Business

Being a team leader can be challenging. A team leader role can be complicated, as you are managing a group of people and this can’t always be a smooth ride. Whilst it is hard to prepare for any issues that may arise, you can better yourself and improve the way you perform within your role. Recently we were lucky enough to enjoy a great webinar with the extremely successful Hermin Salak and managed to take away some great tips on becoming a good team leader. Included below are the tips that will benefit you in your role and lead you to success.

Motivational Team Management

It is so important within your role to motivate your team to good results. There are many ways to motivate your team but the best way to start is to rule out anything that demotivates them. The main way to demotivate your team is by complaining to them about mistakes. When someone makes a mistake it is important to discuss it with them, but you need to manage it the right way. If you consistently complain or focus on the negative, you will demotivate your staff. When mistakes happen try to focus on the positives first. What did they do right? What good work have they been doing? Speak to your team on a human level, praise them, then address the mistake and what they can do to avoid it in the future. Not only will this help to motivate them, but it will make you approachable when something does go wrong. Always try to remain positive and this will make your team respond in a positive way.

Listening

A lot of your time within a team leading role will be talking to your team about performance or tasks. Whilst this is something you have to do within your role, you need to make sure you also listen to your team. A good way of doing this is by holding regular team meetings, either once a week or once a month. This will create a great chance for you to listen to your team. Try to ask them if they have any ideas to improve the work or if there is any questions that they need answering. You also need to remember that some people don’t feel comfortable in group sessions, if this is the case organize one to one sessions. Again this will allow your team to feel comfortable with you, let them know that your door is always open to discuss things work or personal.

Achievable and Clear Goals

Setting goals for your team is something that comes hand in hand with your role. When setting goals you need to set clear guidelines of how you need your team to perform. It is so important that the goals you set are clear and understandable. Never try to overcomplicate them or put unachievable goals to your team. The last thing your team will need is overcomplicated instructions or a workload they physically can’t achieve. This will lead your team to unnecessary stress and instantly demotivate them.

This is how you can be a great team leader.

To read more on topics like this, check out the Business category

Software which offer supply chain solutions is a big business and that is because supply chain management is so important. Every step of the supply chain has to be running at its most efficient level because if it does not, there is a knock on effect that can take place. Despite the ability of a great piece of software to help ensure that the supply chain is operating as it should be, there is still a large number of companies who are using outdated tech or simply refusing to use solutions-based options, and that is a mistake. These are the reasons as to why supply chain solutions should be something which every business operating within the supply chain should have.

Cost Saving

The most obvious, and the most compelling reason as to why you should be investing in supply chain solutions is that the return is simply too good to turn down. There are massive amounts of cost savings to be made with this software and failure to use it could be costing you untold amount of money. Speeding up the supply chain through smarter management of resources, healthier relationships with partners and clients owing to the additional precision and speed of doing business, reductions in costs associated with IT, invoicing and increased efficiency. There is a great deal of money to be saved here.

Efficiency

This leads us nicely onto the second most important reason why software solutions are so important for the supply chain, as they are able to drastically increase efficiency. There are, as mentioned, bug savings to be made ere with relation to efficiency but a well oiled machine is much more than that. An efficient cog in the supply chain is one which keeps its customers happy, which has better relationships with its collaborators and which is able to keep up with demand and deal with issues which arise. Supply chain solutions are not going to instant fix efficiency issues, but not having it will ensure that they always remain, slowing down the business and increasing the operational costs.

Decision Making

High performing software solutions for supply chain management are able to offer a broad number of metrics and information to management which enable smart and fast decision making. There is no need to have to collate enormous amounts of data before making an improvement or a change because it will all be available at the click of a button through the software suite. This is a wonderful tool for the management of the business, the management of those within the business, as well as providing the right data for any decisions which need to be made. This saves time and increases the accuracy and the ability to mitigate risk in the decision making process.

No company should be working inside the supply chain without integrating supply chain solutions into their operations, it is the best way to run a better business, and to be a more efficient cog in the wheel.

If you are sitting on liquid cash during this pandemic then you are going to be in a fine position to start looking into real estate investment properties which could see you really put that money to work and bring solid gains. The idea of looking to profit from a crisis sounds far worse than it is in reality because unfortunately it is just the way that life goes, opportunities present themselves for some when other have difficulties. Given the way in which the world has had to react to the pandemic there is going to be some serious changes once all of this is over and that is going to present chances to the who do have cash, to make some great profits.

Paying Back

There are many governments around the world who are stepping up and supporting individuals who have not been able to work, businesses who have not been able to pay rent or trade and many more organizations and individuals who have not been able to operate. Unfortunately however there is no magic money tree and these loans and this support will have to be paid back. This will result in a great deal of austerity around the world which will mean less money, and lower prices.

Losing Jobs

Sadly there will be many who lose their jobs or their businesses as a result of the pandemic and that will have a big impact on where they can live. We will see many looking to sell their homes, and many of those people could very well be desperate and as such there will be heavy discounts added to the price of many properties. If you are cash rich then this is going to offer you a wealth of opportunity.

Evictions

We are seeing a great number of evictions because people cannot pay their rent and this could enable you to buy some lower cost properties and count on there buying enough people who would be looking to downsize and rent them out. In this regard you could actually be helping people and making money at the same time, which is surely the best of both worlds.

Real Estate Prices

After almost every recession in the last 50 years we have seen house prices crash greatly and it is generally expected that this will be the same situation. Once again this is going to provide anyone who has capital on hand with an enormous opportunity to get a heavy discount on an investment property, perhaps even giving them the chance to purchase a property which they previously wouldn’t have been able to afford. As the prices fall there will be many a bargain to be had, the key will be to keep an eye on the real estate markets all over the country in order to get the very best deal.

This is a tough time which we are going through but there will be winners and losers at the end of it.

The tech sector has never been more popular and it looks like that won’t stop any time soon. Of course, for the aspiring entrepreneur, breaking into a tech-oriented business has a great amount of appeal. From the general stability to the near-unprecedented potential for growth, it’s a great field to be in.

Running your own salon can be a rewarding experience, but one that comes with fierce competition from other local salons and other beauty shops. As such, it is important to know exactly how to stand out from your competitors and draw as much positive attention to your salon as possible. If you want to increase foot traffic and interest to your establishment, let’s take a look at three popular marketing tactics for your salon that will help you boost your business!

1. Run special discounts and deals for your customers.

Customers feel like they are getting the most value from a business when they receive high-quality deals that they may not receive from other establishments. For example, you can run a promotion where you pair certain services or purchases with a discounted or free product, such as gifting rose oil with their next cut and coloring or offering it at a reduced price when customers buy other beauty products (highlighting the specific rose benefits for skin to your clients).

If you have not already, consider working on these kinds of deals and discounts into your business in order to draw more customers that you can convert into regular clients. Even though it may require some cost on your behalf, you will reap in the benefits of repeat customers by offering deals. The more value you offer, the more likely you are to attract and retain the right business.

2. Become more involved with your local community.

Your reputation is everything for your business. While making sure you are providing high-quality services to your local population, you can also boost your reputation by participating in more local events and giving back to the community. This will show potential customers that you are not only dedicated to the community in your salon but outside of it as well. You can also make sure that your brand makes an impact by bringing promotional products like your salon’s branded custom pocket folder and similar offerings. Little details like this will reinforce your brand. Promotional products that are of high-quality will differentiate you from others and make the right first impression with your community. Those actively engaged in their community will receive the respect and exposure needed to get the attention they need for their business.

3. Focus on the local SEO strategy of your website.

Digital marketing can be a pain point for many local business owners. However, online marketing is one of the best tools at your disposal. Without it (and with other local businesses leveraging it to their advantage), you are unlikely to reach the level of growth you are looking for. Boosting your local SEO strategy begins with tackling key areas like content marketing, listing your business through Google My Business, gaining online reviews, and providing potential clients with an aesthetically pleasing, easy-to-use website. Another major area to focus on is your social media marketing strategy, as a physical business like yours will benefit greatly from showcasing your high-quality work to the public. If you struggle with these areas, you can always reach out to a professional who can help you with your digital marketing strategy and all of the technical details that come with it.

Marketing your salon means going above and beyond to attract the most attention possible. Whether this is through physical strategies or digital strategies, there are plenty of ways that you can draw in more clients for your business. To help you get started and gain further inspiration, use the three items above to grow your salon and attract the business that you desire.

To read more on topics like this, check out the Business category

When deciding on the best type of loan to get for your investment property, you must first determine your intent with the property and how long you plan to own it. Generally speaking, there are two possibilities. The first is buying a property to use as a rental. The property can be commercial or residential. Your intent with this property is to keep it for a while and make a profit by renting it for more than the monthly mortgage payment. The other option is to buy a property that you plan to fix up and resell in a short period. When you are flipping the property quickly, you are less concerned with the long-term interest on the loan because you aren’t going to own it for long.

Loan for a Rental Property

If you are planning to keep the property as a rental, your best option is a low-interest, long-term loan. Low interest and long term will ensure a low monthly payment. The lower the monthly payment, the more profit you can make quickly by renting it for more than the mortgage payment. Additionally, a higher down payment on a rental property will increase the monthly profit by further lowering the monthly mortgage payment. There is no need to think about paying the loan off early because you’ll be making a profit every month; you don’t need to wait until the end to see a profit.

Loan for a new Property Flip

The goal with a property flip is to own the property for the least amount of time possible, so the long-term costs of a loan are of no consequence. You do not need to be overly concerned with the interest you are paying on the loan because you shouldn’t own it for more than a couple of months. A highly successful house flip is completed in less than a month, so you aren’t making any mortgage payments. Likewise, as long as the mortgage payment is within your budget, you can also apply for a shorter-term loan if that makes it easier for you and your lender to move forward quickly.

Loans for Hybrid Investment Opportunities

While the majority of property investment purchases will fall cleanly in one of those two categories, there are times when it is not so clean. For example, you may buy a multi-family unit and live in one of the units while you rent out the others. Another example would be a long-term flip. The idea behind flipping houses is to move quickly, but some investors do not have the time or financial resources to renovate a house for resale swiftly. Some buy a house that needs to be renovated but is livable, and then move in, so they can make the renovations as time and money allow. In these situations, the best course of action is to get a low-interest, long-term loan.

If you’re also looking into investing in mortgage-backed securities, first start by studying Freddie Mac and Frannie Mae. Then start studying equity REITs, which is a real estate investment fund that purchases properties and distributes the money made from those investments to shareholders.

It is essential to be clear with your lender that you are looking for investment home loans. You will not be eligible for any sort of first- time home buyer or residential home buyer loans or discounts because you are not planning to live in the property. However, there may be specials for investment properties that are not available to homeowners. The loan rates available to you will depend on a wide range of factors that your lender will be able to explain.

First Mac has been helping both homeowners and investors buy properties for many years, and they have the experience and knowledge to ensure you are getting the best possible loan. If you are unsure of your long-term intentions with the property as explained above, your First Mac financial advisor can walk you through your options and make educated suggestions on what may be best for your business.

The growth of Online Gaming Platforms has been nothing short of remarkable. From simple games such as Solitaire to virtual universes – so much progress in less than a couple of decades. These platforms have also become hubs for interaction between other ardent players. Most importantly, it’s where financial transactions take place. The reach of these platforms is massive. But how are these platforms reaching every computer, laptop, or cell-phone?

New and Creative Forms of Marketing

Up and coming digital gaming platforms know that they cannot attract new players via traditional media outlets. So, they chose promotion channels that were cheap and gave them easy access to the masses. Website marketing, social media shares, and ads on other gaming platforms are common. To observe the power of this ‘viral’ marketing, visit here and see how much strength these new platforms acquire.

Key Marketing Objectives 

The key marketing objectives of new and innovative gaming platforms include –

• Identifying target demographic – The platforms create a ‘player persona’ to target specific regions of the internet.
• Creativity – The ads and marketing messages focus on creativity. Clickable ads, prizes for downloading other games, etc. are innovative marketing tactics most gaming platforms use.
• Optimization – Every letter on the platform’s website, social media pages, and ads goes through careful keyword optimization lenses.
• Bonuses – Since most of these platforms are new, their main objective is to secure a steady customer base. They offer lucrative and different Online Casino Bonuses every month.
• Testing – Since most of the marketing takes place online, it is very easy to analyze the effectiveness of these ads.

In-Game Player Acquisition

In-game acquisitions are the strongest tool for online gaming platforms. Offers, discounts, bonuses, or free points are common tools for keeping players from leaving the platform. Some other tools include –

• Rewarding the player for his/her experience
• Rewarding players for integrating their social media accounts. More exposure for the platform, free bonuses for the players – everyone wins.
• Incentivizing word of mouth promotions. Ask your friends to join the platform to win in-game prizes!

Becoming a Platform for Advertising

Online gaming platforms are no longer mere products. They now operate as full-fledged advertising platforms. It’s is the final step for such flourishing gaming platforms. It will make them masters of their destinies.

To read more on topics like this, check out the Business category

When you’re a busy entrepreneur, a virtual assistant may be the secret to keeping your small business afloat. Virtual assistants could reduce your operating costs by 78% and be 13% more productive than your office employees. 

Being an entrepreneur is no easy job and can be a real juggling act. And, you know what they say “time is money”. So, with time being one of your most essential resources, any task that wastes your time is holding you back from helping your business grow.

Lucky for you, it’s never been so easy to unload some of your time-consuming tasks. How? By hiring a virtual assistant to help you with various functions that keep you from completing the core processes of your business. Data shows that a VA can help you cut operating costs by 78%, be 13% more productive than their office-bound counterparts, and can also become your full-time employee if you need long-term help as 59% of VAs worldwide are full-time employees.

So, what is a Virtual Assistant? As the experts from Virtalent  explain ” VAs can be independent contractors or work as part of a larger organisation like ours, offering support to businesses, just like a regular assistant or secretary would, but from a remote location.” There are many tasks that a virtual assistant can handle for you when you are a busy entrepreneur, but here are the five tasks they care of most commonly.

Image source: https://unsplash.com/photos/kUqqaRjJuw0

Receptionist

You may be surprised how much time answering the phone can make you waste, especially when some calls are wrong or intrusive such as wrong numbers or insistent telemarketers. Answering the phone to clients, partners, suppliers, etc. will make you waste a lot of time you could have spent on getting more important things done.

Luckily, this is the type of tasks that a VA can easily handle for you while you get the time to focus on core tasks.

Scheduling

Think of all the time you’d waste to send emails, trying to agree on a time and date for a meeting. When you are a busy entrepreneur, you can’t really afford to lose all this time. The good news is that a VA would take care of scheduling meetings, appointments, and all your calls.

Email

Just like answering phone calls, emails can also be a huge vacuum for your time. And, when you are a busy entrepreneur, you most likely receive hundreds of emails every day. A virtual assistant can help by managing your inbox and sort and filter all the emails you receive, respond to those that are important and delete the spam ones.

Database maintenance

No matter what sector your business is in, keeping spreadsheets and databases are an essential part of keeping track of your business information. But, from centralizing all the information to analyzing it, everything takes a lot of time. So, leave it to a VA who can handle all these tasks for you.

HR and recruiting

Recruiting is a very time-consuming business process but also an essential one to the success of any business. A VA is the perfect person to manage all the tasks, including posting job ads, interviewing, and handling paperwork.

To read more on topics like this, check out the Business category

In the wake of the recent pandemic, some may have been looking for ways to supplement their income or create their own remote business opportunities in lieu of the traditional 9-to-5. Arguably one of the most popular and promoted ways to accomplish this is by setting up your own eCommerce shop.

If you’re looking to sell certain items online, this can often be one of the easiest methods to make it happen. For those who may not be knowledgable about starting an online business, the question is, how do I get started? If you want to launch your own eCommerce store, here is a step-by-step guide that will help you get started when you want to take the next step in your business.

1. Design your website.

Every great business begins with a vision. In the case of an eCommerce store, this first step begins by not only thinking about which direction you want your business to go into but your website will look like and how these aesthetics will serve to draw in your target audience.

For those who may still be experimenting with the idea, there are many different web platforms that can help you stage your website and figure out what it may look like once you begin selling. For those who are more serious about their business, however, it is best to seek out the help of local Denver web design companies to make that your website looks professional and can function according to your needs. Otherwise, you can end up limited to what certain platforms allow you to design and create on your own.

2. Take care of your hosting needs and paperwork.

Once you have laid the groundwork for your future eCommerce site, it is time to begin taking care of the legal processes behind building a legitimate business. This may include basic things like registering your business, getting a vendor’s license, and figuring out how you are going to store and sell your inventory (if you are interested in this type of business model over alternative selling methods currently available).

You will also need to find the proper hosting for your new site and file a DBA to operate under the name of your small business. If you do not have a complete understanding of business law, reach out to a professional who can help you take care of each of these key items.

3. Figure out what products you want to sell.

Your brand will be built upon the type of products that you choose to sell. Some online shops may decide to experiment with a whole range of products (for example, fashion) while others may focus on only one type of product to deliver a more hyperfocused experience for their consumer base. Whatever comes to mind in terms of your ideal product, it is important that you conduct market research to make sure that there is a demand for it and to be able to compete with others in the same space.

The other thing to consider is how you will acquire the products that you will be selling later. For example, if you plan on selling consumer electronics, you may have already noticed just how much it would cost to obtain and resell brand new products. The solution? There are online liquidation auctions, such as those hosted by Direct Liquidation, that will allow you to get your hands on pallets of items for reduced prices, which you can then list and sell to your customers for a profit. If you want to make sure that you are getting the best deals, source your own products from the above!

4. Develop your marketing strategy.

Setting up a store is exciting, but if no one knows that you are open for business, you aren’t going to see any results for all of your hard work! It is important that you develop a marketing strategy that helps you tackle important aspects of marketing like content marketing, setting up and automating social media, creating email marketing campaigns, and finding other creative ways to get your business out into the world. As you grow, you will need to return to these strategies in order to maintain them over time.

5. Launch when you are ready!

Once you have taken care of setting up your business, creating a roadmap, and making sure that your website and product are in place, you are ready to launch! Remember, while setting up an eCommerce business can seem daunting, it is more than achievable when you put in the work. To get started, use the step-by-step provided above to work through the process and set up your business with ease.