Buying and selling online

This 2020, many people here in Perth are finding ways to make money in front of their computer from the convenience of their homes. If you’re one of those who want to want to earn money while at home, perhaps it’s the right time for you to think about setting up an e-commerce store.

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Setting up an e-commerce shop can bring you tons of benefits. However, this type of business requires experience, skills and a good level of emotional intelligence – just like when running a brick-and-mortar store.

Nowadays, millions of entrepreneurs are carving out a nice in the world of e-commerce. E-commerce is the process of buying and selling products via electronic channels such as the internet. It was first introduced in the 1960s via an electronic data interchange (EDI) on value-added networks. Right now, it has grown tremendously that it has already become part of modern people’s lives.

Today, customers no longer need to travel to stores to make their purchases. This digital age has reshaped how businesses operate and provide multiple access points for customers to purchase what they need.

E-commerce allows consumers to electronically exchange goods and services with no barriers of time or distance. It has expanded rapidly over the past few years and is predicted to continue at this rate, or even accelerate. In the near future, some anticipate that e-commerce will become the new “convenience” as more and more businesses move sections of their operations onto the Internet.

So if you want to start your e-commerce business, you should know the fundamentals, the possible problems you will face and other trends that can give you an edge over your competitors if you know how to anticipate them.

To learn more on how to start a business that buys and sells products online (e-commerce), you should definitely need to check out this helpful guide:

5 Big Challenges To Launching A Startup And How To Overcome Them

Nowadays, countless people here in Western Australia and other regions around the world hope to become an entrepreneur and come up with the next giant brand. Well, who wouldn’t like to become the owner of a successful company, becoming your own boss and leave a mark on the business world?

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Perhaps, there’s no better feeling than creating something from scratch, bringing value to the people around you and, of course, making a bit of coin along the way. However, this will only happen if you become successful. Too often, only a small percentage of start-ups succeed, while the remaining majority fail.

Unfortunately, not all start-ups can become successful. To run a good business you have to be able to assume the proper role. If that means doing things and acting in ways that don’t come naturally, then so be it. Otherwise, you will risk failing like those companies that fall.

So if you want to launch your startup, you need to accept the fact that this world that you’re going to enter is not a joke – your business is destined to fail so you need to do something in order to escape that fate. At the same time, do not let the fear of failure prevent them from going for what you believe to be a great idea. Some of those risks won’t pan out, but the ones that do will be the ones that define you.

One of the reasons why start-ups fail is because they do not know all the things about their niche. In order for your startup business to survive, you first need to identify your niche first and study your market. This should be the first steps to take before actually spending time and money on your launch.

To learn more about the challenges of launching a startup and how to overcome them, you should read this nice article:

10 easy vegan recipes you’ll want to bookmark

There are many reasons why many Australians decide to become vegan. These reasons include health (perhaps the most popular), religious convictions, concerns about animal welfare or the use of antibiotics and hormones in livestock, or a desire to eat in a way that avoids excessive use of environmental resources. Some of us follow a largely vegetarian diet because they can’t afford to eat meat.

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Vegan diet

Nowadays, becoming vegan has become a more accessible and appealing option due to growth in farming resulting in more fresh products being produced and more vegetarian options. We have also experienced growth in the culinary influence of cultures with largely plant-based diets.

Before, people believe that being a vegan can lead someone to become nutritionally deficient. But in recent years, this belief has swung 180 degrees and several studies are confirming the health benefits of meat-free eating. Today, eating only fruits and vegetable is recognised as not only nutritionally sufficient but also as a way to reduce the risk for many chronic illnesses.

For health, it’s important to make sure that you eat a wide variety of fruits, vegetables, and whole grains. It’s also vital to replace saturated and trans fats with good fats, such as those found in nuts, olive oil, and canola oil.

Though there is still no concrete basis that being vegetarian can protect you against major diseases, one thing is for sure – vegans tend to consume less saturated fat and cholesterol and more vitamins C and E, dietary fibre, folic acid, potassium, magnesium, and phytochemicals. This means that they’re likely to have lower total and LDL (bad) cholesterol, lower blood pressure, and lower body mass index.

However, becoming vegan is not for everybody. If you are one of some people who follow recommended guidelines on nutrition, requires a certain amount of fat consumption, or underweight control, becoming vegan is not right for you.

Want to become vegan? Try these easy recipes at home:

How a culture of experimentation can help your business grow

If you’re a business owner, you should recognise that there are many factors outside of your control that can affect their business’ growth rate and productivity. This is true even to those who have many years of experience.

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Business experiment

Your company’s direction, as well as your customers and competitors,  are unpredictable and they are unique in their own way. Great entrepreneurs also realise that they don’t know everything. They know that learning and growing are part of the entrepreneurial process. Sometimes they decide to try something new and just see what happens. In other words, they experiment.

As a business owner, you need to do everything you can do to meet your customers’ needs. Businesses introduce new products and services that they believe are an improvement over what they offered before. However, consumer reaction to new things, including new marketing campaigns, can be either positive or negative and it can be surprising.

Experimentation on a small scale allows entrepreneurs to predict the outcome on a larger scale. No business owner has complete knowledge of the business environment. So in order to know about the business environment, they have to experiment. It allows them to obtain more real-world data about their environment.

Experimentation is advantageous to business owners. It helps save money. How? Instead of plunging into a new market with a large expenditure of resources, your business can limit its financial exposure in the event the strategy does not work. Experimentation allows you to pursue more than one opportunity to discover which one has the most potential.

However, the challenge really is how to interpret the results of your experiments. You may not know when to declare the experiment a failure and pull the plug on any further expenditure.

Through experimentation, businesses can get a ton of benefits but you need to make sure how to properly execute such experiments from start to finish. For more on business experimentation, check this out:

Financial advisers share tips on how to avoid money traps and uncontrolled spending

All of us want to start off the month with the best intentions to save money. We would like to purchase only what we need, to steer clear of the sales display we see in malls and online, and to try to watch on our spending.

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Avoid overspending

However, despite your best efforts, achieving your savings goal just seems to happen. You’ve spent more money than you wanted to before you know it. Don’t beat yourself up, it happens to many Australians like us, so before you get your next credit card statement and wonder how to stop spending money, learn the tips from financial advisers on how to avoid money traps and uncontrolled spending.

There are a number of reasons why you overspend. It could be because you aren’t aware of your true spending habits. Maybe we are unable to properly determine our income, expenses, debt payments and spending. Then, in the end, our bank account balance dips lower than what we expect.

Tracking your spending is one of the most effective ways to control your spending. Tracking even your littlest purchases is helpful because they can add up, and by the time the end of the month rolls around, you can be facing high credit card payables and severe buyer’s remorse.

Tracking your expenses is the key to successful budgeting because it keeps you accountable for every dollar you’re spending. Once you’re aware of where your money is going, you’ll be in a better position to make smarter spending choices and to identify areas you can cut back in.

Most of us here in Perth only track their bigger expenses. However, it’s just as important to pay attention to those small, daily purchases. A single coffee you order form a coffee shop, a few litters of gasoline you purchase from a gas station, or a number of items you grab from a grocery can add up more than you think they would, and they can affect our budget in big ways.

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Risk Management

As an entrepreneur, no matter what type or size of business you run, you need to know how to manage risks on a daily basis. Risk management is one of the most important things you do. If you learn how to apply a systematic risk management process, and put into action, then your business tasks will run more smoothly and be a positive experience for everyone involved.

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What is risk? Commonly, a risk is defined as an uncertain event that can have a negative impact on your goals. However, it can also create positive effects. It is natural to fall into the trap of thinking that risks have inherently negative effects. If you are also open to those risks that create positive opportunities, you can make your project smarter, streamlined and more profitable.

The risk management process starts with assessing the risk and analysing it. A risk assessment evaluates your business’ exposure to uncertain events that could impact its day-to-day operations and estimates the damage those events could have on your business’ revenue and reputation.

Once you have identified the risks, you need to determine the likelihood and consequence of each risk. You develop an understanding of the nature of the risk and its potential to affect project goals and objectives.

When it comes to risks, you need to know how to evaluate or rank the risks. You can do that by determining the risk magnitude, which is the combination of likelihood and consequence. You make decisions about whether the risk is acceptable or whether it is serious enough to warrant treatment.

Those risks that you ranked the highest should be your priority. You need to set out your plan to treat or modify these risks and set out a plan to treat or modify them to achieve acceptable risk levels.

For more on risk management, read this:

Majority of Australians admit to spending up when they are feeling down in the dumps

Making an impulse purchase is kind of fun – at least at the moment. However, it can wreck your budget real quick. So, if you have a problem with it, it is important that you know how to prevent impulse buying. Otherwise, you’ll end up in a deep financial hole.

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What is impulse buying? It is the way you buy items that you may or may not need that your budget cannot afford. It can be a newly-released gadget, a new pair of shoes, or a cute sheet to be on sale, or something else similar.

In order to stay within your budget, you’re going to have to stop these types of purchases. There are several trips that you can use in order to avoid impulse buying.

First things first: you need to make a budget. Making a budge these days has never been so easy with so many free budgeting apps available online. You can simply download a budgeting app to your mobile phone and use it to create your daily budget. However, once you have your budget, you must stick with it. A budget isn’t a magic wand that will suddenly make all of your money behave. It’s on you to tell your money where to go each month and then follow that plan.

Another way to avoid impulse spending (especially if it’s a convenience store type purchase) is not to carry cash. Refuse to pay the extra fees that are charged on your debit card and just do not buy anything but gas at the convenience gas station.

You also need to shop with a plan. First, determine what you need to purchase and how much you’ll spend before you even start shopping. With a plan in place, you’ll be less likely to give into overspending.

Do you want to know what makes Australians overspend? Check this out:

Rent to buy | ASIC

Houses, cars, appliances, gadgets, etc are so expensive these days. Good thing is that we have rent to buy scheme. Both buyers and sellers can benefit from this type of arrangement, but it is important you also understand its risks.

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Rent to own

Rent to buy is a worldwide scheme, designed for people wishing to purchase or sell something over time. It gives buyers an option to live in their dream houses or drive their car which they intend to buy at some point in the future.

Unlike the traditional purchases, the buyer and seller in the rent to buy scheme does not complete the purchase more or less immediately after agreeing to terms at closing. Under this term, the buyer and seller agree to the possibility of a sale at some point in the future.

Ultimately, the renter or buyer decides if the transaction will actually take place. In the meantime, the seller receives payments, and a portion of those payments usually reduces the money needed to buy the house at a later date.

Rent to buy scheme is designed to ease the transition between renting and buying and allow people to be able to afford to buy their own home quickly and hassle-free. For example, when you have found the right house that you want to rent to buy, you, as the buyer, have to put down a deposit on the property.

This deposit will be significantly less than most require, and you can put down as much as you want. The difference is: with a small deposit, you will have to pay more monthly rent towards the property, whereas with a larger deposit, you can look forward to paying a smaller monthly rate.

On the other hand, rent to buy scheme also has disadvantages. To learn more about this type of scheme, click here:

Rev up your retirement savings by working out how much you’ll need

Perhaps you’ve already heard a lot of people saying that planning for a comfortable retirement is not an easy task. It takes a lot of planning, time and effort. At times, it may seem like an overwhelming job, but if you start as early as now, this goal can be achieved.

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Planning for your retirement as early as today can help you achieve your goals and allow you to maintain the lifestyle that you want in your later years. Starting early can help you keep on track on meeting your retirement goals. Unfortunately, there are many Australian employees who don’t know if they are saving enough for retiring comfortably. Due to lack of planning, these employees fall into the “unknown” category.

Having at least a basic plan can help you take control of your journey towards a comfortable and successful retirement. This will also help you gain confidence.

The first step of an effective retirement plan is determining what you will need to retire. Even if retirement is a long-term goal a ballpark estimate will do. You can estimate what you will have available by looking at your current investments and retirement income sources. Then, calculate what you need to save annually to meet your retirement goal.

Once you’ve done creating your retirement plan, the next step is implementation. If you want your plans to become successful, you need to execute. This can be a challenge since procrastination will serve as the biggest roadblock on your path to financial independence. You need to be disciplined and focus on your long-term goals.

With enough planning and sheer will, retirement planning doesn’t have to be difficult. But how much money will you need in order to achieve a successful retirement?

Check out this article from Perth Now and learn how much you’ll need to retire comfortably:

Two Perth projects recognised at Australian Interior Design Awards

Do you want to make your home more beautiful? Any home can be beautiful with the proper application of basic interior design methods. If you want to have a pleasing home, you can study interior design even if you don’t want to make a career out of it. Who knows, maybe you’re gifted with an eye for beauty and interior designing?

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Interior design

Even without formal training, it is possible for you to do your own interior design. All you need to do is to use your creative mind. As long as you have an eye for what is aesthetic, you can just as easily decorate and design your own house depending on your tastes. Of course, it helps to read books and articles about designing to be updated on the basic and latest design methods.

You don’t have to complicate the idea of interior design. Just by putting together several pieces and unifying them in a single theme, you can create an interior design that makes a specific atmosphere. You can conceptualise certain interior designs for certain motifs like fictional, classical or even country style. On the other hand, you can always go for simple designs without the clutter.

Keep in mind that when designing your home, it doesn’t only be considering the aesthetic feature. Instead, you also need to consider the functionality depending on your needs. You can make a small room spacious and an otherwise cluttered room into an orderly one. Interior design is used just about anywhere from homes, offices to commercial buildings.

Nowadays, interior design is about incorporating the right engineering and aesthetic design with sustainable development. Even designers are now more conscious about the state of the environment so they tend to use environmentally friendly materials for their designs.

If you want to learn more about interior design, you should check out this article about two Perth projects recognised at the Australian Interior Design Awards: