Financial Planning to Meet Your Future Goals

All of us do some bit of planning to manage our income, savings, expenses, future liabilities (money we expect to spend in the future) whether we understand anything about financial planning or not. While we may be managing it well for now, it may not be the best way to do or it may not give us the best results. While financial planning may sound technical, all it means is how do you recognize your future earnings and liabilities today, list down your current earnings and expenses, see if there is shortfall between what you’ll need in the future and what can get to with current means and then plan your savings and investments to overcome that shortfall.

List Current Income & Expenses:

Start with your current income which should include your salary, salary of other working members in the family, any other income like rent, business income etc. Add it all up and remember to also deduct the taxes you’ll pay on each of the income to finally arrive at the net income for your family at present.

After having arrived at your family’s net income, deduct all expenses like household expenses for the year, tuition fees, loan EMIs or any other short-term liabilities (expected within next 3-5yrs) you foresee like renovating the house or a medical treatment etc. Post this deduction what you now get is the savings you have that you need to invest wisely for the future.

Setting Future Life Goals

The next step in financial planning should be putting down all your future financial liabilities, the time when they will arise, the amount you will need etc.

Goal 1: For instance, if you are a 40 yr old man and expect your daughter’s college education to be due after another 8 yrs and anticipate this may cost around 30 lakhs then, will you have the money to finance it? Decide on an investment and the amount that you need to make today to achieve this goal 8 yrs later.

Goal 2: Similarly, if you intend to retire at 60 yrs, you need say 1 lakh p.m to maintain your current lifestyle which is INR 50,000 in today’s value. Given the advances in healthcare, you can easily expect a 25-30 year long retired life. The money you need to live your retired life can be funded by a long-term low risk investment (like debt mutual funds, pension plans) made today. Set aside some money for such an investment to be made today.

Goal 3: You may set aside money for buying some health insurance that you’ll need during your retired phase or even earlier. The insurance premium needs to be funded from your current savings.

The goal setting process helps in understanding your future requirements, quantifying them and making investments in the right asset class to fund each of the goals when they become due.

Asset Allocation:

While asset allocation can be done along with goal setting, it is better to understand how asset allocation can impact the success of your financial plan. You can invest your savings in various asset classes like equity, debt, gold, real estate etc. Look at the investments you have already made like if you own a PPF or EPF account, money you have invested in bank FDs, home loans you are paying etc. From the current savings and investments, you have already made, calculate the percentage of allocation made to each asset class. For instance, all bank FDs, PF amounts, govt bonds, debt-oriented pension plans should be classified as debt. Any money invested in IPOs, company stocks, equity mutual funds should be classified as equity, loan EMIs should be classified as real estate etc.

As a thumb rule, 100 minus your current age should be allocated to equities and equity like product. If you are 40 yrs old, 60% of annual savings should be invested in equity like products and the balance in debt products. If your current investments don’t seem to reflect this, try balancing your investments by reducing the money you put in debt products like FDs and bonds and divert that money towards equity mutual funds or stocks.

Most people are not comfortable investing in stocks as it requires special research, constant monitoring and a lot of undue stress. Hence equity mutual funds are a better option since your money is professionally managed by fund managers who do all the research on companies before investing and continuously monitor the performance of the fund by buying good stocks and selling underperforming stocks.

Start Early

You must start your financial planning early because this will give you the advantage of compounding example whichever option you choose to invest in, your money will get to grow for longer duration with returns compounded every year.

Annual Review & Rebalancing

While a sound financial plan is a good starting point, following it with discipline and rebalancing your portfolio every year is very important. Since life circumstances change frequently, you must relook at your plan along with your financial advisor and make changes to reflect your new circumstances.

Aim To Be An Entrepreneur, Not A Onetrepreneur

One of the tougher tasks for most of us is delegation. Whether the difficulty is due to a tendency toward perfectionism or a lack of trust in the ability of others to do the job as well as we will, most of us resist handing over even mundane tasks associated with our business, therefore assuring that we will not grow.

A more dangerous reason that some of us keep ourselves occupied with busywork is to escape the very thing we need most: time to think.

If your goals are, as management gurus like to say, BHAG, or big, hairy and audacious goals, then learning the art of delegation is critical. One cannot run a large organization alone. Truthfully, even the solitary geek affiliate marketer finds that he must outsource certain tasks if he is to remain competitive

If in network marketing with a growing down-line, you are probably mentoring those who have big goals like you and if you have an affiliate business without messy down-lines, you must still get the word out via SEO, blogs, social media and the innumerable tasks involved in 21st century marketing.

None of us can become expert in all of the required fields of internet marketing; therefore the answer is, of course, to contract out the jobs in which you have little or no expertise. The good news for the small business entrepreneur is that there are many places where one can find skilled people to hire for one task or as a virtual employee.

Sites like Elance, Guru.com can provide freelance web designers, experts in SEO, blogging, copy writing or almost and task you can conceive of. And recently, Fiverr.com has come on board offering article spinning, web design, video production and an amazing variety of skilled people from all over the world; all for $5.00 per job.

Due to the emergence of technologies like Skype, VOIP, virtual assistants, (VA’s) are becoming increasingly commonplace. Young and surprisingly skilled workers from the Philippines, India and China can make themselves invaluable in a very short period of time if you are willing to train and then delegate.

After handing over the mundane tasks, our fear may be that we have too much time on our hands, too much time to think.

Psychologists have suggested that success may cause more stress that failure; the comfort of busywork prohibits those most critical of efforts for the entrepreneur: creative thinking, planning and strategizing.

Entrepreneurship Development

Who is an entrepreneur?

An entrepreneur is someone who manages and organizes any form of business. Who has the capability to take initiatives, motivate others, work in a team, and become a leader. He is a man who starts his own venture not seeking for a job but providing many people a hope of life.

Why Entrepreneurship?

Entrepreneurship plays an important role in case of economic development of a country. A lot of problems of our country would be solved if people will start considering entrepreneurship as the first option for their career.

Employment:

One of the greatest problems of our country is “Unemployment”. Let’s see how entrepreneurship tackles with this problem.

Current employment opportunities can only cater 5 – 10 % of population. Entrepreneurs generate employment both directly and indirectly, directly by self employment as an entrepreneur and indirectly by starting many industrial units where they offer jobs to millions of people. Thus entrepreneurship is the best way to fight with the evil of unemployment.

National Income

National Income consists of the goods and services produced in the country. The goods and services produced are consumed within the country and can also be exported to other countries. The domestic demand increases with increase in population and increase in standard of living. The export demand also increases to meet the needs of growing imports due to various reasons. An increasing number of entrepreneurs are required to meet this increasing demand for goods and services. The manufacturing rate of any developed country lies between 60% – 70%. But unfortunately in our country this rate is below 40 %. If you want to become a great entrepreneur or want to do something for your motherland, become a manufacturer not just go for a service industry.

Dispersal of economic power:

Industrial development normally may lead to concentration of economic powers in a few hands. This concentration of power in a few hands has its own evils in the form of monopolies. Developing a large number of entrepreneurs helps in dispersing the economic power amongst the population. It may help in weakening the harmful effects of monopoly.

Better standard of living:

Entrepreneurs play a vital role in achieving a higher rate of economic growth. They are able to produce goods at lower cost and supply quality goods at lower price to the community according to their requirements. When the price of of the commodities decreases the consumers get the power to buy more goods for their satisfaction. There is a great demand of such entrepreneurs who can make this thought possible.

Creating solutions for society :

An entrepreneur is a person who creates solutions not only for the problems of his business but for the whole society. Entrepreneurs play a key role for innovations and creative ideas that solve different problems in the world with the efficient use of technology. What is needed? or desired should be created with appropriate use of technology. This gives a clear thought of “Creating solutions with technology!”

The benefits and needs of entrepreneurship is endless. The greatest demand of today’s world is simply “Be an Entrepreneur!” that will solve economic problems of your family, your society, your people and your country. Let’s create wealth,not just seek for a salary.

Beginners’ Guide to Business Intelligence Solutions

Current Condition of the Business Intelligence Tools Market

The sustained interest in Business Intelligence applications has driven large corporations, offshore software development centers as well as custom software development companies to focus on developing a wide range of Business Intelligence Tools suitable for each and every industry. The use of Business Intelligence tools in key industries from aerospace to iron and steel has also increased in recent years due to the uncertainty in global markets. Currently available tools including the Microsoft Business Intelligence software include numerous paid, freeware as well as open source and proprietary software, which are often customized by a custom software developer to suit the requirements of a specific client. Some of the additional categories of Business Intelligence Tools are discussed here and these constitute only a few of the business intelligence reporting tools commonly utilized by the enterprise.

Data Mining

Data mining combines key elements of statistics and computer science with the objective of identifying patterns in large data sets. Currently implemented data mining methodology includes various elements of database systems, statistics, machine learning and artificial intelligence to deliver actionable intelligence to managers, decision makers and data analysts in an enterprise. Apart from the analysis of the available raw data, additional operations performed by data mining process include online updating, visualization, discovered structure post-processing, complexity considerations, metrics to determine interest as well as data management. Data mining is distinct from information processing or large-scale data analysis as the process is based on “discovery” i.e. the detection of something new. As data mining deals with large data sets, various automated and semi-automated solutions are available to carry out the task. Data mining applications developed by any software development company focuses on performing the following tasks- anomaly detection, association rule learning, clustering, classification, regression as well as summarization. Current business applications include data mining in applications related to customer relationship management, determination of successful employee characteristics using HR department data, identification of customer purchase pattern by the marketing department as well as much more. Leading companies engaged in providing data mining tools for use in business intelligence reporting include Extra-Data Technologies, Clarabridge, Versium Analytics, emanio and Polygraph Media.

Data Warehousing

Data Warehousing in simple terms refers to any database utilized for reporting as well as analyzing enterprise data. The data in an enterprise is usually obtained from all over the organization including the HR, Marketing, Sales, Customer Support, Warehouse, administration departments. In some cases, the raw data may undergo a small degree of pre-processing prior to being used for reporting in a Data Warehouse. A traditional data warehouse (a warehouse operating on the extract-transform-load mechanism), houses the key functions by using separate staging, integration and access layers. The staging area stores all the raw data obtained from various enterprise-wide sources. In the integration layer the raw data stored in the staging area is integrated to transform it into a form suitable for analysis and stored in the data warehouse database. The data stored in the data warehouse database is arranged in hierarchical groups, which are accessible by the user through the access layer. Each data warehouse is often subdivided into data marts, which store subsets of the data integrated in the warehouse. The key objective of a data warehouse is thus to store data in a format suitable for analysis by the user using various techniques including OLAP and data mining.

The earliest data warehouses used by an organization were offline operational data warehouses. In these warehouses, the data was updated periodically (fortnightly, weekly or monthly) from operational systems and stored in a report-oriented format. In the next stage of data warehouse evolution, offline data warehouses came into existence. In offline data warehouses, the data was updated regularly from operational systems and the structure of the stored data was designed to aid the reporting process. The offline data warehouses later evolved into Online Integrated Data Warehouses, which updates the data in the warehouse in real-time by recording every transaction performed on the source data. Further evolution of data warehouses has resulted in the creation of the integrated data warehouse, which compiles the data obtained from the various departments of the enterprise to provide users with real-time access to actionable intelligence from all over the organization. Leading data warehousing solutions companies include Accenture, IBM, Igate and Infobright.

Decision Engineering

Decision Engineering is defined as a framework, which unifies various leading practices in the field of enterprise decision-making to improve the overall decision-making procedure by providing a structured approach. The decision engineering process is designed to overcome problems resulting from a “complexity ceiling” of the decision-making process. This “complexity ceiling” usually results from a mismatch between the complexity of a particular situation and the sophistication of the decision-making procedure being implemented. Decision engineering acts as a framework for providing advanced analytic techniques to a non-enterprise user while simultaneously integrating machine learning and inductive reasoning techniques to streamline the organizational decision-making procedure. The use of Decision Engineering as a business intelligence tool by enterprises is still in its infancy and further development would be required before decision engineering develops into a viable business intelligence reporting tool.

Reporting and Querying Software

Reporting and querying software are designed to provide users with access to the data stored on enterprise databases subsequent to submission of user-queries. Such tools are designed to provide a logical format to the available data sets to support enterprise-wide data accessibility as well as speed-up the organizational decision-support process. Currently, various open source business intelligence tools as well as commercial business intelligence reporting software are developed by software development companies all over the world. Some of the leading reporting and querying tools are mPower, Zoho Reports, Cognos BI, GNU Enterprise and JasperReports. Many offshore software development companies in India also provide customized versions of reporting and querying software to streamline the overall enterprise-wide decision making process.

Spreadsheets

A spreadsheet is defined as an interactive computer program, which allows the analysis of available information by use of a tabular format, which originated from the use of paper-based accounting spreadsheets. On a spreadsheet, users can modify the values in each cell of the spreadsheet and are now used widely by the financial sector as a replacement of paper-based accounting methods. The digital spreadsheets allow users to automatically calculate values after making modifications to the available data as and when necessary. Apart from the standard arithmetic calculation support, currently available spreadsheets also features support for a wide range of statistical and financial operations built into this commonly used business intelligence tool. Spreadsheets are probably the most widely used and easily available among a wide range of proprietary and open source business intelligence tools. The first spreadsheet introduced for a micro computer was Visicalc, which was overtaken by Lotus 1-2-3 at a later date. Currently Microsoft Excel, available as part of the Microsoft Office Package, is the leading spreadsheet solution utilized by enterprises all over the world.

Technical Support Services

What if someday you just woke up and find all your computer files vanished away? Everybody who has been using computers for quite sometime may have encountered numerous pesky errors like blue screen of death. Whether the problem includes software or hard drive, you can actually pull yourself through the mess. Thinking how? Simply with the help of online technical support services.

Whether it’s about troubleshooting PC errors or internet optimization or computer optimization or any other, the tech support is just a call away nowadays. The simplicity of these services has helped the technical support company to grow rapidly. Tech support services either online or by phone are very affordable, especially if the users have valid warranties. You can locate numerous online computer repair specialists by using simple keywords like technical support, computer support, online computer support etc on the Internet.

In spite of paying technicians for their home or office visit every time your computer gets a problem, you can avail exclusive support services for a one time payment. That’s again just possible with online computer support companies. They keep on bringing different support packages including a comprehensive array of services for a one low price. Since computer gaining importance and becoming critical to our everyday lives, you can’t take any risk with your PC’s functionality.

After narrowing down on the shortlisted results, you can visit each website to have a good idea about the services they undertake.

A remote computer repair person watches everything on a PC screen while working on your problem. Technology has advanced so much that you can even assume control anytime, just in case you feel that there is a breach of security. In certain cases, the instructions are given from a remote location and you follow these instructions to repair your computer. Most of the remote computer repairers disconnect the connection program, until and unless you want to reinstall the program for future use. Although the entire method is popular, it is always preferable that you get good references from the remote repairing company. This way you will able to verify their credentials better and ensure the safety of your data.

Remote computer repair is of great help in things like computer optimization support spyware removal, troubleshooting, virus and pest removal, software installation, up gradation, cleaning up of disk, and PC optimization. Needless to say, the success rate is also pretty high when it comes to remote computer repair. Another advantage with remote computer repair lies in the fact that it will save you money in the long run, since the technicians are working from their own location.

Management Tip – Building a Winning Team – Developing Self-Esteem

How important is self-esteem to your employee’s success? As managers, we all know that high self-esteem leads to high confidence and a high feeling of self-worth. These are critical traits in any employee’s success. Having said that, here is an important and introspective question: What kind of self-esteem does each of your employees have? If you do not know, I would challenge you to start observing your employees. Believe it or not, you can play a major role in making boosting their self-esteem and can change their attitude and performance in the process.

It has always been interesting to me that the term self-esteem starts with “self”. Our self-esteem is usually not determined, high or low, by ourselves, but by the feedback of those around us. We get a view of ourselves in our mind as to who we are, and our strengths and weaknesses, based on what others say to us and about us. As a manager, knowing this simple fact unlocks a key of opportunity for changing and improving our employee’s self-esteem every day. In essence, powerful words and affirmations can lead to a changed, more confident, self-assured and productive employee. I have seen this metamorphosis happen to thousands of individuals in my career. This is all possible through the power of words!

Have you ever had someone significant in your life (a spouse, parent, sibling, teacher, coach) who consistently told you that you weren’t good enough in certain areas of your life? Someone who tended to focus on your weaknesses instead of your strengths? Someone who was always correcting you? How did that make you feel? What was the impact and what were the long-term repercussions? Did it negatively impact your self-esteem, self-image and self-worth? Do you think your employees have had (or are having) the same experience in their life? As their manager, are you one of those critical people?

Now let’s look at it another way. Have you ever had (or have) someone significant in your life who told you could do anything? Someone who found the best in you? Someone who constantly built you up and focused on your strengths? If you have, and I hope you did, you know the positive impact that had in changing your view of yourself and building your confidence and self-esteem. That’s exactly the kind of influence you can be in your employees’ lives. No matter what negative feedback your employees are getting from others in their lives, you can counteract that with positive, encouraging words. By doing so, you will not only build up their self-esteem and confidence, but you will gain their respect, admiration and loyalty. These are qualities that make for great employees! It is all up to how you speak to and treat the people in your care.

Let me share with you some timeless words of wisdom and truth from the Bible that will support this point: “Do not let any unwholesome talk come out of your mouth, but only what is helpful for building others up according to their needs so it may benefit those who listen.” (Ephesians 5:29). You have the power to make a difference in your employees’ lives. Starting today, make that difference!

Express Yourself – How to Conduct a Seminar (Part I)

Conducting a seminar is a great way to communicate your ideas or introduce new technologies. It is useful to know some guidelines when you have to conduct a seminar. I understood the importance of this both as a attendee and a presenter myself.

Preparing your presentation

A successful seminar is the result of careful preparation of your speech and your presentation material. Here is how you can do it.

Research your subject

If you are called to speak on a topic, probably thats because you are already have some knowledge of it. Even so, you need to reference from at least 2 different books. This helps you address and include points you have not thought about. It also helps you determine a flow for the seminar.

Preparing the presentation

Include a presentation. Presentations help the audience to understand the underlying points that the speaker has to say especially if the subject is rather vague.

The presentation should have an Introduction and a conclusion. The introduction can include a summary of the topic and a brief overview of what the speaker will be saying for the rest of the duration of the seminar.

The speaker should determine how long the seminar will take and accordingly create the presentation slides. Thumb of rule is approximately 2-3 minutes per slide if the speaker intends to skim through the slides quickly. And around 5 minutes per slide if the speaker intends to explain the slides with small examples. For example, if the seminar is supposed to be 40 minutes long, there should be around 16 slides if the speaker intends to quickly skim the contents of the slide.

Make sure the content has a “flow” to it. By flow I mean that the content that comes later can depend on the content which comes in first, but not the other way around. This is a common mistake. The speaker tends to explains a point that should have come in later, in the beginning itself. This tends to confuse the attendees because they have not gained enough insight into the topic to be able to grasp the new information.

The Look and feel of the presentation is extremely important. Avoid too flashy and too plain presentations. A presentation with extraordinary text effects look naive and detracts from the importance of what the speaker has to say.

At the same time, avoid plain presentations as the attendees perceive that the speaker has probably not prepared enough. Use well designed presentation templates which are freely available or at a low cost. The text size of primary points should be uniform as far as possible. Secondary points should have a smaller font size to show its reduced significance. Secondary points are indented under primary points.

Include pictures or graphs instead of text wherever possible. Management Guru CK Prahalad, in a seminar on India’s innovation possibilities, explained the efficacy of the Jaipur Foot in a picture that showed a physically challenged person running with the Jaipur foot. Though the audience had already heard about the Foot, they were visibly amazed and touched as they saw the picture.

The way text is arranged on the presentation slides is also important. Speakers sometimes make the mistake of putting up points and their respective explanations also. Not only does this practice increase the number of slides, but it is a sure shot way to lull the audience into sleep. So thumb of rule is to use minimum text, and make sure whatever text you put up is a point, not an explanation of a point. If you intend to give out detailed points for reference, do not include them in the slide. It just makes them cluttered and anyway the audience just cannot keep up with the stream of points you list out to them during the seminar. Use handouts instead for such points.

It is very important to include within the seminar content, examples and case studies. Examples illustrate the speaker’s point in a more interesting way which the audience is immediately able to relate to. Examples and case studies have the power to touch an audience, relate to similar experiences and thereby be eager to learn more. Sometimes small jokes too make the seminar livelier.

Handouts

The speaker should prepare handouts as well, especially if the audience is small. Handouts will contain all main points of the seminar as well as those detailed points which cannot be included in the seminar slides but are useful for reference later. Include within the handout, a list of any reference books used to prepare for the seminar. This helps the audience to read or followup on the same topic later.

Listen to your voice

The speaker should listen to his seminar using a Dictaphone( or tape recorder) and play it back. It is possible to immediately detect the parts of the seminar that could be corrected or which don’t sound right. If the seminar sounds interesting to the speaker, chances are that others would also feel so.

During the seminar

Once the seminar is prepared, relax!! Most of the work is done.

List out your seminar itinerary

The speaker should make sure that the audience knows how long this is going to take. Give a brief idea on the important aspects of your speech so that the audience is aware where they are during the seminar. Then start with an introduction. Many people fail to give out a decent introduction before they delve into the subject, perhaps because they want to be quickly done with the main parts. An introduction helps bring people into sync with the subject. The speaker can also emphasize the benefit the audience will get by hearing the seminar out. It would be something like this “The topic I am going to speak today is about xxxxxx and through this I hope you will be able to gain yyyyyy.”

Style of speaking

The speaker’s voice should reach everyone, especially if it is a large audience and if there is no adequate sound system. Not able to clearly hear is probably the first way to lose interest. Similarly the seating should be such where everyone can easily see the speaker and the presentation.

The speaker should be relaxed and should be able to casually bring out examples of as many points he is taking. Examples have the power to immediately make the audience understand the point and be in sync with the speaker.

Speaker’s attention has to be on the audience. The speaker can probably glance occasionally at the presentation, but remember to make eye contact as often as possible.

The general thumb rule in a seminar is for the audience to understand the subject first before asking questions Interactions can be initiated after the seminar. But during the seminar the speaker is the one who has to be strictly speaking. While an interactive seminar may seem more lively for the speaker, in fact it is lively only for the speaker and for the person who is asking questions. Others immediately lose interest. So in the interest of the larger audience, the speaker has to make sure he does not lose grip over the audience even for a minute. That means avoiding asking audiences questions during the seminar or encouraging discussions during the seminar.

So how do people ask questions. They should do it after the seminar during a Question answer session. Any questions they have during the seminar should be written down by the audience and asked after the seminar. The speaker could make these rules clear to the audience prior to starting with the seminar.

After the seminar

After the seminar is over, there could be a question answer session where audience can ask questions. As the audience is more aware of the subject now and not burdened with their own questions, they can easily understand the replies to other questions.

Now the speaker could try to get feedback from the audience about your seminar. Of course this applies only if the seminar is conducted within a company or among people who will come back for more seminars. The speaker should try to understand if the subject was interesting to the audience and in particular “useful” to them or their department. This way it is possible to understand whether to continue to build on the details of the same or similar subjects in your next seminar.

In Poornam’s Development department, we conduct feedback sessions after every seminar to know whether the topic is useful for further implementation within the department. This way we were able to include JAD (Joint Application Development) and Inspection Review methods to our processes. The seminar became an extremely useful method to increase the knowledge level of staff and to improve our processes also. If the feedback session wasn’t there, probably people would have forgotten about the seminar and its uses to the department. Remember the speaker is a powerhouse of information on the topic and that knowledge should not go waste if it is useful to the organization.

Conclusion

Finally ensure that seminars are always are conducted in an organisation. Besides drastically improving kowledge levels, it brings about an understanding of the immensity of the vast unknowns in our profession or for that matter any profession. This in turn eradicates complacancy.

Another surprising benefit of conducting seminars within organisations is the increased confidence levels found in the speakers. Generally once a speaker has conducted a seminar, he rarely stops conducting seminars and goes on to become good enough to speak outside the company to a more general audience.

As complacancy is eradicated, a renewed interest in learning is developed and most speakers turn to writing articles and reading more books. Most importantly, the fresh inflow of new ideas enters the organisation as many of these ideas are implemented. The audience which listens to the seminar already know much of what is spoken and are ready to accept changes brought about by the new systems introduced as a result of the new ideas introduced by the speaker.

All in all, seminars benefit the orgnisation, the audience and most importantly the speaker.

Gain Problem Solving Skills and Become Change Agent With Green Belt Certification

Problems will always be a part of the organization. They won’t go away unless handled with care. For that reason, top talents are hired, paid handsomely to work as change agent and ensure growth for the company. You too can be that professional with six sigma green belt certification as add a new dimension to your stagnated career. Green belts are demanded a lot for their cutting-edge problem solving skills and also for their ability to manage by facts and data. They ensure that opinions won’t ever have a say in the daily running of the business and rather look to rely on hard data to drive the growth.

More so, green belts know the art of boosting profit and reducing cost on the back of supporting creative endeavors within the organization. With six sigma green belt certification, you’re imparted a deep knowledge of the tools and techniques required to ensure growth to the business. Green belts are the professionals with a better understanding of both people and processes within the organization. They not only understand business and its valuable connections but also have a grip over Lean Six Sigma’s DMAIC methodology. This helps them solve problems of any complexity to add value to the organization. This is why green belts are demanded so much in the industry.

More so, green belts know how to bring change by collaborating with the right people without looking to bypass responsibility. With six sigma green belt certification, the participants are taught to focus on fixing the process rather than evading responsibility. What’s more, green belts are among those rare breed of professionals with the freedom to take up job anywhere in the world, which is deservedly a great flexibility. Even if they are not a hard-core statistician but this does not take away their comfort level with data. In fact, they are trained in data analysis and can make process improvement as simple as needed.

Similarly, organizations can also look to fix processes and achieve growth targets by several other means to have an edge in the industry. They can benefit from the power of RPA consulting or Robotics Process Automation consulting to automate and achieve the desired growth results easily. This consulting is about letting software robots contribute to process automation across enterprises. They look to ease the burden on employees and get bots or configurable software to do process instead. And when business processes are automated in this way, the organization can be sure of superior speed and efficiency. This is how a business can become cutting edge without investing a lot.

Some companies also look to benefit from RPA consulting to bring flexibility & resilience to processes after automation. And when RPA is implemented by an expert consultant, it becomes easy to realize reduced cost and improved productivity. This is how businesses can become more accurate on the back of automation and create difference to their prospects in the industry. With an experienced consulting partner, it becomes possible to boost ROI and reduce cost and go on the right path of growth. The good thing, you can go automated irrespective of the industry or sector you’re part of.This is how your business grows and adds value.

The Top B2B Sourcing Websites

Everybody sourcing products from overseas has heard of Alibaba, but for people looking for great deals on products directly from factories should check out this list. New websites have been hitting the scene, and some of them are really helpful for the larger businesses or the work at home eBay seller.

Niche Directories – These websites are focused on a particular industry and often provide better tools and filtering of information.

MFG – The best website for sourcing parts. Upload your projects, and get quotes from suppliers around the world. Also, the members have been active in leaving feedback on suppliers. You can now also source textiles using MFG. Jeff Beezos from Amazon.com is an owner of this company.

Panjiva – Great for sourcing garment manufacturers, their approach is different from other sites. They offer supplier ratings by reviewing the companies current shipments and customers. They offer information on shipment amount, and the type of customer and shipments.

Trade Intelligence – Ever wanted to know who your competitors have been buying from? US customs shipments reports are open to the public.

Zepol – The most searchable database for US customs reports allows the user to create their own custom filters. The system works within a web browser, and allows an unlimited number of searches.

Import Genius – Offers searches by customer name, product name, and supplier name.

Trade Mining – A lower cost system that allows a user to download trade intelligence reports one report at a time.

Piers – The largest trade intelligence company. Piers data is entered and analyzed, then put into their database. Reports are much better looking, but searches are more difficult and results may not have as much detail. They also offer trade intelligence on other countries.

Manufacturers and Wholesale Suppliers– Good websites for smaller orders and selling on eBay.

Doba – Sell goods on eBay without needing stock. Buying though Doba wholesale partners allows goods to shipped directly from the wholesale warehouse. The cost to the seller is 50% below retail, and the seller can select their own profit margin. Doba charges a monthly fee.

World Wide Brands – Allows you to search for suppliers, manufacturers, and wholesale companies. They charge a monthly fee.

B2X – Buy from China- Pain Free. B2X allows users to search manufacturers products online. No experience needed, B2X will ship the goods to you, and take care of all importing quality inspections. B2X charges an unstated fee that should be a great deal for smaller customers looking for good values.

DHGate – A platform for buying goods directly from manufacturers in Asia. Be careful of branded products, as there are lots of fakes being sold by companies who advertise on this site. But, there are great values if you know how to use it, and the site allows feedback.

The Wholesale Forums – An online forum with 5000 active members discussing goods, suppliers, and products. Very good information for people looking to start buying and selling online.

Liquidation and GoWholesale – A family of web sites that offer off-price goods for retail and discounts for wholesale.

Simplx – Another large platform that allows users to sell goods directly from a drop shippers warehouse.

Large Manufacturer and Supplier Directories – If you want to work directly with factories, these are the best large websites. Please be aware if you are looking for a factory that many companies advertising on these sites are trading companies.

Alibaba – The largest online sourcing community has suppliers from almost every country in the world. Also included are forums where your sourcing and trading questions can be answered.

Global Sources – The most reputable sourcing website. Global Sources verifies suppliers and works more closely to ensure smoother sourcing for its users. Global Sources also operates many large trade shows in Asia and has many print publications for sourcing.

Made-In-China – The 3rd largest sourcing website in the world. They also work with SGS and supplier audit reports can be purchased online.

Global Market – A newer souring website offers a huge amount of suppliers and products. Also, you can email them projects, and they will send you back a list of qualified manufacturers.

India Mart – As the name implies, a huge directory of Indian suppliers and products.

Product Pilot – All types of suppliers and products are listed in the most visually appealing of the large sourcing websites. An arm of the Messe Frankfut tradeshow group in Germany, most of the suppliers listed have also exhibited at their events, but since these events are so world wide, the website gets a good assortment of manufacturers.

Follow 10 Rules & Learn How Not To Lose Money In Stock Markets

Investing and trading are as professional as running a business. Just like any other business, much planning is going to invest and trade. The aims, aims, structures, targets, budget allocation and monitoring that apply to online stock trading and investing as much as they run in business.

However, losses are one aspect of online stock trading and investment that is at least understood.

In the business of investing and trading the stock market, there are two main inputs – information and capital. Information can be borrowed or it can be your own. By lending information, we mean relying on someone’s recommendation or listening to the media or just a friendly ‘tip’ to buy the stock. Capital is the money given for an online commodity trading business and investment.

Both inputs include information, especially whether a trader or stock market investor is similar to business assets, using which company is derived from its revenue. Money is on the other hand as consumables or raw materials that are used to add value and in turn generate more money.

When running manufacturing units there are some materials that will either be a waste or the output will not be in accordance with the quality norms. Initially, during the routeing process the losses would be more, but as production is stabilized, losses are falling and very negligible at all compared to the overall layout of things. Similarly, in online stock trading and investing the losses, the expenses one needs to take to learn.

So, the whole game of reducing your losses and leaving your profit is run.

Here are 10 ways that can help you reduce your losses.

1. Know what you want: The first thing for a person is to know if he is a trader or investor. Even in stock trading, he will have to know what kind of trading he would like to do. Would you like to be a sweeper, a daytime trader, a swing trader or a trendy and personal follower? Similarly, when investing, the person needs to question whether it is a value investor or you want to invest in growth stocks or turning stories. Knowing exactly what you want and what you’re looking for is half the battle you’ve won. In this way, one would not run to try the next great idea in the town and add to their losses without knowing what they were doing.

2. Getting a plan: Once the person has decided that he wants to be a trader or investor, the next move is to get a business plan in place. The plan not only includes the strategy that will be played but also the whole process of the amount of time allocated to research, money allocation, stockbroker choice, hardware and software requirements (trading app) and the work. But central to the business plan is the strategy that the trader or investor will use. The strategy must be studied to the detailed details before submitting it to a test. All levels of access and departure, loss prevention and re-registration in the trade should be calculated out. The idea behind having a plan in place is not to respond to stock market developments but to be proactive in advance for any backup.

3. Test of the scheme: Before starting to trade or invest with real money it is important to test the strategy. The post-test test gives an indication of how the strategy has worked over time. Knowing how long a period of losses gave an idea that a series of such losses could take place in the future. Therefore, the stock market trader is not harassed and losses are a trust in his strategy and succeed in the loss of loss losses. The majority of market losses are taken by traders who try many systems and jump from one system to another after taking a few losses. Undertake a proven strategy, but in the case of losses one can break down their position so that the losses are limited.

4. Trust yourself and your strategy: The most important feature of a successful trader or investor is that they trust someone else but their own and their strategy. They take their losses in their path because they know it is part of the strategy that they have been following for many years. Beyond the losses, there are profit strands. If there was nothing wrong in the process of acting in the trade then the profits will take care of the losses. Do not trust your strategy as a businessman who does not trust his own product. Is it possible for the businessman to succeed if he sells a product that cannot be trusted?

5. Getting enough capital to start: Before starting online trading or investing, even part-time, it’s important to get enough capital. This is not only important to cover the losses that will take place, but also because there are opportunities there would be more than one job open in the market and the trader may have uneven balances. If the trade with a higher capital allocation loses one, the trader would only lose confidence in its system due to one trade. Share online trading and investment work on large numbers law. The law states that no single trade defines the trader or the strategy.

6. Data must be collected over a series of trading and then evaluated. A trader should have sufficient capital to continue so that he can collect enough data from the trading series. Taking small losses is important as it will keep emotions out of play. Online commodity market trader in its initial days would not be enough capital and a great loss can be cut.

7. Managing money: If there is one thing that will define whether or not a trader succeeds, regardless of its strategy, then it is the responsibility of managing money. Managing poor money over time will result in losses even if the trader has developed the best strategy. Similarly, a good money management system will help the trader maintain over a longer period even if it trades a bad strategy. The idea is to get the best from both worlds. Capital must be divided in a way that does not compromise more than 1 per cent of your capital on a single trade. This will allow you to collect a larger data point before increasing your size or allocating more capital.

8. Abolition of noise: Noise in the media is a key factor in online trading that divides and invests, and does not think about traders or other investors. It’s normal to be driven by ‘experts’ in the media that says where the stock or market is headed, especially in the formative days. There will be a small test of what these experts said in the past and how the recommendation will have worked out enough for the trader to stay away from them. Social media jobs on these specialists also bring the experience of others who followed the experts. If you need to be successful you must be your own man. You need to take responsibility for the losses and profits and not blame others for their recommendation. This can only happen when you stop listening to others and get your own style. Your own mistakes, even in small things like the internet, have stopped working, because you should ideally have a conflict arrangement. Only profit will start to pour out.

9. Measure your performance: you are your best coach and the best book you ever read as a trader is your own trading logs. Learn from them and make them a point not to repeat them. It is important for a trader to keep track of the number of winning crafts, loss of crafts and the average size of the loss and average earnings. A trader must succeed in maintaining the average amount of loss and the number of losses as small as possible. Just keeping the number of losses is small but take big losses by extending the stopping point.

10. Learn from your mistakes: It is important that you make all the mistakes one can do when you are in the learning period because if you learn from it, you will not repeat it. And if you’ve hit all the mistakes that can be done when trading, very few things will be done. It is very important to keep track of your trades and read it regularly, not forgetting the mistakes you made earlier. It can be possible to reduce losses by not replicating your mistakes. Losing loss and not learning from it is a bigger loss.

11. Learning to forgive and forget: Trade is a new trade. The previous trade that has led to gain or loss is history. Learn to forgive yourself if the previous trade was a loss and forgetting a winning trade because the next one can block you. Like a cricket where the bat cannot be over-confident even if it has hit the five previous balls out of the border, the sixth one can send it packing. It is important to maintain discipline and not go over the road in a winning streak as well as not having depression with a series of losses and trading stop. Online sharing trading has a lot to do with cricket, you need to stand in the wicket, a score of so many belts, although many can lead to a single and maybe few will not lead to any, but the key is to stand there for the loose ball that has to be hard and one you do not need to waste it. Rule 80-20 applies to trade as it has too many other areas. 80 per cent of the profit comes from 20 per cent of trading, but one will have to be there to take all the trading.

12. A trader should not join psychological losses, he should not take it personally, and that’s why it’s important to have a small trading when learning the ropes.

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