Why Small to Medium Sized Businesses Should Consider Adopting Bitcoin

bitcoin

Bitcoin has been one of the most polarizing forms of currency in the 21st century. Instead of being backed by gold or produced by a major government, it is mined digitally by computers. There is a limited amount of bitcoin available and it gets harder to acquire as more and more of it gets mined.

Why Should a Small or Medium Sized Business Accept Bitcoin?

Bitcoin is seen as a currency by the people and of the people. It can be acquired by people sitting in their basement who may be unemployed or have no other way to pay for their goods. By allowing customers to pay with the currency, they can help people buy the things that they need even if they don’t have a lot of traditional money. It may also help a business be seen as a company that is in tune with the needs of its customers and with technological progress.

Companies Should Always Offer Multiple Ways to Pay

A company should always offer its customers multiple ways to pay for a transaction. Whether your company allows a customer to pay by credit card, debit card or Bitcoin, a business that offers multiple payment options offers a layer of customer service that may not be matched by other companies. When a customer knows that he or she can pay however he or she wants, it makes it easier for that person to feel good about doing business with a particular company.

Bitcoin Represents the Future of a Stable Economy

Overstock is always looking ahead to the future. You can see their President, Stormy Simon in the news planning their new futuristic building. Their CEO, Patrick Byrne believes that there will be a time when zombies walk the Earth. He is referencing the next big recession that will inevitably occur. He thinks that governments are creating too much money and that the magic money tree is going to run out one day. When that day occurs, Bitcoin is going to be the currency that people can rely on to make payments on outstanding debt balances and buy the things that they need on a daily basis. As opposed to a government that can print money whenever it feels like, Bitcoin is like the new gold standard because there is a limited supply of it in circulation.

It’s a Great Way to Attract New Clients and Grow Profits

A small business that is looking to stand out from the competition can do so by accepting Bitcoin and being seen as a rebel or an innovative business that is looking to think outside of the box. Accepting Bitcoin can also jumpstart a small business because the currency can be traded on the digital marketplace. As Bitcoin continues to skyrocket in value, the currency that a company has in reserve can be converted to dollars or other traditional currencies for a profit.

Bitcoin is the future of currency according to many financial experts. While it may not be universally accepted right now, it will become increasingly useful in the future. Companies that accept the currency as payment now could set themselves up for a bright future regardless of what the economy does. Therefore, any small business that is looking to do something different can accept Bitcoin and gain brand awareness quickly and easily.

6 Things Companies Need To Know About Private Insurance Exchanges

insurance

The health insurance exchanges are one of the most misunderstood provisions. They could be really confusing. A lot of people misunderstand the provisions in the health insurance exchanges.

Health Insurance Exchange

A health insurance exchange is a marketplace. Consumers can shop for health insurance by comparing prices, benefits, and plan provisions in this marketplace.

Eligibility To Use Health Insurance Exchanges

Everyone is not eligible to use health insurance exchanges. Exchange consumers will be limited to companies with fewer than 100 employees and individuals who do not have coverage available to them through employment or otherwise under health care reform.

Public Option For Health Insurance Exchanges

The public option is not included for health insurance exchanges under health care reform. The original bill drafted by the House Of Representatives did include a public option. This was also referred to as a Federal public-benefit corporation. It was designed to compete with private companies on the exchanges. However, the version of the bill that was eventually signed into law excluded the public option. This ensured the exchange will be composed of private insurance companies.

Governing Health Insurance Exchanges

Exchanges will not be administered by the federal government. The bill was passed naming states as the responsible party. They are responsible for administering their own exchanges. It will be determined by each state how the exchange will be offered to the public. This will be done by mail, online, or telephone. Some states have already received Federal funding to develop an online system.

Advantage Of A Health Insurance Exchange (Buying Power)

The insurance carrier’s risk is spread out over a group of people under a group health plan. Carriers absorb an individual’s entire risk. This is done under an individual health plan. This causes individual premiums to remain high. Exchanges essentially become cooperatives. Small businesses and individuals with under 100 employees are allowed to form a group. This group obtains access to health plan variety and competitive pricing.

Disadvantage of A Health Insurance Exchange (Cherry Picking)

Private health insurance companies offer their group plans outside and inside the exchange. There is a risk that their carrier will seek to sign up all small businesses with healthy employees. These employees are signed up under their non-exchange platform. They offload the companies with older and sicker employees onto the exchange. The exchange experiences adverse selection or high risk participants in greater numbers. This leads to higher insurance premiums.

ObamaCare Health Plans

ObamaCare helps most small businesses. Small businesses owners have historically a much harder time supplying themselves and their employees with insurance. This is because of rising health insurance costs. The bigger businesses have remained largely unaffected because of the leverage buying large group health plans gives them. Small business owners and workers tend to benefit under the new law. Larger employers who do not supply health insurance have to figure out how to deal with new costs.

ObamaCare provides small businesses with affordable insurance options, increased buying power through SHOP exchange, and cost assistance. Small businesses will not be hurt by ObamaCare since they have under 50 full-time equivalent employees. These employees can use the SHOP to get a better deal on employee insurance for themselves. It is crucial to do outside research when choosing an insurance company to work with. Forums and reviews sites can help give small businesses and people the right tools to succeed, an example of this can be seen by examining this USHealth Group Review.

Do You Really Even Need a Degree to Start Your Own Business?

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Since at least the end of World War II, conventional wisdom has held that a college degree is the ticket to getting ahead. Over the years, the post-secondary education industry has exploded in size and scope. Unfortunately, a college degree has lost some of its luster as the value proposition has become less attractive. The question many youngsters are asking themselves is whether a college degree is necessary to start a business. Here are five compelling reasons why it’s not.

Degrees Aren’t About Knowledge

One of the biggest misconceptions regarding college is that it’s about learning new things. What college really demonstrates to potential employers is that you’ve got the drive and commitment to see a project through to the end. It proves that you can at least meet deadlines and work with others to accomplish a goal. You don’t need to attend college and rack up thousands in debt to learn how to stick to a schedule.

Businesses Require Risk-Taking

If you plan on being an employee for the rest of your life, college is probably a good idea. After all, you’ll need to get that piece of paper to get your foot in the door at your first real job. However, academia doesn’t really teach or encourage a risk-taking attitude, which is a critical attribute of any successful entrepreneur. Getting a college degree won’t show you how to be proactive or make hard decisions.

Making B2B Contacts Is Vital

One of the most important skills to acquire if you plan on starting your own business is the ability to effectively network. Specifically, successful entrepreneurs need to make connections with other business owners. While college can be a great way to make professional contacts, you’re missing out on four years of making contacts with actual business owners. By starting a business right out of high school, you’re getting a head-start on professional networking.

The Web Is a Free College

If you need to acquire a particular skill or flesh out your knowledge of a specific topic, you don’t have to sign up for a college course. Rather than taking out a loan to get a degree, you can use topnotch online resources like Khan Academy or MIT OpenCourseWare to educate yourself for free. With the sum total of human knowledge available on the web, traditional undergraduate studies are rapidly becoming obsolete.

Entrepreneurship Doesn’t Have a Manual

The most powerful reason to skip college if want to start a business is that it promotes a mindset that’s toxic to entrepreneurship. Simply put, graduates are inculcated with the idea that there’s a “right” or a “wrong” way to do things. In other words, they’re used to following a prescribed track. For most business owners, there is no road map for success. You need to roll with the punches and improvise as you go.

The Toughest Nut to Crack

A college degree has never been a prerequisite of entrepreneurial success. Many of the biggest companies in recent history were launched by college dropouts. The hardest thing about starting a successful business is letting go of your fear of failure. Mitigating the risks of failure when starting a business is clutch. The key is to make sure that you’re able to get back up when inevitable failures occur on the path to success.

Is the BYOD Movement Unfair To Lower Income Employees?

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Bring your own device (BYOD) is a workplace policy that encourages employees to access work systems and information on their own personal devices. Typically this includes laptops, tablets, mobile phones or desktop computers. The movement began as an opportunity for workers to use their own devices which they were familiar with and allow greater access to company information to increase convenience and productivity. Slowly, however, there is a growing concern that these policies may become standard and employers could begin forcing their employees to comply with BYOD and use their own devices for work everyday. This is a dangerous policy, and one that could potentially harm lower income employees.

Expensive

The obvious reason this could be unfair to lower income employees is because it forces them to invest in technology they cannot comfortably afford. Desktop computers are much more cost-effective than laptops but cannot easily be transported to and from work each day. Using personal devices for work will also cause greater wear and tear on an employees personal device, which could lead them to be forced to pay out of pocket for repairs or replacement devices sooner than otherwise planned. It is also likely that employees will be forced to own a device from a short list of pre-approved phones, laptops and tablets. This could force lower income employees who could not afford the latest and greatest to upgrade their equipment immediately to something outside of their price range. It would also cause low income employees who cannot afford multiple devices to be forced into using a device they would not otherwise choose for their personal device since they are pigeon-holed into owning a device supported by their company. Many employees may not be able to afford smart phones, which have become more commonplace, but are still much more expensive than their basic counterparts. Even if an employee is able to afford a smartphone, having to do a great amount of work on them may require them to upgrade their data plan and raise their monthly bill. A $20 or $30 a month increase doesn’t seem like a great deal but for employees on a strict budget it could cause undue stress.

Potential Disadvantages

In a company where BYOD isn’t mandatory but encouraged there are still potential disadvantages for lower income employees. Employees who cannot upgrade to top of the line equipment will be at a disadvantage to their work counterparts and could be forced to work on inferior equipment which could limited their productivity. Without access to devices like tablets and state of the art smart phones they will also be at a significant disadvantage since working remote from home and checking in while on the go will be much more difficult for them. It is quite possible, if not likely, that such employees will find themselves much less productive overall compared to their counterparts who can afford such technologies. There are many benefits to the bring your own device movement and a company that can properly implement and manage it will be able to provide its employees with greater convenience and opportunities for productivity. It is critical, however, to make sure they do not alienate their low income employees during the process, and that could prove a tricky task for even the most savvy company.

Ready For That Interview: 8 Job Saving Tips

jobinterviewGetting ready for a job interview is taxing enough without having to worry about your appearance. Once you make sure you dressed the part and your entire presence radiates success, you can relax and start focusing on providing succinct but impressive answers that will make you stand out.

First Tip: One of the most important parts of dressing for your job interview is finding appropriate clothes that fit you properly. Watch out for too small shirt collars, gaping buttonholes, shrunken suit sleeves or trouser legs, and bizarre colors. In general, your performance should make you memorable, not your clothing.

Second Tip: No matter what position you interview for, you must always have a small pack of paper tissue with you. You never know when you will need to sneeze, cough, or simply wipe your hands. Mishaps happen, be prepared.

Third Tip: You can be certain that somebody at some point during your interview will look at the shoes you are wearing. This should not make you self-conscious, but it should prompt you to arrive in squeaky clean, well-polished footwear. Your shoes must also be comfortable, but they need not to be brand new or of the latest fashion.

Fourth Tip: You might be a sharp dresser or a flamboyant personality by nature, but interviewing for a new position is not the time to express your extravagant dress-sense. Tone down your accessories to the bear minimum, and opt for more conventional pieces that enhance rather than overshadow your presence.

Fifth Tip: Nothing can provoke stronger emotions in newly acquainted people than bad haircuts. Flowing hairstyles, unkempt manes, strange coiffures are all red lights interviewers look for. Do not be let down by your hair. Get a fitting haircut close before your interview and make sure you know how to properly style it.

Sixth Tip: There are many people who are allergic to strong scents and your interviewer might just be one of them. Do not give them the opportunity to dismiss you just because you were heavy handed with your cologne or perfume. Choose light, fresh scents and apply half the amount you usually use.

Seventh Tip: Scents are not the only odors that can be offensive to other people. Many job candidates forget to freshen their breaths before they meet their interviewers. Coffee, tea, smoking and even not talking for a while can cause bead breath, and a whiff of bad odor is not impression you wish to make.

Eight Tip: Regardless of your gender, body shape, and occupation, you must go to your job interview carrying an appropriate bag. This means you need a bag that is comfortable; the right size for your purposes, and does not require you to make special accommodations. Arriving to your interview laden with your shopping would be inappropriate for instance, or carrying a miniature backpack might seem equally strange.

All in all, you do not want to spend more time on preparing what to wear than what to say at your interview, but you also need to put some thought into composing your appearance. You must project a confident, professional, and positive persona in order to draw your interviewer in from the moment you meet. Dressing the part will help you act the part and that is what you need to do to get the job.