Why mentors are important for small businesses

 


Being in business is hard. The failure rate is an indicator of how difficult it is not only to run but sustain a business. There are many reasons for the low success rate, but one that’s often overlooked is lacking a mentor. A mentor will not necessarily be your cheerleader when you want to quit. If anything, they will dish out some hard truths because they’ve been there before and succeeded.

Why when you want to quit? Surprising, one of the main reasons that most businesses fail is because people give up. Going about it the wrong way is one thing, but sticking it through and righting wrongs is another thing. You could have supportive people around you but if they are not helping you tackle the challenges professionally, throwing in the towel always seems like the most logical option for many.

Why a business mentor is important

While your support system can do this, mentors keep you accountable. The reason they are better is because they have a business eye. They can tell if you’re working toward a goal. You could be busy and feel productive, but if you’re not meeting the targets you set, they’ll help you redirect.

Stuck on what to do next? A mentor will add perspective and clarity to any ideas you have. As the saying goes, ‘two heads are better than one’ especially if one of them is smarter. We often feel attacked when someone pokes holes in our “grand idea”,’ but in business, it’s the difference between success and failure. Mentors also help you avoid pitfalls they experienced, saving you time, money and sleepless nights.

Before you start, however, it is essential to understand what makes a great mentor. The best ones are those who ask tough questions and challenge you to surpass your targets. They, however, don’t tell you what to do. The most they’ll do is share their expertise and give advice, but ultimately, the decision lies with you. Such mentors are respectful and understand that it’s your business, not theirs. Anyone who gets upset when you don’t follow their suggestions should be avoided. They’ll do more harm than good.

Getting a business mentor

An online search for ‘top mentors in my area’ won’t do you any good. It doesn’t have to be someone prominent; they just have to be someone who runs a successful business. If you want to become a consulting car accident lawyer, get someone in the same field. Look within your local network; you’ll be surprised to find someone who fits your industry or niche.  They’ll be more willing to help if you’re from the same area.

Once you’ve exhausted your options, consider sending a short email detailing your startup and why you’ve reached out. It is crucial that you personalize your note- read on the potential mentor to show that you understand their brand and why you inspire them.

Asking for a meeting is not the best approach. Wait until there’s sufficient correspondence to initiate … Read More

How to make your ‘about’ page more engaging

After your website’s landing page, the about us page is the most viewed, on average. It is easy to fall into the trap of introducing your staff, or just putting up some buzzword-filled fluff piece, but putting a little bit more thoughtful effort in will pay dividends over time.

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If you aren’t dealing with a professional web development company in London, though, it can be intimidating or confusing to know what to write about. To help, here are four areas to consider to improve your about page.

Consider your target audience

Just like any client or public presentation, when putting your about page together, you should consider your target audience. If your target customers are industry members, you don’t need to shy away from statistics, technical language, and some industry buzzwords, but you may need to keep a more professional tone. However, if you deal mostly with individuals, especially outside of a business environment, a more personal approach may be much more effective. Including anecdotes or telling a story through your about page may be more appropriate in this case.

Create engaging content

Just like anything else, if the content isn’t interesting or useful, you will not make a positive impression.

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Professional web development services by Redsnapper and other companies have professionals working on engaging content, but if you are doing it yourself, consider creating a narrative through your about page, focusing on your company goals or story, if appropriate.

Don’t be afraid to show off

Many people, even in business, find it difficult to show off, preferring a more modest approach, but showing off a little can improve the appearance of your business. If your business has won awards, they should be included on the about page. In many cases, customers are comparing businesses they have never dealt with, and awards help to differentiate your business from competitors and increase customer trust –  https://www.vearsa.com/4_reasons_awards_are_important/.

Even if you have no awards to show, testimonials from satisfied customers can have similar effects and are worth including.

Help customers connect to you

To retain customers effectively, you want to connect with them at multiple points if possible. Your page should include an easy way to subscribe to your mailing list, if there is one, as well as social media links, to encourage clients to connect with you, but also share your site.… Read More

How Trade X1 Has Revolutionized Forex Trading

Due to the success that has been attributed to the rise of Forex trading, the Forex industry has seen a tremendous increase in the number of Forex trading companies making an entrance in the market. On the other hand, traders who have realized the benefits of Forex trading have on their part established ways of getting into the market and having their own fair share of the pie. Though we have numerous Forex trading companies, it is usually of the essence to do a constructive research before investing your money in a company or market that you are not sure of.

If you are new in the Forex market and you would like to know more about this industry, I would suggest you join Trade X1. As a company that has been established by professionals in the Forex trading industry, TradeX1 primary mission is to create a platform where there is a conducive working environment that promotes wealth creation.

TradeX1 is a globally-acclaimed, and an award-winning Forex trading platform that has no doubt revolutionized CFD and Forex trading. This company brags as being a top flight online Forex brokerage company whose main aim is to provide a secure, productive, and reliable platform for traders.

This trading company provides each trader with a set of cutting-edge tools and various performance-enhancing services to guide you through the entire trading process. For instance, you can benefit from one-click trading, immediate access to quick data, implementation strategies, and most importantly, current Forex quotes to facilitate simplified trading. Apart from this, you can also benefit from technological tools such as data analysis and stock charting software.

How to Register and Open an Account

Opening an account with this trading company is a simple process that won’t even cost you more than a minute. All you need is either your driving license, your passport, or your national ID. Simply visit TradeX1.com and fill in the form and submit it electronically upon completion. Once your application has been approved, you will now have to choose your preferred account type and proceed with the trading. If you are new, the company has a tutorial to help you understand how the trading process works.

The company is devoted to providing a secure trading platform that allows you to focus on your trading while leaving the rest to the company. With this in mind, you will have the opportunity to grow your portfolio, increase your wealth experience, and most importantly, earn more from the company and your trading in general.

This innovative company has a set of investment tools which offer each trader numerous growth opportunities to match their trading skills. What this means is that you will get the chance to allocate your funds to the platform and choose the trading strategy that will work out for you.

The company has different types of accounts that have been individually modeled to suit the preferences of each trader. Apart from this, the accounts also provide a platform where … Read More

What are the prerequisites for starting a recurring deposit

The recurring deposit is one of the best options for investment in India. It is a term deposit where you have to pay monthly installments, and at the end of the term, you will get the maturity amount after TDS containing your deposited amount and interest on it.

The first step you must take to check out the interest rates of different banks and then choose the bank that you like. After choosing your bank, you can visit their nearest branch or check their website for the terms and conditions. You should be read all the penalties applicable under different unforeseen circumstances like frequent payment dues, non-payment for consecutive months and likewise. The following is the complete list of prerequisites for starting a recurring deposit.

Open A Savings Account

  1. Open a Savings account in the bank you have chosen. To open a savings account, you need to visit the nearest branch of the bank. Fill up the forms, produce identity and address proof and other necessary documents like PAN card, Aadhaar card, recent color photos, and deposit the minimum balance to start an account.
  2. Activate the Net banking facility for your account if you wish to start online recurring deposit hassle free. You can also opt to start a recurring deposit account offline by revisiting the nearest branch.

In either case, you have to choose the recurring scheme like regular recurring scheme, flexi recurring scheme, senior citizen recurring scheme or any other special type of recurring scheme the bank offers. Understand each of the schemes clearly along with their interest rates, hidden charges, and penalties before selecting one. The Flexi recurring scheme is suitable when your monthly installments are high. Otherwise, you can always select a regular RD with an auto deduction of monthly installment feature from your saving account so that monthly payments do not get overdue.

  1. Then you have to select the monthly installment and the tenure. A longer tenure means better interest rates and better returns. It also means you need to pay monthly installments for a long time. The minimum term is generally 6 months while the maximum is 10 years. The minimum monthly installment is generally Rs.100. You can use a recurring deposit calculator to see how much maturity amount you get based on monthly payment, tenure and interest rate so that you can decide the perfect combination for you.
  2. Fill up the forms carefully, read all the terms and conditions once again and produce any required documents most of which are already with the bank. If you open it online, your savings account will be automatically linked to the recurring deposit account, and you can opt for auto deduction feature. In offline mode, you must ask the representative to ensure that the above-mentioned things are done. You have to produce your savings account passbook and a few recent color photos.

Pay the first monthly installment and congratulations; you just started a recurring deposit. You can take a print of the payment and details … Read More

Financial advisors: How to strengthen your data security

Data security can include the addition of digital privacy measures that can prevent unauthorised access to websites, databases and computers. This is a global problem, with hackers corrupting data and causing major security risks.

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Protection

How do we protect ourselves from the daily threat of cyber attacks? Any business in possession of critical documentation is at risk of becoming a target for online fraud as the number of cyber attack cases aimed at hacking confidential information is at an all-time high. With an increased number of security breaches in the investment industry, financial advisors are questioning whether they are doing everything they can to protect their firms from risk. Many advisors are re-assessing their procedures and internal systems and making changes where necessary.

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User awareness training courses are being implemented that arm advisors with their firm’s cybersecurity program and let them know what policies and procedures are currently in place, what their risks are and how to mitigate them.

Awareness

Financial advisors need to make themselves aware of their Corporate Governance, Enterprise Risk Management and Corporate Compliance to ensure the protection of clients’ personal information. Make sure your anti-virus software is up to date and set your computer to automatically lock users out after a period of inactivity.

Encryption

Encryption is a sure defence against hackers as encrypting files helps protect them should physical security measures fail. Encryption is used to protect data in transit, for example, via networks. In addition, data should be encrypted when it’s transmitted across networks to prevent unauthorised users listening in to network traffic.

Back office systems for IFAs https://www.intelliflo.com/ are used widely in the investment industry, with many platforms and applications that don’t interface with customers but help with the backbone of administrative work.

Financial advisors are educating their employees about dealing with the threat of a cybersecurity. Help has come from the Securities and Exchange Commission (SEC), who have initiated a series of spot-check exams that some advisory firms must take. The results will show how well-prepared these firms are if an attack happens.

Compliance officials are assessing the efficacy of cybersecurity programmes, putting the necessary protocols in place to root out and respond to any new cyber threats.

Don’t cut corners. Clean up your system and don’t allow hackers to get in through the back door.… Read More