5 Ways to Improve Your Presentation Skills

February 7, 2020

Presidents, politicians, and teachers all have one thing in common: their uncanny ability to deliver effective presentations. For many, the mere mention of the word “presentation” can send them into a fit of panic. Let us be honest; presentations can truly be nerve-racking. In school, presentations are associated with grades; at work, they are related to selling your products and convincing clients. So, naturally, the higher the stakes are, the more nervous you will feel. Nonetheless, giving a rousing presentation does not have to be an ordeal. Thus, if you want to improve your presentation skills, but do not know how you have come to the right place. By just utilizing the next 5 tips, you are sure to get a round of applause!

1. Be Well Prepared

Granted, this is easier said than done. Stage fright can undermine all your efforts, but there is only one way to combat it: practicing. You need to write your main points and practice in front of the mirror or your friends until you perfect your delivery. Moreover, make sure you know the ins and outs of your topic; you do not want your audience to put you on the spot and ask you questions you cannot answer. Showing a deep understanding of your subject will help you retain better control over your presentation. Another tip is to record yourself to see whether or not you are using your voice effectively. It can be awful to hear your voice on record, but this can help you learn from your mistakes and avoid them when it is time to wow your audience. If you need more help you could get in touch with a presentation training company. There are many of them out there, so it’s really important that you know what to look for in a presentation training company.

2. Know Your Audience

To ensure that your presentation goes off without a hitch, you need to assess your audience first. Different audiences require various persuasion techniques. Consider their age, level of expertise, and goals. If you are giving a business presentation before your managers and potential clients, the experts from SlideHeroes.com recommend that you skip any jokes. Cracking a joke in a business setting will only make you seem unprofessional. You just need to be succinct and get to the meat of your presentation. On the other hand, if you are going to present in front of your colleagues in a more relaxed environment, you can include some jokes, but make sure they are actually funny. Lame jokes can be a huge turn-off and might make your audience lose interest. Also, you should avoid any specific jargon if you are not addressing experts. Your audience’s level of expertise should be reflected in your choice of words.

3. Rule Your Facial Expressions and Body Language

No one likes a presenter who seems aloof or, worse, panicky. You should practice to better control your facial expressions, as you want to look approachable yet professional at the same time. Avoid having a scrunched-up expression or a poker face. Alternatively, relax your muscles and smile. Yes, it is that simple! Smiling can put your audience at ease and prepare them to listen to whatever you are going to say. Moreover, your body language and hand gestures also play a huge role in making or breaking your presentation. For instance, crossing your arms can make you seem defensive. Maintain an open body language, and use your hand gestures to enhance your delivery. Just avoid using your hands too much because it can be distracting.

If you’re too nervous, you might want to consider taking cannabidiol or CBD oil at least 30 minutes before the presentation. This food supplement can help relax your mind and body to reduce anxiety, helping you ensure a smooth and well-delivered speaking session.

4. Make Sure Your Outfit Is Spot On

Your outfit is not an afterthought. Wearing the right clothes when giving your presentation can give you an edge. Evaluate your environment first, as it will determine your attire. If you are going to give a business or a serious academic presentation, stick to formal clothing. On the contrary, you can wear a casual outfit if your venue is not that formal. Generally, women must avoid bright nail polish colors because they can be distracting, while men need to wear polished shoes and wrinkle-free garments. Make sure your shoes are attractive but comfortable. Try using heel spur inserts for women and men to ensure foot pain isn’t a distraction while presenting.

When choosing the perfect outfit for your presentation, it’s best to pick one that won’t steer your audience’s attention away from what you’re saying. As much as possible, go with the basics and avoid too flattery clothing. You can buy formal or business casual clothes online or in physical clothing stores in preparation for your next presentation. To save money, check out available vouchers or discount codes on their homepage or once you sign-up (for new customers) that you can redeem online.

5. Arrive Early

A million things can go wrong during your presentation. Arriving early at your venue will help you avoid any embarrassing surprises. If you are using PowerPoint slides, check if the projector is functioning properly. Furthermore, do not forget to ensure that your mic is working well and making your voice sound crisp clear. Arriving early will also help you survey the size of the room, helping you find a good place to stand so that everyone can see you.

If you arrive early, you’ll have time to practice your self-introduction speech. It’s essential to make an excellent first impression when presenting. A self-introduction speech can make or break your presentation. So, make sure you don’t miss this part and give your best.

Early birds also get a chance to mingle with the participants in a presentation. For instance, if you’re a sales representative who will present a sales proposal to a panel of investors, you can meet and have small talks with them. It will help you reduce or eliminate your nervousness during your presentation. Hence, you’ll look more confident during your presentation.

Delivering a rousing presentation is not a walk in the park, but it does not have to be unnecessarily hard. By preparing well, knowing your audience, and perfecting your body language, your audience will be in awe of your presentation skills. Remember to not overcomplicate things; having a positive mindset can go a long way towards making you a great presenter.

Go to top

PCP: The New Way to Drive the Car of Your Dreams

February 7, 2020

From research conducted by the AA, it has become apparent that the average car depreciates by 60 per cent of its residual value in the first three years, considering it is negotiating 10,000 miles per annum. The biggest losses come in the first year however, with a deduction of around 40% being made by the end of the first 365 days.

Obviously, there are different ways of putting the brakes on depreciation. Keeping the car clean, regular servicing in accordance with manufacturer’s guidelines, and one eye on the mileage gauge, will all go a long way in reducing potential losses. But is there another option to consider?

A car is considered the ultimate mark in class and being able to sport a premium vehicle. Owning a renowned car such as the new Mercedes GLE for example is undoubtedly a proud moment in any household.

Currently, there are more than 38 million vehicles registered for use on the roads here in the UK and considering the average person spends more than nine hours a week sat in the driving seat, more than they do eating, cars play a significant part in our lives.

Cost

Due to the fact the vast majority of us don’t have copious amounts of cash stored under our mattress, buying the car of our dreams isn’t always feasible. With PCP, the payment is broken down into three major chunks. Firstly, you’ve got the initial deposit which is usually 10% of the car’s showroom value.

Secondly, the monthly payments which will include enough to cover the depreciation costs incurred throughout the contract. Finally — and this is where things change once the final payment of the contract has been made, you get the option to either return the car or take a new one on a new contract. Or, you can pay a balloon payment and then the car is yours.

By taking out a PCP lease, the monthly repayments are significantly lower than they would be with a finance deal. The option then presents itself is to drive a car that you would initially have deemed to be significantly out of your price range. Therefore, if you don’t have a big deposit and want lower monthly repayments, then this might be exactly what you’re after.

PCP

With 78 per cent of the people in the UK now choosing to take PCP (A personal contract purchase) as their finance option, it is clear it has established itself as a popular option. Admittedly, it goes against everything our parents have told us to do, in regard to owning our own car, but if you can battle those initial demons, then we’re here to show you why this might be for you.

Mileage

Three reasons many drivers in the UK have steered away from the daily commute in the car and opted for public transport are congestion, fuel costs, and parking. A decade ago, our decision when purchasing a car will have depended hugely on our day-to-day usage — but when that isn’t the same, why should the choice be?

The average annual mileage of a car in the UK is 7,900. One drawback of renting your car through PCP is that is that when initially taking out the contract, you are given a mileage restriction and if you exceed this, you will be penalised. If, however, you would consider yourself to be one of those average UK drivers, then PCP offers no qualms. The opportunity to purchase a new contract once your current one is up means you aren’t going to have spent your days driving around in an old car with high mileage.

If you don’t use your car for your drive to work every day, PCP can provide you immense positives in regard to the fact, you are basically buying a weekend car. When purchasing a new car outright, you are restricted by the constant reminder that you will have this car for the foreseeable future. With PCP, you can buy the car that caters exactly to the needs of your evenings and weekends. For example, an SUV if you go camping with the kids most weekends throughout the summer, or a two-door roadster, if your Sundays are filled by coastal runs. And, if your circumstances do change, you can simply exchange the car.

Alongside providing the British public with the opportunity to get behind the wheel of a car that perhaps would have never been feasible, PCP has, in effect, saved the British car market. For the past three years, the number of new car sales in the UK has stayed above 2.5million units per year, in comparison to 2011 when it was only 1.9million.

Undoubtedly the best performing manufacturers in the PCP generation have been premium brands such as Audi, Mercedes, and BMW. This is due to the fact these cars hold their value better, and therefore depreciation is less, ultimately benefiting both dealer and driver. Mercedes reported a 100% upturn in UK sales since 2010.

Who knows what the future holds for car purchasing and PCP, but it is sure to be interesting!

Go to top

Sources:

https://www.ft.com/content/0e651206-0ee1-11e7-a88c-50ba212dce4d

https://www.thinkmoney.co.uk/news-advice/what-is-the-average-miles-driven-per-year-in-the-uk-0-8581-0.htm

https://www.lookers.co.uk/finance/pcp/

http://www.theaa.com/car-buying/depreciation

https://www.autoexpress.co.uk/car-news/90794/pcp-personal-contract-purchase-car-deals-explained

https://www.telegraph.co.uk/money/consumer-affairs/should-rent-next-car/

The Democrats Implode Inside 48 Hours

February 7, 2020

The day that Donald Trump was acquitted of the charges put to him by the Democrats in the Senate was always going to live long in the memory. History will record that date as February 5^th, 2020. Although the story is making headline news around the world, it’s not considered to be a shock. Short of the Republican party suddenly and inexplicably turning against their man under the glare of the world’s spotlight, they were never going to vote to remove him. Why the Democrats ever decided to give him the opportunity to be tried and acquitted will probably always remain a mystery. It was a spectacular own goal – and yet it wasn’t even the biggest own goal the Democrats scored this week.

If you want to be trusted to run a country – especially one with the size and profile of the United States of America – it generally helps if you can convince the public that you have the ability to count a few thousand ballot papers or operate an app on a mobile phone. Unfortunately for the Democrats, they’ve failed on both counts. The ongoing farce in Iowa is such a spectacular catastrophe that it may ultimately do the Democrats more damage than the failed impeachment attempt. Even at the time of writing, more than 48 hours since the Iowa result was due, we still only know 62% of the results. There’s no acceptable explanation for this in 2020. It makes the Democrats look incompetent, and it’s a stain that’s going to be hard to erase over the next few months.

As contentious as the lack of results is, it’s not as contentious as the way that Joe Buttigieg has claimed victory based on the share of the votes made public so far. Given the makeup of the areas that results are not yet available for, it’s highly likely that Bernie Sanders will win there, and therefore take Iowa overall. For a lot of top-level Democrats, this is their ultimate nightmare. For Sanders supporters, the apparent technical difficulties are further evidence that the powers-that-be within the Party is trying to deny their man the chance to run against Trump. The same thing happened in 2016 with Hilary Clinton. At exactly the same time the Republicans are putting on a more united front than we’ve seen at any time during the past four years, the Democrats are turning on each other, falling apart, and failing to perform basic administrative tasks.

The big question in all of this is, ‘what does this mean for the 2020 Presidential Election?’ If your first thought is that it probably means good things for the Trump campaign, you’re almost certainly right. As recently as a year ago, most political commentators presumed Trump stood no chance when the election rolled around. He was a figure of fun in the world’s press. There was an online slots game released at casinos called ‘Trump It’ on websites such as Rose Slots, and it was deliberately designed to mock him. We don’t think that the President is a big online slots player, but he knows a thing or two about casinos, and he knows a thing or two about beating the odds, too. Twelve months ago, a bet on him to win was probably about as safe as a bet on that online slots game. Today, he’s the odds-on favorite to win the election with the overwhelming majority of online bookmakers. There’s been a huge swing in his favor in the past week, and it’s now on him and his administration to ride the wave all the way to a second term in the White House.

Mayor of South Bend, Indiana, Pete Buttigieg, Senator Elizabeth Warren, Former Vice President Joe Biden and Senator Bernie Sanders participate in the fifth Democratic primary debate [File: Saul Loeb/AFP]

What’s less clear is which, if any, of the Democratic candidates has the best chance of stopping Trump from securing that second term. Joe Biden, former Vice President to Barack Obama and once the outright favorite in the race, now seems destined to finish third at best. Elizabeth Warren, who also had a brief moment as the front runner, also appears to be falling away. As much as the senior figures in his own party hate him, Bernie Sanders has to be considered a front runner, with Buttigieg his most likely opponent. While both of them have obvious – and very different – appeals to certain sections of the Democrat vote and those on the left of American politics, we would humbly suggest that neither is likely to win.

Bernie Sanders, while doubtless a man with good intentions and a kind heart, is 78 years old. By the end of any term in office, he would be 82. He’s already had one heart attack. Could he realistically cope with the rigors of being the President of one of the most powerful countries in the world? Even if he could, is it realistically possible that centrists could be persuaded to unite behind him and vote for him? His supporters are fanatical and see him as a revolutionary, but he would likely encounter the same problem that Jeremy Corbyn recently encountered in the United Kingdom. His supporters believe that he’s the only solution. His detractors believe that he’s an even bigger problem, and in some quarters of American society, ‘socialist’ is still a dirty word.

Buttigieg is a better fit for middle American than Sanders from a politics and policy perspective. He’s not radical, he’s not revolutionary, and he’s unlikely to upset the interests of big business. He’s also gay. It’s 2020, and that shouldn’t be an issue, but only a fool would pretend that homophobia doesn’t exist in America, and doubly so in Bible Belt states. Getting Barack Obama elected was an important victory over racism for the American public and the cause of progress. Getting a homosexual man elected would be an even bigger success story, but the unfortunate truth is that America probably isn’t ready to take that step just yet. Even if it only affects the way that 5% of people in the country vote, that’s probably enough to hand victory to Trump.

If Donald J. Trump wins re-election at the end of what’s likely to be a bruising and divisive election year, it won’t necessarily be because the American people believe that he’s done a job. It may have more to do with the fact that the Democrats can’t keep their house in order, and can’t present the public with an electable candidate.

Go to top

7 Benefits of Hiring a Professional Web Designer for Law Firms

February 7, 2020

To keep thriving is in the present competitive world, organizations must have an online presence to attract potential customers. Online presence is a key part of any business today. Since you have to be online, you must as well give it your best shot. Mind you, more often than not, the first interaction your clients have with your brand is your website. This highlights the need to get the service of a professional website designer to ensure your clients have the feel-good factor about you the very first time. The first impression, they say lasts long.

With lots of practical instructions in videos and articles available online, one might be tempted to venture into web designing personally or get someone not skilled for the purpose especially because of the cost involved. Nothing can be compared to getting a professional web designing services like transformationaloutsourcing.com for your website– it is worth every cent spent. Moreover, there are good numbers of professional website designers who are pretty affordable.

Law firm websites must be properly interfaced, excellent and appealing to clients. This will make it easy for potential customers to come. A good website is as important as any other factor necessary for the successful practice of a lawyer. The benefits of hiring a professional web designer for your firm are enormous. You simply can’t get the wrong person to handle your law firm website. And if you do not know where to look, you may click here to get some tips and ideas on what a law firm website should have.

These tips will help you pick the right person for your law firm website design and help you get a good number of clients. So what are the benefits of hiring the right person for your website? A few of them are listed below.

Strategic online plan

Professional web designers are adept at laying out strategic online plans. This is one of the greatest benefits any law firm will enjoy by getting the service of professional web designers. They establish a strong long-term foundation for your website based on the core business model and goals. Usually, web designers work as a team. SEO specialists, copywriters, coders, and web designers are part of the team. They have a very good understanding of today’s digital marketing and combine smooth business processes with aesthetics.

High-quality web design

A law firm’s website must be of very high quality since most business transactions are now done online. This level of quality is almost exclusive to top professional web designers. Developing a top-notch website can be very hard even with a free website template. Professional web designers have codes, plugins and other key ingredients of a high-quality website as second nature. Furthermore, the rate at which technology advances require that you let professional hands handle your website for you. Law firms who use the service of professional web designers or a professional UX design agency will enjoy a fantastic user experience through the dynamic nature of their service.

Optimization

Any website that isn’t optimized is as good as being blindfolded. To gain the necessary visibility, a website must be optimized. Only a sizable percentage of the traffic to your website will be from direct entry of your website address by clients. Appearing on the first page of search engines will drive more traffic to your website than you can imagine. Very few users get to the later pages on search engines, hence it is important to appear on the first two or three pages. To appear in top-ranking pages, search engine optimization is the way. A professional web designer understands the nitty-gritty of SEO business hence giving your law firm more visibility and eventually driving your business.

Responsive web design

Websites must be designed to be compatible with the latest technologies since a high percentage of users access the internet via smartphones and iPad. With the rate of use of mobile traffic, you will be at a great loss if your website is not compatible with mobile devices. A professional web designer has all it takes to design a responsive website for you without having created a different version. If you are not sure which one would suit you the best, you can always research some of the top New York web design companies and be sure you made the right choice.

Reliability

When designing your law firm’s website yourself or using unskilled designers, many things can go wrong and you end up at a very difficult place. Fixing problems on your website is all shades of trouble, including having to pay a huge sum for emergency professional service to right the wrongs. You may not know the extent to which damage might have been done. Hiring a professional website designer assures you.

Competitive advantage

There are so many law firms with websites; you need all the edge you can get to gain the necessary competitive advantage. The high-quality website provided by professional web designers ensures you stay ahead of your competitors or you are at least a match for them. Professional web designers can also incorporate other features on your website to ensure you stay ahead of the game.

Time, speed and security

A website with impressive functionality saves time and increases revenue. You can easily book appointments online, using your phone. Automatic emails can also be leveraged to ensure immediate response to clients. A website designed by a professional web designer is not just faster, it is also safe.

These are only a few of the benefits of hiring a professional web designer. Get one for your law firm today and see your business take a giant leap.

Go to top

In Good Company: How Organizational Resources Make Social Capital?

February 7, 2020

By Mostafa Sayyadi

This article offers novel insights into how executives can build social capital by affecting and, in some cases, manipulating structure, culture, strategy, inter-company networks and stakeholder orientation. The author uses Janine Nahapiet and Sumantra Ghoshal’s application of social capital theory as the basis for grounding this article and adding to the research. Practical guidelines for executives provide a more effective facilitation of social capital in companies.

Introduction

There is a gap in the management literature toward identifying the catalysts of social capital in organizations. The question arises whether the management of company characteristics can be a source for building social capital. This basic question remained unexplored since the inception of the social capital theory to date. To address this gap, this article indicates how the three important dimensions of social capital theory (structural, cognitive, and relational) are affected by various internal characteristics of companies such as the structure, the culture, the strategy, the inter-company networks, and the stakeholder orientation. The significance of my strategic tenets and networking suggestions relate to social capital theory.

The contribution to the management literature lies in presenting a theoretical framework that incorporates the organizational factors that may impact the three dimensions of social capital. The literature, to date, has failed to provide a comprehensive framework which incorporates all of the contextual factors that may simultaneously impact social capital. The absence of this systematic approach inhibits the development of social capital as a vital driver of business success. Exploring these organizational factors and how they may impact offers practical implications for executives and top managers to improve outcomes at the organizational level and meet their business objectives. This article contributes to practice by identifying the ways in which to build social capital in companies.

Building Social Capital in Companies

Janine Nahapiet and Sumantra Ghoshal determine three dimensions for social capital, and categorize them as structural, cognitive, and relational.¹ The structural dimension actually portrays an “overall pattern of connections” among actors.² This dimension could possibly be improved by having access to other actors quickly, and enhanced through highly flexible structures. Two scholars by the names of Catherine Wang and Pervaiz Ahmed indicate that highly flexible structures such as organic structures may be prone to better socialization among organizational departments and business units.³ These scholars also indicate that structural aspects of formalization and centralization may negatively relate to structural dimension of social capital theory.

Highly flexible structures such as organic structures may be prone to better socialization among organizational departments and business units. [While], structural aspects of formalization and centralization may negatively relate to structural dimension of social capital theory.

The cognitive dimension is also defined as resources developing shared vision, interpretations and feelings among actors.¹ Similarly, Edgar Schein, one of the prominent management scholars, defines organizational culture as “the correct way to perceive, think, and feel” in order to solve organizational problems.⁴ Robert Putnam, Robert Leonardi and Raffaella Nanetti found that “trust is an essential component of social capital,” and argue that trust enhances interactions among employees.⁵ In agreement, Ester Villalonga-Olives and Ichiro Kawachi consider trust as an important facilitator of social capital.⁶ The link presupposed here provides significant evidence that social capital requires cooperation, and cooperation demands collaborative behaviors. Furthermore, Salvador Avila Cobo argues that collaboration is a strong determinant of “the very existence, strength, and durability of social capital.”⁷ The assumption made by this literature review is that cognitive dimension seeks to achieve a shared vision. Shared vision is a mutual understanding toward determined goals, and this common perception could be reached through developing learning opportunities. These results suggest that cultural aspects of trust, collaboration, and learning may be positively associated with the cognitive dimension of social capital theory.

Another important component, the relational dimension focuses on the importance of relations, and argues that relations based on obligations, reciprocity and identification could develop organizational assets. Janine Nahapiet and Sumantra Ghoshal define obligations as “a commitment or duty to undertake some activity in the future.”¹ Sort of a due diligence of each employee to put in the necessary effort to help the organization prosper. In order for a company to prosper, executives must develop a strong organizational strategy. Organizational strategy is evaluated as “a plan for interacting with competitive environments to achieve organizational goals”.⁸ Strategy highlights the critical role of relations with external actors, and enhances social interactions with business units and the organizational environment in order to attain goals in the future. Furthermore, organizational strategy develops a shared interpretation among organizational members and positively relates to cognitive dimension of social capital theory. Organizational strategy can be, therefore, positively connected to cognitive and relational dimensions of social capital theory.

Reciprocity, another aspect worth noting, stresses upon helping behavior and knowledge contribution between resources and recipients. Inter-company networks are a key part of this relationship, and play a critical role in enhancing knowledge transference among actors. Two scholars by the names of Elinor Ostrom and T. K. Ahn illustrate that inter-company networks are crucial condition for reciprocity, and highlight the importance of inter-company networks in creating reciprocity.⁹ Furthermore, one scholar that is well known in the Academy of Management, one of the largest leadership and management organizations in the world by the name of James Coleman argues that inter-company networks facilitate access to other actors and resources, and this could improve structural social capital which is highly affected by having access to other people quickly.¹⁰ Therefore, it may be established that inter-companies networks have a positive relationship with relational and structural social capital. This idea is capsulized by Robert Putnam who states that “the core idea of social capital theory is that networks have value.”¹¹

The stakeholder orientation is about enhancing the exchange of knowledge with various stakeholders. And much of the knowledge exchanged with stakeholders is a result of social interactions between organizations and their stakeholders. The prominent scholar on social capital theory is Elisabet Garriga Cots who affirms the critical role of social capital in this relationship, and highlights a strong association between the dimensions of social capital and stakeholder orientation.¹² I depict that based upon this literature review that the three dimensions of social capital emerge in social interactions with stakeholders. Accordingly, stakeholder orientation may be positively related to all the three dimensions of social capital. Therefore, factors affecting social capital theory are depicted in figure 1.

Both in theory and in practice, executives can manifest themselves as change agents who have developed competencies to better manage organizational factors with the aim of fostering social capital within companies.

In Conclusion

This article extends the current literature and provides elaborative insights for executives and senior managers by modeling how the three dimensions of social capital theory can be affected by company characteristics such as the structure, the culture, the strategy, the inter-company networks, and most importantly, the stakeholder orientation. These three dimensions include structural, cognitive, and relational. This article can add to a relatively small body of literature and develops our understanding of the direct impact of company characteristics on social capital. In particular, I argue that executives can build social capital through manipulating organizational factors. Therefore, both in theory and in practice, executives can manifest themselves as change agents who have developed competencies to better manage organizational factors with the aim of fostering social capital within companies.

Go to top

About the Author

Mostafa Sayyadi, CAHRI, AFAIM, CPMgr, works with senior business leaders to effectively develop innovation in companies, and helps companies– from start-ups to the Fortune 100 – succeed by improving the effectiveness of their leaders. He is a business book author and a long-time contributor to HR.com and Consulting Magazine and his work has been featured in these top-flight business publications.

References
1 Nahapiet, J., and Ghoshal, S. (1998). Social Capital, Intellectual Capital, and the Organizational Advantage, The Academy of Management Review, vol. 23, no. 2
2 Choi, B. (2002) Knowledge Management Enablers, Processes, and Organizational Performance: An Integration and Empirical Examination, Thesis (PhD), Korea Advanced Institute of Science and Technology.
3 Wang, C.L. & Ahmed, P.K. (2003). Structure and structural dimensions for knowledge-based organizations, Measuring Business Excellence, vol. 7, no. 1
4 Schein, E.H. (1985). Organizational culture and leadership, San Francisco: Jossey-Bass Publishers.
5 Putnam, R.D., Leonardi, R., & Nanetti, R. (1993). Making democracy work: civic traditions in modern Italy, Princeton: Princeton University Press.
6 Villalonga-Olives, E. & Kawachi, I. (2015) The measurement of social capital, Gaceta Sanitaria, vol. 29, no. 1, pp. 62-64.
7 Avila Cobo, S.H. (2005). Collaboration, innovation and the building blocks of social capital in the technology sector: A comparative analysis of knowledge-creating institutions. The role of individual attributes, policies and environments in the collaboration and productivity of scientists and technologists, Thesis (PhD), Stanford University.
8 Daft, R.L. (1995). Organization theory and design, Minneapolis/St. Paul: West Pub. Co.
9 Ostrom, E., & Ahn, T.K. (2003). Introduction. In Ostrom, E & Ahn, TK (ed.), Foundations of Social Capital, Cheltenham: Edward Elgar Publishing.
10 Coleman, J.S. (1988) Social Capital in the Creation of Human Capital, The American Journal of Sociology, vol. 94, no. 1, pp. 95-120.
11 Putnam,R.D. (2000) Bowling alone: the collapse and revival of American community, New York: Simon & Schuster.
12 Cots, E.G. (2011). Stakeholder social capital: a new approach to stakeholder theory, Business Ethics: A European Review, vol. 20, no. 4, pp. 328-341.

How Agricultural Technology Can Increase Economic Growth in Sub-Saharan Africa

February 7, 2020

By Alexander Ayertey Odonkor and Emmanuel Amoah-Darkwah

Sub-Saharan Africa’s agricultural sector is based on a diverse range of terrains inhabited largely by smallholder farmers. The dominant agricultural sector accounts for an estimated 23% of sub-Saharan Africa’s gross domestic product, as a recent study¹ by McKinsey and Company reveals. The region has a population of 950 million, approximately 13% of the world total, and this is projected to increase to 2.1 billion by 2050, almost 22% of the global population, as indicated in an OECD-FAO² report. More than 60% of the population of sub-Saharan Africa are smallholder farmers but the region’s full agricultural potential is yet to be exploited. Hunger is on the rise, with 22.8% of the population being undernourished. A report by the Food and Agriculture Organization of the United Nations indicates that more than 90% of the 260 million hungry people in Africa in 2018 were in sub-Saharan Africa³.

More than 60% of the population of sub-Saharan Africa are smallholder farmers but the region’s full agricultural potential is yet to be exploited.

Although sub-Saharan Africa has more than 202 million hectares of uncultivated land⁴, which is more than the total cultivated area in America, the agriculture sector and other related industries in the United States are worth more than sub-Saharan Africa’s agriculture sector. A report by the United States Department of Agriculture found that agriculture and other related industries accounted for $1.053 trillion, or 5.4% of the country’s gross domestic product in 2017⁵, with the total output of farms accounting for $132.8 billion.

In contrast with sub-Saharan Africa’s agriculture sector, where most farmers use crude tools⁶, the agriculture sector of the United States continues to evolve with technology; for example, auto-steer tractors that depend on GPS are being developed, with the goal of improving productivity via automation, among other new technologies⁷. Engine-powered machines account for a paltry 10% of the total energy used in land cultivation in sub-Saharan Africa, a condition which has barely improved in over 40 years. With a steady decrease in the use of farm machinery, the region has been surpassed by many developing countries.

In 1960, three countries in sub-Saharan Africa, Uganda, Kenya and Tanzania, individually had more tractors on their farmlands than India. However, while the African countries have failed to improve on the use of farm machinery in the past decades, India on the other hand has increased the employment of such equipment to the extent that, in 2005, there were one hundred times more tractors in use on farmlands in India than the total number of tractors in Uganda, Kenya and Tanzania⁸, as highlighted in a report by the Food and Agriculture Organization and the United Nations Industrial Development Organization in 2008.

With a growing population and low productivity⁹ in agriculture, sub-Saharan Africa relies excessively on imported food and other agricultural products to complement the output of the agricultural sector. The region’s imports of food and agricultural products continue to soar; $48.5 billion of agricultural goods were imported in 2014, the second-highest in the world at the time, as indicated by the World Bank. Conversely, in 2014, India had a population of 1.294 billion, exceeding the population of sub-Saharan Africa by more than 300 million; yet India imported only $17.6 billion of agricultural goods¹⁰. India’s agricultural sector depends on modern technology. With the cheapest mobile data in the world¹¹, farmers in India rely on the internet to access technological services such as Plantix, a mobile application that provides advisory services to crop farmers. The system has the capacity to identify more than 450 different crop diseases in 50 species of crops, and farmers are able to access a diagnosis and a treatment plan by uploading images of the disease-infected crops via their smart phones. Additionally, farmers in India have access to Digital Green, a development organization with a global outreach that aids smallholder farmers in growing, transporting and selling their farm products to appropriate customers¹².

With a growing population and low productivity in agriculture, sub-Saharan Africa relies excessively on imported food and other agricultural products to complement the output of the agricultural sector.

The relationship between agriculture and economic growth is knitted into the fabric of the economies of sub-Saharan Africa; even in oil-rich Nigeria and South Africa, which are the two largest economies in the region¹³, agriculture plays a pivotal role in the growth of those economies. A recent analysis conducted by PricewaterhouseCoopers¹⁴ in sub-Saharan Africa highlights an increase in economic growth via agriculture as dependent on three major factors: farmland expansion, yield growth and reduction in post-harvest losses. Technology plays a crucial role in improving all of these factors. Studies¹⁵ conducted by the Food and Agriculture Organization of the United Nations show that economic growth from agriculture in sub-Saharan Africa is eleven times more effective in reducing extreme poverty than any other sector, yet most of the youth in the region show little or no interest in securing employment opportunities in agriculture¹⁶, as they do not consider agriculture to offer a lucrative livelihood.

The mobile ecosystem in sub-Saharan Africa is currently worth about $150 billion, 8.6% of the African continent’s gross domestic product, and is projected to reach $185 billion by 2023, representing 9.1% of GDP¹⁷. Technology is the ideal catalyst for changing the agricultural landscape and improving productivity and economic growth in sub-Saharan Africa. Job opportunities that require expertise in digital technologies will be created and a new skill set that is more appealing to the youth will be in demand when agricultural activities are intertwined with modern technology.

A typical example is the case of Rita Kimani and Peris Bosire, founders of FarmDrive¹⁸, a start-up that uses data and machine learning to close the critical data gap that usually discourages financial institutions from lending to creditworthy smallholder farmers in Kenya. Since 2014, the start-up has made more than $300,000 in loans available to smallholder farmers, with at least 37% of them being young farmers who are interested in using technology in agriculture. As indicated in a report by the USAID and Bureau for Food Security¹⁹ in 2019, accessing credit for agricultural purposes is extremely difficult, especially for young people who, in most cases, do not have the requirements or collateral to access credit from local banks. However, FarmDrive has demonstrated that, with the aid of technology, the youth cohort in sub-Saharan Africa can now access credit from financial institutions that will enable them to invest adequately in agricultural activities.

As indicated by the International Labour Organization²⁰, sub-Saharan Africa has the world’s youngest population. Young people between 15 and 35 years account for about 60% of the total labour force, which continues to grow at 3% annually; 375 million young people are expected to join the workforce by 2035. A youthful population has many advantages, especially for emerging economies. The World Bank estimates that countries in sub-Saharan Africa could gain an additional $500 billion annually for the next 30 years if appropriate investments are targeted at equipping the young with the requisite skills, education and employment²¹.

To achieve the projections of the World Bank, the traditional perception that agricultural activities are carried out with excessive manual labour on farmlands should be changed through comprehensive educational systems that resonate well with young people. By considering approaches that leverage social networking and foster peer-to-peer engagement, new agricultural technologies that improve productivity and efficiency can be communicated to the youth in a manner where implementing partners can share the success stories of young people whose achievements in agriculture are worthy of emulation.

Additionally, governments in sub-Saharan Africa should prioritise the mechanisation of the entire food value chain. Adequate investments should be channelled into designing and developing technologies that not only improve agricultural production, but also reduce post-harvest losses and improve the processing of raw materials into high-quality finished products. Studies²² have shown that post-harvest losses for all grains in sub-Saharan Africa amount to $4 billion per year, which exceeds the value of food aid the region has received in the last decade.

As farmers in sub-Saharan Africa continue to store grains in traditional storage contraptions made of mud, grass and wood in their homes, Solar Freeze, an agri-technology company in Kenya, is providing solar-powered mobile cold-storage units to smallholder farmers. These storage facilities have been of immense importance to 3,000 female farmers in rural areas with no electricity, increasing agricultural yield by more than 150% since 2016, to say nothing of the environmental friendly features of the device²³. Governments in sub-Saharan Africa should invest more to reduce post-harvest losses by improving essential infrastructure, such as road networks, telecommunication networks, electricity grids and hermetic storage structures, especially in the hinterlands where the farmlands are located.

Ghana and Ivory Coast produce two-thirds²⁴ of the world’s cocoa, yet these two West African countries account for only $6 billion of a chocolate market which is worth more than $100 billion worldwide²⁵. Developing world-class food processing industries in sub-Saharan Africa through partnership with established international corporations has the potential to improve the value of agricultural products on local and international markets. This will eventually generate more income, in contrast with commercialising agricultural products in a raw form, as has been done for many decades.

A consistently low agricultural harvest²⁶ has plagued sub-Saharan Africa for many years, making agricultural productivity in the region the lowest²⁷ in the world. This perennial condition could be worsened by the unremitting effects of climate change²⁸ if appropriate investments are not directed towards increasing irrigation facilities and educating farmers on watershed management. With little or no agricultural infrastructure in most areas, sub-Saharan Africa has an overwhelming dependency on rain-fed agriculture. As a result, the region has the lowest percentage of irrigated farmlands in the world, with only 7.3 million ha being irrigated, representing 4% out of a total of 40 million ha that is well suited for irrigation²⁹.

Research has shown that climate change diminishes agricultural output in poor countries, reducing economic growth30 as temperature increases.

Research has shown that climate change diminishes agricultural output in poor countries, reducing economic growth³⁰ as temperature increases. A 1°C increase in temperature in a given year reduces economic growth by 1.1 percentage points, ceteris paribus. The effect of climate change on economic growth in sub-Saharan Africa is invariable, as a percentage increase in temperature decreases economic growth by 0.13%, everything else being equal. Countries in the region rely inordinately on agriculture, so a decrease in agricultural output has a negative effect on job creation, poverty reduction efforts and industrial growth³¹.

In adapting to climate change in sub-Saharan Africa, it is imperative for governments to implement policies that provide the necessary resources to farmers, such as climate-resilient crops and wildlife, modern agricultural inputs, improved ways of managing the soil, new business models for smallholder farmers and agricultural diversification.

Go to top

About the Authors

Alexander Ayertey Odonkor is a chartered financial analyst and a chartered economist with a stellar expertise in the financial services industry in developing economies. He holds a Master of Science degree in Finance and a Bachelor of Science degree in Economics and Finance. Alexander has completed the International Monetary Fund’s (IMF) programme on Financial Programming and Policies.

Emmanuel Amoah-Darkwah is a chartered economist with specialization in economic policy analysis and an ambassador for the United Nations’ Sustainable Development Goals. Emmanuel’s work has been covered by the BBC, Bloomberg, CGTN, CNBC Africa and other major domestic news outlets in Africa.

References

1. McKinsey and Company (2019), ‘‘Wining in Africa’s Agricultural Market’’. Available at: https://www.mckinsey.com/industries/agriculture/our-insights/winning-in-africas-agricultural-market# (Accessed: 10 March 2019).

2. OECD (2016), ‘‘Agriculture in Sub-Saharan Africa: Prospects and challenges for the next decade’’, in OECD-FAO Agricultural Outlook 2016-2025, OECD Publishing, Paris, https://doi.org/10.1787/agr_outlook-2016-5-en. (Accessed: 6 February 2017).

3. FAO, IFAD, UNICEF, WFP and WHO (2019), ‘‘The State of Food Security and Nutrition in the World Safeguarding against economic slowdowns and downturns’’, Rome, FAO. Available at: http://www.fao.org/publications/sofi/en/ (Accessed: 15 November 2019).

4. The Economist (2018), ‘‘Africa has plenty of land. Why is it so hard to make a living from it?’’, The Economist, 28 April [Online]. Available at: https://www.economist.com/middle-east-and-africa/2018/04/28/africa-has-plenty-of-land-why-is-it-so-hard-to-make-a-living-from-it (Accessed: 29 April 2018).

5. United States Department of Agriculture, Economic Research Service (2019), ‘‘Ag and Food Sectors and the Economy’’. Available at: https://www.ers.usda.gov/data-products/ag-and-food-statistics-charting-the-essentials/ag-and-food-sectors-and-the-economy/ (Accessed: 25 September 2019). (Accessed: 20 November 2019).

6. Food and Agriculture Organization of the United Nations (2013), ‘‘Agricultural Mechanization in Sub Saharan Africa: Guidelines for preparing a strategy’’. Available at: http://www.fao.org/publications/card/en/c/c51ef369-668f-5a7c-acc2-b82b7055934f/ (Accessed: 12 June 2014).

7. Mayersohn, N. (2019) ‘‘How High Tech Is Transforming One of the Oldest Jobs: Farming’’, New York Times, 6 September [Online]. Available at: https://www.nytimes.com/2019/09/06/business/farming-technology-agriculture.html (Accessed: 7 September 2019).

8. FAO/UNIDO (2008), ‘‘Agricultural mechanization in Africa…Time for Action’’. Available at: http://www.fao.org/docrep/017/k2584e/k2584e.pdf (Accessed: 25 January 2009).

9. World Bank (2017), ‘‘Agricultural Productivity in Sub-Saharan Africa’’. Available at: http://documents.worldbank.org/curated/en/455381524517519330/World-Bank-Group-Research-Newsletter-February-2017.pdf (Accessed: 15 December 2018).

10. United States Department of Agriculture, Foreign Agricultural Service (2015), ‘‘A Turning Point for Agricultural Exports to Sub-Saharan Africa’’. Available at: https://www.fas.usda.gov/data/turning-point-agricultural-exports-sub-saharan-africa (Accessed: 5 November 2015).

11. McCarthy, N. (2019), ‘‘The Cost of Mobile Internet Around the World [Infographic]’’, Forbes, 5 March [Online]. Available at: https://www.forbes.com/sites/niallmccarthy/2019/03/05/the-cost-of-mobile-internet-around-the-world-infographic/#ade55b0226e5 (Accessed: 10 March 2019).

12. Iyengar, R. (2019), ‘‘How India’s Farmers are using technology to feed more than a billion people’’, CNN Business, 21 October [Online]. Available At: https://edition.cnn.com/2019/10/21/tech/india-agriculture-tech-digital-green-plantix/index.html (Accessed: 25 October, 2019).

13. Malingha, D., Alake, T. and Gumede, A. (2017), ‘‘Largest Africa Economies Need More Growth to Cut Joblessness’’, Bloomberg, 5 September [Online]. https://www.bloomberg.com/news/articles/2017-09-05/largest-africa-economies-need-bigger-rebound-to-cut-joblessness (Accessed: 20 September, 2017).

14. PwC (2019), ‘‘Feeding 398 million people in Africa’s largest economy by 2050, Food security challenges and agricultural innovations’’. Available at: https://www.pwc.com/ng/en/assets/pdf/feeding-africas-largest-economy-2050.pdf (Accessed 20 November 2019).

15. Mayaki, I. (2016), ‘‘3 ways to transform agriculture in Africa’’, World Economic Forum, 11 May [Online]. Available at: https://www.weforum.org/agenda/2016/05/3-ways-to-transform-agriculture-in-africa/ (Accessed: 17 May 2016).

16. Food and Agriculture Organization of the United Nations (2018), ‘‘The Future of Africa’s Agriculture rests with the youth’’. Available at: http://www.fao.org/e-agriculture/news/future-africa%E2%80%99s-agriculture-rests-youth (Accessed: 14 June 2018).

17. GSMA (2019), ‘‘The Mobile Economy Sub-Saharan Africa’’. Available at: https://www.gsmaintelligence.com/research/?file=36b5ca079193fa82332d09063d3595b5&download (Accessed: 20 November 2019).

18. Food and Agriculture Organization of the United Nations (2017), ‘‘FarmDrive improves access to credit for smallholder farmers’’. Available at: http://www.fao.org/e-agriculture/news/farmdrive-improves-access-credit-smallholder-farmers (Accessed: 21 April 2017).

19. USAID (2019), ‘‘Engaging Youth in Agriculture through Information and Communication Technologies’’. Available at: https://www.usaid.gov/sites/default/files/documents/15396/Feed-the-Future-CaseStudy-Youth-Ag-ICT.pdf (Accessed: 21 November 2019).

20. International Labour Force (2017), ‘‘The future of work in African agriculture: Trends and Drivers of Change’’. Available at: https://www.ilo.org/global/research/publications/working-papers/WCMS_624872/lang–en/index.htm (Accessed: 5 April, 2017).

21. Hutt, R. (2016), ‘‘Business is booming in Africa – these 5 charts show how’’, World Economic Forum, 21 April [Online]. Available at: https://www.weforum.org/agenda/2016/04/business-is-booming-in-africa-these-5-charts-show-how (Accessed: 25 April 2016).

22. World Bank, NRI and FAO (2011), ‘‘Missing food: The case of post-harvest grain losses in sub-Saharan Africa’’. Available at: http://documents.worldbank.org/curated/en/358461468194348132/Missing-food-the-case-of-postharvest-grain-losses-in-Sub-Saharan-Africa (Accessed: 20 October 2019).

23. Brookings Institution (2019), ‘‘How off-grid cold storage systems can help farmers reduce post-harvest losses’’. Available at: https://www.brookings.edu/blog/future-development/2019/10/16/how-off-grid-cold-storage-systems-can-help-farmers-reduce-post-harvest-losses/ (Accessed: 18 October 2019).

24. Terazono, E. (2019), ‘‘Choc tactics: Ghana and Ivory Coast plot ‘Opec for cocoa’ ’’, Financial Times, 19 July [Online]. Available at: https://www.ft.com/content/0b45b450-a961-11e9-984c-fac8325aaa04 (Accessed: 22 July 2019).

25. Knott, S. (2019), ‘‘Ghana Adds Charge to Keep Farmers Sweet on Cocoa’’, Voice of America, 7 August [Online]. Available at: https://www.voanews.com/africa/ghana-adds-charge-keep-farmers-sweet-cocoa (Accessed: 14 August 2019).

26. Bariyo, N. (2017), ‘‘Economics and Bad Weather Amplify Africa’s Food Crisis’’, The World Street Journal, 1 May [Online]. Available at: https://www.wsj.com/articles/economics-and-bad-weather-amplify-africas-food-crisis-1493636401 (Accessed: 5 May 2019).

27. International Fund for Agricultural Development (2016), ‘‘Fostering inclusive outcomes in sub-Saharan African agriculture’’. Available at: http://www.fao.org/family-farming/detail/en/c/426367/ (Accessed: 15 October 2019).

28. Food and Agricultural Organization of the United Nations (2018), ‘‘The State of Agricultural Commodity Markets: Agricultural Trade, Climate Change and Food Security’’. Available at: http://www.fao.org/publications/soco/en/ (Accessed: 15 October 2019).

29. Burney JA, Naylor RL, Postel SL (2013), ‘‘The case for distributed irrigation as a development priority in Sub-Saharan Africa’’, Proc Natl Acad Sci USA 110(31):12513–12517. Available at: https://www.pnas.org/content/110/31/12513 (Accessed: 12 June 2019).

30. Dell, M., Jones, B. F. & Olken, B. A. (2008), ‘‘Climate change and economic growth: evidence from the last half century’, National Bureau of Economic Research ,Working Paper Series. Available at: https://www.nber.org/papers/w14132 (Accessed: 14 October 2019).

31. Alagidede, P., Adu, G. & Frimpong, P.Boakye (2014), ‘‘The Effect of Climate Change on Economic Growth: Evidence from Sub-Saharan Africa’’, WIDER Working Paper 2014/017, Helsinki: UNU-WIDER. Available at: https://www.wider.unu.edu/publication/effect-climate-change-economic-growth (Accessed: 12 October 2019).

Tips on How to Hire an Expert Lawyer to Try Your Pending Cases

February 6, 2020

Choosing the right lawyer for your pending case is an overwhelming task because of all the factors that you need to consider beforehand. However, this task can be made easier with just some time and effort put into researching the matter. But before anything else, you need to understand your case and know the difficult terminologies or specifics. Do some research on your case from websites and other places that provide legal advice for people who don’t practice law. With this information, you’ll have a basis of what to look for in an attorney who will represent your case.

The first step is to find a lawyer who specializes in cases similar to the case you are trying to win. Next, you need to read previous clients’ reviews to give you an idea of how this attorney deals with their clients, the cases they handle, and their win rate. Not all cases reach the court, but you can find more about the cases, your lawyer won by searching PACER (public access to court electronic records).

Personal And Business Referrals

Finding the right lawyer for your case isn’t going to happen by simply looking in the phone book or advertisements, or by picking the first lawyer name that comes up in Google search pages. You can ask the people in your life that you trust who had similar cases and won them through their lawyers. No need to limit your options to only people in your life or community, you can also take it further and contact businesses that provide services in the legal area you are after. For example, if you are dealing with an issue regarding small business law, you can speak to bankers and ask them about their lawyers’ suggestions.

Never Depend On Referrals Alone

While asking for referrals is a good start to give you some good ideas to work with, you should never base your choice on them alone. There are other ways you can resort to, to determine for sure if the attorney you chose is the perfect one for your case or not. People don’t share the same perspectives and opinions on lawyers’ styles in handling cases or on how they deal with them. It’s also not smart to accept recommendations from people that experienced different legal issues than yours. For example, if you are facing a case pertaining to small business laws, but sought the advice of lawyers who deal with sexual harassment cases, the legal advice you need might be outside their specialty or not their strongest suit. On the other hand, if you are looking for experts in dealing with sexual harassment cases, Kingsley and Kingsley Employment Lawyers are a great choice.

Always Consider A Specialist

Even attorneys who claim to be “general practitioners” might not have enough experience in the particular area that concerns you. Most attorneys specialize in certain legal areas. For example, if you are dealing with a case of personal injury, your so-called “general practitioner” might not have enough ideas to help you out in your pending case. Instead, lawyers who have had enough specialized experience and cases would be the optimum choice when you need help in personal injury cases. You can also consult a Pregnancy Discrimination Lawyer if you are being stereotyped in the workplace because you are pregnant or a working mother. You can start by looking into the types of lawyers and filter out the ones you think can help you. There you can specifically search for the one who specializes in your concern. Lawyers who have had enough training are more likely to provide you with accurate and helpful legal advice.

Meet Your Lawyer First

When you start looking for prospective lawyers, don’t jump to conclusions and pick a random name! You need to “interview” these prospective lawyers to test out some essential factors that could make or break your case. The following are some of the factors you need to consider:

Personality And Style:

While some people might not pay attention to how your lawyer deals with them or consider it an important factor in choosing their lawyer, it’s rather important. You need to test out the chemistry between you and your future lawyer. If the chemistry is off, it will rather do more harm than you think. You need to choose a lawyer whose personality is compatible with yours.

Willingness To Work With You:

Just because you chose a lawyer, doesn’t mean that they will agree to work with you. Sometimes, the attorney’s rate might be ridiculously high that you will consider representing yourself and only taking legal advice from them. You will need to make sure that the lawyer you choose will be okay with that.

The Payment Scheme:

Some lawyers charge per hour; others will only take fees if they win the case. You need to make sure that you understand and agree to the payment scheme your lawyer asks for.

Pending cases are usually tough to handle. Your case might be complex enough that you will need an expert lawyer to help you reach a solution that will satisfy you. Finding the right lawyer for the case takes some time and effort from your part. Before you go searching for answers on the internet, you need to take personal and business referrals into consideration to make sure that the decision you are about to take is the perfect one. If you don’t trust referrals as they might be overridden with personal favors, you might need to consider reading online reviews from old clients.

Go to top

Great Value UK Golf Breaks

February 6, 2020

Golf breaks in England are always popular due to the amazing golf courses that are all around the country, some of the best courses have also even held Opens such at St Andrews, Royal St Georges, Royal Liverpool and even Carnoustie. These golf courses are always in amazing conditions and have lots of history and culture behind them, some of the most famous golf shots in huge tournaments have been played at these courses. By booking with Golf Holidays Direct we can ensure you amazing value for money on the very best Golf Breaks UK and ensure you play some of England and Scotlands best golf courses. Golf Holidays Direct will be happy to offer you great deals for all society golf bookings such as 1 place in 8 free and also free range balls and buggies when booking your next UK golf break with the experts at Golf Holidays Direct

Some of the very best golf courses in Scotland If you’re looking to visit and experience the beauty, all the best golf in Scotland then why not check out our golf tours in Scotland.

St Andrews, where some say golf began, established in 1843 is one of the oldest clubs in the world. This spectacular links course is comprised of seven incredible courses, and regularly plays host to eh British Open. Ranked as the 5th best course in the world, and home to the 5* Fairmont St Andrews a resort that encapsulates luxury, elegance and truly breath-taking surroundings, there is no better location for a golf holiday in Scotland. The game of golf may or may not have originated in Scotland but to most people whether that’s true or not it is still regarded as the home of golf. There are over 550 courses including links courses, parkland courses, heathland courses and courses that combine all the different elements. Some of the courses are world famous and have hosted the worlds greatest tournaments but everywhere you go you can find quality golf courses that are not on most people’s radar but will provide great enjoyment at a fraction of the top course prices.

If you’re seeking golfing luxury, then why not head to Gleneagles – a ‘golfer’s paradise’ that offers the perfect retreat for anyone seeking relaxation, world-class golf and spectacular beauty. Boasting a 5 star luxury hotel alongside three championship golf courses; The PGA Centenary, The Queen’s Course and The King’s Course, this beautiful 850 acre estate is a golfers paradise.

One of the quickest growing golf break venues in the golfing travel market is the golf & spa break and there are numerous Resorts offering just such a product. Fortunately, they are spread throughout the UK and Ireland so wherever you are or wherever you want to go there will be a fabulous experience waiting for you when booking with golf holidays direct.

Call the expert team now at golf holidays to start arranging your perfect golf breaks in the UK

Go to top

Dean Vganozzi: Before You Talk Retirement and Financial Planning Know Your Requirements

February 6, 2020

This post is written by Dean Vagnozzi, a veteran financial planner and a 15 year veteran of the financial services industry. Dean doesn’t believe in funding your 401K to the max and paying off your mortgage, but that’s the Dean Vagnozzi way—and it’s a strategy that is proving increasingly successful for his clients as he continues to grow and bring on hundreds of clients a year. We hope you enjoy his insight. Without further ado, please welcome the man that is single handedly changing the way we look at retirement, Dean Vagnozzi…

Without proper retirement planning, your retirement years could be a disaster. Unfortunately, all too many people are at a loss when it comes to retirement planning (See Dean’s take on retirement planning). They’re overwhelmed with options, unsure what they really need, and don’t fully understand the pros and cons presented by many retirement and financial planning professionals. Years later, all too many families find themselves in trouble: they haven’t saved nearly enough, they have unexpectedly large tax bills when they retire, or they have no idea how to go about accessing those vital retirement funds.

Planning for the future is more important than ever today—but if you don’t have any idea what you will really need when that day comes, you may find yourself struggling. Choosing the right financial advisor can make a big difference in your overall financial future and outlook.

The Advisor’s Financial Status

You may have heard the expression, “Never trust a skinny chef,” since chefs are eating their own cooking and if it’s good, they’ll probably be carrying some extra pounds. The same goes for your financial advisor: they’re likely following their own financial advice, and if it’s as good as they claim, their finances should be in fairly good shape. Take a look at your financial advisor’s status. You want two things: first and foremost, to find someone who is successful and able to grow your portfolio, and who has proven that success rate; and second, you want to know that your financial advisor isn’t counting on your money to ensure that his bills are paid.

The Right Setup

You’re going to put your financial advisor in charge of many of your financial decisions. In many cases, you will provide the firm with access to your accounts and your money. That means you want a firm set up for success, not a poorly constructed firm still operating out of someone’s basement or spare room. Keep a couple of things in mind.

Bureaucracy and red tape aren’t a good thing. When you have a great deal of red tape to go through every time you need to access your funds, it can take longer to make important financial moves, which could ultimately set you up for failure.

Look for an established firm with the backing needed to succeed. You don’t want a firm that’s just getting off the ground; instead, look for one with a proven investor base. This can ensure a more diverse platform and, ultimately, more security for your money and your financial decisions.

Find a firm whose primary allegiance is to its clients. Many financial advisory firms work directly with big banks and other businesses. While that can certainly provide the firm with a larger financial backing, it also means that, in many cases, the firm’s first loyalty is to those bigger businesses—even if it means potential detriments or losses to their customers. Instead, look for a firm committed to its clients first.

Talk Through Your Needs and Plans

Everyone’s financial situation is a little different from anyone else’s. You don’t want a cookie cutter plan designed to work for “anyone.” Instead, look for a firm that will come up with unique ideas, tailored specifically to you based on your long-term goals and current financial needs. You have unique income, bills, future plans and expectations. Make sure that the firm provides you with a plan tailored for you. Include:

Your life plans
The firm’s plans and philosophy
Your risk tolerance
Your preferred asset allocation
Your financial goals
Your capital needs

Ask About a Proven Track Record

Look at current accounts under management—with all identifying information removed, of course. You want to see what your financial advisors have been able to accomplish for other individuals: how they have taken their existing finances and made it possible for them to expand their investments and portfolios while still meeting their current financial goals. You don’t need to know all the details of the account—and the firm shouldn’t share it, since that’s private data—but you do want to see that the firm has a proven track record of success.

Consider Payment Methods

Many firms work on a base model that requires you to pay them a percentage of the money managed. Often, however, that’s not the best method you can use to achieve value from your financial advisor. Ultimately, you want your advisor to add more value than they cost you. Take a look at the firm’s payment arrangements and consider its value to you. If the firm isn’t adding adequate value, consider looking somewhere else for your financial needs.

Do Your Due Diligence

As with any time you hire someone to do work for you, you must consider the reality of both good and bad workers. There are some great financial advisors out there, but there are also some terrible ones who could cause serious problems with your future finances. Do your due diligence before you hire a new financial advisor. Make sure that you:

Ask for the advisor’s history. Get a verbal history, check the advisor’s website, and do a little research of your own. You can’t have too much information when it comes to the person who will be handling your money.

Check for all necessary licenses and insurance. You want a licensed advisor who carries insurance to protect themselves and their clients.

Look for a clear map of any fees associated with working with a particular advisor. Be wary of any advisor or professional who does not clearly disclose the cost to work with them. You may need to contact a financial advisor directly, rather than relying on a website to get that information; however, before you sign a contract, you should clearly understand all the expenses you’ll face.

You’ve worked hard for your money now. With proper planning, you can take full advantage of that hard work so that you can enjoy the fruits of your labor throughout your working years and into your retirement. You shouldn’t feel that you have to jump the gun and make a fast decision when the time comes to choose a financial advisor. Instead, take the right amount of time to consider your options and choose the right advisor before moving forward.

Meet Dean Vagnozzi

When you see a family member having unprecedented financial success through unique investment techniques and strategies, you want in on the game—and that’s exactly how Dean Vagnozzi got started.

After graduating from Albright College in 1990, Vagnozzi quickly discovered that the life of a traditional accountant wasn’t for him. While crunching numbers brought its own sort of pleasure, he didn’t want a boring life behind a computer screen. Instead, he wanted to interact more directly with people, providing them with increased financial opportunities. More importantly, he recognized the futility of the current retirement model and set out to improve on it, not only for himself, but for friends and family members, as well.

After watching the stock market decline for three consecutive years, his 401(k) declining along with it, Vagnozzi was ready for a different solution. Utilizing a $70,000 life insurance policy, he made his first investment in real estate. Within the first year, he had made $70,000 in profits.

With a strategy that seemed to be genuinely working, Vagnozzi continued his investment strategy, purchasing 15 more rental properties. His profits continued to increase as he learned more, both about the system and the opportunities available to him. Friends and family members wanted in, allowing him access to bigger investment opportunities through crowdsourcing—and he was able to help them reach their overall retirement goals, as well.

The 50-year-old president of A Better Financial Plan, LLC, now seeks to provide better investment opportunities for all of his clients, helping their money work for them now, in the present, rather than tying it up in plans that fail to help his clients meet their ultimate financial goals. Since 2010, the firm has invested more than $150 million for more than 1,000 clients—and Vagnozzi continues to see high levels of success for all his clients. His unique investment strategies and advice provide unprecedented financial opportunity, including paving the way for a retirement strategy better than most of his clients thought possible.

Vagnozzi, who lives in Pennsylvania with his wife and four children, is passionate about securing opportunities for his clients by using a real estate investment strategy that genuinely works. As an avid reader, he continues to pour over a variety of financial books and keeps up with the latest changes in the real estate industry, allowing him to continue to provide his clients with the advice they need.

Go to top

Innovative Solutions Introduced into Bay Area Housing Market

February 5, 2020

Many residents of the Bay Area dream of owning their own home. Unfortunately, the reality of homeownership in the 9-county Bay Area is a pipe dream. According to Vital Signs, the median home price in the Bay Area is currently $996,000 +, a figure out of reach for low- and middle-income earners. The Silicon Valley tech boom in the years following the economic recession was a runaway success, leading to an unprecedented influx of highly skilled computer engineers, programmers, developers, and entrepreneurs. Unfortunately, this resulted in excess demand for housing, and sharp price appreciation.

The Bay Area housing market has failed hopelessly to keep pace with rising demand, resulting in astronomically priced homes and rentals. Despite the best efforts of local mayors, and the governor of California, a massive supply shortage remains the order of the day. While most developers focus on the high-end market; other real estate developers have turned their focus on middle-income earners with a dazzling array of affordably-priced options. Thanks to some notable changes in the Bay Area property market such as a cooling of housing prices, the tide may be starting to turn, for the better.

Even though prices are rising at a decreased rate, they are still terribly overpriced. Data from Curbed.com, reputable real estate journals, periodicals, and news sites, show that the cost of housing across California, and notably San Francisco’s Bay Area is untenable. 10 years ago, an average apartment in San Francisco would cost approximately $230,000. Today that same apartment costs approximately $700,000 to build from the ground up. Many Californians simply don’t have the wherewithal to meet the costs of living. Some 1.7 million+ rent-burdened Californians exist, far higher than the nationwide average. The California state legislature appears helpless to combat this scourge and it is left to individual counties and private property developers to rectify the situation.

Tackling the Housing Crisis in the Bay Area

In 2018 a census in San Francisco revealed that some 38,651 homes were vacant in San Francisco, despite the fact that the city has a massive homeless problem. Various studies indicate that the number of vacant homes in the Bay Area now exceeds the homeless population, yet so many problems persist. Vacant homes have been defined as vacant units for sale, vacant units rented or sold, or vacant units for rent by the U.S. Census Bureau. The specifics of why there are so many vacant properties and such a big homeless problem often spill over into peripheral areas like homes currently on the market, homes waiting to secure new rentals, homes undergoing renovation, et al. Prices remain high, irrespective of the vacancy rate.

When quizzed about the housing crisis in California and the Bay Area specifically, many residents believe it’s not a question of a housing shortage; it’s a question of housing affordability. The houses exist; they are simply too expensive for people to buy or to rent. Enter Danny Haber of oWOW, an innovative real estate development company operating in and around Oakland, California. As the CEO and co-founder of this vertically integrated company, Haber brings tremendous expertise to the fore in this rent-burdened market. His specialty is the provision of luxury housing below market price. The real estate development company is tasked with upgrading accommodations by maximizing the current square footage through the use of magic walls (flexible wall system) and pre-built designs.

The runaway success of this company’s developments are evident in several communities, including 674 23rd Street, 1919 Market Street, 960 Howard Street, and 316 12 Street. Through careful and methodical reinvention techniques, the company has developed a set of repeatable designs that can be fully customized to preferences, saving time and costs in the process. These MacroUnits have the capacity to transform standard 1-bedroom/2-bathroom units into 2 bedroom/3 bedroom/4 bedroom units without expanding beyond the set square footage. Costs are kept low by dint of the fact that everything is vertically integrated to cut down on expenses and pass the savings on to consumers. With several successful launches to date, oWOW is an example of how private enterprise can affordably carve out a niche market in an overpriced housing market.

Lots more work needs to be done in the greater Bay Area, but current developments are certainly a step in the right direction and communities are being built around affordable housing developments.

Go to top

1...1,0091,0101,011...1,129 Page 1,010 of 1,129

FOLLOW US!

EDITOR'S PICK OF THE WEEK

CFO's new mandate. CFO explaining the presentation

The Performance and Transformation Orchestrator: The CFO’s New Mandate in the Age of AI

Anglea 0

By Terence Tse CFOs are evolving into AI-driven transformation orchestrators, balancing finance, technology, and strategy while upskilling teams, managing risks, and driving measurable business value. A key insight from this year’s AI for CFOs event, organized...