Sadly, it’s a known fact that almost all new cars drop in value the moment you collect the keys and get behind the wheel for the first time. At this point, they’re no longer ‘new’ – and if you plan to sell up soon after, you’ll need to be prepared to take a significant loss on your investment. 

This point still applies even while used car prices continue to soar. At the same time, it’s worth knowing that not all new cars depreciate at the same rate. The slowest depreciators are typically those with high demand and good reputations for reliability and other factors. 

That being said, some high performers still depreciate fast because of high starting prices – making alternative purchase options like personal leasing more viable. But if you do want to buy outright, you might want to avoid the following five models to hold onto more of your cash. 

Mercedes-Benz S-Class

This German luxury saloon offers a smooth ride and plenty of tech, making it a popular choice for wealthy executives and high-earning businesses. But those of us with more restricted budgets should steer clear of a car which retains only 34.2% of its value across a three-year period, according to Auto Express. 

Audi A8

Sticking in the same category, the Audi A8 is a rival to the S-Class both in terms of performance and depreciation. The average A8 retains just 34.5% of its starting price of £73,338 – though this is close to half what a new S-Class will set you back, so the loss may not feel quite as grating. 

Subaru Impreza

Rally fans look away now. The latest Subaru Impreza lacks the appeal of its famous predecessors, and typically depreciates by close to £15,000 in its first three years or 36,000 miles. Cost-conscious readers may be better off choosing another model in the competitive SUV market.

Aston Martin Rapide

Ironically for a car named ‘Rapide’, this four-door Aston Martin depreciates frighteningly quickly. You’re likely to lose over 60% of its value through the first three years of ownership – so it’s worth looking at alternatives like the Porsche Panamera or Aston Martin DBX instead. 

BMW 2 Series

Many cars in the BMW range hold their value well due to the desirable reputation of the badge. But the 2 Series Active Tourer has failed to find much of a market, and subsequently sees £18,262 slashed from its value not long after purchase. For many would-be buyers, it seems this multi-purpose vehicle doesn’t quite fulfil any one purpose well enough. 

None of these cars are inherently bad, of course, with many respected names making it onto the list. But being aware of which models lose money faster will put you in a better position if you plan to upgrade in the near future.

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 Cars With The Highest Depreciation Rates appeared first on OpenBusinessCouncil Directory.

At any time, you can go online and find plenty of guides telling you how you can use marketing to grow the business that you’ve put so much time and effort into. However, none of the tips included in these guides can help if your brands, service, or products don’t look unique or don’t meet consumers’ needs. Regardless of the industry you operate in, it’s crucial to learn how to stand out from the crowd, and it’s vital that people notice you for the right reasons. How to make your business more marketable ?

How to Make Your Business More Marketable

You might need to find someone – a fresh pair of eyes – who will take a look at your approach from an unbiased angle or bring in the tools and knowledge necessary to strengthen your online presence. On top of that, you can also try to reconsider the way your business operates and see if there’s something you’d want to communicate to your potential customers.

Although these steps might seem easily manageable, you have to keep in mind that, in many cases, this is only the tip of the iceberg. Therefore it’s possible that more complex steps, such as updating your business plan or revamping your company inside out, might also be necessary. Let’s take a look at a few ways to make your business more marketable and stand out from the competition.

How to Make Your Business More Marketable

Keep Your Business Current

No matter what industry you’re in, your business is a reflection of how it’s being run. For example, if your website is cluttered with images that aren’t professional-looking, chances are potential clients will dismiss you as an amateur. Clients who might be interested in your work and services may not even want to attempt to navigate through your site.

Additionally, if you operate internationally and have regular business meetings and negotiations with foreign partners and suppliers, it might be worth working with remote virtual interpreting services to minimize the risk of miscommunication.

While it’s essential to keep your website up-to-date, you can also consider other ways to keep your business current. Making sure your business cards and promotional materials stay up-to-date is a good idea. This can include updating your logo, offering new products or services, or changing your hours of operation.

Get Your Business Noticed

It’s easy to get wrapped up in the day-to-day operations of running a business and forget to think about how to get your business noticed. Many people assume that if they build their clientele from friends, family, and referrals, they won’t need to worry about winning over the attention of new customers anymore. In reality, your local audience will not be enough to help your business grow or sustain itself, and staying within a small circle is limiting.

Try reaching out to your local radio stations or newspapers to advertise on the air or in print. Another effective way to get your business noticed is by using social media platforms like Facebook and Instagram to promote your business and build an online presence.

Update Your Business Plan

You can’t run a successful business without a proper business plan in place. Whether you’re just starting out or you’ve been in business for a while, adding a new, unique aspect to your plan is a great way to help you expand into a new market or increase sales. After all, a business plan is a tool that should help you describe where you are today, where you want to be in the future, and how you’re going to get there.

Having a clear vision of the future of your business allows you to easily visualize and create a road map to reach your goals. It’s generally recommended that you do a thorough review and update your business plan at least once a year.

Review Your Finances

The state of your finances will play a huge role in determining whether or not your business is ready for growth. So before making any major decisions, take some time to analyze your financial situation and make sure you can afford them. Take a look at all aspects of your finances: cash flow, income and expenses, debt and equity, etc.

See if anything needs to be adjusted to cover any upcoming expenses and stay profitable throughout the year. You might even want to consider hiring a financial advisor – someone who can help you with forecasting and analyzing your financial statements, develop a financial plan, and assist you with investment decisions. Reviewing your finances will help you keep an eye on your progress over time and adjust accordingly when needed.

Find Out What Your Customers Think

Market research is not only crucial for finding new clients but also for understanding what your prospects expect from your products or services. It helps businesses learn about target audiences, competitors, and new products or services your business could offer in the future.  Surveys and interviews are often used as market research tools; however, there are other options as well.

For example, social media monitoring involves following various social media profiles to see how people respond to specific events or topics while surveys aim at gathering information from larger groups of customers based on more structured questions.

Conclusion

There’s no way to predict what exactly lies ahead for your business; however, if you have a clear vision of your goals, you can easily develop a plan on how to get there. If you want to grow your business quickly and effectively, start by revamping your business plan and updating your financial situation.

Once you know where you’re going, look into the necessary steps that will get you there. Your clients are out there; you just need to find them. With the right strategy in place and willingness to change and accept constructive criticism and feedback from people with more experience, you can reach millions of people and make your business more marketable than ever before.

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 Make Your Business More Marketable appeared first on OpenBusinessCouncil Directory.

If you’ve ever watched the hit television series Shark Tank, you have some idea of what goes into getting investors to fund your business. If your presentation and supporting research aren’t solid, chances are you’re going to get rejected. Fortunately, there are some things you can do to improve your chances. 

Pitch It Out Of The Park

The pitch is your opportunity to sell your business to investment firms like TCG. Your goal is to make investors feel as passionate about your brand as you do. Your pitch must encompass a backstory, the demand for your product, how it solves a problem, and most importantly, how you will make money. 

When planning your pitch, you want to include creativity, visuals, and examples to provide investors with a tangible, up-close experience with your product or service. As you rehearse your pitch, don’t forget to ensure you remember key points, make eye contact, show confidence, and add personality. 

Back It Up With Finances

Once you’ve drawn your audience in, the next step is to share how they’re going to benefit from investing with your business. That’s where your finances come into play. You need to have detailed financial data that shows the business valuation, forecasts, and projections. Investors need to know what your company or idea is worth today, what it could be worth down the line, and how much revenue you can generate over time. 

Organize Your Business Plan

Your business plan serves as the statistical, fact-based, tangible evidence to support the idea that your company is viable. It must be accurate and organized to provide a good impression for the investors. A well-drafted business plan will include an executive summary, company goal, and mission statement. It should also have all financial aspects ranging from expenses and revenue to assets and liabilities. To increase your chances of getting a yes, it may be best to allow a professional to review or draft your business plan. 

Know Your Target Consumer

Whether you’re trying to get startup funds or money for a new product launch, you must know your target consumer. You must answer questions like who your target market is, why there’s a demand for your product, and how you plan to reach them. Fortunately, there is no shortage of tools and resources to help you accomplish this task. 

You can create surveys and polls, analyze customer reviews, implement data analytical tools, acquire publicly available data, and more to get as detailed as possible about the people you intend (or currently) sell to. 

Take A Bow

Every business has a life cycle. As an entrepreneur, it is your job to plan for the future. Investors what to hear your exit strategy. Are you going to sell the business? Do you intend to hand it down to someone? Should the market start to decline, how will you close the company with the least risks? Take the time to prepare an answer for these questions to present to the investors. It shows that you’re realistic and prepared for whatever the future holds. 

Trying to convince someone to give you hundreds of thousands of dollars to fund a business, expansion, or product is challenging. Money does not come easy, and investors have to consider the risks. As such, entrepreneurs must ensure that they’ve dotted their eyes and crossed their tees. By working on your pitch, backing it up with financial data, providing an organized business plan, doing extensive market research, and having a solid exit strategy, you put yourself one step closer to a yes.

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 Steps To Increase Your Chances Of Getting A Yes From Investors appeared first on OpenBusinessCouncil Directory.

So, you’ve accomplished the insurmountable challenge of launching your business. You’ve even developed a concrete marketing strategy to attract new customers. Also, you’ve assembled a team of talented and driven professionals who believe in your vision. You can’t wait to climb up the entrepreneurial ladders.

But being a small business owner is a tumultuous journey that’s strewn with numerous highs and lows. From optimizing your product/support to delivering an excellent customer experience – you’re responsible for everything. You need to wear multiple hats and work towards keeping your team motivated.

The Impact of Natural Disasters

Preparing an emergency response plan for natural disasters often takes a backseat amidst other priorities. But in the absence of proper contingency measures, you’d have to stall your business operations when a disaster strikes. Worse still, an extreme weather event could jeopardize the safety of your employees and customers.

You could end up losing valuable data and paperwork as well. Moreover, restoring your workplace and equipment after a severe storm could have significant financial repercussions. Ultimately, all these factors work together to plunge your revenue and take a toll on your business’s growth.

This is particularly crucial considering that climate change is escalating the frequency and severity of extreme weather events, such as tornadoes, cyclones, and floods. Considering that small businesses are often hard-pressed for cash, you can’t afford more financial losses in the event of a natural calamity.

As a business owner, it’s up to you to implement suitable preventive measures at the right time to minimize the impact of such events on your business. This involves taking the right steps to maintain business continuity while ensuring the safety of all key stakeholders.

In this blog, we’ve outlined a few effective strategies and tips to help you ensure business resilience and employee safety during natural calamities. Let’s take a look.

Prioritize Power Backup

Power outages are one of the earliest and most common outcomes of any weather catastrophe. Needless to say, it’s the last thing you want to deal with when a hurricane is about to make landfall near your workplace.

Any interruption to the power supply can prevent your employees from evacuating the office premises on time. Also, it’ll stall business operations and prevent you from accessing crucial business documents, irrespective of where they’re stored.

It is, therefore, a good idea to invest in a sturdy and energy-efficient generator if you haven’t done that already. It can go a long way to ensure continuity of business operations during a calamity.

Shop for diesel generators that are suitable for the size and energy consumption of your business. Also, take proper steps to maintain the generator and ensure that it consumes the optimal amount of fuel.

Start Preparing Early

First things first – you can’t wait for an overcast sky to turn into a full-fledged storm before you start outlining your emergency response plan. Instead, you need to perform a thorough annual risk assessment and identify the potential threats to your business.

Depending on your location and niche, your business could be susceptible to a wide array of calamities, such as hurricanes, floods, wildfires, earthquakes, etc. Explore the area’s history of extreme weather events and other catastrophes for a better idea of what you’re up against.

Next, identify the most crucial business assets that need protection. This could include your equipment, workstations, servers, documents, inventory, and the physical office premises. Additionally, you should prioritize the safety of your employees and staff members. They’re the most valuable assets for your company.

The next step is to develop an actionable emergency response plan and share it with your employees. You could consider working with an experienced disaster management specialist for this purpose. The plan should include an escape strategy, as well as the steps to protect your crucial assets.

Secure Your Finances

Despite the best plans and strategies, your business will end up bearing the brunt of a calamity. This could be in the form of physical damage to your office building, infrastructure, and perishable inventory.

Also, you might have to purchase additional gadgets, equipment, and software applications to let employees work remotely. Even if they’re coming to the office, you’d have to provide them with additional facilities, such as food, safety gear, etc.

If you want to deal with all these expenses without affecting your revenue, you must allocate a substantial annual contingency budget. Also, check with your insurance provider and find out what benefits are covered under your current insurance plan.

If there’s been a recent forecast of inclement weather, you could consider upgrading your insurance plan for better coverage. This is also a good time to find out whether your state or local government has announced any disaster relief programs and funds for small businesses.

What steps are you taking to safeguard your business against natural disasters? Share your suggestions in the comments section below.

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 Prepare Your Small Business for Natural Disasters 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.

When it comes to managing your money as a business, it can seem difficult. After all, your business is unique and as such, shouldn’t your finances be, too? How are you going to take some general advice from somebody on this subject? However, there are some finance ideas that are just no-brainers, and will help you to be on the road to managing your money before you know it. If you’re a business owner, no matter what size your business is and who your clients are, follow these simple tips!

Look at your costs regularly

The worst thing that you can do financially is to ignore all of your outgoings, and presume that you never have to review them. As the market changes, and technology develops, there will be many alternatives out there for whatever it is that you’re buying, and even reviewing them once a month will make sure that you’re not splashing out where you don’t need to, on things that could also be of a higher standard. Though some costs may be small, look into these, too. It doesn’t matter where you can save (as long as you still get the same great products) as it will all add up over the year!

Contact an accountant

If you’re struggling with the financial side of your business, then getting in touch with an accountant like Atkinsons CA could help you to manage it. Not only will this help you to maintain your current finances, but better account management will help your business to grow, and will keep your profits looking healthy. There is also the added benefit of not having to spend time stressing over any figures yourself, which is good if you’d rather focus on something more important. Sometimes, it is simply better left to the professionals, so if you’re not very money-savvy, then contact an accountant.

Spend like your finances are worse than they are

The most important thing to remember about your finances is that they can go up, or down, in a heartbeat. Because of this, you should never think that just because your business is in a good place, you can start splashing the cash. Remain frugal until you’re certain that you can afford to pay out for anything, especially if it’s going to be a large extra cost. There is nothing worse than spending loads of cash because you think you’re as rich as Mark Zuckerberg, and soon finding out that you’re going to rack up a big (and embarrassing) debt because of it.

So, there are many ways to manage your day-to-day finances, from assessing your costs regularly to making sure that you’re saving where you can. You can also contact an accountant so that somebody else can manage the figures, leaving you to focus on what is really important. Lastly, you’ll benefit from spending like your finances are worse off, so that you never end up in the red. Good luck making your business as economically efficient as it can be!

This is an article provided by our partners network. It might not necessarily reflect the views or opinions of our editorial team and management.
Contributed content

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 Manage The Day-to-Day Finances Of Your Business appeared first on OpenBusinessCouncil Directory.