Facebook is one of the platforms used to market their business. In addition, Facebook is one of the few platforms in the world that allows you to reach people on almost every continent in the world. For that, you can promote your business in various ways. However, you need to pay attention to any actions in promoting your business on Facebook. This can sometimes have unwanted effects if done poorly. For that, here are tips that can be your record in promoting your business through Facebook.
Create a Facebook page for your business
Before you decide what kind of content you want on your business page, you need to build an online presence and let it know that you are open for business. You can do this by going to your Facebook profile, at the top select the ‘create’ page, ‘page’, name your business page and enter other details. With this, you can post content and interact with your viewers and followers about what they think of the content.
Make the most of Facebook Groups
Facebook allows people to form international communities based on their interests. Chances are, at least one of these interests aligns with the nature of your …
Resolutions are the most talked about thing, especially when entering the new year. But for your resolution to last from January onwards, you need self-control and dedication. For that, make sure you have a goal for each month. Setting goals each month will help you to be more detailed and maintain motivation and productivity. To that end, here are some guidelines for setting your goals for the coming year, as reported by Entrepreneur.
There’s nothing wrong with setting a higher goal, but make sure it’s achievable. Some high achievers also use high aspirations as inspiration. You can do the same with your own goals. Set goals that are within reach so you don’t lose motivation, causing your goals to slow down. You won’t be able to be successful overnight.
Breaking down your goals
By setting real goals and taking on your significant dreams, break them down into steps you can act on. This allows you to enter into the path of success.
Use the online calendar
Goal setting requires accountability. Some things will keep you accountable. For that, you can use an online calendar to organize your plans with deadlines and reminders to encourage you. You will also …
As good as a product or service that a company offers, of course it will be in vain if it is not balanced with the right marketing method. This is even more so for start-up companies or better known as startups. Budgets that tend to be tight, coupled with many competitors make startup companies have to be more creative in marketing their products. Well, related to that, as reported by Readwrite, here are a number of the latest marketing tips that you can try to apply to your business.
Create a referral program
A 2019 Forbes report said 78 percent of B2B marketers consider referral programs to have good prospects. Based on statistical data, customers acquired through referrals had a 37 percent higher retention rate, with a 16 percent jump in profits. An example of the success of this referral program can be seen in the sportswear company Girlfriend Collective. In an already crowded market, he made one of the free leggings their main investment. As a result, their name spread quickly and the Girlfriend Collective started getting around 10,000 orders a day.
Marketing with video
According to statistics released by Renderforest, 78 percent of companies get more traffic when …
In building a career, skills are sometimes important, especially in the face of technological developments. Technological developments can threaten jobs so that sometimes the skills we have can be stored for a shorter period of time. In addition, according to the World Economic Forum, 50 percent of all employees will need a skills upgrade by 2025. This is necessary in order to remain relevant in their work roles amid large-scale disruptions. To that end, here are the top capabilities tech organizations are looking for in their workforce today and in the future. These skills are employable skills in 2022.
According to a report by Skillsoft 2021 in the IT Skills and Salary report, 52 percent of IT decision makers in the Asia-Pacific region consider cybersecurity a priority for their teams. For this reason, the need for many professionals in cyber security becomes necessary to protect the valuable data of organizations and prevent cyber attacks.
This domain has been an important investment area for many organizations since 2017, until now in the fast-growing digital-first world. In addition, based on the same report, it is known that cloud computing is the main investment area by 43 percent, in decision …
Small business owners see 2021 as an opportunity to bounce back and rebuild from nearly a year of losses caused by the coronavirus. Entrepreneurship is growing at a record pace in 2021, with more than 4.6 million new business applications filed through October 2021, according to business formation statistics from the United States Census Bureau. So, what happens in 2022 for small business owners? Will supply chain problems be easy? Will the recruitment be picked up? And what is available for business loans in the absence of the Small Business Administration’s two main COVID-19 assistance programs?
Technology is Bridging the Employment Gap
Small business owners will flock to business technologies that allow them to do more with fewer employees. This may mean more table booking and checkout technology in bars and restaurants and more self-payment options for retail customers. QR code menus in restaurants persist, even if COVID-19 precautions fail. Many restaurants have found that digital menus allow them to update items and prices more easily, as they don’t have to reprint the menu each time. They also allow the restaurant to function with a smaller front-of-house staff.
Business Loans Increase, Community Banks Lead
Small businesses can expect more access …
There are several types of capital in economics and business. Some contribute directly and are used to produce goods and services. Meanwhile, others contribute indirectly. And, here, we discuss four of them:
Physical capital or capital goods are man-made tools – such as machines and equipment – that are used to produce goods and services. That is what “capital” means in the economist’s definition when describing factors of production or economic resources. It is one of four economic resources besides land, labor and entrepreneurship.
Physical capital is vital because it provides economic benefits to businesses. It contributes directly, which companies use to assist and support the production of goods or the provision of services. For example, manufacturing companies use machines to process raw materials into intermediate or final goods.
If the accumulated physical capital increases, we expect the firm to produce more output. Improved quality also contributes to increased output, for example by adopting more sophisticated technology. So companies can increase production by investing in more capital or better quality technology.
Furthermore, the company reports fixed capital as fixed assets. In financial statements, you may know it as property, plant and equipment (PP&E). Businesses often spend a lot …
Business ideas emerge from everyday life. For example, they commercialize their hobby. Or, they observe the problems people face and then offer products to provide them with solutions.
Basically, business ideas are plentiful and it’s not hard to find them. However, not all of them deserve to be commercialized. So, the real difficulty when starting a business is finding a viable business idea.
How to judge an idea is feasible or not? Beginning entrepreneurs may have to spend some time trying to find answers.
On the other hand, mature entrepreneurs can be one step ahead of ordinary people or beginners. They have a kind of sense when it comes to a business idea. They can quickly determine whether the business idea is feasible or not.
How do business ideas arise?
There are many entrepreneurs around us. So, there are many ways to capture brilliant business ideas. The question is, where do entrepreneurs’ business ideas come from? How did they find it?
In general, entrepreneurs’ business ideas come from their daily lives. It could be intentional or coincidental.
Then, how entrepreneurs offer solutions, there are two types of entrepreneurs. Some entrepreneurs come up with ideas and offer completely new solutions. Others …
The way a business works is basically adding value. They do this by processing inputs into higher-value outputs. Assume, the business produces goods and you are the owner.
Starting a business
At first, you decide what to produce. You then organize and make decisions about resources, including how to pool and organize them. Some you may have to buy such as raw materials. Others you may be able to rent such as machinery and buildings. To do it all, you need capital.
Your initial capital may come from your personal pocket or contributions from your family or friends. Or, you apply for a loan or raise funds from other external sources such as crowdfunding. For external sources, you should create a business plan as a way to convince fund providers to be willing to put their money into your business.
You also design how the business operates. For example, you have to determine what business structure you run, whether it is a sole proprietorship, partnership or limited company. You also organize operational activities into various business functions such as human resources, operations, marketing and finance.
Operating a business
Once operational, your business converts inputs into outputs. We call this transformation …
Successful entrepreneurship often exhibits certain characteristics. They are attributes, features, traits in entrepreneurs and shape their attitudes and actions in realizing innovative ideas, managing operations and growing the business.
These characteristics are a success factor when starting a business. Business success does not only depend on how much capital we have, but our quality to run and build it. Some characters may have stood out in us and others we may need to hone through experience.
What are the list of characteristics of entrepreneurship? Let’s dig one by one.
Innovation requires creativity, curiosity, open-mindedness and not complacency. Entrepreneurs often have an out of the box approach to problem solving, thanks to their experience and passion for continuous learning.
Problems often arise because our resources are limited. But, that doesn’t stop us. It actually motivates us to look for ways to get the best out of the resources we have.
We should see problems as business opportunities by offering solutions. We are able to identify gaps in consumer demands or needs, which existing products have not met. We consistently innovate to generate new ideas and improve what already exists. And innovation makes us better prepared for changes in demand and …
Making more profit and money is the main benefit of creating value for customers. Businesses make a profit by satisfying customer needs and wants through their products by adding value. They process inputs into higher value outputs.
What is value creation to customers?
Creating value means the business adds value to the inputs used. How much value is added? It is equal to the difference between the selling price of the product and the input costs.
Is the company successful in creating value? We can see it from whether customers are willing to pay a higher price than the input costs used to make goods or provide services.
And, creating value is the reason why business exists. Without it, they will not be able to survive because they bear the loss. Consumers do not want to buy if the product has no value to satisfy their needs and wants.
Take the tire manufacturer as an example. They buy raw materials such as rubber latex to be converted into final goods. To do so, they need locations for factories, machines to process inputs and labor to operate machines and factories. Then, after the tires are finished, they sell them to consumers. …