What You Should Know About a Performance Bond

The construction industry is a resource-intensive industry where a lot of money is at stake. Hence, it becomes necessary to secure contracts for guaranteeing their successful completion. Additionally, construction companies need to ensure satisfactory work quality. This is where a performance bond steps in.

A performance bond is a surety bond which is issued to contractors or subcontractors by an insurance company (or sometimes a bank). It is a guarantee that the contractor will complete the job in a satisfactory manner.

Construction projects undertaken by general contractors as well as small business subcontractors are covered by a performance guarantee. The purpose is to provide assurance to the project owner that the contractor will actually complete the project per the contract terms.

 

RELATED ARTICLE: 5 TIPS THAT WILL HELP YOU GET A START IN THE CONSTRUCTION INDUSTRY

 

How Does a Performance Bond Work?

Performance bonds are an integral requirement for government projects such as roads and bridges. It comes into play in case the contractor is unable to complete the project according to the contract’s specifications. In such a scenario, the responsibility of project completion falls on the surety bonding company. They either have to pay for the completion or hire another contracting firm to wrap up the project.

In this way, a performance bond protects the project owner against possible losses in a case a contractor fails to deliver. The bond also applies in case the contractor defaults or declares bankruptcy. In this situation, too, the surety will have to compensate the owner for any losses. The amount covered under the bond defines the compensation value.

It is worth noting that only the project owner can claim payment from the performance bond. The contract has to be very specific and clear to make an effective performance bond.

 

How Is a Performance Bond Issued?

A contractor has to apply for a performance bond by first making a bid for a particular job. Once a project owner accepts the bid, the contractor can apply for the bond. The entire process is complex. The contractor has to undergo a stringent qualification process. For this purpose, they need to seek the services of a professional bond provider such as Swiftbonds.

The provider streamlines the process for the client. Factors such as the contractor’s reputation, customer rating and length of time in the industry influence their chances of qualifying for the bond. The surety company runs financial checks on the contractor’s business. At the same time, the contractor should also check the background of the surety.

 

 

Costing of a Performance Bond

Contractors must provide a performance bond in order to meet the contractual requirements of the projects they undertake. The premium for the performance bond becomes part and parcel of their budget. Therefore, it is important for them to understand how the costing of the bond works.

The cost may vary from project to project and company to company. Generally, the premium ranges between 0.75-3% of the project cost. It is higher for the smaller projects and lower for the bigger ones.

Having a professional bond service is a good idea. Such a service will simplify the process of procuring a performance bond. Contractors should, therefore, partner with experts to ensure smooth running of their business.

 

About the Author

This post was contributed by Antony, who has served as a financial advisor to reputed firms for 15 years. He often shares his views via detailed posts written for Submitcore and digital magazines.

The post What You Should Know About a Performance Bond appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/31/performance-bond/

Work-Related Injuries: What Are Employers’ Responsibilities?

Accidents are unexpected by definition. Accidents do happen, however, and sometimes they happen on the job. When they do, work-related injuries sometimes ensue. What’s more, both employees and employers bear a certain amount of responsibility when that occurs.

Automobile accidents are the most common of all accidents. Sometimes these are work-related. Slips and falls follow closely behind, leading to numerous work-related injuries.

Wise employers institute policies that prevent work-related injuries. In so doing, they save their companies from countless hours of lost productivity, as well as heavy financial burdens.

Because of recent technological advances and more strictly enforced regulations, the numbers of work-related injuries have decreased in recent years. Nonetheless, work-related injuries are impossible to completely eliminate. What’s more, the severity of injuries from work-related accidents is generally greater than other personal injuries.

Employers need to prepare for accidents and work-related injuries. That’s because injured workers have certain rights. For example, employees can expect to be compensated for the losses they suffer in an accident at work. Nowadays, injured workers can even use a personal injury calculator. This tool can give employees some idea of the compensation they are entitled to.

 

RELATED ARTICLE: DIRECT AND INDIRECT COSTS INVOLVED IN WORKPLACE ACCIDENTS

 

Establishing Responsibility in a Work-Related Injury

Both employer and employee bear some responsibility in a work-related injury. For example, the employee has the responsibility to comply with the requirements of the position. The employer’s responsibility, on the other hand, is to ensure that they have taken all of the necessary precautions in order to prevent accidents.

After an accident occurs, either an internal investigation or a governmental investigation will determine which party bears the greatest responsibility. In other cases, such as in most European countries, independent investigations make this determination.

 

Tougher Laws Around Work-Related Injuries

The government of Spain recently enacted tougher work security measures. They did this after several years in a row of having one of the highest rates of work-related accidents in Europe. Spain’s new employment law specifies that the burden of proof is on the worker. That is, the employee must prove with specific evidence that the employer was at fault in the accident. Only then will the Spanish employee receive compensation for the work-related injuries he or she sustained.

 

The Employer’s Responsibility for a Work-Related Injury

Work-related accidents will happen. Therefore, employers must at all times have specific regulations in place. After an accident, the employer has specific duties which include:

• Ensuring immediate medical care to the injured employee
• Reporting the accident to proper authorities
• Recording the accident
• Ensuring the payment of medical leave for the employee

The employer must also cooperate with the authorities and other institutions involved in investigating the accident. Among these institutions, insurance companies play an important role. That’s because most companies have insurance policies which protect employers to some extent.

Asian countries are the best examples in this case. For instance, Malaysian employees have the right to employment injury insurance under a national scheme put in place by the government. The responsibilities of the employer don’t stop at ensuring the care of the injured worker and cooperating with authorities. They must also allow the employee to return to work after the recovery period without any penalties.

 

 

Accident Prevention: Everyone’s Responsibility

Work accidents are not easy to resolve. Further, investigations in serious cases can take a longer time. However, the employer has the duty to put all available resources to the disposition of those investigating the accident. What’s more, it benefits everyone to carry out an independent verification. Doing so can prevent similar accidents from happening in the future.

The post Work-Related Injuries: What Are Employers’ Responsibilities? appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/29/work-related-injuries-responsibilities/

E-Commerce Platforms: What’s the Best Place for Your Business?

Are you thinking of foraying into the world of online business? Then it’s likely you’re contemplating which e-commerce platforms to go with. This is obviously one of the first thresholds to starting an online store.

It’s been some time since e-commerce platforms first hit the market. Since then a lot has evolved.

It’s interesting to see which of the current e-commerce platforms will serve your needs well.

Here are some you can consider:

 

1. WooCommerce

WooCommerce is not exactly a full-fledged platform. However, it’s an e-commerce plugin designed for WordPress. To use this platform, you will need open-source WordPress and reliable web hosting. When you install it on the site and activate it, you can turn any WordPress site into a full-fledged, completely functional online store. From there, you can manage coupons, product pages, and inventory. Additionally, you’ll be able to display items and describe them. It has many other features too numerous to mention here.

Pros

• The plugin is available for free, and that’s all you need to set up your store.
• You can connect it with almost all major payment gateways.
• You hardly have to do anything besides add content.
• WooCommerce comes with an extensive library that lets you offer discounts and coupons. It has several other features as well.

 

RELATED ARTICLE: HOP ON BOARD THE E-COMMERCE TRAIN AND HANG ON FOR THE RIDE AHEAD

 

2. Shopify

This e-commerce platform was built in 2004. Since then it has helped countless online stores. This platform is based in Canada and has been evolving constantly since it started.

Pros

• Offers abandoned cart recovery.
• Choose among myriad extensions, plugins, and themes.
• You can integrate Shopify with a Facebook account for a small fee. Currently, this is only $9.
• You can create a mobile-friendly shopping cart.
• Shopify offers technical support through phone, tutorials, and live chat. There’s also an online community where you can get answers to your questions.

 

3. Magento

An open-source platform for building ecommerce websites, Magento started in 2008. Two of the major factors that have made Magento such a popular name are its scalability and its reliability. Some of the websites hosted on this platform include those of Liverpool FC, Pepe Jeans, Huawei, and Burger King.

Pros

• Magento supports more than 9,000 plugins and countless extensions. This makes it one of the most scalable e-commerce platforms out there.
• Easy to use and manage.
• Open-source platform with room for limitless customization.
• Social media extensions available for free usage.
• A huge library for new plugins, store management, demos, and everything that an e-commerce store could ask for.

 

 

4. BigCommerce

BigCommerce houses more than 55,000 online stores, making it one of the most popular e-commerce platforms ever. It has powered websites of brand names such as Toyota and Martha Stewart. You don’t need to have any coding knowledge before you start using BigCommerce.

Pros

• Myriad built-in features including shipping, analytics, taxation, coupons, newsletters, etc.
• No transaction fee.
• All the themes are responsive (free and paid both).
• You can integrate your store with eBay, Facebook, Google Shopping, etc.
• Easy to set up, with countless tutorial videos as guides.

 

5. OpenCart

OpenCart is an incredible platform that is pretty straightforward to use. While it creates lightweight websites, the platform is free to use. And in case you ever run into a problem while you’re designing your store, you can turn to a community to get answers to your questions.

OpenCart is particularly good for startup companies that want to function on a relatively small platform.

The store is pretty easy to set up. The overall cost is low, too. You don’t need to invest in any plugins, and themes are not expensive, either. You can manage things on your own, without having to hire a developer.

Pros

• Low startup cost makes it ideal for entry-level online stores and businesses.
• Solid features with a large catalog functionality.
• Effortless order processing.
• Designed for ease of use.
• Light on resources.

 

Conclusion

Of course there are myriad other e-commerce platforms available, including open-source platforms. However, the platforms mentioned here are the crème de la crème. Keep in mind, though, that there is no one-size-fits-all platform when it comes to e-commerce platforms.

In order to decide which one is best for you, do some research and establish your business needs. Choose the one that has the features that your online store most needs.

The post E-Commerce Platforms: What’s the Best Place for Your Business? appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/27/e-commerce-platforms/

6 Tips to Starting a Successful and Lucrative Side Hustle

Perhaps you’re looking to earn some extra “walking around” money. Or maybe you’re having trouble making rent. Whatever your reasons, if you’ve hit this article, then you’re likely looking for a side hustle. That is, you want a spare job outside of your other work.

Stepping into another faction of the work force is a daunting task. But don’t worry; we’re here to help. This article includes 6 battle-tested tips to help you step out into the hustle. In the process, you can earn a little extra dough and have some fun.

 

1. Find a Side Hustle that Works for You

Side hustles come in many shapes and sizes. From multi-level marketing (MLM) companies like Mary Kay and Amway, to dog walking, online surveys, child care and more. The options are positively endless.

Some side gigs require an upfront investment in the company, while others are free. If you’re starting out on your own, you might incur marketing and associated start-up costs for your new business. For example, if you’re going to do yard work on the side, you may need tools and a way to transport your equipment from location to location. Likewise, if you’re going to open up a business services company you might incur marketing expenses and other software costs.

So how do you choose what will work for you? First, find something that fits your interests. If you can’t stand make-up, Mary Kay is not the hustle for you. Allergic to dogs? Then dog walking or pet sitting is out of the picture. You don’t have to be passionate about your side gig, but it should be something that you don’t dread doing every day.

For example, if you have a creative streak and enjoy making things with your hands, consider selling homemade jewelry or crafts on Etsy. If you enjoy reading and writing, consider writing content for small businesses or editing copy for writers.

Next, look into what’s popular in your area. Demand often equals more opportunity, and greater opportunity generally means easier sales and more money (if that’s your goal).

If you live in a city, chances are Uber and Lyft are doing quite well providing rides—and thus drives. If you live in a subdivision, perhaps the families around you could use help with running errands, cleaning their homes, or even tutoring their students.

 

RELATED ARTICLE: GOING LOCAL: 4 WAYS GREAT BUSINESSES SERVE THEIR COMMUNITIES

 

2. Research the Hustles in Your Area

If you’re joining up with a business versus starting your own, check out the reviews and learn what is needed from you to qualify. Some companies require a large investment to obtain a starter kit for sellers, while others have special programs or sales to let you join in for less.

Do not be afraid to contact current contractors in the company to get feedback. Ask them about their day-to-day schedule, what they like and dislike about the gig, and for any advice they might have to someone just starting out.

If you’re looking to start your own side business, pay attention to what the competition is doing to be successful. Notice ads on Facebook or engagement in online forums. Pay attention to ads being run in your local newspaper. Learn as much as you can and begin to apply similar tactics one by one to see what works best for you.

 

3. Investigate the Market

Another good idea is to talk to the people in your area, such as friends and coworkers, to get feedback on your idea or hustle. Would this product or service interest them? How much would they be willing to pay? If you were selling, would they be interested in hosting a party or buying from you? Would any of their friends and family?

A little market research can go a long way when you’re first starting up. Don’t have any ideas? Ask others what needs to exist in your community. Are people looking for tutors? Dog walkers? House cleaners? What already exists in your area?

By checking out the current service providers—or lack thereof—you can set up a solid business plan and figure out what you will charge. Some sites like Thumbtack can help you gain clients for your services, while other sites like Fiverr will help you start selling remotely with online jobs. Job-hunting sites like Indeed and Monster also receive contract work and remote positions.

 

 

4. Getting Set Up

You will need to be prepared for your side hustle. Starting a successful business, even a simple side hustle, is all about planning. Like the old adage says, those who fail to plan, plan to fail. First impressions are important no matter the business, and nothing says “shoddy” like being unprepared.

You also need to decide how you will accept payments. Cash is always a plus, but some people may want to pay with a check or card. You can sign up for a Square account or a PayPal, but will you send invoices or request payment up front? If you don’t use an electronic service like PayPal, will you carry an invoice or receipt book to log payments? Have you decided what you will charge? Per hour or per service?

In addition to your equipment and procedures, you need to be sure you are prepared. Is your resume or CV up to date? Do you have examples of your work or a portfolio you can show prospective buyers?

 

5. Start Marketing Yourself

Once you’ve chosen your hustle of preference, the time has come to get your name out there. Even if you’re working through a website or existing company, business cards go a long way in leaving a lasting impression. You can add your personal URL to the card so people can easily find you online.

If you don’t have a website, start up a social media page on Facebook or LinkedIn. This gives your potential customers a point of reference and an easy way to contact you if they’re not comfortable calling your personal phone. As your business grows, you can find more ways to market and start asking customers for testimonials or if they would act as references.

Remember, you’re not just advertising your service. You’re advertising yourself. Present yourself well, be friendly, and graciously accept when the answer is “no.” Even if someone declines your service, you may leave an impression that leads them to recommend you to someone else.

 

6. Above All Else, Persevere

This is a big one. Starting a side hustle, no matter the type, can be slow going. It takes time to build up a loyal client base and spread the word. Do not be discouraged! Do your best, and the rest will fall into place in no time flat.

Some hustles, such as photography, can start off smoothly if you offer a few free photo shoots to friends. This will help you to build up a portfolio. (Just make sure your friend knows that mum’s the word about the fact that you worked for free.)

Never hesitate to research opportunities in your area or reach out to small business owners or your fellow hustlers for advice. Everyone’s journey begins differently, so they may have some advice you would not have otherwise considered.

Many will even collaborate with you—a referral for a referral, finding hustles to start a co-owned business, or displaying your cards or flyers.  With luck, your side hustle will grow exponentially to the point you can make it a career!

The post 6 Tips to Starting a Successful and Lucrative Side Hustle appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/25/successful-lucrative-side-hustle/

Aiming for SEO Improvement? 5 Things You Need to Know

Aiming for SEO Improvement? 5 Things You Need to Know

SEO (Search Engine Optimization) refers to search marketing. It means optimizing your content and your site so that visitors to your website can find what they’re looking for. In order to achieve SEO improvement, you need to stay on top of the changes in this ever-evolving field.

It’s an understatement to point out that the SEO space has changed over time. Its continuous changes have been a nightmare to many business owners who are looking to establish themselves online.

Google and other major search engines use algorithms to prioritize content. Developers constantly update and refine these algorithms. In order to master SEO, you’ll need to stay up to date with these algorithms. When it comes to SEO improvement, you need to be no more than a step or two behind the changes.

This is one of the challenges you’ll need to overcome. The search engine robots are smart. Often they can tell when you’re applying SEO methods that aren’t natural. So if you are looking to dive into SEO improvement, here are some of the things you must know before you begin.

 

1. Optimize Your On-Site SEO

On-site optimization will go a long way toward improving your site’s SEO. The first thing you must do for on-site SEO improvement is to ensure that each page of your site and its content are stellar. These elements play a major role in influencing how your site performs.

When you’re developing a page for your website, for instance, make sure to include keywords in the major heading for your content. This helps search engines to understand the context and meaning of your content.

Additionally, use keywords in your titles. It’s even more beneficial to use keywords that contain 2 or 3 words. These are known as long-tail keywords. Always make sure that your content is of the highest quality and suited to your audience.

 

2. Off-Site Optimization Can Help, Too

Off-site optimization includes a variety of tactics, all of which help to give your site some authority. These strategies range from guest blogging to using social channels to showcase your website.

Be sure choose a guest platform that has authority, however. To do this, approach administrators of high authority sites that allow guest posts. Ask them if you can get a slot.

 

RELATED ARTICLE: 15 ESSENTIAL SEO PRACTICES TO INCREASE PROFIT

 

3. Earn Your Links

Some people will tell you that it’s all right to buy links. However, this is a detrimental approach.

Google loathes paid links. If the Google bots flag your site for engaging in link buying, that will mark the end of its journey on Google.

Therefore, make sure to post only high-quality content and reach out to your audience through social media. People will notice your good postings. Some of them will be inspired to mention your site on their blog posts. This will earn you links in a natural way.

 

4. Watch Your Speed

Analyze your website’s speed to ensure it loads well. This is one of the metrics that Google uses to rank sites. Therefore, you could be slipping in the ratings if you don’t optimize your site for speed.

Do this by making sure you don’t use heavy images on your site. Also check for broken links. These will make your site sluggish. A slow site is a bad experience for users, so be sure to watch your speed.

 

 

5. Optimize for Mobile

Mobile matters in the current digital space.

That’s because more and more users access content over their mobile devices. Therefore, make sure your site runs well on both large and small screens. You might be surprised to learn that Google also uses mobile optimization as a factor in their rankings. This is because mobile optimization shows that you care about user experience and quality.

If you’re not sure how to go about optimizing for mobile screens, hire an SEO company in Las Vegas by going to Platinum Web Marketing. These folks will help you to modify your site so that it’s mobile-ready.

 

Enjoy Your Rise to the Top

SEO improvement is not all that difficult. With the tips we’ve given here, you can learn to master the essentials. From there, you can design a site that is useful to your site’s users. Before you know it, you’ll be earning links and enjoying a steady rise in the rankings.

The post Aiming for SEO Improvement? 5 Things You Need to Know appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/18/seo-improvement/

New to Game Development? Avoid These Common Mistakes

New to Game Development? Avoid These Common Mistakes

Are you new to game development? Or are you planning to develop a game? Then this article was written for you.

Here, we discuss some of the worst mistakes that beginning game developers make. Learn about them before you start your game development project.

 

Building Games, Not Technology

Don’t start developing your game by thinking that you will build a game engine. This is probably the worst mistake you can make as a beginning game developer.

This is because the engine that drives the game needs much more work than the game itself does. The game engine is the dark work, the work that no one will see.

If you’re working on the engine instead of the game, you’ll have no visual indicators that show your work in progress. Even with all the benefits of modern tools, libraries, and other materials, building the engine can be difficult. Leave the engine-building aspect of game development to the advanced programmers. As a beginner, focus instead on the game itself.

 

RELATED ARTICLE: 10 PRODUCTIVE SKILLS YOU CAN LEARN ONLINE

 

Choosing Too Big a Scope

Do not start your game development career by trying to make a big game your first time out. This is the problem that a lot of beginning game developers face. You will end up leaving it incomplete because the scope of your game is too massive.

Instead, begin your game development career by designing a smaller game, especially if you’re working alone. Start with a simple game that you can get your head around. Then the next time, take on a bigger game.

For your first game, start with an idea that excites you. Aim to get your game finished in a month or two. Then, with your newly acquired sense of accomplishment, try designing a larger game. This is how you will grow as a game developer.

After you’ve gotten a good sense of game development, if you want to design larger games, join up with a team of professional game developers. Remember that it can take up to a year for a team of 20 professional game developers working on professional gamer PC to build a big game.

 

Not Showing Your Game to Others

Showing people your game is important for multiple reasons. First of all, if you are isolated, you will begin to lose your motivation and even your interest in your project. There is a chance that you will end up abandoning it.

Also, you will have no accountability if you do not show your game progress to another person. Then, too, people will make suggestions that can help you to improve your game. They will keep you on track and hold you accountable. They will help you to stay motivated until you complete your game.

 

 

Trying to Please Everybody

On the other hand, if you pay attention to everyone’s opinions and suggestions, you’ll end up pleasing no one, including yourself. What’s the point of that?

So listen to your game’s fans, but learn to ignore the comments of those who are trying to distract you. Your fans will tell you what they like about your specific game. Their comments can help you enormously to make improvements to your game.

People we admire are the people who finish what they start, and that includes people in the game development field. The world wants more games. Therefore, finish making your game by avoiding the mistakes mentioned here.

The post New to Game Development? Avoid These Common Mistakes appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/18/game-development-mistakes/

4 Tips to Help You Learn to Maximize Business Resources

4 Tips to Help You Learn to Maximize Business Resources

The human mind operates in terms of constraints. We use constraints as a way of making sense of the world around us. They help us to categorize information so that we can process it more efficiently. Unfortunately, this often provides a false view of reality. This can be especially true when you’re faced with having to maximize business resources.

As a business owner, it’s easy to see constraints as limitations. When you only have a small amount of resources, you figure that you only have minimal opportunities for growth. This, however, isn’t necessarily true.

 

4 Ways You Can Maximize Your Business Resources

Running a small business is all about learning to maximize business resources. It’s about doing more with less. By heeding the following advice, you can thrive within your constraints.

 

1. Invest in Machine Learning

When you don’t have a ton of resources, you have to put your money to work for you. That means investing in solutions that continue to add value. It means avoiding ones that rapidly depreciate. Machine learning technology falls into the former category.

As PinnacleART explains, “Machine learning fundamentally encompasses the capability of advanced software to recognize patterns, and then begins to learn from those patterns—meaning you are not manually programming the algorithm, telling the software what to look for in order to trigger an appropriate response.”

Machine learning is the very definition of resource maximization. You invest something on the front end and it grows into something bigger and more valuable over time.

 

RELATED ARTICLE: 4 KEYS TO INNOVATION THAT WILL LEAD YOU TO SUCCESS

 

2.  Aim for Client Retention over Acquisition

“Many enterprises still operate under the mentality that ‘bigger is better’ and expansion is the only way to grow, but it’s simply not true,” entrepreneur Lena Elkins writes. “It’s proven that existing business relationships with reoccurring customers have a significantly greater profit potential than new customers, yet many businesses still continue to chase unknown territory.”

Instead of investing a ton of your time and money into growing your client base, be on the lookout for opportunities to upsell your existing clients. This will save you a ton of resources over the long haul.

 

3. Prioritize Tasks

As a business owner, you have plenty of responsibilities and tasks on your plate. Perhaps it’s true that they all need to get done eventually. However, the key is to get better at prioritizing which tasks need to be completed first (and using which resources).

“Prioritization really helps you manage to do more with less because you are doing the right things,” Ten Six Consulting explains. “Clear priorities let the team focus on what is really important and not get side-tracked on to projects that sound urgent but that really don’t contribute to the company’s strategic goals.”

 

4. Learn When to Say No

When you have limited resources, you can’t afford to say yes to every request. In fact, you have to become good at saying no.

Learning to say no is challenging for people who want to be helpful. However, it’s a skill you need to master if you’re going to stand any chance of maximizing the limited resources you have at your disposal.

 

 

Do More with Less

It’s a fallacy that the business with the greatest amount of resources always outperforms the business with fewer resources. Study the history of your industry and you’ll see multiple instances where a small business with minimal resources entered the industry and overtook a larger competitor through creativity, innovation, and resource maximization.

While it helps to have resources on hand, it’s not necessary. What’s important is that you leverage the resources you do have. In other words, you need to learn to focus on doing more with less. In most cases, learning to maximize business resources sparks greater innovation. It will help you find new opportunities that you otherwise wouldn’t have stumbled upon.

The post 4 Tips to Help You Learn to Maximize Business Resources appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/12/maximize-business-resources/

Some Inventive Ideas for Funding Your Startup Idea

Some Inventive Ideas for Funding Your Startup Idea

Lots of people have a startup idea. Some of those people actually get serious about owning their own business. Are you one of those people?

Many people hold back on pursuing their startup idea for one reason or another. Often, that reason is funding. You might think you have to have some property to put up as collateral for a loan. You might even have heard that you need to have good credit to get funding for a startup idea. However, in today’s world, there are numerous ways to find the money to start a business.

So if you are serious about starting a business, don’t let a lack of funding stop you. While you will need to be creative, patient, and dedicated to your idea, know that you can do this.

Start with thorough research. You might just find some investors who believe in your startup idea, people who have just been waiting to jump onto a good business idea. However, if you’re not that fortunate, there are other funding alternatives. Read on for more ideas.

 

RELATED ARTICLE: AVOID THESE COMMON MISTAKES WHEN YOU’RE SEEKING FUNDING FOR YOUR BUSINESS

 

Rollovers as Business Startups

Rollovers as Business Startups, otherwise known as ROBS, are a hidden gem. As a matter of fact, most people are completely unaware of this funding strategy for small businesses.

As the name implies, ROBS refers to the use of all or part of your retirement savings to fund your startup idea.

This strategy is not a loan against your retirement account. It’s a rollover. So you won’t have loan payments while you get your business up and running. However, this method does put your retirement savings at risk. For this reason, you should review it carefully before deciding to go this route. Also check with a tax professional beforehand, and learn about about any tax consequences you might face.

 

Find Like-Minded Investors

If you’re still casting about for a startup idea, a few Internet searches could lead you toward what you’re looking for.

For instance, you might be interested in selling a product such as the ones offered by Friske Drag AS. This is a line of products that can help people quit smoking.

If your startup idea is something like this one, it will be easy to find others who will be interested in getting involved. Therefore, always keep in mind that like-minded investors are out there for you. As a matter of fact, the next person you have a casual conversation with could be the very person you’ve been looking for. What’s more, they could be delighted that they found you, too.

While you’ll be required to give up a portion of your business in exchange for an investor’s money, you’ll be able to get the funding you need.

 

Apply for Grants

Depending on your current situation, there is a possibility that the government could help to fund your business. This is why you should look into the possibility of government grants.

What’s more, if you are a woman or member of an ethnic minority or both, your business could qualify as a minority-owned or woman-owned business. In that case, there could be even more grant categories in which you could apply.

If you are awarded a government grant, the government will provide you with some start-up money. Grants are not loans, so you won’t have to pay them back. However, the funding requirements are narrow, and you have to apply according to specific guidelines.

 

Seek out Advisors, Not Just Investors

Have you found someone whose vision is similar to yours? Is this person as excited about your vision as you are? If so, you have truly found a gold mine.

If this is the case, seek to work with this individual as someone who can bring value to what you are trying to create. In other words, strategize with people whose ideas and visions are similar to your own. They can help you take your company forward faster, much faster than if you were working strictly on your own.

 

 

Learn to Tell Your Business’s Story

Your business’s story will take you far. As a matter of fact, the story behind your startup idea is much more fascinating than anything about the numbers.

For example, maybe your 4-year-old daughter told you that you were good at something. Her comment led you to create your startup. Or perhaps your startup idea began when your neighbors told you that you that you baked the best homemade brownies they had ever tasted.

How your startup began makes up the essence of your business’s story. Learn to tell your story well, and your startup idea will be able to jump out ahead of the competition. Whatever your situation, the reason you are venturing out on your own is far more compelling to potential investors than just about anything else about your startup idea.

This is because your story can inspire others. When your vision for your startup is beautiful and meaningful—and you tell its story in a compelling way—it has the potential to attract new investors to your business.

 

The post Some Inventive Ideas for Funding Your Startup Idea appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/12/ideas-funding-startup-idea/

Buying an Online Business? Some Hazards for You to Consider

Buying an Online Business? Some Hazards for You to Consider

Setting up your own online business is not as easy as it seems. This is especially true when we are talking about e-commerce. That’s because there are plenty of features that need to work properly. For example, you need a top-notch web design. Plus, as the business owner, you have to discover the products and the suppliers you need.

However, there is an easier way for an entrepreneur to go. That is, you can simply purchase an online business. It will be far easier to purchase a business that has already generated traffic and revenue.

However, this approach represents an investment. And therefore, it involves certain risks that you need to be aware of.

 

False Financials

Checking the site’s financial records is an essential first step when you’re considering buying an online business. However, there might be situations when the seller won’t offer you truthful information. Therefore, you could be deceived.

Even if they don’t do it on purpose, it is difficult for a seller to offer you completely accurate financial records. That’s because they usually use various site metrics and industry benchmarks to generate financial disclosures. While most of the time these statistics will give you an accurate picture, you can never be sure.

One of the safest methods is to use an online marketplace when you make your purchase. Exchange by Shopify is one of them. This service provides you the accurate traffic and revenue figures for businesses you’re considering. You won’t have to worry whether the information is correct or not.

 

Maintenance

An online business needs the active participation of the owner. Therefore, you need to make sure that you will be able to devote enough time to the site to keep it running well.

Talk with the current owner and ask for all the details. That way, you will know how much maintenance the site requires, as well as any other pertinent details about its day-to-day operations.

 

RELATED ARTICLE: DON’T MAKE THIS ROOKIE MISTAKE IN YOUR ONLINE BUSINESS

 

Tech Skills

In most cases, you do not need to have a great deal of technical knowledge in order to run an online business. However, there will likely be a few things that will be new to you. Make sure that you have the necessary know-how to adequately check out the site you plan to buy.

If necessary, hire a programmer or an online due diligence firm to look for plagiarized content, unethical SEO tactics, or modified traffic. All of these issues are red flags. You’ll want to know about them early in your negotiations with the current site owner.

 

Unstable Traffic

Traffic is very important for any online business. Therefore, make sure the website you plan to buy already has legitimate site traffic. There are plenty of ways to advertise a company. And, of course, once you purchase it, marketing the site will be up to you. However, you must make sure that the site’s current traffic is sustainable.

For instance, any traffic sources that might negatively affect the site’s search rankings could also have negative effects in the future. If this is the case, you might notice a drop in site traffic soon after your purchase.

This could happen because of a number of issues. For instance, the cause could be anything from poorly implemented technical optimizations to a backlink profile that contains spun articles and duplicate content. Therefore, make sure that you check for these possibilities first, before you agree to purchase an online business.

 

 

Avoid Buyer’s Remorse with Solid Due Diligence

Purchasing an up-and-running online business is the way to go for many an entrepreneur. However, be sure to delve into the issues mentioned here before you sign on the dotted line.

The post Buying an Online Business? Some Hazards for You to Consider appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/12/risks-buy-online-business/

4 Fab Apps for Simplifying Teamwork in Your Business

4 Fab Apps for Simplifying Teamwork in Your Business

When it comes to running your team smoothly, it’s important to simplify teamwork as much as possible.

This is true whether your business is all online and your team’s remotely located across the world, or you’re a brick-and-mortar store with everyone based in one office.

From people working together on projects to you managing your team as a whole, having everyone working for you feeling comfortable, happy, and motivated is key to the success of your business. It’s just as important as mastering your Instagram marketing. And it’s every bit as important as making your presence known on social media platforms and making your brand as appealing as possible.

Luckily, there are some great apps out there that make the task of simplifying teamwork way less of a chore. So if you want to learn about how you can make your teamwork more efficient, here are some great apps:

 

RELATED ARTICLE: 5 PRODUCTIVITY ISSUES YOUR SMALL BUSINESS MIGHT BE IGNORING

 

1. PingPong

Do you have a highly collaborative team? Are you, for example, one of those business leaders who likes to bounce ideas off of people? Do you hold brainstorming sessions? Are you known for having different teams work in friendly competition then compare notes at the end of the day?

Especially for creative companies, or companies offering clients complex solutions, PingPong is one of the best apps out there. What’s more, you can use it anywhere, whether in the office or with a remote team.

According to Entrepreneur.com, it works like this: “With PingPong, you can create questions, share them with team members and ask them to respond, all during the course of your information sharing session. You can check responses in real time. This will give you a clear idea of whether you are on the right track or there are still some gray areas that need to be addressed…. You can even share the necessary research/reference material with your team.”

As many as 75 percent of employers consider teamwork and collaboration to be “very important.” PingPong is one of the easiest apps that guarantees you’re communicating with your entire team and learning about their opinions.

 

2. Slack

Slack is one of the biggest players out there. Therefore, it’s no surprise that companies are using it more and more these days. In fact, even Slack uses Slack. If that isn’t proof of how great this chat platform is, then we don’t know what is. Every day, 50,000 people use this app. And because it’s so easy to use, it’s something people use personally, too.

But this app is perfectly made for business. That’s because it’s designed to work with so many elements of work that you’re already using. What’s more, according to Inc.com, even big companies like eBay and Yelp use it.

“No matter the company size, Slack is geared for team-based communication and integrates with dozens of apps including MailChimp, Google Drive, Dropbox, and Twitter. It also indexes the contents of every chat and shared file, which makes searching a breeze,” continues Inc.

There are paid versions, but most of the basics are free. This means you can use the version that works best for you and your company.

 

 

3. Dropbox

If your company is one that handles many files—especially large ones, such as PDFs and videos—then you’ll get a lot out of Dropbox. It’s one of the easiest ways to pass files around. Additionally, you can share files while making comments and trackable changes. This is much better than just emailing files back and forth (and waiting for them to upload and download, too). And one of the best features is that you can access files you’ve marked even when you’re offline. This is perfect if you’re always on the go.

According to Mashable, there are several options available: “The free app comes with 2.5 GB of free storage space, with options to upgrade your account at a flat rate of $100 per year for 100 GB of space. Dropbox also offers 250 MB of storage for free when you complete five out of seven Getting Started tasks.” As of 2016, there were 28.8 million small businesses in the US. And there’s no mistaking the fact that many of them are using apps like this one to share documents and files.

 

4. Mural.ly

Finally, there are some apps that simplify teamwork for the most complex of teams: artistic teams. And yes, we know that everyone on your business team is brilliant. However, wouldn’t it be nice if there were a way for them to collaborate without throwing their latest idea in the trash, or scrawling over it in red ink so that it isn’t salvageable?

That’s where Mural.ly comes in. According to Quickbooks, “If you’re a design firm or involved in a creative venture, then Mural.ly’s visual platform for assembling and sorting ideas in the form of digital ‘sticky notes’ may be ideal for your organization. Mural.ly’s large HTML5 drawing board is well suited for design-oriented and creative tasks.”

The business of creativity is now worth $44 billion. Therefore, it’s no surprise that apps are adjusting to serve that industry.

 

Opt for Smoother Teamwork

By using these apps, you’ll hugely simplify the process of your team working together in your business. What challenges do you think you can face more easily now with these apps?

The post 4 Fab Apps for Simplifying Teamwork in Your Business appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/12/simplifying-teamwork-business/

4 Solutions for Maintaining Compliance in the Food Service Industry

4 Solutions for Maintaining Compliance in the Food Service Industry

If you’re running a business in the food industry, you’re not alone. Food service is one of the most common small businesses in the United States. It’s also one of the most challenging.

When you’re in the food service industry, you’re going to encounter new rules and regulations on a regular basis. Regulatory agencies are always updating their standards. And new laws are continually being passed to ensure the highest standards for food safety.

Regulations that seem difficult to meet aren’t impossible. You just have to know how to make it work. Here are 4 solutions to compliance dilemmas commonly faced in the food industry:

 

1. Washing Dishes Without a Sponge

In most cities, food safety regulations prohibit the use of sponges because they’re a breeding ground for bacteria.

According to NutritionAction.com, NSF International conducted a survey across U.S. homes to find out how sponges hold bacteria. The survey found 77% of sponges and dish cloths sampled contained coliform bacteria. What’s more, 86% had yeast and mold, and 18% had staph.

In the same article linked above, USDA microbiologist Manan Sharma explains how sponges breed bacteria. He says that sponges “come into contact with food residues that can build up in them and that provide nutrients for bacteria and other microorganisms to grow. What’s more, sponges are often wet and left in damp areas in or near the sink, which are ideal conditions for germs to multiply.”

Sharma also explains that microwaving a sponge will get rid of some bacteria. His team tested this theory by soaking sponges for two days in ground beef and soy broth to grow bacteria. They found microwaving the sponges at full power for one minute effectively killed much of that bacteria.

Although microwaving a sponge eliminates most bacteria, the FDA still prohibits their use in food service.

Hopefully you’re not using sponges in your food service establishment. However, if you are, you should get rid of them immediately. If you’re wondering how to wash dishes without a sponge, there are other, better ways.

For instance, you can get specially designed tools for scraping food off prior to washing. Then you can use a sponge-equivalent made of silicon to wash the dishes. You can also wash and sanitize these items.

Before you buy anything specific, check with your local health laws to find out what you can and can’t use.

 

RELATED ARTICLE: QUESTIONS TO ASK AS YOU START A FOOD TRUCK BUSINESS

 

2. Keeping Surfaces Clean Without Using Household Chemicals

It seems harmless to use household cleaners like Windex and Comet. However, there are regulations that prohibit their use in a food service setting. Sometimes the chemicals are allowed but since their use is regulated, they need to come from a regulated source.

When choosing a food-safe cleaning product, there is only one official regulation. That is the NSF Certification. As explained by Bradley Systems, experts in manufacturing and delivering food-safe cleaning products, the NSF has been the trusted name in food safety for 70 years. “Ensuring accountability from farm to fork, the NSF is known as ‘The Most Trusted Name in Food Safety.’ Today, the NSF mark is the only certification that identifies food safe chemicals.”

The NSF mark ensures that all product labeling and claims have been objectively reviewed by a trusted third party.

 

 

3. Keeping Counters Clean at All Times

It’s a health code violation to leave wet rags out on the counter. But when your employees need to use them constantly, what can you do? In most cases, regulations require you to keep wet rags in a bucket of sanitizer unless they’re in use. This is one of the most ignored regulations because it’s extremely inconvenient. Nobody has time to run to the main bucket for a rag each time they need one.

To stay compliant while making your employees’ jobs easier, place smaller buckets of sanitizer in approved places throughout your establishment. It’s still inconvenient to have to store the rags in the bucket. But at least they’ll be more available.

 

4. Cleaning Floor Mats Without Washing Soap Down an Outside Drain

When you’ve got large rubber mats to clean, it’s tempting to toss them outside and give them a good scrub down with some dish soap and a deck brush. Unfortunately, in most areas it’s illegal to wash any chemical down outside drains, including soap.

Instead of washing your mats outside, have them professionally cleaned. Or, if you can swing it, buy an industrial dishwasher dedicated to washing your mats.

 

You Can Stay on Top of Fast-Changing Regulations

With so many fast changes, it’s hard to remain perfectly compliant. However, the consequences of non-compliance can be severe. It’s important to do everything you can to meet those tough regulations.

The post 4 Solutions for Maintaining Compliance in the Food Service Industry appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/12/maintaining-compliance-food-service/

Cleaning Procedures for Compliance with Health and Safety Rules

Cleaning Procedures for Compliance with Health and Safety Rules

No matter what type of business you run, the importance of a clean and clutter-free bathroom cannot be underestimated. This critical for health and safety reasons. Additionally, it is important for employee satisfaction. After all, no employee is going to want to use a dirty and messy bathroom every day.

So what methods and products should you use to keep your commercial bathroom clean?

 

RELATED ARTICLE: MOVING INTO A NEW HOME OR OFFICE? CONSIDER THESE 5 HOME CLEANING TIPS

 

Use Premium Quality Cleaning Products

It is important to purchase premium quality cleaning products from a specialist provider. Therefore, don’t merely opt for generic cleaning products that are sold in supermarkets. That’s because these products are rarely strong enough to clean a commercial bathroom environment effectively. Instead, you need industrial-strength deodorizers and disinfectants. These products will successfully kill bacteria to lower the risk of contamination. Buying quality toilet cleaning supplies is the first step in making sure everything is of a high health and safety standard.

 

Establish Regular Cleaning Procedures

Next, you need to establish cleaning procedures to carry out on a daily, weekly, and monthly basis.

Daily tasks should include the following:

• Check paper towel, toilet paper and soap dispensers to ensure they are properly stocked.
• Check recycling bins and garbage cans. If they are almost full, replace the trash can liner with a new one.
• Visually check the bathroom’s overall appearance. Pick up any debris around the toilet/urinal areas or the sink. Also, pick up any debris on the floor.

 

Tasks you should carry out on a weekly basis include:

• Wet mopping, sweeping, and dust mopping the floors. Don’t use these items for other parts of the business. You don’t want to experience cross-contamination.
• Use an acidic/germicidal surface cleaner to wipe down handles, faucets, and sinks.
• Remove marks and fingerprints on the mirrors by using a glass cleaner. A good one to use is Flash Multi-Surface and Glass Cleaner.
• Wipe down and disinfect all surfaces. This includes dispensers, partitions, countertops, light switches, and door handles.
• Scrub and clean all urinal and toilet surfaces with a toilet bowl cleaner.
• Use a disinfectant to wipe down all exterior urinal and toilet surfaces.

 

Tasks you should complete every month include:

• Check the drains to ensure they are draining properly. If not, remove all clogs using a drain cleaner. Experts recommend the One Shot Instant Drain Cleaner.
• If required, replace urinal blocks.
• Replace all air fresheners and aerosol deodorizers.
• Dust all of the areas that are out of the way. This includes air vents, hand dryers, dispensers, partitions, shelves, and the tops of doors.

 

 

Clean up After Yourself

Once you have carried out the tasks listed here, it is vital that you clean up after yourself properly. Failure to do so could be a massive health and safety risk.

So make sure you remove all rubbish bags and place them in the correct waste disposal. Also, rinse out and clean the rags, mops, and mop buckets.

It is vital to ensure the “Bathroom Closed” sign is not removed until all work is completely finished. This includes when the floors are totally dry. The last thing you want is for someone to slip and hurt him or herself!

 

Conclusion

Hopefully, you now feel more prepared for keeping your business’s bathroom clean and tidy. If you follow the tips here, your bathroom will be hygienic and free from clutter. This is imperative for upholding your health and safety legal requirements. What’s more, you’ll be providing a satisfactory place of work for your staff.

The post Cleaning Procedures for Compliance with Health and Safety Rules appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/09/cleaning-procedures-health-and-safety/

Mixing Business and Pleasure: 6 Ways to Get More out of Business Travel

Mixing Business and Pleasure: 6 Ways to Get More out of Business Travel

Not a fan of business travel?

Join the club. Like so many other unavoidable obligations, business travel is just one more burden to be borne for the greater good—in this case, your company’s bottom line.

Perhaps it doesn’t have to be this way. Just as savvy business travelers use all sorts of tricks to reduce the cost of their business trips, true road warriors know just what to do to improve the overall business travel experience. In other words, they know how to get more out of their trips without undue sacrifice or (much) in the way of added expense.

 

RELATED ARTICLE: HOW BUSINESS TRAVELERS CAN BRING THEIR A-GAME TO MEETINGS

 

1. Add an Extra Day

If you’re leaving Monday and getting back Friday, the last day of your week is likely shot anyway. Make it official by adding an extra day to your trip and seeing a few sights before you skip town. Or go big and stay through the weekend. Although you’ll want to clear it first with anyone who might be expecting you back home.

 

2. Use an Airline Credit Card

Put your flights on an airline credit card that accrues points or miles for every dollar you spend. Eventually, you’ll have enough to redeem for a free flight. Use them either for your next business travel destination, or go somewhere you’ve always wanted to see. If you can’t wait that long, you can always use your miles for fare upgrades. Review the latest list of the best airline credit cards for cards with exciting fringe benefits. For example, some have such things as complimentary airport lounge access and coveted loyalty status.

 

3. Catch up with Old Friends off the Clock

Got some time to spare in the evenings? Look up old friends or colleagues in your destination. There’s nothing like a low-key drink or two to rekindle a flagging friendship. And who knows? If you’re in similar or complementary lines of work, you might just add a little bonus business to your boring old trip.

 

4. Choose Networking Opportunities Wisely

You can’t choose every business trip, so choose those optional travel opportunities wisely. Look for high-value networking opportunities where you’re likely to meet lots of potential clients or vendors, such as trade shows and professional association conventions. And make sure they’re in destinations you actually want to visit. San Diego in February is a lot nicer than Chicago, after all.

 

5. Mix It up with the Locals

Even if you don’t have a local friend to show you around, make a point to do like the natives do and get out of your business-district bubble. If you’re in a major city, look for restaurants with great reviews and under-the-radar cultural hubs out in the neighborhoods. In rural settings, rent a car and drive out of town or off the resort grounds to two or three of the area’s top outdoor destinations.

 

 

6. Stay in Short-Term Rentals

When in doubt, get an Airbnb (or equivalent). Short-term rentals can be roomier and less expensive than hotels. This can be an important consideration when you’re footing the bill. Plus, they’re usually in more interesting settings, where locals actually live, work, and play.

 

Business Travel That’s Actually…Fun?

Don’t laugh. It’s not as wild an idea as you might think.

The truth is, there’s no reason business travel shouldn’t be fun. If traveling for work is unavoidable, why not do everything in your power to ensure that you actually look forward to it, rather than dread it? You might never learn to love unexpected flight delays, traffic in unfamiliar cities, or long security lines, but at least you’ll enjoy the ride.

The post Mixing Business and Pleasure: 6 Ways to Get More out of Business Travel appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/06/mixing-pleasure-business-travel/

How to Choose a Trustworthy Forex Broker: 9 Factors to Consider

How to Choose a Trustworthy Forex Broker: 9 Factors to Consider

Before venturing into the foreign exchange market, you need to open a trading account with a currency trading broker, commonly known as a Forex broker.

Through a Forex broker platform, you can access the live Forex market. From there you can control and manage your trades. However, with the recent surge in the number of retail Forex brokers, it is important to choose a trustworthy broker who best fits your trading needs.

A trustworthy Forex broker makes it easy for traders to make profits and succeed. Here are 9 critical factors every trader should consider when choosing a Forex broker.

 

RELATED ARTICLE: HOW TO TELL WHEN YOU’RE READY TO BECOME A FULL-TIME FOREX TRADER

 

1. Does the Broker Meet Regulatory Standards?

Proper regulation gives investors assurance that a Forex broker maintains fair trading practices. A well regulated broker will be sure to keep funds secure. What’s more, such a broker will have adequate capital. This assures that the broker will be able to trade in all events, including losses. So verify that your broker meets all regulatory standards before depositing your money with them. You can check whether a broker meets regulatory standards by looking at your regional Forex trading regulator’s website.

 

2. Will Your Information Be Secure?

Setting up a trading account with a Forex broker means you are going to share a lot of confidential data, both personal and financial. Typically, any broker will require copies of your identity card, utility bill, passport, bank account information and also your credit card details. Brokers with poor internet security measures put your personal and financial data at risk of being stolen or compromised by attackers. This can lead to identity theft. A trustworthy broker will employ a reputable and reliable internet security firm to serve them.

 

3. What Are the Broker’s Trade Execution Practices?

Trade execution is one of the most important factors to consider. That’s because you’ll want to have your trades executed in a timely fashion and at the best rates. A broker’s business model can greatly affect the rate at which traders make money. Such factors as a broker’s ask/bid spreads or the timing of when clients exit or enter a trade can make an enormous difference. Additionally, a trustworthy broker will ensure their platform has features to protect traders against excessive losses as well as negative balances.

 

4. Look into Spreads, Commissions and Transaction Fees

Trading costs have a significant effect on the net profit a trader makes. Although most people do not like expensive brokers, many of the brokers who charge higher fees also offer a higher level of client service. This can include market analysis, research, training materials and better trading tools. When choosing a broker, consider the spreads they offer, the commissions they charge, and any miscellaneous fees. Worth noting is that some brokers will charge fees for deposits, withdrawals, credit card transfers, and inactivity, while others will not.

 

5. Compare Trading Platforms

Every trader loves an online trading platform that is user-friendly and intuitive. Most traders also look for a platform that has rich, powerful features that meet their trading needs. A trading platform might be web-based or mobile-based. Or it could be a MetaTrader. In any case, check the trading tools and services available to ensure a high level of performance. Additionally, look for Forex brokers who offer demo accounts. With a demo account you can perfect your trading strategies before investing in a real account.

 

6. Does the Broker’s Trading Style Suit Your Needs?

Most Forex traders settle on a particular trading style which they consider their best fit. These styles can vary in terms of time frame and account management. While some traders prefer scalping, others like automated trading. Still others are self-directed discretionary traders. A trader should, therefore, consider the trading options that are available before choosing a broker. Additionally, a trustworthy broker will offer social trading, where Forex traders can share their knowledge.

 

 

7. What Are Your Account Options?

When setting up a trading account, you will come to realize that Forex brokers differ greatly. For example, they will vary in the amount of the minimum deposit they require. They will also offer different trading terms and other account features. Most brokers bury this information within their terms of service. When they do, unwary traders can easily overlook these options. Some of the things to consider include minimum deposits, base currencies, account types, leverage, and payment options.

 

8. Expect a High Level of Customer Service

Great customer service is important, especially to novice traders. A broker who has a helpful support staff makes it easy for traders during the account-opening process, as well as throughout the entire account management process. When choosing a Forex broker, ensure their support team is responsive and replies to messages in a timely fashion.

 

9. What Trading Tools and Educational Materials Does the Broker Offer?

Both new and experienced traders should choose brokers who provide training materials such as e-books, articles, videos, webinars, seminars, and e-courses free of charge. These resources help traders learn the basic concepts of the Forex market. Such tools as these will help you to gain insights that will help you to craft effective trading strategies.

 

Conclusion

Conduct thorough research before making a decision about which Forex broker you will deposit your money with. Choose a broker you can trust so that you can have the best possible trading experience.

The post How to Choose a Trustworthy Forex Broker: 9 Factors to Consider appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/06/choose-trustworthy-forex-broker/

How Can You Develop Good Leadership as a Business Owner?

How Can You Develop Good Leadership as a Business Owner?

Leadership is the one thing that can really make or break your success as a business owner. If you try to build a company without good leadership, you’ll end up falling short. So how do you become proactive in this area?

 

Good Leadership Is Developed

There’s a common discussion in business schools and at seminars around the world. It’s the dilemma over whether good leadership is something you’re born with or something that’s learned. This may seem like a tricky issue on the surface. However, most agree that leadership is developed over time. Studies indicate that only 30 percent of leadership is genetic.

You may be born with certain traits that make you a natural leader. However, anyone can hone their leadership capabilities with the right attitude and preparation. Here are some tips to help you improve your leadership skills and become the person your company needs you to be.

 

RELATED ARTICLE: IMPROVE YOUR BUSINESS LEADERSHIP SKILLS FOR GREATER SUCCESS

 

Get Some Formal Training

There’s certainly a balance between developing natural leadership skills and learning specific techniques. All the same, don’t underestimate the value of formalized education. If you find that you’re in a bit of a standstill, perhaps you could benefit from developing leadership through graduate studies at a business school. Most MBA programs have dedicated courses on leadership and other related topics.

If you do go this route, make sure you’re fully prepared for this challenge. Most likely you will need help with the admissions process. And you’ll also have to figure out what it looks like to balance work and school.

 

Speak with Confidence and Purpose

Leadership is about making others feel inspired and directed. It’s impossible to push people in the right direction if you don’t know how to speak.

“The best way to make a point is to be crystal clear and confident when delivering a message,” business owner Stephanie Chung says. “Leaders should speak with intention and say exactly what they mean or need. It’s not effective to beat around the bush or give a puzzling response.”

 

 

Adopt Different Communication Styles

Everyone you encounter is unique. Some people respond to a brash style, while others prefer to have their hand held in the beginning stages of a new endeavor. The best leaders are those who are able to recognize whom they’re interacting with. Accordingly, they change their communication style so that the audience receives it in the most effective manner possible.

Don’t confuse this with being hypocritical or “wishy-washy.” The substance of what you’re communicating mustn’t alter. All that changes is the way you deliver it. Good leaders know how to say the same thing in multiple ways to get the desired result, no matter who is on the receiving end.

 

Walk Your Talk

When it comes to leadership, verbal communication is only part of the battle. Ultimately, your leadership will be determined by how well you walk the talk. If you’re saying one thing and doing another, you aren’t going to be very effective. Your employees and business partners are watching more than listening. They want to know that you’ll actually do the right thing.

 

Good Leadership: The Key to Becoming a Better Business Owner

Everyone has their own leadership style. Using the popular TV show Shark Tank as an example, nobody is going to confuse the leadership style of Mark Cuban with that of Robert Herjavec. They are each highly successful business owners. However, they each lead in entirely different ways.

You don’t need to emulate someone else’s leadership style. You do, however, need to work on developing your own leadership skills. A commitment to honing your leadership skills will lead to healthy, long-term business growth.

The post How Can You Develop Good Leadership as a Business Owner? appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/06/develop-good-leadership/

4 Ways Small Businesses Can Improve Their Cyber Security Strategies

4 Ways Small Businesses Can Improve Their Cyber Security Strategies

In order to keep your operations safe and competitive in the current business arena, you have to make cyber security a priority. It’s fine just to have the basics squared away. However, the smart business owner will do more than the bare minimum.

 

Four Tips to Improve Your Cyber Security Strategy

It doesn’t take a genius to look at the trends in cyber crime and security to recognize that the situation is terribly serious. As the data show, cyber crime damage costs are on the rise. As a matter of fact, they’re expected to hit $6 trillion annually by 2021.

Between last year and the end of 2021, spending on cyber security is expected to exceed $1 trillion. Human attack surface, global ransomware, and malware are all on the rise. Warren Buffet has gone so far as to declare that cyber attacks are the single greatest problem facing humankind. He says they’re even more dire than nuclear weapons.

So we have a huge problem, and small businesses are certainly not immune. So the question is: Are you being sufficiently proactive about your cyber security strategy? Here are four things you should do to improve your approach.

 

RELATED ARTICLE: TOP SECURITY TIPS FOR YOUR WEBSITE: HOW TO PROTECT YOUR ONLINE BUSINESS

 

1. Optimize Your Network

One of the challenges for small businesses is that they have to address so many different responsibilities. These can include regional and global requirements as well as business-critical applications. Additionally, they need to account for mobile users, network-specific security threats, regulations, compliance, and existing technological infrastructures.

When all these factors are in play, trying to locate a single cyber security solution that would meet all your needs can seem impossible. But software-defined wide area network (SD-WAN) could do the trick for you.

“SD-WAN began as a new way to manage and optimize enterprise networks,” explains Dave Greenfield. Greenfield is a secure networking evangelist at Cato Networks, a provider of secure, cloud-based SD-WAN services. “Created to overcome the high bandwidth costs and the rigidity of MPLS services, SD-WAN incorporates Internet transports (such as cable, DSL, fiber and 4G) into the WAN and forms a virtual overlay across all transports. Today, SD-WAN as a service (SDWaaS) extends SD-WAN concept to include mobile access and a full complement of network security capabilities (such as NGFW, IPS, and secure web gateway (SWG). With one networking solution, companies can address all of their security and networking requirements.”

You’re free to optimize your network any way you please, of course. But SD-WAN is highly advantageous. Not only does it enhance cyber security, but it also helps smaller businesses stay on budget by streamlining your operations.

 

2. Invest in Better Employee Training

Another common difficulty for small businesses is the lack of employee-side competence. It’s not that workers don’t possess the mental capacity to understand how cyber security works. However, most businesses don’t educate employees in this area.

In addition to investing in intuitive networking solutions, you have to do your best to train your team on basic security principles. These include password integrity, Internet usage guidelines, BYOD restrictions, and identification of cyber threats.

 

 

3. Use Multi-Factor Authentication

Roughly 62 percent of small- to mid-sized organizations aren’t currently using multi-factor authentication. If you’re not using it, now is probably a good time to give it some serious thought.

“Multi-factor authentication requires more than two layers of verification to confirm user identity or account authorization,” Risk Control Strategies explains. “Often, this comes down to identifying or providing information that theoretically only the user would know.”

 

4. Have a Plan for Backing Up Data

Finally, it’s imperative to have a plan in place for backing up data. You never want to run the risk of losing everything if your network ever gets breached or compromised. Backing up information won’t do anything to prevent an attack, of course. But it will improve your chances of experiencing a faster recovery.

 

Putting It All Together

It’s 2018, which means you can’t afford for your cyber security strategy to grow stagnant. Cyber threats are evolving constantly. Therefore, your approach to online security should evolve, as well. By implementing up-to-date techniques and adopting the appropriate solutions, you can ensure your business will stay in operation comfortably into the distant future.

The post 4 Ways Small Businesses Can Improve Their Cyber Security Strategies appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/06/improve-cyber-security-strategies/

Franchising: Something to Consider When Deciding to Start a Business

Franchising: Something to Consider When Deciding to Start a Business

Starting your own business is at once thrilling and exciting. It’s also frightening and intimidating.

It’s thrilling to think of breaking away from the 9-to-5 and the constraints of a fixed income. It’s exciting to finally start following some of your true passions. And it’s inspiring to think about waking up every day to the prospect of doing work that you enjoy.

Conversely, it’s only natural to be frightened at the prospect of giving up a predictable paycheck and an established routine. And it’s intimidating embarking on an adventure into uncharted territory. For all of these reasons, franchising is one of the options you should consider when you’re making your decision.

 

Coming to a Decision

You may have some clear ideas on what you want to focus on when you have your own business. Likely, you already have some strategies in mind for hiring people in those areas that you have little or no talent in. All the same, the bigger question you will have to ask is whether you should start a business from scratch or buy an existing business.

For example, perhaps you have a wide range of practical skills and feel that you could run a cleaning business. In that case, should you simply build the business from the ground level—or should you buy a cleaning business that is available for sale?

One advantage of buying an existing business is that you might be able to get all the equipment you need and rent an available office space. In many instances, too, you will be able to hire skilled staffers and provide services to an established clientele.

Still, an even better approach might be to think of franchising. Now, instead of simply taking over an existing business as a new owner, you will be given a comprehensive business system to manage. What’s more, your new business will have an established track record.

Moreover, staying with our analogy of starting a cleaning business, you might stumble upon a specialty business. Take for example a business like Spaulding Decon, which focuses on crime scene cleanup. As a franchisee of Spaulding Decon, you will get access to a unique opportunity. Further, you will also be able to reap benefits that are not available at more ordinary types of retail or food franchises.

 

 

Benefits of Investing in a Franchise 

If you have little to no business experience, then your chances of success by starting a business from scratch or taking over an existing business that is up for sale are somewhat slim. Even if you are able to raise the funding necessary to make the investment, you still need to have a working knowledge of how to manage business finances, accounting, marketing, and sales.

Under these circumstances, you will find that franchising offers you a wide range of benefits. To name a few, you will be representing a well established brand. You will share in the benefits of working with a large group of business owners. And finally, you’ll get detailed training on all aspects of business operations, marketing, and sales.  In short, a franchise will help you get up to speed on any missing skill gaps you might have when it comes to running a business.

 

RELATED ARTICLE: HOW TO VET A FRANCHISE

 

7 Steps to Researching a Franchise 

Naturally, you will want to do your due diligence before you buy a franchise. Here are 7 steps to take to ensure that you do a thorough job of evaluating a franchise that interests you.

1. Find a franchise that fits in with your working experiences and plays to your strengths.
2. Research the best financing measures to fund your venture.
3. Evaluate the strengths and weakness of the industry that interests you.
4. Assess how recession-proof the business model will be should the economy change.
5. Identify at least 5 franchises within the niche. The heavier the competition, the more it suggests a high consumer demand.
6. Ask the franchisors for preliminary information and read (not skim) the Franchisor Disclosure Document (FDD).  Ask a business lawyer to explain the aspects you don’t understand.
7. Interview both the franchisor and a few franchisees to make sure that you have all your questions answered and concerns addressed.

 

Making a Final Decision 

If you have more than enough technical skills and plenty of business experience, then starting a business from scratch could be the right decision for you. Buying an existing business might also be a viable option.

Conversely, if you have little or no business experience, franchising will minimize your risk of failure. You’ll be less likely to incur a loss on your investment by joining a franchise.

You’ll know if you have made the right decision on the franchise you join. For one thing, it will match your financial resources. It will also help you to capitalize on the technical skills and your experiences in your working life. But best of all, it will offer you the lifestyle you imagined.

The post Franchising: Something to Consider When Deciding to Start a Business appeared first on Business Opportunities.

source http://www.business-opportunities.biz/2018/03/05/franchising-start-business/