Monday, February 19, 2018

Pound For Pound: Efficient Ways To Punch Above Your Weight

Small business far outweighs large businesses in so many different areas. First of all,
small enterprises employer much more people than any collective of multinationals can
or ever would. Another perhaps the best trait of small and might companies is that they’re
so easily able to adapt to harrowing situations like economic downturns. They’re also
more likely to be more attractive to the majority of investors. This is all because the
business is at such a stage where all this can happen. Large businesses get a certain
size and then begin to cut down in an attempt to stave off any losses. It's similar in a
way to small businesses because they are trying to increase in size but do so in such
a way that they’re not exposed. This means that even while upsizing, small businesses
cannot become lazy. Trimming the fat and becoming efficient will only help you to punch
above your weight harder and faster.

Image by Phil Whitehouse

Stock your departments carefully

You see waste happen in large corporations all the time. This is simply because they are
so huge that small mistakes don’t get the attention they deserve; until they overflow.
This usually happens in the number of employees they hire. It's why they can afford to
lose thousands of people at one time at all. It's a clear giveaway that they were overstocking
in the first place. Do not be this kind of business. Make sure that your marketing departments
aren’t filled with more brains than your research department. Development is another area
where you should allow yourself to hire more staff so you can speed things up. Social
media shouldn’t get its own department and instead merge with the marketing team.
Think of ways such as this to keep employee numbers in check.

Photo by ar130405

Strategic leadership

It isn’t just the number of employees in each department that is important; it's also the
people who lead them. As the leader of a business, you might have the vision but lack
the understanding or knowledge of how to organize your company. One of the best ways
to realize strategic leadership is to take an accredited course. The roi of mba courses is
something that keeps on increasing. Once you are able to put your course knowledge into
your business, you’ll understand the importance of strategic leadership. Planning and
development are just one of the key areas you’ll be covering. This will go into the inner
depths of how you intend your business to grow. You’ll look at how you set the revenue
and profit targets for your business as to not overestimate what you’re capable of. On
the other hand, you’ll also learn how to place people with certain strengths and weaknesses
in keys parts of your company structure. As you grow and grow, this knowledge will
continually serve you well to remain efficient and level-headed.

Cutting down the size of your workforce can be good and bad. It's always bad to lose
people, but this can be avoided by not over bloating your size by needlessly hiring more
than you need. Making sure you ask more of your employees will help improve productivity
and make sure you’re creating positions as and when you need to. Equally, it's vital to
organize your business structurally so realistic expectations are able to be chased and

Friday, February 16, 2018

Buy A Mortgage Not Rigor Mortis

Mortgages are complicated and centre on money, obviously. However, flexibility can
often be the most important asset of a successful loan application. Strict terms and
conditions allow rigor mortis to set in, and that, in turn, causes monetary problems.
Considering the property may be on the line, you can’t afford to miss a payment and
mess the bank around. A flexible mortgage provides homeowners with the security for
adjusting the terms to benefit them in the long run. For example, you can vary the amount
you pay back each month depending on the circumstances.

If you think that’s cool, wait until you check out the following.

Cut Interest Payments

Like all bank loans, mortgages work by charging extra on top of the initial agreement.
Over the course of 25 to 30 years, the amount an average property owner pays in interest
can be thousands of dollars. Of course, it’s better to avoid these penalties and keep
the money in your pocket, which is where a flexible mortgage comes into play. Because
you can pay more than the required amount each month, you can lower interest payments
by reducing the ‘principal balance.’ Remember that the sooner the contract is paid in full,
the more you will save.

Avoid Bankruptcy Or Collateral Debt

Typically, there is a dire consequence for missing a loan payment. Sometimes, it can
result in bankruptcy and others it can result in losing a prized asset. Mortgages are no
different and everyone who agrees to terms is in danger. Thankfully, a flexible arrangement
gives the buyer enough bend to move the goalposts. For instance, you may reduce
the monthly amount to match your earning potential. A mortgage modification prevents a
property disclosure and allows you to keep the house. Always get help before negotiating
new terms. After all, one slip could make things worse.

Pay Less Overall

There are two main types of mortgage: a fixed and variable rate loan. As the names
suggest, the rates are either set in stone or change over time. Usually, a fixed rate option
is the best deal because the market can be unpredictable. Therefore, it’s a massive risk
to opt for a variable rate over a long-term contract. However, a flexible loan allows you
to pick and choose. Therefore, you can switch between the two when the interest rates
rise and fall. Over the course of the mortgage, this feature should save you a small fortune.

Miss Payments

It seems inconceivable that people can miss loan payments, but it’s true. A mortgage
agreement that isn’t strict allows homeowners to forego a certain amount before the
terms change. Of course, everything has to be agreed to beforehand and you can’t
decide halfway through a deal. However, a grace period may provide you with the
perfect safety net when things get tough. It’s especially beneficial for the self-employed
and workers whose wage fluctuates over the year. Please check the terms of the
loan before withholding payment.

The pros are pretty conclusive. Still, are they enough to make you change tact?

The Downsides of Freelancing That People Rarely Talk About

To many people, freelancing seems like the ultimate career choice for people who love
freedom and want to break out of the monotony of a regular 9-to-5 job. Sadly, there are
many aspects of freelancing that just aren’t talked about very often. This usually results
in a poor understanding of freelancing and many people ruin their careers because they
jump the gun too soon and fail to grasp just how difficult freelancing can be.

Of course, that’s not to say that it’s the toughest career choice out there. There are many
situations in which freelancers can flourish, but it’s not as common to be a successful
freelancer as you think and many struggle to get by. To help clear up some misconceptions
and help you understand freelancing better, here are a couple of downsides that you
should keep in mind.

Are you too creative and passionate to stick to a regular job? Freelancing might be
the cure, but it still requires a lot of work! (Image Source)

Passion Is Important, but Realism Is Even More Crucial

Are you an incredibly skilled artist? Were you top of the class with your writing skills?
Did you get the best grades in your engineering course? That’s fantastic and all and
you’re probably passionate, but you need to be realistic when you want to become a
freelancer. For example, if you’re an artist then you shouldn’t expect to just draw whatever
you want and make money for it. You’re going to get plenty of people
asking you to work for free and you’ll end up drawing things and shaping your art around
what your clients ask of you.

Similarly, your writing skills don’t mean that you’re going to be able to write a novel and
sell it instantly. To gain exposure, you’ll likely have to start a blog, start writing articles
and other small bits and pieces that you never expected to and slowly build up that recognition.
You can be passionate about something and it will help you out as a freelancer, but you
need to remember to be realistic and flexible.

There Are More Responsibilities That Will Drain Your Productive Time

We’ve all heard the saying that time is money, but rarely do we ever feel the effects of it
until we’re involved in freelancing. From doing your tax return to chasing clients for pay
and emailing pitches to different publications, it’s important to focus on these tasks because
they mean a lot to your livelihood as a freelancer. You need to get paid hence why you
spend hours chasing clients with invoices, and you have tax responsibilities as a
self-employed individual so you need to manage your finances as well.

All of these responsibilities will eat into your productive time, so you need to include
several extra hours per week in order to sort them out. Many people will tell you that
they work for 3-4 hours per day and make more money than a 9-to-5 job, but what they
don’t tell you is that they’re also stressed out from managing their own taxes and they
spend their evenings chasing clients for payments.

Wednesday, February 14, 2018

Reasons Why You Are Not Making Money Online

If you have been trying to make money online for some time now but find that you are
constantly coming up against a brick wall, you need to identify why this is. While there
is a myriad of possibilities, there are also some common themes which come up time
and time again when it comes to the reasons you are not making money online. So,
let’s take a closer look at these to help you zero in on the issues that you may be having.

You Don’t Truly Believe in it

If you don’t have total confidence that you can make money online in the first place,
you are unlikely to be able to get much further. In fact, more and more people are turning
to the internet in all lines of work, so it may help you to read a few success stories or
even attempt to contact people who know what they are doing, allowing you to speak
to them directly.

You Are Looking for the Easy Way Out

While there are some simple ways to make money online, they are unlikely to be the
most profitable ones. Instead, you need to try and carve out a specific niche for yourself
and focus on that as much as possible. And you also need to first accept that you may
not be hugely successful in the first place or make money straight away. It is only once
you get the ball rolling that you can start to enjoy the spoils.

You Are Not Getting the Right Advice

Do a quick Google search and you will be inundated with articles about how to make
money online. But before you start reading through everything that you find, you first
need to check the source. There is no point taking in information that is going to be of
no use to you. If you are trying to get into betting, take a look at as a starting
point. If you are planning on making money through blogging, read through articles of
successful bloggers who already know what it takes to succeed and can do the same
for you.

You Are Trying to Do Everything at Once

As we have already touched upon earlier in the article, a lack of focus can bring you
down. So, before you try every method under the sun of making money online
(freelancing, blogging, teaching etc) try focusing on just one. Otherwise, it is highly
likely that you are spreading yourself too thin and you are never going to be able to
enjoy the success you are looking for.

Obviously, there are plenty more reasons why you may not be making money online,
but if you have identified some of your own characteristics in one or more of the sections
listed above, now is the time to do something about this. First of all, you need to believe in
what you are doing. Then, you need to stop looking for the easy way out and find the right
advice to follow. Finally, ensure that you remain focused.

Tuesday, February 13, 2018

From Small Time to Superstar: How To Approach Scaling Up

Getting a business off the ground takes determination and skill, so if you’ve managed to
successfully start your own company last year, hat’s off to you. But you may never hit the
big leagues if you don’t start thinking regarding scalability. That means the growth potential
that your company has – taking on more business without losing revenue or turning in a
weaker performance. But you need the right processes, people and mindset to make it
from small fry to superstar. Here’s your roadmap to scaling up…

Get Foolproof Fundamentals

It might sound boring, but getting the basics right is absolutely key – premature upsizing
can tip your business into cash flow problems and failure. You need to make sure that you
understand implicitly who your customer base is and what they want. What marketing channels
are generating the best return on investment for you? What user feedback have you got
about improvements that can be made to your core product or service offering? You need to
have complete certainty that your offering is right and that the audience is there for it. Then,
you need also to make sure that you have sufficient resources in place to scale up. What
investment is required? Will you need more capital? What sources of funding are available
to you or what do you need to do to seek more? Typically, scaling up with need a cash
injection and there may be a delay on seeing the profits.

Find The Right Contacts and System

So much depends on being able to find reliable suppliers that can also assist you in scaling
up operations. First of all, you should invest in automating as many business support processes
as you can. If you haven’t already, prioritize looking into cloud storage systems, onboarding
and training for any new employees, payroll and invoicing and others. All your systems need
to support your need to access data quickly and securely, make financial decisions quickly
and get the people you need. You also need to ensure that you’re working with the right
suppliers to make your growth possible, and if not find new contacts who can specialise.
Look at companies such as Red Stag Fulfilment to make sure you can process volume
orders across a wide geographic area and Sage for online invoicing.

Define Your Marketing Strategy

If you’re expanding into new regions or product sectors, you need a robust plan for spreading
the word before launch. Content marketing is vital to spread the word about what you do and
get potential customers interested. Could you partner with a complementary brand to
introduce yourself to their customers? Could a targeted advertising campaign on social media
be narrowed down to your specific target demographic?

Get The Right People

Being able to expand successfully means embracing delegation, which can be difficult for
small business owners used to having to take care of every detail themselves. So make
sure you have the best people in place to support you. You need individuals who are
multi-skilled and creative at problem-solving to give your business the best chance of
success in a new market.