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  • Tips before launching your e-commerce

    Tips before launching your e-commerce

    Are you preparing to launch your e-commerce? So welcome to this article where we will give you some valuable tips to better begin this new adventure and be your own boss. In addition to following current trends, discover 8 tips for starting your business successfully!

    1. Study the competition
    Evaluating your competitors will be a first step in finding out how to stand out and tackle the growth of your e-commerce. Faced with 157,300 French merchant sites, you must analyze your strengths and weaknesses, to implement a different and effective strategy. This is your best chance to succeed!

    2. Choose the e-commerce solution adapted to your needs
    The platforms to create your online store are not lacking! Study all the tools at your disposal, their advantages and disadvantages, to select the one that best suits your needs and your skills in web development. If you opt for an e-commerce CMS, answer our quiz to discover which is the most adapted to your needs.

    3. Organize your SEO and marketing strategy
    From the beginning, you must find the line of communication adapted to your activity. Depending on your target and the products sold, you must think about an editorial line that incorporates notions of SEO and a commercial aspect.

    The definition of your editorial strategy begins with an analysis of the keywords used by your consumers. You have to find the terms that they will enter search engines, to find targeted phrases that will bring qualified traffic to your e-commerce. Also think of long-tail keywords (more than 3 words) because they are often less competitive and drain visitors of higher quality.

    When you have defined the terms on which you want to position your store, you must write the pages and the product sheets of your e-commerce. Remember to embed keywords in strategic places like headlines, subtitles, images, etc. Finally, the selected expressions should also be found in the different contents of your blog. It is also the latter that will bring you the most traffic and help you boost your visibility in search engines.

    4. Develop your community
    Why wait until your e-commerce is online to communicate on social networks? The sooner you ensure the communication of your project, the faster you will make the turnover. Start now to create profiles on social networks and publish articles on collaborative blogs to publicize your name and future products. When you open your merchant site, you will have already acquired some consumers.

    5. Create a blog to talk about your project
    This will help you to grow your community, but also to get your site up in the search engine results. Indeed, the blog will influence your SEO and, at the time of the official opening of your online store, you will already be positioned on strategic keywords. Then Bang! You can be your own boss and complete the works.

    6. Collect email addresses
    Prepare a prospecting file already by offering your readers the opportunity to subscribe to your newsletter. To ensure the success of your official opening, you can send all your loyal subscribers an email announcing the launch of the site and, why not, give a discount code to thank them for their support during the implementation of your project.

    7. Check the points of our checklist
    In another article, we proposed points to check before opening your e-commerce to users. This is the moment to consult this super checklist!

    8. Find a provider for creating your e-commerce
    To be certain that your merchant site is operational and you quickly earn profits, entrust its realization to a specialist. On Encoder, you will find many ecommerce developers willing to realize the shop of your dreams. Post your ad quickly with the outline of your specifications and find the ideal freelance!
    Tips to make your point of sale more attractive thanks to its showcase
    Your showcase is the image of your business. First contact with customers, she plays a key role in the purchase process. Today, Message in a Window has decided to give you its pro tips to attract customers and trigger the act of purchase.

    Build your universe
    The environment in which we are at the time of purchase influences us. It is therefore important to create your own universe through the theatricality of the point of sale.
    But what does it really consist of? The theatricality of the point of sale is a particular and even spectacular staging of the store’s product offering. The objectives are simple: trigger the act of purchase and bring and return the customer in your business. Creating a captive atmosphere is essential! For that it is important to look after the attractiveness of your store, and that says attractiveness, says showcase!

    Treat the presentation of your showcase
    Did you know, your storefront generates between 8,000 and 80,000 views a day depending on your location. When you know that the peak of a passerby lasts only a few seconds it is imperative to look after his shop window to capture the prospect’s attention and attract him to your business. At first glance, your future customers must be able to identify your offer, understand how it is different and why they should enter your store.

    Less Is More: Simplicity & Minimalism
    Too many choices kill the choice. Do not reveal all your weapons! There is no need to display all of your store in full view. If you overload your window, you smother and confuse the message you want to communicate to the passer-by. The idea is to favor only one to five different products and bet on a simple and uncluttered showcase, while placing your products at eye level.
    Conclusion
    With these 8 tips, you know how to approach your e-commerce project in broad outline. After finding a web partner to help you in this incredible adventure, you can start communicating about your future baby and then launch your business successfully!

  • 6 Things to Think About When Taking Your First Step onto the Property Ladder

    6 Things to Think About When Taking Your First Step onto the Property Ladder

    Buying your own home is a huge milestone in your personal life. Not only will it free you from having to pay rent, it will also provide you with a valuable asset you can sell on demand and make money from. Still, such decisions are not to be rushed by any means; after all, you’re making a substantial financial investment here. To ensure that everything runs smoothly, please make the following considerations before attempting to climb the property ladder:

    1.Borrowing money from your parents
    The fact of the matter is that you’re going to need a significant amount of money to cover the investment. If taking out a Home Loan straight off the bat isn’t quite to your liking, there’s an alternative – borrowing money from your parents. Without a shred of doubt, your parents will give you better terms than any commercial lender, including very low interest rates. More often than not, they will be rather lenient on you in case you have trouble paying it back during certain months.

    2.Calculating your costs
    Online calculators are a great way to figure out your monthly and overall costs. By using a Home Loan Emi Calculator, you will know exactly where you stand in terms of paying it back, allowing you to plan your personal finances in advance. In other words, these calculators will let you figure out whether you can afford taking out a loan in the first place.

    3.Checking out various regions
    As a general rule of thumb, the central city regions are the most expensive ones, while the countryside is much more affordable. As a trade-off, by choosing to live the country life, you’ll be much farther away from important city buildings, which means it’s going to take more time to get things done. But if you’re willing to live with that, checking out the countryside and other regions in your country is a good way to save a great deal of money on your investment.

    Getting your spending habits under control
    If you’ve been recklessly spending throughout your entire life, now is the time to rethink yours pending habits. If you’re constantly finding yourself making purchases on impulse or engage in a shopping spree over the course of a weekend, just think about how much money you’d save that could be better spent on other things. It could very well make the difference between being able to afford a new home or not.

    Taking shortcuts may not be the answer
    Understandably, you’re looking for ways to get onto the property ladder as soon as possible. To that end, you’re likely to take some shortcuts in order to reach that goal. But just think about it… is buying a tiny one-bed apartment truly a worthwhile investment, given that you may start a family soon and outgrow it before you know it?

    Being prepared for scrutiny
    Lenders typically look for indicators why someone may or may not be a suitable candidate for a loan. Therefore, it’s crucial that you portray yourself as someone who’s financially stable. If you have something suspicious on your financial records or transactions, try to come up with a reasonable and believable way to explain it.

    Conclusion

    These are the bare essentials to consider when taking your first step onto the property ladder. While there are others, they’re well beyond the scope of this article. Equipped with the knowledge you need to make a rational buying decision, are you ready to become a homeowner?

  • Quote Your PAN and Save Excessive Taxes on Fixed Deposit

    Quote Your PAN and Save Excessive Taxes on Fixed Deposit

    For any financial transactions above Rs. 50,000 PAN (Permanent Account Number) is mandatory to quote. Fixed deposit is not an exception in this rule. Many investors hesitate to give their PAN, fearing theft of identity or excessive taxation. However, it is the myth. In reality, quoting PAN makes you a compliant citizen and secures your investment. You can always save tax if the income is within your taxable limits. Read on below paragraphs to know the importance of PAN card when you open FD with any bank or financial institute.

    Security of Investment

    Every citizen of India has a unique PAN card. It is quite possible to have a common name and surname of the individuals. However, they cannot have the same PAN card. Hence, in case your FD is misplaced by you, you can safely and rightfully claim your money by presenting your PAN card if you have quoted it while opening the FD. On the other hand, chances of fraud and miss-representation increases when no PAN is attached with your fixed deposit.

    The rate of TDS (Tax Deduction at Source)

    Every financial institution is mandated to deduct the income tax at source for interest income, popularly known as TDS. If your FD has PAN information, mandated TDS rate is 10% of interest income. In the absence of PAN, TDS shall be deducted at 20% rate. Hence, you are liable to pay double income tax when you do not quote the PAN.

    Tax Credit

    TDS cannot be claimed back while you file your income tax return. On the other hand, FD with PAN is eligible for tax credit. You can also claim the refund of the tax deducted if your gross income is within the taxable limit.

    TDS Certificate

    If no PAN is quoted, no TDS certificate is issued. Hence, even if your tax is deducted, you cannot claim a tax deduction in any of your income tax return. It is similar to the situation when you have made payment,but you cannot avail the receipt of the same. Consider applying PAN if you do not have the same.

    Tax Exemption

    If your gross income is below taxable limit, you can claim exemption from TDS. However, such exemption is not valid if your deposit does not bear PAN. This rule is also applicable for Form 15 G or 15 H that are widely used to prevent TDS from the fixed deposit. Hence, even if you are not liable to pay income tax because of your lower income, you have to pay heavy tax at the rate of 20%, only because of the absence of PAN.

    Limit on FD Amount

    Without PAN, you can open a fixed deposit from Bajaj Finance with a very limited amount of Rs. 50000 or less. No financial institution is allowed to open FD beyond this limit without furnishing PAN from the depositor.

    Benefits of Furnishing PAN in your Fixed Deposit

    There are dead-ended implications of not furnishing PAN in your fixed deposit. On the other hand, furnishing PAN card gives you several benefits. First and foremost, there is no limit on the investment amount. You can invest the amount of your choice without any limitation, to make your fixed deposit. If your gross income is below taxable limit, you can submit form 15 G or 15 H to prevent TDS from your interest income. In the case of taxable income, TDS will be deducted at the rate of 10% only. You shall be issued TDS certificate,and the tax credit will also be reflected in your form 26AS.

    Moreover, by any chance, if you miss your fixed deposit receipt, you can request for duplicate receipt from the bank or NBFC by presenting your original PAN card. The bank will retrieve the details from the system based on your PAN card and issue duplicate receipt. Hence, your money is safe when you use your PAN card while making a fixed deposit.

    Applying PAN is Easy

    Nowadays applying PAN is easy and online. You have to furnish basic details about your identity, residential address,and date of birth. Consider applying for the same if you do not have it, and enjoy legitimate tax saving on your hard earned money.

  • Most Profitable Business Ideas to Work from Home

    Most Profitable Business Ideas to Work from Home

    There are many benefits of working from home, which include avoiding time wastage in traffic jams, saving on fare or fuel to get to the workplace, having flexible work hours, and not having to put up with annoying colleagues. Also, you could work from home on a part-time basis while still holding onto your 9-5 job, giving you a fallback plan in case you lose the job or need more money. Isn’t it also so exciting to work in your comfy pants and t-shirt, and to get paid for it?Here are some jobs you can do from home, whether you want to quit your 9-5 or make some extra money to supplement your main income:

    Tax returns preparation
    Many individuals and businesses lack the requisite skills to ensure that their numbers are correct at the end of the year. If you have the expertise to do tax returns, you can work for time-strapped businesses or individuals, or even for those who may not find it economical to engage a tax expert on a full-time basis. In preparing tax returns, you will help businesses be compliant and avoid incidents that may plunge them into tricky situations, resulting in hefty fines for non-compliance. Such incidents may make a business go into financial chaos and have cash flow issues, thus defaulting on its payments to creditors and thereby damaging its credit score. In the case of a business or individual with a bad score, they can work with experts to help them boost their score.

    Book keeping
    If you are a trained accountant, you can consider doing freelance bookkeeping from your house. But you cannot be a Certified Public Accountant if you are to become a freelance bookkeeper. With basic bookkeeping skills offered by most colleges, you are good to go. This job is vital for small businesses that may not be able to afford to hire a full-time bookkeeper, or their scale of work does not require a full-time bookkeeper. You can have a full-time bookkeeping engagement while working for several small clients.

    Online coaching
    You could be well skilled at something and have a lot of passion for it, too, like writing. You can turn that into a side job by offering your services one-on-one, or you can even do it as your main job. You need to develop a good system to put your skills and experience into delivering top-notch training. You can also build a community around the service you are offering and help the members to trust and help each other.

    Copywriting
    Do you have a thing with words to the point that you can come up with convincing copies for advertising and marketing agencies? Well, then you can use your talent and skills to make some money by writing captivating copies from the comfort of your home.

    Social media management
    Instead of spending so much time online and earning nothing, you can help start-ups and other business or organizations as well as individuals who want to build their online presence on various social platforms, like Facebook, Twitter, Instagram, and more. You need to establish your own social following and build a brand around yourself.

  • How is MCLR Calculated and Does it Make Home Loan Cheaper?

    How is MCLR Calculated and Does it Make Home Loan Cheaper?

    Living under your own roof or home offers a place to dwell and buying a home also comes with other benefits such as the value of the property appreciates with time. Many of us avail home loans to build or buy that home that you have always wanted. Home loans have become cheaper in recent times, thanks to a drop in the interest rate.

    One of the reasons why home loan interest rates are declining is because the change base rate to the Marginal Cost of Funds based Lending Rate (MCLR) has led to the fall in interest rates on housing loans. This new method was introduced by the Reserve Bank of India (RBI) from 1 April 2016, under which all banks in India follow or lend loans based on the MCLRs.

    MCLR Meaning

    MCLR refers to the minimum interest rate of a bank below which it cannot extend a loan. This rate is an internal benchmark for the bank. It describes the method by which the bank calculates the interest rate offered to an applicant. This is based on the marginal cost of funds, tenor premium, the cost to maintain the cash reserve ration and other operating costs.

    To understand MCLR better, it’s essential to understand what the base rate on the home loan is, which was in place before MCLR was introduced. The base rate is the minimum interest rate a bank levies a customer who wants a loan. No bank can offer loans below the base rate.

    Since banks shifted from base rate to MCLR from April 2016, the latter has become the benchmark lending rate at which banks offer loans. With the MCLR much lower than the base rate, home loans have become cheaper.

    How is MCLR Calculated?

    To learn how MCLR is calculated, you need to understand what marginal cost of funds, tenor premium, costs of maintaining cash reserve ratio and operating costs.

    • Marginal cost of funds: Sometimes banks borrow funds to meet their business expenses and pay interest on these funds is known as the cost of funds. Marginal cost is the additional expenses banks incur to fund investments or an asset.
    • Tenor Premium:it’s the amount of time left to repay the loan. Various loans have several tenures or time periods. If the bank, under MCLR, extends a loan with a higher tenor, then there’s a lot of risks involved. To make up for the risk, banks charge a tenor premium.
    • Cost of Maintaining the Cash Reserve Ratio: Banks, as per RBI guidelines, must maintain a certain percentage of their total deposits with RBI in current accounts. This percentage of deposits is called Cash Reserve Ratio (CRR).
    • Operating Expenses or Costs:Apart from the services charges, banks incur expenses in extending the loan to you. These expenses are known as Operating Costs or Expenses.

    So, Does MCLR Make Home Loan Cheaper?

    MCLR is offered in six or one-year options, which are the benchmark rate on floating interest rate loans. If you choose a one-year MCLR, then your home loan rates will be revised every year. Banks are extending home loans at lower floating interest rates and now is the time to switch or choose an MCLR based home loan. It may be noted that you need to consider the costs of loan transfer if you are transferring your home loan from a fixed rate to a floating interest rate.

    However, do watch out after moving to MCLR based loans, there’s always the risk of an incline in the movement of the interest rate before you reach the revision period. If the RBI hikes the repo rate, the rate at which it lends money to banks, MCLR too will increase accordingly. Also, ensure that under the MCLR based home loan, you have the option to pre-close or part pay the loan amount or transferring the loan to another lender does not attract heavy penalties.

    MCLR does make home loan cheaper if interest rates are declining. So, take the right decision which suits your requirement and not go by what the market reflects about MCLR.