Running your own business, working for yourself or freelancing for a living are all different ways of working than your typical nine-to-five job. You gain more control over your hours, your work and life balance, and the tasks that you take on. Having a job is nice because you can turn up and get paid no matter how productive your day is (within reason!). Working freelance demands a different approach that is not always determined by time spent.
But just because there are extra bills you shouldn’t have to go into debt to pay them. Instead of using a credit card and adding to your debt load why not try side hustling instead?
There are lots of side hustles you could choose from to add to your income. For instance you could rent an extra room in your home, babysit, or mow lawns. But there are also 4 ways to make money playing games online and have fun too.
It’s no secret that the key to the success of any business is the team of people that works within it. The people you hire need to be as enthusiastic about your venture and as dedicated to the company’s goals as much as you are, otherwise there will be no chance for it to grow. Who you hire is one of the most important decisions you can make as a business owner and therefore it’s vital to make sure you’re getting it right.
Despite everything, you have a 9 to 5 job. But in your spare time, you have the opportunity to turn into an expert online trader! Stopping your everyday employment to become a productive merchant may appear to be an implausible assignment for many people. A financial analyst at Olsson Capital confirms that there are advances that can enable you to enhance your trading while at the same time working 9-5 and discovering time for leisure activities and your family. [Read more…]
When you want to run your own online business, making sure you have the skills to market your new venture can seem like the biggest priority. However, this is not all there is to convincing customers to trust you as an enterprise.
In an age where there is a really substantial level of fear about identity fraud, and where customers worry a lot about what you are going to do with personal information they have to give you to do business with you, like their contact details and payment credentials, being able to assure customers you are equipped to manage their data safely can be key.
What Are Users Most Concerned About?
In general, most people accept that to take advantage of things like ecommerce, online banking and social media, they will have to give personal information to businesses. However, they do this only when they trust that that information will not be misused, and will be protected by good IT security protocols.
Data privacy has been a concern for users for as long as the internet has been in mainstream use, but as rates of cyber crime and identity theft have grown, and numerous scandals like the PlayStation account hacking and HBO hacking have been reported, it is not really surprising that people feel unease around giving out data online.
Why Is This Important for Online Businesses?
As soon as a customer doesn’t feel like their data is going to be safe, they are likely to back out of a purchase. Abandoned shopping carts account for between 65 and 75% of shopping carts (depending on the year and how the stats were collected), and literally trillions of dollars in missed sales. Concerns about the data security of a site often play a part in why people abandon online shopping carts, and this is something that can directly affect your business.
Even outside of ecommerce, customers are far more reluctant to give details when they are not sure how their information will be used. Nobody likes the idea of their personal details being vulnerable to hackers or exposed.
Learning Data Assurance and Security
Happily, there is a whole field of IT focused on information security, and you can study this online by doing something like an online information security degree which you can study from home in your own time. A lot of well respected universities offer an online information assurance program, so you can be sure of obtaining the kind of knowledge and qualifications your customers will respect when they look at your credentials.
Online crime is becoming a bigger and bigger concern for internet users, and most of their concerns center around how safe it is to give entities access to their data – whether it is retailers they shop with or the government. By studying this field of IT, you as an entrepreneur can reassure your customers that your business has a good control over this, and ultimately win more business.
Starting a business is exciting, but before you get carried away with marketing plans and product development, you need to deal with the nitty-gritty of business banking. To paraphrase the old saying, if you take care of the cents, the dollars will take care of themselves.
Many small traders begin their entrepreneurial journey without bothering to open a business bank account. In the early days, you might find it easier to trade using your personal bank account. After all, there are few if any fees associated with a personal bank account and it is less hassle. But, whilst it is easier, you could end up in hot water if the IRS decides to audit your accounts.
It is always better to kickstart your business on the right foot. Keep your personal and business finances separate by opening a dedicated business bank account. Your accountant will thank you and if you do end up being audited by the IRS, there is little chance of personal income being wrongly labeled as taxable business income.
Choose the Right Account
There is a multitude of business bank accounts on the market. The hard part is choosing a business bank account that suits your needs.
Business bank accounts differ from personal bank accounts in that they typically charge users for issuing checks and making other routine transactions. If you are not careful, you can end up paying a fortune in fees, just to administer your own account. However, opening a business account makes record-keeping much easier, so it’s time to bite the bullet.
Check out business accounts offered by all the big names, including online banks. Each bank will have a range of products, but you need to look at accounts aimed at small businesses. Pay close attention to the fees and charges. The best online banks are often cheaper than their big-name counterparts, but make sure you read the small print to be sure.
Minimize Your Banking Charges
Many banks offer free banking to startups. This is an excellent deal, as it will minimize your fees in the early days, which is precisely when cash flow will be limited.
Once your account is up and running, make a list of all fees, so you don’t get caught out. If your account charges for issuing a check, use online banking to pay suppliers. Does your bank charge for an overdraft facility? Avoid going into the red.
Keep a close eye on your transactions and if you spot any fees you weren’t expecting, query them with your business banking liaison officer.
Open a Savings Account
Once the money is flowing in and business is booming, open a business savings account connected to your main checking account. Move any excess cash into the savings account so you can make the most of an enhanced interest rate.
Business banking needn’t be a huge headache if you select the right account and monitor it closely. Be aware, however, that you will need to have a decent credit rating if you want to open a business bank account.
Many businesses use the cloud to increase their data storage capability. Yet, news of breaches occurs almost every day. What do you do to ensure your data is safe? Let’s look at some ideas to keep your data safe and secure.
As a parent, you want to instill good lessons and habits in your children so they make healthy choices when they become adults and are no longer under your care. From teaching them good table manners to showing them how to do laundry, cook, and keep a home, you’re ready to give them the life lessons they need to be a success. However, you may not have considered teaching good money habits on that list. Many people don’t consider themselves qualified enough to teach their children how to make proper financial choices, but that’s not true. You don’t have to be an investment banker to give your children the tools they need to succeed financially. All it takes is a little basic knowledge, some patience, and modeling to help your children learn good money habits.
With everything to think about as the year comes to an end, such as hitting final goals, receiving a bonus, applying for a promotion, planning a workplace office party, sorting out vacation time and the like, you would think that worrying about Christmas office gifts would end up at the bottom of the list for most people. However, working out how much money to spend and what exactly to buy colleagues and bosses can be very stressful. Read on for some top tips you can follow this December to navigate holiday gifting, whether you work in an office, as a freelancer, or in other position.