3 Tips on Continued Small Business Growth

Do you see your small business in a pattern of continual growth?

If you are not sure or even say no, don’t you think you need to address this matter?

By positioning your small business in the right direction, you can reap the rewards for years to come.

That being the case, where should your focus be when it comes to small business growth?

Doing what is Best for Your Small Business

In positioning you and your company for good things, hone in on these areas:

1. Being smart with money – How good of a job have you been doing when it comes to business finances? Your company can’t be all that successful if money is a continual issue. That said you want to be smart with the dollar. There may be times where you could use a little financial boost to improve your business. If this sounds like your company, where will you go for help? One thought to consider would be to apply for a revolving line of credit. If approved for that line, you can tap into those funds at a pre-approved limit when necessary. Use the money for what you find to be your most pressing needs or needs. Speaking of being smart with money, also make it a point to watch how you spend. Spending too much can be costly to your business in various ways. Look for deals and avoid the temptation all too often of using a credit card for business expenses.

2. Giving your customers what they want – You also need to focus in on great customer service. Not only does that mean serving folks when they come to you or visit online but offering them deals. Many consumers look for bargains. If you are not providing customers with discounts, you could end up losing some of those people. Finally, always take the time to get valuable feedback from your customers. See where it is you can in fact improve your offerings to them.

3. Keeping tech in in your business – It goes without saying that tech continues to evolve. As a result, you can’t afford to be left behind. Make sure you are doing all you can with technology on a regular basis. Given many folks use tech on a daily basis, you have to expect they want you to be tech-savvy. That is when it comes to running a business. There are many ways tech can help you further your business. For example, do you have a business app? Having an app can connect you with countless consumers on a 24/7 basis. That connection can lead to more sales and revenue on a continual basis. If you have a business app, it is simple for consumers to download it on their phones. When they do, they can visit your website when they want to. If you have an online store, they can buy goods or services via their phones. That is technology you do not want to miss out on.

As you assess how best to grow your small business, be sure you are doing all you can to have growth in mind.

Continue Reading

Technology Tips For Your Industrial Business

It’s easy to consider the tech tools that directly relate to your industry, but relating the power of digital technology to your operation can do your business a lot of good as well.  If you learn how to champion today’s digital mediums, there’s no stopping the potential of your industrial business.  

 

Start the development process by doing a little research of your own.  Read through this brief compilation of a few tech tips that will help your industrial business take its mission to the world.  

 

Work on developing your website

 

Your industrial business needs a presence online to present a good fight to the competition.  People work in digital terms, and your business needs to rise to the occasion.  Make your website a place for answers.  

 

Your business website should be a reliable source of industry information, and you should be updating its pages regularly.  Use high quality media to engage users, and make sure your loading speeds are fast.  

 

Take advantage of social media’s popularity 

 

Take your industrial operation to social media, and get into the mix of the world’s social happenings.  Something as simple as a few social media sharing icons can boost the connectivity of your company.  This pipeline maintenance company added sharing buttons at the bottom of their page to make it easy for interested users to share their interest with friends/family.  

 

Also, you can’t respond to what people are saying about your company if you’re not taking part in the most popular social media platforms.  Set up shop on LinkedIn, Facebook, and Twitter, and work your social media profile like you work your business website.  Keep relevant, up-to-date content on a regular feed. 

 

Design your digital content for mobile

 

While building your collection of digital content, you’ll want to build for a mobile audience.  Smartphones, tablets, iPads, and other mobile devices are officially the most prevalent method of accessing the internet today.  

 

Play to your audience, and invest in mobile optimization.  Make certain your website, your blog, and other vital content is designed to display and function with ease on a range of mobile devices.  

 

Learn to incorporate the concepts of SEO

 

Search engine optimization has been around for a few years now, and it basically focuses on how to design content that will rank well in the SERPs (search engine result pages).  

 

Ranking higher in the SERPs makes your digital pages easier to find for users looking for information that is relevant to your industry and operation.  Learn how to use the concepts of SEO to boost your brand online, and create more useful digital content.  

 

Always be available for communication

 

Communicating with your digital audience is critical to the process.  If you really want to make an impact on people, your industrial business has to communicate.  

 

Design built-in ways for users to send messages, requests, emails, or phone calls your way, and follow up with an answer as soon as possible.  Make it easy for people to feel connected to your business.  

 

Continue Reading

Stay in Front During a Recession – A Marketing Guide

Sadly, the COVID-19 pandemic has had a massive impact on the world, infecting millions and killing hundreds of thousands. Even worse is that the impacts are much broader: It appears as if we are heading for a global recession. This will increase the pressure on businesses to market appropriately to their customers and find new and cost-effective ways to connect with them.

Thankfully, despite the tough times we are in, there are ways to meet your customers where they are and market to them in ways that are inexpensive and effective. Here’s an overview of how to market during a recession.

Use Social Media – But Use It Effectively

Social media use can be free paid, but one thing is for sure: This may not be the moment for your direct, sales-oriented message.

Social media is most effective when you provide value and position yourself as an expert in your field. During a recession, tactics that aren’t direct sales-oriented become even more important.

As such, use social media to build a connection with your customers. Highlight things that people can do in your industry that can help them save money. There’s nothing wrong with a sales message, but if you’re going to use one, make sure that your other, value-added content is far more prevalent: Don’t be self-promotional with more than 10% of your posts.

Furthermore, remember this fundamental truth: People don’t want to hear about you and your business. They are about themselves, their concerns, and their problems. Your job, as a business, is to position yourself as an answer to their issues. Use your social media accordingly.

Send Post Cards That Aren’t Sales-Oriented

At this moment, your customers and clients may have a million things on their mind that do not involve you or your business. They may be worried about sick family members, laid-off from their jobs, or frightened for their future. As such, this is almost certainly the absolute wrong time to give them a message that is overly sales oriented.

Thankfully, there are postcards that you can use to check in on your customers. As you can see, these cards can be customized in order to allow you to put in a specific message to your customers. This message lets you check in on them, see how they are doing, and gently remind them that you are available to help them, address any concerns or make a sale if they are in a position to do so.

The message that you use with these postcards can be critical. Make sure to ask how someone is doing and see if they need assistance with anything. If you are offering reduced-cost options or assistance for customers who are financially struggling, highlight that. Remember, the message with these postcards isn’t supposed to be sales-oriented. It’s care and compassion.

Get Involved in Community Events

This is the time – more than ever – to find opportunities to network and get involved in community events.

Of course, community events will look different this year, thanks to the physical distancing restrictions that are in place and the bans that most governments have put on in-person events. To that end, you will likely have to stick to virtual events. This means that you will have to dig a little deeper. To that end: What business organizations already exist that can help you find these virtual events? Do you have an active Chamber of Commerce that you can join? Are there local digital networking opportunities?

If your community is starting to hold in-person events again, what events can you find? Where are they? And, more importantly, how can you help facilitate these meetings in a safe way? What can you do to position yourself as a host to these events? Do you have PPE or cleaning equipment that you can give out? Are there critical supplies you can donate that can help make these meetings happen? Remember, being involved in the community can be useful, but positioning yourself as a network host and facilitator can be even more important and personally valuable.

Get Involved with a Charity or Charitable Effort

This is the time – maybe now, more than ever – that people are looking for help. There has been good news across the country and the world, as more and more people have risen to the challenge of the moment, met the needs of others, and donated to local charities and nonprofits.

Your community may already have a robust system of nonprofits that are ramping up their efforts to help individuals in need. If this is the case, what non-profit can you get involved with that will both suit your community’s needs and benefit your business? How can you help? Can you do more than just write a check? Who can you speak with at this non-profit in order to ensure that you take a role which is beneficial to everyone involved?

If your community doesn’t have a satisfactory answer to these questions, ask yourself this: Do you have the capacity, personal network, and financial resources to start your own charity? What unmet needs are there, and how can you and your business fill those needs? That has to be the first question you ask yourself if you are considering starting your own effort. Once you develop an answer to those questions, you can ask other ones: How can you position your business to benefit from these efforts?

Coadvertise

Some businesses naturally fit together and can work synergistically to reduce costs and boost each other’s businesses. To that end, ask yourself this important question: What are some businesses you work well with? If you do landscaping, are there home improvement businesses you can find? If you sell children’s toys, are there kids’ clothing stores you can work with?

From there, identify joint marketing opportunities. Can you develop a joint flier or discount program that you can use to leverage each other’s networks? Can you split the cost of a print or digital ad?

Remember, at this moment, businesses are looking for ways to reduce costs, and so are people. What sort of opportunities can you identify with complimentary business services that will allow you both to grow?

Advertising and marketing during a recession are different than doing so in better moments for the economy. You have to change your pitch and your message to match the moment and ensure effective connections with your customers. However, if you do it right, you will guarantee yourself a leg up on your competitors.

Continue Reading

Steering Towards Commercial Modular Buildings

If you own a small business but cannot find a location for your office(s), then commercial modular buildings could well be the perfect solution to your puzzle. Most small companies aim at possessing the classic physical address but are hindered by the cost of getting one. Nonetheless, if you are a developing business owner, you know how beneficial it is to consider a physical location. Whether you are aiming to move your business out of your private home or maybe you want a separate address and location for tax purposes, getting a physical location will play an essential role in this process. The use of commercial modular buildings is regarded as a wise company decision. It is a good move for your business, as it aims to save money that can be used for investment or even company advertisement.

The majority of business owners stress about modular offices -seeing them as unprofessional. The usual assumption is that modular offices will appear poorly built and cheap, and that clients will see the location of the company and ultimately have a pessimistic impression of the business as a whole. Luckily, advancements in this sector have led to the construction of high-quality modular offices and building.

Some benefits of modular buildings are discussed below.

Space

By moving your business and work equipment out of your private home, you create more space in your house, and, as a result, you have a warehouse to store all your business stock and goods.

Meeting Place

In case you have hired employees for your company, owning a modular office will prove useful when the time comes to hold business-related meetings, as it provides you with adequate space and a suitable environment for work.

As previously stated, modular offices are an effective way to save money if your business does not receive many visits from clients.

Once you have decided to set up your modular office with the likes of smart-space.co.uk, then there are a few tweaks you can make to enhance the interior of your office and make it look more professional. To begin with, investing in furniture can help spruce up this interior. If you happen to be on a strict budget, you can purchase used furniture from a thrift store that is still likely to be in good condition. You can make the place more welcoming with the upgrade of a carpet in the office too. Clients will not be able to identify whether the furniture was bought from a thrift store or not.

Ensure that you have a waiting space for your clients and customers to sit in, do this even if you do not expect frequent visits. Offering beverages such as soda, coffee, tea, or water is a sign of professional courtesy and will make your clients more comfortable.

Commercial modular buildings can be a smart business construction solution so long as the contractor has a good record, either in meeting or exceeding building standards.

Modular buildings are a good idea not only for businesses but also for schools, churches, or any other organizations that need temporary offices in remote locations.

Continue Reading

Tips for Running a Successful Fitness Club

You’ve finally got your dream business of running your own fitness center. You get to spend all day teaching others about the exercises that you love to do. However, there are more factors to consider as a business owner that contribute to running a successful fitness club. In this short article, we’re going to look at some necessary components you’ll need to have at your fitness center to ensure that people stay active with your business.


Have a Fun-Filled Environment of Acceptance

As a gym owner, you must know that you’re the tone that sets how your gym members treat one another. You should provide a comfortable environment for members of all walks of life to come and enjoy the activity of fitness. It doesn’t matter if a member’s goal is to deadlift 800 pounds or to lose 200 pounds, you want to set an example of creating an environment of acceptance. When people come to your gym and feel as they belong, they’ll invite more friends to come along with them. Concern for the comfort of members applies to their physical comfort as well; your gym should be adequately climate controlled all-year round. Simply put, air conditioning service in San Diego will be essential and the same goes for heating repair in Minneapolis.


Manageable Prices

Pricing and managing memberships can be a difficult task for any gym owner. It may seem like you got things straight when you only have a handful of members, but once your memberships start to explode, it can be difficult to keep up with the demand. For this reason, you should have a clear system set up to handle the management of your members so that new members can join with ease. Your pricing scale should be competitive to other local gyms in the area which have similar equipment as your own.

Keep Things Clean

Cleanliness is very important when it comes to owning a gym. Since members will be sweating and using equipment, it can be a breeding ground for some unsightly odors. However, you should do your best to maintain a clean and odor-free environment. This not only includes the gym, but also the bathrooms and changing rooms. People just like to be in clean atmospheres and you should use that fact to your advantage.


Provide the Extras Your Clients Need

To gain loyal members, you want to think from the customer perspective as much as possible. Think about the things that they can use to help their experience at your gym become even better. You can offer post-workout drinks and snacks, fresh towels to use in the showers, shower products, and cold water bottles. Think about these extras as investing in your clients to ensure they absolutely love your gym every single time they walk through the doors.

Offer Free Classes

Whether it’s martial arts or yoga, people love to try out new forms of fitness. It’s a great idea to get various instructors in your doors to offer a variety of fitness courses. We suggest offering beginner level courses for free. This will give a great introductory experience for your gym members. Then, you can always offer more advanced courses at a fee. This will ensure you only get interested members who want to devote time to learning about a specific type of fitness activity.

As you can see, running a successful fitness club can be done with various methods. We highly encourage you to try and implement as many of the above suggestions as possible. Always take the time to think about what your customers want as that is the best way to figure out what to do next to be even more successful than you already are.

Continue Reading

How Easy Is It to Start a Restaurant in 2019

According to The Statistics Portal, Statista, food and drinks sales in the US in 2017 amounted to almost $800 billion, up from $379 billion in 2000. These statistics are proof that the restaurant and food service industry is growing and thus a restaurant would be a good business invest in. But how easy is it to open a restaurant in 2019? Consider the following:

Skills and Experience

To run a successful restaurant you have to be an experienced chef, or at least someone who knows their way around a restaurant’s kitchen. Without that experience, it will be hard not only to choose your ingredients but also to plan your business. If you are not an experienced chef, you have two options. One, you can invest in training.  Two, you can hire an experienced chef. A chef will cost around $20 to $40 per hour. 

Start Up Cost

When opening a restaurant, you will require money to buy furniture and kitchen essentials such as refrigerators, dishwashing machines, cooking pots, ovens and tableware. Additionally, you will require permits and licenses, and these too cost money. A small restaurant will cost roughly $250,000 and the cost can go up to $1 million or more if you are looking for something hi-tech. However, according to an article on Forbes, one investor opened his restaurant for $13,000. 

How large an investment you make depends on your target customers and how creative you can get. If you don’t have a big budget, you could start small and then look into restaurant financing to expand your operations. The Lending Express company’s resource on loans for restaurants highlights instances when you may require a loan for your restaurant. This is a company that offers help to business owners by linking them up with potential lenders. 

Marketing

Marketing a business in 2019 is pretty easy especially if you know your way around the internet. Many people these days are using search engines and social media to find places to eat as well as food delivery services. To market your business on social media, you simply have to create a page or profile, get people to like and follow your pages and keep them engaged by sharing interesting food related content. You can also use your page to share information on discounts and new items on the menu. To appear on search engines, create a website for your restaurant and don’t forget to indicate your address. Then, make a point of publishing restaurant and food related content often. YouTube videos and social media giveaways can also help in marketing your business. Finally, update your business information on Google My Business, Yelp, TripAdvisor and Yahoo Local Listings. However, don’t focus on online marketing only. Some offline advertising can help too. 

Location

The best location for your restaurant will depend on your target audience. You can build your own restaurant, buy an existing one, rent a space in a building, or even buy and operate from a food truck. 

While everything else can be easy, remember it is your menu that will keep your customers coming back. Therefore, if you choose to open a restaurant, have something unique to offer. 

Continue Reading

5 Ways to Improve Your Customer Relationships

Having a good relationship with your customers is essential if you want to be successful and achieve growth in your business. Improving your customer relationships should be high up there on your list of priorities when running your own business as it can either be the key to success or the key to your demise. There are many different features and software that are now available to help you improve your customer relationships, establish customer loyalty and satisfaction.

Customisation 

Customers like to feel special as this makes them feel appreciated and will make them more loyal to your company. A great way to go about this is to customise and personalise each of your customers experience with you. This can include sending individual emails out to your customers that address them by name so that they know you are making the effort to email them directly. 

You should also consider sending your loyal customers a newsletter using software like Mailchimp to keep them up to date on developments in your business. 

Build Trust by Being More Transparent 

It is important that your customers trust you and one of the main ways to build this trust is by being transparent. While many businesses tend to keep their operations secret, you can build trust with your customers by letting them see what happens behind closed doors. This way, they have a greater understanding of what it is you do and what your staff are doing daily. 

You should consider inviting them to your business headquarters and give your customers a chance to have a look around where you work and give them a guided tour. This will help your clients feel special and appreciative while giving them a better understanding of how your business functions. However, it also gives you the opportunity to build a personal relationship with your customers as you can spend time talking to them and getting to know them better. This personal relationship is often lacking in modern day business negotiations so can make for a great added extra. 

It Is About More Than Just the Sale 

Sometimes businesses make the mistake of focussing too much on just the sale transaction and neglect the opportunities available to improve their customer relationships. While it is important that sales staff meet targets and keep the sales coming in, sometimes being too pushy with customers can make customers feel like you don’t really care about them and just want their business. It is important to show your customers that you do care about them as just because they aren’t interested in buying your services or products today, this doesn’t mean they won’t be in the future. 

Sometimes a customer will come back to you later when they have had some time to consider the purchase, so it is important that you make a good impression even if you aren’t making a sale right there and then. 

By focusing more on the overall customer experience when they interact with your business in any way, you can ensure that you are developing positive relationships with your customers. 

Offer Interesting and Helpful Content 

A lot of the internet is now full of content that is used to entice online traffic, in the hope of turning views into sales. Therefore, it is important that you carefully consider the sort of content your customers will find the most helpful and relevant. Offering information that may help them is a bonus reason why they should choose your business over any of your competitors. 

You should also make sure that your content stands out and is interesting enough to hold your customers’ attention. According to Mail Online, the internet age has made us have shorter attention spans due to ‘information overload’. Therefore, it is more important than ever before to offer interesting content on your website so that you hold the attention of visitors and customers. 

Monitor and Review Feedback  

Potential customers are likely to research your company before they do business with you in the form of previous customer reviews. Therefore, it is important that you ask previous customers to review their experiences with you and show these reviews online for people to see. This will help with transparency, as well as offer a way for you to brag about how good you are! 

However, not all reviews are going to be 100 percent positive, so be sure to respond to all feedback to show you keep on top of customer issues. 

Customer relationships are key to your success as a company, as the happier your customers are, the more likely they are to use your business again, and they may also discuss their positive experience with their friends as a way of a recommendation. So, make sure you consider customer relations as important as customer sales.

Continue Reading

Does Your Small Business Need a Lift?

How well is your small business faring these days?

If you are seeing some troubles with your business, you do not want to wait too long to tackle them.

Money Will Oftentimes Be the Number One Challenge

For many, enough money around will oftentimes be the number one challenge they face.

That said do not feel as if you don’t have any options should money be tight these days.

One avenue you might want to travel down would be attempting to access a line of credit.

By seeing which provider is best suited to help you, you move closer to getting a big weight off your shoulders.

In searching to find the right line of credit provider, be sure you do your homework. The last thing you want or need is getting involved with a company not looking out for your best interests.

With this in mind, do some background research on any provider you think about trying to get credit from.

Among the things you’d want to learn about them:

· How long in business?

· What kind of track record they have when it comes to working with small businesses such as yours.

· If they have a top-notch record of customer service with small business owners

By doing your research, you could get that line of credit you need sooner than later.

Finances May Not Be Your Only Need

As important as money is to run a small business, you may have some other needs that you do not want to overlook right now.

For example, how much time and effort are you putting into marketing your brand?

Some small business owners are very adept at marketing their companies. For others, it can be a big mess.

If you do not have the time or expertise for that matter to promote your brand, it would behoove you to find those who can.

One option is to look for an SEO agency.

If you are not familiar with search engine optimization, know that it can do wonders for you.

The right SEO pros can help you with the following:

· Stellar content for your website

· Making sure you use keywords that rank high on Google with such content

· Quality backlinks

· Driving traffic to your website

· Promoting your brand on social media

· Better referral marketing

Those are but a few of the things SEO pros can bring to the table for you and your business.

Last, it is important to promote your business outside of SEO and other such options.

One that should come to mind for you is networking dates, trade shows, community events and more.

By showing consumers what you have to offer, you can be lifting your brand to new heights.

Look at the beginning of the year to see which events locally and in other locales are worth your time to attend. When you set aside time and money to be there, you open the doors to potential business.

When you have a sound business plan in place, chances are that plan will be lifting you and your brand to success.

So, does your small business need a lift before it is too late?

Continue Reading

Important Tips For The First-Time Manager

There are numerous situations in which people just end up promoted to a management position because of the skills that they show at their job. Unfortunately, being good at a job does not mean you are going to be a really effective manager. This makes people have to learn so many new things that can easily become overwhelming. Because of this, German Trujillo Manrique highlights the following really important tips that first-time managers have to always think about.

Always Keep Learning

If you are promoted to the management position even if you have no management training, there is a pretty good possibility that upper management knows it. This means you are often given the benefit of a doubt and room to learn.

One thing that is not often highlighted about management is that you always need to keep learning. This is practically the only way to keep thriving. You have to be patient and build the skill level in practically all management areas. A great way to do this is to get help from mentors.

Start with learning all that you can about time management and how to deal with the stress associated with the new position. This can do wonders to help you to effectively manage whatever happens.

Work With Your Team

Because of the overwhelming nature of being a first-time manager, it is common to see beginner managers break contact with the team. This is one of the worst things that can be done. You cannot simply use a management strategy that you see somewhere and expect great results. This is because what works great for an organization or an individual does not necessarily work in other situations.

Remember that the manager is the liaison between employees and upper managers. This means that you have to take into account what both of these sides say, with the main purpose being adaptability. The way in which you communicate with the team and other important people in the company dictates results.

Some of the things you absolutely have to remember include:

  • Make sure services are properly budgeted and funded.

  • Never ignore problems and try to solve them as soon as possible.

  • Do create urgency when it is needed.

  • Analyze past practices. You want to question them and see how they can be improved.

  • Do research absolutely all things associated with the issues that appear.

  • Make decisions and stick to them.

  • Take initiative.

Offer Constructive Feedback

As a manager, you need to offer feedback. However, if something goes bad, so many first-time managers fail to talk as they are afraid critique will make them less popular. Management has nothing to do with popularity. It is vital that you offer both negative and positive feedback. Whenever a project is over, you need to discuss positives and negatives. A failure to do this can easily lead to two unwanted situations:

  • Staff members only receive negative feedback so they end up feeling like nothing they do is right.

  • Staff members only receive positive feedback so they gain false confidence.

Continue Reading

Becoming A Trader – What Are The Steps?

Thanks to the Internet, becoming a trader has never been easier. Previously the exclusive premise of trained Wall Street brokers and professionals, the trading industry has been blown wide open by the range and reach of information available for amateurs and newcomers online. Trading is lucrative, it’s (reasonably) simple, and it’s enjoyable, too, especially if you like your work to be varied and exciting.

It’s not easy to know exactly where you need to start, though. Trading might be more accessible than it’s ever been, but it can still sometimes seem a little “closed off” to those who aren’t in the know about the steps they need to take. We’ve put together a useful list of steps you need to take to get you started as a trader.

1. Know yourself

Unfortunately, the first step doesn’t actually involve getting started on trading, or at least not right away. Put simply, you need to know who you are before you start trading. Do you have the skills required to make this a full-time job, and to commit yourself to it as though it were any other form of employment? When you become a trader, the onus is all on you. There’s no employer looking over your shoulder and making sure you complete that assignment on time, and there’s no punch card you slot through every time you clock in.

If that sounds attractive to you, then that’s a good start, but you’ll also need a very good head for numbers, a sense of self-worth that doesn’t get knocked during periods of downtime (which there will be), and a working knowledge of the ins and outs of finance. If you’re confident that you have all that, or that you can acquire it, then congratulations: you’re the right kind of person for trading.

2. Research markets and brokers thoroughly

The Internet isn’t just a great resource for trading in itself; it’s also a fantastic place to simply learn more about your chosen subject. In the case of trading, for example, it’s imperative that you understand the difference between the various kinds of securities you’ll be trading in, as well as the dynamics of how these different securities trade and how they will impact your capital.

Depending on the kind of trading you want to engage in, you’ll also want to research your brokers thoroughly to get an idea of the best services available to you. Websites like Forex Trading Expert are fantastic for this. Forex Trading Expert collates all the top foreign exchange trading brokers and rates them based on independent research and community review, so you’ll always know you’re getting the best service available.

3. Build up capital before you start

During your time as a trader, it’s inevitable that you will have downtime. Whether you make a mistake in terms of investment or the stocks you’ve invested in simply don’t perform too well in a given period of time, it’s no reflection on you that there will be times when trading doesn’t make you the profit you’d like it to. During these times, it’s really important that you have a bed of capital you can fall back on.

This also depends entirely on the scale at which you intend to trade. If you’re a small-scale trader and don’t want to enter too heavily into the market, then you’re probably safe with a smaller amount of capital (say $25k-50k). If, however, you want to trade as a full-time job and don’t intend on having any other supplemental income, then you should have at least around $100k-$150k before you begin.

4. Keep an eye on strategies – and don’t be afraid to switch

There are a number of tailored trading strategies available to both novices and experts, and they’re great ways to get started. It’s wise to have more than one strategy under your belt so that, should one strategy fail, you can easily switch to another one without too much loss of capital or time. There are plenty of books and articles online which can help you to devise or adopt optimal trading strategies.

There will also be times when a strategy which has served you well for months suddenly doesn’t work any more. When this happens, it’s time to switch. Find yourself more than one trading strategy, preferably from different sources, and switch between them depending on the state of the markets. You should also be continually looking for new strategies – keeping on top of the markets and how they’re moving is crucial for a trader.

We hope these initial few steps help in getting you started on the road to becoming a trader. It’s unpredictable work, but it can be immensely exciting and – more importantly – extremely profitable for you.

Continue Reading
1 2 3 6