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What Are the Learnings You Can Refer to From Crypto Crashes?

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StrategyDriven StrategyDriven Editorial Perspective Article |Crypto Crash|What Are the Learnings You Can Refer to From Crypto Crashes?When writing an introduction, it’s important to remember that it’s the first impression your reader will have of your article. The purpose of the introduction is to summarize the main points of your article and whet the reader’s appetite.

You should also use this section to engage your audience with a question or statement that will make them want to read more.
The best way to write an introduction is by starting with a story, which can be something you’re familiar with or something you’ve read about in other articles. Once you have that story down, think about how it relates to what you’re trying to say in your piece: how does that story help explain why crypto markets are volatile?

What are Crypto Crashes?

Crypto Crashes are a normal part of the market, and they’re a good thing. These crashes happen when the price of crypto drops significantly below its average price. Crypto Crashes allow you to buy more at a lower price on the cryptocurrency exchange than you would have paid if you weren’t able to capitalize on their opportunity.

Crypto Crashes can be confusing because they don’t follow any kind of pattern or logic, but they can also be used as learning opportunities. If you understand why these crashes happen, then it will help you make better decisions when buying or selling cryptocurrency in future situations where things might get unstable in your portfolio.

Prepare for the Worst

  • Prepare for the worst.
  • Make sure you have a risk management plan in place.
  • Have a plan for what to do if the market crashes, or if it goes up or down by 50%.
  • Know your risk tolerance and make sure this is reflected in your portfolio choices: If you can ride out a bear market for six months, maybe consider holding more of your assets in BTC than ETH—but if you’re not willing to do that, then don’t invest any money at all!

Have a plan for how you will react if things go wrong:

  • Do you want to sell everything immediately?
  • Take profits off the table?
  • Or ride out the storm while hoping things get better?

It’s totally up to each investor how they want their portfolio to behave during these situations. However, they must know how best-suited their unique personality is towards handling them before making any decisions about their investments at all.

Don’t Panic

It’s tempting to sell your crypto when its value is low, especially if you bought it at a peak and you’ve lost money. But don’t panic.
If you’re thinking about selling all of your cryptocurrency, or any of it, wait until the market starts to recover. If there’s a crash, chances are good that it will recover eventually.

Even if there’s no recovery in sight, we suggest not selling all at once. That way, when the price begins to rise again (which we think it will), you’ll have some coins leftover that didn’t get sold during the crash!

Also, keep in mind: Selling now might mean missing out on future profits down the road. It is especially if things turn around quickly as they did after last year’s big correction.

Learn to Analyze Past Trends

In analyzing past trends, it is crucial to have a good understanding of what has happened in the past and why. Once you have this information, you can make predictions about what might happen next.

The best way to learn from past mistakes is by analyzing historical data for patterns. For example, if someone had invested in bitcoin at the beginning of its boom and sold when it dropped significantly (as many people did), they would have lost out on huge gains later on when the cryptocurrency started rising again.

This is because they didn’t understand how volatile cryptocurrencies could be or how they fluctuated over time.

You want to predict future trends based on historical data analysis. You can use Excel’s Sparklines feature or equivalent tools that allow you to quickly see how something has changed over some time. It is without having to manually enter all of your numbers every month/year/day into an Excel spreadsheet (or whatever tool works best for your needs).

Observe and Learn Patience

The most important lesson to take away is that volatility is normal. It’s easy to panic and makes rash decisions when the market turns against you. However, it’s important to remember that these things can happen—and they often do.

The best thing you can do is stick to your strategy and keep an eye on long-term trends, knowing that eventually, the bear market will end, just like all of those before it has.

Don’t get greedy! If an investment gives you a good return in one year but then declines by 50% in two years, then what is its actual ROI? You may have made money in one year but lost half of it by the time two years had passed. Like everything else in life: patience pays off.

Be Calm, Be Patient

When the price of crypto crashes, it is important to be patient and not panic. Do not sell your crypto because you think you will lose money on it. It is also a good idea to follow your investment plan and know what you are investing in.

The market has changed from when it started and now that more people are trying to make money from the market, there could be a lot of manipulation going on, especially by those who have huge amounts invested in this space.

So if you see something happening in the market or if something doesn’t look right, take some time before making any decisions about your investments.

Conclusion

It’s time to wrap up this article with a few key learnings. The following are some of the most important ones:
Be prepared for the worst and don’t panic when you see your favorite coin falling sharply.

When you’re in love with your investments, it can be hard to maintain composure during market crashes. However, if you take a deep breath and remain calm, you’ll be able to analyze past trends and consider potential causes for price fluctuations more clearly—and that will help you make better decisions in the future.

The Importance of Effective Communication: 3 Ways to Keep Contact With Your Suppliers

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StrategyDriven Business Communications Article |Effective Communication|The Importance of Effective Communication: 3 Ways to Keep Contact With Your SuppliersEffective communication is one of the most critical factors in any business relationship. It can make or break a partnership, and it’s especially vital in manufacturing. Keeping track of details, sharing files, and staying organized is essential to maintaining a solid working relationship with your suppliers. If you’re thinking about establishing new partnerships with your suppliers or want to strengthen your existing ones, read on to learn more about effective communication.

Communicate with your suppliers from the beginning

Communication is key at all stages of business, but it’s even more crucial when working with overseas suppliers. Therefore, it’s important to communicate your expectations and requirements from the beginning of your relationship. This way, you should reduce the likelihood of miscommunication later down the line.

The best way to communicate is in-person, but this is often not an option for many businesses. Whether due to time issues, distance issues, or other problems – as we found in recent times with the coronavirus pandemic – meeting in person isn’t always an option.

Try video calling or speaking on the phone. Email can work too. These forms of written communication should be drawn up carefully to ensure everything is clear.

Stay on top of updates and changes

Communication is what holds your business relationships together. It helps partners stay informed, collaborate more effectively, and make smart decisions. While that initial communication is key, continuing to communicate with each other throughout your partnership is the only way to ensure your work goes smoothly.

However, communication can only be effective if it’s two-way. Make sure you’re staying on top of updates and changes. If you’re working with a supplier, they should keep you informed of any changes, too.

When managing a large, global operation, you’re bound to have unplanned changes and updates. So make sure everyone involved in your supply chain knows about these changes as soon as they happen.

Sending regular B2B emails can effectively ensure everyone is aware of any updates or changes. Finding good B2B email ideas can be difficult – especially when there aren’t many changes to update on, but keeping these emails regular will create trust in your suppliers that, when there are changes, they will be made aware.

Keep track of your suppliers’ communication patterns, too. If you notice an increase in a supplier’s communication, it could indicate a problem. This could be anything from a miscommunication to an issue with their operation.

Use cloud-based file storage

Cloud-based file storage is an integral part of effective communication when working with suppliers. You and your partners will likely be sharing files, but you don’t want to put sensitive information on someone else’s server. Cloud storage offers security and privacy that a physical server doesn’t.

It also makes sharing files more straightforward for everyone involved—without compromising security. Use a cloud-based file storage system as soon as you start collaborating with suppliers. This will help you keep track of all the files you’re sharing, make them easily accessible, and keep them safe.

For example, Dropbox is an excellent option for B2B manufacturers who want to streamline their communication, collaborate more effectively, and stay organized. It’s secure and simple to use, making it easy to share files—and track what’s being shared.

4 Ways to Make Your Customers Feel Valued

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StrategyDriven Customer Relationship Management Article |Make your customers feel valued|4 Ways to Make Your Customers Feel ValuedIf you want to make sure that your business is a success, then you have to make sure that your customers feel valued. If your customers or clients do not feel valued, then you may find that they seek the same service from elsewhere and this is the last thing that you need. If you want to do something about this, then you need to make sure that you are doing everything you can to focus on your customers and also make sure that they are respected at every stage of the process. Want to find out more? Keep on reading.

Clients are People Too

Everyone loves the feeling of being acknowledged, even in very small ways. One thing that you can do to try and help them here would be for you to ensure that you are treating them as if they are real people. They are not robots that sit on the other side of your computer screen, and they are not another number in your sales pipeline. Find out when your clients are going to be celebrating their birthday or even an anniversary. If it works for your company, then you need to try and offer them a discount if you can. This can work wonders for your sales, and you may even find that it shows your customers that you value them and the business that they bring in. Sign the discount card personally whenever you send it to them in the mail as well. If you can do this, then you’ll soon be able to make them feel more looked-after.

Give them some Personal Attention

Nothing says “very important person” than having someone actively roll out the red carpet. That being said, you do not want to suffocate your customers and clients. You do not want to pounce on them the moment they walk through the door. If you know that your clients do a lot of business with you online rather than in a storefront, then don’t send them emails all the time. If you do, then you may find that they end up feeling overwhelmed. You may even find that you end up turning them off if they feel pressured into using you, and this can cause you to lose out on business in the long run. If possible, you need to find the right balance so that you don’t seem pushy, but caring and supportive instead. This will help your customers to feel valued more than you realise. If you want to support all of your customers, then you may want to invest in something like LoopTV.

Thank Them

Whenever possible, you need to try and thank your clients for doing business with you. You do not want to overdo things here as you may come across as being false. If possible, you need to make sure that you are always genuine and that you are also speaking to them from the heart. By being authentic you can really resonate with them, and you can show them that your company cares more about them than the money they give you. This is an essential step when it comes to customer satisfaction.

Use Gift Cards

Newer clients can easily be given things like gift cards. That being said, you need to make sure that you are not forgetting about the clients that you are working with right now. Your repeat customers, who have come to you time and time again need to feel rewarded too. Loyalty programs are a great way for you to do this and it rewards them every single time they make a purchase. You might also want to think about holding a client appreciation day too. This is a set day where you can thank all of your clients for doing business with you. You have to remember that they are the reason why you are even in business, so it helps to make them feel appreciated.

So, if you can follow this guide then you should be able to make your clients feel way more looked-after and appreciated. If you can implement changes now, then it should not be long before you start seeing great results, so keep this in mind and always be mindful of tracking your bottom line. This will help you to know if the money you are investing is benefitting you in the long run. It will also help you to really push your company to that next level in terms of profit and customer satisfaction.

Accepting What Is and Creating Your Future

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StrategyDriven Practices for Professionals Article |Creating your future|Accepting What Is and Creating Your FutureGiven all the unprecedented challenges businesses have been dealing with in the past two years, I support you and your organization in having a fantastic second half of 2022 instead of another six months of survival mode.

Given the Challenges such as rising fuel prices the supply chain, COVID-19, inflation and on and on, you ask, What the heck are you talking about? How can I have a fantastic second half with all that going on? Simply put, what if you and your organization chose to embrace the present and stopped resisting the past? I am inviting you not to resist what you are dealing with and simply engage in having a remarkable rest of the year.

An opportunity that I had during the pandemic is being able to see organizations and their various responses to the Pandemic. A case in point are three commercial Uniform laundry and delivery companies that reacted differently to the Pandemic. One thing about these companies, that even in a pandemic, people need their products delivered to their door. So, the plants ran, the trucks delivered, and the organizations functioned as best they could.

In the first example, the Leadership really took on COVID-19. This was led by the Owner/CEO. Even before the lockdown, they were researching and learning about COVID-19. Early on, when COVID-19 was just in Wuhan, one of their executives raised a flag of concern and the rest of the leadership group began to study what was happening. Once Lockdown occurred, they embraced the Pandemic. There was no denial or resistance. Of all the companies that I worked with, they were the most initiative-taking in securing a safe and functioning workplace. They took on having their company continue to run and deliver great service to their customers and to the greatest extent possible supply a safe, healthy work environment.

This company is in the middle of one of the largest American cities. COVID-19 was prevalent and surrounded them. Real time was spent communicating on Zoom and face to face. Real money was spent on air filtration systems. As knowledge was gathered on COVID-19, it was applied. The best ideas on how to social distance and use zones for bathroom coordination were studied and adopted.

There were challenges and definite hiccups. With that said, profitability improved. The scores from customers in their annual survey all were at their highest levels. Their sales force made their numbers, and they added several new accounts.

One thing that stood out is that the employees of this company were demonstrably appreciative of how the owner and the leaders went to every length to have a safe and healthy environment. The employees were appreciative of being able to work in a company that took on dealing with COVID-19 seriously and in the most initiative-taking and safest way possible. The leadership team supported employees as they dealt with their families and COVID. Even though some co-workers have left, retention has been high. Hiring has been challenging and workable. Interestingly, the frontline has remained stable.

The second example is of a company that was not as initiative-taking or fast moving as the first. They were dealing with COVID-19 circumstances and engaged. However, they were not as engaged as the first company. This company reacted to COVID-19. They did not embrace the challenge of COVID-19. There was resistance and confusion. They certainly muddled through.

This company is rurally found where COVID-19 was not as present. Money was not spent like in the first example. Communication did not happen, and the company got through COVID-19. Deliveries were always made, and the plant continued.

They did lose some customers, retention slipped, and sales decreased. Profits declined and the Sales Department had a tough time connecting with prospects and did not make its numbers. There was also higher than normal turnover. Given all that was going on, they did ok.

The third Company example is in an urban setting with COVID-19 present everywhere. They were not set up prior to the pandemic to work remotely and they struggled to get that set up. They struggled to get social distancing working, the offices safe and worked with protocols. There was resistance to dealing with COVID-19 and changing things. All the communication issues that were present before COVID-19 now occurred on steroids.

This company was hit by COVID-19 with many of the office staff getting it at the same time. I remember talking with one of the leadership group members from the hospital before he was put on a ventilator. The way COVID-19 ripped through the plant nearly prevented them from getting the trucks out and delivering. A competitor was called to see if they could cover for them and manage their deliveries.

Leadership tended to work at home and stay away. There was a big communication issue that occurred among the leadership team where executives threatened to quit. The GM, because of disastrous communication and what happened with direct reports was fired. Another top leader did not vaccinate and because of the state regulations, moved his family to Texas where he would work remotely. The CEO/Owner, after a traumatic and challenging two years, sold this company to a competitor.

Can you find your company in one of these three examples? What can you learn and apply from the above? I am supporting you in learning from the past, being present to right now, and complete with what has occurred.
The third quarter and beyond of 2022 is unwritten. However, the story of 2021 is written. It happened. Yet is it accepted and what does it mean to be accepted? Is the pandemic accepted? Is inflation accepted?
For many I say not. For many it seems as something wrong has happened, pandemic wrong, inflation wrong, fuel prices rising wrong. The incompletion and resistance as to what has happened before has you ensnarled… shackling you with a lack of freedom and power.

The rest of this year is unwritten. Every day is unwritten. While I can theoretically understand this, it is hard to live. What is it like to live your circumstances newly and to bring possibility to them? To hold them up to inspect, to look at them from a different frame, a unique perspective. What allows you to do that? Where does acceptance fit in? Where does creating and embracing fit in?
What if it is always possible to be engaged in a positive way? What if it is always positive to create anew if you are not resisting what is happening? Carl Jung said, “What you resist persists”. I find this idea to be useful in helping me see where I am stuck.

Part of resistance is a notion that whatever is happening should not be. Resistance, rather than embracing what is, gets in the way of acceptance and again, for me, stops any notion of being free to take new creative actions.

From the examples that I have presented of the three organizations and their differing responses to COVID-19 and other challenges, I think the power of choosing and embracing what you are dealing with is clear. You can see how resistance and just muddling through can be disempowering and produces subpar results.

Choosing it the way it is, is an action that allows for being present and for new possibilities. Then acceptance allows for lessons from the past to be learned, the past to be in the past and for new actions to be taken. I am complete with COVID-19 and the many challenges of the last two years. I am choosing to embrace the rest of 2022 exactly the way it is. From here, I am engaged in having a fantastic year.

I invite you to do the same from that place of acceptance and choosing to engage in having a fantastic rest of the year. I ask that you get your organizations to be accepting of whatever happened over the last two years, and from there create a powerful future to live into. Let us know how it goes and what you and your organizations are creating.

About the Author
StrategyDriven Expert Contributor | Bruce HodesBruce Hodes, President and Founder of CMI, is dedicated to helping companies grow. The focus of his work is developing work teams, business leaders and executives into powerful performers. Bruce has an MBA from Northwestern University and a Master’s Degree in Clinical Social Work.