Tuesday, August 11, 2020

AACSB Accreditation – and What it Means to You

When you are considering graduate business programs, chances are you’ve encountered advice urging you to only consider those schools with accredited programs. “Only enroll...

How to Create A Right Business Name for Your Business

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What the result when you choose a business name with generic word? Of course your business is hard to remember. Moreover, your product is only the common thing, no special specification. It could make your business is easy to forget.

So, what the step to create a name of business or brand that is easy to remember and not only just a name? Check these following steps below:

Formulate the concept behind the name

Remember that the name of the business must represent the reason of business appearance. The name could answer important questions, for instance what is the main capability of the business? What value-added that could make your consumer choosing your product rather than others?

Congruent is not always meant that the name is synonym but it refers to the in line meaning instead of contradictory with what is offered.

Do Communication

In choosing the name of the business or brand, it must be understood that the name will be communicated to not only surrounding but also throughout the world. Thereby, make sure that the name chosen doesn’t mean positive connotation with all kind of languages.

If you decide to choose a particular name with no meaning at all or don’t have any negative connotation, you have to create such a tag-line as the additional meaning.

The tag-line could be formed with various ways, with the more focus name or even the short sentence beneath your name. Make sure the quality of the formula.

Besides the name and the Tag-line, it is the most influential matter that is visual communication through logo and color because you have already owned a concept before choosing the business name. Make sure that the logo and the company color is congruent.

Stay Keeping the Name

Of course the name of the business doesn’t work instantly. It is necessary such an active effort in order to make your business name familiar and keep standing in consumer’s mind.

Finally, keep in mind that no matter how wonderful your business name, the main requirement is what your action following is. Those are the harmony between the concept and the goal, verbal communication and visual and also real action. Those are what factors build the business.

Space Saving Solutions For Start Ups

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As a start up entrepreneur, you know that every penny counts. You know that you need to find ways to scrimp and save up because you aren’t sure where your next dollar is going to come from.

There are lots of ways to do this. You can buy office supplies in bulk from a discount store. You can make sure that your office is as green as possible so that your energy bills are low. You can hire contractors instead of employees to reduce your overhead. You can run your business from a smaller space.

It’s tempting when you’re starting up to splurge on big and expansive offices because you want to look as professional and well off as possible to future clients and buyers. Unfortunately buying a lot of space that you don’t yet need is the same thing as tossing money down the drain -especially if it takes a while for your business to really take off. Thankfully there are ways to use less space and still look uber professional.

Virtual Office

Use a virtual office. A virtual office will allow you to work from home but have a non-residential address for your business and a professional space in which you can meet with clients. The scope of services varies from company to company. Typically you pay a small monthly fee to be able to use the office’s address as your own mailing address and then, a small fee on top of that if you need to meet with clients within one of their offices or conference rooms.  These services can be a godsend when you live in an expensive area like Boston, New York, San Francisco, or Seattle.

Co-Working Space

There are a lot of collective and cooperative office spaces out there. You pay a monthly fee to rent a cubicle space or table space. Sometimes these collectives will also have private office spaces you can rent for a monthly fee as well. They will also usually have break rooms, conference rooms, and even mail and copy services that you can take advantage of—all for a fraction of the price you would pay to rent, lease or buy independent offices somewhere. For instance, in Arlington, Texas, the Alliance Business Center offers co-working, short-term office rental, or virtual office space for about $65-100 per month. Sure the space is small, but for a small fee you can rent a storage unit in which to keep all of the supplies and files you don’t need on a daily basis.

Settle For Smaller

If you are determined to have a space outside of your home that is just for your business, why not simply go with a smaller space? Rent an office within an office park or a building that leases space to a lot of different companies? Do you really need a standalone building? If so, why not opt for a house in a neighborhood that has been rezoned to be both residential and commercial? It’s cheaper than a strictly commercial space and will give your business some character.

There are lots of ways for you to help your business save money. These are just three methods you can use to help save a bundle on office space.

Top 4 Ways for Your Start Up Business to Thrive

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Unfortunately, most start-up businesses fail within the first five years. It takes a lot of hard work, knowledge, and luck to make your business succeed and thrive. If you think you have what it takes, here are four ways to help you on your way to success.

Analyze Your Competition and Be Better

With technology nowadays, people research and do price comparisons on everything before buying. They want quality products for an affordable price. You should research your competitors and make sure your products, services, and every other aspect of your business is better. The only way to truly succeed in a business is to be the best in your niche. For example, if you sell SEO services, you have to show your customers that you deliver results faster and cheaper than your competitors’. Likewise, if you sell bath salts, your customers have to know you make quality products that are better than your competitors” and more affordable. Remember, your business will thrive if you are the best.

Automate as Much as Possible

Another way to make your business thrive is to automate as much as possible. As a business owner, you work more hours than at any other professional. That means you should do everything possible to save yourself time. Automation can help because with workflow software you can make client appointments, stay on schedule, and manage other aspects of your business easier. You should also hire services to take care of your payroll and even automate your answering services to redirect callers to the appropriate individuals. Anything you can source to someone else saves you time to do what your business really needs.

Stay Focused and Organized

Since you have limited time as a business owner, you need to stay focused and organized to get everything done. Start by writing business plans and then refer to them often to stay focused on your goals. Then, organize every part of your business — everything from your training to your production and distribution. Your business is much more likely to thrive if you have all the processes in place to make it a success. You can only rely on your employees so much. You’re the one that can make decisions, and you’re the one that is ultimately responsible for your business.

Keep Detailed Records and Watch Your Money

Start-up businesses have limited cash, which means you have to carefully watch where your money is going. You need to keep your costs as low as possible and keep detailed records of everything. There are certain aspects of your business that you should source out. However, you should not hire more employees than you can afford to pay. Plus, keeping your workforce small is easier to manage.

These are just a few of things you need to do to get your business to thrive. However, remember that luck also has to come into play. Smart business people start companies every day, but only a small fraction thrive, with varying degrees of success. Do you have any other advice for start-up businesses to increase their chances? Leave a comment below.

Thinking of Becoming Self-Employed?

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If you are finding yourself dreading getting up in the mornings and going to work, if the days drag by and your career gives you no sense of achievement or fulfilment anymore and if you no longer feel a sense of purpose in your everyday job, then it could well be high time to take the leap and set up that business you’ve been thinking about for some time.

When it comes to leaving a comfortable, fairly well-paid job that may not offer many challenges or a great sense of satisfaction but does pay the bills and ensures there’s food on the table, it can be one of the scariest moves to make. After all, who would go into the unknown and risk losing out on all the security that a full time job offers?

However, setting up your own business can be a way of freeing yourself from the day to day drudgery of working for someone else; it just means you doing your homework and plenty of careful planning so that you know exactly what you’re going into and how to make it work.

Do your research on the area in which you hope to go into business. Is there a gap in the market? Can you make a living out of whatever your particular skill, talent or interest is? Yes you might earn less, but will it be worth it in the long run? To help you make the decision about whether to go into business for yourself, write down the pros and cons and weigh up what the effects would be.

It can also help to talk to someone else about your ideas. You can find a psychic at TheCircle who will offer helpful advice from a spiritual perspective on all kinds of personal matters, including career worries, family problems, romance and more. Speaking to someone else about making a big life decision such as changing your career to become self-employed is a great way to get another, objective perspective and see things from a fresh angle.

8 Important Matters before Deciding to Stop Working Then Building Own Business

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Apparently, it is pleasure to be a boss on yourself and earn money from this. You are able to make money as much as you want and you will enjoy it by yourself. You don’t have to in hurry to go to your office and under scary whether you will be late and your boss get mad to you.

Before leave your current job and start your own business, let’s follow these suggestions below:

Analyze your financial condition

The most important thing you should know when starting to run your own business is recognizing the income and expenditure each month include for what and how those got.

Calculate those all well. Decide how much the capital needed to start, how much the cost of the operation after a week running and so forth.

Watch out the stability and self-discipline

Not only money that is required to build a business but also the self-discipline of you who will run the business. Watch out for these several factors such as your typical emotion, available support party behind you as well as your management capability.

Map out the work plan

If you are a boss, you must have employees. So, you have to make a plan how the work plan later. Then decide what focus of your business and who the potential clients for this.

Start to work part timely

Typically, there is needed a couple months to truly run the business full time so that, it is okay if you start it by part time. It is important to run slow to save your energy for the next because normally the beginning will be so quite to get many clients for your business.

Run transition time

For this term, you should be better to manage the time either for your job and your own business. Don’t leave the current job before you are very sure that your own business is ready to be your only one income source.

Prepare your office

Immediately after all elements are ready, run the business totally. Make sure that all legal matters are fixed to avoid trouble later. Ask the professional to assist you fixing this.

Don’t break the relationship

When the time to say good bye to your boss is coming, do it professionally. And keep the relationship to your colleagues. Perhaps someday they could help your business growing later.

Make sure that the work always flow

The key of success for business is by making sure that the work always flows. Manage the work schedule from the main and the newest so that no remaining jobs. Run your business wholeheartedly and you will reach the success as you desire.

Five Magic Keys to Be a Successful Businessman

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Many people have their own business. There are a lot of ideas and chance available to take the benefits. However, enhancing a business is not as easy as it looked. There are abundance of challenges need to beat off.

These are some tips for you to succeed your business. Just try to apply those on yours.

Do Not Be Afraid to Be Loss

Many people are afraid to start any business because they are afraid to lose or even broke. They might not get any money surely. It will be very different if you are working in a certain office where you will get some money each month. And you really know how much that is.

Being afraid for such condition is the one reason that make most people back off from their interest to be a businessman. If you face such feeling, just remember that all business must be ever loss especially at first they started. But, it is very natural. You have to no worry, because you might lose but someday you will get profit.

Therefore, just understand that all successful businessmen were starting their effort by their brave to take a risk for loss so that they get the profit.

Learn Your Own Interest

Whatever the business, it should meet your own interest in order that you have spirit and capability in running it. For example, if you have interest about technology, you might consider selling hand phone or computer to be your option.

Your interest is the passion that makes you happy to do it. In fact, when you are facing problems about your business and even giving you loss, you still have power to survive because you love what you do and will keep doing it.

Find Some Chances

Finding a chance for this case is by being sensitive to any demand of people in society. For example, when there will be built a new school building in a certain place, there might be a chance to build a book store, a cafe or any related business that might be needed by either the students or the teachers. For finding a chance or idea to create a certain business, you need strong instinct. Just make sure you have it.

Perform SWOT Analysis

Planning and SWOT analysis should be perform because these two are the basic that will have a big role for your business strength.

What questions you need to consider are what, where, when and how you will run the business. You need to find the answer of those questions. You might have some business options you wish to run.

Make any business plan, predict any outcome and income that you can reach for each business option and choose the business that gives the highest profit and also faster to give the capital back.

Don’t be Desperate

Not be easy to get desperate is one of the key to be succeed in business. Why? Because building aa business must be very difficult. Sometimes you will get loss at the first days you start.

All big businesses are the businesses that succeed their dark moment. Never be give up is the thing that brings them their success. That’s why, turn on your spirit and strengthen your mentality so that you will not be easy to give up.

7 Differences Between An Ordinary Person and a Successful Businessman

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Building a business from scratch must need an abundance of confidence, a bucket of creativity and a set of motivation as well as a full of focus. That’s the reason why not all people can be a businessman.

Businessmen have a number of habits and routines that never been done by ordinary people. Moreover, the way ordinary people think is also very different with such a successful person. They tends to be more creative and innovative whereas the ordinary ones are simpler.

So, what are those habits used to doing by the businessmen? Here are 7 differences you can check out.

1. A Successful Businessman See Money as a Moneymaking Machine When ordinary people get money, the first thing they do is buy luxury good that might not be needed very much. Vice versa, a businessman will think to put the money on their business when getting some money. While the businessmen are busy to find the way how to invest the money, ordinary people are busy to find the way how to spend it.

2. Can Focus to Various things Your Time and attention are two precious things you have. Successful businessmen realize anything happened to them. Besides, these rich people also get used to do a job systematically. They don’t like excessive activity and they are able to focus their mind anytime anywhere.

3. Comport Themselves and Think Positive To reach success and to be rich, you need to be honest in giving appreciation to anyone. Successful businessmen are used to being optimistic. They are able to think positive and realistic. Consequently, they understand many events happened to them, at the same time they can be idealistic and brave to take any risks.

4. See Obstacles as Chances Ordinary people will see difficulty as a chance to give up. Amazingly, the businessmen consider challenge and obstacles as the way that makes their business getting stronger.

5. Very Talented to Speculate Businessmen make every decision by comparing various options and choose the most precious one to take. Anything they do, they think and consider the goodness and the badness at the same time.

6. Ideas Are More Important Than Expertise Businessmen actually really think how to develop some available chances. Instead of practicing and working in their comfort zone, businessmen are more likely in the middle of full of challenge situation.

7. Having Goals Different with ordinary ones, businessmen are pushed by ideas about the goals they want to reach. All visions decided should be reached without any fear and pretending.

How to Move the Start Up Forward from Bad Situation on Your Business

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Establishing a start-up might be easy for you who have a plethora of capital. But, keeping the success and increasing the reputation is so hard to do, moreover if you have no enough knowledge about the start-up which is in the middle of critical condition. Less knowledge can be such a boomerang for the business itself. If taking wrong step, the start-up will lose and the reputation will get worse. So, how to move the start-up forward even if it is in the most difficult situation ever? These are several tips to educate you how to move the start-up in bad situation.1. Build the Branding With One GoalBuilding a brand with one gaol will make you easy to focus in move the start-up for forward. Along with the branding improvement you build, you will start to inspire improving the product and the goal adjusted to what you learn from the real condition on market.2. Form a Team QuicklyTypically, a start-up will give probation within 3 months to the new team members. Never feel uncomfortable if it turns out that a new member of the team does not give any meaningful contribution within the probation. Just end the cooperation and try to get a high-quality new member and suitable for the criteria needed.3. Use Prepayment SystemPrepayment system might show that the start-up owner has a hardship financial experience. This system turns out bringing many profit, for instance make the capital easier to back and avoid any unwanted trouble, such as the client reject to pay the product or service given by the start-up.4. Avoid The Clients That Ask big Discount

It might sound weird. But it is one thing could happen on discount matter. Giving too big discount to a client will make the client ask more because they will think that the start-up is easy to beat. So, give proper price and proportional to the quality of the service given.

5. Use Smaller Contract System

A smaller contract system will make you more focus to the quantity of the product and service in smaller amount. Even though there is service after sales, the number is not as much as you agree for a big contract. The contract that has small value with high quality service will get the client entrust your start-up then give you a lot of more.

6. Manage the Clients and Manage The Products are Two things Different

Clients and products are to things you should take as primary stuff in a start-up. That is why you can build 2 different teams in order to make each team pay attention to their own job, manage the clients and manage the products. The result, high quality product and excellent service will attract more clients.

7. Learn from Experience

Passion and talent are not enough to make a start-up you build successful. The increased experiences will complete your passion and talent. Not all of experiences are happy story. but just believe that experience will make you more wise and selective in taking a decision.

8. Provide a Private Room for Each Team

How many teams should be there for a start-up? A new start-up might have less team. However, group the team in each room will make the team more relax and they can result various creative ideas that might make you shocked and glad, for sure. 9. No Need to Depend On to the Team Too Much

You might not have any capability in handling all start-up matters. But you can still learn every business process in the start-up. It is because if there is a team member who want to resign, you will not get any problem to handle what he/she used to do in the team.

The point is that you need to do effective and efficient actions when starting to pioneer a start-up. Use the power you have to manage the start-up wisely and full of responsibility.

When a Brand Is Everything, without Brand, Fiasco Will be Coming

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In the era of imagery nowadays, brand becomes such important asset that amazes customers and determines the success or fail of a company. No wonder then, tough brands become bone of contention among businessmen and even it includes sale and purchase stuff in order to be a shortcut to reach success.

William Shakespeare said what is in a name? A rose is still fragrant whatever its name. But its proverb might not be suitable for this case. Brand is such representation and something associated to a product including the quality, price, value and even prestige. A slice of a name means a lot. Brand is such an allure, a charm and also difference of a product to another. This brand will bond people until they adore, hunt and buy a product. Without a brand embedded strongly to the customers, a product is only a commodity with a low value even though the function is the same. But, thanks to a brand, the same type of product can have very different price. So, now rand becomes the most important asset of a company since it can attract a lot of more profit.

Stephen King, CEO WPP Group, London defines a product as a good produced by a factory and brand is something looked for by customers. Products are easy to copy but a brand has its uniqueness and also value-added significantly to the product. A product is easy to get fade meanwhile a brand will stand along time goes by.  Just take GE (General Electric) and Coca-Cola for instance. The two brands can withstand until hundred years.

Building a robust brand and able to attract buyers to buy them sincerely is not easy. It needs a big effort and long time to prove the greatness of the brand and take it on the point that will give you unlimited profits continuously. As a result, to gain a good brand, people are no doubt to buy a certain brand, acquisition all or a half of a stock company or simply establish a partnership with the owner of the bright brand. These third patterns are often applied by a company in order to master or at least feel the vantage from the brand.

Acquisition a certain brand or the company as the owner of the brand is the shortcut in an-organic growth strategy. Rather than waiting for research and development for a new product, release it on market, enlarge it until becomes so bright, it is better acquisitioning an already well-known brand and has loyal customers. That will give you much faster growth and less risk.  Moreover, there is possibility to get failed in releasing a brand.

So, it is logical when some businessmen are more interest to acquisition some outstanding brands. As the consequence, the price of the brand is expensive regarding the value on consumers’ eyes, the market, the loyalty of the consumers, the potency to take future consumers as well as the goodwill.

The question is if the brand is bright and full of potency continuously, why the owner wants to sell it? There are many reasons behind the decision. It can be because there is a conflict on the family owner, lack of capital, getting financial problems, in need of strategic partner or even because the owner wants to switch to another business which is completely different.

Whatever the reason, they must hope that the acquisition is win-win solution for the both sides. So, the both sides should think deeply and aboveboard. The brand owner should calculate whether the price is worthy to the brand value and whether they are ready for the equivalent. If it needs to get a partnership, they should investigate whether the partner candidate is strategic for strengthen the business and able to give more advantage rather than disadvantage. So is the buyers, they should calculate in order to avoid any regret later.

What is the Future of Investment Strategy?

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When planning an investment strategy it is important that the strategy matches the needs and aspirations of the investor. A system that is successfully used for one person may not be suitable for another. There are various reasons for this, including ethical considerations and how much risk an investor is willing to take.

Investment should always be a long-term plan; when planning for retirement the most important consideration is to make funds last as long as possible while still providing a steady income.

Since the global economic crisis started in 2008, investment strategies have had to be radically changed. We live in a world where interest rates are at an all-time low and the stock markets are at the most volatile in decades. Gone are the days when it was possible to place a large portion of funds into cash and bonds and still receive a good return. Today, an investment portfolio with a large percentage of the investment in cash and bonds will be at risk from making no gains at all. In fact, too much cash and the investment will lose value over time as inflation outpaces interest rates.

One of the best ways to quickly gain an insight into the latest investment strategies is to analyze which stocks the successful investment fund managers are adding to their portfolios. Earlier this year the billionaire investment expert, Ken Fisher, provided a detailed summary of the current market situation and gave some insightful tips into how he is tackling the turbulent markets.

Ken Fisher has developed a reputation for picking stocks that beat the market trend. For two decades he has been choosing stocks that outperform the market – he is living proof that passive funds, that is those that simply track the stock markets, are not the best way to invest. .

Safe banking stocks

Ken Fisher has been buying banking stocks this year and increased his holding of the largely UK government owned Lloyds Banking Group (NYSE: LYG). This is considered a very safe bank to own at the moment because as it is now supported by the UK government failure is not an option. However, this is not just a low-risk bank, Lloyds Bank stock price has increased by almost 80 percent over the past year and some analysts believe that it may once again emerge from government ownership. Lloyds recently announced plans to cut around 10 percent of its workforce to further reduce its operating costs.

Transport success

Ken Fisher’s second big move has been into transport, including the Iowa-based Heartland Express (NASDAQ: HTLD). The Internet has helped buyers reach more competitive suppliers in all markets and as a result all types of transportation have experienced staggering growth in recent years.

Most popular investment strategies

A good strategy is an investment roadmap that will ensure that an investor maintains a relatively objective and non-compulsive approach.

Top-down or bottom-up investing governs how stocks are picked. Top down investment strategy buys stocks based on a theme, such as sticking to one economic sector or in defensive investments such as healthcare and consumer staples.

Fundamental analysis is a strategy that involves deep analysis of all factors that impact on the performance of an investment. For example, an investor will analyze the management of a business to determine whether it is geared for success.

Contrarian investing is a slightly risky form of investment because it involves choosing stocks that are out of favor. The objective is to buy cheap and wait for the market to take interest. Investment managers learn to evaluate businesses and purchase shares in those that are undervalued.

Dividend investing is a form of investment that focuses on buying shares that pay out a healthy dividend. Capital gains are considered to be of lesser importance, the investor wants a regular income from their portfolio.

Any of these strategies can work when they are executed properly; the biggest challenge is in making the correct choices.

Where to get good advice

There are many places to seek advice. The first route should be to start reading the investment press – read blogs, newspaper financial pages, specialist investment news providers such as Bloomberg and Reuters. Also follow prominent investment managers who are on Twitter – they may often give tips.

The best advice is usually when it comes direct from an investment manager. Often the best tips are kept secret to all but an investment manager’s client so hiring the services of a top quality fund manager is a sure way to get some unparalleled investment advice.

All forms of investment carry an element of risk; holding cash is a risk in a low interest / high inflation market. Stock prices can go down as well as up, but so long as the strategy is carefully planned and risk understood, it is possible to make healthy gains on any investment.