Connect with us

Finance

Find Out the Things to Consider Before Applying for a Credit Card

Avatar Of Rajesh Khanna

Published

on

If you are thinking that you can easily apply for a credit card without any considerations and foresight, then you need to think again. There are many applicants who believe that there is no harm in applying for this bank card. But, before you apply for such plastic money it is important for you to consider few essential things to avoid hassles later.

It Affects Your Credit

Many people simply apply for these cards without knowing the fact that it may impact their credit rating or credit score. If you have this type of bank card then you might be aware that it shows up on your credit report as “Credit Inquiry”. Although, one or two inquiries in credit report won’t really impact the rating, but multiple inquires in short span of time may greatly bring down your score. According to experts, if a person has multiple inquires in their report then their credit score tends to fall down by 10-20 percent, depending upon their previous credit history. So, if you are on borderline of bad vs. good credit, then applying for these bank cards may not be fruitful for you as it may greatly impact your score.

Applying for Credit Card Might Cost You

It is very important for applicants to do their homework appropriately before applying for these plastic money or else they may end up paying money for the same. For instance, if the processing fee of cards is 99 dollars and annual maintenance charge is 50 dollars then it is a great loss for you if you get accepted for such cards because you already incurred debt of 150 dollars without even purchasing anything.

Avoid Applying Online

There are many applicants who often make the mistake of applying online for such cards. It is true that while applying for such cards online you need to share your personal information and it could be risky at times. Some hackers may misuse your personal information for their gain. However, the chance of hacking is very less with the websites of reputed company. So, if you want to avoid such hassles then it is always better to apply offline, rather than applying online to save time and energy. The reputed companies also have phone numbers so that applicants can call them to apply over the phone.

Shop Around Before Applying

It is very important for applicants to shop around before applying for such cards to ensure that they are getting the best deal possible. There are some reputed banks that offer special rewards for opening an account, while some also offer zero percent introductory interest rates. So, before applying you must check for such deals to enjoy maximum benefits.

Remember, applying for this plastic money is similar to applying for loans, so some thought should be given before moving ahead with the application. You must consider all these essential things before applying for a credit card.

Advertisement

Finance

How to Identify Your Small Business Differentiator and Why

Avatar Of Rajesh Khanna

Published

on

When you are the owner of a small business, there are times when the scale of bigger companies can overwhelm you. At these times, you may wonder what you have that will make potential customers pick your brand over another. This particular factor is a business differentiator, and it helps consumers in the market identify you and set you apart from other brands.

Differentiating your company from the rest is an integral part in developing a brand, and it’s become even more difficult in recent years since it’s not merely enough to be just better than others; you need to be different. You may not have realized it yet, but being a small business is a differentiator on its own, you need to leverage it and market it enough. Here’s how you can identify your small business’ differentiators.

Analyze Your Competition

Finding your differentiators starts by learning what makes your competitors different. You need to maintain a neutral position and evaluate your competitor to know what their strengths and weaknesses are. What do they offer? What do they do better than you? How do they treat their customers?

Once you answer these questions, you discover their weak and strong points, as well as your own. At this point, you can decide whether you want to change the direction of your business to make it better than your competitors or market an aspect of your brand that’s already there.

Be Familiar with the Customer Experience

A benefit of being a small business owner is personally having experienced the life of an average consumer. By knowing the shortcomings of a large-scale company customer experience, you know what to develop in your own company. However, when working on differentiators, it’s time to start by scratch so you should map the various aspects of being a customer. What do they value? What dissuades them from buying?

You need to work on ways to build a consumer’s awareness of a need that your company can fulfill. It’s only after a consumer realizes that they need something that they will look towards brands that can provide them with a solution. You need to assess how your target demographic makes buying decisions, and whether your brand aligns with that thought process or not.

The wrong approach is to focus solely on your product because that’s not what customers emphasize on when buying a product. The best way is to address different aspects of the customer experience and develop all of them.

Know Your Strengths

The first and foremost strength of being a small business is giving customers the attention they need. Since you’re not managing branches everywhere, you can afford to look after a minimal customer base.

Other than that, each business has its strengths when compared to other brands. It could be your amazing marketing, your customer loyalty programs, or your approach to customer service. Also, a small business operates on values, so they understand the needs and requirements of the average person.

Get Involved in the Community

The community you operate in should be your focus when expanding your reach. By making an impact on your community, your brand automatically earns a reputation among the other brands in the area. The people in your district will be in favor of supporting your brand since it will have a positive influence on their community.

The Importance of Having Differentiators

It’s true that ever brand needs differentiators that give them a competitive edge for business rivals, but your brand needs it more as a small business. That’s because large companies can already offer better prices due to cheaper manufacturing practices and access to raw materials at lower costs.

Hence, having a fixed market differentiator will help consumers pick your brand despite the difference between what you and larger brands can offer. However, having a differentiator isn’t only necessary for setting your brand apart from the rest. By knowing what you can do better than other companies can, you’ll have a clear view of what you should focus on when planning a marketing campaign.

A well-planned and targeted marketing effort will help you retain customers and increase your rates of promotion among people outside your community. Without a strong differentiator, you won’t be able to compete with others head-on.

At the same time, you need to uphold the values of honesty and transparency by refraining from overloading your brand profile. By attesting to being better than competitors at ‘everything,’ you risk losing precious customers. That’s why; you need to test all of your differentiators to see if they’re true, provable and relevant.

Only market things about your brands that you believe to be true, and to gain the audience’s trust, you have to prove it; whether through ‘look inside our workshop’ schemes or quality tests. Lastly, your differentiators need to be relevant. Customers won’t consider an aspect of your brand that they don’t care about or if it doesn’t benefit them. To conclude, you need to reflect upon your band’s personality and find something about your small business that differentiates it from the rest.

Continue Reading

Finance

What’s Possible With Ebooks?

Avatar Of Rajesh Khanna

Published

on

Did you know that your first ebook is a springboard for many different products? That’s why almost every business owner is considering creating not just one ebook but several ebooks. The sooner you get started on your first ebook, the easier your second is to finish.

There are dozens of ebook spinoffs that all can contribute to generating additional revenue for your business. SOme of them are listed in this article. Your ebook can give you the content for 3 to 5 minute podcasts on your topic. It can be the source of inspiration for at least 100 different articles that are posted in article directories that drive traffic back to your site and drive people to buy your product line. It can be the source of content for a speaking engagement in front of a local club or organization, grade schools, high schools, or colleges and corporations.

Your ebook can be the source of info that is spun off into a child’s book or a book suitable for teens. If your ebook is a how-to-type of manual or scientific, it could be used as a foundation for the background knowledge needed to create a screenplay about a story relating to the topic.

Your ebook can be read into a microphone which is then recorded and burned onto a CD. It could be used with video footage and photos/text to create a DVD. You could then take bits of it and use it as a marketing device on YouTube.

Are you starting to see that creating ebooks is really an excellent way to boost your business and business presence? Your ebook could be broken into segments and used as individual articles that are given away as free reports. The individual articles could also be used to send to newspapers and magazines that are looking for filler information for their pages.

Some of these articles could be combined together in a little bundle, which makes them an attractive feature when you sell other products.

Parts of your ebook, such as interesting quotes and textboxes, can be used in some of your flyers and brochures. The table of contents can be used on your website to entice people to buy individual chapters if they don’t want to buy the whole ebook.

Your ebook can be given away as an incentive or sold for profit.

With all these possibilities, is there really any reason NOT to write your first ebook? I can show you how to do it with the least amount of stress.

Continue Reading

Finance

Understanding Miranda

Avatar Of Rajesh Khanna

Published

on

Most people, who are not criminal defense attorneys, believe that if the police do not inform them of their Miranda warnings when they are arrested, the case will be dismissed on a technicality. This is not the case.

Commonly known as Miranda warnings, these are warnings that many people associate when a person is arrested by the police. People are quite familiar with numerous television shows where the police arrest a suspect and proceed to inform them of their rights. The rights are as follows:

1) You have the right to remain silent;
2) Anything you say can be used against you in a court of law;
3) You have the right to consult with a lawyer and have the lawyer present during questioning;
4) If you cannot afford a lawyer, one will be appointed if you so desire;

Police officers are not required to inform people of their Miranda rights when they question an individual. Miranda warnings are required in very specific situations. A person must be in custody of the police. Custody is not necessarily defined as being in jail or handcuffed. A person can be in custody on a street, in his home, or in a parking lot if the person is deprived of his freedom in a significant way. The other requirement is that the police are questioning the person. Without these two requirements, Miranda is not required.

If a person is in custody and Miranda warnings were not provided, any statements pursuant to the questioning will be barred from being used at trial. In addition, any evidence obtained as a result of the inadmissible statement may also be suppressed. The suppression of that evidence falls under the doctrine of the “Fruit of the Poisonous Tree”.

The attorneys at Dupage County DUI state that it is best to respectfully decline to answer any questions without an attorney present. Typically, individuals in custody are unsure as to what knowledge the police have and attempt to outsmart the police. Suspects frequently reveal information that can later be used as evidence of their guilt. The advice I give all clients is refuse to answer any questions and obtain an attorney. If the client wishes, he can always answer questions at a later time.

Continue Reading

Finance

Building Customer Loyalty

Avatar Of Rajesh Khanna

Published

on

The following tips can apply to virtually any profession or industry. If you think that these are self-evident, then I challenge you to take a personal assessment. Print this page and keep the list on your desk for one week. Place a checkmark next to each item when you conduct an activity that fulfills one of these objectives. Can you check all of these items in one week? Are you actively practicing the commitment that you desire from your customers?

If you want loyalty, you have to give it

Makes a list of your most important customers or clients. For your general customers or clients, demonstrate your commitment in general terms and especially when they need you. For the most important customers, demonstrate your commitment and let them know how much you appreciate them. Sometimes loyalty takes sacrifice.

Communicate

Building a lasting relationship requires communication. Communication means listening to your customer or client, as well as conveying your own message. One sided communication is a speech, mutual communication is a conversation. Communicate when things are going well and when there are problems. When things are going as expected, bring it to their attention. When there are problems, provide the scope of the challenge and your solutions, preferably before the customer even knows that the problems exists. This builds credibility, confidence and trust.

Understand Your Customer’s Goals

The products or services that you provide are only meaningful in the context of your customer’s objectives. What you do is intended achieve financial or strategic objectives, or fulfill a need. Understand and communicate your value from the perspective of the customer. Be aware of changes that may affect the customer requirements and your perceived value so you can adjust accordingly.

Be Consistent

One of the best ways to manage expectations is to be consistent. Be consistent with your quality, your responsiveness and delivery of goods or services. Establish a routine schedule for communication with your most important customers, so you can call “just to talk” and check the pulse of the relationship.

Build Credibility

There are two easy ways to build credibility. First, do what you say you are going to do. If you leave a message to call back or make a commitment for follow-up, then call when you said you would call. Even if you do not have all the answers, call when you commit to call back. The second way to build credibility is to take time to get the best answer. Sometimes you may not know the best response to a situation or request. Ask for time to research and come back with the most accurate answer or information that you can obtain. Taking time for accuracy can be far more beneficial to your customer than a quickly but incorrect reply.

Cracker Jack Surprise

Give your customers something more than expected. Don’t tell them in advance, just do something to demonstrate your appreciation. It can be as simple as a greeting card, email or small token to show your appreciation. Loyalty is a relationship, and it should be nurtured as you would care for a friend. Do not take it for granted.

______________________________________________________

Words of Wisdom

“An ounce of loyalty is worth a pound of cleverness.”

– Elbert Hubbard

“Unless commitment is made, there are only promises and hopes… but no plans.”

– Peter Drucker

“The quality of a person’s life is in direct proportion to their commitment to excellence, regardless of their chosen field of endeavor.”

– Vince Lombardi

______________________________________________________

Continue Reading

Finance

10 Clarifications On Japanese 5 S House Keeping Model – Implement In Digital Marketing Leadership

Avatar Of Rajesh Khanna

Published

on

I was unable to bear to pass up a major opportunity on these subtleties of preparing in Digital Marketing due to the seasons for outstanding security in the unstable Internet and Digital Age where we have digital assaults, specific software engineers and different sources who may take in our clients, customers and our very own data.

Before I plunge into the 5-S House- Keeping Model that is actualized by the Japanese in their own and business world, I felt the lack of need to specify the Japanese Educational System in a nutshell which I could list in shots as follows:

• It is intriguing to take note of that the degree of Japanese Education is higher even contrasted with the world guidelines.

• Learning Mathematics in Japan in Schools is treated as learning a language and that synchronizes with Galileo Galilei explanation “Mathematics and Science is the language of the universe”.

• Their System of Education accentuates Morals, Manners and Etiquette before information and until the age of 10, the Japanese students have no concerns of composing tests.

• The Japanese students are prepared to regard individuals, soak up liberality and be delicate to all living beings and living creatures as well.

• Most Japanese schools have no janitors or caretakers. The students are collaborated on rotation premise and prepared to clean, clear and wipe the homerooms, the school premise and the entire yard. They get familiar with the specialty of collaboration and participation first before they get familiar with any subjects.

• Most Japanese schools have normalized menu for lunch and is given by the school to fabricate a family climate.

• After school, youngsters go to different workshops, for example, calligraphy, verse, writing, science, etc.

• Nearly all students must wear uniform similarly as it is standard in the Middle East and India.

• Similarly, as in India, the understudies show profound regard for their educators and bow down with a welcome.

• There is an extraordinary compatibility among educators and students, and the instructor welcome each student with a generous smile daily, calling their names, visually connecting, benevolent non-verbal hello there five or a handshake with a couple of uplifting statements.

What I induce from this is that we also all in all could follow this glow of conduct and treat our guests, customers, clients with sympathy and show successful authority.

The Five (5)- S Housekeeping Model continuing in business merits actualizing in our Digital Marketing Leadership as well, to have a repetitive client, to fabricate trust, devotion and security with them, along these lines achieve manufacture our dependable image.

5-S Housekeeping Model can be clarified as follows:

1. SEIRI: It alludes to figuring out the unncecesary things in the working environment and disposing of these. Just the required things ought to be held at work environment, sitting spot or at home.

2. SEISO: It alludes to cleaning our working environment completely so that there is no residue on the floor machines, or hardware. This way our working environment, sitting spot or living spot, remain dust free and should be sparkling clean

3. SEIKETSU: It alludes to preparing our kin in the work spots, workplaces and living spots (homes) to follow great house-keeping. This is conceivable through an ability to be self-aware order among the people.

4. SEITON: It alludes to masterminding everything vital in a decent request so that these can be effortlessly gotten for use. As Benjamin Franklin expresses “A spot for everything, everything in its place.”

5. SHITSUKE: It alludes to keeping up elevated expectations of housekeeping at your work places, sitting spots or homes via preparing individuals to follow great housekeeping discipline self-autonomy

We could apply similar standards and methodologies in our Digital Marketing and have similar planning while at the same time fabricating our site as far as security, protection, wellbeing and keep up an incredible expert connection with our clients, customers, guests, etc with empathic correspondence all through the excursion toward independence from the rat race and even continue reliably even after that.

Continue Reading

Finance

Accounting Solutions for Business by Choosing Payroll Apps

Avatar Of Rajesh Khanna

Published

on

The application should be easy to setup. This entails having the instructions for initial installation as well as for any upgrades that are done for security purpose. Support that may be required during installation or during the operation of the application should be provided by the vendor. This may range from online support to telephone inquiries. Ease of use should be evinced from the interactive interface that has icons drawn to denote the work it does.

Integration is another feature that makes the payroll accounting solutions an essential for business. Contact information can be drawn from the employee record system, bank accounts can be integrated for depositing salary (or wage) to the account of the employee based on the total working hours and any impending vacancies can be known beforehand. The working hours, meanwhile is also calculated by assessing the entry and exit time as entered by employees themselves. Management has to input the provisions regarding the employees like holiday, leave and insurance provisions. Calculations from the raw data is done by the application itself. The effort that the management puts into payroll calculation can be seen to have been drastically reduced.

Year-end filing for tax purposes is also done by the application once the rates affecting the business is input by the management. Various contributions by the employer as well as the deductions from the account of the employees. Social security tax, federal unemployment tax, state unemployment insurance etc. The rates change annually and therefore the app should update the rates so that compliance to the law is made. Further, a business may have branches in different states with their own rates which should be accounted by the app.

Reminders are another features that prompts the management to make the payment. Moreover, the application can automatically transfer the funds to the state account on time relieving the management of the extra effort required for that end. Newly hired personnel should also be reported to government.

Payroll apps should also have provision for 1099 contract worker so that employees and consultant are differentiated. This avoids the business getting into payroll fraud. While internal control measures should be installed by the management, it should be complemented by the app.

The raw data as well as the processed data should be encrypted with the best possible means ensuring protection from unwanted intrusion. Online backup of the data ensures that natural calamities would not hamper the data.

Continue Reading

Trending