Month: June 2022

5 Things Every Freelancer Should Have

5 Things Every Freelancer Should Have

One of the greatest benefits of being self-employed is the freedom to work wherever and whenever you choose, whether you are a freelance photographer, writer or developer. At the same time, being a freelancer brings its own unique challenges. Fortunately, there are a variety of tools and systems that can help any freelancer overcome those challenges. Look at the five most important resources that every freelancer should have in their back pocket.

1. Productivity tool

Being a successful freelancer requires a high level of self-motivation, dedication and organization. But even for the most self-motivated, dedicated, and organized freelancer, it can be challenging to wake up multiple clients, multiple projects, and different tasks at once. As such, having good productivity tools by your side is an absolute must.

Whether it’s tools that help you create checklists, create deadlines and deadlines, or monitor your progress on a given project, effective productivity tools can work wonders to keep you focused and guarantee the timely completion of all your projects.

There are a variety of productivity tools out there, although the most common tools that freelancers use are ClickUp, Todoist, SmartSheet and Asana.

2. Billing and accounting system

In addition to managing multiple jobs at once, to be a freelancer you need to keep accurate records of your earnings. Using a reliable billing and accounting system can help you automate the process of tracking incoming and outgoing money for your freelance business. This is a great way to make sure all your bills are paid at the end of the day.

One of the most complex aspects of freelancing for newcomers is figuring out how to pay taxes. As a freelancer, you need to track your own income and make sure you pay your taxes on time. When it comes to taxes, you need to report the amount of money you earn within a certain period of time throughout the year. To avoid any potential fees and penalties, it is important to keep accurate records of your income as a freelancer.

After all, you are in charge of your own invoices, accounting and tax payments throughout the year. There are several popular billing and accounting systems used by freelancers, such as Freshbooks, Quickbooks, Self-Employed and Bonsai. These tools help you to ensure that your financial earnings and expenses are well managed.

3. Time tracking system

It is important to respect your time as a freelancer and make sure that you pay properly for your time and work. For that reason, freelancers should consider using a reliable time-tracking system so that you can keep track of how long you work on a project for the client.

Even if you are not paid on an hourly basis, using a time tracking system is a great way to track and measure your own productivity as a freelancer. This will help you to work as efficiently and productively as possible. Several popular time tracking systems include OfficeTime, Toggl, Harvest, ATracker, and Tracking Time.

4. Cloud Storage Tool

One of the many benefits of being a self-employed freelancer is that you have the freedom to work whenever and wherever you choose. Integrating the use of cloud storage equipment into your daily practice can give you endless possibilities in terms of when and where you can work on projects. Cloud storage devices allow you to upload, store, and access the content you need from virtually anywhere.

In addition to greater accessibility, cloud storage equipment is a great way to ensure that you don’t lose access to the materials needed to complete a specific task or project. Uploading and storing content within a cloud storage system has the potential to reduce the potential risk of lost content for both you and your client. Popular cloud storage tools include Dropbox, Pickloud, iDrive, OneDrive and Google Drive.

5. Email management system

Like a project management system, an email management system is a great tool for getting used to being a freelancer. Whether you want to keep in touch with a client frequently or keep your inbox as organized as possible, integrating an effective email management system into your day-to-day practice can help ensure that no client ever receives a reply.

While traditional email services usually have a few basic features that allow you to keep your inbox organized, there are a variety of other systems and extensions that you can use to further enhance your inbox organization. Systems such as Help Scout, Sunbox, Front, SendinBlue and Hive offer useful tools for freelancers, such as creating personal notes in email and creating customer profiles to easily access your clients’ past conversations and information.

As a freelancer, you have to manage multiple tasks and responsibilities for yourself and your clients. These responsibilities include managing your own productivity, maintaining good working relationships with your clients, and ultimately ensuring that your clients are happy with the quality and timeliness of the work you create. Fortunately, you do not have to do all these things yourself. There are plenty of tools and systems out there to ensure you are able to handle your responsibilities and become a successful freelancer.

Melissa Leiba is on LinkedIn
Melissa Leiba

Melissa Leba is an educator and freelance content writer based in Los Angeles, California. She has passion for learning and sharing her knowledge on a variety of topics, including business, education and international relations. In his spare time, he enjoys composing songs and traveling.

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Thoughts on the solstice Seth’s blog

Thoughts on the solstice Seth’s blog

For half the planet, today is the longest day of the year. For the rest of us, the shortest.

There was a solstice before man was. Our other holidays do not fit that definition. They invented. Short-lived. Globally, it is a moment to realize that it is the only planet in the known universe that can sustain human life.

And the planets are changing. We’re changing it.

It is important to know how this is changing, to understand its effects, and to decide to work for systematic change. Because it’s not too late, but we need to see the change that is happening now.

Many believe that it is important to understand and share information. We can’t make things better if we don’t see what’s happening.

What do you want to know?

Today is going to be a pub day Carbon Almanac, But we delayed it by two weeks due to global supply chain problems. The Dutch version is released today, with editions from Italy, China, Korea, Japan, the United Kingdom, and the Czech Republic coming soon. The US print run is smaller than we (the hundreds of volunteers who created this book) expect, so I hope you can pre-order it before it sells.

Numbers and charts and tables are just part of our world story. We can see the changes with our own eyes. We worked with Getty to collect the work of photographers and artists to capture this moment in the photo. Download and share a free copy here.

Systemic change requires sharing. Information sharing, connection sharing and work sharing. You can make an impact by simply understanding and then teaching someone else.

7 examples of freemium business models are working extremely well

7 examples of freemium business models are working extremely well

The freemium business model is considered a pricing strategy. A basic product or service (usually a digital offer such as software, media, games or web services) is provided free of charge. At the same time, the customer has to pay for more advanced features. This type of revenue generation has become popular over the past decade; Thanks to companies like Pokémon Go. But how exactly do businesses turn their free products into paying customers?

Let’s take a look at these 8 examples of the “premium” model, where companies offer a free primary product with premium features available for a monthly or annual fee. There are several Advantages and disadvantages of a freemium business model But as you can see, the opposite can be true. And if this model doesn’t work for you, check out our article Types of business models with examples.

1. Dropbox

Dropbox is a file hosting service that provides cloud storage and file synchronization services. The company was founded in 2007 by Drew Houston and Arash Ferdousi, graduates of the Massachusetts Institute of Technology (MIT). The name was chosen as a portmanteau of “Box” and “Drop” as well as a reference to how users can save files on another person’s computer (similarly how you can drop a box with someone else).

Dropbox uses a freemium business model to generate revenue. Free plans allow users to use Dropbox Basic features, while payment plans include additional storage space and more advanced features. Improved features include live support or more storage.

How Dropbox used the freemium model to succeed

Dropbox is seen as the king of freemium models. The company was able to attract 100 million users in the first 4 years of launch. Although people, including Steve Jobs, saw Dropbox as more of a feature than an individual company, other cloud-based services have not been able to attract as many users as Dropbox.

One of them The disadvantage of the freemium business model To be successful at that, a company needs a large user base. Dropbox focuses on user growth using the Freemium model and now has over 700 million users. It is estimated that only 1.6 to 4.0% of its users pay any revenue to the company. However, due to the size of their user base, they are able to earn 2.1 billion.

2. LinkedIn

LinkedIn is a social network for professionals; Connects individuals and employers to help them find jobs, build careers, and grow their businesses. LinkedIn provides its users with a free basic membership service that allows them to create profiles and connect with other community members through in-site messaging and other communication channels. In addition, LinkedIn offers a number of paid services related to its core platform: premium subscriptions for enhanced job search capabilities, access to premium networking groups to create and resume, and more advanced tools to source candidates through site user recruiters.

LinkedIn has three main sources of revenue: premium subscriptions, recruitment services and advertising. Paid subscriptions cost between $ 30 and $ 120 per month and provide access to job listings that are not available on the free site. Carrier services include a “View Who Views Your Profile” feature that lets users know who puts tabs on them.

How LinkedIn used the Freemium model

LinkedIn was already able to take on a popular social media business model and do something other platforms could not yet do. Linkedin successfully added a premium version of their service. There have been rumors that some platforms like Facebook will add a premium service but no current platform is serious about taking that leap.

The reason that LinkedIn was able to successfully transform this is because it has already taken on a popular concept and targeted people who would benefit financially by paying to connect with others.

Social media sites like Facebook, Instagram, and TikTok focus primarily on lifestyle, entertainment, and personal connections. While these things are important, people who use those platforms don’t primarily use apps for monetization or professional advancement.

LinkedIn has filled the void and has been able to exceed 10 billion in revenue.

3. Japier

Zapier is a tool for connecting apps so you can automate tasks across your app. For example, you have an app that sends emails and another that handles customer information. In that case, you can use Zapier to make sure that when a customer buys something on your website and gives their email address in the second app, the first app will be notified of the transaction to send them an email thanking them for the purchase. This saves time and effort because the two programs now communicate seamlessly without having to write each email manually or by copying and pasting all customer information into another program when someone makes a purchase through your website.

Zapier has five types of accounts: Free, Starter, Professional, Team and Company. The free plan gives you access to all the key features, such as single-step zap, transfers, limited update time, and the limited number of zap you can send. If you want more than that (unlimited zap and unlimited number of integrations at once), you have to pay between $ 20 and $ 600 a month.

4. Spotify

Spotify is a streaming service that allows users to listen to music for free, but with ads. It has over 60 million premium customers worldwide and a total of 75 million users. Users can upgrade to a paid subscription, which removes ads from the service and enables them to listen offline.

Paid subscriptions cost 9.99 per month, including student and family plans for 4.99 and $ 14.99. There is also a premium duo option which is a discount plan for two people living together. These users keep their own accounts, passwords and playlists but pay only $ 12.99 less per month.

How Spotify used the Freemium model to succeed

91% of Spotify’s revenue comes from subscriptions and the remaining 9% comes from advertising. This is an impressive ratio for a music streaming service. One of the ways Spotify was able to achieve this was by offering personalized membership for students and families.

By creating different plans for people of different populations, the service was able to target its customers who they are and how they want to use the service.

5. Slack

Slack is a messaging app like Microsoft Team that lets users interact with each other. Users can create their own channels and share files in Slack. The free version of Slack has some limitations, such as over 10GB of storage or the inability to search your entire archive for past messages.

The Pro version costs $ 6.67 per user per month. It offers unlimited search capabilities, individual groups, the ability to integrate third-party apps like Google Drive or Dropbox into your workflow, 1TB of storage and other useful features not offered in the free version.

How Slack has used the freemium model

Slack has been able to succeed by offering a free premium as well as having a direct sales strategy. By targeting enterprise clients, Slack’s revenue has grown to over $ 900 million. It has also been reported that 30% of customers who use the free version of Slack become paying customers.

6. Amazon Web Services

Amazon Web Services (AWS) is a cloud computing platform that provides cloud storage, cloud computing and cloud networking services. The service is designed to help companies work together to come up with new business ideas and build their infrastructure faster. It is a highly successful freemium business model, enabling AWS users to start using its services free of charge.

Like other freemium models, the AWS freemium model gives you access to their services without paying anything in advance; However, there are limitations to what you can do with the free version of their service In order to use the advanced features or be able to store more data on their servers (which is one of their most popular payment services), you need to purchase one of their payment plans and upgrade your account.

How Amazon Web Services Used Freemium Models

In 2000, AmazonWeb Services sought to enable other stores to build their e-commerce platforms on top of Amazon. The name of the site was Merchant.com. However, the test did not work well with Amazon’s existing infrastructure.

AWS was born out of that effort. They figured out how to create an infrastructure that could empower small and medium-sized businesses. Many people do not understand the importance of AWS in the bottom line of Amazon.

AWS accounted for 59% of the company’s আগে 22.9 billion profit before interest and taxes (in 2020), although it was only 12% Amazon’s income.

7. Pokemon Go

One of the most popular examples of a freemium business model is Pokemon Go. The game quickly became a cultural event and can be downloaded for free. Once you download the app, you can play as much as you want, but there are also in-app purchases that allow for more features within the game. These include items such as pockets or incubators for boiling eggs.

The success of Pokemon Go demonstrates just how powerful this business model can be. Millions of people worldwide have downloaded it; Some estimates put the number at around 700 million downloads.

How Pokemon Go used the freemium model

While Pokemon makes most of its money from in-app purchases, it has another unique source of income. The app uses local sponsorship to generate additional revenue.

Local sponsorship is the same, but not the same as advertising. Niantic, the game’s developer, says, “The cost per visit (CPV) model of Niantic is less than the ভ .50 / daily unique visit to the sponsored place by partner partners.”

Basically, local retailers, restaurants and other stores will sponsor a location where users can catch and train their Pokemon. This is the CPV model So-called earnings Niantic ranges from $ 75 million to $ 250 million at the height of Pokemon frenzy.

By sponsoring a location, these businesses can attract more people to their locations which is expected to lead to more in-store sales. Companies like Sprint, McDonald’s, and AT&T have sponsored positions. Starbucks has managed to turn all its stores into sponsored Pokestops.

Jazmin Merriman on Twitter
Jazmin Merriman

Jasmine Merriman is studying to become a writer, family and marriage therapist. She loves to write about minimalism, business, finance and lifestyle. He likes to inspire people to live more deliberately by showing what he does as an example. Feel free to connect on Twitter @MinimalFE

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The rise of the placebo Seth’s blog

The rise of the placebo Seth’s blog

I’m a fan of the appropriate placebo. They often have some side effects, they work when used cheaply and under the right circumstances. You can check out my rent on them here, it has been read millions of times to date.

A placebo is not just a medical intervention. It is any tool we use to feel good in a complex world. Not only do they make us feel good, sometimes they can actually change our physiology and make us better. A wine label is a placebo for something (expensive wine tastes good, as long as the labels are vague) and even search engine satisfaction comes primarily from the story we tell ourselves about what we’re using to search.

Many forms of marketing are actually attempts to create a placebo effect.

But how do we pick them? Why chicken soup is good for cold but not tomato soup or turkey soup?

And why do we see (often to our detriment) the vicissitudes of conspiracies, conspiracies, and stories that were driven by true and replicable studies?

For a placebo to be effective, we need space to operate our brain. It may involve:

• Complex problems

স্থান Taking place over time

That has emotional effects

When these conditions exist, our mind seeks an explanation, firm action and the opportunity to make things better.

But that has always been true. Another reason is that we need to hear about a placebo from someone to whom it has worked. A proposal should be made that requires the power of advice.

If an influential person is dieting in chicken soup when their cold naturally gets better, it is not difficult to say the reason for the improvement of the soup. Because there was a placebo when the disease was on its way, we associate the soup with improvement. We can then tell others (increase our confidence, status and affiliation) in an effort to generously improve the health of our friends. Some of them will also eat soup when the cold improves, which will further cement the running advantage of chicken soup being the placebo of choice for colds and coughs.

Thousands of years ago we had plenty of placebo. We had no idea why the sun rose, why it snowed, and why anyone got sick. Placebos were essential for our mental well-being. But the rise of the scientific method has sidelined many of these stories, as we have come to understand things more clearly and less of what was complex.

In the last ten years, we have seen a change happen.

And, as always, the Internet is the agent of change here. The Internet has given people the opportunity to share their fears and anxieties and frustrations about the world, especially the complex things that happen over time. The world is not getting more complicated, but our fears and misconceptions are becoming more widely shared, which makes it seem more complicated. Very few people are bothered by gravity, but it is easy to see mysteries or even conspiracies in events and trends which is less easy.

If someone suggests a placebo as a healing, relieving or culturally sensitive, it can be used by others. And some who use it will find that things got better as it was present and so it gained in currency. Vitamin C does not work the way it does in curing scurvy, but in the sense that it was co-occurring to cause something else to happen.

A placebo magician who gives us comfort and patience without any side effects. Alas, when we apply them to areas where we are better off doing things that have a more direct impact, we are making a mistake that we and the people around us must pay the price for.

Arc of History | Seth’s blog

Arc of History | Seth’s blog

According to every geological measure, modern human life is a tiny jolt, a steady spark on a very long time record.

As long as life existed on earth, there were no humans. And when there were animals like humans, they spent more of their time doing nothing more. Nomads eat, roam and hang out when needed. It’s not an easy life, but there’s nothing in the modern confusion or problems that urban culture presents.

Cereals are starting to change things, because agriculture produces a lot more calories per acre, which allows the population to grow … and saves the results of our labor. Accumulated grain, however, is easier to steal and tax than anything that must be eaten or cut fresh from the tree.

And so you can get markets, wars and governments and the rise of a group of people who are richer than any person can be a farmer or a nomad.

All of this is mostly irrelevant. It is irrelevant to understand how Edison made movies or sound recordings. It’s good to know history, but it doesn’t help you win an Oscar or a Grammy.

The two most relevant forces are in a strong dance right now:

বৃদ্ধি Increasing the carbon-fuel of the industry.

বৃদ্ধি Increase information-stimulation of ideas and connections.

Art Earth’s appearance from space has changed, it has enriched billions of people, and it has pushed our species to the brink of extinction due to our influence on the climate. It is often based on caste and coercion and has created both opportunities and problems.

Connection The culture has been able to enrich, and in recent years, spread by the noise of the Internet, it has made many people miserable in the short term.

As we slouch through another long, challenging year in which these two energy conflicts, expand and intertwine, I remember what Theodore Parker said more than 150 years ago:

I don’t pretend to understand the moral universe, the pressure is a long one, reaching my eyes but a little way. I cannot calculate the curve and complete the figure by visual experience; I can make it divine by conscience. But from what I see, I am convinced that it is leaning towards justice.

We didn’t really like it much yesterday. Here we are, many of us just a hundred years ago with far more privileges and powers than any other human being on earth.

In the last few decades, the field of culture has advanced so much that the defenders of the status quo are tired of trying to defend what it was. And they sometimes express that fatigue through anger, division and vitriol.

The good news is that we have everything we need to make things better. If enough of us stands and leads and connects, we will continue to move as close as possible.

There is peace of mind and possibilities here. They go together.

How market research can make or break your startup

How market research can make or break your startup

People are always surprised to know that Apple has not invented a mobile phone or mp3 player. Still, they are the first company to combine these two devices: the iPhone. Like Apple, successful startups need to use market research to determine what their customers want and need, who their competitors are and how they can differentiate themselves from their competitors.

What is market research?

In short, market research is crucial for launching your startup. Doing hard research will make the difference between success and failure. Identifying market gaps can set your business apart from competitors. Knowing the best way to reach customers will ensure that they hear about you and want to buy your product. If you fail to conduct adequate market research, you may miss valuable information to help you stay ahead of competitors and grow over time.

For example, suppose you are one Entrepreneur with an idea For an app that enables people to book a hotel without having to call or through the hassle of booking online. In that case, you need to do market research to find out which features will help your visitors engage with the app.

How to conduct market research.

Once the type of information you are looking for has shrunk, ask yourself how you will find it.

  • Listen to your customers: You want to find out what your customers are saying about you and your product, but don’t stop there. You should also listen to what they have to say about other companies in the same industry. This will give you insight into the competition, which can be helpful if you plan to enter an established market or accept a bound competitor.
  • Troubleshooting: Find out what problems people are trying to solve with existing products that didn’t work for them – and fix those issues with you.
  • Listen to your competitors: In addition to listening to your own brand, keep an eye out for any conversations about competing products.

Your brand is not about what you sayIt tells your customers what it is.

A good brand delivers a message that resonates with its target audience. It’s not just about the product or service you offer but also how you communicate and deliver it to your customers. You can get the best products worldwide, but if your customers don’t feel connected to your brand, they won’t come back for more.

The best brands are built on listening to the customer and understanding their needs. If you don’t listen to your customers, how can you create a brand that they will like? Suppose a company does not have an internal “brand” or identity. In that case, it will be difficult to project an intentional message externally to attract customers through an effective marketing campaign.

A great example of this comes from Starbucks, which has always focused on building customer relationships through coffee cups with their names printed on them. They were able to do this by understanding what their customers wanted কিছু something more personal than a simple “thank you” or “have a nice day.” By listening intently to what their customers want, Starbucks was able to create an experience around their products that made people feel that they were more important as individuals rather than standing in line at checkout counters across America every morning before work.

Suppose your startup does not already have some kind of internal brand guide or set of core values ​​(e.g., mission statement). In this case, it should be one of the first things to be done as soon as possible. Because these documents will help guide all future decisions made by the team members involved in the business venture moving forward in the years to come!

Market research will save you money and help you find your audience.

You are a startup, so you want to spend your time and money efficiently. Whether you Do your own research or if you hire an outside firm, Market research is how you do it. Market research can save you money by helping you find what people want, need and value before you invest in making that thing a reality. It can help show your audience how they are similar or different from other groups of people who might be interested in your company’s offer — and why they should care!

The key to understanding your customers and your market is to ask the right questions. When it comes down to it, there are only three things to research before launching a product: who will buy the product (the customer), what the product does for them (competitors) and how much they cost (cost). If these three questions are not answered, the product is at risk of failure.

Jazmin Merriman on Twitter
Jazmin Merriman

Jasmine Merriman is studying to become a writer, family and marriage therapist. She loves to write about minimalism, business, finance and lifestyle. He likes to inspire people to live more deliberately by showing what he does as an example. Feel free to connect on Twitter @MinimalFE

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Travel? Here’s how to manage your business from the middle of nowhere

Travel? Here’s how to manage your business from the middle of nowhere

No matter what type of work you do, technology makes it possible to work even remotely. If you are camping in the desert but are always stuck because you need Wi-Fi to run your business, now the problem is solved, thanks to a handful of businesses that offer Wi-Fi anywhere, anytime. Now you can work on the beach or at the pontoon — and not have to prepare the team for unnecessary time away from the office.

Of course, you want to enjoy your journey, but when it comes to business emergencies, it’s important to be accessible. Thanks to companies like Starlink and Boingo, it’s still possible to feel completely free while making money. If you are dreaming There is a business that you can run from anywhereEven on top of a hill, it is now possible to do so.

Who benefits from Wi-Fi at any time?

In the last few years, a growing number of people have gotten a taste of what it feels like to work from a distance. Now that COVID-19 restrictions have been relaxed, allowing travel, those who have the freedom in their professional life want to move away.

For the fearless traveler, this is truly a gift from the gods of technology. Even if you are an online tutor or have a zoom meeting to manage, Wi-Fi accessibility and speed are necessary to make this kind of work possible. The type of work you do is not a big deal but the kind of lifestyle you want. Some people call their expensive fares and mortgages “signers” to enjoy extensive road trips.

But they are still able to make phone calls, answer emails and work without interruption. How is this possible? The answer is: they use a Wi-Fi provider that offers Wi-Fi anywhere, anytime. This is a great option for those who travel extensively. (Pro Tip: You can do a lot on long flights!)

Boingo

Boingo ার Offers a simplified Wi-Fi connection with a minimum monthly fee In some places, if you have the correct MasterCard, you can get it for free. You can connect to this type of Wi-Fi during the flight, which enables you to access unlimited high-speed Wi-Fi. There are over a million hotspots worldwide and you can connect up to four devices.

If you only travel for a short time, you can purchase a subscription and cancel whenever you need. When planning a trip, be sure to check their website to make sure they provide services in the area you are planning to travel to.

Starlink

Starlink Highly expected by business owners, programmers and other remote employees. This is a great option for those who are in an area where the connection is unreliable or unavailable

Starlink, the only provider of a SpaceX product, an orbital-class, reusable rocket. This enables them to offer a highly advanced broadband internet system.

To mitigate debris in orbit, Starlink will deorbit its satellites when they are no longer running, ensuring that this interstellar option is as environmentally friendly as possible.

Compare Boingo and Starlink

When deciding which Wi-Fi provider to choose, first of all what are you using it for.

Boingo’s price is much lower, but it does not offer coverage in many rural areas. If you want to be isolated from society and go to the mountains or the jungle, Starlink will take you there.

Starlink can be accessed from almost anywhere, but it costs more. If you plan to go out on a “stick” for the long haul, you may find it worth it. First, you need to buy hardware with a small satellite. After that initial up-front cost, you only need to spend $ 140 per month to enjoy the benefits of Starlink.

Boingo, however, if you are going on a short-term vacation if you do not go too far from the deadly route, or if you fly often for business. Their Wi-Fi is widespread in most metropolitan areas, so if you travel to or from major cities, this option may be useful. Sometimes, an airline may include Boingo’s services as part of a travel package.

Conclusion

If you’ve always dreamed of taking a summer vacation for a final road trip, or staying in a cabin by the lake, the only thing holding you back is the lack of Wi-Fi access, which is now possible due to technological advances. If you need to work remotely, you’ll still be able to manage online meetings, receive phone calls, communicate with your team, and more, using the Internet available anytime and anywhere.

Loraine Couturier on FacebookLoraine Couturier on Twitter
Lorraine Couture

Staff Writer: Loraine Couturier is a jet set writing chick from Canada that travels around the world. His writing and marketing skills keep him from eating out and jumping on planes. Loraine loves to write about almost everything and to pass on her knowledge to others. See him at https://www.facebook.com/jetsetwritingchick

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How did Kevin O’Leary get rich?

How did Kevin O’Leary get rich?

Sometimes known as “Mr.” Kevin O’Leary is a venture capitalist, entrepreneur and politician. He is best known as an investor in ABC’s Emmy Winning business reality show, Shark Tank. At the show, entrepreneurs create a pitch on a panel of five investors, or “sharks,” who decide whether to invest in their company.

On the show, he often stays with live and hateful entrepreneurs who enter shark tanks in search of investment. The show has seemed a bit unfocused in recent episodes of O’Leary. But like him or not, it’s clear that O’Leary understands business and money.

If you’ve ever wondered how “Mr. Wonderful ”was able to build an empire Worth over 400 400 millionThis article will explain exactly how Kevin O’Leary got rich.

O’Leary’s upbringing and background

Kevin O’Leary was born on July 9, 1954, in Montreal, Quebec, Canada. O’Leary’s mother, Georgette, was a small business owner and investor of Lebanese descent, and her father, Terry, was a salesman of Irish descent.

O’Leary may have gotten the love of investing since his month. Georgette practiced investing one-third of her weekly salary in dividend-paying stocks and bonds. This was very similar to Kevin O’Leary’s current strategy because O’Leary famously stated that he did not invest in public companies that did not pay dividends.

After earning a bachelor’s degree in environmental studies and psychology from the University of Waterloo in 1977, O’Leary went on to earn an MBA in Entrepreneurship from the University of Western Ontario’s Ivy Business School in 1980.

How did Kevin O’Leary make his money?

Many people who watch Shark Tank don’t know that O’Leary started out as a filmmaker in college. His first business was an independent production company called Special Event Television (SET). He co-founded the business with two former MBA classmates. The company produces small television shows, sports programming, and commercials.

Photo Credit: Kevin O’Leary-YouTube

SET was a small success but O’Leary sold his shares to one of his partners for 25,000. With his time behind him as a producer for now, O’Leary had time to focus on this next business that would prove to be an opportunity to make his fortune.

With a 10,000 investment from his mother, O’Leary launched SoftKey software products. SoftKey specializes in distributing software on CD-ROMs. Throughout the 1990s, the company acquired most of its competitors, including a company called The Learning Company (TLC), for 606 million. Softkey took the name TLC after the acquisition.

After 1999 when O’Leary made most of his money. In 1999, he sold TLC to Mattel for 4.2 billion. Soon after, he became a co-investor in a Canadian storage company called Storage Now Holdings. Mr. Wonderful was able to pocket $ 4.5 million when SotorageNow Holdings sold for $ 110 million.

How he continued to earn his money

The biggest shark tank success

Wicked Good Cupcake

One of O’Leary’s most successful investments in shark tanks. Boston-based Wicked Good Cupcake Pastry Company. The mother-daughter team of Tracy Nunan and Daniel Villagi were able to sign a চুক্ত 75,000 royalty deal with O’Leary.

The agreement states that for each unit sold, O’Leary will receive 1 until the return on investment. From there, his royalty will come down to 50 .50 / unit. It took him only 75 days to get his money back.

Prior to signing a deal with O’Leary, Wicked Good Cupcakes were selling for about $ 350,000. These numbers have risen sharply to over $ 8 million annually. Although he did not receive any equity from the deal, Mr. Wonderful has often called the deal one of the best he has ever done.

Groovebook

During Season 5, Brian and Julie Whiteman introduced their business called Groovebook to investors in Shark Tanks. Groovebook is an app and service that lets you print photo books from your cell phone and then send them to you every month. The couple was able to sign an 80% licensing agreement with Mark Cuban and Kevin O’Leary for $ 150,000.

Since appearing on the show, Groovebook’s paid membership has grown from 8,000 subscribers to 500,000. In 2014, the company was acquired by Shutterfly for 14.5 million.

Bottle breaker

Husbands and wives of O’Leary Eli and Jane Crane have also invested in the entrepreneurial team. Their company name is Bottle Breacher. Bottle Breacher makes unique 50-caliber bottle openers, made from recycled bullets.

The investment would cost Crane’s company 20%, but it seemed worth it, as they flooded in with over 20,000 orders after the show aired and brought in $ 2.5 million in 3 months.

Wine, money management and other investments

Although all the sharks on the show are investors, Kevin O’Leary often boasts that he is the only professional enterprise capitalist. He founded O’Leary Ventures, a private start-up venture capital investment company. He also owns O’Leary Fine Wine. The company is marketed as a premium wine brand at an affordable price.

In 2015, O’Leary launched an ETF through O’Shares Investments. O’Share provides ETFs for long-term asset management with an emphasis on investment quality. O’Shares ETFs are designed for investors with the goal of saving assets and increasing revenue and capital.

ETF is a division of its investment fund, O’Leary Funds Management LP, where O’Leary serves as chairman. O’Leary has ventured into gold investing, investing five percent of its financial portfolio in physical gold.

He was also a big supporter of cryptocurrency investing. O’Leary owns coins in the cryptocurrencies Ether, Polygon, SOL, and Bitcoin.

Thomas Martin

Tom is a member of the editorial team at Startup Mindset. She has over 6 years of experience writing on business, entrepreneurship and other topics. He focuses on online business, digital publishing, marketing and ecommerce startups.

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Entrepreneurial Lifestyle খুঁজুন Find Your Way বৃদ্ধি Grow Your Business · Success · Technology

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Entrepreneurial Lifestyle · Money খুঁজুন Find Your Way বৃদ্ধি Grow Your Business · Technology · Your Mindset

Problem now (problem later) | Seth’s blog

Problem now (problem later) | Seth’s blog

People always address Now Problems before they work Later Problems

Every time.

One night in 2004, you might have two choices. You can go out for a fancy dinner with friends, or you can buy a share of Google at their IPO. Decades later, your dinner is forgotten but the stock has multiplied.

Of course, some people bought that stock. That’s not because they faced the opportunity to save for their retirement after 18 years. Because they told themselves a story that people send money to the market after their shoes 7 days. They have turned a future problem (leisure) into a present problem (I would be a loser if I went to this dinner instead).

Our story about the future is now, no matter how far away the future may be.

All we can do with the future is experience our story right now.

All problems are short-term problems if we tell ourselves the right story. But we don’t usually do that, because we make significant concessions in the future. A grilled cheese sandwich is more important today than two grilled cheese sandwiches next week. Unless we tell ourselves a present and urgent story of how it feels to ignore the future.

Because sooner or later, we live in the present. A gift full of stories and cultural pressures and the urgency we invent for ourselves.

5 Ways to Avoid Internal Fraud and Ensure Efficiency

5 Ways to Avoid Internal Fraud and Ensure Efficiency

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In any company, no matter how big or small, there is always the possibility of fraud which can be caused by those who are desperate for money or who want to take advantage of the company’s system. Fraud can do a lot of damage to a business, not only financially but also in terms of its reputation. In this article, we will discuss five ways to avoid internal fraud and ensure the efficiency of your company.

Establish clear policies and procedures

Any business or organization dealing with financial transactions must have clear policies and procedures and a reliable system such as Risk and compliance software Ensure that all funds have been accounted for and that there is no fraud or misappropriation. An accountant or financial professional should design these policies and procedures and all employees should be adequately trained. There are several key elements that should be incorporated into each good economic policy and procedure.

There should be a transparent system for recording all income and expenditure. This system should be designed to discourage any fraud or misappropriation. Second, all money management employees should have bonds and insurance, which will protect the company in case of accident or error. Finally, there should be a simple procedure for auditing books regularly. This will help you to catch any mistakes or irregularities that may occur. By following these simple guidelines, businesses can ensure that their financial transactions are managed securely and efficiently.

Educate your employees

As a business owner, it is important to educate your employees about fraudulent behavior and the consequences of engaging in such activities. Fraudulent behavior can take many forms, including embezzlement, Identity fraud, And false claims. The consequences of fraud can be significant, ranging from financial loss to damage to your company’s reputation

. The best way to prevent fraud is to make sure your employees know the risks and potential penalties. You can do this by providing training on the subject and with a clear policy that constitutes fraud and defines the consequences of engaging in such activities. Taking these steps can help protect your business from fraud and its potentially destructive effects.

Company access to funds is limited

Another way to prevent fraud is to restrict access to company funds and accounting information only to those who need it in order to operate, including employees, contractors and any other third party who may have access to your money. By having strict control over who has access to your financial information, you can help prevent fraudulent activity.

Monitor financial statements regularly

A financial audit examines a company’s financial statements and transactions. An audit may be conducted by an internal auditor or by an external auditor. The Purpose of financial audit Ensuring that the financial statements are accurate and free from fraud. The auditor will review the company’s financial records, transactions and procedures for conducting a financial audit. The auditor will interview staff and examine internal controls. A financial audit is an essential tool for preventing fraud and ensuring the accuracy of financial statements.

Implement a system for GRC compliance

Companies face a growing number of compliance risks and requirements They need an efficient and effective way to manage risk and compliance to meet these obligations. An alternative is to use risk and compliance software. This software can help companies track and manage compliance risks and provide a central repository for all compliance-related information. In addition, risk and compliance software can automate many tasks related to compliance management, such as creating and distributing reports.

When choosing software, it is very important to choose a solution that suits the specific needs of the company. Once in place, companies must develop a mechanism for using it effectively. One of these should be assigned to a dedicated team or individual to manage the system. The team should create a schedule for regular reviews and design updates. By following these steps, companies can ensure that their risk and compliance management measures are appropriate for the purpose and up to date.

Conclusion

Fraud is a serious problem that can have devastating consequences for businesses. However, there are some steps you can take to prevent it. By educating your employees, establishing clear policies and procedures, restricting access to company funds and conducting regular audits, you can help protect your business from fraud.