Proving Fault in a Two-Vehicle Accident Case – 4 Things to Know

August 20, 2020

There are a variety of legal precedents for proving fault in different types of accidents. For example, a car striking a pedestrian will likely have different legal fault than a car striking a motorcycle. What happens when a car strikes another car? In this situation, there are many things a judge may consider when determining fault.

Knowledge, experience, and communication are three of the most important things to look for when seeking legal advice. If you’ve found yourself in a motorcycle accident, be sure to contact the team at Marks & Harrison – Motorcycle accident lawyers to ensure you receive the help and compensation you deserve.

Here are a few of the considerations a judge may have.

1. Legal Violations

One of the most important parts of proving fault is deciding whether any party committed a legal violation. For example, if one member in the accident ran a red light, but the other was obeying the traffic laws. Here, it’s much more likely that fault will fall completely or mostly on the individual who ran a red light.

2. Previous Record

A judge may also consider whether someone has a previous record of traffic violations or accidents. Someone who has multiple traffic violations on their record may be more likely to receive fault for an accident than someone who has never had a traffic violation on their record. Everyone has a first violation, so this definitely isn’t a free pass, but it is an important consideration.

3. Damages to Each Individual

Did one person come out of the accident much more damaged than the other person? Is one person’s car clearly more destroyed than the other? These could actually be important elements of proving fault – or at least deciding whether one party needs to pay the other. These damages may not be the deciding factor when it comes to understanding fault, but they are elements the court should consider.

4. Extenuating Factors

The last element that a judge must take into consideration is extenuating factors. If, for example, one driver’s brakes failed, causing the driver to run a red light because they couldn’t stop, that may reduce the fault on the driver. These are extremely individualized factors that you’ll need to talk about with a lawyer directly.

How Do I File a Case?

The filing process for any legal case can be very confusing. This can dissuade people from filing a case even if they deserve reparations for an accident that occurred. If someone harmed you, even if the harm was an accident, it’s important that you get the reparations you deserve. That’s why you should seek out a lawyer to talk with about the accident.

Moreover, because every case is different, consider approaching an experienced Bronx accident lawyer for your particular case. That’s the best way for you to make sure you’re getting the best possible opportunity when it comes to filing your case.

Conclusion

The path to proving fault in any accident case is not necessarily clear-cut. It can be a very complicated process. However, if you have a great lawyer by your side, you’re more likely to get the justice you deserve for the accident you went through. Talk to a lawyer to make sure you’re able to prove fault in your case.

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Head-On Collisions – Reasons Why They May Happen

August 20, 2020

All traffic accidents can be dangerous, depending on factors such as the kind of vehicles involved, speed and location of the accident. However, head-on collisions are regarded as one of the deadliest kinds of road mishaps. As the name suggests, these collisions involve two vehicles crashing front to front. Obviously, the chances of serious injuries run pretty high in such crashes.

A majority of head-on crashes are the result of negligence on the part of one or both the drivers. Still, they are avoidable in most of the cases, provided that the drivers are watchful enough. It is important to know the causes of such accidents as a little awareness and caution can save lives. Let us explain the most common reasons for head-on collisions.

Wrong-way driving

Perhaps the most common cause of this type of collision is wrong way driving. You can well understand the risk of drivers failing to stay in their own lanes and proceeding into oncoming traffic. There are incidents of people making illegal turns onto one-way streets is even worse, entering an expressway from the wrong side. The chances of a crash run high in such situations and the injuries can be catastrophic if one or both the vehicles are at high speed.

Severe weather conditions

At times, vehicles may collide front to front due to bad weather conditions and poor visibility rather than the direct fault of the drivers. Inclement weather conditions such as heavy rainfall and dense fog can reduce visibility on the roadway to a significant extent. Although you may not be at fault, not slowing down due to reduced visibility is a negligent action as it elevates the risk of a crash.

Distracted driving

Distraction is another common reason why drivers end up getting involved in head-on collisions. The fact that you have technology at your fingertips elevates the risk of accidents. Calling, texting, reading messages and emails are the main reasons for getting distracted. Some other forms of distractions to steer clear of are talking to other passengers, paying attention to children and eating while driving.

If you have been injured in an accident that was caused by a distracted driver you should contact an experienced lawyer from Tork Law, who can help you receive the compensation you need to help recover from the incident. And together you can send a strong message that distracted drivers must be held accountable for their careless and dangerous behavior.

There are so many possible distractions while you’re on the road. Unfortunately, even the smallest mistakes can cause major damage. Here’s a retro-style game that emphasizes the dangers of texting and driving. #StayAliveGame

Driving under influence (DUI)

Driving under intoxication impairs judgment drastically, which increases the probability of accidents. You may even end up losing control of the vehicle and drifting into oncoming traffic to have a head-on collision. The worst thing about DUI cases is that they are regarded as a criminal offense and appear on your records. Moreover, you can expect the victim to work with an experienced car accident attorney and file a compensation claim. Chances are that you will have to pay a massive compensation and also face criminal charges for the accident.

Fatigue

Driver fatigue is another factor that emerges as a leading cause for head-on car accidents. You may push yourself to the limit while traveling long distances or you may simply be tired after a long day at work. In any case, fatigue puts you and everyone on the road at risk as you may have a slow reaction time or even compromised decision-making due to exhaustion and tiredness. In fact, many head-on collisions happen when people fall asleep behind the wheel.

Lack of experience

If you are new to driving, there are chances that you may not know the rules of the road. Sometimes, inexperience makes you incapable of handling the vehicle well enough to stay on your side or control its speed. These can be dangerous situations and may lead to collisions with other vehicles. Ensure that you are fully confident about your skills and experience before getting behind the wheel.

Aggressive driving

People who drive aggressively are often guilty of over-speeding and other traffic violations. Aggression on the road also includes tailgating, road rage, cutting off other drivers, weaving in and out of traffic, changing lanes suddenly and turning at the last second. Such behavior makes you unpredictable and susceptible to mishaps including head-on crashes. This is something you should absolutely avoid to ensure that everyone on the road stays safe.

Construction and altered traffic patterns

In some cases, collisions happen because of the construction zones on the road. There may be no signs or you may miss them out completely, which can result in a catastrophe. Altered traffic patterns are equally dangerous as you may fail to notice them unintentionally or out of sheer negligence. There may be negligence on the behalf of construction workers if they fail to put up cautionary signs.

Being aware of these common reasons for head-on crashes and making conscious efforts to avoid them is a good way to cut down your risk. So be vigilant the next time you are on the road!

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Felony vs Misdemeanor – 5 Things You Must Know

August 19, 2020

It’s very likely that you’ve heard someone refer to a crime as either a “felony” or a “misdemeanor” in the past. However, do you actually know what these two terms mean? If you’re interested in learning the difference, read on to find out.

1. Seriousness of the Offense

The first major difference has to do with the severity of the offense. For example, someone who has run a red light is much more likely to receive a misdemeanor than someone who has assaulted a person. So, as a quick rule of thumb, you can always be sure: a felony is very serious, whereas a misdemeanor is much less so.

2. Harm Done By the Offense

Deciding whether you did harm to someone is an important part of determining the classification of a crime. Although running a red light may be a misdemeanor or even just a citation, someone who runs a red light and causes a fatal traffic accident may receive a felony charge for negligence. Even a less-serious offense may be charged more severely if it causes enough harm.

3. Repeated Offenses

Is your first conviction or have you done this before? If it’s a problem you’ve had before, it’s much more likely that a prosecutor will charge a case as a felony. In some states, for example, your first DUI may be a very strict misdemeanor, but a second or third DUI might be a felony charge.

4. Multiple Crimes Together

If someone commits more than one crime at the same time, it’s possible for the prosecutor to seek a felony charge for at least one of the crimes. For example, someone who has stolen items from a grocery store is more likely to receive a misdemeanor charge than someone who stole from a grocery store, stole a car from outside the grocery store, and disobeyed multiple traffic laws while driving the stolen car.

5. Potential Severity of the Punishment

The most important difference between these crime classifications is the severity of the punishment. Felonies come with much more severe punishments than misdemeanors, which may even include losing your voting rights. Legal experts at Meldon Law Firm suggest that it’s important that you talk to a lawyer if you’re facing a potential felony charge. That way, you can reduce the severity of the punishment.

Conclusion

As you can see, a felony and a misdemeanor can both impact your life, albeit in very different ways. If a court is charging you with either, it’s important to talk to a lawyer. However, it’s especially important to talk to a lawyer if you’re receiving a felony charge. Without a lawyer’s help, such a charge can leave a serious impact on your record that you may never fully recover from.

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Things to Look For to Find a Reputable Online Broker

August 18, 2020

Reputation is important when considering an online broker. It is arguably the best way to gauge how happy you will be with the broker. Knowing the experiences that other users have had with a said broker will give you an idea of what your own experience may turn out to be.

This article will cover some of the key things to look for to find a reputable online broker. The beautiful thing about the internet is that we have access to a lot of opinions. That gives us the chance to vet any online broker based on the experience of other users before we sign up.

Suitability Test

No matter how good an online broker is, it is only as good as it is suitable. Think about what you need the platform to do for you. What are some of the things that you will be trading through this broker? Some traders will have several accounts with different brokers. However, there is no harm in having one account if possible. Find one that is suitable.

Does this broker allow you to trade what you want to trade? You will often find that there are some brokers that do not offer certain types of trades. For instance, a broker may specialise in currencies and not offer options. Furthermore, they may not offer access to certain stock exchanges.

Stock Broker Regulation

Reputable brokers are always well regulated. Who is looking over the shoulder of the online broker? This is a necessary safety net to ensure that brokers adhere to fair practice. In the event that something underhand was to occur, a regulator would usually step in to ensure that you are not taken advantage of.

Investment advisory

Most reputable online brokers will offer the option of investment advisory. This is usually in two forms. There is a free tier that gives you access to some information and analysis of different stocks and options. It is a great place to pick up tips of stocks that are on their way up.

Part of investment advisory will include some pre-made or managed portfolios. These allow you to take a more passive approach to investing. You will commit to making monthly deposits into your account. In return, the broker will use this capital to make investments on your behalf.

What is even better is that you usually have the option to choose the types of investments that you want them to make. The most common options are, investing for income, investing for capital growth, and high risk taking.

High risk taking is often the most lucrative of these options. However, true to its name, it also presents the highest risk of losing your capital. Capital growth is a balanced method that sees the broker spreading your money across various sectors and stocks. This is perfect for those with long term investment goals. Investing for income is designed for those that want their money to generate a frequent payout for them. This can be a monthly or quarterly payout.

Research tools

A good trader’s decisions are always data-driven. As such, you would want to have a broker that provides you with the tools to carry out the necessary research. Speaking of research tools, while a broker may not have their own tools to offer, they might have the option to use their platform to trade using external research tools such as Active Trader Pro, Stock Charts or MetaStock.

Trading commissions and account minimums

The best brokers will usually charge a premium. Their users are those that see the value of spending their money to access the services that are provided by the broker. However, there is a fine line between a good rate of commission and being overcharged.

There are two things that you should look out for. What commissions does the broker charge per trade? If you are making frequent traders, even the low commission rates will soon add up to a substantial amount. Trading commissions will either be charged as a percentage of each transaction or at a fixed rate. In some cases, it will be a combination of the two.

Account minimums can also be a barrier. This is when a broker requires a certain amount to be deposited for an account to become active. If you are going to be trading with one broker, this might not be a problem. For those who are getting started or those that are looking to use several brokers, this may leave you with limited capital to spread between the brokers.

High commission rates are not always a deal breaker. They may just mean that this is not the best broker to use for day trading or for trading while trying to grow your capital. This broker may still be useful for purchasing and holding stocks long term.

Easy Access to funds

So, you have been with a broker for a while and your trading account has made handsome profit. You now want to get some of your trading profits into your bank account. How easy would that be? You may take this for granted, but there is reason to tread with caution. A good broker is one that makes it very easy for you to not only deposit, but to also get your money out when you so desire. A great example would be IQ Option. This trading platform offers seamless deposits and withdrawals. For an in-depth review of IQ Option you can read more at Public Finance International.

You will find that the depositing part may not be as troublesome as the withdrawals. The common thread with bad brokers is a lengthy waiting period between requesting a withdrawal and getting it paid out.

Accessibility

How accessible is the broker’s trading platform. The ideal platform is one that can be accessed on desktop and on mobile. You want to be able to open or close trades on the platform while on the go via a mobile trading app. The trading interface should be good on both screens.

Conclusion

Picking a reputable online trading platform does not have to be complicated. If you follow the simple steps outlined, you will be able to sift through them to find a good online broker that is ideal for your personal needs. This is where the suitability test comes into play. Consider the trading platforms in view of your own needs, and not just in general.

Once you have considered all of these things, a final check can be how long the online broker has been around. It is not usually prudent to trade with the newest brokers around. A more measured approach is to get on well established trading platforms. Their track record gives you a clearer picture of what you can expect.

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South Korea Is Needlessly Endangering Economic Relations With Japan

August 17, 2020

South Korean and Japan are yet again embroiled in a controversy, this time involving a pair of statues installed in a botanic garden in the county of Pyeongchang in the north east. The statues, called “Eternal Atonement”, features a man on his knees on the ground, bowing low in front of a woman sitting on a stool. The female is a representation of comfort women, an issue which has been a contentious point between the two countries. However, it is the male statue that has gotten Japan all riled up, as it is said to represent Prime Minister Shinzo Abe.

Yoshihide Suga, Japan’s chief cabinet secretary, quickly responded to the assertions that the male character is their Prime Minister, saying, “If the reports are accurate, then there would be a decisive impact on Japan-Korea relations. I think such a thing is unforgivable under international courtesy.”

The South Korean public is divided in the issue, with some taking to social media to express their dismay at the diplomatic implications. The major point being that such a representation of a neighboring world leader is disrespectful. Others say that it is a mere reflection of the current state of affairs.

However, the owner of the statues, Kim Chang-ryeol, denies that this was his intention when he commissioned the piece of art. He has been quoted as saying, “The man could signify any man that has to apologize to the girl. It can be her father or just any man that you could imagine.”

“It is a sculpture who tries to show that forgiving is possible only if Japan continues to ask for atonement until South Korea accepts it,” he continued.

A statement to Reuters leaves no doubt as to his feelings on the issue, though, as he said that “if that person is Abe, then that would be good.”

Furthermore, South Korean media has consistently reported that the man in the statue is indeed Prime Minister Shinzo Abe, citing the statues’ creator as their source.

The South Korean government has been relatively silent on the matter, only admitting to the need for international comity but releasing no official stand on how private citizens and their actions come into play.

Relations between two of the leading Asian countries have always been tenuous at best, with roots of dissension going back to the colonization of South Korea in the early 1900s. Fast forward to the 21st century, and the normalization of relations between Japan and South Korea has got a long way to go.

The two nations have been locking horns on issues such as the comfort women, forced wartime labor, as well as the sovereignty of some islands.

They have also been actively engaged in economic disputes and penalties. In 2018, the South Korean Supreme Court dictated select Japanese companies to provide compensation to workers (or their families) who were forced into labor during the war. Japan contested this, citing the 1965 treaty which was supposed to have settled the issue. Facing an impasse, Japan decided to impose restrictions on high-tech exports to its neighbors.

More shots have been given and taken in the trade wars between the two countries, even spreading to international security matters when South Korea decided to discard an intelligence-sharing pact with Japan.

World economists have raised worries regarding the trade wars between Japan and South Korea to have massive international impact.

Earlier this month, tensions were somewhat alleviated when the scheduled seizure of assets of Nippon Steel by the South Korean government didn’t go through. While this does not mean that it won’t happen, the Japanese company has the option to appeal the court’s decision and the turn of events has given both economies breathing space.

However, with “Eternal Atonement” in the picture, there is a new bump in the path to normalization of the two countries’ relationship. If Seoul does not take decisive action to assure its counterpart that it is dedicated to repairing and building ties, Tokyo may very well take this as a serious affront. It has already stated that there will be a “decisive impact” if the reports of the statue were true. Diplomatic and economic ties are already hanging by a thread. Perhaps Seoul should be asking if this piece of art is worth further endangering these ties.

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The Influence of Cryptocurrency on the World Economy

August 13, 2020

As you may know, blockchain technology aims to transform the current financial system and exclude the mediators, and these facts can’t be unnoticed by governments.

In the beginning, cryptocurrency seemed to be a doubtful scheme, and now many financial giants show that blockchain can be successfully used in the bank system.

And now there is a big question – what is Bitcoin? Is it the money or goods?

When Satoshi Nakamoto was presenting Bitcoin, his concept was to present it as the virtual currency, but in reality, we see that people don’t measure money and goods in crypto – fiat money is on a roll. And Bitcoin is measured in BTC as well.

The difference between cryptocurrencies and regular currencies:

investing in cryptocurrencies has minimal risk compared to other currencies;
electronic currency does not have a definite owner, and ordinary money refers to the political and economic situation of the country;
the main element of cryptocurrency is demand;
the functions of ordinary money are assigned to digital coins, while the individual characteristics are characteristic only of cryptocurrency.

These features include:

payability;
storages – top Bitcoin wallets;
growth of the monetary unit;
commodity exchange;
decentralized exchanges.

Many financial experts discuss the reasons why crypto can’t act like dollars, for example.

The first reason is the complete decentralization – the absence of the institution that regulates and protects the cost of money.

The next reason is volatility – the high fluctuations of crypto prices prevent them from being used for payments. Although, for example, Microsoft accepts BTC to pay for Xbox content and in the Windows store, even with the volatility. Also, it is known that bitcoin is often used for cross-border payments between counterparties from different countries. For example, in international trade or to pay remote employees.

Cryptocurrencies affect the economic, political, cultural, and social life of humankind. Digital money is not becoming a substitute for real currency, but it can become an impetus for the formation of a new currency system. Currently, in the absence of regulations and guarantees to protect bitcoin buyers, there is a risk of unscrupulous persons appearing on the market.

Previously, governments wanted to prohibit or restrict the use of cryptocurrencies, but now many countries are positively disposed towards the new technology. Electronic money can be transferred anywhere in the world at virtually no cost and can be traded with the help of crypto signals.

Thus, the risk for cryptocurrencies is that the state does not conduct an independent interest rate policy. The world economy will change, and currencies will go into electronic savings. The number of investors is growing every day, and as a result, electronic assets will be valued much more than they are now.

In general, the cryptocurrency market is actively growing, new companies and infrastructure projects appear. And the fact that the legal institutions and software development services are trying to assess the impact of bitcoin and other digital currencies on the development of the economy is a positive signal. This proves once again that cryptocurrencies are a multifaceted concept, and the relationship arising from their use can be interpreted in different ways, and no regulator has yet come to a consensus on this issue.

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Is It Expensive to Become a White Label Broker?

August 13, 2020

You should know that starting a forex brokerage is a challenge. It will require money, time, expertise, and none of them is more important than the other. However, in the beginning, your chances of success will be dramatically improved if you can control spending. This article will inform you about some of the typical outgoings a new brokerage is likely to face.

Employees

Typically, most businesses are founded by one person. Somehow that individual manages to take care of accounting, taxes, marketing, administration, and communication all by themselves. In the beginning, this is good practice as it significantly reduces costs. However, as the business grows, it will be necessary to offload specific jobs to other employees before it becomes too overwhelming and you burn out.

The number of staff your brokerage will need is dependent on your goals and ambitions. Still, if you intend to become a global corporation, then inevitably, your team is going to become larger and significantly more expensive.

Tech

Running a brokerage is expensive, and technology is a crucial aspect of doing business in the financial markets. However, you may choose to start a brokerage entirely from scratch and dream of designing your own trading platforms, CRM, payment gateway, etc. That route can be significantly more expensive. The costs can quickly spiral out of control. The above-mentioned systems will need to be commissioned, maintained, and updated from time to time.

Companies such as Popcorn Technology provide a unique solution to help keep some of those costs down. In a nutshell, Popcorn Technology offers forex systems to other companies looking to get started in the industry, helping to keep initial investment low and ongoing expenses to a minimum.

For example, arguably, the most critical component for any brokerage is the trading platform they offer its clients. MT4 is the most popular platform in the world today, and thousands of traders use it daily. If you had to build a platform to compete with it, then it would inevitably involve a staggering amount of money. Why not utilise the MT4 platform from Popcorn Technology? Traders know and trust the robust platform, so why waste cash on trying to fix something that isn’t broken?

Marketing

Marketing and acquiring new customers are always high on the agenda and list of expenses for forex brokerages. Marketing needs to be sustained and relevant otherwise, you are just throwing cash down the toilet. There are plenty of avenues a business can pursue to spread their message. Paid marketing on social media is probably the main expense, and your budget will be dependent on your goals.

Professional Fees

Overheads and associated fees of doing business add up. It is important to control your costs and to be realistic when starting out. Everyone would like to have a company car, and prime office location but these things are a luxury and not a necessity in the early days. However, electricity, phones, internet, banking fees and accounting costs are expenses you simply cannot avoid so you will need to plan accordingly.

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Finance Bill 2019-21: July 2020 Amendments that will Affect Businesses

August 12, 2020

The Finance Bill 2019-21 completed its tenth Bill Committee stage on June 18, 2020, and entered into the report stage on July 1, 2020. The Bill contains a series of amendments to the draft Finance Bill clauses published in 2019, especially concerning the COVID-19 pandemic.

Old Items in Finance Bill 2020 Affecting Business Owners

Finance Bill 2020 contains several provisions that impact business owners. One significant item in the bill that affects businesses is the annual allowance on pension contributions for tax benefits. According to amendments that came into force on April 6, 2016, the government introduced the concept of the tapered annual allowance, wherein individuals or business owners with threshold income higher than £110,000 and adjusted income exceeding £150,000 are affected by tapered annual allowance. The standard annual allowance of £40,000 is reduced by £1 for every £2 of adjusted income more than £150,000. Moreover, the minimum limit of annual allowance stands at £10,000 with adjusted income of £210,000 and above and cannot taper further down, according to the old items in the Finance Bill 2020.

Additionally, according to the treatment of taxes in Finance Bill 2020, if a business enters into insolvency, most of the taxes paid by its employees and customers and temporarily held by the firm, will go to fund public services rather than being paid to other creditors. The Finance Bill 2020 also contains a provision for a reduced capital gains tax of 10%, on the disposal of all or part of a business. The lifetime limit on qualifying gains was also brought down from £10 million to £1 million to provide tax relief to entrepreneurs.

Amendments to the 2019-21 Finance Bill that affect businesses

Finance Bill 2019-21 calls for amendments to some of these items and the addition of new clauses. The changes will have both positive and negative impacts on business owners and have their own benefits and drawbacks.

Revisions to Threshold Income, Adjusted Income, and Tapered Annual Allowance: First and foremost, the Finance Bill 2019-21 calls for an amendment of threshold income to £200,000 and adjusted income to £240,000. The Bill also proposes for revision of tapered annual allowance from the current £10,000 to a minimum of £4,000.

Taxation of Coronavirus Support Scheme Payments: The Finance Bill 2019-21 requests addition of a new clause related to the grants issued to support businesses and employers during COVID-19. The new provision states that any payments made under the support schemes, including the Coronavirus Job Retention Scheme, Self-Employment Income Support Scheme, Coronavirus Statutory Sick Pay rebate Scheme, and others, will be considered as taxable income. Such grants will be included as revenue for income tax and other tax purposes. The new clause and new Schedule also give HMRC the powers to recover payments from businesses that received the grants that they were not entitled to, by imposing a 100% tax charge.

Interest on Unpaid Tax In Case of National Disaster: The new clause 23 of Finance Bill 2019-21 amends Section 135 of the Finance Act 2008 regarding interest on unpaid tax during disasters of national significance. The clause allows HMRC to define which tax payments deferred during national emergency situations will not attract interest or surcharges. The new clause comes in support of the government’s announcement of deferral of traders’ VAT until the end of the financial year. Such changes made in direct response to the COVID-19 pandemic will begin to fall under Section 135 of the Finance Act and will allow for interest-free deferrals of sums due to HMRC. The section can also be applied retrospectively and will enable HMRC to disapply interests and surcharges for the periods impacted by the coronavirus.

Tax in Insolvency: The Finance Bill 2019-21 also calls for the amendment of Section 386 of Finance Bill 2020 referring to businesses entering insolvency. The change will alter the status of HMRC in insolvency proceedings, move it up the creditor hierarchy, and make it a secondary preferential creditor instead of an unsecured creditor. The amendment will ensure more of the taxes paid in good faith go to public services rather than other creditors and banks.

As a bottom line, the Finance Bill 2019-21 focuses on amending the rules and regulations in line with the current economic circumstances owing to the coronavirus pandemic. The changes will lead to a few benefits to the business owners, including modifications to threshold income and tapered annual allowance or deferral of interest on unpaid taxes and surcharges. However, the amendment also supports the UK government and ensures that the support payments made by the government during the COVID-19 pandemic are fair, taxable, and rightful.

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Making Every Area of Your Business Lean: A Guide

August 11, 2020

Introducing lean processes into your business can help it to excel in a number of ways, ensuring that you can increase productivity and efficiency in your workplace on a daily basis. However, it can be difficult to know where to start with making lean processes part of your company culture. Luckily, this guide can take you through most of the major ways that lean processes can be implemented into any area of your business, and the positive effects that it can have on them.

Marketing

Lean marketing swerves away from traditional marketing strategies in that it focuses much more on adaptation and measuring success than on developing a fully formed marketing campaign from the start of your involvement. To introduce lean marketing into your firm, you need to have isolated a number of different metrics that you can use to track your campaign’s success for your business, such as the number of clicks and website traffic that you receive. If you need help with developing the best campaign for you, visit www.clickintelligence.co to find out more about how they can help you manage your strategy and get a great ROI.

Leadership

Lean management drives the change that you want to occur within the rest of the areas of your business. To ensure that you are able to implement a lean outlook in terms of management, you should consider your view of what a manager is, transforming them from a ‘boss’ into a business ‘coach’ that can help to drive your employees to success and to boost morale in the workplace. They should be the ones to promote a positive company culture, and you should ensure that they are held accountable for any issues that occur in terms of customer satisfaction.

In terms of your HR, you can implement lean processes by ensuring that all your employees understand your new outlook. You should also focus on employee development to strengthen your team, such as holding regular workshops and coaching sessions which can help them to advance. This will ensure that all your employees are trained appropriately, allowing them to act more efficiently and to reduce waste within your company, which is a key component of an effective lean strategy.

Customer Service

Your lean processes should be held on a customer-first basis by ensuring that your products can create value for your customers. Some of the most effective strategies for implementing lean operations into your customer service include reducing order processing and customer complaint and communication response times. As well as improving customer satisfaction through these streamlined processes, it will also ensure that you are able to reduce the costs of serving customers in an inefficient way.

Finance

Lastly, you can introduce lean processes into your finance department by streamlining processes such as invoice creation, money processing, and updating documents. You can also make your finance team lean by ensuring that finances are handled by one department, rather than information being transferred between them and the sales department.

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Three Essential Tips for First Time Investors

August 11, 2020

By Veronica Baxter

If you want to learn about investing, chances are you have steady employment, you are living comfortably within your means, you have a six- to eight-month emergency fund saved, you have very little credit card debt if any, and you are maxing out your IRA contributions.

No? Then accomplish those things for yourself before investing. Investing should be done with money you can take some risks with, not money to put food on the table. For example, if you have credit card debt, pay that down before setting aside money for investing. Nothing on the market will bring a return as high as when you avoid being charged that exorbitant interest.

These three tips are for people of any age who have their financial situation well in hand and are prepared to set aside some money to “play with” while they learn about the types of investments that are available, how those investments can perform, and their own level of risk tolerance.

Tip #1 – Only Invest Money You Can Afford to Lose or Afford to Lose Access To

Yes, this is somewhat of a repeat of the introduction because this is the first decision you make, and it is crucial. Investing is essentially a gamble, and even investments with proven returns can tank if, for example, a pandemic breaks out. Don’t gamble with your car payment or your children’s college fund.

Funds for learning how to invest should be those available above and beyond your household budget, contributions to your IRA, contributions to your medical and or college savings funds, contributions to your emergency fund, and any other bills or monthly obligations. Not only because you must fund those costs first, but because money invested is not easily divested.

In other words, don’t invest money you might need now or in the near future, because you won’t be able to easily access it if you need it.

Tip #2 – Shop Around Before You Invest

Just about anything you want to know about investing is online, but beware – just like television, not everything you see, hear, or read is necessarily true. However, it is easy to research the different types of investment vehicles that are available right now, and for the beginning investor, there is a lot to choose from. You may check what is impact investing and how it can benefit you and the community. Green bonds may be a great option for you especially if you’re into sustainable living.

Not only can you browse the different types of things to invest in and look at the projected returns and risk level, but you can invest according to your priorities. For example, if it is important to you that underserved communities have access to small business loans, you can invest in that. If you are interested in providing access to mortgage loans to those with poor credit, you can invest in that. There are many more places for individuals to invest than ever before.

The Stock Market

Traditional stocks and bonds are what come to mind first for most people, and yes, these investments are available even to the beginning investor now. There are online platforms such as E*Trade that can get you started, or you could go the traditional route and meet with an investment advisor. Either way, you can customize your portfolio to the level of risk of loss that you can endure, but be sure to ask about fees and costs.

For example, while E*Trade requires a minimum of only $500 to get started, it charges $9.99 for each stock trade. If you want to learn to trade stocks and expect to be actively doing so, that could eat into your principal pretty quickly.

Online brokerages such as TD Ameritrade offer a diverse array of investment products and level of customer involvement and guidance. Many tout their free online trades but be on the lookout for hidden brokerage fees.

REITs

Real Estate Investment Trusts (REITs) are a way for individual investors to invest in real estate with far less risk than if they bought and sold real property themselves, or managed rental property themselves. REITs own, operate, and/or finance rental property and come in four different varieties:

Publicly-traded Equity REITs. These own and operate a rental property, and are available as part of a stock market portfolio. Savvy investors often include these in their portfolio to balance out riskier investments.

Mortgage REITs (mREITs) finance income-producing property by originating or purchasing mortgages and earning income from the interest. These can be a stabilizing part of your portfolio.

Public, non-listed REITs (PNLRs) are registered with the SEC but do not trade on national stock exchanges.

Private REITs are exempt from SEC registration and do not trade on national stock exchanges.

For the beginning investor, access to REITs can be had through your online brokerage as part of your diverse online portfolio, or, you can invest directly with PNLRs or private REITs online. Many have mission-based objectives, such as lending to underserved communities or to those who have poor credit.

Micro-Lending and Crowdfunding

These are fairly new types of online investment vehicles that fund smaller businesses or individual projects. Again, these can be mission-based, and there are hundreds if not thousands to choose from.

Tip #3 – Diversify and Adjust Risk

It is important for your investment portfolio to have a number of different types of investments of varying risk, to spread risk over the whole of your investment, and provide more stable returns.

Generally, people earlier in their career can tolerate more risk, just because they have more time for the market to come back before perhaps needing those funds in retirement. People who are later in their career might shift investments to those with less risk and a guaranteed return, just to make sure the funds are there when they are ready to withdraw them.

But if you are investing not just for retirement but to grow your wealth in the here and now, take risks – that’s how you learn. Because you are not gambling any money you need to live on, you are free to think of any money lost as the cost of an education in investing. Good luck!

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About the Author

Veronica Baxter is a legal assistant and blogger living and working in the great city of Philadelphia. She frequently works with David Offen, Esq., a busy Philadelphia bankruptcy lawyer.

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