Business Proposal Outline for All Businesses

Whether you are writing a business proposal, a news article or a novel, a proper outline is extremely important.

It helps you to bring a proper structure to the main concept and then you can add to it.

A business proposal is one of the most important parts of any written text, be it a short composition or a major work of literature.

It would not be wrong to say that often this is your first initiative towards gathering your thoughts, taking forward a plan with constructive strategy going forward.

So even while you are writing a proposal for your enterprise, the business proposal outline is a very crucial element in the entire scheme of things.

Often the final shape of your business proposal is very closely linked to how effective the outline is?

This is because when you proceed along an outline, you are more or less sure of moving along a set structure and more prone to follow a format that can interest investors and various lenders.

What Are the Key Components of a Business Proposal Outline?

Here is the list of the most important components of a strong business proposal outline:

  1. Executive Summary
  2. A Brief Overview
  3. Taking a Realistic Industry View-In-Depth Analysis
  4. Customer
  5. Gauging the Competition
  6. Marketing Strategy

While there can be some exceptions, a typical business proposal would have at least ten primary sections in its outline.

In addition, there are 23 sub-sections too.

It is needless to mention that once you get these various sections and subsections in place, filing then up and completing the entire business proposal does not take a very long time.

You have only to create content in accordance with the section.

And you would have the entire proposal ready in a matter of hours.

1. Executive Summary:

Executive Summary

This is primarily the first part of any well-formatted business proposal.

Often it is known as the essential window to the entire proposal.

If the readers do not like the executive summary, it is unlikely they would get past the rest of the plan properly.

It is more like a window to the entire business proposal.

Therefore it becomes a rather significant part of the business proposal.

Your outline too needs to, therefore, provide for it in an appropriate manner.

This will make sure that all key elements are touched upon.

And the core summary of the proposal is not compromised with.

Ideally, you can look at starting the executive summary with a precise and clear explanation of the company’s essential business plan.

Now refer to the RFP and try to understand the core essence of the client’s problem.

Now try to explain how your business seeks to address this problem and why you should bag the order.

List out the various competencies in your executive summary like:

  1. Some unique features of the management elements in your company
  2. In case you have important patents
  3. In case you have the first mover’s advantage in the market, do no forget to highlight that

The ending of the executive summary also needs to be equally impactful.

Put up the entire financial estimates list.

From expected revenue to the profit projections, this is the most prominent place in the entire business proposal to highlight the financial viability and broad professional worth of the overall business model.

In case, you are seeking any specific funding requirement over the next few years.

This is the right forum to raise the subject.

Be clear in your estimates, projection and requirement.

This will convince the client about the financial viability of the claim that you are putting up as well.

2. A Brief Overview:

A Brief Overview

The second most important element of a business proposal outline is decidedly an overview of the company and its business fundamentals.

You can detail out a broad history of your company, how it was conceptualized, how it came into being and the primary highlights in terms of the key achievements of the enterprise thus far.

This is also the exact spot in the entire business proposal to specify the kind of legal standing that the company might have.

Especially the past accomplishments of your company are of great importance.

This gives a fair idea to the client about the business worthiness of your establishment.

This also makes sure that the potential for your future success is closely associated with the kind of success that you have experienced in the past.

The client also gets a realistic view about the kind of value addition that your induction in their team can mean.

3. Taking a Realistic Industry View-In-Depth Analysis:

Taking a Realistic Industry View-In-Depth Analysis

We move from specific to generic in the next lap of business proposal outline.

You must realize that the outline is created to make sure that the content of the business proposal is as comprehensive as possible without unnecessarily making it too boring or unusually long.

The importance of industry analysis is also relevant to draw inferences about industry-specific growth parameters.

It is also relevant to and where your business enterprise stands in comparison to the competition.

Now this industry analysis can be divided into two sub-parts.

They address completely different aspects of industry dynamics.

But they are also an integral part of the overall analysis of business worthiness of a specific concept that you might be presenting to your client.

– Market Analysis:

In this subsection, you present the key market dynamics that business operates in.

In any business proposal outline, this is a key sub-sect that helps the client understand the kind of market dynamics that the company operates in.

It specifies the key size and the unique characteristics of the market that the business operates in, the primary factors that decide the sectoral performance and the parameters that decide the overall success rate of the business.

This will also give your client a fair idea of the market trends that need to be kept in mind while deciding a business strategy.

For example, if you are a publisher, you would include these:

  • Details like the business prospects of the publishing industry in your area.
  • The average turnover of the entire publishing business.
  • The number of books that you publish every year.
  • The number of books published by the industry in general.

– The size of the Market:

The next key ponderable is, of course, the market size that you operate in.

There are many reasons why it forms an almost indispensable part of any business proposal outline.

It gives the client an understanding about the maximum revenue that your company could generate, if it had 100% share and also the maximum amount of customers that you can target at any given point of time.

All these form an extremely crucial list of considerations that you must take into account when deciding on the business opportunity that a particular enterprise presents itself.

4. Customer:

We Love Our Customers.

When you are putting together a business proposal, the next key factor to take into consideration is undeniably the kind of customers that you can aspire to garner for your business.

Apart from the market, the customers are the next most important consideration for any business proposition.

It helps you identify the viability of the business proposal that you might be floating and gives you a realistic view of the kind of profitability that you can target overall.

So you must make sure that you include a subsection about the target customers.

This is the fundamental law of any business.

It is not just sufficient to float a business idea.

It is also important to understand the kind of people who would be ready to buy your offering.

You should also know the maximum number of people who would actually understand or appreciate the need for the product/service that the business is offering.

This is important for the client to whom you are presenting your business proposal.

This is because it gives the client a fair idea about the potential scalability aspect of the business and also the demographic dynamics that the customer profile presents.

You must understand that both demand and scalability of a business is closely related to the relative demand-supply matrix.

This is why your business profile outline almost makes it mandatory to include details about why the target customers need your product offerings and how you can offer them a reasonably good quality of product and service.

Reliability, comfort, business viability are all interlinked with this key question of customer need and demand dynamics.

As a result, it is important to highlight the advantage that you have vis-a-vis addressing customer demand.

This can convince the client, not just for the demand profile for your product, but also the relative profit prospect and the viability of associating with you to address their problem.

Your customer reach can sometimes even indicate your troubleshooting abilities as an enterprise and the kind of good will that you will be able to generate or that you already enjoy.

5. Gauging the Competition:

Gauging the Competition

Now why does competition figure in your business proposal outline?

Well, that is because when you are taking into account the complete business prospects, competition and how you fare in comparison forms a very important part of the game plan.

A huge range of business dynamics come into play, and the way you can tackle competition also goes on to identify the profitability element for future.

But competition is not uni-dimensional.

There are many aspects to this entire competition aspect.

There could be some direct factors and other indirect contributors to the overall competition elements.

Here is a detailed study of the various competition parameters that you must take into account:

– Direct Competition:

This is the place where you have to list out the potential companies which offer direct competition to you.

Essentially they cater to the same set of customers that you are catering to and probably offering the same gamut of services that you might be specializing in.

An example of this could be P&G and Unilever.

On a global basis, their product range is similar; they are also addressing a similar set of customers.

But the fact that they are still sustaining as strong brands individually across geographies highlight their competition strategy.

In the same way, your business proposal outline needs to include the strategy that you are employing to tackle this type of direct competition.

Also, outline the relative strengths and weaknesses of your competitors and how you fare vis a vis them.

– Indirect Competition:

Direct competition is relatively easier to comprehend.

For example, if you have a grocery store, the kind of competition that you face from other grocery stores in the area.

But when I am talking of indirect competition, I mean the kind that you might be facing from a medical store next to you or an eating joint with readymade food options might present.

Your business proposal outline needs to carefully take into account these competitors and how you plan to deal with the competition.

– The Advantage over Competition:

The next key factor that you must keep in mind is how to outline your preparedness to deal with competition.

That factor alone will help convince your client about the possibility that you can book profit and also the fact that you can offer them a sustainable alternative to solve their problem.

You must clearly outline your strategy to deal with both direct and indirect competition in your business proposal.

6. Marketing Strategy:

Marketing Strategy

Marketing is one of the key pillars to base your business upon.

Therefore, it is but obvious that the business proposal outline will prominently account for this particular pointer.

You must understand that however or whatever factors you might base your business, the absence of a proper business plan can impact the overall profitability to a large extent.

In fact, the absence of a proper marketing plan can also result in severe losses in terms of inappropriate pricing and inaccurate allocation of resources that need to be kept aside for each of the separate subsection under marketing.

So what are those sub-parts of marketing that need to be highlighted in your business proposal?

They are:

– Product Pricing:

You must give details of various products and their pricing specifics.

Also, list out how your pricing stands in comparison with competitors and if you have undertaken any specific pricing move to tackle the competition.

These elements are crucial pointers in your business proposal outline and are aimed at providing a far constructive understanding of your business strategy.

It also clients better guess if you are a premium brand in the market or relatively low-cost player.

– Product Offerings:

But just pricing is not sufficient in itself.

It should be provided hand in hand with a broad outline of various products and services that you offer.

This is particularly important as the client can gauge the relative volume Vs value offering that you can generate.

This will also help them understand what kind of value addition your business manages to bring forth to you and by extension to them.

– Promotion Prospects:

Marketing is never just about the direct selling of products.

This also includes the broad outline of the promotion initiatives that you might have undertaken.

Promotion is most important as the client would need to have a fair idea about the reach of your business and how exactly do you manage to maintain or continue to have this reach.

So it could be promotion via print or television, WhatsApp direct promotion or ads that you might have created for the same purpose.

This will also help the client understand the broad promotion avenues that they can leverage through you.

– Distribution Scope:

Apart from making sure that the pricing is mutually decided and well strategized, it is important that customers can buy your products easily.

This is where the distribution element comes to play.

Are you a business that is taken forward via direct selling or do you distribute your products through local shops?

You might also have several distribution partners who would be helping you in taking your product to others.

Make sure that your business proposal outline has details of these various distribution factors.

Together all of these various elements make for a constructive business proposal outline.

They make sure that every element of your running the business is properly highlighted and the potential client gets a comprehensive understanding of the overall business dynamics.

These outline also help you gather your thoughts in a proper manner and then steer the business in a profitable manner.

As a result, when a potential client floats a RFP or account of their problems that they are looking to address, you can easily provide them with a comprehensively written business proposal.

It helps them to chart out your progress in an extremely definitive manner and enable a rather complex and complicated interaction and interpretation of the different factors that enhance the profitability of those who might hire you.

A business proposal is after all not just a mere detailing of what business you run or how you run it.

On the contrary, it helps a potential client get a ringside view of both specific business as well as the generic industry that you are looking to cater.

The Dos & Don’ts of Writing a Business Proposal Outline

However, when you are charting out a business proposal outline, there are some basic dos and don’ts that you must follow.

They not only improve the quality of the business proposal that you need to create but also help you provide a rather clear picture to the client about the business or solution that you are offering in response to their RFP.

These include some detailed as well as some rather obvious misses that we tend to make while creating a mega document.

The Dos of Business Proposal Outline:

1.  Include Several Sub-Headers:

Include Several Sub-Headers

The sub-headers do not just break the monotony of continuous text.

But in many ways, they also improve the readability of the business proposal that you are creating.

They help divide the text into many sub-parts, and even if someone glances through the document, they will be able to comprehend the broad elements of the entire proposal.

It is rather important that the sub-headers are appropriately named to attract the reader’s attention and help them continue with the text for a far longer that one would have normally done.

2. Keep a Conversational Style:

Keep a Conversational Style

The narration style also needs to be decided along with the business proposal outline.

This is because the entire purpose of the outline is to create a better and more acceptable style of documentation.

It is the quality of the outline that goes on to play a definitive role in the overall quality of the entire composition.

So a conversational style from the word go will ensure that the reader is hooked on to the document and will devote a fair amount of time and energy towards creating it and maintaining its consistency in quality and content.

3. Undertake Proper Research:

Undertake Proper Research

A business proposal outline plays a definitive role in defining the overall picture of your business.

Therefore you need to put in proper research and hard work in creating it.

This will make sure that you can dish out a quality product with a keen eye on small details and big elements altogether.

The research will help you highlight the unique aspects that your business represents.

It improves the chance of the business proposal getting accepted in the first available instance.

Just copying pasting mere template from the internet would not help you achieve quality.

You might consider that just the template for a business proposal outline cannot vary that much.

But the fact is your entire document would be based solely on this single piece of the framework that you are creating.

A sub-par work will show manifest itself.

This is exactly why you must remember that research becomes the backbone of a great outline.

The more time and energy you are able to devote, the better would be the outcome of it.

Therefore don’t waste any more time and get to work in terms of creating a great content framework.

The Don’ts of Business Proposal Outline

But there are some factors that you must take care to avoid as well.

This is because they can impact both the readability of the business proposal and profitability of the business that you are dealing in.

So what are the key avoidable while you are discussing and debating the merits and demerits of a great business plan outline?

These include many factors that can make the content boring or a rather dull read.

Here is a lowdown:

1. Avoid Repetition:

Avoid Repetition

Carefully select all the parts and sub-parts of the business proposal outline.

This is because sometimes you might create two separate sub-parts that might mean the same thing or highlight similar factors.

While you might think you are giving more information in this process, essentially this would mean that the reader will be reading the same or similar set of information twice.

That cannot make for an interesting read.

So it is very important to select your content carefully and then based on that, take a call on how and where you place it in the overall business proposal.

This way, the outline becomes a crucial factor to base a clear narrative upon.

2. Be Clear:

Be Clear

Whether you are creating the simple outline or writing the entire business proposal, it is important not to go overboard.

That can impact the relative acceptance of the proposal quite seriously and in many ways, hinder the business growth too.

It is very important that you are clear and concise in your overall approach and help maintain a focused perspective in your entire narrative.

This can also help the reader or potential client get a lot of information in a very pointed manner and without too much of effort.

The idea is the client should open your business proposal, and the fact should be all staring in front of him.

3. Don’t Just Go by a Template:

A quick search on the internet would reveal that it is never difficult to get access to a business proposal outline template.

Almost every single business variant will have a template that caters to the unique demands and possibilities offered by the specific sector.

However, that said, it is never a great idea to blindly follow a template and create your outline.

Remember that is something the client is any way expecting.

What can help is creating a unique outline that totally does justice to the business proposal that you are offering.

Business Proposal Outline Is Often the Backbone of a Great Business Proposal

Business Proposal Outline Is Often the Backbone of a Great Business Proposal

Therefore, we can conclude that the business proposal outline is often the backbone of a great business proposal.

The inaccurate or misleading construct of this framework can severely impact the acceptance of the final business proposal.

As a result, when you are creating this final product, it becomes essential to pay attention to details.

Careful detailing can often go a long way in determining the quality of the content as well as the profitability of the business going forward.

Moreover, a well chalked out business proposal outline always highlights the entrepreneur’s business senses.

Often for the client, this outline does not just represent the financial viability and mettle of the business.

It is also an important element in understanding the business sense and ability of the entrepreneur involved.

However, a cardinal rule while chalking out the business proposal outline is a thorough study of the RFP that you are responding to.

This is by far the most important factor that goes on to define the quality of the business proposal outline.

8 Human Resource Management Keys to Entrepreneurial Success

Indeed, human resource management is perhaps one of the fundamental entrepreneurial challenges that need to be addressed right at the behest.

An entrepreneur faces many challenges on the road to entrepreneurial success and overcoming them effectively is often the key to greatness.

While ideas, funding and daily running of the business efficiently are one end of the picture, the other end involves creating the condition conducive for efficient output.

By that, we mean handling the staff that is responsible for the efficient running of the firm.

The firm’s efficiency, as well as overall success, is deeply connected with this key factor.

As the entrepreneur creates an enterprise, it gradually transforms from being a one-man show to a team effort.

The entrepreneur, therefore, wears many hats.

Not only should they be able to deliver their dreams, in reality, but they also need to understand that they have to get the entire team to work with them.

So as an entrepreneur, the challenge for you is to understand that it is no longer your independent show.

The brilliance of your plan will come forth only when you are able to pass on the passion to your team, and they are able to share your ideas.

They need to be engaged continuously and bring forth a meaningful value addition to the effort that you are putting together.

And, that essentially would be effective human resource management.

What Are the Key Principles of Human Resource Management?

Here is the list of the human resource management key principles that make you a successful entrepreneur:

  1. Creating A Strong Human Resource Management Team
  2. The Right Recruitment
  3. Communicate Your Expectation Well
  4. Responsibility Allocation
  5. Respect Privacy & Confidentiality
  6. Encourage Talent & Diligence
  7. Dealing With Problematic Employees

1. Creating A Strong Human Resource Management Team

Human Resource Management TeamFirst and foremost, you need to create a strong team.

For that, you need to first and foremost make a broad plan for the overall recruitment drive.

Bringing in the right amount of staff is extremely important.

Too many people would mean chaos and too few would hinder efficiency drastically.

The first challenge is, therefore, fixing the total number of staff that you need and then go about recruiting them.

As an entrepreneur, you must understand that human resource management is all about creating a happy marriage between the requirement of the department in focus and the budget that has been allocated for staff recruitment.

You have to remember balance, just like in financial management of a company, is very important while you are trying to bring in a happy mix of efficient and talented staff.

2. The Right Recruitment

The Right RecruitmentAchieving the right recruitment mix is not just bringing in a lot of talented people.

As a keen entrepreneur, your focus has to be on getting the right person for the right job.

Here more than talent, it is important that you get a person who is well suited for the job.

Even if that means you settle for someone with lesser degrees or lesser experience, it is fine.

But while recruiting you must ensure that this person totally understands the job that is expected from him/her and is well geared to deliver it flawlessly.

One important aspect that can ensure this you have to be very clear in your overall directive about the job requirement.

People who you are interviewing must understand clearly what’s expected from them and how you want the job to be executed.

The tests that you formulate during the interview should also aim to find out the person’s adaptability to the job requirement more than the general talent.

For example, if you are looking to hire a manager, that person needs to be an excellent team leader, and it is okay to be perhaps slightly mediocre in core area expertise.

This is what will ensure effective human resource management.

4. Communicate Your Expectation Well

Communicate Your Expectation WellSo now that the team has been hired, you need to engage in effective dialogue with them.

Interact with them in a friendly but effective manner so they totally understand what your expectations are from them and how well they can work towards fulfilling your passion.

So avoid rhetoric and get to more direct and to the point speaking.

This will ensure that there is no ambiguity and the staff understands the challenges and expectations clearly.

The right understanding often yields the most appropriate solution.

When the staff you hire understand the requirement clearly, they will be able to deliver the job a lot more efficiently.

This will mean that there will be additional positivity all across the workplace… a happy you and a happy workforce would only mean a happy workplace.

While the smiles of your staff might not show on the balance sheet directly.

But they surely reflect in your overall success and precision in your output.

Thus human resource management brings in a greater degree of commitment from your staff.

And in many ways it can also address potential attrition conditions a lot better.

5. Responsibility Allocation

Responsibility AllocationClarity in communication is not just important for efficient output but also for effective execution of responsibilities.

Therefore it becomes immensely important that the staff gets a clear idea about who does what.

In this way, you can ensure that there is no doubling of responsibility and wastage of time in delivering them.

For example, let’s take the HR department only.

Let’s say you have a total staff of 10 to handle the responsibility of 200 people.

Now instead of all of them handling everything, you must allocate responsibilities very clearly.

One person needs to handle payrolls.

The next one could handle benefits, one for enrollment while the fourth one could look at overall recruitment and talent management and the like.

This kind of distribution ensures that the team is able to perform a plethora of responsibilities in the same go.

Time, as a result, is much better managed this way and the staff too can work under a lot less pressure as they go about performing their responsibilities.

Therefore what an entrepreneur achieves is effective human resource management and precision in overall execution.

This no doubt leads to creating effective delivery channels.

6. Respect Privacy & Confidentiality

Respect Privacy & ConfidentialityIn many ways, efficient human resource management is a lot about respecting individuals and allowing them their privacy.

Just because you have hired them, it does not mean that your staff is answerable to you for every action they undertake to keep it very professional.

Of course, they are answerable to you in terms of the time they spend in the office and the responsibilities they undertake.

But that does not mean that they are in anyway answerable for what they do beyond office hours.

Keep your relationship with the staff strictly professional and convey your empathy for them in a dignified manner.

The other key aspect in this context is respecting an individual’s confidentiality.

By this, we mean that when you hire your staff, they need to disclose a lot of details about their health, wealth and family.

You as the entrepreneur and the HR staff who handles this information on your behalf should be discreet about not sharing the information with anyone outside the office.

The confidentiality of the staff details cannot be compromised at any cost.

The effort needs to be taken that it is protected and in no way misused with any type of ulterior motive.

7. Encourage Talent & Diligence

Encourage Talent & DiligenceRemember whenever talk of efficient entrepreneurship, innovation is often considered the core of excellence.

In this context, it is important to mention that as your enterprise grows, it becomes essential for every member of your staff to try and innovate as efficiently as you do.

Often to achieve this, you also need to don the role of a mentor in your firm.

You have to try and encourage staff to start thinking out of the box, take ownership of the responsibilities that they take up and importantly they are able to deliver as well as you expect them to.

To bring about appropriate human resource management, you might sometimes even need to encourage them to undertake some training if required.

This is to ensure that the innovation procedure is not compromised under any circumstance in your firm.

Additional training processes, regular knowledge upgradation and even team engagement measures like offsite can go a long way in encouraging your staff’s talent and diligence to come to the forefront.

This also ensures that they are able to go about executing their responsibilities a lot more efficiently and appropriately.

As a result the positive vibe in the workplace gets enhanced.

8. Dealing With Problematic Employees

Dealing With Problematic EmployeesWhatever initiatives that you might undertake to make your staff happy and engaged there is always a chance of having a small percentage who are not happy.

Remember that human resource management is a lot about helping all of these people to change their stance as well.

So how do you deal with unhappy employees?

Here is a quick rundown:

1. Thorough Assessment

First and foremost you must work towards identifying the problem area and work towards alleviating it.

In this context, you must remember that you need to avoid assumptions at all cost.

Do not jump to conclusion, give your staff a patient hearing and then work towards creating a sustainable solution.

Whatever the problem is whether they are unhappy with the management, staff or just their job profile, always give them a patient hearing and then work towards a solution.

Look at offering assistance through various employee-related programs.

2. Delaying Tactics do not help

Always remember the longer you wait to address an issue the worse it becomes and in some cases even irreversible.

No one really looks forward to situations like this, but if you have t handle it, it is much better to do it now more than any other time.

Confrontation is most times the best way to deal with these kinds of problems.

Not only can you help root out a problem.

But you can also nip in the bud any kind of unwanted negative forces building up in your firm.

3. Don’t Compromise Privacy

Remember the cardinal rule of privacy is important in this case as it is in any other aspect of effective human resource management.

If you have to address a particular staff or if you need to speak with a specific team, it is always better to do it behind closed doors.

In this way, you are conveying the message to your staff that you are looking at resolving their issues and also committed to their happiness and satisfaction.

This also helps you in winning your team’s commitment at all times and them looking at you as your genuine well wisher.

They begin to see you as stakeholders in their happiness and often reciprocate it helping enhance the team’s efficiency.

4. Don’t Lose Your Cool

Remember that when you are trying to address an unhappy situation, it is quite simple to lose your cool, but it might not be the best course of action.

Tempers will be frayed anyway, and you cannot achieve anything by it.

On the contrary, a level-headed approach can always help in bringing out long-term gains.

The staff members in question will also be more comfortable in talking about their problem.

Unnecessary shouting can only make them more uncomfortable and even convince them to stay quiet.

The problem is the bargain you might lose out on a talented asset.

So best to try and remain calm and talk politely.

Mutual respect is one of the biggest policies that you must follow in the workplace.

5. Don’t Be In a Hurry

When you are dealing with unhappy customers and trying to fix the unhappy situation, please remember that it never helps to try and rush through it.

Speed does not help at all.

On the contrary, it could only add to the existing problems and even complicate the matter.

Don’t be under the belief that you can fix everything in one simple meeting.

Often it takes a lot more than that, maybe series of chats.

Yes, it can be often problematic and even frustrating to you as an entrepreneur.

But remember, in this case, patience is the key to efficient human resource management.

6. Don’t Forget To Record

Most importantly it is important to document and keep records of all the conversation that you have with your staff.

You must always document the outcome and result of anything you speak in meetings.

So you can clearly put forward your case in case of future conflict.

Remember to keep a positive tone, and the records should not work against you.

Also remember that if you have to part ways with an employee, it is always better to do it on a positive note.

Conclusion

As a successful entrepreneur you have to work continuously in creating an environment conducive for your staff to excel as well.

Efficient human resource management is about managing your staff efficiently, keeping their interest in your mind and looking at long-standing and sustainable solution that also aids future growth going forward.

The Most Successful Small Business Ideas that Work

I am sure you must be on a look out for that ultimate idea or the most successful small business ideas, if you are a relatively new entrepreneur.

The reason I mention small business is because, for a relatively new industry player or an entrepreneur, it is much easier to start off a business at a relatively lower scale.

It helps them have better leeway and the relative pressure on them to work out resources is also much lesser.

Additionally, most times we see a small business has better potential to turn profitable in a short while.

This is important because, for small players, they do not have the tenacity to continue for a long haul without any reward.

Rather it is a tough ask for them.

This is exactly why I decided to create a list of most successful small business ideas.

They are not just easy to implement, need relatively a lot fewer resources.

They also have the capability to turn profitable in a short while.

My list will no doubt help you start a business that addresses your interest and passion.

It also yields a profitable source of sustenance too.

A small business is a business that has less than 500 employees.

Therefore, even if you have a factory or company with 400 employees, your business is categorized as a small business.

What Are the Most Successful Small Business Ideas?

Here is the list of the most successful small business ideas that work and make money:

  1. Career Coaching
  2. Handicrafts Using Waste Material
  3. Event Planning
  4. Home Based Catering
  5. Daycare Centers around Home
  6. Maintaining Yards
  7. Odd Job or Errand Service
  8. Computer Servicing
  9. Providing Cleaning and Facilitation Services
  10. Consultants For Energy Efficient Homes/Office
  11. Day Care Centre for Dogs
  12. Moving & Packing Business or Moving Company
  13. Content Writing
  14. Telephone Marketing
  15. Organizer
  16. Virtual Assistant
  17. Remote Bookkeeper
  18. Language Translator
  19. Social Media Consultant
  20. Health Insurance Consultant
  21. Create an Online Store

1. Career Coaching

Career CoachingThis is among the most successful small business ideas.

Career coaching has been a much sought after profession by many, especially for those who have the passion for teaching.

You are able to address a wide range and age group of people who could be looking as some kind of coaching for their career.

From fresher looking for guidance before starting a new career or choosing one to relatively older professionals looking for a career change, the possibilities are innumerable.

Additionally, you can help clients better prepare for interviews, improve the presentation in their resume and help them take on interviews with a lot more confidence.

You can always make money through career coaching as one of the most successful small business ideas.

But keep in mind that you have to work hard while it is very difficult to expand the business.

In other word, it is not a scalable business if you don’t use the power of the Internet and the Data Technology.

It can only be a small business that can have a constant amount of income if you succeed to take it off the ground.

2. Handicrafts Using Waste Material

Handicrafts Using Waste MaterialWhen we are looking for most successful small business ideas, the fact is they always do not have to be resource heavy.

Have you ever considered the trash that is lying around in your house like old CDs or perhaps wooden boxes or even worn out shoes?

The fact is all of these materials can very well turn into profitable business ideas.

If you look at sites like Etsy, you would notice that a significant number of people are making a successful career out of it.

Moreover, this type of business model is not very resource heavy either.

You can start it off quite simply using the available alternatives at home.

Given the low cost involved in starting the business, the relative returns are also significantly higher.

Entrepreneurs find it much easier to retail this kind of stuff as well.

Even a simple online presence through an FB page is more than sufficient to create a stir and rustle up the desired response from buyers locally as well as globally.

Please note that although such a business works and can make money, it is known as a survival business, not a job that you can rely on it for good.

It is hardly expandable and you can not easily scalable it.

Keep reading. I will refer you to the businesses that have everything you need to be successful and financially free.

3. Event Planning

Event PlanningThis is by far one of the most successful small business ideas to follow.

If you love throwing parties and organizing meetings, then this could be a very profitable alternative.

Whether someone is getting married or wants to throw a baby shower party or even undertake a corporate meeting, there is no dearth of opportunity to make a strong business proposition.

In fact, according to the US Statistics department, there is a whopping 44% growth in meetings, conventions and event planning.

This means that the business opportunity for those interested is relatively much higher and can yield a lot more promising profit.

The quest for churning out a unique presentation makes event planning an incredibly successful business option.

The challenge here is not how many resources you can generate but rather how interesting you can make the event in comparison to peers.

That is dependent more on the kind of concept you have and depth of your understanding on any issue.

Additionally, it also highlights your keen need to develop an understanding of the client’s exact need.

This is what differentiates the most successful event planners from the rest.

4. Home Based Catering

Home Based CateringAnother popular option that’s also one of the most successful small business ideas is home based catering.

If you have a knack for cooking and have a passion for great food, this is no doubt an interesting way to make it a profitable option.

Home based catering services are highly in demand and work as a very efficient formula for small events and particularly low scale or low budget gatherings.

They also need a relatively low scale of resources to start with and anyone with even a small amount of fund and passion and go ahead with it.

However, they are among the hardest business to maintain and promote, and are struggling business by nature.

You can hardly expand such a business to increase your income.

It also doesn’t leave you any free time to enjoy your life.

5. Day Care Centers around Home

Day Care Centers around HomeWhen you are looking around for ideas to start a small business, there are some obvious options that you often miss out on.

One such is the day care centers. If you think about it and look around, there is often a serious dearth of quality day care centers with a home-like touch.

Most daycare centers are either rather large organizations or inefficiently run alternatives.

In that comparison, the home based day cares can be a great option.

If you like kids and can gain basic professional training along with the necessary licenses required, you can easily start off a day care centre at home.

Often just the large drawing room in your house or one of the bedrooms can be easily converted into a daycare facility.

It can often become a great option for working parents looking out for a home like day care centers for their kids.

Also in terms of a business proposition, this is one of those high margin options that require rather small resources to start off operations initially.

Additionally, the day care centers can also be scaled up in terms of providing additional facilities and training for the kids attending.

However, you have to be too careful about the legal problems it can have.

You have to get the permits and be aware that you can always get sued by one of the parents.

I believe this is not the business that is worth the headache and stress.

It is also very limited because you can’t take care of an unlimited number of kids.

6. Maintaining Yards

Maintaining YardsIn our busy life, the possibilities for the most successful small businesses are huge.

The question is whether you have the vision to see it.

Think about it; have you thought about the chore that weeding, leaf raking, snow shoveling and such tasks.

Yes, indeed the whole task of maintaining your yard can be a major headache.

Now think about the many others like you who are also dealing with the same problem.

So all you need to do is simply work out an entire system of staff that can go around doing the same set of services for a price.

In this way, you are addressing a demand and meeting it with a unique service opportunity that can create huge profits for you.

This is a good temporary small business for the students or those who have started a new online business and still haven’t made any money through it.

I know a millionaire entrepreneur who has made over $150 million through his online business since 2011.

Before he starts making money through his online business and while he was working to take off the ground, he was used to cover his expenses through lawn moving and maintaining yards.

He collected about 10 clients in the area that he could take care of on his own.

Surely this is not what you can do for good, unless you expand it and hire some workers. But the problem is there is a lot of competition in all areas.

7. Odd Job or Errand Service

Errand ServiceIdentifying the right opportunity is the crux to creating a profitable business proposition.

This is exactly why running an errand service can be a great idea in your tryst towards identifying the most successful small businesses.

There are many small services by paying the electricity bill or taking mails to the post office or even clearing mails or buying grocery.

Sometimes getting someone to do the running around for you can be a great help.

Therefore, you can easily start running an errand service.

Not only is the profit margin relatively high, it is important that you are able to cater to a key demand profile.

Of course, you need to do some market research to identify the kind of service that will generate the right response in your area.

But the point is there are opportunities galore, all you need to do is identify them and go ahead with it.

8. Computer Servicing

Computer ServicingAll of us live in an era that is dominated by technology and computer usage.

But the point is not many ones of us are very well versed with it to properly do justice to the kind of service required.

There is a range of private computer service from the installation of firewall to desktop cleanups to basic device connectivity and adaptation.

All these can be easily addressed if you had a person designated to do computer servicing in your area and who could simply answer a phone call and come home to do the job.

Often most of us would not mind paying the price for getting some work done quickly.

Therefore opening up a computer servicing centre can become one of the most successful small businesses that you could think about.

As a person who has such a ability, you will be a lot more eligible for the data technology systems that enables you make a lot more money that what you can even imagine.

Keep reading.

9. Providing Cleaning and Facilitation Services

Cleaning and Facilitation ServicesCleaning is a popular alternative small business idea that can be so successful.

Not only are you bringing forward a solution to the cleaning needs of many, but also this is one service that does not require a huge amount resource mobility.

You can easily rake up a collection of related equipment, create a team of workers who can deal with floor cleaning, carpet vacuuming or window cleaning and do some local publicity.

You are then ready with your business model.

Many people choose these small cleaning facilities as opposed to bigger institutions as they can offer more competent service at a relatively attractive rate and with minimum hassle.

As a result of this, the opportunities for you, as a service provider, are significantly higher and thereby the relative returns and profit margins are a lot more promising.

You must understand that cleaning is one of the basic services that no one can wish away, and almost everybody would be glad to hire someone for a price if these issues can be handled.

10. Consultants For Energy Efficient Homes/Office

Consultants For Energy Efficient Homes/OfficeWe mentioned earlier that a business opportunity is all about identifying the right niche.

So in your tryst towards identifying the most successful small businesses, it is common knowledge that you have to look for gaps that you could help in filling up.

So, for example, we all look forward to energy efficient homes.

However, most times we are at a loss to identify the right alternative.

How cool would life be if someone could just come and help us with their suggestion and advice?

Well capitalize on it and create a team of consultants for energy efficient outlets.

This is the best way to create a great alternative for raking in profits.

However, compared to the other successful small business ideas like cleaning, it is something that needs knowledge, skill and experience.

I don’t think it is among the easy small businesses to start.

11. Daycare Centre for Dogs

Daycare Centre for DogsA daycare centre for dogs and other pets figure very prominently in the list of the most successful small business ideas.

Perhaps we do not realize it, but the fact is that most of who have pets find it a major challenge to find the appropriate care centre for them.

Be it when you are going to work or when you want to go for a vacation to a destination where you cannot take pets.

You don’t want the pet to be neglected and want a care center that can give them home like warmth.

The solution is quite simple; just turn your backyard into a care home for your pets and for all those who are on a look out for a similar alternative.

Of course, one crucial precondition is that it can be a physically exhausting profession and you must be ready to take up the challenges at all cost come whatever.

Your love for pets and a natural passion for animals is another important precondition.

12. Moving & Packing Business or Moving Company

Moving & Packing Business or Moving CompanyOpening up a movers and packers business also figures quite prominently in the list of most successful small business ideas.

People are moving all the time from city to city, from one locality to another and they are perpetually looking out professional movers and packers who would not charge the moon from them.

You can gently slip into that hole and cater to a key demand area at competitive rates.

When you are operating in your locality, it also means you do not have to invest a lot of money in marketing your services and can benefit a lot from your local network.

As I see, the number of moving companies is going up every day in big cities that attract a lot of immigrants.

So, it has become a too competitive business.

I know some moving companies closely.

Some of them who have been around for over 20 years, make good money, but they have two main problems.

First, they can’t expand the business and make more money.

The income is fixed.

The second problem is that to maintain that fixed income, they have to work 7 days a week.

And of course there is a third problem now which is the competition which is becoming a more serious problem every day.

Although moving as a good small business opportunity has helped thousands to make a living, it doesn’t give you money, time and financial freedom.

13. Content Writing

Content WritingContent writing is another option in the list of the most successful small business ideas.

You can start the business with some very basic resources like a laptop and an internet connection.

You can easily subscribe to some online sites that can help you with job postings and find potential clients who might need your service.

From creating content for websites to brochures to just about any type of literature, you can easily earn huge profit from this type of business.

Content writing these days have become a very popular professional alternative.

14. Telephone Marketing

Telephone MarketingHave you sometimes been annoyed by calls from telemarketers giving you information about various types of product launches and offers?

Well, the fact is while you might not need it, there are many who capitalize a lot from these and companies pay a lot to those willing to take up this job.

Therefore the pay structure of telemarketers can bring in big opportunities for you to clock in sustainable gains with basic resources.

The fact that you can pursue this type of small business from the comfort of your home is an added advantage.

15. Organizer

OrganizerIn your search for the most successful small businesses, you would realize that across the US, there is a huge lack of individuals who can help you organize your stuff.

The fact is it is a huge prospect in the making.

Think about it; if you were an organizer or run a business dealing with organizers to help others make their life clutter free, how great that would be.

Well, the fact is being an organizer is one of those small business ideas that can easily scale up the size and business opportunity that arises thereafter.

16. Virtual Assistant

Virtual AssistantBeing a virtual assistant is a huge rage in the current craze about looking out for most successful small businesses.

You work remotely and do all possible things that a business owner or a business manager does not have time to do.

From opening emails to answering voicemails, there are many specific services that a business manager is constantly trying to get organized.

The biggest advantage is most of these can be easily done from the comfort of your house and do not need a huge resource investment in any form, whether you talk of equipment or infrastructure or even time.

17. Remote Bookkeeper

Remote BookkeeperThe recession saw a severe slash in many erstwhile positions to rationalize cost.

Surprisingly these are cropping up as interesting alternatives in the list of the most successful small business ideas.

One such option is that of the role of a bookkeeper.

If you have a background in accounting or financing and have the required time to work from home, all you need to do is simply apply to offer your services remotely to organizations requiring it.

The fact is most organizations are badly in need of it and will do anything to get someone to do the job for them without incurring a huge cost.

18. Language Translator

Language TranslatorA very attractive alternative among the most successful small business ideas is the role of a language translator.

If you are well versed in a particular language and can identify the need for translators for that whether it is for corporates or publishing house, it can easily translate into a thriving business alternative.

Remember a small business is always about identifying a niche and making it big there.

The solution is about providing competent services at an extremely competent rate which will give you an edge over established players in the field.

19. Social Media Consultant

Social Media ConsultantIn your tryst towards identifying the most successful small businesses, the role of a social media consultant can be extremely lucrative.

In today’s world, most businesses are relying heavily on social media marketing and the social media consultant is one who advises the clients about the various possibilities and avenues of social media and how to capitalize on them.

Moreover, the social media consultant explains the client about how to promote their marketing initiatives through it.

As a consultant, your role is all about identifying the right solution for the target customer and the client.

20. Health Insurance Consultant

Health Insurance ConsultantThe consultant’s role is no doubt very lucrative and among the most successful small business ideas.

In this case, we are talking about health insurance consultants.

If you have the related knowhow in this field, you can easily make it big by offering your service to target clients.

You can advise them on the right solutions for them and help them to go about the entire task of getting the insurance smoothly.

A lot of times you would see many people avoid the hassle of insurance just to avoid all the paperwork involved.

As a health insurance consultant, you play the role of a facilitator.

21. Create an Online Store

Create an Online StoreCreating an online store is by far one of the most successful small business ideas to follow.

You can either select direct retailing or even drop shipping alternatives.

The core point is that you need a website to take forward your e-commerce aspirations.

Even in terms of the choice of product, you have a wide range.

It can be either selling something on your own or something you acquired from a seller or even creating a very special niche set of suppliers with a choice of some special and unique set of products.

The online store ensures that you can access it from any corner with the help of a laptop and internet connection.

It does not require too much of resources to start a website either.

However, having a website or online store doesn’t mean that you have created a business based on the Data Technology systems.

It doesn’t mean that your business is scalable and will have the capacity of expanding and growing.

It also doesn’t mean that your business will give you time, money and financial freedom.

Having a website and selling some products through it, is a great small business idea, but you have to know how to take it off the ground and promote it, so that it makes a lot of money.

Conclusion

We can conclude the most successful small business ideas are often the ones that can cater to the demand of the maximum number of people around you at the minimum cost and effort involved on your part.

You need to be simply proactive in getting the right type of business idea and go big on the whole initiative.

Profit and returns in a business is all about getting a significantly higher return without a huge dent in your resource base.

GDPR: New Law That Could Affect Your Blog

GDPR is a set of rules governing how the personal data of individuals is processed.

It is applicable to customers, employees, and suppliers, who are residing in the European Union.

In the GDPR language, the law refers to these individuals as data subjects.

Compliance with the General Data Protection Regulation (GDPR) is mandatory for any business or personal blog involved in dealing with the personal data of EU residents.

GDPR is not a completely new law, but a harmonized, modernized and strengthened revision of the Data Protection Directive of 1995 (95/46/EC).

How Has the Law Been Revised?

1. Harmonization

It compromises a single set of rules across all the member states in the EU.

Thereby, making it easier for companies to comply.

2. Modernization

This way, the directive is relevant to today’s reality.

In 1995, there was no social media, no LinkedIn, no Facebook, no Twitter and the internet was at its infancy.

Personal data, its privacy, and the risks associated with it were different.

The two situations, the one of 1995 and now, are so different that the rules of 1995 can no longer be applied.

The world is now more exposed via social media.

You can now find anyone on social media and find a lot of their personal info online.

This poses a lot of risks for identity theft and other personal privacy infringement.

The world now is in great need of laws governing the collection and handling of personal data.

These data includes emails, first and last names or any other personal data.

For this reason, the GDPR law has been modernized, to suit the nature of privacy issues nowadays.

This was especially critical after the Cambridge Analytica scandal.

3. Strengthening

The law provides what individuals need to be empowered, that is rights to keep their personal data private.

It does so by holding the organizations accountable for any data they collect.

Online entities are supposed to let their users know what data they collect and store and for what purposes.

In addition, they shouldn’t use the data subject’s data for a non-intended purpose.

On account, many blogs, websites and organizations have updated their privacy policy.

Therefore, GDPR is a welcome change that strengthens the rights of individuals.

It puts accountability upon organizations processing personal data, and provides power to Data Protection Authorities for enforcement.

Furthermore, GDPR is a regulation.

Therefore, it does not require ratification from member states (unless a member state chooses to be more explicit or stringent).

The law became legally binding, effective since May 25, 2018.

This means all businesses must enact fundamental changes to their data protection practices to ensure that their processes, policies, systems, and contracts to conform to the new regulation.

This is in fact what happened if you have noticed the swarms of emails subjected as “changes to our privacy policy”.

Important Aspects of GDPR

1. Personal Data

To simplify the definition of personal data, GDPR uses the term “personal data” to refer to any information that can be used to directly or indirectly identify the “data subject”.

This includes but is not limited to identification numbers, IP addresses, CCTV footage, etc.

Further, personal data like race, religion, health, biometric information, political association, criminal history, etc. are further classified as “sensitive data”.

2. Processing

“Processing” pertains to any operation performed on personal data.

This constitutes any action like collecting, storing, using, sending, or deleting personal data.

To be specific, “collecting” includes recording the data.

Collecting the data could be via forms or other tracking utilities, known or unknown to the data subject.

“Using” includes retrieval, usage, modification, and combining or even linking data to create a user profile.

So, if a call centre has read-only access to your customers’ data in Asia, then it is still considered “processing” of personal data as it involves collecting data.

Who Is Held Accountable?

1. Controller and Processor

As organizations process the personal data of data subjects, they are classified as “controller” or “processor”.

Controller refers to the organization or entity that determines the purposes and means of processing personal data (e.g., when processing employees’ data, employers are considered controllers).

Parties can be joint data controllers in certain circumstances.

The processor is an organization or entity which processes personal data on behalf of the controller (e.g., IT providers hosting personal data for their clients are considered processors).

2. Supervisory Authority

“Supervisory Authority” is a public authority in a member state responsible for monitoring compliance with GDPR.

This is typically a privacy commission in a member state.

It may have a different name in each country.

For example, in the UK it is named the Information Commissioners Office, and in Belgium, it is known as the Privacy Commission.

Sometimes, this is also referred to as the “Data Protection Authority”.

Thanks to GDPR, there will also be a European Data Protection Board which unites all the presidents of such local data protection authorities.

Core Principles of  GDPR

The following principles are core to GDPR and must be understood before implementation:

  • Lawfulness, fairness, and transparency: Personal data must be processed lawfully, fairly, and in a transparent manner in relation to the data subject.
  • Purpose limitation: Personal data must be collected for a specific, honest and legitimate purpose (Processing should for this purpose only.)
  • Data minimization: Personal data must be relevant.

In addition, it should be limited to what is necessary for relation to the purpose for which it is processed.

  • Accuracy: Personal data must be accurate and kept up to date.
  • Storage limitation: Personal data should only be retained only to the extent necessary.

That is, you should delete the personal data oncethe purpose for which you collected it is fulfilled.

Of course, certain applicable laws may require data to be retained longer.

For example, most countries define a retention period for medical records in hospitals. So, in such cases, those relevant laws need to be referred.

  • Integrity and confidentiality: You should process personal data in a secure way that ensures confidentiality.

This includes protected the data from unlawful access and refraining from selling it to third-party sources.

Data should remain accurate and consistent while protection against unintended alterations.

Who Does GDPR Apply To?

GDPR applies to all organizations across the world that process personal data of EU residents.

Therefore, GDPR applies to all organization across industry sectors and around the globe if they process the personal data of data subjects who are EU citizens or residents.

Thеrе аrе two dіffеrеnt types оf dаtа-hаndlеrѕ the lеgіѕlаtіоn аррlіеѕ tо: ‘рrосеѕѕоrѕ’ and ‘соntrоllеrѕ’.

The definitions of each аrе lаіd оut in Artісlе 4 оf thе Gеnеrаl Data Prоtесtіоn Regulation.

A соntrоllеr іѕ “реrѕоn, рublіс аuthоrіtу, аgеnсу or оthеr bоdу whісh, аlоnе or jоіntlу wіth others, who dеtеrmіnеѕ thе рurроѕеѕ аnd means оf рrосеѕѕіng оf personal dаtа”

Whіlе the processor іѕ “реrѕоn, public аuthоrіtу, agency оr other bоdу whісh рrосеѕѕеѕ personal data оn behalf of thе controller”.

If you аrе currently ѕubjесt tо thе UK’s Dаtа Prоtесtіоn Aсt, fоr еxаmрlе, іt’ѕ lіkеlу уоu will have tо lооk аt GDPR compliance too.

“Yоu wіll hаvе significantly mоrе lеgаl lіаbіlіtу if you аrе rеѕроnѕіblе fоr a breach.

These оblіgаtіоnѕ fоr рrосеѕѕоrѕ are a nеw rеԛuіrеmеnt undеr thе GDPR,” says thе UK’s Information Cоmmіѕѕіоnеrѕ Offісе, thе аuthоrіtу rеѕроnѕіblе fоr rеgіѕtеrіng dаtа соntrоllеrѕ, taking action оn dаtа рrоtесtіоn аnd hаndlіng соnсеrnѕ аnd mіѕhаndlіng dаtа.

GDPR ultіmаtеlу рlасеѕ lеgаl оblіgаtіоnѕ оn a processor tо mаіntаіn rесоrdѕ of реrѕоnаl dаtа аnd hоw іt іѕ processed, рrоvіdіng a muсh higher level оf lеgаl lіаbіlіtу should thе оrgаnіѕаtіоn bе brеасhеd.

Controllers will аlѕо bе fоrсеd to еnѕurе thаt all соntrасtѕ with рrосеѕѕоrѕ аrе іn compliance wіth GDPR.

You might think if your business operates outside the EU then you are not eligible.

However, if your users/customers are residing in the EU, then the law protects them.

In this case, you are supposed to comply with GDPR.

Whаt Iѕ GDPR Compliance?

Dаtа brеасhеѕ іnеvіtаblу hарреn.

Information gets lоѕt, ѕtоlеn оr оthеrwіѕе rеlеаѕеd іntо thе hаndѕ оf people who wеrе nеvеr іntеndеd tо ѕее it — and those реорlе оftеn hаvе mаlісіоuѕ intent.

Undеr the tеrmѕ оf GDPR, not оnlу wіll оrgаnіѕаtіоnѕ hаvе tо еnѕurе thаt реrѕоnаl dаtа is gаthеrеd lеgаllу аnd undеr strict соndіtіоnѕ, but thоѕе who соllесt and mаnаgе іt wіll be оblіgеd tо рrоtесt іt frоm mіѕuѕе аnd еxрlоіtаtіоn, аѕ wеll as to rеѕресt thе rights of data оwnеrѕ – or fасе penalties fоr nоt dоіng ѕо.

What Are the Consequences of Non-Compliance?

Non-compliance to this law invites fines of up to € 20 million or 4 percent of global turnover, whichever is higher.

Of course, these are maximum fines and the regulators would apply a sanction would gradually to an organization in violation of the law.

For your needs, be aware that fines are significant but applied gradually. Legal counsel can help you with different details of the fines.

GDPR Requirements

1. Legitimate Need for the Data

An organization must know and be able to prove that, for any processing it performs upon personal data, there is a legitimate purpose for doing so.

For example, my internet provider has a reason to monitor my internet usage.

Because I signed an agreement to provide me internet and that entitles the internet provider to monitor usage, send invoices, process invoices, etc.

Similarly, an employer has the right to process employees’ payroll, because each employee signed an employment contract.

In this case, the processing of that payroll is a legitimate purpose as per employment contract.

2. The Information you Hold:

An organization should keep data only insofar as necessary.

This means that if I paid back my mortgage fully, but now only keep a bank account, then the bank has no reason to keep my mortgage history, details of my assets, salary, etc.

Of course, the bank must respect other laws that pertaining to retention of mortgage data; however, the data should not be processed anymore.

3. Individuals Rights:

To be assured that personal data is protected, data subjects have the right to ask what information one has about them and what one does with it.

They can also ask for a correction, object on processing,  lodge a complaint,  withdraw consent, or even to request deletion of their personal data.

However, data deletion is not an absolute right and has further subclauses.

4. Consent:

When processing personal data, there should be explicit and clear consent from the individual.

This means, if you wish to perform an activity like analytics for the purpose of making personalized offers, then the concerned individual should ideally be asked to provide his or her consent.

As part of consent request, you must state what you will do with the information.

For example, this means if the internet provider intends to monitor the type of websites I visit, then they should ask for my consent.

Other Factors

Children’s data: For processing of children’s data, GDPR requires the explicit consent of the child’s parents (or guardian) for minors less than 16 years of age.

In this case, member states can set a lower or higher age of consent, with a minimum at 13 years.

This means, data processors should not send letters to my children just because they may know that I have children who may want to buy mobile telephones.

Privacy notices: Organizations must transparently state their approach to personal data protection in a privacy notice that is easily accessible to data subjects.

This privacy notice should have clear and easily understood language.

For example, on their website, my telecom provider should provide me with information on what data they have, what they do with it, and with whom they share it.

Data breaches: Organizations must maintain a data breach register and, based on the risk, the regulator s.

You should inform the data subject within 72 hours of identifying the breach.

Privacy by design: Designers should incorporate mechanisms to protect personal data s in the design of new systems and processes.

This means an organization should execute principles and guidelines to ensure that business and IT systems (and processes)  protect the data subjects’ privacy from the very beginning of the design phase.

Privacy impact assessment: When initiating new initiatives like a project, campaign, or product that would process personal data, the organization must conduct a privacy impact assessment to review the impact and possible risks.

Ѕtерѕ Tо GDPR Соmрlіаnсе

Hеrе аrе some things tо сhесk аnd uрdаtе tо mаkе ѕurе уоur blоg іѕ GDPR compliant:

  • Inform your users of your роlісу іn clear, plain language.
  • Users can approve or wіthdrаw consent аt аnу tіmе.
  • Users саn mаkе/соrrесt changes to the dаtа thаt іѕ іnассurаtе оr іnсоrrесt.
  • Subscribers can аѕk for personal dаtа tо be dеlеtеd at аnу tіmе
  • Users have the rіght to knоw how you collect and process their іnfоrmаtіоn.
  • Users have the rіght to know what іnfоrmаtіоn you collect and process.

1. Updating Your Blоg and Privacy Policy

In order tо provide сlеаr and іnfоrmеd соnѕеnt, іt іѕ advised tо сrеаtе a рор-uр оn your hоmераgе ѕtаtіng hоw you collect аnd рrосеѕѕ information wіth a dіrесt link to your соmрlеtе Privacy Pоlісу.

When it соmеѕ to your Prіvасу Policy, уоu must be vеrу сlеаr аbоut hоw you gо about соllесtіng dаtа fоr уоur ѕіtе.

It is also important to mention hоw third раrtіеѕ use thе information соllесtеd (lіkе аd agencies аnd аffіlіаtе рrоgrаmѕ), аnd how соnѕumеrѕ саn opt-out.

It should be clear that they have the freedom to disagree and opt out.

2. Updating Your Mаіlіng Lіѕt

Aссоrdіng tо GDPR, you must hаvе еxрlісіt consent to have people’s dаtа on your list.

Thе еаѕіеѕt way tо do thіѕ wіth уоur current ѕubѕсrіbеrѕ іѕ tо be clear.

  • Sеnd out a саmраіgn wіth an аnnоunсеmеnt аbоut GDPR.
  • Rеԛuеѕt thаt they rерlу tо уоur emailed саmраіgn wіth a Yes оr a No.
  • It can also be as easy as clicking a link or ticking a checkbox.
  • Make sure your email is clear as to what they are agreeing on.

You can also give them the option to ѕіmрlу unѕubѕсrіbе.

Tо prepare for GDPR, оrgаnіzаtіоnѕ саn use this six-step process:

  1. Undеrѕtаnd thе lаw

Knоw your оblіgаtіоnѕ under GDPR аѕ іt rеlаtеѕ tо соllесtіng, рrосеѕѕіng, аnd storing data, including the lеgіѕlаtіоn’ѕ mаnу ѕресіаl саtеgоrіеѕ.

  1. Crеаtе a rоаd mар

  • Perform data discovery and document еvеrуthіng.
  • Rеѕеаrсh and analyze what your procedures are
  • Document your fіndіngѕ (what data you collect and how you use it)
  • Plan and make decisions about each category of data
  • create an асtіоn and implementation plan
  • Plan a risk analysis action plan.
  1. Know which data falls under GDPR

  • Fіrѕt, determine іf dаtа falls under a GDPR ѕресіаl саtеgоrу.
  • Next, сlаѕѕіfу whо hаѕ access to dіffеrеnt tуреѕ of dаtа, whо ѕhаrеѕ thе dаtа, and whаt аррlісаtіоnѕ рrосеѕѕ thаt dаtа.
  • It is important to know what happens to the data you collect
  1. Bеgіn wіth сrіtісаl data аnd рrосеdurеѕ

  • Aѕѕеѕѕ thе rіѕkѕ tо аll the private dаtа you collect.
  • Identify each risk associated with each data.
  • Rеvіеw your business роlісіеѕ and рrосеdurеѕ to identify possible chances for breaches.
  • Aррlу security measures to production data containing core аѕѕеtѕ.
  • Finally, еxtеnd those measures to bасk-uрѕ and оthеr rероѕіtоrіеѕ.
  1. Update your privacy policy and let the people know you are compliant (Begin implementation).

  2. Aѕѕеѕѕ аnd dосumеnt other rіѕk

  • Investigate any оthеr rіѕkѕ tо the data nоt іnсludеd іn рrеvіоuѕ аѕѕеѕѕmеntѕ.
  • Better safe than sorry, it is always a good idea to double and triple check.

Conclusion

All in аll, GDPR іѕ gооd for uѕ all.

I bеlіеvе іt’ѕ a nесеѕѕаrу step in оur іnсrеаѕіnglу popular online world.

The way people and bloggers see it can differ.

Yоu can еіthеr ѕее it as a раіn.

On the other hand, you can see it a way to hаvе a bеttеr rеlаtіоnѕhір wіth thоѕе whо іntеrасt with уоur buѕіnеѕѕ, giving thеm mоrе trаnѕраrеnсу аnd сlаrіtу.

This holds you at a more ethically moral position which is never a bad thing.

We hope our guide has helped you understand what this new law is all about.

In addition, we hope you have found useful guidelines on how to comply with this law.

How to Get More Followers on Twitter for Free

Learning how to get more followers on Twitter is everyone’s desire, whether you are a business or not.

Almost everyone, from influencers to ordinary cowboys, is craving for a ton of Twitter followers, for whatever reasons.

That’s right; me too!

Twitter followers are not without their benefits, it goes without saying.

They could make you stand out from the competition, among other things.

More followers on Twitter could mean a ready market if you are a brand who’s doing things “right.”

Twitter FollowersAll the same, it can be a nut to crack to acquire followers, especially if you’re a newbie on Twitter or are looking to run several accounts for your businesses on the platform.

That’s right; how many times have you been unfollowed on Twitter when you were least expecting it?

Or, how many times have you followed several different accounts in the hopes that they could return the favor – and they didn’t?

Like everything else, knowing how to get more followers on Twitter – and retaining these – has a catch.

You need to be a master of the game.

Which is why you may be here!

So worry not, for I have your best interests at heart.

In no time, I should turn you from a novice to an expert.

You only need to stay aboard with me if you want to learn how to get more followers on Twitter.

But first things first…

Why You Should Get More Followers on Twitter

Needless to say, numbers are always tied to some benefits – especially if you are a business looking to gain exposure.

And the “Twitter numbers” are no exception.

These can help do the following:

  • Generate leads
  • Get your message across all and sundry
  • Position you as an influential figure
  • Get you more ideas

Followers on Twitter can help do wonders with regards to generating leads.

Which is why promoting your product shouldn’t be a problem if you have the numbers with you – and you are playing the game right.

When you have more followers clenched in your fist, getting your message to all and sundry is almost hassle-free.

Why is that?

An increased Twitter following immediately positions you as an influential figure.

It’s no wonder that people are always looking to follow accounts with considerable followers.

They are looking to be within the influential radius of these accounts.

In other words, they don’t want to be left out of the persuasive scope of these terrific accounts.

They will follow in an instant.

Which explains why Twitter accounts with many followers are always growing.

Another reason you should have more followers is that these are an asset when you are looking to expand your knowledge; when you are looking for new or additional ideas.

Meaning, should you have a nagging question, all you need to do is tweet it and watch the answers come in – in form of replies, mentions, or even direct messages.

Your question might be retweeted so it reaches a bigger audience, too, attracting even more answers.

Isn’t that good news?

Should You Get Followers for Free or Should You Buy Them?

My take has always been and still is: you should get Twitter followers for free.

It is risk-free that way!

Buying followers on Twitter comes with a price-tag attached.

Your account could be suspended.

Your brand might be in danger of losing credibility; even your most loyal customers may lose their trust in you.

Who wants to associate themselves with a “cheating” brand, after all?

No one, right?

And this is where it stings most:

Your purchased followers are less likely to get engaged in your conversations on Twitter.

They didn’t choose to follow you in the first place, but you purchased them.

So why would they even care to get engaged in your conversations?

Exactly!

Which is the reason you’d be left tweeting to a dormant (bot-like) audience.

Needless to say, if you are here and are still looking to buy Twitter followers, you need to think again.

How to Get More Followers on Twitter

 It’s possible you are reading this and you already have more followers on Twitter.

It’s also likely you are here and have an average number of followers.

Or, maybe, you are this new kid on the block who’s yet to get the ball rolling.

Anyhow, we all have mission; we’re all looking to get more followers on Twitter, irrespective of whatever stage we may be at with regards to growing our audience.

Therefore, let’s all dive in!

Here’s a list of practical ways to get more followers on Twitter for free:

  1. Follow and follow back
  2. Post relevant stuff
  3. Use Hashtags
  4. Retweet others
  5. Have a good bio
  6. Use sharable content
  7. Promote your Twitter handle
  8. Mention Users
  9. Involve influencers
  10. Post the same tweet more than once

1. Follow and Follow Back

Get more followers on Twitter by following relevant accounts.

By “relevant”, I mean those accounts that might be interested in what you do.

Those that are likely to follow back.

Flipping the same coin, you should follow back users who follow you on Twitter.

You need to return the favor.

Otherwise, you risk being unfollowed by new followers on Twitter.

Not following back is a sure way to not retain new Twitter followers.

No one wants to stick around if you are stingy; it doesn’t matter how invaluable you might seem to be.

Ensure you are returning the favor if you’re, in fact, looking to build a considerable following on Twitter.

You don’t want your followers to slip through your fingers while you’re watching, do you?

Of course, not; you don’t want to fall prey to this!

2. Post Relevant Stuff

Another way to acquire more followers on Twitter is by posting relevant stuff.

While it might be fine to tweet about the “me stuff”, not feeding your audience with the “ideal” stuff is a guarantee to lose them bit by bit.

If you are a brand or business especially and are always posting about your latest holiday experiences, your audience is likely to “protest” by unfollowing you.

Unless they are friends or family, followers on Twitter care less about your personal life.

They don’t even care if you are a democrat or republican.

Please save the “me stuff” to yourself.

Most Twitter users only care about what they may have followed you for.

So ensure you are not only delivering it, but also doing so without fail.

Post relevant content!

Give your followers what they want; they will get engaged almost immediately, attracting potential followers in the process.

3. Use Hashtags

If you are looking to get more followers on Twitter, don’t hesitate to use hashtags in your tweets.

This is especially vital if you’re looking to get more niche-oriented followers.

If possible, use trending hashtags, provided they are agreeable.

It is a guaranteed way to gain exposure in your area of interest.

Twitter users are often on the lookout for trending hashtags.

And, chances are high they should follow you when they bump into your account.

In addition, you get niche-rich followers when you use niche-savvy hashtags.

For instance, if you are a blogger looking to get blogging gigs or are looking for followers interested in blogging, you can use such hashtags like:

  • #blogging
  • #blogger
  • #bloggingopportunities
  • #bloggerswanted
  • #bloggersneeded

The list actually is endless.

The thing is, whatever niche it is, use niche-friendly hashtags to get your message across your audience.

 4. Retweet

Getting more followers on Twitter is tied around retweeting other people’s stuff, too.

 Make it a habit to retweet other posts, provided they’re relevant for your audience.

Twitter users are more likely to share your content when you retweet theirs.

You know what that means?

Increased visibility and good chances of being followed as a result.

I always return the favor when someone retweets my content.

In the same vein, you might consider adding a “Please Retweet” note in your posts.

Tweets that include this note attract more retweets than those without.

Usually, some people will do things only when they are prompted to.

So, come on!

Tell them you need them to retweet your posts.

 5. Have a Good Bio

Do you boast a reasonable bio on your Twitter account?

A good bio is key if you’re looking to get more followers on Twitter.

If you don’t have one, you could be missing out on potential followers.

Note that before people follow you, a good number of them visit your profile to determine if you’re worth to follow or not.

Your bio can either make them stick around or scare the hell out of them.

Therefore, ensure you have a clear bio that shows who really are – or/and what you do.

In the same vein, is your profile image reasonable enough?

If it’s a headshot, is it your real image or someone else’s?

If it’s a brand name, is it a real brand or is some counterfeit thing you are going to keep changing randomly?

Followers on Twitter want to be associated with a real person or real brand.

They want to track a prestigious brand and not just some kind of imagination.

They want to see you.

Which also goes without saying that please include your website, if you have one, in your bio.

A website is a professional score on your bio.

It makes you stand out from every Tom, Dick, and Harry out there.

It confirms to your followers that you are someone worth your salt, and that you can be trusted.

Last but not least, you might want to include your city or region name to attract local followers, especially if you’re marketing a local product.

6. Post Sharable Content

This is my favorite!

I post shareable content in order to get more followers on Twitter.

If you are looking to get your tweets shared (everyone does), ensure they’re shareable.

Include relevant pictures in your tweets.

Tweets with an image are more likely to be shared than those without.

Include relevant inspirational/motivational quotes in your tweets.

Everyone wants to be inspired/motivated.

Me too.

The thing is, people easily share inspirational posts, tweets, which are, then, re-shared by other users, and so on.

Another way to ensure your content is shareable is by use of links.

Tweets with links stand a good chance to be retweeted than those without links.

Twitter users are always curious; they always want to get more info behind every tweet.

Links hardly disappoint when it comes to that.

Which is why you want to incorporate links in your tweets – if you haven’t already started yet.

7. Promote Your Twitter Handle

Promotion is not just for businesses alone; it also applies when you’re looking to get more followers on Twitter.

Therefore, let the world know that you need them to follow you on Twitter, and they are likely to do it.

Promote your Twitter handle!

Include it in your business cards and have your business contacts follow you.

Incorporate it on your website and blog and have the online community follow you.

Let your email signature do the hard work: include your handle in it and have more people follow you.

When it comes to email lists, let your prospects see your Twitter handle and they are likely to follow you as a result.

Ask people to follow you on Twitter: you can include a “follow me” button on your website or blog.

Your other social media accounts come in handy, too.

Let your Facebook, LinkedIn, Instagram, etc. feature your Twitter handle.

I call it marketing!

8. Mention Users

It couldn’t be easier to get more followers on Twitter by mentioning other users.

Learn to mention others by their Twitter handle when replying to their tweets.

The people you’ve mentioned are likely to mention you back as a result.

Which is a sure way to increase your visibility and improve your chances of being followed.

The same thing also applies when replying to “public” messages; messages that you feel might be of help to other Twitter users.

What am I trying to say here?

When you’re replying to such messages and feel that your response could be of help to your audience, reply the message publicly.

It’s as easy as 1, 2, 3,…

In your reply, @mention the person who asked the question.

Other Twitter users will see it.

If the reply is quite helpful, these are likely to follow you because they immediately see you as an asset.

9. Engage Influencers

Influencers play a key role when you want to get more followers on Twitter.

Mention influencers in your posts.

Influencers like to be recognized by all and sundry and are likely to follow you when you identify them.

The icing on the cake is when they mention you back!

You get to be seen by their huge following, escalating your chances to be followed.

On the same note, it’s a good thing to retweet influencers, especially those that sit in your niche.

Like I said before, influencers can catapult your follower count notches higher.

By retweeting them, it’s possible they could return the favor – multiplying your exposure to the masses.

This is yet another powerful tactic geared toward increasing your follower count.

Make use of it.

10. Post More Than Once

Last but not least, post more than once if you are determined to attract more followers on Twitter.

A tweet has a lifespan of a few minutes, during which it may be visible to only a portion of your followers – a small fraction of those.

In order to increase visibility and attract more followers on Twitter, therefore, post your tweets a couple of times, at different times.

Get me right here; I am not talking about spamming – avoid an outburst of tweets.

But I’m talking about posting the same tweet in considerable time intervals.

That way, most of your followers and Twitter users are likely to see your post.

In other words, someone who may have missed seeing your post 40 minutes earlier could actually see it when you repost it.

Scheduling your tweets comes in handy here.

Tools like Hootsuite and Socialoomph can be an asset in this respect.

Conclusion

Now that you know how to get more followers on Twitter, I hope you don’t waste a second to make use of it.

Be sure to take one step at a time, nevertheless, but you want to do things right.

You need to know what you are doing in order to build an audience on Twitter.

Yes, nothing comes on a silver platter – save for a lottery windfall.

But the good news is, that once you get the hang of it, it should be easy breezy to attract Twitter followers.

Last but not least, it’s possible there’s something I may have missed in this article.

So, please share in the comments if there is any practical tactic you’re using to get more followers on Twitter.

How to Find the Best Debit Cards for Maximum Savings

Finding the best debit cards for maximum savings is not an easy task to accomplish.

This is more critical considering there are so many debit cards on the market nowadays claiming to be the best.

However, with little research and due diligence, you can get yourself locked with the best deal.

Debit cards have undoubtedly revolutionized the banking sector and have made payments greasy smooth.

Just imagine how painful it would have been if there were no debit card payment system.

Best Debit CardsStanding in the queue to withdraw cash and transfer money would really be a real pain.

With the intervention of debit cards, everything has become so smooth in terms of payment system.

Moreover, if you can get your hands on some of the best debit cards, you would apparently, end up with lot of savings.

According to stats, Americans have seen a drastic increase of debit cards usage following the Great Recession.

Federal Reserve Payment Study indicated that the use of debit cards increased from 56.5 billion in 2012 to whopping 69.5 billion in 2016.

The use increased by over $2.56 trillions of money in 2016.

It does not stop there and is increasing more with every passing day.

The convenience of debit cards and several perks that come along with it undoubtedly makes it popular to common mass.

What Is a Debit Card?

No one likes to carry cash or even do transactions in cash.

Here is where debit cards come in.

Debit cards are actually plastic payment cards that works by drawing money directly from your checking account.

Debit cards are safer and more convenient cash alternatives, where the money is automatically debited from your account.

It works in-person, while shopping or doing any other activities such as ATM withdrawal without the need for cash.

The best debit cards are those which comes free from banks associated with other perks and discounts.

The best debit cards work with Apple Pay, along with other mobile transfer and payment processing platforms.

It also works with money transferring and receiving platforms such as Venmo, PayPal and Square Cash.

Types of Cards and Difference with Best Debit Cards

There are three different types of cards namely, debit cards, Prepaid Debit cards and Credit Cards.

Prepaid Debit card requires user to upload money through cash, checks, or bank account prior to using it.

Debit card works by using money directly from your checking account for any transactions.

Credit card as the name goes, lets you spend money by borrowing from the bank and you need to repay later.

The costs associated with these three cards are different.

Credit cards come generally with a higher rate of interest, while debit cards differ.

While credit cards can cost you higher rate of interest, debit cards are not always free too.

Along with the several parks of the best debit cards, you also need to incur some fees for using it.

For example, if you use any other bank ATM, you need to incur a fee ranging from $2-$3 for each transaction.

Some banks charge Foreign transaction fees too, which ranges from 1% to 3% of the entire transaction amount.

If you lose your debit card or if it is stolen, sometimes a little charge is imposed on the new card, however, you may get it for free too.

Lastly, you could be charged for Overdraft or Insufficient balance fees too, which is $34 approx for online banks.

While you can get the best debit cards for free from your bank upon opening an account, these are the associated costs.

However, long story cut short, the most prevailing and the best debit cards as of now are the Prepaid debit cards.

Prepaid debit cards are soaring the market and can be listed as the best alternative to banking and other cards.

Prepaid Debit Cards Are the Best Debit Cards

So, what’s the hype about these prepaid debit cards?

Why are they so famous and considered the best debit cards on the market right now?

The answer is very simple.

The card is really intriguing to customers as it not only functions as debit cards but come along with a lot of perks.

Prepaid debit cards are alternative to normal banking cards, which only allow you to spend the money only after you load it on to the card.

You can only spend the amount you load onto your card.

You can use it similar to normal debit cards where the payment network of Visa or MasterCard is accepted.

It works more splendid than debit cards and is typically a pay-as-you-go kind of card for all your purposes.

You can either reload cash it visiting the bank or you can reload money online by linking your checking account.

It is an excellent budgeting tool and can act as a replacement for a banking account.

Prepaid debit cards come with lesser fees and you can get one if you don’t have a banking account.

Bad creditors can get their hands on prepaid debit cards too since they are not linked to credit check.

If you are among the approx. 9 million US families without banking account, then these cards are the best for you.

How to Evaluate Prepaid Debit Cards

Evaluating prepaid debit cards is absolutely necessary prior to getting one for you.

To be on the safer side, you should always evaluate your prepaid debit cards so that you do not overspend.

The most crucial part while evaluating prepaid debit cards is to look onto the fees.

Since, prepaid debit cards are soaring the market and are the best debit cards, they can be notorious too.

Since, higher fees and bad offers swarm the market these days, it is essential for you to pre-check everything.

Prepaid debit cards have a bad reputation of swindling customers with higher fees and limiting access to conventional banking accounts.

Transaction fees according to survey are the most egregious fees with the cards.

1. Fees & Charges

Prepaid debit cards come with variable fees and charges.

The fees include monthly fees as well as paper statement fees.

Some banks will waive off the fees if you conduct certain number of transactions each month.

You can use the cards on ATMs and may be charged with excess fees other than the ATM withdrawal fee.

On the contrary, some banks will simply not charge you anything if you are a part of their banking network.

Check before you get one as the charges will be mentioned in the agreement.

2. Features

Other than as an alternative to cash payments, prepaid cards come with a variety of other features too.

These best debit cards come with basic features such as account checking online, tax alerts, as well as does not include credit checks.

You can also have smartphone apps with some from where you can check your account online.

These best debit cards come with savings accounts as well as rewards program that makes them unique.

Apart from these, there are some other evaluating factors you need to consider before getting a prepaid debit card.

3. Cash Reloading Options

Before getting a prepaid debit card, you need to consider how you can reload cash.

Evaluating the cash reload options is very important since you need to know how you can reload and the conveniences.

Alongside, you also need to know your regular spending and deposition limits for these best debit cards.

The best debit cards allow your paychecks to go directly in your account, while some cards may vary.

Knowing your card balance is very important and you need to ensure you can check that.

You also need to know what limits you have on your deposition and withdrawal.

The limits are mentioned in the user agreement, hence, you should carefully go through it before getting one.

4. Security

You need to ensure that your prepaid debit card comes with enough security.

Most times, you will see that these debit cards do not have enough security that Federal Law requires.

Some cards may offer you purchase protections while at most times, you won’t get that.

It becomes very difficult to insure for unauthorized transactions or rectify any errors.

The best debit cards will come with Federal deposit insurance on your money.

It means that if the issuer becomes bankrupted, you are insured of your money.

5. Expiry Dates

This is another important aspect to look out for, when it comes to evaluating your prepaid debit cards.

Prepaid debit cards have their own expiry dates.

Although funds do not expire, you need to reissue a card when it is expired.

As per Consumer Financial Protection Bureau, in 2016, many complained their cards were not reissued and they had balance on the cards.

You need to ensure that your card is issued on time after it expires.

You can complain on CFPB site, if there is any problem with reissuance.

Best Debit Cards That Are Prepaid

While there are many Prepaid debit cards, there are some best debit cards that offer you the maximum perks.

Below listed are some of those prepaid debit cards that come with the best perks and advantages.

1. American Express Serve Cash Back: Best Debit Cards for Rewards

These cards are for those people who spend big amount of money to generate rewards.

These rewards can easily make up for the debit card fees.

American Express Serve Cash Back comes with 1% Cash back everytime you make a purchase.

You can set up multiple subaccounts with your account and your family members can be a part of it.

However, their purchase doesn’t offer any cashback.

It comes with unique features, you can get nowhere and comes with purchase protection policy on your products.

Rewards are very fascinating with these cards, but look out for the fees associated.

Monthly maintenance associated with the card is $5.95.

Cash reloading charges of up to $3.95, however, depends on the retailer.

0 withdrawal charges at MoneyPass ATMs, and at other ATM, it is $2.50.

You may have to give ATM fees separate.

Foreign transaction charges are 27% post conversion to USD.

You need to spend at least $595 every month to earn enough rewards.

To break even you need to spend another $395, should you choose to go for cash reloading.

You can reload money through cash deposition, bank account transfers or check deposition.

2. Bluebird from American Express for Lower Fees

This card is for the people who are fees averse and do not bother if they are getting splendid value for covering costs.

Bluebird is hugely a fee-free card for most of your day to day activities.

You do not have to pay any fee for cash reloading, nil monthly fee in case you reload funds from Walmart.

Consumers can access fee-less withdrawal at MoneyPass ATMs.

User can also link upto 4 accounts of your family members, thereby can control their ATM access as well as check their spending limits.

Although, this card is feeless, however, if you are not careful, you would have to go through charges.

You need to spend $2.50 per transaction if you do not use MoneyPass ATMs.

If you reload money other than Walmart, then you need to go through $3.95.

It requires 10 days to complete for mobile check deposition.

If you want access to your money faster, then you need to pay 1% to 5%, which varies on check.

It comes with amazing benefits such as savings on shopping, restaurant dining, as well as other card purchases.

The card comes with trusted purchase protection when you use it while shopping or any other purpose.

Consumers can also expect the card to come with Fraud protection, which is excellent.

You can expect the card to come with Roadside assistance for towing or locksmith requirement.

Rewards on sports, entertainments and concerts along with 24 x 7 customer support.

3. Mango Visa Prepaid Card for Best Savings Account

If you are one of those people who prefer high-yielding savings account and have splendid cash in your hand, this card is for you.

Mango Visa Prepaid card is worth getting if you even didn’t own a prepaid card before.

The card may not have that fascinating feature, but the savings account associated is brilliant.

You can earn as much as 6% annually on your balance upto $5000.

You only need to have a net-direct deposition of $800 or more to your account, with minimum $1 every month.

Else, you would get just 2% yields.

If you have balance more than $5000, you will get 0.1% APY.

Monthly fee for this card is $3.

For each ATM withdrawal, the fee is $2 per transaction.

The charges for Foreign currency conversion is 2%.

However, you should not confuse with the word net-direct transfer.

Mango Cash details it as the direct account deposits minus the amount of money going out of your account.

If you are careful, you can easily get rid of the card fees.

Like you can add money to your account through direct deposition; PayPal or any bank transferring is free.

If you can maintain $5000 in your account, and can meet the net-direct criteria, you can earn as high as $300 per annum.

Or you can even get $25 per month as interest.

Bottom-line:

Apart from these, there are other best debit cards such as Chase Liquid Card, which is best for free reloads.

PayPal Prepaid Card for best shopping rewards.

Always be careful while choosing the best debit cards.

They may not offer you high stakes rewards or bigger sign-up bonus amounts, but come with fascinating traits.

You can determine the best debit cards on how you are planning to use it.

Do your diligence, shop everywhere and see which the best debit cards are for you.

Remember, the best debit cards are the ones you plan to keep using for long run.

Only check out for the fees, features, expiration, protection etc. when you go for selecting the best debit cards.

How to Get Crowdfunding for Your Business

Crowdfunding is one of the latest trends these days when it comes to opening a venture.

Prior to discussing about crowdfunding let us have a look at some specific aspects.

Setting up a business has and will always be a challenging stuff to go for.

When we first think of opening a business, the first thing that comes onto our mind is the several challenges associated to it.

Starting a venture is not easy and you need to be very careful as well as planned to get it started.

Acquiring funds for your new business is a big challenge and this is where it takes the most time.

However, a lot of credit goes to the internet and several funding ideas that makes the funding process simpler.

Crowdfunding is one of the most prominent and effective strategies to get funding and start your new venture.

What Is Crowdfunding?

Crowdfunding is one of those few effective methods of getting funds for your business with ease.

However, you need have a concrete plan and smart enough to impress people to acquire it.

The Crowdfunding ProcessCrowdfunding is simply the process of acquiring small funds from a lot of people over the internet for your venture.

It is the process of getting funds from many people at once for your venture in return for small rewards.

The best part is that Crowdfunding aids in reaching a vast network of people or potential investors through social media.

Crowdfunding websites helps in binding entrepreneurs and investors together and raise a massive pool of money beyond conventional methods.

With the right set of strategies, you can easily become successful crowdfunding campaigner.

For example, Neil Young, the music legend amassed a whopping $2.4 million in a single day through crowdfunding.

Certainly, there is a star power behind this campaign, but crowdfunding is quickly becoming the core of modern funding.

Although, it has revolutionized the market and start-up world, however, it’s no magic stick.

The success directly depends on the amount of labor you put into your strategies and idea.

Apparently, there are associated challenges, however, if you do your part, you should take no time to succeed.

The key is to convince people in funding your project in returns of promise to pay them some novelty or be a part of it.

Apparently, the most impressive crowdfunding projects make people talk about them and investment continues.

How Crowdfunding Actually Works?

Crowdfunding has completely revolutionized the investment world.

It has poured in a lot of opportunities for budding entrepreneurs to set up their own ventures.

It has paved the opportunity of acquiring thousands and millions of dollars potentially from anyone having money.

Crowdfunding paves a forum for budding entrepreneurs to pitch their ideas to waiting investors and collect funds.

According to stats, the crowdfunding market is about to amass whopping funds within the next few years.

One of the most interesting crowdfunding projects was the creation of a new kind of potato salad recipe.

The person’s intention or goal was to amass $10 in crowdfunding.

However, he eventually ended up with $55,000 from almost 6900 investors in a crowdfunding campaign.

Now, this is a whopping profit and you can imagine how big of a business, he could set up.

Through this campaign, investors can apparently find the best projects or ideas and invest as little as $10.

These crowdfunding websites collects a percentage of revenue from the collected funds as an income.

Examples of Popular Crowdfunding Sites

Crowdfunding campaigns have introduced several brilliant businesses globally and continues to do so.

Two of the most successful crowdfunding sites are Kickstarter and Indiegogo sites.

They are the best platforms you want to be for crowdfunding your project.

People want to invest in these sites hoping to invest in the next big venture and has amassed lot of popularity.

As of the year 2018, Kickstarter is another name for crowdfunding.

It is one of the biggest crowdfunding platform found in 2009, and attracts thousands of investors.

Since 2009, Kickstarter has raised more than 130, 000 campaigns, and collecting funds worth more than $3.5 billion.

On the other hand, Indiegogo started initially as a site to raise funds for independent films.

However, post a year to its launch, they started putting up all kinds of projects to crowdfund.

Indiegogo is considered to be a more flexible as well as lesser strict site compared to Kickstarter.

Indiegogo offers investors the freedom to have control over flexible or fixed projects.

This distinction is probably the biggest difference between both the sites.

Kickstarter only release the funds when the goal is reached.

However, Indiegogo lets you have the funds as soon as it is put up or you can even wait until it’s over.

All you need to do is ensure your plan is concrete and there is innovation in your project.

Successful Crowdfunding Companies

Crowdfunding has given birth to several companies over the years and they have been all successful.

Companies that were funded on Kickstarter have all become successful and profitable ventures.

Oculus VR, a US born virtual reality product was funded through the site, Kickstarter.

Palmer Luckey, in 2012 started a campaign on Kickstarter for virtual reality headsets for video gamers.

Though the original goal was for just $250,000, it successfully raised $2.4 million in funds.

In the year 2014, at March, Facebook bought Oculus VR for $2.5 billion in both cash and stocks.

One other example of successful Kickstarter venture is M3D.

M3D is a company that manufactures 3D printers and was founded by couple friends.

In the year 2014, Michael Armani and David Jones, the founders, raised a whopping $3.4 million for their company.

This was a very successful Micro 3D printer company funded from Kickstarter.

Their 3D printer that comes with several durable 3D inks can be found on Amazon, Staples, Brookstone etc.

Now, they are apparently making $10-15 million in sales.

How to Start Your Crowdfunding Campaign

Crowdfunding is a very tactical project and requires the best and proper strategies.

There are several ways how you can start your crowdfunding campaign, however, here are a few of them.

1. Choose a Platform

Platform plays a crucial role in setting up a successful crowdfunding project.

If you are unable to choose the right platform, then your project may not be successful.

Some of the best sites are Crowdcube, Crowdfunder, Kickstarter and Indiegogo.

Hence, go for the best and right platform, then set up your crowdfunding project.

2. Pitch an Enticing Idea

This is one of the most crucial steps of your crowdfunding project.

You need to pitch innovative and enticing idea to the potential investors if you want to be successful.

Always keep in mind that to get the attention of potential investors, you need to have a short as well as snappy pitch.

You also need to ensure that some images or video is linked with your idea so that the investors can understand and know it.

This will help you in standing out from the rest and be unique.

3. Promise Good Rewards

Rewards is an important part of your crowdfunding project since this is what would attract investors.

Investors are always attracted towards rewards and you need to make sure that you are good at it.

Rewards apparently depend on the amount of investments, the investors make.

However, you need to ensure that the rewards are enticing.

A simple ‘Thank You’ isn’t going to suffice and hence, you need to offer them something useful.

You can offer them access to your products, services, other discounts, some goodies and many more.

Ensure they are inclined towards your rewards.

They need to realize that they are getting something useful for their investments.

4. Few other Tactics

a. Keep Diverse Investment Levels

You need to keep in mind that different people would invest differently.

A section of people would want to make smaller investments, while a section would invest big.

Your rewards should depend on how much they are investing.

Therefore, ensure that you propose them distinct investment levels to make your project successful.

b. Make your Project Easily Shareable

Making your project easily shareable and accessible should be your primary goal.

A successful crowdfunding does well because the investors are excited about it.

They are excited about their investments and love being a part of something big and new.

Hence, they often adore sharing those with other people and letting them know.

Therefore, you need to ensure that your project is easily shareable on social media and other avenues.

c. Let People Know

Regardless of how good your idea is, if you don’t tell people, nothing is going to happen.

If people doesn’t know, how will they make investments?

Hence, you need to ensure that you are getting the word spread out.

Make use of social media, networking etc to share and always update your investors on the progress.

Do you have a good news or reached your goal?

Instantly let people and investors know about that.

This will help them share it with others and as a result, you are conducting a free marketing for your campaign.

d. Avoid Playing Long Game

This is a strict No-No for a successful crowdfunding project.

You might come into the conclusion that the longer you keep a campaign open, the better it is.

However, this is wrong.

According to the site Kickstarter, longer campaigns are not likely to be successful in their goals.

Stats show that the most funds arrive on the initial days of your campaign, hence no point of wait.

The middle days always bring a lull in donations and then again goes up during the last days.

Making your campaign shorter would decrease the lull period between the initial momentum and final one.

Keeping shorter campaigns help you in collecting the funds faster and get going with your project.

Always Be Realistic

When you are into a crowdfunding project, being realistic is always the best weapon.

Access properly how much funds you need for your project to get started.

Most entrepreneurs fail to access this and they overestimate the amount.

This happens because they never researched how much their startup would cost and hence, they fail.

Do you part before your campaign and figure out all the expenses.

Always try to get the real figures and then you can adjust a little.

Overestimating will not help and will eventually make your campaign unsuccessful.

Estimating properly will help you achieve your goal and make your campaign successful.

Estimate everything properly from the start of the campaign to delivering the first product carefully.

Prepare Yourself for Success

This might sound a bit awkward, but is extremely important.

You need to prepare yourself for success and do it wisely.

If you are creating a product that you can’t produce, then there is no profit.

You need to ensure you can manufacture the product in reasonable time, within budget.

You also need to ensure that the product is going to fetch your profit moving ahead.

This is because investors would be looking forward to receiving profits and that’s why they invested.

Consult with other business owners on the same niche and ensure that your product is worth it.

Launching your new campaign always sound interesting but you need to do your part of research.

Never fall short of commitment and always create a product that you can manufacture and fetch profits.

Is It Possible to Be Successful?

Although, it is true that not all crowdfunding campaigns can be successful, but majority does.

Even some of them can fetch funds higher than they ever anticipated.

For example, Emma Watkinson, founder of Silkfred, an online fashion retailer amassed €180,000 from Crowdcube.

Following her success, another entrepreneur Kelvin Dodds amassed €67,000 from Kickstarter.

He founded a funny product named Sugar skull Spoon despite of his goal being €3000 for his venture.

Hence, it is very important for you to be successful, you need to pitch an impressive idea.

You always need to be very creative and unique if you want to be successful in your campaign.

Hooking the investors is very important and you can only do that when you are creative enough.

Rewards as mentioned are important too for bringing in the notice and interest of the investors.

A successful campaign doesn’t come in a single day but with due diligence and hard labor.

Ensure you leave no room for errors when you create the campaign.

You should not wait too long to start a campaign for your crowdfunding.

At the same time, you should never hurry in for the campaign without collecting the necessary details and information.

You can get easily buoyed by creative ideas, enthusiasm etc, but never miss the hurdles.

You should never ignore the logistics, costs associated and all other factors, if you want to get successful.

Most fail due to the improper calculation of logistics.

You are ready for creating a product and prepared to make 100 of them.

What about then there is a 20% or 30% or 80% rise in your sales?

How would you fulfill that demand since you were up for 100 but not so many?

Here comes the importance of proper calculation of logistics and associated details.

Do your diligence properly and no one can stop you from creating a successful crowdfunding project.

How to Become a Successful Event Organizer and Make Money

An event organizer is generally involved in ensuring that events are successfully conducted at the end of the day.

The event organizer ensures that people for whom the event was created are satisfied with the results.

To become a good event organizer and make money, one should make clients happy.

The clients should also get value for their money to ensure they involve you next time.

Keeping all these on mind, let us get into more details on how to become a successful event organizer and start earning money.

Just like every other business, event organizing also require creativity, dedication, smart decisions and most importantly, a thorough research.

Without splendid knowledge on the subject of becoming an event organizer one should not hurry into the venture.

Being one of the most competitive businesses globally, this business leave you with no room for errors.

Hence, even a small mistake could land you in a complicated situation, thereby jeopardizing your business.

Responsibilities of an Event Organizer

Being an event organizer involves more than just planning an event by fully utilizing the resources offered.

It involves spending time on tasks like doing research to find the right venues for events.

Event OrganizerNegotiating with suppliers of say sound systems and tents is also part of the deal.

A good event organizer cannot underestimate the importance of preparing for appointments with potential clients.

The preparation is demanding because it is more than just making presentations to clients.

It involves answering questions that clients are expected to ask to ensure you appeal to them.

Re-scheduling and scheduling of appointments is also part of the package, considering your tight schedule as an event organizer.

A good event organizer needs to make follow up calls because some potential clients need a bit of pushing.

Excellent book keeping will also enable you track client expenses and manage your income making you a good event planner

Having a network of friends who have been in the industry longer than you have is an added advantage.

A network of industry professionals will make you a good event organizer because they will connect you with vendors and potential clients.

To make profits an event organizer will require more than just the manual errands one runs every day.

It is from a user friendly website or blog that a successful event organizer can showcase their work for the world to see.

Creating and distributing newsletters or RFPs is also a way to get one’s brand out there for purposes of earning money.

How Can You Stand out as an Event Organizer from the Rest?

Clients like transparency and accountability in cases where money is involved.

To become a successful event organizer and make money, you need to account for the hours you work during the planning process

Before you can charge, account for your value and show your clients that you are worth the amount you quote.

Do not undercharge, simply because you feel embarrassed about your rates.

It is difficult to make profits as an even organizer if you keep thinking that you lack the experience or skills.

Such kind of mentality will land you into losses, when you should be tapping in on your high worth and making profits out of it.

Thinking that you are operating in a slow economy and clients will only consider the cheaper alternative is bad for business.

The recommendation is that when you are determining the amount you should charge, consider the time you spend.

Keep in mind that you are saving your clients lots of time and money when you plan their events.

Therefore, it is only logical that they compensate you for your time because event planning is consumes time that could be spent on other deals.

A successful event organizer understands that they are in the service industry, and are hence selling time.

Since it is difficult to produce more hours in a week, one can only make more money by charging for the time spent.

You can become a good event organizer if you charge for the time you spend planning events.

The idea is to get the one’s pricing strategy right, to make money in event planning.

Unique Ways of Making Profits as an Event Organizer

The good news about event planning, and making money out of it is that anybody can do it.

It is not a specialized industry like engineering and medicine where only certain people can prosper.

It only requires creativity and the will to start small before venturing into big business deals.

I will discuss a number of event planning models that will trigger your creativity in the business field.

1. Conducting Seminars

Considering that people are .always willing to learn new skills, it is clever to organize training seminars.

It is during that time that you impart the knowledge you have in regards to the industry and get paid for it.

The advantage is that you can do it during your free time, which means you can earn even when you are not working.

If you are not good at training, it should not worry you because you can still hire a good trainer.

You need to identify a need in the market, plan for the training event, and hire a trainer if you are not one.

2. Sports Tournaments

All over the world there is a good number of sport fanatics, who would be willing to participate in competitions.

Apart from the avid players, there is another lot of people which love to watch sports tournaments.

As an event organizer, you could plan say a soccer event and get participants who are willing to play against each other.

In same breath, it is simple to get a big number that is willing to pay to watch the tournament.

Therefore, what you have here is a crowd that has paid to watch the game and teams that have paid registration fee.

Money collected from both parties is a way of earning profits.

3. Are shows part of the event organizer deal?

Shows may not be categorized as unique methods of earning event planners profits.

This is because event planning is mainly associated with show events, hence losing the touch of uniqueness.

However, what we fail to understand is that there are certain kinds of shows that have been less exploited.

Let’s have a sneak peak at a couple of such events which are rarely though about by planners.

4. Pet Shows

With many households owning pets, it would be interesting to bring pet owners together in one place.

The planning industry has created minimal opportunities for pet lovers and owners to interact as a group.

If you would like to become a successful event organizer, try the concept and you can make money out of it.

A pet show could also involve the showcase of abilities and talent by pets, in a type of contest.

The best pet or group of pets can then be rewarded, say by offering them a free treat to the veterinary.

Participants would be willing to pay the stipulated fee, from where you can cater for costs incurred and keep the profits.

5. Craft Shows

If you are an upcoming event organizer, and lack enough money to plan a big event, look no further.

Craft shows can be held anywhere from a school gymnasium, to a rented public hall which makes it the cheaper option.

You only need to bring invite vendors to showcase their items, hence gain new clients.

It is therefore a win-win situation, because you get to make money, and the vendors get clients from the event.

If you manage to draw a big crowd on your first show, you can be assured of more people in subsequent shows.

6. How to Choose Your Niche

A good event organizer will venture into the niche they are able to handle, and can reap optimal profits.

However, this is not to restrict you from venturing into as many niches as possible.

Some event organizers are making money out of a wide range of event types, hence are generalists.

It is lucrative to venture into a specialty, as much as generalizing is considerably good.

The challenge comes in identifying the niche to focus on, especially if you are just starting out.

Capitalizing on your experiences, knowledge, interests and passions is key in finding a niche.

You need to ask yourself the kind of clients you prefer working with, and the best set up for you.

Are you a formal individual who is more comfortable around corporates?

If that is the case, you need to think of planning meetings for businesses, organizing company retreats and tradeshows.

If social clients are your type, consider managing baby showers, weddings, engagement and birthday parties.

The size of events you are comfortable with is also entirely up to you.

You can choose to specialize in big events, say those that hold more that 50 people, or in small ones.

How to Get Your Brand out There as an Event Organizer?

Regardless of how good you are in your field, you cannot assume that everybody knows it.

You need to make your presence known in the market, and create a name for yourself.

A good event planner will work towards remaining relevant in the industry, to keep making profits.

The key thing is to market your business in all means possible, and with consistency.

Keep in mind that marketing is not a onetime affair. It should be more of a lifestyle for you.

Choose a couple of methods that you deem effective and enjoyable and work on them daily.

If you are still wondering what marketing options are there in the market, have a look at the following:

Create business cards and have them distributed far and wide. They should have your contact.

It is easier to contact a person when you have their business card, and more conveniently if it explains their service.

Having a business card is not enough. Ensure that it explains in brief, your best services and offers you can allow.

People like content they can read fast and understand easily, as opposed to booklets with lots of information.

Having friends refer clients to you is also a plus for your business.

When you offer high quality services at affordable prices, and with consistency, it lands you many referrals.

When a client is happy with a service, they will refer others to you. Therefore your product is a marketing tool.

Participation on forums is also a sure way of selling your brand.

Contributing in online forums and telling people how your service can provide solutions is ideal in marketing.

People are constantly looking for a solution to their problems, and if you can provide that, you are better off.

The Power of Social Media in Event Planning

The number of hours people spend online daily are more, compared to those spent offline.

Out of the total time spent online, most of it is on social media platforms like Facebook, Twitter, Instagram and Pinterest.

You cannot underestimate the power of social media in the prosperity of your event planning business.

If you are looking to become a successful event organizer, you need to create a strong presence on social media.

You may consider having a Facebook page or a Twitter handle from where your followers can access your services.

However, Instagram and Pinterest are better sites because they are visual in nature.

This means that visual appearance is more appealing, hence more people would be interested in your service.

However, you should acknowledge that social media is a marketing tool and not a selling platform.

It should not be a place where you go to book clients, but rather a site where you showcase your expertise.

It is advisable that sales be generated after potential clients are satisfied with what they see online.

How you cultivate your social media should publicize your business and bring in more profits.

The rate at which people return to your website and make purchases determines how much money you make.

A good event organizer will generate and share original content, that’s visual in nature.

The content could be from shots captured in previous events or inographics created in the past.

In the case of Pinterest, the images uploaded should be pinnable.

Do You Require SEO Too?

Your main concern is to become a good event planner, while at the same time making profit.

SEO is significant in helping you achieve your motive, because through online search, clients can find you.

This means that if you cannot appear online, then you are losing out on potential clients and resultant profits.

However, it is not enough to solely rely on the optimization of your online presence.

You need to incorporate excellent customer service to ensure clients make a purchase decision.

A client finding you on online search is one thing, but making a decision to purchase the service is another.

If you fail to work on the customer service experience clients get once they find you, you risk losing them altogether.

When a client reaches out to your customer service team, they need to receive the best treatment possible.

How a client is treated the first time determines whether or not they will stick with you.

The Stumbling Block You Need to Be Ready For

Competition is a major obstacle any person looking to be a successful event organizer should look out for.

There are companies that have been in business before you, hence are commanding the industry.

These will definitely have an upper hand and be a threat especially for new entrants.

To counter the competition, you need to be unique in finding a niche that sets you apart.

However, if done right, event planning is a sure way of making substantial profits.

Why Are the 4Ps of Marketing Losing to the 4Cs?

The 4Ps of marketing are no new thing.

These have been around since their inception in the 1960s.

They are preached everywhere: in marketing classes, seminars, webinars, etc.

They are the cup of tea of marketing aficionados.

There’s no denying that this marketing mix has dominated the marketing arena for ages.

But here’s what you may not know…

4Ps of MarketingThat the 4Ps of marketing are slowly but surely becoming obsolete!

That these could be swallowed alive by the very competent 4Cs.

You see, technology is evolving by the minute, helping rewrite the history of marketing.

Which explains why, in today’s time and age, the 4Ps of marketing have become less effective, giving room to the other side of the coin – the 4Cs of marketing.

Agree or not, the 4Cs are becoming “king” in today’s customer-centric world.

If you haven’t already realized, the modern consumer is in control of almost everything, including influencing the seller’s decision making process.

Today’s customer can buy anytime and anywhere.

With the rise of Amazon and eBay, the contemporary end-user is no longer limited to some offline store, or even their country, when it comes to making a purchase.

See why you should incorporate the 4Cs of marketing into your marketing activities – if you’re looking to even make a sale?

That’s right; things have changed!

Today, marketing is mostly digital with fully automated systems set in place.

It’s either you embrace the change or lag behind helplessly.

Louise Pegg, head of marketing at Landbay, is spot on about it.

She says, “Marketing is no longer about what businesses want to tell their customers, it is about businesses listening to their customers and responding in a way that offers a meaningful solution to them.”

Therefore, without further ado…

What Are the 4Ps of Marketing?

Just in case you had no idea, the 4Ps of marketing are the pillars that help describe the marketing basics.

They are rules meant to guide marketers through their marketing journey.

They act like cornerstones that marketers need to cling on so they can best position their product to “the masses.”

And, while it’s true the 4Ps of marketing have helped businesses thrive in the past, they are now, inevitably, paving the way for the 4Cs.

The 4Ps of marketing include the following:

1) Product

As a product developer, ensure your product is attractive to your target market; otherwise, it won’t attract sales.

Your product’s features should be obvious.

These should be clear to the end-user when they first see your product.

They should be spotted with ease.

How about the quality of your product?

Is it high, low, or average?

Not just that, but is it, actually, agreeable to your target market?

Conducting a thorough research might help bring some answers to the table.

Another thing you should look at is packaging.

How are you going to package your product?

Is the packaging material durable enough?

Is it readily available, for the long term?

In addition, you ought to think about things like after-sales services.

Is your product going to need an after-sales service?

If so, what measures have you put in place?

Note that branding counts, too.

Is your logo and tagline reasonable enough?

Are they unique?

The thing is, you need to position your product in such a way that it stands out from the competition.

Whether you’re looking to offer a new product or just want to offer an existing product with some modifications, you should do whatever it takes to ensure the thing is rocking it!

2) Price

How are you going to determine your product’s price?

Are you looking to set the price high, low, or average?

Whatever you should settle on, ensure your price is not too high or too low.

You may leave money on the table if you settle for an incredibly low price.

Flipping the same coin, you could scare to death budget-conscious customers if you set an extremely high price.

If you really are unsure of how to determine your price, it’s prudent to do things like distributing questionnaires so people can give a helping hand.

Creating polls can come in handy as well.

And, how about the mode of payment?

How are you going to agree on it?

This is when you need to think along the lines of cash payments, credit payments, etc.

Discounting might also be ideal.

In addition, incorporating taxes in your pricing is crucial.

3) Promotion

You need to make known your product’s value to your target market.

It’s the only way your customers will get wind that “something” is even available out there.

Therefore, you should educate your customers about the significance of your product.

Your product’s benefits need to be obvious to the end-user.

If there’s that “little extra something” you’ve incorporated in your product, let it stand out.

Even so, promotion can be done using various means.

You can advertise via TV, radio, etc.

You can carry out personal selling – provided it’s suitable for your business.

You can also promote your product via sales promotion and direct marketing

Whatever promotional strategy you embark on, ensure it’s viable enough – make sure it can motivate the buyer to buy.

4) Place

This involves making your product available to your target market.

For instance, what plans do you have in place for the customer to access your product.

If you’re going to use distribution channels, are these effective enough?

If it’s a service you’re offering, will you have customers come to you or you’d rather go them?

The thing is, you need to position your product so it’s accessible to your target market hassle-free.

Ensure your placement is suitable for the customer to have a clear view of the product prior to making a purchase.

Ina nut shell, according to the proponents of the 4Ps-model, these are some of the factors you need to consider with regards to making your product available to your customers.

What Are the 4Cs of Marketing?

The 4Cs of marketing are simply the other side of the coin with regards to the 4Ps of marketing.

The 4Cs are customer-centered while the 4Ps are seller-oriented.

The 4Cs-model does put the customer in control of everything, contrary to the 4Ps-model where the seller is in control of everything.

Which, in fact, explains why the 4Cs are rewriting the marketing history.

That’s right!

Today’s customer is pretty different from the ancient customer.

As a result, if you’re looking to woo them to buy your product, you need to put the right measures in place – the 4Cs.

And, so to speak, the 4Cs of marketing are poised to be a winner with regards to that; they boast tactics that are agreeable with the contemporary end-user.

Just like you are about to see!

Below are the 4Cs of marketing:

1) Customer

This revolves about your end-users and their habits.

How well do you understand your target market?

Have you done enough research to determine their needs?

If so, have you tried to address their problems, by creating a product that best solves their problems?

Note that the customer is “king” here – they help influence your decision making process to a great extent.

Which is why you need to identify your target market first before you can even think of coming up with a product.

Your target market can range from a single niche to several different niches.

Just understand that each slot has different needs, and that you need to attend to each one of those differently.

You need to develop different products for each of your target markets.

Don’t just create a single product and assume everyone is going to be interested in it, as is the case with the 4Ps-model.

2) Cost

I need to make it clear that “cost” is not the same thing as “price”.

Never!

These are two different things altogether.

Price is the amount of money your customer pays in exchange for the product you’re giving them.

Cost, on the other hand, includes price itself plus other things that affect the consumer in their quest to obtain your product.

Consequently, when thinking about cost, you need to think of things such as the time it could take the customer to access your products.

Reflect about the distance they are going to travel in order to access your product.

Contemplate over any negative consequences your product might have on the consumer.

For example, if you are selling junk food, think of how it’s going to cost the customer’s health.

If you are based online, have you thought of the shipping costs your customers are going to part with?

And, how about the shipping time?

How long should it take before the customer receives the product once they have ordered it?

In the same vein, it’s likely that the product could be mishandled during shipping.

Have you taken note of that?

Defective products are another cost you need to consider.

So, please get prepared to incorporate these costs into your marketing agenda, keeping in mind that the customer is “king.”

3) Communication

Communication is primary in any form of marketing.

Do whatever it takes to interact with the buyer.

And no, I am not talking about the ancient “promotion” – which tends to be manipulative.

I am talking about digital promotion, which involves a one-on-one communication process with your target market.

I am talking about nurturing a close relationship with your end-users, which can be achieved via social media.

Only when you do it is when you can understand your customers’ concerns

Yes, it’s likely your customer wants you to modify your product to their liking – even if it’s just to a small extent.

You’re not going to ignore that, right?

Communication ensures your product is friendly to the buyer.

Communication ensures your product not only meets your target market’s needs but also exceeds their expectations.

This is the reason consumers will be happy to buy from you, helping catapult your sales notches higher.

Which is many a tycoon’s desire.

4) Convenience

How convenient is your product to the customer?

I am assuming you already have a place that the consumer can access your products.

But, the thing is, is the place convenient enough?

Is it a spot the customer prefers to buy from?

If you’re running an online store, does your target market prefer to buy online in the first place?

If it’s an offline store, does it boast enough parking spaces?

If you’re selling over the phone, is it working for the customer?

These, and many more, are what you need to put in place so the customer can find it convenient enough buying from you.

Why the 4Ps of Marketing Are Paving the Way for the 4Cs

Now, I know you are dying to find out why the 4Ps of marketing are losing to the 4Cs.

Rest assured the answer is right here!

I’m going to compare the components of both marketing models (the 4Ps and 4Cs) so you can see for yourself!

So, stay aboard with me.

1) “Consumer” As Opposed To “Product”

In this time and age, you can’t just come up with any product and start marketing it to “the masses,” assuming everyone is going to like it – as is the case with “product” component in the 4Ps of marketing.

You need to first identify your target market before thinking of a product to offer them, as the “consumer” element in the 4Cs put it.

Here’s what you need to do in simple words:

Look for a target market.

Go ahead and find out what their needs are.

Then, develop a product in an effort to help address their needs.

That way, the customer is likely to buy your product.

Why is that?

It’s because you’re helping solve their problems by offering a handy solution – your product.

2) “Cost” As Opposed To “Price”

The “price” in the 4Ps of marketing is geared toward the buying price alone, ignoring other costs that the customer should bear in their effort to buy your product.

The “cost” in the 4Cs, on the other hand, encompasses the buying price and related costs that could affect the end-user.

In other words, you need to help reduce the costs your customer should encounter – including things like the distance the customer will cover to buy your product.

Note that a customer is likely to buy a product when they are pretty sure they won’t incur additional costs, in addition to the buying price.

This is what you should be after.

3) “Communication” As Opposed To “Promotion”

“Promotion”, as seen with the 4Ps-model, is often scheming.

It seeks only to woo the customer to buy the product, ignoring such things like developing a close relationship with the buyer.

Which explains why the 4Cs’ “communication” component comes in handy here.

It looks to interact with the buyer as opposed to just duping them to buy the product.

It is aimed at developing a lasting relationship with your target market.

Also, it is geared toward listening to the customer and what they have to say in relation to your product.

It’s focused on getting the customers’ feedback while using it to improve your product.

In other words, “communication” is all about getting the customer to be loyal to your product, which is key when it comes to helping skyrocket your sales.

4) “Convenience” As Opposed To “Place”

Contrary to the 4Ps of marketing, where the seller only needs to establish a “place” for the buyer to buy the product, the 4Cs are inclined toward “convenience.”

The “place” is not just enough, but it needs to be convenient to the buyer.

The “place” needs to be a spot the consumer likes to buy from.

It needs to be customer-friendly.

If it’s not, the customer is likely to look elsewhere – remember the modern consumer can buy anywhere, including the manufactures and online stores.

Conclusion

By now, I am sure we are on the same page.

You see, gone are the days when marketers relied on the 4Ps of marketing to make sales.

Gone are the ages when the seller controlled everything.

The 4Cs are fast rewriting the history of marketing, putting the customer in charge of everything.

So, it’s either you learn to value your customer or your business is at risk of losing sales.

What am I saying?

As a marketer or product developer, you need to embrace the 4Cs of marketing in order to thrive in this time and age.

You need to view the customer as an important asset.

You need to put the end-user first as you come second.

Therefore, if you are yet to embrace the 4Cs of marketing, keep in mind that time is running out – and you’re missing on sales.

11 Ways to Make Money Podcasting

Let’s say you have mastered the art of podcasting.

You have invested in the right set of instruments for the podcast, narrowed down on your content appropriately and have also managed to garner a set of die-hard followers who are hooked to your podcasts now and look forward to it.

As an able podcaster, your next question is undoubtedly what now?

How can you make money via podcasting?

11 Ways to Make Money Podcasting

Well, here is a quick lowdown on making money with podcasts.

They will help you to understand how to make money podcasting and also how you can use them as an effective medium to promote your business:

  1. Garnering Sponsorship
  2. Undertaking Virtual Summits
  3. Affiliate Marketing
  4. The Magic of Networking
  5. Ways to Push Your Product
  6. Patreon
  7. Coaching
  8. Create Audio Books
  9. Drum Up Crowdfunding
  10. Don’t Be Shy to Ask for Donation
  11. Creating Novel Apps

1. Garnering Sponsorship

Garnering Sponsorship

The revenue dynamics of podcasting is pretty similar to that of any other audio-visual medium.

Just like you need a loyal set of readers for your blogs, the podcasts also need a set number of followers.

Once you get the popularity quotient right, most popular podcasts can help you make large sums of money every day.

Given the growing popularity of the podcasting trends, you now have a relatively large bevy of brands who are ready to sponsor.

The podcasts which are popular and have a reasonable following can make rather significant gains through these sponsorships.

In fact, we are talking of sponsorships close to Super Bowl ads.

With 21% of Americans above the age of 12 hooked to podcasting, it is now fast becoming a depending model to make money.

The numbers do not just indicate the rising popularity of podcasts but also the heightened buying power of these listeners.

  1. The household income of nearly 22% podcast listeners is above $100,000.
  2. At least 60% of those listening to podcasting have either promoted a show or bought something that was promoted during the podcast.

Though sponsoring podcasts is fast emerging as a highly lucrative proposition, you need to be careful about certain pre-conditions to garner maximum value.

They don’t just help you negotiate better rates but also enhances your reputation as a podcaster.

1. You must make sure that all that you podcast is extremely engaging and people enjoy listening to it.

This is important not just for getting sponsors but also creating a loyal base of listeners who would keep looking for more podcasts from you.

2. You must pay careful attention to the overall content and the production quality of the podcasts that you upload.

3. Moreover, poor audio quality can severely impact the branding potential of any specific content that you might be trying to garner sponsors for.

4. Sponsoring for not just podcasting but for any type of audio visual products needs a close reference to actual numbers.

In many ways, these numbers are the real indicators of actual demand and the kind of viewership they command.

This is crucial data that determines the actual sponsorship that you ca hope to earn.

5. Also, as an efficient and experienced podcaster, it is very important to know your audience well and make sure that you are able to dish out products that appeal to the listeners and help you make money simultaneously.

2. Undertaking Virtual Summits

Undertaking Virtual Summits

Your queries about how to make money with podcasts has an easy answer.

You can liken it to any other audio visual initiative that you can think of and then use the same principles for podcasting.

This is exactly how hosting virtual summits can be such an interesting option to explore.

So what exactly is meant by virtual summits and how can you make money podcasting through this?

Well in the simplest of terms, virtual summit refers to any interview that involves a lot of experts, even 20+ industry veterans at certain times.

The concept that it works upon is viewers drop in at the point of time during the course of this discussion.

The content of this kind of podcasting is generally free for at least the first 24-48 hours.

But if the viewers have missed this window, they would have to buy the content or rather an all-access card that allows them to catch up on all the episodes that they might have missed.

You have to be careful about the choice of the subject and the quality of experts that you rope in for this podcasting.

Remember that mere 20 people talking with viewers chipping in between won’t get you the desired number of eyeballs that you would be targeting.

The choice of subject and the people speaking often set the tone for the podcast and thereby, help you get the right kind of followers and revenue along with it.

If you can host a sufficient number of these podcasts successfully, you can then make this a successful revenue model.

Apart from the real time list of people who would be buying these podcasts, you can also rustle up a list of email subscribers who are ready to buy these podcasts.

That aside, the brand that you create through this exercise also helps you make money.

3. Affiliate Marketing

Affiliate Marketing

The secret of how to make money with podcasts is not very different from other audiovisual media.

Therefore, it is but obvious that affiliate marketing also figures in the list of things that you can do to make money from podcasting.

Basically, affiliate marketing programs help you make money by promoting their products and services through your podcasts.

In case you are wondering how you can sell products to your listeners, the company normally provides you with specific links or codes that aid selling of the products.

For every product that gets sold through these links or codes, you earn a commission.

The exact rate and range of commission will undoubtedly depend on the affiliate marketing company and the number of their products that you are able to retail in all.

The choice of company for the affiliate marketing program becomes a key game-changer in terms of how much money you can make.

For example, if you decide to go ahead with Amazon, you have the potential to earn commission anywhere between 4-15%.

Of course, this depends on the total products that are actually shipped in a month.

This is exactly why it becomes very important to choose the right set of products.

There are two ways of identifying the right set of products.

You can choose options that match with the theme of your podcasting, or you can decide on the kind of products that your followers or listeners would like or have an interest in.

Also when you are promoting products through the podcasting, it is very important to maintain complete transparency and not take your listeners for a ride.

That is exactly why you also need to promote only those types of products that you believe in. It is unfair to mislead your listeners who are attaching great value to every syllable that you utter.

Wrong selection of products from the affiliate marketing initiatives does not just hinder the ways to make money; it also impacts your reputation.

After a bad experience with the product, your listeners could also raise a question mark about the overall quality and content of your podcasts.

That would surely impact the overall monetization plan.

4. The Magic of Networking

The Magic of Networking

Have you noticed that some podcasts are invariably always better that what the peers bring forth?

They would have great quality, superior selection of guests and an engaging debate almost every time.

While superior knowledge is one aspect of the whole thing, there are many different elements associated as well.

One of the primary catalysts of how to make money podcasting would be to further your networking initiatives.

Don’t be shy to tap the possibilities offered by every single member of your network.

The more you keep probing, the better are the chances of getting some real good voices and meaty content enhancing the quality of your podcast.

The kind of content that you put forth has very little relevance in terms of nurturing a strong network.

Don’t think that if you do not put interview based content, you don’t need to pursue networking actively.

In fact, networking can be real handy in terms of helping you to market your product, take your podcast to a relatively larger number of audience base and provide a lot more followers.

The strategy for networking also needs to be carefully chalked out.

Your guest list should not just have A-listers.

While there is nothing wrong with concentrating more on A-listers, it might not be strategic all the time.

That is exactly the key to helping you make money podcasting.

Strategy is one of the primary prerogatives that you must concentrate on.

You have to curate a guest list in a way that attracts the maximum number of listeners, and that is when you gain from the podcast.

Additionally, you should not just focus on creating an influential guest list.

It is very important that the person you liaison with also brings forth some basic business opportunity for you.

For example, if you are networking with a group of enthusiasts who are passionate about the topic that your podcast is about, they can often help you gain a lot more publicity than many big names in the industry.

They will listen to your podcast; talk to ten other people and who knows what business opportunity can suddenly click from these initiatives.

5. Ways to Push Your Products

Podcasting to Push Your Products

While affiliate marketing is one way to make money via podcasting, there is another way to monetize your podcasts.

So before you run around looking for the right options to take forth your affiliate marketing dreams, another simple option would be to promote products that you easily have access to and won’t cost much either.

For example, your sister sells decoupage items and spends a fortune promoting them.

Why don’t you strike a deal at mutually convenient terms and start promoting her products through your podcast?

There can be a cross promotion as well, where your sister includes links to your podcast and you promote hers.

As a podcaster, it is extremely important to understand the kind of listeners that you have and the product profile that would get you the moolah.

For example, you might be podcasting on gaming.

So it is needless to mention that you would have a significant number of listeners who are youngsters and belong to the trendy-funky Gen Y.

Therefore though you are not a fashion specialist or talk about fashion, you can promote trendy apparels through affiliate marketing tie-up.

While you might not be a fashionista, you have identified just the right pulse of the majority of listeners.

As a result, they would then relate a lot better to the type of products that suit their likings.

So, on the same lines, if you promote a great new bakery or stuff for newborns through your podcasts about fashion, it will be able to target the right type of listeners and help you make significant money.

The logic is fashion is invariably followed by women at large and at least 50% of these women would be new mothers or know people who are new mothers.

As a result, they have genuine requirement of these products.

Therefore they are more likely to buy these products and help you make money podcasting.

In short, you have to understand how to convert our podcast into an effective marketing tool and go all out to try and make the desired difference.

In this context, do not be stuck with names and brands.

Depending on the demand, kind of alternatives available, it does not harm to liaison with your neighbor and not a hot shot brand that wasn’t, if the prospect to make money look relatively strong.

The core idea should be maximum publicity for your podcast and strong response to the brands that you are promoting.

Remember the whole theme of your marketing initiative is how to make money podcasting.

6. Patreon

Patreon

Whatever revenue model that we explored thus far for monetizing your podcasting, is all extremely unstructured.

There is no regular stream of income flow.

There would be times when you get a lot of money flow and then complete dry spells.

So then the question that comes is how to make money with podcasts on a sustainable basis.

This is important because the only way a podcast would be sustainable over the longer-term is via monetizing its content in a systematic manner.

Perhaps one of the easiest options to maintain a regular flow of income via podcasting would be to decide to podcast on Patreon.

This a profitable proposition because Patreon allows its podcasters to receive income on a regular basis.

You can choose a payment scheme that suits you best.

It can be either on a per month basis or on every podcast that you put out on air.

This works equally well for beginners and veterans in the podcasting world.

So it is no more stress about how much revenue you can collect from sponsorships or ads or sales.

By their nature, they can fluctuate anytime but Patreon helps you make money without too much of a problem, and you can focus a lot more on enhancing the quality of products that you are podcasting.

Another big advantage of going the Patreon way is that it enables every podcaster an opportunity to connect with their devoted listeners on a one on one basis.

In the journey towards identifying how to make money podcasting, these interactions can prove to be major game changes with the potential to convert occasional listeners to hardcore followers.

So without any additional work, you are able to regularly interact with the listeners, understand their preferences and even tweak the content of your podcast accordingly to accommodate these additions.

This Patreon platform has, of course, many similarities with that of the YouTube model.

However, given the fact that podcasting is a continuous affair, the one-time funding alternative does not work very effectively.

In comparison, the Patreon model provides a steady source of regular income.

Given the relative wide range of listeners that Patreon commands, even a few bucks for each podcast a month can aggregate to a rather large sum on an annualized basis.

Reports indicate that there are some podcasts that have garnered close to $5000-7000 a month on Patreon even on the basis of few bucks that every listener chips in.

7. Coaching

Coaching Through Podcasting

One of the fundamental lessons in how to make money podcasting is that you need a steady flow of listeners who can be turned into subscribers essentially.

This is particularly useful when you are in the coaching business and want to market your offerings through coaching.

It will be useful for the listeners as they can save considerable time coming and going to your coaching center.

Moreover, podcasting is one unique product that you can hear while on the go and can gain significantly.

Moreover, this enables all those people who stay far away to also take advantage of your coaching.

However, one important aspect of this entire game plan is that the way you promote your coaching endeavors through podcasting often holds the key to most sustainable promotional exercises.

Well in this context, I feel you must adopt the movies’ structure.

Think about how movies make money through their publicity campaigns.

You can pretty much use the same concept with your podcasting too.

Just like a movie trailer, create a short gripping podcast trailer and also promise a free 30-minute session.

You can use this kind of promotion to get your listeners hooked and then turn into subscribers eventually.

The higher the number of subscribers, you can make money faster via podcasting.

You can also throw in a free consultation session for all those who turn subscribers listening to your podcasting.

This will no doubt add another layer of credibility and goodwill and help listeners add to your revenue model.

8. Create Audio Books

Create Audio Books

The general progression from coaching is to books using podcasting.

You are spending a lot of time and energy into creating quality content for your podcasts whether it is about business, commerce, mathematics, IT or even general advice about life and wellness.

This is your opportunity to turn this precious content into a saleable format and make money through it.

You already have understood the quality of content is appreciated, and there is a sufficient number of willing listeners who subscribe to it, all you need to do now is take it to the next level.

Take in all your creative instincts and put them to use creating audio books.

In effect, you are not doing anything extra.

You simply need to collate all the available podcasts done thus far, and then you relocate them into an audio book format.

You can then sell them as a single unit or even look to sell it on a part by part basis.

This will entirely depend on the demand cycle and the model that yields maximum gains for you.

For those who are little more resourceful like Jon Nastor, you can also convert this into a printed book format either.

You can then promote the book using the same podcasts as well.

In this way, you can create a self-sufficient module of both creating content and then monetizing and promoting it.

Surprisingly, all of it is being done using the same set of podcasting that you created initially.

9. Drum up Crowdfunding Through Podcasting

Drum up Crowdfunding Through Podcasting

Sourcing funds through podcasting is one of the biggest ways to make money.

But the biggest problem in this context is the approach for drumming up the funds.

Take a look at how the subscription model works on a platform like Patreon, a few bucks every month hurts nobody but what it helps you achieve is a sustainable channel for continuous revenue flow.

Well, this is what can lead to crowdfunding, as a means to make money via podcasting.

Just like you saw in the case of Patreon, the community of listeners chips in with small amounts and pledges.

When aggregated, this eventually allows you to create a pretty dependable kitty that allows you to take forwards these podcasts further.

Successful crowdfunding is all about creating consciousness amongst the listener community and then making them party to the entire cause.

In this way, you turn your podcasts as a common platform or level playing field.

It brings together people with similar beliefs across the world in a sustained manner and helps you to understand how to make money with podcasts.

In case you are planning to create audio books or full-fledged publication, these crowdfunding initiatives can be rather handy and help you provide the much-required resource to help you move forward.

10. Don’t Be Shy to Ask for Donation

Don't Be Shy to Ask for Donation

Creating a podcast is a rather expensive affair.

You have to organize the fund to hire a studio, instruments for recording, spend time researching and creating an appropriate content.

Plus the idea is to eventually turn it into a source of income and make money in the process.

In this context, you can easily ask for a donation pledge from your regular listeners.

There is no reason you need to be shy about it.

If your content is impressive and there is still time for the number of subscribers to reach satisfying levels, you can still go ahead and raise funds through donation.

Of course, you must remember this kind of method cannot be a permanent way to make money.

This is only a stop-gap measure to tide past a tough phase in your podcasting journey.

After all, it is almost like begging, and you won’t be too happy asking for donations all the time.

Also, this can impact the number of listeners that you might have for your podcasting episodes.

After all, people might easily get irritated by a constant plea for donations.

11. Creating Novel Apps

Creating Novel Apps

In the journey towards how to make money podcasting, there is never any dearth of opportunities to capitalize on.

So if you have quality podcast content and a reasonable subscriber base to bank upon, you can also look at devising unique models to make money.

It could be anything from making it an app for android or iOS devices to something that is offered as a free offering along with other products as well.

The idea is to get the maximum number of people willing to pay the price for the product that you have on offer.

So, Podcasting Makes Money

Podcasting Makes Money

When you are looking at ways to make money using podcasting, there are many alternatives that you could explore.

The overall idea is to generate funds capitalizing on the willing listeners to your podcast.

However, the secret of how to make money podcasting is closely linked to the choice of topic that you might have in mind.

If you want to make money as a podcaster, you have to look at identifying the most gripping topics that can generate the largest number of subscribers.

It should also have the potential to start a debate and involve the listener community into the whole discussion module.

Effective networking is another important tool for generating funds through podcasting.

From creating an A-list of guest speakers to being able to spread the word about your podcasts, your connections can go a long way in helping you create a sustainable revenue model.

Moreover, you must maintain continuous connect with your listeners.

As a seasoned podcaster, this often creates the most reliable tool to improve the quality of your content going forward.

How to Make Money as a Computer Programmer

Software engineers or computer programmers are people who create computer software by writing all the coding in specific computer language.

Computer programmers are the spirit of any hardware and applications because without programming, most of the electronic devices are useless. Continue reading How to Make Money as a Computer Programmer

How to Find Investors for Your Business

Once your business plan is ready, the next step is to find investors.

But the reality is it is not that easy to find an investor.

The internet will convince you that the business plan is your magic wand.

But it is not the case always.

Most times, small and medium-sized businesses may toil very hard looking for funds.

Funds are never easy to procure, neither is it simple to spot investors.

How to Find Investors for Your BusinessWhether it is bank loans or venture capitalists, there are many hurdles.

In fact, contrary to the popular beliefs, generating business finance is undeniably a tough ask.

Statistics indicate that only a paltry 5% of the internet ideas get funded.

Does it mean that only 5% of the ideas are worth the funding?

In case if you think that creating a great business plan is sufficient to help you, think again.

The business plan surely helps people get a fair idea of your concept.

But there is nothing that assures you will get funding for sure.

In fact, investors can be rather arbitrary in terms of offering financial assistance.

That is why, it becomes extremely necessary to know the right way to find investors.

That is undeniably one of the most important aspects of setting up new business.

Without the right funding plan, the best of business ideas can fall flat.

Remember there is no clear formula or system to evaluate entrepreneurs and their plans.

Moreover, often entrepreneurs are motivated more by the need for funds.

But in reality there is a very fine line between needing funds and being ready for funds.

But an investor who is putting money will evaluate every big and small element of the plan.

In short, investors look for entrepreneurs who have their skin in the game.

How to Find Investors for Your Business

This is exactly why when you set out to find an investor, a clear strategy is essential.

There is no clear formula in this aspect.

Different investors may respond differently to a variety of business plans.

Often entrepreneurs have to meet and discuss with as many as 50-60 investors before making headway.

A quality business plan alone can take you nowhere in terms of generating funds.

This is precisely why you have to go ahead with a clear strategy when you set out to find investors.

That means you have to inevitably complement a good business plan with in-depth research.

That will alone help you formulate a cohesive strategy and meaningful gains over long-term.

Often how you pitch the business plan is also an important element.

Remember you have to create a pitch as per the investor you are approaching.

There will be a meaningful difference as per different individuals.

Remember every investor who decides to put their money, will also calculate the return prospects.

No investor will want to invest if they are not convinced about the rate of return.

It is impossible to know all the right people but here are some ways to undertake a meaningful strategy.

These are some constructive measures to look for the right type of investors.

Most importantly, it will help pitch your plan to the most relevant target audience.

Does it guarantee financing, well, may not always.

But at the same time, it surely improves the chances that you may actually find an investor.

The measures that we are suggesting are not unique in approach but are unique for every type of business idea.

You have to decide on the most appropriate way to ensure that you manage to find investors.

Here are some ways to find investors:

  1. Contact Networking Groups
  2. Approach Business Schools
  3. Approach Friends & Family in the Corporate Circle
  4. Create a List of Potential Angel Investors
  5. Crowdfunding

1. Contact Networking Groups

Whether you are targeting angel investors or venture capitalists or even plain bank loans, networking is crucial.

Connecting the right type of network does not just help get investors but also other alternatives.

Most importantly it offers the opportunity to connect more than one investor in one go.

That can often make a huge difference.

You have to remember that investors sometimes can be really arbitrary in terms of their decision.

But when you connect to these networking groups, it is like connecting to multiple opportunities in one go.

Many investor networking groups also organize events and meet-up sessions.

These can instantly help open up a host of opportunities for entrepreneurs in one go.

They allow businesses and concepts to come to light in front of a bigger audience.

Entrepreneurs can also look at pitching their ideas to the local companies.

Apart from connecting to a larger group of investors, you can also get feedback.

An entrepreneur is often blinded by their cognitive bias towards their dream project.

Often they may not be able to see the elements that are lacking in their plan.

But when there is an open pitch in this kind of networking groups, it surely makes the process a lot more fluid.

If you pitch correctly, you may also see many local players join hands.

So when you set out to find investors, the funding is all that you are looking for.

But this is a unique opportunity that offers options to explore crowdfunding possibilities.

That can often be a big bonus.

Needless to mention, it enhances your options in a meaningful way.

It makes sure that you are able to connect to a huge group in one go.

When you are looking to find investors, this can be a major advantage.

2. Approach Business Schools

When you set out to find investors, this may seem like an odd choice.

After all, they train you to run businesses, how can they possibly fund your project?

Well, the truth is that these business schools are often meeting platform for the best investors.

Most times business schools have a strong tie-up with investor networks.

But be careful that you choose business schools that have an active program for entrepreneurs.

Those types of projects attract a lot of willing investors to part with their funds.

Now all you have to do is to tap this latent opportunity full of potential.

There are chances that many of these investors are also alumni of the institute.

That makes the deal even sweeter for you.

The idea is to access a platform that offers maximum exposure to investor groups.

The business schools that way become a fantastic breeding ground for long-term relationships.

Their network of alumni, teachers and guest lecturers make for a commendable force.

The chances are if you ask them, they will be able to guide you to the appropriate source.

What is particularly interesting is different businesses attract different types of investors.

These business schools and the authorities there understand these nuances very well.

They, therefore, don’t just offer help but also the most appropriate ones.

That goes a long way in creating meaningful pitches and worthwhile connects.

Though not a strictly networking group, these business schools have a relatively strong clout.

So if you can approach the right people, the chances of getting investment are much stronger.

The whole funding procedure also becomes a lot faster.

Who knows, there are possibilities where your project may become a case study.

So contacting a business school can help you find investors in many ways in a constructive fashion.

3. Approach Friends & Family in the Corporate Circle

Whether you like it or not, friends and family are still the most dependable source of funding.

We all know that the business plan is only a medium to take forward your plea.

The main idea is to convince the investor that your business can help them realize decent returns.

So this is where a personal rapport and connect can go a long way in seeking a meaningful help.

In this case, the first hurdle which is convincing investors is already done.

All that will be left is analyzing the mettle of your business plan.

So when you set out to find investors, research for friends and family in the industry.

It is an added bonus if they have also followed the entrepreneurship route.

This will mean they are already aware of the challenges and potential therein

The first option is undeniably them coming ahead and helping you.

But even if that is not an option, they can help you to find an investor.

Being in the industry gives them access to different types of corporates and funding institutions.

They can easily pass on the contacts to you and help you in looking for help.

When you contact the business through these references, it surely adds credibility to your case.

Investors will be more than willing to hear your case when they know you have been referred by someone who has a skin in the game.

Supposing your friends or family who are in business agree to be guarantors, you can get conventional bank loans a lot easier.

Therefore the bottom line is these contacts help you approach a greater number of potential investors.

The chances are when you use these references, you may be able to get a much better deal too.

4. Create a List of Potential Angel Investors

This is one of the most effective ways to find investors.

What is particularly interesting is profiling the angel investors often helps you learn a lot about your own business.

Of course, this step involves a lot of hard work and painstaking research.

Slowly and steadily you create profiles of all the possible angel investors you may want to meet.

Not just that, you also have to jot down how you want to pitch your business to them.

That helps a lot in highlighting elements of your own business too.

You have to detail out your team members, your business elements and the company info.

This kind of documentation can help in driving a meaningful investment campaign.

You can also undertake this type of exercise online.

The advantage, in that case, is you can share your profile with your friends who can also share in their network.

So the number of potential investors you may meet or approach for help increases.

That surely helps you create a constructive database of contacts too.

You can also look at sending personalized notes to each one.

Often that can help you a long way in creating strong contact base.

5. Crowdfunding

This is another popular way to find investors.

See when you find an investor, they may be convinced about your cause.

But at the same time, they need the kind of money that you need.

This is where crowdfunding can make a meaningful impact.

This is a platform where multiple investors and multiple resources can be pooled in.

There are specifically targeted platforms for specific industries.

You have to look out for the right option for you.

That will make sure that you get the access to the most relevant opportunities.

So whether you are getting money from angel investors or venture networks, you can contact these.

Moreover, this can help you spread out your capital requirement over an extended period.

This will always help you get better results when you set out to find investors.

Why Should Investors Reach out to You?

But even when you have created a list of strategic and angel investors, will they respond to you?

Why should they reach out to you is a cardinal question when you set out to find investors?

This is what will help you strengthen your pitch, presentation and business plan.

Needless to mention that always enhances the possibilities to get more and better funding.

Remember just like you are looking for a great investor, investors are also looking for great companies.

So it is a two-way street.

The need and necessity are there on both sides of the story.

The trick is how well you can convince the investors that they need you.

So you have to spend quality time in creating that sense of unique and indispensable in your pitch.

Your concepts, mission statement, drive and leadership skills should convince the investor.

They have to be certain that when the product is launched, it will make a great business.

Try writing about your concepts and ideas in popular journals and investor magazines.

If your idea is indeed radical and replete with potential, investors may start calling you up on their own.

But remember your 100% conviction is important.

You will never get a Yes in the first instance.

Be mentally prepared to hear a lot of Nos before any Yes comes your way.

But that should not deter you or temper down your drive

That is the only meaningful way that you can look at seeking long-term assistance.

Your drive and conviction should convince the investor.

Often investors judge an entrepreneur more than a plan.

A plan is often as good as the leader makes it.

So remember you are the biggest ambassador for your business.

Make sure the investors understand.

– Investors Are Looking For Your Drive

When you set out to find investors, make sure what investors are looking for.

The easiest way for it will be thinking of how you will create an ad campaign.

You are inevitably going to highlight the benefits and strong points.

Most importantly, you will tell your target audience why they need the product.

But when the product is just being launched in the market, there is no previous track record.

So how do you market it?

Well, the best way is to explain to them why they need it.

Remember, the investors are looking for the same from you.

They are always looking for entrepreneurs who are willing to put everything at stake for their business.

They should also be ready to part with the last bit of money they can spend on their own.

That demonstrates how keen the entrepreneur is about the business.

Just like the entrepreneur is looking for investors who are enthusiastic about the business, the investors also want the same.

They are constantly on the lookout for players who are dedicated and persevering.

That is often the recipe for success for any kind of endeavor that you start.

Conclusion

Therefore, we can conclude that when you set out to find investors, it is always an uphill task.

Your perseverance, enthusiasm and conviction are never adequate.

Neither is it sufficient to have a great business plan.

What you really need is to access the right network of investors and project your story in the right light.

That exercise alone will help you find investors.

Without the right investors, even the best of business plans can suffer.

So you have to carefully calibrate your requirements to find an investor.

Angel Investors Looking for You

If you are planning to be an entrepreneur, I am sure you have come across ‘angel investors’ many a time.

Apart from startups, this is one of the most commonly used terms in the world of entrepreneurship.

Well, these angel investors don’t come with a halo or a pair of wings.

But the fact is they can surely give wing to your business venture.

Usually these type of angel investors put their money in the early stage of business.

The reason they are referred to as angel investors is because they are like angels helping you take forward your business.

The capital that they provide may sometimes become part of the seed money you start with business with.

You do not need any special qualification to be an angel investor.

All you need is adequate capital and a willingness to invest in your business.

So, technically angel investors can even be someone from your family or friend circle.

Angel Investors Looking for YouThey support your business and help you give shape to your dream.

So why is there a special term to refer to them?

In terms of pure functionality, they appear similar to lenders.

They have a minimum role in the business operation and get a share of business as return on investment.

But the reason why you may still prefer them is the condition of repayment.

Typically, they invest on the basis of their terms with the investor.

The focus here is on getting the business started.

The viability and profitability of the business model are not the primary objective.

This is where they are very different from the venture capitalist.

They are very informal in comparison to venture capitalist.

Most times, their investment model is based on the level of the investor’s confidence.

That becomes the crucial deciding factor.

How Did the Term Angel Investors Originate?

But the question is why call them angel investors?

Well, there is a variety of explanation for it.

William Wetzel of the University of New Hampshire was one of the first persons to use this term

He was the founder of the Center for Venture Research and undertook the study on how entrepreneurs gathered funds.

In fact, you can trace the origin of the term to Broadway.

As fund crunched directors struggled to get funding for their works, many affluent gentlemen helped them out.

They provided money to fund these theatrical productions.

Once the theater started yielding revenue, they were paid back in full with interest.

Wetzel in 1978 went ahead with his work and termed these investors as angel investors.

So he grouped them as investors who supported new businesses and provided seed capital.

The angel investors, in many ways, were the guardian angels for these businesses.

They helped the business thrive and grow at a gradual pace.

But business dynamics have come a long way from Broadway Theatres.

Today Silicon Valley is thriving with an unending line of budding entrepreneurs.

They all have unique ideas and lots of enthusiasm.

But often it is these angel investors who help give wing to their business.

But unlike Venture Capitalists, just the extent of return on investment is not their only motivation.

They do not invest in the business because they expect exemplary returns.

Often the enthusiasm and perseverance of investors motivate them the most.

That in many ways becomes a greater and more important factor that drives their investment calls.

The angel investors, as a result, do not follow any set norms for investment.

There is no reason if 5 angel investors are not convinced by your plan, the sixth one would not either.

Source of Funding for Angel Investors

Angel investment is a key source of funding in the entrepreneurial world today.

If you check the fund flow in the last decade, Silicon Valley received over $22 billion through angel investors.

That comprises almost 40% of the total entrepreneurial funding.

That means angel investors are helping address financial requirements in the startup world in a big way.

They are almost one of the most active group of investors.

That makes them also one of the primary drivers of new business.

This is a very important element in the overall entrepreneurial culture.

But does that mean you have to be a millionaire to be an angel investor.

Well, quite unlike popular belief, this is never the case.

You don’t have to be sitting on a huge mound of money to invest in a business.

In fact, if you see some recent studies, many angel investors are regular professionals.

You can be anybody, a lawyer, doctor or just about anybody with a regular source of money.

In some instances, angel investors may invest as little as $25000 to $30000.

In most times, it is about finding the right fit as per the demands of the business.

It is not even surprising to see retired professionals parting with a chunk of their money.

The funding amount can be sometimes as high as $100000 or even more.

You may even have a group of angel investors coming together to fund a specific business.

Needless to mention, the ease of connecting with angel investors also helped a lot.

This has drastically boosted access to them in a meaningful way.

It has made them more approachable and enabled entrepreneurs to look for them a lot easily.

It has kindled the possibility of getting funds a lot easier than through banks.

SEC Norms for Angel Investors

Though your willingness and access to funds is sufficient for you to be angel investors, you have to adhere to some norms.

The US SEC or the Securities Exchange Commission have outlined some essential requirements.

These guidelines are useful for both the investors and the entrepreneurs.

These ensure that there is a distinct amount of accountability in terms of taking money.

Neither can professionals use this medium to get rid of their illegal funds nor can entrepreneurs hoodwink gullible investors.

The US SEC has some strict measures for who can be accredited investors.

They need to have an annual income of $200000 and a minimum $1 million net worth.

That is what essentially makes these investors accredited.

This accreditation gives them the right to deal with securities that are not registered with financial bodies.

Apart from income and net worth, there are other means of winning accreditation as well.

You can have a professional qualification to win the accreditation.

Alternatively, your governance status may also give you the right to invest.

This essentially means that these investors are more financially savvy than the rest.

They also need a much lesser degree of protection and handholding.

That makes them relatively more self-sufficient investors with a greater degree of reliability.

Often businesses turn to these accredited investors or angel investors for low-cost funds.

Raising capital can be a somewhat costly affair.

In this context, businesses find it a lot easier to contact accredited angel investors.

Regulatory authorities will then verify the credentials of the angel investors.

These investors should be well equipped in terms of financial dealings.

In the sense, they must be capable enough to gauge the risks involved in a financial investment.

So a result, they will be able to calibrate the risk too.

How to Connect with Angel Investors?

But even understanding of the SEC accreditation does not sort out the availability issue.

I may have a great business plan and a niche idea.

But that is not always sufficient to land with the right set of investors.

You may have to deal with many rejections before you are accepted.

You may have to tweak your presentation as you keep addressing a fresh set of investors.

There are times when you may approach an angel investor in a very unconventional fashion.

But the fact is that the internet has surely eased the access to angel investors.

It has become much easier to contact them over an extended period.

Moreover, the internet has also expanded the reach of angel investors.

They are no longer limited by their geographical boundaries.

You can be in the United States and still manage to fund operation in Vietnam.

Provided the due diligence is undertaken properly.

Of course, this has meant that even for entrepreneurs, it is much easier to look for entrepreneurs.

They can approach potential angel investors through a wide range of options online.

There are associations online and entrepreneurs can even choose to contact the angel investors directly.

There are many web conferences and webinars.

Interested entrepreneurs can easily participate in these and look for potential investors.

Moreover, the internet also facilitates easy access to a wide network of angel investors.

That means you are not connecting with just one but a whole group of such investors.

That surely improves the chance of accessing funds a lot easier.

It also improves the potential of getting an investor easily.

The angel investors also find the online set-up way simpler to look for potential targets.

This surely enhances the quality of funds and probability of good businesses thriving.

1. Contacting Angel Investors

Therefore contacting appropriate angel investors is often the biggest challenge.

One of the most common sources is undeniably rich individuals with enthusiasm for new projects.

You can approach them with the business plan and then take things forward based on the response.

The other easy alternative is undeniably the angel investors’ syndicate.

These syndicates work like Chambers of Commerce and are extremely well networked.

That will mean that you can easily approach these syndicates for potential investors or contact others through their network.

Referrals are also an easy way to look for them.

Most importantly there aren’t different investors for different fund limits.

The best thing is there is no upper or lower limit; you can approach them for any amount of investment.

Sometimes angel investors may themselves look for potential targets.

They can appoint professionals too in helping them zero on targets.

Given all these factors, the online network comes in very handy.

It undeniably improves the opportunity and ability to contact angel investors a lot faster.

Whether you approach them individually or through a syndicate, it is way simpler for them.

Crowdfunding is another common source of getting angel investment.

The fact that you can invest as little as $1000 through it further makes them viable.

But here too internet networking plays a crucial role.

If you just type in angel investment online, a plethora of options will open up.

But looking for the online is often as tricky as offline.

Don’t just look for the money you are getting.

You also need to pay careful attention to the kind of managerial role they are looking.

Angel investors and business opportunities are practically lurking in every corner of the virtual world.

But making a wise choice is very important for properly initiating a thriving business.

2. Thorough Research Is Important

That means when you are looking for angel investors online, thorough research is crucial.

Often that is one of the biggest differences between a successful business and a mere concept.

The digital empowerment has undeniably created better opportunities.

But at the same time, it has also increased the possibility of foul play.

Only thorough research offers a fairly dependable solution that can yield a long-term profit.

The Internet has now enhanced the reach and degree of assistance that angel investors can offer.

That is why you have to be very careful about the type of choice you make.

There are many websites that are created potentially to reach target businesses.

Entrepreneurs can approach these sites online and apply for funds.

They can share their plans and strategies in a constructive manner online.

Some websites are even geared properly to submit plans or organize meet-ups.

In some cases, even when angel investors may not accept your plan, they can forward it to relevant investors.

So the online association helps entrepreneurs in reaching a larger network of entrepreneurs.

You should look for possible syndicates online as well.

The online syndicates are more effective in getting you the right opportunity a lot faster.

This is because the internet is not restrained by geographical limitations or time issues.

Here businesses can happen at any time of the day and any possible hours.

So the internet does not just broaden opportunities, it speeds up the funding process to.

That is another major advantage of looking for angel investors online.

You end up losing a lot less time than otherwise.

Therefore, on the whole, it facilitates better opportunities a lot faster.

That is one of the key reasons why entrepreneurs are looking for angel investors online.

However, caution at every stage is crucial.

3. Identify the Proper Groups

However, there is one basic problem with the online search.

There is no guarantee that you will get in touch with the right group at the first chance.

The question then is how do you ensure that your search is on the right track?

The best way is to branch out your online research.

It is not just sufficient to look for angel investors online.

The chances are you will take a long time to identify the right ones.

Most active angel investors maintain a very low profile.

This is exactly where the angel investor groups or syndicates become so important.

They are often the most important link in the entire jigsaw puzzle.

They help direct your search in the right direction.

So try to identify these groups and networks at the earliest.

Try and maintain one on one contact with as many as possible.

This will ensure that you are preferably on top of the investor’s list as well.

This will also improve the chances of more investors approaching you.

Being in touch with these groups will also mean that your visibility improves.

You are not just a potential target for a set of few investors in the United States.

People from all over the world can look at funding your business.

So that means the opportunity to make individual pitches also increase.

That is what creates a much better prospect of getting funding faster.

Moreover, these groups also give you a better sense of credibility and genuineness.

You can avoid individual traps looking to steal your business ideas.

Conclusion

The angel investors can help put your business plan on the fast track.

But looking for them online ain’t that simple.

You have to undertake in-depth research and focused study to look for angel investors.

They maintain a rather low profile, and that is why the online syndicates can be very helpful.

But remember to verify the authenticity and credibility of the angel investors you choose.

The SEC accredited investors are undeniably the most genuine angel investors to go ahead with.

How to Start a Hedge Fund

If you have significantly long experience in the financial market, perhaps it is time you considered how to start a hedge fund.

Do you look forward to the thrill of investing in financial markets; does the jingle of profit make you dizzy with happiness?

Then I am sure starting a hedge fund will help you combine your passion with a viable business opportunity.

How to Start a Hedge FundStarting a hedge fund is as much about creating a profitable proposition for your investors as it is about creating a phenomenal investment channel satisfying your need to start your unique financial solution.

Steps to Start a Hedge Fund

Here is the list of the steps you have to complete to start your own hedge fund company:

  1. Capital Is Primary for Starting a Hedge Fund
  2. Understand the Basics of Starting a Hedge Fund
  3. How Are Hedge Funds Different from Mutual Funds
  4. Selecting the Right Strategy Important While Starting a Hedge Fund
  5. Decide on the Fund Type
  6. Create a Team of Advisors
  7. Create a Fund Name
  8. Apply for the Tax ID
  9. Register Company as Investment Advisor
  10. Creating Corporate Bylaws
  11. Creating the Offer Document
  12. Promoting the Hedge Fund

1. Capital Is Primary for Starting a Hedge Fund

Starting a hedge fund is a multi-pronged process.

You will need to start your own fund, register it and then take it forward as a private investment.

Securing the required amount of capital is often the first step in how to start your own hedge fund.

You must remember that if you are not able to arrange for the adequate amount of fund, the other steps don’t matter at all. Incidentally, arranging for funds is rather tricky and often new funds find maximum resistance at this level.

I must mention that experience here does not count too much.

Even if you are a very experienced and seasoned fund manager with a consistent track record of success, starting a hedge fund is never easy.

You have to make sure that you are able to convince people to do business with you.

Therefore securing capital is one of the biggest uncertainties as you explore how to start your own hedge fund.

It is almost like the ignition of your car.

It doesn’t matter how fancy a car you have if you are not able to switch it on and drive it around.

In many ways, the starting capital provides that crucial ignition for starting a hedge fund.

If you are not able to manage this, the hedge fund can fall apart like a pack of cards.

The starting capital often creates a gateway to success for you.

Not only does it open up several channels of communication, but it also provides the fundamental push to take the hedge fund forward.

In many ways, it is the foundation stone for a sustainable business model and helps you understand how to start a hedge fund.

With the right capital in hand, you will get the confidence for starting a hedge fund and take forward your consistency and proven track record as a fund manager.

Though hedge funds have seen significant negative publicity in recent times after the recent collapse in the financial markets, they are still an exceptionally profitable proposition.

Remember that there is never a dearth of investors looking to expand their profit margins, net worth and overall investment kitty.

That, in many ways, becomes your chance to capitalize upon and take steps towards starting a hedge fund.

While there is never any dearth of opportunities, you have to explore the options about how to start a hedge fund to match this demand.

But you have to understand that before anything, you must make sure that you have the requisite capital in place.

2. Understand the Basics of How to Start a Hedge Fund

Once you have the capital in place, the next step towards starting a hedge fund is undeniably learning the basics of business.

You could be a great fund manager, but at the same time, managing your own hedge fund can be an entirely different ball.

Hedge fund is essentially a pool of money that uses a combination of multiple strategies to generate above average market returns.

It helps investors to both create returns and manage risk simultaneously.

But you must remember when you are starting a hedge fund that only accredited investors can invest large sums of money in it, anywhere above $1 million.

As you all know, hedge fund originates from the word, hedging the risk.

This essentially means reducing the risk exposure of a given investment.

The diversified investment is so designed that the downward risk in the price movement does not materially impact the overall returns from the given fund.

In fact, to achieve these gains, hedge funds at times use a complicated range of strategies that protect the downside and also maximize the overall return prospects.

So when you are looking out for information on how to start a hedge fund, various elements of the investment using stocks, currencies and economic trends need to be taken into consideration.

It does not just diversify the overall investment, but in many ways, it helps you to lock the extent of returns that you would like to preserve.

3. How Are Hedge Funds Different from Mutual Funds

As you prepare the fundamentals of how to start your own hedge fund, you have to pay careful attention to the differences between the various mutual funds and the hedge fund that you are creating.

So how exactly is your hedge fund different from the various mutual funds that are already available?

Most importantly, hedge funds are managed and invested in by a more sophisticated set of investors.

That means that while both mutual funds and hedge funds are pools of money that are managed by different fund managers, you have to understand that relatively deep-pocketed and more serious and suave money market players invest in hedge funds.

Unlike mutual funds, hedge funds are never regulated as closely by the SEC.

They, as a result, can, therefore, invest in a lot more diverse investment opportunities.

The relative risk profile is also far greater in the case of hedge funds.

The relative leverage in hedge funds is also significantly higher.

There are more options like short selling and long-short equity combinations to reduce the relative downside in the market.

While mutual funds are registered publicly and are approved by the SEC, the Hedge Funds are generally funded through the private placement route.

With the overall net worth of most hedge funds well over $1 million, the relative return scope is also much higher.

Compared to Mutual Funds, Hedge funds are significantly more illiquid in comparison.

They are typically locked in for a relatively longer period of time.

Another significant difference that you must keep in when you are starting a hedge fund, is the compensation level.

In fact, the level of compensation for Mutual Fund managers is very different from hedge fund managers.

Typically hedge fund managers receive compensation in 2-20 ratio.

This comprises 2% of the total assets as well as 20% of the profit percentage.

4. Selecting the Right Strategy Important While Starting a Hedge Fund

While looking at the various aspects of how to start a hedge fund, it becomes immensely important to select the right strategy.

Hedge Fund managers are primarily famous for the kind of returns that they can help their investors earn.

It is needless to mention that these returns are directly proportional to the success of the strategy that they can implement.

When a hedge fund manager with a track record of continuous success and relatively strong gains plans on starting a hedge fund, the relative response to it will be significantly higher.

Investors are fairly sure about the kind of returns that they can hope to earn if a specific person is selecting the investment strategy.

So when you are trying to understand how to start a hedge fund, here is a list of some of the best known and most common strategies that you can look at implementing:

– Neutral Strategy

As the name suggests, this is a strategy that helps you keep a neutral bias in the market.

This is a rather popular strategy.

In this, you buy a certain set of investment options that are likely to go up.

Now you offset the impact of this by consciously short-selling the market.

Now let’s say that the gains from the investment that was supposed to go up fared a lot better than the portion that you short sold.

The direct result would be that on an overall basis the fund would be in the money.

For investors who are worried about market crashes, this would come out to be a rather interesting strategy that can keep their gains assured over a sustained period.

– Hedged Equity Strategy

In essence, this strategy too has similarities to the above-mentioned market neutral strategy.

However, in this case, the entire portfolio is not shorted.

The shorting happens only on a select portion.

The direct advantage of this is if there was a collapse in the market at any point, the investor’s downside remains protected.

At the same time, every gain in the market would significantly add to the gains in the portfolio.

In other words, this is a strategy where you gain more when the market rises, but your loss in case of a collapse is somewhat limited.

– Global Macro

As the name suggests, this strategy is closely linked to the macro factors affecting global markets.

This is a rather effective strategy for fund managers who have a deep understanding of the various global factors, the economic parameters and top trends prevalent on a global basis.

The trick that they use to make money depends entirely on how they can read global developments.

They spread out and invest the fund in a specific manner depending on how the global events would unfold in a specific case or for a specific country.

So the essential gains or losses of the fund are dependent on the actual criterion or circumstances that unfold in the global perspective.

– Undertaking the Legal Proceedings

Deciding on how to start your own hedge fund involves a lot of other formalities as well.

Once you are through with the basic conceptualization and creating of the broad strategies of your fund, the next step is deciding on the core formalities and getting the fund up and running.

Therefore, it is needless to mention that the next key point of focus is undertaking the legal formalities to get the ship moving.

– Hiring a Legal Firm

The first and foremost step in this direction would be hiring a law firm to take the paperwork ahead.

It is almost an unsaid rule that you should establish contact with a group of experienced lawyers in the financial sector.

They should be well versed with all the regulation in the financial sector, and as a result, in constructive and pointed results.

This would mean that you would not waste time or money in unnecessary paperwork, but at the same time, all your legal formalities would be in place.

When you plan on starting a hedge fund, it is always better to go for an experienced and well-versed lawyer with Hedge Fund formalities and legislations.

5. Decide on the Fund Type

Every aspect of planning for starting a hedge fund is necessary.

Therefore, getting the fund type right is also important.

However, this will depend on the specific laws with respect to your state.

Be it limited partnerships, trust or whichever type of hedge fund variant that you would like to create; it is important to undertake detailed research in this context.

Contacting the state specific commerce department is extremely important to get the regulation details.

This will help you understand the relevant guidelines for complete details.

In case you decide to opt for a limited partnership for your hedge fund, it is important to realize that there are two parts to it.

It will either be a general partner who acts as the business manager and is liable for all loans or corporations. In the case of corporations, they become the general partner.

In this case, the limited partners, however, are not liable for any loans undertaken by the company.

A firm decision on the fund type can go a long way in influencing the overall investment strategy and operational dynamics of the hedge fund that you are planning to start.

It also eases out the regulatory formalities associated with the hedge fund.

6. Create a Team of Advisors

Planning and preparation of how to start a hedge fund invariably need to include a team of trusted advisors.

Remember the success of any hedge fund invariably depends on the quality of the team that you put together.

Remember it is rather difficult to sell the hedge fund to investors without creating a substantial track record of success.

This is exactly where a team of trusted and experienced advisors can make all the difference.

While the hedge fund might be new, there is absolutely no doubt that the credibility of the team can go a long way in establishing a distinctive identity for the hedge fund.

Additionally, the team of advisors that you select also needs to be dynamic personalities.

Their interpersonal relations, vision about the future and passion in the present plays a key part in furthering the business prospects in a comprehensive manner.

7. Create a Fund Name

Think about the time you named your child.

The tribulation and turmoil that you went through in selecting the most appropriate name.

Well, starting a hedge fund is no less momentous.

So be very careful about naming the hedge fund that you are creating.

Think about a name that is catchy, sounds dependable, extremely stable.

It should be a serious and reputable name that will sound convincing to your investors.

Additionally, the name would also need to promote the image of the concept that you are creating.

In the context, it is always important to connect the name to the core investment strategy of your hedge fund.

In many ways, the name of the hedge fund should take forward the vision that the hedge fund was conceptualized with.

8. Apply for the Tax ID

In a stepwise progression and preparation of how to start a hedge fund, the next step involves applying for the tax ID number.

According to the US regulation, you need the Federal Employer Identification Number from the US Revenue Department, Only then can you begin operations seamlessly.

Applying to the IRS is no big deal either.

You can easily fill the form online on the IRS website.

You don’t have to pay anything to get this ID number either, and the process takes barely a few minutes.

Getting this number is not just important from the regulation perspective, but it is also relevant in lending better credibility to your business model and attracting more investors.

9. Register Company as Investment Advisor

The next step in your plans for how to start a hedge fund is another regulatory formality.

You have to register your company with the US Securities Exchange Commission as an investment advisor.

However, the precondition is that you need to have at least 15 investors associated with the fund.

According to the law of the land, all potential advisers also have to apply for Uniform Investment Adviser Law Examination.

A basic three-hour test, it probes your understanding and basic knowledge of the various securities laws and their implementation in the Hedge Fund market.

– A Corporate Partner

When you are starting a hedge fund, there are two ways you can structure a fund.

You can either be the sole proprietor of the hedge fund that you have created or create a corporate partner.

Of course, when you make a corporation with your partner, you reduce your own liability to a large extent.

In this context, you must remember that in limited partnerships, all obligations of the business and liabilities are with the general partner.

However, in the case of a corporate partner, your personal assets are saved if there is ever a legal dispute on any matter.

The corporation becomes the legal entity responsible for the business.

However, this process should be completed in the presence of a lawyer ad completely with legal guidance.

Creating the separate identity gives the hedge fund relatively greater credibility and a better leeway to deal with the legal complexities.

Creating the separate entity also results in a relatively smooth functioning of the entire operational matrix of the hedge fund.

10. Creating Corporate Bylaws

The process involved in how to start a hedge fund is never simple.

There are innumerable formalities associated with it.

Your firm has to work on compiling a unique set of in-house rulebook to move forward. Some of the most commonly used by-laws include:

  1. Compliance Manual
  2. Ethics and code of conduct
  3. List of supervisory norms
  4. Portfolio agreement

11. Creating the Offer Document

One of the basics of how to start a hedge fund is undeniably being able to sell it to your investors in a convincing manner.

One of the simplest ways to attracting investors to your hedge fund is by creating a set of document that clearly spells out the various rules, regulation and vision of the fund.

It clearly states the goals of the investment and can often be considered the prospectus of investment tool.

In many ways, we can consider the prospectus as the key document that protects the hedge fund too.

This is because it clearly states the terms and conditions of operations.

It also states the liabilities and losses of investors in very clear terms.

Additionally, it gives details of the various strategies that would be implemented by the hedge fund.

Therefore, there is no scope for ambiguity and the hedge fund is literally an open book to its investors.

However, this memorandum or prospectus is not an option for the hedge fund.

The regulatory body makes it a mandatory provision, and it is important to make sure all necessary disclosures are made.

12. Promoting the Hedge Fund

Last but not the least important, when you are looking to explore options about how to start hedge fund on your own, you need to actively promote the hedge fund.

This is the only sustainable way to generate capital and take forward the concept.

So as we draw to almost the last step in how to start a hedge fund, we kind of harp on the most important and first step of the whole process.

In short, promotion is as important to starting a hedge fund as generating capital for it.

In many ways, seeking capital and promoting a hedge fund operate in a symbiotic fashion.

Promotion often is the most refined form of salesmanship to create the necessary eyeballs to garner that interest amongst the investors who would eventually pump in the money necessary to sustain the hedge fund.

Your promotion campaign normally focuses on some key factors:

  1. The key factors contributing to your success
  2. The reason why your hedge fund offers superior opportunities
  3. The return target and potential offered by your hedge fund strategies.

In short, your promotion campaign is all about bringing in maximum value to your hedge fund execution implementation and final potential.

The idea is to create sustainable value over the long-term ad take it forward to the end users eventually.

As the old saying goes, nothing attracts success like success itself.

When investors get to know of the track record, the average success rate of your fund and the talent and expertise of the partners and employees that your firm recruits, they will be more convinced about your venture.

You can even offer incentives to your investors in the initial phase.

However, you must keep in mind that you are not breaking any regulation guideline in the process of offering marketing incentives to your investors.

This will serve a dual purpose.

While on the one hand, you are more prone to win over your customers and potential investors through the incentives, you can be sure of not rubbing the legal administrators the wrong way in any possible manner.

Try and use the online channels for active promotion of your hedge fund.

The biggest advantage is that you can be rather dynamic with your promotion plan.

The online presence will give you more flexibility, and more and more people get to know the product that you have created.

We mentioned how sometimes more than the product, it is the person who created the hedge fund which attracts more attention.

Sometimes, the product might be new, but investors have trusted a specific fund manager for years, and often the above average response seen by many new hedge funds represents this fact quite appropriately.

Conclusion

Therefore, we can conclude that the process involved in to start your own hedge fund is systematic and methodical.

Of course, you might find it rather painstaking to proceed in such a step by step manner, but the fact remains that it helps in creating meaningful gains.

The sustained recalibration of the investment rationale and objectives make sure that customer interest is never compromised with.

Raising capital, promoting the products and providing the marketing team with the promotional material form the three main pillars to take forward the investment module in a constructive manner.

Starting a hedge fund often needs sustained patience, diligence and absolute precision.

Investors need to have a clear picture of the vision and financial goals of the hedge fund.

This single-handedly makes sure that maximum possible interest is garnered for the new and successful investors as well as seasoned veterans.

This improves both the return potential as well as the reach of the visa department.

The Top Small Business Loans Companies

As the economy emerges from the sub-prime crisis, it is one of the best times for small business loans.

Entrepreneurship is on the rise, job opportunities are again opening up, and business is growing.

The environment is just conducive to the growth of small business.

However, for many budding entrepreneurs, the fund crunch becomes a roadblock.

In the absence of adequate resources, even the best of plans can absolutely fall flat.

The lack of money limits any opportunity quite significantly.

This is exactly where small business loans come to play.

small business loansThey typically provide entrepreneurs with the seed capital to start their business.

Whether it is for buying equipment, land or inventory, a small business entails a truckload of expenses.

Statistics indicate that nearly 70% of new enterprises use these crucial small business loans.

This includes everything from loans to credit cards to crowdfunding and even venture capital.

In fact, one NSBA study highlighted that small business loans form an important part of the economy.

According to 2015 data, small business loans totaled more than $600 billion.

But the problem is these loans are not that easy to procure.

Often securing a small business loan can be a rather uphill task.

It can entail a series of paperwork, adequate credit score and a proper business plan.

But thankfully, today you have a lot of different types of small business loans.

While the traditional bank loans still work, there are many other options too.

You can choose online lending platforms, peer to peer lending and opt for business credit lines.

Based on the needs of your business, you can select the best possible opportunity.

The terms and the facility provided by the small business loans is what is crucial.

That will decide the loan viability.

Top Banks to Apply for Small Business Loans

Here is the list of the banks that offer small business loans:

  1. Wells Fargo
  2. JPMorgan Chase Small Business Loans
  3. Bank Of America Small Business Loans
  4. SBA Loans

Let us first explore the most traditional small business loan avenue, that is the bank.

Typically, banks are the first stop for any type of financial requirements.

Banks provide a wide range of small business loans.

Types of Small business loans

– Term Loans

This is essentially a lump sum money that a business can get from a bank. The entrepreneur has to pay back this amount within a fixed tenure.

They also have to pay a certain amount of interest for this loan.

The terms of this type of loan vary from one situation to another.

It will primarily depend on the nature of the business and how you wish to take it forward.

– Line Of Credit

This is how a credit card loan works in personal expenses.

It is a unique business financing arrangement.

The lender offers you funds with an appropriate line of credit.

So you can use these funds whenever you need capital in your business.

This is a very flexible arrangement for new or small businesses.

– Equipment Loan

As the name indicates, these loans are specifically to buy equipment.

So, an entrepreneur can look at dividing their total loan liability into a term loan and equipment loan.

This can reduce the interest expense to a large extent.

The loan amount gets divided, and you can easily go for multiple loans.

– Invoice Financing

This is a particularly useful arrangement to address the cashflow issue.

When you have too many invoices that are pending and will be paid, you can use this method to address the fund crunch.

Basically, you are selling the unpaid invoices to secure funding in the interim period.

Normally lenders may pay about 70-80% of the invoice upfront and the rest after getting actual payment.

Therefore, a small business can apply for any of these.

1. Wells Fargo

Wells FargoThere are many reasons why you may want to apply for small business loans from this bank.

You may often hear Wells Fargo addressing itself as “America’s leading small business lender.”

But this is not just a mere promotional line.

If you check the statistics in the past few years, this indeed holds true.

Wells Fargo bank has been consistently lending significant chunks to small businesses.

In 2015 alone, they lent close to $35 million as small business loans.

These loans were extended to companies with less than $20 million in revenue.

This is part of the bank’s 5-year commitment towards the growth of small businesses across the country.

Wells Fargo has undertaken this pledge in 2014 and hopes to lend $100 billion to small businesses in all.

Just like any conventional bank, Wells Fargo offers a gamut of finance options for its borrowers.

So as an entrepreneur, you have a wide range of choices to look at.

The nature of your business and your own financial state will have a key bearing on the overall situation.

But two of their most effective and popular small business loan includes

Unsecured Business Loan

It offers capital anywhere between $10,000-$100,000.

The term for these loans too varies between 1-5 years.

Depending on the amount and credit history, the rate of interest starts from 6.5% and can be as much as 23%.

Since it is an unsecured loan, you will not have to include any collateral in case of this loan.

Unsecured Line Of Credit

You get a credit line of $5,000-$100,000.

The rates for these could waver around 1.75%.

These too don’t need any collateral.

So it is a quick loan opportunity with minimum risk included.

If you don’t want to risk your personal assets, this is a great option.

2. JPMorgan Chase Small Business Loans

JPMorgan Chase Small Business LoansThis is another popular destination for small business loans.

With an asset reserve of over $2 trillion, this is among the three best banks in the US for small business loans.

As per early 2015 data, it has lent over $19 billion in small business loans.

Convenience for entrepreneurs and ability to address the requirement of small businesses is the key consideration.

You must remember that this bank has revived from the lows of 2008 on the basis of a focused lending initiative.

Needless to mention that many budding entrepreneurs benefited in the bargain as well.

Among the loans on offer, there are two that are absolutely tailor-made for small business.

These include

Business Quick Capital Loan

The bank offers this loan in association with the online lender, OnDeck Capital.

This loan processing depends heavily on Chase’s huge asset base and speedy underwriting by OnDeck.

As a result, entrepreneurs have a quick, convenient and affordable financial alternative for them.

The rate of interest is also typically a notch lesser than what most online lenders charge for this.

However, you can avail this facility only if you are in the JPMorgan Chase business network.

Business Credit Card

Though you may not consider this as a traditional bank loan, it is a financing solution no doubt.

The Chase Ink Business Preferred Credit cards come with their unique set of advantages.

Given the dynamic nature of modern businesses, many times, these cards get used like loans.

The additional advantage is that the processing time and qualifying conditions are significantly flexible.

As a result, an entrepreneur can easily resort to this measure when they need some handy and quick capital.

Along with this credit cards, cardholders also get access to business checking accounts.

This provides further flexibility to entrepreneurs.

3. Bank of America Small Business Loans

Bank of America Small Business LoansThis makes the powerful banking trinity of United States when you are looking for small business loans

One of the best banks to undertake transactions with, it is one of the foremost in terms of lending to small businesses.

In terms of sheer capital lent, they are second with a stupendous record of $33 billion small business loans thus far.

Small businesses need access to this type of quick and convenient capital.

The terms of payment make it even more attractive.

All in all, these loans encourage effective implementation of a business plan.

– Unsecured Business Line Of Credit

This is undeniably one of the best solutions when you are looking for small business loans.

You may consider that all line of credit will operate at similar terms.

But that is not so when you consider the Bank Of America Unsecured business line of credit.

The credit line ranges from $10,000-100,000.

Like the Wells Fargo one, it is also a flexible financing option with no collateral required.

The bank does not set the rate of interest upfront in this case.

This interest rate is based on your eligibility criterion and also previous interaction with the bank.

For example, if you already have a business bank account with BankAm, you can look at getting loans at a lower rate of interest.

There are several relationship-based offers that you can take advantage of.

But you can apply for this credit line only if your business is operational for at least two years.

Moreover, the bank will also take into account your revenue generation capability.

You have to gross an annual revenue of at least $100,000 in the year before applying for the loan.

That is an important eligibility criterion for BankAm’s unsecured credit line.

4. SBA Loans

When you are looking for small business loans, it is hard to ignore SBA loans and grants.

They decidedly play a crucial role in furthering the small business and facilitating their operation.

SBA stands for Small Business Administration.

It is essentially a Government supported organization that supports small business and facilitates funding for them.

They offer a series of loans and guarantees to further the interest of small business.

These loans are generally executed by SBA approved commercial lenders.

In this case, the SBA guarantees close to 85% of the loan amount.

The loans could be for as much as $150,000.

When the loans are for $500,000 and more, the SBA guarantees 75% of the loan amount.

This also reduces the level of risk associated with a specific loan they guarantee.

Here is a quick run through of some of the most popular SBA backed loans.

– 7(a) Loans

These are by far the most popular, flexible and simple loan offerings from SBA.

The rate of interest on these loans is also much lesser than many other offerings.

You can look at incorporating these loans for generating working capital or new building construction.

You can also use it to fund renovations of any type or expand current facilities or business prospects.

However, there are some pre-conditions associated with these loans.

You must carefully look at details before signing on the dolled lines.

– Express Loans

In this case, you can get a loan processed very fast.

Often borrowers can expect the loan sanction within 36 hours of putting in the application.

In this case, you can apply for a maximum of $350,000.

The Small Business Association guarantees 50% of these loans.

The maturity for these loans can vary from 5-25 years.

Most times it depends on how the money is used.

– SBA’s Microloan Program

There is another unique opportunity offered by the Small Business Association.

This is named the Microloan program.

Businesses that are just setting up or expanding can easily make use of this loan facility.

In this case, as the name indicates, you can get loans up to $50,000.

You can use these loans for a variety opportunities like generating working capital or buying equipment.

You can even use these Microloans to pay off short-term loans or reduce interest expenses for your businesses.

A small business loan can be used to address a whole gamut of financing requirements.

Debt refinancing can be a purpose as well for these loans.

The SBA basically works in tandem with the designated commercial lender they approve.

They make funds available to these lenders.

These are primarily non-profit organizations that support and manage this unique microloan program.

The average loan amount, in this case, is about $13,000, and repayment is done in about 5-6 years.

The repayment terms may not be same for all businesses though.

Individual credit condition and business viability pay a crucial role in it.

How the fund is being planned to use also has a bearing on the overall repayment asked.

Alternative Funding For Small Business

But apart from these, there are many other options to procure small business loans now.

They can be direct online lenders or peer to peer lenders.

They all provide easy cash to small business with limited interest rates.

Most importantly, most of these are geared to encourage the growth of small business.

Peer-to-Peer small business loans

Peer to peer lending generally incorporates a pool of fund.

The borrower digs into these pools to address any sudden financial need.

These peer-to-peer lending facilities often screen the borrowers very closely.

As a result, the relative risk involved is much lesser.

Most importantly, the screening also ensures the significantly lower rate of default.

That makes this service popular too.

Online Direct Lending

The basic difference with peer to peer lender, there is no third party investor here.

The lender is funding your business using their own capital.

As a result, these loans can be often processed in a very short time.

The paperwork involved is much lesser in these online direct lending facilities.

Generally, the time required to secure these loans is much lesser than most other loan facilities today.

However, the APRs may be much higher in this case, when you compare with peer-to-peer lending.

The average loan amount that you can apply for ranges from $20,000-$500,000.

The loan term averages 1-4 years.

However, most of these loans are for a shorter duration.

But when you are applying for small business loans, you must remember that these are predominantly for established players.

If you are just starting your business or plan to do so, they may not always offer the best terms.

The higher APR amount remains a constant irritant for those looking to reduce their interest expenses.

This is for low hassle sudden monetary requirement for small businesses.

Conclusion

Given the revival in economic conditions, it is not difficult to procure small business loans.

But the point is you must keep in mind your state of business and years of experience.

Typically a small business that is operational for a few years with proven revenue records can get loans a lot easily.

However, for first-time entrepreneurs who are just starting their business, the going can be tough at times.

So you must undertake thorough research before deciding on any small business loans.

You must opt for the loans that offer you maximum value at minimum interest.

For best results, always go through the fine print of the small business loans you apply for.

How to Start a Small Business

To start a small business segment now commands a massive chunk of market share.

After the devastating economic bloodbath in 2008, we have seen a significant jump in entrepreneurship.

Part of it is due to the sheer necessity to generate income.

Reducing job opportunities also led to a rise in small business.

In United States alone, there are over 28 million small businesses.

According to the Small Business Administration, they comprise nearly 99.7% of total US businesses.

That is why more and more people are keen to start a small business.

But simple as it sounds, the basics of how to start a small business is rather complicated.

After all, no business develops overnight.

It is inevitably a slow and steady process.

But the key point is that a systematic plan of action is important.

If you plan to start a small business, you have to bring together the various facets in perfect harmony.

You have to carefully nurture the business like a little sapling.

The slightest of miscalculation can severely affect the sustainability of the concept.

So the most important aspect is to guide your business towards success.

That will ensure that you can create a long-term proposition.

When you take the plunge and take up the challenge to start a business, eye for details is most important.

From concept to how you market the product, limited resource is often the bane of small business.

But with a little bit of planning and foresight, you can make this an asset.

Statistics indicate that only two-thirds of total small business survive beyond first two years.

Most times, the starting is what matters most.

So we decided to create this ready guide of how to start a small business.

It gives you a systematic ready-made road to success.

How to Start a Small Business

So here is the steps to start a small business:

  1. Research Is Important
  2. Create A Business Plan
  3. Organizing The Finances
  4. Look Out For Business Grants & Government Help
  5. Creating The Right Business Structure
  6. Decide & Register The Name Of Business
  7. Look For Licenses
  8. Create Your Team

Step 1- Research Is Important

This is the first step in any successful plan on how to start a small business.

I am guessing you have already identified the business idea.

But research will help you get a reality check.

The research will help you understand the kind of reach your small business can generate.

If you have not thought about the concept yet, research can help you finalize that too.

It can help you identify some key profit-generating ideas and how you can implement them.

Moreover, does your idea have the strength to succeed?

Well, one of the most significant benefits of research is you can explore the possibilities in depth.

Is your idea solving a problem?

Can the small business you plan to start help address a problem?

Research helps you to explore this fact in several ways.

You have a realistic view of the competition that you may face.

That is a critical aspect of any business.

The extent of competition goes on to determine how successful can you be.

Moreover, it can help you decide whether or not to go ahead with the idea.

For example, if research indicates that there are already 10 operators in what you are planning to launch, you can take a call.

You can either look out another opportunity or plan to change the area of operation.

The location in which you operate a business is also crucial.

The detailed research will help you identify the most profitable areas.

You can then easily look to cash in on the opportunity to promote it further.

Whenever there is natural demand, it is always easier to promote a business.

You get an advantage, and as a result, resource mobilization too can be moderated.

That surely gives you a head start in your small business.

Step 2: Create A Business Plan

A good business plan is almost a necessity when you are exploring how to start a small business.

Once your research is complete, creating a business plan is the next logical business.

In fact, when you plan to start a small business, this is a very important step.

A good business plan generally lays the foundation of a great business.

The business plan is what helps implement your thoughts in reality.

So you often refer to it as the blueprint for your business.

This is what will help to start a small business in reality.

The progress of your business is charted out in the business plan.

When formulated correctly, entrepreneurs simply have to execute this plan effectively.

The rest, as they say, is history.

Different types of business plans are useful for different businesses.

Therefore, just creating a plan is not sufficient.

You have to identify the most effective business plan that suits your business model.

The business plan is necessary for not just charting the growth strategy but many other elements too.

For example, if you need financial help or looking for investors, this is a necessity.

The business plan, therefore, becomes the crucial lifeline for a sustainable small business.

But don’t underestimate the whole effort in creating the business plan.

It is never wise to simply download a template and fill it up.

For example, when you are approaching investors, a one-page plan will not work.

It needs appropriate clarity and reference to the context for effective solutions.

Moreover, the type of business you are in may also dictate the business plan.

But, all in all, if you want to lay the foundation of an effective small business, you have to make a proper plan.

That will alone help you to get an edge.

Step 3: Organizing The Finances

This is the next important step when you are exploring how to start a business.

You may have a killer concept or a rocking business plan, but without money, it is of no use.

So organizing the finances is very important for an effective start to your business.

Whether you have your own investments or you are planning to get an investor, you need clarity in your concept.

Let us understand that there are many ways of organizing the finances for your business.

You can apply for a bank loan or approach your family or friends.

You may also look at mortgaging assets like a house or jewelry to raise funds.

The other option is of course roping in investors for the same.

But whatever you decide on, you need to follow a precise and well-formulated plan.

For that, you have to analyze the cost involved.

Businesses have capital expenses, need working capital and many other requirements.

So you have to create a comprehensive spreadsheet with these.

That will help you garner meaningful advantage and also improve the overall sustainability.

That will have to be detailed, so all the required expenses are covered in this list.

It also needs to account for expenses for licenses, marketing and brand promotion.

All in all, even if it is a small business, it needs a lot of money.

If you don’t plan well and allocate better, the sustainability of the business becomes a concern.

Whenever you are exploring how to start a small business, this is an important consideration.

For any kind of results, you have to run the business smoothly for at least a year.

So that is the amount of money that you need to arrange for before you start a small business.

Step4: Look Out For Business Grants & Government Help

Most state and Central governments, the world over, have business development initiatives.

Different types of grants may be available for different sectors.

Moreover, in every sector, there is some fund allocation to encourage business initiatives.

Now when you are looking for funds, it is a good idea to look out for these grants.

As they are Government sponsored, they may attract a lower interest expense.

You can also latch on to the advantages of Government sponsored funds.

Apart from that, Government grants also can give a business a lot more visibility.

It also helps build a degree of credibility to your business.

It can help you attract a larger customer base and create a convincing growth strategy.

Most importantly with a few grants in place, the need to look for fresh investors also reduces.

That means the shareholding structure of your business does not get diluted too much.

When you rope in investors, you are also answerable to them.

You may have to incorporate their views, and your original concept may become redundant.

However, a business grant easily addresses all these concerns in one straight go.

Apart from Government aids, many private organizations may also offer grants.

The idea is to keep a meaningful watch for all these opportunities and make the most of it.

These opportunities may need some research.

You may have to scour through pages of various departments to zero down on the best options.

That means you need to allocate time and invest energy towards this end too.

Apart from it, the business grants also need an expansive and striking business plan.

So you can see proper research, financing and an effective business plan are all related.

You need to keep a close tab on all of these.

Step 5: Creating The Right Business Structure

In the plan about how to start a small business, this is the next most important step.

The right business structure will provide an appropriate fillip to your small business.

Now this will again depend solely on the type of business you are launching.

The nature of funding too has a bearing on the overall business structure.

The sole proprietorship business is one of the most popular structures for small business.

In this, you shoulder all responsibilities and pocket all profit from the business.

The partnership is a popular option when two or three friends or family members pool in their resources.

A LLC or a Limited Liability Company is another popular business structure.

This is more commonly seen in case of large corporates and has a relatively complex shareholding structure.

Your liabilities and how you plan to file the taxes are important.

That too plays a crucial role in helping you decide the structure for your small business.

However, the structure that you choose initially can also be changed eventually.

You can re-evaluate your business at a later date and take a call to restructure it as well.

It all depends on how you want to distribute liabilities and profit.

Certain business structures have a distinct tax advantage over others.

So, all these elements will play a role in helping you decide on a structure.

The degree of complexity in your business will dictate the final structure.

You can always take help from your legal advisors and CPA for the best results.

They are best placed to explain the liabilities and advantages of each structure.

You can take into consideration all these factors before deciding on the final structure.

You need to look at preserving profit and minimizing liabilities.

Your business interest is primary.

Step 6: Decide & Register The Name Of Business

This is perhaps one of the fun elements of starting a small business.

But that does not undermine the importance of this step.

Naming a business is a crucial move.

After all, the business will be known by this name.

Sometimes the right type of name will help in the initial deluge of customer response.

Though you may say that the quality is what matters finally.

But the naming of a small business is equally important.

It is that important factor that gives a sense of identity and branding to the overall business.

When you start a small business, be sure of the name you want for it too.

You must make sure that you think through all the potential implications.

Therefore a comprehensive analysis of all probabilities is crucial.

But selecting a name is not just enough.

It is also important to follow proper procedures in registering it.

In the absence of proper registration, the credibility of your small business may suffer.

Look out for all possible options and choose the ones that have the best impact.

Registering for an online domain is also important.

In today’s era, a small business can benefit a lot from the internet exposure.

Be it for promotion or branding; the online exposure can limit these expenses significantly.

So don’t just go for an offline registration.

Make sure that you also create a website and register your business online.

That will help improve the visibility and also address marketing and promotion interests better.

Step 7: Look For Licenses

Proper legal compliance is a necessity for any business to succeed.

Before you start a small business, it is important to get all the paperwork done.

That will help you start with a smooth and hassle-free note.

This will also ensure that there is no unnecessary interruption in your business.

Paperwork is a part of the process when you start your own business.

Normally a small business can attract a variety of permit and licenses.

Depending on the type of business that you have, you need to identify the right ones.

The start-up process in any small business is very crucial.

It does not just set the tone and tenor of business but also the future prospects.

Proper permits and licenses are also crucial in building a level of credibility to your business.

Therefore, this too is a crucial step in how to start a business.

Step 8: Create Your Team

The next step is getting the manpower in.

That is decidedly one of the most important elements for perfect execution.

Without the right team in place, you cannot start your small business properly.

You can directly recruit people through your network of associates.

You may also want to advertise and organize interviews before short-listing the final team.

A lot of it will be dependent on how your funding comes through.

After all, advertisements and interviews will involve expenses.

Moreover, when you start a small business, you may want to go with individuals with a proven track record.

You can also look at outsourcing the work to third-party contractors.

But that will depend on the nature and type of small business you are launching.

All in all, you have to look at creating a meaningful base of dependable employees.

Conclusion

Therefore when you plan to start a small business, it is a labyrinth of many processes.

The plan does not just end by starting the business.

It continues even after that.

You have continuous exercises and expenses like running an ad campaign, product marketing and brand promotion.

So you have to build a comprehensive plan of how to start a small business.

That alone will help you create a profitable and successful small business.

Now that you are thinking about running a small business, I can offer something better to you.

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What Is the Gold Price per Gram and How Do They Determine It?

The gold price per gram is a complicated concept.

For an average consumer, this entire concept can appear to be rather complex.

Determining the gold price has many aspects associated with it.

It is never just about one standalone price matrix that affects prices.

Gold is one of the most extensively traded commodities globally.

The daily trading volumes easily exceed 300,000.

Moreover, it trades both in the futures market as well as in physical form.

Gold is available in a variety of purity as well.

So, pricing gold is not that simple either.

There are many factors that play a role in the final price discovery.

The yellow metal is, after all, one of the most expensive metals in the world.

Often the gold price has a huge bearing on the overall market forces and average economy.

It is also a popular hedging tool for gold buyers and users.

In this condition, it is imperative to understand what sets the average gold price per gram.

What is particularly striking is that the gold price can differ from region to region.

Gold Price per GramTherefore, understanding how the pricing is determined is crucial.

After all, this is what will help you create a solid basis for your investment.

Another interesting aspect is what pricing you should follow?

Should you go by physical gold rates or paper rates?

Often when you look up for gold prices, you come across spot rate.

Often investors are worried if they should follow this rate.

This is because the physical rates are not same as paper rates.

So as an investor it becomes crucial to understand all these separate pricing triggers.

That alone can help you in assessing the gold price per gram properly.

Understanding the International Gold Pricing Standards

The international gold price is perhaps the most popular gold rates globally.

Be it the television screen, the stock market ticker or rates on international websites; it is this rate that you see being flashed.

Essentially you will prices of gold for one troy ounce unit.

The gold price per gram is derived from this.

The troy ounce approximately 31 gm.

This is generally the rate of gold in the international markets that are trading 24×7.

Gold is traded continuously without a break in this market.

This rate is most commonly referred to as the spot price of gold.

It is normally in dollars per troy ounce.

That invariably create a certain degree of standardization for users world over.

But it may not be the physical price of gold at a given instance.

It can be the spot trading rate sometimes, and at other times, it may refer to a future contract.

Invariably the front-month contracts are the ones that show maximum volume.

There is hectic trading in these contracts, and that is how they play a crucial role in eventual price discovery.

So one thing is fairly clear, the international spot rice is invariably the futures rate.

It represents the price of the futures contracts in a conclusive fashion.

You must have understood by now that broadly speaking gold price is a function of market forces.

A generic law of demand and supply is what results in ultimate price discovery.

But how does this price lead to the final gold price per gram?

Well, for this it is important to understand how the international gold pricing is finalized.

That will eventually provide you pointers on how the pricing parameters are created.

It will also help you understand the concept of following price benchmarks.

How Is the Spot Gold Price Derived?

When you are looking to determine gold per gram, this is the most pertinent point.

Series of recent data and research indicates that the spot price discovery is a joint effort.

The gold trading rates at the London OTC and COMEX are matched and then combined.

This combination of rates yields the final price details.

It is common knowledge that higher trading volumes and liquidity conditions play a crucial role.

Both these international gold trading hubs command the biggest gold trade in terms of volume and liquidity.

As per 2015 and 2016 data, London OTC spot market represented close to 80% of world trade volumes.

COMEX too sees close to additional 10% of gold trading.

But if you are wondering if the results are skewed because of the larger share of one exchange, it is not true.

Many in-depth types of research indicated that COMEX, despite the lower share of trade has a deeper impact on prices.

This is primarily due to the accessibility element in terms of trading on COMEX.

Additionally, the extended trading hours on COMEX also plays a crucial role.

Together both these elements create a deeper and wider base for more appropriate price discovery.

Moreover, compared to the Over the counter trade in London, there is greater transparency in Futures trade.

Comparatively, the London markets are dictated by a string of select and active commodity brokers.

That makes the COMEX a more meaningful and important element of the whole process.

Compared to the size of the physical bullion markets in either London or New York, these exchanges are gigantic.

That inevitably makes them crucial partners in the overall price discovery.

So both these hubs together work to bring about the spot price closest to fair value.

How Is the Final Gold Price per Gram Arrived At?

So you can now get a fair value of how the indicative price is arrived at.

The final gold per gram inevitably follows the demand-supply matrix.

The spot gold price in this becomes an indicative rate on which the physical gold rates are based on.

So when you have a greater number of buyers ready to buy, sellers may raise the price.

But the opposite happens if the number of sellers is more than buyers.

In that case, buyers inevitably look at ways to acquire gold at a significantly lower rate.

The nearest month contract dictates the spot gold price.

Physical gold price per gram is a further derivation on this crucial number.

The trading volumes, liquidity and supply-demand together work towards final price discovery.

It is the same concept how the actual spot gold price is derived.

It is primarily based on the closest contract with the most hectic trading in it.

That indicates both participation and greater volume.

Needless to mention that this will yield a value that is much closer to fair value levels.

This is why the spot gold rates are such an important element of the overall price discovery mechanism.

They represent volume and a popular perspective.

Moreover, they become a basic yardstick on which the final valuation is derived.

Because gold is not just mined in one place and you do not have one unit released at a given point.

Though predominantly imaginary, the spot gold rates give users a basic concept of value.

That makes the final price discovery more meaningful.

If you see gold is not just bought or sold as an investment opportunity, there are many other usages like industrial opportunity and of course jewelry making.

Factors That Help in Determining Gold Price per Gram

Now that brings us to the next point that we must explore.

The final gold price is undeniably a function of the market force.

But what exactly are the factors that comprise of market forces?

Well, depending on markets and regions, there are numerous elements involved in this process.

Some of the most important factors that help in gold price discovery are:

  • Physical gold demand
  • Demand for jewelry making
  • The extent of gold investment in the market.
  • Demand in the currency market
  • Central bank demand
  • Inflation and economic scenario
  • Overall risk appetite in the market
  • The geopolitical factors aiding gold demand and risk opportunities
  • Equity market conditions.

You will notice that all these elements together work towards creating the so-called gold valuation.

Whether you are looking at spot gold rates or physical gold rates, these factors remain same.

Gold investments are primarily safe haven investments.

They are predominantly an outcome of how investors perceive fund allocation to the yellow metal.

Interest rates and monetary policies too impact prices in a meaningful way.

It goes on to dictate the final demand and trading volumes.

Often they play a crucial role in overall risk appetite as well.

Both the stock markets and currency markets impact gold demand significantly.

This is because gold often comes across as an alternative investment destination.

This is why you may see gold prices appreciating in a bear market situation.

The weak dollar and strong gold combination is also an outcome of this factor.

When the opportunity cost of investing in gold reduces, its demand increases.

That, in turn, affects the pricing.

So finally, it is all about how these individual factors affect overall gold demand.

The demand-supply matrix therein gives the final gold price per gram.

Is There Any Standard Global Gold Price?

As a result of widely spread out gold trade, the pricing variations are normal.

This is exactly why the gold price per gram is so closely linked to spot gold prices.

But that does not mean, spot gold rates are uniform across the world.

The spot gold market trades 24×7.

This means that gold is being traded at some or the other market through the day.

So depending on the time zone, you may have higher volume trades in Asia, Europe or America.

The region-specific conditions will, therefore, have a strong bearing on the overall results.

But there is another important factor.

This is the currency that is used to trade gold.

You have to remember that gold is traded in different currency across the world.

So whether you are a buying a gram of gold in Japan or the United States will no doubt impact the rates.

Moreover, the spot gold rate is an open market rate.

That means it will never be same at two given points.

This price is constantly on the move.

The physical gold price is an extension of this rate.

As a result, there will be slight variation in the gold price per gram.

But broadly speaking, the variation is in a relatively narrow range.

The difference is more a function of local demand-supply.

The local currency rates too have a bearing on the broad value.

Depending on the demand, the physical gold rate may be at a premium or discount to the spot price.

But typically the gold price per gram is almost always at a premium to actual rate.

This is because the spot gold price is primarily notional in value.

It is a price assumption on the basis of the perceived valuation.

Understanding the Difference Between Spot, Future & Physical Gold Rates

Typically the gold price per gram is a function of three cardinal factors.

You have the spot gold rate, the future gold rate and finally the physically gold price.

Now each of these represents the unique gold transaction and trading markets.

Independent demand in these markets, as well as the peripheral demand, impact the final pricing.

You have to take all of these elements into consideration.

Gold is undeniably one of the most important investment opportunities in the world.

For centuries, it has been one of the best representatives of value and consistent trading alternative.

Despite the prohibitive cost and relative risk, it is still an important constituent of our portfolio.

You may hold gold in paper terms or physical form; the value is interlinked.

The spot gold rates are most dynamic in this context.

They change from minute to minute and market to market.

They are the ones that are most sensitive to the peripheral market conditions.

In many ways, they go on to create the relative price variations as well.

The rates for the gold futures in comparison is amongst the costliest.

This is again because it is a notional value of gold that is assumed on the basis of several factors.

The market predictions, the interest rate and geopolitical equation decide premium in case of Futures.

As a result, it also factors in any potential expense that may be incurred in future.

When you are buying physical gold, the price per gram will again depend on local conditions.

The form in which you are buying physical gold will also impact prices.

Coins, bars and jewelry all have separate rating parameter.

The only thing that is static is they are all derived from the basic spot value.

The Tax Impact

The gold price per gram will always be higher for physical gold.

One key aspect for this is the cost of holding physical gold.

Holding physical gold has many myriad elements added to it.

The first and foremost is the taxation part.

Many individual markets may levy a certain tax on holding gold.

So buying or selling gold in these individual markets will command a certain tax.

Now that will affect demand for physical gold.

Sometimes, governments levy these taxes to regulate the demand for gold in individual markets.

That apart, the form in which you hold physical gold can also dictate the gold price per gram.

You will typically notice that the cost of gold coins may be more than gold bars.

Again the form in which gold is traded most commonly also impacts prices.

For example, gold bars are traded more extensively amongst institutions.

But then again, gold coins are popular amongst the retail customers.

Selected countries have a far higher demand for gold jewelry.

So in these countries, buying gold jewelry can attract slightly variable rating.

Moreover, jewelers will also include the making charges at this rate.

That will also lead to some variation in the overall cost element.

Conclusion

Therefore, the gold price per gram is a function of several elements.

There cannot be any one factor that impacts prices.

Moreover, the value of physical gold in itself is a derivation of spot gold prices.

The reason why spot gold is at a discount is that it is a notional rate.

The gold valuation incorporates geopolitical situation and economic elements.

The final pricing is a combination of all of these.

But the international spot gold price undeniably impacts the gold price per gram most distinctly.

This sets the broad direction and trend of the global gold price per gram.

The remaining variations are all a function of local factors that impact gold price per gram.

Will the Gold Price Go Up Over Time?

The gold price is one of the most commonly followed investment metrics.

All over the world, you will notice that gold forms an important investment option.

Often, it is also referred to as haven investment

It offers the much-needed diversification to your portfolio.

Gold in many cases is also a hedge against inflation.

Traditionally, gold has yielded higher returns over any time frame.

So the question is how is the gold price poised for now?

The Gold Price Since 1974The gold price that way is determined by many factors.

You have to take into consideration many factors and take a constructive view.

Just like stocks, currencies and all other assets, the gold price is determined by several factors.

Both economic and geopolitical considerations have a bearing on the gold price.

While individual price forecast can differ, understanding the basic trend is important.

That is what determines how prices are likely to fare going forward.

Moreover, it will also help you gauge whether it makes sense in a certain asset.

If you follow that trend, the gold price is seen scaling fresh highs.

The prices may escalate to anywhere between $1400-2000 in the next few years.

The broad trend seems to indicate that the various factors support a reasonable price rise.

In fact, London Bullion Market Association anticipates a huge swing in prices going forward.

Between 2018 and 2019, the gold price may spike up to even multi-year highs.

Now there are several factors that are supporting this prediction.

While the actual extent of the upmove is anyone’s guess, the consensus is it is moving higher.

Analysts feel that it is a function of multiple factors that are converging at the moment.

So here is a quick look at the factors that support a rise in gold price.

Real US Interest Rates

The real US interest rates perhaps have one of the greatest bearings on the gold price.

Gold has traditionally generated positive returns when the stock markets have been lower.

Now the negative returns in stock markets are very closely linked to interest rate movement.

But by this, I am referring to the real interest rates.

This is interest rates minus inflation.

The kind of answers the question, why and how interest rates affect the gold price?

Let us understand that gold like any other investment opportunity is operated by the demand-supply matrix.

In a rising interest rate scenario, there is an always an absolute need to rebalance portfolios.

Historically between 1973-1974, Gold jumped 150% while S&P 500 dropped 40% in the same period.

This was also a period where interest rates were on the rise.

When higher interest rates muted stock demand, gold comes across as an alternative investment destination.

This is what impacts the overall gold prices to a large extent.

So it establishes our previous point of view that gold price is a function of demand and supply.

Interest rates play a significant role in impacting the broad demand.

It also affects the overall money supply in the market.

All of these together work towards moderating the market moves.

This is what impacts the final demand and hence the supply.

Interest rates also play a role in the overall inflation scenario.

Interest rates have remained low for an extended period.

According to recent predictions, the US Fed is likely to raise the interest rate.

This is what is expected to spur the demand for gold.

That, in many ways, is likely to raise the gold price to a significant extent.

But gold is a rather complex animal, and this is not the only factor.

Higher Government Bond Yields May Lead to Higher Gold Price

The Government bond yield rates also impact gold rates in a significant manner.

Globally if you notice, bond yields are on the way up.

There are also reports the Chinese authorities are reevaluating their US Treasuries holding.

Moreover, higher yields also indicate lower bond rates.

Many believe that the long-term bull market in bonds is almost over.

Bond prices have, in fact, slipped to one-year low.

When you compare even from 2016 highs, there is a significant drop in rates.

So in terms of pricing signals, a higher yield also points to a rise in the price of safe haven assets.

That suggests times for higher rates and inflation too.

Gold is often seen as a hedge against inflation.

So a higher inflation period may actually benefit gold demand and the prices thereon.

Almost invariably people are more prone to invest in gold during these periods.

That is what is expected to push up precious metal prices globally.

Apart from bonds, gold is another of the most popular safe investment destinations.

This is pointedly a key trigger to consider when you are undertaking gold price prediction.

You must understand that flight to safety is a natural human instinct.

Even in terms of investment, this fact holds true.

But if the bonds do not offer that safety net, gold is the next option.

This is why the recent high in yield rates is such an important signal.

It invariably highlights a worrying trend in bond investments.

In many ways, that is what may push up gold price going forward is.

So, this is why a higher bond yield now augurs well for gold investments in future.

It goes on to create a meaningful base for a significant rise in prices.

Bearish Trends on US Dollar Index

The US Dollar rates and gold prices are inter-related.

The prices of both these assets are inter-related.

Needless to mention that both these factors are a function of demand and supply.

In many ways, the global economy and geopolitical conditions impact the movement of both these assets.

This is why it becomes so important to track the US Dollar Index movement to assess the price rise.

The US Dollar Index is a basket of 6 currencies against the dollar.

Technical levels on the Dollar Index charts indicate that it is set for lower lows going forward.

There are also indications that it is set for longer-term bearish stance.

The current leg down in prices may continue in stages.

In fact, a dollar is set to see another round of weak pricing.

That, in itself, creates a potential prospect for the yellow metal to move ahead.

A weak dollar scenario inevitably impacts the overall price movement to a large extent.

That creates a convincing base for gold prices going up shortly.

That alone sets up a base for $1400 and above going forward.

Thus gold is set to benefit from a weak dollar scenario for the rest of 2018.

In many ways, that is likely to impact the overall supply-demand scenario to a large extent.

It will enable gold prices to move up.

In fact, this is one of the most convincing factors supporting a rise in gold prices.

It is set to spur higher demand for gold too for a longer period.

Moreover, the currency and commodity price swings operate over a longer time period.

This, in many ways, creates a convincing ground for stable upswing in gold price.

So you can easily brace up for sustained price appreciation.

S&P 500 Signal Certain Bearish Trends

Apart from the fundamental factors, there are some key technical indicators too.

It is important to pay attention to these technical signals because of the price patterns they suggest.

Technical charts signal future prices on the basis of past price movement.

As a result, it takes into account historical trends to create a meaningful course for the future.

This is where the charts of the S&P 500 is worth a bit of attention.

The markets are in the throes of a strong bull market.

Stock indices are scaling new highs practically every day.

But the technical charts of S&P 500, point to a very different story.

They seem to indicate that the S&P 500 may be headed for difficult times ahead.

The current levels indicate a potential beginning of a bearish trend.

Over the longer term, the S&P 500 is perhaps setting up for a decided downward spiral.

The RSI also touched a new high in December 2017 and moved back.

This too seems to be supporting the claim that the S&P 500 may also see some retracement in value.

All of this can point to only one fact.

The S&P 500 may top out in the near term.

So, what does that mean for prices going forward?

Well, it means increasingly people will move to greener pastures.

Invariably, there will be times when people may look for more stable gains.

This is exactly how Gold price may benefit in the near-term.

It is likely to attract the attention of investors looking to reallocate funds.

That will create a meaningful demand pocket.

This is what will help in gold prices going up significantly for rest of 2018.

The presumption is that this upmove may continue for as long as 2020 as per key technical indicators.

Geopolitical Factors

Geopolitical factors have an undeniable bearing on commodity prices.

Be it gold or crude; even the smallest developments can affect price movement.

Flight to safety remains the single biggest motivation in this case.

So there are some very worrying pressure points globally.

These are likely to raise the forecast for gold price going forward.

One of the most worrying situations is that of North Korea.

The US-North Korea equation is extremely important.

Moreover, the kind of bearing that it has on world security is a huge worry.

This is what is most likely to push up gold price.

It is seen as a major risk to global stability.

This is likely to encourage investors to increase their investment in gold.

It is expected to create a potentially volatile environment for stock market prices.

This is likely to create a meaningful base for significantly higher allocation in gold.

This is only one part of the global scenario.

The Middle-east too is another questionable pocket in terms of global stability.

It continues to give rise to many terrorist threats globally.

In fact, if you see, the whole region is simmering with internal disturbances.

The violence and its repercussions do not seem to be ending any time soon.

That, in many ways, affects the overall demand-supply matrix for gold.

In other words, that creates a scope for meaningful appreciation in gold rates.

If you track the gold price globally also, these geopolitical unrest have a distinct bearing on portfolio allocation.

Whenever people are looking to invest for the longer term, there will be a sizeable demand for gold.

This demand for gold will also help push up prices higher.

As a result, the expectation is that gold price is set to move higher going forward.

Demand from India, China

The demand for physical gold also plays a role in determining gold price.

Demand from countries with high gold consumption is crucial.

Traditionally, the demand for physical gold is significantly high across Asia.

India and China are typically two of the largest consumers of physical gold in India.

India, in fact, is the second largest consumer of gold in the world.

Here demand is traditionally impacted by religious festivals.

So through the year, there are many religious festivals that result in gold buying.

Higher gold demand also results in uptick in prices.

Therefore, it goes without saying that demand in these markets spikes up prices globally.

Internally, gold prices have rallied to 16-month highs in India.

Therefore, this indicates that the global gold price will also reflect the sentiment

It is only obvious that there will be a distinct rise in prices going forward.

But India is not alone in this rally.

Gold price in Singapore and China too are on an upward trajectory.

As a result, premiums to gold price have also inched higher.

So that means, you can also expect these factors to help global gold price.

So it is obvious that gold price is likely to go up in future.

Buying by Central Bank

As you may have noticed that the demand-supply matrix is the single biggest impacting price movement.

So, in this case, it is not just mere retail buying by individual customers.

You must keep in mind that central banks are active buyers of gold.

In recent times, there has been a distinct rise in gold buying by central banks.

If the indicators are true, there is no signal indicating a halt in this hectic buying either.

That only signal one thing.

The gold price is set to move up from current levels.

Technical Indicators for Gold Charts

Now it is also important to analyze the gold chart as well.

In many ways, the price signals that they point to can also give meaningful direction to future prices.

The technical experts believe that the gold price is squeezing into a tight range on a monthly basis.

This only points to one basic factor globally.

It goes on to indicate that a global breakout in gold prices is imminent.

A long-term consolidation of the prices also points to a decided breakout potential.

Now if there is a break put at this juncture, the chances are there will be a new high going forward.

That is one of the biggest factors indicating gold price is set to move higher over long-term.

Role of Speculators

Last but not the least, you cannot undermine the role of speculators in deciding the gold price.

Interest in buying gold has risen significantly compared to past two-three years.

This surely points to a higher rise in gold price in this period.

The open interest in the gold position is also very expansive.

That, in itself, is a big indicator that the yellow metal is set to breach fresh highs.

Therefore, the gold price is surely set to chart out new highs.

Conclusion

Apart from that, if you take into consideration the trading volume on Comex, you get a fair idea of demand.

Gold trading volumes are scaling absolutely new highs at the moment.

There are some alarming signs of limited new gold supply from mines.

That means supply may not be able to match the projected demand.

That too indicates that the overall outlook for gold price is up, up and away.

Though the jury is out on whether gold is going to reach $1400 or $1600 levels, new highs are for sure.

So if you are looking for constructive long-term gains, you are getting positive signs from gold price.

The gold price is set to go up over the next few years.

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You make more money when more people join the system every day.

And more people are really joining this system on a daily basis, because every day more people learn about the value of gold and this system.

Never Lose MoneyTherefore, there is no way to lose in this system, because you don’t make money based on the gold’s price appreciation and you don’t lose money because of the gold’s price depreciation.

You make money based on the increasing activity of the gold market, no matter what the gold price direction is.

Like StarBucks which is backed by coffee, or McDonald’s that is backed by hamburger, this system is backed by GOLD 😀

There is a higher demand for gold every day, not only from people, but also from the governments.

When you enter this system, you will make more money when more people enter the gold market, because you will be part of this market, no matter to what direction the gold price goes, up or down.

Numbers don’t lie:

While you are making money, you can save a portion of your income in gold, and so, your money never loses its buying power over time.

You also make money on the increasing buying power of gold.

After a short while, you will even receive free gold just because you are saving your money in gold.

So, in this system, you make money in the gold’s market, but unlike the retail gold traders who trade gold virtually, you don’t risk any money at all.

Why Saving Your Money in Gold?

You can save your money and income in gold, because gold doesn’t lose its buying power, but paper money does.

The gold’s buying power goes up over time, but paper money always loses its buying power because of the inflation and because it is not backed by anything.

Therefore, when you convert your income into gold, indeed you are increasing your wealth automatically without doing anything.

Gold increases your wealth while you don’t have to do anything.

So, this system not only makes money for you, but also it automatically secures and increases the money you make.

Let me give you some examples.

Gold Buying PowerExample #1:

In 1970, one gram of 999.9 gold, was worth $1.32 while it could buy you five loaves of bread, whereas a $1 bill could buy you four loaves of bread.

Today, the same one gram of 999.9 gold is worth $52.66 and so it can afford you 20 loaves of bread, while $1 doesn’t buy even a single loaf of bread.

Example #2:

$2,000 in 1932 had the same purchasing power as $116,000 today.

Why?

The gold price was $20.67 in 1932, but now it is about $1,200.

This is because of the inflation that causes money to lose its buying power over time.

However, if you had converted the same $2,000 into physical gold in 1932, now your gold would be worth $116,000 because you could buy 58 Troy Ounce of gold with your $2,000 in 1932:

$1,200 / $20.67 = 58

$2,000 x 58 = $116,000

But if one saved that $2,000 as cash, now he could buy only 1.7 Troy Ounce of gold:

$2,000 / $1,200 = 1.7

It is amazing, isn’t it? 😀

Let me amaze you more.

Example #3:

Growing Value of GoldIf you had saved $300 per month since 1990, now you would have $72,000.

However, your $72,000 buying power would be $56,000 now.

It means you would lose $16,000 on your saving.

But, instead of saving $300 per month, if you had bought $300 physical gold, guess how much your gold would be worth now.

It would be worth $236,000.

Can you believe it?

I know it is hard to believe, but it is so true.

That’s why I told you at the beginning of this article that I was going to tell you the things that you’ve never heard before.

How Is This Possible?

Physical gold doesn’t lose its buying power.

It even gains more buying power over time, because there is always a higher demand for it.

Although the gold spot price can fluctuate, but the gold buying power increases every year.

Why?

Because we work with the physical form of a highly demanding precious metal.

It is not like the other metals and commodities.

It is only gold that has an increasing demand and buying power.

In this system, we are not dealing with some worthless credit or digits that can be bought or sold with one click online.

JP MorganPhysical gold is the real wealth.

That’s why JP Morgan said,

“Gold is money. Everything else is credit. And once you realize this, you will never be poor again.”

Therefore, this system makes money for you based on the Global Gold’s Demand, as well as the Increasing Gold’s Buying Power:

For each participant, this system builds an organization that makes money through the increasing demand in the gold market. Also, you will earn money with the increasing gold’s buying power, while the organization keeps growing day by day.

What does this mean to you?

It means you get rich and then richer and richer if you follow this system.

Why Does This System Has No Risk?

You have to have a lot of money to invest in the stock, real estate or currency markets, if you want to make profit reasonably.

However, the system I am talking about here, is not an investment program at all.

That’s why it has no risk.

Investments always come with some risks.

But you don’t risk any money in this system.

We will instruct and support you to do this.

It is time to give you another great news:

The LuckScout Grant 🙂

The LuckScout GrantThe LuckScout Team has decided to grant a portion of the LuckScout.com’s income to those of you who are (1) eager, (2) eligible and (3) qualified but (4) cannot afford to start their own online business to get rich and financially free.

Money is a big help to speed up your success and boost your revenue.

Every month they choose some of you who are eligible for The LuckScout Grant.

Then they grant the money to the chosen members who will need to promote their online business under The LuckScout Team supervision and support.

Not all of the followers and members can expect to receive this grant.

However, LuckScout may increase the grant to support a higher number of grantees over time.

This is just the beginning.

Hopefully there will be a lot more to come.

LuckScout wants to help more people to get rich and financially free.

They want to create a community of millionaires.

Congratulations to all their followers and loyal fans.

And, thanks to The LuckScout Team!

The LuckScout Fully-Automated System

The LuckScout Fully Automated SystemThe LuckScout Team will create A Fully-Automated Online Business System which is backed by gold and works and makes money for you, automatically.

How much do they charge you for this?

Nothing!

It is absolutely FREE.

Although running and managing this system for each member has a lot of costs for LuckScout, they don’t charge you anything, because they care about you and your goals, and because your success is their success.

The LuckScout Fully-Automated System enables you to get rich through the automation power of the computer and Internet.

It makes money for you even when you are asleep.

The LuckScout Team will set up The LuckScout Fully-Automated System for free for the LuckScout members.

How Can You Participate in This System?

You Can Start Right Now:

If you want to join, please submit your email through the below form now.

We will email you the instructions and the sign up link.Start Right Now

After completing a couple of simple steps, you will have free lifetime access to The LuckScout Team special members area.

There is NO FEE to have access to your account and instructions, as well as The LuckScout Team members area.

In The LuckScout Team members area, we will show you how the system works in details.

Then, we will set up The LuckScout Fully-Automated System for you 100% free.

This system works and makes money for you completely on autopilot.

The LuckScout Fully-Automated System has made it a lot easier to make money.

Early Bird Catches the Worm!

Financial FreedomThere are so many senior members waiting for you in the members area.

They are waiting to set up The LuckScout Fully-Automated System for you for free 😀

Don’t You Want to Get Rich and Financially Free?

It is time to take action.

There is no better, safer and easier way.

Those who understand the value of this system, will get rich and financially free.

Those who hesitate, will forever remain where they currently are.

Are You Ready to Start?

1. Submit your email address through the below form now.

2. Wait for our “Welcome!” email to hit your inbox. It doesn’t take more than few seconds usually.

3. Read the “Welcome!” email and then click on the sign up link to register for an affiliate account.

Our welcome email covers everything you need to know to sign up for an account and start using it.

So, please read it carefully.

4. We will email your LuckScout members area login once you pass the first 2 steps that is explained in the “Welcome!” email.

5. You can then login to the LuckScout members area, see how The LuckScout Fully-Automated System works and then have this system working and making money for you, 100% for free, forever.

That is all… You will have a fully-automated online system that makes money, more and more every month.

Start Achieving the Life You Have Always Been Dreaming Of:

Please enter your email address now and then check your inbox:

Keep in mind that today can be the best day of your life.

It is the day that you are starting a lucrative online business that can help you to achieve financial freedom.

It is a big day!

Don’t let your fear stop you.

Vahid ChaychiSee you onboard 🙂
Vahid Chaychi

I am an experienced web developer and internet marketer since 2002. I have been able to become the top seller/earner and affiliate with several different companies. I have launched my own affiliate programs as well. I am a blogging and WordPress expert with lots of enthusiasm in blogging and vlogging to share my knowledge and experience. I am a member of The LuckScout Team. With the help of The LuckScout Team, I will set up a fully-automated online business system for you that works based on the business system I described above. With this fully-automated system, you will make money and achieve financial freedom much easier and faster than what you think. Join us and make your dreams come true.