Saturday, August 25, 2012

How to Refresh Your Marketing Strategy With Tins

Marketing and tins, now there's a combination you don't hear of every day. Usually, if we think of tins, we think of those things that store our food and sit tucked away in our cupboards. The last think most of us will think of is a novel marketing strategy. Nonetheless, a novel marketing strategy is just what you can achieve with tins if you know how to use them. You're looking confused right? Don't worry, that's perfectly natural. Read on, and that confusion may turn into wonder.

So, what on Earth do tins have in common with marketing?

Well, before we start, let's clear one thing up. We are not talking about your tin of peas in your cupboard. Giving that to a potential customer with a verbal note of 'buy our products' is just absurd, unless you're in the business of selling peas, of course. Instead, we're talking about how you can create personalised tins and use them as a great marketing tool. There are a few tin wholesalers out there who can customise both the shape and design of their tins for you to use. You can bulk order these tins and use them for marketing.

Why bother with tins?

Now, you may be thinking why you should use tins instead of your more conventional marketing methods, such as flyers or brochures. To highlight why you should bother with tins, think about what you want your marketing to do. Ultimately, you want it to leave an impression, make an impact, and hopefully make a few sales for your business.

Conventional marketing is a risky game. In this extremely competitive business world, everybody is ramming flyers and brochures down the throats of the public. The end result is your average man on the street ending up with a handful of marketing material that all looks similar. What do you think they do with all these flyers? Well, in case you are in the dark, most of them will chuck them in the bin without even reading them. That's just a hard truth that needs to be acknowledged.

So, why tins?

Because tins are a completely different form of marketing. They provide a nice, refreshing change to the man on the street when they are bombarded with flyers and brochures. If you are walking down the street and ten people hand you a flyer, and one hands you a neat little mint tin, what is going to grab your attention?

That's right, the tin will. Why? Because it stands out from all of that background marketing noise. It's novel, it's different, and it's actually useful to the average Joe. At the end of the day, who doesn't love a free tin of mints?

A tin is also much less likely to make it to the bin before it is read, unlike your flyer or brochure. Instead, every time it's taken out of a pocket for another mint (or whatever else), there your company logo and contact details will be, seeping in to the mind of your potential future customers. Plus, a tin of mints can last a little while, and the tin can be re-used, so the window of opportunity of your business being noticed is much greater. It doesn't take a rocket scientist to acknowledge that fact.

Friday, August 24, 2012

Integrated Business Management Systems

Within the scope of this article, an integrated management system is considered as a management system encompassing ISO 14001 plus at least one other management system - in a growing number of cases this means ISO9001 and/or ISO18001. Such systems can run concurrently with each other within an organization and are capable of being audited seamlessly to a recognized standard.

Management system integration is still concerned with elements of procedural compliance and considers the broad criteria required to effectively operate a business, such as;

• Management roles, responsibilities and accountabilities
• Business processes
• Deployment of resources, skills, knowledge and technology

These aspects are integrated to ensure that the business delivers its aims and objectives. The objectives of the business include elements of quality, the environment and occupational health and safety. These objectives will often match the requirements of customers and stakeholders;

• Safe and reliable products and services
• Return on investment
• Reliability of supply
• Profitable business
• Fitness for purpose
• Legal compliance
• Environmentally safe product
• Positive image
• Value for money
• Growth

In many ways, these requirements are not met merely through environmental responsibility but by a much wider range of employer care and responsibility. This is key to understanding why organizations integrate management systems in the first place.

Two principal reasons for management system integration are;

1. Reduce costs to the business and add value to processes

Costs referenced herein relate to the most efficient use of management time, including better use of auditors' time. The reduction in management time has significant internal cost benefits, for example, more efficient maintenance of the management systems. The burden on management time within the organization can be reduced if all management system elements can be addressed at the same time.

For example, fees incurred to carry out routine system surveillance can be minimized by conducting a review and audit of the environmental management system (ISO 14001) alongside the quality management systems review for ISO 9001.

2. Reduce business risk

Most forward thinking organizations look at three primary components when considering business risk;

• Quality - what are the risks of supplying products or services that do not meet customer requirements and do not keep up to date with changes - the basic concept of continuous improvement. ISO 9001:2008 reduces this risk.
• Environment - what are the risks of not complying with legislation? News and social media has heightened customer awareness of environmental issues and poor practices and a business risks adverse publicity if it is perceived as not taking its environmental responsibilities seriously. ISO 14001:2004 reduces these risks.
• Occupational Health and Safety - what are the risks of causing injury to the workforce through negligent work practices? These risks range from loss of productive time to civil or criminal proceedings against an employer, with associated financial penalties and reputational damage. OHSAS 18001:2007 manages these risks.

Wednesday, August 22, 2012

How To Find Customers For Your Business And Market Effectively To Them

The question of how to find customers still looms large for every business that opens. No matter what type of business a person has, in order to be successful they need to reach their target market plus effectively promote the company to these consumers.

The first step in finding customers is actually knowing who the target market is. For example, a technology company is not recommended to pitch their latest and most advanced gadget to individuals who don't use computers. They need to advertise themselves in areas where there are individuals who use the latest technology. Many of these consumers are online already using technology. In such a case, the company may want to create a free application and offer it to the public.

In doing so, the company asks for the email addresses of the individuals who are interested in the application. With such details, they have an email list started and can send the news of their advanced gadget to these interested individuals.

Of course, these promotional techniques vary according to the product and this above scenario is just an example. The answer to how to find customers depends on what the company is offering. Other methods of finding the customers include using social media networks to browse profiles; utilizing business directories if a company deals in wholesale or business services; sponsoring events for relevant charities or causes; attending meetings with potentially interested consumers; joining forums that discuss topics relevant to the business; and the list goes on.

With any of these methods of finding customers, it is important to keep in mind that a company will only find consumers if they are in areas where the two find a common ground. For example, a single individual with no children is not as likely to be found looking at large family sized vehicles as would the parents of four children.

Once an entrepreneur finds the customers, they need to start marketing a small business in such a way that catches the attention of the consumers. The right words, advertisements, and free offers often work. Marketing in business isn't usually focused on one area so several types of promotion is generally advised.

The budget for the marketing has to be realistic. For this reason, a person must research the costs for marketing and may utilize as many free promotional tools as possible while still being effective.

Marketing a small business takes careful planning and good strategies. It is important to relay to the potential customers why a company is unique and why that business should be chosen over others.

Sunday, July 29, 2012

Small Business Loans - Qualification and Benefits

If you're starting a new business, a small business loan can help you get started by providing working capital to build a store, buy inventory, or promote your business. But how does a small business loan benefit you in real terms, and do you even qualify for a loan?

What is a Small Business Loan?

By definition, a small business loan is a certain amount of money that is borrowed by a person who wants to start or operate his or her own business. It is basically a type of personal loan given by lenders to small business owners.

There are several types of small business loans. Unsecured business loans are issued by a lender based on your credit alone without any sort of collateral. Usually, you will need a high credit score and a very good credit history as well as have a stable personal finance situation.

There is also business financing that can be based on collateral such as real estate collateral, a vehicle or property that is free and clear of debt, and so forth. Then, there is a commercial real estate finance loan for which money is granted for a commercial property that is to be used for business. There is also a business line of credit, which is a fixed, predetermined amount of credit that a company can borrow against as needs arise. The borrower will only be required to pay interest on the amount used.

Benefits of Small Business Loans

Obtaining a small business loan for your new business can bring relief in many ways. It can give you working capital to help build your business, promote it, and keep inventory. It can also help with the costs of hiring employees if needed at the start. A small business loan enables you to grow your new business without the financial stresses of a new business. Also, the interest on a small business loan is tax deductible.

Small Business Loan Qualifications

Once you understand how business financing works, you must consider whether or not you will qualify. It's good to know this before you apply so that your credit history will not show various credit checks and inquiries from lenders, which can lower your credit score for the future.

First, be sure your personal credit history is in order. Find out your credit score by requesting a copy of your credit report. There are many online resources available to check your own credit history. Also, be sure your personal bill and loan payment histories have been consistent and on time over the past two years or more. Small business lenders are likely to base your approval on your personal credit history, especially if you do not offer collateral.

Next, ask the lender directly about their business loan qualifications. This can eliminate any questions in your mind before applying.

Finding a Lender

Do some research to find a small business lender that's right for you. Check around online for interest rates, small business loan plans and qualifications, and for flexibility. Some lenders will offer creative small business loan options to work with your particular situation. Some lenders make it easy to get approved while others make it almost impossible. Look for a lender that is easy to work with from the start. Ask about early pay-offs, lines of credit, flexible financing, guaranteed interest rates, and any fees you will incur by using their services.

Saturday, July 28, 2012

Internet Marketing For Small Business

Internet Marketing for Small Business - The Basics

If you aren't already familiar with internet marketing for small business, it is important to know just the influence it can have for your business in generating a larger consumer base. The processes involved in web marketing are a bit different than that of traditional marketing, but offer a much stronger approach. The actual impact web marketing campaign can have for a small business is well above that of traditional marketing, allowing small businesses to target the most consumers with ease and great management of the venture. Marketing through the internet provides a highly effective management of the marketing attempts and provides several tools and resources that are also quite effective in marketing any small business to great heights.

Internet Marketing for Small Business - Creating an Optimized Site
The first step to any internet promotion venture is to ensure that there is an optimized site. Search engine optimization (SEO) is becoming a large figure in marketing today, and involves several processes that must be performed appropriately.
  • Keyword research and development
  • Keyword placement through text, tags, and descriptions
  • Back linking and link exchange
  • Registration with search engines
From the very moment you choose a site, SEO should be on your mind. Internet marketing for small business is a powerful venture but even the start must be appropriate.

Internet Marketing for Small Business - Targeting the Audience through the Search Engines
As you begin your internet marketing venture, you will realize that you are considering your audience in every step of the way. You choose keywords that are likely to be searched by your target consumers, and you are exchanging links with other sites that your target consumers are using. The thing is, internet marketing for small business has another target in mind: search engines. The most popular search engines include:
  • Google
  • Yahoo
  • Bing
  • MSN
SEO should play a key part in your internet marketing for small business efforts. You are targeting these search engines as well, seeking to be indexed as much as possible, receiving the highest search engine ranking possible. Why? Mainly because your target consumers get online and choose one of these search engines to search for what they need. They type a few words in the search bar and there is a search engine results page that shows up and you want to be at the top, because 9 times out of 10, your target consumers are choosing between the first 10 sites as the business for their needs.

Internet Marketing for Small Business - Social Networking is exceptionally effective
More and more these days, internet marketing for small business is performed through social networking. There are several different types of social networking sites including blogs and forums and networking sites such as LinkedIn, Facebook, and others that are becoming popular, in which an entire community gets together in order to discuss services or products, and you want your business to be in the discussion.

Through the use of keyword rich blogs and articles, you can communicate with your target consumers, providing them with solutions they may need in order to gain their trust in your services or products. These blogs can contain links to your pages, but most importantly should assist in building an email list through opt-ins and subscriptions.

Friday, July 27, 2012

Business Planning Is Essential Whenever Starting a Company

Business preparation is essential anytime you think of starting a company, a key component of which is researching the market. A product or service provides very little value or real worth unless it provides a distinct benefit and appeal to the target industry, competes with key rivals and fits in with the general industry.

Numerous business owners will agree that profitability is really a key sign of business success and most calculate their improvement by monitoring sales as well as market share improvements. Business owners are often on the search for new and improved ways to increase their company growth, however many don't see the outcomes of long term business sustainability and business planning. For some, it is a tedious procedure that they do not have time for, whilst other people are unsure of how to proceed.

Business planning is an ongoing business activity. As your business changes many of the techniques in your plan will need to develop to ensure your business is still proceeding in the correct direction. Having your plan present can keep you focused on where you are proceeding and ensure you are prepared when you need it once again.

Every business operator goes through all sorts of dilemmas during the life of their business. Losses are incurred a lot more than profits and the company resources are simply going down the gurgler. The business owner tries very hard to stop this continuous downfall associated with these issues and is always looking for a way to turn things about for good. Nevertheless, things don't go nicely if a correct business plan is not incorporated.

There is a tendency to think of business planning as simply something to be completed when your financial institution requests it or possibly there is a need to raise extra finance. Even though having a business plan will assist, its true purpose is far more important than merely the production seeking funds. It is also not something which is undertaken every couple of years but rather is really a continuous continuing exercise.

Business planning is important to an organization, however, a few small business owners are occasionally intimidated by the whole process of writing their business proposal and that's why they would rather not do it. The rationale is that their business is small and doing a business plan takes up much time.

Business Planning is an essential requirement for long-term business achievement. Substantial studies have indicated that companies that plan effectively possess a greater probability of operating Ten years after commencement. A great strategic business plan includes a statement of economic objectives, an advertising and marketing plan, a production strategy and an operating plan. When finished, a plan should be reviewed often to ensure that real business actions are in line with the plan. Be prepared to change your plan in the event that there are major shifts in the industry, market or general economic conditions.

Thursday, July 26, 2012

Business Etiquette Resolutions

Do you want to grow your business this year, attract more customers, keep your current ones and increase your bottom line? If you answered "yes" to any of those, here are my top ten business etiquette recommendations for you.

1. Be on time for meetings, presentations, workshops and networking events. People who habitually arrive late send a clear message that their time is more important than everyone else's. They develop a poor reputation, and they miss out on information and opportunity. Keep in mind that if you are not five minutes early, you're late.

2. Pay more attention to your professional attire. Resolve to dress like the polished business person you are. People do judge you by your appearance. Your 9-5 wardrobe should be different from your after five clothing.

3. Send more handwritten notes. Take a few extra minutes when someone does something nice for you and write a thank you note. You can send an email message of appreciation, but follow it with the written one. You'll stand out from the crowd of your competitors.

4. Be more tolerant of people from other cultures. Our business world is shrinking, and we find ourselves connecting with people from all over the globe. Take time to read up on international etiquette so you can understand and appreciate cultural differences.

5. Call people by name. Using names in conversation makes others feel valued and acknowledged. However, make sure you are addressing them correctly. Don't assume that "William" wants to be called "Bill" or that your new business client wants to be addressed by first name. Wait until Ms. Brown asks you to call her Mary. Until she does, use her title and last name.

6. Resolve to use the phone more often. We live in a world of email. Some people think that it is the only way to communicate. Email is intended to transmit information quickly and efficiently. It does not build relationships. Make sure you take the time to talk to your customers, particularly about complicated or sensitive issues.

7. Be dependable. Say what you will do and do what you said. Your credibility will go right down the tube if you promise but don't deliver. The same goes for deadlines. If you promise to have the project done by Monday, do it. If you find there are obstacles to meeting that deadline, alert the other person.

8. Use your cell phone with courtesy and respect for others. By now everyone should know to turn that phone off in meetings or at least put it on silent ringer and never take a call during a meeting. Even those people who consider themselves to be polite because they leave the meeting to take the call are clearly sending a message that they have other more important business than the meeting. Continually coming and going is insulting to the meeting leader, workshop presenter and other attendees.

9. Pay attention to your cubicle etiquette. Not everyone has an office with a door these days so keep your voice down, turn off the ringer on your phone while you are away and don't eat noisy or smelly foods at your desk.

10. Take time to be nice. Everyone is stressed and overworked, but we shouldn't be so busy that we can't take time to be kinder to others. I have heard too many people say lately, "I don't have time to be nice." If you don't have time to practice good manners and follow the rules of business etiquette in the workplace, you soon may find yourself without customers, clients and colleagues. In today's economy it pays to be nice more than ever.

When you commit to these ten resolutions every day, you will see your customer base and your profits grow.

Tuesday, July 24, 2012

Financial Planning Can Be As Easy As Counting

The concept of financial planning can be overwhelming for someone fresh out of school who never did quite well with math. The truth is, financial planning is not restricted to the number-loving elite. As long as you stick to the basics, it can be as easy as 1, 2, 3.

First rule would be to establish realistic goals. Your targets may be short-term, medium-term, or long-term. The ones you would like to attain in less than five years are short-term. They could be furniture for your household, a brand new car, or your romantic honeymoon. Spending money on your child's tuition fees is medium-term, while retirement-related objectives like traveling are considered long-term.

Next rule is on handling expenses. Simply put, this is about budgeting. Budgeting is not synonymous to self-deprivation. It's simply exercising discipline in not spending more than what you earn. More savings will help make your goals closer to your hands. Steering clear of debts is also an element of budgeting. Credit cards are probably the deadliest temptations. Their harmless plastic forms that fit our wallets nicely makes us forget that its still money that we are dealing with and losing with every swipe. Making use of credit cards and not being able to pay them on time causes us to end up paying more than the original fees. Utilising cash makes us more mindful of spending.

The third rule is about saving. Putting away at least ten percent of your regular monthly salary is an excellent start. Saving success are results of budgeting efforts too. You can save much more if you budget well. There are also cost savings programs at your place of work where money is automatically reduced from your payroll check so as you would no longer be tempted to spend it. Personal savings are important for emergency expenses, and they become the source of capital for your goals.

Monday, July 23, 2012

Choosing The Best Investment Funds For You

Making the decision to save for your future, is probably one of those key life changing moments that you can only look back on and be glad that you made. But once you have decided to start investing in the future, how do you make sure that you choose the best investment funds that are going to perform as well as you expect.

For most people, investing in funds rather than trying to select individual stocks and shares makes putting their money in the stock market a much easier and less stressful process. Unless you know exactly which company you would like to invest in and are sure that their performance is going to yield the return on your capital that you require, investing in a fund will give you the opportunity to spread your risk across a range of equities that have been carefully selected by experienced professionals who are able to balance the level of risk and return to offer a fund that will meet your needs.

This is especially beneficial if you are new to stock market investment or simply do not have the time, experience or inclination to personally manage your investment on a day to day basis. By joining with others in a fund and spreading your investment over a range of investment opportunities, you are less likely to loose all your initial investment and have a higher chance of growing your savings for the future.

Such an investment fund will usually have an experienced fund manager at the helm that is able to make your money work efficiently and provide the best rate of return possible. By exploiting accelerated growth in buoyant times and minimising overall risk in times of recession, you can be confident in the fact that there is someone keeping a continued eye on your investment that has the experience to work within the market and create an overall performance for the fund to ensure that you achieve the very best rate of return at a level of risk that suits you.

However with high performing funds and reputable fund managers comes a charge for these services which can be on average between 1% -1.5% per annum with initial start up fees of up to 5%. Such charges can make a significant impact on the value of your investment but can be worth the initial cost if the fund manager performs at his best.

Proven Ways To Earn Money By Affiliate Marketing

ClickBank is one of the most popular way to earn money online, all you need to do some search about some good gravity products. In this article, I'll provide you some good tips to start earning money as an affiliate-:

1. Before start working as an affiliate online, buy a domain name to make a good landing page. A good landing page convert more. Don't use direct affiliate links.

2. Don't try to sell product, buyers always comes to your site to solve their problems, so try to become friendly with them and give them an honest review about the product.

3. Add a subscribers list in your website or blog, this will help you to send more offers in the future. Never send spam emails, this will make them to opt out from your list easily. Offer them any free e-book, so they can subscribe to your email list easily.

4. Many peoples says that, good gravity products convert good then other. But always choose a product, which has good popularity.

5. There are many ways to promote ClickBank products, some of them are article marketing, AdWords, SEO, and you can also post the ads in free classifieds website. Many peoples also promote their products in Facebook and other social networking websites, but they converts very low. Article marketing is one of the powerful method to get good conversion.

6. Don't promote your affiliate link directly, convert them by shortly or hide them. Peoples don't like to go on long links.

7. ClickBank has many products, some of them offers trial membership, this can convert visitors into buyers easily. You can also promote recurring products, and get paid many times in a month or week.

8. Affiliate marketing is one of the best way to earn money, one of the best feature is that, you will get paid on sale basis but if you'll join AdSense then you'll get paid on click basis and one of the risk is that you can lose your account any time, due to invalid clicks.

Monday, June 25, 2012

Banking Innovation: What's the Same, What's Different, In the Developed and Developing World

If there wasn't enough focus on it already, the financial crisis has taken innovation to the top of most banks' agendas. In mature as well as emerging markets, banking institutions are differentiating their value proposition from that of their competitors by innovating upon their offerings, benefiting both customers and the organization in the process.

The pursuit of globalization and global standardization by banks has meant that innovations that originate in a particular region make their way quickly across the world, so that banking customers everywhere enjoy a similar, if not the same, usage experience.

That being said, there are many differences in the way that banks from the developed and developing worlds innovate, arising from other fundamental differences in their respective markets. The nature of these factors and their causative impact on innovation differentiation is discussed below:

Market Maturity

A research report presented by The Asian Banker and Finacle from Infosys on the innovation trends and practices in Asia made an interesting observation about how banks go through successive stages of innovation - from Product to Sales to Market Share to Customer Service Innovation - depending on market maturity. Therefore, while banks in Bangladesh, Sri Lanka, Vietnam, and rural China and India, which have large unbanked segments focus on introducing basic products, their counterparts in the competitive Australian, Singapore and Hong Kong Markets are more intent on defending their market share by providing accessibility, convenience and cheaper distribution.

Customer Universe

Given the high penetration of banking services amongst developed nations, a bank operating in those markets can only grow its market share at the cost of another. On the other hand, developing countries house the majority of the 2 billion-strong global unbanked population and hence have more room for growth and relatively less aggressive competition. Here, banks can grow along with the market by bringing those without financial access into the net of basic banking services.

Although financial inclusion is a much larger priority - and opportunity for innovation - in emerging economies, it does not mean that it has no place in mature markets. In fact, the U.S. alone was estimated to have over 70 million unbanked/underbanked people in 2009. However, the nature of the problem is quite different there. Financial exclusion in the developing world is essentially on account of poor branch penetration in rural or remote areas, whereas in developed countries it is quite often, a voluntary decision or the result of inability to meet KYC norms - the Hispanic immigrants living in the United States are a classic example of this phenomenon, choosing to rely on informal networks or carriers rather than on a bank to send money home.

High Net Worth Segment

In every banking market around the world, High Net Worth Individuals (HNWI) are top-drawer. Because the financial elite come in small stable numbers, (even in 2020, the U.S., which has the most HNWI, will have less than 21 million millionaire households) acquiring such customers in both developing and developed markets is usually a matter of poaching them from rival banks. Also, since the ultra-rich are the same everywhere, having similar needs, wealth managers and private bankers in both the developed and developing world follow a largely similar approach while serving these customers. A key difference however, is that the HNWI segment is growing faster in emerging markets thanks to their rising prosperity as a result of which their mass affluent are turning rich and the already rich are turning richer quicker than their mature market counterparts. This is creating more opportunities for innovation in emerging nations.

Telecom and Payments Infrastructure

The well-established telecommunications and payments infrastructure of the developed world facilitates banking transactions over multiple channels, such as the phone, ATM, POS terminal, Internet and mobile, and payments through several additional modes including cards, giros and third party payment gateways like PayPal. Unfortunately, such facilities are either missing or very poorly developed in developing countries - infrastructure for financial transactions is still in its infancy and only a limited number of payment options exist.

However, with mobile networks penetrating remote corners of the developing world that still lack basic channels of banking and communication, the mobile phone is emerging as a viable mode of payment and financial transaction. Banking innovation in many emerging economies is focusing on mobile phone-based services, albeit of a basic variety. On the other hand, in the sophisticated mobile markets of the developed world, it's the Smartphones and tablets that are taking banking innovation towards augmented reality, location-based services, contactless payments etc.

The most interesting contrast though, is that while the infrastructure of developed countries has enabled high-end innovation, it has mostly brought incremental change, whereas in the developing world, the absence of infrastructure has forced industry players to look for breakthrough, at times disruptive, solutions. The development and success of M-PESA, a mobile phone-based money transfer service in Kenya is a perfect example of the latter.

Customer Need

In many emerging economies, a sizeable majority of people are first or second generation banking customers and therefore, relatively new to such services. Therefore, the product and service expectations of these customers are quite different - and dare we say, less evolved - than those of mature market customers, which has a strong bearing on innovation.

Branch banking is a classic example of this difference. Bank branches located in emerging markets are mainly concerned with processing a large number of small-ticket transactions as efficiently as possible. They are interested in innovations that cut cost, improve productivity or ramp up scale at the branch. In contrast, branch banking is on the decline in mature markets, where customers use electronic channels to conduct routine transactions. In these markets, branches are focused on delivering financial advice and high-end services; therefore, their innovation priorities revolve around improving customer experience within the branch.

Legacy Burden

In a 2010 survey of banks in Europe, Middle East and Africa presented jointly by the European Financial Marketing Association and Finacle from Infosys, nearly two out of three respondents from the mature markets of West Europe said that inflexible legacy systems posed a barrier to innovation. Indeed, this is symptomatic of the banking industries of most developed nations, which are struggling to implement new ideas, hindered by their burden of legacy. For instance, in the U.S., the legacy infrastructure supporting card transactions is so widespread that replacing it in order to switch to new robust EMV card technology is both prohibitively expensive and extremely difficult to implement. On the other hand, adopting new technology is much simpler in the developing world, which is unhindered by legacy issues. Not only that, freedom from legacy has also allowed banks in developing countries to come up with unique products that were unheard of in the rest of the world.

Cost of Innovation

It is found that the cost of implementing a completely new system in the developing world is lower than that in the developed one. Often, the developed world has heavy investments in an existing technology and an inventory of infrastructure on which the return is yet to be fully realised. The developing world has no such legacy investment in infrastructure to worry about, and hence innovations are comparatively cost effective.

The tables are turned in the case of incremental innovation, which typically works around existing infrastructure or investments - available in the developed world, but not in the developing. Therefore, in order to adopt or innovate upon something that isn't totally new, the developing world may first need to make sizeable investment in basic infrastructure.

Sunday, June 24, 2012

Finding The Best Business Insurance

Just like any other property, businesses need to be insured. This ensures that you will get compensated in case of any unprecedented loss that might occur. The cost for that varies from one company to the next. That is why it is important to know how to get the best business insurance at the most affordable price possible.

To do this you need to first know the features of ideal business coverage. It should comprise of general liability, property and workers compensation insurance. Those are just the basics. There are other covers, but the ones mentioned above are the most important.

General liability cover usually handles any legitimate or fraudulent claims made against your company for things such as bodily injury to non-employees, malicious prosecution performed by the company, personal injury through false imprisonment, damage of property and advertising injury. It not only covers the damages against you but also the legal fees involved.

Property coverage caters for loss of physical possessions due to accidents, theft or fire. It enables you to replace office equipment and furniture, inventory, supplies and in some cases the building itself. This is done by replacing the value of items that have been lost or their value of depreciation in cash form. It is up to you to decide, depending on the capital you have.

When you take the depreciated cash value insurance, you will be able to save money by paying lower premiums. However, in the event of a great loss you will be on the losing end. This is because some of the items that have been lost might not be available at the depreciated cost, and you might have to use your money to cover the deficit, in order to replace them. So, it is better to go for the replacement cost coverage.

The workers compensation cover, gives cash rewards to employees who get disabled or injured due to work related activities. This coverage is usually required for every company. In some cases it is even required by the law that every business acquires it.

Saturday, June 23, 2012

Who Can't Get a Payday Loan?

Though payday loans are generally considered the easiest way to get a loan and the fastest for that matter, not all people who apply for a payday loan gets approved. The following are some of the basic reasons that people get denied when applying for these types of loans:

Most of the people who get disapproved when applying are those that don't meet or earn the minimum income required, or ones that don't have a regular job. Even the most considerate and flexible payday lenders can't afford to loan money to someone who grosses less than the minimum wage.

Getting a payday loan is more difficult to get for someone who's self employed. Most lenders don't usually accept self employed applicants for security purposes. Lenders who do usually require bank statements of previous months to verify stability of income.

Most payday lenders universally require applicants to have a bank account. Payday loans typically are due to be repaid on or the next payday. And usually, money will be deducted from your bank account as agreed. Having no bank account makes it harder for lenders to accept payment though.

As suggested with the term "payday loan", you must have an income or payday to qualify. Even a healthy savings account will not get you approved if you have no income. But come to think of it, why would you get a loan if you have a good amount of savings right?

What's always a red flag for payday lenders is having an outstanding loan with other lenders. Someone with several outstanding loans is viewed as a serious risk for returned checks and defaults. Most lenders use verification services to identify applicants having multiple outstanding cash advances, and to confirm the banking information provided. If you ever have a bad record with previous payday lenders, this information will decrease your chances of getting your loans approved.

Bankruptcy (especially in the last year or two) will also make it more difficult for an applicant to get a payday loan. Though the provided information given to the lender is not a credit report, a recent bankruptcy will be revealed. Until you fix your name along with the bankruptcy reflected on your record, you will be considered financially unstable and thus ineligible to get a payday loan from lenders.

Friday, June 22, 2012

Money Saving Ideas For Everyday Budgets

Planning ahead to save money is the best beginning to a more secure financial future. How that looks in reality can be pretty confusing. Take the time to think about where you can cut costs and where would be the best place for that extra money. You would be surprised at how easy a few dollars here and there can add up to major savings.

Do you make your own lunches and bring them to work? Do you have a travel coffee mug that you fill each day from home? Making small changes like these will save a bundle each day. Lunch and a coffee even a few times a week can add up. Even if you only spent about $2o each week, and that is only a few stops during the work week, you could save $1040 each year. If you think about how fast it is to spend $20 each week on things you really didn't need to purchase.

When you go to the grocery store, do you bring a list of items you need for the week? Have you somewhat planned out the meals around the busy day to day schedules for you and your family? Did you eat before you hit the grocery store? It is pretty much guaranteed that if you go to the grocery store without a list and/or on an empty stomach, you will be buying things that do not fit into your budget. Using coupons and working the competitive sales between grocery chains will also get you to save more. Spending extra adds up quickly, especially when most families make more than one run to the grocery store each week. Once again, if you saved $20 each week, you would be saving another $1040 each year.

Just with these two changes, there is all ready at least $2000 that you could save. If you look closely at how much you actually overspend on just food items alone, that money could serve a more useful purpose in a savings account, paying down debt, or investing in a retirement fund.

Thursday, June 21, 2012

Personal Financial Improvements

Tips For Getting Your Personal Finances In Order

Learning that you have a lot of unpaid debt can be a frightening situation for anyone, especially if it seems like you have no way to pay it back. Read this article for some tips on how to manage your personal finances so you can avoid these problems in the future.

In order to improve your personal finances, it is helpful to keep track of your spending. One way that you can do this is to only make purchases using a debit or bank card. If you use cash, it is more difficult to track using budgeting software, whereas purchases made with bank cards can be tracked easily and help you to identify trends in your spending.

Save as much money as you can every month. Having a solid amount of savings on hand is very useful in case of any emergencies. It will enable you to avoid taking out loans or suffering great losses, like your car, simply because you could not afford what you needed at that time.

If you are plagued with credit accounts that have been turned over to collection agencies, you can save money by negotiating a smaller settlement to pay them off. Many collection agencies would rather get something for the account, than paying the high cost of attorneys and court fees trying to collect their money.

Set aside a small amount of money from each paycheck to use however you would like. For example, you might decide to go bowling with friends or treat your child to a frozen yogurt. Do not spend more than the predetermined amount; this method allows you to have a little freedom while still keeping your spending under control.

If you get a pretty sizable tax return, do not think of it as "extra" money. You should look at it as money that can be used for investing. Since it is money that you would not have had otherwise, you can use it to take a few financial risks.

Work on saving money on clothing by, going minimalist. Buy pieces in solid colors. Make sure that each piece is interchangeable, with others in your wardrobe. Use patterned scarves, interesting belts, and decorative jewelry, to add spice to your outfits. Stay with basics, and only buy a few trendy pieces each season, to keep your wardrobe updated.

A great personal finance tip is to be conscious of how much water you're using each month. A lot of folks take water for granted on a daily basis and often forget how much running that water will cost at the end of the month. Keeping water intake down can save a lot of money.

Avoid buying junk food. These foods can be expensive, and even if they're not, the cost of them can really add up. If you cut out buying a lot of junk food, not only will you save money, but it'll be healthier for you. It's a win-win situation for you, and your family.