly income is verified, the lender will directly credit the funds to your bank account.

Before You Apply for a Loan in Singapore  

The most important thing you should do when considering a payday loan is to complete a thorough comparison of all the best payday lenders available. Here are a few steps to follow:

  • Contact each company and ask for quotes.
  • Review the payday loan lenders’ terms and conditions.
  • Verify that the moneylender is licensed. For more information, visit the Registry of Moneylenders on the Ministry of Law website of Singapore. 
  • Narrow your options to lenders most suited to your needs. 
  • Review feedback from family, friends, and online forums on each lender. Talk to a lender’s previous borrowers online to know more about their first-hand experience with the lender.  

  • Check for any complaints or frauds registered against them anywhere. This will help in screening out some of the not-so-good lenders.  
  • You must also pay attention to payday loan lender professionalism. Ethical conduct begins as soon as you contact the company. It is important to work with an ethical lender.  

Expectations of Borrowers

All lenders have qualifications they seek in a potential customer. Most of them would want you to be the following:

  • Between the age group of 21 to 64 years
  • Hold a permanent residency in Singapore
  • Have a stable job with an assured monthly paycheck
  • Hold a permanent work permit with a guaranteed salary

Wise Words to Heed

Always remember that lenders are in the business of making money. It is your responsibility to ensure that you make an educated decision. Before you borrow, consider these more advanced issues.

  • Interest Rates: Know the exact rate of interest you would need to pay. It must be an amount you can afford. Though payday loans are heavily charged, don’t go overboard.  
  • Loan Repayment: Talk openly on the repayment of the loan amount. Understand the closing aspect of the loan thoroughly to avoid any legal struggle at the end.  
  • Fees and Surcharges: Ask about any hidden fees such as closing costs. This helps you calculate the total effective cost you eventually have to pay.  

A payday loan is named as such because it is supposed to be repaid from your next paycheck. So always make sure that the loan amount is less than your salary. Ignoring this premise of the loan would amount to a financial blunder.  

Also, since the loan has to be covered from your next salary, do not mortgage any of your valuables. The unique feature of a payday loan is that it is provided without any collateral in exchange. If any moneylender ever asks for any guarantee, step back. You went in the wrong direction. That company is an unlicensed moneylender likely running an illegal business. Do not fall into that trap.  

A Final Note

Now, everything is done. You have double-checked all the terms and conditions, reviewed the lender and their legal status, and verified your responsibilities. As a result, you can go ahead and apply for the loan by filling out their form and furnishing all the relevant documents. If there’s any confusion with the paperwork, do not hesitate to consult a lawyer.  

Resorting to payday loans happens when people require hard cash almost instantly. Though you may be short on both time and patience, you must do the groundwork to find the most suited moneylender. Doing otherwise makes a perfect recipe for a financial mishap.

Research everything thoroughly and try to get a loan from a veteran moneylender who has been in the business for a long time. Those who just spring up may vanish even quicker. Stay informed and choose wisely.



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Ensure Your Business Thrives Throughout the 20’s – Technology

February 21, 2020 by Asif Nazeer Leave a Comment


It’s 2020 and a new decade has dawned. If you want this to be the decade in which you reach your full potential as the owner of a company, it’s imperative that you take heed of the advice below. Here’s what you must do to ensure that your business thrives throughout the course of the 20’s:

Make Use of the Cloud

The cloud went mainstream over a decade ago. If you haven’t embraced cloud computing, you’re going to struggle to keep up with the pace in your market in the coming years. Most businesses have not only moved their traditional business applications like email, data storage, and customer service to the cloud (or are currently in the midst of their migration), they’re building their new applications in the cloud as well.

RELATED CONTENT: CLOUDBOOKS WILL HELP YOUR SMALL BUSINESS GROW

There is now a whole ecosystem of cloud-native technologies that can help your business thrive. At the top of this list is the advent of containers and container orchestrators. The most popular container orchestrator is Kubernetes. These two technologies combine to usher in a new wave of cloud-native application development methodologies. As a result of their work, apps are smaller, yet just as powerful as their previous versions.

The benefits of containers and Kubernetes are numerous. Consequently, they have seen massive adoption across businesses of all sizes. However, to reap these benefits, you must follow Kubernetes security best practices to protect your business-critical applications from bad actors.

So help your business thrive with just a few of these practices before you migrate to the cloud:

  • Limit the number of processes you run in your containers to ensure that your cloud can update and troubleshoot itself with ease
  • Scan images for vulnerabilities on a regular basis
  • Verify you’re not running containers with heightened privileges. Also, avoid privileges beyond what’s required for them to function properly, in adherence with least privilege principles.

Thrive with Generation Z

There is currently a massive switch taking place with regard to the world’s buying power. This esteemed title has, for the past 15 years or so, been held by the Millennials. However, the new kids on the block are Generation Z. This generation is currently entering the world of work and starting to earn their own money. Therefore, a business that tends to the needs and expectations of Generation Z is sure to thrive. After all, Generation Z is slowly but surely taking control of excess equity.

If you want your business to resonate with this audience throughout the course of this decade, you have to find a way to appeal to them. Here are a few ways to do just that:

  • Keep your finger on the pulse of the latest tech
    Generation Z isn’t just comfortable in their usage of digital technologies. They’re pros at it! Consequently, you can help your business thrive by keeping your finger on the pulse of the latest tech trends. This is a must if they’re to trust in your capacity to provide them with a service befitting of the modern day.
  • Showcase the fact that you care about the world
    Generation Z has the web at their fingertips. They are saturated in news headlines and bulletins. Therefore, this group is a very socially aware and “woke” group of people. To ensure you appeal to this audience, then, you have to show you care about the world by giving back to your community and championing green initiatives.

If you put the above advice into practice now, then you will no doubt be scaling the heights of your industry in ten years’ time. These are just a start to help your business thrive in a new and younger market.



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Free Book Excerpt: Ignore Your Customers (And They’ll Go Away)

February 16, 2020 by Asif Nazeer Leave a Comment


Ignore Your Customers - free 3-chapter except

 

Businesses all agree: you must serve customers well. But in today’s always-on digital ecosystem, this has been ramped up to the umpteenth degree. If you ignore your customers on the many different channels in which they communicate, they might just go away — for good.

Micah Solomon’s book, Ignore Your Customers (And They’ll Go Away), hammers this point home.  A few weeks ago I reviewed his book and gave it a 5-star rating. (Read: Review of Ignore Your Customers)

And now we’re excited to bring you an exclusive 3-chapter excerpt of his book.  Scroll down to the end of this article for the download link — but first let me tell you a little more.

Who Micah Solomon Is

Named as  “a new guru of customer service excellence” by the Financial Post, Solomon explains what you need to do as a business. Today, customers have a dizzying array of ways to reach you — in-person, phone, live chat, email and website forms.  Not only that, they can be talking on social media channels, online review sites, even their own blogs.

With all the touch points that now exist, how do you engage?  And convey an attitude that helps your business, not hurt it?

Micah Solomon is a customer service consultant who has experience with leading brands to make his case.  From Richard Branson, to Zappos CEO Tony Hsieh, as well as insights from companies such as Amazon, Ritz-Carlton Hotel Company, Cleveland Clinic and others, you will learn how to engage with your customers and build long-term retention.

What “Ignore Your Customers” Tells You

In Ignore Your Customers, Solomon lays out an approach to customer service that he insists will yield huge results. It also is immune to being copied, he says:

“What I’m going to challenge you to do in this book isn’t easy: to build an organization that is centered on your customers in fundamental yet sophisticated ways. But it will be an incredibly fruitful venture, resulting in a multipart payoff:

  1. You’ll retain a higher proportion of your existing customers
  2. You’ll increase per-customer spending
  3. You’ll attract new customers … and you’ll do it all in a way that is almost entirely immune to being knocked off by competitors

If this last claim, ‘immune to knockoff,’ sounds farfetched, let me explain and defend my reasoning. I’m making this claim because I have a strong hunch that if you do the work suggested in this book, you can sleep easy knowing that it’s unlikely that your competition will buckle down and do the same. Although your competition may copy your pricing, ape your innovations, duplicate the look and feel of your website, and so forth, they’re unlikely to muster the vision, energy, and follow-through required to replicate the customer centered organization that I’m here to help you build.”

Solomon counsels organizations to develop an “automatically positive” approach — employees who want to respond “yes” automatically.  Not “no” or “I’m not sure if we can do it.”

They should convey the following general attitude:  “The answer is yes! Now what was your question?”

He recognizes that companies cannot always say yes.  However, he explains, there’s almost always a way to soften the blow and say “no” in those situations.

Instant Download

Download your 3 free chapters here.  (No registration required!)

If you want advice on WHAT to do to build a world-class customer service approach, you will get it.  And if you want advice on HOW TO do it, you will get that too.

Many thanks to the author for making this excerpt available, with permission.

Image credit: Micah Solomon

This article, “Free Book Excerpt: Ignore Your Customers (And They’ll Go Away)” was first published on Small Business Trends





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Read This Before Starting a New Business – Starting A Business

February 15, 2020 by Asif Nazeer Leave a Comment


Four successful small business owners offer invaluable insight and advice into how to avoid common yet deadly pitfalls when launching your own business.  

Starting a new business can be exciting but it’s also risky. The Small Business Association recently found that only 25% of small businesses last longer than fifteen years. Sadly, there are many common yet deadly mistakes you can make that will suck the life out of your new company before you have the chance to get it off the ground.

The good news is that others have gone before you. Small business owners have overcome the pitfalls. And many are willing to share their advice on how to start a company that will be successful long-term. Read on to see how experts address four common questions regarding launching out to become an entrepreneur.

Why Do People Bother Starting a Business in the First Place?

Most experts agree that many people start their own business because they hate working for a boss and would rather work for themselves. At the same time, as Laith Pahlawan from Orange Crew notes, some entrepreneurs are simply disillusioned by businesses in their field. They believe that they can do a better job than existing companies. Additionally, many people think that starting their own business is a good way to earn lots of money.

What’s the Biggest Mistake People Make When Starting Their Own Business?

Nick Allo from Semtech IT Solutions points out that one of the biggest mistakes people make is starting a business without a sound financial plan. Such a plan includes not only the funding needed to get a company off the ground but also money to live on.

It is also necessary to have a plan outlining how you, the business owner, will get paid. Ilan Sredni from Palindrome Consulting seconds Mr. Allo’s emphasis on a financial plan. He also points out that it’s imperative to include marketing as an integral part of any financial plan.

RELATED ARTICLE: MARKET RESEARCH MADE EASY: 7 TIPS FOR EXCELLENCE

Getting a business off the ground without a marketing budget is extremely difficult. Bryan Ferrario from Alliance Technology Partners points out that starting a business without doing proper market research is a huge mistake that any aspiring business owner will want to avoid.

Anyone considering starting a new business should know some essential metrics. These include the market demand for potential products or services. Also, new business owners must know the average rate charged for the products or services they plan to offer.

The research doesn’t end there. A ton of research is in order to ensure the business launch is ultimately successful.

Laith Pahlawan states that one big mistake is to treat one’s business as they would a self-employed contracting job. In other words, some new business owners think they will provide a service, get paid for it, and that’s that.

However, that’s not how a business works. A business is scalable. It includes expansion, which means paying attention to sales, marketing, human resources, and so on.

When Should a Person Build a Company?

Many people who prefer self-employment to traditional employment start by working in the gig economy before setting up their own companies. This is a wise move. It can help a future business owner get to know the industry. Gig work also provides networking opportunities. These offer leverage once the new business is launched. However, those transitioning from gig jobs to launching a company need to know how to tell if the time is right to make the switch.

Laith Pahlawan states that an entrepreneur should make the switch when they have a large enough order or contract to build a business infrastructure and scale the business up.

Bryan Ferrario, on the other hand, states that a person should seriously consider if moving from contracting to running a business is a good idea at all. He notes the difference between starting a new business or just being one’s own boss. Those who have an in-demand skill but don’t want the hassle of hiring and working with employees may find that contracting is the better choice for them.

What Is One Thing You Would Have Done Differently?

Laith Pahlawan comments that he wishes he had started his business with a partner rather than on his own. A partner can provide motivation and assistance that can make the challenging process of launching a successful business much easier. Alternatively, those who cannot find a suitable partner may want to get support from a mentor, supplier, sponsor, peer group, family member, or friend.

Bryan Ferrario, on the other hand, found that starting a business with two partners who weren’t committed to its success was a big mistake. He notes that there needs to be a clear agreement between partners. Such agreements should specify:

  • roles for each business partner
  • how each person will be compensated
  • profit distribution among partners
  • how shares in the business are to be handled in the case of death or departure.

A Final Note

Are you considering starting your own business? If so, consider the advice outlined above and adapt it to suit your needs. Doing so can increase your chances of success while helping you avoid difficult, time-consuming problems and situations.



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