Economics Business Mathematics

Adapt or Die – Why Your Business Won’t Survive

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“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.” – Charles Darwin

I remember a certain case study from back in business school. The narrative revolved around one of the most successful slide rule companies Pickett Eckel, Inc and how they were blindsided by a technological change. At their peak, they were one of the best producers of slide rules, an ancient technology for making calculation that you may have heard of.

Anyone who job involved mathematics or engineering used a slide rule to improve accuracy and to increase the speed of calculations. In the 1960’s, slide rules were the gold standard in computing and they were even used in the Apollo missions to the moon alongside computers with less power than yesterday’s cell phones. At that time, companies in the slide rule industry had already perfected the manufacturing and technology, and they were merely fighting it out for brand preference and market share.

Perhaps they were too comfortable or naive, but it appears that they failed to realize what they offered was not the best slide rules- they offered the best calculators. Though it is extremely complicated to change direction with so much time investment in one direction, it’s necessary for survival. You see customers have always wanted the best and most affordable technology to aid in their everyday lives. For computing into the early 1970’s, slide rules were the go-to. Had Pickett Eckel taken the time to do a regular inventory of their competitive advantage and threats, they would have smelled electronic calculators from a mile away…

“In the July 1968 The Electronic Engineer, authors Hermann Schmid and David Busch wrote about: ‘An Electronic Digital Slide Rule – If This Hand-Sized Calculator Ever Becomes Commercial, the Conventional Slide Rule Will Become Another Museum Piece.’ The article goes on to say: ‘The Electronic Digital Slide Rule (EDSR) of the future not only will be smaller and easier to operate than the conventional slide rule, but it will also be more accurate.'” Source

They knew everything about their technology and nothing about calculators, which would be their undoing. By the time they were listening, it was too late and their technology was relegated to museums.

Whether you’re a small fish in a big pond, or the top dog in your industry, this sad story doesn’t have to become your story. Through the internet, you now have access to the advent of technology. Any blindsiding technology in your industry can be anticipated with a keen eye for change and the willingness to do what it takes to roll with it. There’s are reason why Microsoft is focusing on mobile with Windows 8 after decades on top of the desktop marketing, or why Facebook is scrambling to monetize their mobile apps. They see the mobile threats coming and aren’t sitting idly by.

Spend the time to leverage the information superhighway and read … READ MORE

Finance Business

Tips To Remember When You Are Purchasing A Two Wheeler Insurance Policy For A Sports Bike

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Sport bikes are increasingly finding ownership amongst those who have a passion for adventure and want to enjoy the outdoors. Most people who are proud owners of sports bikes are continually obsessing over performances and constantly debating over speed, engines, etc. with their contemporary bike enthusiasts.

Tips To Remember When You Are Purchasing A Two Wheeler Insurance Policy For A Sports Bike
the motorbike accident on the city street

Amongst these discussions, an important aspect of sports bike ownership is also having the right two-wheeler insurance for it.

The category of sports bike generally covers all types of sports bikes and superbikes. These are premium, high end machines and require high maintenance on a regular basis.

Buying an insurance policy for a sports bike or a superbike is must under the Motor Vehicles Act 1988. The insurance plan purchased should have the bandwidth to cover all untoward incidents and accidents. It should also aim to offer cover for the family along with providing personal coverage as well. Any run of the mill two wheeler insurance may not be sufficient to provide adequate cover for motorcycles in this segment. In this category, the higher the premium, the better for the bike and the owner.

There are many insurance companies that you – can choose from online. All prospective plans can be compared online so that you can select the best insurance plan for the bike.

Here is what you should keep in mind when purchasing your insurance policy for your sports bike.

Start with some good old research:

Before purchasing any plan, it is best to research what sports bike insurance plans are available currently in the market. Go through each applicable policy and run a comparison. Shortlist the ones you like and check if each of them meets your expectations and requirements.

Go through the fine print:

Some insurance companies allow for plans to be more customized according to the needs of your sports bike. However, you still need to check if you are getting sufficient coverage that is on par with your bike mode. Generally, these plans are available on a special case to case basis which covers the model and make of the motorcycle. The fine print should include details such as mileage ranges and liability protections. Hence, remember to go through them meticulously.

Having a Feasible Deductible:

If you a higher deductible, your premium is sure to be discounted. By planning the coverage smartly, you can keep the premium on the insurance plan on the lower end. It is wise not to go for a plan with a low premium as it can lead to a situation wherein you may have your claim rejected. This can be done on the grounds of Nil Coverage for any particular situation.

Add on like Zero Depreciation:

One of the critical factors to remember is to get a Zero-Depreciation Add-on cover. It is a handy tool to have as an add-on because it covers bumper to bumper and nil depreciation.  Along with this, get a medical cover as well, which offers cash benefits and hospitalization.

Have

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Outsourcing Business Calculations

Make Sure You Get Your Online Business Started On The Right Track By Using These Top 10 Tips

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Make Sure You Get Your Online Business Started On The Right Track By Using These Top 10 Tips

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If you’re just starting an internet business or you’re not quite sure exactly how or where to start, here are 10 top tips to get your online business started as you mean to go on.

1. Find a way to make a living from your passion.

If you can find a way to make a living from your passion, you’ll find the whole process easier and more enjoyable and, ultimately, more successful. You need a lot of time and energy to start and build a successful internet business and you’ll be much more inclined to fully immerse yourself in your work, if it involves doing what you love.

2. Research your market

This is absolutely necessary. Without adequate research, an expensive mistake is quite probable. Even if you are totally absorbed by your topic, others may not be. So, honest research is where you find out if there’s a market and people willing to buy from you.

3. Always write a business plan

Always have a plan. That’s the route to making a business from your passion. First of all you need to have a destination, a dream. Then, to start on the road to success, you need to thoroughly plan all the necessary steps to achieve your dream.

Having a plan for your online business will focus your aim. You’ll find that, when times are difficult, it will reaffirm what you set out to achieve and will keep you on track.

4. Plan your finances as well

You also need a sound financial plan. The attractiveness of an online business, is often the minimal expenditure required, which means that many online businesses are started without any outside funding. But you still need to produce your financial plan to demonstrate to yourself that the business will be viable and, to give you targets to measure against.

And, if you do need to seek external funding, a well thought out business plan will be essential.

5. Be professional from the start

Being business like and professional from the start will confirm to others, and yourself, that you are serious about doing business and being a success.

So as well as producing your business and financial plans, be prepared to organise business cards and stationery, a work phone, a business email address etc.

6. Don’t expect your business to generate income immediately

It may be some time before your new business can pay its way. So, be realistic in your planning and, if you are already employed don’t give up your job and think you’ll get by somehow. That’s always difficult. Find a way to keep your job and build your business in your spare time, because that way, you’ll feel better knowing that you can pay the bills.

7. Start finding customers and build a list before you start selling

With a normal retail business, you create a product, produce your stock and then try to sell it. With an online business, however, you can reverse the process by … READ MORE

Finance Business

What Can a Mortgage Broker Do for Me?

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What Can a Mortgage Broker Do for Me?

Preparing yourself to make your first home purchase is no easy work. It often takes a lot of your time and energy. And of course, let us not forget that financial aspect. Indeed, it is no easy work, but it is all worth it in the end. Since it is your first time, you have to familiarize yourself with everything that goes with taking out a home.

You have to give careful attention to all the requirements you need to get a loan. There are many requirements, and basically, you can start completing them even before you choose a mortgage lender Midland. Most of the time, the need for each lender is the same; they only vary a bit.

One thing you need to consider as well as to hire a mortgage broker to help you have a more comfortable and smoother transaction. A broker can help you from the start of your process until the deal is closed and sometimes even until you move in. Thus, do not disregard all the help a real estate agent can help you with.

A Broker Can Save You Time

Going places just looking for a property for sale takes a lot of time. You can visit your ideal neighborhoods, but it is not a guarantee that you can view one for purchase immediately. You might have to go back there several times, and when you are a busy person, it is a waste of time. Having an agent can help you save a lot of time. She can find the property for sale and set up a viewing time, so you only have to go there once.

A Broker Can Save You Money

Sometimes, people think that by doing everything themselves, they are saving money. However, it is not the case for most. They end up paying for more rather than saving up. When you have a broker, she can negotiate for you. And since she is an expert in the matter, she knows how to negotiate so you can obtain a great home at an affordable price. And do not worry about paying her since it is the seller’s responsibility to give a commission.

A Broker Can Search the Perfect Property for You

A broker has all the means and resources to search every listing and property within the area you are targeting. It is easier for her to find one and set up a meeting. It is essential though that you can get along well with your broker so you can tell her everything you want on your property.

A Broker Can Help You Get Pre-approved

There are many instances when borrowers think they are already qualified for a loan, but in the end, they turn up disappointed since they got disapproved. To be on the safe side, you can ask your broker to help you get a pre-approval. Usually, they are well-acquainted with different lenders so she can do some extra work to help you out. You can … READ MORE

Mathematics in Marketing

The Recruiting Trends That Will Stay in 2019

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Several new recruiting trends appeared in the last year. The Recruiting Trends That Will Stay in 2019This year, these trends will be adopted and implemented on a greater scale. As a recruiter, it is important to know what the modern methods are that will shape the hiring process.

Say Goodbye to Paper Resumes

The future of recruiting is also signaling the end of paper resumes. Soft skills are becoming more important for many organisations. Social media profiles and video submissions can provide a better first impression that goes beyond a paper document, especially for marketing director jobs.

For the hiring company, this means keeping up with trends and being able to accommodate new technology. For the job seeker, this means developing an integrated personal brand via their social media profiles, personal website and digital portfolio.

Go Mobile

Google has announced that they are moving to a mobile-first indexing system. While search engine optimisation has not been a top priority for recruiters in the past, it is now something worth looking into. Google has made this change to benefit the searcher’s experience and to adjust to their habits.

More job candidates are starting their job search on a mobile device. However, this does not mean that the industry has been following suit. Mobile platforms have been around for a while, there are a lot of recruiters that have not adapted to this.

A study found that 45% of job seekers use their mobile to look for work at least once a day. Around 89% of job seekers also use mobile platforms for their search. 16% of the applications for jobs are submitted via mobile. If you want to be effective, your recruiting strategy should allow people to use their mobile devices easily.

Develop an Attractive Online Profile

If a company wants to attract the top talent, they need to have an appealing environment. Social media is a good way to demonstrate a company’s corporate culture. Research has found that 79% of candidates will review the social media profiles of companies in their job search.

The reality of working for your organisation should be truthfully portrayed across all of your social profiles. A priority listed by 60% of organisations was a strengthening of the employer brand. Your social media profiles, website and online reviews should provide job seekers with an accurate insight into your company culture.

Consider Flexible Working Conditions

The job market has been seriously impacted by the gig economy. The impact has been more workers looking for freelance positions as well as changing their expectations. Research has found that 60% of employees would look at contract work if offered this.

This is attributed to the perceived benefits of these types of roles such as being able to work from home. A survey in 2016 found that the ability to work from home was a factor in decisions made by 68% of candidates.

Take Note of Virtual Reality

Video interviewing software is everywhere and there are many systems on offer. Video is a great way to … READ MORE