by James Holden | Jul 30, 2021 | Business News
Bank loans can be used for many different purposes. They can be used to acquire new inventory or equipment, to finance an expansion project, and to obtain working capital and funding for business growth. Take, for instance, this scenario to better understand why a business opts for a loan. Assume you are an entrepreneur who wants to expand your business and acquire more customers. You would need to focus on a couple of things for doing so. You may have to improve your existing product by perhaps conducting market research (for which you have to take the help of research programs offered by different firms). Besides this, you may have to market those improvements to let your customers know about the changes (for which you may have to take the help of an SMS marketing platform offered by Heymarket and its likes). There could be various other operations required in order to make the improved product successful, all of which would cost a great deal of money. Now, you would surely not deplete your own savings for all the business operations, would you? No, right? That is why opting for a loan can be your best option. The truth is loans are a time-honored and very reliable way of financing a business, but the terms that they offer are often quite strict and banks generally only finance companies with substantial private equity and/or collateral. If you are in need of a loan, there are several sources you can go to for one. There are many firms like L3 Funding, for example, that can provide you with loans just like how banks do, except with them, you will be handling less paperwork and the amount might reach your hands sooner than expected. However, some banks may work with you if you
by James Holden | May 10, 2021 | Business News
The first step to managing your business finances effectively is to create a written business budget. This budget will not only outline your operational costs and income for the coming year but also include other expenses such as travel, insurance, taxes, and much more. If you need extra support for this, you can use resources such as https://onestreamsoftware.com/ to help with the management of these finances. The business budget will be the key to controlling and regulating spending so it can be used to leverage future working capital as well as provide stability to your business operations. In addition, a well-written business budget will also keep you focused on your financial responsibilities to your partners, investors, and other stakeholders. The budget should be flexible yet organized to cover all financial needs of the business. You may need the help of outsourced financial services to achieve what you have planned for. You can look at this for additional help if required so you are able to stay ahead of what needs to be accomplished. Managing your business’ finances is extremely complex, even for a seasoned business owner. If you are an owner that has never owned a business before, it may seem like a huge task at first. However, if you approach it with the right attitude then you can be successful in implementing your plan. Here are some steps to help you manage your business better. One of the most important aspects of business finances is cash flow. Cash flow is the ability of your business to pay its bills and meet its obligations. Cash is the fuel that drives a successful business and it is essential to have steady funding for daily operating expenses. There are a few different ways to increase cash flow, but one way that is
by James Holden | Jan 29, 2021 | Business News
Business World is a popular term used to describe the global landscape of business today. The term business world may also refer to the broader world of economics, finance and politics. Business refers to not just businesses but to national and international governments as well. The global business world is constantly changing; however, many of the old rules about what makes a good business are beginning to change as newer business models emerge. This is creating an extremely exciting time for business owners who have a stake in the global economy. In many ways, the phrase BizWiz refers to what the phrase “vision and will” describes. Vision refers to seeing the end result and will describe a plan for getting there. A vision also describes the way in which people feel about an issue and how they are using traditional methods to solve the problem. In the business world, a phrase like BizWiz can be used to describe a new way of doing things or a new way of thinking about how to implement an idea. There are other phrases that have nothing to do with business jargon to describe the global environment. The phrase eco-friendly describes a set of ideals and actions that are designed to reduce, reuse, and recycle everything possible. It can overuse the word green though. The phrase eco-friendly can also be overused though. It describes the actions needed to create a sustainable ecosystem so that the ecosystem can continue to support human activities and industries without depleting the environment. The phrase smart, sexy, and powerful can be used to describe a variety of business jargon over time. It first came into popular use in the 1960s and it describes the combination of scientific terms that describes the scientific method. That method is often used as
by James Holden | Jan 12, 2021 | Business News
One of the greatest changes brought about by what is often referred to as disruptive technology is that of blowing the playing field wide open and increasing much-needed competition. Because of tech disruption, someone whose relationship with the food and restaurant industry stopped with their harbouring of a passion for cooking can now turn that passion into a business that rivals the biggest names in the food services market. Here are the five tech disruptions that make it possible: Renewable energy Renewable energy only really becomes obvious as one of the disruptive technologies benefitting the food and restaurants industry if you actually think about it. Ordinarily one wouldn’t consider that something like being able to tap into an unlimited source of power can effectively allow you to churn out something like fresh and hot pizzas very quickly, in a cost effective manner. You’d otherwise have a mounting energy bill, for example. So it becomes about the product, unhindered by the would-be overheads and other such barriers to entry. The ride-sharing economy The various examples ride-sharing services probably very easily roll off the tongue, but their importance as a disruptive technology that contributes to the improvement of the food and restaurant industry is perhaps obvious. It’s worth mentioning though, because now it means more customers can order food online, from a variety of different restaurants, to accept delivery in an ever widening radius of locations. Restaurants and food outlets themselves don’t have to worry about catering to in-house delivery fleets, staff, etc. Both the restaurants or food outlets and the consumer benefit, with the potential for a third-party to benefit as well, by taking up an on-demand job as a delivery person. Social media Social media as a disruptive technology has long since evolved to form somewhat of a mainstream technology
by James Holden | Dec 31, 2020 | Business News
If you are sitting at your boring desk, daydreaming of starting your own business, then this is exactly the right article for you. You probably already know that starting a business can be such a daunting process needing tons of effort. But the big question always lingers in front of you: How hard can it really be? Actually, starting your own business can be surprisingly easy if you just put your mind to it and put aside all your worries. The secret lies in starting your own business based on a very solid plan. A business plan is what acts as your road map to success. It tells you how much money you need to get started and the target market you should choose. This guide also tells you how much time and effort you need to put in to make things work. A business plan helps you prioritize tasks and properly map out your steps towards success. Once you have your business idea, the next step is to find a great business idea or even better, a great product. Once you have both, the next step is to start researching your options. If you are starting from scratch, then this research will save you a lot of money and time. Start looking at what’s available on the internet. Most aspiring business owners spend the first two years completely immersed in their business idea. Some even spend up to four years doing so. While this path does help you learn a lot and get a lot of experience working under others and as independent workers, it does not guarantee success. Those who are successful usually got help from friends and family and got help in various ways such as grants, scholarships and tax incentives. There are also several federal grants
by James Holden | Jul 8, 2020 | Business News, Social Media
The business playing field is rarely in favor of small businesses. For instance, while small businesses employ around 47.5 percent of the private workforce in the United States (that’s almost 59 million people), not a lot of these businesses go on to be successful. For every 100 small businesses opened, only 80 will survive the first year, 40 will survive until their fifth year, and only 13 will live to see their 10th anniversary. As a business owner, you definitely want to be one of those 13 that survive operations for as long as possible. One of the best ways to achieve that in the current setup is to go digital, starting with investing in a website. It would then be of importance to have this website gain some traction and traffic through optimizing search engine results by using professional SEO agencies similar to Victorious and others that can be of service to you. Here’s why an SEO-friendly website is necessary for small businesses to operate successfully. Stay Visible for Consumers Consumer behavior has changed over the last few years, and now that the internet has made information more accessible, more people are using it to find businesses that satisfy their needs and preferences. For instance, 87 percent of shoppers begin their shopping process by searching for products online before going to their target online or physical stores. And around 84 percent of shoppers believe online reviews as much as they believe personal recommendations. To take advantage of this consumer behavior, your business’s website must be visible to consumers looking for your business and products, as well as provide enough information to fulfill their research needs. Otherwise, two things could happen: either you don’t convince them to do business with you, or they don’t find your business in the first place. By implementing SEO on your website, you stay visible for
