Magazines for business: Forbes

After opening a small but undoubtedly important business, a young entrepreneur cherishes one humble dream – to see his face on the cover of Forbes, and his name in the rankings of the most successful, wealthiest and the most powerful people of this world. How did this business magazine gain such success?

Forbes facts

The monthly magazine Forbes, which  provides an overview of finance and economics, is published by the American company Forbes Incorporated. This company also owns Wall Paper, Newsweek and other prined media. The chief editor of the magazine is Steve Forbes, who was the president of the company until the end of 2010. The magazine’s motto is “The capitalist tool”.
Forbes publishes news, interesting journalistic investigations, business sectors reviews, histories of the best enterprises, ratings of the most successful businessmen, sportsmen, performers (for a certain period). Now more than 5 million people read this journal. Forbes is the second largest business journal in the USA (according to the number of readers), the first is Business Week.

Forbes headquarters now located in Jersey City.
Forbes headquarters now located in Jersey City.

Foundation and early history

The magazine Forbes was founded in 1917 by Bertie Charles Forbes, who comes from Scotland. The name of the first edition was “Doers and Doings”. Several years later, Forbes has become one of the most popular finance journals in the US.
In 1947 the founder of magazine, Bertie Forbes, died, and his son became the vice-president of Forbes Incorporated. He tried to increase his father’s capital, but put his own political ambitions above the publishing business.
In the 1960s Forbes has become one of the most influential periodicals. Jim Michaels was the chief editor at that time. Experts say that the editorial policy of Forbes influenced greatly on the modern business journalism in that period. Other media often published flattering articles about different business structures, but Forbes conducted unbiased investigations.
In 1981, Ronald Reagan became the US president. During his reign the country experienced a rapid economic rise. In those days Forbes played an important role in social and political life, promoting its concept of national patriotic capitalism.

Forbes in the 1990s

In 1990s Malcolm Forbes died and his son, Steve Forbes, took the post of the CEO. He inherited a fortune of $ 1.4 billion and 35% of Forbes Incorporated total capital. He also received 51% of the voting shares. Stephen Forbes took over the family business. But, like his father, he tried to satisfy their own political ambitions. In 2000, while participating in the presidential campaign, he sold Forbes shares and reduced his stake to 50%.
During Steve Forbes’s editorship, the magazine started to highlight a wider spectrum of topics; issues in the Japanese and Portuguese languages appeared, covering a large audience in Asia and Latin America. In the 1990s Forbes used to publish highly informative analysis of the new online businesses, thus standing out over other business magazines. In addition, the periodical promoted the idea of income tax unification. Now this idea is applied in most countries.

Forbes now

No one knows the exact data on the turnover of Forbes Inc. and Steve Forbes’s income. Several years ago his capital was estimated at $ 400 million (excluding $ 1.4 billion, which he inherited from his father). Every year, Forbes pays himself about $ 1.2 million. Of course, it is not all his income.
Over recent years Forbes has become even more popular, influential and quoted. According to the amount of advertising, the magazine is considered to be a world leader in the media industry.

How to follow and use international trade news

Trading at the international markets directly depends on economic and political conditions in a particular country in the world. That is why one needs to monitor the news in order to make the right decisions at the currency or stock market.

Find your best source

There are dozens of different services publishing  financial news especially for traders. Simply subscribe to the appropriate newsletter or install an application in your phone and read fresh articles related to finance.

When dealing with the foreign exchange market, it is impossible to overestimate the importance of financial news. No wonder there is a concept of trading news at the currency market. Immediate reaction to a particular event in the economics of the USA or foreign countries can bring you substantial profit. It is important to learn how to quickly process information and make bold decisions. And of course, the first thing one should do is to find the best news service that will keep you informed of the latest trends.

This probably will be the most difficult task, as today there are dozens of similar programs, each of them has its advantages and disadvantages. As practice shows, it is all about the habit. Someone finds conventional news sites more convenient to use, others prefer to install news service programmes in their laptops and receive the latest news in pop-up windows. Some still read printed business articles and manage to make a lot of money out of it. This proves once again that it is not enough simply to get the information, you should use it wisely. This is the task of an entirely different level. In order to adjust your position at the foreign exchange market in accordance with the latest developments in the world of finance, it is necessary to learn how to use analytical tools, including a rather complex tool such as fundamental analysis.

Fortunately, today, in our digital age, being aware of the latest changes is not so difficult.
Fortunately, today, in our digital age, being aware of the latest changes is not so difficult.

Analyze and forecast

Forecasting supposes looking into the essence of the events and deduce the impact that they will cause. Any error is fraught with serious losses. Any correct prediction may turn you into the currency market legend from an unknown trader.

Naturally, not each trader possesses such forecasting skill. This is why most of them use third party analytics instead of speculating on their own. In order to make accurate predictions, you must have analytical thinking, know theoretical basis of economics, politics and international relations, be capable of finding connections between events, especially those seemingly unrelated to each other, etc. Apart from everything else, you must constantly monitor the latest developments in the world, and, what is more, devote the most of your working time to this analysis.

In short, in order to make correct predictions you should be completely wrapped into in the world of finance and have a lot of patience.

It will be even better, if you eventually fall in love with your new hobby, because without love to analytics and forecasting you will soon get tired of digging in your news feed. Do not surrender to despair if this already happened; you can always use services of analysts working in brokerages.

Reasons to follow the financial market news
Any trader can and should use information for profit. Let's find out why asking “how is the stock market?” is so important.

What is the financial market?

Any person who wishes to increase their capital will inevitably face the concept of the financial market. Securities are the most popular way of money investing, since they provide multiple profits and appear as a highly tradable product which can be quickly bought and sold, which is impossible with fixed assets, for example.
The key word here is the market. Once it is the market, there must be are sellers that offer a product and customers who buy this product. At the stock market, this product is securities. The stock market is another name for the securities market.
Securities are shares, bonds, warrants, notes, options, futures, shares (stocks).
The stock market is a mechanism for transfer of funds from one economic sector to another. It may be represented by the following example: there is a company that produces a specific product, and it has no money for continued manufacture. To get the money the company put its securities to the market. Another company, with possesses the necessary amount of money, buys these securities. This results distribution of capital between the enterprises and industries.

No matter what information comes out, bad or good, it creates more volatility at the market.
No matter what information comes out, bad or good, it creates more volatility at the market.

Why traders follow financial news?

Economic and financial news have a direct impact on the stock market, so traders should monitor them constantly. As they say, who owns the information, he owns the world. Different information affect the market in different ways. The share price may go up sharply because of good quarterly income reports, and may significantly drop because of the hurricane that destroyed the company’s production assets. That is why you should follow stock market news, if you do not want to wake up one “fine” morning and see that your profitable position became tragically losing after some important information appeared at the market.
Financial news are important because they:
1. Inform the market. In other words, good news boost increased demand for the share, and the bad news increase offer. It is believed that all the significant short-term fluctuations at the market happen purely because of the news.
2. Create volatility. We will not be able to make a profit if the price is stable. The news at the market, different from the expectations of stock gamblers, create stirring and therefore volatility.
3. Limit the risk. Most of the stock news are scheduled so you know when fresh information will come out, what it will be about, and what its impact on the market will be. Thus, one can prepare for it and, if necessary, limit their risks.

Forecasts at the gold stock market

The volatility of gold quotations

It will not be a problem to find a buyer if you want to sell gold, and, vice versa, a buyer will always find as much gold as needed. Every day is a huge number gold purchases are carried out at the market, due to the high volatility of stock exchange quotations for the metal. Within a single trading session, the price for gold can change at hundreds of points, so buying or selling binary options for gold, a trader can make a lot of money. In addition, gold price is more predictable than, currency rates for example. Traders point out that this asset follows the trend (which is, however, accompanied by high volatility) and shows sensitiveness to the news background.

Technical analysis

The main task of the trader is to predict the fluctuations of prices correctly. If you make bargains at random, there is a high probability that you lose the funds on deposit.
There are several methods to forecast the changes in the price for gold, which may be used in parallel, these are: technical analysis and monitoring of macroeconomic indicators. Technical analysis is more or less clear, like any other asset, gold prices are analyzed by using the graph reflecting the fluctuation of quotations, where certain patterns and shapes maybe easily tracked out.
However, the most accurate predictions can be carried out after analyzing macroeconomic indicators, as well as monitoring economy world news.

Monitoring world news makes a successful businessman.
Monitoring world news makes a successful businessman.

Macroeconomic factors

Some factors having influence on the gold quotations:

1. Demand. The more buyers want to buy gold, the higher the price rises. In addition, gold has long been a reserve asset. When the economy is unstable, investors transfer money into gold to save money from depreciation.

2. Gold production. Gold is a non-renewable resource, therefore, the less the amount of gold is offered, the higher the price for gold is. However, we may face a situation when gold is offered more than consumed. For example, one of the countries (large gold consumers) ceases to make purchases (for example, because of a military conflict or economic instability). As a result, gold gets cheaper, as production remains at the same level, and the companies owning the mines must sell this gold anyway.

3. Degree of economic stability in gold-consuming countries.
Now let’s consider some examples of how the news of business section influence the macroeconomic factors and how to make a profit from them.
For example, major media outlets publish reports that the stock market of a large country subsided significantly. Before this moment a stable rising trend in gold could be observed. Accordingly, some part of the stock market will be converted into gold, so the metal will rise in price. We know already that gold is sensitive to the news and tends to follow the trend, so you can buy binary options.
Consider another example. Reports are published that gold mining is on the verge of profitability at the current price, and the companies plan to cut production. If this trend is vertical we can buy options, because the decline in production is accompanied by the rise of quotations, if the trend falls, we should sell, as the decline in production output can be caused by the decline in demand.
Thus, gold trading through binary options may become a lucrative employment, as it allows to earn no matter if the price rises or falls.

What to consider when you start a business?

Obviously starting a business is a serious decision that must be considered carefully. Think over your qualities and strong sides of your character you possess, this way you will be sure what may seem easier for you. Here are some points you have to consider before building up a business.

There is always something to consider
There is always something to consider

Are you ready?

It is often said that people start business to become entrepreneurs in order to change their routine work graphic when they have to fulfill a nine-to-five day at their working places. However this only can be a result of a successful business that lies in hard work.

Some people think that businessmen have a lot of time that they can dedicate to themselves. Still, if you decide to take up your own business, be ready that it is going to require most of your time.

Are you sure that you want to risk? Statistics are always quite merciless, according to latest live business news 80 % of all business are likely to fail.

Think over everything involved in your start-up, you are sure to overcome a plenty of failures on your way. All that will take you to spend hours to cope with them.

 

What makes your idea worth a try?

Not all of successful ideas are unique, e.g. Facebook. But it must be competitive among others. A business idea is the one on which people will spend money. No matter how ridiculous your idea may seem, it is worth a try if there are potential customers. If you product has or is likely to arise an interest among certain auditory, this makes the idea great.

Do you have a plan?

To reach success and materialize an idea you have to plan everything carefully. Only this way you can make it happen. You have to introduce business to audience as something revolutionary. To become competitive you have to make a unique selling point. Besides this try to identify problems you may face in future and prevent them.

Make a business plan. There is always something left to consider and there are always questions you need to answer. That is why it is important to create a strategy using which you will reach your goals.

Can you afford it?

Building a business nowadays has become relatively affordable with tools and software that help automate operational tasks. But these are just part of the many other things that will comprise your startup costs. Employee salaries, infrastructure maintenance, and other services can pile up if you do not plan for them properly.

What are you to do in case you face unpredictable problems? A good thing to do is to find investors who can provide you with financial basis. To get them to help you will need to introduce your designed plan. It has t convince investors that your project is worth it by describing and explaining what you have got in your mind.

After you have answered all these questions you will understand better what you are capable of building and improving in order to keep your business alive. You are certainly going to face more questions on your way. However those we have listed are intended to guide you in the very start of your way.

How to deal with complaints

 

Maintaining reputation in the times of small business info can be either hard or easy. An overwhelming social media made everything more simple: you have no difficulty moving your business ahead by sharing your offerings and other ads. At the same time any customer can leave their opinion on every single thing. The information that floods social networks can both improve and ruin your reputation.

Letters of complaint can do a lot of harm to your business.
Letters of complaint can do a lot of harm to your business.

Only 20 years ago the only sources of advertisement used to be posters, newspapers and magazines, TV and other means of mass media. In case a customer had something to complaint about, he turned to a manager. The letters of complaint would rarely become public. Today it is different. As mentioned by forbes companies, the way of serving customers has changed. Nowadays a client can say anything by tweeting, making a status or doing a blog.
If you got a negative review, no matter if it was true or not, something must be done. If you pay no attention to it, it won’t do any good to your company. We listed some recommendations that my help you out.

Get positive reviews

It is a good idea to have a plan how to prevent negative reviews. In the first stages of making a business you should focus on it. This is essential for small business, when your business has not expanded yet. For bigger companies a few bad reviews won’t be disastrous as they already have a strong reputation. They already have a great number of reviews, so destroying their image is not so easy.
When you have just started a business, getting complaints are unaffordable for you. However you cannot be liked by everyone, so one day you will probably read a letter of complaint dedicated to your service.

Don’t get upset and try to solve the situation

Assure your customer that he is wrong and that everything can be solved in a peaceful way. Try to find a compromise, offer a discount, free product or give money back. No matter how hard you try, no matter how right you are, you will never win an argument with a unsatisfied client.

Don’t join a debate

If your customer has already posted a review, do not try to reassure them online. It will only ruin your reputation, as other people are likely to take a side of an upset client. Instead of reassuring, just apologize for having delivered some troubles once. After that send a private massage to a client to solve the problem.

Make short answers

The best response is a short, private and polite letter. It must recognize what has been wrong and give a solution. If your customer is already open to a calm conversation, you may ask them to remove a complaint. Assure the client that you want everyone to see that you are able to meet the letters of complaint and you want to reach a positive conclusion.

If the client disagrees to seek compromise and you have no choice left, you may return online and upload your answer that will contain you vision of situation. In this way you will look as a professional who concerns about their business.

How to save your health while working

Our office workers spend their days mostly in front of computers. Is it worth mentioning that our lifestyle reflects our health? How does your lifestyle affect your health?
Your metabolism is not that good as it used to be, and your backbone aches. You get tired very easily, and the fatigue chases you during a whole day from the very morning.
No wonder why it happens. You spend you work week onto your desk, in a car, on a couch day after day. All this activities do not make you healthier or stronger. As a result, you feel like you are dying. The only thing that may help you is changing your habits.

If you have a sitting job you are likely to have certain health problems
If you have a sitting job you are likely to have certain health problems

Move more

No matter how busy you may be, it is necessary to do some breaks at least for 5 minutes in every hour. Your heart and blood vessels will say “thank you” if you get up and do some easy exercises or just walk around every hour. In addition it will help your brain concentrate more on your task.

Don’t skip your doctor’s appointments

Sometimes we dive into hard work so much that we forget to visit a doctor when it is necessary putting it off for a next week. It is a mistake. Unless you visit your doctor in a good time you may skip a moment when you need help.

Healthy diet

What you eat has a greater effect on our health than anything else. Right diet that includes necessary vitamins and nutrition will help you feel more energetic, healthier and complete more tasks during the day doing more business. Cut down in consuming sweets and fatty food, not only they bring problems with metabolism, they make you feel fatigue and do not fill you with much energy.

How to reduce harm of your sitting job?

Keep your back straight. Wrong posture not only makes you suffer from such problems with backbone as scoliosis, it also slows down normal work of your body.
• Keep your feet on the floor. It will help you to keep a posture.
• Do some brakes. Get up every 30-60 minutes to walk around.
• Walk more. Use elevator less. Start walking at least for short distances instead of taking a taxi.
• Add more activities to your routing. Take up swimming or yoga classes, start running. The researchers say that people who work outdoors get less tired than indoors ones.
• 40-minute walking after work will help to improve your muscles and blood vessels’ functioning.
• Use bicycle. This form of transport is much more environmentally-friendly and cheaper than cars. Moreover, it is a great exercise for your body.
• Forget about TV. Choose only active pastime. Go skating, skiing, playing volleyball, tennis, hiking – all that will improve your physical and emotional health.

 

 

How to revive your restaurant business

 

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Restaurant is a kind of business that cannot exist without having a unique atmosphere

An outstanding interior of your restaurant is not enough to make your client return to you again and again. To keep loyalty of you customers you need to build a successful business. If your restaurant does not bring the income you expect, it is time you reconsidered some aspects of your business. There are some tricks that might help you maintain your business success.

Attract new people

The more people know about your restaurant, the more they are likely to visit you. Use e-mail and social networks to let your potential clients know what you can offer. Add to your advertisement eye-catching menu that will encourage people to try your food. Use posters near your restaurant that will reflect all the new offerings, changes and discounts at your place. Turn for help to professionals who may help you attract more customers.

System of rewards

This is a tactic that never gets old. The system of discounts, various points and free presents is sure to help you to attract attention of your clients and make them show up in your restaurant again. The psychological trick used for that is quite simple: people easily get all excited with a game where they can get something cheaper or even for free. Try to imagine something unordinary that will catch an eye of your potential clients. It may be organized games or other free gifts systems that work well.

Customer service

No need to explain that customer service is a visit card of a restaurant as well as the menu and food quality. Try to analyze your service. What needs improvement? Have you ever received any complaints on your workers? What can be done about it? If your clients decide that the service in your restaurant leaves much to be desired, the chances they will return are very slight.
Make sure you have got enough staff in your restaurant and that it is equipped with all the necessary appliances that will make work of your employees more effective.

Adding alcohol to your menu

If your restaurant does not offer any alcohol spirits, it may be time to reconsider. Many restaurants find alcohol a significant part of their income that covers a lot of excuses. The thing is that the alcohol drinks often become an essential part of any kind of celebration. That is why if you expect to make more money by arranging festive banquets in your restaurant, adding alcohol to menu is necessary.
The common problem restaurant owners usually face is that alcohol licenses sometimes are too costly. In this situation it is advised to buy a beer or wine license as they are the cheapest and can satisfy the majority of alcohol lovers.

Do not write a novel

It is not a good idea to make your clients read an endless list of dishes you can offer them. The customers might get confused if a menu you give them is too wide. If you have a lot to offer, focus on the main features of you restaurant.

You are unique

Restaurant is among businesses that attract more attention if they possess something special. Decide what makes your restaurant differ from other places. It is easy if you promote some ethnical cuisine – all you have to do is to keep an atmosphere of tradition at your restaurant. If not, try to make something that has not been made in your neighborhood yet. For example, organize lunches for employees of the nearest businesses. Long story short, try to make a repute of a place that appeals to wide masses without forgetting about your uniqueness.

Boost up your business inspiration

Most people become nervous when they need to come up with something new or find the best way out of difficult situations. Some spend a lot of time thinking but cannot make decisions, remaining inert. Others observe what competitors are doing and try to repeat their strategies completely or partially. And only a few use not only analytical and creative thinking. Most frequently brilliant ideas and inspiration come at that moment when one lets their thoughts float freely.
An interesting fact may be pointed out: some people get their best ideas for business when they are working out, having a run for example. At such moments the mind becomes very clear. On the running track one can be struck with an idea of how to develop a successful project, which will after grow into a thriving business.
Everyone finds ideas in different ways, so it is important to find an option that will work with you: your thinking patterns and habits.

The first thing you need is to distract your mind:  visit a new place, read a book, go on a run.
The first thing you need is to distract your mind: visit a new place, read a book, go on a run.

There are five basic strategies that should help you to learn how to draw new ideas and gradually translate them into refine projects:

1. Try be aware of economic and financial news

It is important to follow business news and understand what is happening in the world. Read substantive publications, thematic blogs in social networks, use all of the options to receive the necessary information. You need to know exactly what your competitors do, what customers think, and what is happening in different business areas.

2. Start small

Just take a pen. The hardest part is behind. Outline the ideas arising in the mind. At first, it may be difficult to concentrate, but you need to get over yourself and write. Just make a start and you will succeed. It is like a faucet that nobody used for a long time. When you turn it on the water may be rusty, hardly trickling, but after some time, the pressure will increase and the water will become clear.
The questions to think over are: what are customers supposed to do with the product? What results do they want to achieve? Be sure to take every opportunity to improve and upgrade the product for better service.

3. Try to find the way that will help to clear your mind

Some go for a walk when they need to clear their mind. People who are fond of sports may often come home after a run inspired with a new idea. Another option is to get away for a weekend. Most people cannot take a long vacation every time they want to catch inspiration, so you should make time for regular walks or workouts.

4. Choose most effective way to record ideas

Try to record your every idea, otherwise you will feel frustrated if you forget some of them. What is the best way to record your ideas? It depends on the type of action that usually brings you inspiration. For example, you can use the audio recorder in the phone, if inspiration usually strikes you when you are running and have no opportunity to stop to jot down your thought. It is easy just to press a button, say a few sentences and continue your workout.
Many ideas come in the evening, just before bedtime. Always keep a note pad and a pen nearby or use e-notes apps in your phone.

5. Get feedback

Once you have a defined idea, share it with partners, colleagues and customers. Listen carefully to their opinions. Try to ask as many people as possible, then you will know different reactions which will help to modify and improve the idea before it becomes a real project. Many plans, though being great and innovative, did not become reality and therefore were not reflected in business stories of success, as they were presented not properly to the audience – without enthusiasm, confidence and commitment.

Making a pretty penny out of penny stocks

Not all people have enough amount of money for equity investments. However, it should not prevent anyone trading at stock markets. You still can buy and sell stocks and turn an honest penny. Consider penny stocks.

What are penny stocks?

Penny stocks got their name because of relatively low price, which is typically less than $ 5.00. The low price makes penny stocks so attractive to individual investors who usually do not have sufficient funds to build a portfolio of the most expensive shares issued by large companies. Some penny stocks grow in price significantly, bringing their owners incredible profits, but there are cases when the companies issuing penny stocks turn out to be low-profit or even go bankrupt.
Some of the most successful companies started as penny stocks companies. The share price of such companies as Mylan Labs (MYL), Fortescue Metals Group (FMG), originally was well below five dollars, and now it is relatively high (though not a blue chip) and stable. There are companies that started small but it hit big and noted a remarkable increase in the stock price.

Penny stocks may grow in price and bring profits.
Penny stocks may grow in price and bring profits.

Rules to avoid risks at the penny stock markets

Penny stock companies are also known as small-cap companies. Small-cap stands for small-capitalization. These are companies with dollar capitalization less than $50 million dollars. This is the reason why their shares are traded for less than five dollars. But how can one choose these penny stock companies for investment? What are the risks? Since you are playing at the stock market there is always a certain level of risk involved. However, you can minimize the risk, following these simple rules:

1. Make inquiries. When choosing a company for investment, it is important to know if it can offer good prospects for the future. Check its economic background paying attention at each economic event; examine its vision and plans for the future development. This way you can reduce the risk of being a victim of a fraud.

2. Start small. It is better to start with small investment. Remember that you still get some experience from this type of shares. In this case cautiousness is not cowardice, but necessary preventive measure.

3. Follow the trends. Try to follow current market news to understand the common trends. Currently, the shares of IT and environmentally responsible enterprises are nice choice to invest to the future. You can focus on these sectors and keep yourself up to date with the news of these industries.
When you help these small companies, it is cannot be regarded as speculation. There is certain social responsibility that appears if you think that these small companies are really good in their sphere and have promising future. You may find that their products may be solutions to some persistent world issues. Though the profit may be small, do not forget that investing does not always means profit, but always means a game. Benefit is benefit no matter how we look at it. Do not lose courage, you may lose a few dollars, but, at the end of the day, you played the game. Who knows, you may make a fortune supporting losers.