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4 Things You Need to Know Before Starting a Business

4 Things You Need to Know Before Starting a Business
Starting a Business: You’ve probably read countless articles about it and believe you’re finally ready to take that big step. A word of caution though: once you step into the entrepreneurial waters, you’ll quickly realize that nothing has really prepared you for it. There’s so much more to it than just a good idea. It takes a lot of research and planning to prepare for starting a business. In this article, we help you save that precious time by bringing you 4 things you need to know before starting a business. Understand the Laws and Regulations One of the most important things when starting a business is to familiarize yourself with the laws and regulations that affect you. What kind of business permit or license will you have to obtain? What are the legal requirements for starting your business? How much will you need to pay in taxes? Compliance with the law is essential because you don’t want a technicality holding you back once you embark on this journey. There is a lot to consider from filing tax returns and paying your staff to protecting your business with insurance. If you can’t figure out all of these things on your own, seek help from a reputable accounting firm. A professional can guide you through these laws and regulations and help you figure out if you’re ready to start a business. Additionally, a skilled accountant will be a great ally later on in helping you manage your finances and not over-paying on taxes, etc. Is There a Demand for Your Product? Before you spend all your money on developing a product, have you researched the market? Is there a demand for such a product or service? What about the competitors? This might be hard to hear but there is a chance your product isn’t so great or needed so your first step should be to find out whether there is a market for it. Countless new ideas and products are introduced every week, month, year. But how many businesses actually succeed in surviving the first few years? About 80% of businesses survive the first year while only half of all businesses make it to the fifth year. You’ll need all the information you can gather so that you can make small adjustments to your product/service accordingly. Thorough market research will provide answers to the above-mentioned questions and give you an insight into whether it’s worth spending more time on your idea or not. Research your competition carefully. But don’t get discouraged if you discover that there are many other businesses with similar ideas. This doesn’t mean that you can’t be in the same business too. If the market is thriving, surely there is a place for one more great product. Planning Your Business Don’t Spend More Than You Need When starting a new business, most people give up a lot to finance the idea. Many get into debt, spend too much too soon and showcasing poor money management skills. This matter also requires good research. You need to know what to spend on and what can wait until your business grows and brings profit. It may be tempting to get your new office decorated, purchase some new equipment, and software, but don’t rush this. Instead, think about the necessities, what your business needs in the beginning. Make a distinction between what you must have and what would be nice to have. If you hurry up and spend all your startup money on fancy equipment and unnecessary things, you will find yourself in a pickle when a real need emerges and you can’t pay for it. Create a list of the...
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Improving Customer Experience on Your E-commerce Website

Improving Customer Experience on Your E-commerce Website
The success of your eCommerce website is usually pegged on whether customers can buy the products they need quickly and efficiently. If there are any hiccups in this process, customers are likely to leave and you will lose a sale. To ensure this does not happen, it pays to improve your customer experience. This has the add-on effect of increasing sales and profits. Below, we will look at a few things you can do to improve your e-commerce website. Use Clear, Legible Fonts Even though most e-commerce websites are not text-heavy, people still need to read descriptions, directions, and texts like on your privacy page. Improvements in this area come from selecting the right font. You want a font that is not too thin or bold, one that is not too fancy, and one that is easy on the eyes if you have a lot of text on your website. Also, ensure that the font is at least 16 pixels in size as this has been showing to be the best baseline font size. Make Your Website Responsive Mobile visitors have overtaken desktop visitors on most websites, and this might be true for your e-commerce website. If your website is not responsive, these users will have a hard time navigating the website. A simple test is to visit your website on your phone and see how easy it is to navigate. If it is not for you, it might also not be for your visitors. There are also lots of online tools that can help you know if your website is responsive and easy for mobile users to navigate. If it is not, use the reports generated by these tools to make the necessary changes. Make the Checkout Process Easy No one wants to jump through hoops when they are trying to buy something from your website. If you want customers to have a good experience when checking out, make the process as simple as possible. Collect just the amount of data you need to complete the sale and no more as people hate filling forms. You should also ask your web developer to make sure any errors that occur as the user fills the checkout forms are displayed immediately and not after a reload. Diversify Your Payment Options Everyone has a preferred way of paying. Some like paying using their credit cards, some their bank accounts, and others using platforms like Stripe and PayPal. To accommodate everyone, try to use as many payment options as possible. Users who might want to pay using a method you do not support will usually leave without making a purchase. If you do not want to add all these options, at least accept credit cards and PayPal. Reduce Banners and Popups Banners and popups are a big inconvenience for a lot of people. This is because they slow customers down when a business is running a flash sale or other promotion and make them feel like they are losing out on the deals they came for. Although these banners can help alert users to promotions and sales you are running, using too many of them can ruin customer experience. Try to use as few of them as possible. Business owners who want to increase sales on their e-commerce websites should start by improving the customer experience on their website. If you make things as simple as possible for customers, they are much more likely to purchase from you and even become repeat...
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Tips on How to Get Your Career Back on Track after COVID -19

Tips on How to Get Your Career Back on Track after COVID -19
In the past few weeks, the world has experienced dramatic changes in several ways. The job market has especially been walloped, experiencing job cuts work opportunities being hard to come by.  6 signs that the future of work is here today – gigster“A great overview by Gigster CEO Chris Keene on how the gig economy is transforming work in the enterprise by making it more customer-centric and high performance. Don’t miss the stories of companies actually doing this.” Gigster, brings together top talent from all over the world to help companies grow! This article reiterates the fact that “Work from home is the new normal.” How to get your Career Back on Track: The COVID-19 pandemic might put your career on halt for some time and affect you in ways you didn’t expect. You’ll find yourself in the valley of hard decisions. During a crisis, the urge to hide is strong, but instead, it should be an opportunity for positive change. In the place of panic and fear, take this time to prepare for a career comeback. Here are some tips you can use to reinvent yourself in the marketplace once the crisis is over.  Prepare Mentally Most organizations are doing the best they can to retain their employees. Unfortunately,  others may have no option but to let them go. If you suffer a job loss during this time, don’t lose your self-confidence.  Just because one opportunity slipped off your hands doesn’t mean you aren’t good enough for another one. Work on your confidence by analyzing your strong career skillsets. Avoid the temptation to sulk or hold a pity party for yourself.   Gauge Your Career Options Picture Credit: Pixabay When there’s a national or global economic turndown, it’s essential to be realistic and well-informed about your career options. Do you expect a transition from your current job to another? If, so, consider the types of transitions possible.  Your options include getting a different career within the same industry. You may also look for a similar job in a different industry or change your job and industry altogether. Here’s a great place to get started and you can find one that’s looking for your specific skills or experience. Here, your decision will significantly be influenced by trending job openings. Even as the economy seems to slow down, some industries seem to do really well. Most of them remain unaffected since demand is inelastic to price and income changes.  Don’t Despise a Returnship A returnship is more like an internship that targets experienced professionals. The most significant difference is that you don’t end up back at the bottom of the ladder. It lasts a few weeks to a few months, and your level of experience determines your remuneration. During the returnship, you’ll be provided with extra training and membership. You’ll be in the best position to reacquaint yourself with a new work culture as you improve dormant skills.  Different companies are launching formal returnship programs, and you may as well take advantage of them. It’ll allow you to see if it’s the right career path you want to make. If it is, you might even end up getting hired.  Think Small Businesses Picture Credits: Pixabay Having your mind on small businesses could be in one of two ways. First, you may have tried to get hired by big companies without much success. Large organizations use resume systems that may filter out your resume.  This is where you change your tactics. Express your interest in small businesses looking to hire new personnel. Most of them are willing to take chances, and once you’re in there, your chances of growth are almost guaranteed....
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How Artificial Intelligence Can Assist in Recruiting Talent

How Artificial Intelligence Can Assist in Recruiting Talent
  Finding the right candidate to fill an open job position has always been a challenging task, and the fact that the monetary cost of a bad hire can reach up to 30% of the employer’s first-year earnings only adds to the pressure. During the process, you need to ensure that you attract, hire and retain the right talent, so that your company may reap the benefits of having a skilled, engaged and productive workforce, instead of suffering because of bad hiring choices. Fortunately, with all the advancements it brings, AI has also taken the world of recruitment by storm. Many HR experts now leverage AI-powered tools to help them locate and attract potential candidates, build meaningful relationships with high-profile applicants, and make smarter hire choices. Here are the four most important ways AI can assist in recruiting talent. 1. Attract Great Candidates One of the most significant challenges HR departments face is attracting skilled staff, as 87% of HR experts claim that there is a lack of qualified applicants for the positions they are trying to fill. However, the quality of your job applicants largely depends on the initial candidates you’ve attracted to your job posting. To get more applications that match your job posting, and fewer of those who are over- or under- qualified, your job description needs to represent what you’re looking for in candidates accurately. AI-powered tools, such as Textio, can help you come out with a perfect job description that is tailored to address the needs of your potential job candidates. This AI tool analyzes over 10 million job ads each month. Due to its extensive database, and NLP capabilities, Textio gives you suggestions on how to adjust your job description depending on your industry, and offers you alternatives that better match your target audience. If you sound better to your target candidates, you’ll attract more high-profile candidates from the talent pool. 2. Improve the Quality of Recruitment Even though we hate to admit it, the recruitment process is always biased. A study has found that people with no facial flaws are more likely to get a job. When certain imperfections exist, the attention of the job interviewers will mostly be focused on these facial differences, instead of on what the candidates are saying. AI can make the recruitment process unbiased, as it can help you determine objective criteria, and act on these criteria alone when narrowing down choices and making a selection. Besides, during an interview, AI can spot some other vital characteristics that the human eye can’t easily capture. For example, in an attempt to find perfect matches for their open positions, Unilever uses neuro-science based games, as well as facial expression analysis to assess their candidates’ personalities and honesty. After the interview, the algorithm comes up with a review of each candidate, making it much easier for the HR department to make a final selection. Learn the Art and Science of Resume and CV Writing – Job Search Skills, LinkedIn and Interview Skills all Included! 3. Provide Your Candidates With Better Experience The HR department can now successfully use conversational chatbots to engage with candidates during the recruitment phase, and significantly improve their experience with a potential employer. An AI chatbot can be used to answer candidates’ most common questions, to inform them about the status of their application, and update them on all the recent developments. Many companies don’t follow up with their top candidates after the interview, which severely damages their reputation and their chances of making the best hires. AI chatbots can be there to keep the communication lines with the top candidates open, showing them respect and...
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How to Create the Best Environment for Your Employees

How to Create the Best Environment for Your Employees
For employees working within the fast-paced world of modern industry, the workplace can sometimes feel like a treadmill that never lets up. As a manager, employer or business owner, it’s your responsibility to ensure that those working within your company can do so in a safe and positive environment. Creating better workplaces allows individuals and teams to achieve their best results, so it’s very much in the interest of everyone going forward. That said, let’s take a look at some easy to implement techniques that can help to encourage a positive atmosphere for your team. Keep Your Employees Motivated and On-Task  In order to get the most from your employees, it’s crucial that they remain motivated, engaged and focused on the task at hand. When minds wander so too does performance. There are several ways to do this. In production environments, it’s par for the course that employees will be carrying out similar tasks day in day out, and this repetition can lead to boredom and low productivity. Try to ensure that staff who are carrying out repetitive tasks cycle through a few different roles on a daily or even weekly basis, that way, reducing the chance for boredom to take hold and keeping them focused on the task at hand. Check out this guide from Inc on how to keep your employees motivated and on task. Regular Service and Maintenance of Machinery  A safe working environment is always conducive to positivity in employees, and one of the best ways to ensure that your workers are safe, especially in an industrial setting, is to keep on top of regular service and repair. Maintaining machinery such as a conveyor belt entails regularly checking fluids and oils and changing spare parts and consumables at specified intervals or where necessary. In order to ensure your machinery is running, safely follow your user handbook down to the letter and be sure to report anything unusual for a follow-up investigation. Faulty machinery can cause injury or even worse, so it’s not the time nor place to cut corners. Visit fluentconveyors.com today and find out more about the parts, service and repair packages they offer for conveyor belt customers across the globe. Create a Positive Working Environment for Staff  Creating a positive environment is crucial if you’re looking to get the most from your staff and there are many ways this can be achieved. It might be worth considering promoting or rewarding high achieving teams and individuals as a way of getting the message across that hard work pays off. Additionally, make sure that employees have a safe space to get away from their work such as a canteen or rest area. Having a comfortable place to relax and take a break from work, particularly in a noisy industrial environment, can make a real difference to the health, happiness and wellbeing of your workers. Taking the time to invest in your people is one of the safest bets for improving the production capabilities of your business and there are multiple ways to achieve success in this regard. Playing the long game and investing in better environments, safer workplaces and including better rewards for your workers will make a huge difference and in the end, will result in improved...
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