5 Surefire Tactics For Reducing Overall Business Debt

Debt can be a drain on a business, especially if you are hoping to end the year in green, we will discuss some strategies to help you get closer to that goal.

Considering a renegotiation of loans whilst also pursuing other opportunities such as grants can be a great way to reduce or eliminate this debt.

Keep reading for three other life-saving methods to consider as well.

Renegotiating the Terms of your Current Loans

If you currently have loans that are proving difficult to pay back due to existing debt, it might be worth considering with your lender if you are able to renegotiate the terms of these loans and sort out a mutually beneficial agreement.

By expressing the hardship of the current loan on your finances, you may be able to secure an agreement to change the terms of the loan. This could be a reduction in interest rates for example, or simply changing how frequently the loans are paid, allowing you that extra time for other beneficial financial decisions to help keep your business up and running, allowing you to build towards the reduction of your debt.

Using Grant Opportunities

It is extremely likely that your business may be eligible for grants from entities such as the government or other entities with a goal in mind that you help to pursue. For example, your firm may specialise in an area that supports a key government objective, and if you believe this may be the case, it is worth getting in contact with them to explore any options available.

Further to this, in the current pandemic, you are likely to be able to access some potential grants to support you at this difficult time, and these are great at reducing your current debt.

Focusing on Eliminating the Debt as Opposed to Other Objectives

If you are in a stable position in regard to your company, and your finances appear to be the only difficulty, it might be worth diverting your attention away from other opportunities for growth to focus on eliminating your debt.

It may be worth making conservative decisions at this time, such as not hiring new employees such as marketing directors to promote your social media presence if it is relatively stable at this point in time. This allows you to focus on the task at hand, reducing extra unnecessary costs in the short term.

Focus on Increasing your Sales

However, as a business, you must run an analysis to see if the previous point is the best option, as it may be worth incurring that short term cost if it is likely to return positive results, such as increased sales, money from which can be used to pay off such debts. In which case, alternate strategies may be necessary to pursue.

Tapping into Your Networks

Finally, if you have crippling debt, consider using your network to help you. You may have family and friends who can help you pay off existing loans if they believe in the long-term success of your business.

Top 5 New Challenges Facing Entrepreneurship, and How to Rise Above Them

The world continually challenges us to be our best possible selves, but how can entrepreneurs best ensure that they are prepared for these challenges?

From company conduct to company communication and the impact imposed by COVID-19, we will discuss the best responses for entrepreneurs to take.

Keep reading for 2 more challenges that entrepreneurs must consider in their future plans as well.

Company Communication

The COVID-19 pandemic has revolutionised the way that we work. We have begun to take to our desks at home to get the job done, and this has severely impacted the ability of your company to communicate with each other. As workers are no longer in a concentrated area in their offices, entrepreneurs are becoming increasingly worried as to how best to meet company targets.

A great way to boost communication methods is through the use of video streaming services such as Zoom. This allows the concentration of your team into one area once again, and assuming no technical difficulties, allows the re-establishment of clear communication.

Company Conduct

Consumers are becoming increasingly interested in a company’s position on social issues, and this is a crucial challenge to entrepreneurship. If you are unable to understand what your consumers want, it might be difficult for your company to appear reliable.

As an entrepreneur, by gauging an understanding of consumer wants in your approaches to things, you may be able to implement more environmentally friendly initiatives, for example, showing consumers that you are a company that cares about the wider issues and not just about business.

Company Competitiveness

As an entrepreneur, you will always be competing against the next best person, but COVID-19 has severely changed the way that we do business. It is not worth targeting your marketing strategies to things that people are only going to see if they enter your stores, as online purchasing has skyrocketed.

For this reason, it is crucial that you develop your social media presence and begin creating a presence on there that your consumers can interact with, allowing you to remain more competitive in a much more difficult world.

Company Health

Whilst doing business is the primary goal of any entrepreneur, considering that your workers, and yourself, need to take care at such a critical time is also crucial to productivity and overall happiness. This is because it can actually damage internal relations if people are dissatisfied, making this a top priority matter.

Taking frequent breaks is a great way to look after yourself, and understanding that some workers may be more affected than others shows your willingness as an entrepreneur to be considerate and caring of your workforce.

Company Finances

Finally, money may be tight at the moment due to the impositions of the pandemic, and it is important to realise that asking for help is necessary at this time.

If you have loans, speak to your bank about potential extensions, and tap into your network to see if they are willing to support you in any way possible.

How To Make Money Online Just By Answering Surveys (Yes, You Read Correctly)

The idea of learning how to make money online may seem a bit challenging for some, especially when you are a bit skeptical about all the possible ways that are offered online. However, there are a lot of legit ways on how you can make money via the internet and earn a lot of money effortlessly. All it takes for you is to find the right place where you can get the job.

One of the easiest and most popular ways on how to make money online is through answering surveys. You just need to answer the surveys from popular companies in the most honest way possible. These surveys are given to people like you for the companies to know the areas where improvements must be done or the areas or things that they are doing right.

Most of the time, surveys would only include a few questions while there are some that would take at least an hour or two. Once you are done, you can submit the answered survey and then get another survey and get paid for every job you take. What makes it really interesting is that there are some companies where you can choose the kind of surveys that you can take or pick a survey that pays more than other surveys.

What Makes Taking Surveys a Great Option for Making Money Online

What makes taking surveys a great option for making money online is the fact that companies want to get honest answers from you. This means that whether you have positive or negative answers, these answers are welcome. Also, you get paid whatever your opinion is. There is no right or wrong answer with the surveys. You just have to answer in all honesty and companies will be more than willing to pay you for it.

The main goal behind every survey is to give the company honest feedbacks that will help them find ways of improving their products or services. At times, they get new ideas from these surveys and even introduce new generation of products that can answer all of the concerns you have provided in the survey.

Where to Take Paid Surveys

For you to get started in this type of job, the first thing that you must do is find a company or a legit website where you can sign up and take surveys. There are a lot of websites where you can get paid surveys and some of them are:

Swagbucks

This is a very popular survey company that gained high ratings from its survey participants. The convenience and accessibility of the site is what made most participants love it. They also provide a high level of privacy and a decent payout process that allows participants to get their payout easily.

Vindale Research

Among the reputable companies that you should not miss trying is the Vindale Research. Their participants gave them an overall rating of A due to their impressive accessibility, payout schemes and a lot more.

These are just some of the top survey companies where you can sign up and earn around $5 to $75 per survey. You just have to be familiar with how everything works and get started in your new source of income.

Meet The Entrepreneur Behind The Cover Of The June 2021 Issue Of MoneyCentral Magazine: Aaron Villa

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Aaron Villa is a crypto analyst and a self-made millionaire – he’s the founder and CEO of A1PHA Trading & Investing. He is a cryptocurrency trader and blockchain expert, certified by the blockchain council. He has been a crypto coach since 2017 and is deeply knowledgeable. He has created multiple courses, formed mastermind groups, and shared a lot of informational tools and tips regarding cryptocurrency.

MoneyCentral magazine recently caught up with Aaron to discuss his journey as an entrepreneur and here’s what went down:

When did your entrepreneurial flair first reveal itself?

I first realized my entrepreneurial flair when I was in college, I got involved with a lot of networking businesses. Also, I watched my parents build and grow their business as a child which influenced me to become an entrepreneur. When I became a Registered Nurse in the USA two years into my career I realized that it was not for me and that I did not want to work for someone else. I wanted my freedom and to be able to do the things I want to do whenever I wanted.

How did your life look like before being an entrepreneur?

Before becoming an entrepreneur I was working full time as a Registered Nurse. I did 12-hour shifts 3-4 times a week. On top of that, I also began my MSN degree to become an Acute Nurse Practitioner. And on my free time, I worked on learning and educating myself everything about investing in cryptocurrency and blockchain technology.

As an entrepreneur, what is it that motivates and drives you?

As an entrepreneur, I am motivated to prove to myself constantly that I can be successful in all aspects of life. Achieving those goals and growing as a person.

In one word, describe your life as an entrepreneur and explain why.

Exciting. My life as an entrepreneur has been exciting because every day I wake up knowing that I am going to do something I love and am passionate about. I get excited to create new things, connect with new people, see new places, and learn along the way. It also excites me to know that I can also spend more time with my family more as I pursue these things.

What were your top three motivations for starting your business?

1. Freedom to be able to handle my own time.

2. Passion, which allowed me to work day in and day out without getting tired.

3. To be able to create my own future by following my own timeline and pursuing all the goals that I set out to do.

What do you put your success down to?

My success is because of my passion, dedication, and consistency. Also having the right mindset and the right partner (my wife) who constantly guides me throughout my journey.

What would you say are the key elements for starting and running a successful business?

The three elements to running a successful business are first of all loving what you do, valuing relationships with people, and remembering your why. I also believe that the more you give, the more opportunities and blessings that come back to you. So giving back to your community is also important.

What are the three biggest challenges you have faced growing the business and how did you overcome them?

The biggest challenge at first was lack of time and dealing with uncertainties.

When I started A1PHA trading and investing I was also still working as a Nurse. I enjoyed teaching clients about cryptocurrency but I didn’t put much time in. Instead of focusing on doing what I wanted, I had to fulfill my responsibilities at my job. I was a bit uncertain about going all-in with my business because I was used to having a steady income coming in monthly as a Nurse. But as soon as I took that leap of faith to grow and really focus on my business, that’s when I realized that I could actually do this and quit my job. And so far I don’t regret my decision and I never looked back.

Does the loneliness of the entrepreneur really exist?

Yes, it can be lonely at times, but being alone while doing what you are passionate about can be addicting because I can spend countless hours doing what I love without any distractions.

As you grew the business, what have been some of the most important leadership lessons you have learned?

Leadership lessons that I’ve learned are to delegate by outsourcing, managing your time wisely, and learning how to take breaks.

I want to see more small businesses being started and being successful because I myself support small local businesses. I find that in a way, I am contributing to my community and helping another individual no matter how big or small.

You can follow Aaron on Instagram via these links: Alpha Trading I Aaron Villa

5 Things To Keep In Mind Before Quitting A Job To Become A Full-Time Entrepreneur

If you’ve just decided to make that leap into entrepreneurship, it is important to make sure that you are successfully prepared to do so.

By following our tips on creating viable plans as well as making sure that you trust yourself, we will explain the 5 most important things to consider.

Keep reading to make sure you become successful in this business venture!

Leaving Amicably

Once you make that all-important decision to quit your job and pursue your own career in entrepreneurship, it is important to retain the relationships that you have made. It is usually a bad idea to leave a bad footprint in the business world, as you never know what your future will hold.

For example, showing decency by handing in your resignation within plenty of time gives your employer enough time to make alternative arrangements in hiring someone else. Furthermore, you may actually need to come back if all else fails, it is always great to have a plan B!

Trusting Yourself

Before you make that big jump and resign, you really need to believe in the potential success of your idea. You need to make sure that this idea has the potential for a great turnaround opportunity for you.

You can do this by undertaking some market analysis, allowing you to see how difficult it may be to pursue your goal, by considering things such as any barriers to entry that needs to be considered, whilst also running some financial statistics on the viability of the execution of your idea.

Financial Planning

Running some financial statistics is an extremely great idea to ensure that you won’t run into many problems in starting up your business. If you have a list of things such as fixed costs and variable costs already in your repertoire, you are more likely to be able to use this money in a much more efficient way, increasing your chances of success.

It is also important to run some numbers on the period between launching your business and leaving your job and making sure that you have enough money between this gap to be able to pursue your ideas. If not, it may be worth considering your plans at a later date.

Gain Perspective

Understanding alternate opinions is a great choice to consider when launching your business. Those doubts that a parent or a friend might have could be extremely valuable in allowing you to understand the pitfalls of your own ideas. This outside perspective is likely to make you more aware of these, increasing your chances of success entrepreneurially.

Successful Preparation

Finally, whilst financial planning is important, it is crucial to consider an overall plan to promote the chances of business success. Producing a step-by-step plan on how you aim to achieve things at certain times can make your mind much clearer, allowing you to be more organised and thus promote the chance of entrepreneurial success.

Entrepreneur Spotlight: Find Out More About Bestselling Author And Speaker, Midori Verity

Midori Verity helps driven professionals break through the mental challenges that have slowed them down, and unlock their potential. She’s a best-selling author, speaker, and show host.

She has a degree in Communications and Sociology from the University of California, Davis. Midori is also a Certified Behavioral Specialist. She’s proud to be an Advisor for the global organization, Women Network, and an active board member for Child Parent Institute in Santa Rosa, CA. Midori’s been featured on FoxNews, CBS, Martha Stewart Weddings, Thrive Global, and many other media.

StarCentral Magazine recently caught up with Midori to discuss her journey in the industry and here’s what went down:

When did your entrepreneurial flair first reveal itself?

My mom had a flower-arranging business. She was incredibly gifted, but she was more focused on giving her products away. I remember wanting her to become successful. However, she was happier doing beautiful flower arrangements and sharing them with the world.

This experience probably was the igniter to my entrepreneurial path. I so greatly wanted to see her receive the financial value of what she produced.

How did your life look before being an entrepreneur?

I started working at around 14 years old. I always had the drive to learn all I could at every job I had. One of my first jobs was at Heller’s Baby News. I made the manager train me on closing out the books at night. I also soaked in all he told me about merchandising, pricing, and Mr. Heller’s business success.

As an entrepreneur, what is it that motivates and drives you?

I love the adrenaline of creating something of value and raising it to success. It’s really my only hobby and what I’m good at (laughs)!

I’ve learned to align my core values, motivations, and Zone of Genius (natural gifts) with my businesses. That has been a huge game-changer in my success.

In one word, describe your life as an entrepreneur and explain why.

Exhilarating.

As an entrepreneur, my brain never shuts down. I’ve learned to think bigger and push myself past boundaries. The thrill of the journey is what makes my life exhilarating.

What were your top three motivations for starting your business?

I’ll talk about my Mindset Coaching business because it was the first business I made sure was in complete alignment with my Personal Mission Statement, which states “My journey through life is uplifting and fun while using my optimism and skills to inspire others to achieve their potential.”

Core values: I help people breakthrough mental challenges and rewire their mindsets to unlock their potential

Passion: There’s nothing I love more than watching people who feel stuck, overwhelmed, or even depressed step into a more empowered and happier version of themselves.

Zone of Genius (natural talents): Inspiring others and showing them how to transform their minds and therefore transform their lives is a second sense for me.

What would you say are the key elements for starting and running a successful business?

Test, test, test! Make sure your concept is something that’s needed before launching. You can test it by simply going to where you think your clients hang out and ask them.

Make sure you factor in confirmation bias, which means that we often twist things around to confirm what we want to believe.

The second most important element is to get professional help in creating the foundation of your business. You can waste a ton of time, money, and sleep if you don’t have a solid business plan.

What are the three biggest challenges you have faced growing the business and how did you overcome them?

Finding clients. I had to do a lot of trial and error before I found what worked. Once again, learning my Zone of Genius was of incredible value because it taught me to focus on what I’m good at and avoid what I stink at!

Closing sales. I had sales scripts and went to expensive classes. All it did was stress me out. Once I threw the scripts out and started listening only with my heart did everything change.

Shiny objects. I’ve disciplined myself to stay uber-focused on my 90-day goals. I even use a system that Google, Intuit, and Bill Gates Foundation uses called OKR’s – objectives and key results, which has been a massive game changer!

What form of marketing has worked well for your business throughout the years?

Word of mouth and live interviews. People get to see my authentic personality when I’m speaking on camera or a podcast. Then they know if they want to work with me, or they can’t stand me.

As you grew the business, what have been some of the most important leadership lessons you have learned?

Have a clear mission and vision statement that your entire organization knows and lives by. I train my leaders to consistently question if new ideas are in alignment with our vision and mission.

Big Fat Hair Goals. This creates excitement for my team. We implement the OKR system to make this all work.

What is the best advice you have ever been given?

Delegate all that you are not gifted at or slows you down. Spend 80% of your time working on the most important elements of your business that you love doing.

What advice would you give to a newbie Entrepreneur setting up their first business?

This goes back to my earlier answer of test your concept and get a mentor.

What Is Personal Branding And 5 Good Reasons Why It’s More Important Than Ever

Living in a digital world, it is incredibly important to focus on your personal branding. Your brand is something that will get people to talk about you. It’s what inspires people to turn to you for the particular expertise that you offer. Your personal branding is how others view you, making a significant difference in the likelihood of job prospects or selling your products or services. This article will look at the top 5 reasons why personal branding is so crucial to your success.

  1. Building an Audience

In a digital world, your audience will actually determine your value to other potential customers. For instance, imagine a popular YouTuber. A good YouTuber, one that has a solid fanbase, has a massive audience. This audience attracts new people to their audience. The same applies in the business world. People will see your value thanks to your personal branding, which means that they will be more likely to hire you or trust you to provide the quality products or services that they are looking for. Once you build an audience, you can leverage them to be more successful.

  1. Have a Competitive Edge

There is a lot of competition in the digital age, so having a strong personal brand can give you the competitive edge that you need to stand out. They want to trust someone who is an authority in their specific field. You get the credibility that you need that will make customers more likely to trust you to offer the solutions they are looking for. Strong personal branding makes you more valuable than your competition, who may not have as strong of a personal brand.

  1. Create Relationships

Connecting with other people is so important these days. You need to network and market yourself to be more attractive to prospects. Through personal branding, you can connect with other people. As you connect with people and form relationships, you can spend time nurturing these relationships. Through developing relationships and focusing on them, you create creating loyalty to your brand and increase the chances of people returning to you for your products and services.

  1. Better Networking Abilities

These days, networking is so important no matter what your industry is. If you have strong personal branding, you will be more likely to get invited to events that allow you to connect and network with others. These events can often be so important to being successful and climbing the career ladder.

  1. Better Opportunities

Probably most importantly, personal branding can unlock amazing opportunities for you. After you have created an audience, built up your authority in the industry, and formed relationships, you can start unlocking better opportunities. You can capitalize on your personal branding to get a better job, achieve your goals of being an influencer, or start getting more sales.

Personal branding is essential to helping you become more successful and advance your career. This is why it’s so important to focus on building a strong personal brand.

Entrepreneur Spotlight: Find Out More About Andrea Franco

Andrea is an Intuitive Business Mentor and Coach that helps female entrepreneurs create wildly successful online companies through organic and strategic approaches. Her entrepreneurial journey started in my mid-20s when she built a successful media company. While running this business, she knew that my purpose as an entrepreneur was much bigger than being behind the scenes. This was when the Intuitive Boss Babe brand was born. Since my launch in early 2020, she has generated over $500,000 in cash and helped women scale their businesses to their first six-figure and multiple six-figure years. Thus far, she has served thousands of women to grow their confidence, gifts, and businesses.

MoneyCentral Magazine recently caught up with Andrea to discuss her journey as an entrepreneur and here’s what went down:

When did your entrepreneurial flair first reveal itself?

I created a Twitter that ended up receiving 175,000 followers from my desire of wanting to help women from around the world. I helped women with their relationships and even screen-printed t-shirts. Each shirt was sold through my Twitter, where I would get checks in the mail per purchase! From there, I saw how easy it could be to build a company when you put your time and energy into it. Little did I know that this experience was just the start of my entrepreneurial journey.

How did your life look like before being an entrepreneur?

My life before becoming an entrepreneur included college classes and waiting tables. I started my journey going after my Bachelor’s Degree in Psychology which wasn’t achieved, however, the path I decided to go down led me towards more impact, income, and magic than I ever thought possible. I worked so many jobs trying to find my purpose and passion and quickly realized that it was never going to be working for someone else. Going to EMT school, and then going to school for psychology helped me step into my own path of changing lives, and showed me that I could create it all on my own.

As an entrepreneur, what is it that motivates and drives you?

What motivates and drives me is the inner knowing that I was put on this earth to change people’s lives. I love coaching, and I love watching what happens when someone fully commits to themselves, their visions, and their goals. I believe that an impact-driven business creates a timeless brand and business. I know what it feels like to be broken, wounded, and unsure of the next steps, and I know for a fact that I am here to help women streamline that process as well as call in more ease at a rapid rate.

In one word, describe your life as an entrepreneur and explain why.


Transformational. When I first started my entrepreneurial journey, my life looked completely different. Watching the impact of my business on people’s lives, and how transformational the work we do together is, will never cease to amaze me. And not only has it transformed other’s lives, but it has completely changed my life forever. I now get to run a company that has my heart and soul in it, while changing the world every single day. I have the honor of supporting incredible humans who are doing life-changing work in their entrepreneurial journeys.

What were your top three motivations for starting your business?

My top three motivations for starting my business were impact, transformation, and growth. I knew that I could impact millions with the business, and the intuitive approach that I take, to help create successful brands. I also knew that I could help people grow their wealth, abundance, and overall happiness through the mindset and transformational work that we do together which is why I include that in everything I create.

What would you say are the key elements for starting and running a successful business?

I would say the key element for starting and running a successful business is creating a solid foundation first. When you start from a foundation that is filled with clarity, impact, and drive, you create a long-standing brand and business. Make sure you have a clear onboarding system and growth plan, and you will be off to an amazing start. If you ever need support, hire a mentor or coach to support you. When you commit to your business, there are going to be moments when you feel terrified of the next steps, like those big investments. Always trust yourself.

What are the three biggest challenges you have faced growing the business and how did you overcome them?

First, would be the opinions of others. I grew up in an old-fashioned Italian family around a lot of people who were not in entrepreneurship. So, when I decided to go for it and spend the money that I didn’t have, for a dream that no one but me believed in, it seemed crazy to everyone around me. I felt extremely alone. But I persisted, and now I am more successful and happy than I’ve ever been.

Second, would be organization. When I first started my business, things were messy. It was hard trying to find the flow of things. The back end, the links, the programs, the diversifications can get overwhelming to do on your own. My Online Business Manager was someone who changed my life and really helped add structure and organization to my business. I couldn’t do it without my support and team, but this obstacle definitely lit a fire under me to work on my own flow and be the CEO of my business.

The last would be to surrender. In this industry, it is taught that we should always be going bigger and bigger, but the truth is that business is sometimes ebbs and flows. You have to surrender to the ebbs and flows and know where you are in your own journey. Sometimes I am in a massive creation and planning mode, and other times I’m on fire selling non-stop. Learning my unique personal flow and business flow has changed everything for me so that I can surrender to continue to catapult my income, as well as manage my energy properly.

What form of marketing has worked well for your business throughout the years?

The best form of marketing I have found since starting my online business is organic marketing on social media. I love creating a community through my private Facebook group, The Intuitive Boss Babe. I have grown this group to over 4,000 members that I attribute to the majority of my half a million dollars profit in 2020. Organic marketing is also a great way to get started and call in those soul-aligned clients. Providing value and connecting organically has proven successful for me time and time again.

As you grew the business, what have been some of the most important leadership lessons you have learned?

The most important leadership lesson that I’ve learned is that you should set your boundaries early. You should be “filling up your cup” as much as you pour out when it comes to leadership because an over-exhausted leader can quickly burn out. In my opinion, we need more leaders who care about themselves, as much as they care about everyone else. When we give from an empty cup, it is easier to get overwhelmed. The more that you care for yourself, and are really aligned with your bigger vision, the more momentum you have to go further in your business. In order to grow your brand, boundaries with everyone in your life are critical, whether it be personal or business-related.

What is the best advice you have ever been given?

The best advice I have ever received was to never listen to the opinions of others, and do what makes you happy. When I started entrepreneurship, it caused some of my close family members and friends to try and talk me out of following my dreams. If I had listened, I would have never gotten here. Even though the journey may have looked different than what others expected, I would have never found the success that I have today if it wasn’t for me trusting myself and following my own personal happiness.

What advice would you give to a newbie Entrepreneur setting up their first business?

Focus on creating free value, and being consistent so that your audience can get to know and trust you. When working in an industry that is mainly run online, creating brand awareness and trust should be one of your first focuses as a new entrepreneur. Be willing to make mistakes and learn from them. When you don’t give up, and instead learn from your mistakes and successes, your business becomes limitless. Hold the vision and commit to your evolution.

Introducing The Entrepreneur Behind The Cover Of The March 2021 Issue Of MoneyCentral Magazine: Justin Wang

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Justin Wang is the CEO of PIA (Property Investors Alliance). He is the embodiment of the self-made businessperson. From unassuming beginnings to life as a property magnate – he now personifies the paradigm for financial freedom. MoneyCentral Magazine recently caught up with Justin to discuss multiculturalism in the industry and here’s what went down:

Please Share With Us What Multiculturalism Means to You.

I came to Australia back in 1993 as a young, Chinese, Mandarin teacher. Luckily, the Australian Government heavily promotes multiculturalism in Australia and even encourages students to learn other languages. That’s why I was able to come to Australia, if the government of Australia wasn’t firm advocates of multiculturalism then there’s no chance I’d be able to go to this beautiful country. Because of my background of being Chinese, most of my staff, in the beginning, were also Chinese. But eventually, as the years went by, we expanded and opened our doors to various communities and people from different backgrounds. So now, PIA is made up of people from various backgrounds because embracing multiculturalism is important to me and my company.

Is there a way to help potential clients better understand why buying properties is a must in life?

Based on my personal experience, buying Sydney residential property is definitely the key to financial freedom. That said, making people understand the importance of our concept is a case-by-case basis because every single person has a different background and way of thinking. For example, with Chinese people, we usually follow a long-term wealth creation plan. So if you want to convince a Chinese person about getting into a long-term investment to accumulate wealth for their retirement – the key is to make them understand that buying a property is the best way to help secure the future of the next generation. That said, if you try to convince a young athlete to buy a property, for example, they won’t care too much about looking out for the next generation – they would care more about establishing their own retirement. So you really need to be flexible when it comes to convincing potential clients hailing from different backgrounds.

In your opinion, what is the most challenging aspect of working in a Multicultural Environment?

The real challenge is dealing with people of various backgrounds. Each person has their own set of cultures and traditions so the biggest challenge is making sure our message gets across despite everyone’s different nationalities. We always try our best, even though it can be quite challenging.

What Is Your Approach to Understanding the Perspectives of Clients From Different Backgrounds?

Getting your message across to people of various backgrounds may be very challenging, but I believe that the main recipe for getting your message across is “love.” It doesn’t matter what your background or nationality is, if you put yourself out there and love other people then other people will be able to genuinely feel it. Hence, I believe love is everything.

What are you doing to make sure people from different backgrounds are welcome in PIA?

Most of my staff in PIA are Chinese so I always brief them to be very sensitive when it comes to dealing with other people especially if they come from a different background to avoid any misunderstanding. I always tell them to smile and be friendly so that everyone feels welcomed in the PIA office. So far we’ve done very well because 50% of staff now are from other backgrounds while initially, it was 100% Chinese.

What are your thoughts on how the world will be different after COVID-19, and how are you moving to address that new world?

We all know that Covid-19 caused a massive disaster in the economy. But I’ve always believed that crisis actually creates opportunity. I believe this Covid-19 pandemic has woken a lot of people. When I say it has woken up other people, here’s an example: Back then when you ask someone to buy and accumulate assets to secure their financial security – they would’ve probably said no because they had a job or business so they had income coming through. Now when you talk about it in this day and age due to the effects of the pandemic, it has become important to accumulate assets as soon as possible since job or business security is not guaranteed. For example, as a real estate agent, you have to set up an office, pay for setting up the business, etc.. nowadays you can just work as a freelancer, using your car and laptop – since PIA is now online, anyone can run their business using just a laptop.

What is the greatest challenge that lies ahead for 2021?

2020 has definitely been tough for all businesses and various sectors. I believe the greatest challenge is figuring out how a business can survive or even grow in these tough times.

What opportunities do you see for 2021?

More and more people are more interested to buy in Sydney residential property despite the current situation. The traditional real estate business model is under threat so, this is a good opportunity for PIA to take over because we have a very cost-efficient model. From PIA’s current model, we are starting to create a new platform – Property Agency Alliance, to attract and empower stuggling agents to continually run their business.

5 Surefire Ways To Determine If Your New Business Idea Will Rock The Market

When planning a startup, every entrepreneur wants to make sure his/her business idea becomes profitable. This is to make sure your investment is paid off and your effort is worthy of your time. Choosing a business can be a tough one because of the risks you need to consider. For a new entrepreneur, these precautionary measures can help you decide about the first things you need to do before entering the world of business.

Choose a business based on your strength and personal interest.

Venturing into a totally unknown business is a very big challenge. Choosing a product or service near your personal interest will actually help you gain knowledge on how it works and how most people are likely to use them. You can visualize the satisfaction of your upcoming customers by comparing it to your personal experience as well. This way, you can determine the pros and cons of using the product personally.

Map out the areas of high demand

Products from each area vary depending on the need of the consumers. You need to check if the chosen location where you want to put up a business has potential customers and competitors. Figure out the number of similar businesses in that area and verify the estimated household expenditures who may purchase your chosen product or services. You got the ideal location if the area has a high demand but has little competition.

Know your competition

Analyzing the uniqueness of your product will help you beat the competition. This is one of the most crucial parts for start-ups so it’s vital that you include it in your to-do list. Make sure the value of your product separates itself from other competition. You can evaluate the reviews done by the consumers to check their reputation, to determine if the price matches the quality of the product, and customer experience. This will help you analyze how to please your potential customers and provide their unserved needs.

Check the trends of your chosen product or service and match it with the condition of the industry

Many market research firms can help you assess the market condition based on the selected products and services you want to sell. Having a detailed report helps you get an idea if your business will stay strong not just because it is trending in the industry but because most people need your service. Keeping a longer length of stay in the industry is very important to make sure your business is untouchable no matter how many trends come and go.

Ensure the sustainability of your business model

Make sure you can meet the demand and supply of the product which are the discrete requirements of any business. A thorough pre-analysis which includes collecting information about the price proposal or cost structures, scalability of the product, and revenue models will define your business success rate. On top of these measurements, make sure you have a backup resolution in case a problem persists.

Considering these factors before starting your business will help you prevent failure in the future. These tips are very important if you are aspiring to be one of the most successful entrepreneurs in your chosen field of industry.