Trump Drops Hundreds of Places in the Forbes Billionaires List

US President Donald Trump has slumped on the annual Forbes Rich List, dropping 222 places from last year. The fall comes as his estimated worth drops from $3.5bn to $3.1bn.

According to Forbes, who publishes their much-anticipated list of the world’s richest inhabitants every year, the drop was due in part to falling revenues at Trump’s golf courses, along with a noticeable drop in the value of central New York property values.

Although one might expect the news to be troubling to the President, he is still one the world’s richest men and the leader of the world’s most powerful country, so perhaps it won’t cause him too many sleepless nights. Trump may be more troubled by the repeated criticism of his leadership skills, as well as continuing controversy around his relationships with Russia and China.

In sharp contrast to Trump’s falling fortunes, Amazon founder Jeff Bezos – number one on the Rich List – saw his fortune grow from $39.2bn last year to an incredible $112bn. Such an incredible rise over the course of a year has seen him topple Microsoft’s Bill Gates, whose estimated wealth sits at $90bn. Considering Gates has topped the Rich List for 18 out of the last 24 years, knocking him off the top spot is quite an achievement.

The US continues to top the list of billionaires by country, with 585 in 2018. In Europe, Germany boasts the greatest number of billionaires, with 123.

5 Tips to Create an Effective Portable Trade Show Display

Custom trade show display companies like ExpoMarketing believe strongly that participating in a trade show could be useless if you don’t prepare adequately. Trade shows can be exciting for your business or trade, it can also be equally daunting especially when you don’t have an idea on how to actually manage a trade show display. It’s understandable to get anxious. Thus, it’s always a good idea to ask or research ways to make your display successful. According to tradeshow experts, you’ll only have to follow the basic rules. Here are 5 simple tips for you:

Tip #1: Pick Appropriate Accessories

It’s exciting and fun to decide on the accessories to bring. Ideas may come rushing in, making it harder for you to select the final look of your creation. However, one way of narrowing your choices is to stick to your niche and consider your display space. Once you’re aware of these, you’ll be able to select what to bring without affecting the area. Basically, your theme should be congruent to the designated space. Should you get bulky materials? Are you in need of tables and chairs? Will your mascot be able to advertise and move freely?

Tip #2: Choose your Colors Wisely

For trade shows, a default background color of grey, black, or white is mostly used. Thus, it’s up to you to fill in your chosen colors. It’s like a blank slate. You’ll have full control when you start to beautify your display. More importantly, you should always include the colors of your brand, business, or trade. As long as the final look of your display is visually pleasing, you’re likely to succeed.

Tip #3: Create a Balance

Since trade shows often have a space limit, you’ll need to think hard about what design and accessories to bring. Don’t dwell too much on this idea. Just bring what is necessary. What’s important is that you will create a balance. Hence, avoid overcrowding the area. Make sure that there is a fair amount of small and bulky items in your booth. In this way, you’re making a balanced display that is pleasing to the eyes.

Tip #4: Display a Clear Message

The aim is to let the crowd instantly identify what your products and services are about. Creating a message that would give your viewers an understanding of what you offer is crucial. However, this is not hard to do. By strategically choosing your wording, font style, and even the number of words you include, you’ll be able to create an effective message.

Tip #5: Enhance your Booth

Anything that you think is beneficial to your booth should be added. Include light fixtures, music, LCD screens, and even models! The key is to create a booth that is lively so that you’ll attract more customers.

In your upcoming trade show, focus on applying what is necessary and apply these tips. With these, you’ll definitely see a huge difference. Trade shows aren’t that hard to organize, so you’ll surely be able to achieve this.

How EDI Providers Assist SMEs to Improve Their Efficiency

The challenge for any small or medium-sized business is to constantly find new ways to increase their bottom lines. In the end this can only happen because of two factors. The first is to increase sales which comes from selling more of a product or service, selling the same product or service at a higher price, or selling additional products and services.

The second way any SME can increase his bottom line is to lower costs.  Cost lowering can happen anywhere within the company, because any cash outflows directly impact the bottom line. However a company must be careful when seeking to lower cost, and make sure that cost lowering happens as a result of efficiency rather than the company losing valuable resources that are important to producing sales.

When an SME can both increase sales and lower cost, it is thought to be a very special company. Companies that can accomplish this feat always have a similar approach to operating their businesses. They will incorporate efficiency strategies and processes and engage companies like EDI providers who supply tools that are proven to consistently increase a company’s bottom line.

The solutions for productivity growth, will almost always be the same, and they will involve utilizing software and computer technology to both increase sales and to improve efficiency. In these efforts, companies can utilize a range of different types of software. One of the most effective tools is electronic data interchange software.

Electronic Data Exchange

Electronic Data Interchange or EDI is an outgrowth of the need for businesses to improve the efficiencies needed when communicating with each other regarding transactions between the two companies.  Today, EDI typically encompasses the exchange of common business forms and documents between two or more organizations utilizing a connected machine-based communications and archiving system that will generally be housed in a desktop computer.

Companies will utilize EDI to exchange status reports, bills of lading, purchase orders, invoices and shipping documents. Electronic Data Interchange can be performed in a number of ways, but today is most often performed through desktop computers. The industry has vastly improved efficiencies in a number of industries including healthcare, home and automobile purchasing and e-commerce.

Although the technology can be used to replace much of the paper associated with transacting business between two companies, the primary reason it has become so prevalent is because it decreases the time and error rates associated with manual data input. By automating much of these processes, companies can become more efficient and implement “just in time” strategies that save costs and vastly improve efficiency.

How EDI Software Works

The process is that documentation is sent between two computers that each have ED software and data is converted to specific code and then converted back to readable text on the receiving end. There are two common forms of translation for Electronic Data Interchange, a machine to readable format that creates a printed report, and the automatic translation of Electronic Data Interchange into Enterprise Resource Planning (ERP) software or an accounting system.

The system typically requires dedicated hardware for it to be its most effective and for those businesses that send lots of the type of data it can make more efficient, you will definitely need to buy a dedicated hardware system. However the system is infinitely expandable on the software side providing support to your company no matter how much or fast you grow.

6 Types of Reviews that an Online Reputation Management Company Pays Attention to

Everybody knows the impact online reviews can have on their business. Consumers today know exactly how to use the internet in order to find out whether a company or product is worth their custom or not. This is why it is also vital that all businesses sign up with an online reputation management company, who are the true experts in handling complaints and reviews.

What an Online Reputation Management Company Has to Deal with

The impact of online reviews has been well-documented. For instance:

  • A Yelp rating rising by just one star can lead to a 5% to 9% boost in revenue, according to a study by the Harvard Business School.
  • A Bright Local study has shown that 84% of people believe what they read online, trusting reviews as much as personal recommendations.
  • A Moz study showed that at least 66% of all purchasing decisions are influenced by online reviews.

None of the above is shocking anymore, but rather present simple facts. What is new, however, is that there are now different types of reviews, and that is something a good online reputation management company knows how to deal with.

Different Types of Online Reviews

  1. The Skeptical Convert. These are people who didn’t intend to purchase with you but did so anyway and had a good experience. This is a very positive type of review.
  2. The Praiser. Positive reviews are always good, but some people like to praise a certain element in particular, such as the price, the service, or the product. These reviews are more valuable than generic reviews.
  3. The Recurring Criticizer. These are customers that have had an issue, perhaps had it resolved, and then experienced the same issue again. It is also possible that the same issue is reported by multiple people. You must pay attention to this and use it to improve whatever the issue is.
  4. The Industry Expert. If a recognized industry expert says good things about you, that is wonderful, but the damage they can do by leaving negative reviews is much bigger as well. Some people only read expert reviews, so pay close attention to what is being said.
  5. The Influencer. This is someone who posts reviews on their social media pages or blogs and who has a huge following. They may not be an expert, they simply have a huge reach of people who trust their opinion.
  6. The Off-the-Wall Reviewer. This is the review that doesn’t make sense at all. It is usually written in poor English and, once deciphered, is not relevant to your product or service at all. This can be because of a simple confusion, whereby they meant to leave their review about a different company, or it can be a malicious attack. Consider this in your response.

A final thing to remember is that there are a lot of people who don’t read individual reviews at all. They simply look at your overall rating. This is why, even if the review is clearly a scam or not addressed to you, you must still take action, because a one star review will significantly impact your rating as a whole.

Receivables Performance Management Reviews How Outsourcing Can Help a Business

Lynnwood, Washington is home to Receivables Performance Management, LLC, a business that first opened its doors in 2002. Since then, they have redefined the world or performance management, accounts receivables, and more. Now, Receivables Performance Management reviews the importance of outsourcing these elements, and how they can help a business.

Receivables Performance Management Reviews Outsourcing

Businesses should be able to focus on their own niche, be that research, investing, retail, management, industry, or any other field. Small business owners, however, have to be everything at the same time. They have to be their own marketer, customer service agent, product developer, salesperson, and accountant. Few people are able to manage all of this, which is one of the key reasons why outsourcing to an experienced company like Receivables Performance Management is so important.

Research has shown that the key benefits to outsourcing accounts management and accounts receivable include:

  • That when a company has healthy accounts, they are healthier themselves. There will be more people interested in investing in them, and more money will be available for investments as well. If accounts show that it is common for bills to be seriously past due, it could mean that it is not possible to pay bills, meet payroll, or purchase inventory.
  • There is a lot of work involved in the management of accounts receivables. When someone makes a purchase, they are sent a purchase. Each month, a statement is generated. The invoice is then paid, perhaps through a check, after which the account is updated. This is quite labor intensive, often far more so than the price of the service or product they purchase in the first place. Outsourcing, therefore, can be a cost-saving exercise.
  • Outsourcing to a professional company means that the entire process becomes more efficient. Not just that, companies like Receivables Performance Management have access to various professional tools. They hire CPAs, professional bookkeepers, collections assistants, and so on. They have the software required to fully automate the system of invoicing customers and running statements, thereby greatly increasing productivity as there is no more need for any manual generation. This means, again, that they can help save costs by reducing workload.
  • When accounts receivable is outsourced, it means that other employees can do what they were actually hired for, and ensure the business is able to grow. It doesn’t matter whether it is marketing, product development, sales, customer service, or any other field, it is important that all of those areas receive full attention. This is what helps companies go through lean cycles.

When you outsource to a company like Receivables Performance Management, LLC, it ensures businesses are protected from those customers who find it difficult to pay. Professionals know how to be firm but fair with these types of customers, protecting the relationship will at the same time ensuring payments are made. Not every delinquent payer is simply trying to get away with not paying. In fact, most simply have genuine difficulties. A professional company can differentiate between the two.

Scott Tominaga – The Most High Flying Jobs in the Financial World

With the stock market lying and no top in sight, the financial industry is hiring in droves. In fact there is a shortage of quality employees for a number of high paying jobs. Simply put, the schools cannot graduate young people fast enough.

The best advice from financial industry professionals like Scott Tominaga, to those who look to enter the financial industry, is to It is always pick a career that represents something you love doing, no matter the money you might receive.

You never want to wake up one day with the feeling that you have chosen the wrong career. But with that said, having the money you generate from a high flying financial career can make it easy to enter a new career or even start your own business.

Here are some career options for you to consider if you are thinking of taking the plunge into the financial industry and you want to be a high flyer in the industry.

Broker – Stock, Options, Commodities

Brokers are comfortable working in a fast paced industry that is all about handling large amounts of money being moves in one direction or another. The job of a broker is to pick the best opportunities for clients to enter. The broker will also tell a client when they think that it is time to sell also. Brokers buy and sell stocks, options, futures, or commodities. They handle large amounts of data continuously and the smart ones have a system that is proven over time.

In order to be a great broker, you need to have a sharp mind, great attention to detail, a passion to understand the financial markets, and to be tireless. For those who succeed and build a client base, there is a lot of money to be made. You must remember however that you will essentially be running your own business so expect some lean times in the beginning.

Hedge Fund Trader

In terms of the highest-flying job in the financial world, hedge fund trader might be it. This job requires that you move large amount of client’s money quickly in and out of trades Hedge find traders have their own strategies and use proprietary software to execute split second trading in markets around the world. They have no passion about any particular stock or company, they are only interested in the market moves of the stock allowing them to profit from trading. Because of the way they trade, it does not matter whether the market is going up or down, they can win either way. Hedge fund traders take big risks and receive big rewards when they bet right.

The requirements for the job is a great understanding of the markets and a voracious appetite for knowledge about the markets. You also need to have an almost six sense about the way economies are moving and an ability to quickly take advantage of what you know. Finally you must be fearless. And of course you have to have a love for making money because if you are successful at this job you will be rich.

8 Ways CRM Software Benefits Ecommerce Businesses

The classic style of customer resource management is now terribly inefficient. Files and lists with phone numbers and emails of customers will hardly keep track of all the important analytics needed in ecommerce business today. Online retailers need a good way to follow all customer trends while clearly detailing buying and selling activities. This is where the benefits of adequate CRM software can help. The software provides a full suite of analytics that are available all associates. Using CRM software can boost profits and cut losses significantly.

Consumer Trends

The customers are the consumers and you have the products and services to fit particular needs. This is your market with online businesses. Though it is possible to get a light amount of data from different sales channels, clear communications and analytics are not available for the whole scope of your sales in the actual marketplace. Collecting and sorting data from all your different channels on your own is not efficient and it is tedious.

CRM software is used to track all sales channels and activities within them. This provides you with a clear view of all sales trends in light of the competition so you can stay ahead. Proper analytics show you exactly where your sales and losses are while you consider customer appeal and trends. The software allows you to view buying trends, returns, where your leads are coming from, conversion rates and much much more.

Strong Analysis

Ecommerce can be a tough area to keep up with in this digital era. When you have the software to perform deep, multi-layered analytics, clear information is right in front of you. This will improve your buying and selling activities and help you create greater appeal to customers through different sales channels.

For example, you may be running several online markets at one time and each has its own unique customer trends. If you had to keep up with all of this data on your own the tasks toward high success would be almost impossible to accomplish. Even in the rare instance of having unique products and services with low competition, competitors will arise. Having CRM software in place will keep you prepared for all market changes.

Team Cohesion

Online businesses count on constant collaboration between associates in a team. The core team needs to have access to the analytics in order to remain cohesive and on target with objectives. With a CRM, your teams can consistently communicate with each other without having to rely on other chat services or group scheduling sites.

Tag all team members for sharing of trends and analytical data. This puts more heads and ideas into the business. Boosting the effectiveness of ecommerce has never been easier since the development of analytical CRM software.

Project Management

Although CRMs are not designed to be a full-blown project management tool, they are very efficient task management platforms. And a task management tool is vital for any online retail business. Using a CRM, tasks can easily be created based on analysis of trends, sales, and more right down to every detail.

For example, if you are bringing in any independent contractors or new associates, it is best to track everything with ecommerce CRM software specifically. In this way, all communications and data are seen by each member of a team. Additionally, availability of certain information to particular parties can be limited to avoid conflicts of interest while outsourcing tasks.

Supporting and Building Leads

Customer trends are one thing but the success factor with online sales is going to be the existing leads and the nurturing of new leads. As we all know, there are numerous types of leads. CRM software uses deep analysis to provide relevant information so you can close sales and build new leads within various sales channels.

This builds strong customer relationships which will stand out to buyers. When your business is more efficient, it is easier to build a strong repeat customer base. At the same time, using the analysis of customer trends will allow the creating of fruitful sales campaigns with all sales channels and leads.

Trends and Sales

Without ecommerce CRM software, keeping track of sales trends through all of your online sales channels would be difficult. Manually comparing flow charts and lists of statistics will lead to a few effective sales moves at best. When dealing with multiple sales channels, good software will compile the comparisons through analytics. This provides you with up-front information to follow trends in real time.

Each sales channel will have its own following with some cross-over customers. CRM software shows you results from buying and selling, specific customer returns, preferred methods of delivery, customer information and buying activity, and much more. With this clear vision of sales trends it is simple to cut out low-selling products and meet new market demands. The data collected can then be shared with associates for creation of more effective sales campaigns.

With the right solution in place, you can connect all your sales channels, regardless of whether or not you may be selling on Amazon, a standalone store like BigCommerce or 3dcart, or even if you need something that works in tandem with all of these like a multichannel eBay CRM software solution – there are competitive options available to help you improve the customer relationship every step of the way.

Customer Returns

Overlooking the importance of data on product returns from customers is a poor move in ecommerce. When software is available to present data on all returns you can find the reasons for the returns and do what needs to be done to amend the issue. For example, if certain products are being consistently returned, that could be an issue with parts or suppliers. Identifying the common returns and the specific customers who return items frequently will help with developing plans to minimize returns.

There will always be some product returns. This is to be expected with any market. When you know which customers are habitually returning items, it is easy to improve customer relations and have contact in order to understand the issue. Sometimes it may present better gains overall and allow you to create a better inventory.

Ecommerce CRM software empowers online retailers with the ability to improve sales margins significantly while following all trends. Then all of your sales channels are clear for planning and marketing.

Painless steps to curb your expenditures in your business operations

The world in which we live at present is run by uber-rich entrepreneurs, mega corporations and internet gurus who invested all their money, efforts and time in entrepreneurship. Almost all the products that we use in our homes have been invented by someone who had sacrificed his savings for starting a new business. There can be no second thought when we say that there are mainly two different ways in which you can build a lucrative business. The first way is to boost sales and secondly it is to save money.

Regardless whether you form an S-Corp or an LLC, we have queried few small business owners about the way in which they saved money during your business operations. Here are few creative ideas that you can follow in order to save your funds.

  • Keep a tab on prices and buy in bulk

There are many expert businessmen who love to save dollars on office equipment and other supplies, like from everything like papers, pens, desks, computers, chairs and electronic software by purchasing at a time when there are huge discounts on the items. You may use tools and apps like to get the timely updates on prices or you may also try Slice App to track down the packages and reap benefits of drop in price.

  • Content marketing can be done DIY

If you think you have more time and money, you may choose yourself at the content marketing expert. To begin with, you can start off with influencer marketing and find out those experts within your industry by taking a look at publications, interview them through video, email or phone and publish their interview. In case you’re not a good writer, you can curate few articles and post your comments on them.

  • Negotiate with the suppliers again

Just as your junk drawer accumulates lots of unnecessary stuff, similarly you should take a close look into all the operational expenses to check where you can free up money. Call on each of the suppliers and try to negotiate better rates again. You can save a average of 25% in supply costs if you follow this step.

  • Eliminate all services that keep recurring

You must have got several subscriptions which you might not have been using anylonger. Experts recommend you to check your credit card statements so that you get to know the monthly flush out of your dollars and the categories which need to be chucked off. With a few mails and clicks, you will save around 10% or more than that in overall costs.

  • Taxes should be automated

Time can be your most valuable asset as you’re a business owner. If you can automate your business taxes, you can save enough money which can later on be devoted towards growing your own business. You can use the saved funds on marketing and other programs.

Therefore, if you’re ready with your business idea, you can also take a quick look at Incfile reviews and go through the customer reviews of the company. They offer you the most hassle-free way of starting a business.

5 Worthy reasons behind why you shouldn’t be a registered agent of your own business

While you may find it extremely tempting to play the role of your own business’ registered agent, yet the truth is that this is not something desirable and recommendable. No, it is not at all a good idea. If you ask a financial advisor whether or not you can become your own agent, the answer is definitely yes (because you can become if you want to) but you probably shouldn’t become one.

Are you wondering about what registered agents are? Well, a registered agent is an agency or a person whom your business appoints for receiving legal notices on behalf of your corporation or your LLC. Such important documents may include state correspondence, service of process and notifications regarding federal and state taxes. You may think that acting as your own registered agent will be a cheaper affair but let us tell you about the few reasons you shouldn’t think this way.

Reason #1: The agent should have a physical address

Regardless of the fact that the registered agent is for an LLC or for a corporation, he needs to have a physical address in the state where the company is operating. A private mail service or a post office box won’t just fulfill such a requirement. There has to be a physical office where people can reach to deliver documents.

Reason #2: You might not feel like using your residential address

When you think of being the registered agent of your business, you might have to end up using your residential address and this process can make your home address go public in business records. This can even increase privacy concerns and your address might become available to the marketers and you might start receiving endless junk mails. Any angry litigant could even reach up to your house.

Reason #3: Agents need to maintain their presence during business hours

Registered agents require having definite business hours so that they could accept all services of process. Now since you are the business owner and you also play the role of a registered agent, you might not be able to maintain regular business hours. This is when you may need to hire a third-party registered agent so that he can remain full-time dedicated.

Reason #4: You require having an agent in every state

You require appointing a registered agent in all the states where your company is operating. Having a physical office in each location would rather become a costly affair. When you hire a registered agent service, you can effortlessly appoint an agent in every state so that he could properly handle your business from all locations.

Reason #5: You wouldn’t ever wish to miss any vital notice

Paying just a nominal fee every year for the services of a registered agent can be worth the time he invests. If you work as your own registered agent, you might miss some important documents.

Therefore, whether you form an S-Corp of an LLC, it is always better to hire the services of a registered agent to avoid the above mentioned issues.

4 Possible risks that every new entrepreneur will be subject to – Staying aware of them

As long as entrepreneurship is concerned, risk taking is almost synonymous. In order to start your own business and to support it, you will have to compromise your own career, your mental and your personal finances will also be put at stake. For majority, the idea of having to make your decisions and being your own boss is worth it. Especially if you’ve been working in a day job and striving to move up the salary ladder, you’ll love it when you have everything to your own.

Nevertheless, becoming a successful entrepreneur is not a bed full of roses. You will definitely be subject to different types of risks and challenges. No matter whether you form an LLC or a simple partnership, you should be aware of the risks. Here are some.

#1: Risk of choosing the right products

Decide which kind of product you’re going to sell. For a budding entrepreneur, this seems a rather simple task but the capability of explaining what your service and product is all about, what sorts of issues it solves and why it is worthy to invest in your product is harder than it actually seems. If you aren’t able to do that, you shouldn’t expect people to pay focus on your product, leave alone investing dollars.

#2: Risk of knowing and understanding the markets

The foremost thing is to know your customer in and out. Why do they buy products related to yours? How do they buy related products and from where do they purchase them? You have to do a comprehensive market research thoroughly so that you may be able to identify the routes of the market and also determine the success of your business. If the risks of the market are favorable for you, you can see your business succeed.

#3: Risks of funding sources

Nowadays, the first-time entrepreneurs are lucky enough to leverage different tools like Indiegogo and Kickstarter as they help in crowdfunding to receive money in their bank accounts. Besides these options, there are family members and friends, traditional VCs and angel investors who can also turn out to be fertile resources of funding. You have to ensure identifying the main business schedules and milestones which clearly recognize the tough times of your business.

#4: Risks of setting up the best team

There isn’t any way in which a single person can help you eliminate all risks. This is where the question of building an effective team comes in. This team will work as a start-up incubator and prepare for all kinds of challenges. The team should also have sufficient good ideas to build a product or service, introduce it to the market and also maintain successful growth.

So, now that you know the ins and outs of the risks that any novice entrepreneur will face, you should prepare yourself in the best way so that you don’t fall short of resources. Read the Incfile reviews if you care to start a business without much hassles.