Product Liability: What it Is, Why it Matters

April 13, 2021

Thousands of injuries are caused by defective products each year throughout the US. There are three main types of product liability, 1) design defects, 2) manufacturing defects, 3) marketing defects. As for the person to be held liable, this can be anyone from the manufacturing to the distribution chain.

Product liability laws are in place to protect consumers from any harm that might come to them from using any merchandise. Also, it helps the injured receive compensation.

What is Product Liability

Product liability refers to who is liable when a product causes any damage to a user. The person or entity responsible for the incident can be anyone from the manufacturing or distribution chain. Furthermore, they may be exposed to product liability lawsuits to answer for the injury they have inflicted.

All items on the market should satisfy the expectations of clients and not disappoint. Most importantly, these should in no way endanger the well-being of the users. Such laws are in place, so that the victim may receive some compensation for the injury they have suffered. However, it also helps prevent similar incidents from occurring in the future and injuring more people.

If you are wondering what kind of products qualify for this discussion, know that the list is long. To begin with, the talk is not limited to material objects; the definition was stretched out to intangibles that are subject to product liability laws. Here are a few items, which you might not known qualify:

Intangibles (e.g. electricity and gas)
Real estate (e.g. house)
Writings

Types of Defects

For a valid case, it is necessary to prove these two things: 1) the product in question was faulty and 2) the product became very dangerous on account of the defect. In the next section, we will present the three types of product liability and offer an illustrative example for each case. Sadly all kinds of customers can be exposed to injury, including our beloved pets (in the case of pet products) and even children.

Design Defects

These defects occur before manufacturing and are inherent to the merchandise. The plan for the product is erroneous and exposes the user to danger. Clackers, the popular toy during the 1960s and 1970s, is a good example of a design defect.

The idea behind the toy was pretty simple. It is made of two balls hanging from a string, which are swung around. However, the problem was that the balls were made from acrylic, and they often shattered upon impact. Many users were injured by splinters flying around.

Manufacturing defects

These types of defects appear during product assembly, so not all of the items have it. A rather famous example of this was the toy Aquabeads. In case you are not familiar with it, the set contained plastic beads of different colors, which were used by kids to create all kinds of designs. However, some of the beads were found to be toxic. Several children around the world were hospitalized on account of these.

An inquiry uncovered that some sets were made with a different substance than the designers intended. This substance was cheaper, but it was also dangerous when ingested, it acted like a pharmacologically active sedative.

Marketing Defects

These appear in the final stage, in how the item is presented. Here the error can be anything from a laconic label to missing instructions. So, if a product fails to warn against all types of hazards, it may leave the door open to a possible lawsuit. This is why you will find some pretty absurd reasons behind particular items having very long warning labels with some rather strange entries.

Recently a story made headlines in the news about Tessica Brown who ran out of hairspray and used Gorilla Spray Adhesive on her hair. She posted a video, which quickly went viral, about the predicament she found herself in, asking for help.

Many people stepped up and offered their assistance, including Beyoncé’s personal hairstylist, and plastic surgeons. She recently underwent a procedure offered to her for free by Dr. Michael Obeng, during which the glue was successfully removed.

The warning on the bottle does specify that the glue should not be used on skin or clothing, that it must not get in the eyes, and it must not be swallowed. However, it does not explicitly state anything about hair. Should it? How long should a warning label become?

Although rumor had it that she decided to deny claims and sue the company, she has recently dismissed such claims. However, this fueled heated discussions among specialists about the validity of a possible lawsuit.

Product Liability Claims

Product liability laws are only under state jurisdiction, so they may vary greatly depending on the location. Besides, warranty rules relating to product liability may also be found in commercial statutes, based on the Uniform Commercial Code. In an attempt to bring a degree of homogeneity, the Model Uniform Product Liability ACT (MUPLA) was published by the United States Department of Commerce.

Due to the lack of federal law on product liability, based on the state jurisdiction, the theories evoked by product liability claims are:

Strict liability
Negligence
Breach of warranty

It is the manufacturer’s responsibility to ensure that their product is not harmful to the user. This means that any preventable danger should be avoided. If you do get injured, you can be eligible to receive financial compensation.

Source: https://www.pintas.com/chicago-personal-injury-lawyer/

Why Product Liability Matters

Product liability laws are in place to offer some compensation to those injured by a defective product. Also, they help prevent similar incidents from occurring in the future. These laws are different in each state, and they are subject to periodical updates. If you have been injured in any way by a product, consider contacting a qualified lawyer. They will have in-depth knowledge of the law, and upon reviewing your case, they can help you get a fair settlement.

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About the Author

Kyle Hambright is a passionate writer proudly representing Pintas and Mullins Law Firm. He has focused his legal career on personal injury cases, and throughout his practice, Kyle has helped people from all walks of life. This determination transpires in his writings as well. His articles translate the complex web of legal jargon into accessible text. Readers not only gain a firm grasp on theory, but they also learn how to put it into practice.

How to Get Your First Bitcoin? Follow the Steps!!

April 13, 2021

Are you looking for a way to invest in Bitcoin? If yes, then you have come to the right place. Here, you will find details regarding how to get your first Bitcoin. Every Bitcoin investor knows that mining Bitcoin is no longer profitable for beginners.

And if you are starting and don’t know about the world of Bitcoin, in that case, you can consider buying a Bitcoin rather than mining them. You should know that purchasing Bitcoin is pretty easy. And there are only two ways to get Bitcoin in your cryptocurrency wallet either you will mine one, or you can purchase it from a reliable Bitcoin exchange. If you don’t want to indulge in Bitcoin mining activities, you can consider purchasing Bitcoin.

All you need to do is follow several steps to buy your first Bitcoin. But before that, you are required to have the necessary government-issued IDs and internet access camera, pen, utility bill, and paper. And you also have to consider what kind of payment method you are likely to use for paying the trade amount. Once you have gathered all the required documents, then you can start the process of purchasing Bitcoin.

Select Trustable Exchange

There are several factors that you have to consider while choosing the most trustable exchange for purchasing Bitcoins. First, you have to ensure that the Bitcoin exchange that you have chosen provides its services in your country. You should know that some of the best exchanges offer their services in selective countries only because Some countries have their law and order. Some of the Bitcoin exchange focuses on North America while others just on Europe.

You also have to ensure that the Bitcoin exchange accepts your payment method. For example, if you are thinking about buying Bitcoin using a credit card, that means you need to register with a Bitcoin exchange that allows you to pay from a credit or debit card. And there are several Bitcoin exchanges which are accepting every mode of payment. So, it would be great for you to do a proper search before registering with a Bitcoin exchange platform.

Register And Finish Your KYC

After choosing the most reliable, we can exchange, you have to create a user account. Once you sign up, you should know that the exchange platform will not allow you to trade Bitcoins without completing your KYC (know your customer) process. However, the process of getting verified is very simple as you already have the necessary documents and government-issued ID for completing your KYC.

In order to get verified, you need to click on the “verifying your account” button in https://bitcoin-prime.app or another application, which you will find on the homepage. Since every Bitcoin exchange is integrated with a different verification process, so you need to follow along with the information offered by the exchange. In a nutshell, you have to provide a picture of your government-issued ID (front and back).

The Bitcoin exchange mainly requires you to write down the exchange name and the date on a piece of paper and click the selfie while holding it straight, or you have to click a selfie with your government-issued ID. Though, you should know that the world creation process may take around 10 minutes to an entire week, depending upon the verification team.

If you want to get verified instantly, you should choose an exchange, which will provide you with same-day verification. Individuals should know that they are too kind of verification levels that are higher-level verification means you can make large payments or pay fewer transaction fees. Make use of the original government-issued ID; otherwise, you might see yourself in some trouble.

Select The Payment Method

Once the KYC is completed, you can set up your payment methods. The exchange will provide you with simple steps in order to register a bank account with the platform. Moreover, it will exchange your Fiat currency using inexpensive means, making it easier for you to make payments.

Buy Bitcoin

The exchange will provide you with two options: either you can buy Bitcoin from the exchange authorities, or other members register with the same exchange.

These are the steps that you need to follow for buying your first-ever Bitcoin.

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How To Personalize Your Marketing Campaign

April 13, 2021

Online commerce is growing at a rapid rate. It’s estimated that 2.14 billion global buyers will shop digitally in 2021, compared to just 1.66 billion five years earlier. Businesses positioned to serve these online consumers are in a great place, but there are still some challenges to serving customers through the internet. Personalization is tricky when you can’t look shoppers in the eye or engage in a face-to-face conversation, but it’s not impossible. Try these tricks for offering a unique experience that will leave an impression.

Offer a VR Trial

Virtual reality makes it possible for online customers to digitally experience your products before buying them. This is a powerful way to connect with consumers who are considering your items but aren’t yet sold. Consider investing in a custom app that will let potential shoppers upload a photo and try on your makeup, or point their camera at an empty wall and see a preview of your art hanging there. This type of experience brings your products right into the consumer’s home without the need for physical samples or costly physical trials and product returns.

Connect on Social Media

Personalize your social media campaigns with fun filters, quizzes, or games that utilize shoppers’ data to deliver results that are carefully tailored to their personalities. For example, Cadbury developed a platform that would recommend a candy flavor based on the user’s Facebook data, once that user gave their consent. You might offer a photo filter that suggests makeup looks after analyzing skin, hair, and eye tones, or offer vacation suggestions based on the locations where an individual has previously checked-in or tagged themselves. These types of experiences make each interaction unique to the individual and leave a lasting impression.

Send Handwritten Notes

Handwritten notes are a powerful way to pull an online company into the physical world. Personalized mailers can still connect with customers in today’s digital age. Those that are designed thoughtfully can even pack a stronger punch than they might have in the past simply because the concept of the ink-and-paper letter has become largely obsolete. Using a company like Handwrytten, you can find many unique ways to say thank you with physical letters that feature a distinctive script and ink that perfectly mimics a human hand.

Provide Personalized Gifts

Coupons, discounts, and gift cards are always welcome, but these carry even more meaning when they’re personalized. Use data from your customers’ previous purchases or online activity to provide them with promotions that are unique to their needs. Evaluate items that were left in abandoned shopping carts or added to wish lists and provide little gifts that are designed to satisfy the exact wants of your shoppers.

Personalized marketing campaigns are a great way to make your company stand out. You don’t need a brick-and-mortar store to make a lasting impression in your customers’ minds. Thoughtful campaigns that treat each individual in a unique manner will offer a welcome change from boilerplate messages, helping your business make its way to the head of the pack.

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Islamic Economy Brand: Paving Indonesia’s Way to Become the Global Islamic Economy Hub

April 13, 2021

By Anya Safira and Fadhil Akbar Purnama

Indonesia’s vision and rising position

As the world’s largest Muslim-majority country, Indonesia is helping to shape the bright future of the global Islamic economy.

The State of the Global Islamic Economy Report 2020/2021 estimates total Muslim spending in 2019 was about $US2.2 trillion and will rise to $US2.4 trillion by 2024. Indonesia has massive potential as a key player, particularly in the global halal industry, but it must take strategic action.

In 2018, Indonesia outlined its vision to become a leader in the global Islamic economy. This plan was further developed in the Indonesian Sharia Economics Masterplan 2019-2024 which aimed to achieve four goals: 1) increase the scale of sharia businesses; 2) lift Indonesia’s ranking in the Global Islamic Economy Index (GIEI); 3) increase the country’s economic independence; and 4) boost the welfare of Indonesians.

Since introducing the plan, Indonesia has proudly watched its GIEI ranking jump six places in two years – from 10th (2018) to 4th (2020) – as greater government support and a rising awareness among the public and the media helped shift consumer attention to the Islamic economy.

Assessing factors such as knowledge, awareness and governance, the 2020 Islamic Finance Development Indicator (IFDI) placed Indonesia in second position. Indonesia’s success in nurturing its blossoming Islamic finance ecosystem also awarded it the silver medal in the Global Islamic Finance Report (GIFR) 2020. Such impressive recognition proves Indonesia is on the right track to achieve its “Masterplan” vision.

However, the path still has many obstacles. For instance, the 2019 Financial Services Authority (OJK) showed Indonesia’s Sharia Financial Literacy Index was a measly 8.93%. Another survey in 2019 by Bank Indonesia found similarly low numbers (16.3%). Clearly, Indonesia must do more to improve public awareness about Islamic economic and finance literacy.

So, creating a brand to better communicate Islamic economic values – and what they bring to both Indonesia and the world – will be a great way to increase awareness and unify efforts. This is the purpose of the Islamic Economy brand.

Inauguration of the Islamic Economy brand

The final brand design was the result of a competition held at the 7th Indonesia Sharia Economy Festival (ISEF) 2020. The ISEF was a collaboration between Bank Indonesia and the National Committee on Sharia Economics and Finance (KNEKS) which attracted a total of 16 government leaders and more than 700 candidates. The winning Islamic Economy logo was finally inaugurated by President Joko “Jokowi” Widodo and launched the National Cash Waqf Movement.

The brand represents a national movement and will be used by all ministries, institutions and stakeholders engaged in Islamic economics and finance activities. A special guidebook also assists anyone using the brand so they can increase awareness about the Islamic Economy as a joint movement striving for people’s welfare. The brand is a new identity for Indonesian workers aiming for excellence at the global level.

Urgency of the Islamic Economy brand: A marketing perspective

Branding is the process of giving a consumer the right meaning about a specific organization, company, product or service. A brand can trigger certain associations, such as quality, tastes or design, and can even evoke emotional reactions.

The most basic element of a brand is identity – what the brand is and is not. Inspired by the Islamic phrase rahmatan lil alamin, the Islamic Economy brand carries the tagline “Value for All,” which underlines a deep embrace of inclusivity and describes how the movement will contribute to the prosperity of all Indonesians, regardless of faith.

The Islamic Economy brand also highlights how the Indonesian government has shifted to view the whole Islamic economy as holistically integrated and the importance of its support for the halal industry, Islamic social finance and other subsectors. Finance Minister Sri Mulyani Indrawati said the government’s efforts to promote, accelerate, expand and integrate the Islamic economics and finance sector will contribute to national economic resilience.

The brand’s marketing strategy uses the model of umbrella branding (family branding) in which a single name is used to represent multiple related products. In this case, the Islamic Economy brand covers everything from halal cosmetics and pharmaceuticals, Muslim-friendly tourism, Islamic banking and finance to halal food, modest fashion and social finance.

Umbrella branding was first introduced by economist Birger Wernerfelt (1988) who noticed that consumers tend to pool their experiences of multiple products to infer their quality. Researchers Erdem and Sun (2002) also found evidence of spill-over effects for umbrella brands due to advertising. The recent merger of three Islamic banks into PT Bank Syariah Indonesia Tbk (BSI) has increased awareness of how Islamic banking might help in the recovery of the Indonesian economy after Covid-19. It is hoped that umbrella branding may transport people’s positive views about BSI and other Sharia companies to create a single huge brand equity. This will build towards Indonesia’s goal of becoming the center of the global Islamic economy.

Umbrella branding is a way for products or services planned for the future to piggyback on existing brand awareness (Sullivan, 1990). It also enhances marketing programmes while increasing demand for new products (Erdem, 1998). In other words, this strategy may be crucial in lifting people’s interest in new products like cash waqf.

The way forward

The Islamic Economy brand shows strong commitment from the government to lift Indonesian awareness and accelerate the integration of the entire economy and finance sectors.

But implementing umbrella branding and achieving Indonesia’s “Masterplan” vision will require close coordination between the government, regulators, industry players and civil society. As the new brand logo can be used by any ministry, institution or stakeholder in the Islamic economy, it will require a consistent communication theme.

So, setting up an Integrated Marketing Communications (IMC) process will be a vital element in building the brand (Madhavaram, Badrinarayanan & Mcdonald, 2013). The American Marketing Association defines an IMC as “a planning process designed to assure that all brand contacts received by a customer or prospect for a product, service or organization are relevant to that person and consistent over time.”

An IMC can deliver a consistent message about a unified drive in the Sharia economy. To do this, Kitchen and Schultz (2000) identified four stages of an IMC process: tactical coordination of promotional elements, redefining the scope of marketing communications, application of information technology and the financial and strategic integration.

The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of their respective institutions.

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About the Authors

Anya Safira is a lecturer at the Faculty of Economics and Business Universitas Indonesia, teaching Islamic Marketing courses. She is an NZAID Scholar who received a Master of Commerce (in Marketing) degree from Victoria University of Wellington. Her thesis discussed Islamic perspectives on advertising.

Fadhil Akbar Purnama is currently a Sharia economy and finance analyst at Bank Indonesia. He is an LPDP awardee who holds a Master of Islamic Finance and Management degree from Durham University Business School, and has extensive work experiences in various national and international institutions, always in the Sharia economy and finance sector.

Youtuber Stacksmashing Turns a Bitcoin Miner from Nintendo Game Boy

April 13, 2021

There seems to be big and interesting news coming out at the moment when we see a young and popular YouTuber known as Stacksmashing claimed about mining bitcoins from a 31-year-old game. He released a video where he explained how he had hacked a 1989 invented game called Nintendo Game Boy for mining bitcoins. Despite all the odds the miners face, the young Youtuber was able to do it with different creativity for doubling batteries. The Youtuber stated that by using the eight-bit handheld game console, he was able to read something interesting, which remains as powerful a thing as any modern miner in the digital currency world. Now, let’s dig in deep as to what has happened and how the YouTuber was able to do it.

Mining Bitcoin with the help of the Game

In order to understand how things worked, you need to go four years back where a few people were seen creating some interesting ideas and methods to mine and then network with several Bitcoin networks for more information you can visit the official site. For example, if you check the digital currency expert Ken Shirriff who is the man behind giving the symbol of bitcoin to the world, one can see him adding a Unicode that has proved to the world that how the mining of bitcoin is possible with the idea of an old and interesting tool called Xerox Alto. One can find the PC to be a classic machine that remains the first tool to add a number of graphics or GUI in 1973. At the same time, in the year 2015, one can find Sheriff also mining bitcoin with an old man’s company called IBM. Besides this experiment, one can find the person also developing a new system called Nintendo Entertainment System for the miners. Now, let’s look at what the YouTuber has to say in his video.

The latest video from the YouTuber has tried to access and play around with the help of a 31-year-old handheld game that was played with a console known as a Game Boy. It is very much similar to the NES Miner, which the YouTuber has tried to do by connecting the console to the Link Port in order to connect things directly over the BTC Network. He was also able to join the people with the help of this open-source based game boy tool kit that was written seeking the help of a computer language called C program. He was also to use the SHA256 implementation seeking the open-source firmware that seemed created seeking the Trezor hardware wallet producers. At the same time, the YouTuber also managed to connect the said game console to Bitcoin networks and take away the money. In this way, he was able to mine the money in less consumable items along with less electricity as required in any traditional method of mining the coins.

The Speed of the Game vs. the modern-day traditional miner

With the said game device, all you could mine is round 0.8 hashes per second, which is around 0.0008 kilo hash) and the YouTuber Stacksmashing was able to showcase the modern-day machines using the modern-day machines that are able to harness around 100 terahashes per second (TH/s). This simply means that the speed of the Game, when compared to the other factors, is around 125 trillion effective, and thus the YouTuber was able to make things smoother. A single unit of BTC was able to harness around a few quadrillion years that would be needed to mine, seeking the help of the classic Game Boy.

The YouTuber was able to teach some simple methods when it comes to making Bitcoin mining work with the help of the game tool called Game Boy. But at the same time, the YouTuber is able to help the audience in some way or the other by educating them about mining the bitcoin blocks. With some amount of innovation and ingenuity, one can find people really trying to mine bitcoin with several crunching numbers. Ken, on the other hand, was able to explain it theoretically, although not practically, but sooner or later, he can put things on paper about the idea of mining the bitcoin. Well, let’s wait and watch!

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Good governance is the missing prescription for better digital health care

April 13, 2021

By Linying Dong

Recently Ontario released its Digital First for Health strategy — aiming to further digitize health care and end the problem of overcrowded hospitals and “hallway medicine.”

While applauding the government’s continuous effort to improve quality health care through digital health, one can’t help wonder about the bumpy journey this has been to date.

It has been a journey involving large financial investments — from the launch of Canada Health Infoway in 2001 to use technology for more efficient delivery of services, to the billion-dollar project eHealth Ontario in 2008 to create electronic health records.

However, despite being the most expensive universal-access health-care system in the Organization for Economic Co-operation and Development (OECD), the Canadian health-care system continues to grapple with chronic challenges. These include skyrocketing health-care costs, unbearable wait times and an aging population.

It is puzzling that one of our most cherished Canadian institutions — our public health-care system — struggles to reap the benefits of the digital revolution, while other industries such as banking and retail have already harnessed advanced technologies to deliver fast and convenient services.

The reason: our health-care system lacks good governance.

Software systems must work together

For example, one key contributor to the hallway medicine issue is the lack of system interoperability.

In other words, multiple software systems are needed to support the transition of a patient from hospital care to community care. In Ontario, the Client Health and Related Information System (CHRIS) helps this process and is available province-wide.

Unfortunately, some EMR systems are not interoperable with CHRIS and as a result, care plans are faxed, duplicated and not always synchronized when updated. The result: a long waiting time to transition a patient, which results in hallway medicine.

There are other painful effects of our fragmented health-care systems: hospital readmissions and excessive wait times for medical diagnoses and treatments, to name just two.

What is more, the current piecemeal approach to digitization will not prepare our health-care system for the aging population. This will result in an increase in elderly patients who have multiple chronic conditions and require care from multiple service providers.

A change of mindset is needed

Granted, significant improvements have been made in different provinces. According to the Canadian Medical Association 2017 Physician Workforce Survey, more than 82 per cent of primary care doctors used an electronic medical record system across provinces and 85 per cent of primary care doctors accessed lab results and notes electronically.

Hospitals and health-care agencies have also allocated significant resources to modernize their IT systems and embrace IT into their daily operations.

However, the key issue here is to change the mindset that more technologies will cure our health-care system. While it always sounds exciting to introduce new technologies in hope that they will do wonders, more systems would not fundamentally address the painful issues Canadians have been experiencing.

Transparency and accountability

Instead, we need a governance structure in place — to fund only IT investment initiatives that are interoperable with existing backbone systems. Better data access should be achieved not through fax machines, phone calls, post mails, printouts and emails, but through seamless integration of technologies that allow data to be communicated without losing its accuracy, completeness and timeliness.

Good governance stresses transparent funding policies and accountability that links investments to outcomes. Private organizations rely on governance to reduce costs and make businesses agile and scalable. The number one component of the national e-health strategy recommended by the World Health Organization (WHO) is governance.

However, governance has not yet been paid much attention to by either government officials or health-care service providers. It explains the bumpy road we have experienced in our path of health-care digitalization.

As technologies are deeply ingrained in our health-care system, it is critical to have better governance — in order for Canadians to enjoy world-class digital health care.

The article was first published in The Conversation

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About the Author

Linying Dong is a Professor, Ted Rogers School of Information Technology Management, Ryerson University. She Graduated from Richard Ivey School of Business in 2004, Dr. Dong has actively engaged in research, teaching, and services, and become a valuable member of Ted Rogers School of Information Technology Management (TRSITM).

She has published in top tier IS journals including Journal of Information Technology (JIT), European Journal of Information Systems (EJIS), and Information Systems Journal (ISJ), and won Best Paper Award (AMCIS 2000), Meritorious Award (ISECON 2006), and highly recommended for Awards for Excellence (Emerald 2009) for her publications. Dr. Dong has also been awarded various internal and external research funds (e.g., SSRHC, OCE, Mitacs).

How Pro Golfers Manage Their Finances

April 13, 2021

By Jordan Fuller

It’s no surprise that pro golfers bag millions of dollars after winning major golf tournaments such as The PGA Championship, the Masters, and the U.S. Open. However, while pro golfers enjoy the euphoric rush of victory, could they avoid the temptation of spending their earnings on luxury?

Let’s hear it from the pro golfers themselves. In this article, the world’s greatest golfers discuss how they handle their finances.

Jim Furyk

Pro golfer Jim Furyk bagged a total amount of $270,000 when he won his first tournament. But learning to handle a huge amount of money is already natural to Furyk, who sticks to a conservative financial management style.

During his first tournament, Furyk shared that he had only saved a little money for himself and even had his grandmother pay for his expenses. He said, “I grew up in Lancaster, Pa., which is a pretty conservative area, so when I first started earning money, I put it away for the future. My father is careful with his finances and he helped me plan what to do with my money.”

Now, Furyk is well-aware of the benefits of hiring a financial team, noting that there are far more people who can better handle his money for him. He said, “It’s important to seek good help from several people, so you diversify the advice you get. Diversifying helps you avoid getting duped by scam artists, too.”

Above all of these efforts and despite earning hundreds of dollars, Furyk learned to manage temptation and to prioritize saving for the uncertainties of life. He gives credit to his father, who he deems as his coach and mentor.

Rickie Fowler

Bagging a total of $36.4 million throughout his career until 2019, Rickie Fowler is a fan favorite, thanks to his flashy golf uniforms and his uncanny ability to continuously advance to the final rounds.

Fowler is competitive on the course just as he is on money: “I have a couple [of] financial guys that help me with some stuff. My portfolio is pretty strong.” He also noted that he is channeling a more progressive approach with his investments.

Justin Rose

Until 2019, Justin Rose has received a total of career earnings amounting to $51 million. As one of golf’s classiest players, he knows how to hit the right swing in the financial realm, too.

Rose is aware of where to put his focus: in his golfing career. Therefore, he opted to hire a team of financial professionals to make money matters more manageable for him. He said, “I really put a lot of trust in the team at Morgan Stanley. I am at a stage in my career where it’s about focusing on the golf — I feel like I am in the prime of my career.”

His goal and motivation for proper financial planning? His two dear children.

Jordan Spieth

The 28-year-old three-time major winner and 2015 FedEx Cup champion knows how to ace his game on the course and in the financial world.

His financial literacy is molded throughout the years with his father, a business manager, by his side. “My dad has been my business manager to an extent for four, five, six years now — he has a lot of experience. Certainly, I try to pick the brains of any CEOs I am in the room with.”

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About the Author

Jordan Fuller is passionate about golf and business. As a golf enthusiast and a writer, he had his works published in Golf Tips Magazine, FORE Magazine, GolfMagic, and USGolfTV.

Resources

https://www.rbcwealthmanagement.com/je/en/research-insights/what-golfer-jim-furyk-can-teach-athletes-and-you-about-managing-money-ca/detail/
https://sports.yahoo.com/how-golfs-biggest-stars-manage-their-money-125833251.html

Work from Home: Expectations vs. Reality

April 13, 2021

The concept of remote work has been met with its own set of expectations and misconceptions, but the reality of working from home might come as a shock for some people altogether!

To be able to work full-time at home is the ultimate millennial dream. For those who used to spend 2-3 hours alone commuting to and from their office, it is especially a dream come true. But as with anything in life, there are two sides to the same coin; and working from home brings with it its own set of pros and cons that everyone needs to take into consideration.

Those who have started working from home as a change from working in an office environment are finding their expectations might not be the reality, the same way those accustomed to the flexibility of remote work will find it hard to adjust to the structured dynamic of regular office hours.

However, if you’re expecting work from home to be a lax and rewarding experience as compared to the run-of-the-mill 9 to 5 jobs most people are accustomed to, you might want to reign in on your expectations a little.

Let’s debunk some theories about remote work, and set you up with a realistic expectation on what you can get out of such an unorthodox setup.

Scheduling conflicts

If you’re remotely employed, you might think there’s no need for an alarm clock because you can start your day, and by extension your work, any time you want. However, you could not be farther from the truth.

Working from home will still have its set office hours. You will still be given project deadlines to meet and working hours to respect, out of obligation of being a stand-up employee who wishes to do good by their company. This model is efficient for remote workers who can routinely collaborate and check in on each other’s progress, holding one another accountable for their respective tasks. You can set up conference calls and zoom meetings as you normally would in your corporate office.

Yes, there is absolutely no need to wake up at the crack of dawn to catch that 6:30 train to the metropolis, but it does your self-discipline and overall work ethic well if you still imposed some semblance of routine in your workflow. Even if your contract is project-based that doesn’t demand you to put in x number of hours, creating a schedule for yourself and sticking to it might go a long way in terms of your overall outlook towards remote work.

Work-life balance

Most people think that because the only commute you’d need as a remote worker is the bed to your desk, therefore you won’t get burnt out as much as regular corporate employees do. But this is largely false.

Being burnt out is not exclusive to remote workers, it can happen to anyone. It has nothing to do with the circumstances of your working model, but more on the general disposition with which you regard working altogether. If you view it cynically from the start, the isolated work set-up will only serve to aggravate your feelings further.

But if you embrace your situation and make the most out of it, you’ll find yourself looking forward to the many privileges you get to enjoy being able to work in the sun and get paid for it.

Working hours

Another common misconception people often think of remote work is that they can stop working anytime they want and just Netflix and chill if they choose to do so.

This is not the case for a majority of people working from home. In fact, because of the removal of the structure of a set workload and working hours, most of them find themselves working from the early hours of dawn late into the night. Tasks that aren’t completed from the day before can end up becoming work to tend to over the weekend. It can be hard to not bring the work home, when you are working at home.

Getting a solid grasp of how you can maximize productivity while working from home, without sacrificing your sanity, can prove to be an optimal setup.

Productivity output

Working in a standard office can often lead to us underestimating the power of the internet because much of our workflow demands us to rely on the stable connection speed. When it goes off, it’s no fault other than external factors such as the internet provider, but never the employee. Bosses cannot fault their staff then for a delay in productivity.

Home WiFi and work WiFi are way more often than not different from each other, the latter being especially calibrated to be able to take on multiple servers and personnel without sacrificing quality. Working from home, relying on home WiFi, is an entirely different matter. Sometimes it cannot be trusted and sometimes it can, but on the times it conveniently goes out during an important meeting or brief, it’s quite hard to justify it without your boss doubting the true intentions of your explanation.

Communication is the key to handling remote work teams, and giving your boss the heads up of possible interruptions beforehand creates a relationship of trust shared among everyone else who may be going through faulty connections.

Overall work environment

The overall lack of human interaction can have many compounding effects on a worker’s productivity, psyche, and ability to socialise. Without a proper communication tool, it makes quick questions that you would normally ask with ease in the office cubicles more of an extended process via email. It makes the entire process more tedious than it should be. There is also a lack of authenticity in your work when you spend most of it staring back at the glare of a computer screen.

Having a focused work environment can be the thing that makes or break your entire remote work set-up. One’s surroundings can have a compounding effect on their ability to focus and stay productive, and even affect your mood.

Investing in some sensible, affordable ergonomic office furniture to set up a minimalistic and discreet but comfortable home office will do wonders to boost your morale. Ergonomic office chairs, or even just dedicated tables for working, can completely transform your outlook in remote work for the better. Lay the finishing touches with decorative elements that bring a sense of calm to your day to day – Candle Kiosk’s pillar candles are perfect for upping your home office set up.

Some people say that with working from home you can start sooner and end sooner, start later and end later. Everyone approaches it differently according to their work ethic, preferences, and overall living circumstances that play into what their whole remote work set-up looks like.

The important thing to always remember at the end of the day is that working from home doesn’t have to put a dent in your plans if you only set your expectations right from the beginning and prioritize accordingly. Remember to communicate effectively not just with your colleagues, but the people around you, and maybe you’ll find it a little less lonely staring at your screen for extended periods knowing you are not alone in doing so.

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Reinvigorating Local Brick & Mortar Stores Through E-commerce

April 12, 2021

The popularity of online shopping is on the rise; e-commerce and mail orders now account for 14.3% of total retail sales, demonstrating a shift in consumer behavior, particularly during the Covid-19 crisis. While online shopping was once considered to be a major challenger to brick-and-mortar establishments, more retail brands nowadays are seeing benefits from incorporating online elements to their fixed-location businesses.

If you’re a local business owner, e-commerce can help to reinvigorate your business and expand your customer base. Set up an online store to start experiencing these benefits:

1. Age verification integration

While many brick-and-mortar establishments may offer an e-commerce option without issue, retailers who sell age-restricted products may be discouraged due to the strict regulations by which they’re required to abide. As an example, selling cigars online can put a shop owner at a disadvantage, as some financial institutions automatically consider the e-commerce transactions to be ‘high risk’. This is due to the FDA requiring sellers to verify that anybody purchasing tobacco products is over 21—fairly easy to do in person, but a much more difficult regulation to confidently enforce online.

Fortunately, if a business owner would like to sell age-restricted products online, there are now age verification options available that can integrate with your payment gateway merchant. For an additional layer of security, some shipping partners allow you to require the signature of an adult on delivery. By utilizing these services, store owners can expand their customer access options without compromising on compliance.

2. More purchasing options for consumers

By offering shipping options on your e-commerce site, as well as physical pickup locations, you can provide your customers with more convenient ways to shop for and receive their products. According to studies, during the most recent holiday season almost one-third of consumers purchased goods online, and opted to pick their purchases up from a physical store. The recent pandemic has been instrumental in changing consumer behavior, with 79% of consumers indicating that a contactless pickup option is important to them, and 85% of consumers indicating that they’re choosing curbside pickup more frequently.

Aside from providing fast gratification for online shoppers, pickup options have the additional benefit of allowing a business owner to improve their bottom line. 69% of consumers who used click-and-collect options over the last holiday season reported buying extra items in the store as they picked up their order, indicating that retailers can take advantage of impulse purchases to boost their sales. There is also evidence that high shipping costs can cause a reduction of up to 63% in online sales; with a local pickup option, businesses could avoid losing these sales among consumers within their local community.

3. Wider range of product availability

94% of all US retail sales still occur in a physical location; however, one limitation of brick-and-mortar stores is the lack of product availability. If a product isn’t available in-store, consumers may decide to search for it online instead of placing an order. By setting up an e-commerce option for your store, you could take orders and have the items shipped directly from the supplier, providing your customers with a wider range of options than they’d typically find in-store. If you own a small chain of local stores, online sales can be shipped from whichever location has the item in stock, meaning that you won’t miss out on a sale if the item is out of stock in your flagship location. By allowing potential customers to see which stores have which items in stock, your e-commerce site could also be used to direct foot traffic to your physical location.

4. Expanded customer base opportunities

One of the clearest advantages to including an e-commerce element in your physical retail store is the opportunity to attract more patrons. Customers are increasingly turning to the internet to research and purchase products, with 22% of global sales expected to take place via e-commerce by 2023. By ensuring that your store has an online presence, you could attract customers from any location you’re willing to ship to.

Conclusion

While brick-and-mortar storefronts allow you to build personal relationships with customers and take advantage of foot traffic, the addition of an e-commerce store could allow you the best of both worlds. A well-functioning online shop can complement your existing operations by attracting new clients, making sales for you, and ensuring that your age-restricted products are sold according to local laws and regulations.

Consider using a hybrid online/physical location strategy for your business, and start reaping the benefits today.

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How to get registered for a Bitcoin Exchange?

April 12, 2021

Bitcoin Exchange is essential for the smooth trading of each bitcoin transaction and for the exchange of digital currency into a physical currency.

If you want to use bitcoin for trading purposes like buying or selling goods and services and it may be just investing money for bitcoin, you must have an exchange account for the flexible exchange of your digital or physical currency.

The main purpose of every bitcoin exchange is to help the people for the smooth functioning of every transaction, and there are many exchange providers on the internet.

Why Getting Registered on the Bitcoin exchange is mandatory?

Bitcoin is working on blockchain, and the blockchain store the data of bitcoin users such as their current or recent transactions, previous transactions, wallet address of sender and receiver on the public ledger, which is visible to every person who wants to check. For more information you can visit CFD Trader.

Only the person can move the fund of bitcoin from one location to another location, and it is not possible without an identity, and identity will be confirmed on the exchange. You have to register on the bitcoin exchange, and by filling in your detail, you can move funds digitally.

Another reason for getting registered on the bitcoin exchange is that you will face problems when you need money in your own currency. You cannot convert bitcoin currency into your local currency yourself; here, you need an exchange.

Steps for registration on an Exchange

There are different types of bitcoin exchanges, and in each exchange, there may be minor difference in registration steps, but the common steps are the following:

Choose an exchange you want to get registered with, and there will be an option to sign up and log in. As we know, we are new users and want to register, so we will go with the SignUp step.
After clicking on the SignUp button, they will ask for you some basic details, cater these details and continue with the next step.
The next step is that they will send you an email for confirmation that it really belongs to you or not? Check your email and confirm the link for the verification.
Now you are successfully registered, but it doesn’t mean the registration process is ended; after the activation of your account on the exchange, the process of registration begins.

You can register your new account if you have not any bitcoin, or at the time of registration, you do not want to purchase bitcoin.

Verify Your Identity

After activating your account on the exchange, the actual registration process begins. To take full advantage of bitcoin exchange, you must have to go with your identity verification process as named KYC (Know-Your-Customer). For the proper utilization of bitcoin service, KYC is mandatory for you or every person who wants to use bitcoin. There are the following steps to complete the KYC (Know-Your-Customer) given below:-

Phone Number Confirmation – We all know that phone number is the best method of easy verification, everyone can do this easily if he doesn’t know how to use the phone number as a registration, it is understandable because when you will fill your number on the website then you will get an OTP (One-Time-Password) for the verification of your number and by filling the OTP or (code that has been sending to your mobile number) on the website, your number will be verified. It will also help you for recovering your bitcoin exchange website password if you forget it, and two-step authentication will secure your exchange account from hacking.

ID Proof – This is the main part of registration to provide your personal identification proofs. It may vary in different countries and different exchange websites, but in most cases, all the required documents are the same in each bitcoin exchange website. In different countries, there may be different primary identity proofs like in India, the primary proof of every citizen is Adhaar Card, but it is not compulsory to provide a primary identity card is must, you can submit other proofs like driving license, date of Birth in some websites or passport.

You can read the instruction on the website while submitting your personal proofs because they mentioned before the upload option- which proof is required to submit.

When your KYC (Know-Your-Customer) will be done, you will get the service for the exchange of bitcoin from one location to another location, changing your bitcoin value into your local currency, and you can also use it for paying bills and debts and buying goods and services.

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