Posts tagged: Earnings

The Essential Guide To Building An Investment Portfolio

investment portfolioThe idea of having an investment portfolio may conjure up images of suited and booted individuals, well-coiffed, pinstriped and ready for a day on the trading floor. While you may wish to invest in stocks and shares, you don’t have to be a professional to do it. Many novice investors are now choosing to speculate on a range of financial ventures rather than allow their tasty little nest eggs to accrue only the minimal interest as they wallow in savings accounts. Take a look at these options that you could explore to build your very own investment portfolio.

Property

Nearly everyone has a friend nowadays who has purchased a second property to rent out. Becoming a landlord is getting easier with the emergence of companies like 719Rent.com who will allow you to relinquish the practical responsibilities of being a landlord and just recoup the financial rewards. For a small fee, they will screen your tenants, sort out any maintenance issues and always remain up to date with current relevant legislation.

All you need to worry about is sourcing the property in the first place. It’s a good idea to stick to well established rental areas with high-quality housing stock. If you can purchase the worst pad on the best street and carry out some minor renovations, you can also outperform the market. Long-term, property is a sound investment if you ensure that the rental payments you receive each month cover your mortgage costs.

Cryptocurrency

While you won’t want to place all of your monetary eggs into the bitcoin basket, you could still jump on the cryptocurrency bandwagon by using an exchange like the ones mentioned at techradar.com. The rollercoaster ride is not for the faint-hearted as daily falls in value can be as much as 35%, but equally astronomic rises have also been well documented. With Bitcoin ending 2017 at a value of nearly $20,000, it’s obvious why novice investors want a piece of the action. If you do invest in Ripple, Ethereum or Bitcoin, you need to keep abreast of the fluctuations daily and buy and sell at the right time. This is made difficult by a volatile market and no accurate way of forecasting values in the future.

Wine

The idea of investing in wine may seem like a novelty and a tad odd, but people have been doing it for decades. If you can do your research and locate a decent vintage year such as a 1982 Beaujolais or a 1991 Riesling, you could be onto a sound long-term investment. Buy a case or two, store it at a central facility and sit on your investment of wine. As the vintage becomes more scarce, it will gain an antique like quality, and plenty of wine collectors will pay top dollar for your rare bottles.

Having a portfolio of investments means spreading your risk. While you might want to have a dabble down all of these investment avenues, ensure that you hold some money back in your savings account for a rainy day and always keep your eye out for new and exciting ventures.

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 Is You Business Going Downhill After Years Of Success?

business statusIf you drew a graph of everyone’s life, you’d find that it’s never just a straight line. No one has a straight line constantly moving upwards showing them get more and more successful from the day they’re born. Likewise, no one has a line going downwards all the time or staying level. Instead, we all have moments where things are steady, then they get worse, but then they might get better.

The same can be said of any business venture ever. If you’re reading this, then I bet you’ve been a business owner for some time. In the beginning, things were how they are in most businesses; it was steady, and you were just treading water. Then, you found your feet, and things took off. You saw a lot of success, with lots of customers every day. Now, for some reason, everything has gradually come to a halt. Your business is going downhill, and you have no idea why. You’re looking for answers, and you’ve come to the right place.

While every business is different, and your failures could be caused by things specific to you, there are plenty of common reasons that businesses start going south when they used to have a northern trajectory. Take a look at these reasons below, and see if they apply to your company.

You’re No Longer The Best

Often, small businesses see initial success because they’re the best at what they do. When you started up, you were the only company offering certain services or products in that area. You mopped up the market, and everyone came to you. Naturally, other entrepreneurs see your success and want a piece of it. So, established businesses alter their approach and try to rival what you offer. New businesses pop up trying to compete – and succeeding. In the end, you’ve now got way more competition, and you’re no longer the top dog. Here, you need to alter your approach and start being proactive. Assess your new rivals, figure out their weak points, and use them to your advantage. Don’t just do the same thing and expect things to change. People have outsmarted you, it’s time to be twice as smart as them.

You’re Outdated And Old

A lot of small businesses start failing because they’re seen as outdated and old. Online companies may have websites that just don’t fit with the times, or don’t offer the high level of security that others now do. Retail stores may not have an updated POS system that accepts card or contactless payments. Every business has elements to it that can become outdated and replaced with modern things. Sure, plenty of companies want to try and stay as traditional as possible. I get it, that might be your thing, your USP that makes you different from everyone else. Well, as we already discussed, that USP isn’t working anymore. So, you should start thinking about bringing your business into modern times, and also prepare for the future. A tech-savvy business tends to do a lot better than one that’s still using outdated methods, machines, and everything else.

You’re Offering Things That Are No Longer Desirable

This last point merges in with the second point about being outdated. There, I was talking more from the perspective of technology in that your business isn’t modern, it’s old. Here, I’m talking more about the products/services you offer. The first point spoke about other businesses offering what you offer, but better. This point is about instances where your product/service just simply isn’t desirable to the consumer anymore. The best example of this is a shop that sells a particular type of clothing. Let’s take things to the extremes and say you opened a store that sold fur coats. There was a time where this was highly desirable to consumers. Now, real fur is looked down upon and seen as unethical so no one will buy your stuff anymore. The same applies to service-based businesses; a service that was desirable five years ago might not be desirable anymore. I have a potential future example of this with web design companies. Who knows, in a few years there could be software out there that fully builds sites better than any designer can, meaning this service is no longer needed. You get the picture, and the only way you can improve things is to completely change what you’re selling. Think of something new and exciting that fits current market trends. Don’t force yourself into a small box where you’re restricted in what you can do.

The bad news is; your business is going downhill because of one of these reasons (or all of them). The good news is; you can fix things and start that upward curve on your success graph once more!

Moving Office? Don’t Forget These Business Costs

business moving expensesRelocating your office can be a great time for your business, however, it can also cause a few disruptions. Relocating usually means that you’re growing, but you shouldn’t just move without considering everything you need to consider first. For example, have you considered all of the costs that are related with moving offices? You may think you have them all covered, but if you read through the list here, you might be shocked and surprised.

Your Business Budget

When it comes to your business budget and moving office, there may be some delays and oversights – there usually is. Your budget can shoot up unbeknownst to you, especially if you have things that require special handling, like chemicals. Sizeable costs can be misjudged or missed if you’ve never moved offices before, so make sure you look at your industry carefully and create a plan.

Designing Your New Office

Depending on where you move, your new office may need just a spruce up or a full blown makeover. You can always hand over the responsibility by outsourcing, but of course, that’s going to cost much more. It can be worth the cost if you’ll have clients at your offices and you want them to match your company branding.

Consider your office furniture, will you buy new or take your old furniture? You may want a completely fresh start.

Your IT Systems

Your IT systems give you many points to consider. Computer systems are critical for running most businesses these days, and yours won’t be any exception, no matter how little work you actually do online. You need to make sure that you get back up and running as quickly as possible once you’ve made your move. An IT relocation company like https://www.prosyn.co.uk/it-relocation-london.php can help to get your desktops recommissioned and connected to new infrastructure so you can begin business as normal as soon as you’re in your new place. If you don’t want any unplanned business downtime (which could end up costing you more than you bargained for) this is something you must consider.

Communications

It may be worthwhile spending a little to let customers know that you’re moving, too. Letting customers know your moving is only polite, and you can do this any number of ways. Flyers and social media posts can work, and you can put a note at the end of your emails too. You may want to update your website with a notice. Flyers and similar techniques will cost money, while many online strategies can be free. It all depends on where your business is mostly based, but a mixture of techniques is a good idea. You have to keep your customers in the loop. You must let insurance companies and other important companies know too, or you could end up spending more trying to sort a mess out once you’ve let your old premises.

Make sure you remember these business costs when moving office and you should stick to your budget.

Financial Steps To Take Now – For Early Retirement

retirement before ageThe age of retirement for most people has risen considerably over the last few years. In reality this means that you have less chance of enjoying your retirement whilst still fit and healthy. Although people are living longer, chronic ailments, although manageable can hamper your activity levels.

What if there is a way to ensure that you could retire early enough to still have an active lifestyle? Many people have asked themselves this same question and surprisingly there are solutions out there that could make early retirement tangible, rather than remaining a distant dream.

To retire early, with enough money behind you, you need an average of 40 years of savings. This sounds impossible, but with careful financial management started early enough in life, it is doable.

In this article we will visit financial solutions that will enable you to plan for an early retirement.

Plan

Early retirement means different ages of retirement to different individuals. It is good to pinpoint an actual age, so that you can accurately predict how much you need to have saved by this point. Do you intend to totally retire at this point or are you planning on working on a part time basis? Every bit of income helps, some people choose to make money from their hobbies such as arts and crafts. Effectively if you don’t plan on working for financial gain at all in retirement you will need to save a lot more.

Work out how much you need to save each year and how much it is possible to live on once retired.

Invest

Once you have worked out how much money you need to retire early you can start to plan how you can invest your money in order to reach your goal. Investment sounds risky, but even retirement plans involve investment. It is good to educate yourself on the many forms of investments available. If trading on the stock market is really not a viable option due to risks involved you could consider investing in real estate, Fundrise is a platform which allows investing in real estate to be accessible to the general public. Your investment can be relatively low cost and fundrise fees allow you to invest for as little as $500.

Although investing in stocks and shares has the potential to be extremely lucrative, there are risks involved. Before you embark on investing your money you should take professional advice from trading experts and independent financial advisors. In addition to investing in stocks and shares there are many financial products available to invest your funds in from providers on the high street. Always take advice.

Property

Property is a great investment for the future. Capital you have in your property can help fund your early retirement by selling your home and downsizing. If you wish to invest in property for the rental market or to renovate and sell on, ensure you carefully research the location and potential pitfalls in the property, otherwise you could be potentially investing in a money pit.

Ensure that you have paid off your mortgage at the point in which you want to retire. Most mortgage lenders will let you make over payments without penalties.

By following this guide you will be well on your way to planning for an early retirement.