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Want to teach your kids about money? here is what to do.
Money is an important part of our daily lives, it is imperative therefore that you start early to teach your kids about money.
Kids have a penchant for asking you to buy things that are not necessary, anyone here who loves to do that? raise your hand if you do, because I don’t.
Making money and money management is something we ought to start teaching our kids early in life, especially if you are a business owner.
Great businesses are only sustained when there is someone to pass it on to. Your small home business may turn out to be something that your child will take on and expand to a big-time business later on
So it pays to begin to prepare them early enough.
While I will not subscribe to forcing a child to follow a particular career path,
So that they can begin to form attitudes on how income is made, spent and multiplied.
One of the most confusing questions about this topic is usually when to start?
Here is my simple answer: start as soon as they can communicate with you.
I started teaching my son about money when he turned 4.
I started by telling him that every money that is spent is earned, therefore if he wants something he has to think of what to do in other to earn the money that he needs.
It was within this concept that he came to understand how money is earned.
Yours may take longer depending on the circumstances,
The most important thing is that you are taking the initiative to start helping them understand how money is made
Thereby helping them to imbibe money habits early in life.
In this post, I outline 5 simple ways you can teach your kids about money
To Teach Your Kids About Money, Here Are 5 Simple Things To Do
1 Involve them in money related activities in the Home.
Whenever we want to buy Gas for the car, I always ask my son to get the receipt from the pump owner and in that process, we discuss how much money has been spent on Gas. Simple activities like this teach kids how money is spent in the home.
2 Create opportunities that show how money is Earned
Sometimes I may be working on my computer and my kids want to play.
I make them understand that mom has to work in other to earn the money we use in the house.
That way they are able to respect the time I put into making a living for us.
Of course, there will be times they will say they want to work too, that is what led me to the next point.
3 Create chore charts and award Tokens.
This past summer, I created a chore chart with tokens attached,
Each chore had tokens attached to it and my kids were responsible for writing down the tokens which they earned for the chores they did.
Exchange the tokens for cash for later use.
This activity makes them feel like they are earning their own money,
Call it mini jobs and you will not be far from it.
4 Teach them the principles of creating Wealth.
Making money is simple, you do stuff and you get paid, then you spend it, but what about creating sustainable wealth?
I thought hard before I started out on this one. I used a story of chicken and eggs to teach them how to multiply their money.
It’s a simple story of how you buy a chicken with some amount of money,
Feed it for some time until it lays eggs, the eggs hatch and you have more chickens to sell.
Stories like this give kids an idea of how to multiply their money to yield more.
I believe that we will move on to practice this concept with time.
5 Use the Proverbial Piggy Bank :
Get them a piggy bank and let each kid be responsible for saving some amount of money each day.
Whether it is earned via the chore charts or received as a gift.
At the end of some time perhaps a year or so, you can open the piggy bank and count out how much the child has saved.
Then open a savings account from it.
This will help your child understand how money works and also appreciate the principle of saving for later.
6 Use Board games to teach your kids about money Investment.
Board games even though they are simulation often helps one to appreciate how money is made and invested.
Taking advantage of games such as Richdad’s Cashflow for Kids will help you teach your child how to invest their money.
Other games that help teach kids about money includes: Act your wage, Thrive time for teens, Buy It right, Exact change, Allowance game, The stock exchange game, Payday, and Moneybags.
To teach your Kids about money, there are different ways you can use, whatever method you use, ensure the message is passed across.
Do you want to get my top 7 list of online resources for teaching kids about money? click here
E-commerce Personlization: How to use it to convert your shop visitors
Today I introduce a topic which every home business and online business person should know about.
It’s an interesting topic about e-commerce personalization.
This piece is a guest post from my friend Ana Bera, a Marketing specialist from subsciptionly.
She brings a fresh perspective on how best to position your online store in other to covert your store visitors to buyers.
E-commerce Personalization: What Is It And How It’s Important
You might have heard about e-commerce personalization but might not be sure about what it is exactly and how it impacts your business.
In simplest terms, e-commerce personalization means offering relevant products, offers, and recommendations to consumers.
That is, you put those things in front of them which they are likely to be interested in.
Here’s an example to help you understand this better.
Let’s say you own an online fashion store with over 1,000 products and 50 product categories.
Your homepage is designed so that it can display 10 products and 5 product categories at a time.
Now, let’s suppose a first-time consume types the URL of your online store. You can either choose to take her to:
-the default homepage which has randomly picked products and product categories;
-a personalized homepage with those products and product categories that are likely to be most relevant for this customer.
The latter is an instance of e-commerce personalization.
At this point, you may be wondering, “But why exactly do I need to show relevant products to customers, particularly when the search function of my site works just fine and web pages load at the speed of light? A consumer can find what she wants in a jiffy.”
This line of thinking is self-defeating on two counts.
If you have done a thorough job in following the steps outlined above
Then you will not find it difficult to get the customers you need in other to get your business rolling.
This is because as at now you should have determined who your customers are.
What niche you want to play in and assessed yourself to see if you have the requisite skills required.
We move on to the main gist of the matter, that is marketing your new online business.
Now that you have set up your website, the next thing is to market it to the right audience.
Before you get into marketing you have to determine what your target audience persona is
Set up your audience Persona
What is a Persona
A persona is like a fictitious person who has the characteristics you will desire in a customer.
For example, if you chose to cater to people who do special vacations like Honeymoons,
You will be looking to about to weds who may be considering going for a vacation for their honeymoon.
Some characteristics to look out for will be: their age group, market size, earning potential and also willingness to buy.
Finally, when are you likely to have a spike in the demand for such services.
Set up your social media channels
Create a brand from the onset: To learn how to build a brand for a small business go here
Blog about your service offerings
Start an email list: where you offer your readers lead magnets so that they cam optin to your email list
Partner with parallel workers in your industry: For instance, if you do honeymoon vacations partner with wedding planners and ask them to recommend you to their customers for a commission.
Launch your business: let your family and friends know that you are into this business, ask them to recommend you to their friends for a fee, this may mean setting up affiliate commissions for your customers who refer you.
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5 future skills you will need to build a home business.
As the future keeps galloping towards us with a lot of innovation via technology, one question you should ask your self is; do you possess the future skills you will need to start a home business or run one?
Remember when you taught that it was impossible to see your home from anywhere?
Think of the 80’s you could not have imagined that you will log into your phone and have an immediate view of your home, such that you can find out when an intruder is trying to get into your home.
Well, one Business Ring.com has made it possible.
This is just one of the many possibilities we are seeing as we maneuver an age where technology is taking over our lives; from artificial intelligence(AI) to robotics to internet of things(IoT), you just name it and you have it here, gone are those times when the only place where such possibilities were seen was in sci-fi movies.
The future is actually here and I want to ask you a mind-boggling question are you ready?
Are you among those who are still clinging to the past with your nails scratching and itching for the times when things were much simpler or are you constantly asking yourself how can I unlearn old ways, learn new skills and get myself ready for the future.
I know this does not look like my usual write up but hold on, I am getting to my usual sweet spot which is to say what future skills are you acquiring now that will change the way you run your home business or start a new business?
In this write-up, I share with you
5 future skills that you need to have in other to build a home business.
1 Digital Marketing:
According to Wikipedia, digital marketing is the marketing of products and services using digital technologies mainly on the internet and also on mobile phones, display advertising and via SMS.
A great majority of people’s attention has been captured by digital devices, most people now get almost all of their entertainment, business and work life done from their mobile phones, therefore, it’s of necessity that anyone who wants to reach his target market must be willing to do so through digital means.
If you are a home business owner or perhaps you are planning to start one, this is one critical skill you will need in other to succeed in business. This is because no matter how great your product or service is, if your customers can not find it you are not in business.
While the traditional modes of advertising your business may still work, they are becoming less dependable. What is the probability that someone who bought a service or product from you will refer you to another person? quite low, except of course you are offering an incentive.
Even at that, they may not be attracted enough to your incentive to want to reach out and refer you to others.
If you, therefore, want to succeed in your home business, you need to start acquiring this very important skill not only because you need it for your own products but you can also offer it as a service and charge for it.
Digital marketing skills are in hot demand now as people are constantly looking for means of selling their products.
I considered it as one of the future skills because not a good number of people who want to start businesses understand how this skill translates to your success or failure in running a home business.
Some digital marketing methods include SEO( search engine optimization) Serch engine marketing( SEM), Email marketing, Content marketing, influencer marketing, data-driven marketing strategies, social media marketing, social media optimization, sales funnel and lead generation.
If you have been struggling to make sales with your home business or your greatest headache has been how to attract your ideal customers to your blog or online business, then this may be a critical skill which is missing in your portfolio.
You can start today to learn this skills for free by reading this article and signing up for a free course to help your journey.
When you think of AI, it kind of goes over your head, I mean what has a small business got to do with AI, leave that for Elon Musk and SpaceX geniuses you are not about to go explore space.
But then, I draw open the curtain to ask you to wake up and smell the roses, most of the Jobs that are being held by humans today will be replaced by artificially intelligent robots.
If you are in one of those dead-end jobs which will be wiped out in the next 5-10 years, then its time you begin to critically look at the value chain in businesses you see that are still offline today and begin to imagine how you will develop algorithms or write codes that will help you fill that need and build a business from your home for it.
I just mentioned coding in the line before and many people reading this might begin to get angry right now asking themselves how they will learn to code in this day and age, well you can if you are interested.
Think of the fact that as the world moves towards AI, many businesses will require services of people who understand how these things work and operate it.
You may not be called to build AI systems leave that to the Googles of this world but you can seek to understand how to integrate these systems into everyday life and hence help people.
This is why I think it’s a necessary future skill for anyone who wants to work from home or run a home business.
3-Creative & Critical thinking abilities:
Gone are the days when systems were put in place and everyone was expected to just follow the norm.
This idea came from the industrial age when work was divided into piecemeal and everyone specialized in an aspect and just followed the laid down rules.
Nowadays people are looking for who will bring creative thinking solutions to problems, people who will solve old problems in new ways that save time and cost.
If you are starting a home business or maybe you have one already, your ability to be creative and also think critically will mean you will win in the marketplace.
If you are in the business of selling knowledge as a home business, i.e blogging in simple terms, this is especially for you because people will only read your blog and follow you because you offer solutions which they are cannot find anywhere else.
This skill is an essential future skill both for the creative person who designs and builds the product and also for the knowledge vendor.
I consider Creative and critical thinking as one of the future skills because I have come to realize that a lot of people are seeking fresh ideas.
New twists to old issues and also completely new innovative ideas that beats what is obtainable right now.
For example yesterday I got a call from my Phone operator to inform me of a service which they want me to sign up to.
I mentioned to the caller that I am not so keen on signing up because of issues I have with this network provider.
That customer service agent never attempted to solve my problem or even provide a solution, instead he kept on trying to sell to me his new product.
I just rang off and I thought to myself why do people never empathize with those they seek to serve.
They had rather push more products into your face than find solutions to the issues you are already experiencing with their product.
4-Organization Based skill:
This future skill is simply called project management in ordinary terms.
I termed this a future skill required by a home business owner because as the world gets more tech-savvy, there will be an overload of information.
People will be looking for those who can help them organize their knowledge and sequence it in such a way that it produces results.
There will also be a demand for organization and creation of systems that when followed will always deliver the same results.
We see that in the online business marketing strategies where they are always talking about teaching you this 3 step system that will help you win in the marketplace.
These future skills have created a whole new industry in printables called planners.
People are consistently looking for planners to organize their day and businesses and even their life.
So if you have just a little knowledge of this skill, It to time to ramp it up and create a home business built on this skill.
The classroom has left the brick and mortar building called schools, learning and education are now taking place on the internet. This future skill is not only for the future but for the now, Teachers reward is no longer in heaven, it has come down to earth hahaha.
If you think I am not saying the truth ask Jack Ma the Chinese Tech Billionaire of Alibaba or even Peter Diamandis of the Singularity University.
This means that tutoring other people is now a major income earner for most people, there is an avalanche of online courses now that people can’t get enough of.
Tutoring is no longer just about just pouring out knowledge but about content creation, selling content, nurturing customers and altogether shaping mindsets.
The good thing about this skill is that no single person lacks the knowledge to sell, your only problem is how to organize it into a sellable format.
All the years you have spent on this earth learning a skill, experiencing something or even practicing some stuff can now be put together into a course format and sold.
Whatever route you choose, just ensure that you are delivering value for the course you are building and people will come for it.
In conclusion, I will like to ask: are you ready for the future of your home business, career, and life in general?
if you are not, its time to get learning because your future self will not forgive you if you fail to get ready for what is to come.
To round up this post, I will like to offer you a list of 20 futuristic business ideas that you can start now to work on. Click on the image to get it.
Do you have any other ideas on the future skills you will need to run a home business, please drop a comment below.
10 Incredible Must-Have Tools for a Successful Online Shop( Ecommerce Store)
Are you thinking of opening an online store? my list of must-have tools is an important resource you cannot afford to ignore. Even if you do not read any other post on my blog, please don’t ignore this one.
If you have been following my blog for a while, you will know by now that I have a fixation for online shops, I mean who does not want to be sleeping and be making money. Unlike the brick and mortar store which you have to physically open and close for it to function, online shops can make sales while you are busy doing something else.
Here Are 10 Must-Have Tools You Will Need to Make a Success of Your Online Shop
Email Provider services:
Email provider service is the number one on my list of must-have tools if you are serious about growing your customer and revenue base. They are companies that help you to not only collect email addresses from your buyers and customers but also to send email campaigns to them.
This tool is the most important tool you will ever need because it gives you direct access to your customers. Some of the more sophisticated ones like Mailchimp has all sorts of capabilities like Landing page creator, Lists, Templates, email automation and also reports. They have a variety of templates for different types of campaign ranging from basic email templates to templates for sending out campaigns about your new products. The wonderful thing about MailChimp is that a good number of these features come with the free package. Of Course, there is a paid aspect but even the freebie is enough for you to run your online store with. To sign up with MailChimp, click here.
There are other paid email provider services like Convertkit, Sendlane, Mailjet and Vertical response. Most of these email services that I mentioned are paid platforms except for Vertical response and Mailjet which has a free part and a paid part if you want more sophisticated features. I love Mailchimp though because it can be integrated across all platforms especially with WiX platform.
I was using SENDLANE before and sincerely loved their features, but they got too expensive for my small blog and I had to stop using them.
Google Analytics :
Google analytics is one of the must-have tools which you cannot afford to ignore because it pulls all the data from your store and gives you a rundown of what is happening in your store. This includes the number of visits, the number of orders from your store, transaction value and even the number of unique visitors to your online store. Your google analytics is your friend if you want to track your online store data and know how to manipulate your data for future use.
Google webmaster is not the same as Google analytics, I use to think they were. This tool enables you to add your store or blog to the Google webmaster so that it can crawl your website. In crawling it, its able to collect some information which you can use to determine how to make your shop rank high on google. One of the good things about this tool is that you can pull information such as the keywords which people are using to find your page on the internet, you can also see which of your products are ranking best on Google hence, optimize, using such keywords to attract more customers. To learn more about how to use Google webmaster, read this beginner’s guide by Neil Patel.
Pop up Creators
Have you ever been to an online shop and while browsing you saw a pop up that required some form of action from you, perhaps to prompt you to sign up for their newsletter or perhaps even offer you a gift to sign up, these are pop up forms that are used for collecting information or even informing visitors to the shop of a promotion going on in your store. A good recommendation for these type of pop-ups is Privy. Privy gives you the opportunity to integrate a pop-up flyer or form on your shop. You can use these pop-ups for different things like announcing a sale, collecting information and even automating your email series once someone signs up
Live chat provider:
Live Chat provider is an equivalent of store attendant in your shop, if you use an online shop provider like Wix, you will be able to enable this feature for free. With this feature, you can answer questions from anyone who is visiting your store for the first time and needs clarity. Some people don’t like to write emails, so this is the closest you will get to talking to a customer one on one. If your Live chat is on, you can see its notice on your phone that someone is currently in your store, you can even start the chat by asking how you may help the person just like you would have in person. Your ability to answer your customer’s questions immediately means that they are able to make better decisions as concerns your product.
Smartlook: Your greatest asset on my list of must-have tools
Have you ever wished you knew your customers’ navigation journey in your online store, you wish you had an online CCTV on that will help you know what your customers are searching for and what actions they took, before leaving your shop. The best tool to use is Smartlook. Smartlook records your online store and is able to show you the different actions your visitors took before they left your store.
They record how long they stayed in your shop, from where you are able to see, what your customers struggled with before they left or bounced. This is a good tool that provides you with feedback in a way that no other tool will. Smartlook has both a paid feature and a free feature. If you are not able to afford the paid feature, you can use the free one, Its cool, the only problem with using the free feature is that you are not able to make use of the extended capabilities like heatmaps and events. You are also restricted to 10 visitors per day which means you do not have an overall outlook on what your customers are doing. To sign up for Smartlook, click here
Trello a Must have tool:
Trello is a tool you can use to project manage not only your online shop but also your entire life. You can create different boards and use the features available to plan out your projects from Product research to the last post on your Blog. It’s a useful tool if you have to work in teams. Even if it’s only you that runs the store, you will find it very useful.
Oh canva, what would I do without you?. Some Bloggers lives will be over without canva Lol, just kidding, but canva is a resourceful tool for creating Pins that you use to add pictures to your blog posts about your products, combine Canva with Pixabay( a free online picture repository) and you have a winner. That is why I added it to my list of must-have tools in this post.
I love Canva because you can use it to produce a variety of things like Printables, worksheets, templates, Logos, Headers. They also provide you with thousands of Templates to choose from, Canva is not the ultimate when it comes to providing you with a platform for making beautiful Pins but it suffices for a starter like me.
You need this tool because not everyone uses the Dollar currency, now Imagine your products are listed in Dollars and someone who uses Pounds or Lira or other not so popular denomination of currency comes to your store to buy goods, they will be doing a mental calculation of how much your goods costs in their own currency. So why not make it easier for them by providing a currency converter in your online shop, that way they can make decisions easily instead of having to leave your store to go check somewhere else. The most important resource you have in an online shop situation is time to get your customer to check out, if they are not able to do it quickly they will lose interest and not return.
G Suite is your Google docs and the companions which you need for working on your documents. It will also help you to keep them where you can easily access them( the Cloud) since its connected to Google drive. G suite simply makes creating content easy for any blogger or online shop owner. It’s a very resourceful tool on my must-have tools list.
This is an online tool that is free and enables you to do your Keyword research as quickly as possible. Just add their chrome extension to your webpage and every word you browse on Google it throws up for you the Keywords that are associated with it, including the competitive index and the pricing each keyword generates. It makes Keyword research easy because you do not have to log into the Google keyword planner. It might not be extensive like semrush and co but it helps you to choose keywords that you will use in optimizing your online shop.
The only thing about this list that I forgot to tell you, is that you can only implement it in a standalone shops like Wix and Shopify, preferably WiX because their systems make it easy by providing you with a direct integration for all these features or simple ability to integrate it yourself by adding a code to your online shop. If you want to see a shop I built with the Wix platform click on the picture below
With the above listed must have tools, you are well on your way to running a successful online store, now over to you what tools did I miss?