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Video Marketing Mistakes That Every Marketer Should Avoid
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In today’s digital era, a marketer should not underestimate the power of video, as it solidifies your presence over the internet or intranet. It’s no real surprise that it has now become the need of the time, without which your digital marketing strategy is incomplete. To hit the head like a pro, you need to get out of your comfort zone and jump on the bandwagon that gives you the results. Customers or visitors find videos more interesting and easier to communicate than the content itself. It clarifies and conveys the thoughts better than the written text. While indulging in the strategy, here are some mistakes that you need to avoid, have a look to know them.
- Creating Never-Ending Videos: Just because videos have now become an integral part of digital marketing strategy, doesn’t mean you make it lengthy or never-ending. If you did so, it’ll only ruin your impression and break your images in front of the clients. Thus, you should keep in mind the duration of the video and try to make it as short, simple and knowledgeable, as possible.
- Try Not To Push Sale: While creating a video for your company, you need to keep in mind the point that it is to attract people and advertise your products or services to them in a smarter way. If you are not doing so, it’ll break your impression and deliver the wrong results. Make sure the video you create convenience them to try out your products and services, rather than trying to foist it on them forcefully.
- No Title And Description: Video makes it easier for a viewer to understand your offerings, similarly, title and descriptions help the Google to index it for better ranking. Thus, you should create SEO-friendly title and description that justify your video and make it easier for search engines to index it.
- No Call-To-Action: Be it content or video content, a call-to-action phrase is very much important to attract the audience and, to increase the chances of conversion. If you are not adding it to your videos, so, it’ll zero your efforts of generating the leads.
These are a few video marketing mistakes that being a marketer, you must avoid. To add a professional touch to your videos, you shouldn’t hesitate to take the assistance of the experts. Do remember, video marketing has the power to make or break your company’s impression and, you should use this tool ideally to make it work for your goals.

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Source by Gunjan Singh

Views: 1
August 28, 2023
How to Select the Right Marketing Strategy for Your Business

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I’ve probably had more conversations about this topic with clients than any other: What marketing strategies should I use to market my professional services?

These days, there are more options to market yourself than ever before. And you may have a tendency to look for something quick and easy that will generate a never-ending stream of new prospective clients.

I wish that solution existed. Some of the newer methods of marketing, such as YouTube videos, are very powerful, but extremely difficult for the average person to pull off successfully.

Over the years, I’ve had tremendous success with three primary marketing activities. And I’ve also helped a whole lot of clients implement these strategies successfully as well. Nevertheless, for all of them it can take a tremendous amount of time and energy to get consistent results.

Here are the pros and cons of each strategy and my overall recommendations about how to integrate each one into your overall marketing plan.

Networking and Direct Outreach

This strategy about building relationships with others in your field who can connect you to prospective clients. This means having conversations, attending meetings (individually or in groups), and doing follow-up. Sometimes it means reaching out directly to those in your network (including LinkedIn), being proactive, and exploring possibilities for projects.

Pros: Networking is the most concentrated, focused, personal kind of marketing. And if you do it well and consistently it can be extremely effective in building strong relationships and trust with your business associates and prospects.

Cons: The downside of networking is that it can drain your energy. This is a particular issue for introverts like me. And networking only enables you to reach a limited number of people.

Recommendation: Start marketing your professional services by meeting as many people as you possibly can – face to face. Join organizations and associations and then learn how to use LinkedIn to connect with new prospects.

Speaking (Live and Webinars)

If you want to gain a reputation as an expert, nothing is better than speaking. And it combines the best of networking and writing, in that you are connecting with people directly and also sharing your valuable expertise.

Pros: Speaking can quickly establish you as an expert. And you can immediately follow up with those in your audience.

Cons: The downside of speaking is that, for many people, it comes with a high fear factor, therefore a lot of people avoid it.

Recommendation: As your network expands, start to find audiences to present your ideas through professional associations, chambers of commerce, and other groups both offline and online. Learn the skills of giving a great presentation and of following up with your audience members.

Writing

Publishing articles and books have always been a good way to market professional services. It establishes your credibility. And with the expansion of various platforms on the Internet, such as Medium, and tools such as WordPress, it’s easier than ever to put your ideas out there.

Pros: There is no better way to get your ideas out into the world and in front of a large number of people quickly and at virtually no cost.

Cons: The downside of writing is the sheer volume of online material. There are so many articles published online these days and sent out by email that it can be hard to break through. And yes, writing is a lot of work and takes lots of time.

Recommendations: You should publish an online newsletter and blog as soon as possible. Work at growing your list and you’ll expand both your reach and credibility. Note that this can take years, so you need to be patient.

This is the fifth of five articles about the 5 Pillars of Marketing, my marketing model that helps get your marketing on track. 5 Pillars article here.

Social Media (supplemental strategy)

For independent professionals, social media is a fast and easy way to communicate about what you’re up to in your business. It’s worth the time to set up LinkedIn, Facebook and Twitter accounts.

Pros: It’s easy to set up social media accounts and start posting and linking almost immediately.

Cons: It can take a long time to gain traction that results in any new business. And it can also eat up a huge amount of time.

Recommendation: Think of social media as a supplement to networking, speaking, and writing. It can increase your visibility and credibility among those you already know.

All of these marketing strategies take time to master and don’t yield immediate results, but in my experience, the time and effort you put into them will reward your investment many times over.

Perhaps the biggest mistake you can make in marketing your professional services is implementing these activities randomly and superficially. For success, you need to do all of them regularly and frequently. And for that you need a solid, step-by-step plan.

Cheers, Robert

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Source by Robert Middleton

Views: 1

November 12, 2022
How to Bundle Your Leveraged Sales Offers

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Is there a way to bundle leveraged sales in a way that it is lucrative to both you and your prospects? The answer is yes and we will cover the basic process promotion of bundled goodies. If you're looking to increase your income potential without having to rely on your primary offer, leveraged sales is the way to go. Small gains over time leads to decreased overhead and a stronger bottom line. You can see places like McDonald's, Amazon and even Starbucks offer unique items at a low cost. They offer value to their prospects that ends up building up their revenue flow.

Bundle your leveraged sales on the need of the prospect

Leveraged sales are only as effective as the planning that has been put into creating them. From concept to research and finally to deployment, every aspect requires attention to detail. Just like when you created your marketing strategy. The leveraged sales offer must be developed from a need. This need comes from knowing your prospects. It will take time to ensure that your offers are gaining sales. If they are not, you can look at your promotion efforts, type of offer and prospect profile to see if you're hitting the mark or not.

You can bundle your leveraged sales ideas together in order to increase value to your prospects. They can then lead to other offers or even to your main attraction. The most common way to bundle offers are to include two different offer types. As an example, for this would be an eBook and worksheet bundled in one package. Other examples include podcasts with personalized email correspondence. There is no limit to what you can bundle, you can bundle a series as well. The most difficult elements to work with is the pricing.

Promoting your leveraged sales bundle effectively

Promoting your leveraged sales bundled offers is very important to your success. Self-promoting can be hard, but nevertheless your revenue will require careful monitoring as you cast your offers out on various social media networks. As you promote informational material, you may want to mix in your offers as well. Some channels can offer you other ways to reach your audience, running a small advertising campaign could provide great insight to the effectiveness of your call to action message. Be careful with the data and always keep analyzing it to see where you can make improvements.

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Source by David L. Feinstein

Views: 1

November 12, 2022
The Real Reason Why Small Businesses Can’t Get Approved for a Loan

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Oh no, not again. Yes, that’s right, I’m not going to go there… at least not for today. There’s no shortage of excuses and reasons why small businesses can’t get approved for business loans. It never fails to amaze me the coverage this topic gets especially when the national economy goes into recession or when major political races are at stake. Yes, I agree that small business growth and success is the economic back bone of the US and also, that more than 60% of the US workforce are employed by small businesses. But where I get off the group think is when it comes to the lack of financing for a small business with a business loan. In this article, let’s explore the REAL REASON that small business don’t qualify for loans and the truth may even surprise you.

It’s Deeper Than Statistics

I love numbers and even better, I love reading financial statements and the notes. The love for numbers did not become a passion for me in the world of small business lending until I came to understand that the financial statements tell the story of a business. Similar to the story behind the financial statements, there’s a story behind the statistics stating that small business owners can’t get approved for loans especially if they’re of a certain ethnic group, gender, and / or industry. I’m not completely washing away the reality that there’s a shred of discrimination in our world… hey, we live in a broken society with broken people. However, a large part of this thinking (small business owners can’t get a loan because of skin color, gender, etc) is just simply untrue. I’ve been on both sides of the fence so to speak in the world of small business lending. I’ve worked for a big bank, and I’ve worked for a not for profit community development financial institution and it’s always the same. The number one reason why small business can’t (and don’t) get approved for loans is due to the considerably large operating risk that exists in these businesses.

Operating Risk: It All Starts with You

What does operating risk mean? Well, here’s a question to bring some clarity. What speaks more to sustainability: a business that’s been operating for at least one year or a business that’s still in the owner(s) mind? I’d go with the first option. Operating risk means that you have and continue to execute on your business plan(s) and that the business is cash flow positive (i.e. returning a sustainable profit margin to cover costs and make you money). Here’s the sad truth: not many small businesses get to this point. Most if any, within two years are still trying to figure things out. OK, granted, there are levels to this particularly when you observe the diversity of businesses. However, I’m speaking to the ones that endeavor to obtain a business loan.

In closing, I offer a couple of ways to minimize your operating risk and increase your chances of getting approved for a loan. (1) Grow tough skin and learn to survive. The game of business is one of survival. Most days, things will not go your way and you just have to stay the course, be adaptable, and stay true to the business mission. (2) Never forget the 3 P’s – Production, Processes, and Personnel. Become efficient in the production of what you offer for sale, create and put in place processes to enhance production efficiency and ultimately the customer experience, and finally, hire, train, and invest in people who share your vision for the business.

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Source by Pierre Pinkerton

Views: 1

November 12, 2022
Oxygen Therapy – Is This a Cure For Herpes?
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Since anaerobic viruses cannot survive in an oxygen rich cellular environment, one would think that the herpes simplex virus could be eliminated via oxygen therapy.

Unfortunately this is not so easy, and here’s why:
- The primary function of the lungs is to oxygenate red blood cells.
- Inhaled oxygen is taken up by red cell hemoglobin, thereby boosting the oxygen content of arterial blood to 98%.
- While circulating, arterial blood gives up about 25% of its oxygen when passing through bodily tissue.
- A tiny proportion of these oxygen atoms actually penetrate down to cellular level where the herpes virus replicates – the balance is used for waste disposal and tissue repair.
- As a result, the hemoglobin of venous blood leaving the tissues is oxygen-poor. If extra oxygen is infused by other means such as high-pressure hyperbaric oxygen therapy or via oral supplements, it bypasses bodily tissue and is absorbed directly into venous blood.
This means that when venous blood arrives back at the lungs, it carries more oxygen than it usually does. Once the oxygen level in the red cell hemoglobin reaches 98% during lung function, the excess oxygen is simply exhaled back into the atmosphere.

This makes it impossible for extra infusion to increase the amount of oxygen carried to the tissues at cellular level.

How Can We Increase The Oxygen Content of Human Cells?
- Since oxygen depletion at cellular level is exacerbated under acidic conditions, a practical way of boosting cellular oxygen is to alkalize the body.
- Alternatively, a means of improving cellular oxygen absorption must be developed.
A motivated homeopathic researcher and herpes victim may have found a way of doing just that.

I recently came across her e-book via twitter. I also noticed that news of a possible herpes cure was beginning to gain media attention.

However, knowing the obstacles facing researchers attempting to cure herpes by oxygenating human cells, I almost passed the book by. Nevertheless, because I am obligated to bring relevant information to my website visitors, I downloaded the book.

Here’s what I found out:

Apparently the author has discovered a way to use a common substance to efficiently boost the transference of oxygenated atoms from the bloodstream into human cells.

In her book she says:

“The only reason why the medical industry and the pharmaceutical companies haven’t embraced this powerful solution for preventing and curing disease is because there is no financial incentive to do so. The reason? They cannot patent natural substances or homeopathic remedies.”

The e-book starts out by covering herpes basics. The author then gets down to the business of oxygen therapy.

She tells us how oxygen therapy research earned a Nobel Prize for an early 20th century scientist and that oxygen therapy is practiced to this day in some modern medical offices.

And then she drops the bombshell.

Effective oxygen therapy has been proved to work with the help of a common household substance. Furthermore, this substance can be obtained easily via pharmacies or over the Internet.

After reading the publication and checking out some testimonials, I’ve come to the conclusion that this may well be the answer many herpes sufferers are looking for…

That is, if her claims prove to be true.

Should you read the book?

Well, that’s up to you. However, since there’s no obligation to buy, I believe the preliminary information is certainly worth a closer look.

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Source by Ian R Kelly

Views: 0
November 11, 2022
4 Little Understood Tricks to Ending Up Being a Successful Affiliate Online Marketer

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Affiliate marketing company has actually gotten a great deal of buzz in current times due to advances in web innovations and upswing of social networks channels like Facebook, Twitter, LinkedIn and so on

Some affiliate online marketers particularly novices battle to make successfully due to the fact that they do not completely comprehend the service.

WHAT REALLY IS AFFILIATE MARKETING?

Affiliate Marketing is the procedure of making online commissions by promoting product or services. Your commissions are made each time you get a lead (Possible client) or offer items online.The fascinating element of affiliate marketing service is that you can make a lots of cash with a little financial investment.

You can begin the company without items or services of your own, work from house and make passive earnings even while sleeping if you have an efficient system in location.

HOW DOES AFFILIATE MARKETING WORK

Register under the affiliate program of credible business that have important services and products.

Get your custom-made affiliate tracking link for each item you choose to promote online.

Select the ideal traffic source to utilize in promoting the item.

Select the specific niche items to concentrate on.

Pick the marketing method to utilize I.e Blogging, video or social networks marketing.

4 MAJOR WINNING STRATEGIES TO BOOST YOUR REVENUES ONLINE

Concentrate on a single specific niche at a time

This allows you to quickly encourage your consumers to purchase your items. This will enable you to find out and obtain brand-new selling techniques that will increase your sales and increase your revenues.

Select traffic sources

It is suggested to concentrate on 2 traffic sources at a time. I will advise concentrating on one online search engine and one social networks traffic at a time. This allows you to appropriately track and enhance projects released on each platform consequently optimizing your revenues per product.The trick of incredibly affiliates is their capability to concentrate on a traffic source, screening and tracking projects efficiently.

Test marketing technique to utilize

You can never ever understand if either blogging, social networks or video marketing will be most rewarding till you evaluate marketing techniques such as:

Track the data/results received from each of the approaches then you concentrate on the technique that produces the best earnings.

Video marketing; You can make a video explaining the functions of the item then you publish it on YouTube for individuals to view.

Blogging: You can compose a post utilizing well research study keywords for SEO. This attracts your customers to your blog site and triggers them to decide.

Social Network Marketing: This is the commonest and the simplest approach particularly for novices. Facebook is a great platform since it has great deals of groups/forums where you can discover individuals who have an interest in your services and product. You can quickly send them a pal demand and pitch your items to them.

Select the traffic type

Paid traffic includes utilizing Pay per click or Pay per view marketing on online search engine and social networks platforms. This technique is much faster, related to increased conversion and earnings due to the fact that it enables you to target your customers particularly based upon interests and other functions.

The traffic type can either be totally free or paid traffic.

Complimentary traffic includes SEO, social networks groups, and short article marketing. The downside of this technique is that it does not permit you to target your customer based upon their interests and demographics.

Learn more about how to become a successful affiliate marketer.

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Source by Juan C Ruiz

Views: 0

November 11, 2022
How Can I Increase My Husband’s Love For Me When He Wants To Leave?

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I sometimes hear from wives who are fairly certain that their husband is going to leave them. Some of them just have a strong feeling or suspicion that their husband is unhappy. Others have husbands who have been very honest about the fact that he is considering moving out. Many of the wives do not want to accept this. Some of them concede that the marriage does have problems, but most don’t believe that the problem is serious enough to end the marriage. Most of the wives just want to buckle down, focus on the love that is left in the marriage, and try to salvage their family. The wife usually figures that if the love is there, everything else can be fixed. Sometimes, the husband clues in on this, begins to pull away, and starts to make the wife worry that he no longer loves her in the way that he used to. So, she puts two and two together and starts to believe that if she can just make him “love her more,” then he won’t want to leave any longer.

She might say, “I can tell by the way that my husband acts that he doesn’t love me like he used to. And I know that it’s not just my imagination – because, in the past, he has talked about moving out. First, he was going to do it in the fall, but then Thanksgiving and Christmas rolled around, so he didn’t. Then he got really frustrated with me again in March and I am pretty sure that he was looking for another place to live, but his mother got ill, so he had to deal with that. At this point, I just want to make him love me more so that I don’t have to deal with this moving out threat every few months. I can’t keep waiting for issues to come up that are going to discourage him from moving out. How do I increase his love for me so that he won’t want to move out?”

Why You Don’t Want To Let Any Hint Of Manipulation Into This Mix: This situation is so tricky on so many levels. First of all, the second that you try to “make” someone feel or do something, then you introduce elements of both manipulation and desperation into the mix. Those things are never good. If a husband is already feeling somewhat annoyed, knowing that his wife is trying to “make” him do something is not going to bring about loving feelings. It is usually going to encourage him to do just the opposite – he might instead back away and retreat. Worse, he may then limit your access to him, which suddenly makes your job a lot harder.

Take Stock Of What Is Positive: I don’t know you and I know even less about your marriage. But it could be telling that your husband is still in your home. A man who was completely miserable or at the end of his rope would leave and would not let anything stop him – regardless of the holidays or his extended family. If the situation was truly intolerable, he would go first and worry about the timing or the details second. I’m not saying that he’s happy. I’m just saying that the situation may not be dire just yet. You may still have time.

I know that your inclination right now is to panic and to pressure your husband more. These are the last things that you should do. Think about what attracted your husband to you initially. It probably wasn’t a panicked woman who wanted to lay claim on him and to hold him in a tight grasp. No, it was probably a playful woman who listened intently when he talked and who expected the same from him.

Fixing What Is Fixable: One really good way to entice him to love you more is to take away the things that make him love the situation less. What I mean by that is that often, it is the circumstances surrounding the marriage that draws out the feelings within it. You can have a hard time feeling love when you are so stressed that you can’t even spend quality time with your spouse. It can be hard to feel love when you are fighting. The very best thing that you can do is to create an atmosphere that is conducive to loving feelings and then remove what pollutes that atmosphere. If you know that it drives your husband crazy when you are clingy, then stop. Control what you can – and this is normally your behavior, not his.

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Source by Leslie Cane

Views: 0

November 10, 2022
Family Medicine And Family Physicians

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To become a family physician, men and women go through a four-year degree program, they study in an accredited family medical medicine residency program, and an additional three years of training before becoming board certified. A family physician is your one-stop healthcare expert. They treat everyone in the family and they exam, research, and diagnose medical conditions from head to toe. This type of care is called integrated care where a family doctor devises individualized health plans to treat mom, dad, and children of all ages. Family doctors treat a wide range of health conditions and they can be your primary care physicians at any point in your life. Unlike other specialties, family medicine involves coordinating all types of healthcare issues, from a common cold, pregnancies, to treating an acute or chronic illness.

Family physicians must practice at the highest level of medical care throughout the world. They are required to become re-certified around every six years, through American institutions like The American Board of Family Medicine, The American Academy of Family Physicians or the Accreditation Council for Graduate Medical Education, all of which have reciprocity agreements throughout the globe for family medicine training. A few of the advantages in being seen by a primary care physician, includes the following:

• family doctors have all of your personal and family medical history because they have been treating you for years.

• physicians that have seen generations of family members can help in researching various genetic diseases, like cancer, if it appears more than once in a generation.

• doctors involved in family medicine environments can perform minor surgical procedures without the added cost of seeing a specialist.

• they improve the lives of the underserved in America and abroad.

Research and clinical studies have proven that US and worldwide primary care physicians have been responsible for lowering the world mortality rates in diseases, such as in cardiovascular diseases, cancer, diabetes, low birth weight issues, obesity, and many other illnesses and health conditions. The statistical results associated with the care provided by family physicians, have proven that they help to increase life spans and control diseases from spreading. Their participation in healthcare has reduced healthcare expenditures, they help to lower hospital admissions, emergency room admissions, and they help to reduce surgical costs.

A family doctor focuses on preventive care, community oriented care, global health, plus they diagnose and manage a wide range of health problems to improve the quality of care in local, rural, urban, and large city health. Even if people are generally healthy, patients benefit by keeping a relationship with their primary care physicians. The physicians support individuals to stay healthy through dietary programs, they encourage their patient's to exercise to stay physically and mentally healthy.

One of the main reasons that family medicine works, is the relationship that patients have with their doctors. This specialized and confidential relationship is great for individuals who feel comfortable in talking about their medical health with their physicians. Physicians around the world, are available to answer their patient's questions in a way that forms a trusting bond. This bond creates a trusting relationship, whereby patients will listen and follow their healthcare provider's advice and directions, thus decreasing chances of spreading contagions .

Family medicine is all about treating the whole person, not just their symptoms. A family physician has a profound effect on the physical, mental, environmental, emotional, and spiritual health of each of their patient's. Physicians with an intimate knowledge of their patients can help introduce the healing power of hope, love, faith, and trust, as life presents challenges that can evoke depression, fear, grief, and anger. Also, if a physician's patient requires the need to see a specialist, a family doctor will help coordinate your care. Patients can often feel frustrated and confused when they have to manage the healthcare system on their own. With a family healthcare provider on your side, the whole medical care journey is made easier and less frightening of the unknown.

Refugees have always fled to foreign countries, including the US for a chance of better opportunities for themselves and their family. The present global news events are following refugees today, who are fleeing from their native countries for various reasons. Before being accepted for resettlement, all refugees must pass medical screening examinations, which is often performed by primary care physicians. The physicians perform a thorough examination of a variety of health problems that involve the mental and social health of the refugees. The family doctor's check for infectious diseases, chronic illnesses, the refugee's overall musculoskeletal system, and parasites, thus providing immunizations. The information that they gather is shared with that country main health agency, which in the US Is the Centers for Disease Control and Prevention.

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Source by Ryan A Buffington

Views: 0

November 10, 2022
Exploring The Forex Trading System

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Most people are familiar with the most basic form of Foreign Exchange Trading. They know that when you travel abroad, one of the first things you do after disembarking is to find the nearest place for currency exchange. Depending on the country you call home and the country you are visiting, currency exchange will leave you either richer or poorer based on the exchange rate.

Nowadays however, Foreign Exchange Trading, or Forex, has taken on another meaning. If you hear two people excitedly chatting about Forex in an elevator or coffee shop, they are most likely referring to a type of investment trading that is growing in both popularity and esteem.

How It Works

Basically, Forex trading is how investment traders speculate regarding the trends and fluctuations in currencies. If a trader is able to stay on top of trends and accurately predict the disparities between pairs of currency values, they can make considerable profits through Forex trading.

For instance, the USD (US Dollar) and EUR (Euro) is a very commonly traded currency pair. If you had reason to believe that the USD will drop in value compared to the EUR then you would “go long” and purchase EUR/USD. If, on the other hand, you predict that the USD will rise in value, then your reaction would be to “go short”. Of course, this is just a very basic example of the principles of Forex; experienced traders keep track of many different currency pairs simultaneously using Forex Trading Systems.

All foreign exchange trading is done through a Forex broker. These brokers handle the trades and place them on the open market by networking with banks. Because of the fluctuating nature of currency exchange, Forex is a very dynamic form of investment trading. Also, unlike the international stock market, Forex is open throughout the day. The primary reason people engage in Forex is, of course, to make a profit. However, many are motivated to stick with it because of its thrilling nature.

Best Strategies for Up-and-Coming Traders

Although many people are able to supplement their incomes through Forex, it is by no means a quick and easy way to get rich. Using the Forex Trading System correctly takes time, experience, and patience. Those who are new to a Forex Trading System will need to spend time getting familiar with the jargon and tuning into ever-changing currency trends. Some general tips for newcomers to the Forex scene include:

Select a Forex Trading System that accommodates and adapts to the dynamic nature of the market. If you are using a software package to manage your trades, you will be best served by a program that keeps pace with the lightning fast changes that occur in currency trading. There is also a lot to be said for software that has a clear, easily understood format so you aren’t struggling to keep track of what’s happening in the market.

When you first dip your toes into the world of Forex, a good rule of thumb is “less is more”. This means that you should start small with your trading and build up slowly from there based on your successes. For instance, focus your initial efforts on a single currency pair and use that experience to inform future trades. Along those same lines, don’t use the maximum amount of leverage when you are new to Forex; that’s a sure-fire way to rapidly accumulate losses. Instead, begin with small leverage ratios and gradually increase as you become more experienced.

If you really want to stay on top of trades and trends, you will need to use a Forex Trading System that will send you messages regularly. This will allow you to immediately take advantage of trends and reap the financial benefits.

Most Forex brokers allow you to use a trading demo to get some practice before actually investing any money. Take advantage of these demos as they can give you a feel for currency trading in a risk-free environment.

Foreign Exchange Trading can be difficult to master, but with a level head, an effective Forex Trading System, and patience, you will be rewarded for your efforts.

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Source by Tiffany M. White

Views: 0

November 10, 2022
Problems Encountered by Nigerian Entrepreneur and Possible Solutions

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The success enjoyed by most industrialized countries can be attributed to the role played by technological innovation and entrepreneurship, both of which continue to drive their economies today. These two factors are seen as key components for the industrialization and development of African countries. The Nigerian government has recognized this fact and has taken measures aimed at promoting and cultivating the entrepreneurial culture in our country. Through the Nigerian Investing Commission (NIC), our government has in the past introduced a policy that required university students regardless of their area of study to take courses in entrepreneurship. While our government is putting extra effort in promoting entrepreneurship in Nigeria, there are still a number of problems that a Nigerian Entrepreneur faces. Below are some of the problems encountered and possible solutions.

* Diversifying the Economy

Though our country’s economy has over the last couple of decades relied heavily on its oil production, we must find ways to diversify our economy and avoid the over reliance on oil. Like other developing countries, Nigeria is facing an increase in its unemployment rate that is now at 6 % and is on the increase, with many graduates finding it hard to get jobs while most of those who get jobs are underemployed. This coupled with the global financial crisis in which massive numbers of employees are being laid off; entrepreneurship is seen as an essential key if we want our country to achieve its ambition of being an industrialized nation by the year 2020.

* Unfriendly Business Climate

Being an entrepreneur in Nigeria requires great determination as practicing and potential business owners are faced with countless challenges. Nigerian’s business climate should be made welcoming to those in the Micro, Small and Medium Enterprises (MSMEs). The role played by these MSMEs should not be underestimated since majority of the thriving businesses fall in this category and for us to achieve our goals, adequate attention and support must be directed towards these institutions. To be able to help and protect entrepreneurs, we must first have a clear idea of the challenges facing our entrepreneurs in their pursuit of making Nigeria a prosperous country.

* Lack of Credit Facilities

Potential Nigeria entrepreneurs go through many hardships when trying to access credit for their businesses. Though there is a wide range of financial institutions that offer business loans, they usually charge high interest rates deterring aspiring entrepreneurs. For instance, major banks have pegged their lending rates to as much a 28% deterring potential entrepreneurs who are mostly low income earners. Other obstacles faced by our entrepreneurs include severe collateral conditions set by banks and other lending institutions. Though our government through the Central Bank and the Banker’s Committee came up with guidelines requiring banks to set aside 10% of their profits for funding MSMEs, majority of these banks have been reluctant to do so. This has led to the emergence of micro-finance institutions which though helpful are not sufficient for meeting the financial requirements.

* Multiple Taxation

One other sensitive challenge that is encountered by majority of Nigerian entrepreneurs is multiple taxation. Although we have a responsibility of funding the government through paying taxes, most of the taxes charged on entrepreneurs are not lawful and have the effect of increasing the cost of doing business. Although Nigeria’s Companies Income Tax Act (CITA) has approved only 39 taxes and levies, there are over 500 various levies and taxes that are imposed by state and local government agents. These taxes are questionable and in the case where they are genuine, they are mostly duplicated and this has the effect of increasing the cost of doing business.

* Poor State of the Country’s Infrastructure

The state of our infrastructure can be deemed to be a nightmare to both entrepreneurs and the rest of the country’s population. With the existing infrastructure deteriorating and in some places it is non-existent; the cost of doing business has tremendously gone up. The state of the country’s road network makes it hard for entrepreneurs in the agricultural sector to transport harvested produce from farms to processing factories. According to a report released by the World Bank, Nigeria’s pace of socioeconomic development and growth is way below what we can achieve. This is mostly because of the erratic supply of electricity which has negatively affected many businesses. The outcome of power problems has prompted entrepreneurs to generate power through expensive ways that have in turn increased their production costs and made their products uncompetitive due to high prices. Our government should put policies in place to perk up Nigeria’s infrastructure so as to promote successful entrepreneurship.

* Failure to Adapt to the Changing Business Environment

Majority of those who venture into MSMEs (Micro, Small and Medium Enterprises) do so because of their need to make money and in almost all cases, such entrepreneurs lack relevant and adequate information about the businesses they engage in. In the event where problems arise, most of these business owners lack sufficient problem solving skills and in the end they find it hard to survive. With the telecommunications sector having grown by about 206.5 % between 2002 and 2004 and is continually expanding, Nigeria has become one of the fastest growing ICT market not only in Africa but also worldwide. This presents a challenge to entrepreneurs who have not embraced technology, and who are now finding it hard to remain relevant in the competitive business environment. For existing and potential MSMEs to survive and be relevant, we must adapt to the changing business environment and embrace technology.

* Addressing the Challenges

Solving the problems encountered requires a combined effort by both the entrepreneur and all concerned stakeholders. As Small and medium business owners, we need to increase our knowledge and skills of the market by acquiring relevant and up to date education particularly in your area of business. Our entrepreneurs need to collect information about their target market by seeking help from consultants and professionals who have experience in the particular market.

One strategy that can be used by our small and medium entrepreneurs to remain relevant and competitive in today’s market is to come up with fresh and creative ideas of doing business. Due to the increase in technology, business is fast changing, thus our MSMEs need to constantly re-invent the way they do business.

There is a great need of creating a strong link between MSMEs and supporting institutions if Nigeria is to fully benefit from such businesses. Though some financial institutions are still reluctant to provide financial assistance to MSMEs, there are some that give out loans at reasonable rates provided the business sounds viable. The key challenge is for our entrepreneurs to prepare sound business proposals. For our country to achieve its goals and stop relying on oil alone, we need to focus much attention needs on the private sector and our government must create a conducive atmosphere for such businesses to thrive and drive the country towards economic prosperity.

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Source by Peter O Osalor

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November 9, 2022