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You are here: Home / 2021 / Archives for October 2021

Archives for October 2021

6 Top Features – Business

October 29, 2021 by Asif Nazeer Leave a Comment


Featured image by rupixen.com on Unsplash

The global economy is becoming increasingly cashless and online banking is on the rise. What’s more, consumers expect highly personalized solutions with flawless user experience. This means digital technologies are now in the spotlight.

Moreover, the global pandemic has spurred their adoption. Therefore, banks that want to stay competitive must provide quick, secure, and convenient access to online banking.

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The demand for digital retail banking solutions is growing. Consumers are looking for convenient alternatives to conventional services. If your company is considering launching such a platform, stay abreast of the latest developments in the industry. Here are the top five features to integrate in an online banking service.

1. Fast and Convenient Account Opening

Let your customers open an online bank account from any location and at any time. For example, implement self-onboarding processes that simplify access and make customers’ lives easier. These include gathering and verification of personal data, validation of documents, and due diligence to guarantee compliance with laws and regulations. Additionally, remote ID verification services and Optical Character Recognition (OCR) automate verification. Therefore, the entire process often takes less than five minutes.

2. P2P Payments and Online Banking

Payments between accounts let individuals transfer money instantly in a few taps. In other words, they can make transfers to friends or family members using just one internet-connected device. What’s more, your customers will not have to wait for days or hours. A P2P feature will also let you keep them within your ecosystem.

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3. Intuitive Applications for Online Banking Services

To ensure high conversion rates for your financial products, allow online applications for banking services in a few taps or clicks. Make the process effortless, so customers can open an account or get a credit card in minutes. Moreover, if these processes are part of the core system, users will not have to enter their data again.

4. Digital Card Management

Give every online banking customer an opportunity to set up their own spending limits and block cards instantly within the app or platform. Let them activate and deactivate near field communication (NFC), check their in-depth history, and personalize their settings. Comprehensive control is also invaluable for the detection of suspicious activity.

5. Reliable Security

Online banking platforms store a massive amount of data. Therefore, they require multi-layer protection. To this end, keep your customers’ information secure with innovative technologies. Next generation systems must comply with regulatory data requirements. They must also embrace best practices such as biometric authentications, card tokenization, location-based security, and so on.

6. Up-to-Date Notifications

Notify your online banking customers about any changes to their accounts instantly. For example, provide information about new transactions, warnings about low balance, and overdraft. In-app notifications and alerts will help them stay on top of their finances.

Choose a White Label Online Banking Platform

To stay competitive, banks need cutting-edge applications and platforms that ensure instant access around the clock every day of the year. But designing an online banking system from scratch is not necessary. To save time and resources, you may opt for a white-label solution. In other words, choose a ready-made platform that will be customized to your needs.

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7 Tips to Prep Your Small Business for the Holidays – Business

October 27, 2021 by Asif Nazeer Leave a Comment


Featured image by Jill Wellington from Pixabay 

The holidays are just around the corner. While everyone is preparing to buy gifts for their loved ones, savvy small business owners have been preparing well in advance for the season.

If you haven’t started prepping yet, this is a good time to get started. We’ve put together some tips to get your small business ready for a successful holiday season. Let’s dive in!

Set Sales Goals

You’re unlikely to drive up sales during the holidays if you have no goals in place to give you something to reach for. Set up a meeting with members of your team to brainstorm. With them, define what the goals should be by the end of the year. Figure out what you want to achieve, including targets for financial, customer relations, and social media.

RELATED ARTICLE: 5 TIPS FOR REACHING YOUR BUSINESS GOALS

Create a Marketing Strategy

In order to achieve your sales goals, you will want to make sure your marketing team is well in the loop about what those goals are. These are the people who will help to craft effective messaging, holiday-themed promotions, and know how to implement multiple strategies through your various channels.

Don’t be afraid to publicize the fact that you are a small operation in your marketing strategy. People love to support small businesses, especially during the holiday season, so go ahead and capitalize on that.

Prep Your Holiday Season Logistics

Think carefully about the logistics for every department and what they might need in order to be successful in getting the firm toward your goals. This includes prepping your website, stocking up on extra inventory, and investing in additional software. You want your team to be prepared for success, and that will only be possible if they have the necessary tools and resources to do so.

Image by Anton Belitskiy from Pexels

Show Appreciation for Your Employees at the Holidays

It’s more important now than any other time of year to acknowledge and appreciate your workers. They might have to labor longer hours or expend additional mental stamina in order to achieve your sales goals during the next few hectic months. Make sure you show your appreciation for their hard work by throwing a holiday party.

This will be a great opportunity for the members of your team to re-connect while they celebrate all the hard work they have been putting in. The party doesn’t have to be something elaborate that strains your finances. You might consider a potluck where you encourage each employee to contribute one of his or her own treasured cultural traditions.

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Acknowledge Your Network This Holiday Season

When you’re a small business owner, you understand the importance of networking. But it isn’t all just about starting new relationships. There’s also the importance of maintaining them.

Especially at the holidays, how your appreciation for the business relationships you have worked so hard to build. Think about gifts for new business owners. Or consider what the eager and busy entrepreneur might need.

What would make your partners’ lives and jobs easier? Perhaps they mentioned something in one of your previous conversations that you could use to add a personalized touch to your gift. Make them feel heard and valued, rather than mailing a generic holiday card.

Hire Seasonal Employees

Depending on what type of business you run and what your sales goals are, you may want to consider hiring a team of seasonal employees. Give yourself enough time to onboard and train them, of course.

Even though you know these individuals will not be permanent staff members, you won’t want to slack on the training. The better you train them, the higher the quality of customer service your customers will receive during the holidays.

RELATED ARTICLE: HOW TO BUILD A TEAM-ORIENTED BUSINESS CULTURE

Start Prepping Now for a Less Stressful Holiday Season

The holidays can be stressful, but if you start preparing now, you will be well equipped to handle whatever might come your way. Let the season be a time for appreciation and creativity in your communications.

Allow sufficient time to learn more about your audience and customers’ needs by listening to them. Remember, the holidays are less about you and more about how you can serve others.



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Common HR Terms All Business Owners Should Know – Business

October 26, 2021 by Asif Nazeer Leave a Comment


Featured image by cottonbro from Pexels

Human resources (HR) management is a crucial part of running a business. Whether you have a midsize or large operation or you manage a small but growing venture, there are multiple HR terms you’re going to hear and need to understand over the years.

Regardless of whether you have an in-house HR person or team or outsource some of these functions, as a business leader, you still need to understand the jargon. Here are some of the critical terms to wrap your head around.

Outplacement

Workforce change and business restructuring are a standard part of business these days, and many employees will find themselves laid off as a result. When this happens, some companies provide their let-go workers with access to outplacement services. This HR term describes the support individuals can receive in transitioning their careers and finding new jobs.

Outplacement services can include things like career strategy and planning, assistance with writing and updating job application documents, networking help, interview coaching, and contract negotiation for those who land a new role through using outplacement. Firms that invest in such support show that they care about their workforce and their business brand.

Performance Review

A performance review is often an annual or quarterly discussion between an employee and their manager. During this meeting, the leader evaluates and documents the employee’s job performance over the previous period. The pair talk about goals for the future, areas to work on, the employee’s achievements, and more.

This performance review can help make personnel feel more engaged in the company and more focused. For managers, it provides information on where workers hope to go within the company. It also gives them insights on areas in which support might be lacking.

Employee Onboarding

Employee onboarding is one of those HR terms that is fairly straightforward. It is the process of bringing on a new employee in an organization through training. It sets them up in ways that help them be successful in their role. Onboarding can include a variety of tasks, such as doing a background check and filling out employment paperwork. Properly conducted, it also includes introducing people to their coworkers, setting them up in the internal email or intranet system, and showing them the ropes.

Onboarding is important for ensuring new staff members function effectively in their roles. It can also make them feel welcome and part of the team.

Photo by Alex Green from Pexels

Overtime

Overtime is one of the HR terms that people frequently misinterpret. It refers to any hours an employee works that exceed their typical working hours, based on their regular schedule. In the HR world, though, the term is more about the remunerations of this additional work. Some employees are exempt from overtime because of the way their employment contract is structured. If they’re not, they need to receive an overtime pay rate for any hours above their standard.

For many employees, this is 40 hours, but it does vary. The rates of pay depend on what’s set up in their contract. They also depend according to the time of the work, too, with some people getting time and a half or double time pay.

Engagement

Engagement is an important HR term. It refers to how dedicated, productive, interested, and happy people are within their jobs. You need to understand this because you want your employees to like coming to work. You want them to be engaged enough to keep working for the company long term.

The more engaged staff members are, the more effective they are at their jobs, typically. Moreover, the less likely they are to miss days of work. Engaged employees have plenty of energy, commitment, dedication, and flow with their work. They can also help inspire and motivate their colleagues.

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Employee Turnover and Retention

The higher engagement is within a workforce, the lower the employee turnover rate will be. Employee turnover basically refers to how often personnel leave a business. The other side of this coin is employee retention. This is a term that describes how well a company keeps its skilled, productive employees within the organization.

You want your turnover rate to be as low as possible and your retention rate as high as possible. In this way, you don’t have to continually find, train, and integrate new team members. Leaders can achieve this by listening to staff, providing a positive corporate culture, giving out excellent perks and benefits, enabling workers to keep growing and developing, and providing other support.

RELATED ARTICLE: HOW EMPLOYEE TRAINING INFLUENCES CORPORATE CULTURE

Exit Interview

An exit interview is the conversation managers have with personnel who are about to leave the organization. During this meeting, the idea is to learn about the employee’s reasons for leaving and get an idea of their experiences with the firm while working there.

Exit interviews enable exiting team members to have their say. The chats also give business owners, HR heads, and other leaders the ability to pick up on insightful data about what does and doesn’t work about the corporate culture.

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Understanding HR Terms Will Make You a More Effective Leader

These are some of the leading HR terms you need to know. But keep a lookout for others, too. The more you understand key concepts and how they apply to your business, the more effectively you can manage your team.



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Essential Accounting Tips for Small Businesses – Running Your Business

October 25, 2021 by Asif Nazeer Leave a Comment


Featured image by Buffik from Pixabay 

We all understand how hectic the life of a business owner can be. Believe it or not, though, there are some simple things you can do to help your company thrive. To this end, here are some accounting tips that can help.

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Keep Your Personal and Business Finances Separate

Instead of your personal funds being put into a personal account, becoming a business owner means that some business-based finances will be combined with your personal funds. The last thing anybody wants to do is sit down and go through every single shopping list or personal transaction in order to locate that one crucial piece of company information.

To keep things simple, create a new bank account for all of your company expenses.

Follow this accounting tip and keep your personal funds separate from your business finances. Then you will no longer need to waste time sifting through endless transactions.

Make Sure Your Records Stay Organized

Some people prefer a little chaos in their lives, while others find it difficult to concentrate if their papers are unorganized and untidy. That may be okay in your personal life, but when it comes to your books, try to maintain them properly so that you don’t waste time looking for them when they’re all over the place.

Follow this tip and keep your accounting records properly organized. This will save you time searching and allow you to spend more time doing what your business needs from you.

Then, when tax deadlines approach, you’ll be glad you took the time all year to make sure your papers were neat, tidy, and more organized.

Photo by Arren Mills on Unsplash

Stick to Tax Deadlines

Whatever it takes to help you remember that tax deadlines are rapidly approaching, do it. Anything from phone reminders to a countdown will suffice. A looming tax deadline might be anxiety-inducing, especially if you’re rushing because you forgot. You’re more like to make mistakes in this frame of mind. Any errors you could make take even longer to process.

It’s a very simple procedure. Follow this tip in your accounting practices and take note of the tax deadline. Then set a reminder ahead of time so you have adequate time to fill out your taxes accurately without making any mistakes. The rest is straightforward. Your records will be correct and you can concentrate on other things until the following deadline.

Keep Receipts

We’re not suggesting you keep and file every single receipt after each transaction, but you should retain any business-related purchase receipts so that you may claim for any business costs. It all depends on the sort of company you run. If you work from home in the UK, for example, you can claim certain household expenses such as stationery and postage. In the US, the rules are somewhat more complex, so be sure to consult a tax professional for advice.

Keep any business-related purchases or expenditures and file them away in organized records. This is one of many accounting tips that can save you time, hassle, and money.

Photo by Michael Walter on Unsplash

Budget for Taxes

Even if you or your company are making substantial profits, you should pay attention to this accounting tip. Every business needs to budget to pay some of their profit in taxes. Start by putting aside money for this in your budget as you go. This way, you won’t be blindsided at the end of the year.

Use a savings account to set aside a portion of your income to pay your tax bill without difficulty and benefit in other ways from the remainder of your money.

Understand Tax Rules

When it comes to taxes, you should understand which ones pertain to you and your company so that you know which sorts of taxes you’ll have to pay. Income tax, National Insurance, Corporation Tax, Value Added Tax (VAT), and business rates – do your homework on all of them so you know what you owe.

Photo by Kelly Sikkema on Unsplash

Create Profit and Loss Statements

GGM Accountancy defines profit and loss statements as “a financial statement that summarizes the revenues, costs, and expenses incurred during a given period, which is usually a fiscal quarter or year. The profit and loss statement is the same as the income statement.” These records show a company’s capacity or inability to generate profit by increasing revenue, lowering expenses, or both. This accounting tip will help you better manage your business.

Balance Sheet

One of the duties of company directors is to maintain a balance sheet. A balance sheet is a comprehensive record of a firm’s financial assets. It’s critical to know what you should record on a balance sheet and how you should fill it in.

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These Accounting Tips Will Lead to a More Profitable Business

The tips we offer here will help you to better manage the accounting side of your business. And when you can do that, everything else about your company will flow more smoothly, too.

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How to Protect Your Business – Workplace Safety

October 25, 2021 by Asif Nazeer Leave a Comment


Featured image by Voltamax on Pixabay

The Occupational Safety and Health Administration (OSHA) is a federal agency created to protect the safety of all U.S. workers. They put safety regulations in place to prevent job-related injuries, illnesses, and death from occurring at workplace. These regulations are important to follow since they also protect your business from harm.

Reviewing an OSHA compliance guide extensively helps businesses ensure they’re not violating any regulations. Failure to do so could result in some serious consequences. Some consequences can include fines, citations, and even possibly the closure of your business. Here are some ways you can help prevent OSHA violations from occurring in your workplace.

Ergonomics and Workplace Conditions

OSHA requires that your business provide a workplace free of hazards and safe for all employees. That means ensuring the safety of everything from the height and condition of equipment used by employees to the type of work they will be doing regularly. You can prevent many injuries or hazards  and protect your business through proper ergonomic training.

It’s also important to ensure that all work areas are free of tripping hazards, sharp edges, and other dangerous conditions. OSHA also mandates employers provide protective equipment to employees that is appropriate for the work they will be doing regularly. Following these mandates will protect your business long-term.

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Safety Training

Hazardous conditions aren’t the only health and safety issues you should be concerned about regarding OSHA regulations. Provide all employees with adequate training on properly using any equipment or materials that may be hazardous. For example, with certain tools, chemicals, and machinery they will be using on the job.

If you fail to provide any employees with proper safety training, you could face fines or citations. Consider providing ongoing safety training programs to all employees on an ongoing basis to further protect your business.

Hazard Communication

OSHA requires that employers provide all necessary information about chemicals used in the workplace to their employees, including proper labels on containers of these chemicals. You must also train employees how to handle the chemicals safely before they ever come into contact with them.

This is done through the use of Material Safety Data Sheets (MSDS). For instance, you should separate water for drinking or cleaning from the chemicals used in your workplace. Also, employees must have easy access to an eyewash station.

Creating a Safety Committee

Many small businesses fail to implement effective health and safety policies simply because they lack the resources or expertise needed to protect their business. This can be especially true when developing comprehensive workplace safety programs that comply with OSHA regulations.

The best solution is often to create a safety committee composed of employees who can help develop and implement your company’s overall health and safety program. This will make it much easier to identify unsafe conditions in your workplace. They will also advise management on how best to correct them.

RELATED ARTICLE: PROMOTE A SAFE WORK ENVIRONMENT TO KEEP EVERYONE SAFE AT WORK

Employee Exposure to Hazards

OSHA requires employers to monitor the condition of any work environment that could be potentially hazardous. That means having employees conduct air quality tests for safety purposes and checking for things like electrical hazards and toxic wastes that may appear in the work environment.

Conduct these tests regularly and immediately address any identified issues. This will protect your business of any unnecessary hazards.  If your business doesn’t already have an established safety program to monitor environmental conditions, it’s time to create one.

Having Effective Incident Reporting Procedures

OSHA requires employers to investigate any accidents or injuries that occur at work immediately. Maintain an accurate log of every incident that occurs, including the date and time it happened, as well as a detailed account of what transpired.

For example, if an employee is injured when using a piece of equipment, you must investigate why the accident happened. This will help you determine how you could prevent it in the future and what to do to correct it. This can also help protect your business from unexpected lawsuits or legal trouble if handled properly in the future.

Providing Workers’ Compensation

Workers’ compensation is a form of insurance that all employers must provide to their full-time employees. This type of coverage usually provides medical expenses and a percentage of the employee’s salary for time missed from work due to injury or illness.

This can be an important first step in helping your business avoid any OSHA fines or citations for accidents that take place at work. It’s a good idea to consult with a qualified insurance representative to find out the types of coverage to protect your business and to stay in compliance.

Final Thoughts

There are many ways that your business can get hit with fines or citations from OSHA, even if you have a good safety program in place. However, it’s easy to avoid these mistakes and protect your business in the future.

By establishing safety committees made up of employees and having an incident reporting procedure in place, you can do just that. By implementing these types of organizational changes, you should create the type of health and safety program needed to better protect your employees and business from costly OSHA violations in the future.

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Boost Your Business in 4 Easy Ways – Running Your Business

October 11, 2021 by Asif Nazeer Leave a Comment


Featured image by fauxels from Pexels

Owning and running a business can be stressful. You want your company to be successful, so you are also always on the lookout for new ways to boost your business and eliminate any issues.

If this sounds like you, you’re in the right place. In this article, we share our best tips and tricks to boost your business.

Use New Tools to Boost Your Business

Since the advent of the internet, possibilities seem endless when it comes to boosting your business. Every day new tools and opportunities arise seemingly out of nowhere.

But since we have so many options, we can also easily feel overwhelmed. What tools really work? Should you choose free tools, or invest in pricey ones? What’s more, as the owner of a small business, where will you ever find the time to search for the right tools?

There are so many questions that come with trying to choose the right tools. But there are good tools out there for boosting your business. You just need to know which tools are best for you and be clear about the specific aspects you need to look for.

Use a Tracking Tool to More Easily Manage Workers

Do you have multiple employees, some of whom work at home and others who work in the office? In other words, does your office have a hybrid setup?

Of course you want to know exactly how many hours each employee is working. But maybe you don’t know how to keep track of it all. We recommend using a tool such as Papershift. Papershift is easy for employees and supervisors alike to work with.

You will be able to track your employees’ working hours with little effort, since employees will be able to register their work hours with just a few clicks. Then the app will calculate all the data for you. You’ll have an easy method for tracking your employees’ time, but you won’t need to invest much time and effort. And with all that time you save, you’ll be freed up to come up with more creative ways to boost your business.

RELATED ARTICLE: 10 TIPS FOR RECRUITING BETTER EMPLOYEES

Rely on Social Media Marketing

There are so many tools for social media marketing, but you might wonder why you should use this kind of marketing? Well, if yours is an online business, it could be exactly the kind of marketing your company needs.

You’ll find that social media marketing will be an easy way to reach your ideal customer without spending a lot of money. What’s more, you won’t need to rely on traditional advertising that can be so expensive. Instead, you can boost your business by way of a free business page in addition to your personal social media profile.

However, it’s important to remember that you will attract more new customers if you present yourself as a professional. Make sure to show your business in the best possible light. Possible tools to consider for social media marketing are apps and software that help you schedule your posts automatically, saving time as well as money.

RELATED ARTICLE: 7 MARKETING TACTICS TO BOOST TRAFFIC TO YOUR SITE

Try Email Marketing to Boost Your Business

Have you tried email marketing? With email marketing, you can gain an audience through regular email newsletters. This makes it easy to reach your current and potential customers on a regular basis.

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For example, choose a platform like Mailchimp and send out an email with new details or new products. Follow up a few days later with another email. Contacting your customers regularly with minimal effort is an easy way to boost your business and increase sales.

Image by Estée Janssens on Unsplash

Schedule Meetings Like a Pro

Many business owners and workers alike complain that meetings are a waste of time. And sometimes, they are.

On the other hand, productive meetings are an essential aspect when it comes to the success of a company. Regular sales meetings will ensure that people on your sales team, for instance, know about new products. Inform your staff of coming events and trends in ad hoc meetings. Give staff members company news in person whenever you can.

Effective meetings can save everyone’s time. What’s more, everyone on staff will feel a part of the team and they will know what they have to do. To keep meetings effective and productive, use one of the many tools that allow you to schedule meetings with multiple people, such as Google Calendar.

RELATED ARTICLE: THE ESSENTIALS OF BUSINESS INTELLIGENCE

Conclusion

The tools we suggest here, along with others that suit your company’s specific needs, will give you multiple ways to boost your business as it grows.



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The Importance of Clean Energy to Your Business – Business

October 8, 2021 by Asif Nazeer Leave a Comment


Images Courtesy of ERG Air Pollution Control

Businesses have a crucial role to play in the adoption of clean energy solutions. However, a vast majority are unaware of the changes they can make to help the environment.

RELATED ARTICLE: CREATING A GREEN OFFICE ENVIRONMENT IS EASY

The climate crisis is becoming an ever-increasing concern globally. Therefore, the pressure is on for businesses and consumers alike to seek out low-carbon solutions. However, according to a recent survey published by the British Chambers of Commerce, only one in every ten businesses is aware of their carbon footprint. Moreover, only one in seven is setting targets to reduce their carbon emissions.

Businesses have a crucial role to play in the adoption of solutions that help the environment. However, a vast majority are unaware of the changes they can make. So what is clean energy, and how can it benefit your business?

What Is Clean Energy?

The term “clean energy” refers to sources of energy that do not result in the addition of pollutants to the environment.

For example, the burning of fossil fuels is responsible for the introduction of greenhouse gases. Additionally, they introduce PM2.5, which are particles smaller than 2.5 micrometers. These particles contribute to respiratory illnesses and heart disease in densely populated areas.

On the other hand, clean energy sources such as solar panels, wind farms, and hydro-electric dams produce no such pollutants. These cleaner sources of power are becoming more and more viable. In fact, now even domestic households can choose clean energy providers.

Benefits of Clean Energy

Adopting renewable energy sources has the benefit of reducing the amount of air pollution created by fossil fuels. It also has marked benefits in other fields.

The fuels we currently rely on for the majority of our power are, by definition, a finite resource. They also present considerable difficulties in efforts to procure them. A shift to renewable energy sources such as wind and solar negate the supply chain issues inherent to importing petroleum. This leads to a steadier supply of energy and limited possibility of trade-related shortages.

Learn How to Implement Solutions

There are many different angles from which a business can implement clean energy solutions. In the process, it will naturally reduce its carbon footprint. These solutions can be as simple as setting up incentives for employee car-sharing or a cycle-to-work scheme. Either of these ideas would reduce fuel use across the workforce.

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Conversely, they can be as involved as installing gas-cleaning systems to reduce air pollutants created by factory processes. If your business is entirely office-based, switching your business’s energy provider to a clean energy provider such as Ecotricity or Green Energy can go a long way to reducing your carbon footprint.

Businesses Can Help Preserve Quality of Life on Planet Earth While Creating Sustainable Jobs

The sheer importance of clean energy cannot be overstated. In fact, the IPCC warns that current and future changes to our climate may be irreversible. Yearly PM2.5-related deaths could begin to exceed those caused by tobacco.

There is no time like the present to join in fighting the climate crisis. And clean energy solutions are the best possible way to preserve our quality of life and create sustainable jobs in the process.

RELATED ARTICLE: 5 SMART OFFICE CLEANING TIPS AND TRICKS



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Is It Time to Rethink the Urban Parking Lot? – Business Ideas

October 7, 2021 by Asif Nazeer Leave a Comment


Featured image by Kelly Lacy from Pexels

Mostly negative spaces in the urban landscape, vacant except for a few cars, urban parking lots stretch the distance you have to walk between your home and the city’s essentials. For many city-dwellers, parking lots were just a fact of life.

Then COVID hit. People dutifully self-isolated, sticking to their communities and immediate surroundings. And all of a sudden, these “facts of life,” these sprawling urban dead spaces, looked peculiar.

In this article, let’s explore the historically overlooked impact of the urban parking lot. How did they come about? Why are they throttling urban life in so many cities? And finally, what are a few innovators doing to tackle the issue?

The Rise of the Urban Parking Lot

To understand the outsized role parking lots play in urban life, you have to go back to the 1920s. According to US census studies, the 1920s marked a major shift toward urbanization. Whereas a century earlier, 1 in 20 Americans lived in a city, by 1920, that figure grew to 1 in 2 people.

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Concurrently, the 1920s were a boom period of the automobile industry. Soldiers returning from WWI, enamored of new advancements in automobiles like the Ford Model T, rushed to buy cars.

These two historical phenomena—growing urbanization and the rise of the automobile—combined to create, in large part, the cities we see today. As urban infrastructure expanded, planners scrambled to accommodate cars. And one significant way they did so was to create sprawling inner-city parking lots.

As Vox reports, the US alone is home to a billion parking spots: four spots for every car on the planet. And many urban areas devote more than half their real estate to parking. 

Dead Spaces

People have cooled on cars since the mid-1900s, at least in inner cities. Access to robust public transit options, taxis, and (more recently) rideshare apps has convinced many city-dwellers that they don’t really need a personal vehicle.

But parking lots remain, the relics of an era obsessed with cars. At best, they are an inconvenience. At worst, urban parking lots geographically isolate communities from necessities, small businesses, and each other. 

Photo by Wendy Wei from Pexels

Paving the Way Forward

Thankfully, some innovators are rethinking the parking lot. REEF saw the untapped potential of parking lots and is working to transform them into community hubs. They currently operate an ecosystem of 5,000 locations, using parking lots to host delivery kitchens, micro-healthcare clinics, grocery stores, open-air markets, vertical farms, and other community-focused resources.

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By rethinking these large swaths of unused real estate, companies like REEF hope to connect communities with small businesses. Rather than drive your car four blocks to shop at a box store, you can pop over to the lot next door—now a thriving neighborhood hub—and shop locally. You can give your money back to the community, and hopefully enrich everyone’s urban experience.

To summarize, North American cities were built with cars in mind. But often now, urban parking lots sit unused, dividing people from their immediate communities. The way forward will involve rethinking parking lots, viewing them not as empty “facts of life” but as potential focal points of social and commercial activity.

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What Can Owners Do to Protect Their Rental Property Investment? – Ideas

October 6, 2021 by Asif Nazeer Leave a Comment


Owning and managing rental property is a superior real estate investment opportunity because of the passive income you stand to earn.

But no investment is without risks, and the rental property business certainly has its fair share of potential liabilities.

In this article, we outline six helpful strategies property owners can use to protect their rental property investment.

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Carry out Careful Tenant Screening

Tenants are the primary residents of a rental property. So unless you live on the premises as well, your tenants hold your investment in their hands. They are the ones continuously in contact with it. Thus, it makes sense that when sorting through tenant applications, you take your time to screen potential residents carefully. Run background checks, ask for references, and create air-tight leases. Ensure you leave your investment in charge of responsible adults.

You should also check the conditions of your units through regular inspections and between tenants. Collect and keep time-stamped pictures and videos when possible. No matter how trustworthy and sincere your tenants may seem, it’s better to rely on hard evidence rather than testimony in the event of a dispute.

Study Landlord-Tenant Laws Carefully

The best way to avoid legal minefields is to be familiar with both local and national landlord-tenant laws. It’s essential to adhere to these rules strictly. Doing so will help you avoid a lawsuit that could land you with a heavy fine or threaten your investment in other ways.

You should also familiarize yourself with fair housing laws. Treat all your tenants equally, as discrimination suits can quickly get messy. The best way to avoid such civil claims is to have a written tenant selection policy that justifies your reasons for accepting or rejecting tenant applications.

Prioritize Home Security Measures to Protect Your Rental Property

Smart real estate investors take home security seriously. Many external and internal elements may pose a threat to your rental property. It falls on you to avert these mishaps.

Luckily, you can take full advantage of the fact that we live in a digital age to adopt smart home technologies. Surveillance cameras and security lights can dissuade burglars and trespassers. Smart alarms, thermostats, and other home systems can improve rental maintenance by alerting you to pending problems. Property owners have several options for tools that can help protect the safety of their tenants’ lives and properties.

Get Insurance on Your Rental Property

Image by mohamed Hassan from Pixabay 

Owning rental property includes many risks. You’re liable for damages from the roof of the building to its foundation. Moreover, when accidents happen, they can be costly to repair. Property owners with homeowners’ insurance have extra safety because they don’t have to pay out of pocket for such mishaps. The insurance company takes care of the bill. However, it’s crucial to note that the packages vary. So make it a point to study the various coverages and choose the one that suits your needs and budget.

Set up a Limited Liability Company

You can take it an extra step from insurance and form a limited liability company (LLC). This process separates your personal assets from your business assets. By legitimizing your rental business as an LLC or other corporate entity, you curb the risk of losing everything in the event of a lawsuit. After setting up your LLC, you can transfer the deed of your rental property to the company. If a tenant should decide to sue you, you don’t need to worry about your home, car, or other assets being used for remuneration.

RELATED ARTICLE: FORMING AN LLC: 3 COMPLIANCE MATTERS TO CONSIDER FIRST

Vet Employees and Contractors Who Work on Your Rental Property

Managing a rental property is a lot of work and doing it yourself can be tedious. So it’s not unusual for property owners to employ workers to lighten the load. These could include regular staff like a property manager, a janitor, a gardener, or on-demand contractors like an electrician or a plumber. Although these employees are meant to reduce the workload, you could still encounter the rare difficult ones. Take the time to read their reviews and conduct in-depth interviews before hiring.

If you plan to file their work in your tax deductions, ensure you classify your employees appropriately to avoid getting into a hassle with the IRS. It’s also a good idea to keep a copy of your contracts and agreements.

Conclusion

You can’t be a property owner without taking on some risks, but it can be rewarding if you know how to mitigate those risks and protect yourself and your rental property.

Still, it’s helpful to have the best players on your team. Hire a professional who understands the business. They can help you develop clear strategies to minimize your liabilities and maximize your profits.

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6 Writing Tips – Ideas

October 5, 2021 by Asif Nazeer Leave a Comment


Featured image by VectorMine

Working in content writing and marketing, writers and marketers are tasked with creating engaging articles that will grab the attention of potential readers and entice them to buy into your product. Sounds relatively easy. But how often do you find yourself overthinking a piece of copy? How much time have you spent agonizing over the tiniest detail, making sure what you’ve written is watertight, factually correct, and perfectly articulated?

Once you’ve got your engaging headline and opening sentence where you want it to be, you still have to make sure the rest of our text is readable, engaging, and on topic. What’s more, you want to do so without it being too obvious that yes, you are trying to get your readers to buy into your businesses and services.

There are a few tips that marketers and content writers can follow to make the process simpler while still producing high-quality blog posts and content that both engages your readers and gets your central point across.

Look at the Way They Speak to Each Other

When you get down to writing, remember to get out of your own head and gauge your language to your intended audience. This is a critical part of creating content. You want to speak directly to your reader and solve the problem and intent of their search or visit. Too many articles try to cover all bases. Research is vital to this process, but a good point made simply will beat out a dissertation on a topic. Especially from your reader’s point of view.

Spend Less Time Trying to Get to Your Word Count and More Time Communicating with Your Writing 

So many articles you read try to impress you with complexity and bulk out the article with superfluous points. The majority of people who read our articles aren’t looking for unnecessary fluff. There’s specific information they’re looking for, and if they don’t find it quickly, they won’t hang around. Try out bullet points in your writing. Or use a breakdown or a table for size.

  1. The clearer and simpler you make it
  2. The easier it is to get your point across
  3. And encourage a reader to actually finish reading the entire
  4. Piece of content you have spent so much time working on

See what we mean? How much easier was that to digest?

SEO is important but content relevancy is increasingly as strong a factor as word count. Focus on the quality and relevancy of the words you use and succinctly communicate the point you want to get across. This is the goal.

Use Short Sentences and a Conversational Style in Your Writing

As David Ogilvy, a real-life “Mad Man” and advertising guru, once said,

This pearl of wisdom was sent as a memo to his own employees. It is included in the book, The Unpublished David Ogilvy.

Keeping your sentences concise and your paragraphs short makes your content easier to read and digest for your readers. Making a point as simply as possible will always beat a dissertation level analysis when writing an article. When you look at newspapers, for example, they use shorter paragraphs. This makes it easier for readers to absorb the key points of the articles.

Writing in a conversational style is a good way of making sure you keep your writing

You’re not writing an academic paper, so you don’t need to flesh out each section as if you were.

Focusing each section on a single purpose and knowing what message you are trying to convey will help keep your writing relevant and succinct. The writer has identified their main focus for the section in this article about warm weather walks and running on myfitnesspal and they have clearly laid out the topic, keeping the article simple yet informative.

Get Something Down and Edit Ruthlessly: As a Writer Don’t Get Attached to Your First Draft

The first draft is where you can inject passion and energy into your writing. A boring first draft will never become a sparkling final piece. Our favorite technique is to throw energy into the first edition and then use the editing process to bring it back to factual reality. When you get to editing, don’t get sentimental about anything you’ve included in your first draft. Difficult, I know, and it can be a real wrench to cut things that you’re proud of but ultimately don’t fit. But be pragmatic and objective about your writing.

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Don’t worry about editing and correcting as you go. The important part here is to get your initial thoughts written up so you have something to work with and build on. Once you have your early ideas down, then you can go back, rewrite, fine tune, and expand on those thoughts and ideas. If you’re writing an article around a topic you’re not overly confident about, powering through an initial draft will give a foundation to work from.

Drop the Words That Mean Absolutely Nothing

Like “absolutely” in this title. Why do so many content marketers either write such poor and unambitious content or laborious and pompous business-speak? You’re not impressing anyone. The only goal of your writing should be to communicate your point clearly and effectively. People reading online articles typically are looking for something quick and easy to read. They don’t want to spend a lot of time wading through long-winded paragraphs to get to the point.

Enjoy the Process

We all have to write articles that we don’t feel inspired by from time to time, but it doesn’t mean you have to write uninspiring articles. Finding a unique hook or telling a story can lift your writing, make it more engaging, and improve the performance of your article.

In Summary…

There isn’t a magic formula or secret recipe when it comes to content writing. But there are some general guidelines that writers can follow to make their content pop on Google and grab potential readers’ attention. Being direct and choosing your words wisely helps to keep your sentences concise and paragraphs short. Using a natural, conversational tone in your work makes it more approachable for readers who are more likely to read on when you stick to those basic principles.

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About the Author

Fred Jéquier works in marketing and partnerships at TeamUp. He has a background working as a content writer and SEO content editor in the travel and fitness industries. Connect with him on Linkedin.



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