Derby Advisors Discusses How to Avoid Drowning Your Business in Credit Card Debt

Businesses are often attempting to keep their heads above water financially. They want to make sure they are avoiding massive amounts of debt and staying out of bankruptcy. One of the ways that many companies try to accomplish this is through credit cards. Credit cards can seem like an easy solution for companies trying to meet payroll or pay off their mortgages. But these same companies have to

Make a plan

Credit cards are often seen as a last resort for a business. They are the funding source that a company uses when they cannot pay bills or otherwise meet their obligations. Any business that wants to avoid serious debt from credit cards must not put themselves in a position where they have to turn to them. The best way to do this is to have a simple, detailed budget plan. This budget plan will include significant information such as monthly expenses and the wide range of potential externalities for a business along with their costs.

Use business loans

One helpful way for businesses to avoid considerable credit card debts is for those businesses to focus more on traditional business loans. These loans are structured for businesses and often have lower interest rates and more generous terms than credit cards. In addition, business loans are not viewed as negatively by creditors as credit card debt is. Business loans are often seen as a simple component of doing business and paying off debts. They are safe and often paid back by businesses. Companies need to realize that the appearance of their loan is beneficial to the chances that the loan will harm future efforts to obtain financing from other organizations.

Be prudent with costs

One of the easiest ways for a company to start accumulating credit card debt is to work beyond their means. Many businesses have high hopes for their eventual success. As Derby Advisors notes, they think that their product or service will perfectly fill a market niche and be sold to thousands or even millions of people. This mindset helps people make unrealistic purchasing decisions and financial plans. Instead, prudence should be the top priority when a business is looking to spend money or expand.

Prudence will help a company buy what they need rather than what they think they may want at some point. In addition, prudence will lead a company to have lower credit card debt and more cash on hand to deal with the inevitable emergencies that will rise up in a new business. By keeping expenditures low, companies can simply reduce the need for debt and reduce the possibility that they will have to rack up the levels of debt that can ruin a new business.

Conclusion

Businesses need to work with experienced partners in order to keep themselves out of credit card debt. They need to contact partners such as Derby Advisors in order to formulate and help implement a business plan. Many companies fail within the first five years. Without a competent plan and expert guidance, companies can make sure they are a success story instead of a statistic


Vlad Rigenco Launching a Startup Company

Vlad Rigenco Shares Insights on How to Launch A Startup Company

Many professionals desire to be out of the rat race. You can tell that this is an ongoing trend because a lot of companies now offer flexible jobs and an achievable work-life balance. However, there are people who simply won’t be satisfied with a flexible job–they are called to be visionaries, innovators, and entrepreneurs.

Perhaps that person is you. You may be stuck at your office desk thinking about how you can launch your own startup company, but you don’t know the first steps to move forward. Vlad Rigenco, a financial expert and entrepreneur based in Toronto, Ontario, knows what it’s like to be in your shoes.

Vlad Rigenco started his career journey early but quickly switched gears and began creating his own mobile application. In this post, he shares his insights that he picked up along his journey in building a startup.

Have a business plan in mind.

Having a world-changing idea is one thing but having a solid business plan is another thing entirely. You may have the brightest invention that could change the world, but without a business plan in mind, you may end up being the 1 in 2 small businesses that fail within the first 2 years.

Having a business plan in mind means learning about your target audience, creating your mission and vision, and preparing where you will get your capital for operations.

When Vlad Rigenco started out with his mobile application startup, he pinpointed a market he could serve, but he knew this wasn’t enough. He sought the help of a friend who is a Computer Science graduate to help him formulate his plans for building the app.

Being a financial expert himself, Mr. Rigenco also created a full business plan for his startup. He advises beginner entrepreneurs to create an outline of what they’re going to do to start a business and how they are going to do it. The timeline of this business plan should be within 3-5 years.

Find the right funding for your startup.

Some startups require a lot of capital and others not so much. Whichever category your business falls into, it is best to look for the best possible sources of funding.

If you have a highly innovative idea, you can look into pitching your startup to a venture capital company. They specialize in funding innovations in the area of STEM (Science, Technology, Engineering, and Mathematics). Other common sources of funding include personal savings, credit cards, friends and family, angel investors and banks.

Sometimes, you have to combine these options to secure the right amount of capital. You also have to keep in mind that some investors will want a stake in your business. Consider how you will be able to create a profit while still paying dividends to your investors.

Surround yourself with a great team.

In some instances, your startup company may be best shared with a business partner or a small team. Having the right team allows you to have extra hands to work on certain areas of expertise that you may not be aware of.

Mr. Rigenco started his mobile applications company backed with financial expertise. However, he built a small team to help in the technical and marketing aspect of his digital product. He has leveraged the power of combined skills to create results for his business.

If you have areas in your business that you are not confident in handling, you may want to consider building your own core team. Having the right people to back you up will provide you with the manpower and resources you need to successfully launch your startup.

Consider having an online presence.

Another important aspect of your business is its digital presence. Nowadays, more corporations and small businesses alike turn to the power of the internet and digital media to reach a wider audience.

Since more people are going online to look up information, choose a service, or purchase a product, it is imperative that your startup company should have its own website. Additionally, it could be very beneficial to also have an online marketing strategy in place.

Vlad Rigenco is well-versed in creating an online presence for his startup company. Since he started out with real estate, he has been closing sales for leads that he was able to get online. Since most people look for properties on websites such as Zillow or Realtor, he used his knowledge of building an online presence and applied this to his mobile app company.

According to Mr. Rigenco, these strategies are what helped him launch his startup successfully while keeping it on the right track. The main takeaway from the insights he shared is to enter your entrepreneurship journey with a plan in mind and execute it with confidence.


nando caporicci online store

Nando Caporicci Explores the E-Commerce Trends for 2019

Clearly, most every company needs an online presence in 2019. Many well-known companies from the retail world have had to add an e-commerce presence, some successfully and others not. As we see more and more retailers in the U.S. fail and close stores, e-commerce is booming and growing. With these changes, there are trends that e-commerce retailers will likely need to adopt in order to stay relevant in their online efforts. In 2019, we are seeing some large changes that began a few years ago being rolled out on a larger scale.

In order to understand the new trends in e-commerce for 2019, we spoke to Nando Caporicci, Caporicci is an entrepreneur who lives in Les Cedres, Quebec and is the CEO of Olitris Technologies, a company that creates Bitcoin mining hardware. Caporicci has experience running affiliate marketing programs for Roadmall.com. He also received his Bachelor of Arts in political science at Concordia University in Quebec, Canada and his MBA with a major in marketing from the City University of Seattle.

Personalized Shopping Experience –

According to Caporicci, there is a big move by many retailers to make e-commerce more interactive and to also better target fulfilling customer needs and desires. Toward this end, the e-commerce experience that is now being rolled out on many websites is more personalized. Ecommerce-Platforms.com states that online marketers learned that customers were six times more likely to make a purchase when they received a personalized email message. Also, they state that personalization translates into 48 percent more spending.

Furthermore, there is an effort to gather more data from each individual shopper, such as their purchase history, which pages they tend to visit and their search queries. This information is then weaved into listings of recommended products, more personalized marketing pitches and advertisements that reflect the customer’s prior searches. This is all accomplished through software designed to ease the personalization of website information.

Also, in the realm of personalization, Forbes spoke about the fashion-industry retailers who are beginning to go beyond the small, medium and large sizing to more customized clothing with exacting measurements based upon the customer’s body. One company who has tried customized sizing found a real cost savings in a lower returns rate.

Chatbots –

ReadWrite.com stated that chatbots will be increasingly helping e-commerce retailers answer common questions by customers, checking into available inventory and funneling customers to what they are looking for on a site.

Business News Daily is reporting that it is estimated 50 percent of mobile searches on e-commerce sites will be voice searches by 2020 and emphasizes using long-tail keywords, everyday syntax and small bites of information.

Easy Mobile Use Access –

According to Business.com, a continuing trend that all e-commerce marketers must adhere to is to have a mobile-friendly means of viewing their products or services. ReadWrite.com spoke of the use of Accelerated Mobile Page (AMP) software that allows mobile users to have e-commerce website pages load much more rapidly. Such accelerated web pages boost sales. AMP-driven sites have a lightning bolt symbol just before the URL to let the user know that the pages will load much more rapidly.

Business News Daily also suggests that e-commerce marketers accept some form of digital wallet payment, whether it be Apple Pay, Amazon Pay or PayPal. Those help improve your sales rate.

Interactive Product Views –

One of the big problems with shopping online is that you just can’t see every side of an item or view how the clothing would look on someone’s body. That problem is being overcome as well. E-commerce providers are using 3D images and augmented reality to help customers make a more informed buying decision. For example, augmented reality allows you to take a picture of your living room to see what a certain type of flooring, a new color of paint on your walls or a different piece of furniture will look like in your home.

Business News Daily suggests videos that link to the product page in order to assist customers see the product in action.

Chinese E-Commerce –

Today, we don’t just see Western e-commerce retailers online competing for our dollars. We also have Chinese e-commerce sites, such as Alibaba, rising up and competing with their Western counterparts. Retailers like Alibaba are also solving the issue of waiting for three weeks for an item purchased to arrive from China by having shipping facilities here in the U.S., just like Amazon.

B2B E-Commerce Increase –

Forbes is reporting that business-to-business e-commerce will increase to $6.6 trillion dollars by 2020. According to Forbes, this sector has grown more slowly in prior years because of the more complex nature of how transactions are completed.

According to Nando Caporicci, e-commerce trends that have slowly been evolving, such as personalized shopping experiences, chatbots, easier mobile access, more digital payment options, better interactive views of products, more competition from China and a steady rise in B2B e-commerce will be rolled out more rapidly in 2019 and into 2020. Most all of these new trends will represent big wins for consumers and aid conversion rates.


Daniel-Doyle-Pleasantville

Daniel Doyle Pleasantville Photographer Discusses The Importance Of Business Plans

Many people love photography and would like to go into business for themselves as photographers. But, the difference between those who are successful and those who simply end up in failure have a business plan in place. The reason is that you need to determine some very basic aspects of your business that will take some research so that you succeed. All of the best technique and striking photographs in the world will not help you if you are not able to decide upon your target market and basic pricing. These are elements in your business plan.

In order to determine the importance of a business plan and its key parts for a successful photography business, we spoke with Daniel Doyle Pleasantville. Doyle began his successful photography business in his studio in Queens, NY that focuses upon studio head shots of actors and musicians in New York as well as event photography. His event work spans concerts, weddings, families and children. He has made such a name for himself that he is now tutoring young photographers to follow in his footsteps. He majored in art at Ohio State University. Doyle is now opening a new studio in his home town of Pleasantville, Ohio. +

Daniel-Doyle-Pleasantville

Why a Business Plan?

According to Doyle, to succeed in the very competitive world of studio and event photography, excellent technique that grows and evolves is a prerequisite. But, one cannot succeed without a business plan as well. As Entrepreneur Magazine states, you have to know some foundational information, such as how much you should charge for your work and what niche you will pursue. If you don’t know such basic information, your business will likely be doomed to failure.

Key Details to Flesh Out in a Business Plan

Some of the key points in creating a business plan for a photography business are as follows:

Market Analysis:

If you fail to do the marketing analysis steps, you will likely fail to find the niche that you can profitably serve. As Entrepreneur Magazine stated, you have to first identify who are the targets for your products. Expert Photography explains that this is the stage where most businesses fail because they decide everyone is their market. You have to narrow down who is realistically going to buy your photographs for the price you will need to charge in order for you to make a profit and a living. It is too expensive to have “everyone” be your target market.

Are there enough of your target market customers in your area? For Daniel Doyle Pleasantville photographer, he first decided that his local market was too small for him to begin as a startup, so he made his business flower in a larger market area first, so he could get established. For example, if you have decided to do studio photography and portraits, your biggest target market in most areas will be families who have children, but Doyle was able to find entertainers in Queens who needed publicity head shots that were unique. This is what earned him a solid reputation in his area.

Products:

Here you will carefully delineate each type of product that you will carry as well as formats, such as digital and print and dpi resolutions. Are you offering prints, albums or files online?

The Competition:

Who is your competition, and how can you differentiate yourself from what they are offering? As Expert Photography suggests, you really don’t want to try to succeed by being the “low price leader.” Leave that for Walmart.

Marketing Strategies:

How do you get your name to clients?

Wedding photographers can work with bridal boutiques and hair salons. Portrait photographers, like Doyle, worked with entertainers who were trying to get a start in the industry. His unique head shots helped market his business to other entertainers through word of mouth. Commercial photographers pay for space in directories and work through production companies.

Operations Strategy:

Will you be able to work from home? Will you rent a studio when necessary? Do you already have all of the equipment you need, or will you rent some as needed?

Financials:

How will you pay for everything you need to operate your business for the first three startup years? Expert Photography suggests you need to have back-ups of everything for emergencies. Imagine if you were in the midst of a wedding shoot and your only camera body seized up on you.

SWOT and Timeline:

Do an analysis of your strengths, weaknesses, opportunities and threats. Create an action plan to address every part of this analysis over time as well as a timeline of how you will roll out your business.

Since photography is such an enjoyable hobby, there are many who would love to go into business for themselves in the field. As Daniel Doyle Pleasantville knows from his own personal experience and success as a photographer who has one successful studio and is opening a new one, a business plan that is fully fleshed out is the only way to be able to achieve success in the crowded field.


How to Market Your Plastic Surgery Practice in the 21st Century

Unlike a few decades ago, more and more people are going for cosmetic procedures, and there is a possibility that the demand for plastic surgery will continue. Increase in demand comes with an increase in supply, and this means competition is also very stiff in this industry. It is, therefore, important for players in the industry to utilize the best marketing strategies to attract new clients and maintain them. You will also need to stay on top of innovation by using the latest technology in the market to provide topnotch services. That said, if you want your plastic surgery practice to stand out in the 21st century, then consider utilizing the following marketing tips.

1. Provide Educating Contents

Many people will tell you to improve your online presence by posting now and then, but the impact of your postings will depend on the quality of the content you post. The content will help in proving your level of expertise as a plastic surgeon to the people who read the contents. Many people who are looking for any cosmetic procedure want to do it with someone intelligent and knowledgeable. If you never include information about these procedures, how do you expect to convince them that you know what you are doing? Quality content means having relevant, educative and trending information about your line of work.

2. Use SEO To Improve Visibility

Technology has changed how people go shopping for goods and services and most rush to the internet first before making the purchasing decision. In this case, most people looking for the best plastic surgeon Tampa will go to the internet first. The question is, how easy is it for people to find you during their search? The easier way to improve your visibility on the internet is through search engine optimization (SEO). SEO is a digital marketing strategy that helps you to rank among the first search results on a search engine every time a potential client searches for something related to plastic surgery. If you do not know how to use SEO effectively, it is good to work with a reliable digital marketing company to help you.

3. Use Social Media Marketing

In today’s digital world, you cannot afford to ignore the impact social media has brought to both people and businesses. Social media is no longer an exclusive social place where people meet just to talk and create or build relationships; it has become a market for businesses as well. Businesses are using social media to meet and interact with potential and current clients. Clients can ask questions concerning your services and you as a plastic surgeon will be able to respond to their queries accordingly. Open accounts on famous social media platforms such as Facebook, Instagram, or Twitter and make sure you link these pages to your blogs. Every content you post on your website about cosmetic procedures should also be shared on these social pages to improve your visibility and eventually will earn customers’ trust. 

4. Engage Your Local Community

You will need to relate to your target customers by availing yourself and being part of local community activities. If you get a chance to speak in local events about health or anything related to cosmetic procedures, go ahead and be open to answering questions posed by attendees. You can also relate well with locals by participating in charitable work whereby you donate both physical and consultation services. If possible, you can organize open events to enlighten people about cosmetic procedures and help them write-off the usual myths about cosmetic surgery. Every time you mingle with these people, remember to give them your business card to reach out to you later. 

In the 21st century, most of the things that work successfully are related to technology, and this is the reason why you need to utilize the internet to market your cosmetic surgery practice. However, never neglect word of mouth too because the strategy has worked wonders for many. 


Pierre Courchesne on the Importance of Customer Service

The Importance of Customer Service According to Dr. Pierre Courchesne

Many companies are struggling with their bottom lines and looking for some way to improve them. They often gravitate towards technology or gimmicks that they believe will be a shortcut to financial success, but these newer techniques pale in comparison to the effectiveness of good customer service. This practice cannot be implemented overnight, but at the same time, it is not impossible to achieve. Companies simply have to be careful and diligent in order to implement a regime that respects the customer.


Low Costs

Customer service is one of the most cost-effective ways for a company to bring in more revenue. Almost every approach to raising revenues costs a significant amount of money up front. Marketing, capital improvements, and large expansions in a workforce can cost thousands of dollars. By contrast, customer service is something that can be improved significantly with the on-the-job work training that a company is already paying for. 

Good customer service cannot be bought and implemented immediately like a form of accounting software. Individuals have to work at it and be given positions where they can implement its tenets. While the process does take a significant amount of time, it will always provide positive results over the long term if it is successful.


Repeat Customers

Customer service is also important because of its ability to gain repeat customers. Repeat customers are essential for companies to expand and make the most out of their marketing and training dollars. These customers provide much more revenue than customers who only shop at a business one time. Repeat customers make up the vast majority of companies’ profit margins. These individuals can be enticed to come back with positive customer service. Individuals look forward to seeing clerks and other employees who provide them with a high level of customer service. 

They may start to see these individuals as friends. High levels of customer service are not universal and can easily place one company above many of its competitors. This trend has accelerated in recent years with the rise of online shopping. More and more in-person companies have to prioritize customer service because they know they will not be able to compete on price with the world’s online shopping juggernauts.


Customer Loyalty

Repeat customers are different from loyal customers. A loyal customer is often so swayed by good customer service that they will continue to stick with a company despite any problems that may occur. All companies will go through certain situations that force them to harm their customers at least to a certain degree. Companies will raise prices or shut down for a short period of time in order to conduct repairs or renovations. 

Great customer service will keep individuals coming back to a company, or a firm like that of Dr. Pierre Courchesne, even during these down times. Individuals will start to develop a personal relationship with a company. If they do not shop at that company, they feel as though they are doing a disservice to a friend or relative. This attachment is greater than any possible market pressures. It can push a customer base to stay loyal through circumstances that would cause the average individual to leave almost any other business.


Conclusion



According to Dr. Pierre Courchesne, companies that believe they need to improve customer service must take action as soon as possible. Managers and owners need to hire a consultant and pick up new approaches to training and hiring. Most importantly, these individuals need to make it clear to their employees that customer service will be a priority for the company moving forward. Companies have to be careful and start working quickly if they hope to reap the rewards of good customer service as quickly as possible.


How To Build A Successful Sales Team According to Joseph Vessecchia

Having a successful sales team can translate to great success in your business. However, creating and building such a team can be overwhelming at first glance. You will need to ensure that you have quality products and services first to boost your sales team’s confidence when showcasing your brand. You will need to build and scale your team at just the right time to ensure you can keep up with deliverables and aren’t falling behind on revenue. The right time includes when your product is already getting positive feedback in the market, when the demand on your own time is too high to handle it alone, and when you are sure you can afford to meet the salespersons’ costs. Now that you are ready to build your own sales team, here are some of the tips that you can follow and build your desired team. 

1. Determine Your Goals in Building A Sales Team

If you do not have a well-defined plan for your sales team, you might find yourself hiring in an unaligned fashion and end up failing with your efforts. Therefore, first determine the type of team that you need and what each team will be doing for your business. You could be looking for field people, inside salespersons or both and unless you decide on this from the beginning, you might end up compromising your decisions. Also, understanding which size companies you’re selling into (i.e., SMB, Midsize, Enterprise) is also key. Software salesman Joseph Vessecchia says that when you are sure of the deliverables you want from your team, it will be easy to prepare the resources, processes, and support they will need to deliver their work efficiently.

2. Hire The Right People 

Once you set your goals for your sales team, use the right hiring process to ensure you get the right people to work with. They say the biggest asset in the success of a business is its employees, so make sure your staff is working for you, not against you. If you are confident about your hiring process, go right ahead and follow it step by step. However, you can also rely on a reliable recruitment agency. To make sure you get the best of the best from such an agency, provide them with information about your business, and it will be easy to match your needs with the proper staff. Once you have the right people, you will be good to start assigning different tasks according to their skills and capabilities.

3. Train Your Team Thoroughly and Motivate Them to Do Better 

If you want perfection at work, train your sales team not only after they join your company but throughout their tenure. This will keep them updated and equipped with the new trends in the industry and in turn help your business remain relevant despite the changing times. Also, plan to motivate them in different ways to make sure they feel appreciated and wanted in their jobs. For instance, you can introduce bonuses when one hits a certain target, have games especially during your training and reward those who do well in a certain task. This will encourage them to attend training programs without fail. Finally, practice fair compensation for your team before someone else promises a better deal and poaches your best talent. 

4. Provide the Necessary Resources

You cannot expect your team to perform well if you cannot provide them with adequate resources for their work. If it’s the field salespeople, provide them with either transport money or company cars to be able to move around conveniently. When they need promotional items for their sales campaigns, do not start complaining about the costs involved without knowing the reason why they are required. Be willing to compensate for call charges used by your sales team or provide them with company phones to use when contacting clients. If you tend to limit this, they will reach out less to save their money—I’ve seen this happen. You need to make your team as comfortable as you can to make their job easy, and you will certainly reap the rewards.


5. Encourage Creativity and Be A Good Communicator 

Different people view things differently and sometimes your perspective is not the best or only perspective. It is good that you listen to your sales team’s ideas before assuming that you know everything about your business and the market. After all, these people spend more time with customers than you do sometimes, and they tend to get exposed to a lot of new people and new ideas. According to Joseph Vessecchia, encouraging creativity is another way of motivating employees because they will feel valued every time their opinion is considered. Having good communication skills is very important in business and also in personal relationships. Communicate your goals clearly and be a good listener. People will trust you more when they can converse with you freely and feel like you truly care. There are many tactics you can implement when trying to build a strong and successful sales team. However, take your time and follow these simple steps as guidance once you are ready for it.


Melvin Brewing

Melvin Brewing Says, Enter The Boil Rumble

Melvin Brewing

If you think your homebrew club is the best, and you want to show it off, then the Melvin Brewing Boil Rumble is for you!

All six finalist clubs will then go head-to-head at Homebrew Con in June 2019. The winning club will receive a MoreBeer! Brewsculpture, get their beer released in cans nationally, and be part of a BN podcast highlighting their winning beer. 10 of your club members will also get free entry to Great American Beer Festival and pour at the Melvin booth.


Colby Burke Discusses 3 Reasons You Should Consider Starting a Business in Hilton Head This Year

Individuals interested in starting their own business have to make a number of decisions before taking the plunge. They have to decide what type of business they want to get into and what their overall budgets will be. Individuals also have to decide what area they want to open their business in. Colby Burke Hilton Head suggests that more of these businesses consider getting their start in Hilton Head. Hilton Head is a successful example of the pro-business climate that has allowed thousands of business to thrive across the country in the past ten years. 

Tax advantages

Colby Burke Hilton Head argues that 2019 will be a great year to start a business for a wide variety of tax reasons. The full impact of the 2017 tax law will be felt. Companies will have to pay less in corporate taxes and have a more favorable environment for investment. This favorable setting is more pronounced in South Carolina than other places. South Carolina has one of the nation’s lowest tax rates for corporations. Several prominent factories have already been built in the state over the past three years. 

Successful economy

The economy has been successful for some time and is in a good situation for corporate expansion. Interest rates remain low in many places and banks are eager to lend money to start new businesses. Wages have begun to rise after remaining stagnant and harming workers for many years. The tourism industry is still booming and has been since a few years after the end of the Great Recession. 

Areas like Hilton Head thrive when people have enough money in their pockets to go on vacation. More tourism means more tax revenue for the state and city and more money for banks to lend to new businesses. A large number of tourists also improves the chances of a new retail small business getting off of the ground. In addition, businesses that cater to other businesses find a high level of success when there are many tourists and an area is booming. 

Booming area

The island of Hilton Head is a particularly attractive place to start a business. Hilton Head has expanded past its historical reputation as a limited resort for the rich and famous. There are frequent new buildings and businesses moving in on a regular basis. New hotels, restaurants, and golf courses attract the tourists who spend their money at local businesses. Hilton Head is also attracting advanced entrepreneurs and tech businesses. These businesses can attract talent because of their proximity to the beaches and attractions that have made Hilton Head so popular with such large numbers of tourists. 

Conclusion

Starting a business is by no means a guarantee for success. Individuals still have to pour hundreds of hours and thousands of dollars into their business plan. Even the best business plans can be derailed by unseen forces. But starting in a successful area places an individual on a head start towards success. Starting a business in Hilton Head, instead of in another far-flung area, could mean the difference between success or failure for any small business.