https://priceofbusiness.com Fri, 14 Dec 2018 02:21:55 +0000 en-US hourly 1 How Business Analytics Can Save Your Company Money  https://priceofbusiness.com/how-business-analytics-can-save-your-company-money/ https://priceofbusiness.com/how-business-analytics-can-save-your-company-money/#respond Fri, 14 Dec 2018 02:21:55 +0000 https://priceofbusiness.com/?p=17780 Reading Time: 3 minutes If you have been considering the implementation of a business analytics program in your business, you’ve undoubtedly uncovered several good reasons to do so. From making better business decisions to staying ahead of industry trends, analytics is changing virtually every... Continue Reading →]]> Facebooktwittergoogle_plusredditpinterestlinkedinmailReading Time: 3 minutes

If you have been considering the implementation of a business analytics program in your business, you’ve undoubtedly uncovered several good reasons to do so. From making better business decisions to staying ahead of industry trends, analytics is changing virtually every aspect of how companies are operating. Perhaps the most compelling reason to invest in business analytics, though, is the simple fact that using the insights gleaned from your company’s data can save a significant amount of money every year.

As you develop your budget and explore ways to make better use of your resources in the coming months and years, consider these potential money-saving benefits of using business analytics.

Improved Building Efficiency

In many companies, the costs of the building — and all the equipment, utilities and supplies used to run it — are seen as fixed overhead costs, and thus nothing can be done about reducing them. So when revenues slow, cost-cutting tends to focus on other areas, including reducing staff. The result is that businesses often end up paying the same amount of money for a building even when it’s housing fewer people. This isn’t an efficient use of resources, and in some cases, doesn’t even reduce costs all that much.

However, by utilizing analytics, businesses can more effectively find areas where they can cut costs, in some cases, without reducing staff. For example, one grocery store chain was able to reduce refrigeration costs by 20 percent by analyzing the temperatures of in-store coolers. In-depth analysis found that the coolers were being kept several degrees lower than necessary, thereby increasing power usage. By increasing the temperatures by just a few degrees, power costs went down without affecting safe food storage. Other businesses have been able to use a combination of data sensors and analytics to identify heating and cooling inefficiencies, water leaks and other costly problems, significantly improving the efficiency of the buildings and saving money.

Reduced Fraud and Better Risk Reduction

Many companies, particularly in the finance sector, have begun using analytics as a tool to reduce fraud and the risk to businesses and customers. For example, banks and credit card processors use analytical data to identify potentially fraudulent purchases, using a defined set of markers based on the analysis of thousands of previous transactions. A business may not conduct this analysis directly, but they do benefit from partnering with other companies that do, saving them thousands of dollars in fraud costs every year.

By the same token, predictive analytics is being used to look at customer profiles and gauge the level of risk they present. Using data gathered previously, businesses are better able to rate the risk that a particular customer presents and thus move forward accordingly. This analysis helps prevent losses, and builds stronger customer relationships.

Reduced Manufacturing Costs

In one notable example of analytics at work, technology giant Intel has been using predictive analytics since 2012 to reduce manufacturing costs — to the tune of more than $3 million. They’ve done this by using analytics to determine which chips need which tests before being released to market. Prior to using analytics, Intel performed an exhaustive 19,000 tests on each chip being manufactured. However, by using the data gathered from all of that testing, the company is better able to identify which chips need which tests and save both time and money.

Implementing an Analytics Program

These are just some of the ways that business analytics can save your business money over time. However, for many companies, especially small businesses, implementing such a program is a perceived stumbling block. However, you do not need a team of data scientists, programmers and engineers to implement business analytics. In fact, thanks to programs where you can earn a master’s in business analytics online, managers with a quantitative background can develop the skills necessary to build a stronger balance sheet.

Before beginning any analytics program it’s vital to develop clear, quantifiable metrics that align with the stated basic objectives and goals or else you risk spending time on fishing expeditions that are less likely to produce any real insights that can be implemented for cost savings. When you put the right people in charge, and launch your analytics program with clear goals in mind, you should see quantifiable results and significant savings.

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Top 7 Benefits of Business Process Management https://priceofbusiness.com/top-7-benefits-of-business-process-management/ https://priceofbusiness.com/top-7-benefits-of-business-process-management/#respond Thu, 13 Dec 2018 16:36:26 +0000 https://priceofbusiness.com/?p=17777 Reading Time: 2 minutes Business Process Management (BPM) is all about making your business workflow more effective and efficient. Today, the business of all sizes and types face intense competition and one has remained competitive to sustain in the market. Right focusing more increasing... Continue Reading →]]> Facebooktwittergoogle_plusredditpinterestlinkedinmailReading Time: 2 minutes

Business Process Management (BPM) is all about making your business workflow more effective and efficient. Today, the business of all sizes and types face intense competition and one has remained competitive to sustain in the market. Right focusing more increasing efficiency, management, team cooperation and to name a few are the challenge for them. The bottom line is businesses should focus more process management and integrating BPM solution can help them curve the situation and tackle the challenge.


In this article, we shall discuss some of the tops discussed the benefits of Business process management and it helps you makes business process management automatization and its benefits.


  1. Adapt Changes Quickly: Business requires changes from time to time. It may be infrastructure, system, business process or technology. Changing business process requires overall changes and that may take time while BPM does this easily. It adapts changes quickly and keeps your business growth consistent.

  2. Cost Efficiency: You need money to employ skilled manpower or to even new technology, but BPM is a cost-effective solution. You can’t just go and slash the budget to curve the cost. You need to go another way round to make things done without hampering the business and its productivity.

  3. Productivity: BPM simply automates the business process which help sales reps to emit repetitive work. It simply reminds the completed tasks and the tasks-to-done. Besides, it helps the organisation in process improvement such as removal of bottlenecks, improvement of parallel processing and gets rid of repetitive activities.

  4. Efficiency: Efficiency helps to create a better atmosphere, deal with customer positively and earn maximum qualifying leads. In fact, the visibility of business process help employee be more efficient and BPM helps them enhance the quality by providing them resources.

  5. Employee Satisfaction and Team Cooperation: BPM automation cuts down almost all repetitive work and that help your employee to give their 100% productivity to the business. More than that, the Business Process Management also let informed the employee about their activities that help to understand the job in a better way. Giving better service that too with skill is an absolute matter of satisfaction. Just try it.

  6. Customer Satisfaction: When you are prepared for your services and products, it is going to help you deal with clients effectively. BPM not only helps understand your system, but it also helps you understand your customers and their mood of doing the business. In simple term, BPM gathers all resources of the customer such as his history, interest and needs.

  7. Sustainability: System, rules, policies, services and employees are prone to change anytime according to business requirement. Sometimes, if you are not prepared for the change, you may have to go through some tough time. BPM can save you from such loss.
    In short, BPM is the solution to automate your business process help your business and employee increase in growth. However, you need to find some quality system software and services as per the requirement of the business.

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Know Your Customers – The Importance of Audience Research in Business https://priceofbusiness.com/know-your-customers-the-importance-of-audience-research-in-business/ https://priceofbusiness.com/know-your-customers-the-importance-of-audience-research-in-business/#respond Thu, 13 Dec 2018 16:15:08 +0000 https://priceofbusiness.com/?p=17772 Reading Time: 4 minutes Understanding your customers is one of the perquisites of business growth. Without actionable insight on who and why pays for your products and services, not only will it be significantly harder to connect with your audience in relevant ways, but... Continue Reading →]]> Facebooktwittergoogle_plusredditpinterestlinkedinmailReading Time: 4 minutes

Understanding your customers is one of the perquisites of business growth. Without actionable insight on who and why pays for your products and services, not only will it be significantly harder to connect with your audience in relevant ways, but sustaining your business altogether will almost impossible.

 

In a time when customers are spoilt for choice in almost every field, you simply cannot afford to be disconnected from your audience. Customers want high quality products and services, but even though you have the means to offer them those, you need insight in order to know what exactly you should develop.

No matter the size of your business, thorough audience research is key in growing your brand and boosting long term engagement.

 

Types of information you should know about your audience

 

We live in a data-driven world where researching your audience isn’t exactly a complicated process. But not all data is relevant and, most importantly, not all data is the same. Depending on the things you can learn from it, customer information can be split into two important categories.

 

  1. Customer demographic: this refers to the basic details of the people who buy your products or services: their age, gender, job position, marital status, city of residence.

 

  1. Customer psychographic: this information refers to what motivates your customers to work with you: their political or spiritual beliefs, attitudes and what drives them to buy from you.

 

Demographic and psychographic information can be obtained by a number of means, from the traditional surveys and questionnaires, to more modern alternatives, like focus groups and social media analytics. The last option is particularly powerful, as it delivers valuable insights on how customers engage with your posts.

 

How can audience research help you?

 

Nowadays, businesses have access to overwhelming amounts of data, which do require a specialised team to sort, interpret and organise them in actionable reports. But why is all this effort worth it and why should you invest time and money to find out who your customers are and what drives them? Well, a good explanation of why it’s important is that without relevant information, your business is wandering purposelessly in the dark and you can’t build sustainable long term growth strategies.

More specifically, these are the benefits you can enjoy by researching your business audience:

Define your audience for effective advertising

Even if you have an unlimited advertising budget, the campaign will never be effective if you do not clearly define the audience in advance. In order for an ad to hit the market, it has to be structured and articulated in such a way as to resonate with the demographics and psychographics of the target audience. It’s one thing to make an ad for teenagers to 20-somethings, and another to make an ad for 35+ working parents. Also, advertising strategies will also vary depending on the countries you target and their cultural background.

 

Understand your audience’s needs and behaviours

Demographics matter when promoting a product or service, but they are not the only thing that matter, because not all buying patterns are influenced by age, gender or social status. After all, everyone needs cleaning services, chocolate or TVs, not just a certain demographics. This is where customer needs and behaviours come in. Audience research can answer these questions for you:

 

  • What influences your customers to buy your products?
  • What are your customer’s interests and hobbies?
  • What do people feel about your products and how do they perceive you as a brand?
  • What channels of communication do your customers prefer?
  • What kind of experience are your customers hoping to obtain by buying your products?

 

This way, not only will you be able to constantly improve your brand, but also stray grounded in reality, connected with your audience, and deliver products and services that actually cater to customers.

 

It’s easy to look at data as a massive collection of letters and numbers, but don’t forget that behind data there are actual people. They are your customers, the backbone of your business. They are people with families, hobbies, needs and interests. Taking the time to understand and empathise with them will help you stay relevant on the market and constantly develop solutions that people actually want and resonate with.

 

Gain valuable customer feedback

Sometimes, businesses hit a low point where they simply cannot find their place on the market anymore and things aren’t going too well. Of course, this can happen for reasons that have nothing to do with the customers, such as internal conflicts or a crashing economy, but, in many cases, their problems would be solved if they took the time to ask (and truly listen to!) customer feedback. The answer to why your products aren’t received so well can be in front of you, but you need to look at things from the customer’s perspective and take their opinions into account.

 

Drive long term engagement

Nowadays, so many businesses are disconnected from their audience that this has started to be perceived as the norm, but a healthy and sustainable client-provider relationship shouldn’t be like that. On the contrary, if you invest in audience research and understand what your customers need, you can create long term engagement and increase loyalty. With increasing competition in almost all fields, connecting with your audience and taking the time to look into their feedback is an excellent way to stand out from the crowd and become a big name in your industry.

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Effective Ways to Simplify Your Business https://priceofbusiness.com/effective-ways-to-simplify-your-business/ https://priceofbusiness.com/effective-ways-to-simplify-your-business/#respond Thu, 13 Dec 2018 16:01:57 +0000 https://priceofbusiness.com/?p=17769 Reading Time: 2 minutes It is not easy running a business. There are so many different things to be done and trying to juggle them all can be a nightmare. It can be difficult to know which task you should attack first, and then... Continue Reading →]]> Facebooktwittergoogle_plusredditpinterestlinkedinmailReading Time: 2 minutes

It is not easy running a business. There are so many different things to be done and trying to juggle them all can be a nightmare. It can be difficult to know which task you should attack first, and then you get distracted and the whole thing changes. This is partly because business owners do not keep the businesses simple enough. They let them become complex and harder to run. There are ways to tone things down though, and not only will your business become an easier job, it will be more efficient and enjoyable.

Prioritize

Make yourself a list of the jobs you need to do. Don’t spend a long time on it, one word for each will do. Then mark them in order of importance. One of the things that should be near the bottom is answering emails. You should look at this first thing in the morning and once more later in the day. One study showed that people who work with their emails open, change what they are doing over 30 times an hour. That is a most inefficient way of working. Close your emails and look at them when it suits you.

Use Technology

Most things you do could be made simpler by technology. This does not mean you have to immediately go out and spend many thousands of dollars on new equipment and software. The best way to automate some of your tasks is to speak to some such as the experts at https://www.safebitsolutions.com/.  They have the knowledge to be able to advise you on the best way forward with technology for your business, but also like to keep things simple too.

Automating more of your business will fix any outdated processes as well, and as they become more efficient, so the business will become simpler to run.

Outsource Some Jobs

Outsourcing can be a huge help in simplifying your business. Just stop and think for a moment how much time you have to spend on social media, just as an example. Wouldn’t it be easier if someone else could do that for you? Of course, it would and the same applies to bookkeeping, website management, general admin, and a whole list of other things you try to do yourself.

There are many people who freelance that are very good at some of these jobs, and you only pay them for what they do. Getting rid of some of these jobs is so important that even some large companies with many staff, still outsource some of them.

The thing is that some tasks are very specialized, and it is better to use an expert as and when you need them than it is to employ someone who might not be so good.

Clean Your Desk

This might seem a bit silly, but you could be surprised how much simpler everything seems if you have a clean and clear desk to work on. It is a job that could take you just a few minutes, but a clean desk will put you in the right frame of mind to start the day’s work.

 

Simplify your business and you will become more productive and more successful too.

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Financing Ideas for Startups https://priceofbusiness.com/financing-ideas-for-startups/ https://priceofbusiness.com/financing-ideas-for-startups/#respond Thu, 13 Dec 2018 00:49:14 +0000 https://priceofbusiness.com/?p=17766 Reading Time: 4 minutes Starting a business is surely a dream which we all have because it gives you the opportunity to be your own boss, do what you are passionate about, and earn money out of it. Moreover, it is surely one of... Continue Reading →]]> Facebooktwittergoogle_plusredditpinterestlinkedinmailReading Time: 4 minutes

Starting a business is surely a dream which we all have because it gives you the opportunity to be your own boss, do what you are passionate about, and earn money out of it. Moreover, it is surely one of the best ways to improve your financial status really quick if you carefully do everything by the book and make sure that your business grows fast and reaches the top of the market. When thinking about starting your own business, you should know that the recipe for a successful one is a brilliant idea, strong enthusiasm and motivation, and initial capital. However, not having the necessary money to invest in the idea which you think will bring you success is definitely something which might stop you from believing and fighting for your dream to come true. Yet, if you are incredibly motivated to reach your goal and open your own business, you need to know that overcoming the lack of money problem might seem like a challenge but it is possible to do it. Read below what are the financing idea which you could use in order to find the necessary money to invest in your business idea and achieve your dream.

Create a fantastic business plan

First of all, before you make any step and move any further with your plan of opening your own business, you need to make sure you understand the importance of a well-designed business plan. No matter what type of business you are planning to open or the niche of it, a business plan is the first step for a successful business. Apart from the fact that a detailed business plan will help you keep a track of all the essential steps which you need to make in order to reach success and will help you avoid forgetting about any important detail which might lead to the failure of your business idea, a detailed and fantastic business plan is also the best way to attract other people to believe in your idea and help you with finding the necessary money for investing in it.

Start saving money

You need to be aware that if you want to be in business, you need to learn how to be a really good entrepreneur and fund your dream to come true. Saving money in order to start your own business might be a solution which takes a bigger amount of time. However, it may be exactly what you need in order to make sure that by the time you open your startup, you are going to know how to properly manage your finances, create and stick to a budget, and how to make more money from what you have. Also, by investing your own money, you will protect yourself and your business from outside influence and you will also won’t have to worry about any debt in case of failure. Moreover, you need to be aware that finding investors who really believe in your business idea and are willing to help you develop it into a profitable business is going to be a lot easier if you also contribute with your part. Otherwise, no investor will feel strongly motivated to invest in something which can only bring monetary loss to them.

Get a loan

A fast and easy method of financing your dream business is getting a loan. Surely, financing a business with a loan might sound like a risk which you are taking because of the risk of the failure of your business, you will still have to pay your debts. However, taking risks in order to reach success is one of the most popular practices in the business world. Moreover, if you take your time and look for the best online loans for young entrepreneurs, you can easily find the necessary amount of money which will help you achieve your dream and the lower interest rates without having to wait in long lines or fill out stacks of paperwork. A simple application online can quickly bring you the necessary initial capital which you need to start your business.

 

Look for angel investors

Angel investors are usually private investors who have a high income which makes them more willing to take a higher risk and invest in business ideas which have not even been tested yet in an exchange for a share in the company. However, you need to be aware that in order to find and convince the investors that your idea is worth investing in, apart from a well-designed and detailed business plan which will make the investors believe that you are capable and have all the necessary skills and knowledge to bring them more money, you also need to focus on creating the right network which will put you in contact with wealthy investors ready to finance your dream business. Finding a business investor to finance your startup might not only bring you the necessary initial capital, but it can also bring numerous advantages such as the fact that the investor could connect you with the connections that he or she has and share the business experience which might help you in the future to reach success with your startup.

Ask for the help of your family and friends

Your friends and family might not ask you to see a detailed business plan before offering their help, but they definitely need to know that you are motivated and strongly believe in your business idea in order for them to know that their money will be a good investment. When thinking about opening your own business, you do not really want to rely on the help of your family and friends because you wish to be financially independent. However, you need to be aware of the fact that it is only a temporary solution and you are going to pay back the investment which your loved ones have borrowed you.

Now that you know the best financing ideas for your start-up, you need to consider which one is going to help you acquire the sufficient money for your business idea and which one is best suitable with your long-term plans.

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Body Image, The Internet, and Business https://priceofbusiness.com/body-image-the-internet-and-business/ https://priceofbusiness.com/body-image-the-internet-and-business/#respond Tue, 11 Dec 2018 00:38:19 +0000 https://priceofbusiness.com/?p=17755 Reading Time: 2 minutes The world has forever been changed by the Internet. It’s more than just a platform that allows us to share information. The Internet also grants us a peek into what limits we as a species can reach. And with the... Continue Reading →]]> Facebooktwittergoogle_plusredditpinterestlinkedinmailReading Time: 2 minutes

The world has forever been changed by the Internet. It’s more than just a platform that allows us to share information. The Internet also grants us a peek into what limits we as a species can reach. And with the advent of the Instagram model and fitness Youtuber, the pursuit of that perfect body has been more in demand than ever.

 

Like any business owner worth his salt, one cannot deny that there is an emerging market in the health and fitness field. But not everybody wants to or can put in the hours required to attain an aesthetically pleasing body. And the truth is that it’s incredibly difficult to get rid of visceral fat.

 

This gives rise to a market opportunity for those people who want to capitalize on this increased demand for getting a chiseled body with less time and effort. These businesses can come in two main forms of cosmetic solutions. These solutions are:

 

Liposuction

 

Liposuction is the process of removing fat from the abdomen, thighs, buttocks, neck, chin, calves, and back through the use of an instrument referred to as a “cannula”. Right from the term itself, the process of liposuction involves the insertion of the cannula into the target area. A high-pressure vacuum is then applied to the instrument and this causes the cannula to literally suck out the fat from the target area.

 

Liposuction is, in fact, the most popular cosmetic procedure in the United States. It is also one of the most expensive, with procedures coming with a hefty price tag in the range of $2,000 to $3,500.

 

Despite this restrictive price, over 300,000 liposuctions are carried out every year. This not only suggests that there is indeed a demand for fat removal, but it also suggests that there is a huge market for the fat removal business and that people are willing to pay a lot of money to have fat removed.

 

Cryolipolysis

 

The other method through which one can have fat removed comes in the form of cryolipolysis or also better known as “coolsculpting”. Coolsculpting is the process of freezing a localized region of fat deposits in order to contour the body.

 

In essence, the exposure to freezing temperatures causes cell death within fat tissue. This is the ideal procedure of choice for those who prefer a non-invasive method. There is no skin breakage involved, unlike in liposuction, where the cannula has to be inserted into the target area. Cryolipolysis doesn’t damage the overlying skin to get to the fat tissue underneath.

 

Coolsculpting treatments are usually performed in medical spas by trained staff. https://revivology.com/medical/coolsculpting-body-treatment/ is a very reliable source if you’re interested in the finer details of cryolipolysis.

 

A cryolipolysis treatment in the US typically costs about $750 to $1,500, It’s also important to note that while this process is relatively new, the sheer number of anecdotes relating to the effectiveness of the procedure cannot be overlooked.

 

What’s more is that there aren’t as many cryolipolysis businesses as there are liposuction clinics, which makes it a fruit ripe for the picking if you have the resources to open your own clinic that specializes in this procedure.

 

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How to Start a Cab Company https://priceofbusiness.com/how-to-start-a-cab-company/ https://priceofbusiness.com/how-to-start-a-cab-company/#respond Tue, 11 Dec 2018 00:36:49 +0000 https://priceofbusiness.com/?p=17752 Reading Time: 2 minutes Despite the popularity of ride-sharing apps such as Uber, taxi services remain a viable way for people to get around. In fact, the number of taxicabs is expected to increase in the foreseeable future with revenue jumping to $2 billion... Continue Reading →]]> Facebooktwittergoogle_plusredditpinterestlinkedinmailReading Time: 2 minutes

Despite the popularity of ride-sharing apps such as Uber, taxi services remain a viable way for people to get around. In fact, the number of taxicabs is expected to increase in the foreseeable future with revenue jumping to $2 billion by 2022.

 

That being said, now is better a time than any to establish your very own cab company. Especially if you’re living in larger urban centers that keep on growing, you will find that managing your own taxi fleet is immensely lucrative.

 

However, considering the cost of setting up such a business, you will need all the knowledge you can get to build your very own transport empire. Start with these crucial steps:

 

  1. Research the field and set your expectations

Like any other business, a taxi company is something you wouldn’t want to dive into at once. You will need to conduct extensive research before you set everything up. In other words, you will need to test the waters before jumping in. This will help you determine the risks of managing such a venture and develop a business strategy for sustainable growth.

 

Market analysis should be first and foremost on your checklist before you even make a decision. For starters, you can ask other business owners. You can also hit up the local directory and write down your competitors. Next, make sure to determine the rates and operational costs that cab companies incur on an annual basis.

 

  1. Gather your resources

Forming your fleet of cabs doesn’t come cheap. If you’re going to purchase new cars, you may as well spend around $10,000 to $20,000 for each unit. Of course, you can reduce your expenses by purchasing second-hand cars. Either way, setting up your fleet can still be expensive.

 

For this reason alone, it’s important that you have enough resources to form your initial fleet. You can look along the lines of ten units, which is a preferred starter for any newbie to the taxi game. This is also manageable when it comes down to your finances. Even so, you will still need to get the right funding for this setup. One thing’s for sure, you can always ask your friends and family to invest in the idea. You can also consider applying for a business loan that could cover the cost of your fleet as well as other equipment.

 

  1. Consider proper maintenance

To keep your cab company highly profitable, you should be able to take care of your taxi fleet. Regular maintenance is vital to keeping your cabs in good condition and reducing repair costs. For second-hand acquisitions, you may as well consider restoring these units. Onsite Detail is one such company that can help you maintain your fleet and keep your cabs in proper working order so that your business operates smoothly.

 

  1.  Get registered and insured

Finally, before launching your taxi business, you will need to get a license from local transport authorities. You can ask at City Hall for the requirements and whether or not your fleet and metering equipment should be inspected. You should also shop around for the right commercial insurance for your business.

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How to Minimize Risks When Running a Business https://priceofbusiness.com/how-to-minimize-risks-when-running-a-business/ https://priceofbusiness.com/how-to-minimize-risks-when-running-a-business/#respond Tue, 11 Dec 2018 00:35:20 +0000 https://priceofbusiness.com/?p=17749 Reading Time: 2 minutes Life’s not fair all the time, and the same is true when you are running a business. You won’t know for sure if your enterprise will survive, especially within a highly competitive and uncertain market. One thing’s for sure, you... Continue Reading →]]> Facebooktwittergoogle_plusredditpinterestlinkedinmailReading Time: 2 minutes

Life’s not fair all the time, and the same is true when you are running a business. You won’t know for sure if your enterprise will survive, especially within a highly competitive and uncertain market. One thing’s for sure, you will have to prepare yourself for every eventuality in order to sustain your gains.

 

Risks are normal in the world of business. However, you wouldn’t want to let this pass as an entrepreneur. For sure, you’re aiming to increase your revenue and explore other avenues for expansion.

 

That being said, you should be able to use the right approaches in keeping your business profitable in the long run no matter the situation. Here are a few tips that can help you deal with the risks of running a business.

 

  1. Create an effective management plan

One surefire way to protect your bottom line from threats is to create a business management plan that’s anchored on specific objectives. For this, you will have to determine your priorities and goals. For instance, if your overall business plan involves building a client base, you should be able to focus your time and resources on this specific goal.

 

From there, you can determine possible threats to achieving this goal and how you can prepare for these threats. With a forward-looking business management plan in place, you can come up with effective strategies that can help you navigate your way around a tight market.

 

  1. Have your assets insured

As your business begins to expand, anything can happen along the way that could disrupt your operations and hinder growth. Along these lines, you will have to secure your commercial assets by shopping for an insurance policy that fits the nature of your business.

 

One thing’s for sure, commercial insurance is vital to protecting your business from any possible contingency such as theft or a natural calamity. For this, make sure to find an insurance provider that caters to the type of business you’re running, whether it’s a startup or a limited liability company or LLC.

 

  1. Protect your real estate

Commercial real estate forms a large part of your capital assets. It’s only proper to ensure that the purchase of such an asset go as smoothly as possible. That being said, you will need to make sure the property you’re buying is free from any encumbrances.

 

You will need to get a good attorney that specializes in commercial real estate. This will help you reduce the risks of buying property and also get valuable legal advice for such matters as lending, leasing, land development, and other activities related to your business. Along these lines, you can always contact McQuarrie estate lawyers to help you keep your commercial property in line.

 

  1. Form a hardworking risk management team

At the end of the day, a risk management team remains a great way to protect your bottom line. For this, it’s important that you get people who are experts in financial management and accounts. You also need to appoint PR consultants who can help you deal with the effects of bad publicity, thereby protecting your reputation.

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Olderpreneurs — 3 Midlife Career Switch Hacks https://priceofbusiness.com/olderpreneurs-3-midlife-career-switch-hacks/ https://priceofbusiness.com/olderpreneurs-3-midlife-career-switch-hacks/#respond Mon, 10 Dec 2018 16:26:10 +0000 https://priceofbusiness.com/?p=17746 Reading Time: 2 minutes Millennials take to changing jobs regularly like ducks to water — according to 2016 data from Gallup, 21 per cent of this group reported moving jobs in the preceding year, compared to just seven per cent of other demographics. But... Continue Reading →]]> Facebooktwittergoogle_plusredditpinterestlinkedinmailReading Time: 2 minutes

Millennials take to changing jobs regularly like ducks to water — according to 2016 data from Gallup, 21 per cent of this group reported moving jobs in the preceding year, compared to just seven per cent of other demographics.

But if you’re middle-aged and have spent most of your working life in the same role or organization, the thought of doing something different might be daunting.

Whether you’re yearning for a change and proactively researching options or are facing redundancy and aren’t sure how to proceed, working for yourself might provide the freedom and opportunities that sometimes aren’t apparent as a card-carrying staff member.

In the UK, pension freedom legislation which allows over 55s to access more of their retirement pot than previously possible, rises in the state pension age and a perceived lack of fulfilling opportunities in the traditional job market mean that olderpreneurs have been a driving force in the rise in self-employment since 2000.

If you want to take a leaf from their book and be your own boss, here are three midlife career switch hacks.

  1. Bounty hunter

If you’ve worked in law enforcement and are approaching retirement, becoming a bounty hunter is one way to earn some extra cash and exploit your hard-earned expertise.

Tracing and apprehending fugitives requires guts, guile, an insider’s knowledge of the law and training in weapons and self-defense.

If you’re based in Oregon, Wisconsin, Kentucky or Illinois, bounty hunting is banned — otherwise, read this guide from BountyHunterEdu and you’ll soon be on your way to an exciting new career.

  1. Driving instructor

Setting up a driving school might not be as adrenalin-fueled as catching felons, but it’s probably safer and can still be profitable.

You’ll need to research the legal requirements for your state and get all the appropriate licenses, and if you’re seeking funding from a bank for setup costs, you must draft a detailed business plan that projects costs of vehicles, premises in an area zoned for commercial use, and robust insurance.

And lastly, you’ll probably be required to have a clean license at present, but check with your local authority to confirm what you need to be compliant.

  1. Online learner

When early retirement’s a couple of years down the line or you’re simply desperate to escape a job that’s gone stale to migrate to a much more fulfilling and rewarding career, upskilling through distance learning is an excellent option.

Flexible online courses allow you to earn while you learn and take care of family commitments without having to drop everything for full-time campus study — but you’ll still be in close contact with tutors and classmates from around the world.

When you earn an online degree from Anglia Ruskin Distance Learning or another accredited organization, you can really propel your career plans and subjects range from MBAs to digital marketing qualifications, so there’s something for everyone.

Choose whichever of these three midlife career switch hacks suits you best and take your first step towards a new role — it’s never too late to find your dream job.

Have you changed careers in midlife? Share your thoughts in the comments section.

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Nine SEO Myths You Should Not Follow https://priceofbusiness.com/nine-seo-myths-you-should-not-follow/ https://priceofbusiness.com/nine-seo-myths-you-should-not-follow/#respond Mon, 10 Dec 2018 16:14:53 +0000 https://priceofbusiness.com/?p=17743 Reading Time: 4 minutes SEO is one of the most important things to look into when you want to rank high on search engines. Not only does it bring more traffic to your website, but it also helps optimize it for better user experience... Continue Reading →]]> Facebooktwittergoogle_plusredditpinterestlinkedinmailReading Time: 4 minutes

SEO is one of the most important things to look into when you want to rank high on search engines. Not only does it bring more traffic to your website, but it also helps optimize it for better user experience and satisfaction.

But with the many best SEO strategy claims out there, what are the ones you have to watch out for? There are SEO myths out there that claim to be the best, but end up not actually affecting your SEO at all!

To watch out for such, I compiled the nine SEO myths you should NOT follow!

The Nine SEO Myths You Should Not Follow

While we can’t guarantee that SEO strategies work for all websites, these are the nine sure myths you should ignore:

  1. Having an XML Sitemap Boosts Search Rankings

Have you tried installing an XML Sitemap generator on your website? It comes with a host of features and benefits, though it doesn’t directly improve your SEO at all.

An XML sitemap is necessary if you want a crawlable website, helping search engines crawl and index fresh content. But, it doesn’t affect the actual rankings of your site, only used as an aid or guide to give more information about your content to search engines!

  1. Meta Tags DON’T Matter

Meta tags DO matter, as it helps webmasters prove much-needed information about their websites to search engines. There are three elements of meta tags:

  • Title tag
  • Meta Description
  • Meta keyword/phrase

While search engines don’t boost search rankings directly, it helps tell users and search engines what your website is all about, helping it create better attraction and clicks because it shows that you have the high-quality content they want and need.

  1. Top-Level Domains Can Improve Your Rank

The top-level domain is on the highest position on a search engine system. Search users will always recognize the .com, though sometimes get confused with others such as .biz or .guru. This is because most Google search results have .com domain names unless it’s a geo-targetable country domain.

However, there is no proven research that shows how top-level domains will always improve your ranking. It’s more about your keyword quality, usage, and content.

  1. Having a Target Keyword In Your Anchor Text Doesn’t Matter

When you build links, you should also use keywords in anchor texts. These are the clickable texts in hyperlinks, and with a keyword-rich anchor text, it helps boosts your rankings as well.

The reason why people think otherwise is because of the over-optimization of linking. This one would get you penalized by search engines! Avoid excessive use and cross-linking your actor texts instead of avoiding it overall. Focus on building natural keyword-rich links instead!

  1. Google Finds Your Fresh Content Then Indexes It

Search engine bots would find and feed on fresh content, yes. When there’s a new article on your website, they would check it out. However, it doesn’t mean that your content is crawled and indexed without you knowing. It MAY happen, but it’s not likely.

That’s why an XML sitemap can help, as it would send your content to search engines and directories. Furthermore, updating social profiles can help with indexing your fresh content quicker.

  1. Paid Search Improves Organic Results

If you think AdWords PPC can help with your organic rankings, you’re not exactly correct. There aren’t any correlations between both organic and paid rankings, as they function on different terrains. Sponsored links are based on your bid and investment, while organic search results are from the index’s database!

While it CAN help with conversion of organic results, it doesn’t help with its rankings.

  1. Guest Blogging Is DEAD

NO, guest blogging is NOT dead. Contributing to a blog still helps, although bad content will adversely affect your SEO. After all, high-quality content can help, especially with a strong link profile.

And when you think about it, there is so much content in high-authority websites from freelancers and authors who have their own websites to handle! So you can see that guest blogging will never be dead and as long as you provide the high-quality content, it continues to help keep your website running.

  1. An SEO Agency Is a Surefire Way to Get Your Ranks Up

This is an interesting myth that shows no proven claims. Best SEO agencies have experts with experience, though there is NO guarantee that you’ll be on the top Google rankings.

SEO agencies can help with keyword analysis and competitive auditing, but not to get the quick top rankings. And because there are billions of searches monthly, there is no SEO agency that can predict the trends and tomorrow’s keywords. With that being said, no one, not even the top SEO agency, can give you the fast search engine rankings.

  1. You Don’t Need to Do Keyword Research Anymore

This is a very dangerous myth you should never follow. Sure, content is king and can help boost your SEO. However, you shouldn’t forget about high-quality keyword research for your sure.

There isn’t a Google update that eliminated keyword importance. Nor will there be one in the future! What you do need to avoid is overusing your keywords, as well as poor keyword research and planning.

You can use tools to research for keywords, as well as to check out what your competitors are using to stay ahead.

Wrapping It Up

While SEO is especially important in improving your website, there are things you should watch out for that won’t help your rankings at all. Through knowing such SEO myths, you won’t waste time and effort implementing these “strategies,” focusing more on what works and is proven effective.

Hopefully, this article on the nine SEO myths you should not follow informed you on what to avoid in the future. So start looking into what actually works for your website interns of SEO now!

If you have any questions or want to share your tips and experiences with SEO, then comment below. Your thoughts are much appreciated!

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