Why Penetration Testing Is a Vital Part of any Business’s Online Security Strategy

Why Penetration Testing Is a Vital Part of any Business’s Online Security Strategy

When was the last time your business carried out a penetration test? If you’ve no idea what that even means then you wouldn’t be alone!

Penetration testing is a vital part of any business’s online security strategy, or at least it should be. Regardless of which type of industry you work in, technology tends to play a huge part in the day-to-day running of your company. Whether you use it to store customer data or simply to communicate with colleagues and employees, it’s important to ensure everything is safe and secure. Standard anti-virus scans just aren’t enough to protect your company in this digital age. That’s where penetration testing steps in.

So, what is penetration testing and why is it so important for small businesses?

 

Understanding Penetration Testing

Penetration testing is also commonly referred to simply as pen-testing. It involves carrying out numerous automatic and manual processes to identify any weak spots in your system.

Rather than just looking for weak spots, it actually hacks into the system. So, it’s basically a test to discover how easy it would be for someone to access your digital network. It’s capable of picking up on potential issues that you might not be aware of, helping you to establish whether any changes need to be made.

Usually, these tests focus upon finding the most high-risk vulnerabilities. So, if those are found, you may not discover the medium or low risks associated with your network or systems. However, if no high risks are found, it will typically move on to look for medium and low risk threats. It all depends upon the type and length of the test that’s being carried out. So, it is worth keeping this in mind before you choose a penetration testing service.

 

Why Is Penetration Testing Important?

Many businesses mistakenly think penetration testing is something that only large organizations can benefit from. After all, how likely is it that a small business will be targeted by hackers? Well, you might just be surprised!

Around 60% of cyber-attacks are launched against small businesses. This is because, unlike larger companies, smaller ones don’t tend to have as much security in place. So, as a small business you’re considered an easy target.

If there is a security breach, the cost can be substantially high. Not only will it cost you financially, but it’s also going to have a major effect on your reputation. The financial costs of recovering after a security breach are higher than you might think. The UK Department for Business, Innovation, and Skills estimates the cost of a breach for the average small business would be around £310,800 – a cost most small businesses couldn’t afford.

A great advantage of penetration testing is that it doesn’t just show you the potential threats your company is facing; it also looks at what would happen if these security weaknesses were exploited. Would it lead to a loss of customer data? Or maybe it would attack users on the system? Whatever the risk, it will be identified and you’ll see exactly what the repercussions could be.

Finally, did you know that penetration testing is actually a legal requirement for some businesses? If your company is legally required to carry out these tests but it fails to do so, you could end up in a lot of trouble, which again could cost you dearly.

 

Can You Do Penetration Testing Yourself?

There are penetration testing devices available, but unless you have experience working with them, you’re likely to find them a little too complex to understand. They’re also expensive. The biggest challenges you’ll face if you do try to do your own penetration testing include:

• Failing to check the right things and to set the right scope
• Not being able to understand the reported outcome
• No knowledge of the penetration testing device

The best option and the most reliable is to turn to the services of a penetration testing company. They know exactly what to check and how to use the complex tools and processes for best results. It can save you a lot of time and it gives you a peace of mind that absolutely every avenue has been looked at and checked for weaknesses.

Also, when you compare their cost to the tools you’d need to buy to do it yourself, it doesn’t actually work out to be much more expensive.

Overall, penetration testing should be included as an essential part of every small business’s cyber security strategy. It is important to remember that you will need to address any issues found in the report as soon as possible, however. It’s one thing to ensure the testing is done, but you’ll need to follow up and make the recommended changes to ensure your company stays safe.

source http://www.business-opportunities.biz/2017/05/01/penetration-testing-vital-part-businesss-online-security-strategy/

Do You Have What It Takes to Succeed as an Entrepreneur?

Do You Have What It Takes to Succeed as an Entrepreneur?

If you’re like most entrepreneurs, you’ve had some victories and you’ve encountered some obstacles during your career. During those rough periods in particular you might have asked yourself, “Do I really have what it takes?” These feelings are perfectly normal, and you don’t have to let them keep you from continuing to strive toward your goals. If you’re struggling as an entrepreneur, read on for some insights about how to navigate the choppy waters and continue on your journey.

 

Eliminate Distractions

Sometimes people who work from home are tempted to drink while working, just to “mellow out.” However, this is a risky path to take for a number of reasons. For one, you can hardly do your best work after even a single drink. For another, alcohol is all too accessible if you’re at home by yourself, and drinking alone can become a dangerous habit, leading to alcoholism and its attendant woes.

Other distractions can come from family members and friends, who might assume that because you have a flexible work schedule you’re free to hang out with them any old time. To avoid this scenario, establish some ground rules. It can help to stick to a regular work schedule that’s similar to normal working hours. Set up a work area, one that’s behind a closed door if possible. Calmly inform friends and family that when your office door is closed, you’re working, and ask them not to disturb you except in an emergency.

Also, unless you need to be accessible by phone with your clients, turn the ringers off on both your smartphone and your landline. And speaking of smartphones, don’t keep yours within easy reach. If it’s too easy to pick up your smartphone when you should be working, you could get lost in scrolling through Facebook or Twitter instead of working toward meeting a client’s deadline.

 

Develop Perseverance

You probably know by now that being an entrepreneur is not easy. Many people have left more conventional careers because they think that they would love to be their own boss. However, when they try it, they soon learn it takes a special set of qualities to succeed as an entrepreneur.

On the other hand, as an entrepreneur your future is in your own hands. Work smart, persevere, and your future will be a bright one.

 

Give Your Clients and Customers What They Want and Need 

Make it a point to learn what your clients and customers need that you can provide. For instance, if you’re a software designer, ask your friends and family to brainstorm with you about apps they wish they had that are not yet on the market. Do a little market research, then do that magic you do so well, and you could be on your way to the next big breakthrough in app design—and in your entrepreneurial career.

If you’re a writer, find out about what kinds of writing clients are looking for these days, and get some training in how best to do just that. You could soon have clients knocking on your door at all hours and lined up around the block.

 

Seek Out Friendly Competition

Keep your ear to the ground as far as your competitors go. Check out their websites and study their profiles. Emulate what they’re doing that’s working and capitalize on what they’re doing that’s not working so well.

You can’t avoid having competitors, so you might as well use the fact that they’re there as motivation rather than as a challenge.

 

Develop Self-Discipline

One of the most important qualities that will determine your success or failure as an entrepreneur is self-discipline. Do what successful entrepreneurs do, and you will surely rise to the top in your field.

 

Be Smart with Your Money

Especially in the beginning, you might make only enough money to cover your expenses. The next stage will find you investing the money you make back into your business. Once you’ve gained a little traction, though, you might find that you have some funds you’d like to invest in the stock market or in other ways. One of the great things about being an entrepreneur is that it teaches you the value of your own work and your own money. Take good care of your money and you’ll sleep better at night, if nothing else.

 

Be Open-Minded

Stay open to new ways of thinking, seek out mentors, and remain teachable, no matter how long you’ve been running your own business. If you have employees, listen to their ideas. This attitude will garner their respect, and—who knows?—you might just hear an idea from one of your employees that sends your business over the top.

 

source http://www.business-opportunities.biz/2017/04/30/takes-succeed-entrepreneur/

Ditch Old-School Advertising and Embrace Creative Strategies to Attract More Business—Like Personal Injury Lawyers Do

Ditch Old-School Advertising and Embrace Creative Strategies to Attract More Business—Like Personal Injury Lawyers Do

Every small-business owner has a lot to learn from changes in the ways that personal injury lawyers now advertise their services. There was a time when attorneys only advertised in the phone book. They networked with their peers, and they hoped for word-of-mouth referrals, but advertising by professionals was considered unseemly in those days.

Does any of this sound familiar to you as a business owner? Do you hesitate to promote yourself or your business because you don’t want to seem immodest or overbearing? If so, you can take a lesson from personal injury lawyers, whose advertising methods have undergone a dramatic shift in recent years.

These days law firms have ditched old school methods of advertising and embraced technology, sports marketing, and more.

Big and flashy billboards for personal injury lawyers seem to be increasing in number, and attorneys now purchase television spots with sports teams and even promote themselves on city benches. Nowadays, it’s hard to go anywhere without seeing an ad from at least one firm. Industry experts predict the trend is only going to grow.

The reasons have to do with the fact that the personal injury industry is growing at a rapid rate. According to a 2009 report by Statistics Canada, the personal injury industry in Canada alone is worth an estimated $19.8 billion. When you consider the fact that a single case has the ability to bring in a multi-million dollar settlement, it should come as no surprise that firms are not only willing but eager put so much of their resources into marketing efforts. The competition is fierce and new marketing tactics are emerging daily.

All of this is a big change from the past, when law firms would advertise only in the Yellow Pages. Lawyers would make sure to maintain good relations with other lawyers and medical professionals to help garner support, but advertising was kept to a minimum.

Today, though, law firms take out ads in radio and television where they speak passionately about helping those who have been hurt. They sponsor sporting and community events to keep their firms’ names before the public.

As we mentioned earlier, they embrace technology, too, They focus on developing winning websites, then they seek to increase their search engine optimization so they can compete to have one of the top spots in Google searches. They use Google Adwords to lucrative effect. In fact, law firm marketing has evolved to the point that some firms require an entire marketing department to manage their promotional efforts.

All of these innovations are made possible because of changes in the law in several countries, beginning in the late 1970s. Lawmakers argued at the time that it was against the public’s interest to deny consumers information, and the courts eventually agreed.

These days, the general guidelines for advertising by personal injury lawyers are similar to the guidelines for other businesses. That is, advertisements cannot be misleading, confusing, or deceptive and must be in the best interests of the public.

“When we started we were one of the first players,” said Jeremy Diamond, a personal injury attorney in Toronto. “We’ve learned that people see through inauthentic advertisements so we’ve always aimed to be honest about our experience and expertise.”

Even if you’re not a personal injury lawyer, you, too, can keep up with the changing times and find creative ways to promote your business both online and off. You might not have the funds for keeping up with all of the methods mentioned here, and you might not need an entire marketing department in order to effectively promote your products and services. However, you can shed your shy ways and attract more business your way by following the lead of personal injury lawyers.

And meanwhile, don’t forget that you, too, must be honest and transparent in your promotional efforts, not only because it’s the right thing to do, but also because by doing so, you will be building trust with your customers and clients.

source http://www.business-opportunities.biz/2017/04/30/ditch-old-school-advertising-embrace-creative-strategies-attract-business-like-personal-injury-lawyers/

How to Achieve Greater Returns on Your Business’s Property Investments

How to Achieve Greater Returns on Your Business’s Property Investments

Everyone who buys a property does so with several goals in mind, one of which most likely is to make a profit when they sell it. This is true for buyers investing in a home, landlords in buy-to-let purchases and for businesses looking to invest in their own work premises. All too often, however, the projected profit when selling a property doesn’t materialize.

As a business owner, you may have taken steps to invest in your business premises with a strategy in place that includes selling it at a profit one day. What steps can you take to maximize the return on your investment (ROI) from your property?

 

Location, Location, Location

Location is critical to almost any business, so before you snap up a “bargain,” make sure it is the bargain you think it is.

For instance, the business premises in a certain part of town with a too-good-to-be-true price tag may not be in the best location for your business. Knowing it is in the “wrong” location, the estate agent has likely priced it to sell.

Should you be buying in town or on the high street? Would an out of town unit or retail park be better? Should you be buying a business property at all?

 

Consider Building Your Own

Designing and building property is not just for the domestic market. For many businesses, their needs are so specialized that the only real solution is to create their own business premises.

Even considering the price of land and the cost of building, the overall cost could still be less than if you bought an already built facility.

By building your own, you’ll be able to create your own specialized premises, whether you need your building to be part office and part laboratory or some other custom construction. You can also ensure that you will enjoy the benefits of the latest sustainable building method, leaving you with a well insulated, environmentally friendly building that is cheaper to heat and more comfortable, as well as fitting perfectly with the ethos of your business.

Then, too, you’ll have an opportunity to create a landmark, building if you wish. Your iconic, custom building would mark your business as unique, an ideal means of developing a thriving business—definitely a positive return on your investment.

 

Make Sympathetic Improvements

Improving your business premises is an obvious way of adding value and improving the ROI on your property.

However, doing so sympathetically and in keeping with the property is essential to improving the ROI on your property. For instance, you wouldn’t want to add an extension with a look that didn’t fit with your buildings age and style.

There are some changes that add more value than others, so consider all the options carefully:

• Insulation and energy efficiency. At the top of the list in the 21^st century is making your business premises as energy efficient as possible. Wrap your building in cavity or thermal wall insulation, and opt for double glazed windows and doors.
• Your own power source. Utility bills are ever increasing, but business premises are notorious for wasting heat (and by default, money). How many offices have you been to that are stuffy and so hot that the windows stand open, even in winter? Insulation will help, as will investing in new heating technologies. Consider the gentler heat of underfloor heating and invest in solar panels and/or a wind turbine to generate some, if not all, of your own energy.
• In older buildings, you’ll likely need to do some restoration. You can maintain your building’s integrity, while still fulfilling your business’s working requirements.

 

Rent All or Part of It Out

Investing in a property is a bold move for any business. Just as with a domestic property, getting help to pay the bills is a shrewd move. This is why many business owners buy a property that they know is too big, section parts of it into smaller units and offer parts of it for rent to other local businesses.

Is this a move you could make? It means less of monthly outlay on your part and possibly a small profit to invest back into the property itself.

 

Buying or Renting?

This all assumes that buying your own business premises is the right move to make.

In many cases, it can be. It shows potential trade partners and your current client base that your business is trustworthy and stable, growing from strength to strength.

Invest wisely in the right property in the right location, improve it and maintain it, and you can expect a high level of return on your initial investment.

source http://www.business-opportunities.biz/2017/04/27/business-property-investments/

How to Get the Most Bang for Your Buck from a Business Coach

How to Get the Most Bang for Your Buck from a Business Coach

There comes a time in the life of any business owner when he or she feels overwhelmed and unsure of how to overcome the latest, possibly very large, obstacle. Whether that time comes at the very beginning in the life of the business or somewhere down the road, a smart business owner knows to ask for help and seek the assistance of a business coach when it happens. It just makes sense.

If you’ve reached such a point with your business and you know you want and need some outside help, how do you go about choosing the right business coach? And, once you’ve found that person, how do you get the most out of the coaching relationship?

 

Find a Coach Who Has What You Need

Do you need help with staffing and personnel issues? Are your sales and marketing methods failing to achieve the results you need?

Do you need someone who will be honest with you about the areas where you need to change and grow? Someone who will give you the advice you’re not able to give yourself, the very advice that will help you to see what you need to see so you can go where you want to go?

Or, do you just need someone to bounce your ideas off of, someone who will help you sort out the brilliant ideas from the worthless ones, because your staff only tells you what they think you want to hear?

No one person—not even the most brilliant business coach—will have every strength, so look for a coach whose assets are a match for your weaknesses.

Be clear about what you most need from a coach before you begin your search, and stay focused on finding a coach who will help you to achieve your goals.

 

Find a Coach Who Will Hold You Accountable

As comfortable as it can be to be surrounded by people who never disagree with you, notice that your being comfortable isn’t moving your business in the direction you want it to go in. The last thing you want is a business coach who will agree with your every word.

Among other things, a good business coach will give you “homework” between sessions and insist that you complete it. While you might balk at the idea of taking on additional work—after all, don’t you have a business to run?—you know deep down that that onerous task your business coach just gave you is one that you really should have been doing all along. And so you do it. And it works.

One of the advantages of hiring a business coach in the first place is to have the benefit of the experience of someone who has been where you want to go. You want someone who will save you from the mistakes they made, an experienced voice that will tell you what paths to avoid and why. With a good business coach, you’ll be saved from a lot of trial and error.

 

Stay in Touch and Meet Often

Your business coach should be willing to be in continual contact with you, as well as willing to meet with you every couple of weeks or so. With two weeks between meetings, both of you will have adequate time to gather data and prepare for the next meeting. Any less often than that is probably not enough, as the relationship is likely to lose momentum and be less effective overall.

 

Tell the Truth, the Whole Truth, and Nothing but the Truth

Lay all your cards on the table in all of your interactions with your business coach. Be completely transparent in every detail. Otherwise, you’re just wasting time and money, and who needs that? If you’re not going to be completely honest, you won’t get the results you want.

 

Improve Your Bottom Line by Putting Your Bottom on the Line

Good business coaches are out there, and here’s a hint: The best coaches are themselves being coached, or have been. If your business has stalled and you’re fresh out of ideas or you’re stuck in some other way, seek out the services of a good business coach. Find one who’s a match for your needs, work with that person honestly, and you’re bound to get an amazing return on your investment.

source http://www.business-opportunities.biz/2017/04/27/get-bang-buck-business-coach/

A Ray of Hope for Struggling Real Estate Companies

A Ray of Hope for Struggling Real Estate Companies

Since the 2008 global downturn in property markets, real estate companies have struggled to regain their footing. As a matter of fact, in 2015 the number of property companies within the UK that went into insolvency peaked due to increased prices.

Property insolvency can be a complicated and opaque process, wherever in the world you happen to be, requiring the advice of a specialist with knowledge of insolvency regulations and laws. Further, bankruptcy law varies widely from country to country, and this article is written from the perspective of property companies in the UK, so be sure to obtain the advice of a local attorney in these matters.

While no company wants to go into insolvency, with the right help and advice, it can be a simple and even liberating process.

 

Rise in Bankruptcies Caused by Improvements in the Property Market

You’d think that the increase in commercial property insolvencies would be largely caused by a struggling market. However, it’s actually the opposite. A lot of companies are being forced into insolvency because of improvements in the market.

After the initial financial crisis, banks ended up lending a lot of money to businesses. They have since struggled to get rid of this debt, as many companies have had a difficult time with getting back on track.

There was the worry that if they placed property companies into insolvency, it would further damage the market due to the sheer number of extra properties being put up for sale.

Now that there is some improvement within the commercial property sector, there is less concern about placing additional properties on the market, and banks are now starting to cash in on those debts.

 

Estate Agents Have Suffered Due to Economic Changes

The lack of demand and slow sales have really taken their toll, forcing many real estate agents to finally close their doors.

Then, too, realtors now face a lot of competition. The rise of online markets such as Rightmove, along with quick sale competitors, is causing genuine problems for traditional agencies. In particular, quick sale companies allow people who are struggling financially to sell their property quickly at a reduced rate. However, experts have warned that these companies are also affecting local property markets, giving customers a misleading idea of how much property is going for these days.

 

Know When to Cut Your Losses

The main issue commercial property companies have when it comes to insolvency is its complexity. It’s imperative that you choose reliable, experienced insolvency practitioners who will guide you through the process. They can help to ensure you’re doing everything correctly and no issues crop up along the way.

It’s obviously a tough to know when to cut your losses and apply for bankruptcy. However, with the right help you could even benefit from becoming insolvent. What, you might ask, are some of those benefits?

Firstly, the debts you’ve been struggling with will be completely written off, taking a major weight off your shoulders. While there are exceptions for certain debts, an insolvency practitioner will be able to help you understand exactly how the process will affect you and your business.

You’ll also avoid court action, which could have a serious negative effect on your business and your reputation. Once the company is in insolvency, it is worth keeping in mind that you will no longer be able to continue trading. You can, however, set up a new business. So a bankruptcy doesn’t necessarily mean the end; it could instead offer you a fresh start.

Now that the property market is starting to recover, there’s no reason why you couldn’t set up a new property business. Of course, you might want to cut your losses and try something new, but the option will be there without the worry of debt.

Overall, the property market has really struggled to get back on track after the financial crisis of a few years ago. While progress is being made, many regions are still struggling. Insolvency is sadly the only option for many property companies, but with the right help, it doesn’t have to be overly stressful.

source http://www.business-opportunities.biz/2017/04/26/ray-hope-struggling-real-estate-companies/

5 Things Self-Employed People Can Do to Prevent Lawsuits

5 Things Self-Employed People Can Do to Prevent Lawsuits

Being self-employed gives you the freedom to be your own boss, work when you choose and take holidays when you want. However, it also comes with responsibilities, and some of these are legal obligations. As such, it is important to familiarize yourself with current legislation to ensure you are working within the confines of the law. Here are a few things you can do to protect yourself from lawsuits.

 

1. Be Aware of Employment Laws

If you have employees then you will have to comply with employment laws even if you are only a small company. These laws vary depending on your area of work and the state you are in, so it is worth keeping up to date with them. Governmental entities can give you some advice, but when you’re drawing up contracts it is best to contact a lawyer. The hours your employees work, their pay and work conditions must be in line with legislation or you could be liable.

 

2. Familiarize Yourself with Advertising and Marketing Laws

Whether you are selling a product or service, it is important to be clear, transparent and truthful about what you are offering. If someone is injured or killed as a result of using your product or service, you could be liable. Make sure that you are open about what you are offering and don’t lie or mislead clients or customers.

 

3. Know Workplace Health and Safety Law

If you have premises then it is important to ensure that they are safe for staff, business associates and customers. Make sure that any equipment is safe for use and regularly maintained or replaced when needed. It is also important to put up signs where relevant to advise anyone on your premises of potential hazards like wet floors or forklifts. Some of the hazards that might seem obvious to you could be fatal to someone unfamiliar with your premises.

It is also important to ensure that both you and your staff receive health and safety training. A proper procedure should be in place and you should have clear guidelines for health and safety if staff go off the premises as part of their work.

 

4. Be Vigilant About Security

Your premises should be properly protected from intruders or criminals. Provisions should include locks, fences, security cameras and anything else to ensure the safety of people using the building. Be sure to carry out background checks on anyone who works for you and make sure they are permitted to work. If anyone is injured as a result of inadequate security measures, you could be liable, so be cautious. It is better to be safe than sorry.

 

5. Privacy Is Important

If you have access to personal information about your clients, employees or business associates, it is important that it is properly protected. While gathering this information might be an essential part of your business, it must be handled correctly. Keep up to date with all the privacy laws relevant to your industry and make sure you lock away any information you need to keep and destroy any information you don’t need to keep. It is also vital that you report any thefts of personal information. If someone is harmed because you haven’t properly protected their information you could be liable.

source http://www.business-opportunities.biz/2017/04/26/5-things-self-employed-people-can-prevent-lawsuits/

How to Start Investing Even if You Have Limited Funds: 5 Alternative Investments

How to Start Investing Even if You Have Limited Funds: 5 Alternative Investments

Do you think you need to have a lot of money before you can start investing? We’re here to tell you that waiting to invest could be a big mistake, and the truth is, you don’t have to. There are investment opportunities available to you right now. Start where you are and grow your investments steadily with low-risk ventures that provide reasonable returns. Read on for some ideas on how you can get started with building your investment portfolio today.

 

1. Become a Silent Partnership in a Small Business

If you’re not quite ready to start your own business but you have some money you’d like to invest, why not partner with other entrepreneurs who might be struggling with insufficient funding? Just be sure that any business venture you invest in is based on a sound idea and has the potential to grow.

Even better, diversify by seeking out several such ventures, especially those which have already proven themselves in the marketplace to a certain extent. Your funding could give a worthy new business enterprise the opportunity to grow to the next level, and you could benefit as well.

 

2. Get Involved with Real Estate Crowdfunding

Many people have discovered that the best way to succeed in real estate investing is by pooling resources and investing as a group. These days, it’s easier than ever to get started investing in real estate, thanks to online crowdfunding platforms. Another way to go about it is by networking within your community or on social media. Find others like you who want to pool their money in order to participate in a larger investment opportunity than any one of you could do on his or her own.

Real estate lends itself to crowdfunding because it’s a tangible asset. Further, real estate crowdfunding is easy, requires low investments, and provides large returns within a relatively short time. Get started now with real estate crowdfunding, and you could eventually own a good-sized real estate portfolio.

 

3. Trade on the Stock Exchange

You don’t need millions to invest in the stock market. There is no minimum number of shares to you need to purchase, and most of the time there are few or no investment requirements. Some well known public companies trade their shares at a price that is quite affordable, and there are even some high flying stocks that are reasonably priced because they have undergone splitting several times.

If you choose to invest in the stock market, be sure to conduct thorough research before you start buying or selling. Look at the profit and loss statements of the companies you’re considering investing in, and read what analysts are saying about them. Start early, be smart about it, and you could end up owning large stakes in several different corporations within a few years.

 

4. Invest in Government Securities

Government securities are low-risk investments, where you can be relatively certain that you will not lose your capital. The challenge lies in the fact that they come with very low interest rates. You may not get rich by investing in government securities, but your money will be lot safer.

Some of the government securities you could invest in include bills, notes, bonds, and inflation-protected securities.

• Bills are good for short-term investments because they mature within a short time, typically a year.
• Notes might be the right instrument for you if you prefer a medium-term investment, as a note attains maturity in 2 to 10 years.
• Bonds would be a good investment for you if you are willing to invest your money for the long haul, as bonds take 10 to 30 years to mature.
• In the U.S., Treasury Inflation Protected Securities, or TIPS, are a good option for many investors because the government not only pays interest but also increases the principal value of your investment based on the Consumer Price Index.

 

5. Consider Peer-to-Peer Lending

Peer-to-peer lending benefits both the investor and the borrower by eliminating the middleman—the banker. Offering the possibility of high returns, it is also a high-risk investment. How it works is that you charge the borrower a low fee in return for the potential of higher returns from your investment.

In order to mitigate your risk, invest small amounts with several individuals. In this way, you will maintain a high quality portfolio even if one or two loans are not performing. Begin with a small investment and plan on growing your investment base from there. Keep in mind that peer-to-peer lending is illegal in some jurisdictions, so check the local laws where you live before you invest in this way.

source http://www.business-opportunities.biz/2017/04/26/start-investing-even-limited-funds-5-alternative-investments/

Top 3 Fatal Business Plan Mistakes

Top 3 Fatal Business Plan Mistakes

After mentoring hundreds of business executives and students during the business plan creation process, I have collected the ultimate list of reasons why business plans are rejected or given a low grade. This article describes the top 3 reasons.

 

1. The Business Plan Is Unfinished

The most common reason that business plans fail is because important parts are missing. The parts that are missing are often the hardest parts to write, and this is why they are missing. People simply put off writing them.

The industry trend section is one of those hard-to-write sections. However, it is a crucial section of the business plan that reveals growth projections for the industry that the business in. For example, is the industry shrinking or growing, and how does the company plan to handle this change?

The financial statements, including monthly cash flow, income statement, and annual balance sheet must be designed according to accounting standards in the country that the business plan is being pitched in. I cannot count the number of times I have seen a company from a foreign country with foreign financial statements try to pitch in the US. It just looks sloppy.

 

2. The Business Plan Has “Hockey Stick” Profit Projections

The second largest problem with business plans is overly optimistic profit projections.

A graph where revenues grow slowly at first and then sky-rocket through the top of the page in a hockey stick shape are often laughed at by angel investors and venture capitalists because they see the same chart in every presentation. After 500 presentations with unrealistic profit projections, a reasonable and conservative presentation is refreshing and well received. If you are in doubt about your profit potential be less optimistic; otherwise, you will be unable to defend your proposal. Overall, try to avoid embarrassing moments like having to admit that you didn’t do proper research prior to presenting your plan.

Some business plans go so far as to claim that they have “no competition.” This is most likely always false unless your business plan is to run an ice-cream store on the moon.

 

3. The Business Plan Has Spelling Mistakes

The most helpful tip I have tried for finding spelling mistakes is to read each sentence backwards, starting with the last sentence. For example, you would read this sentence as, “as sentence this read would you example for.” This method forces you to look at each word separately and keeps your mind from automatically filling in the correct spelling.

In order to find grammar and punctuation mistakes, read each sentence out loud, starting with the last sentence on the page. For example, I edited this page by first reading aloud the sentence, “she has helped several firms optimize their business strategies before pitching to angel investors in the local region.”

 

When in Doubt, Hire Professional Help

Writing a business plan can be a daunting process, but the success of your company depends on your ability to craft a well written and well researched business plan. If you have the ideas but are having writer’s block then contact a professional writing service. There is no shame in hiring a professional editor or mentor to help you through the process.

Writing a business plan is only half of the battle. The other half is presenting the plan. Mentoring services can assist you in doing both the writing and the presentation of your business plan, and a stellar service will do the necessary research on competition, risk, licensing, and marketing. Look for a service with a strong track record that will make detailed Strength-Weakness-Opportunity-Threat (SWOT) analyses and compile reports on Porter’s Five Forces for business plans.

 

About the Author

Danielle Hendricks is an academic mentor at ACAD WRITE. In her free time, she is known for writing outgoing and funky pieces about the startup scene in Santa Fe, New Mexico. She has helped several firms optimize their business strategies before they pitch to angel investors in the local region.

source http://www.business-opportunities.biz/2017/04/26/top-3-fatal-business-plan-mistakes/

Beyond Basic SEO: How to Get Inside Your Sales Prospect’s Head with the Right Marketing Tech

Beyond Basic SEO: How to Get Inside Your Sales Prospect’s Head with the Right Marketing Tech

You’ve launched your site and learned the basics of good on-site SEO. Thanks to that hard work, your prospects are starting to find you on their own. But now what?

Are you able to derive the maximum business value from the prospects who find your online content? And more importantly, what would it mean to your bottom line if you could read your visitors’ minds and give them exactly what they need before they even know to ask for it?

Seventy percent of the customer journey now takes place before your lead ever contacts a human at your company – so publishing useful advice is a critical piece of the puzzle. If someone finds you, but can’t find the information they need from you, you’re dead in the water before you even get started.

But with the right strategy, the right intelligence and the right marketing tech to support it, we can help you get past this hurdle and start really nurturing your prospects.

 

A Quick Review of SEO Basics

Before you start adding on marketing tech, let’s make sure you’ve got the four key pillars of good SEO in place.

1. Keep your site fresh. Always keep your website up to date; when search engines know you’re actively providing fresh information to readers, you’ll rank higher in the search results. Fresh, relevant content also helps keep people on your site longer – if they find old or outdated info, they won’t stick around.
2. Post unique content. High-quality, non-syndicated content matters to the search engines. If you post content that’s been published elsewhere, Google will rank the first site they see the content on, which isn’t going to be yours. It’s okay to refer to existing content for ideas, but add your own thoughts and ideas to make it as relevant as possible to the value proposition of your own brand.
3. No keyword stuffing. Your keywords and phrases should fit naturally into the content – meaning they don’t sound awkward, and shouldn’t be used every other sentence. Use a good plugin like Yoast as part of your blog’s SEO building blocks to make sure you’re within acceptable limits.
4. Build links. “Offsite SEO” matters too, so make sure you’re getting inbound links from only high-quality websites. This tells Google and other search engines that your website has authority. Make sure the pages you’re linking to from your blog, both on and off your site, are loading correctly. If they’re broken, they could do more harm than good for both your readers and your rank.

Of course, there’s much more to good SEO than this, but these basics will get you started in the right direction.

 

Converting Visitors to Leads

So you’re ranking and traffic’s coming in. Now, how do we turn those visitors into sales leads? There are a ton of lead generation strategies out there, and it’s a good idea to use several.

Here are a few ideas to get you started.

• Add a form to every page. Give your visitors opportunities to connect. Whether it’s to sign up for your newsletter, or download a report, make it easy to gather information with an online form. Use an email marketing platform like MailChimp to help you create custom forms and integrate them into your mailing lists.
• Create lead magnets with solid calls to action (CTAs). A lead magnet is any kind of content that your customer wants, whether it’s an internal tool that could be useful, a special report with solid industry data, or a long form workbook. If you don’t already have something like that, think about what you could create. By giving away high value content in exchange for contact information, you are building the foundation of a solid customer relationship.
• Add videos to build trust. Video puts a face and personality to the words on the screen – making it easier for people to build a connection. Use videos that share information that makes things easier, better or more understandable for your prospects, and encourage them to subscribe to your YouTube channel or newsletter for more.

 

The Big Hairy Problem with On-Site Lead Gen

Putting these ideas in place can definitely help you begin to gather leads, but it’s not enough. The biggest problem is, on average, only 2% of site visitors do what you want them to do – leave their contact information to make themselves official “leads.”

The other 98% leave without a trace. Or do they?

Google Analytics (GA) can provide basic information, like what country the visitors are coming from, what platforms sent them and what they did on your site.

It can’t, however, tell you critical information like what they did on multiple visits, what companies or industries they are with, or if they called for more information.

This is where marketing tech can make a huge difference in your lead generation efforts. If you have Google Analytics set up for your site, it’s already gathering all the information you need to create viable leads. Sales intelligence tech tools can use the information gathered by your GA account and can parse it out into lists of companies that have visited.

You can then filter the results by area, industry, type of company, etc., and feed those results right into your customer database (CRM).

Once there, you’ll be able to see:

• who you already have in your CRM from that company
• who might be in your funnel already
• who you’re already connected to on LinkedIn at that company

LinkedIn, moreover, can help you get access to the decision makers within a company, if you’re already linked to someone working at the company. Every time you link to a contact in your existing accounts, you’re opening up access to hundreds of new connections.

You’ll also be able to see not only what pages your leads visited, but what actions they took. Our content choices reveal our deepest needs; you now have the ability to know exactly where your lead is in the sales funnel, and be able to reach out and offer the next piece of content or information to move him or her ahead. This is how you leverage data to build a solid relationship.

 

Conclusion

When you reach out in real time to real people anticipating their needs, it’s like being able to read their minds. Good SEO and content strategies are important for driving traffic, but you lose all that good traffic if they don’t leave their contact info. Smart technology added to your marketing stack will make a huge difference moving your leads through the funnel to close.

source http://www.business-opportunities.biz/2017/04/25/beyond-basic-seo-get-inside-sales-prospects-head-right-marketing-tech/

Robotic Process Automation: Your Business’s Next Step?

Robotic Process Automation: Your Business’s Next Step?

Robotic process automation, or RPA, consists of software that is used to perform routine tasks which follow a definite set of rules. RPA can process transactions, manipulate data, and trigger responses. It can be particularly useful in the areas of finance, accounting, supply chain management, customer service, and human resources. In short, if you run a business that is dependent upon the continual execution of repetitive tasks, you may be able to turn to RPA to make your life easier.

What makes RPA newsworthy is that it’s software that does the computer work that human beings do, and it is being used to take over more and more high-value jobs every day, including those in the information technology sector. As a matter of fact, it is beginning to replace outsourcing in businesses’ never-ending search for faster, more efficient, and less costly ways of getting work done.

Even more remarkable, RPA is scalable, meaning it is useful even for very large enterprises such as banks. Formerly, banks were reluctant to trust their data to these automated systems, fearing inaccuracies, lack of quality, and unreliability. However, with the latest improvements in these technologies, those fears have been largely lain to rest.

One could say that RPA is a natural step in the evolution of computing, one that has been foretold by writers of science fiction for decades. These days, most of us carry around computers in our pockets or purses that once would have required dedicated and specially cooled rooms in order to perform their functions. So it should come as little surprise that there are now software robots that have their own virtual workstations, and their own “jobs,” so to speak.

Some of RPA’s noteworthy qualities include:

• RPA services require little programming, as RPA’s virtual workers—its software robots—are able to learn “on the job” as tasks are assigned to them. To put it simply, a person with little to no training in software programming can intuitively “train,” or configure these robots to do the work they’re needed for.
• The work of these virtual workers is practically error-free.
• Software robots can complete in mere minutes tasks that would take a human being hours to perform. Some estimates of time savings with RPA as compared with human workers are as high as 80-90%. Human beings are needed only now and then for trouble-shooting and problem solving.
• High-profile companies are flocking toward the use of RPA as the benefits of implementing these systems become more widely known.
• The transition to RPA involves little disruption to existing computer systems, as all that happens is that software robots take over the jobs that human workers once performed.
• These virtual workers access end user computer systems exactly as humans do, except for the fact that they do not require actual monitors, mouse devices, or keyboards, but only virtual ones.
• An RPA system requires little technical support, and it is relatively easy to set up and use.
• RPA relieves workers of mundane tasks, allowing them to take on higher value work. Some experts believe that this will eventually lead to greater productivity.
• While RPA does require an initial investment, it offers businesses which adopt it a rapid decrease in internal costs and an equally fast and sometimes dramatic return on that investment, as high as 300-800% in some cases. In other words, RPA can save your business money.

It’s too early to tell what the effect of RPA will be on society overall, although there are some who believe that human beings will be freed up for more meaningful work, once RPA’s virtual workers have liberated us from the necessity of banging away on keyboards to perform repetitive and mundane chores.

source http://www.business-opportunities.biz/2017/04/24/robotic-process-automation-businesss-next-step/

What to Do When Your Business Needs an Influx of Cash

What to Do When Your Business Needs an Influx of Cash

When you’re in need of a loan, generally the first option that comes to mind is going to the bank and applying for one. However, especially after the disastrous financial crisis that engulfed the globe a few years ago, banks have started to be quite tough in selecting their candidates. This generally means that, unless you have a spotless credit score, you’ll most likely be rejected. And even if you get accepted, you’re bound to have little to no control over many of the conditions concerning your loan. If you’re looking for some fresh options, read on.

 

Small Business Loans

Governments in many countries support small businesses with loans and grants, because they know that small businesses drive the economy. Look into these options first, because if you’re able to obtain a loan or a grant in this way it could be more cost-effective for you in the long run. In the US, contact the US Small Business Association. In Australia, it’s the Australia Business Financing Centre, and the European Commission hosts the European Small Business Portal.

When you’re presenting your company for a small business loan, whether from a governmental agency or a bank, prepare thoroughly and carefully. Show that you believe in your business, dress professionally for your loan interview, and do everything in your power to persuade the lender that loaning you money to start or expand your business would be as good a deal for them as it would be for you.

 

Working Capital Line of Credit

You might learn, however, that either you don’t meet all the requirements or you’re not able to tolerate the restrictions of a government grant or loan. If that’s the case, what then? You might want to look into a working capital line of credit. If you choose this option, you will have more control over the cost of your loan, especially if you’re looking for a short-term loan for just a few days or weeks. This option could provide you with a fast solution to temporary financial problems.

As most business owners know, rough patches are inevitable. You can be the best entrepreneur ever and still find yourself in a bit of a financial pickle from time to time. This is why private funding companies put up business lines of credit. Such a line of credit can get you out of a tight spot, especially if you don’t know how much money you’re going to need. In a nutshell, it’s a win-win situation for everyone.

Working capital lines of credit are a great opportunity, because they don’t follow the same rigid rules as traditional credit. You get a certain amount of money, and you only use what you need. Then, when it comes to paying, there’s naturally a minimum amount that needs to be paid each month. However, if you’re particularly productive sometimes, you can pay as much as you want over your fixed rate. This means that you’ll end your payments faster, even if you signed up for a longer period of time.

Handling money can be tricky and can put you on the line sometimes as a business owner, and there’s little room for mistakes when the stakes are high. A working capital line of credit is a fast, easy, and fuss-free way to take care of the pressing financial issues you and your business might be facing.

source http://www.business-opportunities.biz/2017/04/23/business-needs-influx-cash/

How to Grow Your Business Online

How to Grow Your Business Online

If you’re running a business, it is vital that you put some effort into its online reputation. We’re living in a time when most people use the internet as opposed to looking locally when they want to purchase something. Even if your company is dependent on a local market, you need to establish an online presence to get people interested in your brand.

 

Why You Need to Market Online

The reason it’s vital to market on the internet using search engine optimization as well as other techniques is because the vast majority of your clients will find you online before they purchase your products or services. Even if your business is locally based and you rely on road traffic to keep revenue going, you still need the internet’s help to stay in front of your customers.

If, on the other hand, your company is internet based, online marketing is crucial to the success of your brand. The objective of running an online marketing campaign is to increase the number of people who visit your site every day. While not everyone visiting your site will make use of your services, by making it easier for people to find you online, you’re increasing your chances of boosting sales of your products or services.

 

What Is SEO?

There is more to branding your business than making a website and hoping that people will visit it. Search engine optimization, or SEO for short, is critical to the overall success of your online business.

Search engine optimization involves the use of carefully selected marketing strategies that are placed throughout your website so that your pages rank higher on popular search engines. If SEO isn’t implemented into your site, you’re taking a chance that people will have to scroll through multiple pages of search results just to find your company’s website. SEO is vital when it comes to getting your link ranking high on engines like Google and Bing. And when your link ranking is high, your company will be easier for people to find.

 

What Is White Label SEO?

You might have heard the term “white label.” A white label product is one that is made by one company but offered to the world as its own by another company by mutual agreement.

White label SEO takes this concept a step further. When you agree to allow a white label SEO company to utilize your brand when they market themselves, they will integrate search engine optimization into your site and you’ll get to expand your brand. Plus, you’ll get a discount for their work

 

Tips for Growing a Business On the Internet

Besides SEO, what else should you be doing to build a successful business on the internet?

1. Offer superior customer service. If someone emails you, give great customer service by responding immediately. If you’re having trouble responding right away, hire an outsourced customer support team to help.
2. Be active on social media. Millions of people use social media sites every single day. Set up business pages on Facebook and Twitter and prepare to be amazed at how many people will find your company through those pages. While you can pay for advertising on social media, it’s totally free to create business pages. Doing so will allow you to reach potentially hundreds or even thousands of new individuals who are interested in learning more about your brand.
3. Respond to all online interactions in a positive and professional manner. Hopefully, most of the comments you receive online will be positive or at least constructive. For those that aren’t, stick to the high ground when you respond. Resolve the person’s problem if you can. At the very least, offer helpful and timely responses that minimize the online damage and keep your reputation above reproach.

source http://www.business-opportunities.biz/2017/04/23/grow-business-online/

4 Top Reasons to Work from Home

4 Top Reasons to Work from Home

There used to be a time when people couldn’t fathom earning a living without going to a job. Today, however, it is not only possible, it is also becoming a trend to work from home.

Let’s be clear that making money from home doesn’t actually mean that there is no work involved, but simply that more and more, people are discovering they don’t need to commute to a job in order to earn their living. In this article we will go over some of the prime reasons why this convenient method of earning money has become so popular in recent years.

 

1. No Suits and Ties, No Dresses and Heels

Regular office setups usually have dress codes that require employees to wear business clothes when they go to work every day. Some people actually don’t mind that, and if that’s the case, those people can dress that way when they work at home if they like. However, many people like to dress more casually than they can normally dress at a job.

The point is, when you’re working from home, you can dress any way you like, however you feel most comfortable. Most of us aren’t able to do our best when we’re forced to sit stiffly behind a desk in conservative business wear for hours on end. For the most part, the more comfortable and relaxed the body feels, the more productive a person can be.

 

2. Be Your Own Boss

If you’ve always wanted to be your own boss, then working from home might be just the thing for you. No one will be looking over your shoulder, critiquing your every move. You’ll be free to do things your way. However, you’ll still need to please your clients if you want to keep working, and you will have a new boss: your bills.

 

3. Set Your Own Schedule

In a traditional work environment, employees clock in at a specific hour and clock out a specified number of hours later. Generally speaking, your schedule can be more flexible when you work from home. As we mentioned earlier, you’ll still need to please your clients, and many of them will have set deadlines that you will be required to meet. However, if you want to do your work at 3 in the morning instead of between the hours of 9 to 5,  no one will tell you that you can’t.

Difficulties may arise when friends and family misunderstand your meaning when you tell them you have a flexible work schedule. Yes, your work schedule may be flexible, but you’ll still need to put in the hours to get your work done. You won’t be able to drop everything when your best friend pleads with you to go to lunch with her, and your children may have to find ways to entertain themselves when you have work to do.

So you’ll need to develop some internal discipline and set firm boundaries with your loved ones when it comes to your working from home. Otherwise, your new boss—your bills—is likely to get short shrift. If that happens, your work-from-home plan could quickly go awry. However, with assertiveness, clear communication, and your own internal discipline, you can overcome this particular hurdle in short order.

 

4. Gain Hours Each Week by Giving up Your Commute

On the other hand, when your “commute” is only the few steps you need to take to get from your coffeepot to your laptop, you’ll find you have lots of time for working longer and harder than you ever did when you commuted to work every day. Depending on how far away from your home your old traditional job was, that could mean several additional hours in every week. Those hours, once wasted in your car or on public transit, you will now be able to invest into your new career.

source http://www.business-opportunities.biz/2017/04/23/4-top-reasons-work-home/

4 Tips on Outsourcing Your Projects

4 Tips on Outsourcing Your Projects

The concept of outsourcing usually conjures up images of jobs leaving Europe and the US and going to Asia, but that this isn’t always the case. This myth is an oversimplification of how outsourcing works because paying a lower price is not the only factor that determines the decision to outsource.

Many employers running e-commerce and online businesses are keeping their options open when it comes to where they’re willing to hire workers, prioritizing the right balance of cost and talent versus just the cheapest rate.

If, for instance, you needed to hire a ghostwriter for conversational blog posts, it would make much more sense to hire someone who is a native speaker rather than someone who speaks English, German, or French (depending on your country) as a second language. The native speaker would write with familiar colloquialisms and build rapport with your audience. Alternatively, it makes perfect sense to hire a developer from India or Singapore who has had a university-level educating in programming and can do the work at a lower cost than a local programmer. When it comes to say, JavaScript, it’s the same all over the world.

Let’s take a look at some FAQs about outsourcing:

 

1. How do you pay outsourced workers?

If you are hiring someone from overseas, an international money transfer can be done with relative ease. A system that is set up especially for this purpose makes the transaction much easier than the old-fashioned way of moving money between European or US banks to foreign countries. However, it’s fine to use traditional banking systems for paying independent contractors in your own country because there is no need to navigate currency exchange rates and different legalities.

 

2. How do you manage projects?

With an employee working in your office you can see whether or not they are doing the work that you assigned. However, how do you supervise an outsourced worker? You do it by defining the scope of the project and scheduling due dates. You make sure that everyone is playing from the same playbook. The more accurate and comprehensive your project requirements, the easier it is for the service provider to give you what you want when you need it. In other words, be clear on the deliverables.

 

3. How do you hire the right person?

Finding the right service provider is similar to hiring an employee. After you’ve evaluated their proposal for your bid, you have to ask questions. Talk to them on Skype to get a feel for their personality and to figure out if they have the knowledge, skills, and experience to do the work. Do you get a good gut feeling about them? You can also ask for references from past clients and contact them. Finally, you can have a probation period to see if they can deliver the work.

 

4. What is the biggest mistake you can make when hiring a service provider?

It takes time to find the right service vendor. Simply having a good system of evaluation does not mean that you will always find the right person. You might have to go through quite a few service providers to find the right person.

However, assuming you’ve finally found the right person and they do the work just the way you want it done, you have to appreciate the fact that you may not be able to find someone else with their unique skill-sets.

If you don’t treat them well, then you will have to start all over again, because they may decide not to work for you.

Here are three common mistakes that employers use to lose good outsource-workers.

• They are too critical. Under the guise of providing constructive feedback, they offer harsh criticism.
• They are cheapskates, paying as little as possible while demanding a high quality of work. Many employers also never make any effort to raise their rates even after years of loyal effort and then are surprised when their outsourced worker quits.
• They allow scope creep to destroy the relationship, expecting the worker to do things for free outside the defined project. For instance, they ask a ghostwriter to add keyword research to improve the article when they are still only paying them the original price per word. Sometimes scope creep is more subtle. They ask for extensive revisions without any compensation for the worker’s time.

While you may have found the perfect service provider, you also have to do your bit to be a fair and reasonable employer. You will only succeed in outsourcing if you focus on using a win-win approach.

 

source http://www.business-opportunities.biz/2017/04/23/4-tips-outsourcing-projects/

Learn EXACTLY How to Set up an Online Business

How to set up an online business

I was travelling years ago and picked up a copy of the “How to set up an online business” magazine at the airport. The book was so helpful I ended up reading it multiple times – earmarking pages, high lighting, underlining and making notes. I’ve read a lot of business books in my day and most offer one or two great ideas. This book was different. It included detailed instructions how to: Start without any money Find a great idea Choose the right platform (WordPress, Big Commerce, Shopify etc) Find and stock products

More importantly though, this book showed me step-by-step HOW to set up a online business and website.  That is how I learn – I need to be shown every little detail. Most business books give me a tidbit or two. This one was specific, thorough and helped me tremendously.  If you are looking to start an online business and create a website, I highly recommend you get a copy of this book. It is an annual publication so I purchase an updated copy every year. I was just ordering my 2017 copy and thought…I need to share this great book with all of you. Of course there is always a hick up. The book (which looks like a magazine) is not easy to find. It is published in the UK. If you are interested in purchasing one, you can click here.  NOTE:!! You can also find older copies for sale on eBay. They might be the 2014 or 2015 editions, but I have those and they are excellent and still very relevant. That’s it! Just wanted to share one of my greatest resources with you. Please remember to share this post if you like it or think it will help someone you know!

source http://www.business-opportunities.biz/2017/04/22/set-online-business/

Invest in Safety Measures Now to Protect Your Profits in the Future

Invest in Safety Measures Now to Protect Your Profits in the Future

If you and your employees mostly push paper and pound keyboards, you may think your business is immune to safety hazards. If that’s what you’re thinking, think again.

Workplace injuries can be expensive, even in office-based businesses, sometimes requiring thousands of dollars for direct costs such as medical care, property loss, and litigation. Indirect costs, such as lost productivity and disrupted customer service, can boost those losses even higher.

For the most part, though, workplace injuries are avoidable. By focusing on preventing injuries and ensuring workplace safety, you can make your place of business a healthier one for yourself and your employees. In the process, you’ll also protect your company’s bottom line.

 

Identify Hazards

Workplace safety hazards vary depending upon where in the world you are located and the type of business you’re in. If your company is involved with manufacturing or construction, for example, workplace safety will likely be highly regulated and monitored by governmental agencies.

But even office-based workplaces offer their share of safety hazards. What safety hazards should you watch out for in your company’s office?

• Falls are one of the chief ways that people injure themselves at work. Eliminate trip hazards and keep this type of injury to a minimum.
• Ensure that electrical sockets and power cords are not defective or damaged, and use extension cords only as a temporary solution.
• Make good housekeeping a habit. Not only is clutter unsightly, it can also make your workplace less safe by blocking exits, creating fire hazards, and attracting pests. Encourage good housekeeping by giving employees a set time every week to clear clutter from their own desktops and work spaces. As an added bonus, a set time when all employees pitch in to clean their work areas can also become a regular occasion for building camaraderie and encouraging teamwork.
• Store cleaning supplies in a location all their own. Some products that are routinely used for cleaning are flammable or toxic. Store them safely out of the way when they’re not being used.
• Keep emergency exits free and clear, and make sure that everyone knows where these exits are located.
• Insist on a drug- and alcohol-free workplace. When an employee’s judgment and coordination are impaired by drugs and alcohol, injuries are much more likely to occur. In addition, productivity and customer service are bound to suffer as well.
• When employees are frustrated by work stations that cause them physical discomfort, they can’t possibly perform at their optimum level. So if you really want to improve worker productivity, you can’t go wrong by providing ergonomic solutions that help employees avoid repetitive movements and practice better posture on the job.
• Keep emotional stress to a minimum. Overly long hours with few breaks, as well as job insecurity and conflicts with managers and coworkers, can affect productivity. Take steps to ensure that everyone feels emotionally healthy on the job and watch your profits rise.
• Further ensure the safety and emotional health of your office workers by testing job candidates for drugs and alcohol use during the hiring process.

 

Have a Plan and Train Employees to Follow It

Once you’ve identified the hazards, put some policies and procedures in place to ensure that your workplace becomes and remains a safe place. Then, make sure that all of your employees know and comply with those policies and procedures. Further, ensure that everyone knows what to do in case of fire or a natural disaster.

 

Set a Good Example

This may sound obvious, but it counts for a lot: Follow your own safety rules. You’re the leader of your organization, after all, in this as in every other way. While you’re at it, make it easy for employees to report safety hazards when they notice them.

 

How Will Your Business Benefit?

On average, adult workers around the world spend roughly a third of their total waking hours on the job. They have a right to expect that their safety will be taken into consideration while they are there. What’s more, your employees are your most important asset, and it’s to your benefit as well theirs that you provide them with a safe place in which to do the jobs you’ve hired them to do.

But you and your business will benefit in other ways as well. When you take steps to improve safety in your workplace, not only will your spending decrease for obvious safety-related expenses such as healthcare and legal costs, but also your company will enjoy improved productivity and better financial performance overall.

source http://www.business-opportunities.biz/2017/04/20/invest-safety-measures-now-protect-profits-future/

Time Tracking: A Great Strategy for Business Growth

Time Tracking: A Great Strategy for Business Growth

Not long ago, workers were accustomed to using simple punch cards that were limited to monitoring attendance.

Today’s companies have complex needs, however, and technological advancements now enable startup teams and quickly growing organizations to track employee time in a cutting-edge way.

Great things happen when businesses make a deliberate effort to know how employees are spending their time at work. From eliminating distractions to decreasing the time spent on calculating payroll, the advantages of using a time tracking software all lead to massive business success.

 

The Benefits of Time Tracking as a Growth Strategy

• Discipline at work

  A sad reality is that a lot of employees in the office are not really focused on their jobs. There are dozens of things competing for their attention: Overly talkative co-workers, television shows, social media, and personal emails or calls.

  When workers are aware that their time is being tracked, they develop a sense of accountability and responsibility for their actions. They become more aware of unnecessary distractions and avoid them to maximize their schedule.

• On-time delivery of projects
  
  Being on schedule is important for a project’s success. If you are to build strong business partnerships with other companies and maintain your reputation, you need to make sure that project deadlines are strictly met.

  Encouraging your employees is not enough to help them stay on track. A time tracking tool that allows you to specify the duration of a project serves as a concrete visual reminder to prioritize work.

• Accurate payments
  
  Do you charge your clients by the hour or pay freelancers based on the times they work? To make sure that payments are made precisely and fairly, you should make use of time tracking.

  There are time tracking tools that not only record time, but also automatically take screenshots. That way, you will know what a worker has worked on, how much time they really spent on a task, and whether they are mindlessly wasting time by opening social media sites and shopping online.

  Tracking time enables workers to get paid based on accurate time data rather than mere assumptions. This also increases transparency and builds trust.

• Performance evaluation and employee feedback

  Performance reviews can positively affect workplaces when done the right way. Part of planning for successful employee feedback is the use of time tracking.

  Time tracking helps managers to provide timely and precise feedback based on insights gathered from the tool that is used to monitor hours worked. With a time-tracking tool, hardworking employees can appreciate the fact that they have an opportunity to be recognized and given a promotion for their commitment at work.

 

5 Best Practices for Time Tracking

1. Provide adequate training

   To ensure a smooth transition and help employees effectively track their time, training is needed. When workers understand the advantages of time tracking not only for the growth of your business but also for a better employee incentive program, they will be more compliant.

 

2. Show real life situations

   Another way to convince people of the power of time tracking is to show case studies of organizations that flourished by using a tracking software. Demonstrate the step-by-step process that other companies followed, the challenges they encountered, and positive results.

3. Make it a requirement

   Let everyone in your company know that logging in their time is not an option but a requirement. Being lax about the use of your time tracking tool can defeat its purpose of bringing you better work outcomes. It only takes a few minutes to start the tool before each work shift.

4. Assign someone to review results

   To detect problems as they happen, someone in your team or company must act as an “overseer.” Make sure that the person cannot be easily influenced by co-workers who might have intentions to cheat the system.

5. Choose a software that meets your business needs
   
   Before purchasing a time tracking tool for your company, check whether its features meet your needs. Do you need a simple software or one with multiple complex features? Some tools incorporate billing and invoicing in addition to monitoring time. It’s important to consider the right tool that will stay usable for years to come.

 

Final Thoughts

It’s a great thing for top management to get an overall picture of how well workers are using their time. With time-tracking software, managers can easily analyze results and correct areas that need attention. Indeed, time tracking makes an excellent strategy for company growth since it streamlines processes and motivates employees to do their best.

 

source http://www.business-opportunities.biz/2017/04/19/time-tracking-great-strategy-business-growth/

The Basics of Efficient Inventory Management

The Basics of Efficient Inventory Management

It’s not enough to just have an inventory management system in place. It should be an efficient inventory management system. What does it mean to have an efficient way of managing inventory? Consider the following guide.

 

1. Take a Holistic Approach to Inventory Management

Inventory management is not just about how many and how much came in and went out. You also have to take your storage capacity into account. At the same time, you need to have fairly accurate projections of your inventory movement.

Inventory management, after all, is not just about keeping details of your inventory. It also involves planning your inventory, particularly when it comes to how you store your inventory, how often to place orders, when to place orders, and ensuring that you move inventory in the right order, especially if you are dealing with perishable goods.

 

2. Centralize Inventory Management and Use a Real-Time System as Much as Possible

Use a centralized and real-time inventory system, one that covers inventory management in all parts and operations of the company. Make this system accessible to multiple users, with appropriate permissions.

If you are going to use computers for your inventory management, invest in a truly efficient system instead of using your computers merely to copy, transfer, and verify data manually. If you are using an old inventory management software that does not afford the advantages of centralization and real-time data monitoring, it’s time upgrade or consider getting new software.

 

3. Automate Data Entry

Most inventory-related data nowadays can be automated, and there’s no need to go through tedious manual processes. Make better use of your employees’ time by having them do more meaningful work instead of manually inputting data that could be entered automatically. Automation significantly reduces errors and yields real time inventory data, records, and reports.

 

4. FIFO and LIFO Are for Costing Purposes, Not for Actual Physical Inventory Movement

You may have heard of the terms FIFO (First In, First Out) and LIFO (Last In, First Out). FIFO and LIFO are cost accounting terms that are used in assigning costs for the products sold.

Generally, you should be selling the first arrivals or the older stocks first to avoid keeping old or near-expiring products in your inventory. This is the FIFO method. You need to carefully plan how to physically arrange your stocks to make sure that the first to come in are also the first to go out or be sold. Even if your accounting department uses the LIFO method, you should be selling the first arrivals first.

The exceptions are instances when certain products or product variants or brands have the potential to rise in prices in the near future. In those cases, you might prefer to keep them so that you can sell them when you can get higher profits.

 

5. Learn to Make Projections, Especially When It Comes to Costs, Sales, and Profits

Inventory management is not just about keeping records of your inventory. You also have to take into account the effect of inventory management on other aspects of your business. That’s why it is necessary to learn how to make projections or forecasts. Be mindful of seasons when sales could go up or down. Learn to be dynamic and to communicate with other departments to take advantage of opportunities when you can get low costs for new stocks and when you need to obtain more stocks than usual in preparation for increased demand.

 

These are just basic ideas to bear in mind as you manage inventory. There are many other advanced strategies and concepts you should consider learning, as well. As you venture with your first steps in inventory management, though, you can be sure that the points discussed here will guide you in efficiently handl

source http://www.business-opportunities.biz/2017/04/19/basics-efficient-inventory-management/

Laws Every Small Business Owner Needs to Be Aware Of

Laws Every Small Business Owner Needs to Be Aware Of

You don’t need to go to law school to run a business,but it is a good idea to read up on the laws that are relevant to your industry. For example, if you are a building contractor there will be building and health and safety regulations that you have to adhere to. A good way to find out about any legislation that pertains to your company is by getting in touch with associations that arerelatedto your area of business. Laws are constantly changing so even if you are well informed, it is best to keep up to date with the latest rules to ensure your business and employees are operating within them.

It is also a good idea tovisit the business development office in your city, as they will be able to let you know about any local laws that could affect your business. This is worth doing, whatever your line of business.

Legislation varies from location to location and depends on the industry you work in, but here is a general guide to some laws that most companies need to be aware of.

 

Laws aboutAdvertising

All of your advertising needs to be honest, and you should be careful not to mislead your customers. Exact legislation varies depending on whether you use ads on the internet, post billboards, or advertise on TV so make sure you have a good understanding of consumer protection and marketing laws. Checking before you launch an ad or a product could save you a lot of embarrassment and even prevent a law suit, so be vigilant.

 

Online Business Legislation

Whether you do all or just some of your business online, it is important that your firm complies with any relevant laws. These include but are not limited toprivacy, tax, and copyright laws.

 

Labor and Employment Laws

If you have employees then it is important to ensure that the contracts you provide them with are legal and that their working conditions are in line with legislation on benefits, health care, pay, health and safety and anything else relevant to their job. Contracts should be easy to understand and properly drafted to ensure clarity and protect both you and your staff.

 

Foreign Workers and Employee Entitlement

It is important that you carry out all necessary checks on all your workers before they are put on the payroll. Ensure that they have the relevant paperwork and the right to work in your country. Carry out background checks to ensure the safety of both your customers and other employees. If in doubt, check and double check.

 

Privacy Laws

Personal information can be very sensitive. No one wants their private information to get into the wrong hands, and your customers, clients and staff will want to know that any personal information you have of theirs is safe. Familiarizing yourself on the latest privacy laws relevant to your industry will ensure that you handle their information professionally and legally.

 

To avoid law suits and hefty fines, it is important that you are familiar with the laws that affect your business. Do your research before making any changes to your company and consult a lawyer to help draft contracts. Being well informed and attentive will help you maintain your company’s reputation and avoid litigation.

 

source http://www.business-opportunities.biz/2017/04/18/laws-every-small-business-owner-needs-aware/