Category: How-To Guides

Any savvy real estate investor will tell you that commercial property can turn out be a lucrative investment, provided you take the time to learn the ropes and work out the best way to get into it.

That’s why it is worthwhile to take a class from someone like Than Merrill who knows what they are doing. However, be sure to look at the Than Merrill real estate reviews, or the feedback from people who have taken any class you may be signing up for, to make sure they are legitimate.

Here is a step-by-step mini guide that covers the key points you need to consider if you want to grab a piece of the commercial property action.

Plenty of questions

If you are considering investing in commercial property, there should be plenty of questions that you will have and need to ask yourself before committing yourself to a deal.

Getting to know some people like JGM Properties commercial real estate, will help you to keep your finger on the pulse and know what is available and what is in the pipeline. You also need to clarify what sort of commercial property you are actually interested in, as well as deciding what you want to do with it after you have acquired the building.

Commercial property comes in many different forms and sizes, you may decide that you are interested in industrial units, office developments or retail space.

You might also want to acquire a commercial property simply to generate some rental income and capital growth, or it could be that you have some ideas to redevelop a site and build something else in order to generate a profit that way.

Make a long checklist of requirements and answers to some salient questions, so that when you start your search, you know exactly what you are looking for.

Get to grips with the language

Commercial real estate investment comes with its own set of terms and a language that you may as yet be unfamiliar with.

Getting to grips with the vocabulary used as well as the acronyms employed on a regular basis, will help you to understand what some people are specifically saying to you without the need for further clarification, and it can also help you feel more at home in the environment.

Knowing what a Loan-to-Value (LTV) ratio is or what the DSC means, will be a worthwhile education in your commercial investment career.

LTV is simply the figure that represents the amount of money you are asking from a lender or they are prepared to lend to you, in relation to the overall value of the property.

DSC refers to the debt service coverage ratio. This is a calculation to demonstrate how much of the debt you will be able to cover annually based on the income you are going to receive from the property.

It is also well worth understanding other terms such as Ad Valorem, which is a tax that is based on the assessed value of the property in question.

Let your risk profile define your investing strategy

If you are considering investing in commercial property, you already have a certain level of risk tolerance, but it is important to be honest with yourself and define the level of risk that you are prepared to tolerate.

Not only does it help to define what your level of risk tolerance is, but getting the answer to this question will help you to create an investment strategy that is in line with this profile.

For example, if you are a bit of a maverick risk-taker, you may well consider some investment opportunities where the rewards are high, but the risks are greater. If you are particularly keen to try to protect your capital as best as possible, you might be looking at investing in a property where there is a long-term quality tenant in place and regular income is the name of the game.

No room for emotions

Commercial property investing is primarily about displaying a good level of patience and keeping your emotions in check.

Homeowners can become blinded by their infatuation for a certain house that they decide they must try and buy at all costs, sometimes living to regret that rush of blood at a later date.

With commercial property, you will not be living there and you need to always a adopt a businesslike attitude to each proposition. You are not trying to fall in love with a property, you simply want to know if you can get involved at the right price, it fits your investment goals, and the numbers work.

There is often no room for emotions when it comes to investing in commercial property. Get that right, along with the other fundamentals, and you should improve your odds of success.

Eli Russell is the leasing and marketing director at JGM Properties. He’s been with JGM for 14 years, and is one of the top leasing agents in Minnesota when it comes to volume of leases signed for office, warehouse, and retail space for rent or lease in Minnesota.

Office morale is a term that has been bandied about of late. So what does it really mean? Basically it refers to the state of energy and excitement generated in the work environment.  We all know that the more pleasure we feel in coming to the office each day, the more prolific we will be. But all things being equal, unless morale building is actively pursued, the hours spent at our desks become boring and uneventful and eventually we start staring at the computer screen bleary eyed. Satisfaction starts to drop, motivation wanes and productivity begins to spiral downward.

There are several indications that office morale is worming its way among the staff. These include fewer interactions and reduced cooperation among the team members, fewer employee initiatives and negative attitudes towards management or fellow workers. A high rate of turnover is certainly another warning of office dissatisfaction.

Preventing low morale from taking over is crucial and it is wise to nip the problem in the bud. Thisreally isn’t very difficult to deal with and it is mostly up to the owner of the company or the office manager to take responsibility for putting creative ideas into action.

Appreciation and Recognition

The most obviousmethod of boosting office morale is to show employee appreciation for a job well down.  Whether it is an individual worker or a group of workers, warm congratulations and public recognition can go a long way in elevating team motivation. A warm ‘thank you’ is always valued.

Equally important is for you to actually “hear” what each team member has to say. Employee engagement is often ignored but knowing that their voices are heard can keep workers from becoming disgruntled and dissatisfied. While you’re at it, how about a weekly ‘huddle’ or ‘mash up’ where workers can say what’s on their mind without feeling that their jobs are on the line?

Fun and A Break in Routine

Since morale is the first thing to go when the hours spent in the office on a daily basis become boring and routine, introducing different ways to change things around can provide a break in the monotony of the work environment. Subtle changes such as a switch in lunch hour, a new painting on the wall or even a Monday morning come-in-late schedule will wake up even the sleepiest worker.

Injecting a little bit of fun into the day also works to break up office routine and keeps workers happy. You may not have a spare room that can accommodate a dart board or a ping pong table but that shouldn’t stop you from bringing in a yoga instructor for an hour of mental relaxation or even a massage therapist who can knead out those stiff shoulder muscles.

These few minutes of ‘free time’ can improve productivity for hours and are well worth the cost in terms of a lost work minutes.

Friendly Competition

A bit of friendly competition among workers is another way to boost morale. Dividing up the workers into teams to work on a particular project and offering a generous prize to the winners can certainly instill a sense of office spirit and motivation into the work atmosphere

Japanese Inemuri

How about allowing for a short nap after lunch? In Japan, it has become culturally accepted for all workers to put their heads down on their desks for a 15 minute break (inemuri).  These 40 winks are considered rejuvenating and often very necessary in order to maintain a high level of office productivity.

At the end of the day, if you want your workers to have a positive attitude, you must have one yourself. Negativity is contagious and the team takes its cues from you.  Reduce the complaints and use a low-key, accepting outlook and your group will follow suit. Oh, and of course—keep smiling.

 

Article contributed by Charles Dearing

In recent times, the influence of the minority groups on the economic markets has been on an upward trajectory. And as expected, many businesses are starting to take notice. According to a study by the Selig Center for Economic Growth at the University of Georgia, the minority groups’ share of $10 trillion U.S. consumer market is growing steadily.

To break into this lucrative market, you will need to understand the needs of your target audience. Make sure that you capture this trending audience by following these tips.

 

• Define a market that suits your product

 

Many businesses make the mistake of venturing into a minority market from the simple fact that it exists. Before stepping in, make sure the minorities fit the profile that defines your best customers.

 

• Build relationships and trust.

 

In any form of business, connection with a client is what leads to repeat business.  This is a struggle for any business but it’s even more of a challenge cross-culturally. But is it achievable? Absolutely. All you have to do is factor in the preferences of the target market and you will have yourself a tremendous asset.

 

• Market directly to the target market

 

It is paramount to ensure that your team has sufficient knowledge on the expectations, experiences, and values of customers in each and every minority market you tap into. Clients are more likely to associate with companies that are willing to go an extra mile for their community. Face-to-face networking and ethnic level efforts along with publications in local and regional newspapers will help get your brand to your potential customers.

 

• Aim to make customers comfortable

 

When marketing to the non-English speaking consumer, the native language should be factored. This is not only in the preparation of an advert but also in the creation of brochures and newsletters. That said, it is advisable that you hire people who have a near-native understanding of both English and the native language. Most of the minority population are conversant in either English, French or Spanish. In a French speaking market, for example, recruiting  bilingual/multilingual employees will save you extra translation costs while increasing your relevance in the market.

 

• Connect with local businesses or professional organizations.

 

Prioritize networking or partnering with individuals, vendors, and retailer who share your business ethos and vision. But more than that, it is a great advantage if they a relevant in/with the target market. With a partner who knows the lifestyle and purchasing trends of a specific minority market, it will be easier to enter and exert your influence in the market.

 

• In person marketing

 

Being rooted in the ground will allow you to initiate, plan and supervise programs and campaigns efficiently. And to achieve this, you will need to invest and interact socially with customers and their communities.

 

• Hiring ethnic staff

 

Although training staff particularly front-line staff about the cultural background of the community increases the ability of staff to sufficiently respond and interact with minority customers, getting in more ethnic staff members will make your company better placed to know and address any major concerns. This will also further serve as a marketing tool. Word-of-mouth recommendations are often how minorities especially those with limited English proficiency decide where to obtain services and as such hiring members of the community will help rank your products and services higher.

 

• Community outreach

 

Providing support to the local community on entry to the market will help foster the profile of your organization. This can be, for instance, through collaborating with community organizations to deliver educational programs and neighborhood development. Again, taking part in events such as festivals and supporting substantive to longer-term initiatives signifies lasting commitment to the community.

The minority market around the globe is increasing becoming hard to ignore as a source of retail growth. And with the market on expected to improve economically in the coming years, implementing these strategies will help you draw in new customers and increase your revenue base.

Article Contributed by Megha Parikh

Is your ecommerce store not getting the expected traction?

Is your conversion rate very low?

Are the visitors of your site not exactly the target you had in mind?

If you answered yes to any of the above questions, then most likely you have either:

• Just launched your new ecommerce website or
• You haven’t exactly been making the right moves in terms of marketing your new site since its launch

Either way, we are here to help you.

Whether it is to get more traction to your site or to increase your conversion rate, the ultimate challenge lies in getting more customers to trust you. And all efforts should be made towards this one goal.

Why Customers Have Trust Issues –

Now considering how you have just started out on your ecommerce website, it might be fairly difficult for you to earn the trust of customers who are not really interacting with you in any way. Because let’s face it, the truth is that no one would actually want to purchase anything or give their credit card information to a company that they are not familiar with.

On top of that there is the growing prevalence of phishing attacks, malicious software and other kinds of cyber-crime that makes people fear unfamiliar sites. Sometimes it can be just the fear of bad customer service that makes people shy away from online shopping.

While we are on the subject of earning trust, it would be worthwhile to address another major problem that you may face as the owner of an ecommerce site; shopping cart abandonment. It basically refers to the habit of adding products to the shopping cart and then abandoning it when it comes to the payment page. This could be a more serious problem as it means that your website is getting the attention you need, but does not generate the much needed trust in your customers. This could either be because your payment page does not seem safe and secure enough to your customers or because you ask for a little too much information from them. It could also be because your shipping and handling charges are a little too high.

According to several studies, high shipping and handling costs have always been the number one reason for shopping cart abandonment, while fear too is not far behind.

With all these problems, it might seem like a herculean task to get your customers to trust you. But trust me when I say, it is only a matter of a few simple right moves.

Let’s get into that now.

Moves To Get Your Customers To Trust You –

Look at it this way: right from the launch of your new ecommerce website, every single contact a visitor or a potential customer has with your site is a great opportunity for you to build trust in them.

So the first point will be when they first hear about your website or see your advertisement. What can you do?

1. Have a well thought out and designed ad –

That’s right. You ad has the potential to create a lasting first impression if it has the right information. Here are some things that you need to include in your ad to make it effective:

• Have a simple domain name
• List out all your phone number so that your customers can reach you
• Mention the customer service hours
• If you are a verified and approves reseller of any particular brand, do include that
• Use a commonly used and trusted payment partner and mention it
• Have a credible publication quote you and mention it in your ad (this might need you to shell out some money)
• If you have been ranked by any recognized ecommerce rating service  like Stella Service for instance, mention that as well

The second point is when the customer visits your site, having seen your ad, and browses through. What can you do here?

2. Add a human element to your site –

By this I mean, putting a face on your site and giving them a solid idea of who you are, through an “About Us” page so that they know you are real and legit. You can put your CEO’s picture and go on to describe in the simplest way what your company is made of. And while you do that, make it relatable to the customers so that they feel you get them. You can even include a “Meet Our Team” page with pictures and short bios with names of your staff.

Add professionalism – While keeping the content of your site easy to understand and relatable, it is also important to maintain professionalism. You need to include all the regular things that make people feel they can trust you. Just like an “About Us” page, you also need to have a few necessary elements on your website such as:

• A contact page with your headquarters address, your phone numbers, your email address etc.
• Reviews of products in your store by customers
• Customer testimonials with their pictures and tweets if possible to show that other people trust you.

 

• Marketing specialist Dan Kennedy of GKIC says, “What others say about you and your product, service or business is at least 1000 times more convincing that what you say, even if you are 2000 times more eloquent”.

 

The third customer point is when they put items in to the shopping cart and proceed with purchasing them. What can you do here?

3. Show them that your website is secure –

This is the most important part of an ecommerce website and this is where you need to invest in some good website developers.

You need to secure your site with an SSL Certificate (Secure Sockets Layer certificate). Having SSL security is the one this that is going to help you reduce or even eliminate shopping cart abandonment.

Online businesses demand user’s trust and protection for their website, EV SSL Certificate is an ideal solution in both conditions. Customers have this habit of trusting websites which are secured with HTTP encryption.

What this means is that the data that customers enter in to your site while making payments, gets encrypted and will not be readable by any other networks between you and your server. This reduces the chances of phishing scams and identity theft. Get a high end SSL Security certificate such as Geo Trust SSL security so that it covers all aspects of security and show it your customers. You will have a green address bar and you can also mention is in your payments page.

So that is how you can build trust in your customers, right from when they first see your website. Be sure to follow these moves and you will be well on your way to getting high conversion rates in no time.

Have you ever considered trading forex online? Have you thought about signing up with XTrade Europe? If so, then you are probably aware of all of the complexities and intricacies associated with the industry. It is not easy to become a successful trader that knows how to capitalize on currency changes and consistently make a profit.

But the good news is that it is possible to learn. Think about it: no one was born a forex trading expert. Every successful trader had to go through a learning process where they were educated on the industry, on the markets, and how to properly trade. You can also go through this process and turn yourself into a profit-making trader in no time.

Guidelines for Trading Forex on XTrade Europe

There are some basics that you need to understand before jumping into the forex world with XTrade Europe. First, you need to take the time to familiarize yourself with the language used in the financial markets. There are some terms that are less than straightforward and may confuse you if you don’t take the time to learn them.

Furthermore, you need to get an understanding of how online currency trading works. While we won’t detail it in this post, there are tons of resources online. You need to research exactly how forex markets work, how they are traded, and how they move up and down. Similarly, you need to begin to follow world events. It shouldn’t come as a surprise that current events easily influence the values of currencies on the forex markets. That’s why following world events will help you make sense of currency movements and even trade on them.

Lastly, you need to learn about currency pairs and how they work. You should learn about which currency pairs are recommended to trade on, which to avoid, and how to exploit the changes in these currency pairs. This is easier said than done, but if you are able to accomplish this then you have cracked the code to successful forex trading.

Using Broker Resources to Learn

If you are looking for places to educate yourself on the forex industry, don’t look farther than the brokers themselves. There are a number of resources provided by brokers to help novice traders get their bearings.

For example, XTrade Europe runs an academy where there is all sort of information to help traders get started and educate themselves on the industry. There are guides and tutorials to trading and tips and tricks to help you make the most out of your investments in the forex markets. The academy even allows you to perform some simulations before trading with your own money.

Overall, if you are considering entering into the forex industry with XTrade Europe, or any other broker for that matter, then be sure to take the time to learn all there is to know before trading. You don’t want to be in a position where you lost your initial investment because you didn’t fully educate yourself on the markets.