It doesn’t matter if you’re beginning the process of starting a new business, or if you’re already well established, having a strong online presence is incredibly important. Today, consumers tend to learn about local businesses online even if you have a physical brick-and-mortar presence. They want to know what you have, is it in stock and how much it is. If your website isn’t telling them all that, or they can’t easily find you online, you are missing out.

But how do you know where to spend your marketing dollars? How do you know what works and what doesn’t

Small business owners who are looking for a way to keep track of their return on investment (ROI) and/or brand awareness need digital marketing. Today, there’s specific marketing for almost every industry – from law firm marketing for attorneys to ecommerce marketing for stores. Digital marketing isn’t only a need when it comes to promoting services and products, but it’s also critical for optimizing online assets so the business can be successful.

Let’s take a look at a few tips on how to develop your strategy.

Market Research

This is a critical aspect of developing your strategy for marketing. It has to do with collecting information that will provide you with an insight into how your customers or clients think, their buying patterns, and their location. Additionally, it can assist you with your initial sales forecast, monitor trends in the market, and help you keep track of your competition.

Profile Target Markets

Attempting to promote your service or product to everyone can be both ineffective and costly. 

Segmenting or grouping your potential customers (target market) based on a variety of characteristics can assist with focusing your efforts. Typically, this segmentation is based on things like where they’re located geographically, their gender, age, income, behavior, values, and lifestyle. 

Identify Your USP

Your USP, or unique selling proposition, is a unique reason for your customers to purchase from you as opposed to your competitors. It’s essentially what makes you stand out. It’s critical that you define what it is that you do differently as well as for you to convey that information to potential customers. Most of the time, this will reflect any unique skills or knowledge you have. 

Marketing Avenues

There are quite a few avenues available when it comes to marketing, and you need to consider your target market and which ones they might be exposed to the most. Some of your options include things like:

• Business website
• Affiliate marketing
• Blogging
• Networking events
• Word of mouth
• Letter drops
• Social media
• Flyers and brochures
• Print advertising
• Cold calling

Budget and Goals

Marketing goals are a must or you’ll just be treading water when it comes to your results. These goals need to be SMART – Specific in terms, Measurable in outcome, Attainable and realistic, Relevant, and Time-based. If you miss any of these criteria you’ll be back to square one and won’t know where your money is going.

And speaking of money, you’ll need to give your marketing activities a budget. This spending plan needs to include the following elements:

• Website maintenance and development
• Branding design
• Advertising
• Employment of staff to accomplish marketing activities
• Strategy for search engine optimization
• Printing of a variety of promotional material
• Sponsorships and donations

Start Marketing the Business Today – You Can’t Wait

You more than likely have quite a long road ahead of you if you haven’t already established a presence online. However, any steps you can take will have a massive impact on your overall business. Some of the steps, such as blogging, will definitely take at least a few months to begin kicking in and attracting traffic, but things like pay-per-click ads and social media posts can have near-immediate effects. If you still aren’t sure which direction is ideal for you, brainstorm your ideas with a focus group or marketing team to see which ones might be the way to go.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Tips for Developing a Marketing Strategy appeared first on OpenBusinessCouncil Directory.

Taking risks is an inevitable aspect of running a business. As the saying goes, “Nothing ventured, nothing gained.”

While taking chances comes with the territory, that doesn’t mean it’s okay for business owners to be careless or reckless. If anything, the high stakes involved mean business owners have an obligation to mitigate risk and practice due diligence as much as possible.

The truth is every small business owner is only one or two mistakes away from potential failure. While accidents happen and mismanagement is unavoidable, certain mistakes are hard to come back from – if not impossible.

With this in mind, let’s take a look at seven mistakes that can tank your business:

Employee misclassification

Governments around the world are cracking down on the gig economy. Business owners relying on freelancers and independent contractors may discover the government recognizes these workers as traditional employees. Fines and penalties may follow. The solution – especially for companies with a large percentage of overseas workers – is to work with a third-party payroll service. Doing so means hiring foreign independent contractors won’t come back to haunt your business. It also means business owners can worry less about pesky payroll problems.

Unethical practices

When it comes to business success, reputation means everything. Companies that mislead customers, create a toxic work environment, and do other shady and unethical things will not last long. People – whether they’re employees or customers – never forget a thing like that. No matter how tempting it might seem, never, ever, allow your company to stoop so low as to cheat and lie in order to churn a profit. If you have to be unethical to succeed, you shouldn’t be in business.

Bad accounting

When it comes to business accounting, ignorance is no excuse. In other words, just because you’re not a natural whiz with numbers doesn’t mean it’s okay to let your bookkeeping go by the wayside. Poor accounting is practically an act of self-sabotage. It’s like if your doctor gave you test results he decided to make up on the spot. It does nothing but conceal the existence of a ticking time bomb. Sooner or later, bad accounting will bubble to the surface, revealing financial losses your company will struggle to overcome after going so long without knowing they exist.

Tax problems

Bad accounting almost always leads to tax problems. That’s because Uncle Sam (or your country’s equivalent) will come calling once they detect the potential for accounting inaccuracies. The added business tax owed, plus fines and penalties, can easily cripple even the most established of enterprises. The government may even go so far as to shut your business down due to unpaid tax debt.

Absent leadership

Few things prove as inspiring as great leadership. With this in mind, the apparent absence of leadership can cause employee morale to plummet. Business owners who spend more time away from their company than they do getting involved with its operation run the risk of having the bottom fall out of their venture without them even knowing.

Poor communication

Another sign of impending business failure is poor communication between departments and employees. While there’s something to be said for keeping teams separated from each other, a prolonged sense of being left in the dark can lead to diminished morale among staff. The best way to thread the needle is by arranging weekly updates – either through email, meetings, or both – to ensure everyone stays on the same page, even if they’re not privy to all the content on the page.

Defensive reactions

Do you want your company to operate the best way possible? If so, listening to middle management is essential. Business leaders that get defensive whenever they’re given less than ideal news are making their organizations weaker. Sticking your head in the sand will never solve the problem. When bad news hits – and it eventually does – business leaders can either react with practical problem-solving solutions or act like nothing’s wrong. One road leads to business success and the other heads to failure.

Taking risks is one of the costs of doing business. But unforced errors and bad management practices are not risks – they’re hazards – and business owners have an obligation to eliminate them. Failure to do so will almost always lead to business failure.

Julie Steinbeck is a freelance writer from Florida. She enjoys covering topics related to business, finance, and travel.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post 7 Mistakes That Can Tank Your Business appeared first on OpenBusinessCouncil Directory.

Put Business Idea on Paper

What is your vision and mission for your business? How will you make money? Who are your target clients? These are all the basic ingredients of a good business plan. Putting your business idea onto paper and creating a plan makes it more real. It helps you hash out details and think through critical aspects of business processes. You can even write down information about competitors, and put options for different vendors in the plan.

Create Proper Business Structure

Once you have a plan, you’ll need to work with your state to register your business. Will you have shareholders? Will you have members? You’ll need to work with a business lawyer if needed to create your business structure. This structure becomes the legal entity that all your business dealings will come out of. Creating this structure accurately has a lot of legal connotations and benefits.

Secure Capital

Business owners mistakenly think that it’s impossible to get money to start up or grow a business. While it might take some time, grit, and perseverance, there are a number of ways to secure capital for your fleet car or truck business. When you have a unique business plan and concept that meets a specific need, you are more likely to get investors or banks to lend you some money. Investors will want a portion of the profits, but lenders just want their money back with a little interest until it’s paid off.

Make Sure You Have All the Permits You Need

Running a fleet business does require some extra steps. There are permits and regulations you must follow in order to operate this kind of business. You’ll need to find out if you or your employees need a CDL, USDOT Number, and more. These different permits allow you to operate your business. Additionally, verifying you have the correct permits to travel between states is also critical if any of your fleet drivers will cross state lines.

Get Insurance

You need business liability insurance, insurance to cover the cars, insurance to cover the employees, and more. It’s important to think through all your assets and liabilities to ensure you get adequate coverage from your insurance company. Each car should have coverage that will pay for the replacement cost, damage to other cars, injury to your staff, and injury to other drivers and passengers as well.

Decide on Cars

Now you can start getting to the fun part. Deciding on the cars or vehicles that will work best for your fleet business is critical. Will you be delivering goods? Will you be transporting people? These of course will play into the kinds of vehicles you invest in. Your budget will also play a role. Additionally, if your fleet business will be focused on providing transportation to individuals

Business Processes

Processes can help you run your business more efficiently on every front. What are your best practices for onboarding new employees? How will you onboard new customers? How will you manage maintenance and other important repairs? Additionally, looking at things like how your company will pay for gas while your drivers are on the road is also important to think through. One option is to have the employees pay with their own credit cards and then get reimbursed. Another option is to use fuel cards for businesses that only work for those specific expenses. Your business processes can be refined as you go, but knowing the important tasks that must happen to make your business run and creating a plan to make it happen is critical.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Starting a Fleet Car or Truck Business Isn’t As Hard As You Think appeared first on OpenBusinessCouncil Directory.

Here are some simple tips to properly maintain your industrial machinery:

Keep a Log of the Machine’s Usage and Maintenance

When you keep a log, you will have a reference in case something happens. Updated logs also allow you to avoid repeating previous work and maintenance activities.

Always Carry Out Routine Inspections and Maintenance

Routine inspections help you to fix problems before the machine will be in the worst shape. Most accidents happen not because of mechanical failure but neglect of regular inspections and maintenance.

You must pay attention to belts and chains since they can easily lead to severe problems such as belt fracture, failing brakes, collisions, and power transmission defects. Regularly check all of these for wear and tear.

Check for any cracks or leaks in the seals and repair them as soon as possible. This will prevent more severe damage to the machine and save you a lot of money in the long run. A small crack can lead to leakage or, worse, hydraulic fluid loss, which causes numerous problems for your equipment.

Do a Thorough Inspection After Long-term Use or Long Periods of Idleness

Through these inspections, you can find wear and tear in time to prevent further damage and extend the life of your equipment as much as possible. Do not forget that it is easier and less costly to replace a small damaged part than replacing a whole damaged unit. Therefore, proper inspection becomes essential for maximizing machine performance and minimizing repairs costs.

Check for Lubrication Problems

Make it a habit to check the lubrication of high-speed spindles and motors before every use. If these are not properly greased when running at high speeds, small chips may be thrown off that can cause machine damage and major human injuries. Do not forget to periodically change grease as well.

Always Use High-Quality Lubricants

The application of high-quality lubricants will reduce wear and tear on machine parts, extend service life, and prevent untimely breakdowns. Remember to replace them when they are worn or if the color has changed as indicated in the manuals.

Be Mindful of Your Industrial Machine During Operation

Watch out for malfunctions in equipment during operation. Machine malfunctions may occur at any time when you are using industrial machines. Even a slight malfunction can lead to abnormal operations, which is likely to cause more problems. Therefore, pay attention even when your machine seems to have been running smoothly for a long time and make sure that your workers know how to shut down and properly secure machines in case of emergencies.

In addition, if there is a power interruption, inspect all bolts, screws, nuts, and other fasteners before putting the machine back into operation. This is an essential step for preventing accidental falls, serious injuries, and damages to the machines.

Clean the Machine and Replace Worn-out Parts

Cleaning and replacing worn-out parts will prevent the machine from failing and, thus, prolonging its service life. It can also help you to reduce maintenance costs.

An ounce of preparation is worth a pound of cure. Being on top of your equipment means knowing what parts tend to wear out including parts that may need changing when circumstances happen and surprise you.

Being prepared is having the parts available before you actually need them. If you can predict what parts will need replacing you can get a head of it before it causes a problem in your manufacturing process which could cost the business a lot of money if you can’t use the machine.

Take the time to research and find the parts and have them on hand. You may need a quote for structural components beforehand so you can plan better and budget.

Resolve Problems Quickly

Remember, minor issues will become large ones if they are ignored. Additionally, do not leave heavy machinery in an unstable state, such as with loose power cords or lifting equipment without locks engaged. Such negligence can lead to serious injuries or accidents. Resolve any problems as quickly as possible to keep your machine in tip-top shape.

Workers must be aware of potential hazards and work safely, especially when running heavy machinery with dangerous movable parts. Ensure everyone’s safety by reinforcing the safety measures you set up during machine inspection. Utilize these tips to help you reduce costs and save time for machine servicing and prevent accidents that may cause fatalities.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post 8 Useful Tips for Your Industrial Machine Maintenance appeared first on OpenBusinessCouncil Directory.

Size And Weight Restrictions

Certain couriers will have dimension and weight restrictions which will mean they will not accept certain packages. Before you choose a courier, you should contact them to find if they will ship your product around. Some may accept without question, whilst others will charge a more premium price.

You should pack your product into the best size possible. This will not only give you more shipping options, but it could reduce shipping costs and size. Depending on your business, it’s generally a good idea to look into some form of eco-packaging solution.

Finding The Right Availability

One of the most important elements of working with an efficient courier service is to get your package out to the customer as soon as possible. That is why you need to find a courier service that delivers as soon as possible. Many different courier businesses may offer services ranging from next day to a week, depending on the location.

If you want to gain customer loyalty and trust, then you want to ensure you are getting their product out to them as soon as possible. It will also need to arrive in the condition it left, otherwise you will have an upset customer who may not wish to buy from you again.

When choosing a courier service, you should look into a service that enables overnight shipping, to help get the best results. Lone Star Overnight are one such fast and reliable courier who offer a range of shipping services to suit your business needs. They can work overnight to ground shipments to get your package out by 8:30am the next business day. They have a range of different services from priority next day, to international services.

Costs And Insurance

You need to ensure that it is cost effective for you to send out a package. Some states and countries will have higher costs for them to reach, so you should work with a service that limits these costs that still ensure you make a profit. Some couriers will offer an insurance deal that helps protect you and your customer if they were to lose anything.

Most couriers will have some sort of insurance policy to help attract you. If not, there are courier protection policies that you can get separately to help cover you incase anything gets lost. The insurance commonly covers complete loss, to accidental breakages. Some couriers will offer a money back guarantee.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post How To Find The Right Courier Service For Your Business appeared first on OpenBusinessCouncil Directory.

So, although entrepreneurship is more challenging, it is also more rewarding in the long run. It promises to give you a more creative way to improve your standard of living and significantly increase your wealth.

As an entrepreneur, your focus will be on driving innovation, introducing new and improved products or services to the marketplace. This is the right path for you if you prefer to lead rather than follow, innovate and disrupt the status quo, and do things your own way rather than conform to norms.

Here are five ways to get better at entrepreneurship.

1. Understand Credit

As a businessperson, it’s essential that you learn how credit works. You must get good at managing credit to flourish as an individual and as a business owner.

Working with a financial service company that gives you free information about a variety of debt relief programs will help you if you want to pay off your personal or business debts faster.

2. Get Better at Networking

In the digital era, networking still works. In fact, it works better than before. Previously, networking was location-based. Now, you can connect with anyone anywhere at any time through the Internet.

One excellent way to network is to join the Open Business Council to sharpen your entrepreneurial skills. When you join a global business network, you can find business partners, access innovations, improve your cybersecurity, educate yourself and your team, and get business coaching.

3. Set Clear Goals and Make an Excellent Business Plan

You can set clear goals by first identifying your own interests and talents and then conducting market research to discover an unmet consumer need. Once you’ve discovered a great business idea, it’s advisable to work with business consultants with experience setting up solid business plans.

4. Hope for the Best, But Plan for the Worst

Without optimism, you won’t get far. You’ll lack the vision and motivation to make much progress. Paradoxically, you also must plan for worst-case scenarios so that adverse events don’t take you completely by surprise and derail your plans.

Here’s an analogy that might make this paradoxical idea clearer:

Imagine, for a moment, that you’re a master chess player who is playing at an international tournament. When playing your final game for the grand prize, you’re optimistic that you’re going to win because you’re a top-rated chess player, but despite your self-assurance, you’re also alert about what your opponent is planning on the board. While you’re busy dreaming up your irresistible checkmating combination, your opponent is also scheming an upset.

In business, your opponent may be competitors, or it may be the marketplace itself. Shrewd entrepreneurs anticipate some counterplay.

5. Build a Dream Team

When you hire highly qualified people who share your vision and assign them responsible positions, you are creating a business team. Just like a sports team, synergy is important for success. When everyone works together in a business, everyone shares their time and talent to create a startling business transformation.

You will achieve far greater results if you assemble a team. Depending on your business model, this team might comprise business partners or company executives. You will achieve superior results with a team rather than doing everything on your own, calling all the shots and directing employees on what to do and when to get it done.

The Path Less Taken

When it comes to designing your financial life, a path less taken is becoming an entrepreneur rather than an employee. Following these five steps will make it easier for you to flourish as an entrepreneur and build your own brand.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Entrepreneurship: 5 Ways to Win appeared first on OpenBusinessCouncil Directory.

For lab businesses, however, test and efficiency software can drastically improve the rate, quality, and ease of work that employees produce. Through complex mathematical modeling, targeted automation, and powerful computation, software like a liquid liquid mixing program can make a huge difference in improving workflow, along with providing the cost-savings associated with increased efficiency. Here are five ways that test and efficiency software can save a lab business money in the long run, despite the upfront cost of their purchase and integration.

Improves Productivity

The most significant consequence of using test and efficiency software rather than relying exclusively on conventional methods of conduction lab work is that these programs help to streamline the work process and allows for more work to be done in the same amount of time. Computers are able to carry out drastically more operations than even the most capable human beings in computational and calculational applications.

Although test and efficiency software can seem costly at first to deploy, the increased productivity over time will make up for the upfront costs and then some. In turn, it allows for greater and greater cost savings to accumulate over time, leading to better margins and higher profits overall.

Ensures More Accurate Results

Test and efficiency software can also produce mathematical models and calculations with far greater accuracy than an individual. For a business, this can help ensure that lab equipment is functioning at the optimal level, without the possibility of human error inherently involved in placing the burden of adjusting and monitoring equipment solely on employees.

Test and efficiency software can automatically monitor your equipment and adjust settings for the evaluation of different operations, as well as determine the safest method of operation for workers. The use of test software also allows you to quickly and easily compare between different laboratory systems and control the operation specifications to your preference. Automation in controlling equipment and operation processes is generally vastly superior that manually performing these tasks, which can help your business grow significantly in the long run.

Allows for More Efficient Use of Resources

Automated test and efficiency software also provide cost savings by helping to ensure lab equipment and processes are using resources in the most efficient way possible, minimizing potential waste from both inefficient processes and accidents, which often result in the erroneous process having to be reperformed.

By reducing the risk of human error, test and efficiency software allows your business to make the most out of expensive resources and helps to lower the need for redundant spending. Test and efficiency software also helps to save time, further reducing both resource and personnel costs, without any loss to the quality of the work performed when compared to traditional systems.

Lowers Costs of Employment

Another source of cost savings provided by test and efficiency software is in reducing employment costs. By automating certain aspects of lab work, you may be able to afford to hire fewer employees, reducing the burden of worker salaries on overall net revenue. Since test and efficiency software also helps to ease the work of existing employees and contributes to worker safety, lab businesses that employ test and efficiency software can also save money on the cost of hiring, training, and re-training new employees due to turnover.

Aids More Efficient Workflow

Finally, test and efficiency software can help reduce complications and disorganization in distributing and conducting work for a lab business. Traditional lab systems often require complicated teams of employees to oversee and ensure operations are being performed correctly.

By automating certain controlled aspects of lab work with test and efficiency software, businesses can expedite and simplify the organizational structure of employees at the workplace. This can allow for more efficient workflow, better communication between employees and management, and greater efficiency in the workplace. Efficiency saves money by both increasing revenue and decreasing costs, a benefit that is sure to accumulate and overtake the initial cost of utilizing test and efficiency software over time.

With the advent of automation and software-powered technologies, there is no doubt that technological advancement is the key to the future. Not only do lab businesses stand to save money by using appropriate test and efficiency software, by doing so your business can also take a step forward into the future and ensure your production process is up-to-date with the latest advances.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Five Ways Using Test and Efficiency Software Can Save You Money appeared first on OpenBusinessCouncil Directory.

Are you in the process of starting a business? Are you already in the early stages of doing so? Are you beginning to have questions and concerns about the costs that you continue to rack up?

Some businesses cost more to start than others, but all of them require some level of cash outlay. And for that reason, it’s critical that you plan as far in advance as possible.

There are a variety of miscellaneous costs to consider when starting a business, including but not limited to the following:

Consulting a Tax Professional

This is every bit as important as it sounds. If you don’t hire a tax professional early on, you could make mistakes that cost you a lot of money in both the short and long-term.

A tax professional can provide guidance, answer your questions, and ensure that you’re always making sound decisions on behalf of yourself and your business.

Find a tax professional you can trust and let them guide you through the process of starting and managing your business. 

Equipment

You never know what type of equipment you’ll need until you sit down and make a list. You may be surprised to find that there’s more on your list than you ever thought possible.

When deciding what type of business to start, focus on the types of equipment that you’ll need. This will ensure that you have the budget for getting what’s required to achieve your goals.

Tip: if you find that you can’t afford brand new equipment, consider the benefits of buying pre-owned. This can go a long way in saving you money.

Office Supplies

Office supplies have a way of adding up on you as the days turn to weeks and weeks turn to months. This is particularly true if you have employees. 

Office supplies come in many different forms, including but not limited to paper, printer ink, envelopes, pens, and pencils.

If you want to save money on office supplies, shop online. Adding to this, search for deals. You’re likely to find that some stores have a better price on specific items. And of course, when you buy in bulk, you’re able to save money.

Travel

As the COVID pandemic comes to an end, it’s safe to assume that business travel will begin to slowly pick up.

While you don’t want to get ahead of yourself, this is something to plan for in the near future. 

Travel expenses are nothing to take lightly, as you could quickly find yourself spending thousands of dollars. 

The most common types of travel expenses include airline tickets, hotel accommodations, and rental cars. 

Tip: by using a travel rewards business credit card, you’ll get something in return for every dollar you spend while traveling. You might as well take advantage of this if it fits in with your financial plans. You can also implement a real-time travel expense reporting through the use of a software to help you track all of your travel expenses. 

Entertainment

Just the same as travel, client entertainment is likely to become common again in the near future. And for that reason, you should set a budget and stick to it.

For example, you may want to take a new client out to dinner. Or perhaps you want to take a prospect to a sporting event with the idea of winning their business.

Entertainment costs can quickly add up, especially when you’re not paying attention to how much you’re spending. 

Be sure to set a budget and follow it closely. This will allow you to stay on the right track at all times. 

Final Thoughts on the Cost of Starting a Business

There’s no shortage of business resources you can lean on to determine how much it will cost—on average—to start a business in your industry.

In addition to the above, you may have other questions on your mind, such as:

• How much does a passport cost?
• What’s the cost of hiring and training a new employee?
• Can you save money by hiring contractors instead of employees?

No matter what type of business you’re starting, it’s essential to have a clear idea of the costs that you’ll run into. With the right knowledge, it’s easier to stay on budget as you get your company off the ground.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Miscellaneous Costs to Consider When Starting a Business appeared first on OpenBusinessCouncil Directory.

It is with no doubt that social media has become the ultimate marketing platform for most businesses. Starting from Facebook, Instagram, Twitter, Whatsapp, and other sites, you will find accounts for businesses trying to promote their brands. Why has the platform loved this much? There are many grounds why social media is the most preferred media for growing businesses. It is cost-effective, engaging, has high traffic, improves brand awareness, among other reasons. If your business doesn’t have social media accounts at this age, you are losing a lot to your competitors. Most brands have recorded massive growth through social media. Here are some reasons which make the platform the ultimate path to business growth.

It Improves Brand Awareness

s your business struggling with visibility? Maybe you haven’t tried social media marketing yet. Social media has proved to increase brand awareness for businesses due to its immense and active traffic. You will always be able to find active users on any social media site. In order to succeed, you need to create a detailed account for your business, share information about your products, network with others, and engage with your audience. Moreover, one social media platform that provides a wide range of marketing opportunities is Instagram. If you have a large following on Instagram then you can use this to your advantage by interacting with potential and existing customers. With this in mind, some companies now buy Instagram followers to give their accounts a boost in the early stages of a social media marketing campaign. Accordingly, you can learn more about how to purchase Instagram followers by researching growth services such as Upleap.

According to statistics, companies, and marketers who use social media for marketing their products get as twice sales as those who don’t. The best thing about it is that you don’t have to be present every time, every day. The website associated with Instagram Growthsilo.co mentions that as long as you are networking and putting engaging posts regularly, your brand gains awareness. 

It is cost-effective

If asked to name any cheapest marketing platform globally, social media platforms will definitely come top of the list. Why is it so? Social media is a cost-effective mode of marketing, if not free, and lets you engage with your clients without having to travel or use other related costs. To start with, creating an account and filling in your brand details is free. You can also do some free ads, which might not do as well as the sponsored ads. To get the best out of it, experts recommend using paid social media to drive growth. Even though you will be paying for these ads, its cost is lower than all other forms of advertising and gives you an assured business growth due to the high traffic and engaging audience. By investing in little cash, you are assured of high conversion rates and great returns on your business.

It lets you engage with your clients

In most marketing platforms, you only do the campaign and wait for the results. The case is different with social media accounts. You can run your marketing campaigns and get instant results with your brand or products. Through it, you can answer your clients’ queries, reply to their comments, know their concerns, and understand how your product performs in the market. Only a few platforms let you know this. The more you post and chat with your clients, the more you will create awareness of your business, and the more you will get clients, thus earning more profits. With social media presence, your brand will reach more audiences without much hassle. In most cases, if you market well, the audience will help you promote the brand through sharing and reposting your content.

It Improves Brand Loyalty

Most businesses have created brand loyalty through social media, and you can check this on accounts of the most reputable brands in the world. It makes your clients feel like to be part of the business by commenting, liking, and sharing posts, which leads to further engagements. Customer satisfaction and loyalty go hand in hand, meaning the more you satisfy your clients, the more they will adapt and engage with your brand online. You only need to create engaging posts and let your audience participate in the same. Besides introducing your products, it lets you do promotional campaigns to reward and engage fully with participants.

It provides healthier Customer satisfaction

Through networking and engagements, you can fulfill all your clients’ requests directly and in real-time without waiting for the same information from third parties. With it, you can raise the company’s voice and give your clients all the necessary information without it being distorted or getting lost along the way. A good example is when a client directly messages you, you can give them an accurate answer concerning their query and solve their issue there and then without waiting for any further information from other people. You can also engage your clients through posts, comments, reviews, and also provide your contact details on your social media accounts.

It gives you marketplace awareness

Marketplace awareness helps you engage with your clients, know their needs, and find ways to satisfy them. Social media is one of the consistent ways of doing so. You can observe your account activities and engagements and see your clients’ interests, opinions, online reviews, and any other thing that will help evaluate your business. It helps you get information directly, unlike when there were no social media accounts. You can also use the platform as a research tool to get all the information you need to improve your products and services and understand the industry at large. With a large following, you can apply demographics that let you know the most loyal audiences, their age, and location. With such, you can plan marketing campaigns as per the demographics.

It gives you more traffic to your website

Did you know that most online companies get their website traffic through social media platforms? Yes, and it’s traffic that converts. Here are some strategies to drive online business success. When you share content on social media, clients will want to know more about the company. Most of them follow website redirects or click the company’s website on the biography to find out more about its products. This means the more engaging content you share, the more traffic to your website. You only need to find ways to convert the traffic and get the best out of it.

With social media, you can create a brand authority over your competitors. You might be having a small business, but you might outdo even the giant competitors using social media platforms. That’s how most brands are staying afloat nowadays. You only need to do everything right. You should not open an account and wait for engagements. Be active by creating better content, engage your clients, provide offers, and redirect the traffic to your website to achieve the above benefits.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Why Social Media Is the Ultimate Path to Business Growth appeared first on OpenBusinessCouncil Directory.

Mactavish, the specialist outsourced insurance buyer and claims resolution expert, says many commercial policyholders have faced drastic premium increases this year as insurers look to improve margins in a hardening market, sometimes of up to 800%. This is coming in addition to a greater focus on newer risks such as the increase in cyber crime that has been spurred by the pandemic and the rise of remote working.

As insurers also look to protect their reserves and minimise claims payments, Mactavish says it has also seen considerable erosion in the quality and extent of the insurance cover offered to policyholders. This is often buried in T&Cs without being flagged by either insurers or brokers, meaning that policyholders may not be aware of their increased exposure.

Market surveys are showing 34% increases in premiums across the board, but this masks a much more complex picture. Lines such as Crime, Professional Indemnity, Pension Trustees’ Liability and Directors’ and Officers’ insurance have risen far in excess of this. In addition, some industries have suffered much more than others. Firms in the construction, energy, food and beverage, travel, manufacturing and waste sectors will be experiencing particularly challenging renewals.

Mactavish warns that it expects rates to continue to rise in 2021 and says that some companies will be unable to pay for their cover, meaning they will be forced to reduce operations, lay-off employees or even go into administration.

Mactavish is one of the largest independent ‘buyers’ of commercial insurance in the UK, and this year it has helped clients cut the cost of their insurance premiums by 50% in some cases by using a unique approach that runs brokers in head-to-head competition along with their preferred insurance partners. In addition, while cost is an important area of focus, Mactavish has also improved the quality of its clients’ cover by negotiating critical changes to policy wordings.

Bruce Hepburn, CEO, Mactavish said: “For years, the insurance industry has sold its cover on the basis of price as opposed to quality and this has pushed premiums down, when in many cases they should have been higher. The insurance market is hardening now, and premiums are rising dramatically as insurers seek to make up lost ground quickly. The timing couldn’t be worse for firms that are still being battered by the economic fall-out from the pandemic. For some businesses, these unexpected cost increases could be the final nail in the coffin.”

“Aside from playing a role in pushing price increases, COVID-19 has also exacerbated many risk areas. As just one example, there has been a marked increase in cyber crime as employees moved to home-based working. This creates a double whammy effect where policyholders need to buy more insurance at precisely the moment that prices are spiking.”    

Hepburn added: “While brokers naturally prefer exclusive relationships, our work shows that you get a much better outcome when there is real competitive pressure between competing suppliers. Since many brokers receive premium-linked commissions from insurers, policyholders should be wary of taking cost increases at face value.”

Mactavish cited a recent engagement in which a financial services firm had been badly let down by its broker. Even on the day its insurance was set to renew, the incumbent was unable to confirm that it had secured 100% of the capacity the firm required. Worse, a number of exclusions had crept into the policy wordings that had removed vast swathes of essential cover. Working at speed, Mactavish was able to put in place all of the required capacity, get rid of the onerous exclusions and achieve a double-digit cost saving.

Mactavish specialises in helping employers enhance their chances of securing reliable insurance policies at competitive prices, and resolving claims disputes.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Research: Businesses Are Facing Huge Increases In Their Insurance Premiums And It Expects Further Rises In 2021 appeared first on OpenBusinessCouncil Directory.