01 Jul 2019
New Image 12

Piggy Bank

Saving the Pennys |GETTY

Building a business in the modern world can be hard due to the fierce competition in all industries. This competition often forces small-scale businesses, who lack funding, to shut down. We all know the commonly told statistic that around 90% of startup companies fail within their first few years. Although this may sound daunting, it does not mean that all innovators need to abandon their business dreams – quite the opposite really. Those individuals who are interested in the business world simply need to understand how much it costs to start up a business. By knowing the relative costs, they will be able to spend their money wisely and hopefully turnover more profits. This, in turn, ought to allow them to survive in this harsh business climate. Quite often we see businesses failing as they have failed to pay attention to the finer details. As such, I would like to explore the costs of these finer details which, more often than not, can determine the success or failure of a newly founded firm.

The first thing that any startup business will need is a good website and domain. A website enables you to provide a source of information about your company which is easily accessible for potential consumers. Moreover, a website is easily shareable therefore meaning that it can enable your business to gain more attention from all around the world. Quite often we see websites being created by Web Designers – individuals who specialize in creating attractive websites. These individuals are responsible for setting up, designing, building and maintaining your website. The best thing about such individuals is that they can give you a unique design which will make your website stand out. The downside is, however, that they can be quite expensive which can make life tough for startup business owners. According to Website Builder Expert, a web designer has the potential to charge you around $7000 in your first year, however in my experience a decent website for a start up is around £750-1500.

Alternatively, you may decide to use a website builder which is far cheaper. These sites offer you templates from which you can build your website and organise your content as you so please. The issue here is that you will be required to do more work, and your website could come across as far more generic and potentially less professional. Nonetheless, it could be a good strategy for individuals that are interested in bootstrapping in order to save as much money as possible and get the business going.

To read the full article, please click the following link below

https://www.forbes.com/sites/biancamillercole/2019/07/01/how-much-does-it-cost-to-start-a-business/#3796a3137193

25 Jun 2019

This month, as you know, I am looking at finance and how it affects various facets of our lives. Today, we look at how a new study from Barclaycard, which processes nearly half of the nation’s credit and debit card transactions, illustrates how our access to imports and public transport infrastructure could potentially affect our finances and hinder U.K. business growth.

Businesses that are scaling up are a key contributor to the country’s economic success. According to the ScaleUp Institute, a pool of fewer than 37,000 scale-ups currently contribute more than £1.3 trillion to the U.K. economy. To put this in context, the combined annual turnover of the U.K.’s 5.7 million SMEs is £1.9 trillion. As usual, with new analysis comes opportunities, challenges and learnings for businesses to heed for the benefit of the wider economic landscape.

 

Cargo dock with a lot of containers. Cargo dock with blue sky. Industrial world map icon symbol.

Cargo dock with a lot of containers. Cargo dock with blue sky. Industrial world map icon symbol.  GETTY

With the majority of business leaders believing that they should trade overseas to secure growth, it is no wonder that this new analysis demonstrating the importance of access to imports and good public transport infrastructure is a cause for concern.

Public Transport

The study, carried out by the Centre for Economics and Business Research (Cebr), found that a one percentage point increase in public transport use would result in 1,400 more businesses being able to scale over a 12-month period. A good public transport system means scale-ups can access talent based further away from their company’s offices, and with Wi-Fi increasingly available on public transport, this commuting time can be used productively.

 

To read the full article please click the following link: https://www.forbes.com/sites/biancamillercole/2019/06/24/2-issues-affecting-your-businesses-profitability-barriers-to-imports-and-poor-public-transport/#78c210cd7007

20 Jun 2019

Career success does not fall from the sky. Those who wish to move up the career ladder must not only take advantage of activities that drive recognition, they must also internalize a few principles that will enable them to take their career destiny into their own hands. Continue reading to find out more…

Soured from 'RawPixel' on Unsplash

Soured from ‘RawPixel’ on Unsplash

PHOTO BY MARKUS SPISKE ON UNSPLASH

“What are you doing professionally?” – “Do you enjoy your area of work?” – “Where do you see yourself in five years time?” No doubt, these are a few the most frequently asked questions in our professional lives. Regardless of what industry you work in, be it hospitality, finance, consultancy, or manufacturing, to head any organisation, no matter the industry, you must work hard to get there.

Be a Boss

For many employees, the thought of being a boss can be both overwhelming and fulfilling. On the one hand, the rewards are very attractive. However, on the other hand, the responsibility for the day to day operations and decision-making lies solely on them. This is the reason why many employees who find themselves in leadership positions often become very rigid and authoritative.

However, a good boss understands the importance of treating your team with the same respect as that of a customer. You will then be in a better position to make sound and well-informed decisions for the interest of both the staff and customers. Effective, long-lasting relationships can only be built on mutual respect.

Practice Delegation

The day to day practice of delegation can be a tough nut to crack. The issue of trust is crucial to the success of any organisation, and as both an employee and colleague, the task is to encourage healthy relationships built on honesty. By delegating tasks with constructive criticisms, your team will not only begin to trust you but will also to be more efficient when delivering work.

 

Understanding

“Even the geniuses still ask questions.” Yes, this is true. Never stop asking questions for further your understanding and knowledge of the company’s services, products or any other vital information that can assist with your career. This can improve your attitude towards solving problems and contributing immensely to the organisation’s development. Engaging with staff across the whole organisation will be of immense benefit to both you and the company in the long term.

You can read the full article by clicking the link here: https://www.forbes.com/sites/biancamillercole/2018/12/13/top-tips-to-reach-the-top-of-your-organisation/#6a507fdd6f17

17 Jun 2019

When branding, the process should never be rushed. The duration required for branding or rebranding is often affected by various factors such as how much time your company has, the people involved, your total budget, the resources and brand assets your company will need, your company’s size and future goals. Continue reading to find out how branding processes work.

Sourced from RawPixel on Unsplash

Sourced from RawPixel on Unsplash ‘RAWPIXEL’ FROM UNSPLASH

In the world of business, many top executives find it difficult to see the tangible benefits branding offers to their business. For this reason, they often write off branding as not essential and too confusing to understand. However, the absence of a brand strategy can be detrimental to your business, no matter the scale. Branding as an entity gives your company an identified purpose which helps you stand out from the competition in the long run.

Pioneers Vs Followers

For many startups, branding may take some months or even years to implement. This often depends on if your business is more of a ‘pioneer’ or a ‘follower’. For ‘followers’ the branding time can be shortened if the focus is placed on capitalizing on an existing trend or product.

Branding pioneers, on the other hand, often focus on creating unique products from scratch that are often an improvement on traditional products, offering better value to their target audience. The need for innovation causes their branding process to take a great deal of time.

As pioneers focus on developing entirely new ideas or trends, their process of branding requires a great deal of vision that has been coupled with the ability to identify the exact needs of consumers. This often involves endless trials to ensure that whatever they produce attends to the needs of their target audience. This is achieved not just by adding to the value of existing products but creating entirely new ones.

Whether you are a pioneer or a follower, if you are looking to increase brand awareness, but not sure of the right branding process to follow, the following steps can help;

Build a Strategy

So what exactly is a brand strategy? To achieve specific objectives to create a highly successful brand, every company needs a brand strategy. To put it simply, a brand strategy could be defined as your company’s long-term development plan, and it is affected by all parts of your business.

The creation of a brand strategy is one of the most fundamental steps needed to define the foundation of your brand. In drawing this up, certain factors need to be considered. This includes your company, the target audience, the services or products you offer, as well as your existing competition. These factors not only help to create a relevant brand, but also one that offers excellent products and services that meet the specific desires of the end user.

 

To read the full article please visit: https://www.forbes.com/sites/biancamillercole/2018/12/10/how-do-branding-processes-work-and-how-long-do-they-take/#46b8b1e12452

17 Jun 2019

The rate of emerging graduates is increasing daily, making the labor market very competitive. Large numbers of applicants hustle for very limited job openings.  Find out how you can stand out from the crowd.

'The Boss' by Hunters Race, Sourced from Unsplash

‘The Boss’ by Hunters Race, Sourced from Unsplash ‘THE BOSS’ BY HUNTERS RACE

Unemployment is a global issue; many countries are working round the clock to see how the demands in employment for their ever-increasing population are being met.

The good news is that the advancement of digital technology is a significant factor that has decreased the rate of unemployment in advanced countries. If you live in a country with a large number of highly qualified individuals, these few ways will help you stand out in your quest for your desired career.

1. Engage in voluntary work

An advantageous way of increasing your chances of getting employed is to develop your curriculum vitae while still in education. Ensure you engage in voluntary work experience to develop skills in your field of study. As almost all job recruiters request experience, no matter how short the period may be, engaging in voluntary work gives you an edge over those applying for the same position.

Additionally, participating in student activities such as student unions or departmental/ faculty projects or research is a big step in the right direction. Create projects that render services to the public in areas like facilities, labs, and restaurants and other related sectors. Or you can even be involved in student clubs and student development projects like tutoring and mentoring in your field of study.

2. Write a perfect CV or resume

Your CV is the first window where you show your potential employer your qualifications. The first interview also starts with a CV assessment. So, be sure to include vital information about your skills, career, research and work experience. Review your CV regularly to add new skills acquired. It should also carry the corresponding date when a certificate, degree or job experience was obtained.

To read the full article, please click the full link below https://www.forbes.com/sites/biancamillercole/2018/12/05/10-ways-to-stand-out-in-a-very-competitive-job-market/#6a54220bd7a2
17 Jun 2019

Spending on brand marketing and public relations is not always easy to estimate. In addition, sales promotion and costing are not necessarily the classic core competencies of many business owners, as many come from backgrounds that have nothing to do with business administration. Therefore, when creating a brand strategy on a budget, there are many resources that can be utilized for success.

5 pounds sourced from Unsplash

5 pounds sourced from Unsplash PHILIP VEATER VIA UNSPLASH

 

It’s no doubt that many business owners want to spend as little money as possible on brand development, especially those that are startups. This may be due to financial restraints that make budget planning a challenge. But how do you set up a well-rounded brand marketing plan and budget quickly and efficiently? If you are running a branding campaign with a low budget, these are some of the tips that will help pull your business along a financially safe path.

1. Be Resourceful

Resourcefulness is the ability to find a way to achieve your goals when a little direction is available. It requires finding quick and clever ways to overcome difficulties. To market your brand, you need to be resourceful, and you will also require the self-discipline to give you the belief that you can achieve great success.

Seek ways of identifying and overcoming obstacles and challenges within your organization. Use your resourceful skills to create innovative solutions in getting deals, gaining followers and growing sales to move your company forward. Resourceful people ask themselves the following questions:

Do I use the resources at my disposal?

Do I use the resources within or around my organization to find ways to succeed when there are shortcomings?

Do I see obstacles or setbacks and take them as mere temporal challenges?

How do I employ resourcefulness in tackling these obstacles?

2. Understand Yourself

The basic concept of branding is having a proper understanding of yourself and focusing such understanding towards developing your brand. You are a vital part of your branding strategy. The better you understand your value, goals, visions, the better the chances of your branding coming out successful. Your brand speaks better of you, so try to discover what drives you and gives you the inspiration to come up with ideas that are unique and worth introducing to the global market.

The process of making your brand stand out from other brands in your line of service should be taken into serious consideration, as you have many others to compete with.

3. Your Business Needs Good Branding

Your brand should be unique and outstanding, yet very simple and should encompass choosing a unique name, logo or slogan. Marketing your brand doesn’t mean you need to invest with a huge sum of money.

Good branding means giving your customers a finished product that will make them to further their interest in the business.

One very important part of branding is the logo. The logo is the facial identity of your product. It speaks about your product and is the visual representation of your business. It should be unique and be able to convey a message about your product. Logos can be created personally to save cost of employing a professional.

 

To read the rest of the article, please visit https://www.forbes.com/sites/biancamillercole/2018/11/23/how-any-business-can-improve-their-branding-strategy-on-a-low-budget/#78b5755fcd95

17 Jun 2019

In the world of business and marketing, branding is critical for keeping your company relevant. That’s why it helps to know and understand critical brand terminologies and why they are important.

'time to work' sourced from Unsplash

‘time to work’ sourced from Unsplash LILY RUM-@RUMANDRAISIN

Without a doubt, everyone seeks to create a cool well-known and highly reputable brand. In this article, we will be looking at a few brand terminologies from A-Z, these are terms that every business must familiarize themselves with. These terms will help you to understand how business owners develop brands and how they, as a company can best market themselves to their target audience.

Ambassador

Anyone employed to represent or be the ‘face of your company’ is your brand ambassador. This person can be an employee within the company or may be an executive, social media influencer, customer representative or a salesperson.

Brand

There are many understandings about the term ‘brand’ but simply put, a brand can be explained as the combination of visible and intangible features to influence a specific group or create value for said audience. Companies use branding attributes such as logos, marks, names or phrases to make their products or services stand out from all others existing in the market.

Branding

With foreknowledge of what a brand is, branding could be said to be the process where the image of a business is unearthed and communicated to its target audience.

Brand Experience

The image imprinted on the minds of people invested in a company is known as the brand experience. There are two primary forms of experiences created in the mind of stakeholders: the uncontrolled and the controlled. The uncontrolled environment comprises of comments from the media and verbal communication from one customer to another. Some controlled experiences exist on websites, through advertising, from the use of products/services and the retail environment.

To read the full article please visit https://www.forbes.com/sites/biancamillercole/2018/11/20/the-most-important-branding-terms-you-should-know-about/#1df3cda65d4d

29 May 2019

Ten of the most important skills that form a highly effective leader. Are you a born leader or do you need to adapt your skill set to get ahead? How can you nurture your team to perform and deliver efficiently? Continue reading to find out more.

Leaders Lead

Leaders Lead

PHOTO BY MARKUS SPISKE ON UNSPLASH

People often see leadership as a trait rather than what could be acquired or achieved. As the saying goes “not all are born to rule or lead”. This has instilled the misconception that the attributes of effective leadership are for only those born with “silver spoons”.  By choice, hierarchy, position or by endorsement, an individual will find him/herself in the position to lead at a particular time or stage in his or her lifetime. Whether you aspire to be a manager at work, an entrepreneur, or even as a parent, you need to possess these essential habits to lead your followers effectively.

    1. Formidability

According to the saying, ‘dress the way they want to be addressed’, in the same way, an effective leader should carry the quality of being outstanding in their personality to gain the desired respect. Good leaders are often distinguishable and set positive examples in every aspect of leadership.

The self-consciousness of being professional in the way you carry out your daily tasks will earn you confidence from the people you lead. Your principles, views, actions and relationships with people should be distinguished. You will need to execute plans or skills with dexterity and prudence.

 

  1. Effective communication

As Winston Churchill once said, “The nation will find it very hard to look up to the leaders who are keeping their ears to the ground.” Thus effective leaders should always carry great interpersonal skills. Leadership entails communication. Not just speaking, but any good relationship should be mutual enough to allow for both speaking and listening. What effect is communication, if it only involves speaking?  A good leader should create avenues to listen to the people he or she leads.

  1. Strong charisma

A strong presence of your personality, the charm that revolves around your aura inspires other people around you. It can be labelled as a personal magnetism that attracts people of both ordinary and great personalities. It is the force that draws fans to musicians, loyalists to great leaders, business partners to business magnates. And it inspires followers or employees to unite together in a common pursuit of goals.

 

To read the full article click the forbes link here: https://www.forbes.com/sites/biancamillercole/2018/12/21/the-top-10-skills-you-require-to-be-a-highly-effective-leader/#1814eb945c45

29 May 2019

Having success in life largely depends on the habits that you repeatedly engage in, which ultimately shape your life. Want to find out the most powerful habits that will change your life? Continue reading.

Businessman meditates with enlightenment data reports and financial concept

Businessman meditates with enlightenment data reports and financial concept

GETTY

Your habits will either make or break your existence as it directly affects your source of happiness and success. Some habits are more powerful than others and simply put; your everyday habits determine your attitude and future progress both in life and in your career. The following are ten powerful habits that will improve your life and career direction.

    1. Practice Meditation

Meditation is a powerful habit that trains your mind to relax by freeing it from negative or stressful thoughts. It not only cleanses your mind and promotes a sense of calm, but it also assists with reducing stress; one of the major causes sleep deprivation and fatigue. When you meditate, you also increase your cognitive and creative thinking skills which make you highly efficient in your career. Thus, the temptation to engage in other harmful habits such as smoking, excessive alcohol intake and gambling is significantly reduced. In summary, meditation will keep you healthy and improve your performance in every aspect of your daily life.

  1. Practice Gratitude

Often overlooked, gratitude is a powerful practice that brings enormous changes to your life and career. Generally, in our lives and careers, a positive and grateful attitude unlocks opportunities for personal and professional growth. A simple “thank you” makes you seem more friendly, attractive and trustworthy to others.

The regular practice of gratitude enhances your psychological health by reducing toxic emotions such as acrimony, thereby increasing your levels of happiness day in, day out. You will eventually start feeling more resilient to traumatic and stressful events, with a reduced temptation to react, thus helping you make better decisions.

  1. Self Motivation

In simpler terms, self-motivation is the ability to stay motivated for one’s own interest. It is a key ingredient to living a successful life as it allows you to discover your strengths and weaknesses by which you can fortify the former and overcome the latter. Self-motivation also allows you to become more independent from external factors and you go about in achieving your goals based on your abilities.

With regular practice, you will experience more self-discipline in your everyday life as you are able to control your thoughts and actions which bring out your best attributes. You will be able to stay focused on your goals and accomplish them effectively.

 

To read the rest of the article please click the link: https://www.forbes.com/sites/biancamillercole/2019/03/18/ten-powerful-habits-that-will-change-your-life-and-career/#4274c01f1082

29 May 2019

Looking to be the “best you” in your personal and professional life?

Some daily lifestyle habits obstruct the process of getting to the peak of our careers. These lifestyle choices need to be replaced with new ones and trained to guarantee a clear path to the success you desire in your career. The following are nine essential changes that you need to fit into your lifestyle to ensure a successful career.

Photo by Brook Lark Sourced from Unsplash

Photo by Brook Lark Sourced from Unsplash

BROOK LARK

 

Some daily lifestyle habits obstruct the process of getting to the peak of our careers. These lifestyle choices need to be replaced with new ones and trained to guarantee a clear path to the success you desire in your career. The following are nine essential changes that you need to fit into your lifestyle to ensure a successful career.

1. Have self-confidence

Self-confidence is the necessary foundation for having a successful career, and the ability to believe in yourself is what separates a good career from a mediocre one. It is common for individuals who lack the required confidence to have stagnant jobs.

Having confidence in yourself gives you the freedom to find creative and effective solutions and opportunities that have a positive impact on your career. You can take steps for building your self-confidence by challenging yourself and constructing positive evaluations of what you represent as an individual.

2. Invest in yourself

The more you invest in yourself, the greater the dividends. Investing in yourself opens up limitless opportunities which bring a certain level of satisfaction while guaranteeing you success. When you invest in yourself, you develop your skills and ideas which make you more valuable and give you the capacity to achieve greater heights. Failure to improve ourselves makes it unlikely to achieve a different outcome in the future because we still remain unchanged.

Advancing your education by getting relevant degrees and certifications, expanding your knowledge through extensive reading, exploring your creative side by learning a new skill are ways you can invest in yourself to get the successful career you desire.

3. Set long-term goals

In any field of work, it is very easy to lose focus when you fail to lay down the goals you wish to achieve within a period of time. Setting long-term goals provides direction, committing you on the task ahead. However, to meet your goals, it is essential to be specific about what you really want to achieve, as it enables you to measure your progress easily. Also, long-term goals are easily achievable when broken down into smaller goals, which allow you to tackle the tasks gradually.

 

To Read the full Forbes Article, please use the link: https://www.forbes.com/sites/biancamillercole/2018/12/05/nine-lifestyle-changes-for-a-successful-career/#4924d3cb51a9