It’s likely that there’s nothing more stressful in the world than running a new startup business.
Not only are you attempting to build a business from scratch with limited resources (budget, staff, and marketing exposure), but you have to balance all of these considerations yourself.
Building a product line, marketing your offerings, and reliably fulfilling these product or services is difficult enough. Add to that installing the infrastructure for your business to expand while balancing your growth and you’re in a sticky situation if you’re inexperienced in managing a startup.
Many people who run startups are new to the world of business or are simply trying the ‘what if this works’ attitude towards creating something interesting.
Odds are you’re a beginner entrepreneur, not a 67-year-old veteran CEO with decades of executive positions or you wouldn’t be reading this article in the first place. And if you are, starting a new business is still a giant challenge.
Though that previous paragraph about the difficulties shouldn’t dissuade you from starting a business.
In fact, if you have a solid idea and enough capital to begin your operation then don’t worry too much worry about the beginning days.
You’ll be saving cash up front by being a team of one while you do market research and ensure you’re offering something people are willing to hand over their hard-earned dollars to receive.
And when all you have is yourself to rely on, you have a great degree of freedom to run the business as your heart pleases.
However, the following tips will help you make life easier on yourself so that you can get to the most important duties of your new business.
Cofounder Isn’t A Dirty Word
Many people feel that because they have taken the risk to break from the world of business, they have a right to run the operation all by themselves.
There is absolutely nothing wrong with that feeling, but it can leave you a little out in the cold and isolated, especially when you have no one to rely on but yourself and things start going wrong.
Why not consider opening your startup with a cofounder? Two heads are usually better than one, and more importantly for business, two wallets are better than one.
A cofounder is the only person in your startup who will understand your humble beginnings as profoundly as you do, and in that case they will be much different to a standard employee, intern or subcontractor.
They will be more than happy, as you are, to potentially not take a salary or work an excessive amount of hours a week to get the project on the right track because they understand to a surgical level the sacrifices, investments and difficulties you have made to begin your pet project.
Just make sure your cofounders skills complement your own, and don’t simply open a business with someone because you guys are friends.
That can lead to some real issues long-term.
If you’re struggling with a highly specific duty and have limited funds to hire a new staff member and give them a salary, it might be worth checking out what contractual workers you can get your hands on.
Hiring a full-time staff member is a big commitment since you’re responsible to look after them well, pay them a decent wage, as well as having to navigate all of the contractual and dismissal working rights if they come up.
While the goal for the future should be having a full team all working at making your dream come to reality, it’s likely that you’re not quite there yet.
So in the meantime checking out the local talent might be worthwhile.
In an effort to save money, many startup hosts refuse to hire anyone, and this can be damaging in itself.
Sometimes, you simply need more bodies next to you to help you through a tough period, like going through your finances for the end of the tax year, or helping you design your website to make yourself truly accessible and integrated with the modern age.
Contractual workers will all have a list of requirements to be hired, especially if they work through an agency, so be sure to pour through any obligations you have with a close eye.
If you are looking for content generation, you may be able to find freelancers online scouring the internet for the job you are currently offering.
Give them a fair payment package and contractual terms, clearly explain that they are responsible for their own task, and you have on your hands one of the most convenient employment relationships for both your firm and the subcontractor at the same time.
Not everyone is adept at keeping budgets and balancing financial commitments such as where to invest, where to hire, and where to save for the taxman.
It’s important to get this right however, because capital resource management is by far the most terrible thing to get wrong in a business.
It’s likely that you’re working double roles this entire time, so adding another in the form of accountancy, which is also a full-time job, can lead to costly mistakes you really shouldn’t be making.
Hire an accountant, even if only a few times a year to go through your tax contributions and keep things in order. You’ll be surprised at the peace of mind this provides.
These tips can help you make running your startup much less difficult than it has to be.
If you can’t communicate well with other businesses reliably using your business to business connections, you may need to address the communication infrastructure of the space you use as an office.
While many online solutions exist to help you communicate with a plethora of contacts, online instant messaging voice calls and video chat can seem an unprofessional way to conduct business.
Most larger businesses will expect you to call a direct number, and not call them on their Google Hangouts profile. Luckily, there exists a meeting of these two worlds in the form of your business phone systems, namely a VoIP installation.
Voice Over Internet Protocol telephones allow you to save money on analog calling costs by making the telephone call through the Internet.
Luckily, they can also be used as a regular phone if needed, so you needn’t go without or waste time messing between systems.
Even more conveniently, these telephone systems are available to continue using your previous landline number, meaning that you don’t have to migrate to new numbers and the confusion that usually provides.
Good luck in business. Enjoy riding the wave as a new company!
This article was written by an outside contributor.
Why The Medical Field Is Always An Attractive Career
A lot of people choose careers based on their skill level, a lot choose a job because of the money involved, and a lot of people combine these two factors and don’t settle for anything less.
However, there’s the idea of having a career solely based on the opportunity to help people. That’s what makes the healthcare world so popular to go into and so demanding as a result.
Yet there’s a few factors that make the medical field arguably the most attractive career, and it isn’t just helping people. So what makes people flock to practice medicine?
We’re about to find out below.
Plenty of different positions
The amount of diverse careers means there’s something for literally everyone to fit into.
Medicine has a lot of nooks and crannies to work your way into once you graduate from school, and you won’t get this amount of variety anywhere else.
You can be in front or behind the camera so to speak, with research departments and hospital floors at either end of this spectrum.
There’s so much variety, making it one of the biggest job sectors in the world.
For example, you can always find out more about this by reading Why Earn A Masters Degree In Nursing Administration. It’s also another facet of the healthcare world that people can get to grips with that isn’t having to perform surgery yourself.
Constantly get to work with people
Human beings are social creatures, and as a result want to be surrounded by other people most of the time.
Doctors, nurses, receptions, janitors and all their like are taught long-term life skills, such as patience and compassion, and how to get a lot of tasks done in a time limit because of it. If you’re an understanding person, medicine is a great career path to move into, as you’ll be able to fully exercise your skills.
Performing medical care for patients, or using your skills to discover new treatments and save lives is the greatest reward in itself.
A person in a medicine career can learn these people skills either from a course at school or on the job if they think they don’t need any training.
Even if you’re naturally empathetic, this skill will be pushed to its limit. Healing with your own two hands in this way is an incredible feat to conquer, and you’ll be gratified about it every time.
Prestige comes with the territory
There’s no denying that the medical field is rife with award and recognition.
Even though you aren’t in the most high paying position in the world, a lot more comes along with a wage packet. Of course there’s a lot of money to be made, but that’s just one slice of the medical pie.
Global work is available for someone who works in the healthcare sector, and third world countries have plenty of volunteering opportunities for undergraduates and people just looking to help out.
With thousands of patients per the one doctor for miles around, there’s a lot to be gained from working at this pace. Responsibility skills, better communication that isn’t just spoken or written, and plenty of patience.
Patience is the main factor in deciding whether you’re up to a task or not when it comes down to it.
Option to work as a team or lead yourself
You’ll be surrounded by other professionals, and have a lot of say in what they do. Similarly, you’ll always be relying on one another.
Getting used to the same people you’ll be sticking with for years to come, even when starting out at college, means you can perfect your teamwork skills.
Collaboration and communication is key to working well whenever you’re not alone, so a person’s skills would be honed to the max.
If a nurse or doctor eventually worked their way up enough to be used as a training tool, research students would look to them as a mentor. This makes this skill ten times more important, as it can be passed down through generations of doctors, and just by talking to each other.
Practicing medicine isn’t going away
If you choose to move into the medical field, you can guarantee a lot of stable work for a long time to come.
People will always need you, hospitals will always need you, governments will always need you.
So it truly pays to become a pharmacist, nurse, doctor, or administrator.
There’s a lot of specialist areas to move into that lack the most workers in some parts of the world, like obstetrics and ppediatricians. This is just another example of how the medical field can help in the best way.
Yet that can also seem like a downside to some. The constant demand means long hours, irregular schedules in which you could be woken up in the middle of the night, and ages on your feet at a time.
It takes a lot of stamina to be able to keep up such a career. But that doesn’t mean it isn’t worth it of course. A lot of medical practitioners take a pay cut as a result to stay healthy in the long term.
Learn latin as a language
A lot of medical terms come from their original latin root, and thus by studying medical research and literature, the ancient language can be learned in a simple form.
A lot of people have an attraction to this specifically, despite its small nature, because of the mysticism and history behind what is now considered a ‘dead’ language.
Otherwise, a lot of what can be studied is written in English, which is the 3rd most spoken language around the world. This can mean it’s pretty accessible to learn, especially in the Western world.
Gain authority and social power
Wearing a white lab coat symbolizes a sense of power. It also means people look to you in crises and trust what you have to say.
Plenty of psychological studies have found proof to back this up, so it isn’t just a social conscience idea.
Doctors and nurses are some of the most respected people in a society, and are rightly recognized as such with their daily acts of heroism.
Pharmacists and biologists do seem less likely to receive the same admiration due to a lot of media bias, but it’s these people who are working the hardest.
Taking pride in an appearance as a doctor or nurse is the key to establishing good practice and excellent rapport with patients. You’re still human even with the coat on after all.
Debate over healthcare rights
Finally, how much medical care should be provided and the discussion over universal free healthcare is one of the biggest issues within the medical community.
It’s interesting to see how much of a debate there is over this, and as a result people move into the health sector career path from a young age.
This is due to the fact that there’s a lot of controversy over this idea of health care, which brings it to the forefront of society.
So there’s a lot to be said for the attraction of working in the medical field. People love to help, they improve upon their innate skills, they’re respected, and there’s always going to be a love/hate relationship between the public and the healthcare sector.
Why do you think so many people see the medical field as an attractive career to pursue?
How Smart Business Owners Protect Their Business
A business can be well on its way to success, until a freak accident ruins the entire operation. Here’s how to protect your business and avoid that mess.
In some instances, that accident happens because the individual doesn’t know how to protect their company.
There are so many threats these days that everyone should take the time to read this post and consider the advice to protect their business.
With a bit of luck, those who do that will stand a much better chance of realizing their ambitions and making a fortune.
The tips below are written in the most straightforward manner possible to ensure all readers grasp the strategy. All entrepreneurs should put these ideas into action if they want to succeed.
Apply for patents and trademarks
Anyone who comes up with original product ideas will need to contact legal experts who can apply for patents and trademarks.
The last thing anyone wants is for a large company to get wind of the innovation and replicate the item for a fraction of the cost. That could push the inventor out of the market before they’ve even managed to build a prototype.
The issue is that there is nothing the individual can do about that if they don’t have registered patents in place. In most situations, it takes around twelve months to get approval from the patent authority.
However, it can sometimes take much longer if the entrepreneur wants international protection. Thankfully, the concept is secure from the moment the application gets filed. A patent will:
- Prevent others from copying and selling the products
- Enable entrepreneurs to licence the design for money
Invest in antivirus and malware tools
Most entrepreneurs will create a website to showcase and market their products or services. That means they have to use computers all the time, and so they need to take some security measures.
There are hundreds of thousands of different viruses and malicious programs that could infect a network and cause many costly problems.
For that reason, it makes sense for individuals to invest in the best computer security they can afford. Don’t make the mistake of downloading free software off the internet because it will never perform as expected.
Business owners will require a professional suite designed for the corporate marketplace for the best results. Some of the best business antivirus programs include:
- Avast Endpoint Protection Advanced
- Symantec Endpoint Protection
- Bitdefender GravityZone Business Security
- Avira Antivirus for Endpoint
There are plenty of alternatives too, and so entrepreneurs just need to conduct some research and read reviews by other commercial users to sort the wheat from the chaff.
Keep a close eye on your smartphone
The average person seems to believe their smartphone is immune to viruses and malware.
That couldn’t be further from the truth.
It’s just that individuals don’t always notice when an infection takes place.
That is a major issue because it’s possible for criminals to steal information and even gain access to the office WiFi network in some instances.
Smartphone data security has become a hot topic in recent times, with many brands spending a fortune to get the best protection available. In most situations, it makes sense to get in touch with a reputable IT support company and ask them to perform a security assessment.
If there are any problems with smartphones or other devices, the professionals should highlight them and offer advice.
Purchase the right insurance packages
No entrepreneur should attempt to navigate the business world without the correct insurance. There are hundreds of different providers that all offer different deals and policies.
So, the process of identifying the most suitable brand could take a while. And it doesn’t make sense to opt for the first specialist that provides a quote. There is always room for negotiation when it comes to services of that nature.
Individuals should use the figures they receive from one team to drive down the asking price of another. Depending on the nature of the venture, most business owners will need to buy:
- Professional indemnity insurance
- Property insurance
- Worker’s compensation insurance
- Home-based business insurance
- Product liability insurance
- Vehicle insurance
- Business interruption insurance
People who don’t have the right policies in place could see their ambitions crumble before their eyes.
If anyone tries to take the company to court and they don’t have the backing of an insurer, the costs could bankrupt the operation.
Store all important files in the cloud
One of the best ways to keep vital documents and records safe involves storing them online using cloud services.
There are various providers out there at the moment, but entrepreneurs will benefit from choosing a brand they recognize.
For example, firms like Google have a lot to lose if hackers managed to penetrate their systems. That is why they use some of the most advanced security measures known to humankind.
All new business owners should select a cloud provider with an excellent track record, and then upload everything they need to keep safe.
There are many benefits to using cloud storage, but the most important one is that the chances of becoming a victim of hacking will decrease. Other advantages include:
- Accessing the files from anywhere in the world
- Making cooperation easier
- No need to email large documents
- Drag and drop capabilities
Develop a disaster recovery plan
Nobody knows when a disaster might strike and cause a storm of problems for their operation.
Perhaps the weather takes a turn for the worse, and the office becomes flooded? Maybe a world-class hacker manages to take control of the entire system and use it to commit a crime?
When something like that occurs, entrepreneurs will have to work around the clock to find a remedy and get the business back on track.
Planning for those eventualities in advance is always a sensible move, and that’s why many IT support specialists offer that service.
Creating backups of central databases and files is a fantastic first step. All disaster recovery plans should contain:
- Information on the roles and responsibilities of each employee
- An in-depth guide to security processes
- Contact details for IT support professionals
- Incident response rules
- Disaster recovery procedures
Don’t put all the eggs in one basket
If entrepreneurs take nothing else away from this article, they should remember that putting all the eggs in one basket is a recipe for disaster.
That applies to almost everything the individual might have to do when turning their idea into a profitable business. With that in mind, remember these tips moving forward:
- Select more than one IT support partner
- Store copies of files on external hard drives as well as in the cloud
- Keep money aside from the budget for unexpected problems
- Find a couple of different legal representatives
- Constantly research new antivirus programs and software
- Try to come up with more than one original product idea
- Avoid using single marketing methods
Potential High Reward Investments For The Budding Entrepreneur
Running a business can be hard and difficult. This is so self-evident as a phrase that it might be considered the fundamental dictum of opening a firm.
For the budding entrepreneur willing to take the risk, this challenge is what makes it all worthwhile. However, at the same time, some people feel that there must be better ways around investing their money without risking it all on a startup.
If you have money to spend either personally or through a firm that you have already been a part of, and are looking to invest that money wisely, you may not know where to turn.
Financial risk is a large part of the decision making process you will have, and making unwise choices will put you in a difficult position which you’d do well to avoid.
Luckily, there are so many ‘rising star’ industries available to nest your money into nowadays that you may feel like a child in a candy shop just waiting to begin.
Here are some of the best, most innovative and most stable places you’d be wise to invest your money as a firm or personal financier.
We must top the list with property, as it is always the most reliable place to invest money. People will always need shelter, and people will always want better shelter. As a result, foreign investment in properties and property development is at an all time high.
Catering to the luxury holiday crowd abroad could be one of the most lucrative investments to make, as popular locations are always bringing in visitors and their money year-round, and the demand will remain constant.
Investing in penthouse properties abroad will give you the luxurious room for renting, subletting or even renovating and selling foreign accommodation.
In foreign countries, the price of admission will be much more competitive than pursuing the same endeavour in the area you are domestically.
This means it can serve as a wonderful first investment on the property ladder, giving you a solid range of experience as to how best operate in those circumstances if you do decide to continue and expand in the future.
3D Printing has become a force to be reckoned with in recent years. Provided the ingredients for construction are there, developing any product is looking more and more reasonable.
And it seems every month there is a new innovative revolution in 3D Printing.
For some industries, such as home furnishings, it offers to completely revolutionize the way their manufacturing process works. It also provides the potential ability to completely rewrite factory product lines.
Getting in early and investing in the most promising 3D printing firm is likely to reward you big in future, as well as giving you a head start on arguably one of the most exciting technologies to rear its head in recent years.
Virtual reality is one of the most interesting new developments in the technological and gaming markets.
The Oculus Rift and HTC Vive are both competing for the top spot in the VR world, but even Sony are expanding in the industry well with their very own PlaystationVR.
However, it’s not only the big boys that you should be interested in. A huge amount of small indie development teams are bringing VR experiences to the mainstream, with software packages that aren’t solely dedicated to people who enjoy video games.
Art gallery replicants, social spaces and even painting utilities all exist to make Virtual Reality a real contender which will likely revolutionize the way we all interact with our home entertainment systems, and even computing communications for years to come.
Getting in now to support the most promising software studios will help you surely ride the most exciting crest of the innovative wave here.
It is clearer than ever in recent years that many pharmaceutical drugs are leading to an addiction epidemic, particularly among the opiate painkillers prescribed universally after surgeries or any form of injury repair.
This has gained a large amount of controversy, and is the largest challenge to the pharmaceutical industry right now. The market is crying out for alternate means of pain removal.
Some states which have legalised marijuana are benefiting hugely from purpose bred concoctions which are less to help people get ‘high,’ and more to help people overcome the most insidious addictions they feel. These include products such as CBD oil or vapour rubs.
Other new and less researched substances such as Kratom are getting widespread popularity, to the point where medical research is being officially sanctioned and is starting to look promising.
If looking to invest in the healthcare industry, these could be the most promising places to start, as they potentially offer millions in untapped revenue.
You probably expected to see this on this list, and for good reason. Renewable energy is set to become one of the most exciting ways in which investing in positive world change can be beneficial to your wallet.
The renewable energy workforce is already larger than those working in methods of fossil fuel acquisition, and this is only set to increase.
Harvesting energy from the wind and solar farms is becoming more and more viable, and now even full nations are finding themselves more able to run off of pure, clean energy alone.
Luckily, the energy market does not need to be limited to simply one subset of that industry. It can crop up in many places, such as Tesla’s automotive interests in making solar powered, driverless cars.
Finding the most important and hottest avenues to invest regarding solar energy is easier than ever, and this is where some of the most exciting methods of innovation lie.
Artificial intelligence is something that people often shudder when they think of, but it’s becoming less of a sci-fi fantasy and more of a practical, daily reality the further we move into it.
It’s likely your smartphone has a rudimentary voice chat option such as Siri, or Amazon’s Alexa in the new devices they sell, which learn your vocal, usage and purchasing habits and help tailor the experience you get based on those parameters.
As AI gets more refined, and it is becoming more refined, you should expect to see this cropping up in even the most unexpected of areas in the future.
The days aren’t far off from where smart homes speak to you as they used to in the movies.
AI is going to revolutionize the way we think, act and behave around the products we use on a daily basis, and as a result investing in the right avenues may net you untold fortunes.
For those interested in investing in media platforms, look no further than YouTube Live, Mixer or Twitch.
These used to be more encouraging to those who play video games, but the audience has exploded in recent months and now massive creative communities have spawned.
If you’re looking for solid marketing investment, sponsoring those with large followings and social media gatherings can be the perfect way to invest in what could be considered an outsourced brand, bringing your operation to the eyes of many who are entertained and willing to listen to the endorsements of their favorite content creators.
The rise of influencers is real.
You may be able to craft a good supporting relationship which is much more likely to gain you the favor of their fans and potentially secure purchases or direct affiliate traffic where you deem fit.
This is a burgeoning and new industry which is just waiting to be taken advantage of.
These tips can help you experience a boom in your investment opportunity. Good luck!