Common Investing Mistakes And How To Avoid Them

Investing is a great way to boost your wealth for the long term; however, if not done right, you may end up making careless mistakes that could cost you. Thankfully many of these costly investing errors can be avoided just by being more aware.

Below we highlight some of the most common investing mistakes and advice for preventing them.

Buying When Everyone Else Is.

The media will often cover a particular stock when it performs well, thereby encouraging more people to jump and invest in shares. However, be cautious about following the crowd, particularly when you have a volatile market. More often than not, these stocks have already reached their peak and are now overvalued. Investment advisors will tell you that if everyone is rushing to buy, you are already too late.

Investing in Businesses You Don’t Understand.

Often individuals will invest in businesses that they do not understand just because that particular share or stock is trending or hot at the moment; however, this is the wrong move to make. Instead, you should be focusing on investing in industries whose business model you have a clear understanding of, such as real estate or intellectual property.

Industry professionals will know when business is booming or slowing down, better understand how to avoid potential losses, and can find opportunities for smart investment decisions. With cryptocurrency or blockchain technology investments, look to CrypoVantage for resources and information so you have a greater understanding of these new industries. Alternatively, you can also avoid this issue by investing in a diversified portfolio of mutual funds as opposed to individual stocks. Generally, you won’t want to have more than five to ten percent in a given investment.

Being Impatient.

The idiom, “slow and steady wins the race” applies to a lot of things in life, and it certainly applies to investment strategies. The stock market operates at a much slower pace than most of us would expect or like. Don’t expect to see the kind of gains or profits you would want immediately after buying a share. Instead of being realistic about company operations will help you understand that investments take time and growth to flourish.

Frequent Trading.

Day traders in the United States make their living from frequent trading, but smart investors should not be following this method. Not only is frequent trading anxiety-inducing, but you usually have to know exactly when is the best time to sell, which can be difficult to pinpoint if you don’t have years of experience in day trading. Additionally, the short-term tax rates and transaction costs will certainly hurt your wallet and you’ll be missing out on gains from potential long-term investments.

Letting Your Emotions Take Over.

Don’t let panic and greed take over your decision-making. When the markets are down, fear may drive your decision to sell. But relying on this emotion instead of careful planning and logic isn’t a wise investment strategy. Selling stocks requires a lot of thought and consideration, and if you sell without really thinking about your decision, you are just guaranteeing losses. Similarly, you may let excitement overtake you and end up rushing to buy a stock just because it’s popular. This isn’t a smart investment strategy either. You need to do your research before purchasing shares.

Before you get started on your investment journey, consider hiring a New York securities lawyer. Securities lawyers are transactional lawyers in that they advise their clients about how to make a public offering. They prepare documents and negotiate investments. So if you’re an investor or shareholder in a company, a securities attorney protects you by ensuring a company is following all the rules and regulations that are associated with selling stock. An attorney can check into any company that you’re thinking of buying into, and then if you are taken advantage of, can represent you in court.

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Why It’s Useful For Your Career To Learn Latin

Having a solid career plan can become your ticket to gradually improve the quality of your life. When you have one, you’ll have an idea of how you can personally and professionally grow. A career plan allows you to create goals, improve your weak areas, and gain skills that are vital in the world of employment. A career plan also helps you set a specific timeline for your goals.

There are actually a lot of ways on how you can jumpstart your career. But, if you’re out of ideas, learning Latin can be a great start. This language might be considered dead for some but having the ability to understand and communicate in Latin can have long-term effects on your career. Exerting effort to learn Latin online and from other platforms can help you hone important skills that’ll make it easy for you to stand out as you’re starting your career.

Listed below are three reasons why learning Latin is useful for your career:

1. Promotes Focus And Patience.

Unlike the English language, wherein you just have to make sure that the tenses of your verb match the subject of your sentence, Latin is more complicated. Before you can create a clear and effective sentence in Latin, you have to master numerous strings of prepositional and appositive phrases and subordinate clauses. You also have to be careful about the verb that you use at the end, as this word ties the entire thought of the sentence.

Going through the cycle of learning these words and knowing how these words work in a sentence can help promote focus and patience. You need to be focused so you’ll know which words to use for your sentence, and you also need to be patient to ensure that all of the words you’ll use in the sentence can effectively deliver a clear and complete thought. Additionally, you’ll also have to be patient to translate English words into Latin and vice versa.

Both of these skills are vital for any career. Focus, for one, is vital because it’s actually the gateway to all of your cognitive functions. Your ability to focus can affect your perception, memory, problem-solving, reasoning, learning, and decision-making. It’ll be challenging for you to dive into any career if you don’t know how to focus because your ability to think will greatly suffer.

Patience, on the other hand, is also important because it’s one of the key elements of success in any workplace. It’ll be very easy for you to succeed if you know how to be patient in everyday situations and your dealings with other people.

2. Encourages Outside-Of-The-Box Thinking.

For you to come up with an effective sentence in Latin, you have to think outside-of-the-box to ensure that you’ll end up using the right words to convey your message. For starters, you need to translate the Latin verb in English (usually found at the end of the sentence), and then identify the subject of that verb (usually found at the very beginning of the sentence. You have to go through this process countless times to ensure that you’ll end up with a reordered and smooth sentence.

This entire process will gradually hone your ability to think out-of-the-box because you’ll have to move non-linearly through the Latin language and consider other disciplines in the language. This skill can significantly help you in your career because thinking out-of-the-box helps you to view problems from a very unique perspective.

Instead of riding into any bandwagon, having the ability to think out-of-the-box will motivate you to come up with new and innovative strategies or solutions.

3. Makes It Easy For You To Understand The Intricacy Of Law, Logic, Government, and Theology.

If you’re planning to create a career in the fields of law, logic, government, and theology, you should definitely learn Latin since the terms used in these fields mostly originated from this language. Latin excelled in these fields during the ancient times, which is why most of the words and terms used were coined to them.

Having in-depth knowledge about the Latin language – what the words and terms mean and how these should be used – will allow you to excel in the mentioned fields. When you understand Latin, you’ll easily know what habeas corpus, pro bono, subpoena, and caveat emptor means.

Your Efforts Count.

There are a lot of ways on how you can learn Latin. Depending on your schedule or budget, you can learn Latin online, sign up for classes, or have one-on-one sessions with a tutor.

Regardless of the platform you’re planning to use to learn Latin, make sure that you exert more time to practice Latin and read Latin daily. Coupled with the right learning platform, your efforts will surely go a long way for you to learn Latin and improve your career!

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Making Sure Your Employees Succeed: 5 Things You Can Do To Stay On Top Of Production

Being a business owner or manager in charge of a team of employees can be hard, even if they are among some of the brightest people you know. All people, no matter how intelligent and skilled, need a little bit of nudging in the right direction so that they stay on track and continue to progress in their careers.

As a boss, there is a bit of pressure on you to motivate these folks by maintaining a working environment that is nurturing, supportive, constructive, and which encourages individual growth in addition to company success. If you are looking for some ways to stay on top of production in your business, here are five great tips.

Foster a Culture of Clear Communication.

A huge tip if you’re looking to motivate people to increase their efficiency and output is to make sure you foster a culture of clear and honest communication and feedback in your workplace. Being a boss that is open to constructive feedback and who actually implements that feedback is huge for your team’s morale, and will motivate them to do better work for you. While this type of office space is typically attributed to a startup office, you can implement a culture shift no matter where you are in your business’s growth.

Do a Group or Individual Goal Setting Session, and Keep Track.

Having your employees set goals for themselves individually and as a team gives them something clear to work toward, which will guide their work forward. If in recent years you have been feeling that your team is slacking or feels stagnated, getting them to brainstorm some OKRs, or Objectives and Key Results, is a great way to carve a path that is fresh and encourages progression. As always, every positive change like this in your company should be systematized and tracked to make sure it works, which is why Profit creates software to track business activity and progress toward these OKRs.

Prioritize Work/Life Balance.

Your employees have more in their lives than working for you. While it seems obvious, some business owners and managers forget this fact all the time when they are designating workloads. Make sure you have a rich benefits package and offer your employees enough personal time off, sick leave, family sick leave, parental leave, and vacation time. It may also help to implement a work-from-home policy to create a culture of trust and understanding and to allow your team to operate on their personal schedules if something comes up in their home life.

Make Your Space Match the Ideal of Collaboration.

Many business owners taut that they love to collaborate and have their employees brainstorm together to solve problems and tackle projects, but if you are still working in a segmented office with little common space for collaboration, you are not putting your money where your mouth is. Uneebo designs office spaces that match that culture of collaboration for office spaces of all shapes and sizes. Your project manager will thank you if you implement a floor plan that is open and allows for them to easily converse with all members of their teams to work on a new contract or project.

Consistent Check-Ins.

Once you have created company and individual team member goals, it is important that you frequently check in with all members of your staff to make sure that everything is going smoothly. Having frequent chats with staff will also help you deduce what you need to change in order to make it easier for your employees to meet or exceed their goals.

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Side Hustling… Which Kind Should You Have: Hobby Hustle, Side Ride, Or Gateway Gig?

by Dr. Todd Saxton and Dr. Kim Saxton, co-authors of “The Titanic Effect: Successfully Navigating the Uncertainties that Sink Most Startups“ 

Side hustles are quite the rage right now, in part enabled by technology and the gig economy. Surveys suggest that as many as 45% of American workers have a side hustle. Among them, 30% say they need the side hustle to cover their expenses, while 34% use it to generate disposable income. Millennials are more likely to have a side hustle than older workers. And people earning higher incomes are more likely to have a side hustle — in part, as some side hustles require capital to start.

What exactly is a side hustle? Generally, side hustles are work someone does outside of their full-time job – maybe to earn extra money on the side. It’s not a typical part-time job, though — e.g., working at the fast food restaurant 12 hours a week for some extra bucks. People with side hustles tend to generate income doing activities they are passionate about via freelancing, contracting, on-call work, or even starting their own part-time business. Think Lyft driving on the side, running a seasonal baked goods booth at the holiday mart, sharing your handiwork crafts via Etsy or even helping a company with their digital marketing content. We group side hustles into three categories:

The Hobby Hustle. You have a passion that is a craft or hobby that you can do for more than yourself, and even earn a little extra money — like your guitar repair business.

The Side Ride. You have a need and/or opportunity to make some extra bucks doing something you enjoy, like Lyft/Uber driving. It is meaningful and provides extra income, but not exactly a passion.

The Gateway Gig. You are doing one of the above for now, but hope that it — or a related opportunity — will become your full-time gig someday. For now, it is a means to explore a possible change.

People can make a surprising amount of money through their side hustles. The average income is more than $1000 per month. But, the majority of side hustles generate less than $500 per month. There is a wide range of outcomes—and as noted, objectives run the gamut from a temporary source of fun or funding, to working on a hobby or even to an exploration into something that could be bigger.

So if you are so inclined, when should you turn a side hustle into a full-time gig? There are no hard and fast rules, but here are some guidelines as to when to pull the trigger to a gateway gig:

1. It is or could generate enough profit to support you.

It seems obvious, but you need to pay attention to the profit. Hopefully, the side hustle is generating a profit. If not, that should be the first focus. If so, can that profit replace your full-time job? Or, if you were to put more effort into the side hustle, could the profit be increased enough to do that? It is not infrequent that people doing side hustles think their business is making money, but do not factor in their own time and opportunity cost. Make sure to invest your time where you can get the biggest payoff — whether that is financial or through intrinsic rewards. That might be a side hustle or it might be by investing more effort at your employer.

2. It would growth quickly if you worked on it full-time.

Once you have paying customers, you likely need a dedicated resource to service them. You can’t disappoint your customers! Growing a business takes work. You can get it started on a part-time basis. But, it will likely need you going full-time to really take off. When your full-time job interferes with getting necessary work done on the startup or former side gig, it’s time to make a switch.

3. It has enough traction that others might want to invest in it.

If your side hustle is growing rapidly, it might become a fundable startup. So, consider if it’s time to actively seek investment. Here are some key factors investors are looking for:  1) A reasonably large market, 2) a strong product that can differentiate itself, and 3) a team that can make the product successful. Want to know if your side hustle is fundable? Check out this blogpost.

You should not feel pressure to make your side hustle into something more. You might not like your Hobby Hustle if you try to make it a full-time source of income. If you are in it for fun, make sure it stays fun. A Side Ride might not sustainable as a sole means of income. Even worse, doing it full-time might actually be annoying as what were minor inconveniences interfere with making money. But if you have the itch to try converting your side hustle to your main Gig, maybe now is the time to start planning. Start to consider what events or success indicate that you are hitting the kind of milestones that make a side hustle actually a fundable startup. Whichever route you choose, hustle on!

 

Todd Saxton is associate professor of strategy and entrepreneurship and M. Kim Saxton is clinical professor of marketing at the IU Kelley School of Business at IUPUI. The Saxtons are co-authors of “The Titanic Effect: Successfully Navigating the Uncertainties that Sink Most Startups”.

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Consider Instant Online Payday Loans To Raise Emergency Funds

Now, there are many people who are losing their jobs and have to use instant online payday loans. It may be as a result of being laid off. The reason most people get these loans is because of their income.

It may be tough to keep a job. However, if you can come up with the cash and meet the loan payments that you need, it can be easier. Instant online payday loans allow you to get the money you need.

There are times when all you have is the salary that you get. Many times you may not even have any other way to get the money you need. However, if you get payday loans you will find that the cash you need will be in front of you in just a few hours.

Make sure that you find a company that you trust.

When you are looking to get payday loans, you should always be sure to find out what you need. Then, make sure that you find a company that you trust. There are companies that do not offer the best service and that can end up costing you more money. This is why you need to shop around and find the best payday loan provider.

There are many reasons to get instant online payday loans. However, the main reason is for those that are just out of work and have nothing to help them get by. These types of loans can give them the cash they need in a matter of hours.

This is especially useful for those that have a job and no where else to go. If youare just out of work, you may have some extra money saved up for emergencies. However, when this money gets put in an account, it is gone in a matter of days.

However, with payday loans, you will find that the money that you need will be available for you. You will never have to pay them back. There are no hidden fees and you do not have to pay a lot of money up front.

You can either apply for one online or you can contact a company near you.

When you get instant online payday loans, you can either apply for one online or you can contact a company near you. When you find a payday loan company that you trust, you can sign up for the loan. The money will be processed in a short amount of time.

In a matter of hours, you will know if you need to pay off a debt or not. You will never have to worry about interest rates on your loans. In addition, you will never have to wait for the money.

Payday loans are easy to get. You will never have to fill out too many paperwork forms. You can get your loans to go to a lender and have them sent to you within the day.

Once you are approved, you will never have to provide a credit check or fax documents. There are many different lenders and you can choose from a list of companies. This is how you can get the money you need and without having to get through a lot of red tape.

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5 Business Security Tips To Protect Your IT Systems

The global average cost of a security breach is $3.92 million. If your business isn’t ready to spend that type of money cleaning up a mess, you need to work on your business security.

Increasing your business security will boost your ability to confidently and confidentially serve customers. Continue reading to learn what to do to protect your IT systems.

1. Get Your Employees on the Right Page.

Don’t assume your employees understand basic cybersecurity best practices. Employee training can save your company thousands of dollars. The time and money you put into helping your employees learn how to avoid phishing schemes and other types of attacks will help you avoid disasters you’ll never know about.

2. Always Update Software.

It’s easy to forget to update software. As long as the software is running properly or isn’t causing too many problems, everyone keeps using it. Instead of ignoring software updates, your business should check for software updates regularly. As soon as an update is available, it needs to be applied.

3. Enforce Secure Passwords.

Another simple fix that many people still ignore is secure passwords. If you or your employees are still using birthdays or pet names as passwords — you need to cut it out right away.

Having a specific set of requirements for secure passwords will help keep your company safe from attacks. There are password generators you and your employees can use if you need help keeping it random.

If people are worried they won’t be able to remember their passwords, you can look into using a password manager for your company.

4. Use Security Software.

Hackers are always looking for companies that have security issues. If you don’t have security software running on all your devices, you might find yourself in a sticky situation.

Using quality security software will help you avoid downtime and security breaches. This software usually doesn’t cost a great deal of money and can keep you from losing thousands of dollars to resolve what happens due to the attack.

5. Outsource Your Security.

If you don’t feel confident in your ability to implement these important security measures, you may need some additional help. You might even be confident in your ability to do the things above, but you don’t have time.

Investing in cybersecurity services to help you take care of important issues while you focus on your core business could be a good move for your business. Review a few options for your business and see what works best for your needs.

6. Increasing Your Business Security.

Now you know more about how to increase your business security. Small and large businesses have problems with security breaches and now you know how to protect yourself no matter how small or big your business is.

Do you need more help with security and other important issues? Our site is full of articles to help you as you’re growing your business.

Browse our website, find a section that interests you, bookmark it, and visit us again soon.

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The Glow Up: 13 Sources Of Alternative Financing For Startup Businesses

Are you having trouble getting financing for your business through your bank or credit union? If so, don’t give up; you still have options.

If you can’t get a traditional loan through your financial institution, you should consider alternative financing. Alternative financing is usually easier to obtain than traditional loans and can easily be applied for online in a few minutes. To see what alternative financing options you have, keep reading below.

First Things First: What Is Alternative Financing?

Alternative financing can be defined as the means of obtaining capital outside of the traditional banking system. Most of these alternative options are available online and the applicant will never need to step foot inside of a bank to obtain these financing means.

Alternative financing can be obtained through places such as crowdfunding platforms, online loan marketplaces, third-party payment providers such as PayPal, and cryptocurrencies. Usually, when it comes to alternative financing for your business, it means that you will be applying online for a loan of some sort.

As for the reasons you may choose alternative financing over traditional financing, it’s that it can be easier to maintain than a traditional loan at a bank and it can be faster and more convenient. There are a few options when it comes to alternative financing, and below we have outlined a few to help you find the best option for you and your business.

1. Short-Term Loans.

Short-term loans are a great alternative way to finance your business and the best part is it can all be done online. This loan is a type of term loan that has a shorter repayment time than traditional loans that’s usually within a year or just a few months.

Short-term loans also offer other benefits, such as a factor rate fee structure instead of a traditional interest rate. The lender will care less about your credit score when applying and more about your business’s revenue, which makes getting a short-term loan a breeze.

Another upside to short-term loans is that they are usually processed in just a few business days, which is great for when you need a loan fast. Just beware when applying for short-term loans online. Do some research and make sure the site you’re applying through is legit.

2. Project Financing.

If you’re looking to fund a non-traditional project or a complex one, then getting funds through project finance is the best decision for you and your business. Project financing is a long-term loan that will give you the funds to complete a project in any stage of the development process.

3. Merchant Cash Advances.

Merchant cash advances are similar to short-term loans in the sense that they are easy to obtain, can have a factor rate interest fee, and can be more expensive than a loan you can get through your bank or credit union.

When looking at a merchant cash advance, it’s important to point out that it isn’t a loan. In fact, a merchant cash advance is an advance on your future earnings.

The lender you choose will front you a sum of money that you both agree upon. Then, they will start recouping the advance with interest.

The collection will be in line with your daily sales, meaning they will take a percentage of them until the advance is paid back in full. Merchant cash advances should only be considered if you can’t get any other funding for your business.

4. Business Credit Cards.

If you’re looking for a useful way to pay your business expenses without taking out a loan, then getting a business credit card is the right route to go. These credit cards can be used to pay items that have a large price tag or even ones that have a smaller bill.

The best part is that as you put bills on your credit card, you will also be earning points or credit through your credit card institution to help with future bills. When selecting your business credit card, make sure to get the one that will give you the most cash back on the items you will be buying the most.

5. Microloans.

When a loan is less than $35,000, it’s considered a microloan. They have a low interest rate and are usually given to newer businesses and start-ups that need working capital. They are ideal for groups that are under-represented such as veterans, women and minority-owned businesses, and those with bad credit.

To get a microloan, you will have to venture online. Usually, banks are not interested in lending out these small loans. So if you’re looking to get a loan face-to-face, you’re out of luck here.

6. Lines of Credit Through Online Lenders.

A line of credit is a lending option that can be obtained from an online lender or a traditional bank. When it comes to loans for your business, usually, lines of credit are easier to obtain online than a regular bank.

A line of credit is a safety net in a way. It’s a source of working capital for businesses, which means you are granted a specific amount of money that you can withdraw at any time. A line of credit can be compared to a credit card, but you are only charged interest on the amount you take out.

Getting an online line of credit for your business is a great alternative financing choice because it won’t require you to have a specific amount of money to open it. It will help you get the money you need in tight times, such as paying payroll.

7. Online Crowdfunding.

If you’re looking to raise money from affiliates and peers and not take out a loan, then you should consider crowdfunding. When it comes to crowdfunding, there are 4 different types. They are debt, equity, rewards, and charity.

When using rewards crowdfunding, you will not be required to pay the money back, but you will have to give those who donate something in return. Equity-based crowdfunding is when someone invests in your business in exchange for products or a share.

For some businesses and start-ups, crowdfunding is the only option for them to receive funds. There are multiple crowdfunding sites online. All you have to do is set up an account and then distribute your link to those who are interested in helping you out.

8. Small Business Administration Loans.

The United States backed organization known as the Small Business Administration (SBA) has loans that are a great alternative to traditional bank loans. SBA loans can be given through online lenders and provide you with the safeguard of knowing that if you default on the loan, the SBA will repay a portion of the debt left behind.

SBA loans usually come at a lower interest rate since there is less risk for the bank or lender. The SBA offers a few different loan programs, so you should look to see which one fits you and your business the best.

9. Online Loans.

When it comes to obtaining loans online, you will find a multitude of online lenders that are offering financing products very similar to a traditional bank’s term loans and lines of credit. The way that online loans differ from ones you can get down the street is that they come with less strict requirements, so it’s easy for almost any business owner to obtain them.

Online loans are also easier to apply for than the latter and are usually funded in record time. The only downside to these loans is that they will have a higher interest rate than the ones you can obtain through your credit union or local bank.

We suggest getting an online loan if you’ve been declined for a loan at your bank or credit union. Since these loans have a bit more leeway in the requirements, you’re bound to be approved in no time.

10. Invoice Factoring.

Invoice factoring is financing that will free up cash from outstanding invoices. You will go through an invoice factoring company that will buy all your unpaid invoices for a percentage of what they are actually worth.

Then, the company will collect payments from the customers that have outstanding invoices. Once they’ve received the money, they will send you the remaining amount of the invoice and keep a small service fee.

If your business has a number of unpaid invoices that lead to cash flow issues, then this is the best decision for you. You will get your cash one way or another and bad credit isn’t an issue for the factoring companies.

11. Term Loans.

A term loan is also known as an installment loan. This financing option is a traditional form of business financing that is usually obtained from a local bank or credit union. The designation of term loan means that over a set amount of time, the loan is repaid with your choice of a fixed or variable interest rate.

The structure of term loans is very similar to that of traditional loans. The only difference is that there are many choices online for term loans. Term loans can be applied for directly online through your selected lender’s marketplace or even over a crowdfunding platform.

Usually, these modern term loans are more customizable and user-friendly when compared to traditional loans from banks. These loans have flexibility and transparency built in, which allows you to receive funds and send payments online without any confusion or hassles.

12. Invoice Financing.

You may be thinking that invoice financing sounds pretty similar to invoice factoring. The truth is that they are two different things.

When it comes to invoicing financing, the company you choose will give you a line of credit, using your unpaid invoices as collateral. The amount of the line of credit will depend upon your outstanding invoices. Unline invoice factoring, the company will not buy your invoices, so it’s on you to call and collect from your customers.

If your business has a decent amount of unpaid invoices but doesn’t need cash right away, this is the perfect option. It has lower fees than invoice factoring, which means more money in your pocket.

13. Business Grants.

Even though grants are the most difficult type of financing on our list to get, they are worth it if you think you’re eligible. Before going to take out a loan, look to see what grants are up for grabs and what their requirements are.

You have nothing to lose by applying and seeing if you can get some free money. Most business grants are funded by the government and even some privately held businesses will offer them.

The best part about grants is that you will not be required to pay them back and there will be no interest involved. When it comes to needing money without interest or fees, grants are the best way to do so.

14. Now You Know What Alternative Financing Options You Have for Your Business.

Figuring out the best way to finance your business can be a hassle, especially if you’ve been declined for a traditional loan through your bank or credit union. We’re here to help you get over this rough patch by listing out the top 13 alternative financing options you have for you and your business.

From financing that uses unpaid invoices to ones that don’t care about your credit score, you’re bound to find the best financing to get your business up and running.

For more information and tips on business start-ups, be sure to check out the rest of our website.

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Does Your Small Business Need Workers’ Compensation Insurance?

by Veronica Baxter

Perhaps. Statutory workers’ compensation laws are particular to each state, but in general, businesses having employees that are not large enough to self-insure must carry workers’ comp insurance. The number and type of employees triggering the workers’ compensation insurance requirement varies, and each state has different exceptions to that requirement.

The Number of Employees You Have Matters.

In most states, if you have just one employee you must carry workers’ compensation insurance. These include Alaska, Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Florida (for construction businesses), Hawaii, Idaho, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri (if a construction business), Montana, Nebraska, Nevada, New Hampshire, New Jersey, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Dakota, Tennessee (if construction, coal mining, or trades), Utah, Vermont, Washington, West Virginia, Wyoming,

In Virginia, if an employer has two (2) or more employees it is required to carry workers’ compensation insurance.

In a handful of states, if you have three (3) or more employees you must carry workers’ compensation insurance. These include Arkansas, Georgia, New Mexico, North Carolina, and Wisconsin.

In Rhode Island and South Carolina, if you have four (4) or more employees you must carry workers’ compensation insurance.

In a handful of states, if you have five (5) or more employees you must carry workers’ compensation insurance. These include Alabama, Mississippi, Missouri (all businesses except construction), Tennessee (if not construction, coal mining, or trades), West Virginia (if agriculture),

In Florida, if you have an agricultural business and have six (6) or more employees and twelve (12) or more seasonal employees, you must carry workers’ compensation insurance.

In Texas, workers’ compensation insurance is optional unless the business is a construction company on contract for the government.

The Size of Your Business Might Matter.

In Kansas, workers comp insurance is required for all businesses with employees and with gross payroll over $20,000 a year.

The Type of Employees You Have Might Matter.

Most states provide an exception for household and domestic employees, such as Alabama, Arizona, Colorado (when part-time), D.C (when working less than 240 during a calendar quarter), Hawaii (when earning less than $225 per quarter), Idaho, Iowa (if making less than $1500/year), Kentucky, Maine, Mississippi (if less than five workers), Missouri, Montana, Nebraska, Nevada, New Mexico, Oklahoma, Pennsylvania, Rhode Island, South Dakota (if working less than 20 hrs/week and less than 6 weeks in any 13-week period), Utah, Washington (unless there are two or more employees at 40 hrs/week or more),

Most states provide an exception for farm laborers and harvest or transient help, such as Alabama, Alaska, Arizona, Arkansas, Delaware, Illinois (if less than 400 days of labor a year), Iowa (if farm pays less than $2500/year), Kansas (if gross payroll under $20K), Kentucky, Maine, Maryland (if less than 3 FT employees or less than $15K annual payroll), Mississippi (if less than five workers), Missouri, Nebraska, Nevada, New Mexico, North Carolina (if less than ten workers), Oklahoma, Pennsylvania, Rhode Island, South Carolina, South Dakota, Utah, Vermont (if annual payroll is less than $10K), Washington (if minors working on the family farm),

Some states exempt real estate agents and other brokers paid by commission from workers’ compensation.  These include Arkansas, Colorado, Hawaii, Idaho, Louisiana, Massachusetts, Missouri, Montana, New Mexico, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Utah.

Alaska provides an exception for commercial fishermen.

Large National Businesses May Self-Insure.

Most states allow large businesses to self-insure except North Dakota and Ohio, which require businesses to purchase workers comp insurance from a state-administered fund.

Inquire as to the Specific Requirements Where You Do Business.

Every state has a specific definition of “employee” for the purposes of workers’ comp. Many states include part-time workers, and several states include family members, minors, and illegal aliens as employees. Every state also specifies whether sole proprietors, single member LLCs, partners, and family farms are considered employees and may opt-out or into workers’ comp.

The bottom line is, look carefully at your state’s workers’ comp requirements and if doing business in more than one state, look at every state’s requirements.

 

Veronica Baxter is a blogger and legal assistant living and working in the great city of Philadelphia. She frequently works with Larry Pitt, Esq., a busy Philadelphia workers’ compensation lawyer.

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The Benefits Of Alternative Education For At-Risk Students

There is significant data to illustrate the importance of providing the right kind of educational opportunities to at-risk and special needs children. Sadly, students from lower income families are often less likely to have adequate access to nutritional food, safe housing and suitable healthcare.

It’s never been more important to work towards a positive educational future for children who are considered at-risk or have special needs. In this article, we look at some of the huge benefits to be had from high-quality early childhood, youth empowerment and alternative education programs.

Positive Outcomes from Alternative Education.

There is a big correlation between early childhood programs and boosts in real income later on in life. Children who have been exposed to a high quality start can expect 3.5% in income improvements upon reaching adulthood.

Additionally, a youth empowerment program has been shown to boost countless personality attributes such as behavior, self-esteem, better social skills and far better academic results.

One of the biggest benefits of alternative education programs for at risk youth comes from engaging with the positive environment. Negative peer pressure and influence can play a part in amplifying risk-taking behavior, but spending time around more positive influences not only reduces the opportunity to take a misstep, but also promotes an environment in which poor decision making is reduced. This is an important factor as they transition from childhood, through teenage years and into adulthood.

This isn’t just exclusively the responsibility of the educational environment, of course, and a supportive family, social and community network plays a huge role in boosting these benefits.

There is a big correlation between low income families and children developing obesity (around 45% of children living in poverty are considered overweight or even obese). This contrasts sharply with children from wealthier families who tend not be overweight or obese.

However, despite the negative effect of low income backgrounds on obesity rates in children, this youth development program in Brooklyn, New York, focuses heavily on nutritional guidance while incorporating meaningful exercise into their daily routines. The outcome was extremely positive with engaged students losing an average of 20lbs in weight and moving into a healthy BMI range.

An education support program in the US called 4-H has had some fantastic results in children across a variety of age groups. Simply by being involved in the program, students doubled their likelihood of taking part in extra-curricular information technology, engineering or science courses. 10th and 12th grade girls specifically seemed to respond well, and their participation in the program led to doubling and tripling their likelihood of engaging with science based subjects.

Without people training, developing and learning new skills in this sector, particularly in their ability to identify students who are struggling in a traditional classroom environment, children would not have these increasing number of opportunities to engage in alternative education. With a joined-up approach to alternative education, children can benefit from early years education through to graduating with a diploma and, more importantly, getting a significant head start in life.

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Is Your Company’s Bench Deep Enough During Difficult Times?

by Bill Higgs, author of “Culture Code Champions: 7 Steps To Scale & Succeed In Your Business“

In the uncertain times that the coronavirus produced, business leaders were forced to face the fact that employees might not be available every day to do their jobs – either because of their own health concerns or because they were scrambling to make childcare arrangements because of school closings.

And, as the economy takes a hit, some businesses may even need to downsize, leaving the remaining workers to take on duties they are unprepared for and weren’t hired to carry out.

That’s one reason why it’s always a good idea to cross-train employees, allowing someone else to step in when circumstances necessitate it. Ultimately, you want everyone who works for you to broaden their knowledge and expand the scope of what they normally do.

The result is a more efficient and productive workplace.

In my younger days, I was an Army Ranger, where the need to cross-train was inescapable. If you are on a critical military mission and someone goes down, another Ranger needs to take over that person’s duties. Otherwise, the mission would be scrapped.

The average business day may not be as severely distressing as a military mission, but just as in the military, cross-training comes with benefits. It prevents mistakes. It improves accuracy. It saves time. It saves money.

And each additional duty an employee can take on during uncertain times could make the difference on whether a project or order is completed on time, and whether missed deadlines leave customers unhappy, costing the business money – or even leading to it going out of business.

Some business leaders may say they just can’t work in the time for cross-training because they and their employees are too busy. They probably are busy, but it needs to be a priority and they need to figure out a way to find the time. We’re probably seeing right now just how important it can be.

A few suggestions he has for working cross-training in to harried schedules include:

Make use of downtime.

Few people are busy every minute, so take advantage of any downtime to slip in cross-training. That way no one is just sitting around waiting for the next project. At Mustang, for example, if an instrument engineer’s work slowed down, then we moved him or her over to automation or some other functional area that was related to, but slightly different from, the person’s regular job.

Schedule time.

I’m skeptical when people tell me they don’t have any downtime, but let’s assume that’s so. Then I recommend you set aside time specifically dedicated to cross-training. It’s that important. Figure out who you need to cross-train, and find the areas of your business where cross-training will pay off the most.

Implement “lunch-and-learns.”

Nearly everyone eats lunch or takes a break at mid-day, and that’s a great time to set up some lunch-and-learn times when someone in the company can teach others about what they do. At Mustang, we even had vendors come in and talk about their products and services.

An added bonus to cross-training is people who don’t normally interact are brought together and develop a better appreciation for what others do. That helps to create an even greater sense of team throughout the organization, which is especially important during difficult times like these when everyone needs to pull together.

 

Bill Higgs, an authority on corporate culture, is author of “Culture Code Champions: 7 Steps To Scale & Succeed In Your Business“. He recently launched the Culture Code Champions podcast. Higgs is also retired CEO of Mustang Engineering Inc., which he and two partners started in 1987 to design and build offshore oil platforms. Over the next 20 years, they grew the company from their initial $15,000 investment and three people to a billion-dollar company with 6,500 people worldwide; since then, it has grown to a $2 billion company with more than 12,000 people.

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Things You Should Know Before Freelancing

These days, more and more people are freelancing. Some might have gotten into it by accident while between regular jobs while others made a conscious decision to start their own freelancing business. This is definitely challenging but can be very rewarding at the end of the day.

If you are considering freelancing, it’s important to know a few things first.

Success Takes Time.

Freelancing is not an overnight success. You will not see the money pouring in immediately after you have established yourself as a freelancer. Just like with any other type of work, it takes time to build up your success and see the money pouring in. There are many details that go into being a freelancer that determine how long it might take to reach that point, even if you already have impressive skills in your chosen field. The bottom line is that you should always give yourself at least a good three months before you expect to see truly positive results from your work.

Being Your Own Boss is Hard.

While you might think it’s easy, being your own boss is anything but that. Most people are fairly lousy bosses when they are freelancers who work for themselves. It’s difficult and you might not be as disciplined as you think. Additionally, there are certain things you might have issues with as your own boss. For instance, you might not stop to take a lunch break, take time off, take a much-needed vacation or even know when to stop working. You may also have an issue with not knowing how much money you may earn or how much you can afford to spend as a freelancer.

Expensive Office Space is Unnecessary.

Overall, when you start your freelancing or have already established yourself as a freelancer, you don’t have to go all out and spend a lot of money on office space or even equipment unless you really need the latter. Clients only care that you provide quality services. You can simply work from your own home office or even a specific space like your living room or bedroom.

You Should Expect Droughts.

It’s important to be aware that freelancing does not guarantee a regular, steady salary. There will be moments when work will be scarce and you won’t have work to do and income to earn. Unfortunately, this is normal in the life of a freelancer. You should always be prepared for times like that and look toward your savings account to cover your expenses. As a general rule, you should have at least three months’ worth of money on which to rely in case of an unexpected emergency. If you don’t have ample savings, you will want to do your research on alternative funding sources, such as credit cards or direct lenders online, which may help you weather the storm following an unexpected emergency.

Clients Won’t Always Pay on Time.

Unfortunately, another normal part of freelancing is that many clients won’t pay on time. In the daily life of an average freelancer, you might wait several days before a client pays you for your work. As a result, it’s important to have a contingency plan in place for just such a situation.

When you create your invoices for your clients, you should add in clear and concise payment terms. Generally speaking, the standard for this should be 30 days. You may also begin charging interest from your clients once they have passed the 30 day limit for paying you for your work. You should know that the law is on your side as a professional freelancer. These are in place to protect you.

If you have larger projects that you are having difficulty getting paid for, you might want to consider charging deposits upfront. From there, you can set up a payment schedule to recover the remainder of what your client owes. This can lower the risk that you don’t get paid at all.

These are all important things to know before committing to freelancing. Once you know what to expect, being a professional freelancer is easier.

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To-Do List For Developing An Effective Online Course

From earning a degree to taking the next big leap towards the career, there are many reasons why people study. No matter why they choose to do it, learning offers a lot, helping you to achieve your goals in a career. The traditional approach to education cannot fulfil the modern-day requirements. The lectures provided in the classroom remain limited to the students available in the classroom.

However, with constant technological advancements over the past few years, educational space has come across a considerable shift. Today, students are largely inclined towards online courses. Both online courses and online course development have made a massive impact on the education industry. Everyone gets the opportunity to avail engaging means to pursue their desired course. You will find it really interesting to know what makes these online courses so successful. Let’s dig in further!

Easy Accessibility.

It is a wide-known fact that people, due to their personal or professional commitments, are unable to take certain courses. In such cases, online courses are an appropriate option as it affords them people with the opportunity to learn from the comfort of their home.

Interactivity.

Online courses are engaging and interactive as compared to conventional counterparts. Seminars, video, and audio support and presentations, quizzes, discussion boards, etc. are used in online courses. These provide students with a personalized learning experience, unlike textbook courses. Leading VR training companies are offering their broad range of services to ensure interactivity between the learners and instructors.

Things To Consider While Developing An Online Course.

With the diligent development efforts of online course developers, online education and its solutions have evolved as a flexible way to study. Let’s have a look at the different factors to consider when developing an online course.

Devise A Clear And Concise Content Strategy.

A comprehensive program content is the first step in developing online courses. Ignoring this may lead to the overemphasis of some points and the understating of certain others in the online course, irrespective of how good the subject matter is crafted. It enables you to understand your learners and their distinctive requirements. Consequently, it helps you to design the course content that revolves around providing your learners with what they need to know.

Schedule The Duration of Course.

Setting the course duration is another good practice along with the aforementioned. Keep the learners continuously engaged by delivering the content in comprehensible chunks. Ensure that your training module is no longer than 30 minutes. Such practices will enable you to set expectations in line with the attention span of your learners.

Use real-Life Scenarios.

Cognitive theory states that a vantage point makes any learning possible as it has a predefined model that facilitates the learners with more natural retention of information. Using real-life scenarios in your training material enables your learners to understand new information related to familiar situations. This further improves the level of knowledge retention.

Understand Your Learner’s Preferences.

As a good practice, you must ascertain your learner’s preferences during the development of an online course. By understanding your learner’s learning preferences, you can deliver an excellent online learning experience to your learners.

Take Feedback And Conduct Assessments.

Including feedback is one of the most contemporary features that you can employ while developing an online course. You can assess learners’ knowledge of how much they have gained at different stages of the course. Implement assignments, quizzes, and more. Share your feedback immediately after the assessment of every test. This way, learners can make necessary changes and develop further learning.

In Conclusion.

The strategies listed here hopefully gives you a good idea for the creation of online courses. When appropriately followed, it will undoubtedly reap significant benefits for both the trainers and learners.

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Using Your Business To Give Back To Your Community

One of the great things about running a business is that it allows you to give back to your community in so many different ways. This means that you not only get to generate a profit for yourself, but you can help out those around you and allow them to share in your success. If you’re running your own business, you may be wondering how you can use it to give back to your community.

Below are just a few methods that you can try:

Hire Locally.

An easy way to give back to your community through your business is by hiring locally. No matter where your business is located, there are likely people in that area that could use a job. When hiring, you should make your preference for people who live nearby. This will help your business to have stronger ties to the community and you’ll have employees who all live close to their job. No one likes to commute far to work, so your employees will be happier landing a job in their hometown rather than somewhere an hour away.

You can hire locally even if your business is conducted entirely online. Local doesn’t have to mean within a 1-mile radius when you’re operating online – it can simply mean within your city, state or even country. For example, rather than outsourcing some of your services to workers in other countries, you can hire locally by getting people from the United States. There are many things you can outsource in your business, but try to focus on sending that work to people as near to you as possible.

Provide Decent Wages and Benefits.

Hiring locally is a good start, but you should also ensure that you are providing those employees with decent wages and benefits. While there is a minimum wage across the country, that doesn’t mean that’s how much you need to pay. Offering employees competitive salaries will not only make their lives easier, but it will make your business an attractive place to work.

When you provide decent wages and benefits to your employees, you may also set off a chain reaction in your area. For instance, other local businesses in your area may see what you are paying your employees and raise their wages as a result. Now you have the people in your area earning more money, which means they have more money to spend at your business. Of course, every business is different, so you may not be able to pay your employees as much as you’d like. You should still take the time to do the math and figure out what the maximum amount you can pay your employees is while still turning a profit.

Produce Your Goods Locally.

Depending on your type of business, you may have products that need to get made. It’s often cheaper to outsource this operation overseas, but this doesn’t allow you to support your community. Instead, you should look for ways to produce your goods locally. Customers love when their items come with a tag that says “Made in the USA”, whether it’s union made clothing, furniture or automobiles. This benefit may even come to outweigh any additional costs you incur from producing locally. So, look to see what production options are available near you and focus on producing your goods as close to home as you can.

Support Local Organizations.

A great way to give back to your community through your business is by supporting local organizations. For instance, there may be some children’s sports leagues that could use some funding. By contributing to these organizations, you not only get to support great local causes, but you get to improve your brand’s reputation. Neighbors who see your business’s name on youth baseball uniforms are much more likely to become customers.

Host or Sponsor Charity Events.

Along similar lines, you can also get your business involved with different charities. If there’s a cause you care about in your local area, see if they could use some financial assistance. If you’re unable to provide financial help, see if there are other ways you can contribute. For example, maybe the charity is looking for a place to host their next event, and you could offer them your office space after hours. Another option is to provide a stack of discount cards to the charity that they can give out at their next event. There are several ways that your business can assist local charities – contact an organization that interests you and offer your help.

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How To Spread The Word About Your First Business

Spreading the word about your business is vital to enable you to create a constant stream of customers and to generate a buzz around your company within its first few weeks of opening. However, if you are starting a business for the first time, letting everyone know that you are open for business can be daunting.

This guide will take you through some of the easiest ways that your company can become a permanent mark on the landscape before long.

Become Part of the Community.

If you decide to open a physical store or another real-world location, it is paramount that you choose to integrate your business with the community that you are hoping to garner the support of.

Most communities across the country are willing to aid and support small businesses in their area to allow them to continue to thrive. To catch the attention of your whole community and ensure that the news of your opening spreads like wildfire, you should choose to attend community events, such as local fairs, or become a sponsor for events and celebrations in your area.

Contact the Press.

Not only do 69% of the US population still read the newspaper, but most press outlets have e-magazines and social media pages where they can post and share articles. Then, to communicate with a broader audience, you should consider contacting your local press office. If the story that you pitch appeals to them, they may be able to conduct an interview or feature piece in conjunction with your wishes that can be read or watched by thousands of residents. Press outlets are also likely to be interested in any launch events that you host, as these can generate buzz and make your business a hive of activity during the first few days of your opening.

Attend Trade Shows.

If your business appeals to a professional audience or is a B2B business, you might also consider attending trade shows to put your stamp on the market and allow other vendors to hear about your business and the products that you offer. This is the perfect time to make direct sales, as well as to give out business cards with all your information, which could generate leads that may later develop into regular custom. Trade shows also allow you to showcase your products and to create memorable display stands that will enable your business to speak directly to potential customers.

Pin Banners Everywhere.

To garner attention around your local town and further afield, or to simply help your online business to make a statement in the real world, you should consider pinning promotional banners everywhere that you can. As well as using window fronts and billboard space, you should consider investing in large format banner printing. Banner printing creates attention-grabbing visual displays that can instantly arrest the interest of a passing audience, even at a great distance.

Utilize the Internet’s Potential.

However, it is not just in the real world that you can promote your new company and ensure that it gets the custom that it deserves. Instead, harnessing the internet’s full potential will help a much more significant portion of your target audience to find out about your business. If you want to spread the word online, you should create a social media account to create viral posts. You may also consider joining online networking platforms, such as LinkedIn, where other professionals can hear about and connect with your company. Additionally, you can use SEO to help your business to appear at the top of specific search results, and invest in PPC advertising to allow potential customers to see your carefully curated advertisements.

Network with Other People.

However, there is no better way to spread the word about your business than through connecting directly with other people in a face-to-face capacity. One of the best ways that you can do this is through joining networking groups or professional online meeting groups, which you can often find on websites such as Meetup. By finding a networking group near you, you can share information about your business through talks and presentations, hand out your business card to others, and gain referrals.

Create a Referral Scheme.

To ensure that the word about your business continues to travel exponentially, you should consider enacting a referral scheme that can send customers back to your business and allow you to get one or more customers for every single customer that joins the scheme. You can start a referral scheme by offering a discount or free product in exchange for your original customer spreading the word about your business. Then, when a new customer buys an item using the original customer’s details, the original customer will be able to receive the benefit that has been promised to them.

Send Out Newsletters.

However, you do not only want to spread the word about the initial opening of your business. Instead, you want to make sure that customers can follow all your latest developments, including changes to your opening or delivery times, as well as information about the new products that you have on offer. This newsletter can be in a paper or digital format, and it should read remind old customers about your business and encourage them to return shortly. You can entice people to sign up for your newsletter by offering a small discount in exchange for their email or postal address.

Give Promotional Freebies.

To spread the word about the quality of your products and create a constant reminder of your business for potential customers, you should consider giving away promotional freebies in your local town, outside your store, or in a crowded shopping space. This allows people to try out your products, which will pique interest in your brand and the products that you offer, rather than leaving them to spend their money on a brand which they do not recognize. This also increases the likelihood that they will recommend your business online or through word-of-mouth.

Put Your Logo on Everything.

It is not good enough to simply put your logo on your webpage or above your shop door. Instead, you need to ensure that your logo design is placed upon all of your business items, whether that is packaging, your van, your employee’s uniform, or even t-shirts that advertise your company. This will allow your customers to promote your company to others simply by walking around the streets of your local town.

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The Development Of Blockchain: Creating Opportunities For Accountants

Blockchain is an accounting technology. It enables the transfer of ownership of assets and maintains an accurate ledger of financial information. So, accountants need to understand Blockchain technology and keep up-to-date with the latest innovative developments if they want to stay on top of their game and be prepared for the changes and opportunities Blockchain brings.

Read on to find out more about the development of Blockchain and how it is creating opportunities for accountants.

The Role of Accountants Will Change.

Seeing as Blockchain can replace bookkeeping and reconciliation work, you may think flesh-and-blood accountants will soon be out of a job. But the truth is there will be more opportunities for accountants in the future. Only, the role of accountants is changing. However, there will still be a need for professionals like Certified Public Accountants in the accountancy industry. And CPAs will still be the most qualified and respected accountants out there because they have to pass the four sections of the rigorous CPA exam before they can become eligible to work as CPAs.

Learning More About Blockchain.

To discover what Blockchain means for the accounting profession, it is highly advisable you read up on Blockchain technology as much as you can. You could enroll in a Blockchain course, but studying books about Blockchain is a much less expensive option. Reading Blockchain books is a fantastic way to learn the ins and outs of Blockchain. In a relatively short space of time, you will drastically improve your knowledge and skills. The only problem is there are lots of books about Blockchain on the market, so you need to find the best and most accurate ones. To help you get started, check out these top Blockchain books that are most-recommended by Blockchain professionals.

Blockchain’s Positive Impact on the Accounting Industry.

The accounting industry has the ability to change for the better with Blockchain technology. Blockchain has the potential to reduce the costs of maintaining and reconciling ledgers and provide certainty regarding the ownership of historical assets. Also, Blockchain could help accountants to gain clarity about the resources and obligations of organizations. In turn, that enables accountants to concentrate on other essential tasks, like planning, valuation, and recordkeeping. Ultimately, Blockchain could dramatically enhance efficiency.

As well as eliminating reconciliations and providing certainty regarding transaction history, Blockchain enables growth in the scope of the accounting industry, by bringing more elements into consideration that were previously too unreliable or complex to measure, such as the value of a company’s data.

How Blockchain Is Creating Opportunities for Accountants.

Before Blockchain can become an integral part of the financial system, it must be developed, standardized, and optimized more. But it looks like it will be several years before that comes to fruition because although there are lots of Blockchain applications and startups in the field, there are few who have gone beyond the proof of concept or pilot stage.

Moving to a financial system with a significant Blockchain element will provide many opportunities for accountants. Indeed, because accountancy professionals are experts in record keeping, business logic, and the application of complex rules, they have the opportunity to guide and influence how Blockchain is used and embedded in the future. Crafting regulations and standards for Blockchain is no small challenge, but accountants can bring their expertise to the work that is being performed.

Another opportunity for accountants is an advisory capacity, working for companies who are considering joining Blockchain. With a combination of business and financial expertise, accountants can become key advisers to firms that are looking to implement new Blockchain technologies.

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5 Types Of Visual Marketing Content Every Growing Business Needs

by Erin McCoy, director of content marketing and public relations at Killer Visual Strategies

When 96 percent of people have viewed a branded explainer video, it doesn’t matter what industry you’re in — visual content is a crucial way to reach your audiences.

Videos, GIFs, and other visuals from Instagram stories to Snaps are driving the way we communicate on a daily basis. And that means that customers are demanding the same type of visual communication from brands.

What’s more, stock images and icons are no longer enough: they don’t just fail to represent your brand, they can even misrepresent it. And marketers can attest that custom-designed visual content performs better: 40.2% told Venngage that original graphics such as infographics perform best, with just 12.5% attesting that stock images were most effective.

Still, it can be hard to know what types of content to produce, and how each can help you achieve your goals. Let’s take a look at your options.

Motion Graphics & Video.

With more than four-fifths of all internet traffic driven by video, motion graphics and video content are an essential tool for any brand. In fact, 87 percent of people want to see more branded videos.

What video-based medium is right for you? If your industry lends itself naturally to live-action video, go for it! Or opt to overlay animated data visualizations, labels, illustrations, and more to help viewers understand and interpret what they’re seeing.

A fully animated motion graphic is another great option. Animation can bring any story to life, including stories that can’t always be caught on film: how you developed a new type of software, or the ways in which your company is revolutionizing medicine.

Social-Media Micronarratives. 

Motion graphics and videos can be cut up or repurposed into bite-sized GIFs for sharing across social media channels. But they’re not the only type of visual content that’s right for social. Posts with visual content are proven to boost engagement and sharing for brands.

So whether you’re looking to drive traffic to a new ebook or sharing an infographic online, use mini-infographics, data visualizations, standalone illustrations, and other types of social-media micronarratives to drive success for your brand.

Visual eBooks & White Papers.

Gated content is great for building your list of potential customers. But you need to offer them something of quality. Giving them a text-heavy reading assignment will leave most people pretty disappointed — and unlikely to share and recommend that content.

That’s why all ebooks and white papers today should be visually driven. And that doesn’t mean just including data visualizations here and there — though you absolutely should. Visual ebooks and white papers can include everything from custom icons to illustrations and charts.  

Visual Annual & Financial Reports.

More and more organizations are opting to make their annual reports and financial reports just as visual as their ebooks. That’s because, even if you’re only sharing that content internally, your employees are just as attracted to visual-first content as your customers!

Visualizing key data and metrics can help your organization recognize patterns and business opportunities. That’s why, for many companies, making their reports visual is no longer a choice — it’s a must.

Interactive Infographics & Sites.

Interactive sites, widgets, and infographics boast a stunning 70-percent conversion rate. That’s because they incorporate clickable and reactive elements that encourage the user to engage with the content in multiple ways. An interactive graph allows people to see precise numbers; a clickable map helps them delve deeper into the data at the state or local level. They can explore what interests them most and ignore the rest. The result is content that feels personalized to them.

These are just a few types of content that your business can use to drive content marketing success and build brand equity.

 

Erin McCoy is director of content marketing and public relations at Killer Visual Strategies. She holds 2 master’s degrees from the University of Washington: an MFA in creative writing and an MA in Hispanic studies. She has won nearly 2 dozen awards in photojournalism, and has dedicated those skills to boosting Killer’s brand recognition and thought leadership in visual communication.

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