Archives for 2020

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While most of us dream of going it alone and starting our own business, almost all of us will have to take a job at some point. Study is the gateway to that employment. However, not all degrees are equal when it comes to employability. 

The subject you choose to learn at university will, in most cases, have a critical influence over your career options. You must choose wisely. Consider the following insights as you consider a degree or certificate.

Arcane Subjects and Employability

We’ve all had that friend who studied an off-the-wall subject at college. Unfortunately, they often later complain that they cannot find work. What’s more, they are not prepared to start a business of their own. But courses are available in a dizzying array of topics these days. For example, “The Simpsons and Philosophy” is an actual college course, available at Berkeley. It might not, however, be particularly helpful for employability.

Surely, some subjects and qualifications are more likely than others to make you employable. You should consider your future options carefully when choosing what to study.

Geography

Another essential point to remember when choosing what to study is whether you want to remain living locally or relocate. Many skills are in short supply around the world. Choosing a subject needed in another region will vastly increase your chances of finding work abroad.

Geographical limitations have become all the more critical in recent years. The reality of location may make starting your own business venture more attractive. Migration laws continue to restrict mobility among many countries. Therefore, when seeking employment you must plan ahead and be aware of the market for your newly acquired skills.

Talent and Employability

Remember, we tend to be good at the things we enjoy. So choose a subject that sparks your interest or that gives you satisfaction. It is much, much easier to spend time working at something you enjoy and that engages you.

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Also keep in mind that studying for a typical degree can take three to four years. Therefore, you’re going to spend a lot of time studying whichever subject you choose.

The Top Six Employable Fields

Of course, new graduates are in higher demand in some industries than they are in others. Therefore, study in such areas can lead you quickly into employment. While the world is changing fast, the following fields jobs rank among the highest in employment lists over time. In other words, they offer the best stability and the most employment opportunities globally. Here is a review of the top six fields of study that lead to employability.

Healthcare

The healthcare industry probably offers the best job stability of any sector. After all, people will always get sick and injured. Therefore, there will always be a need for nurses, doctors, and dentists to care for them. Healthcare professionals are in demand the world over. Moreover, most medical qualifications are accepted globally.

On average, around 99% of all medical and dentistry graduates find work within six months of leaving university. Not only that, but the healthcare sector has some of the highest-paying jobs for new graduates. In short, healthcare is the premiere industry for employability.

What’s more, getting into the healthcare sector is relatively easy. You can even study online to be a nurse practitioner. However, you must complete extensive on-the-job training before you become fully qualified.

Additionally, a degree in any form of healthcare is commonly regarded as one of the toughest to complete. Study in healthcare requires dedication and hard work. Still, if you put in the time, the rewards are proven and lucrative.

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Veterinary Sciences

Students of veterinary studies are also in high demand. In fact, approximately 98% of veterinary students find employment within six months of graduating.

Also, veterinary graduates earn a similarly high starting salary. The only downside is that study for a veterinary degree requires around six years from start to finish.

Medical Science

Medical science is a vast and wide-ranging sector. The industry includes everything from biomedical research to the development and discovery of new drugs. In general, employability is high in medical science. Around 95% of all graduating students will find work within six months.

As with the other medically oriented degrees listed above, medical science qualifications take hard work and dedication. 

Architecture

Architecture is a highly varied subject and can involve mathematics, technology, science, and art. As such, it will be tough to get into if you don’t already have a wide range of skills behind you. Nonetheless, architecture ranks high for employability. On average, 90% of students in architecture-related studies find work within six months of graduating.

Unlike other subject fields noted above, many architects go on to start their own firms because they choose to work for themselves. Still, even for those who choose to seek employment with an agency, graduate salaries are usually high. 

Education

Teaching is another career sector with high employability and security. In the same way that people always get sick, people will also always need teachers.

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However, the majority of teaching staff don’t study teaching as such. Most study another discipline and then specialize with an additional teaching qualification. This adds up to a relatively long time spent studying.

In exchange for long hours and challenging work, teachers receive far more holidays than most other jobs. The employment prospects are impressive, with around 90% of teaching graduates finding work within six months of leaving university.

Technology

Technology, including artificial intelligence (AI), is undoubtedly going to play an increasingly significant role in the workplace in years to come. However, contrary to the widely held belief that technology is stealing people’s jobs, the evidence reveals otherwise. In fact, mounting evidence suggests that new technologies are giving rise to entirely new areas of work. 

Employability and Your Rate of Success

Remember, the subject you choose to study at university won’t necessarily dictate what you do for the rest of your life. Still, the employability of your chosen area of study can influence the speed and direction of your career. Spend some time researching what you want to do and choose wisely.

Featured image by Shahid Abdullah from Pixabay 

In this guide, we cover what the ADA is all about and why you need to start using a web accessibility solution like accessiBe.

Making Your Real Estate Website Easily Accessible with accessiBe

Whether you’re a real estate agent, broker, or property handler, you need a website to showcase your property listings effectively.

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However, having a professional-looking website isn’t enough. You need to ensure your site is accessible to every one of your web visitors—even to those with disabilities. Otherwise, you’ll violate the Americans with Disabilities Act (ADA).

In this guide, we’ll cover what the ADA is all about and why you need to start using a web accessibility solution like accessiBe.

Overview: Real Estate ADA Compliance and Web Accessibility

The ADA ensures that all people, including persons with disabilities (PWD’s), can access public accommodations. Additionally, it ensures that PWD’s can access other aspects and services physically, including, as the DOJ recently ruled, online spaces.

That includes websites by apparel stores, restaurants, hotels, creative studios, clinics and hospitals, gymnasiums, real estate agencies, and many others.

These companies should observe web accessibility. This is about making their websites, apps, and other programs easy for disabled people to use them.

Otherwise, anyone, especially PWD’s, can sue or file a complaint. Your business can lose $35,000 to $100,000 worth of penalties and settlement fees, besides tarnishing your business reputation.

RELATED ARTICLE: MAKE YOUR WEBSITE ADA COMPLIANT WITH ACCESSIBE

Web Accessibility Lawsuits in the Real Estate Industry

If you think your real estate company has little chance of receiving accessibility lawsuits, think again.

In Florida, for instance, Florida Realtors reports numerous members and a large local association receiving demand letters threatening litigation for inaccessible sites. (It’s probably worth mentioning here that Florida has the third-highest number of lawsuits in the US.)

Another example is Compass, which was slapped with lawsuits for creating barriers to its visually impaired clients. This included the absence of elements for screen reading software to relay.

Which is why, to avoid possible litigation, the National Association of Realtors (NAR) supports the pursuit of site accessibility among real estate agents and brokers.

Plus, at the May 2016 NAR conference, MLS CEO Shelley Specchio urged the real estate industry to take accessibility seriously. In her talk, she shared how her MLS listing service got a disability discrimination charge.

Besides the legal threats, though, accessibility helps your real estate company streamline and provide excellent online services. This motivates clients to revisit and recommend your site.

This results in a wider client base, better client relationships, and more satisfaction. Plus, your site will enjoy increased traffic, more site activity, and potential sales, among other benefits.

Finding the Best Assistive Technology for ADA Compliance

To make your site and online services accessible, the ADA permits and mandates the use of any assistive technologies as necessary.

For websites, this usually means redesigning your site. In other words, you’ll need to integrate elements that can help make your content more readable. Your videos and photos will need to be less glaring. And there may be other elements your web designer will need to address as well.

However, manual redesigning, including installing several plugins, costs up to $50,000. Nor does this figure include maintenance. Plus, a project such as this can take six months or more to complete. Even then, it will fulfill only 15 percent of the ADA requirements.

RELATED ARTICLE: WEBSITE DESIGN IS CRUCIAL FOR YOUR STARTUP’S SUCCESS

Additionally, when your site updates, all that hard coding can vanish. It’s unsustainable, inefficient, and expensive.

Thankfully, there’s a better way: through automated accessibility technologies such as accessiBe.

accessiBe: The Easy Way to Achieve ADA Compliance

accessiBe is the first automated, AI-powered accessibility solution. This makes it the leading innovative technology in the web accessibility market.

An all-in-one solution, accessiBe offers several instant site adjustment features. Its AI adds aria attributes, scans images, and inserts alt tags. Moreover, it automatically edits the code to make your site navigable through keys.

Installing accessiBe is also easy-peasy. You only need to insert a single line of JavaScript code, and the accessibility interface appears instantly.

accessiBe’s AI studies your site, fulfills ADA requirement gaps within 48 hours, and scans it every 24 hours to ensure you’re always compliant.

One real estate company named Cagan Management Group, for instance, testifies to accessiBe’s cost-efficiency and effectiveness, saying it has integrated the solution in 25 managed websites in 6 months.

To understand how accessiBe works, let’s look at its features and how it modified Cagan’s website. (Keep in mind, that it can do the same for yours.)

We’ll use Cagan as an example for you to view and compare the changes the accessiBe program made. Cagan’s site initially looked like this:

Now, it’s worth noting that the site modifications applied are not permanent. They remain only in your users’ browser cookies and on their devices’ screens.

The changes don’t affect how your other clients see, use, and experience your website. Once users disable their selected adjustments, your site goes back to how it originally looked.

accessiBe Features

accessiBe provides accessibility profiles that, when selected, automatically apply the site modifications suitable to the disabled person’s needs.

It has the Epilepsy Safe Profile, for instance, which turns off all flashing animations, including videos. Also, it reduces color to avoid triggering seizures for those with photo-sensitive epilepsy.

Applied to Cagan’s website, it looks like this:

The Visually Impaired Profile enhances the site’s visuals. This includes enlarging and magnifying text, which helps users with glaucoma, degrading eyesight, and others to read your content better.

On the other hand, selecting the Blind Users profile adjusts your site to be compatible with your blind clients’ screen reading software, such as JAWS and VoiceOver.

This aids the users in reading your content. This includes photo and image descriptions created by accessiBe’s AI, through Braille or text-to-speech engines in their screen readers.

Turning on the Cognitive Disability Profile lets clients with dyslexia, autism, and other related disabilities focus on your site’s essential elements, such as texts and titles with links.

By minimizing distractions, the ADHD Friendly Profile assists visitors with ADHD and other neurological disorders in reading, browsing, and focusing on significant site elements.

Finally, the Keyboard Navigation profile enables motor-disabled visitors to use and navigate your site with Tab, Enter, and Shift+Tab, and shortcut keys such as “M” for menus.

Your clients can also manually apply changes such as content scaling, background color adjustments, and so on. They can also use other features in the accessiBe window, such as the online dictionary, language translation, virtual keyboard, and more.

Simplify Your ADA Compliance with accessiBe.

Eliminate the coding hassle, long turnarounds, and high redesigning costs to achieve web accessibility. Moreover, give yourself the peace of mind of knowing you’re avoiding ADA violations and possible legal problems.

Use efficient, all-in-one solutions such as accessiBe to fulfill the ADA requirements and guarantee your compliance at all times.

As you do, you build strong client relationships and a socially inclusive brand image for your company that ensures round-the-clock accessibility for your disabled clients.

Image by StockSnap from Pixabay 

Project-based learning imitates real-world business settings and situations. It helps students get a broader picture of what the business world entails.

As more small- and medium-sized enterprises continue to boom worldwide, learning institutions are incorporating project-based learning to match this wave. This approach aims to empower students to come up with great ideas that will affect the business world by finding solutions to existing problems. Below are the core benefits of using project-based learning in business schools.

Project-Based Learning Offers a Real Business Setting

With all the challenges in the business arena, preparing and familiarizing yourself with the hurdles will make things lighter when you eventually join an industry. It is vital that schools equip students with the skills and experience the real business environment requires.

Students can more easily acquire the skill sets and experience they need through project-based learning. This is because this method of learning encourages students to set up real businesses. For example, they can create a construction company that hires contractors. Then, they must communicate with staff members. They must also develop a team of sales representatives to market the company’s services and work with designers who develop the projects the company takes on.

Students monitor their colleagues and will even feel the disappointment of having teammates who do not deliver. Additionally, they will learn how to appreciate workmates and work in teams. And in case of challenges, they will learn to come up with solutions together.  

This approach also includes internship programs in the curriculum, whereby students work within established corporations to learn first-hand about how businesses operate. This type of learning takes them far beyond the theories they learn about in the classroom. Internships broaden students’ perspectives and bring to light some of the inner workings of the business world they cannot learn by simply sitting in a classroom.

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It Provides Opportunities for Gaining the Attention of Possible Mentors

It is high time we move away from the notion that only teachers can guide students in their academic path. Every member of the community has a role to play. Project-based learning brings out these roles since students get the chance to look for mentors who play roles similar to the ones they are assigned.

For example, a student assigned a sales and marketing role will look for a sales and marketing specialist. This person will then guide them in performing their duties.  

Furthermore, during internships, students often have supervisors who guide and teach them the norms of their occupation. Thus, this type of learning encourages an early mentorship program. This then inspires students to step up in whatever role they have when they join the job market.

Project-Based Assignments Promote Long-Term Learning

Sometimes, reading many pages and attending many classes becomes tiresome. Most students have a hard time concentrating and understanding what their professors try to teach in class. Therefore, if given an assignment, it wouldn’t be strange for them to think of an essay writing service.

However, project-based learning involves the students being hands-on. This engages students and helps them understand the concepts they are trying to learn. This type of education brings students’ attention to a specific problem and a possible solution. Consequently, learners start to engage with the project, and it becomes easier for them to remember what they have learned.

It Helps Students Choose and Build Their Career Path

Many students have have not yet figured out which field of business they want to venture into. Nor do they understand what they want to do with the knowledge they are acquiring. Therefore, by assigning them projects or placing them in internship positions, it becomes easier for them to identify with the various areas of business. They might even gravitate toward an interest in a certain area.

Furthermore, project-based learning boosts skills such as communication and problem-solving. These skills are mandatory for any career to be successful. Therefore, mastering them early can give students an upper hand in the job market.

Project-Based Learning Provides Students with Real Life Skills

Success in an educational institution entails scoring straight A’s and being at the top of the class. However, project-based learning redefines this idea. This is because a student’s skills and academic competence are not one and the same. In other words, they can excel in class, but then they must also put into practice what they have learned when professors assign them real issues to handle.

The business world is evolving fast. Therefore, it is critical to adjust learning strategies so that students can familiarize themselves with what is actually happening in the world of business.

A professional business plan is crucial during when starting any business. After all, in the business plan you outline and detail the “how” of your enterprise. Additionally, the planning document aids business owners in analyzing the progress of their startup and when seeking additional funding. Writing an ideal business plan helps any graduating student jump-start their business endeavor or business career.

Graduating students must hone the skill of writing a plan that forecasts progress for established firms, too. At the very least, student and business owners benefit from knowing the basics of a successful business plan. 

Getting Started with Writing the Ideal Business Plan

An ideal business plan should project the upcoming three to five years. Therefore, a successful plan contains information about your future marketing strategies and the possibilities for your company’s success. 

Additionally, You need to customize the plan and include headers, charts, and appendices for easy navigation. The average business plan will be about 40 pages. If that seems daunting, a skilled essay writer can assist with drafting an effective plan.

A useful business plan is never finished. Instead, you should revise it regularly as you achieve the results you’re aiming for. However, during the revision period, you must ensure that you do not lose focus of the long-term aims of your business.

Here are the essential reasons for writing an ideal business plan:

• Establishing reachable business goals 
• Understanding the main objectives of the company/business
• Enabling others to comprehend your business policies   
• Maintaining focus and prioritizing your work

Additionally, a business owner hoping to expand internationally may find the plan useful to evaluate the potential of their services in the foreign market. 

The Ideal Business Plans for Startups

For students who choose to build a start-up, the ideal business plan will help organize essential ideas and goals. In addition, an effective plan provides a new entrepreneur the ability to track the firm’s progress. Lastly, categorizing products and drafting a marketing strategy rely heavily on an effective plan for your business.

Photo by Startup Stock Photos from Pexels

Remember, you must continuously revise and keep up to date your business plan, even if it seemed ideal at the start. The writing process does not change, but the content evolves along with the business. Each business plan is unique, even though the components of a successful business plan are similar across industries.

Capital-Building Plans

Funding companies want to see your firm’s progress, first and foremost. They will also want to understand how you will repay any funds they provide your venture. Writing an ideal business plan for funding includes these matters. Be up front about your expectations and how you will meet your obligations.

The Essentials for an Ideal Business Plan

Here is a quick look at the essential components of a business plan and its formatting outline. Students should consider each one of the components below carefully when they aim to write the ideal business plan.

Cover Sheet 

Student entrepreneurs must familiarize themselves with the correct formatting when writing an ideal business plan. The cover sheet comes first and should bear crucial information about the enterprise. This includes your firm’s logo, name, contact information, address, and any other important personal contact information. 

Table of Contents

The table of contents of the ideal business plan provides readers quick access to the various sections of your business plan. Readers can then choose the area that is most important to them without going through the whole report. Additionally, the table of contents is a good reference point and writing guide, especially when determining the project’s length.

Summary 

Though you may write the summary last, ensure that it appears immediately after the table of contents. For you, as the writer, the summary provides a final word. However, for your reader, the summary offers an overview of the entire plan before they get into the plan details. 

The Company Description in an Ideal Business Plan

Your company description must contain essential information about your business. Include your company history, mission statement, goals, vision, and the principles. This section should also provide the names and roles of your top-ranking employees or people with chief roles. 

Market Synopsis and Analysis 

Business owners must provide accurate analysis and description of the current market for their industry. It is important to provide data regarding the target market, shares, and advertising strategies. This section of the plan should also provide information about the ideal client for your business. Make sure to cite all facts and statistics properly. 

Photo by Lukas from Pexels

Services Offered

No business plan is ideal or complete without a detailed description of the goods and services the business offers. Business owners should explain why the products are better than competitors’ goods. Also, describe the value of your services or products for advertising purposes.

Fiscal Control

Any agent reading your business plan will want to better understand the costs associated with starting and running your business. Therefore, include projected income statements and the calculated risks of doing business. Operational organization charts also help the reader better understand your financial obligations. 

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Appendices 

As we noted earlier, the ideal business plan never expires. Instead, the plan is revised over time. Appendices provide business owners the necessary additions that reflect the growth of your business. Your appendices note the implementation of new ideas and outline the overall growth of your business.

Final Thoughts 

Students of business must focus study on writing an ideal business plan in order to transition from student life to entrepreneur and business owner. The best way to refine your skills is to draft business plans for your professors to review and provide feedback. Structure your business plan to reflect all essential information and ensure that details are precise. Be consistent when expressing the company’s goals. Finally, writing an ideal business plan requires a clear statement of your business goals and standard procedures about how you will reach your goals.

Featured image by DuxX

A car dealership can be a lucrative business. Even though public transportation offers a safe and reliable way to get from Point A to Point B, many Americans prefer, if not need, their cars. Further, with the typical vehicle lasting for only eight years or approximately 150,000 miles, the chances are that traffic to your dealership will be relatively steady.

Plan Your Business

In this article we provide insight into the elements of a business plan for a successful car dealership. Taking the appropriate amount of time along each step of the way will ensure that you understand the start-up and ongoing expenses related to a car dealership, how to identify your target market, how much you can expect to make, and more.

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Before you begin documenting your business plan, it is important to know that this document will be about far more than some chicken scratches on a napkin. Your business plan needs to outline how your car dealership is going to operate and the steps you are going to take to make it succeed. Further, your business plan should be dynamic, meaning that you will add to it as your business grows.

The core components of a business plan include:

• An executive summary
• An overview of your car dealership business
• Information on the vehicles that you plan to sell at your dealership
• Your marketing and advertising plan
• An outline of the milestones that you plan to accomplish with your business
• Information on the roles and responsibilities that you will have within your organization, and who will fill the leadership roles
• Your car dealership’s financial plan

To help prepare you to document your business plan, we have provided some helpful information below. These insights will help you think through critical components of your business.

What Are the Costs Involved in Operating a Car Dealership?

Though car dealerships can be lucrative, starting one isn’t always the easiest thing to do. To start, you will need to obtain the proper licensing and a surety bond. Auto dealers must file a surety bond with the appropriate department or agency in their state before they can get an auto dealer license. This surety bond protects consumers from fraud and is the license that allows car dealers to sell vehicles within that state.

However, purchasing a bond can be a confusing process. The type of bond you will need to obtain will vary depending on whether your dealership will sell new vehicles, used vehicles, motorcycles, recreational vehicles, or some other type of vehicle. The bond’s cost will vary as well based on your financial credentials, your credit score, and whether or not you wish to finance the premium and the amount of the bond itself.

On average, it will cost between $100,000 to $200,000 to start a car dealership.

Who Are the People in Your Target Market?

A target market comprises the people who will be interested in the products or services you have to sell. Thus, for a car dealership, the target market will include those interested in purchasing a car, as well as precisely the type of car you sell.

The best customers will have good credit, though this can vary depending on the types of cars you sell. Some dealerships focus on luxury cars. In those cases, a very good to an excellent credit score will be necessary (unless the customer is purchasing with cash). Other dealerships might focus on low-cost used cars. In that case, sometimes, there are different requirements related to the customer’s credit score.

Before you open a car dealership, it is important to determine the types of customers that you want to target. Moreover, you don’t want to open a dealership in an area where those customers can’t be found.

Form a Legal Entity

Before you can conduct any business (and likely before you can purchase or lease the space for your car dealership), you will need to form your legal entity. This process consists of the following key steps:

• Select the name of your LLC (limited liability company). To do this, start by searching the local Secretary of State website to see if your desired car dealership name is available.
• Apply for a Federal Employer Identification Number (FEIN) with the Internal Revenue Service (IRS).
• Complete the articles of organization and pay any applicable registration fees.
• Develop your LLC operating agreement.

You will also need to complete any remaining steps as required by your local secretary of state. In many cases, consulting with a business attorney can help reduce business risk and ensure you do not miss any appropriate steps.

Register Your Car Dealership for Taxes

If you have obtained your FEIN through the IRS, then you are already covered for this step. The FEIN, sometimes referred to as the EIN, works much like a Social Security number. This number is what enables the IRS to keep track of your car dealership’s tax reporting. Further, you will need an EIN before you can lawfully hire any employees.

Set up the Accounting for Your Car Dealership

Unless you have a strong background in economics and accounting, then you may want to consider hiring a professional accountant or bookkeeper. This person will be responsible for recording the various expenses that your car dealership incurs, as well as the sources of income.

Keeping detailed and accurate records is crucial in any business. This helps prevent unlawful activity. Though you do not need to document all of the details about this information in your business plan, you should be sure to reference how and where you will maintain the accounting for your business.

Obtain the Necessary Permits and Licenses

You must obtain the necessary business permits and licenses. Failure to do so can lead to a shut-down of your business as well as hefty fines. Further, reopening a company that has been shut down due to improper licensure is not an easy task.

Be sure to document information about your company’s permits and licenses within your business plan.

Get Business Insurance

Business insurance is also necessary to ensure that your car dealership is operating both lawfully and safely. This type of insurance will protect the well-being of your company in the event of a loss.

RELATED ARTICLE: CRITICAL BUSINESS INSURANCE EVERY ENTREPRENEUR SHOULD HAVE

There are many types of insurance policies, and all serve different purposes. In most cases, it will be best to start with general liability insurance. Small businesses commonly use this.

If the car dealership needs additional employees beyond a sole proprietor, then workers’ compensation insurance will also be necessary. Workers’ compensation insurance protects employers (the car dealership) from litigation related to workplace accidents. Further, it can provide compensation for employees who are injured on the job.

Will Your Dealership Buy Damaged Cars?

Though it is not a start-up cost, nor is it an insurance expense, you need to identify if your car dealership will purchase cars that have been damaged. Further, customers will often trade in poorly functioning cars. This will entail a business expense to the car dealership. Those vehicles will need to be fixed before you can sell them to another customer. In other cases, you might even need to sell the parts for scrap metal.

If your car dealership will be in the business of purchasing damaged or nonfunctional vehicles, you can add this segment to your target audience. Further, a strong brand can help your business differentiate from others, and make what you have to offer more lucrative.

Market and Promote Your Car Dealership

Attracting new customers can be a challenge, especially in the beginning. In some cases, a tent sale can help attract in new customers, especially when you advertise it in the local newspaper and online.

However, this introduces the concept of the website. Any business, big or small, can benefit from a business website. The website adds credibility to the business. Further, you can arrange to create content on the company’s website, such as in a blog. Then you can promote the same content on social media to help create awareness of the business.

The benefits of a website for your car dealership include:

• Attracting new customers and making more money for the business
• Adding instant credibility to the business
• Staying in control of your brand

Websites are relatively inexpensive to build and maintain. In fact, freelancers can help build a website at a low cost. Plus, your website can save you time, especially when you maintain an FAQ (frequently asked questions) page. This page can answer many customers’ basic questions.

Be sure to outline the key elements of your marketing and advertising plan in your business plan.

Image by mohamed Hassan from Pixabay 

Keep Customers Coming Back

The best way to keep customers coming back is to ensure that they have a positive experience with every interaction. An honest, transparent, and responsive car dealership, by nature, will be sure to generate positive word-of-mouth advertising, which is essential. A happy customer will provide some of the best advertising, and it is often worth far more than what money can buy.

Quite simply, car dealerships are driven by relationships. Referrals from past customers will go a long way. Also, special incentives can motivate repeat customers. Consider offering deals on service or a value-add (such as free car washes for a year or free floor mats). Even providing a safe play area for children to play in while parents are car shopping can be a value add.

Conclusion

As with any new business, it is crucial to do your homework before starting out. Proper research will ensure that a new car dealership is set up lawfully and is well-equipped to offer excellent service to customers. Further, with proper advertising and marketing, and excellent customer service, a car dealership can be a highly profitable and rewarding business.

Finally, businesses of all types and sizes can benefit from a business plan. Not only is this documentation important to help you get started, but it can help you manage your business for years to come.

So, you’re interested in bolstering your investment portfolio, but you’re not an accredited investor. No problem! You’re like many other members of the United States’ general public. Especially during the current year, it’s important for business owners to consider setting up and managing their investment funds. It is time to act as your own investor.

Of course, it’s important to understand the difference between types of investments. Also, you must set a reasonable expectation for your returns. If you’re wondering how to boost your investment fund without being an accredited investor, here are a few things to keep in mind.

Accreditation

First, it’s a good idea to know exactly what an accredited investor is. In the US, an accredited investor has access to some investment opportunities that the general public does not.

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For instance, non-accredited individual investors can’t trade private companies and private funds unless the individual investor knows the founders of said companies. In order to act as your own investor with such companies, you must network with the company owners directly. Additionally, an accredited investor may receive an offer to invest in hedge funds.

Investor-Type Guidelines

The SEC (Securities Exchange Commission) sets guidelines which stipulate what constitutes a person’s investor status. To start, an accredited investor must have a net worth (total assets) of more than one million dollars. This includes the spouse’s income if the investor is married.

Additionally, the accredited investor’s annual income must be greater than $200,000 each year, for the past two years. An accredited investor must act as a general partner, executive officer, or other executive in business. Alternately, an accredited investor may function as a broker-dealer.

With all of these SEC rules and regulations in place, how does a business owner like yourself begin to act as your own investor?

Non-Accredited Investors

Non-accredited investors have different Securities Exchange Commission guidelines. For instance, the SEC limits the total assets, net worth, and other financial realities of the non-accredited investor. Only a few exemptions exist in a handful of states.

Fortunately, the SEC provides several options for non-accredited persons to invest. Even as a business owner, you have options. When your net assets are under stated thresholds and you do not meet the accredited investor guidelines, you have a handful of lucrative investment avenues.

Crowdfunding

Most commonly, you may act as your own investor through a crowdfunding investment. Crowdfunding allows you to invest in startups and growing businesses that would more typically be the targets of angel or VC investments. This is often referred to as “equity crowdfunding.” Political leaders in support of the JOBS Act opened this avenue to non-accredited investing.

Equity crowdfunding is particularly popular because it doesn’t require large upfront investments. Even a small business owner can make a large enough contribution to see profitable returns. Depending on the size of a funding round, a non-accredited investor can participate with as little as $1,000. Crowdfunding is a means of leveling the playing field between accredited and non-accredited individuals.

Real Estate

Another popular investment type is real estate investing. Naturally, this refers to investing in property outside of your primary residence. To act as your own investor through real estate, you have two main options: investing in debt and investing in equity.

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Debt investing means that you are investing in a mortgage note. You receive a share of the interest after the mortgagee pays the note in full. Typically, the return arrives directly into an account at your financial institution.

Equity investing, on the other hand, stipulates that you take on a percentage of ownership stake in a given property. Investing in equity requires a bit higher risk than debt investment, but the returns aren’t as limited.

In Summary

Of course, there are a handful of other ways that non-accredited individuals can invest. However, these are some of the most common and most effective. To learn more, reach out to your financial advisor to discuss investment options.

The bigwigs in the insurance industry have always looked toward incorporating more technology into their businesses. However, long-standing processes and strict government regulations have hindered most InsurTech companies’ progress toward this goal. Fortunately, we’ve started to witness some massive changes in this trend.

Now more than ever, insurance companies are increasing their investment in technology. CB Insights estimates that investors have provided more than $4.15B to insurance tech startups globally. Moreover, industry insiders expect this figure to rise as more startups continue to pop up.

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With so many InsurTech startups mushrooming almost daily, how are you going to differentiate between the worthwhile insurance tech startups and the fads?

Today, we look at the best-known InsurTech companies in the current global insurance market.

Chinese InsurTech Company ZhongAn

ZhongAn may be the most comprehensive online Chinese insurance company today. ZhongAn is undoubtedly up there on the UnsurTech company leader board.

Jin Jeffrey Chen is the company’s CEO. ZhongAn was co-founded by the brilliant billionaire Jack Ma of Alibaba fame, along with Mingzhe Ma of Ping An Insurance and Tencent’s Pony Ma.

Its initial public offering (IPO) in 2017 was the first InsurTech IPO, and it raised $1.5bn.

Flock

Flock is also quickly shooting up the InsurTech leaderboard, thanks to its real-time quantified risk assessment capabilities.

This London-based InsurTech company is backed up by the UK government along with several venture capitalists. It is a pioneer in the use of big data for providing intelligent insurance pricing. Its move onto the global stage was characterized by its partnership with Allianz, the world’s largest aviation insurer.

With this partnership, Flock launched its first InsurTech product, the Flock Cover, a pay-as-you-fly insurance plan. Additionally, it provides an exceptional safety app for drone pilots.

Attestiv

Nicos Vekiarides, John Bates, and Mark Morley, who previously built and exited two successful enterprise SaaS startups, co-founded Attestiv.

This InsurTech company tackles the rising effects of tampered photos, manipulated audio, and deepfake videos. In fact, it has targeted the entire insurance industry as its beachhead market.

Proprietary deep learning models, distributed ledgers, and enterprise workflows give Attestiv the ability to track and validate the authenticity of videos and photos from the point of capture. Attestiv also addresses patent inline validation for media insurance applications.

Perhaps the company’s strongest selling points are its quick and affordable inspections, underwriting, and claims processing.

Esusu

Esusu is a front-runner among InsurTech companies involved in improving financial resiliency. The company designs digital tools and services that help people to manage their finances efficiently.

Esusu has integrated a software solution for insurance that allows them to capture rental payments and consumer data as well as peer-to-peer payments. This InsurTech company uses this data in two ways:

• Esusu captures the financial risk profiles for individuals who are credit invisible or marginalized.
• They then share this data with major credit bureaus, lenders, and governments. This facilitates intelligent decision-making for loan arrangements, policy formulation, and credit scores.

InsurTech Company Zesty AI

Zesty AI is at the center of harnessing the power of AI in changing risk assessment. This InsurTech company uses the latest advancements in computer vision and deep learning data points on residential and commercial properties. The company then extracts important building features for precision modeling of catastrophic and non-catastrophic loss events.

Zesty AI partners with re-insurers and insurance carriers to accurately underwrite risk. This provides a smooth insurance policy purchasing experience for customers and makes inspections more cost-effective.

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Intellect Seec

The pioneer of autonomy in the insurance landscape, Intellect Seec seeks to modernize legacy insurance technologies. Intellect Seec is a cloud-native InsurTech company built as a PaaS (platform-as-a-service).

Intellect Seec enables insurance carriers to build applications that utilize big data. These applications in turn provide a competitive edge, as they utilize machine learning in a cloud environment.

Image by Gerd Altmann from Pixabay 

Because Intellect Seec has woven intelligence into the fabric of its network, it builds robust applications that better utilize insurance processes in the property and casualty insurance sectors. For example, one of its most talked-about applications is the Intellect Xpotent. Xpotent is a fully furnished underwriting workstation. It can be especially useful in handling complicated commercial risk specialties.

Moreover, Intellect Seec has integrated its major technology solutions—big data and machine learning—in all its operations, whether insurance-based or not.

Lemonade

The InsurTech company Lemonade claims to offer the first-ever open-source insurance policy. The company, with headquarters in New York City, offers both renter’s and homeowner’s insurance policies. Artificial intelligence and behavioral economics provide the power behind their policies.

Lemonade’s turning point came in 2016, when the company says they handled a claim in a record-breaking three seconds. This brought them a major shift in user acceptance and general marketability.

This InsurTech company is a B-Corp certified for-profit business entity. Accordingly, the company focuses on positively improving the lives of the people in the community it serves. Additionally, Lemonade offers its services at a flat fee regardless of the underwriting plan. This could explain why many folks cherish this InsurTech icon.

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Zego

Zego was founded by Stuart Kelly, Sten Saar, and Harry Franks in 2016. Saar and Franks are former directors at Deliveroo, and they started Zego to offer customized policy coverage for gig economy workers who wanted hourly commercial insurance.

Users prefer Zego for its simplicity. Its technology enables easy integration with other companies such as Deliveroo and Uber driver apps. It can track the policy holder’s working hours because it only insures a holder only while they’re on the road.

This fast-growing InsurTech company has already attracted $50 million in investments from TransferWise founder Taveet Hinrikus as well as Local Globe and Balderton Capital.

InsurTech Company Tractable

Alexandre Dalyac and Razvan Ranca founded Tractable in 2014, and Adrien Cohen later became the company’s chief business officer. Tractable has since become one of the most sought-after InsurTech companies.

The company relies on AI techniques and computer vision to inspect a vehicle’s level of damage. Using complex image recognition AI, the technology analyzes a series of smartphone photos to assess damage quickly and accurately. This has helped insurers save enormous amounts of time and money. Meanwhile, customers enjoy a quick claims process.

Tractable partners with giant insurance companies in nine countries, including Ageas in the UK and Covea in France. Additionally, the company has plans to bring the top 40 insurance industry players on board by the end of 2020.

The firm has so far raised $55 million, which includes a $25 million Series C funding round in February 2020.

BIMA

BIMA, an InsurTech company with headquarters in Stockholm, has a customer base of 26 million people in 14 countries. A leading player among insurance technology companies, its main goal is to enhance financial inclusion through mobile health and insurance services, especially to low-income individuals.

According to the company’s own assessment, 75% of its customers are first-time insurance policyholders. Additionally, a massive 93% live on less than $10 per day. Its charity-like insurance services make it a favorite of many.

BIMA has raised $110M to date, with the bulk coming from Allianz X, which invested $96M in 2017.

InsurTech Companies Continue to Disrupt the Insurance Industry

InsurTech companies continue to disrupt the insurance industry. Even though traditional insurance companies continue to play a leading role in providing policy coverage, these InsurTech giants are steadily catching up.

Predictive analytics, artificial intelligence, IoT, and machine learning are some of the software solutions for insurance that set these five InsurTech companies miles ahead of the rest. These pacesetters provide a framework of comparison for anyone looking to invest in the ever-growing business of InsurTech.