Mohit Tater's Blog, page 599

4 Tips to Securing Your Business’s Profitability

Right off the bat, entrepreneurs want to expand their businesses in an increasingly competitive market. But even though technology continues to evolve, the main barriers to sustainability remain. For most of them, it has a lot to do with keeping a business as profitable as possible.

Along these lines, it’s important for business owners to focus their time and resources on activities that can help them realize their goals in broadening their profit margins. Then again, this is a challenge they will have to address if they’re seeking to remain relevant in the near future.

Business leaders will need to go the right way in keeping their organizations’ profitability intact. Here are a few tips that can help out in the long run.

1. Take a step back and assess

Setting up a business, even if it’s for generating passive income, has to involve a great deal of vigilance. Disruptions in the technological arena as well as the economy’s performance all play a vital role in the life of your business. That being said, it pays to be aware of the changes that are happening around you and come up with a strategy for adapting to these changes.

Before that, you will need to reassess your SMART goals. The objectives you have set three months ago could be irrelevant right now. In other words, you will have to make changes to your business approaches all the time. New opportunities and threats will influence your profit margins in ways you just can’t scoff at. Instead, you will have to use these factors in calibrating your business goals.

2. Update your marketing strategy

Marketing your product or service has to go through an update every now and then. That’s because it’s one aspect of your business that depend on trends. In order to draw in the right people to your business, you will have to update your goals and determine the right strategies to attaining them.

It’s a simple matter of updating your SEO keyword list and coming up with content to generate plenty of engagements that will favor your bottom line. You also need to reassess your marketing strategy, drop under performing components, and focus your resources on those that provide the results you want.

3. Deal with legal risks

Anything can disrupt your business operations, but none have been more costly than corporate litigation. Anything from liability collections to corporate governance issues can drain your business cofers if there’s an obvious lack of preparation.

For this, you will have to hire a legal expert that specializes in commercial law to support you in protecting your interest. At the end of the day, your bottom line will remain intact after you have ironed out the legal issues you needed to address.

4. Reinforce your cybersecurity

Every year, cyber attacks have caused millions in losses to businesses in the US alone. As technology becomes increasingly sophisticated, it’s important that entrepreneurs invest in multiple layers of cybersecurity and protect their data.

By implementing a VPN infrastructure and upgrading their cyber defenses, businesses can greatly reduce their vulnerability to data breaches that could inflict a heavy toll on the bottom line.

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7 ways to find your target audience online

You have set up your social media pages for your online marketing and you need to drive your target audience to your social pages.

Finding your target audience requires you to put yourself in their shoes, understand what it is they need and be the solution provider.  People want a solution, not a product.

We will give you 7 key pointers on how to do this.

1. Understand your target audience

Develop a persona for the customers you are targeting, In fact, personalize this person. Look the following example:-

Name – ElizabethAge – 35 yearsMarital status – Married for 10 yearsChildren – 2school going childrenWhere does she live – in a townhouse on the outskirts of the cityWhere does she shop – Walmart, Amazon and convenience stores. Occupation – stay at home momKey concerns – her children and husbandWhat are her needs – convenience and functionalityPossible social media use – Facebook, Pinterest, and Twitter;which is great for people who look for deals, reviews, and coupons.

Once you have a clear understanding of your target audience it makes it easier to find the appropriate channel to use and to tailor messaging that reaches them. You will need to develop at least 3 personas because you cannot target one person in your marketing campaign and see the common trend that you can capitalize on.

If you are targeting businesses you will need to do the same but take into account information like type of company, the number of employees, revenue, who the decision makers are and what channels they use to get their information.  

Simply put, a great persona profile answers the 5 W’s – Who, What, When, Where and Why.

2. Start with your network and do your research

You have friends on social media, your friends have friends who also have friends…. reach out to your networks and ask them to invite their friends to like your page. You can also buy automatic Instagram likes from igAutoLike or run campaigns to grow your online community. Facebook page insights, Twitter and Google analytics will give you great insight into the networks you have, see how you can extract the information and use it for your own good.

You may also need to get a little sneaky and find out what your competitors are up to, who do they talk to, how do they talk to them and what can you do differently.

3. How can you make a difference in their lives?

Be clear on what you are bringing to the table. Why would a customer come to you as opposed to going to your competitor? Is it superior quality products and services, is there a niche you have discovered, do you have additional things you are offering that your competitors don’t?

If you saw a gap in the market, be the person who will address it and tailor your messaging to shout this fact. Don’t fall into the trap of not having anything new or unique because you won’t be able to compete with the more established businesses on price.

4. Content

Make your content relevant to the customer. Let it answer their questions instead of providing generic information that adds no value. For example, Elizabeth would want to know how she can reduce the time she spends on housework or where she can get the best deals when she wants to do her shopping. Knowing your educational and professional background, while good to know, won’t help make her life easier.

Monitor what you post to see what people like and what they don’t like. There are many online tools you can use to do this including Google analytics. Once you know what people like to read or see, you can tailor your future posts appropriately.

5. Do surveys

Do not assume you know what people want. Learn from them, involve them in the process, generate conversations that will lead to great insights that you will use to make your online presence stronger and more relevant.

You can also use tools like MailChimp for regular communication, you can schedule emails to be sent to your subscribers every two months or quarterly asking direct questions like what they would like to get more information on or areas they would like addressed.

6. Engage with your followers.

One thing that makes people unsubscribe is lack of engagement with the owner of the social media page. Make sure you closely monitor your pages and respond to queries or comments. Yes, even the hurtful or mean comments.

Participate in relevant groups; you can pick a lot by engaging with the different audiences,it will give you a better understanding of what they really want.

Do mini polls on interesting things even if unrelated to your business. The whole idea is to keep people engaged with your pages.

7. Do not assume anything

Assumptions can hurt a business. People are different. Yes, you could share certain similarities but each individual is unique. Their range of knowledge could be different from yours;they may not care about you or your brand and may not know half the things you are talking about. Let data guide you on what you tell your audience, provide as much relevant content as you can without being a know-it-all bore.

Use engaging language and welcome their input.

Conclusion.

You have taken the time to know your audience and are ready to create good content that will make people engage with your social media pages.

Remember to create content that focuses on their needs and interests. Put together a list of commonly asked questions that you have generated from the social media pages and emails. Tell them how your brand will help them take care of whatever is troubling them; they want to be told how the product will make their lives easier not how great the product features are. 

Finally, guide them to a ‘call to action’ for instance subscribe to our YouTube channel or follow us on Instagram. This way you will be able to build your social media community and have more people engaging with your pages.

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Avoid Dirty Office Air with an Air Purifier

Working in an office often involves sharing space with many other people for long periods.This can lead to poor air quality in the office, as it’s easy for allergens and pollutants to build up quickly, possibly making employees ill and leading to a loss in productivity.

An air purifier may help; https://www.hereon.biz/office-air-purifier/ has all the information you need to find the right one.

How Air Purifiers Work for Allergies

An air purifier that has High-Efficiency Particulate Air (HEPA) filters should be able to remove 99.9% of pollutant particles in the air, including dust particles that can irritate the throat. Even a non-HEPA filter should be able to manage dust. But then, you should still clean desks and other furniture regularly, as air purifiers can’t do this for you.

HEPA air purifiers are also the best option for people who suffer from allergies. Allergen particles like dust mites and pollen can be very small, and HEPA filters can capture much smaller particles than other air filters and purifiers.

Location, Location, Location

One of the most important things to consider when installing an air purifier in an office space is where to put it. Not only should it be placed somewhere where it can be stored safely away from potential damage, but it should also be set somewhere with the right amount of space around it on all sides – the top and the front. This allows the purifier to take in the maximum amount of ‘dirty’ air, as well as to make sure the cleaner air it releases can circulate properly. Air purifiers should never be tucked behind furniture or below shelves. It may be out of the way of your office furniture, but it won’t work as well. You also shouldn’t ever place an air purifier in a corner, or right up against a wall.

This can make finding a good spot for your office air purifier challenging, especially in smaller office spaces where it can be harder to balance getting the right airflow with the office layout that you need. It’s a good idea to think about any hotspots for pollutants. An example is if you have co-workers who take regular smoke breaks. You might want to put the purifier somewhere that will limit the amount of smoke and its odor that the rest of your office is exposed to.

Keeping Your Office Air Odor-Free

As well as removing pollutants and dust from your office environment, an air purifier canal so help to eliminate, or at least reduce, nasty office odors that can crop up when you have a lot of people sharing a smaller space. If there’s a specific source of the smell, keep the air purifier as close to it as you can to have the best chance of getting rid of it. A carbon air filter or purifier is a good idea, as carbon does a great job of absorbing and trapping odor. Zeolite is another mineral known for being a good odor-absorber.

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Six Tips to make your Start-up a Success

If you are just about to start your own business, there is a lotto learn. Taking charge of an entire organization is quite different from working as an employee. That should not put you off though. In fact, running your own business allows you to work doing something that you are enthusiastic about while having more flexibility in your personal and working life.

For any new entrepreneur starting out then getting the right advice is crucial. That will help you to learn from the mistakes that others have made while accessing the knowledge that you need to succeed. In life, it is better to learn from the pitfalls that others have experienced to know how to avoid them yourself.

Tips for start-up success

Ensuring that you have the knowledge you need before you begin trading is crucial to make a business work. It will help you to avoid any silly mistakes that could cost you money.

Here are some useful tips to help your start-up become a roaring success.

Use a venture capital company – one great tip for helping you to get started and to succeed is to use a venture capital company. These are specialist companies that can provide the investment needed to set-up and start trading. With start-ups, the cost of hiring premises, hiring staff and buying stock can be a major financial problem. You could try a bank for help but they are often unwilling to lend to new entrepreneurs with no previous track record of successfully running a business. US Venture Partners and other venture capital companies provide an easier way for new start-ups to access the capital they need to set-up and begin trading.



Hire the best staff around – the team you have working for you will be the driver of your success. Top-class staff will provide atop-class service to your customers and will be easier to manage. That not only makes your job simpler but also means you will retain customers, attract new ones and simply make more money. Even if it means paying a little extra in salary or bonus packages, it is worth it.



Build your brand with marketing – modern business is all about your brand. The issue for start-ups is that they do not really have one when they begin.You will know what your business is about of course, but the general public will not – unless you tell them. A positive brand image will stick in the public mind, so they will think of you first when needing the services you offer. A great way to build your brand is by using digital marketing strategies like social media marketing and content marketing. Both those methods enable you to engage with millions of consumers globally to build your brand while establishing your company as an authoritative voice in your field.



Do not forget to network – while online marketing strategies are superb for B2C marketing, physical networking is vital for other reasons.It is great at engaging with other businesses in your sector to work with or to get work from. There will be at least a few business groups in your local area which you can join to network through. As a start-up to do that is recommended because it will get your name known by other companies in your sector and create access to opportunities you would not have had otherwise.



Look after your cash flow – another very important tip for any start-up is to keep a close eye on cash flow. Very often, a new company will go out of business because it simply runs out of money! You should keep a close check on what you spend, what expenses are being claimed by staff and always have some surplus money in your business account for emergencies.



Credit control is vital

Along with looking after your spending, you should also take care to get paid for any work done or goods sold as soon as possible. That might sound obvious but so many start-ups fail because they collapse under the weight of debt they are carrying for others. Make sure to issue invoices promptly and also chase them up if unpaid! For those in service sectors, it can be wise to ask for half the fee upfront and then the remainder after the job is completed.

Start-up success means never stopping

It is reported that 8 out of 10 businesses fail in their first 18 months. To avoid joining that statistic, the above tips are valuable. Once the business is established you need to constantly move forward and look for ways to grow your business. Doing that will ensure that you succeed as a start-up and will go on to create a fully-fledged business that will thrive for years to come.

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3 Ways to Break A Plateau In Business

(Image Courtesy of Pixabay)

When you’re in business for yourself, it’s not uncommon to reach a plateau. These are points where it feels like growth is becoming stagnant and there’s nothing that you can do to get that growth to continue in the right direction. While these plateaus may be frustrating, they are not the end-all-be-all. Growth is still attainable, you just have to think outside of the box. Today, we’ll talk about3 ways that you can go about breaking the plateau in your business.

Plateau Breaker #1: Redefine Your Offering And Increase Your Prices

Often,entrepreneurs will build themselves into a box by offering services at relatively low prices. The truth of the matter is that while price competition may be a way to break ground with your business, at some point, you’ll feel the headaches of low prices. At the end of the day, if you charge low prices, you have to bring on large amounts of customers. This will lead to issues with customer service as VIP service simply can’t be provided to thousands of customers at the same time.

Successful and renowned entrepreneur, Russ Ruffino created a multi-million dollar Inc. 500 listed business by thinking outside of the price competition box. Instead, Ruffino charged more for his services, making it possible to provide the services that he wanted to. He also noted that those who paid more for the service were likely to get more out of it as they were more likely to follow through with their side of the purchase.

Sometimes, it’s a good idea to set back and consider what makes your product service valuable and creating marketing campaigns around these high value aspects of your product or service. By focusing your efforts on high value transformation, rather than information about your product or service as a whole, chances are that you will attract customers that are willing to pay more, breaking your plateau.

Plateau Breaker #2: Automation

When you’ve hit a plateau in business, it’s often the result of the fact that there are only so many hours in the day that work can be done. Entrepreneurs often find themselves juggling tasks in an attempt to get as much done as possible.Unfortunately, one valuable tool is often overlooked. That tool is automation.

Think about your sales and fulfillment process. Is there a part or two in this process that can be automated, but is not yet? This can be your plateau breaker. At the end of the day, adding automation where it fits in business will do multiple things for you. First and foremost, it will free up time for you to focus on growth. Moreover, automation alleviates the human error issue. So,human error will no longer lead to time loss either, opening the door to even more opportunities for growth.

Plateau Breaker #3: Become A Risk Taker

When an entrepreneur first launches his or her first product, service or company, chances are that they’ve taken great risks to do so. However, over time, as we find success, our willingness to take risks starts to diminish. This, in and of itself tends to lead to plateaus in business. Many are held down by the fact that they are no longer willing to step out on a limb and see what happens with a new marketing tactic due to fear of losing the growth that they’ve created.

The truth of the matter is that whether you are in the beginning phases of business or you are a veteran, the willingness to take a risk is always important in business. Risking money and time on marketing strategies could lead to loss, and that loss can be scary. However, on the other side of the coin, taking these risks can also lead to compelling growth that will help you to break through your plateau.

The Takeaway

The fact of the matter is that just about every business will eventually run into a plateau. However, getting over that plateau may not be quite as hard as you think. Taking a moment to step back and re-evaluate your marketing efforts, think about automation, and consider taking on larger risks could mean the difference between a continued plateau and growth!

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How much can accountants expect to earn in the US?

A career in accounting in the US can be a very rewarding career choice. Median salaries generally come in above the national average year on year and it is even seen as a ‘recession proof’ job.

Why? Well, when companies are earning, and the economy is booming, they need audits. When the opposite happens, they still need those audits. Everyone has to pay taxes and despite the volatility of the financial markets, those who make a career out of finance can rejoice in some job security.

So, what exactly can you expect to earn? That depends on experience, seniority in your position and any accreditations and qualifications you hold. The top 10% of accountants earned as high as $122,000 in 2017, with partners earning even more. Pay rises are also abundant; the average accountant can expect to receive a pay rise of 3-4% annually.

Education Matters

According to Glassdoor, the average entry level salary fora US based, entry level accountant comes in at around $45,000 depending on the company. Well known firms such as Deloitte reported higher salary levels than smaller businesses. This amount is based on a graduate salary, straight out of college with no additional accreditation’s.

For those who have done the CPA exam, a much more lucrative salary awaits. On average, CPAs earn 10-15% more than those who do not take the examination. Average salary information from CPA AIS shows that a CPA would be looking at a salary in the range of $52,000 to $87,000 with1-3 years of experience and $66,000 to $110,000 with 4-6 years experience. If you can make it to a management level, you can expect to earn $76,000 to $147,000 with over 7 years experience.

Location is Key

Location plays an incredibly important role on how much you will earn. Tech hubs such as San Francisco are notorious for paying much higher salaries due to the cost of living there. So,which city should you head to? US News reported that San Jose and San Rafael in California were the top paying cities for accountants in 2017.

Not into big city living? Even non-metropolitan areas such as those in Northwest Virginia have a salary to rival that of larger cities. Accountants there can look at earning upwards of $106,000. If you can brave the cold, southern Alaska averages just short of the $100k mark.

Industry is a Factor

According to industry reports, Pipeline Transportation and the Education sector could see you earning the most. Or, if you can bag yourself a contract with the US Department of Defense you could be looking at a starting salary of over $80,000 per annum. Government accounting jobs are generally very well paid in a range of roles.

The size of the company will also have a huge impact on what you can expect to earn. Larger organizations obviously have a much healthier budget than smaller, more niche firms. Though they are much more competitive than the little guys, securing a job in the ‘Big Four’ will mean rigorous interviews, strong experience or education and unique qualities that will separate you from the rest of the pack, so it’s worth researching how you can stand out from the crowd.

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4 Reasons why it is important to invest in Eco Friendly Construction

More and more people are starting to express interest in purchasing eco-friendly houses. If you are a potential homeowner looking to invest in property, consider doing so in one with eco-friendly construction, as well. Experts think of green homes as sound investments. Home owners tend to agree with them. That’s because a green home has many significant advantages over a traditional home.

We mention some of those benefits below:

1.     Higher sustainability and longevity

An eco-friendly home is built with materials that are guaranteed to last much longer than the ones used in making conventional houses. That means a green home would age better. The longevity of a green home is matched with its high sustainability. Such houses won’t require much in the way of repairs for along, long time. That means you don’t have to worry about spending money on renovations repeatedly. The more money you can save, the longer you’d hold onto your home!

2.     
More savings

Let us start by saying that you will save money if you are having a green home constructed. That’s because the primary reason for building these houses is that they aren’t harmful to the environment. To that end, often recycled or secondhand materials are used during the construction of an eco-friendly home. That could lower the cost for you!

Consider another important point. A green home is planned to conserve energy. Therefore, it is replete with features like panels made from thermal-heat-retaining gypsum and those for capturing solar energy, metal roofs, and tankless water heaters. Initially, you may feel as if these improvements are unnecessary and even costly. But the truth is once you have them installed, you would soon begin saving on the energy bills.

Green homes can make use of alternative ways of energy production (solar panels) and energy-efficient options (gypsum panels) that will bring the cost of utilities down. That’s because they are built to have minimal effect on the environment.

For that to happen, these houses would need to be as self-sufficient as possible. By producing their own energy – whether fully or partially – from natural resources, such as wind, light, and earth,sustainable homes lower their carbon footprint. The result would be a home –and the family that lives in it – that consumes less energy and produces less waste.

In 2017 alone,the United States produced energy equivalent to 87.5 quadrillion Btu by using fossil fuels. This fulfilled almost 90% of the U.S. energy requirements. As we all know, fossil fuels like coal, gas, and oil, are non-renewable resources.Even if we set aside the harmful effects they have on the environment, we stand the chance of running out of these resources. What happens then?

Therefore, if you are looking to own a house, don’t just look for Construction Companies Near Me. Instead, look for ones that specialize in eco-friendly construction.

Source



3.     Better economically

Green buildings aren’t just a smarter economic choice for the individual homeowner. They are also good for the global economy. This US GBC study showed that as of 2015, green construction outpaced conventional methods of construction across the United States. It has also created over two million jobs in the country! Construction of these buildings has earned the country’s laborers $134 billion. More than that, the projections for this year showed that there would be a further increase of 1.1 million jobs that will bring in $75.6 billion more in wages.

Source



4.     Increasingly popular

As we mentioned earlier, the concept of green homes is becoming popular amongst new homeowners. This study showed more than 80% of global consumers who participated in it would make sacrifices if it led to environmental conservation. An almost equal number of respondents said they would even purchase unknown brands if the sense of corporate social responsibility were stronger for the businesses producing them. Similarly, this survey showed that more than 60%of Millennials try purchasing as many eco-friendly products as they can.

Moreover, by next year, we will be seeing twice as many green-certified buildings as we do today. The certifications that look to standardize eco-construction are largely the work of two major players. Around the world, the Leadership in Energy & Environmental Design Council (LEED) and the Building Research Establishment Environmental Assessment Method (BREEAM) lead nations in this regard. The latter is said to be involved in more than 82,000 commercial projects that are taking place in 162countries. Ever since BREEAM launched in 1990, it has certified more than 500,400 developments worldwide.

The future belongs to eco-homes, and it is time that you started looking into green buildings, as well. As an eco-warrior, it isn’t enough to recycle to do justice to your role. Choose a construction company that specializes in eco-friendly planning and construction. They will have the expertise and skill necessary to provide you with green but cost-effective solutions.  

ABOUT Alycia Gordan

Alycia Gordan is a freelance writer who loves to read and write articles on healthcare technology,fitness and lifestyle. She is a tech junkie and divides her time between travel and writing. You can find her on Twitter: @meetalycia

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Tom Haughton, Winnipeg Executive, Speaks to Cultivating Teamwork and Continually Learning

Whether you work in real estate, finance or retail,there are a few common denominators for success. Winnipeg’s Tom Haughton, whose career has crossed several avenues, shares the overarching principles he has followed in his 20-year professional life. As vice-president of My Place Realty (MPR) in Winnipeg, Manitoba, Haughton works to provide quality, multi-family homes that people are proud to call home. Before he began leading MPR, Haughton served as the CEO of Global Drug Supply, a mid sized international business corporation based in Barbados.

Q: Tell us about your professional journey and your niche area of expertise.

Tom Haughton: I have always been interested in real estate from an early age. With my Dad being in the Air Force, we moved homes every four years. It was always exciting looking for the perfect home in the perfect location. Of course, swimming in the hotel pool was a major highlight.

In college, I earned a Bachelor of Commerce degree from the University of Manitoba,concentrating on human resources and marketing. Since then, I have spent 20years training and developing teams to run various departments within retail and wholesale operations.

At My Place Realty, I work hand-in-hand with my senior management team to oversee everything from construction management to finance to property management.

Q: What skill is central in all the positions you have held?

Tom Haughton: I would say learning. It never stops—it should be a lifelong pursuit. I am always looking for new ways to enhance my skills and abilities. I have done so through coaching sessions, self-development seminars and more. Thanks to these training opportunities I have been able to build upon my capabilities and talents.

I also believe open communication with my team and business relationships is critical for success. Listening actively is one of the most important components of open communication.

Q: How do you think a leader can be most effective?

Tom Haughton: Be visionary. Vision is in some ways a metaphysical word, but in business leadership, it has a practical application. Whether you have employees or you work out of your home, you are a leader. By knowing what motivates you and through clearly identifying your purpose, you set the tone and atmosphere for your business.

This is a problem for entrepreneurs in the start-up phase, because they are required to wear so many hats. It is easy to get lost in the minutiae. But ultimately, you must shake off the actions that don’t fulfill your purpose, so that you can hone in on what does.

Q: How important is it to cultivate teamwork?

Tom Haughton: From my experience, creating a team of members who truly recognize the strengths of each other and work together to achieve our common goals is imperative to success in any business undertaking, regardless of the industry or market.

At My Place Realty, we work hard to create a cohesive team that not only works well with each other but believes in our central mission statement: matching quality multi-family homes with our tenants.

Q: What do you most enjoy about your role?

Tom Haughton: Investing in people. The companies I have run over the past 20 years have always been leading employers offering job stability and careers to our team members. We have always focused on our social responsibility and giving back to many amazing charities.  I enjoy giving back to help improve the lives of others.

I also enjoy challenging my senior management team and myself to get out of our comfort zone, brainstorming, doing research online and trying to be forward thinking.

Q: What are some final words of wisdom for young entrepreneurs?

Tom Haughton: Build strong business and social networks to share creative ideas and valuable resources,and to find the mutual support you’ll need. Networking is fun and can be beneficial to your career. Also, to be successful, you need to take risks and trust in yourself. Finally, take time in life to travel, expand your horizons and make time to rejuvenate yourself. Without health and happiness, wealth is worthless.

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4 Advantages of Gaming in NZ Dollars

Gambling is a liberalized industry in New Zealand. This liberalized industry raises more than NZ$ 2.034 billion yearly making it one of the most lucrative industries in the country. For example, the cheese industry in the country is worth NZ$1.9billion only. Interestingly, gamblers in New Zealand focus on four activities which are namely horse racing, lotteries, pokies, and casinos. Today, online casinos are becoming more popular than ever as people seek the conveniences of playing on them. However, many New Zealanders play on these online casinos with foreign currencies. Here are 4 advantages of gaming in NZ dollars.

1. Stable Currency

New Zealand has a stable economy, which ranks at number 53 worldwide nominally and 68 when measured by power purchasing parity. The country has strong ties with other economies as well including the United States, China, Japan, and South Korea. This robust economy has a positive impact on the New Zealand dollar, as do these beneficial international ties. More specifically, they stabilize this currency. In other words, it does not fluctuate easily.Therefore, there is little or no foreign exchange risk when you are gaming in NZ dollars. Instead, your winnings are secure because the value of these earnings remains stable over time. This stability arises because the NZ dollar is a resilient currency backed by a strong economy.

2.  Widely Acceptable

What is the point of winning when you cannot use your winnings because they are not acceptable to many people? Remember, accepting a currency is a voluntary act. Therefore, some people and even banks may refuse particular currencies because of one reason or the other. Gamble with a currency that is readily acceptable worldwide. For example, did you know that the NZ dollar is the official legal tender in five territories? These territories are the Pitcairn Islands, Tokelau, the Ross Dependency, the Cook Islands, and Niue. Did you also know that the NZ dollar is one of the top ten traded currencies worldwide? In 2013,it accounted for 2.0% of the turnover in the global foreign exchange market.



3. Keep All Your Money

Most gambling institutions charge a fee when they convert your cash from one currency to another. That means you will lose some income if you gamble in foreign currencies and then convert them into NZ dollars. Failing to convert them into NZ dollars means you will have a hard time purchasing goods and services in New Zealand. Remember, business owners in New Zealand accept the NZ dollar more readily in exchange for goods and services than they do other currencies. Therefore, converting your winnings into NZ dollars is inevitable especially if you live in territories that accept it as a legal tender.Unfortunately, this conversion leads to a reduction in winnings depending on the prevailing exchange rate and the fee charged for that exchange.

4. No Red Flags

Imagine winning millions of dollars in foreign currency and then converting them into NZ dollars. The government would take note of such transactions. Inmost cases, it would freeze them until it ascertains that money laundering schemes are not taking place. At the same time, constant winnings of huge amounts might attract the government’s attention. However, explaining these winnings would be a straightforward process because the government can track the flow of NZ dollars quite easily. Therefore, look for online casinos that accept NZ Dollars so that you do not suffer the inconvenience of bank bureaucracies or unnecessary government attention.

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Being Your Own Boss – Tips for Starting Your Business from Scratch

Starting a business from scratch is a lot of hard work, but no amount of good ideas will make it successful. For that, you need to be willing to listen to people who have been in your shoes plenty of times before you. Their advice is invaluable, and you should pay attention to lesser-known tips like these.

Excuses, Excuses, Excuses

What’s your excuse for not starting your business right now? Everyone has one. Being your own boss is scary, but it requires addressing your inner excuses to get started. If you’re serious about focusing on your business but keep finding reasons not to get started, address them. Stop letting them pile up. Find the answers to these excuses instead of letting them be door stoppers on your road to success.

Listen to Other Business Owners

Listen to the people around you when they offer both criticism and praise. It can be hard to hear from family that your idea might not be as great as you think it is, but this kind of feedback can help prevent you from making a costly mistake. Write their feedback down and keep notes so you can address it later. This sort of feedback will help you when you’re making a detailed business plan to attract investors. Ask your listeners to be honest with you about your idea and accept any criticism they offer without being offended.

Offer Solutions

When starting your own business, instead of thinking of something to sell, think of a problem you want to solve. You can gain a solid customer base by offering solutions to customers who already need your help. Most service-based businesses are based on that principle. Electricians, plumbers, tree removers, babysitters, and freelance writers all offer a service to their customers. You should be able to answer why people need your solution. Plenty of small business owners start their businesses because they ran into a problem that no one had developed a solution for yet. Keep that in mind when trying to find your target customer.

Keep It Simple, Stupid

The KISS method is your best approach to starting your own business. Don’t let your basic idea snowball into something that you can’t manage. That’s one way that newbie entrepreneurs set themselves up for loss. Keep a narrow focus that will let you test your business idea in the community. You should provide a good or service that is reliable and fulfills promises to customers to help exceed their expectations.  Returning customers are one of the core tenants of keeping a small business running and successful.

Know Your Cost

You should have a sound business plan and know exactly how much it will cost to get started. Every single expense should be calculated so you can determine the true cost of running your own business. Once you have what you think it will cost, take that number and quadruple it for the real cost. There’s no way you can account for everything, so accounting for unexpected costs is your next best friend. Insurance costs are often left out of the equation, even though they’re necessary for any small business. You can find the most affordable life insurance rates by shopping around before committing.

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