Common Financial Mistakes that Startups Should Avoid

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Starting up a new business is exciting for entrepreneurs, as they look forward to turning brilliant ideas into reality. However, most business startups fail, no matter how great the concept is due to poor financial decisions.

Success means merging a strong brand with smart business practices as well as implementing the power of knowledge with good financial judgement and proper preparation.

As an entrepreneur, you can make several financial mistakes in the early stages of your business. But with enough knowledge on potential financial disasters, you can take simple measures to avoid them. Here are some of the most common financial mistakes startups make.

Miscalculating Cash Burn

A company’s burn rate is the amount of capital it go through every month to keep the business running. If you don’t have a good comprehension of your burn rate, you significantly curb your company’s ability to reach milestones before money runs out.

According to some latest surveys of new business owners, nearly one third admitted to understanding monthly expenses, while almost 20 percent of emerging business owners realized that they didn’t have enough funds. It is easy to make a mistake in calculating your  operational expensed, which leads to your initial financial expectations being off. Keeping a record of your startup costs can help.

You can manage your cash flow by creating a bottom-up forecast, using real-world variables. Top-down forecasting tends to lead entrepreneurs to be extremely optimistic about the sales and revenue that they will generate, while a bottom-up projection provides you with a more realistic measure of how much cash you will need operate and maintain your business.

Not Understanding Your Target Market

Market research must be a vital part of any long-term business as it gives you a view of your real business goals. You will be able to determine how much demand is present for your products or service, and have a definite idea about the standard prices in your market.

Moreover, you can gather unique vision about your target audience and your rivals. Without a proper understanding of the market that you intend to penetrate, you will probably make poor business plans.

Insufficient Startup Capital

Numerous startup owners start with too little capital and they expect that their initial profits will come quickly and underestimate the operational expenses that they must endure in the meantime.

It is significant to be positive, but entering a venture without enough funds to cover the planned startup expenses is very risky. Making this mistake can crash your business.

Your financial decisions can determine your startup’s future, therefore, you have to be very careful in making these choices. Let our team of experienced professionals help you boost your business output, visit Exo Management, LLC.

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The Comprehensive Starter Guide to SEO

Search Engine Optimization is a field of website development that aims to improve the way content is ranked by search engines such as Google, Bing, and Yahoo in organic search results. Numerous approaches are applied to reach that target.

Most Internet users usually don’t click through several pages of search results. Therefore, a site’s rank in search engines is important for directing more traffic toward the site. The higher a website naturally stands in organic results of a search, the greater the possibility that the site will be accessed by users.

SEO helps ensure that your company’s website is accessible to a search engine and increases the potential of the site to be found by the search engine.

Before initiating an SEO program, you should read through the webmaster protocols that each search engines provide and follow suggested best practices. Failure to follow recommendation could lead to the site being poorly indexed. In worst case scenarios, your website could be ultimately blacklisted from the search engine.

SEO Techniques and Methods

You will be able to determine significant increase in traffic and in your conversion rate once you learn and meet the needs of your target market.

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After your website started to rank highly in Google search, you’ll observe increased revenue, as you get more clicks. Here are some useful SEO techniques that you can implement to boost your visitors, search traffic, and conversion rate.

Identify Target Keywords

It is important to determine potential SEO keywords to target within the organic search results, and then improve the site accordingly. This list should consist of keyword phrases that your audience are are actually searching and that aren’t too aggressive to rank for your website.

Afterwards, these keywords should be added to your site in significant areas, such as page titles, heading tags, and body content.

Focus on Branding

More than SEO keywords, it is also important that you start the branding process in the early stage. Considering that the search engine must depend on measurable standards in order to analyze website quality for display in the organic search results, branded features remain one decisive guide that can be utilized to determine viewer valuation.

To start getting these perks for your website, decide carefully on your company’s logo, color scheme, tagline, and promotional statements. Implement these elements regularly across your web existence. You can also choose to work with professionals such as graphic designers or marketing consultants if you are not confident in coming up with a solid brand on your own.

Work on Content Creation

There are two reasons why managing a company blog on which you publish updates, news and brand promotions is a crucial part of SEO.

First, consistently posting content on your website increases the number of different keywords existing on the site. Boosting keyword exposure will help you gain free SEO traffic.

Second, loading your website with relevant content is a great way to develop the relationships you share with your target audience.

Maximize the Use of Social Networks

Major search engines acknowledged that social signals – including link shares and brand mentions on social network status updates – are currently contributing in organic SERPs rankings. This suggests that keeping a presence on these sites is significantly important for your company’s SEO program.

Invest in Link Building Campaigns

Another SEO goal to focus on is link building, which refers to the process of getting other sites to drive links to your content.

The total, quality and relevance of the links pointing at your company’s website are all considered quality signals in the search engine ranking algorithms.

Increase your company’s performance with Exo Management, LLC. Let our team of professionals guide you in taking your business to the next level. Visit our website to learn more about SEO.

Improve Your Business Output by Utilizing VoIP

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Voice over Internet Protocol (VoIP) has been a huge player in the wider telecoms market. It is a procedure and collection of technologies for the delivery of voice communications as well as multimedia sessions over Internet Protocol networks.

The pervasive nature of strong, high-speed internet connections suggests that the small packets of data delivered across the network and revamped at the receiving end in a VoIP system result in voice quality that is as good as with traditional telephone lines.

Some businesses use Voice over Internet Protocol in addition to their traditional phone service, since VoIP service providers usually offer lower rates compared to traditional phone companies.

Various VoIP Services

There are different services provided by a VoIP service, ranging PC to PC, PC to Telephone Network, Telephone Network to Telephone Network, and Phone to Telephone Network. Due to the fact that the cost of making calls through VoIP is less than using a landline, the commercial demand from businesses working on an international scale increased.

Companies that aim to set up a virtually free to use employee-to-employee communication system can benefit from these services, as calls between VoIP users are often free of charge. Meanwhile, the biggest advantage that VoIP has over traditional telephone services is that it also offers video calls.

How VoIP Works

Voice over Internet Protocol services convert voice into a digital signal that transmits over the internet. On the other hand, if the user is calling a regular phone number, the signal is transformed to a regular telephone signal before it reaches the receiver.

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VoIP enables users to make a call directly from a computer, a special VoIP phone, as well as a traditional phone connected to a special adapter. Moreover, wireless hotspots in places such as airports, parks, and cafes allow users to connect to the internet.

Advantages of VoIP for Business

Business VoIP systems have countless benefits for companies. Taking advantage of the internet for voice calls is basically more cost-efficient and makes management of phone system easier, in addition to offering significant features for users.

Flexibility/Portability

IP Phones are easy to install and requires little technical knowledge. Instead of hiring someone to set up phone wiring through your facility, you can arrange an IP phone and be ready to operate.

Hosted VoIP software makes it easy and economical to add new users, and a suitable web portal makes it easy to modify the system’s configuration. No VoIP hardware is needed, all you need are IP phones.

Furthermore, the convenience and comfort offered by a VoIP telephone system is accessible all over the world.

Cost Effective

The price for using a VoIP telephone is much cheaper compared to using a conventional phone. Making long distance phone calls will also cost less when using a VoIP service provider.

Multi-Functional

Other than making free phone calls, you can also conduct video conferencing through your VoIP phone. This enables you to keep in touch with your colleagues and clients to discuss important deals, affairs, gatherings, documents and plans.

Even while you are away, you still have the ability to attend to other urgent meetings in your home office without being physically present.

Take advantage of the unparalleled services offered by Exo Management, LLC.  Check out our website and learn more ways of improving your business.

Why Should You Consider Business Process Outsourcing

Outsourcing­­­ is the process of entrusting a company’s business process to self-employed freelancers and external agencies, with the goal of minimizing the labor cost and improving the quality of the company’s products and services.

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When you first start a business, you might find it impractical to outsource your business processes to external service suppliers, as it might appear more costly to your business. But as your company and revenue grows, sooner or later you will see that it’s neither sensible nor desirable to handle all the hard work by yourself.

By considering business process outsourcing as a part of your business plan, you can potentially gain a significant advantage for your company. Benefits such as lower expenses, increased revenues and faster and higher quality of work can be realized by choosing the right freelancers and third party service providers.

When managing any business, you may find that some responsibilities take more time than what you actually have, or you will realize that specialization is required in the areas that you lack. That makes outsourcing a great choice and solution to your issues, providing a quick fix to your company’s faults and shortcomings.

“Most entrepreneurs have great talents but many times they think they can do it all,” said Laura Lee Sparks, the owner of Legal Marketing Maven.

Most business owners have long considered business process outsourcing as a strategy only ideal to large scale companies, but ever-growing technology has made it possible to be more accessible for small businesses. And for some small companies, outsourcing has made a great impact on their growth, efficiency and net earnings.

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“More small businesses are outsourcing tasks these days because technology has advanced to the point of professionals being able to work from anywhere in the world, coupled with the availability and accessibility of extremely qualified professionals who have decided or been forced to leave the corporate world, such as virtual executive assistants, marketing directors, graphic designers, transcriptionists, paralegals, web designers, HR consultants, bookkeepers, PR directors, IT specialists, and the list goes on,” says Spark. “These freelancers come on board as subcontractors and save the small business owner the burden of paying overhead associated with payroll taxes and expenses such as health insurance and worker’s compensation, as well as the space constrictions that growing a company in-house can present.”

Outsourcing can help a great deal especially if your business involves highly-repetitive tasks. By delegating these mundane and time-consuming tasks to outsourced employees, your company will be able to focus on their core business processes, allowing you to concentrate on what brings profit to the company.

Saving money is always appealing. But what makes business process outsourcing even more attractive is its ability to enhance the quality and efficiency of your products and services.

Before collaborating with any third party service providers, see to it that they use best-in-class technology. Aside from that, ensure that you only outsource those who compliments your skill set and is passionate in helping your business thrive.

With Exo Management LLC’s flawless and revolutionary technology, professional business solutions and state-of-the-art processes, we ensure that our services and operations are catered according to every client’s demands and needs, for them to achieve both satisfaction and excellence! Visit our website and let us help your business reach its highest potential!