Business Blogger

In the midst of the crisis brought by Coronavirus, it’s understandable that people all over the world are worried about their financial outlooks and economic viability. While you’re at home, here are seven things you can do right now to manage your finances:

This is a really good time to look into your bills, organize them, and identify which are critical and need to be paid immediately. It’s also helpful to check with your service providers if they are offering any assistance, such as suspension of bills or the possibility of skipping payments temporarily until the virus pandemic is over.

This is the time to reduce spending on discretionary and non-essential products and services. Things like entertainment, vacations, and other items deemed luxury should be limited. Save as much as you can into your emergency fund in the event you lose your income in the next few months.

• Get a hardship program from credit cards.

Credit card providers offer you hardship programs in the event you lose your income, and you have difficulty paying your debts. Some providers even offer a small period of non-payment. Check out this site on the assistance provided by banks for people wanting a little bit of flexibility.

• Change how you pay for loans.

If you have a loan you’re paying for, check if there are any existing options such as temporary suspension of payments like forbearance and deferment. If you defer, you can avoid any interest accrual, while with forbearance, you can’t avoid the interest, causing your debt to grow. Best practice when it comes to forbearance is to pay your interest portion, so that your debt doesn’t grow.

• Remove auto-debit payments.

You should also consider removing auto-debit payments for existing utilities and bills in the event you feel like you may be low on cash. This gives you flexibility in paying bills and expenditures that are more important. However, make sure that you do stay up-to-date with these payments as soon as you can, or check to see if there are options of paying in increments as opposed to the full sum.

• Be wary of scams and price inflations.

There are scams and price gouging related to Coronavirus. Many governments around the world have taken measures and steps to ensure that businesses don’t take unfair advantage of consumers by increasing prices for essential items. If you do see businesses raking up the price for specific items, immediately file a complaint.

If you’re worried and in need of some perspective of how things will be in terms of the economy and your financial situation, you can also speak to a financial advisor who can help you create a financial management plan for the next coming months. You can speak with a proactive consultant online on this link to help you get connected to over 1,600 tax and financial professionals.

While it offers you a fresh start financially, there are several other issues for you to take into account.

These five bankruptcy-related facts will help you decide if filing for bankruptcy is the right move for you.

There are different types of bankruptcy

Of the six types of bankruptcy, the two which apply to individuals are the ones we hear about most often: Chapter 7 and Chapter 13 bankruptcy.

In Chapter 7 or liquidation bankruptcy, you can have most of your debts discharged but you may have to sell most of your assets to cover as much of the debt as you can.

If you have sufficient income, a Chapter 13 or reorganization bankruptcy gives you the chance to reorganize your debts with a longer period to repay them, usually three to five years.

Not all responsibilities can be discharged

Bankruptcy cannot make ALL your debts go away. You will still be required to pay child support; alimony; and certain taxes. Also, criminal fines, most student loans, and some court restitution orders still stand after you declare bankruptcy.

Secured loans, such as a mortgage and car loans, cannot be discharged by bankruptcy. You may choose to relinquish the property to the financial institution and walk away from the debt owed.

A bankruptcy stays on your credit report for up to ten years

A bankruptcy can devastate your credit score, which might not be such a big deal for you.  Chances are that if you are considering bankruptcy, then your credit score is already in pretty bad shape.

Chapter 13 and Chapter 7 bankruptcies stay on your credit report for 10 and 7 years, respectively. Bankruptcy makes it difficult for you to get new credit and to rent an apartment or house. You will also face increased insurance premiums and higher interest rates.

There will be attorney and administrative fees to pay

While you can file for bankruptcy on your own, it is never advisable to do so. The process is far too complicated with too many options and procedures. An experienced bankruptcy attorney can help and will charge fees according to the type of bankruptcy you file for – Chapter 13 bankruptcy typically draws higher amounts.

There will also be administrative court fees which are based on the type of bankruptcy, amendment requests and documents being filed. The charges are usually nominal but they add up over time.

There are alternatives to bankruptcy

Bankruptcy may not be the best option for you at this time. Other possibilities include debt consolidation, working with a credit counselling agency and negotiating with your creditors to create a debt repayment plan.

Most law firms which specialize in handling bankruptcy filings like John A. Steinberger & Associates, P.C. will counsel you on the bankruptcy alternatives you can consider.

Bankruptcy may be the opportunity you need to start afresh. The process and its results are not as cut and dried, however, as most persons think. Give your options careful thought and discuss how bankruptcy will affect you with an attorney who specializes in the field.

The idea of Bitcoin as an investment asset, or even as any kind of asset, is still foreign to a lot of us.

This is a tech-based alternative currency that, for a few years at least, seemed like a fad. It appeared to be destined to fade away and become little more than a collector’s item, and that’s not just one man’s opinion. Plenty of financial analysts felt the same (though it’s true than plenty also saw Bitcoin going places, or even potentially replacing cash).

As it turns out, Bitcoin is something to be taken seriously.

This doesn’t mean that we’re all going to be transitioning to it away from regular money (as its strongest advocates have long predicted). But it does mean that it’s likely going to maintain significance, and that it could be useful.

So, in case you’re starting from scratch in this department, I wanted to provide a basic overview for how to think of Bitcoin with regard to investment.

What Is It?

It seems only proper to start with the most basic question: what really is Bitcoin?

It’s still a fair question, even if you have a general knowledge that it’s a “digital” or “electronic” currency.

The strictest definition of Bitcoin is that it’s an intangible store of wealth that exists exclusively in the digital space. Some have even compared Bitcoins to coupons for purposes of understanding.

Owning Bitcoin simply means having access to proof that you have acquired a given amount of digital wealth.

There are 21 million Bitcoins that make up a finite supply slowly but surely being “mined” via complex mathematical processes. Once a Bitcoin is mined, it essentially joins the market where it (or fractions of it) can be bought and traded.

How Do You Get It?

If you’re going to be considering Bitcoin for investment purposes, you of course need to know how to acquire and store it.

I mentioned the mining process, but frankly that’s something most of us don’t need to worry about.

The focus instead, if you decide to invest (and I’m not saying that’s necessarily a good idea), should be on buying Bitcoin that’s already on the market.

This can be done in a few different ways. Through online and mobile exchanges (where it’s a fairly straightforward digital transaction) or at a BTM (which is a Bitcoin ATM, essentially).

In order to buy and store Bitcoin, however, you need to have a Bitcoin wallet set up. And for this it’s important to understand a bit more about how Bitcoin storage works in general.

When you own Bitcoin, you technically own access to the code that represents it – the “coupon,” if you will. But that actual code is stored on the secure digital leger known as the Blockchain.

A wallet stores the “address” to that code on the Blockchain, but also stores your private key. This is vital, because only with both can you access and use your Bitcoin.

So for all intents and purposes your wallet is a digital record-keeping device. There are different kinds of wallets including hardware, software, and mobile options, each with different pros and cons.

Do People Invest?

In a word, yes. Bitcoin first emerged as a cryptocurrency, and that’s still technically what it is.

It can be used to purchase goods and services at participating vendors both in person and online, and it can be exchanged for real money.

If you really want to use Bitcoin as money, there are opportunities to do so. But increasingly, people appear to be viewing it as a commodity or long-term asset.

Some have compared it to oil or gold, in that it’s a sort of “precious” commodity existing largely beyond the terms of ordinary stock markets and financial systems.

So yes, people are absolutely purchasing Bitcoin as a means of investment. And for what it’s worth, they’re doing the same with several prominent “Altcoins,” which are alternative cryptocurrencies worth far less than Bitcoin. People are also using trading bots such as https://www.bitcoinlifestyle.io/  to control their investments and make great profits in Bitcoin and other cryptocurrencies.

Should You Buy In?

Far be it from me to give a definitive answer to this question. Every investment is a personal decision, and Bitcoin is trickier than most.

On the one hand, its value has quite literally quadrupled in 2017, which can make it look very appealing.

Had you invested years ago, or even in January of this year, you would likely be very happy with how Bitcoin performed. However, many experts remain skeptical of continued growth.

Bitcoin has always been volatile, so it’s a very difficult investment prospect to monitor.

But at the very least, this is worth thinking about for a diverse investment portfolio.

Instagram can be your gateway to a wider audience. Marketing enthusiasts consider it the best platform to promote your brand, gain a massive following and target audience effectively to grow your business. But, with its ultra-smart algorithm and plenty of competition on the channel, it is getting difficult to cope with the rival brands.

Most importantly, engagement issues have been increased than before. According to a web design agency New York 13% of the world’s population uses Instagram and 80% of this population follows brands. So, it’s fine to feel overwhelmed when your engagement is declining.

We have compiled 11 effective tips for you to try and skyrocket engagement on your profile!

1. Post Visually Consistent Content

Instagram is all about visual content and it will probably stay like this in the near future. So, you need to be more focused on the quality of your photos. Glossy perfection is now taken as an old trend.

Nowadays, the users are automatically drawn to distinct perspectives and authentic expression. To achieve this, experts recommend using candid shots, minor edits with muted or earthy tones. So, the days when high-saturation filters and perfectly positioned objects used to grab attention are long gone.

You can still opt for any editing style. But, to keep followers engaged with your feed, you must build a visually consistent content. It needs to resonate with your brand identity and attract your audience.

2. Use Stories Stickers

Instagram has been coming up with interesting ways so that brands can engage with their followers. One way to maintain engagement on your profile is to create fun Instagram stories using stickers.

These stickers can help you improve as a brand. Various stickers like quiz or question ones are designed to communicate with followers; you can also ask their opinion and experiences.

3. Find Relevant Hashtags

When it comes to adding hashtags to your posts, make sure to use the trending and industry-related ones. You can research hashtags and look for the following:

• The type of content under the hashtags
• The number of comments and likes on the posts

If you are producing similar content, you can incorporate it in your post as well for maximum engagement.

4. Don’t forget to add Location

If you have been ignoring the location step, start doing it now. The easiest and quickest way to improve engagement on your feed is to incorporate location in each post. Your posts with location have higher chances of engagement.

For example, if you make a story while attending an event in a certain city, you can insert the location sicker. This way, your story will pop up in the location’s stories for other followers to watch and explore your feed.

5. Repost Popular Content

Look at your post’s insights and study which posts have been performing well on your feed. Don’t hesitate to repost those posts on your stories and encourage your followers to share it on their stories. This way, a new set of followers can find your page and eventually bring engagement.

6. Develop a Specific Hashtag

If you have been using Instagram solely for marketing, creating a specific or branded hashtag would be beneficial for you. For example, you can think about a short, recognizable hashtag with your brand name in any form. #Colorpopme from Color pop cosmetics can be a good example to take inspiration.

7. Tell Your Brand Story

To create authentic content, don’t shy from telling the honest, raw and vulnerable part of the business. Give your audience something that lets you connect with them on the emotional level. Your authenticity will ultimately bring impressive engagement. Thereby, you can share struggles on bad days along with achievements and everything lesson worthy in between to create a stronger bond.

8. Write Detailed Captions

Earlier, one-liner with one or more emojis would work as a caption. If you were in the same boat, you need to abandon this practice and focus on your providing details. Instagram allows caption limit up to 2,200 characters long. But, you don’t have to write 1k words in every post.

A well-crafted informative caption is what you need to boost engagement. When you start writing, ask yourself why you want to share this post, how is it going to help people or does it value your follower’s life? Once you know the answers to questions like these, you will come up with a captivating caption.

9. Share Videos

Your followers might not be interested in reading paragraphs. But, no one can ignore to a fun yet informative video. A video is a fun way to deliver valuable content. You can make how-to videos, share behind-the-scenes, etc for engagement on your feed. Plus, Instagram offers several video formats that make video sharing handy and effective at the same time.

10. Maintain Consistency

Make sure to devise a posting schedule and stick to it. No one wants to follow a page that posts on rare occasions. When you post regularly, your feed stays fresh and your followers receive constant doses of information. Consistent posting is also an ultimate way to grab the attention of users who haven’t followed your page yet.

To make the most of your posting, it’s necessary to learn the Instagram algorithm. The algorithm tells you when your followers are most active. So, you can make a new Instagram post accordingly.

11. Go Live

The live feature on Instagram is the best option to get instant engagement. When you have a special announcement, you need to reveal a new product or service or you want to interact with the audience, going live can do wonders for your feed.

Most importantly, IGTV takes 4x space on the explore page. If your live session makes it to the explore page, you are going to get more eyes on it than photo posts.

Final Thought

Instagram offers interesting features that ensure elevated engagement. You only need to find what works best for you to get the attention your page deserves.

If you want to determine the success of your business, you will have to value it. However, business valuation is a critical process. Most of you think that your business is on the right track as long as you are earning high revenues. Still, it takes into account various factors such as the sector you are in, the level of competition, the type of competition, and how you run your business.

Well, such factors require you to analyse more in-depth into the performance of your business, and it requires exceptional skills and patience. If you want to get a quick idea of the worth of your business, the turnover valuation will be the right way.

What is Turnover? Can You Address It As Profits?

Before you value a business based on turnover, you should know what exactly it is. It refers to the total sales generated by your company. You can say it, in other words, gross revenues or gross profits.

Turnover is the total income of your business, known as net sales. However, profits are figures left after meeting all of your expenses. It is vital to know the level of turnover to find out whether you are attaining the level of the desired profits.

Although you leave no stone upturned to market your business, the sale is likely to the drop-down. Gross profits can be low compared to the annual turnover, and if so, you need to implement a strategy to cut back on the cost. If you keep the operation cost low, your profits will go up.

When Should You Estimate The Success With Turnover?

Though turnover is the critical factor in determining the success of a business, you need to find out the right time to do it. Even though sales rather talk about how efficient your operations are, it serves a reasonable basis for business valuation. If you have a start-up, you may not have a set of company accounts. In this situation, you may need to value your business as soon as possible.

Another scenario this valuation method works is when your business has a complicated setup. This method generally works for retail stores. As they have a record of sales made every day, they do not have any other way to do it.

How to Find The Value of a Business

Now you have got to know what is turnover in business and when you should value your business based on turnover. To start the valuation process, get the figures for weekly sales. Get your total turnover to date and add in the figure of previous financial years’ sales. Divide the sum by the number of weeks in that period.

Once you have estimated the average weekly turnover, you will have to decide how many weeks of that turnover equate to determine the value of your business.

For instance:

If you have a grocery store, you should multiply the figure by 10 weeks, and if you have a salon, you should increase the sum by 15 weeks. If you have a café or a takeaway, you should multiply the amount by 20 weeks. If you have a restaurant, you should consider multiple the sum by 30 weeks.

What Can Be The Average Small Business Turnover in The UK?

Getting into a profitable condition requires a lot of hard work. Many of you get disillusioned with the fact that you are making lower profits than you imagined at the time of taking it off the ground.  Over 50% of businesses fail within the first five years to withstand the competition.

Of course, turnover varies from the size of the company. Big companies will have higher turnover than small companies, including start-ups, but the question is how much a small business makes turnover in a year.

According to a survey, the average small business turnover in the UK with no employee is £35,000. It increases as the number of employees increase. If it has 10 employees, the turnover will be around £700,000. If it has 20 employees, it will be around £1,400,000.

There is no denying that if you can have enough profits after meeting all your expenses, your business is growing. Small business, including sole proprietors, can find out the value of the company based on turnover. If the turnover is high, the cost will also be high. Never miss an opportunity to keep the ball rolling even if you lack funds because small business loans can help you.

There are various Private lenders in the UK who could offer you these loans despite bad credit rating.

With the current measures, such as the stay-at-home order, effectively communicating through the COVID-19 crisis will be a challenge. Many healthcare companies have adapted to managing staff members remotely. Since this ultimately may become the new norm, organizations will need to adapt to effectively communicate with key stakeholders. Three major stakeholders for any healthcare organization could be:

1. Leadership
2. Staff
3. Customers

Healthcare companies will need to practice effective communication among all three of these stakeholders.

With a majority of offices closed due to stay-at-home orders, ensuring the leadership team is effectively communicating with the staff is key. The ability to walk down to an individual’s office no longer exists. 

How to Communicate

There are many different platforms healthcare leadership can use to effectively communicate. Most individuals are accustomed to using email. With the dwindling ability to speak face to face, inboxes around the world are being flooded. Following long email chains can be difficult and responses can get lost in replies. All kinds of organizations from eye care facilities to drug detox centers are adopting mediums such as:

• Slack
• RingCentral
• Microsoft Teams
• Google Hangout

All of these channels are effective but lack tone when messaging. To overcome the loss of tone and emotion when communicating, schedule a daily conference call with your leadership team. Using voice communication will allow for tone and emotion to be conveyed. Also, this form of communication will begin to bring some normality to the workforce. Hearing a friendly voice during the stay at home order can provide a calming sensation.

What to Communicate

Be Transparent

Healthcare leadership teams need to be transparent. Without a physical location, individuals may not be able to see what is transpiring in the organization. For example, if the breakroom supplies at a drug and alcohol rehab center are low, a staff member may think financial trouble is ahead. The ability to see “the writing on the wall”, may not exist in a virtual work environment. Being transparent with the team will allow for future planning. The new virtual workplace might be the new norm.

Singular Messaging

Make sure to communicate a singular message. Ensure all individuals are hearing and speaking the same message. By doing so, the organization will be able to instill confidence with staff during these times. By communicating a singular message, an organization may avoid the old telephone game. Without a physical office space, the ability to corral the staff members to change the message may not be available. If you find yourself in a mixed message situation, you may need to consider using a video conference platform.

The topics discussed in the leadership section should also be applied when it comes to healthcare staff. The important topic that must be executed correctly is singular messaging. Rounding up the leadership team might be an easy task, but depending on the number of staff members and shifts, corralling this portion of stakeholders could be difficult. By this time, staff should understand the organization’s standard operating procedures. Over the next several months, it will be important to communicate about the topics below.

Communication Practicalities

It’s important to bear in mind that virtual communication cannot replicate every aspect of in-person conversations. A great many non-verbal cues can be missed over a video call, so it’s important that all parties bear this in mind. This can have an impact on attendees who speak other languages. It’s easier to follow a discussion in your second (or third) language in person as you benefit from all of those unspoken signals and cues that are so essential to effective communication. As such, healthcare companies may like to consider options such as zoom interpretation services for communicating with multilingual staff. Easy to implement and use, this kind of interpretation service can also be hugely beneficial when communicating with customers who speak other languages.

Safety

The current COVID-19 crisis has rapidly produced mass fear. With the current media coverage regarding the deaths that have occurred, staff members are worried. They may not have the ability to work remotely or have the financial means not to work during this time. Considering their safety will go a long way.

Communicating About Safety

One of the easiest ways to communicate safety is through training. Leadership can facilitate additional training by adding new standard operating procedures or by supplying videos. The CDC currently has numerous videos on topics like hand-washing and making DIY cloth face masks. Having training information available for staff will go a long way.

Regardless of whether you have been able to secure PPE equipment or make cloth face masks, make sure to let the staff know what is going on. Often, staff members do not see or hear what is discussed behind closed doors. They only see what is delivered. Seeing a manager cleaning high-traffic touchpoints is a physical action that they see. However, they do not see the purchasing manager combing the internet for these supplies. Sending out a weekly report outlining the steps you have taken (successful or not) will ease any worries among the staff. Knowing that the organization is doing everything it can to ensure staff safety will go a long way.

Job Security Communication

Financial fear drives everyone. Some individuals deal with financial fear better than others. Nonetheless, it is a tough topic that must be discussed. 

As many authors have already pointed out, if you have to layoff staff members, do it fast and all at once. Do not draw the process out. Be transparent about the layoffs, what the plan is, and why you are executing the plan. The individuals that were laid off will be hurt, but you will be able to calm the remaining staff.

If you were successful with the payroll protection program, inform the staff. Letting them know you have two and a half months of secured payroll is comforting news. Be upfront with the financial aspect of the healthcare organization. In most cases, organizations will want to do the opposite. But during this time, staff members are more concerned about maintaining their employment rather than getting a raise.

Just like staff, customers share the same fears. Sending communication to address both of these concerns will comfort your customers. Communicating about safety and finances can be done in the following ways:

1. Email campaigns
2. Social media posts
3. Cold calling

Getting the message out, regarding the positive message of safety and any help you are offering financially, will hit home with your customer base. Also, consider using a mobile app to communicate with your customer base. Just about every type of healthcare organization, from mental health specialists to sober living home operations, can benefit from a mobile app.

In every environment, adapting to change is necessary. How organizations operate during COVID-19 might become the new norm. A virtual workforce might replace the downtown office space. Healthcare organizations that embrace this change will thrive on the other side. Communicate with the intention of looking forward. 

If you remember Southwestern Bell, they were a telephone company several decades ago. During the technology change, they were still hyper-focused on laying telephone lines when cell phones were becoming the norm. AT&T, on the other hand, began building cell phone towers. You can guess what happened with Southwestern Bell.

Embrace the current environment and begin communicating with the future in mind. How a healthcare organization used to communicate might be like the old telephone lines.

Personal finances are a part of life that everyone has to deal with. Whether it’s paying your credit card, trying to save money, figuring out how much money to invest, or trying to minimize the amount you spend, personal finances are an important part of life, and if done right, can set you up for the future. It’s a struggle and something that takes time to get good at, like everything else, but will have a real impact on your life and your lifestyle.

The most important part of personal finances are the foundational fundamentals you have. These are the things you believe in, the practices you follow, and the agenda you’re trying to achieve. A lot of the way we handle finances is learned either through our parents, our own habits, or what we believe is the right thing to do. The foundation of a house is what holds everything together and gives it the support it needs to stay around no matter the conditions.

A lot of what the foundational fundamentals when it comes to money are all about the basics.

Revenue – Expenses = Profit or Free Cash Flow

The formula behind most of finance is revenue minus expenses equals profit or free cash flow.

Revenue is the amount of money you’re able to make or earn, it’s at the top of the line. The amount of revenue you earn or make is dependent upon the job you have, the salary you earn, the bonuses you receive, and the state of the economy or marketplace you’re operating in.

The amount of money you spend, or the amount of your expenses are taken out of the amount you earn. This deducts or reduces the amount of money you’re able to have for yourself, or that’s going to be leftover. This can be rent, taxes, insurance, spending money, food, vacations, or anything else you might find yourself spending on.

A lot of the expenses you have is determined by the lifestyle or the life you live. Depending on the type of apartment or house you rent, the type of car you drive, whether you eat out a lot or eat home, the type of clothes you wear, all will be major factors when it comes to your expenses. The more expensive, or the more luxurious type of things you go for, the more it’s going to cost you. The more something costs and the more you spend, that means less amount of free cash flow you’ll be able to choose to do whatever you want with.

The amount of cash or money you have leftover after your expenses will determine what you’re able to do, and what you aren’t able to do. This means if you have more money, you’ll be able to do the things that require more money. Things like buying a house, building a strong stock portfolio, creating a business, all require lots of money or capital. If you aren’t able to have a lot of free cash flow left over, then you’ll end up having less money to do the things you want to do, or less money to achieve the goals you want to achieve. And if you have less money, there will be things that cost money that you won’t be able to do. Which is totally ok, and fine, it all just depends on what you’re trying to achieve, and the life you’re trying to live.

Saving vs. Spending

Finding the balance between spending the money you make and saving the money you make is a crucial element of anyone’s personal finances.

Everyone wants to spend their money, experience the excitement or the exhilarating feelings that come with it. Whether that means going out to dinners, shopping, buying things you want, or the vacation you’ve really wanted to go on. All of these things cost money and take away from the amount of money you’re able to save. It’s important to enjoy, and not play on the extremes, because they are a dangerous place, so you want to do both, spend and save.

It’s important to keep in mind that each person is different. Everyone has different priorities, they have different goals, and they have different things they want to achieve. Depending on the person you are, the live you want to live, and the things you want to do, will determine how much money you’ll need to save in order to do the things you want to do.

But what the goal is, is to find the things you truly enjoy or appreciate and spend on them, while the things you can live without, or don’t value as much you can refrain from spending on. A lot of people have heard the term, a dollar saved is a dollar earned. What goes behind this saying, is by saving or keeping the money you make, you’re essentially earning it and keeping it.

Once money is spent, then it’s gone, all you have is the experience or the goods/services you purchased. The act of spending it feels good, but how do you feel after you’ve spent it? It’s a battle that everyone fights, and everyone struggles with. You want to enjoy the fruits of your labor, but you also want to prepare yourself for the future. Ultimately, you want to do both, have the best of both worlds, which you can.

The way to do it is by doing a little of each. Doing it slowly. Try and save a little amount of money consistently and try to spend a little of the money you have consistently. By moving slowly, and doing both, you’re able to get the best of both worlds. This you can be working your way to getting prepared for whatever might come your way and enjoying the time along the way. There will be times you’ll have to say or hold yourself from doing something, but that’s part of having both, the saving and spending aspects.

However you want to analyze it, whether it’s from an accounting vs finance perspective, something is going to have to give. Whether it’s the things you do, the things you buy, or the places you go, if you want to have the flexibility and ability to do things you want to in the future, or be prepared for whatever comes you’re way, odds are you’re going to have to save parts of the money you make, not spend it all.

Conclusion

The basics of finance are what things really come down to. The things that everyone has heard about and has heard a hundred times are the things that really have the most impact and meaning on people’s personal finances.

The simple formula behind all businesses is revenue minus expenses equals profit or free cash flow. This formula applies to you too. The more money you’re able to make, the more money you’ll be able to spend. And the more money you have leftover at the end of all your earnings and expenses, the more money you’ll be able to choose what you want to do with. The amount of expenses you have, or the lifestyle you choose to live will have a lot to do with the amount of money that you’ll have left over.

Finding the balance between saving and spending is what everyone is trying to do, each and every day. You ultimately want to do both. A mix of both saving for the future and spending to enjoy the present. Playing on the extremes of doing one or the other isn’t the best idea, because you start to gravitate towards one or the other, and it’s important to have both. Making the right decisions and deciding when to spend or when to save comes with time, and experience, and is something everyone, at every age has to constantly battle with.

 

Marketing has become an important part of online business. Email marketing for eCommerce business has become essential as without email marketing strategy it is impossible to build better relations with customers and achieve better growth with Ecommerce mobile app development. There are various ways in which the company can achieve better results, below are some of the best practices that the company or business can follow to connect with new customers and retain existing customers.  

Welcome Email 

When new subscribers sign-up for the Ecommerce newsletter, they always look forward to hearing from the company or business. Hence, the best time to reach customers is as soon as they sign-up and this is the time when they wait for the email from the company. 

Regardless of the way such as website or Ecommerce mobile app development, it is always better to send a welcome email to new subscribers to let them know more about Ecommerce websites. With welcome email, companies can also set expectations and also segment customers based on their likes to improve future communication with the customers.  

Personalization for Target Segments

There is always more than one target audience that the company aims to reach. It’s common for service or product to appeal to different segments of the population. But it is also possible that a company is not able to reach the entire audience with just a single message, this is where personalization can play an important role. Personalization can improve clicks, rates, and engagement and also reduce unsubscribe, spams and bounces. 

Moreover, sending personalized emails with content for each segment is one of the best ways to keep subscribers engaged and happy. Personalization can play an important role in Ecommerce email marketing. 

Offering Discounts to Loyal Customers

Keeping the most loyal customers coming back on the ecommerce website is possible with the loyalty program. Companies are also offering discounts with the Ecommerce mobile app development to retain existing customers. Offering coupons and exclusive discounts is one of the easiest and quickest ways to build loyal and committed customers. Some messages should be special for loyal customers so that they can feel more connected with the Ecommerce website. By letting loyal customers know their special status, Ecommerce sites can build strong relationships with existing customers. 

Sending Promotional Sales Emails

The Ecommerce company should focus on promotional sales that can help to bring in new subscribers. Holiday and seasonal-themed sales email campaigns is one of the best ways to attract subscribers who have not yet moved from window-shopping to buying the product. Ecommerce websites can also provide coupon codes that can be applied to the cart to easily avail discounts. 

Creating Well-Designed and Responsive Emails

All the emails by Ecommerce websites should be well-designed and responsive, right from welcome emails, to discounts and promotional emails, as well as transactional emails. Well-designed and responsive emails need to be visually appealing, easy to understand, should look good on mobile with Ecommerce mobile app development, and text should capture readers’ interest. 

Testing Email Marketing Campaigns 

Split testing email is one of the best ways of testing email marketing campaigns. Split testing emails include taking the original version of the email and testing it with another version of the email by changing the single element in the email such as subject line, Call-to-Action, or any part of the design or some line in the email. 

Sending Abandoned Cart Email

Many shoppers abandon carts, however, this doesn’t mean that these sales are gone. If the Ecommerce site is collecting the email address and tracking the usage of the site, then the next step is to send abandoned cart emails in case shoppers leave without completing the purchase. Here the Ecommerce site and Ecommerce mobile app development can also use constant contact email marketing automation features along with the integration of other services to get the best results possible.  

Getting Reviews from Engaged Customers

Reviews can act as the specific form of proof on how the ecommerce site is performing. When there are engaged customers who are buying from the site and also clicking on the emails, then the ecommerce site can reach them and ask for a review. With the reviews, the site can also make some changes based on the needs of the customers. 

Growing the Email List

Every year, the subscribers list declines by some percent both in the website and in Ecommerce mobile app development, this means that it is important to keep getting new subscribers and continue the growth of email lists. There are many places to provide options to grow email lists such as headers, sidebars, footers, etc. Besides these, there are some other places to capture leads such as catching customer attention during the checkout process by asking customers to subscribe to your newsletters or promotions, another way is to ask customers to sign-up during transactional email.

Referral Program

Word-of-mouth is one of the oldest forms of powerful methods of marketing. Hence, referral programs can be an excellent addition in the marketing toolbox. With the help of referral programs, leads to the Ecommerce website come through someone in their own network whom they trust. Moreover, some research studies have also found that people trust recommendations from the people they know more than advertisers. 

Sending Notifications About Wishlist or in-Stock Items

It is a great idea to let the shoppers or customers sign-up and be notified about the product upon the availability of the product which is currently not in the stock. Allowing shoppers to make a wishlist can also help the ecommerce website to send emails to customers about availability or discount on the same product and other updates on the product. 

Email Marketing Automation to Follow-up With Leads

Email marketing automation is one of the best ways to keep email marketing consistent and scalable. The ecommerce website can set email automation to perform various tasks such as sending welcome emails, notifying customers about the products they were looking for and left in the cart, sending special offers on birthdays and anniversary to shoppers, promoting webinars or events, sharing content, and other such tasks. 

The aforementioned email marketing tips can help the Ecommerce business to boost their sales and build better relations with customers. Along with this, tracking the results is also important to create a successful Ecommerce business and also make any changes if necessary. Email marketing can help both ecommerce website and Ecommerce mobile app development to enhance customer experience and serve in a better way. 

Author’s Bio:

Ritesh Patil is the co-founder of Mobisoft Infotech that helps startups and enterprises in mobile technology. He loves technology, especially mobile technology. He’s an avid blogger and writes on the mobile application. He works in a leading mobile app development company with skilled iOS and Android app developers that have developed innovative mobile applications across various fields such as Finance, Insurance, Health, Entertainment, Productivity, Social Causes, Education and many more and has bagged numerous awards for the same.

In this age of the digital world, technology keeps on updating itself and every other day you will find a new product or service introduced in the market. If you are a tech lover, you must always feel curious about the latest happenings in the technological world. But is it easy to stay updated? Yes, it is when you have access to the most informative and updated tech websites. Their main job is to keep you up-to-date with the latest inventions in the world of technology such as gadgets, computers, email services, smartphones, and the internet.

If you will Google the information, you may or may not get the reliable information or a trustworthy source from where you can acquire the information about newest releases, reviews of products, etc. that is why we have come up with our list of top 10 tech websites to remove the hassle of searching all over the internet and get it with just a few clicks.

So to keep you informed about the latest activities in the tech world, the following tech websites are going to help you the most:

The reason for it being at the first spot is its date of commencement. It was there in the market for nearly two decades and the publication is owned by Conde Nast. This website is a great place for both hobbyists as well as tech professionals. You will find a wide range of news and editorials, legal outcomes, security, and other interests. The users can interact with each other through the forums on topics like operation systems, hardware modifications, gaming, and software.

On number two, it is none other than TechCrunch that has more than 50,000 active contributors. The website covers information on tech innovations, covering major acquisitions, funding sources as well as new launches. If you need news related to a particular brand such as Google, Apple or Twitter, you can look for that too. It has its own CrunchBase where you will find a huge database of technology companies and startups. 

Get Assist has grabbed its position at 3rd spot owing to its informational tech blogs and articles. You name it and you will find it. Their motive is to cover the vast area of technical troubleshooting and make the users self-reliable to fix their everyday issues. Moreover, you can even look for reviews of the latest launches, the latest tech news, and whatnot. The different categories available on the home page make it easy to look for a particular product or service or you can simply search the box available there.

A great multilingual resource, Engadget has been helping people in their tech-purchases since 2004. If you are looking for any sort of tech-related information, it is the one-stop platform. It has completely covered the technology and the cutting edge devices it has given rise to are unmatched. So if you are confused about buying a gadget or tech device, you can rely upon them for the information they offer and make your decision accordingly.

There is no surprise that the Next Web is next on the list as it has more than 6.5 million monthly visitors. The site keeps its readers updated about the latest gadgets, web apps, updates, and other services. If you are new to the tech world and need something to keep you updated, you will never get disappointed with The Next Web. They will always keep you up-to-date with the newly launched products and the latest news in the technological world. 

Once purchased by Conde Nast Publishing, the website got separated from Wired Magazine in 1990. You will get information about everything from entertainment, business, security news, opinion and news related to all kinds of electronics. The website offers engaging as well as easy to understand articles for tech freaks. If you want to experience an old-school paper and ink, you can still get a copy of the wired magazine.

It is another trustworthy website that has found its position at seventh place on our list. Since 1996, it has been helping people with projects. You even get the ‘build your own’ section where you can learn how to create your computer. Tom’s Hardware always provides you proper advice on computer parts, motherboards and others. If you are finding it difficult to replace a computer’s part, this website is all you need. Bookmark it now and give yourself a treasure of technical resources. 

Next, we have CNET because it is loved and preferred by its users due to its huge library of freeware and software reviews that can be easily checked through the CNET download section. It has been competing since 1994 and has been owned by The CBS Corporation since 2008. You will find the majority of reviews available there that will assist you in deciding about hardware, software, and other tech services. The website is full of eye-catching and educational articles for all your tech buys. 

This website was discovered only a decade ago and from that time it has proved how strong an impact crowdsourced information and blogging can have. All the blogs available on the website are powered by Kinja that allows them to contribute to the discussion with their blogs and articles. This is why you will see more and more bloggers making their contribution to the news feed. So if you have Gadget to research, Gizmodo is always there to help. 

Way Binary is on the tenth spot as it has some of the most finely written troubleshooting articles and blogs. You will even find reviews of the latest technological equipment such as printers, laptops, smartphones, etc., introduced in the market. Moreover, you will find a ‘Top 10’ section that has been entirely dedicated to some of the top innovations in the technology world to make your purchase decision easy. The ‘How to’ section is enough to improvise your hidden technical know-how and will make you self-reliable.