Importance of Financial News in Our Daily Lives

Gone are the days when there was no concept of any money and people used to barter material things. However, the present day world is all about money which has become the prime mover of all aspects of life. Most people are either employed in a job or carry on some form of business in order to earn money. The stock market is another platform where individuals, as well as small and large entities, do stock trading, again with the intention of making money. Essential inputs for formulating a strategy for stock trading are latest stock market updates, knowledge of best stocks to buy in 2012, the latest financial news, stock analysts’ ratings and information regarding the most active stocks.

However, there are many people who are either not interested in stock trading or lack money, or they do not want to put whatever money they have at stake in the stock exchange. For such people, finance news and the latest stock market updates might seem to be superfluous and the happenings on Wall Street might seem to be of no use to them. But they must realize that our daily lives are deeply affected by what happens in the stock markets.

One of the most important areas in our lives is employment, which can be deeply impacted by the happenings in the market. If the stock market goes down, the employment scenario will be dim and if the market goes up, employment will also pick up. Keeping in touch with the latest finance news as available from any of the several media can be of great help in knowing which way the wind is blowing.

Hundreds of thousands of people have lost their jobs due to the current downturn in the economy. Many of them have had to withdraw whatever they had in the 401k in order to survive. Even those who have not withdrawn their money will find that the amount in this retirement fund today has shrunk, as compared to what was in the fund two years ago. The main reason for this is that the money was invested in the stock market and when the economy got into turbulent waters, the stock markets went down and so did their money. If they had been abreast of the finance news and kept track of the stock market, they could have withdrawn their money before any damage.

Finance news encompasses several aspects such as the movements of the stock market, the performances of companies and their stocks, the currency strength and its relations with other major currencies of the world and other company news. These aspects impact our lives as prices of commodities are governed by them. The decision to buy a house, a car or even a computer can be taken more judiciously after assessing the mortgage rates and other financial parameters.

The Global Economic Crisis’ Effects on Business

The global recession prompted due to several causes is a ghastly piece of news for each and every business in every country throughout the world. The tendency adopted in this recession by companies in their pursuit to survive during the chaotic time would be to enter into reviewing the headcount, as well as freezing the budget along with numerous cost reducing measures.

Nonetheless, it is possible that the growth of the company will be stunted in case you continue with the practice or overreact to the whole situation. It is seen with recession hitting the economy many of the internationally based business were enforced to reorganize their operations. This was mainly done by ceasing the functioning of the facilities of production. Millions of working people were required to quit their jobs due to the ongoing crisis. The course of action adopted by the company should be to come in the forefront and re-invent the proceeding of your company and at the same time think of procedures for global recovery.

The crisis is faced by the business is of great magnitude. Businesses around the globe were hit so hard by the economic crisis that several businesses had to seek monetary assistance from the government in order to survive. Several industries were in jeopardy and the others were facing the threat of bankruptcy. Practically for many monetary institutions it was like floor has been swept off under their feet. And as a conclusion the power if acquiring things by the public became feeble. The consumers were once again were very conscious about the budget.

Almost all people were forced to make their decisions carefully when it came to buying something as everyone was clueless about when the recovery from recession will take place. The trends in the market place began to fluctuate along with the demand of various products. Almost every business was affected by this global economic crisis but the companies that were hard hit were the companies having large scale operation along with those who provide their services at high prices. The consumers are now turning to the businesses which render similar services at comparatively cheap prices.

Businesses that can survive this economic recession in a better way are basically small as well as medium scale industries. Nonetheless, it does not suggest that they are not hit by economic crisis. The difference primarily lies in the fact that small as well as medium scale enterprises have comparatively undersized operations and have the ability to maintain the operation with fewer revenues. Such business usually has streamline way of operation which minimizes the total effect of the global crisis for survival.

The time span required by the international economy to recover is long as the magnitude of the crisis is large. Nations will have to strive hard to restructure their economy. What is further in store for us is hazy and the lucid picture is still to emerge. However, it is hoped that businesses will retain their normal position once again.

Kevin Allen is an author, artist and website developer with an interest in both the aesthetic, social, recreational, functional and business aspects of the internet.

In 2009 he used this knowledge to create an internet site about wine. [http://www.essentialfinewines.com/] gives visitors a chance to search through and learn about the most popular and exclusive wines. The most popular wine producing regions and grape varieties are discussed in depth on this site.

10 Ways to Pick Up Business in a Down Economy

Remember the bumper stickers back in the nineties that said “Kill Your Television”?

Well, based on all the over simplified economic news coming from the major networks, the financial networks and radio too-it’s something to consider again. No doubt, when the challenges of the current economy are studied in history, a major factor driving the psychology of the event will be the media.

There’s one problem with “mass media”, sweeping generalizations. The broad brush-the it’s everywhere approach-lacks specifics for each of our own backyards.

The result is that a lot of business owners experiencing a slowdown just say it’s the economy. Newsflash, there are companies that make millions of dollars in bad times. So, it can be done. Here’s how:

1. Focus on Your World

The news is a sweeping generalization and has no problem letting us think this is the way of the world. Take a hard look at the reality of your situation:

  • Are you still in business?
  • Are you in foreclosure or in danger of getting there?
  • Do you work in a failed bank or investment firm?
  • Is your industry of field lined up for a bailout?

If not, pay attention to what’s affecting you–not what the media says is affecting us. Do you work. Reposition your produces and services to meet your customers changing needs. Don’t sit on your hands and blame the economy.

2. Protect Existing Customers/Clients

When was the last time you communicated with them without trying to sell them something? Bad idea if it’s been longer than a few weeks. Get a newsletter or ezine going now and a minimum of monthly. Figure our ways you can start right now to show them how you appreciate them. Show them you solve their problems and don’t be a source of their worries or fears. Even better, start making them some great offers the boosts value so they continue to spend money with your business.

3. Install or Crank Up Referral Programs

New marketing is expensive and referrals are far easier and cheaper to get. Your customers are like seeds in an apple. You can focus on how many seeds are in the apple. Getting referrals is focusing on how many apples are in a seed. If your clients like you, then you’re good for the people they like. Make that point clear and get referrals–now!

4. Know Who Buys What

Not all of your customers or clients buy everything you have to offer. Start breaking down your list to who buys what. Now you can sell what they want easier, identify and right buyer for new business. Then create campaigns to cross sell to your client base. No time? List companies can do it for you. Does it work? Well, there has to be a reason Head & Shoulders has 9 different shampoos.

5. Fix Your Customer Service

When business was for the taking, customer service wasn’t very important. Now, a lax customer service is the room where your competitors will drive a wedge between you and your profits (or survival). Conduct a top to bottom review of all the points anyone in your company comes in contact with a customer. Are complaints resolved quickly? Do people show up on time for appointment? Are things ready with a client wants them? Better be 100% sure. .

6. Multiple Marketing Campaigns

I’ve kicked up the sales volume for many a client who they thought what they were doing was enough. After looking at the numbers and facts, they actually had a capacity to do a lot more marketing. Dan Kennedy says, “The most dangerous number is 1.” So if you only have one way to market; what happens when you business slows down? Right, blame the economy because MSNBC says so. Same goes for referral programs–having and executing only one does not cut in today’s business environment.

7. Joint Ventures

Have you ever considered a JV with any business that has customers who fit the same profile as your ideal customers? If you’re a professional I’ll wager there are other businesses in your building that would make excellent JV partners. JVs are like making a sale; you have to ask to get one. Look, after referrals this should be the next avenue you use for new business in 2009.

8. Use Off line Marketing

It’s ironic to recommend that strategy in an ezine article. Online marketing is big and getting bigger. The total RSS feeds, ezines, blogs and landing pages will double in 2008 and do so again in 2009. The number is even larger for emails. That makes older media more attractive because there’s less competition. Direct mail, display ads, inserts, post cards and printed newsletters–when done right produce very profitable results. Don’t give up on an older media just because a new one comes along. Think of ways to go “Old School”

9. Tie In Promotions

Just tying your promotions to the national holidays gives you eleven additional campaigns in 2009. Use any or all of the manufactured events like Mother’s Day, Father’s Day, the vernal equinox or summer solstice and you got more than any competitor can think of in a year. Get thee a marketing calendar and start making plans. Of course, you can make up your own reasons for a promotion. If the economy seems crazy, they go crazy yourself.

10. Give More Away

Put the Law of Reciprocity to work for you. Send gifts in the mail, free samples, sweeten offers with bonuses and free stuff. Too expensive you say? Information costs you nothing to give away. Bonus reports and “how to” information goes a long way. Want a great lesson on how to do this? Donate to a charity with a lot of marketing savvy. I recommend the DAV and Covenant House. You’ll help a good cause and get a graduate level education on how to use free stuff. Remember donate to charities you believe in and support.

Any turn down in the economy does not last forever. The trick is to make sure your business can outlast the cycle. Turn off the TV and get to work. Give your competition something more to worry about than a bad economy-you.