Advertise your business on TGF.
Starting a new business has become a usual fact at the present time. Individuals nowadays are like; I am having a startup idea and I can start my own business.
But what happens next? Damn! Drastically failed!
Yes, this is what actually happens with many of enthusiastic youngsters and entrepreneurs these days.
What’s the reason?
Here’s the answer: 15 Best Industries to Start a Business in 2018
Why Cryptocurrency Will Revolutionize E-Commerce And Enrich Small Business
2018 has proven to be a remarkably difficult year for cryptocurrencies and at the moment it seems like the bear market will never end. Fortunately, cryptocurrencies exist for more than mere speculation and while the 2018 bear market may have crushed cryptocurrency prices, partnerships and adoptions have been on the rise. It’s during trying times such as these that we should remind ourselves that cryptocurrencies and blockchain technology exist to provide transparent, secure transactions that free up commerce from invisible hands and return power to the so called ‘little man’.
In America it tends to be the ‘little man’ that runs the majority of small wholesale body jewelry businesses and one could argue that this sector of the economy has not been receiving a fair shake for a variety of reasons, one being excessive point of sale processing fees from credit card companies and profit eating charges from megaliths like PayPal. For this reason alone, small business operators, of all people, should be drawn to cryptocurrencies like a month to a flame. Cryptocurrencies can work to maximize profit for small businesses while also making the purchasing process easier and safer for customers.
Small Businesses will Grow their Base by Embracing Crypto-Payments
Every week, cryptocurrency news outlets break news on new partnerships taking place between traditional businesses and crypto startups, but how many of these partnerships actually materialize? Starbucks and Microsoft are planning to integrate a mobile payment system which will convert cryptocurrency to cash on spot, while CheapAir.com, Expedia and Brisbane Airport accept cryptocurrency for flight and hotel reservations. Even legacy financial institutions are latching onto the blockchain and cryptocurrency revolution. To date, more than 121 banks have adopted Ripple’s xCurrent blockchain technology, which is proven to speed up cross border payments while significantly decreasing costs.
With that said, the space is far from saturated and small businesses will easily be able grow their base and command additional market space by adding a cryptocurrency based payment system to their list of payment methods. In fact, a recent survey shows that more than 39% of survey respondents in the U.S. would like to use Bitcoin for general purchases.
Cryptocurrencies Provide Free Advertising
Showing interest and willingness to accept cryptocurrencies could provide heaps of free advertising for the businesses involved. Most crypto-startups desperately need to spread any news of partnerships and adoption as this further legitimises their existence, along with clearing some of the misconceptions surrounding cryptocurrencies and how they work. Partnerships between the traditional business and cryptocurrency sector garner press coverage from media heavyweights.
Take for example, this week’s story from Forbes, which highlights a new partnership between personalized website designer Wix and PumaPay. The partnership not only allows Wix to accept cryptocurrencies for billing but also extends to Wix customers and users who will also have the option of implementing payment options into their own websites. Wix is connected to more than 200 apps and more than 125 million people have used the company to create their website and manage their online business. It only takes a moment to imagine how many customers and Wix clients will now have worldwide access to a growing base of shoppers looking to purchase items with cryptocurrency.
Another example of a partnership which could potentially enrich both parties involved is a deal between iVend and GoByte Network which will see GoByte Pay installed on all of iVend’s point of sale processors and extends to the more that 1,500 global clients and corporations that the company currently serves. Essentially, this means caffeine deprived workers could simply pop down to the lounge coffee machine and purchase a coffee or coke using cryptocurrency in the near future. This is exactly the type of ‘everyday’ transaction that research shows consumers are looking to make.
Onboarding a crypto payment processing system also has the potential to connect the business ‘brand’ with a new subset of customers as millenials have shown a particular penchant for the ideology underlying cryptocurrencies. A recent survey commissioned by LendEdu found that 38.46% of 18-24 year-olds have owned bitcoin, and 32.54% of 25-34 year-olds have owned or used bitcoin. As the general public’s knowledge of cryptocurrencies expands and the arrival of institutional investors entering the market to develop digital asset backed financial products occurs, these numbers are bound to increase within both cohorts.
Also Read: 10 Best women's clothing dropshippers USA
Unique Tokens will do the work of Growth Hacking Brands
Small businesses can reach out to new customers and incentivise current customers by developing their own cryptocurrency. This guide from MetaMask shows just how easy it is to create a crypto token using Ethereum ERC-20 standard. Personalized tokens could be incorporated into a pre-existing customer reward system that compensates shoppers for leaving reviews, making referrals or purchasing a particular item.
Business operators are then free to accept their native token as currency for goods, as discount credits or even as part of a loyalty system for vip and repeat customers. The possibilities are literally endless and the ICO rush of 2016-17 serves as a fantastic example of how cryptocurrencies can be used.
Alternatively, small businesses can forgo the process of distributing their own cryptocurrency and configuring the surrounding infrastructure of setting up wallet addresses and so on by jumping onboard with a crypto-startup that already offers the service or customer base that the small business hopes to achieve or reach.
At the moment, there is no shortage of viable cryptocurrency payment options small businesses could adopt. Dether, Bitpay, GoByte Pay, PumaPay and Crypterium are just a few, and the benefit of accepting crypto payments will reduce transaction costs and membership fees which typically increase overhead cost for businesses and the price of goods for customers. Some crypto-payment processors like Dether and GoByte even go as far as completely removing transaction fees for merchants in some situations.
5 Ways You Can Turn Your Instagram Account Into a Revenue-Generating Machine
Instagram has earned a rep as the place to go if you want to see pretty images of flowers, quotes and sunsets. And, for the most part, ecommerce companies have shied away from investing a lot of time in the platform, because, let's be honest, that clever GIF you posted last week probably won’t drive a lot of web traffic, or bring you a huge spike in sales.
But Instagram has kept innovating, adding new features that make life easier and its own platform more interactive for users. And the result has been that the application’s value proposition for garden wholesale businesses has become clear -- something that's readily apparent in the platform's recent blog post extolling its new and expanded shopping features.
Back in March of this year, Instagram announced probably the biggest game-changer to date for ecommerce brands: shoppable posts. So, while Instagram was, and is, a place where you can go for your daily dose of inspiration or motivation, it is slowly transitioning into what will soon be a fully functioning ecommerce platform.
And the brands that adapt to this the most quickly may well be able to turn their ordinary Instagram account into a beautiful, highly creative revenue-generating machine.
With Instagram’s new shoppable media feature, eligible businesses now have the ability to tag products in their posts, and send users from their feeds to the add-to-cart section of a website with just three clicks. It's also pretty easy to become eligible if you, as head of that eligible business:
Have the latest version of the Instagram app
First make sure you have a business profile on Instagram
Are an admin on a page or business manager account
Have a product catalog associated with a shop on Facebook
Sell physical goods and comply with Instagram's merchant agreement and commerce policies
With the amount of content that’s vying for our attention every day, increasing traffic to your site and acquiring new customers is not as simple as making your account shoppable. The truth is, you need to make sure you have the infrastructure in place before you even begin to tag and sell products on Instagram. So, here are my top five tips for success.
1.Your content needs to be great.
Getting people to pay attention to your content on Instagram can be tough -- and having mediocre content in 2018 just isn’t going to cut it. For this reason, it’s critical to hire a part time photographer/editor who can help you make your images look crisp, on brand, and, most importantly, professional. Start to think of your Instagram as the new “Shop Now” page on your website.
2. Your captions are awesome.
The caption of an Instagram post is often an afterthought. Whether humor, sincerity, or education is your thing, make sure the copy that accompanies your imagery is authentic, engaging and on-brand. Using language that will resonate with your target audience only heightens the probability of its members liking, commenting, sharing in the DMs or even clicking on the tag to purchase your product. When it comes to combining shoppable posts with a witty caption, see how Liza Koshy does this.
3. You're using the best and most optimized hashtags.
Researching the hashtags that your target customer is using on a daily basis will eventually pay huge dividends. It’s all about getting on that Instagram explore page and using the hashtags that your consumers love. This also strengthens your chances of putting your posts right in front of your ideal audience. Use a mix of 20 to 30 hashtags per post and experiment to see which group of hashtags gives your posts optimum exposure. There are a ton of great apps out there, like Top Tags or Leetags,which tell you the hashtags that you should be using.
4. You've made your posts shoppable.
It’s finally time to tag your products and make your feed shoppable. Tagging your products will allow viewers to tap the image, then tap the description, which will bring them straight to the add to cart section on your website. Click here to read in detail how you can do this.
But be sure not to get carried away; it’s not a good idea to make every one of your posts on Instagram product-oriented. In our experience, a good percentage of shoppable posts is only about 40 to 50 percent. Have a look at some of the brands that are killing it when it comes to shoppable posts, such as Byta, and Nordstrom, and follow their lead.
5. You've begun engaging with posts under those hashtags.
Now that you’ve done all the hard work -- making your feed look clean, crisp and cohesive; writing some amazing, on-brand captions; using the best hashtags; and making all posts that have a product, shoppable -- it’s time to begin engaging by liking images under the hashtags that your bread and butter customers use on a daily basis.
For instance, if you’re selling sneakers, identify four to five community hashtags that sneaker lovers use, such as #sneakerhead, #solecollector, #instashoes, #newkicks or #igsneakercommuity, and then like and comment on 100 to 200 images underneath these hashtags every day. This will draw the organic traffic to your account that is needed to turn your fresh new Instagram feed into a lead- and revenue-generating machine.
Above are just a few of the tactics you can use to begin maximizing your potential and generating sales through Instagram. With the rate at which Instagram is rolling out new features, there are many other ways you can leverage the platform to build a brand and begin to make sales. But, following the five tips above will certainly give you a solid foundation to start.
Also Read: 10 Best dropshippers usa you should know
President Donald Trump's latest round of tariffs added a new dimension to the trade war with China: US consumers are going to get hit directly.
The previous round of tariffs imposed by the president on $50 billion worth of Chinese goods focused almost exclusively on industrial goods and intermediate parts on final goods that are then sold to consumers.
This led to an indirect hit to consumers. As businesses faced higher costs for input goods, the companies were forced to either cut back in other areas — such as laying off workers — or pass along the price increase to consumers.
While the effect on consumers has trickled down previously, the latest round of tariffs on $200 billion worth of Chinese goods constitutes a direct hit.
Many of the 5,745 items on the newest tariff list are consumer goods or things that Americans buy every day: fruit juice, furniture, air conditioners, and more.
ALso Read: Top chinese wholesale websites you should know
The consumer goods affected represents a dramatic increase form the previous round of tariffs, according to a breakdown of a previous version of the list of goods affected. (Many of those items made it to the final list.) Chad Bown, Euijin Jung, and Zhiyao Lu of the Peterson Institute for International Economics say the reason for the shift is simple: The were only so many goods left to hit.
"Consumer goods made up only 1% of the products of the first $50 billion of imports from China subject to his announced tariffs. The rest affected intermediate inputs and capital equipment," the economists wrote. "The explanation for this shift lies in the fact that there are fewer and fewer such supply chain elements left to target. Consumer products are much of the imports from China that were left."
The sellers could choose to eat those new duties and see their margins decline. But based on price changes for goods hit with tariffs in previous rounds, it is likely that at least some of the cost increase will be handed to consumers.
Many members of the Trump administration have argued that the increases will be minor and most Americans won't notice.
""Well, you can do the numbers this way if you have a 10% tariff on another $200 billion, that's $20 billion a year. That's a tiny, tiny, tiny fraction of 1% total inflation in the US, because it's spread over thousands and thousands of products," Commerce Secretary Wilbur Ross said Tuesday. "Nobody's going to actually notice it at the end of the day."
But many economists disagree, since businesses that sell the same goods but don't source the product from China may see an opportunity to grow their profits by matching the price increase. Ultimately, this will lead to price increases for consumers and a boost to inflation, economists say.
Ian Shepherdson, chief economist at Pantheon Macroeconomics, argued in a note to clients on Tuesday that while the real danger lies in the tariffs' increase from 10% to 25% at the start of 2019, the initial hit will be significant, too.
"The inflation hit is harder to quantify, but it will be meaningful," Shepherdson wrote. "Most items of clothing and furniture are exempt from the tariffs but many food items are included. We don't know for sure how quickly importers will raise wholesale prices of the affected items, or how quickly manufacturers of substitutes for Chinese products will lift their prices."
Based on Shepherdson's rough math, the new tariffs could add another 0.5 percentage points to the current consumer price index — which, based on the latest CPI release, would boost the inflation gauge to 3.2% year-over-year. Such an increase would not go unnoticed by policymakers or American families.
"That's enough to matter, both to the Federal Reserve and to the public, who will notice when prices in Walmart start to jump," Shepherdson said.