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How Often Should you Post on Social Media?

Are you using Social Media in your business and wondering how often you should be posting on different platforms? This infographic from Constant Contact will break it down for you by platforms


15 Financial Ratios for EVERY Start up Entrepreneur



As an entrepreneur sometimes you are required to be everything in your business especially when starting out. Financial management is always a challenge when working without an accountant. Ratio analysis is a tool that allow you to trend in your performance as well as compare how you are doing financially compared to others in your industry.
Here are 15 Financial Ratios that you can use to manage your business when starting up


Profitability Ratios
Gross Profit/Sales = Gross Profit Margin
Operating Profit/Sales = Operating Profit margin
Net Profit/ Sales = Net Profit Margin
Net profit/ Owner’s Equity = Return on Equity
Net Profit/Total Asset = Return on Assets

Liquidity Ratios
Current Assets/Current Liabilities = Current Ratio
(Current Asset- Inventory)/ Current Liabilities = Quick Ratio
Working Capital/Sales = Working Capital Ratio

Activity Ratios
(Account Receivables*365)/ Sales = Account Receivables Days
(Inventory*365)/Cost of Goods Sold = Inventory Days
(Accounts Payable*365)/Purchases = Account Payable Days
Sales/Total Asset = Sales to asset

Leverage Ratio
Total Liability/Owner’s Equity = Debt to Equity
Total Liabilities/Total Asset = Debt Ratio

(Net Income+depreciation)/Current Maturities of |Long Term Debt = Debt Coverage Ratio

How to Optimize Your Business Facebook Page for Success

Optimize Facebook Pages


Every business, especially small and medium size businesses should have a fully functional Facebook page. However having a page is not just a simple as it seems every Facebook Page needs to be optimized for success especially when looking to undergo serious Facebook Marketing.  The steps to optimizing your Facebook page are as follows:

·         Understand the difference between your Profile and your Page- Your profile is your personal space on Facebook where you add your friends and you can interact with them, you can only have 5000 friends. A Page on the other hand is where people can click like and become fans of your business and there are no limits to these, you must have a page to run Facebook ads, you can’t run ads on a Profile Page

·         Link your Facebook page and your Facebook Profile- In the about section of your Profile, you can select places you have worked. You can click edit your work and you’re able to add your work, in places, you select your Facebook Business page and enter your position. When someone goes on your page and they hover over your work, they can be taken to your Facebook Business page.

·         Have a Well-designed Cover Photo- Every business should have a cover photo and use your cover photo to tell others who you are and what you’re about.  You can show sample of your products or even promotions you are running at the time. The ideal specs for your cover photo should be 851*315 pixels. Your profile photo will cover a part of your cover photo, the lower left corner so this part needs to be kept clear to avoid covering any information.

·         Name your Page- This is important, your Page name should be your business name, not your personal name and this should tell your clients and potential clients who you are.

·         Enter information in about section- Your about section has different categories, and you need to full out these categories.  The about section is indexed by Google so you will want to use Keywords in here.  You can add certain links to different pages and websites you have in this about section as well. However you need to spend enough time and flesh out your about section.

·         Ensure your Private Messaging added- This will allow people to contact you, if you have messaging turned off, then go to settings and general, click messages edit and then click turn on. You need to ensure that you constantly check this section.

     Once you have your page optimized then you are ready to start generating traffic to it, also with a highly optimized page then you can now start engaging in Facebook Marketing.

10 of the wickedest Online Tools all Caribbean Entrepreneurs need to be using now

Online Tools for Caribbean Entrepreneurs



In the information age it is becoming much easier for Caribbean Entrepreneurs to start and run businesses even though they never had a formal business education or are unable to finance certain specialized business courses. Below is a list of the 10 best online resources that Caribbean Entrepreneurs Should be using now.

  •   Fiverr.com- fiverr is a resource where Caribbean Entrepreneurs can get anything done for 5 dollars. One might think, since its 5 dollars the work would be of poor quality, and depending on what you want done it may be of poor quality. You wouldn’t try to get a quality website built for 5 dollars. However for gigs such as graphic designs, articles, videos, desktop publishing, if you need a virtual assistant among many other services. Every Caribbean Entrepreneur should be checking Fiverr now to get things done.

  •    Asana- Asana is a free project management tool. This tool allows teams to communicate without the use of email. How cool is that? This is ideal for businesses where the team members are not in the same location or in the same country.


  •   Google Hangout- Hangout allows you to have face to face conversation online, you can record an interview with someone for free and publish it as a video on YouTube. Every Caribbean Entrepreneur should be using Google Hangouts and if you’re not download it immediately.

  •  Wix.com- as a Caribbean Entrepreneur in 2014, you must have a website, if you do not have a website or you can’t afford to pay to build one then Wix is for you. Wix is a platform where you can create free stunning websites to give your business a home online and a professional touch.


  •  Survey Monkey- Survey monkey makes it very easy for Caribbean Entrepreneurs to conduct market research. If you have a product idea and not sure whether it will resonate with your target audience, well create a survey on Survey Monkey and get people to give their feedback. This is one of the most efficient ways to get feedback from your customers and it’s free.

  •   Canva.com- Canva allows you to create remarkable visual graphics for your website or business social media pages free of cost. No design skills is needed, canva is easy to use and you can create top quality visual contents that can generate a buzz online for your business.

  •  Jing- This is an app from Techsmith, jus type Jing in the Google search engine and you will see it. Jing is awesome; it allows you to capture any part of a screen and save it as a picture. It also allows you to create videos that you can share online and the best part is Jing is free.

  •  MailChimp- Email marketing is alive and well and lots of Entrepreneurs in the US and Canada are having lots of success with email marketing. Caribbean Entrepreneurs should not be left behind, Mail Chimp is one of the simplest ways to manage your email marketing effort and it allows you to have up to 2000 email subscribers for free.

  • Evernote- Evernote allows you to manage your life and your business in an efficient manner. It allows you to capture data whether on your mobile device, computer or tablets and help you remember projects you’re working on in your business.

  •   Blogger.com /Wordpress- These two resources will allow you to build a blog for your business for free. Blogging is one of the ways that businesses are currently making their mark online. Caribbean Entrepreneurs should not be left behind with this. Create a blog and share valuable resources to your readers, you will benefit tremendously.


Do you know of any other online tools that Caribbean Entrepreneurs should be using right now?


3 Ways To Build Instant Credibility For Your Brands

Brand Credibility


One of the most talked about aspects of building a business as of late is that of growing your brand. There are millions of brands out there bombarding consumers on a daily basis and more coming in stream daily. It is important to understand how to properly brand yourself and your business so you can stand out among the noise and register in the mind of consumers. Having an effective brand can give you a major competitive edge over your competition.

Your brand is a combination of your promise to your customers and also what your customers and others think about you. However you are registered in the mind of people is very crucial because if you are trying to build a brand for being a modern and cool clothing company and persons think you are old fashion, your brand will then be an old fashion one despite you wanting it to be modern and cool. Hence the importance of protecting your brand and building its credibility.

It’s crucial for entrepreneurs to understand that there are three aspects to branding for success. They need to first cultivate their personal brand. People do business with people they know and trust. Branding your company is also crucial, in order to communicate your company’s culture, its values and its promise to customers. There is also a need to brand your products, do you want your product to be one that is cheap or expensive, good quality or poor quality, high end of low end. Branding your product will help determine your success.
Having a brand and not credibility is one of the pains that most entrepreneurs experience on a daily basis and I will share three simple ways that business people can build credibility for their brand

Getting testimonials from experts who can include influencers and celebrities- When an expert endorses the brand, it adds instant credibility to the brand.
This is great for adding instant credibility to a brand, many influencers whether on LinkedIn or Twitter and other social media platforms have huge followings. Many people don’t trust sales messages and would prefer to buy based on a recommendation from a friend or someone who they consider to be an authority on a certain topic. You can reach out to these influencers on social media and build a relationship with them, engaging them and this can prove beneficial to you in the long run.

The same applies with celebrities as they have huge followings, and people often are heavily influenced by their endorsements. Getting an endorsement from a major celebrity can add instant credibility to a brand. One of the problems faced by small businesses and entrepreneurs is that of not having the budget to pay for endorsements from celebrities. It is not nearly as difficult as people may thing to get endorsements and testimonials from celebrities. Sites such as Bookingagentinfo.com and IMDB Pro are celebrity databases they can use to get in touch with celebrities.
Once you can connect these people, you can turn them into brand advocates for your business and enjoy the success that major brand experience.

Through Content Creation and Curation- Another way that entrepreneurs and small business people can build credibility for their brand is through content marketing.
Content marketing involves sharing business insights and information with consumers without selling to them directly. This strategy can help build credibility for an entrepreneur and also establish them as thought leaders and experts in their field. Content marketing can take many forms including videos, infographics, blog posts, and articles. When people know they can come to you for insightful information without you trying to always sell them something, it becomes easier to sell them something. There are many mediums for creating content even if you’re a beginner. Canva and Pickmonkey are great sites for creating visual contents and the best part is that it’s free. There are many tutorials from outstanding entrepreneurs showing how to craft the perfect blog post and video creation platform such as PowToons will allow you to create outstanding videos for use in branding yourself.
While creating contents is great, content Curation, which is simply sorting through the vast amount of information available on the internet and presenting the best ones that aligns with your area of expertise and sharing it with your community. This can add credibility to your brand since people will constantly see you as the person or business that’s always giving them something without trying to get something in return. Scoopit and PostPlanner are both tools that can be used to curate contents and share them with your community on the web.

Setting up strategic Partnership with Established brands- This is a simple and effective way to build instant credibility for your brand.
Strategic partnerships are awesome because many entrepreneurs and small business may not have the resources needed to go out and build a brand from scratch. Marketing and advertising can be painfully expensive. Establishing strategic partnerships with established brands that share your values whether it is to host an event or getting an endorsement (see point one above) can prove very beneficial.
Partnering with other brands not only brings you credibility and exposure but increased revenues, customer loyalty and retention. To partner with brands it is important to establish a relationship with that brand, and connect the right people within the company. You can often use Twitter or LinkedIn to find and connect with influencers within the company.
You need to be genuine when trying to partner with another brand. You want to make sure you’re offering something that will help them achieve their goals. You need to be patient and persistent, things may not work out the first time, but keep at it and your success will follow

Conclusion
Every entrepreneur and business has a brand, whether they want it or not. Once you exist people will form an opinion of you and what you do. Using the point above you can develop and establish instant credibility for your brand and ensure your brand stand above the noise.

This article is written by Kimron Corion and Originally Published on Business2Community.com, the link is as follows Three Ways to Build Instant credibility for your Brand

Grenadian Entrepreneur: Bridget Burke and her Business UNIK

Grenadian Entrepreneur


Today that Real Kimron Corion features, UNIK Fashion in Grenada. UNIK is a Shoe Store operating at Grenville Grenada. The Entrepreneur behind UNIK is Mrs. Bridget Burke who has been in Entrepreneurship for a number of years and has experienced a number of successes as an Entrepreneur.  The business previously sold clothing; however management revamped the business to selling predominantly Shoes.

While the business has only been operating under that new model for over a one year; there is hope that the new product lines will position itself in the market.

The shoes that are offered are of high quality and a few the brands are as follows:

  • ·        LA Republic
  • ·        Fioni
  • ·        Golden Girl
  • ·        Smart Fit Nature Breeze
  • ·         Prediction Promise
  • ·        Dr. Scholl’s
  • ·        Bamboo
  • ·        Bongo


The business caters mainly to these sizes 8, 9, 10, 11, 12. The Entrepreneur, Mrs. Burke is looking to grow her business to be a dominant force at Grenville, St. Andrew, Grenada.

Mrs. Burke believes that in order to help alleviate some of the economic problems being faced today, there need to be a greater emphasis placed on Entrepreneurship. Her advice for young people especially young and aspiring entrepreneurs is to Pursue their dreams and don’t let fear keep them back.

Individuals can visit UNIK store on Jubilee Street Grenville St Andrew to check out their different array of products.





 
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