A few weeks back I was giving a coaching session and was baffled to hear that the individual I was talking to had joined a web programming online course so he would have the technical skills to begin an online business.I ended up the call very frustrated.Technical skills are not vital for starting an online business. The main mistake many people do when beginning online is to believe that they need first to know how to code.Somebody is thinking of beginning an online business and… join a programming or web engineer online course.Do you see any logic here?!I now understand why web-programming courses have been flourishing the last few years on the Internet!With individuals intrigued by the opportunity that lies in having an online business, they mistakenly believe that by gaining the technical knowledge they will be able to start an online business.You can be the best online software engineer in the world and still struggle in being a successful digital entrepreneur.I get it – without a site, you can’t go far on the web.The uplifting news is that whether you want to blog or sell products online, you can have a website without having to type a single line of code.I am thinking obviously at WordPress, my favourite website builder platform.But Wix is also another great alternative for any individual who needs an online presence.Don’t let a lack of technical skills alarm you The Internet is always changing, which implies that it offers opportunities for any individual who has something valuable to offer.If you’ve ever considered starting a business, I strongly recommend going online.The Internet offers you the possibility to create a fully automated online business that will give you a passive income and flexibility in your life. You will be able to work anywhere in the world as long as you have a computer and an Internet connection.I like to call it ‘living a digital lifestyle’.Give value to your customers first The Internet tracker, Internet Live Stats, estimates the number of websites live to near one billion.With thousands of websites created everyday, it is fundamental to know how to advertise your business effectively.95% of your work in growing an online business should to be centered on how to give value – and not on learning technical skills.When an online business goes down, it is not a result of technical issues but rather the fact that the owner didn’t bring genuine value to its audience.Many people start online on their own and give up from frustration. Don’t be this one.You might have tried before and have realized that promoting a business online is no easy task.Perhaps you have focused too much on the technical side and lost track on growing the business instead. Or you didn’t know how to bring value to your customers.For sure it requires significant investment to figure out how to give genuine value to the people you want to target, but once you found the right formula, you will see your online business flourish without having you to work harder for it!
How to Boost Your Business With the Right Kind of Digital Marketing
The scenario in business and marketing has undergone a remarkable amount of change over the years. Nowadays digital marketing has become a prominent feature of business development plans of all businesses. To make your online presence effective in your targeted market or globally, there are full suites of marketing services. For increasing revenue generation, enhancement of your online brand identity and to boost your market share, planning and formulating digital marketing techniques is the very first step. The digital marketing strategies should be planned in such a way, that they assist in driving impressive customer engagement and establish outstanding brand loyalty. The digital marketing services you are using should not only draw massive potential traffic to your website but should also have the capacity to convert the online visitors into prospects and customers. It should also focus on online marketing of your product. Social media can be used as a medium to create great hype for your product. Viral marketing and mobile marketing can be of immense help in circulating your business story. The digital platforms can be used for effective promotion, advertising and sales.Online MarketingOnline marketing or digital marketing is a process in which you can promote your business and website through internet-connected services. Social media, search engine optimization, email marketing, search engine marketing, mobile advertising and online advertising are the discipline which helps you in promoting your business.Among these, Facebook is the most popular medium and it directly connects you to maximum number of people and helps you to reach any specific market easily. However, while opting for digital marketing services you should always keep in mind that Facebook advertises should be targeted to your exact audience. It is also important to create and manage a functional Facebook page according to your business requirements.Professional SEO services are very important to promote your business as they trigger the ranking of your website and help you get organic results for a set of specific keywords that your target audiences search on different search engines. Thus, the overall traffic of your website will get uplifted and you will have maximum online visibility.The social media optimization services are also there to help your brand grab the attention of the target audience. By creating a profile page in the most popular social media sites like LinkedIn, Google+, Twitter, and Facebook, you will get attention of those who are interested in your product or services.While opting for SEO services, check whether they are ethical or not. SEO helps you in connecting with your target audience and enhances the popularity of your brand. It helps you in getting acquainted with new markets and popularize your brand globally. However, this cannot be possible without ethical SEO techniques and standard web practices. Thus, it is very important to have a thorough knowledge of online marketing and its disciplines before taking help of a digital marketing agency.
Business Capital Solutions In Canada: Accessing Proper Cash Flow & Commercial Financing
Business capital requirements in Canada often boil down to some basic truths the business owner/financial mgr/entrepreneur needs to address when it comes to financing for businesses.
One of those truths? Knowing the true state of their financial condition and what financing they do and don’t qualify for when it comes to meeting commercial lending requirements in Canadian business.
Business Loans In Canada
Whether you are smaller or start-up firm looking for information on how to get a business loan or a larger established firm looking for growth financing or acquisition opportunities we’re highlighting 3 mistakes that commercial loan seekers like your company need to avoid making when addressing, sourcing and negotiating your cash flow / working capital and commercial financing needs.
1. Understand the true condition of your company finances – These are almost always successful addressed when you spend time on your financials and understand how your financial statements reflect your access to commercial loans & business credit in general
2. Ensure you have a plan in place for sales growth and financial needs as it relates to commercial financing
3. Understand that actual hard facts about cash flow which is, of course, the lifeblood of your company
Can you honestly answer or feel positive about all those 3 points. If so, pass Go and collect $ 100.00!
A good way to address your company’s finance plans is to ensure you understand growth finance solutions, as well as how to manage in a downturn – i.e. not growing, losing money, etc; It’s never fun to fund yourself in an economic or industry downturn such as the COVID pandemic of 2020!
When we talk to clients of new or established businesses it seems they are almost always talking about sales, so the ability to understand and focus on the differences in their profits and cash fluctuations is key.
How do cash flow and sales plans and projections affect the type of financing you require? For one thing sales growth usually starts out by consuming your cash, not generating it. A poor finance plan will drag your business down and addressing financing simply gets tougher and tougher.
Three basics always emerge when it comes to your search for the right business capital and financing.
1. The amount of financing you need
2. The type of financing (debt/cash flow/asset monetization) The business loan interest rate will be dramatically affected by whether you choose traditional or alternative financing solutions. Private business loans in Canada come from non regulated commercial finance companies most often known as ‘ alternative lenders ‘. These lenders are typically highly specialized in one ‘ niche ‘ of business financing and may be Canadian firms or branches of U.S. banks and non-bank lenders
3. How the financing is structured to be manageable with your day to day operations
What Finance Company In Canada Can Meet Your Borrowing Needs & Why Is Capital Important In Business
Let’s identify and break down key financings your firm should know about and understand if they are applicable and achievable to your business. They include:
A/R Financing / Factoring / Confidential Receivable Finance
Inventory finance / floor planning / retail inventory
Working Capital term loans
Unsecured cash flow loans
Merchant working capital loans/advances – these loans are geared toward short term cash needs and are typically one year in duration. Loan amounts are typically 15-20% of your annual sales revenues.
Royalty finance
Asset based non bank business lines of credit
Tax credit financing (SR&ED bridge loans)
Equipment Leasing / Sale leasebacks – Equipment financing in Canada is used by almost 80% of all companies looking to acquire new, and used, assets.
Govt Guaranteed Small Business Loan program – Government Loans in Canada are sometimes referred to as ‘ SBL’, aka Note: BDC Finance solutions are available from this Canadian non-bricks and morter crown corporation. A small business loan via the government-guaranteed loan program comes with true flexibility around term loan duration, market rates, no pre payment penalties, and of course the low personal guarantee that is required by borrowers. These two ‘ government ‘ loan solutions are often perfect for financing a new business.
If you’re focused on not making mistakes in your business finance needs and want to capitalize on the solutions your competitors are probably already using seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your cash flow and commercial financing needs.
Stan has had a successful career with some of the world’s largest and most successful corporations.
His employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) In 2004 Stan founded 7 PARK AVENUE FINANCIAL – He is an expert in Canadian Business Financing.