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5 Ways Technology Is Improving Business Loans

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Business loans have been around for thousands of years. Surprisingly though, little of how loans are actually made has changed over the last few centuries – at least, not until now. Thanks to advances in computer networks, blockchain and other technologies, business loans are being improved in ways never thought possible.

Any business owner looking to borrow money these days will discover a whole new world of business lending. Traditional banks and private lenders are now facing stiff competition from online lenders, and the methods through which they are making loans available are changing drastically. Technology is a wonderful thing.

Check out these five ways that technology is making a difference for both business lenders and borrowers:

1. Faster Approval Times

It used to be that applying for a business loan was a long, complicated process that could take weeks. Applicants had to procure the paperwork, complete it, and submit it for examination and approval. But that was just the start. Multiple approvals had to be given by an officer at each level of the approval process. Just getting an answer could take more than a week.

Technology has changed the game by eliminating a lot of the inefficiencies of the old paper processing method. Electronic applications are much faster to authenticate, easier to approve, and more efficient when it comes to channelling them through all of the approval layers. Indeed, applicants can generally get pre-approval within minutes. After that, it is a simple matter of verifying application information.

2. Direct Deposit Funding

The whole idea of applying for a business loan online is to keep everything as electronic as possible. An obvious end result of this philosophy is utilising direct deposits to fund approved loans. Borrowers no longer have to go to the bank to receive a paper cheque that must then be deposited into a business bank account. Financial institutions, both public and private, can transfer funding directly from their own accounts to the borrower’s account. Electronic funds transfers (EFTs) in the modern world can be completed in as little as 24 hours.

 

3. Increased Competition

Opening up business loans to the digital world has had quite an effect on lender competition. Before the technology age, shopping around for a business loan meant contacting multiple lenders to either set up a face-to-face interview or conduct it over the phone. All of this took a tremendous amount of time. Competition was stifled as a result.

Today’s borrowers can jump online and compare multiple business loans within minutes. That mean lenders can no longer afford to be lax with either marketing or outreach. Technology has forced them to work a lot harder to win customers. That is good for borrowers.

4. Increased Transparency

The world learned a lot of important lessons from the previous decade’s global financial crisis. Among them was the need for more transparency in the financial sector. Various governments implemented new rules that forced financial institutions to be more transparent – and to use technology to do so. Business lending has never been more transparent than it is today.

5. Higher Approval Rates

Fifth, and perhaps most importantly, technology has led to higher approval rates for small business loans. Why? Because lenders who choose to operate primarily online use different methods of measuring risk. Rather than looking at industries, they look more closely at individual borrowers. They look at credit reports, non-traditional assets, the length of time a business has been operating, etc.

Also consider that technology reduces the overhead costs of banking. Lower overhead costs make it more lucrative to do business with small business owners. Lenders can earn more profit on a large group of small-business owners than they can on a single corporate borrower.

Technology has changed business lending for the better. Today’s business loans are much more accessible and customer friendly thanks to the changes wrought by technology.

Writing an Effective Abandoned Cart Email

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Customers wander away from shopping carts for any of a number of reasons. Sometimes it’s your fault, sometimes it isn’t. Whatever the cause, writing an effective abandoned cart email has proven to be quite successful at bringing shoppers back for another look and often a conversion as well.

The Stats

According to a survey conducted by the marketing automations and email marketing firm Moosend:

  • Nearly 45 percent of cart abandonment emails are opened.
  • Click-throughs result from half of those opens.
  • Conversions are derived from half of those click-throughs.

This comes to a five percent conversion rate, which makes abandoned cart emails one of the most successful forms of email marketing. However, these results are only achieved when the messages are crafted well and executed strategically. Here’s what you need to know.

Timing is Important

In most cases, you’ll need to get a message in front of the customer within 24 hours from the time they wandered away from the cart to have a shot at converting them. What’s more, the sooner the abandoned cart message is sent, the more likely it is to be effective. A study conducted by the real-time behavioral and conversion marketing specialist firm SeeWhy found:

  • Emails sent within 20 minutes increased conversion rates up to 5.2 percent.
  • Messages sent within an hour managed a 4.5 percent increase.
  • If 24 hours elapsed the rate fell to an average of 2.6 percent.

Clearly, expedience is one of the keys to success here.

So is Personalization

Let’s say you’re reviewing this article to learn how to sell ebooks on your own website. You have a customer who looked a series of books, put one in their shopping cart, but then didn’t download it. The first thing you’ll need to include is a strong, personalized subject line. Keep it short, simple and to the point. It’s too long if it goes over 30 characters. Include their first name and remind them the item is still in the cart.

SoHo’s Last Samba is waiting, Larry”

Spam triggers should be avoided, so leave phrases such as “Last Chance”, “Buy Now” and Click To…” on the drawing board. Your goal is to remind, intrigue and ultimately sell.

Effectual Body Copy

Include an offer that triggers a fear of missing out. This can be a limited time discount, a special offer of another book at a discount related to the title in which they expressed an interest, or some other perk they can only get with an immediate purchase.

In addition to introducing scarcity, this can also be a nice surprise for them. People love surprises. These can come in the form of unexpected extra discounts, special offers, loyalty benefits and free shipping. All are proven motivators. However, if you always lead with discounts, you could train customers to hold out to see if you’ll drop the price.

Include Testimonials

Peer validation is another strong motivator. Getting back to our book scenario, the message could include reviews by other readers who liked the book. Professional reviews are good too, although real person reviews tend to carry more weight with shoppers when it comes to building trust.

The Bottom Line

Writing an effective abandoned cart email includes optimizing the subject line and the body of the message to inspire immediate action. Include elements of personalization and add trust elements to reassure them they’re making solid decisions. You also have to make sure you get the message to the shopper in a timely fashion. Bring all of these elements together in a successful fashion; you’ll see a definite uptick in your sales.

How community spirit could save the National Lottery

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The National Lottery was founded by the government. It’s operated under license by the private sector firm Camelot, but its primary function was and is “raising as much money as possible for good causes”. It’s not a money-grabbing enterprise; 25p of every £1 it makes goes to good causes, 53p goes to the winners and the rest goes to retailers, taxes and admin fees. These “good causes” cover everything from financing independent films and sports teams to upkeep and maintenance for local gardens and museums.

If the National Lottery is so clearly about community, why is it so commonly seen as a private, almost selfish, experience? This is a question the National Lottery itself has been asking through its new advertising campaign which might not have the answers, but could transform its image. Because it’s this public perception that could be responsible for the recent fall in lottery ticket sales. The National Lottery’s campaign, coupled with new ways of playing the lottery online, might just help rehabilitate the brand, and keep it relevant for a new generation.

Online lottery syndicates bring players together

Players have traditionally entered the lottery by picking up a ticket at the corner shop or the supermarket. Thanks to the internet, this has changed. As well as playing the many different games available on the National Lottery’s website, players can use social media or lottery syndicate websites to buy tickets together.

A lottery syndicate involves groups of people chipping in to buy a number of tickets and sharing any winnings in proportion to how much they initially contributed. Though these can be formed offline, websites like Lotto Social connect those who want to join a lotto syndicate with like-minded players.

Knowing that you’re taking part in the lottery at the same time as (and in conjunction with) other people counters the perception that lotto is something people engage with as individuals. It also helps restore the community aspect that the National Lottery itself sees as so important to its reputation. And, importantly, the increased odds of winning will more than likely drive more players to take part.

The National Lottery’s new ad campaign rebrands winning the lottery

Think about the last time you read about someone who had won the lottery. They were probably pictured posing with a giant cheque and a bottle of champagne. Maybe there was a shiny new car in the driveway. This image of big-spending lottery winners has come to overshadow what the lottery was meant to be about: making a difference to the lives of ordinary people. It didn’t help that one of the National Lottery’s first winners blew his entire fortune on a wild spending spree.

The National Lottery’s new campaign of “grounded” ads challenges the public’s perceptions of what a lottery winner looks like. The first advert—a two-minute spot with the strapline “Amazing starts here”—highlights the day-to-day struggles of a Scottish fisherman and his family back home while he’s at sea. Upon his return, he discovers he and his wife have won the lottery, and she’s bought a large (but not comically large) detached house within sprinting distance of their old one.

Speaking to Campaign, Camelot’s Head of Brand Marketing said this new strategy was about showing the lottery was about “security, not champagne and diamonds”. As well as demonstrating the concrete, realistic difference the lottery can make for winners, the new campaign is intended to prove that players can “make Britain better by buying a ticket”. This could be through the National Lottery’s charitable efforts, or simply by helping a humble fisherman’s family find a new home. You might not win every time you buy a ticket, but someone will.

Whether these efforts will have an impact on ticket sales is still an open question, but without a doubt they help bring the National Lottery back towards what it was meant to be in the first place: a community-facing organisation that brings people together to raise as much money as possible for good causes.

Are best brokers safe for investment?

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There are many brokers in the industry and not all of them are best. Many websites have their own competitions where they announced their own favorites based on their own criteria. When it is difficult to know who is the best broker, people may want to know if it safe to invest with them. This article will tell you if these brokers are safe for your money. You should invest only a small amount of money and you do not need to look out for the best broker, but as you need think in long-term objectives, it is better if you choose the right broker from the beginning.

Exploring the industry of Forex

People in the United Kingdom are very smart. They always think twice before making any investment. Those who invest money without having a long-term plan are bound to lose money. You need to think about the risk to reward ratio when it comes to trading business. Since the market nature is completely random the successful traders always prepare themselves for the losing trades. But due to their high-risk reward ratio, they can easily make a huge profit at the end of the month.

But learning about the Forex market is not enough to make you rich. Many unregulated brokers is now offering trading service with an amazing deposit bonus. If you trade with such broker, you might even get scammed. You have to find a well-regulated broker like Saxo so that you know your funds are in the safe hands. CFD trading is extremely profitable provided that you know the ins and out of this industry. Though some of you might think the best broker is also very risky this is very absurd. Unless the market exhibits unrealistic movements, you can have a great time by trading with them. So chose your broker very wisely.

These brokers have fame and their deposit may be high

One of the things you need to know that these brokers may have high deposit than the others. People like to invest small money because they do not know if they will succeed in this trading industry. They like to invest safely and when you choose these broker, your deposit will rise. They may offer some advantages like a demo account with no limit, providing services to you all the time but their service is also costly. Think about if you can afford the money. If you think you like to invest a smaller amount, go for other brokers. You can always open an account with them but you need to learn how to manage your money properly. Traders who open account lose the investment in the first month. They have no idea of the trading and they slowly learn the techniques.

Every broker has the same policies

The policies of every broker are the same because they are monitored by Forex authority. If you think they will provide some benefits because they are popular, you are wrong. If you are looking for a broker with different policies, you need to go to the scammers. They have the best policies because they want to scam the traders. They will tell you of big returns and take all your money. A broker may be famous but that does not say he has different kinds of policies. If the policies are important to you, you can open an account with other brokers also. The broker does not influence your trades but your strategy makes the money.

Best brokers will not go away with your money

It is the best thing about them. They will not go away with your investment. They will provide you help and tricks to make you earn money. Your broker also benefits from your profit and you will also benefit from your profit. Open account with them if you want to make money.

What are the most important financial questions for a start-up?

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You have just thought of a business that you think will take the world by storm. You know your audience, have thought of your marketing campaign and feel like you are ready to invest in it. However, do you actually have enough information to go on before your business opens? There needs to be a lot of financial thought put into your business to make sure it is a success. Make sure you have answers to the questions on the list before you open your doors.

Before you jump in

One of the biggest questions you need to ask yourself before you jump into a business, is do you actually understand what financial plan would benefit your company. There is no shame in saying that you do need some assistance when it comes to the investment and taxes, as it takes a number of skilled individuals to make a business grow, such as financial advisors in the Accounts Lab. If you need assistance in any area, not only the financial areas of the business, then you can hire specialists to assist you. Do not be ashamed and do what you think will be best for the company.

How does the future look?

When you look to investors to support your company, they will want to know more about the future, as well as the company’s present prospects. This may include what the company’s future equity may look like, as well as the financial prospects of the company in three years’ time. It is important to keep as open and honest with your investors and yourself, as you do not want to appear delusional to your clients and your financial supporters. While it can seem advantageous to stay quiet, if you do have any debt, then it is best to come clean as quickly as possible. If the company’s debt can be paid off with future gains, then be sure to let your investors know this, as you do not want to lie to them or not mention it at all, as this will damage the trustworthiness of your band.

The Beginning Round

Once you have started selling your products then you will want to start planning your financial rounds. A round is when the company makes it first significant venture of capital financing, thus your investors will want to know how much was raised and what the proceeds will go towards. Before you make your statement on this, be sure to consider how the proceedings will benefit the business. You may want to invest them into the marketing of the product, or use them to improve in the technology of the business.

Technology VS. Finance

It is essential that you monitor your finances from day one so that if you encounter any money troubles, you know exactly where the money is going. Whether it be an excel spreadsheet or a database to log your money, be sure to check it weekly with your staff to discuss financial approaches in the future.

Do You Need To Earn Some Extra Cash?

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There are times when we all need extra cash, and earning money online could be the answer. If you have young children, you can work when they go to bed, or if you are at work all day, fit it in with your lifestyle. Some ways will only produce a small amount, but if money is tight, every little bit extra helps.

Just think, on those cold winter nights, you can sit snuggled up on your sofa and still be earning money.

Online Surveys

The amount online surveys pay varies greatly, but if you are prepared to sit and answer questions for a couple of hours, you could get through several in that time. Some sites will ask you to test products before you answer the questions, and you usually get to keep them as well as being paid. Completing online surveys will never make you rich, but it can put some extra money in your bank account.

Games Tester

If you don’t mind playing the same game over and over for a couple of weeks, you can earn money. The developers of games like to have them tested by gamers before putting them out to general release. They hope that the games testers will find any glitches, or tell them ways the game could be improved.

Write A Blog

Write a blog about something you are interested in or feel passionate about. Promote it on social media platforms and gain as many followers as you can. You need to regularly update it, so they always have something new to read, but once you have amassed a few followers you can earn money from your blog.

Companies will pay to advertise on a popular blog, or you can earn money every time someone goes to look at a site that is being promoted. These are known as affiliate sites and there are some very good ones about. For instance, an online casino, Mr Green, owns a site known as Mr Affiliate. This Mr Green affiliate program lets you make money by hosting banners on your blog or website. Viewers of your site that click on the banner and join the casino will earn you money.

Affiliate sites are ongoing, and the more followers you can get, the more money you will earn.

Selling You

Do you have a particular practical skill, or know a lot about one subject? If so you could produce and sell online tutorials. People will pay for tips on how to successfully decorate cakes, or to learn how to solve problems they are having with their house purchase. These are just two examples; there is no end of skills and talents that people will pay to know more about.

You could even give tutorials and lessons using the internet. Online learning has become an extremely popular tool as it allows many people freedom to learn at a pace that suits them, as well as to a structure that fits around their day-to-day lives. 

The internet is constantly shifting the dynamics in the way we live, spend and earn, so there’s never been a better time to carve out an online niche for yourself.

Snowdonia Gin Celebrates Rich Botanical Heritage

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Wales’s very own land of fire, ice and legend has given its name to one of the newest drinks to be launched onto the booming gin market.

 Snowdonia Gin is crafted by master distillers using water from the mountains of Gwynedd and a host of flavours found on their slopes and valleys.

 The recipe was inspired by the wealth of rich local botanicals, such as bark from Welsh oak, juniper which grows wild across the region and plum as a homage to the Denbigh plum which originated in the nearby Vale of Clwyd.

 The men behind the spirit are two friends and active outdoor sports enthusiasts from university days whose own love affair with North Wales has grown as they took to the hills to hike and bike Snowdonia’s spectacular scenery over many years.

 Iain Boyd and Mike Trevena, both from design and marketing backgrounds, hit on the idea of the gin, with its rich and diverse flavours, as they were walking in the Snowdonia hills. 

 After three years painstaking work crafting Eryri Snowdonia Gin – Eryri is the Welsh name for the region – with the help of specialist spirit distillers, Quintessential Brands, its distinctive bottle is now on the shelves of shops and bars from its native North Wales to London.

 Iain said: “We were walking in Snowdonia when we came up with the idea and we realised the model was right for us.

 “At that time there were only two or three specialist Welsh spirit producers who were creating very unique quality flavours and we also wanted to produce a quality spirit that embraced the rich offerings of the Snowdonia region so we set about researching the botanicals and recipe for a Snowdonia gin.

 “We wanted to create a superior product and a business we could be part of, which we could add to and which would be sustainable and would reflect this area which we both love.

 “You could set up a still here in the mountains, using only locally sourced ingredients, but then you might struggle to achieve the consistency of supply and quality of ingredients, which is key, especially as the business develops.

 “The Denbigh plum is a case in point, where this year the harsh cold spring and very dry hot summer has left a severe shortage of plums to harvest.

 “That’s what took us to Quintessential who saw the potential of the idea and worked with us. They are truly world class distillers, with over 250 years of experience in quality spirit innovation.

 “With their team we were able to create and refine the spirit recipe to one that was both sustainable and a really great taste. We are very pleased with the final result.

 “You never regret buying quality and that’s what we have aimed to create and while it’s been fantastic fun, it’s been deadly serious as well.”

 Mike added: “It’s all about the taste. We have worked very hard over three years to refine the gin – there’s been a lot of tasting, a real labour of love, but the method we have chosen means we can achieve a consistency of flavour and a consistency of quality at every level, especially as we grow.

 “It also means we can scale up very quickly to meet demand without compromise which would be very difficult to do if we were a small scale operation.”

 Gin is now a £1.6 billion industry in the UK, with over 300 distilleries. Sixty million bottles of gin were sold in the UK in the year ending June 2018 – enough for 1.7 billion gin and tonics, according to the Wine and Spirit Trade Association (WSTA).

Much of that new demand is for the artisan-style market that Snowdonia Gin is aimed at, where sales were up 167 per cent, compared with a 30 per cent increase for the big name brands.

 Iain and Mike, with their backgrounds in design, have also paid attention to the look of the bottle which is inspired by Welsh culture with silver Celtic banding and reference to ‘Afanc’, the legendary water monster of Llyn Glaslyn at the foot of Snowdon.

 Their Snowdonia heritage statement in a bold red strapline around the bottle reads ‘Born out of fire, sculpted by ice, shrouded in legend’ while on the reverse of the label and visible through the bottle is a specially commissioned painting of Snowdon by renowned landscape artist Alan Rankle.

 Already their first production run is sold out and discerning consumers are now snapping up the second round, with production now doubled.

 It is widely available across North Wales in quality food and drink outlets as well as hundreds of great pubs, bars and restaurants.

 Iain added: “Snowdonia Gin is a celebration of the heritage of Snowdonia and we are passionate about protecting and conserving that heritage and all it offers for future generations.

 “Snowdonia is a brand which is known worldwide and we want to be faithful to that brand and what it stands for. Sales of Snowdonia gin are also promoting and exporting the Snowdonia story and that’s really great.

 “Our goal, as a new small business, is to forge partnerships with other local businesses, especially in retail, tourism and leisure, helping to improve sustainability within the local economy.”

 For more about Snowdonia Gin go to https://www.snowdoniagin.com/

Risk versus reward: The FX hedging risks you need to know inside-out

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There’s no doubt that forex has become a lot more mainstream over the years. While it might have appeared like some sort of foreign term several years ago, now the basics are at least understood by the Average Joe.

However, whether or not that same Average Joe would be able to identify the various hedging risks associated with this is another matter. In truth, this is a volatile form of trading, and this is one of the reasons hedging currency companies are so in-demand.

Following on from the above, let’s now look at some of the big risks that apply to this type of trading.

Interest rate risks

This first risk really shouldn’t come as a surprise to any reader. After all, pretty much everyone in the world is affected by interest rates in some shape or form. For the typical person they can affect their mortgage rate – and similar rules apply in the world of Forex.

The issue with interest rates is that a rise in them causes a currency to strengthen. At the same time, as soon as they start to drop, the currency weakens. This all relates to how investors are treating a country’s assets.

There is a distinct correlation between forex prices and interest rates. As such, if there is anything in the media suggesting that an interest rate might be about to change, this will impact your forex investments as well.

Transaction risks

This next risk is a little more unknown, so to speak, as it only really applies to the world of trading.

As we all know, trading is performed across the world. As we also all know, different countries in the world operate in different time zones.

However, if we hone in Forex, this is something that occurs on a 24-hour cycle. In other words, it never closes. This means that the exchange rate can change before a trade has settled.

Country risks

This is applicable to most investments, but with Forex it is particularly relevant. In short, there is a lot of risk associated with those so-called weaker countries. Most developing countries will fix their exchange rate with the US dollar. However, in doing this, their own central banks need to keep sufficient reserves of dollars to keep this exchange rate. If payment deficits start to occur, the currency will immediately start to devalue.

Unfortunately, this is a problem that simply snowballs. In other words, as soon as an investor starts to hear that a currency is weakening, and ultimately decreasing in value, they might start to withdraw their assets from the country. This simply enhances the problem, and means that the currency keeps on getting weaker.

This is something that isn’t completely theoretical either. These sorts of problems have occurred in some established financial markets and one only has to look at the Asian Financial Crisis, and even the Argentine Crisis, which have both resulted in home currencies falling apart.

Which collections will be most valuable in the long run?

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Collectors often hold on to rare items in order to get as much from them as possible in the future. Whether it’s coins, bottles of wine, art, stamps, or even figures from classic films, investors and collectors will pay huge sums of money for rare items.

But it can be difficult deciding what to start collecting now in order for it to be worth something in the future. Here, we’ll go through some of the most valuable collection pieces in the world, which could give a hint as to what you should start keeping an eye out for now.

Fine wines

A firm favourite for collectors around the world, fine wines have always been able to pull in the cash at auctions. One of the most expensive bottles of wine ever sold, a single 6L bottle of 1947 Cheval Blanc, went for £192,000 in 2010.

It’s important to note that not every wine can be kept to be resold at a later time. It all depends on the vintage and the vineyard where it was produced.

If you think you’ve come across a bottle of wine that may be worth something, the best thing to do is get it valued by a fine wine specialist, such as the London Wine Cellar, who will be able to give exact figures as to how much the wine is worth, as well as assist in its sale.

While it is possible to sell single bottles of wine, collections of wine bottles, especially prestigious ones, tend to sell for more. The most in-demand wines tend to be “old worlds” such as Bordeaux and Grand Cru Burgundy. You can usually buy these in crates of six bottles directly from the vineyard, and will need to store them correctly, and create a paper trail of provenance to prove the wine is not fake. The provenance helps to prove to buyers that it was stored correctly, and that the quality of wine hasn’t been damaged, which can impact the selling price of your bottle or collection. As long as you’ve stored your wine correctly, and the bottle or collection is a rare vintage, you’re sure to have a very valuable investment after a few years.

Individual Lego bricks and sets

Even though Lego bricks are still being mass produced for new collections, there is a huge opportunity to make money by selling old pieces. Older sets can fetch high prices amongst collectors, but perhaps the most surprising thing is how much money individual pieces sell for.

There are a large number of serious Lego collectors around the world, who may be missing just one or two pieces from an old, limited edition set, and be willing to spend large amounts of money to make their collection whole again. If you are the lucky owner of one of these sets, you may consider going through it to see if you have any special, coveted pieces of the over 400 billion Lego blocks there currently are in the world.

There are even websites dedicated to finding, buying, and selling these rare pieces, such as BrickLink.com. The online marketplace gives Lego fanatics the chance to search for and buy out of production bricks, or pieces with a manufacturing fault—such as the red Darth Vader helmet—which is currently going for over £900.

Lego sets and series are now being discontinued quicker than ever, making collections and specific pieces more scarce. Getting hold of one of these sets could work out to be a valuable investment, especially if it’s based around a trend that has a cult following. The Star Wars Ultimate Battle Lego set, for example, is currently on sale for over £400, despite only being released in 2005.

Vinyl records and LPs

When cassettes and CDs took over in the music industry, no one could have guessed that vinyl records would make a comeback. Music purists defended cumbersome LPs for their supposed superior sound quality, and now it seems that younger generations are catching on.

Depending on when the vinyl was pressed, or if it’s been signed by the artist, you could get a huge amount of cash after paying next to nothing. For example, a copy of the critically acclaimed classic record The Velvet Underground & Nico was bought by someone at a New York record store for a mere 75 cents. After realising it was a 1966 acetate pressing that contained very early versions of songs that would end up on the finished album, the LP was sold on eBay for $25,200.

While it’s unlikely that the average person has a rare one-of-a-kind pressing of an iconic album in music history, having a first pressing copy in excellent condition could earn you a decent amount of money. A first pressing of Sgt. Pepper’s Lonely Hearts Club Band, for example, could get you up to £150 if it’s in good condition. Have a look through your old collection of records, or simply start investing in new pressings now, and you could have a vinyl library worth a large amount of cash.

Original comic books

For something so cheap, comic books can be worth a lot of money—depending on the comic. The most expensive comic book ever sold is Action Comics #1, which introduced the world to Superman. The original comic was sold for just 10 cents, and since then, four copies have sold for over $1 million each, with some reaching $3 million. However, there is a grading process in place for comic books, based on their quality. The higher the grade, the better condition the book is in, and the more it is worth.

Of course, there’s no way to tell what new comics will be worth anything in the future, so it can be a gamble to buy new comics solely for the purpose of selling them on in the future. However, if you are hoping to collect comic books for a long-term investment, make sure you keep them in the best condition you can, as it could be the difference between a few hundred and a few million dollars in the future.

Guide to the correct insurance for photography professionals

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If you have a passion for photography, you may well be thinking of starting your own photography business. Making the transition from amateur to professional photographer can certainly be an exciting prospect, but you’ll need more than just enthusiasm and creative flair if you want to make your dream into a reality.  In order to separate yourself from the countless amateur photographers out there, you’ll need to work hard and plan ahead. Here are some of the things you need to consider before you take the leap.

Don’t neglect the business details

First and foremost, you are starting a business. You can think like an artist during a shoot, but in order to make your new venture a success, you need to start thinking like a business owner. If you’re not the best with numbers, hire an accountant to keep an eye on the financial side of things for you.

Before you start taking on clients, you’ll also want to make sure you have the right type of insurance in place to protect you in the event of any potential claims. If you want more information, insurance provider Hiscox have created a guide to the correct insurance for photography professionals, which covers everything from equipment insurance to liability insurance.

Invest in the right equipment

As a professional photographer, you cannot get by with subpar or incomplete equipment. You need at least one high quality camera, as well as multiple lenses, flashes, and other supporting equipment. You’ll also need software like Photoshop to edit the images.

Make sure you have spares for all the key pieces of hardware because you can never know when a crucial piece of kit might break. Not having back-ups in certain scenarios could cause you major embarrassment and even damage your professional reputation.

Purchasing extra equipment, or upgrading your existing gear might be expensive, but it is absolutely necessary for the success of your new business.

Develop a brand

A distinctive brand identity will help you stand out from the crowd and attract the right type of customers. First, you need to think about what makes you special and how your brand identity could convey that to your prospective customers.

Do some research into the competition in order to see what works well, and also where there’s opportunity for differentiation.

Then it’s time to develop your name, logo, and perhaps even a tagline. You may choose to use your own name of course, but whatever you decide, make sure that all the imagery and language you use are consistent with your newly defined brand identify.

Online presence

Every photographer should have a slick website that showcases some of the best images from their portfolio. The website also needs to be easy to navigate and include important information like pricings and cancellation policies.

Of course, a stunning website is only one piece of the puzzle these days. You’ll also need to be actively promoting yourself through social media. It’s best to pick just one or two platforms and focus on using them really well. Facebook and Instagram are logical choices. Facebook is a great way to interact with potential customers and will allow people to leave reviews, while Instagram, as a photo-sharing community, is a great platform to promote the business by showing off your amazing photography skills.

With the business well taken care of, you can now devote more time and energy to your passion and further developing your skills as a photographer.

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