How to Keep Up With Your Business Finances

When running a business, it can be incredibly difficult to understand your finances. However, keeping up with your business’s finances is of the utmost importance and should be one of your main priorities while running a business.

Although it can be easy to lose control of your finances, there are many ways in which you can be sure that you are able to track your expenditure, understand your taxes, and know your profits, some of which are explained below.

  1. Hire an Accountant

One of the most profitable steps that you can take if you struggle to understand your finances is to hire an accountant. Accountants can deal with all your finances for you, and prepare you for the tax year. Not only this, but chartered accountants such as Howlader & Co build a professional relationship with you that can help you to get the most out of your business financially and ensure that your business can be tax efficient. This helps businesses to ensure that they are paying the right taxes, know how much profit they are making, and organize their finances accordingly, taking away the stress of dealing with the complicated tax system alone.

  1. Understand Your Taxes

However, if you plan to control your business finances alone, you should first ensure that you understand your taxes as a business. Unlike during employment, when taxes are taken straight out of your payslip, running a business means that you have to maintain an understanding and submit your own taxes.

Income tax is based on the earnings of your business, and so calculating this is the first step to understanding how taxes work. However, there are many more implications which you need to consider, and these can affect how much tax you should pay.

  1. Track Your Expenses

To ensure that you are ready for the tax year, you should track your expenditure throughout the year. This will not only help you when it comes to submitting tax forms but also means that you will know how much money you have to spend and invest. The best ways to track your expenses include using apps and spreadsheet templates to create simple and yet effective methods of tracking your expenditure.

  1. Project Your Revenue

Not only this but when it comes to understanding your business finances, it can also be helpful to project your revenue. This will help you to adapt your business plan to the amount of money that you have available to spend, and will help you to prepare for any obstacles – or profits – you have in the future, allowing you to invest in your business accordingly.

  1. Write Invoices on Time

Writing invoices and sending these to your clients on time will ensure that you receive payment as soon as possible, reducing the number of outstanding payments that you have. You should establish a timeframe for payment in your invoice template, as this will give you a reference point so that you know when you will be receiving money and ensure that your money is not outstanding for long. If you have not received payment within a week, then you should ensure that you follow up on these invoices.

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Top 4 Technologies in Contact Centers in 2019

Contact center solutions have evolved from answering the phone to fully managing every aspect of operations including customer relationship management (CRM), data analysis, and market research. In spite of this, some still believe that contact center operations have failed to take full advantage of cutting edge technologies that could ensure better customer service delivery.

The good news is that we are in the era of technological breakthroughs that will change contact center operations as we know it. In this article, we provide insights into some of the technologies that will benefit contact centers in 2019.

  1. Call recording and voice analysis

Quality customer service delivery is a key prerequisite for ensuring customer satisfaction. Capturing, storing, and analyzing data about every interaction a client has with your call center allows you to react promptly and tailor your customer service program in a way that increases loyalty.

This is because collecting information about your customers provides you with the data you need to understand what they like or why they were not satisfied. Call recording and speech analytic programs like Recordia enable you to collect and interpret data so that you can improve the customer experience.

Technologies such as speech analytics enable call centers to process speech/audio to understand what a customer wants and how they feel when they call the customer care.

  1. Omni-channel technology

Today’s modern, tech-savvy consumers are very demanding in their quest for a great customer service experience. They expect to be able to reach businesses on any platform, anywhere, and from any device.

To increase customer loyalty, sales, and overall profitability, more and more companies are deploying omnichannel customer service techniques that provide clients with seamless interactions across all channels including telephone, email, social media, chat, text, etc.

  1. Chatbots

Chatbots are increasingly being implemented by companies in contact centers to raise the level of customer service, stay in touch with anyone who shows interest in their products or services and convince them to buy.

A chatbot is typically used in dialog systems to provide some human feel to automated communications to build a rapport with the client and ensure better sales. Also, it allows organizations to automate customer service live chat conversations and conducts conversation through both audio and text methods, allowing for personalized customer service that creates engagement at a higher level.

Chatbots complement human agents by responding quickly to simple queries online, freeing human agents up.
  1. Business Intelligence and Artificial Intelligence

AI-powered digital solutions are one of the essential technologies that are gradually making their way into contact centers. More and more businesses are incorporating these technologies in an effort to transform customer service interactions to improve the customer experience, loyalty, brand recognition, and the bottom line.

AI-powered intelligence agents, through their pre-emptive problem-solving approach, ensure customer satisfaction and increase in sales, thanks to their ability to continually digest data from dozens of information streams to make sense out of prior interaction and customer preferences.

This enables them to deeply understand the clients and serve up personalized content and product recommendations that will boost sales.

 

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Financial Security: Baby Boomers, Generation X, and Millennials Face Mixed Fortunes

 

Baby boomers, Gen X, and millennials have very different financial experiences. When compared to baby boomers or Generation Xers, millennials have it rough when it comes to finances. They enter the labor force when full-time jobs are few and far between, making the strive for financial independence, marriage, or retirement even harder.

In addition, they have an overwhelming student loan debt that prevents them from achieving their financial goals. Even worse, those who are already working are barely making enough money to cover their bills. Never mind savings. Data from Smartasset show that the average salary of the millennial today is about 20 percent lower than the average salary that a baby boomer earned at the same age.

These unique set of financial challenges make it difficult for millennials to build up rainy day savings or establish themselves financially. For instance, a study by the National Institute on Retirement Security found that 66.2% of working millennials have no retirement savings because they hold off savings in favor of paying off student debt or buying homes.

In contrast, prior generations, Gen Xers and baby boomers exhibit far more financial confidence, thanks to their higher salaries, employer-sponsored retirement plans, and years of soaring markets, which enabled them to plan their financial future.

A Sea of Financial Traps

Another reason why the financial prospects of millennials are less than those of their parents is that they often make bad investments. The quest to live in the here and now and to enjoy life to the fullest has millennials spending money they don’t have to buy items they don’t need.

For instance, some millennials consider buying a new car as against a used one a status symbol. Same goes for luxury cars, expensive houses, premium cable package, leased cars, etc. It’s either these or they are overspending or living a frivolous lifestyle that makes it harder for them to put money toward their top priorities.

The lack of basic financial education also comes at a cost, as does lack of financial goals, their spending without a plan, falling for scams, taking on more student loan than is necessary, rushing into investing or not investing at all. All of these issues delay the ability millennials to secure their financial future. Even worse, it makes them more susceptible to economic vulnerability.

Staying on Track

Millennials will do well to consider measures that will help them climb out of debt quickly, especially if they are to make progress towards their financial goals of building a stable future. Good thing is, they have time in their favor, and so can make the most of that time to improve their finances.

To stay on track, one should first of all design strategies that will prevent them from falling into the bad habit of spending too much or living beyond their means. If you’re the kind of millennial who doesn’t have much or is in debt, your goal should be to earn more and spend less.

This means cutting costs, saving a certain amount every paycheck, establishing a side hustle, having a realistic budget, and buying only the things you need. Also, you should consider hiring a finance expert to help you set financial goals and advise you on how best to invest your money.

About investing, you might want to avoid investing in depreciating assets like cars, which tend to lose 75 percent of their original value within the first 3-4 years. Don’t put a brand new car in your garage if you think that will strain your budget. Instead, consider getting a used car and saving the balance or investing it in a profitable venture.

 

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Essential Information For Real Estate Investing

Where To Begin Investing in Real Estate

There very well may be more pieces of advice pertaining to real estate investing than there are pieces of property available. While land is limited, opinions are not. Because dumb luck isn’t dependable, the best piece of advice is to make sure you understand the basic principles of a good real estate investment. Here are some essential tips to increase your chances of profiting.

Learn Everything You Can About the Location

Emerging neighborhoods or established areas that are growing or becoming trendy represent good opportunities. Don’t get swept up in hype and overpay if you’re late on the scene, however — prices may have peaked. Still, location typically is even more important to investing success than the condition of the actual property. Also research income, employment and age demographics — and even local crime rates.

Adhere to the 1 Percent Rule

If the primary objective of your investment is to generate rental income, the monthly rental income should be no less than 1 percent of the purchase price (e.g., a $250,000 property should rent for at least $2,500 a month). This will create an annual 12 percent return — minus overhead, of course (repairs, taxes, etc.) — and typically lets you recoup your initial investment in a reasonable timeframe.

Understand Taxes and 1031 Exchange Opportunities

Taxes are complicated. Property taxes will offset some of your revenue. Your income taxes may be further reduced by a property depreciation write-off. An investment strategy called a 1031 exchange also has tax implications, allowing you to defer capital gains taxes when you sell one investment property and re-invest the proceeds in a subsequent investment property. Consult a tax professional for help with these scenarios.

Here are more basics that are less complicated, but still important:

  • Understand the big picture. Track the performance of the U.S. economy as a whole. The best real estate opportunities may present themselves during a recession or the initial stages of recovery.
  • If you have a real estate investment portfolio and not just one property, spread the risk among different industries and locations.
  • Have a plan. Outline both short- and long-term goals before getting started. Have a budget and an ownership timeline in mind, especially if you are rehabbing a property.
  • Trust experience. Talk to other investors, join real estate investment groups — just don’t rely on any sources making get-rich-quick promises.
There are no guarantees when it comes to real estate investing, but sticking with tried-and-true principles beats flying blind. For more tips, see the accompanying infographic.

 

Author bio: Dalton Sullivan is Associate VP at Precision Global Corporation, a venture capital company. Sullivan has vast knowledge of 1031 exchanges as well as senior housing investing. He has a passion for business development, real estate investing and building lifelong, professional relationships with investors.

 

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3 E-commerce Trends You Must Prepare for in 2019

 

So what’s new in 2019?

Apart from a few technological novelties, the main prediction for this year is that there will be no big surprises in the industry. The journey will be smooth for both retailers and their customers, and we’ll finally get to reap the results we’ve started predicting a couple of years ago. In other words, this is your last chance to jump in on the trends established in 2018. Wait for the new ones to emerge, and you’ll be missing a huge opportunity.

Here’s what to invest in ASAP.

  1. Social Media Conversion

87% of customers say that social media help them decide what to buy. Though other social commerce statistics are just as staggering, you don’t really need them to confirm what you already know. You are a customer yourself, the same as you are a social media user. 2.77 billion of us are. But just in case you are a rare social media ghost (SMG), here’s another crucial fact: 90% of followers try to reach out to brands via social media. And why wouldn’t we? Social media networks such as Facebook, Twitter, Pinterest, and Instagram are already such an important part of our everyday lives. We use them as communication channels, news sources, collaboration tools, and entertainment platforms, all at the same time.

Why wouldn’t we use them for shopping too?

Convenience, real-time accessibility, and 24/7 availability are the three fundamental pillars of social commerce. They allow us, as customers, to browse products and services without tab-switching. To e-commerce brands, they offer a clean, split-second, on-the-spot conversion. It’s a no-brainer, really. If you’re not selling on social media, you’re not doing e-commerce right.

Here’s how to leverage social commerce in 2019:

  • Add a Shop Now Button to Your Facebook Page

The most popular social network now allows you to list products directly on your Facebook page, along with a convenient Shop Now button for instant conversion. You’ll need to connect your PayPal account as well, but all this takes minutes to complete.

  • Post Shoppable Content and Stories on Instagram

Because Instagram has been acquired by Facebook back in 2012, the on-site conversion options are pretty much the same on both networks. You can add a Shop Now button to the images and videos you post, as well as on your carousel ads and stories.

  • Use Buyable Pins to Boost Pinterest Conversions

A Shop the Look Pin on Pinterest doesn’t differ much from Facebook’s button. Only instead of Shop Now, it says Buy It. The CTA is very effective in both cases, but the payment system is not the same. On Pinterest, customers can use Apply Pay and credit cards.

Immersive Experiences

The power of social commerce lies in engaging visual content and CTAs. When taken together, these two elements offer unmatched convenience. But one thing social media cannot provide is a lifelike experience that enables you to try products and services. You know, like in brick-and-mortar stores. In fact, the inability to see, touch, smell, test, and try out products pre-purchase has long been the only disadvantage of e-commerce. Until now. With the advent and commercialization of VR and AR technology, online shopping has taken a huge leap forward. Take IKEA, for instance. The company’s Place app relies on AR technology to provide customers with a sneak peek of how IKEA products would look in like in their own homes. This fully immersive customer experience is pretty revolutionary stuff that you’ll need to compete with in 2019.

  1. Amazon Advertising

The third e-commerce trend for this year indicates that you’ll need to include an Amazon Advertising course to your corporate training software and that you’ll need to that soon. For 68% of customers, surveys say, Amazon is the only online shopping site that matters.

Not enough to convince you? Then consider this:

80% of online shoppers scroll through Amazon reviews before they make a purchase. You can hardly succeed on Amazon if you don’t get serious about advertising on this platform first, which is why we’ve compiled a short list of three tips for implementing this marketing strategy into your overall e-commerce goals. Pay close attention:

  • Follow Amazon’s Best Practices

Make sure to meet Amazon’s guidelines when creating content for your brand’s product detail pages. Avoid heavy blocks of text and use attention-grabbing imagery to boost your conversion rates. Also, conduct a competitive analysis and borrow the most effective practices.

  • Use Multiple Amazon Ad Types

There’s AMG, AMS, AAP/DSP, and ACoS. Other Amazon ad types include sponsored ads, display ads, and video ads. Use as many of them as you can to increase your daily Amazon sales, as this will get your products ranked higher on Amazon’s product listings.

  • Master Amazon Search Terms

Forget everything you know about keywords and Google-based SEO because these rules don’t apply on Amazon. The platform has its own searchability system based on so-called search terms. Learning how to use them is crucial for effective advertising on Amazon.

Wrap Up

Social commerce, mixed reality technology, and Amazon Advertising will rule online shopping in 2019. As e-commerce concepts and trends, they are not new. The only novelty is if you don’t learn how to use them now, you may not get another chance in a year.

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Russell Ruffino Challenges Price-Based Advertising Model

 

For many small businesses, price wars become a dilemma. At the end of the day, business owners often believe that advertising low prices will bring droves of new business through the door. Nonetheless, Russell Ruffino challenges this concept, and has done so with smashing success.

Who Is Russell Ruffino?

Before we get into why price-based advertising simply isn’t the way to go these days, it’s important that you understand just who is behind this idea. Russell Ruffino was your average Joe. Working as a bartender for $500 per week, he was in the midst of the rat race, working paycheck to paycheck at a job that he simply didn’t enjoy anymore.

After several years in the rat race, Ruffino was fed up. He was ready to do something meaningful with his life, and soon, walked away from his job. In doing so, Ruffino founded Clients-on-Demand, which quickly grew to become a multi-million-dollar company. Today, Ruffino enjoys a level of success that most can only dream about, and he has gotten there by challenging the status quo in everything that he has done.

Russell Ruffino Is Onto Something With Price Based Advertising

In following Mr. Ruffino, I’ve learned that there are several problems with allowing your business to get involved in the price war. Among the largest are:

The Types Of Customers That You Will Attract :

When your advertising is centered around the price of your product or service, the people that you are actually targeting are bargain shoppers. Sure, it’s great to make a sale, but are bargain shoppers really the types of customers that you want to tailor to.

Think about it, the bargain shopper may be brought in by a great ad about a great product at a great price. However, when you price your product or service at a bargain, you’re not making very much money with each sale. So, you quickly become reliant on repeat business from those that see your ad.

The problem with that is that most bargain shoppers simply aren’t loyal. If they can save a dollar going to your competitor and buying a product or service of lesser quality, they generally will. So, you find yourself going through a constant revolving door of paid ads, small earnings and a need to produce more paid ads to generate more pennies.

Customer Service Becomes Inadequate :

When running your business based on the price of your service, you may drive quite a few new customers through the door. However, you’re not going to make much money from each customer. So, your business quickly becomes a volume business. That sounds great, but volume isn’t a good thing.

Russell Ruffino explains that by pricing your product or service higher, you will have the opportunity to make more money with each customer. As a result, you will have more time to spend with each customer, giving you the ability to provide the top-quality service that high-end clients expect to see. This ultimately leads to repeat business and referrals of other potential high-end customers.

So, How Do You Find Clients That Are Willing To Pay The Big Bucks?

Believe it or not, this process isn’t quite as difficult as you may think. In fact, finding the high-end clients that can take your business to the next level is as simple as making a few ads on social networks with fine-tuned targeting.

The idea here is not to target the masses. Instead, it’s important to target people that actually need your product or service. For example, if you’re a business consultant, instead of advertising to everyone, go to social media and only advertise to business owners, CEOs and other members of upper management. By tuning your ads to your high-end customer base, you may pay a little more on a pay-per-view basis, but you will have the benefit of knowing that everyone that sees your ad has the potential to be a meaningful customer.

Final Thoughts

If you’re a small business owner that is getting tired of the price war, it’s time to walk away from it. Instead of competing based on prices, it’s time to compete based on quality. Simply provide the best product or service that you can, and when you do, target your marketing efforts to those that are in NEED of this product or service. In doing so, you can escape the price war and start increasing your margins, allowing you to provide better customer service, improve your opportunities to scale, and stop wasting time on customers that simply aren’t going to make you the big bucks.

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Futuristic Plans For Delivery Systems

Jeff Bezos, Amazon’s CEO announced pretty surprising news to correspondent Charlie Rose. They spent at least 60 minutes talking about different projects, after which Jeff took Rose into a mystery room at the headquarters of Amazon. It turned out to be the room keeping the secrets of the so-called Octocopter R&D project. These are drones which are designated to fly packages directly in front of your doorstep. And, the shocking announcement – this will happen in about 30 minutes.

Of course, this is an audacious plan, and it’s going to require a lot more safety testing and specification analysis than FAA approvals. However, Jeff is positive that this delivery by drone system is going to be integrated and implemented in about 4 to 5 years from now. Customers will be capable of taking advantage of the so-called “Prime Air” service – this is how Amazon wants to name it.

A Moment of Surprise

When Charlie Rose walked into the R&D room and managed to see the drone which was the initial design for the Prime Air program, he was utterly excited. It was quite clear that Amazon representatives are looking for a new sensation to bring in front of 60 Minutes, but the achievement was genuinely surprising and impressive.

60 Minutes even reported that the CEO of Amazon himself built up the surprise during the actual breaks of the filming of this particular segment. He even teased reporters by asking them to guess what the surprise actually was. If they had guessed it, Bezos would give them half of his fortune and send them off directly to Vegas, he joked.

Further Development

After the utter surprise, Jeff also played a demonstration video for the team of 60 Minutes which showed the entire process of the picking up and dropping package by the drones. They used small yellow buckets from the fulfillment centers of Amazon and would whiz through the air in order to deliver different items to separate clients no more than 30 minutes after the latter had clicked on the buy button on the website.

The technology is particularly amazing, and it could be a revolution in the delivery business. Not only is it going to make delivery positions excessive and unnecessary, it’s going to automate the entire segment, hence allowing companies to be a lot more flexible. This is also going to benefit the end customer a great deal by ensuring timely deliveries and absolutely no hassle, whatsoever. With all this in mind, it’s important to understand that this could truly be the next big step in the delivery niche.

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7 Sercret Strategies to Take Your Small Business to the Next Level

Every business starts out as a small business but not every business makes it to a big business status. Here’s what you can do to ensure that yours does.

As an entrepreneur you’re the proud owner of a small business. However, you don’t want your business to remain “small.” You want to see it make it to the status of a big business. Fortunately, there are some things that you can do to help ensure that your business successfully does this.

Step up Your Marketing “Game

Marketing may not seem enjoyable at the moment, but when you take a closer look at this process. You can find ways of making it more enjoyable. This is important for you to do because marketing is one of the main things you’ll do to propel your business on to bigger and better things – like becoming a bigger business. It’s at the very heart of achieving success. Fortunately, there are many great ways for you to engage in digital marketing today (e.g. hiring a company to do the work for you). What’s important though is being successful here.

Be More Productive

It’s good to have a routine that includes the various tasks you must accomplish each day so your business runs smoothly. The more effective you are at accomplishing these things which you can’t delegate, the more potential there is for your small business to become even more successful. One of the best ways of making this happen is by developing systems to streamline these processes.

Place More Focus on Customer Service

Your business’ continued success also requires you to be able to retain “desirable” clients. Having regular clients means you’ll have income you can depend on. The fact that these clients are happy with the products or services you’ve been providing also means that they’ll provide you with powerful word-of-mouth marketing. This is something that only happens when you become more focused on customer service though. Some ways of doing this are by:

  • Not only asking for feedback but acting on it
  • Quickly and thoroughly addressing any complaints that are brought to your attention
  • Making sure that you’re always available for your clients and accountable to them as well

Learn from Employing Experts and Delegating Tasks to Them

One of the biggest tasks you must face when you want to take your business to the next level is finding the right people with the right skills, experience, and expertise to help you get there. Sometimes this means that you must hire someone who has these characteristics and can help propel your business forward. When this happens, you’ll need to give up your hold on every area of your company and allow them to lead in this area instead. This is known as delegating and it’s a great way to take your day-to-day jobs and have someone else handle them so you can concentrate on other key areas of growing your business.

Another thing you can do when you open up part of your schedule is spending more time learning and developing your business knowledge. Whether this means following through on good practices or staying on top of developments that are happening within your niche, this is time well spent. You can delve into reading books, completing some online training, attending conferences, or networking.

Be Committed to Always Learning Something New

If you want your business to thrive, you must continually want to learn more about things like marketing, the evolution of today’s business environment, and your specific niche too. The use of conference speakers is one of the best ways of making this happen. They can be found online and even in self-paced programs. Of course, there are also other ways of learning new things like through mentoring, reading, and attending various workshops.

Remain Up-to-Date with Technology

Technology is interwoven throughout your business. As a small business owner you’ll benefit from understanding how this technology impacts you and how it changes. Armed with this information, you’ll be able to make better decisions for your business. You’ll also be able to save yourself time, money, and other important resources

Have Goals and a Vision That you Assess Regularly

As you work to take your business to the next level, make sure you have some goals to guide you along the way. This is the best way to measure the progress you’re making while also keeping track of the achievements you’ve already accomplished.

Additionally, you need to clarify your focus so you can find ways to push and challenge yourself. The best way of doing this is by creating a vision for where you want your business to be in 2 – 5 years from now. To do this you must first determine what your business’ unique selling point is – what makes your business unique and helps your products or services stand out from your competition. This will help you determine how you will grow your business whether this is by attracting new clients or expanding to include another niche. Of course, a lot of this will depend on your finances. Some viable options here include acquiring a business development loan from your bank and finding an investor to support you. Once you determine these things, you’ll want to make an amendment to your business plan so that it will reflect your vision, goals, and growth assessment strategies. Doing so will also help you plan so that when the unexpected happens you’re ready to deal with it head on.

Conclusion

When you heed these tips, you’ll find yourself well on your way toward success. Fortunately, there’s nothing too hard here. While it may take you a little time, this is time that you’ll want to invest in your business anyway. At least now you’ll know how to invest it in a way that will offer you great paybacks. Take the time to schedule some periods throughout your week in which you can spend time doing these things. While you may want to argue that there isn’t any time for you to do these things, honestly, you’d be surprised to find a few minutes occasionally, in places you least expect it and you’ll appreciate this since the reward is very worthwhile.

Author’s Bio:

Mila Jones is a Senior Business Consultant, with rich experience in the domains of technology consulting and strategy, she works with both established technology brands and market entrants to offer research inputs and insights on leveraging technology as a source of strategic competitive advantage. She is a prolific author and shares her expertise with tech enthusiasts on popular digital publishing platforms. She loves not only to write about several topics but also loves to explore new ideas about Lifestyle, Travel blogs and many more.

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Start a New Company With This Easy Guide

Starting a small business of your own, especially if you do it online, is easy to do and can make you a good amount of money. Open up a niche shop in your area, and you might even be able to take it on in a full-time manner and succeed all on your own. The best part is that thanks to the power of the internet and the prevalence of online shopping, you can create this new business venture right at home.

Do Market Research

With every new company, you want to do your due diligence. For one, you want to know what the market is like, who your competition is, how to sell online, how to market yourself, and so on. It is also worthwhile to understand what your legal and financial obligations are before you get too carried away. You might not need to pay a special tax until after you have made money past a certain threshold, for example. In that case, you would only need to declare your profits as part of your income and pay tax as you usually would.

Create a Business Plan

Having all the information in the world won’t help you actually put a business together. That is why this next step is so important. Creating a business plan means creating a realistic strategy on how you plan to start, run, and succeed with your new company. You will need to use the information you have gleaned during your research to create a sound business model that will work logistically and bring in customers.

Save Up Money

When starting a side business the last thing that you want is to take out a loan. That being said, you absolutely do need to know where you can get a payday loan in case of emergency. Not knowing where to go to cover an emergency repair, like to your laptop, for example, could put your company down and out of business. Alternatively, having a personal emergency could result in your business funds being taken out, bankrupting your company in an instant. In these cases, it is best to take out payday loans or bad credit loans and try to pay them back as soon as possible.

Create Your Website and Marketing

With the money you have saved, you can then set up a professional looking website and acquire the necessary marketing tools. In some cases, you could forgo the website itself (for example, if you are planning on using a seller marketplace). Where your money would go instead then is in investing in a professional studio setup. If you sell products, you will want great looking photos that will both sell and show the customer the product itself from several angles. If you are selling a service, however, a great website will be your priority instead.

Build Up Your Reputation

Last but not least you will want to build your reputation. You can do this through excellent customer service, by engaging with your followers and community, and of course by collaborating with others in your niche. People are wary of buying from new sellers online because of the inherent risk, but by building up your name this way you can assure them of your professionalism and trust.

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4 Huge Biotech Breakthroughs That Will Revolutionize the Health Industry

During the past few years, we have seen a massive innovation in the field of biotech that provides countless benefits on various industries. We witnessed how the farmers have increased their annual harvest by making the crops highly resistant against disease, insects, and others. This innovation has extended in the health industry by combining technology with biology in order to extend, improve or perhaps restore our life.

Here are some of the most recent advances in the world of biotech that will revolutionize the field of medicine

1. Spit-Tests for Cancer

A group of researchers at University of California have successfully created a device that can identify an oral cancer by testing only a tiny drop of saliva from a patient. Taking an extensive and costly biopsy is now virtually eliminated. It has the capacity to identify protein that is related with the cancer cell by reacting with the dye located at the sensor. With the use of a microscope, you will be able to detect the luminescent light that is being emitted by the specimen. Some expert also noted that the same concept can be used to identify various types of diseases.

2. Prosthetics’ Feedback

One trouble that is evident in prosthetic is that it is quite difficult to monitor. Those who have complete limbs know where their limbs are even without monitoring them; unfortunately, you cannot say the same thing about the amputees. This is because our skin is a sensitive gland. It has the capacity to detect even the tiniest change in the intensity and direction. To address this issue, Karlin Bark from the Stanford University is designing a device that is intended to stretch the skin to create that ‘feedback’ on the movement and the position of the amputee’s limb.

3. Contact Lens

The risk of having glaucoma increases as the pressure inside our eye build up which can eventually damage our retina. The University of California has designed contact lens comprised with conductive wire that will constantly monitor the fluid flow and pressure in our eyes. It will then transmit its findings wirelessly in a small device. The data will be essential to help the doctor to understand your disease better.

4. Speech Engine

For individuals who have lost their speech ability, Ambient Corporation has designed a speech engine that will allow you to produce audible voice. It utilizes electrodes that have the capacity to detect signals travelling on the brain and into our vocal cords. The patient will simply imagine a word then the signals will be transmitted into the computer which will generate the speech.

There are so many incredible things that are currently happening in the world of healthcare and medicine. These are some of the great advancements and development that will further improve the field of medicine in the future.

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