Why Starting An Online Business Is A Good Investment

Why Starting An Online Business Is A Good Investment

If you’ve always wanted to start your own business but are too afraid to take a huge risk with the investment, then an online business model might interest you.

There are many different ways you can run an online business, and there’s bound to be one that fits your needs and investment range.

Unlike with most business models, you can take much smaller risks with online models, and put in a much smaller investment – if you take the right opportunities.

Starting An Online Business Is A Good Investment

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It’s much cheaper to set up and run

You don’t have to go all out and rent any properties for your online business to get some recognition, you can go ahead and set up shop in an already established online market.

Take Amazon, for example, everyone knows Amazon, and all of the shops Amazon owns are online stores.

You can use these sites to sell your products, and you’ll benefit from their popularity, meaning you don’t have to go above and beyond trying to direct traffic to your items. If you’re only trying to sell a small number of products, or not trying to reach a huge audience – this is a great option for you.

It’s worth knowing that when you sell items on these sites, you’re not making 100% of the profit, as it costs to run your store on an already established platform.

Sites like Etsy charge even more if the product you’re selling was found through an advertisement that was put up on another page.

Even if you have your own website set up, you’re still not going to be paying as much as you would if you needed your own property. You can have a site hosted nestify.io/woocommerce-hosting/, and there are a lot of services that will build your site for you if you’re not happy with the website-building services out there.

It requires less input

If you’re not yet ready to sell your life away to your own business, then an online business shines here. Once you’ve got things up and running, you don’t need to be giving your online store your full attention. If you were to be working on a shop floor – you would have to be active all of the time whenever a customer comes in, but that’s no longer the case with online shopping.

A lot of orders can be handled automatically, and depending on your business model, you may not even come into contact with the products that are being sold.

It’s a little less hands-on, which is a turnoff for many entrepreneurs, but you can continue to maintain your social life while trying to run your business at the same time. It’s not going to be idiot-proof, but there’s a lot more room for mistakes when you don’t have to interact with customers as often.

If you’re new to the idea of running a business, the online route may feel a lot more comfortable for you. There’s a lot less pressure on your end, and you have a lot less to manage in terms of assets related to your business.

Ever thought of owning an online business but never had the courage to take the plunge? Here's why starting an online business is a good investment.

Upskilling is cheap or free

You don’t have to know everything there is to know when you’re just starting out.  You can take it one baby step at a time.

And virtually everything you need to know you can learn on YouTube free of charge.  Sure, it might be a good idea to take some paid courses but there is so much free information out there too.

Once you’ve chosen a direction for your online business you can look into who’s out there doing what you’d like to be doing and model what they are doing.  Many top online business owners are more than happy to share their knowledge and their business has become teaching other online business owners how to succeed.

Everything you learn is an investment in yourself

As you equip yourself with knowledge and learn new skills, you’ll find you gain confidence and know-how in more ways than you can imagine.

These skills can also be used for all your future endeavors.

No learning is ever lost, especially when it comes to being an online entrepreneur.   Even if you don’t succeed at first, you gain valuable experience.

Over to You

Have you ever thought of starting an online business but lacked the courage to take the plunge?

We trust you feel more secure now that you know why starting an online business is a good investment.

How to Step Up and Stand Out with Confidence, Courage and Creativity

Georgia Varjas is the bestselling author of The Rule Breakers Guide To Step Up & Stand Out and Rule It! How To Step Up & Stand Out.

In our recent interview, she divulges how she developed her 3 C’s – Confidence, Courage and Creativity during her career in showbiz and how you can use them in your life.

How to Step Up and Stand Out Georgia-Varjas-Style

How to Step Up and Stand Out with Courage Confidence Creativity

Georgia:  I think my experiences in showbiz, but particularly in the music business gave me these three very powerful words, which I write about and speak about and are in my books:

  1. Confidence
  2. Courage
  3. Creativity 

I call them the three big C’s. 

Being in the music business, you had to be confident. You’re going to go up on stage and you’re going to play from your heart sometimes from memory, but mostly improvised. 

So you had to have confidence. You had to have courage and you had to be creative with it. 

And so there were very big lessons in life, not just doing my art, my music, but also communicating with people in show business in the music business. Cause it was tough as a woman.  It was very much part of my life to develop these wonderful three big C’s as my skills.

Lauren Kinghorn: Would you like to give us three tips that you would give a young fempreneur, woman entrepreneur, who is just starting out, how to step up and really shine.

Georgia Varjas:  I think one of the most important things is to recognize that we have two fabulous communication tools available our voice and our pen.

Georgia Varjas is the bestselling author of The Rule Breakers Guide To Step Up & Stand Out. In this interview, she gives 3 best tips on how to step up and stand out. #howto #stepup #standout #interview I encourage young women to develop that confidence, the courage and the creativity to use their voice and their pen to:

  • spread their message
  • their point of view
  • their expertise
  • their experience
  • their wisdom
  • their knowledge

Use these powerful tools and learn to redefine confidence for yourself.

Because for women, it is quite different, especially courage. Courage is not about Spider-Man and firemen. It’s about how we as women define our own type of bravery. It’s not about saving lives. It’s a very special thing. And I think women need to really redefine that.

Creativity, yes, we are very creative but we can also think creatively and that is a powerful message for young women.

I think the second tip I would offer is about decision-making. We’re not really taught or encouraged to make big decisions in our life. We make little ones like what we should wear and what we should drink and which road and bus to take.

But the big decisions in life, we often hesitate and turn to other people for expert advice. When we know if we tuned into ourselves and learned to make good decisions for ourselves, had more self-confidence, courage, and creativity, we would make better decisions and stronger decisions and recognize that we have the ability to do that.

And the third thing is very much about self-belief and self-love and bigging yourself up. 

Some cultures frown upon boasting and showing off when you’re talking about yourself, but self-love and self-belief are crucial.

Nature does it all the time, she shows her most beautiful colours. Why shouldn’t we?

And when you’re selling something, you’re going to sell it in its most beautiful and perfect condition. So why shouldn’t we be showing and sharing our talents and skills in the most positive way? 

So confidence, courage, creativity.

You can find the rest of this interview over on Fempreneurs Unite

And more below…

Lauren: What do you do for a living? 

Georgia: I am a Book Writing Coach

Lauren: What is your zone of genius?

Georgia: Helping my clients see their genius and the bigger picture.  My USP is I have experience in many genres.

Lauren: How did you come up with the idea?

Georgia: It was staring me in the face! 

I have been writing plays, poems, short stories, scripts for speakers MC’s and myself and of course, I have published 4 books and contributed to 6 anthologies.

Lauren: What has been the number one highlight of your career? 

Georgia:  So many. 

As a creative person, I have moved from writing and producing plays to spending many years as a professional saxophone player and as a  Spoken Word artist.

I loved the music business, I loved my Spoken Word career and now watching writers turn into satisfied and fulfilled authors is just as exhilarating for me.

Lauren: What has been the greatest challenge for you to overcome in your career?

Georgia:  The glass ceiling

&

Lauren: Do you have any daily rituals to maintain a work-life balance?

Georgia:  I can’t sit for too long. I have to get up and move my energy.

Either I walk around the garden and snip a few plants, or do some stretches, lunges or downward dogs…dance a little and even do a household chore.

Lauren: Do you have a message you would like the world to hear?

Georgia:  Several! Our voice and our pen are our 2 most powerful tools of communication. Grab your confidence, courage and creativity and use them.

Lauren: Is there a book that has had huge significance or meaning in your life?

Georgia:  I re-read and dip into Danielle LaPorte White Hot Truth 

Because she is discerning and not judgemental, she has humour and experience and shares generously. She talks about the paradoxes of wisdom and I wrote about them a lot myself in my books. Use And instead of But.

She says…Don’t just get what you want, BE what you want.

I like that!

Lauren: What advice would you give someone just starting out as an entrepreneur? 

Georgia:  Keep learning and listening and turn all your mistakes into future fun stories.

Lauren: Is there anything you wish you knew when you started out as an entrepreneur?

Georgia: Not to be scared of tech stuff!!!

Lauren: What have you gained by becoming an entrepreneur?

Georgia:  I realise that the more I learn, the more I have to learn and that gives me the energy to grow.

And, I believe it is super important for women to be financially independent.

Lauren: Who has been enormously helpful to you? 

Georgia: My VA!

Honestly, all the amazing things she does behind the scenes for me!

I have always loved working in a team, so first credit goes to all team members paid and unpaid.

And people often come into your life just at the time you need more guidance or knowledge.

Lauren: Do you have mentors in business?

Georgia: With all the member groups and networking events online, I have been involved in I have come across some wonderful brainstorming sessions…these people, mostly women are my real mentors.

Lauren: Are there any courses or studies you feel have been essential to your success? 

Georgia:  Having first hand and recent experience as a writer and author has given me essential professional knowledge and wisdom for teaching and training new authors.

Also, the Women’s Writers Circle, which is a group program I run for women writing their first book.

It is absolutely inspirational to me, not just how they support each other but how they offer their best wisdom to each other too! 

Book a Virtual Seat on Georgia’s Women’s Writers Circle

Work with Georgia Varjas

Lauren:  If there was any way I could help you, what it would it be? 

Georgia:  I think you already are Lauren.

When we give generously and share our platforms with each other, you never know who is going to benefit from hearing or reading what you offer.

Lauren: Who is your target market? If I were to give you a referral, who would I be looking for? 

Georgia:  Women (or men)  with a message to share, with expertise, experience and wisdom that could really make a difference to someone else’s life.

And of course a few good stories.

How to Work with Georgia

Georgia has two Coaching packages available for those who are ready to write their books.

    1. The Premium Package, a 12-week one-on-one book writing program
    2. The Women’s Writers Circle- an 8-week group program.

Visit Georgia’s Website

https://georgiavarjas.com/

Follow Georgia

Follow Georgia on LinkedIn

Follow Georgia on YouTube

If you’re ready to write your book, schedule a free book planning call with Georgia.

Schedule a Call with Georgia

Enjoyed this interview? 

Check out our previous featured digital entrepreneur, Elizabeth Batalla and Learn How to Level Up Fast

Learn How to Level Up Your Life Fast with Elizabeth Batalla

Learn How to Level Up Your Life Fast with Elizabeth Batalla

Elizabeth Batalla founded The Institute for Achievement and Excellence.

Elizabeth has distilled her 30 years of experience in corporate management and training into her flagship online program, “Achieving Professional Excellence”.

The Institute for Achievement and Excellence

Course Details and GIVEAWAY

Find out more in our interview below or go to the full podcast on Fempreneurs Unite.

Level up Your Life and Be Unstoppable

Lauren:  In your own words, what do you do for a living?

Elizabeth: I help women to be unstoppable so they can achieve success and fulfilment in their professional and personal life.

Lauren: If you wear many hats in business, which of these do you love most, which takes most of your time and which brings in the most income?

Elizabeth: 

  • Love most: creating amazing content to help inform, instruct and inspire all who access it.
  • Most time: YouTube videos due to the animated content  – current animation technology is great but it still has a long way to go.
  • Most income: It is word of mouth – i.e. personal references.

Elizabeth Batalla – Zone of Genius

Lauren: What is your zone of genius?

Elizabeth: Helping others recognise how attainable achieving their dream(s) actually is, providing practical steps to accomplish it and adding a splash of motivation so they realise living the life they want is not something reserved for the select few.

Lauren:  Do you feel you are operating in your zone of genius in your business?

Elizabeth: Absolutely! It is the reason why I created The Institute for Achievement and Excellence. 

After 30 years in the corporate world and mentoring many along the way, I decided to package my formula for success in a form that is easily accessible to someone with internet access.

Learn how to level up your life fast with Elizabeth Batalla, founder of The Institute for Achievement and Excellence. Giveaway details inside.Elizabeth the Entrepreneur

Lauren: When did you decide to become an entrepreneur?

Elizabeth:   May 2020 – during the early stage of the global pandemic. 

I instinctively felt that the world would not be the same and judging from a couple of months prior to May 2020 – that the fallout would be intense and there would be many who would benefit from what I had stored in my head.

Lauren: Why did you decide to become an entrepreneur?

Elizabeth: To do what I love full-time – help women to be unstoppable through easily accessible, high-quality masterclasses that can completely change their lives and ripple out to the lives of their loved ones.

Lauren: Is this your first entrepreneurial pursuit?

Elizabeth: No. I have tried other ventures but with the intention of doing it part-time. The Institute for Achievement and Excellence is the only venture I have dedicated myself to fully.

Lauren: What prompted you to start your own business?

Elizabeth: I was always interested in the possibility of being an entrepreneur but attempted it more as a hobby. I believe the pandemic was a turning point for many… I am one such statistic. I felt a shift in my priorities – from supporting women part-time as an element of my job description to empowering women full time as my burning passion.

Lauren: How did you come up with the idea?

Elizabeth:  After 30 years in corporate education and mentoring many along the way, there was an unmistakable trend in the type of questions, concerns, desires, guidance needed etc.

Of course, there is an overlap with some of the elements but for the most part, they can be categorised into 9 life areas.

The flagship program – Achieving Professional Excellence – addresses these elements.

Who Elizabeth Serves

Lauren: Who did you have in mind when you started your business? Who do you serve?

Elizabeth: Who I have in mind: Women! Women of all beautiful shapes, colours and sizes.

Although we have come a long way, women still do not enjoy equal opportunities in their professional and personal circles. A woman may not always have control over her situation but she has control over how she shows up in the situation. 

The woman I have in mind is someone who is keen to be the best that she can be, knows that investing in herself never ends and takes control of the outcomes in her life despite the challenges of inequality she faces.

Who I serve:  Predominantly women from 25 to 50 who want to achieve success in their personal and professional growth, want a holistic approach to the process and have minimal time to accomplish it.

Career Highlights and Challenges

Lauren: What has been the number one highlight of your career?

Elizabeth:  The wonderful feedback from women who have completed the masterclass and are now experiencing a life they thought was only possible for others not for them.

Lauren: What has been the greatest challenge for you to overcome in your career?

Elizabeth: Successfully navigating the world of male-dominated companies as a female…

Lauren: All things considered do you feel it was a good decision to become an entrepreneur?

Elizabeth:  Absolutely! I wouldn’t have it any other way.

Daily Work Schedule and Rituals

Lauren: Where do you work most days?

Elizabeth:  I work from home because I like feeling comfortable and having access to all I need when I am working.

Lauren: How many days per week do you work on average?

Elizabeth:  Every day except on Sundays (from noontime, onwards). I step away from technology completely.

Lauren: How many hours do you estimate you work per day on average?

Elizabeth:  At the moment – 10 hours 😉

Lauren: Do you have any daily rituals to maintain a work-life balance?

Elizabeth:  Absolutely! I follow what I teach. I strive for balance. I have rituals in the morning, mid-day and night. I ensure that by the end of each week, I have given adequate time to all 9 of my life areas.

Passion, Vision and Message

Lauren: Do you feel you are living your passion?

Elizabeth: Yes… and sharing it with the world!

Lauren: Do you feel you have already created your best work?

Elizabeth:  I have… and more of my best is yet to come! 

Lauren: If you were to die tomorrow, would you be at peace knowing you had lived a full, happy and meaningful life? Or would you feel you were dying with your song unsung?

Elizabeth:    I am singing my song as we speak.

Lauren: Wonderful!  Do you have a message you would like the world to hear?

Elizabeth: Regardless of your starting point, your dreams are possible to achieve so never, ever give up on them.

Elizabeth Batalla – Advice for New Entrepreneurs

Lauren: What advice would you give someone just starting out as an entrepreneur?

Elizabeth:   The number one piece of advice is: 

Don’t wait for the ideal time to start what you need to do to get where you want to go!

There is never a perfect time to take action so let go of the notion that today is not the ‘right’ day. The biggest obstacle is simply getting started. 

Start where you are, use what you have and do the best you can… but JUST GET STARTED.

Lauren: Is there anything you wish you knew when you started out as an entrepreneur?

Elizabeth: My attributes of dedication, resilience and patience will be tested – CONSTANTLY.

They are required to maintain the momentum, recover from disappointments and control expectations because sustaining success as an entrepreneur is a race for the marathon runner, not the sprinter.

Related: Top Ways to Empower Women in Business

Lauren: What have you missed out on by becoming an entrepreneur?

Elizabeth: The luxury of working 9-5.

The day of an entrepreneur starts earlier, ends later and spills over into the weekends.

Lauren: What have you gained by becoming an entrepreneur?

Elizabeth: Patience, resilience and establishing clear boundaries.

Lauren: Do you feel you chose an easy path or a difficult one?

Elizabeth: Definitely a more challenging one. Being an entrepreneur is no easy feat. The highs/lows, successes/failures, mastery/madness – it makes living quite a rollercoaster of a ride.

Hopes, Plans and Fears

Lauren: What are your hopes and plans for this year?

Elizabeth: To help as many women as I can to achieve their professional and personal transformation goals via my masterclasses.

Lauren: What are your fears?

Elizabeth: What I am doing now! It takes a great degree of courage to step off the cliff of your comfort zone, so you can soar to the heights you are destined to reach.  

Tools of the Trade and Mentors

Lauren: Which tools of the trade have been enormously helpful for you?

Elizabeth: Online courses to bridge my knowledge gap. I invest in courses to learn the basics, how to do things correctly from the start, tricks of the trade etc. A lot can be learned from courses at a very reasonable price.

It is time, effort and money-saving. In this way, when I pay for coaches I get more value because the time I have with them is used more for strategic advice rather than basic guidance.

Lauren:  Who has been enormously helpful to you? Do you have mentors in business?

Elizabeth: 

Helpful: Everyone I come into contact with has value because that is how I choose to see others. As a result, I continue to receive help all the time (and I make sure to pay it forward).

Mentor: Not any one person as it depends on my point of focus or gap I am trying to close at the time. 

If you told me a couple of years ago that I would invest in special software and binge-watch how to create animated videos for my youtube channel, I would have thought that maybe you had one too many glasses of Champagne (or whichever drink makes you happy).

Lauren: Are there any courses or studies you feel have been essential to your success?

Elizabeth: Yes – a more in-depth understanding of the various social media and search engine platforms – it’s a challenge to keep on top of changing algorithms and regulations.

Lauren: Is there a book, song or movie that has had huge significance or meaning in your life?

Elizabeth:
There are many so I will share the one that started it for me. I like its simplicity – of the message, of the implementation and of the result. 

It is called:

The Game of Life and How to Play It
by Florence Scovel Shinn. (orig. pub. 1925)
Another honourable mention is: Who Moved My Cheese by Spenser Johnson (orig. pub. 1998)

Spreading the Word

Lauren: If there was any way I could help you, what it would it be?

Elizabeth: To help me spread the word that there IS a proven formula available for achieving success and fulfilment in one’s professional and professional life.

Lauren: Who is your target market? If I were to give you a referral, who would I be looking for?

Elizabeth: Women 25-40, at the operational – mid-management level in their companies or in-between jobs, eager to improve personally and professionally and want to level up their lives (in a holistic way) – fast.

Learn How to Level Up Your Life Fast with Elizabeth Batalla

Elizabeth BatallaGIVEAWAY

Elizabeth is very kindly giving away free lifetime unlimited access to her signature course, Achieving Professional Excellence to one lucky member of Fempreneurs Unite.

The program sells for $599.99 (plus charges) so it’s a VERY GENEROUS gift.

And it’s worth far more to you when you apply what is taught in the program because that’s how you will learn how to level up fast and be unstoppable.

If you’d like to be considered for this wonderful prize, make sure you’re a member of Fempreneurs Unite on LinkedIn (it’s free to join).  And leave a comment below this post or our podcast post saying why Elizabeth and her panel should pick you for the award.

She is looking for someone who is ready to level up in their professional and personal life yet may not be able to afford to invest in herself at this stage.

The closing date for the giveaway will be midnight (UK time) on Tuesday 24th August and we will announce the winner on Wednesday 25th August.

Post Update – 25 August 2021

Announcement – We have a Winner!

Our warmest congratulations to Elize Swanepoel, the winner of our Giveaway.  Elize left an amazing comment on our post on Fempreneurs Unite.

Elize is super excited to get started on Elizabeth’s course, Achieving Professional Excellence.   Thanks so much, Liz for so kindly offering this generous prize.

 

View this post on Instagram

 

A post shared by Lauren Kinghorn (@laurenjeankinghorn)

 

Visit The Institute for Achievement and Excellence

I’m doing this program myself, so I’ll be publishing a full review as soon as I’m finished.  In the meantime, have a look at all course details here: https://courses.achievementandexcellence.com/

Remember that the signature course is a combination of every course Elizabeth has created.

Connect with Elizabeth

LinkedIn   Facebook

Affiliate Disclaimer: If you purchase anything through a link in this post, please assume I have an affiliate relationship with the company providing the product or service that you purchase, and that I’ll be compensated in some small way at no extra cost to you.

How Real Estate Investing Can Boost Your Income

How Real Estate Investing Can Boost Your Income

When you opt for real estate investing, the idea is to put your money to work now so that you have consistent income in the future.

The return or profit you make on investments should be enough to cover the risk you are taking, and the taxes paid.  There are other expenses linked to owning property, like maintenance, utilities, and insurance. Real estate investing can be easy if you understand the basic factors of economics, investment, and risk.

Here are 4 ways real estate investing can increase your portfolio.

4 Ways Real Estate Investing Can Boost Your Income

The idea with real estate investing is to put money to work for you now for returns in the future. Here are 4 ways real estate investing can boost your income.  #realestateinvesting 1. Real Estate Appreciation

This is when property value rises due to a fluctuation in the real estate market. For example, the land surrounding your property becomes more popular and sought after. This can happen if a large shopping centre was to open up in the vicinity.

Or maybe you have made certain home improvements that make the property more attractive to prospective buyers. Real estate appreciation is a complicated issue because of its unpredictability. This means that it is a riskier form of investment than cash flow income.

2. Income Related to Real Estate

This income is commonplace for experts in the real estate industry, like David Ebrahimzadeh. This involves making money from commissions on the properties they have assisted a client in buying or selling. Read more about David’s professional real estate investment services if you are seriously thinking about investing in property.

Real estate management agencies get to retain a portion of monthly rents in exchange for managing and running day-to-day operations. For instance, a hotel management agency might retain fifteen percent of the hotel’s sales for handling day-to-day operations. They usually take care of tasks such as hiring cleaners, front desk staff, gardeners, and laundry staff.

3. Cash Flow Income

This form of real estate investment emphasizes purchasing a real estate property, for instance, an apartment building, and managing it. You then collect monthly rental income from tenants. Cash flow income can also originate from other forms of real estate other than apartment buildings. It could also include office or retail buildings, storage units, and rental homes.

4. Ancillary Real Estate Investment Revenue

For some investors, this could be a significant source of profit. This type of real estate investment income entails things like vending machines in laundry rooms, hotels, or apartment buildings. In effect, they are like mini businesses within a larger real estate investment. This option allows you to collect revenue from a semi-captive collection of clientele.

Related:  Good Strategies Behind Making Money from Properties

 Advantages and Disadvantages of Real Estate Investing

Boost Income with Real Estate

 Advantages:

  • Fewer risk and volatility in comparison to the stock market
  • It could offer a steady source of cash flow
  • You can benefit from loads of tax deductions
  • Properties offer a solid long-term return on investment

Disadvantages:

  • Real estate investment does not offer as much potential for aggressive return
  • It involves a lot of cash
  • Dealing with building issues and tenants can be a pain
  • Poor liquidity

In conclusion

There are many benefits linked to real estate investment, but you need to know what you’re doing. When done correctly, you can ensure a steady flow of cash flow and a solid long-term return on your investment.

I hope this post about how real estate investing can boost your income has been useful. Be sure to use it as a reference the next time you are considering real estate investment as an added source of income.

 

Top Ways to Empower Women in Business

Ways to Empower Women in Business

When you think of ways to empower women in business, it’s pretty hard not to think of the opposite, the people or circumstances that disempower women.

It can be easy to fall into the trap of thinking of women as victims, sidelined or overlooked by men in power, marginalised, underpaid and more prone to hitting that glass ceiling.

Yet, if you’re a woman, empowering women starts with empowering yourself.

How to Empower Yourself

How to Empower Yourself

Empowering yourself starts with breaking out of that victim mentality and believing in yourself.

It’s not about the system, we know it’s broken, but we also know there are many, many women who rise to the top.

It’s not about them.  It was never about them.  It’s about you, who you are, what you want and what you’re prepared to do to achieve success.

When you believe in yourself, you will have the faith that opportunities will come your way and be ready for them when they do.

When you believe in yourself, you will get educated.  You will find a business mentor and accept their mentorship.

Related: Here’s Why Your Career Needs You to Keep on Learning

You will create a vision for your future, figure out your goals and put an action plan in place to achieve them.

You will commit to the hours and the weeks and the months it will take to see your vision become a reality.

And once you’re empowered and take on a leadership role in your business, you’re in the best place to empower other women.  Because empowered women empower women.

Now, YOU can become a business mentor. Now YOU can make a difference.

Why Focus on Women Empowerment in the Workplace?

The primary motivation to prioritize women empowerment in your business is, in many cases, varied organizations are often more successful. This is because women leverage many different perspectives, are innovative and offer deeper insights into their customers.

In our article below, we share 4 top ways to empower women in your business.

4 Top Ways to Empower Women in Your Business

Top Ways to Empower Women in Your Business

1. Connect Female Employees with Female Mentors

An efficient way of changing the way women think and provoking action is by introducing them to strong female role models within the industry and your company.

For instance, if a female employee is just starting her career, introducing her to more experienced female employees like entrepreneurs or women in leadership roles can be advantageous in assisting her with defining her career path.

A strong mentor-employee connection could also help with building trust among female workers in the company and their own ability to thrive in their profession.

This is especially true in a workplace that is predominantly male-dominated. Introducing them to women in senior roles can give them the confidence boost they need to work hard towards landing influential positions going forward.

Women leaders like Nancy Etz are all about giving women the tools to empower themselves by mentoring young women as well as by offering various scholarships.

2. Remind Female Employees They are Valuable

When you think of ways to empower women in business, it's pretty hard not to think of the opposite, the people or circumstances that disempower women. Read on. #howto #empowerwomen #waystoempowerwomen #empoweryourself #empoweredwomenempowerwomenWomen in workplaces that are mainly male-dominated often feel intimidated to voice their viewpoints, for fear of being dismissed or viewed as being too outspoken.

It is essential to remind women that their opinions matter and that they are valuable team members. There are various ways that your company can incorporate values.

The first step is bias awareness and training since you will not know what you are doing wrong until your actions are addressed head-on.

You can also promote a safer work environment where everyone feels confident to voice their concerns or challenges. Promote an open-door policy where female employees can turn for assistance.

3. Accommodate the Personal Needs of All Employees

Everyone has lives outside of the business. It is essential to encourage them to pursue their interest and needs, irrespective of their gender.

For instance, permit parents to knock off early when necessary, support an overall work-life balance of fellow employees, provide competitive parental leave, and be flexible wherever it is possible.

When employees flourish in their personal lives, they are more grateful to work for a company which in turn boosts productivity and loyalty. Don’t just encourage it, but be proactive about it. Organize family days and team-building exercises.

4. Vote for Female-Related Initiatives

It is essential to empower the women in your company by striving towards gender equality and enhancing the future of the work culture in your business.

Women are significantly under-represented in various sectors of the working environment. Hiring an equal gender workforce is a sure way to make a positive difference in your business, showing that both women and men employees are equal and valued team members.

Conclusion

I hope you enjoyed these 4 top ways to empower women in your business. I encourage you to start implementing them to create a better workplace for everyone.  Just remember to start with yourself.

This post was sponsored by Nancy Etz. All opinions are my own.

E-Commerce Email Marketing Strategies and Benefits

When eCommerce email marketing comes to mind, the first thing that pops into most of our heads is those email blasts that advertise new products or promotions. But this is just one email marketing strategy. There are various other strategies that can be implemented that are even more effective.

Automated scheduled emails for your small business are also convenient and takes a lot of the ongoing marketing efforts off your hands.

3 Major E-commerce Email Marketing Strategies to Boost Your E-commerce Business

1. Lifecycle Emails

These are automated emails based on consumer behaviour that are sent out automatically to engage with your customers and help with building a relationship with them.

They include:

  • welcome emails
  • thank you emails
  • cart abandonment emails
  • win-back emails
  • birthday messages, and more.

2. Broadcast Emails

These emails are once-off marketing emails that include:

  • announcements
  • newsletters
  • sales
  • testimonials, etc.

3. Transactional Emails

Transactional emails are personalized, automated messages that are sent out to subscribers to prompt them to make a purchase on your website. They include things like:

  • email confirmations
  • receipts
  • password resets
  • shipping information, etc.

These emails are not marketing-related and do not require customers to opt-in since they are strictly business orientated.

Related: Taking the Stress out of Online Selling and Sales Tax

5 Benefits of E-commerce Email Marketing

E-commerce Email Marketing Benefits

1. It is Incredibly Effective

The idea of marketing emails is to reach your existing customers as well as targeting potential customers. The average opening rate for emails is around thirty percent.

About 24% of visitors that click on a link in an email are bound to make an online purchase. That is twice as much as the visitors that make a purchase from search results on search engines or clicking on links on social media.

2. E-commerce Email Marketing is Affordable

Email marketing is not only effective but relatively cost-effective compared to other marketing strategies. Sending out an email to your marketing list is cost-effective and has the highest return on investment than any other type of marketing.

Related: eCommerce Millionaire Mastery by Kevin Zhang (Review)

How are you marketing your e-commerce business? Here are three major e-commerce email marketing strategies and the five primary benefits of incorporating e-mail marketing into your e-commerce business.3. Customers Prefer Email Marketing

Generally, when customers sign up for your website newsletter it is because they would love to hear from you. More than sixty percent of consumers prefer receiving emails to any other forms of marketing communication.

More than ninety percent of customers prefer promotional emails from businesses with whom they wish to do business.

4. Email Marketing Poses Less Risk

There is always an inherent risk linked to building a following on social media platforms because there are rules that must be followed.

It happens sometimes that Facebook or other social media pages block your profile. And what if the algorithms change and your posts are not reaching your target audience anymore?

Email marketing poses a lesser risk since you have your individual list of subscribers and your email messages go to them directly. This means you retain your ability to engage with customers, no matter what happens with social media, algorithms, etc.

5. It is Incredibly Measurable

This form of marketing is incredibly measurable with statistics that display open rate, conversion rate, click-through rate to evaluate the efficacy of your email marketing campaign.

Statistics such as bounce rates, unsubscribe rates, spam complaint rates, etc, give you a good idea of the condition of your list.

Even statistics like list expansion rate and email sharing rate could give you insight into the popularity of your business. The most significant benefit of being able to keep track of everything is that it gives you valuable insight into where there is room for enhancement.

How are YOU marketing your e-commerce business?

We hope that this post about eCommerce email marketing strategies and benefits has been useful to you and that you will soon reap the benefits from your email marketing campaign.

Which e-commerce email marketing strategies are you currently using to promote your e-commerce business?

This post was sponsored by Common Thread Collective. All opinions are my own.

Golden Advice from Dan Lok for Entrepreneurs

This post is sponsored by DiamondLinks. 

Who is Dan Lok?

Dan Lok is a successful internet entrepreneur and property investor. He is a bestselling author of 15 books and “Unlock It“, published by Forbes Books. He has delivered not just one, but two TEDx talks. At present, he has 3.3 million subscribers on his YouTube channel as well as a wildly successful podcast where he interviews other leading entrepreneurs.

Dan Lok was born in Hong Kong and emigrated with his Mom to Canada when he was 14-years old. Dan’s primary motivation when he started in business was to provide for his Mother.  His wake-up call came when his Dad, a successful entrepreneur, went bankrupt due to a bad business partnership and could no longer support them financially.

Dan Lok’s net worth is now estimated to be between 50 – 86 million dollars. Let us take an in-depth look at how he achieved this massive success and how you can follow in his footsteps.

Why Learn from Dan Lok?

Like most entrepreneurs, Dan has lost money and made money in his career. By age 21, he had 13 failed businesses and he was deeply in debt.

He met his mentor, Alan Jacques, and learned the art of copywriting, or “print persuasion” as Dan calls it.

He worked 14 hours a day, 7 days a week, for 5 years. Within that time, he built his copywriting earnings to $10,000 a month, scaled his business, and invested in real property.

By age 27, Dan Lok was a self-made millionaire and retired… at least for a month or two.

As Dan joked afterward, “I spent a month on the beach and all I got was sunburn. I did all that for this. This is nothing! It’s boring.” He spent another month watching movies only to find that it was just as boring. He then went back to work and begun to build his digital empire.

Dan now teaches others how to become high-ticket closers, high-income copywriters, and high-ticket influencers. He gets paid handsomely for his courses and mentorship.

He’s taken some criticism online by those who feel his courses are too expensive, but his business advice has made many of his followers and past students their own fortune.

Dan gives loads of free advice and training to his millions of followers via his shows and blog posts on his website.

As you can tell from this introduction, Dan Lok is more than qualified to dish out expert entrepreneurship advice.

Dan Lok’s Best Entrepreneurship Advice

Since I consume most of my content on YouTube lately, I visited Dan’s YouTube channel and started watching videos as my research for this post. I could not stop watching them for 3 days!

Here are just a few of Dan Lok’s golden pieces of advice that resonated with me.

Dan Lok is a successful internet entrepreneur, property investor, venture capitalist, bestselling author, YouTuber and Podcaster. Dan's net worth is estimated to be between $50 and $86 Million.  Here's some of his best advice for entrepreneurs.  #goldenadvice #advicefromDanLok #adviceforentrepreneurs #entrepreneurshipadvice Don’t Kid Yourself!

Dan does not sugar coat it.  Your chances are slim to none that you will become a millionaire, especially if your parents and closest friends are not millionaires. The odds are against you and less than 1% will make it.

However, if you are willing to do what it takes, master high-income skills, and deliver value to the marketplace, you might stand a chance.

He is just as clear that it is not going to happen overnight. People work for years to get to that millionaire status. It takes tenacity and persistence.

If entrepreneurship is your chosen path and you want to reach the top, it is not going to magically fall into your lap. You are going to have to work harder than you’ve ever worked before, for as long as it takes.

“If you don’t sacrifice for your dream, then your dream becomes your sacrifice.” – Dan Lok

Busting Myths

Dan Lok believes that financial freedom is a myth and should not be our focus.

The idea popularized by Robert Kiyosaki that, “financial freedom occurs when passive income exceeds your expenses”, does not sit well with Dan Lok. This is mainly because he believes passive income is a myth too.

It takes hard work and years of dedication to build a successful business that generates passive income.

Even if you have put in the hard work and the hours, passive income is not permanent. You will still have to pay attention to what is happening in the marketplace and put in some work to support your passive income streams.

Dan learned this lesson the hard way. He worked on his passive income plan. He built 20 to 30 sites selling books on Clickbank. Each book was making him anywhere from $500 to $5,000 a month in income. However, when Google changed its algorithm, sales from Google AdWords fell and passive income dropped.

“Just because it’s passive, doesn’t mean it’s permanent.” – Dan Lok

So… what does Dan believe in?

Leveraged income over passive income.

You can achieve leveraged income by using other people’s time (OPT) or other people’s money (OPM).

First, master certain skills yourself, then train up a team to help you build your empire. Once you and your team have built an empire, you can build up an investment portfolio to grow your net worth. Now you have money working for you.

Financial confidence over financial freedom.

Rather than making financial freedom your goal, figure out which skills you can develop to offer value to the marketplace. You are paid according to how much value you offer.

True security comes from knowing how to make money anytime. If you happen to lose it all, you still have the knowledge and skills to make it all back. That is financial confidence.

If you study the world’s richest people, you will find none of them made it their goal to achieve financial freedom or generate passive income. Those terms mean nothing to them. They found something they wanted to offer to the world and did it well.

Entrepreneurs are Empaths

The amount of money you make is in direct proportion to how deeply you understand your market’s pain.” – Dan Lok

How can you help them relieve their pain?

People don’t buy their way into something; they buy their way out of something. People are looking for a way out of a problem.

What problem can you help someone solve?

Dan Lok’s Wealth Triangle

Dan pioneered the wealth triangle model using his own path to wealth as inspiration. Dan Lok's Wealth Triangle

Step 1: Develop high-income skills in your field that can get you to an income of $10,000 a month. Dan Lok did this as a copywriter.

Step 2: Turn that into a scalable business by employing others or teaching and training others to do what you did.

Step 3: Build your net worth by investing in property or businesses that offer a high return.

Dan owns a property portfolio, and he is a venture capitalist as well.

Which High-Income Skills should You Develop?

So, let’s talk about the high-income skills recommended by Dan Lok. I really enjoyed Dan Lok’s video: 7 Skills that will Make You Rich.

You may recall I created my own video on high-income skills. Copywriting and Public Speaking skills were on my list too.

Here’s Dan’s list…

1. Closing

The ability to persuade customers and ask powerful questions that compel people to buy.

2. Public Speaking

The ability to speak to groups. Can you present your ideas to a group? Can you interact with your audience?

Fortunately, speaking in public is a skill you can learn. Dan Lok learned how to master this skill at Toastmasters International. You can too!

3. Copywriting

Dan calls this persuasion in print and this was the first high-income skill he mastered. Interestingly enough, it was also mine.

4. Leadership

The ability to effectively communicate your vision and your business plan to your team.

5. Priority Management

The ability to manage your time effectively.

6. Financial Literacy

The ability to read financial statements, understand how money works, and manage your money.

7. Mindset

The ability to manage your mind and emotions (emotional intelligence). This includes getting past procrastination, self-limiting beliefs, and going from a poverty mindset to a wealth mindset.

Definition of a Millionaire

Definition of a Millionaire

In his video on how to become a Millionaire, Dan has a completely different definition of a millionaire than anyone else.

“A millionaire is someone who makes a million dollars a year joyfully – notice I didn’t say passively – they enjoy what they do.” – Dan Lok

He went on to say that there’s no point in making money if you’re unhappy, if your family’s falling apart, or if you have no time for your kids.

If you want to succeed as an entrepreneur, do not lose touch with your original motivation for starting a business.

How to Become a Millionaire

To become a millionaire you’ll need to cultivate and develop these 3 things:

A Millionaire Mindset

Millionaires have an ‘abundance’ mindset. They do not believe in scarcity.

People who struggle financially have negative beliefs about money. They believe money is bad and wealthy people are greedy.

If we do not move past these beliefs, we’ll block ourselves from becoming wealthy. This is because to reach the financial goal, we are forced to become one of them – one of those people we despise. It goes against the grain.

Millionaires look at money as neutral, something that can be used for good or bad.  They believe wealthy people are kind, generous, and benevolent.

A Millionaire Skillset

Millionaires have a growth mindset. They never stop working on developing their leadership skills, communication skills, marketing skills, or management skills. They recognize that these are the skills needed to turn their ideas into their reality.

A Millionaire Vehicle

Lastly, every self-made millionaire has a powerful vehicle or platform – their business.  It is not just a business, but a scalable
business where you can put your unique set of skills to work.

To become a millionaire, work on your mindset and the skills needed to build a scalable business. Put in the hours, and do not give up.

Conclusion

For me, Dan Lok has not only mastered the art of print persuasion and public speaking, but he has also mastered every one of the high-income skills he recommends we develop.   He is also living proof that his wealth triangle can work.

Which piece of Dan Lok’s golden advice for entrepreneurs resonated the most with you?

eCommerce Millionaire Mastery by Kevin Zhang – Review

What is eCommerce Millionaire Mastery?

eCommerce Millionaire Mastery by Kevin Zhang an online course consisting of 15 modules and over 180+ videos that teaches you how to build an eCommerce empire.  You start out learning the basics of dropshipping and go on to learning how to create your own branded niche eCommerce store.

More about these later.  First, let’s look into Kevin Zhang and why you should trust him to mentor you through this process.

Kevin ZhangWho is Kevin Zhang?

At the tender age of 22, Kevin Zhang made what looked like a crazy decision. He turned down the offer of a 6-figure job at a consulting firm to follow his dream of becoming an entrepreneur.

He went on to make $20 Million in his first year in e-commerce and now teaches the exact same methodology in eCommerce Millionaire Mastery.

Kevin will be the first person to tell you that it won’t be easy (but it will be worth it).

Though this course is designed to give you your best chance of replicating Kevin’s success, the onus will still be on each student to put the work in and be the master of their own destiny.

Kevin has been featured in Forbes, Yahoo, Thrive Global and in many other online and offline publications and podcasts.

Kevin Zhang is also a TEDx Speaker.  Here’s his talk at UIUC.

Kevin Zhang TEDx Talk on Greatness

Why Should You Trust Kevin Zhang?

I took a look at reviews on TrustPilot and noticed that eCommerce Millionaire Mastery currently has 80 reviews and an overall rating of 4.6 stars.

Kevin Zhang TrustPilot Reviews

Trust Pilot Reviews

I had a look at a few of the reviews on Trust Pilot. Here’s a smattering of the recent reviews so you can see what Kevin Zhang’s students have to say about this course.

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eCommerce Millionaire Mastery by Kevin Zhang - Review | b2326740c9d81df381a7bea859453fe6 croppedeCommerce Millionaire Mastery by Kevin Zhang - Review | 51125c381c886c66544bdd610bd89e88 cropped

eCommerce Millionaire Mastery by Kevin Zhang - Review | b8a549eec2ec2024d3404c0dda37965b cropped

I’ve also read a number of independent reviews by bloggers online and found similar positive ratings.

What is Dropshipping?

Dropshipping is a fulfillment process where a business owner does not stock inventory and instead works with another company (the supplier) that packages and ships the products that are ordered.

Here’s an example of how dropshipping works.

  • Jane orders a product from your online store for $50 including shipping
  • You receive the order and instruct your supplier to ship it to Jane
  • You pay your supplier $20 for the product plus shipping of $5
  • You earn $25 from the sale  – your profit

The Number One Benefit of Dropshipping

There is practically no risk because you don’t have to pay for inventory upfront.  Your client pays for their product, you pocket the difference.

You also don’t have to handle any of the logistics, manufacturing, design, packing, shipping and in most cases, you’re also not responsible for the after sales service or returns.  This all gets handled by your supplier or a logistics center.

What is Branded Niche eCommerce?

Kevin Zhang teaches you how to go way beyond a basic dropshipping store using Branded Niche eCommerce (BNE).

You start out with a central theme or niche, targeting your products and messaging to a particular audience.

For example, maybe you decide to create a dog toy store or a men’s corduroy store, both of those categories are niches – and Kevin teaches you how to do that too.

There are essentially 3 steps in his process:

1. Testing the Market via Standard Dropshipping 

You start out learning to create your first branded niche store on Shopify by sourcing products from a supplier such as Aliexpress.

2. Scaling Your eCommerce Business via Private Labelling

As you start receiving more orders you can start negotiating better pricing and speed of delivery.

At this stage, you also start adding your own logo to your products and packaging.

3. Optimising Your Brand via Re-manufacturing

This is the step that changes the game completely and sets your store apart from the rest.

If you choose, you can at this stage, create an entirely new, unique range of products by taking your bestselling products and having them remanufactured to improve quality, under your own label or brand.

And the best part is, Kevin Zhang gives student access to the very fulfillment service he uses personally.

How to Build a Big Brand

When you follow this unique business model, the exact strategy responsible for Kevin Zhang’s success, you enter the world of creation, rather than just competing with other dropshippers out there.

All that is required from you is to follow the lessons in the program.

This is not a “get rich quick” program. You’re not going to learn how to create single product sites (or landing pages) and general dropshipping stores.

Instead, you will learn how to create a branded niche store with the exact same design features of the biggest brands in the world.  The benefit is two-fold. Not only will you generate more profit but you’ll also provide more value to your customers.

eCom Millionaire Mastery Course Curriculum

You’ll find eCommerce Millionaire Mastery on Teachable and the course is set out like the diagram below, with 15 modules in total.

EMM Course Curriculum

EMM Module 2

eCommerce Millionaire Mastery by Kevin Zhang - Review | f65599638b0258b23c2d78f2ee5953e8 cropped

Module 1:

Introduction to eCommerce and the Entrepreneurial Mindset

Module 2 & 3:

Branded Niche Dropshipping and Consumer Psychology

This is where you’re learn to create your Shopify account, add the Oberlo app and Google Chrome plugin.

You’ll also select your niche and start importing Aliexpress products into Oberlo. 

Module 4: 

Introduction – Shopify Web Design

It’s now time to buy your domain and start creating product collections.

You’ll learn how to edit the products within the Oberlo import list, name your products, add each product to a collection, add tags and split products by colour or style variants.

Module 5:

Shopify Web Design Mastery

Now you move onto creating your logo (or having it created by Kevin’s design team – one of the perks of joining this course).

You’ll also create homepage banners, collection images and start adding essential pages such as:

  • Terms of Service
  • Privacy
  • Shipping FAQ
  • Returns & Refunds
  • Contact Us
  • Track Order
  • About Us

Then you’ll create your header navigation menu.

Module 6: 

Setting up your Facebook Account for Advertising

Now you’ll learn how to:

  • Create your Facebook Business Manager
  • Set up your Facebook Business Page
  • Create your Ad Account on Facebook
  • Add your Facebook Pixel to your Shopify Store

Module 7: 

How to make Engaging and Highly Profitable Advertisements

Now you learn how to design and test ads in 3 different formats, eg.

  1. Video
  2. Slideshow
  3. Image

Module 8: 

Basic Facebook Ad Strategy

In this module, you’ll learn how to launch and target your Ad and set your adset Budget.

(Minimum daily budget per adset should be $15 – $5 x 3 creatives).

You’ll also learn how to monitor ad performance and cut or scale ads and set up a retargeting campaign.

eCommerce Millionaire Mastery by Kevin Zhang an online course consisting of 15 modules and over 180+ videos that teaches you how to build an eCommerce empire.  You start out learning the basics of dropshipping and go on to learning how to create your own branded niche eCommerce store.Module 9: 

Advanced Facebook Ad Strategy

At this stage, you’ll learn how to implement advanced strategies as needed.

Module 10:

Effective Sales Strategies and Business Fundamentals

Here you’ll establish a basic accounting practice for your store or learn how to use the OrderMetrics app.

You also may consider testing a sale (e.g. limited-time storewide sale)

Module 11: 

High ROI Email and SMS Marketing for Drop Shipping

Learn how to set up and launch a Klaviyo email marketing campaign.

Module 12: 

Multivariate Testing, A/B Testing, and Heat Maps

Now it’s time to set up a heat map and conduct A/B testing.

13. Module 13: 

Setting up Bulletproof Customer Support

In this module, you’ll learn how to set up your own customer support team and establish a system for handling returns.

You’ll also set up G Suite and your branded domain (e.g. support@mystore.com) and set up a Google voice number for your store.

Module 14:

Keeping Your Business Alive and Out of Trouble

At this stage of the game, you’ll learn how to form a business entity and ensure you’re paying all taxes (sales, state and federal).

You also discuss key FTC compliance policies and and learn how to comply with Key FB advertising policies

Add “Disable Right Click” app to your store and learn to report stores stealing your work

Now is the time to transition to a high-risk payment processor.

Module 15: 

Building Advanced Infrastructure and Achieving Full Automation

In the last module of the course, you’ll learn advanced scaling strategies such as:

How to outsource customer support via Upwork, negotiate better rates with your supplier.

This is when you consider private labeling your goods and remanufacturing your best selling products.

Kevin has put together a handy Checklist to help set yourself up to succeed. The checklist takes you through his program step by step, encouraging you to take action at each turn and propel yourself forward.

Facebook Group

When you enrol in this course, you also get to join Kevin Zhang’s community of engaged students. Currently there are 4,100 members in this group.

The eCommerce Millionaire Mastery Facebook group is the place to get your questions answered.

Kevin Zhang, himself, answers questions in the group and there’s also a supportive community of people who have taken the course and achieved success in the program.

eCommerce Millionaire Mastery Facebook Page

Weekly Calls

The Facebook Group is also where you can access a weekly live call with Kevin Zhang (usually at 3pm EST every Saturday).

The live calls take place on Zoom and you can catch the replay in the units tab on the group.

Bi-Weekly Workshops

Kevin also sets up Zoom conferences twice a month with guest experts, who offer workshops to offer continuing education.

Guests who have already led live workshops include:

● CEO of Chronos Agency – Josh Chin

● Founder of Jersey Champs – Sean Kelly

● Travel Influencer – Zach Benson

● Founder of Flex Watches – Trav Lubinsky

Free Logo

Once you’ve finished setting up your store, you are eligible for a free advertisement created by Kevin Zhang’s graphic design team.

There is also a paid option to employ Kevin’s design team for any other creatives you need for your store or marketing efforts.

Awards

One of the things I found very admirable in Kevin Zhang’s approach was how he rewards students who have achieved success in his program.

Kevin loves seeing his students transform their lives through his program.  Knowing firsthand the blood, sweat and tears it takes to create a successful store, he figured out a way to honor his students.

Kevin has designed the awards to celebrate milestones in a student’s ECommerce Millionaire Mastery life and remind them of how far they have come.

1. First Sale

When you achieve your first sale, you’ll receive a premium EMM T-shirt.

2.  Certified eCommerce Expert

Students receive a silver plaque to hang on your wall when you achieve $100,000 or greater in sales.

3. Certified eCommerce Master

Students receive a gold plaque and a private mastermind when they achieve $1,000,000 or greater in sales (Gold Plaque + Mastermind).

And… once you reach this level, you are treated like royalty.  The plaque isn’t sent to you. Instead, you’re flown to Kevin to join a weekend retreat and Mastermind with all 7-figure students and you will receive the plaque in-person from Kevin Zhang.

4. Certified eCommerce Legend

There’s a mystery prize when students achieve $10,000,000 or greater in sales. We’ll have to wait until someone achieves this level to find out but we can only imagine that Kevin Zhang will pull out all the stops for a student who achieves this level of success.

Final Thoughts

I’ve spoken mainly about the pros and paid very little attention to the cons of this program; I would be remiss if I didn’t mention one. The main objection I’ve read online is that this course is expensive, at $2,000.

Those who got something out of the course, call it an investment, those who didn’t say they didn’t see the value.

Here’s the thing though, people will pay fortunes to get the results they are looking for. And a course with the hint of a promise of $20 Million in a year (what Kevin Zhang made his first year in eCommerce), I feel is well worth the price tag.

I’ve seen online courses selling at this price bracket that deliver far less value and way less content. This course packs a huge amount of value with 180+ videos, plus weekly live calls, bi-weekly live interviews with guest experts and questions answered on the Facebook group by the course creator, Kevin Zhang himself.

To me the proof is in the pudding… the only way you’re really going to see if this is course is worthwhile is to decide whether eCommerce is the route you want to go and if it is, do the course and give it your all. Keep at it, ask questions and engage on the Facebook group until you’re one of Kevin Zhang’s success stories.

This is a sponsored post. I have not completed Kevin Zhang’s course as I only had access to the PDF Handbook. It gave me a good overview of the course and the rest I was able to put together through research online.

The Impact of Covid-19 on Small Business and Families

Irrespective of your present or upcoming health impacts of COVID-19 on your family or yourself, this pandemic has placed a strain on your household and business finances and will most likely continue to influence your income in the coming years.

Planning, prioritizing your spending, and utilizing resources appropriately will be essential to your future financial stability.

COVID-19 has had a substantial impact on the economy of numerous countries even if some household budgets have not felt the economic crunch yet.

From cancelling sports events, religious gatherings, and live events to closing the borders and airports between the various provinces and countries, international trade has been substantially disrupted.

Impact on Small Business

COVID-19 has had a substantial impact on the economy.  Has your small business been hit?  How about your household finances? How are you coping?  #theimpactofcovid19onsmallbusinessandfamilies #financialimpact #lockdown #quarantineWhile many small business owners are doing their best to pivot at this time, many small businesses have had to shut down and many more are expected to close in the years to come.

According to McKinsey, 30 million small business jobs are at risk in the United States alone – a higher percentage than at larger companies.

More than 50% of job losses will affect these industries:

  • Accommodation
  • Food Services
  • Customer Services
  • Sales
  • Construction
  • Retailing
  • Health Care
  • Social Assistance

Moreover, the danger is that loss of work affects those who can least afford it – workers who earn less and are less educated.

Impact on Major Events

With all major spot seasons and events being cancelled (NCAA tournament, the NHL, the NBA, Olympics, and MLB) have far-reaching effects, not just on the teams or employees at the venues, but also workers of agencies that rely on these events. This includes retail shops and vendors, airline companies, hotels, and taxi drivers that will have no income at all.

Travel Bans during Lockdown

The temporary travel bans announced during lockdown in some countries might appear to many as merely an inconvenience that affects their family holidays. However, it has an immense effect on many companies who are dependent on the exchange of information and knowledge that happens during in-person business travels.

Besides that, many college research trips and association conferences have been cancelled and remain so until the end of 2020.

While many companies have virtual meetings and this trend is expanding, the loss of personal income for individuals in the convention and travel industries will continue to decline for months to come.

Impact on Families

Those who work for companies that are primarily involved in the international trade have been directly impacted, with loss of incentives and bonuses, lower salaries followed by unpaid leave, or worse, temporary or permanent employment losses.

With the economic recession that most countries are facing, higher unemployment figures can be expected. Some individuals may still have employment but at a lower salary.

There is some relief given to agencies that do provide support, for instance, the Donald Kasdon T1 Payments initiative that donates to non-profit institutions like Safenest Las Vegas who are helping residents, clients, and families during this time of isolation.

Sadly, domestic violence has increased during lockdown and Safenest provides shelter and crucial necessities like disinfecting wipes, diapers, hand sanitizer, body wash and other essential toiletries for babies, teens, and adults. They also raise awareness about problems that arise in the home during this difficult time.

COVID-19 and School Closures

Many households have been affected with schools closing due to the COVID-19 pandemic. School-aged children are at home full-time. While most households today are reliant on two incomes, this has become a major headache for parents.

Most parents are still left with having to pay school fees plus additional day-care if both parents are still working. Some parents are forced to take paid time off because they have no other choice.  This, in turn, impacts business.

Conclusion

The COVID-19 virus has spread with distressing speed, impacting millions of people, resulting in an almost complete financial standstill when countries imposed strict limitations on movement to prevent the spread of the pandemic.

As the human and health toll increases, the economic impairment is evident and epitomizes the most significant shockwave the world has had in many years.

Only time will tell when this virus will be contained and how long it will take countries to recover from the financial shock it sustained due to the pandemic.

How has the Covid-19 pandemic impacted your small business or home life?  How are you coping?  Do you have a pandemic-proof business or are you afraid you might lose your business over the coming months or years?

7 Characteristics of a Sound Business Model

Establishing a business model is not merely about finishing your business plan or identifying which products to pursue. It’s more about mapping out how you can generate ongoing value for your customers.

  • Where will the business concept start?
  • How must it expand?
  • How can you create value for your customers?
  • When will you know that you have been fruitful?

You can follow these steps to secure a sound business model.

1. Ascertaining Your Specific Audience

Targeting a broad audience will not permit you to refine customers that truly want and need your service or product.

Instead, when creating business models, it’s essential to narrow down your audience to maybe two or three consumer personas. Each persona is outlined according to common challenges, demographics and the solutions your business can offer.

Jason Vanclef discusses how his business model is driven by ensuring his client’s succeed in this interesting post on The Start-Up Mag. Vanclef runs a financial advisory company which only profits when his client’s profit. If only all business models operated on the same principle.

2. Creating Business Processes

Before the company can go live, you must understand the actions necessitated for a business model to work.

Ascertain key business operations by first identifying the primary aspect of your company’s offering.

Will you be responsible for supplying the service, shipping a product or providing consulting?

3. Recording Essential Company Resources

What does your business require to do daily processes, find new prospects and obtain company goals?

Document critical business resources to make sure the business model is sufficiently prepared for sustaining the needs of the business.

Common required resources might include:

  • A website
  • Capital
  • Intellectual property
  • Warehouses
  • Customer lists

Answer these questions to get to know the 7 characteristics of a sound business model so you can map out your path to business success. #characteristicsofasoundbusinessmodel

4. Generating a Solid Value Proposition

How will your business stand out among competitors?

Are you offering an innovative service, ground-breaking product or a fresh variation of an old favourite?

Identifying precisely what your company provides and why it’s better than opposition, is the start of a sound value proposition.

Once you’ve identified a few value propositions, link each one to a product or service delivery method to establish how you can stay valuable to customers in the long run.

5. Establishing Essential Business Partners

No successful business can operate efficiently or obtain established goals without having essential partners to contribute to the company’s ability to serve your customers.

When picking a business model, choose essential partners, like strategic alliances, suppliers, financial planning professionals, or advertising partners.

6. Creating a Demand Generation Plan

Unless you are taking a deep-seated approach to introducing your business, you will necessitate a plan that builds interest in your company, creates leads and is designed for closing sales. Think about how customers will find you.

More essentially, what must they do when they’ve become aware of your brand?

Creating a demand generation plan produces a blueprint of your customer’s expedition while documenting the essential stimuli for taking action.

7. Leaving Space for Innovation

When you initially launch your business and develop your business model, your company plan is based on numerous assumptions.

Until you’ve welcomed paying customers, you won’t truly know if the business model you’ve chosen can continue with meeting their ongoing requirements. This is why it is essential to leave some space for future improvements.

Don’t make the crucial error by thinking your initial business plan is a stationary document. Rather keep reviewing it periodically and incorporate necessary changes when needed.

Conclusion

We hope these seven tips will assist you in generating a sound business plan which is capable of invigorating your start-up’s success. Did we miss any key characteristics of a sound business model?  If so, please share in the comment section below.