How to Ace Your Billing Process As a Startup

How to Ace Your Billing Process As a Startup

Running a startup tends to be many things. Exciting, yes. Challenging? Absolutely. But also, sometimes, nerve-wracking. It isn’t easy to run a business when you’re a seasoned campaigner working on an established brand. Moreso, it is not easy to create something from nothing. It is daunting. What complicates matters is that more than simply offering a great product or service is needed. You also need to handle all the associated admin — the worst is financial management.

As a startup, paying close attention to something as basic as billing is essential. The seemingly-simple process of getting paid for what you do is far more awkward than many assume, and there’s no shortage of short-lived companies that went under because they couldn’t nail their invoicing. To ensure your business doesn’t follow suit, you must prioritize proper billing.

In this blog post, we’ll provide helpful information and tips to help you ace your billing process and give your startup a great chance at succeeding. If you can choose the most appropriate billing process, implement software artfully, and master sending follow-ups, you can get somewhere. Let’s get started.

Jemully startup invoicing
Jemully startup invoicing

 

Types of billing methods

The first thing we need to cover is how you bill, which is how you determine what to charge people. Depending on your industry, this can get complicated, so you must ensure you’re using the method that best suits your company’s strengths and goals. Here are the four most common billing methods:

  • Time-based billing. Here, you charge clients based on the hours you’ve worked. This method is simple and particularly suitable for a service-based business (e.g., a consulting firm or a freelancer operating through a site like Upwork) as the time spent on a task typically correlates neatly with the value delivered.
  • Fixed-price billing. Here, you charge clients predetermined amounts for specific projects or services. This method is excellent for a business with clearly defined deliverables (e.g., a web design or software development agency).
  • Retainer-based billing. Here, you charge clients recurring fees for ongoing services, usually monthly. This method is ideal for a business that offers continuous support or maintenance (e.g., a marketing agency or an IT service provider).
  • Value-based billing. Here, you charge clients based on the value or results delivered rather than the time spent on the work. This method is suitable for a business that can demonstrate a direct impact on its clients’ bottom lines (e.g., a business consultant).

 

How to choose a billing method

Now, how can you decide which billing type is right for your startup? Here are three core questions to answer (but remember that you can always follow your gut):

  • Where will clients see your value? Think about your value proposition and what your customers expect from you. If they want results no matter how long they take, charge based on results. Regardless of whether they use it, they charge a fixed monthly rate if they wish to pay attention each month.
  • What might your clients prefer? Even if you prefer a billing arrangement it makes the most sense to you, it won’t work well if your clients hate it. Think carefully about the circumstances of your customers. Many businesses need to be financially equipped to take on big retainers, so you may need to accommodate them with project-based billing.
  • What are similar operations doing? Research the billing methods commonly used in your industry niche. You’re not obliged to follow suit, but there’s a lot to learn from how others work. Additionally, aligning with industry standards is simple and convenient and makes it easier to provide competitive pricing.

If you take these questions seriously, you can decide on a transparent and fair pricing structure that reflects the value you deliver to your clients while protecting your bottom line.

 

How to choose billing software

Handling financial matters manually is a terrible idea at this point. Software systems (particularly those featuring automation options) have become so cost-effective that there’s no reason — aside from a general fear of technology — for you to avoid them. But if you invest in billing software, you need to choose well.

Here are the key factors you need to investigate while considering which software system (or systems) you’re going to use for your company’s foundation:

  • Operational compatibility. Make sure the software you’re looking at supports your chosen billing method and can accommodate any unique aspects of your business, such as the use of multiple currencies or reliance upon complex pricing structures.
  • Automation features. The best billing software can automate tasks such as invoice generation, payment tracking, and the sending of reminder notifications. Tools like Chargebee can handle complex logic sequences, letting you account for varied circumstances. If you don’t need a feature, that’s fine — but if there’s a chance you’ll need something down the line, it’s unwise to commit to a system that won’t provide it.
  • Cost (including ROI). Billing tools vary massively in price. Some are free; others have free tiers with additional features you must pay for. Finally, others have no free levels, and you pay from the outset. Among those, budget contenders and enterprise-level behemoths are so expensive that they must be more suitable for startups. But don’t look solely at the cost: also think about ROI. In other words, there might be better options for meeting your needs. If spending more will get you more, that’s the route.
  • Learning curve. Deploying powerful software’s not a good option if no one in your business can use it effectively. A well-selected system should be easy to use, so take advantage of trial periods and request extensive user feedback before making any extended commitment.

If you take the time to select the right billing software, you can put your business in a strong position for long-term growth — so don’t rush this step.

Jemully billing and payments
Jemully billing and payments

 

Establishing clear payment terms

Smooth and efficient billing requires clear terms of conduct. If you are clear regarding what you and your clients expect you to deliver, you’ll minimize the likelihood of dealing with tricky disputes, late payments, and misunderstandings. Be sure to include each of the following components in every invoice:

  • Payment due date. You need to set a time frame within which the client is to pay, such as “Net 30” (payment due within 30 days of the invoice date) or “Due upon receipt” (payment due immediately upon receiving the invoice). If you don’t do this, they may opt to kick the can down the road, saddling you with cash flow issues.
  • Late payment fees. Clearly outline any late payment fees or penalties the client may incur if they fail to pay the invoice on time. If you do this, you must be prepared to enforce that penalty if the client misses the deadline. If you follow through, the client will continue paying attention to your terms.
  • Accepted payment methods. Indicate the payment methods your startup accepts, such as bank transfers, credit card payments, or online payments through platforms like PayPal. Supporting multiple options can make it more convenient for the client to pay their invoices, so accommodate as many as you can.
  • Payment milestones (if applicable). Consider the options for long-term contracts. One option is to break down the total cost into smaller milestones or phases for a large project or long-term contract with separate payment due dates. Smaller payment options help manage cash flow and minimize the risk of non-payment.

In addition to displaying these things in every invoice, be sure to include your payment terms in your contracts or agreements — and if you think there may be any uncertainty with the terms for a particular client, communicate clearly to ensure that they do not miss anything.

 

How to nail your invoice design

Beyond being content-complete, a good invoice should have a professional design. Putting some effort into the design will serve your brand well and make your invoices more likely to prove effective. Aim to achieve each of the following:

  • Remove any unnecessary elements. Talking about your mission statement or including illustrations will only help some. Keep things simple and efficient.
  • Follow your brand guidelines. Use your brand logo, colors, font, shapes, and spacing conventions. Make the document unmistakably yours.
  • Make your contact details clear. In addition to your business name and logo, you need to include clear contact information. Include at least an email address and a phone number, and list your office hours and response times (work hours are even more critical to establish in the era of working vacations).
  • Smartly list the services or products delivered. Provide detail about the chargeable items, but don’t skimp on the details either. Make it easy for clients to know what they’re paying for and why.
  • Explain your preferred course of action. What is your preference for how they pay and when? If you explain what you’d like them to do (in addition to what you need them to do), they’ll most likely be willing to oblige you.
Jemully manage followups
Jemully manage followups

 

How to manage follow-ups

Some clients may still miss payment deadlines even with clear payment terms and professional invoices. Effectively managing invoice follow-ups can help you recover outstanding payments while maintaining good client relationships. Here are some tips for managing invoice follow-ups:

  • Send automated reminders. Use your billing software to automate reminder notifications, sending them a few days before payments are due (and a few days after those due dates if you have not received payment).
  • Reach out on schedule. It may be necessary to reach out to clients who’ve yet to make their payments, but if you do so, adhere to a schedule. You could send a friendly email after a week, a formal reminder after two weeks, and a final notice after four weeks.
  • Balance persistence and professionalism. While it’s important to be persistent in collecting overdue payments, you mustn’t be unprofessional or discourteous. A client may be willing to pay but facing financial difficulties, in which case prodding them would only sour the relationship. Remember that you can allow flexible payment arrangements or accept alternative solutions.

 

The importance of monitoring progress

Regularly monitoring and evaluating your billing process is essential for identifying areas that need improvement and ensuring its ongoing efficiency. Tracking key performance indicators (KPIs) and making data-driven decisions can optimize your billing process, reduce late payments, and improve your startup’s financial performance.

To effectively evaluate your billing process, consider tracking the following KPIs:

  • Days Sales Outstanding (DSO). This metric measures the average number of days it takes for your startup to collect payment after issuing an invoice. A high DSO could indicate inefficiencies in your billing process or issues with your payment terms.
  • Percentage of overdue invoices. Monitoring the proportion of outstanding invoices in relation to total invoices can help you identify trends and potential issues with your invoicing and follow-up processes.
  • Invoice dispute rate. Keeping track of the number of disputed invoices can provide insights into potential inaccuracies or inconsistencies in your billing process. This documentation is essential as such issues could leave clients needing clarification or dissatisfied.

Once you’ve identified areas needing improvement, take appropriate steps to address them. You may need to refine your payment terms, improve your invoicing and follow-up processes, or offer additional payment options. Continuously monitor your KPIs to assess the effectiveness of any changes and make further adjustments as needed.

 

Wrapping up

In this blog post, we’ve covered numerous parts of acing the billing process. We’ve looked at choosing the suitable billing method, implementing billing software, establishing clear payment terms, streamlining invoicing and follow-ups, and regularly evaluating your billing process.

However daunting billing may seem, you mustn’t forget that you have all the resources you need to get it right and make it sustainable. If you follow the advice covered here and give your best effort, you should be able to get where you want to go. Good luck!

5 Things Nobody Tells You About Working From Home

5 Things Nobody Tells You About Working From Home

Once upon a time, working from home was a lovely dream for the average worker. Those at the top of the professional pyramid have always had the option of avoiding offices, of course, but building a middle-class career has long meant accepting a static desk (likely in an inconvenient location). During the worst of the midweek slog, there was joy in imagining working from a sofa. But, there are a few things about working from home that nobody tells you in advance.

Then came the one-two punch of robust internet infrastructure and a global pandemic. With technology making it possible for most people to work remotely and lockdowns forcing companies to accept that they didn’t need people to be office-based, things changed massively. Before the pandemic, only 5 percent of the American workforce worked from home. Now, nearly 30 percent of all work is remote. And ever since then, working from home has been a standard option. Some forecasters suggest that as much as 39% of global knowledge workers will work hybrid (hybrid is a combination of remote and in-office) by the end of 2023.

This is great news. It’s inarguably true that having the freedom to work from home if you want to work remotely is a spectacular addition to the world of employment. And you surely want to — right? Well, it’s not quite that simple. There are some things you need to know about working from home if you’re going to make a long-term decision about your working environment, and we’re going to look at five of them in this post. Let’s get started.

Jemully working from home ergonomics
Jemully working from home ergonomics

1 – Ergonomics matter

We all know about health and safety concerns. Sitting at a certain angle, taking regular breaks, and setting your display at the ideal height benefits your health and well-being. There is a wide range of actions to make your working environment comfortable. Arguably, most workers need to focus more attention on this area, lest they discover it was a mistake to overlook the physical setup of their remote working environment.

Admittedly, you might not discover this for a while, and during that time, you’ll assume that it’s all overblown. Indeed, you tell yourself that you don’t need an ergonomic setup, and that your workspace is adequate. Maybe ergonomics is essential for some people, such as those lacking strength and flexibility. However, you can forge ahead with the most basic setup imaginable.

Then, one day you discover that working in a slumped, unsupported position is not a good idea. Once physical issues develop with your hands, arms, or back, it’s more difficult to address them. So if you’re going to work from home, take your setup seriously — before you have to undo practices that harmed you.

 

2 – It’s easy to cage yourself

Picture the scene: you are focused on your work all day. You’re primarily motionless in a “cubicle” as you complete your tasks; you look forward to leaving your workplace at the end of the day. Finally, you’re unleashed! Skip to the next day. Where are you? In the same place, essentially motionless at your desk, with the same confining postures with the same unchanging views.

Part of the idea that you feel stuck in a cage is mental. We all get stuck in routines, and sitting at the same desk daily is routine. But another part stems from a fundamental misunderstanding of working from home. When you work remotely, you can work from almost anywhere. “Not overseas,” you might object. However, I have three words for you: employer of record.

If you’re thinking, “What is the employer of record supposed to mean?” you should follow that link. But the gist is that any company can hire people anywhere. For example, working for a Spanish company not only doesn’t require you to be in Spain (or prohibit you from working vacations). But, working for a Spanish company also does not require you to be based in Spain. Sure, you might need to convince your employer to accommodate a big overseas move, but if you want to escape, then why not try? In today’s working world, knowing that most boundaries are gone gives you flexibility and won’t limit your options.

Jemully remote work fake commute
Jemully remote work fake commute

3 – You give up commuting when you work remotely

Say goodbye and good riddance to an exhausting drive through dense traffic. Parting is such sweet joy. If you commute by train, you find them expensive and only available at inconvenient times. Get away from a tedious commute when you work from home. You get more free time and reduce expenses. What’s not to love about those two perks?

There are a few people who enjoy the commute. You may find something undeniably nice about commuting. The journey gives you time to think; necessary travel prevents your attention from wandering. You can gather your energy before you start your workday and decompress when you head home. The result is a satisfying first step back into your home in the evening.

Others who enjoy the commute find it allows them to take extra steps during the day and do some people-watching. Even if you never strike up a conversation during your commute, simply being around other people makes some people feel more connected to society. If you feel a sense of loss concerning your commute, consider creating a fake commute by adding a 20-minute walk before work and at the end of your day.

 

4 – Your home loses its shine

Whatever area you call home is your haven: the one place you can feel relaxed and comfortable. As your domain, it’s under your control and filled with good memories: playing games, watching movies, and laughing with friends and family. So what happens when you bring work into that area?

The work becomes more pleasant: you enjoy familiar surroundings and have more freedom to step away from work for a few moments. But just as the environment lightens the work, the work weighs on the environment. Slowly, your home stops feeling like a safe area for retreat, and it becomes a place of relaxation and work, making it suboptimal for when you want to get away from anything that even reminds you of work.

If your home has always been your refuge, then think about where else you could build a refuge while working from home. An eatery you enjoy, a public park you can visit, or a friend’s house. Your mental health needs to have somewhere to let your guard down and fully get away from work.

Jemully working from home at night
Jemully working from home at night

5 – The days get longer.

When you subtract the commuting time, reschedule the mandatory breaks, and clear out the previously-unavoidable last-minute exchanges, you end up with a significantly-shortened workday. You’d think, then, that a typical day of work would speed by relative to office drudgery — yet that isn’t often the case. In truth, the day often feels longer.

There are many reasons for this, but the biggest is that you miss many office-based conversations that soak up time. A minute here, a minute there, five minutes catching up with someone, ten covering what you’re getting for lunch. These are the interactions that keep you engaged and going.

And when you don’t have the variety of an office around you (the buzz, the hustle, and/or bustle), the only distractions that come along are the kind of pulling you away from work for extended productivity-busting periods instead of reassuring interludes. That means you need to add the variety, and take control and build them into your day. Only you can break up your day and throw in enough twists and turns to keep the clock advancing, so if you start feeling tedium, make some changes.

Types of Email Marketing Campaigns You Should Know

Types of Email Marketing Campaigns: Everything You Need to Know

Email marketing is an effective tool for reaching your target audience and promoting your products or services. It is a powerful tool that can help you increase customer engagement, boost sales, and grow your business. There are several types of email marketing campaigns you can employ. However, with so many types of email campaigns available, it can be hard to know where to start. Which type of message should you send? When should you send it? How do you ensure each campaign reaches the right people?

In this guide, we answer all these questions and more. We walk through the different types of email campaign options so that you can craft messages that will resonate with your customers and drive meaningful results for your business. Let’s get started!

 

1. Newsletters

Newsletters are one of the most common types of email campaigns. Essentially, a newsletter is a type of email campaign that helps a business stay in touch with existing and potential customers.

It involves sending a curated selection of information to subscribers regularly, such as updates about your products and services, special offers, company news, industry trends, your latest news, initiatives, and promotions.

Typically, businesses send newsletters on a weekly or monthly basis. However, you can opt to send them more or less frequently. An effective component of your content marketing strategy, newsletters give you opportunities to get your pillar-based content in front of your loyal subscriber audience. The frequency depends on the specific needs and strategies of your business. The goal is to keep subscribers informed and engaged—not overwhelm them with too much information.

 

The Key to a Good Newsletter

The key to writing a good newsletter is to make sure that all the information you provide is relevant and interesting.

First, your content should be organized neatly, with a clear structure and focus on key topics. Next, it’s a good idea to include links at the end of each newsletter so that readers can easily find more information or take further action. For example, include a link to sign up for an event or a link to purchase a product mentioned in the newsletter.

Unfortunately, some people doubt newsletters are still effective. However, Digital Connecting Mag says, “When done correctly, newsletters can accelerate business growth.” It’s true, they are still a great way to stay in touch with customers and keep them informed about your business. In other words, they’re a great way to stay on your customers’ radar and keep your brand strong.

 

 

Jemully Email Marketing Campaign Subscriptions
Jemully Email Marketing Campaign Subscriptions

 

2. Announcements

Another type of email campaign used to promote special offers or events is announcements. For instance, your business may want to announce a launch, a sale, a guest speaker, an in-person or online event, or an occasion of community involvement. Different from newsletters, these email campaigns are sent on an ad hoc basis and can be tailored to the specific message or offer you want to highlight.

Announcements are great for generating excitement and driving sales, so they can be especially effective during peak shopping times such as Black Friday. Also, they’re important for product launches and special events, where you want to ensure that your message reaches the right people.

 

The Key to Announcement Emails

Remember, announcement emails should always be targeted, concise, and attention-grabbing. The aim is to draw people’s attention quickly so that they click through to your website or landing page. You should also include a clear call-to-action, such as “Sign up now” or “Get your gift”.

To make this campaign effective, use it sparingly. If you’re constantly bombarding your audience with announcements, they’re likely to become annoyed and unsubscribe. It’s important to strike the right balance between informative newsletters and promotional announcements.

 

3. Automated Emails

To incorporate automated emails into your newsletter repertoire, begin by creating pre-written emails that are automatically sent out when certain conditions are met. For example, when someone signs up for your mailing list, purchases a product, or abandons their shopping cart.

These types of emails are effective and efficient. For one thing, they personalize your communication based on their actions. Additionally, you engage your customers with timely information that is relevant to their interests.

Consider, automated emails can be used to send out a welcome email when someone signs up for your mailing list. Another example is thank-you emails after an order is placed. And finally, an email after customers leave items in their shopping carts. This type of email automation is very popular with many marketing professionals. To learn more about their expertise, read some of their recent interviews on this link.

 

Other Applications of Automated Emails

To increase sales, automated emails can also be used to send out product recommendations or special offers tailored to each customer’s interests. This application of email newsletters encourages customers to purchase additional products and services.

To re-engage inactive customers, schedule automated emails to remind them of your brand.

Overall, automated emails ensure that you’re providing customers with a personalized and tailored experience. Plus, they increase engagement and foster brand loyalty.

 

Jemully Email Marketing Campaign Options
Jemully Email Marketing Campaign Options

4. Transactional Emails

Transactional emails are those sent out when someone takes an action or engages in some kind of transaction with your business. These emails typically involve updates, notifications, or confirmations about specific orders, purchases, or subscriptions.

To keep customers informed and reassured, transactional emails play an important role. Customers will be informed that their order has been received, that their payment was successfully processed, or that their subscription was renewed.

If you’re running a Shopify development agency, transactional emails can also be used to provide important updates about orders and shipments. For businesses working with you, these emails provide an additional layer of detail and reassurance, as they demonstrate that their order is being taken care of.


The Key to Effective Transactional Emails

Transactional emails should always be timely, relevant, and clear. They should contain all the information a customer needs to track their order or understand what’s happening with their subscription.

For excellent customer service, transactional emails are an essential element in the customer experience. They provide feedback that lets them know their order is being taken care of.


5. Follow-up emails

Follow-up emails are used to stay in touch with customers and encourage further interaction after a sale has been made. It’s more cost-effective to retain existing customers than to constantly acquire new ones. Consider, in a recent Forbes article, “Fewer resources are required to retain a customer. Customer retention usually requires a customer success department to periodically check in and a support team to sort out periodic issues or bugs.” In this example, a follow-up email is an effective tool to accomplish the task.

It’s also a better testament to the quality of your brand and products, as a satisfied customer is more likely to recommend you to others. And follow-up emails provide a perfect way to do this.

Follow-up emails can be used after a purchase is made when you want to encourage customers to leave reviews or provide feedback, or even when you want to offer customers discounts on future purchases. Also, utilize follow-up emails to stay top-of-mind and remind customers of your products and services.

They also provide the perfect opportunity to engage with existing customers, re-engage inactive customers, keep them updated on your latest products or promotions, and increase customer loyalty.


6.  Event Emails

Used to promote upcoming events such as conferences, webinars, workshops, or other special occasions, these emails are effective at generating interest and excitement. Most often, this leads to increased ticket sales or registrations.

The goal of event emails is to build anticipation and create a sense of urgency—so send them early. As a result, people will have time to plan.


The Key to Successful Event Emails

Event emails should include all the pertinent information a recipient needs to know about the event, such as location, date and time, ticket prices, and other details. They should also include a clear call-to-action (CTA) to encourage people to register or purchase tickets.

Follow-up emails are also effective for those who did not register. As a reminder, a follow-up email can increase the number who sign up.

Through event emails, you can also engage with potential attendees and encourage them to spread the word about your event. By keeping in touch and providing regular updates before, during, and after the event, you’ll be able to build excitement and ensure a successful turnout.


Summing It Up

In conclusion, email marketing is an essential part of any business strategy—and numerous types of emails can help you reach your goals. From promotional emails to transactional emails and follow-up emails, each type has its purpose and can help you engage with customers in a meaningful way.

No matter what type of email you choose to send, the key is to always provide value and stay true to your brand’s voice. With the right approach, email marketing can be an effective tool for growing your business and building relationships with customers.

Sophie Douglas
Sophie Douglas
sophiedouglasdso@gmail.com
About the Author
Sophie Douglas is a digital marketing specialist and a journalist based in Columbus, state of Ohio. Her characters are passionate, innovative, and ambitious. Before becoming a writer for DigitalStrategyOne, she was writing short stories, screenplays, and directing short films.

Book Review – Zero to One by Peter Thiel

Book Review - Zero to One by Peter Thiel

Zero to One: Notes on Startups, or How to Build the Future is a book written by entrepreneur and investor Peter Thiel. In the book, Thiel argues that the most important thing a startup can do is create something new and unique, rather than simply improving upon existing ideas. He calls this concept “going from zero to one,” as opposed to simply copying what has already been done.

 

STARTUPS: FIND A UNIQUE MARKET NICHE

Thiel outlines several key ideas that he believes are important for a startup to succeed. These ideas include finding a unique market niche and creating a monopoly in that niche. Also developing a culture that encourages innovation and risk-taking. He also emphasizes the importance of having a clear and compelling vision for the future. And of assembling a talented and dedicated team to help bring that vision to life.

 

THIEL PULLS FROM HIS OWN EXPERIENCE

Zero to One
Zero to One by Peter Thiel

Throughout the book, Thiel draws on his own experiences as a founder and investor to illustrate his points and offer practical advice for aspiring entrepreneurs. According to his bio on Amazon, Thiel “started PayPal in 1998, led it as CEO, and took it public in 2002, defining a new era of fast and secure online commerce.” In 2004, he made the first outside investment in Facebook, where he serves as a director. The same year, he launched Palantir Technologies, a software company that harnesses computers to empower human analysts in fields like national security and global finance. He has provided early funding for LinkedIn, Yelp, and dozens of successful technology startups. Former colleagues of his, some of whom were dubbed the “PayPal Mafia,” run many of these startups.

Thiel serves as a partner at Founders Fund, a Silicon Valley venture capital firm that has funded companies like SpaceX and Airbnb. He started the Thiel Fellowship, which itself ignited a national debate by encouraging young people to put learning before schooling. And he leads the Thiel Foundation, which works to advance technological progress and long-term thinking about the future.”

In Zero to One, the author covers topics such as how to develop a winning business strategy, how to raise capital, and how to navigate the challenges of scaling a company.

Overall, “Zero to One” makes a thought-provoking and insightful read for anyone interested in entrepreneurship and the future of technology. Thiel’s perspective on the role of startups in shaping the future proves unique and compelling. The book offers practical advice and inspiration for anyone looking to start a company or make a difference in the world.

 

KEY POINTS IN ZERO TO ONE

For the startup entrepreneur, Thiel emphasizes the importance of creating something new and unique in the market. (Going from “zero to one” instead of competing in an already crowded market). Key lessons from the book on business marketing include:

  1. Focus on creating a monopoly: Thiel argues that a business should aim to create a monopoly in a specific market in order to maximize profits.
  2. Offer unique value: To create a monopoly, businesses need to offer something unique and valuable that sets them apart from their competitors.
  3. Build a strong brand: A strong brand helps create a monopoly and can help a business differentiate itself in the market.
  4. Network effects: Try to leverage network effects, wherein a product or service becomes more valuable as more people use it, to create a monopoly.
  5. Long-term thinking: Thiel emphasizes the importance of thinking long-term. One must avoid the trap of short-term thinking in order to build a successful business.

Overall, Zero to One offers a unique perspective on business and marketing and emphasizes the importance of creating something truly innovative and valuable in the market.

How to Copy Text from a LinkedIn Post on Mobile App

How to Copy Text from a LinkedIn Post on Mobile App

LinkedIn makes a great platform for finding connections in the professional world. You can easily find people and articles related to your industry. This makes LinkedIn one of the most powerful platforms for publishing content as well. Many companies and people post articles on their profiles and get their connections to spread them. For this purpose, some people, instead of sharing the link to the post, copy and paste part of the article, and share it on their profile, while linking the original author. But have you ever wondered how to copy text on LinkedIn from a mobile device?

Yes, this can be a challenge.  If you are trying to do this on mobile, you will see that you cannot copy any text because it is protected. Read on to learn how to deal with this issue and copy LinkedIn posts efficiently.

How to Copy LinkedIn Posts

We will examine two different methods of copying text from LinkedIn posts. The first method relies on a manual approach. And the second utilizes some tools to improve efficiency.

Manual Method of Copying

In the manual method, we basically copy the excerpt by hand. This involves opening the post that you want to copy and opening a word processor side by side.

The word processor can be offline or online (whichever you prefer to use). Then you have to manually type everything and copy the formatting and styling in the word processor. And that’s how you copy the post manually.

This method falls short of being easy and efficient, as it does not allow you to copy sizable portions of the text in a timely manner. You can spend the better part of an hour trying to just manually transcribe everything on a new file.

Tool-Assisted Method of Copying

The tool-assisted method helps you avoid spending more than a few minutes copying text from a LinkedIn post. You can actually, directly, copy text from an image (well somewhat directly). Below appear the steps required to follow this method.

1 – Take a Screenshot of the Post

Take a Screenshot

The first thing you need to do is to go to the post that you want to copy and take a screenshot.

Now, taking a screenshot can be done in a few ways. If you are on Windows, you can do the following:

  • Press the “Windows” + “PrntScrn” buttons to take a screenshot of the entire screen.
  • Or press the following shortcut “Windows + Shift + S” to open the snipping tool, and screenshot a particular area only.

If you are on a Mac, then do the following:

  • Press and hold these three buttons – “Shift, Command, 3” – to take a screenshot.
  • You can edit it by clicking the thumbnail on the corner of your screen.

If you are on an Android phone, then:

  • Press the “volume down” and “power” buttons at the same time to take a screenshot

If you are on an iPhone, then

  • Press the “home” and “power” buttons at the same time.

Now, you need to save the picture and move on to the next step.

2 – Go Online and Look for an Image to Text Converter
Now, you need to open a browser and, in the search engine of your choice, look up “Image to text tool.”

This should show you a list of results. Choose any free tool from the list. Most of these image-to-text converters all follow the same design philosophy. So generic instructions will work for all of them.

Image to Text Converter
Image to Text Converter

Alternatively, if you are on a phone, you can search the same phrase on your particular OS’s market place: i.e., Google play store, or Apple Appstore. Then download one of the free apps.

Google Play Store
Google Play Store
3 – Upload Your Image to the Tool/App

Now, you need to upload the screenshot that you took into the tool or mobile app, whichever you are using.

This is as basic as simply copy-pasting the image into the tool’s/app’s interface. However, some tools and apps also have advanced options for inputting images such as:

  • Using a link to an online image as an input
  • Letting users browse their devices for an image
You should use the method that is the easiest for you to input the image. As an example, we will take the excerpt of our own post (you can use it for LinkedIn) and copy it using an OCR app on a phone and on an online tool.
OCR App
OCR App - Online Tool
Photo to Text Scanner App - Apps on Google Play
Photo to Text Scanner App

4 – Submit the Image and Get the Text Output

Once you have inputted the image into the app or tool, you have to confirm your decision to extract the text from it. The tool/app will take a few seconds to process the text, and then it will give you the text output.

Submit the Image
Online Tool
Scan Results
Mobile App

“This text is edit-able and copy-able. You can use it and post it on your own profile for sharing to improve its outreach. And that’s it. With the help of tools, you can forego manual transcribing and copy text from images quickly. We also saw that the same can be done with an image-to-text app.”

Conclusion

“We have shown you how to copy text from an image using either a mobile app or an online tool. While the title of our article may have implied that this method applies only to LinkedIn posts, you can actually use this for all kinds of articles that have anti-copy measures.”

“All the tools and apps we used in this demonstration are free to use and don’t require registration, either. So, you can follow along without any issues.

And before we leave this subject (LinkedIn), we need to say it: LinkedIn makes a great platform for businesspeople. Check out our other posts on LinkedIn’s advantages.“

Author Placeholder

By EMILY LUNA – Email: emilyluna072@gmail.com

7 Tips to Stay Focused on a Working Vacation

Seven Tips for Staying on Task When on a Working Vacation

Part blessing and part curse, but generally a delight regardless, a working vacation ticks all the right boxes for many a worker. On one hand, you get to enjoy your vacation while still producing results. On the other hand, you find yourself challenged to balance work and leisure, particularly if you travel with others. To help you stay on task and ensure your working vacation falls more on the blessing side, consider these seven tips.

1 – Set clear work hours

To avoid and imbalance of work and play, set clear work hours for yourself. By setting work hours, you plan leisure time accordingly. Clear working hours on a working vacation ensure you maintain a healthy work-life balance. With planning, a schedule allows you to enjoy your time off and traveling companions. Set clear working hours in these three ways:

  1. Establish a schedule: Create a work schedule that outlines your total allowable working hours and the times when you will be available for work-related tasks. Stick to your schedule as much as possible to avoid working outside of designated hours.
  2. Communicate with colleagues: Inform your colleagues about your working hours and let them know your availability to respond to messages and emails. Make sure to set expectations about your response time. And establish boundaries to avoid being overwhelmed with work tasks.
  3. Utilize technology: Use technology to your advantage to help manage your workload and avoid working outside of designated hours. Set up email filters or notifications to alert you only during work hours. Also, use productivity tools to help you stay on task and avoid distractions during designated working hours.

2 – Plan ahead for your working vacation

Before your vacation, make a list of tasks you need to complete as you travel. By outlining your tasks, you hit the ground running and stay focused on your work. Planning tasks helps you maximize a working vacation in several ways:

  1. Prioritization: By planning ahead, you prioritize work based on importance, urgency, and feasibility. This allows you to focus on the most critical tasks and complete them efficiently.
  2. Time management: Additionally, planning tasks helps your efficiency by allocating specific time blocks for work and leisure. This ensures that you complete work on time while also scheduling time for relaxation and pleasure.
  3. Reduce stress: To reduce stress, implement a clear plan for your tasks. By doing this, you accomplish your work in a more organized and relaxed manner.
  4. Increase productivity: With a clear plan in place, efficiency and productivity increase. Therefore, avoid wasting time on less important tasks and stay focused on completing priorities.

3 – Create a designated workspace

If you’re staying in a hotel or Airbnb, set up a designated workspace where you can work efficiently. If you do, you realize several benefits, including:

  1. Increased productivity: Once again, productivity carries a high value on a working vacation. When you designate a workspace, you separate your work life from your vacation life. Consequently, this increases focus as it reduces distractions by the various leisure activities and sights around you.
  2. Better work-life balance: By creating a designated workspace, you set specific hours for work. Stick to them, so there is time to enjoy your vacation fully without work guilt or work stress.
  3. Reduce stress: When you have a designated workspace, you reduce the stress of trying to find a place to work. Each time you plan to set up for work, you won’t seek out a new quiet space, nor spend time looking for the tools you need to complete your tasks.
  4. Improve organization: Once defined, your designated workspace keeps you organized as you have identified things you need to work such as wall outlets, access to refreshments, and a lovely, but not-too-distracting view.
Working Vacation designated workspace
Working Vacation designated workspace

4 – Disconnect from distractions

To begin, the goal of a working vacation is to balance work and leisure activities. Be sure to prioritize self-care and relaxation to make the most of your time off.

  1. Turn off notifications: The notifications from your phone easily rank as the simplest and most intrusive distractors. Turn them off when you sit down to work.
  2. Log out of social media:  While you work, log out of all social platforms, so you are not tempted to share a selfie or engage with a friend.
  3. Reduce the sensory distractions: 
    1. Next, consider using noise-canceling headphones to block out any distracting sounds.
    2. Lastly, don’t park yourself in a location where the view opens to a lot of activity that can pull your attention away from work.
Working Vacation Distractions
Working Vacation Distractions

5 – Take breaks

Just as in the office, while on a working vacation, take regular breaks during your work sessions.

  1. Work in increments: For example, set your timer for 45 minutes of focused, productive work. Then, take a 15-minute walk around the property to recharge your creative batteries.
  2. Schedule a coffee break:  For this, plan ahead to grab a coffee or refreshment after you complete a specific task. These little rewards balance your work and vacation pleasure in doses.
  3. Plan an activity: To increase your level of satisfaction, plan your workday around longer breaks for meals or leisure activities.

6 – Avoid procrastination

Put off the temptation to procrastinate. Instead, get your work done first thing in the morning. This way, you can enjoy your day without the weight of work hanging over you.

7 – Stay organized

Keep your workspace and schedule organized to maximize productivity and avoid wasting time.

Finally, set realistic goals for yourself. Don’t expect to complete all of your work in one day. Prioritize and set achievable goals so that you can stay motivated and on track.

The Working Vacation: A Vacay That Works

In conclusion, a working vacation can be a great way to get work done while still enjoying your time off. Honestly, many travelers who happen also to be workers find themselves doing a certain amount of work on their travels anyway.

They do this even without having declared the trip a “working vacation.” So, in some ways, calling it by its rightful name helps one take ownership of it. And make the most of it.

By setting clear work hours, planning ahead, creating a designated workspace, and disconnecting from distractions, you can stay on task and make the most of your vacation. While you plan your trip, check out our advice on making any business trip enjoyable. Safe travels!

10 Best Social Media Tools For Every Online Marketer

10 Best Social Media Tools For Every Online Marketers

Social media marketing is not an easy task. Social Media tools make the job easier. Reaching a large audience and building a significant following requires effort and consistency. It never happens overnight. There are many strategies one can employ, but no particular process that works for every business. To assist as you reach toward your business goals, employ some social media tools. They not only save you time, they save you money.

It goes without saying that one necessary element for your marketing efforts is reliable access to the internet. It is a hindrance to have a poor internet connection that stifles your ability to fulfill  your daily work load in the office or at home. One service to consider is Spectrum. Spectrum offers a simple plan with month-to-month billing, high speeds, and a personalized interface through My Spectrum. Once you’re set with dependable connection, you can build your social media marketing skills and use these tools best suited to move your business ahead.

Here we will discuss several of the best tools that you may employ to facilitate your social media marketing.

Buffer:

To begin, let’s look at Buffer. Buffer is a scheduling tool for different social media platforms that include LinkedIn, Google+, Pinterest, Facebook, and Instagram. It fills the social media feed with relevant posts without wasting time to find content. It lines up content in the queue in a schedule. It also provides three functionalities: publish, analyze, and reply.

Pricing:
Pricing starts from $6 per month for each social channel.

Hootsuite:

Next, we look at Hootsuite. Hootsuite handles and brings multiple social media accounts under interface. It enables businesses to follow their customers and interact with their brands. You may create a free Hootsuite account. Plus there is a paid version for collaboration with team members.

Pricing:
The price starts from $19 per month. It is for 1 user and 10 social media channels.

Social Status:

Another tool, Social status, is a reporting tool that helps social media marketers view detailed analysis of social media accounts. It offers four levels that include; profiles, ads, competitors, and influencers. Social status generates the reports for these levels. Social Status incorporates Facebook, Instagram, LinkedIn, and YouTube. It provides access to analytics dashboards for your social media accounts.

Pricing:
Plans are priced from $29 per month and it includes 10 social media channels.

Meet Edgar:

Now, another tool to examine is Meet Edgar. Want to manage your social media content? Meet Edgar manages traffic and re-sharing content. This tool is the content manager. It works for Facebook, LinkedIn, Twitter, and more. One benefit of Meet Edgar is that it boosts engagement by running the posts regularly. Additionally, it keeps the audience engaged with different types of content.

Pricing:
The monthly cost starts at$19 per month and entertains 3 social media accounts.

eClincher:

For social media marketers, publishing content is quite a task. eClincher is a tool for content publishing. It monitors reach, engagement, publishing, and listening. The eClincher process is easy to use and publishes the content repeatedly within time intervals.

Pricing:
The package price point begins from $59 per month and entertains 1 user with 10 social media channels.

Visme:

For consideration, Visme is a tool is designed to create visual content for various social media platforms. It provides the option to add graphics, videos, presentations, and all types of content to fit your brand strategy. It offers more than hundreds of templates, animated characters, and pictures along with the editor.

Pricing:
There are two options: $29 per month for designs and $59 per month for business plans.

Socialalert:

Next, look at Socialalert is the tool that keeps the main focus on the performance of all the accounts and channels. It helps to track the keywords and hashtags which help in the growth of the business. It engages the customers and targets the right audience by providing relatable content. It analyzes the posts, engagement, users, and top mentions that help the business.

Pricing:
Socailalert starts from $9.95 per month and entertains 2 accounts.

Tailwind:

Here again, this social media tool is geared towards Pinterest and Instagram users. It tells the best timing and occasions for the post to be shared to engage large customers. It offers schedule options for Instagram and Pinterest.

Pricing:
Tailwind pricing starts from $14.99 per month.

Post Planner:

It’s true, many people enjoy this popular tool. With the help of Post Planner, schedule content so it will be discovered. Post Planner supports the majority of the main social media networks.

Pricing:
Post Planner’s economical plans start from $4 per month for 3 profiles and 1 user.

Loomly:

Because of its integrations, Loomly is another popular tool for social media management. One of its advantages is that it integrates with Slack and Microsoft Teams. It is designed for branding and content development purposes.

Pricing:
Loomly’s pricing starts at $25 per month and entertains 10 profiles and 2 users.

Final words and Last Thoughts:

Summing it up, social media marketers should stay up to date with the latest things that are becoming trends and that people are interested in. Staying active and engaging makes the path a little easier. For managing the smoothest business and to get social media marketing in proper shape, these tools must be a part of social media marketing campaigns. It will increase the effectiveness and efficiency and give your name a boost on the platform and in monetary terms too.

For even more social media marketing, check out these related articles.

Comparison of Twitter Circles, Lists, and Communities

The Rise of Instagram Influencers: How They Became an Advertising Power

34 Best Social Media Marketing Tools in 2023 (socialchamp.io)

15 must-have social media marketing tools for 2022 – Biteable

How to Build Android Apps with a Bootcamp

How to Develop Apps on Android Through an Android Bootcamp

If you have wanted to develop your ideas and turn them into apps, you may have already considered attending an android bootcamp. An android bootcamp can help you develop your ideas. More, it can help you turn your ideas into a fully functional user-friendly app. Bootcamps vary with regards to what they offer, as well as to when and why. Establishing what matters most to you, as well as to your app, will help you select the right bootcamp and aid your app development.

Finding the Best Bootcamp

You might find that multiple bootcamps exist. Some of these exist online, while others take place in the real world. When it comes to finding the best fit for you and your app, do your research. Look at what past participants have said about the bootcamp. Does their feedback indicate that their knowledge improved from being part of an android bootcamp?

Also think about what type of app you want to create and develop. Then decide if the bootcamp can (or will) focus on this. Weigh the various offerings, keeping your specific needs in mind, to help make that decision a little easier.

Understand Best Practices

You want your app to be awesome. And you want to make sure it is competitive. To ensure this happens, you need to understand and follow best practices at all times. Hands-on bootcamps, and even virtual bootcamps, will help you understand what best practices you should be following and applying to your app. They will demonstrate how best practices can help you build user trust within your app, and help you build a strong and positive reputation.

Top Tip: Look at what other bootcamps developers and creators may have used (and when). If you have basic coding skills, you may find the bootcamp you are looking at is too elementary for your needs. Try reaching out to other developers and see what they learned from bootcamp attendance.

Having an Action Plan for Your Apps

Once you have selected the best bootcamp for your app, start working on an action plan. What do you want to achieve for your app? And what area of development would you like to focus on? For instance, are you going to focus on functionality, or on ease of use and access? When you have an action plan for the development of your app, you stay firmly in command of what you want to achieve. When you are developing apps, it can be easy, without a plan, to lose sight of your goal.

Creating a Development Timescale

A bootcamp will help you focus your efforts. Also, it will help you create a workable and realistic development timescale. Developers must carefully gauge how much time they need to complete a project. They must do this before committing to the job. But just as important, they must budget and track their time, to avoid so-called “scope creep.” To stay within time constraints, you need to make use of a development timescale. This can then be applied to any coding project you undertake. Establish what you want to do, and by when, with your app. This timescale will help you turn your vision into reality.

Oh, and when you have become the proud parent of a new app, nurture it with the promotion it deserves. Get a head start on that with this “Simple Guide to Business Promotion.”

Book Review “Start Your Own Business” by Rieva Lesonsky

Book Review "Start Your Own Business" by Rieva Lesonsky


When you decide to start your own business you set yourself to one of life’s great challenges. Launching a business can be both exciting and daunting. It requires dedication, hard work, and a strong understanding of what it takes to be successful. The book Start Your Own Business by Rieva Lesonsky offers valuable insights and practical advice on how to start and grow a successful business. 

Rieva Lesonsky is president and CEO of GrowBiz Media, a custom content and media company. GrowBiz focuses on small business and entrepreneurship. The company also publishes the blog SmallBizDaily.com. Prior to starting GrowBiz Media, Lesonsky served as editorial director of Entrepreneur magazine. 

Steps to Start Your Own Business In what follows, we will outline some of the key points covered in the book.

  1. Identifying a profitable business idea: One of the first things Lesonsky emphasizes in the book is the importance of identifying a profitable business idea. The author stresses the importance of researching the market. She stresses the need to understand the competition. And she urges that you consider your skills and interests when choosing a business. Lesonsky also covers the importance of testing your business idea before investing significant time and money into it.
  2. Developing a business plan: A comprehensive business plan is essential for success. Lesonsky provides step-by-step guidance on how to develop a business plan. These include advice on how to identify your target market, set goals and objectives, and create a financial plan. She also advocates for regularly reviewing and updating your business plan to ensure that you stay on track.
  3. Marketing and sales: Lesonsky covers the various marketing and sales strategies that can be used to promote your business. She discusses the importance of building a brand and creating a strong online presence. We appreciated the fact that she recognizes the tools that social media and email marketing afford for reaching your target market. She also covers traditional marketing methods, such as print and broadcast advertising. And she provides practical advice on how to develop a successful sales strategy.
  4. Financing: Starting a business often requires significant investment. Lesonsky covers the various financing options available to entrepreneurs. She discusses the pros and cons of traditional bank loans, venture capital, and crowdfunding. Moreover, she provides advice on how to secure funding for your business.
  5. Building a team: Lesonsky highlights the importance of having a strong team in place to support your business. She covers the key steps to finding and hiring the right employees. You’ll find discussion of the importance of providing training and support to help those employees succeed. And the author knows and extols the virtues of managing your employees effectively, including setting clear expectations, providing feedback, and recognizing and rewarding success.

What Others Have Said About Start Your Own Business

Checking out the sentiment on GoodReads, one finds this to be a popular book with 166 readers who gave the book a rating of 3.73 out of 5 stars.

“A must-read book on entrepreneurship for knowledge workers and aspiring entrepreneurs.”  – Lori G., GoodReads

“A good introduction to what it takes. However, this book is rather too thick in my opinion, and is perhaps too broad to be truly useful. This book covers all types of businesses from store front services to manufacturing to bars to software concerns and more.”  – Josh R., GoodReads

Incidentally, another book we have reviewed and that we found valuable for entrepreneurs (albeit in an indirect fashion) is The Tipping Point, by Malcolm Gladwell. 

the bottom line

Start Your Own Business by Rieva Lesonsky is a helpful resource for anyone looking to start and grow a successful business. The book covers the key points that entrepreneurs need to consider. These range from identifying a profitable business idea to securing financing and building a strong team. Whether you are a first-time entrepreneur or an experienced business owner, this book provides valuable insights and practical advice to help you succeed.

Why Oilfield Service Companies Should Use Social Media

Why Oilfield Services Companies Need to Use Social Media

A mainstay of the oilfield, the oilfield services sector, finds itself today in a highly competitive market. Especially in the prolific Permian Basin of West Texas and S.E. New Mexico. The rise of digital marketing and the increasing prevalence of social media has brought new means of messaging. And also brought new channels on which to compete. 

Oilfield Services Have Much to Gain

But oilfield services in the Midland/Odessa region of Texas’ Permian Basin and in the Hobbs, N.M., area of the Permian can profit from this trend. Opportunity beckons for forward thinkers ready to evolve and embrace the power of social media to grow their businesses. Consider some of the advantages (below) of adding a social media marketing effort to your business strategy.

  1. Oilfield Services Need a Big Reach
    To begin with, social media provides a platform for oilfield service companies to reach a wider audience, beyond their traditional marketing methods. By creating and maintaining a strong online presence, service companies target new and existing customers in the key locales of the region (Midland, Texas; Odessa, Texas; and Hobbs, N.M.), as well as customers across the country. With millions of active users on platforms like Facebook, Twitter, and LinkedIn, oilfield service companies have a vast audience to engage with and promote their services to.
  2. OFS Companies Need a Strong Online Reputation
    Social media brings oilfield service companies another advantage by building a strong online reputation. For example, social media provides an opportunity to showcase services, expertise, and commitment to the industry. By sharing valuable information and updates on industry developments, companies demonstrate their knowledge and position themselves as leaders in the field. Social media also allows customers to easily provide feedback and share their experiences with the company, which can be leveraged to improve their services and build a positive reputation in the market.
  3. Get Enhanced Customer Engagement
    Creating a direct and personal connection between oilfield service companies and their customers furnishes another valuable benefit from active participation in social media . By responding to customer inquiries and comments on social media, companies demonstrate their commitment to customer satisfaction and improve customer engagement. By creating engaging content, such as interactive graphics or callouts of newsworthy industry trends, oilfield service companies provide customers with a better understanding of their services and products.
  4. Cost-Effective Marketing for Oilfield Services
    Looking for cost-effective marketing options? Fortunately, social media marketing fills the bill. Oilfield service companies can tap a large audience and build their brand while keeping costs reasonable. Unlike traditional marketing methods, such as print and radio advertising, social media marketing costs are comparatively low. Thus, social media marketing makes sense for companies of all sizes. Additionally, with the ability to target specific demographics, such as location and interests, oilfield service companies can ensure that their marketing efforts are reaching the right audience, thereby increasing their return on investment. Of note, there are several factors that impact the cost of your social media management. Knowing these factors  as you plan your social media keeps your marketing expenditures on budget.

From our experience, oilfield service companies in the Midland and Odessa areas of the Texas Permian Basin, and in the Hobbs area of the New Mexico Permian, gain much by embracing social media marketing to stay competitive and grow their business. For some who are doing it right on social media, check out Integrity Wireline, Halliburton, and Nabors.

Social Media for Oilfield Services

Social media delivers the ability to reach a wider audience, build a strong online reputation, enhance customer engagement, and provide cost-effective marketing. We recommend you harness the power of this marketing tool to succeed in the oil and gas industry.