Business.com |
- How to Advertise Your Business on Popular Podcasts (and Why You Should)
- How Video Can Make Your Blogs More Reader Friendly
- Fiverr Launches Collaborative Tool for Freelancers
- Why Your Business Should Implement Workforce Monitoring
- 10 Business Ideas for Entrepreneurial College Grads
- Changing Careers? 4 Ways to Make Your Resume Stand Out
- 5 Accounting and Finance Certifications to Get Ahead
- Run an E-commerce Business? Make Sure You Have a Good Return Policy
| How to Advertise Your Business on Popular Podcasts (and Why You Should) Posted: 30 Jul 2019 07:00 AM PDT  Advertising through podcasts may be one of the most positive steps you take for your business' growth and success. A recent study saw two to three times more engagement from ads placed on podcasts over ads heard on the radio. When done correctly, podcast advertising, as a strategy, can do wonders for your brand. It can boost user engagement, further your brand's audience and reach, and improve your company's lead generation. Now might just be the right time to consider integrating a podcast advertising strategy into your brand's overall marketing strategy. It might surprise you to see the potential influx of positive conversions if you do. Why you should advertise your business on podcastsPodcasts are rising in popularity and that interest is on the incline. There are approximately 40% of Americans who listen to podcasts and 45% of global internet users who do the same. People lead busy lives and podcasts are a convenient, easy way to tune into your favorite content, whether that be business-related, entertainment, storytelling, etc. Advertising your business on a popular podcast furthers your brand reach and awareness to consumers. Advertisements through this medium are convenient because users are already invested in listening to the podcast when the ad comes up. They get to learn about your brand and how it brings value to their lives, if they invest in it. Advertising through podcasts also builds trust and credibility between listeners and your brand, especially if they aren't already aware of your company or what it does. Podcast listeners are loyal, and when their favorite podcast endorses your products and services, it can convince them that you're worth a shot and their hard-earned dollars. Another great bonus to advertising on a podcast to consider is that ads aren't blocked by ad blockers on podcasts. Research estimates that if ad-blocking rates maintain at their current levels, publishers will lose $35 billion by 2020. With software so prevalent, podcasts provide the perfect avenue for businesses to avoid ad blocking services that hinder brand awareness. Let's look at how to advertise your business on popular podcasts so you reach your goals faster, including:
Choose the right podcastWhen compiling a list of podcasts on which you plan to advertise your brand and its products, it's vital that you pick the right ones. It might seem like a wise idea to get a spot for a podcast with a large audience, but if that audience doesn't care about what you're selling to them, there's no point. They'll listen to your ad and then continue with their lives as they did before. You need to choose a podcast whose audience's interests are relevant to what your brand offers. That doesn't mean that your products and services have to directly tie into the show's content or relate to it in a narrowed, specific way, but they should cater to that audience's desires. Ideally speaking, your brand and the podcast it's advertising on share the same target market. For example, the podcast GirlBoss boasts a largely female-dominated audience where the show itself dives into topics like women in the media, fertility issues and celebrity interviews. It advertises brands with audiences similar to theirs who are likely to enjoy the ad content they're consuming, such as Bumble, Sephora and Pinterest. Because the podcast and these brands cater to audiences who share the same needs and interests, it makes sense that GirlBoss would run these ads. If the podcast you choose to advertise on is going to bring you more customers, you need to know who your target audience is in the first place. Create buyer personas for your target market that give insight into what kind of content and solutions your business can give to your ideal customer. By catering to customer needs, you're one step closer to successfully advertising through podcasts and improving your lead generation. Choose the ad type that's right for youDepending on where you're at with your business and how much you have to spend on advertising, there are different options to choose from. John Lee Dumas, who runs the successful podcast Entrepreneur On Fire, argues that there are a few industry-standard rates for podcast advertisements:
A CPM, or cost per mille, is the cost a sponsor is willing to pay for every thousand people who listen to your ad. A pre-roll ad plays at the beginning of the podcast, a mid-roll plays toward the middle, and a post-roll plays at the end. The most popular type chosen by brands is mid-roll because the audience is already engaged and immersed in the content they're consuming, so placing an ad in between isn't likely to turn them off or cause them to exit out. However, mid-roll ads are more expensive for this reason. It's essential to go back to your budget when choosing the type of ad you'll invest in to promote your business. You might be in a good place financially so you can afford the mid-roll advertisement if that's what works best for your marketing strategy, but it's important to keep in mind that, even if you don't have the budget, other ad types can be just as lucrative. Track your ROIThe only way to know how these ads are performing for your business is by tracking important KPIs so you can measure your ROI. There are a few ways to track your progress as it isn't the easiest to directly track your ad's performance on another brand's podcast. Create a landing page dedicated to converting visitors that come from your podcast ads. Tracking important metrics on a webpage is far easier than for a podcast. While its accuracy won't measure to the exact number since not every listener is going to engage with your ad, it will still give you an idea of how it's performing. Track how many unique visitors you attract to your landing page. If the numbers aren't what you hoped for, try optimizing your CTA so it's more effective and encourages action. Another way to measure your ROI is by offering listeners a promo code that only they have access to. Customers from other parts of your marketing strategy won't have access to it unless they tune into the podcast so you'll know those users engaged with your ad if they use the code. Some 95% of advertisers use a promo code in their ads to track conversions, so it's an effective way of seeing where your ads stand. Wrapping it upIf you're determined to make advertisements on podcasts a successful avenue to grow your business, there are a few things to keep in mind. Choose the right podcast with the right audience to advertise to so that you don't waste your budget targeting the wrong people. Choose an ad type that fits your budget but will still appeal to your audience. Finally, measure and track your ROI so you know how your ad performs and can continue creating effective ones in the future. What will you do to advertise your business on popular podcasts? | ||||||||||||||||||||||||
| How Video Can Make Your Blogs More Reader Friendly Posted: 30 Jul 2019 07:00 AM PDT  While the rise in video consumption, which makes up nearly three-quarters of all online traffic, may make it seem like blogs will quickly be falling to the wayside, that isn't the case. People still turn to blogs as a trusted source of information. In fact, research shows that blogs have been rated as the fifth most trusted source for accurate online information. But, if you want to drive more traffic to your blog and get even more loyal fans, you should consider combining your blogging strategy with online videos and other forms of visual media. By providing both content formats to users, you'll be able to introduce your blog to people who might not have given you a chance before as well as improve engagement from the readers you already have. There are four key ways you can transform your blog with visual media, including:
Here's more on each strategy. Add screencasts for tutorials.If you're teaching your readers how to do something in your blog posts, instead of only providing written step-by-step instructions with screenshots, include a video tutorial. A video tutorial can show your readers exactly how to complete a task, making it much easier for them to follow your instructions. After all, your readers are likely heading to your blog to learn something, so make sure they get what they're looking for by providing detailed video lessons, along with helpful text. Creating a video tutorial is especially easy if you're teaching your readers a computer-based lesson, like how to create featured blog post images or how to create a budgeting spreadsheet with Google Sheets, because all you have to do is record your screen. There's a lot of affordable, even free, screencasting software available on the market that allows you to easily record activities on your computer screen. Plus, if you're selling a product, video tutorials can help your audience understand how to use the product better. When they have a better understanding of the product and how it works, they'll be more likely to buy. In fact, according to statistics, 82 percent of consumers have bought something after watching a video. Creating video tutorials is one of the easiest ways to incorporate videos into your blog posts. Include GIFs for entertainment.Not all of the videos you include in your blog posts need to be for educational purposes, you can also add in videos for entertainment purposes as well. It might not seem like an effective tactic at first, but adding videos or GIFs into your blog posts will make your blog posts more fun, which in turn will result in more engaged users who are willing to stick around longer. For instance, if you have a funny line in your blog post, you can make it even funnier by adding a relevant GIF. Or, if you're trying to convey a certain emotion, adding in a GIF related to that emotion can make users connect with your content better. In fact, according to Time, 36 percent of millennials say that GIFs and emojis better communicate their thoughts and feelings than words do. So, start connecting with your readers by speaking their language. There's a lot of talk online about whether using someone else's GIF in your blog post is a cause for concern though. While consumers can use the original content of others to create a GIF and share it on social media as many times as they want, many think that businesses should be a bit more careful. While there's no standing legal decision regarding the use of GIFs made from copyrighted material, if you want to err on the side of caution, just remember to add a link to the site you got the GIF. Alternatively, you can also create your own for free using a site like Giphy. Show behind-the-scenes with vlogs.Readers want to get to know the person behind the blog. When they get to know you, your readers will feel like they have a connection with you. This will help them trust your opinions and check in on what you have to say daily. In addition, they'll be more likely to share your posts and leave comments. All of this is great for blog engagement, but it can also help boost your sales too. According to research, for millennials, brand authenticity is second only to loyalty discounts in importance when choosing companies to support. So, you need to show readers the real you. And you can do that by adding behind-the-scenes vlogs to your blog posts. A vlog (short for video blog) gives viewers a peek into your daily life. Vlogs are some of the most popular content on YouTube and vloggers can show anything from grocery trips to walking their dog. How does this relate to your blog content though? Well, instead of showing your blog readers your groceries, you can give them a behind-the-scenes look at your business. For instance, if you blog about blogging, your audience is filled with aspiring bloggers who would love to see your daily routine and process. Vlogs can add an engaging, personal touch to your blog posts and allow you to form a stronger connection with your audience. Turn your blog content into videos.Aside from inserting videos into your blog posts, you can also turn your entire blog post into a video. Repurposing content, which is basically recycling existing content, is a great way to stretch your content further. This saves you time and helps you reach new audiences. Think about it: Not everyone likes to learn from reading, some people prefer to listen to podcasts or watch videos. So, by repurposing your written content into video content, you can attract more people to your website who might have previously passed you up because you didn't offer the type of content they enjoy. Remember, when transforming your blog posts into videos, don't just sit in front of the camera and read your blog post word-for-word. Instead, summarize the main points of your blog article in the video. This will keep your video shorter, which is perfect because shorter videos – up to 2 minutes – get more engagement. Share your videos on YouTube and embed them directly in your blog post so readers can choose how they want to consume your content. And don't forget to link your blog in the description of your YouTube video so that you can introduce a whole new audience to your blog. Blogging is still one of the most popular forms of content on the internet, but video is becoming more and more popular every day. So, why not merge the two to get the best results? With these tips for how to transform your boring blog with video, you can impress the readers you already have and attract even more users to your website. | ||||||||||||||||||||||||
| Fiverr Launches Collaborative Tool for Freelancers Posted: 30 Jul 2019 06:00 AM PDT 
If you're a small business owner with a big project on the horizon, a new option just opened up that could make it easier to fill operational gaps using freelance help. Starting today, the popular online marketplace for freelancers known as Fiverr launched its Studios product, which officials say is positioned to help freelancers collaborate on complex assignments. Touted as a "transformative product" in a growing gig economy, Fiverr representatives said the new service will create more opportunities for freelancers and employers alike. Under the new service, freelancers can join a company's "studio" to "create projects combining their different skills and experience to offer full-service solutions to tackle larger and more complex assignments for businesses." Hila Klein, Fiverr's chief operating officer, said the company's new service is a way for its community to "connect, create and collaborate on a global scale." "Studios is the natural evolution of the Fiverr platform," she said. "Today, we have elevated our marketplace from a platform of single contributor gigs to teams of talented freelancers collaborating as a small agency to serve all businesses." Since its inception in 2010, Fiverr has served as a platform where freelancers can offer their services and then be hired by individuals, small businesses and enterprises looking for someone to complete a specific task. Over the years, the Tel Aviv-based company has grown to become a force in the online gig economy, with more than 830,000 freelancers, or "sellers," from 160 countries offering their skills in 200 categories. "[Studios] is an amazing opportunity for sellers and buyers alike to work on, and have complex projects completed with the same frictionless experience they are used to getting with Fiverr," said Klein. What Fiverr Studios means for freelancersFreelancers on Fiverr will have the opportunity to not only join Studios, which allows a group of people to band together to offer more complete services, but they can become a Studio Lead. Along with the service's ease of use, Fiverr officials said Studios provides "richer services" right out of the gate. In one example, officials said a studio could be created when "a content strategist [chooses] to team up with a writer and a graphic designer to offer a comprehensive content marketing deliverable, which could include building out a strategic plan, designing and/or writing, and delivering the content, all using different freelancers, but with a single point of contact." Further, under Fiverr's Studio structure, each member can focus on their work without worrying about billing, invoicing or managing payments. How Fiverr Studios can help SMBsWhen it comes to collaboration, communication is key. Fiverr representatives said Studios affords businesses of all sizes the "same advantages as if they're working with a small creative agency in the offline world." Since small businesses don't usually have the funding on hand to pay for the help of a specialized creative team, Fiverr's e-commerce approach could be an appealing and affordable way to approach a project that needs specialized expertise. Since Fiverr is all online, officials said Studios will allow companies to know at a glance who is working on what and how long each task should take. Businesses will also be able to determine a fixed price. | ||||||||||||||||||||||||
| Why Your Business Should Implement Workforce Monitoring Posted: 30 Jul 2019 06:00 AM PDT  Research from HR.com has revealed that nearly all U.S. companies, 96 percent, enlist the expertise of a background check during the hiring process. However, after employees are hired, that attention to detail shifts elsewhere: spending limitations, privacy training, travel requirements, standard protocol for reporting unethical situations, and the like. However, as much as employers build trust with employees, there's a risk in running one check and never looking again. Building trust with your teamIf you ran a background check before your employee started and he consistently shows up and contributes without conflict, you're all good, right? Well, not quite. There are some factors that can't be confirmed simply through observation or regular one-on-ones, and ignorance is not bliss. That's why a growing number of companies are establishing post-hire monitoring. It sounds intense, I know. If visions of cameras and keyboard readers come to mind, let me dispel those concerns. Responsible programs look only at what's relevant while respecting employees. Workforce monitoring serves as a reliable step to ensure that necessary information, like license status, driver records, and criminal activity, is checked on a regular basis. It's not an entirely new concept. Companies in the transportation industry run annual checks on driver records to keep tabs on safety and potential risk. However, that leaves about 11 months and 29 days of open time in between. If a delivery driver gets into two at-fault car accidents, they may not be discovered until the following year. And for companies without follow-up screens, they won't be discovered at all. It's an especially pertinent issue for those working with people, especially minors. What happens when an employee at a daycare center is charged with assault and the employer, unaware, does not take action? Incidents like these affect people beyond the immediate situation. Consider the impact on the daycare itself and the trustworthiness of the brand. Once that trust is broken for customers and families, it can be nearly impossible to recover. That's an extreme case. In reality, most employees live with integrity. But some things slip, like license renewals. That's why more employers are looking for ways to track compliance and avoid uncertainty when it comes to liability. How can we keep up to date on the important issues to protect our brand and our customers, without impacting employee privacy? What workforce monitoring is and isn'tNew technology gives employers the confidence of current information where it matters. Using the most up-to-date and comprehensive data sources, daily monitoring runs only on the information you care about to help prevent workplace violence, corporate litigation, professional license lapses and fraud. Companies provide lists of employees that fall underneath the scope of monitoring. Providing these lists and keeping them up to date had traditionally been a challenging, manual process, but technical innovation is rapidly easing this administrative burden. The monitoring provider then automatically enrolls your employees in all desired services. Monitoring is then up and running, continually synching with the latest employee list, and if there's a hit, you receive an alert to review the issue immediately. Comprehensive monitoring programs offer the following services, which can be adapted to a business's specific needs.
Continuous, real-time screening allows companies to stay updated without devoting an entire position or team to the process, which is especially unrealistic for smaller businesses. You set up a program and it runs independently in the background. While screening is important, you have plenty of other things to spend your time on. This will help you free up the bandwidth of your HR team so resources can address growth and employee development, as opposed to manually monitoring the basics. Editor's note: Looking for the right employee monitoring solution for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs. Current workforce monitoring industry trendsNearly every industry benefits from a workforce monitoring solution, with some standing out more than others, including healthcare employees interacting with patients, finance executives with access to clients' financial information, transportation contractors driving passengers and childcare staff working with minors. [Are you looking for the right employee monitoring solution for your business? Check out our reviews and best picks.] The gig economy provides a clear example. Gig companies have been making news as they've implemented workforce monitoring programs, which identify risky and straight-up dangerous behavior, like car accidents, DUIs, or assaults. Near-instant alerts notify leadership of incidents, putting the control in the employers' hands. These types of events are important knowledge for risk assessment and customer safety. With ongoing monitoring of relevant data sources, employers get the information they need to protect customers and employees alike. Employer considerationsTrust works both ways in a successful team. In order to maintain respect for employee privacy and keep the high-level security of the company first, having the right policies in place is critical. Implementing an ethical solution requires transparent, well-documented policies that make priorities clear to employees and keep the focus on safety, not scrutiny. As with any business decision, get legal counsel involved to set reasonable guidelines and have a plan to share it with your workforce. Some aspects of compliance are obvious. Companies need to abide by the Fair Credit Reporting Act (FCRA), the Equal Employment Opportunity Commission (EEOC) laws and all applicable laws at the local, state, and federal levels. A thorough provider can help with that part. Beyond the law, however, mindful companies can take steps to enable sound policies that encourage open communication with, and from, employees. Workforce monitoring can be a powerful tool in your company's risk management approach, but a monitoring program will only be as successful as the policy that governs it. It's recommended that employers establish a self-reporting policy, which allows employees to come forward with relevant information and take a proactive role in the conversation. This policy should identify which employees or positions fall under the purview of monitoring, what types of events need to be reported and outline the necessary timeline of action. Prehire background checks are critical, but they represent a moment in time, a snapshot. Monitoring is like insurance for your hiring decisions. If an issue arises that is a deal-breaker for your business, your monitoring program will catch it for you. Hopefully, before it affects your colleagues, your customers and your company.
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| 10 Business Ideas for Entrepreneurial College Grads Posted: 30 Jul 2019 05:19 AM PDT  Traditional 9-to-5 jobs are no longer a strict norm, especially for young people just entering the workforce. Side hustles, freelance work and self-run enterprises are increasingly popular and offer a plethora of ways to make a living from outside the confines of a cubicle. Many recent grads are choosing to forge their own paths by starting their own businesses across a wide variety of industries. Here are 10 low-cost business ideas you can start as a new graduate. Clothing companyDid you dream of working in the fashion world, but couldn't find more than a few low-level opportunities in the field? If you have a great eye for design, you can strike out on your own and start an independent clothing company. Knowing how to sew or silk-screen will help you get off the ground, but you'll eventually need to find a good manufacturer to reach the next stage of growth. As with any business, high-quality products combined with great marketing skills are the keys to success. Content creationThanks to social media and the 24-hour news cycle, creative individuals like writers and graphic designers can use their talents to produce high-quality, shareable content for businesses and media outlets. A growing gig economy of freelance and contract workers makes it easier than ever to market yourself as a professional freelance content creator. This can also be a great way to build up your skills should you choose to seek a full-time job later on. To help yourself stand out, make sure you have an idea of your brand, how you want to market yourself and how you want your skills to be used. Electronic repairIn today's tech-obsessed world, most people use smartphones, tablets and laptops daily. With this constant usage, there's a good chance that at least one of those devices is going to crash or break at some point. If you're a techie who can fix these issues with relative ease, you can offer to repair people's electronics for cheaper than what the big retailers charge. Start by marketing your services to students at your alma mater who don't want to wait for the campus IT department to fix their hard drives. Event entertainmentIf you spent your undergrad years tinkering with sound-mixing software and staffing the DJ booth at your college radio station, starting an event entertainment company could be the right path for you. With only your music collection and your laptop, you can get people out on the dance floor at weddings and birthday parties, or simply provide background music at more casual events. DJ equipment is a big investment, but plenty of companies offer daily rentals of speakers, subwoofers and other accessories that you can use until you save up enough to buy your own. Fitness instructionWere you constantly hitting the gym after class? Turn your passion for fitness into a lucrative job by becoming a fitness instructor or personal trainer. You'll have to put in a small amount of time and money to get certified, but organizations like the Aerobics and Fitness Association of America offer online certification programs that you can complete at your own pace. Once you're a certified trainer, you can look for openings at local gyms or work one-on-one with clients at their homes. You can also find numerous programs for certification to teach fitness classes such as yoga or Zumba. Graphic designAre you a whiz with software tools like Adobe Illustrator or Photoshop? Many small businesses are clamoring for affordable access to professional branding, such as logos, banners and signs. If you're about to leave college with a toolbox full of graphic design skills, consider launching a freelance design business that caters to other entrepreneurs. Once you establish a network of contacts and a reputation for quality designs, you can leverage past work into new jobs and possibly even set yourself up with a full-time job right out of college. Handmade craftsDo you have a knack for knitting, making jewelry or creating other small crafts? If you can produce a lot of items quickly, you can open up an online storefront and sell your creations to the public. Startup costs are extremely low if you purchase your materials in bulk from a craft supplier, and if you can turn orders around quickly, you'll make a profit in no time. You could even turn your store into a full-time gig. Websites such as Etsy, Bonanza and ArtFire are great places to sell your work, and a supplementary Instagram account can help drive traffic to your online store. Social media consultationWant to put that marketing or communications degree to good use? Consider starting a social media consulting firm. Small businesses often have to take care of their own social media marketing. With so many other responsibilities, though, the company's owners may be too busy to come up with great strategies for each of the growing number of social channels businesses are expected to utilize. As a consultant, you can help businesses determine the best tactics, posting schedules and content for your clients' target audiences. As their follower counts grow, so will your business. [Related: Helpful Social Media Courses for New Marketers] Teaching your skillAre you an expert in photography? Guitar? Coding? Consider starting a freelance business teaching your skill to others. This is a great way to utilize (and monetize) your passion, and if you have a knack for teaching, you can grow your business to incorporate multiple teachers and skill subsets. Start by making sure you have a way to show your expertise in you field (think a website with your photos or audio clips, or an active Instagram feed with other examples of your work), and get the word out through as many channels as possible. Partnership with man's best friendWith 7 out of 10 millennials reporting they own a furry friend, there's a rich market for all types of pet care, such as grooming, walking, sitting and training. If you have skills in or passion for any of these areas, you can start up a business in no time. Pet sitting and walking requires little to no professional knowledge or equipment, while grooming and training will be more time- and cost-intensive. Head to your local dog park or grooming center to find clients and identify customer needs. Whatever you do, make sure it's something you're familiar with. "Recent college graduates should focus on a particular niche," said Matthew Ross, co-owner and CEO of The Slumber Yard. "Don't worry about capturing the entire market early on – you can always expand operations later." Looking for even more ways you can start a business? Check out these ideas from our partners at the Chamber of Commerce. Or dig into these other great business ideas. Additional reporting by Nicole Fallon and Adam C. Uzialko. | ||||||||||||||||||||||||
| Changing Careers? 4 Ways to Make Your Resume Stand Out Posted: 30 Jul 2019 05:00 AM PDT  Creating a resume is perhaps the most difficult aspect of searching for a job. It can be stressful fitting all of your notable experience onto one carefully formatted page and ensuring that it's error-free. More difficult than that, however, is creating a resume when you are changing careers and entering a field where you'll compete with candidates who likely already have relevant experience in that field. Don't be discouraged. Lack of experience in a specific field does not mean lack of skills, and getting an interview is all about how you present yourself in your application. [Read related article: How to Get a Job 101.] "The purpose of a resume is to convince the hiring manager that you are the best candidate for the job," said Shweta Khare, career expert and founder of CareerBright. "It might not be an easy thing to convey convincingly if you are changing careers, but with some effort, you can stand out." The best way to approach resume writing, Khare said, is to highlight your skills while downplaying your shortcomings or lack of experience. Here are a few ways to make yourself look great on paper and land an interview. The rest is up to you. Use the right format.Before you submit your resume to a prospective employer, read as many sample resumes as you can to get a good idea of what the accepted norm is for the content and style of a resume in this field. "This is a time when you want to conform to the standards," said Richie Frieman, author of Reply All [And Other Ways to Tank Your Career] (St. Martin's Griffin, 2013). "A law firm is expecting something much more conservative than a graphic design or architecture firm. If your industry allows you to be creative or unique, make sure you take advantage of it. The opposite is true as well: An accounting firm will most likely not appreciate an artistic-looking resume." Identify your transferable skills.Your resume should reflect all the skills you have accrued and demonstrate how they will be applied in the new position. For example, if you were a longtime teacher, and you're looking to get into account management, emphasize your communication, organization and time-management skills. "Find where your skills in your current career are relevant to your new career and highlight them," said John Crossman, CEO of Crossman & Company. Do not get hung up on skills unique to the new field — remember, you have valuable skills and experience of your own to bring to the table. Make sure that your resume clearly shows how your existing skills can be utilized and beneficial to the position you are applying for. Volunteer and freelance in your new field.If, however, you want to gain relevant experience, or feel that it is necessary before or while you apply, volunteer or freelance work is a great way to get experience, build a network and pad your resume. Freelancing is becoming more popular and accessible across industries than ever. [Read related article: 15 Freelance Job Marketplaces.] "Many hiring managers feel that volunteer work makes job candidates more attractive," Khare said. "If you have volunteered or done freelance work, it counts as work experience." Furthermore, freelancing or volunteering helps you build a network in your new field, which can prove to be invaluable as you embark on a new career path. Those in your network can provide guidance and may even have contacts to help you with your job search. [Read related article: 7 Networking Tips for Job Seekers.] "Your network can not only help you land a job in the field but also offer feedback on your resume," Khare said. "Find a contact who works in a similar position and ask them to review your resume before you send it in." Quantify your achievements.Regardless of the field(s) you worked in before, hiring managers want to see quantifiable achievements to know that you can make a positive change in any situation. Your resume should tell them about what problems you solved in past positions and how you solved them, even if they aren't related to your new industry. "You need to [present] quantifiable data for the hiring manager to analyze," said Charley Polachi, managing partner of recruiting firm Polachi Access Executive Search. "What was the state of the company when you went in and what is the state today? Hopefully, it's up, and if it is, what did you do there to improve it?" This can be difficult, particularly if your past positions did not require you to work with numbers, but it can be done in a way that quantifies your experience. For example, let's say you were a supervisor for a research program. Instead of stating that you were "responsible for supervising researchers," you could say you "supervised 10-15 graduate research students each year by providing mentorship…," etc. Providing numbers makes it easier for the hiring manager to get a snapshot of the scale of your work and get a better gauge of your output. Scrutinize the resumes of people with your potential job.Utilize LinkedIn to gain a better understanding of what is required or expected from someone applying for the position you are seeking. Is there a degree you need to have? Specific training? Unique skills? LinkedIn can help you find individuals with the same or similar job position to the one that you are applying for. See what kind of experience and skills they list, then use that as a guide when presenting yourself on paper. If you come across someone you have a connection with, like a shared alma mater or mutual contact, politely reach out and see if they would be willing to chat with you about their experience in the field. Make sure you mention how you found them and why you are reaching out. [Read related article: Tips for Networking on LinkedIn.] Make sure you have a strong online presence.Nowadays, your online presence is just as important as your resume. Make sure all of your social profiles are clean, professional and up to date. If you do not have social profiles, make a LinkedIn profile to give hiring managers a more in-depth picture of who you are and your professional background. Additionally, you can use your LinkedIn to further establish yourself in your new industry by sharing articles and connecting with relevant voices within that field. Additional reporting by Nicole Fallon. Some source interviews were conducted for a previous version of this article. | ||||||||||||||||||||||||
| 5 Accounting and Finance Certifications to Get Ahead Posted: 30 Jul 2019 05:00 AM PDT  Nearly every public and private business entity – across all levels of government, small to large businesses, and certainly major accounting firms (KPMG, Ernst & Young, Deloitte, PricewaterhouseCoopers and so on) – hire financial professionals. The great news is that accounting and finance jobs are in demand, and are expected to continue an upward trajectory for several years. The Bureau of Labor Statistics predicts 10% employment growth for accountants and auditors through 2026, which is above average for occupations in general. Plus, a career in accounting and finance pays off. LinkedIn estimates the median salary for intermediate-level accountants in the U.S. is $52,000, with Glassdoor reporting a slightly higher median of $56,560. (Both sites indicate about $74,000 at the higher end of the scale.) Financial managers fare much better, with median salaries of $97,000 and $100,535, respectively. In addition to relevant education and experience, a certification can propel your career forward, and it serves as a point of justification when negotiating a salary bump with your current employer or considering a new job offer. Top 5 certifications, by the numbersThe following table lists top accounting or finance certifications and the number of open positions on a single day that call for the certification specifically or experience with the subject matter. This isn't a scientific analysis in which every job description is examined, just an overall glance at search numbers. Job site search results
The following sections provide details of these popular accounting and finance certifications, as well as other credentials you might find worthy to pursue. Certified Government Financial Manager (CGFM)Those interested in government accounting, financial reporting, auditing and budgeting at the local, state or federal level should consider the CGFM, offered by the Association of Government Accountants (AGA). To achieve the CGFM, candidates must have a bachelor's degree and at least two years of professional-level experience in government financial management. They must also pass three CGFM exams: Governmental Environment (GE), Governmental Accounting, Financial Reporting and Budgeting (GAFRB) and Governmental Financial Management and Control (GFMC). Each exam costs $125, and candidates must pay an application fee ($70 for AGA members, $33 for student members and $99 for nonmembers). Certified Management Accountant (CMA)IMA, short for the Institute of Management Accountants, is the membership organization behind the Certified Management Accountant (CMA), which aims at management accountants and financial professionals. Regarding the difference between a CMA and other accounting-related professionals, IMA explains that CMAs understand the "why" behind numbers, not just the "what." That means a CMA's role may involve analysis and reporting of monthly financials, forecasts and the annual budget, as well as input into strategic planning. A CMA certification can be lucrative. IMA's 2019 Global Salary Survey reports the median income for CMAs is 31% higher in the U.S. than for their peers without the designation. To achieve the CMA, you must have a current IMA membership, a bachelor's degree or an approved accounting certification, two years of relevant work experience and a passing score on the two-part CMA exam. The first part of the exam covers financial reporting, planning, performance and control. The second part focuses on financial decision-making. IMA charges $245 for a Professional-level membership, an entrance fee of $250, and each exam part costs $415. (A discount is available to students and academic members, and a limited number of scholarships is available each year.) [Take Dr. John's CM course on Udemy.] Note: If you plan to sit for the two-part CMA exam on or after January 1, 2020, review the new exam structure and FAQs to ensure you're adequately prepared. Certified Public Accountant (CPA)The creme de la creme of accounting certifications is the certified public accountant, or CPA. A CPA works for a public or private sector organization, or as a consultant, and can handle a variety of tasks, such as maintaining and auditing financial records, overseeing finances and budgets, preparing taxes, and providing financial plans. Each state ‒ and several jurisdictions ‒ certify and license CPAs through their boards of accountancy, which means you'll need to research requirements for your locale. Typically, a minimum requirement is a bachelor's degree with courses in general accounting, cost accounting and the like. A few good starting points are the AccountingEdu.org site and the American Institute of Certified Public Accountants (AICPA) CPA Exam page. Chartered Financial Analyst (CFA)The CFA Institute offers the Chartered Financial Analyst (CFA) certification, geared toward investment and portfolio managers, financial advisors and analysts. [Take a CFA Level 1 course on Udemy.] Candidates for the CFA need an international passport for ID purposes, as well as a bachelor's degree or equivalent, four years of professional work experience, or a combination of education and experience. Earning the CFA requires passing three exams – levels I, II and III – which are offered every June. (The Level I exam is also offered in December.) The CFA Institute charges a one-time program enrollment fee of $450 and $950 for each exam. Enrolled Agent (EA)Tax professionals may be interested in earning the enrolled agent (EA) credential. Created by the IRS, the EA credential identifies people who are qualified to represent U.S. taxpayers in personal and business tax situations, such as collections and appeals. The EA is the highest credential you can achieve through the IRS. To become an EA, you must have worked for the IRS for at least five years in which you interpreted tax code, or pass the three-part Special Enrollment Exam (SEE). You must also obtain a Preparer Tax Identification Number, pass a background check, adhere to ethical standards and complete 72 hours of continuing education every three years. Each part of the SEE exam costs $184.97. Treasury Department Circular No. 230 is the go-to source for official information on what EAs do and how to become one. The National Association of Enrolled Agents (NAEA) offers information that's easier to digest, as well as training resources. What else?Another worthy certification in the accounting and finance realm is the Certified Bookkeeper (CB) by the American Institute of Professional Bookkeepers. The Institute of Internal Auditors is well known for its Certified Internal Auditor (CIA) certification, but it also offers the Certified Financial Services Auditor (CFSA) and Certified Government Auditing Professional (CGAP), among a few other credentials. In addition to providing CPA exam information and resources, the AICPA offers several certifications of its own, including the Chartered Global Management Accountant (CGMA), Accredited in Business Valuation (ABV) and Certified in Financial Forensics (CFF). Higher-level and specialty certifications of note are the Certified Chief Accountant (CCA), Financial Risk Manager (FRM), Certified Fraud Examiner (CFE), Certified Valuation Analyst (CVA) and the Master Analyst in Financial Forensics (MAFF). Finally, SAP offers Certified Application Associate credentials for Financial Accounting and Management Accounting on various SAP applications. To see all certifications, go to the SAP Certification Validities page and search for "accounting." | ||||||||||||||||||||||||
| Run an E-commerce Business? Make Sure You Have a Good Return Policy Posted: 30 Jul 2019 04:45 AM PDT  Online shoppers want to know that if something they buy doesn't work out, they can return it to the retailer with ease. If you want to be a popular e-commerce site, you better have a good return policy. "If you don't have a good return policy, people are less likely to trust that you're selling something worth the money. When a site says, 'no returns or refunds,' it makes the customer more likely to think that it's a risky purchase, or, worse, a scam, since online businesses can be less known," said Nicholas Rubright, a digital marketing specialist at e-commerce market research firm Zik Analytics. Rubright, along with other small and medium business (SMB) experts, weighed in on what goes into creating and implementing a fair return policy. What makes a good return policy?"A good return policy … is the simplest [one] – for example, offering a customer 100% of their money back should they not be satisfied and also that they can return the product up to 30 days from [the] purchase [date]," said Marco Baatjes at Bottom Line Cents Ltd. Before drafting your return policy, you'll need to ask yourself a few questions first. Rubright suggested the following questions to help you define your policy:
You need to be as specific as possible so as not to leave anything to question. If any aspect of your policy is vague, consumers won't trust your e-commerce business. "A return policy should include specific instructions for returning the items. First, the customer needs to know the amount of time they have to return the product. If your customer needs to request a return authorization first, make that clear, and provide an email or phone number [where the customer can] obtain an authorization number. You should state any specific requirements, such as the items must be unused or returned in the original packaging," said Kim Hawkins, owner of Events Wholesale. When you're determining the time frame for returns and refunds, consider the value and usage of the product, said Slisha Kankariya, CMO at Clarity: "Make sure that the customer has enough time to think about whether they want to keep the item or not. At the same time, it should ensure that the company is able to take back the product without any issues." Your return policy, though, should be influenced by the type of business you have. "[A good return policy] will vary greatly depending on the business and the products being sold/returned, but the simplest answer is that you want a return policy you can afford that doesn't discourage people from making the original purchase," said Juli Lee and Bill Keefe from e-commerce sleepwear brand Julianna Rae. Lee and Keefe added that if you have anything that might prevent consumers from buying, or that causes them to second-guess their purchase, you should consider changing your return policy. Factors SMBs should consider when crafting a return policyIn addition to determining how long customers have to return an item, Baatjes recommended that small and medium-sized business owners consider the following:
There are also more personal things a business owner needs to consider when drafting their policy, and those considerations mostly center around the customer. Lee and Keefe suggested considering the following:
"Try to eliminate any common reasons for returns that are under your control," said Hawkins "For example, if customers often return broken items, it helps to re-evaluate your packing materials or change shipping methods." What can happen to your business if you don't have a good return policy?Besides turning customers off, there are other downsides to having a poor – or nonexistent – return policy. If a customer wants to return a product but doesn't get the support they were hoping for from your business, the repercussions could be felt for a long time. In a world where bad reviews can end a business, the last thing you want is to disappoint longtime customers and have them turn on you. As a small business owner, establishing and maintaining trust with your customers is critical. "Most customers would like to know if they have the option of returning goods and receiving their money back, which helps improve conversion rate and builds trust with your customers," said Baatjes. This is especially true if your business sells clothing or general fashion merchandise where the sizes can vary greatly. "Sizing matters a lot and is very subjective, so a bad return policy will make buyers shy away," said Tim Trampedach at Torqued. "In our space, automotive parts, sizing/fitment matters less, but you have parts which sometimes need to be returned, and I personally would not buy from a store which doesn't have at least a 30-day full refund policy," he said. How does implementation of a return/refund policy work?Looking to other e-commerce sites and taking inspiration from their return/refund policy is a great starting place. Seeing what similar companies are doing gives you an "understanding [of] what goes into creating and implementing a great return/refund policy," said Baatjes. Lee and Keefe recommended making sure that the businesses whose return policies you check sell similar products at similar price points. The pair also recommended looking to e-commerce sites that you yourself shop for guidance. What is it about their return policy that you like and what do you wish they did differently? Is their policy stated clearly and is it visible? Use these questions to create and implement a better return and refund policy for your business. "An e-commerce site should have clear links to the return policy throughout the site and on every product page," Hawkins said. What about your business needs?For your business to flourish, you need customers, and you need customers that keep coming back. "Having a good return policy build trusts and improves your sales. However, the key to meeting your business needs and goals is to have more happy customers and fewer returns, which will help you stand out and most likely have repeat customers," said Baatjes. Baatjes also recommended being proactive. Responding to customer phone calls, emails or other queries can help reduce your refund and return rates in the long run. But businesses need to deal with a lot of numbers. "[There are] two main things to consider: cash flow/inventory turnover and market perception," said Trampedach. "For something that sells at any moderate volume, I would not be concerned with returns even if they come back slightly damaged sometimes. Those can be sold off on marketplaces or in an outlet-style sale. Flexibility and perception outweigh cash flow in a high turnover product. [With] a low-turnover product, a retailer may be concerned with getting stuck with excessive inventory when a return happens, and that's part of the risk of being a retailer." Kankariya added that a company must factor in the average return rate, the cost to process returned goods, the possibility of reselling those goods and demand in the market for something that is being returned. Resources to help you draft your e-commerce return/refund policiesThe easiest way to find examples of return policies is to visit sites that are similar to yours. You can also find templates on the internet. Here are some to get you started: Shopify refund policy template "E-commerce entrepreneurs need to accept the fact that returns are both inevitable and a growing trend. Online customers are flocking to stores that have shopper-friendly return policies, such as free returns and the option to return an online purchase in-store," said KJ Deaie, product specialist at Termly. "Understanding these evolving e-commerce trends is a must before an e-commerce drafts its own return policy. A policy that is too strict could have devastating consequences in today's competitive online retail space." |
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