Everything You Wanted to Know about Peer to Peer Currency Exchange

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For many people currency exchange is like dark matter. They do not understand how it works and some don’t even to know where to go to exchange currency. They simply do not have frequent need for it. Majority of the people end up exchanging their currency at the airport when they land in the foreign country. While this is very convenient they end up paying high commission fee for it. Recently a new trend has emerged that bypasses these middlemen. It is called peer to peer exchange and it is not only convenient, but also saves you significant money in fees. So what is peer to peer currency exchange and how does it work?

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5 Ways to Diversify Your Business for Greater Profit

make your choice

make your choice


In today’s fast-paced business world, diversification is key if you want to remain ahead of the competition and increase your net income. Simply remaining within a single product or service can have a negative impact on the ability for your business to survive. Many large organizations are also seeing this potential threat and merging with other businesses or expanding their own in order to meet the demands of society. So how can you diversify your business without stretching yourself too thin. There are number of avenues to do that. Here are top 5 ways in which you can accomplish diversification:

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Maximize Revenue with Cross Selling and Upselling

cross-selling
It is estimated that it costs 6-7 more to acquire new customer than to keep the existing customer. Yet many small business owners spend much of their time, money and energy in chasing new customers. A better strategy is to make existing customers buy more from you. Think about it. Your current customers already love your products and services. The fact that they are sticking with you means that they are willing to buy more if you can offer it with the right value proposition. This is how Amazon has built a an online empire to sell everything and anything a customer would want. Cross selling and upselling are classic techniques business owners can employ to maximize their revenue from existing customers. Here is an Infographic that shows how you can develop a roadmap to succeed in cross selling and upselling.

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Why Wholesaling is a Popular Retail Model for Business

Retail Store
Now that the world economy is on the mend and we’re finally back to growth levels of 2008, many people are looking to capitalise on the wealth that’s out there in people’s pockets. If your dream is to run your own retail store there’s only one form of retail that you should consider: wholesaling.

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Do You Know Who Your Competitors Are?

Do you know who your competitors are
It’s a very simple question. Let’s say you own and operate a restaurant that serves pizza and pasta at a busy corner of high traffic downtown area. Who do you think you are competing with? Is it another restaurant that also serves Italian food within ½ a mile of your restaurant? How about the McDonald’s across the street? Now, take it one step further. How about the store that sells ready-to-eat meals that people can take home when they don’t have time to cook? A relatively simple sounding question can open up multiple possibilities when you think hard. Taking a simplistic view of the competition can hurt your business in the short-term and put you out of business in the long-term.

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How to Run a Thriving Kiosk Business

How to Run a Thriving Kiosk Business
For aspiring entrepreneurs, the prevalence of large corporations and big-box chains can make starting a business seem like a daunting task. To combat these challenges, many businesspeople are finding great success by starting kiosk businesses instead. With low overhead costs and short-term lease commitments, starting a kiosk business is a great way to jump-start your career. As with all business pursuits, it’s important to know how to run your kiosk business in a way that will make it profitable. With these following five steps, you can create a thriving and profitable kiosk business.

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3 Reasons to Start Your Home Based Travel Agency

3 reasons to start home based travel agency
If you love traveling and have great organisational and personal skills, then working as a travel agent could be the perfect job for you. Even better, some of the most successful travel agents work independently from home. Working from home is a great way to operate in any industry, but the travel agency business is especially adept for people who love to work from the comfort of their own home. In case you need any more persuading, here are the three main reasons why you should start a home based travel agency.

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How Small Businesses Benefit from Strategic Alliances

how small businesses benefit from strategic alliances
In a competitive, complex business world, there are few companies that have the capability to do everything alone. The skills and technology necessary for success in business today, many times, mandate that companies work with other companies that possess complementary skills for the mutual benefit of each. Regardless of the alliance partner or how the alliance is structured, strategic alliances can bring significant benefits to each partner, especially small businesses.

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A Better Way to Start Small Business – Consulting

A better way to start business - consulting
Ask anyone who works for a small business and he will tell you he wants to run his own business some day. Many of them have a great idea – or think they have one – and only if they ventured on their own they could become a successful business person. Some of them also think they can do better job of running the business they work for than their current owner.

While the thought of starting and owning your own business is certainly admirable anyone who has tried to do it will tell you that it is not as easy as it sounds. As Chief Everything Officer you will be working on many different fronts at the same time and under tremendous pressure. There is no guarantee that you will eventually succeed after spending so much time, money and effort. So, is there any hope for someone who has the passion to start his own business, but is not sure how to go about it? I think so. Let me explain how.

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Too Much, Too Fast – Lessons from JC Penney Failure for Small Business

Too much too fast - lessons from JC Penney failure - 2
By now, most in the business community have heard about the ouster of Ron Johnson as CEO of JC Penney after only 17 months on the job. This was a stunning reversal of fortune for Ron Johnson who was regarded as retail Guru based on his accomplishments in transforming Target to “Cheap Chick” retailer and hugely successful launch of Apple Stores. When he was hired at JC Penney he was viewed as a savior who would rescue JC Penney from the downfall it was experiencing for several years.

However, things have not turned out to be that way. In 17 months JC Penney has been in complete turmoil. Sales in 2012 declined 25% compared to prior year representing a staggering $4.3 Billion in lost sales. In 2012 it recorded loss of $1 Billion. No other company has seen such a precipitous loss of value in this short time. So, what went wrong and what lessons can small business owner learn from this?
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