What to Consider Before Putting up a Tech Business

What to Consider Before Putting up a Tech Business

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A tech company has the potential to change the way people do things and benefit the world. Zoom, for instance, is an enterprise video communications tool that experienced massive success during the coronavirus pandemic. It has enabled employees to conduct meetings and brainstorming sessions in the comfort of their homes.

If you’re interested in creating a startup and becoming the next Zoom, Facebook, or Google, know that achieving success won’t be a walk in the park. Data from Small Business Trends reveal that only 56 percent of small businesses survive their fifth year. The rest fail because of not having the right team, poor marketing, and pricing issues, among others.

The good news is that the tech market has plenty of room for innovative ideas and technologies. What’s more, you don’t have to be a tech geek, like Bill Gates or Mark Zuckerberg, to produce something valuable and exciting. With the right plans and wise choices, you’ll have a shot in running a successful tech-based biz.

Here are six things you need to know when establishing a tech startup:

1.  Survey The Landscape

The tech industry has different kinds of businesses. Your goal is to find out who your direct competitors are, check what they offer, and uncover the gaps that your startup can fill.

2.  Try to Improve Previous Tech Products or Services

When you launch a tech business, you don’t have to necessarily come up with something brand new. You could check what’s on the market and make it better. If you’re looking to create a chat bot platform, for instance, you don’t merely copy the features of an app and then market it to YouTubers. Develop an app or software that addresses the need or pain points of your target market.

3.  Secure Funding For Your Tech Idea

You need seed money to turn your brilliant tech idea into reality. Think about sources where you obtain your startup fund. Besides borrowing money from friends and family, you could get a loan, start a Kickstarter campaign, and seek out angel investors.

When funding your business, you don’t necessarily need to borrow huge sums of cash to get the ball rolling. Approximately 33 percent of small businesses start with capital below $5,000.

4.  Come Up With A Solid Business Plan

A business plan provides you the basic outline of what your tech startup will look like, how much funding you’ll need to develop your app, who your team will be, and how you’ll make company decisions. You can refer to this document should things start to turn south.

You’ll also need this document when you pitch your idea to investors. A business plan shows that you’re committed to building your tech startup.

5.  Evaluate Your Skills

Starting a tech business isn’t all about knowing how to code or develop a user-friendly platform. You also need business and leadership skills. If you’re not confident about the idea of managing a business, you could take up relevant online courses on websites like Udemy and Coursera.

Alternatively, you could enroll in a community college near your area and learn much-needed business skills, such as digital marketing and accounting. If you’re establishing a tech startup, you’ll likely fill nearly every position in your organization initially.

6.  Look For A Mentor

You don’t have to take your entrepreneurship journey by yourself. Get a mentor to help you navigate the difficulties of launching a tech startup venture. This person has to be well-versed with the ins and outs of the tech industry. A mentor should also be someone willing to offer you sound business advice.

A mentor can be just about anyone. This individual could a successful local business owner you admire, a university professor who is an expert at programming, or a consultant with extensive experience in the software development industry.

If you’re unsure where to find a reliable mentor, attend tech conventions or trade shows and get to know individuals who are running a business related to your startup. Once you establish a connection, ask if they’re willing to take on the role of a mentor.

Note that not everyone you meet is open to the idea — and that’s okay. Your goal should be to find a mentor who sees great potential in your skills or idea and genuinely wants to see you succeed. Just keep on asking people until you find the right one for you.

Consider these six things before tackling the challenges of building a tech startup company. If you have an amazing idea that could potentially change the world for the better, get your business in order first and then use everything you’ve learned to create that life-changing app, platform, or software.

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Insuring Engagement And Wedding Rings: Things You Need To Know

Insuring Engagement And Wedding Rings: Things You Need To Know

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A wedding is one of the most important and memorable milestones in one’s life. For a lot of people, getting married to the most important person in their lives is one of the best things they could ever wish for in life, more than fame and fortune.

Most couples spend thousands of dollars on engagement and wedding rings. The typical engagement ring costs about $5,900 and above. Add in the wedding bands and the $1,500 jewelry coverage from most standard homeowners’ insurance just won’t cut it.

Even if you see the best USAA, Farmers, or Kin customer reviews and how excellent their policies and riders are, when it comes to wedding bands and engagement rings, you need to get special insurance to protect not just its financial value but its sentimental value as well.

Insuring Wedding Rings: Things To Look For

Like in any contract or transaction, the fine print always matters. When it comes to looking for the right policy provider, make sure to consider the following before making a final decision.

Coverage

In most cases, riders or floaters for standard homeowners’ insurance only cover fire and theft. There are a lot of other options that provide a wider range of coverage including accidents and loss. Be sure to ask insurance providers what the extent of their coverage is and if any other notable circumstances can be included in the policy you’re getting.

Replacement

Ask the policy provider how they go about replacements. Are you the one who will look for your wedding band replacements from certain jewelers or will they be the ones to do the work for you? Will they allow you to choose a check as compensation? How about partial loss or repairs? Will they cover it as well?

You need to make sure that you evaluate and clearly understand the replacement policy against your sentimental and financial concerns.

Value Assessment

As far as the assessment of your ring’s value is concerned, ask the provider how they plan to go about with its endorsement? Will they only consider the original purchase price or will they go with the current appraisal value of the item?

Documentation Requirements

For you to make the claim process easier, you need to prepare the necessary documents somewhere safe but easily accessible. Ask the policy provider what documents are needed for filing a claim. Typically, these include the paperwork that shows proof of ownership such as receipts, updated appraisals, and photos.

Get Them Appraised

Speaking of appraisals, you need to have your engagement ring and wedding bands appraised because insurers require them before processing any supplemental insurance coverage. You may have them appraised at the store where you bought them from or go to an independent appraiser.

Check out the appraisers’ directory from the American Gem Society to help you find one near you.

Considering how much engagement and wedding rings cost, insuring them is a prudent and wise move. Make sure to comb through the fine print of different policies to help you make a well-informed decision and that you end up with the best policy that suits your needs.

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Practice Minimalism to Simplify—and Boost—Your Financial Life

Practice Minimalism to Simplify—and Boost—Your Financial Life

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Minimalism isn’t just about a tiny house, capsule wardrobe, or Marie Kondo. It can even mean different things to different people. But at its core, minimalism is about “less is more.” In personal finance, it doesn’t mean you stop spending money. Instead, eliminate distractions. This way, you can create more opportunities to spend on things that matter-and shift your mindset from making money to enjoying life.

1.  Declutter & Organize Finances Better

Clutter is the enemy of minimalists for various reasons. It creates visual and mental chaos, and having too much stuff means you have spent money on things you rarely use or need. Even if you don’t switch to a thoroughly minimalist lifestyle, it’s good practice to declutter regularly. You can earn extra income and keep your living space organized by merely selling old clothing, shoes, and household items.

Decluttering may also mean consolidating your bank accounts into a single savings account and one checking account. You can then simplify your banking and track your finances better. If it’s possible, cut back to one credit card. Choose one that offers the best rewards and interest rates. It will be easier to manage your monthly spending and handle payments with one credit card than having five or ten.

2.  Adopt The One-In , One-Out Rule

This rule of minimalism is simple: every time you buy something, you have to get rid of another thing you already have in the same category. Say, you want to buy a new belt, you have to let one of your old belts go. That is easy when you haven’t decluttered, but once you’ve pared down, it can be a harder decision. In a way, this helps you be mindful of every purchase and break the habit of impulse buying. Plus, with a formed habit of buying what you only need, you can free up money to invest and secure your future.

3.  Go For Multi Purpose Investments

To do more with less, minimalists often focus on items that serve multiple functions. Instead of merely buying a new wooden bed frame, they will look for one with built-in storage. You can take the same approach not only on your new purchases but also on investments. For instance, get a life insurance policy that comes with investment plans. You can cash in the investment to enjoy your retirement years. And with life insurance, your family’s financial future will be secured after your death.

4.  Value Experiences Over Material Things

The coronavirus pandemic has probably shown you what’s essential and what’s not. Build on that by looking at shopping as something you need, not something you do as a hobby or therapy. Many minimalists emphasize that acquiring less allows you to free up more time and money to create experiences. With or without pandemic, spending time with your loved ones should always come first.

Whether in fashion, home design, or personal finance, minimalism is about discovering what we need. By living with less, we have more room in our lives for things, experiences, or people who truly matter.

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For Small Businesses: Survival in the Long Term

For Small Businesses: Survival in the Long Term

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These are 51 high paying work from home jobs! Perfect for moms, dads, students, part-time teachers...anybody. These jobs are legitimate, non-phone, and include data entry, transcription, editing, writing, and more. Click now to find your perfect work from home job! #workfromhome #jobs #onlinejobs

The cornonavirus outbreak has had devastating effects on the economy. Lockdowns and quarantines have frozen manufacturing and trade. And although there are a few industries that have found this time to be uniquely advantageous, most others have suffered blows to their operations and sales.

If your business is part of this majority, there are still some things you can do to ensure that you’ll make it through and maybe come out stronger on the other end of this ordeal.

1.  Put People First

The first and most affected victims of this pandemic are not businesses but people. Having this in mind, you should make decisions that consider people first.

Particularly, your people. Your employees make up the backbone of your business. Neglecting their needs during this time can cause worse outcomes than losing sales. Of the many important lessons this outbreak is teaching the world, one is making people realize how much they depend on one another. Your business needs your employees as much as you need them. Make it easier for everyone.

Implement safety measures that consider their well-being first. Let them work from home unless absolutely necessary. There are a lot of tools to help you transition and establish your remote work protocols – some of them are even free. Be resourceful and find solutions to make sure everyone is empowered to do the best they can. You may even find that this new work setting has its own list of benefits – increased morale, productivity, retention, savings, and more according to Entrepreneur.com.

Keep in mind, too, that your employees are with their families. Understand their situations and see what you can do for them.

After all this, your people will remember how much you’ve helped them, and they’ll return a kind of loyalty that cannot be bought.

2.  Ride The Quarantine Tide

There has been an understandably strong shift to e-commerce because of the coronavirus. In fact, according to Forbes, big names in the industry like Amazon and Alibaba are preparing for the increase of competition from individual websites that want to sell their products on their own platforms. You can be part of this wave, too.

If you haven’t yet, set up an online storefront and sell your products or showcase your services. Now that people are stuck at home, the appeal of a good deal is too much to pass up for those who have money and nowhere to spend it on. Well-made marketing tactics can turn the tide from barely surviving to thriving.

Add value to your products wherever you can and make sure your potential clients are made aware.

3.  Play The Long Game

No one really knows when the lockdowns will end. In the meantime, make sure you can survive the lean weeks, maybe months, ahead.

Save money. This is already difficult to do under normal circumstances, but it has become non-negotiable. You should figure out where you can cut costs without having too many negative impacts on operations.

Reinvest in your business. Use your small business profits to fuel your growth. Although the benefits are not readily felt, a sound investment can create ripples that may surprise you in the future.

It’s not the end of the world and it’s not the end of your business. Good luck.

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These are 51 high paying work from home jobs! Perfect for moms, dads, students, part-time teachers...anybody. These jobs are legitimate, non-phone, and include data entry, transcription, editing, writing, and more. Click now to find your perfect work from home job! #workfromhome #jobs #onlinejobs

Useful Tips on How To Adjust To Your New Home

Useful Tips on How To Adjust To Your New Home

It’s not enough that you sleep and eat at this new house or apartment. It has to feel like you, but adjusting to a new home may be a challenge for you since it’s a new environment. A different set of people will surround you. You’ll have to familiarize yourself with where things are and how they work in the new house. Here are some ways to feel comfortable and adjust to your new space:

1.  Unpack ASAP

The more you delay unpacking, the more clinical and alien the whole place will feel like. You’ll have empty walls and a bedroom without a personality.

Unpacking and arranging all your stuff will right away make you feel like it’s your home. It leads to organizing, which points out what things you need to buy from the store and what part of the house needs revamping.

Plus, the bags and boxes won’t have to eat up all the space in the living area to accumulate dust for months on end. In a way, unpacking is also decluttering the space, and less clutter means less stress.

2.  Personalize

Before you moved into that one house and lot in Cavite area that you liked so much, you might have already picked out the colors of the walls and the flooring materials you desire. You might have made some alterations to the interior design and floor plan. While these aspects of the house can reveal your character, making it feel more like your own home, you need to take personalization further.

Pictures, memorabilia, artwork, and other little things can be scattered around the house to show bits and pieces of who you are. If you like to travel, you can display souvenirs on coffee tables. If you love spending time with family and friends, you can put up a photo wall. If you’re into art, you can display your collection all over the walls.

3.  Welcome Friends & Family

It’s time to create new memories in a new home, and it’s better to do it with other people around. Part of the reason we hold on to things and places are the things we remember them by.

So have your family over on Sundays for lunch at your new dining table. You can bake cookies with your significant other in the kitchen. Have drinks with friends in the backyard. Maybe you can invite your new neighbors over after meeting them while walking around.

4.  Get Out Of The House

Exploring the new neighborhood will be not only fun but also essential. First, meeting the neighbors will be interesting as you’ll discover new people, their roles in the area, and make new friends. Second, you’ll have a chance to join a community as you will need support during the adjustment period. Third, you will familiarize yourself with the area. There might be a cool cafe or diner around the corner or an extremely convenient convenience store that could save your life.

The Takeaway

Change is necessary and inevitable, and adjusting to it is not always a smooth ride, but it’s how you deal with it that matters. It’s a new learning curve, and you’ll soon love being in your new home.

Best,

[a contributed post]

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