Month: December 2022

You’d be forgiven for looking at cryptocurrency investing advice with a pinch of salt the size of the moon. In fact, you wouldn’t need to be forgiven at all, as despite confident exchanges like Binance and Coinbase managing to host customers, offer smart products, and even levy an opportunistic alternative to the conventional stock trading investment efforts, the collapse of FTX has added a big question mark over the feasibility of crypto.

As more and more government figures call for heavier regulation of cryptocurrencies, and certain markets in flux, it’s worth considering if cryptocurrencies are worth your investment in 2023 and beyond. Of course, the value of crypto is speculative, and largely based on speculation, meaning that I cannot recommend or encourage you to invest in something that might not pay dividends.

Luckily, no matter your own thoughts on crypto, there are a few interesting insights you may wish to consider, as the technology itself remains fascinating, cutting-edge, and interesting to interact with. With that in mind, let’s consider the virtues of how crypto can be used outside of a speculative asset that may or may not be traded for profit:

Crypto Can Be A Reliable, Anonymous Payment Method

Being able to make payments with a cryptocurrency is one of its most obvious advantages. It can be easily transmitted and accepted as payment for products and services online because it is digital and decentralized.

Cryptocurrency payments are increasingly widely accepted by internet service providers and merchants, making transactions quick and safe. Even high end stores are accepting it. It’s an excellent choice for those without a bank account or credit card as well as for those who reside in nations with unstable currencies or high inflation rates – or of course to purchase goods from abroad if regional pricing makes items harder to invest in.

Lessening of Transaction Fees

A further advantage of using cryptocurrencies as a payment method is that they frequently have lower transaction fees than more established payment options. It can be less expensive to conduct transactions thanks to its decentralized nature and freedom from the bank and other financial institution fees. Just be mindful that the exchange you use may have its own fees to consider.

That said since traditional fees can accumulate over time, this might be especially advantageous for small firms or people who do several online transactions.

Quicker Transactions

Cryptocurrency transactions may also be quicker than conventional payment methods, in addition to having reduced transaction fees. It can be transmitted and verified almost instantly without the use of banks acting like middlemen.

For overseas transactions, which can take days or even weeks to clear using conventional means, this can be extremely helpful. These transactions may be done considerably more quickly using bitcoin, making it a more effective choice for both businesses and people. For instance, if you’re a small business outsourcing the services of subcontractors, you might agree to pay them in cryptocurrencies.

Enhanced Security and Privacy

While the anonymity of cryptocurrencies has generated controversy here and there, it can also be advantageous for individuals who value security and privacy. It can give another layer of security to online transactions because it isn’t connected to any particular person or financial institution.

As it can make it more challenging for hackers to obtain personal information or steal money, this can be especially helpful for those who are worried about identity theft or online fraud. It may also be an excellent choice for those who want to do private business, such as political or charity contributions. If you want to purchase from a new website for the first time, you might use crypto to protect your personal financial information using legacy systems.

Understand The Philosophy

You don’t have to be a believer or advocate of cryptocurrency to see how some of its foundational principles can have value. A currency that remains entirely peer to peer, is transparent thanks to the public blockchain, and can create non-fungible digital assets is always interesting to consider, even if you think it will have little impact or will ultimately be subverted by digital currencies “printed” by the federal government.

If nothing other than an intellectual exercise that asks you to think about the development of the digital space and how innovation is shifting market trends, crypto serves a purpose, and was always an inevitable measure in the story of the internet. You can read the Satoshi white paper to get started.

Have Fun With A Blossoming, Ever-Shifting New Technology

This might not be a useful benefit, but let’s admit it, using a cryptocurrency can be entertaining. It’s amazing to be a part of this cutting-edge technology, which is still being researched and improved.

Additionally, there is always a chance to benefit if the value of your Bitcoin rises. It’s similar to a digital treasure hunt, only you’re mining for digital currency this time. You don’t have to invest your life savings or hold currencies in your wallet for weeks at a time, that’s completely optional. You might just dive into crypto here and there because it’s fun, or because you want to buy some now, wait a few years, and see what it’s worth from your private wallet.. Alternatively, you may simply purchase some on an exchange and hope for the best. 

Some coins seem to have fun as part of their operational development, for instance this Binance guide How to Buy, Sell, and Trade Dogecoin: Helpful Tips can provide you a primer on how a meme created a valuable coin espoused by top industry figures.

With all that in mind, it’s important to remember that cryptocurrency is not a test you have to pass, or anything you have to interact with. Like any developing technology and market force, it is being worked out over time, and as regulations come, it gains further function, and perhaps some people invest and benefit from doing so, this kind of blockchain technology could become more central. Until then, keeping an interested eye on things can help you put crypto in its right place – and you get to define where those borders are for you.

In the long run, you’ll be able to make wiser, more informed decisions related to this enterprise.

If you’re running a restaurant business, you know that your number one priority is attracting and keeping your customers’ attention. The quality of the food is a very close second. The trends and expectations of customers are ever-changing, but it’s the responsibility of any savvy business owner to be able to keep up with them. As such, it can pay to keep ahead of the curve and to look at how you can modernize the experience in your eatery, regardless of whether you’re running a fast-food stop, a cozy cafe, or a premium restaurant.

Is it time for a decor change?

It might not be the most revolutionary idea out there, but in time, your establishment’s look is going to become dated. You want people to feel welcome and happy to be there and this can clash with a sense of being in a space that hasn’t been keeping up with the times. You could work with a fit-out team that specializes in the dining industry to help you refresh your look, all the way from the branding on your menus and displays to the choices of furniture, fixtures, and lighting. If you’re really renovating and changing the look, then you might want to tie it into a relaunch to really capitalize on the change.

Think about the Instagram experience

This is something that you might think counts within your decor change but there are a few areas in particular where not only should you think about how good your restaurant looks but should also consider how well it photographs. Instagram culture has seen a lot more people snapping pics of their plates than ever before and putting some extra focus on creating a really photogenic dining space, with great lighting and details to frame those photos can give your restaurant a little viral reach. Some restaurants will even have specific areas that are designed to be captured well in photos so that their eaters can pose by them for a few snaps. Don’t underestimate the power of marketing through Instagram and social media by way of your own customers.

Get smart with your displays

Many eateries go with the traditional menu, hand-delivered to the customers when they sit at the table. However, for some eateries, such as cafes and fast-food places, the menu board over the counter has always been a classic, allowing multiple people to peruse and choose what they want to eat while in line. Nowadays, with the potential for menus to change, especially with seasonal specials, you can make yours a lot more convenient by opting for a digital display. The digital menu boards price point has been dropping as the technology becomes less expensive and more widely adopted, so even smaller eateries can typically afford them without much hassle. They do a lot for making your menu pop out and allow you to customize your display to enhance your branding.

Ordering through the Cloud

Does your business do pick-ups or deliveries? Nowadays, the fact that there are food businesses that don’t take orders online and only rely on phones is something worthy of shock. There are plenty of ways to get your business to take orders online. You don’t even have to establish your own website or app. However, creating your own branded and curated experience where you don’t have to share space with other eateries does make it more likely that you’re going to be able to keep more of the orders that come your way. In a post-pandemic world, people are a lot more likely to feel safe when they’re able to digitally order their food from a distance.

Manage your inventory better

Of course, not all of the improvements that modernization can bring to your restaurant are supposed to be just for the benefit of the customer, either. They can help you manage it more effectively, as well. If you keep track of food and beverage stocks routinely, then you can make it a lot easier with the help of automated inventory management software, especially one that’s designed specifically for restaurants to use. You can reduce your waste and make sure that you’re able to order ingredients in time by being able to check at a glance how much you have of everything. You do need to train your staff to update the inventory every time they take something out, but that can quickly become routine.

Offer customer service online

Restaurants aren’t just a business dedicated to serving up food. They’re about providing a service, and your ability to do that will reflect how customers feel about the restaurant as a whole. Even great food can’t save a customer’s night from being ruined by some awful interactions with your team. Of course, it’s not always the team’s fault. You can create the environment and conditions for smoother, speedier customer service in a variety of ways. One such way is to offer customer service online, be it through your site with an on-site chat widget that your staff can respond through, or through social media. You can nip some potential issues in the bud before the customer even visits the restaurant.

Make payment easier

Just as you can smooth the customer experience before they arrive at the restaurant, you can do the same on the way out. While you shouldn’t get rid of the cash register just yet, it is important to recognize that most customers are paying via card nowadays and, what’s more, most of those cards have some contactless options, too. Allowing customers to tap their card on a virtual point of sale can allow them to pay for their meal much more quickly, which adds an extra level of convenience to the trip to your restaurant since they don’t have to stand around quite as long.

With the tips above, you can make sure that your eatery keeps its place on the cutting edge. Of course, this has to be complimented by good ambiance, food, and service, but together, you will have a winning package with these tips.

Over the past year, many people have decided to leave employed work and start up their own businesses. This was often the result of losing work through the Covid-19 pandemic or looking for extra means of income through the cost of living crisis. Of course, when you start running your business, you’re going to need to make sure that you keep track of all of the different processes that go into keeping things up and running. Here are a few top tips that will help you to get your business off to the best start!

Product Design and Development

The first process you need to invest time, money and effort into is product design and development. If you’re running your own business, you probably have an idea of what you want to sell. This is good, but you need to make sure that it’s viable and profitable too. Take some time to design your product, determining how it will need to sell for in order to generate a profit. Speak to your target demographic through market research and see what improvements they’d like to be made to the product and to ensure that they’re willing to pay enough for a profit margin.

Manufacturing

If you decide to go ahead with your product, you will need to put it through a manufacturing process. The majority of small businesses will outsource this process, as it means you don’t have to invest in expensive machinery, equipment, commercial space or staff to operate the machines. Instead, you can hand the work over to professionals who already have everything needed. Make sure to read reviews and to use companies that have good reviews. Then check in regularly to ensure that production is going to the agreed process.

Order Fulfillment

Of course, you need to make sure that you can fulfill your orders once people start ordering your goods. This is where a good order fulfillment process comes into play. Order fulfillment will take your items from the stockroom, package them up, label them and get them on their way to your customer. Nowadays, people are relatively impatient, as they’re used to fast order fulfillment and delivery through major companies and couriers. It can feel difficult to keep up as a small business, but it’s safe to say that nobody is expecting same day delivery from a start up. Instead, aim to get items to your customers in 3-5 business days with the option of next day delivery for an additional fee. This is pretty standard and expected when shopping with a small business. Many small businesses take care of order fulfillment themselves, but if you experience increased demand, you’ll quickly find that you need support. Outsourcing may be good at this point.

Data Driven Marketing

To maximize sales, you’re going to need to engage with marketing. Marketing is what allows people to know that your product actually exist. It can raise brand awareness, encourage people to make purchases and help your products to stand apart from the competition. At the end of the day, it’s all good and well having great quality products at a great price, but you’re only going to experience success if you make good marketing decisions. Generally, it’s best to use freelancers or hire a team include a copywriter, graphic designer, product photographer and videographer. They will be able to create high quality content that shows your products off in their best light. Then, you need to focus on BI. BI stands for business intelligence and it revolves around the concept of using data to make decisions. Data regarding what marketing strategies and campaigns work – and which don’t – can be tracked in sheets using Power Query. Looking through grouped internal and external data can help you make informed decisions that result in stronger campaigns and drive sales.

Customer Service

You’ll find that your customers have questions to ask about your products and services, ranging from product details to shipping queries and returns questions. You need to make sure that you have a good customer service team ready to listen to these queries and answer them. You should provide as many means as possible for people to get in touch with your team, from instant messaging options to email, phone and more. Train your team fully to ensure that they know how to maintain your company tone of voice and answer any FAQs.

Each of these steps can help you to give your business the best possible start. See which work well for your business and invest time, effort and finances into them. You’ll reap the benefits in no time!