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3/12/2016

Burning 10 Challenges are being faced by a new Entrepreneur

So you want to be an entrepreneur and leave the 9-5 jive forever? I don’t blame you. I’ve been an employee and I’ve been an entrepreneur, and being an entrepreneur is way better. When I was an employee I was making 30k a year in salary. That 30k per year salary translated to about $17,000 per year money in my pocket. That’s a pathetic amount of money, but I actually lived on that money. I had my own apartment, I had insurance to pay, I had an auto loan to pay and I had bills on top of that.

Burning 10 Challenges are being faced by a new Entrepreneur 



I didn’t know that as an entrepreneur, even as a not very good one, you can make way more money than you would as an employee. As an entrepreneur I’ve made more money in single month than I made in full years as an employee.

Can you do the same?


Of course you can. You will face challenges as an entrepreneur, but those challenges pale in comparison to the challenge of selling your soul for a paycheck.

And there are easy ways to conquer those challenges…..

Below are the top 10 challenges you will face as a new entrepreneur – and easy ways to conquer those challenges.

#1 Picking the RIGHT business

Most small businesses fail because they aren’t real businesses in the first place. Pick the right business and your work as an entrepreneur will get a whole lot easier. If your business doesn’t help people, doesn’t provide a solution, or doesn’t give people something they want then your business is shit and it will fail. To do great business you should have a great product or service that you believe in. If you believe in it, you can get others to believe in it. When you don’t believe in something but you tell other people they should buy it you are lying and deceiving.

What you see is what you get should be the motto for your company.

Remember one very important thing, your customers aren’t buying a product, they are buying you. So there is one very important thing you should always do – deliver what you have promised. If you can’t deliver you should always offer a money-back guarantee. You never want people to feel cheated. You never want people to feel buyers remorse, you never want people to tell the world that your company is a scumbag company. Give them what they paid for. If you can’t give them what they paid for give them their money back.

The only way small businesses can have success is by delivering quality. If you can’t deliver quality you can’t make a living. I know it, you know it and your prospective customers know it too.

#2 Financing your business

How do you start a business when you don’t have any money? Good question, and there are two solutions:

Borrow money – I HATE this idea for new entrepreneurs. Unless you’re experienced, know what you’re doing and you’re certain your business can succeed (and grow) you should not borrow a single dime.

Bootstrap – Use only a small amount of money and find a creative way to get your business going.

I’ve started only two successful businesses and I started both for less than $100 and I turned them both into top earners. I’ve never borrowed a dime to start a business.

Personally, I don’t like the idea of starting a brick and mortar business, I like internet business. The growth potential is massive and the costs can be as low as $15-$20 to get started.

#3 Finding customers

Finding customers is only a challenge if you don’t have a good product or service. If you have a good product or service then people will come to you, no need to spend hundreds or thousands on advertising. At least not right away.

There is a certain type of person who will be your customer. Not everybody in the world is buying what you’re selling, so your job is to simply find the people who are in need of your service.

Only try and sell to people who have expressed interest or desire in your product. Never waste your time trying to convince somebody to buy something they don’t already have an interest in.

Never, ever waste time on people who have no want or need for your product. That’s called being “pushy”. Nearly everybody hates pushy salesmen. These type of boiler room salesman do a “hard sell” approach.

Pushy salesman = buyers remorse = refund requests = fewer profits = bad reputation = failed business.

Take a “soft sell” approach. Simply find people who are interested, explain the product and benefits enthusiastically and let your customers decide what they want.

I will personally go out of my way to NOT deal with a pushy salesman, even if I’m interested in what they’re selling. I’ll buy from a nice, calm guy all day everyday before I give a dime to a pushy salesman.

There’s no need to be pushy, if you have a good product you can simply calmly explain your product’s benefits and let your customer decide and it’s win-win for everybody involved.

#4 When to quit your day job?


The right time to quit your day job is when you have a foolproof business opportunity or you have enough money in the bank that you can work on your business and not be evicted from your home.

You’ve got to have money to survive, so quit your job when you a) have a little money to work with and have a real business plan or b) are making an income from your entrepreneurial gig.

When I quit my job as the world’s worst insurance agent I had enough money to live for one month.

But…

I had two signed real estate contracts that I knew were worth some dough. So even though I quit with barely any money in the bank, I was certain I was going to make some money soon.

Those two contracts turned into $4,000 dollars in my pocket one month later.

4k sounds like nothing, but I was making peanuts as a pretend insurance salesman, that 4k saved my life and showed me what was possible. That 4k was the most important payday of my life. I was elated and I’ll never forget that feeling.

That 4k proved to me that I was right in leaving the 9-5 jive. That 4k was just the start of a 100k year.

#5 Dealing with the stress of not having a steady paycheck

There is no other way to put it, it’s extremely stressful when you don’t know when or if you’ll be paid again.

My first business, real estate investing, I didn’t make a steady income, I’d score a big payday then have to wait and wait for another one. I made a few bucks extra per month (about $1000-$1500) but not enough to live on so I needed to constantly do new deals.

I was good at my work so I always had new deals in the pipeline, but it seemed like it was always down to the wire when a new deal finally came through and I had a check with my name on it.

One day it seemed like I was almost penniless, the next day I’d have a check for 10 grand. Living like that can be extremely stressful, so you’ve got to have the mental fortitude to power on, keep working, never give up and never go back to a “safe and secure” 9-5 job.

In real estate investing sometimes deals would fall through and I’d make nothing for my hard work, other times deals would fall in my lap and I’d score a huge payday.

Personally, I recommend a gig where you get paid more frequently. My Bold and Determined empire pays me every single day, day in and day out. Waiting a month or two between paychecks doesn’t happen to me anymore and it’s way less stressful. For this reason I really recommend opening a web-based business.

#6 Managing your money, legal protection, taxes

Managing your money can be a real burden if you don’t know what you’re doing and if you don’t know when your next paycheck is coming through.

I manage my money in a very simple way – I rarely buy anything. I pay my bills, I buy my food, I pay my gym dues and the rest is for business or for the bank account.

I don’t live on a budget, never have, I just don’t spend very much money unless I have to. When you’re building your business I recommend you live like a Spartan and don’t haphazardly spend your money. You may very well have some lean times ahead of you and you’ll want some money in the bank to help get you through.

On the other hand, nothing lights a fire like having no money and needing money. When I started Bold and Determined I had enough money in the bank to live for a year, so maybe it’s no coincidence that it took me one year to turn Bold and Determined into a profitable business.

Taxes

Taxes are a real pain. When you have a 9-5 job they steal, I mean take, taxes from your paycheck before you even see your paycheck. When you’re an entrepreneur your money comes to you first. So there are two very important things that you need to do:

Write off everything you can for your business. This will save you a ton of money in taxes.

Pay your taxes. It’s one thing to receive a de-taxed paycheck, it’s another thing to get out your checkbook and write a check to Uncle Sam. But you’ve got to do it, just make sure you’ve written off everything you can and taken every deduction you can.

You’ll keep a lot more of your money by preparing your own taxes rather than letting the tax-man loot you. That’s the easiest, #1 step to making more money. The guy that makes 30k as an entrepreneur takes home a lot more money than the guy who makes 30k as an employee.

The tax-man rips you off, he takes every cent he can. When you’re self-employed you’re in control of your taxes and you use write-offs to keep more of your hard-earned money.

Legal protection

You’ll need to set up your business as a business, not a hobby and not as a sole proprietorship.

When is the right time to open a business structure?

I wouldn’t open a business until a) you are making money or b) are absolutely certain of your business.

For Indian small business owners the best structure is a VAT taxed as an Service TAX

A VAT is a “pass through” tax entity. That means that the VAT itself does not pay tax, you pay tax on the profits you receive. The trick to reducing your tax liability is two-fold: start an VAT but tax it as an S-Corp. Pay yourself a small but reasonable monthly salary and once per quarter you can take out a chunk of the profits as a distribution. You will pay standard tax on your monthly salary but the quarterly S-Corp distribution is not looked at as employee wages so you will not have to pay social security or medicare tax on this distribution amount (more tax info).

#7 Dealing with negative people, loneliness and self doubt

The Germans call it Schadenfreude. It means the pleasure people take in seeing others fail. If you have people like this in your life, as most of us do, there is only one solution: cut these energy vampires out of your life.

They’re a mental burden on you because they drain you of energy. Energy that you need to build and conquer. Give these people the boot and do it ASAP. If they aren’t on-board with you, then toss them overboard.

You often hear of successful people how much they’ve changed and how they don’t spend time with their old friends anymore. Successful people don’t have the time or the will to hang out with losers, so they cut them off.

With money and success comes choice, that means you get to pick and choose who you spend your time with. And you don’t have to spend time with go-nowhere nudniks.

You also have the choice to not be lonely. The misconception is that if you don’t go to a 9-5 job everyday and hang out with office drones then you will be lonely. Not true. You’ll only be as lonely as you choose to be.

What about self doubt?

Self doubt is simply a fear of success. It’s hard as hell to be superior and it’s easy to be average and it’s easy to give up and go work a 9-5 job.

All of us feel self doubt at one point or another. An easy way to conquer self doubt is to take a look around you and see all the people who have given up and ask yourself if that’s how you want live.

If that’s not how you want to see yourself then….

DON’T GIVE UP. EVER.

#8 Finding trustworthy business partners, building a reputation

It should go without saying, but I’ll say it anyway. Never go into business with scumbags. Going into business with a scumbag will give you a bad reputation. Your reputation will be linked to the scumbag, even if you’re a man of your word.

It can be hard to tell at first sight who is a scumbag and who isn’t, but you will always find out eventually and when you do find out you must instantly dissolve the relationship with the scumbag.

I had a business relationship with a scumbag, years ago. He scammed people for hundreds of thousands of dollars. People lost their homes. It wasn’t a nickel and dime hustle, the scumbag stole homes from people. I had already severed ties with the scumbag long before this issue so I came out of the situation clean, legally and morally. But my name was still linked to the scumbag from prior deals.

Even though this did not hurt my own business, it left a bad taste in my mouth and taught me a very valuable lesson: Cut scumbags out of your life forever. No 3 strike policy. One strike, then kick them to the curb.

It’s not a moral issue, it’s not an ethical issue, it’s an issue of having a clean soul vs having a dirty soul.

Scammers and scumbags never get away with anything because, even if they are legally in the clear, they still have dirty black souls that will haunt them.

If you help people you help yourself. If you hurt people you hurt yourself. You don’t have to be a tooty-fruity save-the-world liberal. Just be a man and do good business.

#9 Dealing with competition

John D. Rockefeller famously said “Competition is a sin” and I’d have to agree. Why bother competing when you can be an innovator and start something new?

3 years ago there was nothing like Bold and Determined and that’s still true today. Even though I have dozens of copycats (maybe hundreds) nobody can compare.

Hundreds of heavy metal bands have copied Metallica’s unique style and none of the copycats have had the same success as Metallica.

Copying is the path to mediocrity. Pioneering is the path to success.

Ask yourself “what is missing from the market?“. Answer that question and you’re in business as an industry leader.

#10 Hiring employees

As a small business, typically the last thing you’ll do is hire employees. You’ll want to hire employees when your workload is too much to handle yourself and you have the revenue to pay your employee(s).

You’ll hear me mock employees time and time again. That’s because most companies treat their employees like dumb cattle and the employees always complain “I hate my job“. Then the employees go back to the same job day in and day out, like cattle at a feed lot.

But there is a big difference between working for a faceless corporation and working for a small business. As a business owner you will have the opportunity to create a great company that people want to work for.

Your job as an employer is threefold: teacher, motivator, check writer.

You aren’t a babysitter or a personal therapist and you should never act like one but there is one easy way you get your employees to be happy, feel like part of the team, and come up with new ideas….

You give them a voice. You listen to them. They are helping to build your company, they want to be a part of something, and they will often have ideas that you would never think of.

Who should you hire?

As a small business you would be wise to hire freelancers, contractors and virtual assistants rather than hiring traditional employees. Let them take care of their own taxes (they’ll make more money) and it’s less paperwork hassle for you.

Your employees will never be happy with their paychecks, no employee in the history of the world makes enough money, but that isn’t your concern. Your concern is to pay your employees when you say you will.

You’ve heard of employees not being paid before, companies paying late, companies not paying at all and this behavior is pathetic. No man should ever owe another man money, and that includes you as an employer owing your employee money. Even if it means you starve, your employees should always be paid on time.

This one's tricky if you look at the failing business as a problem or as a reflection on the entrepreneur's ability and strengths. In this case, their weaknesses were bigger than their strengths and the business failed. But, just like a kid has to fall a couple of times when learning to ride a bike, so do entrepreneurs fail as they learn how to be successful. Remember, it's the SPARK that the entrepreneur has that is the REAL source of profitability. It's just that there is often a learning curve as the entrepreneur learns to compensate for his/her weaknesses by delegating, outsourcing, maturing, and learning new skills. The Spark usually wins in the end. Note: Just like you can't really tell much to an adolescent because "they know it all," you often can't tell much to an entrepreneur because they DO know it all! Don't try to parent the entrepreneur; you'll lose. Just love them and be there when they fail. That helps them learn faster. Then your business grows and you get rich. And everybody’s happy.

N.B: The author Main Uddin is an e-entrepreneur cum regular columnist for various media houses as well as tech blogger. 

20 New Business Ideas for common Indians but Successful in Western World

Ready to take on the world of entrepreneurship? Now's the time to do it. Thanks to social media, crowdfunding and alternative lending options, and the constant evolution of technology, this year is a great time to start a business. Not sure where to begin? There's good news — with new trends popping up constantly, there are plenty of ways for aspiring entrepreneurs to capitalize on them. According to the Indian School of Business (ISB), Wadhwani Centre for Entrepreneurship Development (WCED) where PGP projects offer comprehensive guidance to potential entrepreneurs among the students – from idea evaluation to enterprise creation suggests like so.
  • Helps in development and review of the business plan
  • Provides initial financial support to set up and operate the business
  • Provides mentoring and business resources from industry experts
  • Provides access to networking opportunities with other new business owners

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Apps, mobile-friendly websites and e-commerce have become must-haves for every business. Often, however, they don't work properly. One reason is that businesses don't always test their applications or software carefully enough, meaning testing services are now in hot demand.

For example, one company, SOASTA, offers cloud testing services for clients. And there's room in this market for growth — a service that specializes in niche testing, for instance, would have an edge over broader testing services.

Instagram consulting


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In its annual trends report, The Future 100 — which highlights the big and small trends to watch this coming year — JWT Intelligence reported that more and more companies are using Instagram as a marketing tool. According to the report, the social media app reached 400 million users in 2015, and the number of companies with more than 100 employees using Instagram for marketing is expected to reach 48.8 percent in 2016.

Despite Instagram's growing popularity, not all brands know what they're doing on the app. If you have a background in social media and marketing and a passion for photography and Instagram, starting a consulting business that focuses on the popular photo app can be a great way to make money while helping other businesses improve their content and thrive. 

Women's health platform


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Women-focused platforms and businesses for women, by women were huge in 2015, and they will only continue to grow this year. According to The Future 100, this new wave of platforms is expanding women's media and reflecting a new way of thinking about femininity, empowerment and gender identities. The report also noted that another big trend is taking the taboo out of women's health.

Aspiring women entrepreneurs looking to make a difference are now in a better position than ever to launch businesses that help other women. An online store that focuses on women's health needs, or another platform that connects women with important resources and products, could be a great framework for a successful and meaningful business this year. 

Box subscription services


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Box subscription services are popping up everywhere in the food, beauty and even pet product sectors, ready to deliver goods right to your door each month. One of the perks that keeps customers coming back for more is the idea that these subscription boxes are carefully curated just for them based on their likes and interests, and each month, the boxes' contents are a surprise.

Find a unique product category that's still untapped by the box subscription industry, or find a way to put a new spin on an existing service, and you could have a lucrative business on your hands. Keep it as inexpensive as possible — according to LearnVest, offering cheaper products will help you stand out from the competition.


Health clubs for millennials


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According to The Future 100, millennials are drinking alcohol less than ever and focusing more on health and fitness. This means that health and fitness services are being rebranded to become trendier and more sociable.

Opening a health club or fitness center targeted specifically to millennials could be a great way to capitalize on the trend, especially if you focus on creating a strong, fun and engaging social media presence to really connect with young members and potential customers.

Kid-friendly apps


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Kids are your future customers, so gaining their loyalty now isn't a bad idea.

JWT Intelligence also cited the connectivity of kids as a big trend for 2015. According to Common Sense Media, three-quarters of kids have access to a mobile device. This spells a big business opportunity for anyone who can create products or design apps just for kids. And, if they also happen to be educational or promote good health, you'll win their parents over, too. You can start small by designing a few kid-friendly apps and see where your business goes from there.

Recycling pickup


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Most homeowners have pickup bins for standard recyclables like paper, glass and plastic, but they often don't make the effort to properly recycle electronics and batteries, which can be extremely harmful to the environment when left in landfills.

Offer to pick up all the e-waste that's been collecting dust in people's garages — old televisions, broken laptops and defunct cellphones, for example — and bring them to your local electronics-recycling facility for a fee. You can charge per item, by weight, or a flat fee plus travel to and from the location.

Software training


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If you're proficient in a highly specialized software, you can get paid to pass your knowledge on to amateurs and professionals looking to expand their skill sets.

Technical manuals are available for programs like QuickBooks and Final Cut Pro, but these are often expensive and difficult for the average user to get through. Schedule small group workshops or private sessions, and charge by the hour for a full tutorial of the program. The best part about this gig is that it can be done part time.

Health care consulting


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The combination of aging baby boomers and the implementation of the Affordable Care Act means that the health care industry will rapidly continue to expand and change.

As an independent health care consultant, you can offer management and data analysis for organizations like hospitals, labs and therapist offices to help implement solutions to improve efficiency and save money. If you have a marketing or economics degree, this is a great opportunity to put it to use.

Food truck


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We included this on our list of business ideas for foodies, and for good reason: A December 2012 study by Intuit and Emergent Research predicted that revenue from the food truck industry will reach $2.7 billion by 2017.

A truck is a much less expensive investment than a brick-and-mortar restaurant, and according to Mobi Munch founder Josh Tang, the failure rate for food trucks is just 10 to 20 percent (as opposed to 60 to 90 percent for restaurants). With the right equipment and some great recipes, you can have your mobile eatery up and running in no time.

Freelancing


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Companies are increasingly turning to freelance and contract workers to fill the skill gaps in their staff. It's not hard to imagine that you could build a whole company around providing freelance services of one sort or another.

According to Freelancer.com, which lists more than a million freelance projects on its site, the most in-demand freelance services are data entry, academic writing, Excel projects, data processing, Web search and Facebook-based jobs. Some freelance gigs pay by the project and others pay hourly, and the rates can vary greatly. But as you gain more experience, your earning potential will soar.
Mobile consulting


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Mobile tech is now a must-have for almost any business, but finding ways to go mobile is a challenge for many business owners. If you can provide affordable mobile solutions to businesses that need them, you'll find mobile consulting a rich business opportunity.

According to Jamie Turner, founder of The 60-Second Marketer, there will be an ongoing need for mobile assistance.

"Research from The 60-Second Marketer indicates that there are more people on the planet who own a mobile device than who own a toothbrush," said Turner, who co-authored the book "Go Mobile" (Wiley, January 2012) with Jeanne Hopkins. "So it's safe to say that your prospects are using mobile. If you're in business, it's your job to be where your prospects are. Your prospects are in mobile right now."

Translation services


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There's no denying the global marketplace is growing and reaching beyond the borders of China and Mexico. All that cross-cultural communication is creating a growing need for translators.

According to the U.S. Bureau of Labor Statistics' Occupational Outlook Handbook, the hiring of interpreters and translators is projected to grow by 46 percent by 2022, much faster than the average for all occupations. This means it's a big business opportunity for entrepreneurs who can bring foreign-language speakers together with businesses in need.

Employee-monitoring services


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Employees are increasinglymobile. In fact, according to a forecast from the International Data Corp., the U.S. mobile-worker population is expected to grow to 105.4 million workers worldwide by 2020. So how are employers supposed to keep track of what their workers are doing? Aspiring entrepreneurs can find many ways to solve this problem.

There are plenty of vehicle-tracking time clocks and time-clock apps, but employers often don't have the staff or the time to manage all this new data and distill it into what is needed for payroll and billing. A company that could provide employee-monitoring services, as well as some additional outsourced human resources functions, would be in great demand right now.

Traveling salons


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As people live longer, there's an increasing need for senior services of all sorts, and not all of these needs are related to health care. One service that has nothing but growth potential is a mobile salon that travels to customers' residences to do their hair or nails.

As aging baby boomers move into the senior-citizen category, there will be a growing need for these mobile services that help keep them looking good without requiring them to make a trip to the salon.
Healthy vending machines


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More and more health-conscious and time-strapped Americans are looking for quick food on the go that is healthier than the soda and chips you usually find in vending machines. This has spawned a whole new industry of wellness-oriented, specialized vending companies like Fresh Healthy Vending that offer franchisees the chance to own and service vending machines with better foods and beverages.

Interested entrepreneurs can either open a franchise from an existing vending machine business or sell vending-machine friendly products to help stock up schools and offices with healthier, affordable snacks.

Smartphone repair


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Smartphones have become indispensible for both business and personal use. But have you ever tried to get one fixed? Repairing a broken phone can cost as much as it does to buy one.

Smartphone-repair services like iDropped, a successful chain of Pennsylvania-based smartphone repair stores, are starting to crop up around the country. If you have a knack for fixing broken screens and solving smartphone tech problems, then opening up a more affordable smartphone repair shop or service might be the way to go.

Contracting


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Contracting is a great optionfor skilled workers who are ready to take the leap from being an employee to owning their own company. With the economy improving and more people looking to purchase or improve their homes, there's more of a need for skilled labor, making this the perfect time to start offering contracting services. If you can cater to first-time homeowners, even better — according to CNN, 2015 is the year first-time home buyers are making a comeback as millennials start looking to buy their own homes.

It's probably best to start small and test the waters, but once you've proven your success, your business can continue to grow.
Business services


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A lot of companies cut back on support staff during the recession, and many are reluctant to rehire, even though they need help. Instead, many are outsourcing noncore business functions to third-party firms. This is creating a business opportunity for anyone who can provide marketing, human resources, health care management or any other service a business needs.

This is especially good news for entrepreneurs who want to run a small business. According to business research by the Michigan State University Broad College of Business, the business-to-business services field is highly fragmented and not dominated by any large players. Instead, small businesses have the opportunity specialize and focus on their niches.

3/11/2016

How To Effectively Manage Employee Training Costs

Employee training is always one of the most required things in an organization because a skilled and trained employee always performs better to those who are either unskilled or not trained in the company’s job environment. A highly skilled technical staff is the lifeblood of any company and helps in delivering the most out of the given resources. 

How To Effectively Manage Employee Training Costs



Ongoing education is important because it helps technical workers being motivated, innovative and interested. But the employee training programs and educational conferences can be pricey and there may be significant employee training costs which every company cannot bear. Large employee training costs can be out of the reach of small companies and financially they cannot withstand the costs. So, how to find a solution for that? Here are some ways to stretch your dollars and effectively manage training costs.

Conduct an assessment to find out which courses and modules are absolutely important

First assess all the courses and training materials you are using in the employee training and determine which ones are necessary and which can be removed from the trading strategy. Conduct surveys on employees and perform in depth analysis to determine if the current strategy is effective. Ask employees to provide a feedback to understand which training modules they have learnt and how much successful the module was. By doing this you can fine tune the courses and trainings you have and cut down the employee training costs by removing the unnecessary modules.

Converting your traditional training courses to eLearning strategy is a great way to cut employee training costs

Analyse your currency training strategy and see how it can be moved to an online training format. With eLearning strategy you can get an access to a wide variety of media tools and formats of delivery. You can make the training experience more effective and engaging and you can reduce the other employee training costs to a great level by deploying eLearning strategy.

Create a synchronous eLearning strategy

This will be of great help if instructors or facilitators are required to be present during the online training. Developing a synchronous eLearning strategy helps a lot in eliminating the instructor travel costs which can be a great part of costs. Arrange live events and during them instructors can directly interact with the participants via video conferencing or instant messaging. They can address concerns or questions of the employees and actively participate in the discussions.

Online employee training offers organizations the ability to reduce the employee training costs and boost the performance shown by the employees. Whether the company is a small company having a staff of five or a big company having a staff of 5000, whether the company has a budget of hundreds or millions, online employee training offers high knowledge and skill development which can increase profits, cut costs and offer a great return on investments you make.

The Leading Benefits of Virtual Dedicated Server Hosting Revealed

Previously, the idea of a private server was a scary one to many businesses; business owners had a tough time adapting the concept. This notion has changed over time. Over the years, more and more businesses are accepting virtual dedicated server hosting as the gap that links cheap but unreliable shared hosting servers and reliable but steeply priced dedicated server hosting.

What Is Virtual Dedicated Server Hosting?


For those who are unfamiliar with virtual dedicated server hosting, we will help you learn more about it today. This is a server operating within a server. Each of the virtual private server works similarly like a dedicated server, however it manages to do away with the high price of a dedicated server hosting as it shares the resources of the main server. In the same vein, every hosting offers reliability, high security, flexibility and scalability like no other. This is the main reason why virtual dedicated servers are known to be the most ideal solution for online businesses that needed more features, greater control, and a cost efficient option.

What are the most important reasons for getting a virtual dedicated server hosting? They are the following:

Full Root Access. Similar to a dedicated server, this type of hosting affords you unlimited root access. Meaning, you will have total freedom and control to configure your website without affecting other websites. Similarly, any changes made by websites sharing your server will have no bearing on your website. Due to this, you can eliminate the risk of downtimes due to the faults made by other websites. This eradicates the risk of downtime owing to the mistakes made by others within the same server. As private servers are invisible to each other, your site is sure to enjoy total functional isolation.

It Is Affordable. As a virtual dedicated server hosting provides you all the advantages of a dedicated server at a much lower cost, this plan is therefore very cost efficient. You will have the flexibility to host unlimited domains with your preferred dedicated server hosting plan.

100% Secure. Much like dedicated servers, a VPS never shares spade with other customers, so your resources are 100% yours and 100% secure. So, you will surely enjoy total security at a fraction of the cost.

More Power Guaranteed. With a virtual dedicated server you can avail of the services of a single dedicated server which has been partitioned to various number of servers. Hence, you will get more bandwidth and full control. These partitions own their very own operating system and each have definite hardware resources of their own.

At this juncture, you will have to make a decision as between a dedicated hosting and a virtual dedicated hosting. Dedicated hosting is very steeply priced and only very big websites with really big traffic can justify the pricing of the hosting services. Therefore, it is the perfect choice for companies looking for the best options at affordable prices.

Businesses can greatly leverage from the offers of reliable server companies, after all it is for the best interest of your business. Why settle for less, when you can get more for less? Take the switch and experience the advanced features only a highly reliable hosting can offer.

3/10/2016

Medical and Healthcare Customer Service programs and satisfactory task

The perfect solution for the busy hospital, medical practice, and clinic. You may hand out the booklets for staff to read on their own or use the training tips in the Leader’s Guide for even more impact.What makes one organization better than another organization? With your experience as a customer, you can probably name several characteristics that make one company shine above the rest? These companies have a genuine interest in exceeding their customers’ expectations. They want their customers to walk away thinking how great the service was.



Why Do We Need To Have Standards Of Service in Healthcare? 

Customer service in the Healthcare industry is finally getting the attention it deserves. Outstanding service ensures survival in increasingly competitive markets. We can’t afford to ignore its importance. The Healthcare Industry is starting to recognise the need for superior customer service. However, because those formulating policy have not considered the industry to be a ‘service’ provider, standards are way behind other service-orientated industries. This is causing (financial) damage to the Healthcare industry. Did you know that it costs 6 times more to attract a brand new customer than to keep an existing one or have one referred by word of mouth! 

What is Customer Service? Why is it important? 

Customer service is anticipating and satisfying the needs of your customers and potential customers in a consistent and dependable manner. Great service in the Healthcare Industry cannot always be gauged by the normal service measures used in other industries e.g. “fast” does not always mean “good” in Healthcare. The industry still needs to establish the indicators that demarcate good service vs. bad service. Health Industry benchmarks are needed. This Healthcare Customer Service Training Module series works towards establishing those benchmarks. We have a lot of catching up to do.

Customers are: 

1. The most important people in any organization 

2. Not dependant on us – we are dependant on them 

3. Not interruptions to our work – they are the purpose of it 

4. Doing us a favour when they call – we are not doing them a favour by serving them 

5. Part of our organization

6. Not cold statistics – they are human beings with feelings like our own 

7. Not someone to match wits with 

8. People who have wants – it’s our job to fill those wants 

9. Deserving of the most courteous and attentive treatment we can give them 

10. The lifeblood of this and every organization


The Healthcare Warrior’s 10 Commandments of Superior Customer Service Customers are: 

1. The most important people in any organization 

2. Not dependant on us – we are dependant on them 

3. Not interruptions to our work – they are the purpose of it 

4. Doing us a favour when they call – we are not doing them a favour by serving them 

5. Part of our organization 

6. Not cold statistics – they are human beings with feelings like our own 

7. Not someone to match wits with 

8. People who have wants – it’s our job to fill those wants 

9. Deserving of the most courteous and attentive treatment we can give them 

10. The lifeblood of this and every organization


Some typical situations to handle are- Calming the upset patients and families, rephrasing of the messages like ‘I am not sure how much time it will take’, ‘I don’t know’ and handling other peculiar and difficult situations.

What should be the objectives of a healthcare customer service training program?



· Make a differentiation between training program and other types of service interactions.


· Explain the significance of positive attitude in providing the best customer service.


· Enlist the benefits of providing quality customer service to both internal and external customers.


· Know what the barriers for a quality customer service are


· Apply different methods to deal with angry or upset customers


· Rephrase the blunt communications for getting better results


· Create an action plan to improve their customer service skills

Training on rephrasing for better relationships

It is not just what you say but how you deliver the speech is important. Good healthcare customer service training teaches you this fact and how to excel on this art. Participants are taught how to use language so that it is received in a better way by the patients and their family members. The art of saying ‘no’ in a tactful manner is taught and some supporting alternative phrases for ‘I don’t know’ and ‘this is not my job’ are taught.

Dealing with difficult people

Not every customer is good and it is not easy to deal with difficult people. A good healthcare customer service training program should teach the participants on how to effectively interact with the customers who are angry, distraught, scared and manipulative. The various techniques of dealing with the difficult people and managing them are taught so as to deliver the highest degree of customer satisfaction and services.

How to deal with stress?

Healthcare customer service can lead to unnecessary stress when it comes to deal with customer needs, wants and frustrations at regular and faster rates. The healthcare customer service training program should teach stress management techniques which ensure that the participants stay refreshed and alert always. The various types of stress relieving techniques can also be taught to remove the stress developed in the customer service agents.

Have you met the objectives of this module? 

Ask participants to answer all the module’s objectives that were highlighted at the commencement of the session. To close, ask participants to remember this...  Airline passengers want more than a flight  Hotel guests want more than a room  Restaurant patrons want more than a meal So, why wouldn’t Health Care customers want more than just somewhere to be medically treated?

2/09/2016

What Are The Advantages Of Web Based CFD Trading Platforms

CFD trading allows taking advantages of both the rising and falling of financial markets and does not need owning of any of the financial assets involved. CFD is only a contract for difference and the trader makes a bet on the price fluctuations only while enjoying the zero costs of owning the assets. CFD trading platforms thus provide a lot of new opportunities to the financial traders and the traders can make CFD trading a great source of earning.

Web Based CFD Trading Platforms





There are different types of CFD trading platforms available in the market which can be downloadable software, web based or mobile apps for trading. Web based platform can be accessed from anywhere and there is no need for downloading the software as in the case of downloadable software platform. Here we will discuss the advantages of web based CFD platforms.

There is no need to download software in web based CFD trading platforms

All web based CFD trading platforms allow you to trade with the use of a web browser and internet connection without the need of downloading the software. If you are travelling to other countries or using any other computer you don’t need to download software for starting the trade. Just you open the web browser, start your internet connection and start trading online. Web based platforms are quick and easily accessible from all the parts of the world.

Web based platforms allows you to trade from anywhere

All you need is a compatible browser to open the CFD trading platforms and an internet connection. You can start the trading platform instantly and start using your trading account from any part of the world. Wherever you go in the world, you don’t have to take your laptop with you to use the software based platform for continuing online CFD trading.

Web based CFD platform provide multiple features for CFD trading online


Web based CFD trading platforms offer a lot of additional features to the CFD traders which cannot be seen in the traditional way of CFD trading i.e. trading with a physical broker. In traditional way you had to contact your CFD broker to carry out the trades but in web based online CFD trading platform, you just need to have a computer and internet connection to perform online CFD trading. There are many CFD brokers available today which provide web based platform to the traders for free. In these platforms a trader can carry out the trade orders, manage the trades and perform technical analysis as well as read latest updates and charts from the market. Many other platforms provide additional features too which are important for the success of the CFD trader and may cost some additional charge.

1/26/2016

Indian women entrepreneurs and top rated problems in corporate market

Women Entrepreneurs are playing vital roles in corporate world but the numbers are very few.Women entrepreneurs are key players in any developing country particularly in terms of their contribution to economic development. In recent years, even among the developed countries like USA and Canada, Women's role in terms of their share in small business has been increasing. 

Indian women entrepreneurs and top rated problems in corporate market


The facts of a study: 

Conducted by IIT, Delhi are :

(i) Women own one-third of small business in USA and Canada.
(ii) Britain has seen an increase of over three times of women in workforce than that of men even since 1980s.
(iii) Women make for 40 percent of total work force in Asian Countries.
(iv) In China, women outnumber men by at least two times when it to starting business there.
(iv) In Japan, the percentage of women entrepreneurs increased from 2.4 percent in 1980 to 5.2 percent in 1995.

Problems of Women Entrepreneurs :

There are umpteen problems faced by women at various stages beginning from their initial commencement of enterprise, in running their enterprise. Their various problems are as follows:

1. Patriarchal Society: Entrepreneurship has been traditionally seen a male preserve and idea of women taking up entrepreneurial activities considered as a distant dream. Any deviation from the norm is frowned and if possible, immediately curbed. Women also have to face role conflict as soon as they initiate any entrepreneurial activity. It is an uphill task for women to face such conflicts and cope with the twin role.

2. Absence of Entrepreneurial Aptitude: Many women take the training by attending the Entrepreneurship Development Programmes without entrepreneurial bent of mind. As per a study, involvement of women in small scale sector as owners stands at mere 7 percent. Women who are imparted training by various institutes must be verified on account of aptitude through the tests, interviews etc.

3. Quality of EDPs: All women entrepreneurs are given the same training through EDPs. Second-generation women entrepreneurs don't need such training as they already have the previous exposure to business.

4. Marketing Problems: Women entrepreneurs continuously face the problems in marketing their products. It is one of the core problems as this area is mainly dominated by males and even women with adequate experience fail to make a dent.
For marketing the products women entrepreneurs have to be at the mercy of middlemen who pocket the chunk of profit. Although the middlemen exploit the women entrepreneurs, the elimination of middlemen is difficult, because it involves a lot of running about. Women entrepreneurs also find it difficult to capture the market and make their products popular.

5. Financial Problems: Obtaining the support of bankers, managing the working capital, lack of credit resources are the problems which still remain in the males domain. Women are yet to make significant mark in quantitative terms. Marketing and financial problems are such obstacles where even training doesn't significantly help the women. Some problems are structural in nature and beyond the control of entrepreneurs.

6. Family Conflicts: Women also face the conflict of performing of home role as they are not available to spend enough time with their families. They spend long hours in business and as a result, they find it difficult to meet the demands of their family members and society as well. Their inability to attend to domestic work, time for education of children, personal hobbies, and entertainment adds to their conflicts.

7. Credit Facilities: Though women constitute about 50 per cent of population, the percentage of small scale enterprise where women own 51 percent of share capital is less than 5 percent. Women are often denied credit by bankers on the ground of lack of collateral security. Therefore, women's access to risk capital is limited.
The complicated procedure of bank loans, the inordinate delay in obtaining the loans and running about involved do deter many women from venturing out. At the same time, a good deal of self- employment programme has been promoted by the govt. and commercial banks.

8. Shortage of raw-materials: Women entrepreneurs encounter the problems of shortage of raw-materials. The failure of many women co-operations in 1971 such as these engaged in basket making were mainly because of the inadequate availability of forest-based raw materials.

9. Heavy Competition: Many of the women enterprises have imperfect organizational set up. But they have to face severe competition from organized industries.

10. High cost of production: High cost of production undermines the efficiency and stands in the way of development and expansion of women's enterprises, government assistance in the form of grant and subsidies to some extent enables them to tide over the difficult situations. However, in the long run, it would be necessary to increase efficiency and expand productive capacity and thereby reduce cost to make their ultimate survival possible, other than these, women entrepreneurs so face the problems of labour, human resources, infrastructure, legal formalities, overload of work, lack of family support, mistrust etc.

Reference Source:


11/18/2015

Exclusive Interview: Shopping experience and e-commerce for rural India

Firms across the globe have adopted e-commerce (EC) in their operations and have reaped benefits thereof. While firms in technologically developed countries like US and UK has deployed EC to its advantage, whereas firms in developing countries like India failed to follow the suit. Though it has been widely acknowledged by the researchers that the adoption of EC by businesses in developing countries is an important economic indicator of growth; many firms in India still have not realized the potential benefits of EC. This study examines the existing status of EC in India and reviews the available literature on E-commerce adoption in India and puts forth opportunities for future research. The study might serve as a starting point for further research in e-commerce in India.

Exclusive Interview: Shopping experience and e-commerce for rural India




India lives in its villages, and with more than 600,000 villages, it is a market that every vendor wants to cater to. However, despite the size of the market, it is an extremely fragmented market and difficult to reach. The Indilens News Team, which owns Indilens Shopping Lens, an eCommerce portal, is going to take this challenge head on and is now reaping the benefits of being a player with huge focus on rural India. To get more details on the strategy adopted by the firm, Our representative has spoken with Main Uddin, the Founder & CEO of Indilens News Team and Focus A-Z entertainment private Limited. 

Some edited excerpts:



Please tell us about Indilens.in ?


Indilens.in is essentially a rural eCommerce portal. From many years we have been in the rural distribution space and have distributed large number of various products as well as event management projects. Actually, we are news provider cum publisher ( http://indilens.com ) but we have another Job portal too which is running on http://indilens.org



Rural market is typically one of those dark spaces of India where factors like issues of the last mile reach, poor connectivity, etc, forces marketers to keep working in the urban and metro areas. So for us it was the white space as it gives you the opportunity to develop the business model that’s unique and you don’t face much competition. Otherwise you need to do what everyone else is doing.

So we chose this space and our whole strategy was to work with organizations who are already present in rural markets and have a good influence over customers. So we are willing to work with NGO’s, micro finance institutions, agri post, department of post. These are all organizations that have a captive customer base, enjoy high credibility with the customers and also have a fair amount of influence over the customers. So that’s the way we have been working over time.

The typical challenges related to the rural marketing are customer acquisition. To acquire customers at a low cost is a big challenge as this market is fragmented. Today there are over 600,000 villages in India and most of them have population less than 2000. So it’s a very fragmented market and difficult to reach, so we learnt how to access customers. We manage cash collection and lastly we were able to hold last mile reach and the delivery of products and then servicing of products.

What are the products that rural customers are buying from your eCommerce portal?

Typically, while we were giving them daily needed products (conventional and non conventional), they were telling us to give mobile phones and television. It was very difficult for us to relate to that in the beginning but then it occurred to us that in our model we were pushing products which we thought they need and they definitely need these products and solar lamps have large amount of customer pull because the situation in the southern states has not been great in the last few years. But then we thought you know it is good to move to a model which is dictated by customer preferences.

We have been funded by working partners till now. We decided that we will work on an assistance sale model, because the rural customer is unlikely to go to the internet and click. You would need somebody to click on their behalf and take the order.

Some of the products we have in Indilens.in are consumer durables like television, refrigerator, electronics like mobile phone, cameras, cookware like nonstick Tawas and induction stoves. Induction stoves is a great example of how aspirational the rural customers are.

How many products have you approximately delivered in these areas?

We want to move into an eCommerce mode in January. From selling 100s and 1000s of solar lamps and other products, we want to move to selling products like 700 refrigerators so far. We want to sell some television, canon cameras, induction stove, nonstick Tawas, sarees and artificial jewelry.

Are you facing any competition in this space?

It’s really a white space market. There isn’t much competition in the market. Competitor helps expand the market and develop the market but right now it’s really white space market. But we do expect that as we pioneer this space, there are more people coming in because that makes lives easier for the rest.

How mobility is helping your business to expand?

In fact, app is probably the single biggest selling tool for us. The app works as an e-catalogue. So we have assistance sales agents all over the place starting with our partner organizations like NGO’s and India Post. They are customer facing and they show the e-catalogue through the mobile app. This becomes an essential feature as a selling tool. Through the apps, we can also take the orders and the data connectivity is very poor in India. With regards to this we have developed the app in such a way that we can actually take order even without data connectivity.

Today the eCommerce market is expanding by leaps and bounds. So what do you think will be the future of this space?

Very clearly, the way the market has grown so far, it’s not really sustainable because huge money is spend into customer acquisition. Customer acquisition is critical only if you are able to retain the customer. It makes enormous sense to acquire customers whatever the price provided you are able to extract the lifetime value of the customer.

So in our business, we don’t want to mess up the market, as it’s a virgin market. It’s not been spoilt by other players so why would we go and risk our game. The problem we are solving is the problem of access as they don’t have access. It’s important to acquire customers and retain them. It’s also important to avoid the discount game. It’s important to be a niche player for example the rural space is massive. You need to be different and not work in the same space as it’s not a level playing field. It depends on how specialized you are as an eCommerce player.

7/16/2015

Global Marketing Success Depends On Products Pricing For Multinational & Transnational Company

Now the world has become more smaller and shorter than before as it is possible to reach any one person(s)or product(s)with in few seconds.So it is more difficult to determine Pricing products or services in international marketing.Price is,in part,a function of cost, and the foreign exchange rate is an important determinant of a company's cost of production. When borrowing capital to do business the cost of that capital can be very influential in the price decision.

Global Marketing Success Depends On Products Pricing For Multinational & Transnational Company
Multinational Pricing:-
It is conducting business across international boundaries,and dealing with foreign exchange, the risks rise enormously,especially the impact on financial resources and decisions,and particularly on pricing strategy.Foreign exchange is the way business can be conducted across national boundaries.Customers buy value, reflected in the price and intangible attributes of the product.Price is a function of cost in part,and foreign exchange affects the cost position.Foreign exchange rates, therefore,directly impact on the production quality and effectiveness of a company's marketing effort.
Present day Foreign exchange:-
What emerged from the collapse was a managed dirty float(due to supply and demand)with special drawing rights(SDR)."Dirty"refers to actions by governments participating in exchange rates to influence rates,"managed" refers to the effort by governments to influence exchange rates with fiscal or monetary policy instruments.SDRs were created by the IMF to supplement the dollar and gold reserves.Its allocation is based on a formula which takes into account factors such as share of world trade and can be used to help balance of payments situations or settle financial obligations like swaps,donations and security for financial obligations.
IMF controller of Foreign exchange:-
Most countries of the world are members of the IMF which,amongst its many functions,exercises surveillance over exchange rate policies of members,manages the SDR,provides temporary balance of payment assistance and technical assistance.
Dynamic nature of Foreign exchange:-
The foreign exchange market is very dynamic. The price of one currency in any other currency is the result of forces of supply and demand in the foreign exchange market.The demand for one currency may be due to consumers wishing to buy from overseas or a belief that one country's currency is stronger than another's.In Africa, where exchange controls occur in some countries,this can lead to an official or unofficial black market.Also currency allocation is a feature which tends to slow down business or hinder its development.
If a country sells more than it buys,its currency value will rise and vice versa.If foreign exchange rates were set simply by money exchanged for goods and services then forecasting exchange rates would be easy. However,short and long term capital flows, speculative purchases and sales distort the picture.
Major factors of Foreign exchange:-
Governments intervene to dampen fluctuation in exchange rates.Often they get involved in extensive trading to stem the rise in currency value so exports are not harmed.Exchange rates are very difficult to forecast due to a multitude of factors.Forecasts are,therefore,a continuation of economic analysis and judgement.One of the issues in analysing a country's competitive position is the critical adjustment of the exchange value of a country's currency.The index is a trade weighted index (based on world trade share).Indices are issued by various bodies like the IMF.Three basic factors determine the boundaries of the pricing decision:-the price floor,or minimum price, bounded by product cost,the price ceiling or maximum price,bounded by competition and the market and the optimum price,a function of demand and the cost of supplying the product. In addition,in price setting cognisance must be,taken of government tax policies,resale prices,dumping problems,transportation costs, middlemen and so on.Whilst many agricultural products are at the mercy of the market (price takers)others are not.These include high value added products like ostrich,crocodile products and hardwoods,where demand outstrips supply at present.

Conclusion:-
Prices are fixed,usually on the basis of cost, competitive or market considerations and may be pitched high or low,depending on supply/demand and intangible (image) factors.The process of price fixing is compounded by exchange rate considerations,currency fluctuations,inflation, devaluation or revaluation,transfer and price escalation considerations.Pre-financing in export is often essential as sellers have often to bear the costs involved before obtaining the revenue from the sale.Sources vary,including internal and external sources.In order to make sure that the export system is supported and encouraged,many countries have an export credit guarantee system which helps reduce the financial risks involved.Other methods of obtaining revenue in a risk situation are by operating in the futures and options market. However,these are not as prevalent in less developed countries as in more developed ones.
Reference:-
i.Global marketing management by W.J.Keegan
ii.Global pricing methods by James R C.
iii.Global market in India by Apurba K Roy