Training

Your Employees Are Your Greatest Asset. Are You Letting Them Down?

running a business

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There are a lot of things that you need to consider when running a business. It can often feel as though you’re keeping a whole lot of plates spinning all at once. In fact, trying to do that can often be incredibly overwhelming, to the point that a lot of people struggle to manage it at all. That’s where your employees come in. Out of all of the assets in your business, there’s no denying that there are any more important than your employees. Not only are they able to take a great deal of the weight off of your shoulders but they can also help to guide your business, as well as keeping it running smoothly. Of course, that’s only possible if you’re able to support your employees as best you can. If you’re not able to create the best possible environment for your employees, then you’re never going to be able to get the most out of them. With that in mind, here are a few ways to make sure that you’re not letting your employees down.

Training

Your employees might be the most important aspect of your business, but they’re not going to be able to do anything if they haven’t been properly trained. After all, every role within any given business requires a whole host of skills that not everyone is necessarily going to have. Whether it’s OSHA training, training in a specific piece of software, or simply improving their ability to communicate with other members of staff, if you’re not providing frequent and valuable training for all of your employees, they’re going to be woefully unprepared for the tasks ahead of them. The time and money required to train your employees are likely to be pretty negligible when compared to the benefits that training will provide.

Flexibility

There was a time when most businesses were defined by a pretty rigid adherence to strict schedules. However, over the last several years more and more research has come out demonstrating that this might not be the ideal solution. In fact, rather than forcing employees to all work specific hours in a single place, being flexible with when and where they work can often improve your business significantly. Being able to fit work around their personal lives can often make for much happier and more motivated employees, and offering things like remote working means that you can find the best possible people for any given job without having to limit yourself to those who are local to your business premises.

Appreciation

One of the most common mistakes that a lot of business owners can make is that they assume that, because their employees come away with a paycheck at the end of each month, that means that they will always be as motivated and happy as possible. However, your employees are not machines. You can’t just put money in and expect great work to come out. They are human beings with needs and limitations. This means that you’ve got to be able to show them an appreciation for all of the hard work and effort that they put in. Even simple things like offering bonuses when your employees go above and beyond the call of duty, or even simply recognising some fantastic work really can go a long way to helping your employees feel more motivated and satisfied at work.

Communication

Communication has always been the bedrock of any successful business. Without it, you’re almost certainly going to fall into the trap of your left hand having no idea what your right hand is doing. If you’re not able to effectively communicate what you want to your employees, they’re never going to be able to get things done. Sure, employees should be able to take the initiative but leaving them entirely to their own devices is going to make life harder for everyone.

It’s often tempting to feel as though, as the owner of the business, you’re the most important person in it. And sure, there’s a degree to which that might actually be true, but you need to be sure that you understand just how important the impact that your employees have in your business really is. In fact, your employees could well be having more of an impact on your business than you realise.


Exploring a Few facts about Low Spread Forex Brokers

When you start trading in the Foreign Exchange Market online, you will find that the Forex brokers out there won’t charge you. Even the conventional forex brokers will not charge you. However, they are not offering services for free. They actually make money by charging a “spread” from the trader. So, what exactly is this spread?

What is a spread? What should you know about it?

The spread refers to the difference between the bid price and the ask price involved in your trade. The broker adds the spread with the price of trading and keeps it as his trading fee. The broker’s fee, thus, is often considered to be a hidden commission. All the brokers have these hidden commissions. So, if it is very important to find a low spread forex broker before you start trading. How exactly can you zero in on a low spread forex broker? Read on to know more.

Choosing a Trading Platform: What should you know about it?

There are several online trading platforms offering trading opportunities to experienced traders and rookies. You should be able to identify the low spread trading platforms from there and go on to select one among them. Here are a few tips which might help you.

Identify currency pairs which have low spreads

The top currency pairs— GBP/USD and EURO/USD typically have the lowest of spreads around. Now, different brokers will offer different spreads on different types of accounts. If you are trading with a low spread Forex trading platform, it might not exactly offer very good mini trading opportunities and might carry higher spreads than a full contact account does.business

Check out if the trading platform is transparent enough or not

An ideal low spread trading platform should be transparent enough to let you know about the actual prices so that you have a clear idea about the spread. The trading platform should show you live prices instead of indicative quotes.

Do you know how the spread works?

Make sure you have a thorough understanding as to how the spread works. For instance, if you are interested in selling a currency pair (having a 3 pip spread between the Bid Price and the Ask Price) immediately after buying it then you would be down 3 pips. This will happen even if you are selling without making a profit or loss (i.e. when the market price is exactly the same when you are buying and selling).

Does the trading platform help you trade on a fractional basis? Here’s what you would want to know

A low spread trading platform might typically enable forex traders to trade on a fractional basis. If you want you can trade 325911 units instead of full 300,000 units. This turns out to be very helpful for traders who are interested in risking in certain percentage their balance on each of the trades.

Choose a user-friendly platform

No matter which trading platform you end up choosing you should ensure that it is easy to use.


Forex: Is It the Right Business for You?

The foreign exchange market remains a very attractive business proposition, in spite of the fact that there are certain obvious risks involved. The chances of winning big are also there. However, those of you are who take little time in relating “big wins” or “big losses” to “luck” and “gambling”, might think once again. Forex isn’t really the place to be— for you—in that case. As a potential trader, you must understand that forex is much more than the proverbial “pure luck”. In order to succeed here, you need to educate yourself and gain a thorough understanding of the marketing in the process. If you’re not ready to do that, then forex is not for you. Let us find out which kind of people is not cut out for stocks or the foreign exchange market or currency trading.

Forex Trading SystemForex is not for you!

It can be easily claimed that if traders or investors were a bit more serious about conducting some substantial self-study before trading, then the market would have seen fewer losses. It is advised that you refrain from trading if you don’t have the qualities mentioned below:

Patience

Forex is not meant for those who lack one of cardinal qualities (as far as forex is concerned). There are times when you would have to sit for long in front of the computers to watch charts and determine your entry point. Impatience leads many a traders to start trading before studying the chart thoroughly and getting an appropriate signal. Therefore, they are bound to close in a wrong position and lose a substantial amount of money in the process. One of the unmistakable attributes of successful traders is that they know very well when they want to enter or exit trades.

You need to exercise similar patience before you start trading as well. For instance, you have to practice with a demo account, for months before you start trading. Acquaint yourself with terms such as forex affiliates, conversion rate, commodity pairs, counter currency cross rate etc.

Ability to Control Greed

As already mentioned above, successful traders know when to enter the trade and the exit it. Yes, they exit trades after they secure the expected returns, without continuing for bigger gains. On the other hand, its greed, that leads most of the unsuccessful traders to hold on for too long, after initial success— thereby triggering risks of losing big, as well.

Ability to Control Emotion

Traders, who are primarily driven by emotions, should seriously consider their chances of getting in to forex. Emotion is one of the major factors influencing your standing as an investor. Exercising a firm control over your emotions irrespective of whether you’re winning or losing, is important. For instance, the situation highlighted above— when traders keep on betting even after securing their expected returns— is partially driven by emotions besides greed.

It’s the same emotion which leads them to hold on after suffering losses initially. Any successful or experienced trader would generally like to opt for a safe exit when they start suffering losses in a trade. They are quick to understand that it’s not their day and it’s only wise to resign for the day so as to keep the losses within control. The more emotional traders, on the other hand, hold on, expecting that they would end up winning, finally, even after the initial losses— thus, ending up losing a huge amount of money in the process.


5 Things You Never Want to Hear In Your Negotiations

5 Things You Never Want to Hear In Your Negotiations

It doesn’t matter what it is that you are trying to negotiate, there are simply some things that you do not want to hear. You want things to run smoothly during this process with things preferably favoring you. To make this happen, the other side needs to agree to satisfy your most important goals. That may seem difficult, but it can be done. With proper skills and training you will know if your negotiation is heading in the right direction. These five phrases can make you cringe when you hear them during your negotiations.

“This is a one time deal. There are no further talks.”

Chances are this is nothing more than a bluff and demonstrates a lack of negotiation skills training. Even if it’s not a ploy, the last thing you want to hear is that the person you are negotiating with is not receptive to working with you.

“I’m trying to be the good guy here.”

This statement gives you the impression that they are taking the deal too personally. They may think more with their emotions rather than their brain but by investing time in training you learn how to keep your emotions out of the negotiation. A skilled response may be to divert their attention back to the product or service you are negotiating and gently remind them you’re looking for a satisfactory mutual agreement.

“I don’t think we are going anywhere.”

This is a sign that they have already mentally checked out. Their conclusion is that the deal is not going to close and that they are wasting their valuable time. In negotiation skills training you may learn that this may be the time to start asking open ended questions to regain their involvement in the negotiation.

“Why don’t you give me a number?”

It’s true that you usually want to take advantage by being the first to state a number. Just be careful, as too high of a number might insult the other party and too low of a number could cost you money that they would have otherwise paid. Utilize your negotiation skills and consider estimating the value with valid reasons behind your estimation.

“I’m offended by this offer.”

This is a clear expression of insult. They have taken the negotiation to a personal level and it is time to use your negotiation skills and training to do a little repair work.

You will find that there are times where even the best negotiation skills cannot pull you through. Even those negotiators with the best training in the world could not get through to the most obstinate of opponents. You have to know when it is time to simply walk away. This can be a difficult decision to make but it is one that must be made on occasion. Remind yourself that there are better deals to be had elsewhere. Take your skills and training and move on to the next deal and hope the negotiation goes much smoother.

Melissa White, a successful sales representative, has written several articles from her experiences during negotiation skills training to share with professionals in her industry.


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