4 Steps To Take Before You Turn Your Idea Into a Product

Published on April 6, 2021

Have you been dreaming of becoming an entrepreneur for a while? You have numerous ideas yet you don’t quite know how to get started and turn your idea into a product?

In March 2020 there were 800 000 companies in the US that were less than 1 year old, according to Statista. So if others can do it, why can’t you? With a great idea, a can-do attitude, and commitment, you can achieve anything.

In this article, you will find information on how to take the first steps to make your dream a reality, to draft up a viable business plan, and create a sustainable product out of it.

Chasing a dream

Most likely you have come up with an idea that will solve one problem or another. And this is the very core of every product and service – you are not just providing a solution, you are solving a problem.

And this is exactly how success stories begin. Let’s take AirBnB’s journey to success for an example:

The problem: Not being able to pay rent in San Francisco.
The opportunity: Big design conference held in the city, hotel rooms being booked out months in advance.
The solution: Offering a place in their apartment for overnight stay and earning a few extra bucks.

Just like that, an idea for a multi billion company started to take shape. And the rest is history.

The road of problem solving via innovation

Once one problem is solved with a new and innovative idea, it can create a fertile ground for new ideas to grow.

E-commerce used to be expensive and inconvenient. Then Amazon came and changed our attitude towards e-commerce and today, there’s hardly anyone who hasn’t made an online purchase at least once.

When e-commerce became a new trend, it made merchants face many new problems that required solutions. In fact, as everything is becoming digitised then no matter which business you are in, the following aspects that came up with e-commerce will be relevant for your business too:

How to ensure people find the information they need and make a purchase? What is required for providing a great customer service online? Click here to find out about providing good customer service without ever meeting your customers.
How will products be delivered to customers? Should your products/services be available overseas?
How to stay in personal contact with customers?

As you can see, the road of innovation can be endless. Where one solution is offered, another problem or question arises. There’s always a way to streamline the process and perhaps you are the one who has got the solution for it.

But of course, an idea by itself will not be fruitful. Polishing your product or service and getting it ready to be out on the market, requires a lot of creative thinking and persistent efforts over a long period of time.

So without further ado, let’s get started and turn your idea into a product.

1. Understand the demand

Inspiration can strike because we have been faced with a problem and feel that our idea could change the world. No matter how great the idea is, conducting thorough research is necessary to understand who your competitors are and where you would fit in the market.

It’s quite likely that someone is already providing a similar solution. This, however, doesn’t eliminate you from the game.

In the world of innovation, success is defined by getting the timing right. Seeing that other people are thinking along the same lines should give you reassurance that this is the perfect time for taking your product from concept to market.

Who are your competitors who they are targeting?
Are they successful? Why or why not?
How does your product differ from theirs? What additional value does it bring?

However, if you cannot find anything similar to your invention, it might indicate that the market is not yet ready for it. This doesn’t mean that your product is inevitably on the road to failure, you will just have to take into account that it might take more effort to get your product out there.

What current demand is there for your idea?
If your innovation is a product, who will buy it?
If your innovation is a service, who will use it?

One of the simplest ways to answer all these questions and figure out what it will take to get your product out there is to perform a SWOT analysis. This way you will clearly see what are the strengths, weaknesses, opportunities, and threats associated with launching your idea.

2. Research the market

So naturally, the next step is to figure out if your product has a market. Will people be willing to pay for your product or service?

Some steps you can take to understand if your idea is what people are looking for:

Consult your family and friends. However, keep in mind that their opinion might be biased because they want the best for you. They might not even be the right target group for your product, yet it will still be good to know what they’re thinking.
Have informal interviews with stores and customers. You could try conducting a survey to further understand the need for your product/service.
Talk to people with expertise in your product market. Find out what are the newest innovations in the area and what struggles you might face.

Even in the early steps of product invention, marketing should always be in the back of your mind. Without having a marketing plan that can be executed, the public will never be aware of your product.

Thinking of marketing along the way will help you save a lot of time and headache in the future.

3. Don’t try to go solo

You might have come up with something extraordinary and are afraid to share it with anyone. What if someone steals your idea? This you can avoid by filing a patent. But trying to achieve everything on your will be a struggle.

Even if you are a multi-tasker, having someone else on board with a different set of skills than you will give you an advantage. So find someone who is passionate about turning your idea into a product.

Benefits of having a business partner:

Opportunity for brainstorming. Sharing ideas and perfecting together will have more results.
Possibility to work on multiple things at once. Even doing market research will be more thorough with a second view on everything.
Motivational support. Everyone feels like giving up at some point. Having someone by your side won’t let you give in to that feeling so easily.
Financial support. Starting a business will have its costs and it’s always good to have a little backup.

You should also consider joining an accelerator or incubator to get your idea forward. You will get valuable information on funding, start building an entrepreneur network, have a mentor and receive many more benefits.

4. Write a business plan

Drafting up your business plan will take you through each step of starting and running a business as well as help you attract investors. You can think of a business plan as a useful way for considering all the key elements necessary for getting your business off the ground.

According to SBA.gov, a business plan should include:

Executive summary. An overview of what your business is and why it will be successful.
Company description. Detailed description of what you do and what problems your business solves.
Market analysis. Outline what other businesses are doing and what are their strengths and weaknesses. How can you outperform them?
Organization and management. Show the team behind your business and everyone’s unique experience that contributes to your venture.
Service or product line. Describe in detail what service or product your company offers and how it benefits your customer.
Marketing and sales. Show how you will be able to attract and retain customers and nudge them to make a purchase.
Funding request. This is important when you are looking for investors and funding. Cover how much funding is needed over the next 5 years and what it will be used for.
Financial projections. Convince the reader that your business is stable and sustainable. Explain your projections and make sure they align with your funding request.

Once you have completed your business plan you are a one big step closer to turning your idea into a product.

A summary: taking a product from concept to market

These 4 steps covered in this article are only the very beginning that will help your idea to take shape in the form of a real life product. Building a sustainable business is a long road with no guarantee for success.

The best you can do is to adapt your idea on the go and see what works and what doesn’t. And don’t forget to remind yourself from time to time:

Don’t be afraid to make mistakes
Mistakes are part of the process
Just dive in and keep going
Fail often and fail early

It’s all a learning point and with persistence you will gain invaluable experience that one day will bring your idea to life.

Boosting Your Brand Identity with Custom Stickers and Labels

Published on March 18, 2021March 14, 2021

Business

Brand identity is the essence of your business’ existence. When you enter the business world you might have ideas about how to increase profits or meet customers’ satisfaction, and what makes your offer unique in comparison with others. Businesses, like humans, have their personalities with the attributes that can be ascribed to them and make them stand out as such. Brand identity is something you want people to notice – and to remember.

Many visible elements are necessary to link and combine uniquely so that they create a full concept that’ll be mentally connected with the company or product/service you offer. Colors, shapes and fonts, mascots and style – they talk about what you offer. The way you represent them and how you do so remain in the heads of people that’ll remember what you offer and what it means to them.

One of the things modern marketing techniques have brought to us is the usage of stickers and labels that can show whatever you think of in the way you want it and at an affordable price. The bags that you carry around with the company logo printed out on the surface is a miniature ad. The stickers in different forms and shapes used on many objects also serve the purpose of building your brand identity in more creative and appealing ways.

Source:goldlevelprint.com

So… how can you use these?

The modern world and contemporary business currencies are things that may surprise you – they involve attractiveness, unexpectedness and capability to surprise. This doesn’t mean the quality is less important – it only means that it needs its way to consumers who will understand its goal and its ‘why’. The stickers can help a lot in that process when used wisely and creatively. Due to their highly flexible appearance, they can be used in some unexpected places along with the usual ones.

The entrance and inner doors that separate rooms in a facility are great places to put the labels on. The doors offer big surfaces where you can say many things to the people looking at them or passers-by. Toilets walls, doors, floors, ceilings, and even mirrors in public places or restaurants and cafes are places where your eyesight wonders while using restrooms, and the funny, creative and clever message always you casually see at such places remains in mind.

Companies have already understood the advantages of using stickers on their company cars, trucks and other moving objects. When you visit a shopping mall, your eyes are used to looking around, so floors and walls can also be perfect places for leaving your ‘traces’. For example, using a wall nearby the mall corner to ask ‘When was the last time you bought a flower for your partner?’ meters away from the flower shop might be a creative and cheap way to draw attention and interest.

Depending on the type of business you run and the products/services you offer, using as many surfaces people use daily creates an image and retains it in the heads of your clients. Maybe you have a private clinic and people using your services come to you when feeling less than happy and thriving, yet putting the sticker on a night lamp near the patient’s bed that says ‘We care for you’ can be something that makes you stand out in hard times as well.

Custom sticker creation guide

When you want to use the stickers for your company brand identity, you might decide it’s best to create them on your own. Of course, paying attention to important details along the way is crucial. Some of the details you need to have in mind can be found below.

What you want to say – the message you try to convey needs to fit the size and shape and be optimal for the surface it will be put on. It might be a simple sentence or only your company/brand name – or just one or two words. What is important is what you want to say. If it will be put on the big surface the letters need to be visible and much bigger than for a small piece that is supposed to be put on the bar surface in the local pub, for example.
Visual details – color, texture, shape, mascots, images, etc. The imagery, such as mascot or some other part of your stickers may vary and can be appealing to different demographic structures. It means they can be adjusted to toddlers or elderly people, from fully professional and clean modern looks that appeal to minimalist-lovers to those who love rich, free shapes and forms, and colorful appearances.

If you prefer to create your own stickers, companies such as https://www.customsticker.com/make-your-own may be extremely helpful when it comes to designing the desired shapes and other details.

Who should receive the message – when you’re positive that your design has been exactly what you need and you’re prepared to click and order the quantity you chose, make sure to check once again and put yourself (and preferably someone else) in your potential customer’s shoes. If the message you try to pass on to them is exactly what you desire, have a second opinion from one or more members of the demographic group you’re just about to communicate to. Your closest friends, colleagues, family members or some clients might give you some golden advisory in the whole process.

Advantages of stickers and labels

One of the most important perks of creating your custom stickers is the high quality at low prices. Their flexibility and the potential of putting them at a countless number of places with significant durability make them almost irreplaceable for your brand identity. You can make more than one solution and change all of them in the way it suits you or communicate the different messages to different clientele in the way you want and at the pace you choose.

Their shapes and sizes along with the 2D appearance make them adjustable to almost any surface you can imagine. If you decide to step forward and enable some innovative ways to educate your employees about the company or something they should have always in mind while doing their work, stickers are a fantastic way to do so.

You can make the price lists, product lists, promotion lists, or any other significant data at their disposal by simply using custom labels and putting them nearby the cashier or elsewhere in the department store. They offer comfort which creates value in the heads of your clients. The way you make your brand get acknowledged and remembered after, the way you use this tool to make it easier and more convenient for both your clients and your co-workers to identify with company values – they make your business purpose more visible.

Small-Caps, Mid-Caps, and Large-Caps: What’s the Difference?.

Published on February 9, 2021

Business

When it comes to investing, knowing your options is paramount. You need to know about different ways to invest, types of companies to invest in, and more. Perhaps one of the most important things to know is the three main types of companies: small-cap, mid-cap, and large-cap.

Knowing the difference between these three types of companies can help you know what to put your money into. Maybe you’ll want to take your chances on raking in higher-than-average returns, so you’ll invest in a small-cap. Or maybe you want to put your money into a large-cap to steadily grow it. Knowing your investment goals is important, and it all starts with learning about small-caps, mid-caps, and large-caps.

What Is Market Cap?

Market cap—or market capitalization—refers to the company’s size and worth. This is determined by the total dollar market value of a company’s outstanding shares of stock. To find a company’s market cap, you multiple the number of outstanding shares by the share price. The share price is determined by supply and demand. If that company is doing well and offers something favorable, stock prices tend to rise. However, if stock is low, it is because the company’s future does not look good. Typically, the higher the market cap, the bigger the company.

Market cap matters because it can help investors determine the type of company it is, and therefore, the risk associated with that company. Usually, the smaller a company is, the higher the risk. Overall, knowing a company’s market cap is a simple and effective tool for risk assessment of those stocks you might be interested in. It can also help you achieve portfolio diversification by showing you the different sizes of companies.

Large-Cap Companies

Market Cap: $10 billion +

Large-cap companies are those with a market cap of $10 billion or more. They have grown to have such a large market capitalization because they have been operating for a long time. These companies are well-established and major corporations in their respective industries.

Investing in large-cap companies won’t necessarily rake in large returns, but in the long run, these companies could help build your wealth. Large-cap share prices generally increase over time, steadily increasing the value of your share. Some large-caps also give out dividends.

Examples of large-cap companies include:

Microsoft
Amazon
Johnson & Johnson
JP Morgan Chase
General Motors

Mid-Cap Companies

Market Cap: $2-$10 billion

Companies classified as mid-cap have a market cap of anywhere from $2-$10 billion. They are typically established and tend to be found in industries projected to experience rapid growth. Mid-cap companies can either be on their way to becoming large-caps or are already operating at full potential in stable, profitable conditions. Although they are riskier investments than large-cap companies, they still hold growth potential, making them favorable to some investors.

Examples of mid-cap companies include:

Grubhub
American Eagle Outfitters
Tempur Sealy
Dunkin’ Brands Group (Dunkin’ Donuts)

Small-Cap Companies

Market Cap: $300 million – $2 billion

Small-cap companies are the smallest—and riskiest—companies of the three. They have a market cap of anywhere from $300 million to $2 billion. These companies are small because they are either relatively young in age or are serving niche markets or new industries. Their size is what makes them particularly risky. Because they are smaller companies, they lack the necessary resources to tide them over if they were to experience an economic crisis, such as a dip in the economy. Although investing in them is a very high risk, some investors choose to invest because small-cap companies could make unusually large returns. For example, Walmart and Apple both started out as small-cap companies and are now some of the largest companies on the market. This shows that when you invest in smaller companies, you have the possibility of investing in the next huge company—which could potentially make you lots of money.

Examples of small-cap companies include:

VirnetX Holding Corp.
Tronox Holdings PLC
Smith & Wesson Brands Inc.
Novavax Inc.

Key Differences

The main difference between these three companies is their market capitalization and risk factors. For instance, small-cap companies have the lowest market cap and are the riskiest. However, they are appealing because they have the potential to make you more money than large-cap companies. On the opposite side of the spectrum, large-cap companies are secure in their industry, profitable, and usually stable investments. Like small-cap companies, mid-caps have a history of outperformance, but some of the security of large-caps.

Which One Is Right for You?

When deciding whether to invest in small-caps, mid-caps, or large-cap companies, the decision is determined by your goals. Here is a general rule of thumb:

For gradual increase of wealth and steady growth:

Invest in large-cap companies. Their stock prices usually continue to rise steadily throughout the years. Plus, you might be able to invest in companies that give dividends, increasing your returns.

For potentially high earnings:

Invest in small-cap and mid-cap stocks. Although they are high risk, they tend to outperform their larger counterparts throughout the years. To mitigate the risk of investing in these volatile stocks, make sure to research the companies you want to invest in beforehand. Look at their past performance and earnings to gauge future performance. Portfolio diversity can also help you offset any losses incurred by the poor performance of a small-cap or mid-cap stock.

Consider investing in all three types of stocks in different industries to diversify your portfolio, which helps you keep your assets secure and offset any losses.

Investing the Smart Way

No matter what you choose to invest in, make sure that you have done thorough research. This means looking into the company’s past performance, being aware of the current market type, and understand what the company’s market cap is. Doing all of these things can help you improve your chances of becoming successful in investing.

Now that you know the differences between small-caps, mid-caps, and large-caps, you are one step closer to making investment decisions that could potentially bring you big returns. Click here to learn more about the Small Cap investment with Dear Retail Investors.

How to Become a Blockchain Developer – 2021 Guide

Published on January 12, 2021March 21, 2021

Business/Hоw tо

You must have noticed how the cryptocurrency market became a desirable way of earning money, in the last decade. So many people are talking about it and considering it a passive way of earning money, if not dedicating themselves to it fully. The job of blockchain developer is wanted more, day by day. The companies all over the world have been turning to develop blockchain solutions, and therefore are in constant need of developers. The labor market cannot offer as many as are needed.

In other words, within the blockchain industry, there is an obvious need for people who are ready to improve their skills and learn new things constantly. That’s why those who enthusiastic enough about this newly popular technology and possess the knowledge of any programming language (JavaScript and such) can jump on this train and start learning more about blockchain.

Becoming a blockchain programmer is certainly not something you do in a day, but it is certainly a good investment for your future as a potential skill to be included in your portfolio and add to your labor market competitiveness.

To give an idea on how to this, here a fresh 2021 guide.

Start from the basics

We are living in the advanced technology era and all the knowledge in the world is available on the Internet. So, if you cannot afford to go and study the matter in University, you can always learn by yourself. If this is the case, start from the basics, like what is cryptography. Cryptography as a word and the science that borrowed the name to cryptocurrencies is certainly a good first step towards understanding blockchain. Although the knowledge is not necessary to become a blockchain developer (because it is possible to use existing cryptographic methods), this is a solid introduction on how to protect and secure the data handled in the blockchain. At the same time, cryptography as a topic has been famous long enough that you will not lose anything by knowing it, even if one day it turns out that blockchain is not the technology of the future. There are countless authors that wrote on this subject, so reading a book about it is certainly a good start.

Although blockchain surpasses application in the world of finance and cryptocurrencies those who are ambitious enough to go to the depth of technology are often advised to also get basic knowledge in the crypto economy. Many webinars, quality texts, and courses on this subject can be found online. The process of trading cryptocurrencies and software that analyzes the market, such as cryptosoft are also a good source of information.

It is only natural than to pay attention to the nature of decentralization, distributed systems, and consensus. The material on these topics will also include terms such as decentralized applications (apps), smart contracts, proof of work, digital signatures, wallets, private keys, ICO, and others. These are the terms that need to be clearly understood, without having to search the internet for their definition all the time.

Learn about the most promising cryptocurrencies

So far, bitcoin and Ethereum have the reputation of the most popular of all cryptocurrencies, and currently the most promising, it is quite reasonable to start by getting acquainted with them to deepen your knowledge. After that, all other cryptocurrencies become easier to understand.

As for written sources about bitcoin, the obligatory reading material for understanding both currencies is their white papers. Development tips are also available on the official bitcoin website, and Andreas Antonopoulos’ book Mastering Bitcoin is something like a bible about the mentioned currency. Of course, there are also courses offering knowledge on a subject, if you prefer this way of learning.

As for Ethereum, if for nothing else, dig some information on it because it had popularized smart contracts – a protocol that enables the existence of everything blockchain contains.

Anyway, one of the key things about ethereum is learning Solidity, a programming language for writing smart contracts that is important for making decentralized applications and running ICOs.

Being familiar with how different types of blockchain behave

Once you move from theory and step into practice, the next step is to build a bridge between user experience and smart contracts, ie. creating decentralized applications. After all, technical skills are what makes a good developer.

The development of decentralized applications, the so-called dApps, consists of a series of steps that require a high degree of knowledge in the field of computer programming. Most of the major components that make up a blockchain are developed using one or more major programming languages, such as C, C ++, Python, or JavaScript.

It is for this reason that you must have a certain degree of knowledge of computing in general and blockchain technology, more specifically.

This simply means that first of all you need to become a good blockchain programmer to know how different types of blockchains behave and what are the main features that can be exploited within dApps. Each of them can work better in different aspects, depending on the way they are conceived and designed, such as safety, scalability, usability, etc.

From this, it can be concluded that it is necessary to first assess the choice of blockchain on which to develop dApp, based on both the necessary characteristics and the type of goal to be achieved. An important assumption is that the blockchain must be programmable, ie. It must allow you to “build” new types of applications on it using smart contracts.

With this article, it wasn’t our intension to give you a complete guide about the learning process itself but to convince and show you that to learn something new you need to follow a certain path and have initiative. In this case, Google is your friend. It will easily provide you with the number of books, forums, social network profiles from people who write and publish stuff about this subject.

Learning is more connected to the will than the availability of resources.

How To Find Emails of Companies?

Published on September 17, 2020

Business

It happens that, from time to time, you need to perform a cold outreach contact with a possible customer, being the only option that you have in that specific moment. If this is the case for you, and you want to do it the right way, then you will end up stumbling into your first obstacle: most of the companies do not have their email accounts publicly posted. That is where an email finder platform might come in handy with its specialized services.

We say that because it is the best way to do cold outreach after you are sure that you have the right kind of contact information, and your message will hit the intended mailbox and not some random email address that you found somewhere online. Although some might say that inbound marketing is the way to go, present times say the outbound marketing has started getting traction in the industry. It proved to be very effective, especially because nowadays several good email finder programs can maximize your performance, such as Signalhire valid email finder, for example.

Collect Basic Information

It will be super easy to collect the required clients’ information if you follow a couple of basic moves. All you really need is their real name, and further on you can use that to extrapolate other pieces of information to help you complete your customer file.

It could sound unreal, but get this: all the information that you need in the beginning is a full name and the company website domain that they are using. Yes, that is all that you need for the first phase. And do you know what the best place to get this info is? Yes, you guessed it, it is LinkedIn, of course. First, you start with the full name search on LinkedIn, then you dig out at what company they work, so you can go ahead and figure out the company’s domain.

As a quick tip for you: Put your LinkedIn profile on a „Private Mode” and people won’t know who is viewing their profile. After you have gathered this information, the next step is to go onto Google and search the company name to find out what domain they are using. After you have successfully done all these steps, it’s time to move to phase 2:

Finding a Legit Email Address

After you successfully gathered all the pieces, it is time to approach a professional company, such as a valid email finder. Now, if you need to find one or two email accounts, it’s possible to do this for free on the platform, as only the bulk email searches require a paid plan on your account. You will have to input the full name and the company name into the platform, and the individuals’ email account will pop right on your screen, as it will be automatically generated by the software.

In case you plan to take your outreach to a bigger scale, then you need to research the website to find out exactly what paid plan would suit you best, and buy it. That is the only way you can do this in bulk. You will have to collect all the data beforehand, categorize it in separate columns of interest, such as „Name” and „Company Domain”, before uploading the CSV file into the platform. Of course, this whole process is going to cost you the paid plan, but after all, a successful cold-open strategy is worth it for the good of your company.

Valid Email Finder

With a service like this, your cold outreach strategies will be much easier to assemble and put into motion. It is the perfect platform for your inquiries, and the most impactful benefit is that you can also benefit from CRM services. After you have searched and you finally have a relevant list full of contacts, you will need a smart way to categorize them and split them into different sections. That is because you will need to approach them all differently, with different strategies and pitches, no matter you are preparing for systems administrator interview questions or some other situation.

A service like this will help you receive a wide array of services customized on your area of expertise, that will help you boost the number of reached contacts in no time. Without further ado, here are some of the most important perks of the platform that can change how you do your research:

Softwares like these will usually have browser extensions that could help you.

– The aforementioned service has a browser extension available for your Chrome or whatever you use, and it will give you hints and live information as you browse through social media platforms and ghost your prospects.
-Immediately after you register on you will be able to select the credit plan that makes the most sense for you and your business.
-The CRM functions can be a life-saver in so many situations, as it allows you to automatize most of your research, and lets you focus your undivided attention on actually important matters.

Whichever tool you choose, your skills play the main role in finding new clients. These apps just make your work easier. What tools did you try, and what did you like most? Maybe you have some professional hints? With so many companies available you need to make sure that you choose the best one available as the outreach can be of vital importance for the promotion of your business and brand. Everything from plain contacting to services like this can help you and with this we want to wish you luck in your outreach campaigns.

Why Should Companies Consider Re-screening Their Current Employees?

Published on September 10, 2020

Business

HR managers are familiar with the shocking statistics that over half of all applications contain false information, and about 30% of business failures can be attributed to employee dishonesty. As a result, over 95 % of employers carry out, at least, one form of background on potential hires, and about 86% of employers carry out criminal history checks in particular.

However, many employers assume that once a person is hired, they’re good to go for years, even decades. This explains why only 39% of employees conduct secondary background checks on current employees. This is when re-screening employees come into play and is a very crucial decision in any organization.

The problem with this approach is that a pre-employment background check is only valid up to the point it was obtained. If an employee commits a crime, losses work authorization, or has their license revoked, the employer may never find out. This opens up a company for serious legal liabilities in the case of an accident, harassment, or worse. In countries like Australia, fines for employing an illegal worker that does not have adequate work-rights exceed $400,000. Workplaces avoid this fine by conducting a vevo check to see if the worker has adequate work rights in Australia, even after the person has been employed.

That’s why we’re going to explore the top four reasons companies should consider re-screening their current employees:

1. Ensuring a Safe Work Environment

It’s every employers’ responsibility to maintain a safe workplace at all times. A person with a clean record at the point of hiring might have since incurred serious criminal convictions. It may be due to a personal issue the employee is going through. However, if violence erupts in the workplace, the employer will be held responsible for failing to carry out best practices in terms of workplace safety. By re-screening employees, employers can take note of staff members that pose new risks to the work environment.

2. Protecting Client Safety

Without re-screening current employees, it’s possible for employers to unknowingly trust their business assets to individuals with a serious criminal record. In today’s digital age, business assets are usually in the form of digital data. In order to avoid security breaches and database hacks, sensitive information must be protected by the most trustworthy individual.

3. Discovering Employees that Skidded through the cracks

Sometimes, job candidates do get away with the lies they tell, maybe it’s about their education, experience, or criminal record. Without re-screening employees, there’s no way to catch such dishonest individuals. Imagine a scenario where a person lies about having a degree when they don’t and then rises to a prominent position within the company years down the line. If such information becomes public, it can tarnish the reputation of the organization. This also means that violent individuals and sex offenders may be part of the workforce.

4. Theft Prevention

Criminal history checks through a government accredited service like Australian National Character Check and credit history checks are part of the routine for job roles in the financial sphere. Imagine a candidate passes those checks at the point of entry but two years down the line is at the brink of bankruptcy either due to a vicious divorce or medical emergency. With such immense financial pressure, such an individual might succumb to theft. However, by re-screening employees, employers can get a sense of major changes in the lives of their employees and how it will affect their ability to effectively and honestly fulfil their roles.

5. Keeping updated with changes in the employee’s lives

An employee may be free of any criminal records when they were first hired. But it is not uncommon for people’s lives and situations to change. Therefore, some employers may re-screen their employee to check if their criminal history checks are free of any criminal records. Some organizations also have the policy to check their certificates or licenses on a regular basis. Other records they may want to see are the credit card report, driving records, drug testing, financial management such as gambling risk or sanction lists specific to an industry which is subjected to changes over time.

6. Inspect someone with new responsibilities

With new responsibilities comes new challenges. Employees should be considered for re-screening when they are transferred to a different department, are promoted or are appointed to new duties and responsibilities. The main reason is as their responsibilities change, it is of vital importance to check their suitability towards that job. It could be that the employee you are planning to promote or provide extra responsibilities with is not a perfect fit for that position.

7. Employee transfer

Some companies have business setups outside their country or region and need employee transfer to those branches. It is preferable to get a screening check done when an employee is moving out of the state or country for business purposes. Sometimes, an international screening needs to be done for the other country and the initial checks are not relevant. It is also common for businesses when they merge and the standards are changed.

Not only the temporary staff require a re-screening check, but there are companies which frequently re-screen their board members too as per the rule of the organization. This is done to meet the high-security standards of the company to not only recognize the internal threats associated but it is also an opportunity to identify the employees and their history. This should be made as a part of the company policy.

Conclusion

Although many employees may find this offensive and some might not even be willing to undergo one, there are explanations to support this decision. The advantages far outweigh the disadvantages. All companies should incorporate a robust re-screening practice into their HR policy. Current employees should be screened, at least, once every two years. Moreover, if an employee gets promoted or changes their job role, they should be screened to ensure that they meet the requirement for their new position. A decision as small as this can make a big difference in the company as this will ensure the employees potential to perform their duties.

6 Tips for Choosing an Event Production Company

Published on July 1, 2020

Business

Choosing an event production company can be a challenging task since there are a lot of different services available on the market. Everyone says they are the best in the business, but how can you know if they are telling the truth?

In this article, we are going to give you some tips on how to vet the service and how to find out if they are better than the rest. Follow our guide and you will find the perfect company for your professional gathering with ease.

1. Experience

When choosing an event production company, you should look at their experience. But remember, you should not only look at the overall experience they’ve had. The best company for you is the one who has relevant knowledge and skills.

For example, some of these businesses know how to organize an event, but some of them are only experienced in finding the right equipment, tech support and/or audio and visual equipment. Depending on the thing you want to organize, you need to find a firm that will provide everything and that will take care of every part of the event.

2. Recommendations

When you want to pick the right production company, then you should learn what others have to say about it. Try to look for the testimonials they have on their website and remember that these things are going to show you the best side of the firm.

Then you can talk to other businesses or people who have previous experience in hiring these firms. They can tell you more about the positives and the negatives of the place they chose. You can also check what people have to say about them on Yelp, or you can just go on Facebook and look at their reviews and ratings.

Mouth referrals are another great way to find the right event planner for you because people don’t recommend places they are not satisfied with. Try to look for random referrals without specifically asking for them.

3. Details

The right planner should think about every single part of the event. Unless you decide that you are going to hire several different companies, you should look for one place that will take care of everything.

This should cover all the details and they should have several backup plans. As we all know, things can go wrong, and they can go wrong fast. You need someone who will be able to turn things around and who will know how to handle even the worst of situations.

As a person who has no experience in these things, you cannot foresee all the problems that may occur, but the place you hire should be able to know all the things that can happen.

4. Creative side

When we organize an event, no matter what that is, we want to do something that’s unique. Nowadays there are too many different parties and all of them feel like they have the same repeating themes.

When choosing the right planner, you need to ask them what they plan to do, or at least give you an outline before you hire them. You want to be different and you want your guests to be amazed by the thing you are organizing.

You can go online and search for some ideas, but the company you choose should come up with different ideas and present them to you. Always ask for a portfolio before you decide for one place, and ask them questions on how they plan things and how they come up with ideas.

If you notice that the business you want to choose uses the same few themes over and over again, then you might want to look for another one.

5. Equipment

The equipment a service uses is one of the most important parts of the whole event. If you choose the wrong service, you may end up with things that break in the middle of the gathering, or you might have issues with the sound or the lights.

PureAudioVisual suggests that the right company will have a strategic plan when it comes to Audio Visual rentals and gear, and they will be able to answer all the questions you may have. Talk to the service about the things they offer, what are their rental options, and if they have the newest technology. The representatives should be able to give you some additional ideas on what you can use and how to make the whole thing better.

For example, a video wall is an amazing option if you want to make a statement, and if you are looking to educate your guests. You can also opt for HQ live streams that people from different locations can watch. It is said the sky is the limit when it comes to tech gear, so look for a company that can provide all of that and more.

6. Fresh or experienced

This is something you need to think about. Some services on the market have years of experience and they are really professional at what they do. However, these places may not be as creative as the fresh, young companies. Usually, the places with a lot of experience and many successful events behind them have higher prices, but users say they are worth it.

On the other hand, the new services usually have a unique approach and they will do everything to make a name for themselves. They are most likely going to be cheaper than the old companies, and they are more likely to offer you better cooperation. One thing to consider, though, the newer places may not have the needed skills on how to handle serious issues and what to do if everything goes wrong.

So, it is up to you to see if you want to hire a service that’s been in the business for a long time, people who have the needed skills and that may cost a bit more, or to hire someone with fresh eyes, who is less expensive, and probably inexperienced.

These are some of the things you should consider when choosing the right service for your gathering. You should also think about the budget and the certifications the service offers. Talk to them before you hire them, and if don’t forget to ask them all the things you want to know. There are hundreds of different companies out there who specialize in event production, so you just have to find the right one for you.

The Relationship Between the US Stock Market and the Economy

Published on August 30, 2019

Economy

The US stock market is enormous. At over $30 trillion, it is a massive one. Many global companies are active on it and they affect the economy as a whole. Pundits have always based their economic forecasts on the performance of the stock market.

The general mood of investors in the market can indicate how the economy will perform in the coming months. The stock market and the economy are thus tied in a special relationship where occurrences on one end affect the end. The following is a breakdown of the key ways in which it affects the economy.

The Working Mechanism of the US Stock Market

Before delving into the key details, it is important to note the mechanisms that characterize the US stock market. To start with, it is among the most liberal ones in the world. It is also huge and it constantly attracts investors from all over the world. The easy processes involved in doing business are the key drivers of investment in the market. Over 46% of households in the US own some form of stocks. US companies are thus enticed by the market and they often get listed when they want to achieve growth.

How the Market Affects the Economy

In terms of its characteristics and contribution to the economy, the stock market is influential in the following main ways. First, it allows the participation of all individuals. Individual investors and private equity investors can all find their space in it. This is one of the best destinations for individual investors since they can bet on their stocks to give them returns. Representing 40% of the global stock market cap, in the US, it is irresistible. Information is also not a challenge as investors can see the best shares to buy from market data. According to traders working with AdmiralMarkets, investment in this market is also a great way to avoid inflation. When cash is exchanged for shares, the value is retained regardless of the prevailing inflation.

Second, the economy is kept vibrant because of the stock market. When companies are looking for capital, they turn to individual investors. They do this by floating an IPO where anyone can buy shares in the company. This means of raising capital is effective because it gives investors the confidence to buy shares knowing that the firm is valuable enough to go public. Shareholders who buy stocks maintain percentage ownership of the company and thus become invested in its success. Most IPOs end up raising a large capital and this has a lot of bearing on the company.

Lastly, the behavior of investors in the stock market indicates how they generally feel about a particular company. When the stock prices of a particular company go up, the indication is that investors feel confident about the future of the company. When the prices are falling, it means that investors are not confident in the company’s ability to generate profit. These occurrences have an effect on the economy as a whole. In recent times, the technology sector has become the largest in the stock market, accounting for 26% of the total value.

The Effect of the Economy on the Stock Market

As noted earlier, the economy also affects the stock market. It is a major source of insights for various entities in the economy. When the economy is fairing well, more consumers are likely to increase their spending. One of the areas where consumers end up spending their extra cash is on investments in the stock market. The demand for goods and personal consumption are thus crucial factors that affect the performance of stocks in the market. The various indices show how it performs throughout a business cycle. In a given period where the GDP is faring well, a good performance will be recorded on the stock market and vice versa.

Effects of the Stock Market are Limited

To conclude, it is important to note that the stock market is not the same as the economy. Even in the US economy where the exchange is huge, the economy is big and independent enough to function under its forces. Investors in the stock market might sometimes fail to read the signals of the economy and end up overinvesting, leading to a crash.

1 2 Next