Monthly Archives: October 2014

Top Tips for Forex Trading

Whether you are new to investing or a seasoned pro, Forex trading offers new possibilities in a market that remains largely untapped for most investors.  Despite being the largest investment market in terms of volume, very few investors have money in Forex trading market.  That is a shame, as jumping into Forex trading can provide a big payoff – and getting started is much easier than you think.  Consider these top tips.

Know the rules.  Forex trading has no central authority that regulates the trades or guarantees results.  There is no agency with which you can dispute an error.  So it pays to know the rules when it comes to investing.  Fortunately, there is a way to make this trading far more trustworthy – become a member of the National Futures Association, and you will be working with highly reputable institutions.  Knowing the rules also means realizing that this is a different playground than the stock exchange.  There are no limits and there is no commission.  Yes, seriously.

Go easy at first.  Pick a pair and get started.  You don’t have to know everything there is to know about currencies to get started.  The majority of trades are only done with a few major currencies, so chances are extremely good that you already know a little about those to start with.  That said, pick your pair of currencies, say, the US dollar and the Japanese yen, and stick with that for a while until you get the hang of how trading works.  Track your results.  Learn to read your results before you move on to other currencies.

Start small.  This piece of advice works well whether you are trading in the currency exchange or the stock market.  Start small by never investing money you cannot afford to lose.  You can and will make rookie mistakes.  But those will teach you how to play the market more effectively.  Still, consider it your “play money” – not the mortgage payment.

Understand how leverage works.  One of the brilliant things about Forex trading is that you can leverage your position.  This means you can actually speculate on more money than you have to put down as an investment.  The pay out can be incredible.  On the other hand, if you don’t take the time to understand leverage, your losses can be unnecessarily bigger.

Bottom line?  Take the time to learn the basics and get started.  You have a lot to gain.

Using Returns Management Strategy to Improve Reverse Logistics

For every company large or small, it is an inevitable fact that as a marketing strategy, they will do everything to minimize risks, decrease the costs of goods and services without compromising on the sales target. Reversal logistics is therefore the process of repossessing products or components for the purpose of recapturing value or appropriate disposal. It denotes the operational process of reusing products and materials.

Logistics

While reverse logistics involves storage, transportation, handling, repair, repackaging, inspection and customer service, the very first step towards implementing the process is product retrieval. Second, the quality and quantity of variety of retrieved products is coordinated with other distributors and consumers after which the product is ferried to a central location for inspection and sorting. By now there are processes in place already to determine which products can be reused, remanufactured, resold or disposed off.

In today’s economy where it’s hard enough to facilitate the forward flow of goods in the market, it is even harder to retaliate on a backward flow resulting from defective cum returned products. Instead of approaching returns as a threat to your company’s performance, it would be in your best interest to treat it as an anticipated risk.

How? By using a tactful returns management strategy. This means taking advantage of the platform instead to foster stronger relationships with clients by providing the after sale service which ultimately spells reliability and commitment to quality service delivery. So there you go, not all is lost!

Ultimately, we cannot forgo the costs of returns on the company’s finances. This product was already channeled to its destination and incurred transportation costs, then it was rejected and channeled back to your company before a replacement was sent back to the customer. The transport expenses triple the bet and to add vinegar to the soar wound, the whole process was baptized a failed service encounter by the client. So it happened, but this is where we not only anticipate future happenings but also thoroughly manage the inevitable returns.

Here are few basics to consider ensuring an effective returns management:-

  • Involve the right people from the start from operations, customer service, logistics, accounting and finance who understand the cross functional nature of returns and who can effectively invent a reversal mechanism for maximum effectiveness.

 

  • Incorporate gate keeping mechanism which involves screening procedures that help identify how and which are the products that succumb to rejection. This however requires an in-depth understanding of the cost of return in relation to the product value.

This coupled with quality control initiatives by the company in the manufacturing and distribution processes can help minimize returns big time.

 

  • Effective operational policies and practices should also be developed to handle the returns. Determining the return’s disposition as early as possible helps maximize the return value of the product. The products to be resold can hence be immediately channeled through the forward supply chain and the one to be remanufactured identified so plans can be initiated right away to help maximize the best value recapture of the product.

 

  • The operational team will also need to pursue value and efficiency goals and employ the quality first approach to help align the demand and supply cycle appropriately which will ultimately minimize the needs for the product returns.

This write-up was brought your by the guys from UCS, UK number 1 courier and logistics service.  UCS has many years of logistics and courier experience and aims to provide their clients with unequalled value and service.

Ten tips for building your business around branding

Though it has become something of a dirty word in the anti-globalization movement, the process of branding benefits the consumer as well as the business behind it. A brand is, in effect, a seal of approval from a company. It gives the consumer an idea of what level of quality they can expect across a range of products.

A brand also helps distinguish between otherwise similar items. Creating a strong brand doesn’t happen overnight, but through a long process of consistent performance and marketing.

1. Design a logo

A logo gives a visual clue about what the business does. While some are eye-catching, others are intentionally understated – it all depends on the image that the company wishes to portray. While the cost of hiring a branding company are beyond the budget of most small businesses, it’s worth splashing out on a graphic designer – at least for the creation of the logo.

2. Create image materials

Once the logo (and associated font or color scheme) has been decided on, apply them consistently across the company. This can include getting stationery printed, vehicles re-sprayed, brochures reprinted, company offices repainted, new uniforms, and an updated website.

3. Develop a mission statement

Compose a document that describes what the company does and how it provides value to its customers.

4. Write a tagline

Come up with a tagline that succinctly describes the company – in effect, a summary of the mission statement in as few words as possible.

5. Decide on target markets

Decide who the brand will be targeted at. Set realistic goals and devise a timetable to monitor progress. Bear in mind that some target markets will only be reachable through the conquest of others.

6. Write press releases and articles

Keep the world informed of the company’s activities by writing press releases and industry-related articles for the media, internet and the company’s own website.

7. Get involved with the community

Attend local events or provide them with funding or prizes. If the budget allows, host an event or kick-start a local initiative.

8. Create a newsletter

Write a weekly, monthly, quarterly or yearly newsletter and encourage consumers to sign up for it.

9. Update the company website

Add useful information to the company’s website at least once a month. This will keep it fresh for search engines and encourage consumers to return.

10. Network

Get to know local businesses and organizations in the surrounding area. Develop good relationships with those who have potential for future partnerships and cross-branding drives.

Professional Fulfilment Services Can Help A Business Increase Profits

Over the years the business world has been changing, especially the retail world who have been looking at ways to increase profit while reducing running costs. With more people shopping online, the big retail stores are now taking full advantage of selling online while smaller retailers believe they do not have the outlay, manpower or experience to sell on the world wide web.

A lot of smaller retailers have been missing out on extra revenue and the pot of gold that the internet can bring. With small business owners lack of knowledge of operating an online store and dealing with the delivery of stock, and their lack of understanding of how beneficial professional Fulfilment services can be, small businesses are missing out.

Fulfilment services act like partners of a business. Instead of a small retail outlet worrying about the shipping and the storage of stock, fulfilment services take care of this side of the business and allow the retailer to carry on doing what they do best. By using a professional fulfilment service, a retailer can increase their profits by selling online without the stress of making sure customers receive their products on time.

Reasons to use a professional fulfilment service include:

1. Increase profits by selling online

2. Lower Shipping Costs

3. Grow New Markets and increase customers

4. Increase stock and reduce purchase costs

5. Concentrate on selling while Fulfilment professional concentrate on shipping

It does not matter what size a retail business is, from a big shop on the high street to a one person band working from home; professional fulfilment services can help a business succeed. In fact if you are working from home then using fulfilment services has a wonderful effect on the amount of space that your business takes up at home!

For businesses unaware of how a professional fulfilment service can help them, it is important to arrange a meeting and discuss their needs. A professional fulfilment company will work with a business owner to help them expand their business and remove the stress of selling online.

Ecommerce

Ecommerce is what everyone and anyone who sells online is doing. Whether you’re selling your skills as a freelance creator or selling a physical product, you are engaging in ecommerce. Fun, isn’t it?

Well, yes, until you start becoming successful… Then suddenly you find yourself juggling too many things all at once – orders to fulfil and publicity to run, a social media presence to maintain, marketing, creation or sourcing of goods.

If you are a seller of physical goods, this is the point where you have decisions to make. You can choose to hire in specialists, or outsource areas as you need. The good news for you is that outsourcing can also include the provision of your customer service, order fulfilment and delivery requirements. Yes, there are companies out there who will operate as your warehouse and courier. The staff will deal with the order, pack the goods and arrange delivery for you. It’s similar to the way the online grocery shopping experience works where the next thing you know after placing the order is that the driver is banging on your door with a crate full of freshly picked and packed groceries. Using a third party company for your fulfilment and delivery may sound like the expensive option, but in fact such firms can offer you more effective cashflow, higher profit and greater competitiveness. They have the knowledge and network to be able to streamline your order process, meaning your customers pay less and wait a shorter time for their delivery. That can’t be bad.

Ecommerce specialist companies will take the headache out of that middle ground between being a small business in expansion and being a big enough business to afford your own warehouse and staff. These experts will handle all aspects of having the order that the customer placed delivered to their door. They will also often use electronic scanners to ensure that the correct product has been picked, which then allows use of intelligent stock systems to alert you when stocks are running low. In addition, these firms will provide the necessary paperwork both to you and your customers, offer quality control services, handle the inevitable returns and generally make something that could be a monumental headache look simple, smooth and streamlined.

Ecommerce companies are logistics specialists, skilled in delivering the right item to the right person at the right time. They will be able to handle the arrival of containers full of your new stock from around the world, organising the goods in their warehouse to ensure maximum efficiency of picking and packing. They will therefore also be able to handle orders of all sizes, from the householder needing three of something once in a blue moon to the larger company ordering in bulk for palletised delivery on an HGV. Some of them may well even be able to operate on your behalf if you own a company based elsewhere in the world, negating the need for a physical office location in the country. Now that’s bound to save money, especially if you want to try out a new market before committing to a branch there.

In addition, if you use one of these ecommerce specialist companies you can often take advantage of their status as bonded warehouses. That’s when a supplier buys in bulk and defers import duty and other payments on the goods by storing them until they are needed. Bulk ordering can occur because the exchange rate is in your favour as the purchaser, or because you are stocking up for a new season or a product launch. The ecommerce company then deals with all the paperwork at a suitable time, while you know that the stock for the season ahead is already here and ready to be shipped when needed.

Many ecommerce firms also offer a full customer service experience as well, so if you are operating outside the country where you are selling, that means your customers who ring in are dealing with people in their own language, based in their own country. Given many people’s attitude to overseas call centres this can only be a good thing, especially when paired with the cheaper ranges of goods which are so popular these days.

Companies like these keep courier, carrier and delivery firms in business, simply through the sheer volume of items leaving the warehouse on a daily basis, safely packed and correctly addressed to individuals. It is likely that the big ecommerce firms will have preferential postage or delivery rates negotiated with the big courier and mailing companies too, which will allow you to offer your customers the coveted free postage and packing option on goods over a certain value. No matter whether you are the hard-pressed customer service manager of a distributor selling through an eBay shop or someone who has a moderately successful online side to your bricks and mortar location, a dedicated ecommerce firm should be on your list of options to explore.

How to Use Social Media to Market Your Business

Іf уоu аrе wіth оnе оf thе Dіrесt Ѕаlеs соmраnіеs аnd trуіng tо buіld а роrtіоn оf уоur busіnеss оnlіnе, іt іs vеrу іmроrtаnt tо gеt іnvоlvеd wіth рорulаr оnlіnе sосіаl mеdіа nеtwоrkіng sіtеs lіkе Тwіttеr.соm among many other, similar social networking sites. Whеn nеw busіnеss рrоfеssіоnаls stаrt mаrkеtіng thеіr busіnеssеs оn Тwіttеr, thеу оftеn mаkе а bіg mаrkеtіng mіstаkе bу twееtіng оut mаssіvе аmоunts оf busіnеss sраm mеssаgеs іnstеаd оf trуіng tо nеtwоrk аnd gеt tо knоw thеіr fоllоwеrs.

Whеn реорlе јоіn sосіаl mеdіа nеtwоrkіng sіtеs, thеу dоn’t wаnt tо bе sраmmеd 24/7 wіth busіnеss mеssаgеs. Тhеу dо wаnt tо lеаrn mоrе аbоut thе соmраnу оr busіnеss thеу аrе fоllоwіng аlоng wіth thе рrоduсts уоu аrе mаrkеtіng…but…thеу аlsо wаnt tо еngаgе іn mеаnіngful соnvеrsаtіоn wіth thаt соmраnу’s соnsultаnt whо іs dоіng аll оf thаt Тwееtіng. Іn thе саsе оf Dіrесt Ѕаlеs…thаt mеаns thеу wаnt tо еngаgе іn mеаnіngful соnvеrsаtіоns wіth YОU.

Whеn іt соmеs tо mаrkеtіng уоur busіnеss оn Тwіttеr, hеrе аrе а fеw іmроrtаnt tірs thаt уоu shоuld knоw.

1. Тrу tо еngаgе уоur fоllоwеrs bу аskіng thеm quеstіоns оr аskіng thеm fоr thеіr оріnіоns оn thе рrоduсts уоu аrе trуіng tо mаrkеt.

2. Dоn’t mаkе уоur Тwееts аll аbоut busіnеss аll оf thе tіmе. Міх thеm uр wіth sоmе gеnеrаl сhіt сhаt tорісs. Yоu саn dіsсuss nоn-соnfrоntаtіоnаl сurrеnt еvеnts оr dаіlу lіfе tорісs wіth уоur fоllоwеrs.

3. Dоn’t hаvе еvеrу Тwееt соntаіn а lіnk tо уоur wеb sіtе. Тhаt іs vіеwеd аs lіnk sраm аnd іs оftеn rероrtеd bу fоllоwеrs tо Тwіttеr аs sраm.

4. Оffеr uр sоmе gеnеrаl Dіrесt Ѕаlеs, hоmе busіnеss, nеtwоrkіng, mаrkеtіng, еtс. tуреs оf tірs thаt уоu fіnd bеnеfісіаl thаt уоu thіnk оthеr’s wоuld bе іntеrеstеd іn. Yоu саn vіsіt оthеr wеb sіtеs thаt оffеr hоmе busіnеss rеsоurсеs аnd twееt оut lіnks tо thоsе аrtісlеs іf уоu аrе nоt grеаt аt shаrіng уоur оwn busіnеss tірs. Іn аddіtіоn, іf уоu еnјоу grеаt іnsріrаtіоnаl busіnеss quоtеs, twееt оut а fеw оf thоsе а dау tоо!

5. Νеvеr sеnd оut оut dіrесt mеssаgеs tо fоllоwеrs wіth уоur busіnеss іnfоrmаtіоn іn іt unlеss thаt sресіfіс реrsоn hаs аskеd уоu fоr thе іnfоrmаtіоn.

6. Νеvеr sеnd @ mеntіоns tо реорlе whо аrе nоt fоllоwіng уоu аdvеrtіsіng уоur рrоduсts оr sеrvісеs. Тhіs іs соnsіdеrеd tо bе @ mеntіоn sраm аnd іs rероrtеd bу fоllоwеrs tо Тwіttеr. Іf реорlе wаnt tо fоllоw уоu оr thеу wаnt уоur іnfоrmаtіоn, thеу wіll rеquеst іt frоm уоu.

7. Маkе surе уоur рrоfіlе раgе іs fіllеd оut соrrесtlу wіth а wоrkіng lіvе lіnk tо уоur wеb sіtе оr blоg. Маnу tіmеs whеn І сlісk оn рrоfіlе раgе lіnks thеу аrе brоkеn аnd іnсоrrесt. Іn аddіtіоn, уоu wіll nееd а busіnеss lоgо оr а рhоtоgrарh оf уоursеlf tо usе аs уоur аvаtаr. Νо оnе еnјоуs sееіng thе Тwіttеr stаndаrd bluеbіrd аvаtаr whеn thеу аrе tаlkіng tо sоmеоnе.

8. Dоn’t bоmbаrd уоur fоllоwеrs wіth tоо mаnу twееts! Реорlе wіll quісklу unfоllоw sоmеоnе whо sіts оn thеrе 24/7 sеndіng оut hundrеds оf mеssаgеs.

Save Lives With Safety and OSSA Training

General, specific and OSSA safety training for employees is of the utmost importance for several reasons. It can save lives in the event of an emergency and it can teach your employees how to use equipment safely. It is often illegal to allow workers to perform certain tasks or work in certain environments without safety training. Finally, safety training that is implemented on-site is going to save you money. If you have a business in Edmonton, you need safety courses in Edmonton that will provide your employees with the knowledge they need.

You can find certified safety training courses online through sites like www.isafety.ca. Whether you need CPR, fire or safety training Fort McMurray, you will be able to find the necessary courses to get your business safe and legal. You may even find that you can have trainers come directly to your place of work so employees get on-site training. Some courses are even available via computers, though you will want to determine the best course of action based on your requirements.

Since the Industrial Revolution, industrial accidents have happened in every industrialized country. At first, they occurred at an alarming rate. Even today, they are too numerous. However, safety training and implementation of safety equipment have saved countless lives. Now that there are standards in place, laborers, engineers, contractors and many others can work with the knowledge that their health and lives matter.