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Starting up an E-commerce Business With Minimal Investment

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StrategyDriven Starting Your Business Article |Start an E-Commerce Business|Starting up an E-commerce Business With Minimal InvestmentAfter the covid-19 pandemic disrupted various industries, statistics suggest that more than 60% of business closures were due to the pandemic and lockdown restrictions. Directly after this, the value of the e-commerce industry took a spike more extensive than ever before; innovative businesses and individuals started investing and creating online companies that offer better and cheaper alternatives for consumers. In 2020 the value of the e-commerce industry was more than $4 Trillion and continues growing today. Online businesses have become incredibly profitable and, with appropriate marketing, even more so. The good news is, it’s no longer as difficult to get a hold of all the aspects you need in order to create and develop a successful, user-friendly sales platform. This article will look at how you can create and market an e-commerce platform in 2021.

1. Source Products or Services

The best part about creating an online platform like this is that you don’t always have to manufacture or specialize in service to market or sell it. You can source sought-after products and services from businesses and resell them to consumers. All you need is a solid business model, suppliers, and service providers. This doesn’t mean you can’t manufacture or deliver the services yourself. The cheaper you can obtain the product or service, the more profit you’ll be able to put in your pocket.

2.  Create a Website

A few years ago, web development and websites were out of reach of standard businesses; it was expensive to build and even more so to maintain. With WordPress, you can easily create and launch an appealing website for your e-commerce business. You can also choose between thousands of plugins to give your users the most user-friendly experience possible. Make sure your website is responsive and informative to convince users to make a purchase. Make sure you get a confirmation of purchase from the customer; you can quickly set this up using electronic signature software. This will ensure you waste no time on customers that are not serious about acquiring your products or service.

3. Marketing

Your marketing will be one of the most influential factors in your business’s success. The better you market, the more profitable it becomes if you do it right. If you market to the incorrect audience and get zero sales from marketing campaigns, you’re doing it wrong. Ensure you do research and target the correct demographics when you’re running marketing campaigns. You can use strategies like Google Ads, where you target specific keywords and pay per click. On the other hand, social media marketing offers you an opportunity to generate sales and pay per impression.

Over and above these two platforms that offer instant results, a search engine optimization is also a good option. It’s the process of increasing the quality and quantity of website traffic by using organic search results from Google. This means after some time; you’ll be in a position where you can generate website traffic without even paying for it.

By opening an online business, you have the opportunity of creating a sustainable business for yourself and your employees.

Who owns a VoIP number – 5 Ways to Find Out!

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StrategyDriven Managing Your Business Article |VoIP Number| Who owns a VoIP number- 5 Ways to Find Out!VoIP phones have become the new normal for businesses everywhere. The convenience in which they allow calls across the world is hard to ignore. With immense VoIP blessings, there’s a common concern when companies utilize VoIP for calling.

One of the most common questions that occur in their mind- Is it possible to trace the unidentified numbers to the owners?

Are you wondering why it is even necessary? Well, it is because when unidentified callers call you through the system, you can only see the caller ID. And, this lack of information can make it daunting, especially when you wish to know who’s calling through your office phones. Thereby, the main issue rests with tracing the owner number.

So, coming to the fundamental question- is it even possible to trace the owner of a number? It indeed is, and you’d want to thank later after knowing the ways. All you’ve to do is stick on and discover:

Setting up your Device to Display the VoIP CallerID Name:

It is effortless to track the VoIP number provided you have an original number in place. However, many systems may not display the entire number, and this process of determining the number consists of two parts.

The first is the caller ID, which you can see all the time along with your regular calls. The caller ID name (CNAM) is the second part, which the phone systems don’t display. Thus, VoIP distributors suggest changing the phone configuration for displaying both CNAM and the ID name.

VoIP Service Provider:

One of the best ways of finding out the owners of unidentified VoIP numbers is through the service provider itself. Just note down the caller ID and the call time. Now reach out to your voip Phones distributors and provide the necessary details. The experts will help you track the owner of the number for you.

It is one of the most convenient methods. But, the only problem with this method is that the caller must have a reliable IP address and a registered caller ID to use the same for your calls. If the callers employ a fake IP, tracking them will be a lot harder.

Reverse Phone Detective:

For this method, you need different apps for tracing the owner registered to the phone line. You can make use of several reverse phone detectives on the internet. And, most of them are free of cost- the best thing.

Businesses- you need to enter the caller ID in the search engine for producing the owner. Also, the online reverse searches aren’t just restricted to VoIP. You can also trace landline calls for displaying the number.

Using Softphone or Hardphone Packet Analyzers:

Are you connected to a server or proxy and using a Session Initiation Protocol? If yes, then there’s a way of tracing the VoIP number through a packet analyzer. All you need to know is how you’re connected- is it through a server or proxy.

Employing the VoIP Address Domain:

A VoIP address comes in one of the formats: [email protected], [email protected], and others. You will have all incoming calls logged into the phone number either as a VoIP address or mapped digits. Using the domain name, you have the ease of tracing the IP address, provided you have the number that called you.

The Verdict

Businesses- tracing any VoIP call is very much possible. But, before that, it becomes vital to know the process, which generally varies.

All you need is access to details for a better understanding of the things available for your use. Then, employ one or all the methods above, and you’ll never have to worry about anonymous business calls!

4 Sustainable Methods Your Business Needs To Utilise

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StrategyDriven Managing Your Business Article |Sustainable Business|4 Sustainable Methods Your Business Needs To UtiliseBusinesses should be utilising the most up to date innovative sustainable methods they can to help improve their business practices.

Energy Reduction

One of the main sustainable methods business can utilise with ease in a short period of time, is in regards to their energy use. That means using less energy when the business isn’t open, such as at night, or using machinery and lights that are designed with energy use in mind.

LED bulbs are an example of a bulb that lasts longer, and uses less energy. Not only is this better for the planet, but it helps drive down the bills associated with energy for businesses.

Sustainable Construction Materials

Whether you’re constructing a new workspace, or investing into property on behalf of a client, you should use sustainable construction materials where possible. Renewable and recyclable materials will help reduce the impact on the environment, as well as helping to reduce energy consumption and waste.

When the building is constructed, the building should be able to have a reduced impact on the environment over its lifespan, using designs that incorporate different elements that have a positive effect. This could include insulation innovation, to help prevent any heat loss that could otherwise happen, and solar panels to help combat energy consumption within the structure.

Construction itself can be damaging to an environment, so you should conduct an environmental report to find out what the damage may be. This could be destruction of habitats, or huge numbers of machinery needed that will use a lot of fossil fuels, or excessive use of electricity.

Sustainable Packaging

If your business deals with any goods, either coming in or out, then you need to be utilising the newest sustainable packaging. There was a push in the UK in 2018 for businesses to work on eco-friendly packaging, to help combat climate change. Consumers themselves were choosing to buy fewer products that have excessive packaging.

Social media has been a big part of this, where people would share products, they bought with too much packaging, putting off people from buying. There are lots of different ways for businesses to improve their packaging methods, from using organic fabrics, to using sustainable polythene from Polythene UK. They use a lightweight material that reduces consumption up to 20%, which vastly reduces plastic waste.

Changing to a supplier of packaging such as this, will help your business abide by the current environmental trend, and do something positive in the world.

Use Local Suppliers

Local suppliers are a great sustainability tool, even if they don’t necessarily offer any sustainable focused goods. That’s because even if you decide to switch from a supplier to another that has the exact same product, but is closer, then you will save on travel.

Travelling costs money and time, as well as causing a mass release of carbon dioxide into the Earth’s atmosphere. This leads to climate change, which can cause weather patterns to fluctuate, affecting farming and general liveability of the planet.

Using a local supplier is also a great way of boosting the local economy, which in turn will benefit you. This is why many businesses network in their area, to create connections that they can use in the future, which local consumers also appreciate.

How The Pandemic Changed Everything For Entrepreneurs

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StrategyDriven Entrepreneurship Article |Pandemic|How The Pandemic Changed Everything For EntrepreneursThis pandemic has made us realize that we cannot predict the future. Business entities now have faith that their success depends on their ability to adapt to change. The preventive measures taken by governing bodies disturbed the entrepreneurial systems. The social and economic mediums of businesses were adversely affected due to this pandemic. The majority of the businesses got liquefied due to the adversities caused by this pandemic. Small-scale businesses and startups were the most vulnerable to these restrictions.

But entrepreneurs are a peculiar kind of successful people. They have the vision to extract opportunities from disasters. They are the ones for whom challenges are gratifying rather than frightening. Numerous entrepreneurs responded to the change optimistically instead of straying away from it. The change in business models and strategies has resulted in new entrepreneurial norms and a more digital atmosphere. It’s safe to say that the pandemic changed everything for entrepreneurs, and here’s how.

1. Digitalization Becomes Inevitable

Since the coronavirus broke out, we have witnessed an exponential increase in the need for digitalization. Entrepreneurial procedures are being shifted to digital platforms. All the major sectors like agriculture, education, trading, banking, and various business models are now rapidly transforming into digital versions.

As an entrepreneur, you must be acquainted with the digital processes in the business world. Luckily, learning resources for digital domains are increasing with the demand as well. They assist you in aligning with the exclusive integration of digital and business ecosystems. Several courses are now available on physical and virtual platforms to help. You can opt for courses like MBA programs no GMAT to gain access to virtual education to tackle your studies and startup at the same time.

Entrepreneurs who went digital were the only ones who successfully retained their market existence last year. Marketing campaigns are now run via mobile phones, emails, social media platforms, etc., reaching customers digitally rather than going door to door. Several service providers have even evolved their services to be contactless.

2. Shift Towards Remote Working

One of the biggest changes is the shift of workstations from offices to remote locations. Offices have now been shifted to home lounges from high-rise buildings, and “work from home” is the new slogan. If businessmen cannot meet people in person, they have found a way to work remotely. Virtual meeting rooms like Zoom, Microsoft Teams, and Google Meet are on the hotline since then.

Remote working has provided multiple benefits to the employees as well, like work-life balance, saving transportation costs, and an open room for time management. But, on the other hand, some entrepreneurs faced deterioration in work effectiveness due to remote working due to the addition of domestic responsibilities. According to a survey done by Kings College London, almost 22.6% of entrepreneurs faced difficulties due to such responsibilities. But, entrepreneurs must adapt to the need of the hour to ensure the success of their business.

3. Worldwide Supply Chain

The commerce and procurement sector is connected worldwide. This community took disastrous effects from restrictions over the international borders. It was a dire issue for supply chain executives when they could not communicate with vendors in the virus-affected zones. Most of these executives had their supply chains linked to the Chinese industry. Unfortunately, it became the center of covid-19 and abruptly disturbed the supply chains of every scale. Shortage of goods and materials caused an immense reduction in the productions of electronic and automobile industries. Production hubs like Taiwan, Korea, Indonesia, Vietnam, and India used to outsource their products from China. As a result, they faced a significant reduction in their entrepreneurial activities. The scarcity of supplies led to numerous challenges for the majority of the industries in meeting their targets. Supply chains have begun to gain momentum recently, but promising forecasts cannot be made yet.

4. Challenges For Small Scale Entrepreneurs

Since the pandemic, it has been a difficult time for small-scale entrepreneurs. Covid-19 has brought agonizing challenges to the newbies, and the majority of them are struggling with their businesses. A study by the Asian Institute of Research declares that 41% of small-scale entrepreneurs fell in the red zone during the pandemic and lost control over their cash flow. It was also seen that 20% of the startup got their commitments declined by investors. In addition to that, 53% faced a slowdown in the process, while only 27% were able to function normally.

In addition to this, almost all of the startups had to reduce their expenses. Some entrepreneurial firms even recorded a reduction of 76% in their operational costs. Almost 70% of the firms had to nullify contacts with their full-time employees, which affected their workmanship.

Closing Remarks

You can observe entrepreneurs enjoying hikes in their revenues during this pandemic. This is because they are the ones who have adapted to change and have stayed resilient. The essential step for staying resilient is to accept that you have certain boundaries, and being rigid won’t help much. This approach will lead you to regain control over the aspects that you can influence rather than dwelling on constraints that you can’t control.

How To Finance Business Growth

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StrategyDriven Managing Your Finances Article |Finance Business Growth|How To Finance Business GrowthYou can start and grow a business with very little money. In many cases, however, you will be able to grow your business more quickly if you can invest in its growth. With that in mind here are five options to consider for financing business growth.

Barter with other businesses

Bartering may sound old-fashioned. In actual fact, however, it’s very much alive and well and can work brilliantly for businesses. The key to successful bartering is to know the value of what you’re offering and make sure that you’re getting something of (approximately) equal value in return. This does usually involve some trust so it tends to work best with businesses you know.

Monetize your business assets

In the real world, bartering is good but it will generally only take you so far. Ideally, you want actual cash income. You may be able to get more of this by monetizing what you already have. For example, if you have real-world space, you may be able to sub-let (some of) it at least some of the time without it negatively impacting your business.

If you’re operating purely in the cloud, then make sure you monitor your real-world usage carefully. Act promptly to scale your resources up or down. This ensures that you are always paying for exactly what you use. Remember, a cent saved buys as much as a cent earned.

Apply for grants

This one can be hit or miss but if you hit it’s often free (or very affordable) money. It’s therefore always worth keeping your eyes open for business grants. Businesses that can demonstrate some level of social responsibility often get priority for these. Similarly, grants are frequently offered in line with general aims, for example helping businesses to be more sustainable.

Get business credit

The key to getting business credit is to work on the assumption that you’re going to need it. If it turns out you don’t, then your preparations will have benefitted you anyway. If it turns out you do, your preparations will benefit you even more. Preparation number one is to polish your credit record to a fine shine.

As soon as your credit record allows, get a small amount of business credit, like a business credit card with a low limit. Use it regularly and responsibly. This will keep pushing the needle on your credit score in the right direction.

Invest for your business

There are two ways you can do this. One is to invest personally but to divert (part of) your profits to your business. The other is to have your business own its own investments (assuming you’re incorporated). You could use a combination of both.

In either case, there are two key points to keep in mind. Firstly, you need to act mindfully. This means that your investment strategy has to be tailored to your goals. For example, is your aim to maximize capital growth or to maximize dividend income?

Secondly, your choice of trading platform does matter so do your research before you pick one. FXGlobe reviews are a good place to start. Fees are (very important) but so is the user experience. This includes security both in terms of regulation and in terms of cybersecurity.