5 Important Practical Things To do For Small Businesses this Covid-19 Era

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August 21, 2020

Covid-19 is changing the way we do a lot of things in the world we live in today. And this may be the appropriate time to do make some necessary adjustments to strengthen service delivery, operations and other key aspects that are critical to the growth and stability of your business or organization. Digital transformation is something we need to adjust as soon as possible. The fastest way down for any business or organization is to lack accurate knowledge or data on structural adjustment, policies and customer information which often translates to poor planning, decision making or strategy execution when planning or forecasting for the business and its future.

Below are 5 Important Things You May Want to Pay More Attention To in Your Business:

Build Social Presence

The use of digital platforms have been on the rise during this period. Businesses are trying to gain market share and are competing for audience attention. As a small business, you cannot be everywhere because you most likely do not have the resources, so what is advisable is to “go deep and go wide.” Find out what digital platform(s) your audience congregate and create high engaging content and begin to build human interaction.

It’s time to really make use of digital platforms such as Facebook, Instagram, Whatsapp for Business, Twitter, Medium, LinkedIn, e.t.c because of the large number of users on these platforms.

Encourage Capacity Development

The success of any business lies with its people. As a entrepreneur, it cannot be over-emphasized the importance of capacity development for you and your employees. Given the current reality where non-essentials have been forced to work from home or take unpaid leave, businesses are to encourage employees to take advantage of this ‘opportunity’ to develop themselves and build in-demand skills. As a CEO or a manager, you want the best people on your team especially coming out of this pandemic. You want people who can hit the ground with ideas to keep the business running.

Revamp Branding Materials

The brand materials of any business tells so much about the business itself. During this ovid-19 era, businesses now have some more time to work on their branding so that it reflects the image they want the brand to have. These branding materials include brand logo, message fonts, colours, design layouts, tagline, color palette, and all the marketing and promotional materials, letterheads, signage, etc. These, as we know amongst other things, will aid in giving your company an appeal in a very attractive way. With adequate feedback through communication with customers and your team, you can come up with something that will keep your target audience glued to your brand.

Develop Thought Leadership

Thought leadership is a type of content marketing. It positions you as an expert leader in your field. People look to you for information and ideas because you are able to lead their thoughts. It makes life easy for you as a business owner when you are perceived as a thought leader in your industry. Platforms others pay to get on, you are invited to. For SMEs, especially service-based SMEs, thought leadership is infinitely cheaper than expending resources on core marketing.

Some of the things to settle in your mind before starting out include, what platform is suitable for your subject, following relevant people, and contributing to their conversation. For example, you can launch a webinar, live session on Social Media (Instagram, Facebook, or Youtube) or record video content, and share on your platform. These are also called digital products. If you can establish yourself as an expert in your industry, potential clients and customers will inherently trust you more and are likely to respond to you more warmly.

Update Database Processes

It is popular knowledge that information is very key for any business to survive. This pandemic provides a good opportunity for a lot of businesses to do some re-evaluation; ask questions about how to improve efficiency after this blows away. One way to achieve that is by improving processes and updating database. This means that customers and employees must be up-to-date on the business plans and direction as it changes to meet market demands and different realities. This can be achieved by writing down all the information that your employees need to be aware of somewhere and properly shared across the board so that everyone is aligned. Another beautiful way is by regularly uploading information databases onto any cloud systems of your choice like Google Drive, Dropbox, Salesforce, A.W.S etc. The pandemic has forced many businesses to go digital and having as much of your information saved online is very vital so that anyone who needs it can have access at their convenience.

What You Need To Know About Brokerage Account & How They Work…

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obbuuz

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August 20, 2020

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A brokerage account is similar to a savings account, but for investing. A regular bank might offer an account with a high annual percentage yield (APY) that earns interest on the money you deposit, allowing you to stretch those dollars a little further. A brokerage account, on the other hand, opens the door to a wide range of investment opportunities, such as stocks, bonds, and mutual funds that can make your money work much harder over time.

There are many types of brokerage accounts, and each works a little differently depending on how it’s set up. Let’s start with a simplified brokerage account definition: a means for investors to participate in the stock market. The broker holds your account and acts as an intermediary between you and your investment purchases.

There is the Cash Broker Account where investors deposit cash that’s used to pay for the shares or securities purchased. They don’t require a lot of money to open—many brokerage firms will allow you to create one with no initial deposit required. However, before you can buy any investments, you’ll first need to add funds to the account for purchasing power.

A margin account lets investors borrow money from the brokerage firm to buy shares and securities, with the assets in the portfolio serving as collateral on the loan. Buying investments on margin can dramatically increase your purchasing power, but it can involve a high level of risk.

Below are some of the most popular investments you can purchase on your own or through a broker with your brokerage account:

Bonds

These lower-risk investment vehicles are more stable than stocks but usually offer a lower yield over time.

Real Estate Investment Trusts (REITs)

You can also open a brokerage account to purchase REITs, or pools of real estate-related assets.

Preferred stocks

Shareholders of preferred stocks typically receive higher dividend payments than common stocks but are more sensitive to changes in interest rates.

Common stocks

These are very common and represent shares of ownership in a business organization. You can earn money off them by collecting dividend payments or by selling the stock in your brokerage account when the price is higher than what you paid for it.

Mutual funds

A mutual fund refers to a pool of money collected by investors who mutually purchase stocks, bonds, and various assets.

If you’re wondering how brokerage accounts works best, it is important to know that all investments involve some level of risk. There is no singular “right” answer regarding which type of brokerage account you should open to start building your own investment portfolio; it all depends on your experience and knowledge of trading on the stock market, how much risk you’re willing to take on, and what your budget can afford.

Just endeavor to always do your research and be sure to avoid investment errors common to new-comers on the market.

Hot Tips on How You can start Investing on Your Own

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obbuuz

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August 20, 2020

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First of all, know this, you don’t need a finance or business degree to invest successfully. All you need is patience, a little extra money and a basic understanding of where to put that money.

Many people avoid investing because it seems overwhelming and complicated, especially if they’re scared of losing money -and it’s true that investing comes with an inherent risk. But that risk is essential to building a strong portfolio. Obviously there are no guarantees, but more risk gives you have the potential to earn more return. When you leverage investing principles such as diversification and rebalancing it minimizes the overall risk of any portfolio.

When you put money in a bank’s savings account, it is insured by the federal government. You can’t lose anything because the funds are guaranteed, but you also won’t be able to earn more than 1-2% interest a year.

You can either invest for the short-term or the long-term, and that choice will affect what kind of investment account to open and what securities to buy. Usually it is wise to only invest your money for long term goals, i.e. anything 5 years or longer.

Here are two basic account types you may consider to open, brokerage accounts and retirement accounts. A brokerage account lets you access the money at any time while retirement accounts only allow you to withdrawal after age 59 1/2 without any penalties. A brokerage account has no rules on when you can withdraw funds. If you invest $100 in a brokerage account and you need to withdraw it next month, you can do that. You may have to pay taxes on any earnings, but there will be no extra withdrawal fee. But for a retirement account like an Individual Retirement Account (IRA) may be a good option if you want to save money for the long haul. These accounts have special tax benefits to reward saving for a long period of time.

Additionally, you can as well set up short-term investments in verified businesses that takes care of some of your expenses and commitments alongside the long-term investments like the IRA, Real Estates, Gold, Shares, Stocks e.t.c.

However, It is wise to always conduct your own due diligence about any investment opportunity of your choice and also seek for professional advice where needed from financial advisors or from seasoned investors with proven results before committing your money.

SLINGSHOT 2020, powered by Startup SG, is now open for applications with over US$575,000 in prizes to be won!

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obbuuz

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August 19, 2020

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As one of Asia’s largest startup challenges and in its 4th edition, startups from all around the world are invited to join the challenge and submit their most innovative business or tech-related solution!

This year’s competition is centered around these 5 sectors:

Manufacturing, Logistics & Transportation;
Urban Solutions & Sustainability & Energy;
Health-Tech, MedTech & BioTech;
FoodTech & AgriTech; and
Digital solutions, Consumer Products & Services
Submit your startup deck today to compete for over US$575,000 worth of attractive prizes, including:

Startup SG Grants
Grand Prize: ~US$175,000
Top Two Winners each sector: ~US$35,000
‘Creating the New Normal’ Award
SG Grant: ~US$35,000 Grant
Cash Prize: ~US$7,000
The Top 100 Global Startups will have the chance to pitch on stage at the Grand Online Final Event of SLINGSHOT 2020 during SFF x SWITCH
Engage with Asia’s dynamic tech ecosystem and gain additional funding from investors, partners and more!

APPLICATION DEADLINE: AUGUST 24TH, 2020
Visit: https://slingshot.agorize.com/en

GLOBAL GIVING ACCELERATOR PROGRAM, ACCELERATOR FOR NON-PROFIT ($30,000+) FUNDING

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obbuuz

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August 19, 2020

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The GlobalGiving Accelerator is a virtual training program and crowdfunding campaign that will help you take your fundraising to the next level. Following an optional one-week training curriculum, you’ll be entered into an Accelerator campaign where you’ll raise at least $5,000 total from a minimum of 40 different donors in order to graduate and secure a permanent fundraising spot on the GlobalGiving platform.
The GlobalGiving Accelerator is an opportunity for you and your organization to build skills, access tools, and grow your base of supporters to achieve crowdfunding success. When you graduate, your organization becomes a permanent member of GlobalGiving, and you’ll have access to all the tools, training, and one-on-one support available in the GlobalGiving community.

Any registered nonprofit (anywhere in the world!) is eligible to apply. We’ll support you as you reach out to your own networks, and tell your story in new and compelling ways. Donors can give in USD, GBP, EUR, CAD, and AUD, helping you reach your supporters in the US, the UK, and beyond. We’ll also provide matching incentives for your donors, and bonus prizes for the most successful participants.

APPLICATION DEADLINE: OCTOBER 16TH, 2020.
Visit: https://www.globalgiving.org/

Hong Kong’s food e-commerce startup DayDayCook raises $20 million

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obbuuz

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August 19, 2020

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The food blogging community in China is booming, and many creators have been cashing in big time by touting food products to loyal followers, a business model that has lured investors.

The Hong Kong-based startup DayDayCook announced that it has raised $20 million to expand its multifunctional food platform, whose users mainly come from mainland China. The company founded by banker-turned food blogger and entrepreneur Norma Chu offers a bit of everything: an app featuring recipes and food videos, cooking classes in upscale malls, and a product line of its own branded food products sold online, which makes up 80% of its revenues.

London-based Talis Capital led the funding round, with participation from Hong Kong’s Ironfire Ventures. The eight-year-old startup has raised a total of $65 million to date from investors including Alibaba Entrepreneurs Fund, the e-commerce giant’s not-for-profit effort to support young entrepreneurs in Hong Kong and Taiwan.

The selling point of DayDayCook products is their carefully crafted brand stories. Users first consume the content put out by the startup across social channels, and then they become customers of DayDayCook’s ready-to-eat or to-cook food packs, kitchenware, and more.

“We really believe in the content-to-commerce model,” said Matus Maar, managing partner at Talis Capital.

He went on to explain that as content creation becomes easier thanks to an abundance of mobile editing tools, “even one person in rural China can make amazing content that creates a huge following.” He was referring to China’s reclusive influencer Li Ziqi who rose to stardom by posting videos on Youtube and domestic sites about her rural self-sufficiency.

“That goes hand in hand with people not wanting to see content that is super polished or comes out of mega agencies. People on the internet want to see authenticity. They want to see people doing real things,” suggested the investor.

While there is a legion of food influencers out there, not all are equipped to build a money-making venture. Matus believes DayDayCook has all the pieces in place: suppliers, distribution, logistics, and shipment. By developing its private label products, the startup is also able to sell at higher margins.

Chu said her company has amassed 2.3 million registered users on its own app. Its paid users, ordering through e-commerce channels like JD.com and Alibaba’s Tmall, grew 12 times year-over-year to 2.2 million.

DayDayCook’s content has a wider reach, garnering 60 million followers across microblogging platform Weibo, TikTok’s Chinese edition Douyin, Tencent’s video site, and more. That may not seem like a lot in the influencer era — Li Ziqi herself has nearly 12 million subscribers just on YouTube.