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Kyle

Business Finance Tips

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Whether you recently founded your business or have successfully run a popular business for over a decade, it’s well worth continuing reading to discover a few finance tips which are designed to ensure that your business remains financially healthy.

Business Finance Tips:

1. If you can afford to hire an experienced, reputable accountant make sure to do so

While you can save your business a small amount of money by trying to balance your business’ books yourself, if you can afford to hire an accountant, it’s highly recommended that you do so.

As business taxation laws change more often than you’d think and if you’re focused on running a successful business, you won’t have the necessary time to keep up to date with every change which is made to business taxation laws.

2. If you can’t afford to hire an accountant, choose to download reputable DIY accounting software

if you can’t really afford to hire an accountant to manage your business’ books, your wisest choice may to invest in purchasing easy to use DIY accounting software. Which will make the process of managing your business’ finances a whole lot easier.

Before you spend hundreds of dollars on DIY accounting software, just make sure to do your homework and to read plenty of unbiased consumer reviews before you make a final decision. As some brands of DIY accounting software are easier to use than others.

3. Regularly make financial projections to assess your business’ potential long term performance

Financial projections allow you to see how your business may perform in 3 months, 6 months, 12 months and 24 months time if your business continues to perform as expected. If your business’ financial projections disappoint you, simply try to come up with changes to your business plans that will allow you to substantially increase your business’ projected profit and revenue.

4. If your business requires more capital, consider taking a temporary pay cut

If your business requires more capital in order to take your business to the next level and to help your business to expand, potentially into new markets, it may be worth taking a temporary pay cut in order to pour part of your salary into your business. Remember that when you invest in your business, you invest in your own financial future and well being!

5. Considering hiring virtual assistants for your business in order to help keep your operating costs low

It’s well worth hiring virtual assistants to take care of your extra business tasks instead of traditional employees as you don’t have to pay contracted virtual assistants benefits and don’t have to provide office space for virtual assistants. Best of all virtual assistants are usually pretty affordably priced.

6. Make sure that you’re paying a fair interest rate on any business loans which you may be paying off

It’s well worth negotiating a lower interest rate on your business loan by agreeing to pay off your business loans faster than you projected.

If you use the six business and finance listed tips listed above to your advantage you should be able to take control of your business’ finances!

How to Build Your Business Online

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In order to learn how to successfully build an online business empire, just continue reading to discover a simple guide to running an online business!

How to build your business online:

1. Jot down what you like about your favorite websites to shop at

In order to learn how to build a successful website for your business, take note of some of the main reasons why you enjoy shopping at certain websites. As there may be traits that your favorite online shops share, which you’ll be able to use to design your business’ website.

As an example, you may notice that your favorite websites all offer free shipping or that your top visited online stores all boast great membership programs. Which reward clients for repeat business. If so, make sure that your business offers free shipping and an attractive membership program.

2. Make sure that your business has a presence on as many social media sites as possible

Ideally, your business should have a professional presence on a variety of popular social media platforms such as Twitter, Instagram, Facebook, Snapchat and Pinterest.

3. Consider paying for your business’ ads to appear on social media platforms

Not only should your business have its own pages on each social media platform but you should also consider paying for your business’ ads to appear on your target audience’s newsfeeds. Especially as websites such as Facebook have implemented special algorithms which can find the ideal potential customers for your business.

Better yet, have absolutely nothing to lose as if Facebook ads don’t work for your business, you’ll be able to stop paying for your ads to be displayed on people’s Facebook newsfeeds.

4. Provide your customers with great customer service

Just because your business may not have a physical storefront, doesn’t mean that you shouldn’t strive to provide your customers with an exemplary level of customer service. In fact, as people are far less wary of online stores which don’t have a physical store, it’s actually critical to ensure that your customer service team treat each of your customers like a VIP. In order to win over your customers’ trust and loyalty.

Remember that if your customers have a positive experience with your customer service team, they’ll be likely to rave about your business to their friends and family members. While if your customers have negative experiences with your business, they’ll be quick to post highly negative reviews about your business online.

Which can really damage your business’ image as most individuals research new online business before they choose to make their first order with a new brand. Especially a brand that only exists online.

5. Consider getting social media influencers and bloggers to promote your products

As an example, you may want to pay for a Youtube star to review your product in a sponsored video in order to expose your business and its products and services to an audience of millions. Many of whom will shop with your business if they believe that their favorite Youtube star uses your business’ products or services!

If you follow the five tips listed above, you should have no trouble founding your online business empire.

How To Stay Fit While You’re Traveling For Business

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If you travel on a frequent basis for business, continue reading to discover how to remain fit and healthy.

How to stay fit while you’re traveling for business:

1. Research possible hiking trails and running trails to explore in advance

Before you leave home to visit a new destination, make sure to take a bit of time out to research some hiking trails and running trails, which you may want to explore on your next trip. As not only will you be sure to elevate your heart rate and burn calories but you’ll also get to kill two birds with one stone and to explore more of the city which you’re visiting. Including gorgeous national parks, forests, and beaches.

If you map out a few trails to explore before you leave for your trip, you’ll be far more likely to actually lace up your running shoes or hiking boots for an outdoor-focused adventure, when you arrive at your destination.

The best time to fit a workout into your schedule, if you plan on traveling for business is first thing in the morning, when you have plenty of energy.

2. Complete HIT workouts in a local park or at a picturesque beach

If you’d prefer to spend as much time on your trip outdoors, rather than in a sterile hotel gym, you can also opt to complete HIT workouts which you’ll be able to download as apps to your phone or watch on Youtube in scenic locations. Such as a local park or a picturesque beach.

3. Be mindful of the foods which you’re consuming

Despite their best intentions a lot of individuals end up gaining weight when they travel as they stop following a healthy diet and indulge in too many unhealthy meals. While part of the fun of traveling is getting to try new and unusual cuisines it’s well worth trying to keep a balance and trying to consume at least 2 healthy, nutritionally balanced meals per day.

4. Research restaurants and cafes which are health-focused before you depart on your next trip

If you want to be able to stick to your diet whilst still getting to eat out and enjoy local cuisine, simply research a few healthy cafes and restaurants in your chosen destination to visit.

5. Book exciting active adventures which are sure to get your heart racing

Instead of spending your vacations relaxing on a beach, make sure to book at least a few active adventures which will help you maintain your current level of fitness, whilst you’re traveling the world. As an example, you’ll be able to burn plenty of calories if you book a surfing lesson or hire a stand-up paddleboard to explore a hidden cove.

6. Walk to some of your business meetings

Instead of hiring a cab to get from a to b, book a centrally located hotel and make an effort to walk to some of your business meetings. However, if you plan on visiting a hot or humid destination, you may want to skip this particular tip!

So if you’re focused on being able to maintain your current level of fitness whilst traveling for business, it’s definitely worth following the fitness tips mentioned above.

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