What To Do For Online Investments in 2020

2019 has been a particular year for what concerns online-based businesses. Everything ranging from Amazon FBA to Dropshipping has been impacted by a multitude of price increases in terms of paid social advertisement and hosting problems on AWS. With this in mind, there have been some speculations regarding which are and which aren’t good business models to follow in 2020 for what concerns online investments, let’s analyse some of them.

The Rise Of Dropshipping Services

Let’s state a major fact: Aliexpress and everything China-related for what concerns dropshipping is dead. As said above, ads prices rose in the last couple of months and so have such Chinese suppliers prices. With this in mind, it’s important to understand that dropshipping isn’t just limited to physical goods and cheap products that have been white labelled on a quickly built Shopify store.

In fact, drop shipping as a whole has evolved to drop surfing, where websites are building an interface which supplies services ranging from insurance, real estate renting and finance. There are many drop shipping portals which are providing financial services, ranging from stocks trading to long term finance. (given the fact that refurbishments were such a popular topic in 2019).

Don’t Blind-Trade

Online trading has become a substantial matter for what concerns online investment. In fact, what was once known as an incredible niche topic has moved to a more “mainstream” audience, also because the entire “online entrepreneur” culture has built significant relevance on Youtube, with famous ones being Tai Lopez, Grant Cardone and Gary Vaynerchuk. With this in mind, especially given the fact that online trading has been approached by many youngsters, it’s important to have a deep market understanding before starting this matter, otherwise, it will basically be considered as a mere form of “online gambling”.

Invest In Data Science

In 2019, data science has risen to the top for what concerns technology development and, in fact, many companies started to open offices where the Python-savvy developer would have been able to create and manage such data. With many startups opening on the matter, in 2020, this could be quite an easy form of investment, especially within the real estate industry.

This could also be considered from a technological point of view, especially for the entrepreneur who is technical in his approach and knows the ins and outs of the front end development industry. Data science is being used in a variety of business sectors, from commercial property management to eCommerce.

To Conclude

These are 3 of the main forms of investments for what concerns the mobile industry. There are, indeed, many different skills required in order to be successful within these areas, given the fact that these are not just simply “supply and demand” based, but, it’s safe to say that the future of online entrepreneurship will move towards this type of approach.

How to Transform Your Side Hustle into a Genuine Business

If you have been having a successful time in a side hustle, gig or ‘passion project’ then you may want to consider taking it a step further when it comes to the New Year. As developing your business could open up a whole new world of success. So, with that in mind, here are some of the key factors you can work on in order to develop your side hustle that one step further in 2020:

Why Develop Your Side Hustle?

So, your side hustle is going well. You’re making money, feeling positive and you are starting to wonder: could you be doing more? The answer is almost always: yes.

The fact is that whether you mean to or not, almost all successful side hustles eventually begin to morph into full-blown businesses. Intentionally taking that step from ‘side gig’ to ‘legitimate business’, however, can be a thorny path to cross.

Dedicate More Time

Okay, your side hustle is doing well based on the amount of time spent on it so far. But, how much time has that been realistically? Have you been working both weeknights and weekends to make this work?

By no means should you burn both ends of the candle in order to achieve a full business out of your side hustle, but allowing more hours to work does help. If you have been fairly stingy with the amount of time invested in the side hustle, consider upping that now. As it will be more time and investment at this stage which will now push your business forward.

Seek a Partner

If you want to take your side hustle all the way then it’s important to consider taking on a business partner. You may have avoided this route thanks to slight unease or unwillingness to share the profits, but think about it. With a partner, you could easily make up for a skills gap, gain useful contacts or simply double your work output as a side hustle/business. For example, if you’re an app development London professional, you may want to seek a partnership from an Alexa developer in the north. Not all partnerships end in horror stories, no matter what the internet might prefer to tell you.

So, start networking with like-minded individuals and try to suss out who might be worthwhile partnering with. Even short-term collaborations can be useful. With that in mind, don’t knock anything until you see what might be available to you!

Focus on Successes

By the time you have developed a side hustle to the point of potential expansion, you will have a good grasp of what works and what doesn’t. If you want to move forward, then it is vital that you concentrate doubly on the successes you have had. Whilst, potentially for good, leaving the failures behind.

Doing this, you will enable your side hustle to shed a certain weight. Thus potentially giving yourself enough buoyancy to shoot higher as a result.

Set-Up Specific Systems

Systems tend to make a business function more smoothly, allowing the day to day tasks to tick by peacefully. Implementing these early in your side project in order to support your business as it grows, then, could be simply good foresight. Good systems to have in place early includes: invoicing, accounting, document filing and even something as simple as having a separate business account for your side hustle.

Consider Hiring

Developing your business to the next level may require extra work, not all of which you can complete by yourself. This is the point where you may want to consider hiring additional talent to support your burgeoning business – such as freelancers.

Of course, hiring a full-time employer for your side hustle at the exact moment of expansion may seem like one step too early. So, instead hire on freelancers for a specific period of time every week or month. This way, you can get help on specific projects or clients in order to expand your side hustle into the next stage of business.

Final Thoughts

Turning a side hustle into a fully-fledged business isn’t necessarily as easy as saying: 1, 2, 3. But it can be much simpler than you may anticipate. Get a plan in place and you will be able to achieve a steady growth trajectory over a set period of time. Which, compared to other business models, may help you to develop a much stronger foundation of success.

Understanding Product Development

Developing and launching new products is one of the most important ways for your business to expand. New products give existing customers more chances to spend money with your company, and provide a clear way for you to attract new ones.

Product development is neither cheap nor risk-free – you have to invest substantial resources in research and development, and the production of prototypes before you have a product you can launch to start earning back it’s development costs and turning a profit. Even if you do invest a lot of time and money in making a product you think is perfect for your customers, there’s a chance they won’t agree, and if you organise a big product launch with a strong marketing push behind it, and the product fails to find it’s audience, it can do some serious damage to your brand. Think of a movie studio that invests a lot of money in what they hope will be a summer blockbuster: if it gets critically savaged, and hardly anyone goes to see it, not only do they lose the majority of the money they invested in making the film, it also becomes less likely people will go to see future films made under that brand.

It’s worth taking the time to understand how the product development process works, so you can make more informed decisions about how you’re spending your money.

Concept Testing

It’s important to test not just prototype products, but the very concepts you’re considering taking forward to development. Customers need to be able to grasp how this potential new product can work for them: why it would be valuable to them and therefore worth spending their money on. If they can’t grasp the concept that the product is based on, it’s unlikely to be worth the money it will take to design and make it.

Iterating on Prototypes

When you begin to produce prototypes, be it of a physical product or mock-ups of the UI and functionality, it’s important to give consumers access to see how they use them. People within your own business already know how your systems are meant to work, so they don’t make good test subjects.

To get a true read on how good your designs are, you need outsiders, unprejudiced by a history with your products. Working with a market research company can help you find testers, as well as finding the right way to learn from their use of a prototype. Asking the right questions and watching their behaviour in the right way will give you the insights you need to feed into the next prototype, and ensure you’re iterating your way to success.

Small Business Expansion Tips

Most small businesses want to expand. The problem is that this is not at all something that is really easy to do. Unfortunately, expanding without a good plan in place can easily lead to failure. As an example, when you hire many employees and you do not really need them, bankruptcy is quite possible.

No matter what your goals are, if you want to expand your small business, here are some great tips from the Fix It Right Plumbing company in Melbourne, Australia. These tips will surely help out a lot.

Focus On Company Culture

Every business needs a very strong company culture, no matter how small it is. This is what keeps employees together when exponential growth starts. When you do not know how or where to start, just talk to the team you have. Think about why the company exists and what its values are. Then, work on the company vision.

You want employees to feel connected to the company so they can stick together if times are tough. Strong company culture will attract brand new customers too so be sure that you are consistent.

Hire The Best People

Hiring is a huge part of successful business growth. You need to take the time that is needed to find the best possible employees. When you hire the wrong staff members, it is so easy to end up failing to manage business growth.

When you hire people, be sure that you think about company culture, not just skills. Will the people you hire be a good fit for the team you already have in place?

Proper Innovation Helps

As the small business expands, it is tempting to spend money on creating new products or improving what is already sold. The problem is that this often happens in an inappropriate way. Do not blindly focus just on one thing. Try to innovate in other parts of your business. For instance, innovate onboarding experience or maybe adopt some brand new technology to scale the customer service department. The goal should be to gain more stability in your business. After you do this, you can focus on introducing new products.

Always Focus On Brand Recognition

As the customer sees your advertising campaign, slogan, packaging or logo, your goal is to be sure it is instantly recognized. Building brand recognition is by far the most important thing at the end of the day. Everyone knows the “Just Do It” Nike slogan. Try to achieve something like this and you will end up with long-lasting customers that are loyal and keep coming back to your business.

Focusing on brand recognition does not mean you should forget about the customers you already have. There are many small business owners that are blindly focused on getting new customers when they should be focused on that and keeping their current ones. Existing customers have to feel valued. When this does not happen, you have a big problem. This is because getting new customers is much more difficult than getting your current customers to come back.

Car servicing Tips: Make Business Road Trips more bearable

Are you someone who travels for business? If yes, keep reading on because frequent business trips can take its toll if they are not managed properly. Just like a recreational road trip, business trips need to be chalked out before hand too. In the latter case, there should be even more stringent planning because it is work related and money is on the line. Did you know you can relieve yourself from road problems while commuting for work just by being more careful with car servicing? Well, car servicing sounds pretty basic but it can really make a huge difference in your life – especially if you have constant field trips.

·        How often you service your car is important

Being consistent with your car servicing is key. It minimizes the potential problems and reduces the probability of getting late to a business conference. You should get service done from time to time, a general recommendation is to get it done semi-annually.

·        Quickly go through your car service manual

Business owners don’t have any extra time on their hands but if you could skim through your car service manual, you would discover many new aspects about your vehicle. For example: when the car parts need replacement, how many times  should you get the service done etc.

·        Look for recommendations when choosing car service centre

Just look around for recommendations because you really won’t have time to research. If a fellow colleague or friends has recently tried a car service centre and is happy with the results, you should follow their advice. Who you get it from is by far the most important factor which is going to determine your overall vehicle health. So if you are puzzled & don’t really know who to select, choose DAT Tyres for your car servicing needs as they have good customer reviews– click here

·        Look after your tyres

Car tyres are highly prone to wear and tear. To ensure smooth driving you need to look after your tyres and that includes inspecting tread depth and also checking for any unnecessary cuts or bulges on the surface.

Reasons to Choose Interdependence Public Relations For Your PR

If you are looking for a public relations company which is going to help your business to reach its goals then I would strongly recommend using Interdependence Public Relations. This service has helped my business more than I ever could have dreamed of and I have no doubt that they will be able to do the same for you.

Looking for a PR company which fits your business is not easy and before we fund these guys we spent months and months sitting through meetings with many PR agencies who just didn’t quite fit well with what we were looking for. In all honesty it was a real relief when we found Interdependence PR because we had almost lost hope. We knew within just 5 minutes of our meeting with them that  these were the guys we were going to use, and I am very happy to tell you that we made a very wise choice indeed. This is what you get when you use this brilliant PR team.

Creativity

Creativity is a must when you use a PR company and you should expect that they think in a different way to you, in order to achieve the same goals. I now realize that this is a company which is very difficult to get a job with because they set such standards. This is why you can count on their creativity because only the very best get to work here.

Market Knowledge

Most PR firms operate in one particular industry or niche and they understand and know those markets very well. This was actually what we were looking for and when the guys at Interdependence told us that they operate in a number of marketplaces we were slightly worried. We really shouldn’t have been however because in terms of our industry they knew it inside out. They knew how to communicate with the consumers  in this industry, what kind of language to use, how to promote things to the market and they also had a deep understanding of the competitors within our niche.

Dedicated to Success

One of the biggest issues which I had with so many of the public relations companies that we sat down with was that they just didn’t really show us that passion which we were looking for. My team and I are hugely committed to success and delivering results and within just a few minutes with the team here we could clearly see that they are built in the same way. They showed us that they were just as committed to delivering results as us, and that blew us away.

Having worked with this company for two years now I can say that our original thoughts about the company were entirely accurate and they have not only promised results, they have also delivered them time and time again.

This is a brilliant PR agency who will most definitely lead your team and your business to find the success which it has been looking for.

Tax Audit Reviews: A Guide on Independent Tax Audit Representation

If you’re like many taxpayers, you’ll never hear from the Internal Revenue Service (IRS) personally. Then again, you may easily become the target of an IRS audit when you least expect it. If you find yourself facing a tax audit, one of the smartest moves you can make is to pursue independent tax audit representation. Here is a glimpse at what this type of audit representation involves.

When you filed your taxes, you may have assumed that you would never be audited. As a result, you might have turned down the opportunity to purchase pre-paid tax audit representation, which would have allowed your tax professional to defend you during your current audit. However, all is not lost. Why? Because an audit defense company can still provide you with the representation you need during your current audit.

According to current tax audit reviews, you can expect your independent tax audit representation provider to evaluate your audit letter from the IRS and then discuss with you its recommendations regarding how to move forward during the audit. Then, the company will take a look at your audit-related documents before the government has a chance to see it.

Next, the company you choose to represent you will attend all of your audit appointments for you and defend your return vigorously. The company may even prepare a request for an appeals conference or a federal tax court petition if necessary. All in all, the company’s ultimate aim is to minimize the tax audit’s financial impact on you, according to the latest audit defense reviews.

Independent audit representation is especially invaluable for business owners. That’s because audits involving business owners can easily cost money and time—two resources that business owners simply can’t afford to give up. With the right assistance, you can get through any tax audit with confidence either now or in the years ahead.

Soul Quest Orlando – Tips on Running a Business

I run a record store here in Orlando and we are just about to enter into our 3rd year in business. The last three years have been very challenging and most importantly I have learned so much. Soul Quest Orlando has taken its toll on me  but I am just so happy that after many years of dreaming about this, I finally took the plunge and did it. I had no prior business experience and so this was a stumbling block for me at times. Nonetheless we have done well so far and we are even turning a profit! If you have dreams of setting up a business then here are some tips based on my own personal experience.

Pick A Passion

Honestly there were some days, weeks and months where I was all too aware that if I didn’t have a passion for this business then there was absolutely no way I would have put in the work that I did. For this reason my first tip for you is to start a business based on something that you love. Don’t get into business for the money, that will come later, pick something which you enjoy doing and go after that, this will keep you hungry and it will ensure that you love what you do.

Don’t Expect An Easy Ride

Mistakes will happen, errors will be made and money will be lost, you have to just accept that you are going to be in for a rough ride when you get into business. Nobody knows how to perfectly launch a business and the truth is that the only way that you are going to survive and thrive in the future is if you make these mistakes and learn from them. I am still learning every day of course but there are things that happened in the first year of the business which I took great lessons from.

Invest in Marketing

No matter how much capital you have to throw at marketing I would recommend that you do it as it will yield more business and more visibility for your business. I made the mistake of thinking that we couldn’t afford any marketing and it was only in year 2 that we decided to invest, after seeing the success which this brought I have really kicked myself for not doing it sooner. Once you get your business off the ground, spend whatever you can to tell the world about it.

Be Strong

I wanted to create really cool atmosphere in the store which is why in the first year I wasn’t really strong with my staff. Unfortunately however when you give people an inch they will take a mile and this is what started happening to me. It is great if you can be nice to people but don’t let them take you for a ride, this is a business after all and that should come before everything else.

Reputation Management Consultant Reviews – How Rep Management Consultant Fix Your Online Reputation

Every business should give a great amount of focus to the quality and status of their online reputation. Even if you have a business which doesn’t operate online it is absolutely crucial that you pay attention to this metric. There are more and more people who use the internet to find the goods and services which they need, and if your company has a poor reputation you are going to be losing money by way of lost sales. It is for this reason why many companies use a rep management service and if you see the reputation management consultant reviews you will see just how happy their clients are with the service. Let’s take a look at what these companies focus on when it comes to fixing your online reputation.

Social Media

 The content which is on your social media channels should represent the values and the ethics of the business. This is not a place for controversial content or bad jokes, and this is what often gets many businesses in trouble. A rep management company will ensure that the content on your social media profiles falls in line with you business and they will also find the best time to post and the best content which will get maximum engagement.

Website

Your company website should be SEO optimized and it should also feature positive and sharable content about your business. The key is to create content which brings value to the reader and inspires them to share your business on their own social media pages. A well designed and high quality content website will act as the foundation for everything that you do online, this is your shop window.

Negative Content

If there is negative content which features high up the search rankings for keywords that pertain to your business then this can be very damaging and it is something which everyone will see when they search for your business. This content cannot be deleted, that isn’t how the internet works, but it can be hidden through the creation of high ranking positive content. A rep management company will use their contacts and their expertise to ensure that positive content about your business ranks high up the search engine, so that this is what people see when they search for your business online.

Review Sites

One place where reputations can be won and lost is on review sites and it is vital that your business is aware of what is being said. The rep management company will set up alerts so that you know when a review is left, and they will also teach you best practices when it comes to negative reviews. A negative review can be turned into a positive opportunity if you reply in the right way. You need to know exactly what is being said about your business in order to continue to increase your online reputation.

Scott Tominaga – Why Your Business Needs a Financial Advisor

One of the most common questions which we are asked here, specifically business questions, is what can the role of a financial advisor play in a business? Whether a financial advisor is necessary? And when should a business hire a financial advisor? To help us answer those burning questions we have consulted with one of the best in the business, Mr. Scott Tominaga. Scott has been supporting business throughout his career and he was most excited to contribute to giving you some answers around why your business needs a financial advisor.

The first thing to mention is that on the third question of when a company should hire a financial advisor, Scott’s response was ‘as soon as the company can afford one;. His reasoning for that can be explained by looking at what a financial advisor can bring to a business.

Reasoning

For someone to make financial decision about their own company they need tome able to completely remove any emotion and base their decision on fact and logic. This however is almost impossible if the business is your own, as your heart will always be factored into the decision making process. A financial advisor on the other hand will deal in nothing more than numbers and probabilities when making a financial decision, which is why they are great to have on board.

Contacts

When you hire a financial advisor you are not just getting their services, but also their little black book of contacts. Don’t underestimate how many people a financial advisor knows, or how much they can help you with what you need. Let’s say that you are looking for new premises, fresh investment or even a good deal on a mortgage, your financial advisor will be able to put you in touch with someone who can help you with what you need.

Avoid Failure

Did you know that less than 50% of all businesses will make it past year 5? The most common reason for the failure of these businesses is poor financial management and decision making. The accountants will of course deal with the incomings and outgoings of your business but it is the financial advisor who will help you to shape your financial plan going forward. You can avoid exposing yourself too much, you can make smart financial plans for growth and ultimately you can have someone on hand who will be able to spot danger and steer you away from it.

Good Advice

The clue really is in the title with this job role, financial advisors are able to give you great advice which can really help you to reach the levels of growth and success which you are looking for. These men and women only have their client’s in mind when they are offering advice and once they get to know you and your business they will be able to serve you to the best of their ability.

Don’t delay, get yourself a financial advisor as soon as you can.

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