Category: Tax

The Inspiring Solutions That Can Turn Your Business Around

to run businessIt’s safe to say that no business is going to get a smooth ride. Because the business world just isn’t like that. You don’t just get started, see instant success, and keep on riding on your success cloud until you decide to get out of the game. Although that would be nice, it’s just not realistic. Instead, what is realistic, is that you’re going to struggle. You may not struggle all day, every day, but you will struggle at some point. Business having a business is like being on a rollercoaster. It’s natural for you to experience ups and downs. Of course, when you’re enjoying the ups, you’re more than welcome to take it all in and feel proud of yourself. But this isn’t about how you take the ups, it’s how you handle the downs.

In short, tough times will make or break your business. So as much as you might like the enjoy the good times, you also have to know how to bounce back during the bad times. At the same time, you need to be able to take action and actually work hard to be able to turn things around. Because that’s what matters. You have to be able to actually turn things around and see a difference in business. And yes, that means that you’re able to go from down to up and continue to do that whenever you’re faced with a challenging situation. So let’s take a look at some really inspiring ways you can do that.

Hone In On Your Targeting

First of all, you have to be thinking about your customers at all times. Because if you want to make sure that you can make money and improve your financial situation, you need to attract the right customers. Maybe the reason for your struggles is that you’re not targeting the right customers? When this is the case, you’ll find that if you can change that, are hone in on your targeting a bit more, you’ll have a better chance of turning things around.

Rebrand

Another really strong idea is going to be to look into rebranding. Again, to be able to attract your customers, you should be thinking of ways that you can stand out from your competition, and branding can really help with that. So think about the kind of rebranding process that you may need to take. When you do, you should find that you get a strong return on your investment.

Try A New Marketing Technique

How’s your marketing looking lately? If you tend to use the same techniques over and over again, you can’t expect to get different results. Instead, you’re going to want to think about using a new tactic. But the tactic in question will need to be something that’s entirely personal to your business, and what will work for you – and testing things out is the only way to do that.

Refine Your Product Or Service

Sometimes, the reason why you’re struggling and not bringing in money, is because your product or service just isn’t as strong as it could be. And that can be hard to admit. But if you do want to improve going forwards, you have to be objective. You need to be able to identify your weaknesses in order to become stronger. So really work on your product or service line to improve the areas that are letting you down.

Improve Your Website

Another big improvement that could really increase your sales, revenue, and general custom, is your website. Because if your web design is letting you down, you could be losing customers, and subsequently sales, because of it. By improving your web design, testing new features, and seeing what generally keeps your customers on site is going to help you to not only hold on to those customers, but encourage them to buy from you too.

Reduce Your Costs

And then there are your costs. Because if you’re not making an awful lot right now, but your overheads are huge, you have a problem. When you’re struggling, you have to react. You can’t just leave everything as it is and expect things to just pick up. You have to take action. Reducing your costs or cutting things out completely will help you to stay above board during times when you need to the most.

Hire Better Staff

You should also be sure to get the right staff in place. Because people make a business. So use the right services, like payroll recruitment agency, Portfolio Payroll, to help you do that. When you bring in the right people, your business will be able to head in the right direction. It can take time, but the when you find the best staff, your situation can improve.

Bring In Experts

As a step on from that, you should also look to hire experts. Why? Because you can’t do it all – and you can’t be an expert in everything from marketing to customer service. But when you hire a marketing agency or outsource your customer service, you will be able to get experts working on each area for you, and you’ll have more chance at getting the results you want.

Host An Exciting Event

Sometimes, you just need a bit of excitement to shake up your business. Events can help with that. A successful event not only brings the customers to you and gets them excited about your business, but it’s also a great PR opportunity and will generate sales too. So get planning and see what this can do for your business.

Launch A New Product

Finally, you may also want to think about launching a new product. You may think that this is a risky move when you’re struggling, but sometimes you have to take risks to make a difference. When what you’re currently doing isn’t working, you need to change things. Sometimes, you’ll find that a new product, even if it’s aimed at a new market, is exactly what your business needs to change, grow, and generate the revenue you want.

Why You Should Not Invest in Mutual Funds Based on Absolute Returns

mutual fund investmentsWith every investment decision, investors only seek higher returns. Considered as a preferred choice for many, mutual funds offer high returns at a lower risk compared to direct equities. An investment in mutual fund allows investors to avail of the benefit of compounding interest and helps them generate optimum returns in the long term. Additionally, mutual fund investments may be made in the form of a Systematic Investment Plan (SIP) and its returns carry tax benefits.

When it comes to determining the performance of a fund, investors are not aware of what to consider. Measuring the short-term performance of the fund may sometimes lead to wrong decisions. Many consider this short-term return as a benchmark and set wrong expectations. Therefore, it is important to assess the fund correctly in order to avoid wrong financial investment decisions.

Ways in which investment returns are calculated

If you want to check your mutual fund performance, you must first understand the different ways in which the returns are calculated.

• Point-to-point return or absolute return

This is the figure that, you arrive at by deducting the final Net Asset Value (NAV) from the initial investment amount. An absolute return does not take into consideration the period for which your money has been invested or the inflation during that period. For instance, if you invested INR 20,000 in 2015 and its current NAV is INR 30,000, then your absolute earning is INR 10,000.

• Annualized returns

Each fund shows returns that are compounded and not absolute. Mutual fund returns compound over a period and the Compounded Annual Growth Rate (CAGR) shows the year-on-year growth rate of the investment over a particular duration.

Why absolute returns do not reveal the right picture

Fund managers often ask investors to stay away from considering a point-to-point return. Let us delve deeper to find out why absolute returns should not be considered as a benchmark and may be misleading.

• Reflects an incorrect financial picture

For short-term mutual fund investments of a year or less, absolute returns may show the right results, but in case the investment is for a long-term, this does not hold true.Over a longer period, the fund may not be able to sustain the same or an increased return percentage. For example, if a fund outperforms in a three-year period, you may not be assured that it will perform the same way over a five-year duration. This also does not mean that you will not earn good returns over a longer period. The three-year return could be fueled by a positive market movement and a favorable macro environment. There could be a significantly higher return in a three-year period and an average or below-average return in the five-year duration.

• Performance depends on the type of fund

The performance of the mutual fund depends on the type of fund you are invested in. Equity funds are highly volatile and the returns on the same may vary from one period to another. It is also affected due to the market conditions. CAGR does not account intermittent volatility. The equity fund may have gone up by 40% in the first year and may dip by 25% in another, but the absolute return will not provide correct information about the fund. It might only show the upswing of 40% in a particular year and misguide investors.In fact, most top-performing mutual funds perform well in the first year and then slump in the next two years. Hence, the overall performance may be determined by considering a three-year or a five-year investment period.

In order to gain maximum return from mutual funds, fund managers insist investors remain invested in the long run in order to gain maximum mutual fund returns and to bring down the impact of the market changes to a minimum. Every investor should learn how to interpret the CAGR and understand the implications of three-year or five-year returns on the investment.

The biggest benefit of a mutual fund is the compounding of interest. CAGR is ideal for measuring performance over a longer period whereas absolute returns may only measure the performance for a year.

To invest in top-performing mutual funds, investors must use user-friendly tools like the Angel Wealth mobile application. It offers customized recommendations for your financial goals. It runs an ARQ investment engine, which has no human intervention and is powered by advanced algorithms. So download the Angel Wealth mobile app today and streamline your investments.

Advice For A First-Time Business Owner

time for businessIf you have entrepreneurial determination then that’s a good starting place for a business. Of course, it’s only one component of many. You need to think about your own experience or expertise regarding the management of a business, how you’re going to fund such a venture, how many other people you might need to hire to help you with this company, and, most importantly, what type of business you’re going to start. Money is probably the biggest worry on your mind but if you focus on making sure all other components of your business are running smoothly then the profits will look after themselves. Here’s some more detailed advice for any first-time business owners out there.

Become a real boss.

You might have an innovative idea and qualifications in a certain line of business but that isn’t going to be enough to transform you into a successful business owner. When you’re the boss of a company, you need to be an all-rounder. For example, if you’re running a legal business then it isn’t enough to simply have a qualification in law. You need to know how to manage finances, marketing, and, most importantly of all, people. If you want your business to get off the ground then you need to learn how to manage your team and fill them with the same passion for the company that you feel. Making that step will transform you from somebody with a great idea into somebody with a great business.

Research the market.

It’s your job to drive the direction of the company. You might have a good business plan at the moment but the market is always changing. You need to update your approach in order to adapt to a changing industry. You need an enticing and widespread online presence in this digitally-driven era of business, as we’ll discuss in the next point, so you might want to look into online companies such as Youi Pty Limited, who deal specifically with buying and selling goods online, for a little insight into their credit ratings and financial situation.

It’s important that you take note from other companies, whether they’re in your industry or not, so as to not only get an idea of what they’ve been doing well but what they haven’t been doing well. The great thing about being the second or third business to dive into a certain industry is that you don’t have to make the same mistakes as the companies that took the plunge first. You can save yourself a lot of money and time by figuring out how to cut straight to “Successville”.

Get your online marketing campaign right.

As touched upon in the point above, you need a strong online marketing approach in order for your business to succeed. You might not be a marketing expert but you should certainly get marketing professionals to help you if that’s the case. The “build it and they will come” mentality doesn’t always work because there’s a lot of competition offering the same products and services as your business. You need to stand out from the crowd if you want consumers to come to you. Figure out how to optimize the content on your website and social media pages so as to climb the rankings on Google and other search engines. That’ll get you in front of your target market.

Can I Afford To Hire Someone?

business hiringFrom a financial perspective, running your own business is the biggest risk you can take, but can also reap the biggest rewards for you and your family. Running a business takes a huge amount of planning, time spent working, developing skills and completing orders. There will come a time within your budding business career that the jobs seem to mount up to a level which you cannot cope with alone. It is at this point which you may start to wonder whether hiring someone will benefit you and your business.

Think about yourself and how much you value your time. You are the owner and instigator of your own business, you are worth a lot of money, and this is money which should not be wasted by sitting in front of a computer checking emails, social media and handling tech support. These are all tasks which other people can do for you at a more reasonable price- so instead of costing yourself an hour of your own time, cost an hour of someone else’s.

It is hard to know exactly when the right time is to hire a new person you’re your team, but it really comes down to how much profit you earn and the time you take out of your day to complete tasks which prevent you from doing your work to its full extent.

The right person could save you time doing these small tasks and allow you to focus on new ways to expand and increase the profitability of your empire. You could end up deciding to expand overseas, open a store, or maybe invest in things such as foreign currency: http://trustedforexbroker.com. It will free up your time and in the end mean you can make much more money.

If you feel that you need someone there to help the business grow and prevent it from falling into debt, then you will have to make the financial sacrifice to start with in order to see those long-term results. It may seem as if you simply cannot afford to hire someone- but can you afford not to?

Hiring The Right Person

If you do decide that you need to hire an extra pair of hands, make sure you take that time to hire the right person for the job. Simply having the right employee can bring your profits up and the efficiency of your business up by a huge amount. Someone who has the knowledge, skills, enthusiasm and drive to succeed can transform the way your business operates. It may mean you have to offer them a larger sum to start off with, but that investment will pay off tenfold when you are able to work on more projects and expand. If you need tips of finding the right employee, here’s a helpful post: https://www.thebalance.com/top-tips-for-hiring-the-right-employee-1918964

And remember, if you can’t afford to hire an employee for full-time work- all you need to do is offer a part-time position instead. It will give someone the chance to work for you and balance their other commitments and you will have an extra helping hand.

Are House Prices Likely To Go Down?

balance house pricesWhenever you hear people talk about the housing market it’s all doom and gloom. Prices have been rising consistently for years and there’s a serious fear that a whole generation of young people isn’t ever going to be able to afford a house. Last year was set to be a positive one for housing and an increase in house building was predicted, but the reality is, that didn’t happen. Things did improve a little but not as much as we hoped they would. So, it doesn’t look good at the moment and it feels like it’s never going to get better, but is that really true? Nobody knows for sure but these are some of the major predictions from experts.

Prices Will Rise, But Not As Much

This is good news and bad news. Prices rose by a significant amount every month last year, especially in the latter half of the year. Some people predict that trend will continue, but the increases will slow right down. There are a couple of reasons for this prediction. Firstly, unemployment is going down and people are able to afford houses more easily. Demand is stronger and there will be a slight increase in the number of people that are actually buying houses.

Another factor to consider is the number of people opting for alternative housing situations. More people are opting for prefabricated mobile homes, sometimes called mobile homes. These are far cheaper because the components are made separately, shipped over, and constructed on site. The impact of this is minimal but people choosing to go for alternative housing is going to alleviate some of the strain in terms of housing shortage. It also means that houses can be built far more quickly.

On the other hand, real estate as an investment is on the rise so if all of the houses are being bought up by investors, prices could carry on increasing.

This prediction is good news overall because what they’re essentially saying is that, while there won’t be an immediate turnaround in house prices, we’re coming toward the top of the peak and will soon start to see a downturn in prices.

Affordability Will Go Down

Wages are forecasted to grow in some of the larger cities in America which you would think is good news for buying houses, unfortunately it’s not. The amount of homes that are affordable to somebody on a medium income isn’t growing. That means they are unable to access the cities where wages are growing in the first place, so they can’t get the higher wages they need to buy a house. This disparity is one of the biggest problems in the housing market at the moment. Even if house building does increase this year, they aren’t likely to build the affordable housing that is needed to redress that imbalance.

Credit Availability Could Improve

After the crash of 2008, the availability of credit was regulated more strictly in order to avoid the same thing again. However, the new Trump administration has floated plans to roll back a lot of that regulation so banks will be more free to lend money again. It could go one of two ways; either they’ll start lending more freely and people might be able to afford to buy a house, or they may carry on operating the way that they are at the moment.

There’s no telling exactly what will happen with the housing market but these are three of the best theories so far.