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Tag: 📖 Learning

  • 20 Tips for Providing a Better Live Chat Support to Your Customers

    Customer satisfaction is the key to customer retention and business sustainability. 83% of customers become loyalists when a brand prioritizes and resolves their queries. Yet, a lot of businesses are not able to deliver effective and timely customer service. Why? It is hard to set an SOP, train personnel, and deal with multiple complex customer issues.

    An efficient solution that came up recently was live chat support. Live chat customer service is a real-time customer conversation that addresses their pain points and blockers. It is an online tool that enables customer interaction, recording transcripts, and sharing resources. In a nutshell, it fills all the gaps in the prevailing customer support system.

    Need for a Live Chat Support System
    Benefits of Live Chat Support
    1. Aim for Quick Responses
    2. Benefits of Live Chat Support
    3. Follow Up
    4. Apt Opening
    5. Use Canned Responses
    6. Use Web Analytics
    7. Limited Hours
    8. Stick to a Defined Purpose
    9. Concise Solutions
    10. Transition Through Channels
    11. Consistent Brand Voice
    12. Inclusivity (Multilingual Support)
    13. Automate
    14. Proper Training
    15. Strategic Positioning
    16. Offer Resources
    17. Chat Archive
    18. Provide Detailed Solution
    19. Pre & Post Chat Survey
    20. Limit to Certain Pages

    Need for a Live Chat Support System

    Live chat support can strengthen customer relations which strengthens your business goals. Customer satisfaction is a non-negotiable aspect of a business and lives chat services take businesses a step closer to that. However, there are some problems that businesses face with live chat systems such as:

    1. Lack of personalization,
    2. Lack of trained people,
    3. Missing SOPs, and
    4. Prolonged hours to resolve a complex query.

    Below are some strategies that enable you to leverage live chat support to its full potential. But before that let us have a look at its benefits.

    The above graph shows the customer satisfaction rate with respect to different methods in percentage
    The above graph shows the customer satisfaction rate with respect to different methods in percentage

    Benefits of Live Chat Support

    Live chat service benefits are not confined to customer service. Not only is it crucial for customer service teams, but also the marketing and sales teams can leverage this tool. Here are 5 advantages that live chat support offers that could potentially boost your business growth by 4-8% in the market.

    Insights Into Customer Pain Point

    Real-time conversations with customers not only resolve their problem but also equips you with their pain points. If you receive recurring feedback or query in your inbox, you might need to look for an effective solution that handles it permanently.

    For instance, you might get a lot of DMs regarding the refund policy from your shipment cart page. Then, adding more details in the same regard on the individual product pages would increase customer satisfaction. 80% of customer service teams depend upon insights and customer satisfaction reviews to improve themselves.

    Build Trust and Rapport With Customers

    Live chat support indicates that you prioritize customers and their needs. Every resolved query builds trust with the customers. Especially with live chat service, the conversation seems more genuine and natural. It is comparable to telephonic conversations that connect the agent with the customer and boost credibility.

    Enhanced Conversion and Retention

    Live chat support is timely and has a natural flow of conversation. As a result, customers trust the brand which boosts conversions and customer retention. In fact, 93% of satisfied customers go for repeated purchases from a brand.

    Also, since the live chat service solves customer queries almost instantly, it leads to better conversions and reduces abandonment cart rates. The conversion goes up to 2.8x after an interaction on a live chat session.

    Get Competitive Advantage

    Having a robust live chat support system is a competitive advantage. How? 65% of customers switch to an alternative if the brand does not prioritize customer service. Moreover, 80% of users move to a competitor after one bad customer service experience.

    Live chat service fills in the gaps of the traditional customer support system such as delays in responses and lack of effectiveness. Hence, it can give you an edge over other players in the market.

    Make More Money!

    Customer satisfaction means better conversion, customer retention, and competitive advantage. Eventually, real-time conversations can give incremental growth for business revenue by 15%.

    68% of customers are willing to spend more on brands that offer good customer service. It comes from the fact that customers trust these brands which helps them scale in a way of word-of-mouth and repetitive purchases.

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    Tips for Providing Live Chat Support

    64% of customers prefer a real-time communication mode while shopping. A business that employs it efficiently can improve its NSP (Net promoter score). However, there can be several gaps while deploying this system. So, here are 20 strategies that can bring better results and cover all the loopholes.

    1. Aim for Quick Responses

    90% of customers want a quick response from the brand. But how much quick? 10 secs? 1 min? 5 min? 60% of customers mark quick as 10 min of wait time. Timely responses are crucial for customer support.

    They are the real deal-breaker. With live chat support, accepting a chat request and finally resolving a query takes time, especially if there is a lot of traffic at the chat support. However, the agents should try and juggle a few customers at a time to reduce the waiting time.

    2. Benefits of Live Chat Support

    An agent can not possibly have answers to all the queries. A crucial role in timely reply is transferring the chat to the right department. The right agent would be more prompt with the replies.

    Also, it enhances the relevancy of the solution offered. Hence, all the departments should cooperate to achieve customer satisfaction. After, a good customer service team also needs to collaborate with the marketing, sales, and product team to ensure 100% customer satisfaction.

    3. Follow Up

    Oftentimes, an agent does not have an answer. Even after transferring, the solution is still ambiguous. How to handle such a situation? Firstly, let the customer know that the solution is on the way. It might take some time. Secondly, thank them for being patient, waiting, and sharing the query.

    Lastly, switch to another mode: Email, or messaging to share the resolution when available. In this case, following up is critical with the solution. It shows brand commitment and enhances brand rapport.

    4. Apt Opening

    The ChatBot is a great example to understand the effect of humanly messages
    The ChatBot is a great example to understand the effect of human messages

    Opening the conversation in an apt way influences the end result. A robotic or automated message drives away the customer. Your opening/ greeting should be natural and personalized. But how do you personalize? By tracking the user’s web history. Apart from that, the trigger replies should also be more human-like. Something like:

    “Hey, I saw you checking our enterprise products. Can I guide you in your journey?”

    “Hey, You visited our blog section. Is there some specific topic you wish to know about?”

    5. Use Canned Responses

    An example of a canned response
    An example of a canned response 

    Canned responses are crucial to save time and handle multiple customer chats simultaneously. They are templatized responses that help the agent answer FAQs promptly. However, instead of trigger-based canned responses, offer selective canned responses. In this case, the agent can select the response to send depending upon the customer’s query. It is relevant and quick.

    6. Use Web Analytics

    Web analytics can help you provide a relevant, personalized solution to the customer. It consists of the recent pages that the user visited on the site and helps the agent map the customer journey. As a result, the agent gets a brief history of the customer and enhances the solution offered. The agent can give a better response that fixes the query, removing unnecessary friction.

    7. Limited Hours

    An example to understand that 24/7 service is not always provided freely or one can set limited hours for it
    An example to understand that 24/7 service is not always provided freely or one can set limited hours for it

    Even though, chatbots are great at providing 24/7 customer support; live chats are better as the experience is genuine and human-like. Also, the responses are more effective. 43% of users prefer live chat support for customer services against 32% for telephonic conversation and 23% for emails.

    But, you can not hire agents that work 24/7. Hence, having limited hours for live chat support that are clearly stated on the website, increases the efficiency of live chat support. It might lead to immense traffic at specific hours but your team should prepare accordingly to handle the number of customer queries.

    8. Stick to a Defined Purpose

    The agent should set clear expectations and a specific purpose for each chat conversation. Otherwise, it might lead to prolonged unproductive chats with a customer. You want to save agents time and resolve customer queries. Setting boundaries and understanding customer pain point makes it easier to provide solutions promptly without deviating from the core issue.

    9. Concise Solutions

    An example of a concise solution
    An example of a concise solution

    The solution provided should not be open-ended. You do not want your customer to roam on your website for another hour and then move to a competitor’s website in search of the right solution. You should solve the query with a specific direct response that gives the user clarity.

    The user should know their exact next steps and not be left ambiguous. Also, if the solution is lengthy, break it down into smaller sections that are easy to comprehend and follow.

    10. Transition Through Channels

    An example of how a transition through channels can take place easily
    An example of how a transition through channels can take place easily

    Oftentimes, the agent has to switch between the channels. The right agent knows when exactly the transition happens. Transition at the right time reduces friction, solves purpose, and enhances customer satisfaction.

    For instance, if the agent does not have an answer for the query. They can simply request the user to submit the email or shift to some other channel where they can connect later.

    11. Consistent Brand Voice

    Be it content or customer support, having a consistent brand voice helps establish brand image and enhances brand recognition. It improves relations with the customer by distinguishing the messaging.

    Also, it separates you from your competitors and optimizes your brand impression. For instance, Zomato is always seen as a brand with puns and a comical brand voice. So, sticking to a brand voice can critically impact brand reputation.

    12. Inclusivity (Multilingual Support)

    An example of a multilingual chat support service
    An example of a multilingual chat support service

    Inclusivity is prioritized by many brands in their product line and message. With live chat support, multilingual support is the most significant aspect of being inclusive as a customer support team. Also, understanding customer pain points and their needs is crucial. Moreover, If you are a global brand, it is critical to opt for multilingual service that improves customer relations.

    13. Automate

    As mentioned above, your agents can not work 24/7. Hence, taking helping hands from AI and automating processes can extend customer support hours. Also, AI enables prompt replies, saves money, and gathers more information about the user.

    However, you can not totally rely on these as they would eliminate the human touch. After all, 69% of customers prefer real-time communication over chatbots. It covers up for out-of-office hours of agents and keeps customer service active at all times.

    14. Proper Training

    Agents play an important role in live chat support services. They are the front face and interact with the customers. Hence, giving them proper training to initiate conversation, continue the interaction, solve queries, switch channels, and close the right way gives them an edge.

    Also, having agents with cross-departmental knowledge promotes self-reliance which enhances response time. You could hire personnel to give training or have short training sessions to equip agents with the right knowledge and skill set.

    15. Strategic Positioning

    An Example- The chat icon is located at the corner that is not affected with scrolling of the page
    An Example- The chat icon is located at the corner that is not affected with scrolling of the page

    Placing the icon for a live chat in the right place is also important. You do not want it to bury in some corner where is it not even visible. It should not be on your face that covers the entire webpage.

    Place your live chat icon in the corner of the page which is visible throughout the scrolling window, which means it should not be restricted to the end of the page. Also, the working hours should be clearly stated along the icon or after the chat window pops up.

    16. Offer Resources

    Often the solution is not restricted to a few steps or a small conversation. In such cases, the agent needs to share relevant resources that clear user queries. Also, resources are a great way to end the conversation as the user leaves with additional information.

    Another situation is when your agents face a recurring query. In such cases, you can create a dedicated resource that addresses customer pain points which can be shared as and when needed.

    17. Chat Archive

    Live chat support comes with an option to save the transcript and record it all into your CRM. But how does it even help? It helps in recording customer query history and helps to follow up for future conversations. Also, you can share a chat transcript with the customer if the solution was more broad and intricate. It acts as a resource itself.

    18. Provide Detailed Solution

    Even though it is recommended to keep conversations in a live chat concise, the agents should aim to provide a detailed solution. They should not miss any aspect which might increase friction. You should provide a comprehensive solution either in smaller chunks or via a shared resource that gives the customer clarity and satisfaction.

    19. Pre & Post Chat Survey

    An example of a pre and post survey form
    An example of a pre and post survey form 

    Pre and post-chat surveys save agents time and help in measuring NPS. The pre-chat survey includes basic details about the customer and their problem. This helps in finding the right agent beforehand and reduces friction to switch between different personnel. The post-chat survey is more of a feedback form that enables you to analyze gaps and improve customer support service.

    20. Limit to Certain Pages

    It is advisable to place the live chat button on specific high-traffic pages to save time and effort. This directs the effort in the right direction to offer maximum value. Live chat support is a high-value customer support system that should be leveraged appropriately.

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    Conclusion

    73% of customers are satisfied after a live chat support session as compared to 61% for emails and 44% for phones. Live chat is appreciated and chosen by the customer. The companies need to embrace the technology and use it efficiently to bridge the gap between customer satisfaction.

    These were 20 tips that increase the efficiency of your live chat support system. There are only four key aspects of successful live chat support: relevance, empathy, conciseness, and personalization. If you achieve these four goals, you will probably ace the customer service tool: live chat.

    FAQs

    Why is live chat important for customer service?

    Live chat is essential for customer service as it helps in many aspects that can build the trust and relation between the customers and the firm. It creates a good rapport between customers and the firm and provides immediate solutions to customers’ queries and many other similar things.

    Does live chat increase conversion?

    Yes, customers can easily get an immediate reply to their query. This immediate response can create a good impression on them and can get more chance of increased conversion.

    What is customer support live chat?

    Customer support live chat is the facility given by different firms to their customers to have immediate access to the answers to their queries by the means of the official website.

  • Shopify Pages and Why They Are Important for Your Store?

    You may have seen a YouTube video about creating a Shopify online business. Or perhaps your homie keeps bringing up Shopify, and you’re too ashamed to inquire. Fortunately for you, we will explain what Shopify is, what it offers, the benefits and drawbacks of utilizing it, and much more. So let’s get started.

    You may create your store on the Shopify e-commerce platform both online and offline. Bloggers use WordPress. Shopify is used by shop owners. You can use Shopify POS to sell in person or online using your own website. This e-commerce website builder provides features for both novices and e-commerce professionals.

    What is Shopify?‌
    Shopify – About us Page
    Shopify – Homepage
    Shopify- Happy Customers Page
    Shopify – FAQ Page
    Shopify – Contact us Page
    Shopify – Policies Page
    Shopify – Collection Page
    Shopify – Product Pages
    Shopify – Blog Pages
    Other Shopify Pages
    Shopify – Homepage
    Why Use Shopify Pages?

    What is Shopify?‌

    Basically, Shopify itself is an e-commerce platform that also allows others to create and run their stores on it. It provides you with the foundation to run an e-commerce business. As you venture into the online selling space, you’re expected to open a storefront, showcase products, engage with customers, accept payments, and more. Shopify offers all the tools you need to manage each of those activities.

    People prefer to buy from well-known brands. A professional-looking Shopify website is among the simplest means of earning their trust. Your brand must be outfitted with a few core components. Aside from the main page & the merchandise page, each e-commerce site should have the mentioned pages. So let’s go through them one by one.

    Shopify – About us Page

    An Example- The above image shows the about us page of a Shopify store named Haus
    An Example- The above image shows the about us page of a Shopify store named Haus

    This page is crucial because when a customer walks into your shop but isn’t ready to purchase, they’ll visit this page to discover more about your company. It’s much about the firm, also known as our story. This page typically contains additional company information, who you are, your label, and the offerings.

    You’ll need a better overview of your company, including who you are & why you’ve established it. The more personalized you’re about us section is, the better. It would be fantastic if you could entail a pic or greet clip.

    The drawback is that cliched themes are often used, which are uninterested in the about page. You, however, are. You might like to add several fun effects and more elements to upsell, but Shopify does not provide these features right away. You must focus on specific themes which have the necessary personalization in place to modify if and when required.

    Shopify – Homepage

    An Example- Haus is a Shopify store with its homepage on view in above image
    An Example- Haus is a Shopify store with its homepage on view in above image

    It is the center of attraction for each and every customer. Irrespective of the customer’s mentality, the most essential page that has the highest probability of attracting a customer’s attention is the Homepage. This page can contain a door to all other pages and links. Shopify homepage is also the first page any customer will be introduced to.

    By knowing its importance, Shopify has provided a number of themes and customization options for Shopify users to get their desired results. The homepage allows the user to get the basic idea of products available in their ranges. It can also give other information like ongoing sales, links for other essential pages that customers can visit as a second step, etc.

    The above graph shows the different information that is required on the homepage as per the visitors in percentage
    The above graph shows the different information that is required on the homepage as per the visitors in percentage

    Shopify- Happy Customers Page

    It all comes down to social evidence. It’s a good way of making one feel safe about purchasing from you when they see some folks purchasing from you are pleased and sharing images of themselves.

    A satisfied customer is the best business strategy.
    A satisfied customer is the best business strategy.

    Shopify – FAQ Page

    An Example- The above-shown image is the FAQ page from Shopify store The Candi Factory
    An Example- The above-shown image is the FAQ page from Shopify store The Candi Factory

    Many folks will have concerns about shipments and refunds, so you can include all that in this segment then they can get answers without having to message support. It reduces the workload from responding to multiple emails regarding the same topic, but it is optional.

    Ensure it’s presented simply for visitors and that you can keep all the queries in bold text and all the solutions exactly as they are. If you’ve distinct queries, group them under a header so that it appears to be split into parts.

    Shopify – Contact us Page

    An Example- The above-image is from the contact us page of a Shopify store named The Candy Factory
    An Example- The above-image is from the contact us page of a Shopify store named The Candy Factory

    This page contains contact details such as phone numbers, email addresses, location data, social media URLs, and more. If they have concerns, they wish to learn whom to ask and where they can get answers. The more contact details you could give, the better. It’s basic, and every E-commerce website can include a simple inquiry form on that page alongside all other details.

    Shopify – Policies Page

    More shops should have a user agreement page and a privacy policy. These two are extremely crucial, particularly if you run ads. This page is critical if you’re running Facebook or Google ads. If Fb discovers that you don’t use one of these, they may forbid you to run ads. They’re required to run any Shopify store.

    Writing them will be more difficult because the verbiage will be slightly different. However, Shopify makes it extremely simple. It primarily has layouts created for policy sections, so you don’t get to do much legwork; read through the policy and make modifications that seem vital for your biz.

    Shopify – Collection Page

    An Example- The above image shows the collection page of a Shopify store named ZeroGravity
    An Example- The above image shows the collection page of a Shopify store named ZeroGravity

    This page one will give a clear insight to the customers about what products are available in the store. The main focus of this page is on visualizing different categories of the products as per each store. This page has to be added to provide easy access to customers for different category products.

    Apart from the category, this page also has to include different options mainly filtering options and a guide to other pages. This page can be customized as per the user’s preference, but with only one aim of providing a clear look at the page. This can avoid confusing the visitors and can also increase the chance of purchasing a product.

    Shopify – Product Pages

    The name itself shows the work of the page. But in reality, the actual work of the page is to showcase a product but in a different way. Product pages can help the customers to know about a single product in detail but can also help them with other information like similar products or products falling under the same category but within different price ranges.

    All these can be easily showcased by adding the Shopify product pages in the Shopify store. One can also consider adding these pages in order to simplify the store. As visiting a product page is like a third step after selecting the category to shop from.

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    Shopify – Blog Pages

    An Example- The above image shows the blog page of a Shopify store Bucket Bike
    An Example- The above image shows the blog page of a Shopify store Bucket Bike

    The basic need for adding blog pages in your Shopify store is to increase organic traffic. Each store needs to be marketed in order to gain much popularity and sales. For the same reason adding a blog page can be a great idea.

    Shopify allows easy organization and management of Shopify blog pages. Shopify also allows a number of tools and options for the better management of the page. With all these services, adding a Shopify Blog page is a must for every store if they plan to attract customers by content marketing.

    Other Shopify Pages

    An Example- The above image shows an additional page of the payment plan from a Shopify store Bucket Bike
    An Example- The above image shows an additional page of the payment plan from a Shopify store Bucket Bike

    Multiple pages are essential to incorporate based on what you offer and your sector. You can also consider the following pages while you create your Shopify website.

    Members

    If you’ve more than one member working around the clock, creating a section with a picture of every staff, and their designation and impact on the company, can be a brilliant platform to thank your diligent staff and instill trust in your company. While I don’t advise “inventing” employees, there’s hardly anything inappropriate with highlighting anybody who contributes to the success of your business.

    Functionality

    If your marketing strategy includes any distinctive features, including a membership, it is an excellent spot to clarify your procedure. Other shops use this section to learn how their goods perform, mainly if they are distinctive or intricate. While this data is included on retail sites, creating a dedicated team can be very beneficial in terms of trust-building.

    Shipment

    If you’re trading tangible goods online, several folks will wish to learn how and when their orders will be supplied, so having a section that explains it can be useful.

    Special offers

    A consumer browsing for your brand with the words “special offers” or “vouchers” on a web browser is frequently a final hindrance to the payment page. As described here, some shops post links that cater to these lookups.

    Returns

    This column should likely be with the “should include” list, but because not all Ecommerce retailers are selling returnable goods, I include it here. Utilize it to clarify your return policy, and even when you don’t take back returns. You should also better articulate this policy.

    Why Use Shopify Pages?

    The process of adding pages on the Shopify store: Store setting-Online Store-Pages-Add Page
    The process of adding pages on the Shopify store: Store setting-Online Store-Pages-Add Page

    As previously stated, these sections create a favorable impression of your shop in the hearts of targeted consumers. Your shop can exude a proficient feel when high-quality illustrations are blended with perfect textual material, which, when blended with other aspects of your page, can greatly affect a transformation. It may also raise the effectiveness and notoriety of your webpage, which is generated by search engines.

    The real impact of performance and notoriety rating that are frequently ascertained by individuals assessing sites and deciding if they’ve well-thought-out material is debatable, as with several aspects of SEO. Given the resources needed to deliver creative substance, it’s easy to see how possessing high-quality sections on your page can become extremely relevant.

    Although if SEO experts don’t use the efficiency of these sections at all, it’s important to note the other perks, like gaining buyer trust. This means that possessing these sections won’t impact you either, as they offer useful, well-written material.

    Creating these types of intriguing sections inspires visitors to focus on them, and it’s a wonderful way of signaling to SERPs that your site has high-quality, pertinent goods and material.

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    Conclusion

    As a virtual merchant, you must provide your clients with a personalized experience to which they can connect to persuade them to purchase from you. You can customize every aspect of your store with these Pages to focus on making it more user-friendly & consistent with your label. Create these pages in a way you wish to portray your brand to the potential and current customers. I hope this article was insightful to you.

    FAQs

    What are the pages in Shopify?

    In simple words, Shopify pages are the ones that will showcase the Shopify store details on the web page and through which a customer can interact with the store. They are web pages that give out information about the store and also allow the customers to visit the store in detail.

    What pages do you need on a Shopify store?

    The exact need for the Shopify store pages can differ for each individual. However, adding these five pages can complete the basic pattern of a store. They are the homepage, privacy policy page, product page, about us page, contact us page, and marketing page.

    Can we customize pages in Shopify?

    Yes, pages can be easily customized in Shopify.

  • Top 7 Things to Remember While Dealing With International Clients

    A customer is an individual or a business that purchases products or services from another business. Customers drive the revenues of any business. A business cannot continue to exist without its customers.

    Businesses compete with each other, advertise aggressively, and offer discounts and various other schemes, all in a bid to attract more and more customers. Businesses also design unique products or services that they think their customers would love. Apple, Tesla, Tiktok, and Google are some great examples of business houses offering unique products that have a customer fan base across the globe.

    People at the helm of some renowned businesses understand the importance and value of each and every customer. They invest hugely towards customer service and pay attention to every criticism they receive in a bid to improve their product or service. Jeff Bezos once said, “We are customer obsessed.  We start with what the customer needs and work backwards”

    While every client is important, dealing with an international client has a secondary list of concerns, etiquettes and manners attached. In this article, we will go through some of the most important things you must remember while dealing with international clients.

    Things to Remember While Dealing With International Clients

    Pros and Cons of Working With International Clients

    How to communicate with clients?

    Things to Remember While Dealing With International Clients

    People are a product of their environment, culture, traditions and of course, influenced by their geographical location. When businesses are dealing with clients who are based in different countries, it is advantageous to keep certain aspects in mind. The following are some of the most important things you must remember while dealing with an international client or customer:

    Most Used Online Communication Services Worldwide 2021
    Most Used Online Communication Services Worldwide 2021

    Time Zone Differences

    Time plays a pivotal role when dealing with international clients. It is not only the time difference but even the difference in working days and holidays. It is always beneficial to ask the client about their convenient time and availability beforehand. This will help you avoid any last-minute discomfort and set the right tone for the meeting.

    Respect to Differences in Language and Culture

    People are different. The difference could be language, culture, traditions, beliefs and others. In a business relationship, it is important to show mutual respect to each other, steering clear of any judgements and assumptions. It is advantageous to read and understand these differences before dealing with an international client. If in doubt, ask the client for clarification to avoid any blunders.

    Adapt Your Marketing Material

    When targeting a new audience from a different culture, it is important to localise different elements of your marketing material to make it attractive to that audience. Languages are important in business and updating your slogans, mission statements, USPs, website, etc., to target international clients is just smart business.

    Understand the Currency Values

    One of the most important things to remember while dealing with international clients is to understand the difference in currency values. Since you are dealing with a citizen of another country, you will get paid in another currency. So, it is extremely important to understand the exchange rates between different currencies in order to avoid any sort of conflict in future.

    International business comes with its own set of rules and regulations that are quite stringent. Every country has its own laws that businesses need to comply with. Detailed and thorough research about these rules and procedures of the client’s country is a must. It is important to take permissions and verify licenses that are required to transact business between the countries. So, it is essential to make sure that the contract between you and your international client is in accordance with both of your country’s laws.

    Perform a Background Check

    This goes without saying. When dealing with an international client, it is important to verify their legitimacy. Perform background checks on the client and their business operations to verify that everything is above-board and legitimate. Doing this can save you from a lot of trouble.

    Market Share of Most Used E-mail Clients in 2021
    Market Share of Most Used E-mail Clients in 2021

    Make Written Contracts

    Last but not least thing to remember to always make written and legalized contracts while dealing with international clients. It is better to agree on payment methods, the different currencies used for payment, taxes, shipments, time, etc., during the early stages. Since you won’t be having any in-person meetings, it is essential to make legal and signed contracts beforehand to save any trouble in the future.

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    Pros and Cons of Working With International Clients

    The internet has opened up global markets that were once inaccessible or at least, difficult to reach. Working with international clients is more common than ever before. The accessibility, ease of reach, and quickness of conducting business have made more and more business owners embrace the global economy and international expansions.

    However, each coin has two sides. So, dealing with international clients comes with its own advantages and disadvantages. Awareness of both sides is wise and beneficial to making business decisions. The following are the pros and cons of dealing with international clients or customers:

    Pros

    • Getting Paid has become easier: Getting payments have become easier than before thanks to various online Cross-border payments platforms have gotten easier. Online payments are quick and hassle-free. They are also available in multiple languages and allow transactions in multiple currencies as well.
    • Ease of communication and collaboration: Thanks to technological advances communication and collaboration are now possible in real-time and face-to-face. This increases efficiency and boosts real-time collaboration with clients, team members and contractors.
    • Strengthening and broadening of personal skills: Working with international clients adds to personal skill sets, widens knowledge base and broadens perspective. It also expands personal horizons and promotes friendships in different countries.
    • Business Expansion: The scope of expanding business is multi-fold as the efforts are concentrated on selling the product or service.  
    • Higher Returns: The cost of your product or services may be higher in other countries. This could be because of a higher living standard in those countries. This discrepancy could be a unique opportunity, especially, if you are living in a country that has a weaker currency than your target market. In this way, dealing with international clients can open the gates to earning higher returns.

    Cons

    • Lack of personal meetings: This is especially true in the current era. While face-to-face meetings are possible via the internet, it is almost impossible to physically meet very often. Trust is built faster with physical meetings than the meetings held via Skype, Zoom, or any other online app.
    • Different Time Zones: Time Zones can be a massive issue. Whatever you do, one person will always be in an inconvenient time zone. It is almost an art to juggle the time zone difference effectively.
    • Dealing with non-paying clients: Clients who are across the border and not making timely payments are especially difficult to deal with. It can be time-consuming and emotionally draining. Also, in some cases, there is no real guarantee that the payment will ever be made.

    Conclusion

    The boundaries that once limited our access to working with international clients have vanished. Technological advances have made international business easy and lucrative. However, the benefits are not without their drawbacks.

    While taking advantage of all the opportunities that are offered to work with international clients, it is mandatory to stay vigilant and be cognisant of the risks and take decisions that are beneficial to both sides.

    FAQs

    How do you deal with international customers?

    You need to keep the following things in mind while dealing with international customers:

    • Adapt Your Marketing Material to suit international clients
    • Understand the currency difference
    • Respect time zones
    • Understand the difference between language and culture
    • Perform a background check on the clients
    • Make written contracts

    How do businesses approach foreign clients?

    The following are some of the ways in which businesses can approach foreign clients:

    • Look for clients on LinkedIn
    • Look for clients on Twitter
    • Take part in international webinars
    • Be active on Quora

    What are the barriers to international marketing?

    Social and cultural differences are the most prominent barriers to international marketing. Different countries have different culture and levels of adaptability to new products and services which can be a huge barrier in international marketing.

  • Role of Emotional Intelligence in Entrepreneurship

    What’s Emotional Intelligence? Described as a concept that involves the ability, capacity, skill, or self-perceived ability, to identify, assess, and manage the emotions of one’s self, others, and groups.

    Emotions affect our behavior and also hold the power to influence the way we think. Referred to as Emotional Quotient (EQ) and Emotional Intelligence Quotient (EIQ). Emotional intelligence can be described as one being aware of the emotions of one’s self and that of others and using them to guide behavior.

    Emotional Intelligence

    Why is Emotional Intelligence More Important Than Intelligence?

    Importance of Emotional Intelligence in Entrepreneurship

    Improve Your Emotional Intelligence

    Emotional Intelligence

    There are two sides to Emotional Intelligence, including being able to recognize emotions in ourselves and responding to them. And being aware of the emotions of others, using it as a guide to managing behavior.

    There are two sides to emotional intelligence, including being able to recognize emotions in ourselves and responding to them. And being aware of the emotions of others, using it as a guide to manage behavior.

    Focusing on the following abilities:

    • To assess how others feel
    • Be conscious of how others feel
    • Connecting with others
    • Identifying emotions
    • Controlling one’s own emotions
    • Using emotions to aid social communication

    The four main elements of Emotional Intelligence include:

    Self Awareness

    Self-awareness refers to the ability to recognize one’s emotions correctly and be aware of your thoughts and handle your feelings. Keeping track of your emotions and being conscious of how they affect others as well.

    Self Management

    Most of the time you cannot control what’s happening around you in your surroundings but you definitely can control how you respond to it. Self-management is precisely the same; it includes managing stress, motivating oneself, controlling one’s impulses, and regulating your thoughts and emotions in various situations.

    Social Awareness

    Social Awareness includes considering things from another point of view. Understanding different perspectives and standpoints of others. Social awareness plays a great role in society helping one be an empath, collaborate and share information with others. Lastly, it makes the process of communication easy.

    Relationship Management

    As the name implies, Relationship Management in context with emotional intelligence includes enhancing your listening and speaking skills, conveying your emotions in a non-defensive way, the ability to deliver and accept feedback, resolving conflicts, and being respectful and appreciative of others. Leaving others with a positive impact.

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    Why is Emotional Intelligence More Important Than Intelligence?

    Having a high level of Intelligence Quotient (IQ) is not the only essential aspect of guiding a leader. EQ is equally critical to having balanced leadership. Studies have shown that emotional intelligence might be even more essential than cognitive intelligence. Asking how you feel could be a key question in understanding and being self-aware. How? We will explain that further.

    In relation to Entrepreneurship, There’s so much buzz these days with emerging startups, entrepreneurs, and breakthrough products in the market. But what is the meaning of entrepreneurship, anyway?

    Entrepreneurship can be described as the ability to build up a business with a new business model or improve an existing one with the aim of building profit or making a social impact.

    Being an entrepreneur is cool. But it comes with its own set of challenges. Being one requires you to be more than an innovator, risk-taker, or just a leader. Sure, these do fall into the categories of three qualities that are required for being an entrepreneur, along with the ones listed below:

    • Managing people
    • Having an open and easy-going attitude
    • Following their passion and being highly motivated
    • Having a spark of creativity
    • Being well-rounded and having a passion for the work they do
    • Curious to learn

    Let’s take a look at the challenges faced by an entrepreneur:

    • Hiring the right people and staff
    • Managing time and budget
    • Making the right decisions
    • Building connections and collaborating with other organizations

    But being an entrepreneur is more than that. It also requires emotional intelligence. Emotional intelligence is so valuable these days that companies consider choosing one’s employees based not only on their IQ but also on their EQ test. An article from Forbes has also stated that empathy is the most important leadership skill.

    Importance of Emotional Intelligence in Entrepreneurship

    Wise Decision-Making

    While decision-making, rational thinking is critical. Making the right decisions for anything has a huge impact on your business. Be it investing in something or making changes to the packaging of your product. Keeping your emotions in check, and self-regulating your emotions from time to time will help keep the bar of making irrational and impulsive results low. You act wisely rather than make careless decisions under the influence of your emotions.

    Create and Improve Relationships With Empathy

    Empathy is the ability to put yourself in another person’s position and see and feel from their point of view. Empathy makes a person better listener, and creates better connections and relationships with others. You practice sharing how you feel and based on being aware of others’ emotions you also understand the power dynamics that influence the social dynamics in different situations. You learn to respect other people’s experiences and respond appropriately.

    Empathy helps people to be seen and acknowledges their presence. This helps your employees to develop and also gain their loyalty and respect. Increased empathy levels also mean better health and quality of life with reduced stress. Other important soft skills such as interpersonal awareness, self-esteem, resiliency, stress management, and motivation all fall under emotional intelligence.

    Diffuse Conflicts

    Arguments may occur when differences in opinions may arise, things might take a quick turn when things turn heated and neither is ready to understand the importance of being aware of the other person’s feelings. Turning it into a conflict that makes the surroundings stressful. One learns to be able to handle distressing emotions effectively by adapting to situations and practicing flexibility. Handling communication tactically and effectively managing conflict helps maintain harmony.

    Effective Communication

    Communication is important in any relationship. It involves the encoding and decoding of the message. Communicating does not only involve the message, but also the way you say it and decode it. Technology has made the process of communication so much easier now. It only takes seconds for you to deliver your message to the other person exactly the way that you want it.

    Proper and effective communication is a very important part of Entrepreneurship. In a business setting, it can make or break a deal. Communicating consists of both verbal and non-verbal communication. A higher level of EQ makes you good at reading the body language of a person, making you better at non-verbal communication and working in group environments better.

    By gaining a sense of self-control, you can communicate clearly rather than letting your message be clouded by your emotions and respond to a situation in a calm, measured, and reflective manner. You can control your reactions. You are confident and communicate your thoughts with clarity and with effect while communicating. Not only that, but you allow yourself to communicate better, you tune into other people and notice them. EI strengthens your communication skills.

    Your employees are the most valuable assets to your company. So, you have to be careful with how you connect with people and understand them. With a higher EQ, you can build stronger relationships at work, and create environments that are best for your employees. Making them feel valued and appreciated.  When you are critically aware of their emotions, you can better manage them, Change the magnitude of the efficiency of your employees’ performance, predict their job performance as well as retain them.

    Establishing a Clear Vision

    Leadership requires you to have a clear vision and be able to communicate it continuously and creatively. It’s important to look at how your employees feel about certain goals and challenges in your team. It helps you read and manage the energy in the room and better understand how to channel it.

    With Emotional resilience learn to bounce back at the challenges, crises, failures, setbacks, or difficult situations thrown at them which happens more than often in the business environment. Entrepreneurs adapt to them in a positive manner. With higher emotional intelligence comes confidence, positivity, and stability for a leader to bring the organizational vision into the light and turn it into reality.

    Inspire, Motivate and Tackle Self-Doubts

    EQ teaches you how to bounce back, which leads to a better flow of emotions between your rational and emotional brain. Allowing the rational brain to understand the emotions better. Rather than acting impulsively and preventing you from drowning in them. It transforms poor experiences into great ones rather than just assuming the worst-case scenario. You become more introspective.

    Practicing emotional intelligence makes one aware of one’s own strengths and weaknesses, which is beneficial to tackling self-doubts that come your way. You are intrinsically motivated and driven by passion which makes you action-oriented, and committed to what you do and enables you to take initiative. Emotional intelligence is important for one to be able to achieve new goals and better ways of learning to do things.

    Improves Social Skills

    Social skills are a huge part of being an entrepreneur. Collaborating with other people or organizations with whom your goals align requires social skills. Being able to persuade others and coordinate and cooperate with others to collaborate with other organizations working towards similar goals. Guessing social cues, taking initiative, and negotiating are some significant skills that are required for you as an entrepreneur to thrive.

    Team building

    With a high level of EQ, you become proactive and take the initiative to manage those around you, becoming well aware of their emotions. People want to feel valued and appreciated. As an entrepreneur with high emotional intelligence. You not only perform better but also build a cohesive team that enables problem-solving, and creates a positive environment with empathy. And direct the team towards working on the main objective of the group.

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    Improve Your Emotional Intelligence

    Talk About How You Really Feel

    Make it a practice to connect with your emotions. Being vulnerable takes courage. Talking about your emotions and being self-aware will help you so much rather than just blocking them and not acknowledging your emotions. Talk about your emotions with someone you trust. Remember, there is no just thing as good or bad emotions. Let your mind process what you are feeling. Align your head with your heart. Accepting and acknowledging your emotions can be the first step in practicing emotional intelligence.

    Connect Emotionally With Others

    When someone is talking, actively listen to them. Be present and observe their body language and gestures and read the non-verbal cues. A professional surrounding does not mean there shouldn’t be an informal conversation, if so, create the space for non-professional dialogue to flow. Conversations around non-professional matters will help you connect and understand the other person better. Respect the emotions of others, offer new perspectives to them, and give them where necessary. Not everyone can understand emotions naturally but emotional intelligence can be practiced and put to use.

    Use Your Team’s Feedback

    Let your colleagues all chime in when you understand what they are saying. You can better understand the problems existing in your organization and find a way to change them, which in turn makes room for everyone to grow. Conducting feedback sessions can be a great tool for group improvement.

    Other tips to improve emotional intelligence include:

    • Use gratitude practice
    • Tune into your emotions. Monitor and track your own emotions and see how they affect others. You can maintain a journal to help understand how you feel.
    • See how you as a leader are affecting the people that need you to guide and direct them
    • You can make space for emotional intelligence to grow by surrounding yourself with people who have a positive outlook on life and are willing to support you
    • Try listening to the problems of the people, give regard to their feelings and try to look at what’s causing them
    • Practice empathy by accepting and being respectful toward the feelings of others
    • Create a positive atmosphere in your office spaces where everyone’s opinions are welcomed. Which will help the members be proactive and innovative.

    Conclusion

    Success is not just based on measuring one’s IQ, it also involves the essential elements of one’s behavior and character. Emotional intelligence has the power to encourage entrepreneurs to do better and redefine what entrepreneurship means. These practices are sure difficult to put into practice but can be induced in our day-to-day activities in an organization.

    Reviewing the outcome of practicing emotional intelligence, one will realize that we can create entrepreneurs that are better leaders, working in fast-paced environments that can effectively manage their teams as they have their teammates have their emotions in check with what they do. They learn to manage conflict, change and create space for collaboration and connection. Remember emotions hold the power to move.

    FAQs

    What do IQ, EQ, and EIQ stand for?

    IQ stands for Intelligence Quotient; EQ stands for Emotional Quotient and EIQ stands for Emotional Intelligence Quotient.

    What is Emotional Intelligence?

    Emotional Intelligence can be described as one being aware of the emotions of one’s self and that of others and using them to guide behavior.

    What is Entrepreneurship?

    Entrepreneurship can be described as the ability to build up a business with a new business model or improve an existing one with the aim of building profit or making a social impact.

  • How to Generate an Invoice – A Guide for Small Businesses

    Generating an invoice doesn’t seem like an exciting idea for branding, possessing a well-designed, professional one can stand out in the eyes of your clients and help businesses get compensated on time.

    Clients want to be sure everything works with a reliable organization before sending any money. As a result, your invoices must be completely accurate, have a recognizable logo, and clearly outline a selection of excellent travel services.

    Regardless of whether you operate for yourself or a company, billing is a crucial component of any organization. You must understand and be able to use invoices if you would like to be paid. So, let’s start with the basics.

    What is an Invoice?
    What Makes Them Significant?
    How Does One Get Their Invoice Made?
    Methods of Delivering an Invoice to the Client
    Things to Give More Considerations Related to Invoices
    Are Invoices Enforceable in Court?

    What is an Invoice?

    An example- The typical invoice should be something like this.
    An example- The typical invoice should be something like this.

    Two entities purchaser and a seller—are involved in a typical business deal. The vendor wants to be paid for the products or services they have provided to the customer.

    This is a business deal. So, this is the main idea. The seller is therefore owed money by the purchaser, and how much precisely? And for what exactly are they making the payment? Or how much time will they have to spend? The vendor gives the buyer an invoice containing all of this data to address all of their inquiries.

    The purchaser is aware of their obligations, has a checklist of all the products and services they are spending for, and is aware of the conditions of the deal. They’re satisfied. As a result, the provider receives the payment, and the deal is done.

    The terms “bill” and “invoice” are synonymous. They’ve to do with the paperwork that the vendor sends to the customer to demand compensation for the goods and services that were rendered.

    The above graph shows the difference between the invoice processing cost by automating the invoice generation process.
    The above graph shows the difference between the invoice processing cost by automating the invoice generation process.

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    What Makes Them Significant?

    Sellers desire payment. Therefore, it is crucial to them that bills are issued as quickly as possible to prevent having to wait for the money. Bills are also crucial to the government. On purchases of taxable supplies, the majority of countries impose some kind of sales tax. Goods and Service Tax (GST), state or local taxes, etc.

    Some of these may be familiar to you. A sales tax split-out and identification are both included on an invoice, which is a document of the transaction. For deals with licensed enterprises, they are thus actually mandated by law.

    They’re significant from an accounting standpoint since they are what started the account balances in the accounts of both the purchaser and the vendor. Additionally, they are utilized to monitor accounts payable and receivable.

    How Does One Get Their Invoice Made?

    A cloud-based accounting tool providing platform QuickBooks
    A cloud-based accounting tool providing platform QuickBooks

    There are numerous approaches to creating invoices. You can create an invoice easily using the built-in layout in Google Sheets, but use cloud-based accounting tools like QuickBooks online or FreshBooks if the company would like to be more structured and be able to monitor transactions and generate reports.

    You must at least incorporate the following to make a decent invoice:

    Documents Title

    The document’s title is an invoice. Giving a title to your document is the most important thing as this would help you locate it as and when needed. It also gives the client a brief idea of what the data provided represents.

    Company Details

    The name of your company and your contact details. Contact details such as email, phone number, and much more so that your client can contact easily in case any problem arises.

    Invoice Specifications

    The date and distinct invoice number. Putting a date and invoice number on your invoice makes things easy for you as well as your client. It makes that particular invoice unique from other invoices.  

    Product Specifications

    Information on the goods or services offered and the amount due on them. A description of the products or services being offered to the clients in the form of a table helps your company keep a track of the stock and proof that goods were supplied to the client. It would help avoid queries raised by customers. Folks hate to call up again and again for queries and this puts your brand in a bad position by displaying poor customer service.  

    Clients Details

    The client’s name and contact details. Your client or company’s name, their address, and much more. If you have any concerns regarding the delivery of your product or the payment to be received from the client or want to get customer feedback having the contact details of the client makes your job much easier.  

    Discount or Coupons Specification

    Quoting a fair price on the goods or services provided is a hectic task for companies. You don’t want your company to be in a situation wherein you charge way more or way less than the actual value of your product or service. This might create a bad impression on your part and future sales could get affected by this significant element. Mention any coupons or discounts available at that time. This would be one of the factors in retaining your customers.  

    Amount Clarification

    The complete subtotal. The total amount to be paid is covered here. This should be in words as well. If you do any errors by writing your amount in numbers then you’ll have something to back you up and also people usually confirm both. Don’t forget to add currency because if you are working with international clients this could be a huge problem.

    Bank Details

    Add Bank details. Ask your client beforehand about the payment options as this would help you process the payment easily. You could mention your UPI ID for payments in India and if you’ve international clients then you can put your PayPal details there.

    Duration Limit

    A timeframe, if applicable. You need to add a deadline or a due date which states the date at which the payment should be processed.

    Methods of Delivering an Invoice to the Client

    You have a few alternatives for how to deliver your invoice to the clients. The invoice can be sent by postal mail or digitally via email or a site.

    You can send an online invoice by mail or straight from your bookkeeping or billing system. Due to the ability to send invoices to customers directly, this is a favored selling approach for many organizations. Online payments are frequently made for electronically sent bills. Email is a less typical method of payment.

    Keep in mind how long it takes for your bill to reach when sent via postal mail. In general, this option is more time-consuming than the other one. To satisfy the requirements of the targeted audiences, many firms continue to mail bills.

    There are many things that require special attention to minute details in the generation of the invoice. Invoices are not just a crucial part of each business but sometimes they do form an integral part of the legal procedures. some of the most common doubts related to Invoices are shared below.

    When should you send out invoices?

    According to the terms of the contractual relationship, invoices are typically sent out after the order fulfillment, but this is not always the case. In each case, though, the accounting treatment is varied.

    Are sales receipts and invoices interchangeable terms?

    No, in a nutshell. Nevertheless, there are some parallels, which make this perplexing. Both act as transactional proof. Both are created by the vendor and sent to the client. The essential distinction is that invoices are a call for money, hence it is given before the payment is done, but receipts are given after.

    Are a supplier or purchase invoice and a sales invoice interchangeable?

    In reality, they are interchangeable. Both are invoices. Depending on your viewpoint, they could have different names. You might refer to it as a sales invoice if you’re the seller. Also known as a vendor or purchaser invoice if you’re the purchaser.

    Are Invoices Enforceable in Court?

    They are not, generally speaking. An invoice alone has no legal significance. What might prevent you from sending bills to anybody you want and earning all the income if they were?

    The terms must be agreed upon by both the contracting parties for them to be enforceable. It is crucial that both parties have documentation of the deal, preferably in the form of a signed document but at the very least an email. You wouldn’t want to be the one who finds themselves in a scenario where the prospective customer won’t pay. That isn’t very pleasant, after all.

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    Conclusion

    Remembering to send invoices is, by far, the most crucial aspect of doing so. Although it may seem absurd, individuals frequently forget. Choose a convenient time each week to handle your billing. That could be the closing of the day or the weekend.

    Allocate that period, and then carry on. If creating an invoice is quick and easy, you won’t be as inclined to set it off. Use a smartphone app to create invoices while on the go. I hope you found this article an interesting read.

    FAQs

    Is there an invoice template in the word?

    Yes, there are multiple invoice templates made available in the word that one can take help from.

    Can we hand write the invoice?

    Invoices can be handwritten also, but it is not the best option to select from. Handwritten invoices carry a lot of risks with them.

    What is an Invoice?

    An invoice is basically a document that proves the exchange between a buyer and seller along with basic details such as time, date, items, etc.

    What are the types of invoices?

    There are many types of invoices available in the business, some of them are standard invoices, credit invoices, commercial invoices, mixed invoices, timesheet invoices, etc.

  • MNC vs Startup: The Best Option for a Fresher

    It’s not difficult to describe the differences between working for an MNC and a startup. Comparable to differentiating formal wear from casual clothes or distinguishing between formal meetings and lively, participatory group discussions.

    Freshers are people without corporate experience or experience working in a particular industry. People who change careers would not be regarded as more experienced because they still have corporate experience, which has given them practical work knowledge.

    MNC vs Startup
    Experience Required
    Salary Expectations
    Work Culture
    Learning Curve
    Learning Methods

    MNC vs Startup

    Major Differences Between Working At a Startup and MNC
    Major Differences Between Working At a Startup and MNC

    An MNC is a large commercial organization with affiliated operating companies in different countries. With time and experience, companies like TCS, Infosys, and Wipro companies, which were once startups, have evolved into renowned and credible names in the industry with many projects under them.

    With more and more experienced and skilled people worldwide becoming part of these organizations, they have become what we call MNCs or Multinational Corporations.

    Startups are young companies founded to develop a unique product or service that fills an existing void or service gap in the market. A startup is a business that is just starting up. Startups carry a high risk of failure, but they can also be great perks, an emphasis on innovation, and unusual places to work and learning opportunities.

    One of the most confusing situations fresh graduates face today is whether to opt for large multinational companies or startup jobs. Both have pros and disadvantages to be weighed. It entirely depends upon your future goals and how you want to shape your career. It can be unclear for freshers to understand all of this; hence, we are here to help you figure this out.

    Experience Required

    An MNC requires a preset number of years of experience before considering applications. Each level of employment will have its prerequisite. They have very little flexibility in terms of considering under or over-experienced people.

    However, a Startup is a growing place. They are more welcoming to freshers and people with diverse experiences and backgrounds. They may be willing to consider applications from both over and under-experienced people.

    As per the survey done by Retailo technologies, 42% of newly graduated students prefer to work at startups because of many different reasons. And surprisingly their count is increasing daily
    As per the survey done by Retailo technologies, 42% of newly graduated students prefer to work at startups because of many different reasons. And surprisingly their count is increasing daily

    Salary Expectations

    An MNC has fixed pay bands, and you can keep expecting steady growth in your salary over the years. If someone wants to have a steady salary pattern for a lifetime, it is better to opt for Multinational companies.

    Planning a trip to Goa on your first salary? Forget it at any average Startup. Their initial payment will be too small for the work you put in. However, it is also as likely to shoot and double up in a couple of years or completely go under and leave you with nothing but experience on your CV and few lessons.

    Work Culture

    In general, Startups value people more than an MNC. In the case of a startup, every role comes with huge responsibilities. But, with greater responsibilities come more significant rewards, both on professional and personal levels.

    Since it is a Startup, you will be able to make a substantial impact. Since fewer people are involved in a startup’s functioning, there is less chance of one’s work being ignored. Thus, there is better work recognition in a startup.

    “A machine will not become a better machine by running for years. It only wears out. That’s what will happen to you.”

    When you end up working in an MNC. You can gain global recognition from MNCs. Your CV adds credibility if it bears the name of an important company… Maybe it won’t be appreciated daily, but if you perform well, the company’s top performers receive awards, benefits, and perks, which might be done annually, quarterly, or in six months(depending on company policies). But when these big companies reward, it is massive.

    Also, most MNCs provide their employees gratuity, provident funds, medical insurance, and other job securities. Want a dependable 9 to 5 job? Then an MNC is a suitable place for you. You will have a reasonable amount of time to spend with your family and friends.

    Learning Curve

    Career growth opportunities come with working for a larger organization. A multinational company often creates jobs all around the world. International corporations frequently equip one with a diverse environment since it involves people from racially and ethnically different cultures.

    But if you are not strong enough to get some achievement, then probably you need to stay at the same place for a greater time making your learning experience dull.

    The work done by an employee in MNC for 4 years is equivalent to the work done by an employee in a startup for 3 years only. Startups are in budding stages and hence, the work pressure over there is more than an MNC. But the best part about this is startups will give more practical work experience than MNCs.

    Startups still need to make their processes simplified and majorly involve the whole working team in different tasks. It gives out an opportunity for an employee to learn the whole working process right from the start of making the plans to delivering the service. Therefore, there are more learning opportunities in a startup.

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    Learning Methods

    Undoubtedly, Startups offer better learning graph, whereas MNCs offer good work-life balance
    Undoubtedly, Startups offer better learning graph, whereas MNCs offer good work-life balance

    Startups are still experiencing different methods and are still required to add points in their briefs. Hence, everyone, there is experimenting with their own way and are self-taught people. Joining a startup can be stressful initially, especially if one’s job description is unclear.

    One may also come under a lot of pressure to perform well when producing quality results. There is always an option for you to be creative and go out the way to try something valuable.

    MNCs have already settled up startups and hence have their own way of working, rules, and regulations in place. They do not expect freshers to join them without undergoing the training session and a guide of their rules and regulation.

    Hence, working at MNC can be like walking on a path made by someone else. The working culture of an MNC is disciplined but it does hold a number of opportunities for the freshers to learn.

    Conclusion

    As a Fresher, some stability and structure are required. Startups are more in sync with the work style of someone in their late 20s who can work with a bit of ambiguity. Thus, if you are an exceptional thinker and a creative person at heart, I would recommend a Startup that is a few years old and is just settling into its rhythm.

    They will be able to provide you with just the right amount of freedom and structure needed to operate optimally. And at the end of it, go where your heart takes you. Because if it doesn’t fill your soul, it is bound to wash away sooner or later. Or if you think it will be tiresome to be a part of a startup, MNCs are always welcoming new people into their companies.

    FAQs

    Is it better to join a startup as a fresher?

    If someone feels to explore a different side of the working patterns and is ready to take up the risk at the start of their career, then yes working at a startup as a fresher is a better option.

    Is the MNC job secure?

    Nothing can be guaranteed 100%. Hence, it will be false to say that MNC jobs are secure fully. But yes, they are secured till some length and can provide steady growth for the individual if they have the ability to surpass others.

    Why MNC is not good for fresher?

    Freshers working for any MNC have their dream position preselected before joining the company. But the actual time taken to achieve their dream can fall anywhere between 5-15 years or more. This is the biggest drawback why freshers should not work at MNC.

    Does working for a startup look good on your resume?

    Including the startup experience on the resume is always a good option to prefer irrespective of the startup’s present condition. Including it in your resume can showcase the ability and experience of work done in the past and provide many chances of creating a good impression on the leader.

  • What is Reputation Audit and How you can do a Reputation Audit For Your Brand?

    The reputation of your brand will have a direct impact on your sales. Analyzing what people think about your brand is very important.

    If people are talking negative things about your brand or even worse, not even talking about it then you are in serious trouble.

    Your brand name should generate excitement or a sense of trust in the minds of people.

    Taking feedback, improving your brand presence on the internet and building long-term relationships with your customers are important aspects of any business.

    A reputation audit of your brand will help you to grow your business.

    Don’t know how to do the audit? Keep reading this article and I will guide you through all the steps.

    What is a Reputation Audit?
    Why is Reputation Audit Important?
    Know your Target Audience
    Steps to Conduct a Reputation Audit

    ‌What is a Reputation Audit?

    A reputation audit will help you in understanding what people think about your brand.

    It will give you an in-depth review of where your brand is positioned in the market.

    You will understand the strengths, threats, and weaknesses of your brand.

    You will also get an idea of who your competitors are and how you are performing against them.

    Why is Reputation Audit Important?‌

    If you do a reputation audit you will understand how your brand is communicating with your target audience.

    Gone are the days when marketing was a one-way route. Nowadays, people share their experiences on social media. If you don’t answer their grievances and treat them well your business won’t grow and eventually fall.

    If you understand the relationship between your brand and the audience, you can understand flaws and work on them.

    You can find out why your sales are not going up. You can make effective strategies to skyrocket your sales and improve your company’s presence.

    If your online visibility is low and your reviews online are not good, your company will face a dull future.

    Know your Target Audience‌

    You should know who your target audience is before making the reputation audit. You can look at Google Analytics and other tools to know who your target audience is.

    You should know what your customers want and how you are fulfilling their wants.

    To make things easier for you answer the below questions to know your target audience:

    • My products are made for which age group? OR Who can use my products or services?
    • What is causing my audience to demand those products or services?
    • How is my product helping them?
    • What actions do I expect my audience to take?
    • What audience my competitors are targeting?

    Once you found out who your target audience is ask these questions to niche down:

    • What are the demographics of my audience?
    • What are their interests?
    • Where do they hang out online?
    • Who is the decision maker?
    • What are their income and expenditure?

    If you already have customers to whom you are selling your products you can create survey forms.

    In this way, you will get a better understanding of what your customers want and how you can help them in an efficient way                                                                    ‌‌

    Steps to Conduct a Reputation Audit:

    Think of words that people might use when they talk about your brand. Do a brainstorming session with your employees and then select 15-20 words that are closely related to your brand.

    2)Time to Use Those Words:

    Search those words on Google and check if your business website or your business name is appearing in the search results or not.

    Check the first 3 pages. Review what people are saying about your products or services.

    Also, keep an eye on how many times your website is appearing in the search results.

    Then check out of all those visitors how many people actually click on your Website’s link. You can use Google Analytics for this purpose.

    3)Check Review Sites:

    Hop over to review sites where customers leave reviews about your product and service. Web Pages that appear on page one of Google for your company name or product keywords are very important.

    Check if there are any negative reviews about your products. Understand what is lacking in your product or service.

    Reply to those negative reviews politely. Tell them that you will improve things or explain why that particular thing went wrong.

    Offer them a good reason to try your product or service again. If you have a lot of negative reviews then it is a big problem.

    Understand what are the majority of complaints about (poor customer service, bad product quality, shipping delays, rude staff) and improve those things immediately.

    If there are any negative reviews on an influencer’s website then contact them and thank them for their honesty. Ask them to try the improved version of the product.

    Make sure this time you make them happy and provide them with a memorable experience.

    If they are happy they might write another article praising your products.

    If you find negative reviews in magazines then it is very tough to make magazines change their mind. In this case, make sure other magazines are praising your products.

    4)Use Your Loyal or Satisfied Customers:

    Make sure your loyal or satisfied customers leave a positive review. These reviews should be on Google and various other social media handles. Remember lots of positive reviews will have a positive impact on your brand.

    5)Review Your Social Media Handles:

    Search what people are saying about your brand on various social media handles.

    Nowadays, people tag brands whenever they mention them so it would be easy for you to collect the data.

    Understand for what product or service they are mentioning your brand and how many people engage on your social media handle.

    Read the comments present in your posts. This will help you to get a better understanding of whether people are liking things that your brand is doing or not.

    Check how many times your content has been shared on social media. You can use Instagram Analytics, Facebook Tools, or LinkedIn Automation Tools to get all the necessary data.

    If you have a YouTube Channel check how many views are there on your videos.

    Understand which videos are getting the most views. You can use YouTube Analytics to review these things.

    6)Review Your Collected Data:

    Now, it’s time to review the data that you have collected till now. You remember why we have collected this data right? To understand what people think about your brand across the web.

    After collecting this data you will find yourself in these 4 situations:

    No Web Presence – There is very little information about your brand on the web. People don’t know about your brand.

    In this scenario, your main focus is to create a web presence and interact with customers online.

    Less Web Presence – You do have information about your brand but it is from your website itself. This usually happens when you have recently started to create a presence online.

    You need to make sure customers talk about your brand on various websites and on social media.

    Negative Perception – There is a lot of information about your brand on the internet, but people don’t like your brand. You have tons of negative reviews on various platforms.

    Don’t get shocked or sad. Relax and understand what things people don’t like about your products or services.

    Improve your product and services and you will soon get positive reviews.

    Positive Perception – People are impressed with your services. Everything is positive but don’t get too excited. You need to keep growing.

    Add more features to your existing products. Remember if you are careless, a positive web presence will soon turn into a negative one.

    Conclusion

    As you can see online reputation audit can be very helpful for your business. Most importantly, you can do the audit yourself.

    Remember analyzing your reputation online is as important as other things.

    If people are not talking about your brand online then your business will soon come to an end.

    The market has become very competitive and that’s why you need to be alert all the time. You need to constantly monitor and work on improving things.

    FAQ

    Why is a reputation audit important for my brand?

    A reputation audit will tell you what your target audience thinks about your brand.

    You will understand if your audience has a positive perception of your brand or negative perception. You will also understand where your brand stands in the market.

    Which are the best reputation audit tools?

    Some of the best reputation audit tools are Google Alerts, SEMrush, RankRanger, Social Mention, and SentiOne.

    What is the meaning of reputation audit in simple words?

    In simple words, a reputation audit is a way to understand what people think about your brand.

    Can I do a reputation audit myself?

    Yes, you can easily do a reputation audit by yourself. You don’t need to hire someone as the process is quite simple.

  • What is ADKAR MODEL? | Pros and Cons of the ADKAR Model

    In today’s competitive world your organization needs to constantly evolve and adapt to the rapidly changing environment. If you don’t change on time your organization will come to an end. Although, change is a very complicated process.

    No matter how good the change might be for you or your organization it is very difficult to adapt to new things. This is because our brains are hardwired to look for familiar and easy things.

    So, how do you change? The ADKAR model provides you with 5 steps that make change a reality. Read this article till the end to know what the ADKAR model is and how you can use it.

    What is the ADKAR Model?
    Awareness
    Desire
    Knowledge
    Ability
    Reinforcement
    Pros of the ADKAR Model
    Cons of the ADKAR Model

    What is the ADKAR Model?

    The ADKAR model was developed by author Jeff Hiatt, after analyzing the change patterns of more than 700 organizations. The model provides a 5 step framework that one needs to follow to make change possible. After a point of time, change becomes necessary for the growth of the organization to help evolve and stay in the competition. You can even use the ADKAR model at an individual level too.

    This framework can be followed in any sequence, although it is highly recommended to follow the ADKAR model in the sequence given below.

    The ADKAR Model
    The ADKAR Model
    • A: Awareness
    • D: Desire
    • K: Knowledge
    • A: Ability
    • R: Reinforcement

    Awareness

    In the first stage, you need to make sure that your employees are aware of the exact reason why they need to change. This step is very crucial because change is a complicated process.

    Sometimes, we are habituated to doing things in a certain way that even if someone comes up with a more efficient way to do that work we don’t take the initiative to change. This is why telling your employees the benefits of change is very important. Don’t keep the conversation one-directional. Ask them questions and build trust.

    Share real-life examples and tell different stories to help your employees understand the need for change. Don’t complicate things and break down all the steps in an easy-to-understand manner. Remember, you don’t want to scare your employees, rather encourage them to take the right steps for change.

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    Desire

    Understanding the need for change and having the desire to take the right steps to change are two different things. This is a very tricky phase because you cannot easily understand what others are feeling.

    If there is no desire, your decision for change might not go well with your employees and that may proceed to make things worse. That is why healthy company culture is required to excel. So, the desire for change is very necessary to achieve the wanted results.

    To foster desire tell your employees how the change will make their work easier or why they should be concerned about the change. For example, don’t tell your employees that they must use the new software launched by your company for sales and marketing. Instead, make them understand how easy it would be for the sales and marketing team to monitor reports and send details to different teams using the new software.

    Tell your employees that they would be able to manage more tasks in less time which would lead to more returns for the company and ultimately more salary for them. In this way, your employees will get the desire to learn and use the new software.

    Understand which things are creating resistance in the way of change. Do your employees fear that they don’t have the right skills to make the change happen? Are your employers finding the roadmap to change difficult? Find the root cause for resistance and give the required solutions to your employees.

    Knowledge

    In this phase, you tell your employees what responsibilities, skills, and tools they need to have in order to change. Give them clear guidance, break down the training part in detail and make sure your employees know what steps they need to take during the journey

    Don’t give your team generic training or steps, rather be specific. For example, if you want your employees to use the new software you need to give individual tasks to different teams. This means that you need to provide in-depth training to the sales and marketing team on how they should use the software. While other teams would only be concerned about how they can download and share reports.

    Remember too much change may demotivate your employees. Break down the change journey into small steps. Teach your employees using different mediums like PPTs, videos, interactive games, blogs, or a self-paced course.

    Ability

    In this stage, you are asking the question: Is the desired change achieved? Basically, you are applying what you have learned in the previous stages. You are demonstrating a change in reality.

    So, if we take the example of newly launched software again we are now testing how your employers are using the software for sales and marketing. Are your employers able to upload data and analyze it? Can your employees make reports and send them to other teammates? Now, how can we measure change?

    Here, are three effective ways to measure change effectively:

    Speed of Adoption

    Here, you measure how quickly your employees adapt to the change. For example, how much time are your employers taking to learn the functionalities of the new software?

    Ultimate Utilisation

    How much of the change has been adopted by the employees? Coming back to the previous example, you can check how many things your employees can do with the new software.

    Proficiency

    How well the person is performing the change? Basically, you are checking how efficiently your employers are using the new software. Can your employees manage multiple tasks and boost their productivity using the software?

    Although these are not hard and fast ways to measure change. You need to find the measures according to your change. To enhance ability, provide practical training, and monitor the performances. Allow your teams to test out their skills.

    Reinforcement

    Implementing a change for a few days doesn’t mean that your employees would continue following the new pattern.

    That’s why you need to continuously train your employees until the change becomes a habit. Evaluate the results of the change and if the results are positive celebrate the success. Correct mistakes if your employees fall back to the old habits.

    On the other hand, if your employees are adopting the change efficiently, praise them publicly. This would encourage other employees to adapt to the change. Take feedback and try to find the pain points. You might even want to consider providing more training to your employees if needed.

    Pros of the ADKAR Model

    • The ADKAR model can be used both in small and big companies. It can also be used on an individual level.
    • The model focuses on people’s needs and behavioural patterns.
    • At the same time, the model provides a practical approach that can be applied immediately.

    Cons of the ADKAR Model

    • Since the model is ready-made and can be applied instantly it doesn’t provide you with micro-level details. You are not able to get a deeper knowledge about change.
    • If you want a more complex change management system that is targeted to your organizational culture then the ADKAR model may not be suitable for you.

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    Conclusion

    As you can see if you use the ADKAR model effectively you will see a change in your employees. Although it is not mandatory to use only this change model. You can use other models as well according to your needs and organizational culture.

    You might even want to combine other models with the ADKAR model to build an effective change system for your organization. Remember, first you need to tell your employees why are the changes being implemented. Tell them the exact reason without complicating things.

    Then to build desire tell the benefits of the change. Find what is stopping your employers to make the change and address it with some effective solutions. Once you build desire in your employees define what skills, responsibilities, and steps they need to take in order to make the change possible. Make a roadmap and break down all the steps into small tasks.

    In the ability stage, you check how much your employees have changed. Measure the change, find pain points, provide solutions, take feedback and repeat the cycle.

    In the end, you will analyze how much change has been adapted. Praise your employers publicly if they have efficiently adapted to the change and provide training to the ones who are finding the change difficult.

    FAQs

    Who Developed the ADKAR Model?

    Jeff Hiatt, founder of Prosci developed the ADKAR model after analyzing the change patterns of more than 700 organizations.

    How Does ADKAR Change Model Work?

    Awareness and desire build the mindset for change. During the first two stages, you understand the reason and need for change. Knowledge provides you with a clear roadmap on how you change. In the fourth stage, you understand how much you have changed and what you can do to further improve. In the reinforcement stage, you take all the efforts to make the change a habit.

    Which of the Five ADKAR Steps Do You Think Would be Most Challenging?

    Building a desire for change is very difficult since most of us don’t want to change. This is because our brains are hardwired to look for familiar and easy things.

  • In-House Web Development VS Outsourced Web Development| Which One Should You Choose?

    In-House Web Development vs Outsourced Web Development? It’s a topic that has been debated by almost every website owner and business owner in the world today.

    It’s no longer just a question of how much money you can save on hiring a team of developers to make your website. There are many other factors that can influence your decision when choosing to outsource or in-house design a website.

    You’ve decided to outsource your web design. There are many factors that may have drawn you to this decision including the budget, time, and technical skills of the company doing the work for you. But what about the cost?

    What’s the true difference between in-house development and outsourcing web design? Here we compare a few points. Let’s get started.

    What is In-house Web Development?
    Advantages of Using In-house Web Development
    Disadvantages of Using In-house Web Development
    What is Outsourced Web Development?
    Advantages of Using Outsourced Web Development
    Disadvantages of Using Outsourced Web Development
    Factors to Keep in Mind Before Choosing
    In-House Web Development or Outsourced Web Development, Which one to Choose?

    What is In-house Web Development?

    In-house web development is when you develop your own website, using the tools and software that you want. You can use any technology or programming language that you want to build it, and the only limit to how long it takes is how much time you have available. While this may seem like an easy way to get a website up quickly, it can also be very expensive.

    Advantages of Using In-house Web Development

    • In-house web development often provides you with a better understanding of your company’s needs and processes, which can lead to more effective solutions. Outsourcing can often leave you with a different perspective on what you’re trying to accomplish than the one you have in-house.
    • In-house web development helps small business owners build their brands and grow their businesses by providing them with an online presence that reflects their values and mission statement. Outsourcing can take time away from other aspects of business growth (like marketing or hiring), which isn’t always possible if you’re just starting out as a small business owner with limited resources available at the moment.

    Disadvantages of Using In-house Web Development

    • A big disadvantage is an increased cost. When you are hiring someone who knows what they are doing and has years of experience in the industry, it means that you will have to pay more money for them than if you were simply hiring someone who was just starting out.
    • Another disadvantage is that there is no guarantee that your website will actually work properly when it goes live on the Internet. This can be especially problematic if you are trying to sell something or have other types of personal information available on your website; this is why having a professional company handle all aspects of your project is recommended rather than trying to do all these things yourself.

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    What is Outsourced Web Development?

    Reasons for Outsourcing
    Reasons for Outsourcing

    Outsourced Web Development has been around for quite some time now. It’s one of the most common ways of getting a new website created for businesses or individuals who don’t have the time or expertise to do it themselves.

    Outsourced web development companies will typically take your information about what kind of site you are trying to build and what features you need in order for it to be successful on the market, then use their own experts in order to create a great-looking site with all of the necessary features needed by their clients.

    The cost of an outsourced web development company varies widely depending on how complex your project is going to be (i.e., if they will be creating multiple pages instead of just one).

    • It increases the ability to focus on other aspects of your business while the development is being done.

    • You can be sure that you will get the quality work that you need and want.

    • It’s usually cheaper than in-house development since you don’t have to pay for employees and office space.

    Disadvantages of Using Outsourced Web Development

    • You’ll have less control over how things go if you outsource this type of work; therefore, make sure that your team understands how much power they have over their employees’ work ethic and performance standards so that they feel comfortable acting as supervisors over them when necessary (e.g., when dealing with difficult clients).
    • Another disadvantage of outsourcing web development is that if you fail to complete the project then your company will suffer from it and this may lead to some consequences such as losing customers or spending less on marketing efforts. However, if you do it right then there are no disadvantages involved in this kind of project as everything goes according to plan and no issues occur which can cause problems for your business.

    Factors to Keep in Mind Before Choosing

    Rank Top Outsourcing Destinations Most Outsourced Services
    1 India IT and software development
    2 Philippines Customer service, back office
    3 United States Tech support, IT-related services
    4 Ukraine IT outsourcing
    5 Poland IT and software development
    6 Brazil IT outsourcing
    7 South Africa Contact center, IT outsourcing
    8 Malaysia IT and software development

    • A major consideration in the web development industry is whether to carry out development in-house or to farm it out. There are many factors involved when deciding whether to carry out web development in-house or outsource it.
    • In-house development is the most reliable option, but it’s also the most expensive. You’ll need to hire developers who can write code and manage the project from start to finish. You’ll also need to invest in tools like a web editor that makes it easier for your developers to create and edit the content on the site.
    • On the other hand, if you want someone else to build your site for you, then Outsourcing development is an excellent option because it saves time and money. Vendors will provide everything from design through implementation, so all you have to do is pay them! This type of development is ideal if your website has a large number of pages or users who will be accessing the site frequently (like a business).
    • Another factor is speed. If you know what you want your site to look like, then outsourcing may be a good option for you because companies can work faster than if they were doing it themselves. This can help get your website done faster and with less stress for all involved parties involved (both customers and business owners).
    • Another consideration is how long it takes for a company to deliver on its promises. Some companies take longer than others because they might not know the answers upfront; but if they do know them ahead of time, then this could be an advantage too!

    In-House Web Development or Outsourced Web Development, Which one to Choose?

    It’s a good question without any clear answer, But it is wise to analyze your need and budget before choosing either In-house web development or Outsourced web development. Both in-house and outsourced web development can be successful, but they have their own pros and cons.

    In-house development is more cost-effective than outsourcing, but it also requires more time and effort to make sure everything’s done right. Outsourcing is more affordable than in-house development, but it can be difficult to find someone who specializes in your niche or industry.

    Outsourcing a website design can seem like the best option for most companies but think about it from this perspective: if you were trying to hire someone to design a business card, what would be their qualifications? Or how do you choose between two different clients’ needs? Are they going to look at your business card or listen to what you have to say? Will they create something that represents you and your brand well or will they end up designing something that doesn’t work with what you need? That’s why it’s important to consider both sides before making an ultimate decision on which path will work best for your company.

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    Conclusion

    To put it in simple words, your choice should be based on your business and how you want to operate within it. Seeking outside, independent help is a good idea if you wish to overcome the hurdles of project ownership and management, or if your business simply can’t handle ongoing development. On the other hand, if you want to expand your in-house development team or are looking to grow your company’s expertise in this area, that’s something worth exploring. Whatever path you choose will depend on your specific needs and circumstances—which is why it is good to consider all options fully before making a final decision that could greatly impact the future state of your business.

    FAQs

    Is outsourcing more cost-effective?

    It depends on the company. If your company is small and agile, then yes, it’s probably not worth the extra cost to outsource. You will be able to work with a firm that has better training and experience, which means they can get the job done faster and cheaper. But if your business is growing quickly, or if you don’t have the time or resources to manage multiple contractors, then outsourcing may be a good option for you.

    Why in-house development is the best option in development strategies?

    In-house development is the best option in development strategies because it allows you to maintain full control over the process and create something that you are proud of.
    Even if your company is small, you can still do this. You can hire someone who has experience with the tools and technologies you need for your project or even a freelance developer who will work with you to create something amazing.

    How should agencies determine whether to outsource or develop Web sites in-house?

    Agencies should determine whether to outsource or develop Web sites in-house based on a number of factors, including:
    -The agency’s size and resources
    -The size and type of project they’re working on
    -Whether or not they have any experience developing or maintaining an online presence
    -Their knowledge of the industry’s latest trends and technologies

  • Is EOS Coin a Good Investment? | Analysis and Experts Views

    The EOS Coin has gained a lot of popularity in the crypto market. The crypto token had a very successful ICO of all time as it raised more than $4 billion.

    Due to this many investors are closely looking at the EOS price.

    But, is it really worth investing? Read this article till the end to find the answer to this question.

    What is EOS?
    What is Unique about EOS Coins?
    EOS Price Analysis and Price Potential
    Long Term EOS Price Prediction 2022-2031
    Expert Views on EOS Coin
    Is EOS a Good Investment?
    FAQ

    What is EOS?

    EOS is developed by Block.one and was founded in 2017. It was released as an open-source platform in 2018.

    You must have seen many people comparing EOS to Ethereum. This is because EOS is also a blockchain ecosystem through which individuals can create and develop decentralized apps (dApps).

    Like many other cryptocurrencies, EOS was created to solve flexibility, scalability, speed issues, and high fees in Ethereum and Bitcoin.

    The whitepaper for EOS is written by Dan Larimer and Brendan Blumer and was released in 2017.

    EOS wants to be the most powerful infrastructure for dApps. Block.one has provided all the necessary tools and resources to help developers make functional apps quickly. The user-friendly design is its highlighting feature.

    Many investors believe that EOS will change how corporations interact by providing decentralized enterprise solutions which can significantly increase productivity.

    Interestingly, the owners of EOS coins also have the right to vote on various issues. Using blockchain they can participate in on-chain governance. EOS is also supported by famous investors like Peter Thiel and Michael Novogratz.

    What is Unique about EOS Coins?

    In the crypto market EOS is a controversial crypto token. But, due to its powerful technology, it has long-term profit potential.

    The blockchain technology behind the EOS.IO can empower many industries and businesses. It can change computer resources and how various applications work.

    Due to all these impactful reasons, the value of EOS in the long term can increase. The most overlooked factor is that the Block.one CEO and EOS cryptocurrency token’s main developer is Dan Larimer.

    He is the person who generated the concept of decentralized autonomous organizations (DAO) and invented proof-of-stake. No wonder he is known as Bill Gates of blockchain.

    He was an integral part of the founding of companies like Steemit, Bitshares, and Graphene. Larimer’s involvement in EOS suggests that EOS will be in this race for the long term and its price can also increase.

    EOS Price Analysis and Price Potential

    To analyze the price potential of EOS we first need to check its history. EOS was traded at around $1 in 2017. But, by the end of the year, it reached a very high price of $11.39.

    In April 2018 it skyrocketed and reached its all-time high of $22.89 but it eventually fell to $2.56 by December 2018.

    In 2021 the EOS cryptocurrency had a price of $2.61 and increased to $8.72 in April. At the beginning of May, the EOS price spiked to $13.47 and then was fluctuating between $6.15 – $6.30 on 1st June.

    Now, predicting the actual value of EOS is quite tough. This is because blockchain technology like EOS is new and still has many years left to show its true potential.

    Many investors speculate that blockchain technology will upgrade more and revolutionize many industries. If this happens then EOS has the potential to break its all-time high price.

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    Long Term EOS Price Prediction 2022-2031

    EOS will continue to jump up and down in the coming years. The analysis given below is by Cryptopolitan.

    Note: These are all predictions and not actual figures. No one can accurately predict the price changes of EOS. With that in mind let’s see the predictions.

    In 2022, the anticipated minimum price of EOS is $1.64. Considering the average EOS price prediction of $1.70, the price may go as high as $1.92.

    In 2023,  the EOS future price of EOS cryptocurrency can reach a minimum value of $2.37. The average price for EOS could be $2.45 with a maximum price of $2.85.

    The minimum price of EOS in 2024 could be $3.57 and the average selling price can reach $3.67. It can touch a maximum price of $4.14.

    In 2025, the cost of 1 EOS can reach  $5.09. Throughout the year the coin will carry an average price of  $5.28. The EOS price can go as high as $6.18.

    The minimum price of EOS in 2026 is predicted to be $7.45 with an average anticipated price of $7.67. The coin can go as high as $8.64.

    In 2027, the lowest price of EOS is predicted to be $10.86 with an average trading value of $11.25. While the highest price of EOS could be $13.12.

    In 2028, the minimum price could be $15.89 with an average selling price of $16.34. The highest the EOS could reach is $18.99.

    It is predicted that EOS in 2029 will reach a minimum price of $24.27 with the average price being $24.92. The maximum price of EOS in 2029 will be $27.76.

    In 2030, the lowest the coin could reach is $34.17. EOS will have an average trading price of $35.17 and the highest price predicted is $41.52.

    In 2031, EOS will have the lowest price of $49.33. The highest it can reach is $60.40, with an average prediction price of $51.09.

    You need to understand that the crypto market is unpredictable and these predictions shouldn’t be your only deciding factor for investing in crypto.

    Expert Views on EOS Coin

    Jihan Wu, CEO of Bitmain said that the EOSIO protocol is a great example of blockchain innovation. Its performance and scalability can meet the needs of demanding consumer applications and will pave the way for mainstream blockchain adoption.

    Galaxy Digital which is a crypto investment firm has made a huge investment in this project. Founder Michael Novogratz said that EOS had significant outperformance compared to the rest of his company’s portfolio.

    Wallet Investor suggests that EOS can be a good long-term investment.

    Edgar Fernandez, EOS Costa Rica Co-Founder said, “EOS has the potential to create millions of verified human EOSIO based accounts if there’s a use case behind it, whether that’s regulatory, in the private industry, or public sector. It could be anything from decentralised ID to efficiency in customs agencies, to issuing bonds on a blockchain, to tokenized fiat money, or the traceability of vaccines”.

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    Is EOS a Good Investment?

    EOS is a good investment in the long run. But, if you are looking for a short-term investment then EOS is not a good choice for you. Your investment decision will depend upon your price analysis, fundamental analysis, and future situations in blockchain technology.

    The development in blockchain development and how it will replace a lot of things indicate that EOS has a bright future. Although there is no definite answer to this question. It depends upon your investment style and taste.

    As you know the crypto market is unpredictable and we cannot advise you anything. How much risk investors should take will depend upon their comfort and income. But, as you have noticed through the EOS coin numbers and what other investors think EOS can benefit you if you make the right decisions at the right time.

    FAQ

    Who is the founder of EOS?

    Dan Larimer is the founder of EOS.

    When was EOS crypto founded?

    The Alpha release of EOS crypto was in 2018 and the latest release was in 2020.

    Is EOS a good investment?

    According to experts and forecasts, EOS is a great long-term investment.