Thomas Scott Edwards is a highly experienced litigator with more than seven years of experience working as a Trial Attorney. He has worked in real estate as a developer at the Edwards Development Group.
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Top Tips for the Business Entrepreneur
Entrepreneurship has the potential to be incredibly rewarding, but you’re going to have to work hard to achieve success. You can have a better time achieving your goals if you keep certain business tips in mind, though. Read about the best business tips for entrepreneurs below so that you can keep your business moving in the right direction.
Always Listen to Your Customers
Your customers are the most important thing when it comes to keeping your business alive. When your customers have a problem with something, it’s going to be in your best interest to listen to them. Take customer feedback very seriously and be sure to do your best to keep customers happy. You want them to stay loyal to your company and you need to work to earn their business.
Get Help When Necessary
Don’t be stubborn and assume that you are capable of handling everything by yourself. There will be times when tasks will be outside of your range of expertise. Sometimes, it’s best to delegate tasks to employees to keep things moving along smoothly and you might also have to hire professionals for certain tasks. Learn to recognize your limits.
Take Care of Cash Flow Issues
Cash flow is extremely important to your business and you can’t afford to encounter problems. If you have issues with customers not paying on time, then that could harm your cash flow. It’s best to send out invoices automatically and do everything in your power to prevent cash flow issues from popping up. Try to save some money for emergencies in case cash flow issues that are outside of your control occur.
Treat Employees Well
Treating your employees well is going to keep them around while ensuring that they will work hard for you. You don’t want to lose good employees because you’re stingy with pay raises and have a bad attitude. Treating employees with respect is something that you need to focus on and you also need to pay competitive wages. If you don’t do this, then you can’t expect to be able to keep up with the competition.
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How to Get Started in Real Estate Investing
Investing in real estate has a lot of potential and you might be considering how you can get into it. When you have no experience in real estate investment, it can be tough to figure out how to get started. Read on to learn how you should get started in real estate investing. It should help you to find your footing and you’ll have a few options to consider.
Consider Buying Real Estate Investment Trusts
Buying real estate investment funds is a simple way to get started with real estate investing. Basically, this is going to be a way to buy real estate without having to worry about a physical property. It works very much the same as mutual fund investing. You can be paid high dividends by investing in companies that own real estate and can use this as a source of regular income.
Try Online Real Estate Investment Platforms
Online real estate investment platforms will make everything much more accessible to you. You can use these platforms to get connected with real estate developers who want to finance projects. It allows you to invest funds and you can potentially see a huge payout if things go your way. You might need to have a good amount of money for this to be a possibility, though.
Rental Properties
Buying up houses for a low price and turning them into rental properties will be a solid idea. You can become a landlord and make money by renting your properties to families who are in need of homes. If you’re willing to put in some effort to be a good landlord, then you can turn this into a lucrative investment. You could see a huge return on your initial investment by renting out the home for several years.
Flipping Houses
Flipping houses will involve you buying houses at a low price and then fixing them up. Some homes might need to have significant repairs performed and others might just need a new coat of paint. You can make these improvements and then sell the homes for a tidy profit. Many people do this and there is a lot of money in projects such as this.
Renting Out a Room in Your Home
Renting out a room in your home is an option if you just need some extra cash. This is an entry-level form of real estate investment that sees you giving up a part of your own house to someone who needs a place to live. If you have a spacious home, then this could be a smart way to make some cash. You won’t likely make as much as you would be renting out houses but it could be a start to your real estate investment career.
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4 Business Skills You Can Master in Your Spare Time
When it comes to staying competitive in business, you have to constantly learn, grow, and adapt to be successful. Learning new skills and building upon those you already possess can take your business to new heights and even bring new and exciting products or services to your customers. It can be difficult to find the time to enroll in longer courses, but there are many free or low-cost classes you can take in your spare time or over the course of a weekend. Below are several skills that you can learn at your own pace and will help you build an improved business.
Data Analysis
Businesses need real-time data to grow with purpose. Data is useless unless you know how to gather, analyze, and interpret it. Taking courses to improve skills with Microsoft Excel, Python, and other data tools will help you make more informed decisions about where your business is doing well and where it needs improvement.
Social Media Marketing
A strong social media presence can build your brand following, increase engagement, and help you tell your story all while driving traffic to your website or physical retail stores. It can be hard to choose which sites will work best for your business model and even harder to create authentic content that will connect with your customers. There are dozens of free courses available that will teach you how to use each site and how to maximize your marketing on each platform so you will stand out instead of getting lost in the noise of a busy feed.
Project Management
Efficiency is an absolute necessity when it comes to running a business. You need to know how to juggle multiple tasks and lead teams at the same time while also consulting with clients or contractors. Project management tools such as Scrum, Agile, and PMP can help you streamline your tasks and keep projects under control and under budget. These courses are affordable and help you become a more proficient leader.
Search Engine Optimization
You can’t drive organic sales to your site if it isn’t optimized on search engines. Google is by far the most-used advertising platform which provides a wealth of opportunities for businesses. It’s one thing to use Google for advertising and it’s quite another to have a fully optimized website that will allow you to be found and grow your traffic. Google offers courses as do other learning platforms to help you navigate the site more efficiently and to create a more searchable business.
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3 Easy Ways to Find Great Real Estate Deals
Real estate can be exceedingly expensive, especially during a seller’s market. Even when prices are high in desirable areas, you don’t have to compromise; you just have to know where to look. Whether you want to buy a home for your family or invest in a rental property, you can always find a great deal. Use the leads below to help guide you through the process of finding the best deal to suit your property needs.
Foreclosed Properties
When a home or other property is repossessed by a lender, they will typically list the property for sale on the market. These prices are usually some of the least expensive homes on the market as banks are in the business of lending money, not managing properties. The foreclosure process can take years and the properties are more often than not in need of major repairs, so further discounts may be available to compensate buyers for the extra effort required to get the house in good condition.
Get Offers in Early
There’s a reason real estate agents tell their clients to put an offer in as quickly as possible. Oftentimes, it’s not the highest offer that gets accepted, but the first. To prevent missing out on a great deal, get pre-approved for a loan by your bank so you can put an offer in immediately on a property you love without having to wait for approval from the bank. Without the pre-approval, most sellers will discard your offer.
Approach Absentee Owners Privately
If a house isn’t on the market right now, that doesn’t mean it can’t be purchased. When market conditions are right, some homeowners will sell for the right offer, especially if they don’t use the property. Sometimes the best approach is contacting homeowners yourself instead of competing for a listing that already has a dozen offers. Absentee owners are your best bet as they own the property but don’t live in it. Look for vacant homes or contact landlords listing apartments for rent. You never know who may be willing to sell without trying.
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Real Estate Investing Tips for Beginners
When you invest in real estate, you are buying a property today with the goal of selling it for a profit. You need to factor in the cost of owning the property, taxes, improvements, and whatever else you put out in the process to determine the actual profit.
Ways to Make Money in Real Estate
The first tip is to learn the different ways to make money investing in real estate. You can earn money by purchasing a property and waiting for it to increase in value. Another option is to buy a property and earn income from rent. You should determine which type of investing works best for your specific goals.
In addition, people earn money by becoming realtors. Realtors make commissions when they bring clients to buy or sell a property. They do not need to put money up to invest; their expertise is in understanding the market and understanding the needs of their clients.
Finally, you can earn money through ancillary real estate investments such as owning vending machines in an office building or an apartment complex. This is a great opportunity because there is a built-in market that will purchase your goods.
Financing Your Investment
You may have the money saved up to buy your investment property, which is great. However, if you are similar to most people, you will need to finance your investment. One option is to take out a mortgage. You can use a traditional bank or find different types of mortgages through a mortgage broker. You need to understand the risks associated with borrowing money; for instance, if the investment fails, you could lose the property.
Create an LLC to Own Your Property
You should consult a legal professional to discuss the ways that you can purchase a property without having it in your own name. People often form a limited liability corporation or a limited partnership to purchase investment properties. This offers you protection if there is an accident or if something goes wrong. It will protect your personal finances from a potential lawsuit.
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How to Network for Your Business
One of the best ways to frame business relationships is as a means of exchange. As with any relationship, in order to get, you have to give. That means forging equal business partnerships with other parties, which in turn means networking with others.
Of course, knowing that networking is necessary for a thriving business is one thing. Actually being able to network with other businesses requires the ability to read and work relationships. These tips can help negotiating teams do just that, solidifying deals that are beneficial for both parties.
How to Ask for Favors and From Whom
All networking is, at its core, an exchange of favors. That means knowing who to ask and when. On the one hand, asking indiscriminately can give a company a reputation for neediness. On the other hand, never asking for help can come across as a case of pride coming before the fall.
Ultimately, it is best to ask others at a time that suits both parties and in such a way as to make the favor seem as if it is an investment. If the other party can be convinced that this favor is really an investment in their own future, one that will repay them many times over later on, they are more likely to give what the asking party needs to get.
Relationships First
That does not mean that favors should be the first thing on the networking parties’ minds. Before they get into the details of who wants what, it is vital to build first a personal and then a professional relationship. This is especially true when networking with companies in societies that emphasize pre-deal relationships. For example, Latin American business culture stresses the importance of building personal rapport before engaging in business deals.
Collaboration Is Key
Above all, successful networking requires collaboration. It is not advisable to try and network by “dominating” the boardroom. Rather, viewing contemporaries as collaborators can help convey the even footing of the parties, which in turn can improve rapport and make clearer what both sides want and need from one another. Common goals can forge networking alliances and collaboration can make all that more apparent.
Keeping these tips in mind can make collaboration easier and more profitable for all parties involved.
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Habits of Successful Real Estate Investors
There are characteristics that help to make someone successful in real estate investing, including intuition, organization, and tenacity. It is important to develop relationships with people who will be a part of your real estate investing journey. By developing habits that complement this type of venture, you will grow your ability to be successful.
Plan Your Strategy
When you invest in real estate, you need a business plan. What is your strategy and how will you accomplish your goals? You need a plan so that you will stay focused.
Learn As Much As You Can
Knowledge is the key to success. You need to learn everything you can about your market, the current trends, and real estate values. This will help you stay on top of your goals. In addition, you need to stay on top of the business side of real estate. Stay informed about current laws, taxes, and any changes that take place.
Be Realistic About the Risk Factors
All investments carry risks and real estate is no different. You need to be realistic about the risks and calculate where you stand. Determine what you can do to minimize your risk factors. Use your understanding of the risks to develop a sound business plan.
Develop Strong Business Relationships
You need other people in order to succeed in real estate investing. You should have a reliable accountant who understands the tax laws and knows how to make sure that your books are accurate and up to date. Lawyers can offer expert advice on the ever-evolving laws surrounding real estate. In addition, you should attend meetups and get to know other investors so that you can exchange ideas and information.
Specialize
Instead of dabbling in many different types of real estate investments, choose one area and specialize in it. You can master this area before branching out to another. Your success rate will be higher if you focus on one area.
Have Integrity
Your reputation can make or break your business. Be honest with people and encourage referrals. Have respect for other professionals in your field. By building a good reputation, you will grow your business.
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The Importance of Authentic Leadership
The world needs more authentic leaders who are willing to help guide others toward necessary goals. If you want to develop into an authentic leader, then you need to make sure that you’re approaching leadership roles with the right mindset. Leaders such as this are needed greatly in many areas of the business world. Keep reading to examine more about the importance of authentic leadership and how it can be achieved.
Bettering Yourself
Those who want to become authentic leaders need to focus on bettering themselves. As a leader, it’s important to understand that the quest for knowledge never ends. You keep learning and you keep trying to become a better leader each day. Even after many years of being in a leadership role, it’s still important to keep trying to grow so that you can effectively lead others.
Being Self-Aware
Authentic leaders are very self-aware and they understand how to best utilize their skills. You should be able to assess your strengths and weaknesses. You’ll be able to perform better by being able to honestly assess yourself and how you’re perceived by others. It can be useful when you’re trying to improve in various areas as well.
Discipline
Discipline is another area to focus on when you’re trying to develop into an authentic leader. Authentic leaders are very disciplined and they’re ready to put in the hard work each day. It isn’t always easy to be a leader but you have to be disciplined enough to continue to move forward even when facing tumultuous times. Your discipline ensures that you won’t crumble when facing tough situations and it also keeps you focused on important goals.
Being Goal-Driven
Being goal-driven is something that all authentic leaders have in common. You should have clear goals in mind and you should be able to take steps to achieve those goals. Having a sense of purpose will help to guide your decisions and this can also be passed down to the team that you’re leading.
Ability to Inspire Others
Finally, an authentic leader needs to be able to inspire others to do good work. You need to be able to lead by example so that your team will follow suit. They will be able to grow under your leadership if you’re willing to put in the effort. Your leadership can inspire when you have passion and dedication toward a cause or goal.
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How (and Why) to Mitigate Distractions While Working From Home
Eliminating distractions while working from home — especially with kids running around belting Frozen II and housemates doing mid-day workouts — might not be entirely feasible. However, it is still possible to mitigate distractions. After all, they’re hurting you — and your business — more than you might realize. You might have heard the popular statistic that you need an average of 25 minutes to get back to your original task after a distraction.
But there’s more affecting your productivity than that. We looked through some of the research behind the psychology of distractions and found some interesting insights:
Distractions have a demonstrably negative effect on our ability to perform, even when the distractions had little significance.
People who consider themselves at multi-tasking may be worse at moving from task to task than others.
Even if you attempt to “move on” to another work-related task, you may find yourself distracted by the first task of your day.
With that in mind, let’s dig deeper into the studies and find some better strategies for managing distractions:
1. Too Much Information Has a Detrimental Impact on Performance
In one UK study, researchers had volunteers carry out problem-solving tasks in a quiet environment—then tested them while they were “bombarded with new emails and phone calls.” Even though the volunteers didn’t have to respond to any of these messages, simply being aware that they were taking place had a significant impact on their ability to concentrate.
The result was that performance suffered. The average IQ dropped by about 10 points.
The conclusion is that not only are interruptions distracting, but if you allow distractions to weigh on your mind in even the slightest way, they can have a detrimental impact on performance. Given that volunteers didn’t have to respond to any email or phone call and still found them distracting, we can only imagine the impact distractions have on us when the emails and phone calls do need responses.
So try having an open dialogue with those you live with and creating a chart that hangs outside of your workspace where it will be seen that alerts housemates of your current work status. It may include options such as “available,” “busy,” “in a meeting” or “do not disturb unless facing a MAJOR emergency”.
2. Switching Between Tasks Takes Up More Energy Than You Think
A 2009 study at the University of Minnesota found the existence of what they dubbed “attention residue.” They defined it as the delay that occurs when someone sets aside one task and takes up another.
It turns out that the mental task of switching gears takes more energy and attention than we might have thought. And that led to some interesting conclusions, including the “surprising result that heavy media multitaskers performed worse on a test of task-switching ability.”
That’s right: even experienced multitaskers aren’t as good at switching between tasks as they might have thought. In fact, they may even be worse than the population at large.
This should lead most people to reconsider their approach to multitasking and asking the following questions:
Am I really a good multitasker, or do I just multitask often?
How long does it take me to “switch gears,” and do I often put off work because of the energy required to start a new task?
Where are some areas in which I might combine activities to minimize “switching gears” and improving my overall concentration?
These questions will help you identify some of the habits that may be leading you to lose concentration as you move from task to task. So whether you claim to be a good multitasker or not, try scheduling out your day in the early morning to help limit the amount of times you have to switch tasks and accommodate for the needs of those you live with.
3. The First Problem You Focus On Tends to Get Most of Your Brain Power
They call it “cognitive fixation.” If you like to multi-task, you may find that the first activity during your day is the one that retains most of your attention later on, even while you’re attempting to give 100% of your attention to something new.
This is evidence in favor of the strategy of attacking your most important tasks first. If you were to work on a big work project in the morning and only take on lighter menial tasks later in the day, part of your mind will continue to work on that “big” work project that you started off with. This can work to your benefit, so long as you’re aware of the effect and schedule your day accordingly.
4. Distractions are Disproportionately Affecting the Young
Millennials and Gen Zers—those most affected by the digital lifestyle—are also the groups that report the highest rates of distraction, with a rate of 74% identifying themselves as frequently distracted. This suggests something other studies have observed; the multi-tasking demands of the digital lifestyle have a detrimental effect on our ability to concentrate, which means that strategies for reducing social media usage may have long-term benefits for personal productivity and concentration.
One other reasons many of us may be suffering from distraction issues: using multiple devices at the same time can negatively affect self-control. So try to limit the number of devices you have within your reach while working from home. Allot yourself windows of time during the day — if needed — to check on certain devices.
5. Attention is a “Limited Resource”
Not only is our attention limited by the time we have in a day, but our energy is subject to the demands of being a living, breathing being. We simply don’t have as much energy to devote to willpower and attention as we’d like to have.
One study, as reported by Psychology Today, found that distractions eat into about 2 hours of our daily work lives. Given that our attention is a limited resource, the strategy of working on the most important task of the day as early as possible—while we still have the concentration to do it—may seem most effective.
One Reason to Use Distractions to Your Benefit
This post paints a very dire picture of the impact of distractions on our life. But if you can manage them effectively, you can sometimes use them to your benefit as well.
One study at Carnegie Mellon found that the regions of the brain that handle your decision-making process will still be in use even when you’re consciously focusing on something else. That means that sometimes, actively seeking distraction when you’re stuck on a problem can be a great way for you to relax, loosen up, and allow a solution to suddenly pop into your mind while you’re thinking about something else.
Otherwise, if you want to be productive while working from home, try to keep the distractions at a minimum (as much as possible), schedule out your day, and focus on your most important task of the day as soon as possible. Your calendar will thank you.
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How to Prepare to Sell a Real Estate Investment
When you invest in real estate, you should always have an exit strategy. No matter how many times the exit strategy changes, it is an important part of the process to ensure that the investment stays viable. Once you are ready to sell your property, there are steps you should take to make sure that it is prepared for the sale.
Make Sure That the Property Is in Marketable Condition
The curb appeal of your property is the key to getting potential buyers in to door to see it. You don’t need to invest a fortune in the appearance but you can take steps to clean up the landscaping and install strategically placed exterior lights. Make sure that you take care of any obvious flaws; you should touch up the paint, repair any damage to the flooring, and keep the property clutter-free.
Do Not Make Capital Expenditures
The benefits of capital expenditures such as roof replacements or major appliance purchases are more of a long-term benefit. You should not begin those kinds of projects once you have decided to sell your property. Only do the work that needs to be done to sell the property.
Make Sure That Paperwork Is in Order
Once you sell your property, it needs to be up to code with the appropriate certificates of compliance. Make sure that there are no outstanding contracts as any of these items can hold up a sale. If you aren’t up to code or have any violations, you will have to fix it before the sale can go through so it makes sense to take care of this before you start to sell.
Be Transparent with Employees
You should let any contractors or employees who do regular work for you know before you place the property on the market. It helps to maintain a good relationship. You can offer to recommend their services to the new owner. Maintaining a good relationship will ensure that they don’t interfere in the sale.
Make a Plan for Taxes
Make a plan with a professional who can advise you on taxes. There are ways to offset a tax penalty from your real estate sale and you need to know your options and make a plan ahead of time.
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How to Build an Efficient Workplace
Learning how to build the most efficient workplace involves examining how you’re approaching your leadership role. You can improve your business and how your team interacts with each other. This could lead to a better business that is more capable of meeting the needs of your customers. Read on to learn how to build an efficient workplace reliably.
Develop Your Leadership Style
You want to work on developing your leadership style so that you can guide the team down the right path. Some leaders try to micromanage employees too much and this winds up creating situations where employees never improve. If you can be a good leader who watches out for the team while trusting in them to do their best, then you’ll be much more efficient. Try to be an approachable leader who is ready to help and is always ready to communicate.
Learn About Your Team
Learn about your team so that you can use them effectively. Each team member is likely to have certain strengths and weaknesses. When you know the team well enough, it’s going to become easier to help them develop in their roles. Give your team tasks that are well suited to each individual and also take the time to help them grow to become more well-rounded employees.
Delegate Properly
Delegating properly can make the workplace substantially more efficient. You cannot handle every little thing that pops up and you need to count on your employees to share the workload. Understanding the skills that your team possesses will make it simpler to delegate tasks. Use your team wisely and you should be able to keep your company running as if it is a well-oiled machine.
Create Goals and Milestones
Creating goals and milestones will give everyone in the company things to work toward. These could be simple sales goals or they could be milestones relating to making progress on certain projects. It can be motivating for people to have real goals to strive toward. You’ll also be able to keep tabs on the progress without having to gaze over your employees’ shoulders every few minutes.
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SEM vs SEO vs PPC: What’s the Right Balance for Your Business?
SEM. SEO. PPC. What’s the best mix for your business?
The question is more complicated than it might first appear. After all, who wouldn’t want to optimize their SEM, SEO, and PPC efforts? But limited budgets, limited capabilities, and limited expertise can be obstacles—particularly if you’re stronger in one area than another. Let’s discuss what these phrases mean and how you can find the right mix for your own small business:
SEM vs. SEO vs. PPC: What’s the Difference?
If you’ve had enough acronyms thrown at you in your time in business to fill a bowl of alphabet soup, you can be forgiven if you sometimes miss the distinctions in these digital marketing terms. But let’s separate SEM, SEO, and PPC from each other and get really clear about what they are—and what you should expect from them.
SEM, or search engine marketing, is an umbrella term. It’s there for marketing efforts (both paid and organic) that are directed at boosting traffic from search engines. However, keep in mind that SEM, as an umbrella term, may sometimes be used to refer to PPC marketing in some contexts, which helps explain some of the confusion.
SEO, or search engine optimization, is a marketing strategy aimed at organic search. The concern here is how to improve your natural position in popular search engines without paying anything additional to said search engines. Yes, you can buy a position with PPC, but with SEO, you’re concerned about the quality of the links pointing to you, the quality of your content, and the relevance of your topics to the search queries that users are typing into Google. The goal is to create high-quality content that will continue to drive your SEO strategy in the future.
PPC, or pay per click advertising, is aimed exclusively at paid ads in search engines. In PPC advertising, you can bid on certain keywords to buy your traffic. But it’s not always as simple as that. PPC often requires that you build high-converting advertisements to ensure that the search engines aren’t just putting anyone with money at the top of the listings; they still want to serve their users.
What is SEO?
Let’s dive into greater detail on SEO. Search engine optimization is the art of designing your page and your content for targeted placement in organic search results—no paid advertising required. Although the search engine algorithms are highly sophisticated, SEO remains a top priority for many business owners; 61% of marketers list improving SEO and rankings as their top goal.
Today’s top search engines include Google, Bing, and Yahoo, with many of the content marketing and internet marketing campaigns aiming at Google and Bing. You’ll find that the majority of your SEO efforts will tend to focus on Google, thanks to its dominant place in the market.
The beauty of SEO is that any business can compete for organic listings; you just have to have the most relevant, valuable information available for any search query. Sound difficult? You don’t have to start creating the world’s greatest blog posts just yet. Search Engine Land has a guide for small businesses so you can begin optimizing your site as soon as possible. From on-page SEO to technical SEO, there are always small improvements you can make to give your site a leg up on the competition.
Here are some of the other terms you’ll want to be familiar with in SEO:
SERPs: Search engine results page.
Backlinks: The links pointing to your site, used by search engines to determine your page’s popularity and relevance.
Crawlers: Automated bots that search engines use to scan your site and log the latest information, which they can then use in their search results. Crawlers might dig through your meta descriptions, title tags, and on-site SEO to get a gauge of what your site is and what your business has to offer.
Technical SEO: search engine optimization focused on the technical aspects of your website, not necessarily popularity and relevance.
Link building: The practice of promoting your site to as many potential linking avenues as possible in an effort to drive up your relevance. These days, legitimate link building practices tend to be those that are mostly organic, such as guest posting on popular blogs.
What is PPC?
PPC has potential benefits for small businesses in that it offers an opportunity to buy your way to traffic if you have the budget. Small businesses that need growth now will find that PPC generates the quickest results when it comes to getting on the first page, while content and SEO tend to require focus on the long-term future.
To optimize your PPC, you’ll want to make keyword research a hallmark of the way you market. Tools like the SEM Rush PPC tool will help you identify those keywords that are most relevant to your business, all while driving a substantial amount of traffic. Google Adwords, the most popular PPC platform, also has plenty of tools for you to use as you research. But don’t forget that Bing also has keyword tools you can use to gauge interest in keywords.
With PPC, your goal is simple: combine relevance and traffic. Relevance is how well you can answer the “question behind the query.” In other words, relevance is how well your website answers what customers are really thinking. Someone typing in “vacations,” for example, may be looking to book a travel agency. But your travel agency business won’t do well by serving those who were only curious about vacation statistics.
With search ads, your goal should be to get as much relevance as possible, because you’re going to need to optimize your click-through rates.
When comparing SEO vs SEM and the strategies listed above, you’ll find PPC can produce the most immediate returns. After the proper keyword research, a PPC campaign can quickly give you access to a large amount of traffic that is highly targeted to your keyword and your business—that is, if you’ve put in the time to ensure that your business lines up with the search queries you’re looking for.
How to Strike a Balance Between PPC and SEO
There’s no single answer for whether search marketing, SEO or PPC is best for you right now. But if you start with competition research, you should notice opportunities for advancement—whether that comes in specific keywords, sponsored ads, brand awareness, or even simply building a better landing page. Look at your budget and understand where PPC and SEO most help businesses—and make your investments accordingly.
from The Grasshopper Blog - Insights for Entrepreneurs https://grasshopper.com/blog/Striking the Right Balance between SEM SEO and PPC/ via IFTTT
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Setting Goals for Real Estate Investment Success
Goals are the key to success in real estate investment. You need to know your goals so that you can set a plan in motion to achieve them. Without goals, you can get lost and lose focus. Using a goal-based strategy will lead to a successful outcome.
Outline Your Goals
Your goal is the key to your success. It’s a known fact that people are more focused and work harder when they know what they are trying to achieve. Don’t limit yourself. How much money do you want to make each month? Is your goal to make income or is it to build your overall wealth? You need to answer these questions so that your plan will come into focus.
People often make the mistake of underestimating what they really want. It is beneficial to set your goal higher than what you need and if you meet that goal, raise it again. Successful investors reach for the stars and they keep raising the bar to see how far they can go. Determine exactly what you want to get out of this journey with specific yet realistic goals.
Determine What Properties Will Help You Achieve Your Goals
Once you know your goals, you need to determine how to get there. There are many different options for real estate investing and the one that is best for you will be based on your specific goals. For example, if your goal is to generate monthly income, you will look at income-producing properties to get you there. If your goal is long-term growth of wealth, you might look at investments that you turn over for a profit.
There are many factors to consider in real estate investing from the type of properties to the number of properties to the specific details about properties including square footage, neighborhoods, and floor plans. You will have an easier time meeting your goals if you know how you plan to invest to make it happen.
Build Contacts
You need to meet and learn from as many people as possible to reach your goals. From investors to realtors to contractors, these people have valuable advice to offer based on their own successes, failures, and experiences. Build your contact list and learn as much as you can.
from Thomas Scott Edwards | Real Estate https://thomasscottedwards.com/setting-goals-for-real-estate-investment-success/ via IFTTT
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Customer Experience Strategies for Small Businesses
You need to make sure that you’re paying attention to the overall customer experience. Customer experience (CX) is often going to play the most important role in how your customers see your business. Having a solid CX strategy will put your business in a better position. Take a look at the following strategies that are worth considering.
Improving CX with Online Content
Online content can be used to improve your CX. Many customers look things up online before they decide to make purchases. If you have content on your website that will be useful to your customers, then you can improve the way that your customers view your business. Try to make your website more useful by providing customers with informative content that will also be very engaging.
Connect with Customers on an Emotional Level
Connecting with customers on an emotional level will be helpful as well. Personalizing your interactions with customers can help to give a human touch that will make things real. This is easier for small businesses to pull off than it is for larger companies. A personalized email or a special thank-you note to a customer can help to turn him or her into a loyal customer who will do business with you for a long time.
Use Analysis Tools
Using analysis tools will help you to learn more about what customers want. If you want to provide the best CX possible, then you need to use data to your advantage. You can tailor your experience online and in your physical storefronts to meet the needs of your customers. It can also be helpful to get direct feedback from customers via surveys or social media responses.
Let Customers Send You Ideas
Some small businesses have found success by involving customers in the CX process. Letting customers send you ideas for how you could improve or certain types of products that would be interesting could be a good idea. Customers who feel involved with your business will be substantially more engaged. Depending on what type of business you’re running, this idea will either be practical or impossible.
from Thomas Scott Edwards | Business https://thomasscottedwards.org/customer-experience-strategies-for-small-businesses/ via IFTTT
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How to Identify a Viable Investing Market
Most real estate investors want to make investments that will maximize their return and provide tax advantages without a lot of risk. One of the best ways to achieve this goal is by investing in income-generating properties.
Benefits of Properties That Generate Income
When you purchase a property that is already generating an income, you have a built-in safety net. You are spending money on the investment but you can start earning money right away. This makes it a much safer investment than those where you have to wait until the sale to see a return.
You can research the property to see how well it has done before you invest so you will know how stable the return is. This makes it a low-risk investment if you do your research.
In addition, these properties come with tax benefits that provide deductions for depreciation, repairs, and interest payments. You can also receive a deduction of 20 percent on income, thanks to the Tax Cuts and Jobs Act of 2017. With the built-in income, the low risk, and the tax benefits, these properties are great investments for many people.
Property Value and Property Class
No matter which property class you choose to invest in, the benefits remain the same. It is best to stay with the type of property that you have experience in whether that is commercial, single-family homes, or an apartment building. The risk factors vary between property classes but the benefits remain the same.
There are several ways to determine property value with this type of investment. One type is the fair market value, which is based on capitalizing the net operating income. This gives the investor control over what the property is worth because it can change by cutting expenses, making improvements, raising rent, or any number of other factors.
Location
Location is always a key factor in determining how well your income-producing property will do. A market that is experiencing growth will be a better investment than one that is stagnant or has falling prices. Always choose properties in a growth market.
from Thomas Scott Edwards | Real Estate https://thomasscottedwards.com/how-to-identify-a-viable-investing-market/ via IFTTT
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How to Get Started with Email Marketing
It is hardly a hot take or the toast of the marketing industry to suggest that email campaigns can be used to get the message out about your company. They have been used for that purpose for decades now. With the rise of social media, email campaigns have been overshadowed of late but they nevertheless remain a critical tool for keeping customers informed and engaged.
While they may be old techniques, these tips for increasing engagement via email campaigns remain as effective as ever.
Calls to Action
First and foremost, it is vital that most general emails and especially those sent out to highlight a specific target audience contain calls to action. While a conversational tone may be useful for establishing a rapport with a base, unless they are actually moved to do something, the emails will be in vain.
Calls to action should be clear and succinct, in the subject line or opening lines of the email, and compelling without coming across as too “demanding” or “pushy.”
Keep and Collect Data
Simply shooting out emails into the void is an inefficient way of running email campaigns. Rather, they should be targeted with generalized emails reaching a mass audience and more particularized messages being sent to those who have engaged before. The latter group’s track record may suggest that they are more likely to engage again or else may be interested in new products that are similar to ones they have previously purchased. In order to make such calculations, however, it is vital to keep and collect data on past engagement.
Change up the Messaging
Simply sending out the same old emails time and again is a fast way to get them deleted or labeled as spam and filtered out by recipients. Instead, it is vital that email messages remain fresh. Calls to action and the body of the text should be changed regularly. In addition, new images, products, services, and events should be regularly worked into the messages.
While they may be old, these classic tips for improving email engagement are as important and effective as ever.
from Thomas Scott Edwards | Business https://thomasscottedwards.org/how-to-get-started-with-email-marketing/ via IFTTT
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6 Tips to Help a Struggling Small Business Stay Afloat
It’s a fact that most new small businesses struggle. It’s part of the process. And though some don’t ultimately survive, those that can power through early problems can emerge strong (and profitable). Still, reaching that point is difficult, particularly in a rough business climate. However, there are certain steps you can take to keep you from feeling as though you're drowning and to help keep your business financially healthy.
Tip 1: Set Yourself Apart
In a recent look at common struggles of small businesses, we talked about the problem of having too many competitors. There, we suggested that business owners use competition to inspire innovation. More simply, use this problem as motivation to figure out how to set yourself apart. In the early stages, that might come down more to messaging than actual business products or services. But the sooner you make your company appear distinct among its competitors, the faster you’ll gain customers.
Tip 2: Address Your Debts
The idea of tackling debts before seeking more gains is actually an investment principle many adhere to — whether or not they’re running businesses. The idea is that debt is usually a compounding burden, with interest mounting over time, and should thus be addressed as efficiently as possible. This is particularly important for a small business in which time is of the essence. While it’s not always as simple as deciding to pay off debts, small business owners should start prioritizing debts. The sooner they’re addressed, the sooner the business can be free to grow.
Tip 3: Take Reinvestment Seriously
When you’re running a small business, it’s important to consider the idea of reinvestment. This is basically the idea that it can be beneficial to take some of the company’s profits and invest them directly back into company needs. Whether that means marketing efforts, a new employee, better technology, etc., it’s sometimes recommended that you reinvest half of what the company makes. It’s seen as a way of fostering fast growth, and it can also build the business up such that you have to do less on your own. In that sense, reinvestment can double as an investment in your own time as well.
Tip 4: Consider Personal Investment as Well
While there’s always some risk involved, you might also be able to expand your own funding by doing some light personal investing. However, you’ll want to do so carefully. If you’re looking to invest in the most traditional sense — in the stock market, for instance — it may be best to do so through alternative methods. Full-on trading is essentially a job, and it’s a lot for any small business owner to take on, particularly without the requisite expertise. However, there are other ways to grow funds in the market. If you still want some say over your portfolio, CFD trading is an option to explore. This is a method that allows the trading of shares purely with regard to whether they’ll increase or decrease in value. So, rather than buying a share of stock and timing your sale correctly to maximize profits, you merely make a decision of whether you want to buy it (anticipating gains) or sell it. CFD trading also enables stop-loss orders, which can allow careful investors to automatically limit their losses. If this is still a little too hands-on, there are also more automated or hands-off trading options such as mutual funds or apps that will trade on your behalf.
Tip 5: Cut Costs Where You Can
Usually, a struggling small business will already have cut costs wherever possible. However, it never hurts to do another thorough, numbers-based assessment of where you stand. Is there something you paid for in helping to launch the business that you no longer need? Are you using a supplier you might be able to move away from in favor of a cheaper alternative? Is there anything you have the time and ability to take on your own that you’re currently paying someone else to do? These are all questions worth asking when you’re struggling to make the business work.
Tip 6: Employ Freelancers Where Possible
This is not a suggestion that your small business should be staffed entirely by freelancers. You’ll need some employees to build a sustainable operation. However, where possible, you might want to look into freelance contributions. In-depth analyses have shown that freelancers cost less money, and these days — with so many people unemployed and/or looking to work remotely — they’re theoretically more available than ever. So, for the odd job here or there or for regular contributions that don’t necessarily demand full-time employment, you might want to explore the freelance market. There are ultimately no guarantees for a struggling small business. Each company’s strategy should be distinct, and a little bit of luck comes into the picture as well. With these tips though, you might hope to keep the business afloat — in a challenging climate or when future struggles arise. from The Grasshopper Blog - Insights for Entrepreneurs https://grasshopper.com/blog/6 Tips to Help a Struggling Small Business Stay Afloat/ via IFTTT
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