While we’re on the subject of freedom, financial freedom can seem very elusive, and the beginning of this year has certainly not gone according to anyone’s plan. But that doesn’t mean it isn’t a good time to take stock of past decisions and set your sights towards financial independence.

Check In

How is your plan going so far? Check in on your investments, your savings, your income to debt ratio. Speak with your fiduciary advisor and make the necessary adjustments needed in order to survive the earlier part of the year, especially if you’ve veered off course. While outlining and shifting, remember to always keep your financial goals realistic. By planning for unreachable things, we will be unsuccessful, find ourselves further from the actual goal and feel like we’re failing.

Pay Down Debt

Many people find themselves in some financial trouble. It’s nothing to be ashamed of, especially considering these current peculiar circumstances. If you can’t pay off your debt, make it a priority to implement a plan and begin paying it down immediately. Focus on tackling the highest interest rates first, and move on from there, always paying the minimum when you can’t pay more. Avoid, if possible, taking on any new debt, like a credit card. Although it can help in the short term, it can be a slippery slope and contribute more to debt than to getting out of debt.

Seek New Opportunities

Whether it be a hobby, or a freelance option, consulting, or just picking up extra shifts. If erasing your debt and finding financial independence is important to you, then earning extra income should be as well. Know your worth and your value and make the next move to achieve your financial goals. Start working a side job on the weekends, ask for that promotion, or better yet, monetize your hobbies.

Stay Away From the Joneses

We watched our parents do it and said that we would never get so caught up with our neighbors. But many people do get trapped trying to “keep up with the Joneses.” Ignoring what people around you are buying is no easy task, but you must keep your eyes on your own prize, not your neighbor’s. Their situation may be completely different from yours, and if you try to match them you’ll find yourself struggling with more debt, not freeing yourself from it.

Use your time wisely and spend your money in a smart way. Financial independence is a lofty, but very attainable goal. If complete independence is not the target, these decisions, steps and plans will help you reduce your debt, and live a more financially sustainable life.

 

Running a restaurant is no easy feat. According to FSR Magazine, “sixty percent of restaurants don’t make it past their first year and 80 percent go out of business within five years.” With disheartening statistics like these, how is it that some restaurants not only survive, but prosper?

While the economy rises and falls unpredictably, restaurant patrons will always want high-quality food and customer service. To provide customers what they want and to prevent your business from going under, try these seven tips for restaurant success.

Tip #1: Make A Realistic Assessment of Your Position

It’s hard to watch your business struggling; the worry reaches into your soul and affects your state of mind. However, you need to deeply analyze your situation in order to improve your revenue. This exercise will give you a starting position for your comeback:

• Analyze your business’ operations from every angle to make an honest and thorough assessment. Be brutally honest and address your operations, suppliers, staff, customers and yourself.
• Gather all the bills, open up your bank statement, and evaluate your customer influx to get an accurate, full-picture view of your situation. Leave no stone unturned, and look at everything from employee scheduling and payroll to how you manage your inventory.

Tip #2: Reconsider Your Menu

You derive your revenue from your menu, so it’s an excellent place to start when it comes to saving your restaurant. The vital question is, are you correctly pricing your food?

If your food has miscalculated prices well, then you are undermining all business operations. Your menu pricing should take into consideration:

• The total cost of the necessary ingredients
• The cost of staff labor to prepare the item
• Overhead expenses, such as rent and bills
• Your desired profit margin

You may have to consider streamlining and simplifying your menu. It’s common for restaurants to have an unnecessarily long menu in the interest of trying to serve as many customers as possible. However, if menu options don’t get ordered often, it creates waste.

Minimizing your menu has down-the-line benefits such as:

• Lower inventory, so cash is not held up in stock
• Purchases are more straightforward, and storage costs are lower
• Fewer staff are needed to cook and serve a shorter menu

Choosing which menu items to keep on the menu is a balancing act. You will have to evaluate:

• Customer demand for each menu item
• The profit margins on each menu item
• Which menu items use similar ingredients so that you minimize waste

Tip #3: Upgrade Your POS System

Over the years, POS system technology has come a long way. For example, there are now quality POS systems on the market that can handle multiple payment methods, including cash, card and digital payments. They are also able to integrate with third-party apps, making them versatile.

Now, you can even opt for a cloud-based POS system, which have the following benefits:

• Are cheaper to adopt and maintain
• Provide real-time reporting
• Can store unlimited data
• Allow for remote management
• Can scale up or down quickly, thereby saving the restaurant money
• Have better security software

 

Quality POS systems come with additional sales, inventory management, staff scheduling and customer management features. These features not only provide you with better management tools, but they also reduce the cost of technology acquisition. You can click here to learn more about restaurant POS software.

Tip #4: Update Your Website and Increase Your Social Media Presence

The internet is the widest-reaching, most affordable mass marketing tool in the world. If you invest in your online presence, you can get a better ROI than in most available marketing channels. To be more visible online, list your business on third-party listing sites such as FourSquare and Google My Business.

More customers are buying their food online if you have no online presence, they will not be able to find you. Make sure that your online menu is easy to read. Social media marketing is also extremely successful for restaurants that post high-quality images of their food and ambiance.

Tip #5: Reassess Your Staff

Staff is essential to keep operations running smoothly. It’s best to let them know the situation the restaurant is in, that way they can understand and more importantly support the hard decisions you will have to make.

To make sense of the numbers, you may have to let go of some staff members. Focus on keeping the essential and most productive staff members. Those that do stay may have to take pay cuts to help bolster your restaurant’s cash flow.

Tip #6: Make Customers Come Back for More

Do not underestimate the power of repeat business. Think about the amount of effort and money that goes into acquiring a new customer; now compare that to a customer who simply comes back with a little prompting from you. The costs are lower for a repeat customer, and over time, the sales will out shadow the costs of serving that customer.

Creating s great customer experience forms the foundation of getting repeat customers. So your food must be great, the staff has to be pleasant, and the ambience agreeable.

After that, you can incentivize customers to come back through loyalty programs and reward points. These can be run on your restaurant’s mobile app and connected to your POS system for efficiency.

Tip #7: Negotiate

Your business does not operate in isolation; it has many stakeholders such as local council, supplies, staff and customers. These stakeholders rely on your business to stay open, so leverage that as you negotiate every part of your business. Take these examples:

• A bank is more interested in you paying off your restaurant loan and coming back for more loans. So if you can show them a recovery plan that includes the steps above, they can give you breathing room.
• The same applies to suppliers and most creditors. They can offer your restaurant terms to ease your cash flow if they do not budge then simply look for new, more understanding suppliers.
• Customers are never keen to switch from their regular restaurant’s. If you can communicate your situation and provide a solution that is painless but beneficial to you, then they will comply. For example, you can explain that third-party delivery apps take commission which eats into your profits, so you request all customers to order directly from your app to retain more revenue.

Nothing Worth Doing Is Easy

Every business has its ups and downs. Just keep in mind that surviving the low points takes perseverance, planning and execution. Follow the above tips and give your restaurant a fighting chance, but be aware that that success will not happen overnight. Do the right things, and over time, your restaurant will become not only sustainable, but profitable.

 

Back in 2004 the social media platform Facebook launched and for a few years this was the most popular social networking site, that was used by billions of people from all over the world. Six years after the development of Facebook, in 2010 another incredible platform called Instagram launched and since then all the statistics have changed. The platform evolved so fast that in 2012, Mark Zuckerberg, the owner of Facebook decided to buy Instagram and to eliminate the competition.

No matter that now Facebook owns Instagram, the research studies show that the community on Instagram is growing much faster than the one Facebook. Mostly teenagers and adults have moved from Facebook to Instagram but many social media experts’ opinion is that the attention of the audience will be focused mainly on Instagram in the next few years. Both of these platforms support great tools that are great for every business marketing strategy so in this article we will compare both platforms in order to understand which one will work better for your business niche.

• Engagement. If you are a business owner and you aim to achieve success by promoting your goods and services through social media ,you should be aware of the fact that the most essential part of building a successful online empire is the engagement rate. At the moment Instagram is the winner of this area. This platform provides to its users more tools that actually engage others and attract more people. Facebook is also a great platform for advertising and engaging but statistics show that Instagram is more beneficial when it comes to establishing online presence. Moreover you can buy real followers on Instagram which will help you to establish your audience quickly.
• Instagram Story/My day. These two tools are actually absolutely the same features just in two different platforms. When you upload a picture or video on your story both on Facebook and Instagram ,this content will be visible for the other users for just 24 hours and after that it will disappear automatically. In fact, not long ago first Instagram added a new tool, called “Highlights” where people can save their stories and keep them visible on their profiles constantly. A few months after that with one of its updates Facebook started supporting the same function. These features are also really powerful for improving engagement rates as many social media experts’ opinion is that stories are one of the most engaging tools.
• Reach extension. Both Facebook and Instagram are platforms that are used from billions of users from all around the globe. These platforms are capable of making your business ultra-viral by extending your reach. By promoting whether yourself or your business/brand online you increase your chances to reach a huge followers count that can be easily converted into a customers’ base.
• Brand growth. Since 2004 Facebook is the best platform for advertising and business marketing. There are many worldwide popular brands that gained their fame owing to Facebook. However Instagram has also started e-commerce and business advertising and we can say that it can be even better than the Facebook’ e-commerce function, because users are allowed to target the audience they would like to reach by focusing on many criteria that Facebook does not support.

In this article our team has prepared a few criteria in order to compare Instagram to Facebook from different aspects. We can say that both platforms are great for both personal usage and business improvement and they can benefit you a lot. If you are a business owner, but you do not promote your business on these platforms, hurry up and join them and grow your business faster and easier.

 

The World Health Organization (WHO) has declared the coronavirus a global pandemic as it continues to spread worldwide. It has resulted in businesses across different industries experiencing serious downturns. The world has focused all its time, energy, and efforts in slowing down the spread of the virus and minimizing the damage it has caused. Meanwhile, economies all over the world have come to a standstill.

While all industries are affected by COVID-19 in one way or the other, the impact on some sectors has been more severe. In this article, we will discuss the industries that have been hit the hardest by the novel coronavirus:

• AIRLINES

As both domestic and international flights become restricted all over the world, the airline industry is hit hard by the ongoing pandemic. According to experts, the spread of the virus has caused the passenger revenue to decline significantly. It has resulted in a loss of billions in revenue for airline businesses. Several airlines have even gone bankrupt. In response, many airlines are limiting their operations and asking their staff to go on unpaid leaves to prepare for the tough times ahead.

• SHIPPING

The majority of businesses that rely on international shipments have experienced disruptions in their supply chains because of the problems faced by the shipping industry due to coronavirus. China itself was one of the largest exporters and shipping hubs in the world. But being the source of the virus, it had no option but to close its ports for the time being. In our globalized industry, custom brokerage businesses have suffered greatly due to the restrictions imposed on the movement of goods across borders.

• HOTELS

As the majority of the population decides to stay at home to protect themselves from the coronavirus, the hotel industry has seen a sharp decline in its demand. In response, hotels have no choice but to lay off hundreds of their employees to cut costs. Even the largest names like Marriot are planning to furlough a significant number of employees in light of the current economic crisis.

On the other hand, the major tourist destinations have also been hit the hardest as their economy is fueled by the income generated during the peak tourist seasons.

• RESTAURANTS AND CATERING

With most restaurants across the world having to close down their dine-in facilities to reduce the spread of COVID-19, the restaurant industry has experienced a significant loss of revenue. Some have decided to close down for an indefinite period due to their inability to keep up with their expenses, while others continue to be open for only take-away and delivery. However, even those that are open are uncertain whether they will be able to continue being in business in the near future. Because with limited revenues, keeping the business afloat is likely to be a continuous struggle.

• ENTERTAINMENT

As authorities shut down all of the leisure facilities in an attempt to enforce social distancing policies, the entertainment industry has been bearing the brunt of the global pandemic too. All concerts, sporting events, and exhibitions have been removed from the 2020 calendar, and cafes and bars closed to adhere to the lockdown measures. With all movie theatres and cinemas expected to be closed for the next few months, all major movie releases have also been pushed back.

• PETROLEUM

China was amongst the largest oil consumers and importers in the world before the COVID-19 outbreak. As demand from the country fell significantly following the spread of the disease, this automatically resulted in a sharp decrease in crude oil prices on the international market. This unexpected fall in oil prices caused a lot of panic on the stock markets, ultimately causing the oil prices to crash.

The market for crude oil is very responsive to any changes in the world economy, and if this pandemic continues, there are concerns that oil prices could fall further.

• REAL ESTATE

As the global economies continue to be affected by the pandemic in alarming ways, declining incomes and uncertainty about the future have reduced the willingness of consumers to invest in real estate. Construction projects have been suspended while real estate sales have hit an all-time low. Small to medium-sized real estate businesses are the most affected. If the current situation continues, we might see them selling properties at low prices in return for some fast income.

THE FINAL WORDS

The COVID-19 outbreak has affected businesses worldwide, regardless of their size and the industry they operate in. While many companies have been forced to curtail their operations due to the lockdown measures, many of their expenses remain the same, and they must find a way to pay rent, bills, interest, and salaries during these challenging times. We can only hope that the future brings prosperity for us all, but only time will tell how this global pandemic will end up changing the world.

 

You are starting a business, and it calls for strong determination and the desire to succeed. Undoubtedly, it is about finance too. There are millions of people who have written a success story with modest amounts of investment or took the plunge with the help of loans. You can take inspiration and get started. Read on to know more.

The first and foremost way to start your small business is to have an idea. Think about a company that you can set up with a minimum amount of money. You have to be very clear with the blueprint before you step into the entrepreneurial filed. There are so many ventures that can kick-start with lesser amount.

The role of online lenders

Online loan is the best way to address all your loan and funding requirements. Fortunately, there are reputed and reliable players to choose from. It is similar to getting a loan from anywhere else; it is more convenient. The new lenders on the scene make borrowing as simple and easy as possible, all for the benefit of the borrowers.

Many players abound the lending market now. Online lenders provide the best option when it comes to small business loans. It is a fast and convenient method for funding. There are major benefits of applying for loans online. One of the most attractive features of sourcing funds inline is less time and less paperwork. Some of the advantages of alternative funding facility include;

1 – Faster approvals, within minutes

2 – Quick funding, within 24 hours.

3 – Simple qualification requirements and criteria

4 – Elimination of overdraft fees

5 – Elimination of bad check or late fees

Online loans provide you with the finance that you need to deal with any emergency- you can always pay back in the future. When you meet the eligibility checks and get an approval, you can utilize these funds for any purpose that you deem fit. It can relate to your business or peripherals related to your business.

The requirements

Big or small, when you are into business, you need funds. The need arises due to delayed payments, expansions, and unforeseen circumstances. Whatever the reason, a loan always helps. Apart from savings, a loan is the most appropriate source of funding. There are many options for you to obtain loans. Online lenders come with convenience and flexibility features. However, you must meet with specific criteria to be eligible for approval.

Nowadays, the loan process is quite simple. It’s hassle-free with online application feature and speedy documentation. Here are some guidelines to help you move forward in the right direction.

1 – Check your eligibility against the eligibility set by lending firms.

2 – Ready the soft copies as well as hard copies of the required documents ready

3 – Know about the exact amount that you need and don’t incur extra expenses

4 – Prepare your financials and credit history by ensuring no bouncing of cheques.

5 – Check your credit score regularly, check for errors and get rectifications

Several ideas of small business can fuel your aspirations. You can take advantage of business loans that are available in the market. Whether you are already in the industry and require extra finance, or need to expand with limited means, the option of small business credits is always there for you.

To wrap it up 

Starting a business or planning expansion can be a daunting task. Follow the guidelines and ensure that you get instant approvals with 100 per cent transparency. Get in touch with an online agency that provides small business loans to meet your financial requirements for business growth.

 

Classified ads are one of the great classics of the Internet and can be very useful for finding what you are looking for, since, unlike search engines, they work with much greater interaction between search and users, who will be able to compare different parameters such as price, condition, product or service.

Online Classified Ads

Within classified ads there are two main options, and one does not have to be worse than the other, it all depends on what you want to buy or sell:

1. Free classified ads: As its name suggests, in principle it will not cost you anything to put the ad in this type of program, but then they can have premium functions or have buy / sell commissions.
2. Paid classified ads: Set a fee per ad or per words.

What are Classified Ads for?

The main function of online classified ads is, as we told you above, to enable the purchase / sale of articles and services, that is, to exercise marketplaces between individuals, with which the transaction is simple and direct, without intermediaries.

The good part of this is that they are fast shipments, the product reaches its destination, it is paid and both parts are happy.

Now, there are many classified ad pages such like as replaced Backpage in Australia, some are specific (also called “niche”) and others are general, so much so that you can buy anything from used telephones in OLX to apartments, through babysitter services, a whole world to your reach!

The Big Market for Online Classified Ads

Within which they are still used in countries in which a good Internet culture has been reached, such as the United States or Europe, their main flourishing market at present are South American countries such as Mexico, Venezuela or Bolivia, where they are hitting very hard. and they still have a way to go.

Tips for Drafting Classified Ads

Classified ads are those that are disseminated through the written press, either through newspapers or magazines and are made with the intention of selling a good or a service. Due to its low cost, it is an ideal tool for positioning an SME.

Here are Some Tips that will help you Write it Effectively

• Use keywords: if you do not distinguish your ad from others, you will not attract the attention of the public. Use bold and words that captivate your eyes, for example, for sale, attention and available.
• Create an ad urgently: be brief but concise with the phrases you use. Try not to use more than five words or you will have less space to describe your offer, leading to confusion.
• Describe the product: that the words you choose to write the ad describe what it really is. Consider the year, size, and condition.
• Do not publish the price: if you give good details in the insurance ad, they will call you without having to say the cost of the product. Unless it’s a price with an exceptional offer.
• Leave your contacts: never forget to provide your phone numbers, address, website and even social networks.
• Categorize your ad: no matter how well written the ad is, if it is not in the right section it will not sell.
• Publish it in the medium that your target audience reads: it is useless to launch the best advertisement in a medium that your target audience does not read, that is why it is important to analyze which newspapers and magazines that sector reads.
• Use simple language: use short words, avoid punctuation marks and abbreviations.
• Indicate your readers what to do: “call”, “write”, “visit us”, among others.
• Check the final product: whenever you launch a classified ad in a newspaper, look for your ad in the newspaper and rectify that it has no errors and that it is as requested.

Now, tell us about your experience, have you ever used this type of classified ads? With what result?

 

Nine University offer an online course which teaches people how to set up a smart and successful Amazon FBA business. If you look at any Nine University review then you will see very quickly that the course available with NU, is one of the best online and the glowing feedback is incredible. Nine University have tow reasons as to why they are seeing more people take their courses than ever before. The first is that the course i very well designed, structured and offers so much to students, the second is that Amazon FBA is becoming a very hot topic, and more people want to learn about it.

Fulfillment by Amazon

Fulfillment by Amazon is a business model whereby goods are sold through the online giant’s website, then the products are packed and shipped by Amazon to the customer. Amazon will also store these products so that they can ensure fast shipping once a customer has made a purchase. Naturally there is a fee which businesses must pay, but in return they are able to count on a plethora of benefits.

Stories of Success

One of the key reasons why more people are looking set up their very own Amazon FBA business is that the success stories which they have been hearing about have been proven to be true. This is something we see all of the time online, empty promises of impossible success, and this is probably why many reserved their judgment when they began hearing abut people making tens of thousands per month through an Amazon FBA business. There are just so many stories like this out there and the evidence has become irrefutable. Once people realized how much money they were leaving on the table, they decided to get involved.

Accessible

One of the biggest benefits and motivating factors behind why so many people are looking to launch this type of business is that they can launch the business with very little up front costs. Some people have created an Amazon FBA business which is bringing in thousands of dollars worth of revenue each month, with just $1000. Naturally the more that you have the bigger chance you have of finding success quicker, but even if you do just have a small amount, you can still ensure that you can set up a business, which will have a chance of success.

Growth of Online

You only have to see the number of shops which have closed in the high street to recognize the fact that the internet is now the number one place for shopping, and more and more people are beginning to recognize that. Much has to be done to save the high street of course but as long as the numbers of shoppers using Amazon increases, so too will the number of people who wish to make money from those shoppers.

This is why Amazon FBA has become so attractive to so many.

 

More and more families are finding themselves using reusable tote bags to help them in keeping their environmental impact to a minimum. It is important that people understand the many advantages of utilizing these bags versus regular plastic bags.

Below you’ll find five eco-friendly advantages to utilizing a custom tote bag rather than your normal plastic or paper bags. Consider these advantages and how you can use the bags in your every day life!

Reduce Clutter

One great advantage of using custom printed bags is that you reduce the clutter around your home. So many people have hundreds of plastic bags tucked away in closets, drawers, and cabinets. This clutter is easily taken away when you stop bringing them into the home and stick to using custom bags only.

Reduce Money Wasted

Consider the money that goes into not only making the plastic bags but also in disposing of them. Millions of dollars spent each year to help these items go to the landfill where they take years to disappear. In some cases, they never will. It is important that you consider using the reusable totes due to the reduction in cost to make and dispose of the plastic. Also, some states are now charging you for the plastic bags. It saves you money, in the long run, to have your own bags before you ever set foot in the store.

More Durability

These bags are more durable and reliable than plastic or paper. These canvas tote bags can help you carry heavier loads in one bag versus the many plastic ones you may need for the same items. Because they are so durable, it also reduces the risk of dropping or spilling grocery items before you can get them into your home.

Reduce Impact On Planet

As previously mentioned, these items take a long time to degrade. They are making a huge impact on the landfills every single day. By using these custom bags, you’re reducing the footprint you leave behind. It also reduces the impact that making the plastic has on the environment.

Multiple Uses

These bags can be utilized for multiple things. You can use them to store items in the home in one place. Use these bags to take your library books back and forth or to purchase your weekly groceries. Also, these bags make a great addition when you want to take the family out for the day. Pack your sunscreen, lunch items, towels, etc. all in one handy bag. These custom bags are great to reduce your clutter in the car as well. Everything can be kept securely and neatly all in one area.

These are just five of the eco-friendly advantages you’ll find to using custom bags for your everyday life. You can add a variety of sizes, colors, and designs to your bag collection to help limit your impact on the planet around you. You don’t have to worry about recycling the plastic or paper and you have stylish accessories to pick up your shopping items or spend the day at the park.

 

Computers have come a long way since Charles Babbage designed its basic framework. From the big bulky technology used by the military to personal computers less than a decade ago, the trend has shifted to more portable devices such as laptops. A business will need at least one to keep up with a dog-eat-dog rivalry in its industry. With new technology coming in at a fast pace, it may be impractical to buy laptops for everyone. So the most realistic solution for companies would be to rent a laptop.

If you own a business, you may have noticed that your business will always need to be one step ahead of the competition. Giving your staff the right tools will help push the company in the right direction. A laptop is one such device that is necessary for a progressing company. They can access information whenever needed, and also bring their creativity with them wherever they go. It is best to rent a laptop due to the following reasons.

Your laptop will be outdated after a few months.

Technology evolves in leaps and bounds, and laptops are the first ones to get hit by the changes. Once you purchase one, it is already decreasing in value the minute you walk out the door. Use it for a few months of time, and it will already be outdated, with possible system lags. A rented computer or laptop allows your company to improve productivity due to speed and office application usage.

Also, renting a laptop gives your company a more professional look. If you have a client presentation, they will see that you hold the latest technology. So they will trust your brand more, giving you a chance to seal that coveted deal.

Repairing a laptop will be expensive.

A broken or slow laptop is the start of an unproductive employee’s hour. The worst part is if it suddenly gets a virus and stops completely. If your company owns the computer, you will do everything in your power to resuscitate it. It will be more expensive, especially if there are parts that need replacing or system upgrades, whereas opting to rent laptops for your employees can allow you to rent newer models every once in a while.

Renting a laptop is more affordable.

No matter how good an employer you are, your employees do not last forever. They may leave the company for whatever reason. A laptop without an owner is useless. But laptop-renting gives more flexibility. You can rent a computer for an employee. When they leave, you can give it back to the rental or leasing company. And when someone else takes their place, then you can rent a newer one yet again. It is hassle-free and will not cost you as much.

Test-drive a laptop you want to purchase. 

Maybe you want to upgrade the laptops of your staff, but you do not know which model to pick. Rent one or two for a test drive. Let your most trusted and knowledgeable employees use these since they would be the ones who would utilize them the most. Then choose what seems to be the best option.

Renting out a laptop for your employees is a necessity in any business. It will be a big boost in productivity, creativity, and company loyalty.

Author – Ben Williams