Growing businesses must prepare for new expenses and ask themselves how much they’re willing to spend. They need to consider their goals and current situation when deciding to expand their operations. 

A budgeting plan, for instance, can help them stay on track and achieve their goals. Although every business requires a budget, a tighter grip on cash flow becomes even more crucial when growing a business because expansion can be costly. By calculating exactly what you will need and how much it will cost, you can save money on business growth. 

Still, that’s just one consideration. Here are some other creative ways to cut costs when scaling up your business.

Enhance Cash Flow With Refunds

Refunds can be a great source of revenue for businesses. Your business can generate enough cash flow to operate and grow with the right refund strategy. VAT refunds are one way to get tax credits.

There are even special circumstances where these refunds are possible outside of Europe. It is possible to claim a VAT refund in Taiwan, for instance, if you do business there.

Taiwan’s unique membership encourages international businesses to invest there. Since the country has established economic ties with the EU, it has been designated as a customs territory.

Scale Down Your Workforce

It can be challenging to scale up a business. Among the many factors to consider, scaling down your workforce is an effective way to cut costs. 

There are many ways to reduce labor costs. Small businesses, for instance, may be able to reduce costs by hiring interns or part-time employees who typically work for lower wages. Other options include outsourcing remote work to independent contractors or automating some jobs with technology.

Use Marketing Strategies That Save You Money

Performance marketing is becoming more prevalent in digital marketing. Unlike traditional digital marketing, it focuses on customer engagement and conversions.

As a result of its metrics-based approach, you only pay for results. Compared to other types of marketing, such as paid ads, this is amazingly effective.

Performance marketers can determine what content to promote based on social media posts, website traffic, and conversions. They can launch diverse social media marketing campaigns to engage customers and convert them into paying customers.

Build Your Brand With Digital Promotional Tools

All businesses need brand management. One way to make this process easier is to use digital tools. For instance, you can create professional-looking logos and manage your branding across various channels with affordable digital branding solutions. You can then use your logo on your website, social media profiles, and email signature.

Another cost-effective branding tool is branding software. With this type of software, you can easily manage your brand identity. For example, you can create branded marketing materials, such as business cards, letterheads, and email templates. Because branding software is so easy to use, you will maintain consistency across all of your channels.

Avoid Making Expensive Mistakes

It’s nearly impossible to completely avoid making costly mistakes when running a business. However, hiring a business consultant can provide you with enough valuable insights and guidance to prevent you from making unnecessary errors. 

A consultant’s knowledge of the latest trends and best practices can also help you grow your business. 

To save money and improve your business, consider hiring a business consultant. Profits from your business will cover the cost.

Follow These Suggestions for Positive Cash Flow

Check out VAT refund options, performance marketing strategies, inexpensive brand-building promotional tools, and hire a business consultant if you’re looking to grow your business. By utilizing these creative solutions, you can easily expand your business without jeopardizing your cash flow.

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 Affordable Solutions for Scaling Up Your Business appeared first on OpenBusinessCouncil Directory.

Make your company stand out to the people who need what you do.  Then, give them a smooth, simple experience to make it easy for them to hand you over their money.

Networking

The adage “there’s no need to reinvent the wheel” is completely true when it comes to networking.  There is no substitute for having a network of personal contacts in business.  One of the huge benefits of your contacts is that they also have their own contacts that they can pass your name along to, or who you can reach out to for information or help.  Through the power of word-of-mouth, having one good contact can actually be like having ten contacts.

So much of business relies on trust.  You have to trust that the company or individual to whom you are giving your time, money, or resources, will act responsibly and honestly.  The more interaction you have with clients, the more comfortable they will be that they know who you are and that they can trust you.  Face-to-face networking is optimal.

Outsource for Cross-Promotion

When selecting an outside company to handle part of your business needs, consider how that company can actually be part of your networking and promotion.  For example, working with an accountant in your area, or who serves companies in your field of work, can be a great way to gain customers and expertise.  Your accountant wants its business clients to succeed.  A good accountant will also be a match-maker, introducing clients to each other who might benefit from the relationship.

The same can be true for a variety of types of outsourcing companies.  If your outsourcing company knows what you sell, they might pass your name along to another client of theirs who needs what you do.

Community Engagement

Client building is all about building trust.  There is no better way to grow your company’s image as a trustworthy community player than to get out into the community and do good.  When your customer base believes that you care about the same things they care about, they will not only see you as a company to be trusted, they will actually help promote you.

Community engagement is a triple win.  Your company establishes a positive brand image.  Your target demographic will actually help promote you to their networks, for free.  You and your employees get to make the world a little better, which feels good and makes your company feel like a nicer place to work.

Social Media

Although most companies know they should have some social media presence to be current, many are not sure how to effectively use social media.  Badly done social media can really hurt, not help your business. If you are going to do it, do it right. Choose the social media platforms that make sense for what you do.  Not every company should be on Twitter.  Decide in advance what your image and messaging will be.  Stay on brand.  Even when it’s tempting to share a joke or another company’s post, be ruthless about maintaining the integrity of what you put out there for the world to see.  That includes, managing other people’s comments on what you post.  Allowing trolls and bullies to run amok on your social media page can be just as harmful as sharing a joke some people take the wrong way.

Simple, Intuitive Web Design

After you have done all the hard work of finding and persuading your customer to buy what you sell, don’t throw all that effort and time away by allowing it to be too confusing or complicated to complete the transaction.  Keep your website design simple and intuitive to use.  Give your customers a feeling that you are there to support them, even if they are shopping online, with click-to call software. Even if they don’t use it, knowing that they can simply click a button for immediate assistance is a valuable piece of trust and confidence for the customer.  The bonus for you is that, in the event that they have questions about how to make the purchase, you can answer their questions, and thus not lose a lucrative sale.

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 Visible and Accessible appeared first on OpenBusinessCouncil Directory.

What are the 6 techniques you can use to increase employee productivity?

Helping your employees remain productive has many benefits for both the individual and the company as a whole. When employees are productive, they feel good about themselves and their work, which can lead to a more positive attitude in the workplace. This, in turn, can result in improved morale, increased creativity, and reduced stress levels. Additionally, productivity is often contagious; when one employee is productive, it often inspires others to follow suit. As experts at https://incito.com explain, with the right tools, your business is set for success. By helping your employees be more productive, you can increase profits and achieve your business goals. In short, there are many reasons why it is important to help your employees stay productive. Implementing the techniques we discussed today can be a major step in the

It is important that your employees have all available resources

The first technique is to provide employees with the proper tools. This means giving them the resources they need to do their job well. It can be something as simple as a new computer or software that will make their job easier. If you give your employees the tools they need, they will be able to work more efficiently and be more productive. Furthermore, when lacking resources, employees might have to turn to other departments or people, which can slow down even more staff.

Creating a more friendly work environment

The second technique is to create a positive work environment. This means making sure that your workspace is clean, organized, and positive. Employees should feel comfortable in their work environment so that they can focus on their work and be productive. Of course, this should not mean that you should allow your employees to work as they please. However, it will help your employees feel more safe and open at work. This will help you have better employees, and help them feel more “at home”, which can boost their productivity. 

Emphasize crucial goals

The third technique is to set clear goals. Employees should know what is expected of them and what they need to accomplish. When goals are clear, employees can work more efficiently and be more productive. Furthermore, it is very important that you segregate crucial goals, from those that are less of that. This can help employees create priorities. Moreover, it can allow employees to keep better track of their progress.

Communication is key

The fourth technique is to provide feedback. Feedback helps employees understand what they are doing well and what they need to improve. When employees receive feedback, they can adjust their behavior and be more productive. Consequently, the same should occur the other way around. You should be open to constructive feedback and work on improving that field. To be sure your employees do their best, you will have to create a trust link between both parties. 

Allow each employee to have its own space

The fifth technique is to give employees autonomy. This means allowing them to work independently and make decisions on their own. When employees have autonomy, they often feel empowered and motivated to be more productive. Constantly watching their every decision can become daunting and lower the morale of the staff. Soon, your employees will be motivated by fear, not productivity.

Everyone wants to be motivated

The sixth technique is to use incentives. Incentives can help increase employee productivity by providing motivation for employees to do their best work. Incentives can be monetary or non-monetary, such as awards, recognition, or additional vacation time. This is probably one of the best ways to ensure your employees remain happy and do not burn out from working. As we were saying at the beginning of this article, a happy employee is a good employee. 

As you can see, there are many techniques to increase productivity at your office when it comes down to an individual’s work environment. It is important to note that all of these strategies may not be applicable to every business; however, if this article has sparked some ideas about how you can improve the working conditions at your office then do not hesitate in implementing what works best for you! 

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 6 Good Techniques To Increase Employee Productivity appeared first on OpenBusinessCouncil Directory.

What are the CPA Firm’s Services?

First and foremost, what are CPA Firm’s Services?  CPA firms typically offer tax preparation, bookkeeping, and auditing services.  CPAs typically offers the core service along with consulting for small business owners like you!

How to hire a CPA?

Hiring a CPA is much similar to hiring a lawyer or a doctor. There are specific roles they have, and not all CPA’s can do the same thing. Many industries have specialists and CPAs are no exemption from that rule. So based on what you are looking for, you should do your research and find the CPA that has the knowledge and experience in exactly what need.

The difference between hiring an excellent CPA and a mediocre one depends on asking the correct questions. Many CPAs will fix your tax returns and do little more unless you explicitly ask for it. At times, the extra fees for additional services—like business advice or tax planning— can appear surprisingly expensive and high.

So, before you sign off on your CPA firm in Las Vegas, make sure to ask them some questions to find out if they are the right fit for you.

1. Do you carry a Preparer Tax Identification Number (PTIN)?

This should be your first question. You want to make sure that your CPA is certified to do the things you need. Anyone who is in charge of preparing your tax returns must be in possession of a PTIN to submit to the IRS. Without a PTIN, tax accountants actually cannot submit the prepared tax return, and pretending to be able to do so can harm your company.

2. If needed, are you available year round, and what are your working hours?

Knowing when you can get in touch with your CPA is very important.  As your company’s circumstances may change, you might need to reach out to your CPA on a monthly, weekly,  and also on even daily basis. Look for a small CPA firm in Las Vegas that will be available to answer all your questions, and be available to flexibly work with you. Also, make sure that you don’t get billed at a high rate per hour every time you call them on the phone or send them an email. Make this clear with them from the very start. Remember, you are not just hiring a Las Vegas CPA firm to prepare your taxes, you are also hiring them to get the benefit of their expertise and knowledge.

3. What will you do if I get audited by the IRS?

Being audited by the IRS is not uncommon, and it can also be very time-consuming. This is an excellent question to ask because there are many CPAs out there who only provide tax returns, but don’t give any ongoing support. In this case, you’ll want someone who is ready to represent you and stand by you in front of the Tax Court or IRS.

A good trick that can help you stay in your budget zone is to look for a CPA firm in Las Vegas that offers protection for tax auditing that is included in their service agreement. This way, if you do get audited, you’ll be guarded without having to spend an hourly rate.

Also, a key element is to find out how much experience your CPA has in handling  IRS issues. Feel free to ask them about previously dealt cases that they successfully settled.

4. How much do you charge, and what are your rates?

Like any other service you hire, this is an imperative question to ask before hiring a CPA firm.

This is because various CPAs are not clear on providing a precise price for their services. As an example, you might run into many CPAs who will say that the cost of your return will be a certain rate and will be done on a certain timeline. But, they will often get overwhelmed in the meantime with a present tax season and get behind schedule. This in turn can cause many activities to become prolonged on the date previously agreed upon, and you should discuss this situation beforehand. In most cases, Your CPA will add on all of those billable hours you forgot about and any additional work they were not expecting to finish the return.

    5.  How Has The CPA Worked With And Benefited Business Owners Like Me?

Past experience will determine if this CPA will fit your business’s needs or not. Always make sure that that your CPA can cover the industry you are in and can provide you with feasible results. From an accounting and tax standpoint, not all business types are treated the same, and having a CPA firm in LAs Vegas that specializes in your area can save you time.

To sum up

Be careful. Selecting the wrong CPA firm can damage your business and bring pain to you financially and emotionally. In the end, your CPA should be experienced and knowledgeable about your line of work, in order to give you the protection you need. As a business owner, hiring a good Las Vegas CPA firm is important for making sure that your finances are in order and that all of your taxes are paid on time, so make sure you invest sufficient time in searching for the right fit.

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 Questions to Help You Choose a CPA Firm in Las Vegas appeared first on OpenBusinessCouncil Directory.

Getting profit is the primary goal of virtually every business out there. But it doesn’t mean that every business is actually profitable enough for its needs, as at the same time, they need to set reasonable pricing to keep their customers happy, among other things.

It is a common misconception that your income relies mainly on the number of products you sell. It is partially true, but you need to keep in mind that you have many more things to take care of when running your business, some of which may consume too much money.

Many entrepreneurs look for a way to make their business more profitable. If you are one of them, this article is for you! Here you will find several ways to get more profit from your business, including setting realistic goals, tracking your progress, getting business insurance, preventing waste of resources, and increasing marketing efforts. Read on to learn more!

Set Realistic Goals

As an entrepreneur, you are probably always looking for ways to expand your business, and one of the most important things you need to attain this is to set realistic goals. You need to understand what you are capable of achieving and how much time or money it will take to bring your business goals to life.

You should also put your goals into perspective. Setting extremely high, unrealistic goals will only lower your motivation to keep improving your business, resulting in disappointment with the progress. It would be best to set particular objectives for the near future and divide more significant goals into smaller steps to make it easier to avoid frustration and stay focused.

Get Business Insurance

To any business owner, insurance is a must-have, as it will protect you from financial risks that could otherwise cripple your business. For example, if a third party damages your property or a fire in one of your warehouses, insurance will help you get compensated for the loss.

As a business owner yourself, you would never want to put yourself in a position to lose everything because of something out of your control. One of the options you can take advantage of is income protection insurance that guarantees you monthly payouts if you’re unable to work for any medical reason, so consider checking the best UK income protection companies and preparing yourself for the unexpected.

Track Your Progress

Another thing you must not forget about is tracking your progress – especially after you’ve determined your business goals. Before setting out to make your business more profitable, you need to know where you stand now, so you can compare with where you strive to be. Keep in mind that the goal of tracking your progress is to help you better plan your improvements, especially if your current situation is less than ideal.

Create a Business Plan

One of the most effective ways to ensure the success of your business is by having a business plan. But what exactly is a business plan?

A business plan is a document that contains all the critical aspects of your business. It includes a description of the company itself, the current market situation, market research, a SWOT analysis, a financial forecast, competitor research, and more.

You must not forget that a business plan is a tool for you to use when making decisions – you need to consistently update it so you can always stay up to date with industry trends and changes as well as customer needs.

Prevent Waste of Resources

If you want to make your business more profitable, you need to prevent wasting resources. You need to stop anything that is not helping your business move forward and take advantage of the resources and opportunities available instead.

The best way to reduce resource wasting is to implement a diversification strategy in your business, meaning that you will invest in several different projects simultaneously. If approached carefully, this strategy will ensure that always have something to fall back on if one of the projects doesn’t generate revenue or fails.

Increase Marketing Efforts

In addition to all the tips mentioned above, you can also increase marketing efforts to make your business more profitable. You need to be able to reach out and attract more customers to grow and expand your business and make it worthwhile for you in the long run.

To increase marketing efforts, you need to find the best mix of marketing channels that suit your business needs. You can do this by trying out different channels and setting up a system of tracking your results. Today, one of the best ways to reach out and attract more customers is using social media platforms such as Facebook, Instagram, and Twitter, among others.

Once you have found the right mix of marketing channels, you can focus on increasing the number of leads generated by each one of them.

Price Your Goods or Services Reasonably

Pricing your goods or services is one of the most important things to consider when running your business. The key here is to find the right balance between profit and good customer satisfaction levels. If you set prices too high, you won’t be able to sell many products; if you set prices too low, you won’t make much profit either.

Fortunately, there is a way for you to balance both profit and customer satisfaction at the same time. By developing an effective pricing strategy based on your business niche, competitor’s analysis, customer demand, and other factors, you can increase your profit without hurting your customer satisfaction levels.

In Conclusion

Running a business is never easy, but it can be very rewarding as well – just remember that no matter what you do, you must always stay focused and keep your goal in mind. Following the tips mentioned above will allow you to make your business much more profitable and thriving in the long run.

Moreover, you should keep in mind that making your business more profitable will not happen overnight – this will take time and effort on your part to achieve the results you want. But if you are willing to put in the necessary work, you will be able to bring your business goals to life in the most efficient way possible.

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 Ways To Get More Profit Out of Your Business Today appeared first on OpenBusinessCouncil Directory.

However, if you are running your own small and medium-sized enterprises (SMEs), then you are not powerless to improve. Should you adopt a proactive mindset, your SME can employ various measures to better its situation and that of the planet. It is arguably your moral obligation to keep innovating here as an entrepreneur.

Still, the changes can be challenging, and certain business leaders may shy away from redefining many of their processes. In the UK, 30% of smaller firms have no intention of becoming more sustainable, despite their government’s commitments to slashing emissions. SMEs are often in vulnerable positions at the best of times, and overhauling their already waning operations may not seem viable during a pandemic.

That said, time is of the essence. The decisions you make here as a leader of an SME are crucial. If you are short on incentives to go green as a small business leader, then keep reading.

Having a Collective Mindset

Some SMEs may perceive themselves as having a degree of anonymity, as they are not typically widely known by the public. Therefore, they may be under the false assumption that their actions are largely inconsequential on a grander scale.

However, SMEs are part of a collective. They are dependent on one another in propping up their respective industries, generating interest in consumer trends, and of course, protecting the environment. If smaller businesses start to abandon their efforts to better the planet’s wellbeing, others may assume that their own efforts are too ‘smaller scale’ to make a lasting difference.

Eco-friendly measures are a teambuilding exercise. All firms need to rally together to make a substantial impact on creating a sustainable environment. If you are unwilling to implement greener measures so far, try to consider how your actions may be affecting others. Are you a small business that can quietly shirk its responsibilities, or are you a part of something bigger?

Using the Societal Reset

The pandemic was devastating in many respects. Many businesses collapsed into nothing, while others were wounded, reevaluating their positions in their respective marketplaces.

However, there were some silver linings. For example, the reduced economic activity helped the environment considerably. Still, while things have slowly started to revert to how they were pre-pandemic, now could be an opportune moment for your SME to utilize this pivotal moment in history.

For many entrepreneurs, the emergence of the coronavirus has also been a time for sobering reflections. They have questioned how their business can persevere and how they must adapt to survive. It is a process that is still ongoing. Therefore, it may be a good idea to ask yourself questions like:

• If my SME is currently in a recovery process, could I make it a green recovery?
• Should I be trying to help my SME to survive or thrive?
• Could I hold myself more accountable for my decisions in ways that others have recently?
• How responsible should I feel for making the world a better place in times of struggle?

Though times are uncertain, it might be that this ‘societal reset’ is an excellent opportunity to restructure your business in numerous ways. From your profound sense of values to how you perceive your place on the industry stage, eco-friendly measures can bring clarity to your SME’s sense of purpose and importance.

Reading Your Customers

There is a sense worldwide of new beginnings taking place. Even if your attitudes to eco-friendly measures may not have changed too much, your customers may have other ideas in mind.

Last year, a study revealed that two-thirds of North Americans preferred eco-friendly brands, and it is unlikely things have gone the other way since. It is a cliché rule, but the saying that the ‘customer is always right’ does ring true. Ignoring the wants of your target audience can only spell bad things for business, especially if the pandemic has bruised your smaller company enough in recent times. Ultimately, your customer’s demands double as your roadmap to success.

Remember, you may have struggled as an SME leader during the pandemic, but you have not been alone in any of your bad luck. Most people have faced some manner of hardship recently. If you can supply your customers with any form of hope after such a bleak period, your SME can be a beacon of light in darker times. After that, your business could feasibly boom, as customers may be willing to pay substantially more for green products and services.

As 30% of UK small businesses proved, not every SME is willing to introduce sustainable measures. Perhaps your methods would grant you a competitive advantage? After your efforts, you may become your customer’s preferred SME, as they feel good about your firm and themselves when trading with you.

Inspiring Further Opportunities

Sustainability is often seen as an endgame solution. However, for savvy entrepreneurs, it can merely be a starting point to a brand-new world of opportunity.

For instance, this guide to accepting digital payments can teach you how eco-friendly these measures can be by creating a paper-free economy. Not only this, but the digital payment can also increase company efficiency, boost revenue, cut costs, and make your firm more accessible to a wider variety of customers. Therefore, sustainability can be the beginning of a new trajectory for your small business.

Of course, trading in an uncertain or vulnerable economic period is highly challenging for SMEs. Therefore, you should utilize every advantage in your arsenal. So long as you play your part, sustainability can be rewarding. You would be helping the environment, but at the same time, enabling the prospects of your SME to truly flourish.

Benefitting Your Employees

Of course, a win for your business is also a win for your employees. As the SME begins to reap the rewards of being sustainable, staff could also be treated to perks and pay rises as you see fit.

All good employers want to look after their employees. However, a smaller firm means less staff, which might mean that you are closer to your workers. Consequently, you may be more acutely aware of their needs. Running a more sustainable firm may address many of their concerns and nurture a more inclusive, caring, and considerate work culture.

Sustainable measures that may benefit your staff include:

• Work from home schemes – if employees are not travelling to and from work each day, they will slash emissions. At the same time, this arrangement may be ideal for them if they need time away from the workplace for personal reasons.

• Introducing more plants – Plants oxygenate rooms and reduce air pollution. They can also be visually appealing and mood-boosting inclusions to a workspace, so incorporating some greenery could be helpful.

• Utilizing sustainable cleaning products – Cleaning products often contain hazardous chemicals, creating pollution and endangering staff if they encounter them. However, their eco-friendly variants are biodegradable and far less dangerous.

Many employees may also wish to work for an SME that simply does the right thing. Succeed in this, and you may create a work culture that your staff are fully invested in and loyal to. Being a sustainable SME means going the extra mile. If you cannot do that yourself, then how can you expect your employees to have a similar attitude to their work?

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 5 Incentives For SMEs To Go Green appeared first on OpenBusinessCouncil Directory.

We all know how much of a stress reliever art can be. It helps artists free their emotions, distract from stressful thoughts, and it can also be restorative in so many ways one can imagine. Because of that, many use it as a channel to express themselves and to pass time too.

But art isn’t merely a hobby or a stress reliever. It can also help you earn a living or even a significant amount of money.

However, not many artists know how to start a business and keep it growing. Lucky for you, though, you’ve come to the right place.

Starting a business isn’t easy, especially in the field of art. If you don’t know where to start, here are some steps on how you can set up your art business and make it successful.

Know Your Target Market

Just like in any business, knowing your target market even when you’re starting an art business is a must. This will help you better your works and learn the right approach for your target market.

Once you know your target market well, it would be easier for you to strategize in marketing your works. You’ll know how you can approach them or sell your work without bombarding them with ads or information that might easily turn them off.

Aside from that, you’ll also get a better view of their likes, dislikes, needs, and wants. This will help you create better pieces that they will surely patronize.

Knowing your target market also helps you have an edge in the business world. Artists from Masterworks Art say this will help you get to know who your competitors are. With this, you’ll have an idea of their prices, their marketing approach, as well as their styles, and how their clients purchase from them.

Have a Business Plan and Review it

One of the common things that successful companies have is a business plan. And even if you’re just starting up in the business world, you’ll be needing it too as it plays a huge role in growing and developing your business regardless of what industry you’re in.

For starters, a business plan is basically a written document that details your business’s objectives. It also contains the steps that you plan to do to achieve them. It’s like a blueprint or a roadmap for your business.

For some entrepreneurs, this isn’t that important. But, believe it or not, it can be a great help as it will serve as your guide to reach your goals – both short-term and long-term. And when things start to go south, this will help you get back on track by reminding you of your plans and the steps that you need to do to reach your objectives. So, make sure to review it too.

Create Fans

For some businesses, it’s easy to start right away even without a solid following. However, it’s quite different when you’re starting an art business. For you to ensure that your art business will grow, you’ll need to have some fans first. This could be anyone who likes your work and/or willing to buy them eventually. They can also help you grow as an artist.

However, it’s not easy to gain fans. What you can do, though, is to provide opportunities for them. This way, your works, and even your page will become more visible. You can do that by scoring an exhibition space at art fairs, be featured in other exhibits, run marketing seminars, or hold open studio days.

You can also make yourself become more visible online. You can do that through posting images of your works on your social media accounts, updating your website with new content, and/or making use of marketing strategies, such as SEO.

But, remember, not all of the fans you can gain will always be willing to buy your artworks. Some of them are merely admirers of your work, but their support will still make a huge difference in your business.

Make it Easy to Connect with You

Once you gain fans, make sure to make it easy for them to connect with you too. Like in other businesses, connecting with your consumers will help them feel more confident about your work.

In addition to that, if they like your pieces, it would be easier for them to purchase from you. Thus, improving their customer experience too.

To do that, you can keep your comment section open in your social media accounts. However, note that these platforms are just useful to showcase your works. But, they don’t offer the same professional experience as much as websites.

And if you have a website, you can add a page that will make it easier for users to contact you if they have concerns or if they want to buy from you. Chatbots will be helpful too, especially if you’re away and can’t attend to your clients’ needs right away.

Find a Location

Just like in other industries, your art business’s location matters too. This sets up the image for your business and helps you attract a larger customer base.

That said, it’s not ideal to rent or buy a space for your art business merely because it suits your budget. While cost is one of the important things to consider when choosing a location for your business, you must consider the demographics in the area you’re eyeing too, so you can attract the right customers.

Prioritize Quality Over Quantity

Remember, art is what you’re selling. Thus, you always  prioritize the quality over quantity.

You should put your best foot forward as you’re making every artwork because without quality pieces, you can’t expect people to like and buy your works. No matter what happens, make sure to be very clear about what you’re making, as well as who you’re making them for, even when you’re creating content online when building a fanbase.

Starting an art business isn’t always easy as it’s not like other industries where you can always expect numerous frequent customers. But, if you know where and how you can start, growing it would be like a piece of cake.

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 6 Steps to Starting a Successful Art Business appeared first on OpenBusinessCouncil Directory.

Very often, when you have a dream, there’s one thing that interferes with it – money. Whether you wish to buy a house, start your own company, go traveling, or become a musician, lack of money can keep you stuck right where you are. Fortunately, it doesn’t have to be like that forever. 

Usually, people have financial problems because they spend too much or are economically illiterate. Fortunately, you can change that easily, and we’re going to help you. In this article, you’ll find all the necessary information about saving money. Check out these helpful tips, and take the first step to live your dream life:

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Set a Goal

Having a precise goal is essential if you want to fulfill your dreams. When you know what you wish to achieve, you can define specific steps and set financial objectives. Have a brainstorm, and decide what you aim for and how much money you need for that. 

However, be realistic and honest with yourself. Everybody has limits, and sometimes, you just can’t cross them. Some things may be too expensive for your current lifestyle, even if you’re saving money – hold them for later and try to find a more approachable option. 

For example, if you can’t buy your dream house, look for a cheaper option. Perhaps a few years later, your situation will change, and you’ll be able to sell your current house and buy a better one.

Assess Your Budget

It’s important to assess your budget from time to time. Check your monthly and yearly income, and write down all the significant expenses: mortgage, student loans, car payments, etc. Calculate all your essential payments, like gas or grocery bills, and see what you’re left with. 

Also, check how much money you have in the savings account. If you don’t have one, create it – just make sure to check the best rates beforehand. Some people don’t trust regular saving accounts – if that is your case, consider cryptocurrency (for example, check for Australian crypto exchange here). If you decide on this option, remember to assess all the benefits and drawbacks, and be prepared to deal with the possible pitfalls.  

Track your Expenses and Rethink Them

After you’ve checked all the essential expenses, figure out where the rest of your money is going. Write down all your purchases for a month – you can do it in a journal or use a wallet-like app. Trekking your expenses can be a true eye-opener. You may be shocked seeing how much money you spend on coffee each month. 

Then it’s time to rethink your budget. Look for areas that can be downsized and get creative. Bring your own lunch to work instead of buying it every day, drink coffee only at home, or buy the clothes on sale. 

Of course, if something is vital for you, don’t get rid of it. For example, if a daily portion of chai latte in the café next door makes you happy, don’t cut back on it. Instead, look for the other areas where you can cut expenses, and make small changes. 

Prioritize Your Savings

When you’re saving money, it can be tempting to buy something that grasps your attention. It works the same way as a diet – if you don’t eat sweets or carbs, at some point, you’ll want to have a bite of cake. However, you can deal with that. Here are a few tips:

• Always try to have the full picture and evaluate what’s important for you. For example, if you want to go partying, think if that’s essential at the moment. Perhaps, you can save the money for something more meaningful.
• Plan ahead and buy with purpose. Don’t go to the store without a shopping list to eliminate impulsive purchases.
• Ask another person to control your expenses. It can be a partner, a friend, or a financial advisor. If you want to buy something non-essential, ask them first. 
• Try to stay motivated by making small steps towards your goal. Create a dream board, buy flight tickets or get guitar lessons. Focus on the aim, and you won’t think about anything else.

Spend Money Wisely and Fulfil Your Dream

If you don’t have money to fulfill your dream, don’t worry. Get in control of your finances and achieve your goals. That may sound challenging, but trust us – once you learn several helpful tips, it gets pretty straightforward.

To save money, you need to follow several simple steps. Set a goal, assess your budget, record your expenses, cut unnecessary spending and prioritize your savings – that’s all you need. What’s left then is to control impulsive purchases, and wait patiently until you meet the objective. 

In the end, you’ll get that money off the savings account and finally fulfill your life-long dream. We can only wish you luck.

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 4 Best Money-Saving Tips to Follow Your Dreams appeared first on OpenBusinessCouncil Directory.

One of the tougher financial decisions for a new company, especially one that can be considered a small-to-medium-sized business, is whether and how much to outsource certain functions, tasks, and processes to a third party. The initial impulse with a new company is to try and save as much money as possible by establishing efficient in-house teams.

While there are reasons why in-house teams may be the right choice, it’s not guaranteed to be more efficient or financially prudent than hiring a third party vendor. In fact, by the time many companies end up conceding and crawling to a third party, they have many tales of woe regarding their in-house failures. 

On the other hand, many bigger corporations establish robust in-house teams for things like logistics, ecommerce fulfillment, and security and only use 3rd parties for specific kinds of partnerships and business collaborations. Just as there are horror stories from in-house fails, there are plenty of horror stories of small business owners wasting precious money and time on inept third parties. 

So, what’s the right answer? Well, unfortunately, there is no 100% right answer on when to go in-house and when to outsource to a third party. There are a variety of specific factors that must be assessed on a case by case situation. 

In-house

Ecommerce is critically important these days. It has surpassed traditional commerce in global sales and the survival of most companies depends on it. Ecommerce fulfillment involves six basic components: inventory management; warehousing and storage; receiving; pick and pack; shipping; and returns. 

The decision of whether a company’s ecommerce fulfillment should be handled in-house or by a third party should be evidence-based and data-based. Generally speaking though, it has to do with your inventory volume. If your business pipeline is relatively small, involving shipping fewer than 100 items in a month, your ecommerce fulfillment is probably best handled in-house. 

Many ecommerces businesses that consist of one or two-person selling operations on Etsy and other C2C platforms usually do not have the inventory volume or capital for more elaborate warehouse solutions. 

The advantages of in-house ecommerce fulfillment are: simpler implementation, lower startup costs, custom packaging, and control.

Third-Party Logistics

It may sound kind of counterintuitive but the bigger the company is the more third-party logistics come into play. You might think that the bigger you get, the more space and resources you have to do your own operations. But it’s more complex than that. 

Third party logistics (3PL) in ecommerce fulfillment appeals to companies who need supply chain management. Supply chains are critically important to business growth. They include: sourcing transportation; inventory storage and management; freight forwarding; shipping/receiving and distribution; customs brokerage; cross-docking; and picking and packing. 

Outsourcing to a 3PL gives your business more time to scale up your marketing and business development. It also allows you to tap into your 3PL’s data insights, shipping networks, and buying power. 

Another option

Both in-house and 3PL have their own drawbacks, of course. In-house ecommerce is difficult to scale, time-consuming, and limited in labor and storage space. On the other hand, 3PL forces you to give up control over aspects of your customer service and makes your supply chain totally reliant on another company.

If both of these options make you nervous, there is a third path you can take to handle your ecommerce fulfillment. It’s called dropshipping and it has become increasingly popular aas behemoth corporations like Amazon continue to dominate the market. 

Dropshipping means that the orders from your ecommerce store are handled by your supplier. This supplier/manufacturer will pick, pack, and ship the order directly to the customer. The advantages of dropshipping are lower startup costs and inventory costs. It also means you only pay for what you sell. 

However, dropshipping has its disadvantages, too. You will have no control over shipping or handling and are reliant on supplier stock. You can also count on lower profit margins, shorter lead times, and no bulk pricing. 

In the end, the business decision of how to handle your ecommerce fulfillment is a highly specific one that must be considered based purely on your company’s financials. In-house, third-party, or dropshipping can all work well. At the same time, they may not be right for you at this specific time in your growth. It’s your job to find the right match for the present.

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 In-House or 3rd Party: How To Handle Ecommerce Fulfillment appeared first on OpenBusinessCouncil Directory.

Losing your job can be pretty stressful. Everything can feel a little bleak, but you could take this time to start a business. You have a lot of free time so that you can come up with something. The following are some steps you should take if you’re thinking of taking a chance on that dream business.

Take Care Of Basic Expenses

Hopefully, you qualify for unemployment benefits. This should cover your expenses temporarily, but be sure to budget so that you can put some of that money away. Let that money cover your costs while you come up with a business plan, but remember that you might lose those benefits once you start your business. The sad truth is that many states won’t support you after you start a full-time business. Be sure to consider a side hustle as soon as you start your business. You might need one even if you were able to save some of your employment checks.

Address Healthcare

America is one of the few developed countries where health insurance is often tied to your workplace, which puts you in a pickle if you lose your job. You don’t need this hanging over your head because it can make it harder to think. You need all your mental power right now as you try to start a new business. What you can do is look for a fixed indemnity plan for medical coverage. With this plan, you can feel better knowing you can still go to any doctor should the need arise. Hopefully, nothing happens, and your business starts to pick up given enough time.

Put on More Hats

You’re not going to have a lot of money to spend on your business. This means you have to get creative. Ideally, you can start a business that won’t require too much to start, like an online consulting business where you mainly use your skills. With something like this, all you need to invest in is your site. The trick is to put on as many hats as you can. While on unemployment, try to learn more things that’ll help you get your business off the ground. Learn online marketing, how to build a site on your own, and any other skill you can think of that you can do without any help to reduce your expenses.

Independent Contractors Route

You can try to put as many hats on as possible, but there are some things you won’t be able to do yourself. You don’t have to hire a staff to get some of these things done, nor do you need a subscription service. Sometimes, the best thing to do is work with an independent contractor or freelancer. They provide a service for a one-time fee, and that’s all you have to worry about. In essence, you’re just paying for what you need as you go without accumulating any monthly bills because you don’t need that extra pressure right now since you are jobless.

Low-Cost Version

Most business ideas you can think of have a low-cost alternative, and you should consider that. The low-cost option doesn’t require that you have thousands of dollars to start the business. For example, if you want to open up a restaurant, consider investing in a food truck or maybe a food cart. All of these don’t require as much to start with. You can find some of these used. You can test out your skills, and if you make enough, you might be able to open up your restaurant. Find the low-cost alternative for your business to improve your chances of success.

It’s scary to start something like this after losing your job, but you need stability, and this could give it to you. Be sure to create a thorough plan before you take this step so that you’re ready.

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 5 Steps to Starting a Business After a Job Loss appeared first on OpenBusinessCouncil Directory.