Things to keep in mind before making investments

Where does one Stand Financially?

Before you begin finance, it’s vital to own a transparent image of your finances. You may be investing cash intending to get returns. And so, it is essential to understand specifically what quantity you’ll invest in and wherever you can do (if any).

The investment process is analogous to making a budget. You list down all sources of financial gain together with your salary, incentives, bonuses, interest from fastened deposits, and the other ways in which within which you would possibly expect to receive cash throughout the year. Segregate these amounts supported the frequency at which you receive them – weekly, monthly, annually, and so on

Next, sit together with your bank statements for the last six months and begin listing your expenses. search for fastened outgoings like rent, utility bill payments, groceries, loan installments, and the other fixed monthly expenses.

Also, produce an inventory of half-yearly or yearly expenses sort of a vacation, athletic facility membership, and so on By the tip of this activity, you ought to have a transparent image of your expected annual expenses, their frequency, and importance.
Once this is often} done, divide the expenses into essential and non-essential categories. whereas essential expenses are going to be those that you just can’t live without, the non-essential expenses can offer you a glimpse into the prices that you can move boost savings and investments.

This can offer you a stable platform to begin your finance journey.
What does one need to attain by Investing?

A clear definition of associate investment arrange is another essential facet of successful investing.

There are 3 pillars for making an economical investment plan:

Financial goals
Investment horizon
Risk tolerance
Let’s say that you just need to shop for a house inside following 5-10 years associated are financed to accumulate a corpus to assist you to get there. this could need certain potential returns and hence, a precise quantity of risk. If you’re not comfy with the risk, then you would possibly have to be compelled to increase the investment amount and cut back the risk. Combined with a transparent understanding of your finances (point#1), produce an investment arrangement that’s designed to help you accomplish your goals with ease.

Different Investment Avenues

There are varied choices on the market to investors today. From stocks to mutual funds, realty to gold, associated commodities to cryptocurrencies, there are numerous avenues available. whereas you would possibly not invest all told of them, it’s vital to know these avenues before you start your investment journey.
We all know several investors who stick with one or 2 investment avenues like stocks and mutual funds and check out to make an investment portfolio mistreatment them to attain their money goals.

whereas it is not impossible, gap yourself up to most of those options offers you additional management over your portfolio and increases your possibilities of reaching your money goals.

Importance of An Emergency Fund

A clever investor understands that complications and emergencies storms unannounced and it is for this reason that you should be equipped to deal with it as and when it arises, how would that be possible if you haven’t even made a provision for it? Create an emergency fund that can be liquidated effortlessly to meet your quickest need that needs an immediate address.

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Pros and cons of robo advisors

Like every financial decision, choosing to use a robo advisor has its benefits and disadvantages. Now the question is, should you use robo advisors? Here are some pros and cons you should consider.

1. A robo advisor provides lower fees
Robo advisors tend to price less than traditional financial advisors. Generally, their services cost only around 30% of that of financial advisors. The flat fees are generally their selling point for most users.

Other than their low annual costs, most robo advisors also allow people to use their services with zero to low minimum balances. This makes them accessible for even beginner investors or those who live with a tight budget!

2. It incorporates risk guidance and management
Over the years, more and more people are looking into investing in exchange-traded funds (ETFs). The popularity of this type of investment product might be attributed to its low costs and risks but promising rewards.

Without requiring a minimum amount for investment, ETFs promote inclusivity among its users. In other words, anyone can invest in ETFs. However, not everyone has the time to strategize their portfolio diversification. And this is where robo-advisors come into play. Robo-advisors create diversified portfolios using low-fee ETFs. The technology automates the best investment strategies for its users.

Using a robo advisor does not remove the uncertainties of making an investment; it allows you to make smarter decisions with your money. So, if you are a busy person who needs financial guidance and yet do not want to spend a lot of time researching and managing your investments, then a robo advisor will definitely help you grow your assets passively.

3. It is accessible and straightforward
A robo advisor is no different than most technology products we’ve embraced so far. As long as you are connected to the internet, you can instantly access its services from anywhere at any time.

If you are well-versed in technology, you will appreciate the convenience of using robo advisors. The software product is straight forward — it allows you to execute your decisions with a few clicks.

4. It is not human
Making financial decisions can be challenging and overwhelming. Without the human face, a robo advisor platform cannot emotionally connect with its clients. It is unable to understand their drivers and fears

Unlike traditional financial advisors who can give you a myriad of tips (i.e., how to save up for real estate, how to secure life insurance), a robo advisor solutions cannot offer words of advice regarding your elaborate goals and needs. While robo advisor companies have customer services to address your complex concerns, some people need a more personal financial advisor whom they can discuss their issues with.

5. It has limited customization options
Robo advisors are relatively new to the market, and their services might not be as varied as you would expect. If you have specific financial goals (i.e., you want to purchase individual stocks, you want to pick a certain mutual fund), robo advisors may be limiting for you.

On the other hand, traditional financial advisors provide a wide range of investment options for their clients. Because they have the edge of knowing you personally, they can create more creative ways to help you craft your most ideal portfolio.

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Looking for Independent House in Bangalore? Check out these House loan tips!

The property price of Bangalore is extremely high therefore buying a house in Bangalore is not everyone’s cup of tea. If you are planning to buy an apartment or independent house in Bangalore then a house loan is a must. Every second person living in an apartment or house is paying EMIs of house loan and it has become common practice while buying a home or apartment. It has several benefits and helps to buy your dream home. In this post, we have discussed some key factors that should be considered before taking a house loan.

Check Various Loan Options- Everything is available online in the era of internet, so do some research and search the different options available in the market. Narrow down your research on three most crucial aspects i.e, down payment, namely, rate of interest, repayment tenure, and EMIs. Researching these aspects would help you to find a suitable home loan. Generally, people do not calculate the rate of interest and end up taking the wrong loan. So, make sure you consider all the aspects while taking the home loan. If you don’t have time to research various loan options then it’s better to consult an expert.
Go with Affordable option-There are several loan options available in the market, so choose one which is affordable and suits your pocket. You should be able to not only afford the fixed monthly EMIs, but should also check the cost of affordable living. It is better to make a rough calculation or plan, this plan will include the EMIs and other monthly expenses like electricity bill, water bill, wifi bill, etc. In many cases, people spend all their money on EMIs and end up with zero savings. So, adopt the loan very cautiously. Buying an independent house in Bangalore at an affordable price should be important.
Select Suitable EMIs option- A bank offers you different EMI options and you have to choose one which suits your budget. EMI varies on the down payment you make at the time of making a house purchase. Short-term EMIs have a low rate of interest and Long-term EMIs have higher. So, it’s up to you which option to choose long-term EMIs or short-term.
CIBIL Score- Banks consider the CIBIL Score or Credit score as an essential factor while giving you a loan. So, check your CIBIL score and make sure it is maintained. The banks do not sanction loans if your CIBIL score is less than 550. So, make sure the CIBIL score is maintained.
Check Eligibility Criteria- Before you apply for a loan check your eligibility, analyse your credit history and essential documents. You can check the eligibility criteria by visiting the website of banks or can visit the nearest branch of your bank.
Hidden Charges- Hidden charges can disrupt your budget so, before applying for the loan check all the additional or hidden charges. Discuss this point with the lender before loan application. There are different types of charges, check whether it is monthly charge or one-time charge. As the name suggests one-time charges are paid once generally at the time of loan sanctioning. Monthly charges are paid monthly and they should be included in your EMIs.
Conclusion-With all the afore-listed points in mind, getting a home loan becomes much easier and you can easily buy an independent house in Bangalore. So, before you buy your dream home consider the above points.

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Consulting Job – Get Hired by a Consulting Firm

What if you discovered how easy it is to get consulting job if you apply the information laid down in this article?

The purpose of this article is to get you started on the right track making easy income without putting in lots of efforts. Make sure you get started today.

Here are 3 simple steps to get you started…

Step 1 – Build your foundation in the consulting industry.

Step 2 – Focus in getting some training using the internet.

Step 3 – Build a strong communication skill.

Here are step by step details that you can apply quickly and easily…

Step 1 – Build your foundation in the consulting industry.

Before you go about getting a consulting job it is important to make sure that you build a strong foundation before you hunt for a company.

This article will give you certain tips that you can use to increase your theoretical knowledge in this consulting field which will increase your value in such companies very tremendously.

Here is the right place where you can get consulting based training…

Step 2 – Focus in getting some training using the internet.

Internet is the best place that you can use to get training on any specific niche that you can imagine.

The best thing you can do is find out the best consultation coach online and hire him to train you one on one. This will increase your value to a tremendous extent because of the knowledge that you will be gaining.

Communication skills are extremely important to get started with a consultation based job…

Step 3 – Build a strong communication skill.

It is important that you develop good communication skills to make sure that you can speak fluently and confidently on the call with your clients. If you use the tips in this article you will easily get recruited in a successful and established company.

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Best Consulting – How to Start One?

What if you discovered how to set up the best consulting program in your niche and make massive loads of easy cash starting today?

Here are 3 simple steps to get you started…

Step 1 – Focus in setting up a consultation focussing a specific niche.

Step 2 – Evaluate the hourly rate of your consultation program.

Step 3 – Consider giving an action plan to your customers and make them accountable.

Here are step by step details that you can apply quickly and easily…

Step 1 – Focus in setting up a consultation focussing a specific niche.

It is extremely important that you get started with a consultation in your niche and focus on a specific niche rather than a general topic.

This is important because if you focus your consultation on a specific niche you will be able to provide them more quality and targeted information which will give them very specific results.

Make sure you know what you are worth and what is the value of your coaching program…

Step 2 – Evaluate the hourly rate of your consultation program.

Once you know the value of your time you can easily price your consultation accordingly. You should know exactly what is the value of your consultation and what results your clients can expect out of the training that they will receive from you.

Accordingly you should try and setup price for your clients.

The action plan that you set up for your clients is the most important thing to get started with…

Step 3 – Consider giving an action plan to your customers and make them accountable.

Provide your clients a daily action plan as to what they need to do to move towards their end goal. To create the best consultation program it is also important that you have a system where you can track their progress and also provide them feedback and e-mail coaching to help them out to get started.

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Benefits of Hiring a Pharmaceutical Consultancy Firm

The pharmaceutical industry is a highly competitive field as new drugs are developed weekly and each company wants to get theirs on the market first. This is one area where a consultant would be able to help your business, but there is more to being a successful pharmaceutical company than simply getting your products on the market. Your brands and products need support from doctors, insurers and community pharmacies to get prescribed at all and this can be hard to achieve. If doctors do not know about your products and you fail to market it to them properly, how will they know to prescribe it? A GP will only prescribe a drug they have been sold on, and pharmaceutical consultants can help you with this.

In fact, pharmaceutical consultancy is designed to advise companies on every aspect of their work, to make them successful and to keep them up to date with regulations and laws governing the pharmaceutical industry. From developing a product to making sure it lasts on the market, consultants will work with you to make sure you are getting the most profit from the money you have spent.

Areas that pharmaceutical consultants specialise in include licensing, brand management, business development, clinical development, medical affairs, sales and trade including product distribution. Whilst you may be experienced with some or none of these areas, the consultants will have specialised in one field and thus will be able to give you the best knowledge in the business. They make it their duty to keep one step ahead of product launches and new regulations so that they can advise their clients the best way to make money whilst staying within the law.

Clinical development is especially important in today’s pharmaceutical industry as resources are remaining stagnant but the size and demands of clinical processes are increasing. To make the most out of what you have got, pharmaceutical consultants will assess your clinical practices and formulate new procedures that are more cost effective and efficient. In all aspects of consultancy, their mission is geared towards making your business and products achieve their full potential.

There is no way that a pharmaceutical company can keep up to date with every new product on the market, the regulations that accompany them, developing their clinical trials, promoting their brand and actually selling products. That is why pharmaceutical consultancy is a good choice to make. Keeping you abreast of developments in the industry and improving your business potential.

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Changes For Success in Consultative Selling in the Veterinary Industry

Who changed the world when we were not looking? What happened to the days when people bought from us because our Brand did the most national advertising? What happened to the days when after we bought a few lunches or maybe one happy hour, we simply got the order?

Let’s just face the unfortunate facts. We have a host of competitors, and the face of the marketplace is changing dramatically on a daily basis. We hear continually about consultative selling, but don’t have time to complete the growing ‘to do’ list for today, let alone study the true meaning of trying to change the way most of us have sold in the past.

The opposite of consultative selling is transactional selling. OK that seems simple enough, a base price (usually a really low price) for a simple good or service, nothing more, nothing less. Consider it a ‘commodity-like’ mentality. If we want simply to buy ten gallons of gas, how important is the relationship, the service, the facility? Do we need a consultant-like partner?

Or perhaps we need a simple item or book from eBay or Amazon, or any other of the hosts of internet suppliers… If we might think that our organization can survive based on price and transactional selling we might also want to begin to get familiar with the internet job boards and dust off the Resume, because if we are transactional salespeople we simply cannot compete with the Internet.

Pricing 24/7, basic product and/or service information at one’s fingertips regardless of time zones, weekends, family responsibilities or personal preference or any of the things that might keep us from being accessible to 100% of our existing clients as well as 100% of any potential clients 24 hours a day, every day.

To survive we need to provide a level of expertise significantly beyond the product or service itself; to grow and succeed we need to be a consultant in everything we do. If you have already realized this epiphany keep reading and the metaphors may bring back happy memories. If we were to conduct a self-evaluation in the following three key areas, how might you stack up? Do you want to play?

Consultants Value Time as Money

Have you ever looked at your time as money? The first part of the analysis has to do with a quick review of your time. How much was used inefficiently? If you were a pure consultant how might you activities of last week changed. And if you are still reading, the next question is potentially even more personal. In the time you spent with Vet Doctors or other clients last week, in person or on the telephone, were it time that clearly 1) Saved them money, 2) Made them money, 3) Increased their potential to be successful? Do you feel the new standards start to tighten?

How would you quantify the value you brought to the table in each of those communications individually? If all this is getting a little heavy for you let’s lighten it up with a metaphor about a ‘friend’ of yours that also sells to this same market. This ‘Friend’ finishes up around 3 pm at an Animal Clinic in a small town, too late in the day travel to go to the next prospect, so ‘Friend’ stops in to see another Vet that he had received an order from last week. Who happens to be only about eight miles away.

Upon entering the office, Friend stumbles on some language such as… “Hi, I was in the area, and I thought I would stop in”…actually more of a social call. Friend simply does not realize the damage he has done. In fact those days are over, and ‘Friend’ missed the train. The message Friend has actually `sent is…”Oh, buy the way obviously my time is not really important, so I thought I might stop by and waste some of your time as well…”

And then ‘Friend’ wonders why he or she cannot get calls returned promptly or even at all.
If you were to help ‘Friend’, how might you revise his/her approach to be a little more consultative in nature, remember we are still not referring to you, or anybody you know. Imagine ‘Friend’ viewing himself as a Consultant rather than a salesperson or in case you are a child of the 80′s a Business Development Specialist. Friend now understands that time is money. Friend now understands that his role is far more than a supplier but an expert in the industry not just limited to his latest brochure.

Friend is prepared for just this type of situation. Friend spends about 2 hours every week reviewing trade journals, and Google searches on the industry and in his specific niche. He has printed and copied two or three articles and placed them in different folders applicable to different kinds of clients. Perhaps ‘Friend’ has stashed an article on internet marketing for a young new office, or perhaps a current review of TPLO for those considering moving into surgery.

Now, back to our scenario. It is 3 pm and Friend finishes at the first client. He calls the client a few miles away and the call goes something like this. ” I realize Dr. Kelly is busy, and I really do not need to see him, his voicemail would be great. Dr. Kelly, this is ‘Friend’. I realize how busy you are and although I am in the area, I do not want to bother you . But, I was doing some research and ran across an article that you may not have seen yet regarding the very thing you were thinking about in your expansion. I made a copy, highlighted the key points, and just wanted you to know I was thinking about your continuing success and wanted to share this information.”

In a re-cap, Friend understands the value of time. Friend understands even if his product might be perceived as a commodity with many competitors, he (Friend) is the difference maker which is not a responsibility to be taken lightly. And finally, Friend has positioned himself as an expert resource. On the next cycle Friend calls for an appointment and Dr. Kelly appreciates that if Friend is in fact scheduling a personal visit, then there must be something to be discussed that will have a good chance of helping his practice grow.
Friend has started the progression from Sales to Consultant.

Of course by now we have realized this metaphor is not really about a salesperson named ‘Friend’, after all who would name anybody ‘Friend’. It is about all of us, and repositioning ourselves as expert consultants. We had to work and study to be successful in the past, and with a minor shift in perspective and attitude I am confident you will be able to take your success to the next level. Enjoy the Journey!

Mike Muetzel is a nationally recognized Author, Keynote Speaker and Leadership expert. His work has been featured in the national media including, The Associated Press, Bloomberg Television, Vet Advantage Magazine, Boardroom Magazine, The Manager’s Intelligence Report, The IBM Small Business Advocate, and The Boston Globe to name a few.

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What to Look For in a Consultant

Here are some things to look for if you genuinely want value from a consultant, all of which you can test in a meeting or single reference.

First is personal credibility. I don’t necessarily mean brand here, which in a way is lent credibility. I mean the credibility of the person or people actually doing the work. To appreciate the importance of this distinction, you just need to look forward in time and ask: “What credibility will that person have in front of the Board or the bank or the MD or my colleagues when they start asking difficult questions?” Of course there are times when a brand does add credence, but I’d argue that what really counts is the quality of the individual making those recommendations, and consequently the recommendations themselves.

Second is subject matter expertise. By this I mean genuine expertise in the particular issue you are facing, be that business case development, due diligence, market entry, benchmarking, whatever. I specifically don’t mean industry expertise, which in my experience contributes either marginally or even negatively in a consultant’s value to a company.

At the risk of unpopularity, using industry expertise as a way of choosing a consultant is, in my view, misconceived. It is an easy way of screening for a buyer, and an easy way of selling for a consultant. Consultancies understand this dynamic and have industry experts at senior level only, in order to help the sales situation. They talk the language, have the examples, etc. But the people that do the work and generate the insights come from a pool of generalists and subject matter experts.

We hear all the time that clients are amazed how quickly we get to understand their industries. But they’re giving us way too much credit and over-estimating the difficulty of understanding a sector sufficiently well to apply our subject matter expertise. In contrast, subject matter expertise is the thing that takes years to develop. To illustrate, we have performed dozens of due diligences of technology companies, and we use exactly the same skills to due diligence leisure companies. Each one, in whatever sector, takes only three weeks, and we have never had any problems in sectors we have never worked in before. But we would have no idea where to start re-engineering a business process, a subject in which we have no expertise, one of the exact same tech companies we just diligenced. And we couldn’t even dream of knowing how to sell a client’s products.

A third thing to look for in a consultant is his willingness and ability to challenge you, your views and your assumptions. It is easy for an adviser to back down, particularly someone who’s junior, impressionable, easily intimidated or otherwise anxious to please. I’m embarrassed for my profession that 90% of consultants I’ve met fit into one of those categories, people responsible for the tedious cliché of the consultant taking your watch to tell you the time.

The Greeks had a concept of a noble friend, who would tell you the truth, even if it wasn’t what you wanted to hear. A good consultant is a noble friend for hire.

A fourth thing to look for is absolute attention to your particular concern. The consultant will be so focused on your particular issue that you won’t be able to see any approach or methodology he employs. Every conversation will all be about your situation and helping you improve your own condition.

There are some good precedents for these characteristics in an adviser. William Wilberforce, in my opinion one of the greatest men who ever lived, had for an adviser the great John Newton (pictured above), composer of Amazing Grace. Alexander the Great had Aristotle. Washington had Lafayette. I guess they didn’t do too badly.

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Core Consulting Skills – The Biggest Consulting Mistake

A core consulting skill is the ability to present data and analysis. But though many technically skilled consultants do an excellent job in number crunching phase, they fall flat when they present their data. The problem is a lack of knowledge about how to structure presentations that include data and analysis. And with a simple formula it’s easy to rectify.

Over the past 10 years that I have owned and run a small consulting firm I have coached and mentored many consultants. To a person they were desperate to learn the secrets of how to analyse a company, how to get to the big issues, or how to turn around an ailing business. But when it came to presenting their data they always said the same thing “if my analysis and findings are good” then the data will present itself; wrong!

I have cringed through many a presentation where the analysis and data gathering were fantastic, but when the consultant got up on their feet to present it, they simply withered and died; and typically the client looked bored. In every single case the problem was the same: a lack of knowledge about how to structure their data so that it told a logical story and only the pertinent points were used.

For example let’s say that over a four week analysis of a business you may gather two or three hundred pieces of data. Wouldn’t you agree that to try and present all of that information to a senior management team will not only confuse them but is unlikely to help them make decisions? I think so, but that’s what happens.

So if you want to avoid death by data what can you do to help your audience to get your message, and also help you keep and grow the client?

1. Build a mega-structure for your data. Choose three main questions that you will use to categorise your data i.e. “What’s going wrong in the business, why is it happening, and how can we fix it?”

2. Take each question and answer it with two to three main points, e.g. “what’s going wrong?”

a. “Customers are complaining”
b. “There is low staff morale”
c. “You are losing money.”

3. Take each point and find the best piece of data to support your argument. Force yourself to only use one (maximum two) bits of evidence.

Finally, do your planning on paper or a large whiteboard, leave building the PowerPoint slides until the very end; if you do you’ll leave your client impressed rather than depressed.

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Avoid Higher Computer Consultant Costs by Using 11 Point Checklist

How well your computer consultant understands your business computer requirements determine your total computer consulting costs by minimizing midstream changes, corrections and additions. Things not fully clarified can get altered or totally omitted, requiring more costly labor to correct or redesign.

Don’t leave it to chance. Here is a checklist that covers the key areas to clarify for yourself and your computer consultant before discussion starts:

A list of the things you need to keep track of in your database and how they relate to each other is a good start but here is a more complete list to make sure nothing is falls between the cracks between you and your computer consultant.

1. What are your major categories of data and what specific data is stored under each category. Listing out your various business processes, and the steps required to accomplish them will help answer this.

2. How will want to filter your data to get a just what you need for a report or a screen view.

3. Any examples of reports or other output you may need or are currently using. (Microsoft Word can be used to illustrate a report design.)

4. Define what data validation or business rules are needed during data entry.

5. Any special requirements involving linking to or importing data from data sources outside of your business software.

6. Any financial accounting requirements or other legal / liability issues requiring additional data storage and output.

7. What kind of hardware system exists and is anyone supporting this.

8. Will data access require any remote access permissions?

9. The level of security access required for various areas of data viewing and editing among the individuals given permissions.

10. Current data entry media and formats currently being used if any exist.

11. Any data migration requirements from existing data sources, such as available formats form these sources

I can tell you that a consultant’s time might not always be billable on that first consultation, but he or she will appreciate the business owner who is prepared and can answer these basic questions.

I have found that it’s rare that a business owner is sufficiently prepared to start a discussion in this area unless these points have been thought out.

If you have had any experiences with computer business consultants that went sour or did not meet expectations, your comments and lessons learned are welcome. We all need to learn more about this vital area and that includes me.

Bob Heifler

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