Entrepreneurship

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In the search for valuable side hustles, there are many formulas and ideas that are questionable, at best. It’s difficult to know which ones you can make money from, and which “hustles” are simply not worth the time and effort that you have to put into them. 

The Debate

One of the most questionable side hustles out there is poker – for many, poker sounds like an outrageous gambling risk. But others see this as a skill. There are many professional sports out there such as hockey and american football where the monetary stakes are high and yet there is still an element of luck involved.

Talented poker players see the game in the same way and some of these players make thousands, some even millions, playing at live events and on online sites, the most popular of which is PokerStars.

The Similarities Between Poker & Investing

The general idea is that poker is a game of part skill and part chance. The skill element eventually overrides the chance element. Decent players make money by using mathematics to make consistently +EV (expected value) calls. In a way, the life of a professional poker player is very much like that of an investor. Not all plays pay off, but if you consistently make the right investment (or play), you will eventually come out with a profit.

Poker is the only casino game in which it is technically possible to win in this way, because it is the only game that allows you to play against other players. If you are better than them, you can make money from them. The casino, or online poker room, takes a “rake” of the buy-ins or pots.

Of course, it’s important to understand that poker is not a get-rich-quick scheme. Not many players make money in the long run, and the ones that do have studied the game, analysed their play, and practised in thousands of tournaments.

To make matters more difficult, it is not easy to quickly measure your outcomes. Poker players employ a strategy known as bankroll management. Essentially, this means playing at a stake that you can afford, using only a fraction of your total funds for each individual game. This gives the best opportunity to beat the “statistical variance” brought about by the chance factor.

Getting Started – The Safe Way

However, with lots of safe practice at home and with friends, it is certainly possible that you could be one of the stronger players who can make a steady profit. If you want to make this a possibility, start by reading poker books from the people who have already made it happen such as Power Hold’em Strategy by Daniel Negreanu. They can walk you through the psychology and math to help you make meaningful decisions that will bring you the wins.

Then, use play money to practice without any risk – and lots of practice too! It’s possible for any beginner to win a couple of games but you’ll want to play countless times before you can separate your ‘luck from your ‘skill’.  When you are ready, move up to the micro or small stakes sites/apps and start carefully for real. 

Summary

Like any potential side-hustle, there are some considerations to think about. Do you enjoy the game? This is really important. If you are going to study and play for hours on end, you need to have a real passion for poker. Are you able to make more money than your hourly wage? You need to evaluate whether you are looking to make a quick buck or build a valuable skill to benefit you in the years to come.

Poker can be addictive and you need to have an amazing level of self control and logical thinking to do well – be prepared to learn and certainly be prepared to lose! But if you think you will enjoy the game it might just be worth giving it a go.

For most people, this is just a hobby that can occasionally result in a bonus. That’s probably the best way to look at it. Very few people take it all the way, and most people lose, but for those who are prepared to put in the effort, this can be a worthy side-hustle.

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business premises decor

The appearance of your corporate premises can have a large effect on how well your business fares. This could surprise you… or perhaps it doesn’t. No matter how efficient your company’s staff are, their efforts could count for little if many of your potential customers are put off even entering the premises due to a tacky appearance. Here are some ways that you can spruce it up.

When rope access technicians are cleaning windows

The windows on your premises are likely to, collectively, take up much of the outside look; therefore, making sure that those windows are regularly cleaned effectively is crucial. However, ensuring this might not be straightforward if you have windows that are at a high height.

How can you arrange for those windows to be cleaned in such a way that preserves safety for the person doing the cleaning? Actually, you can arrange this by getting in touch with SAS Rope and Rail. This firm has IRATA-qualified rope access technicians who can use their expertise in rope access to physically reach those windows and clean them without risking their safety or others’.

Sign of the times… or the business premises

Many people could be easily deterred from entering your corporate site if it has a confusing layout. After all, they are probably already very short of time without having to try figuring out how to get around what basically looks like a maze. However, particularly if the layout is so complex that it cannot be simplified without a significant amount of manual work, you could help to keep bewilderment at bay once you have strategically placed signage in particular areas.

Signage can also have the advantage of extending your company’s branding colours beyond just its stationary and website – and, therefore, growing the reach of the brand’s power. You can even have that signage secured in especially high positions – such as on the exterior of one of a multi-storey building’s highest floors – with help from SAS Rope & Rail. These technicians can also remove the signage should you later want to replace it with new signage showing refreshed branding.

Don’t leave your reception looking like it has been ransacked

You also need to think about the interior look of your corporate buildings. The reception could be the first space that someone sees upon walking into one of those buildings; therefore, you really don’t want to leave files and paperwork scattered around it.

The Business Support Initiative points out that such untidiness could be especially off-putting if your company has the responsibility of assigning order to other people’s affairs. This would be the case if your company was in finance or accountancy, to reel off just two examples. If your reception appears to be in disarray, why should your company’s customers expect you and your staff to be able to prevent this kind of thing affecting them? Other problems you might be capable of addressing on the premises include peeling paint, left-over blue tack, and graffiti-covered furniture.

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mumpreneurs

With successful female role models such as Arianna Huffington and Karen Brady its no wonder that so many UK mums want to follow in their footsteps. However a recent survey carried out found that there are three top challenges that UK mumpreneurs believe are stopping them from pursuing their business dreams.

The top three reasons that UK mums gave for not starting a business were;

1. It seemed like too big of a risk

This is a completely natural fear of starting your own business felt by anyone giving up the security of their day job and going solo. For mumpreneurs the risk can often seem that bit greater as there is the financial security of your family to take into consideration.  As long as you’ve done the legwork beforehand and are well informed about the steps you need to take to help your business take off, then the benefits in the long run should far out weigh the risks.

2. Not knowing how to get started

Knowledge is power. Before you jump into starting a business of your own make sure you understand the steps you’ll need to take to get started and what you’ll need to do to be successful. There is a lot of usful information available online such as this simple 6 step plan to getting started with your business from the Entrepreneur. The government website also has a lot of useful information with regards to registering your business.

3. The admin and financial aspects involved

The survey found that 22% of UK mums who own a business said that one of the main challenges they faced when starting out was finding a bank who’d support them financially. Many found that the flexibility of the financial service provider was not enough and as a result 38% commented that they had found the process of setting up a business bank account long and slow. Not ideal for a busy mum with a business to run!

This week I found out about APS financial who are able to offer small businesses the opportunity to get their current accounts set up within less than 10 minutes of starting the application! Brilliant news for mumpreneurs across the UK who will be able to get trading faster. So far they have helped almost 80,000 start-up businesses of which nearly a quarter were female entrepreneurs. APS financial also provide businesses access to finance through a range of credit products and overdrafts, lending up to £2,000, which can help fund the cost of starting up a business.

APS finance said;

“We should be empowering all small businesses, but especially mothers working to set up a business to thrive in our economy by offering fast, easy ways to open up bank accounts and manage cashflow, not throwing up barriers. It is worrying to think that it is fears about admin and financial hassle that stops entrepreneurial mothers going it alone and our experience shows that grassroots entrepreneurs don’t need traditional banks to ‘bank’.”

This is really positive news for mumprenures across the UK, APS financial helping to reduce the financial worries of setting up a business will allow small businesses to put their energy into getting started!

Are you a mum in the UK looking to set up a first time business? Will this financial reassurance encourage you to take the first step?

Business benefits of coffee





Whether you line up at Starbucks or you spend your mornings whacking the coffee machine in your kitchen because you refuse to buy a new one, coffee is part of many people’s lives. For some, it’s viewed as a crutch, and for others it’s a legal addiction. Either way, it’s not a bad thing, not at all.

Coffee offers a huge number of health benefits, along with a boost in your productivity. Join me as we look at all the ways it can help you and your business before diving into an infographic that further showcases the benefits of this wonderful brew.

The Hidden Power of Coffee (Infographic)

Once you’ve settled into a career, it’s time to start taking steps toward success. While it may seem like something small, coffee is a great start on that path. We all know it’s ability to wake us up, but it goes far beyond that.

Everyone drinks coffee, or at least, 64% of U.S adults over the age of 18 drink it. Here are some of the big reasons why drinking this brew cold, or hot, is a great idea:

  • You’ll live longer according to studies.
  • It helps prevent Alzheimer’s disease
  • It boots your attention span and your concentration
  • It lowers the risk of several types of cancer.
  • Coffee before an exercise helps you recover better

No matter how you slice it, a cup of joe is a good thing. Check out the infographic from On Blast Blog below for a deeper look into the magic of this delicious drink.

Coffee-infographic

Last year, 500,000 business were set up in the UK. Needless to say, there’s a market for offering products and services to new businesses.

If you’re confident in your accounting and finance knowledge there may be an opportunity for you to capitalise on this market in the form of book keeping.

The following infographic from the IAB, shows off some of the perks of being a book keeper. The flexible working hours are certainly attractive!

Benefits of bookkeeping

 

 

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