How Manage Foreign Exchange Risk

Foreign Exchange Risk

During the Covid-19 pandemic, the foreign exchange market has seen dramatic fluctuations, including changes in currency rates. The global economy has almost ceased due to strict regulations regarding lockdowns and contain the outbreak. The pandemic has affected the stock market and oil prices, putting brakes on the global economy.

According to Alan Safahi, a San Francisco-based startup founder and entrepreneur, the forex market seeks safe-havens, and traders move toward the U.S. Dollar, Swiss Franc, and Japanese Yen. Safahi’s research and analysis show that commodity and smaller currencies have also suffered during the pandemic.

These currencies include the New Zealand Dollar, Australian Dollar, Swedish Krona, and Norwegian krone. In today’s article, we will guide you on how to manage foreign exchange risk. Make sure you read this guide thoroughly to get the most out of it. Read on!

Do Some Background Research

Alan Safahi of Orinda suggests traders do some background research on currency volatility to source the right supplier or search for overseas property. Because foreign exchange is a complex market, it is crucial to consult a specialist or expert who can guide you on the risk mitigation strategies and explain how to stay stable in the market.

Invoice and Contract in U.S Dollars

Individuals and businesses use different protection strategies against fluctuations in exchange rates. Invoicing and contracting in U.S dollars is the easiest strategy to keep your expenses, revenues, and profits in the same currency.

Traders who are active in their home currencies will have no transaction and translation risk because these risks are passed to their overseas business partners. However, some overseas business partners may charge you for them to take over the risks.

Use a Foreign Currency Bank Account

According to Safahi, Founder at Zed Network, a payment orchestration platform focused on cross border payments and FX, “matching” is another effective option to mitigate or manage risks in foreign exchange. For instance, you need to open a foreign currency account and match your sales receipts from foreign customers with payments due to foreign suppliers with the same currency.

Make sure you deposit the receipt in the bank account and then use your balance to pay the supplier. It is an effective strategy because it reduces your currency exposure to your balance left in the account, especially after meeting the foreign-currency liabilities.

Use Hedging Methods

Safahi, a global entrepreneur with thorough knowledge of hedging methods for foreign exchange risk management, suggests that, if several months are likely to pass between your contract signing and payment in a foreign currency, it is better to hedge it through a forward exchange contract.

Bear in mind that such contracts are typically the “purchase now and pay later” deal, allowing you to lock in exchange rates at a determined date in the future. According to Alan Safahi of Orinda, the set date is usually anywhere between 6-24 months.

A forward contract is an excellent way to manage foreign exchange risk because one party buys and another sells currency on a set date in the future at a predetermined exchange rate. You can make contracts with a bank or currency provider through Zed to minimize risks.

Final Words

Foreign exchange risks involve fluctuations in currency exchange rates, affecting a company’s financial performance. Remember, these changes in currency exchange rates can significantly damage your business profits by consuming into margins. If you want to manage foreign exchange risks, follow the tips and tricks given above. These guidelines are based on Alan Safahi’s years of experience and up-to-date knowledge of the market.

Originally Posted: https://vocal.media/trader/how-to-manage-foreign-exchange-risk-an-essential-guide

How Does Foreign Exchange Trading Work?

According to Alan Safahi, a leading San Francisco startup founder, advisor, and entrepreneur, foreign exchange trading, also known as forex trading, is a global marketplace that focuses on exchanging currencies against one another and involves the relative value of one specific currency over another.

Research conducted by Alan Safahi of Orinda, CA highlights that forex markets are the largest and most liquid asset markets worldwide due to streamlined trading, commerce, and finance. The foreign exchange market has a colossal amount of liquidity, enabling people to actively trade trillions of dollars every trading day. In today’s article, we will discuss how foreign exchange or forex trading works? Read on!

Currency Value Measurement

A currency value is analyzed and measured through the amount of another currency it can purchase. The process is known as the price quote, which contains two prices: a bid and ask. People use the “ask price” when buying a currency. Likewise, traders use the bid price when selling currencies.

Bear in mind that a financial instrument’s ask price is usually higher than the bid price, meaning a bank purchases your currency at slightly lower prices. In contrast, the bank will sell it at a higher rate. Safahi advises traders to learn the basic and advanced concepts of a bid and ask price to measure currency value.

Liquidity Analysis

According to Safahi, liquidity refers to the activity levels of the market. Traders determine liquidity by analyzing the number of traders who are actively trading and measuring their total volume.

Because forex trading occurs 24/7, it is the most liquid market in the world. More liquidity means tighter spread, which favors everyone. Because trading is ongoing, traders can conduct it smoothly with plentiful liquidity. However, Safahi advises traders to keep an eye on price gaps to evaluate significant price shifts over the shortest periods.

Placing a Buy Order

Traders must focus on forex mechanics. You can trade at the click of a mouse on any trading platform. For instance, you will place a buy order on the USD/EUR currency pair and use a portion of funds from your account to buy the pair’s base currency. For example, you will buy the USD and sell the pair’s quoted currency, the EUR.

You will place the order with the broker, market maker or communicate with the Forex Interbank Market directly. Remember, the interbank market has big players. Safahi states that you can place orders to sell currencies that you don’t own.

Close the Order

Depending on your trading strategies, you will wait until your purchased currency has increased value relative to the sold one. When you are satisfied with the accumulated profit, you will close the order.

Likewise, the broker will perform the opposite transactions – selling dollars and purchasing euros. Bear in mind that you can also place a sell order to reverse the process. Understanding these concepts is essential for beginners to streamline their trading.

Final Words

It is often confusing for beginners to understand the concepts of buying and selling in foreign exchange markets because, in every trade, traders exchange one currency for another. It means there is always a “buy” and “sell” in every trading process.

Originally Posted: https://alansafahi.com/how-does-foreign-exchange-trading-work/

Businesses Benefit from Currency Exchange

Currency Exchange

Small-medium businesses play a crucial role in a country’s overall gross-domestic-product (GDP). According to Alan Safahi, a business advisor, entrepreneur, and San Francisco Startup Founder, small-medium enterprises contribute to 50% of the U.S GDP.

However, Safahi says that companies often find it challenging to manage cash flow, especially when they do business overseas with significant currency fluctuations, leading to uncertainty and risky profit margins.

Alan Safahi of Orinda advises businesses to use the right combination of cash management payment strategies to improve their cash flow and protect profits. For instance, Safahi recommends having foreign currency accounts because they are ideal solutions for companies that have several transactions in specific currencies.

Besides, having cash ready in a particular currency can help businesses make informed decisions, react quickly, and reduce risks. Foreign currency accounts also lessen the need for multiple currency transfers. In today’s article, we will give you five currency exchange strategies to benefit your business. Read on!

1. Use Spot Payments

Spot payment is an excellent strategy for businesses, allowing them to buy or sell currency at the current rate. Safahi recommends spot rates for smaller and less regular payments. You can also use it for rapid currency exchange. Make sure you look for providers that offer competitive spreads and low fees between buying and selling rates.

2. Hedge with a Forward Contract

It is an effective strategy that allows you to buy a set amount of currency for settlement at a predetermined exchange rate and a determined value date in the future. A forward contract is suitable for businesses, especially when they want to protect against fluctuations. It is also helpful for budgeting and money management. For instance, when you fix prices in advance, you can budget and plan easily while knowing their costs.

3. Leverage from Online Transfers

Online transfers provide effective and easier cash management, allowing you to increase payment visibility. Using online transfers enables you to set cost-effective invoices with overseas vendors. For example, Zed Network , a payment orchestration platform focused on cross border payments and foreign exchange (FX), offers an online FX platform, allowing business owners to manage global payments online effectively and easily at any time with the lowest costs and the most competitive FX rates.

4. Use a Budgeting Tool

Safahi recommends selecting the right budgeting tool that streamlines the currency exchange process and gives you more visibility over exposures. Use a budgeting tool that calculates currency exposures for different invoices automatically.

For instance, you can go to a single platform and evaluate your cross-border cash flows, especially incoming and outgoing cash flows in your home currency. That way, you can make informed decisions and mitigate risks.

5. Settle Invoices in Local Currency

It is crucial to settle invoices with your overseas vendors in the local currency. According to Alan Safahi, one in five suppliers from China adds 3–4% to U.S dollar invoices. The purpose is to cover fluctuations in foreign exchange. When you deal with vendors in their local currency, you can negotiate with them and get a discount.

Final Words

If you want to streamline your currency exchange operations, make sure you implement a solid plan. Don’t worry about where the rates of exchange go because after you determine the rate, it is still suitable for you even if the rate moves down the line. The five tips given above will help you optimize your currency exchange processes and reduce risks.

Originally Posted: https://safahi.com/5-ways-businesses-can-benefit-from-currency-exchange-b3c94b8cb175

Tips for Currency Exchange Investment

Currency Exchange Investment

Alan Safahi, the San Francisco-based startup company Founder and currency exchange expert, says that currency trading could be a stable and profitable way to improve your investment portfolio as long as you do your homework and hedge against volatility.

If you don’t have a thorough knowledge of global politics, macroeconomic, and geo-economics, however,  it is better for you to avoid doing currency exchange investing, according to Safahi who manages Safahi Global Advisors.

If you want to start a currency exchange business and earn profits, make sure you learn ways to create an investment strategy. Here are five beginner tips for a currency exchange investment.

1. Focus on Basics of Currency Investment

People trade different currencies on the forex market every day. The forex market operates between traders who are represented by brokers. Although currency exchange investment through forex is the best way, you can also do this by purchasing ETFs and investing in corporations.

Bear in mind that people trade currencies in “currency pairs.” The pair includes a “base currency” and a “counter currency.” The counter currency helps determine the base currency value. These currencies can appreciate or depreciate separately or together, meaning you have to monitor them closely.

2. Hire an Exchange Broker

According to Alan Safahi of Orinda, CA, beginners should hire an exchange broker or service to get started in the forex market. Professional service or broker has all the necessary knowledge and experience in forex trading.

A broker keeps an eye on the market and knows how to streamline the operations for profit. Many beginner investors find it challenging to trade currencies, but they can hire or use an authorized broker to safeguard their investment capitals.

3. Invest in Stable Currencies

The U.S Dollar, the Swiss Franc, the Swedish Krona, the Japanese Yen, and the British Pound Sterling are some of the most popular currencies for beginners to make investments. Safahi says that these are stable currencies with lower fluctuation risks, meaning beginners can earn good profits by investing in these stable currencies.

Moreover, as a beginner, you can also invest in the Singapore Dollar, the Australian Dollar, and the Norwegian Krone. Although these are stable currencies, the forex market is unpredictable, meaning anything can happen at any time.

Therefore, Safahi recommends looking at the market conditions of the time before making investments. A currency that is stable today can experience drastic changes within a matter of seconds. So, you have to be very careful and consult experts to keep things optimized.

4. Consider Various Market Factors

Before making a currency exchange investment, Safahi says it is wise to consider a few factors, evaluate them, and make an informed decision based on the results. Some of the critical factors you should consider are:

  • A strong GDP
  • Low Inflation
  • Low unemployment rate
    • High economic activities

These are key indicators that show the currency is stable enough, and making investments in it will help you earn profits.

5. Discover Opportunities

Although the forex market is full of opportunities, Alan Safahi, an entrepreneur, says that beginners should focus on discovering undeveloped and underdeveloped aspects of a nation’s economy. Alan Safahi advises that economic innovations, oil-&-gas discoveries, small business investments, and infrastructure development are indicators of a growing currency value.

Moreover, you must examine currencies that have gained value for the last couple of years. Once you have identified and analyzed these currencies, determine factors or aspects that led to the momentum or growth of the currency. Unlike other traders, if you focus on these underdeveloped aspects of a country’s economy, you can find excellent opportunities and make profits.

Final Words

According to Alan Safahi, a professional currency trader has an in-depth knowledge of countries, geopolitics, geo-economics, and socioeconomics. Beginners should explore the concepts of nationalization, sovereign defaults, corruption, GDP levels, employment rates, inflation levels, and governmental instability. Changes in these factors are directly proportional to fluctuation in currency stocks.

Originally Posted: https://www.allperfectstories.com/currency-exchange-investment

Trading Strategies during Covid-19

Although there are many trading strategies, not all of them are helpful during the Covid-19 pandemic. Alan Safahi, a leading entrepreneur, advisor, and San Francisco-based startup founder, says that businesses or individuals must choose a strategy that suits their personality type, risk tolerance, and available time. In this post, we will talk about five effective trading strategies during Covid-19. Read on!

1. Scalping:

Scalping is an effective short-term trading strategy for individuals and businesses. According to Alan Safahi of Orinda, CA it involves taking multiple profits of smaller sizes on trading positions within a short period.

Scalpers typically enter and exit training within a matter of seconds or minutes, meaning they need quick reaction times. If you choose this strategy, make sure you monitor price charges to predict future exchange rates and their movements.

2. Day Trading:

Day trading is an effective strategy for traders during the Covid-19 pandemic. It is a short-term strategy followed by traders during a specific trading session. According to Safahi, day traders usually avoid taking overnight positions, meaning they close out their traders each day. The purpose is to decrease exposure to the trading market movements.

Moreover, you must use trading plans based on short-term charts and their technical analysis to know the intraday price action. Focus on the breakout trading because Safahi’s research shows that it is the most popular one during Covid-19.

3. Momentum Trading:

Momentum trading, also known as swing trading, enables you to plan a medium-term strategy to identify, examine, and evaluate more market moves. If you want successful momentum trading, make sure you trade both with major trends and against them, especially when the market is correcting. Thus, you will hold overnight positions.

The relative strength index (RSI), moving average convergence divergence (MACD), and histogram are commonly used indicators in momentum trading. Moreover, you should start with at least $10,000. You may end up risking each trade if you fall below $10,000.

4. Trend Trading:

Unlike other trading strategies, trend trading is a long-term strategy used in the forex market. It involves focusing on the market’s directional movement or prevailing trends for a particular currency pair. Safahi recommends traders to purchase on pullbacks in up trends and sell on rallies on downtrends.

Once you have taken a position in the trend direction, hold onto it until the trend starts reversing or the market reaches its objective. During Covid-19, Safahi suggests traders focus on more technical analysis indicators, such as the average directional movement indicator (ADX). However, you can also focus on moving averages to smooth out the price action. That way, you can identify trends and watch for crossovers in the market.

5. News Trading:

You can use news trading strategies if you have enough budget and a solid plan for risk management. Bear in mind that news trading strategies are not suitable for beginners during the Covid-19 pandemic.

News trading strategies are usually based on fundamental and technical analysis and benefit from volatility seen in the market quickly after news releases. Alan Safahi recommends monitoring economic calendars for data releases and watching the forex market closely to identify support and resistance levels before the event.

The purpose is to analyze the results and react quickly after the event. Furthermore, you have to maintain discipline during currency positions management to streamline your strategy and take profits orders in the forex market.

Final Words

The Covid-19 pandemic has hit hard the entire world in terms of health, business, and economy. The unpredictable lockdowns, surging cases, and disrupted supply chains have significantly affected the business world, including trading markets. However, the five strategies given above can help you thrive in the Covid-19 era trading if you use them correctly. Until Next Time!

Originally Posted: https://vocal.media/trader/5-effective-trading-strategies-during-covid-19

What investors look for Pitch Deck?

investors

“Simply put, what investors are looking for in a pitch deck is a great presentation that clearly outlines a pain the point that exists today and demonstrates the Founder(s)’ unique position to solve this pain point at this point in time” says Alan Safahi, San Francisco entrepreneur and 6X startup founder and Principal at Safahi Global Advisors.

According to this definition, a presentation can become the most important document for your company. It is through this presentation that you will be able to captivate your audience and collect the financing you require to carry out your project.

In this article, we will be sharing some essential tips for you to prepare a winning presentation, which answers all the concerns of investors.

The tonality of your presentation

Before starting to prepare your presentation, you must define what tone you want to use in it. This will depend on what you want to convey to investors.

Add creativity to the presentation, and prevent it from being boring or unattractive. The best combination you can use is your creativity with high-quality content.

A high-level summary

Include a high-level summary. Two slides should be enough to start your presentation, highlighting the essence of your business.

You must include all the aspects that you want to make known to potential investors.

Explain the problem that your product will solve

In these slides you must capture the opportunity that your business represents, highlighting what are the needs or problems that it will cover.

You must make it clear what is the lack of the market that your product will be able to satisfy.

For this, you can use two to four slides, depending on the complexity of your project and the level of demand of your audience.

Describe your product in detail

According to Safahi, it is vitally important that you include a detailed explanation of your product in your launch presentation.

You must delve into what differentiates your product, why it is better than the competition that may exist, and how it will guarantee market satisfaction. Make sure you cover everything about your product including the proposed product/market fit and the answer to the question “Why Now?”.

Present your Marketing strategy

Once you have the audience captivated with your product proposal, you must present an effective marketing strategy.

This strategy will depend on the phase in which your business is, but you must demonstrate to your potential investors that you have objectively devised a plan to earn a space in the market.

Describe your team

One aspect that investors take into account is the team you have assembled to get the job done. Remember that they would be investing not just in your idea, but also in your effort and of course in your team.

Use some slides to introduce your team and show that it is made up of people committed to the company. You should also take the opportunity to highlight their strengths and the past relationships with you and each other Founders and team members so show a history of a team that has successfully worked together and gets along with each other.

Well-formulated financial projections

According to the criteria of the San Francisco advisor and 6X startup founder Safahi, this point is highly anticipated by investors.

You must clearly describe what the projections are for both income and costs of your company. Make sure to clarify how you will use the money you will raise.

These projections must be professionally and realistically calculated. Clear and objective information at this point is highly appreciated by investors.

Originally Posted: https://www.allperfectstories.com/investors-look-pitch-deck/

Do’s and Don’ts of Raising Capital

According to San Francisco entrepreneur and startup advisor Alan Safahi, the process of raising capital for your startup can be somewhat intimidating. Especially if it’s your first time doing it. However, to achieve what you want you must learn, strive and fight until you accomplish your goals.

To give you a little help in the phase of getting investors for your company, we will share some tips. On the one hand, we will be detailing the things you must do; and on the other hand, we will be telling you what you should avoid at all costs when searching for investors.

What you must do to raise capital

San Francisco advisor and Alan Safahi, who is a 6X startup founder with vast experience in fundraising in Silicon Valley, Los Angeles and Toronto, shares his experience indicating what you should do:

You must prepare properly

Raising funds for your business requires primarily mental preparation. It is very important that you be realistic and set expectations within what is objectively possible.

You must also be prepared for rejection, and to take this as a learning opportunity rather than defeat. The right investors for sure will see the potential of your venture, so don’t despair.

Focus on generating traction

Something that attracts investors is the popularity that you have gained in the market with your product or service prototype. So it’s a good idea to focus part of your effort on building a potential customer base from the start.

This can show investors the potential your company has, and all that you can achieve with the appropriate capital.

Lean on good advisors

Having the support and guidance of a good advisor is of great advantage for you. Look for professionals who believe in your endeavor, and stay in touch with them whenever possible.

Great advisors can provide you with unrivaled business guidance, and invaluable guidance on how to approach investors.

Define a good profile on financing platforms

When registering your profile in the different financing platforms, you must define your profile completely and perfectly.

Remember that investors will not only see your business proposal, they will also see who they will partner with.

Make sure to record all your experience, you should even record other ventures that have not been successful. All experience is valid.

What to avoid while raising capital

Alan Safahi, Founder and Principle at Safahi Global Advisors, details the things to avoid during the capital raising process.

Don’t raise more money than you really need

You may want to take the opportunity to raise a little more money, as financial insurance. But you should never abuse this.

You can get a little more capital to fix the situation, in case something doesn’t go according to plan, but you shouldn’t go overboard in this regard. Ultimately, your success depends on what you do with the money you have, and not how much money you have.

Don’t Talk to the wrong investors for your project

Don’t waste your time with investors who are not used to investing in projects like yours, or in companies that are in the phase you are in.

If they do not know the area, you will have to spend a lot of time explaining the details. That time you can invest in something more beneficial for you.

Don’t Meet with investors who have invested in the competition

Another thing you should avoid is talking about or presenting your project to investors who have invested in a company similar to yours. It doesn’t make any sense for you to talk to the people who have funded your competition.

You must avoid any type of conflict of interest.

Don’t stop studying investors before meeting with them

Before meeting with any investor, you should have studied them. You should know if this is the type of investor who is interested in companies like yours, and if he or she has experience in your area of development.

If possible, talk to other entrepreneurs who have received capital from these investors to find out what it is like to work with them.

Originally Posted: https://vocal.media/journal/do-s-and-don-ts-of-raising-capital

Why Successful Entrepreneurs Invest in Employees

Employees are the lifeblood of any successful company or organization regardless of size. So whether you are running a multibillion-dollar company or are a tech start-up, your performance comes down to the people employed by your company and whether they are fully aligned with your company’s ethos and vision for the future.

Alan Safahi is a successful entrepreneur and start-up founder based in San Francisco. And with over 30 years’ experience in business development in the tech industry, he believes that investing in employees is crucially important at all steps of your company’s development.

This investment begins at the hiring stage.

Hiring new employees

Hiring the right candidates is an important step that needs to be carried out very carefully. However many new start ups fail to gather the right people because they stick too rigidly to a tick box criteria such as academic and social background and are in a rush to get started.

By contrast a successful company, such as Google, has a more open policy that will favor talented candidates who demonstrate they have the right qualities rather than the right background. If a candidate already displays a willingness to develop and learn, this growth mindset can be developed to benefit your company.

Scouting and hiring the right employees takes time but is a crucial factor in the development of your company.

To ensure that your recruitment program is on the right track, calling in the services of start up expert and entrepreneur Alan Safahi will help establish a sound foundation for your company’s growth and development.

Investing in staff training is crucial

Investing time and money in training is paramount. Too many start ups run into problems because they fail to provide adequate onboarding for new candidates. But you can’t expect new employees to perform like fully integrated team members unless you invest time and training in their development.

By contrast a successful company will invest time and training in an onboarding and mentoring process so that new employees can quickly become fully integrated members of your team and are fully aligned with your company’s culture. This may require more time than you would like, but it will pay off in the long run.

Staff training and career development should be offered to employees throughout their careers so that as your company grows your employees can grow and develop equally.

Investing in employees is as important for start up companies as it is for multi nationals

If you are a startup company with a vision for the future, it is crucial to invest in obtaining the best and most talented employees for your team from the get-go.

Your company’s reputation is formed by the service you provide and in a highly competitive market, even small issues can make the difference between success and failure.

For example, if you get too many online reviews or negative social media posts complaining about your company’s performance it reflects badly on your whole company. This reputation can be hard to shake off yet can be caused by just one badly trained individual in your customer service department.

Alan Safahi is the founder of Safahi Global Advisors; an online reputation management company that will help you maintain a good reputation online and will prevent a bad review from ruining the credibility of your company.

In the early days of any company, teething troubles can lead to mistakes but a negative impression online can ruin your future chances of success. All this could have been so easily avoided with more investment in your employees.

Investing in your employees improves performance and reduces costs

When you invest in your employees it not only improves company morale it reduces costs.

Offering benefits such as health care cover, gym membership, subsidized meals or free breakfasts are a few ways of helping your employees feel valued. Offering added incentives such as performance-driven bonuses and awards and investing in ongoing staff training helps employees see that they have a long-term future with your company.

Staff turnover is a major expense. According to statistics, it can cost as much as six months salary to fully train a new staff member so even if investing in your employees seems initially expensive it is the only way to guarantee the success and the future growth of your company.

Originally Posted: https://www.allperfectstories.com/successful-entrepreneurs-invest-employees/

7 Tips for an Investment Pitch That Gets Funded

investment

If you have an excellent startup idea and require financing, you must prepare properly to obtain your first investor. Once you have the financial support of an investor, getting others will be much easier.

In this article, San Francisco EntrepreneurAlan Safahi, Principle at Safahi Global Advisor shares with you a little of his experience as a 6X startup founder and entrepreneur, detailing 7 tips for an investment launch that will be better positioned to get financed.

1. Select the right audience

One of the key aspects is to know very well the audience to whom you must address. The type of investors you should target will be determined by the phase your business is in, and by the amount of money you want to raise.

Make sure you know your audience, and design a presentation accordingly. Use your own language for them and detail each aspect of interest about your venture.

2. Tell a success story

You must have total confidence about the success of your business, and transmit it to your potential investors. Tell your audience what are the reasons why your venture will be a success, and how you will achieve that.

Focus your story on the future, on the profits your company will bring, and how the investment round will drive the valuation of your business.

3. Pass on your passion

The passion you feel for your new project is the same that you should make the group of potential investors feel.

Let them know in detail all the potential that your company has, how it will change the world, how you will do things in an original way, and what is your secret recipe.

Explain to them how their investment will allow you to revolutionize the market, and how it will help you take your company to the top of success.

4. Keep it simple and understandable

According to Safahi’s experience as an advisor, a good technique to transmit information is to do it in the simplest way possible.

Regardless of the level of mastery or knowledge of your investors, you should present the information about your startup in the simplest possible way. Design your content in such a way that any primary school child can understand it.

Avoid using extremely technical language. Design your presentation to explain the essence of your company in a matter of seconds. This is the most effective way to do it.

5. Describe the sales you have obtained

If your startup is already making a profit from sales, you should mention this point to investors.

One of the techniques that, like Alan Safahi, has used in the business world, is to present sales on a timeline. That is, indicate the amount of dollars you obtained from sales in a certain period of time. This gives investors a clear view of what you have accomplished.

Another important aspect is that you are prepared to explain how you can continue to sell and increase your profits. This is extremely important to potential investors.

6. Design a plan with well-defined deadlines

You must design a schedule indicating a well-defined and not very long term, to raise the money you require.

This period can be of great advantage to you in several aspects. On the one hand, having a deadline can encourage investors to seal a deal with you. It can also help you facilitate the contract process by reaching an agreement with multiple investors.

Remember to clarify to potential investors that you have a maximum term to reach an agreement.

7. Create and explain an exit and profit strategy for investors

Even if you are not thinking of leaving your business, investors have another point of view. It is very important for them to know what will happen in the event that their business relationship with your company ends.

You must explain precisely and concretely how they will recover their investment. How they will get their reward multiplied or compounded. Let them know that your goal is to achieve your success and theirs.

These tips have always been very effective in everything related to the startups that Alan Safahi and his partners at Safahi Global Advisors have advised in the past which should work just as well for any startup.

Originally Posted: https://vocal.media/journal/7-tips-for-an-investment-pitch-that-gets-funded

3 Megatrends You Can’t Ignore In the New Digital Economy

It will be imperceptive of any human on the face of the earth to disregard the shift the world is making into the digital world. The chance of excelling as an entrepreneur now requires a firsthand knowledge of the nooks and cranny of the digital economy. Here’s the sweet plot twist. Alan Safahi presents you with an article focusing on the megatrends entrepreneurs are oblivious of as opposed to teaching consumer behavior and basic economics every entrepreneur should know as of this moment. 

    #NO-CODE

The first trend you need to jump on is the “no-code revolution”. From time immemorial, a lot of business ideas from innovative entrepreneurs were harvested before they even got a chance to be planted. This was majorly because these businessmen needed some sort of technical expertise and magnanimous investments to run the software creation for the brilliant ideas they nurtured. In cases where these investments were not forthcoming, well, let’s just say there was no implementation. 

But, not anymore! #No-code means tools like Airtable and Bubble can help remove the hurdles that come with coding. Better put, a novice without any technical know-how of programming can build an application or website to support their business.       

    #BOTS

We can’t talk digital without talking bots. More often than not, the secret behind the success of massive digital companies is the incorporation of bots in their systems. It is heart wrenching to say that this doubles as the reason why it seems impossible for retailers to catch up with such companies. 

Take China for instance, the WeChat app and the commercial dealings that transpire on a daily basis is estimated to a billion. This statistics has only become a possibility because of the implementation of #Bots. 

The question shouldn’t be what bots can do but what can’t they do. Even without human interaction, they can keep the consumers going by generating leads, collecting sales, solving problems and even creating games and adventure. 

#VOICEAPPS

This is one trend I feel should be super easy to jump on. The truth is recording success in an online world and rising above other competitors will require creating your own advantages. What better advantage than using laziness as a tool? Online listening in the United State has risen to a stage where over 100 million people tune in to podcasts monthly. 

100 million! A hundred million people taking out time to listen to podcasts. Imagine the audience-reach if you decide to hop on this trend as an entrepreneur. The good news is the best is yet to come. The trend is #voiceapps and not #podcasts because the future as it stands promises a refreshing wave of new voice apps and even larger audience reaches.  

Alan Safahi believes that the rise into the digital world will not stop. The surest bet for you as an entrepreneur is to rise with it into this beautiful horizon of digital economy. It is not too late to get yourself acquainted with these megatrends. The future is now!

How Invest With A Small Budget

Invest

A very widespread myth about investing is that you need a massive sum of money just to get started, when in reality the process of building a solid portfolio/investment account can, and often does, begin with just a few thousand — or even a few hundred — dollars.

In this guide below we offer specific advice, from both our research partners and from industry tech titans like Alan Safahi, all with the aim of helping you get started and dive into the world of investing.

Starting Strategies

Regardless of whether you plan to invest a small or hefty amount, in safe bets or high-risk trades, these tips will help you get your plans off to a great start.

Automate Your Savings

If you’re able to reliably and consistently set aside funds every month into your investment accounts, you will reap large rewards over time. If you’re unable to do this, due to a lack of organization or willpower etc, but still want to reap these benefits, then set up automated systems that manage this for you.

There are apps on the app store that make it relatively straight-forward and painless to automatically set aside money for investments. Acors, Chime, Qapital, are some apps that all round up transactions from your debit/credit card and sends the difference towards your investments.

Other options are to check with your bank about its own apps and other ways you can automatically transfer funds from your spendings accounts towards your investments accounts and/or portfolio.

Pay down your debts

Before you start investing, evaluate what it costs you to hold onto debts that you already have, and begin to calculate how easily you can pay them off. High-interest credit cards have rates of 20% or more, after all, and some student loans have interest rates of over 10% . Those rates outweigh the average annual earnings of 7% or so that over time the U.S. stock market has returned over time.

If you have a lot of high-interest debt, it’s smarter to pay off at least a portion of it before you begin to invest. While you can’t predict the exact return on most of your investments, you can be certain that retiring debt with a 20% interest rate one year early is as good as earning a 20% return on your money.

Make sure you contribute the maximum amount of money to your 401(k) as well.

Consider Your Retirement

A key objective of saving and investing, even at an early age, should be to help ensure that after you stop working, you have enough money to support yourself. Your main objective when you prepare to plan for retirement should be to take full advantage of the government and employer benefits that they offer to facilitate retirement protection. Don’t overlook it if your business offers a 401(k) retirement plan. Alan Safahi, a Fintech CEO and industry titan, recommends that nearly everyone tap into their retirement plan benefits, and start paying into it as soon as possible. “Living in Orinda, located east of San Francisco, California, I’ve noticed a lot of people here take advantage of the multitude of retirement benefits offered by their employers, and that’s a welcome and optimistic sight to behold.” Alan said in a brief comment to us.

How to Invest $500

While it may seem small, $500 can go a lot farther than you’d expect. For a safe choice, put it into a CD from a bank or other lenders, or use it to purchase short-term Treasury bills. These can be purchased through online brokers as well. For both of these options growth isn’t high, but the risks are almost zero. Great way to start your nest egg.

For those seeking more growth potential in exchange for a little more risk, check out a dividend reinvestment plan (DRIP). You buy shares of stock, and your dividends are automatically used to purchase additional shares or even fractional shares. This is a great choice for smaller investors because the shares are purchased at a discount and without paying a sales commission to a broker. Buying just one share of a company’s stock will get you started. Alan Safahi recommends this as well, as a safe way to grow your investment over time, with the benefit of compounding.

Summary

The investment basics are simple: Maximize your growth and minimize your risk. Minimize taxes, fees, commissions. Make intelligent choices with your limited resources.

The hardest part of investing is when you’re getting started, but the sooner you do so, the more you can potentially make. Simple as that.

Originally Posted: https://safahi.com/how-invest-with-a-small-budget-50044fd96faf

Best Social Media Practices to Boost Your Personal Brand

Social Media

Nearly half of the world is on social media, according to the Digital 2020 July Global Snapshot. There’s simply no question that today, to build a personal brand, there’s nothing else that compares to the power of social media. The potential audience, exposure, and ease of use it offers makes it one of the best methods for anyone to boost and grow their personal brand. Everyone who is pursuing a way this should use it, and the reasons why are listed below.

According to Alan Safahi, a major Fintech CEO who has started and led many successful companies throughout his career, social media allows brands to develop a deeper connection with their audience, on a more sincere and personalized level. Thus creating valuable customer loyalty, which generates leads and providing the advertising/marketing exposure that money can’t readily buy.

A person can use the momentum that social media creates to turn what was once a small, niche brand, and grow it to a common name that nearly every household knows. A famous example of this would be Elon Musk using his twitter account to grow support for his companies, interact directly with his customer base, post updates, job listings, and respond to questions/comments. Three reasons why social media has become this formidable advertising behemoth it is today, and why nearly anyone can use this to grow their personal brand are listed below.

Social Media Makes Your Brand More Authentic

In today’s digital world, where everyone and everything is constantly demanding your attention, it’s become increasingly more difficult for a small brand to gain notoriety and attention. One of the most important factors for a brand is if an audience believes in it, and trusts it. This only occurs if you’re an authentic and genuine brand, or if they at least believe that to be true. “Authenticity and quality of our products/services is one of the key metrics that I direct my employees to be aware of at all times, due to their importance in sales and customer loyalty.” states Alan Safahi, who currently resides in Orinda, CA.

The close proximity of this bustling town to San Francisco, a major tech hub, allows him to see nearly every day the power of social media in action. Safahi has spoken at many events, and has direct connections with many of today’s industrial titans, and he is adamant that if a company or a person doesn’t take advantage of the power of social media, they will be at a severe disadvantage.

Additionally, he adds that you should make sure that you don’t make any outlandish claims, or false statements, as this will only cause you to create mistrust and decrease your customer loyalty.

Social media connects Your Brand to a Lifestyle

Consumer trends closely mimic social media, and if a business or a personal brand succeeds in connecting their brand to a way of life, or a lifestyle, they will achieve great market penetration, along with a host of other benefits. They will build a deep economic “moat”, and their customers will be extremely loyal to the brand, often even referring your product or service to their friends and family. Social media allows people to post, share, and learn about lifestyles on a scale unmatched by any other medium in today’s world. An example of this would be trends such as the Keto diet, the meditate for thirty days challenge, and the ever changing fashion styles of consumers, spurred by influencers through social media. Data shows that consumers “commit to the lifestyle trends, and will do anything in their power to reasonably achieve it.” as also echoed by Alan Safahi.

Further adding, “With the rapid rise of social media and the advent of capable devices in almost every consumer’s hands to access the aforementioned market, individuals and brands are essentially required to cultivate a strong online presence.” Alan Safahi has leveraged this online sector to his advantage multiple times, and it has offered him and his companies numerous benefits, his extreme success being a testament to this.

Social Media Allows You to Grow a Global Presence

Perhaps the most remarkable aspect of social media is its broad reach; All over the world users log onto their various social networks and consume content every day. A large marketing team and the budget required to sustain one are simply not needed, instead one needs to be tech savvy and have a thorough understanding of consumer sentiments. It levels the playing field, so to speak. It doesn’t matter who you are, where you’re from, it only matters what value you can offer to the consumers.

As a result of this, it offers everyone a chance to strike it rich and make it big. Alan Safahi explains that the use of social media has given numerous people he knows the opportunity to reach a vast swatch of people, from all walks of life, and connect them to their brand, service, or product. In conclusion, if you’re not already actively expanding your presence on social media, you’re falling behind, as your competitors most certainly are.

Originally Posted: https://vocal.media/journal/best-social-media-practices-to-boost-your-personal-brand

Turn Marketing Goals into Wins for Your Business

Marketing

As we know in today’s world, it’s common for people to decide to start their own business, as the costs associated with such a venture have been declining for decades. However, it’s much less common for these newly founded businesses to actually be successful. a business; So , to increase the chances of success, we have to develop strategies that help your business achieve its maximum potential in terms of sales, growth, and revenue. One such strategy that is very common in today’s world is Advertising. Essentially, marketing a product or service to a broad range of people, sometimes extensively, so that they’re more inclined to purchase from you. There are many other strategies, and below we discuss these.

Five Ways:

1. Advertising

Advertise more, because as usual “Generally, the more you spend on advertising, the better your results will end up being. It’s the best way to be seen by many and offers a way to ingrain in some of these people’s minds a desire to purchase a product or service your company offers. As great entrepreneur and founder of ZED Network Alan Safahi said, advertising is the fastest and most efficient way to promote your business.”

2. Marketing plans:

Marketing plans should be strong and up to date, in order to ensure a wide range of new tactics to sell more products to a greater amount of people, are in motion. . It’s This process of identifying customer needs and determining how best to meet those needs, is very important. searching, analysing, creating, and always delivering the best to the customer is crucial in doing this effectively. The main aim of marketing is to create, build, and maintain a relationship with the customers and deliver the best customer experience to them.

3. Be Conscious:

Once you have started your business and have developed your marketing department to a sufficient degree, you should then be alert of your company’s security against potential hackers or other bad actors.. One should pursue protecting your assets as soon as possible. As we know now, fraud is common. So, secure all of your information, accounts, and priorities etc.

And always be familiar with your competitors’ do’s and don’ts; Their ideas, pricing, ratings, and information. It is not about stealing your competitor’s information but knowing their strong and weak points. you to make more informed decisions, and it’s much easier to move forward.

4. Team Work:

Businesses thrive when they have a diverse team of people who can contribute individual ideas. Even the first characteristic perceived by great entrepreneur Alan Safahi is. Teams can often be better and better equipped than an individual in the task of bringing things to fruition. Teamwork includes efficiency, delegation, ideas, support, effective communication, etc. Teams are indicative of power and unity, making business more powerful overall.

5. Strong leadership:

Strong leaders must always connect employees together whenever possible, and develop teams that lead in the right way forward. Good leadership creates employee engagement and passion, which leads to higher levels of customer loyalty, service, innovation resulting eventually in profits. A non-partial leader is known to be a leading contributor of business satisfaction. Leading positively is equally important, as it affects the positivity in the team and strengthens businesses for success.

In summary, businesses marketing strategies need a strong mind-set, dedication, knowledge, customer satisfaction, time management, and Unity, in order to succeed in business.

Originally Posted: https://www.allperfectstories.com/turn-marketing-goals-business/

5 Best Apps Managing Projects 2021

Apps

Are you looking for ways to improve your business performance in 2021? Look no further! With a guide compiled based on numerous metrics and studies, and with input of Alan Safahi, a fintech CEO, the 5 best Apps for project management are ranked below You can use these apps to assist in hitting your goals for the year and managing your team more effectively. Keep scrolling!

#5 ClickUp:

If you’re a power user or business owner with a preference for end-to-end solutions, this is for you. The ClickUp App meets nearly all project management needs and it includes lots of amazing features you can use for any task. No, this isn’t one of the many complex apps you’ll find on the store these days; it is easy to navigate and has a clean UI.

#4 Kantree:

Kantree is the way to go if you’re tired of the regular, clunky spreadsheets or the existing email system of your team’s communication. It’s a new app that solves all project management problems adequately and provides users with one of the best platforms for effective collaboration.

At the core of the Kantree app, you’ll find a ‘cards’ unit that represents a lot of things. It contains many attributes; from description to assignees to attachments, and others, which all help businesses manage projects effectively.

#3 MeisterTask:

Yes, having plenty of features on an app is great; but sometimes, it’s just not necessary. Imagine having to deal with loads of irrelevant features day in day out — you might end up more frustrated and confused than you would’ve been otherwise, not using the app..

MeisterTask is the app to use if you are looking to manage your projects easily without stress. It has just the essentials and nothing more. No cluttering, no feature-stuffing, nothing at all. All you’ll find on the app is a dashboard, tasks, and then projects. Yet, it does a great job at solving all of the common project management problems quite well.

#2 Quire:

Quire is an app catered to companies or businesses that usually have difficulties dealing with large goals. In order for nearly any meaningful action undertaken by those assigned to complete projects to succeed, there must be a deliberate breaking down of projects into smaller tasks; and this is exactly what the Quire app does.

With this app, you can bypass the commonplace hurdles and hassles of handling large goals, allowing you to manage your projects . You can also take notes of your thoughts about the project in the app, and plan for them in advance, so that you can deal with them without difficulty.

As you would expect, the Quire app has an easy-to-use interface, and users can easily switch views to suit their taste.

#1 Pian.io:

Alan Safahi believes pian.io should take the top spot; Pian.io manages and delegates tasks better than many other apps out there. You’re sure to get the very best project management experience with this app, a sit provides all that is necessary for teams to work effectively, and more. The platform even includes a tracking system for inputs like status, spent time, assignee, priority, percent done, categories, and a lot more. It’s very easy to use and quite intuitive.

Another key feature that sets the Pian.io app apart from the others is its ‘file management’ feature. With it, businesses can easily share files with their employees.

Originally Posted: https://safahi.com/best-apps-for-managing-projects-2021-a7929d2c366a

Are You Business Owner or an Entrepreneur?

Entrepreneur

The world today is, generally, more ripe with opportunities than in the past.. The advent of technology has led to the formation of more industries, companies, and the like than ever before.. As a result, many individuals who never thought they could do business have found themselves in the world of business, perhaps making a great deal of income as well. In addition, the increasing rate of unemployment due to COVID-19 has motivated many people into starting their own businesses.

Many people have happened to stumble upon opportunities and made great businesses out of them, but only a small percentage have the proper orientation and mindset that result in a successful business.

What then differentiates a business owner from an entrepreneur?

1. Motivation:

What serves as the motivation for starting a business goes a long way in deciding whether the owner is just that- a business owner or not. It is not uncommon to find that people start Businesses because a single opportunity opened up and they were available while there are others who first notice a need no one else sees and therefore seize the opportunity to create goods and/or services that meet such needs. The one with the visionary mind that notices what other people don’t, or even when they do, goes a step further to create a solution.

Entrepreneurs tend to listen more to their customers, which is the way things should be, according to an expert, Alan Safahi, a fintech CEO.

2. Passion:

Both the business owner and the entrepreneur have passion. This passion is just placed differently. The major concern of a business owner is usually to make profit for the company, and eventually its shareholders. This mindset goes a long way in determining the way they handle the business, relate with customers, handle feedback and so on. On the other hand, an entrepreneur is first interested in the industry. They go into business because they love that sector of the economy. For instance, an individual discovers they love fashion and enjoy anything that goes along that path. For that reason, they start a business in that line to explore their love for fashion, and share it with others.

It is important to follow your passion while starting a company, Alan Safahi opines. Of course, entrepreneurs would want to make a profit in their business but it wouldn’t be the only reason they start the business.

Business expert Alan Safahi also says that while you may make a lot of money from business, it should not be the goals.

3. Mode of business building:

Many business owners would rather build the business around themselves, concentrating on working in the business and becoming an indispensable part of the business. The entrepreneur is entirely different. They work on the business as much as they work in it and build it in a way that it can run without them. An entrepreneur creates an exit option in the business, so that if they want to leave to pursue other ideas or ventures, they can leave and the business will still be standing.

Originally Posted: https://alansafahi.com/are-you-a-business-owner-or-an-entrepreneur/

Seven Ways Ensure Business Succeeds

No one starts a business with the mindset that it won’t succeed. Everyone wants their business to succeed. Many business owners don’t know what to put in place to guarantee their business’ success, however. Here are a few things business owners can put in mind to ensure their business’s success.

1. Have a business plan:

A business plan is as important as the business itself. The first thing entrepreneurs should do once they conceive a business idea is to make a plan. A business plan helps you determine the business structure, study the market, and determine the financial implications of your venture. It also serves to aid in identifying the personnels your business will require. It is the first thing to consider when determining if a business is going to succeed or not. According to a fintech CEO, Alan Safahi, business owners should take more time during the business plan to carefully go over all aspects of it.

2. Learn to manage time:

Time is very important to any business, especially a new one. A business owner should learn to be strategic about the numerous things that need to be done within the business. You should resist the temptation of getting your hands on everything and instead learn to delegate to others, with consideration placed on their strengths and weaknesses. This way, the business owner can focus their energy on other things that can only be done by them and over all, achieve effectiveness.

3. Make constant financial reports:

If you want to know how your business is doing, the first place you should look is the financial record. When you keep an up-to-date financial record, you can easily detect what is right or wrong with your business and set it right, on time. Expenses are often and sometimes, particular expenses can seem insignificant and not worthy of note. However, Alan Safahi, a business expert says that all these expenses should be properly documented to keep an eye on the cash flow and ensure regulatory compliance.

4. Be visible online:

The importance of taking your business online cannot be overstressed. If your business is to succeed long term as the world progresses, it should be online, right there in the faces of the people who need your goods and services. It has been shown that eighty-nine percent of customers search for the products online. If your business is to survive, have an online presence. Expert Alan Safahi opines that most people these days search for their information online.

5. Treat your customers well:

Your customers are very important to your business, so you should not treat them any less. There should be a system in place that allows your customers to register their grievances, suggestions, commendations and expectations without judgment.

6. Be flexible:

The business plan you make at the start of the business may have been the best at that moment but, as time progresses, things change; These include behaviour as well as the natural tendencies of the market. . Considering these factors, you should be willing to adapt some things in your business to the changes of the future.

7. Integrate other people’s ideas and suggestions

Anyone familiar with your business — employees, customers or other well-meaning individuals, can suggest some things to you concerning your business, and you should be willing to listen to them and learn from it. Possibly you can even integrate these suggestions.

Originally Posted: https://medium.com/@AlanSafahi/seven-ways-to-ensure-your-business-succeeds-2eb549be6cc4

Social Media mistakes Brands Avoid in 2021

Beyond a doubt, 2020 has been a completely different year for the world in its entirety. Individuals, families, and businesses have learned that, more than anything, things cannot be done the way they used to be. As individuals and families try to fit into the new normal, brands are also working hard to avoid being swept under the carpet. Social media has become more important to brands than ever before. Brands are therefore expected to pay more attention to the use of social media if they are to make the most of the situation. However, there are a few mistakes brands should avoid. Here are three such mistakes:

1. Redundancy

As much as people are interested in visiting various social media pages, they don’t want to read the same thing over and over again. If your audience is to take your social media page seriously, they should know that they are not wasting their time engaging your page. As much as possible, avoid repetition of content. Let your audience interact with various aspects of your brand, feed them with information and tips about the industry of your brand. No one wants to be bored.

You can be sure that when they discover that you’re repeating content, they would soon lose interest. Alan Safahi, a Fintech CEO, explains that it shows poorly on your business when customers visit your page for relevant information and can’t find it.

2. Irregular online presence

The last thing you want to do is to create an impression that you cannot be trusted to show up every day. As a brand, you cannot afford to go off even whenever it becomes inconvenient. Alan Safahi confirms that consumers online love consistency. Most definitely, your audience would not keep their fingers crossed hoping that you would be back. Business is competitive, no matter the sector of the economy you’re focused on, you could be back only to discover that you no longer have an audience to reach, or at best, you could meet a very passive audience.

      Alan Safahi concludes, therefore, that you need to keep your followers updated regularly if you are going to build a positive reputation for your brand’.

3. Staying silent on relevant issues

You should have it in mind that your audience belongs to a society and whatever happens in that society is inevitably going to affect them. Therefore, as a brand, you should not be passive when issues of grave consequences are at the forefront of discussions in the aforementioned society. If elections are set to take place in your states or locality in 2021, you can offer a few advice on civil responsibilities. Such discussions would resonate with your audience and are sure to help you build common ground with your audience. This rather simple gesture can turn a percentage of your audience into customers.

As a brand owner, if you put these points in mind and direct your efforts to avoid such social media mistakes in 2021, you can rest assured that your audience is sure to grow. This is a very good place for a brand to be.

Critical Process of identifying the Right Co-founder

Would you spend the additional time it takes to find the perfect co-founder, resulting in a better balance sheet and a more robust skill set available to your team, or would you settle for just an alright candidate? Getting the right co-founder helps to generate ideas and give a business a competitive edge. Working on a startup alone can be difficult, but at the same time, what is the process to identify the right co-founder?

Alan Safahi, an executive who’s been in the Fintech space for over a decade, believes that two heads are better than one when it comes to business startups. There exists a need to have someone that shares the same burden of the business with the founder. Not only this, they both share ideas, risk, complement each other’s skills, and have the same aims and goals — having a co-founder offers the entrepreneur a diverse host of benefits.

Identifying a co-founder is not an easy task, and I hope that the tips below will help you make the right decision.

● Ensure you have the same work habit:

Alan Safahi reveals that it is essential to choose a co-founder with the same common ground as you. This common ground might not be a perfect similarity but might be a bit of the same work habit. This aids efficiency and allows for perfect communication for both parties. It is good to ensure that your co-founder is willing to put in as much energy as you put in and communicate in a similar style. Discuss your work habit and be honest with each other when you consider putting forces together.

Complementary Skills:

A right co-founder should have the skills that the founder is lacking. The founder must try to identify his weakness and make sure that the co-founder chosen can work correctly in complementing the founder’s skillset. You want to ensure that you and your co-founder have different skills that can complement each other.

Go for Character:

Alan Safahi agreed that skills are essential, but that should not take the place of character. You can learn a skill, but nothing can replace it with compatibility, trust, loyalty, and personality. Choose someone you like. Co-founder character and morals are often as important as their skills.

Learn the other side:

As much as you identify a co-founder with complementary skills, Alan Safahi suggests that it is also necessary for the founder to eventually learn the skills and have an idea of what the skills entail for better communication between the founder and co-founder.

Communication is key:

How do you intend to get things done if you don’t communicate well with your co-founder? Each individual has a different mode, or process of communication. Some people prefer direct contact, while some might require communication through email. Others might prefer focusing on asking questions and getting around to the main point steadily. No communication style is terrible, though. Different communication styles, however, might not work well for startups, which are very volatile at the start.

Conclusion

The process of identifying the right co-founder is not an easy job; many factors need to be put in place before concluding. Consider having a co-founder that you trust, and one you have a level of mutual respect for. Remember, skills and networking alone will not save the business.

Originally Posted: https://medium.com/@AlanSafahi/critical-process-of-identifying-the-right-co-founder-c09e40370848

Why Entrepreneurs Should Plan For Failure and Not Success

Entrepreneurs

A lesson every entrepreneur learns: “Hope for the best but prepare for the worst”, failure is nearly inevitable for many entrepreneurs. It’s just a channel to the route to success. Every successful business has, at one point in time, failed. So tell me why you are scared of failure when you need to focus on using it as a platform to get better, and learn from your mistakes. Alan Safahi, a fintech CEO says, “Don’t view failure as the ending, rather view it as the beginning of your business.”

Always plan for the worst scenario when it comes to doing business. This makes you plan for the potential obstacles that lie ahead, such as intellectually, emotionally, and financially. Planning to fail and thinking to fail, however, are different concepts entirely. Planning to fail is being practical and makes you aware about every possibility that may occur. This will even gear the entrepreneur up to work. Thinking of failure is like conceding without even trying. This might lead to a decrease in growth, discouragement, and give room for doubt, according to Alan Safahi.

Do you wish to understand why it’s necessary to plan for the worst-case? The following tips below explain why an Entrepreneur plans for failure and not success.

It Ensures Progress: Having planned for failure makes it easier to move on with the business. It does not make you take things personally, which might occur if you have not planned, and were faced with sudden news that could be difficult to handle. Entrepreneurs should face situations as they’ve expected because they will be prepared ahead of time, but if he/she has not, it will come as a shock and affect team morale, efficiency, and psychology. I know you don’t want this to happen. That’s why you plan for failure, to ensure the progress of your business. Know that failure is part of the game you opted in, and, who knows, It might serve as a platform for something far more significant and better.

It Helps To Get Rid Of Fear: Most of the time, the fear of failure holds us back from exploring different opportunities and leads us to stick to our comfort zone. Once an Entrepreneur makes a plan for failure, it gives him/her the confidence to make potentially risky decisions.

Sense of Direction: Planning for failure gives you the room to double-check a decision you intend to carry out, thus giving you a path for redirection. Planning for failure provides clarity on issues that might go wrong, or have gone wrong in the past.

Planning For Failure Gives You Strength: Failure can indeed knock you down, but it can also be used as a tool to help get you back on your feet. It makes you feel stronger and builds you instead of tearing you down. This is why Alan Safahi believes that you should plan ahead, and plan for failure as an entrepreneur instead of success.

Conclusion

The journey from success to failure and failure to success is not an easy one at all. At the same time, dealing with failure in the wrong way will also keep you away from success. We need to resiliently accept failure sometimes, to learn from the situation and make ourselves stronger on the road to success.

Planning for failure as an entrepreneur, and not for success, is a plan for strength, a sense of direction, and the removal of one’s fear. Lastly, it’s a plan for progress.

Originally Posted: https://alansafahi.com/entrepreneurs-should-plan-failure-and-not-success/

Key Characteristics Every Entrepreneur should have

Having an idea and plan is not quite enough to see you through the business’s whole process. Success as an Entrepreneur is not just about the concept and how much money is poured into the venture. To be a successful entrepreneur, you have these essential characteristics, according to Alan Safahi, a Fintech CEO.

An entrepreneur refers to a person who undertakes the process of opening and managing a business, usually someone who has the ability to manage the risk inherent in the aforementioned process, as well as managing the venture, having a long term goal, and most importantly, staying profit-oriented. However, the fact remains that not all entrepreneurs are successful. While we see some success, we have also seen some entrepreneurs start well but, unfortunately, not end well. Why do you think we have this? You might even see certain entrepreneurs who have a great concept and a solid launch but in the end the company folds. Some might ask themselves, what happens along the way? Could it be that this entrepreneur lacks specific characteristics of entrepreneurship that produce a successful venture? Let’s talk about these traits that every successful entrepreneur should possess (In our opinion).

Key characteristics of an Entrepreneur

● Ability to Take Risk: The first characteristic perceived by Alan Safahi is the Entrepreneur’s ability to be a risk-taker. An Entrepreneur has to understand that risk is part of a business, which can either come with failure or success. Playing it safe never leads to winning in a company. Therefore, the courage and capacity to take risks are essential for entrepreneurs.

● Teamwork: The best business operates as a team where each member of an organization is saddled with responsibility and everyone has the mindset of focusing solely on the business’s future. This doesn’t just happen by chance. A good entrepreneur shares responsibility within the team and gives them room to operate in whatever role that they have been assigned. In addition to this, the business’s goal must be set so that every team works towards achieving it.

● Vision: Alan Safahi explained that every entrepreneur must be a visionary. He must be able to recognize how the business started, where the business is, and where he/she envisions the company being in the long run. Without this, forget about a successful venture. He or she would only be working aimlessly without having a direction and without reaching any point of success.

● Leadership: As important as a vision is, it takes a leader to transform the former into reality. Without a proper leader, there won’t be an assigned role to the employee, resulting in everyone working aimlessly, independently, and without a direction. A leader needs to inspire his/her employees towards achieving a common goal and be able to motivate them anytime they are down.

Creativity: One of the critical characteristics of entrepreneurs is the ability to be creative. An Entrepreneur must be able to do things differently without depending on the majority’s standard approach.

● Passion driven: Every business starts with a spark of an idea. Having a passion for a startup gives you the drive to turn your vision into reality. You must have the necessary motivation to keep the business going, even if there are ups and downs in the venture. The passion of the entrepreneur drives the business going, and is often the soul of the company

Conclusion

Think about how you can develop yourself and become an exceptional entrepreneur even as you consider the following critical characteristics provided by Alan Safahi. Always try your best to network with others, and to recognize the different partnership opportunities available at any given time.

Four Trends Startups Need to Know Now

startups

New trends are emerging as young organizations are finding their bearings in the business operation, founding new startups and leading in product innovation. ? Striving towards branding that dominates the last decade is crucial if you desire a breakthrough for your startup.

There exists a need to keep up with the latest trends in startups by acquiring new and valuable skills, and keeping up to date on recent news. Over the years, innovation and inclusion in changing market conditions have given a lot of small startups competitive advantages over the larger ones. Alan Safahi, a serial entrepreneur and Fintech CEO,  reveals that you should not be ignorant of new, potentially risky, trends as the nature of work is evolving.

Four significant trends that can give your startups an edge over others: Follow closely with the tips provided below.

Remote Worker: In recent years there has been a change in the system of performing duties in the traditional office as it used to be. The inception of smartphones, laptops, tablets and other technological gadgets has increased worker mobility, allowing office work to be carried out anywhere, anytime. Achieved technical means, it could potentially herald a new era of businesses built around serving these remote workers There has been a change in how startup owners are setting employee schedules as well because of the digitalization of office tasks. Startups around the world are getting into the game faster by tapping into remote workers. Alan Safahi encourages startups who haven’t already pursued outsourcing some projects to at least try it, as it may end up saying costs, time, and increase creativity in your team.

Captivating brand name: A first step that connects an audience to your brand is the brand name. Greater attention should be given when deciding a brand name, to ensure a name that draws consumer attention, and one that has a high retention rate in their minds. . Make sure your brand name is one that resonates with the values and ideas of a customer, or one with no meaning in their native language at all, as long as it isn’t offensive or alientates them. .

Computing Edge: We are in a cloud computing era, where machines can offer a stable computing environment with very little to no A startup that makes use of cloud computing, by shifting their processes online, has a higher potential to revolutionize the industry they’re in.

Artificial Intelligence: A niche of computer science that simulates human intelligence in a machine. Have you ever thought about a machine doing exact things human intelligence can do? Imagine applying it in decision making, pattern recognition, creative usage. Artificial Intelligence is no longer a dream concept, but has offered great use cases in business and marketing as well as analytical tools, for customer service platforms, digital ads, and of course the smartphones we all have.

Conclusion

Never neglect social media interactions. This is one of the fundamental ways audiences personalize themselves with the product.

Originally Posted: https://www.allperfectstories.com/trends-startups-need-to-know-now/

Amazing Apps to Increase Business Productivity

Amazing Apps

The world has gone digital, and the business world is not left out. The productivity of a company is essential to check the activity and management. 

One of the greatest successes of app developers is designing tools that can help workers and their business. Many applications help improve performance and the entire business world.

Here are some amazing apps that help increase business productivity, from prioritising tasks, sharing projects with teams, fighting stress, etc.

1.Trello 

As the saying goes, “Two good heads are better than one.” Trello is a good app to help optimize performance and increase productivity when carrying out any teamwork. The main feature of the Trello app is its high level of interactivity among group members, to such an extent that any member can consult others’ work. It is simple, flexible, and accessible.

2. Google Calendar

Another basic and simple tool with which you can have a well-organized calendar. Although you also have your schedule to organize daily tasks, Google Calendar allows you to have well organized “important events” such as meetings, doctors, trips, etc.

Alan Safahi, a CEO and 6X serial entrepreneur, believes that proper planning serves as a great guide for business productivity. With Google Calendar, you can plan and schedule your business activities more efficiently.

3. Evernote

Evernote is one of the dominant applications in the competitive world of work schedules. Its goal is the organization of personal information utilizing the note file. Also, you can attach images, documents, and can share them via email from this app. Evernote also has a feature with which you can scan receipts, documents, and so on.

4. Freelancer

Freelancer presents itself as the largest community of freelance professionals in the world. A platform where you can find collaborators to develop specific tasks. It also allows you to organize types of delivery, tasks, manage finances, or carry out marketing campaigns. 

5. SurveyMonkey

If you’re one of those employees responsible for checking how the team’s professional development is going and obtaining your customers’ feedback, SurveyMonkey can help you with that.

This is because this application can optimize and receive questionnaires in real-time that can be sent on different platforms, such as social networks.

6. Canva

It is a very intuitive design and creativity tool that allows every worker to include small traits of a creative profile. With the Canva App, you can design flyers and cards for your business.

Alan Safahi advises entrepreneurs to use their creativity to enhance your messaging and cut costs, especially in the crucial early stages when reacting to customer feedback and product-market fit is essential and cash is like oxygen and in short supply. 

This application is the only one on the list that we recommend using in an Internet browser since it focuses on graphics production. So, for instance, if you need to make presentations to run your company or even put together charts that show possible weekly and monthly returns, the Canva app will give you the most varied options for you to do so. 

Also, something that can also be quite relevant is its function of calculating the size of what you are designing in centimeters and pixels. 

There are more amazing apps online to increase your business productivity, and they are all easy to install.

Originally Posted: https://www.allperfectstories.com/apps-increase-business-productivity/

 

What it takes to be a Successful Entrepreneur

Successful Entrepreneur

Being a successful entrepreneur requires a lot more than having a good idea. 

Having the best idea is a good starting point, but you have to put your ideas into actions, taking note of the following tips:

1. Understand what you want to do

Yes, you want to be an entrepreneur, having your job, and not work for any boss or CEO; but do you understand what entrepreneurship entails? 

“It may be cool to start your own business and you may also make a lot of money but these should not be the ‘goals’ but the byproducts of a startup” according to entrepreneur, 6X Startup Founder, and advisor, Alan Safahi.

To be a successful entrepreneur, you have to learn the basics of captaining your ship. Being a successful entrepreneur requires you to take risks and not to sit in your comfort zone. Stepping out of your comfort will help you to learn and relearn.

2. Ask questions

A successful entrepreneur is a good listener. First, you have to listen to yourself and then listen to your mentor(s). But “most importantly, you have to listen to your customers” says Alan Safahi.  How do you listen? By asking questions.

What questions should you ask yourself?

  • Why do you want to be an Entrepreneur?

Is it because of your boss, or to prove your siblings wrong that you can also do better, or maybe you feel it’s a quick means to make money?

Yes, money is good but if you want to be an entrepreneur because you want to make money quickly, then you have to get rid of that idea as you won’t get anywhere with such a mindset.

Maybe the reason you want to be an entrepreneur is to find a path to your passion or solve a problem for yourself or your friends.

Alan Safahi suggests that a purpose-driven venture that “solves a problem you are intimately familiar with and creates something that people are willing to pay for” is much more likely to succeed.

  • If you could spend your entire life doing one thing, what would it be?

Would it be something you enjoy doing or something you have to do just to make money?  Alan Safahi advises to “follow your passion and do what you would ordinarily do for free as a hobby”

What questions should you ask your mentors?

Ask your mentor(s) questions like:

  • What worked well for you?  
  • What would you do differently?  
  • How would you solve a difficult problem?
  • Where do you get your inspiration from?
  • What keeps you up at night? 
  • What advice do you have for me? 

What questions should you ask your customers?

  • What do you like or dislike about our products?
  • What would you do differently? 
  • Would you recommend us to your friends?
  • If not, what would we need to do in order for you to enthusiastically refer people to us?

3. Build Relationships

Your environment is your biggest influence. To be a successful entrepreneur, build a strong relationship with people who share the same ideas and values as yours.

Surround yourself with people of value who always motivate you to do more and better and not people who justify your excuses.

4. Develop the right habits

Develop these two major habits:

  • Take care of your body: sounds strange right? But your body is the engine that processes all ideas and actions for a successful Startup. This isn’t a fitness article but strife to stay healthy and keep fit always. You can maintain a regular workout routine, eat a healthy diet. Create time for your health; else, you’ll create time for your illness.
  • Learn to embrace uncertainty

Successful entrepreneurs possess the attribute of embracing uncertainty. They achieve this by practicing how to get out of their comfort zones. 

Robin Sharma says, “The fears we don’t face becomes our limit.”

Do something outside your comfort zone, and everything will fall in place.

Originally Posted: https://www.allperfectstories.com/successful-entrepreneur/

5 Fundamentals of Growing Your Startup

Growing your Startup doesn’t happen by magic. If you have a business idea and want to grow it into a business, there are some essential tips you shouldn’t miss to make it successful. 

  • Everyone wishes to have a business of their own, but they don’t have a clue on what it entails.
  • There have been difficult days for the economy, and some argue that the worst is yet to come.
  • Entrepreneurs must make the right decisions to improve their business performance.
  • To make the best decisions, one has to maintain a positive attitude.

This article discusses the fundamentals of growing startups for potential entrepreneurs.

What is a startup? 

A startup is a business created by an entrepreneur with the sole aim of solving a problem either with goods or services. Startups are businesses in the embryonic stage of development. Most startups are funded by investors who believe it will yield a great return. Hence to have a successful business, Entrepreneurs must have proper thinking to know what type of business & how to run it properly.

How to Grow your Startup 

Many entrepreneurs have drawn inspiration from Alan Safahi, a six-time startup founder with over 30 years of experience in the information technology, telecommunications and payments processing segments.

After knowing what type of business, where to develop it and how much budget you have, now you must take care of the details so that everything happens in line with your plan.

Let’s evaluate them.

  1. Business plan

As an entrepreneur, you have to be clear about the future of your business. This involves having the Vision and Mission of the company well defined, as well as the set of values ​​that govern the behavior of work teams.

Alan Safahi advises every entrepreneur to take proper adequate time in drafting a good business plan. A good business plan brings your vision to reality.

  1. Time management 

Time is a limited resource, and there must be a fine balance between operational or strategic activities in a company. While startup founders should personally get involved in all aspects of a new startup dealing with their clients, long term business owners should focus on strategic activities rather than falling into the temptation to “get their hands” on operational activities.

  1. Good customer Service

Growth should not sacrifice service levels, nor the quality of product or service delivery. Customers want satisfaction at all times, and that means giving them more than they bargained for.

Good customer service will not only increase loyalty but will also be a source of future recommendations. It is advisable to ask for feedback from customers to know how you can improve your services.

  1. Finance

Financial reports must be available to assess business performance. An essential element is to know the financial stability of the company, which will reveal the sales that need to be made to cover costs and expenses.

Alan Safahi suggests that entrepreneurs document expenses and keep a record of cash  flow to have a clear financial record. At all times, it will be crucial to have control over the structure of cash flow.

It is also fit to review and understand the Income Statement and the Balance Sheet at least once a month. Actions must be taken to:

  • reduce costs
  • review credit options and
  • Settle debt and interest rates
  • Manage burn rate to allow for a minimum of 12-18 months runway
  1. Online presence

Many customers use the web to search for products and services. If you want to get results and be found by your potential customers, it is essential to build an online presence for your Startup. There are three elements to take into consideration at this stage:

  • Website: Any business should have one. It connects you with your customers.
  • Search Engine Optimization (SEO):Once you have your website, ensure that it is found by those who search online. Google data shows that 89% of people search for products through search engines.
  • Social media: Social Networks are also an essential part of your Startup; they help you interact with customers and increase their loyalty to your product.

Entrepreneurs who make the best decisions and execute the right plans will always reap the rewards. However, it is also essential to have a firm foundation so that growth becomes fun and not a headache.

Key takeaway: to have a successful startup, you must have: a good business plan, an online presence, proper use of finance, adequate time management and good customer service.

Originally Posted: https://www.allperfectstories.com/5-fundamentals-of-growing-your-startup/

How CRM Analytics Work

Preamble

  • CRM analytics tells you whether or not your customers are reached by the sales and customer service team and provides you a better understanding of your customers
  • They enable you to understand the behaviors of your customers and the success rate of your campaign(s)
  • They provide an indication of the success rate of the business. 

This articles was created for any business owner or potential business owner that wants to know how CRM analytics work:  

Meaning of CRM analytics

CRM provides the data that explains the performance of your company and the effectiveness of the customer service. It also gives excellent data on the behavior of your customer so as to facilitate decision making. 

In practice, CRM software is used to get the CRM analytics and make all the processes of data collection easy and effective. 

Importance of CRM analysis

According to renowned entrepreneur and business advisor Alan Safahi, the main benefits of CRM analytics are to make appropriate decisions in regards to your customers and make changes in the area of customer service appropriately. This can be achieved through:

  • Evaluation of customer service: CRM analytics will tell you more about the performance of your customer service. The figures will guide you on how to do that and the right direction to channel it.
  • Precise data on the customer: Irrespective of what you will be using your customer data for, CRM analytics will provide you with accurate data. 
  • Proficient lead generation: CRM analytics will better outline the efforts leading to sales. It enables you to choose the areas to improve on that are leading to sales and to avoid efforts on the areas that are leading to double sales. 

Types of CRM analytics to track

Alan Safahi believes that, although there are many variables that CRM analytics measure, these are the most important ones:

Before sale CRM analytics

Of course, your customers buy from you only after they have learnt about your product. This means that most of the interactions occur even before sales.

  • New leads: The marketing department may likely spend lots of energy sending proposals or calling the prospective customers, therefore tracking such activities will be worthwhile to see which of them leads to a purchase. 
  • Prospects: Check the activities of your sales team with the prospects. 
  • Website engagement: Most of the CRM programs will tell you who visited the website and the activities they performed. These are great data to use to make an informed decision. 

After-sale CRM analytics

  • If you have impressed them and they are buying from you, there is no assurance they will continue to buy. It becomes necessary to get some after-sale information. 
  • Problem tracking: Have proper documentation of what your customers said about your product. If they raised any problem, solve them and this will keep them coming back. 
  • Additional purchases: if you sell them products and they buy some others from you, then it’s an indication that of product correlation that may come in handy for future marketing efforts 

Other Data to Analyze are: 

  • Purchasing patterns
  • Segmentation
  • Spending
  • General project management

Verdicts:

CRM analytics is an efficient strategy to ensure the prosperity of business. It gives reliable data on the success of several efforts and the possible changes and directions to channel them.

Originally Posted: https://alansafahi.com/how-crm-analytics-work/

Guide Better Online Reputation Management

When it comes to online reputation management, people have different opinions. Some think it’s just about what is being said about you on social media while others think it’s just a matter of public relations. And there is the group that doesn’t know what it means and the impact it has on businesses if it’s not put into consideration.

This guide by SEO and ORM expert Alan Safahi will help you better manage your and your company’s online reputation management. 

Be Conscious of what is being said About you Online

You have to be up to date about almost everything being said about your business online- questions, reports and people’s reviews, either good or bad.  This should be the first mechanism to put in place so as to know when there is an imminent threat to your online reputation.

React to Criticism and complaints politely and professionally

“When you are criticized or when a complaint is made, reply to them in a very polite and professional manner,” says Alan Safahi.  “This not only de-escalates the situation but also sends a signal to the public that you are concerned about what your customers feel about your brand and are willing to improve on ways to serve them”.

Learn from past mistakes

Issues that have been addressed before should not pop up again.  You have to make sure that mistakes are not repeated or else people start to think you don’t have proper policies and procedures in place which is bad for business. Customers love brands that are progressive and are always evolving for the better.

Work on the points your critics make 

This might not go well with a lot of brands, but then in order to project a good online reputation you have to be able to entertain constructive criticism and work on them to better your brand even if it’s difficult. There should always be room for growth.

Go after people who spread false information about your brand

There are a lot of detractors on the internet nowadays spreading different kinds of untrue information and fake news. Any time this is spotted it is best if you meet them head on. Call them out and threaten them with legal action if possible. Make them understand that you are against any form of fake news and misinformation, which sends strong warnings to anyone or any group that might want to do that in the future.

Lastly Alan safahi believes that nobody can do it all by themselves. It’s good to ask for help if you sense that you are not holding up your online reputation management well. Meet professionals, ask them for advice and if you are capable of employing a professional, then that’s even better. A lot of brands think online reputation management is not important and oftentimes they just do little or nothing about it, hoping that the negative post or news go away on their own.

Times are changing and the world is a global village now and everything stays online forever. It’s not wise to totally ignore how your band perceived online.

Originally Posted: https://www.allperfectstories.com/better-online-reputation-management

Dos and Don’ts of ORM

Online Reputation Management

Online reputation management (ORM) is the process of putting strategies in place that influence the perception and reputation of a brand or company in their online presence.

It must be noted that ORM services are not inexpensive as experts need to be employed to carry out these services. In this post, digital marketing, and SEO/ORM expert, Alan safahi, will discuss some of the Do’s and Don’ts of online reputation management.

Don’t Procrastinate

Don’t wait till you get bad reviews before you start practicing online reputation management. Business owners sometimes don’t see the need for ORM until they have a bad review online which is not a good idea. “ORM should be considered from the very outset of any business in order to create a solid foundation to the reputation of the business,” says Alan Safahi.  When a  business has a good foundation in ORM, it can better handle bad news and help reduce any lasting damages to its reputation.

Do respond to customer reviews 

It might seem exhausting to reply to customer reviews, but it’s a very important part of ORM and it should not be left out.

When replying to customer reviews, you must do it professionally and politely, resisting the urge to use harsh words or assigning blames.

Don’t employ inexperienced ORM personnel

Business owners might be tempted to employ personnel or agencies with little or no ORM experience because of the low budget they have provided for ORM.  This is not an area for cost-cutting since an experienced ORM team can do a lot of damage to your business.  It is highly recommended that you use only proven, experienced ORM experts for this sensitive position.

Do report any review that seems fake or wrong

As much as you should reply to customer reviews with utmost urgency and expedience, Alan Safahi recommends that you promptly report reviews that look unreal or fake.  Google sometimes takes down such reports, which is good news, but it might take a while so be diligent in reporting these fake reviews..

Do Periodic Checks

If you don’t care to find out what people are saying or what people think about your brand, then there is no point for ORM to be practiced. Make sure you keep yourself posted about the news and conversations going around about your business, so you know when your reputation is under attack.

Don’t sideline your customer service 

“A brand or a company’s good customer service makes online reputation management very easy and influences the reputation of the brand in a good way” according to Alan Safahi.

A lot of unnecessary tantrums can be avoided with good customer service. Business owners are advised to make sure their customer service is on point so as to maintain a good online reputation.

Do create quality contents on your page

When the contents of your company page actually speak to the customer and answer their questions, it gives the customer a feeling that your business is genuine and purpose-driven.  Fluff and irrelevant content can be a very bad signal and is not good for ORM.

Originally Posted: https://www.allperfectstories.com/dos-donts-of-orm/

Lifestyle Startup Founder

Lifestyle Startup Founder

Starting anything at all is not an easy task, it gets even more difficult when you’re starting a business which is an endeavour that takes a lot from the startup founder. 

A few things are expected to change such as routines, schedules amongst others. Many startup founders do not realize early in their journey how much their new business is going to affect their lives and they are often not prepared for such changes. There are therefore a few things startup founders could learn to improve their lifestyle.

One of the most important things an entrepreneur should learn very fast is time management. More than anything, you would have to spend more time working than you probably have been accustomed to. If that is going to be the case for the next few years, you should be getting prepared for some lifestyle changes.

The first thing you should learn as an entrepreneur is that you could be working round the clock. Many entrepreneurs find out that they are working almost throughout the day. A new idea could pop up in your mind at 2am and it could be 6am before you turn off the lights again. You have to get prepared for more work. You should study the experiences of other entrepreneurs such as Alan Safahi, a six time startup founder to understand what you are up against. 

For a startup founder, learning how to say no could be a life-saving skill. You have to realize that you cannot attend every function, you cannot be at every brunch, you cannot attend every meeting. These meetings are indeed sometimes, very crucial for networking and of course, business growth. That is why you should be able to determine which ones require your physical appearance more than the others. If not, you would find yourself socializing more than you are actually working, which of course, is bad for business.

On the other hand, you could learn to delegate if you can. If you already have team members or a partner, it would be such a great idea to learn how to transfer some of the work or outings that do not necessarily require your personal touch to them. 

You should also know that stress is likely to set in and you definitely should avoid that as much as you can. Stress is bad for business. Sooner or later, it would start to take its toll on your effectiveness at work. 

A startup founder should learn to be part of a community. There is no need to isolate yourself or your business from other people who are also entrepreneurs. There is so much to be learnt from a community of startup founders who have gone through what you are going through now or even have the same experiences as you at the moment. Apart from experiences, startup founders can access funds when they are part of a community. 

If only for encouragement, apart from the network, being part of a community is good for an entrepreneur. You can join communities where you can learn from business experts like Alan Safahi

Also, as startup founders, trying to nurture a new business, there is often the huge temptation of neglecting some other areas of life. Learn to fight that temptation as hard as you can. Connect with the people in your life and do not cease to enjoy life itself. 

Finally, you must be prepared to not get paid for a long time. “To a startup, cash is like oxygen” says Alan Safahi.  “You have to be very diligent with your expenditures including but not limited to what you pay yourself and your co-founders and early employees”.  

Most startups run out of cash and fail while trying to achieve product / market fit.  It usually takes 3x as much time and costs 3x as much as expected so it is very important for startup founders to conserve cash as much as possible.  

This bootstrapping period could last anywhere from 2-3 years so preparing ahead of time and lowering your personal overhead and financial commitments can make this period a lot less stressful.

Originally Posted: https://alansafahi.com/lifestyle-startup-founder/

SEO Versus PPC

To website owners, visibility is as important as content itself. Similarly, for business owners, “the success of the business may hang solely on its site’s visibility.’ according to 6X startup founder Alan Safahi.  Therefore, it is not out of place to find that website owners put a lot of work into getting their pages seen. 

Two paramount ways of achieving visibility are Search Engine Optimization SEO) and Search Engine Marketing (SEM), a subset of which is Pay-per-click (PPC). What should inform an owner’s choice and why is one option better than the other?

More than anything, the goal of your marketing should decide the strategy you choose. Would you like people to see this now and fast or would you rather build a stable audience for a long while? If your contents have to be out there quickly, you should be considering PPC. On the other hand, if you would rather build a steady audience, SEO is your best bet.

Is one truly better than the other? Here are a few pros for SEO.

1. The cost

It would be wrong to make you believe that choosing SEO will relieve you of all forms of cost. Although the costs you incur here are not statutory, if you would engage SEO effectively, it will not come cheaply. However, in comparison to PPC, SEO is more cost effective both in the short and long haul.

2. Credibility

Search engine optimization strategies are structured in such a way that they put you to work. While that may sound like a disadvantage, it really isn’t. Consider strategies such as quality content and inbound links which require some work to make happen. The good news is that these SEO strategies also bring your website the luxury of credibility because they help to create trust in the mind of users.

3. Sustainability

SEO strategies can be sustained over time and the results that they yield are equally long term in nature. SEO expert, Alan Safahi believes that the results you get through SEO strategies last for a longer period of time. “The rankings on search results may not happen immediately, but once they do, your page may remain there for a very long time which in the end, is really good for your webpage” says Alan Safahi. As earlier pointed out, your goals would determine if sustainability in the long haul is a better deal for you. 

One major downside that you should bear in mind as you decide whether SEO strategies are best for you is their lack of speed. SEO strategies do not yield immediate results. In fact, if you wish to gain anything from SEO, you need to be consistent in your efforts over time. 

Pay-per-click 

Using this strategy, you go all out to engage paid advertising for your webpage. Here, you should expect to incur some costs. 

A major advantage of PPC is speed. The results of paid advertising are almost immediate. According to Alan Safahi, once you make payments, you can expect your results as soon as possible. For as long as your contract lasts, your page would continue to rank high in search results. 

However, the downside to this is that your rankings remain for only as long as your contract stands. This may turn out to be a disadvantage if long term results are needed. The results created through paid advertising are quite difficult to sustain, says Alan Safahi

PPC is awesome for brand visibility. If you need to get your page out there fast, you should be considering Pay-per-click. It removes your page from the usual long queue experienced using SEO and puts your page right on top where your audience is bound to locate it easily. 

Originally Posted: https://www.allperfectstories.com/seo-versus-ppc/

Job Opportunities and Career in Digital Marketing and SEO

Technology has a significant impact in all aspects of our lives. With technological advancements come various changes, in world view, lifestyle, human relationships, certain societal values and of course, career focus.

Technology has taught individuals that work space can be created without physical contacts. As unemployment grows in various economies of the world, technology continues to be an easy way out.

Digital marketing and SEO are the latest gold mines created by technology. Here are some amazing job opportunities and careers that you can explore in digital marketing, following the example of marketing gurus like Alan Safahi, who have built successful careers in digital marketing.

1. Content Developers:

If you love to write, this may turn out to be a very enjoyable career for you. As a content developer, your job would require that you understand a company’s objectives, their prospective customers and then produce contents that can easily gain and maintain the attention of that audience. You would have to constantly engage your audience, keeping in mind that they are prospective customers. Your discussions should be on topics that are relevant to the company’s products or services. Two skills are of utmost importance here; writing skills as well as Search Engine Optimization.

2. SEM Specialist:

A company that needs constant traffic on their site would definitely need a search engine marketing specialist. The main duty of an SEM specialist is to improve traffic on the website. Site visibility is the major reason a company would hire an SEM specialist. This job can be done based on a freelance contract. This is an excellent job opportunity for individuals who would like to explore their chances with different companies. A good knowledge of SEO and SEM strategies is needed to excel in this career.

3. User Experience Designer:

This is quite an interesting job opportunity. It combines both technological prowess and a firm knowledge of human psychology. It is the responsibility of this person to ensure that users have a pleasurable experience as they try to access the company’s site and while they are browsing through the site. You have to make sure the site is easy to navigate, the use of language is simple and self explanatory, and generally, they can get the information they need as easily as possible with the aim of increasing sales and retaining customers.

As San Francisco based SEO expert Alan Safahi points out: ”A good UI/UX design team can make a difference between a $100M exit and a multi $billion exit”. Is it therefore no surprise that good UI/UX designers are in such high demand in technology based companies around the world.

4. Data Analyst:

The duty of a data analyst is to gather necessary information. This is mainly information collected from users, who are of course potential customers, over time. Data analysts are saddled with the responsibility of collecting, classifying, analysing and interpreting data. Then, they apply their findings to future digital marketing strategies.

5. Social Media Marketer:

Social media marketing is a very interesting job opportunity in digital marketing and one of the most rewarding ways of turning what you love to what you do for a living. It would be your responsibility to keep your audience engaged across various social media platforms. This could include creating relevant contents, effective use of pictures and designs as well as answering frequently asked questions. It is quite an effective way of improving traffic on the company’s site and of course, improving sales. As SEO and Digital Marketing expert Alan Safahi points out, the new generation loves to make discoveries through their smartphones. This is a major justification for social media marketing.

6. Marketing officers:

This career choice requires a firm understanding of traditional marketing strategies as well as digital marketing strategies. These persons are saddled with the responsibility of overseeing all the marketing activities within the company. They must be efficient in both SEO and SEM strategies if they would be effective on the job.

Originally Posted: https://vocal.media/journal/job-opportunities-and-career-in-digital-marketing-and-seo

SEO Versus SEM

SEO

Search Engine Optimization (SEO) has to do with upgrading contents so that they can be found in search engine results. Search engines consider quite a number of factors before they rank sites for search results. Some of these factors include content, keywords, backlinks, reviews and others. Search engine optimization can either be onsite or off-site. The essence of SEO for web pages is to enhance the traffic from search engines. 

While Search Engine Optimization helps a web page get visibility, Search Engine Marketing (SEM) does the same but takes it further. SEM involves SEO strategies and more. They are both digital marketing strategies but SEO is a subset of SEM”  according to San Francisco businessman Alan Safahi, a digital marketing and SEO expert. 

SEM as a digital marketing strategy serves the purpose of helping websites gain visibility in search engines. In SEM, this can be achieved in two ways: SEO and paid advertising

SEO generates organic traffic. SEO strategies do not require any form of payment. Whether you choose to improve onsite SEO strategies such as the contents, appropriate use of keywords, captivating titles, the appropriate use of diagrams and images, or you choose off-site optimization strategies like inbound links, featured snippets, etc, you won’t incur much cost. Here, no statutory financial commitments are made. 

SEM has a broader scope. It envelopes Search engine optimization strategies PLUS another aspect of digital marketing which is PPC (Pay-per-click) advertising. Here, statutory financial commitments are made as it goes beyond organic search results to include paid search results. In short, paid advertising involves purchasing the space you need in search engine results when queries are made. It removes your page from the queue created by other web pages competing for organic search results.

 This is apparently an advantageous point for any website but it is only so for as long as the payment continues. “In the long run, paid advertising may turn out to be a disadvantage because the ranking only runs on a contract basis. While organic results earned through SEO strategies last for a longer period of time” according to Alan Safahi.

Another important difference to note is the speed and effectiveness that each method provides. SEM produces speedy results. This is basically because of the Pay-per-click advertising. “Once payments are made, you can expect to have your rankings as soon as possible while SEO will take a longer period and of course, more hard work and consistency before you can have your desired rankings” adds Alan Safahi

In the long run, however, SEO could turn out to be more effective and sustainable. Starting and continuing the strategies that enhance SEO has the potential of improving your site’s search engine results and keeping it that way for a long time, without payments. 

It is good to note that both Search Engine Optimization and Search Engine Marketing are effective ways of improving search results. What web page owners should do while deciding which is better for their webpages is to consider their own marketing goals. Do they need traffic on the website fast and for a period of time or would they rather have constant traffic? This would go a long way in helping them decide which strategy is better for their webpage.

Originally Posted: https://www.allperfectstories.com/seo-versus-sem/

Get Rid Negative links and live Happier Life

Most people would agree that the best way to live is to shut out all forms of negativity from your life, but, in today’s online world. where bad news is instantly shared with the whole world, it is difficult to experience sustained bliss, until all negative links on the web are removed completely (or at least pushed way, way down the pages of Search Engine Result Pages.

In this post, Alan Safahi, San Francisco businessman and SEO expert, will share a few ways to get rid of negative links, controlling what is being said about you and controlling your online reputation.

Everyone wants a happy life and no one wants a life surrounded of negativity, so why put up or ignore various negative links online that may damage your reputation?

Here are a few ways that Alan Safahi suggests you can get rid of negative links and live a happier life;

  • Set up your goals and  make getting rid of negative links a priority.  It’s very easy to say you want to get rid of negative links, but it takes effort to really achieve this, so make this a priority, this way you will be able to put in enough energy and effort into achieving this goal. 
  • Do your research and tabulate a list of all negative links in a spreadsheet , along with their position on the SERP.
  • Contact the webmaster of the site t with the negative links or the author of the negative post and ask them to remove the link. It is sometimes as easy as that and there is no harm in asking, according to Alan Safahi .
  • If the link is not removed within a couple of weeks, contact Google and submit a request to disavow the link if the post violates their policies.
  • Consider taking legal actions against the site if they are breaking any laws such as privacy laws.
  • Promote positive links about yourself with various SEO strategies to push down the relevance of the negative links.  Below are a couple of sources of information that can help you with this:

In addition to the above steps, there are also a few things you can do in general to live happy and positive life, according to happiness guru Alan Safahi:

  • Start thinking positively 

Thinking positively is the first step  to getting rid of negative links because it takes the negative emotions out of the way and puts you on the logical and rational path of getting rid of the negative links. Someone who thinks positively is always happy even when there is nothing to be happy about.

  • Be mindful of the company you keep 

Bad company, they say, corrupts good morals so you have to surround yourself with people of like mind. If you keep people that always preach negativity around you, there won’t be a way for you to avoid negative thoughts, but if you surround yourself with people that think positively, you will be influenced into thinking positively instead of doing otherwise.

  • Set boundaries 

This might be a bit difficult to carry out, but it’s a little price to pay for salvation. When someone is always bringing negative vibes around, You have to avoid such a person and set a boundary for them,  even if it might cost you your relationship with that person, your happiness is the most important thing. 

  • Speak positively

When you constantly proclaim a certain idea, it becomes reality and an important part of you, so speak positivity into existence.  It Is counterproductive to think positively but speak negatively.  You have to express your positive thoughts verbally with the confidence that it would happen, says Alan Safahi.

  • Practice positivity

“Spreading positive joy in everyday life and acknowledging the goodness in others, creates a positive source of energy or Karma that boomerangs back to help you feel even more energized and fulfilled” according to Alan Safahi.

 Whether online or offline, it should always be one’s goal to live a happy life free of negativity and any forms of bad energy.  Zoroastrians believe, good thoughts, good words and good deeds are necessary to ensure happiness in life.  Alan Safahi believes that they also make life a lot more interesting and rewarding.

Originally Posted: https://alansafahi.com/get-rid-negative-links-and-live-happier-life/

Social Media vs. Online Reputation Management

Social Media

Many of today’s consumers spend the majority of their time on social media. It’s become easier than ever for businesses or individuals to get feedback on their products and services, and to increase their exposure online. However, negative feedbacks are as commonplace as positive ones, and their detrimental effects are immense.

“Instead of eradicating negative feedback (which is near impossible to do), you can manage negative sentiments that already exist and replace them with positive ones” according to Alan Safahi, Orinda, CA entrepreneur and an expert in Search Engine Optimization (SEO) and Online Reputation Management (ORM).

Managing Negative Sentiments on Social Media

Social strategy creation:

Set up pages and create profiles on Twitter, Facebook, Google+, and LinkedIn, and if your brand requires it, get an account on platforms like Pinterest and Instagram also (though Twitter, Facebook, Google+, and LinkedIn are enough for a solid business start).

After setting up accounts, develop a strategy for your social media. The approach for each platform differs, just like the content. So, you might need a lot of time to create workable strategies for each account. Keep in mind that your strategy has to be something that works well for your brand.

The approach for each platform differs, just like the content. So, you might need a lot of time to create workable strategies for each account. Keep in mind that your strategy has to be something that works well for your brand, no fluff.

When it comes to responding to negative posts, read all the negative comments carefully. Some comments are better left alone (haters will be haters), so you don’t have to respond to ALL comments but if you choose to respond, do so in a timely fashion.

Make sure to stay positive and be transparent in your response and continue the conversation privately after responding publicly.

According to Alan Safahi, you should never argue with the clients, “just acknowledge their point of view and present, in a rational way, yours”.

Alan Safahi suggests that you ask them for recommendations on how to solve the issue. It often reduces anger and puts the customer in charge of coming up with solutions which is a logical decision rather than an emotional one.

Next, you can proceed to consider your content and things like the type of posts you would upload, how often you would upload them, and so on.

An active presence on social media:

Your brand sells at the extent to which your social media pages are active. Customers are likely to forget you exist if your pages are all dormant and boring.

Once you’ve completed developing your strategy and deciding all that needs to be decided, make your social media presence your top priority. You might need an account manager to manage your accounts which would be money well spent, according to Alan Safahi.

“Consumers, especially online, love consistency, and it shows poorly when they come to your page hoping to get relevant information but don’t find it” says Alan Safahi,

“If you’re going to build a positive reputation for your brand, you need to keep your followers updated regularly”.

Build Conversations, and Monitor them:

Users engage every post you drop on social media, especially when they’re interesting and relatable. They deserve responses.

Of course, your responses should be as timely as possible too. Build conversations with all followers and be sure to monitor them too. This will help you keep track of negative comments and respond to them accordingly.

Originally Posted: https://www.allperfectstories.com/social-media-vs-online-reputation-management/

Backlink Techniques and How They Work

Backlinks

Backlinks are links to another website, web page, or web directory and are a critical part of any Search Engine Optimization (SEO) strategy, also referred to as Off-Page SEO.

Backlinks are created when we want to link our website into another website; they are also known as inbound links, incoming links and inward links.

Backlinks play a different role between two web pages. It is used to link your website to an external page. If any website gets a backlink from a highly ranked and good quality website then the webpage also transfers the authority from the weak web page. Thus, getting backlinks from a webpage with high traffic will refer some of that traffic to the low quality page.

Why are links so important?

Inbound links are one of the most important factors for getting a high keyword ranking. Outbound links to quality and pertinent sites are important as long as they add value to the site visitor’s experience. “It is not the quantity of links but the quality of those links that are very important” according to Alan Safahi, payment executive, entrepreneur and startup founder.

As a world renowned SEO Adviser, Alan Safahi provides the following backlinks techniques that shed light on the subject of Off-Page SEO:

Spread Content – Using social media properties like Facebook, instagram, LinkedIn, to spread contents is the most effective way to increase exposure for the web site.

The amount of social activity that a webpage has on social networks (shares, likes, comment) is that important factor in that page’s eligibility to rank on Search Engine Result Pages (SERP).

Additionally, using email to spread content will also help bring more people to your website and increase your website’s visibility, pushing your listing to the top of the SERP.

Manually Built Links: – This is type link building in which you create links by contacting “influencers” and approaching them to promote your website and related content in their profile. This process of manually building links is an effective technique for getting additional links and customers to your website.

Self-Created Links: Alan Safahi explains that self-created links are techniques usually reserved for the most experienced SEO experts and require a great deal of practicing. In this technique, you register your website in directory submissions, forum submissions, blog submissions, guest posting and classified submissions.

In this technique you will use Anchor Text (clickable text in a hyperlink) which is relevant for both your internal links and your incoming external links.

Alan Safahi highly recommends that you use relevant text to the page you are linking to in your anchor text rather than generic text.

“Two way” or “Reciprocal” link building used to be a part of self-created link strategy. Under this type of link building, two similar websites would exchange links with each other. The concept was simple: “you point to me and I point to you”. This method has become outdated and no longer is pursued up by most SEO experts.

Search Engine Optimization Strategies For New and Growing Companies

Most small company entrepreneurs, particularly those people who have just launched a new brick and mortar business, try to acquire customers via traditional advertisement, phone sales or by word of mouth. 

The new generation of consumers, however, prefer discovery through online digital media using their smartphones or the web, says Alan Safahi, San Francisco Bay Area entrepreneur, businessman and startup advisor. 

Search engines like Google or Bing play a big part in that discovery and It is therefore crucial for any small or growing company to have a well planned Search Engine Optimization (SEO) strategy for customer acquisition, says Alan Safahi.  

SEO may be a new concept for most entrepreneurs but it does not need to be as complicated as it sounds. One can promote his or her business by following a few simple strategies:

The important portion of the inbound marketing policy which is an initial step for an SEO strategy. You are likely to find out the entire description of a particular industry with the help of the keyword tool of Google Search Console after creating an account there. 

You should then look for those keywords which provide you lots of quality content with low search volume, according to Alan Safahi. It is rather easy to grade the website that has lower search volumes, so opt for small and broad keywords and phrases. 

A website is more likely to be ranked higher when one decides to target keywords and sentences containing more words which are meaningful which will bring more people to your site, thus increasing your product sales significantly.  

A fundamental function of SEO is the process of improving the quantity and quality of website traffic reaching a particular site. Google SEO is a search engine that gathers relevant information from all the websites present and provides it to the user. Whenever a user searches on Google, it collects the required details from different available websites and delivers it to the user. 

The various tools of search engines like crawlers, spiders and many others help search engines  build their databases. 

The search engines like Google and Bing rank websites based on their own proprietary algorithms and only websites with relevant content are exhibited in the top pages, says Alan Safahi. Therefore, you should not waste time getting information from non-credible websites but rather look for  content from the most relevant sites to your business and watch your website traffic grow!  

How SEO Helps in Building A Brand

Search engine optimization (SEO) is the method of improving the quality and quantity of website traffic by enhancing its visibility.  In addition to keywords, you can also search images, videos, news related to different industries, and other statistics. According to Alan Safahi Orinda CA startup founder and advisor, every entrepreneur should adopt an SEO strategy to popularize the brand of their product regardless of the stage of the company, industry or target audience.

Below are a few simple tips:

– The image of the brand of your product should be appealing and must have the capacity to allure customers. 

– The content about your brand should be of good quality and has relevance. The reason is the thing that shows off sells well. 

– Your website must be accessible easily to the customers. 

– All the designs of the product should mesmerize the targeted audience. 

-Your product must have credibility.

Alan Safahi specifically mentions Millennials as the target audience most targeted by SEO techniques as this age group does most of their shopping online on their smartphones, although these SEO enhancements  can apply across multiple generations and target audiences.

Thanks to improvements in smartphones and streaming technologies, one could purchase anything  online these days with the help of search engines. 

(Insert statistics here about phone shopping and search engine usage and cite source)

The customer just needs an appealing presentation to select a particular product. 

There is strong brand recognition and loyalty online manufacturers and retailers need to optimize content marketing and brand image to create brand awareness, earn the customer’s trust and sustain their loyalty.

According to Alan Safahi, The marketing strategy to sell the product is termed as inbound methodology. More than seventy-five percent of customer use the inbound methodology for shopping online (need source) 

The inbound methodology enables you to build a stronger awareness of your brand among the targeted audience. There are four major steps of inbound methodology that collaborate with search optimization engines (SEO). Those are as follows:

1) Attract: The content of your website should be such that it becomes people’s first choice to visit it again and again.

2) Convert: In this phase, convince the people to subscribe to the various products exhibited on your website who are regular visitors to the site.

3) Close: Give attractive offers in this phase so that the customers are forced to buy your product. 

4) Delight: You and your customers should feel happy in both selling and using the product, respectively. It is essential to have the best SEO marketing strategy to popularize what you are selling. 

With small investments in SEO technologies, companies not only benefit from more exposure for their brand, but they help build brand awareness, loyalty and trust. 

Originally Posted: https://www.allperfectstories.com/seo-helps-building-brand/

7 Tips For Better SEO Ranking Online

Search engine optimization (SEO) is a technique or a process that helps your  website rank higher in organic search results by making your website more visible to your customers who are looking for your services and products in the search engine. 

To understand  SEO, you have to know about how search engines work and how it provides you best results on search engines.

Entrepreneur and advisor,  Alan safahi, suggest some points for better SEO ranking

1. URL structure – The actual structure of your website can have an impact on the search engine’s ability to index and understand your website’s content. Alan Safahi believes that it is very necessary to choose a good URL structure for ranking your website.

2. Internal linking-  Internal links are the main navigation links that go from one page on your site to another page on the same site.  Internal Links establish information hierarchy for your website and enable your customers to navigate your site, They also spread ranking power around your site. 

Therefore, when creating content for your website on your blog or on specific webpages, you may want to reference other pages on your website.  

3. Pictures/Images- When a picture or image is inserted on your website, the picture’s file name actually lives in your website’s source code so it should be chosen thoughtfully. When search engines scan the website’s code, using a filename that describes the picture (i.e. Alt Tag) will help with your website’s ranking enormously.

4. Backlinks- A backlink (a.k.a. “incoming link” or “inbound link”) is a link created when one website links to your website. Backlinks are an important part of your Off-Page SEO strategy. They signal to the search engines that other websites (preferably of higher authority) believe your contents are important and relevant enough to espoe to their own customers, thus they increase your Domain Authority and Page Authority. There are many types of backlinks used in Off Page SEO components and earning these backlinks (i.e. Link earning) forms an important foundation of your SEO strategy.  Some backlinks are free and for some backlinks you will have to pay.  The easiest way to do this is to look at your competitor’s website that is ranking well for your targeted keywords and tabulate a list of websites that they are backlinks-to! 

5. Content on your website – contents are very important to any website, without your good content your website will take a long time to grow on search engine result pages, if at all.  A good content will always increase visibility on your website and attract customers and other visitors, which in turn increases your website traffic, hence authority.

6. Who is linking to you – It is important to know who is linking to because not every link is good for your website. You can use free tools like Link Explorer to determine what websites are already linking to you.  

7. Spread Content – The best SEO advisors, suggests Alan Safahi Orinda CA, use  social media (like facebook, instagram, LinkedIn, et.c) extensively to spread content. The amount of social activity that a webpage has on social networks (shares, likes, comment) is an important factor in that page’s eligibility to rank on Search Engine Result Page (SERP). Using emails to spate content will also help bring more people to your website and increase your website visibility thus pushing your website toward first page positioning on the SERP.

Strategies To Help Founders and Entrepreneurs Reduce Financial Stress

Entrepreneurs are typically familiar with a degree of uncertainty when it comes to launching and managing their business, but COVID-19 has delivered even more unknowns.

We’re operating in a risky business climate that has led some companies to close their doors indefinitely or cut back on staff, while others transition to working from home as they grapple with an uncertain future.

While it’s true that stressful times make running a business even more challenging—especially while juggling financial obligations and overhead. Yet there are actionable steps business owners can take to weather the storm and remain strong and resilient.

Below are a few tips from Alan Safahi, Board Advisor and 6X serial entrepreneur, to manage financial stressors in a time of overwhelming uncertainty.

Pre-evaluate your business plan

Before starting any venture, be prepared to put in the time to make a detailed business plan. This is the foundation of your business, so the time and effort you put into it from the start, the more solid your foundation will be.

A business plan guides you through the different stages of turning a concept into a viable business, and in uncertain times, it can act as a reference point to keep you on track, strategically and financially.

Financial projections usually get pushed to the back of a business plan, but they’re incredibly valuable and important. Take the time to think through the cost of running your business, your overhead and how your projections will look in the next year.

Know your numbers

It goes without saying that you should prioritize understanding your company’s financials. “Document all your expenses and maintain good records to track cash flow, expenditures and outgoing payments” – says Alan Safahi Advisor & Board Member at Safahi Global Advisors.

“Doing so will give you greater clarity when assessing your financial position, and perhaps even some peace of mind”.

Streamline as much as possible

In recent times, we’ve seen many companies look for ways in which they can cut back on costs to keep the business afloat. Can you make do without an office space for the rest of the year? Are you able to cut down on advertising to keep expenses down? When you take a closer look at your business and its expenses, you’ll likely find a few opportunities to trim your spending.

Set aside for a rainy day

It’s not too late to start saving for a rainy day because businesses are usually cyclical and cash is like an oxygen needed during rough times to sustain the business.

Use your creativity

Entrepreneurs are accustomed to rolling with the punches, global pandemic or otherwise. If you’ve been thinking of a new approach, wondering when might be a good time to pivot or introduce new offerings, now may be the time. That may sound counterintuitive (shouldn’t I be looking for ways to reduce risk?), but if you’re looking for new ways to swim – rather than sink – it….

Seek support when you need it

Entrepreneurs and business owners usually carry the stress of running a business with them and are often too concerned with keeping the lights on to check in on themselves. If you’re feeling overwhelmed, it’s important you find support. Seek out the advice of an accountant, financial advisor, coach or even other entrepreneurs who understand the position you’re in. There are a number of resources available to business owners, it’s a matter of sifting through to find what’s relevant for your business and needs.

While these are unprecedented times for entrepreneurs, Alan Safahi encourages founders and business owners to take a step back and see where there might be opportunities to reduce risk and find financial stability.

Originally Posted: https://vocal.media/journal/strategies-to-help-founders-and-entrepreneurs-reduce-financial-stress