Month: August 2021

9 Ways To Lower Your Company Operating Costs

SMBs don’t always have big budgets, but that doesn’t mean they have to struggle. There are so many ways to reduce your operating costs, supporting your company as it grows. Here are a few ways that you can reduce your expenses over time.

1 . Boost Energy Efficiency

Boosting your energy efficiency is an excellent way to lower your company’s operating costs. When you run a more energy-efficient company you’ll protect the planet and improve your business reputation. There are plenty of ways that you can boost your energy efficiency within your company such as:

  • Upgrade the insulation in your roofing and walls.
  • Use a renewable energy provider.
  • Ensure that your appliances carry an energy star rating.
  • Use energy-efficient bulbs for your lighting.
  • Implement policies to switch off devices when not in use.

2. Buy Second Hand Equipment

Purchasing second-hand equipment can save you plenty. You might consider using second-hand furniture, office decor items, or second-hand computers. MacBook Pros are expensive to buy new, yet there are plenty of second-hand outlets where you can snap up a good deal. Another way you can save on your hardware costs is by making repairs yourself. If your computer starts running slowly, check out some simple troubleshooting guidelines, there could be a simple fix.

3. Negotiate With Suppliers

Negotiating with your suppliers can help you to make a few savings. If you’re unable to get a better deal you might want to shop around. There’s every chance you’ll find a supplier offering cheaper prices. When you’re searching for a supplier, try using a Supplier Information Management System. These systems allow you to search for suppliers, using criteria such as rating, price, location, and so on.

4. Automate Your Processes

Businesses can reduce operating costs by automating their processes. For instance, using chatbots on your site means you won’t need to hire as many customer service staff. There are plenty of other ways that you can save time and money with automation:

  • Use accounting software to automate your financial processes.
  • Use AI to streamline your recruitment procedures.
  • Email marketing is useful to run cost-effective campaigns.

5. Inexpensive Marketing Strategies

Marketing is essential, yet it doesn’t have to be expensive. If you’re looking for a way to save money, there are plenty of inexpensive marketing strategies that you can try:

  • Use social media to promote your brand and target the right users.
  • Work with micro-influencers for a low fee.
  • Write your own SEO-optimized content.
  • User-generated content is another great way to save.
  • Take advantage of free online marketing tools.
  • Listen to the leading marketing podcasts to upskill.

6. Use Outsourcing To Your Advantage

Businesses have many different outsourcing options, whether it’s managed IT services, accounting, content, or graphic design. Companies can lower expenses by outsourcing, as opposed to hiring full-time in-house staff. Outsourcing can help businesses to save money in several ways:

  • Companies won’t need to rent out as much space for new staff.
  • Businesses can limit their spending on new software and hardware.
  • Less spent on staff training, and benefit programs, etc.
  • Managed services and freelancers are often less expensive than hiring in-house staff.
  • Projects can be executed on a one-time basis, using a pay-as-you-go model.

 7. Improve Your Time Management

Without great time management, businesses will waste both time and money. Companies should consider using time management software, to maintain productivity levels. Apps like RescueTime and Toggl are both useful time management programs for businesses. These tools have various features to boost productivity levels, from scheduling tools to productivity charts, and website blocking.There are several other ways that businesses can improve time management including:

  • Get rid of unnecessary meetings.
  • Take advantage of project management tools.
  • Create a task hierarchy to stay organised.
  • Ask staff for feedback, (their viewpoints may be helpful to improve time management).

8. Reduce Travel Expenses 

Travel costs can be incredibly expensive, it’s worth limiting travel to those occasions that are essential. By embracing concepts like remote work and virtual meetings, businesses can reduce the need to travel. Looking to put on a business event? You can drastically cut the costs by hosting your event online. Over the last year or so the popularity of online events has soared. Naturally, it’s harder to engage your audience, so businesses need to get creative. Before you arrange an in-person meeting or event, consider if it’s necessary and what value it will bring.

9. Free Business Resources 

Lowering your costs is all about getting freebies, here are so many free business tools that can support your operations. For some great ideas to get you started, try these suggestions:

For Project Management: Click Up is an excellent free project management tool. Using this software you can choose from various task views, including mind maps, and Gantt charts. You can also take advantage of chat pages, document view, and embed view. It’s a fantastic free tool to improve your PM.

For SEO: Using the free version of SEM Rush you can perform 10 searches each day using the keyword and domain database. You’ll have access to the ‘Keyword Magic Tool’. The free version also lets you crawl 100 website pages, with the site auditing tool. To support your SEO needs, SEMRush is a wonderful tool.

For Accounting: Wave is a great accounting tool for small companies, freelancers, and sole proprietors. Using the Wave features it’s simple to keep your finances organized. It’s easy to connect Wave to various bank accounts, for the purposes of expense tracking. With useful tools like these you’ll boost productivity levels and improve your ROI.

The takeaway 

Small companies have plenty of options when it comes to lowering their operating costs. With ideas like these, you’ll be able to make some smart savings and raise your productivity levels. There are so many free tools that can support your operations, and outsourcing will allow you to keep your employee costs low. Don’t forget to use budgeting and forecasting methods to review your finances over time.

Join The Millions Of Families Waving Goodbye To Money Stress

Part of being healthy is having a good relationship with money. But many families struggle in this area. They’d love to enjoy their lives more, but they find themselves continually worrying about their finances, fearing that they will never have enough money to get what they want out of life. 

The worst part of all this is how money stress can actually adversely affect your health. If you are worried about money all the time, it takes a physical toll on your body and can actually make some people sick. 

Fortunately, there are many ways that you can say goodbye to money stress and improve your overall mental and physical health. Here’s what to do. 

Talk About It With Your Family

The first step is to get money stress issues out in the open. Keeping it all bottled up and trying to deal with it yourself isn’t an option when so many people are responsible for your budget. 

Instead, bring it up at dinner time with everyone and talk about the major issues that your family faces. Discuss how it is causing you stress and the changes that the family needs to make to get into a better financial position. 

Give Up On Consumerism

The next step is to make a conscious effort to give up on consumerism. So many people are locked into a cycle of earning and spending money, but it isn’t improving their lives. In fact, acquiring more possessions is just creating stress and making their lives more difficult to enjoy. Families with children can very easily fall into this trap. 

Try instead to rethink what your family needs and how you spend your money. Do you have to spend a fortune every time you go out? Do you need new gadgets every month? Or would a simpler life serve you better?

Make More Sustainable Choices

Making your family more sustainable can dramatically lower your expenses and move you towards financial freedom faster. For instance, getting rid of the car and finding alternative means of transportation can save you a tremendous sum of money, especially if you have more than one vehicle on the drive. 

You can also lower your utility bills by joining renewable energy schemes – a concept that www.choosesolar.com explains. The basic idea is to buy the cheapest available solar energy without the need to install any solar panels on your home yourself. 

You can also change the food that you eat. Beans and grains tend to be much cheaper (and healthier) than meat and takeout. 

Clear Up Your Debt

Unsplash – CC0 License

According to usatoday.com, millions of families experience financial stress because they are carrying a lot of debt. Sometimes, it is the result of overspending, but many times it is just the result of people believing that they are living a normal life. 

Taking steps to get out of debt can improve both your physical and financial health. Once you eliminate monthly interest payments, you soon discover that you have far more money than you imagined. 

Why Haven’t You Considered Sports Memorabilia As An Investment?

Some people invest in stocks, others in luxury real estate. At the minute, there is a significant push for all types of cryptocurrency that may or may not make you a millionaire. But, while all of these investment ideas are sound, they can cause plenty of stress, and it only takes one dip in the market to go from hero to zero, and no one wants that. 

If you’re looking for unique ways to invest, especially if you’re looking for something on the side, sports memorabilia is a fantastic option. You may remember sports cards from your youth, and it’s likely your dad or grandfather had boxes upon boxes of cards with players you’d never even heard of.

There is more to sports memorabilia collecting than first appears, and over the past 12 months, there has been a considerable boom in the industry. So how does someone get involved in sports memorabilia? And why would they want to?  

Why get involved in sports memorabilia? 

Sports Will Always Be Popular 

There are no two ways about it; sports will always have a place in society. Whether it’s football, baseball, soccer, basketball, hockey, or anything else you can think of, stadiums are packed to the brim every time a game is on. 

And, unlike crypto or fashionable stocks, this means you always have something to rely on. There will always be someone interested in something you have if you start collecting. 

You are also not restricted to just one sport. If you love watching anything on TV or seeing it live in the stadium, you’ll have a wealth of options while you figure out what investments are best for you. 

It Will Give You A Bigger Appreciation of the Sport 

If you didn’t grow up playing a sport or visiting Lambeau Field, Green Bay Packers at every opportunity, it can be a challenge to get the nuances of games that those around have grown up in the thick of. Sports memorabilia can change all of this, and you’ll soon find that you know more about the sport than you ever thought you could. 

Collecting sports memorabilia means you’ve got to sit down and watch the games. You’ve got to speak about players, teams, and even coaches with other collectors. You might not know anything right now, but you’ll soon realize that it’s not all about ratios and stats. 

Soon, you’ll recognize great players for what they are. As much as the likes of Lebron or Messi catch the headlines, other players are just as good as what they do, and collecting will help you realize that. 

It’s More Than Just a Hobby 

Memorabilia collecting starts as a hobby. You pick up a set of cards here, you might be gifted a signed ball or photograph there. For many, this is enough. But, others might get a taste for something more. 

For these people, collecting is so much more than a hobby. It’s more than displaying your prized possessions on your bookcase or mantlepiece. Sports memorabilia collecting is a way of life. While it won’t consume your every waking minute (and nothing should), it will inspire you to connect with others and learn more about different sports. 

What’s more, you’ll get a glimpse into the history that can contextualize the present, and this can help you make decisions about what you collect when you sell, and how much you sell for. 

More Collectors Get Involved Every Day 

From sports cards and into worn jerseys or balls from classic games, there are enough memorabilia to go around, and every day, you will find more and more people involved in the industry. 

While many won’t stick around forever, it will still put you in a comfortable position. Although you won’t have much experience, neither with the plethora of other budding collectors. You can meet these on forums, Facebook, Twitter, and other platforms, and you can all learn together. 

This might mean there is some competition over specific items, especially those that feel you need to have, but this is all part of collecting, anyway

It’s More Fun Than Buying Stocks 

Stocks are undoubtedly a double-edged sword. One day, you’re at the top of the world, and the next, you’re at the bottom of the canal. It can cause more stress than it’s worth, especially if an investment doesn’t pan out the way you hoped. 

Sports memorabilia takes some of the pressure off your investments. While there’s still a chance for a loss if you don’t act at the right time, you’ll have fun learning about different players or the significance of specific gear. If you’re looking for a (mostly) hassle-free option, memorabilia is the way to go. 

What do you need to know about collecting? 

Do Your Research 

Like any investment, research is key. If you’re already experienced with certain sports, you have a head start compared to other novice collectors, but this doesn’t mean you’re blessed with all the knowledge you require. 

Researching current markets and prices will give you an idea of what you can purchase, but more importantly what you want to purchase. You may not know where to begin (although sports cards are always a good place), so look at potential options. 

You can also consider what sports you want to specialize in. Some collectors opt for versatility to appeal to a broad market, whereas others prefer to stick to a niche that allows them to know everything they could ever learn. 

Keep Up With the Market 

It sounds obvious, but keeping up with the market is an essential step if you want to succeed as a collector. This can be tricky depending on where you are in the world. While the majority of collectors are located in the US, especially for traditionally American Sports like football and baseball, there are collectors in other markets.

You don’t want to miss out on a fantastic deal on eBay or the many other trading sites, so this could mean sitting up until the small hours to catch a new listing. 

It’s also important to identify trends in the markets, which you’ll only get from keeping up with them. This can put you at an advantage early on, especially when other collectors are still finding their footing. 

Balance Current Value Against Potential Value 

Every collector dreams of finding the big-ticket item that will change their life. There will always be something, a White Whale of sorts, that you have always wanted but can never find. 

When the time comes, it’s tempting to purchase it as soon as possible, but this is not always the best approach. Like purchasing stocks or property, you need to balance the current value against the potential value. 

While some items will increase, others will depreciate or stagnate. Depending on what you want from your investments, this could affect your overall success as a collector. 

Stick to Your Budget 

Never bet or invest more than you can afford is just as true in sports memorabilia as it is anywhere else. Thankfully, early investments will not put too much of a strain on your finances, so you can generally invest and trade without any problems. 

However, the more you collect and the bigger the items, the more money you’ll need to spend. Outlining a budget when you get started will teach you discipline, even if the budget is low right now. As your collection grows, you can come back to your original budget and rethink everything. If you’ve had a good year, it is reasonable to increase your budget. If you’ve not had such a good year, perhaps it is best to reduce the budget. 

This will prevent severe financial problems that can stop your investments dead in their tracks. While many get into collecting to make money, they also want to have fun, meet people, and learn. This should be your primary concern rather than anything else. So, be sensible with your bidding.

Don’t Get Taken For a Ride

As much as the collector community is supportive and welcoming of new members, there will always be a few people who want to take advantage or generally be unkind to you. Of course, you’re better off without these, but they can sometimes be unavoidable. 

If you want to grow your collection and increase your standing, you need to find accredited dealers that can show proof of authenticity for anything they sell you. You may get burned a few times when you start your collection, but this is all part of the process, and hopefully, you won’t have parted with too much money. 

The more you learn, the more you’ll be able to recognize a legitimate seller from a scam. When you think you’re being taken for a ride, be cautious, and be sure to report them to the relevant authorities. 

Collectors’ Dream

Collecting sports memorabilia might not have been something you ever considered. But, it’s an interesting, unique, and even exciting way to make some investments that you feel a connection to. If you spent your youth watching the Bulls tear up the court, or remember how much R9 made you fall in love with what soccer could be, this approach will transform the way you look at investing and sports in general. 

Luxury Real Estate, A Great Investment For 2021

Real estate is one of the most profitable financial investments. The stone generates a significant profit as well within the framework of a rental investment as for a resale.

Luxury real estate in particular represents a particularly profitable financial investment in this unprecedented period of health crisis. Luxury real estate has become a profitable investment during the health crisis. Many people are looking at different places to buy property; you may want to consider Premiere Estate Properties, for example.

The real estate developer specializes in the ultra-luxury real estate sector. They offer exceptional properties for investors and vacationers. You can buy the best estate properties and be sure that you’re making an excellent choice.

Why is now a good time to invest?

Many are looking for a total change of scenery. 2020 saw us living from home day to day, without leaving our home for much more than food (or work). A spacious living area, offering superior comfort are found within many luxury villas. They can be wonderfully integrated into unspoiled natural settings. These are attracting more and more travelers. These exceptional residences offer large living spaces perfectly equipped to guarantee perfect comfort. They also offer optimal well-being for the occupants. A stay in these luxurious accommodations makes you completely forget the long months of isolation in the modest comforts of home. Thus, luxury now appeals to all categories of people. The modern buyer is now more than ever, concerned about their well-being. They appreciate the amenities, functional spaces and pleasures. An ideal and safe accommodation solution for a successful stay. In addition to the basic amenities, the ultra luxe accommodations are equipped with specific amenities. These ensure that all residents are not bored for a single second. There are now sumptuous palaces, luxury apartments, luxury chalets, and leisurely spaces. Including places for relaxation and well-being (hammam, spa, sauna, swimming pool, gym, massage cabin, etc.). These are all properties that are high up on the investment ladder. Some of the benefits are: 

Build up valuable heritage

Like all luxury goods, luxury accommodation loses very little value over time. Well maintained properties such as a luxury villa, or an upscale apartment, are worth a lot. An architect’s house and all types of lavish accommodation can even increase in value over the years. Investing in this type of real estate allows, then, to build up a valuable heritage.  An investment in luxury real estate for resale also allows the owner to pocket a high capital gain. 

Make maximum profit

In recent years, the real estate market has experienced an unprecedented boom. Rental investment is showing increasing profitability. The trend resulting from the health crisis is strengthening the development of the luxury real estate sector. Luxury real estate which enjoys a privileged geographical location is particularly sought after. Making a rental investment in this type of property turns out to be very profitable. 

It is essential to find the best luxury real estate to make the maximum profit on an investment. The advice and services of a professional specializing in the sector are essential to find exceptional real estate. 

Recent Graduates: Here Are Five Ways To Invest Your Money

Investment is a fantastic lesson to learn early on, and it will serve you well for years to come. Among the best investments in your future is getting ahead financially while you’re still young. This blog will outline five ways recent graduates can invest their money wisely and set themselves up for success!

Pay Off Your Student Loans

The first thing you should do with your hard-earned cash is pay off any outstanding student loans. Early payment will reduce the interest accumulation. In addition, the sooner you clear your student debt, the earlier you can acquire credit for other profitable investments. 

In the few months after graduation, it is a guarantee that MLMs will approach you with promises of swift returns and profits. So the question you should answer is, “is MLM a pyramid scheme?” Unfortunately, they often are, so stay away from these forms of network marketing.

Start a Business

Theoretically, the riskiest option is investing in your dreams and time. If it doesn’t work out, then all of that money goes to waste. But if it does work out, imagine how much more disposable income you’ll have! For a business to be successful, don’t start something on a whim just for fun- make sure you are offering a solution to needs in society before putting down any capital. 

Diversify In the Stock Market

There are many types of stocks to invest in, and here are a few:

  • Domestic: Investing solely within your own country’s borders is often the safest way, but they also might not have much growth potential.
  • Emerging markets: Frequently, emerging market countries do better than their developed counterparts. However, these economies tend to fluctuate more frequently, so early investments come at higher risk levels.
  • International or global stocks (also referred to as ADRs): They are a good choice for people who want to invest in different countries or regions but still benefit from diversification.

–Sector: If you’re looking to go with something more specific, investing in one industry and type of company can give you higher rewards than if you spread your investments too much.

A Down payment For an Investment Property

Get your foot in the door of homeownership and start building equity with a deposit for an investment property. The down payment amount will depend on what type of property you are looking for, but it tends to be easier as rates have been very favorable recently.

For example, have you considered turning one of those rooms in the house into a studio space for an Airbnb? You can turn that to reality with an investment property. That way, every time someone rents it out, you make some money. 

Invest In Yourself

Your time is your most valuable resource. So invest in yourself and do what you love! If you are starting, invest in your skills. The key is to take actionable steps towards your goal by investing time, money and energy into it.

Conclusion

Investing is a good idea for any new graduate. Investing gives you more time to learn about investing and make mistakes without being penalized too severely by them – which is one of the great things about starting young! 

5 Things To Think About Before Investing

Shares, also known as equities, are small pieces of a company. When you own a business, you are entitled to a portion of the profits. When it comes to shares, you have several options. For example, you could be the sole owner or a joint owner with other people  Because you are the sole owner of the share, you have the right to vote on some business decisions.

Spread your risk

Share prices can fluctuate depending on a variety of factors, including the performance of the company and the state of the economy. When share prices fall, so does the value of your investment. Buying stock in only one company can be risky. If the company suffers a setback, you may end up losing money. When you invest money in a few different companies, you spread your risk.

Stay away from the smaller companies

When you first start out, you will want to minimize risk as much as possible. As a new investor, you can reduce risk by avoiding smaller companies, also known as penny stocks. It can be more difficult to find buyers for these at times, which means you may end up losing money. Before investing in small businesses, it is critical to evaluate the risks involved. You’ll need accurate forecasts that show how the company is expected to go. Compare them, for example, to the Tesla shares price.

Choose companies carefully

To select the best stocks to buy, you must first identify the best companies trading at the best prices. It would be advantageous if you looked for companies with strong fundamentals and the potential for long-term profits. Choose companies with a competitive advantage, low debt, and a high return on investment. Before deciding which companies to invest in, it is critical to conduct extensive research.

Look at a broad range of industries

As mentioned in passing above, diversity is the key to building a well-balanced portfolio; when purchasing stocks, consider investing in a variety of industries. Success will come to different industries and markets at different times. Diversification is another excellent risk-mitigation strategy.

Hire an investment manager

Working with an investment manager can be beneficial once you have begun to build your portfolio. These experts work on behalf of a client to make investments that are in line with their goals. Day-to-day operations are handled by investment managers, who are in charge of everything from purchasing and selling to asset allocation tracking, performance analysis, and transaction settlement. From the best financial advice to the most profitable investments, they will make sure that you build and get the most out of your investment portfolio.

With the right advice and assistance, you can build a solid investment portfolio that will help you increase profits while decreasing risk. Robo advisors, investment apps, and real estate are some other investment options for beginners.

What are youtube tops for getting the very best out of your investments? Let us know in the comments section below.