If you had been searching to earn a living while at home with your kids, here are 3 easy virtual assistant jobs from home for you:
Amazon Virtual Assistant
Duties are wide-ranging requiring you to perform many types of tasks including, data entry, web research, customer service, order processing, sourcing and many other tasks.
By experience, most employers do not require previous experience as an Amazon virtual assistant. Training is provided and the tools you would need are provided as well by the employer. The tasks may feel daunting at first but once you have processed all the information, the tasks are pretty much easy to do as you go on.
Social Media Virtual Assistant
There are employers that are only needing an extra hand to post things that are created into various Facebook pages or groups, Instagram and other social media platform that we already know and use on a daily basis.
Often times, photos and contents are already provided and will only be needed to schedule for posting to that which is incredibly perfect for moms looking for very flexible working hours.
Additional tasks may be added from time to, like interacting and responding to people's comments and queries. This job is the most ideal and very easy virtual assistant job from home for moms.
Research and Content Writer
If you are highly articulate in writing, then this is another easy and ideal job for you. Ideally, most employers would prefer someone with a decent knowledge of SEO or digital marketing. But as with other jobs, there are a lot of employers also willing to consider candidates who are willing to be trained and willing to put in the work and research relevant topics required for the job.
Having been a career woman before becoming a mother, it was a no-brainer choice to become a stay at home mom for our son. However, as it had been nearly 4 years, I could not shake off the feeling of needing to do something that would make me feel more fulfilled as a person. There was always this feeling of wanting to go back to having a career but at the same time, also wanting to be there for my child. After some thorough research, I delved into the world of being a virtual assistant or remote employee.
With nearly a year's experience, I am seeing myself becoming successful in this career as I go along. The only secret is to get started and hone your skills along the way by either learning new skills, whether self-taught or via an extensive paid training. There is a future in this career and definitely, so much potential for earning a good and decent salary.
There are several proven ways to get media exposure for your Website or Blog. From Social Networking to YouTube Videos and it does not have to cost you anything. Except you internet connection that is. Turning a Blog post into a video is among many exposure tactics used by Super Successful Marketers. But it always is and always will be the quality of your content to get media exposure for your website or blog.
To turn a blog post into a video use a Free Tool called "Lumen 5". You can easily search your browser and access this valuable tool. Please take your time and learn your way around Lumen 5, it's a great way to get media exposure.
With video ranking, the SEO is pretty much the same as with a website or blog. To get media exposure for your website or blog you need to be extremely descriptive and precise. Tell YouTube what your video is about. And always place your Target Keyword as the first word in your video title. In fact, try having around 3 target keywords in the video title. But be sure the keywords are used within context of the title.
Now the same target keywords must be present within the first sentence of the video description. But they must also populate the content of the description, and again. Always within context. Just cramming a bunch of keywords together that makes no sense will get your video nowhere.
The video description is your opportunity to convince the viewer that this is what they have been looking for.
Create a Facebook Page related to your website or blog niche. Then you install a plugin called "Hello Bar" and follow the simple guidance to link your blog to that Facebook page. The Hello Bar displays as "Like Us On Facebook". But we're not done with the Plugins yet.
Another plugin I personally use is called "Tweedis" which is equally simple to understand. This allows you to use Highlight Text that is shared by your blog readers. Place one share option in the beginning of your Blog Post. And also one in the centre and at the end of the post.
In conclusion to plugins you want to use a plugin called "Digg Digg". That's the floating share button you see on so many professional websites and blogs.
These are all great tools and have proven themselves successful many times over. But without Unique and Compelling content any exposure tool may end up appearing pretty useless. Time is the most important ingredient to your online success. And to get media exposure to your website or blog will take time. Because you must build reputation and inspire your audience with content.
Remember, you're building an Empire and not a Shelter. Building an Empire takes time, and if it was easy then everyone would've been DotCom Millionaires by now. Just a thought.
There is a need to look at the what-should-NOT-be-done side of things as well. This is essential so that you do not fool yourselves into thinking that you are on the right path and keep wasting money without getting an ROI.
When you know that you don't know something, you can find out. However, when you don't know that you don't know, such a situation is risky. Here, is a list from my side to make you aware of some undetectable errors you might commit in your digital marketing pursuit.
1. Promoting Rather than Problem Solving:
Beating your own drum is something that doesn't go well with the internet-savvy people looking out for any product/services. They are bombarded with promotional information continuously, you don't want to do the same thing and get lost in the crowd.
Don't boast about how good your product/services are, tell them how it can help solve their problems. They have come to your site or your ad, looking out for a solution, provide them that and you will hit the bulls-eye.
While it is okay to display your achievements, stage even that to appear more for 'you-the-customer' rather than the 'I-me-myself' attitude. How? Show client testimonials! And let your audience think if you can solve the problem for your existing clients, then you can for them as well. Be customer-centric, portray your product/services as solutions and see the magic.
2. Relying Heavily on any one Marketing Channel:
Doing this mistake would not only throw your digital marketing budget out of balance, but can reverse slingshot your revenue. You may have implemented many strategies throughout your experience, out of which say one or two may have worked the best.
And its the digital marketing mantra that one should maximize efforts on what works best; relying too much on this mantra could be dangerous. What if this channel suddenly becomes ineffective? What if the organic traffic that you were so proud of drops overnight thanks to the unannounced updates search engines come up with.
Such a repercussion would cause serious damage to your bottom line revenue. Therefore, resist the temptation to pour all the efforts into one channel and create a robust well-rounded multi-channel based marketing strategy.
3. Ignoring some Marketing Channels:
This point is similar to the point above, yet different in the way that it proposes using every channel whenever the time is right for your business. It is understandable that a few channels like pay-per-click might instantly thrust you into the limelight, but you should not ignore the other seemingly slower channels.
While it important to leverage the high-ROI-producing channels at the beginning, at a later stage venturing out into the others should be the aim of your marketing strategy. Invest your due efforts in SEO, no matter how time-consuming. 6 months down the line, when the search engines would start paying you back with relevant traffic, you will thank yourself you did it.
Go social; get your name out there. But, select the social channels carefully. LinkedIn and Twitter works best for B2Bs and the famed Facebook is the go-to channel for B2Cs. As you progress, throw in email marketing into the marketing mix, you will be surprised with its potential.
4. Not Assigning Numbers to Campaign Goals:
"Isn't this basic", you may think! Well... we usually deep-dive into the advanced stuff and forget the basics most of times. So, set measurable goals for your campaigns! Say, you want to increase the number of leads generated for a B2B company, set a goal of +20% in a given month, then work towards it.
Don't just say, I want to increase the leads - that's just wishful thinking! If you define your goals in terms of numbers is when you'll be able to scale your efforts, otherwise you'll keep stepping in all directions without moving an inch ahead.
In addition, remember, you are investing money in your efforts; the person who is carrying out the campaigns doesn't come free. Moreover, if you are investing money in paid marketing, not setting measurable goals is sure-shot recipe for disaster.
5. Poor Data Interpretation:
If you have ever seen the analytics dashboard, you'll see how it shows different traffic channels like organic, direct, paid, referral etc. Now, direct traffic interprets into people manually typing in your website's URL and coming in.
However, you need to make sure that the direct traffic numbers doesn't consist of your internal employees. Ignoring this would result in data dilution and wrong interpretation of data.
Besides, choosing the wrong metric to define your data could be disastrous. For example, if you have a high 'pages per visit' or 'average visit duration', you may feel that your customer is spending more time on the site, whereas the reality would be your visitors are not finding what they are looking out for.
In conclusion, the 5 points given above are not about the tips or tricks of digital marketing, but more about its core. If you avoid these, you can make any campaign rock, while extracting the maximum bang for your buck.
Search Engine Optimization is a very crucial part of digital marketing. Here are some Search Engine Facts which a digital marketer must know. These SEO Facts 2018 can really help them to plan for different marketing strategy.
1. Most of the users click on top 5 search results:- According to the latest researches, 75% of the users click on the first 5 search results shown by the search engine. To be more precise, 32% users click on the topmost result compared to 18% users going for the second result. This stat very clearly shows that the higher your website will rank, the more visits it will get.
2. Users don't usually scroll past page 1:- Only a mere 20% of the users are persistent enough to scroll to page 2 of search results. So if your website is on page 2 then you must work on your digital marketing and SEO strategies.
3. Mobile Friendly Keywords are the need of the hour:- Around 50% of users start their searches on a mobile device. When people use their phone for a search, they tend to use different keywords. Also, when it comes to looking for local business, 88%of the searches are initiated on a mobile device.
4. Mobile SEO and Local Business:- As we mentioned before, users tend to search for local business on their smartphones. The number of smartphone users is increasing year after year, hence, it is very important to plan your keywords according to the rise in mobile searches.
5. Websites with more pages are likely to attract more traffic:- The number of pages on a website plays a direct role in determining the amounts of traffic it generates. It simply reflects the importance of relevant keywords.
6. Around half of the search queries are 4 words or longer:- It is a clear fact that short keywords will help you to show up higher in the search results. But at the same time, it is very difficult to ranks those keywords as short keywords are very competitive. So, instead of going for short competitive keywords, you should just use longer ones effectively.
7. Organic Search still trumps over Social Media Traffic:- Although social media traffic is increasing day by day, organic searches are still the way to go. Organic searches account for 41% of the total search which is 3 times the social media traffic. Hence, moving completely to social media platforms to generate traffic is not wise.
8. Quality Content:- Google adores rich and definite substance which gives per users esteem and answers questions. Whenever you're attempting to get a site on the first page of Google, ensure you incorporate a lot of substance.
When one hears "SEO," it's almost automatic to start thinking of technical matters such as links, website indexing, and so forth. One crucial element that people tend to overlook but has quite the impact is content and producing quality content that assists SEO.
Keywords are the most crucial factor in getting your page noticed by search engines. Given the process of users inputting queries when searching online, making sure your content matches their queries via the right keywords is the trick to appearing on the results of potential customers.
Targeting Your Audience
Whether you're aiming for local customers or an international audience, including the necessary keywords in your article or blog post should be done with as naturally as possible. For example, if you're a baked goods store in Toronto looking for a better presence among your local customers, you can't just place "bakeshop in Toronto" randomly within each paragraph.
It's not just a matter of not appearing spamm-y (and avoiding penalization), it's also about actually providing content that audiences will stop and pay attention to. Even if your ultimate goal is to advertise to users, quality should remain top priority.
Different Kinds of Content
SEO marketers and writers typically come up with different kinds of content to place the necessary keywords in. These are some of the most used types, and each one helps to contribute to a level of variety in terms of website content.
Articles
Almost every website is bound to contain a whole bunch of articles. Articles can literally be about anything - from informative pieces to features on an event. Also, they're typically lengthy and leave a lot of room for elaboration.
Similar to what you'd read in a magazine or newspaper, while they're not completely formal in tone, they're not to be overly friendly, either. Articles typically keep a sensible tone that helps introduce important keywords and even establish an air of authority as well.
Blog Posts
Another very popular type of web content is blog posts. These are typically a bigger hit with younger audiences because of the playful tone used as well as the shorter length of the posts.
If your branding allows for it, blog posts can be great for when you want to appear more casual and personal to your audience. They also make it easier to "naturally" incorporate keywords into the text.
Infographics
With infographics, meanwhile, you get to really start diversifying your content since images are now involved.
From serious statistics to quirky (but still educational, of course) comics, infographics allow you to present matters such as product information to your audience in a way that's easier to absorb thanks to the assisting images and introductory and concluding paragraphs containing the keywords.
Videos
Videos are the ultimate content diversifier - you move from just making the audience just look at/read something to creating a more dynamic experience thanks to moving images and even sound.
Videos don't have to be published as often, but when they are, they should come with a paragraph or two of explanatory/introductory/concluding points where you can casually slip in keywords.
Apart from providing your customers your pitch, it's important that you're actually giving them something to take away from your posts as well.
Remember, these are people and you're asking for their time. Respecting that, providing content that will be worth their while should be part of any effective site as it shows customers that you acknowledge them as humans and not as mere cash factories.
Domain authority is the top factor in dictating the ranking of a website. You can go to sponsored content (aka PPC ads) all you want, but that's all temporary. If you want a good ranking that actually sticks around, you'll have to work on your domain authority.
Links
The best way to boost your domain authority is with links that lead back to your site, and such clicks that lead back to your site are made possible by your content being placed on popular sites. These inbound links are best achieved with engrossing content that's well-written just for your audience and in accordance to their interests.
When your content is interesting and presents accurate information useful to your audience, you're well on your way to becoming a go-to site for users, and with a better volume of regular traffic with little bounce rate, your website's ranking is bound for better visibility.
Content is definitely more than just a website filler - it plays quite the significant role in getting you that increase in traffic.
This is why getting an SEO services agency with well-coordinated technical and content production teams is key in ensuring that your online campaign is geared toward a single goal, and that is building a presence for your site and better brand awareness for your company.
It can seem difficult to find quality, relevant images for your site posts without purchasing them and that can get very expensive for a website with many pages. If we can add relevant imagery to all of our pages and posts we're going to see a lot more success in terms of the percentage of people who read our content and spend some time on our websites.
We are visual by nature. We grow up from a young age reading books that are "visual" and we never really lose our desire for this as we get older.
If you are creating pages that are an ocean of words, then you are most likely not going to attract the broad audience that's out there. You will also get less engagement from those that do read the pages as people will not immerse themselves in the content on your website.
It's best to find the free-to-use images whenever possible. After all, you can always purchase images whenever you want or need to for certain situations, but not for each page. You might be using 3-5 images per page and if you purchase each image the cost can quickly add up, so let's look at a few of the free options:
Find Royalty Free and Free To Use Images
Pexels.com
Unsplash.com
Pixabay.com
Go to scx.hu.com and search?
Go to Wikimedia Commons and use the search bar
Amazon Associates, Free to join and use product photos
Images, likely one of the most confusing and scary aspects of building a website for many. To be honest, with a little understanding, there is no reason to feel like this. I'll show you some of the most popular sources of "royalty-free" images for your website and I'll offer you two strategies for creating your very own images, within most, if not all niches.
There are some other free stock photo sites as well, which means the images are fully public domain and you can use the images however you like. Something to keep in mind is that some authors might want you to give them credit for the photo while others will give you "full purpose" access on an image to image basis.
Screen Captures
Sometimes it's best to take a screen capture, or screenshot, to show content to your viewers. Enter "print screen key, or print screen Dell, Mac, Windows 10, Apple, etc", and learn how to take and save your files for use. On my Dell laptop, I simply press the "Windows" and "PrtScr" keys at the same time and the screen dims for a moment and the screenshot is saved in my file pictures.
You can also see if your pc has a Snipping Tool which will allow you to box off an area of a page or even the entire page and then save the snipped image to your file pictures for use on your website or elsewhere.
If needed you can use the following software:
Snagit - has a 30-day free trial
Droplr - is completely free
Print Screen (on PC) or Apple + Shift + 4 (on Mac)
Use Your Smartphone Camera
One thing to keep in mind is that you can take your own photos in many cases. A couple of examples would be if you were in the "dog training niche", or cats, there are plenty of opportunities to take photos at home or at the local dog park or grooming salon, etc.
If you are in an electronics niche go to the local stores and take some product photos that you can use. Another example could be food items. Make your own scene and take photos or go to a local market and get images locally to put on your website.
When you take your own photos, the image ownership and rights are yours only. So take as many of your own pictures as possible and always consider this option when adding images to your articles.
You Can Use Paid Images
Sometimes I'll search the paid image sites if I need to find a certain photo type that I can't seem to find in my free options. The images are usually $1 or less per photo and you get a better price if you subscribe. High-quality images are important for your website, especially the main article image.
Some of the most popular social media sites like Pinterest and Instagram are successful just because they are completely visual.
Just keep in mind that with the content you get from "royalty free" sites, you will need to check the permissions for each image as one might have different rules for use than another.
How to add images to your WordPress website
Go to your WordPress website Editor.
Find the page to edit.
Find where on the page to place the image and click there.
Click the Add Media button.
Upload the picture from your files.
Fill in the Attachment Details - Title and Alt text settings - Use the keyword in the Title and Alt text boxes.
Display settings - choose the page location for the image, left, center, or right.
You can Add a link to another page or an offer page if desired.
Choose the image size, thumbnail, medium, or large.
Click "Insert Into Post" - That's it.
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Blogging your way to wealth and fame will not happen in an instant. Because it requires the most important ingredient of success and it is called time. It is time that will take you all the way to blogging wealth and fame. Along with direction and compelling unique content without which there can be no success. Blogging your way to wealth and fame starts with your profitable niche. And then the target keywords related to that niche.
This is the most important part of blogging which is why it is also referred to as direction. Without direction you will receive visitors that are not even remotely interested in your content. And that will skyrocket your blog bounce rate. Which is an indication to search engines that audiences do not enjoy your blog.
What is your Profitable Niche?
Your profitable niche is the secret when blogging your way to wealth and fame. It is that one thing you love doing most. If you love that activity enough then you will also have quite some knowledge on the subject. Which is why many a hobby have turned surprisingly profitable. Online success is only imminent when you love what you do. Because when you truly love what you do, then it will be impossible to give up.
What are Target Keywords?
Target keywords are the single words that describe your profitable niche best. And with the Google keyword planner you must research keywords with a high search volume and low competition. Choose the one keyword with the highest search volume and lowest competition. Then make that one keyword the first word of your blog title. Also try to include that single more important keyword within your blog domain name.
Domain and Blog Title?
With the above mentioned target keyword research and your profitable niche. Choose a domain that is not too long and also easily remembered. As should your blog title be. The title however must demonstrate direct relevance to what your blog is about. The blog title must not exceed 60 characters while also counting spaces.
Where must I place the Target Keywords?
Your primary target keyword must be present in your blog domain. And also as the first word of the blog title. But that is just the one primary keyword you want your blog to rank for. You should have several target keywords. You can place more than one target keyword in the blog title providing it is within context. Your blog title is also known as the h1 header.
And like a chain reaction the blog title should be the first words starting the blog meta description. See how that primary target keyword remain a constant, as the first word? But why is that?
Because that is how you tell search engine spiders or crawlers exactly what your blog is about. And in doing that you simplify the indexing technicalities and ultimately boost the blog ranking capability.
There is also the h2 header or also known as the blog post title. So the keywords you wish to target with the content must be present in the blog post title. But with the blog post you also want to pay attention to things like writing. The presence of transition words and preferable absence of passive voice writing.
Furthermore there are image alt tags like with featured images. And these alt tags must also contain the keywords. This way even your features images can be indexed and serve as an internal link. Professional SEO requires a lot of attention. Which is why the majority of professional blogging rock stars (so to speak) all use the Yoast SEO plugin (over 7 million users).
How many words must a Blog Post and Page Contain?
Providing the content is populated with the target keywords and search phrases. It is recommended that content be no less than 1000 - 2000 words. And this goes for both blog pages and posts.
But how often should you come up with this much Compelling Useful Content?
In my opinion. Take your time and work on a post or page so compelling and useful that it cannot be ignored. At least one high quality outstanding post per month. This will require a lot of research because compelling content is something that cannot be found elsewhere online. Offer a proven solution to a common identified need within your niche. And do this with every post and page. Because that is how you get recognised as a professional.
But how will I actually Make Money?
Simple. With a high quality blog you will receive a lot of targeted visitors and also gain subscribers for your email list. Having your own blog and email list is where you promote affiliate products. This is easily obtained by creating a free affiliate membership with ClickBank. Which is the one of the largest digital sales platform online with over 300k products to choose from.
But affiliate marketing and ClickBank is an entire discussion on its own. And a rather large discussion because there is a lot of misdirection on this method. Always remember, there is no such thing as instant fame and fortune. Success requires hard work be it online or otherwise.
Success Means Going From Failure To Failure Without The Loss Of Enthusiasm - https://easyinternetmoneyandjobs.com
Affiliate marketing is a well-known way to make money online. But there are a great deal of people around trying to promote affiliate programs. Hence it's important to how to drive traffic to your affiliate links so that people buy from you and not your competitors.
Blogging
Your own blog is one of the best places to showcase affiliate links. Your blog should be the centre of all your marketing action, so make the most of it with great content. The content you create can help sell products. Articles and posts offer the framework for your link. You can focus on a common problem that your audience has, then offer an affiliate product as a solution.
Social Media
The chances are you already have an account at some of top social media networks, like Facebook or Twitter. But you can't promote affiliate offers too often on social media, simply because you'll start to look like a spammer. The affiliate products you promote could be the solutions they are looking for. Your posts can be chatty, discussing a common pain point and then suggesting an affiliate product that can help. You could also post a review.
Search Engine Optimization (SEO)
The words on your website signal to the search engine, like Google, what it's about. When people perform a search for a specific topic Google delivers search engine results pages (SERPs) with what their formula (or algorithm) determines to be the most relevant pages.
Your website content should contain at least one keyword. Keywords are the kinds of words your prospective customers would use when searching online for the type of content and products you have to offer. The title of your article, review or post should contain at least one keyword.
Review Posts and Videos
Review posts that have a legitimate air of authority and ring of truth to them are the perfect framework for putting an affiliate product link in order to earn commission. You should only write reviews of products you're familiar with, and your reviews should be as sincere as possible. Otherwise, you'll start to get a reputation of being willing to promote any old rubbish, which will damage your status as an expert in your niche.
Email Marketing
One of the main issues when you promote affiliate programs is that you spend a lot of time and effort driving traffic to vendor sites. If they click over to the vendor without ever interacting with you, you'll probably never see these visitors again. But putting them on your email marketing list means you have a chance to build a relationship with them and once they're on your list, you can market to them regularly.
The best way to get them to join your email list is to offer an incentive, like a free eBook, eCourse, or another very useful informational item people in your niche would love.
Companies are happy to pay commissions to people just like you, in return for selling their products and services. You have the potential to make a great income when you choose the right niche, stay committed, and understand your audience. For a no-nonsense, kick-start guide to getting started, download my free checklist, Affiliate Marketing For Beginners at https://jonallo.com/affiliatechecklist
You probably interact with several different social networks. As a business owner, you are probably familiar with online marketing because you recognize the need for social media marketing. The reality is that since everyone else is doing it online, you need to do it as well. If you don't have that approach, you will be left in the dust and everyone else will move past you. However, what you may not realize is that there are several different types of social networks that may benefit your business.
The popular social networks and then some
The chances are that you are involved with the popular social networks, such as LinkedIn, Facebook, and Twitter. You may also be interacting using Instagram and YouTube. On the other hand, you may not even be aware of the other social networks and how amazing they may be for your brand and for your business. What you may not realize is just how much there is to social media and how much more you may be able to get out of it than you are aware of right now.
Social networks: The function and purpose of a social network are really simple. Social networks connect people to each other. That is exactly why they are called social networks. Social networks can benefit your business in several different ways, such as allowing you to do market research, generating leads, building relationships, etc.
Discussion forums: A discussion forum is a great place to get involved if you want to share your opinions with other people, hear their opinions, and really get a stimulating conversation going. All sorts of interesting nuggets of information can emerge as a result of a discussion that you have on a discussion forum.
Networks that share media: A network that shares media does just that. It is a network where people can share all types of media, such as photos, videos, and any other type of media that you can imagine. This type of network can benefit your business in similar ways to what happens with social networks. They can help you to build your brand and to build relationships, engage your target audience members, and generate leads, among a whole list of benefits. In many cases, these types of media are more effective than words (if used in combination, your content will be highly effective). It is important to remember that many people are visual, which is why they respond so well to visual content.
Content curation and bookmarking networks: If you are searching for new content, this is the type of network to do it. There is a good chance that not all of the content that you share is original content. You may be curating some of your content, which is an intelligent part of your online content marketing strategy. There are networks that can help you to get where you are going in this regard. This type of network can benefit your business in several different ways, including increasing your brand awareness, engaging your target audience members, and increasing traffic to your website.
Networks where you can leave product and/or service reviews: This is an important type of network because other business owners count on your opinion and similar opinions from other people. The fact is that everyone considers and buys a variety of products and services. Why not go a step further and share your opinion about what you have researched and purchased? It will certainly help the business owners if you do so.
Networks for publishing content: Content is the bread and butter of all businesses. No matter what you do and what you offer, the fact is that you will need to tell other people about those offering and your brand. Otherwise, the person on the other end will not know about you and if they don't know about you, you will not be able to establish a relationship with them and they will not buy anything from you at any point. Content marketing is a necessary approach for all businesses. The networks that specifically enable business people to effectively share their content for maximum impact are a critical tool to the success of those businesses (yours included).
Networks where people with common interests can get together: This type of network can apply to personal or professional interests. They are very effective and very successful on the whole. Because this type of network helps people to build relationships, that also means that you will be engaging the other person and build your brand.
Networks where people can shop for products: Since shopping is necessary and everyone does it, this type of network will be around for a very long time. Similarly to the other networks that have been discussed here, this type of network can also build brand awareness, enhance engagement, and sell products to other people.
Networks where people can trade: This one is probably obvious. If you have things that you don't want or need anymore, there is a very good chance that there is another person who does need and want it. It is a great way to clean up and build some sort of relationship at the same time.
Networks where people can be anonymous: One of the most attractive features of the Internet for many people is the idea that they are anonymous. Before the Internet, many people were reluctant or afraid to communicate using their own name. Now they can hide behind anonymity, which feels safer. Of course, it is not always the right approach to take but it is how many people feel.
Conclusion
Even if you don't get involved with all of the different types of social networks, it is important that you are aware of their existence and understand exactly what they are for and how they work. It is interesting to note that most of the different types of social networks have common threads: building brand awareness, engaging audience members, and establishing new relationships. It is only then that you will be in the position to reject them if you don't feel that they will work effectively for your business.
Michael Cohn is the founder and Chief Technology Officer (CTO) of CompuKol Communications. He has over 25 years of experience in IT and web technologies. Mr. Cohn spent a significant amount of time at a major telecommunications company, where his main focus was on initiating and leading synergy efforts across all business units by dramatically improving efficiency, online collaboration, and the company's Intranet capabilities, which accelerated gains in business productivity. He also reduced company travel and travel costs by introducing and implementing various collaboration technologies.
His expertise includes business analysis; project management; management of global cross-matrix teams; systems engineering and analysis, architecture, prototyping and integration; technology evaluation and assessment; systems development; performance evaluation; and management of off-shore development.
Mr. Cohn earned a Master's degree in project management from George Washington University in Washington, DC; and a Master's degree in computer science and a Bachelor of Science degree in electrical engineering from Fairleigh Dickinson University in Teaneck, NJ.
Mr. Cohn is a member of the Institute of Electrical and Electronics Engineers (IEEE).
There are rules of thumb but there are no hard and fast rules. The 'things people do every day to become successful' in what they do has so many variables.
Some swear by morning coffees, others a 20-minute nap. Give or take, that's almost always the story. Like I said, variables.
Routine, or better yet, discipline is what makes people successful. I will never claim to be a 'successful person' but what I HAVE been doing is working from home for the past 18 years. I hope you can share YOUR story about how you soften the rough edges off of your everyday work week too because it helps. Every little bit of advice helps, actually, because most successful people listen.
1. No Emails - Most people start their days off by rolling off their beds with everyone screaming at them. Your alarm is screaming. Your boss is screaming, your kids are screaming, your email is screaming. So, one of the things that I DON'T do early in the morning is to check my emails. People who know me know not to expect an instant reply from me early in the morning. That's when I am trying to sort my shit together so that I can get stuff done for you throughout the day. So, no emails in the morning. Only coffee is allowed.
2. Stay Dressed - This one is for those who work from home. One of the things that I've noticed in nearly 2 decades is that I dress for work (even if I will be in my home office or living room) the whole time I am going to be working. I don't know about you but the moment I slip on my cutesy 'lil comfy clothes, my zest for life and roaring enthusiasm to get things done slithers off from me like a layer of dead skin cell.
3. Meditate -Oprah's said it. So did Deepak Chopra and Cameron Diaz. It's not the woo-woo-woo stuff, trust me. It's more like sitting there in complete silence or with soft music gently caressing my ear, or just sweeping the floor (the movement is meditatively repetitive, try it!). Instead of thinking of it as a 'new age fad', think of it as Loading Your Gun Ready to Kick Down the Doors of the World. Badass when reworded, huh? I use an app to 'help me along' - Insight Timer. It has music, guided meditation, and... well... complete silence.
4. Don't multitask - It's something I was really proud of and multitasking was the only way for me to move the needle forward when the list of things-to-do was just way too long. I don't do it anymore. Instead, I think doing things in spurts is far more productive. One example would be that if I found vacuuming the floor THE daunting task of the day, I would mindfully vacuum the living room and leave the rooms and kitchen for tomorrow.
Silly example, I know, but when applied to work, it's pretty amazing when you give the tasks at hand short bursts of active, productive attention. When I am tired, I will come back with a whole lot more to contribute AFTER I've dealt with my brain fog instead of muscling through it. I mean, who am I to argue with the chemicals in my brain?
5. Coffee - I am just going to leave this right here. Explaining it any further is going to make me angry if you don't understand it. It's my survival poison.
6. Laugh a Little - A sense of humor provides a buffer against the build-up of stress and anxiety in your system. So, occasionally, load up your Tumblr or Twitter (where you are encouraged to follow people like 9gag - just a personal preference, of course) and just laugh a little.
Experts say that humor provides a powerful buffer against stress and fear. "Humor is about playing with ideas and concepts," said Martin, who teaches at the University of Western Ontario. "So whenever we see something as funny; we're looking at it from a different perspective. When people are trapped in a stressful situation and feeling overwhelmed, they're stuck in one way of thinking: This is terrible. I've got to get out of here. But if you can take a humorous perspective, then by definition you're looking at it differently - you're breaking out of that rigid mind-set."
7. Being understanding - I know this doesn't fit into the normal mold of 'things people do to be successful' but I think it's pretty important. Because most of us work with others, whether in the office or remotely, we often assume that people are being evil of mean when they're being a little less than nice to us. Sometimes, it's because they're tired just like you, exhausted just like you, overwhelmed just like you, have to pay bills just like you, are worried about their kids/parents just like you, or simply had an argument with a friend/spouse just like you.
I think this point is particularly important in the digital world. With the digital divide, we sometimes forget that we're dealing with human beings. Just like you.
Marsha Maung is a mother, writer, social media consultant, internet marketer and human. Her mission, as far as her work is concerned, is to bring brands, products, services and companies exposure. Find out more about her life from her personal blog (cooking, life, sense, parenting, writing, etc) or her professional WordPress blog MarshaMaung.Me. Hope to see you and connect there.
The recent changes to the Facebook algorithm has set many entrepreneurs who were using Facebook to promote their businesses into a tailspin. In basic terms, Facebook will now prioritize relevant content from friends and family on timelines.
The reason for the change was, to some extent, a reaction to the issue of "fake content" on the social media platform. Facebook now wants to promote "real content" from real people, not international propaganda agencies disguised as people.
This means that posts from businesses will be less visible and is particularly hard on ordinary, honest businesses that are producing genuine content without trying to misinform or damage anyone.
So what does this mean for your business?
Good Content Will Always Be Shared
If you have plenty of engagement in regards to your content, you have a better likelihood of being in the new news feed. But even if you're not, those who genuinely like what you do will generally come to visit your page specifically to see what's new and to interact with your content.
Create a Facebook Group
Your personal Facebook page is for socializing. Your Facebook group is for socializing, and communicating with others that are interested in the topic or market in which you are doing business. When people join a group that you create, on a topic they're interested in, they look at you as a leader in that area. This means that you can promote your business while being in control of the process, something you can't do in someone else's Facebook group, or successfully from your own personal profile page.
Leverage Influencers
Influencers are folks who have grown a significant following on Facebook over time. They often keep to one niche or subject and offer their thoughts, opinions and expertise. Interact with their content, and you will become more noticeable. When people click on your name, they can go to your account, like your page, and start receiving your posts on their data feeds.
Offer A Variety of Content
Don't limit your marketing on Facebook to one kind of content, for example text only. Include things like memes, video, live video, short content, long content, infographics and so on. Videos should be short, sharp, informative and entertaining. Don't forget to ask for comments and shares.
It's not the first time Facebook have made major changes, and at least they informed people about them on this occasion. It's just a case of being more innovative and thorough, and watching how things unfold in the future.
Facebook wants you to succeed using their advertising platform. This just makes sense. If you achieve your business goals while spending money on Facebook advertising, you're likely to use that marketing practice again in the future. To learn how to make your Facebook marketing successful and profitable, download my Free Checklist, Successful Facebook Ads at https://jonallo.com/FBads
Alexander Pope said "A little knowledge is a dangerous thing." it goes perfectly with the amateur usage of social media especially in the 21st century. We take social media for granted and do whatever we want which comes biting back later.
Social media has brought about new opportunities and avenues for the world to connect at large. With social media, the world has become a smaller place. On one hand, it is a great invention, and a lot can be done to better our lifestyles. But if we look at it with thousands of immature users it is becoming a somewhat scary place to live in.
There is a reason why most parents or older siblings try to keep the young ones away from social media handles these days. From being a platform to connect or share worldviews it has narrowed down to bring a platform to boost and troll. That is sad given that we can do so much with social media, it is sad to see how low to stoop.
Today kids of ages 10 have the access and accounts on social handles; it can turn into over addiction and an escape to a fantasy world. This fantasy world that we create behind the 15-inch laptop screen might be a scary affair. The fit models with perfect bodies, exotic travel locations, and photo-perfect moments most often don't match with the lives we lead on a daily basis. This disconnect might want us to aspire for more which might not be possible in reality and can affect our mental health.
The thrust for more followers or likes has a dangerous effect on our mental health. You start feeling anxious, a lack of identity, less sleep causing insomnia, a negative body image can be some of the significant issues that a social media addict might, face. You make yourself as desirable as the models you see around you, you keep adding filters and edit your pictures to look 'perfect, and your sense of self is lost. You want to become someone you are not. You start hating yourself for not having the ideal body, the perfect shape, so on and so forth.
Researchers across the globe have found that the "fear of missing out" created across all popular social feeds can substantially lower self-esteem and fuel issues like anxiety and depression among individuals.
On a large scale, not only teenagers but people nowadays take the social platform too literally and believe in a lot of fake news of hoax that is being circulated just for publicity purposes. People today are falling for dangerous trends that they see on social media or think it is cool to be a part of. The trend of being a part of a social group is what is causing more harm than good.
You have to understand you being social has nothing to do with the number of friends or followers you have on social media. It can all be a farce, just by seeing another peer having many followers you cannot be jealous and want that life. Don't let social media be a drug that is so addictive that you cannot live without.
All of these leads to identify threats that take place due to the sharing of too much personal information on the net unnecessarily. You can also see a rise in hate speech and social disgust across social media accounts which is completely uncalled for. The most disgusting thing that is coming up a lot in the 21st century is cyberstalking. It can be too dangerous and is even taking lives. Immature usage of social platform has to stop and stop now.
After using social media handles many people decide to keep themselves away from it as there is no or very minimal privacy with the extensive use of social platforms. If not handled sensibly your life becomes a window to the world. A subject of discussion.
We as a world lack smart users. We either take everything for granted, or we take things too literally. Having said all of this it does not mean that social media is all that bad with only negatives. Of course, not, there are plenty of benefits of social media. It keeps us connected across vast distances, let's us find our school buddies and long lost colleagues. If your motive is to stay connect or share an opinion about life and other stuff but if social site is your source of news or emotional upliftment it is undoubtedly a bad idea.
As I've said repeatedly, "It's called social media for a reason." How do you gain traction with people on social media? Not by telling them things, but by asking them questions.
When you make a post, go ahead and finish it with an open-ended question, something like "What do you think about the topic? Post your thoughts below." BTW, and open-ended question is one that doesn't automatically elicit a short, one or two word answer like "Yes" or "No," "red" or "blue." It asks people to express their inner views on a subject, to answer expansively.
Of course, the other part of the social media equation is interacting on other people's posts. In order for you to be seen, you need to do more than write your own posts. Of course, other people are asking questions on their social media posts. Some of them are asking closed questions, to be sure. "Am I right - yes or no?" A few people will be asking open-ended questions. Either way, when you reply, your voice is added to the conversation. More importantly, your on-line name or handle is added to the stream of information flowing past the eyeballs of others.
If you look for advice on marketing, a metric crap-ton of people will shout a single-word piece of advice at you - "Content!" What they mean is that you should be creating unique information to put in front of others to grab their attention.
But here's a bit of content the so-called experts tend to overlook: asking your own questions on other people's social media posts.
Let's say, someone makes a post about carpet cleaning. Yes, I use that industry in a lot of examples. So let's say a person posts that you should steam clean your carpets at least every six months. Go ahead and ask your own question! Like with your own posts, open-ended is best. "In addition to the 6-month cleanings, should I also clean before a holiday gathering?" You could switch that to a closed-ended question: "Which is best, cleaning before or after a holiday gathering?"
If you can't think of a relevant question, it's okay to ask for examples and clarification. I can guarantee there are plenty of other folks out there who would like additional examples or a different explanation. "Is there a different schedule you'd recommend for a carpet in the reception area of a business?" "Can you give an example of a hotel lobby carpet cleaning process?"
Asking relevant questions, ones that dig deeper into the subject of the post, are often nearly as good as - and sometimes better than - the original informational posts, and will get your name out there as someone who knows what they're talking about.
* * * * *
Scott Gardner is the founder of boutique firm Agile' Marketing Services, LLC. They specialize in working with their clients to become Recognized Experts, and using that status to leverage the clients' marketing efforts. For more information, please visit http://www.AgileMarketingServices.com.
As a business owner or marketing strategist, social media is an important tool to increase brand awareness, we can see social media like a cocktail party, where you can have networking and fun. I will explain 10 Must-Haves in your campaign to rock your social media strategy.
1. BE INTERESTING.
According to BBC News the average attention span is less than 12 seconds, thanks to multiple devices and a lot of distractions is really hard to stay focused and maintain the audience entertained. The only way is generating interesting content in relation to your service or product, there are a lot of formats according to each channel like videos, interactive images, and useful information applicable to their needs.
The best example is TED Talks, their content is about generating content through guest speakers of the most trendy and interesting topics in different industries.
2. BE AN EXPERT ON YOUR AUDIENCE INTERESTS.
Rule number 1. The more you know about your target, your strategy perform will better. Who are you talking to? What do they do? Why they buy your product/service? What are they doing? Where are they from? Which type of content are they interested in?
Netflix knows us well, if you are watching comedy movies, they will recommend other ones of the same type, the recommendations are driven by machine learning algorithms analyzing your interests and behaviors.
3. BE PART OF THE INFLUENCER TREND.
The storytelling of influencer marketing is more realistic, and the followers can feel connected and identified with their daily life. Marketers are increasing their budget on influencers thanks to the impact on their audience.
Fiji water did a partnership with the influencer Danielle Bernstein who is a fashion blogger offering workout videos with her personal trainer. The goal was to highlight the importance of hydrating if you want to feel and look good, the campaign name is #weworewhat with #bodyworewhat.
4. BE EMOTIONAL.
We are human beings and even we live in a connected world, we want to feel different emotions on ads and campaigns to take the experience to the next level. The campaigns that get a connection with their audience are the ones who will last for a long time in their minds.
Dove is the brand taking the beauty perception as its core strategy, they don't sell soaps, they sell beauty to women empower them to gain esteem.
5. BE FUN.
To engage your audience, you need to be unique and enjoy this job. Choose a game, a funny quote, a meme, depending on your service or product to get your audience attention.
Test, measure and repeat, you never know how your campaign is going in comparison with other campaigns, just make experiments and make them run to see what happens.
6. BE AWARE OF YOUR DATA.
Imagine if you just do campaigns and don't measure their performance, you maybe will get the results you want but, you don't know what exactly is causing a conversion or working with your audience. With your data, you can optimize your campaign and bidding.
A great example is Amazon, do you imagine this revolutionary business without data? Data gives the information and the information gives the power.
7. BE INBOUND.
Inbound marketing is a whole strategy to increase the traffic to your website and create conversions to get new customers. Content marketing is one part of that strategy, the first step is identifying the pain points of the brand and competitor's analysis. Then, create a persona (with the information you have on point 2), create content offering value to your audience and make it with a CTA (Call to Action) where you can redirect them into a landing page and you can proceed with a sales strategy.
Chipotle captured gaming fans, chipotle fans with a successful inbound strategy about "Chipotle Taste Invaders" with a laser tag shooting burrito, fighting against additives and educating the customer about the burrito ingredients.
8. BE CREATIVE.
Remember you need to captivate your audience with your campaign and it's not necessary just explaining the products and services. One of the best campaigns is Metro Trains with "Dumb ways to die" with catchy music and cartoon characters getting in the top 10 on iTunes in 24 hours.
9. BE HONEST.
And this is a little related of why influencer marketing is so successful now, the truth is that you will obtain your customer's loyalty and retain them with honesty and transparency; if they trust you, you are a winner. Put yourself in a scenario where you are really hungry and there is a new restaurant that someone told you about it, but you're not 100% sure of how healthy it is, then, you realized they cook your meal in front of you; that will make you feel confident about how they prepare the food, what type of ingredients and if it's fresh. The same happens with your company, the more transparent your product or service is, the better your audience will accept it.
One company with a lot of negative comments about their quality food is McDonald's. To attack this, the company creates a transparent marketing campaign called "Our Food. Your Questions" Where McDonald's answer all your concerns about their food.
10. BE A FRIEND.
This is my favorite part, to see the importance of these channels. Back in the days, we wouldn't think about Facebook to a way of communication of resolving inquiries or issues with a brand. Today you can take Customer Service to a whole experience making it so personal like you're in the store, providing that, you are saving time, energy and effort to the customer having a satisfied customer or just changing their perception if they had an inconvenience.
The best example is a lovely response from Lego, who could just reply with a "standard message" but it was so personalized and unexpected that went viral to all channels.
Check out your current campaign strategy and think about the above information and try to implement it to your own business.
Is your number one Bucket List goal to establish your own entity and become a business owner or Solopreneur consultant? Are you planning to abandon the "safety" of a traditional job to directly market and sell your products or services to customers with the money and motive to do business with you?
Going out on one's own is a thrilling and sometimes frightening prospect. Those who take the plunge eventually discover that many resources that are casually taken for granted while working in an office are not readily available to those who step out on their own. As you weigh your options and prepare to write your business plan, be aware of a few changes and additional expenses to expect should you join the self-employed sector:
No paid days off
There will be no more paid sick days, holidays, vacation days, or personal days when you become the captain of your own enterprise. Neither will there be any pay for days off that result from bad weather. When winter arrives and snow begins to fall, there will be days when harsh weather conditions impact your business and your income. When the governor of your state declares a snow emergency, important meetings will be postponed and businesses may be unable to open and operate.
In particular for those who own a B2B or B2C venture where the business model requires you or your employees to visit the customer's location (e.g., cleaning services), or customers to visit your location (e.g., a laundromat), snow days = no revenue days. Small businesses have been known to go out of business within a year following periods of extreme weather.
Establish business credit
For tax purposes, it will be useful to open a separate business bank account and also apply for a business credit card or two. There will be business expenses to write off and you'll want to make it easy to monitor spending. Do yourself a favor and check your personal credit ASAP and pay off outstanding credit card balances to improve your credit score and correct any errors.
Financial management
Financial management will assume more than one form. As noted above, you'll need to establish credit for the business, so that you can order inventory and supplies without immediately impacting the business cash flow, for example. Those are Accounts Payable items. You will also need to ensure that customers pay you on time, or at all, and that is an Accounts Receivable function.
Maintaining sufficient cash flow is crucial to the business' survival and your own ability to keep a roof over your head, food on the table and your car on the road. You must develop a business budget and plan for the purchase of equipment, licensing costs (if applicable), insurance (if applicable), professional certifications (if applicable), or space rental (if needed).
In addition, you may consult with a business attorney or accountant to discuss the legal structure of your venture: Sole Proprietor, Corporation (chapter S or C), or Limited Liability Company (LLC). The type of business that you're in and your exit strategy will play a role in choosing the business legal entity.
Paying for office supplies
Free scanning and photocopying will be over. When you need to staple a few pieces of paper together, you must buy the stapler and the staples and you'll buy paper clips and envelopes, too.
There will likewise be no meeting space or audiovisual equipment for you to reserve. You'll have to meet at the client's office, or at a coffee shop or other restaurant. Privacy might be an issue and arranging a Power Point or other visual presentation might be awkward as well.
A lap top computer or tablet will be office equipment must-haves. It will be imperative to possess the tools of your trade and to always appear as a competent and prepared professional as you develop your reputation and build your brand. Good luck!
Thanks for reading,
Kim
Kim L. Clark is an external strategy and marketing consultant who brings agile skills to the for-profit and not-for-profit organization leaders with whom she works. Please visit http://polishedprofessionalsboston.com to learn how your organization can achieve mission-critical goals when you work with Kim.
Starting an online venture these days is super easy. There are many inexpensive or free open source platforms for eCommerce store development.And, with the right development team, you are just one step away from getting your own website. Starting a home-based shop to trade your handicraft items, or other locally sourced products is a great idea as a startup. Starting an online business is trouble-free with ample of flexible open source and inexpensive eCommerce platforms available. The only secret of success is not to stop halfway but go on expanding product categories and store's features to convert from a small startup to a leading online business.
While we know that for any individual who is not much aware of the functioning of the eCommerce world and how things go live overnight, selecting a platform rightly to set their own online shop is a backbreaking job. So, here's a list of most powerful and easy-to-use platforms which can help owners to successfully transform their startup idea into a vibrant reality.
#1 Magento
Acclaimed as the leading and fastest evolving platform, Magento is the benchmark platform. It supports all trades and can accommodate up to 500,000 products and 80,000 orders an hour. With a number of advanced features, easy integration, SEO oriented and versatile content management, it stands to the best solution available within the budget.
Further, it is modular and customisable, means you can gradually expand your store and add new features over time.
#2 OpenCart
If there is one simple platform for startups, then it is OpenCart! This is the reason it is exceptionally popular amongst small retailers or the home-based ventures. Easy backend functionality, extensive feature plugins, unlimited products capacity and less server load are few of the perks bestowed by OpenCart.
#3 Shopify
It comes as a befitting platform for eCommerce stores that simultaneously wants focus on mobile shopping and also social shopping. Easy integrations, lightning-fast loading speed, versatile payment gateway integrations, SEO features, direct social selling are the key features Shopify offers.
#4 WooCommerce
Those who are at ease with WordPress, then WooCommerce is the right platform for them. Based on the WordPress, it is easy to install and start and hence developers will charge you less. Further, there's a large number of additional plugins or templates and themes of WooCommerce, which will help owners to deck up their stores as per the business category.
#5 ZenCart
The whole reason for putting ZenCart in this list is its user-friendly approach and easy store management. It bears a set of far-reaching tools that offer full-scale customisation options to the owners. Moreover, it focuses on the store security features to safe keep all customers and products information.
For a household person who is new to the eCommerce world with zero technical knowledge, selecting a platform that serves their business interests fully is tough. So, the wisest decision lies in choosing the one that offers best user-experience and inherent SEO features that will help the store outshine on the Google results.
Rob Stephen is one of professed Magento developers in Melbourne, who works at PHPProgrammers, a pioneered company for eCommerce solutions development. It houses a pool of talented eCommerce experts, not only in Magento but other platforms like WooCommerce, Shopify and ZenCart. Follow the Facebook page to have more insights on our services, markets we cover and solutions we offer.
Start Your Own Online Business- Top Reasons Why You Should
It isn't easy to start an online business. Some people may lie to you and say it is the easiest thing they have ever done, but they are being at best unrealistic. Running an online business is as the name implies, "a business that is online". So there are certain rules you must follow in order to earn cash online (and do it the right way).
Even though there are challenges to running a business online there are benefits to it as well. In my view it is better to start a business online. Below I have listed some of the top reasons I believe this to be true.
The Traditional Way To Get Cash Is Becoming Outdated
There are a lot of people who have great ideas, but can never seem to the get them off of the ground. Many times this is due to lack of resources or the ability to properly fund their business. With the traditional business model there is normally a substantial investment. An internet business does not require this major investment (though there could be a small one).
Using the example of a brick and mortar store an owner must invest in their business only to have their money at times locked in the business itself for years. Many times it takes years for the store owner to recuperate their entire investment. With an online business model you would have less overhead and other means to store your inventory (such as drop shipping or as an affiliate). This means that inventory is not a requirement allowing you to ship product upon demand versus investing in the goods upfront.
Each Industry Dictates It's Threshold To Make Money
Certain industries require you to invest money to make money. Depending upon the industry itself starting small may be out of the question. The reason? In order to compete you must be competitive. To be competitive in the traditional sense may require a significant investment of funds from the beginning. This is not even mentioning physical location(s), staff and security issues.
However, a home based business that exists on the internet can grow as you grow. We all want to grow. With a smaller investment you can leverage your advantage for greater profits. If staff is required, the positions are minimal and physical security becomes one less thing for you to worry about (especially if you are an affiliate or you don't house your products in-house).
The Internet Is Becoming The Standard For Communicating A Business
The day is coming where if you're not online you don't exist. Even traditional brick and mortar organizations are now vying for a presence on the web.
The level of innovation new technologies are providing the entrepreneur online are endless. You are limited by your imagination and ambition.
With the internet you can make as much or as little as you want. This is determined by your willingness and effort to take your business to the next level. Will you press forward the wheel of innovation a success and become the next internet millionaire (or billionaire)? Or maybe you're not as ambitious and are only looking to take care of your needs (and maybe your families too)? An online business can provide you with this ability.
If you are serious about taking the next step and take the quick path to getting your online business off the ground (and making you money), get my new quick start guide here now!
I am serious about my internet business, and thankful for the time you have taken to read this article. If you are serious about beginning an online business then I recommend my Internet Business Quick Start Guide. Get your kit here now.
It is well known that as things stand, the majority of South Africans will not have enough money to sustain their current standard of living in retirement.
Recent increases to value-added tax and the fuel levy, among other things, have worsened the outlook for many.
Retirement savers would do well to avoid fairly common investment mistakes, according to chief executive officer at 10X Investments, Steven Nathan.
Here are the 10 mistakes retirement savers frequently make, and how to avoid them:
Mistake #1: Saving too little
The number one reason most people miss their retirement goal is because they don’t save enough.
“No rocket science here,” says Nathan. “You can’t save like a pauper and then expect to live like a prince in retirement.”
The basics of a successful model for retirement is that people should save 15% of their gross salary throughout their working life (an average of 40 years) and invest in a balanced high equity fund that charges low fees.
Mistake #2: Paying high fees
Fees matter a lot more than most people imagine, says Nathan. In the context of a 6.5% real return (that is after inflation), every 1% paid in fees reduces the return by more than 15%.
If investors are paying 3% in fees the return will be reduced by 45%, which means that more than half of the real annual return is lost to fees.
When the effect of compounding, where you earn a return on your return, is included the negative impact can be devastating.
Nathan urges investors to understand the fees they are paying, and to look for a low-cost provider that charges no more than 1% in total annual fees.
Mistake #3: The wrong asset mix
Choosing an asset mix that mirrors personal risk tolerance, such as conservative or risk averse, but is not appropriate for the investment time horizon can dramatically damage a retirement outcome.
"It is critical to grow your savings at a high rate for the majority of your savings period, which is why you should be invested in a high equity fund," said Nathan.
"A lower growth portfolio would be insufficient in the context of a 40-year savings plan, based on a 15% savings rate."
A life-stage solution, where one can automatically be switched to the appropriate portfolio as the time horizon changes, is a simple and effective solution.
Mistake #4: Investing in an underperforming fund
Nathan said that, when it comes to retirement investing, it is more important to eliminate the downside risk and reach the minimum savings goal than to entertain upside risk in the hope of overshooting the savings goal.
"No one should be gambling with something as important as their retirement savings," says Nathan.
Mistake #5: Emotional switching
Chopping and changing funds or asset classes, especially during periods of market turbulence, often leads to buying high and selling low.
Investors should rather stick to their plan and avoid the temptation to switch or try to time the market.
Mistake #6: Inadequate diversification
If you are over-invested in one asset class or security, you assume concentration risk, the risk that one investment will have a disproportionate impact on your savings outcome. As a retirement investor, you cannot afford the downside risk as it may ruin your pension.
Nathan says: “Remember, it’s about reaching your goal with the lowest possible risk; it is not about speculating your way to a dream existence.”
Savers should invest in various asset classes (equities, bonds, property and cash), each providing exposure to many different underlying securities, held across different currencies (local and international) and regions (for example, developed and emerging countries).
Mistake #7: Saving outside retirement funds
Tax-free deductions and investment returns can potentially increase the value of your retirement savings by up to 30%.
And you score again because your retirement income is almost always taxed at a lower average rate than the marginal tax you saved on your contributions.
Mistake #8: Starting to save too late
Few people in their 20s worry about retirement but, ideally, we should start saving towards retirement from our first pay cheque. We should keep it up throughout our working life (around 40 years on average).
Nathan says it is important to remember that contributions are only one source of your future retirement income. The other is the net investment return you earn on your contributions.
“The sooner you start contributing to your retirement fund, the longer your money has to grow.”
Initially, Nathan adds, the returns add only a little to your total pot, but once compounding (earning a return on your return) kicks in, the growth will pick up and continue building momentum.
“The effect is much like a snowball rolling down a mountain, until the compounded investment return totally overwhelms your contributions.”
Mistake #9: Cashing in savings on changing jobs
Not preserving what has already been saved is a very common mistake in South Africa: up to 80% of fund members have at some point cashed out their savings when they changed jobs.
Not preserving is like starting late: people lose not just the accumulated savings, but the return on those savings for the remainder of the savings term.
The foregone return becomes a big number when a fund is cashed in 30 years ahead of time.
Mistake #10: Underestimating how much money is required
Using a quality retirement calculator (based on accurate inputs and assumptions) provides a good sense of where savers stand relative to their goal, and what they could do to improve their savings outcome.
“When it comes to retirement planning, various factors are beyond your control, such as the macroeconomic environment and stock market performance, which makes it even more important to understand and control the many factors that you can,” says Nathan.
Steven Nathan is the chief executive officer at 10X Investments.
