5 Common Financial Mistakes That Kill Small Businesses

If you’re a CEO of a company or even a General Manager – you’ll know how much difficult it is to run a business, in this age of competitiveness. You not only have to keep track of all the daily activities of the company, but also its employees, and even new product launches as well. Therefore, with so many responsibilities, it is just hard to keep track of everything in the right way. And this is why most of the times, a certain business or organisation fails to create an impact on the market

But, the main thing that most businesses overlook, is the financial department or bookkeeping. Money is the start and the end of all kinds of problems. So, without much talking, let’s jump on some of the common financial mistakes that kill small businesses.

5 Mistakes From A Financial Standpoint Killing Small Businesses

  • Not Taking Note Of Unexpected Or Hidden Expenses : Running a business means having to face unexpected expenses, at any point in time. These expenses can be in the form of anything. For example, the expense can be in the form of company licenses, employee benefits, and various other additional expenses. Therefore, it is always recommended to keep a provision for costs like these, so that they don’t go out of hand later on.
  • Overspending On Sales : It should be kept in mind that, more sales doesn’t mean more spending in the marketing department. For effectively spending on sales, the company has to look at the Customer Lifetime Value (CLTV) vs. Customer Acquisition Cost (CAC). If the CTLV is greater than CAC, then only it is worth spending on sales.
  • No Management Of Cash Flow : It is very much required for a company to have sufficient revenue and profits, to have sufficient cash available at any given point in time. So, if the expenditures of the company exceed the overall revenue, then the company might incur losses, and thereby go into liquidation. Thus, management of cash flow is very much essential. This is the reason why a bill counter machine is used in most businesses, in order to track the revenue.
  • Having Huge Overhead Costs : Overhead costs are those costs that are incurred while doing a certain kind of production. Therefore, excessive rent or unnecessary subscriptions are examples of overhead expenses, that should be kept in check. Having a simple budget will greatly help in visualizing the overall expenditure.
  • Having No Financial Plan Or Model : Having a particular financial plan is utmost necessary for running a business or a company. This will help in avoiding any unnecessary costs or expenditure. It will also help in sustaining the company for expected future benefits as well. Without no financial plan, is like having a ship without a radar.
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10 Smart Ways Businesses Should Be Using Video

Use of videos for marketing is the new trend to quickly get across the information you intend to convey to your audience. So as a small business owner there are plenty of ways in which you can use videos to strengthen your marketing approach and to enhance customer experience and customer engagement.

  1. Tell them who you are. Videos can give a great first impression of your business when it is new.
  2. There might be several businesses out there doing similar things. Use videos to show the audience how your business is different from the rest of them.
  3. Use influencers in the videos in order to get to the customers easily. The influencers would have gained the audience’s trust already and this trust would make it easier for the audience to accept your business.
  4. Make use of videos where real customers talk about their experience with your products or services. Customer recommendations are the strongest marketing tools for any business.
  5. Use the video channels to talk to your customers about your company culture. Customers do get influenced when they get to know your company culture and the way you treat your employees.
  6. Talk about the sustainability measures you have incorporated in the videos. When customers know that they are working with a business that cares for the society and takes its social responsibility seriously they would feel more confident in trusting the business. This would help create a long-term
  7. Keep the videos informative. This way, besides knowing about your products and services customers would also have something to take away from the video and this would mean that you value their time.
  8. Use videos to talk about any new products or services that you plan to introduce or expansion plans
  9. Thank your customers for their support, through videos.
  10. Use videos to give a brief about your company history and why the business was really incorporated.

Buying youtube suscriptores is quite simple these days. When you increase your fan following more customers would be tempted to start following your channel.…

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7 Technologies Driving The Future Of Customer Experience

Businesses make customers happy to come back after seamless experience and the year 2018 is the year of customer satisfaction. Undoubtedly, technology is one of the latest role to play in customer experience. These are 7 Technologies Driving The Future Of Customer Experience in this article.

  1. Companies Make Customers Stay Due To Improved Churn Prediction

In the market, finding customers, connecting them to their most suitable product and brand and retaining customers is a big expense for companies. In 2018, technology is so advance that if customers go for another product, place, or brand they’ll know it even before the customer!

  1. Instant Customer Service & Faster Delivery

due to technology, the next customer experience frontier is instant delivery although it is impossible. However top online stores like Walmart & Amazon have same day /2-hr delivery options for better customer experience.

  1. Instantaneous Customer Feedback

Customer feedback forms and online departments have almost replaced customers going in person to the counter to complain about a product. Due to smartphones with top cameras and super fast internet to upload the same it is now easier to give feedback even from other geographies. So, this also drives product improvement in 2018.

  1. IoT (Internet of Things) Era

By the end of 2018 smart things like bottle of coffee beans or a milk carton giving a pop-up message about when it approximately gets over, etc. This helps in hotels & restaurants getting fresh goods just-in-time deliveries.

  1. Anomaly Detection

Due to artificial intelligence and computer learning advancements, it will be easier to detect complex anomaly by the beginning of 2018 giving greater value opportunities & purchase decisions that will up marketing.

  1. DIY (Do-It-Yourself)

Everything is simplified and customers now find it easier to carry out complex processes from everyday product use to anything. This could be medical care, university admissions, automotive repairs and sales.

  1. Personalization

Personalizing customer experience because of enhanced data usage is now a north star in 2018. This includes aligning legacy systems and coalescing data streams for operations. It is used for customer experience and even on ship sale at 4yacht.com too.…

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Top 10 Reasons on Why Sex Sells

When you walk into a shop, you see an array of magazines stacked up in front and it is quite tough not to notice half dresses women or model on the magazine cover.  People are so used to that now. Have you wondered why?

Human nature- Human nature is driven by animalistic instincts and sexual desires.  While you watch videos on the internet, movies at cinemas or TV programs, everything is flooded with advertisements of perfumes, cars, foods, etc that are being promoted by an attractive and fit model.

Grabs the attention – For instance, in an advertisement, you see an extremely sexy looking lady eating a flavored yogurt. The viewer will try to image being with her or imagine themselves to be like her. And the next time when he or she passes the shop wherein the product is kept for sale; they will feel like picking that product just to have a fell what it is like.

Looking for new experiences- There is even so much craze for sex-toys as people are waiting to try out new things and wants to have a different experience. There are many websites and products like loveplugs which is in demand because of the sexual desire each and everyone has.

Attraction- Even in films, sex is used as a selling tactic even when the script does not demand.  It is no secret that the humans find other human’s appearance fascinating and it motivates them to do many things.

Other reasons are:

  • People want to get away from the boredom of their routine life and these advertisements give them hope
  • Secret desires come true in advertisements
  • Comes along with genetics in human body
  • Tried and trusted theory
  • The desire to be someone else or be in somebody else shoes
  • Easy to relate to
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The Most Important Business Communication Skills

VoIP business’ services are used by most organizations at some point or the other. To find the best VoIP providers thevoiphub is a great place to start. Such businesses thrive on their superior communication skills. And every business, every employee has a lot to learn when it comes to business communication. Even the best talents would need strong communication skills to back them up.

If you are planning to work on your business communication skills then here are the most important ones –

  1. The art of public speaking

Speaking to a group of strangers can be daunting and if the group is large then it could be even worse. There are public speaking courses that can help you overcome this fear of addressing the crowd. Being able to strongly voice your opinion in a crowd and being able to make yourself heard are important traits of leadership.

  1. Written communication

Honing your written communication skills helps you draft different types of emails based on the purpose of the email and the receiver. Written communication also matters when it comes to the creation of permanent documents for the processes.

  1. Listening skills

When you listen more than you speak you would be able to create a collaborative work environment and this is very much important for working in teams.

  1. Body language

Besides the words you utter your, body language cues tell people a lot about you. Right from your posture at your seat to the way you confidently make a presentation work on your body language to send out the right signals about you.

  1. Presentation

Even the greatest idea would be of no use if you do not know how to present it. Meetings and conferences happen often. So work on your presentation skills to learn the knack of getting across your information without any ambiguities.

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7 Tips And Why Should Inspire Your Employees

A company or a business is not just the product or service and the business owner alone. The success of the business cannot be attributed only to the brain behind the business. Each and every employee forms a part of the company and contributes his share to the success or growth of the business.

Why Motivate Employees

It is very important to stay motivated in a business so that we can give our best and push ourselves to do more and do better. Similarly, it is important to motivate your employees too, because without them the company could not have grown and succeeded in what it is today. Even if the growth has not been anything to feel proud of, every employee is responsible for whatever the business is today. Motivating them will only help you improve.

How To

If you need some inspiration and ideas to motivate your employees, you can always read a number of entries on Truly Coin and similar websites. However, here are 7 tips to motivate your employees:

  1. Have a regular meeting where you talk about how well the company or business has done so far and thank them all for their efforts, however small it may be
  2. Acknowledge each person’s effort no matter how well it turned out. Appreciating efforts will make them do better and not give up, rather than appreciating only good work
  3. Have a reward for the best performer to make them compete and push themselves harder
  4. Have a team outing on a regular basis to boost team building and compatibility among team members. This will enable them to do better as a team
  5. Have a guest speaker once in a while to come and inspire your employees as a whole. Some may have a biased feeling towards you or other employees. When it is an outsider, everyone is more open to the topic of discussion
  6. Have a weekly relaxing session to show you care for their mental health too. This could be simple dinner, a potluck meal if you don’t have the budget or just a small game within the office
  7. Have a family day once in a while where the employees can bring a member from the family and show around. Everyone wants to look good in front of their family and these visits will motivate them to do better.

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7 Indicators of Future Business Success

I remember meeting the CEO of a middle-sized automation company that now does 10 million dollars in business with huge giants like Nike, Adidas and Walmart, at the time no one respected him nor believed in him, they assumed that he was just someone suffering from delusions of grandeur and would fail quickly. Most people thought that a skinny and frail Mixed Jewish, Chinese and African American who was bullied during his school years would manage to make it big in an industry that many people weren’t even sure would work in the slightest.

There are a couple of indicators that can tell you if a business has a decent chance of being successful.

Here comes our list of the best indicator of future business success:

  • Chip on Shoulder

The man, whom I will identify as LYM, was a frail immigrant who was bullied during his years in school. He was of mixed Jewish, Chinese and partially Afro-Carribean ancestry. For the most part people didn’t take this skinny man that seriously, he was a nobody to most people and even when he made it to a great business school nobody thought much of him.

  • Strong work ethic

Work ethic was strong in LYM, he was not only a very hard worker who managed to get a 30+ score on the ACT (top 1% of his school and top 5% of his class) but he could also work in-human amounts of work at a time. He once went for 24 hours straight on just coffee alone trying to fix a problem that was in the automated robot arm, he spent 18 hours tinkering with individual components and 6 hours managing to fix the component he identified as being faulty. This kind of work ethic is what can make or break a business.

Other signs:

  • Execution
  • Expertise
  • Need to prove oneself to others
  • OK with risk taking
  • Persistence

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How Debt Limits a Business Options

It’s widely debated whether or not a little debt is a good thing for a business or if it can harm it. Here, we will take a look at the argument that debt limits a business’s options, to help you make the best decision for your circumstance. If you need more help on manging business debt, you can discover more at debt free life.

When used correctly, borrowing money can be a good way to grow your business. However, it is easy to misuse debt and get into further difficulty. Depending on the nature of your company, borrowing money can be expensive. If you don’t have a solid business plan or you work in a risky field, banks will be reluctant to lend you money.

When you are having to use large amounts of your cash flow to repay debt every month, it can affect your ability to make the most of new opportunities. If you aren’t left with much cash at the end of the month after repaying a loan, you won’t be able to afford to invest in other opportunities which may come your way.

You should also keep an eye on interest rates before deciding to borrow money. If you borrow when rates are low, you can borrow a bit more without suffering when repaying later. As well as debts, investments also affect a business’s options for the future. Any profit you made will usually be shared with the investor, meaning you will see less profit from your efforts.

Another major issue with borrowing money to finance a business is that in certain cases debt collectors can come after your personal possessions if the business isn’t performing well and is falling behind on loan repayments. Laws vary between states, so be sure to research this before going ahead with a business loan.…

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The Ultimate Equipment and Products For Industrial Use 2018

The Industrial kitchens and those of commercial outlets have a lot of cooking, sautéing, steaming, baking, and much more. All these cooking activities requires several different types of electronic appliances. The freezers for restaurants is another important electronic product required to run the commercial enterprise. It is needed to keep the food cool and stops it from getting spoiled.

These products are of various sizes, shapes, colors and perform different functions. Some are counters that are refrigerated to keep fruits /vegetable salads fresh, at at the same time it displays pizzas of all sizes & shapes. Other products include blast chillers, milk coolers, chest freezers & even walk – in freezers. Check out the basic features of equipment and Products For Industrial Use 2018

below: –

  1. Under Counter Freezer: These are compact and smart refrigerators that fit under the restaurant counter top. They are best suited for smaller space restaurant kitchens or as secondary units in larger cafeterias or bars. There are single compartments and others with smaller pull-out compartments to organize various items like milk, ice-cream, garnish, etc.
  1. Roll – In Freezer: These units are specifically designed to store big amounts of stuff. They are ideal for cafeterias, food courts, bakeries, and restaurants that have a rush most of the time. The highlight for these freezers is the roll – in racks that organizes stuff. Staff can easily locate stuff and also roll-in stuff easily while loading it with eateries.
  1. Walk – In Freezer: These are high capacity units made especially for enormous quantity of food & beverages that are kept for annual preservation. There are models even you can assemble and those that require professional installation. Other models come with or without base flooring so that you can make a customized product as per your requirement.
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