In the 1970s, freshman graduate Fred Smith founded a new delivery company called FedEx with উত্ত 4 million in inheritance and $ 80 million in loans and investments.

Just three years later, Smith’s new company was Flandering.

With only $ 5,000 in the bank and a total of $ 24,000 in fuel bills, the future did not look bright.

So, what happened?

In a moment of insanity (or business brilliance), Smith picked up a taxi at the airport, bought a ticket to Las Vegas, and headed straight for the nearest Blackjack table. At the end of the night, he increased the amount of his stack and won enough cash to keep FexEx running for another month.

It has grown rapidly over the decades and FedEx has become a global delivery powerhouse, employing over four million people and processing 13 million shipments per day.

Now, the point of this story is not to legitimize gambling as a fundraising strategy. (Seriously, don’t try to copy Smith’s success.)

The point is that even exceptionally successful companies go through difficult times and carefully return to their profits.

This article will share four tips for new business. If you address these issues, it will be easier to keep your business on track and follow FedEx for global success.

Don’t ignore credit control

Startups and small businesses really struggle with asking their clients and customers for payment.

It can hit you as weird. Small, cash-involved business No. Ask for payment? Really? Well, yes and there is a very simple explanation for that.

Small businesses usually have very small employees and since they have small employees, employee members usually take on multiple roles. Perhaps the most common role I see in doubling is sales and credit control.

It’s only two steps of the same process so it makes sense to stick to the roles, doesn’t it? No.

Asking a person to build a relationship with the customer and chase them for money after closing the sale creates quite a confusing relationship.

Often, salespeople will ignore the credit, feeling that their work is already done. If left unchecked, poor credit control can and will destroy your cash flow and potentially your business.

The simplest solution to the problem is to completely separate the two roles. Work one employee with sales and the other with credit control and set those roles apart.

However, many small businesses simply do not have the budget to create a dedicated credit control role.

For this business, there are some general tips to actually follow the loan.

First, when you write credit terms, make them clear, strong, and consistent. When a customer agrees to your terms, they should know exactly what they need and how the agreement applies.

Second, put your business at the top of the credit line. The stark reality of the business world is that lenders who shout louder and tend to pay first for the longest time – usually at the expense of a quiet company.

If you want to pay first, it’s important to schedule follow-up with your customers to remind them of any upcoming shipments.

Third, if a customer does not repay their loan, it is important to take action and not let it slide. The most effective tool you have is a very simple – phone.

Phone calls are hard to ignore because they are literally ringing on your desk. And if you get to answer someone, you are talking to them personally, which again is very difficult to ignore.

Don’t rely on email or snail mail because your creditors will mark it as unread and close it for another day.

Realistic forecast

Time for more technical advice. Forecast. Forecasts are important and useful tools for virtually every business, helping business owners understand where they stand now and where they will be in the future.

Unfortunately, many business owners believe that the forecast is a one-time deal. When they write their business plan they set their forecast back then never look at them again.

This is a huge mistake.

Forecasting is a living document and, like all living things, requires love, care and attention.

As your business grows and develops, you revisit your forecasts and update them based on what you’ve learned. It keeps them as relevant and effective as possible.

For the practicality of designing forecasts, you should always base your predictions on past data. If you haven’t hit specific performance metrics before, why do you think you’ll hit them in the future?

If your predictions show unreasonable effectiveness, it’s time to revisit the data and create new predictions.

Now, why do you think forecasting is really important and this is a very good question! What good does a good forecast give you over a poor person?

Accurate forecasting gives you a clearer idea of ​​where your business will be in the future, which allows you to plan accordingly. Having a cash flow problem on the horizon? Do you have enough cash to bring in more staff? And so on and so forth.

Forecasting allows you to measure your performance by comparing forecast sales with your actual sales. If there is a discrepancy between the two, you can separate the problem and solve the problem.

Ready for the unexpected

In the business world, things rarely go unnoticed. Just think of Fred Smith and FedEx. Do you think he ever plans to rely on gambling income to fill a funding gap? Of course not!

The reality is that things don’t go as smoothly in the real world as they do in your business plan. So it pays to be prepared for the unexpected.

Unfortunately, new business owners assume that everything will run smoothly and there will be absolutely minimal budget.

When something goes wrong (and something goes wrong), idealistic business owners suddenly rush into disaster without cash or resources to adapt and survive.

The solution is simple. Assess the risks and build a shaky house where you can afford it. If things start to go wrong you will be grateful that you are ready for it.

Get help when things go wrong

When someone starts a business, they often jump into a million different roles in the first few years. It gives birth to the mentality that they do not need help and they can do almost anything by setting their mind.

This mentality works but only to a point.

If your business starts to struggle, you don’t have the opportunity to spend months learning about recovery strategies. Within a few months, your business may be in a downward spiral or even already closed.

The more time you give to a business rescue professional, the better the chances of a successful rescue.

So, don’t bury your head in the sand, don’t double down on risky gambling and don’t bother with it when you don’t know what to do. Go get professional help.

India is one of the fastest growing economies in the world. Financial services are one of the fastest growing sectors in the Indian economy. It has huge potential. Due to the large middle income population and low penetration of financial services in the country, making personal money management an absolute necessity. The financial services sector can be divided into sub-sectors such as banking, insurance, non-banking financial services and financial markets. There is a lot of potential for growth in all sub-sectors of the financial services sector Lack of awareness, low risk appetite and limited access to these financial markets have led to minimal penetration in the country. With interest rates falling, technological advances and awareness raising, more and more people are being attracted to the capital market.

The increased flow of capital into the Indian capital market offers great opportunities for talented and skilled people. The sector is looking for qualified professionals to take it forward. The rewards are best compared to other sectors of the economy.

Below are the top 5 career opportunities in the Indian financial market

Director of the Fund: This is one of the most sought after and highest paid career opportunities in this sector. Financial institutions such as mutual funds, insurance companies and other organizations with large investable funds hire a fund manager to manage the funds in line with the objectives of the organization / investment project. The minimum qualification here is MBA Finance, but preference is given to persons with CFA qualification. The chances of earning are limitless because the fund manager’s compensation is usually associated with the performance of the fund.

Portfolio Manager: Parallel to the fund manager is the portfolio manager. They have a similar role but in a slightly different way. Portfolio managers manage small amounts for multiple clients at the same time. Their job is to manage the portfolios of HNI clients or companies with small investable funds keeping in mind the needs of the clients and their investment objectives. Job expectations, qualifications and compensation profile are the same as fund managers.

Business Analyst / Financial Analyst: One of the most sought after career options in the financial markets is the analyst, who may be called a business analyst or a more specialized financial analyst. The role of helping top officials to get accurate information for decision making. Analysts work with data both internally and externally, understanding and analyzing it to create meaningful information from it. Analysts may have general assignments or specific assignments. Eligibility is usually MBA Finance, but the qualification at the undergraduate level will depend on the nature of the institution employed. The entry level salary is not very high, but as the individual gains experience and develops domain skills, the compensation increases geometrically. Basic knowledge of economics and skills to connect points and pull threads are required.

Risk Manager: With increasing globalization and the large number of startups popping up every day, business risk has multiplied over time. The number of business failures has also risen sharply. So risk managers help companies assess business-related risks and take calculated risks. They help to manage the risk and take appropriate steps to reduce the risk or hedge the risk. Risk managers need to have strong basic knowledge about the business. In addition to a master’s degree in finance, they must have additional qualifications in risk management.

Investment Banker: Investment banks help companies and governments raise capital. People who work with an investment bank are usually referred to as investment bankers. They are usually advisors to agencies and governments on fundraising – such as the right source, time and form of capital. They advise companies on mergers, acquisitions, takeovers, downsizing, share buybacks, and more. Investment bankers are also paid higher salaries. Desirable qualifications are MBA Finance and CFA.

Traditionally, the financial services sector has always been dominated by chartered accounts in the country for various reasons. Most Indian B-school curricula are not complete and updated to create excellent human resources to handle the above roles. IIMs are among the top 8 Indian B-schools in preparing finance professionals Other B-school pass-outs take a little more time and experience to get to the right job profile. Several organizations offer add-on courses to prepare people for the above roles. There is a huge demand-supply gap for skilled and experienced professionals in this sector.

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Author Bio : Professor Sanjeev Bajaj did his MBA with Finance Specialization in 1992. He has a total of 25+ years of rich experience including 11 years corporate and 14+ years academic. He teaches postgraduate specialization finance courses in security analysis and portfolio management, project evaluation and finance, strategic financial management, insurance and risk management. He is interested in promoting financial literacy among the masses. He wrote guest posts on its behalf Elearnmarkets.com Besides, he has managed MDP for a number of corporations like Central Coalfields Limited, Hindalco etc. He conducts investor awareness programs for various financial institutions. He is also a master trainer for “Train the Trainer” programs.

So, have you attracted users to your site, blown them off through exciting product pages and made them easier through the checkout process? Order confirmation pops up and you send their order within one hour. After a few hours, the funds will reach your merchant account.

Everyone is happy.

OK, everyone is happy until your bank withdraws money from your account and says chargeback and sends it back to your customer.

Yes, chargebacks are a nightmare for e-commerce businesses, costing them millions of dollars every year.

What is a chargeback?

Before we jump into our three tried and tested chargeback defenses, here’s a quick primer on what chargebacks are.

A chargeback is a disputed transaction between a customer and a business.

If the bank decides that the chargeback is genuine, it reverses the transaction and returns the funds to the customer’s account.

If the bank decides that the chargeback is not genuine, the trader must keep the funds.

How do I limit chargeback?

Unfortunately, not all chargebacks are used to counteract actual card fraud.

Sometimes the customer forgets that they bought something and assumes that it is fraud, sometimes they just don’t want to pay and so on.

Protecting your business from chargeback doesn’t have to be a huge ordeal. Doing simple things well can be a real boon for your business and can significantly reduce one of the more annoying parts of an online business.

In this article, I am going to look at three tried and tested strategies that you can apply to reduce the number of chargebacks you receive.

Create a non-abrasive return and refund system

The return process of a brick-and-mortar store is relatively straightforward. If someone wants to return something, they come back to the store and find your customer service desk.

Unfortunately, this can be bypassed-but not unless you’re a techie who knows what he’s doing.

I think so. Your business may be based in New York and your customer may be in Hawaii. This creates huge logistical challenges.

Who arranges the return? Who pays for shipping? When should your customer’s refund be released? Should you return the original shipping? What happens if your delivery company loses the package?

Even a very good return process is still painful for both the merchant and the seller.

Okay, that’s fine and good but how does that relate to chargeback?

Like the convenience of modern customers. Amazon Prime, Drive-Through Fast Food, On-Demand Streaming. Nowadays, people expect things to get easier.

If your return process is not easy, they will look for other alternatives. Unfortunately, more frustrated customers are turning to low-effort as an alternative to chargeback.

I strongly recommend that you start thinking of your return process and chargebacks as direct competition. Now, ask yourself if your return process is interesting enough to take your customers away from the chargeback route.

Okay, terrible enough. Here are some tips to help you create a great return process.

Basically, it’s all about reducing friction. Consider pre-paid, pre-addressed return envelopes included with the order, hiring dedicated return staff, publishing a very short return policy helpful and consistent communication.

Whatever you decide to do, always try and present yourself in your customer’s shoes and their feelings. For example, if you pay them back, how will they feel?

Once your customers know that you offer stress-free refunds, they are significantly less likely to charge back.

Use a name that people can recognize

There is an organization called 37 Signals in the United States. Although they’ve got a few products, they’re best known for a project management tool called BaseCamp.

Basecamp has become so popular that customers have started referring to the whole company as basecamp.

This makes things very confusing when it comes to billing. A customer will receive their statement and view this charge from 37signals LLC and immediately assume that someone has stolen their credit card.

In 2009, 37 signals were shooting chargebacks and they needed a solution So they started experimenting with the narrator of their statement.

After some trial and error, they changed their name to a URL – 37signals-charge.com – so that customers saw 37signals-charge.com instead of 37signals-charge.com in their statements.

If a confused customer types in that URL, they are taken to a website that explains that there are 37 signal companies behind the basecamp and that is why they are being billed.

Chargeback dropped by 30% and (I guess) there were lots of high-fives!

The takeway tip is pretty clean. Choose a statement name that your customers will recognize immediately!

Keep in touch

Think about the last time you got bad customer service. I’m talking really really bad customer service. Warlord, stand-office, neglected customer service.

The type of service where annoyed, low-paid and disgusting support staff pull out the same tinnitus responses before transferring you to a different but equally incompetent department.

Can you feel your frustration boiling over? Can you feel your eyes rolling? Can you feel the urge to slam the phone down?

If customers are given poor service and can’t achieve what they’re trying to achieve, can you really blame them for resorting to alternative processes like chargeback?

The strange thing is, good customer service is not even difficult.

Yes, it’s hard work but you don’t have to completely refine your business or bring in thousands of highly skilled workers.

The biggest change you can make is improving your communication.

Do it regularly, do it fast and make it consistent. Respond to email, phone calls and social media posts as soon as you can

Provide as accurate an answer as possible. Don’t wait to contact your customers. Actively reach out and solve their problems.

You would be surprised at how loyal a customer would be if they thought you were working for them, not against them.

Average chargeback rate

So here you have it, three simple strategies you can use to reduce the number of chargebacks you receive.

Below are some industry standards from merchant services company Ingenico Find your art and see how you compare the average.

Art	Average chargeback rate
Software	0.89
Financial services	0.79
Gaming	0.59
Gambling	0.56
Retail	0.45
Travel	0.37
Media and e-content	0.31

How does your business work against industry standards? Let us know in the comments.

With a cap of 10 10 billion, Bitcoin has been the central nerve of digital currencies for years. According to some recent statistics, the price reached a record-breaking high of $ 4500 in August. However, as Bitcoin gained momentum, numerous similar cryptocurrencies entered the market.

Moreover, most of these altcoins offer many advantages over bitcoins, which makes this market completely different. For example, they provide us with software development opportunities, social media platforms and many other options powered by blockchain.

Here are a few Bitcoin options that could become powerful players in such a turbulent cryptocurrency ecosystem.

Etherium

With over 30% market share, Ethereum has become the second largest player in the digital currency landscape. Like Bitcoin, it is a decentralized payment network with its own currency. It is based on smart contracts, applications that run as programs without third party interference, censorship or fraud.

Ethereum is commonly used by developers to pay transaction fees. However, to understand how this process actually works, you need to know what an Etherium Virtual Machine is.

As such, Ethereum is not based on centralized computing. Thus, instead of running on a single server, Etherium is kept running by countless separate computers around the world. This means that any developer can pay Ether to run their code, which makes the development of blockchain apps much easier. That is, instead of creating a new blockchain for each new application, this practice allows you to create thousands of decentralized apps at once.

With the potential to change the world of digital currency forever, the Enterprise Etherium Alliance has teamed up with more than 150 banks, tech giants and other leading companies to help develop this cryptocurrency.

Ripple XRP

With a market cap of 220 million, Ripple is the world’s third largest digital currency and real-time gross settlement system. It was created in 2012 with financial institutions such as banks, payers and digital asset exchanges in mind. This enables them to transfer funds almost immediately to the existing numerous currencies. You can even ripple Bitcoin and convert it upside down.

For example, unlike Bitcoin and Ether, which is limited to 7 transactions per second, Ripple can process more than 1000 transactions. This is what makes it one of the most popular cross-border payment platforms. Due to the simplicity of transactions, the number of banks using XRP is constantly increasing. For example, a consortium of 47 Japanese banks has applied Ripple’s blockchain technology to conduct real-time domestic and international transactions at significantly lower costs.

Dash

Formerly known as Darkcoin or X Coin, DASH today refers to “digital cash”. It represents one of the largest and fastest growing open source, peer-to-peer cryptocurrencies. Most importantly, its decentralized governance and self-funding system made DASH the first decentralized autonomous organization. What sets it apart is its extensive features, including InstantSend (instant transactions), PrivateSend (private transactions) and DGBB (decentralized governance) that make it easy for us to trade cryptocurrencies.

These are Masternodes which play a fundamental role in DASH. They represent a level that is responsible for collecting and performing multiple transactions simultaneously. The best thing about such a decentralized MasterNode network is that it does not depend on a specific person, which means that any user can buy, transact DASH and join or leave the network whenever they want.

Litecoin

Founded in 2011, Litecoin is one of the oldest alternative digital currencies and the fourth largest in the world. Similarly in the case of Bitcoin there is no central authority, which means that coins are created through algorithm solutions. Of course, over time, these algorithms become more difficult to solve. What separates litecoin from bitcoin is that its overall cap limit is set at 84 million, compared to 21 million for bitcoin. Most importantly, litecoin blocks are created every 2.5 minutes compared to 10 minutes of bitcoin, which means it offers faster transactions.

Conclusion

Since it is 10 times larger than its nearest competitor, Bitcoin still has a huge lead over its competitors. However, as they gain popularity, the alternative digital payment systems mentioned above could steal its crown in the years to come. They are still low-value and their growth potential is high, so investing in them is always a good idea.

There has never been a better time to invest in cryptocurrency. As fiat currencies face global challenges due to social, political and economic upheavals – digital and alternative currencies are not only losing their popularity, but their value is also increasing dramatically.

While some may blow their power to say nothing more than a passing phase, those who know are sure that cryptocurrencies like Bitcoin and Etherium will continue to be more popular and may one day be an effective alternative to standard, centralized money.

If you decide to venture into this new and exciting world, knowing which currency to choose can be a bit of a chore. Bitcoin and Etherium are undoubtedly the best performing and most well-known cryptocurrencies available, and as such, they offer a lot of potential for those who want to invest.

There is a lot of controversy about which one is better than the other and although Bitcoin is the most popular it is Etherium which is most likely to grow. So why invest better than Ethereum Bitcoin? Let’s find out.

What sets them apart?

Although Bitcoin has long been the dominant currency on the market, it is now facing some stiff competition from Etherium itself, due to the hype surrounding its additional features and applications.

The main difference between Ethereum and Bitcoin is that the former is not just a digital currency. It is a blockchain based platform that provides users with many features such as smart contracts, etherium virtual machines and of course, ether for its peer-to-peer contract. It is, in essence, digital technology, not just a form of currency.

Bitcoin, on the other hand, is essentially a “digital dollar.” It works in the same way as a Fiat currency, except that it is not centralized, physically real, or controlled by any formal entity like the bank. In other words, it’s your money but keep it in a digital form.

Advantages and disadvantages of etherium

Ethereum is a decentralized digital platform that offers smart contracts written in Turing computer programming languages ​​like Solidarity. Ethers is then created as a “cost” for programs that need to run Ethereum. As long as Ethereum runs, Ethers will always have to implement the code within the platform, and since most projects are now built on top of Ethereum – this means that it is a currency that demonstrates the best long-term potential overall.

The only problem with Ethereum is that the value of each ether is linked to the success of the platform so there is always a possibility that a competitor might come up with a similar project and gaze the Etherium network.

Advantages and disadvantages of Bitcoin

Bitcoin is by far the most well-known and well-established cryptocurrency in the world. It is anonymous, decentralized, and its value is increasing (except for a few blips) in a steady upward trajectory. It is by far the easiest to trade the most recognized and readily available cryptocurrency, and it benefits from ample online resources and support so that even newcomers can grasp it instantly. Due to its large community and following, this means it is unlikely to disappear or devalue quickly, overall, it is a pretty good investment.

When it comes to losses, Bitcoin suffers from a high transaction fee and scaling problems. Since the average mining time for each coin is about 10 minutes and blocks are limited to 1MB, this means you can only allow three transactions per second. This means you face a delay, or you pay a more significant transaction fee to prioritize your transaction.

Why Ethereum comes up

We have seen in recent news that the future of Bitcoin is a bit shaky. With China taking significant steps to reduce and possibly even ban the use of currency inside the country, who knows how many more states will follow suit.

Ethereum, on the other hand, has not (yet) received any such adverse response from the government or government agencies. The unlimited number of ethers available, as well as its tie with the Ethereum platform, means that it has grown significantly over time, as well as being in a much stronger position to maintain its status as a leading currency.

Although the future of Bitcoin may hang in the balance from certain angles, Ethereum seems to be in a much more stable long-term position. For those who are thinking of investing in cryptocurrencies, or even expanding their portfolios, ether is the way to go.

All entrepreneurs need money to start their own small business. But most bank lenders will not approve you for a company loan. So are entrepreneurs like you stuck in a rocky and difficult place? No, here are 12 proven, unexpected and some new ways to start your own firm and finance your startup business.

Read about future business owners:

SBA and bank loans – Although government bureaus, small business administrations guarantee such loans, startups are not eligible unless the owners have a credit rating that is excellent and willing to guarantee adequate security like your home. SBA loans are given to most companies for growth and crisis recovery.

Microfinance is unprofitable – Most small lenders are foundations or banks that are socially-centric. Their responsibility is to stimulate the local market and help disadvantaged communities. Loans for startups are usually low or $ 50,000. The bonus from such lenders is training and company advice at no extra charge. These are small lenders for research Rural America, Lift Fund And Opportunity Fund

Grants – Both private and public foundations are a source of funding for encouraging new innovations and technologies. You can view thousands of available national grant applications online Grants.gov

Friends and family – Business investors want to get investors from your friends or family to show your credibility. These professionals assume that if your friends and family members invest in your business, it probably deserves it. Early startups often receive launch capital in this way.

Credit cards and personal loans – Although this method is simple, if you have a credit card and good credit, it has a lot of fees and high interest rates. The advantage is that you are not currently selling or trading the equity of your new firm. Make sure you have a large profit margin on your merchandise to have the ability to factor credit card charges with your value. When you start your new venture for a side gig, or part-time company, and show off your one-year business online, you may be able to get funding from my favorite creditor, Kabbage.com. Read my review of Cabbage Capital Loans

Mass financing – In 2016 The employment law facilitates the SEC Security Exchange Commission Rules to allow the issuance of securities (stocks) for marketing for startup funds during crowdfunding campaigns. Sites including Kickstarter enable innovators to keep their promises, which can be a contribution to business or pre-buy.

Barter trade equity or service – A great solution for those entrepreneurs who have the skills they need to be able to “pre-sell” for either service or cash. A good example is renting office space free of charge to get office space. Professional lawyers and accountants have used this method for example.

Self-financing – With the advent of low cost labor and services, startup costs are at an all time low. You may have the ability to finance your own startup, known as bootstrapping. Think about selling some of your collectibles, automobiles, jewelry or your resources to get startup money. Once, I sold my car to start my own company. I guess a car can’t make more cash than my new product line. I was right and that $ 5,000 car sales product sales increased $ 50,000.

Business Investor Group – There are groups of investors in many US regions who need to encourage startups and this is valuable. They formed a team with about a million bucks to get startups that were qualified. Find these on the Like site Damka As well as media both locally and in your own industry.

Venture Capital Firms – Although not available for startup financing, some businesses have received seed funding. Companies like Excel Partners Guess the theory and startups for a few million or more large enterprises.

Startup Incubator and Accelerator – Seed Fund – These Organization New businesses and technologies are created to nurture and develop. They relate to community development teams, universities and sometimes corporations. Training and resources are provided and seed financing can be obtained.

Royalty payment advance – Buy a complement to your organization or a customer who is new to paying you royalties in advance that you offer them. In addition, the initial licensing is called or White-labeling agreementWhich means it’s about to be the most delusional time of the year, as well.

About the author:

Marsha Kelly His first business sold more than a million dollars. She shares her hard work experience as a successful serial entrepreneur on her Best4Businesses blog http://best4businesses.com. Marsha regularly posts business tips, ideas and advice as well as product reviews for business readers. As a serial entrepreneur who has made “time” in corporate America, Marsha has learned that any product or service works really well in business today. You can learn from the experience of shopping the internet for tools, supplies and information to build your business and improve your life financially.

There are so many great reasons to work with a remote team … access to a global talent pool, flexibility for team members, less office overhead, travel time savings – just to name a few. But despite these advantages, distant teams also have their challenges. Different time zones, lack of intercultural communication, visual and verbal communication signals can make productivity challenging.

With a remote team, you can not just call an immediate meeting in the boardroom, take someone over for coffee, or walk past their desk to get an idea of ​​what your team is doing. Remote team productivity depends on setting up the right system to allow everyone to work at their best.

Here are 6 ideas for increasing the productivity of remote teams

1) Agree to “Core Hours”

Flexibility is great, but a lot of time can be wasted if team members don’t work within the same hours. Everyone works without it 9 am-5pmFind a middle ground from which everyone agrees to work 11 a.m.-3 p.m. (Or whatever your team agrees with). Outside of this window their times may be flexible but this way you will always have a good time to collaborate with team members in real time.

2) Share daily action plans

When teams work together in the same office, it’s easy to feel good about what everyone is doing. But with distant teams, that’s not the case. Lack of transparency can easily create mistrust in the team and people can easily waste time working on things that are not top priority.

To avoid this, urge each team member to note down a few things they are going to work on for the day. (Writing it down and having a defined focus actually makes people much more productive.) You can do this with Action, Google Sheets, Trelo, Slack, or any other tool. Knowing what everyone else on the team is doing creates a high-performance environment and a better sense of working in a team towards a common goal.

3) Understand when to use a tool

There are plenty of online communication tools available but deciding when to use each one can make all the difference to the productivity of the remote team. Maybe you have a team video call once a week, hold a weekly one-on-one audio call with each team member and use chat to work 1: 1 on a project. You may also want to keep some guidelines so that if things go off-track and communication to one channel fails, switch to another channel. (Texts can often be misinterpreted and a voice or video discussion can eliminate any confusion.)

Use your regular team meetings to check in with your team and understand how communication is flowing. Maybe a transfer is needed for certain types of communication.

4) Simulate water cooling

Just because your team works remotely doesn’t mean it’s important to build a strong team culture. In fact, it is more important that you take deliberate steps than ever before! Teams that know and respect each other work more productively and achieve greater results. After all, no one wants to disappoint a friend.

To achieve this, you need people to share personal information about yourself and as a team leader, you need to set an example. Be sure to tell your team about your family, your holidays, your hobbies and talk about both good and bad.

This may sound fantastic, but you also need to create “water-cooler conversations” within your regular communication. For example, perhaps during your weekly meeting, each group member should share their weekend highlights. Or on a Wednesday afternoon, everyone shares what they are cooking / buying for dinner. Or you can use such random prompts to build group culture and change conversations. Little by little, these snippets of information create strong bonds between team members.

5) Share daily earnings

Don’t you hate it when members of the remote group disappear and leave for days? Instead, to make it happen, create a system where everyone checks in with the team before the clock is off.

But they just don’t say goodbye to everyone and leave! They should give a brief summary for the day and what they have accomplished and no problem should hold them back. This habit of “showing off your work” has a huge impact on the productivity of remote teams. Like the Daily Action Plan, these quick notes reveal a lot of information and really help a team to work together and be extremely productive.

6) Share business perspectives and goals

It’s easy to assume that your team members focus only on their specific roles, but most people find it even more motivating to understand how they fit into the big picture. In your regular meetings, share and discuss business perspectives – think about what the future might hold and how it will impact each department.

Also discuss business goals with your remote team. Share the win (and of course, miss), so everyone knows what they’re trying to do.

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In place of such systems, and of course, with the right team members on board, it is easy to operate a highly productive remote team.

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About the author

Fiona Adler is a writer and serial entrepreneur with an MBA. He recently created and sold the largest business review website in Australia. Fiona is currently building Action.com – a productivity tool for teams, and writes on DoTheThings.com while in France with her family.

Did you make it during the holiday season when you were better prepared for the festive crowd?

Maybe your sales weren’t as good as you expected, or maybe you’re reconsidering whether your social media marketing should be carried out by yourself or outsourced from an agency?

If you are a small business owner running your own marketing strategy, you already know how difficult it can be.

In addition to running your small business, managing employees, raising funds and running books like a boss – you have also decided to run your own marketing campaign.

If you’ve been a fan of the Mad Men TV show, you’ve probably already heard “Sell the Sizzle, not Steak.” That’s short marketing. But without the help of a large advertising agency, how do you increase sales and create a positive buzz around your brand – without losing your mind?

Keep reading to find 7 effective tips to take your marketing strategy to the next level in 2018.

1. Outsource what you can.

There is a reason why large advertising agencies are so expensive. A team of marketing professionals can turn a dad into a diamond. But again there is that word: expensive. If you don’t have the money to hire a marketing or advertising agency, the good news is that marketing can be a lot of fun, if you have the aptitude for creativity. But don’t fall prey to one of the simplest start-up rookie mistakes: try to do it all.

If you want to run your own Facebook ad, or social media marketing campaign, you can do it yourself with potentially stunning results. There is a reason that social media has given birth to new celebrities; Influential social media is great equality, and almost anyone can learn how to do it. Contrary to the law or something like your taxes.

But don’t underestimate how much time you can spend running a successful social media account or blog. Are you going to be an effective DIY marketer to outsource any other area of ​​your business to make up for a fraction of the time?

2. A planner is your best friend

Do you have a planner? Digital or paper, it doesn’t matter as long as you have one. If you’re looking to start your own DIY marketing campaign, it’s important to make sure you keep track of the plate you’re currently on.

The big downside of DIY marketing? Missing an important holiday or event that can be extremely beneficial for your business. Set aside an afternoon in January to meet your planners. Use different colored highlights to identify different projects, so you never get caught unawares again. The following marketing calendar, courtesy of AdEspresso, outlines the major retail holidays in 2018 to make it easier to manage your marketing schedule:

3. Define your purpose

Before you plan your content calendar for 2018, determine what your marketing objectives are. Are you looking for new customers? Increase sign up for your newsletter? Perhaps you are looking to increase your website traffic instead. Maybe it’s all of the above.

Whatever your motives, it’s important to be crystal clear about what you want before you start pursuing it.

4. Don’t spread your social media campaigns too thin

Don’t get drunk on hashtag punches. By that I mean, if you’re a florist, go ahead and find all the stops for Valentine’s Day. But what if you are a chartered accountant? You probably don’t need to own that holiday with hashtags.

In the digital age, the market is completely soaked by competitors. The best way to stand out from the crowd? Do what you do and do it well. But don’t try to fill every vacation, including all the make-up, in an effort to expand your social media clout. Consumers are increasingly appreciating “thirsty” brands and this is not a good idea.

Choose a few major holidays that are directly related to your purpose and think about ways to maximize your chances of meeting your goals.

5. Don’t be afraid to test

When it comes to finding a successful marketing strategy, you need to try a few different formulas before you can find one that fits your brand. Split test Facebook ads, or try experimenting with a new theme on Instagram.

There are basically limitless options for finding inspiration for your next marketing campaign. Accept what works, skip the rest.

Over time, you’ll get a better idea of ​​what works best for your customers and how to use it to maximize sales and conversions.

6. Actively seek fresh inspiration

Any marketing, but especially social media marketing, is subject to change at the notice of one second. Intelligent trend hunters use social media to find the “next big thing” and the instant trend on Instagram survives and dies. Don’t be a slave to marketing trends, but at the same time, actively seek new inspiration from other marketers or brand strategists you admire.

Try and find those who have already won in what you want to do and test some of their successes yourself.

What will you do in 2018 to improve your DIY marketing skills? Share your story in the comments.

People always tell us when it’s right to do something. There is always the right time to get married. The right time to eat. The right time to sleep. And of course, the right time to invest in real estate. Talking about the latter, yes it comes down to a few things when buying your real estate property. Things like the real estate market situation in that area, your personal situation and where you are in life. Before you make a decision and buy your own real estate, here are five things / questions you really need to ask yourself:

What is your goal in buying property?

We all have different reasons and goals for buying real estate assets that we do. Some of us want a place to live. Some of us want to go to good places. Some of us want to get closer to work so we can walk to the office. Some of us want to invest in a place that pays us really well in the future. Some of us are close to retiring and just want to settle down All we have to do is think ahead about these goals and decide if we need to buy real estate to achieve them. Also, make sure that the price is right within your budget, otherwise your financial life will become more stressful.

How is your current life situation?

There is actually no answer to this question that is directly related to buying real estate. This is because there are no one-size-fits-all situations that are suitable for everyone when buying real estate. It depends on various factors such as whether you are currently unmarried or in a long distance relationship or married and have a family or where you are working; Whether your employer offers to relocate you to another part of the country. So we all have different situations in life. The important thing is that you make sure that what you buy as part of real estate fits your current situation.

Is your income stable?

The first and foremost thing you need to look at is whether you can afford the real estate you want to invest in. Is your current income stable enough to support a monthly / quarterly or annual payment plan? It’s easy to get excited and decide to buy something in real estate when your business or job is doing really well and you get excited about making such a decision. But the questions you need to ask yourself seriously are: “How stable is my income? What is the probability that my income will remain the same or increase in the next one year? And what about next year? If you find yourself unsure about your future income status, just mortgaging is not the brightest idea right now. You should wait a little longer or until you get a clear picture of your future earnings or when you accumulate at least enough savings to carry part of the real estate easily.

What is your credit score?

This question will help you determine what interest rate you will get on your mortgage if approved. Just a few points more or less at your interest rate can make a huge difference of thousands of dollars over the duration of your mortgage. Before you even apply for a mortgage, make sure your credit score is what you want it to be. If not here’s a new product just for you!

When it comes to investing, if your goal with your property is to make money just by selling it because you get any good opportunity, this is not always a good idea. Only buy real estate with the intention of making a genuine investment if you are absolutely sure of the deal, which you can honestly never be. This is because it involves a lot of risk, so it should not be your only criterion.

How is the real estate market in that area?

Last but not least, before you get involved in any type of real estate deal, make sure you know all about the market in that area for real estate. Make sure you know how specific properties or similar features in that area have increased or decreased their value over time. You must track the price pattern very carefully and closely before closing any real estate deal. For example, if the price goes down and your financial situation is good enough, then investing in that particular property can be a wonderful opportunity for you. On the other hand, if the price of that or similar property is always high, you may want to be patient so that you can avoid buying a bubble that can burst very quickly.

If your company accepts payment, you are now paying the payment processing fee.

Most company owners ignore these fees and write them off as one of the costs of running a business.

When you start comparing payment processing deals, there is actually a lot of diversity in the industry. Although the difference in deals may seem small – maybe one or two percent – it can add up to thousands of pounds of lost revenue each year.

This may not surprise you, but I think business owners should pay more attention to their payment processing agreements. However, to do this, you need to understand what a payment processor will actually charge you.

And that’s clever.

You see, even though your supplier will send you a large bill, it’s not actually a big fee. Instead, it has a lot of little fees and charges, which bundle together and charge you in a big alley.

So for the rest of it, I’m going through the main payment processing costs, explaining what they are and how much. Should Stay.

# 1 Merchant Service Charge

The Merchant Service Charge (MSC) is the percentage you pay for each credit or debit card transaction you receive. If you are not a very low volume trader, MSC will make up a large portion of your payment processing costs.

How much is it usually?

• Debit Card (0.25% to 0.35%)
• Consumer Credit Cards (0.7% to 0.9%)
• Commercial credit cards (1.6% to 1.8%)

Watch for what

If you contact a company for a payment processing quote, they Usually Only quote face-to-face transaction rates for your personal card. These rates are the lowest they offer so present an artificially low estimate.

For example, your cardholder-not-present (CNP) transactions will be charged at significantly higher rates. Online and over-the-phone payments also fall into a higher bracket.

Then there are company cards, purchase cards, fleet cards and other premium cards, all of which attract a high payment processing fee.

I recommend you Always Ask for a complete list of fees covering all the payment modes you plan to accept.

# 2 Terminal rental

If you want to accept card payments, you need to have your customers plug in their cards. That’s something called a Terminal And his To rent To merchants by providers.

Because terminals are expensive, rental agreements usually last for more than a year and come with a hefty closing cost if you want to get out early.

How much is it usually?

• Countertop terminal: £ 14 to £ 16 per month
• Portable terminal: £ 17 to £ 21
• Mobile terminal: £ 20 to £ 24

Watch for what

Terminal rental agreements are long, usually lasting three or four years. If you want to exit your contract before the expiration of the contract or before the specified minimum period, you will usually be stunned by the cost of the initial termination.

The initial completion cost is usually only the terminal rental cost although there is a long contract or minimum term remaining.

While some providers will offer a discount for early payment of your contract, others will charge an additional fee.

# 4 Approval fee

Some providers will charge an additional fee for each transaction for the purpose of approval. Approval fees are usually a few bucks so don’t bother many traders.

However, if your transaction volume is low, certain approvals for free can really increase your costs.

For example, if your average transaction value is £ 5 and all your other processing fees fall to 5p, that approval fee increases your overall costs by 60%.

How much is it usually?

Average approval fee: 3p per transaction

Watch for what

Ask your provider if authorization charges are included or if you pay them separately. You don’t want to get your first bill and discover an amazing new charge.

# 5 PCI compliance fee

Let me be honest with you, PCI compliance fee is an administrative charge. Although PCI requirements have been in place for several years, the charges are fairly new.

How much is it usually?

Average PCI compliance fee: £ 30 to £ 50 per year

Watch for what

First of all, if you do not obtain PCI compliance, you will be charged a higher fee for non-compliance. Exactly how much the fee depends on your provider.

In addition to the physical PCI compliance charges, some providers will charge a separate fee for online PCI compliance so be aware.

# 6 Minimum monthly service charge

Suppliers invest a lot of cash in advance traders. There are terminal costs, installation and all related admin costs. So they want to know if they will (eventually) get their investment back.

Suppliers will set the standard of profitability of traders and there is a cutoff point, below which a trader is unprofitable. If a merchant falls below this level, a supplier probably does not want their company because they are spending their money.

MMSC is designed to ensure that all merchants make a profit above the minimum threshold.

If your monthly transaction charges are higher than MMSC, your supplier will not add any additional charges. If your transaction charges fall below the threshold, your supplier will add additional charges to bring your monthly bill up to MMSC.

How much is it usually?

Average MMSC: £ 20 to £ 25 per month

Watch for what

Although most suppliers will have an MMSC, you probably won’t see it because your volume is probably above the threshold.

Before agreeing to an agreement, I suggest you calculate your own monthly transaction amount and estimate what you will have to pay for the payment processing costs. If your volume is constantly falling below the threshold, it may be worth your while investigating other payment methods.

# 7 Set up the fee

The set up fee says exactly what on the tin. A fee for setting up your payment facility.

In all honesty, this is an arbitrary fee that some suppliers prefer to charge. The justification is that it costs them and takes time to process your application. I’ll let you decide if it’s fair.

The good news is that most suppliers do not charge a set up fee because the market is so competitive.

How much is it usually?

Average set up fee: £ 75 to £ 200

Watch for what

Set up fees are the easiest charge to negotiate. Before you talk to a salesperson, do your research and note which competitors charge a set up fee and which do not. When you are ready to buy, present the salesperson with all the competitors who do not charge a set up fee and are ready to leave.

# 8 Chargeback fee

A chargeback is a formally disputed transaction between you and a customer that is mediated by the acquiring and issuing bank. If the chargeback is successful, the transaction is reversed and the customer’s money is refunded to his account. If the chargeback fails, you keep the money.

Suppliers will charge a small (ish) fee for each chargeback you receive to cover administration costs.

How much is it usually?

Average chargeback fee: £ 15 per chargeback

Watch for what

It’s a standard fee and you don’t have to pay too much for it.

# 9 Annual admin charge

The annual admin charge is a fee that some providers have to cover the cost of maintaining an account.

How much is it usually?

Average annual admin charge: £ 5 per month

Watch for what

Most providers do not charge an annual admin charge. Among them, we advise you to try and discuss the reduction of charges. Most suppliers will if you kick up a noise.