Business

When your business is ready to expand into new locations, sectors, or anything else, the biggest hurdle in the way is usually finances. Hoping that profits alone could help is a dilemma actually. Small to medium sized businesses rarely earn profits big enough to solely finance and expansion. But expanding is necessary to earn huge profits that investors expect. See the predicament.

No businesses, even the major corporations, find is easy to finance expanding business operations. But it must be done to dominate your niche. Amazon is a prime example of this phenomenon. It’s one of the biggest online retailers in the world; the brand that upended retail. And yet, Amazon has yet to turn a profit. The company instead raises funds to reinvest in everything from cloud-based services to Whole Foods. The result is a giant corporation that no one can ignore.

Now your small business might not become as big as Amazon, but that’s no reason not to be ambitious about expansions. Here are several options that might help you finance the project as you like:

Borrow Business Specific Loans

Borrowing is obviously the first, and usually the only, option for most small business owners. There are several ways to borrow money, and doing it right is important for avoiding crushing debt later.

You can seek personal loans or borrow against an asset you own. But you can avoid the risk of losing your assets by seeking out highly business specific private loans. For example, say you want to expand into freight transportation. You can seek out truck loans provided by reputable lenders in your area. Your loan would be then tied to the business, and not a personal asset that you could lose.

Seek Government Business Assistance

This is not a readily available option. But many countries have loan schemes to support small to medium sized business owners. These may not be widely available, but you can still try to research such financing options you might qualify for.

You can increase your chances of getting approved for a government financial assistance by paying down any personal debts you might own. Debts like mortgages are fine as long as its without delinquency. But if you have other non-secured debts, try to pay these down as soon as possible. You can consider an option like debt consolidation to help you pay off loans quicker.

Crowdfund Online

Small businesses rarely find angel investors, like they show in Silicon Valley movies. Angel investors are typically not interested in businesses not in the innovation sector. So when this option is not viable, you can instead try crowdfunding online.

It may not be easy, but it has worked for many enterprising entrepreneurs. As long as you have a good business idea that you can pitch to an online audience, crowdfunding should work.

Don’t hesitate to exhaust the above options before you give up on your dream of expanding the business. The above options are better for your financial security than doing something like taking out a second mortgage. Businesses are notoriously prone to volatile market risks. So don’t risk losing your family home. Use one of the above suggestions instead to raise funds to improve your small business venture.

Most of us understand the basics around making money from real estate, on the one hand you have the flippers who buy low and sell for a quick profit and on the other you have those with more long term plans with their properties. A third option however, and one which has been making hundreds of thousands of dollars for many investors is a private equity group. We normally think about the stock market and hedge funds when we talk about private equity but there are companies like TitleCard Capital who use this approach in the real estate market to, with great success, and here are the benefits of using such a system.

Background

These funds have existed for some time now but it wasn’t until the early 1990s that they really rose to prominence. The real estate market slumped and groups of wealthy investors and even families, would pool together their resources in order to scoop up as much real estate as possible. This worked very well for these people and these funds are still thriving today.

Diverse

If you invest $250,000 of your money then you may be able to purchase one property, perhaps two if you are smart and you can find bargains. What a pirate equity group will do however is pool the resources of a number of investors and they will buy multiple properties, spreading out the investment and boosting your chances of making strong returns. Diversifying your investment in this way is how you minimize your risk and your exposure. Markets change geographically and so having multiple properties across a number of different locations is how you can secure your investment.

Larger

The biggest upsides in real estate investment usually comes from the larger scale properties such as commercial buildings or mansions, something which most of us do not have the spending power to buy. When you invest in a vehicle such as private equity investment group, you will put yourself in a position to purchase properties like these, because it will be a pooled effort rather than the power of the individual investor.

Returns

The aim of any investment is of course to make strong returns and history has shown that investing in pools such as a private equity real estate firm can bring you very strong returns indeed. In most cases there is a cooling off period after your initial investment, usually around 8 years. Following this cooling off period however investors can count on annual returns of at least 6% and as high as 10%. It is these strong returns which draws people into this type of investment, combined with the additional benefits such as diversification of your portfolio, security and bigger spending power.

This is a great vehicle for anyone who is looking to get involved in real estate investment, the minimum investment usually sits at around the $250,000 mark but there are some which allow slightly smaller investment.

 

When you want to make an investment, private equity stands out as a really interesting option that needs to be taken into account. However, due diligence is always necessary since you should always carefully choose every single opportunity you put money in. Marc Leder highlights that one of the most important things at the end of the day is to be sure that all general risks associated with an asset class are understood. Private equity investments can be highly illiquid. Money is practically trapped until a specific scenario materializes.

Private equity investments are expensive, with much money being put into a business for the long run. Evaluations are needed since you need to be sure the investment is actually worth it. If the risk is too high, the investment is simply not worth it and should not be undertaken.

Before recommending private equity managers that work with clients, the investment strategy needs to be analyzed so that it is appropriate. Private equity investors are fully aware of all the risks that are associated with a business. All possible red flags are identified so nothing can come as a surprise.

Whenever a deal-breaker is noticed at any stage of private equity investment, the investor can pull the plug. An important thing that needs to be understood is there is never a shortage of companies that are looking for private equity funds. When a deal stands out as one that is not going to be profitable, the best thing that can be done is to just look for something else. Every single investor needs to take into account the strategy and plan of the manager in order to be sure everything is suitable, according to personal risk tolerance levels.

Generally speaking, private equity firms prefer the businesses that are making large operational improvements instead of companies that rely on the use of leverage. The track record of the company manager is always evaluated and researched. Obviously, the final decision is not solely based on the past results of a manager but those results are never ignored.

Fees should also be considered since they have the potential to impact long-term returns. Many private equity managers charge a 2% management fees and a carried interest of 20%. However, this is not always the case in modern business. Managers can charge more but they need to justify the higher fee. The exact same thing should be said about lower fees.

The bottom line is that private equity involves a lot of money and the investor is always interested in making sure the investment is going to be profitable in the long run. This is much easier said than done. Due diligence is needed because the private equity firm needs to understand everything about the current state of the business and the future earning potential. If there are signs that something bad will happen, a risk level is assigned. When this risk level is determined to be too high, the best thing that can be done is to simply not make the investment and not offer the funds.

 

John Robert Powers was a successful actor at the beginning of the 20th Century and it was always his belief that the very best talent could be found here in Chicago. With this in mind he set up the John Robert Powers agency for talent over 100 years ago, and it is still very much one of the country’s most important agencies for actors and models. So what is it about this agency which has made it so successful for such a long time? Well to find out we spoke to some of the team at John Robert Powers Chicago.

Honesty

Many don’t like it but here at John Robert Powers there is no filters when it comes to telling people whether they are good enough or not. This is not to say that they won’t give people a chance to improve of course but if you have dreams of being a star and you just don’t have what it takes, this is an agency which will review what you have done, and then give you a straight answer. So many agencies take on an abundance of clients only to drop them when someone better comes along, this doesn’t happen here at John Robert Powers.

Trust 

Because of the longevity of the agency they have built up excellent relationships across the film, TV, media and theater industries and this is why people enjoy working with the talent from John Robert Powers so much. From the very beginning this has been an agency which has sought to provide people the very best talent and they know that they can always rely on the agency to deliver. Some of their relationships have been in place for over 50 years and these are relationships which are built on trust.

Best Staff

The recruitment process for a position at the John Robert Powers agency is almost as tough as trying to get on their books and they only hire the very best in the business. What this means is that the talent have the very best chance of succeeding in the business because they are assisted and trained by the very best in the business. The agency actually counts on a number of staff who came through the agency themselves so they understand what this place is all about and just how important it is.

No Controversy 

Many of the talent agencies throughout the US have at one time or another been embroiled in some kind of controversy but in the case of John Robert Powers there has rarely even been a bad word said about them. The integrity of this agency is incredibly high and that is how they have managed to stay in business for so long, and create such a large network of clients and relationships.  

If you think you have the talent, this is the place to go to move up the ladder.

To ready more on topics like this, check out the business category.

You need to be cautious in asking your employees to help clean up the workplace. On the one hand, you want them to be responsible for managing their space. On the other hand, you do not want them to feel like you hired them to provide janitorial services. These tips will help you motivate them to clean and make them responsible without making it look like you are punishing them or demeaning their job.

Set a date for general cleaning

When everyone in the office is cleaning, anyone who hates doing it has no choice but to help. It will be awkward if even those who have high positions are doing their share. Besides, you do not have general cleaning all the time. You can have it once every two months or depending on the need. As long as you notify everyone about it and there is nothing significant to finish soon, you can do general cleaning.

Set rules

You need to make it clear to all your employees that you have longstanding practices regarding cleanliness. If they want to be a part of your family, they need to follow these rules. If they are not comfortable with it, they can opt not to work with you. Besides, these are simple rules that they need to follow even without someone telling them. They include cleaning up their dishes in the kitchen after use and observing the provisions for recycling used paper. It might be tricky at first, but all of them will eventually get the hang of it.

Create a game

You can design a game where you pit one department against the other. The team with the cleanest area at the end of the month or which is consistent in following rules will receive a prize. It does not have to be a monetary reward. The point is that you can give something in return for doing a great job. You are also promoting teamwork in the process.

Remind the team leader

There are different groups in the workplace, and each of them has a leader. You can remind this person to tell everyone about their responsibility to clean. It does not have to be a threat, but it can be a friendly reminder to their colleagues.

Get help

You want your employees to feel that they are getting help with cleaning the place. Hire janitorial services to help maintain the office and do the major tasks. You can also ask for a junk removal service since there will likely be piles of trash collected each day. You need help because of the volume of functions necessary to maintain the office. It does not mean though that all employees will rely on the services you hire.

Motivating employees to clean is not easy since they find it degrading. They are also too busy with their jobs to even bother cleaning. However, when they get used to the rules, and you provide constant reminders, it will not be difficult for them.

Image: Unsplash.com

 

Today it is true that if your digital marketing strategy is not up to par, you will likely be losing business to competitors. Digital marketing has become so important because everyone is online these days and to get their attention you must go online and become a part of their digital world.

Companies that understand the importance of placing digital marketing at the center of their marketing efforts also understand that the way to get the most out of digital marketing is to utilize a range of strategies. The top digital marketing strategies today are social media marketing, SEO, email marketing and digital PR. Each has its benefits and collectively they provide a total approach to online marketing. Here are two of the top digital marketing strategies, digital PR and social media marketing, and why they are so effective.

Digital PR

Digital PR agencies cover the range of PR provided by traditional PR companies meaning distribution of company achievements and good news to periodicals. They also stay on top of all relevant news your company needs to know and makes sure that you are made aware of it. However these firms provide much more than these services.

They disseminate information about your company to online outlets and into social media, blogs websites. They infiltrate online communities and start relevant conversations with your target markets and create dialogues that get them interested in your company.

They create media that fits into the feel and tone of existing interactions. By coordinating these efforts and making sure that information delivered is consistent and high quality across all mediums, your company gains traction with potential customers no matter where they make contact with information about you.

Social Media Marketing

Each day more than 3 billion people interact with social media platforms. The biggest include Facebook, Instagram, Linkedin, Twitter and Snapchat and people come online in droves to them to find out the latest news, and hot happenings. They also use these opportunities to chat with friends and family members and to share updates and even gossip. People spend hours on these platforms and there is ample opportunity for brands to make contact with consumers to market their products.

The strategy for getting this done effectively however is often counterintuitive to brands who want to push their products to waiting audiences aggressively. Instead social media members want to be soft sold. They want to fall in love with the brand or product before being pushed to buy. This can happen in a number of ways and brands should engage a digital PR firm or digital agency in order to take advantage of working versions of these approaches.

Utilizing a Digital PR firms and social media marketing techniques can position a company with large worldwide audiences. These strategies for getting this done effectively are complicated but have been mastered by top digital marketing and PR firms.

 

Shopping for products and services online is the norm now. Let’s face it, who wants to spend time in a crowded retail store shopping for something that might not even be there? More and more sales are being conducted online, making ecommerce a lucrative business in 2019.

Now is the time to get your ecommerce business up-and-running. If you already have one set in place, you should be focusing on your customers and making the ordering process run smoothly. The best way to do this is by investing in an order management system.

No matter how extensive your ecommerce business is, you probably have some sort of system set in place for managing your orders and inventory. Depending on the size of your company, this could just be in the form of a basic excel spreadsheet. But you are doing your business an injustice by not having a proper software to control the entire ordering process.

Here’s how investing in an order management system can work wonders for your ecommerce business.

It cuts down on processing time

With an OMS, all of your company information is in a central location. This allows you to process every order from one easy to use platform. Once a customer places an order, you’ll have instant access to the details; this means that processing the order is not just easy, but also fast. Faster processing time leads to faster shipment and a speedy delivery.

There is less chance of error when processing orders

If your current ordering system is not automated, there is a higher chance of human error. Collecting and inputting data manually can be tedious, and there is always the possibility of making a mistake. An order management software allows for automatic updates and no need for manual input, so errors in processing orders are unlikely.

It improves inventory management

If you’re running a major operation, you probably have multiple sales channels. Worldwide corporations have warehouses all over the globe, so keeping track of inventory is essentially impossible without the proper software in place. No matter if a product is sold, returned, or exchanged for something else, an OMS will update this information in real time.

The customer will have a better experience

An order management system controls everything from browsing the online site to product delivery at the customer’s door. The right software cuts down on order processing time, helps to track packages, and speeds up delivery. When everything runs smoothly, this leads to a happy customer. A happy customer is a returning one, which is essential for the growth of any business.

You can manage your orders from anywhere in the world

One major perk of running an online-based business is that it can be done from anywhere in the world. This is made even easier when you invest in an order management system. You’ll be able to access all of your vital information online at any time, making it easy to work from a beach in Costa Rica or your flat in New York.

 

 

To a passer-by, all construction zones look the same. They are filled with heavy duty machines and teams of people from different trades. They can more or less identify what machines do what job, like an excavator, cement mixer, and a crane. These are machines have become a common staple being replicated as children’s toys and hobby models. However, anyone in construction knows that many machines are mistaken for another and that there are sub-types that have specialised features. A common mistake would be between a crane and a derrick.

Similarities between the two machines

Marking out the differences between the two machines might be difficult because they mainly do the same job: heavy lifting and transporting. When you look at their definitions, it clearly outlines the grey area between the two.

A crane is a machine that makes use of a hoist rope, wire rope, or chain with a sheave (a pulley system) to lift heavy objects. A derrick is a machine that makes use of a least one guyed mast or self-supporting tower and a boom. To lift objects, it adjusts the guy wires.

Both are machines that have a history that spans as far back as ancient times. Their designs have worked by making use of human and animal effort and transitioned to technological advancements such as the steam engine or hydraulics. Their size determines how much weight they can carry. They are both seen in industrialised areas.

Features that are unique to the derrick

The main differences between the two machines come down to movement and set-up. A derrick is typically set in a fixed place. It transports objects from side to side by manipulating the guy wires. There are different kinds of setups that play around with the position of the mast and the boom as well as the number of masts and booms. A quick list of different kinds of derricks would include the guy, shearleg, stiffleg, and gin pole. A derrick is most commonly seen on oil rigs or cargo ships and at ports.

Features that are unique to the crane

Essentially, the crane’s job is to lift; their movement is up and down. There are two categories for cranes: mobile and fixed. These categories account for the other features of the crane. They can transport items via a pick and carry method for mobile types. Even fixed cranes, which have given up their mobility to be able to handle heavier loads, have their way of transporting material by adjusting the length of the boom. Compared to the derrick, the crane is more mobile. You might have seen them cruising down the highway to their next job. Check out crane hire Peterborough companies offer, to have a better understanding of how cranes work.

There is one case where the derrick and crane can work in tandem. It is when a crane, a pulley system, is fitted to a derrick that allows the machine to lift and carry. At a distance, both may look alike with the tall steel frames that stretch out. However, up close you’ll notice the difference immediately, even though a fixed crane and a derrick accomplish the same job through different means.

 

Renting construction machinery has become more popular for various reasons. Some of the main reasons why many construction firms prefer renting machinery include the unpredictable market and increasing cost of purchasing equipment.

Other construction companies prefer this option because it gives them the opportunity to minimise costs and operate their business more smoothly. As you read on, you will learn about the top benefits of renting construction machinery.

Say goodbye to hefty initial purchase costs

Buying new construction machinery can cost a lot of money. That’s why more construction firm owners prefer investing their money in rentals. They can allocate more funds to developing their services and hiring more seasoned workers.

Minimise repair and maintenance costs

If you own construction equipment such as a backhoe and a pay loader, you will surely need to invest money in maintaining them. You have to purchase spare parts so that you can troubleshoot defective equipment fast; otherwise, you might end up delaying the project completion date.

By choosing to rent the equipment, you can worry less about maintenance costs because the rental company can take care of it for you. Most rental companies like Ruttle Plant Hire in Preston include maintenance services in the rental package.

Get more value for your money

The market tends to fluctuate. Hence, it’s crucial for you to choose smarter and more flexible investments. In case you meet problems along the way, at least you won’t have a tough time liquidating your company assets such as the construction machinery.

Don’t worry about depreciating value

The worst part about purchasing new equipment is that its market value diminishes over time. If you invest£30,000 to £40,000in a backhoe this year, it’s value may depreciate after a couple of years.

To compute for the depreciation of your equipment, use the formula (P’ – S)/N. P stands for the purchase price, S stands for the salvage value and N for the economic life.

Unless you don’t mind allocating a significant percentage of your money to purchasing new machinery, you should definitely opt for rental instead.

Minimise your problems with transporting equipment

It’s most likely that you handle a lot of projects at the same time. That’s why you need to have pieces of machinery that you can readily dispatch to the client location. It’s quite impractical to purchase one piece of equipment if you can use the money to rent two units instead. You can avoid major delays if you can minimise logistical costs.

Avoid having storage issues

If you can’t allocate enough space for a piece of equipment or if you don’t have enough budget for long-term storage, it’s better for you to choose plant hire instead. Once you complete using the machine, you can readily return it to the rental company.

Numerous construction firms now prefer renting various types of equipment because it’s more economical as compared to buying a unit. Take note of the different benefits you can get from renting a piece of construction equipment, especially when you’re not sure if you should rent or purchase construction machinery.

 

Business owners need to be smart about how they advertise their company. There are tons of strategies available to ensure that a business remains popular. One of the most popular techniques for advertising today is social media marketing. People are on social media all the time. They spend hours each day scrolling their Facebook or Instagram accounts even if they are not searching for anything in particular. Therefore, you need to focus on social media marketing and hire digital marketing agencies like a Digital Agency in Sheffield.

Increase brand awareness

You don’t expect people to buy what you have to offer right away. However, you can expose them to your brand and remind them about your products and services. At some point, they will respond to you and potentially be a customer. Liking your posts and sharing them will help increase visibility and online presence.

A boost in inbound traffic

Social media posts can reach people around the world. When a post goes viral, millions of people can see it. If you succeed in attracting people to like and share your post, it could reach thousands of people in a few hours. If some of them feel interested, they will click the link that leads to your main website. They can scroll for further information and eventually buy the products you offer.

Improved rankings in search engines

Every company wants to be on the first page of Google when people start seeking information. There is a good possibility that they will open only the first page because it contains the most relevant information. You won’t find people who will go through the following pages until they see what they want. Therefore, focusing on social media and optimising keywords will help ensure that your link will appear first in search engines. It is not easy given the choices available, but social media management helps.

Higher conversion rates

You can sell directly to people if you have a social media account. It increases your chances of selling products and services. Social media speeds up the process. You advertise to people through your site and optimise it using SEO techniques. You hope that people see your website, scroll for information, and buy your products.

Improved loyalty to your brand

If people keep seeing your posts and they know that other people are also patronising what you have to offer, they will also feel inclined to buy what you suggest. They will remain loyal to you because they understand your popularity. They want to stick with brands that other people also patronise. It is not easy to retain loyalty, but you can do it if you work hard on your social media strategies.

With the help of a marketing agency that offers expertise in social media marketing, you can easily do all of these things. You don’t need to think of managing all your social media accounts or responding to people if they have enquiries and other issues.

Image: Unsplash.com