What is Cyber Monday

About a decade ago, e-commerce businesses began noticing that sales increased on the Monday after Thanksgiving, when most Americans were back to work after the long weekend agen poker resmi. A marketing team at Shop.org, a branch of the National Retail Federation, officially coined the term “Cyber Monday” in 2005; by 2010, it had become the biggest online shopping day of the year.

Cyber Monday falls on Nov. 30 this year. Retailers that sell exclusively online love to run sales on Cyber Monday, but those that have brick-and-mortar as well as e-commerce operations can also take advantage of this shopping day. To take advantage of Cyber Monday, you need to make sure your online store is equipped to handle demand in online shopping from mobile devices. Otherwise, your business could miss out on some big holiday shopping sales growth. Contact a web developer right away to get your online store ready. [Do you need to set up or revamp your online store? Start your search for a solution with our guide to the best e-commerce and shopping cart software.]

Also, focus on unique promotions only you can offer customers. For instance, you could give customers 50% off their first month of a specific product or service you offer, or perhaps 40% off anything in your store with a discount code. These types of promotion tend to entice shoppers.

Key takeaway: This year’s Cyber Monday is the perfect opportunity to meet your customers where they are. To take advantage, offer enticing promotions and make sure your website is mobile-friendly.

Why You Should Consider Working with a Mentor

A mentor can be a very valuable asset, especially for young, aspiring entrepreneurs, and those new to the world of business Situs Nonton Movie Sub Indo. There are several benefits to working with a mentor.

It offers you a new perspective from a seasoned professional. Finding the right mentor is not a secret to success – it’s as obvious as it is essential. Learning from someone older, wiser and more experienced is an invaluable business opportunity, whether you’ve just started your first job or you’re halfway through your career. As we slip into the day-to-day routine of working life, it’s easy to get lost in the moment – our problems are six inches from our face, and a mentor can be the person to reset things so we can look at our careers and growth from a new perspective.

Ryan Holiday, an author and career expert, said finding a mentor starts with working hard and developing a personal reputation of success. By focusing on your own role and career, you can set yourself up to connect with more seasoned business professionals who will see your talent and want to help you grow.

Cashflow Mistakes That Can Kill Your Business

Small business owners are often overloaded with tons of activities revolving around their situs slot online business, and they have very little time left for managing cash flows or scratching their heads on company’s finances. On the other hand, mismanaging your company’s funds might lead to total failure of your business.

Even though you have the brightest of ideas and your company is on the growth ride from the very first day, it is often seen that 80% of the businesses, big or small, fail or close down, just because they cannot manage their cash flows.

To add to the injury, certain hidden costs or expenses have an adverse impact on the cash flows, which are very tough to manage since they cannot be perceived.

In this article, we run through some of the deadly cashflow mistakes that can really hurt your business. Find out if you are making one of these mistakes and learn how to avoid these.

1) Forced Growth

One of my friends who runs a software development company started experimenting with Facebook ADs. In first month itself, he got good returns on his investment. He immediately increased his AD spend by 5 times anticipating 5x growth in sales.

Well, that didn’t happen. He did generate more leads but not in proportion to the AD spend. He spent more than he earned in that month and ended up screwing his cashflow. He had to take short term loan to cover up the month’s expenses.

It is a good thing for a company to have a great growth story, but sometimes to have excessive forced growth can spell doom for the business.

What’s forced growth? It would call for more cash to be paid to the staff, bigger office for accommodating more people and clients, a rollout of new products, higher than needed AD spend, etc. that would call for greater expenses.

These are effort-oriented tasks that need to be handled rapidly as loss of too much cash will severely affect your day-to-day operations. These extended services bring in more revenues, but with revenue comes in more cash outflows. Efficiently estimating these cash outages in due course of time can help you prepare for exigencies.

2) Spending Too Much on Sales

As a small business, it is impervious to fetch new customers, even at the cost of incurring losses. There are two metrics to identify whether your client is bringing you the profit that you anticipated. One of them is the ‘Acquisition Cost’ of the customer, which is the amount spent on gaining one customer.

The other is the ‘Lifetime Value’ of the customer, which is the total revenue generated by a customer over its lifespan. It has to be ensured that the Lifetime value must be greater than the acquisition cost. In this way, a positive effect is felt on the cash flows of the company.

Overspending on the acquisition cost might lead to gaining a small customer with a very limited return. Many businesses falter on this point as they perceive that more the customers, more the profit.

There are lot of hidden elements to the acquisition cost. For example, salary of the sales person, amount spent on his mobile and internet connection, cost of his seat in the office, his commissions, etc. You need to add up all these indirect costs to correctly calculate customer acquisition cost.

If you don’t do this, you’ll unknowingly start burning more money than you earn and eventually affect your cashflow.

3) Incorrect Calculation Of Profitability

One of our ProfitBooks customers sells mobile accessories on ecommerce marketplaces. He buys the stuff at 40% margin from his sources. For example, he buys a headphone at Rs. 600 and sells it at Rs. 1,000. He used to always believe that he was making 30-40% on every sales considering minor expenses.

But when he prepared his balance sheet at the end of an year, he realised that he made losses. He did not consider the marketplace commission, transaction fee, shipping cost (which varied for every order), cost of storing the inventory and most importantly – cost of returns.

Many-a-times, businesses feel that there is enough profit from every transaction they enter into. However, businesses of all sizes run into severe cash problems because they have committed too much on overheads.

Taylor Swift to release second album for 2020, Evermore, as a ‘sister’ record to top-selling Folklore

Taylor Swift fans are getting a double judi online reason to celebrate this year — the singer-songwriter is about to release her second album in 2020.

“To put it plainly, we just couldn’t stop writing songs,” Swift told her 141 million followers on Instagram.

“I’ve never done this before. In the past, I’ve always treated albums as one-off eras and moved onto planning the next one after an album was released.”

Swift said the new album is called Evermore, which she described as a “sister” album to her latest release, Folklore, which was produced entirely during the coronavirus lockdowns and released unexpectedly in July.

A video for a new song, Willow, will arrive along with the album, to be released on Friday afternoon (Australian time).

Swift revealed the tracklist for the 15-song new album and noted that some of the guests are Haim, The National and Bon Iver.

She turns 31 on Sunday.

Folklore, released this winter, enjoyed three separate visits to number one on the Billboard 200 chart and became the first album to sell a million copies in the US in 2020.

On Instagram, Swift said working on Folklore was different than her previous albums and she just kept writing songs.

“I felt less like I was departing and more like I was returning. I loved the escapism I found in these imaginary/not imaginary tales,” she wrote.

“I loved the ways you welcomed the dreamscapes and tragedies and epic tales of love lost and found into your lives. So I just kept writing them.”

The mysterious William Bowery, who Swift last month revealed was a pseudonym for her British actor boyfriend Joe Alwyn, is also credited as a co-writer on the new album.