Archives for June 2021

How to Take Back Control of Your Earning Potential

June 16, 2021 by Contributed Post Leave a Comment

There comes the point in many people’s careers where they grow tired of office politics and continually competing for the next promotion. After decades of working, it can sometimes feel too tiring to keep playing the same games and chasing the same goals. Instead, you may feel ready to focus on the very reason you started work in the first place, which is to make money.

When you have been in the corporate world for a long time, it is easy to get caught up in the workplace culture, and you will likely adapt to your environment and your role as an employee. But, as you grow in age and experience, you may not find the constant competition to be as exhilarating as it once was, and you may feel you no longer need to prove yourself to anyone. This realization marks a crucial turning point in your working life. Rather than signaling the end of your career, you may be at a crossroads and in a position where you can reassess your priorities. Reconfiguring your working life to put yourself in the driving seat can feel like an enviable position to be in and will help you to bridge the gap between working and retirement.

Working on your own terms and freeing up extra time for your interests and hobbies can feel like the ultimate solution to the ever-elusive work/life balance situation. If you are keen to find ways of making money that does not take over your time, why not consider some of these options?

Launch an eCommerce Store

Online shopping has enjoyed a considerable boost in the past year. Thanks to its 24-hour availability, choice of products, and convenience, shopping online is something that is set to continue to grow in popularity. To capitalize on this, you could launch your own eCommerce store. One of the best parts of running an online store is the flexibility that it allows and the potential to sell products that interest you and make you money at the same time.

Start Trading

If you are interested in the markets and have a keen eye for finance, trading could be a viable option for you. Before you start trading, it pays to do your research and weigh up the risks carefully. But, if you find that it is an area that interests you, you may want to look for a broker that enables you to Trade Forex in a way that suits you. Keeping an eye on the markets and how they perform can be an exciting pastime and potentially one that allows you to make a lot of money.

Use Your Experience to Your Advantage

After dedicating years working in the corporate world, you have likely racked up some considerable experience. This experience can be hugely valuable and is something you can use as an alternative income stream. Creating online courses based on your expertise could help you share your experience with others, helping them to develop their own careers.

Employee Training and Development During Social Distancing: Is this the New Normal?

June 16, 2021 by Guest Post Leave a Comment

COVID-19 has changed the world as we know it. Businesses from all sizes and walks of life are massively switching to working from home. This move has redefined the everyday life of countless people around the world. Even though the virus is contained in certain parts of the world, COVID-19 is not completely eradicated. As a result, social distancing and remote work are expected to continue being utilized by corporations worldwide in the short-term future.

Remote work presents a lot of tough challenges to employers — from technological solutions and corporate security on one hand to staff training and development on the other. Even though your employees are not present at the office, they still need to be adequately coached and trained in order to be happy and productive. If you are one of the many professionals who are struggling to implement effective training and development procedures for their remote team, this article is for you.

As a leader, you know that investing in your staff is one of the best ways to improve performance, results, and employee retention. In the following paragraphs, we will give you some practical advice on how to conduct highly effective training and development sessions while you and your team are safely working from home.

Embrace Virtual Training and Development

Modern technologies allow people to efficiently work together and stay aligned even when physically separate. They are also a powerful tool that managers and trainers can utilize in order to train their remote teams and ensure that all work processes continue in a normal and productive way. No matter the size or industry of your business, you can make use of software and hardware solutions that make long-distance communication and interaction possible.

Virtual training comes with a lot of benefits, with one of the most important ones being scheduling. You no longer need to secure a room for your employee training sessions, as everything is done online. Additionally, utilizing virtual learning tools can make your training easy to adapt to feedback in real-time. There are a myriad of digital tools you can use to improve the training and development processes, making them more engaging, memorable, and effective as a result.

Lead By Example

In order for any new company policy to be implemented, the change must start from the top. Executive managers should lead the charge to adapt virtual training by personally taking part in sessions. Even better, CEOs and other executive staff are particularly well-suited to moderate training and development events. Employees will be able to adapt to the new situation better if their superiors are actively supporting the idea. On top of that, having senior staff on the same level as employees helps boost morale and teamwork.

One of the benefits of virtual learning and development is that it develops a strange sense of familiarity between people. Some might say that it is even more effective than working together in the office. This gives leaders and executive managers the opportunity to step out of their professional persona for a bit. By doing that, they will appear more relatable and authentic to the employees.

Don’t Be Afraid to Get Creative

Depending on the industry you are working in, you might need to think outside of the box when it comes to implementing training procedures during social distancing. For example, if you need to train on-site staff in the construction and manufacturing industries, you might need to look into purchasing a tour guide system. Such equipment has many advantageous uses when it comes to employee support, especially if they are conducting fieldwork.

If everyone is just stuck in their homes and working remotely, keep in mind that a person’s attention span is a fickle thing. An effective virtual learning program is much more than just putting on some slides and talking over them. Ensure that your staff is engaged by translating standard exercises and games to the virtual environment. You can effectively use online collaboration software and other standard apps to provide an authentic and efficient learning experience.

Encourage Collaboration

When it comes to company training and education in general, working in a team and collaborating with your fellow colleagues is crucial. In order to maximize the impact of your staff training exercises and events, you need to actively encourage communication and teamwork. Even though it might seem hard when social distancing rules apply, virtual tools give you the ability to do it just right — and even go a step further.

A great idea you can implement in your training system is the creation of an online education portal that employees can access at any time. When you combine this with collaboration tools like task management systems and chat apps, your staff will feel right at home at all times. Create an environment where asking questions is not only permitted, but expected. This way, your employees will be able to freely engage and any obstacles that social distancing poses will be eliminated.

Conclusion

Even though the rapid implementation of social distancing rules and working from home came as a shock to many, people around the world quickly adapted to this status quo. In fact, we can now safely say that this new reality offers a lot more benefits than previously imagined. The new normal comes with lots of challenges, but also with plenty of opportunities. When it comes to employee training, social distancing is not the issue it would’ve been 20 years ago.

With modern technologies and virtual learning tools, businesses from all industries can continue onboarding, coaching, and developing their staff. The virtual “classroom” can work wonders if implemented correctly. Follow the advice outlined in this article and see how you can turn this unusual situation into an advantage.

About the Author:

Tremper Longman is Marketing Director at Plant-Tours.com, manufacturer of the most reliable, easy to use, highest quality headset communication systems for the manufacturing, industrial and institution markets. In addition, he has a wide breadth of experience from multiple industries including cybersecurity, manufacturing and communications. Tremper is a graduate of Clemson University with a Bachelor of Science degree in Marketing and also holds an MBA from The University of Connecticut in Marketing Intelligence.

How To Help Your Retired Parent Start Their Own At-Home Business

June 16, 2021 by Katie Conroy Leave a Comment

Photo via Pixabay by Stevepb

Starting an at-home business isn’t exactly easy, but recently, more people have been tackling this challenge. Advances in technology have made it easier to become an entrepreneur from your own home. From making and selling crafts and other handmade items to becoming a freelancer, working for yourself is just as attainable as any other job these days, and it’s become a huge draw for seniors who are retired but want to add to their income without straining themselves.

To start an at-home business, your parent will need time and patience. Because the internet will likely be a big part of it, it’s important for seniors to be technology savvy. Knowing at least the basics of how to use online tools and social media will help them advance their business successfully and quickly. There are ways you can help your retired parent even if you live far away.

Keep reading for tips on how to help your senior parent start their own at-home business, presented today by Mike McRitchie.

Look for an Online Lesson Plan

Teaching anyone how to do something long-distance can be tricky, but thankfully there are several websites out there that are specifically made for seniors who want to start learning computer basics. Look for a lesson plan that they can follow easily; you can start at NetLiteracy.org for lessons on using computers, navigating online, emailing, and setting up social media pages. Social media can help your loved one boost their business quickly by connecting them with clients and helping them network.

Talk About Internet Safety

Internet safety is important for anyone, regardless of their age, and since many seniors aren’t familiar with the trappings of social media and email, they may not be aware of scams, viruses, and hackers. Talk to your loved one about how to stay safe online. Let them know to never give out private information, protect and change passwords often, and never accept a message from someone they don’t know.

Direct Them to Local Classes

There may be several local classes in your loved one’s area that will help them learn new skills while connecting with other like-minded individuals. Check out the library or senior center where your parent lives for more information. Sometimes, being in a physical class is more helpful than trying to learn online. According to headspace.org, “Completion rate of teacher-led classes is almost five times higher than that of online learning.” It is important to keep in mind that in-person classes are not as flexible as online classes, and it might be difficult to find the right class, depending on where your parents live.

Look at Business Niches

There are several options for your loved one when it comes to starting an at-home business, so talk to them about their plans and help them find the best option for their needs. If they are making a product — such as furniture, bath products, or artwork — there are many websites that will host an online store for a minimal listing fee per item. If they are offering a service, such as accounting or tutoring, look for the best sites that will help them gain clients.

Talk About the Legalities

There are several things to consider when starting a business online, from learning how to protect one’s assets to making sure the taxes are paid on time. One of the most important first steps to starting a small business is coming up with a name and logo, and this can be extremely time-consuming and overwhelming for anyone, let alone a senior. Guide them towards easy online tools for help, which will help create a spectacular, recognizable logo.

Does your parent plan to hire employees? If so, let’s talk payroll. Essentially, payroll involves the way a business pays its employees. It also involves the business taking out the right deductions and taking care of payroll taxes on time. Fortunately for those who don’t want to handle the payroll process themselves, there are services available that will handle these important tasks for you.

Helping your retired parent start an at-home business will take some time and patience, so be sure you have plenty of both before you get started. With a good plan and some help from both online and traditional tools, you and your loved one can create a successful business that will let them live out their post-retirement dreams.

5 Smart Tips to Become a Better Business Traveler in 2021

June 16, 2021 by Keith Coppersmith Leave a Comment

While business travel might have been restricted last year, in 2021 the pandemic is finally dying down and corporate travel is once more becoming a viable option for many business leaders. So much so, in fact, that you can start planning your national and international travels for 2021 as more and more countries continue to lift their travel bans. Even though you might have gotten used to handling business via Zoom, it’s important to resume traveling, especially to those crucial business events that can help you grow your brand on numerous fronts.

However, there’s no denying that corporate travel can be a time-consuming, resource-intensive process, especially when it comes to finances. That said, with proper planning and preparation, and by implementing some key tips while on the road, you can save money for your business and become a better corporate traveler in the process.

Let’s take a look at the top tips you can use to travel more efficiently and effectively for business in 2021.

Find a better credit card plan and join reward programs

The first and most obvious way you can become a better business traveler and save money in the process is to join the various rewards programs offered by your credit card provider, your airline, and even the hotel chain you stay at during your travels. Keep in mind that all of these companies have their loyalty programs, and the more you use their products and services, the better the rewards are going to be in the long run.

That said, your current credit card provider might not offer any perks for your chosen plan, or at all, and if that is the case, then it’s time to find a better one. You should look for a credit card provider that offers various perks like cashback rewards on certain purchases, zero transaction fees for credit card spending abroad, and the like. It’s also important to join a reward program with your airline so that you can accrue frequent flyer miles, and you can also get points with your hotel if you choose to stay with the same brand every time.

Keep your devices topped-off

Business travel can be taxing on the body and the mind, but it can also be taxing on all of those devices you use on a daily basis. In a tech-driven world, you can’t afford to get disconnected at any moment, especially if you’re constantly communicating with clients and team members while on the go. If you’re traveling the different stores and job sites you own to connect with your employees and boost morale, for example, that doesn’t mean that you can simply go off the grid and forget about your own work.

To that end, make sure to keep your devices topped-off at all times by bringing a portable charger. If you’re traveling internationally, be sure to check the power outlets and voltages used at your destination and bring your own power adapter just in case. This way, your devices won’t ever die on you in the middle of an important Zoom call, and you’ll stay connected to your clients and employees wherever you are.

Get the right insurance for every trip

Having the right insurance policy at your side is paramount to being a successful business traveler, because you never know what might happen on the road. The worst thing that can happen to you is having to pay out of pocket for any unforeseen expenses, and even though the company might cover those expenses, it’s not exactly the best way to save money for your business.

When you’re traveling and renting a car to get around with ease, it’s important to have a comprehensive car insurance policy to cover you against accidents and any mishaps on the road. Likewise, you should get the proper travel insurance and any other policy to protect your valuables to avoid any extraneous expenses should something happen during your travels.

Take the time to organize a detailed itinerary

Great business travelers always have everything planned out, with enough time allocated in their day for every business and leisure activity. Everything in your schedule should have its own timeslot so that you can make it to every meeting, and have enough time to rest and recuperate in your downtime. If you are traveling to promote your brand to new potential customers, then it’s all the more important to have a detailed itinerary so that you don’t miss out on any sales opportunities.

Try to fit everything into your carry-on

Lastly, keep in mind that you don’t need to bring any cumbersome luggage on your business trip – you simply need to learn how to fit everything in your carry-on. To do this, understand that you really don’t need that much stuff.

You can get by with only two suits and a couple of shirts, along with a pair of shoes that go with everything. If you invest in a functional carry-on bag, you will be able to easily organize your toiletries, devices, and other essentials to fit neatly in the overhead compartment.

Over to you

Becoming a better business traveler means less stress and higher financial savings along with a more enjoyable and productive trip. Use these simple tips to take your corporate travel to the next level and achieve all your goals while on the road.

Crypto Industry Warned About Anti-Money Laundering Compliance

June 15, 2021 by Contributed Post Leave a Comment

The Financial Conduct Authority (FCA) in the UK has warned many players in the crypto industry that they are falling short of anti-money laundering expectations. FCA compliance has been a hot topic in the crypto industry due to the rapid growth seen in recent months, which is expected to continue in the coming years. The regulator has now extended the deadline for crypto companies to register with it until March 2022, but questions remain about compliance with regulations within this industry.

Standards Not Are Being Upheld

According to the FCA, a significant number of businesses operating within this industry are not upholding the standards required of them under the Money Laundering Regulations. The crypto industry is a relatively new one, and, as such, it has been a scramble for the FCA to bring it into line with current regulations.

The regulator first began accepting registrations from crypto companies in January 2020, but since then, just five businesses have successfully registered. Some businesses are now operating under temporary status, while still, more have withdrawn their applications altogether.

There is a distinct focus on ensuring that the crypto industry complies with money laundering regulations. Cryptocurrencies are often anonymous, used in transactions across borders, and sometimes for illicit activities like money laundering. The anonymity of the technology has made it a complicated sector for regulators to oversee.

By extending the registration deadline for such companies in the UK, the FCA has given itself some room to continue assessing the practices of companies in the industry while still allowing them to carry on operating.

An Ever-Changing Landscape

The crypto industry is a new one, so it has been difficult for regulations to keep up with its rapid growth. The FCA is constantly trying to adapt its practices to an evolving business world, however. As a result, many businesses have to comply with regularly changing regulations, which can be confusing.

Scott Roberts offers FCA compliance and strategic advice for companies that are often struggling to keep up with the ever-changing expectations of the FCA. This could be a valuable resource for many companies, especially considering that comments from the regulator seem to indicate a commitment to changing how the FCA operates.

The pandemic has exposed some of the issues present with the current regulatory practices. To help counteract this, the chairman of the FCA has stated there will be changes to how it operates. While this will ultimately lead to a better standard of protection, it will undoubtedly cause difficulties for those running companies as the rulebook is changed.

It is, therefore, not only crypto companies that will be struggling to keep up with regulatory changes but businesses across a wide array of industries. There is, however, a distinct focus from the FCA on the growing crypto industry, and the regulator will continue its efforts to ensure that it is safer for those investing in it. However, whether there will be a push from crypto companies to register remains to be seen, as few have done this so far.