Cash Doesn’t Grow On Trees: Expanding Your Home Business In A Budget Friendly Way

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Large companies looking to expand have a luxury of being able to throw money at certain problems when growing. A smaller home-based business usually cannot do this due to cash flow and the need for a cost-efficient expansion. The good news is that expanding can be done with very little spending if done in a clever manner. The advantage a smaller company has is there are not multiple approvals that need to be received before starting out on a growth project. As the founder of your home business you can grow as quickly or slowly as you deem necessary with regards to the business’ health. Below are tactics that will help keep costs low when expanding so cash flow of the business is not decimated. 

Create Content Daily 

Creating content daily for social media accounts, the company blog, and offsite publications is important. Being able to rank higher on the search engines can be something that increases leads and sales immensely. If you are running some sort of drop shipping business then you understand how important online marketing is to generate sales. 

On social media you should be promoting content that is created as well as engage with followers. Not only engage with followers but also related social media accounts as this can generate followers in the company’s target demographic. Replying to customers about comments or complaints can also be quite useful. Salvaging a customer simply by acknowledging they might not have been happy with a product or service is at times enough. 

The company blog should be used to educate website visitors as well as be used as a resource by others in the industry. This can also host content like that of podcast, video, or a piece of interactive media. This is not the place to write up clickbait type articles as it is just a waste of time and money if you are paying a writer. 

Offsite publications can be a great way to increase brand awareness and showcase the knowledge of the company in an article. This is going to take outreach for a publication to accept a topic that you will write. Most publications are willing to give you a link in the article or in the author bio. Increasing your search engine presence as a company will end up helping with growth immensely. 

Sales Materials Mailed Can Increase ROI

Getting sales materials into the hands of a client with a custom proposal is important to say the least. Your company could be in competition with others that might be able to meet the client in person due to their proximity. To even the playing field getting sales materials to the client and trying to close a deal quickly can help salvage a sale that could have been lost to a competitor. Mailing 5X7 envelopes to “invite” the potential client to work with your company can be a touch that helps close the sale. Small details can make all of the difference so investing in print sales materials and the right custom envelopes will deliver on ROI. A sales prospect receiving sales materials the next day after a call will also feel like their business is valued which can be positive for your business. This type of diligence will have a potential client thinking that even if you do run a small company, the company will deliver high quality work. 

Ask Your Current Customers For Referrals

Incentivizing customers to refer your business to others can prove quite fruitful as far as sales go. Those that are proficient at sales just need an introduction from the right person to instantly have rapport with the sales prospect. If you feel uncomfortable asking current customers then asking former colleagues or reaching out to a former client that has moved on in their career can be effective. Reaching out on LinkedIn is a wise approach but not everyone monitors this platform so an email or direct call will get the job done in a faster fashion. 

Have Other Companies White Label Your Services 

The chances are that if you run a home based business is that your prices are lower than larger competitors due to having little to no overhead costs. Having a company sell your services as their own or white labeling them will not have an impact on your margins. Larger companies will set prices on your services to make sure they are earning without having to do any work besides sell the services. Hitting deadlines is far more important in these cases as the company selling your services has to worry about their reputation if a deadline is missed. 

Growing your small home based online business can be done without a large financial expenditure on your part. Track the ROI on all money spent as you might find putting money into a certain area yields great results. Grow your business without impacting your quality of product or service as this healthy growth ensures future success. 

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3 Ways to Start Earning More Money on the Side

If things have been a little tight recently, you’re in need of a boost to your income. Your first option is to ask your boss for a raise. But they decline, even though you ask politely.

So what are you going to do? First of all, don’t give up. More money is in your future when you check out these three simple ways to make extra cash on the side.

1. Start freelancing

With more than 56 million people in the U.S. freelancing, the gig economy is booming. You can join their ranks by offering up your services as a freelancer.

In other words, you can take on individual contracts outside of your full-time job and offer your skills as a designer, accountant, or consultant to clients online. There’s really no limit to the kind of work you can find online.

If you aren’t sure where to start, these apps can help you find your first job:

  • Indeed
  • Fiverr
  • Upwork
  • CloudPeeps
  • Freelancer

One of the bigger perks of a freelancer is being able to choose jobs that fit your schedule. However, one of the downsides is how these jobs may affect your taxes. In the eyes of the IRS, you’ll be considered self-employed, so you’ll have to make your own tax deductions from your earnings.

Most financial advisors suggest you save as much as 30 percent of each invoice for tax purposes. You should put this into a separate savings account used solely for taxes, so you’re prepared for when you owe these deductions in April.

2. Become a rideshare driver

If you own your car, becoming a driver for Uber or Lyft is an easy way to make some extra cash. All you need is a vehicle that passes basic safety tests and a smartphone, and you can find passengers in your area.

Most ride-sharing apps operate 24/7, so you’ll be able to fit in time behind the wheel regardless of what your day job is. You can choose to work days, evenings, and even overnights to pick up people in need of a lift.

If you can manage to drive during peak travel times, you’ll be able to cash in on surge pricing. Since there will be more passengers looking for a ride, you’ll be able to charge higher fares during these busy times.

While most rideshare services will pay you like a regular employee (i.e., you’ll see tax deductions from your earnings), they won’t cover any maintenance you’ll need on your vehicle.

Whether due to a collision or simple wear and tear, repairs can be expensive. You should contribute some of your earnings towards an emergency auto fund in case you need to bring your car into the shop for work.

If your emergency fund isn’t enough to cover these essential repairs, you can find an installment loan online to help cover the bill. Online installment loans are easy, convenient alternatives to personal loans distributed by mainstream banks.

Their online applications are quick to fill out, and they have less stringent approval criteria. While you’ll have to produce contact and financial information, you may not need a prime credit score before you’re accepted like you would with most mainstream personal loans.

For more on what to know before you borrow, do some research on the online options in your state. You’ll be able to see if you’re eligible for these fast-acting loans.

3. Hold a garage sale

With the arrival of spring’s warmer weather, there’s never been a better time to hold a garage sale. The conditions are perfect. If you choose a weekend free of rain, you’ll be able to hock your wears for an entire day without feeling too cold or too hot.

In all likelihood, you have a lot of stuff to sell, too.

That gives you a prime opportunity to go through closets and cupboards to find items that you don’t need anymore. Go through your entire house with this mindset and start collecting duplicate or unnecessary items you can sell in a garage sale.

Don’t worry if where you live makes a physical garage sale impossible. With the right app, anything’s possible. You can find consignment stores to sell your clothing and online auction sites to sell everything else, including:

  • Amazon
  • eBay
  • thredUP
  • eBid
  • Swappa
  • Letgo

While most of these apps will take a cut of every sale, you’ll still earn money while decluttering the house. Now that’s a win-win!

Whether you’re a skilled IT technician, an expert driver, or a collector, you have the opportunity to make more money without relying on a raise. Forget about your boss and rely on yourself to boost your paycheck. Choose the option that works best with your skills and schedule, and you’ll be raking in more dough each week.

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More than money: How to tempt the best employees on a shoestring budget

It would be fair to say that we are well and truly in the era of the start-up culture. Wherever you turn, start-ups are popping up everywhere, and there seems to be a story every day about the latest new business securing lucrative new funding.

However, not all of these start-ups can afford high salaries. At the same time, not all start-ups are going to receive lots of funding and as a result, can’t compete with salaries.

This is where creative minds need to enter the picture. Unfortunately for them, employees just aren’t going to choose them if they can’t offer them something else in return. It’s understood that a large proportion of start-ups fail in the first year, so jumping ship and joining one of these companies on a less-than attractive package just isn’t going to happen.

Following on from the above, let’s now take a look at some of the ways in which young businesses can reward employees, without paying huge salaries.

It’s the small things that matter

Let’s kick things off by highlighting that you don’t need to be giving twice the average annual leave, plus other ridiculous perks to join your company. Sometimes, it’s just the small things that count.

Building a good culture is something that can take time, but you can accelerate the process with small gestures. For example, employee holiday gifts might feel like a small token, but it’s something that still makes your employees head home for the festivities knowing that they are valued by their place of work. Small tricks like this can make the world of difference.

Gym memberships and wellness programs

This is something that has come into its own over the last few years and is regarded as very important by a lot of employees.

Companies have realized that the likes of gym memberships and wellness programs don’t just put a smile on their worker’s faces, but they can also make them healthier. Ultimately, the number of sick days should theoretically reduce.

As a company, you can tend to get discounted gym rates if you can promise that a set number of your workers will subscribe. For the employees themselves, they at least know that they are saving the best part of $50 a month – and this is something that they can link back to their salary.

Performance bonuses

This is largely going to depend on the type of industry you are involved in, but it goes without saying that lower salaries can be offset by performance bonuses. In the UK for example, Sports Direct is known for its low salaries, but at the same time it offers huge bonus pay-outs to all of its staff. Ultimately, this is something else that workers can factor into their decisions.

Flexible schedules

Finally, don’t underestimate the importance of flexibility. Recent studies have shown that more and more companies are encouraging their staff to work from home, and the effect it can have on morale is incredible.

Sure, this isn’t something that is applicable across all industries, but if you can manage it in yours you will prove to be a much more attractive proposition to potential employees.

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BUNDESLIGA CHAMPIONS BORUSSIA DORTMUND IN MARKETING PARTNERSHIP WITH GMO TRADING

June 29, 2018 – GMO Trading is proud to announce that it has entered into a partnership with Borussia Dortmund the Bundesliga Football powerhouse for the 2018-19 football season.

GMO Trading is a worldwide investment firm that has created a secure and simple to operate trading platform for traders of all skill levels. The platform meets the needs of clients for a platform that can be accessed anywhere and at any time during the day. Reception to the platform has been outstanding by customers throughout Europe.

From GMO Trading: “We are delighted to be a regional sponsor of Borussia Dortmund, one of the Bundesliga’s finest football teams. As home of the ninth largest stock exchange in the world, Germany is an important trading market and presents a key growth area for GMO Trading. This partnership will help raise awareness of our offering among European business leaders.”

Beginning in August of this year, Borussia Dortmund and GMO Trading will work together to market GMO Trading to markets in Europe outside of Germany.

The partnership will allow clients of GMO Trading the chance to participate in a range of exclusive offers and benefits from the club, and the chance to get VIP tickets and official merchandise.

GMO Trading will use social media and its website to introduce Borussia Dortmund branded initiatives to the market. To discover how you could benefit from GMO Trading’s services, please visit www.gmotrading.com.

For more information, please email Rebecca Wharmby – Rebecca.Wharmby@Threepipe.co.uk

About GMO Trading

GMO Trading brand name of Royal Forex a Cyprus Investment Firm, regulated by Cyprus Securities and Exchange Commission

The GMO Trading platform offers clients an unmatched trading environment and superior service, allowing them to access global trading arenas with great security and comfort.

GMO Trading puts at its clients’ disposal an unsurpassed variety of account options that can perfectly fit any trader’s requests. Clients benefit from innovative trading tools that delivers them the possibility to turn their trading desires into reality.

For more information, visit the GMO Trading website at www.gmotrading.com or  visit its Facebook at www.facebook.com/gmotrading/.

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What a 401K Can Do For You

When you get a job straight out of college it is important to find the right mix of salary, benefits and experience to launch your career. And if you can find a company with a 401K plan, that is even better. You want to make sure that your employer will match your 401K contribution and you want to max out your contribution in order to get to that match. Get as much money from the company as you can. That is free money. You can’t do better than free money.

When you take the match from your 401K, you are growing the base of the account that is going to grow and grow and grow and provide you with real money in your golden years. And when you get enough money in your 401K, you can start trading it on your own. As long as you roll it into your own IRA style account. Or even if you want, you can trade your own stocks in the 401K that you own. You just might lose the match.

So you have to make your own decisions about how you want to manage your 401K. You can take the passive investor approach, where you let your company’s 401K plan administrator manage all the money. And you check it quarterly. Or you can take a more active approach and go on your own.

But the most lucrative and smart approach may be to create your own brokerage account on the side and start day trading. That way you keep your day job, contribute to a 401K and learn how to day trade on the side. If you put in a lot of effort and learn the right strategies and techniques, you can become a profitable day trader. You just have to take the online classes and stuff your head full of the terminology. It is helpful to be able to spend a lot of time in front of screens, learning the trends and patterns.

Day traders are hunters of volatility. You are always on the lookout for more stocks making big moves throughout the day. You need to have the right plan to be able to take advantage of these opportunities. The best way to do that is to learn risk management. Have a plan for each and every trade that you make and make sure that you have a stop-loss on each trade. So that if a trade goes south, you have a built in mechanism to sell the shares before you lose a lot.

The best way to get good is to start paper trading. That means practicing in a simulated trading environment where you are trading virtual currency. That gives you a chance to learn on the job without risking your real money. You can practice trading and learn risk management in a simulator that trades at the speed of the regular market. It is invaluable experience.

So that is your choice. Take the passive approach, get a good job and keep giving to your 401K. Or do that, and get yourself a day trading gig on the side.

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Net Worth: Why You Should Track it closely for Financial Success

A person’s net worth is the ultimate determinant of their sum wealth. The net worth is the result of deducting liabilities from the assets. Calculating the net worth gives one a clear picture of the total cost and earned and spent in a lifetime. Tracking the net worth helps one keep their goals and perspective in check. For example, if a person’s total amount of assets amounts to $200,000 and liabilities equals $300,000, the individual will have a negative net worth of -$100,000. It is crucial to establish the financial status of a person or an enterprise so as not to accrue a deluded sense of net worth and fail to achieve success.

Reasons why it is imperative to track the net worth 

1. Considering that net worth is the honest reflection of a person’s wealth, it is a perfect way to determine if one is making positive or negative financial progress. Bob Berger of Forbes.com, states that a constant or increasing net worth is a sign that investments are bringing positive returns. A declining net worth means that one should deduce which activity is draining the money and work towards adjusting the situation.

2. A clear picture of the net worth eliminates the notion that income is equal to one’s wealth status. A person earning $500,000 per year with liabilities amounting to $200,000 in a year is worth $300,000. The same result applies to an individual making $350,000 with liabilities amounting to $ 50,000 annually. With this concept in mind, it is easier for one to plan the steps towards realizing financial success by reducing liabilities to increase the net worth. Besides, considering the assets only when establishing net value, such as a home or a successful investment, is a misguided way to achieve success. The difference between the property and the liabilities like debt determines the exact net worth.

3. When applying for a loan, most banks and lending firms will evaluate the borrower’s sum net worth to determine credibility. A bad credit loan automatically disqualifies one from receiving the cash. Keeping a positive net worth helps one acquire a higher credit limit that can be helpful in expanding one’s investments and ultimately reach goals.

4. A good net worth is essential in keeping the debt status in perspective. A significant amount of loan offsets a lot of people. However, if one’s net value exceed the amount, then it is clear that the debt level is not extreme. A loan that exceeds the net worth means that one should probably cut down on the amount borrowed and live within affordable ways to amass wealth. A low net value to loan ratio is also a great motivation for one to find means to realize a higher rate that translates to increased prosperity.

According to Investopedia.com, the net worth is bound to experience fluctuations just like the financial health of any other industry. As a result, the net worth will reflect the status of the financial health of the various assets and liabilities. It can be difficult to establish one’s long term goals and short term goals without a clear picture of the money owed and money earned. Determining the ultimate net worth with the help of a financial analyst, or a convenient net worth determining software application will save one the stress that comes from tapping into savings and investments, and accumulating unwarranted debt.

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How to Succeed as a Business Entrepreneur – 6 Top Ways

Having taken the primary and most important step, which was to set the wheels of your business project into motion, the next step would be to discover new ways to make it grow and prosper successfully. 

It is important to realize that you need to dedicate your heart and soul to the initiative for it to receive a great number of responses.

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The most important thought you would need to inculcate is that this would be a result of all the hard work, the creativity and the love that you put in to bring the project to life. So be ready to breathe it, eat it, dream it and live it!

Make it a point to read some quotes every day. Motivational quotes have the power to influence your mindset and allow you to function effectively!

Here are six important pointers to help you become a successful business entrepreneur!

  • Become more vocal

It is imperative that you break out from that shell of yours and become more social. No better time than now to begin engaging with others who are in the same place as you. The best form of help is self-help.

So let’s start there. Make it a point to get to know different people, and tell them about your new project. Speak freely and with confidence. Make it an engaging conversation. Allow them to pass criticism and pick it up from there. When they see the fire and passion in your voice, they will begin to take you more seriously

  • Marketing Online

Another way to spread the word effectively is talk about on the internet. Create a website that elaborately depicts your project in an intricate, catchy yet professional way. Outline your project details effectively and highlight the essentials. Spread the word by sharing the website page on your social media accounts.

You could use your friends’ and family’s help by asking them to do the same as well. Build a strong front by exploring various such upcoming start-ups and mutually help each other to grow together.

  • Lend a Helping Hand

Remember that there are probably many out there like you trying to come up with their own business ideas, and so it’s much easier when you engage with such people. Don’t hesitate to offer them help and let them know when you come across new, innovative ways to sell your project. This will always come in handy because this way you get to learn so much and have a diverse exposure to all kinds of people and projects.

Also, when you lead a helping hand, you can be sure to receive the same when you need it!

  • Good Strategy and Testing

Come up with a good enough strategy to outline your project, beginning from the initial to final steps of development of the project, making sure you’ve kept in mind all the little details. It must be a fool-proof strategy, and you must be able to work out any shortcomings. Investing into franchises is a great way not to only make money but to start a business in the future.

The final step before delivering the product to the public would be to test it amongst close friends who would appreciate and criticize you at the same time. Absorb the good and work on the negatives.

  • Come Up With Good Customer Service

This is the next big thing which would help your business grow! Put in place a team which dedicates itself to satisfy the needs of your customers. This is highly necessary if you want good reviews and expansion of your business. This will go a long way to getting contacts as well.

  • Believe In Yourself

This is the first and last thing on your mind when you work on your project every day. Trust yourself to make right choices and stand by it. It all works out for the best when you believe in yourself and in your dreams.

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