20 Tips to Saving Money

save-nowI believe that saving money is an important life skill to have. It is extremely difficult to have to balance everyday expenditures with investments and savings, so a little bit of know how is required.

You need to learn to save money smartly, and to do so would mean to pay a bit more attention to your daily expenditures.

What I have noticed with a lot of people is that while they rarely spend on big ticket items, they end up spending small amounts of cash everyday without realizing that it amounts to much bigger expenditures in the long run.

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5 Time Management Tips to Help Your Lifestyle

save-timeI have always believed in the phrase “Time is gold”. In other words, every second you waste on doing something unproductive is another second you lost forever.

This means that you become less efficient, produce less, and have less time for other things in your life.

Procrastination has always been an unpleasant habit of many students and workers because it sacrifices productivity and quality because of the need of having to rush their work. [Read more...]

When to Outsource Tasks for Business

When running a company, especially a small, start up venture such as the ones I handle as an entrepreneur, you will have to choose whether to outsource a task and whether or not you should relegate these tasks to in-house recruits instead.

Outsourcing has been part of businesses for the longest time, and helps other companies to save time and money. It also fosters trade between other companies and creates more job opportunities.

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For example, I once required some engraved metal tags for a small project that I was doing. The metal tags are to be personalised and attached to the products that I wanted to sell, as a limited edition offering.

Since none of my employees were specialising in metal working, I decided to outsource the tags to another company. The company specialised in cutting metals using a laser, which made it easier because they have the experience and the equipment to do it for me.

In fact, outsourcing can be used for practically any aspect of your business. Whether it is through accounting, web design, manufacturing, and much more, outsourcing can streamline any process. The trouble is when to decide to outsource a task and whether or not it would be more beneficial to source in in-house instead.

 

Here is a short guideline to help you decide when to outsource a task.

 

When the activity isn’t central to your operations and to generating profits

Often times, an activity simply is not central to your operations and simply is not entirely part of generating your profits. It can be easier to just allow someone else to handle the task for you instead of focusing on it and using up valuable resources.

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When the job wastes time and money because of routine

You should also outsource a task if it is a time waster that costs you money. If doing it in-house costs your employees time and does not allow them to focus on their primary tasks, you may need to outsource. The most common outsourced task due to routine is accounting.

 

 

 On the other hand, Here is a video tutorial about the best outsourcing strategy:




When the task is only a temporary venture

Like my metal tags mentioned above, temporary ventures are best outsourced. This is the case if you require something on the more creative side or if your company needs something only for a short time, such as during an event or convention.

 

When the task is more cost efficient if outsourced

If it is cheaper and more cost-efficient to outsource a task, it is a good idea to do so. For example, a large animation company would prefer to work on primary animation and would relegate the tasks to an outsourcing company for when they need to do in-between animation.

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Since it is cheaper to outsource it to junior animators than the senior ones, it becomes more cost-efficient, increasing your profits.

 

When the task requires highly specialised skills that your employees lack

Certain, highly specialised skills can only be provided by an outsourcer. If your employees in house simply do not have the skills to do a task, it is better to outsource. This kind of work can be temporary, until your in-house employees can learn the skills required.

The Importance of Being Punctual in the Workplace

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If you have ever taken training in business communication skills, they will probably tell you that punctuality is a good virtue to have. While punctuality is expected for even casual engagements, they become especially important at the workplace.

Even if you are running an online shop, timeliness and punctuality are needed. If your client has a query that needs answering, it is considered good business practice to write back to them within 48 hours of their query.

If they are ordering an item, you should make sure that you ship their item in a punctual manner, so that they receive their item within the time you have promised.

Here are some reasons why you should always be punctual at the workplace:

 

It shows that you are respectful

Whether you are attending a business meeting or shipping a product, being punctual shows that you are respectful and that you value the other person’s time. This is especially true if you are at a workplace where you have to work with others.

If you submit your work late or if you do not arrive on time, tasks have to be relegated to others in order to keep on schedule. This means that your tardiness is affecting the schedules of others, not just your own.

 

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It proves that you are reliable

Being punctual proves that you are reliable because you can be counted on to always reply on time or to submit work on time. Being labelled as a reliable person or a reliable company in general builds trust and rapport.

It also helps build up your client base, as this gives you a better reputation as an individual and as a company.

 

Increases company output

Being on time helps increase your company output because you have more time to work and to focus. If you are tardy, the tardiness affects your work schedule and leads to more procrastination.

It also stresses you out more because you have to spend more time catching up on your work than simply working on it at an efficient pace. Work that is finished using procrastination is usually sub par in quality.

 

It builds up personal relationships

Being punctual helps build rapport with your clients, your employees, and your partners in your business. Even small home companies that rely on online sales will see an improvement in their personal relationships with their clients if they provide services in a punctual manner.

Meanwhile here is a video about How To be On Time All The Time:

 

Being punctual is the quality of professionalism, which increases the respect a client has for your company and your product. It also increases the chances of your client referring your company to someone else.

It also increases the chances of your customers giving you a good review and returning for more of the services that you provide.

The only time that it is accepted for you to be tardy is during an unavoidable emergency. Otherwise, it is your responsibility to be punctual and to adjust for any circumstances that may make you late.

Drive Business Value Up With Hashtags

hashtag-imageOne of the hardest parts of being an entrepreneur and owning a small business online is marketing. Marketing is everything, and is the only way for you to get your business out there, building your reputation, your client base, and to meet new collaborators and partners.

 

Marketing strategies are synonymous with business and you should be sure that you are using all of the tools you have to become efficient at marketing.

 

Social media is perhaps one of the most powerful tools you have at your disposal when it comes to marketing.

 

Social media has been the preferred choice of advertising since the mid 2000s, ever since the rise of the all of the major social sites such as Facebook, Twitter, and more recently, Google+, Tumblr, and Instagram.

 

Now, you know how to put up status messages on your Facebook and Twitter account, and you notice that they seem to be getting a pretty good response from your followers. People are sharing and re-tweeting your posts, and this is gaining you more traction and more followers.

 

But what if you wish that you could somehow improve your sphere of influence beyond your followers and your followers’ friends? Well, there is one simple solution for that, and it does not require any extra costs: hashtags.
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You may have noticed that hashtags carry the pound symbol (#) and that they are clickable. Clicking or searching for a hashtag will automatically bring you to a list of all the recent status updates that contain the hashtag. Hashtags can be found anywhere at the start, end, or middle of status message, and they can be identified by the pound symbol. For longer phrases, the spaces are removed to include them in a hashtag.

 

And now here’s an advanced twitter hashtags for business…….

So how do you effectively use them to drive up your business? Well, think of hashtags as keywords. They are searchable metatags that point people to your content. The more hashtags you use, the more visible your post will be. However, it is considered unethical to use more than five hashtags per post, as they are supposed to be a catch all tag that summarizes what your post is about.

 

You should always use hashtags that are related to the topic you post. It is a great way for others to search you and your products.

 

For example, if you are selling dog food wholesale, you may want to advertise sales by using common hashtags such as #dog, #dogfood, and #wholesale. These are all acceptable hashtags that will point those who are looking for dogwood in your direction.

 

Of course, hashtags have also become a sort of humorous outlet for a lot of people, using unique hashtags that people will likely not search for specifically.

 

This is great if you want to make your business seem a bit more hip and approachable, but such hashtags are mostly used for the benefit of people who are already your followers.twitter-image

 

Finally, hashtags can be used as a way to keep track of posts that are related to your business. This will allow you to catch a glimpse into the general opinion of your audience and their attitudes towards your business. You can then adjust accordingly to meet their needs.

How to Manage a Successful Online Shop

online-shoppingInternet shopping is becoming more and more popular as many people would rather stay home instead of braving the huge crowds during a sale.

It is also popular because of the ease of finding exactly what you need in just a few clicks of a button.

The internet has also become a great place to find items that are otherwise rare and difficult to find in local stores.

Now, I am sure that you want to manage your own online shop and know how I managed to be successful. Well, here are just a few tips to get you started.

Focus on a certain theme

We all know that online, niche marketing is extremely important. After all, the internet is a very large place, and you are likely competing with multiple stores in your immediate area, and in some ways, with all other stores all over the world.

That is why it is important to stick to just one specific theme, so that customers will be able to find you based on just one keyword. Once you have a loyal base of customers, you can then start to expand.

Here’s a step by step guide on how you can build your own online shop:

 

Focus on niche markets first instead of competing with massive “online malls” such as Amazon and Lazada.

For example, one of my earlier stores was a watch shop. I sold all sorts of different watches, from a waterproof sports watch to a fob watch which is ideal for nurses.

People started buying from me, and once I had the capital, I was able to move on to selling other things as well.

Present products nicely

You should always make sure that your products listed are presented honestly. You should always use your own images rather than relying on stock photos.

Provide multiple angles and fill out the description of your product. Include its material, its brand, and its dimensions among other things.online-shopping1

You should also make sure that your site is always updated regularly, and that you properly list items as “sold” and “available” to prevent confusion.

Interact with your customers

You should interact with your customers to show them that there is a real person behind your online shop.

If there are inquiries, reply to them in a polite, professional manner. Make sure that you reply to them within three days of their inquiry or less.

Offer Multiple Payment Options

Online, credit card purchases are one of the most common transactions. However, some people do not have credit cards or simply do not want to use them.

Offer options such as cash deposits, checks, Paypal, or even cash on delivery. More payment options means that more people can buy your products.

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Market your site

You should always market your site in order to get more customers.

Go to various social media sites to spread your site around.

You can also try online advertising and SEO techniques to improve marketing. Sell your company and showcase your products well.

A Few Myths Regarding Executive Coaching

coachingAs a successful businessman, I wanted to make sure that I have a legitimate certificate in executive coaching.

Executive coaching allows me to understand how to grow a business and how to help others reach their full potential in their own business ventures.

As a certified executive coach, I give speeches and seminars for young entrepreneurs. Of course, my coaching is done for free on the side, as my personal business takes up most of my time.

Nevertheless, having some training on business coaching myself, I am here to share some of the things that I have learned, including the myths that seem to surround business coaching.

Myth 1: Talented People Don’t Need Coaching

This is a very common myth since a lot of folks seem to be so confident with themselves that they think that they would not benefit from coaching. Now, while there are those who have succeeded from sheer talent alone, these mega entrepreneurs are one in a million.

On top of that, the talented among us can still benefit from coaching, which helps them hone their skills and to become more skilled at managing whatever business venture they can think of. After all, the good can always become better.

Image-by-afiqshazwan.blogspotMyth 2: Business Coaching Costs Too Much

Many people believe that business coaching is much too expensive and will cost more than the benefits you will reap from it. However, experience has told me that this is not the case.

Depending on where you study, executive coaching courses can be very affordable. On top of that, it is just one of the many investments that will help your business move forward.

Myth 3: An Executive Coach Will Solve All of Your Problems

Now, an executive coach is not necessarily an adviser. A business coach is there to help you come up with your own strategies in fixing your business, pushing you in the right direction.

They are not there to fix your problems for you, but rather, train you to solve your problems yourself.

Myth 4: Executive Coaching is Just the Same as Psychotherapy

Your coach is not your therapist, and while there are some psychoanalytic aspects to coaching, they are from from being a real replacement for a professional psychologist or psychiatrist.

Your executive coach is there to teach you how to become a leader and how to become a successful business man.

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Myth 5: Executive Coaching is for Entry Level Employees Only

Some people believe that executive coaching is best for entry level employees — fresh graduates who are still gaining experience about how a business works. However, I will tell you that people of all positions and experience levels will benefit from a comprehensive executive coaching course.

I know that I still visit my executive coach whenever I feel like I need a refresher. I like to keep up to date with my business findings, so that I can always stay one step ahead of the competition.