Running an online business gives entrepreneurs an incredible chance to expand and scale their operations. While offline business requires a physical presence — offices, retail outlets, and kiosks in every location — an online business can operate entirely with virtual storefronts and digital real estate. Expanding is simple, and scaling businesses to new heights can be achieved without the need for expensive outlets and physical locations.Still, there are some major errors that newbie online entrepreneurs tend to make when they scale their businesses. From expanding too quickly to moving in all the wrong directions, the road to running a large-scale online business is paved with potential potholes. These five strategies are designed to help you achieve worthwhile business optimization, and take your business to new heights without endless difficulties and setbacks.1. Stick to the 80/20 Principle.
Pareto’s Principle — known as the 80/20 principle — dictates that 80% of your returns — in this case, business profits — will come from just 20% of your actions. Your goal in running an internet business is not to do as much as you can, but to achieve as much as you can. Focus on the ultra-profitable 20% that contributes to your business, and eliminate as much of the fluff as you possibly can.2. Whenever possible, add products to service businesses.
Service businesses are a good short-term model, but as a long-term earning option alone, they are not good. The main issue with service businesses is the lack of scalability and long-term earnings potential. By running a service business, you are essentially tying a value to your time and working to that alone. It is an effective use of your time to create a product, and use your time to amplify its sales. Which leads us into the next strategy.3. Package and sell your information.
Informational products are a major hit, especially in the online world. From guides on mastering online business to simple how-to sets for learning a new skill, informational products make up a huge percentage of online sales. If you have got skills that would otherwise only be valuable in a service business, why not package them into an information product that you can sell online?4. Focus on marketing before you start your business.
The make-or-break component of any online business is that marketing. The internet is crowded, especially for small online businesses, and there is no chance to survive without a large customer or client base that knows how to find you. The world’s most profitable companies invested in marketing before they expanded their businesses, and you should too.5. Set a value for your time, and don’t waste it.
You have set up your online business, invested in some manual and paid marketing presences, and have started to earn over $100 a day. The only problem is that it is taking almost 12 hours to do it. There will be times, especially when running an online business, that you will rack up a reasonably impressive daily earnings total. Ignore it. Daily totals are deceiving and are not an accurate metric for judging online business success.What is much more valuable is the amount of time that goes into that income. Set a minimum value for your time, and create an online business that gives you options on where to spend it. Sometimes services might be worthwhile, other times product-based work might be the best solution. Either way, set a minimum cost for an hour of your time, and design a business that allows you to earn above it.
Five Online Business Optimization Strategies
S&P 500 Rallies As U.S. Dollar Pulls Back Towards Weekly Lows
Key Insights
The strong pullback in the U.S. dollar provided significant support to stocks.
Treasury yields have pulled back after touching new highs, which served as an additional positive catalyst for S&P 500.
A move above 3730 will push S&P 500 towards the resistance level at 3760.
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Pfizer Rallies After Announcing A Huge Price Hike For Its COVID-19 Vaccines
S&P 500 is currently trying to settle above 3730 as traders’ appetite for risk is growing. The U.S. dollar has recently gained strong downside momentum as the BoJ intervened to stop the rally in USD/JPY. Weaker U.S. dollar is bullish for stocks as it increases profits of multinational companies and makes U.S. equities cheaper for foreign investors.
The leading oil services company Schlumberger is up by 9% after beating analyst estimates on both earnings and revenue. Schlumberger’s peers Baker Hughes and Halliburton have also enjoyed strong support today.
Vaccine makers Pfizer and Moderna gained strong upside momentum after Pfizer announced that it will raise the price of its coronavirus vaccine to $110 – $130 per shot.
Biggest losers today include Verizon and Twitter. Verizon is down by 5% despite beating analyst estimates on both earnings and revenue. Subscriber numbers missed estimates, and traders pushed the stock to multi-year lows.
Twitter stock moved towards the $50 level as the U.S. may conduct a security review of Musk’s purchase of the company.
From a big picture point of view, today’s rebound is broad, and most market segments are moving higher. Treasury yields have started to move lower after testing new highs, providing additional support to S&P 500. It looks that some traders are ready to bet that Fed will be less hawkish than previously expected.
S&P 500 Tests Resistance At 3730
S&P 500 has recently managed to get above the 20 EMA and is trying to settle above the resistance at 3730. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.
If S&P 500 manages to settle above 3730, it will head towards the next resistance level at 3760. A successful test of this level will push S&P 500 towards the next resistance at October highs at 3805. The 50 EMA is located in the nearby, so S&P 500 will likely face strong resistance above the 3800 level.
On the support side, the previous resistance at 3700 will likely serve as the first support level for S&P 500. In case S&P 500 declines below this level, it will move towards the next support level at 3675. A move below 3675 will push S&P 500 towards the support at 3640.
All About Exfoliating for Organic Skin Care
If the Bible were about skin care there would only be five commandments. Exfoliating is the second of the five commandments of skin care. Unfortunately, most people actively follow only one of these five commandments/rules; most people only do 20% of what they should be doing for proper skin care. Dermatologists, cosmeticians, and beauticians could, and have, for years given tips and recommendations for great skin care. However, most of these tips are irrelevant or are less effective if you are not fulfilling the five most basic rules, needs, necessities, requisites, and requirements for great skin. These five rules should be considered the foundation for any great skin care system. Like any foundation, they can be built and expanded upon (for example by the said tips by skin care professionals mentioned above) – you just have to get the basics covered first. We recommend that you use organic and all natural skin care products because the dangers of using harsh (potentially carcinogenic) chemicals on your skin are simply not worth the risk – however, even before you consider using organic skin care products you should at the very least be following the five commandments of skin care.ExfoliatingAlthough exfoliating is one of the most important steps in a skin care regimen, it is far too often completely skipped by people. This is a big skin care mistake; every type of skin will benefit from exfoliation at least twice a week. The reason that you need to continually exfoliate is because the lower layers of skin regenerate new skin cells and new skin which are pushed up to the top layer of the skin leaving dead skin on the surface layer. Exfoliation will remove these dead skin cells as well as any excess oil, dirt, makeup, dust, harsh chemicals, and any other pollutant left on the top layer of the skin after cleansing. Effective exfoliation leaves the skin soft, refreshed, and smooth. Effective exfoliation will also allow toners and moisturizers to penetrate deeper into the skin. A note of interest here is that in the same way that exfoliation opens up your pores for toners and moisturizers to penetrate deep into the skin it can also allow dirt, dust, harsh chemicals from skin care products, and other pollutants to penetrate deeper into the skin so you want to make sure you close your pores before going about your day. It has been suggested that men have softer skin than women over the lifetime of their skin likely because they shave everyday which helps to remove the top layer of dead skin which is a form of exfoliation in itself. These dead skin cells need to be gently exfoliated off the surface layer to prevent clogged pores.Just like cleansing, you want to make sure that you do not over-exfoliate which can cause surface irritation and redness and may cause your natural oils to spiral out of control. You also want to make sure you gently exfoliate in a circular motion. Do not scrub too hard; your skin is not a garage floor and should not be treated like one. Be very gentle with your skin to prevent premature aging. You may want to aim to exfoliate anywhere from twice a week to every other day. You will have to do some trial and error to find the right balance for your skin. Some people like to use an exfoliating cleanser to keep things simple but if you insist on having two separate products like we suggest it is best to cleanse before you exfoliate so that you can clean dust and grime off the top layer of skin before opening up your pores. Just like cleansing, you want to spend about three times longer rinsing your skin than scrubbing. Also, some people only like to exfoliate in the winter months or use different scrubs for the summer months and the winter months. This is because in the winter the dead skin cells on the surface can dry your skin out even more so than summer months because the skin is already prone to drying and produces less sebum in the summer. For this reason, at Giddy Organics, we offer scrubs that are designed for winter months as well as scrubs for summer months.