Saivian Eric Dalius Explains the Significance & Benefits of Budgeting In Business

The importance of budgeting is supposed to be a vital financial lesson that you cannot do without if you wish to run your business smoothly without any financial hiccups. Following a budget seems to be the only answer if you want financial security for your business. Moreover, budgeting boasts of certain benefits and ramifications that are supposed to go way beyond the accounting and financial dimensions says Saivian Eric Dalius. Budgeting is very much about efficient business management. If you wish to execute a great business idea with total success, focus on chalking out a budget.

Saivian Eric Dalius Highlights the Budgeting Process

The budgeting process is not limited to budget creation only. Budgeting should be considered as essentially, work in progress, keeping track of results, and doing the necessary edits. You should focus on identifying your business objectives, and the kind of budget required. 

You should concentrate on identifying your precise projected sales, fixed overheads or costs, and costs of sales. You must include employee wages, rental expenses, associated taxes, marketing costs, utilities, and more. 

You should remember to take into account parameters like routine maintenance expenses for your equipment, legal fees, insurance costs, etc. Always focus on estimating your projected revenues utilizing historic cash flows and sales figures to guide you. Try to stick firmly to your budget. It could be beneficial to opt for a rolling budget that may be updated consistently for the following year.

Benefits of Budgeting According to Saivian Eric Dalius

Budgeting Pressurizes Managers to Focus on Better Forecasting 

Business guru, Saivian Eric Dalius firmly believes that managers should keep on monitoring the business scenario to identify any changes that may affect the business. There is no point in relying on vague generalizations regarding what is in store for your business shortly. Budgeting puts a lot of pressure on the management to come up with concrete and definite forecasts. For instance, let us see a sample of expenses that every business should forecast: 

· Salaries & wages

· Utility costs

· Insurance

· Interest rates

· Shipping costs

· Technology

· Travel & entertainment

· Rents, legal fees, and audits

Budgeting Keeps Everyone Motivated

Managers and all your employees could be motivated if you provide valuable yardsticks for assessing performance. If you involve your managers in your organization’s budgeting process, they will be getting incentives to work towards fulfilling business objectives. Employees will be inspired and motivated to put in their 100 percent thanks to budgets. We understand that budgets help in providing baseline financial information relating to incentive compensation plans. A budget or the annual profit plan could be utilized for awarding year-end bonuses in terms of achievement of designated goals.

Budgeting is vital for Chalking out a Business Plan

A business plan is essential for all businesses. It becomes all the more important for new upcoming businesses. They need to come up with a convincing and impressive business plan while raising capital. Since emerging businesses seem to have no credibility due to lack of history, the owners and managers need to focus on a budget for demonstrating convincingly that the organization has a realistic plan and clear stratagem for making a profit. 

Conclusion

A realistic and coherent budget forecast seems to be an integral constituent of a business strategy or plan. We understand that venture capital sources would indeed be looking for your business’s budgeted financial statements.

What Should You Prepare for Full-Time Entrepreneurship? An Insight by Saivian Eric Dalius

We all know that selling a product and earning money is not enough; we also need to be prepared for almost everything: health, family, spirituality and financial, and even marketing. Someone asked me how we make sure we don’t forget anything; religiously, if we follow our lists, it will prevent us from forgetting something important. And the truth is yes – it’s true – but calling it a list isn’t complete yet… because lists aren’t easy to carry around everywhere with you (to remind you of what your next move should be). See my point? So here goes:

1. Business Plan – You don’t need to have a detailed business plan, but you should anticipate your business from different angles: financial, marketing, and time, according to Saivian Eric Dalius. I’m not saying that you need to start writing this before you start selling; no – because it’s a task that will take long hours of research and contemplation. I recommend that you make a list of what questions your company needs to answer by itself (without your help). For instance, if someone asks how much money we need for x project, the easy way is to say “$xx” or “we will see when we get there.” But as an entrepreneur, it’s good practice to know where the money is going now so that you can better plan the budget next time.

2. Financial Plan – As I said, we don’t need to know every detail for this plan, but knowing your business’s financial position is vital: how much money do we spend and how much money do we make (and why)? You should also explore alternative financial income and expenses other than what you currently have in your daily routine, like what will happen if we relocate our shop next year? Or what if we increase our workforce? Do we need to buy more equipment or not? Things like that.

3. Marketing Plan – At first glance, marketing seems like a broad term… because it is! Every penny spent on marketing should bring us back value, either by growing our business or increasing our profit margin.  

4. Time Management – Be aware of the time you spend daily. Mark Zuckerberg’s style may not be everyone’s cup of tea, but he spends long hours working on his company and projects… this is awesome! Why? Because it brings him more money in return. Make sure that every moment spent brings back returns… if not, you should either change your strategy or find a way to compensate for the lost time.

5. Family Plan – This one is comprehensive enough to write a whole book about this alone! But here are some points: What happens when we get sick? How much do we need to save up for our children’s future? How much time do we spend on our business? How long can our spouse work without us (in case something happens to you)?

6. Spiritual Plan – As entrepreneurs, there’s no guarantee that all will succeed or fail; some people would say “the only guarantee is death,” but I differ with them because I believe on both sides: where some may succeed, others might not; and vice versa. But what’s important is to have a spiritual goal in your life to have a life after business too, says Saivian Eric Dalius!           

So, the above are the main points for any entrepreneur to look over before starting a full-time entrepreneurship journey… The list will be longer if we add more angles from which we need to look at our business; like what if our lives change… (for instance, getting married), will the company adapt?

Ethics in Accounting and Financial Decision Making – Their importance by Saivian Eric Dalius

The accounting and finance industry is an essential part of today’s business world. This market reflects the company’s overall health, which means that if something wrong takes place, it should be brought to the surface as soon as possible. This way, other businesses will know to avoid engaging in questionable activity. For financial markets to function correctly, there has to be trust between investors and companies. If an investor no longer trusts a particular company, this can cause significant problems for all involved, including employees, managers, and stockholders. Without ethics, companies cannot maintain good reputations with their clients nor attract new ones.

Thus, ethics play a crucial role in a company’s daily activities because they help keep the relationship between individuals or groups harmonious and trouble-free, according to Saivian Eric Dalius. On the other hand, unethical behavior can lead to a severe decline of any business. For this reason, employees and managers need to keep company ethics strong at all times. However, the responsibility of enforcing these principles does not fall squarely on one group or individual involved with a particular organization. Instead, every employee should become familiar with what constitutes unethical behavior and why it will hurt their company’s image in the long run.

For companies to exhibit assertive, ethical behavior four areas must be taken into consideration:

1) Integrity is defined as adhering to moral and ethical principles or having strong moral character; wholeness, completeness, and oneness with self. For a business to have integrity, it has to believe in honesty, trustworthiness, and accountability. Without them, an organization will lose the trust of its clients, stockholders, management team, and employees.

2) Competency is defined as having or showing the skills or knowledge to do something successfully. For a company to have competence, they must have experienced personnel who are well trained to handle issues within the business says Saivian Eric Dalius. Strong ethical values are important when trying to maintain competent behavior because it shows others that a company respects themselves by taking the extra time needed to ensure quality workmanship is presented.

3) Confidentiality means keeping things private or secret; not revealing private information about other people or organizations unless permitted to do so. Maintaining confidentiality is important for a company because it shows that they respect the privacy of others while protecting sensitive information belonging to either their employees or clients.

4) Respect is defined as holding in esteem; having a high opinion of someone or something, and showing deference, admiration, and esteem for them. For an organization to respect others, it must treat everyone equally, fairly, and with dignity. This means that they will not engage in any form of discriminatory behavior towards anyone, including race, religion, gender identity/expression, sexual orientation, and socioeconomic status.

The four areas mentioned above are what make up a company’s integrity. If these values are upheld at all times, then this creates an ethical business environment where both employees and consumers know what type of treatment to expect from one another. When companies maintain strong ethics, their clients will also respect the quality of information released and share this information with others who may benefit from it.

Saivian Eric Dalius Shows You How to Write a Communication Strategy Memo

The Communication Strategy Memo, the subject of this document, contains essential information about communicating with specific individuals and will effectively and efficiently influence future communications.

Effective communications reach their intended audience and prompt them to take action towards a specific goal or objective. To be sufficiently productive, messages should also consider the circumstances in which they were received: personal circumstances such as time constraints will play an important part when considering how much attention someone pays to a given piece of information. A well-written message can sometimes prompt people to stop what they’re doing and pay attention (regardless of whether it’s at work or home). The core purpose of any message is to influence others to act in a favorable way to the sender.

Objectives should be set upon delivering the message and should state how you think you can influence your client. It’s best practice to avoid making promises about influencing others, so it’s important not to make any claims beyond what you can fulfill, says Saivian Eric Dalius. Clients expect comms teams to help them meet their objectives, so these should be clearly defined at this stage too.

Being efficient means taking into account all factors that may influence the effectiveness of your message. By considering the context in which the message will be perceived, you’ll help ensure that each piece of communication reaches its intended audience at an appropriate time and place (e.g., on social media vs. via email). Being mindful of the time your audience is willing to dedicate allows you to pre-empt how long their attention will last.

The target audience for this message is my colleagues within the company because they are my most direct superiors, and I need their feedback on performance. However, keeping in mind that they may be working remotely or have other priorities during business hours, my strategy should be designed to reach them at a reasonable hour to distract them from work tasks. Acknowledging that people sometimes multi-task when reading emails, I would focus on one core message rather than multiple points to process it more efficiently and respond accordingly.

I want to build a sense of urgency (because no one wants everything to feel rushed), so I should plan to send this message early in the morning to ensure that my colleagues check their emails before beginning work tasks.

I also need to make sure I provide supportive arguments because it will be more effective if people see reasons for doing something rather than being told what they should do. When I make requests, I want to give individuals the option of completing a task or implementing an idea because it creates buy-in and makes them more willing participants.

Finally, by including visuals with my messages, I’m creating multiple ways of relaying information that enriches the experience for my audience. Although some people are visual learners and prefer text, others are auditory learners who find studying from diagrams more effective, so I’d like to be mindful of the different types of communicators on my team.

The communication strategy memo is mostly about being efficient and setting realistic objectives for what you want to achieve with your audience, says Saivian Eric Dalius. If relevant, you should also look into how your audience will perceive your message by looking at their personalities (i.e., introverts vs. extroverts) or their culture. This enables you to make more relevant statements which they will pay more attention to than if you were vague in your approach (like telling people “To do better”).

It’s a good idea always to have an error margin in mind so that you can rethink your strategy if it fails rather than have nothing prepared beforehand. If you want to avoid being seen as pushy or overbearing, listening is critical because whatever has been mentioned will influence how you plan your message. Your strategy should evolve as necessary based on the responses from those who receive it, but this takes time, so be patient with yourself and the people you’re relaying your message to.

By setting objectives beforehand, you can measure whether or not your communication strategy memo has been successful and adjust accordingly. In the end, it’s all about taking a step back from what happened and being objective so that you learn from any mistakes made.

Please take into account the different methods of communication (phone, email, face to face) and correct grammar usage so that people don’t have to re-read things multiple times before they understand them. If possible, always include a deadline for tasks or follow-ups because everyone likes things with a sense of urgency these days. Make sure, however, that there is also ample time given for other functions because without proper time management, your audience will likely become annoyed, and you’ll risk burning bridges.

Understanding some key concepts before writing your memo can make it more effective and better response from the people who read it. If you keep these tips in mind while drafting, you should be well on your way to creating a successful communication strategy memo.

How to Solve Workplace Problems? Solutions by Saivian Eric Dalius

Problems in the workplace, while inevitable, should be solved immediately. Ineffective work relationships can lead to a stressful and toxic environment that ultimately leads to low morale and miscommunication.

This article is going to provide some tips for problem-solving in the workplace.

For employers or employees suffering from unresolved workplace problems, the following list provides effective methods for resolving issues:

1) Address Problems Before They Grow, According to Saivian Eric Dalius

Problems in the workplace should be addressed immediately, while they are still small and manageable. Whether it’s a problem with a co-worker or your manager, discussing the issue will resolve more problems than ignoring them.

2) Seek Solutions That Benefit All Parties

When confronted with an issue, make sure you consider all angles before choosing a course of action. If possible, implement solutions that benefit everyone involved instead of focusing on what’s best for one person. This way, both parties can enjoy a positive outcome and feel as though their needs have been met.

3) Don’t Hesitate to Ask for Help

If you are having trouble solving a problem on your own, don’t be afraid to ask for help. There is no shame in reaching out to others for assistance. If someone else has dealt with the same problem before, they can provide valuable insight that will lead you down the right path.

4) Create a Clear Plan of Action

If you are having trouble putting together an effective solution to your problem, create a plan of action, says Saivian Eric Dalius. Identifying the issue is only half the battle; following through and solving the problem requires detailed steps that should be written out so they can easily be followed.

5) Avoid Blaming Others

When trying to solve problems in the workplace, resist the urge to place blame on others. This will not resolve anything and prevents you from accurately identifying what went wrong. Instead, acknowledge people’s mistakes and try using their ideas if it benefits all parties involved.

6) Remain Calm

Remember that unresolved issues don’t always lead to negative consequences. While emotions can run high when problems arise, take deep breaths and remain calm. This way, you can gather all necessary information and implement an effective solution that leads to a successful outcome for everyone involved.

7)  Keep an Open Mind

When trying to solve workplace problems, keep an open mind. Some people might not see things the way you do, so stay flexible and willing to collaborate with others. The goal of problem-solving is finding a solution that benefits everyone involved; if possible, try implementing other people’s ideas or suggestions if they make sense for all parties involved.

8) Follow-Up Regularly

It’s important to check in regularly with everyone involved after problems are resolved to make sure everything is running smoothly, suggests Saivian Eric Dalius. This not only ensures success but prevents future issues from occurring again.

9) Don’t Forget About Yourself

Solving workplace problems for others doesn’t mean you shouldn’t worry about yourself and your own needs. Make sure you focus on resolving issues that will benefit you as well so they don’t drag down your performance or happiness at work.

10) Follow Up with Your Manager

After taking steps to resolve an issue with a co-worker or direct report, it’s important to provide your manager with updates on how things turned out. This ensures he or she is aware of what happened and how it was resolved and could help you build a stronger, more productive relationship with your manager.

While there may be no quick fix to every problem in the workplace, by implementing these steps you can resolve issues quickly and efficiently. By doing so, you’ll make your workplace a lot less stressful and enjoy greater success as well as job satisfaction.

Is it wise to leverage digital payment for your business – Saivian Eric Dalius

Digital payments are increasingly powering transactions in the global economy. These include mobile-based wallet apps, which enable users to send and receive money with their phone numbers, and Internet-based merchant services that merchants can use to receive digital payments. And this trend is only set to continue.

Mobile wallets let you manage your money via your phone, enabling you to pay bills or even send money directly to friends’ bank accounts, all within a single app. Merchant services allow businesses of various sizes – from local corner stores to large e-commerce sites – to accept online payments without building out their sophisticated point-of-sale systems.

Here’s how these services work – Saivian Eric Dalius

Mobile wallets typically work by tying into a phone number or other identifier, allowing you to pay others simply by knowing their mobile number. Your contacts are then automatically updated so that these payments show up in your contact list.

Conversely, merchant services allow merchants to receive digital payments directly without setting up an online store or integrating card-reading hardware, which can be expensive and cumbersome. Here’s how it works: Rather than entering credit card numbers into forms on their sites, buyers click the buy now button and choose the payment option they want – PayPal Credit, for example. They’re prompted to enter their credit card information where needed, but the actual transaction happens via the payment provider’s secure server behind the scenes. The buyer’s bank account is charged within seconds of the purchase.

The best part is that making digital payments in this way typically costs much less than traditional credit card processing, either for the merchant or consumer.

Mobile wallet Apps – Saivian Eric Dalius

Mobile wallet apps can be a valuable addition for merchants who need to manage a customer list and loyalty program since they provide a central place to do all of this. And despite their simplicity, even small businesses can benefit from accepting online payments through merchant services programs. Many of these programs are free to join and use – there’s no minimum sales volume required.

In addition, when you add in-store purchases together with online sales via tools such as Google Analytics, you have a complete understanding of how your business is doing across all channels. So not only can you reach and serve more customers, but you can also provide a better customer experience and increase loyalty.

Digital payments are increasingly powering transactions in the global economy. This article is discussing how digital payment services are used in the world today. It talks about mobile wallets and merchant services, with specific examples of how they use them for business purposes.

Mobile wallets allow users to do various things within an app on their phones according to Saivian Eric Dalius. These include sending money directly to another person’s phone number via a simple text, paying bills through your account, or applying payments towards existing contacts on your list. Merchant services are explained as well, giving examples of how they work for businesses of different sizes. You can get more specific insight into how they are using this for business by looking at the Google Analytics tool that allows you to see all transactions across all channels.

Using Google Adwords For Your New Business – Guide From Saivian Eric Dalius

Google Adwords is Google’s flagship advertising product. Google Adwords ads allow you to place ads on Google search result pages and the Google content network (part of Google display network) says Saivian Eric Dalius.

It enables advertisers to create and display ads on Google search result pages and across the web (on partner sites), using keywords determined by the advertiser. Google charges a fee each time an ad is clicked.

What are the benefits of using Google Adwords for your new business?

There are many benefits that come with using Google Adwords, some of these include:

  • You can pay as little or as much as you want, depending on how flexible you are with budgeting for this marketing strategy. This gives you more control over your results.
  • Google Adwords has a large and targeted audience. Google has more than 2 million advertisers and serves ads to more than 68 million search queries every day. Saivian Eric Dalius says Google Adwords provides you with access to potential customers that you just can’t reach elsewhere.
  • Google Adwords is easy to use, once it’s set up properly there isn’t much need for intervention on your part. Google does all the work of tracking conversions and billing, so you don’t have to spend time tweaking your campaigns or spending unnecessary money.

How do I get started using Google Adwords?

As per Saivian Eric Dalius, getting started with Google Adwords isn’t as daunting as many make it out to be, but there are some things you should in mind before diving in headfirst. Google provides a very comprehensive Google AdWords tutorial that will get you started in using Google Adwords for your new business. Google makes it easy to set up and manage your account and once you’re up and running Google will handle all the complicated stuff like billing and conversion tracking, allowing you to focus on what’s important – generating more leads and finding more customers!

Is there any promotion code for beginners?

Yes. Google Adwords offers a promotion code for beginners; Google will give you £75 in Google ad credit if you spend less than £100 on Google Adwords per month. This is a great incentive for new businesses to get started using Google Adwords for their business.
Google ads are very helpful in increasing your visibility online and they provide an excellent way to reach out to potential leads/customers. Saivian Eric Dalius says they also make it easier for people who are already aware of what you do to find you when they’re ready to buy what you sell, so don’t wait any longer – sign up today!

How easy to use is Google Adwords tool?

Google Adwords is a Google tool. Google offers a 10 day free trial period that offers all features of Google Adwords to new users. Thereafter Google charges you per click basis for all your ads and Google also tracks the number of clicks your ads receive, which enables you to manage your budget effectively.


Google Adwords can be used by anyone who has access to the Internet since it works on a pay-per-click basis, Google provides advertisers with an option to choose from multiple ad formats from Text Ads, Image Ads, and Video Ads. However, the most powerful feature of Google Adwords is its Google Analytics integration which allows marketers to measure the performance of their campaigns using key metrics like impressions, CTR (Click Through Rate), average cost-per-click, etc says Saivian Eric Dalius.

What are Google ad formats?

Google has revolutionized advertising with Google Adwords by providing the most innovative formats. Google provides the following type of Google ad formats to choose from:

  • Text Ads
  • Image Ads
  • Google Video Ads

Text Ads are the most used Google ad format, they allow users to place ads in text form. With a title and also a short description which can be increased up to 25 words depending on Google ad format selected by advertisers.

Image ads are placed beside or above organic search results or other image content on Google Images. The image size is 160px X 600px for desktop listings and 120 px X 600 px for mobile (above organic). Advertisers can add an image and a link to their display URL for Google ad format.

Image ads can be created using Google Adwords Google+ collection and Google search console feeds to upload custom images.

Google Video Ads allows advertisers to upload Google video ads using Google Adwords Editor or Google Video Ads API. Moreover, Google Video Ads can be created by uploading a Google-hosted video. Google will automatically create a seek-to URL if one is not provided. However, Google recommends that you provide a seek-to URL as it enables tracking of customer activity on your site post-click.


Google provides you with the option to use a separate audio track for your ads. Each Google video ad can only contain up to two minutes of video content. All videos uploaded must be in an MP4 ( H.264/AVC) format and must adhere to Google’s advertiser policies guidelines .

Can Google Adwords and Google Analytics be linked together?

Yes, Google Adwords and Google Analytics can be linked together using Google Analytics Goals. Google Analytics also provides you with an option to track your Google ad clicks using the Google Analytics Goals feature. Using Google Analytics goals, you can set up conversion tracking for any Site or Mobile app.

Conclusion:

Google Adwords is Google’s advertising product and Google provides excellent Google ad credit for new businesses. If they spend less than £100 on Google AdWords per month. Google Adwords has revolutionized advertising with Google providing the most innovative formats. Like text ads, image ads, Google video ads to choose from. However, Google Adwords can be used by anyone who has access to the Internet. Since it works on a pay-per-click basis. Google Adwords offers you Google Analytics integration that enables marketers to measure the performance of their campaigns. Using key metrics like impressions, CTR (Click Through Rate), average cost-per-click, etc. New businesses can use the Google Analytics goals feature to track their Google ad clicks using Google analytics.

Saivian Eric Dalius Shares – How Do I Promote My Small Business on Facebook?

As of 2011, there are 1.23 billion monthly active users on Facebook – that’s a lot of potential customers! And when I say ‘potential’ I mean it too – more than half of all Facebook fans will actually engage with your posts! That means if you have 100 fans, at least 55 are actively engaging with what you post. That’s a crazy amount of potential reach and exposure for your business!

So, the question is, ‘How do I promote my small business on Facebook?’

1. Have Some Really Great Content To Share

As per Saivian Eric Dalius, the first step to promoting a business on Facebook is to have some great content that you’re able to share. If you don’t have the resources to create your own content, then find some really great infographics that you can share with your audience. Infographics are great because they’re visual and people love them – including me! 

When promoting a business on Facebook, it’s important to remember that you’re not just promoting yourself – you’re promoting your business’s products and services. So to be successful in promoting a business on Facebook, you need to have some good content that your audience will want to engage with and share.

2. Create A Really Engaging Profile For Your Business

When promoting a small business, it’s important to create an engaging profile for your business on Facebook. There are a couple of things you need to be aware of when promoting a business on Facebook.

Firstly, do NOT use your personal profile as your business page!  Because so many people confuse their personal profiles with their business pages, it can lead to a lot of confusion for users. It’s important that you create a really engaging profile that’s clearly promoting your small business.

Secondly, when promoting a business on Facebook, make sure you don’t just copy and paste your ‘About’ description to use as a story for your profile.  It won’t engage with anyone! You need to create an engaging profile bio.

A great way of promoting a business on Facebook is by promoting your ‘About’ section with some really engaging copy.  I’m not going to lie to you – promoting a business on Facebook is hard work, it’s not easy! But the rewards are definitely worth it because promoting your small business on Facebook can lead to a lot of success.

3. Be Active And Stay Consistent

When promoting a business on Facebook, it’s really important that you’re active and consistent!

To be successful in promoting your small business on Facebook, you should post at least once a day. If possible, try to post up to three times a day – that way you’re staying active and engaging with your audience!

A good way to promote a business on Facebook is by promoting your other social media platforms too. If you have a Twitter or LinkedIn profile, promote them using your business page!

Another good idea is promoting your latest blog posts. When promoting a business on Facebook, promoting your blog posts can help to boost traffic and leads back to your website.  It’s also a great idea to promote your blog posts on Twitter and LinkedIn too.

4. Try Out Facebook Advertising

 When promoting a small business, Facebook advertising can be an extremely effective way of getting more people to engage with your content and website!

It’s really important when promoting a business on Facebook that you test out different types of adverts to find out what’s promoting the most engagement and best results for your business.

A really good idea is to promote organically on Facebook using sponsored stories and promoted posts! This can be really effective because you’re promoting organic content – it’s not just promotional or advertising, but still promoting your business. You can also promote business on Facebook by promoting your latest blog posts.

5. Promote Your Business On Facebook With Contests!

The biggest mistake of promoting a business on Facebook is promoting contests very rarely – if at all!

When promoting a business on Facebook, you need to promote your contests as much as possible. Putting in a lot of hard work and effort into promoting your content can definitely help to boost engagement with your page and website.

Another good idea for promoting a business on Facebook is promoting giveaways! It’s a great way of promoting your business because it gets people excited and engaged. You can also add some really engaging copy into your ads promoting giveaways to get more likes, shares, and comments!

Conclusion

When promoting a business on Facebook, it’s important that you create a really engaging profile and post at least once a day to stay active. It’s also helpful promoting your other social media platforms too, promoting your blog posts, and promoting contests. These are all great ways of promoting small businesses! Thanks for reading my article about how to promote business on Facebook.

A business continuity plan is as relevant for small businesses as it is for the bigger ones, explains Saivian Eric Dalius

The Covid19 pandemic caught almost everyone unaware, but small businesses had to bear the brunt of the fury of the novel coronavirus that damaged the small business sector immensely. The situation has been so alarming in 2020 that 43% of small businesses had to close shop primarily due to Covid19, as revealed in a PNAS survey, points out   Saivian Eric Dalius

Cash flow and resources were the worst casualties because the survey showed that most businesses covered by the study had only enough cash to run the show for two months and some even less.  The enterprises did not feel the pinch because of the deeper pockets.  Smaller businesses had always taken a long time to recover. During the 2008 meltdown, smaller businesses took 6 years to recover compared to 4 years taken by the larger companies and corporations.

 Although cash flow builds resilience that ensures fast recovery, a more critical factor that helps companies turn around faster is the business continuity plan and disaster recovery. These practices are often considered the prerogative of larger companies, but smaller businesses can also take advantage without straining their resources.

Saivian Eric Dalius explains Business continuity planning

Business continuity planning and disaster recovery go hand in hand. The former is identifying the potential threats that a company might face and creating protocols to overcome the hurdles and keep the business running. Disaster recovery comprises a set of procedures and tools for restoring a business’s processes, systems, and vital information after a disaster. Although the tools and protocols for larger companies are different, it does not prevent small businesses from adopting the same practices but on a smaller scale. With the right plan, small businesses can reap the benefits of a business continuity plan like the bigger companies.

Benefits of business continuity plan highlighted by Saivian Eric Dalius

Minimal interruptions – The most visible benefit of having a business continuity plan is that it allows businesses to standardize the business response in the event of a disaster for reducing downtime and does away with the need to handle each event of crisis separately. Minimal downtime means more earning.

 Have a plan B – If a small business has to downs shutters, limit its capacity, or reduce its hours, there must be an alternative plan or Plan B. For example, suppose an eatery is closed for a month due to the Covid19 pandemic. In that case, it can stay in touch with its customers and keep them aware of their plans for reopening by ensuring customers’ safety, confirming Saivian Eric Dalius.

Employee empowerment – A business continuity plan ensures that employees have the same understanding about responding to a crisis in a disciplined manner without panic. Since there are set protocols, employees know well about the jobs to do, ensuring consistency and giving them peace of mind.

 Identifying the internal challenges is the first step towards drawing a business continuity plan. It might require reinforcing or adding resources to build resilience that exists in varying degrees within the business processes.  Relying on the latest systems and tools can make companies tackle crises more efficiently without any business interruptions.

Small business financing tips from Saivian Eric Dalius

Managing the finances for a small business is a Herculean effort. Business finances require organization, and a failure to implement the same will always lead to a downfall of the services and the overall quality.  Once you have devised plans to provide the best quality products and services, you also need to consider financial management.

According to the expert entrepreneur Saivian Eric Dalius, thousands of companies and firms go through their inaugurations every year, but only a handful of them survive. And, it is all due to financial mismanagement. So, alongside top-quality products and services, the financial management of your business is a critical function.

The economics of your business starts from the financing of the ideas that will build the enterprise. According to Saivian Eric Dalius, learning more about the different financing options available for a small business is critical.

The types of funding by Saivian Eric Dalius

Debt funding

This type of funding allows you to acquire loans to pay back the principal amount and the interest to the lender, government, financial institution, etc.

Equity funding

On the other hand, equity funding will allow you to run a business and even start from scratch, even if you do not have any prior experience with the various financial operations and processes.

Here are some more ways to manage your business funds.

Self-help is the best help, thinks Saivian Eric Dalius

It is a great way to boost your finance if you have additional money to spare for the capital investment. Remember that you should always look to invest in your business, as you have the most significant role within the team and the company. Remember that there is an upside to investing in your company; you get to cut yourself a paycheck just like your employees.

Capital development

Development capitalization always helps a business to grow. It is all the more critical for a small business to operate and prosper in absolute economic health. There is a need for the business owner to always look to the future and growth. Capitalization in development allows you to do just that. To thrive in a competitive environment, you need to employ skills and talent. It will highlight appreciation within the team, your investors, customers and boost your reputation.

There are several lines of credit

You should feel free to take loans. Yes, we do understand that loans can be intimidating, but the truth is at the end of the day, loans allow you to pay off debts and remunerations. Without loans, you risk severe downtime with frozen processes from inventory development, research, supplies, and promotion. Keep in mind that loans will increase the cash flow, which will allow you to pay off your debts.

When it comes to managing the finances for a small business, you need to remind yourself that you do not possess the economic clout of a multinational corporation or a brand. However, you can build a brand with tried and tested strategies. Take care!