One of the main goals for any business, or the business owner, is to stay ahead of competitors. More than likely you are not the only business within your niche, and you have other companies vying for customers. If you aren’t careful, these businesses will get ahead of you, and before long you’ll be falling behind. To keep this from happening, there are a few strategies that you can employ.
When You are Ready to Expand into New Markets – Here is Your Guide
A Guide for Businesses that are Considering New Market Expansions
Author Thomas L. Friedman (The World is Flat, 2005), has produced an intriguing look at economic globalization in the 21st century and its potential for huge trade expansion, outsourcing, as well as impact on business practices and raising millions of people out of poverty. Continue reading “A Comprehensive Guide to Business Expansion into New Markets”
Unless you have spent the last week on the dark side of the moon, you know that Mr. Trump has latched on to one of his favorite issues – trade. With that, he has pushed through new tariffs on aluminum and steel despite the warning from members of his own party and from leaders around the world.
Continue reading “Will Trump Tariffs Harm Small Businesses?”
If you’re attempting to establish a reputation for your business, there are an incredible number of details that you have to pay attention to. Some are more important than others, however. And that’s why you have to make a list of what these particular action items are, and keep them as high priorities throughout your business endeavors. Continue reading “Vital Details To Establish Your Retail Business’s Reputation”
‘I’ll try again next year,’ and other phrases characterize most of our attitudes towards New Year’s resolutions. By February, most of us are back to our previous year’s habits with a tinge of guilt that slowly fades as the year progresses. If you’re among said demographic, it’s not entirely your fault; we are creatures of habit, making change very hard. Continue reading “How to Achieve Your New Year’s Resolutions”
For parents, their child always remains a kid even when they have grown up to be responsible adults. However, keeping emotional ties aside, it is the duty of every parent to teach their child to be responsible. While parents want to ensure that they offer the best of everything to their kid, it is also their unsaid duty to raise financially responsible children.
From a very young age, children tend to pick up a lot simply by observing their elders. Hence, parents need to put in extra efforts to ensure that their teenager child is financially responsible.
Tips to inculcate financial responsibility amongst teenagers
Teenagers are usually burdened with school work, sports, and extracurricular activities,but what affects them most is peer pressure. Before they start comparing and make attempts to match their lifestyles with their friends, it is important to teach them finances. Helping your child manage his/her ownmoney is the biggest financial planning lesson you mayimpart.
- Share financial responsibilities
One of the most important aspects is for teenagers to understand the value of money. The sooner they understand, the better they will manage their finances. Teenagers often tend to ask for monthly pocket money from their parents. Fix a certain amount. Do not provide an additional sum, even if they are penniless by the end of the month. Being strict at this stage will go a long way.They need to know that it is not an unlimited resource and should not be wasted. By sharing financial responsibilities with teenagers, you will give them the freedom to spend on what they can afford and what they consider important. This will indirectly help them curb overspending. If your child overspends in a particular month, he/she will learn not to repeat the same in future.
- Do not be overprotective
Every individual learns from his mistakes, and so will your child.Do not run to cover up for his/herblunders. If they make wrong decisions with their money, let them help themselves to come out of the situation. Do not pay off their credit card balance for them. You can always guide them and help them in financial planning to manage their expenses, but do not handhold them in every instance. This is because if they know that you are there as a last resort, they might repeat the mistake in future.
- Set the right example early in life
Children learn from their parents and it is your responsibility to bea good example for them. If you are someone who makes quick decisions and overspends, your child will do the same. If you are someone who saves a certain percentage of your income each month, your child will learn from it and follow your footsteps. Inculcate the habit of saving in your child and teach them the importance of investing right. Include them in your financial decisions so that they are able to learn about the best investment options. Take them out shopping with you and restrict to a budget or let them go shopping for themselves, but ask them to stick to a limit.
- Encourage them to get a job
Children in their late teens usually look for part-time jobs during summer breaks or post-exam vacations. Encourage them to do the same as this will not only give them a practical approach to life, but will also help them utilize their time productively. Do assist them in managing their wages. Their initial wages may not be very high; this will compel them to save money and invest. This way, they will not overspend or take a debt that is difficult to repay.
Once your children begin to earn, you need to bring financial discipline in their life and teach them to save money. You can help them choose the best investment options and inculcate the habit of investment in high-return assets. Teenagers might not be able to understand the importance of investing initially, but at a later stage, they will be thankful for the steps they took. If they know that financial planning has helped you and your family in the long run,they will adopt the same approach in their life.
The Angel Wealth mobile application is an ideal tool for your child. It has an ARQ investment engine that functions on algorithms and offers customized investment recommendations to you. It is free of human biasand will offerthe right investment options to your child. Download the user-friendly app today and let your child start investing.
There are many theories and propositions as to what keeps an employee productive. At the end of it all, one can pinpoint three umbrella factors: direction, role, and purpose. When employees know where the company is heading, what they can do to help, and why they’re doing their work, they have more motivation to work. Continue reading “Management Strategies That Improve Employee Productivity”
Every business enters a significant upwards growth curve at some point and then begins to notice things tapering off. For business owners this is a scary prospect because you never know if the slowing growth will be a sustainable pattern which could eventually lead to a reduction in revenues or if it’s a short-term lack of interest in the product offering.
The demands being made by the EU on the amount of money that UK has to pay on departure is the least of the woe story stemming from the initiation of Brexit. Economists have been divided as to the impact but the decline in the value of the pound sterling in the wake of the event is evident. Continue reading “The Effects of Brexit may be Ominous but Don’t let it Stop You from starting your own business”
With the volatile economic climate of 2017, and a number of surprising election results, the prospect of making money on the stock markets is becoming increasingly attractive to a wide range of people. However, getting involved in forex trading can be easier said than done. Without an easy to use forex trading platform and a number of tools to help you along the way, it’s likely you will struggle. In this article, we’re going to take a look at some of the points to consider when choosing a forex trading platform as a beginner. Continue reading “How to Choose a Forex Trading Platform”
The beginning of a Trump administration in the US has weakened the strength of the US dollar against other major currencies. The global financial markets have reacted badly to the divisive news of Trump’s travel ban, which in turn has pushed up the price of gold. Continue reading “US Political Instability Affecting Gold Prices”
You might feel fulfilled in the workplace because you contribute to your industry and your company, but sometimes professionals want to do more. If you’re interested in benefiting your community and people in need, you can use your expertise in the nonprofit world. Following are four ways business professionals can give back to others. Continue reading “How to Contribute to the Community”