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Managing a Dropshipping Business Requires a Few Tricks of Its Own

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StrategyDriven Managing Your Business Article | Managing a Dropshipping Business Requires a Few Tricks of Its OwnMost people reading this probably has a decent idea regarding how profitable and hassle-free dropshipping can be as a business model, which is undeniably true. However, as it is with any type of business model, there are a few tricks to it that a shrewd businessperson needs to be well aware of if they hope to make it all work in perfect synchronization.

Evaluation of Supply/Manufacturing Partners

The whole idea of dropshipping being a profitable, hassle-free business model depends on the assurance that you have a reliable and diligent supply/manufacturing partner. Therefore, it is critical that you evaluate the companies properly, before partnering up with them. The following tips could help in getting it right.

  • Order product samples to first check the quality
  • Check their history with previous partners
  • Look closely at the company policies regarding shipping timelines and how strict they are with maintaining them
  • Go for a “loose” or trial contract for 3 – 6 months to know if they are indeed true professionals

Those that end up with long partnerships with the wrong supply partner are likely to lose business credibility, reputation, and money. Every time their supply partner makes a mistake or does not bother to conforming to the dropshipping business’s standards, it’s their brand in front of the customers that lose out in every department.

Understand that Your eCommerce Website is the Only Asset You Own and Act Accordingly

Your dropshipping site is the only business asset you own and need to manage. Due to the nature of the business model, a website is also pretty much all you should need to commence with a dropshipping business.

On the other hand, if you end up with an unreliable host or build your site on a poor eCommerce platform, the whole business will suffer. High downtime, unscalable and overly expensive plans, a lack of sufficient automation features, extra charges for even basic tools, hidden costs, insecure and buggy platform design, etc. can all add up to the failure of your dropshipping venture.

In short, pay special attention to the host, platform, and web design because they are essentially what represents the whole business. To ensure customer security and assurance, go through the PCI Compliance details here to make sure you are not unwittingly breaking any of the set standards.

Devise a Strict and Penalizing Contract

Some companies in the supply chain are pros who would not let their partners down because they know it’s bad for business in general. Not everyone is so professional and practical, unfortunately, so you will need to have a strict and penalizing contract so that there are repercussions if your business’s standards are broken by your supply partner. Consult with a business law firm to draw up the contract and if it is fair, as well as strict, chances are that your dropshipping business standards will be respected by your supply partner.

There are other measures that you can take to further boost your chances of success in the dropshipping segment, but these are by far the most important ones to take care of. So, pay attention to the basics first and the rest you will learn about in time.

Giving Back: Why So Many Entrepreneurs are Turning to Philanthropy

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Whether they are starting a company with a goal to donate a portion of their revenue each month or they are setting up a charitable fund once they are successful, more entrepreneurs are turning to philanthropy. Let’s take a look at why this trend is building.

StrategyDriven Entrepreneurship Article | Giving Back: Why So Many Entrepreneurs are Turning to Philanthropy

A Chance to Give Back

Many entrepreneurs like to give something back to the communities that raised them once they have reached a certain level of success. It is a sign of gratitude and could also be a platform to help others escape circumstances they may have faced in their younger years. It can also be born from a desire to see those they are passionate about flourish and do better.

For example, London entrepreneur Tej Kohli has chosen to give back to his native India by setting up a charity to help people with corneal blindness. Likewise, Bill Gates has his own charitable foundation. They have helped with many projects around the world, and have been able to give plenty back.

Reputation

It is good for a business’s reputation to be able to demonstrate they engage in philanthropy. There are so many good causes out there to support and associating the name of a company with the right project can be fantastic. While philanthropy should always be born from the desire to make the world a better place, it can also be used as a boost to a company’s image in the wider world.

Philanthropy can also be used to boost the reputation of the charity that they are working with. If a company is particularly well-known, be that in their local area or the wider industry, a charity’s association with them can bring attention from parties that they may not have attracted otherwise. For example, a company could choose to sponsor the local children’s football club, potentially netting them more sign-ups from parents who read about the sponsorship in the local newspaper. Even a small act of philanthropy can achieve waves.

Achievable on Every Level

Whether a business owner runs a small e-commerce start-up out of their garden shed or chairs a global corporate empire, they will be able to give something back. With so many causes out there, it is easy to find something that would appeal to the core values of a business, no matter what it might be.

More and more companies are choosing to engage in some philanthropic work and it is bringing some serious positive changes in the world. Charities often provide voices and support to those who may not find it in other places. By funding their work, businesses are able to contribute to the betterment of humanity overall. This is a wonderful endeavour and it is to be commended. Take a look at some of the most well-known companies and brands and find out how they are giving something back. It can be surprising to find out just how many of them are supporting charities in some ways. Help can always be found where you least expect it.

5 Creative Marketing Ideas to use in 2020

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StrategyDriven Online Marketing and Website Development Article, 5 Creative Marketing Ideas to use in 2020

2020 is here, ready to change the world entirely. Many things this year have been transforming. The approaches that businesses are taking to sustain have also exclusively revolutionized. The silver lining comes from the fact that the room to be creative and explore has increased by a significant amount. You can give your consumers a real taste of augmented virtual reality and can shape the trends. The use of the latest technologies like artificial intelligence can be integrated into your marketing practices to bring out the abilities. From email personalization to e-commerce communication, you can smartly use various ideas to foster the marketing methods to new heights. That is going to both help and cultivate your business into what you want it to be.

The requisite of smart marketing tactics is the need of an hour. With that, the cat is out of the bag, and here are the five most creative marketing ideas you could use in 2020 to grow.

1. Innovative Chatbots

There is no fun in marketing if it is not as ingenious as it can be. Businesses that can provide a creative edge to any marketing idea will foster more clientele in every way. The era of websites has changed dramatically; consumers no longer want to search for what they want. With one click, they want the work made much more straightforward.

By introducing chatbots, you can achieve that within no time. These chats can direct the users to the exact page they are looking for, making your website seem efficient but very effective. There are no better marketing ideas than competence. That can help you gather insightful information about consumer trends and choices, crucial for making marketing strategies for your business in the future.

2. Create Crisp Content

Rich, well-structured content creates for decent user experience. Social media surely has the power to make or break your business. That is where the element of surprise comes into play. You can repurpose your content in the boosting way that cannot only increase traffic but also make people hooked. With options like Designrr, you can revamp your blogs, posts, podcasts, and anything that can elevate your marketing game to the next level in an inventive manner. It will grow your business is a much more significant manner and attract the right kind of people.

3. Tell Your Story

A great creative marketing idea that is directly off the charts is telling your story the people. That is not about composing fiction or false stories to attract customers; instead, it is about building a connection with them that is much more emotional. With storytelling, you can invoke sentiments in your consumers that they can associate with better. Right here is the most compelling form of communication. It can bring that element of stability in your brand and make it much more real and genuine for the people. If you can master the art of storytelling, your sales will surely skyrocket through the roof. That can give you a marketing edge on many other competitors and make you shine much brighter.

4. Use of Guerilla Marketing

It has to be one of the most creative yet underrated marketing ideas that have not been utilizing to their full potential. There is no secret that this is tricky, but once done effectively, it can change the marketing game for you overall. Once it catches people’s attention, this idea can spread like wildfire and do most of the work without any hassle. In 2020 where everything is so fast-paced, this is a great way. You could put something out there on social media, and through the two-step-flow process, it can utilize. That helps build opinion leaders and uses them with their authority over the clusters they associate themselves. Nothing can give your better coverage than this.

5. Engage Through Personalization

Anything that has a stamp of personalization over it can make it very far. Marketing experts all over the globe very much encourage this particular idea for any small or big business anywhere in the world. Dig sincere, my friends, and keep digging deep. Only adding the name of a customer might not do the trick. You must learn and analyze the trend and patterns that pike their interests. That can make them feel so much special than you could ever anticipate, and this can lead to developing a much deeper connection with your brand or services. It has to be one of the cleverest yet effectual ideas to be done. It helps understand behavioral segmentation better and can help implement more strategies in the long run.

Conclusion

Marketing ideas need to upgrade each time, like the phone software. You cannot expect one idea to work the same way longer periods. People crave excitement, and you must give it to them. That can make only widespread when you add creativity to every element of marketing. It builds anticipation, which makes people more enquiring.

In-House or Outsourced IT: Which Is Best for Your Business?

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StrategyDriven Managing Your Business Article |In-house or Outsourced IT|In-House or Outsourced IT: Which Is Best for Your Business?Presently, IT businesses have a lot of requirements and various tasks to be done from design, content creation up to development, marketing, and administrative work. Every task is important and requires human resources. The main question is whether to hire a full-time in-house team or outsource and bring in the experts only when it’s necessary?

In-house vs. Outsourced IT: What’s the difference?

The insourcing or in-house team is a practice when the work and tasks are performed within the operational infrastructure of the company. While outsourcing is a process of contracting experts, who are not affiliated with the organization, for completing specific tasks.

The main difference between the approaches is the way tasks, projects, and work are divided between the departments for strategic purposes. So, what is best for your company: an in-house or outsourced team? Both approaches have their own benefits and limitations. Let’s get to the bottom of the beneficial and negative impacts of each practice.

In-house IT team: Benefits and Limitations

Hiring employees to your in-house IT team, the huge advantage is that you can train them to your business’s specific needs, and the workers are always available. When interviewing the candidates, you choose only those who suit the requisite level of skills, knowledge, experience. Thus, you control, monitor, and track all the processes of hiring and work.

The deep understanding is the next advantage. The office workers know the culture of the company and are aware of all project aspects and business objectives. Besides that, they work with the project from the very beginning that means they know it in detail. Thus, the team can start to work immediately without a need to get familiar with it.

The high quality is an unquestionable advantage of insourcing that stems from the previous issues. When you build the in-house team, you can be sure that they will do their best, and you’ll get the results that suit your expectations.

The main drawbacks of hiring office workers can mainly relate to the initial financial outlay. Thus, you need to train the newbies of the team, and after you need to constantly update their knowledge and skills. That can be a costly affair.

That’s saying nothing about the regular salary with the full pack of employee benefits, including vacation, sick leaves, and so on. Besides, it doesn’t matter if there is a task for a worker or not, you need to pay a salary anyway.

Absence issues are the next pitfalls to mention. In case your team member is sick or just leaves the company, some time along with the money is needed on new hiring or endure project pauses.

Outsourced IT team: Benefits and Limitations

Due to the Deloitte global outsourcing survey made in 2016, there are two primary reasons companies outsource:

  • to cut costs;
  • to free the in-house team to focus on core business objectives.

These are the main advantages though. No need to pay high salaries or equip the workers. You can bring in the outsourcing developer, writer, designer, etc. with a specific skill set to take a certain task only.

That gives time for your full-time staff to complete and focus on core business functions. Outsourcing gives you access to the huge talent pool. Not only can you hire specialists all over the globe, but also the rates of overseas professionals can be lower.

The biggest cons of outsourcing IT teams is the poor quality of work and management issues. It can be a challenge to find a freelancer to meet the expectations and to accomplish the task in time.

Bottom line

Today the economic situation makes businesses more flexible and search for new approaches to stay afloat and competitive. Facing the choice between the in-house and outsourced team, it’s evident that there is no one-size-fits-all solution to this dilemma. When dealing with the right in-house IT team, the time, patience, and diligence is required. Also, you should clearly understand what skills are necessary for the business to be successful in the long term. In its turn, outsourcing can be a more cost-effective and immediate solution. However, as evidenced in practice, the best way is to combine these two approaches. Take the most important roles in-house, delegating some tasks like guest writing, graphic design, problem troubleshooting, etc. on-call to make workflows more efficient without additional expenses added.

About the Author

StrategyDriven Expert Contributor | Alexey KutsenkoAlexey Kutsenko is CMO at DDI Development company, that provides custom web & development services to worldwide clients. Alexey has a vast experience in building marketing strategies for various clients, defining the client’s needs, and leading digital marketing strategies in the company.

Hot Desking, Dedicated Desks And Coworking Spaces – What You Need To Know

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StrategyDriven Managing Your People Article | Hot Desking | Coworking Space
 
If joining a coworking space, one can get lost in a maze of spaces, each offering similar amenities but also being very different in culture and attitude. In New Zealand’s coworking landscape, you can find a mash-up of spaces, but choosing one depends on the fit of your business. Unlike typical office space, spaces have a personality of their own.

However, many spaces have a basic menu that provides a place to work and use the amenities associated with most offices. Some spaces provide office support in the form of a receptionist while others might focus on improving the amenities. To maximise the use of the spaces, prospective coworking professionals should research hot desking, dedicated desks, and coworking spaces to get an idea of what they might encounter.

Let’s take a closer look at the coworking platform and all its variations so you can choose the best option for your business.

Ins And Outs

Excepting the basic coworking space that provides Wi-Fi access and a table to work at, and maybe coffee, most coworking spaces worth their salt provide businesses with a menu of options. In addition to both the hot desk and the dedicated desk, private office space is available as well. Many of these spaces include the use of meeting room space with some providing the option as a part of an a la carte menu.

In Auckland and a few other cities, you might find spaces that cater to a particular type of business, as coworking has definitely evolved to include all businesses. Furthermore, the cost can run the gamut as well with high-end spaces catering to a more sophisticated crowd and more affordable spaces offering up practical amenities that can help businesses. Usually, the leases are month-to-month, or very short, and so being tied to a protracted lease is not an issue.

The coworking space is one that can be used to help your business comfortably grow. With larger spaces that have other plans, you can transition your business up or down to suit its needs. Finally, if lucky enough to find an internationally-operated coworking space you can benefit from spaces in other locations around the country and world.

Hot Desks Versus Dedicated Desks

While they occupy the same space, there is a marked difference between the hot desk and dedicated desks. The hot desk simply is a workspace that is shared with other professionals. You have access to the desk. In many cases, these spaces provide free Wi-Fi to professionals and come equipped with the standard office equipment you might find in your average office.

The dedicated desk, alternatively, is a permanent desk that professionals can lease monthly at a higher cost. These desks provide a little more privacy, and so if your business requires confidentiality, the dedicated desk is ideal for this option. While you might get more perks with the dedicated desk, you have access to similar office equipment.

Whether one is better than the other all depends on the needs of the business. Generally, sharing space requires everyone to leave the space clean. Furthermore, those who need workspace all the time might not be able to access a hot desk during peak times, but a dedicated desk is always available. Conversely, working alone in the dedicated desk, you remove opportunities to socially interact with others. Really, the advantage or disadvantage depends on the needs of the renter.

In The Know

These are the basics of the coworking space and the two most popular plans, but again once, heading out into New Zealand’s coworking community you are apt to find variations on the coworking concept. Any way you look at it, both options are still much cheaper options to even leasing the serviced office. More importantly, the potential to grow your business on platform primed to for success makes any choice good.