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Top Advantages of an Esports Business

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StrategyDriven Starting Your Business Article |Esports Business|Top Advantages of an Esports BusinessThe modern world has opened all sorts of different business opportunities that are worth exploring and discovering more about. Esports is a field that has been taking off in a big way over the past few months and years. So, if you are considering getting started in this sector and would like to know more about it, here are just a few of the main advantages that are all worth bearing firmly in mind.

A Growing Industry

To begin with, it is clear to see that esports is a growing sector and one that seems to be always moving in a single direction. Revenue continues to increase, thanks to the number of people who have discovered it, as well as the range of businesses that have opened up off the back of it, from management agencies to a platform for betting on lol. At the same time, the number of players and teams is also on the increase, as well as the advertising dollars that continue to flood in. Of course, this opens the additional disadvantage of meaning that you are going to be up against a whole heap of stiff competition, but if you are prepared with a clear strategy on how you are going to deal with all of this successfully, you can certainly put yourself in a strong position.


A Large Increase in Viewing Figures

All of the statistics seem to point towards viewing figures being on the rise in the world of esports. Essentially, this means that if you are looking to launch a business that deals in the area in one way or another, it is going to be more than likely that you will be reaching a larger and larger audience. A big part of this comes down to the fact that esports is becoming more and more sophisticated. At the same time, there is also a growing number of people around the world that can access and enjoy esports from wherever they are located. Many people who have always been put off traditional sporting endeavours do not find that the problems are the same in the world of esports.

Lower Start-Up Costs

While many traditional sporting businesses are going to require a significant cost investment for them to achieve the level of success that they are looking for, this is simply not the case in the world of esports. Of course, this does not necessarily mean that everything is going to come with no price tag attached at all, but online businesses tend to be cheaper to start that their real-life counterparts.

So, if you are thinking of getting involved in the world of business and esports, these are just a few of the main advantages that you can expect to receive. Ultimately, this is a sector that seems to be moving in a very clear direction now – and it is on the up. It’s a great time to get involved with this exciting industry that’s going to continue to grow.

Inventory Management Options for E-Commerce Businesses

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StrategyDriven Managing Your Business Article |Inventory Management|Inventory Management Options for E-Commerce BusinessesInventory management is central to business success; you need to get the balance right to future-proof the business and ensure that you stay profitable. If you are new to inventory management or you need a refresh, read about the fundamentals of inventory management.

Safety Stock

E-commerce businesses across the board need safety stock to cover any unexpected occurrences, In recent times, panic buying has led to issues with stock and revenue streams, so it’s important to understand the threats to your business and improve overall resilience.

There are various ways to manage your safety stock. If you work with wholesale products, you can negotiate terms with your manufacturer to ensure you have enough products to cover over or under-buying. Learn more about How to Inspect Your Inventory for your future success.

Balanced Inventory

So much of business success comes down to balance, and a balanced inventory is central to any success. A balanced inventory is simply having enough stock in reserves to serve customers but not having so much of it that you will have to liquidate the company short term.

Again, having a balanced inventory is all about knowing your target audience inside out; you have to understand the dynamics of the business to make smart choices about your inventory management. The more data you have, the easier it is to cover demands and future proof.

Kitting Technique

The kitting technique is a common way to manage stock online and offline. If you have too much stock in reserve, you can put two items together and offer them as a deal. These are typically buy-one-get-one-free offers that allow you to trim back your inventory and offer deals.


The kitting technique is a win-win situation that can be used to boost your brand and trim your stock; it is often used after busing seasons, such as Christmas when businesses need to offload a lot of unsold stock. That said, the kitting technique can be used at any time for a sales surge.

Future Stock

Stock management is a key component of e-commerce businesses, especially ones that manage their own stock. Get this process wrong, and it can cost the business substantially, get it right, and you strike the right balance that grows the business in a controlled kind of way.

In order to predict future stock, you need to understand what you are selling and when. Tracking sales is the best way to gather this data and make future predictions about what you need in your inventory. As you can imagine, it is better to overstock and sell items in a kitting sale.

Smart Storage

Smart storage solutions also need to be considered for the business inventory. The stock needs to be located in a place that is easy to reach and safe to keep valuable items. Make sure your storage space is clean and dry to protect your stock; many small businesses use self-storage facilities for their stock because they are secure, dry, accessible, and can be reasonably priced.

5 Steps To Modernize Your Company’s Online Presence

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StrategyDriven Online Marketing and Website Development Article |Company Online Presence|5 Steps To Modernize Your Company's Online PresenceNo matter who you are, you need to find ways to increase your brand’s online reach, and you can choose things like promotions and content. But, if you haven’t focused on the impact of your online image for a while, you might find that it is outdated. This could mean that many competing companies have passed you by, making it difficult to gain a foothold in your industry. If your online presence feels outdated, now is the best time to make crucial changes, so consider these five steps to modernize your company’s online presence.

Work With Design Agencies

You may have plenty of knowledge about your industry. But if this doesn’t revolve around web design, you are better off working with external design agencies who can visit office locations to get an idea of the type of vibe you want to present. From here, these agencies will be able to discuss your needs for your website and other platforms so they can create an easily recognizable image for your brand, clean up your website and social media pages, and make sure your company looks like one that belongs in the modern world.

Check Your Information Is Accurate

All companies must ensure their contact information is up-to-date on their website and search engines. However, these changes are often a low priority, especially when considering other essentials. This can mean that office hours and other details are ignored. But, customers will lose faith in your brand if they cannot locate you, so quickly checking that all your information is accurate (and changing it if it isn’t) is an easy step to help modernize your brand.


Keep Styles Consistent

Consistent styles across all platforms will make your company immediately noticeable. This means using the same font and color scheme. You can also use the right tone with your written content. If you prefer to engage customers through excitement, big and bold words and images are vital. If you prefer a more sophisticated approach, look for understated yet classy images and fonts that will garner interest from your desired customer base.

Maximize Online Resources

There are plenty of online spaces you can occupy, and ignoring the potential of these means your company could fall behind. Social media is the most obvious resource, and you need to make sure you spread your influence across as many areas as possible. This means regular posts on all popular platforms to maximize your chance to reach the right people.

Match Your Audience’s Needs

Creating relevant content that meets your audience’s needs is a fantastic way to drive engagement and prove that you have successfully modernized your approach. You need to understand current content trends, as this makes it easier for you to adapt and stay in the conversation because if you aren’t saying something, you could be forgotten about quickly.

Modernized

A modern business will always be more appealing to the latest generation of consumers. By ensuring your online presence is clean and contemporary, you can make your company stand out as one worth looking at and frequenting. In doing so, you’ll boost your profits and your reputation to make your company one of the leaders in your industry.

4 Reasons Your Staff is Lacking Productivity

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When it comes to productivity, your team is only as strong as its weakest link. So it’s crucial that you make sure everyone is on board and doing their part in order to reach maximum efficiency as a team. Before you can get to this point, however, you have to find out where the kink in the hose is.

Once you identify the reason for your lack of progress, you can make adjustments where needed. Here are some of the most likely reasons why your staff isn’t where it needs to be, and what you can do to remedy a productivity issue.

Unspoken Frustrations

Even though all of your team may be completely professional, humans are still emotional beings. If your team has a poor working relationship with each other, then they’re going to have low morale. It’s important that you keep your team motivated, and encourage communication among staff. If there are any issues coming up, make sure that they’re addressed immediately so that you can identify any work-related frustrations.

One of the best places to start is having a meeting so that you can go over any pending issues that need to be discussed as a team.

Lack of Praise

If staff members feel like they’re not being recognized for their efforts, then it won’t motivate them to continue working hard. Besides monetary reward, employees also require verbal encouragement and recognition.

Make sure that you bring up a job well done in front of the entire team. When you can praise your employees openly, you’ll give them a sense of value that keeps them inspired to continue delivering their best work.


Poor Leadership

When working in a group environment, it doesn’t matter how strong each individual is at their job if you don’t have a strong leader behind them. A strong manager is essential for keeping everyone on task, and delegating roles based on individual strengths.

As a manager, it’s your job to make sure everyone is fulfilling a role they’re best suited for. After all, half of the battle is delegating to the right people. If everyone is playing to their strengths, then you’ll move much faster with fewer issues that come up as you go.

Time Lost on Manual Tasks

It’s crucial that you’re constantly striving to look for new updated ways to get work done. Sadly, many teams are stuck in the past when it comes to manual processes. If your team is wasting half of their day on tasks that could be done with software, then it’s time to start thinking about an upgrade.

Automation software can save your team hours of manual work per day, and free up your schedule so you have time to focus more on what matters at your business, like forming new ideas and customer relationships.

Is There A Grace Period For Car Insurance When Buying A Used Car?

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StrategyDriven Risk Management Article|Car Insurance|Is There A Grace Period For Car Insurance When Buying A Used Car?Car insurance policies are necessary to have if you want to legally drive a car. Every state has its law on car insurance policies. Some states require you to only have liability insurance to drive a car. Some states require you to get a personal injury protection plan as well, while some require you to get uninsured motorist coverage as well.

When it comes to new cars that you buy from dealerships, you cannot skip the mandatory auto insurance policies in this case. You’ll have to show the dealership proof of insurance (that you own liability insurance, personal injury protection, etc) to get the keys to the car.

But what about used cars? Cars that you buy from private sellers who are not at all enthusiastic about checking your auto insurance policies? Do you need auto insurance policies in that case? Is there a grace period for car insurance when buying a used car? We’ll describe in detail everything you need to know about it, along with ways you can save money on auto insurance policies.

Car Insurance for Used Cars

While new cars when bought directly from dealerships require you to have all the necessary auto insurance policies before they let you take the car. Driving any vehicle without the proper insurance is illegal and will get you both legal and financial issues.

The same goes for used cars. No matter how you buy the car, either from the dealership or from a private seller, you’ll need to have all the mandatory auto insurance policies to drive the car. The only difference when buying a used car is that you do not need any proof of insurance.

Is there a Grace Period for a Used Car’s Auto Insurance?

There are two cases to consider when someone buys a used car. The first is when the used car is the first and only car the person owns. The second case is when the person already has a car and buys a second, used car. Let’s see what is to be done in both cases.

If the used car is going to be the first car, then make sure you buy all the important car insurance policies before you get the car. While you can get and drive the car without the policies, if you get in a car accident, you might face legal action, as well as pay hundreds of thousands of dollars for the cost of the accident.

There is no difference in the requirement and process of getting car insurance between used cars and new cars. There might be some differences in the cost of the policies, but the other process remains the same.

There is no grace period for insurance for buying your first car, be it a new car or a used one. But that’s not the case for buying a second, used car when you already have an auto insurance policy.

When you already have auto insurance and you buy a used car, you’ll have to add the car to your auto insurance policy. This is where grace periods come in. Depending on the state you live in and your car insurance company, the grace period could be anywhere between 7 days to a month.


No matter how many days your car insurance provider allows you to have before registering the car to the policy, it is never safe to drive a car without liability insurance, collision insurance, and other important auto insurance policies.

So the first thing you should do after getting the keys to your used car is add it to your car insurance policy. You’ll need to submit some information about the car and its usage to the car insurance company. This includes:

  • Price of the car
  • Vehicle Identification Number
  • Make and model of the car
  • Safety features such as ABS, ESP, etc
  • Mileage of the car

Price Hike

Depending on the car insurance company, the type and model of the used car, and the state you live in, the price hike after adding the used car to your policy can vary. Adding another car to your policy will increase the rates, no matter what.

Looking at the average, you can expect the price hike to be somewhere around $1,000 to $1,500 per annum. This means that you’ll need to pay an extra $100 for the added car. If you want to save money while getting the security of auto insurance policies, there are some ways you can reduce this damage to your wallet.

Firstly, make sure you choose the right car insurance company. Based on the state you live in, find the most affordable and best-rated auto insurance provider. For example, if you live in Nevada, look for the best Nevada car insurance company that has great coverage options.

Another great option that must be considered is pay-per-mile or usage-based auto insurance policies. These car insurance policies are great for secondary cars that are not driven too much. If you intend to use the second car only occasionally, then get a usage-based car insurance policy.

In usage-based car insurance, which includes all the mandatory insurance policies such as liability coverage, personal injury protection plan, etc, your premium rates are calculated based on how many miles you drive your car.

A base rate is first calculated by factoring in your driving record, age, gender, make and model of the car, etc. This base rate is then multiplied by your monthly mileage and you get your premium rates.

As you can guess, usage-based insurance is great only if your monthly mileage is low. If you drive a lot, usage-based insurance can be very expensive, more expensive than general car insurance policies. So first calculate the estimated monthly mileage of your before you buy this policy.

That was all about the grace period given by the car insurance company for adding used cars. Contact your insurer to find out their grace period. Even though you have a grace period, we recommend adding your car to the policy as soon as possible.