Mohit Tater's Blog, page 681

Data Unification Is The Key to Streamlined Business Operations

Ensuring efficient data flows and process transparency is the key to keeping enterprise costs under control while making sure the business can demonstrate compliance to applicable data laws.

However, numerous processes impact data, most of which affect a company’s ability to unify it. As a result, several businesses deal with data management problems on a regular basis and have seen all imaginable scenarios of deteriorating data quality.

Econsultancy cited a study by Experian Data Quality that revealed inaccurate data has a significant impact on the bottom line of 88 percent of businesses, and the average business loses 12 percent of its revenue because of it.

But the hidden cost of poor data management may be greater than the 12 percent lost revenue. 21 percent businesses revealed they suffered reputation damage, and 28 percent who experienced problems with email delivery revealed their customer service took a hit.

So how can you avoid these issues? More importantly, what can you do to unify data processes and streamline business operations? Here are some options to pursue:

ERP software

There is an extensive list of ERP benefits and data unification is one of them. At the heart of the concept of enterprise resource planning is data. Sharing data across silos such as business development, marketing, sales, and customer service promotes collaboration throughout the firm. The other picture of widespread data access is seeing who can edit and view the information. ERP software has intrinsic controls to ensure data security.

More benefits of unified data comes from having a central input system. That’s because merging data from multiple information systems often results in conflicts between sources. On the contrary, having one repository of information promotes the consistency, accuracy, and security of your business data. Another simple benefit of an ERP implementation is reduced costs.

Data analyst intern

A data analyst intern will cost less than hiring a full time data analyst. These individuals can work with the IT team/department to understand the variance and distribution of data – because data may not be normally distributed. With data unified around management best practices, your team can integrate clean data into your integration workflow. Also, pushing processes from top to bottom in the database will improve performance.

It’s also a good opportunity to remove invalid data based on the analytic method recommended by the data analyst intern, and enrich data quality by grouping together data that was previously scattered in silos. Moreover, it’s possible to prepare data for transforming or merging source data from different tables into a wide table – known as the ABT (analytical base table). Expect to experience faster workflows and more accurate data-based decisions.

CRM software

CRM software would integrate easily into your ERP software, organizing processes required to unify data. When implementing CRM, it’s critical to understand how master data management will be used to create a 360-degree view of the data (needed to unify data). Therefore, data not only comes from IT, but from platforms and technology that house it.

Data can also be controlled via data governance. For instance, someone can be given the role of a data governor, and asked to verify data before it enters the IT database. Also, libraries can be used for key data fields. This would allow for stricter control of data quality and result in cleaner data creation that is unified in the database.

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5 Benefits of Virtual Office for Startups

Tech industry is buzzing with new players and great new startups these past couple of years. Unfortunately, just as new startups are founded, some are quitting the market and failing. As many experts will tell you, the key to startup success is efficiency; a high level of efficiency nonetheless. Virtual office is a good place to start a startup. There are a lot of benefits a virtual office can offer to newly established startups, but we are going to focus on the top 5 in this article.

Cost Efficiency

Nothing beats renting a virtual office when it comes to cost efficiency; well, nothing except starting in your own backyard of course. The best virtual offices in Montreal are actually very affordable. It is also very easy to rent one; you don’t have to worry about investing in furniture and other equipment.

Virtual offices are also very efficient due to the space-on-demand service they usually offer. Whenever you need more space, or an extra meeting room, you can rent them just as easily. As your startup grows, you can have more facilities added to your plan.

Representative Business Address

Image is everything in today’s competitive market. There are hundreds of startups established every day, so staying ahead of the competition requires more than just good products or services. You need to maintain a strong, representative brand and corporate image in order to attract users and investors alike.

When you are searching for bureaux virtuel Montreal, find one that is perfectly situated in a prestigious address. This will not only boost your startup’s image, but also make it easy to host meetings whenever necessary.

Additional Services

Let’s not forget that virtual offices come with additional services as well. Reception services is one of my favorite. You too can have a trained receptionist accepting calls and mails. Even better, you can have your own business phone number, complete with call forwarding, voicemail and answering services.

Meeting rooms are also part of the virtual office service package most of the time. You can host meetings in a luxurious, representative meeting room, complete with free internet access and all the equipment you need. The meeting rooms usually come in different sizes too, comfortable for anything from a small meeting to a small conference.

Immense Flexibility

To stay competitive, your startup needs to be as flexible as it can be. This includes being able to upgrade to a serviced office or have more space to use whenever necessary. Find a virtual office service provider that also offers executive suites and serviced office space and you will be able to expand and grow without ever having to move to a new address.

This particular benefit makes way to good….

Continuity

Yes, continuity is important. Having to move to a new space every several months just to keep up with the growth of your company is not good for business. You will have to notify clients, make changes to your letterheads and deal with other nuisances that may hamper further growth. These issues can be avoided by opting for a virtual office service that suits your needs perfectly.

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Why Cloud Is The Lifeline For So Many Modern Businesses?

Businesses have always been evolving and expanding, and the digital age has literally helped connect entrepreneurs with customers, effectively removing the boundaries of place and time. Cloud computing in particular, has played a vital role the transition of local businesses in to the global paying field. IT has enabled the creation of newer more efficient business models, accelerated complexity and depth of innovation, and literally changed the way we do business. The potential benefits of businesses opting for cloud go way beyond convenience and the environment. So, let’s take a look at why cloud computing is so important for modern businesses.

Security

Theft and loss of IT equipment is a part and parcel of business, but though the equipment itself is replaceable, the sensitive data held within them is usually not. Cloud computing protects businesses from such threats by eliminating the need to have your own physical servers, giving you greater anonymity and security. The best part is that if your systems are connected to a cloud, you can physically erase the data within a lost laptop or hard drive.

Flexibility

Cloud computing is helps to deal with the problem of fluctuating demand for bandwidth, as users can easily increase or scale down their cloud capacity depending on their needs and requirements. This is the kind of flexibility that one simply won’t find with physical servers. So, it’s really no surprise that flexibility is the number one factors that drives businesses to adopt cloud technology.

Recovery

 Not only does the cloud offer high levels of security for your business’s data, but offers a great way to ensure full data recovery in case of unforeseen circumstances. And since it’s not feasible for smaller businesses to invest in comprehensive recovery management software, cloud computing is a literal no-brainer. Cloud-based recovery solutions have already saved so many businesses from wasting time in trying to recover lost data.

Automatic Updates

Since cloud computing servers are operated and maintained by third parties, a business does not need to worry about security or firmware updates as they will be automatically downloaded and implemented. Having a system that takes care of itself can eliminate the need for an in-house IT team altogether.

No Capital-expenditure

Almost every business decision is made to comply with a budget, and cloud computing completely eliminates the need to invest in expensive servers and related hardware. Most cloud computing companies offer subscription-based services that can be fine-tuned according to your budgetary needs; just another reason why you should adopt cloud computing for your business.

Enhanced Collaboration

 Imagine a situation where in different members from different departments of your business can access, share, and even modify data at any place and time. This won’t just result in colossal time savings, but will also help you build a better business.

Remote Access

Another huge advantage of using the cloud is that you can work from anywhere- all you need is a computer and an internet connection. A few comprehensive cloud companies even offer mobile apps that allow you to work on tablets or smartphones, while being connected to your data the entire time. The cloud has single-handedly enabled employees to telecommute effectively, allowing them to achieve work-life balance.

Document Control

The greater flexibility of work through remote access and document sharing has also led to a greater need to ensure documents are kept under your control. Earlier, employees had to ping-pong mail attachments, and could only work on them one at a time. This more than often led to a confusing ocean of emails; another problem that gets solved with cloud computing. Since all the data gets stored at a central location, everyone who has access to the server will see exactly the same thing, in real time. This transparency will only further improve collaboration efforts, as well as your business’s bottom line.

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Direct Marketing for the Self-Employed

When you’re self-employed, every dollar matters, and marketing can be expensive. However, direct mailers, although often overlooked, remain fairly inexpensive and have one of the best outcomes of any other marketing strategy. A few reasons to consider using direct mailers in your upcoming marketing campaign include:

Targeted Marketing

Email marketing is a great way to reach the masses, but that doesn’t mean that it has any kind of strategy when it comes to who is receiving your marketing pieces. Don’t waste your time or marketing budget sending out hundreds of emails to people who aren’t even relevant to your market. With direct mailers, you can pin point specific households and neighborhoods to receive your marketing. Your mailers are almost always relevant, and your information is more likely to be read because of its relevance.

Highest ROIs

Because direct mail reaches target markets efficiently, they have one of the highest ROIs in the business. This means that your hard earned dollars aren’t being spent blindly. So if you are interested in increased profits (and who isn’t?), use direct mailers to increase your client-base and to save money on marketing efforts. Once you expand, consider utilizing companies like Tension Envelopes and direct marketing services, for economies of scale.

Bypasses the Overstuffed Inbox

Inboxes are loaded with email marketing pieces. Depending on what a person has signed up for, there is a good chance that they receive 12 or more email mailing pieces a day. The amount of email marketing materials sent on a day-to-day basis has actually prompted email platforms like Gmail and Microsoft 365 to create Spam, Clutter, and Promotion folders to alleviate users. Once a marketing material makes it into one of those folders, you can guarantee that it will just be deleted without opening.

Direct mailers have less competition as paper mail has become more of a novelty in the past 5 years. Because connecting through text, phone, and computer has become so readily available, sending a letter or card isn’t as common. The novelty of receiving paper mail alone is enough to get a potential client to look over your mailer. In fact, a 2015 study conducted stated that individuals were more likely to read through the mail they received as soon as they received it, and were likely to do this every day.

High Level of Engagement

Most email marketing pieces are a one-size-fits-all attempt. They look similar, they act similar, and people know what to expect of them. Direct mailers, however, come in differing sizes, shapes, and weight, and offer higher client engagement. When a potential client receives a piece of mail, especially one that is different in size, shape, or weight, they are more likely to open or read it simply because it piques their interest. Also, because information can be customized to specific targeted markets, clients are more likely to feel like they are being spoken to directly, increasing engagement and appreciation.

Direct mailing is one of the most efficient and lucrative marketing products on the market. It trumps email marketing and gives potential consumers the personal touch they want. So the next time you’re strategizing your marketing campaign, factor in direct mailers.

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6 Financial Planning Tips for Salaried Professionals

Financial planning is required for every individual but it becomes more important for a salaried person who has a limited resource for generating income. Further, no matters how lucrative a paycheck is, the last few days of a month haunt almost every salaried person who hopes and prays that money creeps out from some unexpected places.

While financial planning helps individuals to manage different goals of life, a smart money management policy is the first step towards accomplishment of a bigger goal, such as home, and foreign trip. One has to proactively take steps to clearly understand various saving and investment patterns.

Being productive alone is not sufficient as one should also learn how to be efficient moneywise. The biggest benefit of salaried persons is that there is regularity in their flow of income. This feature can be used as a tool for planning systematically for future. As it is said, The early bird catches a worm, so start planning today for a secured future. This will take you an inch close to your financial independence.

Here are six financial tips that every salaried person should use.

Set your goals

You must have heard people telling you to do a lot of investment. They might give you 100 reasons for investment. However, what is your reason to invest? Every individual is different and so their need. A young professional who has just started a career, may invest for goals like a good house, to pursue an expensive hobby and holidays. If you are in the middle age- group, your goal may be to buy an insurance plan for the protection of your family , plan for children education, and their marriage purposes and for an easy retirement. Whatever be the reason, your purpose of investment must be very clear. Without knowing your goal, how can you plan to achieve it?

Manage your expenses

You cannot invest your entire earning as you need money to cover your daily expenses also. Money is something that you cannot cultivate. Obviously, you have to depend on your earning. It says, a person desire may be infinite but his wants are always limited. Whenever you think of a future goal that can be achieved with the investment, think about various modes and methods available for the investment and buy only those that have a great value in the future and affordable. No one bet on the dying horse.

Decide your budget

Stretch your legs as far as your blanket can go. You must have learned this proverb in your school days. It means, limit your spending to your earnings only. For a successful planning, you need a road map first. Deciding your budget means having a clear understanding of your earnings, spending, savings, miscellaneous expenses etc. You get a clear idea about the extent of investment you can do from your earnings and how can you stretch your spending. A budget would help you to spend your money judiciously achieve your financial goals.

Save as much as you can

Undoubtedly, saving is a good habit. The amount you save and the avenues where you save make you a smart saver. Overall, if you save by means that multiply your saving is always a smart move.

Diversify your investments

While investing, divide your investments  into liquid assets and fixed assets. Liquid assets like saving-account and small term investments give you freedom to draw money whenever you need, whereas, fixed assets is a reserve for your future goals.

Take adequate risk cover for life and health

Both investment and insurance are connected. While, investment helps you to save money for future, life insurance provides cover that helps your family during any unfortunate event when you will not be there for them. The amount of insurance depends on various parameters, such as your current income, number of dependents, and future goals. Equally prudent is to buy health insurance at the earliest. As you grow old, health insurance policy becomes costly. You can buy insurance policies online on a click of the mouse. However, make sure to compare different products before choosing the one.

 

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Life Insurance: How Important Is It?

Life insurance can be a difficult subject for many people. While some may disregard this cover as a waste of money, others prefer to have the peace of mind that their families will be protected no matter what happens. So, which side should you take? In this blog, we take a look at just how important this insurance cover is.

What is it?

Life insurance offers you a way to protect your loved ones in the event of your death. This type of cover pays out a lump sum or offers regular payments to your dependents if you’re no longer around to provide for and look after them financially. The amount of money paid out depends on the level of cover that has been purchased.

How much does it cost?

The good news is that life insurance doesn’t necessarily have to cost you much. Generally, the cost of your insurance premium will depend on a few variables, including  personal information such as your age, your health, your lifestyle and whether you smoke. Typically speaking, the healthier you are, the lower your insurance costs will be. For example, if you’re a relatively young non-smoker, you’re less likely to suffer from a medical problem soyour policy will be cheaper. How much you pay will also be based upon the amount of cover you want and the length of the policy you’re looking to take out. So that you can secure yourself the cheapest plan possible, you could browse online comparison and broker websites. These types of site enable you to easily review and compare a whole variety of policy options. For example, specialist insurance broker Chill Insurance allows you to tailor your search to fit your individual requirements and budget. If you do some thorough research and shop around, you should find that life insurance isn’t as costly as you may think it is. Spending a relatively small amount of money each month could help your family out further down the line.

Do I need it?

If you have dependents, such as young children, a partner who relies on your income or a family living in a house with a mortgage, you should think about purchasing a life insurance policy. If you think they wouldn’t be able to cope financially without you, it could be a smart move to make.

To ensure that your loved ones will be protected and to give yourself some added peace of mind, it may well be worth taking out a life insurance plan.

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Compelling Secrets to Growing Your Online Business Through Outsourcing By John Jonas

If you’re like a lot of people where I’m from, entrepreneurism is in your blood. There’s nothing better than being your own boss, setting your own hours, and forgetting that you’d ever heard that dreaded term “time clock.” And with the rapid growth of e-commerce over the past few years, it’s no wonder that Utah is a hotspot for internet businesses. With an online business, there’s no stressful rush-hour commute, no annoying co-workers, and it’s particularly ideal if you have a family.

I’ve been living in Utah for 10 years, and for many of those years I’ve been running an online business from home. As a husband and father, I’ve really enjoyed being able to work from home while having plenty of time to spend with my family. But although my business had been going pretty well for some time, my world was suddenly turned upside down a few years ago. My wife, then 7 months pregnant with our third child, was diagnosed with preeclampsia. The doctor told us she was at risk of dying if she did not get several weeks of bed rest.

I had just released a new software product, which meant even more than normal demands on my time, and now I needed to take care of my wife, children, and household in addition to running my business. If there was ever a time I needed to “clone” myself, this was it…but how?

That’s when I had a light-bulb moment that really changed my life. Not only that, it totally changed how I thought about business. I had already been outsourcing some work regularly to three individuals in the Philippines. So I sent them an email letting them know that I was not going to be able to work for the next few weeks. I needed them to do all of my work for me—basically to completely run my business. I needed them to do everything from managing my AdWords account, filtering my emails, managing my blog, fixing any website problems…the whole nine yards! And they did just that. In fact, they did it so well that I was able to work no more than one hour per week for nearly three months while my online business continued to do very well.

I had essentially replaced myself in my business. Prior to this, I’d been spending about 40 hours a week running my business. Now I was down to only one hour! I remember thinking to myself, “This is the missing piece!” I now have more than a dozen Filipinos working for me full time. By outsourcing the bulk of my work, I am able to maintain a highly profitable internet business while I work only about 17 hours a week. I could work much less, but found that I needed to work more to keep my brain stimulated.

It wasn’t long before others wanted to know how to do what I was doing. So, I began teaching people. I put together a website, ReplaceMyself.com, where I show people how to do exactly what I do. I reveal in my free online training just how incredibly inexpensive it is to hire someone in the Philippines to work for you full time. In fact, the average cost for a full-time employee is only around $200 to $450 a month, which is a solid middle-class income for someone residing in the Philippines. So, while that amount of pay may sound like peanuts to those of us in the U.S., it is actually a very nice income for a Filipino. It’s truly a win-win situation.

This method is working very well in Utah with entrepreneurs who have started using it. I was at a networking meeting with 18 other people awhile back. Out of that group, 10 had already put my recommendations to use and hired someone in the Philippines! They reported having success using Filipino workers, and are continuing to do so today.

Business owners and others in the Internet marketing industry have taken notice of the things I have taught and the success I have seen in outsourcing to the Philippines. Some of my pieces have been featured in online publications, and other entrepreneurs have interviewed me on their webinars and podcasts.

I recognize that there are many misperceptions about outsourcing. When many people think of “outsourcing,” they fret that “They’re sending our jobs overseas!” The reality is that most small entrepreneurs wouldn’t have U.S.-based employees because it’s just too expensive, especially in a down economy. It would be extremely difficult for most budding Internet entrepreneurs to be profitable if they had to use U.S. employees.

One of the key things I’ve learned is that hiring Filipino workers is absolutely the way to go for all your outsourcing needs. I have nothing but praise for the ones I’ve hired. They are extremely loyal, very honest, and super-hard workers. In fact, working for an American elevates the social status of a Filipino. Once they start working for you, they’ll never quit. From a business perspective, this is ideal because you only have to train them once.

In addition, Filipinos are highly educated, speak excellent English, and are very Westernized. Also, because Filipinos typically are not entrepreneurial, you don’t have to worry about hiring someone only to have him leave you and start his own online business once you’ve trained him. My employees can do any task associated with running my online business. For example, they can do everything from affiliate marketing, SEO, link building, social bookmarking, social media (Twitter, Facebook, MySpace, etc.) — anything I need done.

I firmly believe that if you have your own online business, you need to be the CEO—a knowledge worker. If you’re the implementing all the minute details, you’re wasting your educated brain. Don’t do the menial jobs; you can outsource those and focus on what you enjoy the most. I have found that this is one of the main reasons so many entrepreneurs fail altogether or fall far short of their income goals. By outsourcing the bulk of the work for a very low cost, you can get your business up and running much more quickly. In a very short time, it’s not only making enough money to cover your outsourcing costs, but it can be making a very nice profit for you.

I’ve been fortunate to have already taught thousands of people how to do exactly what I do, via my website, ReplaceMyself.com. One of the most rewarding things is when a student lets me know how my outsourcing techniques have literally changed his or her life. There are many small-business entrepreneurs in Utah I’ve helped successfully improve their online businesses through outsourcing. Since Utah has such a high bankruptcy rate, learning how to have a successful online business by outsourcing can make a huge difference for someone struggling just to make ends meet.

If you are interested in learning more about how to use outsourcing in order to have a successful online business, I invite you to visit my website, ReplaceMyself.com, and also my blog, JonasBlog.com. I provide a lot of free training on my site because I truly desire to see others finally have success in their online business.

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7 Tax Tips for Small Business

It’s not a sexy topic. My dad’s a CPA who had his own accounting business when I was a kid, and every year when tax season hit it wasn’t pretty. His hours became grueling. The stress was palpable. My whole family felt like we were doing taxes by proxy.

The whole stress factor is why it’s worth looking at tax tips.

Minimize stress. Anything you can do to alleviate problems and zip through filing taxes smoothly will minimize stress.

You need to save your valuable brain power for the valuable task of running your business at peak performance. And when you do that, it’s sexy—sexier than doing taxes, at least. But what isn’t?

Know the Affordable Care Act

Has your business been growing? You have until April 1 to take advantage of the grace period. Wait, what grace period? In 2015, if you had more than 50 full-time employees, or Full-time Equivalent (FTE) employees, you had to offer health benefits to 95% of your employees by 2016. The benefits have to meet a minimum requirement.

If you were an Applicable Large Employer (ALE) in 2015 and didn’t know it (FTE employees could have pushed you into large employer status) you’ll have to meet ACA requirements by April 1—or the Federal government will penalize you.

Know warnings on write-offs

You have to have extensive records to get the most out of write-offs. But there are other considerations. Were you a startup in 2015? If you didn’t sell anything until 2016, you can’t write start-up expenses off yet.

Did you make a decision to move your business and as a result you bought a more fuel efficient car? Did you take minutes? That car could be part of a write-off, but if you didn’t document the decision-making process, you can’t claim it (unless of course it’s an EV—but that’s not a business write-off, per se, it’s a tax credit). See the IRS rules.

Basically, don’t write anything off unless you’re certain you can. If you’re starting up in 2016, sell something by 2017. If you sell something, you can choose to deduct $5,000 for the first year’s expenses. After that, you can deduct applicable start-up expenses for the next 15 years.

Know the Home Office Deduction

Do you have a workspace at home? Chances are you can get the home office deduction. Here’s a list of qualifications:

Exclusive use – You must use the space only for your business; any other use must be the same as what you’d see at a regular office
Regular use – You have to use the space consistently each week
Main business space – You have to use the space to (at minimum) conduct administrative or managerial chores
Use exclusions – If the space is for a day care or storing business inventory, the exclusive use qualification doesn’t apply

You can calculate how much space qualifies in one of two ways:

Divide the square footage of your workspace by that of your house; or
Take the simplified option, an automatic $5 per square foot you use

In addition to the deduction for using the space, you can write off:

Direct expenses – Business phone lines, supplies, etc.
Indirect expenses – Part of utilities, home owners insurance, etc.
Interest and property taxes
Rent – If you’re renting the space, write off a commensurate percentage of rent


Know how to stay sane

Many entrepreneurs have to take a DIY approach to taxes because of budget constraints. If that’s the case for you, there are some important things to keep in mind:

Use advanced organization – Use apps and the cloud, digitize receipts, backup data, generally get away from a “shoebox” method of organization
Use software – There are plenty of options for cloud accounting software, which can reduce the tax headache a great deal
Be Zen about it – This involves not only embracing the agony of taxes, but developing a comfortable balance if you’re working from home
Balance taxes appropriately – You may want to expedite deductible expenses and defer income payments from clients, because you’re taxed on that income; but if you’re projecting higher income for 2016, deferring 2015 income payments may not be the best idea
Consider hiring a professional – A CPA just makes dealing with the IRS so much easier (too bad my dad’s retired)


Know about business retirement plans

Contributions you make to retirement plans are tax deductible. According to my dad, a small business owner can contribute up to $53,000 in a given year and deduct it. That’s pretty fantastic! Here are three plans to consider:

Simplified Employee Pension Plan (SEP IRA)
Savings Incentive Match Plan for Employees (SIMPLE IRA)
Self-Employed 401(k) plan

If everyone in your business has an ownership stake, the Self-employed Plan is great because you can contribute, and write off, the most money out of all these plans.

The SEP IRA allows only the employer to make contributions—these are contributions for employees, which you then write off.

The SIMPLE IRA is for the business with up to 100 employees. If you’re planning on growing your business and you want employees to be able to contribute to their IRA, this one makes the most sense.

All of these plans render contributions tax-exempt. Simply put, they’re better for a small business than a traditional 401(k) because they have lower setup costs and fewer administrative responsibilities.

Know whether to file as Sole Proprietor or S Corporation

If you’re currently a Sole Proprietor, take a look at what your self-employment taxes end up being this year. You might want to change to an S Corp. If you’re starting a business and want to file as a Sole Proprietor, be aware the self-employment taxes are 12.4% of income for Social Security (up to a ceiling, after which that number goes up), and 2.9% Medicare.

If you file as an S Corp, you avoid that self-employment tax. You’re not taxed on dividends that go to you as a shareholder. There’s more paperwork involved to be S Corp, and I recommend you ask your accountant if this is a good option for you.

Know exactly which employees are 1099-C

You avoid a lot of taxes when you enlist 1099 contractors. For that reason, among others, many small businesses have been upping the amount of contractors on their roster. But the IRS will be looking hard at whether these contractors actually qualify for the 1099-C. Make sure they’re all classified correctly, so you don’t get audited.

This is a guest post by Daniel Matthews.

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Selling your Property in 2016: 3 Steps to follow

We have seen the creation of a sellers’ market in UK real estate during 2015, as a viable lack of housing supply has enabled vendors to place a premium on their homes. While this has driven huge price growth, is has also created a cavernous gap between supply and demand in the UK and made it increasingly difficult for buyers to make their move.

How to sell your property successfully in 2016

Given that the level of growth will become more manageable in the year ahead (and the gap between supply and demand will shrink), you may feel as though you have missed a window of opportunity if you are looking at selling your property in 2016. This is not the case however, so long as you adopt a proactive approach towards marketing home and ensuring that it is fit for sale. Be selective when making Modifications

With price points set to rise at a healthy by manageable 7% in 2016, you may feel the need to further optimise the value in your home through modifications. While there is nothing necessarily wrong with this, it is important that you are selective and strike a balance between cost and ROI. With this in mind, we would recommend making costly and time-consuming changes such as adding a conservatory, and instead focus on those with a lower cost but an ROI in the region of between 30% and 50% (such as a new kitchen or bathroom installation).

Make your home appealing to outsiders

While this may sound obvious, it is important to present your modified home as a neutral and malleable living space. When potential buyers are presented with overly cosy and personalised homes that bear the hallmark of individuality, it can create an extremely oppressive environment and prevent them from making an informed decision. By promoting an open and neutral space, however, you invite them to imagine themselves living within the property and make it easier for them to make an offer.

Avoid the Hard sell

By now, you should have a well-designed and appealing home that speaks for itself as a quality product. While you will still need to market and sell your home to potential buyers, however, you can at least avoid the type of hard sales patter that can create cynicism among buyers and discourage them from making a bid. By simply reinforcing the properties unique selling points and sharing the enjoyment you have gained from living there, you can effectively sell your home in a friendly and engaging manner.

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Why Building a Strong Personal Brand Online Is Crucial for Female Entrepreneurs

Because we live in such a technology-driven culture, it’s common to hear warnings about conducting ourselves as professionally online as we do in real-life situations. In a broader sense, you may have heard people talk about the importance of building a “personal brand” in the online realm. That’s a crucial thing to do if you’re in business, and even more so if you’re a female entrepreneur. We’ll look at some reasons why below.

What Is a Personal Brand?

Branding in a marketing sense may encompass slogans, colors, fonts, graphics and even theme songs. The golden arches associated with McDonald’s are a great example. Even from a distance, people can usually spot their shape and have a sense of what that M-shaped sign means to them.

Your personal brand is a way to separate yourself from competitors, let people know what they can expect from you, and build your reputation, among other things. Think of your personal brand as a reflection of what you are able to deliver consistently during interactions with others. Ideally, the traits showcased through your personal brand should align with what your business represents.

A Personal Brand Increases Credibility

Although the Internet can be very informative, it’s also well known to have heaps of unreliable or unconfirmed material. Since you can’t believe everything you read, there are probably at least a few bloggers, news sites and social media feeds you follow because you have a strong sense that the content there is correct.

Your personal brand as a female entrepreneur can bring others the same comfort that comes from knowing you’re likely reading reliable information. Once you develop a strong, relatable and authentic voice, you’ll be more likely to increase traffic to your respective web properties. That’s why it’s so essential to keep your webpages updated regularly.

Some people think the way to showcase credibility is to talk incessantly about all they have achieved as entrepreneurs. However, you’ll probably get much better results by carefully taking time to understand what resonates with your audience, and then publishing content that’s trustworthy and meets their expectations. When you’re able to do that, it naturally makes people feel they can depend on you.

A Personal Brand Lets You Offer Something Valuable

Another reason why it’s so important for female entrepreneurs to have a strong personal brand on the Internet is because the personal brand acts as proof they can give something of value to readers. Some entrepreneurs tend to lose sight of how much they have to contribute just from the lives they’ve lived, along with the associated experiences.

Maybe you worked three jobs, all while going to college, because that was the only way to support yourself before your business was launched. Although that experience was undoubtedly tough, it wasn’t pure drudgery. The hardships you faced, and ultimately conquered, could serve as powerful encouragement to females who are also going through their fair share of hard times during the often-lean beginnings of starting a business.

Perhaps most importantly, when you engage readers on a regular basis and remind them that what you have to say is worth reading, it’ll make them bookmark your websites and hopefully return to them regularly. As you steadily build up a readership, it not only increases the chances that your business will prosper, but may also mean you get additional opportunities to grow your reputation, such as doing public speaking events or having your content cross-posted by other publications.

A Personal Brand Can Be an Indicator of Quality

There’s probably a certain level of accountability already linked to your business. Take Apple, Inc., for example. Whether or not people even own Apple products, they often think of the brand as being forward-thinking, cutting-edge and a little dazzling.

However, customers also hold the brand accountable for making products that last a long time and perform as advertised. Some people are surprised to find that any Apple accessory sold in one of the brand’s stores must pass a series of tough tests, even if it’s made by a third-party company and does not bear the Apple logo.

The Apple example demonstrates how the brand has accepted responsibility for the products people use with their iPads or MacBooks, even if they didn’t come from an Apple factory. So how does this apply to you? In short, always be aware of your public image.

For example: if you take care to always proofread your blog posts, keep a consistent tone, cite sources and support colleagues, those are all characteristics that show others you care about conducting yourself in a professional way. Over time, people may remember those above-average online interactions and realize they’d really like to purchase the products or services you sell, because they already have a good impression of you and feel confident the products you offer must be of good quality.

A Personal Brand Demands That You Know Yourself and Embrace Who You Are

In a personal branding sense, you must be accountable not only to others, but to yourself as well. With each passing day, that means upholding a standard you’ve set for yourself, and the standards that others expect you to have. The former standard is sometimes more difficult to maintain, especially if you get too caught up in trying to be someone others want you to be.

If you find you’re constantly doing things that make you worry later about how people perceived you in those situations, that may mean you need to shift your standard of accountability. It’s all about striking a balance.

Building and maintaining your personal brand might involve removing some Facebook pictures you’d rather the public didn’t see, but if you get to the point where you’re hesitant to let others take pictures of you at a party because you’re not sure where those snapshots might end up, it’s time to take a close look and determine if you might be trying to meet an unrealistic standard.

Although your brand gets broadcast for all to see, you are ultimately in control of it. As a female entrepreneur, you could discover it’s time to expand your personal brand a bit so it’s not just centered on your business, but also shows your audience who you are as a person.

It may seem like this recommendation conflicts with what was just mentioned above, but when you’re able to convey that you’re very self-aware and fully embrace the various things that make you unique, it tends to draw people in, allowing you to be a source of inspiration.

A Strong Personal Brand Requires Constant Growth

It should be clear by now why people who have well-developed personal brands are usually strong leaders. Indeed, many of the things that naturally make up a personal brand cause people to view individuals as role models. However, a survey conducted by the Glenn Llopis Group indicated less than five percent of leaders feel they are living out their personal brands every day at work. If you’re running into the same challenge, take comfort in the fact that you’re not alone.

Eventually, it shouldn’t seem like you’re constantly working hard to develop and maintain your personal brand, but more that the personal brand is just an extension of who you are. It’s understandably hard to reach that point, though, probably because having an effective personal brand necessitates constantly improving your skill sets and expanding your knowledge. In turn, peers should develop a greater amount of respect for you, and your abilities as a leader should become stronger over time.

It’s especially crucial to have a clearly defined personal online brand as a female in entrepreneurship, because your online reach is potentially so much further than what you can accomplish in person. It’s often obvious when people in your physical sphere of influence look up to you as a source of current and reliable information. But imagine how impactful it could be if you get an email from a reader in India who said she really appreciated your insight?

When you fully understand that it’s never permissible to just sit back and congratulate yourself on a job well done, the people you influence online will likely admire your commitment to always challenge yourself, stay abreast of industry developments and remain relevant. In some cases, perpetual growth means stepping out of your comfort zone, too. As long as you can enter such uncharted territory while staying true to who you are, those efforts could also be considered periods of growth.

Your personal brand is something that’ll often evolve and must be carefully monitored. However, with the right approach, it could end up being one of your most valuable assets.

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